Weekly expositor. (Brockway Centre, Mich.) 1882-1894, 1891-12-18

chase so large an amount of those things that
pie. j believe that a full test will develop the
fact that the tariff act of the Fifty-hrst Con.
gress is very favorable in its average effect
upon the prices of articles entering into COM
During the twelve months from October /,
1890, 20 September 30. 1891, the total value OF
combined was Si.7S7, s(6. 40e which was the so
largest of any year in the history of the Uni
ted States. The largest on any previous year
was in 1890. when our commerce amounted 20
Sl,047, $4,000, and the last year exceeds this
enormous aggregate by over Sl00,000,0O0. IL is
Interesting, and TO some Will be surprising, 10
know that during the year ending September
to 1924, 1890, which was an increase of over
Sl0,U0O0 over the value of imports of the
corresponding months of the preceding year,
when the imports of merchandise were unusu-
ally large in anticipation of the tariff legisla-
ton then pending. The average annual value
years from 1881 to 1890 was SGo2 lS6, 522, and
during the year ending September 80, 1891.
this annual average was exceeded by Sl3%,52S,-
4G9.
The value OF free imports during the twelve
months ending September so. 1891, was SllS,-
092, 1857 more than the value of free imports
during the corresponding twelve months of
the preceding year, and there was during the
same period decrease of Sl0G.3i6,50S in the
value of imports of dutiablo merchandise. The
percentage of merchandise admitted free of
duty during the year to which have referred,
the first under the new tariff, was S.ls, while
during the preceding twelve months. under
the old tariff, the percentage was 421, an In
crease OF 1871 per cent. IL we take the six
months ending September 30last, which covers
the time during which sugars have been ad-
mitted free OF duty, the per cent OF value of
merchandise Imported free OF duty is found To
be 5531. which Is larger percentage OF free
imports than during any prior fiscal year in
the history OF the government. ,,.
IL we turn 10 exports OF merchandise the sta
tlstics are tull OF gratihcation. The value OF
% @ Sa, tno tT s1
Ool, 1876. while Tor the CORRESPONDING previous
twelve months IL was $500 an Increase
oi wI'Gn 10 nea[iy Inree lIles the
chandise during nuy wear I'm the History Of the
government. The Increase IN the value of ex-
ports of agricultural products during the year
months of the prior year YVES :;5946 1917 while
the increase in the value Of ,X' orts of manu-
featured products was sl6s;Bs. 40
There is certainly poth,ug IA the condition
of trade, foreign or duuc.l e. there Is certain
ly nothing in the coalition Of our people
ist,ne srifT s5G m ie,,ieltnn bna,s OK OK
pressiveiy upon ne people or ,etards the COM
mercial developnen, OF the nation; " may be
i,S WI. a ,o oS
basis: bnt h r,,,t he denied thar ali the rono
5;,i, 90 30 ~ .n'C az Cl,o
utIiUAo VI s t., 80 i q, Soii .oIlt y
hf :" ~ a., -, - ,,'i - 80; 10 JNeI
!, 80 ' id 80 ,9' ~ ~, U.s. tS W.T.,
VS. ,tti, o.. i AZ oo -. ' t WI i ~
g.
s I' - i Vp, ouv may
bcb so,na 9ea,Te ~ INC ~
,,tio J'''O N sie0 % '''''' Al 40HiSi''''n 20
essential =, o...,,,.,... ...,,.. A.. -.
=, .niiih ei. ~ q ''o ~. tn'
o ~, u, TiI' i,i sreteS iii.
n,ent ~, scyn,a bnnd "a thonsa, I'LL
PUs tie.lS :; ~ 80 o. - i - 81
oln ,n,ol S,id "a ~ wy ~ tLe
soIlgE NAY ~, T;. Sonui'ion Oi tne Iu1r
citizen spould reIaice ~ sucb resn p"'iio'io
CIti~eh Shouiu ioJoiOe III SUN result
REVENUE AND EXPENDITURE.
The report of the Secretary OF the Treasury
shows fiat the total receipts Of the govern.
oh""s '''''' Wv 'O''i iNNSiP'S Vi 'h0 gwen
ment, from all sources, for the fiscal year end
ing Juno so 1891. were e45s 544 233 o. while the
expenditures for the same period were s42I.-
3O4. 40 46. leaving a surplus OF SCI, 239 552 81
The receipts of the fiscal wear ending lime 40.
lSg2 actual and estimated are 5000 COO and
the expenditures s4C9nlOO). For the fiscal
wear ending June 90 lsq3 the estimated re-
CENTS are S455,&8 $50. and the expenditures
s4ll. 3OOOl3
NM, 81, ,,,,,, o,,,,e-,o,,
ihh si'N En- W L9lloN'
Under the law of July IL, 1890. the Secretary
Of the Treasury has purchased since August Il
at, ,t al 80, 40 oo9 10 49,. % IL.
uuIInS the AsO'i 1eoi 10'o0''il" OuhCes Va siNeI
bullion at an average cost OF Sl.0i5 per ounce.
The highest price paid during the year was
Sl.2Us5, and the lowest SO9O96. In exchange
for this silver bullion have been issued $780,
81, 49S OF the treasury notes authorized by the
act. The lowest price of silver reached during
the fiscal year was SOS6iB on April -, 1891: but
on 4Nbhtlh Oht bllt hidAhtN pllNo war OuA1
SO.6, which would give TO the silver dollar a
bullion value OF seventy-four and one-fourth
cents.
Before the influence OF the prospective silver
legislation was felt in the market silver was
worth in New York about SO.955 per ounce.
The ablest advocates OF free coinage in the
last Congress were most confident in their
prediction that the purchases by the govern
ment required by the law would at once bring
the price of silver to l.2929 per ounce, which
would make the bullion value OF dollar 100
cents and hold II there. The prophecies OF
the anti-silver men OF disasters to result from
the coinage of S2,UOOOOO per month were not
wider of the mark. The friends Of free silver
brought their hopeful predictions TO naught.
Some facts are known. The exports of silver
from London TO Indin during the first nine
months Of the calendar year fell OFF over
30 per cent, or ,2O2, $50, compared with the
same months of the preceding year. The ex-
ports of domestic silver bullion from this
country, which had averaged for tho last ten
years over Sl7OOO,OOO, fell in the last fiscal to
Sl31V 81; while, for the FIRST time in recent
years, the imports of silver into this country
exceeded the exports by the su of S2,745,365
In the previous year the net exports of silver
from the United States amounted to S., ASS.
from 500000O0 ounces in 1889 TO a. 800 900 in 1890.
The government is now buying and putting
aside annually 54.0O0.OO0 ounces, which, allow.
ing for 10000 ounces of new bullion used in
the arts, is 6,6400)0 more than our domestic
product available for coinage.
hope the depression in the price OF silver Is
Temporary and that further trial Of this leg
islation will more faYorably affect IL. That
the increased volume OF currency thus sup