Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1891-10-22

The foreign trade OF the United states
during the fiscal year ls9l. which ended
June 30. reached, says the Indianapolis
Journal, the total Of sl.72a, $3.50 1886 the
highest sgure ID has ever touched. Dur
Ing the year 1870 the total value OF I'M
ports and exports was sl,6t1, I'D W"
which was the high.wa'er. mark until
the record Of the fiscal year 1891 wa
made. In 1889. the amount OF our for
eign trade WAS 81 49, ,533 621. The
figures of 1887 were never exceeded but
tyice-ln lss0. 81 SOB ,593 404 and in
1851, sl.6i5. O4l ,974-years when there
was an unusual demand for unprece-
deuted grain and cotton crops. In this
connection, because a class OF ne"spa
pers are constantly asserting that our
foreign trade has been hindered by the
protective tariff It is worth while TO 90
back TO 1851. when the revenue tariff poi
lev WIS changed for one more or less
protective 10 its features, and note the
value OF our IOFtlSH LId'' ~ sH' N''
Of dozen years Of that system. Turn
,ny back, Il i found that our foreign
trade during the fiscal year 1861 amount
ed 70 s5Gs -Gi 37j or considerably less
than one third Of the value of the for
eign trade OF 1890 or 1891 In other
words, the foreign trade of the United
States, at the end of fourteen years Of
the free trade policy or revenue tarifi'
amounted TO slG ~ per capita, while at
the close OF twenty years of the protee
tive system the amount per capita was
s27 - This seems An answer TO the
charge that the protective tarlh mas
straugled our foreign trade
Another feature OF interest is the nat
urr of the foreign trade. It 10 very im
portant to nation whether It buys OF
other nations more than it sells them,
because the nation which buys more
than il sells must either furnish enough
coin or Its equivalent to pay the differ
ence or it must keep giving It's notes from
wear TO year, in the form Of interest
bearing securities OF one kind or another.
Fortunately for this country the policy
OF protection has pu. u in a position
where we have been able to furnish
| 30 large part OF our manufact
ured goods that we have sold other ma
lions more than we have purchased of
them. In other words, they have been
Obliged to pay US balance either in coin
or In ocean service. Our foreign trade
during the fiscal year 1891 was made up
| of 1854 Is, l05 of exports and sSA ,9V','
i9l of imports, leaving a balance in our
favor II S39, 30 ll The year previous
the balance in our favor was SOS 5ls,215.
| During the Cleveland period the balance
| in our favor dropped down two wear,
and TWO years it was against us-a fact
| attributed in part to a lax enforcement
of the tariff laws and number OF tartf
decisions favorable TO importers. Be
fore Mr.. Cleveland's time exports hat
| exceeded imports in value for twelve
years ranging in amount each year from
81, 9O2 1888 in 1882 to s259,7l2, us il
| 1881 The average annual balance 1t
our favor for the twelve years was near
| ly $50 900, 600, The last fiscal year o.
| the tariff for revenue only" period
| ls6l-the value Of imports exceeded
those Of exports by $50 1856, 100 in tota
trade of sos ,sGl 375, while during only
one of the fourteen years was there :
small balance la favor OF this country
It required the product of the California
gold mines to pay the debts which vert
made for merchandise with other coun