The historic times., 1891-10-17
THE NEW TARIFF.
Important Paper From Secretary
Foster.
Comparison of Imports and Exports-Reci-
procity Opening New Marke s-A Conn
parative Table of Prices Under the
old and New Tarif.

WASHINGTON, Oct. 11.-Secretary Fos-
ter has received the first official state
ment of the operation of the Mckinley
tariff. The points covered are the
effects upon imports and exports, the
production of the revenue and the
changes in prices of various articles
The beginning of reciprocity is also
shown. This statement is very i'm
portant and very interesting. 1t covers
eleven months, bringing the results
almost down to date 1t was prepared
by S G. Brock, the chief of the bureau
of statistics, and is as follows:
During the eleven months from October I,
1890 to August H. 1891, Under the operation OF
the new tariff law, the total value of our
foreign commerce, imports and exports OF
, merchandise combined, was i SOB, IS? 1856, or
an increase of $74,76S6}9 over the value OF
our foreign commerce during the cor
responding period of prior year, when 1t was
$3.50, O136!Z The average annual Increase
of our foreign com merce imports and ex-
ports OF merchandise) during the twenty
wears from ISL to 1891 was $39, 9,3l43j2 1t viii
be observed that the increase during tho
eleven months under the operation of the
new tariff was nearly double this average
| annual increase. OF the total commerce OF
| the eleven months ended August 81, 1891, the
| value of our imports Of merchandise was
1868 2I0 96I, an increase of s25,6S1 3l6 over the
| value of the imports Of the corresponding
| months of the prior years. and the value OF
| the exports was s8l0,51l 50l, an increase or
| $500 1923 over the prior periOi.
| During the eleven months from October ],
| 1870 to August 81, 1891. under the operation
| II the new tariff the value OF imports of du-
| table merchandise was $685. 80 629, Willie
| curing the corresponding pcrio of the pre-
| ccding wear the value of dutiabe merchan-
| disc was $4S4 s8l ,89t, showing a decrease for
| the eleven months under the new tarin OF
| .ss All, ,7G5 in the value of merchandise paying
| dutE 1t may also be noted that the total
value of the imports for the eleven months.
| 1858 32lO 65, exceeded in value the imports of
| any ar in the history of our government.
| excepting the fiscal year 1S90 when their
value was $3.50 80, ,4)a If, however, the I'm
ports OF September, 1891, equal those of Au-
gust, the total imports will largely exceed
| those OF 1890
| Since the enactment of the new tariff law
there has been large reduction in the feve-
nue. from customs. This was contemplated
in the bill Itself which recited at its mead:
'An act to reduce the revenue" etc 1t VIII
| be observed there was during the year re-
| duction in the customs revenue or *il 3Jo,-
42j 49, Notwithstanding there was large In
| crease in the imports of merchandise This
| large reduction in the revenue occurred
| during the last three quarters of the year in
| cluded in the statement The increase that
appears in the first quarter occurred in DC"
| tober 1890, the month in which the new
| tariff went into effect. The new law did
| not go into effect until the 9th, and tie i'm
| norts OF merchandise and the withdrawal
| OF merchandise from warehouses immodi-
| ately prior to that date was very large. me
| reduction of the revenue from customs dur
tug the three quarters ended September 81.
| l49I as compared with the same perioi OF
| tile prior wear, was S43, ,0l4, ,SS8.21, but In con
| sidering the statement of the whole twelve
| months this amount Is cut down by the IN
| creased revenue collected during the fir It
| quarter whi h occurred In October, as men
toned above 1t will be remembered now
| ever. that the principal article OF our i'm
ports of merchandise from which the duty
was removed is sugar, and by the provis ons
of the new tariff law the removal or thls
duty did not take effect until April l, 1871
During the two quarters since that date it
will be seen that the reduction in customs
revenue, as compared with the same per iod
of the prior year, amounted TO $4, 29i l..
From this it will reasonably appear that the
reductions for an entire year will be fully as
large, IL not In excess, of the amount con-
templated in the enactment Of the new tarifi
law 1t further appears from the above
table that the total receipts from customs
during the twelve months prior to the pas
sage of the new tariff were 1881, ,69S 4o2 ~, and
for the first twelve months af,er the enact
ment of the new tariff law the receipts were
Sl96. .302, COG IS Tho customs revenue col
lected during the first period of twelve
months per capita of population was
$3.50 and during the second period
SaO7 or reduction per capita
of 7sc The reduction in customs revenue
has been greatly accelerated since April
last when the duty was removed from sugar
1t appears from the table that the customs
revenue per capita Of population coilectol
| during the six months ending September 20
1891, was only 81 3D. If the customs revenu,
collected during the following six months
ended March 81. Isg2 should be in the same
proportion. the customs revenue per capiti
collected during the year ending with th'
latter date would be only $2e0, or reduction
of 81 20 per capita of population in customs
revenues collected for that year. This woult
be the lowest revenue per capita collectct
! from customs for twenty five years sine
1854, and 81 2s per capita less than the annua
average rate of duty collected during tina
period on imported merchandise, which wa
s. - per capita
; The value of our exports of domestic ant
5 foreign merchandise during the first clever
| months ended August 81, 1884, after tbs
) new tariff, was Ssl1 57l, ,s1l and s49,0s7 ~
larger than the exports OF like merchandise
for the corresponding eleven months Of tht
prior years while the old tariff was in force
| when they were of the value of S19l, As, y :
! This increase OF $41,bSt. $50 lu our export
during the eleven months ended August 81
1891. was nearly two and one-haf time
: greater than the annual average increase Q
: exports of merchandise during the twent
, | wears prior TO 1881. which was so. 80. AZ
/ During the same eleven months OF 1879
: the value OF the exports OF merchandise b >
7 exceeded the value of the imports by tn
e sum of s-7,ss1. .s3S. The importance G
4 this large excess OF exports over i'm
4 ports viii be appreciated when u I
compared with the excess of exports OF IN
fiscal year 1897, when il was sos,s.sEI3-
s 1850 the balance Of trade was against Us an
the imports exceeded the exports S.IS0.ZI
n In 1855 the balance against as was still lar2
: er. and the imports exceeded the expori
SIS, ,a3l SIT. 1t viii be observed that tne 10
: crease in the value OF our exports of mel
c chandise is large and very gratifying ~
q value Of our exports for the eleven moatu
ended August 81. Is I. viz ssi0,aIl,S ,S0l. e.
ceeds the value of the exports for any yea
> in the history OF our commerce. except "a
II nscal years 1851 and $50 The value OF og
a exports for the twelve months ended Augpi
81. 1891 which includes September. Issi. an
y the trst eleven months under The nos taFil
+ was s9la 364. as, or 10 round nGAaeEs ag05
g,c1o.p99 greater laaa eaFsHg aay gFsT1e'