Bellows Falls times. [volume] (Bellows Falls, Vt.) 1856-1965, 1892-02-11
OUR FOREIGN COMMERCE.
GROWTH IN TWELVE MONTHS UNDER
THE NC KiNLEY TARIFF.

GROWTH IN TWELVE MON his UNOeN
THE NC kiNLEY TARIFF.
Marvellous Increase-Our Exports for 1891
Nearly One Billion of Dollars-Balance of
63G.
from National Bulletin
1t has been frequent and favorite
assertion of the opponents of the new
tart fl law, popularity known as the ''Mc-
Kinley tariff" that our foreign COM
merce would be greatly injured if not
destroyed, by its enactment. They said
1--WE must buy if we would SELL" or, in
other words, if we protected and built
up our own industries, thus restricting
imports of foreign products and retaining
millions of dollars at home, foreign mar
kets would be closed to our products and
there would consequently be great de-
preston, more particularly with the
farming interests.
The fallacy of such assertions will be
readily seen when it is understood that
ever between the grain, cotton and pro-
vision dealers of Europe who purchase
our surplus of wheat, corn, cotton and
meat products, and the importers of
New York, Boston, Philadelphia, Balti-
more, etc, who bring the products of
other countries to our markets. The
dealers on the other side buy our wheat,
corn and cotton because they must have
them to supply their markets and be-
cause they are cheaper or better than
they can get elsewhere. They never in
quire how much iron aud steel, woolens,
cotton goods, silks, wines and jewelry
are sent over here. Neither do the i'm
porters of iron and steel, woolens, cot
tons and silks ON this side inquire how
much wheat, corn, cotton, ETC., have
been shipped over to Europe, but re-
gardless of what has gone abroad, they
import all the foreign goods they can
possibly sell here. Facts and figures
are always more conclusive and salts
factory than assertions or theories, no
matter how plausible they may appear.
Fortunately these facts and figures are
now available and they thoroughly con-
flute all the assertions made by the OPP
ponents of the new tai lift as to it's effect
upon our foreign trade, both as to i'm
ports and exports, their volume and
their value.
The effects'of the "McKinley tariff
upon our foreign commerce may be seen
by comparing the imports and exports
of the calendar year 1891 with the i'm
ports and exports, their volume and
value, for the calendar years of 1890 and
1889. 1t will be remembered the McKin-
ley tariff was enacted October 6, 1890,
Nd int hn an,
commerce for nine months and six days
was under the operations of the old tariff
and two months and twenty-five days
under the new tariff. All of the calen-
dar year 1889 was under the old tariff,
while all of 1891 was under the new
tariff.
The value of our imports of merchan-
disc during the year 1889 was $40, 526-
4s4; in 1890, 1928, 397, 1876, and in 1891,
1928, 1872, 646, while the average annual
value of our imports for the ten years
from 1881 to 1890, inclusive, has been
SOL 1862 ,430.
1t appears, then, that the value of our
imports of merchandise during 1891 ex-
ceeded the value of like imports for the
year 1890, when they were very large in
anticipation of the new tariff, by the
sum of 81 ,914 800, and those of 1889 by
the sum of $57 1856, 1852, and the annual
average of the ten years mentioned by
the sum of $126, 450,2l6.
1t will be seen that there has been a
large increase in our imports under the
new tariff and over prior years. There
is this further very favorable difference
in the imports of last year that very
much larger proportion of the same
came in free of duty than for any prior
year and were made up principally of
such articles as enter into the daily
consumption of the people and are
largely not produced in this country,
such as sugar, coffee, tea, chemicals,
drugs, etc.
During the year 1891 the values of the
free imports was 1929 326,779, and of
the dutiable imports 1898, 49,, 1867, or
81 81 per cent free and 4S Ii per cent
dutiable. In 1890 $2SS, 52S,32S or 35.1
per cent was free and $534, 1863, 1893 or
GA per cent was dutiable. In 1889
$261 164, 4S4 or 1873 per cent was free,
and $685. ,4Sl or 66.1 per cent was
dutiable.
1t appears that in 1891, under the new
tariff, there was an increase of $l39, 79S,-
451 in the value of free imports over the
value OF like imports IN 1890 At the same
time there was decrease in the du-
table imports of $135, sS3,531 The in
crease of free imports over those of
1889 was $16S, 1852 ,295.
This great increase in free imports in
1891 over the two prior years was
brought about by the transfer of sugar,
textiles, ETC., from the dutiable to the
free list by the ''McKinley tariff
Sugar and molasses were not free of
duty until April l, 1891, and the full
effect of this change does not appear
undoubtedly the value as well as the per
cent of imports admitted free of duty
will be still greater. At the same time
there has been large reduction of the
revenue as was contemplated by the adj
vOcates of the new tariff.
EXPORTS OF MERCHANDISE.
The value of our exports of merchan-
disc for the month of December, 1891,
alone far exceeds the value of such eX-
ports for any month in the history of
our commerce. reaching the marvellous