The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1892-02-12

1897, when our commerce amounted to
81 ,647 ,139. 1893, and the last year exceeds
this enormous agg late by over $780,
100000. 1t is interesting. and to some
will be surprising, to know that during
the year ended September 80. 1891, our
imports of merchandise amounted to
$S24, ,715, ,27O, which was an increase OF
more than $11 100000 over the value of
imports of the corresponding months OF
the previous year, when the imports OF
merchandise we're large in anticipation
of the tariff legislation then pending.
The average annual value Of the imports
of merchandise for the ten years from
1881 to 1890 was $692, ,186, ,522, and during
the year ended Septem ber 80, 1891, this
annual average was exceeded by $780,
528, ,469. The value of free imports dur
ing the twelve months ended September
80, 1891, was 81 Is, ,0H2 1857, more than the
value of free imports during the cores
ponding months of the preceding year,
and there was, during the same period,
a decrease of 1856 ,505 in the value of
imports of dutiable merchandise.
The percentage of merchandise adj
mitted free of duty during the year to
which I have made reference, the first
under the tariff, was 14.1S, while during
the preceding twelve months, under the
old tariff, its percentage was 34 27, an
increase of 1891 per cent. If we take
the six months ended September 30 last,
which covers the time during which sug-
ars have been admitted free of duty, the
per cent. of value of merchandise i'm
ported free of duty is found to be 55.37,
which is larger percentage of free inn
ports than during any prior fiscal year
in the history of the government. If
we turn to the exports of merchandise
the statistics are full of qualification.
The whole of such exports of merchan-
disc for the twelve months ended Sep
tember 80, 1891, was 1923, ,291, lS1, while
for the corresponding previous twelve
months it was 1860, III, 1I5 an increase
of $62, 2,914,O ,O21, which is fully three times
the average annual increase of exports of
merchandise during any year in the his
tory of the government. The increase
in the value of exports of agricultural
breadstuffs during the year referred to,
over the corresponding twelve months
of the prior year, was $45, ,846, 1877, while
the increase in the value of manuiac-
tured products was SIG, ,S3S, ,240.
There is centainly nothing in the con-
dition of trade, foreign or domestic,
there is certainly nothing in the condi-
ton of our people of any class to suggest
that the existing tariff and revenue leg
islation bears oppressively upon the
people, or retards the commercial de-
velopment of the nation. 1t may be
argued that our condition would be bet
ter if our tariff legislation were upon
free trade basis, but it cannot be denied
that all the conditions of prosperity and
of general eontentment are present in
larger degree than ever before in our
history, and that, too, just when it was
prophesied they would be in the worst
state. Agitation for radical changes in
the tariff, and this financial legislation
lcannot help, but may seriously impede
business, to the prosperity of which
some degree of stability in legislation is
essential. think there are conclusive
evidences that the new tariff has created
several great industries, which will
within few years give employment to
several hundred thousand American
workingmen and women. In view of
the ever crowded condit on of the labor
market, the United States citizens
should rejoice at such result
The report of the secretary OF tne
treasury shows that the total receiPts ol
the government from all sources Tor the
fiscal year ended June 30, 1891; were
$45S, ,544 ,233 03, while the expendl.nnr1ees inn 1e
for the same period were $421 ,3O4, ,4IU 49,
leaving a surplus of $37 ,239 1852 81. The
receipts for the fiscal year ended June
80. 1892, actual and estimated, are $453'-
zoo. 900, and the expenditures $4Oo,ooO,-
loco. For the fiscal year ended June w.
l1893. the estimated receipts are $4oo,-
336, 800, and the expenditures $43o, 49,
693.
S;Iver LEGISLATION.
Under the law of July IA, 1897, the
secretary of the treasury has purchased
since August 13, during the fiscal year,
AZ 39a. liz ounces of silver bullion at an
average cost of $1O45 per ounce. The
, highest price paid during the year was
81 .2O25 and the lowest $0.9636 In ex-
chance for this silver bullion there were
issued $5.O57, ,496 of the treasury notes
!, authorized bv this act. Tre lowest price
, silver reached during the fiscal year was
40. 1886 on April %, 1891, but on NO
vember | the market price was only
80 96. which would give to the silver
dollar bullion value of 74A cents. Be
, fore the influence of the prospective sil-
. YER legisl atm was felt IN the marke,
;. silver was worth in New YORK ABOUT
r $O.975 per ounce. The ablest advocates
, of free coinage in the last congress were
most confident in their prediction
, that the purchases by the government
. required by the law would at once brine
= the price Of silver to 81 2s2g per s,,a ounce e
a dollar 100 cents and hold it there
The prophecies of the anti-silver men
v disasters to result from the coinage o
: $4,000, 900 per month were not wider
= the mark. The friends OF free sllve
: are Ire not agreed, think, as to the causes
= that brought their hopeful prediction
e to naught. Some facts are known.
e The exports of silver from London t.
e India, during the first nine months o
a the calendar year, fell off so per cent. o
= s17l, ,2O2, ,73O, compared with the sam
r months Of the preceding year, The e ex
If this country, which has averaged for tn
q last 10 years over s17 ,ooO, 900, in the las
fiscal year fell to $ls,797 7sl, while ths im 70
E. ports of silver into this country ea
le ceeded the exports by the sum OF ~
st 745, ,165. In the previous year the ne