The Portland daily press., 1892-04-29
EXPORTS UNDER TEE MCKINLEY
BILL

BILL.
1t was one of the predictions of the op-
ponents of the Mckinley bill that under
its operation there would be a great fall
ing off in exports. 1t turns out, how
er, that this prediction, like almost all
&c others made by the prophets of dis
ister from this bill, has not been full
filed. On the contrary for the first time
in the history of the country ten figures
are necessary to tell the story of the ex-
ports of the country's domestic products.
They have now reached and passed the
billion dollar line, the exact figures be-
ing S1,o06, 2S4 500. A hundred years ago
the exports for the year amounted to $1O,-
100000. The century has therefore seen
an increase in our exports of nearly
S1,00o,000 Great Britain, which makes
speciality Of her expert trade, fostering it
by governmental as well as every other
method, exceeds in her exports by only a
few millions the exports from the United
States in the past twelve months. And
this is more than Offset by the fact that
the balance of trade is constantly on the
wrong side of the ledger with Great Brit
ain, for her imports every year are $780,
100000 or 40o,0O0,0o0 in excess of
her exports, while our imports
in the past twelve months are $780,
100000 less than our exports. Germany,
whose exports run pretty well up tow
ard those of the United States, also has
the balances on the wrong side Of the
ledger. as her imports are $250,0O0,o 900
year greater than her exports, while
practically the same condition exists
with France and Italy.
The fact that there is balance of
trade in our favor of $3.50, 100000 is one
of the most interesting features of this
showing of our commerce, especially
when we compare our condition with
that of other countries of the world. AS
indicated above, all the great CONNER
cial nations of Europe find themselves at
the end of the year with a heavy bali
ance of trade against them, or, in
other words, that they have bought
more than they have sold, or
imported more than they have exported.
Happily the reverse is the rule with the
United States, for there have been but
two years since 1875 in which we have
not taken in more money for our exports
than we have paid out for our imports.
In the past Is years the balance Of
trade in our favor in our foreign COM
merce has been in round numbers ST.
750,0 The balance of trade turned in
our favor 20 years ago. Prior to 1878, in
the entire history of the country, there
had been only IS occasions in which our
exports were as great as our imports.
Since 1878 there have been but three
years in which our exports did not ex-
coed the imports by from S1s,000,000 to
$3.50, DOC, 900 per annum.
It is interesting to observe that while
nearly Is per cent of our exports are pro-
ducts Of agriculture, there is a steady
growth in the exports of the products of
manufacture. In 1880 only 10 per cent Of
the expectations were made up Of pro-
ducts of manufacture, while now they
amount to 20 per cent of our increased
exports.
In 1851 the value of manufactured ar
ticles exported was SOC, 1000, 900, now the
value of exported manufactured articles
is about twice that sum, having steadily
grown in the past decade, while the per
centage of the agricultural products has
slightly decreased.
Fifty per cent of our exports go to
Great Britain and Ireland, 10 per cent to
Germany, 7per cent to France, per
cent to British North American possess
ions, per cent to the West Indies, per
cent to Belgium, per cent to the Meth
erlands, per cent to Italy, per cent to
Spain, 2 per cent to Mexico, 2 per cent to
Brazil and per cent to China. :.
Agricultural products are more than
IS per cent of the total expectation. In
this cotton still heads the list. The ex-
portations of cotton for the year being
$500, 712, $685. against s12s, III, $3.50 of bread
stuffs and S139, DIG, All of provisions COM
prising meat and dairy products.
. IT
Another Columbus Memorial.
The Worlds foi oi+