Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-03-25

difference in imports over exports in
our trade with foreign countries. In
short, it is the net Indebtedness of the
people Of the United States for pur-
chases abroad. If this condition Of
things existed between two individuals
or firms doing business with one an
other, and the debtor had not other re-
sources TO meet his liabilities, he would
90 into bankruptcy in short order
Fortunately the United States, which is
the clearing house for our people in
balancing trade with foreign countries,
has other resources to draw from to
meet this contingency. But it is plain
that IL the balance OF trade is constant
" against US, those resources must in
time become exhausted. Then what?
Either Quit trading with foreign coun-
tries and lock ourselves up in our shell,
or else get down to basis where we
can 90 business with them, so that the
margins of profit will not be forever in
their favor.
Statistics are dry reading at best, but
they often contain vital information for
the economist and the thoughtful per-
sons who want to reach the bottom, and
know the worst or best Of serious sit
uation.
Here are some figures and facts that
open ones eyes:
For the seven months ending January
stlast. the Imports of coffee as compared
with the same period in the previous year,
increased from So, 100000 10 $1S,OOO,OOO.
The imports OF tobacco increased some.
thing like 6. OOO, OOO, while the one item or
rubber ran I'D from 50. 100000 TO So, GOO, 900.
There was an increase Of $3,OOO,OJO IN i'm
DOrtatiOus OF manufactured cotton, the TO-
tai reaching $40 600, OOO-Ot Sl,5OO,OOO In
manufactures OF flax and hemp.ot the same
amount for fruits, of $3,OOO,0OO Tor manu-
features Of wool, and Of nearly S3OOO,OOO
for the manufactures Of wood. The I'M
p0rts of iron and steel have increased So
100000. The importation OF manufactured
silk increased in the seven mouths named
10 $4,000. 900 from : ., 600, geo, while, Ia adj
ditiou 10 this increase OF SjOJO,OOO there
should be added the q, 600 900 shown IN the
increased imDOrtatiOus Of articles or manu-
featured silk.
Here we have the very unpleasant
but interesting fact that the people OF
the United States paid out for purchases
abroad in the seven months ending last
january $50, 600, 600 more money than
they lid during the corresponding
period OF the year before. And this
too with the Mckinley bill in full blast;
the bill that was to give US such good
times, that was 70 restore the equalza-
ton Of trade throughout its ramifca-
tious. that was forsooth to so regulate
trade with foreign nations that all the
blessings were to come one way, and
the other fellows were to get little or
nothing.
But the worst is not covered in the
the figures above. Although bad
enough the outlook is much worse for
the coming year. There does not APP
pear 10 be any chance for the speedy
relief from the outflow of good Ameri-
can gold to satisfy the surplus of debts
contracted abroad. These same stats
ties show that
Wheat and cotton are the great factors
I'm the exports. The figures show that In
the seven months already stated, as COM
pared with the previous year the exports
of raw cotton fell of in round numbers
from Sis, OOO, 600 20 Sl21, 100000, over S5O,-
600. CO.,
The exports of wheat fell from $11600o,-
600 20 $50 600 OO0 and all the other bread
stuff in like proportion. The exports OF
agricultural products fell from SSH 100000
TO 1891 100000.
Last year as ne all know the crops Of
the United States were above tue aver
age, particularly wheat, while 1t was
just the opposite in Europe; therefore
the demand for American wheat was pro-
portionately large, so much so that it
was claimed it saved this country from
serious impending financial trouble.
But we cannot expect as favorable con-
dition Of things this year. A bulletin
issued by the Department Of Agricul-
ture conveys the information that the
present conditions for the European
crop are very favorable This indicates,
OF course, that there will be very little
demand for American wheat abroad.
II Europe purchases less wheat and
other staples from us than formerly the
balance Of trade against us will enlarge
rather than diminish. This bulletin
from the same Department also shows
that
the wheat crop Of Europe this year will be
no less than l,Sl2O00,0OO bushels, an in
crease from l,l6l, 900, 900, TO which Asia
will add 56.UOO,OO0 bushels. As against
this enormous yield the entire crop OF
North America is placed at only 500, 100000
bushels.
This is important information, but
very discouraging for American wheat
growers. Wheat raised in this country
cannot under ordinary circumstances be
in as great a demand as heretofore.
In this connection, it is worth while
calling attention to the fact that among
the many causes Of disturbance Of for
eign trade to the injury of American in
tereSts is that owing to our outrageous
tariff laws the American merchant
marine has so declined in tonnage that
our merchants are compelled to pay an
nuany from 500, 600, 600 to $50, 600, 600