The morning call., 1894-05-10
FOREIGN TRADE FOR MARCH.

The summary statement of the imp orts
and exports OF the United States for
March, 1894, just issued By the Treasury
Department, exhibits simultaneously the
effect of the present business depression
on our foreign trade. and the efforts which
the country is making 10 recover.
The total imports of free and dutiable
merchandise in March, 1894. amounted to
s56. .024 997 as again ST $50. .663. 524 IN March,
1898, being a reduction Of % per cent in
round figures in our consumption OF for
eign goods; while our export OF domestic
merchandise during the same mouth
amounted to S6S. 577, 588. as against an ex-
port of S64977. 767 during the month OF
March, 1898. being an increase Of about 6
per cent. We bought S20,000,000 less for
eign goods than we did IN March. 1898, and
we sent abroad 100000 more home goods
to pay for them.
An analysis OF the tables shows that
the decline in our consumption of foreign
goods was mainly in articles in a crude
condition entering into the various pro-
cesses Of domestic industry, articles man.
ufactured for consumption, articles of
voluntary use and luxuries. In other
words, the changes exhibited in the tables
shows a slackenng in manufacturing in
dustry and general practice of economy
among consumers, the decrease being
mainly in dutiable articles, and being ac-
cOmpanied by an increase in the importa-
ton of coffee, sugar and opium. Going
deeper into details. we find diminution
of 80 per cent in our importation of hides
in March, 1894, as compared with March,
1S93 Of 33 per cent in raw silk, of 66 per
cent in textile goods, of 40 per cent in
cotton cloths. of 30 per cent in manufac-
lures of hemp and fax, of nearly 30 per
cent in manufactures of iron. of 80 per
cent in manufactures of leather. of 80 per
cent in manufactures of paper, of nearly
80 per cent in manufactures of sik, of 60
per cent in wines, of 80 per cent in wool
and of over 30 per cent in woolen manu-
factures. These are items which reflect
dullness in trade and the practice of new
economies among the people.
On the other hand, we find that the ex-
port movement of domestic merchandise
held up well. There was a decrease OF
something over S1,000.000 in our exports
of wheat, which may be mainly due to
local causes. and of S1,50U000 in our ex-
port of raw cotton; but these were offset
by an increased export of about $4,000, coo
in meat and dairy products. IL variety
of small items, such as certain manufac-
lures of wood and leather. boots and shoes.
cottonseed oil. ETC., there was a slightly
increased export. which more than coun-
terbalanced the decline in tobacco and
cigars, naval stores. cotton cloths, etc.
Producers seem to be sending their stuff
to market as fast as 1t is ready, and mer-
chants on the seaboard are shipping it to
foreign ports.
The first three-quarters of the current
fiscal year show imports of S4S6. .305. 900.
against S643. .737 600 for the corresponding
quarters of 1S92-93-a decrease of S157. 000,-
900 in round numbers, or about 81 per
cent. Per contra. the exports of domestic
merchandise in the first three quarters of
1S93-94 were S692, ,454. 900. as against
S643, 153, 900 in the corresponding quarters
of 1928, showing an increase this year of
about S50.000,0 900. or per cent. In these
calculations 1t is seldom worth while to
take into account the volume of foreign
merchandise re-exported; but it may be
noted that in the first three-quarters of
1S93-94 this item was S7,000.000 in excess OF
the same time in the tables for the first
three-quarters of 1928.
San Francisco does not cnt very salts
factory figure in The March tables. We
imported in that month S3.517,442 as
against S4.o57, ,294 in March, 1893; but we
only exported S1.770. 723. as against
$685. 821. For the three-quarters of the
fiscal year our trade movement was be-
hind that of 1928. This year, up to
March 81, our imports we're S26. 612, 000
and our exports $40, 800. 600; total. S47, ,5o2.-
600: whereas. during the three-quarters
ending March 81, 1893, our import, were
S33, ,9l7. 600. and our exports s26,012,000 !;
total, 59,919.000. The decline is grave.
The explanation of some Of these trade
facts lies chiefly in the dubious future OF
the tariff question. 1t has stopped manu-
facture. and so reduced our imports Of
raw material used therein; it has stopped
the importation of foreign
goods. lest free trade should catch mer-
chants with duty-pad stocks on land.
The excess of exports from the country at
large is due to practically forced sales at
low prices. The falling off in California
exports is explained by the fact that much
wheat has been stored awaiting better
prices in the Liverpool market.