Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1894-07-26
A YEARS CoMMMRCE.
Register

The statistics of the foreign COM
merce of the United States for the
year ending June 30 makes a good
showing as to exports of merchandise,
which amounts in round numbers to
1868, 100000, an increase Of 1921 100000
over last year. 1t was not so large as
the total for 1862, when there was an
extraordinary demand abroad for
American breadstuffs, and has been
exceeded in only two other years, 1881
and 1891. On the other hand very
large decrease is shown in the imports
which fell off during the year ending
June 30, 1894, $2l2,O00,000 in value
from the amount imported in the pre-
viOus year. The excess Of exports of
merchandise over imports is stated in
round numbers at 1914, 100000, a
balance of trade in favor Of this coun-
| try which has been exceeded in but
three other years-1S7S, 1879 and 1881.
With regard to the leading articles of
export, there was gain during the
last fiscal year over the preceding
year in cotton and provisions and a
loss in breadstuffs and mineral oils
The exports of provisions were valued
at $174, 100000 and these figures include
live cattle and hogs, the exports of cat
tie alone being valued at 1871 100000
for the last fiscal year, compared with
1926, 100000 for 1893. 1t is noteworthy
fact that the exports of provisions for
the last fiscal year exceeded in value
the exports of breadstuffs to the
amount of nearly $12O0O00O, a decided
change in the relative Importance of
these classes of exports. A very inter
esting feature of these statistics relates
to the movement of gold and silver, it
being shown that the exports Of gold
exceeded the imports only $4,585,663,
while we exported $37000O0O more of
silver than we imported.
In view of the large trade balance in
our favor and the very small loss Of
gold as compared with the fiscal year
ended June 80, 1893, the continued de-
preston certainly cannot be ascribed
to the condition of our foreign COM
merce, if that be considered as whole.
TO have sold $2OO0O0000 more than
we have bought is situation which
under ordinary economic conditions
would be regarded as sound and heal
thy. How does it happen, then, that
with so large an amount on the proper
side of our account in our foreign COM
merce the depression in our domestic
business continues ? There appears
to be but one satisfactory explanation,
and that is the uncertainty incident to
proposed new tariff legislation and
that checks industrial enterprise and
restraints capital from seeking employ
ment in business. Our foreign trade
for the last fiscal year, considered as a
whole, was certainly on sound basis.
Similar conditions in the past have
been accompanied by general prosper
ftp. Moderate imports give American
manufacturers larger share of the
home market and liberal exports
should enable our people to buy liber-
ally. There can be no doubt but that
this would be the experience now but
for the fact that the proposed new rev.
enue policy has caused widespread
curtailment of industrial activity that
has greatly lessened the ability of a
large portion of our people to buy. So
far as the figures of our foreign trade
for the fiscal year are concerned they
must be regarded as highly satisfac-
tory. The source of our business
trouble is in the purpose to make a
radical departure from long establish
ed economic policy. If that purpose
shall prevail it is safe to predict that
at the close of the year the balance of
trade will not be in our favor-Omah0
Bee.