The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-05-31
|TRADE GREATLY BENEFITED
Effects Of The New Tariff on the
Country's Business,
Avery Decided Improvement in the
Mckinley Law. Revenues Raised
Predict Surplus in 1856. In
crease In Exports and I'm.
s2s ports. Object Lesson.

3 tuIuS WIFI ilcNlOWS SlatlStlCS-lO Qc(er-
mine approximately the practical work
ing and effects Of the new tariff law,
which did not so fully into operation
until Jan. /, 1895.
1t is rather reassuring than otherwise
to note that the revenue raised by tho
new tariff during the quarter ending
March 81, 1895, was $45, 1896. At
this rate the total revenue of the current
calendar year derived from customs will
be $1S2, 46l, 5s4 and would indicate tho
possibility of a surplus before 1896.
1t also appears from data obtained
from the bureau of statistics that the
value OF manufactured goods exported
from the United States during the quar-
Ger ending March 81, 1895, was very
encouraging, the amount reaching $41,-
S9S,004. During the corresponding
quarter of 1892, whom tho Mckinley
tariff was in full blast, the total value
of American manufactures exported was
only $50, 99l, 2SS. In the same quarter
in 1893 tho figures wore $50, $50, S3S.
When the overproduction of manufac-
tured goods-which had been intensely
and disastrously stimulated by tho ex-
cessiyely high duties of the Mckinley
law--attained it's climax, the exports in
the first quarter of 1894 roso to S42,-
2lO,846. But this was an exceptional
and spasmodic volume of such exports.
The exports of March were S64, S75,-
GOT, and the imports of the Same month
were &69,294, s07, while the customs
duties collected amounted to S14, 92S.-
7S9. These are gratifying results Tho
country may felicitate itself on the fact
that its imports were $4,419, 500 in ex-
cess of its exports. No doubt this excess
wiz be used as u text for bewailing the
effects of the new tariff by ignorant peo-
pie who still cling to the Anticipated and
oft exploded balance of trade" buya-
boo, But if the increased import trade
OF the country proves nothing else it
proves that the people, having been for
"a years paying extremely high "protec-
zionist" prices on domestic mnnufac-
lures, arc determined to break loose from
their bondage aud to encourage whole
some competition with homemade
goods, competition which can come
only through freer importations and
purchases of foreign fabrics.
But, as already intimated, the imports
for March, combined with those of Feb
ruary and January last, afford a striking
OBJECT lesson upon the practical effects
OF the new tariff. The total value of tho
imports of merchandise from Jan. 1 to
fdarch 81, 1895, was $1S5, 1851, 1856, upon
winch the customs duties amounted to
$40, $685. The new tariff therefore
has exacted an average duty of "a. per
cent of the value Of all merchandise
EQUITABLE and free) imported into the
United States
Even In Germany, with her large
army to support, the customs duties col
iected average scarcely 10 per cent Of tho
value OF all imported merchandise. In
the Netherlands the duties amount usu-
ally to only per cent of the value Of
manufactured articles and are nil OF
only az per cent if these articles are
used for tho industries of the country.
!he empire of Austria hungary mulcts
Its people In tariff taxes modest amount
only per cent of the value Of all their
imports. Italy exacts for customs ONLY
W. per cent of the value of all her i'm
ports, while in Sweden and Norway the
total value Of customs duties collected
as but lo.5 per cent. Turkey is more lib
eral in tariff taxation than "free Amer
aea," the Tarkish tariff admitting into
hhe empire all imports except salt and
tobacco at a rate of per cent ad vslorem.
Ii now we compare the average rate of
j dnty on imports subject to duty under
the new tariff since Jan. I, 1895, with
the average rate under the MCKINLEY tar.
IN fer the two years ending June 80,
1899 Tin which its operation was not
affected by the panic and hard times),
We fad that the former is only 4. 90 Der
cent lower than the Mckinley rate. The
government statistics show that under
the new tariff the custom house officers
aTo now collecting an average duty of
"a Per cent on all dutiable imports.
The corresponding Mckinley rate was
Ss.71 in 1892 and 40. 90 in 1898.
Under the high tariff of 1883, which
remained in force till October, 1890, the
average rate Of duty on dutiable goods
was 5.6l per cent, SO that the new tar
aT Is not on tho average per cent lowe
/ than that of 1888, against which Mr..
\ cleveland s famous message Of 1887 was
justly Illuminated
1t is certainly encouraging to discover
beyond doubt that the recent reduction
OF duties, though beggarly and con-
tenpable, has appreciably benefited
trade. Had not the original Wilson
tariff been marred and mntilated by the
senate much greater reductions of duty