New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-23
THE IMPORTS AND NEW DUTIES.

Ip,norts ~ merchandise in April exceeded ny
S334S 3C} the exports Of merchandise, although
exports exceeded imports In the same hion'n
Last ro,r hv Sl6l3S29 But owing to syndicate
orora,,o,s imnor1s exceeded exports Of gold by
e. 40 Az II IL none the less well to watch the
r,orch ,disc movement. which Is lasting, where
as the fluctuations in security MARKERS conic anu
90 and tho purchases Of one month are apt to
no the sales Of the next. The increase III du'i-
able merchandise imported was Sl3,2oGio' com
pared with last year, in part because S6'oiZ''o-
of sugar. last year free, Is this year dutiape.
Rut there was also considerable Increase Ill I'M
ports Of drygoods. While returns for single
month settle nothing II Is well to notice that the
receIpts of this class averaged about S2,6OO,oo
nor week. against 81 100000 during the first quar-
ter Of the year, the decrease being little larger
than in 1893 or 1892 and as this decrease Is reia-
lively more rapid thus far in May. 1t may mean
that the power Of foreign competition has FOR thls
season passed its maximum.
The proportion Of duties to all imports since
January has been 3 per cent more than it was
last year but IL per cent less than in 1873 the
ratios being 222 against 1872 and 234 per cent
Rut the proportion Of duties TO all dutlabc I'M
norris appcars I per cent smaller than last year
ar in 1S93 the ratios being 43.1 against JO.S ana
10 pcr cent Necessarily. no account Is mere
taken Of the remarkably heavy undcrvaluations
This year on some important goods. on when
duties are al valorcm But for this fact the rate
of duties on all duiiahlc imports would prob
ably be at least a fifth lower than in 1S?3. Ihis
extremely important factor in all calculations de-
serves further consideration.
As there has been much effort to make II ap-
pear that importationS. though larger than last
year when business WAS Frustrated. are not 50
large rs in previous years o. prosperity. 1t Is wei
10 see lust how far and In what classes of imports
this is true The total duti1blc imports Scpt'm-
Der TO May under the new tariff for each OF
the last three years are shown below. with the
value If susar now dutiablc but formerly free,
and the value Of wool and other articles now free
but formerly dutlable As nearly as can be asccr-
tanned from the reports yet published;
l,si-s5. 1924. 1929
h'Ere ''''' 500 a32eo5 sss sso5eS s2s2 29G $50
Sugar. same months @.l!5s61 'I''io'
f abe io. .i... rr... rsHos 2is97.27i
Remaining .;2eoei6.77, :i57 l355o9 s25ses2.5i3
The figures show an Increase Of about 40 per
cent over last ycai in goods dutiable in both
years. hui q decrease 81 H. per cent from lsA'
Il i. not M all improbable that undcrvauations
this year. IN goods formerly bearing specific but
now only al valorcm dutcs. account for the
who'll. Of this difference. But II not. the ma
,cral decline in prices abroad within the last
two wears more than sufcos 10 account for the
rest Something is known u the extraordinary
unlcrvaluaiions IN drygoods this year. but the
ounr,vlmatc value of such goods imported 1T
New York alorc for the eight months under the
new tariff with The remaining value Of other
goods duiiahle in the three years. u thus shown:
lspi-s5 lssl-9i ise2 90
prygooas at y Y....$ 9li2.7el '@5sl,l sp5ll9S
rcnaining ........ Is i52.yS lol.1S3Ss ljj,loou31
Very few who have any knowledge Of the sub
icci Will doubt that the undcrvaluatioEs in dry
Goods have made difference OF more than
SgOOOuoo or . per cent In value 80 that at for
cicn valuations honestly stated The amount would
apprar greater than In lS9293. But there has
also been a remarkable fall in foreign prices
honestly stated in all British cotton goods per
cent this year and since 1898 ia per cent so
that the quantity OF goods imported must have
been larger Than in ls93 In The remaining duti-
able goods the decrease compared with lS93 Is
less than 20 per cent. and with all allowance for
undcryaluations and the fall In prices abroad
There would be a small decrease II any. Bur the
rate Of duty Is calculated on the dishonest under
| Valuations and not on the muchrcduccd actual
| prices abroad. and this explains the fact that in
| pacc of the officially calculated decrease Of rate
of duties to $50 per cent on duilnblc imports the
actual rate of duties the declared value Of such
| imports Is apparently over l3 per cent.