New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-21
AMERICA As 4 MILCH COW.

AUERIC1 IN Il WILtH tOU.
The time is not yet at hand TO measure the
effect OF the new tariff upon all industries.
But in some the changes already disclosed are
enough TO make genuine Americans think scri-
ousy British reports for the month OF Septem-
Der and the reports Of our own Government for
August came to hand at the end Of last week,
and are highly instructive. Beginning with cot
ton goods since II has been stated that the new
tariff was eminently satisfactory and highly
scientific 1t may be noted that 51,OOO,OO0 yards
were exported from Great Britain TO this cOun-
try in nine months Of 1895. against 32,OOO,OOO
yards last year. Exports Of jutc yarn and linen
yarn more than doubled exports of linen goods
increased from 59,OOO,OOO to 103000000 yards,
and exports Of hardware and cutlery increased
about 40 per cent But the most startling
change was In woollen goods. British exports
to this country were 10G020OO yards woollens,
against 1907 100 last year. and 54,9G4, 400 yards
worsteds, against 1881 100 last year, besides
523 400 yards carpets, against 1123OO last year.
About quarter Of all the wooen cloths ex-
ported from Great Britain came to this country,
and about 40 per cent of all the worsted cloths.
In each branch the shipments for the month of
September were relatively larger than for the
preceding eight months.
The British returns do not tell the whole story.
They cover about four-fifths Of the woolen
cloths we import. but little over third Of the
dress goods, and somewhat over half Of the car
pets. Turning to American reports for August.
IL is found that the imports OF woollens ana
dress goods, abou, equal in weight and in value,
were largely in excess Of the average of previous
months OF the year, amounting to ',o44'o''
pounds for the month. against 4,l4o.OS9 IN lS!'2
| In the eigh: months ending with August the I'M
| ports were 4S9S92S4 pounds, against 2G.4l',9S2
in the same months Of 1892, including only dress
| goods and woolen cloths for each year. 1t Is
! not difficult to see that these imports. at the
rate Of 74OOOO00 pounds in year. or nearly
half the entire consumption Of the country have
made an importance difference with the work
Of the mills and the wages of the mill employees.
| These goods represent about 2OOOOOOOO pounds
raw wool for the eight months, or 3OO,OOO'OOO
for year, besides 179,521,1SO pounds raw wool
| imported. which is AT the rate of 269,OOO'o0O
pounds In year. so that the wool grower loses
much more than half his home market.
1t is not entirely astonishing under these cir
| crmstances that "Thc London Financial News
| says: practically every penny that was sub
! 'scribed here towards the recent American loan
| has been got back through the expansion in the
exports Of woOllens and worsteds." This may
not be quite the statistical fact, for the British
| exports of over $25.000,000 worth Of wOollens
| TO this country In nine months were only about
| S19,JOO,00O in excess Of exports for the CORE
| spending months in 1894, though ii may be an
! swered that Great Britain has not subscribed
| for nor retained half the last loan placed by
| President Cleveland. But that paper also says
with truth: "The lowering Of the American tariff
''has been our salvation, and 1t cannot be said
! that we have shown much reciprocity, for in
'stead OF taking the increased value Of our ship
| "ments across the Atlantic in kind, we seem to
'have bought less American produce 1t is need.
less to go beyond our own Board Of Trade re-
turns to find an explanation Of good deal of
1.-THE monetary trouble in the United States" The
| fact is that the trouble here is not monetary in
any sense; nor any lack of money, nor super
| fully Of money, nor defect in the quality OF
money. 1t is simply this, that the country has
enormously stimulated buying Of foreign goods
by change of tariff, and the goods are bought
and imported without the slightest care whether
the country can pay for them in goods or only in
gold.
1t occurs to "The London Economist" also
that this country is an excellent mich COW, for
| ii says: while our exports of woolen goods
"were somewhat larger TO most other countries,
| 1.-The great increase from f94,G49 in September,
| 1891, to f424,391 last month in the shipments
ito the United States overshadows every other
"lem. . Our trade in metal goods with the
United States shows considerable expansion
ION account Of the high prices now quoted for
'all classes Of iron in America. The demand
for pig iron there has recently been so strong
that nearly 5000 tons, valued at $4,000, We're
shipped from this country last month. .
Owing TO the recent rise in the price Of raw
material in America, 1t Is anticipated that our
[ ''tin-plate makers will be able to compete on
'betcr terms with the protected native indus
''lries in the future" No doubt this is crafty
! ing to those who have longed TO see imports ex-
! pand at the expense Of home industries But
about election time free traders would rather
not have the evidences OF British progress and
prosperity at our expense quite so conspicuously
! proclaimed. 1t is shade fatigulng TO shout
every day that there is nothing the matter here
except a Republican silver bill which has been
! repealed two years. and then TO have the London
| papers tell us how Great Britain has MIXED us
out Of S2OOO000O in two months on woollen
goods alone, and what bright prospects there are
Of closing other American works as wages rise
toward the normal level. What the wage earn
ers think of these fruits of Democratic victory
may appear when they vote this fall.
NAVAL PROGRESS