Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1897-08-11
Imports from South Exports to

--. ,,~,.. .uvv, ana our imports or
dutiable goods increased by 1884, 600.
In the next year of our most adequate
protection we added to our purchases Of
South American free" goods by $780,
100000, total gain of $64, 900, 900 in
two years.
Did our exports increase proportion
ately? Not much. They decreased from
$37,745, 900 in 1890 to $50, 573, 900
in 1899, loss Of $3.50, 900 in the two
years. Thus, while the policy of protec
tion to American industries was in
effective and undisturbed operation,
the South Americans sold us more Of
their goods by $64, 900, 900 within two
years, but bought over S., 900, 900 less
of our goods. The advantage accruing
to them was almost $40, 100000 within
two years.
During 1898 and 1894 our business
conditions were upset owing to the
threat to overthrow our policy of pro-
lection, with the advent Of a Demo-
cratic administration and the discussion
of free trade tariff. Since the enact
ment of our free trade German Wilson
bill what has been the result? The
South American countries sold us $41,-
100000 less of their free goods in 1896
than in 1892 and $40, 900, 900 less in
1896, while their sales of dutiable goods
increased at the rate of 100000 900 a
year.
But the funniest part of Senior Ro-
mero's statement is where he says:
You may be certain that every dollar you
pay to South America for importations will bs
spent in this country for American manufac
tured products.
In 1892, under protection, we spent
upward of $3.50, 900, 900 in South Ameri
can countries. They spent $32, 573, 900
in this country. They kept Silt, 427,
| 900 which was not ''spent in this coun-
try for American manufactured prod
uots. - In 1898 they kept $40, 900, 900
as their favorable trade balance, in 1894
they forgot to spend $6S, 900, 900 here,
the good. and in 1896 there was small
balance of $7S, 800, 900 which they over
| looked when spending their money in
| this country for American manufac-
tured products,
South America is not increasing it's
| products. In 1890 we sold $37, 745, 000
worth to our southern neighbors, and
only to the extent of $50, 51T,S 1897 in
| 1896. In 1891 and in 1895 the amount
was 1888, 200, 600 for each year. In the
intervening years, 1924, their pur-
chases exceeded only 100000 a
year.
The trouble with Senior Romero is
that he has been studying the free trade
newspapers and consequently does not
understand the workings of a protective
tariff policy, which is to admit free"
of duty such goods as we need and have
not produced, while imposing a duty
upon those goods, made in foreign ooun-
tries, that we can produce at home
South America supplied us with sugar
because she had it for sale and we need
ed it. But in regard to wool it is much
better for us to buy our wool from our
own farmers, who spend all the money
they receive for their wool in our mar
kets, rather than to buy the wool from
Argentina, which spends here only %
cents of each dollar she receives from us
and either keeps at home or spends in
Europe the other 70 cents. That does us
no good
The friends of protection who listened
to Senior Romero's theories very courte-
ously refrained from confronting him
with facts But we feel it our duty to
direct his attention to the statistics of our
imports and exports, whereby he will
learn that the South American countries
keep for themselves more than 80 of the
money they receive from us to every 81
which is "spent in this country for
American manufactured products. /"