New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-24
BLESSINGS FROM ABROAD.

BLESSINGS FROM ABROAD.
The low cost Of certain foreign products
largely imported has bearing upon the pal
ance of trade between this and other countries
which is not often appreciated. In past years,
when those products were higher In price, the
total value of imported goods repeatedly rose
above SSOO,O0O,000. No such aggregate OF cost
Is now to be expected. The consumption OF
foreign products In this country Is to some ex-
tent limited by the protective duties recently
imposed, but. moreover some of the more I'M
porant articles imported have materially de-
cllned in price. The fall in coffee alone has
reduced by many millions the cost to the people
of this country, though no duty whatever hin
dcrs Its importation consumption Back IN
tho forties the average import price OF coffee
fell below @ cents In two years. and ms late as
1865 II fell TO &C cents, but In other years has
been much higher-in 1S72'S2, inclusive. never
falling below 10 cents. and once rising almost
10 90 cents Another decline carried the price
70 &c cents in 1885, but since 1887 II has never
been below II cents until this year. Its true
value in 1892 after allowance for the fictitious
prices stated In Brazilian paper. was little
over "a cents but IN September this year the
average import price was but IL cents, and has
since been lower. AT that figure the decline OF
6.3 cents pound on GO0,0O0,OOc pounds import
ed would make a difference Of s37S000O0 In the
cost of coffee to this country.
Sugar for long time ranged between a and
I; cents. and in 1891 and 1892 was still about
cents in average import price. but Is now only
about 90 cents This difference Of 0s OF
cent. on 3,7OO,OO0000 pounds ordinarily import
ed. would mean n saving to the people Of 3d.
10 m
tries for sugar The recent price OF raw silk
is about 80 cents pound lower than 1t was In
1890. and in comparison with previous years
the decline IS still greater, but at that rate the
decrease In cost Of 100000 pounds IL $4,000
900. The foreign cost OF tin In blocks or pigs
was about 90 cents for four years ending with
1893. and had previously been higher but Is
now about 1874 cents-makng on 5O,OOO,6~
pounds imported a difference OF S3,30O,0Oo. The
average price Of tea In 1892 was about 1G cents,
then nearly the lowest for many years but Is
now 81 cents lower making a difference OF
over S2JOO00O on 0J,000.000 pounds imported.
Most OF the imports OF tlnplates have been
stopped but the foreign price has declined o.
OF cent pound which on about 200.OOO,000
pounds still imported makes Sl4O0000. In
these few Items there appears n decrease OF
S7s.GO0.0O0 in the cost OF importations. due
wholly to lower prices In foreign countries.
The present effect is an important reduction
in the sum which the United States has to pay
TO foreign countries for necessary supplies, and
In consequence as great an addition 10 the ex-
cess OF exports. II these remain the same and
to the balance due from other countries TO this.
That It is an important difference will be real
lied when II IS considered that the interest on
5000. 100000 Of foreign capital, II borrowed
for the development OF American resources,
would not be greater. In 1895 the net exports
Of gold were about as large, and In 1893 about
50. 900 900 larger. but In no other year since
1854 have net exports Of gold been rs great, 10
that this difference in the cost OF few Import
ed products would have caused in any year OF
the last thlrty-three except two net imports Of
gold instead OF net exports in all years except
ten In the four dreary years ending with 1895,
Instead OF over 500 600 900 OF gold going out,
there might have been Sll2. 100000 imported II
the same difference In prices had occurred.
The decline In foreign prices OF the products
named IL In no lai GO degree owing 10 any action
In this country. The fall In tinpates IL the
result OF the establishment OF a new industry
here, and the shrinkage Of American consump-
ton In years Of disaster has somewhat affected
foreign markets for other products largely con-
sumed In this country. But In the main the
causes Of decline arc entirely Of foreign origin.
The development OF coffee production In Brazil,
Of sugar production by German and other boun-
ties and the increase Of foreign production in
other lines have bestowed upon the people OF
this country benefit which Is not likely to cease
with this year The increase Of beet-sugar pro-
dncton makes n lasting change, whether perma-
nently beneficial to producers or not The his
tory OF coffee raising indicates that after each
period OF excessively low prices has lasted for
year or two higher prices come and last much
longer but in the production OF silk, tea and tin
the increase Of production Is not likely TO lose
influence speedily. The tendency OF prices the
world over is toward n lower level, rs invention
and science increase the efficiency Of human
labor, and it IL proper to remember that In no
other country has the effect Of such changes
been greater than in the United States.