Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1898-06-22
OUR FOREIGN TRADE.
Unprecedented Showing for the
Past Ten Months.
vast Increase OF Exports and Heav,
Decrease of Imports OF Foreign
Goods Leaves Merchandise Hal
ance OF 5000. oo0, 900 for 1895.

Rnce OF $500. ooO,OOo for Isos.
The exports of merchandise from the
United States 10 foreign countries dur
NJ the ten months ended April so.
isgS. amounted TO the enormous total
OF Sl.O25. 426.6si. This total for ten
months is entirely unprecedented. The
largest annual totals of merchandise ex-
ports ever recorded were Sf.Oso. o9i $50
for the fiscal year ended June 30. 1897.
and Si.O99, 543.554 for the calendar wear
1891. II is probable that with the large
shipments of grain now going TO Eu-
rope at high prices the merchandise ex-
ports for the fiscal year ended June 30
will easily reach Si.lOo, 900.
The imports of goods from foreign
countries during the ten months ended
April 30 amounted to S5ll.Isi.1 s6. max
ing the favorable merchandise balance.
or excess of exports over imports. S5l4.-
5.495. which figures have never been
exceeded. On this basis for ten months
it is estimated that the apparent trade
balance, or excess of exports over inn
ports of merchandise. gold and silver.
for the fiscal year ended June 30, 1895.
will be not far from $500. 600 900.
These figures are attracting wide at
tcntion. not only at home. but abroad.
as indications OF the prosperity of the
country, mainly the result OF the pro
iective tariff and OF conditions incident
thereto.
The trade returns of free trade Great
Britain and France for three months
ended March ~ enable striking com
PARSONS to be made with similar trade
returns of the United States. Our fa-
vorable merchandise balance. or excess
of exports over imports. for this period
was over $50. 100000. while the unfa-
vorable merchandise balance. or excess
Of imports over exports. OF Great Brit
ain was 1921 100000, and of France was
S66,00O.000. Austro- Hungary likewise
records an unfavorable merchandise
balance OF 2O.0O0.0o0 forms. Though
Germany reports quantities instead of
values, the foreign trade of that coun-
try indicates an unfavorable trade bal
ance for the first quarter of the year.
Here we have an unfavorable mer-
chandise balance in all the principal
countries of Europe for three months Of
the calendar year. while there has been
n favorable merchandise balance in this
country amounting, as above stated. TO
over Sl50,OOO,0 600. This balance will
undoubtedly be greatly augmented dur
ing the ensuing three months. April
alone showing an increase of S43. SOC. 600
while the unfavor0ble trade balances of
Great Britain, France. Austro-Hungary
and Germany may be expected to in
crease. 1t is not surprising. therefore.
that the attention OF Europe is being di-
rected TO the wonderful development of
the commercial possibilities of this
country, and more particularly because.
while our export trade is enormously
expanding, that OF Great Britain.
Franco and Germany seems to be con
tracing.
IL Is. 10 say the least, an interesting
coincidence that this unexampIed trade
record of the United States for the first
ten months of the fiscal year should
have occurred during the first year of
the restoration OF the policy of pro-
lection 10 American labor and indus
tries. coincidence is what il will be
called by the free trade theorists. who
VIII never consent to recognize in this
phenomenal trace balance of over
S5l4OO0.00O for ten months a case OF
cause and effect so far as the protective
system is concerned. They will main
tain that il is altogether due 10 the nm
usual occurrence of contributorv con-
oitions-thatis, OF short harvests abroad
and abundant harvests at home. where
from mas arisen an extraordinary ex-
port demand for our foodstufrs.
lhey are partly right. bur mostly
wrong. II so happens that along with n
heaVy increase in the foreign demand
Tor our surplus OF food products has
come a heavy increase in the foreign q
mand for our manufactures. It also
happens that, as , direct consequence Of
our protective tariff. our purchases Of
foreign merchandise have so fallen Oft
That the United States has sold more
lhan iwice as much as il has bought.
ne excess of exports over imports is
S'l4.245.i95, while the total value of iru.
ports Is S5i1.1s1.1s6. That means that
because OF protection over one-half Of
lhe vast sum which the outside world
mas paid MS for what we had 10 sell has
been kept at homo and spent or goods of
nome manufacture and disbursed iu
great part as Wages TO American work
people.
hat Is whai the unparalleled trade
showing for the past ten months really
means. II is stupendous monument
10 me patriotic wisdom Of the American
policy.