Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1898-08-04

answer to these charges is furnished BY
the bureau of statistics.
The statistical report for the fiscal
year ending June 80, 1898, shows a bal.
ance of trade in favor of the United
States of $615, 259, OPS. more than double
of any previous year in the history of
the country. The value of the exports
for the year is more than seven times of
that of 1865, 20 per cen in excess of the
great commercial year of 1892, and
$3.50, DOC, 900 more than that of 1897.
The imports of merchandise are less
than in any year since 1889, and, with
this single exception, less than any year
since 1879.
The purpose of the Dingley bill was
to stimulate manufacturing in this
country and to increase exports. If the
Dingley law had been a failure there
would not have been great increase in
exports and there would not have been
a. decrease in imports; but as a matter
of fact there has been great increase in
exports, not only of grain and merchan-
disc, but all American manufactures.
There was great demand for all manu-
featured articles in the home market.
This was supplied by u manufacturers
and the expectations of manufactured
goods amounted in value to nearly $780,
900, 900.
We have not only sold more goods to
European nations, but to Asiatic and
African countries. This is certainly
encouraging, but still more encouraging
is the fact that all the manufacturing
countries of Europe are buying more
and more of American goods every year.
In 1888 the exports to France were val
ued at $40, 600, 900; in the last fiscal
year the value increased to 500, 900, 900.
Ten years ago Germany took from
America goods to the value of $3.50, 5O0,-
900; in the last fiscal year the exports
to Germany were valued at $3.50, 600, 900.
Great Britain, the United States rival in
manufactures, bought from American
manufactures in the last fiscal year
goods to the amount of $40, DOC, 900: in
1888 the exports to Great Britain were
only $685., 900, 900. Exports to British
North America have increased from
S3s, OOO, 900 in 1888 to $s5, OOO, 900 in 1898.
Austria Hungary, ten years ago bought
from this country only $500, 900 worth of
products; in the last fiscal year the ex-
ports to that country were valued at
SIS, O0O, 900.
1t has been stated in some of the
Democratic papers that the United
States makes a great showing in en-
ports this year because of the unprece-
dented expectation of grain and other
foreign products. This would not be
d%iscouraging were it true, but in the
last fiscal year II per cent of the ex-
portations were products of agriculture,
while in 1894 ~ per cent of our total ex-
ports were agricultural products; in
1893 "a per cent, in 1892 rs per cent,
in 1891 80 per cent, and in 1890 more
than SO per cent of the exports were
agricultural products. During the
| Cleveland administration there was an
outgo of gold to pay for American pur-
chases abroad. In the last fiscal year,
the first under the Dingley law, the net
importations of g%old-that is, the total
gold importations in excess of exporta-
tions-were $1O4, 1856 ,279. The net i'm
ports of gold in no preceding year eve
reached 500, 900, 900.
The truth is that no tariff law vas
ever more of a success in the first year
Of its operation than the Dingley law.
At home, industrial activity has been
stimulated and the purchasing power of
the hundreds engaged in manufacturing
has been increased. When the armies
of industry were idle there was little de-
mand for the goods of the merchant or
for the products of the farm; but when
the w%age-earner had money there was
demand for merchandise and for all
things grown on the farm. Legislation
that promotes the welfare of the wage
Garner and increases the prosperity of
the farmer at the same time is good
legislation. Legislation that carries
American foreign trade into new dis.
tricts, that increases its volume in
| Europe, Asia and Africa, is not a fail.
ure. The Dingley law has done all this.