New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-16
IOREIG\ TRADE.

Tho new chief ~ the Bureau of Statistics.
Mr. Austin has changed the form Of the month
~ report 81 foreign commerce 50 that the first
statement TO- the new fiscal year presents at
a glance comparison II the returns for July
with rho>" of every month for six years. II is
n particularly timely change because the cx-
ports in Iuly were, So .0O00o less than In June.
and about S:oOun.uo1 loss than In May. and
would looh di>couracngly small If the record
wcrc not m hand 10 show that they were great
.r than ia July ~ pr"ylons years and greater
than IN any month except six Of the fiscal year
1920. crcalcr than IN any month except four
in 1870. greater ,han In any month except
i've in lNL}'9i. and crcater than In any month
except three IN l>a2'H July i usually the
month Of low td" IN exports because neither
the wheat nor The cotton crop can NOV" freely
in that month FIT Tho outgoing movement Of
wheat last month mad" IN" aggregate larger
than in the corresponding month Of 1891.
Imports have held their own with a singular
Sioadnc>s Will" a little smaller than IN any
other month since last October and consider
ably smaller than in any other July Of late years.
the inward moycmcn, WAS rather above the
average for the last year. But there is some
thing significant In the fact that tho imports
ore S3Gl .UOorp less than in twelve months end
ing with July 1889: .,4.W0.0VO less than In tho
snmc months Of 1893 '9i Sl36NHOOO less than
IN 1891 % SlJ 600 900 less than IN 1S.G-'96. and
Sl.,;OOOOpu less than in 1862. These are
large differences They show really remark
able change in the course OF foreign trade. and
one which promises a higher degree Of indie
pcndcnce for the industries OF this country.
When the returns come 10 be examined In de-
tail II will be- found that imports amounting 10
many millions in value have been prevented by
American developments in iron and some other
manufactures. and that others Of large amount
have been prevented 10y protective duties now
In force
Thirty ana twenty years ago this country was
lighting 10 establish its iron manufacture. That
industry Is now able 10 invade the markets Of
most other countries II has still branches
which could not thrive without protection. But
most Of lis important products are now sold in
Great Britaia. and in other countries formerly
supplied by Great Britain NJ prices which Brit.
l,h manufacturers cannot meet. The wonderful
development of the manufacture in the United
States could not have been attained. as all now
know without a long period Of defence against
foreign competition. In some departments that
defence is still necessary. and yet the iron
manufacture has 80 developed that during the
last fiscal year the country exported SI03GI 81
worth of iron and steel products besides $40
27O.9iS worth Of carriages and bicycles: while it
imported OF such product, only $l6425O6l
worth.
II Is this progress in the development Of
American industries which has brought about
the enormous trade balance in favor Of the
United States. The people Of this country re-
mir nd of,
ucts as in any past year. but they are now
producing n greater share Of the products they
require. They have yet 70 establish their COM
plcic independence In some textile manufactures
but under the new tariff are beginning to do so
with rapidly; and meanwhile. Instead of send
Ing abroad for 7OOOoo0OO pounds OF tin plates
in tho year. they imported during the twelve
months ending with June only Ill ,6i2 $40
pounds and in the last two months less than
S5OOOO0 pounds per month. Everybody knows
how this branch Of manufacture was for thirty
wears excluded from the United States by
plumbers in the tariff. and how n single clause
In the Mckinley act made this country indie
pendent Of all others In that branch Of manu-
factnre also. What the country needs Is only
an effective application OF the same principle
10 other industries which are yet undcvploped
and need defence.