La Junta tribune., 1898-12-24
BRITISH TRADE IS DECLINING.
sigaincaas Figures Called Astssties To
by Londoner.

by Londonsr.
Letter to the London Times: For
some time past. aud during the last
two years more particularly. we have
been so much mentally engrossed with
imperial questions that We have had
very little time to spare for looking
carefully into the items OF the ma
tional ledger. They require looking
into always. and 1t would be dimcuit
to instance time when the necessity
for looking into them was SO urgent as
It is at present. You, sir. notwith-
standing the pressure on your space.
have generally been able to find a cor
ner for these questions OF the shop.
And well remember that In a leading
article on Aug. 30 last you strongly
recommended to the attention OF our
merchants the debit balance OF this
country to the United States. and
happen to know that this arrested the
attention OF many people who had not
thought on the subject before. That
debt balance goes on increasing threat
eningly evesy month. Few people even
yet apparently regard 1t, and still fewer
recognize the meaning OF 1t. But II has
. very significant meaning. which ne
who runs may read. II he wishes 10
read The trouble Is that no one In
England ever will read anything that
shows in the slightest degree retro
gression In any department OF our ma
tional activities. That does not seem
to me to be true courage. We ought to
face the fact and to look steadfastly
where we are going. For some time
past It has appeared to me that our
course in trade has been somewhat
open to unfavorable comment, and a
statement which you publish today on
the comparative growth of foreign
trade confirms these apprehensions.
For what do we md in comparing the
exports from Great Britain and from
other countries. taking the years 1881
and 1897. as given in the returns? We
md that the United Kingdom is the
only country among the really great
trading countries Of the world whose
exports are materially smaller in 1897
than they were in 1891. and am sorry
to say that 1898 ESQ far as 1t has gomez
shows no better results than in 1897.
Or. again. taking the excess OF imports
over exports, we find from this same
return that it amounted to fl57 900 900
| in 1897 for the United Kingdom,
against 9l26, 100000 In 1891. OF
course, no other country in the world
has anything approaching these fg-
ures, because no other country has such
an amount of capital loaned abroad.
with interest, freights. commissions.
ETC., to receive. But have the amounts
for interest. freights. etc. increased by
| f30,O00,O00 since 1891? II is very
| large figure in the eyes OF grave men OF
business. equal to per cent interest
on e f1,OOO.O00.000 capital. Looking to
| the recall of capital from the United
| States and from Australia during the
past few years and looking also to the
reduction in rates of interest on in
| vestments in these countries and in
the Argentine. 1t would surprise me to
| learn that there was as much interest
due to the United Kingdom from
abroad in 1897 as there was In 1891.
cannot say anything useful in regard to
| freights, as I know nothing about
them. l am therefore at a loss to ex-
| plain this increase Of 100000. 900. and
there is undoubtedly going to be still
| greater Increase in 1898. Is there a
satisfactory explanation, or what is the
meaning Of it?