New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-11-17
FOREIGN TRADE N OCTOBER.

or eleven months in the history or the couh-
fry which have shown exports exceeding Sloo'-
900 in value eight have been within the
last fourteen months and since the new tariii
was adoptcd October exports going beyond
those of any other month excepting December
last The amount is 4 surprise because inc
,ycol,l,. returns from New-I0rk represent
smaller share of the total exports than last
wear and tho low prices of cotton ana Wheat
,voro oxnectcd TO reduce the value Of exported
products below that of October. 1897. Yet the
amount was S11S.6s6,232, against Slll,IlAol'
last wear. when the unprecedented outgo OF
grain was in full swing, and when wheat aver
aged for October OBI cents higher than TINS
voar and cotton 50 Of n cent higher. though
ranidlv falling But the most remarkable Feat
IRE is that exports outside the principal prod
nets rosc 10 So 100000 against $i4.OOO.Ow IN
October last year S3GOO0OO0 in 1896 and ST.
10000 in 1898. There has been noteworthy
increase. as all know, within The last three
wears. but after ranging between S33OooooV ana
SIS. 600. O00 in nine months of the last year, ana
reaching $lO0OOO00 in March and August
these outside exports mounted yet higher IN
October. showing that the movement of iron
and other manufactured products is having Il
distinct effect upon foreign balances.
The imports in October were Sj237419i. only
about S2O00OO0 larger than last year or the
wear before and S23O0OOO0 less than in Octo-
Der. 1895. In ten months the value of imports
has been Sill 100000 less than last year, ana
Sl4e OOO0OO less than in 1880 and while aver
aging nearly SJ3.OO0,OOO per month. quite
enough 10 render lud.crous the complaint That
the tariff is "prohibitory.' shows sufficient re-
strcton Of foreign marketing here materially
10 help the favorable balance which makes this
country creditor of all the world With imports
averaging S15.0OO.00O more per month. as in
1890. the country exported nearly SGOoOooO OF
cold por month"; besides over S2O0O.ooO of sill
yer.
This wear the imports of gold have exceeded
;hc exports by 1917 .432 in October. and Sl2o.-
5g624G in ten months, and at the same tme
enormous credits against other countries have
been established which could hardly be OK
hausicd 10y two full years of especial adversely.
When It is remembered that the largest excess
of imports over exports of gold ever realized in
any fiscal year was less than S91.JoOOOO even
with the extraordinary foreign demand for
American products in ISL. and that in no other
wear in the history Of the country have net i'm
ports Of gold been within Sj2.WO,On as large
rs in the ten months ending with October the
importance of the industrial and commercial
revolution in progress viii be i'm part appre-
GATED II Is not entirely an encouraging iact
that tho net exports Of silver for ton months
have fallen about S1.600OO0 compared with last
wear. since II indicates shrinkagc in demand
abroad and in production here. though the de
crease has been partly due 10 circumstances
which are presumably temporary. As by
| product alone, i'm connection with the mining OF
| other metals. more silver Will be taken out
| tnon this country can use as money or in the
arts. and a decrease IN foreign demand affects
! tnc country lust rs a decrease would in some
! other commodities.
Prudence VIII suggest that tho United States
! cannot always count on such large exports of
! brcadStuffs rs have been realized within the
last two years In 1890 and in 1889 the total
! value was loss than S12J. 900 900, against $50,
| OO0.OOO in ten months of this year. But the
partial failure Of supplies here Is a rare occur
| renee. and The rapid Increase OF production in
| Car Western and Pacific States. with lower cost
| Of transportation have prepared this country
! 20 supply greater proportion Of the world
| needs than in former years. II Is fact Of
! larger importance 10 this country that agri-
! cultural changes abroad have tended strongly
| 10 increase the demand for grain from the
| United States and the Increase Is likely 10
be permanent and growing as respects corn
Yet the fact remains that tie country has no
reason 10 expect SO great a foreign demand
for grain IN other years as has been met of
late and It Is therefore more important and
encouraging that The ability of the country To
supply foreign needs for manufactured and
other products. outside the few Of chief
consequence. is steadily charging. and seems
likely TO enlarge notwithstanding the great de