The Maryville times. (Maryville, Tenn.) 1884-1944, 1898-07-23
OUR FOREIGN TRADE.
Unprecedented Showing for the
Past Ten Months.
Vast Increase of Exports and Heavy
Decrease of Imports of Foreign
Goods Leaves Merchandise Hal
ance of 5000, 900, 900 for 1s0s.

ance of 5000, 100000 for 1S0S.
The exports of merchandise from the
United States to foreign countries dur
ing the ten months ended April 30,
1898, amounted to the enormous total
of $1,025, 426,6Sl. This total for ten
months is entirely precedented. The
largest annual totals of merchandise ex-
ports ever recorded were $1,000, 1901 $50
for the fiscal year ended June 80, 1897,
and 1,099,743,554 for the calendar year
1897. 1t 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 $1,100, 100000.
The imports of goods from foreign
countries during the ten months ended
April 80 amounted to SSH, lS1 1856, MAX
ing the favorable merchandise balance,
or excess of exports over imports, $514,-
245,405, 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 i'm
ports of merchandise, gold and silver,
for the fiscal year ended June 80, 1898,
will be not far from $600,000,0OO.
These figures are attracting wide at
tention, not only at home, but abroad,
as indications of the prosperity of the
country, mainly the result of the pro-
tective tariff and of conditions incident
thereto.
The trade returns of free trade Great
Britain and France for three months
ended March 81 enable striking COM
parsons to be made with similar trade
returns of the. United States. Our IA
vorable merchandise balance, or excess
of exports over imports, for this period
was over $150,0O0,OOO, while the unfa-
vorable merchandise balance, or excess
of imports over exports, of Great Brit
ain was 1921, 900. 900, and of France was
$66,oO0,00O. Austro-Hungary likewise
records an unfavorable merchandise
balance of 2O,0OO,OOO 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
a favorable merchandise balance in this
country amounting, as above stated, to
over $150,000,000. This balance will
undoubtedly be greatly augmented dur
ing the ensuing three months, April
alone showing an increase of $43, 500, 900
while the unfavoIable 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 d.
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
, France and Germany seems to be con.
i tracing.
1t is, to say the least, an interesting
coincidence that this uneXampled 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 to American labor and indus
tries. A coincidence is what it will BE-
called by the free trade theorists. who
will never consent to recognize in this
phenomenal trade balance of over
S514,000,000 for ten months case oil
cause and effect so far as the protective
system is concerned. They will main
tain that 1t is altogether due to the un
usual occurrence of contributory con
ditions-thatis, of short harvests abroad
and abundant harvests at home, where
from has arisen an extraordinary ex,
port demand for our foodstuffs.
They are partly right, but mostly
wrong, 1t so happens that along with q
heavy increase in the foreign demand
for our surplus of food products has
come Il heavy increase in the foreign de-
mand for our manufactures. 1t also
happens that, as direct consequence Of
our protective tariff, our purchases Of
foreign merchandise have so fallen of
that the United States has sold more
than twice as much as it has bought
The excess of exports over imports is
$514,245. 495, while the total value of i'm
ports is SSH 49, S6. That means that
because of protection over one-half Of
the vast sum which the outside world
has paid us for what we had to sell ba.
been kept at home and spent on goods O.
home manufacture and disbursed il
great part as wages to American worl
people.
That is what the unparalleled trade
showing for the past ten months really
means. 1t is stupendous monument
to the patriotic wisdom of the American
policy.
An Admirable Selection.
In the appointment by Secretary Gage
of Mr.. o. P. Austin as chief of the treas