New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-09-16
FOPFJGV TRADE " ATfTST.

FOhtIVN mann ~ ~ ~ ~
The August return Of foreign trade fully bears
out expectations and is n most important state
ment In view OF current Apprehensions about
monetary supplies The command Of this coun-
try upon foreign reserves Of gold has not been
weakened but materially strengthened by the
months trade. The excess of merchandise eX
ports over Imports was S35 429030 against
S4O9SO445 in the same month last year. when
imports were depressed 10 the lowest point for
n long time by the previous movement 10 anticl-
pate the new tariff. while exports were starting
IN for the fal, much earlier and stronger than
usual because of the general deficiency Of Euro
pcan crops II Is somewhat remarkable that
the excess under such extraordinary circum-
stances last year should be so nearly ap-
preached In August Of this year. when the out
ward movement Of brcadsuffs was small while
imports wore S9.334 $50 larger than year ago.
II Is not especially surprising that dutiable
imports have been within million as large as
I'm August Of 1896. when all business was more
depressed than in any other month Of that pain
ful year Some articles have been added 10 the
dutiablc list which were free under the Wilson
tariff. and the imports free OF duty were yet
somewhat larger this year than In August,
1896 The statement clearly reflects tho fact.
repeatedly noticed. that general condition OF
prosperity expands the aggregate Of purchases
from abroad even while the movement OF some
products 1, much retarded by protective duties.
In August. 1892 business was also highly pros
Porous. and imports were 81 .2i2.3S5 in value.
but there has been n great change since that
time in the ability OF home industries TO defeat
foreign competition. and the present tariff.
though lower than that Of 1890 In general, Is
more efficient as to many articles. owing To the
extensive use OF specific duties and the lower
range Of prices abroad
The exports were the largest on record for
summer month. In spite Of n decrease Of nearly
So. 600 900 I'm brcadstuffs compared with last
year The cotton movement was larger foreign
producers taking advantage of low prices here
TO fortify themselves, and the movement Of pro-
visions was heavy. The country ia now export
ing more largely than ever before Of manufact-
rrod products: for example in August. 1902.
we exported OF manufactures Of iron and steel
So 30S47j In value. hut this year probably more
than S7.OO0OOO worth. while we then imported
81 sol All In value Of such manufactured prod
nets about half being Of tlnplntes hut now i'm
port scarcely S1.O0O,OO0 in value. and not
100000 worth of tinplates or agricultural ma
chimes we sell abroad about 81. 100000 worth in
n month, against 100000 In August, 1890. and
Of carriages and cars $500, 900 worth. against
500, 900 in 1902 besides about 100000 worth Of
cycles and parts not exported at all six years
ago. Cottonseed oil exports have grown from
500, 900 n month 10 over 81 100000, and petro-
leum from s3OOOOOO TO S4.5OO.OOO. in spite Of
low prices.
The general effect Of the expansion, the fruit
OF n vast development OF home industries Is
that this country places all others under n con-
tr,bution each year with increasing power. ire
spective OF It's exports Of the grain and cotton.
In consequence other countries paid In net I'M
ports Of gold to this country S4SG6 40 In Au-
gust, while net exports Of silver were only
5000, SGS in value. But while little OF the Au-
gust balance was settled in that way, and sum
variously estimated at from SS0O0000 to SlO-
600, 900 month went 10 meet interest and divi-
dends due abroad, with other items there still
remains due and unpaid more than S20.OOO,OOO
on the business Of August When this Is added
to the enormous unpaid balance which had been