New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-17
FORETGN TRADE TRIUMPHS.

II was rightly anticipated a rev DAYS ago thdl
the decrease of S6000,00O in February exports
of the principal products would be mainly over
come by the increase in minor exports, mostly
nroducts OF manufacture, because in iron ana
other products Of large importance shipments
would continue for some time In the execution
of orders taken before the recent rise III prices.
Dcdrctinr the value of the great staples, 1t is
found that the remaining domestic exports IN
rebruory were S3G. iOG.9i3 in value. against
s3I Oh. 39G in the same month last year, so that
I'm spIte Of some decrease in foreign exports the
aggregate for the month was S93,SSi,l1 9,
against S9i.9l7 ,453 last year, decrease of only
Il oar 304 about n sixth OF the loss in the great
stanlcs The increase in imports was over
G. Ooo 600 as these were still much restricted
2 wear ago by the heavy stocks imported in
anticipation Of the present tariff, so that the
excess of exports for the month was S33.62i'-
III 1t has been smaller in only one month.
Julv 1898 since the new tariff went INTO ell
feet.
Wirh an ignorance which is scarcely credible.
ar with n mendacity which is unhappily only
too credible some free-trade organs treat the
return as evidence that the great shrlnkage OF
exDorts and increase Of imports has set in Tor
which they have waited. little examination
of the facts is therefore in order. The month
OF February has for many years always shown
n decrease in exports. compared with the maxi
mum Of the previous four months, ranging
from n quarter to more than third But the
heaviest exports ever known in that month
were last year. from which the decline Is pare
" n million. and from the extraordinary move
mcnt OF last December the decrease Is not ~
per cent In past periods of great activity II
has been nearly n third in 1881, over third In
1889 about 80 per cent in 1892, but only about
n quarter last year owing 10 the famlnes abroad
Prior TO 1885 the greatest February exports
ever known were ST.. I33.S01 in 1881, and the
greatest in any month $9S,S90,2l4 In December,
1880 In the ten years ending with 1874 the great
est In February were $S6.63S, 1871 In 1892 and
in any month S119,925, SOC in December, 1891.
This year February exports are over S1,OOOOOO
and last years were over SS,OOO,Wo greater
There Is certainly no sign of halting mere
But the most important and encouraging
feature is the increase in manufactured exports
which DO not depend upon the accident of
weather in other countries. The Increase or
nearly sixth over such exports IN the same
month last year. in spite of rise IN prices
which undoubtedly affected sales of raw iron
and copper to foreign customers, gives great
reason TO hope that during the coming four
months, in which exports OF the great staples
will bc naturally reduced the balance may yet
be held strongly in favor OF this country. IL
ought TO he regarded as the most significant
fact OF all that, although imports In February
were large, slightly over S60O0OOOO. the value
of the minor exports mostly manufactured COW
cred GO4 per cent Of them--a thing altogether
unprecedented when imports have been full
The imports were indeed larger than in any
other month excepting March last of the TWEEN
ty months since the Dingley tariff was enacted.
Yet they were still larger in nineteen of the
thirty four months under the Wilson tariff.
when with extreme prostration of business and
industries the people were paying more money.
and in most months very much more money.
for foreign goods than they paid for imports
in February Nor is this all; In two of the thir-
teen months Of the panic preceding the Wilson
tariff imports were larger and in the nine
months following Clevelands election and all
previous months under the Mckinley tariff inn
ports were larger. With much higher pros
perity now and much greater ability to pur
chase and pay for foreign goods, the country
IS buying of them smaller values than In the
prosperous years during the previous era of
protection The only admissible explanation
is that the wonderful progress of home indus
tries has enabled the country to produce great
variety of articles more cheaply than they can
he supplied by foreign works. That this Is true
the astonishing increase In manufactured cX
ports gives ample proof. and when the detailed
returns Of imports for February nre received ii
will he found that the rise compared with other
periods has not been In products OF manufact
urc so largely as in materials of industry and
in articles OF comfort or necessity not largely
or not at all produced in this country. II the
manufactured exports nevertheless covered In
February about 60 per cent Of all imports there
Is small comfort In the returns for the foes Of
the National policy which yields such fruits.
II the lawmaking needs Of this State are no