The times., 1899-03-13
HEAVY EXPORTS
FOR FEBRUARY
The Month Past Has Been a
Record
The Price of Wheat Shows Great
Decline.
The Years Business Promises to BE
the Largest in the Coun-
try's History.

February exports are likely to prove
the largest of any February in the history
OF the export trade with the single excep-
tion of that of 1895 The preliminary state
ment of the exports of breadstuffs. pro-
visions cotton. and mineral oils, issued by
The Bureau of Statistics, gives the total of
those articles at S55. .sS9. .s94. against $40
| S43. sec in February 1897; S52,114,3T3 in
February 1896, while with the single eX-
ception of 1898 no February shows as large
exports Of these articles. The figures for
February. 1898. are $62 2009, $50, about So
10000 greater than those of the month
just ended.
This slight reduction in February, 1899,
as compared with the corresponding month
of 1898 does not indicate an actual reduc-
tion in exports, but merely slightly lover
price for some of the leading articles eX-
ported. Wheat exports, for instance, in
February, 1S99 are nearly 100000 bush
els. against 1000 600 bushels in the corre-
spending month of 1898. while the value
is given at S1,3}5. 39g against S6,434.O2S in
the corresponding month OF last year. The
exports OF wheat in the eight months end
ing with February, 1899. amount to lnS,-
S07, 500 bushels. against l0l. .562 bushels
in the corresponding months last year,
while the value is but SSl.li3, ,0i9. against
S93. .9S2 j66 in the corresponding months of
last year. The exports of corn in the
eight months ending with February, 1899,
amount TO 111.Sl1,13S bushels. against l20,-
551 1863 bushels in the corresponding eight
months of last year, a slight reduction in
quantity, though the value of the corn
exports for the eight months ending with
February. 1899, is $43.5l6,T70. against SAL
O96.356 for the slightly larger quantity ex-
ported in the corresponding eight months
Of 1885.
1t is therefore apparent that while ex-
port prices of corn are slightly higher
than those of a year ago, those of wheat
are materially less, and that il is this re
duction in the export price of wheat which
is making the apparent falling of in our
exports. In other words. it is not reduc-
tion in volume Of exports, but in the price
obtained for this largest article Of export
trade.
While the wheat producers are not OBJ
tanning as satisfactory prices for their
products as they did at this time last
year the cotton growers are more fOrtu
nate. The February exports of cotton,
which amounted to 2S3. il2 105 pounds
were valued at ST., 1926, 463, while 35S, S35. SEQ
pounds exported in February of last year
were valued at but 81 j, ,l67, the average
export price last year being below &c per
pound, while this year il is considerably
above &c. In quantity the February eX-
ports of cotton in 1899 are larger than
those OF February of 1897 or 1886, but con-
siderably below those OF February Of last
year. in practically all articles. aside
from wheat. February exports seem likely
to be more satisfactory than usual, thoss
of provisions in February 1899, being
larger than in the corresponding month Of
1898. 1897 or 1896, while manufactures
continue the steady growth over last year
and over any preceding year.
The reduction in prices of agricultural
products is plainly apparent in the rea-
tive proportion of the total exports which
they form in the seven months ending with
January. During that period they formed
but 6902 per cent of the total exports
while in the corresponding months of last
year they were 7l.SS per cent Of the to al
exports. Manufactures make very salts
factory showing, their percentage OF the
total exports being 2i.14 per cent, against
% .5S per cent in the corresponding months
OF last year. On only two occasions have
the exports of manufactures shown in the
fun fiscal year as large percentage Of the
total exports as in the seven months just
ended, although the value OF the exporta-
tions of other articles has been unusually
large. 1t seems probable that the expor-
tations Of the fiscal year which ends June
go 1893. Will be the largest in the history
Of the country, the revised figures for the
seven months showing total Of SIig 40
34S, against S1lS 3GI, 4G1 in the correspond
ing months Of 1885 the year making the
largest export record in the history of our
commerce.