The Owosso times. (Owosso, Mich.) 1897-1926, 1899-09-01
orandest Of Pro,ection Years.
From American Economist:

ioih AmcfiSun HSohohhtos'
The fiscal year just ended, the second
year of restored protection, was a grand
year for domestic industries. In the
year ended June 30, 1899, American
manufactures made their best export
record. Not only were their expectations
larger than in any proceeding year,
but for the second time in the history
of our foreign commerce they exceeded
the value of the imports of manufac-
lures. In the fiscal year 1898, for the
first time in the history of the manufac-
turing export trade, the expectation of
manufactures exceeded the importation
of manufactures, the total value of ex-
ports of manufactures being about 25
per cent. in excess of that of imports of
manufactures. In the fiscal year 1899,
however, despite the increase in inn
ports of manufactures the total expor-
tation of manufactures was 30 per cent.
greater than the importation of manu-
features, being 1888, 667, 794, against
$3.50, $40, 293, of imports of manufac-
lures. Such showing would be, as it
always has been, impossible in the alb
sence of an adequate and intelligent
protective tariff system.
Prior to the fiscal year 1898 imports
of manufactures were always greater
than exports of manufactures. From
1888 to 1897 imports of manufactures
ranged about 81, 100000 day, with the
single exception of 1894. During all
that time the expectation of manufac-
lures was steadily increasing, so that
in 1897 they amounted to S277, 600, 900,
against $3.50, 600, 900 in 1888 having thus
more than doubled in that period. In
1898 they were $780, 697, 1854 and in the
year just ended as already indicated,
1888, 687, 794. 1t was not until 1898, after
eleven months of the Dingley tariff law,
that through the combined reduction of
imports and increase of exports the tide
turned in favor of American manufac-
turers, and in that year the total exports
of manufactures were, for the first time,
greater than the imports of maniac
lures, being $500, 697 S54, against $780,
897,676. In the fiscal year 1898 the ex-
ports of manufactures exceeded the inn
ports by $50, 100, 67S, and in 1899 the ex-
ports of manufactures exceed imports of
manufactures by $40, 097 sol.
Imports of manufactures in 1899 were
nearly 800 100000 less than in $780,
while exports of manufacturers were
nearly 5000, 000 600 more than in 1890.
Is not this remarkable showing for
the wise policy of protection intelligent
ly applied'
Manufactures in 1899 formed larger
PERCENTAGE of our total exports than in
any preceding year. During the last
half of the year this was especially true,
in some months the exports of manu-
features being more than 33 per cent.
of the total exports, while for the entire
year they were 2S.13 per cent. of the
total exports, against 1851 per cent. in
1897, 23.14 per cent. in 1895. 2114 per
cent in 1894, 1887 per cent in 1891, 18. 80
cent. in 1889, 1860 per cent. in 1888 and
12.4' per cent in 1880. During the last
half of the fiscal year 1899 exports of
manufactures averaged fully $780, 900, 600
per month, and during the entire year
averaged more than 81, 600, 600 for each
business day.
The following table shows the imports
and exports of manufactures in each
year from 1890 to 1899: