The sun., 1899-07-16
GROWTH OF OUR WEALTH.
sPLENDID SHOWING FOR THE YEAR
ENDING IN JUNE.

Exports Enormously In Excess of Imports
Despite Conditions Which We're Ad-
verse to Such n Result-Tho Increase
Was Chiefly In Manufactured Products.
The nations balance sheet for the year
ending in June shows increases in the for
eign trade that. all things considered. are
marvellous. In spite OF 4 war that disturbed
the run OF things. in spite of abundant crops
in other countries and consequent decrease
in the demand for foodstutfs. the total OF the
foreign trade OF the country reached the enor-
nous sum Of ST .124 800 .S13. which is $4,000
600 greater than in any previous year in the
country's history. and the figures show the
United states TO be on the right side OF the
ledger by the enormous sum OF $3.50. .388O37.
We sold to other countries that much more OF
our product than We bought OF theirs. At the
same time we purchased from other countries
S81 .027734 worth more OF their products
than we purchased In the preceding year.
The Importance OF the showing Is here.
Whereas in other years the imports OF the
products OF other countries have consisted
largely Of their manufactured preduots, In the
year Just past the imports have consisted large
ly OF the raw material Of other countries.
which we have taken into our factories, worked
into the finished product and sold back to the
countries from which we made the original
purchase.
In 1898 10 per cent. Of the exports OF the
United States consisted OF agricultural and food
products. Crops in other countries had been
bad. The war was threatened and with it there
seemed possibility OF a blockade OF American
ports that would hinder the exporting of bread
stufrs and all other products. For that reason
Europe made haste 10 her purchases OF wheat,
corn and tho like. The storehouses were in
creased in size and they were filed to over
flowing with American grain before the war.
Our wheat for the year averaged $3.50 centsla
bushel and our cotton 5.tS cents a pound
During the past year our wheat has averaged
, only 7477 cents a bushel and our cotton
/ sos cents a pound. We exported this
year "a. 100000 bushels less OF corn than We
did last year and our exports OF agricultural
, products generally footed up SS6.OOO.OO0 less
than in 1898. These figures emphasize the
wonderful progress that has been made by tho
American manufacturers. In spite OF the great
reduction In tho value OF agricultural products
exported the total exports are within $4,000
600 Of the total OF 1893. That is. $50 100000
OF the 3S6, 10000 loss in agricultural exports
was made up by the increase in the export Of
manufactured products. The American man
ufacturers. while paying higher wages than
I the manufacturers OF any country on tho face
! of the globe. have been able to send their prod
/ ucts abroad and sell them successfully in com;
! petition with the products OF the lower paid
wOrkmtn OF tne OtneT countries.
/ large part OF the Increased exports o.
! manufactured products has Of cours" been IN
! iron and steel, the demand for which in all
! parts OF the world has been unprecedented.
OF the imports Of tho year. about S3OOQuO.-
| COO were admitted free OF duty and about
| S4O0 600. 900 worth were dutabe There was
| an increase of Ss.7l7.}2S in the value OF the
| duty FREQ imports and an increase OF S1O1.-
| 2OG.380 in the dutiable imports. The duty
| terials OF the Old World sent to our manufac
| turers to make into finished products The
| report OF the Bureau of Statistics shows an
| increase OF SAT. 900 900 worth Of raw material
| for the use OF our exporting manufacturers in
! the last eleven months. and that gives some
| idea of the revolution in trade that is going on
! When Americans gain markets for their goods
exports OF manufactured articles iS certain To
: continue.
With Americas tremendous excess OF eX-
| ports over imports and tn" consequent balance
| Of trade the gold OF other countries must nee
! essarily travel our way The figures Of the
| gold exports and imports for the fiscal year are
| interesting. During the year We imported
| S5l. .4325i7 more gold than We exported; Dur
! ing the year also We produced StO,OOo.OD
| worth OF gold in our own mines so we have
| got Sl1O.OOOOOO more gold than we had year
| ago. In the last three years we have imported
| S2O1 07l 900 more gold than we exported. In
| that time we haYe produced Sl5O,NO.Op
worth OF gold from our mines. ana II you, add
| the two together you will find that We. have
| we had when William Mckinley ran for Prcsi-
| dent and the present Republican Adminstra-
| tOn took charge Of the affairs ofthc country.
| SuN realerS who like figures might study
with profit the following table Of exports and
| imports for the past ten years: