New-York tribune., 1901-02-16
IANr1pr rnRELGN TRADE

The first month II the new year brought "A
splendd addition to our credits abroad. ON
| merchandise account there was an excess OF ex-
| ports over imports amounting 10 S"t-I'l"'
against only S41 ,IO0.OiG In January. 100" which
WAS the opening month Of 10y far the most sat
isfactory year on record. 1t Is extremely graft
fying to find that the trade balance is S29,7lI,-
| ia better than in January ~ the banner year
and the outlook for another record breaking
| tweIy.month is consequently encouraging. In
Guiding net exports Of S1,621.203 silver and
| 81 06O 14I gold. the balance on both merchan-
disc and specie account shows that other ma
tions incurred an Indebtedness 10 this country
of So SOS $40 during January
More foreign loans are being offered here, and
| AT the present rate Of progress it will not take
many years to remove the United States from
| the list Of debtor nations even if we accept the
extreme estimates of our obligations when the
tide turned in earnest in 1896. There was a
balance in favor of the United States for the
five years ending December 81. 1900. of S2,4I6.-
| I43 POI on merchandise account alone, and after
this country develops its shipping so that fair
share Of ocean freghts is paid TO American
owners II will not take another 1--WE years 10
eliminate the item Of interest due abroad from
| all financial statements at the end Of each year
Total exports in January were Si36317 .354, an
amount never equaIled by the corresponding
month of any other year and I'm only four other
| months-December, 1898, and October November
| and December. 1900. Only two OF these months
| showed a large excess, due almost wholly to
| phenomenally high prices on fair quantity of
| cotton sent abroad. OF manufactured goods
| and all other than staple products the value of
exports in January was $51994I41 and while
full details are yet available it is well known
| that finished forms OF iron and steel make up
| large percentage. Structural material for
bridges. buildings, etc, has gone to British
colonies in the face of competition from English
producers and steel manufactures have been
sold in Great Britain to such an extent that
| makers there ask for reduced taxes in order TO
| keep their works in operation
OF the four leading staple products exports
were valued at ss4 322 613, an amount exceeded
| in the last three months of 1900. but only
two other occasions in the three preceding years
| There was a liberal movement of breadstuffs.
| valued at S24 1873 00S. against Sl15i3O3G in
1 January 1900. Scarcely any alteration appears
| in the shipments Of flour. but wheat exports
were u 6O5 0l6 bushels. against 0.o95.694 BUSH
| els last year. and in value more than double, or
| S. 9JsiO2l against 81. .3S4. .J03. There also
/ a good gain I'm quantity of corn. while the large
| advance in price made the increase in value
| about 40 per cent. from S6Oos,12i TO SS,43I 019
Both classes of provisions show a splendid gain
| over January, l.pb. EAports OF cattle ana hogs
were 81 939. S36 against 81 .s92 322. and prac-
| ticalIy all of the movement of cattle as ex-
| ports OF hogs were insignificant Cured meats
| dairy products etc. rose TO Sl5694 902 from
| Sll67o615 and the bulk of this was in hog
| products. although butter and oleomargarine are
| assuming an important position in the state
| n,ent
| While the quantity OF cotton sent abroad WAS
| only 7l72O9 bales against NaoSl last wear thu
| advance Of % cents pound in average export
p'ice made the value $35. s31 .92i. against S2I.