The sun., 1901-10-09


less than $65,000,000.
Without stopping to analyze or discuss
what is called the balance Of trade, it
is evident that for four or five years
past we have been paying at rapid
rate our indebtedness TO other countries,
however incurred, displaeing foreign in
vestments in our own country, and more
or less lending and investing abroad our
selves. This has occurred at a time
when the development OF our domestic
industries and internal and cOastwise
commerce has been going on ut an un-
exampled rate. No country is more suf-
ficent unto itself, and less dependent
upon foreign trade, than the United
States. That is in effect only an outlet
for surplus production and for the EN-
ployment Of accumulated capital. Ma
tions sell their products abroad only to
obtain what they need and cannot pro-
ducp to advantage for themselves or to
dispose of surplus of the fruits of their
own activity above heir needs on the
best terms, thereby adding to their
wealth. As the nation in this sense
consists of .he mass OF its people, the
same principle applies as in trade be-
tween individuals, and the relation Of
buyer and seller is analogous in the two
cases. One buys what he requires for
his wants TO the extent of his ability to
pay, and sells what he has in excess Of
his wants to the best advantage, and
the one that possesses the greatest pro-
dnctive capacity satisfies the largest
range Of wants and acquires wealth most
rapidly, becoming more and more an
employer of capital and creditor of
others. The United States has in recent
years attained the position of nation
that has much to sell and corresponding
ability to buy and to pay; and it is the
largest seller that requires the greatest
command over markets.
Next in interest and Importance to the
volume Of our foreign trade is its char
acter and the changes that gradually take
place in the articles which we import and
export Conf ming ourselves to the period
since 1880, which marks a new era il
our foreign commerce, we will note, first
the general division Of imports, ant
point out the Significance of the changes
We are not 10 overlook the general in
fluence Of an increase Of some 20 pc
cent. in the population Of the country il
ten years. In 1891, when the total valu
VI bhl lthIlpi 10 vi illtItlhtltllSt was Nstf,
9l6,19G, those classed MS food and liv
animals amounted to S2Sl so, Dos. 0
! 33.I2 per cent. of the whole: "crude arti
e clcs for domestic industri, - mainly ray
! materials of manufacture. S1W5S2. .S1t
@ or 23.2I per cent. manufactured article
i for use aS materials in mechanic arts
/ 500, 132,526, Or 1921 per cent, a
e amount much larger than i'll the preceC
o ing Or any subsequent year; 'article
Q manufactured ready for consumption.
n S136,99l ,324, or 16.21 per cent; "articl,
e of voluntary use, luXurics, etc." SILT
Il 330,230, or 1880 per cent.
j. Coming down now to the last fisc:
), year, ending June 1901. we find til;
ic the total imports were SS22, ,673016.
If less than ten years before. Those classe
s. as articles of food and live animals wel
q, valued at S222, 22I sos, or 2T,02 per cen
r crude articles, or new materials, S26
1t 7G3404, or ~ 10 per cent: partly man
0, factured S79,0S0,716, or 961 per cent
IS manufactured ready for consumptio
20 S130,i62,903, or 1888 per cent; for ',
rs untary use, Injuries, etc, $120,93S0
st or 14.70 per cent
- Here we have, in Il decade of largs
increased population and growing indl
try and trade a reduced volume of i
ports of almost every class, indicati
~ the extent to which we are supplyi
ls ourselves with what we formerly houe
from abroad. Our foreign trade used
= consist mainly of the expectation of 70
IN supplies and raw materials and the j
Is portatiOn of manufactured goods, eSl
ur cially of the finer grades. Our fo
re- imports consist largely Of products
he tropical climates. In 1890 our import
ne sugar was valued ut over S96,000, ,Ot
ng of coffee STS,0O0,000 and tea S12, 300 On
81 to say nothing of S20,000,000 of varit
of fruits and nuts. The CONSUMPTION
in sugar has largely increased, but the va
ill of that imported in the last fiscal v,
Ter was under SSS,00O.0O0 showing lar
zee ly increased production at home Th
to was a slight falling off in the value
as fruits and nuts imported, though tn
lt, must have been a considerable incre
"A. in their consumption. For coffee i
as tea we of course rely upon other 60
he tries.
III
Is. The raw materials whici we inn
nm consist most largely of hides and ski