New-York tribune., 1901-07-24
RECORD BREAKING FOREIGN TRADE.

Americans will view the statement Of foreign
commerce for the fiscal year ending June 80
1901 with justifiable pride. That it is graft
flying record the gloomiest pessimist must
admit, and chronic calamity howlers will find
comfort in a study of the statistics just made
public The aggregate movement of merchan-
disc was valued at $3.50 ABBOTT. an increase
of about 3 per cent the previous year.
which far exceeded all earlier periods More
over, this large total obtained in the face
of decreasing imports. as our purchases from
other countries fell off $271S4651, or 30 per
cent to 1922. 756, ,533, leaving the value of ex-
ports 1.4S7, ,65G544. increase of Z per cent
over the previous year. which in turn far ex-
ceeded all earlier yearly shipments. 1t is this
expansion in sales to other lands that tells the
story of commercial victories. Great Britain
reported larger total foreign trade than the
United States but the British excess was In i'm
ports. In relations with England, the
years record, according to 1.-THE London Stat
ist' shows a balance in our favor of f130,
900.
Subtraeting the value of imports from the ex-
ports, it appears that In the twelve months
just ended the United States is S664,9ooO1l
ahead merchandise account. which is much
the best showing made. Compared with
the preceding year. there is a gain of Sl2O.-
35S, 113, and the only other year which comes
any nearer was 1898 when the balance was
only $40, ,467 $50 smaller. This was directly due
to the fact tina. imports that year were excep-
tionally light, owing to the enormous receipts
during the closing months of the preceding
year. when goods were hurried hither TO escape
the higher tariff rates about to become ef-
fective. Including the net exports of SlI,9Ol'l59
worth of silver. and net imports OF $ll.342,35z
gold the final balance is favorable one of
. III
to foreign vessels for freights, the expenditures
of American tourists money sent home by i'm
migrants and interest on foreign money In
vested here there still remains comfortable
balance which has either been loaned abroad
at good rates or expended in the purchase of
American securities from holders in Europe
which means less interest to go abroad here
after In either case the financial position of
this nation has been strengthened TO an extent
that is fully appreciated in the money markets
OF the world.
At this time when there is so much discussion
regarding the grain crops and the amount re-
ouired abroad, the official report of exports
Is especially interesting and instructive. In
cluding -four at the ratio of four and half
bushels Of wheat to the barrel. total shipments
of wheat in the year ended June 80, 1901, were
214pD1 061 bushels, valued at S16o,3366t1
against 1S4 761, 153 in the preceding year. worth
S13997S.453. During the same twelve months
176. .5SS, ,352 bushels OF corn went abroad, valued
at $50. .015 226 against 207 1885, 635 in the pre-
ceding year. when prices averaged lower and
the total value was $S4 663. .694. The movement
Of cornmeal is comparatively unimportant. be-
ing valued at only about 100000 annually
Notwithstanding the sharp decline in the GUAM
tity Of cotton exported during June. which is al
ways a quiet month with foreign spinners. the
total for the year was $500, 54S bales. an in
crease Of 414,471 over the preceding twelve
months but a considerable loss compared with
earlier years. when prices were much more at
tractve. The average export price for the ten
months OF the current crop year was "a cents
n pound. far above any years average since
1851 and the total value OF shipments for the
year was 1913 2sS57s. large increase over the
best previous record, made ten years ago, Meats
also established new highwater marks in the
value Of foreign purchases making the year
most encoura gng one for domestic growers of
agricultural products.