New-York tribune., 1901-03-27
UNFATORABLE BRITISH TRADE RETURNS.

II is not surprising, in view Of official statistics
that English writer's express alarm at the back
ward tendency of Great Brtain's foreign com
merce. 1t is true that the total amount Of in
ternational trade of that country still surpasses
that Of any other nation. but the increase Is in
the wrong direction. February imports were
f2,063,631 larger than in the same month of
1900. while exports declined 70. 49,. .39i making
the trade balance about S2O.OOOOOO more on the
wrong side OF the account than in the same
month last year, when there adverse bal
ance Of about $40 600, even after including
S2I,S1,oD OF foreign and colonial merchandise
exported. 1t is this steady increase in require
ments from outside and gradual loss OF foreign
markets that make 1t a serious question TO
provide funds for carrying war
Instead OF being able call in funds from
other lands 10 make up the budget deficit.
the money must be raised at home. unless loans
are offered at good rates Of interest. Since the
financial centre Of the world has crossed the At
lantic Ocean TO NewYork II will be in this mar
ket that bond issues be most successfully
and readily foated An income tax Of a shilling
on the pound cannot be increased without caus-
ing much complaint. for the present rate is al
ready far above a normal average and little
below the amount levied during the Crimean
war on principal imports the customs tarifr
is now heavy. coffee paying 341 cents
pound. s cents, manufactured tobacco
~ cents cigars 81 21 and liquors from "a cents
up TO 81 20 gallon protective tariff on
articles produced in the United Kingdom would
make up the deficit and revive many declining
Industries.
The principal increases in imports during Feb
ruary. compared with the same month last
year fJ7S624 in sugar. fi96 6I2 in wheat
f3I9.3l5 in corn t2Oi 40 in oils f551 1863 in
cotton and f2T3 so in jute. Some Of the smaller
gains more significant, however. an increase
OF f23 400 In imports OF boots and shoes indi-
eating OF the points where American COM
petition is beginning to be felt most severely
The Increase of al 647 in structural steel fS973
in steel rails and f36516 in electrical apparatus
is also chiefly due to the enterprise OF exporters
in the United States The only exceptionally
large decrease in imports was f1.1I5.3oS in wool
Australian shipments falling off heavily.
Successful competition by Americans In the
worlds markets is also evidenced by the
parison of British exports. The most striking
item is a decrease Of fT63 1SI in value OF iron
sent out of Great Britain during February. as
loss of f536. 40 in coal is also significant. well
as f3T6306 in telegraphic wires and apparatus
and f160 500 in machinery other than steam en-
gines In woollens and worsteds there is a
noticeable loss. but cotton piece goods gained
f234 3I2 In exports of foreign and colonial
goods the moderate increase was due to a larger
movement of wool to the Continent. There was
an increase of 500 705 I'm imports of gold. owing
TO unusually heavy receipts from the British
East Indies Exports of gold were f32i 045
smaller than in the preceding February. The
net difference in silver movement was unim-
portant