The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1901-07-05
OUR FISCAL HEALTH.
SPLENDID SHOWING FOR THE PAST
NINE MONTHS.


In view of the vigorous movement
Sust now going forward on the part Of
out and out free traders and semipro-
tectionists for heavy increase of our
purchases of foreign commodities by
means of a material reduction of i'm
port duties or by means of SO called
reciprocity treaties, it is well to take a
glance at the international trade situa-
ton as represented by the imports and
exports of the United States.
Three-quarters of the current fiscal
year have passed, completing a record
that must be gratifying to all Amer
lean citizens who desire to see the bal
ance Of trade continued on the right
side Of the ledger and a continued
healthy growth in the commerce of the
country. esfs2' 55sssf IS $50
The most ardent advocates Of low
tariff duties as a means for extending
American commerce to foreign coun
tries will not be able to demonstrate
In argument from the theories he ad-
vances anything that will approach in
soundness of economic policy and sat
isfaction in results what has been &C.
eomplished under the protective pol
Icy during the past four years In the
first tbree-quarters of the fiscal year
ended in 1897 the aggregate exports of
products from the United States were
about 1925, 100000 worth.
For the first three-quarters of the
fiscal year which will end on June 80
next the aggregate exports of products
from the United States was 81, 100000
600 worth. These are remarkable fig
ures and must be accepted as demon
strating conclusively that the effect Of
the protective policy is not only to re-
tain to the domestic producers the mar
kets of this country, but by adequate
protection to domestic industries the
production Of commodities in this coun-
try is so encouraged and stimulated
that our producers are able to not only
supply the domestic market more COM
pletely than ever before, but are also
able to extend their trade into foreign
markets.
The record for nine months just end
ed shows surplus Of exports over i'm
ports amounting to $540,0 100000 in val
ne. Thus 1t Is that the result of four
years Of protection has not only been
to encourage domestic industry, but it
has been also instrumental in promot-
ing foreign trade among our domestic
producers to such an extent that we
are now selling abroad practically dou-
BILE the amount of products that are be-
Ing imported. Compared with the cor
responding three-quarters of the fiscal
year ended in 1900, the aggregate of
goods imported free Of duty shows a
decline this year amounting to nearly
$40,000,00O worth, and the total of the
decline in all imports, free and dutia-
BILE, for the same period amounts to
nearly $43,O00,000 worth. For the same
periods under consideration there has
been an aggregate increase in the ex-
ports of domestic products amounting
to nearly $S5.0OO,00O worth. The rec
ord for the nine months just ended
shows an aggregate increase Of exports
over imports compared with the CORE
spending period in 1900 Of about $780,
10000 worth.
In times of business prosperity, such
as this country has Enthusiastically en-
5oyed during the past year, the con-
sumption of products of all kinds is
naturally much greater than during
times Of business and Industrial de-
preston. The logical consequence of
such increased consumption should be
increased importationS of foreign made
goods. Such would be the case, IN
doubtedly, If the rates Of customs du-
ties were such as to invite impOrta-
tons of foreign made goods. But the
fact is that with the tariff rates con-
tinued on protection lines and the do
nestle producers being better able to
supply the domestic market, there is
q decline in importatiOns, and the Go
nestle producers are not only able to
supply the increased home consump-
ton, but in the past nine months they
have increased their sales abroad to
the amount of $S5,OOO,OOO worth of
domestic products.
But it is urged by the free traders
and their semiprotectionist ccngeners
that our sales to foreign countries
would greatly increase if we were to
reduce our tariff duties so as to ad-
NIT a larger quantity Of foreign prod
ucts. We have been told the same
thing for many years past, but it has
invariably happened that in periods Of
adequate protection our export trade
has increased. At the best the free
traders and semiprotectionists are
guessing and theorizing when they as
sert that we would sell more II we
bought more. What we know to GER
tainty is that under the Dingley tariff
we have for four years kept right on
selling more without buying more, I'M
til our yearly trade balance is $780,
100000 What we also know to GER
tainty is that sweeping reduction of
tariff duties, either by outright repeal,
by a tinkering scheme of revision or
by the roundabout method of special
trade treaties, would displace domestic
production and su1plant domestic la
Dor by precisely the increased amount
Of foreign commodities that found en-,
trance to our market. Taking Into ac-
count our splendid industrial and COM
mercial position as disclosed by the
foreign trade statistics for the first
nine months Of the fiscal year 1901 and
keeping in view the vital interests of
American labor and industry, the free