The Providence news. (Providence [R.I.]) 1891-1906, 1902-08-08
IMPORTS INCREASE WHILE
THE EXPORTS DECREASE.

An Increase of 10 millions I'm imports OF
IRON and steel manufactures and de-
crease of 10 millions In the exports of that
class Of articles. is the most striking
characteristic Of the commerce OF the
year Just ended. The total imports or
iron and steel manufactures In the fiscal
year Just ended were s27. .255 In value
against s17s74,7 7Ss in the preceding year,
while the exports OF iron and steel manu-
features were S0s. 52.b6a against nl7. BIASED
In the preceding year. This makes the TIM
ports OF the year larger than those OF any
preceding year since 1898. This subject "
discussed as follows in the annual report
of the chief OF the bureau OF statistics
just completed.
THE most remarkable feature In the
years commerce In manufactures has
been that which relates TO tho movement
IN the manufactures of iron and steel. In
this class OF manufactures the exports
have fallen of SO. 100000, In round figures,
and the imports have Increased $1o.W00OO.
For many years prior 90 1901 the exports
Of iron and steel had steadily Increased
while imports has steadily decreased.
Expectations OF iron and steel manu-
factures increased from $4,000 900 In value
IN 1850 to si2i. 100000 IN 1900. while imports
Of iron and steel decreased from $67 600 600
IN 1882 to 81. 900 900 In 1889. In 1901, how
ever, the exports OF iron and steel fen TO
Sill. 900 and In 1902 to s9S, 900, 900, while
the imports OF iron and steel increased TO
go. 100000 In 1900 and to sH.coo.0oo In 1902.
Thus the exports OF iron and steel In
the fiscal year just ended are s2S. 900 900
below those OF 1900. and the imports or
iron and steel are x140oO,00o above those OF
rS9o the total imports OF iron and steel
for the year 1909 being greater than IN
any year since 1893. This increase In Inn
ports OF IRON and steel has been general
practically every class showing much
larger figures OF imports In 1902 than In
1901. Tin plate, for example. shows an in
crease OF over So 100000; ingots, blooms
and bars over million dollars; pig iron
over a Million and other classes I'm about
the same proportion.
The cause OF the remarkable increase
IN imports and decrease In exports OF iron
and steel is stated by the secretary OF
the Iron and Steel association. Mr.. James
NJ swank. In his annual report issued
!. in leo2, as Follows
"a marked change has taken place IN
our foreign trade In iron and steel since
thie subject was prominently referred to
IN our annual reports In 1899 and 1900 m
1879 and Immediately preceding years the
from and steey industries I'm Europe were
exceptionally prosperous there was an
active demand and prices were high. Ir
the years just prior 20 1899 the prices OF
from and steel IN the United States were
lower than they had ever been. Under
these conditions we naturally found OPP
portunities 20 dispose OF our surplus iron
and steel products In neutral markets, and
even I'm the home markets OF our Euro
p<an competitors.
But these conditions have materially
changed; tho European demand and Euro.
pean prices have declined and the home
demand upon our own iron and steel
works has greatly increased while our
prices have advanced; hence sharper com.
petition IN neutral and all foreign mar.
kets and Increased foreign competition IN
our own markets The figures OF Increase,
Imports and DECREASED exports Of iron and
steel should not be hastily dismissed hy
our iron and steel manufacturers We
hope that they will lead them. instead
20 dismlss the thought that the world,
markets for iron and steel are to be easily
captured and held.
The activity In our export trade in iror
and stesl In the last few years was ex.
esptionai and abnormal Not only r. Eu.
sope adopting our improved methods of
rnanufacture but II will always have
cbeap labor. and by these agencies A car
hold IT'S own markets and actively and
asreesiveiy contend for the possession
OF neUtrai markets. For our iron and
steel industries. as well ss for all other
domestic manufacturing Industries. our
home market must always be our bes,
market"
u Seems not improper 10 add 20 the
above statement of the causes OF resuc-
dion IN exports OF iron and steel that one
Of the principal causes 81 the low prices
n foreign markets seems likely 20 ter
inmate IN the near future. These redpc-
Glsns IN prices were. it II stated on good