Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-07-17
DECREASE N EXPORTS
Chief of Bureau OF Statistics
Says 1t Was Largely Due to
the Drouth.
Shortage in Corn Crop of 1901
Cut Short Live Stock
Shipments.
Cotton Exports in 1901 Greatest
in Value in Many
Years.

Washington. July 17.-The drop OF
/ S105.000.o000 in exports and increases o.
$19,0oo.000 in imports is not looked
iistics as a cause for anxiety regarding
the future of our foreign commerce.
at was perfectly apparent when the
result of the drouth of 1901 became
known" said Mr.. Austin that our ex-
ports in 1902 must fall off, and the only
surprise to me is that the loss WAS not
greater. The corn crop. as is We'll
| known. is the chief reliance of our
Hammers for preparing for market the
Hive stock of which we NOW export over
200 million dollars worth annually in
/ the form of provisions and live ANIMALS.
In addition to this. we have been eN-
/ porting about $100,000,000 worth of the
/ surplus corn and oats left over after
| feeding the live stock of the country.
| The great reduction of the corn by the
drouth, of course. reduced To almost
nothing the surplus corn that could be
spared, and also caused the use AT home
of Il much larger share OF the oats, and
so reduced the available surplus of that
class OF farm products. The result is
that the expectation OF corn fell from
i ~ 100000 bushels in the fiscal year
1901 to 2I.G00.000 bushels in the fiscal
Year Just ended and that of oats from
81 600 600 bushels TO 100000. The drop
in the value of corn and corn meal and
oats and oat meal exported is over Co.
0O0, 900 dollars. Fortunately the farm
ers learned quickly to economic their
depleted corn supply and to substitute
other materials for it, and therefore the
reduction in expectation of provisions
and live animals is only about S6,000,
600
1T also became apparent in the early
part of the year" continued MIR. Aus
tin, that the value of cotton exports
could not be expected to reach the phe-
nomenally high figure of the preceding
year. The export prices of cotton in
1901 were the highest that had been
realized for many years, and as result
the total value of cotton exported IN the
fiscal year 1901 was greater than IN amy
previous year in the history of our
commerce, amounting to over 3ooooo-
600 dollars and forming more than one
fifth of the total value of the exports
of that greatest year in our export
trade The average price OF cotton eX-
ported in the fiscal year 1901 was Dear-
ly nine and one-half cents per pound.
while the average export price in the
fiscal year 1902 was eight and one
fourth cents per pound. So it is not
surprising that the value of the cotton
exported in 1902 fell S24,0o0,0OO below
that of 1901. altho the quantity ex-
ported wac actually 160.00o.o0O pounds
greater in 1902 than in 1901
The third item of reduction in eX-
Forts" continued MIR. Austin. lis in
of iron and steel. The
figures for the full fiscal year have not
vet been received. but, judging from
those of the eleven months which have
been received, it seems probable that
the reduction in iron and steel exports
is due in part, it is believed to the fact
that German manufacturers found it
necessary by reason of the depressed
conditions in that country last year. to
unload their surplus stocks of iron and
steel manufactures q greatly reduced I
prices, thus temporarily Gnsettling ana 7
prices in foreign countries
while, on the other hand, the I
home demand in the United States for
IRON and steel manufactures has been I
larger than ever before and in many
cases beyond the capacity of our manu-
facturers to supply. The result of these
TWO conditions was Il reduction of about
s20.0o0,O00 in the exports and AN in
erease of nearly Sl0,000,000 in the i'm
ports of iron and steel, and the total
mportations of ro.i and steel for the
fiscal year just ended will probably eX-
iced those of any other year since
IS93'
The increase in importations." said z
Mr. Austin, in conclusion, lis especially
i'm view of the fact that it
'hows a healthy condition in our man
industries. While the fig 7,
Tres are not sufficiently completed to
,ermit an analysis for the full twelve
months. the fact that the ANALYSIS for
he eleven months ending with May
howed an increase of over $e5,0OO0O0
n manufactures materials is n suffi- /.
lent explanation of the total increase
# S19,000.0OO of imports in the full year
materials imported
uring the year will amount to about
420.ooo,oOo in value, or AS per cent of
he total importations. This is not only
he largest Importation of manufacture
rs materials ever known. but they
orm larger percentage than ever be- :
ore of the grand total of imports. not +,
the fact that the total inn !,
orts are the largest in the history of ,
ur commerce."
.DMlTS AMERICAN c,lpprmncx i