Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1902-07-24
ly free. Part of the Congressional
record you know. Quite a scheme
wasn't 1t, yet strictly within the letter
of the law. Frank j. Stillman.
FOREIGN COMMERCE.
Conditions of the Exports and Imports
for United States.

Conditions of the Exports and Imports
for United States.
Washington, d. c., July 23.-The
drop of $105, 100000 in exports and in
crease Of $79,O00,000 in imports is not
looked upon by the chief of the bureau
OF statistics as cause for anxiety re-
garding the future of our foreign
commerce.
Comparison of Exports.
ut 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 on
ly surprise to me is that the loss was
not greater. The corn crop, as is we'll
known, is the chief reliance of our
farmers for preparing for market the
live stock of which we now export
over $200,O00,O0O annually in the form
OF provisions and live animals. In adj
ditlon to this, we have been exporting
about $500, 100000 worth of the surplus
corr and oats left over after feeding
the live stock of the country. The
great reduction of the corn crop by the
drouth, of course, reduced to almost
nothing the surplus corn that could be
spared, and also caused the use at
home of much larger share of the
oats, and so reduced the available sur
plus of that class of farm products. The
result is that the expectation of corn
fell from 100000 bushels, in the
fiscal year just ended, and that of oats
from 100000 bushels. to 100000
bushels. The drop in the value of corn
and anrn pooo1 oyporfod ic ornr ere
100000. Fortunately the farmers
learned quickly to economic their
depleted corn supply and to substitute
other materials for it, and therefore
the reduction in expectation of provi-
sions and live animals is only about
S6,O00,00O."
Cotton Used in Foreign Trade.
"It also became apparent in the ear
ly part of the year." continued Mr.
Austin, that the value of cotton ex-
ports could not be expected to reach
the phenomenally 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 ex-
ported in the fiscal year. 1901 was
greater than in any previous year in
the history of our commerce amount
ing to over $300,0O0,00O and forming
more than one-ffth of the total value
of the exports Of that greatest year in
our export trade. The average price
of cotton exported in the fiscal year
1901 was nearly nine and one-half
cents per pound, while the average ex-
port price in the fiscal year 1902 was
eight and one-fourth cents per pound.
So 1t is not surprising that the value
of the cotton exported in 1902 fell $24,-
100000 below that of 1901, although the
quantity exported was actually $780,
100000 pounds greater in 1902 than in
1901"
Iron and Sseel Falls Off.
"The third item of reduction in ex-
ports continued Mr. Austin, ''is in
manufactures of iron and steel. The
figures for the full fiscal year have not
yet 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
will about$20,00O,OOO. This reduction
is due in part, it is believed, to the
fact that German manufacturers found
1t necessary, by reason of depressed
conditions in that country last year,
to unload their surplus stocks of iron
and steel manufactures at greatly re.
duced prices, thus temporarily unset
ting and reducing prices in foreign
countries generally, while, on the 9th
er hand, the home demand in the
United States for iron and steel manu-
facturers has been larger than ever be.
fore, and in many cases beyond the ca:
parity of our manufacturers to supply.
The result of these two conditions was
reduction of about $20,0O0,OOO in the
exports and an increase of nearly $1O.-
100000 in the imports of iron and
STEEL and the total importations of
iron and steel for the fiscal year Just
ended will probably exceed those of
any other year since 1898"
Conditions of Imports.
"The increase in importations,'' said
Mr.. Austin, in conclusion, SIS especial
ly gratifying, in view of the fact that
1T shows a healthy condition in our
manufacturing industries. While, the
figures of the, year are not sufficiently
completed to permit an analysis for
the full twelve months, the fact that
the analysis for the eleven months end
ing with May showed an increase of
$65, 100000 in manufacturers materi-
ais is sufficient explanation Of the
total increase of $79,O0O,000 of imports
in the full year. Manufacturers mates
rails imported during the year will
amount to about $420000,00O in value,
or forty-six per cent of the total impor-
tations. This is not only the largest
Importation of manufacturers materi-
ais ever known, but they form larger
percentage than ever before of the
grand total of imports, Notwithstanding
the fact that the total imports are the
largest in the history of our com
nerce.
SELECT DELEGATES. ia
Republicans Of Van Euren County
Held Convention Yesterday.
.,~n