The Indianapolis journal., 1903-09-17
Marked Decrease in Exports and
Heavy Increase I'm Imports, Espe-
cfaIly from the United States.
GREAT MASS OF STATISTICS
EVIDENTLY INTENDED TO SUP/ORT
PREMIER BALFOUR's vIEHS.
Wages, Cost of Living, Incomes and
other Matters Discussed in Five
Hundred Pages.

LONDON. Sept. 16.-On the heels of Pre-
mier Balfour's academic exposition of his
personal views OF the fiscal problem in the
pamphlet on 'Insular Free Trade" advance
sheets of which were issued last night,
came the ongpromised and much-demand-
ed government statistics dealing with that
subject. They were issued to-day by the
Board of Trade in the shape of a blue book
of nearly 500 pages, bearing ables of figures
showing the various aspects of British and
foreign trade and the industrial conditions.
No deductions were drawn. though the pub
lication teens with interesting news upon
what are regarded as points OF fact. The
references TO foreign trade were chiefly
confined to France Germany and the United
States.
One Of the most important phases dealt
with in the blue book are imports and ex-
ports. The tables show that exports from
the United Kingdom to the United States
declined from s1450OO0O0 in 1890 to So, 800 900
in 1902 while the imports rose from SASS. co.,,
COO TO seas, 100000. The total exports to all
foreign countries declined in the same
period s9O.O0O.OOe, though when the colonies
are included the decline only amounts to
S5,00o,000. The proportion of the United
Kingdom exports as between protected and
unprotected countries in the markets of the
werld has been reversed since 1890 Then
IL was Sc per cent. to the protected coun-
tries and "A to the others. In 1902 the pro-
portion was 42 per cent to the protected
countries and IS per cent. TO the others.
valuable explanation is given to the
much-quoted excess of imports over ex-
ports. which has so often been held to be
a sign of British trade decline. The blue
book says that while the excess yearly
averages about $500. 100000, the income re-
ceived from foreign Investments. calculated
at $3l2500,0Oo, added to the earnings of the
trade, calculated at $3.50. 900 900, is prob badly
more than sufficient to account for the
average excess OF imports. Such estimates
have never before been included. hence
the misleading character of the usual fig
ures. Americans have made large invest
ments In the United Kingdom of recent
years, and American repurchases of railroad
and other securities are admitted to have
TO some extent affected the fiscal figures.
but they are not likely to form a serious
factor.
TIN PLATE INDUSTRY.
Much attention is devoted to the tin plate
industry and the effect Of the Dingley and
Mckinley tariffs. The figures show that
the total exports of the United Kingdom
has declined only little over IS 900. 900 since
1897. with a marked increase in the quanti-
ty produced and the value of a number of
the mills since 1898.
Dealing exhaustively with the tariffs of
all nations. the blue book says the Ameri-
can system of drawbacks necessarily re-
yield an export bounty to the best equipped
manufacturers, while others sustain
loss"
In a table showing the ad valorem equiv
a N inn
countries on the principal articles of Brit
ish exports, Russia comes first with 131
per cent, the United States next with 13
per cent, and Austria follows with 80 per
cent. Though Germany comes sixth, il is
pointed out that her existing tariff is so
effective as to be more highly protective
against Great Britain than the percentage
shows.
Before the trade Of the United Kingdom
and any of the colonies could be reserved
to British vessels the Board of Trade states
that existing treaties with Austria, Greece
and other countries would have to be de-
nounced.
The tables show that the United Kingdom
is most dependent on imported wheat, the
United States being wholly independent
The question of wages and the cost Of
living, ana especially the price of food.
which has figured so largely in the recent
Chamberlain agitation, takes up pages and
is summed up az follows: THE average
level of wages I'm the United States is
Kingdom, while in Germany wages are
only two-thirds and in France three
fourts of the average prevailing in the
United Kingdom"
FAMILY INCOMES
The percentage of family incomes, taking
New York as the capital of the United
States, is estimated ION the basis of 100
per cent. for the United Kingdom) for the
United States 123 per cent. for France SO
per cent. and for Germany 50 per cent.
The mean weekly rate of wages in skilled
trades in the United States is estimated at
179 per cent. and in the United Kingdom at
100 per cent.
Members of Alfred Mosely's former COM
mittee supply a series of conflicting an
swers to questions anent the feeding and
payment of American workers. The ma
jority incline to the helief that, allowing
for the conditions. there is little difference
in the United States from the United King
dom.
Dealing with the iron and steel trade the
board reports that employment has fallen
off in the United Kingdom since the intro
duction of the American tariffs. but that
very few works have actually been closed
1t points out that imports from the United
States have decreased since 1900.
The trusts OF all countries come in for
minute and impartial discussion. Pages are
filled with extracts from the report of the
American Industrial commission though
the board frankly says the precise value
of information emanating from officers of
corporations which well aware of the
suspicion. if not the positive aversion,
with which they are regarded by a large
section OF the United States is not easy
to appraise.
The report also says: THE available evil
dence goes to show that the United States
for some time past, for the most part has
been able to absorb a great proportion Of
the total output. and during this period of
exceptionally good trade in the American
home market the inducement on the part
of the American trusts to dump their sur
plus goods al low prices on foreign mar
kets has been slight as compared with
what might be manifested at n time of
industrial depression in the United States -
Dealing with the proportion IF American
goods which has been thrown on the for
eign market, the report says: This ex-
port trade could hardly have been carried
unless the foreigners were granted lower
prices than prevailed in the United States -