Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1903-07-24
OUR FOREIGN TRADE.

The last issue Of Bradstreets gives
some Interesting figures on the coun-
try's foreign trade. The exports for the
fiscal year 1923 were, in round num-
bers, $1.41o, 000, 900. exceeding those
Of any similar period except for the
year ending June 30. 1901, for which
year the exports amounted to $1,4S7.-
000. 900 the thousands being omitted.
The imports for the last fiscal year
were also the largest in the country's
history, amounting to $1,025, 000. 900.
This was an increase of $4,000, 900
over the last year and of little more
than $200. 00O, 900 over the year ending
June 30. 1901.
The balance of trade in our favor
has fallen heavily as a result Of the lar
ger importatfons. For the year end
ing June 80. 1901 the balance was
1864, OOO, 900, the largest ii. our history;
for the year ending June 80. 1902 it
was 47S,OOO.OOO and for the year just
ended the balance was $394,O00,OO0.
More striking still is the statement
that for the last decade there is balan
&c in our favor on merchandise account
of So, 929, 900 900, while for the entire
period from 1890 to the present time,
the balance in our favor is only 3d.
5S4, 900 900 less than for the last de-
$345, 000, 900 less than for the last de-
cade. There is but little political sig
nificence in this because the entire
period referred to includes thirty-four
years Of Republican rule, while the last
decade inciu1 as three years Of Dem.
ocratic rule.
The truth is that our foreign trade
depends upon conditions abroad as well
as conditions at home, and these for
eign conditions are of course beyond
the control Of any political party in
this country. During the first three
years Of the last decade our exports
were comparatively small, never reach
ing $500, 200 900. This was mainly ow-
ing to the depressed business condit-
ions in Europe which lessened Europ-
can purchases of American made goods
and at the, same time lowered their
prices. Obviously, the volume Of our
foreign trade. both exports and i'm
ports. must depend largely upon. ..4e
range Of prices at which the goods are
bought anu sold.
A still more surprising feature of
this trade Is the circumstances that
while the balance in our favor for the
decade Is almost equal to the worlds
entire stock Of gold coin, we have also
exported considerably more specie
than we have imported. On its face
it looks as II we had given away about
four thousand million dollars worth Of
goods. OF course we have done moth.
ing Of the kind. These goods have
gone to meet certain counter claims
which Europe has against us. These
include interest and dividends upon
European investments in America
freights paid to European ship owners
expenditures of American tourists alb
road, etc.. all of which mount up into
large figures.
It is because Europe has been able
to pay otherwise than in cash that sh<
has taken SO many Of our goods. Whez
she has to hand over money on q large
scale she will stop or greatly dimin
ish her purchases here because on rec
ognized economic principles she vii
have to. Our great trade balance ia
therefore. chiefly due to thu fact tina
In various ways we are heavily indebi
ed to other countries. Debtor nation
nearly always selllmor than they blu.
If they have anything to sell.
u!IIHINIlIIIIlIll
The Oldsmobile arrived from tn
west shortly after s o'clock Sunday al
ternoon. 1t stopped in front of tn
Commercial hotel and was soon sui
rounded by q curious crowd. The ms
chine was put in DR.. Gardner's stable
for the night. 1t was still in tow
when this was written.-Independen
sf aasH
w. r. Davis. q young man who ha
been working in the hay fields 9
Humboldt county, is in the Winnemu.
c. Jan charged with breaking into
house at the Riley ranch ct King
river and stealing seven razors. tw
revolyers, = pair Of silver mounte
spurs clothing and other articles. H
was captured ct Cain Springs IN
taken to Winnemucca and lodged I
jail.