The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-17
BLUE BOOK ON TRADE
APPEARS IN LONDON
Results of the Governments
investigation Anent the
Fiscal Problem.

LONDON, Sept 16.-On the heels
o ~. Fren1er Balfour's academic EXPOSE |
tlon or his personal views of the fiscal |
problem, contained in the pamphlet on |
) 1nsuiar Free Trade came the long |
promised and much demanded govern
ment statistics dealings with that sub
Ject. They were issued today by the
Board of Trade in the shape of a blue
book showing the various aspects of
6rltlsh and foreign trade and the in
dustrial conditions. No deductions
were drawn, though the publication
teens with interesting notes upon
what are regarded as points of fact
The references to foreign trade were
chiefly confined to France, Germany
and the United States.
A valuable explanation is given of
the much-quoted excess of imports
over exports, which has so often been
held to be sign of British trade de-
cline. The blue book says that while
the excess yearly averages about $780,
100000. the income received from for
eign investments, calculated at $312.-
100000, added to the earnings of the
British merchant fleet engaged in for
eign trade, calculated at $3.50, ZOO, 900,
lis probably more than sufficient to
account for the average excess of i'm
ports"
Such estimates have never before
been included, hence the misleading
character of the usual figures.
Americans have made large invest
ments in the United Kingdom of recent
years, and American repurchases of
railroad and other securities are adj
mitted to have to some extent affect
ed the fiscal figures, but they are not
likely to form a serious factor"
Dealing exhaustively with the tariffs
Of all nations the blue book says the
American system of drawbacks nee
esSarily results in Inequality of treat
ment and may yield an export bounty
to the best equipped manufacturers
while others sustain loss"
Import Duties.
In a table showing the ad valorem,
equivalent to import duties, levied by
foreign countries on the principal
articles of British exports, Russia
comes first, with 1871 per cent; the
United States next, with 73 per cent,
and Austria follows, with 35 per cent
Though Germany comes sixth, it is
pointed out that her existing tariff is
SO effective as to be more highly pro-
tective against Great Britain than the
percentage shows.
Before the trade of the United King
dom and any of the colonies could be
reserved to British vessels the Board of
Trade states that the existing treaties
with Austria, Greece and other coun-
tries would have to be denounced.
The tables show that the United
Kingdom is most dependent on i'm
ported wheat. the United States be-
ing wholly Independent.
The question of wages and the cost
of living, especially the price of food,
which has figured so largely in the
recent Chamberlain agitation, is sum-
med up as follows:
1.-THE average level of wages in the
United States Is one and one-twelfth
times greater than in the United
Kingdom, while in Germany wages are
only two thirds, and in France three
fourths Of the average prevailing in
the -Unied Kingdom"
The percentage of family incomes,
taking New York, in the United States,
is estimated Con the basis of 100 per
cent for the United Kingdom) for the
United States, 1913 per cent; for France.
83 per cent, and for Germany, SO per
cent. The mean weekly rate of wages
in skilled trades in the United States
IS estimated 179 per cent, and In the
United Kingdom at 100 per cent.
Members of Alfred Moseley's former
commission supply a series of con-
f1icting answers to question anent the
feeding and payment of American
belief that, allowing for the conditions,
there is little difference in the United
States from the United Kingdom.
Iron, Steel and Trusts.
Dealing with the iron and steel
trade, the board reports that employ
ment has fallen off in the United King
dom since the Introduction 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.
The report also says:
'"The available evidence 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 pc
Rod of exceptionally good trade in the
American home market the induce
ment on the part of the American
trusts to dump their surplus goods at
low prices on foreign markets has
been slight as compared with what
might be manifested at time of in
dustrial depression in the United
States"
Dealing with the proportion Of
American goods which has been
thrown on the foreign markets, the re-
port says:
This export trade could hardly have
been carried unless the foreigners were
granted lower prices than prevailed in
the United States"
Has Chamberlain Modified Proposals?
The Pail Mall Gazette says it I'M
derstands the cabinet has concluded
the consideration of It's fiscal position
and its policy in regard thereto; that
no further cabinet meetings will be
held for the present, and that in the
meanwhile Colonial Secretary Cham
berlain will proceed with his expository
programme. The paper adds:
at will probably be found that he
has modified his proposals so as to
bring them in harmony with Mr.. Bal
four's views as set forth in the pamph-
| let. The main feature of Mr.. Cham
berlain'S notifications will be the dis
appearance of all suggestions in the
direction of the further taxation of
food stuffs and raw materials"
The Gazette believes it is still pos
sible that there will be more than one
resignation from the cabinet.
Socialistic Exhibitions.
DRESDEN, Sept. 16.-The Socialist
| congress, after two days discussion of
| the literary activities of members of
] the party, decided today to close the
debate, and the personal explanations
of various writer's began. Herr Goehre,
former Pastor Bernhard and Heinrich
Braun endeayored to defend themselves