, 1907-10-07
OFFICIAL STATISTICS SHOW BAL
ANcE OF TRADE IN FAVOR
OF THIS COUNTRY
NEVERTHELESS.
Interview Accorded the
Associated Press by Chief Austin
of the Bureau Of Statistics, Who
Gives Some Of the Results Of In
crease in Price and Larger Demand
for Manufactured Articles Here.

Washington, d. c., Oct. Attention
has been attracted recently to the in
creased value of the imports into the
United States from foreign countries
and to the narrowing margin of the
value Of imports and exports. That
margin, as shown by the official sta
%tistics, is, however, yet on the credit
side of Americas ledger and, in the
opinion of the government experts, is
likely there to remain.
The Balance of Trade.
For the month Of August, for in
stance, the excess of exports over i'm
ports aggregated in value $1,464,404;
and the excess of exports over i'm
ports for the eight months ended Au-
gust 81 was $194,453,162.
Increased Prices Of Commodities.
1t is important to note, in this % n
nection, that the increase in imports
into America is due, in considerable
measure. to the increased prices which
imported commodities command in the
markets Of the world.
Factors Responsible.
Just how much of a figure the in
crease in foreign prices cuts in the
great international transaction it is
impossible now to determine, but the
figures are al hand which indicate that
not merely the quantity of the imports,
h,< tho value 30 thar, tn tho oorntrioc
of origin are responsible for the large
imports Of the past year Of two.
Increase Of Value Of Imports.
1t is evident, too, from statistics pre-
pared by the government that the nar
rowing Of margin between imports and
exports is due not to a decrease in the
exports, but rather to an increase in
the value Of the imports. On this
point o. P. Austin, chief of the bureau
of statistics, stated to the Associated
Press:
A ustin,s Statement.
The exports for the eight months
ending with August are larger than
those Of the corresponding months in
any preceding year, and those of Au-
gust alone are larger than in any pre-
ceding August except that of 1906. So
the reduction in the excess of exports
over imports is due chiefly to the phe-
nomenal growth of imports which has
characterized the past few years. The
value of imports in August, 1907, was
owe $40, 00O, 900 in excess of August,
1906, and actually double that of Au-
gust, 1900; while for the eight months
ending with August, the value of the
imports was $156, 900 900 more than in
the same month Of last year, and more
than double that of the same months
of 1898"
Increase In Demand.
How do you account for this large
Increase in Imports" he was asked.
Increased demand for foreign ma
terial for use in manufacturing, in
creased purchases of foreign manufact-
ures and luxuries and in many cases
an advance in prices abroad which
makes a given amount Of foreign mer-
chandise cost more in 1907 than the
same quantity cost in earlier years.
Crude Material Increases.
Crude material for use in manu-
featuring shows an increase of $42,-
OOO,0 in the eight months ending
with August when compared with the
same months of last year; manufact-
ures for further use in manufacturing
an increase Of $50, 900, 900; finished
manufactures, an increase of Sal, 000,-
900, and foodstuffs, an increase of
s39, O00, 900.
Some Manufactures Noted.
Raw cotton imports alone show an
increase of $11, 1000, 900 in the eight
months ending with August, 1907, over
those Of the same months in 1906; raw
silk, 81, OOO, 900; india rubber, s6,OOO,'
200; chemicals, about IS, 900 900; abers,
about $4,000, 900. and wool, pig iron
n lumber, about $4,000. 900 each.
Copper In the List.
Copper imports show an increase Of
about SIS, 900, 900 over last year, this
rapid growth in the imports OF copper
INTO the greatest copper-producine
country In the world being due to the
superior facilities for smelling and re
lining which this country possesses.
Used In Manufactures.
All these articles which I have
mentioned as showing a large increase
IN Importation are for use in manu-
featuring. Then there is also a marked
dvanc in the importation Of food
Stuhs his year, sugar showing an in
crease Of $12. O00. 900; coffee, 10000,
ooO. and cocoa, 5000, 900.
Cotton Goods Included.
In finished manufactures there Il
also a large increase in importations
cotton laces, edgings and embroiderie
showing ar increase Of about 5000,