The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-08-24
BUYING MORE, SELLING LESS.

BO IlNG NUKE SE1DLANU AfE<oC.
Whatever else may be said about
the course Of general trade. whether
| it is gaining as much as expected by
| this time, or whether it is improving
at all, it remains true that the record
of our exports and imports show an
emphatic continuation of recession
which began early in the present
calendar year and which has had such
strikingly unfavorable effect on
treasury receipts
This is made apparent by prelimi-
nary returns of shipments abroad and
purchases in foreign trade, not only
for the month of July, but for the
seven months period ended with July
81. This Is explained in smaller ex-
ports of cereals and cotton, as well as
of manufactured articles, and by the
continued conservatism INDUCED in by
importers in almost all lines. 1t is
these factors that must be considered,
Notwithstanding the occasional fiutter-
ing of information to the effect that
international trade in this, that, or the
other direction, has taken on a more
favorable turn. The latter aberra-
tions, in some instances, are of tenn
porary vitality only, and, in any event,
whatever may be the situation in sew
eral of the lines of domestic inter-
change of merchandise and produce.
particularly in those in which gains in
demand have been reported. the deal
ing of this country with abroad have
not begun to take. on anything like the
proportions they had assumed when
the cyclones of March and October in
1907 broke over the scene.
AS a consequence the total Of this
country's free of duty importations
from January l to July 81 last was
only $265,555,00O in contrast with
1894, 900 for the like period in the
preceding year, and of dutiable i'm
portations, $343,302,000 as compared
with s4s1,7S0,O00 the year before, de-
clines, respectively to thirty-eight and
forty per cent. The export m ovement,
was not nearly so much depressed,
for the seven months period, because
of the carry over of this country's
excessive foreign shipments in the
earlier months of the year following
stimulated exports of November and
December, at a time when domestic
holders of cereals and cotton threw
stocks on foreign markets with ex-
ceptionGi freedom, thus helping the
sudden influx of gold which charac-
terized the collapse of trade here.
Total exports for seven months this
year amounted to $966,280,000 in
comparison with $1,0e1,431,O 900 in the
like period of a year before, a decline
of only a little more than eight per
cent, but when the corresponding
changes for July are examined it is
seen that had the latter record been
that of the whole year thus far the
| seven months exhibit would have
been much worse than 1T is. For July,
exports amounted to $101,254,000 in
value. falling off of twenty per cent,
while importations of both varieties
aggregated sS6,406,000 in value, thirty
per cent less than in July, 1907, there
by showing a slight improvement in
| comparison with the decline for seven
| months, and indicating that a mod
crate gain in purchase abroad had
begun, even If it has not continued to
show itself. The only source of
| especial congratulation, therefore, is
in the fact that the excess of exports
over imports for the seven months
period. due to economies in buying
abroad, are much larger this
year, on August 1, than they were a
year ago. $327,140.000 in contrast with
$193.09S.000, a situation which, one
may incidentally admit, presents two
view points for contemplation.