New-York tribune., 1910-01-31
LONDON'S US. S.TRADE
Eloquent Figures-The Re-
Uised Tariff Considered.
London. January Is.

London. January 13
While warning politicians have been
exchanging surmises and contradictions
respecting American prosperity, the
facts have been close at hand in a duiet
Office of Bishopssate. Consul General
Griffiths keeps his door open. and IS ac-
cessible 10 all inquirers. and the books
and commercial exhibits which he cour-
teously places at any patient investiga-
tors disposal disclose the operation Of
the revised American tariff the revival
of trade and the trend Of commercial
relations and fiscal policy. London ia
the largest British centre of trade with
the United States. the consulate having
four times as much business as the Of
fee at Liverpool IT ia refreshing 10 get
out of the turmoil and uprosr Of British
politics and to have a quiet hour in Mr.
Grifilths's Office in studying records OF
international exchanges and mercantiIs
expansion. which cannot be either con-
tradicted or misinterpreted. The annual
exhibit Of exports from the London dis
trict is an amazing record Of the yolun.
and variety of American importatfons
after the restoration of prosperity and
the revision of the tariff. More than
one controversial question can be settled
by the eloquent figures.
For example. President Taft was re-
preached by political critics for declining
TO veto the tariff bill when 10 did no.
meet his expectations in reduction Of
the woollen schedule and in other mat
ters,. II was urged by opponents. some
of them prominent Western RepubF-
cans. that there would be shrinkaSs
of imports under the tariff and con-
sequent reduction of revenues when
there was urgent need of increased SIP
plies for the navy and the Panama
Canal These objections are removed
by the practical evidence of the con-
sui generals annual exhibit that there
has been n great expansion OF British
export trade with America, both in du-
table goods and in merchandise on the
free list.
The aggregate of the exports from
London to New York and other Ameri-
can ports in 1909 was S1N5. 5.61I.5s0. This g
was an increase of So. sI2.391 over the
PREVIOUS year. The records of 1906 and
1907. each an abnorInally good year.
have been largely exceeded These stu
proof that the revised tariff has neither
interrupted international exchanges nor
reduced current revenues The Presi-
dent would evidently have been III sd-
vised IL he had vetoed the bill and pro-
Ionsed the period of tariff agitation and
business uncertainty.
The principal object Of tarih revision
by friends. not enemies. Of protection
was the reduction of rates without weak
ening of the industries themselves At
least one-half of the exports from Lon
don to America during the last year
were either raw material or partly
manufactured materials. Abolition or
reduction of duty when prudently or
dered tended 10 promote manufacturing
interests in America The home indus
tries were neither sacrificed nor i'm
paired. The effect of sharp cuts in the
metal schedules is disclosed in the an
nual exhibit. Iron and steel With their
manufactures have run up from S2n'-2s2
to 81, ,O25, ,459: and other metals. apart
from copper and tin. have increased
from S560.O21 TO S1.5S6.016. The exports
Of copper have risen from S2.S1t.9II to
So 1855 The only prominent excep-
ton to the rule of increased export OF
manufacturers material is tin. which
has fallen from S1S.314, S3S in 1903 10
SIS $50 46I in 1909. apparently in con-
sequence OF an overstocked market.
There was an average reduction of 40 TO
so per cent in the metal schedule: Yet
it has operated benefcially so as 10
induce moderate importations of manu-
featured goods. which have not damaged
the home industries
The effect of the removal OF tine duties
on hides is seen in an enormous Increase
of the export of skins and furs from
So 0S6, so to 12.16J.4I1. While this
supply of free raw material has facih-
tated the growth of American manu-
facture reductions in duties on leather
and boots and shoes have not exposed
the American trade TO destructive COM
or % per cent in shoes. another one in
leather equally big and a larger one in
harness. The export of leather has in
creased from S39T,O to S555oSI-a
meagre gain-and Northampton and Lei
cester shoemakers have not attempted
an invasion of the American market
There has been an abnormal expansion
of S4,I94, 430 in shipments of rubber, and
this has been accompanied by a decline
in the export of manufactured goods.
There has been a gain of 81. 300 80 IN
the consignments OF wool TO America
high prices accounting for a portion OF
the increase; and there is no evidences
that American manufacturers are Sc
riously injured by excessive competition.
for the exports of woollens and worsteds
from London have advanced only from
$14SJ616 TO S1,SS4256. The woollen
schedule was unchanged. although the
President favored extensive modifica-
tions and the general effect has been
the enlargement of the productive re-
sources of the home industry Moderats
reductions in chemicals. oils, paints.
earthen and glass ware and other articles
are followed by equally moderate in
creases in the exports from London
The most phenomenal increases 70.
corded in this annual exhibit illustrate
in a striking way the revival os Anefi.
can prosperity. The export OF diamonds