The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-06-17
OONMERcB OF FHE YEAR

NAaAlAotOA, a0no MI nlah marx
In ioraign commerce was made In loo1
fiscal year. when expoTts and imports
wero valued Al Ss.SlS.77s.SoS. with not
more than q fair volume ~ business Tor
the present month the trade Of ths fiscal
year 1910 win show a value equallina that
Of 1897. Tho prcsent Indications arr that
import values for the year via be approx
imafeiy q so. 0D. 0O0. a record mark. and
exports ahoui ., -. COO .000. On that basis
the trade balance will no not FAR from
500. COCOON. the smallest since 1874. The
record balance 10 toaa. asi.5si. In 1874
The avemGe yearly balance for the last
ten years is ttDo. COCOON.
In search Of campaign material cam
paign orators will doubtless study the ro-
turns for tho full year with great care.
The record win provide more ammuni-
ton for The defenders Of the new tariff
than for iis opponents and critics Never
before has 20 large a quantity Of food
products been retained Tor domestic con-
sumption. and imports 81 foodsluHs are
a. high water marx. In spite of high
prices these commodities have been con-
sulned. and The TACT Of consumption may
BE- regarded a. fair evidanco that total
purchasing power has never boan greater
than In the last year Thors has been
bitter complaint Of the pressure Of prices
on incoIns. but there has evidently been
increase rather than decrease In quantity
purchased. and that can only mean that
there has been mOaey with which 10 pHf-
chase. In theory at least II incomes a.
whole had not Eept fair pace with adj
vancing commodity prices there would
have BEEN cnrtallmsnt Of purchases and
shrinknge IN savines As matter az fact
thore has been neither. There has been
and there 10 much individual complaint
Of dilhculty In adjusting INCOME and en-
ponditure. bat when the facts are conaid-
cred In their entirety Il Ia only possible
70 infer that seldom II ever have the peo-
PIE Of the country been in better economic
state -
The large importations Of manu-
facturers materials. both raw and partly
manufactured. are evidence Of an un-
precedsntsd industrial activity. Such
comuiodities a. raw cotton. hides. leather.
rubber, tan. wool and chemicals. drugs
and dyes are not imported In vast quant-
tiea and stored In warehouses 10 lie un-
ussd. They are converted into finiahed
products and marketed. The conversion
prOoesaas give employment aud wages.
and the pFOcoesas 81 distribution involve
transportation and payrolls. Exports of
manufactured products a. a who'll arr
vel above the average Of recsnt years and
much above the exports Of even i've years
ago. Had domestic demand Cor food.
stias bssn lsas than Il has bsen total
exports a. well a. totRl imports would
have made 1910 ths record year.
The report o. exports Of brsadssuigs.
meat and dairy products and cattle.
hogs and sheep for tho elapsed eleven
months 81 the fiscal year has recently
been issued. Ths shipments II hrrad-
stuhs for the eleven months period of
the four preceding years us0s-la1e inclu-
sive) averaged Sias. 00o. OoQ. while shin
ments for the elsveu months Of 1910 were
valued AZ tiITW0.O00 A like comparison
of shipments II meat and dairy products
shows a decline from an average Of stss.
0oo.O0 % ,iOl con. 40. and comparison Of
shipments o. animals shows a drop from
scs.ooo,O1O 20 sii.os0.O0o The shiDment
Of live aniniala Ia nos almost AZ a stand /
still For the hscal years 1907. 1904 and
i0oa the monthly shipments II live animals /.
averaged q. 100000 The average for the /
elsvsn months cf the pres,nt year Ia
n.0oo.ooo. while the April sales werr only 7.
tiss.S7I and the sales for May only ga. Osg !
This ssems 20 answer effectively the asssr- I
ton that beei prices are high in this
country because bsef and oattls arc /
shipped abroad and sold AZ lower prices ,
than in the United statN.
The notably hRsing industry IN our
export business n manufacturer cotton I
goods. Word has recently come n the !
suspension of work In american cotton
mills beCauss Of Overstocked warehouses.
and yerin a world import demand prob. |
ably nov exceeding $3.50. OOO,OOO a yeas
the manufacturers AZ this country appear /
with sales Of about s30.O00OOO. This Il /
not because W cannot sell In competition
with those 20 whom We sell our raw cotton,
but because those who make and sell cotton
cloth do not want foreign business enough |
90 90 after il IN business way. They
are content with their ample dividends
from a domestic market IN which hey /
are very literally protsctsd by a high |
tariff
Tho iRauence Of the hsw tariff in tho trade |
of the year Ia exceedingly difiCult Il not
quits impossible Of dissemination. Only
an unimportant percentage Of the increase /
IN imports can he clearly traced 10 tariff |
reduction, and only in Isolated itsma can /
tariff increases be charged with a Hmita-
ton of imports.