The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1913-11-28
TRADE BELOW
THE ESTIMATES
Philippine Business Falls Off =
Exports on Decrease and
Imports Falling.

NEW YORK, November 13.-In
comprehensive report on the foreign
trade of the Philippines by John r.
Arnold of the executive bureau at Ma.
Mia to the department of commerce,
the value of the exports and imports
of the islands for the fiscal year ended
June 30 last is stated to be $l10000,-
600, against an expected total of $780,
100000, based on the trade of the first
two or three months of the year
The falling off from the estimated
value of foreign business is accounted
for, among other causes, by the marked
contraction in the receipts of rice,
which amounted to but $4,000
against $l0,500000 for the preceding
year, drop of nearly twenty-five per
cent. This was blessing in disguise,
as Mr.. Arnold here explains.
"This decrease in the importation of
the principal cereal food of the coun-
try he says, "means. of course, an
immense saving to the population at
large, and is directly traceable to par
ticularly abundant Philippine crop at
the last harvest-occurring about the
middle of the year-and marking the
end of the disastrous shortage which
followed on the severe drought of 1911,
IL. This part of the decrease in esti-
mated imports in itself is therefore not
in any sense an unwelcome phenome-
non.
SIN exports the falling off from the
estimates was due to drop in price
of abaca (manila hemp) toward the
end of the year, to the poor quality
and resulting low price of the sugar
crop, and to diminution of the copra
output as the accumulated result of
typhoons and drought in 1911 and 1912.
Both imports and exports have also
been affected by the widespread local
business stagnation of the last few
months, arising from the fear of politi-
cal changes which would react unfavor-
ably on the economic condition of the
islands,
The United States extended, the last
fiscal year, its already secure grip on
the bulk of the Philippines trade, Mr..
Arnold observes. 1t is first both as pur.
veyor and customer.
"In 1884, continues Mr.. Arnold,
the United States took exports val.
ued at $9,970,0O0, or 37.2 of the total,
as against $21 $4,000 in 1912, and sup.
piled imports worth $25,646,S75, or 45.5
per cent of the total as against $780,
79l,433 in 1912 Exports to and i'm
ports from the United States for 1913
amounted to $45,617,5l7, or 415 per
cent of the total trade of the Islands.
This last percentage is much greater
than that for any year prior to 1910,
and also greater than that for that
year (3s.5 per cent? or for 1912 (40.4
per cent?, but smaller than that for
1911 (43.1 per cent?. The percentage
of total imports supplied by the Unit.
ed States is the highest yet recorded,
the percentages for the three wears pre-.
eeding being POI, 1913, and 3s.l, res.
pectively, while for no year prior to
1910 did it reach 90 per cent. In
fact, the increase in imports from the
United States during 1913 $4,S55,442)
was greater than the total increase in
imports from all countries ($1,777,5 33).
Besides the commodities already men
toned, such as cotton goods, -four, iron
and steel products and leather goods,
the principal classes of merchandise
which contributed to this great in
crease in import values from the Unit
ed States were automobiles, fish and fish
products, and silk goods.
In exports to the United States
during the year under consideration
there was an absolute decrease of 76
per cent, and the percentage which
these bear to the total exports, as given
above, was less than for any year since
1909 and even for one or two years pre-
vious thereto
Mr.. Arnold gives some interesting
figures regarding the tobacco and other
exports from the Philippines to the
United States. They are quoted here:
"The exports of all classes of tobac-
co products he says, "showed salts
factory gains in 1913. Shipments of
cigars increased in number from 49,
100000 to POI, 1885, 900, or IS per cent
| and in value from $2,660,000 to 49,
| 356,000, or 26 per cent. The average
| price received was $l6.lS per thousand
the highest yet recorded; for the three
preceding years the average prices
were $l5,l7, $l2.s6, and $l5.17, respec-
/ lively; while for the period from
! 1899 to 1909 the highest average for
| any year was only $7.71. The figures
for 1913 are particularly satisfactory
as they show complete recovery from
the slump of 1911 which followed the
excessive expansion induced by the
passage of the tariff act of 1909. In
| 1910 shipments rose suddenly from
| 1l6,000,000 to l96,000,000, only to fall
to l32,000,000 in 1911. In 1912 the
record of 1911 was nearly approached,
| but durn~ the year just closed it was