Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-05-12
BALANCE OF TRADE SHOWS GAINS
IN FAVOR OF FOREIGN
MANUFACTURER.
COST OF LIVING FAILS
TO COME DOWN WITH TARIFF
Oehe't III Revenues Feared Because In
como Tax Will Not Mako Up DN.
terence in Tarin Reduotlons-Strik-
ing Increase in lmportations Without
Lowering Cost to consumsr.

washington. May 12-AuthoritatIys
figures on the first six months' opera.
lions OF the Underwood Simmons tar
III law show that there has been an in
crease OF imports, decrease OF ex-
ports, falling Off Of revenues from
tarlf charges. and a slowing down Of
manufacturing business.
The imports increased 81 per cont
over the same period last year. while
the exports decreased 81 per cent. Not
Wlthstandlng the increase In imports.
practically all in foodstufs, the cost OF
living has not gone down. On fresh
meats, for example. the price has soar
ed 80 per cent since the duty was taken
off,
Coincident with the operation OF the
tarir law Is deficit In the treasury Of
S37,097,955, as against u surplus Of ST.
39o.7O6 last year. This deficit Is at
tributed to the fact that the returns
from the income tax have not begun to
come IN yet. The treasury department
expects them to more than make II up.
Tax Receipts May Be Less.
From relia BILE sources 1t Is learned.
however. that Notwithstanding this
spoken optimism. there are grave fears
that the revenue from the income tax
law will not be sufficient to make up
the deficit from reduced tariff charges.
Imports of manufacturers have ma
terially increased. the quantity OF man.
ufacturers' materials drawn from
abroad has been greatly reduced. and
exports OF American manufactures
have fallen off.
Tho value Of finished manufactures
imported in the six month"; operation
Of the law. Oct. to April /, is &22S.-
900. 900. against ,215,o0o. 900 in the same
period Of last year the value Of manu- :
fac.urers' material Imported II $780,
600, 900. against 3517.O00.000 In the cor
responding months OF last year: the
value Of manufacturers exported is
$4,000, 900, against $5S2,000.000 In the
like period Of last year. and the re-
ceipts from customs are only $4,000
900, against $165,0O0.O00 in the same
months Of last year.
The closing month OF the period
showed larger total imported than any
other. slS3.O0o,00O. against Sl33.O00.O0o
in the first month. On the other hand,
the exports OF domestic products have
steadily fallen. the figure for October,
1918, having been $269.0O0.O0O and In
March, 1914, only 1884 100000
Striking Increase in Imports.
In those articles OF manufacture in
which the duty was reduced. there has
been q striking increase in importation
and in most cases q corresponding de-
crease in expectation. due apparently
to the slowing down In production oy
American manufacturers.
In tinplate for example. on which the
duty was decreased about one third the
imports Of the six months until the
new tariff were over 100000 pounds,
against less than 100000 In the same
months OF last year, an increase or L.
600 per cent, while the exports tell
from 74,O00.0 90 in the six months or last
wear to 100000 pounds In the SIX
months under the new law.
The records Of the six months show
an i'm portation Of s3O00,00O pounds or
fresh beef in that period, or about two
ounces per month for each individnal
IN the United states. but the onlclai
records Of the department of commerce
show that the price MT whlch 'te 'hea'
vas imported was over 30 per cent
hiobcr in March under the new law
th.u in September. the last month OF
th. old law while in many othcr ol tne
orr,c,es on which duties were reduced
the prices abroad were pro'hp'N "u'