The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-11
WTARIFF HITS
U.S.TRADE HARD.
Exports Decline and Fac
tories Slow Down. but
Imports jump.
TREASURY DEFICIT BIG
Increase Of Imports Of Fin
ished Manufactures
Is Progressive.
FOUDSTUFFS COST MORE
Foreigners Raise Their Prices
and Americans Go Deeper
Into Their Own Pockets.
FOUDSTUFFS COST MORE

--
WASHINGTON, May l0.--S!x months
Sxperiment with President Wilson's
recipe for sharpening the wits OF
American manufacturers by opening
our doors to the manufacturers Of other
eArts of the world has given four very
definite results.
First. an Increase In importations OF
manufactures.
Second. . slowing down Of our own
factories.
Third, q falling Oh 81 the exports Of
manufactures.
Fourth, q falling OF In revenues.
The official record for the first half
year OF the tariff laws operation is
now available, the Department Of Com
,,,erce's statement OF imports and ex-
ports for the month Of March complete
Ing the following figures for the six
months.
Imports Of manufactures have ma
terially increased. the quantity OF manu-
6acturers' material drawn from abroad
has been greatly reduced. exports Of the
products Of American manufactures
nave fallen OF and the receipts from
customs are far below the normal.
The value OF finished manufactures
imported In the six months operation
VI the law, October to April l. Is $22s.-
o00, 900, against $215.000,0O0 in the same
period of last year; the value Of manu-
lecturers material imported is s46e,-
100000, against s5l7.Oo0,000 in the cor
responding months OF last year: the
value Of manufactures exported Is s5ll.-
900, 900, against s5s2.O0O.o00 in the like
veriod Of last year. and the receipts
Nfrom customs are but N4o,ooO,0Oo.
against sls5.oooooo in the same months
Of last year.
MOunstna DeHct.
Meantime the deficit In the Treasury
accounts continues TO mount. yester-
days official statement showing the
S'excess OF ordinary disbursements" for
tho fiscal year s37.o97,955. against an
excess of revenue receipts Of s7,3s5.706
for the same period Of the last year.
when the much berated Payne tariff
was in operation. or. to put II in or
binary terms. deficit of 100000
this fiscal year against a surplus Of
$685.. o00 az thl time last year. OF
course the Administration il depending
on the income tax to pull it out OF the
hole.
In every month OF the period In which
the new law has been ndustriously
Sharpening the wits Of American
manufacturer by bringing in foreign
manufactures at reduced rates OF duty
the customs receipts have fallen below
those Of the corresponding period OF
last year.
In five of he slX months the I'M
ports of finished manufactures have
EXCEEDED those OF the same months OF
the preceding year. and in four of the
six months the imports of manufac-
turers' materials and the exports Of
manufactures have fallen short OF the
record Of the corresponding months of
last year.
True. the first month Of the new law
did show on its face "A lower valuation
Of manufactures imported than in the
same month of the preceding year, but
this was due to the fact that much
of this class OF merchandise had been
imported and placed in warehouse in
the preceding month, thus appearing
In the import records OF September
while the goods In fact entered in Octo.
her under the new law. In every Other
finished manufactures Is greater thar
IN the same months OF last year
4 Progressive Increase.
This increase in the imports OF finished
manufactures has been progressive. Th'
closing month of the period showed alst
larger total imports than any other. $3.50.
100000. against sl33.000.000 In It's frs
month. on the other hand the export!
OF domestic products have steadily fallen
the figures for October 1913. having beer
1859. 900 and in March. 1914. onl!
sls+,010, 900 This seems to llustrat
the fallacy of the Democratic theory tina
III you don't buy you cant sell"
The imports in the six months increased
more tnan 81 per cent, while tho export
decreased more than 81 per cent, In tn
same period.
II is In the persistent fall In the I'm
portation OF manufacturers materials
however, that there is the gravest con
Germ, No part Of the machinery OF tn
Government gives such excellent Oppor