Weekly journal-miner. [volume] (Prescott, Ariz.) 1908-1929, 1914-06-03
FOUR RESULTS FROM
FREE TRADE POLICY
(BY Winfield Ionesl

cratic tariff as follows:
Six months experiment with
President Wilson's recipe for
sharpening the wits Of American
manufacturers" by opening our
doors to the manufacturers of 9th
err parts OF the world has given four
very definite results:
First An increase in importa
tons of manufactures.
Second. A slowing down of our
own factories.
Third. A falling off of the ex-
ports of manufacturers.
Fourth A falling off in revenues.
The official record for the first
half year OF the tariff laws opera
ton is now available, the Depart
ment of Commences statement OF
imports and exports for the month
of March completing the follow
ing figures for the six months.
Imports of manufacturers have
materially increased. the quantity
Of manufacturers materials drawn
from abroad has been greatly re-
duced. exports of the products OF
American manufacturers have fallen
off and the receipts from customs
are far below the normal
The value OF finished manufactur-
es imported in the six months OPP
Grafton OF the law. October ! to
April /. is S22S,0O0,O0O, against
S215,OO0,OOO in the same period of
last year; the value o. manufactur-
ers' material imported is $4,000
600, against $517OO0,OOO in the cor
responding months of last year; the
value of manufactures exported is
S541. 100000 against S5S2,0O0,OO0 in
the like period of last year. and the
receipts from customs are but Sl4O-
100000. against S165,OOOOO0 in the
same months OF last year.
Meantime the deficit in the treas
ury accounts continue to mount
Yesterdays official statement show
ing the excess of ordinary dis
bursements" for the fiscal year $37-
0o7.955. against an excess of reve-
nue. receipts of %,395,700 for the
same period of last year, when the
much berated Payne tariff was in
operation, or. to put it in ordinary
terms. a deficit of $37,00OO00 this
fiscal year against a surplus OF 81
$4,000 at this time last year.
In every month of the period in
which the new law has been indus
triously sharpening the wits OF
American manufacturer" by bring
ing in foreign manufactures at re-
duced rates of duty the customs
receipts have fallen below those OF
the corresponding period OF last
year.
In 1--WE of the six months the inn
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
manufacturers material and the ex-
ports of manufactures have fallen
short OF the record OF the cores
ponding 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 pre-
ceding year. but this was due to
the fact that much OF this class OF
merchandise had been imported and
placed in warehouses in the preced-
ing month. thus appearing in the
import records OF September. while
the goods in fact entered in Octob-
er under the new law. In every
other month OF the period the inn
ports of finished manufactures IS
greater than in the same months OF
last year.
This increase in the imports or
finished manufactures has been pro
gressive. The closing month OF the
period showed also larger total inn
ports than any other. SlS3.OOOOOO,
against S133,OOO,GOO in its first
month. On the other hand the ex-
ports OF domestic products have
steadily fallen, the figures for Oct
obcr. 1918. having been S269OOO,OOO
and in March. 1914. only SlS4,OOO.-
0OO. This seems to illustrate the
fallacy Of the Democratic theory
that If you don't buy you can't
sell"
The imports in the six months
increased more than 81 per cent
while the exports decreased more
than 81 per cent. in the same peri
cd.
1t is in the persistent fall in the
importation OF manufacturers ma
terials. however. that there is the
gravest concern. No part Of the
machinery of the government gives
such excellent opportunity to mea-
sure the activities or the manu-
facturers Of the country as does the
record of the imports OF their re-
ouirements for manufacturing and
of the manufactures which come IN
competition with them.
III chat tho fall