The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1915-02-20
TARIFF HITS
PORTO RICO

outstanding feature or tne report is
the | / effect upon the revenues and
the prosperity of the island caused
by the reduction of the sugar tariff
The very first sentence of the Cover
nor's report announces that the per
Tod which 1t covers has been one of
financial difficulty and economic re
adjustment. d" On this subject he
continues:
Amongst the general causes for
business disturbance, those that af-
fected Porto Ri.o most were the new
tariff law of the United States and
the general recession in business &C
tivity which seemed to be felt all
over the civilized world.
But far more important to the ex-
ternal commerce and general econo
mic condition of the island were the
changes that have taken place in the
sugar industry, which holds by far
the most commanding position In
the industrial life of Porto Rico. The
serious decline in this industry,
which showed itself in the figures
and tables of last years report, has
continued in still more marked de-
gree this year. While this decline
was not wholly due to changes, pres
ent and prospective, in the rates of
duty, 1t nevertheless reflected itself
very seriously in the figures of ex-
ternal commerce and general condi
tions of trade for this immediate
year.
In external commerce there has
been a decrease in the total value Of
exports of $6,OOO,S03 from the figures
of last year, which is almost exactly
accounted for by the decrease in ex-
ports of sugar, this having amounted
to $6,37S,S23. This decrease In val
ne of sugar exports was produced by
sharp decline both In quantity,
which was about $4,000 tons less than
last year and in price which was
So. 40 per ton less than the year pre-
vious. outside of sugar there was
a slight increase of about $37S,OO0 In
the value of exports. Exports to
the decline in sugar, falling of So
115,443. The total exports were
s43, 102,762.
Internal business, while slowly ad'
justing Itself to the changes made
necessary in the sugar industry, has
naturally assumed a conservative and
waiting attitude which has prevented
the Inauguration Of new enterprises.
The dread of the possible results OF
the free sugar provision that is i'm
pending under the present tarif law
has tended to check progress and de-
yelopments In other lines OF business
interviewer with this industry; but
the situation has demonstrated the
general soundness OF the actual busl
mes Of the island, for while progress
has been checked, only few over
extended and badly managed enter
prises have actually come to grief.
The Treasurer's report, which Is
published as an appendix to that OF
the Governor, shows In some detail
the causes of the financial crisis
confronting the insular government
to which Governor Wager refers. The
Treasurer points out that "due to the
generally unsettled business eondi
lions of the island, attributable In
large degree to the present reduc
ton and prospective removal OF the
tariff on sugar, It soon became ap
parent that the increase In revenues
was going to be far short OF the In
creased provisions for expenditures,
The report shows that following the
reduction In duties by the Underwood
tariff law the customs revenues OF
the island, which had been averag
ing 100000 to $4,000 month during
the previous two years fell to $4,000
n month during the first half OF 1914
| Inc lalluTe VI INC iS'ShuSh W 49,
the expenditures Of the insuiar gov
eminent, necessitated a bond issue
OF 100000. The continuation Of
existing conditions will make 1t ne
cessary to curtail heavily the ex
penditures for education and intern
al improvements in the island.
The important part played by the
sugar industry in the material wei
fare of Porto Rico is shown by the
figures of exports. Out OF tota
valuation of exports amounting tc
s4S, 100000 during the fiscal yea
ending June 80, 1914, sugar alone
constituted over $2O,O0O,OOO. This
was the lowest sum realized for sue
ar exports in FIVE years. Under nor
nal conditions sugar constitutes two
thirds the total value of all exports
A significant sidelight upon condi