The Washington times., 1915-08-02
MEANING OF THE IMPORTS

we nave CalleQ atCenC1On 10 tnc
extraordinary rise of imports in re-
cent months, until last month, with
$157, ,746,1 ,14O, made the heaviest June
showing in the history of the coun-
try, being more than 100000 heav-
ier than June a year ago, when the
country was staggering under the
volume of imports flooding into this
country through the open gates Of
Mr.. Wilson's tariff. We called at
tention to the fact that, though the
first June under Mr.. Wilson's tariff,
in 1914, gave imports Of some
$27 100000 larger than in the pre-
vious June under the old tariff and
some $57, 100000 more than in the
great boom year of 1906, the i'm
ports of last month went more than
100000 higher than the June i'm
ports of last year, until now un-
precedented.
But there are other very signifi-
cant facts about the way our i'm
ports have been growing for several
months. In spite of the fact that for
weeks and even months after the
war broke out overseas shipping was
largely out of business,and interna-
tional commerce was, partly para
lyzed, the imports forithe whole fis-
cal year ending June 80 were only
about $220,OOO,OOO lower than for
the previous fiscal year. But at that
they were more than $2O,O00,000
higher than the fiscal year of 1912;
they were higher than any year in
the history of the country previous
to 1913.
Now when we consider that imme-
diately following the outbreak of
the war our imports were only $780,
767,89O in August, ran to as low a
figure as $114,656,545 in December,
rose no higher than $122,14S.317 in
January, and ran up to only $125,l23,-
391 for February, we can see what
it means to have our imports crowd
ing into the country as they have
been since the first day of March.
From that date to the end of June
they amounted to nearly $620,O00,-
600. This is an annual rate which
snaps right back to the rate which
gave the enormous total of 1884,
169,180 in the fiscal year of 1914,
with Mr.. Wilson's new tariff going
full blast for the greater part of it.
And this was $460,0OO,O0O more
than in the fiscal year Of 1907 and
$670,000,000 more than IN the fiscal
year of 1906, the two great boom
years Immediately preceding the
panic in the fall of 1907!
We are now, and during five
months have been-for we are at
the end of July, with heavy imports
in this month--bringing foreign
goods into this country in a volume
and at value which promise in the
next year to break all records, an
nual as well as monthly. And this
goes on with Germany, Austria and
Russia virtually barred out of our
markets and with Belgium all but
eliminated from the very important
position she held in international
commerce before the war.
So, then, it is unmistal1ablv clear
that the world, compelled to buy
here incessantly and enormously, is
also compelled to make payment to
US with every article of commerce
that it can rake and scrape to pay
down to us on account. And, so long
as the war continues, the world will
go on raking and scraping all it's
available property to trade out with
us for the things it must have and
can't get anywhere else.
Desperately driven to get our SUD-
plies, the world, as we have more
than once expressed it, will send us
its art treasures, it's household fur
niture and the family spoons before
it will stop buying from us for lack
OF the means to pay.