The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1916-04-29
Significant Tariff Facts.

Some interesting facts In connec-
ton with the workings Of the present
tarin law are developed by an analy-
Sis OF the records. In view OF the
war, the fairest basis of comparison,
Tor the purpose OF showing the effects
OF the tariff law on our trade, is the
ten months period from October,
1913. when the law became effective.
until July 81. 1914. when the Eu-
ropean war was declared. compared
with October, 1919, to July, 1913,
under the Paync-Aldrich act.
The figures from October, 1914.
to July. 1915, full war period, also
show an interesting contrast. For
the ten months ended July, 1918. our
total foreign trade was 1854, $685.
642, OF which $2.110. 4G6,639 was
exports and 1.503,S27.O02 was i'm
ports. yielding favorable trade bal
ance OF 5000. 639,636. For the ten
months ended July, 1914, under the
present tariff law, our total foreign
trade was $3.557,383,078, OF which
s1,951,57S,296 was exports and ST.
Gob.8O4,7S2 was imports. or favor
able balance OF trade of s345,773,-
10. This shows loss of 7.6 per
cent1in exports, or sales abroad, u
gain OF about seven per cent in i'm
ports, or products competing with
American goods, and a loss Of forty
three per cent In our favorable trade
balance. For the ten months ended
Jnly. 1915, dull war period), our
total trade rose to $4,005. 957,32I.
OF which s2,617,698,636 was exports
and S1.3S8,25S.6s5 was imports, or
q favorable balance OF trade due to
the war OF s1.229,439,951, which Is
the high record In the history OF our
foreign commerce.
The present law became effective
October 4, 1913, and thus was in op-
Grafton only nine months OF the fiscal
year 1914. During the period July
to October 8. 1913. 500, fs9,8S3 of
customs revenue were collected I'M
der the Payne law. In addition to
this, about twenty million dollars
was realized from the Payne rates on
wool. wooden goods and sugar, which
were carried over for few months
under the Underwood law. 1t Is
figured out that this would leave
$780, 100000 to be credited to the
Underwood law during the first nine
months OF its operation, of a monthly
average OF twenty million dollars.
compared with monthly average
under the Payne law for 1913 of
S26.500.000. an average loss of &c.
100000 monthly. or about seventy
eight million dollars n year.
The total receipts from customs
during the year 1915 were about ten
million dollars less than tho esti-
mate OF the treasury. but the receipts
from corporation and individual in
come taxes were augmented because
of corporation and Individual war
profits. The war revenue measure
produced fltty-two million dollars
and the income tax eighty million
dollars. which reduced the total ex-
cess of disbursements over receipts
to s67. 500. 900.
During the calendar year 1912, on
S1,S1s,000,00 of imports there was
$326,340.000 of customs revenue, or
nm average rate of duty on all i'm
ports of eighteen per cent. During
the calendar year 1918. nine months
under the Payne law. and three
months under the Underwood law,
81. 1923, 100000 of Imports. were re-
allied customs revenue In the sum
Of $210.sn0,000 or an average rate
Of duty of ia per cent. For 1914.
Ave months of war. our imports to-
tailed $1.7S9,250.00O. the duty COL
lected s241. 25O.O00, the average
rate Of duty 1876 per cent. For the
year 1915, full war period, our i'm
ports amounted to 1,77S,600, 900,
the duty collected was s19S.606,-
900, the average duty rate Ill per
cent.
These figures indicate that while
imports fell Off slightly over two pei
cents. comparing 1915 with 1912.
duties fell off thirty-nine per cent
and, compared with 1913, imports
fell off about eight per cent, while
duties fell off thirty-six per cent.
During the month of January. last,
we imported goods to the value of
$1S4,0oo.00o, the duty collected