Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1916-05-08
Worlds Record Broken.

port trade. We imported $214.o0o.ooo
worth Of goods during that month. or
$4,000, 900 moro than for the previous
month, which takes second place in
the history Of our import trade. Our
exports for March amounted to $780,
600, 900, which is more than any nation
ever exported in any one month. so far
as tho written record OF mankind in
forms US. This stupendous outflow of
goods is caused by the European war.
The Unsuitable maws Of foreign cannon
and every destructive influence which
the ingenuity Of man can direct
against his brother are resulting in a
carousal Of prosperity for the United
States The imports will continue to
record monthly increases SO long as
the Democratic tariff law is on the
statute books, and when the war has
ended and the consuming power of
Europe has returned to something like
normal, the United States will be the
Democrats are then ir power.
The revenue producing ability Of the
Underwood law for March was miser-
able indeed. only s21.0O0,O0 being real
lied on the vast amount of imports, or
an average rate Of duty on all goods
imported during the month of s.S per
cent. The record for the nine months
ended with March is equally bad in
respect to revenues We imported
during that period s1.5O5 100000 worth
of goods. This is S1030O0,000 more
than was imported for the nine months
period ended March 1913, under the
Republican law, but the revenue col
lected up to and including March 1916
was $97O,50O,O00 less than for the
period ended March 1913. For the nine
amounted to $153,0O0,0O0, or an aver
age rate Of duty for the period of 10
per cent. During the nine months
ended March 1918, under the Republic
can law. on s1,402, 100000 of. imports
we collected $25O.345,OO0 Of customs
revenue, or an average rate of duty Of
IS per cent.
Nine months of the current fiscal
year show a net inward gold move
ment of $279,315,3O2. This is money
coming from Europe to be used
toward liquidating cur trade balances
against the belligerents. The record
for the period just previous to the
outbreak of the European war tells
quite another story The Underwood
tariff law had been in effect ten months
before the war started. Our favorable
trade balance began to decrease with
startling rapidity Immediately after
the passage Of that law. BY April it
was against us. In other words we
were buying more than We were SELL
ing. The balance continued against
us each month, rising to $40, 100000 in
August. The effect Of war orders had
not yet become manifested. During
the eight months ended August 1914,
our gold exports totaled nearly $780,
100000.
Not only did the Republican tariff
law protect American industry and
American workingmen, but it kept the
United States treasury in good shape.
When Woodrow Wilson stepped into
Office the outgoing Republican admin
istration was able to hand over to him
a handsome surplus to set up house.
keeping tor Uncle Sam. On March 81,
1913, there was a total balance in the
general fund Of si4S,50O,000 Eighty
millions Of that was set aside as a
working balance. Democratic ex-
travagance and the failure of the I'm
derwood law as a revenue producer
Quilted the Treasury in short order.
At tho end Of March. 1915. outstand-
ing claims against the government,
unavailable assets. etc., amounted to
$i40,43S, 900. McAdoo reported a bal
ance at that time Of $126, ,695. which
was 1859. 900 less than these out
standing claims and unavailable assets.
The secretary Of the treasury has
twice changed the system Of govern
ment accounting in order to hide the
condition Of the treasury, and it is
stated that another method Of book
keeping is soon to be adopted. in order
to put up q bluff at the close Of the
fiscal year. And II . working bal
apce" should show up around the u.
S. treasury they would chloroform it
and send it to Redfields trade mu-
scum.
AaAde 1 aaia Mara Than Ruttar.