William Mckinley volume 1

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William Mckinley volume 1
Charles S Charles Sumner Olcott
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The value of free imports during the twelve months THE McKINLEY BILL 183 ending September 30, 1891, was $118, 092, 387 more than the value of free imports during the corre- sponding twelve months of the preceding year, and there was during the same period a decrease of $106, 846, 508 in the value of imports of dutiable merchandise. The percentage of merchandise ad- mitted free of duty during the year to which I have referred, the first under the new tariff, was 48. 18 while during the preceding... twelve months, under the old tariff, the percentage was 34. 27, an increase of 13. 91 per cent. If we take the six months ending September 30 last, which covers the time during which sugars have been admitted free of duty, the per cent of value of merchandise imported free of duty is found to be 55. 37, which is a larger percentage of free imports than during any prior fiscal year in the history of the Government. If we turn to exports of merchandise, the statistics are full of gratification. The value of such exports of merchandise for the twelve months ending September 30, 1891, was $923, 091, 136, while for the corresponding previous twelve months it was $860, 177, 115, an increase of $62, 914, 021, which is nearly three times the average annual increase of exports of merchandise for the preceding twenty years; this exceeds in amount and value the exports of merchandise during any year in the history of the Government.

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