Rensselaer Democrat, Volume 1, Number 6, Rensselaer, Jasper County, 20 May 1898 — AMERICA’S TRADE WITH SPAIN. [ARTICLE]

AMERICA’S TRADE WITH SPAIN.

Cotton aifd Tobacco Are Exchanged for Fruits, Nuts and Wine. Following the bulletin issued by the Agricultural Department last week on the general trade relations of Spain with thereat of the world from 1886 to 1895, the department issues another on our trade relations with Spain from 1888 to 1897. According to the first of these bulletins our trade with Spain during the fiscal year 1597 fell off more than sl,000,000, though in the same period it largely increased with all other European countries. Our trade with Spain, although subject to minor fluctuations, appears to have been gradually shrinking for about fifteen years. It attained its maximum development in 1883, when the combined imports and exports reached a value of $24,725,632, or more than $lO,000,000 in excess of the present figures. The returns for 1897, with the single exception of those for 1895, which fell to $14,501,195, were the lowest recorded since 1878, twenty years ago. The average value per annum for the last five years, 1893-7, amounted to $16,240,588, as against $18,305,404 for the five yeara immediately preceding. Our trade balance with Spain has been normally 3 to 1 in favor of the United States. In 1897 this balance amounted to $7,250,772. The falling off in trade seems to have affected exports and imports equally, so the ratio remains unchanged. The bulk of our exports to Spain are agricultural products, and these have increased from 75 per cent to over 86 per cent in the last decade. Cotton and tobacco form more than 90 per cent of our agricultural exports to Spain. Our Spanish imports are also chiefly agricultural, but these have steadily decreased from 65.91 per cent in 1888-92 to 62.69 per cent in 1893-7. Fruits, nuts and wine farm 85 per cent of our Spanish imports.