parts of the British Empire, it is found that the American exports to the Empire constitute more than half of the entire American export trade. In the import trade of the United States, however, Europe, especially the United Kingdom, is of much less importance, as can be seen in the table on page 680, showing the foreign trade with the principal countries of the world.
In the case of a number of countries outside of Europe the balance of trade is against the United States. The following table shows what part the United States played in the total foreign trade of the different continents of the world in 1897:
| Imports from U.S. Per cent. of total imports |
Exports to the U. S. Per cent. of total exports | |
| Europe | 12.32 | 8.03 |
| North America (except U. S.) | 42.90 | 34.23 |
| South America | 11.01 | 29.79 |
| Africa | 4.22 | 30.00 |
| Asia | 4.51 | 7.52 |
| Australia | 6.70 | 10.00 |
The corresponding percentage of imports from the United States to the United Kingdom varied within the compass 26.5 per cent., and 34 per cent. during the period 1888 to 1898, while the exports to the United States constituted from 21 to 14 per cent. of its foreign exports. The imports of Germany from the United States rose from 7.9 per cent, of its total imports in 1889 to 14.1 per cent. in 1897, its exports to the United States meanwhile varying from 9.1 per cent. to 12.5 per cent. of its total exports. The largest Asiatic customer of the United States is Japan, which the United States supplied in 1898 with 14.2 per cent, of its total imports, taking 29.1 per cent. of its exports. The favorable one-sided trade with Europe is explained by the fact that Europe requires the great bulk of the American surplus products for food for its people and raw materials for its manufactures, while, on the other hand, Europe has little that the United States desires, besides manufactures, and in these the United States is becoming more and more independent. The unfavorable one-sided trade with South America and some other countries, mostly tropical, has a partial explanation in the fact that they are the great producers of the raw products which are for climatic or other reasons insufficiently produced in the United States; nor do they need the raw products of the United States, and have not yet advanced to an industrial stage requiring much of our manufactured products. The latter part of the explanation is not altogether satisfactory, since those countries import large quantities of manufactured products from Europe. The condition of the trade of the United States with South America is by far the most unsatisfactory aspect of our foreign commerce. Much of the blame for the small exports of the United States to South America has been credited to American shipping and to American capitalists and merchants. Many European lines carry on trade with South America, but only a few United States lines (see section Shipping); and the freight rates of these are much higher than those of European lines. Flour has been shipped to Europe and thence reshipped to the West Indies cheaper than it could have been sent by direct shipment. American capitalists have found profitable investment at home, and have not been induced to take many risks in South America. American mcrchants refuse to give so long a credit period as the Europeans do, and have not studied closely the nature of the wants of that region, nor have they contrived methods to deliver goods in a style most suitable to the tastes of the people, as have their European competitors. The trade of the United States with Mexico and Central America, on the contrary, is developing rapidly. In 1897 73.64 per cent. of the Mexican exports were sent to the United States, and 49.29 per cent. of the Mexican imports were received from the United States. The corresponding figures for Central America were respectively 36.72 per cent. and 36.71 per cent. The West Indian trade with the United States is less satisfactory, the corresponding per cent. being 26.49 per cent. and 19.82 per cent. For the trade relations with Porto Rico, Philippines, Hawaii, etc., see under section Colonies.
In the United States trade with Great Britain in recent years there has been a rapid increase in our exports, while the imports have actually declined. (See table.) The United Kingdom is the largest market for the United States for food products, manufacturers' materials, and manufactured products. Raw cotton is the largest single item in its imports, being valued in 1903 at $124,789,603. It is, however, exceeded by the combined imports of animals and animal products, and is rivaled by the aggregate imports of breadstuffs. The United Kingdom annually takes from one-half to two-thirds of the total United States exports of wheat and flour, the value of wheat imports in 1903 being $36,139,752, and flour $37,837,512. The United Kingdom's imports of American corn the same year were valued at $17,081,693. In 1903 the United Kingdom took live cattle to the value of $26,597,390 out of a total shipment valued at $29,848,936. Canada and in recent years Argentina compete with the United States in this trade, but the United States still supplies the United Kingdom with from three-fifths to two-thirds of its imports of live cattle. The United States also supplies the United Kingdom with over two-thirds of its imports of fresh beef, Australia being the chief competitor. The United States is the United Kingdom's chief source of supply for bacon and hams. The latter country annually receives over two-thirds of the United States exports of these products and about one-third of its exports of lard. Of the total exports of manufactured products in 1902, nearly one-half went to Europe, and one-half of these went to the United Kingdom. The value of this class of exports to the United Kingdom increased from $40,000,000 in 1892 to $100,000,000 in 1902. The articles exported are remarkably comprehensive in their scope. The prominent items include leather, machinery, copper work, wood manufactures, petroleum, and paraffin. One hundred locomotives have been exported in a single year, besides large numbers of printing presses and typesetting machines. The chief imports of the United States from the United Kingdom and their values in 1902 were as follows: Cotton goods, $16,376,611; manufactured fibres, $21,077,326; iron and steel manufactures, $15,040,085; and woolen goods, $7,473,587. With
