IMPORTS AND EXPORTS. THE value of the Imports into the Colony in each of the last ten years was as follows: Of the goods entered for Island consumption the advalorem duty was paid in respect of £716,379 or 40 per cent. of the whole; specific duties were levied in respect of goods valued at £826,462 or 48 per cent. and goods of the value of £220,158 or 12 per cent. were entered under the free list. The specific duties levied averaged 28 per cent. on cost of the goods in respect of which they were levied and the total amount of duties collected distributed over the total imports was equivalent to a uniform tax of 18 per cent. on first cost of all goods entered for consumption during the year. Under arrangements made with the Government of the United States to secure to the Colony the advantages of reciprocal trade relations a large addition was made to the free list by which it was estimated that a sacrifice of revenue approximating £30,000 a year would be made. The new tariff came in force as from the 1st February, 1892, and from that date to the end of the financial year the ascertained remission was £7,100. Of this remission 84 per cent. was in respect of imports from the United States and 11 per cent. on imports from the United Kingdom. The imports into the Colony during each of the last three years were drawn from the several countries in the following proportions, viz. : — The decreased trade with the United Kingdom is due to smaller importations of British manufactured goods and the increase in the importations from the United States to the larger proportion which the imports of foodstuffs during the year bore to total imports. The increase of imports from Canada herald the entry into the local market of manufactured goods, the imports from this source having heretofore consisted almost entirely of fishstuffs. The value of the exports in each of the last ten years is shown below: |