40 



COTTON TEXTILES IN FOREIGN COUNTRIES. 



the amount, which reached to nearly $100,000. The agent was told to 

 call on the next day, and the balance was promptly paid ; but when he 

 asked for a new order it was respectfully declined on the ground that 

 the house had just arranged better terms with another manufacturing 

 company. This incident illustrates the unrelenting competition which 

 exists among the manufacturers of Europe to obtain a market for their 

 goods. It is this facility in getting long credits in Europe which, among 

 other things, militates against the rapid increase, not only of the cotton, 

 but of the general trade of the Argentine Kepublic with the United 

 States. Except in a very few cases, where the financial standing of 

 the importing house is above all criticism, I believe that American cot- 

 tons are still sold here for cash, or for what is equal to cash the goods 

 in many cases being invoiced to some banking house to be delivered 

 on the payment of the bills drawn against them. Of course, when the 

 business of our manufacturers is thus done through a bank, which charges 

 commissions and interest, or when they pay some banking house in 

 Europe a commission for accepting their drafts, the remittance going 

 through the same house, the intervention of so many middle-men makes 

 the transaction expensive. But all this outlay and percentage is saved 

 by the European manufacturers, who can afford to wait for their money, 

 and in many cases the saving is equal to a fair profit on the goods. 



DUTIES CHARGED ON COTTONS. 



In regard to the duties charged on cottons I have to say that the 

 Argentine customs tariff is not a continuing law, but runs only for the 

 year for which it is enacted ; and that for the imposts levied by the 

 Government the custom-house valuations on imported articles are offi- 

 cially regulated and fixed by the executive department at the begin- 

 ning of each year. The tariff and official valuations on cotton goods 

 for the 1889 have been fixed as follows : 



Argentine cotton tariff 1889. 

 [Rate of duty 25 per cent.] 



