Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-12-16
AND EXPORTS OF THR u. STATES, SHOWING III
YEARLY EXCESS OF EACH.

&C wears 1877 as.oa aessisa777 4ss2aSii ss,ies1s
Total Of imports. si"eoi;oo
the close of the the imports exceeded the sx-
ports largely the time the public debt in
creased $4,000 0OO and fair amount Of capital at
tracted to this country for the establishment of hanks.
This capital in the shape of goods, and swced the
imports over the natural profit exports with tho
freight added without creating demand for CON- n
the wear 1920 however, a balance had accumulated,
which was to paid for accordingly In 1871 the ex
ports exceeded the imports nearly $2O0 600 which with
the profit and freight the whole export made foreign
payment about sIooooooe This process Of payment
again took place in the years 1926 1897 and 1885, From
that time Of imports swelled rapidly until 1888
This was brought about by the system of open credas
with the three banks in London and at that time 70
reign debt was estimated at 500 100000 The usual man
nsr of payment by exports, did not however,
take place state stocks substituted, and from 1895
TO 1885, upwards Of GOO 000 state and corporations
debts were issued wherewh to pay our debts, and still
Increase the imports In 1889 the sale OF stocks
In 1910 there but to pay with
the annual balance due abroad being increased
81 by the interest due the state and corpora
ton stocks issued The time of payment was come, and
the low prices produce fortunately rendered avaabs
European markets 1t appears the value exported
was siai 7 $50 which, calculating the average proGt
and freight per have yielded in the foreign
markets s735s7 making an aggregate European ere
dit, amounting to sloi so.!N
For which we receiv ed imports, ia,so5ys9l
Balance paid abroad oa.interest, Sc. s4oSoi,s@
OF this enormous eco has gone to pay Interest,"
on money and lost in banks railways and spe-
culatons of all kinds The remainder, SSl ooooco has
gone the of the large commercial dsh
created by the paper imitation of 1899 That Affairs
hav he'd this healthy point matter OF congraua-
tion and may look forward to gradual and healthy
rise of prices under effective demand for forsigs
suupon the returning in the shape Of Increased
imports first deducting the 900 cash, due yearly
for interest, the entaed curse of wild speculation
In commenting upon the fact of excess of exports
O, er imports the Courier and Enquirer has near co.
lumn OF the absurd statements that di'grsced
the columns of Wall street print HapPeas to be
for purpose OF abusing the Secretary Of tho
Treasury After stating that the excess Of experts 10
SOC coo COO, il has the following -
To us however, who believe that the exports Of the
country paid for by the IMPORTS and the imports by The
exports this statement alas. gives rise to very different
reflections We see in it most amentale state of things
depreciation in the value OF the pro-
ducts of industry, and material dn>u in Sa.s
rial weah and yet, can scarce wonder hen We re-
fleet on stupid interference which has been SO long
going with the pursuits of man. under the prctexs Of
regulating the currency and preventing o'er-trsdng
They have indeed regulated the currency and ire-
vented overtrading with avengeanee
This deficiency ofupwards OF wenty-six millions does
not however represent the whole loss the country has
sustained We have lost besides the whole produce our
fisheries sold abroad and almost exclusively our
freight on II, ana this too whilst the Pesent tells as
have enjoyed the "blessngs Of health plenty and
peace
In this IN. unlimited cred, system carried
6nsu emit The Courier considers all capital applied 70
the pay ofdebts Loaf. 1t says il is lsnen'abbs
state things that pay our foreign debts THIS mast
surely be its meaning ort cannot suppose our whole es
ports at lew prices have been sold abroad Tor less han
their invoice prices at the time and place OF shpmont
This nigh, when prices Undated, but scarcely
when prices are low According to this most cont fort
able doctrine we are lose at least 600 ennusy
for future and lose large sums in addition when
ever the prncp pals the loans fall due The wise $3.50
tors Of the Courier 10 the organ, have better plsn
BY which the interest and principles may be paid whout
deducting from the proceeds OF industry
u is no less than by the aid Of the administration 70
borrow the money stocks. This will make the
matter all right in their view The there is Iay,
why much more must be borrowed.
Gov Fletehers message the legislature OF KeH,nsky
received and medium ofcngh and occupied
chiefly with Of the peeuniary condition Of the
commonwe alth.
The expenses Of the state government for the md
ing on the Ioh October last exceeded the cor
lessd and paid into the treasuryand IS estimated ny
the auditor that the receipts Of the ensuing year
will fall short OF the expenditures about $1,000 The
Governor suggests the proprsty OF adopting nca
sure by whchhe recurrence Of This may b pfessBsd
| without resorting TO loans
psy the several nstamcnts Of interest due M PRESENT
debt and the state lis surety has had 70 advnee ths
that its whole debt principal and interest will have 70 h
borne Ny the treasury and that viii never be able even
to reimburse the amount already advanced by the STATE %
IL. surety As the only recourse, the governor recon-
that immeds,s steps he taken 70 sell the road ssJ
thereby indemnify the state for what she liable ss wsh
| as for hat she has already paid.
The money borrow by the for internal imT
ment purpos,s ind for which bonds have been Hsued
amounts to S9 900 less by S91 800 the amount held ~
the Board Of and s2ocoo held by the Connie
soners of the sinking fund.- which are considered Jeb
due from the 20 tho state This leaves the sum Oh
s27soOoo as the exact amount OF the public dcb AZ
| which bonds have been executed -
To this debt there Is On aecur uated uno o. oek
in the several banks Of the state Of s'aIi OF
actual debt leaves the Of tTs,ooo For the pa m.nt
ofthe prnsp pal Of THU revision yet been male
Of February last seos 600 being sol 600 less thar ""s
| authorized.