The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-01-05
:
EXPORTS AND IMPOR rs.

| The Journal of Commerce, Of the 1st De-
cember, upon quoting paragraph from the
Evening Post. (staung that the "excess of the
exports were 24,94i 427n and "nearly all in the
tiade with Great Briain'') remarked:
"The above is very gratifying statement as il shows
that We are still reducing debt to foreign countries
In the year ending September 80 lS4l exports
ceeded our imports, in the sum of $26,676059. Ex-
cess of exports over imports in the last two years
$5l, 7l04S6. If We estimate the interest our Stock
debts to foreign countries at $l2 900 600 per anDum
there actual reduction of indie b eduess the two
years, of nearly ($2S,0oo,o00) twenty eight mil
lions
In the NIadisonian of The 29th ult, we cor
rected the error, Caused by the statement of
the Evening Post, and commented upon by the
Journal of Commerce. and shew that BY the
exhibit of the Secretary of the Treasury the
imports exceeded the exports by $3,006022
The Journal of Commerce, December Dist,
thus explains
IMPORTS and EXPORTS Madsonan aludes to
report which got abroad few wesks since, that the
exports of the United States during the last mer
cial year. ending 3Oth September, lSil had much
ceeded the imports; and adds
1--WE are sorry that the fact must correct this erro-
neous impression; and sorry that the country instead
Of paying about 25 600 by exports has increased
her Indebtedness more than 50 100000"
II is true that the imports of the year exceed the
exports by $1,000 600, but it does follow that the
country has increased its Indebtedness by the opera
ton For it must be remembered that the value Of
exports estimated at home and generally less tina
their value in the countries to which they export
"a. Otherwise there would be dead loss to the ship
pers, of all the expense Of transportation, including
| freight insurance. interest commissions, and other.
r | q he n nd cha
are an average 10 per cent upon the home value
of the goods, and the profits per cent? this 5 per
cent on 1921 100000, (the amount of exports last
year is in round numbers lS 900 600 ve-slx,hs OF
which is on American account. Here then is SIS
600 900 added to the home value of the exports on
American account, making Sl36,00 900 available for
The purchase of imports, / he actual imports during
the past year were 1921 100000; which, deducted
from Is SO 600 600 leaves $4,000 600 for interest ON
the debts Of the States abroad, and to reduce indebted
ness The amount Of interest due abroad is about
SO 100000 annually So, calculation is cor
rect, instead of Increasing our Indebtedness abroad
during the past year $4,000, coo, have reduced
it about $3,000,OO0, besides paying inte rest on
the debt. We here go upon The suppost on that
he principal Of the debt has remained the same
Fortunately the stocks Of but few Of the borrowing
States will now sell abroad, that there is not likely
to be much increase of Indebtedness on that head.
Allowing the Is per cent, assumed by the
Journal Of Commerce, TO be fair per centage to
be added to the amount of exports to go against
the amount of Imports the account for the last
twenty one years will stand thus
Imports 81, 222 2il 81 I
Exports, $l,946, 42Ol49
Add 10 per cent. I29, 1871 1863 2076 ISL ,5l2
Balance ll6,os9, 7O5
After allowing the Is per cent on the whole
amount of exports to be added in offset against
the imports for the last twenty-one years, there
is still an excess of the latter, which remains to
be accounted for and cancelled, to the amount of
$146,0s9,705
We believe the general impression is that our
imports have been too large, which has been one
of tne causes that have contributed to the en-
batrassment of the country. If this be not the
case, we should be happy to learn it, by any ex-
PLANTATION, from any quarter. Our only object
is to ascertain the truth and facts in all cases,
and place them before the public for their con
sderation.
| One thing should be borne in mind viz that
| if our imports have not been too large, the com
plant that has been so frequently made against
the expectation of specie to pay foreign debts
contracted in trade, is entirely groundless.
|