Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1843-11-03

The first general act oCMe first Congress.
| "Whereas it is necessary for the support Of
government, for the discharge of the debts of the
| United States, and for The encouragement and pro-
ection omdnuf dciures, that duties be laid goods,
wares, and merchandise imported-Be Il enacted"
&c. This subject was moved at the earliest op.
| portunny by Mr.. Madison, the father Of the Con-
stitution, and the act signed by President
Washington, the Fourth of July 1889. This and
other similar acts of legislation rescued and saved
| the country. But it was n terrible ordeal, and
| put in peril the existence Of the republic, 10 have
bought at such time so much more than we
sold.
The periodfom 1890 10 1907.
This was one OF comparative prosperity, but
not so great as we were entitled to. Our neutral
position during the protructed war in Europe,
made up in part for the defects of our CONNER
cinl regulations, by opening to us in some degree
| the ports of the belligerent powers, and giving us
portion of their commerce and carrying trade.
| Nevertheless, it will be found (see House Doc,
No. 3, LIST Session, 26th Congress- that in each of
these years the balance of trade between us and
foreign parts, was against us, and in some years
| il was very great. For the whole period it was
$22099S 06l, or n trile less than ton hundred and
thirty millions Of dollars, See same authority
Some abatement from this balance ought doubt.
less TO he made for the different modes Of estilna-
ting the respective amounts Of imports and ex.
! ports; but after all due allowances this ac-
count, the balance would still be against us to q
startling amount.
The period bet,ceen 1907 and 1915.
With non-mporation, uun-inlercourse, en-
burgo, and war upon US, this period was Of course
disastrous, il foreign trade, under any circumstan-
ces, Je beneficial, doubtless ii it is proper
iy regulated. The imports fell off from one hun
bred and thiriy-egM millions in 1907, TO fHy.Seren
millions in 1908. and the exports from from one
hundred and eight millions in the former year to
tcenty loo millions in the latter, and both cOntin-
| 4 A
about thirteen millions, and the exports to about
Seren millions, in 1914 The balance Of trade, as
usuOL was against US the aggregate for this pc
Rod of seven years being 50 220,330. (Sce same
document as above.)
The period from 1915 t. 1888 mcluSipe
From The same auihoi,y as above, we find, that,
| in the last three quarters of the fiscal year, ISl
! rs, to wit, the first three quarters after the
peace, the imports exceeded the exports by more
| Than siriy millions Of dollars that in the ycnr
l5l5-'l6, before the tariff OF 1916 began To OPP
erate the excess OF imports over exports was
about Siriy one millions; that in 1886, the excess
was again sirty one millions ; and that the aggre-
| gate excess Of imports the aggregate of ex-
ports from 1915 10 1898 inclusive, was $685.
Cos lahore than four hundred and fifteen millions
oCdOHars.)
Period from 1888 10 1910, inclusive.
This it will be SEEM is u partial lap ouer on the
previous head The balance of foreign trade
against us Tor this period, being eight years,
amounted 80 the enormous sum of Sl72,770,000.
upward of one hundred and Serentyioo millions
| ojdoIdrS) From 1885 TO 1910, the balance
against Sl32670,000 (more than one hun
dred ndUtiriy t,0o millions Of doltdrs,) of which
the six SlOre which we bought amounted to one
hundred and six millions. What IL draft this on
The money OF the country
Another lien IN this reckoning.
There is another fact of very material conse-
quence TO be considered: viz, that large frac ton
of our experts has been of foreign origin. From
the same authority, above cited we fud, that the
aggregate exports from 1903 to 1898, inclusive
was S2,775, 406 407 more than ftUo thousand Seuen
hundred millions Of dotars,) and that, of this
amount, 1852 o73942, nearly one third, was of
foreign origin 1t will be seen. that all the profits
Of producing, and the profits OF ali the capital en-
ployed in producing, these exports of foreign ORR
GIN were realized by foreigners, and that we had
nothing but the profits of the trade and nayga-
lion engaged in this commerce. Nay, part of
this was in the hands OF foreigners. This great
and comprehensive fact eDhances the balance of
foreign trade against us Immensely.
The problem Soired.
1t has been asked, why should this country SO
exubernnt and neXlIaustlble in lis resources, and
lenanled by such an enterprising, working peo-
pie, he so Often involved IN commercial Distress
bank susI ensions, want OF money, bad state Of he
currency, &C.. Sc? The answer is found in the
luCls we nave ulsCiOseu, anu He result is DuScQ on
the principle that n man who is constantly buy
Jog more than he sells, will get into trouble. Ii is
precisely the same with nation. Such mans
credit, if had been good may sustain him for
while but, under snch asystem Of had economy,
il eau not last long. Ii is the same with a nation.
BY various commercial shifts of the people, and
by temporary financial expedents Of The Gov
ernment nation that is constantly buying more
than it sells, can patch up lis credit for
nation, under system OF bad economy, may
stand longer than single man but, when it
does fall, great is the fall thereof
How this pice Of buying too muuh came upon us.
1t was by inexperence, temptation, and seduc-
ton and seduction was the leading influence.
When Great Britain Jailed TO beat US in the field,
she took system Of commercial policy, by which
she did beat us. Ii was said and said with truth,
for the first few years, that England profIed
more by the Revolutionary than we did
We went lnIo that war to get rid of system of
direct taxation and oppression, and came out of
il TO be sub ect to more grievous system OF indi
rect taxation and oppression and the latter sys-
tenn although we have partially shaken il of, we
have not gol rid OF to this day.
The Sedtcer.
England set up to he thu work shop of tho
world, and tho weuver's loom for every nations
back. Toward us she first tyrant, and
commanded. Witness her prohibition of all ex-
ports from the American colonies, of anything
like the productions OF her own shop at home.
Bat when she could no longer support her au.
thority, she began 10 coax. and put the airs of
n sedurer. "Whal excellent goods these fine
wares fist rate merchandise buy Them" And
we Tell into The leinplaIlOn and haG 10 pay for
them.
YhatMe remedy is.
II is in substance, TO enact such regulations for
the government Uf our foreign trade, as will coun-
teract & prevent this everlasting excess of imports
over exportsand turn the tide OF foreign commerce
La, "a, q. =.