Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1845-10-04
THE BALANCE OF TRADE.

The Mobile Register and Journal = Of the 10th
Fof September has long article respecting the state
ment of the commerce OF the United States with
the other nations of the American continent which
appeared in our paper Of the I'd OF that month
Pleased that our contemporary considers the table
I. very interesting one, we cannot admit the
correctness of the conclusions which he deduces
from il. In particular we allude 10 the arguments
used against what he calls " the tariff doctrine oil
the balance Of trade" in which he makes the friends
of the tariff hold opinions upon that subject which
we think they do not entertain, Those notions oil
the balance Of trade, which the Mobile editor calls
exploded. are regarded in the same light by the adj
yocales of the tariff, and, from the tenor of his
reasoning. we are led 10 suppose that our contem-
porary has not himself very clear perception OF
what Il -.
We cannot imagine that any friend Of the tariff
would draw the conclusion that our trade last year
with the other nations OF the American continent
was most unfortunate and disastrous one TO the
United States" merely because our aggregate I'M
ports iherefrom exceeded our exports nearly four
millions OF dollars; particularly when the greater
part OF thai excess consisted in three millions OF
specie Besides, more than 100000 OF our I'M
ports from these countries consisted OF coffee, cho.
coate, and cocoa, which are admitted free OF all
duty and OF the remaining le,0OO,OOO there was
scarcely any article whatever which interfered with
our domestic productions either agricultural or ma
nuiaetured. In our aggregate amount OF exports
we find nearly o. ,O00, 900 Of breadstufs, nearly
a. 900 900 OF provisions and upwards Of ,000 900
az manufactures of all kinds--our agricultural ex
ports being 10 our manufactured ones as 10 TO o.
surely our agricultural friends have no right to
complain Of the operations Of the tariff here; and
we will engage that our manufacturing ones will not,
Notwithstanding the balance of trade" esti-
Co,
millions against us.
We will not examine the arguments Of the Mo-
bile editor further upon this point; for we fully
agree with him in his deductions, and admit that
the doctrine OF the balance Of trade as he explains
il, is am exploded one" We only ask him not
10 attribute the adoption Of this exploded" doc
rine to the friends Of the tariff; and deny that the
arguments which he against the tariff, in con-
sequence of such erroneous ascripfion, hare ann
ne least relevancy. We would here state, en- pas
SAINT, that we think the ANNUAL statements of our
exports and imports should not return the amount
Of specie and bullion which we send to or receive
from other nations as part Of such exports and i'm
ports for they certainly not either exports or
imports, commercially considered, but merely the
means Of paying national well as individual ba-
lances Gold and silver, and their representative,
good bills of exchange, have always a real, uni
yersal value. Ii il be said that gold and silver fall
properly into the category OF commercial articles,
because they have price in the market and rise
or fall according TO circumstances, the may be
said Of bills Of exchange, the premium discount
upon which fuctuates with great rapidity. We will
not examine this question al present; in fact, nei
Their the truth nor fallacy of our opinion will ma
terially affect our present object In order, how
ever, to show that the insertion Of the exports and
imports of specie in our annual Treasury report
gives very different appearance to what it would
exhibit were they omitted, we make the following
statement