The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-03-02
Balance against

In making up this table, have given the period
der different tariffs SEPARATE tho purpose Of showing
the result of the workings of each. The compromise
act extended from 1882 to 1s4a, part Of both inc!u
sve, and the duty ut the CLOSE for the last years
Of that act ruled very low-lower than under the
present revenue tariff. SO fer the returns of i'm
ports and exports for those years Co. 1t appears that
the operation Of that act not very favorable to
the commerce of the country; but these returns
should not be taken correct criterion Of the effect
Of the tariff upon this trade It 10 well known that
from 1884 to ls42 the banking system Of the country
very much inatedthat prices for every article Of
foreign manufacture and every article Of domestic
duce were very high, which stimulated imports and
checked ports and thus the balance each year
largely against In 1912, change made in the
tariff and the average rate Of duty raised from
twenty to thirty Ave per cent At that Time the bank
inc systems Of nearly every State In the Union had
poded and tho currency had become 60 valuable that
prices for foreign and domestic merchandise ruled In
our markets very This state Of things stimulated
exports and checked imports and the result was that
In ls43 and 1914 the balance largely In our favor
In ls45 and last two years Of the high tariff
the balance against US, which We can account for
BY the expansion which had, in the meantime taken
place in the banking movements Of the country. At
the close the present tariff went into operation
shipments Of bresdstu to Europe advance in prices
the other SIDE aud unprecedented increase In the
value Of exports The imports during the year Is47
were unususy large, approaching very the great
speculative years before the great bank explosion but
the exports moro than kept pace and left handsome
balance in favor ct the closs The imports and
ports Of the past year increased very by the
deficiency In the hsrvests Of Europe Tho demand In
Europe for brcadstu6s creatsd q demand In this
country foreign manufactures and the result
considerable expansion In foreign trade After all
the bsanoe for agalns. u.s. shown BY the official value
Of imports and exports 10 merely nominal and Is
much against the country in which the returns
Il much less than realised and the various changes
through which exported goes before returns
received, adds vastly to ts value and represents
much larger amount OF imports As instance Of this
will suppose cargo of -four, valued at thirty thou
sand dollars s shipped from this port to Rio Jsnero
1T there sold for forty thousand dollars which Is
expended for coffee aud shipped the north OF Europs
where 1t is sold for ATTY thouand dollars This Is
applied to the purchase OF articles suitable for tbs Eng
lish market and shipped to London and sold for sixty
thousand dollars. With this cargo il purchased and
cent to Canton and sold for seventy thousand dollars
and that amount invested in teas and brought to New
YORK It thus appears that original shipment valued
at thirty thousand dollars has by frequent changes In
creased in value than one hundred and thirty ger
cent The excess of imports exports not there
FORE 40 much against MS as appears by the returns