The daily union. [volume] (Washington [D.C.]) 1845-1857, 1849-06-08

Oar Commercial Correspondence.
Our New York correspondent has sent US another of
his able and interesting letters which will be found in
another column Its contents will be found interesting
not only the merchants farmers, and manufacturers
but to every class in community
The proposed modification of the British navigation
laws is perhaps the most interesting subject now before
the mercantile community; and the facts and statistics
furnished by correspondent should not be overlooked
by any one who desires 10 form conclusions as
TO the practical operations OF the present laws and the
effect which will be produced by their modification or re-
neal We have heretofore mentioned as pregnant fact
hathe of Eng gland desired the British govern
nen to adhere the present system They are farseeing
and spacious men, and this circumstance alone would go
far to convince that they fear the competition which
threatens them, and that the proposed notifications would
confer great beneh fits upon the shipping interests of the
United States We informed, that in the direct
trade between Eng land and the United States in which
equal privileges enjoyed under treaty slpuations by
British and American vessels, the tonnage of the United
States exceeds that OF Great Britain by thirty per cent
and that excess prevails while freghts in American yes
sells are as five to one in the British This mere fact is
conclusive 10 minds Of the superiority of our mer-
chant marine, and convinces that il has nothing to
fear from any competition the high II this be
So then the principles of free trade applied our navi
CATION laws will produce immense commercial advan-
tages enhancing the value OF agricultural products
while it benefits and enlarges our shipping interests,
The information furnished by correspondent rela-
tive to the operation OF financial and nercal sys-
tenn highly gratifying The wings attributed grea
export OF agricultural productions, when the
bill of 1916 first went into operation, solely TO the
usual and temporary demand furnished by the famine in
Ireland They contended that the effect would disap-
pear with the cause and that the ruin which they pre-
dc,ed would upon in all its severity when Ire
land should TO be scourged by famine But it APP
pears that with full crop in England and her depend
ences, and in the face of unparalleled commissions in
Europe domestic exports have steadily increased
The amount of domestic produce sent abroad during the
month of May OF this year exceeds that of any previous
year This result is necessary consequence OF our lib
eal commercial policy, which permits foreign nations to
purchase surplus productions in a great measure
with their own; and prevents those commercial en-
barassments abroad which always attended heavy
purchases of bressus, while the restif policy OF
the wings was pursued and gave temporary character
to the advantages which agrculurists derived from
the foreign demand When the tariff Of 1912 was re-
peaed, wing statesmen and wing politician conf
dent that the imports into the United States would be so
great TO create unavorabe balance of trade against
us, requiring runous export of specie in order to pay
1t They commended for this point strenuousy and they
urged with great warmth and seeming earnestness that
the result would necessarily attend importation large
enough TO furnish sufficient to the government
binder the low duties of 1916 But in this as in other
instances they have been disappointed Our bealty to
foreign nations enables them to purchase from US
and thus that while the import has been sufficient
TO increase the revenue half million month, our ex-
port has been sufficient turn the balance of trade to-
ward the United States. and prevent even the usual ex.
port of specie.
We again urge upon readers TO consider aentively
the letter OF our correspondent; for it is from the pen of
Of the ablesl and accurate commercial writer's
in the Union.