New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-12-09
MIR. Robert =. WALKER and the Balance
Of Trndc.s


dent,-as reported in the liverpool Cou-
r,er. we find the following statement of
matter of accounts on which we have the
misfortune to differ widely from the ex-
Secretary of the Treasury Hear him
alt is said by the opponents Of our own reduced
Tariff that our Imports have exceeded our Exports
too much under the act OF 1916. Il is sad IN my
country, by the ProtectionistS, that under our
duced Tariff we took too large an amount Of British
| Manufactures thereby, presume, INJECTING ter
rible injury upon England. Laughter and applause.
Our Imports according 10 the Protection journals Of
America, .or the last fiscal year, ending 30th June,
1851, were S223,O57,260, and our Exports for the
| same time were $l95,S9S $50 the difference being
Go or about Ct per cent on the aggregate OF
/ our Imports and Exports Now this Is sal1 TO be an
unfavorable balance Of trade But we must bear in
mind that our Exports are given at their home value,
namely, the value which they bear az New-YOTk,
! New Orleans, and our other shipping ports. lHear,
| hearl- Well, gentlemen, | suppose the Yankee ma
ton don't raise and ship these Exports for nothing
/ We make large profit indicated by hgh
/ rate Of interest and rapldy-increaSlng wealth.
/ Hear hear.l Experience has shown this profit on
| our Exports TO be about 10 per cent which would
amount, for 1851, to $l9,5s9 s65 Then, gentlemen
we don't carry, / suppose, Imports or Exports in
| American vessels without receiving the fIeights.
Experience has shown that sum- for such an sggre
| gate is given for the year 1851, 10 be at least
| S20,000,000 which, added to the profit on our Ex
ports, leaves clear balance IN our favor OF
255, after deducting the s27,l5s6l0 before given.
Our total Imports for the last five years under the
reduced Tariff Of 1916 were Ss50,57f73l, and our
Exports for the time, $500, 1913 9i3, showing
excess in these five years, of Imports over Exports,
/ of $i4,340,1es or is per cent. our Imports.
Now, tho gain to the United States from the profits
upon our Exports, and from freights on the princi
pies above stated, would be Sl62623 1914, and, de-
Quoting the excess OF Imports, would leave our pro-
fits, on the bslance-sheet principle, sllS,3S36C6."
When Mr.. Walker represents "the
Protection journals in America" as striking
balance between the officially declared
Exports and Imports of our Country, and
regarding that as ai1ording true exhibit of
the Balance of Trade, whether for or against
US, he sets forth what he must Inow to be
untrue and deceptive. He knows-he can
not help knowing-that many articles which
paid Specific duties under the Tariff of 'i2
and are now passed at AID Valorem rates
under that of '46, were nyolced and ofli-
cially valued three TO four times as high
then as they are now. Admit some dete-
rioration in the cost or quality, and still we
maintain that our Imports come to as ralued
in the Custom-House returns in the acreage
FIFTY PER CENT. loacer than Hey w0uld be
under Specific duties. Which would be
nearer the true rule, the reader will judge
for himself; the material fact is that our
Exports are nearly all sent to countries
charging Specific Duties, IF any, Whle
our Imports are ralued expressly TO meet
The requirements Of Mr.. Walkers AID Va
loren Tariff No exporter from this coua-
try to England, France, Germany, &c. has
any inducement to invoice low, while the
contrary is the fact with regard to almost
every article brought into this country. If
any man will look through the returns, he
will find that all the Wines. for example.
brought into this country under the Iarlii
of '42 were valued in the average at more
than twice the price per gallon that the
Wines imported under the present Tariff
have been--and so Of many other articles.
These facts have been repeatedly pushed
into Mr.. Walkers face-he cannot and |
dare not deny them. When, therefore, ne
undertakes to make the balance against us
on last years Trade only six and half per |
cent. and quotes "the Protection journals
Of America" as his authority, he is guilty |
Of tick which evena Mississippi gambler
should be ashamed of.
But again he says, our Exports are
estimated at their Home Value, to which a |
large addition must be made for the ship
ping charges ard profts-in other words, for
the enhanced prices at which they were |
sold by US in Europe over their valuation
in our ports. Yet Mr.. Walker ough: to |
know nay, he must have known-that our
chief export staple, COrTON, declined rum
ously during the time that our last years |
crop was going forward, so that the whole
crop was actually sold for considerably |
LESS than the price for whgch u cas IN
rOiced from THIS Country. Hear Heart
But we have short method with the
ex-Director of Finance, which, we submit Is
conclusive. Mr.. Walker You figure out
clear balance on our side of the ledger, OF |
sl243l,255 during the last year, and OF
slls.OOO, 900 since your Tariff of '46 went |
into operation. We'll, Sir, hOsc, then, does
ii hoppen that you are IN England Hy'ns
hard and resoriing to ersry shitt TO 6orro'c |
money! Why are not the English here
rather, blsrneying and borrowing Of u.s. II
the balance of trade is so decidedly in our
favor? Why is the rate Of exchange so
hard against US Why do eur Banks and |
holders Of Stocks watch the returns of spe- |
Gle exported by each Liverpool steamship,