The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1852-02-03
The Balance of Trade.

| We are closing up the accounts of a years
business, and few reflections thereon cannot
be deemed unreasonable.
There IS such thing as the balance oi
trade'-such thing as an nm nfauora5ie balance
"a balance against us. ANY ia rmer who keeps
an account of his outlay and income. hi, crops
and the cost Of producing them (as every far.
mer should,) aud who finds at the end of the
year that he has sold six hundred dollars, worth
during the past year and bought during the
same period nine hundred dollars worth. ought
certainly to inquire why this is. and whittier it
tends. VI he had been building new house,
on carrying on an expensive law suit. or doing
something which involved him in an extraordi-
nary expense, this state of the accounts need
not alarm him; but if he finds that it is only a
way no has-that his sons have had fine boots.
beaver hats and lever watches. while his daugh
ters have spor;ed silk dresses, leghorn bonnets
and pianos, and that help has been hired to
milk and churn and chop and feed the cattle
while his boys and girls were off sleigh-riding
and dancing night after night-why then we
say that farmers mnst-turn over new leaf and
draw tighter rein on his household, or he will
soon have no house over their heads Won
drous as human ingenuity is. it has never YET
devised mode of subsiracting a larger sum
from smaller, or enabling man to 90 on from
year to year spending more than his income
without rushing on embarrassment and ultimate
bankruptcy.
is there show or reason for believing that
this is less true of community or nation than
it is of an ndividuali We know that an in
dividual of good properly may spend more
than he acquires until he eats himself out of
house and home; do we not know that a peo
pie may do likewise? Suppose, for example
that the Cott,n-planting State should sell
Eighty Millions worth of their staple per an
mum, and buy yearly of Grain and Meat, and
Wares, Pianos and Champagne, Gold Watch
es and Pleasure Carriages. One Hundred Mil
lions worth-do you fancy that this course
could end in anything but general embarass
ent and bankruptcy? " such must inev,ablc
be the result of individual over buying, why
not like course on the part of a State. section
or Nation' ifa large proportion ofthe citizens
of our country run heavily in debt to their mer-
chants who owe for the goods thus absorbed
to the city wholesale or j7boing dealers, who
owe for them in turn 10 the importers. who
likewise owe for them TO European manufac
turers or bankers. why does not the 40 gregate
of this indebtedness form practically Nation
al Debt, depressing the energies and embaras-
sing The industry Of the entire community?-
True, IT may not at all times be fen as an EN-.
barfassment, because the creditors may not be !
pressing nor the debtors seeking 10 provide for
payment; but ct best the sword hangs suspend |
ed by hair. and may fa II al the slightest whs
per of the creditor. Under such auspices. |
how Gao the debtor oe quiet, efficient and pros.
perous?
but surley." says Free Trader YOU
font object to our getting more for our ex-
ports than their cost; nor can you insist that
We are falling in debt to Europe because our
INN arfe o 70. ~fJ.x |
'r than our Exports. Suppose we should send
'ut hundred cargoes of Ice, valued at One
VI illion in all. sell them for Ten Millions and
AXE our pay in Iron, Silk, Tea, &c., would thai
'fove that we were rushing on ruin?'
No. Sir! not at all. We don't regard the
'ffcally declared value of our Exports and
IMPORTS respectfully as of much account one
way or .he other. How could we, when we
ave most undeniable proof that tho various
Vines now imported under Ad Vaorem dury
I'd valorem duty are valued at less than one
hird OF under the Specific Duties Of the Tariff
4 '49l We have no doubt that the actual bal
nee against us is much larger than that shown
y our Custom house valuations; but we placc
o dependence on those valuations. one way or !,
mother.
But these things we do knop-and apy but
ie wfuliy blind may know them: |. That
lrge proportion Of our State debts many mil.
ms are held there and more constantly tend
lg thither; 2. That great amount of our f
.ailroad Bonds and other evidences of Cor
ora'e Indebtedness is helds in Europe and n
'ore kicking about from one banker to snoth. {
: in eager quest of purchasers on almost any v
rms; 3. That our Merchants, as class, are k
'rously in debt to those of whom they pur- j
hnse 10 Europe; T. That largo amounts of 8
uropean capital are constantly coming here v
II Investment. and being loaned on bond and
ortgage and other productive securities: 81
hat great share of the imported goods still e
first hands in this Country ave the property n
the European exports of their agents here, h
hile far less Of owr exported staples are still =,
merica. property, and s. That, ia spite ofl b