The daily union. [volume] (Washington [D.C.]) 1845-1857, 1857-02-18
THE BALANCE OF TRADE AND Loss OF SPECIE.

The Anglo-Sason in discussing these subjects presents
significant facts and cummentE We copy few extracts
The balance of trade with the East Is largely against
the West il has been fer time and is yearly III
creasng. The impulse given to trade in England by
the introduction of her freetrade policy and the gold
discoveries before alluded has greatly increased the ab
y and desire amongst her people to consume eastern pro-
ducts The value Of her exports years ago only
fifty million pounds but last year amounted nearly
one hundred and twenty millions. Such trade must
in the aggregate have yielded immense profits seeing that
the articles of export in manufactures the product
her labor No doubt these large expectations
balanced by her mportaons Of maeris and articles
of necessity luxury, such cotton, silk corn
bacco &c but las nearly the last year, she
pay for al her imporatons in articles manufactured
of home and foreign raw material she has all the internal
consumption of the abovenamed articles free of charge
put il in another light ready exchange for the agr
cultural produce of her ands-her beef mutton corn
fruit and vegetables this home market to her farmers being
surer and more prohabs than they had to export their
produce to purchase their Injuries.
aThe British exports to India in 1855 amounted to flo
year was sI2 900 leaving direct balance TINT
account against England of f2,3l5ooo Again Chi
ma: in the year the exports that kingdom
only FL 100000 10 meet importation of EB 746 0eo
leaving of S7 900 be settled in hard
in China and the East generally the recognised and only
available medium of such settlement il invariably silver
we begin 70 see solution 70 the question: Where is all
In addition to this large balance against herself d.
recty in the Chinese and East India trade there other
All the tea which imported into the United States ia
paid by bills drawn London upon the credit Of the
corn tobacco cotton gold and other articles sent from
America 10 Britain All those products of China and the
East which import directly into the Australian colonies
arranged in the same way by drafts issued upon the
credit of the gold wool aow DC by colonies the
mother country the balance OF trade with the Australians
last year being about 900 in favor of the colonies
owing to the large remtances of gold Besides the great
increase In the importation OF articles of produce
into France and Germany, such as indigo rice OIL coffee
&c without corresponding expectation Of European
duce maDuiacture to balance it another of dis
turbance to the exchanges. .a..-E
M there any prospect of increased consumption
of articles of European produce in China the East gn-
orally, might hope for return of of the silver
thus absorbed but instead of this the importation by the
Chinese least of British manufacturer has considerably
decreased having been In 1852 e. oo0 and only
100000 in 1885 In the distracted of China and
the comparative absence there and in the Ease of desire
for the products OF European manufacture and the gene
rally frugal style of living natural TO the people look
in vain TO relief from this drain upon the commercial
world The silver which goes the East undoubied-
y find its way into the hands of the smng millions which
people the howery land and the quantity although large
in the aggregate is but little when scattered among
immense population But thing ia certain-when
it enters there conn eey lost to the necessities of
If it had been into the Ii is boarded
and carefully concealed from the Jealous eyes of Mandarin
outside barbarian and although its posessor may be
little the better fort suppose be feels fully compensated
for all his trouble in procuring II by lis possession
The import Of into the United States has risen from
pounds in ls49 to 10000 pounds in 1856
whilst that Of Great Britain has increased in few years
from Al pounds 81 100000 pounds and the ar
port of silk from 1900 bales $4,000 and this as We
have before remarked with diminished export to the
producing land.
II this continues the ambition of our thrifty housewives
possess silver set will have give way before
greater necessity and the bright nru hitherto considered
the indispensable requisite to procuring good cup the
draught which cheers but iuebriates may stif be
desderatum to that end after preparatory journey
the mint although in very different and altered
FORM