The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1858-12-01
our Foreign Trade.

period Of the recent collapse and pressure in the
trade ofthis country IS well as Of the greater
portion OF Europe. The Statistics given by the
journal Of Commerce would have more nearly
covered this period, If they had represented
fiscal year ending on the 3Oth ofAugust, rather
than of jung, f9r. the collapse had made little
ea our rsq4gn tradein. Ole months
ofJuly and August 1857. The figures given
show only the effect for ten months rather than
fora whole year; though it is for he ten months
in which the chief biunt o. the CONFUSION was
felt. .-su"1t ~nN ~s'"G.f 's9d 7d't
Looking to tho two great items ofexports o
domestic produce exclusive ofspecic, and imports
for consumption, we find that the former fell from
$27S,9O6, Il3 in the fiscal year ending June, 1857
to $24L35l, ,o33 Cor the fiscal year ending with
last June; showinga falling off in exports ofdo-
mestic produce Of S37 ,655,G $50. The specie ex
ports fell off from $50 1876, ,922 to $52, ,633 III:
showing difference of SIC, ,5O3,775. Thus on
the credit side Of our foreign trade there was a
difference of S54,159,45o.
4
in the foreign importationS ofthe country for the
two years. The amount of that, exclusive of
merchandise re exported, for the first Of the two
years under comparison, was S345,073,CJ4;
while, for the fiscal year just ended, it was
$26i ,952, ,CQ5; showing difference on the debit
side of our Foreign trade Of 9t02O 1876 dollais.
Thus while the export Of tic country were re-
duced 81, is, ,450 by the coEyulSioa, its imports
were reduced 84,Oo0 lS5. 1t was supposed for
some time that much smaller falling off would
occur in exports and a somewhat larger in i'm
ports; but the amount Of expectations has been
curtailed below what was estimated by the pri-
ces which have ruled IN the European markets,
for rsome time, for brcadstuffS, and the smaller
demand fer American grain which has been
superinluccd by unusually good crops in the
importing European districts.
Comparing the falling off of exports with
those ofimporIs in the last fiscal year, there is
net result in favor Of retrenchmcnt, liquida
ton, and undertaking of about thirty millions
Of fdollars. Although this is less than was ex-
pected it is fortunate for US that we have lived
within cur income rather than beyond t--very
fortunate for us that we have retained the dic-
ference in the shape ofspecie to strengthen our
banks and finances at home rather than had
margin on the cutaly side to make up by ex-
lports fspccie and lost the coin and bullion
which is now the basis Of the commercial
strength and confidence which prevails in all the
commercial circles Of the country. 1t is in re-
gard to the movements Of specie that this con-
traction imports has been most signaIIy for
fortunate in restoring ease and confidence 10 our
money ma.keta. In the first Of the two fiscal
years we have had under comparison, wo have
shown that our specie erp2rts were Co. 1876 ,922,
while in the latter they we're 81, ,G33, 147; show
ing saving in the last year, in consequence oil
the check which was put upon importation, o.
1G,503,715. At the same time the imports oi
specie in the first 0 ofthe two years were 12,4Gl,-
799; while in the second they were 1921, ,49G
showing gain in the last year in the specie
importation Of G812,607 Thus there was q
difference in the dealing Of the country in spe-
Gle in the fiscal year just ended, compared with
the preceding, of q, 3,3l6, ,472; which nearly rep
f resents the net difference which subsisted be-
tween the imports and exports Of the Year.
The exports of the country fcll short Of the
amount which for some time was expected, in
} consequence of good crops abroad, and the low
prices Of grain which this circumstance occa
stoned in the foreign markets. The curtail
ment was confined of course to the exports o
breadstutfs, and the country has again realized
the uncertainty of all calculations and opera
tons built on that class OF our foreign exports
The amount Of our exports of breadstufIs abroat
will always depend upon contingencies which
it is impossbl, for any forecast Ito divine, ant
: must ever be as 1uctuaiing as the seasons are
variable. ...
This fact throws US back upon another vcrJ
important consideration, which we ought tt
seize every opportunity tc press home upon tn
politicians ofthe North. We have shown tina
in the great year Of convulsion and pressure ou
fiGly.four millions of dollars, while our 6reg1
imports decl' ned by the more enormous sum o
5 eighty -four millions. But there was one class
: ofexports which, amid convulsion and panic
wreck and collapse, held on the even tenor off
way, giving no sign Of huctuation or decline
Our exports Of cotton to foreign countries 70
: the fiscal year ending June, 1861, were to III
value Of 13t .575, $50; those for the fiscal yea
!, ending with June, 1858, were to the value 0
: 131, 1856 SCI. Thus, whls our gross export
fell Oft fifty four millions in value, our export
Of cotton remained almost at identicaly tht
: same figures. The falling off in cur export
, was exclusively in breadstufs and manufacture;
: the product of free labor, there was no falling
OF in the exports Of the great agricultural sta
PIE which is the exclusive products Of slav
), laLor. IN.
r The exports Of a country are the basis Of it
\ foreign trade. There is no element of fuctua
ton in the export trade Of our country, cxcep
= in the products Of free labor. There is no Gle
mcnt Of stability In its export trade, except j
= the great staples which are produced by slav
! labor. Mr.. Seward, endorsed BY New. York
: and Supported by party which boasts asGen
: Edency in all the States employing free labo
proposes to strike down the industry wilic
r produces the staple upon which the foreign trad
= and commercial greatness Of our country absc
lutely rests a#l 't
; Let us see what proportion the exports I
! southern staples bear to the whole exports {
Z de country. The total exports Of domesti