Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1859-08-29
The Rush of Imports,

Although the enormous imports of the past
year have necessarily attracted the attention
of rejecting minds, they have not been re-
garded, in their near and remote consequent
ces, with the seriousness which fact of such
moment, in the present condition of the coun-
try, is entitled TO claim. We propose to ex
anime some OF the immediate and urgent con-
sideratious connected with this subject. Dur
ing the ii cal year ending on the 30ih of June,
the gross imports were stated at $40. 000.-
900. or, in round numbers 500 600, 900 more
than for the previous year. 1t is true that
after the revision of 81, the imports were
contracted unnaturally, and hence u reason
able increase was to be expected upon the
aggregate of that fiscal year; though il should
not be forgotten that the first quarter OF it,
ending 30th September, 1857, covered al
most the largest amount of imports OF any in
our commercial records.
But the economical contraction OF 1913
has been followed by reaction without par
alel, and alarming in all its aspects. The
country has not, in any practical sense
wholly recovered from the financial shock
two years ago. The west has only partially
paid its eastern Indebtedness. and from sheer
disability. Two failures in the crops Grip
pied it's only resources, and now, with the
prospect OF a full crop, the markets of the
old world are tbroaged with an excess OF
production at home, and closed against our
competition. Yet with these stubborn facts
staring US ia the face, what are we now wit
p.essiugl A comparative statement of the
nports of foreign DIR, goods ut the port OF
few York, since the first OF January, pre-
eats the following striking exhibit.
ls57 ls5s. 1889.
psrt, sT2,ssb.olO ss5.sia,i22 ss2,Io7 ,s.s
nrawn the
n'arKei. oa,s7s,ssa a4.Iss SIS s2.oss 500
1t will be seen that the whole stocks were
once put on the market, and that the i'm
sorts of this single class OF meTchandiss, ex-
eeded those OF the expanded year 1857 by
so, 000. 000 and almost doubled those of last
ear. The British trade reports for the six
Ioaths preceding the 30th Of Jane, sustain
ais ratio. while they show that, for the i've
Ionths previous to the 3lst ot May last Tue
aports IRON the United States were about
so 000. 900, against sol 600, 0V0 tor the same
eriod last year.
But this expansion has been damaging in
mother respect. After the revuisloa Of 81,
american credit was materially injured
BROAD. The bonds which were scattered
trough Europe fell with that crash, aud new
sues have found no demand, market, or
Iteration. A a necessary consequence. We
ave been compelled 10 pay As We go. a policy |
which, had IL been pursued fur the past ten |
ears, would have enriehe.l the country be- |
oad all exp rience, and made IA indrpen- |
enI Of The world, 10 spite Of our taise politl- |
i economy n d i's faise prophets. The Inn /
orts. a. has been seen. were thrown npoa /
ie market, 10 bring what they would. being |
efriged OF an important consumption By 1
70 Z ropean war. England, France aud i
iermany rushed their iabgios here, knowing /
9 would bay, whether they were needed OF
Of. And every steamer, for Elk mouths |