Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1860-06-07
Brltash Balance of Trade.

The following table, contained in Backwoods Ma
pazne, and compled from the official returns Of the
British government gives the balance of exports and
imports for that country during the four years 1854
mes of Exports and Imports I8547:
--ExpOrts, Declared Value-
Rea! val. mapnfacS merehdse. expts. England
1874 97sl72e 1855 ace lss2i Osa So So ss1
iS55 $50 956S8085 OO3 25 l6 69l 800
1857 1856 l22 l5537 23S5S 765 las A. 1888
Balance against England in four wears IS s. GAS
We present this table for The OBLIGATION of those
friends of protection who ever and anon decaiminr
AGAINST the danger to this country of what 1hev deem an
adverse balance of its trade 1t asserted that one of
the worst results of the free trade policy is to encour
ace such an excess of imports exports as seriously
drains the country OF It's money capital thereby creating
high rates of interest and generally embarrassing the
commerce Of the nation. We have reneatedlv Shown
that in the first place the adoption of Tree trade has NOT
ordinarily brought about that result and in the next
that an of imports over exports does not necessa
ry produce enlarged shipments OF sIece bpt that in
many years of our national commerce the Specie exnorts
have been ightest when have had large adverse
balance OF trade Were this theory correct if mnst
long ago have evnced its truth in compee abstrac-
ton of specie from England for it is habtna with that
country to have an excess Of imports EXPORTS of
from $50 to 200 million of dollars per anuum. For the
four years enumerated in the table the balance Il trade
against England amounts to Gl38 1872 645 M it is
perfectly clear that it, prOtectiOuiss assert this Amount
had to be paid out in hard specie, the circulating red
of the country would have been completely exhaust
ed ami the people left without any cash capital which
to transact business. The mere statement of such an
absurdity is its relutatiOn. SO far from such
having been the result, the specie Of the coua-
try has in the meantime been steadily aCcumula,
ting, and money has been for long period at two
per cent. The fact is that instead of this balance
Ot n hat fry
it rather represents the actual gain made upon its tran
saCtlOns 1t IS amazing that commercial men, accuS-
toned to the constant balancing OF trading accounts
should be led into such absurd blunders matters 30
simple. When a large class of traders, holding princ
pies so contradictory of the experience of every day
trade cOmbinedy aspire to the control of the national
finances is the at present with the protectonsts
of this country it is time they given to understand
that they must submit to further pupage before they
can be allowed to assume such an important trust
The question whether protection or free trade shall
direct the commercial policy Of the United States pos
at the present time much greater Importance than
is generally supposed The trade and the industries OF
the country just in the most important crisis of
their formative condition They capable of receiving
vast impulse or a damage that will throw them back
mmeasurably, according to the kind of treatment given
them by our legislators. system of tinkering egsla
ton is unsuited to the youthful vigOr Of commercial
interest what is needed the fresh air and the free
tiviies Of untrammcled foreign intercourse. 1t will
not do to smother the young giant Of American COM
merce in the swaddIing bands OF careful egsla
ton however much the old nurses Of proteconism may
depreciate the allowance of too much freedom" No
greater evil could possibly beta than for
its control to pass into the hands Of those who would
guate it by the osssed ideas represented by the Tariff
Bill now before the Senate. The free trade party OF the
country however, need fear such danger ii they but
stand firmly and watchuy by their principles Let then
not 90 to sleep upon false sense Of security, they
may awake to find that their opponents have stolen
march upon them.