The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-08-13
1VEBTCAN FOREIGN COMMERCE.

AMERICAN FOREIGN COMHbhOb'
Ttrr abstract of the statistics of commerce
and navigation for the last fiscal year, ending
on the 3Oth of June, 1869, which has recently
been prepared by the Treasury Department,
oives an interesting insight into the character
of the foreign commerce of this country AS
contrasted with the previous year, there is
Iaroe increase of imports, amounting to
$50. 600. 600, and a decrease Of exports,
amounting to more than $40, 100000 This
decrease. however, is made up exclusively OF
the diminished expectation of gold; the
amount of merchandise, at specie values, eX-
ported in 1SGS-G9 being greater than the
amount of merchandise exported the previous
year. The most plausible explanation of the
decreased export of gold, accompanied by an
axcass of imports, is that American bonds
have been freely accepted for European
Goods. and that an unusually large addition
to the amount of American Indebtedness
held abroad has thus been made.
Cotton has regained its complete ascend
ancv in the list of American exports. The
value of the upland and Sea Island sent
abroad exceeded S162, 100000, and there were
besides exports of manufactures OF cotton
valued at nearly six millions. Notwithstand-
ing the diminution in the quantity Of this
GREAT Southern staple, the revenue it yielded
to the successful planters last year was rarely
exceeded by the receipts previous to the war,
and the fact that the cotton interest OF the ma
ton can flourish under free labor system is
now fully demonstrated.
In the list of exports, gold and silver coin
and bullion hold the second rank. Notwith-
standing the large reduction, as compared
with the previous year, the aggregate still
exceeds So, 200, 900. This is far too large
sum for nation which wishes to resume
specie payments to send abroad, but still it
shows, in connection with the previous sta
tistics, that the tide has turned, and also in
dicates that the exports fell far below the
gold and silver product of the year.
The next export on the list in value is
petroleum, the crude and refined being worth
more than $50, 100000. 1t seems almost in
credible that an article unknown to our COM
merce but a few years ago should now fur
nish such an immense basis for foreign and
domestic trade, and Pennsylvania has good
cause for congratulating herself upon the
ueNelOpueuJ WlIulu ueI pOIuSIS VI SuCu Il
fruitful source of wealth
The next article in importance was wheat,
valued at $24, ,349 G3S, and if the value of
wheat -four was added (S1S, 81, ,445), even
petroleum would be thrown in the shade. The
exports of wheat and corn, however, were of
considerably less value than those of the pre-
vious year, but in 1SG9-7O the wheat exports
will, from present Indications, again reach a
large aggregate.
Tobacco stands fourth on the list of exports,
the value of the leaf and manufactured
amounting to more than S23, ,OOO,O OOO This
export could be materially increased by an
enlarged product of neglected Southern plan
tations, and it no doubt will be when the
Southern industrial system is thoroughly re-
organized.
The next item Of Importance is provisions.
If we rank under this general head beef,
cheese, hams and bacon, lard, pork, and tai
low, the aggregate amounts to more than
500, 600 600. In view of the immense extent
~, of our agricultural domain, it would seem to
be an easy task to not only make such an in
crease of the products as would greatly
cheaper the prices now paid by American
consumers, but to also supply an immense
foreign demand. AS it is the value of all
the provisions sent abroad forms but trihiug
aggregate when compared with the sums
which Philadelphians alone annually expend
for food.
A foreign market is found for few of ora
manufactures, but the whole bulk of exports
of this description is lamentably small and ii
requires a marvellous display of American
ingenuity to manufacture fabric that can be
sold in the nations that deluge US with their
manufactured goods.
The old character of our commerce has been
materially modified, but it is not yet thor
oughly reformed. We still send abroad food
or raw materials, and receive in return many
manufactures. A considerable portion of our
imports however, consists of articles which
we are not at present prepared to produce
Sugar heads the list, with an aggregate ex.
ceeding $50, 900, 900, and this is exclusive OF
molasses valued at nearly Sl2, 900, OOO Surely
the Southern plantations could be so managed
as to avoid a large portion of this enormous
drain. If they are not, the sugar-beet pro
ject should speedily be pushed forward will
unhagging zeal and energy. The imports o
coffee were valued at nearly S25, ,OOO,O anC
the imports of tea at $1,000, 326, so tina
more than one-fourth of our imports consiste
of four articles of food-sugar, molasses, tea
and coffee.
Silks also occupy high rank among on
imports, and though there are still larg
quantities of manufactures of iron and WOO