The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-11-20
Report Of tho Bureau or Statistics ON
Commerce and Navigation.

| Report Of tho Bureau or Statistics ON
Commences and Navigation.
! The report on the commerce and navigation
Of the country issued by the Bureau Of
| Statistics at Washington, which we published
yesterday, shows an Improvement in the
balance Of trade during the eight months end
ing August 81, 1870, over the corresponding
period Of last year. The imports for the eight
months Of the last year amounted to $50, 4l2,-
26S over the exports, while for the same time
during the present year the excess OF imports
over exports was only 80, 10000. This is
vast difference, though the balance still remains
against us. But we must not lose sight of the
fact that gold and silver coin and bullion are
reckoncd as commodities Of export in this
estimate. Out of the 1901, $50, 36G exports
$50, 979, 240 were gold and silver. Against
this, however, there was imported in gold and
silver $l3, 2S3,Sl7. The total drain of specie
for the eight months, therefore, was $37, $685.,
423. Calculating the same rate of specie
export throughout the year the amount
would be $50, 5i3, 1874, which is, probably,
near about the annual production Of the pre-
cious metals in this country. But it mi sht be
asked how the large sum Of over eighty mil
lions for imports over exports, including specie
as an article Of export, last year, was paid. It
was paid chiefly by our bonds sent abroad.
We have great deal to do before our exports
of commodities, exclusive of specie, approach
the value of imports.
In glancing at the articles, and the value Of
them imported and exported, we see that the
way is open to US to limit our imports and
toiacrease our exports. OF the 1901, $50, $3.50
exports, raw cotton alone amounts to
1852, 526, l8l, or more than half the whole.
The production and export Of this most valu-
able commodity could be, and no doubt will
be, increased. Tobacco also, the export Of
which for the eight months amounted to
$l1, ,642, might receive an increase of
production Cor expectation, the same as cotton,
with the progress of development in the
Southern States. Wheat, flour and corn, too,
which are regular anl large exports, will
have an increased demand for them as our
comm cree extends and as the facilities for trans
portation become greater. There are, however,
several foreign commodities imported, which
cost US annually a very large sum, that might
become American products. Sugar and
molasses, for example, amounting to eighty
millions or more year, could be produced by
United States and if we were to
turn our attention to producing beet
root sugar. Coffee also, which costs us near
thirty millions year, would be our own pro-
duct if we had, as we ought to have, possess
sions in the West Indies. The country has
arrived at that position and the time has come
when we ought to increase the variety of our
products SO as to make us more Independent
of the rest OF the world and to give us more
articles to export. But there is another
matter, and by no means the least to be lost
sight of in considering the means for turning
the balance Of trade in our favor. That is the
carrying trade. Foreign ships now carry of
the cream of the profits IN our own trade.
The foreign tonnage employed in commerce
with this country Is to ours as about five to
three, whereas we had few years ago and
ought to have now the largest tonnage. Con-
gress should do something at once to increase
our shipping and TO give us much more Of the
profits of the carrying trade. This would
tend greatly to bring the balance in our favor
and to check the large and constant drain Of
specie. The country is now in position to
bound forward in unexampled prosperity if
the government has sense enough to under
stand that and will act wisely.