The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-07-13
DAILY JOURNAL
WEDNESDAY, JULY 10, 1870.
The Foreign Trade or the United
States.

The following letter. written to A.
Il. Stewart, Esq, of New York. by
the late Special Commissioner of Rev
enue, before his retirement from of
flee, has been received by US for pub
lication:
TREASURY DEPARTMENT,
OFFICE SPECIAL Co8I'R REyESUE.
WASHINGTON, June q, 1901
SIR: I have the honor to acknowl-
edge the receipt of your note of the
23d, making inquiry as to the truth of
a statement that the total gold value
of the exports of the United States
for the first nine months of the cur
rent fiscal year was in excess of the
total gold value of the Imports for
the same period" and in response l
would say that the statement in ques-
ton is not correct; although it is
true that the national balance OF
trade on the merchandise account is
much more favorable than it was dur
ing the corresponding period Of the
fiscal year 1868 SO.
The Approximate figures of the ex-
port and import trade of the country
for the first ten months of the present
fiscal year. 4. e. to May 1, 1870, tt e
movement Of specie and bullion be-
ing omitted. are as follows:
Imports of merchandise, goII
ValueS..s........--- sSc0S 4lO,10l
Exports and re-exports, gold val
uesa.-.'.......'.... $50 SOo Sl4
Excess of imports..................... s2766 6S7
RoHDED WAREHOUSE ACCOUNT.
Foreign MERCHANDISE in bond
June 30, S62 436
Foreign merehandise in bond
April 50. is7O-.-........-. e5,74S,694
Rsduction..... 67O8 7I2
ADvRRsE BALANCE, TEN MONTHS. 1869-70.
Excess of direct imports...,....... s27. .669, ,R37
Reduction OF goods In bond..-.--... 6,79S,745
Adverse balance or merchandise
account, 8697O..........-.........s s34, ,S7S, ,379
MOVEMENTS OF SPECIE AND BULLION.
Exports (domeS ic) c)................. s3, ,776. .73l
Re-exports tforeign)~ 12,4SS, ,O26
Total. s4 200 7
Imports Zo,z40sS44
Less specie or 81, ,93s, ,7SS
IF we suppose the excess of specie
and bullion exports to have been de-
voted exclusively to the liquidation of
balances incurred on the merchandise
account, the remaining balance on
this account to be settled for in some
other manner, for the first ten months
Of the fiscal year, 1869 20. } would be
$12, Az 500. Nor the remaining two
months Of the fiscal year, 1869e70, the
accounts are of course incomplete; |;
but enough is known to make it Ger.
tain that the adverse balance, as above
exhibited. will be materially increased
on both the merchandise and bullion
accounts.
The annual indebtedness on ac-
count of the interest on Federal and
other securities held abroad, and for
freights earned in foreign bottoms
which last expenditure the President
of the United States regards as 80
much money cast into the sea, (see
his message on decline of American
commerce )-is further known to have
considerably increased during the
past year. Thus, while during the
nine months. ending March 31st, 1870,
the increase of foreign tonnage enter
ing the ports Of the United States was
408. .O16 tons in excess of the entrance
for the corresponding period the pre-
vious year, the increase of American
tonnage ent9red during the same
period. amounted to only 8, 146 tons.
Taking these facts into eonsidera-
tion the balance of Indebtedness
of the United States to foreign
countries for the fiscal year ending
June 30.h, 1870, will aggregate ap-
proximately as follows.
aceoont... ....-,~ .......... s45, ,OCO,e COO
M 49, SO COO OOC
eign bottoms......... 80 49, $4,000 COO
foIeign 25 600. COZ
Tota 1882 600, Coz
Towards the settlement of this in
| debtedness there has been a net ex-
port of specie and bullion for the
first ten months of the present yeal
| 196Q-70 40 alreadv shown IN the ex