The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-06-22


JOHN D. CALDWELL. Secretary.
COMMERCIAL STATISTICS "A synopsis
of his forthcoming monthly report, fur
nished by the Chief OF the Bureau of
tifylng as it is interesting. During the
our imports of merchandise, specie and
bullion amounted in round numbers to
1888. 900. 900, and our domestic exports
to S274. 100000. For the corresponding
period of 1S70-71, the former amounted
to $279, 900, 900, and the latter to $275,-
100000. Thus the balance of trade
foots up $50, 600, 600 against MS for the
more recent period as against 81, 900, 600
only for the corresponding part of the
previous year. In other words, the debit
balance has been multiplied by fourteen
and fraction in twelve months. On
the other hand, our expectations of the
precious metals in the form of specie
and bullion for the seven months ended
January 81. 1872, were S2l, 900, 600 in
excess of importntions of the same,
while for like period of 1901 the
| excess of expectations over importations
was S35, 900, ,00O-a gain of $14, 900, 900.
But it is evident that this apparent in
congruity between the relative income
and outgo of goods and money in the
two years would be IN impossible ano-
maIy, even were we to exclude American
stocks. The corporation and Govern
ment bonds sold or on sale in Europe
formed a basis of exchange, which dis
pensed with extensive movements of
precious metal. Ibis does not help our
condition. however. for every bond sold
or hypothecated in Europe is a mort
gage upon American industry.
The value of the tonnage Transported
in American vessels in the seven months
ended January 81, 1872. was, in round
numbers, 1882, 900, 600; in foreign ves-
sells, S454, 100000. For the correspond
ing period of 1901 the value OF Ame-
rican tonnage was $1s3, 600, 900; foreign
tonnage, 1895, 600, 900. Thus, for se ven
months Of 1871-72, seventy one per cent.
OF the value of our foreign trade was
carried on in foreign vessels. against
sixty eight per cent for the correspond.
ing portion of 1901, being loss of
three per cent. in twelve months. Or
the tonnage entered and cleared at Ame-
rican ports during the same months.
ended January 81, 1872, foreign vessels
had a preponderance over American of
upwards of 5000, 900 tons. as against
about 1000, 600 tons for the correspond
ing period of 1901. That is, it would
require full years service of ten ocean
steamers of the largest class to transport
the overplus Of tonnage on foreign as
contrRsted with American bottoms.
Since our importations greatly exceed
our expectations, it may be readily sur
missed that we pay heavier freights. mas
much as ship-owners cannot rely on full
outgoing oargoes.
These statistics show how effectually
tho high tariffs which protect our indus
tries from the outside world, also protect
tho outside world from our industries.
But the saddest lesson they teach is that
the fatal commercial policy of Radicalism
has degraded us from the first rank
among maritime nations to position of
insigniGcance and dependence. In 1860
our sea-going tonnage afoat was equal
to that of all the nations of the world
combined, with one exception. Even
the present eclipsed condition of our
merchant marine is not stationary, for
we can behold it melting away month
by month with such uniform steadiness
as if it were obeying the DEGREES of Pro-
vidence. Yet there is not q more i'm
portant interest in all the departments of
business and political economy.
Louisville Courier journal.
The New York correspondent OF the
Philadelphia Ledger says: "The news
from Charleston, that Cuban privateer
is off that port, creates no surprise here,
where the circumstances of her fitting
out are we'll known in certain orioles.