New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-04-20
PEDEENTNG FIXTURES or THE HIRD
THIN

TTHFS
At the present period the aggregate volume
of the foreign trade OF the United States il
less than il has been since 1871, with no i'm
mediate prospect of recovery. Nevertheless,
the situation is not destitute of redeemng
features, of which we may specify the follow
ing:
/. In the fiscal year 1872 the value OF our
imports, as reckoned at the custom houses
exceeded the gold value Of the exports, count
ing merchandise only, by no less sum than
1882. ,49l. In the year ended June 80,
1874. the value of the exports exceeded that
of the imports by SlS,995,747, and for the
current year the excess OF exports Will
be even greater. We are well aware
that such revolution in our foreign
trade is largely the result of financial
distress, and yet we think it is SOLITARY
change. Everybody knows that individuals
can carry borrowing 20 excess, and so can the
aggregate of individuals constituting Il nation.
We believe the United States have been Dor
rowing too much of Foreigners. What we have
borrowed, except that portion of the debt which
arose from commissions, discounts, and profits
of valiOIts kinds accruing To foreigners, MUST
have come 10 us in the shape OF merchandise
imported, for which 10 merchandise was ex-
ported in return. We received it in The shape
Of railroad iron, silks wOOlcns, cotton goods,
wines, diamonds, and other commodities. Now,
il We are not actually paying the reckoning,
we are certainly getting two hundred million
dollars year more To the credit side OF our
account than we had there three years ago.
9. Though we have caitailed our purchases
OF foreign goods round hundtcd million dol
lars year since 1872. not u dollar OF the
reduction il due tn diminished consumption OF
ten, coffee and sugar. The fact that we have
not diminished the imporiations of these ari-
cles proves that the bulk of our farmers,
laborers aud mechanics are by no means i'll
ntligtn circumstances.
3. The imported articles showing Che greatest
decline are manufactures OF iron and steel, of
which we arc now receiving from abroad barely
one-hird the quantity we did in 1872. In
soine important kind, of iron work our exports
arr now nearly as large as the imports.
4. The falling of in the imports of cotton,
woo'cn, silk and linen goods, 80 far rs il has
nat been caused by our own manufactures
taking The place Of the foreign, il Il measure
of the economy now practced by the people Ill
TIE consumption of dry goods generally. Oar
people, in town and country, hayo of late years
falltn into rather cX.rdva2ant habits in the
matter of dress, and a little self deoial for %
biicf Interval in this particular will be very
beneficial.
>. We have no hesitation in admitting that
\ good share Of the Improvement In exports
and decline in imports is dIo to inability to
buy and pressure TO scll--in short, to the hard
times. We ale now selling moro of our own
manufactures 10 foreigners than We have done
at any limo since the war. The value Of our
exports OF iron and steel il now from twelve
10 6ileen million dollars year. Our eK-
polt, Of cotton good, are double what
tllcy we've in 1872. For tho fist three