The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-08-10
Imports. | i
Years.

1873 4J3 IS1, hui J33,UDD, 43b IL, lDS,bll
1876 525 542 247I 4G0,741 1901 Ia, ,4N
1877 .. $50 $40 PA 45l,323,126I 12,8o4,99G
1878 ... $50 GB3 1881 437.O51 ,533i 14,20O.4O2
During the last decade the increase Of ex-
ports of domestic produce has been $4tt $685.
$685. or 1913 per cent, while the increase Of i'm
ports has been only $79,G15,093, Or barely %
per cent In 1868 the value Of imports greatly
exceeded that Of exports; In 1869 the imports
largely increased while the exports fell off,
owing to the failure Of the cotton crop; in
1870 the increase of exports was larger than
In the year just ended, yet they were still
| much less than the imports. In 1874, for the
first time in many years the exports exceeded
the imports by small margin, but in the
following year they fell behind again; but
during the past two years the exports have
been largely in excess. From 1868 to 1873 the
imports nearly doubled, but since they have
fallen off over 81 per cent, while, with the ex-
ception of the years 1875 and 1876, the exports
have steadily increased
It Is very hard indeed in the face Of this
showing, to understand the financial depres-
sion with which the country has 50 long been
oppressed, involving disaster alike to the
working classes from loss of emplOym ent and
decrease Of wages and to those capitalists
whose money was invested in real estate and
Industrial enterprises from the shrinkage in
values. What actual distress exists in our
country among the producing classes, COM
pretending in this category both the workers
and those capitalists whose money Is repre-
sented in actual values, whether in real estate
or capital In trade, and yet that the country
should all along be growing richer, is q fear
fuI testimony of the suicidal folly, corruption
and wickedness Of Republican rule. When we
examine the aggregates we find that the
country Is more prosperous now than 1t has
ever been; but from these aggregates we
quickly descend to details OF unparalleled
want and stringency. Into whose pockets
have gone all the results Of the wonderful
recuperatlve powers of the country? Into
the hands of those who have developed them,
the workers and those whose means are in
vested in such enterprises as go to develop
the actual resources of the country, and to
whom Is due this advancement Not at all
We will allow the New York Times, the great
est Of all the Republican papers, the ablest
| and staunchest organ Of the Eastern capital
lists and bondholders, those barnacles and
parasites on American industry, whose grip it
seems impossible to loosen, to answer the
question. After q careful revision of the con-
| dition OF our foreign trade and due allowance
for discrepancies on all sides, the Times fixes
the balance of trade in our favor at $50O0O0,-
900, and then it goes on to tell lis where this
immense surplus has gone, and to whose
benefit it has accrued. Says the Times:
It Is pertinent to inquire, What disposition
| 81
commencement of the period under review
the foreign Indebtedness of the United States
was estimated, by the authority already re-
| ferred to, at about $1,000, 100000, the assumed
| interest on which was about $72,000O00 re-
duction in the amount during the last two
years has, perhaps, reduced the average in
terest charge to $50 000, 900 year.
| We have now the following items:
Trade balance during five years.. s492. 852. 5o7
Freight on exports earned by United
| States ship-Owners. ...--..-....- 52,874,457
Expended for interest. $500. 600, 900
Expended by United
| States citiZens abroad
| In excess of the sum
brought by alien pas
| Leaving the sum Of. .......-.... s22o, 726. 1854
| Which has been invested In bonds and other
securities, previously held in Europe, and
of the United States-natiOnal, State, NUM-
cipal and railway-to less than 81 000,000,00O
Here it Is In plain words-the whole re-
sources Of the country, resources which have
developed an increase in our products Of one
hundred and tifty-three per cent in ten years
have all gone to increase the wealth Of the
holders of our bonded debt, and the only effect
of our marvellous recuperatiOn has been tC
bring these bonds to America from Europe
where they had been previously held. The
producers, the workers in the fields and fac
!, tories, and those men whose capital assisted
to give the people work, have reaped none O
the advantages which are due to them alone
There must be something radically wrong il
the political economy of a State that keeps il
existence such a vampire as this bonded debt
which eats up the substance of country sc
productive as the statistics show this to be-
There must be a remedy for this unnatura
condition Of affairs. It makes but little diff
ference II the productive energies of our coun
try pay $50, 000,0 900 OF interest yearly to a SET
of drones at home, or whether this tribute
goes abroad. Those to whom it is paid con
| tribute nothing In either case to the develop
i ment of our resources, nothing to the support
| OF our industries, and they ENJOY exemption