The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-03
THE QUOTATION WAS ACCURATE.

Judge Rober. w. Hughes has Written us
the following letter:
Editor Of The Times: take the liberty
of noticing an expression in an editorial
column Of Sundays Times. Speaking OF
quotation from the New York journal
Of Con merce, of January 2S. 1SlS, which
/ made in the paper you were kind enough
on that day 20 publish, a quotation giving
gloomy view of our foreign trade Tor
the calendar year 1892, Sundays Times
says in substance: I'VE are not able
TO verify this quotation, and feel sure
that Judge Hughes must have taken it
at second hand and been imposed upon"
send to a friend in Richmcnd the
original article itself. from which you
will perceive that my quotation of it was
accurate. You may depend upon il that
Mr.. Stones statement OF the results of
our foreign trade for the calendar year
1892 are substantially correct Your own
figures for that year are contradicted
by the extraordinary shipments Of specie
that have been going on so continually
and are still far from desisting.
IL won't do 10 say that so competent
and experienced n man as Mr.. Stone, OF
the journal Of Commerce, cannot make
up by the Ed OF January Of any year a
foreign commerce OF this country for the
previous calendar year. 1t is just as
practicable for a competent statisucian
TO make up late in January such state
ment for the calendar year preceding as it
IS. late in July. TO make up one for the
previous official year ending on the s0th
OF June.
i viii not enter into any controversy
with The Times in regard TO the accuracy
OF Mr.. stones statements; they are over
whelmingiy indicated by the commercial
sequences. Indeed. l hope l have discre-
ton enough TO avoid controversies with
all editors on all subjects and all sorts
OF subjects. Yours most respectfully.
ROBERT w. HUGHES.
Abingdon. July 81 1898.
We have compared the quotation with
the original article. and II is undoubtedly
n correct quotation except in respect to
the last two lines. In Judge Hughes
quotation these read: "The nominal bal
ance Of trade on the years business has
fallen off millions OF specie" These words
were used I'm another part OF the article
IN another connection. and were. 'rhe
nominal balance OF trade on the years
business has fallen of fifty million dol
lars" Judge Hughes writes us a private
note 20 say that these lines got attached
TO his quotation by an accident. but it
should be noted that the language is nifty
millions OF dollars" and not millions Of
specie" which may be a matter Of no
moment, but it is always best to be ae-
curate.
On reading the whole Of the Journal OF
Commerces article we find that II treats
OF twelve months ending December Gil.
1897. and not of the fiscal year ending
June 30. 1892 We have not the material
at hand by which we can verify or con-
tradict its statements OF the condition
OF our foreign trade on that day. But
IN, differences which Judge Hughes draws
from It's statements respecting the general
condition OF our foreign trade then. before
and since. are wholly contradicted by the
facts. He says In his Sunday article:
Gold having disasiiously risen, property
values being in ruin, our foreigr COM
m,rce being. crippled by adverse balances
ana our exports powcrless to rectify
them; the question behind ali these phe-
nomena recurs, how did this state OF
things come about?
We now know the figures Of our foreign
trade exactly for the year ending June
%, 1888 and there is no sort OF room for
CONJECTURE or doubt about them. They
Rave been officially promulgated bv the
Bureau o. Statistics. We quote from the
Financial Chronicle of July p. 1898, page
~ ~e's giving our exports and I'm