Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1893-07-10

| fQOT0 Uudu OuI dA0 UuO OdI
ance in our favor, amounting to 1902,
600, 900, was paid from across the wa
ter. Within the last five months q
very different state of affairs as ex
listed The imports into the United
States have been 500, 1876, 491 in excess
of our exports. Those have been the
balance of trade against us, and in
payment of which over $50, 000,0 600 OF
gold have been shipped to Europe.
The balance of trade must be paid in
gold, whether there is Sherman sill
yer bill or not.
The question arises, why have the
imports been so large and SO much in
excess of the exports, and the conse-
quent heavy balance of trade against
us in five months of 500, 0O0, 900? For
one or two years there have been Sc
rious financial troubles in all the coun-
tries Of the globe, except in North
America. In the Argentine Republic
and Australia there have been great
failures and bankruptcy, and in all the
colonies of Great Britain there is stag
nation of trade.
Consequently there has been very
remarkable falling off in the export
trade of Great Britain to these and
other countries The decrease in the
export trade Of Great Britain in 1892
was $50, ZOO, 600 less than in 1890. This
does not include the average annual
increase in her export trade, which
has been about s77, 900, OOO This I'M
precedented decrease in products,
mostly manufactured, was left at home
in the hands of manufacturers. They
were in great financial distress, as
they had their obligations to meet,
and they were compelled to secure a
market for these products. There was
but one market left to them, which
was the United States, as we were the
only prosperous people on the globe.
Stagnation in business and financial
troubles existed almost everywhere
else. These goods have been thrust
upon the American Market at small
margins Or none at all, in order to
realize upon them. Consequently,
within the past five months the i'm
ports have exceeded the exports about
$96, 600, 900, and these balances have
had to be met, together with other
balances of interest, etc., by gold and
by our exports. This, it occurs to me,
is the common sense explanation of
exports of gold.
This is no defence of the Sherman
bill, which must stand on it's own
merits Or dement's. There can be no
wisdom on the part of the Government
in buying silver and storing it away.
can be explained on very different
grounds.
The basis of all credit is confidence |
in the Government, it's policies and
That confidence is want
ing at this time and in the present
There is much appre-
hension as to the financial legislation |
of the next Congress.
1t is also an open secret that the |
bankers of this country have little or
ment of the Treasury. The course |
thus far pursued has been SO vacillat- |
ing and uncertain as constantly to |
awaken apprehension. Again, the |
are unwilling to en-
large their business, undertake any |
new enterprises or increase their
products beyond immediate demands,
because of the threatened tariff legis-
alton. This uncertainty as to fnan-
,ial measures and tariff legislation has
caused this apprehension that exists
n all business circles, restraining in
7estments, and producing stringency I
n money markets and stringency
n values. = Home Market Bulletin.
Mr.. Editor, = Having recently taken
L journey to the ''Windy'' city beside
Lake Michigan, possibly brief jott
ng will be of interest to your many
leaders. I left Albany, June 27, taking
he cars at Morrisville. Our train was
3uite rapid one and it was only a
short time before old Mansfield and
he Green Mountains receded from
light and we started across the COM
,aratively level country of Northern
Jew York. To one who has always
esided in a mountain state it is a
lovel sight, if not a sensation, to pass