The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-12-18
STARTLING EXHIBIT !
Our Total Exports Fall Nearly
$2OO,OOO,OO Short of Paving
the Interest Due on Our
Foreign Debt.
WHAT THE DEMONETIZATIO
OF SILVER HAS COST US.
The Nation Practically Bankrupt
How Affected by the Appreci.
alton of Gold.

hoW AHSSUeO Dy the Apprec1.
alton of Gold.
philadelphia American.)
Taking our foreign debt at s., ,0O0.-
100000, and the interest charge at 4 per
cent, we have payments to make
abroad Of $2)O,0OO.OOO per annum on
account of interest alone. Add to
this freights paid foreign ship owners,
and the expenditures Of Americans
travelling and living abroad, and the
sum of our foreign annual payments
is appalling. Even our great mer-
chandiSe balances Of the last few,
years. together with large exports of
gold and silver, have not proven suffi-
clent to meet the payments on &C
count Of our foreign debt in addition
to other charges against the United
States, and consequently our debt has
gone and goes on increasing, at an &C
celerated pace from year to year, as
interest is added to interest charge.
For the year ending June 30th. 1894,
the account against the United Sta tes
stood approximately as follows:
AGAINST THE UNITED STATES, 1894.
Interest at per cent, on $o000,-
900 ......... ............ 49,. 5000, 900, 900
Freights paid foreign ship own
ers for carriage of S0.6 per cent
of our import trade, or $504,-
100000 out of total of $685.
600, 900, allowing a charge for
transportation equal to per
cent of the value of produce
imported ~. ...... 4O,92O, 900
Less freightS paid American
ship owners for carriage of 81
per cent of our exports or
$74 ,000 900 our of $S43, 900, 900,
allowing a charge for freight
equal to II per cent of the
value Of the produce exported. $3.50, 900
Balance due foreign ship own
on ocean carriage, calling
for export of gold or merchan-
disc in settlement. t......... 81, ,440, 900
Expenditures of Americans
travelling or living abroad.... $4,000, 900
Total account against the
United States. ............ $306, ,440, 900
ACCOUNT IN FAVOR OF THE UNIT
ED STATES.
Domestic exports .............. 1858, 204, ,937
Foreign exports ................ 22,935, ,635
Total exports ................. 1892. lac, ,572
Less total imports .............. 654. 1894, ,622
Merchandise in favor of the
United States ......... $237 ,14o, $50
Net exports of gold. 4.52S,942
Net exports Of silver. r............ 37,164,713
Total account in favor of the
United States .............. $218, 1883, sos
Po1 nd
Thus despite our enormous excess of
exports our debt grew by s27000,000.
The picture for the last fiscal year is still
worse:
ACCOUNT AGAINST THE UNITED
STATES, 1895.
Interest at per cent on $5,OOO.-
0O0, ,000.O 900 ........ 5000, 900, 900
Freight paid foreign ship own
erS for carriage of S4.5 per
cent of our imports, or $780,
900 out of a total of $685.
100000 allowing a charge for
transportation equal to per
cent of the value of produce
imported ....... ........... 47,2OO,OOO
Less freights paid American
ship owners for carriage Of 80
per cent of our exports, or
$62 100000 out of $75S.000, 900,
allowing charges for freight
equal to II per cent of the
value of the produce exported. 7,440,000
Balance due foreign ship own
ers on ocean carriage. $39, 760, 900
Expenditures of Americans
travelling or living abroad. -. $4,000, 900
Total account against the
United States .............. .$314. 100000
ACCOUNT IN FAVOR OF THE UNIT
ED STATES
Domestic exports .............. .s79G, ,392. .599
Foreign exports ................ 14,145, ,566
Total exports ................. sSO7, ,53S, 165
Less total imports. ts............ s731 1863, 965
Merchandise balance in favor of
the United States. ........ SIS, SOS, 200
Net gold exports. 81, ,9S4, ,449
Net exports of silver coin and
bullion ......... ............. 1854, ,797
Less imports of silver ore, not
included for 1895 in the general
statement of merchandise eX-
ports and imports as prior to
1894 ............ ............... TO- 636 S96
s27, ,O37, ,9O1
Total account in favor of the
United States S.............. .S1S4 $50. $50
Balance due and unpaid. -. $780, 169 45O
Thus for the last fiscal year we
added $1S0,O00, 600 to our debt, and on
this additional debt interest must be
II Co l,2