The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1911-06-19
UNITED STATES
TO OLD WORLD.
Amount Larger Than Total
OF Gold and Silver Coined
In the Minis

"HlS country must Of ne eSsity
n have balance cf trade. III its
U favor OF S2!p.0o9ti00 to keep
pace With governmental ey.
penditures, During the Two years last
past il has been demonstrated us ma
ton we are spending more than we
| have earned. We must. therefore. pay
| large amount OF interest to other ma
tons upon money we have borrowed
| Travellers spend great sums abroad
The maintenance Of our navy In for
| eign waters costs large sums Of money.
AT least Sl50,oo0.0oO n year Is sent ont
| of the country by citizens and resi-
dents who contribute TO relatives and
friends In the land OF their BIRTH
These figures do not appear in the Gus
tom house returns From Recent
| Speech by Governor John 4. Dix OF
| New York.
| The facts indicate that Governor Dix
| has underestimate the drain on the
| United States through money spent or
| sent abroad. For Il number of REASONS
| ii is impossible to do more than ap-
| proximately estimate the enormous ex
| tent Of this drain on Americas active
| financial capital.
A combination of calculations based
| on immigration and postal statistics
| and on the observations of bankers
and express and steamship OFT lals
| shows the following approximations as
| TO the extent TO which American dot
lars take wings and 6y away from
| their native country every year;
| Sent abroad ............,........... $S91J0.e
Carried abroad .................... i3V.oVjuI
Total ."........................ s2c5.00Qo@
This may be nn underestimate Of
$50, 100000 to $loo,O0o.tUo for reasons
stated later
This yearly drain Of American mon
ey abroad very greatly exceeds the q
tai amount of gold ana silver coined
this country In a year. as is shUwu by
the following figures taken from lEp
official report of the treasury drp4rt
ment at Washington:
lSUU l5lu.
Gold coined ............ s9s. 27S oe9 S38,779g1t
silver coined ........... 80 3i5,0Q0 S,Jeo,sA
The drain just about offsets ali The
United States notes In circulation IL
exceeds the total customs receipts,
and it is more than twice as great as
the total gold and silver production OF
the country, which In 1910 amounted
to S127 .242, 900, of which $685. yJu
was In gold
Money That Never Comes Back
The constant outflow of money from
the United States-the greatest out
flow of the kind in human history
has been widely discussed IN aud ou,
of congress. and many remedies have
been proposed for what is generally
called the country's vast loss OF pro.
ductive capital.
. Practically none of the money sent
abroad by immigrants to their reia-
tives. 1t is asserted. comes back to
America In any shape whatever I'll
Is used abroad for the support OF the
immigrants relatives and then finds
its way into the commercial and In
dustrial development of foreign coui
tries.
Investigations In Europe by Marcus
Braun and other agents of the United
States government have shown that
the hundreds of millions of American
dollars sent or carried to Europe by
American aliens have wrought won
derful changes In the national pros
perity Of hundreds Of communities IN
all Of the great continental countries
Italy, Hungary, the Polish provinces
of Russia and Prussia. Germany, Den 4
mark, Holland. Sweden and Norway
England and Ireland.
1t Is contended by many who have
written and spoken on the subject |
that, as pointed out by Governor Dix,
the money sent abroad and not used
there for the purchase of goods which
are to be sent here is a dead loss to
America. 1t has been many times
said that a dollar will buy $685. worth
of things In the course Of year. The
argument Is that every dollar that |
goes abroad leaves the people of the
United States with $685. less of cash
purchasing power.
On that theory the 1896. 100000 that |
last year went abroad took out OF this
country more than ,00o.O00.0O0 OF
productive cash capital. While the
figures differ on this point, there has
been a general public agreement by
those who have discussed the subject 1
that the United States Is seriously
handicapped In its financial develop
ment by the constant drain Of cash
for which no return is received In
goods.
Parallel Case In a Nutshell.
When a railroad pays s20.O00000 In
wages for its construction" said o
congressman in a recent debate. III
expects to get back part of the money
in fares or In some other shape. What
1t does not get back goes into the cir
culation Of the community and bright
ems things up all around 1t bnya
homes. education and luxuries for the
workingmen. SO long as that money
stays in circulation here it is doing