Dudley.J 5^0 [Oct. 1, 



Making the total imports for the United Kingdom more than the total ex- 

 ports for the last ten years £1,136,893,614, or in our money $5,502,- 

 565,091. 



It is not pretended, in these published reports of their trade, that there 

 has been an export for every import. So far from this, they show right 

 the contrary. They give us the total value of all their'exports of British 

 and foreign and colonial produce, and all their imports each year, and they 

 show that their exports fall short of their imports by more than five bil- 

 lion five hundred millions of dollars in the last ten years of their trade. 

 And it has been the same for more than thirty years in their dealings. In 

 each of these years they have published a report, of their trade for the year, 

 and in each and every report they give their imports and exports for that 

 year ; and from it we find that each and every year during this period the 

 import has been in excess of the export, virtually admitting that there has 

 not been an export for every import. The appalling figures in these reports 

 of the terrible condition of their trade with foreign nations, stand out 

 in bold relief, and give a crushing denial to their assumed but fallacious 

 dogma. And there is no excuse or explanation given, or pretended to be 

 given, in any one of these annual trade reports that have been published 

 during this time, why the export has not followed the import, as they 

 assert it should have done. 



If you include the exports and imports of gold and silver in the United 

 Kingdom, they do not get over the difficulty or to any very great extent 

 change the figures given above as to the .excess of the imports over the 

 exports. Persons familiar with the depression of trade in England and 

 the suffering of the working people for want of employment, will find 

 there ample ground to account for the depression and the want and misery 

 that exist there. 



A nation cannot continue forever to buy more than she sells and be pros- 

 perous any more than an individual can. If the outgoes are more than the in- 

 come, in time ruin and bankruptcy must follow. It is true of individuals 

 and it is equally true of nations. 



The figures in these annual reports of course are made up from the uni- 

 ted dealings of the people of the kingdom with the people of other coun- 

 tries. In order still further to prove the falseness of this theory, we will 

 examine these same English reports and take their dealings with the peo- 

 ple of some of the other nations. 



And first let us take France, their nearest neighbor, and see whether 

 in their dealings with this nation the exports have followed the imports. The 

 figures for the last ten years of their trade are as follows : 



Year. Imports. Exports. 



1875 £46,720,101 £27,292,455 



1876 45,804,854 29,000,273 



1877 45,823,324 25.663.602 



1878 41,378,896 26,595,958 



1879 38,459,096 26,558,333 



