86 



IMPORTS AXD EXPORTS. 



The more complete returns of imports and exports than published in the 

 last monthly report are as follows, taken from the New York Journal of 

 Commerce : 



Imports at New York. 



Dry goods.. 



General merchandise 

 Specie 



Total imports.. 



1862. 



$56,121,227 



117,140,813 



1,390,277 



174, 652, 317 



1863. 



$67, 274, 547 



118,814,219 



1,525,811 



187,614,577 



1864. 



$71,589,752 



144,270,386 



2, 265, 622 



1865. 



$91,965,138 



130, 654, 000 



2, 123, 281 



218, 125, 760 224, 742, 419 



Exports at New York. 



It will be remembered that the values of the imports are gold values as fixed 

 on the merchandise at the ports from whence imported, and the values of the 

 exports of produce and merchandise are currency values at the port of New 

 York. 



Referring to this fact the United States Economist of New York says : 



"It may be of interest to estimate how far our exports have balanced our im- 

 ports. Estimating the price of gold to have averaged one hundred and forty 

 during the year, it would follow that the 8178,000,000 of exports of produce and 

 merchandise would amount in specie to S 128,000,000, to which add the 

 $30,000,000 export of specie, and the total exports would be equal to 

 $158,000,000. It would thus appear that the exports have fallen sixty-six 

 millions in gold below the imports. 



" It is a fact never to be lost sight of in estimating our commercial relations 

 with Europe that our importations during the war years have not been paid for, 

 as formerly, with products, but to a very material extent with credits of one 

 form or another. It may be reasonably estimated that since the commencement 

 of the war Europe has received from us not less than $350,000,000 of various 

 kinds of securities, or possibly §400,000,000. This creates against us an addi- 

 tional annual interest of about §25,000,000, to be paid in products to Europe." 



Since the publication of these reports first commenced, especially in 1863, 

 when individual extravagance pervaded the whole country, and especially its 

 city society, we again and again called attention to these excessive imports, 

 foreseeing as we did the result now pointed to by the Economist. 



