19 



RECEIPTS FROM CUSTOMS AT NEW YORK. 



1861 $19, 380, 133 



1862 49, 589, 522 



1863 53, 637, 865 



In connexion with this statement of our imports and exports, we give place to 

 the following letter and statement, as we think they point out the proper mode 

 of comparing the imports and exports, when our currency is below the value of 

 gold ; and as such difference in value may exist some time yet, it becomes neces- 

 sary to settle the correct mode : 



Office of the New Yorker Handels Zeitung, 



Decemher 2, 1863. 

 Sir : The rates of gold and foreign exchanges being ruled by the balance- 

 sheet of our foreign commerce, it is of the utmost importance that merchants and 

 farmers should be well informed in regard to this point ; I therefore beg to su g- 

 gest several corrections of the statement published in your report for October, 

 (page 10.) 



The foreign imports being payable in gold, or its equivalent, no difference be- 

 tween gold and currency should be added, but such difference be deducted from 

 the produce exported. If, nevertheless, such calculation has been considered 

 correct, therefore the total of both imports and exports are given in currency, 

 said difference should have been added to the amount of specie. I have of late 

 published similar statements, showing, in all cases, that the balance is in our 

 favor, and, by correcting the error in your statement, the result will be the 

 same. Taking your own figures, I beg to hand you a statement, Avhich, how- 

 ever, does not include the remittances in live-twenties, which I have estimated 

 in my own statements at a minimum of twenty millions of dollars. In reference 

 to the reduction of foreign measures, money, (fee, into our own, the enclosed 

 slip,* from my paper, may prove useful. 

 Dear sir, your obedient servant, 



M. MEYER, 

 Editor and Proprietor of Handels Zeitung. 

 Hon. Isaac Newton, 



Commissioner of the Department of Agriculture., Washington, D. C 



The statement is as follows : 



imports AXD exports from new YORK. 



Totals from the October report of tlie Department of Agriculture : 



Imports for ten months, 1863, from January 1 to November 1 . . .$155, 000, 000 



Exports of produce for same time $145, 000, 000 



Less difference between gold and currency, at 

 the rate of 40 added per 100, equal to 28^, 

 or, according to the actual average of 331 per 

 cent., about 48, 333, 000 



96,667,000 



Specie export from New York $39, 000, 000 



Specie export from California .... 25, 000, 000 



64, 000, 000 160, 667, 000 



Balance in our favor 5, 667, 000 



tee " WtiyhUi and Meoiures," where we lepublisli it.pnge 24. 



