118 



COMMERCE OF THE UNITED STATES. 



During the fiscal year ending June 30, 1866, the United States imported : 



Foreign merchandise free of duty $58,801,759 



Foreign merchandise paying duty 368,508,051 



Total, year 1865-1866 $427,309,810 



Of foreign merchandise there was reSxported : 



Free of duty $1,907,157 



Dutiable 9,434,263 



Total (mixed gold and currency value) $11,341,420 



Which, reduced to currency value, was equal to $10,263,233 



Total foreign merchandise, valued (in gold) $417,046,577 



Imports, specie $10,329,156 



Of which there was reexported 3,400,697 



Net imports, specie $6,928,459 



Total net imports, foreign merchandise and specie $423,975,086 



During the fiscal year ending June 30, 1866, the United States exported domestic 



merchandise, currency value, $468,040,903, reduced to gold value $333,322,085 



Specie exported 82,643,374 



Total domestic exports, valued in gold $415,965,459 



Apparent balance of trade, valued in gold $8,009,577 



The following is a summary of the total exports to foreign countries from the port of New- 

 York, for each month of the past six years : 



The exports of specie through the year 1866 

 will be seen, to have been large, owing in part 



to the monetary disturbance in Europe and the 

 consequent return of United States bonds : 



I It is evident, from these figures, that the 

 balance is against us, and, chiefly by the ex- 

 portation of our Government bonds, it is be- 

 ing temporarily and improvidently arranged ; 

 temporarily, because a large portion of these 

 bonds have been bought on speculation. 



From various causes, the aggregate exports 

 of Few York for the calendar year of 1866 

 were about $14,000,000 in value less than the 

 year 1865, and about $29,000,000 less than in 

 1864. This is in part accounted for by the re- 

 sumption of the export trade of the Southern 



ports in 1865 and 1866 the export of cotton 

 alone from Southern ports being about 1,000,- 

 000 bales. If to this we were to add tobacco, 

 naval stores, etc., we would discover one reason 

 why we have been able to import so largely the 

 past year without working serious disturbance 

 to monetary affairs by reason of our foreign 

 balances. The following statement exhibits 

 the quarterly exports for the past six years. 

 As the shipments of merchandise are reckoned 

 at their market price in currency, we have 

 given in the same connection the price of gold : 



