FINANCES OF THE UNITED STATES. 



301 



While those returns are believed to be rea- 

 sonably accurate as regards the exports by 

 it has been I'miml impractical. lo to obtain 

 complete statements of our exports to Canada, 

 ouinij to the fact that manifests, containing 

 t!u- ijiiantiti. 's and values of merchandise ex- 

 ! in railway-cars, are not legally requira- 

 hle. Detailed statements have been received, 

 however, from the Commissioner of Customs 

 of the Dominion of Canada, from which it ap- 

 tliat the coin value of our exports to 

 da during the last fiscal year was $10,- 

 ~>9 in excess of that returned by the 

 United States customs officers, which would 

 increase the exports for the last fiscal year as 

 al'uve stated, by that amount. 



Merchandise of the value of $17,878,225 was 

 withdrawn from bond for consumption, in ex- 

 cess of that entered for warehouse, during the 

 year. 



The export of coin and bullion was $24,- 

 'J.VJ. 138 less than for the preceding year, while 

 the exports of domestic merchandise have in- 

 creased $63,803,118. 



There appears to have been a decrease in 

 importations for the last year of $74,729,868, 

 as compared with the previous fiscal year, and 

 of $59,188,735, as compared with the fiscal 

 year ended June 30, 1872. 



The following imports show an increase in 

 value, respectively : 



Coffee, $10,941,570; molasses, $1,046,773; 

 salt, $556,127; fiaxseed, $147,229; brass and 

 other metals, $475,439 ; medicinal barks, 

 $418,436 ; coal, $410,762 ; hair, $408,826 ; 

 raw hemp, $328,994 ; indigo and cochineal, 

 $353,474; unmanufactured wool, $384,810; 

 articles exported, and returned, $1,287,622 ; 

 opium, $561,726 ; spices, $586,642 ; barley, 

 $2,838,672 ; dress-goods, $1,714,838. 



Those exhibiting a decrease in importation 

 are principally unmanufactured wool, $12,- 

 183,632; manufactures of wool, $4,149,298; 

 raw silk, $2,606,613 ; manufactures of silk, 

 $5,893,253 ; fine linen, laces, and other manu- 

 factures of flax, $2,955,636; cotton goods, $7,- 

 007,455 ; kid gloves, leather, and manufactures 

 of leather, $1,107,528; furs, $379,427; hides 

 and skins, $1,281,565 ; jute and jute butts, 

 $1,471,727; paper -stock, $1,058,297; paper 

 and paper hangings, $734,872 ; horse-hair, 

 $792,675 ; old and scrap iron, $5,148,370 ; 

 copper ingots, $2,347,626 ; manufactures of 

 copper, $887,836 ; pig and bar lead, $1,094,- 

 240 ; tin plates, $2,000,727 ; watches, $900,- 

 531 ; jewelry and precious stones, $876,997 ; 

 fancy goods and perfumery, $468,986 ; to- 

 bacco, snuff, and cigars, $1,304,002 ; wines 

 and liquors, $622,000 ; fruit and nuts, $1,892,- 

 044; sugar, $829,490; tea, $3,353,860; dutia- 

 ble chemicals, $878,711 ; chemicals, drugs, nnd 

 dyes, $1,444,919; dye-woods, madder, argols, 

 bleaching- powder, and nitrate of soda, $718,- 

 083 ; soda-ash, $928,448 ; earthen, stone, and 

 china-ware, $1,183,570 ; common window- 

 glass, and glassware, $1,899,341 ; lumber, $2,- 



604,827 ; crude India-rubber and gutta-percha. 

 $708,821. 



There was a falling off in the importation of 

 iron and steel and their products of $20,866,- 

 686 in value, upon the following articles: 

 Kails, $8,982,267 ; steel and manufactures of 

 steel, $3,824,513; pig-iron, $3,915,747; bar- 

 iron, $2,266,170 ; sheet, hoop, and band iron, 

 $1,160,808; machinery, $400,192 ; anchors, ca- 

 bles, chains, castings, and hardware, $308,839. 



There was also a decrease in the importa- 

 tion of live animals of $702,381, and of pro- 

 visions of $849,831 in value. 



Of domestic products exported, the follow- 

 ing articles show an increase in value, in cur- 

 rency : "Wheat, $49,969,205 ; wheat-flour, $9,- 

 876,430; rye and rye-flour, $1,440,999; corn 

 and corn-meal, $1,029,829 ; cheese, $1,400,- 

 985; butter, $139,462; pork, $801,677; beef 

 and tallow, $1,576,044; fish, $603,712; leaf- 

 tobacco, $7,710,046; oil-cake, $487,798; horned 

 cattle, $454,900 ; hogs, $838,435 ; agricultural 

 implements, $503,839 ; timber, wood, and man- 

 ufactures of wood, $2,233,919 ; coal, $909,675 ; 

 manufactures of hemp, $691,021 ; iron and 

 manufactures of iron, $846,197; fire-arms, 

 $1,158,269 ; sailing-vessels sold to foreigners, 

 $371,407. 



The decrease in the exportation of domestic 

 products appears principally in the following 

 articles : Raw cotton, $10,016,489 ; bacon, 

 hams, and lard, $3,576,025 ; hides, $1,044,641 ; 

 furs and fur-skins, $391,185 ; leather and man- 

 ufactures of leather, $518,976; sewing-ma- 

 chines, $556,424 ; crude mineral-oil, $910,354; 

 crude turpentine and resin, $585,565 ; and sil- 

 ver ore, $969,303. 



The most important question relating to the 

 finances which was before the country during 

 the year was on the expansion or contraction 

 of the currency and the payment of specie. 

 The views and action of Congress will be found 

 in the debates on the currency, under the title 

 of Congress, in this volume. The brief veto 

 message of the President to Congress, resisting 

 inflation, will be found in the same part of this 

 volume. The views of the President were still 

 further expressed in a memorandum prepared 

 by himself and made public through the fol- 

 lowing correspondence: 



UNITED STATES SENATE- CHAMBER, ) 

 WASHINGTON, June 4, 1874. ) 

 To the President : 



I was so deeply impressed by tlio clearness and 

 wisdom of the financial views, some of which you 

 have fortunately reduced to writing, recently ex- 

 pressed by you in a conversation in which I had 

 the honor, with a few others, to be a participant, 

 that I cannot dismiss them Irorn my mind. The 

 great diversities of ideas throughout the country 

 upon this subject, and the fact that public opinion 

 concerning the same is still in process of formation, 

 lead me to believe that the publication of these views 



your permission that it may be made public. 



I have the honor to be, very respectfully, vour 

 obedient servant, J01JN P. JOlsES. 



