BARRELS OF FLOUR AND WHEAT ARRIVED AT TIDE-WATER, PER ERIE CANAL. "in Flour, 1,781,066 1,747,064 2,239,177 2,474,689 2,809,349 These figures, in some degree, illustrate the capacity of the great avenues to pour forth produce, whenever prices are such as to remunerate the farmer and miller. The events now passing abroad are such as to give a wide field for this demand, and urge, to its full extent, the capacity of the west to send forth its surplus products. The effect of the proposed change in the tariff, comes eminently in aid of this large export of produce, by checking the disposition to import goods, and, therefore, to bring specie into the country in exchange for the produce sent out; while the agitation of the sub-treasury, by preventing the extension of bank loans to the holding of produce, may operate to keep the prices at a regular healthy export level, and, by so doing, allows all the surplus to pass out of the country at its actual effective value, and, as a necessary consequence, to enhance the value of the returns into the country. These returns will take the shape of specie rather than of goods, inasmuch as the check given to the currency, by the change in the financial policy of the government, will check the inflation, now progressing, and reduce prices of imported goods; while the demand for specie, for government purposes, will enhance the comparative value of specie. If we turn to the imports for the last six years, embracing the operation of three tariffs, we find results as follows:IMPORTED GOODS INTO THE UNITED STATES. Total, $50,179,468 $185,616,358 $240,010,736 $149,349,739 $625,593,181 The table presents a great diminution in the import of free goods under the tariff of 1841, which imposed duties on most articles, with the exception of tea and coffee. The import of ad valorem goods has greatly increased, more particularly since 1843, when the present tariff went into operation. The imports under that date it will be observed, are for nine months only. The exports for a corresponding period have been as follows: Specie. EXPORTS FOREIGN GOODS. Dolls. Dolls. Specific. Specie. 1840, 6,171,041 6,212,562 3,271,728 2,534,081 2,235,073 111,660,561 132,085,946 1841, 7,287,846 3,953,054 2,136,522 2,091,659 2,746,486 103,636,232 121,856,755 1842, 3,612,785 3,195,299 2,812,762 2,041,692 1,170,754 91,799,242 104,691,534 1843, 1,412,919 1,683,206 1,889,257 1,567,315 1844, 5,270,809 2,251,550 1,706,206 2,256,302 107,429 77,686,354 84,346,482 183,405 99,531,774 111,200,046 1845, 7,762,049 2,413,050 2,107,232 3,064,439 884,446 98,455,330 114,646,606 31,548,349 19,708,721 13,953,767 13,555,488 7,287,993 582,769,493 668,827,375 VOL. XIV.-NO. I. 6 The year 1839, was one of speculative imports: that is to say, the proceeds of large amounts of stocks, sold abroad, came home in the shape of specie. Since then, the number has fluctuated with the vicissitudes growing out of financial changes in this country. The results for six years, in relation to foreign goods, have been as follows: That is to say, what we have given exceeds, by that amount, what we have received; yet this is very far from being the fact, because the specie balance has been in our favor by more than $11,000,000; showing that a profit on the whole exports has been realised. This has been the case under a high tariff, the effects of which have been, at times, counteracted by the expansion of the currency here. If the proposed measures of the government are carried through, the reverse will be the case, viz: the duties will be lower, but the currency will be dearer, and will maintain the prices of goods at a specie level, and perhaps, lower than the average abroad; consequently this operation of the financial policy of the government, would as effectually check imports as well as high duties, and will have the effect of promoting exports, for the same reason, viz: that prices will be generally low. The state of the currency has a far greater effect upon the foreign trade than is generally supposed. A tariff, which, in one state of the currency, is entirely prohibitive, is, in a more expanded state of credit, but little check upon imports, because, with fuller state of the currency, prices here rise to a degree which covers the amount of duties; but such a general use, it is evident, discourages exports to an extent quite as great, as it encourages imports, and produces a revulsion by the advanced state of exchanges. The state of affairs, so presented, is eminently such as to point to a great accumulation of money in the country. The specie basis is now much larger than ever before, and the outstanding credits, based upon that specie, greatly less than at some former periods. The tendency of affairs is to enhance that specie basis, while keeping a check upon the extension of credits, or of extended bank discounts, which are the most effective means of creating a demand for money; because, for any specified amount received from the banks, the maturity of the obligation requires a sum larger, at least, by the interest to be paid to them; and when the discounts are general, the prosperity must be general, and results active, to admit of their notes, in the aggregate, being met without pressure. We have not here alluded to those political events that have lain heavy upon the markets during the month. The chief of these was the termination of the Oregon negotiation, without results. It was apprehended, from the high tone taken by both governments, that difficulties might arise from indisposition, or perhaps inability, of either party, to recede from the position it had taken; and stock-jobbers and political partisans endeavored to give the most effect to these apprehensions. Happily, however, the fears passed away, as the public became more confident that England would offer to take the forty-ninth parallel as the boundary, and that it would be accepted by the Senate. It is not to be disguised, however, but that the money-market was influenced, both here and in England, through the indisposition to loan money that these apprehensions produced. In England, moreover, the situation of the railroad deposits has excited great alarm. The deposits required by law amount to some £20,000,000, and should have been paid into the government by the 30th of November. They were mostly made in local depositories, and the transfer to the government must be made by February 30; and the manifest impossibility of paying so large a sum in money, excites alarm. The result will be, probably, that all the projects will be quashed by the government, on the ground that the proceedings have not been legal. These two circumstances are they which most affected the general state of affairs, and they are passing away, leaving the corn question a mere ministerial struggle. COMMERCIAL STATISTICS. SHIPPING OF THE PORT OF BOSTON. We published in the Merchants' Magazine, for November, 1845, a tabular statement of the registered and enrolled and licensed vessels of all denominations, owned in the city of New York, carefully prepared from the books of the Custom-House, expressly for this Magazine, by Mr. J. Dodge, Jr., a clerk in the naval office. We have now the pleasure of laying before our readers, through the politeness of the Hon. MARCUS MORTON, the worthy and efficient Collector of Customs for the port of Boston, a similar list of the shipping of that port. It was prepared with great labor and care, by Mr. S. Andrews, Marine Clerk and Registrar in the Boston Custom-House; to whom we would, also, return our grateful acknowledgments for his promptness, as well as the clear and legible form of the statement furnished by that gentleman for publication in our Journal. This list of vessels is made up to the 1st of December, 1845, and includes all that are owned at the port of Boston, now under permanent registers or enrollments. Those vessels which belong to other districts, and now under temporary registers granted at that office, are not included. We have no means of ascertaining the amount of tonnage owned in Boston, and now employed at other districts under temporary registers, but should think it at least equal to the temporary register tonnage at this port. Amount of temporary register tonnage, Sept. 30, 1845,......... Total,............. 189,274.75 42,146.90 231,421.70 From a statement in the Treasurer's report, exhibiting a condensed view of the tonnage of the several districts of the United States, on the 30th of June, 1844, the registered tonnage of the district of Boston is put down at 175,330.52; enrolled and licensed, at 35,554.47—making a total of 210,885.04. The registered tonnage of the district of New York, according to the same statement, on the 30th of June, 1844, is put down at 253,888.23; and the enrolled and licensed at 271,273.75-making a total of 525,162.03. SHIPS. |