The amount collected as Internal Revenue for 1865, on gross receipts of railroads, was $5,917,293, implying gross receipts from freight and passengers in 1864, amounting to $236,691,720. The amount collected as internal revenue, for 1865, on gross receipts of canals was $92,421, implying gross receipts from freight and passengers amounting to $3,696,840. River Improvements in the United States. Amount collected as internal revenue on gross receipts from freight and passengers... 638,812 Amount of gross receipts from freight and passengers, as implied by tax collected. $25,552,480 Synopsis of Steamboats Engaged in Commerce on the Mississippi River and Tributaries, 1865.† The number of steamboats on the western waters in 1850, was estimated at 575, investing a capital of $60,000,000, and employing 15,000 hands.‡ Progress of the Electric Telegraph in the United States.-Miles of Wire Erected and in Operation. Finance Report, 1865, Report of Inspector of Steamboats, p. 208. †The blanks have no registry. Putnam's Encyclopedia of Chronology, p. 818. American Cyclopedia. Putnam's Encyclopedia of Chronology. ¶ Estimated. ** Actual. Foreign Imports and Exports of the United States. [A mere republication of the tables relating to this subject which are issued by the Treasury Department would only lead to wrong conclusions, since they do not include: 1st, Exports and imports of American securities; and 2d, American shipping; and do not allow either for 3d, The difference betwen the currency and gold values of the exports of late years; or for 4ch, The undervaluations which are commonly attached to customhouse invoices; or, 5th, For smuggling. As well may conclusions of profit and loss be drawn by the merchant or manufacturer from the balance of values of those goods only which are transported to and from his warehouse by a certain dray, as politico-economical theories deduced from the official returns of foreign trade. Something else is needed, in order to strike correct balances of gain or loss. The cash and notes which are received, the debts that remain unpaid, and the credits that are still open, are all indispensable elements of calculation when a balance is sought to be drawn. Finally, the values included in the accounts must be carefully arrived at, or the scales in which the balance is to be weighed will be found to be unequal. As these considerations are omitted in the Treasury tables, the following attempt to remedy the defect is deemed desirable.] Balance of Trade as per Treasury Tables. Four years' exports, 1862, '63, '64, and '65. Four years' imports, Assumed loss to the country from four years' foreign trade, according to "Balance of Trade" theory $1,190,979,923 1,092,179,676 } $98,800,247 The Treasury alters these figures in every succeeding report-sometimes to the extent of hundreds of millions. Compare reports of 1863, 1864, and 1865. The above figures are from the report of 1865. * These reductions to gold value are taken from the Treasury report for 1865, p. 280. The assumed average prices of gold during the past four years were-for 1862, 103; for 1863, 137; for 1864, 156; and for 1866, 202. Without admitting these assumptions to be correct, the Compiler has preferred to adopt them without dissent. † American shipping has decreased during the past four years about 1,600,000 tons, of which about 100,000 tons were destroyed by privateers, leaving 1,500,000, at an average price of $663 gold per ton, which has been sold to foreign countries. The number of vessels built during the period, and the number lost from wrecks, fire, &c., are assumed to have been equal. In a communication from the Secre Actual gross profit to the country from four years' foreign trade; a large portion of which was earned in the shape of interest, freight, insurance, and stowage; and the balance in the shape of mercantile gains, &c.. $156,000,000 [The value of American securities (corporation and government stocks) imported into and exported from the United States, since July 1, 1862, is but roughly estimated, no precise dates being available for the purpose. Furthermore, it is assumed in the above tables, that no balances at all between this and other countries existed on the dates above mentioned. Should the fact have been otherwise, it does not invalidate the conclusion reached.] Internal Traffic of the United States. At the market values of the calendar year 1862, it is estimated that the aggregate of all westward bound freights, delivered for consumption at a distance of not less than three hundred miles from the place of production, was worth.. And that the aggregate value of all eastward bound freights,* was Aggregate through exchanges east and west... Add value of freights delivered at a less distance than 300 miles. sippi, Alabama, &c.. Add coastwise commerce.. Add commerce across the western plains Add commerce of Pacific coast. $616,000,000 522,000,000 $1,138,000,000 No data.t No data. t No data.t No data.t No data.† XXI.-Other Commercial Statistics. American Vessels Sold to Persons in Great Britain.‡ tary of the United States Treasury to Congress, in December, 1865, it is stated that but 910,466 tons of shipping had disappeared from our lists, of which 800,303 tons had been transferred to foreign owners, and 110,163 tons destroyed by privateers. But this statement only included the returns received up to June 1st, 1865, and even these returns were very incomplete. A large number of vessels were transferred in foreign ports unknown to the authorities here, reports of which are even now (April 10, 1866) daily coming in from our Consuls abroad. These reports, and the transfers made subsequent to June 1, 1865, will swell the total to fully 1,500,000 tons, valued at $100,000,000. Statistics of the Foreign and Domestic Commerce of the United States. Report of the Secretary of the Treasury, March 12, 1863, p. 117. Some further evidence concerning the inland commerce of the country is to be adduced from the aggregate risks on inland freights assumed by the insurance companies of the country. In New York State alone, policies for inland-freight insurances, (For continuation of notes see next page.) |