The Pamphlet Collection of Sir Robert Stout: Volume 52
The Balance of Trade, and How it is Paid
The Balance of Trade, and How it is Paid.
It is said we are draining ourselves of gold to pay for the excess of Imports. What are the facts?
Imports of Commodities, 1874 to 1883 | £3,893,522,521 |
Exports of Commodities, 1874 to 1883 | 2,778,247,656 |
Excess of Imports | £1,115,274,865 |
Imports of Gold and Silver, 1874 to 1883 | £268,391,090 |
Exports of Gold and Silver, 1874 to 1883 | £253,811,085 |
Excess of Imports of Bullion and Specie | £14,580,005 |
From which it would appear, according to the Protectionist theory, that the foreigner had paid us £14,000,000 in Bullion and Specie to take £1,115,000,000 worth of goods off his hands.
Received for Ocean Carrying Trade | £45,000,000 |
Received for Marine Insurance | 3,500,000 |
Received for Interest upon Capital | 5,000,000 |
Received for Merchants' Profits | 17,500,000 |
Received for Interest on Foreign Investments | 55,000,000 |
£126,000,000 |