History of the United States of America, Volume 5 (of 9) : $b During the first administration of James MadisonAdams, Henry
History
History of the United States of America, Volume 5 (of 9) : $b During the first administration of James Madison
Adams, Henry
United States -- History -- 1801-1809; United States -- History -- 1809-1817
The reason of this tendency could in part be seen in the Treasury
reports on American shipping, which reached in 1810 a registered
tonnage of 1,424,000,--a point not again passed until 1826. The
registered foreign tonnage sprang to 984,000,--a point not again
reached in nearly forty years. New vessels were built to the amount
of one hundred and twenty-seven thousand tons in the year 1810.[246]
The value of all the merchandise exported in the year ending Sept.
30, 1810, amounted to nearly sixty-seven million dollars, and of
this sum about forty-two millions represented articles of domestic
production.[247] Except in the year before the embargo this export
of domestic produce had never been much exceeded.[248] The imports,
as measured by the revenue, were on the same scale. The net
customs-revenue which reached $16,500,000 in 1807, after falling
in 1808 and 1809 to about $7,000,000, rose again to $12,750,000 in
1810.[249] The profits of the export and import business fell chiefly
to Boston, New York, Philadelphia, and Baltimore, where the shipping
belonged; and these cities could not fail to attract labor as well
as capital beyond the degree that a conservative republican of the
Revolutionary time would have thought safe.
More than half of these commercial exchanges were with England or her
dependencies. Great Britain and her American colonies, Portugal and
Spain in her military protection, and British India consumed at least
one half of the exports; while of the net revenue collected on imports,
Gallatin estimated six and a half millions as derived from articles
imported from Great Britain and the British dependencies, all other
sources supplying hardly six millions.[250] The nature of these imports
could be only roughly given. In general, sugar, molasses, coffee,
wines, silk, and tea were not British; but manufactures of cotton,
linen, leather, paper, glass, earthen-ware, iron, and other metals came
chiefly from Great Britain. To the United States this British trade
brought most of the articles necessary to daily comfort in every part
of the domestic economy. The relief of recovering a full and cheap
supply exceeded the satisfaction of handsome profits on the renewed
trade. Experience of the hourly annoyance, expense, and physical
exposure caused by deprivation of what society considered necessities
rendered any return to the restrictive system in the highest degree
unwise, especially after the eastern people acquired conviction that
the system had proved a failure.
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