Excerpt from The Commercial and Financial Strength of the United States: As Shown in the Balances of Foreign Trade and the Increased Production of Staple Articles
The only just and adequate measure of the’ national re sources, is to be reached through a calculation of the quanti ties of all articles of value produced, and of the exchanges, both of quantities and values, conducted With foreign countries. Ah exaggerated scale of prices laid oh articles of production, does not constitute wealth absolutely, though full prices are always favorable, and if a balance of exchanges With foreign nations exists in our favor, high prices bring us more, and constitute a deoicled national advantage. Nor does an abund ance of staple articles produced constitute wealth, if the ex changes With other countries exhaust me through the payment of heavy annual balances. The two Vital points of inquiry in a case of national trial are therefore these we have named, and they are directly connected in their practical consequences. It is proposed to offer some statement of facts illustrating them Which have not been given to the public heretofore. The minds of all patriotic and earnest men are now struggling to solve the question, Whether the resources of the United States are adequate to the present emergency, and Whether we oan or cannot furnish the vast sums necessary to meet the great trial the rebellion has brought on the country.
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