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The principal exports of France are wines, brandy, vinegar, fruit, oil, woollen cloth of a very fine quality, silk, perfumery, &c.: the imports are Baltic produce, the manufactures of England; fruits, drugs, raw wool, leather, &c. from Spain, Italy, and the Mediterranean states. The next division of Europe comprehends Spain, Portugal, Italy, and Greece.
Manufactures had been growing, although profits were not large, and public sentiment was beginning to change in New England. The Western vote was now larger than eight years earlier, and was in favor of protection. Exports of agricultural products had fallen off, and the agricultural States hoped to find a better market among the manufacturers.
Our exports being diminished, we should have to pay a balance in money. This would raise, in foreign countries, the price of everything which we import from thence: while our incomes, being reduced in money value, would render us less able to buy those articles even if they had not risen.
The cattle are, I think, the largest and finest I ever saw, and the beef is more delicious. There are immense herds of these, to which I have previously referred; and their hides and tallow, when slaughtered, have hitherto composed the principal exports from the country. If I were to hazard an estimate of the number of hides annually exported, it would be conjectural, and not worth much.
An indemnity for that loss was expected from a trade with the colonies, and with the greater reason as it was known that the supplies which the colonies derived from us were of the highest importance to them, their labor being bestowed with so much greater profit in the culture of other articles; and because, likewise, the articles of which those supplies consisted, forming so large a proportion of the exports of the United States, were never admitted into any of the ports of Europe except in cases of great emergency to avert a serious calamity.
It abounds in natural resources, but exports only sugar, spices, drugs, and lead, and these only in comparatively small quantity; yet it has gold enough to make pavements for the sacred white elephants, and to throw down into the unfathomed abyss in the Cavern of the Sun.
I do not favor the permanent interference of the Government in this problem. That probably would increase the trouble by increasing production. But it seems feasible to provide Government assistance to exports, and authority should be given the War Finance Corporation to grant, in its discretion, the most liberal terms of payment for fats and grains exported for the direct benefit of the farm.
Government has stepped in to protect the consumer of necessities from the profiteer, and is beginning to set a limit upon profits; has regulated exports and imports; established a national shipping corporation and merchant marine, and entered into other industries; it has taken over the railroads at least for the duration of the war, and may take over coal mines, and metal resources, as well as the forests and water power; it now contemplates the regulation of wages.
In my last annual message I said that the fiscal year ended June 30, 1911, was noteworthy as marking the highest record of exports of American products to foreign countries. The fiscal year 1912 shows that this rate of advance has been maintained, the total domestic exports having a valuation approximately Of $2,200,000,000, as compared with a fraction over $2,000,000,000 the previous year.
There was a time, which it might be now fit to call to remembrance, when human sacrifices, and even this very practice of the Slave Trade existed in our own island. Slaves, as we may read in HENRY's History of Great Britain, were formerly an established article of our exports.
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