296 
Aas 
RY 
INTERNATIONAL TRADE 
(2) 1908-09 
Cr. Net Exports 1675 
Gold Exports 48 
New Loans and ) 
other items 184 
Dr. 
Net Imports 1312 
Interest 250 
Freight 25 
Tourists 170 
Immigrants’ re- 
mittances 150 
1907 
4907 
3) 1911-12 
Cr. Net Exports 2188 
Gold Exports 8 
Interest to 
United States 50 
New Loans and 
other items 100 @ 150 
2346 @ 2396 
Dr. 
Net Imports 1618 
Interest 200 
Freight 50 
Tourists 250 
Immigrants’ re- 
mittances 
250 @ 300 
2368 @ 2418 
Some of the main debit items are separately stated in the fol- 
owing table. In it I not only repeat the figures for those items 
which appear in the preceding tables, but add further figures for the 
same items. These additional figures have been given at one time 
or another in somewhat fragmentary fashion, without any attempt 
to incorporate them in systematized balance sheets. They serve 
in some sort as checks or corroborations of the more systematic 
statements.} 
WALTERS- 
WELLS HAUSEN PASH KENT 
1869 1894 1901 1909 1912 
Credit Items: Fresh Loans to United 
States 200 
Debit Items: Securities Sold in United 
States 60 
Interest and Dividends 80 95 114 250 200 
Freight Payments 24 23 53 25 50 
Tourist Expenses 25 47 84 170 250 
Immigrants’ Remittances 40 150 250 @ 300 
{ The figures in the second column (1894) have been furnished by my colleague, 
Professor J. H. Williams, who discovered them in the New York Journal of Com- 
merce, July 8, 1895, and the Commercial Chronicle, Vol. 60, p. 2, p. 632. Those 
in the third column (1901) are from S. Vv. Waltershausen’s paper on Die Han- 
delsbilanz der Vereinigten Staaten (1901). 
In view of the scattered sources from which the figures are derived, it is sur- 
prising that they agree so well as regards the trend of the several items. The only 
striking case of irregularity is Paish’s estimate for freight charges in 1909, which is 
andoubtedly too low.