He sold these products in Spain, bought olive oil
with the proceeds, shipped the same to Australia, where it was worth,
ex duty and plus charges, $1,610,510, which sum he realized in gold,
which he carried to New York in 1853. On the latter transaction he
makes no profit, but barely clears his charges. Yet on the whole he
has made a net gain of $610,510; but, according to the Commerce and
Navigation Reports, the exports have been $1,000,000 and the imports
$1,610,510, showing, from Mr. Greeley's solitary point of view, a loss
to the country of $610,510. Nay more, for Mr. Greeley balances his
trade accounts each year by itself, and as E's outward shipment was
made in 1850 and his importation in 1853, the country, according to
H.G., lost in 1853, by over importation, $1,610,500. Yet not to be
hard on H.G., and to be perfectly honest in our accounts, we will only
set down a loss to the country from his point of view of $610,510.
F, owned the 4,000 ton ship Great Republic, which cost him $160,000.
Finding her too large for profitable employment, and hearing that
large vessels were in demand in England as troop transports to the
Crimea, he sent her out in ballast and sold her in Southampton for
$200,000 cash.
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