Speech of Hon Tg Phelps of Cal On the Pacific Railroad Delivered in the
Speech of Hon Tg Phelps of Cal On the Pacific Railroad Delivered in the
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000 in round numbers. This amount of indebtedness is now mostly paid through English houses, at a cost to us of about twenty per cent. At the present rate of exchange, then, the balance against us, to be paid by remittances of money or bills of credit, will cost us annually, the sum of $1, 280, 000; that is to say the $6, 400, 000 purchased by us in excess of our exports, will really cost us, $7, 680. 000. This exchange, of course, is paid in part by every person who consumes a dollar's worth o...f Chinese goods, as it becomes a part of their cost; and one section of the country is as mqch interested in reducing the amount as another, it being placed upon the people of the entire country as equally as the duty on imports or any other tax. If we can by the construction of this road open a irew channel of commeree which will turn this treasure currents to direct shipments, which can be made from Sari Francisco in twenty-three days, saving from the present specie route at least sixty days in time, reducing the cost of shipment, including exchange, freight, interest, and insurance, to not exceeding four per cent.
What to read after Speech of Hon Tg Phelps of Cal On the Pacific Railroad Delivered in the?
You can find similar books in the "Read Also" column, or choose other free books by T G Timothy Guy Phelps to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
000 in round numbers. This amount of indebtedness is now mostly paid through English houses, at a cost to us of about twenty per cent. At the present rate of exchange, then, the balance against us, to be paid by remittances of money or bills of credit, will cost us annually, the sum of $1, 280, 000; that is to say the $6, 400, 000 purchased by us in excess of our exports, will really cost us, $7, 680. 000. This exchange, of course, is paid in part by every person who consumes a dollar's worth o...f Chinese goods, as it becomes a part of their cost; and one section of the country is as mqch interested in reducing the amount as another, it being placed upon the people of the entire country as equally as the duty on imports or any other tax. If we can by the construction of this road open a irew channel of commeree which will turn this treasure currents to direct shipments, which can be made from Sari Francisco in twenty-three days, saving from the present specie route at least sixty days in time, reducing the cost of shipment, including exchange, freight, interest, and insurance, to not exceeding four per cent.
What to read after Speech of Hon Tg Phelps of Cal On the Pacific Railroad Delivered in the?
You can find similar books in the "Read Also" column, or choose other free books by T G Timothy Guy Phelps to read onlineMoreLess
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