Speech #430112333

The Government bonds are hold largely abroad. so are the bonds of the States. of railroads. of cities and of corporations. Large sums go across the Atlantic annually to pay the interest on this debt. which is estimated by men well informed to be from $1.000.000.000 to $1.500.000.000. Up to the last year the drain created in this way upon our resources has been compensated by the immigration to this country. which for five years beginning with 1869 was as follows: 18609 ....................................................................... 395.922 1870 ....................................................................... 378. 706 1871 ....................................................................... 367. 789 1872 ---------------------------------------------------.................. 449. 483 1872 ............... I ....................................................... 422.545 These imnigrants brought money with them. In 1856 the commissioners of immigration questioned each immigrant. and came to the conclusion that the average of money brought by them was $68.08. But this estimate was afterward ascertained to be much too small. The immigrants. not knowiug the object of the question put them and not caring to disclose their menus anyhow. did not give correct answers and nearly always understated their moans. In one case a farmer and three sons declared they had only $25 each. When the matter was explained to them the old man admitted lie had $2.700 and each of the sois about the same. making in all $11.000. instead of $100. as at first reported. The report of the commissioners of immigation for 1854 states that the German immigrants had alone for each of the three previous years brought an annual average of $11.000.000. Statistical tables of the Grand Duchy of Baden fix the amount that each immigrant brought at $98 in gold. that of the Bavarians at $93.20. that of the Brunswickers at $96. The Wurtembergers who came in 1856 brought $134 gold each. in 1857. $145. and in 1858 each came with $318. But it was not only in bringing money to the country that the immigrant was valuable. He very soon became a producer and a taxpayer. and in that way added to the good condition of the country. But this immigration has now fallen off greatly. and many are retnrning and taking away with them their earnings. and when the decreased immigration and the increased emigration are considered. it is doubtful whether we are making or losing. The statistics of immigration for 1874 have not been published. and therefore I cannot speak with entire accuracy. But the receipts froe passengers. especially in the steerage. of the various lines of steamers plying across the Atlantic tell plainly the story of the decline both of immigration and of business. Here are their exhibits of receipts from freight and passengers for the years 1873 and 1874: