L, and some fifty thousand other skedaddlers ran off to Canada when the war broke out, for fear they might be drafted.  Together with the colored folks who fled there, and the many travellers who went there from time to time, they carried with them most of our silver half-dollars, quarters, dimes, half-dimes, and three-cent pieces.  These amounted to $25,000,000, which the skedaddlers, the colored folks, and the travellers, as with returning peace they slowly straggled back into the country, invested in Canadian knick-knacks, which they disposed of in the United States.  The incoming goods were duly entered at our frontier custom-houses, but the outgoing silver was not.  Mr. Greeley, unaware of this fact, detects an over-importation of $25,000,000, and is waiting to be elected to Congress in order to legislate the matter right.

M, (an actual transaction) had $1,000,000 in Illinois Central Railroad bonds, for which he desired to obtain $1,000,000 worth of iron rails to repair the road with.  Not being able to effect the transaction in the United States, he sent the bonds to Germany, where they were sold, and the proceeds invested in English railroad iron, worth $1,000,000 in Glasgow, but $1,100,000 in Chicago, ex duty, and plus transportation.  By this transaction M, besides effecting the desired exchange, netted a profit of $100,000.  Yet, according to the Commerce and Navigation Reports, and Mr. Greeley’s one eye, as there had been no exports and $1,000,000 of imports, the country was a sufferer by the latter sum.

N, was a body of incorporators who owned a tract of land lying in the bend of a river.  Standing in need of water power for manufacturing purposes, they resolved to cut a canal across the bend.  As this would essentially benefit the navigation of the river, the State agreed to guaranty their bonds for a loan of money to the extent of $1,000,000.  Finding no purchaser for these bonds in the United States, they remitted them to Europe, and there sold them at par.  With the proceeds they purchased army blankets for the Boston market, on which they realized ten per cent. net profit.  These sold, the avails were invested in barrows, spades, water-wheels, wages, &c., and in good time the canal was cut and the manufactory set a-going.  Profitable as this thing was to N, Mr. Greeley’s single-barrelled telescope sees in it only a loss to the country of $1,000,000.

O, represents the Illinois Central, Union Pacific, and other western railroads, owning grants of land along their respective roads, to sell which to actual settlers they open agencies in London, Havre, Antwerp, and other European cities.  The emigrants who buy these lands pay for them in Europe, and set sail for America with their title-deeds in their pockets, and their axes on their shoulders, ready for a conquest over forest and prairie.  The agents of the Illinois Central Railroad (see report of the Company), who have sold 1,664,422 acres, say at an average of ten