With a balance of trade against us (including interest on bonds held by foreigners and money spent by our citizens traveling in foreign lands) equal to the entire yield of the precious metals in this country, it is not so easy to see how this result is to be otherwise accomplished.
He discusses the challenges of balancing trade and the implications of foreign debt on the economy.
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More from Ulysses S. Grant
Being a part of the United States, commerce between the island and mainland would be free.
The merchants, manufacturers, and tradesmen of every calling could do business on a fair margin of profit, the money to be received having an unvarying value.
They are also known for their opposition to all strife, violence, and war, and are generally noted for their strict integrity and fair dealings.
In this connection I advise such legislation as will forever preclude the enslavement of the Chinese upon our soil under the name of coolies, and also prevent American vessels from engaging in the transportation of coolies to any country…
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