But the American shipping companies also re-exported goods and specie for other countries.
So, whose specie is BroCanard speaking about? Mexico? Panama?
He has spent days telling all about specie. He must have a good source of data on who owned it.
Too bad that none of the records I have seen label specie by source. No way of knowing why it was there or who it belonged to.
But wait....it doesn't matter...for two reasons. The dollar percentage was too low to change the ratios and there is no way to say there is a relationship of specie to imported goods.
Another BroCanard rabbit trail.
Your own Treasurer's Report of 1861 (p90) shows US gold reserves as hundreds of millions of dollars.
So there's no reason to speculate on who owned that money.
PeaRidge: "it doesn't matter...for two reasons.
Another BroCanard rabbit trail."
Hardly!
First, in 1860 exports of specie at $58 million (15% of $400 million) were second only to cotton itself as the US largest export category.
The next largest category, Northern manufactures, was less than half the amount of specie.
Second, just like any other export, specie produced credits available to balance import books.
Bottom line, PeaBrain, is that you've made arguments here which hold no water, indeed are nothing but hot air.