[Footnote 2: Sterns,
Foreign Trade of the United States, 1820-1840, in Jour. Pol. Econ.,
VIII., 34, 452.] As we have seen, the staple states produced the
lion's share of the domestic exports, and the internal exchange
favored by the protective tariffs restrained the foreign
importations. Aside from the depression in 1821, following the panic
of 1819, and the extraordinary rise in 1825, the exports in general
exhibited no marked increase or decline between 1820 and 1829.
Imports showed a value of nearly seventy-four and one-half million
dollars in 1820, ninety millions in 1825, and sixty-seven millions
in 1829. [Footnote 3: Soley, in Shaler, United States, I., 538; cf.
Pitkin, Statistical View (ed. of 1835), 177; W. C. Ford, in Depew,
One Hundred Years of Am. Commerce, I., 23.] During the whole of
Adams's administration, New York preserved its easy lead in domestic
exports, although, as the west leaped up to power, New Orleans rose
rapidly to a close second in exports of domestic origin.
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