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Transportation

In: A New Balance of Payments for the United States, 1790–1919

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  • Lawrence H. Officer

    (University of Illinois at Chicago)

Abstract

Transportation means the movement of commodities. There are four components. First, receipts and payments emanating from waterborne freight. Conventional merchandise and gold-plus-silver are treated separately. Then freight income is the product of the applicable freight rate, total waterborne exports or imports, and the proportion of the trade carried in U.S. or foreign ships, as the case may be. Second is carrying trade, composed of three oceanic items (merchandise, specie, slaves) and rail transit. Only rail involves debits as well as credits. Third are port charges, with differentiation of merchant versus passenger ships and credits versus debits. Fourth are charter payments (there are no receipts), which begin during World War I.

Suggested Citation

  • Lawrence H. Officer, 2021. "Transportation," Palgrave Studies in American Economic History, in: A New Balance of Payments for the United States, 1790–1919, chapter 0, pages 223-246, Palgrave Macmillan.
    • Handle: RePEc:pal:psichp:978-3-030-66099-4_13
    DOI: 10.1007/978-3-030-66099-4_13
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