in Massachusetts 117; risks,
$450,896,263. No statement given for Maryland, but comparatively very
small, as the risks in Massachusetts were nearly one sixth of all in the
Union.

Our exports abroad, from Massachusetts, for the fiscal year ending 30th
June, 1860, were of the value of $17,003,277, and the foreign imports
$41,187,539; total of imports and exports, $58,190,816; the clearances
746,909 tons, the entries 849,449; total entered and cleared, 1,596,458
tons. In Maryland, exports $9,001,600, foreign imports $9,784,773; total
imports and exports, $18,786,323; clearances, 174,000 tons; entries,
186,417; total of entries and clearances, 360,417 (table 14, Register of
Treasury). Thus, the foreign imports and exports abroad, of
Massachusetts, were much more than triple those of Maryland, and the
entries and clearances very largely more than quadruple. The coastwise
and internal trade are not given, as recommended by me when Secretary of
the Treasury, but the tables of the railroad traffic indicate in part
the immense superiority of Massachusetts.

These statistics, however, prove that, if the earnings of commerce and
navigation were added, the annual value of the products of Massachusetts
_per capita_ would be at least $300, and three times that of Maryland.
In estimating values _per capita_, we must find the earnings of commerce
very large, as a single merchant, in his counting house, engaged in an
immense trade, and employing only a few clerks, may earn as much as a
great manufacturing corporation, employing hundreds of hands. Including
commerce, the value _per capita_ of the products and earnings of
Massachusetts exceeds not only those of _any State in our Union_, BUT OF
THE WORLD; and would, at the same rate, make the value of its annual
products three hundred millions of dollars; and of our own country,
upward of nine billions of dollars per annum. Such, under great natural
disadvantages, is the grand result achieved in Massachusetts, by
education, science, industry, free schools, free soil, free speech,
_free labor_, free press, and free government. The facts prove that
freedom is progress, that 'knowledge is power,' and that the best way to
appreciate the value of property and augment wealth most rapidly, is to
invest a large portion of it in schools, high schools, academies,
colleges, universities, books, libraries, and the press, so as to make
labor more productive, because more skilled, educated, and bette