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Les diagrammes suivants illustrent la m*thode. 1 2 3 1 2 3 4 5 6 Bl Efftcts c in E A Mem I Briti a7id fi peal A Stat 1 Puolish Fill L. / PROaREi^B OF f ii BRITISH COMME 'K 1 1 i! rSDEIi 1 'J FI^/EE T:E^-A.I3E SHOWI.Nt; THi: |i ■ ii Efftds of the Free Traxk pdiq/ recently inaa(iurated\\ ■m Emilimd as indiccded by its practmd resxlis. \ \ ' ■ !: A MemomndMm of the Board of Trade respediueJore a7id siTwe the ado^iou of Free Tradhj U>e met of a Dinmudion in rmport Didie^^ on rerlnin articles^ npou the amount .)/ Eevenne re-'rived (^w div^e articles. i Puolished for Pist-ibution, by order of the Victoria, V. I. Chamber of Cuaimerce. FllINTKl) AT Till.: VA>.COUVER TIMES OFFICj;, VICTORIA, V.J. 1865. 1 it ■tf->'»i^tS:. .'.Im^tBiB^fSSJiir' iC^f ^•; .*> i^. 'k i^ i ^^- .*'^ 1410(1 JlKSS i)V / BlilTISH COMMERCE U XI) Ell IPI^EE TI^JLIDE SHOWING THK Effvcis of the Free Trade 'p(tl ivy reeeiiihj hiaiKjnraled in EiKjlaiKl as hiduafed hy its prf^fefind resuUs. A Memorandma of the Board of Trade re-s^jeetimj BritisiL Conuiierce, Navigation and Finance Itefore and since the adoption of Free Trade and the lie- 2)eal of the Navigation Laws. A Statement shoicing the Effect of a Diminidhn in Import Duties on cerkrin articles upon the amount of Bevenne received on those articles. V Published for Distribution, by order cf the Victoria, V, I., Chamber of Commerce. rniNTEP AT THE VA^.COIVER IIMES OFFICK, VICTOKIA, V.l. 18C6. r^ ^ r? «u NW n : ,. -,«„>Tdl^'i4t*Wo . f 'll f' '<'!■< J >/ till' /'>>'•■• 'i'ldilr iinh'c/f i-i'.; ii/li/ iiiinii/nri'/cil in Emjlund r/s- Jinl'c lu I />>/ /Av inuicfirnl rr.s*7(7/.v. [Ofi^finally piililisiicil in tlio •Munitcur.'"] IMPOUT.-;. 1. Tho opFrrfAL vulii-s wliii-Ii amo.iiikMl ia 1842 to Xr)r),200.0()(), Imd incrcMsiMl in 1S;38 in ^1:^8,100,- 000, or more than (loiible. KXl'OUTo (iJlir.'lSIl). 2. Tho UEAFi value of exports ineiease''. 000, or t\V(» and a half times as miieli. sinrpixd. 8. The toniiM^e of liritisji sliij)pinj.'; tliat entered and cleared witli cargoes in 1842 was 5.4 15.82 1 tons. In 1858 it was 11,114,3:50 tons. The tonnage of foreign Hhii)i)ing increase*! from l,9)U).08ri to 7,()45,- fitU tony. The totrd tonnnge tiierefore increased from 7,34(>,804 to 18.T59,0(')1 tons, or more than two and a lialf times as much. CUSTOMS AXn EXCISK llEVEXl'K. 4. The revciin • froih these sources ajuounted in 1842 to X33,542;<01. i>'ot\V(xMi that (hite and 1858 taxes of (Justo^'is and Kixcise were re|)ealed or re- duced to tho extenl ••♦' no let^s than £11.100,000 net (». e., in excess (»f si)iii<<.'" taxes im])osed). If, there- fore, there had Itoon no incv<*ase from otlier articles the revenue in question would onlyhas'e .amounted in 1858 to c622,i00,000. wImm-ors it' actually ]H-oduc- ed as much as j64l),087,703. or upwards of £(),500,- 000 more tlia.ii in 1842, notwithstanding the above (Miormous reductions. NATIOXAI. PERT. 5. The National T>el»t. which amountr'd in 1842 to C701;2r)0.110. dccrcasc'l continunlly ,S{)\. Ill coiisc- (|uen(U' ot" tlic Rilssiim war it hnd iiicreasod }ip,'aiii to' £808,000,000 in 1850, l)ut once more (liiiuiiislied to the extent of i:3,500,000 by 1858. STATE OF THE XATIOXAT. FrXAXCES. 0. In 1842 tlio expenditure exceeded tlie income bv X3,070.531). In the eleven vears between tJiat date and tlic Russian war, there were onlv two years Wiien tlie ex])enditure was ^'rcatertliau the income. In the otlier nine, the snr))his of income was on the avoraojc between £2,000,000 and X)3,000,000 a year. The Russian war caused a deiiciency for three years, in one of wliich (1855) it was as great as X2 1,140,000. In 1858 tlie income ai^'ain exceeded the expenditure by £1,127,057. Tlio expenditure in 1858 was £9,7ai),720 .i>'reater than in 1842, but the income was £14,840,02.5 greater. SIIIIMIUTLDJXC. 7. The tomiage of ships built in 1842 was 129,- 920 tons, of Avhich 13,71(') tons Avere steamers. In 1858 there were built 208,080 tons, of which 53,150 tons wer'^ ^'^-^aniers. ' I5AXK OF EX(;LAXn. 8. The deposits in the Bank of England at the (Mid of 1842 amounted to j£9,00a,000; at the end of 1858 to £20,490,000, or ml^^ more than double, Its assets increased, in the i-j.uiie time, from £W,- 890,000 to £45,083,000. EFFECTS OX THE SOCIAL COXDITIOX OF THE rEOFLE. SAVIXCS BAXKS. 9. The capital of Savings Banks in 1842 was £25,319,330 ; in 1858, £3M93,400, an increase of nearly one half. This is a conclusive proof of the increased prospei-ity of the working classes since the introduction nl' Free Trade. LM I'.Vri'KHlS.M, 10. Ill the year 1S42 ((jiidiii.!;' Maidi In I;;.) wilh 5111 o,sliiiintL'(l popiilalioii of KJ.ltM.OOO, the ainoiml I'xpciMlcd ill I^]iin-laii(l and Wales for liic i-clicf of tlic poor, was i:r),"2l)S,Q27, l)eiii,i;' ;il llic rate d' ()s. old. per licad. In tlio year JSoS, willi a populaiioii of l<),r)78,000, tlie ainonnt expended was l*.").r)."')S,i;S!>, or 5s. Sjd.per liead. Had tlie ])0()r-ral('s inci-eaxMl ill proportion to tlie population, lliey would liavr anionnted in the latter year, to ^r).2')().0(Mi. niTMH. 11. The number of ooinmittals for trial in Kn-Iaiid and Wales in 1842 anumnted to :>l .:>()*.). In is.hS. notwithstanding' an increase to the populaiioii of 8,400,000, the connnittals had falhui ofl' to IT.S.V"). In the former year, 193 persons out of every l(M),Ol)0 were tlicrcforc p'ave oltendei's a,<;'ainst the law : in the hitter, only i)], or less than lialf. It should he stated, however, that a portion of this most salis- faetory diminution in the number of committals is owing to tlie Criminal Justice Act of is')-"), w liidi antliorizes Magistrates to convict sunuiiarily ii tain cases, with 1 lie <'onoent of the prisoiier,- to the Juvenile oilend'-rs Act. EFKi.CTS ON' PT^ODUCEIIS, (a) Wheat. -The!' Dititiesofhome-gmwii wheat returned, as sold .ur markets in JS42, wvvo, 4,001,235 quarlcrF, aii-i In 1.^58, 5,203,01S cpiartcrs, exliibiting an inciV;ased flemand for l^nglish corn under Free Trad'^ lo th > extent of more than 1,000,000 quarters. The average price in tlie for- mer year was 5Ts. 3d. per quarter ; in the lalter. 44s. 2d. Tliat Farmers can get as liigh a ]>ricc under Free Trade, while the country is jtrospoi-ous, as under Protection while it is badly off. is shown by the fact that tlie average jnice in (worcconl, years (1851 and ISi'Ki) was 72s. r>.|. and 71-. .^d. p* r cor- aiid i ('I i i' \l il [ '•• 1 i f|ii;ii'l(N". 0 [)or cent, has boon rc'liKMwl to 15 per cent. The exports ot'Hrltisli luiuiiit;' 'lured silks, wliieli aiiioinited, in 1(S42, io £.V.)0.1S<). inci-eased, in IS.58. to £2.0m),300, andin Is:,!; and 1857 were as miicli as JE2/.)00,()()0. Until ls2(') t'orei.iiii silks were entirely prdliihited ; but aUlinii'xli the l>rltisli manut'aeturer had a coinph;t«i monopoly of the home market, the trade was tar (Voni i)ein;'j,' pi'osperous, the ex[)orts only averaging; about Ji'6')i),\)i}{) per annum. (<•) \V^jor.. — 111 1S42 lbreii'"n wool was subject I.O II duty of from ,\d. to Id. per lb., while Colonial wool was admitted dutv free. In that vear 18,4^0,710 II )-^. of Colonial, and 27,:-3*J4,l)20 lbs. of lbrei;^-u wool were imported. The protection with wliicli it was I iiu;wittempteLl to nlirture the hoiiie and Colonial producer was entirely al)(»lished in 1844 ; ami in L'?.')S, wliiJe the importations (>f forei};*n wool had iu -reased to 41i52T,()241bs., or only one half as much a;^aiii as in I 42, the importations of Colonial wool increased to 85,21 1,099 lbs,, or between four and live times their former aitidtint; dt!S[)ite the loss of ;!!l protc'ctii)!!. The production of wool at honu^ 'las also iur^'ely increased at ^he same time. But so great is the ])Owdr df c mj»tion under Free Trade, that notwithstandinj;- jdl this increase oi' fupplv, the demand has i"aiseh{iMi. — Foreign sugar remained prohibited iu lS.12. Colonial su'^'ur navim;- 25'. 2d. vvv cwt. I TOP, eon tisli I ill ntil l)Ut tar pup; I • .1 S Mi'i' (Ik'Ii lorriu,'!! Mi.rur Ims lu-i'ii ;iiliiiilti il jo compete with (\)!(.)iii!il. and (lie duties on id! ; ii,L.'.;n' Inve ])oen jLcreatly reduced, ;nnl llie coiisuuiptioii, ■Nvliicli ninouutedju IS^l! to 1*.)IH23 loiis. iut'i'easiMl iu 185S to 424,r)-23 tons. Of tluit amount I'lUl^s tons wore i'(>reip:n sugar, A\diich it wa> ))r((liclod would drive Colonitil suii'ar entirid\ oiii of i!u' Jiiarkot, tlio remaining;- 20S,']t>r) tons coniiii^u IVoiiimir own Colonies, wliicli,inste;ul of beiuLi* rrliicd bv com- ])otition,acnt us nearly oDper cent, more tlmu iwv. It would be easy tomnlti[)ly illuslrii.rions i(» swell the above lig'ures. In tact, (lie dillicull} rnlinT i-. to .select i'roiu the vast mass of evidence ol' exciy kind tliat has accuniuhited, a!id lliat coniimn-' in accumuliite, to testiiV to (he incalculabl(.- l.'eiielii< that in the sliort space of tit'teen or sixtee]i years liave accrued to tliis comitry from the prac; ii id adoi)tion of the princi})les of Free lr;;de . ui-, lo speak more accurately, from the reversii^n to.i;e simple preci'^)ls of Nature, which lia\c been so well epitomised by a groat Frenchnnni, in ii\i' sliori wortai'yed. EXPUllTS AND IMPORTS, OFFICIAL VALUES. Tlio ollicial vahie of British and Foreign and ( 'olunial ex[)orts and imports combined were as follows in the vears 1842, 1853. and 1863 res- poctivelv :— 1842 £179,095,088 ]S5.'5 365,171,537 isr,;; 485,027,:)40> IMPOJM'S, OFFICIAL VALUES. ()t' tliese aiiionnts the qffici(d values of the i I 'I j !())'/■'< were : — J842 £ 05,253.286 1853 J23.099,313 ]8G;5 171,913,852 EXPORTS, OFFICIAL VALUES. Dining the saine years the corresponding vahie?* of the exports of British and Irish and Foreign and ('<)loiiial merchandise were : 18 12 £113,841,802 lSr)3 242,072,224 18G3 313,113,188 OFFICIAL VALUi; OF KXPOUTS Of maXISK AND IRISH MANU- FACTURES, "^ Of tlicso amounts tlie ; , v-...i vahie of the pro- " ovMnvfsj of j^ritisli and Irish manufactures A'c, was 'xpor 1842 £100,255,380 1853 ,. 214,327,452 1SG3 258,198,551 IMl'OUTS, HEAL VALUK. 'i'lio roal vahie of British imports can only be asccrtaiiiod since the vear 1854. In that year they amounted to X'ir)L>,3S<)',053, whilst in 1803' they had iii(Toas(Ni lo .f248,()So,942- IM HP I ill re- the it ion til KXl'ORTS, KHAL VALUK. The real values of the exports tVoni tlie Unitoc] Kingdom in the years 1854 and 1S63 were : — 1854 .*. £115.821.092 18G3 190,002,400 The real values of these exports cannot be given previously to 1854, as such values of Foreign and Colonial merchandise were not ascertained until that year, HEAL VALUE OF EXPORTS op IJIUTISH & IRISH MANUFACTURES, The real values of ex])orts of British and Irish manufactures during the years 1842, 1853, and 186B respcctivelv, were ; — 1842....* £47.381.023 1853 98,0:{:{.781 1863 146,489,708 The immense development of this branch of our commerce during recent years will be more readily appreciated when it is remend)ered that the figures for the year 1842 are but little in excess of the average value of our exports during the thirty preceeding years. JIEAL VALUE OF EXPORTS OF FOREIGN AND COLONIAL PRODUCE. In the years 1854 and 1863, the real values of our exports of Foreign and Colonial merchandise were : 1854 £ 18,636,360 1803 40,485,005 IMPORTS CP A' ^"^"S OF CONSUMPTION. The quantities of' rious principal articles of food below mentioned, end now admitted duty free, were as follows for the three periods : 1863. JiorneU cattle N'^. Sheep, " I?!XCon & bams, cwt=. liutter " %g8 No. Uice cwis. •| prohibited > 8,355 175,197 89,548,747 511,414 125,253 359,420 205,607 403,289 123,450,678 1,504,620 15U,H98 430.788 1,877,813 086,708 266,920,080 3,070,292 U- ( *'" Ki I^f ^mmm Hi ("i mpi [10] The (ju;nititi(!s retained for coiisnmptioii of tlio f()ll()\viii,i;' articles, wliieli are still subject to Custoiiis (liitics, Averc ; — 1842. 1853. 1863. ('ocoii . lbs. • . rwt. . lbs. • 2,240.569 28,519,040 3.808.437 37,355,911 22,013,140 -"-4,815.222 3 997,198 30 933 122 7,2 72 833 58,834,087 29.348,508 6.813.830 3,712,287 32.762.995 9,202,524 85,183,283 36.751,173 10.422,105 CofTeo ►Sufysir, ruw Tea, Tobaicco, iinniiui Tifaclnred AVine HEAL VALUE OF EXPOItTS OF MOST IMPORTANT AUTICLES OF IIUITI II MA.VUFAorts and Exports;, II must be borne in mind tliat tew countries liavc yot comprehensively adoi)ted a hberal commereinl ])olicy, and that, conse(}uently, tlie measures m. ('hat direction, Avhicli liave ah'c-ady been for some > oars fully applied by Great J>ritain, cannot b* ^;;dd to enjoy the conditions uecessary to tlu >om pletc development of the system. navi(;atiox. The tonuap;c of British and Foreign vessels ■which entered and cleared in the United Kingdom with ccmjoes. in the years 1842, 1853, and 18G53, res- pectively, was : — - 18 Pi 1 ous. 5,415 821 1,930,983 1853. 18C3. iJrilish '1 ons. 9,0(54,70.^ 6,31f),456 Ton.s. 15 26,3.047 Foreisn 7,762,ll,!t29 20:^,171 24i,:^i>i» In addition to the above, the following amount of foreign tonnage was registered in the United King- dom :— Tons. lono 1842 185:5 :{(),07;^ 18G2 « 74,G2 following years to : — £ 1842 22, 771. .".IT) 1853 22,r)()(),443 18G3--G4 2;{.232!0U0 During the same interval tlie exeess ot'recUution of Customs duties above tlie amount im])osed u as : 1854-G3 4.4r)8,lG0 Thus during the whole interval the custi^ns duties hfive been reduced by £14,624,915, whilst the revenue prod' "^ed, instead of being dimiuishcd, exhibits an actual increase of c^4G0,G8o. EXCISE REVENUE. The gross amount of the duties of excise in t.hc vears 1842, 1853, and 1863 were ; , 1842..... ..* 14,GI(>.U8;{ 1853 ^1^. 10^303,237 18G3-G4 ^^|P^ 18,207,000 The rolativt? addiiion.s «tjail diir-uiutions during tlic same periods wei i^ ; --^ \ \ been ;tions vear Cus- lount- ivelve on. lS42-r)3 2,48. ,000 lictluccd. 1854-53 \.Vi^ .000 Imposed. E.vcvss of Ex' i^' .;■ d i,2U0.0O0 Mnhig the \'.'holc pci ., thoieforo, the actuMl i!u-r»MiPo ol' the exci.-o revenue was £3,590,917, oi" uinvaHl-^ of 24 V per cciii:. r-nt^^ liK,- I3rE or T::F r NlTiiD K]N(J1)0M. ^riif u'j ,1 net receipts'of tlie revenue of the United Kinc'dttju hiring tlie three vears were as i'olU)Ws ; £ i^'42 52,7G3.147 !. ,-.3 r.H.!>G2,5l3 1853-04 7o.72I.Hii<— ir H I 1 11 > ii I ' .ll ! i l-l [14] The p;ro8S rovenne had, tlieicfbrc, increased during the ag};Te»;ate period from 1(S42 to 18()3-()4, .£17,958.745, or 554 per cent., and iliat tin's increase was not due to aiigincnted taxation is made evident by the following statement : — Kxcess of Amount of Taxation Repealed over the Amount imposed during the periods 1842-5)] alid 1854-6;]. £ 1842-r)3 7,U:),08«^ 1854-(j;{ 4,-107,!Mj(j Kxocss of diminution ll,r>8.'{,J»52 or upwards of 20 per cent, of the taxes existing in 1842. KXPEXDITURK. Tlie expenditure of Gr^at l^ritain.Avhicli amount- ed in 1842 to X55,223,874, was in 185;],X55,700,252, and in 1803-64 X67,856,280. ' NATIOXAi. DEBT. In 1842 the amounts ot*the unredeemed funck^d and of the unfunded deM. were respectively ; — Funded TTIJ.OCH.rUO rntunded 18.182.100 "'m: — : — : — Total 7J>1.2r>o,440 In 1853— £ Funded ..TOl .022.704 t'nfuuded ^.v ... 1 7,742,000 v' , Total..?. 770,:JG5.204 In 1863— Funded 777.42^224 I'nfunded i:?. 136.000^' Total 7l>0.r.Gr),224 ^,r ^ In conts'equence of the actual or approacln'iig termination of variiuis annuities the amount of ihe debt has been considerablv lessened. The esti-- :-■} [15] mated capital value of these annuities lias not ])ee computed previously to 1855. Since that date, liowever, they stand as follows ; — £ I8r)4-r)r> 2g.7<>h,244 i8f;2-G3 I7,7r)7,i8:; Difference 9,000,001 The whole amount of the debt stands at present, tlierefore, almost the same as in 1858, whilst the actual funded and unfunded debt is now less than it was in 1842. Board of Trade, September 9, 1864. ■;»• It ■ f '4 S3IBS ■MMMM I ?^V if/ ■ ,' '' ■■■I I 1 i > n Shiiiuiviil sl/niriiHj Uiv IJ/fccf of a Dinunidion ui fni- port Ddiics oil certain artidcs ypou the cnnount of RcvcHNc rcci'ii'cd on those articles. Sii^iir. . rnfTeo, 1821 i.s;n IH')!) 1801 1811 1821 1831 18 t{) .182 1849 lOxciscanty) 1821 on I'iiper. { 1849 Kxciscduty ) 1821 on ^oi\]>\ ) 1840 Bi'ivv.v.v. . . Rate of Duty. Quantity Consumed. •1. 27 24 11 1 1 22 15 H n M ]\ G < G 4 7.1 per gall ])er cwt. per lb. a per 11). u .3,5.30,302 CAVtS, 4,233,509 " 0,220,004 " 7.50,801 lbs. 0,300,122 " 7,327,283 '' 21,841,204 " 34, .300,374 - 1,013,400 galls, 2,187,801 " 48^204,027 lbs. 132,132,057 02,041,326 197,032,280 Amount of lleveuuc. £ 4,077,700 4;050,5aa 3,000,003 .50,315 180,378 384,283 583,751 500,822 1,031,217 1,040,488 579,807 850,575 1,023,530 1,020,080 Customs and Fxcise ThiHos collecVjd in 1821 £38,705,814 Deduct Duties repealed and rC(fijj^.»l between 1821 and 1840..-.lf>;.- ..^., 27,801,067 ■*.-„,% leaving to be collcotod >ii 10,904,147 IJut tlie unrepealed Duties a*; olK produced in 1849 34,022,284 I I he computed So that the sum received \h> aniount was ,' ^ «■ 23,058,137 ^A' 1 ■ I'l Norr,. — Tlie amount of Kcv statements will not be found tr p;iven rates of duty. The rg.* represent tiic duties charg^ Possessions only, Avhereas, bi_ ^ _. j . higher rates on the produce of foreign countries, v.'he. amount of Hevcnue is increased. On the oth" h ich of the foregoing .1 the quanti.'-es 't e, cts Sugar and Co*' jp^ le produce of 3ri K' J part of the duty i«( r t le qucntly hap)»ens that allowances have to be mad&y^^^-*^ ciiant Avhich reduce the Hevcnue below what it w^'" ))y computation. I Dgoing 't G t I' - 4 •*■ ■# r'^^ 'f* - 4 '\ .■■$■ SI- y. i- ?■*-'; # 4V I -^>' J M ,.='^'*;