METAPHYSICAL ELEMENT IN STATISTICS. 118 



temperament, as they are well informed or partially informed. Their position, tempera- 

 ment and intellectual condition would all aftect their notion of value. Even in the case 

 of such staple commodities as are dealt in on 'change, and for which there are daily quo- 

 tations, the -value of one day differs from the value of the next. But the ship, we will 

 suppose, contains numerous articles that are not quoted on 'change ; objects of curiosity, 

 fancy goods, and manufactured articles from foreign countries, works of art, antiquities, 

 rare specimens of plants, animals, and such like. What is the value of these ? The 

 answers to this question would reveal a far wider divergence than the answers to the 

 other, and obviously there is room in such matters for a wide divergence of opinion. 



6. The diflerence and variations hitherto sjDoken of have been matters of intellectual 

 computation or opinion. But, as life is constituted, other elements are apt to appear and 

 to affect the result. Let us suppose, for example, that there is rivalry between the great 

 ports of the kingdom as to the extent of their trade, and that comparisons are instituted 

 based on the estimates of a given year. Is it not certain that the largest estimates will be 

 taken, and that where there is doubt the benefit of the doubt will be thrown in to swell 

 the return ? Particularly will this be the case if political power, in the shape of a greater 

 or lesser number of members of Parliament, were made to depend upon it. 



On the other hand, let us suppose the question to be one of taxation, not only with 

 regard to certain well defined articles, but with regard to all articles whatever. In that 

 case the tendency would be to minimize, instead of to magnify, and the benefit of the 

 doubt would be taken in the other direction. 



*7. But whatever room there might be for difference of opinion as to the contents and 

 value of ships in port, it would be immensely enhanced were the whole area of the city 

 to be included in the computation. The number of houses would not be difficult to count. 

 It would be more difficult, but not impossible, to make an accurate inventory of the con- 

 tents of every dwelling, warehouse, shop and building in the city. But when the ques- 

 tion of value came to be determined, it will be at once seen to be a matter of opinion, and 

 that there would be room for differences of oi^inion to the extent of millions of pounds in 

 estimates respecting ships and real property alone. The enormous masses of merchandise 

 in wholesale warehouses or retail establishments would give rise to much larger differ- 

 ences. It is probable that differences in the estimates of the value of ships in harbour might 

 amount to as much as forty per cent., in the value of the cargoes thirty per cent.' Even 



' While writing this an instance of a difference of opinion as to valuation of shipping property has heen the sub- 

 ject of pubhc comment. In the recent annual report of a navigation company its ships are valued at certain 

 fi'.rures. But in the report of an inspeclor for tlie government very different figures are found. Some of these 



differences are as follows : — 



Cumpany's In>-pGctor's 

 valuation. valuation. 



Steamer " A." £ 34,400 £ 17,40(i 



"B." 27,800 11,600 



"C." 2.5,000 13,200 



"D." 17,300 11,400 



"E." 16,000 9,000 



"F." 16,700 9,000 and so on. 



But the figures in both cases are really theoretical. The company, in all probability, enters the ships at what they 

 cost, with deductions from time to time for wear and tear, etc., and, no doubt, if challenged as to the accuracy of 

 the figures, they would state that the ships are worth so much to them in running order. On the other hand, the 

 inspector, looking at the object from a diflerent point of view, has an entirely different mental conception raised, 

 and puts down certain figures which, in his judgment, the ships are probably worth, if sold at auction or bought 

 at forced sale. 



