318 
above the quantity and value export- 
ed. By a return laid before Parlia- 
ment in the session of 1822 (Paper 
No. 274), the excess of quantity im- 
ported from the East Indies and China, 
West Indies and Fisheries, in the 
three years 1818-20, over and above 
the quantity exported thence, is'repre- 
sented at no less than 24,644,818/. or 
an average of 8,214,939/. per annum ; 
and, taking that as the average of the 
seven years, since the fiual termina- 
tion of the war in 1815, it will make 
an aggregate excess of export, to all 
other parts of the world, over and 
above the imports, of upwards of 
190,000,000/.; and, taking the annual 
average excess of imports from the 
East Indies and China, the West 
Indiesand Fisheries, during the twenty- 
seven years, 1789-1815, at 6,000,000/. 
per annum, which will be certainly 
under the mark, it will make an aggre- 
gate excess of quantity exported to all 
other parts of the world, over and 
above the quantity imported from 
thence, of upwards of 426,000,000/. 
It naturally will be asked, How has 
the inordinate excess of export been 
equalized? What equivalent have we 
received for it? Before I offer any 
observations on this part of the subject, 
I will first call the attention of your 
readers to the proportion of quantity 
imported and exported at different 
periods. 
On an average of the six years, 
1798-1803, the annual imports will be 
found to amount to 29,578,490/. ; and 
the annual average of British produce 
and manufactures exported in each 
year, during the same _ period, to 
amount to 23,840,865/. Whilst in 
1822, the yuantity of British produce 
and manufactures exported will be 
seen to have amounted to no less than 
43,558,490/., nearly double the average 
of the former period; whilst the quan- 
tity of merchandize imported in 1822 
is actually Zess than the annual average 
of the former period, being only 
29,401,807/. There are, nevertheless, 
those who contend, that the manufac- 
tures and commerce of the country 
are in a flourishing and prosperous 
condition. The fact is, as far as the 
statement in question justifies an infer- 
ence being drawn, that, on a compa- 
rison of the two periods, only twenty 
years distant from each other, we have 
given two, or nearly so, for one 
received; and, if such aresult can be 
deemed a favourable and prospcrous 
Exposition of our Commercial System, 
[Nov. Ty 
one, it must depend on some contin- 
gent or collateral circumstances for its 
solution. . Let us see, then, if any such 
contingent or collateral circumstance 
can be brought to bear upon the ques- 
tion favouring such a conclusion. 
It appears, by the same parliamen- 
tary documents from which the State- 
ment herewith has been compiled, that 
the declared veal value of British pro- 
duce and manufactures exported an- 
nually, on an average of the six years, 
1798-1803, was 40,322,381/.; that is, 
23,840,865/. of quantity or official value 
was declared to amount in real value 
1o 40,322,3817. Whilst the quantity of 
43,558,4401., in 1822, was declared to 
amount in real value to only 
36,176,897/. or in the proportion of 
only 19,800,700/. real value, instead 
of 40,322,381/7. for a quantity of 
23,840,865/. as on an average of the 
six years, 1798-1803. As far, there- 
fore, as the real value seems to bear 
on the question, the disparity seems 
to diminish; and, if it can be made 
to appear that the imports haye in- 
creased in value in proportion as the 
exports have decreased, and if it can 
be further made to appear that the 
imports have not merely increased. in 
value nominally, but thet they have 
actually increased in value intrinsical- 
ly, and that the exports have actually 
decreased in intrinsic value ;—why, 
then, it is possible that we may have 
obtained our quid pro quo in quality, 
instead of quantity ; and, as such, it is 
possible that a flourishing and prospe- 
rous conclusion may be drawn,—that 
is, if it should be made to appear that 
we have been increasing our quantity 
given in something proportionably 
valuable to silver only, whilst we have 
been receiving something proportion- 
ably valuable with gold: why, then, a 
good probable case is made out. 
To come, however, at an incontro- 
vertible conclusion on the subject, we 
have not merely to take into conside- 
ration the terms quantity and value, but 
that we have also to consider quality. 
There is another circumstance, alsa, 
which perhaps will have some relation 
to the subject, and that is taxation. 
The annual average amount of the 
taxes in the six years, 1798-1808, was 
83,670,195/. whilst on. an average of 
the six years, 1818-1823, they will be 
about 45,000,000/.; with this difference, 
that in the first period they were pay- 
able in a valueless or paper currency, 
and in the latter period again in a 
currency 
