THE CHBEONTEERE. 
ever known in any preceding pe- 
riod. The value of the exports of 
the laft year, amounted, according 
to the valuation on which the ac- 
counts of the infpector-general are 
founded, to 30,424,1841. which is 
more than double what it was in 
any year of the American war, and 
one third more than it was on an 
average during the laft peace, pre- 
vious to the year 1792; and though 
the value of the imports to this 
country has, during the fame pe- 
riod, greatly increafed, the excefs 
of the value of the exports above 
that of the imports, which confti- 
tutes the balance of trade, has aug- 
mented even in a greater propor- 
tion. 
It is particularly obfervable, that 
the exports to Germany alone, for 
the two laft years, have amounted 
to more than $,000,000l. annual- 
ly; when in time of peace they did 
not ufually amount to more than 
31,900,0001. And thofe exports to 
Germany exceed an amount, by at 
leaft 2,600,000. the whole that was 
annually exported in time of peace 
to France, Flanders, Holland, and 
Germany. . 
The Houfe will fee in the evi- 
dence of Mr. Irving much infor- 
mation, for the purpofe of fhewing 
that all our principal articles of ex- 
port, particularly thofe which con- 
fift of Britifh manufactures, are 
greatly under-rated in their value, 
as well as many capital articles of 
import. Coffee is the only mate- 
‘ial article which appears to be 
over-rated in the books of the in- 
fpector-general,; it is more over- 
rated on exportation, than on im- 
portation. The valuation upon 
which the accounts of the infpec- 
org neral are founded, was fettled 
in the year 1696 or 1697, when the 
1oI 
prices of all thefe articles were 
greatly inferior to what they are at 
prefent, and before our manufac- 
tures had received the improve- 
ments which have been made in 
them of late years ; fo that the real 
value both of our imports and ex- 
ports, particularly of the latter, is 
certainly confiderably higher than 
is {tated in his accounts. The 
Houfe will alfo fee many excellent 
obfervations, in the evidence of this 
gentleman, for the purpofe of cor- 
reGting the manner of taking the 
true balance of our trade. He ob- 
ferves, that in forming this balance, 
many articles of import are ftated 
as unfavourable to this country, 
when they are, in fact, acceffions of 
wealth, fuch as the produce of our 
various fifheries, and a confiderable 
part of the imports from our pof- 
feffions in the Eaft and Weft Indies. 
The whole of the produce of thefe 
fifheries is certainly an acceflion of 
national wealth.. So much thereof 
as is imported direély into this 
country, muft be confidered as an 
increate of ftock to it: the value of 
fuch parts as are fent direétly from 
the fifhing places to foreign coun= 
tries, and fold there, is either res 
mitted in bills of exchange, which 
is wealth; or it is laid out in the 
purchafe of commodities, to be im- 
ported into this country, which is 
an increafe of ftock. This produce 
is procured, not by any wealth fent 
from this country, but by the ad- 
venturous enterprize of our fifher- 
men; and the value of fuch pro- 
duce, when it is fent directly from 
the fifhing places to foreign coun- 
tries, cannot appear in any cuftom- 
houfe account. In like manner, 
a confiderable part of the imports 
from the Eaft and Weft . Indies 
ought not to be ftated, in the ba- 
G 3 lance 
