BAIT-FISH EXPANSION AND CONFLICT 239 



ANNUAL VALUE OF EXPORTS x 1,000. 



Cod 



Seal 



Herring 1 



Lobster 



Whale 2 



Salmon 



Total products of sea 

 Total land products, 

 ante, p. 182 



Total of principal pro- 

 ducts exported 



Total exports ( average ^ 



Total imports (average) 



1 I add frozen herring as per Newfoundland Bluebooks (which omit 1881). 



2 Includes bone. 3 Excludes Labrador before 1886. 

 4 Taking the dollar at 4.?. i d. 



The lists of imports in the last line of the Table are given Exports 

 for purposes of comparison. In all healthy colonies or^^ 



young states there is a normal excess of exports over imports, and public 



, f debts are 



and the net excess between 1851 and 1871 was 2,150,000. bcingrc . 



During this period the State debt was only a little larger than paid. 

 its annual revenue, and there was but little other debt of 

 a public character. Next, came a period of large expendi- 

 ture from loans on railways, docks, telegraphs, and other 

 public works by private capitalists and the State, in con- 

 sequence of which between 1872 and 1894 imports exceeded 



