

COMMERCE. 



195 



Oswego, in addition to the quantities sent 

 by rail. In the last year the decline was very 

 considerable', as well in wheat as in corn. The 

 rise in price, however, compensated in the 

 value of exchanges. The rate of freight was 

 also well sustained, and the vessels and tonnage 

 of the lakes were as follows : 



Steamers.. . 

 Propellers.. 



Barks 



Barkatines.. 



Brigs 



Brigan tines. 

 Schooners . . 

 Sloops...... 



Barges 



Loss by disasters sailing vessels 

 " " steamers 



The average price of crude was 30.4 cents. 

 This very large business has grown up in the 

 three last years, and as the use of the article 

 spreads in Europe, it seems scarcely to have a 

 limit to its future growth. 



The operations of the Confederate cruisers 

 have had a strong adverse influence upon the 

 commerce of the country. The arrivals of ves- 

 sels at the port of New York were as follows : 



1861. 

 1862. 

 1S63. 





Of which 

 Is. Br. ressels. 



5,122 

 5,487 

 5,129 



1,449 

 1,919 

 2,280 



'HEsengers frtmi Pfts?. from 

 foreign ports. California. 



9,11T 



7,421 



11,561 



80,790 



94,607 

 178,727 



One of the most remarkable features in the 

 export trade was the rapid increase in the 

 quantity of coal oil or petroleum, shipped as 

 follows : 



Export of Petroleum. 



The freights in American bottoms became 

 very unsafe, and the majority of goods were 

 carried in foreign bottoms. The sales of Amer- 

 ican vessels to foreign nations were numerous. 



The cotton trade of the United States being 

 cut off, there has gradually been produced a 

 most extraordinary change in the commerce 

 and financial condition of Europe. The great 

 rise in prices in Europe, consequent upon a 

 short supply of cotton, naturally gave an im- 

 mense impulse to its production in all parts of 

 the world. It also diminished the local con- 

 sumption of the article, and urged shipments 

 from all quarters to the common centre, Eng- 

 land, for the supply of the workshops of Eu- 

 rope. The general tendency is seen in the im- 

 ports into England for four years : 



Thus, the whole quantity of cotton obtained 

 was little more than one third of that before 

 the war, when seven eighths was supplied by 

 the United States. The other countries, in- 

 cluding Egypt, had been enabled to double 

 their production, under prices which have risen 

 as follows, at Liverpool, for middling : 



United States. Brazil. Egypt K. Indies. 



1861 7 8J 7* 



1862 13} 13J 12* 



1863 27* 27* 27J 



This enormous rise has brought forward 

 large supplies, with the drawback upon the 

 production that the moment the American war 

 should cease the product would become un- 

 salable, since the accumulated American cot- 

 ton would everywhere have preference. 



Meantime the amount of money that must 

 be paid into new channels for the produce of 



cotton, is apparent in the following figures of 

 the value imported into Great Britain, render- 

 ing the at $5 each : 



Cotton imported into Great Britain. 



7* 

 20 



Thus, in 1861, England bought 1.262,607,800 

 Ibs. of cotton for $197,886,985, and this year 

 she has been obliged to pay as much money for 

 only 431,085,300 Ibs., or little more than one 

 third the quantity. This is, however, not the 



