378 



GREAT BRITAIN 



The following table shows the ratio of British 

 and Colonial tonnage in the world's shipping : 



however, is found to make three ocean voyages or 

 six short trips in the same time that a sailing- 

 vessel takes for one ; we must therefore multiply 

 steam tonnage at least by four, to arrive at the 

 carrying-power. The following table makes this 

 allowance, and under the head of Effective Carry- 

 ing-power it will be observed that the shipping of 

 the British empire has multiplied six and a half 

 times since 1840. Reference to American statistics 

 shows that in the same interval the sea-going 

 , shipping of the United States increased in nominal 

 tonnage only 200,000 tons, or 25 per cent. 



The carrying-power of the British merchant navy 

 (including colonial) in 1887 was 22,000,000 tons, or 

 considerably more than the total carrying-power of 

 the world (21,300,000 tons) in 1870, since which 



year the British merchant shipping has doubled. 

 It is now almost equal to the total effective tonnage 

 of all other nations in the aggregate. The above 

 table gives the following result : 



In the above table British includes colonial 

 shipping. If we compare the merchant shipping 

 of the United Kingdom only with that of other 

 flags we find : 



Year 1887. 



Nominal 

 Tonnage. 



United Kingdom 7,340,000 



United States 4,130,000 



Germany 1,285,000 



Norway 1,524,000 



Canada 1,078,000 



Russia 1,025,000 



France 993,000 



Italy 946,000 



Spain 594,000 



Sweden 517,000 



Australia 349,000 



Holland 286,000 



Denmark 273,000 



Austria 262,000 



Greece 262,000 



South America 253,000 



Other Countries 785,000 



WEALTH. Comparing Porter's table for 1840 

 with the estimates for 1860 and 1887, we find as 

 follows, in million pounds sterling : 



1840. 



Railways 21 



Houses 770 



Furniture 385 



Lands-. 1680 



Cattle, &c 280 



Shipping 23 



Merchandise 70 



Bullion 61 



Sundries 810 



Total.. 



4100 



348 



1164 



582 



1748 



350 



44 



190 



105 



827 



5358 



1887. 



831 



2640 



1320 



1660 



414 



130 



321 



143 



9228 



In the above table land in 1887 is put down at 

 1560 millions, whereas the official valuation at 

 thirty years' purchase, as already shown under the 

 item agriculture, is 1873 millions ; but it is gener- 

 ally admitted that the official valuation is twenty 

 per cent, over the real value. 



The increase of wealth from 1840 to 1887 



was 124 per cent., or three times greater than 

 that of population. The annual accumulation 

 averaged 64 millions sterling between 1840 and 

 1860, and 143 millions between the latter year 

 and 1887. Wilson estimated the accumulation in 

 1840-45 at 60 millions yearly ; Giffen, in 1880, at 

 150 millions. Houses constitute the largest item 

 of public wealth viz. 2640 millions sterling, 

 the value being taken at twenty times the assessed 

 annual rental. In this item alone we see an in- 

 crease of 1870 millions since 1840, the nun) her of 

 new houses built between that year and 1880 being 

 2,218,000 say 55,000 yearly. It is probable that 

 new houses represent only one-third 01 the increase 

 of value, as the old ones (4,430,000) have likewise 

 risen. Allowing for houses built since 1880, the 

 number and value would be approximately thus : 



Built before 1840 4,400,000 



Since 1840 2,700,000 



Total in 1889 7,100,000 



1730 

 910 



2640 



393 

 340 



The value of house-property per inhabitant varies 

 in the three kingdoms : 



s. per inhab. 



s. per inhab. 



England 77 



Scotland 62 



Ireland 12 



United Kingdom 71 



London 156 



Liverpool 114 



Glasgow 100 



Dublin 44 



The value of house-property for the whole United 

 Kingdom in 1840 was only 30 per inhabitant. 



Furniture, according to insurance agents, aver- 

 ages half the value of houses ; this item includes, 

 moreover, pictures, clothing, jewelry, and carriages. 



Lands. The value under this head has been 

 explained already under Agricultural Statistics. 



.Railways are the fourth item of national wealth, 

 the above statement of capital employed being 

 from official returns. Since 1860 nearly 20 millions 

 yearly have been thus invested in the three king- 

 doms, of course excluding similar investments 

 abroad, which are comprised under Sundries. 



