CHAPTER II. 



THE PERIOD OF EXPANSION AND OF WAR, 1791-1814. 



In the first flush of success Americans had felt that their trade 

 with Canton was destined to expand indefinitely. It soon became 

 apparent, however, that a limit would speedily be reached. The 

 chief article of importation from China was tea, and its con 

 sumption in America was limited. Restrictions placed on its 

 importation to Europe and the West Indies were practically 

 prohibitive, and any extensive attempts to evade them were not 

 to be thought of. 1 



Moreover, there was great difficulty in getting commodities 

 with which to purchase cargoes in Canton. Through the cen 

 turies, Europeans had gone to China as to the rest of the East 

 in quest of its teas and silks, while but few Western products 

 could be found for which there was a return demand. The 

 balance of trade had been met by heavy shipments of specie, a 

 drain which had long been a cause of concern. Not until after 

 1825 or 1832 when China had cultivated her appetite for opium 

 was the current of silver stemmed. 



From the very first the Americans had faced this difficulty. 

 For a time they had hoped that in ginseng they had found a 

 product which would supply the need, 2 but before long it became 

 apparent that the demand for the root was limited, and that 

 specie must be exported extensively to make up the deficit. 3 



1 Letters of Phineas Bond, p. 545, September 2, 1787. 



2 Shaw s Journals, pp. 229-236, 301, sqq. 



3 The following table, taken from Pitkin, Stat. View (1835 ed.) p. 303, 

 and taken by him from the Register of the Treas., Washington (except 

 for 1826-1832 which are from a Canton paper) show the proportion of 

 specie exported to Canton from 1805 on. 



BILLS ON 

 YEAR SPECIE MDSE. YEAR SPECIE ENGLAND MDSE. 



1805 $2,902,000 $2,653,818 l8l9 $7,414,000 $ 200,000 $2,603,151 



1806 4,176,000 1,150,358 1820 6,297,000 1,888,000 



1807 2,895,000 982,362 1821 2,995,000 2,397,795 



1808 3,032,000 908,090 1822 5,125,000 3,067,795 



1809 70,000 409,850 1823 6,292,840 2,046,549 



1810 4,723,000 1,020,600 1824 4,096,000 2,364,000 



