COMMERCE, INTERNATIONAL. 



thp application of steam, the perfection of ma- 

 chinery, the development of capitalistic produc- 

 tion, and steam transportatiop over the ocean 

 and across the breast of the continents. One 

 of the main conditions without which this 

 progress would not have been possible has 

 been the removal of restrictions on foreign 

 commerce, first by England, then by France 

 and other countries, and finally by China, 

 Japan, and other remote nations. Another 

 cause, whose importance can not be overesti- 

 mated, was the increase of the metallic cur- 

 rency of the world, which is the life-blood of 

 trade, by the discovery of the Californian and 

 Australian gold-fields. Before 1848 the stock 

 of metallic money in the world is estimated 

 to have been $5,000,000,000. In 1868 it was 

 $7,000,000,000. This enormous increment did 

 not cause a sudden and abnormal disturbance 

 of values, but was gradually assimilated, pro- 

 ducing a slow and even rise of prices, quick- 

 ening production, and stimulating commerce, 

 allowing it to extend its operations to the re- 

 motest parts of the earth. 



The present aggregate volume of the world's 

 commerce, according to the computation of 

 Professor Neumann - Spallart of Vienna, is 

 $14,000,000,000. Europe's share is $9,976,000,- 

 000, or 71 '26 per cent, of the total international 

 commerce. The aggregate exports of Euro- 

 pean countries amount to $5,650,000,000; their 

 imports are $4,336,200,000. The American na- 

 tions have a total foreign commerce of $2,140,- 

 000,000, or 15-30 per cent, of the world's to- 

 tal commerce ; their imports amount to $972,- 

 800,000, their exports to $1,167,200,000. The 

 share of Asia and the South Sea Islands in the 

 whole is 8-08 percent., or $1,131,000,000, with 

 $489,000,000 imports and $641,600,000 ex- 

 ports. Australia and the islands of the Pacific 

 participate to the extent of $462,000,000, or 

 8-29 per cent., with imports aggregating $237,- 

 800,000 and exports $224,400,000. The aggre- 

 gate commerce of Africa is $291,000,000, 2-07 

 per cent, of the whole ; its imports are $134,- 

 400,000, its exports $156,600,000. Reckoning 

 the population of Europe at 289,000,000, the 

 amount of commerce per capita is $34-52. 

 America, with a population of 84,840,000, has 

 a commerce of $25-22 per capita. The inter- 

 national trade of Asia, counting its popula- 

 tion 806,700,000, is but $1.40 per capita. Aus- 

 tralasia's population is given as 1,800,000 ; its 

 foreign commerce would therefore amount to 

 $256-77 per capita. Africa, with an estimated 

 population of 80,000,000, has a commerce of 

 $3-62 per capita. The total imports of all na- 

 tions, according to this estimate, sum up $7,- 

 474,400,000, the total exports $6,526,000,000. 

 The disparity between the aggregate values of 

 the imports and exports is partly explainable 

 by the fact that the cost of freight, marine in- 

 surance, and other charges, are included in the 

 valuation of imports, whereas exports are as- 

 sessed at the bare manufacturer's price, under- 

 stated also in many exports of dutiable articles. 



The foreign commerce of each particular coun- 

 try is given in the following tables : 



EUROPE. 



AMERICA. 



ASIA. 



AUSTRALASIA, ETC. 



