STATISTICS. 123 



.Official Value. 



The official value of goods is always the same. 

 It has been adopted at the Custom-house, and 

 retained for a century past in the public accounts, 

 merely for the purpose of showing the increase or 

 decrease of trade from year to year, and has no re- 

 ference whatever to the real value of goods. It was 

 formerly the custom to add fifty per cent, to the 

 official value in order to get the real value ; but at 

 present (18 19) the real, or at least the declared value, 

 is said to be actually lower on an average than the 

 official. 



Importers smuggle in ; exporters magnify their 

 exports : the last in consequence appear greatly to 

 over-balance the first. 



Gilding. 



Fifty thousand pounds worth of gold and silver, 

 are said to be annually employed at Birmingham in 

 gilding and plating, and of course for ever lost as 

 bullion. 



Cotton Yarn. 



Cotton yarn has been spun to the fineness of 350 

 hanks weighing only one pound. Each hank would 

 measure 840 yards, which multiplied by 350, will 

 give 294,000 yards, or 167 miles and a fraction. 



1,140,000 bales of cotton were imported into 

 Europe during the year 1825. 



Quick Work. 



Sir John Throgmorton sat down to dinner dressed 

 in a coat which had that morning been wool on the 

 sheep's back. 



East India Trade. 



The act for opening the East India Trade passed 

 in 1813, the first licenses were granted the 12th of 

 April, 1814. 



