THE HOME MARKET 305 



were only about 20J millions, showing a comparatively 

 small increase. The average yearly imports from the 

 United States during the same ten years (1894- 1903) 

 were no less than 117 millions. 



Leaving averages and taking the year in each of 

 the decades of years named, in which our exports of 

 British and Irish products to the United States were 

 the highest, we find that in 1853 ^^^Y were above 

 23 J millions sterling, while in 1902 they were about 

 23f millions, or practically the same. So that instead 

 of every bushel of the enormously increased imports 

 of corn being "paid for by British manufactures," facts 

 show that the exports of British products to the 

 United States are about the same now as they were 

 fifty years ago.^ 



The full significance of this comparison can only 

 be seen by looking at the increase of population in 

 the two countries. The United States in 1853, with 

 a population of less than 30 millions, bought about 

 as much in value of British products as that country 

 did fifty years later (in 1903), with a population of 

 about 80 millions. In the same way our working 

 classes got as much employment through working for 

 the United States in 1853, when our population was 

 about 28 millions, and the imports of grain were so 

 small, as they got in 1903, when the population had in- 

 creased to about 42 millions and the imports of grain 

 were so vast. To put the case in another way, the ex- 

 ports to the United States in 1853 were 17s. per head 

 of our population ; in 1903 they were about los. 8d. 



^ The returns for last year (1904) have just been issued. They show 

 that the value of our exports to the United States of British and Irish 

 produce was still lower, being less than 20j millions sterling, while that 

 of our imports from that country the same year were 119!^ millions. 



