744 REPORT — 1901. 



are largely increasing their supply of high-speed ocean steamers, this country shows 

 little progress in this direction ; whilst the more recent vessels built for British 

 mail companies are not equal in speed either to those of Germany or even to 

 those formerly built for our own lines. On this account it might well be desirable 

 for military reasons for our Government to consider the advisability of increasing 

 its inducements for building high-speed ships. 



The British shipowner works vmder certain natural and economic conditions of 

 a favourable nature. But he is placed under many statutory disabilities. Yet 

 some of the restrictions under which he labours are not wholly to his disadvan- 

 tage, since his percentage of loss is lower than tliat of unregulated marines, and 

 this fact should assist him in placing his insurances at a low premium. The natural 

 tendency of improvements in ship building and marine engineering is towards the 

 gradual extinction of the sailing ship. In our own counrry this natural movement 

 goes on. In Italy and France an attempt has been made to revive this trade by 

 means of construction and navigation bounties. France has achieved some success 

 in this direction. But it is doubtful how far the shipowner really will benefit 

 from the construction bounty, and no one would be likely to suggest its adoption 

 here. 



The notable increase in size and cost of modern steamships seems to tend 

 towards a large concentration of the trade in the hands of big companies and lines. 



Competition between the steamship lines of different countries has of recent 

 years developed, whilst the cost of national support to the competitors has very 

 largely increased. Some of the results achieved have been, at least as yet, quite 

 inadequate to the eti'orts made, whilst a good deal of foreign mone}- is certainly 

 being thrown away in the attempt to foster national trade. Some success is un- 

 doubtedly being achieved by the German policy of making the State assist in the 

 unremuueracive work of pushing trade in new channels. 



This, perhaps, the British Government, could not be expected to do. But com- 

 bined action on a large .scale amongst British shipowners might enable them to do 

 that for themselves which foreign shipowners have done for them by their Govern- 

 ments. 



2. Thirty Yearn' Export Trade, British and Irish Produce, 1870-99. 

 By Barnard Ellinger. 



Comparisons of one period of our export trade with another, based on sterling 

 returns of isolated years, are unsatisfactory because the alteration of prices is not 

 taken into consideration, and frequently the years compared are years of different 

 degrees of prosperity 



Comparisons of the annual averages of decades have therefore been used in this 

 paper as being more satisfactory than shorter periods, embracing as they do the 

 whole cycle of trade expansion and depression. 



If thrt alteration of price is taken into consideration, the comparison is of course 

 more satisfactory ; but the most satisfactory comparison is on a basis of quantity, 

 always making reservations for possible alterations of quality. 



It is obviously impossible to satisfactorily compare quantities of such commodi- 

 ties as machinery, chemical products, millineiy, &c. ; but on comparing the export 

 of eighteen of our chief exported commodities in 1890-99 with 1870-79 (each of 

 which commodities was in some year of the period exported to the value at least 

 :i,OuO,O0OZ.) we find the average o! the quantity exported annually during the later 

 decade was '2b per cent, larger than in the earlier. 



The sterling value of the eighteen commodities is about 51 percent, of our total 

 trade, and the remaining 49 per cent, (of which comparisons of quantity cannot be 

 made) show an increase of 37 per cent, in sterling value exported. 



The average annual value of our exports of 1890-99 was 19,000,000/. greater 

 than in 1870-79. 



The average annual value exported per head of the population in 1890-99 was 

 b-Q per cent, leis than in 1670-79; bat if it is assumed that the 25 percent, gain in 



