TRANSACTIONS OF THE SECTIONS. 217 



4 vessels lost at Greeenland 1,241 tons per register. 



13 vessels lost at Davis Straits 4,111 „ 



1 vessel lost at Iceland 308 „ 



2 vessels lost trading to Baltic 604 „ 



1 vessel lost at Moray Frith 157 „ 



1 vessel lost at Archangel 289 „ 



1 vessel lost at North Sea 132 „ 



7 vessels sold 1,450 „ 



28 vessels engaged at the fisheries 7,325 „ 



58 15,617 



Assuming the value of these vessels at £20 per ton, including provisions and 

 wages, the total first cost would have been £312,340 ; but as they decline in value 

 as they increase in age, the average during employment may be calculated at 

 £15 per ton for those going to Greenland, and £17 for those in the Davis Straits 

 Fishery. The losses at the former would therefore amount to £18,915, and at the 

 latter £69,887. Comparing the losses at Greenland with those at Davis Straits, 

 out of 504 voyages to the former 4 vessels were wrecked, and out of 214 to the 

 latter 14 were wrecked, which demonstrates the risk at Davis Straits to be eight 

 times greater than at Greenland ; at the one country the loss is under 1 per cent., 

 and at the other about 65 per cent. It may be observed, that the class of vessels 

 which has gone from Peterhead to Greenland of late years has been superior to 

 those of some other ports, and consequently the casualties have been less in pro- 

 portion amongst Peterhead ships. The rates of premium and policy of insurance 

 to Greenland is £3 7s. 6(7. per cent., and to Davis Straits £6 10s. 6d. per cent : 

 formerly the rates were higher. Of all places frequented at these fisheries, the 

 danger of shipwreck is greatest at Melville Bay, on the east side of Davis Straits. 

 In the year 1830, one French and nineteen British vessels were lost in that bay ; 

 the loss of life, however, is very small, as the men can instantly get upon the ice 

 and walk to other vessels which may have accompanied them. 



The total importations from these fisheries for the 71 years has been, 1,121,685 

 seal skins, 3797 whales, producing 44,582 tuns of oil, and 1731 tons of whalebone, 

 and of the approximate value of £2,323,380 sterling. The value of produce has 

 changed very much from time to time ; oil has been sold as low as £20 and as 

 high as £54 per tun. "Whalebone at one period was nearly valueless, and of 

 late it has been sold in the London market at £580 per ton. Seal skins twenty 

 years ago sold at Is. to Is. 6<7. per skin, and they are now realising 3s. Qd. to 8s. 6(7. 

 per skin. In the early years of the fishing the vessels sailed in the end of March 

 and beginning of April, but now they take their departure in the middle and end 

 of February, returning in May, June, July, and August from Greenland, and in 

 September, October, and November from Davis Straits. There is no record of the loss 

 of life from accidents and disease, but the per-centage, if ascertainable, would no 

 doubt be found to be small ; the crews on their return from the icy seas always 

 look healthy and strong. 



On the Trade and Commerce of India. By J. T. Mackenzie. 



The paper gave a view of the exports and imports of bullion and merchandise 

 for twenty-five years, ending in 1858. The value of exports from British India 

 amounted, in the five years from 1833-38, to £10,300,000 annually, while, for the 

 five years from 1853-58, the amount annually was £22,810,755. Imports of mer- 

 chandise, exclusive of treasure, averaged £4/717,278 yearly in the first period of 

 the same series, and £13,457,015 yearly for the last. The total bullion imported 

 into India for the twenty-five years was £110,329,428. The number of vessels 

 entered into India from foreign ports in 1858 was 4309 — increase £1,686,558. The 

 largest item of merchandise imported into India consisted of cotton, twist, yarn, 

 and piece goods, and amounted in 1858 to £4,695,400, of which £4,608,655 were 

 supplied by the United Kingdom. The writer next alluded to the importance of 

 the extension of this great market to every class at home ; and the obvious means 

 by which this great object is to be attained are, on the one hand, by increasing the 

 producing power of India, and by enabling her to dispose of a large quantity of her 



