Statistics of Vafi Diemen's Land. 113 



foster colonial enterprise^ by promoting the consumption of 

 domestic manufactures ; yet, at tlie same time, that it was 

 indispensable that the home-made article should relatively be 

 as good in quality, and cheap in price, as the one imported. 



An undue anxiety is usually displayed to maintain an 

 even balance between the imports and exports, and the 

 greatest concern expressed should the former at any time 

 preponderate in amount. The apprehension is altogether 

 groundless ; for, in the very nature of things, an adjustment 

 must take place. Eor instance, although the imports of 

 one year exceed the exports, it by no means follows that 

 they will be consumed during that period. Besides, the 

 ordinary law of supply and demand itself steps in to regulate 

 imports, and to check their excess, by a fall below cost 

 price, which at once provides an eifectual remedy, as im- 

 portations must obviously stop as soon as they cease to be 

 profitable. Imports, then, subject to the restrictions and 

 regulated by the principle pointed out, are highly advanta- 

 geous to a community by adding so greatly to its sum of 

 comforts. 



With these preliminary observations we turn to an exami- 

 nation of the Table, and find that the total imports in 1848 

 exceed the exports by 17|- per cent. As compared with 

 1847, we notice a decrease under each head of 18 per cent.; 

 but, compared with 1846, the imports show an increase of 

 nearly 6 per cent., while the exports on the contrary have 

 decreased 16 per cent. 



The diminution in the total value of exports for 1848 

 may be partly accounted for by the fall in the price of wool,^ 

 ascribable to the political convulsions agitating Europe, 

 estimated to have caused an actual deficiency in value 

 of £60,000 to £70,000 upon the year's clip; and it 

 will be at once apparent how greatly, again, this immense 

 loss must tend to diminish imports. 



