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merce of France, and according to which, including oaly the 
four principal maritime powers, namely, England, France, the 
United States, and the Netherlands, the movement out and 
home was 
In 1839 . . 2,453 vessels 983,890 tons. 
1840 . . 2,532 1,000,995 
1841 . . 2,996 1,203,762 
The changes, which have taken place in the mutual relations 
of Europe and China, must have considerably increased these 
numbers, and there is no doubt that the amount of tonnage 
conveyed by these foiu- nations alone, exceeds at present one 
million and a half. To this amount must be added the naviga- 
tion of the other maritime powers. 
After what has been said, it is no exaggeration to suppose 
that, in consequence of the opening of the Isthmus, the com- 
mercial movement would soon reach two millions of tons. 
Let it however be calculated that only three-fourths of that 
traffic passes through the new channel, namely one million 
and a half. 
1. By exacting from the vessels the moderate transit duty 
of 2 dollars per ton, the million and a half would yield a sum 
of £600,000. 
2. The sale of lands, and the privilege of steam-boats, may 
yield (say only) £50,000. Lands analogous to that of the 
Isthmus but less advantageously situated, would be worth in 
Cuba more than £2,000 per square league. 
3. The consumption of dyewoods, mahogany and other fine 
woods, such as the Isthmus can supply, amounts, for London 
and Liverpool alone, to upwards of sixty thousand tons, the 
value of which, at the present market prices, exceeds £300,000 
nett of all charges, and when the demands of every other 
country are taken into account, it is but reasonable to put 
down under this head the sum of £500,000. 
4. We will give to the other produce a value of only £50,000 
nett, although it is evident that such a sum is considerably 
below the real valuation ; indeed, from what is said on the sub- 
ject in Sr. Moro's Report, it may be inferred that the article 
pepper alone would yield £10,000 ; the gums and resins more 
G 
