REPORT—1854. 
14 6 
or nearly 93 per cent. Those to foreign countries rose from .£34,431,000 to 
.£57,950,000 in the same period; and those to British possessions abroad from 
£16,974,000 to <£22,756,000. Further, in 1840; the proportion sent to European 
countries was 57 percent., and in 1853 only 42 percent, of the whole; while North 
America, which took 20 per cent, of the whole in 1840, took in 1853 no less than 
33 per cent. To the United States alone our exports were, on au average of the 
years 1842-45, only .£23,623,000; and in the years 1850-53 no less than 
.£69,481,000. The general conclusions suggested by the author may be stated ns 
follows:—That the average increase during the period has been larger to foreign 
countries than to British possessions. That our exports have averaged the propor¬ 
tions of about two-thirds to foreign countries, und onc-third to the British posses¬ 
sions. That, with foreign countries in different parts of the world, the order of in¬ 
crease lias been to North America, South America and Europe, and of Northern, 
Central and Southern Europe; the rate of increase being highest in the southern 
division. That with the British possessions the order uf increase may be arranged 
to Australia, Cape of Good Hope, North American colonies, and the East Indies; 
and, finally, that to the United States and the other corn-growing countries, except¬ 
ing only Russia, our exports have increased with our imports of corn. One fac 
noticed by the author seems extremely rcmurkable, namely, that for twenty years an 
upwards after the war which terminated in 1815 , the declared value of our exports 
did not increase, but continued very much the same year after year, and those ya ucs 
were much less than they had been for fourteen years up to the termination o 
the war. 
On a Method of substituting Francs and Centimes for the present Engli « 
Metallic Currency , By James Yates, M.A-, F.R.S. 
Assuming the superior excellence of the French monetary system, the author 
endeavoured to remove the objection which has been urged against this, ana ai 
other decimal methods on account of the supposed time required for effecting 
change from the present English system,—an objection which has been supp 0 «“ 
be fatal to every improvement of the kind. He proposed that the transition shouw o 
carried out through the instrumentality of a paper currency, consisting of now. 
representing the value of a franc, and of all the higher coins ; that persons 8 
receive these notes in exchange for all the existing English coins, and that m > 
minute difference arising from the impossibility of rendering every purchase oi co 
exact, even to the fraction of a centime, should be settled to the advantage o “ 
person who offers the old coius, so that lie would be certain to receive Ins aue, 
more than his due. The author thought, that the promissory notes, thus destine 
call in the old coinage, might be issued in a month, and that to cash them wo 
require a much longer time, but need not exceed twelve months at the utraos • • 
the process advanced, the lowest notes would shortly be superseded by the m 
currency. 
Our silver coinage, as he observed, ami offered to prove by weighing 
specimens, is already, in regard to the quantity of silver which it contains, mori^ 
to be used in the way which he recommended than in any other, probably - 
part of the shillings now current being of the weight of not more than at) I 
number of francs. He proposed, therefore, that these, having been stamp 
certify their recall, should be sent into circulation as francs; also, since a s ' 
proportion of the existing silver coins will soon be reduced by wearing to the & 
of francs, and others will not repay the expense of recoining, he inferred tha 7 
e greater part of the current silver coinage would be ready for immedia 
the proposed system. ’ ^ 
He suggested that the whole of the copper coinage, consisting ol tokens 1 
below their assigned value, might continue to be used until it is worn oub ^ 
possible minute deficiency in value having been made good to the ^ t0 
through the intervention of the paper currency. The gold, he observed, oug 
pass at its intrinsic value, which should be determined upon, as well as the VW 
Bilver, and made known by Act of Parliament and other methods. hu „daiit 
The author recommended that no time should he lust in issuing an ao 
