The public buildings, particularly the churches, are numerous, and some of them magnificent; but the streets are narrow, ill paved, and filthy. Population estimated at from 125,000 to 160,000. The city is defended by several forts, but none of them are of great strength. We subjoin

An Account specifying the Quantities and the Destination of the Principal Articles of Native Produce shipped from Bahia in 1856,

The value of the above articles may be estimated at about 1,500,000l. Bahia has long been the principal mart for the sale of diamonds. And the late discovery of a new and highly productive diamond-field in the interior, has led to a great increase in the exports of the gem, the value of which is believed to amount to from 450,000l. to 550,000%. (See DIAMOND.) Tapioca and other articles are also exported. In 1856, 143 British vessels, of the burden of 60,202 tons, entered at, and as many cleared out from, Bahia. -See, for some remarks on the trade with Brazil, the art. on RIO DE JANEIRO. The imports consist principally of cottons and other manufactured goods, provisions, flour, salt, salt fish, iron, and hardware, coals, soap, wines, &c.

No articles are prohibited to be imported, nor are there any privileges in favour of ships belonging to any country. The coasting trade is exclusively carried on by Brazilian vessels.

There is no difference made in the duty on goods, whether imported in native or foreign vessels.

Vessels putting into Bahia in distress pay no tonnage dues. Those which discharge or take in cargo pay 30 reis per ton per day, Brazilian measurement; but should a vessel remain in port more than 50 days, this payment ceases to be enforced. Port Dues on Vessels. Brazilian hospital for each man specified in musterroll.

· 610 reis

Bill of health

3,200 reis English, Portuguese, and Brazilian vessels pay lighthouse, &c. 6,720 Vessels of other nations ditto - 10,240 Bahia is the only port of this province where goods may be warehoused on importation, and afterwards exported. A duty is charged thereon at the rate of 4 per cent. on tariff valuation. The duty of 15 per cent, formerly levied on chronometers and other nautical instruments, in use on board vessels has been recently abolished.

Average Exchange, 30d. per 1000 reis. Weights and Measures. 1 arroba 32 lbs. 1 Canada 2 imperial gallons. 1 alqueire≈7-8ths of a bushel. (Consular Returns and private information.)

1 quintal=4 arrobas.

BALACHONG, an article consisting of pounded or bruised fish. It consists principally of small fish, with prawns and shrimps. Though fœtid and offensive to strangers, this substance, used as a condiment to rice, is largely consumed in all the countries to the east of Bengal, including the southern provinces of China, and the islands of the Eastern Archipelago. Its distribution gives rise to an extensive internal traffic.

BALANCE, in accounts, is the term used to express the difference between the debtor and creditor sides of an account.

BALANCE, in commerce, is the term commonly used to express the difference between the value of the exports from and imports into a country. The balance used to be said to be favourable when the value of the exports exceeded that of the imports, and unfavourable when the value of the imports exceeded that of the exports. And in this country this was long believed to be the case; and down to a late period we were annually congratulated by our finance ministers on the excess of the exports over the imports.

The attainment of a favourable balance was formerly regarded as an object of the greatest importance. The precious metals, in consequence of their being used as money, were long considered as the only real wealth that could be possessed either by individuals or nations. And as countries without mines could not obtain supplies of these metals except in exchange for exported products, it was concluded, that if the value of the commodities exported exceeded that of those imported, the balance would have to be paid by the importation of an equivalent amount of the precious metals; and conversely. A very large proportion of the restraints imposed on the freedom of commerce, during the last three centuries, grew out of this notion. The importance of having a favourable balance being universally admitted, every effort was made to attain it; and nothing seemed so effectual for this purpose as the devising of schemes to facilitate exportation, and to hinder the importation of almost all products, except gold and silver, that were not intended for future exportation. But the gradual though slow growth of sounder opinions with respect to the nature and functions of

7

money, showed the futility of a system of policy having such objects in view. It is now conceded on all hands that gold and silver are nothing but commodities; and that it is in no respect necessary to interfere either to encourage their importation, or to prevent their exportation. In Great Britain they may be freely exported and imported, whether in the shape of coin or bullion.-(See COIN.)

The truth is, however, that the theory of the balance of trade was not erroneous merely from the false notions which its advocates entertained with respect to money; but proceeded on radically mistaken views as to the nature of commerce. The mode in which the balance was usually estimated was, indeed, completely fallacious. But had it been correctly ascertained, it would have been found, in opposition to the common opinion, that the imports into commercial countries must, speaking generally, exceed the exports; and that a balance, whether on the one side or the other, is but rarely cancelled by a bullion payment.

I. The proper business of the wholesale merchant consists in carrying the various products of the different countries of the world, from the places where their value is least to those where it is greatest; or, which is the same thing, in distributing them according to the effective demand. It is clear, however, that there could be no motive to export any species of produce, unless that which it was intended to import in its stead were of greater value. When an English merchant commissions a quantity of Polish wheat, he calculates on its selling for so much more than its price in Poland, as will be sufficient to pay the expense of freight, insurance, &c., and to yield, besides, the common and ordinary rate of profit on the capital employed. If the wheat did not sell for this much, its importation would obviously be a loss to the importer. It is plain, then, that no merchant ever did or ever will export, but in the view of importing something more valuable in return. And so far from an excess of exports over imports being any criterion of an advantageous commerce, it is directly the reverse; and the truth is, notwithstanding all that has been said and written to the contrary, that unless the value of the imports exceeded that of the exports, foreign trade could not be carried on. Were this not the case—that is, were the value of the exports always greater than the value of the imports-merchants would lose on every transaction with foreigners, and the trade with them would be speedily abandoned.

In England, the rates at which all articles of export and import are officially valued were fixed so far back as 1696. But the very great alteration that has since taken place, not only in the value of money, but also in the cost of by far the greater number of the commodities of this and other countries, long ago rendered the official valuation of no use whatever, either as a means of learning the values or the quantities of the exports or imports. In so far, however, as respects the former, this defect was unintentionally remedied in 1798, when the "convoy duty," being an ad valorem tax laid on the exports, furnished the means of ascertaining their amount. And the importance of the information so obtained was such, that, whether articles of export have or have not been charged with duties, exporters have since been made to declare, in every case, the real value of the articles which they export.

It has been alleged, and apparently with some probability, that merchants have not unfrequently been in the habit of exaggerating the value of articles entitled to drawbacks on exportation. But the extension and improvement of the warehousing system, and the diminution of the number of drawbacks, has materially lessened whatever fraud or inaccuracy may have arisen from this source. So long, indeed, as the greater number of articles were charged with an ad valorem duty of 10s. per cent. on exportation, it may be presumed that their value was rather under than overrated. But since the repeal of that duty (5 & 6 Vict. c. 47. § 40.), their declared value is believed to come very near the truth; at least, sufficiently so for all practical purposes.

But until very recently no authentic information was obtained in regard to the value of the imports. In 1848, however, the Board of Customs having approved a plan suggested by Mr. Messenger, Inspector General of Imports and Exports, for ascertaining the value of the former, it was submitted by them to the Treasury. And its advantages having been fully appreciated by Mr. James Wilson, M. P., then Secretary to their Lordships, it was carried into effect in 1854. It is needless to enter into any minute details with respect to the mode of computing the values of the imports. It is sufficient to state that it is effected by ascertaining the current prices of imported articles -from price currents, mercantile circulars, &c., and from these deducing the agg. value of each. It would be idle to suppose that results derived from a process of this sort should be altogether exact; but the errors it involves are of no great moment, and for statistical purposes it may be reckoned quite correct, and most valuable.

In the last edition of this work, we ventured to say that, though we had no means of comparing the real values of the imports with those of the exports, we had no doubt that the former very considerably exceeded the latter. It could hardly, indeed, be

otherwise. The value of an exported commodity is estimated at the moment of its being sent abroad, and before its cost is increased by the expense of transporting it to the place of its destination; whereas the value of the commodity imported in its stead is estimated after it has arrived at its destination, and, consequently, after its cost has been enhanced by the expense of freight, insurance, importers' profits, &c. It is, therefore, abundantly clear that, except on extraordinary occasions, the value of the imports must be decidedly greater than that of the exports. And such is now proved to be the case. of the imports and exports in 1855, 1856,

According to the Customs returns the value 1857, and 1858, have been as follows, viz.

It is clear, therefore, that to measure the advantage of commerce by the excess of the exports over the imports is a proceeding that is false alike in fact and principle. The value of the imports, in all but anomalous and extremely rare instances, invariably exceeds that of the exports. And it is plain that this excess, whatever it may be, forms the only fund whence the expenses and profits of the merchants can be derived. The larger, consequently, it becomes, the more will it be for their advantage.

"In

In the United States, the value of the imports, as ascertained by the Custom-house returns, has usually exceeded the value of the exports. And although our practical politicians were in the habit of considering the excess of the former as a certain proof of a disadvantageous commerce, "it is nevertheless true," says Mr. Pitkin, "that the real gain of the United States has been nearly in proportion as their imports have exceeded their exports."-( Commerce of the United States, 2d. ed. p. 280.) The excess of American imports has in part been occasioned by the Americans generally exporting their own surplus produce, and, consequently, receiving from foreigners not only an equivalent for their exports, but also for the cost of conveying them to the foreign market. 1811," says the author just quoted, "flour sold in America for nine dollars and a half per barrel, and in Spain for fifteen dollars. The value of the cargo of a vessel carrying 5,000 barrels of flour would, therefore, be estimated at the period of its exportation. at 47,500 dollars; but as this flour would sell, when carried to Spain, for 75,00C dollars, the American merchant would be entitled to draw on his agent in Spain for 27,500 dollars more than the flour cost in America; or than the sum for which he could have drawn, had the flour been exported in a vessel belonging to a Spanish merchant. But the transaction would not end here. The 75,000 dollars would be vested in some species of Spanish or other European goods fit for the American market; and the freight, insurance, &c., on account of the return cargo, would probably increase its value to 100,000 dollars, so that, in all, the American merchant might have imported goods worth 52,500 dollars more than the flour originally sent to Spain." It is as impossible to deny that such a transaction as this is advantageous, as it is to deny that its advantage consists entirely in the excess of the value of the goods imported over the value of those exported. And it is equally clear that America might have had the real balance of payments in her favour, though such transactions as the above had been multiplied to any conceivable extent.

II. In the second place, when a balance is due by one country to another, it is but seldom that it is paid by remitting bullion from the debtor to the creditor country. If the sum due by the British merchants to those of Holland be greater than the sum due by the latter to them, the balance of payments will be against Britain; but this balance will not, and indeed cannot, be discharged by an exportation of bullion, unless bullion be, at the time, the cheapest exportable commodity; or, which is the same thing, unless it may be more advantageously exported than anything else. To illustrate this principle, let us suppose that the balance of debt, or the excess of the value of the bills drawn by the merchants of Amsterdam on London over those drawn by the merchants of London on Amsterdam, amounts to 100,000l.: it is the business of the London merchants to find out the means of discharging this debt with the least expense; and it is plain, that if they find that any less sum, as 96,000l., 97,000l., or 99,900l., will purchase and send to Holland as much cloth, cotton, hardware, colonial produce, or any other commodity, as will sell in Amsterdam for 100,000l., no gold or silver will be exported. The laws which regulate the trade in bullion are not in any degree different from those which regulate the trade in other commodities. It is exported only when its exportation is advantageous, or when it is more valuable abroad than at home. It would, in fact, be quite as reasonable to expect that water should flow from a low to a high level, as it is to expect that bullion should leave a country where its value is great to go to one where

it is low! It is never sent abroad to destroy, but always to find, its level. The balance of payments might be ten or a hundred millions against a particular country, without causing the exportation of a single ounce of bullion. Common sense tells us that no merchant will remit 100l. worth of bullion to discharge a debt in a foreign country, if it be possible to invest any smaller sum in any species of merchandise which would sell abroad for 1001, exclusive of expenses. The merchant who deals in the precious metals is as much under the influence of self-interest, as he who deals in coffee or indigo; and what merchant would attempt to extinguish a debt, by exporting coffee which cost 100l., if he could effect his object by sending abroad indigo which cost only 991. ?

The argument about the balance of payments is one of those that contradict and confute themselves. Had the apparent excess of exports over imports, as indicated by the British Custom-house books for the hundred years down to 1853, been always paid in bullion, as the supporters of the old theory contend is the case, there should at this moment be some 500,000,000 or 600,000,000 of bullion in the country, instead of 80,000,000 or 100,000,000, which it is supposed at most to amount to! Nor is this all. If the theory of the balance were good for anything if it had not been a mere idle delusionit follows, as every country in the world, with the single exception of the United States, has had its favourable balance, that they must have been paid by an annual importation of bullion from the mines corresponding to their aggregate amount. But it is certain, that the entire produce of the mines, great as it is, though it were increased in a fivefold proportion, would be insufficient for this purpose! This reductio ad absurdum is decisive of the degree of credit that should be attached to conclusions respecting the flourishing state of the commerce of any country drawn from the excess of the exports over the imports!

Not only, therefore, is the theory with respect to the balance of trade erroneous, but the very reverse of that theory is true. In the first place, the value of the commodities imported by every country which carries on an advantageous commerce (and no other will be prosecuted for any considerable period), invariably exceeds the value of those which she exports. Unless such were the case, there would plainly be no fund whence the merchants and others engaged in foreign trade could derive either a profit on their capital, or a return for their outlay and trouble; and in the second place, whether the balance of debt be for or against a country, that balance will neither be paid nor received in bullion, unless it be at the time the commodity by the exportation or importation of which the account may be most profitably settled. Whatever the partisans of the doctrine as to the balance may say about money being a preferable product, or marchandise par excellence, it is certain it will never appear in the list of exports and imports while there is anything else with which to carry on trade, or cancel debts, that will yield a larger profit, or occasion a less expense to the debtors.

It is difficult to estimate the mischief which the absurd notions relative to the balance of trade have occasioned in almost every commercial country ;-here they have been particularly injurious. It is principally to the prevalence of prejudices to which they have given rise, that the restrictions on the trade between this country and France are to be ascribed. The great, or rather the only, argument insisted upon by those who prevailed on the legislature, in the reign of William and Mary, to declare the trade with France a nuisance, was founded on the statement that the value of the imports from that kingdom considerably exceeded the value of the commodities we exported to it. The balance was regarded as a tribute paid by England to France; and it was sagaciously asked, what had we done, that we should be obliged to pay so much money to our natural enemy? It never occurred to those who so loudly abused the French trade, that no merchant would import any commodity from France, unless it brought a higher price in this country than the commodity exported to pay it; and that the profit of the merchant, or the national gain, would be in exact proportion to this excess of price. The very reason assigned by these persons for prohibiting the trade affords the best attainable proof of its having been a lucrative one; nor can there be any doubt that an unrestricted freedom of intercourse between the two countries would be of the greatest service to both.

BALE, a pack, or certain quantity of goods or merchandise; as a bale of silk, cloth, &c.

Bales are always marked and numbered, that the merchants to whom they belong may know them, and the marks and numbers correspond to those in the bills of lading, &c. Selling under the bale, or under the cords, is a term used in France and other countries for selling goods wholesale, without sample or pattern, and unopened. BALKS, large pieces of timber.

BALLAST (Du. Ballast; Fr. Lest; Ger. Ballast; It. Savorra; Sp. Lastre; Sw. Ballast), a quantity of iron, stones, sand, gravel, or any other heavy material laid in a ship's hold, in order to sink her deeper in the water, and to render her capable of carry

ing sail without being overset.

All ships clearing outwards, having no goods on board

other than the personal baggage of the passengers, are said to be in ballast.

The quantity of ballast required to fit ships of equal burden for a voyage, is often materially different; the proportion being always less or more, according to the sharpness or flatness of the ship's bottom, called, by seamen, the floor.

The proper ballasting of a ship deserves peculiar attention, for, although it be known that ships in general will not carry sufficient sail, till they are laden so that the surface of the water nearly glances on the extreme breadth midships, more than this general knowledge is required. If the ship have a great weight of heavy ballast, as lead, iron, &c., in the bottom, the centre of gravity will be too low in the hold; this no doubt will enable her to carry a press of sail, but it will, at the same time, make her sail heavily, and roll so violently, as to run the risk of being dismasted.

The object in ballasting a ship is, therefore, so to dispose of the ballast or cargo, that she may be duly poised, and maintain a proper equilibrium on the water, so as neither to be too stiff, nor too crank, qualities equally pernicious. If too stiff, she may carry much sail, but her velocity will not be proportionally increased; whilst her masts are endangered by sudden jerks and excessive labouring. If too crank, she will be unfit to carry sail without the risk of oversetting.

Stiffness in ballasting is occasioned by disposing a too great quantity of heavy ballast, as lead, iron, &c., in the bottom, which throws the centre of gravity very near the keel; and this being the centre about which the vibrations are made, the lower it is placed, the more violent is the rolling.

Crankness, on the other hand, is occasioned by having too little ballast, or by disposing the ship's lading so as to raise the centre of gravity too high: this also endangers the masts when it blows hard; for when the masts cease to be perpendicular, they strain on the shrouds in the nature of a lever, which increases as the sine of their obliquity: and it is superfluous to add, that a ship that loses her masts is in great danger of being lost.

Hence the art of ballasting consists in placing the centre of gravity to correspond with the trim and shape of the vessel, so as to be neither too high nor too low; neither too far forward, nor too far aft; and to lade the ship so deep, that the surface of the water may nearly rise to the extreme breadth midships: she will then carry a good quantity of sail, incline but little, and ply well to windward. — (See Falconer's Marine Dictionary.)

The mischievous consequences of not attending to the circumstances now mentioned are often experienced by ships loading barilla, brimstone, and such heavy articles, on the coast of Sicily and Spain. The habit there is to cut large quantities of brushwood and faggots, and to spread them in the hold, to hinder the cargo from sinking the centre of gravity too low, and causing the ship to labour violently; but it very frequently happens that the pressure of the cargo on this sort of dunnage is so great as to squeeze it into a much smaller space than could at first have been supposed; so that ships after getting to sea are sometimes obliged to return to port, to unload a part of their cargo, to prevent their foundering. In such cases firm dunnage, such as oak staves, should, if possible, be always employed. (See Jackson's Commerce of Mediterranean, p. 125-128.)

Ships that have cargoes of light goods on board require a quantity of ballast; increasing, of course, according to the greater lightness of the goods.

Ballast in the Thames.-The soil of the river Thames from London Bridge to the sea is vested in the Trinity House corporation, and a sum of 102. is to be paid for every ton of ballast taken from the channel of the river without due authority from the said corporation. Ships may receive on board land ballast from the quarries, pits, &c. east of Woolwich, provided the quantity taken in a year do not exceed the number of tons notified to the Trinity corporation. Land ballast must be entered, and Id. paid per ton on entering. No ballast is to be put on board before entry at the ballast office, under a penalty of 52. a ton. The Trinity corporation is authorised by the 6 & 7 Vict. c. 57., to charge the following rates for all ballast demanded and entered at the ballast office, viz. :—

For every ton (20 cwt.) of ballast, not being washed ballast, carried to any ship or vessel employed in the coal trade, the sum of 1s.

For every such ton carried to any other British ship or vessel, the sum of 1s. 3d.

For every such ton carried to any foreign ship or vessel, the sum of 1s. 7d.

For every ton of washed ballast carried to any ship or vessel employed in the coal trade, the sum of 2s. For every ton of washed ditto carried to any other British ship or vessel, the sum of 28. 6d.

For every ton of washed ditto carried to any foreign ship or vessel, the sum of 38. 24.

And for every ton of ballast delivered in or unladen from the Inward West India Dock, the further sum of 10d.; and for every ton of ballast delivered in or unladen from the Outward West India Dock, the further sum of 1d.; and for every ton of ballast delivered in or unladen from the London Docks, the further sum of 4d.; and for every ton of hallast delivered in or unladen from the Inward East India Dock, the further sum of 10d.; and for every ton of ballast delivered in or unladen from the Outward East India Dock, the further sum of 4d.; and for every ton of ballast delivered in or unladen from the Commercial Dock, the further sum of 4d.; and for every ton of ballast delivered in or unladen from the East Country Deck, the further sum of 4d.; and for every ton of ballast delivered in or unladen trom the City Canal, the further sum of 4d.; and for every ton of ballast delivered in or unladen from the Surrey Canal, the further sum of 4d.; and for every ton Heaving of Ballast. The men employed in this been held in a sort of thraldom by what are called according to a truck system of the very worst kind. subjection, and place them on a more independent as follows, viz.:—

Trinity House, London, 11th November, 1853. Her Majesty having, as provided by $ 14 of the act 16 & 17 Vict. c. 131., been pleased by order in council, dated the 24th October, 1853, to approve a scale of rates, to be esta blished and paid to this corporation by the owners or masters of, or agents for, any ships, who may be desirous that the Trinity House should undertake to place ballast on board, or anload it from, such ships, in addition to the rates already payable under the act 6 & 7 Vict. c. 57., for placing the balist alongside the same. The said scale so approved is hereby made public for the information of all persons who may be desirous to avail themselves of this regulation, viz.:

of ballast delivered in or unladen from the Regent's Canal, the further sum of 1d.

Which further rates or prices shall be payable and paid over and above the respective rates first mentioned.

The ballast of all ships or vessels coming into the Thames, is to be unladen into a lighter, at the charge of 6d. a ton. If any ballast be thrown or unladen from any ship or vessel into the Thames, the captain, master, &c. shall for every such. offence forfeit 201. No ballast is to be received on board otherwise than from a lighter. By the stat. 54 Geo. 3. c. 149. it is enacted, that no person shall, under a penalty of 101. over and above all expenses, discharge any ballast, rubbish, &c. in any of the ports, harbours, roadsteads, navigable rivers, &c. of the United Kingdom; nor take ballast from any place prohibited by the Lords of the Admiralty.

laborious occupation have, for a lengthened period, the "Long shore publicans," who have paid them To emancipate the labourers from this degrading footing, the Trinity House offers to heave ballast

"For vessels having ports, 4d. for every ton of ballast placed on board or unladen;

"For vessels not having ports, 6d. for every ton of ballast placed on board or unladen.""

And notice is given, that on and after the 1st day of December, 1853, this corporation will canse ballast to be placed on board of, or unladen from, all ships or vessels, the owners, masters, or agents of which may be desirous that it shall be so placed or unladen, on payment of the rates above specified, at the time of making entry and payment for the quantity of ballast required to be put on board, or unladen, as the case may be. By order, J. Herbert, secretary.

The act 16 & 17 Vict. c. 107. § 145. enacts that before any ship shall depart in ballast from the U. K. for parts beyond seas, not having any goods on board, except stores from the warehouse borne upon the victualling bill of such ship, nor any goods reported inwards for exportation in such ship, the collector or comptroller shall clear such ship in ballast, by notifying such clearance and the date thereof of the victualling bill, and de iver the same to the master of such ship as the clearance thereof; and the master of such ship shall answer to the collector or comptroller such questions touching her departure and des