It will be here seen, that in the case of each of these countries, the proportionate quantity of foreign to national tonnage has been greater in the last than it was in the commencing year of the series. It must, on the other hand, be observed, that although the proportions have thus been more or less altered in a manner which, when applied to England, our shipowners are accustomed to consider unfavourable, the actual amount of the national tonnage has, in each case, been greatly increased. If that increase has not been equal to the increased amount of the commerce of the countries, does this fact not show that the additional capital, which it is evident must have been embarked in commercial pursuits, has, for the most part, been engaged more profitably for the merchants, and more advantageously for the country, in the prosecution of the trade itself, than it would have been by making additions to the number of the mercantile marine? To suppose otherwise, would be to imagine that the merchants prefer the least profitable channels for the employment of their capital, which appears absurd. Our information concerning the shipping employed in most other countries is very scanty. The following figures, which comprise all that can be readily adduced upon the subject, will serve to show that the facts connected with the shipping employed even in those countries to which our shipowners look with the greatest jealousy and apprehension, are by no means calculated to justify those feelings: : Sweden Norway 1830 9,257 1830 162,954 48.97 169,810 48.91 50.33 25,807 7.20 424,277 92.80 1831 17,622 3.94 428,777 96.06 33,065 7.45 410,405 92.55 80,799 53.95 68,950 46.05 74,521 45.12 58,900 60.68 38,165 39-32 33,297 35.23 61,986 65 19 33,093 34.81 522, 190 86.02 838,390 88.32 554,696 90.33 1829 62,528 8.55 669,470 91.45 832,626 87.03 13.51 771,318 86.49 15.51 768,430 84.49 18.68 590,612 81.32 17.64 562,846 82.36 21.92 507,860 78.08 The following table, compiled from the returns made every year to Congress by the executive government, shows the progress of the trade of the United States during the present century : Statement of the estimated Value of Foreign Merchandise Imported into the United States of America, and of American and Foreign Merchandise Exported from those States, in each Year during the present Century, converting Dollars into English money at the rate of Fifty Pence to the Dollar. The great difference observable between the value of the imports and that of the exports during the greater part of the years, cannot fail to strike the least careful examiner. This arises, in some part, from the system adopted at the Custom-houses of the United States, of valuing merchandise, both imported and exported, according to its actual worth at the time in the place where it is landed or shipped. It must be obvious, that under this plan, the value of imports must be greater than that of the exports, not only by the amount of the merchant's profit, but also by the freight of such part at least as is conveyed in ships of the United States. But besides this, it is well known that there is a tendency for foreign capital to find its way for investment to the United States, where it yields a higher rate of interest than can be realized in Europe; and provided such operations are confined within moderate limits, and restricted to objects of a safe and profitable nature, they may be advantageous alike to both countries. It may well be doubted, however, whether the transactions of some of the years recorded in the tables have been confined within the wholesome limits here pointed out, and whether the balance of imports over exports has not been sometimes applied to objects of a merely speculative character. That excess appears to have amounted in the three years 1834, 5, and 6, to 23,271,5707., or, on the average 7,757,1907. per annum. The trade with this kingdom alone in those three years exhibits an excess of imports over exports, to the amount of 6,847,9407., or, on the average, 2,282,6467. per annum ; which, as it amounts to 20 per cent. upon the exports, is evidently greater than can be accounted for by the freight and profit together. CHAPTER XI. PRUSSIAN COMMERCIAL LEAGUE. Declared Object of the League-States of which it is composed-Motives which have led to its adoption-Previous Negotiations-Jealousy of English Merchants and Manufacturers-Effect of the League on the Manufacturers of Saxony. THERE is, perhaps, no measure connected with our external commerce that has occasioned so much discussion in the present day as the PrussoBavarian League, which, under the name of the Zoll Verein, has united for the purposes of trade many of the otherwise independent states of Germany. The arrangements for perfecting this Union were in progress during many years, and it came into practical operation at the beginning of 1834. Previous to that time, the states of which the Union is composed did not allow of the introduction of merchandise across their respective frontiers without the payment of a duty; and in some cases, where domestic industry was to be "protected," the importation of many articles was prohibited. The principle of the Commercial League is to destroy all the frontier custom-houses between the leagued states; to allow of the freest intercourse between the subjects of all the different states composing the union; and thus to give to the inhabitants of each the fullest advantage to be derived from a community of interest, and from extending, in a most important degree, their markets for supply, and the field for the exercise of their industry. Duties on the introduction of merchandise from countries not comprised within the Union have, since the 1st of January, 1834, been collected at one uniform rate at custom-houses established on the exterior boundaries of the frontier states; and a principle for dividing the amount of the duties thus collected has been adopted between the governments, without any consideration as to which is the country for whose immediate use the importations are intended, or to any circumstance other than the proportionate amount of population. The following table exhibits the names of the different States composing the league, the area of each, the number of its inhabitants, and the proportionate amount which each is entitled to receive out of the entire collections made in the custom-houses of the frontier states: The districts comprehended in the above abstract, under the title of Thuringia, comprise : Districts belonging to Prussia (included in the area of that country) Districts belonging to the Electorate of Hesse On the supposition that the real and single object of this peaceful confederation is that which its promoters have put forth to the world, viz., to simplify the fiscal arrangements of the countries by which it is adopted there can hardly be formed two opinions in regard either to its wisdom or to the benign influence which it is calculated to have upon the minds and feelings of those who are brought within its operation. It seems, however, to be very generally believed and understood that the object thus avowed is not, so far at least as the chief mover in the plan is concerned, the only or the chief motive which has led to its adoption, but that political views, extending beyond the interests of the present day, and tending to the aggrandizement of Prussia, have been the real incentives to the scheme. This belief is greatly confirmed *The per centage proportions for the division of the revenue were fixed before the city of Frankfort joined the league. The same proportions are still preserved, but Frankfort's share, calculated upon the same principle, is deducted previous to the apportionment between the other states of the Union. |