that until steam can compete with canvas on equal terms, the preference will undoubtedly be awarded to the latter. The reasons already mentioned-namely, the cost of fuel and the space it occupies in attempting this long voyage-are the (at present) insuperable difficulties to contend with, and which have been more or less the cause of so many failures in the endeavor of the promoters of steam to get a place firmly in this trade. And until these serious hindrances can be removed by some invention to economise fuel, every succeeding attempt must result as unsatisfactorily as those which have gone before. Against every new thing there naturally exists prejudice. And had steain not had a fair trial we should have been disposed to have viewed the prevailing feeling, which in China particularly is very obvious and common, against the steamers, as simply want of honest judgment. But from the comparison we have endeavored to make in the preceding remarks, it is clear that there are actual grounds of distrust in steamers, and plain reasons why sailing clippers in this trade should be preferred and substantially supported. While we come to this conclusion on the subject of canvas vs. steam, it cannot be denied that the success of the sailing ship has been much owing to the incentive produced by competition with steam. No doubt while many unsuccessful attempts were being made the shipowner saw the necessity to meet the advancing spirit of the age, and struggle for the supremacy of sail. For from year to year the ships have been constructed of always tiner model, dimensions being adopted where capacity was sacrificed for speed. In fact (of late more especially) the extreme clippers in this employment have been built with lines that more resemble those of our pleasure yachts than that of ships for carrying merchandise. So much has this been the case that these ships are renowned throughout the world for their remarkable sailing powers, and are peculiarly the pride and property of the China tea trade. TRADE OF GREAT BRITAIN AND THE UNITED STATES. COTTON, BREADSTUFFS, PROVISIONS, ETC. Notwithstanding the unsatisfactory position of affairs in England, the Board of Trade returns for the month of September, and the nine months ending September 30, show very satisfactory results as compared with previous years. Both in imports and exports a large business has been done, and as prices are higher, as regards many articles, than in former years, the value of the articles imported or exported shows a considerable increase. During the nine months ending September 30, the declared value of the total exports of British and Irish produce and manufactures was £141,936,898, against £119,717,377 last year, and £123,404,161 in 1864. For the month of September the declared value was £16,671,078, against £17,316,681 in 1865, and £14,687,942 in 1864. For each month, from January to September, inclusive, in each of the last three years, the figures stand thus: The imports in August were larger than in the previous month, and within £60,000 of the corresponding month last year. The total value of the imports for the eight months is £50,000,000 greater than in the corresponding period in 1865. This large increase is chiefly to he accounted for by the greatly-augmented value of the cotton imported, viz.: £58,000,000, against nearly £30,000,000, and by the increase in the value of the wheat and flour imported, viz.: £11,600,000, against £6,400,000 last year. The computed real value of the imports into Great Britain from all quarters for the eight months was as follows: With regard to the United States, it appears that the value of British and Irish produce exported in August was £2,554,506, against £1,636,223 last year, and £735,803 in 1864. For the eight months, the exports were of the following declared value: The principal imports into Great Britain are now from British India, the supplies received from this country being comparatively triflng. In September the imports reached a total of 980,713 cwts., of which 724,712 cwts. were from the East Indies, and only 161,679 cwts. from the United States. The total from this country for the year, however, is nearly 4,000,000 cwts., out of 9,790,314 cwts. It is fully anticipated that, as the crop in Egypt is of more than average extent, increased supplies of cotton will shortly be received from that quarter. The particulars of imports of this staple are subjoined: IMPORTS OF COTTON INTO GREAT BRITAIN IN NINE MONTHS. The exports of cotton from Great Britain in September were rather less than in the corresponding month last year; but for the nine months there is a balance in favor of this year of about 680,000 ewts. In September the shipments were 382,908 cwts., against 405,732 ewts. in 1865, and 188,833 cwts. in 1864. For the nine months the following are the figures: To Russia. EXPORTS OF COTTON FROM GREAT BRITAIN IN NINE MONTHS. Prussia Hanover. Hanse Towns Holland. Other Countries. Total ... The computed real value of the cotton imported into Great Britain in the eight months ending August 31 was as follows: The wheat trade in England has now assumed a position of great importance to ourselves. At the latest date, wheat was about 12s. per quarter dearer than in 1865, and as importations from France had almost ceased, whilst Prussia was sending very moderate supplies of produce to the London market, the trade, though quieter than in previous weeks, was characterized by considerable firmness. The arrivals of wheat, however, at ports on the east coast had been large, chiefly from Russia, and rather considerable supplies of flour, of good quality, had been received from Moscow via St. Petersburg and Cronstadt. It was expected that previously to the closing of navigation in the Baltic large supplies of Russian, and moderate supplies of Prussian, wheat would be hurried forward. With regard to the French crop, there is certainly a deficiency from the recent abundant years. In some quarters it is said that France will require a very large supply of wheat from abroad; but from trustworthy sources it appears that the deficiency is greatly overstated. The French are certainly taking supplies of wheat at English ports; but it must be borne in mind that as the French crop is deficient in quality, there is the greater necessity to buy fine foreign wheats for seeds; hence, French buyers have made more important purchases for this purpose than customary. A few parcels of wheat and flour continue to be received at English, from French ports, and although unimportant in extent, serve to indicate that there is some exaggeration in the reports current in England of a very deficient French harvest. In Europe the finest crop appears to be in Russia, and as from the high prices ruling here, the English have, for the present, ceased to anticipate large supplies from this port. Much attention is naturally directed to the crop in Russia and on the Danube. In September, 1866, the import of wheat into Great Britain and Ireland was only 1,192,064 cwts., against 2,108,966 cwts. last year, and 2,665,799 cwts. in 1864. The principal import was from Russia, viz.: 687,431 cwts., and from Prussia, viz.: 229,233 cwts. From France only 15,327 cwts. were imported, and from the United States only 42,260, cwts. The import of flour was confined to 103,965 cwts., viz.: 21,843 cwts. from the Hanse Towns, 29,666 cwts. from France, 13,847 cwts. United States, 11,054 cwts. British North America, and 27,605 cwts. from other countries. The following figures show the imports of wheat, flour and Indian corn into Great Britain in nine months; Provisions of all kinds are selling at very high rates, and there are still no signs of an abatement in the quotations. The arrivals of butter have increased, and enormous quantities of eggs have been received at British ports. Lard, which during a great part of the year has sold at high prices, has been imported much more freely, and at latest date the quotations were lower. The imports of provisions into Great Britain in the nine months ending September 30, were as follows: EXPORTS OF BRITISH AND IRISH PRODUCE AND MANUFACTURES. Annexed was the declared value of the exports of leading articles to this country, during the nine months ending Sept. 30, compared with the two previous years: do do With regard to shipping, the following are the particulars, so far as this country is concerned: American vessels entered inwards in September, 1884. American vessels cleared in September, 1864.. do do do do 1865. 1866. in nine months ending Sept. 30, 1864. Number. Tonnage. 62 62.053 do 1865. 247.790 1866.. do do do do do do 1865.. 258 261,466 |