1830| 29 6 | 34 0 | 64 3 | 32 6 | 1,701,885 | 1831| 39 6 | 39 0 | 66 4 | 27 1 | 1,491,631 | 1832| 34 0 | 33 6 | 58 8 | 24 11 | 325,435 | 1833| 25 0 | 23 6 | 52 11 | 28 8 | 82,346 | 1834| 23 9 | 23 0 | 46 2 | 21 10 | 64,653 | 1835| 23 0 | 24 0 | 39 4 | 15 10 | 28,483 | 1836| 21 0 | 23 0 | 48 6 | 26 6 | 30,046 | 1837| 22 6 | 26 0 | 56 10 | 32 7 | 244,085 | [12] "The excessive consumption of these and other articles has, however, only led to a drain of bullion to the extent of three millions and a half, while, upon a moderate computation, they would appear to call for three times that amount. This is to be accounted for by two facts--The first being that we have not imported, and paid for as much as we have consumed, since, conjointly with our importations, we have been steadily eating up former reserves, so that our stock of all kinds--coffee, sugar, rice, &c., are low; and, next, because we have diminished our importations of raw material in a remarkable degree, and hence, while paying for provisions, have lessened our usual payments on this score. Here, too, in like manner, _we have been drawing upon our reserves_. Our manufactures have been carried on with hemp, flax, and cotton, which had been paid for in former years, and we have left ourselves at the present moment short of all these articles, the stock of the latter alone, on the 1st of January last, as compared with the preceding year, being 545,790 against 1,060,560 bales. We are not only poorer, therefore, by all the bullion we have lost, but by all the stock we have thus consumed. "This _process cannot go on any longer_. We have now no accumulations to eat into, and must, consequently, _pay for what we use_. Concurrently, therefore, with our importations of corn and other provisions, (which are now going on at a much greater rate, and at much higher prices than in 1846,) and just in proportion as they beget a demand for our manufactures, we must have importations of raw material. Large purchases of hemp and flax are alleged to have been made in the north of Europe, for spring shipment, and cotton from the United States is only delayed by the want of ships. Wool from Spain, and the Mediterranean, saltpetre, oil-seeds, &c., from India, and a host of minor articles, have also been kept back by the same cause, and will pour in upon us to make up our deficiencies directly any relaxation shall take place (if such could be foreseen) of the universal influx of grain. In this way, just as one cause of demand diminishes the other will increase, and the balance will be kept up against us for a period to which at present it is impossible to fix a limit.