Blackwood's Edinburgh Magazine, Volume 69, No. 423, January 1851Various
History
Blackwood's Edinburgh Magazine, Volume 69, No. 423, January 1851
Various
England -- Periodicals; Scotland -- Periodicals
Pork. Hams. Lard.
barrels. lb. barrels.
1840, 66,281 1,643,897 7,418,847
1841, 133,290 2,796,517 10,597,854
1844, 161,629 3,886,976 25,746,385
1849, 253,486 56,060,822 37,446,761
Now, if the doctrine of the Free-traders is a true one, it will follow
that the imports of America must be on a scale corresponding to the
magnitude of the exports. If that be so, the fact will be evident on
the face of their revenue accounts. We turn to these, and find the
following results:--
CUSTOMS REVENUE FROM THE IMPORTS TO THE UNITED STATES.
Dollars.
1844-5, 27,528,000
1845-6, 26,712,000
1846-7, 23,747,000
1847-8, 31,757,000
1848-9, 28,346,000
How, then, and in what shape, were these enormous exportations of grain
and provisions paid for? Not certainly in goods, for if that were so, a
corresponding increase would be apparent in the revenue accounts. The
answer is quite short--in gold, and in that commodity which ought to be
regarded as far more valuable than gold--MAN.
It is a fact of no small interest, that the ship-owning corn-merchants
have willingly sold grain in Liverpool for less than they could have
got for it in the States, in order to insure the return cargo--that
which they find so profitable--emigrants. Mr Blain, who was engaged for
many years by the Jews of London and Germany in valuing the growing
crops of America, gives the following account of this apparently
unreasonable process:--"The shipowners of America are making much
money by carrying emigrants to the States: they are now extensive
corn-merchants, and are buying largely at very low prices, it being
better to carry wheat across the Atlantic, and sell it at 2s. per
quarter less than it cost, than buy ballast, which is very dear in
the American seaports."[31] Steam, too, is now about to be applied
in furtherance of this traffic, and we read of magnificent steamers
built expressly for the corn and emigrant trade between New York and
Liverpool. By the way, with freights at 6d. a barrel of flour, (the
rate in September 1849,) equivalent to 1s. per quarter of wheat, what
becomes of the once favourite sophism, that the Atlantic afforded a
natural protection of at least 10s. to the English farmer? Nor should
it be forgotten that the American farmer finds it his plain interest
thus to part with his surplus production, procuring in return that of
which he stands so much in need--labour; and the vast emigration from
the western states to California has rendered European labour more
valuable and welcome to him than ever.
Public-domain text, read in full here on John Shaqi.
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