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So long as a willingness of the foreign lender and a sufficient export of our productions to meet any necessary partial payments leave the flow of credit undisturbed all appears to be prosperous, but as soon as it is checked by any hesitation abroad or by an inability to make payment there in our productions the evils of the system are disclosed.
The long and peaceful reign of the late king, however, has almost effaced from the minds of the youth of Siam the remembrance of such monstrous oppressions. The Siamese are but indifferent sailors, their nautical excursions being mainly confined to short coasting trips, or boating in safe and familiar channels. The more adventurous export trade is carried on almost wholly by foreigners.
How grandiloquent was Mr Cobden with his "new facts," brand new, as he solemnly assured the House of Commons, which was not convulsed with irrepressible derision on the announcement! Take away L.6,000,000 of the export trade that went to the East Indies, and they had L.10,000,000 of exports," &c.
The amount of ivory brought down from the White Nile is a mere bagatelle as an export, the annual value being about 40,000 pounds.
A tiny exchange, with ten wires, was promptly started in London; and on April 2d, 1879, Theodore Vail, the young manager of the Bell Company, sent an order to the factory in Boston, "Please make one hundred hand telephones for export trade as early as possible." The foreign trade had begun. Then there came a thunderbolt out of a blue sky, a wholly unforeseen disaster.
This trade continued up to the time when the United States entered the war, after which all the restrictions which England had employed were given a sharper application. By a simple process of substitution, European neutrals had been able to import commodities for home use, and export their own products to Germany.
In this city, second only to Manchester in the production of cotton goods, it cannot fail to be interesting to state, that in the first nine months of the present year there has been exported 2,188,591,288 yards of cotton piece-goods manufactured in this country a larger quantity by nearly 150,000,000 yards than the corresponding period of 1867, the year of the largest export of cotton manufactures ever known until then.
The precious timber, which like refuse they cart into the clumsy yawning craters called stoves, or else sell out of the country for economy so called, might not only supply the land for centuries with a proper amount of fuel, either as wood or charcoal, but bring prosperity to many a sequestered village if turned into tools and kitchen utensils, whilst still leaving thousands of trees for export.
Steam-vessels in the Indian ocean will be supplied with coal from Western Australia; and the depots at Sincapore, Point-de-Galle, and perhaps at Aden, will afford a constant market for this valuable commodity. The staple export of the colony is, of course, at present wool.
In the first place, as before observed, the year 1803 was a year of extraordinary exportation. By reference to the accounts, that of the article of flour, for example, there was an export that year of thirteen hundred thousand barrels; but the very next year it fell to eight hundred thousand, and the next year to seven hundred thousand.
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