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Nor will she at present, at any rate, obtain the immigrants on which she is counting to enable her to pay her interest. She cannot redeem the balance due by the export of gold. The burden would be too great in any case, and moreover she has suspended specie payments. A part of the balance due may be covered by the higher value of her exports, such as wheat.
The export cargoes of this class of vessels consist principally of raw cotton, cotton yarn, cotton goods, opium, béche-de-mer or sea slug, pepper, tin, rattans, edible birds'-nests, deers' sinews, sharks' fins, fish maws, &c.
Some day, I said, there might be rivalry, but I thought we might assume that, if it ever happened, it would not be for many years, and that our policy for the present was strongly for Free Trade, so that the more Germany exported to Great Britain and British possessions, the more we should export in exchange to them.
It was now that the British trading class peremptorily stepped in and used the power of government to suppress in its infancy a competition that alarmed them. Heavy export duties were now declared on every colonial article which would interfere with the monopoly which the British trading class held, and aimed to hold, while the most exacting duties were put on non-British imports.
The latter is subsequently separated from the gold by processes which I need not describe, and the gold is afterwards formed into bars for export. I inquired particularly as to the rates of wages. Those who work rock drills in mines, 12 annas to a rupee a day; ordinary coolies working aboveground, 4 to 8 annas; and women, 2 to 4 annas a day.
From 1886-87 the exports began annually to decrease until in 1895-96 the very low figure of 8,296 maunds was reached. The figures of export for the last nine years are as follows: 1896-97 16,726 maunds 1897-98 7,805 maunds 1898-99 9,272 maunds 1899-00 5,422 maunds 1900-01 29,142 maunds 1901-02 38,251 maunds 1902-03 36,047 maunds 1903-04 50,990 maunds
Franklin was of opinion that export duties were "a knavish attempt to get something for nothing;" that the inventor of them had the "genius of a pickpocket." Britain had lost her colonies by an export duty on tea.
He even suffered the humiliation of having portraits at five-and-twenty francs a-piece refused, because he failed to produce a likeness; and he reached the lowest degree of distress he worked according to size for the petty dealers who sell daubs on the bridges, and export them to semi-civilised countries.
He tells me that if we do up tacks in two third of an ounce lots and stick that label on each package, we might do some good business out there. That label it don't matter which is the top of the thing calls for a price that figures out to us at about two cents a pound more than our regular export rates. I want this gentleman to have a trial lot shipped out to him and he'll see what he can do.
Wherever it is possible, the section that produces the raw material ought to produce also the finished product. Grain should be ground to flour where it is grown. A hog-growing country should not export hogs, but pork, hams, and bacon. The cotton mills ought to be near the cotton fields. This is not a revolutionary idea. In a sense it is a reactionary one.
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