The Sun.
London, England, 1855-12-28 00:00:00

MITTEE OF PRIVY COUNCIL FOR TRADE.

My Lords,—ln laying the second volume of the
foreign trade and navigation of the United Kingdom for
the year 1854, upon the new plan of accounts before
your lordships, I beg to advert to the successful accom-
plishment of the very important work, the valuation,
according to the average market prices, of our general
imports, and of our exports of foreign and colonial mer-
chandise.

Hitherto the only real value obtained for our foreign
commerce has been confined to the exports of the pro-
duce of the United Kingdom. For the general imports
and the rest of our exports the official value could alone
be given. It is well known how much the dissatisfac-
tion of the public was increased, year by year, at the
continuance of a value for such important portions of
our foreign commerce according to rates fixed so long
back as the year 1694.
A Treasury minute in October, 1854, directed the
Commissioners of Customs to introduce a system by
which the real values, hitherto wanted, should be com-
puted upon the basis of the actual prices. Mr. Mes-
senger, the Inspector-General of Imports and Exports,
was charged with this important service ; and a new
system is commenced in the present accounts. The ave-
rage annual prices fixed for the valuations are, pi inci•
-ally, those of the London and Liverpool markets. In
ach place one gentleman was specially employed to ob-
tain prices for the Custom-house. Many of the princi-
pal merchants and brokers were consulted, and also
som• of the Chambers of Commerce. All the aid applied
fur at the hands of the mercantile gentlemen was most
willingly furnished, and often not without considerable
trouble.

The prices used and specified in the accounts are for
the articles in bond, including all the charges of freight
and landing, but exclusive of the duties.

The total value of our imports in 1854, as computed
by the old and new systems, shows the following com-
parison :

Old official value £124,338,478
New computed real value 152,591,513

Which shows an excess of }
228 , 25 p
real value of 3,035 or 22i er cent.
Of the imports from foreign countries and British
possessions respectively, from Abstract Table No. 6, the
same comparison shows :

Official value
Real value....

FROM FOREIGN COUNTRIES.
£93,940,967
118,439,488

An excess of real value of £24 498,521 or 2G per cent.
FROM BRITISH POSSESSIONS.
Official value £30,397,511
Real value..... 34,152,025

An excess of roal value 0f... £3,754,514 or 13A per cont.
And with respect to the principal articles imported in
1854, the ♦ariation of the two systems of value, the fol-
lowing are presented as examples from No. 10 of the
abstract tables :

Articles. New Old
Real value in excess : Real value. Official value
Wood, timber, deals, and staves 5:11,062,094 £1,812,690
Corn and flour. 21,760,283 10,138,778
Wool . 6,499,004 2,722,713
Wine
Butter
Hemp
Flax seed and linseed 2,545,107 835,8,354
Silk, raw and waste 5,403,250 3,433,471
Brandy 1,225,332 3 9,154
Tallow 2,348,311 792,474
Official value in excess :
Cotton, raw . 20,175,395 28,656,756
Cotton manufactures .
Tea 691,285 1,033,228
............................. .
Coffee
Cochineal
Madder . .....
......... .
The total value of our exports of foreign and colonial
produce, by the old and new system (froni Abstract
Table No. 7), is :
Old official value ........
Newreal value ..... . .. .......
...

£29,821,656
18,645,978

Tho old value being in excess by ...,..£11,172,678
or 38 per cent.
The annual commercial volume of the United King.
dom is no longer inferior to those of foreign countries as
regards a complete system of real value ; and in one re.
4441/4et our valuation may b e considered as superior to
ington eaocrcoo
rtdhienrgto nations,the oarsigiitn iso
f foundedthe upon
article i
Inported.—l
have the honour to be, my lords, your most obedient
servant, A. W. FONBLANQUE.
Statistical Department, Board of Trade,
Whitehall, December, 1855.

CHESTER AND HOLYHEAD RAlLWAY.—Traffic retuni for
the week ending Dec. 23, 1855 4:4,355 14 1
Corresponding week last year 4,425 16 6

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