Star.
London, England, 1831-02-16 00:00:00

llNlKT.millions. That the lowest point of &incest= was ID 1829, it
Uri% declined to more than twenty millions below the edictal as will
Ifigaby di following statement from the official returns..
Amount of exports in real value £45,102430
Ditto on official value
Excess of real value
1111111. Amount of exports in official value 65,465,725
Ditto is real value • • • • 35,212,873
Diminution of real value - £20,2512,860
Making a depreciation in real value. of £40,159,287
That at the commencement of the last Session this
House was assured by the Government, it the Speech from
the Throne, " That the exports had exceeded those of any
(ono_ es year, and afforded indications of active commerce,"
although it was admitted "that distress existed in some of
the agricultural and manufacturing districts." It appears,
however, by papers subsequently laid before this House,
that although the exports had exceeded those of the former
year in quantity, as denoted by official valuation to the
amount of
Yet, in real value, they were below those of the former

_
year .

937,666

Being a deprecation in that one year 0f.... • • • £4,383461
It was important to consider the depreciation when the house was called
upon for reductions on taxation in particular quarters. The Hon.
Member said he approved of the duty being removed from printed
calicoes, on the broad principle of the measure, notwithstanding what
had been said to the contrary on the previous night; and that the tax
upon the raw cotton imported would not have the baneful effect which
it had been endeavoured to throw upon it. He spoke from experienez.
But bringing such reductions into action often visited the trader with
weighty sacrifices. In this case there were many merchants who
bad already purchased and paid for their stock, perhaps to the amount
of 6,0001. 014.000 L all of which, or most, now remains on hand,
till the law of reduction came into operation, as the people would
defer further purchases till that time, and then the merchant, if he did
dispose of his whole stock, could not realize within a great deal of
his purchase price. He did not mean to upbraid his Majesty's govern-
ment: in making this allusion, but he had alluded to it as pleading on
the port of those in the trade. It was not to give opposition to, or to
harass, ministers, that be had made the allusion; but it was for the pur-
pose of placing these facts in their view, that they might be better
enabled to judge of such measures as were best to have in view. The re-
duction of the tax upon cotton, in all other respects, would have the
most salutary effects. A penny a pound was to be charged on the raw
cotton, and one pound of cotton was sufficient to manufacture four yards
of calico ; there were threepence halfpenny taken off the yard of printeil
calico, by which there was a relief afforded of threepence farthing on
each yard of calico. But although the relief was thus apparent, the
immediate sensation would be,that the Spring trade would be paralyzed,
as this was the season when that was pushed. forward. The hon. mem.
her said, that all ministers bad, by their policy, tended to diminish our
export trade, not, indeed, in amount, but in real value. Although that
trade may be represented to be brisker, if prices are ruinously low com-
merce must be in a bad state. The hon. Alderman then proceeded to
give a statement of the exports at real value to the effect that setting
aside the official valuations and comparing the actual value of the ex-
ports of latter years with those of the former, an alarming decrease
will appear to have taken place in the foreign trade of the country, as
will be seen by the following averages taken from the same document :
Ten Years Yearly Amount
ending of Exports in Increase. Decrease.
Real value.