but also from other countries, has the additional advantage of securing a profitable exchange business, and the exclusive freight upon this vast amount of treasure.

13. These advantages England has acquired through her sagacious and liberal policy, in supporting regular and safe lines of steamers to Mexico, by which her merchants have frequent and regular communication with that country, and a convenient and always reliable means of receiving their returns in the precious metals.

The importance of this fact cannot be overestimated.

It affords at once a key to the whole secret why our trade with Mexico-and with all the Spanish American countries with which we have not Steam Communication, (and the only exception is Cuba)-has declined and become almost lost, while England's trade has largely advanced, and she is every day more completely and entirely taking their commerce away from us.

EFFECT OF STEAM COMMUNICATION UPON THE COMMERCE OF GREAT BRITAIN.

14. The vast increase of late years of England's trade over our own, not only with Mexico and Spanish America, but with other countries, can be traced solely to the facilities which she has afforded to her commerce with those countries by establishing regular lines of Mail Steamers supported by Government subsidy, and which facilities we on the contrary have failed to supply. The truth of this position will be fully demonstrated by the statements which follow.

The policy which has proved so advantageous to England in securing the commerce of Mexico, has been pursued by her with reference to her trade with Brazil. A line of Mail Steamers was subsidized and commenced running to Brazil, in 1851. The immediate and powerful effect was manifested in an increase of British exports to that country of about one million sterling, ($5,000,000) the first year, and in five years the entire trade, imports and exports of England with Brazil, increased two hundred and twenty-five per cent.

Up to 1857, a period of seven years since the establishment of Steam Mail lines to Brazil, the annual exports of British products to that country have more than doubled, while during the seven yearsvious, without Steam Commerce, the increase was only five per cent., not five per cent. annually, but five per cent. for the whole period of seven years preceding the introduction of Steam Communication.*

15. Brazil and Mexico are not isolated instances in this regard; the same rule holds good with reference to the establishment of steam communication between Great Britain and other countries.

Take, for instance, the increase of exports from Great Britain to the United States, consequent upon steam communication, as shown by the following statement:

For this, and other valuable statements which follow, with reference to the effect of steam communication upon the commerce of Great Britain, acknowledgment is made to a most interesting and able work, recently published by Pliny Miles, Esq., upon the "Advantages of Steam Communication between Europe and America." The reductions from sterling are made at $5.00. to the £.

Statement showing the value of British manufactures and products exported to the United States every tenth year from 1800 to 1840, and every third year since 1841.

The Cunard Steamers were subsidized and commenced the mail service in 1840. The exports of British products to the United States, it will be seen, underwent no perceptible increase from the year 1800 to 1840, although the population of the United States during that period increased from five to seventeen millions, and the general trade and business of the country in like proportion. But since the introduction of Steam Communication, mark the results. While for forty years there had been no perceptible increase in this trade, yet in 16 years of Steam Communication, British exports to the United States rise from less than 30 millions per annum to upwards of 120 millions per annum, or fourfold. These figures, it will be noticed, give the exports of British products and manufactures alone, not of the entire trade.

16. Again, since 1850, Steam Communication between the United States and Great Britain has increased over

100 per cent. Take, then, the average exports for seven years before that date, and seven years thereafter.

Statement showing the average annual exports of British products and manufactures to the United States for two periods of seven years each, before and after 1850:

PERIOD.

ANNUAL VALUE.

PERIOD.

ANNUAL VALUE.

From 1844 to 1850. $49,509,595|| From 1850 to 1857. $96,013,305

Steam Communication between Great Britain and the United States since 1850 has doubled; and what is the result? That British exports to the United States for the same period have also nearly doubled!

No one can possibly misunderstand the lesson conveyed by these facts. Steam Communication has in 16 years more than quadrupled the exports of British products to the United States, while in the preceding 40 years they had remained about stationary, or absolutely declined; and by doubling these facilities the exports have doubled.

17. The following statement gives a fair view of the increased sale of British products and manufactures in the different countries of North and South America, as produced by and largely dependent upon her Ocean Steam Mail service.

Statement showing the exports of British and Irish goods only (not foreign products) from Great Britain to the several countries named, in 1842, and also in 1856; two periods with 14 years intervening, during which time, almost the entire Ocean Mail service of Great Britain has been created:

These results are certainly very satisfactory-to England. They show, that on account of the Steam facilities. which have been introduced through the aid of Government subsidy, the annual sale of British products in British North America and the United States, has increased, between 1842 and 1856, from $29,311,660 to $130,092,410, a net annual gain of more than $100,000,000; and that the West India and Spanish American trade, though not giving so large a result, is equally satisfactory in proportion to the facilities that have been afforded, having increased in the same period from $40,371,015 to $66,542,935, a net annual gain of over $25,000,000.