was a cessation of the tea trade with Canton. Last year, even with the
effects of the commercial panic of the previous year, and the stoppage
of Canton trade, the aggregate commerce with China, British and Indian,
was over L20,000,000, exclusive of any colonial trade, Australian,
or with the Archipelago. In 1833, the declared value of the British
manufactures exported to China was only L630,578; in 1840 it was as low
as L524,198; and at the close of the war of 1842 it stood at L969,381.
In a few years after the opening of the five new ports to foreign
commerce, the value of British goods shipped had increased fully 50 per
cent., while it has now nearly tripled in value.

"The import and consumption of tea in this country has more than doubled
since the consular ports were thrown open. So also with silk. As we
have formerly shown, the demand has been extensive, and China can supply
enormous quantities. From a trivial export, silk has become the second
great staple of shipment. Although our imports from China have hitherto
consisted chiefly of three or four principal staples, there is no
reason, looking at the extensive resources of that vast empire, why
they should continue so restricted. Something has even been done of late
years in this respect. Chinese wool has come in to some extent, having
risen in some years to half a million of pounds; although, from its
harsh quality, and mixed and dirty character, it is only fitted for
coarse woollens, yet it is saleable at low prices. There are other
drugs, besides camphor, rhubarb, and essential oils to be obtained
thence. A demand has sprung up for sugar, and we can draw supplies
from China as well as from Manilla. There are other spices too, besides
cassia lignea, to be procured from China.

"In addition to the exports to Great Britain, China exports tea, silk,
drugs, and sundries to the continent of Europe, North and South America,
Australia, New Zealand, India, and the various settlements of the
Eastern Archipelago. The Indian trade has now reached about L10,000,000
in value, one article, opium, constituting the chief export; and
this, since the recent treaty, had increased in value by upwards of
L1,500,000. The shipments of cotton from India to China would seem to
be declining. Whether this arises from a greater demand from England,
an increased home production in China, or the internal rebellion, we
are not prepared to state. The American imports from China, since the