rior speed, size, and ability to cope with all kinds of weather, is able to make four times as many voyages in a year as a sailing-vessel, and that, in comparing the steam tonnage of the late decades with the sail tonnage of the earlier ones, the former must be multiplied by four to give it a proper comparison with the unit of sail tonnage. Reducing the steam tonnage to that of the standard of measurement at the beginning of the century, we find that the carrying power of vessels on

growth of the one was coincident with at 13,045,000, and the sail tonnage at that of the other. The application of 11,045,000. The rapidity of growth of steam to transportation of merchandise steam transportation, however, can only by rail began in England in 1825, and in be realized when it is remembered that the United States in 1830, the number the steam-vessel, by reason of its supeof miles of railway in the world in 1830 being about 200. In that year, the world's commerce, according to the best estimates obtainable, was $1,981,000,000 as against $1,659,000,000 in 1820, an increase in the decade of barely 17 per cent., while in the preceding decades of the century the increase had been even less. By 1840, railways had increased to 5,420 miles, and commerce had increased to $2,789,000,000, an increase of 40 per cent. From 1840 to 1850, railways increased to 23,960 miles, and commerce had increased to the ocean had increased from 4,026,000 $4,049,000,000, a gain of 45 per cent. By 1860, the railways had increased to 67,350 miles and commerce to $7,246,000,000, an increase of 79 per cent. By 1870, the railroads had increased to 139,860 miles and commerce to $10,663,000,000; by 1880, the railroads had increased to 224,900 miles and commerce to $14,761,000,000; by 1890, the lines of railroad amounted to 390,000 miles and commerce to $17,519,000,000; and, in 1898, the railroad lines aggregated 442,200 miles, and commerce $19,915,000,000. A single in stance will indicate the development which the railroad gives to the commerce of a country. India, with 300,000,000 of population and 22,000 miles of railway, has seen her commerce increase nearly 60 per cent. in the past twenty-five years, while that of China, with 400,000,000 of people, but no railways, has increased about 30 per cent. in that time.

tons in 1800, to 10,482,000 in 1840; 21,730,000 in 1860; 37,900,000 in 1880; 48,800,000 in 1890; and 63,225,000 in 189899, of which last enormous total but 11,450,000 was sailing tonnage. Not only has greater carrying power come on land and sea, but with it increased speed and safety. A century ago the voyage to Europe occupied over a month, and was a cause for constant anxiety as to the life of those travelling and the cargo carried by the vessel; now it is a holiday excursion of five days, in which there is no more thought of danger than on the cycle-path or an elevated railway.

News of the West India hurricane in 1818 reached the United States fully thirty days after its occurrence, while Havana is to-day less than forty-eight hours from New York. The first vessel from New York to China occupied fifteen months on its round trip, and a voyage to the Orient, In the meanwhile steam had also revo- before the introduction of steam, occulutionized the carrying-trade on the ocean. pied from eight to twelve months for the The first steamship crossed the ocean in round trip, while now it can be accom1819, and the total steam tonnage afloat plished both ways in a little over one in 1820 is estimated at 20,000 tons, month. Not only have recent years against 5,814,000 of sail tonnage. By brought increased speed and facility in 1840, steam tonnage had increased to the moving of commerce, but, with that, 368,000, while sail has grown to 9.012, increased safety, thus reducing the dan000; by 1860, steam had reached 1,710,- ger of loss of both life and property; 000, while sail was 14,890,000; by 1870, while, in the matter of cost, the reducsteam tonnage was 3,040,000, and sail had tion has been enormous, many articles dropped to 13,000,000; by 1880, steam which then could not possibly bear the had become 5,880,000, and sail 14,400,000; cost of transportation now forming an by 1890, steam had reached 9,040,000, and important part of the world's commerce. sail had dropped to 12,640,000; and, in Even in sailing-vessels, which still per1898, the steam tonnage was estimated form about one-fourth of the world's sea

telegraph for commercial purposes was

transportation, steam is being utilized to perform many duties formerly accom- constructed in 1844, and so quickly did plished by hand-power, such as the hoisting of heavy sails, the steering of the vessels, and the handling of cargoes; and thus, as the size of the sailing-vessels is increased, the number of men required to manage them is reduced.

Still another influence which steam has given to commerce is the resultant increase in the quantity of goods offered for transportation. The great areas far removed from water transportation could never have been able to contribute to the world's supply of bread-stuffs without the railway to transport their products to the water's edge, and the capacity of men for production of food-stuffs or manufactures, which form the bulk of the world's commerce, has been multiplied by the aid of steam in the workshop, and even on the great farms, where steamploughs, steam-wagons, and steam-threshers increase the producing power of man, and reduce the cost of the product which he sends around the world for daily consumption by millions who could not have afforded its use in the early years of the century.

its influence become apparent that several thousand miles were in existence by 1850, while by 1860 the total had reached nearly 100,000 miles, by 1870 280,000 miles, by 1880 440,000 miles, by 1890 768,000 miles, and by 1900 1,000,000 miles. Submarine cables, by which the international commerce is guided and multiplied, date from 1851, in which year 25 miles were put into operation across the English Channel. By 1860 the total length of successful lines was about 1,500 miles, though one cable laid across the Atlantic, and another through the Red and Arabian seas, meantime, had worked long enough to prove the practicability of the enterprise. By 1870 the submarine cables in operation amounted to about 15,000 miles, by 1880 to about 50,000 miles, by 1890 to 132,000 miles, and by 1898 to 170,000 miles, the number of messages transmitted on them being 6,000,000 a year, while those by the land telegraphs are estimated at 1,000,000 per day, the greater proportion of both being in the service of commerce.

Invention has also contributed largely Electricity, whose use in behalf of com- to the development of commerce, both dimerce was nearly contemporaneous with rectly and indirectly. What share it has steam, has also performed an important had in that wonderful growth can scarcely part in increasing the activity and volume be estimated; but, when we consider to of commerce. The merchant who desired what an extent the development of manuto send a cargo across the ocean or to factures, as well as of agriculture, has the other side of the globe did so formerly been the result of labor-saving machinery at great risk as to prices, or else after and ingenious devices of men, it is aplong correspondence and vexatious delays. parent that to invention is due much, Now, not only the dealer in the cities, but very much, of the enormous increase of the very farmer who grows the grain, or production, and consequently the increase the workman who produces the iron and of exchange from section to section and steel, knows this evening what was its from continent to continent. The cottonprice in the markets of London and other gin, which had but begun to make itself parts of the world this morning. The felt at the beginning of the century, the merchant who desires to sell in Europe reaping and threshing machines, by which may contract his goods before shipping, labor of grain producing is greatly reand those who would make purchases in duced, the application of machinery to the Orient or the tropics can give their mining operations and the handling of orders to-day, with the confidence that the product of mines, the engines-those the goods will start to-morrow and reach powerful and intricate machines—which them at a fixed date in time for the transport the merchandise to the seaboard, markets at their most favorable season. and the railways on which they run, the The growth of the telegraph and ocean steamships, the screw propeller, the iron cable has, like that of the railway and and steel vessels, and the thousands of steamship, being contemporaneous with articles from the factory which form an the growth of commerce. The first important part of the cargoes which they

carry all these are the inventions of the commerce-not only the commerce of the century, and all have contributed greatly to the producing and transporting power of man, and consequently to the multiplication of the commodities which he produces and exchanges.

Finance and financiers have contributed enormously to the growth of the commerce of the century. The gold discoveries in California and Australia, and later in other parts of the world, have greatly increased the volume of the circulating medium and encouraged the creation of a single and well-defined standard of value, so that the merchant may make his sales and purchases with an assurance that payments will be made in a measure of value acceptable to the whole world, and losses and uncertainty of traffic thus avoided. The supply of this precious metal has increased enormously during the century. Chevalier estimated that the amount of gold in Europe in 1492 was but $60,000,000. From that time to the beginning of the century, the average gold production was about $8,000,000 a year; from 1800 to 1850, about $15,000,000 a year; and, since that date, it has ranged steadily upward, until it has reached over $300,000,000 a year, thus multiplying many times the stock of the standard metal of the world. The result of this is that 95 per cent. of the commerce of the world is now carried on between nations having a fixed and wellregulated currency, with gold as the standard. Add to this fact the developments of the financial and credit systems, by which sums due in one part of the world are balanced against those due in another part, and by the use of simple pieces of paper the transportation of any considerable sums of money from place to place and country to country avoided, and it will be seen that finance has had much to do with the century's commercial growth.

enemy, but, in many cases, that of any others against whom the slightest suspicion could be charged-practically sus pended European commerce. In addition to this, the danger from pirates, which then constantly existed in certain parts of the ocean, was increased during war times. During the first fifteen years of the century, British, French, and finally all European vessels were practically prohibited from engaging in commerce by the Napoleonic wars, and the commerce of the world was largely thrown into the hands of our own shipping, until the War of 1812 and the events immediately preceding it. With the advance of the century, wars became less frequent, and of shorter duration when entered on; while piracy has been generally suppressed, international laws for the protection of shipping enacted, and regulations established for the protection of those engaging in commerce. Not only has the actual loss from these causes been materially reduced, but the increased safety and absence of danger from losses have encouraged the increase in shipping and in commerce itself.

Many other causes might be named as contributing largely to the wonderful increase in commerce during the century. The area under cultivation in Europe, America, and Australia is estimated to have increased from 360,000,000 to nearly 900,000,000 acres ; the coal-mines have increased their output from 11,000,000 to 600,000,000 tons; pig-iron production has grown from 460,000 tons to 37,000,000; cotton production has increased from 520,000,000 to 5,900,000,000 pounds; while the value of manufactures has increased perhaps a thousandfold in the 100 years. But all these are the results in a greater or less degree of the five great causes named above. Another cause "Peace," it has been said, "hath her which is frequently urged as contributing victories no less renowned than war," largely to the increase of commerce in the and peace has doubtless been an important middle part of the century, is the repeal factor in the wonderful development of of navigation laws and excessive tariffs. the century's commerce. Nothing so While this is, doubtless, entitled to conquickly affects commerce as protracted sideration, it is difficult to measure the warfare. This was particularly notice- share which it had in the development of able in the early part of the century, when that period. Steam, electricity, and gold the seizure of vessels, the impressment of discoveries were at that moment combinseamen, and the general destruction of ing to stimulate commerce, while the fact

To discuss the part which the various reduction in prices of the merchandise nations have had in this commerce, the whose value only is stated fully offsets relations of imports to exports, or the any increase in the closeness with which classes of articles exchanged between the the field has been gleaned, and that the great sections of the globe, would carry figures represent with a fair degree of this study beyond reasonable limits. In accuracy the relative quantity of merall of the above statements, the term chandise moved at the various periods "commerce" has covered both exports under discussion. While the fact that and imports, and has included the ex- the exports of each nation always become

COMMERCE OF THE UNITED STATES-COMMISSIONERS

the imports of some other nation would late and create commerce, show such a suggest that export and import ought to marvellous growth as that of the century balance each other in the grand aggregate, it is found that they do not, since the freight, insurance, and brokerage are in the most cases added to the export price in naming the value of the goods where they become an import, thus making the stated value of the world's import usually from 5 to 10 per cent. in excess of the stated value of the exports.