The British Empire Can It Be Long Maintained in All Its Integrity Under the

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The British Empire Can It Be Long Maintained in All Its Integrity Under the
A True Conservative Senex
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The exports have fallen off nearly 3^ per cent, against June last year ; and the imports show an increase of over 5 per cent. As the reduction in the value of the exports is still due to receding prices, the actual bulk of the export trade may be said to be well maintained, and that is so far satisfactory ; but after making all alloivance for this, the figures are disheartening. That the imports should continue to maintain so high a level against ever-receding export values is also unsatisfacto...ry when the source of the increase is examined. Dearer food may be said to be the cause of the ivhole of it^ wheat and tcheaten flour alone covering more than the excess. We have^ therefore, no longer the same large im- ports of raw materials for manufacture which swelled the returns of 1875, and helped to sus- tain those of 1876. On the contrary, cotton^ hemp^ jute, and wool were all received in much lesser quantities last month^ and only flax and silk in marked excess. The import totals of value are therefore sustained by the greater import and The total value of the exports for the month of January was £15, 946, 000, or considerably less than half the value of the imports of the same period.

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