The Trade Policy of Great Britain And Her Colonies Since 1860

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This last, for instance, was the way in whk the great difference of 1877 arose, I have, however, no intention of discussing tl i principles of the Balance of Trade at this stage,^ afl need not go into the British statistics of the imports export of the precious metals.^ So far we have been concerned only with the values!
the total imports and exports, not with quantities a volume. When, however, we consider the changes price mentioned above, relying on Rawson's figure the matter assumes a diffe
...rent aspect.
It is impossible, indeed, to get direct figures of total trade as regards quantity, for want of a cotni unit of measurement. But it may be inferred, fi Rawson's Tables of Prices quoted above, how great part of the commercial prosperity in the middle of sixties, and, to a lesser extent, of the years 1870 1872, was due, not to increase of quantity, but to rise price ; and, conversely, to what extent the depression trade from 1876, and again from 1884, was due, ni ^ See below, p. 206.
2 They may be found in the blue book, Comparative Trade Staiistics^ 181 Table No.


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