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■7 3 a i>~

Lel$d$tanford|?

university



^tjJftRARV




INAL
1MPANY

roadway



r>. PHELAN



Engravers and Printers

OF

)NDS AND STOCK CERTIFICATES.
FOREIGN BANK NOTES
And All Documents Requiring Security.



Engraving and Printing

from Steel Plates Exclusively, with every

Safeguard Against Counterfeiting and Alterations.



All Work Guaranteed Standard and Acceptable on the

NEW YORK STOCK EXCHANGE.



This Company is an Independent Corporation, and
has noflBBBMI any Combinations.

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<<



Timely and Authoritative/



COMMERCIAL CUBA.

A BOOK FOR BUSINESS MEN.
By William J. Clark.

Witfi 8 Maps, 7 Plans of Cities, and 40 Full-page Illustrations, and a Commercial

Directory of Cuba.

LARGE 8V0, 514 pp., $4.00.

* < 'TpHIS is easily the best book on Cuba whiclfhas so far been
1 published. It is not a mere compilation [of other men'sl
ideas, but an entirely original work by a man of great ability." —
Philadelphia Evening Telegraph.



( < k THOROUGHLY good and useful book.
J\ We should not know where to find
within another pair of covers so much
and so carefully sifted information bearing on
this subject. His painstaking account of the
railway and telegraph systems ; of highways and
harbors ; of rivers and water-supplies, and light-



houses ; of sugar and tobacco growing ; and his
detailed description of each province and of
every city of size, together with a * business
directory » for the whole island, make hie book
one of great value for reference as well as for
practical guidance. Its accuracy is c eiiainly of
a high order "-New York Evening Pobt.



CHARLES SCRIBNER'S SONS, 153^57^7 /^,iN,Y



NPW TORE.



T HE NATIONAL CITY BANK

OF NEW YORK.



AND PROFITS






Luns Still* an, President. G. S. Whitson, Cashier.
Samuel Sloan, Vice-Pres. Jas. Ross Curran, Ass't Cash
Wm. A. Simonson, ad A. Cash.



. Sloan, Vice-Pres.
A. B. Hepburn, Vice-Pres.



THE EQUIPMENT OF THE FOURTH
NATIONAL BANK OF THE CITY OF
NEW YORK — CORNER NASSAU AND
PINE STREETS — IS ESPECIALLY AR-
RANGED FOR HANDLING MERCANTILE
ACCOUNTS.



THE



CHASE NATIONAL BANK,



Clearing House Building,
77-83 CEDAR STREET.



CAPITAL ,
SURPLUS



$1,000,000
$1,000,000



CHARLES H. FANCHER, President.
» F. Mattlagb, V.-Pres. Jambs Dbnnison, Cashier.
Jam R. Waters, 2d Vice-Pres. Benj. F. Werner, A. C'r.

IRVING NATIONAL BANK,

GREENWICH ST.. COR. WARREN, N. Y.

Capital, $500,000. - - Surplus, $350,000.

' Business and Personal Accounts Invited.



Garfield National Bank,

23D STREET and SIXTH AVENUE,
Nbw York City.

Capital and Surplus - - $1,000,000

W. H. Gelshbnen,' President. R. W. Poo*, Cashier.
C. W. Mobsb, Vice-President. W. L. Douglass, At C'r. 1
Directors— James H. Breslin, James McCutcheon, W. H.
Gelshenen, Charles T. Wills, Robert Dunlap, Charles W.
Morse, Harry F. Morse.

' MILWAUKEE, WIS.



Statement of the Condition of

The National Exchange Bank

OF MILWAUKEE
At the close of business, October 5, 1897.



mm-



¥t



DIRECTORS— Chas. Ray, President ; J. H. Van Dyke,
G. D. Van Dyke ; Grant Fitch, Cashier ;J. W. P. Lombard,
Vice-President ; Sam'l^M. Green, Jacob E. Friend.



CAPITAL
SURPLUS



$1,000,000
$250,000



T HE FIRST NATIONAL BANK

OF MILWAUKEE.
U. S. DEPOSITORY.
Officers : Frank G. Bigelow, President ; Wm. Bicblow,
Vice-President ; Frank J. Kiff, Cashier; T. E. Camp, Ass't
Cashier ; F. E. KRUROBR.fad Ass't Cashier.

CHICAGO, UAj.

Commercial National Bank,

CHICAGO, ILLINOIS.

CAPITAL $1,000,000

SURPLUS $1,000,000

James H. Eckels, President. D. Vernon, 2d Vice-Pres.
John C. McKeon, Vice-Pres. Jos. T. Talbert, Cashier.



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y



4?



Manhattan Trust Co.,

Wall Street, corner Nassau, New York.

Capital and Surplus, #1,500,000,



ohn I. Waterbury, President.
Charles H. Smith, Secretary.



— OFFICERS-



ImosT A fWh. \ Vice-Presidents.



W. North Duane, Treasurer.



— DIRECTORS —



August Belmont New York.

H. W. Cannon ....Ntw York.

A. J. Camatt Philadelphia.

R.J. Caoss New York.

Ruoulph Elus Philadelphia,

Amos T. Frinch New York.

John N. A. Geiswolo New York.

H. L. HicciNSON Boston.

John KraN....... New Jersey.



John Howmo Latham New York.

John G. Mooti New York.

E. D. Randolph New York.

Grant B. Schlby New York.

Jambs O. Sheldon New York.

Samuel Thomas New York.

Edwabd Tuck Sew York.

John I. Watirbury New York.

R. T. Wilson New York.



Manhattan Trust Company is a Legal Depository for Court and Trust Funds and General Deposits. Interest
paid on balances subject to cheque at sight through the New Yorh Clearing House* and higher rates allowed upon
deposits payable at specified dates or subject to notice.

The Company is authorised to act as Administrator, Executor, Guardian, and Receiver; as Fiscal <Agent for
the payment of Bonds, Coupons, Dividends, etc., of States, Municipalities, T(ailroads, and other Corporations; at
Trustee under (Mortgages or 'Deeds of Trust securing issues of bonds % and as Registrar and Transfer *Agent of the
Stocks and Bonds of Incorporated Companies; as Trustee of Estates and Individuals; and for the transaction of all
such business exceptional facilities are offered.



Maryland Trust Co.,

Corner South and German Streets,

BALTIMORE.
Capital, $1,500,000. Surplus, $1,500,000.

A Legal Depository for Court and Trust Funds.

Acts as Financial Agent for States, Cities, Towns, Railroads, and other Corporations. Transacts
a general trust business. • Lends money on approved security. Allows interest on special deposits.
Acts as Trustee under Mortgages, Assignments, and Deeds of Trust, as Agent for the Transfer or
Registration of Stocks and Bonds, and for the payment of coupons, interest, and dividends.



J. WILLCOX BROWN, President.
HENRY J. B0WD0IN, 2d Vfce-Prest.



LLOYD L. JACKSON, 1st Vice-Prest.
J. BERNARD SCOTT, Sec. and Treas.



Wm. A. Marburg,
H. J. Bowdoin,
Basil B. Gordon,
Uovd L. Jackson,
I. Willcox Brown,
Joshua Levering,



DIRECTORS :



Frank Brown,
Leopold Strousc,
Henry Walters.
H. A. Parr,
B. N. Baker.
Andrew D. Jones,



James Bond,
Alexander Brown.
W.B.Brooks, Jr..
Clayton C. Half.



Frederick W
J. D. Baker,



Wood.



W. H. Baldwin, Jr..
Geo. A. von Lingen,
loseph E. Willard,
John A. Tompkins,
Seymour Mandelbaum,
John Pleasants.



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AUGUST BEL10IT & CO.,

No. 23 NASSAU STREET,

AGENTS AND CORRESPONDENTS OF THE

Messrs. ROTHSCHILD,

LONDON, PARIS, FRANKFORT ANO VIENNA.

ISSUE CIRCULAR CREDITS FOR TRAVELERS,

AVAILABLE IN ALL PARTS OF THE WORLD.



ALSO COMMERCIAL CREDITS.



Draw Bills of Exchange and make Cable Transfers to Europe, West
Indies, Mexico and California.

Execute orders for the purchase and sale of Investment Securities,



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Duplex system, — *^ ml m Duplex System.

DIRECT COMMUNICATION BY FIVE CABLES.

THE ONLY DIRECT ROUTE TO GERMANY.

CARRYING CAPACITY FAR IN EXCESS OF ANY OTHER COHPANY.

The Route of this Company, being the SHORTEST, is used by all
the PRINCIPAL STOCKBROKERS to whom the QUICKEST
OBTAINABLE SERVICE is essential.

Telegrams "VIA ANCLO CABLES" to

Europe, Egypt, East and West Coasts of Africa, Turkey, India, China, Cochin-China, Corea,
Manila, Japan, Australia, New Zealand, South America, Zanzibar, Mozambique, Arabia, Cape of
Good Hope, Cape Verde, Madeira, and the Canary Islands, etc., etc.

Basement of Stock Exchange.






i 8:

( 44



MPW York nFFirP*. J 8 Broad Street > Telephone No. 2431 Cortlandt.
NEW YORK OFFICES . < l6 Beaver Street, " " 870 Broad.



445 Broome Street, " "691 Spring.

MONTREAL OFFICE : 52 St. Francois Xavier Street, Telephone No. Bell 1027.
OFFICES IN EUROPE:



LONDON : 71 Old Broad Street, E. C.

44 109 Fenchurch Street, "

" 46 Mark Lane, "

14 2 Northumberland Avenue, Charing Cross,

W.C.

•• Hay's Wharf, Tooley Street, S. E.
LIVERPOOL : At The Exchange.
BRADFORD : 10 Forster Square.



BRISTOL : Back Hall Chambers, Baldwin Street.
DUNDEE : I Panmure Street.
EDINBURGH: 50 Frederick Street.
GLASGOW : 29 Gordon Street.
MANCHESTER : 7 Royal Exchange, Bank Street.
NEWCASTLE-ON-TYNE : ! Side.
PARIS AGENCY : yf Rue de Caumartln.
HAVRE : 1 18 Boulevard Strasbourg.



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J. P. MORGAN & CO.,



WALL STREET, CORNER BROAD,



NEW YORK.



DREXEL & CO.,

Corner of $th and Chestnut Streets,

PHILADELPHIA.



MORGAN, HARJES & CO.,

ji Boulevard Haussmann,
PARIS.



DOMESTIC AND FOREIGN BANKERS.



Deposits received subject to Draft. Securities bought and sold on com-
mission. Interest allowed on Deposits. Foreign Exchange.
Commercial Credits. Cable Transfers. Circular
Letters for Travelers, available in all
parts of the world.



ATTORNEYS AND AGENTS OF



Messrs. J. S. Morgan & Co.,

- - LONDON.

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NO. 22 OLD BROAD STREET,

E



3*0



Insurance
John Cpav§e 8 (o- m>y



<^?5f5n .



APPLY IN PERSON, BY MAIL, TELEGRAPH,
*R TELEPHONE, NOt. 1433 * 3280.



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A HISTORY



OF THE



Banking of
All Nations.

A FEW F*KESS OPINIONS.

" As a contribution toward the elucidation of tha
currency and banking question, the work before us
seems to be of inestimable value. * * • The
work has involved an enormous amount of labor and
large pecuniary expense, and it stands out admitted
as the most complete and comprehensive history of
banking that has ever appeared. "— The Nation,

" This monumental work is by far the most com-
plete publication of the kind ever issued. There has
been such a flood of publications, many of them filled
with glaring inaccuracies, that it is a pleasure to pick
up a work so replete with real merit." — Chicago
Tribute.

" The undertaking here assumed by the Jou*mal

OP COMMSECa AND COMMBKCIAL BULLBTTM is Unique,

if not unparalleled, in the reign of monetary science.
* • • We may add, therefore, our opinion that
this field wM not need to be explored again in a very
ong time, except for the purpose of working over
the wealth of material displayed."— N, Y. Evenmi
Post.

" It is one of the greatest literary undertakings of
the time, and the effect of Hs publication should be to
familiarize the general public with the subject of
money and the financial methods of the various en-
lightened nations. * » * It is a itocutfarty timely
publication."— Tie Louisville Courier -Journal.



LIBRARY EDITION, ROYAL OCTAVO.

Handsomely bound in half Morocco.
Price of the complete work, in four volumes,

$24.00 Pi* Set.

Contents and Indexes Mailed on Application.
PUBLISHED BY



THE JOURNAL OF COMMERCE & COMMERCIAL BULLETIN,

17 & 19 Beaver Street, New York.
C

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THE



Commercial Year Book,

1899.



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COPYRIGHT, l80Q,

BY

THE JOURNAL OF COMMERCE AND COMMERCIAL BULLETIN,

NEW YORK.



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THE



COMMERCIAL YEAR BOOK



A STATISTICAL ANNUAL

RELATING TO THE

COMMERCE, INDUSTRIES, AGRICULTURE, BANKING, CURRENCIES,

INVESTMENTS, RAILROADS, SHIPPING, INSURANCE,

ARMY AND NAVY, POPULATION, ETC.,

OF THE

UNITED STATES AND FOREIGN COUNTRIES.



I899.



Edited by WALTER A. DODSWORTH, Ph. B.,



AND PUBLISHED BY



THE JOURNAL OF COMMERCE AND COMMERCIAL BULLETIN.



VOLUME IV.



NEW YORK:

THE JOURNAL OF COMMERCE AND COMMERCIAL BULLSTtM,

17 AND 19 BEAVER STREET.

1899.



H

PRICE, IN CLOTH, $u



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LIBRARY OF THE
LELAiW STANFORD JR. UNIVERSITY.



(X.^?53.



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NOTICE.

The New York Journal of Commerce and Commercial Bulletin enjoys
the reputation of being the largest, most influential, and most complete
daily business journal in the United States.

Its Editorial Discussions are accepted as high and impartial authority
upon all questions connected with Commerce, Industry, Transportation, and
Banking. It ranks among the foremost in the advocacy of Sound Money
and Sound Methods of Finance ; and, whilst non-partisan in politics, is
unalterably opposed to all forms of commercial oppression and to all indus-
trial monopolies.

In its News Columns it gives all the day's intelligence bearing upon
business affairs, in condensed form suitable for the busy reader. As a
member of the Associated Press and assisted by a large staff of experienced
Correspondents and Reporters, it has unrivaled facilities for performing this
service.

In its Market Reports, accuracy, completeness, and promptness of infor-
mation are the first essentials.

It can be legitimately claimed that the Journal of Commerce and
Commercial Bulletin is the largest and most thorough daily paper of its
class in the World.



TERMS OF SUBSCRIPTION, $12.00 PER ANNUM.



Publication Offices: 17 and 19 Beaver Street,

New York, U. S. A*



WRITE FOR SAMPLE COPIES.



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FOREIGN COUNTRIES.



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PART 1.

FOREIGN COUNTRIES;



AREA, POPULATION, FISCAL AFFAIRS, AGRICULTURE, INDUSTRIES, COMMERCE, SHIP-
PING, RAILROADS, TELEGRAPHS, BANKING, AND MONEY.



EUROPE.
GftEAT BRITAIN.



Area and Population.

The area and the distribution of population of the United Kingdom were as follows at the
census taken April 1, 1891 :

England, 50,867 square miles; Wales, 7,442 square miles; Scotland, 39,783 square miles; Ireland,
88388 square miles ; Isle of Man, 287 square miles ; Channel Islands, 75 square miles. Total, 120,979
squam miles.

Population: England. 27,483,490; Wales, 1,519,035: Scotland, 4,025,647; Ireland, 4,704,750; Isle of
If an, 55,606 ; Cbannellslands, 92,234 : military and naval abroad, 224,211. Total, 88,104,975.

The estimated population at the end of June, 1896, was: England and Wales, 31,397,078; Soot-
land, 4,249,946 ; Ireland, 4,541,908. Total United Kingdom. 40,188,927.

The population per square mile in 1891 was 496 : in 1881 was 446 : in 1871 was 390 ; in 1861 was 345 ;
in 1851 was 308 ; in 1841 was 274 ; in 1831 was 189 ; in 1821 was 207 ; in 1811 was 175 ; in 1801 was 153.

Employments or Population in England and Walks in 1891 .

Per Cent.

Males. Females. Total. Total.

Professional class 597,789 828.393 926,132 4.2

Domestic class 140,773 1,795,555 1,900,328 8.6

Commercial class 1,364,877 85,358 1,899,735 6.1

Agricultural and fishing class 1,284,919 52,026 1,836,945 6.1

Industrial class 5,495,446 1,840,898 7,336,844 88.3

Unoccupied (Class 1,708,718 7,445,660 9,154,878 41.5

10,591,967 11,461,890 22,058,857 ~

Mulhall states the ratios of occupation in the entire United Kingdom for the years 1841 and 1891
as followB : Agriculture in 1841 was 37.8, and in 1891 was 15.1 ; manufactures, respectively, 84.8 and
58.7; trade, 7.6 and 9.9 ; professions, 2.5 and 7.4; domestics, 17.3 and 18.9.

Emigration and Immigration prom and to the United Kingdom.

To British To the To Total, Including

Year. North America. United States. Australia. All Other. Immigrants.

1806. 50,881 218,212 11,412 807,683 141,054

1894. 23,633 150,431 11,151 226,827 185,799

1896. 22,357 195,682 10,809 271,772 175,674

1896. 22,590 154,496 10,710 241,952 159,913

1897 22,702 182,096 12,491 213,450



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THE COMMERCIAL YEAR BOOK.



Revenue and Expenditure.



The following table shows the actual revenue and expenditure for the years ending March 31.
They are revised so as to exclude, in accordance with the system now adopted, the army and navy
extra receipts, and the contributions by India for military charges, formerly brought to account
as revenue :



Year. Revenue.

1884 £86,100,184

1886 87,988,110

1886 89,581,801

1887 90,772,758

1888 89,802,254

1889 88,472,812

1890 89,804,316

1891 89,489,112



d-

ft4
68
44
52
145
00
114
155



Year. Revenue.

1892 £90,994,786

1803 90,896,877

1894 91,183,410

1895 94,683,762

1896 101,978,889

1897 103,949,885

1898 108,614,004



Expend-
iture.
£89,987,779
90,876,865
91,302,846
96,918,421
97,764,367
101,476,669
102,985,994



Sources of Revenue, Years Ending March 31.



1895..
1896..
1897..
1898...



Currants, Spirits,

Raisins, F'gn &

Coffee. D'd Fruits. Colonial.

£170,026 £898,602 £4,197,260

167,673 895,186 4,216,921

172,383 401,244 4,318,192

170,049 389,673 4,299,961



Beer

1896 £10,102,060

1896 10,718,719

1897 10,901,094

1898 11,388,126



Spirits.
£16,269,296
16,603,680
16.103,412
16,896,726



(Net Receipts.)

COSTOM8.

Tobacco Other Mis-

and Imp't'd cellan's

Tea. Snuff. Wine. Articles. Reo'ts. Total.

£3,587,632 £10,415,139 £1,148,696 £197,400 £31,198 £20,188,948

3.746,194 10,748,522 1,254,994 208,297 29,626 20,762,413

3,799,872 11,108,048 1,298,181 224,272 36.489 21,268,131

3,868,207 11,433,909 1,826,372 267,494 37,685 21,792,250

Excise.

Chic- Coffee Mlx-

ory. ture Labels. IT ways.

£1,523 £2,101 £260,694

651 1,808 259,842

1,502 1,792 272,183

1,366 1,521 287,924



Other

Sciences. Receipts.

£286,086 £3,876

238,540 4,016

240,866 4,247

243,216 4,263



Total.
£26,875,626
26,826,755
27,435,006
28,323,142



Total Estate,
Legacy, Suc-
cession, etc.

1895 £8,764,843

1896 11,639,900

1897 10,741.379

1898 11,185,998



- Estates -



- Stamps -



Bills of Ex'ge. Life and Rec*ts, Drafts,

Deeds, Bankers' Notes, Marine and other Other Total

etc. etc. Insur'ces. Penny Stamps. Receipts. Stamp?.

£3,266,957 £747,890 £194,405 £1,202,747 £421,842 £5,883,34!

4,643,822 796,363 211,321 1.261,301 426,424 7,339,231

4,553,301 792,341 216,654 1,305.324 443,826 7,811,446

4,796,055 784,030 216,666 1,350,691 450,808 7,698.245

Taxes.



Inhabited Property and

1 Land Tax. House Duty. Income Tax. Total.

1896 £1.021,705 £1,462.373 £15,649,862 £18,138,440

1898 1,020801 1,486,948 15,982,940 18.490,689

1897 916,445 1.513,484 16,901,841 19,831,220

1898 022^60 1,666,758 17,171,377 19,660,995

Post- Telegraph Crown Suez Canal

Office. Service. Lands. Interest.

1895 £10,760,000 £2,580,000 £410,000 £394,995

1896 11,380,000 2,840,000 415,000 678,418

1897 ll,M6O,000 2,910,000 415,000 694,076

1898. 12.170,000 3,010,000 415,000 698,684



Miscellaneous.

Fee and
Patent
Stamps.

1895 £823,124

1898 831,071

1897 904,481

1898 948,890



Receipts by Civil

IXepartments,

etc.

£1,042.062

702,233

1,192,328

788,717



Total
Miscellaneous.
£1,865,786
1,638,301
2,096,809
1,737,107



Expenditures, Years Ending March 31.



National Debt Services— 1896.

Funded debt, interest £16,220,644

Terminable annuities and trustee saving- bank,

deficiency annuity 6,422,410

Unfunded debt 461,830

Management of debt 176,963

New sinking f u nd 1,718,268

Total £25,000,000



1896.
£16,110*274

118,867

176,447

2,15*774



1897.
£16,108,087

7,149,743
112,534
175,692

1,463,994



1898
£16,063,ftJ5

7,261,159
139.300
174,309

1.361,3117



£26,000,000 £25,000,000 £25,001 i.i Ml



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GREAT BRITAIN.



1805.

^ vil list and civil administration £90,407,431

Naval and Military-
Army, including Army Purchase Commission 17,899,800

Army ordnance factories 200

Navy, including transport, service 17.546,000

Indian Army pension deficiency 150,000

Total £85,595,000

Charges for the Collection of Revenue -

Customs 835,000

Inland revenue 1,811,000

Post-office 6,889,000

Telegraph service 3,674,000

Packet service 727,000

Total £12,916,000

Issues to meet other Expenditure—

Under Imperial Defense Act 50,000

Barracks Act 670,000

Telegraph Act 90,000

Naval works Act

*• r^anda Railway Act, 1896

• k Military Works Act



1896.
£21,251,857

18,459,800

200

19,724,000

150,000



1897.
£21,472,867

18,269,800

200

22,170,000

215,000



1896.
£22,980,994

19,829,900

100

20,850,000

215,000



£38,834,000 £40,655,000 £40,895,000



860,000
1,842,000
7,018,000
2,744,000

715,000



844,000
1,872,000
7,150,000
2,961,000

7,3,000



850,000
1,895,000
7,592,000
3,228,000

747,000



£13,179,000 £13,550,000 £14,310,000



58,000

600,000 820,000 800,000
572,664 188,000 160.000
X60,0U0 906,090 596,000
366,000 595.000
750,000



The National Debt.



The following statement shows the oscillations of the national debt of the kingdom from 1748:



At the end of the Spanish War. 1748

Decrease during eight years 1 peace

At the commencement of the 8even Years* War, 1756.

Increase during the war

At the Peace of Paris, 1763

Decrease during twelve years' peace

At the commencement of the American War. 1775

Increase during the war

At the end of the American War, 1784

Decrease during the peace ,

At the commencement of the French War. 1792

Increase during the war

At the Peace of Amiens, 1802

Increase during war with Napoleon

At the Peace of Paris. 1815

Decrease during forty Tears

At commencement of Crimean War, 1854

Increase during the war

Debt in 1857

Decrease since the Crimean War

Debt on March 81, 1895

Debt on March 81, 1896

Debt on March 81,1897

Debt on March 81, 1896



Principal.

£75.812,132

1,237,107

74,675,025

58,141,024
132,716,049
5,878,238
126,842,811
116,220,334
348,063,145
3,899,724
389,668,421
297,989,587
587,658,008
323,886,041
861,089,049

91,956,500
769,062,549

39,026,178
806,106,722
151,109,781
656,996,941
648,474,148
640.778,679
684,486.704



Annual

Charge.

£8,166>6

412,199

2,758.566

2,279,167

5,082,783

829,214

4,703,619



Online LibraryWilliam Usborne MooreThe Commercial year book → online text (page 1 of 125)