1831 to 1835, both inclusive, the average was L.442,916 1836 to 1840, 320,007

The average decline in the latter term, was therefore above 27-1/2 per cent.

Of the Foreign and Colonial merchandise re-exported within the same period it is difficult to say what proportion was for British account, and, as such, should therefore be classed under the head of trade with Spain.  It may be assumed, however, that the following were the products of British colonial possessions, whose exports to Spain are thus stated in quantities:—­

1831.       1835.       1840. 
Cinnamon,          284,201     123,590     144,291  lbs. 
Cloves,             15,831       9,470      23,504  ... 
India Cottons,      38,969       3,267      10,067  pieces
India Bandannas,    17,386      11,864      16,049  ... 
Indigo,             16,641       5,231       8,623  lbs. 
Pepper,            227,305      69,365     194,254  ...

To which may be added—­

Tobacco, 64,851 2,252,356 1,729,552 ...

The tobacco, being of United States’ growth, may, to a considerable extent, be bonded here for re-exportation on foreign account merely.  The foregoing, though the heaviest, are not the whole of the foreign and colonial products re-exported for Spain, but they constitute the great bulk of value.  Taking those of the last year, their value may be approximatively estimated in round numbers, as calculated upon what may be assumed a fair average of the rates of the prices current in the market, as they appear quoted in the London Mercantile Journal of the 4th of April.  It is only necessary to take the more weighty articles.

Cinnamon, 144,290 lbs. at 5s. 6d.  L.39,679
Indigo, 8,620 —­ at 6s. 2,586
Pepper, 194,250 —­ at 4d. 3,232
Tobacco, 1,729,550 —­ at 4d. 28,825
Indian Bandannas, 16,049 pieces at 25s. 20,061

It may, we conceive, be assumed from these citations of some few of the larger values exported to Spain under the head of “Foreign and Colonial Merchandise,” that the total amount of such values, inclusive of all the commodities non-enumerated here, would not exceed L.150,000, which, added to the L.404,252 already stated as the “declared values” of “British and Irish produce” also exported, would give a total export for 1840 of L.554,250.

We come now to the imports from Spain and the Balearic Isles, direct also into the United Kingdom, as stated in the Board of Trade tables in quantities; selecting the chief articles only, however:—­

1831.      1835.      1840. 
Barilla,                61,921     64,175     36,585 cwts. 
Lemons and Oranges,     28,266     30,548     30,171 packages. 
Madder,                  1,569      3,418      6,174 cwts. 
Olive Oil,           1,243,686      1,793  1,305,384 galls. 
Quicksilver,           269,558  1,438,869  2,157,823 lbs. 
Raisins,               105,066    104,334    166,505 cwts. 
Brandy,                 69,319     15,880    223,268 galls. 
Wines,               2,537,968  2,641,547  3,945,161 galls. 
Wool,                3,474,823  1,602,752  1,266,905 lbs.

Applying the same plan of calculation upon an average of the prices ruling in the London market, we arrive at the following approximate results:—­