Our valuation of the direct imports
  from Spain being L.1,732,000
The Spanish valuation, 1,674,000

The public writers and statesmen of Spain have long held, and still maintain the opinion, that the illicit introduction into that country of British manufactures whose legal import is prohibited, or greatly restricted by heavy duties, is carried on upon a much more extensive scale than what is, or can be, the case.  In respect of cotton goods, the fact is particularly insisted upon.  It may be confidently asserted, for it is susceptible of proof, that much exaggeration is abroad on the subject.  We shall bring some evidence upon the point.  There can be no question that, so far as British agency is directly concerned, or British interest involved, in the contraband introduction of cottons, or other manufactures, or tobacco, it is almost exclusively represented by the trade with Gibraltar.  We are satisfied, moreover, that the Spanish consumption of cotton goods is overrated, as well as the amount of the clandestine traffic.  Senor Marliani an authority generally worthy of great respect, errs on this head with many others of his countrymen.  In a late work, entitled De la Influencia del Sistema prohibitiva en la Agricultura, Commercio, y rentas Publicas, he comes to the following calculation:—­

Imported direct to Spain, L.34,687
To Gibraltar, 608,581
To Portugal, L731,673, of
which three-fourths find
their way to Spain, 540,000
                         ---------
        Total, L.1,183,268

Again, Great Britain imports annually into Italy to the amount of L2,005,785 in cotton goods, L500,000 worth of which, it is not too much to assume, go into Spain through the ports of Leghorn and Genoa.  Adding together, then, these several items of cotton goods introduced from France and England into Spain by contraband, we arrive at the following startling result:—­

FRANCE.

Cotton goods imported into
  Spain, according to the
  Government returns, L.1,331,608

ENGLAND.

Cotton goods through Spanish ports, 34,637
Through Gibraltar, 608,581
Through Portugal, 540,000
Through Leghorn, Genoa, &c. &c. 500,000
                                    ----------
Total, L.3,014,826

An extravagant writer, of the name of Pebrer, carried the estimate up to L5,850,000.  Senor Inclan, more moderate, still valued the import and consumption at L2,720,000.  A “Cadiz merchant,” with another anonymous writer of practical authority, calculated the amount, with more sagacity, at L2,000,000 and L2,110,000 respectively.  Senor Marliani is, moreover, of opinion—­considering the weight of tobacco, from six to eight millions of pounds, assumed to be imported into Gibraltar for illicit entrance into Spain, on the authority of Mr Porter,