L.565,800
We shall assume that one-fourth only of the cottons exported
to Portugal find their way fraudulently into Spain—­say 176,290
Say re-exports of cottons from Genoa to Gibraltar, assumed to
be for Spain, as per official return of that port for 1839, 31,400
Cotton goods direct to Spain from the United Kingdom, 11,150
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Total value of British cottons which could find their way into
Spain, direct and indirect, in 1840, L.784,640
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Instead of the amount exaggerated of Senor Marliani, L.1,663,268 Or the large excess in estimation, of 898,628

We have the official returns of the whole imports of cotton manufactures, with the exports, of the Sardinian States for 1840, now lying before us.

The imports were to the value of only L.443,360
Of which from the United Kingdom 242,680
Exported, or re-exported, 458,680

The whole of which to Tuscany, the Two Sicilies, the Roman States, Parma and Placentia, the Isle of Sardinia, and Austria.  It will be observed that there had been a great falling off in the trade with the Sardinian States in 1840, as compared with 1838 and 1839; and here, for greater convenience, we make free to extract the following remarks and returns from our esteemed contemporary of the Morning Herald, with some slight corrections of our own, when appropriately correcting certain misrepresentations of Mr Henderson, similar to those of Senor Marliani, respecting the assumed clandestine ingress of British cotton goods into Spain from the Italian states:—­

“Now the official customhouse returns of most of the Italian states are lying before us—­the returns of the Governments themselves—­but unfortunately none of them come down later than 1839, so that it is impossible, however desirable, to carry out fully the comparison for 1840.  Not that it is of any signification for more than uniformity, because, on referring to years antecedent to 1839, the relation between imports of cottons and re-exports, with the places from which imported and to which re-exports took place, is not sensibly disturbed.  The returns for the whole of Sardinia are not possessed later than 1838, but those for Genoa, its chief port, are for 1839, and nearly the whole imports into Sardinia, as well as exports, are effected at Genoa.  Thus of the total imports of cotton goods into Sardinia in 1838, to the value of about L.843,000, the amount into Genoa alone was L.823,000.  That year was one of excessive imports and 1839 one of equal depression, but this can only bear upon the facts of the case so far as proportionate quantities.

In 1839, total imports of cottons
  into Genoa—­value L.494,000
Of which from England 313,680
Total re-exports 475,000
Of which to Tuscany L.131,760
Naples and Sicily 110,800
Austria 61,080
Parma and Placentia 40,840
Sardinia Island 28,320
Switzerland 22,240
Roman States 14,880
GIBRALTAR 31,440