Sir John Strachey has remarked that India is a country of unbounded material resources, but hex people are poor. Its characteristics are great power of production, hut almost total absence of accumulated capital. On this account alone thE prosperity of the country essentially depends or its being able to secure a large and favourablE outlet for its superfluous produce. But her con nection with Britain and the financial results of that connection compel her to send to Europe every year about 20 millions' worth of her products. without receiving in return any direct commerciai equivalent. This excess of exports over imports is, he adds, the return for the foreign capital, which is invested in India, including under capital not only money, but all advantages, which have to bE paid for, such as intelligence strength, and energy on which good administra'tion and commereid prosperity depend. From these causes, he says the trade of India is in an abnOimal position preventing her receiving the full commercia benefit which would spring from her vast matena resources.' In the thirty-six years between 183t and 1871, the value of merchandise'exported from India amounted to £1,012,000,000 ; the value oi merchandise imported into India, to 1583,000,000.
showing an excess of £429,000,000 on the exports. The value of treasure imported in the same period was2312,000,000against 237,000,000re-exported, being a nett import of 2275,000,000. In 1880, India sold to foreign nations 266,000,000 worth of strictly Indian produce, which the Indian husbandman had raised, and for which be was paid. In the year 1881-82 the total trade of India, including exports and imports, exceeded £141,000,000.
The commercial transactions of British India with foreign countries a.re chiefly with the United Kingdom of Great Britain and Ireland, and with China. In the year 1881-82, the total value of the imported merchandise and treasure 3,vas 258,314,865, and that of the exports £82,999,346. Cotton piece-goods, twist and yarn, thread and other sorts, imported were of value Rs. 29,99,41,635. The values cif sugar, refined and unrefined, and of woollen goods, were each above a million sterling; metals, raw and manufactured, 3i millions; while of the exported articles the opium was valued at Rs. 12,43,21,418 ; rice, grain, pulse, wheat, seeds, £17,240,750 ; tea and coffee, 25,056,601 ; raw cotton, cotton goods, twist and yarn, 216,946,475. In that year twenty-five of the more important Imports, were— Exports, were— The opening of the Suez Canal in 1869 sti mulated every department of eastern trade into greater activity, but has not materially changed - its character. In 1871-72, the first complete year for which statistics are available, the total number of steamers which sailed via the canal was 422, with a tonnage of 464,198. In 1875-76, 85
per cent. of the irnports into India from Europo and Egypt (excluding treasure) passed through the canal, but only 29 per cent. of the exports. The actual values of canal trade in 1877-78 were 29 millions sterling for imports into India, and 23 millions for exports from India. Tho canal has reduced the length of tho voyage from•London to Calcutta by about 50 days. The route round the Cape was more than 11,000 miles, and occupies, by sailing ships nearly three .months r: that from Britain through' the canal is less than '8000 miles, and takes, by steamers, from 30 to 45 days. The numbers and tonnage of steatners adopting the c.anal route have rapidly increased :— Year. No. Tons. Year. 1 No. Tons.
- 1877-78 1137 1,917,839 1880-81 • 1459 2,133,872 1878-79 941 1,426,957 1881-821 1989 2,887,988 1879-80 1067 1,609,769 Bombay is tho sole outlet for The products of AVestern India, Gujerat, the Dalian, and the Central Provinces; Karachi (Kurachee) performs a similar office for the valley of the Indus, and Rangoon for that of tho Irawadi. Bombay is almost exclusively dependent upon :its cotton, seeds and wheat ; and a bad crop of any of these is a b'ad time for the export trade from that port generally.
Calcutta is an outlet for a vast tmct of country, capable of producing, besides wheat and seeds, which Bombaydoes export, though to a less extent, an infinite variety of staples, such as tea, oil-seeds, jute, raw and manufactured in the shape of gunny bags and cloth, also rice and hides. After the opening of the Suez Canal, the exports from Cal cutta rose in value from less than 20 millions sterlingin 1867-68 to nearly29 millions in 1878-79.
Rangoon is, however, the most thriving place, commercially, in the Indian Empire, considered relatively to its size. The import trade in 1880-81 was valued at more than £3,846,346, being an increase of 267 per cent. in 10 years ; while its export trade exhibited an increase of 233 per cent. in tho same period. Burma is without doubt the most prosperous province of the empire, and its people, free from the religious and caste prejudices with which the Hindus and Maho medans of India are imbued, and fond of personal comfort and adornment, spend their earnings freely on substantially-built and healthy habita tions, on silk attire, jewellery, cigars, European proVisions of kinds such as in India are consumed by the British-Indian population only, on crockery and glass-ware, and other things which conduce to the personal comfort of a man who will not, as in India, be content to live in a mud hovel.