ABSTRACT
The curves for “visible” exports and imports in Diagram I. are based on the figures given in the Statistical Abstract of the United Kingdom. English figures were taken instead of American, because they are more reliable. According to Mr. David A. Wells, the latter are especially unsatisfactory for periods prior to 1867. I have, however, compared the two sets of figures, and I find no serious disagreement. They, therefore, corroborate each other. Statistics of trade before 1854, whether English or American, have not much value. They may only be taken as true in indicating general movements, and as general trade movements may be equally well described in language, the figures for trade prior to 1854 have been omitted from the diagram.
