MR. MAC IVERasked the President of the Board of Trade, If it is true that the annual value of our imports of farm produce has increased from £54,805,629 in 1870 to £114,351,057 in 1880, with exports nil; if our annual imports of manufactures have increased fifty per cent. during the same period; and, whether it is also true that our exports of manufactures during the same period not merely show no corresponding increase, but have actually diminished?
§ MR. CHAMBERLAINSir, if the words "farm produce" are intended to exclude wool, then the figures in the first Question are substantially correct. Our annual imports of manufactures have increased, not 50 per cent, but 45 per cent, and these manufactures are largely of articles not manufactured in this country. The exports of manufactures during the same period have not diminished, but have increased 8 per cent in value, and this concurrently with a diminution in the price of them. I may add that any argument based on these facts would be essentially misleading if taken on the basis of one year.