From the first to the last year of the decennial term, the regular trade, therefore, had declined to the extent of above L.193,000, or at the rate of about 33 per cent. But as for three of the intermediate years 1837, 1838, and 1839, the exports are returned at L.286,636, L.243,839, and L.262,231, exclusive of fluctuations downwards in previous years, it will be more satisfactory to take the averages for five years each, of the term. Thus from—

1831 to 1835, both inclusive, the average was L.442,916
1836 to 1840,...320,007

The average decline in the latter term, was therefore above 27½ per cent.

Of the Foreign and Colonial merchandise re-exported within the same period it is difficult to say what proportion was for British account, and, as such, should therefore be classed under the head of trade with Spain. It may be assumed, however, that the following were the products of British colonial possessions, whose exports to Spain are thus stated in quantities:—

1831. 1835. 1840.
Cinnamon, 284,201 123,590 144,291 lbs.
Cloves, 15,831 9,470 23,504 ...
India Cottons, 38,969 3,267 10,067 pieces
India Bandannas, 17,386 11,864 16,049 ...
Indigo, 16,641 5,231 8,623 lbs.
Pepper, 227,305 69,365 194,254 ...
To which may be added—
Tobacco, 64,851 2,252,356 1,729,552 ...

The tobacco, being of United States' growth, may, to a considerable extent, be bonded here for re-exportation on foreign account merely. The foregoing, though the heaviest, are not the whole of the foreign and colonial products re-exported for Spain, but they constitute the great bulk of value. Taking those of the last year, their value may be approximatively estimated in round numbers, as calculated upon what may be assumed a fair average of the rates of the prices current in the market, as they appear quoted in the London Mercantile Journal of the 4th of April. It is only necessary to take the more weighty articles.

Cinnamon,144,290lbs.at5s.6d.L.39,679
Indigo,8,620—at6s. 2,586
Pepper,194,250—at 4d.3,232
Tobacco,1,729,550—at 4d.28,825
Indian Bandannas,16,049piecesat 25s. 20,061

It may, we conceive, be assumed from these citations of some few of the larger values exported to Spain under the head of "Foreign and Colonial Merchandise," that the total amount of such values, inclusive of all the commodities non-enumerated here, would not exceed L.150,000, which, added to the L.404,252 already stated as the "declared values" of "British and Irish produce" also exported, would give a total export for 1840 of L.554,250.

We come now to the imports from Spain and the Balearic Isles, direct also into the United Kingdom, as stated in the Board of Trade tables in quantities; selecting the chief articles only, however:—

1831. 1835. 1840.
Barilla,61,92164,17536,585cwts.
Lemons and Oranges,28,26630,54830,171packages.
Madder,1,5693,4186,174cwts.
Olive Oil,1,243,6861,7931,305,384galls.
Quicksilver,269,5581,438,8692,157,823lbs.
Raisins,105,066104,334166,505cwts.
Brandy,69,31915,880223,268galls.
Wines,2,537,9682,641,5473,945,161galls.
Wool, 3,474,823 1,602,752 1,266,905lbs.