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WORKS IN GENERAL LITERATURE.
I.
SIR J. HERSCHEL's OUTLINES of ASTRONOMY.
8vo. with Plates and Wood Engravings, 18s.
II.
SIR J. HERSCHEL's PRELIMINARY DISCOURSE
on the Study of NATURAL PHILOSOPHY. Fcp. 8vo. 6s.
III.
PESCHEL's ELEMENTS of PHYSICS. Translated,
with Notes, by E. WEST. 3 vols. fep. 8vo. Woodcuts, 21s.
IV.
BRANDE's DICTIONARY of SCIENCE, LITERA-
TURE, and ART. 8vo. with Wood Engravings, 60s.
v.
CRESY's ENCYCLOPAEDIA of CIVIL ENGINEER-
ING. With upwards of 3,000 Wood Engravings. 8vo. 73s. 6d.
VI.
GWILT's ENCYCLOPAEDIA of ARCHITECTURE.
With upwards of 1,000 Wood Engravings. 8vo. 52s. 6d.
VII.
MR. MCCULLOCH's DICTIONARY, GEOGRAPHI-
CAL, STATISTICAL, and HISTORICAL. 2 vols. 8vo. Maps, 80s.
VIII.
MR. MCCULLOCH's DICTIONARY of COMMERCE
and COMMERCIAL NAVIGATION. New Edition. 8vo. Maps
and Plans, 50s.; strongly half-bound, 55s.
IX.
MR. MCCULLOCH's DESCRIPTIVE and STATIS-
TICAL ACCOUNT of the BRITISH EMPIRE. New Edition.
2 vols. 8vo. 42s.
x.
MURRAY's ENCYCLOPEDIA of GEOGRAPHY.
With 82 Maps and 1,000 other Woodeuts. 8vo. 60s.
XI.
URE's DICTIONARY of ARTS, MANUFACTURES,
and MINES. With 1,241 Woodcuts. 8vo. 50s. - Supplement of
Recent Improvements, 14s.
XII.
WEBSTER and PARKER's ENCYCLOP.EDI: of
DOMESTIC ECONOMY. With 1,000 Wood Engravings. 8vo. 50s.
LONDON : LONGMAN, BROWN, GREEN, AND LONGMANS.
BIBLIOTHEEK
3
II 36.199
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A
DICTIONAR Y
or
COMMERCE
AND
COMMERCIAL NAVIGATION.
Digitized by Google
LONDON :
SPOTTISWOODES and SRAW,
New-street-Square.
Digitized by Google
10009 Kq pezuibia
Digitized by Google
quo G
A
DICTIONARY,
PRACTICAL, THEORETICAL, AND HISTORICAL,
or
COMMERCE
AND
COMMERCIAL NAVIGATION
ILLUSTRATED WITH MAPS AND PLANS.
BY
J. R. M°CULLOCH, EsQ.,
MEMBER OF THE INSTITUTE OF FRANCE.
A NEW. EDITION,
CORRECTED, ENLARGED, AKD IMPROVED ;
WITH A SUPPLEMENT.
Tutte le invenzioni le pid benemeritedel genere umano, e che hanno svillupato l' ingegno
la facoltà dell' animo nostro, sono quelle che accostano l' uomo all' uomo, e facilitano la
communicazione delle Idee, del bisogni, del sentimenti, e riducano il genere umano a massa.
VERRI.
LONDON:
LONGMAN, BROWN, GREEN, AND LONGMANS.
MDCCCXLIX.
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" Though immediately and primarily written for the merchants, this Commercial Dictionary
will be of use to every man of business or of curlosity. There is no man who is not in some
degree a merchant; who has not something to buy and something to sell, and who does not
therefore want such instructions as may teach him the true value of possessions or commodities.
The descriptions of the productions of the earth and water which this volume contains, may
be equally pleasing and useful to the speculatist with any other Natural History. The de-
scriptions of ports and cities may instruct the geographer as well as if they were found in books
appropriated only to his own sclence; and the doctrines of funds, insurances, currency, mo-
nopolies, exchanges, and duties, is so necessary to the politician, that without it he can be of no
use eitber in the council or the senate. nor can speak or think justly either on war or trade.
" We, therefore, hope that we shall not repent the labour of compiling this work, nor flatter
ourselves unreasonably, in predicting a favourable reception to a book which no condition of life
can render useless, which may contribute to the advantage of all that makeor receive laws, of all
that buy or sell, of all that wish to keep or improve their possessions, of all that desire to be rich,
and all that desire to be wise."
JOHNSON, Preface to Roll's Dict.
Keninthiphe
Biblictheck
to 's large
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ADVERTISEMENT TO THIS EDITION.
The changes that have taken place in the commerce and commercial policy of
this and other countries during the last two years have been carefully noted
in
this edition. The more important statistical returns have also been brought
down to the latest period. In the article Corn Laws and Corn Trade, and
in the articles on Dantzic, New York, Odessa, Taganrog, &c., are embodied a
number of details illustrative of the state of the corn trade in 1846 and 1847,
when the imports greatly surpassed those of former years. In the article Sugar,
the reader will find pretty ample information with respect to its produce and
consumption, the new regulations relating to its importation, the various changes
to which it is subject, &c.
Wherever it was practicable we have introduced the new matter and amend-
ments into the body of the work, which, we would fain hope, has been in various
respects improved. At the same time we are as much impressed now as
formerly with a consciousness of its many imperfections ; and beg again ear-
nestly to solicit our friends in this and other countries to point out such
mistakes as they may happen to notice; and to supply us with the means of
obviating them and of rendering the work still better entitled to the public
confidence.
London, let January, 1849.
A 3
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:
PREFACE TO THE EDITION OF 1847.
Tnx last complete edition of this work, though published so lately as February,
1844, has already become all but obsolete. This has been occasioned by the
extraordinary changes that have been made in the interval in our commercial
policy and regulations. Of these the act of last session providing for the immediate
modification and speedy abolition of the Corn Laws, is the most important. It
was the crowning measure in the memorable administration of Sir Robert Peel
and went far to complete the great series of commercial reforms begun in 1842.
The opening of the ports to the free importation of foreign cattle, sheep, and
hogs, which had previously been wholly prohibited ; the repeal of the Excise
duty on glass, and of the Customs duties on about 500 different articles, includ-
ing some of the greatest importance, and their reduction on many more the
vast improvement effected in our banking and monetary systems and the
measure respecting the Corn Laws, were all accomplished in the short space
of four or five years; and, in as far as can at present be seen, not only with
infinite advantage to the public, but without injury or even sensible incon-
venience to any class And it is obvious that such could not have been the
case had not the determination to carry these measures been subordinate to the
skill and ability with which they were prepared.
These, however, are not the only alterations that have taken place since
February, 1844. New acts have been passed in that interval relating to navi-
gation, the intercourse with the colonies, the importation and exportation of
foreign and native produce, the hiring of seamen, the registry of shipping,
&c., with the important act of last session in regard to the sugar duties.
And in addition to the many fundamental changes that have taken place at
home, a greatly improved Tariff has recently been enacted in the U. States
while minor changes have been effected in other parts of the commercial world.
The edition of this Dictionary now given to the public has been accommodated
to
this altered state of things. Wherever it was practicable we have introduced
the new matter under its proper head; the circumstance of the work being stereo-
typed having generally enabled us to do this without resetting the types of the
other portions. In most cases the space occupied by the articles that have been
superseded afforded room for those by which they have been replaced and
where it happened that the new articles could not be confined within the former
limita, the addition of extra pages, supplied the necessary accommodation. Hence,
notwithstanding the great amount of matter inserted for the first time in this
edition, the SUPPLEMENT added to it is of comparatively limited dimensions.
The separate Supplement prepared for the use of the purchasers of the editions
of 1844 and 1846 is considerably larger, inasmuch as it contains the more
important portions of the new information dispersed throughout the present
work.
The extreme difficulty of procuring recent and authentic information in rela-
tion to the commerce and commercial regulations of foreign and remote countries
will, we venture to hope, be admitted as some excuse for the errors which, despite
4
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viii
PREFACE.
c
every effort to be accurate, may, no doubt, be discovered in this book. We
shall reckon it a favour if those by whom they may be detected will have the
goodness to point them out and we shall be still more obliged if they will, at
the same time, supply us with matter available for their correction. We beg
farther to state that whatever information may be communicated to us by
gentlemen versed in any of the matters treated of in this work, will be most
gratefully received and that it will be employed to render it, what we are
most anxious it should be, a digest of late, readily accessible, and trustworthy
information on all matters relating to the commerce and commercial navigation
of this country and of the world.
London, May, 1847.3
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PREFACE
TO
THE EDITION OF 1844.
THE last edition of this work that underwent a complete revision was published
in 1834. Since that epoch several considerable impressions have been ex-
hausted; the more important changes in the commercial laws and regulations of
this and other countries, and in the channels of commercial intercourse, that took
place in the interval, having been specified in successive Supplements. These,
however, notwithstanding the limited plan on which they were compiled, had
become rather voluminous ; and the changes made in our commercial policy
by the Tariff Act of 1842, and the late acts for regulating the corn and colonial
trades, &c., were so very important, and affected so many articles and interests,
that it would have been difficult to notice them and the other subjects that
required to be brought under the reader's eye in a new Supplement, without
extending it to something like the size of the original work, which would thus
have been rendered clumsy, costly, and inconvenient. Under these circum-
stances, we had no choice, except to abandon the work altogether, or to under-
take the laborious task of its reconstruction. Having determined upon the
latter, we have endeavoured to make it a Digest and Repertory of the most
useful and authentic information respecting the past and present state of the
commerce of this and most other countries, including the means and devices
resorted to for facilitating commercial operations, and the laws and regula-
tions under which they have been carried on. The various details are brought
down to the latest period; and such additional subjects and statements have
been introduced as had been overlooked in the former editions, or have since
come into existence or grown of importance. We have tried to effect these
improvements without adding, very materially, to the size of the work, by sub-
jecting it to an unsparing retrenchment, and rejecting whatever was super-
seded by late changes, or appeared to be unnecessary.
It must, however, be admitted of works of this description, that they are
less susceptible than most others of being improved in successive editions. An
error in a bygone statement may, of course, be detected and rectified; but
few comparatively of those who refer to a Commercial Dictionary care for his-
torical notices or theoretical discussions. The practical details belonging to the
present moment are the prime objects of interest with most men of business ;
and the same difficulties recur in attempting to give an account of commerce
and commercial legislation in 1842 and 1843 that had to be encountered
in describing their state in 1832 and 1833. The subject is not stationary
but progressive, and variable in the extreme. The information, too, to
which we have been compelled to resort, has been often very deficient; and
when more abundant, it has not unfrequently been obscure, contradictory, and
but little to be depended upon. And even though it had been of a less ques-
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x
PREFACE.
tionable description, the all but endless variety of subjects we have had to
notice, and the perpetual and often unmarked changes to which most of them
are subject, prevent our flattering ourselves with the notion that we have been
much more successful on this than on former occasions in avoiding mistakes.
We have, however, resorted to every means within our reach by which
accuracy was likely to be attained and can honestly affirm that, in attempting
to render our work worthy of the public confidence, we have shrunk from no
labour nor grudged any reasonable expense.
Except in one or two instances, we have seen no reason to modify any gene-
ral principle laid down in the previous editions. The freedom of industry and
of trade appears to us, speaking generally, to be the only sound foundation on
which the commercial legislation of any country can safely or permanently
rest. But we are not of the number of those who think that this is a principle
to which there can be no exception, and that it is to be enforced at all times,
without regard to existing interests, or to the peculiar situation of the branches
of industry to which it may be proposed to be applied. There are, in truth, no
absolute principles; that is, there are no principles that can be safely and advan-
tageously carried out to their full extent, at all hazards and under all circum-
stances, either in Commercial Economy or any thing else. In conducting national
affairs, the interests, and even the unreasonable prejudices, of great classes
must be consulted ; and governments should frequently, or, perhaps, we might
say, generally, adopt that line of conduct which may seem to be on the whole
best fitted to conciliate and promote the varying interests of those for
whom they legislate, in preference to that which may be more in accordance
with principle. A policy of this sort, while it is consistent with the effectual
reform of every abuse, makes all changes be carefully considered, and cau-
tiously introduced ; and provides for the permanent advantage of the community
with as little immediate injury as possible to individuals.
It is not, therefore, as many appear to suppose, enough to prove that a rule
or regulation is wrong, that it interferes with the absolute freedom of industry
or of trade. Such interference may be justifiable or unjustifiable, according
to the peculiar exigencies of the case. The decisions of men of sense are
not to be guided, on topics of this sort, by clamour, or by a cuckoo-cry in
favour of any general principle, however well-established, but by a compre-
hensive investigation of what is under the circumstances the wisest and best
course of policy to be adopted. Who can doubt that the regulations with
respect to the truck system, the exclusion of females from mines, and the
employment of young people in factories, though interfering to a considerable
extent with the freedom of industry, are highly judicious, and necessary for the
protection of the largest and not least important portion of society ?
It may be doubted whether the commercial code of any country was ever so
much liberalised and improved in the same space of time as ours has been
between the important reforms begun by Mr. Huskisson in 1825, and those
effected by Sir Robert Peel in 1842. The more ardent reformers allege, indeed,
that these were not sufficiently extensive, that they were introduced slowly
and with greater diffidence than necessary, and that many abuses are still
unredressed. But those who reflect on the difficulty, in an extremely artificial
state of society, of correctly appreciating the remote influence of any consi-
derable change, and the impossibility of retracing any false step, will pro-
bably be disposed to applaud the prudence manifested in effecting these
reforms. The progress already made has, however, paved the way for farther
advances; and the reforms that still remain to be undertaken may now be
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PREFACE.
xi
attempted with comparatively little risk. The greater number of these are, we
believe, pointed out in this work and we have endeavoured to show how they
may be best introduced, and the advantages which may be fairly anticipated
from their being carried into effect.
Some of the most important subjects of which we have had to treat are, un-
fortunately, much mixed up with party politics, and the agitation of the day.
But our pages, we trust, are not polluted by any factious or partisan taint.
We have endeavoured to treat the subjects in question in the spirit of
lookers on who have no wish to participate in the game, and not in that of
the players, who may, perhaps, have staked their all on the result; and are not
conscious of having been biassed by political or personal predilections.
We firmly adhere to the opinion we have endeavoured to establish in the
former editions of this work and elsewhere, that it would be sound policy to
permit the importation of foreign corn at all times, under a moderate fixed duty
accompanied by a corresponding drawback. A duty of this sort would not
interpose any serious obstacle to our getting supplies of foreign corn when
necessary ; at the same time that it would tend to prevent any sudden shock
being given to agriculture by the opening of the ports to free importation, and
would countervail the peculiar burdens the agriculturists at present sustain,
or which, at all events, they would most certainly have to sustain, were the
ports open to importation without any duty. It appears to us that justice
to all parties - to the manufacturers and merchants on the one hand, and to
the agriculturiste on the other, requires that some such method of settling this
verata quastio should be attempted. It has been truly said, that what
a mercantile country like Great Britain most requires is the adoption of
"
a decided and unflinching course of commercial policy." This is necessary
to give those engaged in agricultural and commercial pursuits that feeling of
security which lies at the bottom of all steady, vigorous, and prolonged exertion
and to make all classes bring their industry and capital into full activity.
Unluckily, however, the most formidable obstacles appear to stand in the way
of our entering upon such a course and so long as one great class claim every
thing, and another great class will concede nothing, our policy can inspire but
little confidence. But we would fain hope that both parties, or at least that
the more reasonable and considerate portions of both, may become sensible of
the many pernicious consequences which cannot fail to result from prolonging
the agitation with respect to the corn laws and that these laws may be
finally settled so as to reconcile and secure the just rights and interests of all
classes. Unfounded anticipations of advantage on the one hand, and unfounded
anticipations of loss on the other, are the only real obstacles to some such ar-
rangement being effected ; and it will be much to be deplored should the great
interests of the empire be sacrificed to such delusions, and to the sinister designs
of those who represent them as real, and exaggerate their magnitude.
We have thought it necessary to say thus much; for, though our work, being
a Commercial Dictionary, might be supposed to be beyond the sphere of politics,
we have been reluctantly compelled, on various occasions, in consequence of the
way in which commercial and political questions are now mixed up, to engage
in what may be called political discussion. And when such has been the case,
we have not scrupled freely to state our opinions, and to censure such principles,
laws, or regulations, as we believe to be injurious. But we have not done this
wantonly, or without briefly stating the grounds on which we have presumed
to found our conclusions. We have, also, as on former occasions, taken care to
separate the theoretical and historical from the practical and legal parts of the
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xii
PREFACE.
work. Those by whom it is consulted merely for mercantile information need
not, therefore, trouble themselves about the other matters embodied in it. They
are not forced on their attention ; but they may easily be found, if, at any time,
they should think it worth while to refer to them.
In preparing this edition we have met, as on former occasions, with every
assistance from numerous official and private gentlemen. We are especially
indebted to the Earl of Aberdeen for allowing us the perusal of many valuable
consular Reports. To Mr. Porter, of the Board of Trade, so advantageously
known by his statistical works, we owe various unpublished documents be-
longing to his department. Mr. Wood, the able and efficient chairman of
the Board of Excise, Mr. Mayer, of the Colonial Office, and Mr. Walcott,
secretary to the Emigration Commissioners, have, also, discovered on every
occasion an anxious desire to add to the utility of our work, and have
enriched it with various important returns. We regret our inability to
notice the numerous private gentlemen who have, without regard to trouble or
expense, exerted themselves to supply us with information not otherwise
attainable. But, while we beg to return our best thanks to all, we cannot
forbear mentioning the names of James Cook, Esq., of Mincing Lane Archibald
Hastie, Esq., M. P.; Jacob Herbert, Esq., of the Trinity House Joshua
Milne, Esq., of the Sun Life Assurance Office: William Ellis, Esq., of the
Marine Indemnity Insurance Office ; Robert Slater, Esq., of Fore Street; John
Brown, Esq., of Liverpool ; C. B. Fripp, Esq., of Bristol David Maitland, Esq.,
of New York ; and William Murc, Esq., of New Orleans: to all of whom we are
under the greatest obligations. In fact, it is enly by the assistance of individuals
engaged in different lines of business, in different parts of the empire and of the
world, that a work of this sort can be rendered of any real value. No diligence
of inquiry can derive satisfactory information respecting the state of commerce
from books and official returns, even when these exist and are accessible, which
is frequently not the case : it can only be learned, if it is to be learned at all, from
the communications of intelligent individuals engaged in and familiar with its
details.
London, February, 1844.
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PREFACE
TO
THE SECOND EDITION.
The first impression of this Dictionary, consisting of 2,000 copies, was entirely
sold off in less than nine months from the date of its publication. We feel very
deeply indebted to the public for this unequivocal proof of its approbation; and we
have endeavoured to evince our gratitude, by labouring to render the work less
undeserving a continuance of the favour with which it has been honoured. In
the prosecution of this object, we have subjected every part of it to a careful
revision have endeavoured to eradicate the errors that had escaped our notice
to improve those parts that were incomplete or defective ; and to supply such
articles as had been omitted. We dare not flatter ourselves with the idea that
we have fully succeeded in these objects. The want of recent and accurate
details as to several important subjects, has been an obstacle we have not, in all
cases, been able to overcome; but those in any degree familiar with such inves-
tigations will not, perhaps, be disposed severely to censure our deficiencies in
this respect.
The changes in the law bearing upon commercial transactions have been
carefully specified. Copious abstracts of the late Customs Acts are contained in
the articles COLONIES AND COLONY TRADE, IMPORTATION AND EXPORTATION,
NAVIGATION Laws, REGISTRY, SMUGGLING, WAREHOUSING, &c.
The abolition of the East India Company's commercial monopoly, and the great
and growing interest* that has in consequence been excited amongst all classes
respecting the commercial capabilities and practices of India, China, and other
Fastern countries, have made us bestow peculiar attention to this department.
The articles BANGKOK, BATAVIA, BOMBAY, BUSHIRE, BUSSORAH, CALCUTTA,
CANTON, COLUMBO, EAST INDIA COMPANY AND EAST INDIES, INDIGO, MACAO,
MADEAS, MANILLA, MAULMAIN, MOCHA, MUSCAT, NANGASACKI, OPIUM, RANGOON,
SINGAPORE, TATTA, TEA, &c. contain, it is believed, a greater mass of recent and
well-authenticated details as to the commerce of the vast countries stretching
from the Arabic Gulph to the Chinese Sea, than is to be found in any other
English publication.
The article BANKING is mostly new. Besides embodying the late act prolong-
ing the charter of the Bank of England, and the more important details given in
the Report of the Select Committee on the Renewal of the Bank Charter, this
article contains some novel and important information not elsewhere to be met
with. No account of the issues of the Bank of England has hitherto been pub-
lished, that extends farther back than 1777. But this deficiency is now, for
the first time, supplied ; the Directors having obligingly furnished us with an
The recent events In China have added greatly to this interest, and have made us enter, in this
edition, into several additional details.
Digitized by Google
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"ocrText": "Google\nThis is a digital copy of a book that was preserved for generations on library shelves before it was carefully scanned by Google as part of a\nproject\nto make the world's books discoverable online.\nIt has survived long enough for the copyright to expire and the book to enter the public domain. A public domain book is one that was never subject\nto\ncopyright\nor\nwhose legal copyright term has expired. Whether a book is in the public domain may vary country to country. Public domain books\nare our gateways to the past, representing a wealth of history, culture and knowledge that's often difficult to discover.\nMarks, notations and other marginalia present in the original volume will appear in this file - a reminder of this book's long journey from the\npublisher to a library and finally to you.\nUsage guidelines\nGoogle is proud to partner with libraries to digitize public domain materials and make them widely accessible. Public domain books belong to the\npublic\nand\nwe\nare\nmerely their custodians. Nevertheless, this work is expensive, so in order to keep providing this resource, we have taken steps to\nprevent abuse by commercial parties, including placing technical restrictions on automated querying.\nWe also ask that you:\n+ Make non-commercial use of the files We designed Google Book Search for use by individuals, and we request that you use these files for\npersonal, non-commercial purposes.\n+\nRefrain\nfrom\nautomated querying Do not send automated queries of any sort to Google's system: If you are conducting research on machine\ntranslation, optical character recognition or other areas where access to a large amount of text is helpful, please contact us. We encourage the\nuse of public domain materials for these purposes and may be able to help.\n+ Maintain attribution The Google \"watermark\" you see on each file is essential for informing people about this project and helping them find\nadditional materials through Google Book Search. Please do not remove it.\n+\nKeep\nit\nlegal\nWhatever your use, remember that you are responsible for ensuring that what you are doing is legal. Do not assume that just\nbecause we believe a book is in the public domain for users in the United States, that the work is also in the public domain for users\nin\nother\ncountries. Whether a book is still in copyright varies from country to country, and we can't offer guidance on whether any specific use of\nany specific book is allowed. Please do not assume that a book's appearance in Google Book Search means it can be used in any manner\nanywhere in the world. Copyright infringement liability can be quite severe.\nAbout Google Book Search\nGoogle's mission is to organize the world's information and to make it universally accessible and useful. Google Book Search helps readers\ndiscover the world's books while helping authors and publishers reach new audiences. You can search through the full text of this book on the web\nat http://books.google.com/\nWORKS IN GENERAL LITERATURE.\nI.\nSIR J. HERSCHEL's OUTLINES of ASTRONOMY.\n8vo. with Plates and Wood Engravings, 18s.\nII.\nSIR J. HERSCHEL's PRELIMINARY DISCOURSE\non the Study of NATURAL PHILOSOPHY. Fcp. 8vo. 6s.\nIII.\nPESCHEL's ELEMENTS of PHYSICS. Translated,\nwith Notes, by E. WEST. 3 vols. fep. 8vo. Woodcuts, 21s.\nIV.\nBRANDE's DICTIONARY of SCIENCE, LITERA-\nTURE, and ART. 8vo. with Wood Engravings, 60s.\nv.\nCRESY's ENCYCLOPAEDIA of CIVIL ENGINEER-\nING. With upwards of 3,000 Wood Engravings. 8vo. 73s. 6d.\nVI.\nGWILT's ENCYCLOPAEDIA of ARCHITECTURE.\nWith upwards of 1,000 Wood Engravings. 8vo. 52s. 6d.\nVII.\nMR. MCCULLOCH's DICTIONARY, GEOGRAPHI-\nCAL, STATISTICAL, and HISTORICAL. 2 vols. 8vo. Maps, 80s.\nVIII.\nMR. MCCULLOCH's DICTIONARY of COMMERCE\nand COMMERCIAL NAVIGATION. New Edition. 8vo. Maps\nand Plans, 50s.; strongly half-bound, 55s.\nIX.\nMR. MCCULLOCH's DESCRIPTIVE and STATIS-\nTICAL ACCOUNT of the BRITISH EMPIRE. New Edition.\n2 vols. 8vo. 42s.\nx.\nMURRAY's ENCYCLOPEDIA of GEOGRAPHY.\nWith 82 Maps and 1,000 other Woodeuts. 8vo. 60s.\nXI.\nURE's DICTIONARY of ARTS, MANUFACTURES,\nand MINES. With 1,241 Woodcuts. 8vo. 50s. - Supplement of\nRecent Improvements, 14s.\nXII.\nWEBSTER and PARKER's ENCYCLOP.EDI: of\nDOMESTIC ECONOMY. With 1,000 Wood Engravings. 8vo. 50s.\nLONDON : LONGMAN, BROWN, GREEN, AND LONGMANS.\nBIBLIOTHEEK\n3\nII 36.199\nDigitized by Google\nA\nDICTIONAR Y\nor\nCOMMERCE\nAND\nCOMMERCIAL NAVIGATION.\nDigitized by Google\nLONDON :\nSPOTTISWOODES and SRAW,\nNew-street-Square.\nDigitized by Google\n10009 Kq pezuibia\nDigitized by Google\nquo G\nA\nDICTIONARY,\nPRACTICAL, THEORETICAL, AND HISTORICAL,\nor\nCOMMERCE\nAND\nCOMMERCIAL NAVIGATION\nILLUSTRATED WITH MAPS AND PLANS.\nBY\nJ. R. M°CULLOCH, EsQ.,\nMEMBER OF THE INSTITUTE OF FRANCE.\nA NEW. EDITION,\nCORRECTED, ENLARGED, AKD IMPROVED ;\nWITH A SUPPLEMENT.\nTutte le invenzioni le pid benemeritedel genere umano, e che hanno svillupato l' ingegno\nla facoltà dell' animo nostro, sono quelle che accostano l' uomo all' uomo, e facilitano la\ncommunicazione delle Idee, del bisogni, del sentimenti, e riducano il genere umano a massa.\nVERRI.\nLONDON:\nLONGMAN, BROWN, GREEN, AND LONGMANS.\nMDCCCXLIX.\nDigitized by Google\n\" Though immediately and primarily written for the merchants, this Commercial Dictionary\nwill be of use to every man of business or of curlosity. There is no man who is not in some\ndegree a merchant; who has not something to buy and something to sell, and who does not\ntherefore want such instructions as may teach him the true value of possessions or commodities.\nThe descriptions of the productions of the earth and water which this volume contains, may\nbe equally pleasing and useful to the speculatist with any other Natural History. The de-\nscriptions of ports and cities may instruct the geographer as well as if they were found in books\nappropriated only to his own sclence; and the doctrines of funds, insurances, currency, mo-\nnopolies, exchanges, and duties, is so necessary to the politician, that without it he can be of no\nuse eitber in the council or the senate. nor can speak or think justly either on war or trade.\n\" We, therefore, hope that we shall not repent the labour of compiling this work, nor flatter\nourselves unreasonably, in predicting a favourable reception to a book which no condition of life\ncan render useless, which may contribute to the advantage of all that makeor receive laws, of all\nthat buy or sell, of all that wish to keep or improve their possessions, of all that desire to be rich,\nand all that desire to be wise.\"\nJOHNSON, Preface to Roll's Dict.\nKeninthiphe\nBiblictheck\nto 's large\nDigitized by Google\nADVERTISEMENT TO THIS EDITION.\nThe changes that have taken place in the commerce and commercial policy of\nthis and other countries during the last two years have been carefully noted\nin\nthis edition. The more important statistical returns have also been brought\ndown to the latest period. In the article Corn Laws and Corn Trade, and\nin the articles on Dantzic, New York, Odessa, Taganrog, &c., are embodied a\nnumber of details illustrative of the state of the corn trade in 1846 and 1847,\nwhen the imports greatly surpassed those of former years. In the article Sugar,\nthe reader will find pretty ample information with respect to its produce and\nconsumption, the new regulations relating to its importation, the various changes\nto which it is subject, &c.\nWherever it was practicable we have introduced the new matter and amend-\nments into the body of the work, which, we would fain hope, has been in various\nrespects improved. At the same time we are as much impressed now as\nformerly with a consciousness of its many imperfections ; and beg again ear-\nnestly to solicit our friends in this and other countries to point out such\nmistakes as they may happen to notice; and to supply us with the means of\nobviating them and of rendering the work still better entitled to the public\nconfidence.\nLondon, let January, 1849.\nA 3\nDigitized by Google\n:\nPREFACE TO THE EDITION OF 1847.\nTnx last complete edition of this work, though published so lately as February,\n1844, has already become all but obsolete. This has been occasioned by the\nextraordinary changes that have been made in the interval in our commercial\npolicy and regulations. Of these the act of last session providing for the immediate\nmodification and speedy abolition of the Corn Laws, is the most important. It\nwas the crowning measure in the memorable administration of Sir Robert Peel\nand went far to complete the great series of commercial reforms begun in 1842.\nThe opening of the ports to the free importation of foreign cattle, sheep, and\nhogs, which had previously been wholly prohibited ; the repeal of the Excise\nduty on glass, and of the Customs duties on about 500 different articles, includ-\ning some of the greatest importance, and their reduction on many more the\nvast improvement effected in our banking and monetary systems and the\nmeasure respecting the Corn Laws, were all accomplished in the short space\nof four or five years; and, in as far as can at present be seen, not only with\ninfinite advantage to the public, but without injury or even sensible incon-\nvenience to any class And it is obvious that such could not have been the\ncase had not the determination to carry these measures been subordinate to the\nskill and ability with which they were prepared.\nThese, however, are not the only alterations that have taken place since\nFebruary, 1844. New acts have been passed in that interval relating to navi-\ngation, the intercourse with the colonies, the importation and exportation of\nforeign and native produce, the hiring of seamen, the registry of shipping,\n&c., with the important act of last session in regard to the sugar duties.\nAnd in addition to the many fundamental changes that have taken place at\nhome, a greatly improved Tariff has recently been enacted in the U. States\nwhile minor changes have been effected in other parts of the commercial world.\nThe edition of this Dictionary now given to the public has been accommodated\nto\nthis altered state of things. Wherever it was practicable we have introduced\nthe new matter under its proper head; the circumstance of the work being stereo-\ntyped having generally enabled us to do this without resetting the types of the\nother portions. In most cases the space occupied by the articles that have been\nsuperseded afforded room for those by which they have been replaced and\nwhere it happened that the new articles could not be confined within the former\nlimita, the addition of extra pages, supplied the necessary accommodation. Hence,\nnotwithstanding the great amount of matter inserted for the first time in this\nedition, the SUPPLEMENT added to it is of comparatively limited dimensions.\nThe separate Supplement prepared for the use of the purchasers of the editions\nof 1844 and 1846 is considerably larger, inasmuch as it contains the more\nimportant portions of the new information dispersed throughout the present\nwork.\nThe extreme difficulty of procuring recent and authentic information in rela-\ntion to the commerce and commercial regulations of foreign and remote countries\nwill, we venture to hope, be admitted as some excuse for the errors which, despite\n4\nDigitized by Google\nviii\nPREFACE.\nc\nevery effort to be accurate, may, no doubt, be discovered in this book. We\nshall reckon it a favour if those by whom they may be detected will have the\ngoodness to point them out and we shall be still more obliged if they will, at\nthe same time, supply us with matter available for their correction. We beg\nfarther to state that whatever information may be communicated to us by\ngentlemen versed in any of the matters treated of in this work, will be most\ngratefully received and that it will be employed to render it, what we are\nmost anxious it should be, a digest of late, readily accessible, and trustworthy\ninformation on all matters relating to the commerce and commercial navigation\nof this country and of the world.\nLondon, May, 1847.3\nDigitized by Google\nPREFACE\nTO\nTHE EDITION OF 1844.\nTHE last edition of this work that underwent a complete revision was published\nin 1834. Since that epoch several considerable impressions have been ex-\nhausted; the more important changes in the commercial laws and regulations of\nthis and other countries, and in the channels of commercial intercourse, that took\nplace in the interval, having been specified in successive Supplements. These,\nhowever, notwithstanding the limited plan on which they were compiled, had\nbecome rather voluminous ; and the changes made in our commercial policy\nby the Tariff Act of 1842, and the late acts for regulating the corn and colonial\ntrades, &c., were so very important, and affected so many articles and interests,\nthat it would have been difficult to notice them and the other subjects that\nrequired to be brought under the reader's eye in a new Supplement, without\nextending it to something like the size of the original work, which would thus\nhave been rendered clumsy, costly, and inconvenient. Under these circum-\nstances, we had no choice, except to abandon the work altogether, or to under-\ntake the laborious task of its reconstruction. Having determined upon the\nlatter, we have endeavoured to make it a Digest and Repertory of the most\nuseful and authentic information respecting the past and present state of the\ncommerce of this and most other countries, including the means and devices\nresorted to for facilitating commercial operations, and the laws and regula-\ntions under which they have been carried on. The various details are brought\ndown to the latest period; and such additional subjects and statements have\nbeen introduced as had been overlooked in the former editions, or have since\ncome into existence or grown of importance. We have tried to effect these\nimprovements without adding, very materially, to the size of the work, by sub-\njecting it to an unsparing retrenchment, and rejecting whatever was super-\nseded by late changes, or appeared to be unnecessary.\nIt must, however, be admitted of works of this description, that they are\nless susceptible than most others of being improved in successive editions. An\nerror in a bygone statement may, of course, be detected and rectified; but\nfew comparatively of those who refer to a Commercial Dictionary care for his-\ntorical notices or theoretical discussions. The practical details belonging to the\npresent moment are the prime objects of interest with most men of business ;\nand the same difficulties recur in attempting to give an account of commerce\nand commercial legislation in 1842 and 1843 that had to be encountered\nin describing their state in 1832 and 1833. The subject is not stationary\nbut progressive, and variable in the extreme. The information, too, to\nwhich we have been compelled to resort, has been often very deficient; and\nwhen more abundant, it has not unfrequently been obscure, contradictory, and\nbut little to be depended upon. And even though it had been of a less ques-\nDigitized by Google\nx\nPREFACE.\ntionable description, the all but endless variety of subjects we have had to\nnotice, and the perpetual and often unmarked changes to which most of them\nare subject, prevent our flattering ourselves with the notion that we have been\nmuch more successful on this than on former occasions in avoiding mistakes.\nWe have, however, resorted to every means within our reach by which\naccuracy was likely to be attained and can honestly affirm that, in attempting\nto render our work worthy of the public confidence, we have shrunk from no\nlabour nor grudged any reasonable expense.\nExcept in one or two instances, we have seen no reason to modify any gene-\nral principle laid down in the previous editions. The freedom of industry and\nof trade appears to us, speaking generally, to be the only sound foundation on\nwhich the commercial legislation of any country can safely or permanently\nrest. But we are not of the number of those who think that this is a principle\nto which there can be no exception, and that it is to be enforced at all times,\nwithout regard to existing interests, or to the peculiar situation of the branches\nof industry to which it may be proposed to be applied. There are, in truth, no\nabsolute principles; that is, there are no principles that can be safely and advan-\ntageously carried out to their full extent, at all hazards and under all circum-\nstances, either in Commercial Economy or any thing else. In conducting national\naffairs, the interests, and even the unreasonable prejudices, of great classes\nmust be consulted ; and governments should frequently, or, perhaps, we might\nsay, generally, adopt that line of conduct which may seem to be on the whole\nbest fitted to conciliate and promote the varying interests of those for\nwhom they legislate, in preference to that which may be more in accordance\nwith principle. A policy of this sort, while it is consistent with the effectual\nreform of every abuse, makes all changes be carefully considered, and cau-\ntiously introduced ; and provides for the permanent advantage of the community\nwith as little immediate injury as possible to individuals.\nIt is not, therefore, as many appear to suppose, enough to prove that a rule\nor regulation is wrong, that it interferes with the absolute freedom of industry\nor of trade. Such interference may be justifiable or unjustifiable, according\nto the peculiar exigencies of the case. The decisions of men of sense are\nnot to be guided, on topics of this sort, by clamour, or by a cuckoo-cry in\nfavour of any general principle, however well-established, but by a compre-\nhensive investigation of what is under the circumstances the wisest and best\ncourse of policy to be adopted. Who can doubt that the regulations with\nrespect to the truck system, the exclusion of females from mines, and the\nemployment of young people in factories, though interfering to a considerable\nextent with the freedom of industry, are highly judicious, and necessary for the\nprotection of the largest and not least important portion of society ?\nIt may be doubted whether the commercial code of any country was ever so\nmuch liberalised and improved in the same space of time as ours has been\nbetween the important reforms begun by Mr. Huskisson in 1825, and those\neffected by Sir Robert Peel in 1842. The more ardent reformers allege, indeed,\nthat these were not sufficiently extensive, that they were introduced slowly\nand with greater diffidence than necessary, and that many abuses are still\nunredressed. But those who reflect on the difficulty, in an extremely artificial\nstate of society, of correctly appreciating the remote influence of any consi-\nderable change, and the impossibility of retracing any false step, will pro-\nbably be disposed to applaud the prudence manifested in effecting these\nreforms. The progress already made has, however, paved the way for farther\nadvances; and the reforms that still remain to be undertaken may now be\nDigitized by Google\nPREFACE.\nxi\nattempted with comparatively little risk. The greater number of these are, we\nbelieve, pointed out in this work and we have endeavoured to show how they\nmay be best introduced, and the advantages which may be fairly anticipated\nfrom their being carried into effect.\nSome of the most important subjects of which we have had to treat are, un-\nfortunately, much mixed up with party politics, and the agitation of the day.\nBut our pages, we trust, are not polluted by any factious or partisan taint.\nWe have endeavoured to treat the subjects in question in the spirit of\nlookers on who have no wish to participate in the game, and not in that of\nthe players, who may, perhaps, have staked their all on the result; and are not\nconscious of having been biassed by political or personal predilections.\nWe firmly adhere to the opinion we have endeavoured to establish in the\nformer editions of this work and elsewhere, that it would be sound policy to\npermit the importation of foreign corn at all times, under a moderate fixed duty\naccompanied by a corresponding drawback. A duty of this sort would not\ninterpose any serious obstacle to our getting supplies of foreign corn when\nnecessary ; at the same time that it would tend to prevent any sudden shock\nbeing given to agriculture by the opening of the ports to free importation, and\nwould countervail the peculiar burdens the agriculturists at present sustain,\nor which, at all events, they would most certainly have to sustain, were the\nports open to importation without any duty. It appears to us that justice\nto all parties - to the manufacturers and merchants on the one hand, and to\nthe agriculturiste on the other, requires that some such method of settling this\nverata quastio should be attempted. It has been truly said, that what\na mercantile country like Great Britain most requires is the adoption of\n\"\na decided and unflinching course of commercial policy.\" This is necessary\nto give those engaged in agricultural and commercial pursuits that feeling of\nsecurity which lies at the bottom of all steady, vigorous, and prolonged exertion\nand to make all classes bring their industry and capital into full activity.\nUnluckily, however, the most formidable obstacles appear to stand in the way\nof our entering upon such a course and so long as one great class claim every\nthing, and another great class will concede nothing, our policy can inspire but\nlittle confidence. But we would fain hope that both parties, or at least that\nthe more reasonable and considerate portions of both, may become sensible of\nthe many pernicious consequences which cannot fail to result from prolonging\nthe agitation with respect to the corn laws and that these laws may be\nfinally settled so as to reconcile and secure the just rights and interests of all\nclasses. Unfounded anticipations of advantage on the one hand, and unfounded\nanticipations of loss on the other, are the only real obstacles to some such ar-\nrangement being effected ; and it will be much to be deplored should the great\ninterests of the empire be sacrificed to such delusions, and to the sinister designs\nof those who represent them as real, and exaggerate their magnitude.\nWe have thought it necessary to say thus much; for, though our work, being\na Commercial Dictionary, might be supposed to be beyond the sphere of politics,\nwe have been reluctantly compelled, on various occasions, in consequence of the\nway in which commercial and political questions are now mixed up, to engage\nin what may be called political discussion. And when such has been the case,\nwe have not scrupled freely to state our opinions, and to censure such principles,\nlaws, or regulations, as we believe to be injurious. But we have not done this\nwantonly, or without briefly stating the grounds on which we have presumed\nto found our conclusions. We have, also, as on former occasions, taken care to\nseparate the theoretical and historical from the practical and legal parts of the\nDigitized by Google\nxii\nPREFACE.\nwork. Those by whom it is consulted merely for mercantile information need\nnot, therefore, trouble themselves about the other matters embodied in it. They\nare not forced on their attention ; but they may easily be found, if, at any time,\nthey should think it worth while to refer to them.\nIn preparing this edition we have met, as on former occasions, with every\nassistance from numerous official and private gentlemen. We are especially\nindebted to the Earl of Aberdeen for allowing us the perusal of many valuable\nconsular Reports. To Mr. Porter, of the Board of Trade, so advantageously\nknown by his statistical works, we owe various unpublished documents be-\nlonging to his department. Mr. Wood, the able and efficient chairman of\nthe Board of Excise, Mr. Mayer, of the Colonial Office, and Mr. Walcott,\nsecretary to the Emigration Commissioners, have, also, discovered on every\noccasion an anxious desire to add to the utility of our work, and have\nenriched it with various important returns. We regret our inability to\nnotice the numerous private gentlemen who have, without regard to trouble or\nexpense, exerted themselves to supply us with information not otherwise\nattainable. But, while we beg to return our best thanks to all, we cannot\nforbear mentioning the names of James Cook, Esq., of Mincing Lane Archibald\nHastie, Esq., M. P.; Jacob Herbert, Esq., of the Trinity House Joshua\nMilne, Esq., of the Sun Life Assurance Office: William Ellis, Esq., of the\nMarine Indemnity Insurance Office ; Robert Slater, Esq., of Fore Street; John\nBrown, Esq., of Liverpool ; C. B. Fripp, Esq., of Bristol David Maitland, Esq.,\nof New York ; and William Murc, Esq., of New Orleans: to all of whom we are\nunder the greatest obligations. In fact, it is enly by the assistance of individuals\nengaged in different lines of business, in different parts of the empire and of the\nworld, that a work of this sort can be rendered of any real value. No diligence\nof inquiry can derive satisfactory information respecting the state of commerce\nfrom books and official returns, even when these exist and are accessible, which\nis frequently not the case : it can only be learned, if it is to be learned at all, from\nthe communications of intelligent individuals engaged in and familiar with its\ndetails.\nLondon, February, 1844.\nDigitized by Google\nPREFACE\nTO\nTHE SECOND EDITION.\nThe first impression of this Dictionary, consisting of 2,000 copies, was entirely\nsold off in less than nine months from the date of its publication. We feel very\ndeeply indebted to the public for this unequivocal proof of its approbation; and we\nhave endeavoured to evince our gratitude, by labouring to render the work less\nundeserving a continuance of the favour with which it has been honoured. In\nthe prosecution of this object, we have subjected every part of it to a careful\nrevision have endeavoured to eradicate the errors that had escaped our notice\nto improve those parts that were incomplete or defective ; and to supply such\narticles as had been omitted. We dare not flatter ourselves with the idea that\nwe have fully succeeded in these objects. The want of recent and accurate\ndetails as to several important subjects, has been an obstacle we have not, in all\ncases, been able to overcome; but those in any degree familiar with such inves-\ntigations will not, perhaps, be disposed severely to censure our deficiencies in\nthis respect.\nThe changes in the law bearing upon commercial transactions have been\ncarefully specified. Copious abstracts of the late Customs Acts are contained in\nthe articles COLONIES AND COLONY TRADE, IMPORTATION AND EXPORTATION,\nNAVIGATION Laws, REGISTRY, SMUGGLING, WAREHOUSING, &c.\nThe abolition of the East India Company's commercial monopoly, and the great\nand growing interest* that has in consequence been excited amongst all classes\nrespecting the commercial capabilities and practices of India, China, and other\nFastern countries, have made us bestow peculiar attention to this department.\nThe articles BANGKOK, BATAVIA, BOMBAY, BUSHIRE, BUSSORAH, CALCUTTA,\nCANTON, COLUMBO, EAST INDIA COMPANY AND EAST INDIES, INDIGO, MACAO,\nMADEAS, MANILLA, MAULMAIN, MOCHA, MUSCAT, NANGASACKI, OPIUM, RANGOON,\nSINGAPORE, TATTA, TEA, &c. contain, it is believed, a greater mass of recent and\nwell-authenticated details as to the commerce of the vast countries stretching\nfrom the Arabic Gulph to the Chinese Sea, than is to be found in any other\nEnglish publication.\nThe article BANKING is mostly new. Besides embodying the late act prolong-\ning the charter of the Bank of England, and the more important details given in\nthe Report of the Select Committee on the Renewal of the Bank Charter, this\narticle contains some novel and important information not elsewhere to be met\nwith. No account of the issues of the Bank of England has hitherto been pub-\nlished, that extends farther back than 1777. But this deficiency is now, for\nthe first time, supplied ; the Directors having obligingly furnished us with an\nThe recent events In China have added greatly to this interest, and have made us enter, in this\nedition, into several additional details.\nDigitized by Google"
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