The Times of Friday publishes a paper showing the amazing
increase of the shipping of the United Kingdom during the last ten years. The total tonnage was 6,336,000 in 1877, and in 1886 was 7,321,000 tons, while the steam tonnage alone had actually risen from 2,000,000 tons to 3,969,000 tons. All these years were years of depression, and during them the total tonnage entering and clearing at the ports of the Kingdom rose from 494 millions of tons to 53 millions. Of the whole amount, 75 per cent. was British. British ships, again, constitute 44 per cent. of the total tonnage of the world, and 67 per cent. of the total steam tonnage. The country which approaches nearest to us in shipping is the United States, but its extent is not one-third. It would almost appear as if the depression had been good for us, every man being compelled, if he wished to earn a sovereign, to do 50 per cent. more work in order to earn it. The " turnover " is now so large that if freights should rise, the profits of the shipowners as a body will be unprece- dented.
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