by Various
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The development of steam shipping and electricity gave to the movements of trade a stimulus no less remarkable than that given by the introduction of railroads and industrial machinery to production and manufactures. Whereas at the beginning of the 19th century the journey to Australia occupied eight months, and business communications between Sydney and London could not receive answers within the year, at the beginning of the 20th century the journey could be accomplished in thirty-one days, and telegraphic despatches enabled the most important business to be transacted within twenty-four hours. For one cargo carried in the year at the beginning of the 19th century at least six could now be carried by the same ship, and from the point of view of trade the difference of a venture which realizes its profits in two months, as compared with one which occupied a whole year, does not need to be insisted on. The increased rapidity of the voyage and the power of daily communication by telegraph with the most distant markets have introduced a wholly new element into the national trade of the empire, and commercial intercourse between the southern and the northern hemispheres has received a development from the natural alternation of the seasons, of which until quite recent years the value was not even conceived. Fruit, eggs, butter, meat, poultry and other perishable commodities pass in daily increasing quantities between the northern and the southern hemispheres with an alternate flow which contributes to raise in no inconsiderable degree the volume of profitable trade. Thus the butter season of Australasia is from October to March, while the butter season of Ireland and northern Europe is from March to October. In three years after the introduction of ice-chambers into the steamers of the great shipping lines, Victoria and New South Wales built up a yearly butter trade of £1,000,000 with Great Britain without seriously affecting the Irish and Danish markets whence the summer supply is drawn. These facilities, combined with the enormous additions made to the public stock of land and labour, contributed to raise the volume of trade of the empire from a total of less than £100,000,000 in the year 1800 to a total of nearly £1,500,000,000 in 1900. The declared volume of British exports to all parts of the world in 1800 was £38,120,120, and the value of British imports from all parts of the world was £30,570,605; total, £68,690,725. As in those days the colonies were not allowed to trade with any other country this must be taken as representing imperial trade. The exact figures of the trade of India, the colonies, and the United Kingdom for 1900 were: imports, £809,178,209; exports, £657,899,363; total, £1,467,077,572.
A question of sovereign importance to the continued existence of the empire is the question of defence. A country of which Imperial defence. the main thoroughfares are the oceans of the world demands in the first instance a strong navy. It has of late years been accepted as a fundamental axiom of defence that the British navy should exceed in strength any reasonable combination of foreign navies which could be brought against it, the accepted formula being the "two-power standard," i.e. a 10% margin over the joint strength of the two next powers. The expense of maintaining such a floating armament must be colossal, and until within the decade 1890-1900 it was borne exclusively by the taxpayers of the United Kingdom. As the benefits of united empire
