In 1814, our tonnage was
diminished to 1,159,288 tons, a point actually below that of 1807; and
at the close of the second epoch of twenty-four years, in 1831, during
which our population had doubled, the tonnage remained at 1,267,846
tons, having virtually made no progress in the second epoch of
twenty-four years, commencing with the Embargo.
We now enter upon the third epoch of equal length, from 1831 to 1855,
which stands out in bold relief a striking contrast to the gloomy
period which it followed, and bears some resemblance to the epoch which
preceded the Embargo, showing the recuperative power of a commerce
destined to float after the most disastrous shipwreck.
Peace had continued down to 1831; the debt incurred during the war was
at length reduced; new breeds of sheep were imported, and manufactures,
aided by new inventions, were established on a permanent basis; our new
fabrics began to demand more raw material; the culture of cotton
was thus extended; railways were constructed; England, relaxing her
commercial code, opened her marts to our breadstuffs; the great
discovery of gold followed.
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