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 and silver. The total amount exported during this period of 89 years we estimate to have been at least £59$1⁄2$ millions sterling. Meylan, who has written an excellent account of the ancient trade of Japan, estimates the yearly average to have been about £660,000 sterling; whilst Kaempfer and other writers speak of some years in which the Portuguese exported as much as £2$1⁄2$ millions sterling annually.

The Dutch exported in the first years of their trade silver and copper. The foregoing table shews the copper export during the period 1609-1858. It will be seen that after the year 1713 a considerable decline in the copper trade took place. From 1640-1671 a considerable quantity of gold (oban and koban) was also exported by the Dutch. For 1671 the export of silver was prohibited by the Japanese Government.

The Chinese exported a nearly equal quantity of copper during this period. It is impossible for us to give an exact account of this trade. We must accept the statements of many former chiefs of Desima and those of Von Siebold, who tells us (1°) that in 1790 the export of copper by the Chinese amounted to 13,000 piculs, at which time the Dutch could only obtain 5,000 piculs as back-freight; and (2°) that the average amount per annum exported by the Chinese may be estimated at 15,000 piculs. According to this estimate the total amount of copper exported by the Chinese was not less than 3,735,000 piculs. We think, however, the estimate of Von Siebold to be too low. The Superintendent of the Government Copper Refinery at Osaka told Von Siebold that the yearly production of copper about the period 1830 amounted to 50 to 60 thousand piculs. We were also informed by Sumitomo, the proprietor of the largest copper works in