Note 115 — XXI.
Reading edition
This estimate is founded on the following calculations:—
120,000 tons at $40 per ton, comes to $4,800,000, the annual expenses of which, such as crew, insurance, &c., and including interest for money invested, amounts to 30 per cent. for 20 days$80,000
Further saving of interest and insurance on goods valued at $16,000,000 at 20 per cent. for 20 days177,776
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Total saving effected by vessels using the Straits of Magelhaen$257,776