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1826. Our fish-trade was relatively more profitable especially on
account of the increasing quantity of winter herring.
After 1823, the timber trade also grew more profitable, prices
having risen, and higher freights having given new life to shipping.
A general European and American commercial crisis, however,
which occurred in 1825, once more caused a depression in
Norwegian commerce and shipping for some years, during which
several of our large, old-established timber firms, that had survived
the earlier crisis, were ruined.
At the beginning of the thirties, a more lasting period of
improvement set in, continuing upon the whole, allowing for
depressed timber trade in 1840—42, to 1847, while the years
from 1847—1849 showed a great depression due, among other
things, to the excessively high prices of grain prevailing in
1847, and the irregular conditions of the world’s commerce,
caused by the revolutionary movements in 1848. In 1850 better
times again commenced, and as a summary of the economic
development from 1815 to 1850, it may be said that not only were
the wounds from the war period (1807—1814) healed, but by
the middle of the century our commerce and shipping had
attained even a higher stage of development than during the first
years of the century, which had been so exceptionally favourable
to our economy.
The timber-export about 1840 regained the extent it had
enjoyed during the splendid commercial years at the beginning
of the century. About one third of our exported timber now
went to France, the agricultural population of which required
a good quantity of timber for the improvement of their
houses. About 22 % of the timber went to England, and as
regards quantity, somewhat more to Holland, but less in value,
because the exports to that country, as before, chiefly consisted
of rough timber. The fish-export in the middle of the century
was probably larger than it had ever been before. Since 1818,
the heavy duty levied on timber on its export from Norway,
has been considerably lowered several times, until in 1893 it was
entirely repealed. It was then our last remaining export duty.
The total value of the Norwegian export about 1838 has
been calculated at about kr. 19,040,000, of which kr. 6,740,000
are represented by timber, kr. 9,920,000 by fish products, and
the rest kr. 2,380,000 by silver, iron, copper, smalt and other
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