96 PRESENT STATE 



felves, and, inftead of being a general cuftomer,, 

 become a rival, much fooner than we imagine. 



The fame may be faid of Ireland, whofe non- 

 importation agreements furnifh matter of ferious 

 concern* 



Upon the whole> the luxury of the times hath 

 confiderably increafed our imports, while the exer- 

 tions of France, the independence of Ireland, and 

 America, have fo greatly abridged our exports, as 

 to bring both nearly to a par. And though the 

 commercial balance is decreafed, or nearly annihi- 

 lated, the drain of fpecie, by the Eaft India com- 

 pany, * fmuggling, the intereft of public debts paid 

 to foreigners, and remittances to abfentees ; amounts 

 to near 3,000,000!. annually) which emiffions will 

 foon be attended with very alarming confequences, 

 unlefs fpeedily checked, or new fources of com- 

 merce are opened. 



Some of the negative remedies to thefe unfavour- 

 able circumftances are now the fubjec~t of parliamen- 

 tary difcufllon ; others, we would gladly hope, will 

 be brought forward in gradual fucceffion, while the 

 productive fources of a commercial balance demand 

 an equal degree of attention. We perceive from the 

 foregoing tables and eftimates, that, as theScottifh 

 fiiheries are the mofl valuable nurferies for feamen, 

 fo is its trade, and its expenditures in England, the 

 moft beneficial to our manufactures. With feme 

 nations we carry on a loiing trade ; from others we 

 receive an uncertain balance ; and even the tenure 

 by which we poffels our diftant fettlements,, and 

 the monopoly which we derive from them, are fo 

 extremely precarious, that it would be political 

 infanity to build our future profpects upon fuch 



* The fmuggling of tea will decreafe in confequence of lower- 

 ing the duties, but the conlumption will remain the lame, and 

 the whote, or the greateil part of it, muft ever be purchaitd with 

 fpecie. 



fpecu- 



