A. D, 1 7 19. 69 



3 per cent. Many were the arts made ufe of for keeping up the price 

 of the now unwieldy ftock ; fuch as, an arret to enable the company 

 to employ part of their capital for the improvement of manufactures, 

 tilheries, &c. ; alfo, for improving their tobacco farm ; for fuppl)ing the 

 king with all the hemp he fhould want for his navy ; and many other 

 devices too tedious to enumerate. The king, moreover, engaged, 

 not to ereft any other company in France but this. And the company, 

 on their part, engaged not to take in any more new fubfcriptions *, nor 

 to increale their capital ftock. The payments for the new fubfcriptions 

 were to be by ten inftallments, each at a month's diftance ; but the new 

 fubfcriptions foon made the old ones fall, for want of money to pay in 

 on thefe laft ; the firft payment of which laft new ones was currently 

 fold at 200 to 300 per cent profit ; and yet the old ones were equally 

 good as thofe of the laft fubfcription : but the quantity of the capital 

 ftock, being now 300 miUions, made the old fubfcriptions fall in price : 

 the company therefor, in order to keep them up, declared they would 

 pay 900 per cent for them, which immediately raifed them to i 200 per 

 cent ; and the laft fubfcriptions were about 1300 per cent. Now 300 

 millions of that ftock, at the price of i 200 per cent, amounts to 360,000 

 millions of livres, or about 18,000 millions fterling f . 



From the beginning of November 171 9 till about the middle of 

 December following the French India or MilFifippi ftock was in its 

 meridian glory : during which time, more efpecially, and for fome time 

 before and after, the city of Paris was crowded with ftrangers, and with 

 foreigners from different nations, who haftened thither tor dealing in- 



* This was ncccfTary in order to keep up tlie Poitiigal' ... 6 



price of tdc former ones. A. Italy, Sicily, and Venice - lo 



f Which lum is perhaps near I So times as much Turkey iu Europe ... ^ 



as all Europe contained of c\irrent catli, fuppofing it Ruflia - - . - 6 



to amount to lOO millions (lerling: for, as to what is Poland • - . . ^ 



iTiut up in banks, and particularly tiie bank of Am- Sweden, Denmark, and Norway • 3 



fterdam, (laid, by fonie, to amount to 36 millions) 



it is not properly the current coin of the country, 100 



though it anfwers in commerce as well as if it were. So that the utmoft, we think, we can rcafonably 



being but a mere depofit of credit. Yet it is con- fuppofe the current ca(h of Europe, amounts lo 



felfed to be very diflkult to arrive at a juft diftri. 100 millions lleiling ; and poflibly many may con- 



bution of the fuppofed ico millions of current jcfture, we have allowed moll nations, efpecially the 



cnlh amongft the feveral nations of Europe, more northern ones, too much, and lomc perhaps too little. 



elpecially as we have not met with any former at- Ourjudieious readers will not be ilarlled at our al- 



tempt for fuch a proportionul dillribution thereof, lowing Spain and Portugal fo Iniall a ciurcncy of 



by any author whatever. Yet although, with re- cafli, who fupply the tell of Europe with filvorand 



gard efpecially to lome countries ot Europe, wc gold ; nor for allowing France fo much, when the 



be quite upon mere conjecture, we (hall, however, annual expenfe of that kingdom is duelv conlider- 



though with diffidence, venture at it in round ed, as well as that of Britain and Ireland ; the 



funis, viz. other nations may be varii)ully realoncd upon with 



Britain and Ireland (mfllions fieri, money) 16 refpert to the quantum of their calh, from vari- 



France .... - 18 ous conllderaiions : as, from the quantity of their 



The 17 provinces of the Netherlands \l commerce and niatiufaCtures, from the numbei-s of 



Germany, Hungary, and Switzerland - y their people, from their fliipping, the number and . 



Spain - - . - 8 magnitudeof their trading cities, &c. Aj 



