132 A. D. 1725. 



fourths of which they fell to other nations. And they alfo export to 

 other European nations, in cacao, cotton, ginger, rum, (he might have 

 added, coffee, &c.) about L250,ooo yearly ; to all which may be added 

 the freight thereon ; the great number of perfons, both in Europe and 

 A'V.erica, as well as in their fliips, conftantly maintained thereby ; the 

 great confumption of the producl: and manufactures of France, both in 

 the Wefl-Indies, and on the African coafts for the purchafe of their 

 Haves ; and then we need not wonder, that even fo long ago as the year 

 1 70 1, the new French council of commerce, in a memorial, could fay, 

 that the navigation of France owed all its increafe and fplcndour to the 

 commerce of its fugar illands, and that it could not be kept up and en- 

 larged otherwile than by that commerce. 



1726 Twelve more fliips being built by the South-fca company, 



they fent out 24 fliips on thc-ir fecond voyage on the whale tilhery to 

 Greenland and Davis's ftraits. But they now fucceeded confiderably 

 worfe than in their firfl voyage, having brought home but fixteen whales 

 and an lialf 



In Mr. Philips's State of the nation in refpedt to her commerce, debts 

 and money, he gives us a fummary view of the Englilh Eaft-India com- 

 pany's trade, and of its benefits to the public ; about which, however, 

 men are flill far from being generally agreed. 



He fays, the company's fales have for many years paft exceeded 

 L2,2oo,oco yearly ; confiding of wrought and raw fiik, calicoes, falt- 

 petre, drugs, tea, coffee, cotton, and cotton-yarn, Carmenia wool, &c. 



That Li, 000,000 thereof may probably be confumed at home *. 



That the company's exports annually to India are to the value of 

 L500,ooo in bullion and manufaftures f. 



To the million confumed at home he adds L4O0,ooo, to be deducted 

 for the drawback allowed at the cullom-houfe upon the Li, 200,000 re- 

 exported. And concludes. 



That the remaining L8oo,ooo is, or fliould be, the annual gain to the 

 nation by the Eafl-India trade. 



Now, to this balance of national gain ought certainly to have been 

 added the total of our manufactures exported to India. What he adds 

 is very true, that the company's trade maintains very many people at 

 home, as well as confiderable numbers of our people in India, who 

 brmg home much wealth to their native country. But what he fays 

 about our Eaft-lndia trade having brought down the price of other 

 European wares, which we ufed before we entered into it, feems of 

 little confideration in this ftate of the company. Moreover, fays he, if 



* It is to be feared that this computation is rather under tlie truth. /f. 



f It is ftrange to mix bidlion and maiiutadurcs together. The exportation of the later is univerfally 

 allowed to be profitable, while that of the former is generally fuppofed detrimental. Jl. 



I 



