A. D. 1726. i^^ 



the Eaft-Indla merchandize re-exported pay for fuch European goods, 

 for which, without this trade, we muft have paid in cafli, it is in effect 

 the fame as if it brought in lb much cafli or bullion. As this trade 

 alfo furniflies us with what otherwife we muft neceflarily have bought of 

 the Dutch *, poflibly the nation's yearly profit by it may be near one 

 million fterling. 



Laftly, in contemplation of the vaft exportation of filver from all 

 Europe to Eaft-lndia, there buried fmce 1602, fo as never to return, 

 computed to amoimt to 150 millions fterling; had that vaft fum re- 

 mained to this day in Europe, whereby our proportion of cafli would 

 have been triple to what it now is, the confeciuence would have been, 

 that commodities and labour would probably have rifen in a triple 

 proportion ; and, in effecl, we ftiould not have been richer in fuch a cafe 

 than we are at prefenr. 



He has here forgotten the national benefit from a very great annual 

 fum paid for the cuftom of Eaft-lndia goods confumed at home, faid to 

 amount to above L300,ooo. And, that a confidcrable part of the mil- 

 lion of Eaft-lndia commodities, annually confumed or remaining at 

 home, is worked up in our great and very profitable* manufactures of 

 filk and cotton, and much of the drugs are alfo employed therein. 



This year the king granted the Eaft-lndia company a new charter of 

 confirmation, with ample powers for them to ere<5t a corporation at Fort 

 St. George, by the name of the mayor and aldermen of Madrafpatan in 

 the Eaft-Indies ; another corporation at the fadlory and town of Bom- 

 bay, by the name of the mayor and aldermen of Bombay ; and a third 

 corporation within the faclory of Fort William in Bengal, by the name 

 of the mayor and aldermen of Calcutta at Fort William in Bengal ; with 

 perpetual fucceflion to each of the faid three corporations, and a common 

 feal ; to make bye laws, and to try caufes both civil and criminal, high- 

 treafon excepted. 



Philips, fpeaking of the circulation of money, fuppofes, that France 

 is to England as eight is to three ; that their fpecie or money is perhaps 

 proportionable. Yet there is a greater fhew of money in England than in 

 France ; but if the circulation of France were equal to that of England, 

 France would appear of courfe fo much richer than England. 



Poflibly (fays he) the real yearly rents of England 

 may be - - - - - L20,ooo,ooo 



it being fuppofed that our lands are not taxed at half 

 their value. 



The cuftoms of England produce annually about - 1,600,000 



Which cuftoms, on an average of 30 per cent ati valorem, 

 make the value of our annual imports to be about - 5,300,000 



• Meaning (\vc prcfumc) faltpctre, pepper, and drugs, yf. 



