148 A. D. 1729. 



Jewels, plate, and other rich moveables, are much plentier than for- 

 merly. 



The value of our woollen goods exported in fix years, ending at 

 chriftmas 1727, exceeds the value of the fix preceding years, by 

 L475,ooo. And the like may be faid of the increafe of our exporta- 

 tions of coals, lead, tin, and lead-ore. 



There is the like increafe of foreign goods exported, which in the 

 three laft years exceeded in value the three preceding years by 

 ^535,000. 



Laftly, there will be found an increafe in the tonnage of the fliipping 

 of England in the lafl fix years, beyond what it was in the preceding 

 fix years of 238,000 tons. All which, when taken together, are un- 

 doubted marks of increafing wealth, and of the general balance of trade 

 in our favour. 



As for the only two objedions hereunto, the courfe of exchange be- 

 tween us and Holland running to our difadvantage, and our great 

 paper-credit ; the firft is to be accounted for by Amfterdam being the 

 center of exchanges to and from all parts of Europe, and particularly 

 between Britain and Holland, and thence between us and moft other 

 nations. Confeqaently the great fums of interefl in our public funds, 

 chiefly remitted by way of Amflerdam, and foreigners frequently fell- 

 ing out of our funds, as the intereft thereon becomes gradually lower. 

 The great importations of corn in years of fcarcity, from Dantzic, Ham- 

 burgh, and the Netherlands, which, in the fingle year 1728, amounted to 

 L8 00,000 paid for by the way of Holland. The balance we pay to 

 the northern countries for our mofl neceflary naval flores, &c. moftly 

 remitted by the way of Amfterdam. Theie and fuch reafons may well 

 account for the courfe of exchange running retrograde between us and 

 Holland ; which therefor cannot be a jiifi: or certain rule to determine 

 the balance of trade, or whether the wealth of Britain be increafing or 

 decreafing. Laflly, the increafe of paper-credit proves quite the con- 

 trary of what the objedors intend, fince it is not the caufe, but the 

 demonftrable effe6t and proof of national riches. 



1730. — The Englifh Eafl-India company's term for the redemption of 

 their capital, and of their exclufive trade, being near its expiration, (viz. 

 on three year's notice from lady-day 1733) a powerful and fi^renuous 

 oppofitionto its renewal was now railed by certain merchants and gen- 

 tlemen, who, forefeeing that the conipany would apply to the legiflature 

 for a prolongation of their exclufive privileges, determined to be before- 

 hand with them ; and therefor, in February 1730 [N. S.] they prefent- 

 ed to the houfe of commons their petition and propofals, wherein they 

 offered to advance L3, 200, 000 to redeem the fund of the company, by 



* five feveral payments, the lafl; to be at lady-day 1 733, to be allowed 



• an intereft of 4 per cent till that term, and only 2 per cent after it j 

 ' provided, 1. 



