A. D. I73I. 177 



nrefot^'orn out, that it requires the labour of three negroes to produce as 

 much fugar as could formerly be railed by the labour of one, they need 

 but remove to Jamaica, where they may have excellent frefh land enough ; 

 and as the value of fuch new land is a trifle, when compared to the va- 

 lue of the flock required for a fugar plantation, which is the main ar- 

 ticle for eftablifliing fuch a plantation, they have that entire to carry 

 along with them to Jamaica ; and the charge and trouble of their re- 

 moving thither would be amply compenfated by the abundant product 

 of thole new lands, and which confequently would enable them to un- 

 derfell the French and Dutch plantations, the only feeming means left 

 for recovering the trade of the re-exportation of our fugars : 6thly, 

 from the foreign fugar colonies our northern colonifts bring back con- 

 flderable quantities of gold and fllver, along with their fugar, rum, and 

 melafles, whereby they are enabled to make payments for the vaft quan- 

 tities of producl and manufactures, which they take of their mother 

 country, and which, without this trade fo much complained of, thev 

 could not poflibly do. Laflly, to prohibit the northern colonifts from 

 purchafmg of the foreign colonies their fugar, rum, and melafles, or 

 even to lay high duties on them, would utterly deflroy a commerce, with- 

 out which they cannot poflibly carry on their fiflieries, their trade for 

 peltry with the Indians, or their navigation. Neither could they difpofe 

 of the product of their lands and labour, a great part of the profits 

 whereof centers in Great Britain, in payment of the manufadures, &c. 

 they have from thence. Upon the whole, the fecret and real view of 

 the fugar iflands is to gain the abfolute monopoly of fugar and rum 

 (with refpedt to the fubjec'ls of Great Britain) to thcmfelves ; that fo 

 they may have it in their pov.-er to exad: what prices they iTiall pleafe 

 from the buyers. 



Notwithflandingall thcfe plaufible allegations on both fides, in a mat- 

 ter of great importance to our commercial interefts, there was nothing 

 legally decided till the year 1733. And indeed, where fuch material al- 

 terations are required to be made in a long-eftablilhed, or even conniv- 

 ed, courfe of any important branch of commerce, great and ferious de- 

 liberation, and mature obfervation and confideration, feem abfolutely 

 requifite in a nation, whole principal fupport depends fo much on com- 

 merce and plantations. 



1732 — Byaflatuteof ihe5thycarofKingGeorgeII,[r. 1 7] one million 

 of money was paid off the Souch-fea company's capital flock, out of the 

 finking fund, from midfiuTimer 1732 ; but the company having a large 

 bond debt, (occafioned by the miimanagemenls in the year 1720) their 

 general court, inftead of dividing the money to the proprietors, agreed 

 to pay off one million of bonds therewith, wherebv fo much of their 

 capital flock was annihilated, being 6^ per cent, which was accordingly 

 written off from each proprietor's accoiuit. 



Vol. lir. / 



