A. D. 1741. 229 



by the act of navigation of the 12th of King Charles IT, which enjoins, 

 that no merchandize fhall be imported into England or Ireland but 

 from the place of their growth, production, or manufadure, or from 

 thofe parts where they could only be had, or were ufually or adlually 

 vont to be firft fhipped for tranfportation, was fo far difpenfed with. 

 And as raw filk and other Perfian commodities had not been ufually 

 brought to England through Ruflia, it was hereby enaded, that they 

 might neverthelefs be fo imported through Ruflia in Britifh fliips, legal- 

 ly navigated, fuch raw filk, &c. being purchafed by barter with Britifli 

 manufactures or product exported to Ruflia, upon paying the like cuf- 

 toms as the Levant company now pays for the fame brought from the 

 Levant. [14 Geo. II, c. ■^(i.'\ This new fcheme was for fome time fuc- 

 cefsfully pradifed ; and confiderable quantities of raw filk and other 

 Perfian merchandize were imported in this way, as appears by a fup- 

 plemental ftatute of the 23d of the fame king, for permitting raw filk 

 of the growth or produce of Perfia, purchafed in Ruflia, to be imported 

 into this kingdom from any port or place belonging to the empire of 

 Ruifia : by which laft ilatutc it was cnaded, ' that, from chriftmas 1750, 



* all freemen of the Ruflia company, and they only, may import into 

 ' this kingdom from Ruflia, in Britifln-built Ihips, navigated according 

 ' to law, raw filk of the growth of Perfia, purchafed by barter with 

 ' woollen, or other manufaclures, &.c from Great Britain to Ruflia, 



* though the fame be not carried from thence into Perfia, or with the 

 ' produce arifing from the fale of fuch commodities, and not otherwife, 

 ' attefted upon oath, under the fame cuftoms and regulations, &c. as 

 •* the Turkey company are fubjed; to for raw filk from Perfia.' Till the 

 wars and deiblations rendered that trade quite impradicable (as it re- 

 mains to the prefent time) it was faid to be a profitable branch of bufi- 

 fiefs to the Ruffia merchants. 



At this time projeds and fchemes were publiflied in the Britifli con- 

 tinental colonies of America, for fupplying a want, or fuppofed want, 

 of a medium in trade, by letting up a bank on land lecurity. The flock 

 was to be raifed by public fubfcripiions, whereof luiall fums were from 

 time to time to be paid in by the fubfcribers, and to be managed by 

 diredors, treafurers, and other officers ; and dividends were to be 

 niade : and the fubf ribcrs were to promife to receive the bills which 

 they fliould iifue as lawful money in all payments, trade, and bufinefs ; 

 and after the expiration of twenty years, to pay the pofleflbr the value 

 thereof in manufadures. And as fundry other fchemes, focieties, part- 

 ncrfliips, or companies, liave been propofed, and may be fet on foot in 

 America, contrary to the true intent and meaning of a ftatute [6 Geo. 

 /, c. 17] for better fecuring certain powers and privileges intended to 

 be granted by his majefly's two charters, for afliirance of fliips and 

 merchandize at fea, 8cc. and 'tox reflraining feveral extravagant and 



