266 "A. D. 1748. 



than any number of private perfons can be. Alio, that thofe forts arc 

 very ufcful for our negro trade, without which our American planta- 

 tions could not be fupported, more efpecially as the bell negroes are 

 purchafcd on thole coafts where the company's forts and feitlements are : 

 from which coafls alfo we import gold, ivory, bees'-wax, beaver, and 

 many other valuable commodities, in exchange for Britifli manufidures 

 and our own Eafl-India merchandize. Laftly, without fuch forts and 

 fettlements, it would be not only extremely difficult to protect, and, in 

 cafes of dillrefs, to relieve, our fliips trading on that coall, but alio to 

 fecure the inland trade thereof. Notwithftanding all which, at lead fpe- 

 cious, propofals, the African company's papers remained on the table 

 to the end of that feflion of parliament : lb difficult did our legiflators 

 find it at this time effectually to fettle that trade. 



All parties' being weary of war, a peace was concluded at Aix-la' 

 Chapelle, whereby all that had been conquered by France in the Auf- 

 trian and Dutch Netherlands was reftored to their refpediive fovereigns. 

 Moreover, between Great Britain and France it was ftipulated mu- 

 tually to reftore whatever forts or territories had during this war been 

 taken on either fide : whereby Fort St. George in India was reftored to 

 our Eaft-India company ; as, on the other hand, the ifland of Cape- 

 Breton, and its town and fortrefs of Louilhurg, were reftored to France. 



Spain indeed acceded to the general peace, but without any particu- 

 lar ftipulations in point of commerce with Great Britain. What re- 

 lated to the South-fca company's commerce, on one hand, and the de- 

 predations of the Spanifh guarda-coftas, on the other, being referred to 

 the difagreeable and tedious way of negociating,by Sir Benjamin Keene, 

 at Madrid. In the meantime, it was plain, that the court of Spain 

 never intended to permit another annual South-fea fliip to trade to their 

 Weft-Indies, there being but about tour years to run of the term of 

 that contrail, (viz. forty years from 17 13 to 1753) the feveral interrup- 

 tions of the trade being deducted or allowed for. And while this fuf- 

 penfion continued, many things pafted in converfarion, and fundry ef- 

 fays were publifhed for and againft that manner of trading, In favour 

 of it, it was faid, that the great annual fliip ufually conveyed about 

 L25o,ooo value in manufactures from hence to the Spanifli Weft-Indies, 

 for the company's account ; and that in each of thofe great fliips there 

 went about 1^50,000 more in private trade : upon which trade, it was 

 alleged, a profit of near cent per cent was made : that therefor the gain 

 to the nation was greater this way than in the old channel of our trade 

 by the way of Cadiz, even though the Jamaica fmuggling trade were 

 included therein : and that, though the South-fea company might not 

 be fo great gainers, yet their factors, agents, &c. brought home great 

 fortunes, frequently in a very fliort fpace of time ; and our annual fliip's 



