A. D. 1748. 267 



cargoes kept the French, Dutch, &c. from fupplying the Spanifli Weft- 

 Indies, to our great emolument. 



On the other hand, it was afTerted, and very generally beUeved, that 

 the South-fea annual fhip had occafioned a vaft decreafe of our annual 

 exports to Spain, fome faid even fo much as to one half of former ex- 

 ports ; whilft, at the (■.inie time, our imports from Spain have been gradu- 

 ally increafmg : that the fuperiority of our arms forced the afhento 

 contradl on Spain againft their inclinations, and on that fcore the Spa- 

 nifh court and traders have difcouraged our manuflidures formerly fent 

 to Cadiz, and encouraged thofe of France, Flanders, and Holland : that 

 of the cargoes of our annual lliip itfelf, a great deal confifted of the 

 merchandize of foreign nations, and particularly of thole of France 

 and Holland, for afTortments for the Spanifli markets in America : that 

 the afliento contract: had enhanced the price of negroes for our own 

 colonies : that our fupplying the Spaiiifh Weft-Indies fo regularly with 

 negroes had encouraged them to raife greater quantities of fugar and 

 tobacco, to the detriment of our own : that the Spanifli court having 

 always effects of the South-fea company's in their American ports, had 

 it conftantly in their power to make feizures of thofe effecls on various, 

 and often unjuft, pretences. Thus, in the year 171 8 the company's 

 lofs hereby was computed at about L225,ooo fterling ; and in 1727, at 

 about half as much more ; befides the feizure bv the war now conclud- 

 ed, and not yet juftly computed ; and the many other violences of the 

 Spanifli American governors and agents. Finally, as the company had 

 undoubtedly, upon the whole, been lofers by their trade, and as they 

 had only four years more of their afliento term remaining, which Spain 

 was determined not to renew, at leaft on any promifing terms ; for 

 tliefe reafons it was concluded by the Britifli court, to inftrucT: the mi- 

 nifter at Madrid to obtain the beft equivalent that could be procured 

 lor the remaining fliort term of the company's afliento contract: the 

 refult of which Ihall be fliewn in its place. 



By a ftatute of the 21ft year of King George II, the fund of the or- 

 phans of the city of London was farther prolonged and fecured, by 

 continuing the 6d per chaldron, or ton, on coals and culm, which was to 

 exjure at michaelmas 1750 by the 5th and 6th of William and Mary, 

 for thirty-five years longer, for the following purpofes, viz. ift, for 

 raifmg L3000 yearly to the mercers company, for payment of their an- 

 nuities and debts ; and, 2dly, the refidue thereof for making part of 

 the orphans fund, for the benefit of which alio all the city manors, 

 lands, &c. fliall ftand charged with the yearly fum of L2000, over and 

 above the L8000 applied by former laws. And, as the fund for raifing 

 the 4 per cent intereft on the orphans capital ftock has produced a very 

 l:u-ge lurplus, including L2 1,735: 17:9 due at midrumnier 1748, to 

 make good the yearly fum of L2000, which bv 11 former ad ought to 



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