342 A. D. 1760. 



though, according to the dodrine that gold and filver are the only 

 ftandard of wealth, fuch exportation is fo much clear lofs to the nation. 



Great quantities of goods, fubject to high duties, totally prohibited, 



or fhipped for exportation upon bounties or drawbacks, are clandeftine- 

 ly imported. Such importations, though not appearing in the general 

 account, there is reafon to believe, have confiderable influence on the 

 exchange with forae neighbouring countries *. And fuch of thofe 

 fmu2:gled goods as have been entered for exportation, perhaps over and 

 over again, thus make great additions to the fallacious eflimate of the 

 profitable balance, without ever being in reality exported at all for fo- 

 reign confumption — All goods, exported for the ule of our armies 

 abroad, are part of the national expenditure ; and can no more confli- 

 tute a real part of the profitable balance, apparently fuelled by their 

 exportation, than the goods taken from his flock, by a manufadurer or 

 fhop-keeper for his own ufe, can be ftated as enlarging his profitable 

 fales. — Cargoes entered outward, which are lofi: at fea, or taken by the 

 enemy, fwell the amount of exports, and confequently of fuppofed pro- 

 fit ; whereas in fadl they are a dead lofs to the nation (and, in cafe of 

 capture, tend to enrich the enemy, by whom they are in reality export- 

 ed) while the want of the homeward cargo, which fhould have been 

 imported in return, and which to the individual fufferer is not only a 

 real lofs, but a heavy difappointment and derangement of his plans of 

 trade, tends to enlarge the fuppofed balance of trade in our favour. 

 And the lofs or capture of homeward-bound fliips in the fame manner, 

 by diminifiiing the amount of entered imports, fallacioufly adds to the 

 apparent favourable balance. 



On the other hand, there are branches of trade, which would be 

 ruinous, if the imports did not exceed the exports, or, in other words, 

 if the balance were not unfavourable, according to this flandard of efti- 



mation Such is the trade with all our Weft-India fettlements, which 



have been formed and fupported by Britifh capitals, and in a great mea- 

 fure owned by proprietors refiding in Great Britain. Therefor the out- 

 ward cargoes f are to be confidered as the flock employed in the cul- 

 ture of the plantations ; and the homeward cargoes are in fad: the pro- 



* For example, can we fiippofe that England iaids. In the year 1758 the value of the bounty 



this year bought goods from France only to the linens fhipped from England to all the colonies 



amount of j^3 7 in return for goods to the amount was ;^2CO,657 : 16 : 3, btfides thofe fent from 



of /,"209,946, or that Scotland took not one arti- Scotland. In 1761 it was only /"141, 895 : 6 : o ; 



cle in return for tobacco, &c. amounting to and in 1762 it funk (apparently in confcquence 



/"34i,87i, feeing that the commerce in tobacco of the war with Spain) to j^28,26o : 13 : i ; and 



was tolerated on both fides. the vigilance of our own cruifers and revenue ofR- 



\ While the linens exported on the bounty cers prevented the revival of the lucrative clandef- 



were made a feparate article in the account of ex- tine trade with the Spaniards on the return of 



ports, thefe outward cargoes were lower than the peace. After the year 1764 the bounty linens 



truth by the whole amount of thofe linens fent to were more properly entered along with the other 



the Weft-India iflands, in which a very large pro- qoods in the exports of each particular country, 

 portion of them was confumed, or fold to the Spaa- 



