596 A. D. 1776. 



pended entirely on other places for its fubfiftence, it was a very conve- 

 nient acquilition. 



This year Captain Forreft, an enterprifing navigator in the fervice of 

 the Eaft-lndia company, who had formerly explored the coafts of New 

 Guinea and many others of the remote Oriental iflands, eftablifhed a 

 plantation of nutmeg trees in Bunwoot, a fmall ifland near the capital 

 of Magindano, which the king of that great ifland beftowed upon the 

 company. The plants were brought by him from Manafwary, an ifland 

 near the coafl: of New Guinea, and the chief difference between the 

 fruit and the nutmegs monopolized by the Dutch, is that it is of a longer 

 Ihape. 



September 22'' — The caifTe d'efcompte (office, or bank of difcount) 

 was this year eftablifhed at Paris by a fociety of bankers and others, 

 who fubfcribed a capital of twelve millions of livres. They propofed 

 to accommodate the public by difcounting bills at four per cent per an- 

 num, to deal in gold and filver bullion, to receive depofits of money 

 from fuch as chofe to lodge it with them, and to enter into no other 

 branches of bufinefs. The whole of the regulations for conducting 

 their affairs were thought to be very wifely planned ; and the inftitution 

 was fuppofed by the French to be a confiderable improvement upon the 

 bank of England. It was foon found, however, that the profits of dif- 

 count at four per cent, when the charges of management and fometimes 

 lofTes, were deduded, were by no means adequate to the amount of the 

 capital employed in this bank, and therefor they were empowered to 

 ifTue notes, the fum total of which was reftridted to the amount of their 

 capital ; and the partners, being moftly dealers in money, found no dif- 

 ficulty in giving extenfive currency and credit to their notes, which were 

 readily accepted by the public, as they could at any time be converted 

 into cafli. 



The BritiOi and French imports at Hamburgh and Bremen in the courfe 

 of this year were in value as follows. 



Hamburgh. Bremen. 



from Great Britain, Ireland, and 7 r r r. c 



the BritifliWefl Indies, |^974.442: j:o Lx^^Al^: y.o 



from France, - _ _ 1,099,559 : 12 : o 307,580 : 15 : o 



The Britifh cargoes carried to Hamburgh employed 226 veflels, 

 whereof 1 64 were Britifh, The French cargoes to the fame port load- 

 ed 192 veffels, whereof only 10 were French, and 20 were Britifh. 



The French trade, notwithftanding the great inferiority of fhipping, 

 continued to have the aicendancy in thefe two cities, the later of which 

 belongs in fovereignty to the king of Great Britain. But with refped 

 to Hamburgh, the freights, if they are not included in this valuation, 

 mufl turn the fcale greatly in favour of Britain. 



The emprefs of RufTia, poffefling the fpirit, as well as the dominions-, 

 of Peter the Great, was indefatigable in her efforts to improve and po- 



