A. D. 1620. 



299 



Now, on iuppofition, that near the fame proportion holds in our days, 

 then it will follow, upon Mr. Munn's plan, that a more confiderable 

 national benefit will arife from our modern Eafl-India trade, the im- 

 ports whereof are now fo greatly increafed ; more efpecially in the ar- 

 ticle of Bengal and China raw filk. Moreover, it is queftionable, whe- 

 ther, if the trade were turned into the old channel again, the Turks 

 could take off much more of our produce and manufadures than they 

 do at prefenf: fo that moft of the balance fnuTl, in that cafe, be paid 

 to Turkey in ready money by all Chriftendom. Yet an objedion may 

 be ftarted on the other fide, viz. whether that balance would be fo con- 

 fiderable as that which we, in particular, and the reft of Europe, fend 

 yearly in filver to India, more efpecially fince the vaft increafe of the 

 confumption of tea from China, then unknown to Europe. Mr. Munn 

 fays, ' that in his time the Turks lent aumjally from Aleppo and Con- 

 ftantinople L500,coo Sterling in money, merely for Perfian raw filk '; 

 and L6oo,ooo more from Mocha, for calicoes, drugs, fugar, rice, &c. 

 the Indians taking very little of the Turks in merchandize, but ahnoft 

 'the whole in money. That the Venetians, Elorentines, and Marfeillians 

 export much bullion ; but it is in order to import much more : and 

 this he thinks to be the cafe of our Englifli Eaft-India company ; 

 which, however, had only exported, from its firft eftabliihment in the 

 year 1601 to July 1620, L548,090 in Spanifh lilver ; whereas they 

 might by licence within that time have exported L7 20,000. And in 

 the faid nineteen years, they have exported, in woollen cloths, tin, lead, 

 and other Englilh and foreign wares, to the value of L292,286, being 

 on an average Li 5,383 per annum. Upon the whole, our author 

 thinks the trade to India ought to be confidered as exporting annually 

 in goods, &c. L48o,ooo, and importing only Li 20,000, whereby there 

 is an annual balance in our fivour of L36o,ooo, which is either receiv- 

 ed in money, or its equivalent, from Turkey, Genoa, Leghorn, Mar- 

 feilles, the Netherlands, &c. whither we fend our Indian wares. He 

 fays, the French aiad Venetians export annually to Turkey L'6oo,ooo 

 in bulhon, for the purchafe of Periian raw iilk, &c. which they after- 

 wards in part manufacture and export, and partly re-export raw to all 

 parts of Europe ; from whence they bring home much niore bullion 

 than they before exported to Turkey; which is alto a parallel cafe to 

 that of our company's exportation of bullion to India. That in the 

 company's late quarrels with the Dutch, twelve of our (hips were fur- 

 prifed and taken by them, which has been a great lofs to the company ; 

 yet they had ftill twenty-one good fliips in India, and 1.400,000 of good 

 eftate ; this trade employing 10,000 tons of fliipping, 2500 mariners; 

 500 flaip-carpenters, and about i2ofadors. That with regard to the 

 prefent complaints of the fcarcity of money amcngft us, our laying 

 afide the Eaft-India trade, inftead of a remedv, would make the matter 



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