A. D. 1677. 587 



not fo cheap as from India. And India-wrought filks ferve ns inftead 

 of fo much Italian and French filks, which would cofl us almoft triple 

 the price of Indian filks; to the kingdom's lofs of above L2o,ooo 

 yearly. 



Calicoes ferve inftead of the like quantity of French, Dutch, and 

 Flemifh, linen, which would cofl; thrice as much : hereby 2 or L30o,ooo> 

 is yearly faved to the nation. And if the linen manufadure were fettled 

 in Ireland fo as to fupply England, our calicoes might be tranfported to- 

 foreign markets *. 



Indigo is neceflary for dying and perfecting our own manufadures.- 

 And the other drugs, &c. brought from India, are inconfiderable. 



The value of L630,ooo in India goods of the company's, and L20o,ooo ■ 

 value of private traders, are tranfported yearly to France, Holland, 

 Spain, Italy, Turkey, &c. whereby thofe trades are the better carried 

 on by the Englifh to a farther advantage of the kingdom, and cannot 

 be calculated to yield lefs than ten per cent clear profit, being L83,ooo 

 yearly : yet, as fome part may be exported by ftrangers, I fiiall efi:imate 

 the net profit at only L6o,ooo, being fo much farther addition to the 

 nation's flock. And here, by the way, it may be obferved, that the 

 kingdom hath a greater advantage, when the trade is driven by the Eng- 

 hfh merchant, than when it is carried on by fi:rangers, feeing all the 

 profit arifing by the trade of the one is brought back to England ; 

 whereas the profits of the others remain abroad. This I note for redi- 

 fying the miftake of fome, who fay, it is all one to the kingdom, fo the 

 trade be carried on, whether it be by the Englifh or by ftrangers ; as alfo 

 to evince, that it is the nation's intereft to encourage the king's fubjeds 

 in their trade preferably to ftrangers. 



The India goods are exported in Englifh fhipping, whereby much em- 

 ployment is given to our own fhips ; the very freight of which, being 

 about 5000 tons, cannot amount to lefs than L2o,ooo, being fo much 

 farther addition to the kingdom's ftock. 



From all thefe confiderations there will arife a full and clear anfwer 

 to the objection made againft this trade, becaufe of the quantities of 

 gold and filver exported to India. And thus the fending out of our 

 treafure increafeth it : whereas to coop it up would render it wholely 

 ufelefs. Had we all the gold and filver in the world, if it were abfo- 

 lutely kept and confined within this kingdom, it would neither in- 

 cre^^fe our trade, nor render us more formidable m ftrength and power. 

 If fome other foreign trades do wafte and confume our treafure, let us 

 find out expedients to prevent it. But, in the meantime, it would be 

 deftrudive to ftop the current of our real fupplies of it, by breaking 

 in upon, or obftruding, the courle of the Eaft-India trade, by which, if 



* • This is now in our time happily verified and effected yj.. 



4.-E 2 



