A. D. 1797. 407 



22) Brokers fliall be obliged, upon due proof, to make good all lofles 

 occafioned by inferior quality or fraudulent package of the goods pafling 

 through their hands : and they fliall receive a fair brokerage. 



23) Regulations fhall be made for preventing abufes in packing leather, 

 hemp, or flax : and any difputes concerning the weight or tare of merch- 

 andize fliall be determined at the cuflom-houfe. 



24) The fubjeds of either power fliall be treated in the dominions of 

 the other as the mofl; favoured nation with refped: to taxes and duties. 



25) The fubjeds of either power, living in the dominions of the other, 

 fliall have liberty to aflemble in a body with their conful, as a fadory, 

 and make regulations for their common intereft, which, however, mufl: 

 in no refped be contrary to the laws of the country wherein they are 

 eftabliflied. 



26) The duration of the treaty is fixed to be eight years, reckoning 

 from the expiration of the convention of the year 1793 ; that is to fay, 

 tin the 25" of March 1807. 



This treaty was figned at Peterfljurg by three Ruflian plenipotentiaries, 

 and Sir Charles Whitworth, io"'-2i" February 1797 *. 



The bank of England is the center of all the circulation of money in 

 the kingdom, as the heart is the center of the circulation of blood in 

 the body. Being the great repofitory of the fpare cafli of the nation, 

 it is fubjed to be called upon for cafli, diredly or indiredly, by thofe 

 who are in want of it, and is neceflarily aflieded by every material fail- 

 ure or diftrefs, which arifes from a deficiency of coin in any part of this 

 kingdom or Ireland. 



The great and continued drains of bullion in confequence of the en- 

 ormoufly expenfive operations of the war, the loans to the emperor of 

 Germany and other fubfidies to foreign princes, and alfo the large fums 

 payable for cargoes and freights of neutral fliips taken, which the fo- 

 reign owners required to be paid in bullion, had raifed the price of gold 

 (8"' Odober 1795) to ;^4 : 4 : o per ounce: and our gold coin being 

 only ;^3 : 17: io4- per ounce, it was evident that the current money 

 of this country, confifting almoft wholely of gold, would be carried 

 abroad to a very alarming amount. 



Ever fince December 1794 the diredors of the bank of England had 

 been repeatedly exprefllng to the chancellor of the exchequer their un- 

 eafinefs on account of the magnitude of the fums drawn from the bank 

 for the fervice of government, and anxioufly requiring payment, or at 

 leafl a confiderable redudion, of the debt. They even refolved to limit 

 their advances upon treafury bills to the fum of /?500,coo ; and they, 

 requefted of Mr. Pitt to make his arrangements fo as not to have occa- 



* Though fcveral articles in this treaty differ the comprtHed fubftancf of the whole, than t^ jiiit 

 little or iiutliiiiiT from correfponding ones in that the reader to the trouble of fo many tiir.es paQiig^' 

 of the year i 765, I have thought it better to give froni the or.e to the other. 



