A. D. 1797- 429 



and that a pofitlve duty of two per cent on the fale amount fliall tlien 

 be paid by the company, from which there fliall be no drawback on 

 exportation. Tills duty they eftimated at ^60,000, with a probability 

 of vhe increafe of fales raifmg it at lead to /^86,ooo, which may be 

 about the net amount of the preleiit duties, to fccure which the buyer 

 of goods for exportation is obliged to advance almofi: twice the real 

 price of the goods, and a great temptation is held out to a very perni- 

 cious branch of fmuggling. If this plan were adopted, 'a great ac- 



* comodation would be afforded to the traders of this country. They 



* would then be able to carry on export concerns to an extent far be- 



* yond what they now do, and with the fame capital. From this it is 

 ' natural to infer that a ftronger competition would arife among the 



* buyers, to the great advantage of the importers, and alfo of the re- 

 ' venue. Another defirable object will be attained by Great Britain 



* becoming fo great a mart for Indian articles ; the exchange will be in 

 ' her favour from almofi: all quarters of the globe, an advantage not 

 ' within the pofTibility of eftimate.' 



The memorial of the directors was followed by another from the 

 principal, agents for perfons refiding in India, wherein they requeued 

 the lords of the treafury to recommend to the legiflature a continuance 

 of the abfolute exemption from duty for all raw materials ; as the duty 

 of two per cent, to be laid indifcriminately, according to the pro- 

 pofal of the diredors, upon all Eaft-India goods, if extended to them, 

 would have the effect: of checking the produdion of them in India, 

 where the cultivation of fome of them is but in an infant flate, and di- 

 verting the importation of them to other countries, to the great injury 

 of this nation and efpecially of the manufadurers. 



The republic of Venice, one of the mofl antient of the modern 

 governments of Europe, continued for m.any ages to be, what Great 

 Britain is now, the fi.rft commercial flate in Europe, till the difcovery 

 of the route to India by the Cape of Good Hope transferred the moft 

 valuable branch of their commerce to the Portuguefe. But, even after 

 that great and irrecoverable defalcation of their trade, the Venetians 

 retained a refpedable rank among the fovereignties of Europe till this 

 year, when, having unfortunately given offence to the French in the 

 career of their conquefts in Italy, their territory was feized, and their 

 government aboliflied ; and finally their dominions were transferred by 

 the conquerors to the emperor of Germany by the fixth article of the 

 treaty of peace concluded at Campo Formio, Odober 17"*. 



Odlober 1 1 "" — Admiral Duncan, with fourteen fhips of 74 and 64 

 guns, two of 50 guns, two frigates, and fix fnaller veffds, engaged a 

 Dutch fleet, confifling of twenty-feven veflels of from 74 to 6 guiis, 

 under the command of Admiral De Winter. After a very bloody en- 

 gagement the Dutch. admiral and vice-admiral fhips, together with nine 



