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chasers would have been better satisfied ; for, to vend goods at a rea- 

 sonable price is the certain way to keep the demand steady, but to 

 force them upon the consumer, whether he wants them or not, is to 

 render what was once a luxury so common as to become contemptible: 



In the Plata, the monied men bought very largely of the cargoes 

 which first arrived, and were afterwards considerable losers by the 

 overflow which took place, when men of less capital bought for ten 

 thousand dollars, what a few weeks before sold for fifteen or twenty. 

 In Rio de Janeiro the case was somewhat different ; for the monied 

 men thought the English manufactures inexhaustible, and therefore 

 kept back their gold, leaving the trade principally to men of a se- 

 condary class, who bought with great caution, and sold very promptly, 

 for fear of a further depreciation. 



Having stated the ruinous consequences of sending out goods not 

 saleable, it may be proper to point out the articles in general con- 

 sumption, though even these may be sold at great loss if the markets 

 be overstocked, for trade must depend on the wants and necessities 

 of the consumer. If a person possesses seven or eight hats, as many 

 coats, &c. it is unreasonable to suppose that he can want more, 

 though he may be tempted to purchase, if offered at very reduced 

 prices : but even that must have an end, and a trade must soon ex- 

 pire where one party is constantly the loser. This has been too ge- 

 nerally the result of ! our late speculations in South America, into 

 which people hurried without calculation or foresight. 



Iron and steel are articles for which there is a general and constant 

 demand. The smiths prefer Swedish iron, as they have been always 

 accustomed to it, and do not know how to heat and work the Eng- 

 lish. The next article to be mentioned is salt, in which the Brazilians 

 are by no means nice. It is made and loaded at one or two places 

 on the coast, but that which is most esteemed comes from the Cape 

 de Verde islands ; that brought from Liverpool is generally used 

 in the sea-ports. Common woollens, baizes, and some stout fine 

 cloths, particularly blue and black, are generally worn; also ker&ey- 



9 : 



