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340 COCHINCHINA. 
space, which in the evil day can most conveniently be con- 
cealed. In such countries the profits upon trade are usually 
hoarded up in the precious metals. Such, I believe, is pretty 
much the case in India, and still more so in China : the 
latter may therefore be considered as a perpetual sinking fund 
for European specie. 
This annual drain of hard money to China is of the less 
consequence to us, so long as, by our supplying the continent 
of Europe with a considerable part of the return cargoes, with 
our manufactures, and the produce of our colonies, the metals 
which are dug out of the mines of Potosi shall ultimately find 
their way up the Thames ; or, in other words, so long as the 
general balance of trade of the whole world shall remain in favour 
of England. Notwithstanding, however, this may be the case 
at present, it would still be a desirable object to accomplish 
an equalization of the trade between this country and China, 
and thereby put a stop to the annual drain of specie required 
by the latter. An intimate connection with Cochinchina 
would, in my opinion, go a great way toAvards effecting this 
object. This country ^^rnishes many valuable articles suit- 
able for the China market, and would open a new and very 
considerable vent for many of our manufactures ; and its 
situation in the direct route from England to China is an un- 
exceptionable consideration. The forests of Cochinchina 
produce, for instance, a variety of scented woods, as the 
rose wood, eagle wood, and sandal wood ; all of which are 
highly acceptable in the China market, and bear most ex- 
travagant prices. The Cochinchinese cinnamon, though of 
a coarse grain and a strong pungent flavour, is preferred by 
