zgB TRAVELS IN 
It was an opinion, at one time pretty generally entertained,, 
that by reason of the long and expensive voyage to India, and 
of the moderate profits with which the Company was satisfied, 
the throwing open of the India trade would be less injurious- 
to the interests of the Company than ruinous to the concerns 
of the private merchant who might be induced to engage in 
it. Yet we see great numbers of ships every year proceed- 
ing, even as far as China, under foreign flags, but with British 
capitals ; and it is certain that the Americans, with very small 
ships and proportionate capitals, find their account in the 
India and China trade, exclusive of that part which employs 
them in carrying home the private property of individuals, 
Avho have enriched themselves in India. The Americans, 
■with the returns of their lumber cargo, which they can always 
dispose of at the Cape, and the produce of their South Sea 
Fishery in^ oil and seal-skins, will always be able to purchase 
a cargo of China goods, part of which they may find conve- 
nient to dispose of at the Cape on the return-voyage, in ex- 
change for wine and brandy. With the rest they not only 
supply the West Indian and American possessions of foreigii 
powers, as well as the markets of their own extensive country, 
but it is well known they have, of late j^ears, very materially 
checked the re-exportation of India and China goods from 
England to our own islands in the Atlantic. 
It is obvious, then, that the Americans, by tmding direct to 
India and China, can afford to undersell the English West 
India merchants in oar own islands, notwithstanding the dra\r- 
backs allowed on export from Leadenhall-street ; and, conse- 
quently, that they may find their advantage in being allowed 
