Tea with refpeSl to the Export of Gold and Silver. 287 
credit goes. But it is ftill fuppofed the public is able to repay 
whatever it borrows, and that property in paper is convertible 
into money. You have no reafon to doubt that you may fafely 
fell or exchange your gold or silver for a bank-note : but 
this is in a preemption that you can again fell or exchange the 
bank-note for gold or filver. Now you could have very little 
afturance of doing this, unlefs we retained amongft us fuch 
quantities of thefe metals as may anfwer the demands of the 
public, as well as private perfons. 
Let us therefore freely enquire if we can bear lo great an ex- 
portation of gold and filver as has been made from hence, for 
fome years paft, and whether we are not in danger of being, 
too much drained ? 
It is granted that we are to confider gold and filver as com- 
modities, which are bought and fold, and which the merchant 
may fend abroad with a view to his profit. The east-india. 
company, for inftance, has exported for fome years paft, above 
half a million to india, to purchafe the manufactures and pro- 
duce of that country, a great part of which we re- fell to fo- 
reigners : there have been years in which we have fold to the 
amount of £ 700,000 in piece-goods only. Tho* the freight, 
and the charges in india run very high; by this circulation the 
company has a profit, by which they are enabled to pay an in- 
tereft to the proprietors of the ftock ; and were it not for the 
charge of carrying on war in india, I conclude, though this is 
a point not generally agreed upon, that the nation is a gainer. 
However the ballance of the account of gold and filver, as it 
ftands 
