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Excufes the East-India Company. 
I am fenfible it is difficult to get at the exad truth ; I do 
not pretend to calculate exa&ly, either the quantity of the tea 
which is run in upon us ; or the amount of the gold and silver 
of which we are drained ; but I think I am not very wide of the 
mark in either. Some who know the truth better, may be in- 
terefted to conceal it ; and others, who confider it only as a ve- 
nial evil, may flatter this national vice : but if you love your 
country, you mud not indulge yourfelf any longer in it* 
Farewell. I am yours, &*c. 
LETTER XVIII. 
To the fame * 
Madam, 
I HAVE heard you fay, that you think refpedlfully of mer- 
chants : you know of what importance they are to the fiate : 
even under arbitrary governments they are countenanced, and 
fometimes enjoy immunities fuperior to other fubje&s, whofe 
profeflions are of lefs utility to the commonwealth. In a free 
country, indeed, the people trade with one common and equal 
liberty, yet it has been fometimes thought necessary to grant 
privileges to a certain number of traders, in exclufion of all 
other merchants. But the east-india company adt only as 
directors or managers, for the proprietors, and any one may 
become a proprietor of the trading flock, and ftand to the pro- 
fits or lofs in it, according as the price of the flock varies. 
Contrary to the opinion of fome zealous patriots, I ap- 
prehend the east-india trade to be of the greatefl importance 
to 
