116 Mr. Crellier on the 
it is certain that fome articles at prefent 
are confiderabiy more than feventy-one 
per cent. above the value at which they 
are rated ; taking the whele, however, as 
rated only fixty per cent. under the pre- 
fent values, the annua] amount cf foreign 
trade wil be 79,888,000l., to which fume 
additicn fhould be made for finucgled 
goods. This valuation is corroberated 
-by the produce of the duty on fea-affur- 
ances, fhe amount of which, for the year 
3797) Was 93,965]., which fhews the ca- 
pital aflured to have been 75,172,000). ; 
and though a part of this fum confifts of 
the value of the veficls, and of the property 
oi foreigners, no deduction is made on tiis 
account, as an addiiien of probably greater 
amount fhould be made for the merchants 
taking part of the rifk on themfelves, and 
theretore not affuring to the full value ; 
and at any rate the jum of 79,38%,oool. 
will not appear an exaggerated efiimate of 
the prefent amount of foreign trade, as the 
accounts, both of the exports and im- 
ports, and of the afiurance duty, fer the 
year 17¢8,. prove that it was confiderably 
greater thanin the year 1797, from which 
the eftimate is firmed. It was the opi- 
nion of a numerous meeting of merchants, 
in Marci.1797, that there is at all times, 
at the leaft, two months’ fupply of export 
and impo:t merchandize in the cufody of 
the merchants and traders, which, ac- 
cording tothe above total, will amount to 
23,314,6661., to which fome additicn 
fhould be made for property ia the hands 
of foreign merchants, on account of the 
merchants of this country genera.ly giv- 
ing longer credit than they are ailowed 
from other countrics. But though the 
value of goods in the hands of merchants 
and wholefale-cealers appears fo confide- 
rable, 1t muft be much exceeded by the 
goods in the hands of the meaufacturers, 
and of retail-traders ; tor though many 
of cur principal manufaciures depend 
greatly on foreign trade, their main tup- 
port is the howe confumpiion, which !ur- 
nifhes a more fure and {peedy return than 
foreign markets. ‘The official value of 
Britifh manufaGtures exported in 1798 
was 19,771,510]., which, as before oo- 
ferved, appears to be at leait fcventy-ore 
per cent. below the real value; teking the 
actual value therefore, on an average of 
two years, at 31,356,7931., it may be pre- 
fumed, that this cannot be more than a 
third of the whole produce of our manu- 
factures, which will thus amount -to 
94:070,3791., of which but a {mall pro- 
portion is included. in the value before 
smentioned im the hands of the merchants, 
National Wealth. [Sept. 1; 
which confitts chiefly of foreign merchan- 
dize, and materials for the different ma= 
nufctures, as they can generaily obtain 
manufactured goods for exportation at 
a fhort notice; deducting, however, 
5,000,0001., on this account, ef the re- 
mainder, it is probable that there is much 
more than three months fupply in the 
hands of the manufacturer, io different 
fiages from the raw material to finifhed 
goods, and in the pofleffion of retail- 
traders, who, in many branches, are 
obliged to keep a large affortment ; but 
taking it only in this proportion, it 
amounts to 22,267,594. 
There ftill reroains to be valued that 
part of the property of individuals which 
confilis in houthold-furniture, wearing-ap- 
parel, piovilions, fuel, carnniages, &c., with 
refpect to which the moft that can be 
done is te form a conjecture that fhall be 
generally admitted as not-excceding the 
truth, and certainly this general kind of 
preperty, of which every individual mutt 
pofiels or enjoy the ufe of fome fhare, will 
no: be thought over rated at three times 
the yearly rent of the houfes which con- 
tain it, or 26,026,000l, in all Great Bri- 
(ain. 
daving thus valued the different de- 
fcriptions of ftock, or aétual capital, its 
total amount will appear as follows : 
Value of the land of Great Ea 
Brisain, - Lr 
924,000,000 
Houfes, - s 170,000,000 
Catile and all kinds of farm- 
ing-fteck, Es - 102,000,000 
Shipping, navy, and mer- . 
chant-fhips, és 316,000,000 
Money, - - - 25,000,000 
Goods in hands cf merchants 
ard wholelale-dealers, - 

135314,000 
Go ids in hands of manufac. 
rurers and retail-traders, 22,267,000 
Furniture, apparel, &c. - 26,026,000 
Total, - - - 4,298,607,000 

Upon this capital all other {pecies of 
wealin, whether confhiting in the fecurities 
of government or individuals, or of any 
other defcription, ultimately cepends 5 
for piivate and public Joans, in which 
mode a great part of the property of many 
perfons 1s invelted, implying an ebliga- 
tion on the part of the borrower to repay 
ata future period a certain fum of money 
which is the meafure and reprefentative of 
all other fpecies of real property, or to 
pay an income arifine from this fu til - 
the capital is repaid, the borrower is no 
otherwile richer than by the. greater in- 
2 come 
