1806. ] Monthly Commercial Report. 99 
we do a perfect monopoly of every precious commodity, he muft be a madman who either 
attempts to fet bounds to our trade, or one poffefled of little difcernment, whe does not 
perceive that for many years to come we imuft retain our prefent cominercial pre-eminence. 
Let him who may doubt, confult the firft article of this Magazine. 
The facility of credit by the multiplication of artificial capital, enables us to compete 
with and underfell in every foreign market. That lofs muft of necefhty often accrue, there 
can be no doubt ; but it is fuftained and {hifted from fhoulder to fhoulder, till it is loft in the 
magnitude of this extenfive and extending fyftem. ‘lo this principle is to be afcribed the 
flourifhing ftate of the country during the laft war ; when the continued increafe of the 
revenue (the (tated criterion of its commercial and political profperity) confounded 
thofe who could not comprehend how, in the midft of war, when numerous channels of 
communication were obftructed and ‘fulpended, the imports and exports had fo rapidly 
increafed. But it was the natural effect of the operation of this fyftem ; and in the compa~ 
rative facility. of commencing bufinefs is difccrnible the neceflity of repeated and unwearied 
fpeculation. This produces the increafed revenue, and alfo thofe mevitable diftrefles and 
embarraflments which want of real capital creates. Thefe give rife to thofe unceafing repre- 
fentations of diminiflied trade and declining commerce, at a time when the revenue is 
known to have extended. It is the effect of this fyftem,. and while it lafis will always be fo. 
The feafon of the year allo operates to produce a confiderable dimmution in the export- 
trade, as we have no communication to the Continent while the navigation is obftructed by 
the froft. Sugars, and Coffee, and other articles, have deprefied in confequence of the de- 
mand flackening ; but as the {pring approaches, trade will aflume a more animated appear- 
ance, by which time many of the cautes will ceafe to operate. 
Our importations are very confiderable, and equal any former averaged period. The 
rates of exchange fince our laft have rifen in our favour full 14-per cent , which at leaft in- 
dicates that our exports had been large during the laft months, in conjunction alfo with the 
termination of the war on the part of our Allies, which puts an end to the farther remittance 
of. fubfidy. : : Me 
It is faid that the Americans either have or are about to lay an embargo upon our fhip- 
ping. If this fhould be true, or the matter in difpute fhould come. to iffue, we hope the 
prefent toleratiou of the prize-laws of this country will be converted into the feverity of 
ftri€t and ample policy. We have falfered much, and continue to fultaim very extenfive in- 
jury, by the frauds committed by the neutral flags, which has been fo ably expofed by a 
recent publication, that farther lenity and indulgence will be a compromife of the real in- 
terefts of the ftate. 
‘The crop of indigo in Bengal this feafon has been uncommonly productive, and of a very 
fuperior quality ; the quantity exported being 60,000 maunds (a maund Is 74 Ibs.), which 
is nearly equal to the quantity exported of the two laft feafons together. The Arabs have 
purchafed about 7000 mids, and this will take out fo much from the European market. In 
this way a new channel has been opened for ‘that commodity, as well as for all European 
articles. ‘The Perfians formerly fupplied themfelves from the upper provinces of Hindot- 
tan, but the war there, and more particularly the heavy and injudicious exaétions of the 
intermediate petty native princes, prevents the indigo going by land, and obliges the buy- 
ers tocome round and purchafe at the Calcutta market. This is a very. favourable compe- 
tition for the Bengal indigo, both trom its quality, and becaufe the Perfians can be fupplied 
much cheaper by fea than a tedious land-carriage loaded with oppreflive duties. It is alfo 
expected that large orders for other articles will be obtained by this communication. 
The markets in the Eaft have been much brifker than for fome time paft, aud very large 
fhipments are in confequence going out this feafon. 
The trade of Manchefter ftill continues very dull, and fales have lately been made at 
very low prices, by which the manufacturer cannot be indemnified ; an opening to Cadiz is 
however fhortly expected ; then fome little activity will be infuled, as there isa very large 
confumption in Spain of our manufactures, though contraband. 
The fluctuation in the price of ftocks fince our laft has been very trifling. 3 per cent. 
confols are 593 ; 5 per cent., 894; Bank ftock fhut ; omuium, 62 ; 3S per cent reduced, 
592, Gold in coin or bars, 41. per oz. ; filver, 5s. 75d. per oz. 
‘the average price of Wheat under the new act is 67s. 23d, and of Flour, 64s 63d. Hops, 
bags, 6]..to 7 guineas; pockets, 61. to 111. Coffee, 110s. to 160s. Cocoa, 95s. to 135s. 
Sugars, 63s. to 90s. ; clayed ditto, 77s. to 111s; lumps, 101 to 105s. cwt. Spices.: Pep- 
per, 94d. to 123d ; white, 2s. 3d.; long, 150s. to 160s. ; fhort long, 90s.; Cloves and 
Cinnamon, 7s. 6d. to 8s ; Mace, 80s, to 100s. ; Nutmegs, 2¢s. to 24s. ; Cochineal, 27s. to 
32s. Copper, 4s. 11d. to 2s. Cotton-wool fomething lower than laft ; Bourbon, 2s. 2d. ; 
Georgia, 2s. 10d. ; Weft-India, is. 7d. to 2s. 3d. 3 Eaft-India, 1s. 9d to 2s. Indigo, Eatt- 
India, 8s. 3d. to 14s. per lb. Madders, Dutch crop, 85s.to 98s. Saltpetre, 78s. Tallow, 
66s. to 72s. 6d. Tobacco, 4d. to 13d, Bees-wax, 15]. to16l. 10s. Wool, Spanifh, 5s. 3d. 
‘to 6s. 6d. lb. Coals in the: Pool, Neweaftle, 48s. to 52s 3.3 Sunderland, 47s. 9d. to 
30s, 3d. ; 80 fhips at market, and few fold. | 
MONTHLY 
