1. That Trade is an Advantage to this Kingdom, which takes off our Product and Manufactures.
2. Which supplies us with such Commodities as we use in making our Manufactures, and encreases our Bullion.
3. Which incourages Navigation, and breeds up Sailors.
And consequently, any Trade which Exports little or none of our Product or Manufactures, nor supplies us with things necessary for the latter, nor incourages Navigation, cannot be supposed to be profitable to the Kingdom in general, though perhaps it may be so to particular Persons; especially if it carries away our Bullion.
East-Indies.I shall begin with the East-India Trade, which I take to be very prejudical to us, as ’tis now driven; because it exports our Bullion, spends little of our Product or Manufactures, and brings in Commodities perfectly manufactured, which hinder the Consumption of our own, and discourage the wearing such as are purchased with them; the chief Profit thereof arising from Underselling the Labour of our Poor, because ’tis bought there cheaper, than by reason of the Value of our Lands, and the prices of Provisions, they are able to work here. But having spoken fully of this in a former Discourse, and the Parliament having since been pleased, by an Act made in the 10th and 11th Years of his late Majesty King William, to prohibit the wearing of wrought Silks, Bengals, Stuffs mixt with Silk or Herba, of the Manufacture of Persia, China, and India, and all Callicoes painted, dy’d, printed or stained there. The Reason of which, is in the said Act set forth to be, The great Detriment the Nation received as the Trade was then managed, by exhausting the Treasure thereof, and taking away the Labour of the People, whereby very many of the Manufacturers were become excessively burthensome and chargeable to their respective Parishes, and others compelled to seek for Employment in foreign Parts, I shall not now repeat what I then wrote, but will consider how far the Remedy they then provided hath answered the End.
The making this Law, gave a new Life to our Manufactures, and would have given more, if the true Intent of the Parliament had been answered: But we have since found that it has not; for it neither keeps our Treasure at home, nor prevents those Commodities from being worn here, which they design’d it should; and I very much question, whether any thing less than a total Prohibition of their Importation will do it; for though they are directed to be exported again, yet there is great Reason to believe, that they are privately brought back, both from Ireland, our Plantations, and other Places to which they are sent, to the Loss of his Majesty’s Customs, and the Prejudice of the Stainers and Painters her, besides the Injury to our Manufactures: Otherwise, how come such great Quantities to be worn and used here, when the Stock in hand hath been so long since spent?
There are other Commodities, which the Company may trade in, and the Tract of Land within their Charter is large enough to afford an advantagious Commerce there, the Profits whereof might be returned hither, in things no way injurious to our Manufactures, such as Raw-Silk, Indigo, Pepper, Salt-Peter, Spices, Drugs, China-Wares, Coffee, Tea, and many other Things, if they were industrious to make Discoveries, as private Merchants would do, if the Trade lay open; and I believe it will not be disputed, that great Quantities of Raw-Silk, have been brought thence since the Making of that Law, than were used to be done before.
I know it hath been alleadg’d, That by the Exportation of those Manufactures again, more Bullion in specie is brought into this Kingdom, than is carry’d out for the buying them in India; but this was never yet made out, and it would be much to the Satisfaction of the People, who daily see that Bullion carried away, and also for the Honour of the Company, that it was done; which if it be really so, might be set forth in this, or any other Method that the Parliament shall think fit.
1. Let them give an Account what Quantities of Bullion they export on every Ship they send abroad, and on what Commodities ’tis laid out.
2. Let them set forth, how and in what manner, these prohibited Manufactures do, on their being Exported again, bring in as much Bullion in specie, as was carry’d out to pay for them in the Indies.