Nor do I see what need there was to fight our way into a Trade altogether as advantageous to the Natives as to us, for whilst we supply'd them with things they wanted, and were of value amongst them, we took in exchange Slaves, which were else of little worth to the Proprietors; and it cannot be thought that the People of England who have setled such large Colonies on the Continent of America (besides its several Islands) where there was no reasonable Prospect of Encouragement, and have increased their Numbers so as to be able to defend their first Footings without the help of a Company, not only against the Natives where they found any, but likewise against all other Nations, should fall short in carrying on this Trade, which doth at the first view offer the Prospect of so great a Profit.
Let us now consider the Inconveniences that have attended this Monopoly, and consequently the Conveniencies which would come to the Nation by digesting it into an open and free, tho' a regulated Company; sure if confining the working in a Golden Mine to one day in a week which would afford the like Treasure every day to the Nation cannot be its advantage, no more can the limiting this Trade; for if we send more Ships we fetch more Negroes, and vend more Commodities for their Purchase; besides every Negro in the Plantations gives a second Imploy to the Manufacturers of this Kingdom, and had we many more to spare the Spaniard would buy them, so there can be no Ground for putting this Trade into few Men's Hands, except 'tis designed those few shall grow Rich, whilst for their sakes the Nation suffers in its Trade and Navigation; The Company have made this detrimental advantage of their Charter, that they have thereby been enabled to buy up our Manufactures cheaper at home, and to make the Planters pay dearer Rates for Negroes abroad, than could have been done if there had been more Buyers for the former, and Sellers of the latter; besides the ill Supply they gave the Plantations, and the partiality in their Lots and Dividends there, the effect whereof was that one Planter who was befriended grew Rich by having good Negroes, whilst another was ruined by having none but bad; and this drew with it another ill Consequence, their Factors as it were Monopolized Trade to themselves, by obliging the Planters to deal with them for other things if they expected favour when the Negro Ships arrived, so that the rest of the Merchants were forced to look on whilst the others had any thing to sell, and all because they were restrained by a Monopoly from supplying the Planter with the same Commodity, for which likewise the Company expected ready Pay, whilst the others gave long time.
This was sully proved before the Honourable Committee at one of their Meetings, to whom I heard an eminent Merchant of London of an undoubted Reputation and well acquainted with the Trade to Africa affirm, That on a former little relaxation of the severity of their Charter, which was then called in question by the Honourable House of Commons, some of our Woolen Manufactures fit for that Trade rose instantly Fifty per Cent to his certain knowledge, occasioned by the Multitudes of Buyers, whereof he was one; and indeed it is not to be wondered at, for whilst that Company was in power many of the English Interlopers were forced to fit in Holland, where they also furnished their Cargoes, it being thought cause sufficient to stop a Ship here if any part of the Goods entered out gave Suspicion she was bound for the Coast of Guinea, which would have made a Stander-by to have thought that the Dutch had given Pensions in that Court as well as the French.
It is not to be doubted but that the Vendding our Product and Manufactures and promoting our Navigation on advantageous terms is the true Interest of this Nation, and all Foreign Commerce as it advances either is more or less profitable, now the Confinement of the African Trade to a limited Stock promotes the ends of neither, and I believe 'tis one reason why we know so little of that large Continent, because the Company finding ways enough to employ their Fund among those few Factories they had setled on the Sea Coast never endeavoured a farther Inland Discovery, whereas if it was laid open, the busie Merchant that Industrious Bee of the Nation would not leave one River or Creek untraded to, from whence he might hope to make Advantage.
It's to Trade and Commerce we are beholding for what Knowledge we have of Foreign Parts, and it is observable that the more remote People dwell from the Sea the less they are acquainted with Affairs abroad; Africa is a large Country, and doubtless the Trade to it might be much enlarged to our Advantage, and better Settlements made and secured if good Methods were taken; Use and Experience make us at last Masters of every thing; and tho' the first Undertakers of a Design fall short of answering their private Ends, yet they may not the Ends of the Nation, by laying open a beaten Path for Posterity to tread in with Success where they miscarry'd; when all places in England may freely send Ships, and be permitted to the management of their own Affairs, this encourages Industry, and sets Peoples Heads at work how they may outdo each other by getting first into a new Place of Trade; besides, the more Traders the more Buyers at Home and Sellers Abroad, and by this means our Plantations on that large Continent of America would be better furnished with Negroes, for want of which the Inhabitants there could never arrive to those Improvements they have done in the Islands, the Company having given them little or no Supply, who rather chose to send them to the latter, because they were able to make better Pay; But the Interlopers have done it, tho' under great discouragements from the Company and their Factors, who like the Dog in the Fable, would neither supply those Plantations themselves, nor suffer others to do it.
As for the other Commodities brought in Returns from Africa, Wax and Teeth, one serves for a Foreign Trade without lessening the Expence of our own Product, the other imploys our Manufacturers at home, and is afterwards Exported to other Markets; and as for the Gold brought thence, I need not mention how much it doth advance our Wealth, all agree it to be a good Barter.
On the whole I take the African Trade both for its Exports and Imports, and also as it supplies our Plantations, and advances Navigation, to be very beneficial to this Kingdom, and would be made much more so, and better secured, were it laid open by being formed into a Regulated Company.
Maderas.The next thing we will enter on is the Trade driven to Maderas; and here tho' I must confess I am in my own Judgment no Friend to Monopolies, and have not yet seen any reason to alter my Opinion, yet as that destructive Element of Fire may and often is used to Advantage in its proper place, and Poyson with Correction makes good Physick, so the ends of a Monopoly being truly answered, it may sometimes be very serviceable, such as are the vending our own Manufactures at good Rates in Foreign Markets, whilst for them we receive in Barter the Product of another Nation at reasonable Prices; And this effect cannot be produced by incorporating any Trade into a joynt stock so naturally as that of Maderas, where by the late ill management of our Factors things are come to such a Pass, that nothing less than this can recover it into a good Method, the Inhabitants of that Island by the others Imprudence have gotten so much Advantage of us that they take off little of our Woollen Manufactures, whilst on the other side we buy their Wines for Money, which heretofore we purchased in Truck; a Commodity loaden off thence chiefly by the English Nation, for the Dutch ship little, the French less, the remainer (except what is spent on the Island, or sent to Brazile) is drank in our Plantations; and yet we are treated by them, not as though they depended on us, but rather as if they thought we could not live without their Wines, prohibiting sometimes one part sometimes another of our Manufactures, instead whereof they supply themselves from Lisbon, with things tho' not so good, yet such as they content themselves with to promote Manufactures of their own, so wise are other Nations to choose rather to wear what is made amongst themselves than what is brought by Strangers, tho' better in its kind; whilst we preferr any thing that comes from abroad, only because it does so.
But then great care must be taken that the Profit of this Monopoly doth redound to the Nation, and not only to the enriching private Persons, and that it be continued no longer than it appears to be for the public Good, and a fair Account must be given that the quantity of Manufactures carried hence do in some measure equalize the Wines loaden thence, also that the Plantations abroad be supply'd at reasonable Rates; By this means the English being the only Buyers, and they having put the Trade into one Hand, may sell their Manufactures for better Prices, and set the Rates of the others Wines, and consequently afford them cheaper in our Islands; Thus whereas those two Monopolies of the East-India and African Companies prey only on their fellow-Subjects, this would make its Profits on a Foreign People; besides it would as it were create a new Market in a place where our Manufactures are almost disused.
I confess could it be done any other way I should not advise this, but I know none, unless those Wines were for some time prohibited to be carry'd to the Plantations, which would be very inconvenient for the Inhabitants, who cannot well subsist without them; the heat of the Climate spends Nature apace, which must be supported, and nothing hath been found so agreeable to their Constitutions as the Wines brought from that Island.