All Trade had a beginning, occasioned by some lucky Accident which put People on new Projects, and why England which hath so many Plantations depending on it should suspect a consumption for its Cattle I cannot imagine; we might then set the Rates of Provisions there, and the Merchants afford to give better Prices for them here, when they shall load them at Home, and save the Charges of going to Ireland, without fear of having their early Markets forestall'd thence; and the Planters being now grown rich are likewise able to give greater Rates for them than they could at their first Settlement; England had never a fairer Opportunity of making an Entry on this Trade than now it hath, which would soon consume great Numbers of Cattle, and consequently give Encouragement to our Breeding Countrys as well as the Feeding.
But if a Manufactury is thought fit for Ireland, and its Circumstances will admit thereof, let that of Linnen be encouraged, this may draw over Multitudes of French Refuges, and put them upon an Imployment wherewith they were formerly acquainted, which we must assist by the benefit of Importation Custom free, and the Advantage of Fashion; and then these two Kingdoms encouraging different Manufactures will be serviceable to each other, for which Stocks would not be wanting even from the People of England, who would delight to see Ireland thrive when their Manufactures crost not ours; This would in time alter the Ballance of our Trade with France, when we shall send thither more Woollen, and receive thence less Linnen.
If the wisdom of the Parliament shall think fit by these or any other Methods to make Ireland more serviceable to the Trade of England it will advance both the Lands and Traffick of this Kingdom, and so make us all better able to pay the Charge of this long and expensive War.
Scotland.I shall next say something to the Trade of Scotland, which hath formerly consumed more of our Woollen Manufactures than now it doth, since that Nation is fallen on making them there, which they do out of their own Wool, with the help of what they get from us, also of Spanish, both from hence and from Holland.
But their chief Manufactures are Linnen, Butter, and Herrings; 'twere to be wish'd the former was more encouraged by this Government, with Liberty to bring it hither Custom free, provided they would send us also their Wool, and then our Manufactures would not justle with each other; King James the II. limited their Trade to his Pleasure by Act of Parliament, which I take to be a great reason why that People were so much at his Devotion, but the Liberty of a free Trade was made one of the Terms whereon his present Majesty received the Crown, who hath since given them Encouragement to settle Plantations abroad, such as they shall either plant, or buy from Foreign Princes, which he hath promised to enfranchise with the same Rights and Priviledges he doth grant in like Cases to the Subjects of his other Dominions.
They have also fallen lately on the thoughts of Codd-Fishing, whereof they have great shoals about their Coasts, which formerly they used to pickle and send away in Casks, but now intend to cure after the manner 'tis done in Newfoundland.
And doubtless these three things would much encourage Trade had they Stocks to manage them, but those they want; I have heard it discours'd that the Cash of that Kingdom amounted to One Million of Pounds Sterling, but I scarce believe it does to One Half, perhaps not one Third which properly belongs to its Inhabitants; therefore they propose to carry on the Woollen Manufactures Plantations and Fishery by English Stocks, the two last by Companies, which will consist chiefly of Londoners, who first promoted the Designs, and will furnish Monies for managing them; Now I cannot think any Nation can settle Plantations abroad to advantage which wants Stock and Manufactures of its own to supply them, the great Profit of Plantations being to encourage Manufactures at Home, and the means to settle them is by giving long Credits to the Planters abroad, and when this is done by Money taken up at Interest from another Nation the whole Profit will redound to the Lenders, so that the Scotch may make Settlements abroad, but if neither the Stock nor Manufactures are their own, they will have only the name of being Proprietors whilst others carry away the Profits, like a Gentleman who pays as much for Interest yearly as the Rents of his Lands bring in, he may have the Possession, but the Userer has the Income of his Estate; so for their Fishing, which being managed on English Stocks will bring them only so much as shall pay for the labour of those imployed about it; The same for their Woollen Manufactures.
On the other side if the Trade to these Plantations is driven by an English Corporation, the Scotch indeed will get Imployments for their Saylors, but all the Product will be other Men's, who will take care for their own advantage to keep the Planters poor abroad, and the Inhabitants from inspecting into it at home.
Besides, that Kingdom being now supplied from England with West-India Commodities at cheaper Rates than they can expect to raise them, will want vent for their new Product when brought Home, unless absolutely prohibited to be imported thither from hence, which will be a new Tax on the Spender, paid only to a Foreign Monopoly; neither can they Export them to sell on equal Terms with the English; so that on the whole I cannot see what advantage the Scotch can make at this time of day by setling Plantations, which if they do attempt, we must besure to take care of Ireland, and by reducing it to the terms of a Colony prevent their selling the Product there, which I am apt to think is the main thing they aim at.
Canarys.The Canary Trade brings us nothing but what we consume, and takes from us little of our Product or Manufactures, we chiefly purchase those Wines for Money therefore if it was reduced to the same Terms I have proposed for Maderas it would do very well: By this means we should at least buy Wines cheaper there, and then their Prices must be limited at Home, both on the Importer and Retailer; 'twill be convenient to regulate this Trade, but not to discourage it, for since we must drink Wines, 'twere better we had them from the Spaniard than the French, the first takes off much of our Manufactures, the other little, and tho' perhaps the Canary Islands may not, yet I am apt to think those Wines are paid for out of what we send to the Continent of Spain.