The seal of the office of draw-back ought to be apply’d to these goods that receive the draw-back; and these intrusted with the draw-back, should give security to pay the price of such goods, with all charges, if found insufficient.
When manufacture and trade prospers, the landed man’s rent is well payed, and increases: when they decay, his rent is ill pay’d, and decreases. a draw-back is so effectual a way to encourage and promote manufacture and trade; that it were the landed men’s interest to tax themselves, rather than a draw-back should not be given, where it is necessary.
A draw-back is more necessary here than in other countries, for we do not manufacture so well as other nations: we are not able to sell for the same profit, our stocks being much smaller; and the goods of other nations will be preferr’d to ours, because our goods are suspected.
Some object that this proposal is new, and has not been practis’d in any nation.
The example of another nation ought not to determine us, to follow the same measures, without examining whether that nation was the better or the worse by such measures; and whether our circumstances and theirs don’t differ so, as to make that hurtful or ineffectual to us, which was of advantage to them. on the other hand, it is no argument against any thing propos’d for the general good, to say it is new, and what has not been practis’d.
When any thing propos’d has been already practis’d by other nations, ’tis a presumption in favours of such a proposal; and it’s a presumption against it, if it has been refused: but a wise nation ought not to be determined by example, to follow or refuse without examining.
This proposal has not been refus’d. the essential part is now practis’d in France, for paper is current by law: and tho’ after a manner that in all appearance ought to have hindred its currency, yet I’m inform’d foreign bills are bought with paper money, the same as with silver or gold.
The example of nations in relation to money would be a very uncertain rule. for as has been said page 70, opposite measures have been us’d in some countries to what have been used in others, and contrary measures have been used in the same countries to what was used immediately before, not because of any difference in their circumstances, but from the opinion, that since the method used had not the effect design’d, a contrary would; and there are good reasons to think that the nature of money is not yet rightly understood.
Any other objections that I have yet heard against this proposal, are such as may be fully answered, and so far as I can see into it, with all the application I have been capable of, I cannot find any objection but what may be fully answer’d; nor any difficulty in the execution, but what may be removed: if there is any fallacy in the positions I lay down, or any wrong consequences drawn from these positions, I have not been able to discover them.