What then appears to me to be the result of this fatal interest of two millions due annually to Holland?—That the latter is essentially interested, not in an increase of the power of England, who might make a bad use of it; not in an increase of specie in England, which, by lowering its value, must compel her to return that of the Dutch, already so much disparaged in their country; but to a further extension of the English trade, or rather of the general commerce, which can alone, by advancing constantly, and every where, the quantity and price of the objects that are to circulate, increase in the same proportion the necessity of the instruments indispensable to every kind of circulation and undertaking, and keep up in every part, for the interest of Spain and Portugal, as well as for that of Holland, the value of the sign intended for a general representation, which Holland in her proportion will ever have in greater plenty than all other nations, thanks to the narrow limits of her territories, and to the manners of her inhabitants, which, in all probability, are the consequence of that limitation.
Balance of France with England.
Of all the balances of England summed up by Sir Charles Whitworth, that which is most to be wondered at every where but in Japan and China, where foreign trade is but poorly encouraged, is the balance between England and France, these two nations being parted, as they are, only by a simple brook.
The wonder cannot but increase, if we consider with what eagerness those two countries are intent upon improving their trade.
The wonder will still increase, when it is observed, that the French carry to the highest pitch their rage for English modes, whilst the English experience the same kind of frenzy for French fashions.
The wonder must increase still further, when it is observed, that the same nations, in possession of the most active and most intelligent industry, are also possessed of all the cash necessary to give an additional activity to that industry, which might be required to carry on a branch of trade, as it were, at their door, but which is neglected, out of regard for old and absurd prejudices.
Still must the wonder increase, if it is observed, that a first capital of 200,000l. laid out in that trade by the two nations, would occasion in both, more work in cultivation, as well as in the arts, than 600,000l. which each of them might employ in a trade to China, if it were possible to lay out such a sum upon it?
The wonder will be still greater, when we consider that, by favouring, with equal care, the imports and exports to and from one country into the other, the two nations would, without the least inconvenience, acquire the means of increasing the revenue of their customs respectively, according to their wants, by agreeing mutually upon a tarif, which would be rated upon the average of those wants; a tarif, which the rest of Europe might adapt to its circumstances, if it were the general intention to increase, every where, the revenue of the State and the industry of the people, in a like proportion.
This is certainly what the two nations might have compassed. That which follows, is what they have done.