To America we still send our home manufactures of almost every kind; and make our returns in tobacco, sugars, rice, ginger, indigo, drugs, logwood, timber, etc.
To the coast of Guinea we send various sorts of coarse woollen and linen goods, iron, pewter, brass, and hardware manufactures, lead-shot, swords, knives, firearms, gunpowder, glass manufactures, etc.; and bring home vast numbers of negro slaves, and gold dust, dyeing and medicinal drugs, redwood, Guinea grains, ivory, etc.
To Arabia, Persia, East Indies, and China we send much foreign silver coin and bullion, manufactures of lead, iron, and brass, woollen goods, etc.; and bring home muslins, and cottons of various kinds, calicoes, raw and wrought silk, chintz, teas, porcelain, coffee, gold-dust, saltpetre, and many drugs for dyer's and medicinal uses. These are exclusive of our trade to Ireland, Newfoundland, West Indies, and many other of our settlements and factories in different parts of the world, which likewise contribute an immense annual return.
Our trade to the East Indies certainly contributes one of the most stupendous political as well as commercial machines that is to be met with in history. The trade itself is exclusive, and lodged in a company which has a temporary monopoly of it, in consideration of money advanced to the Government. Without entering into the history of the East India trade, within these twenty years past, and the Company's concerns in that country, it is sufficient to say, that, besides their settlements on the coast of India, which they enjoy under certain restrictions by Act of Parliament, they have, through the various internal revolutions which have happened in Indostan, and the ambition or avarice of their servants and officers, acquired such territorial possessions as render them the most formidable commercial republic (for so it may be called in its present situation) that has been known in the world since the demolition of Carthage. Their revenues are only known, and that but imperfectly, to the Directors of the Company, who are chosen by the proprietors of the stock; but it has been publicly affirmed that they amount annually to above three millions and a half sterling. The expenses of the Company in forts, fleets, and armies, for maintaining those acquisitions, are certainly very great; but after these are defrayed the Company not only cleared a vast sum but was able to pay to the Government £400,000 yearly for a certain time, partly by way of indemnification for the expenses of the public in protecting the Company, and partly as a tacit tribute for those possessions that are territorial and not commercial. This republic, therefore, cannot be said to be independent, and it is hard to say what form it may take when the term of its charter is expired, which will be in the year 1794. At present it appears to be the intention of Government that its exclusive commercial privileges shall then finally cease, and no new charter be granted.
BILLING AND SONS, LTD., PRINTERS, GUILDFORD.
TRANSCRIBER'S NOTES
- Silently corrected simple spelling, grammar, and typographical errors.
- Retained anachronistic and non-standard spellings as printed.