The greatest project, by which any nation ever endeavoured to enrich itself, was certainly that of peopling America with a civilized race of inhabitants. It was a fair and legitimate mode of extending her means of acquiring riches; but Britain failed in the manner of obtaining her object, though not in the object itself, and
---
{205} By this is not literally meant, that the trade every year is greater than the preceding, but that it continues to increase.
-=-
[end of page #267]
the United States promise to support the industry of England, now that it has humbled its ambition, far more than both the Indies, which gratify it so much.
It is highly probable, that America will increase more rapidly in wealth and population than in manufactures, such as she at present takes from great Britain; but if the ratio merely continues the same that it is now, the purpose will be completely answered, and a market for British manufactures insured for ages to come. In 1802, by the last census, the inhabitants of the United States amounted to about eight millions; and, for several years together, the exports of British goods have amounted to seven millions, so that it is fair to reckon a consumption equal to sixteen shillings a year to each person. It was about the same in 1774, previous to the revolt; and, as the population doubles in about fifteen years, in the course of thirty years more, the exports to that country alone would amount to 24,000,000 L. provided we continue to be able to sell at such rates as not to be undersold by others =sic= nations in the American market.
There is nothing great, nothing brilliant, in this commerce, all is solid and good; it is a connection founded on mutual wants and mutual conveniencey, not on monopoly, restriction, or coercion; for that reason it will be the more durable, and ought to be the more valued; but it is not. Governments, like individuals, are most attached to what is dear to purchase and difficult to keep. It is to be hoped, however, that this matter will be seen in its true light.
One circumstance, that makes the matter still more favourable for Britain is, that the western country of America, by far the most fertile, as well as the most extensive, is now peopling very rapidly. The labour and capital of the inhabitants are entirely turned to agriculture and not to manufactures, and will be so for a great number of years; for, when there are fifty millions of inhabitants in the United States, their population will not amount to one-half of what may naturally be expected, or sufficient to occupy the lands. The fertility of the soil will enable the Americans, with great ease to themselves, to make returns in produce wanted in Europe, so that we may expect a durable, a great, and an advantageous trade with them. In British [end of page #268] manufactures our trade was not near so great before the revolt, for we then supplied America with every article.
This, however, will depend partly on our circumstances; for, if wages and the prices of our manufactures rise, as they lately have done, our merchants will buy upon the continent of Europe, what they otherwise would purchase in England, to supply the American market.