A Discourse on Trade, and Other Matters Relative to itCary, John
History
A Discourse on Trade, and Other Matters Relative to it
Cary, John
Great Britain -- Commerce -- Early works to 1800; Great Britain -- Commercial policy -- Early works to 1800
I shall begin with the _East-India_ Trade, which I take to be very
prejudical to us, as ’tis now driven; because it exports our Bullion,
spends little of our Product or Manufactures, and brings in Commodities
perfectly manufactured, which hinder the Consumption of our own, and
discourage the wearing such as are purchased with them; the chief Profit
thereof arising from Underselling the Labour of our Poor, because ’tis
bought there cheaper, than by reason of the Value of our Lands, and the
prices of Provisions, they are able to work here. But having spoken fully
of this in a former Discourse, and the Parliament having since been
pleased, by an Act made in the 10th and 11th Years of his late Majesty
King _William_, to prohibit the wearing of wrought Silks, Bengals, Stuffs
mixt with Silk or Herba, of the Manufacture of _Persia_, _China_, and
_India_, and all Callicoes painted, dy’d, printed or stained there. The
Reason of which, is in the said Act set forth to be, The great Detriment
the Nation received as the Trade was then managed, by exhausting the
Treasure thereof, and taking away the Labour of the People, whereby very
many of the Manufacturers were become excessively burthensome and
chargeable to their respective Parishes, and others compelled to seek for
Employment in foreign Parts, I shall not now repeat what I then wrote,
but will consider how far the Remedy they then provided hath answered the
End.
The making this Law, gave a new Life to our Manufactures, and would have
given more, if the true Intent of the Parliament had been answered: But
we have since found that it has not; for it neither keeps our Treasure at
home, nor prevents those Commodities from being worn here, which they
design’d it should; and I very much question, whether any thing less
than a total Prohibition of their Importation will do it; for though they
are directed to be exported again, yet there is great Reason to believe,
that they are privately brought back, both from _Ireland_, our
Plantations, and other Places to which they are sent, to the Loss of his
Majesty’s Customs, and the Prejudice of the Stainers and Painters her,
besides the Injury to our Manufactures: Otherwise, how come such great
Quantities to be worn and used here, when the Stock in hand hath been so
long since spent?
There are other Commodities, which the Company may trade in, and the
Tract of Land within their Charter is large enough to afford an
advantagious Commerce there, the Profits whereof might be returned
hither, in things no way injurious to our Manufactures, such as Raw-Silk,
Indigo, Pepper, Salt-Peter, Spices, Drugs, China-Wares, Coffee, Tea, and
many other Things, if they were industrious to make Discoveries, as
private Merchants would do, if the Trade lay open; and I believe it will
not be disputed, that great Quantities of Raw-Silk, have been brought
thence since the Making of that Law, than were used to be done before.
Public-domain text, read in full here on John Shaqi.
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