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 come now to discourse of _Ireland_, and of the Trade we interchangeably
drive with that Kingdom, with whom it is necessary to maintain a good
Correspondence, which must be done on such Terms, as may be profitable to
us both; and I think nothing is more likely to answer this End, than the
encouraging the Linnen Manufacture there, which it is highly our Interest
to promote, and theirs to set upon, being for the most Part of another
Nature, than what is made either in the _North_ or _South-Britain_; for,
besides the Employment it will give to the Poor, large Tracts of Land
will be taken up for raising Hemp and Flax, both which thrive well in
many Parts of that Kingdom; on the other Hand, the low Labour of
_Ireland_ being employed on that Manufacture, will no way prejudice ours,
but make them better able to trade with us, for such things wherewith
they are supplied hence, it being undoubtedly the Interest of this
Kingdom, that all those Nations we trade with should grow rich, by any
Methods that do not make us Poor; and more-especially _Ireland_, whose
Profits are generally spent here.
But then, how shall this Manufacture be carried on? Truly, the first Step
must be, by furnishing Money on reasonable Interest, and receiving it
again by such Payments as the Borrowers can make, and buying up the
Linnens when made, and then the landed Men will encourage it, on their
own Estates, and thereby enable their Tenants to pay their Rents better;
which last Effect it hath already had in the North of _Ireland_, where by
spinning the Yarn in the Winter Nights, and getting their Cloth ready,
and fit for Sale, early in the Year, they provide for their _May_ Rents,
without being constrained to sell their Cattle whilst they are lean, and
their _November_ Payments do not become due, till they are fat, and their
Harvest is over.
Now these Loans must be made, either by a Joint-Stock raised for that
Purpose, of by the Bank of _England_, which will be attended with good
Security; for by reason of the Register settled there by Act of
Parliament, I take the Securities of _Ireland_, to be rather better than
those in _England_: and this way of lending Money, must likewise be very
acceptable to all those whose Estates are under different Incumbrances,
which may by this means be reduced into one, and paid off, as they can
spare the Money by degrees.
Public-domain text, read in full here on John Shaqi.
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