(54.) _British Trade in 1699._--In 1699 there were 12,000,000 sheep and lambs in Britain, and the yearly increase was supposed to be about 3,600,000. The value of each sheep, besides the skin, was 7s. 4d. The stock was valued at £4,400,000. The value of the wool yearly shorn, at 3s. 4d. per fleece, came to about £2,000,000. The woollens manufactured in Britain amounted in value to £5,000,000 per annum, while our yearly exports of the same were valued at £2,000,000. Many were at that time afraid of the sinking of the woollen manufacture, because the accounts of the fine draperies exported were larger than usual; but, says an anonymous essayist of the period, "such do not contemplate, that, though the old may be lessened, what is commonly called the new draperies have increased, consisting in bays, serges, and stuffs. So that upon the whole, infinitely more of the material of wool has of late years been wrought up for foreign use, than in former times; and herein our merchants have been only forced to follow the modes and humours of those people with whom they deal, and the course they have pursued has hitherto not been detrimental to the public." * * * "'Twere better, indeed, that the call from abroad were only for the fine draperies, because then we should be in a manner without a rival; no country, but England, and Ireland, having a sward or turf that will rear sheep, producing the wool of which most of our draperies are made. 'Tis true the wool of Spain is fine above all others; but 'tis the wear only of the richer sort, and of Spanish cloths not above nine thousand pieces are sent abroad, one year with another." (55.) _British Woollens rivalled by those of Sweden._--Before the peace of Utrecht in 1713, we had no rival in the woollen trade but the Dutch, over whom we had many natural advantages, such as situation, goodness of our ports, and excellence of the principal constituents of the manufacture. They were obliged to furnish themselves with the materials at second-hand. When the trade in woollens was properly set a-foot in England, during the long and happy reign of Elizabeth, the interest of money was pretty much the same in both countries; but the Dutch were engaged in a hazardous and bloody war, and in establishing their Commonwealth, and East India trade; and, therefore, had not much time to think of improving any manufacture. Owing to these circumstances, we came into possession of all the principal marts for woollens, both in Asia and Europe, and retained them till the beginning of the war with France and Spain; we then prohibited trade with both these countries.