An Essay Towards Regulating the Trade, and Employing the Poor of This Kingdom: Whereunto is Added, an Essay Towards Paying Off the Publick DebtsCary, John
History
An Essay Towards Regulating the Trade, and Employing the Poor of This Kingdom: Whereunto is Added, an Essay Towards Paying Off the Publick Debts
Cary, John
Great Britain -- Commercial policy; Great Britain -- Economic conditions -- 18th century; Poor -- Great Britain
To begin with the _French_ Trade; in the 22d _Car._ II. a new Import
was laid on Wines, _viz._ Eight Pounds _per_ Tun on the _French_, and
Twelve Pounds _per_ Tun on _Spanish_ and _Portuguese_; This
Difference (with the low Subsidies put on their Linnens by former
Acts, in respect to those of other Places) was a great Means of
bringing the Ballance of That Trade so much against us, that the
Parliament in the 7th and 8th of _Gul._ III. thought fit to make an
Act, (and is continued by this present Parliament for a longer time)
which in Effect prohibited all Trade with that Nation for One and
Twenty Years, by laying a great Duty on the Importations thence, in
order to prevent a Correspondence, till the Trade should be better
regulated.
In the 14th _Car._ II. Logwood was permitted by Act of Parliament to
be imported, paying Five Pounds _per_ Tun Duty; The same Act repeals
two Statutes of Queen _Elizabeth_ against Importing and Using it in
Dying here, and sets forth the Ingenuity of our Dyers, in finding out
ways to fix the Colours made with it; and yet at the same time gave a
Draw-back of Three Pounds Fifteen Shillings _per_ Tun on all that
should be Exported, whereby Foreigners use it so much cheaper in
their Manufactures than ours can here; which proceeded from a too
hasty making that Law, and being advised, or rather abused, by those,
who regarded more their own Interest, then That of the Nation.
By an Act made 1 _Ja._ II. an Impost of Two Shillings and Four Pence
_per Ct._ was laid on Muscovado Sugars imported from the Plantations,
to be drawn back at Exportation; the Traders to the Plantations
stir’d in this Matter, and set forth, That such a Duty would
discourage the Refining them here, by hindering the Exportation of
Refined Sugars, which was then considerable, and carry that
Manufacture to _Holland_ and _Flanders_; But the Commissioners of the
Customs prevailed against them, and the Bill past; the Fatal
Consequences whereof soon appear’d, for the Exporters of Muscavado
Sugars, drawing back Two Shillings and Four Pence _per Cent._ by that
Act, and nine Pence _per Cent._ by the Act of Tunnage and Poundage,
Foreign Markets were supply’d with Refined Sugars from other places
cheaper, by about Twelve _per Cent_, than we could furnish them
hence, by which means we were beat out of that Trade; And tho’ the
Duty of Two Shillings and Four Pence _per Ct._ was not continued on
the Expiration of That Act by the Parliament 2d W. and M. (as they
did the Threepence _per_ Pound on Tobacco) the bad Effects thereof
being then apparent, yet ’tis difficult to retrieve a Lost Trade,
Trading Nations being like Expert Generals, who make Advantages of
the Mistakes of each other, and take care to hold what they get.
Public-domain text, read in full here on John Shaqi.
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