Critical, Historical, and Miscellaneous Essays; Vol. 6: With a Memoir and IndexMacaulay, Thomas Babington Macaulay, Baron
History
Critical, Historical, and Miscellaneous Essays; Vol. 6: With a Memoir and Index
Macaulay, Thomas Babington Macaulay, Baron
English literature -- History and criticism; Great Britain -- History
Let us count our gains. Let us bring to the test the lofty phrases
{323}of Colonial declamation. The West Indies, we are told, are a source
of vast wealth and revenue to the country. They are a nursery of
seamen. They take great quantities of our manufactures. They add to
our political importance. They are useful posts in time of war. These
absurdities have been repeated, till they have begun to impose upon the
impostors who invented them. Let us examine them briefly.
Our commercial connexion with the West Indies is simply this. We buy our
sugar from them at a higher price than is given for it in any other part
of the world. The surplus they export to the Continent, where the price
is lower; and we pay them the difference out of our own pockets. Our
trade with the West Indies is saddled with almost all the expense
of their civil and military establishments, and with a bounty of
1,200,000l. Let these be deducted from the profits of which we hear so
much, and their amount will shrink indeed. Let us then deduct from the
residue the advantages which we relinquish in order to obtain it,--that
is to say, the profits of a free sugar trade all over the world; and
then we shall be able to estimate the boasted gains of a connexion to
which we have sacrificed the Negroes in one hemisphere, and the Hindoos
in the other.
But the West Indians take great quantities of our manufactures! They
can take only a return for the commodities which they send us. And from
whatever country we may import the same commodities, to that country
must we send out the same returns. What is it that now limits the
demands of our Eastern empire? Absolutely nothing but the want of
an adequate return. From that immense market--from the custom of one
hundred millions of consumers, our manufacturers are in a great measure
excluded, by the protecting duties on East Indian sugar.
But a great revenue is derived from the West Indian trade! Here, again,
we have the same fallacy. As long as the present quantity of sugar is
imported into England, no matter from what country, the revenue will
not suffer; and, in proportion as the price of sugar is diminished, the
consumption, and, consequently, the revenue, must increase. But the
West Indian trade affords extensive employment to British shipping and
seamen! Why more than any equally extensive trade with any other part of
the world? The more {324}active our trade, the more demand there will
be for shipping and seamen; and every one who has learnt the alphabet of
Political Economy, knows that trade is active, in proportion only as it
is free.
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