Money and trade considered : $b With a proposal for supplying the nation with moneyLaw, John
General
Money and trade considered : $b With a proposal for supplying the nation with money
Law, John
Banks and banking -- Scotland; Currency question -- Great Britain
Yet they have so improv’d their few advantages, that they are become
a rich and powerful people. what has contributed to their riches and
power, was the early protection and favour the government gave to
trade; the liberty which was given to people of different religions;
the freedom of trade allowed to strangers; the example of their rulers
in oeconomy; but chiefly the neglect of trade in other countries,
particularly in Spain, who forced the people and trade of Flanders to
Holland.
Scotland has by nature many advantages for trade; a large territory;
of easie defence; plenty of people; a wholsome air; mines; a proper
situation for the eastern and western trades; near the bulky trade; a
safe coast; rivers of easie entry; the seas and rivers stockt with fish.
But numbers of people, the greatest riches of other nations, are
a burden to us; the land is not improv’d, the product is not
manufactur’d; the fishing and other advantages for foreign trade are
neglected: and the reason generally given is, that laziness and want of
honesty are natural to us.
If want of honesty and laziness were natural, they would be so to
mankind; or if peculiar to a people, this would be so to the Dutch
rather than to us: the air of Holland is grosser which inclines to
laziness; and the country not producing wherewith to maintain the
inhabitants, would force them to rob or cheat their neighbours, or
one another. but it is more reasonable to think laziness and want
of honesty are vices, the consequences of poverty; and poverty the
consequence of a faulty administration. if the same measures had been
taken in Scotland for encouraging trade, as was taken in Holland, we
had been a more powerful and richer nation than Holland. if Spain,
France and Britain, or any one of them had apply’d to trade, as early,
and upon the same measures Holland did; Holland would not have been
inhabited. but by their early application, and the wrong measures of
other countries, they have got such great magazines of what’s necessary
for their maintenance and defence; of rich commodities to sell to other
nations, of materials for shipping, &c. and such a quantity of silver,
esteem’d above its value as a metal by being used as money: that in
all appearance so long as silver is used as money, the great quantity
they have of it, with their great oeconomy, enabling them to under-sell
other nations; they will maintain the rank they hold in trade, and
consequently in power; notwithstanding their natural disadvantages, the
present application, and natural advantages of other nations.
Public-domain text, read in full here on John Shaqi.
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