The French

We may freely import their good Claret, and have it upon reasonable terms, if we do not buy it in too great Quantities: And as for their Manufactures, 'tis undeniable we had better be without them, fince they must be purchased with our ready Money; for their Cloth and other Woollen Goods being cheaper than ours, they cannot take any from us if they would in compenfation for their Silks, Paper, and Linen: and as they take nothing but what they want, they ought not in reafon to expect we fhould take from them what we have no manner of occafion for.

As it is very requifite that those who are to deal with another Nation fhould have a perfect knowledge of their Weights, Measures, Customs and Moneys, and there having been a remarkable. Alteration in the French Coins fince we had any Dealings with them, which is the thing of the utmost moment in Commerce; I fhall beg leave to fubjoin here an Account of their Coin as it ftands at prefent, and in all probability is like to ftand, that we may know what we are to pay for their Goods, and what they are to pay for ours.

The French Crown-Piece is exactly now Coin com- of the fame Goodness and intrinfick Value par'd with as the English Crown-Piece. It goes in France for five Livres, and each Livre for

ours.

twenty

twenty Sols; fo that each Crown-Piece goes there for one hundred Sols or Pence. Our Crown-Piece goes for five Shillings, each Shilling for twelve Pence, fo that our Crown-Piece goes here for fixty

Pence.

As there are five Livres in their Crown, and five Shillings in our Crown, and that they are both of equal Weight and Value, a Shilling is exactly worth a Livre, and a Livre a Shilling. I beg pardon for being thus exact to a Nicety in this Particular, but I think the Fate of Great Britain in point of Trade doth in great measure depend upon it.

Before the War, if I bought any Commodity in France which coft me a Livre, I paid eighteen Pence English for it, as is well known to every body that had Dealings there if I buy now the fame thing in France for a Livre, I pay but one Shilling for it; by which means all their Manufac tures are render'd fo very cheap to us, that if there were but moderate Duties upon their Importation, we fhould immediately be overwhelm'd with French Commodities. For as their Workmen receive no more Sols or Pence for their Day's Work or Wages than they did formerly, they fell their Cloth, Paper, and Linen, for no more Sols than they used to do. Therefore if I bought heretofore an Ell of Linen for a Livre, it coft me then eighteen Pence; C 2

and

and now buying an Ell of the fame Linen for a Livre ftill, it cofts me but one Shilling.

On the contrary, when the French bought any thing of us before the War, if it coft them one Pound Sterling, they paid but thirteen Livres for it; and if they buy now the fame thing for one Pound Sterling, they pay twenty Livres. Which renders every Commodity we have fo very dear to them, that 'tis hardly poffible they fhould take any thing from us but what they have an abfolute neceffity for.

For if they bought formerly a Yard of Cloth here for fifteen Shillings, they paid but nine Livres three Quarters for it; and if they buy now here a Yard of the same Cloth for fifteen Shillings, they must pay fifteen Livres; which, as faid before, renders our Manufactures exceffive dear to them, and their Manufactures exceeding cheap to us.

In fhort, all kinds of French Manufactures that were heretofore purchased in France, either by Natives or Strangers, for one Ounce and a half of Silver, the fame quantity and goodness is there purchafed now by Natives and by Strangers for one Ounce of Silver. And whatever the French ufed to purchase in foreign Parts with three Livres, they must now give four Livres and an half for it.

I

I have purposely omitted taking notice of what Prejudice the French Trade may be to us in relation to our Exports to Portugal, Italy, Turky, and Hamburg; for that will afford ample matter to add to the Subject of the following Discourse.

But for the Reader's ease, I fhall first fum up what has been faid as fhort as poffible, in the following Propofitions.

1. That the Profperity and Happiness of this Kingdom depend very much upon our foreign Trade.

2. That we have no Gold or Silver of our own growth; that all we have is imported from abroad, in exchange for the Product and Manufactures of our own Country.

3. That we gain Gold and Silver from thofe Countries which do not fell us fo great a value of Manufactures as they take from us; for in this cafe the Balance muft be paid in Money.

4. That we must pay a Balance in Money to fuch Countries as fell more Manufactures than they take from us; and that the capital Stock of Bullion is diminished by fuch a Commerce, unless the Goods we import from an over-balancing Country fhall be re-exported.

5. That we are most enriched by those Countries which pay us the greatest Sums upon the Balance; and most impoverish'd

by those which carry off the greatest Balance from us.

6. That the Trade of that Country which contributes moft to the Employment and Subfiftence of our People, and to the Improvement of our Lands, is the most valuable.

7. That the Trade which leffens most the Subfiftence of our People, and the Value of our Lands, is the moft detrimental to the Nation.

8. That that Country which does not fell us fo many Manufactures as it buys from us, contributes the whole value of the Balance to the Employment and Subfiftence of our People, and to the Product of our Lands.

9. That the Country which fells us more than it buys from us, takes the whole value of the Balance from the Subfiftence of our People and the landed Interest.

10. That therefore the Balance which is either paid or received by means of our Trade with any particular Country, is one certain Medium to judge of the value of our Trade: that is, every particular Trade contributes fo much to the Subfiftence of our People and the Improvement of our Lands, as the Balance it pays to us for the greater quantity of Manufactures we fell than buy; and it deducts fo much from both for the greater quantity of Manufac

tures