Columbia 
 
 library 
 
 xptop; 
 
 THE SELIGMAN LIBRARY OF ECONOMICS 
 
 PURCHASED 
 
 UNIVERSITY 
 
COMMERCIAL CONDUCT 
 
 O F T H E 
 
 UNITED STATES 
 
 .. 0 F 
 
 CONSIDERED,, 
 
 .AND 
 
 The TRUE I N T E R E S T thereof; 
 
 ATTEMPTED TO EE SHEWN BY 
 
 A CITIZEN o£ NEW-YORK. 
 
 We may trade and be bufy and grow poor by it, 
 TJtAefs we regulate our Exfences. 
 
 , Locke. 
 
 NEW-YORK: Printed by S. and J. LOUDON, for the Author, 
 
 AND GIVEN TO THE PUBLIC GeaTIS. 
 
 JIjPCCjLXXXVI, 
 
W E feldom meet with a man who doubts or dares to dif- 
 pute the utility of trade; but if we look on the fate of 
 Tyre and Sidon, Corinth, and Carthage, we Jhall not have 
 fo high an opinion of it, fines it brought on all of them their 
 ruin ; and the wretched prefent fate of Venice, Cologne, and 
 Antwerp, which were all within thefe two centuries very com¬ 
 mercial, prove the injlabiliiy of trade. 
 
 Bui to bring.this reafoning more home to ourfelves, notwit f 
 flanding that our productions amount annually to a very confide- 
 rahle J'um, we have found means long before the late war, not 
 only to get rid of it, but to have an immenfe balance againjl us; 
 focieties therefore to encourage arts and manufactures were en¬ 
 tered into, but after a rapid progrefs they were dropped on the re¬ 
 peal of the Stamp Ad, and with the return of the prefent peace, 
 though attended by Independence, cur former luxury was again 
 revived; f ace which our merchants are importing an inunda¬ 
 tion of goods from all Europe, but which we are unable to pay 
 for, the cenfcquence of which begins, and will be morefeverely 
 felt. 
 
 The profcffwn of a merchant is trade, they confult their own 
 inter eft; but it is the Lcgiflature only which can check and prohibit 
 an intemperate, impolitic, and luxurious commerce, and theri- 
 forc, for the exertion offv.ch power and authority , the following 
 ftocets are inferibed to the Legifaturcs of the refpefiive Mates.: 
 If they are found conffcnt with truth and right reafon, they 
 claim their attention; if otherwife Idefre they may be fupprefed, 
 as n:y intention is not to propagate error, but to remove it ; but 
 if I have failed in mydefgn, I at leaf have the pleafwc that I 
 wrote as an independent enquirer after truth and right reafon, 
 and to enforce it; not from the vanity of being an author, or the 
 mft dft ant defre of any emolument whatever. 
 
 A CITIZEN. 
 
The Commercial' Condud of the United 
 States of America confidered, &c. 
 
 T HE many difficulties and diltreffes that thefe States have 
 laboured under, our prifons crowded with debtors, 
 the eftates of many felling by execution frqm under their feet, 
 to fatisfy very trifling debts, and the cries of all ranks of 
 people among us for money, from whence fuch a complication 
 of mifery and misfortune was derived, is a matter that I 
 thought worthy of enquiry, as alfo to confider of, and to en¬ 
 deavour to point out a remedy for thofe evils ; but the un¬ 
 happy difpute between Great-Britain and America foon after 
 taking place, and which ended in a war, attended with all 
 commercial intercourfe being cut off, but.peace 'being re- 
 ftored,. and. the Independence of North-America .acknow¬ 
 ledged, I have refojved to fefumemy former intentions,‘and 
 to endeavour to point out our miftaiten commercial purfuits; • 
 but if I fail in the attempt, I fhall have the pleafing teflimony 
 that I v/rcte with a. good intention, being no pther than that 
 of ferving my country. ' ' 
 
 Fir/}.' Then I would ohferye that it is generally laid down 
 as a feif evident prqpoiltion, that trade is the road to, and 
 fountain of riches, of this very few among us ever fo much 
 as doubted, and therefore every man that has it in his power 
 turns merchant,' but whether in fuch their commercial pur- 
 iuitS they ferve themfelves or their country, or whether it has 
 not a direft contrary effect on' both, is what I alfo mean to 
 confider in the following pages. 
 
 ■ We have many merchants whofe trade is altogether toEu- 
 rope,’frbm whence they import every kind of its manufactures, 
 of which I have often known above fifty thouland pounds Iter- 
 ling arrive in a fingle Ihip, the greateft part of which are fo¬ 
 reign 
 
( 5 ) 
 
 reign, linens and. AJiatic manufafhires, but - taking in all the' 
 
 ’ ports of Grcat-Britain, and th'ofe of foreign countries, this 
 Continent did for feveral years before the war, import above 
 "three millions fterling per annum,' and fince the conclufion of 
 thepeace our-importation hasbeen.greater than ever, for now 
 all Europe ppurs in like a flood her luxuries upon , us/ In 
 this yaft importation the people rejoice upon' the fame prin¬ 
 ciple that the Portpguefe do,. who think that their great im¬ 
 portation is a mark, of their riches, when it is exports alone 
 that make a'country rich, and imports that impoverifii. it; 
 and that all our bread and Spur, beef, pork, - horfes,. fife., 
 lumber, fur, pot-afli,. rice, indigo, ,&c. are, not able to keep . 
 us'out of debt, I think-the Legiflature and every merchant 
 muft- be. fully convinced of, or we fhould not be millions in 
 debt to Europe as we at prefent are, and this is the reafon 
 . that we are not able to keep any money among us, for filver 
 and gold imported for our provifions and produ&ions cannot 
 flay here, whilft there.is fo great a.balance in Europe againil 
 us, it .not being- made ours, , is therefore no increafe of our 
 wealth; The. only way of keeping. filver and gold : in thefe 
 States is, by confirming lefs of foreign commodities than 
 what our own commodities will amount to, fbr.then whatever 
 the balance is, it is certainly'our own, and will flay in the 
 States/ but our. prdvifions and other 1 produce not being by 
 any means equal to our vaft imports, our money muft go, and 
 this, is the real, and only caufe of bur diftrefles which we have 
 and do now labour under, but I will with - a little variation 
 better illuftrate this by a quotation from Mr. Locke. . . 
 
 Let us. fuppofe Staten-Ifland pne farm, and' that the owner,. 
 befldes what ferves his family, carries to New-York, beef,, 
 pork, corn, butter, cheefe, &c. all commodities produced 
 from his farm, .to the value of one thoufand pounds a year, 
 and for this brings home from New-York, in rum, fugar, 
 wine, cloth,- filk, muflin, -tea, &c. to the value of nine 
 hundred ..pounds, and the remaining one hundred pounds in 
 money; it is evident he grows every year one hundred pounds 
 richer, but if the owner be a better hufband, and contenting ' 
 himfelf 
 
; ( « ) 
 
 , hi.mfelf - with his native commodities, buys no filk, muflinor 
 "tea, he will bring home five hundred pounds a year, and in- 
 icead as'in the firft inftance'of having fayed in ten years one 
 thoufand pounds, he will now have faved in the fame time five 
 thoufand. ' '. 
 
 He dies and his fori fucceeds to the eftate,‘but being a fa- 
 hiiohable gentleman, he‘muff have his .wines -froth France, I 
 Spain, and Portugal, &c.' he cannot drink the malt liquor of’ 
 his own country, but mud; have it from. Europe ; the"linen 
 made of his own flax is homefpun, he' therefore" cannot' en¬ 
 dure it, but fupplies himfelffromHplland and Ireland; he.cari- 
 ' not fieep in a bed with his owri linen and fluff furniture, but 
 muft have it of chintz, whch is more genteel ; and nothing 
 but a China damalk is fit for a morning gown for him to wear, 
 by this means he foorifpends the ready money his father had 
 faved for him: The produce of his farm flill goes to market, 
 and though it fells for a thoufand pounds, that will not iu'pply 
 . his luxurious wants; he brings home fifteen hundred pounds* 
 
 ; in rum, fugar, fpice, filks, gauze,' and a great.variety of- In-: 
 dia goods , he lives with the appearance of fplendor, but gr'ows 
 every year five hundred pounds poorer; ' he is arrefted, judg- 
 ‘ment and execution is awarded againft him, his farm, is fold, 
 and his body Ihut up in prifon. 
 
 The con duel of a Angle farmer, and of thefe' States,' differ 
 in this refpefl no more than greater and lefs; for it is' certain 
 .as in. the above inftancej that we maytradeand be bufy arid 
 grow poor by it, unlefs we regulate our expences; but ifthe ( 
 
 ' virtuous, and‘provident way of living of our anceftors, Who 
 were content with our ownnative conveniences of life, without 
 ; the coldly- itch after the materials of pride and luxury from 
 ' abroad, were brought in falhion and countenance among us, 
 
 ‘ this alone would do more to'keep and increafe our wealth'than 
 ' all the help that paper money can afford us; it is with a State 
 ' as with a family, fpending lefs than our. commodities will pay 
 for, is the only way for thefe States, to grow' rich, and when 
 ' .that is . once ferioufiy fet about by the refpeftive Legiflatures, 
 
 ' we certainly fiiall have no 'peed of paper money % our commo-. 
 
 - • ; -- .’ •' - ' r v dities;' 
 
G 7 ) 
 
 duties -will fobnfiring us-a balance bf gbld'and' fftver',-' but'till' 
 this be done-, our misfortunes wiU 1 nor only-continue-but in- 
 creafe ; formoneythat is brought among us from the Welt- 
 Indies, .Mexico, Havanna, ; Portugal, &c. can Hay-by. no 
 other means than cOnfuming fewer foreign, commodities; - 
 but byfpending and confuming more than our productions can - 
 " pay for, brings on poverty and ruin. - 
 
 Foreign commodities,- which by us ought to be looked on 1 
 as luxuries , 1 moll- certainly , impoverifli thefe States by being ’ 
 brought in, but that is the fault of our importation, and there f 
 the nrifehief ought by wholefome laws to becurcd; vanity-and • 
 luxury fpend them, and our merchants having'imported and 
 vended them, our money mult go to pay for them; but as 
 that alone will not do, our lands have been, and aire every 
 day fold to make up the deficiency. - ; \ 
 
 The Americans, fays Mr. Locke, ; who are rich in land-are 
 ' poor - -in all the comforts of life, whOm nature having fur-' 
 nilhed as liberally as any other people, with the materials of 
 plenty, a fruitful foil; apt' to produce what ought toferve for v 
 food, . raiment, and delight, yet for want of improvement, : 
 have not the conveniencies that we in England.enjoy. ■'• _ / 
 
 This he faid of the 1 native Indians of America, who-had ; 
 never an opportunity of knowledge, or the ufe of iron : But 
 that Britons whq planted themlelvcs here, and brought, with 
 them arts and fciences, Ihould fibt be able in one of the belt- 
 .. countries, fituated in the moll deferable climate under Heaven,' 
 whofe veryforefls abound with natural plenty; whofe luxuriant 1 
 foil refufes not to-yield ariyfruits that its owner demands, and' 
 is aftuaHy Capable of any produftions' that any'part of the' 
 World is known fo afford, and which in great meafure expe¬ 
 rience -has demonllrated -; .-for this'we can venture to affert,' 
 that whatever has been introduced here from Europe, orfromr 
 under the tropic', to this 1 Continent, fiourifli here. That fucb 
 a cbuntry- thcn lhould have recourfe to Europe, and eVen the' 
 moll d'efpicable corners of it, and through them to. Afm, id ; 
 order to clothe themfelves, is fucha conduit of its inhabi¬ 
 tant*, jhat a ftrangcr unacquainted with thefe fails- would 0 
 pronounce 
 
pronounce them incredible; but would he not be aftoniflied 
 when he was told that the United States of North-America 
 were according to the belt calculations above five millions fter- 
 ling in debt to Great-Britain, not only for her ufeful goods 
 (which we want) but for filks, chintz, callicoe, muflin, tea, 
 Ac. from Afia ; and even for linen from Silefia and Auitria, 
 ‘via London and Amflerdam; hemp, diaper, fheeting, and 
 other linens from Rufiia , and even from Archangel, when 
 they have under their feet a country, whofe natural fertility 
 furpafies any in the world. 
 
 But they prefer ploughing the ocean from theTorrid to the 
 Frigid Zone, rather than our fields, and to fupply a whole 
 kingdom with flax-feed, and afterwards involve themfelves in 
 debt to that very people for linen: a people opprelfed by their 
 Lords with extreme heavy rents, whilft the inhabitants of 
 thcfe States pay no rent at all. But, notwithftanding this, 
 they chufe to be in debt, and to have their lands taken from 
 them, rather than to make their own linen. 
 
 The kingdom of Scotland, which is by no means famous 
 for its fertility, having found that their imports greatly ex¬ 
 ceeded their exports, and that in confequence they grew poor, 
 did, fo late as anno 1746, efhblifh at Edinburgh a Britifli 
 linen manufactory, or company, which in 1766 ftamped for 
 dale twelve millions feven hundred and forty-fix thoufand fix 
 hundred and fifty yards of linen of their own manufaftory, 
 the value of which was five hundred and feventy-two thoufand 
 two hundred and twenty-feven pounds fierling: This they 
 export, and a great part of it even to thefe States, and which 
 not only pays for their foreign wants, but leaves them a ba¬ 
 lance. All tills they have done in twenty years, though moll: 
 of their flax they buy from Raffia , an article which we have 
 of our own. 
 
 Will not this great example, as Well as the much- greater 
 one from Ireland, animate every friend of thefe States, as well 
 as the refpeftive Legifiatures , to exert themfelves in the de¬ 
 liverance and falvation of their country, by the ellabliflament 
 of a linen manufactory, and in carnelt to fet their faces againft 
 
 the 
 
( 9 ) 
 
 the importation of everyifpecies of foreign linen, and parti* 
 cularly againft all Afiatic goods, as well as againft thofe of 
 •Holland, Hamburgh, and Ruffia: Nor is it any fervice we 
 do England in talcing her luxuries, which we arc Unable to 
 pay for. 
 
 But as to the great flaple of England, her woollen manu- 
 . fa&ures and hardware , thofe are ufeful goods; and thefe- 
 fore a moderate importation of them would be mutually be* 
 neficial, and it is our imereft that fire alone Ihould fupply us. 
 But men being brought up with the notions of an extended 
 •foreign trade, they think there is no way to fortune but. 
 that, and therefore more particularly fince our declared In¬ 
 dependence ; they, in purfuit of commerce are exploring 
 the whole globe, even from Greenland north, to Falkland IV 
 JJland fouth, and from Lake Superior weft, to China eaft; all 
 this in purfuit of imaginary wealth, whilft they have a redun¬ 
 dancy of real wealth in their own foil; but by means of their 
 fearch after it in Europe, they import fuch immcnfe quantities 
 of goods, that they have thereby not only ftripped us of every 
 farthing of our money, but have and are daily reducing us to 
 the greateft diftrefs. And though a very few may get rich by 
 fuch pernicious trade, they fhould remember, that in ge¬ 
 neral it is at the'expence and ruin of the States, for a mer¬ 
 chant may and often does get rich by a trade that makes his. 
 country poor; as a proof of it, we have only to look round 
 us and fee how many are rolling triumphantly in their coaches 
 on the profits got out of their unthinking unwary country¬ 
 men, whofe paternal eftates they did, and are feizingby the law,, 
 and the bodies of thofe who have none, did, heretofore, and 
 do at prefent croud our prifons; a$d which a few years be¬ 
 fore the war were obliged to be enlarged, whilft the din and 
 noife of profecutions even tired our Courts of Juftice. 
 
 All thefe evils are derived from no other caufe but that our 
 imports greatly exceeding our exports, the balance of which 
 was, and is the caufe of all our calamity ;. for a country, fays 
 Baron Montefquieu, that conftantly exports fewer commo¬ 
 dities than it receives, will foon find the balance finking,’ it 
 B wiH 
 
will receive left and left, till falling into extreme poverty, it 
 will receive none at all; but neither his opinion, nor that of 
 Mr. Locke, and both confirmed by our own experience, that 
 ■we follow .a lofing and deftruftive trade to foreign countries, 
 is fufficient to determine us to let ourfelves in earned about 
 curing the evil; arid thereby prevent the total ruin of thefe 
 States, many of whole unfortunate inhabitants are prevailed- 
 on to buy the toys and trifles of France and other countries, 
 which they foon find themle'ves unable to pay for, bv any 
 other means than by the laic of the bell eftates in the world, 
 Their lands. 11 ut our diflrefies began to be felt before the 
 war, and they pointed out cur rniftaken purfuits, we began 
 to be alarmed ; in confequence, united in feveral of the States, 
 into focieties of arts, agriculture, and a manufaftory of linen ± 
 in which w;e fucccedsd beyond expectation ; but the famous 
 Stamp Aft being repealed, w r e diifolved thofe laudable fo¬ 
 cieties,-and rdapiedinto our former follies. 
 
 : “ I wiliy laid Aurenzebe, make my kingdom fo rich, that 
 that there lliall be occaiion of neither hofpitals or prifons.T 
 This indeed was a refoluticn becoming a great Prince, and 
 wife legiflator; who though he ruled over realms burnt up by 
 the fun, in great meafurc effected if. 
 
 - Is it not then a reproach to thefc States, who are not only 
 nleilcd with the iineft climate, but the mod fertile foil under 
 Heaven, to have occafion of either hofpitals or prifons, in a 
 country whofe cxteniion knows no bounds , and this is more 
 rhan the proudeft and greeted: M anarchs on earth were ever 
 able to fay. 
 
 But we prefer plowing the ocean rather than our fields, and 
 correfponding with other nations for their luxuries, by which 
 we have brought on ourfelves debts, difficulties and perplexi¬ 
 ties ; and now in order to prevent and put a flop to thofe 
 evils, which au imprudent foreign trade has involved us in : 
 What is the remedy we mean to apply ? I anfwer it is a paper 
 currency. This every man is anxious about and folicitous for,, 
 as well as many Members of the refpeclive Legiflatures, who 
 think it would be a fovereign remedy for all their evils; but 
 
in this! beg leave to differ front them, for I think the reined.)' 
 would be much worfe than the prefent difeafe ; I mean to ex¬ 
 cept the emiffion of Congrefs, for which' there was a necef-' 
 fity, but I intend not to go into politics. The duty which I 
 have taken upon me is to reafon on trade, and perhaps 1 am 
 the firft who have attempted it fince our independence; 
 
 My.reafons for differing with the friends of paper currency 
 are: Firjl, That it,carries no intrinfic value, that it is expofed 
 not only to depreciation, but alfo to annihilation, and which 
 the whole Continsnt has fatally experienced. 
 
 Secondly, If it be. emitted by way of lean, the people 
 who are fo extremely fond -of -.trade, will obtain fuch 
 paper on the fecurity of their lands, which being inverted in 
 'blips and fet afloat, many of them either for want of expe¬ 
 rience or through misfortune, would foon find themfelves 
 without either land or paper currency : In fhort, it would prove’ 
 a fnarelo them, -nor-have I ever known or heard of a man in 
 Europe-parting with a landed eftate,.in order to’turn mer¬ 
 chant ; but on the contrary, merchants always look forward 
 with a hope of quitting -that-uncertain profeffion, in order to 
 invert their property in lands. Emifiions therefore of paper 
 currency appear to me the molt miflaken, and the moll fatal 
 meafure that wc can pdfibly take; and will by no means re¬ 
 medy hut iucreafe our evils, and in this opinion I am fupported 
 
 by Mr. Locke, who fays- 
 
 “ That a law cannot give to bills that intrinfic value which 
 the univerfa! confent of mankind has given to filver and 
 “ gold, which writing cannot fupply the place of, becaufe 
 “ bills are liable to unavoidable doubts, difputes, and coun- 
 <£ terfeiting, and require other proof to affure us that they 
 " are true and good fecurity, than our eyes or a touchftoue': 
 “ and at bell this courfe of ufing paper, if practicable, will 
 cc not hinder us from 'being poor, but may be fufpefted of 
 “ helping to make us fo, by keeping us from feeling our po- 
 “ verty, which in diftrefs will be fure to find us with greater 
 “ difailvantages.” 
 
( 13 ) 
 
 . t This has been fatally experienced in thefe United States on 
 this Continent, and Europe has by no means efcaped the evils 
 of too much credit given to Paper, witnefs the South Sea 
 Stock in England, anno 1720, where though it was hot a le¬ 
 gal tender, ye: the kingdom went into that bubble to fuch a 
 degree, that it ruined a very great part of the nation ; and 
 the year before the famous Mr. Law formed the Miffifipi 
 Company in France, where the Billets de Rank , or Bank 
 notes, were emitted ; the people who had been told of mines 
 not inferior to thofe of Fotofi, fwallowed the gilded bait, 
 $nd paid in their filver and gold to the Exchequer, for Hock 
 or bank notes, but in nine months time they found them- 
 felves ftripped of all their money, in exchange for which 
 they had paper, which depreciated to fuch a degree, that in 
 5 few months more, one hundred Jivres in paper would pur- 
 chafe but eight livres in filver, and foon after it was not worth 
 a farthing 5 and this we have too fatally experienced on this 
 Continent.. , 
 
 A precious metal therefore, ought to reprefent the value- 
 of all other things, and in this all nations have agreed, that 
 filver and gold fhall be the fign of it, becaufe it is durable, and 
 little liable to be counterfeited. 
 
 But there are many among us, who being intoxicated with 
 an excefs of trade, fay that the trade of England is extended 
 by the immenfe emiflions of bank notes; and therefore coti- 
 fider them as a paper currency, alledge their utility. To which 
 I anfwer, firft, That they arc payable on fight at the Bank in 
 gold or filver, which for want of ability is not propofed in 
 the American emiflions; and fecondly, although they are 
 -payable at fight, I am far, from thinking that they are of fo great 
 ufe as is imagined, my reafon is, that people who are embar- 
 railed in confequence of their having overtraded thcmfelves, 
 and who are on the brink of ruin, make promilfary notes 
 payable at pne or two months to their friend, a man of credit; 
 this he endorfes, the paper is taken to the Bank, which is 
 continually difeounting at 5 per cent, per annum,and which al¬ 
 ways takes care to have a good indorfer: The Bank therefore, 
 
by- this pernicious temporary fuccour, are fo far from giving 
 aid to the adventurous and enterprifing, that on the contrary, 
 
 I think they greatly contribute to their ruin; add to this, 
 the faith put.in hocks or national paper: T/jofe of England , 
 for which the people paid one hundred pounds, were lah year, 
 1785, worth no more than fifty-four pounds, the then cur¬ 
 rent price, and of this hock there is above eighty millions 
 hading. 
 
 Paper emiffions in thefe States, will not only have a fimilar 
 evil efieff, but a much greater ; for in England if a man pof- 
 leffes an hereditary chate, and he be apt to build cables in the 
 air, they in their fall will only overwhelm himfelf; but in his 
 ruin his fucceffur cannot be involved, the ehate remains en¬ 
 tire and goes to the next heir : But this is not the cafe in thefe 
 States, for our lands are confidered and put on the fame footing 
 with chattels. 
 
 This confideration alone ought to operate on our minds, 
 and more particularly on the minds of the Legiflature, no: to 
 wihifor, or to enaft emiffions of paper currency, thegreateh 
 part of which would.be invehed to gratify a trade of luxury, 
 at the expence of the only intriniic, valuable, permanent 
 wealth in the univerfe, our lands; which willforever give us 
 both food and raiment, and who cn earth has more ? This is 
 really and truly riches, which will never depart from us; and 
 this opinion is confirmed by the ingenious Baron Montefquieu, 
 who fays, “ That is a bad kind of riches, (meaning trade) 
 w hich depends on accident, and not on the induhry of a na¬ 
 tion, on the number of its inhabitants, and above all on the 
 cultivation of its lands.” 
 
 Great-Britain from the reign of Henry the Seventh has 
 had an increafing trade, but whether it has done it good, to 
 me is doubtful, and therefore I fliall not take on me to deter¬ 
 mine it; but this I will venture to fay, that the far greater 
 part of the national debts derives its origin from commercial 
 wars. The mode of funding began in the reign of King 
 William, to carry on his Flanders and Dutch wars, he left 
 the kingdom fixtecn piillions in debt; Queen'Anne’s wars 
 added 
 
t H > : 
 
 ickhrf thirty nine millions, together fifty-five millions; for the' 
 Mcceeding- twenty-four years pcade after her dekth,: therd 
 was-bat eight-.millions paid off, ithus in'1739, thc : national' 
 debt was about forty-feven'millions; this year war' was de¬ 
 clared againft Spain, and in anno 1744 againft Prance, which' 
 concluded at Aix la Chapelle in 1748, with an addition to 
 the national -debt of thirty-one millions,'irndw~ flood at 
 feventy-eight. millionsand in 17.56, war was again declared 
 .againft France,, and fometime after againft Spain; this ended by 
 the Peace of Fontaihbleau, .anno 1762, with the enormous ad¬ 
 dition of fixty-eight millions to the debt. 
 
 The firft of thefe wars in 1739, was on account of a fup.- 
 •pofed right to cut logwood in Honduras ; the fiecond. on ac¬ 
 count of the invafion of the Colonics back of Virginia, at 
 Fort du Quefne; both, of thefe wars, after a great variety of 
 adventures, flew round the globe, and was transferred even 
 into the interior parts of Germany; whenit was fa’id by that 
 bold affertor, “That we had conquered /^merica in Ger r 
 ■many.” The debt now flood at .one hundred and forty-fi? 
 millions fterling; this was'alledged in Parliament as infupr 
 portable, and that one hundred millions .of it was incurred on 
 account of America, therefore fhe oughtto bear a part of the 
 ■burden by taxes. The experiment was tried by the Stamp 
 Aft, &c. which was oppofed ; force was ufed, which brought 
 on the late war, and which ended in an' acknowledged Inde¬ 
 pendence of America ; and added to the Britilh national debt, 
 including navy, viftualling, and ordnance bills, one hundred and 
 -thirty-four millions, the whole of the enormous debt now is two 
 .hundredand eighty millionsJlerling! The like of. which, nor the 
 -half of it, was ever heard 'of in any Empire, Kingdom, or 
 State in the world ; the very intereftof which is above eight 
 ■millions four, hundred thoufsnd pounds a year; the King has 
 Another million-for his civil lilt : and the revenue of. the realm 
 -was not in ,1785 quite eleven millions: Thus there was left 
 about fifteen hundred : thoufsnd.pounds' for .the army, ’navy, 
 building, repairing, peafions, &c. ' ' 
 
 Under 
 
( i5 ) 
 
 ■ Under the "weight of this,- and-the enormous taxes impofedi 
 •the prefent year, which are almoft beyond conception, the 
 people groan ; taxed .for the light , from- Heaven, for being 
 ehriftened, and another for being-buried, taxed for taking a. 
 receipt from your creditor, aiyffive pounds, (tamp on your 
 lad will, and two per cent, on legacies, even for hiring a: 
 horfe, or keeping-a : man or woman fervant • twenty-five (hil¬ 
 lings per head, and for keeping five fervants thirtydive (hillings 
 per head per annum.;.- on hats, (hoes, and gloves, with an. 
 infinity of other things are. taxed, and thus' the revenue cori- 
 hderably increafed, ip order to pay the intercft of the whole 
 ■miftakenly incurred national debt , and which laft year fold at 
 54 per cent, but now on account of peace, is rifen. ■ 
 
 I have recited* thefe latter particulars to. (hew you, that 
 this dreadful debt is originated from a miftaken thirft of com¬ 
 merce : I fay it fprung from the Bay of Honduras, from Fort 
 du Quefne, Canada, and.the attempt to tax the United States 
 pf America; her third pf trade “brought on her all thefe 
 ■wars, for neither (eas, .mountains or ; defarts,• can (top their 
 ambitipn', or truth and right reafon their miftaken notions of 
 tirade, and which I think is the only caufc of their being funk 
 jhto an abyfs.of national debt.. 
 
 . Let. then the mod fatal meafures- ,of Great-Britain be at 
 Warning-to this Continent, and to this State in-particular ; by- 
 avoiding heir dreadful miftakes in ranfacking the globe, from 
 Otaheite to. Greenland, and from Lake Huron to the Ganges, 
 and beyond it, whilft they have every thing that they ought to; 
 wild for in-their own foil, the fruits, of which wc-.have hitherto: 
 fc?ttered_about the. world,, .and have but little to (hewfor it.. 
 
 But we can now by laws prevent, the- importation, of the 
 hixuries' of Europe* and Afia, and particularly -the diflronor- 
 .able, the deteftable, and iniquitous trade to Africa , by en- 
 flaving .mankind; a-trade that is or ought to be fliocking to 
 human nature, and ,at which every American in particular,, 
 who have fought for .liberty, ought'.to blufh. 
 
 \ But though I have faid thus much- againft a foreign and. peit- 
 picious trade,..yet I defire to be.rightly underdood; a trade 
 
 ' to 
 
( 'IS' ) 
 
 .10 climates ‘ diffimiiar to our own is ufeful, as for inftance, a 
 •trade to all the Weft-Indies for their prodfiXions, in exchange 
 for ours; . a' trade to the Havanna, Verft Cruz, , Brazil, 
 Bounes Ayres, for goldandfilver -\ alfo to Portugal and Spain 
 for the fame, in exchange for ihips, fifh, wheat, rice, &c. 
 .ought to be encouraged. • ■ . 
 
 But I am c'early of opinion, that we-ought not to-have 
 any commercial connexions with China, the Moguls ’Empire, 
 or any . part of the Eafi-lndies. They -have for-their luxuries 
 thro’ all antiquity', been a drain of thewealth’ of the Egyptians, 
 •Grecians and Romans, and of every other nation that ever knew 
 themand fsnee the difeovery of anno 1492, round theCape-of 
 Good Hope, they have been a conftant fucker of the wealth of 
 Europe, and the deftroyersof themanufaXures of England, and 
 ■ftill woife, for her wealth has blinded England fo far, as to make 
 waft conquefts there of Bengal, ; Orixa, Bahar, and the Car¬ 
 natic. In fhort, of moft of the vaft Peninfula of India, and 
 holding them by the fwordof Britons, Seapoys, and others; 
 and building numerous forts and caftles, as well as keeping 
 very large Britilh fleets there,; and yet amidft all this, parade, 
 India flock- has long been falling in London, and the Com¬ 
 pany immenfe fums in debt in India , where their bonds fell at 
 /30 per’ cent, difeount, at the fame time in debt to the Go¬ 
 vernment in England , and applying for a farther loan. But 
 though the Company is not profperous, nor I think ufeful to 
 .to the State, yet individuals, the adventurers of England, 
 by. the fword of violence, difplayed equally fierce with thofe 
 of Pizarro or-Cortez, return with Afiatic plunder immenfely 
 rich; then get in. Parliament to affift in overturning the can- 
 Jlitution of their country. • ••'-'•’ ■ 
 
 All thefe are well known hut awfulfaXs: Is it then pof- 
 •fible. that the Legiflatures of thefe United States will permit 
 ‘ a trade to a country produXivc of fo many evils ; ■ on the con¬ 
 trary, ’tis hoped they may be infpired with refolutions, abfo- 
 lutely to prevent all commerce with Afia.' That an American 
 fhall no.t be able to go to breakfaft without going round half 
 the globe for it, is an infult to-the wifdom.of' Providence, 
 
. ( l 7 ) 
 
 Srio has fopplicd every .country wkhallits waiits:,: and to.tiifr 
 hern his beneficent hand towards us, we.have..only.toJi : ft:up 
 pur eyes and look around Us. But as Britifli are the ,befl .in. 
 Europe, -we ought always to prefer, her manufactures,/and 
 . .never to forget encouraging our own. linen manufactory, ; and 
 for which we have all the materials, this fhould be our fe'cond 
 great objeCt of fludy and purfuit. The firll I. mean with all. 
 flibmilfion to. recommend and ever to prefer, ■ is agriculture; 
 and which feems.to have been dilated by God Himfelf —■Till 
 •the.Earth ; and of this we have an inexhauftible treafure, and 
 more than any other nation on .earth can.boaft of, (Spain 
 . only excepted) and perhaps frozen Ruffia. 
 
 Agriculture is the firll and moft healthful of all employ-, 
 ments, it is the great fource of domeftic riches; and where 
 it is neglected, whatever wealth may be imported from abroad, 
 poverty-and mifery will abound at.home, for fuch is and ever 
 will be the fluctuating flare of trade,.xhzt thoufands maybe in. 
 full employment to day, and in beggary, to-morrow: But this 
 can never happen to. thofe who cultivate the ground^ they 
 pan eat the fruits of their labour, and ; can always-obtain the 
 neceflaries of life ; Hire! once more t0 : prove the : advantages 
 of. this , great profejfic-n, I will call in my Lord Bacorf ; to my 
 aid :. Agriculture, fays that great man, is -the moft natural 
 way of obtaining riches; and when men of fortune become 
 hujbandmen, they often grow- immenfely- rich,, rich? in corn, 
 rich in flocks, rich in herds,-in -woods,. Cec.-kfo’that the 
 earth continually, .blefies the profelfipn. of r the- plough, w 
 And pf .late;date*, the prefent King of Pruffia, though born, 
 and bred under .defpotifm,faid, I. .venerate-'the plough, 
 
 “ much more than a Jhip, and it is my wilLthat four.millions 
 - of rix-dollars be diftributed. : on.very moderate terms-, .tp- 
 “• my induftrious and frugal farmers.” / .... . , 
 
 ...But to return, haiying thus-confidercd'and/l hppje/eieariy,,. 
 fliewn, that from our imports infinitely exceeding our exports is) 
 derived all our calamities, andfroinwhichpaper currencycaanoti 
 deliver, us, nor Can they be removed’by .any other meanskhan.-. 
 thpfe above mentioned, and for which we have almofteyery 
 
 :. ’ . 4 C .... - •• material-, 
 
iSatemf; but notwithftanding this, w'e are poor with a pfcr-- 
 fufion of natural wealth in our pofTeiTicn, That w'e are poor- 
 needs no other proof than our Prifons , Bankruptcies.) Judg¬ 
 ments, Executions, AuBions, Mortgages,- &c. and the fhaffre- 
 ful 'quantity of bufinefs in cur 'Courts' of Law. Prom the 
 late unhappy war, when ail'things were inverted, when Jinan- . 
 nanceerirtg, contraSing, jobbing, agency, &c. took place, -difc- 
 pation brought up the fear, and'the good feufe erf my motto 
 from ?-lr. Locke, it feems is quite forgotten. But there lire 
 feme lages among us, who-T hope vt ill vindicate the caufe of 
 truth, and of their country ;• ami that they will let alL’the 
 Citizens of tbefe States know, that Grdat-Britain in the reign 
 of Edward the Sixth, font the wool'of England to Flanders; 
 there to- be manufkfiured, and’ then- the cloth returned apd 
 ibid to the Englilh, v/hofc true interefl was not underftbodor 
 purfued; till- the perfecutioiv in the Low Countries' .by the 
 Duke de Alva ; itv conlequcirce thoufands of manufacturers 
 lied to England; where the}- were received with open arms,- 
 front which time; manufactures incrcafe’d, improved, and 
 drew wealth from ail other parts of the world. Let us then 
 avoid tile former ignorance of Great-Britain, as well as her 
 modern mijiakes, and adopt that part of her prefent policy,' 
 which gives’ proteflion; countenance and encouragement to 
 arts and fciences.' ■ ■ - 
 
 • But we are not.wi’thouf many'perfpns among us who affertj* 
 that we can import goods'from France, Holland, Hamburgh,- 
 . India, &c. cheaper'than wc can make them; and therefore 
 conclude, that it is our intereffto enepurag'e fuch importation 
 hut in order to convince them of -their dangerous miflake, F 
 will fuppofe a piece of Dutch orTriih 'linen colls in Europe’, 
 forty {hillings^ which muff be paid-for either in our money 
 or produce; but if a piece oF equal qualify be our own’ 
 hiabufa&ure, and' although it cofts more per yard, if "never- 
 d.helefs is fo much -clear gain to the State, becaufe the flax and' 
 Hbour of which it is compofed arc our own, but in the firlt 
 cSfe neither one-or the other-.; and' this being equally true'in’ 
 all other goods-, moft of-which are made- or-prepared by womei? 
 dnd’child?cn ; it is therefore fo much clear gain. But. 
 
■( 29 
 
 ' But if we poflefled an inhofpitable- climate and fterile foil, 
 which refufed us either the necdlaries orconveniences of life, 
 "the'arguments of fuch advocates for a foreign trade would 
 '■have fome foundation to Hand on ; and infucbcafe, itwould 
 ‘be prudent to follow the example of the Dutch, inbecoming 
 the carriers to other nations, and-"with fuch gain t© procure 
 “to ©nrfelves what we Hand in need of; but as we are bleiTed 
 with a. country excelled by none, -and equalled but by few, 
 ■our real intrinfic wealth therefore lies -in our foil; prcvific.itc 
 we have enough : We ought therefore to turn our attention 
 more .to the growth of flax an dbemp, and thefe with many other 
 ■raw materials well manufactured will fupply all our wants; 
 ’but inftead of fuch domellic trade, which would be attended 
 ’with peace, plenty^ happinefs,'and independence on other 
 countries; ‘Ifay rather than do this, we clutfe to ranfack more 
 "than half the' globe, and In purfuit of fuch things as we can 
 produce in our own country, and for others which we can do 
 •without, fuch as-infignifieant currants, olives,-capers, figs, &c. 
 "co the Mediterranean ; and there-expofe our property. to be ta¬ 
 d-ten by the Barbary coffairs, ’which we have already felt,, and 
 ■our citizens to be carried into flavery to Morocco, Algiers, and 
 Tripoli for life, and which they -are now Tuffering for our 
 ■folly in fiearch of. the above -very trifling' luxuries; - i;i 
 'Avhich, if’we perfift, we muft refolve to become - tributary 
 'to pirates. - - - 
 
 But in order the better to illallrate my-meaning, I twill 
 Tuppofe you, Sir, to be a linen manufacturer in any one'of 
 thefe States, by which you would .have the picSiure' o’f'-ent- 
 ' ploying and giving hread td.lpinncr-s,' weavers, ‘&e. your-af¬ 
 fairs would all be under your eye,-and in a narrow compafs, 
 'which every wife man would chufe ; you would lead a tran¬ 
 quil, unembarrafled life, and could not.fail of getting rich. 
 
 I will now fuppefe myfelf a merchant,-with a ware-houfe 
 'full of Aiiatic goods, as well as thofe of France, Holland, - 
 'and Hamburgh, which are-all loaded with commiffion, freight- ~ 
 ■age, infurance, and many other charges: Thefe goods I fell, 
 mud in order to make payment-I build Hoops to-t-rade. to i = 
 Weil-lndies - 
 
( - 2 ° ') 
 
 .■Weft-Indics for molaffes'; this I diftil,- and fend the rum to 
 •Newfoundland, exchange it for fifli, and fend that to Spain 
 or Portugal, in order, from thence to make payment to Eu- 
 .rcpe ; or I fend my rum to Africa, and exchange it (horrid 
 to teli) for unhappy flaves, and fend them to the Welt- 
 Indies, in order to obtain a bill of exchange to remit to Eu¬ 
 rope : It does not require much fagacity to fee, that all thefe 
 adventures are full of anxiety, rifque, and difafter ; my veffels 
 .are expofed to hurricanes, fiCh is a very perilhable commodity, 
 and Haves often rife on the coaft, or die in the paffage ; if any 
 one of thefe misfortunes happens, I am unable to pay my 
 European creditor. Now would not any man, who.will allow 
 himfelf a moment’s reflc&ion, chufe to avoid fuch a precarious 
 profeffion, and embrace that of a' linen manufacturer, which 
 would not only be attended with more peace and ferenity, and 
 a much greater probability of fortune too, but he would alfo 
 acquire great honor, as being an encourager of arts, and the 
 .author of plenty. In Ihort, to ufe a homely expreffion, our 
 conduct, is like that of the butcher, “ who run about in 
 fearch or his knife when he had it in his mouth.” 
 
 If it be faid that my plan narrows our navigation, and will 
 reduce the number of our feamen ; to this I ahfwcr, that, 
 added to our mutual intercourfe on our own feas, we have all 
 theEnglifli, Dutch, French, Spanilh, andDanilh Weft-Indies 
 to trade to ; in fhort, to all the weftern hemifphere, or new 
 world. I hope this will be thought fea room enough, without 
 going to Africa, or Afia; and that we may drop the idea of 
 fending arid maintaining at great expence Ambafiadors and 
 Agents at the different Courts of Europe, and with whom 
 we‘have no bufmefs, nor ought to have; England only ex¬ 
 cepted, from whence we originated, and laying afide our late 
 animofity live in peace with her. (J , 
 
 To conclude, if, from what has been faid, it appears that 
 we have, in our commercial purfuits, been very much mifta- 
 . ken 5 and if we chufe to continue to indulge ourfelves in the 
 . luxuries and expenfive goods, of China, India, and Europe ., 
 only ^ccaufc they come from far, and at dear rates, nothing 
 
 ' " ' • ■■■■■>-. . - k ut - 
 
( 21 ) ' ' 
 
 but Inevitable ruin 'will be the confequence; in order to avoid’. 
 which, we have no other,effe&ual means or remedy for all 
 thofe evils, but that of reducing our imports and encreafing - 
 our exports, the latter being properly encouraged by the re- 
 fpeciive Legiflatures, will not only prevent the feizure and 
 fale of our eftates, bankruptcies and ruin,, but it will, in a 
 particular manner, operate on and extinguilh our national 
 debt, the burthen of which is the great caufe of the uneafinefs 
 and complaint among us; and, in order to extricate ourfelves 
 from it, the States have impofed various'dutics on merchan¬ 
 dize imported.—With fubmiffion to their fuperior judgment, 
 
 I think they are miftaken; for fuch taxes, or duties, operate 
 little on the foreigner, and none on the importer, but on the 
 people; for the merchant will take care of himfelf; he will 
 add the duty to the price; therefore the coniumer only pays 
 the duty. To remedy this, fuch duty fliould amount almofl 
 to a prohibition, (always excepting the goods of England) 
 and then only our exports will exceed our imports; the ba- • 
 lance then in our favor would foon enable us to pay off our 
 national debt, which can never be done with paper, or, I 
 think, by any other means whatever, than thofe above. 
 
 And, finally, by thefe means we {hall prevent the detrac¬ 
 tion of our people by wars with other nations, which an infa¬ 
 tuated defire for vfclefs and luxurious trade will certainly lead 
 us into, but which I hope the wifdom of the refpeftive Legif¬ 
 latures will prevent. 
 
 •.FINIS.