tilties, may be allowed the honours of argument. At the epoch of the American war, the whole cargoes of foreign and British merchandize, which we exported to all countries, amounted in value £.15,613,003 to So greatly was our export diminished, by the American war, that the whole foreign and British merchandize fent out to all countries, amounted only, in 1781, to The annual lofs, When we were forced into the prefent war, we exported foreign and British merchandize to the vast value of You were led by your fuppofes and your fubtilties, contrary to the admonitions of experience, to infift, that our commercial loffes will be greater from the prefent, than from the American war. I will allow you to cut off, with your harlequin's sword, from our annual exports, And, there will ftill remain for our 10,569,187 £.5,043,816 £.24,905,200 6,000,000 fupport, 18,905,200 Such was the lofs on our whole exports from the American war! and fuch the ftill greater lofs, which, the present war is to cut off, by this harle quin management! Of British manufactures, the American war at once ftopt the export, to the £4,073,940 Of British manufactures, the prefent war only stopt the annual export to France, the value of 717,807 But, how are you to ftop, during the prefent war, the export, and the confumption, of British manufactures, to the vast amount of £•3,356,133 a year? Nothing is fo eafy. By potent charm, I can march from the belligerent nations two millions of men, where they cannot confume; I can impoverish the people, fo that they cannot buy; I can dry their bones, and fhrivel their muscles; and I can add to all these evils, famine, and peftilence *.— Oh! who can tell The hidden power of hearbes, and might of magick skill! * Such are the modes, which are propofed to ftop the confumption of our manufactures, in pages 25-6-7. C 2 Notwith Notwithstanding the might of magick skill, we can fend our manufactures cheaper to foreign markets, during the prefent, than the American, war. We have greater commercial capitals, which can work commercial wonders. We fee, in your hiftory, that a fort of revolution has taken place in this traffic. The manufacturers themselves now export their goods. The merchant, who was formerly the middle-man, between the manufacturer at home, and the confumer abroad, is now laid afide; and his profit will of courfe be deducted from the price of the merchandize. We have many more ships at prefent, than we had at the commencement of the American war*: And, we fhall therefore send out our manufactures at smaller freights. In the prefent war, we have more fleets for us, and fewer against us: and, confequently, the rate of our insurances must be lower, as the rifque is lefst. These reafonings, however founded, * See the Chronological Table in the Estimate. The fubjoined STATEMENT is a fufficient proof: the Eaft-Indies, and China. 1779. £.6 per cent. 1782. 15 Guineas per cent. 1792. January to December, L-3 to 3 Guineas; December, L-4 and £.5 per cent. 1793. January, L.4 a. 5 Guineas; February and March, 8 Guineas; April to October, £7 a. 7 Guineas ;. October, &c. 6 Guineas. Jamalea ded, enter not into your estimate; as, in your practice, you think it quite fufficient to re-carol the Cuck Jamaica. owes 1779. With convoy 7 to 8 Guineas; without 15 a. 20 Guineas. 1782. 8, 10, and 15 Guineas with convoy.-Premiums higheft in the beginning of the season. 1792. £.2 per cent.-1793. January, 3 Guineas; February, 5 Guineas, and 7 Guineas; April, 8 Guineas; June, 4 a. 6 Guineas, with convoy. $779. Leeward Islands. With convoy 7 a. 8 Guineas, without convoy 16 1782. From 8 to 12 Guineas with convoy.-Premiums highest in the first part of the feason. 1792. £.2.-1793. January, 2 to 3 Guineas; February, 10 Guineas; March, 5 Guineas, with convoy. 5 Guineas per cent. the general rate throughout the feason, with convoy. Canada. 1779. With convoy, 10 Guineas; without convoy, 15 Guineas per cent. 1782. 15 Guineas with convoy.-1792. £.3 to 3 Guineas, throughout the feafon. 1793. 5 to 6 Guineas with convoy. American States. 1782. 15 Guineas with convoy in general throughout the season. 1792. £.2 in general. Ditto. 1793. January, £.2; February 4th to 9th, 3 Guineas, 4 Guineas, and 5 Guineas; 23d, 8 Guineas; March, 8 Guineas, and 5 Guineas, American fhips only. The ́owes fonge, in proving things doubtful, by things as doubtful. * In this fpirit it is, that you controvert the great pofition, which I had fo clearly established, in the following Estimate, "that there is a point of "depreffion, to which the commerce of this coun"try may fink, in confequence of war; yet, that "from this point, as in former wars, it will naturally return." You say †, You fay t," this fuppofition is dangerous, as well as fallacious." But, why is it a suppofition? for, I have eftablished it, as a true principle, from fact and experiment. Why is this principle dangerous? for, I have fhown from a thoufand circumstances, that it is confoling. Why is it fallacious? for, I have fixed it as a truth, that what has always occurred, will again occur; as the feafons follow, in their conftant courfe. You, in general rate throughout the reft of the feafon 3 Guineas. The Baltic. 1779. 2 Guineas with convoy, 5 Guineas without.-1782. 4 to 5 Guineas with convoy. 1792. 1 Guinea to St. Petersburg, L.1 to 1 to Stettin. 1793. March, 3 Guineas with convoy to Stettin; 6 Guineas without. April, 2 Guineas with convoy to St. Petersburg; and 5 Guineas without. July, to St. Petersburg, 3 Guineas, to return 1 per cent. if with convoy, which was the general rate throughout the rest of the season. In page 65. + Page 65. deed, |