An Essay on the East-India Trade [10]
consumption in this commodity will stand us in above 40 per cent more than it does at present. This manufacture is proper only for countries where they can have flax and hemp cheap, and where the common people work at very easy rates. But though with forcing nature, and by art and industry, we could bring it to greater perfection, yet upon other accounts it is perhaps not advisable, nor for the nation's interest, to promote it. 1st, Our soil, and the labour of the people, may be employed about materials more advantageous, and wherein we cannot be undersold by other countries. 2dly, The growth of this manufacture would obstruct trade, and other business more important to the nation: for, 1. Our noble staple of wool is undoubtedly capable of a great improvement to which the increase of wages (that must happen upon an increase in the linen manufacture) will be a considerable hindrance. And one cannot rise but to the prejudice of the other, because we really want people and hands to carry on both to their full perfection. And, 2. It is more the general interest of England to export woollen manufacture in exchange abroad for linen, than to make it here at home; which trade has been set afoot, and prospered very much, to the great benefit of this kingdom, since the prohibition of French goods during this war. But if we provide ourselves at home with linen sufficient for our consumption, and do not want that which is brought from Silesia, Saxony, Bohemia and Poland, this trade must cease; for these northern countries have neither money nor other commodities; and if we deal with them, we must be contented, in a manner to barter our clothes for their linen; and it is obvious enough to any considering man, that by such a traffic we are not losers in the balance. In process of time, when England shall come to be more peopled; and when a long peace shall have increased our wealth and stock, perhaps we may be able not only to carry on our old manufactures to their full height, but to embrace new ones, such as are that of silk and linen; but as our case stands, it seems sufficient to let them thake their own natural course, and not to drive them on; for too many sorts of businesses may be as well hurtful to the public, as they are often to private persons. If the nation finds a general profit from them, their own weight will bear them on; but in the mean while, it cannot be advisable, in their favour, to exercise any extraordinary act of power; and for their sake, by prohibitions, to distress, embroil, and disturb any settled trade, by which, beyond all contradiction, the nation, before the war, was so great a gainer. My lord, after much thought upon this subject, I am come to these conclusions within myself, which I submit to your better judgment. 1st, That our silk and linen manufactures obstruct trades more important and more profitable. 2dly, That though a prohibition of East-India goods may advance their present interest, who are engaged in the silk and linen manufactures here, yet that it will bring no future advantage to the kingdom. 3dly, That luxury is so deeply rooted in this nation, that should this prohibition pass, it will only carry us to European markets, where we shall pay perhaps 50 per cent dearer, may be, for the same, or for vanities of the like nature. So that Upon the whole matter, my lord, I am humbly of opinion, that the importation of wrought silks, bengals, stained callicoes, etc. does not so interfere with our silk and linen manufactures, as to hurt the public, and bring damage to the collective body of England. And thirdly, as to the effect such a prohibition will have upon the East-India trade in general. In all argumentations it is requisite to settle and agree upon principles; for which reason, in the beginning of this discourse, I did endeavour to prove, that, in general, the East-India trade was profitable to this kingdom. And I dwelt the longer upon that head, because some people are quite a contrary opinion, and believe it hurtful to England.