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wealbk04-第32章

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or beans。

     By the same law; too; the exportation of wheat is prohibited

so soon as the price rises to forty…four shillings the quarter;

that of rye so soon as it rises to twenty…eight shillings; that

of barley so soon as it rises to twenty…two shillings; and that

of oats so soon as they rise to fourteen shillings。 Those several

prices seem all of them a good deal too low; and there seems to

be an impropriety; besides; in prohibiting exportation altogether

at those precise prices at which that bounty; which was given in

order to force it; is withdrawn。 The bounty ought certainly

either to have been withdrawn at a much lower price; or

exportation ought to have been allowed at a much higher。

     So far; therefore; this law seems to be inferior to the

ancient system。 With all its imperfections; however; we may

perhaps say of it what was said of the laws of Solon; that;

though not the best in itself; it is the best which the

interests; prejudices; and temper of the times would admit of。 It

may perhaps in due time prepare the way for a better。



                           CHAPTER VI



                    Of Treaties of Commerce 



     WHEN a nation binds itself by treaty either to permit the

entry of certain goods from one foreign country which it

prohibits from all others; or to exempt the goods of one country

from duties to which it subjects those of all others; the

country; or at least the merchants and manufacturers of the

country; whose commerce is so favoured; must necessarily derive

great advantage from the treaty。 Those merchants and

manufacturers enjoy a sort of monopoly in the country which is so

indulgent to them。 That country becomes a market both more

extensive and more advantageous for their goods: more extensive;

because the goods of other nations being either excluded or

subjected to heavier duties; it takes off a greater quantity of

theirs: more advantageous; because the merchants of the favoured

country; enjoying a sort of monopoly there; will often sell their

goods for a better price than if exposed to the free competition

of all other nations。

     Such treaties; however; though they may be advantageous to

the merchants and manufacturers of the favoured; are necessarily

disadvantageous to those of the favouring country。 A monopoly is

thus granted against them to a foreign nation; and they must

frequently buy the foreign goods they have occasion for dearer

than if the free competition of other nations was admitted。 That

part of its own produce with which such a nation purchases

foreign goods must consequently be sold cheaper; because when two

things are exchanged for one another; the cheapness of the one is

a necessary consequence; or rather the same thing with the

dearness of the other。 The exchangeable value of its annual

produce; therefore; is likely to be diminished by every such

treaty。 This diminution; however; can scarce amount to any

positive loss; but only to a lessening of the gain which it might

otherwise make。 Though it sells its goods cheaper than it

otherwise might do; it will not probably sell them for less than

they cost; nor; as in the case of bounties; for a price which

will not replace the capital employed in bringing them to market;

together with the ordinary profits of stock。 The trade could not

go on long if it did。 Even the favouring country; therefore; may

still gain by the trade; though less than if there was a free

competition。

     Some treaties of commerce; however; have been supposed

advantageous upon principles very different from these; and a

commercial country has sometimes granted a monopoly of this kind

against itself to certain goods of a foreign nation; because it

expected that in the whole commerce between them; it would

annually sell more than it would buy; and that a balance in gold

and silver would be annually returned to it。 It is upon this

principle that the treaty of commerce between England and

Portugal; concluded in 1703 by Mr。 Methuen; has been so much

commended。 The following is a literal translation of that treaty;

which consists of three articles only。 

                            ART。 I。 

     His sacred royal majesty of Portugal promises; both in his

own name; and that of his successors; to admit; for ever

hereafter; into Portugal; the woollen cloths; and the rest of the

woollen manufactures of the British; as was accustomed; till they

were prohibited by the law; nevertheless upon this condition: 

                           ART。 II。 

     That is to say; that her sacred royal majesty of Great

Britain shall; in her own name; and that of her successors; be

obliged; for ever hereafter; to admit the wines of the growth of

Portugal into Britain; so that at no time; whether there shall be

peace or war between the kingdoms of Britain and France; anything

more shall be demanded for these wines by the name of custom or

duty; or by whatsoever other title; directly or indirectly;

whether they shall be imported into Great Britain in or

hogsheads; or other casks; than what shall be demanded for the

like quantity or measure of French wine; deducting or abating a

third part of the custom or duty。 But if at any time this

deduction or abatement of customs; which is to be made as

aforesaid; shall in any manner be attempted and prejudiced; it

shall be just and lawful for his sacred royal majesty of

Portugal; again to prohibit the woollen cloths; and the rest of

the British woollen manufactures。 

                           ART。 III。 

     The most excellent lords the plenipotentiaries promise and

take upon themselves; that their above named masters shall ratify

this treaty; and within the space of two months the ratifications

shall be exchanged。

     By this treaty the crown of Portugal becomes bound to admit

the English woollens upon the same footing as before the

prohibition; that is; not to raise the duties which had been paid

before that time。 But it does not become bound to admit them upon

any better terms than those of any other nation; of France or

Holland for example。 The crown of Great Britain; on the contrary;

becomes bound to admit the wines of Portugal upon paying only

two…thirds of the duty which is paid for those of France; the

wines most likely to come into competition with them。 So far this

treaty; therefore; is evidently advantageous to Portugal; and

disadvantageous to Great Britain。

     It has been celebrated; however; as a masterpiece of the

commercial policy of England。 Portugal receives annually from the

Brazils a greater quantity of gold than can be employed in its

domestic commerce; whether in the shape of coin or of plate。 The

surplus is too valuable to be allowed to lie idle and locked up

in coffers; and as it can find no advantageous market at home; it

must; notwithstanding any prohibition; be sent abroad; and

exchanged for something for which there is a more advantageous

market at home。 A large share of it comes annually to England; in

return either for English goods; or for those of other European

nations that receive their returns through England。 Mr。 Baretti

was informed that the weekly packet…boat from Lisbon brings; one

week with another; more than fifty thousand pounds in gold to

England。 The sum had probably been exaggerated。 It would amount

to more than two millions six hundred thousand pounds a year;

which is more than the Brazils are supposed to afford。

     Our merchants were some years ago out of humour with the

crown of Portugal。 Some privileges which had been granted them;

not by treaty; but by the free grace of that crown; at the

solicitation indeed; it is probable; and in return for much

greater favours; defence and protection; from the crown of Great

Britain had been either infringed or revoked。 The people;

therefore; usually most interested in celebrating the Portugal

trade were then rather disposed to represent it as less

advantageous than it had commonly been imagined。 The far greater

part; almost the whole; they pretended; of this annual

importation of gold; was not on account of Great Britain; but of

other European nations; the fruits and wines of Portugal annually

imported into Great Britain nearly compensating the value of the

British goods sent thither。

     Let us suppose; however; that the whole was on account of

Great Britain; and that it amounted to a still greater sum than

Mr。 Baretti seems to imagine; this trade would not; upon that

account; be more advantageous than any other in which; for the

same value sent out; we received an equal value of consumable

goods in return。

     It is but a very small part of this importation which; it

can be supposed; is employed as an annual addition either to the

plate or to the coin of the kingdom。 The rest must all be sent

abroad and exchanged for consumable goods of some kind or other。

But if those consumable goods were purchased directly with the

produce of English industry; it would be more for the advantage

of England than first to purchase with that produce the gold of

Portugal; and afterwar
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