wealbk04-第26章

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national　debt。　But　the　national　debt　has　most　assuredly　not　been

the　cause　of　it。

　　　　　Though　the　system　of　laws　which　is　connected　with　the　bounty

has　exactly　the　same　tendency　of　tendency　with　the　police　of

Spain　and　Portugal；　to　lower　somewhat　the　value　of　the　precious

metals　in　the　country　where　it　takes　place；　yet　Great　Britain　is

certainly　one　of　the　richest　countries　in　Europe；　while　Spain　and

Portugal　are　perhaps　among　the　most　beggarly。　This　difference　of

situation；　however；　may　easily　be　accounted　for　from　two

different　causes。　First；　the　tax　of　Spain；　the　prohibition　in

Portugal　of　exporting　gold　and　silver；　and　the　vigilant　police

which　watches　over　the　execution　of　those　laws；　must；　in　two　very

poor　countries；　which　between　them　import　annually　upwards　of　six

millions　sterling；　operate　not　only　more　directly　but　much　more

forcibly　in　reducing　the　value　of　those　metals　there　than　the

corn　laws　can　do　in　Great　Britain。　And；　secondly；　this　bad　policy

is　not　in　those　countries　counterbalanced　by　the　general　liberty

and　security　of　the　people。　Industry　is　there　neither　free　nor

secure；　and　the　civil　and　ecclesiastical　governments　of　both

Spain　and　Portugal　are　such　as　would　alone　be　sufficient　to

perpetuate　their　present　state　of　poverty；　even　though　their

regulations　of　commerce　were　as　wise　as　the　greater　part　of　them

are　absurd　and　foolish。

　　　　　The　13th　of　the　present　king；　c。　43；　seems　to　have

established　a　new　system　with　regard　to　the　corn　laws　in　many

respects　better　than　the　ancient　one；　but　in　one　or　two　respects

perhaps　not　quite　so　good。

　　　　　By　this　statute　the　high　duties　upon　importations　for　home

consumption　are　taken　off　so　soon　as　the　price　of　middling　wheat

rises　to　forty…eight　shillings　the　quarter；　that　of　middling　rye；

pease　or　beans；　to　thirty…two　shillings；　that　of　barley　to

twenty…four　shillings；　and　that　of　oats　to　sixteen　shillings；　and

instead　of　them　a　small　duty　is　imposed　of　only　sixpence　upon　the

quarter　of　wheat；　and　upon　that　of　other　grain　in　proportion。

With　regard　to　all　these　different　sorts　of　grain；　but

particularly　with　regard　to　wheat；　the　home　market　is　thus　opened

to　foreign　supplies　at　prices　considerably　lower　than　before。

　　　　　By　the　same　statute　the　old　bounty　of　five　shillings　upon

the　exportation　of　wheat　ceases　so　soon　as　the　price　rises　to

forty…four　shillings　the　quarter；　instead　of　forty…eight；　the

price　at　which　it　ceased　before；　that　of　two　shillings　and

sixpence　upon　the　exportation　of　barley　ceases　so　soon　as　the

price　rises　to　twenty…two　shillings；　instead　of　twenty…four；　the

price　at　which　it　ceased　before；　that　of　two　shillings　and

sixpence　upon　the　exportation　of　oatmeal　ceases　so　soon　as　the

price　rises　to　fourteen　shillings；　instead　of　fifteen；　the　price

at　which　it　ceased　before。　The　bounty　upon　rye　is　reduced　from

three　shillings　and　sixpence　to　three　shillings；　and　it　ceases　so

soon　as　the　price　rises　to　twenty…eight　shillings　instead　of

thirty…two；　the　price　at　which　it　ceased　before。　If　bounties　are

as　improper　as　I　have　endeavoured　to　prove　them　to　be；　the　sooner

they　cease；　and　the　lower　they　are；　so　much　the　better。

　　　　　The　same　statute　permits；　at　the　lowest　prices；　the

importation　of　corn；　in　order　to　be　exported　again　duty　free；

provided　it　is　in　the　meantime　lodged　in　a　warehouse　under　the

joint　locks　of　the　king　and　the　importer。　This　liberty；　indeed；

extends　to　no　more　than　twenty…five　of　the　different　ports　of

Great　Britain。　They　are；　however；　the　principal　ones；　and　there

may　not；　perhaps；　be　warehouses　proper　for　this　purpose　in　the

greater　part　of　the　others。

　　　　　So　far　this　law　seems　evidently　an　improvement　upon　the

ancient　system。

　　　　　But　by　the　same　law　a　bounty　of　two　shillings　the　quarter　is

given　for　the　exportation　of　oats　whenever　the　price　does　not

exceed　fourteen　shillings。　No　bounty　had　ever　been　given　before

for　the　exportation　of　this　grain；　no　more　than　for　that　of　pease

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