'Considerations upon Trade'

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Considerations upon Trade

The french are poor & work cheaper then the English & therefore will not buy much of ye English manufactures where they can have a good of their own. But the English will by {sic} much of the French manufactures because of their cheapness & must pay the ballance {illeg}of trade in money. The case is much the same as that of or trade wth India whose manufactures by reason of their cheapness carry away our silver & hinder the consumption of or own manufactures.

We can have no bullion but from the West Indies belonging to Spain & Portugal. The question is whether {illeg}we shall trade with those nations immediately for bullion, or by the mediation of France.

In the reign of K. Cha I, while England furnished the Spaniards in their warrs in Flanders the c{illeg}oinage was very great amounting to about 8 millions In the twelve years between {illeg}the death of K. Cha: I & the return of K. Cha: II the cross & Harp money amounted not to more then 6800,000li wch is less then 70,000li pr an at a medium. Soon after it encreased till in ye last 10 years of K. Cha: II & {illeg}K Ia: II it amounted to above 500,000li pr an. Then by ye French war it fell to {illeg}200,000li per an in gold at a medium. In ye four years between ye first & second French wars it amounted to 450,000li per an at a medium. In the first seix years of ye 2d French war by the want of ye Spanish trade it fell to about 24,000li pr an, & afterwards by the Portugal & Iamaica trade increased so as at prsent to be aboveut 2300,000 pr an, & therefore is as good as ever, & by the addition of the Spanish trade will be better then ever if the French trade do not abate it.

The French manufactures of Linnen & Silk have formerly amounted to above 800,000li pr an, their {illeg}wines & Brandies to above 200,000li {illeg}their {illeg}other {illeg}commodities to above 100,000li. Where shall we have manufactures & other commodities to ballance this trade, over & above what will be necessary to carry on or trade wth P{illeg}ortugal Spain & the West Indies for Bullion.

What need is there of a trade between England & France for manufactures of Silk & woollen. Abate this trade & the rest will not must hurt us.