most degree the religious and political opinions of ftrangers, as well as their manners and cuftoms.

To obtain the preference in exterior Commerce, neither treaties, regulations nor force must be depended upon. Force has but a momentary effect. It deftroys that even which it means to protect. Treaties and regulations are useless, if the interests of two nations do not invite them to a mutual intercourfe. They are ineffectual, if that attraction does not exist. Treaties, regulations, force, all yield to the impulse or nature of things

This force of things in commerce, is but the refult of the circumftances in which two nations are, which attract one towards the other, and oblige

Force of things. The political law which governs all, in poli tics, as in phyfics. There is a general force whofe action is manifeft, which, in spite of wars, treaties, and the manoeuvres of cabinets, governs all events, and carries away men and nations in its course. It is this force of things which overturned the Roman empire, when it flood upon a bafis difproportioned to its mafs; which in the 14th century took from the English one half of France, and in the 18th, has taken from them half of the new world ;—which delivered Holland from the yoke of Spain, and Sweden from that of Denmark. It is this force which deftroyed the projects of fuch conquerors as Charlemagne Gengis and Nadir. They ran from place to place; they destroyed mankind to build empires. These empires died with them. This force acts upon commerce as upon revolutions. It is that which, by the difcovery of the Cape of Good Hope, bereaved the Venetians of their trade to the Indies, and made it pass over fuceffively to the Portuguese, the Dutch, the English and the French. Finally, it is the force of things which will decide the great queftion of the commerce of America.

them

1

1

them to enter into an alliance, rather than with any other nation. These terminate in their mutual intereft it is therefore neceffary, in order to create a perpetual commerce between two countries, to give each of them a preponderating interest fo to do.

CHAP.

С НА Р. II.

Of exterior Commerce, confidered in its Means of Exchange,

WE

and its Balance.

E are deceived in believing that commerce, cannot be established between two nations without gold or filver to balance their accounts. It will be intereftirg to enter into fome detail on this head, on account of the deficiency of coin in the United States, and the neceffity of reducing themselves to the commerce of exchange, being the two principal objections ignorantly brought against a trade with them*.

It

*The fcarcity of money in the united states of America, has been greatly exaggerated in France. It must be fcarce in all new states, where nothing fhackles induftry, where fo many things are to be created, and where, in every quarter, there are fuch quantities of lands to be cleared. In order that money fhould be plenty in this ftate of creation, mines would be neceffary; and at the fame time a want of hands and induftry clogged with impediments, circumstances much more unfavourable to foreign commerce, than the scarcity of money in an active and industrious country. One fact fems to prove to us, that in independent America, money is found in the moft defirable proportion to population, at least by taking Europe for the term of comparison. Contracts esteemed good, and of which the

interest

It has been frequently afferted that the balance will be against them; that they can only offer an exchange of merchandise. It is therefore neceffary to prove that this great word, balance, is infignificant; that a great commerce may be carried on without money, and that one of exchange is the moft advantageous of any.

When a nation pays, with money, the whole, or the balance of its importations, it is faid the balance of trade is against it, by which a difadvantageous ideas of its pofition is meant to be given. This is a prejudice easy to be overturned, although entertained by men celebrated for their knowledge.

it

In effect, whence comes to this country the gold it pays? It is either from its mines, and in that cafe, pays with one of its own productions; or it owes it to artificers who exercife their functions in a foreign country, and even then it pays with a production which originates within its dominions. As long as a nation pays another, directly or indirectly with its own productions, its position cannot be difadvantageous. Therefore the unfavourable word balance, thus attached to the balance of

intereft is regularly paid, are fold there at the rate of fix per cent per Annum. Yet the cle aring of lands muft produce a much greater benefit; why then is not all the money fwallowed up? why remains there enough of it to fulfill thefe contracts, which produce no more than five or fix per cent. Is it not because money is not fo fcarce there as people in France imagine? Where the actual state of the Americans is confounded with the diftrefs, in which they were, when they combated for their liberty.

an

an account paid in money, offers no exact and nice idea of the favourable or unfavourable ftate of a

nation.

Gold is alfo à merchandife, and it may be convenient to one nation according to its relations or connections with another, to pay with money, without its having, for that reason, an unfavourable balance against it.

There is but one cafe wherein the balance against a nation can be declared; it is, that when having exhausted its money and treasures, it remains debtor to another nation. But things could not remain long in this ftate; fo wretched a foil, unequal to the confumption and exchange of its inhabitants, would foon be abandoned; this, however, cannot happen. Importation prefently becomes in proportion to exportation; an equilibrium is established, and the pretended unfavourable balance has not duration enough to give a right of fuppofing even its exiftence.

There is as little truth and juftice in saying a nation has the balance of trade in its favour, when it receives in money balances due to it upon the amount of its exportations. This balance, exifting for a certain time, would heap up fpecie in the country, and at length render it very miferable. This has never been the cafe, yet it would have happened if this fyftem had the leaft foundation.

The circulation of money depends on two many causes to deduce from its abundance a certain fign

of