they have in fome measure formed the habitude, and which become common to every nation, must be regulated according to the relations which existed between England and America, is here in queftion.

If our criticifin appears sometimes roughly expreffed, our readers will be fo good as to confider, that friends to public welfare, can but with difficulty refrain from being moved by the aspect of certain abuses, and from fuffering the fentiment of indignation which it excites in them to break forth.

Notwithstanding the numerous precautions we have taken to come at truth; notwithstanding the extreme attention we have given to this work, errors will undoubtedly be found in fome of the ftatements, and perhaps in the reafonings. Whether they be publicly difcuffed, or that we are privately informed of them, we fhall fee thefe refutations with pleasure; we shall joyfully receive thefe obfervations, and if they be well founded, we fhall be eager to retract. This is but a fimple effay on an important fubject. It may become a good work by the aid of a concourse of lights.

Before

Before we entered into the examination of the affinities of commerce which ought to unite France and the confederated States of America, it appeared to us indifpenfably neceffary to lay down the general principles which ought to direct the exterior commerce of nations; because this matter leaves, by its complication, an easy access to error. Few minds having the force or habitude of generalifing, fuffer themselves to be feduced by separated or accidental facts, or by false maxims fupported by a great name. The principles we have laid down overturns fome of them. Those who feek after truth ought therefore to meditate them, and not to regret the time which they may give to thefe abftractions on commerce. It is a thread which will prevent them from going aftray.

Paris April 1, 1787.

CON

CONSIDERATIONS, &c.

CHA P. I.

Of Exterior Commerce; the Circumstances which led to its and of the Means of affuring it to a Nation.

COMM

'OMMERCE is an exchange of productions, either by barter or by reprefentative figns of their value.

Exterior Commerce is that carried on between two or more nations.

It fuppofes in them mutual wants, and a furplus of productions correspondent thereto.

Nations, which nature or the force of things invites to a commercial intercourse, are thofe which have that correfpondence of wants and furplus of productions.

This fimilarity enables them to trade together, directly or indirectly: a direct Commerce is that

which exifts between two nations, without the intervention of a third.

Commerce is indirect, when one nation trades with another by means of a third. This is the cafe of states which have no fea-ports, and yet wish to exchange their productions for those of the Indies.

That nation, which having it in its power to

carry on a direct Commerce with another, yet makes use of an intermediate one, is neceffarily obliged to divide its profits. However, this disadvantage may sometimes be compensated by other confiderations.

Such for inftance, is the cafe of a nation, which in want of husbandmen and manufacturers, prefers that ftrangers should themselves come in search of its fuperfluities, and bring in exchange those of others: Its wants of population impofes this law, and whilst these confiderations exift, it is both morally and phyfically better, that its inhabitants fhould be employed in cultivation, than become carriers of their own national productions, or of thofe of others

It is impoffible that nations, which already have communications with each other, fhould be ignorant of their mutual productions*. Hence arises the defire

* A Nation, which fhould conftantly refufe a direct Commerce, and at the fame time give proofs of activity and industry within itself, would fooner or later be obliged by the excefs of its population and continued use of its interior productions, to give into an exterior,

and

defire of acquiring them in thofe where they do not exist. Hence direct or indirect Commerce, which is confequently the inevitable refult of the ftate of things.

From the fame principle, it is the interest of each nation to render its exterior Commerce direct as foon as poffible, without doing an injury to its interior trade.

Direct importations, not being fubject to the expences and commiffions of agents, procure things at a cheaper rate.

A moderate price is the fureft means of obtain ing an exterior Commerce, the best reason for preference and the guarantee of its continuation *.

and direct Commerce, without which its excefs would re-act upon itself in a fatal manner, as well to its tranquillity as to its revenues, This is one of the strongest confiderations which can justify exterior Commerce.

* It is vulgarly said that a thing is dear when once it is above the accustomed price; and it is efteemed cheap the moment that price is diminished.

5th. the proportion of its Thefe circumftances in

By this it feems that the dearnefs of a thing is the comparison of its stated, with its ufual price. The laft is determ ned by five principal circumstances. ft. the cost of the raw mater al. 20. that of the workmanship. 3d. the want the confumer has of the thing. 4th. the means he has of paying for it. quantity with the demand there is for it. crease or diminish the profit of the feller; fometimes indeed they may prevent him from gaining at all. Circumstances, which influence the moft, are scarcity and abundance, expreffions by which the proportion between the want and the quantity of productions are defignated. If ther be a furplus of them, they are naturally fold at a low price. Whence it appears, that nations having great quantities of

raw