There cannot be any fuch thing as a nation flourishing alone in commerce; fhe can. only participate; and the deftruction of it, in any part muft neceffarily affect. all. When therefore Govern ments are at war, the attack is made on the common stock of commerce, and the confequence is the fame as if each had attacked his own.

The present increase of commerce is not to be attributed to minifters, or to any political contriv ances, but to its own natural operations in confequence of peace. The regular markets had been deftroyed, the channels of trade broken up, the high rode of the seas infefted with robbers of every nation, and the attention of the world called to other objects. Those interruptions have ceased, and peace has restored the deranged condition of things to their proper order.

It is worth remarking, that every nation reckons the balance of trade in its own favour; and therefore fomething must be irregular in the common ideas upon this fubject.

The fact, however, is true, according to what is called a balance; and it is from this caufe that commerce is univerfally fupported. Every nation feels the advantage, or it would abandon the practice: but the deception lies in the mode of making up the accounts, and in attributing what are called profits to a wrong cause.

The British minifter has, fometimes, amufed himself by fhewing, what he called a balance of trade from the Cuftom-house books. This mode of calculation not only affords no rule that is true, but one that is falfe.

In the first place, every cargo that departs from the Custom-house appears on the books as an export; and, according to the Cuftom-houfe balance, the loffes at fea, and by foreign failures, are all reckoned on the fide of profit, because they appear as exports.

Secondly, because the importation, by the fimug. gling trade, does not appear on the Custom-houfe books to arrange against the exports.:

No balance, therefore, as applying to fuperior advantages can be drawn from thofe documents; and if we examine the natural operation of commerce, the idea is fallacious; and if true, would foon be injurious. The great fupport of commerce confifts in the balance being a level of benefits among all nations.

Two merchants of different nations trading together, will both grow rich, and each makes the balance in his own favour; confequently, they do

not get rich out of each other; and it is the fame with refpect to the nations in which they refide. The cafe inuft be, that each nation must get rich out of its own means, and increases thofe riches

by

by fomething which it procures from another in exchange.

If a merchant in England, for inftance, fends an article of English manufacture abroad, which coft him a fhilling at home, and imports fomething which fells for two, he makes a balance of one fhilling in his own favour: but this is not gained out of the foreign nation, or the foreign merchant, for he also does the fame by the article he receives, and neither has a balance of advantage upon the other. The original value of the two articles, in their proper countries, were but two fhillings; but by changing their places, they acquire a new idea of value, equal to double what they had, at first, and that increased value is equally divided.

There is no otherwife a balance on foreign than on domeftic commerce. The merchants of London and Newcastle trade on the fame principles as if they refided in different nations, and make their balances in the fame manner: yet London does not get rich out of Newcastle, any more than Newcastle out of London: but coals, the merchandize of Newcastle, have an additional value in London, and London merchandize has the fame at Newcastle.

Though the principle of commerce is the fame, the domeftic in a national view is the part the

moft

most beneficial; because the whole of the advan tages on both fides, rests within the nation; whereas, in foreign commerce, it is only a participation of one half.

The most unprofitable of all commerce is that connected with foreign dominion. To a few individuals it may be beneficial, merely because it is commerce; but to the nation it is a lofs. The expence of maintaining dominion more than abforbs the profits of any trade. trade. It does not increase the general quantity in the world, but operates to leffen it; and as a greater mass would be afloat by relinquifhing dominion, the participation without the expence would be more valuable than a greater quantity with it.

But it is impoffible to engross commerce by dominion; and therefore, it is ftill more fallacious. It cannot exift in confined channels, and neceffarily breaks out by regular or irregular means that defeat the attempt; and to fucceed, would be ftill worse. France, fince the Revolution, has been more than indifferent as to foreign poffeffions; and other nations will become the fame, when they investigate the fubje&t with respect to commerce.

To the expence of dominion is to be added, that of navies; and when the amount of the two are fubftracted from the profits of commerce, it will appear, that what is called the balance of trade,

even

1

even admitting it to exift, is not enjoyed by the nation, but absorbed by the Government.

The idea of having navies for the protection of commerce is delufive. It is putting the means of deftruction for the means of protection. Commerce needs no other protection than the reciprocal interest which every nation' feels in supporting it-it is common stock-it exifts by a balance of advantages to all; and the only interruption it meets is, from the present uncivilized state of governments, and which it is its common intereft to reform.

Quitting this fubject, I now proceed to other matters.As a new fyftem of government ́is now opening to the view of the world, the European courts are plotting to counteract it. Alliances, contrary to all former fyftems, are agitating, and a common interest of courts is forming against the common intereft of man. This combination draws a line that runs throughout Europe, and presents a cause fo entirely new, as to exclude all calculations from former circumftances. While defpotism warred with defpotifm, man had no interest in the conteft; but in a cause that unites the foldier with the citizen, and nation with nation, the defpotifm of courts, though it feels the danger and meditates revenge, is afraid to ftrike.

No queftion has arifen within the records of hif tory, that preffed with the importance of the prefent. It is not whether this or that party fhall be