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    .But it does not become bound to admit them upo aany better terms than those of any other nation, of France o HHolland for example.The crown of Great Britain, on the contrary bbecomes bound to admit the wines of Portugal upon paying onl ttwo-thirds of the duty which is paid for those of France, th wwines most likely to come into competition with them.So far thi ttreaty, therefore, is evidently advantageous to Portugal, an ddisadvantageous to Great Britain.It has been celebrated, however, as a masterpiece of th ccommercial policy of England.Portugal receives annually from th BBrazils a greater quantity of gold than can be employed in it ddomestic commerce, whether in the shape of coin or of plate.Th ssurplus is too valuable to be allowed to lie idle and locked u iin coffers, and as it can find no advantageous market at home, i mmust, notwithstanding any prohibition, be sent abroad, an eexchanged for something for which there is a more advantageou mmarket at home.A large share of it comes annually to England, i rreturn either for English goods, or for those of other Europea nnations that receive their returns through England.Mr.Barett wwas informed that the weekly packet-boat from Lisbon brings, on wweek with another, more than fifty thousand pounds in gold t EEngland.The sum had probably been exaggerated.It would amoun tto more than two millions six hundred thousand pounds a year wwhich is more than the Brazils are supposed to afford.Our merchants were some years ago out of humour with th ccrown of Portugal.Some privileges which had been granted them nnot by treaty, but by the free grace of that crown, at th ssolicitation indeed, it is probable, and in return for muc ggreater favours, defence and protection, from the crown of Grea BBritain had been either infringed or revoked.The people ttherefore, usually most interested in celebrating the Portuga ttrade were then rather disposed to represent it as les aadvantageous than it had commonly been imagined.The far greate ppart, almost the whole, they pretended, of this annua iimportation of gold, was not on account of Great Britain, but o oother European nations; the fruits and wines of Portugal annuall iimported into Great Britain nearly compensating the value of th BBritish goods sent thither.Let us suppose, however, that the whole was on account o GGreat Britain, and that it amounted to a still greater sum tha MMr.Baretti seems to imagine; this trade would not, upon tha aaccount, be more advantageous than any other in which, for th ssame value sent out, we received an equal value of consumabl ggoods in return.It is but a very small part of this importation which, i ccan be supposed, is employed as an annual addition either to th pplate or to the coin of the kingdom.The rest must all be sen aabroad and exchanged for consumable goods of some kind or other BBut if those consumable goods were purchased directly with th pproduce of English industry, it would be more for the advantag oof England than first to purchase with that produce the gold o PPortugal, and afterwards to purchase with that gold thos cconsumable goods.A direct foreign trade of consumption is alway mmore advantageous than a round-about one; and to bring the sam vvalue of foreign goods to the home market, requires a muc ssmaller capital in the one way than in the other.If a smalle sshare of its industry, therefore, had been employed in producin ggoods fit for the Portugal market, and a greater in producin tthose fit for the other markets, where those consumable goods fo wwhich there is a demand in Great Britain are to be had, it woul hhave been more for the advantage of England.To procure both th ggold, which it wants for its own use, and the consumable goods wwould, in this way, employ a much smaller capital than a ppresent.There would be a spare capital, therefore, to b eemployed for other purposes, in exciting an additional quantit oof industry, and in raising a greater annual produce [ Pobierz całość w formacie PDF ]
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