We may begin by observing, that before the War our mercantile
Character was good. In Proof of this (and a stronger Proof can
hardly be desired), the Votes of the House of Commons in 1774-5 have
recorded a Petition signed by the Body of the Merchants of London
trading to North America, in which they expressly set forth, not only
that the Trade was profitable to the Kingdom, but that the
Remittances and Payments were as punctually and faithfully made, as
in any other Branch of Commerce whatever. These Gentlemen were
certainly competent Judges, and as to that Point could have no
Interest in deceiving the Government.
The making of these punctual Remittances was however a
Difficulty. Britain, acting on the selfish and perhaps mistaken
Principle of receiving nothing from abroad that could be produced at
home, would take no Articles of our Produce that interfered with any
of her own; and what did not interfere, she loaded with heavy Duties.
We had no Mines of Gold or Silver. We were therefore oblig'd to run
the World over, in search of something that would be receiv'd in
England. We sent our Provisions and Lumber to the West Indies, where
Exchange was made for Sugars, Cotton, &c.
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