will depend much upon the credit of the inhabitants, and upon the prefervation of their property.

What a new phenomenon in Bengal, a Shroff director of a bank, from a bloodfucker, is become the protector of the labouring man! Intereft does all; he fucks the blood because it is his interest so to do; he gives his protection from the fame motive: by directing the intereft of individuals to a proper object, good government is eftablished.

The foreign trade of Bengal is what alone can increafe her wealth, or, at least, keep the cistern full, in fpight of its many leaks.

It is a general maxim, that exportations enrich a country, and that importations impoverish it; but this is to be understood in the way of trade.

The exportations made from Bengal by the Eaft-India Company do not enrich it, any more than the importation of the

fpoils of the world impoverished ancient

Rome.

The foreign trade of Bengal, as I am now to confider it, confifts in the raw materials for their manufactures, and in that part of fuch manufactures as is fold for money brought into the country.

The raw materials are principally cotton, cotton-yarn, and filk. The trade in thefe articles ought at least to be free, not clogged with any duty, left entirely in the hands of the natives, and every protection and encouragement fhould be given to those who are concerned in it: even bounties might be granted if neceffary.

That the manufactures of Bengal need encouragement, is certain, fince the quality of goods is faid to be inferior to what it was fome years ago, while the prices are higher, and the fupply lefs; this never can be the operation of trade; it must proceed from fome internal defect, which ought to be well examined into, and its causes removed.

That the investments of the Company should be made in the best goods and the choice of the market, is just and reasonable; but care fhould be taken to prevent the Company's fervants from becoming the purchafers of what remains, with a view to make a profit upon it in the retail to ftrangers.

I do not object against this purchase becaufe a profit upon it does arife to the fervants of the Company; this, in my opinion, fhould rather be a reafon for approving it, both in favour of the fervants, and because it is a drawback upon the profits of those who rival the Company in its trade: but when we confider Bengal to be a country belonging to the Company, expofed to many drains in confequence of this property, and to one among the reft not inconfiderable, viz. the price paid for the raw materials of all the goods exported by the Company without any profit to Bengal, it will be expedient to encourage as much as poffible the fale of all that is over the investments of the Company, in fuch a way as to increase the demand of

ftrangers, which cannot be fo well ac complished, as by leaving a reasonable profit both to manufacturers and to foreign merchants. Had, indeed, Bengal no occafion for foreign refources, I fhould propofe no farther restrictions on the Company's fervants in buying up goods upon their pri vate account, than what might be neceffary for the protection of the manufactures.

To enter particularly into the regulations proper to be made with refpect to the trade of Bengal, requires the most intimate knowledge of the fate of every branch of it: I fhall, therefore, content myself with fuggefting the objects of fuch regulations. These I take to be,

Firft, The branch of importations by the Company. As to this, the regulations will relate to the public fales of the goods imported, and to the rules to be followed by all thofe who are to vend fuch goods in every part of the country. Uniformity must here be obferved: if every purchaser be not intitled to the fame freedom; if every purchafer be not subjected

B b

to the fame duties upon retail; and if these liberties and these burdens be not exactly fpecified; this branch of trade will never flourish as it ought to do, for the emolument of the Company and the ready supply of the confumer: and as I am informed that there is very little abuse in this particular branch of trade, it will ferve as a good model for regulating the rest.

Secondly, The investments of the Company for the European market. Here all proper encouragement must be given to manufacturers: if it be thought proper to accept of part of the rents of the lands in goods, fuch goods must be of a determinate kind, fo as to come under a regulation of prices; and although the nature and the profpérity of trade require freedom on all hands, ftill this freedom is not incompatible with; fuch regulations as may infure to the manufacturer the prices and profits which the Company suppose to be confiftent with the intereft of their own trade, and fufficient to produce a living profit to their industrious fubjects, which from abuses they are sometimes deprived of.