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profperity and opulence of a country; great numbers of induftrious people; a rich commonalty; money at low intereft; and land at a great value.

Nevertheless, there were affuredly events, during the reign of George I. which caft a gloom over the nation, and obftructed general profperity. The perfecutions of the great, on the acceffion of a new family, which were followed by the tumults of the mean, ought to give a lesson of moderation; fince they were attended with no good confe

quences to the state. The fubfequent rebellion

of 1715 brought with it a twelvemonth of diftraction, without leaving the terrors of example. And the war with Spain, in 1718, obftructed our Mediterranean commerce, as every war with that kingdom must continue to do, while Gibraltar, the great cause of hoftilities, remains, and bids the Spaniards defiance. But, it was the infamous year 1720, which diverted all claffes to projects and bubbles, that ought to be blotted from our annals, if they did not form remarkable beacons to direct our future course.

Of this reign it is the characteristic, that though in no period were there fo many laws enacted, for promoting domestic and foreign trade, yet, at no time did, both profper lefs, during thofe days of captious peace, rather than avowed hoftilites. The treaty of commerce with Spain, in 1715, must have inspired our traders with fresh vigour. The law which, in 1718, prohibited any British fubject from carrying on traffic to the Eaft under

foreign

foreign commiffions, turned their ardour upon more invigorating o jects, by preventing productive capital from being fent abroad. The meafure of allowing the exportation of British-made linen, duty-free, in 1717, gave us a manufacture, which is faid, even then, to have employed many thousands of the poor. And the fisheries were encouraged by bounties, which must have multiplied the important race of our mariners.

The falutary laws, which were made for incit ing domestic industry, were doubtlefs more efficacious in the fubfequent reign, than they were felt, in any great degree, during the prefent. The manufactories of iron, of brafs, and of copper, being confidered as the third in extent, fince they employed, as it is faid, in 1719, two hundred and thirty thousand perfons, were promoted with the attention, which was due to their importance. The continued encouragement, that had been given to the fabrics of filk, and the erection of the vast machine of Lomb, in 1719, had raised the annual value of this manufacture to £.700,000, in 1722, more, as it is stated, than it had yielded at the Revolution.

But, the year 1722 must always form an epoch, as memorable for a great operation in commercial policy, as the establishment of the finking fund had been in finance, a few years before. The Parliament had indeed, in 1672, withdrawn the duties, which were then payable by aliens, on the exportation of our own manufactures. This falutary principle

principle was ftill more extended, in 1700, by removing the impofts on every kind of woollen goods, that fhould be thereafter fent abroad. It was however by the law for the further encouragement of manufactures, that every one was allowed to export duty-free all merchandizes, the produce of Great Britain, except only fuch articles, as should be deemed materials of manufacture; while drugs, and other goods used for dying, were equally permitted to be imported duty-free. And other facilities were at the fame time given to trade, whilst the fifheries were promoted by bounties.

After enumerating all preceding measures of encouragement, Anderson* remarks, in 1727, that nothing can more obviously demonftrate the amaz, ing increase of England's commerce, in lefs than two centuries paft, than the great growth of its manufacturing towns, fuch as Liverpool, Manchefter, Birmingham, and others; which are still increasing in wealth, people, bufinefs, and buildings. Yet, Lord Molefworth † complained, in 1721, "that we are not one-third peopled, and our stock of men daily decreases through our wars, plantations, and fea-voyages." His lordfhip was arguing, when he made this obfervation, for a general naturalization, a policy of very doubtful merit, because in all fudden change there

Chron. Com. vol. ii. p. 314.

Pref. to his tranflation of Hottoman's Franco-Gallia, 2d edit. p. 23-4.

is confiderable inconvenience; and he may have therefore been biaffed by his principle. If this nobleman intended to add his teftimony to an apparent fact, that he faw no labourers to' hire, his evidence would only prove, that the induftrious claffes were fully employed; and employment never fails to promote population. If his lordship only meant to give vent to his laudable anxieties for his country, this circumftance would lead us to infer, that great as well as little minds are too apt to complain of the miseries of the prefent.

When we our betters fee bearing our woes,
We scarcely think our miferies our foes.

CHAP

CHAP. VII.

The State of the Nation at the Acceffion of George II.Remarks thereon.-The Increase of Trade and Shipping.-Complaints of their Decline.-Reflections.— Our Strength when War began in 1739.-Our Trade and Shipping during the War.-The Profperity of both at the Restoration of Peace.-Complaints of Decline.-Remarks.

TH

HE reign of George II. with whatever finifter events it opened, will be found to have promoted greatly, before its fuccefsful end, the industry and productive capital of the nation; and confequently, the efficient numbers of the people, by the means of augmented employments.

He found his kingdom burdened with a funded debt of rather more than fifty millions; which required annually, from the land and labour of the nation, taxes to the amount of two millions and upwards, to pay the creditor's annuity.

But, as his predeceffor reduced, ten years before, the interest payable on the public debts, from fix per cent. to five, the adminiftration of the prefent King made a further reduction, with the consent of all parties, from five per cent. to four, in 1727. These measures, which the fortunate circumstances

of

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