ded, enter not into your eftimate; as, in your practice, you think it quite fufficient to re-carol the Cuck Jamaica. owes 1779. With convoy 7 to 8 Guineas; without 15 a. 20 Guineas. 1782. 8, 10, and 15 Guineas with convoy.-Premiums higheft in the beginning of the season. 1792. £.2 per cent.--1793. January, 3 Guineas; February, 5 Guineas, and 7 Guineas; April, 8 Guineas; June, 4 a. 6 Guineas, with convoy. Leeward Islands. 1779. With convoy 7 a. 8 Guineas, without convoy 16 Guineas. 1782. From 8 to 12 Guineas with convoy.-Premiums highest in the first part of the feafon." 1792. £.2.-1793 January, 2 to 3 Guineas; February, 10 Guineas; March, 5 Guineas, with convoy. 5 Guineas per cent. the general rate throughout the season, with convoy. Canada. 1779. With convoy, 10 Guineas; without convoy, 15 Guineas per cent. 1782. 15 Guineas with convoy.-1792. £.3 to 3 Guineas, throughout the feafon. 1793. 5 to 6 Guineas with convoy. American States. 1782. 15 Guineas with convoy in general throughout the season. 1792. £.2 in general. 1793. January, £.2; February 4th to 9th, 3 Guineas, 4 Guineas, and 5 Guineas; 23d, 8 Guineas; March, 8 Guineas, and 5 Guineas, American fhips only. The owes fonge, in proving things doubtful, by things as doubtful. * the In this fpirit it is, that you controvert great pofition, which I had fo clearly established, in the following Eftimate, "that there is a point of "depreffion, to which the commerce of this coun"try may fink, in confequence of war; yet, that "from this point, as in former wars, it will naturally "return." You fay t," this fuppofition is dangerous, as well as, fallacious." But, why is it a fuppofition? for, I have established it, as a true principle, from fact and experiment. Why is this principle dangerous? for, I have fhown from a thoufand circumftances, that it is confoling. Why is it fallacious? for, I have fixed it as a truth, that what has always occurred, will again occur; as the feafons follow, in their conftant courfe. You, in general rate throughout the reft of the feafon 3 Guineas. The Baltic. 1779. 2 Guineas with convoy, 5 Guineas without.-1782. 4 to 5 Guineas with convoy. 1792. 1 Guinea to St. Petersburg, .1 to 1 to Stettin. 1793. March, 3 Guineas with convoy to Stettin; 6 Guineas without. April, 2 Guineas with convoy to St. Peterburg; and 5 Guineas without. July, to St. Petersburg, 3 Guineas, to return per cent. if with convoy, which was the general rate throughout the rest of the feafon. • In page 65. + Page 65. deed, deed, again repeat, the progress of our debts and taxes; the locking up of capital in foreign debts; the growing poverty; the general bankruptcy, over Europe; the war-fyftem, and the funding-fyftem. Why; would not your great-great-grandfather, Doctor Wilfon, call this repetition of things doubtful, a repetitio principii, or a cuckowes fonge! I will again try what influence fact and experimant, will have on your philofophy, by giving you a new view of the subject. The value of British manufactures, which were yearly ex- Do, according to a three years average, ending £.5,277,015 15,800,826 Now, did not every one of your caufes of decline exift, through the whole of that period, when we were much less able to bear burdens, and to fuftain loffes? Yes. But, let us trace the progrefs of that vaft increase, in order to fee the operation of your causes, and to behold the truth of my deduction. The value of British manufactures, which were exported from England, according to a three years average, ending with 1701 £.5,277,015 That value fell, in 1711, to the lowest point 4,088,488 That value rofe, according a three years average, ending with 1716, to 5,128,818 This value fell, in 1718, to 4,380,95 This value rofe, according to a three years aver age, ending with 1738, to 6,655,852 C 4 This This value fell, in 1740, to the lowest point This value rofe, according to a three years average, ending with 1751, to This value fell, in 1755, the lowest point, to This value rofe, according to a three years ave- This value fell to the lowest point, in 1781 £•4,111,297 9,109,946 6,192,107 10,450,345 8,984,094 11,075,099 7,042,996 10,977,728 Yet, you continue, like the raven on Macbeth's battlements, to repeat till, you are boarfe with croaking, that our customers did not purchase, and our manufactures remained on hand, before, and when, the prefent war, began *. From the foregoing detail, my deduction is that, what has often happened will again happen; that our exports may be depreffed by the war to its lowest point, but will rife, before the return of peace, to a greater extent than ever. This you declare to be a fuppofition, dangerous, and fallacious. In making that deduction, I argued from experience: in forming your affertion, you talk from doubtful things. During this rencounter, in which you often renewed the dextrous fight, I have with my facts In page 13-16. thruft 1 thrust you through and through, a thoufand times. -Though pierc'd with wound, Soon clofing, is by native vigour heal'd. I will fummon Milton to my aid. With his fpear, Till warn'd, or by EXPERIENCE taught, she learn, And renders us in things, that most concern, Had your mind roved lefs; had your experience taught more; you had been lefs unprepared, and not still to seek, as to our commerce and manufactures, the calamities of which, you fay*, are great beyond example. It is unneceffary to prove this, you immediately add, in your own ftyle of probation. If this, however, be afferted of our manufactures, and commerce, during the year 1792, when both Page 2. were |