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freedom¡¡of¡¡trade¡£



¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡CHAPTER¡¡III



Of¡¡the¡¡extraordinary¡¡Restraints¡¡upon¡¡the¡¡Importation¡¡of¡¡Goods¡¡of

almost¡¡all¡¡kinds¡¡from¡¡those¡¡Countries¡¡with¡¡which¡¡the¡¡Balance¡¡is

supposed¡¡to¡¡be¡¡disadvantageous¡¡



¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡PART¡¡I

Of¡¡the¡¡Unreasonableness¡¡of¡¡those¡¡Restraints¡¡even¡¡upon¡¡the

Principles¡¡of¡¡the¡¡Commercial¡¡System¡¡



¡¡¡¡¡¡¡¡¡¡TO¡¡lay¡¡extraordinary¡¡restraints¡¡upon¡¡the¡¡those¡¡particular

countries¡¡with¡¡which¡¡the¡¡importation¡¡of¡¡goods¡¡of¡¡almost¡¡all¡¡kinds

from¡¡balance¡¡of¡¡trade¡¡is¡¡supposed¡¡to¡¡be¡¡disadvantageous£»¡¡is¡¡the

second¡¡expedient¡¡by¡¡which¡¡the¡¡commercial¡¡system¡¡proposes¡¡to

increase¡¡the¡¡quantity¡¡of¡¡gold¡¡and¡¡silver¡£¡¡Thus¡¡in¡¡Great¡¡Britain£»

Silesia¡¡lawns¡¡may¡¡be¡¡imported¡¡for¡¡home¡¡consumption¡¡upon¡¡paying

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warehoused¡¡for¡¡exportation¡£¡¡Higher¡¡duties¡¡are¡¡imposed¡¡upon¡¡the

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other¡¡country¡£¡¡By¡¡what¡¡is¡¡called¡¡the¡¡impost¡¡1692£»¡¡a¡¡duty¡¡of

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French¡¡goods£»¡¡while¡¡the¡¡goods¡¡of¡¡other¡¡nations¡¡were£»¡¡the¡¡greater

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same¡¡law¡£¡¡In¡¡1696£»¡¡a¡¡second¡¡duty¡¡of¡¡twenty¡­five¡¡per¡¡cent£»¡¡the

first¡¡not¡¡having¡¡been¡¡thought¡¡a¡¡sufficient¡¡discouragement£»¡¡was

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which¡¡the¡¡greater¡¡part¡¡of¡¡the¡¡goods¡¡of¡¡the¡¡growth£»¡¡produce£»¡¡or

manufacture¡¡of¡¡France¡¡were¡¡liable¡£¡¡But¡¡upon¡¡the¡¡greater¡¡part¡¡of

goods£»¡¡those¡¡duties¡¡are¡¡equivalent¡¡to¡¡a¡¡prohibition¡£¡¡The¡¡French

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particular¡¡hardships¡¡which¡¡they¡¡have¡¡imposed¡¡upon¡¡them¡£¡¡Those

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goods¡¡into¡¡Great¡¡Britain¡£¡¡The¡¡principles¡¡which¡¡I¡¡have¡¡been

examining¡¡in¡¡the¡¡foregoing¡¡chapter¡¡took¡¡their¡¡origin¡¡from¡¡private

interest¡¡and¡¡the¡¡spirit¡¡of¡¡monopoly£»¡¡those¡¡which¡¡I¡¡am¡¡going¡¡to

examine¡¡in¡¡this£»¡¡from¡¡national¡¡prejudice¡¡and¡¡animosity¡£¡¡They¡¡are£»

accordingly£»¡¡as¡¡might¡¡well¡¡be¡¡expected£»¡¡still¡¡more¡¡unreasonable¡£

They¡¡are¡¡so£»¡¡even¡¡upon¡¡the¡¡principles¡¡of¡¡the¡¡commercial¡¡system¡£

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balance¡¡of¡¡its¡¡whole¡¡trade¡¡would¡¡thereby¡¡be¡¡turned¡¡more¡¡against

it¡£¡¡If¡¡the¡¡wines¡¡of¡¡France¡¡are¡¡better¡¡and¡¡cheaper¡¡than¡¡those¡¡of

Portugal£»¡¡or¡¡its¡¡linens¡¡than¡¡those¡¡of¡¡Germany£»¡¡it¡¡would¡¡be¡¡more

advantageous¡¡for¡¡Great¡¡Britain¡¡to¡¡purchase¡¡both¡¡the¡¡wine¡¡and¡¡the

foreign¡¡linen¡¡which¡¡it¡¡had¡¡occasion¡¡for¡¡of¡¡France¡¡than¡¡of

Portugal¡¡and¡¡Germany¡£¡¡Though¡¡the¡¡value¡¡of¡¡the¡¡annual¡¡importations
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