THE GREAT HONOUR AND ADVANTAGE OF THE East-India TRADE TO THE KINGDOM, Asserted.  
LONDON, Printed for Thomas Speed at the Three Crowns near the Royal-Exchange in Cornhill, 1697.   

TO THE Honourable the Governor, to the Right Worshipful the Deputy Governor, and to the Worshipful the Committee of the Honourable the East-India Company.  
May it please your Honour, etc.  
HAving upon the Revival of the mistaken Clamours against the East-India Commerce, digested my Thoughts upon the Matter into the following method, I have consented to make them Public, if perhaps they may be useful to Rectify the Misapprehensions of some People; and as the unbias'd search after Truth, will, I hope, excuse me to your Adversaries, so I persuade myself, the appearance of that Truth will Apologise for my Presumption in putting it under your Honour's Favour and Protection, which if it may obtain, as it will be a sufficient Guard to this Treatise, so it will be an Abundant Recompense to its Author,  
Who is your Honours, etc. most Humble Servant, J. C.   

THE GREAT Honour and Advantage OF THE East-India TRADE, etc.  
IT cannot but seem something strange that it should be thought necessary in this Age of ours, that pretends to see so much further than their Ancestors: for a Man to give himself any trouble to Oppose an Assertion, which in the mildest Construction, cannot pass for less than a Paradox. But since it has been long ago Remarked, That there is scarce an Opinion so unreasonable, but has been defended by some Philosopher or other; It may appear the less wonderful, that there are still People to be found, no Philosophers indeed, who engage themselves to maintain the most Palpable Contradiction, and such a Task in my Opinion, have they undertaken, who would persuade the World, that the East-India Trade is Prejudicial to the welfare of the Nation.  
A Trading Genius has always been found the most effectual Means to Enrich a People, preferable to all other ways, because wherever it is seen, it never fails to settle the most lasting Marks of its Advantages. This is so very obvious, and the Example of it so Notorious, that it would be a perfect superfluity to offer any thing for its Confirmation; The prodigious Rise of a People our near Neighbours by this, from a very small Beginning, is an undeniable Proof of its almost Miraculous Power; and here at Home likewise it cannot be denied, That our Commerce and our Riches have both increased together.  
This has been the great Engine that has wrought us into that Fund of Wealth, which served not only to Enrich us in Peace, but has enabled us to defend ourselves thus long, at so great Expense against the Invasion of a most Powerful Enemy, towards which Extraordinary Service, I think it need not be doubted, but the East-India Trade has contributed, in proportion, as much, if not more, than any other.  
The enlarging of our Commerce, and the improvement of Navigation, were the chief Reasons of its first Establishment by that Great and Wise Princess Queen Elizabeth, which it has apparently effected in both, by Employing and Encouraging the Building of some of the best Ships in the World, and by bringing such store of Useful and Necessary Commodities, as make us able to furnish those very Countries in Europe, from whence had they been left sole Masters of the Trade, we must have been contented to have received them, and should have received, 'em at second hand.  
Besides the Example of the Dutch, who are so sensible of the Benefit of this Merchandise, that I am persuaded they would not Exchange their Interest in it, for the best Jewel in the English Crown. Methinks the late extraordinary endeavours of our Scotch Friends, who are generally esteemed wise enough for themselves, to establish a Commerce thither, should make our Opposers of this Trade consider, whether it is a thing so damageable as they say it is. No Man Courts a Mischief, was the entertaining of this Trade to India, so pernicious as these mistaken People would persuade us; I dare Answer for them, they would be so far from striving for a share in it; that they would not give so much as Thanks for the whole.  
After all, it is very manifest, that not only the Dutch are, and the Scotch promise themselves to be great Gainers by this Traffic; but that we ourselves have likewise reaped considerable Profit from it to. The continuance of the Company; the Advance of their Actions to triple their first Value, not long before the breaking forth of the Troubles in India, together with the goodness of their Credit, apparent by their borrowing what Sum they pleased, at 4 per Cent, when the general and fixed Rate was six, were all indisputable Evidences at least of their thriving; and if the Qualities of the Goods they brought are duly considered, their usefulness, not only here at home, but also the great Advantage they bring us by a second Transportation: It must be concluded that the Nation was so far from losing, that they brought a mighty Improvement along with 'em.  
'Tis true indeed, if we were obliged to take the Report of this Affair from some People, one would imagine this Trade to be not only unprofitable, but ridiculous, and that we were as foolish and extravagant in our Traffic with these Indians, as those other are said to be with us, who give us Gold, etc. for Toys and Trifles: First, they take it for granted that we carry thither nothing but Mony. And what do we receive in return? Why, nothing but China Beads, China Pictures and Monkey-faced Babies, as one lately in Print sadly complains against them. These are the Rare Things, say they, that are so far fetched and bought so dear; And truly if this be the Case, I must confess it is more than time to look after it. But upon further Examination, I question not but it will appear to be quite otherwise.  
For the more effectually carrying on of the Trade to those Parts, it has been found absolutely necessary to Export thither, considerable Sums in Specie, beside quantities to a great value of our Native Product: But if the Account this Money turns to, be well reflected on, it will appear that we are no loser's by the Bargain. He that parts with his Money for a Commodity that will yield him six times as much as it cost him, never reckons himself any thing the Poorer, though at the present he doth lay out the Money: And this is the very Case of the East-India Traders, who though they do Export some Money, the Commodities they bring for it, effectually Answer six times the Value of the prime Cost, when they are brought hither.  
I am not unsensible how much more difficult it is than ordinary at present, to persuade People, that Money in Specie can be parted with out of the Kingdom, to any Advantage: Yet, that I may not seem to insinuate only, without affirming any thing Positive: I will venture to advance this Assertion, That Money expended in Foreign Trade, and especially in this Trade to India, does not diminish, but increase our Treasure.  
To make short work of this, I might allege the Examples of Venice, Florence, Genoa, Holland, etc. to confirm this Position, every one of which freely allow the Exportation of Money, and have by Experience found it exceeding Profitable to 'em; but lest none of these should be thought parellel to our Case, I shall further endeavour to evince it by Reason.  
And first, it must be acknowledged that there is no way for us to procure Treasure, but by Foreign Commerce, we having no Mines of Gold or Silver, to any purpose here in England: Now, as the Use and Want of our Commodities occasions the Vent of them in Foreign Countries, so from the want and use of theirs on our part, there ariseth a mutual Commerce between us; and if we export Goods to greater value upon our own Ships, than we receive from them, The Overplus at the End of the Account must be paid us in Mony.  
The Balance being thus on our side, with respect to the Exportation of our own Product and Manufacture, if by any means we can increase our Exportation, the Nation will thereby become proportionably the Richer: And here it will be necessary to distinguish between the Profit of the Merchant, and the Profit of the Kingdom; they very often falling under very different considerations; for Example, suppose 5000 l. sent upon an English Bottom to the East Countries to Buy Corn, which after some time is carried with much Difficulty and Charge to be sold again into Italy or elsewhere. Suppose then the Merchant is forced to sell this Corn for only so much above the prime Cost, as he has expended in Charges, it may be 2000 l. in this Case, though the Merchant has gained nothing, yet it is plain the Kingdom has increased 2000 l. by this Trading, from whence it follows, that the longer and more remote the Voyage is, the greater the Profit is to the Kingdom. For if 10000 l. is carried to India to buy Muslins, the Merchant, upon a Second Transportation, by Reason of the Great Charges he is at, etc. in so tedious a Voyage, must sell them again for 70000 pounds, to be but a moderate gainer. Though it is apparent again that the Kingdom has by this means sevenfold increased its Treasure.  
If it be Objected, That this will be Returned in Goods, and not in Money, as it was at first Issued out; I Answer, That this is impossible, because seeing the Balance was on our side, and the Exportation of our Manufactures exceeded our want and use of Foreign Goods before, it will follow necessarily, that upon the Increase of our Exportation which we have purchased elsewhere with our Money, The Balance will be so much the more to our Advantage, and, by consequence, at the end of the Reckoning, we must receive the Increase in Treasure.  
And this will serve likewise to Answer those who say, That the Dutch, the Genoese, etc. are obliged to Trade with Money, because they have few Manufactures of their own to Traffic with. For if the Trade of our Manufactures be gainful to us, and the Trade with Money be gainful to them, What should hinder us, that have Means and Opportunity, from joining them, and making our Profit of them both together?  
But it is Objected, That the Importation of East-India Goods, does not produce any of these Good Effects; But hinders the use of our own Manufactures, thereby depriving a great many People of their Living. In Answer to this, I shall consider, what are the Goods chiefly brought from India, of what use they are to us, and what Influence they have upon our home-made Commodities. As to the First, to avoid being tedious, I shall only name such as usually compose the greatest and most valuable part of their Cargoes, which are Calicoes, Muslins, Bengalls, Satins and Taffities. Pepper, Salt-petre, Raw-silk, besides China-ware and Diamonds. These are the chief Goods which are brought hither from India. Let us consider, in the next place, of what use they are to us; On which occasion I might enlarge upon the Honour it is to the Nation to extend its Commerce to such a Distant part of the World, etc. but I shall rather choose to insist upon the real Profit that is gained by them, which in this particular case is far greater to us, than the Natives from whence we have those Commodities; for, if they yield us, upon a Second Transportation, but four times the Price they cost in India, it is evident, we, i. e. the Nation, get three times as much as they can do who sell them. The Charges of Freight, Wages, Insurance, Custom, etc. being only between ourselves, without any lessening of the Treasure of the Nation. Thus by our Industry we enrich ourselves by the Manufactures of others, as much, nay more proportionably than by our own. Besides the Additional Advantage that we have by the Exportation of Considerable Quantities of our own Product, such as clothe, Tin, Led, etc. which are carried thither, towards the Purchase of those Beneficial Commodities; Beneficial indeed, if we consider further that they are in a manner as good as so much Money in the Stock of the Kingdom, by their aptness for the Support, Enlarging, and Furnishing the best of our other Trades to Holland, the East Countries, Turkey, Italy, etc. thereby, as I said before, increasing our Exportation, and, by consequence, the Honour, Wealth and Strength of the Kingdom.  
The very great Damage we sustained by the Loss of the Ann, the Seymour, and the other East-India Ships, is an undeniable Instance of the Consequence of that Trade, and the Mischief of its Interruption: for had those Ships come safe, we should have had Goods enough to have Paid the Army beyond Sea, without sending a Farthing-worth of Silver out of the Kingdom; and to have sold for above three times as much Money as was at first sent out to Buy them.  
As to the Objection, That the Importation of Made Goods, such as bengals, Taffities, etc. hinder the use and vent of our Manufactures, and thereby puts a great many out of their way of getting a Living; Let it be Supposed, but not Granted, that some People are put by their usual course of gaining a Livelihood by this: yet, if there are a great number of others employed by the same means, This cannot be a reasonable Objection against it. At this rate the Brewers may be opposed to the Vintners; the Weavers of Worsted against the Silk Weavers; Norwich, etc. against Spittlefields: each of which would undoubtedly employ many more hands, should the other Quit their present Business, and take to something else.  
But indeed the Indian-made Goods have not that troublesome effects, but on the Contrary, another very convenient and profitable one, which is, that they hinder the Importation and Consumption of Abundance of such Foreign Goods as we should else have bought, and were wont to buy at much greater Prices. Muslins are bought for ¼ of the Price of either Chambricks, Lawns, or Hollands. Callicoe's a great deal cheaper than Scotch-cloaths, or other Linens; Indian-Sattins and Damasks, than French, or Halien; and the Taffities have so great an Advantage of Florence Sarsnets and French Avignions', that they have caused a general disuse of them throughout the Kingdom.  
The India Goods are so different in their qualities from the Product of our Country, and the main of our Manufacture, that it is absolutely impossible they should ever do them any Injury, woollen clothes, Led, Tin, Iron, Corn, Leather, the Fishery, etc. will always be as useful, and as vendible in Foreign Countries, as if we had never so much as heard of the East India's.  
But the Made Goods do, it seems, particularly injure the Broad Silk-Weavers, and put them beside the way of living they were brought up in.  
Now, besides what has been said already to this, that supposing this were true, yet that it could not be esteemed a Public Damage, because if it does take from one part of the People, it makes sufficient Recompense, by the Employment it gives to another, much more to the Benefit of the Nation in General: And it may be remembered likewise, that when this was urged by the Workers in Worsted, with far greater Reason, a few years ago, as an Argument against them, they could, by no means, allow it to be a good one.  
Besides this, I say, there is to be added, That this Objection is not true in Fact, as even Experience has testified. For, would the Prejudice these Men have against the East-India Trade suffer them to speak Truth, they would be obliged to acknowledge, that the late Scarcity, and Dearness of Indian Goods, has been so far from bringing them any Advantage, that on the contrary, their Business and Work was never in so low a Condition, as since there has been almost none at all.  
For a Plentiful Importation of these Made Goods is generally one means to cause a Considerable Diminution in the Price of Raw Silk to the Weaver, which presently sets him at Work upon several sorts of Silks, so extremely Different from the Indian, as gives him a sufficient share in the Common Trade. Whereas the Excessive Dearness of Silk discourageth him, and puts the Buyers upon seeking for something else, that may supply their use cheaper.  
It must be confessed, that these People at present lie under extraordinary hardship, and it were to be wished, that some Proper Method could be found to Relieve them. But why must this be attributed to the East India Goods all of a sudden? Since we all know, that in the Time of their greatest Plenty, as I said but just now, they were much better employed; than since their greatest Scarcity. That Consideration alone may go a great way to convince both them and us, That the Decrease of their Trade is owing to some other Causes, if not included in the General Decay of the Inland Trade; the Natural and Inevitable Consequence of the Interruption of the Foreign; and that like all other Restless People, who done't know where to fix the Reason of their Misery, they have blindly stumbled upon this, the next in their way, to discharge their uneasiness upon.  
So that upon the Whole it cannot reasonably be thought, that their Mistaken Prejudices can make any ill Impression upon this part of the Nations Trade: A Trade, to sum up all, that is accompanied in every Respect, with so many, and so great Advantages; A Trade, which is such an Addition to our Honour, such an Improvement to our Navigation and Shipping, such an Enlargement to our Exportation, and such a Bar to the Consumption of other so much dearer Foreign Commodities.  
In Fine; so every way Fitted to the General Interest and Profit of the NATION, That I am persuaded, that were it Encouraged, as it might be, it would Equal, if not Excel, any other Foreign Commerce that is used by this KINGDOM.  
FINIS.