'Considerations upon Trade' Isaac Newton c. 409 words The Newton Project Oxford 2017 Newton Project, University of Oxford

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 1701, c. 409 words.

A sequence of at best loosely-connected paragraphs. English money flows to France and India where goods are cheaper and wages lower. Bullion can only be obtained through the Spanish and Portuguese, who control the West Indies. Coinage statistics since the reign of Charles I. Suggests restrictions on the trade with France in wool and silk.

 MINT 19/2/604, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/2/604 1701 England English Holograph MintEconomic Theory and Legislation Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young Catalogue exported to teiHeader by Michael Hawkins Transcribed by Will Scott
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Considerations upon Trade

The french are poor & work cheaper then the English & therefore will not buy much of yethe English manufactures where they can have a good of their own. But the English will bybuy much of the French manufactures because of their cheapness & must pay the ballance of trade in money. The case is much the same as that of orour trade wthwith India whose manufactures by reason of their cheapness carry away our silver & hinder the consumption of orour own manufactures.

We can have no bullion but from the West Indies belonging to Spain & Portugal. The question is whether we shall trade with those nations immediately for bullion, or by the mediation of France.

In the reign of K.King Cha I, while England furnished the Spaniards in their warrs in Flanders the coinage was very great amounting to about 8 millions In the twelve years between the death of K.King Cha: I & the return of K.King Cha: II the cross & Harp money amounted not to more then 6800,000li wchwhich is less then 70,000li prper anannum at a medium. Soon after it encreased till in yethe last 10 years of K.King Cha: II & KKing Ia: II it amounted to above 500,000li prper anannum. Then by yethe French war it fell to 200,000li per anannum in gold at a medium. In yethe four years between yethe first & second French wars it amounted to 450,000li per anannum at a medium. In the first seix years of yethe 2d French war by the want of yethe Spanish trade it fell to about 24,000li prper anannum, & afterwards by the Portugal & Iamaica trade increased so as at prresent to be aboveut 2300,000 prper anannum, & therefore is as good as ever, & by the addition of the Spanish trade will be better then ever if the French trade do not abate it.

The French manufactures of Linnen & Silk have formerly amounted to above 800,000li prper anannum, their wines & Brandies to above 200,000li their other commodities to above 100,000li. Where shall we have manufactures & other commodities to ballance this trade, over & above what will be necessary to carry on orour trade wthwith Portugal Spain & the West Indies for Bullion.

What need is there of a trade between England & France for manufactures of Silk & woollen. Abate this trade & the rest will not must hurt us.