children of the republic; are fond of serving their mother and hold themselves sufficiently recompensed by the privilege of serving her. The public revenue greatly exceeds the expence of government they carefully lock up the surplus for purchasing land when a proper opportunity offers; which is a shining proof of their disinterestedness as well as of their wisdom. By that politic measure, much more than by war, the canton of Berne, from a very slender origin, is now far superior to any of the other cantons in extent of territory. But in what other part of the globe are there to be found ministers of state, moderate and disinterested like the citizens of Berne! In the hands of a British ministry, the greatest treasure would vanish in the twinkling of an eye; and do more mischief, by augmenting money in circulation above what is salutary, than formerly did good by confining it within moderate bounds. But against such a measure there lies an objection still more weighty than its being an ineffectual remedy in the hands of an ambitious prince, it would prove dangerous to liberty.

If the foregoing measures be not relished, I can discover no other means for preserving our station in foreign markets, but a bounty on exportation. The sum would be great: but the preserving our industry and manufactures, and the preventing an influx of foreign manufactures, cannot be purchased too dear. At the same time, a bounty on exportation

[B. F. tation would not be an unsupportabe load: on the contrary, superfluity of wealth, procured by a balance constantly favourable, would make the load abundantly easy. A proper bounty would balance the growing price of labour and materials at home, and keep open the foreign market. By neglecting that salutary measure, the Dutch have lost all their manufactures; a neglect that has greatly benefited both England and France. The Dutch indeed act prudently in withholding that benefit as much as possible from their powerful neighbours to prevent purchasing from them, they consume the manufactures of India.

The manufactures of Spain, once extensive, have been extirpated by their gold and silver mines. Authors ascribe to the same cause the decline of their agriculture; but erroneously on the contrary, superfluity of gold and silver is favourable to agriculture, by raising the price of its productions. It raises also, it is true, the price of labour; but that additional expence is far from balancing the profit made by high prices of whatever the ground produces. Too much wealth indeed is apt to make the tenant press into a higher rank: but that is easily prevented by a proper heightening of the rent, so as always to confine the tenant within his own sphere.

As gold and silver are essential to commerce, foreign and domestic, several commercial nations have endeavoured most absurdly to bar the expor

tation by penal laws; forgetting that gold and silver will never be exported while the balance of trade is on their side, and that they must necessarily be exported when the balance is against them. Neither do they consider, that if a people continue industrious, they cannot be long afflicted with an unfavourable balance; for the value of money, rising in proportion to its scarcity, will lower the price of their manufactures, and promote exportation the balance will turn in their favour; and money will flow in, till by plenty its value be reduced to a par with that of neighbouring nations.

It

It is an important question, Whether a bank, upon the whole, be friendly to commerce. is undoubtedly a spur to industry, like a new influx of money; but then, like such influx, it raises the price of labour and of manufactures. Weighing these two facts in a just balance, the result seems to be, that in a country where money is scarce, a bank properly constituted is a great blessing, as it in effect increases the quantity of money, and promotes industry and manufactures; but that in a country which possesses money sufficient for extensive commerce, the only bank that will not injure foreign commerce, is what is erected for supplying the merchant with ready money by discounting bills. At the same time, much caution and circumspection is necessary with respect to banks of both kinds. A bank erected for discounting bills, ought to be confined to bills really grant

ed

ed in the course of commerce; rejecting fictitious bills drawn merely for procuring a loan of money. And with respect to a bank purposely erected for lending money there is great danger of extending credit too far; not only with respect to the bank itself, but with respect to the nation in general, by raising the price of labour and of manufactures, which is the never failing result of too great plenty of money, whether coin or paper.

He

The different effects of plenty and scarcity of money, have not escaped that penetrating genius, the Sovereign of Prussia. Money is not plentiful in his dominions as to make it necessary to withdraw a quantity by heaping up treasure. indeed always retains in his treasury six or seven millions Sterling for answering unforeseen demands: but being sensible that the withdrawing from circulation any larger sum would be prejudicial to commerce, every farthing saved from the necessary expence of government, is laid out upon buildings. upon operas, upon any thing rather than cramp circulation. In that kingdom, a bank established for lending money would promote industry and manufactures.

SKETCH

SKETCH IV.

ORIGIN AND PROGRESS OF ARTS.

SECTION I

Useful Arts.

OME useful arts must be nearly coëval with

SOM

the human race; for food, clothing, and habitation, even in their original simplicity, require some art. Many other arts are of such antiquity as to place the inventors beyond the reach of tradition. Several have gradually crept into existence, without an inventor. The busy mind, however, accustomed to a beginning in things, cannot rest till it find or imagine a beginning to every art. Bacchus is said to have invented wine; and Staphylus the mixing water with wine. The bow and arrow are ascribed by tradition to Scythos, son of Jupiter, though a weapon all the world over. Spinning is so useful, that it must be honoured with some illustrious inventor: it was ascribed by the Egyptians to their goddess Isis; by the Greeks to

Minerva ;