"really to the government fifty or sixty pounds sterling for every tun "of wine he imports. Where is the merchant that would venture to do "so in Turkey? b

The Americans have been led by the dictates of good sense to adopt a system of finance correspondent with the sentiments of this intelligent civilian and philosopher. By far the greatest part of the revenue is raised by duties on the export and import of merchandise. The sums total of their expenditure in 1794 were as follow:

According to the account given by Mr. Coxe, assistant-secretary to the States, their revenues in 1791 were estimated at 3,329,750 dollars, and in 1792 at 3,700,000; and they had always exceeded the estimates. -The same writer says that in the two ensuing years the revenues were advanced in proportion to the advance made by them in agriculture and commerce, and that the surplus revenue of 1793 amounted to 2,300,000 dollars.

According to him, "about eleven millions sterling would purchase or discharge all the debts of the United States, which they owe to indi"viduals or to bodies politic other than themselves."-A part of the above surplus was applied to the reduction of this debt and the payment of interest on the remainder, and part to the providing for the public defence and protection."

COMMERCE.

The following statement of goods exported between october 1 1792, and october 1 1793, shews the extent of the American foreign trade, and also the relative amount of its exports to different countries.

SUMMARY

• Winterbotham. 1. 239. 251.

a Tench Coxe's View. 496. Winterbotham. 1. 253.

b Esprit de Loix. liv. 13. ch. 14.

The following statement of the value of goods, wares, and merchandise, exported from the United States, enables us to judge of the relative amount of the trade of each state.

EXPORTS BETWEEN OCTOBER 1 1792, AND SEPTEMBER 30 1793.

We shall be assisted in making our estimate by the following statement of duties on imports between october 1 1790, and september 30 1791.

The following statement of the tonnage of vessels which have paid duty in the ports of the United States between october 1 1791, and september 30 1792, enables us to judge of the extent of their trade, and also of the relative amount of their trade to different countries.

Winterbotham. 6. 274.

то

The following statement of the number of skins and furs exposed to sale at the New York coffee-house, in London, in the year 1794, is deserving our notice, as it shews the vast extent of the trade and will enable us to judge of the profit which America derives from it.

There are several other articles of export of great importance, some of which are capable of being enlarged. One of these is iron; which is found in considerable quantities in several of the states.-Another is, tar

pitch,

pitch, and turpentine.-Another is sugar procured from the juice of the maple tree. —Another is timber of various kinds.-Another is pot and pearl ashes; of which the province of Massachusets alone has exported to the amount of 200,000 dollars in one year.

Fisheries are another very considerable source of profit to the States; it is, moreover, one for which their situation is particularly well adapted, which might be greatly extended, and might be made instrumental to the promoting other means of wealth.

AGRICULTURE.

Important as the foregoing objects are to the American states, agriculture 'is still more so. On this it principally depends not only for subsistence, but for the employment of its inhabitants, and for its most valuable articles of export. "Calculations carefully made," says the last cited writer, "do not raise the proportion of property, or the number of men "employed in manufactures, fisheries, navigation and trade, to one-eighth "of the property and people occupied by agriculture, even in the com"mercial state of New England."-The disproportion is much greater, he says, taking the union at large. "We shall be better enabled to judge of this by attending to the following articles.

Beside the grain consumed by their own inhabitants, &c. the States exported, in the year ending in september 1792, 3,145,255 bushels of different kinds of grain.

1,469,723 barrels of flour, meal, &c.

116,803 barrels of beef, pork, &c.

112,428 hogsheads of tabacco.

52,382 hogsheads of flax seed.

44,752 horses and horned cattle.

In the southern states rice is a very considerable product, and is superior to that of Italy or the Levant in quality.-Indigo and cotton are likewise very considerable products in the same states, and are likely to be extended.'

f See Hist. of American States. 1790. 8 Coxe. 79. 86. 90.91

BANK.

Idem. 7.

i Idem. 86. 434.