IT is observable, That Inquisitive and Disinterested Vide Sir Ios. Child's New Discourse on Trade; in the Preface, and also in Pag. 105. of the 2d. Edit. Printed 1694. As also a Discourse of Trade, Coyn and Paper Cre­dit. pag. 90. Printed 1697. supposed to be wrote by Mr. Polixfen; and the Discourse of the Publick Revenues and Trade of England, by the Author of the Essay of Ways, and Means. Part the 2d pag. 82. Printed 1698. Persons, who have lately Publickly treated of Trade; have look'd upon the Trade of Russia as almost wholly lost to this Nation, either by ill Management or Negligence.

Since therefore, the Observations of these Authors are also confirmed by our own Expe­rience: It may be high time to find out some proper Methods to recover that Trade.

It is an undoubted Truth, That Arts, Manufactures and Foreign Trades, make the greatest Improvement, where there are the greatest numbers of Hands and Stocks to carry them on, and where there are no Clogs or Barrs to Industry: Of this Holland is a sufficient instance; for tho' the English were the first Dis­coverers of the Russia Trade, and had a Charter to incorporate them, and that confirm'd by an Act of Parliament, yet the Dutch without the advantage of any Company at all, but with a full liberty to every one to Trade to Rus­sia have (with their numbers of Hands and largeness of Stock) drove the Eng­lish almost quite out of that Trade: They have encreased their Trade to Forty five and Fifty Ships, sent thither yearly; and we with our great Fines and Im­positions have dwindled our Trade thither to Four or Five Ships yearly. They have for many Years (and do yet) engross all the most considerable Com­modities of Russia, as Masts, Pitch, Tarr, Pottashes, Deals and Firr Timber, and we (with our few Traders) drive no Trade at all in Masts, Pitch, and Tarr &c. Nay, are often forced to buy our Pottashes at second hand from the Dutch. Surely, this consideration alone is of weight to make the entrance [Page 2] into that Company as wide and easie as possible, that so by the encrease of Hands and Stock in that Trade, we may retrieve what we have lost for want of them, and what the Dutch by those very means only have gained from us.

If the Russia Company are at any Charge to support their Corporation, other Traders that come in, will help to bear it, and ease them: For sup­pose this Company do (one Year with another) expend 300 l. and trade for 20,000 l. Yearly, then the charge upōn the Trade would be 1½ per Cent? But if they admit others for a small Fine, the Trade will probably encrease to 200,000 l. (for the Tobacco Trade alone may be 150,000 l. of it) and then instead of paying 30 s. Impositions on every 100 l. according to the above supposition; they will not need to pay above 3 s. for 100 l. and this they must own will be a great ease to them: But the true reason why they so strenuously oppose the admission of others on easie terms, is this, That (as they are) they have but very few Traders, and those do so well understand one another, that they can manage that Trade, to as much advantage to them­selves as they please, without regard to the Publick good, but when others may Trade thither also, they cannot combine together, and tho' their Profits will be less, yet the Kingdoms will be greater by the encrease of our Ex­portations; this is the only true Reason that makes them strive so hard for great Fines for Admissions, knowing that as that hath been, so it will always be an effectual means to keep Men out of their Company, few being willing to give a great Sum for liberty to drive a Trade they have not been acquainted with; and the Company have taken care to keep all Men but themselves as ignorant of the Russia Trade as possibly they could.

It cannot well be imagined, that the whole necessary charge of the Com­pany can be above 300 l. a Year, for they seldom are at any expence a­broad, and here at home their charge is chiefly in Salaries to one another, and good Dinners; which charge they have raised yearly by Impositions on Goods Imported from Narve, which are mostly brought home by Eastland Merchants, and others not free of the Russian Company.

A Liberty to Import Tobacco into Russia, hath been long wish'd for by all Men that understood and desired the wellfare of England, as knowing it would be better to us than Mines of Silver, by encreasing our Shipping and Seamen, and turning the Ballance of all Our Northern Trades in Our fa­vour; that whereas we have hitherto been forced to send great Sums in Specie to pay for the Product of those Countries, over and above all our Exports: This would in a little time turn the Scales, and we should rather have Species from them, then send any thither.

This so long wish'd for Liberty is now obtained at the expence of a great Sum by private Men, who are Strangers to the Trade of Russia, and have bought up several Parcels of Tobacco fit (as they are informed) for that Countrey, and they are ready to Export it thither, in case they may have Liberty to do it, and to run the hazard, whether they shall gain or lose by it; but they hope it will not be thought reasonable they should pay any great Fine, for their Admission into the Company, to drive a Trade of such great and certain Profit to the Kingdom, [Page 3] and so doubtful and hazardous to themselves. For since they entred into the Contract with the Czar, for the Importing so great a quantity of Tobacco Year­ly into his Dominions, they have been mightily discouraged by the Russia Mer­chants, who alledge the Contractors have engaged in such an affair, as will de­stroy the greatest part of the Sum their Subscriptions amount to; and that if the Russia Company were concerned in it, they would chuse to lose One half, nay, Nine tenths of what they had Subscribed, rather than stand to the bargain. Such Discourses, with the other difficulties in the passing of the BILL, hath so discouraged the Subscriptions, that ever since those difficulties were made, there hath not been One penny Subscribed, tho the Roll hath lain open all the while, and there is not Subscribed one half so much, as may be employed in the Tobacco Trade. These are great discouragements from People who pretend to know so well the State and Nature of the Trade and People of Russia.

It seems strange therefore, That the Russia Merchants should in their Propo­sals demand a Fine of 500 l. and besides that, a certain Imposition of One per Cent. upon a Trade, that they are sure will be destructive to the Undertakers, tho they do acknowledge it will be very advantageous to the Nation.

These Undertakers are willing upon their Admission into the Freedom of the Company, to bear their share of the Charge of the Company, by paying Propor­tionable Impositions to what other Traders pay; but to pay more, they think ve­ry hard for the Reasons mentioned above.

How small soever the said Imposition of One per Cent. upon the Importation of Returns for Tobacco may seem, it will amount in Seven Years (the Term of the Patent) to above 10000 l. by a modest Computation; which Sum, as there will be no occasion for it to defray the necessary Charge of the Company; so it will discourage the Undertakers from proceeding on the Contract, while they see so little probability of advantage by it. Now to what end are the Russia Merchants so earnest for great Fines and Impositions, since they do not Trade in a Joynt-Stock, nor have Power to divide those Fines and Impositions among themseves? Certainly what they receive more than they spend, doth and must lie as a dead Stock by them, so that (as is observed before) their main Design by it, is to clog other Traders, and to keep Men out of their Company: For cer­tainly the greater Trade is driven, the less need their Impositions be.

Besides, as to their Act of Parliament, tho none of the King's Subjects can Trade to the Dominions of the Emperour of Russia without their Licence; yet is there not the least word therein-mentioned that gives them any Power to take Money, for such Licences.

This Nation hath by this Grant from the Czar an opportunity to encrease its Stock 150,000 l. a Year (besides Employing some Thousands of the Poor in Ma­nufacturing the Tobacco) and the World may think it strange if we hesitate or make difficulties about the embraceing and improving so advantageous an offer. And if we cannot make use of the Grant, we must part with it to those that will pay us for it: And the Nation may hereafter have time to repent the loss of so great a Jewel, which no Art nor Expence may be ever able to recover.

[Page 4]There is another National Advantage, That a great Trade to Russia would give us, and what the Dutch find by it, Viz. That all Naval Stores and other Commodities Imported from Russia, would be brought home in our own Shipping (the Russes having none) whereas all those Naval Stores from Sweden and Den­mark and the Ports of the Baltick, are Imported chiefly in Shipping of those Countreys, which is a double Charge and loss to this Nation; besides the Dutch, by having an opportunity of being supplied with Masts, Deals, Hemp, Pitch and Tarr from Russia, need not depend on Sweden and Denmark for them, and by that means can better keep those Two Princes in awe, with respect to Commerce, which we cannot do, having at this time our sole dependance on those Two King­doms for all our Naval Stores.

To conclude, The Contractors for Importing Tobacco into Russia, are so far from engrossing to themselves any Profit, that may be thought will arise from that Grant, that they do yet keep open their Subscriptions for every one that hath a mind to be concerned with them therein, and they are willing rather wholly to lose that advantage they propose to themselves by the Contract, than that the Nation should be totally depriv'd of the Tobacco Trade. And therefore, in case they cannot be admitted into the entire Freedom of the Russia Company, to drive that Trade on equal Terms, with all other Members of the same, they are ready and do offer to part with it to the Russia Company, upon the repay­ment of the Money they have paid and expended about it.

And surely the Russia Merchants will not be (like the Dog in the Manger) nei­ther carrying out Tobacco themselves, nor suffering others to do it, who would; since the doing of it will bring so many advantages to the Nation, which its humbly hoped, will be always preferred before the private Interest of Ten or Twelve Persons.