. . .The export trade to the colonies consists of three great branches: the African, which, terminating almost wholly in the colonies, must be put to the account of their commerce; the West Indian; and the North American. All these are so interwoven, that the attempt to separate them would tear to pieces the contexture of the whole, and, if not entirely destroy, would very much depreciate, the value of all the parts. I therefore consider these three denominations to be, what in effect they are, one trade.

The trade to the colonies, taken on the export side, at the beginning of this century, that is, in the year 1704, stood thus:—

Exports to North America and the West Indies£ 483,265 To Africa86,665 £ 569,930

In the year 1772, which I take as a middle year between the highest and lowest of those lately laid on your table, the account was as follows:—

To North America and the West Indies£ 4,791,734 To Afr. . . Read More