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. [Footnote: 15]
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. L483,265 To Africa. .................................. 86,665 -------- L569,930
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 ...... L4,791,734 To Africa. ................................ 866,398 To which, if you add the export trade from Scotland, which had in 1704 no existence .. 364,000 ---------- L6,022,132
From five hundred and odd thousand, it has grown to six millions. It has increased no less than twelve-fold. This is the state of the Colony trade as compared with itself at these two periods within this century;—and this is matter for meditation. But this is not all. Examine my second account. See how the export trade to the Colonies alone in 1772 stood in the other point of view; that is, as compared to the whole trade of England in 1704:—
The whole export trade of England, including that to the Colonies, in 1704. ................ L6,509,000 Export to the Colonies alone, in 1772 ......... 6,024,000 ---------- Difference, L485,000
The trade with America alone is now within less than L500,000 of being equal to what this great commercial nation, England, carried on at the beginning of this century with the whole world! If I had taken the largest year of those on your table, it would rather have exceeded. But, it will be said, is not this American trade an unnatural protuberance, that has drawn the juices from the rest of the body? The reverse. It is the very food that has nourished every other part into its present magnitude. Our general trade has been greatly augmented, and augmented more or less in almost every part to which it ever extended; but with this material difference, that of the six millions which in the beginning of the century constituted the whole mass of our export commerce, the Colony trade was but one-twelfth part, it is now (as a part of sixteen millions) considerably more than a third of the whole. This is the relative proportion of the importance of the Colonies at these two periods, and all reasoning concerning our mode of treating them must have this proportion as its basis, or it is a reasoning weak, rotten, and sophistical.