50G THE NATURE AND CAUSES OF

directly or indirectly, whether they shall be imported intoGreat Britain in pipes or hogsheads, or other casks, than whatshall be demanded for the like quantity or measure of French wine, deducting or abating a third part of the custom or duty.But if at any time this deduction or abatement of customs,which is to be made as aforesaid, shall in any manner be at-tempted and prejudiced, it shall be just and lawful for his sa-cred royal majesty of Portugal , again to prohibit the woollencloths, and the rest of the British woollen manufactures.

ART. in.

The most excellent lords the plenipotentiaries promise andtake upon themselves, that their above-named masters shallratify this treaty; and within the space of two months theratifications shall be exchanged.

By this treaty the crown of Portugal becomes bound to ad-mit the English woollens upon the same footing as before theprohibition; that is, not to raise the duties which had been paidbefore that time. But it does not become bound to admitthem upon any better terms than those of any other nation,of France or Holland , for example. The crown of GreatBritain, on the contrary, because bound to admit the winesof Portugal upon paying only two-thirds of the duty, whichis paid for those of France , the wines most likely to come in-to competition with them. So far this treaty, therefore, isevidently advantageous to Portugal , and disadvantageous toGreat Britain.

It has been celebrated, however, as a masterpiece of thecommercial policy of England. Portugal receives annuallyfrom the Brazils a greater quantity of gold than can be em-ployed in its domestic commerce, whether in the shape ofcoin or of plate. The surplus is too valuable to be allowedto lie idle and locked up in coffers, and as it can find no ad-vantageous market at home, it must, notwithstanding any pro-hibition, be sent abroad, and exchanged for something forwhich there is a more advantageous market at home. A largeshare of it comes annually to England, in return either forEnglish goods, or for those of other European nations that re-ceive their returns through England. Mr. Barretti was in-formed that the weekly packet boat from Lisbon brings, oneweek with another, more than fifty thousand pounds in gold toEngland. The sum had probably been exaggerated. It would