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An inquiry into the nature and causes of the wealth of nations / by Adam Smith
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THE NATURE ANP CAUSES OE

company of merchants trading to Africa , yet in the year fohlowing (by the Gth of George III. c. 44.), not only Senegal and its dependencies, but the whole coast from the port ofSallee, in south Barbary, to Cape Rouge, was exempted fromthe jurisdiction of that company, was vested in the crown,and the trade to it declared free to all his majesty’s subjects.The company had been suspected of restraining the trade,and of establishing some sort of improper monopoly, it isnot, however, very easy to conceive how, under the regula-tions of the 23d George 11. they could do so. In the printeddebates of the House of Commons , not always the most au-thentic records of truth, I observe, however, that they havebeen accused of this. The members of the committee ofnine being all merchants, and the governors and factors intheir different forts and settlements being all dependent uponthem, it is not unlikely that the latter might have given pe-culiar attention to the consignments and commissions of theformer, which would establish a real monopoly.

For the second of these purposes, the maintenance of theforts and garrisons, an annual sum has been allotted to themby parliament, generally about 13,000/. For the proper ap-plication of this sum, the committee is obliged to accountannually to the Cursitor Baron of Exchequer; which accountis afterward to be laid before parliament. But parliament,which gives so little attention to the application of millions,is not likely to give much to that of 13,000/. a year; and theCursitor Baron of Exchequer, from his profession and edu-cation, is not likely to be profoundly skilled in the properexpense of forts and garrisons. The captains of his majesty’snavy, indeed, or any other commissioned officers appointedby the Board of Admiralty, may inquire into the condition ofthe forts and garrisons, and report their observations to thatboard. But that board seems to have no direct jurisdictionover the committee, nor any authority to correct those whoseconduct it may thus inquire into; and the captains of hismajesty’s navy, besides, are not supposed to be always deeplylearned in the science of fortification. Removal from anoffice, which can be enjoyed only ior the term of three years,and of which the lawful emoluments, even during that term,are so very small, seems to be the utmost punishment to whichany committee-man is liable, for any fault, except direct mal-versation, or embezzlement, either of the public money, or ofthat of the company; and the fear of that punishment can