THE WEALTH OF NATIONS.

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established in the twelfth of Charles II . The method of as-certaining, by a book of rates, the value of goods subject tothis duty, is said to be older than the time of James I . Thenew subsidy imposed by the ninth and tenth of William III. ,was an additional five per cent, upon the greater part ofgoods. The one-third and the two-third subsidy made upbetween them another five per cent, of which they were pro-portionable parts. The subsidy of 1747 made a fourth fivepercent, upon the greater part of goods ; and that of 1759,a fifth upon some particular sorts of goods. Besides thosefive subsidies, a great variety of other duties have occasion-ally been imposed upon particular sorts of goods, in ordersometimes to relieve the exigencies of the state, and some-times to regulate the trade of the country, according to theprinciples of the mercantile system.

That system has come gradually more and move intofashion. The old subsidy was imposed indifferently uponexportation as well as importation. The four subsequentsubsidies, as well as the other duties which have since beenoccasionally imposed upon particular sorts of goods, have,with a lew exceptions, been laid altogether upon importation.The greater part of the ancient duties which had been im-posed upon the exportation of the goods of home produceand manufacture, have either been lightened or taken awayaltogether. In most cases they have been taken away.Bounties have even been given upon the exportation of someof them. Drawbacks too, sometimes of the whole, and, inmost cases, ot a part ol the duties which are paid upon theportation of foreign goods, have been granted upon then-exportation. Only half the duties imposed by the old sub-sidy upon importation, are drawn back upon exportation:but the whole of those imposed by the latter subsidiesand other imposts are, upon the greater part of the goods,drawn back in the same manner. This growing favourof exportation, and discouragement of importation, havesuffered only a few exceptions, which chieily concern thematerials of some manufactures. These, our merchants andmanulacturers are willing should como as cheap as possibleto themselves, and as dear as possible to their rivals and com-petitors in other countries. Foreign materials arq, upon thisaccount, sometimes allowed to be imported duty free; $pa-»ish wool, for example, flax and raw linen yarn. Thu expor-tation of the materials of home produce, and of those which