THE NEW ATTACK ON THE EAST INDIAN TRADE 465
weavers at home, but the Norwich clothiers also. Tt was A.D. 1689
argued that the employment of 250,000 manufacturers would ire.
be injuriously affected by allowing this trade to continue, and woolten
that this must react on the price of wool and the prosperity ““®
of the landed interest? The case of the Company was
powerfully stated by Davenant; he showed that “the Im-
portation of East India and Persia Wrought Silks, Stain’d
Callicoes, etc., though it may somewhat interfere with the
Manufactures of Norwich, Bristol and other particular
Places; yet, that such Importation adds to the Kingdoms
main Stock and Wealth, and is not prejudicial to the
General Woollen Manufacture of England®” But he did
not succeed in convincing the general public that the trade
was not hurtful to the employment of our own people. The
reply was put thus: “Suppose a merchant send £10,000 to
India and bring over for it as much wrought Silks and
painted Calicoes as yield him here £70,000, if they be all and sitk.
worn here in the room of our own Silk and Woollen manu-
factures, the Nation loses and is the poorer £10,000, notwith-
standing the Merchant has made a very profitable Adventure,
and so proportionably the more and oftner he sends, the faster
he grows rich, and the more the Nation is impoverished.”
The attempt to discuss the question, without reference to the
export of Indian silks to other countries in Europe, was unfair
to the Company; but the arguments are of interest as they
proved convincing, and the objectors were successful in
carrying their point, for they obtained an Act of Parliament
in 1700 to restrict the trade, so far as the home market was
concerned®. It was alleged. after a brief experience. that the
1 The Great Necessity and Advantage of Preserving our own Manufacturies.
by N. C., a weaver of London [Brit. Mus. 1029. ¢. 21 (7), (1697), pp. 7, 13].
2? Reasons Humbly Offered for the Passing a Bill for the Hindertng of the
Home Consumption of East India Silks, by T. S., a weaver of London (1697), p. 8
(Brit. Mus. 1029. c. 21 (8)].
8 An Essay on the East India Trade (1696), p. 33.
+ N. C., Great Necessity and Advantage of Preserving our own Manufacturies, 6.
$11 W. IIL. ec. 10, dn Act for the more effectuall imploying the Poor by
incourageing the Manufactures of this Kingdom: * Whereas it is most evident
That the Continuauce of the Trade to the East Indies in the same Manner and
Proportions as it hath been for Two Yeares last past, must inevitably be to the
great Detriment of this Kingdom by exhausting the Treasure thereof and melting
downe the Coine, and takeing away the Labour of the People whereby very many
