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[Page 16]
our Customs house banks give a Flattering account of our Exports & imports & no Doubt a True one, but the State of Exchange is the only Such criterion by which we Can judge of the amount of the Payments & Receipts of our merchants, The immence Sums we pay to Foreigners for Freight & the Bribes we are Compelld to advance to the Corps of Douaniers that Line the Coast of Germany the Continent, all of which must be Paid in hard Cash, do not nev appear in any account whatever. These are the Principal Causes of the vast Obstacle which the difference of Exchange presents to our Trade, & it is the Exchange that has Robd [Robbed] us of our Gold which nothing but a Favorable alteration in Excahnge Can bring back to us, For tho Gold may become cheaper on the Continent by accumulation, that Circumstance, if it does happen will tend only to increase the dificulty of Remittance & put at all to the Return of Gold.
in the meantime we may now argue from Experience, that no Serious inconvenience has arisen in