THE TREATY WITH FRANCE.

By the treaty of peace the French king obliged himself to abandon the pretender, and acknowledge the queen’s title and the protestant succession; to raze the fortifications of Dunkirk within a limited time, on condition of receiving an equivalent; to cede Newfoundland, Hudson’s Bay, and St. Christopher’s to England; but the French were left in possession of Cape Breton, and at liberty to dry their fish in Newfoundland. By the treaty of commerce a free trade was established, according to the tariff of the year one thousand six hundred and sixty-four, except in some commodities that were subjected to new regulations in the year sixteen hundred and ninety-nine. It was agreed that no other duties should be imposed on the productions of France imported into England than those that were laid on the same commodities from other countries; and that commissaries should meet at London to adjust all matters relating to commerce; as for the tariff with Spain, it was not yet finished. It was stipulated, that the emperor should possess the kingdom of Naples, the duchy of Milan, and the Spanish Netherlands; that the duke of Savoy should enjoy Sicily, with the title of king; that the same title, with the island of Sardinia, should be allotted to the elector of Bavaria, as an indemnification for his losses; that the states-general should restore Lisle and its dependencies; that Namur, Charleroy, Luxembourg, Ypres, and Newport, should be added to the other places they already possessed in Flanders; and that the king of Prussia should have Upper Gueldre, in lieu of Orange and the other states belonging to that family in Franche Compté. The king of Portugal was satisfied; and the first day of June was fixed as the period of time granted to the emperor for consideration.

A day being appointed by the commons to deliberate upon the treaty of commerce, very just and weighty objections were made to the eighth and ninth articles, importing, that Great Britain and France should mutually enjoy all the privileges in trading with each other that either granted to the most favoured nation; and that no higher customs should be exacted from the commodities of France, than those that were drawn from the same productions of any other people. The balance of trade having long inclined to the side of France, severe duties had been laid on all the productions and manufactures of that kingdom, so as almost to amount to a total prohibition. Some members observed, that by the treaty between England and Portugal, the duties charged upon the wines of that country were lower than those laid upon the wines of France; that should they now be reduced to an equality, the difference of freight was so great, that the French wines would be found much cheaper than those of Portugal; and, as they were more agreeable to the taste of the nation in general, there would be no market for the Portuguese wines in England; that should this be the case, the English would lose their trade with Portugal, the most advantageous of any traffic which they now carried on; for it consumed a great quantity of their manufactures, and returned a yearly sum of six hundred thousand pounds in gold. Mr. Nathaniel Gould, formerly governor of the bank, affirmed, that as France had since the revolution encouraged woollen manufactures, and prepared at home several commodities which formerly they drew from England; so the English had learned to make silk stuffs, paper, and all manner of toys, formerly imported from France; by which means an infinite number of artificers were employed, and a vast sum annually saved to the nation; but these people would now be reduced to beggary, and that money lost again to the kingdom, should French commodities of the same kind be imported under ordinary duties, because labour was much cheaper in France than in England, consequently the British manufactures would be undersold and ruined. He urged, that the ruin of the silk manufacture would be attended with another disadvantage. Great quantities of woollen cloths were vended in Italy and Turkey, in consequence of the raw silk which the English merchants bought up in those countries; and, should the silk manufacture at home be lost, those markets for British commodities would fail of course. Others alleged, that if the articles of commerce had been settled before the English troops separated from those of the confederates, the French king would not have presumed to insist upon such terms, but have been glad to comply with more moderate conditions. Sir William Wyndham reflected on the late ministry, for having neglected to make an advantageous peace when it was in their power. He said that Portugal would always have occasion for the woollen manufactures and the corn of England, and be obliged to buy them at all events. After a violent debate, the house resolved, by a great majority, that a bill should be brought in to make good the eighth and ninth articles of the treaty of commerce with France. Against these articles, however, the Portuguese minister presented a memorial, declaring, that should the duties on French wines be lowered to the same level with those that were laid on the wines of Portugal, his master would renew the prohibition of the woollen manufactures and other products of Great Britain. Indeed, all the trading part of the nation exclaimed against the treaty of commerce, which seems to have been concluded in a hurry, before the ministers fully understood the nature of the subject. This precipitation was owing to the fears that their endeavours after peace would miscarry, from the intrigues of the whig faction, and the obstinate opposition of the confederates.