John Trenchard

“ The Dutch make other advantages of their forts and garrisons, which is to keep great conquered realms and powerful kings in subjection, and secure to themselves the whole commerce of their countries, by which means they have almost the monopoly of the spices of the world; of which, it is said, they every year burn mountains to keep up the price, as all exclusive companies will ever do: But we have scarce any trade to some of those places, where we are at the charge of keeping forts, which stand there no mortal can tell why. ”

“ This will be often the interest of particular men, but can never be the interest of the whole society, or the major part of them; whose interest must ever be the general interest, that is, the diffusive advantage of the whole, which must suffer in proportion to what any man gets irregularly, and therefore it is their common duty to prevent the unfair gains and depredations of one another ”

“ The old useful laws against regraters, forestallers, &c. all lie fast asleep, and no new ones are thought on to enforce them; yet the nobility and gentry of England spend many months every year in Parliament, see all this, buy their own productions at a price by many times greater than they sell them; but are so wholly taken up with other much less views, that they suffer this great mischief to go on, and every day to increase, upon no other pretence than the privileges of particular societies of tradesmen, who pretend a right to oppression ”

“ The success and improvements of trade depend wholly upon supplying the commodities cheap at market; and whoever can afford those of equal goodness at but half per cent cheaper than his neighbour, will command any sale. Now it is impossible that any company can do this upon equal terms with a private merchant, nor would they if they could. ”

“ It is true, that no government ought to take away men’s natural rights, the business and design of government itself being to defend them; but sure such partial and adventitious advantages as they receive to the detriment of others by ill laws may be taken away by good ones: But no sooner any attempt is made to remedy these universal grievances, but the clamour and solicitation of these humble and inferior oppressors puts an end to the remedy. ”

“ But these are petty abuses, when compared to the much greater grievances of uniting great numbers of artful and wealthy merchants into conspiracies and combinations against general trade; and by that means giving or selling the industry and acquirements of a whole nation to satiate and glut a few over-grown plunderers, and in the end to destroy the trade itself; which must ever be the case, when trade is committed to the management of exclusive companies. ”

“ But if these trustees be ever so honest, they will not take the same pains for others as for themselves; nor can it be expected that men of their fortunes will employ their whole time for such allowances as are or can be afforded by the society who employs them.
Besides, it is the interest of the nation to sell their commodities at as good a price as the markets abroad can afford to buy them, and to bring in foreign commodities as cheap as they can afford to sell them ”

“ But supposing that forts were necessary to carry on any particular trade, what colour is there to deny that they ought to be kept at the publick expence, or by the contributions of all the merchants, who are to receive advantage from them in proportion to the trade which they carry on; or what pretence is there to confine an advantageous trade to one town alone, and to but few men in that town? ”

“ All the gentlemen through England have their estates ransacked, and are deprived of whatever makes their tables elegant and curious, to put fishmongers and poulterers’ wives, at London, in laces and jewels, without adding to the plenty there, much of it being destroyed, or suffered to rot or stink, by those miscreants, to keep up the price: Their cattle sell for little in the country, and will not pay the grazier, who must pay them their rents ”

“ I have often wondered how whole societies (every one of which intends most religiously himself and his own benefit) can yet, all together, so easily be made the dupes of one another, or of lesser societies among themselves, not only in such matters as do not fall within vulgar observation, but in instances which are obvious to the meanest capacities. ”

“ SIR, I have in my last letter given some instances of men, who, separating themselves from the publick, act against their own interest, by being too partial to it; but I confess it sometimes happens, that private persons may receive personal advantages from publick losses; and then, considering the depravity of human nature, we are not to hope, and less to presume upon their acting against themselves for other advantages. ”

“ Besides all this, they keep forts abroad at a great expence, to colour the necessity of such monopolies, and to oppress and rob the natives there with security; for it is a jest to imagine that they can any ways conduce to fair trade. ”

“ Those who have the direction of their affairs, have often but small part of their fortunes embarked in their stock, and always have an interest separate from that of the company, and commonly if not always, raise vast estates at their expence; the materials of their ships, and the commodities which they carry, are generally sold by themselves, or bought of their friends and relations by confederacy, at exorbitant prices: Favourite shipwrights are employed for presents ”

“ Private men will think of every way to come at their goods cheap, will make it their whole business to work up the manufactures themselves, or buy them at the best hand, will search narrowly into their excellencies or defects, will procure carriage at the lowest prices, see them shipped themselves, and sometimes sell them in person, and as they find proper and advantageous opportunities ”