Book IV: Chapter 6 - Page 2

silver would be annually returned to it. It is upon this
principle that the treaty of commerce between England and
Portugal, concluded in 1703 by Mr Methuen, has been so much
commended. The following is a literal translation of that treaty,
which consists of three articles only.

ART. I.

His sacred royal majesty of Portugal promises, both in his own
name and that of his successors, to admit for ever hereafter,
into Portugal, the woollen cloths, and the rest of the woollen
manufactures of the British, as was accustomed, till they were
prohibited by the law ; nevertheless upon this condition :

ART. II.

That is to say, that her sacred royal majesty of Great Britain
shall, in her own name, and that of her successors, be obliged,
for ever hereafter, to admit the wines of the growth of Portugal
into Britain; so that at no time, whether there shall be peace or
war between the kingdoms of Britain and France, any thing more
shall be demanded for these wines by the name of custom or duty,
or by whatsoever other title, directly or indirectly, whether
they shall be imported into Great Britain in pipes or hogsheads,
or other casks, than what shall be demanded for the like quantity
or measure of French wine, deducting or abating a third part of
the custom or duty. But if, at any time, this deduction or
abatement of customs, which is to be made as aforesaid, shall in
any manner be attempted and prejudiced, it shall be just and
lawful for his sacred royal majesty of Portugal, again to
prohibit the woollen cloths, and the rest of the British woollen
manufactures.

ART. III.

The most excellent lords the plenipotentiaries promise and take
upon themselves, that their above named masters shall ratify this
treaty; and within the space of two months the ratification shall
be exchanged.

By this treaty, the crown of Portugal becomes bound to admit the
English woollens upon the same footing as before the prohibition;
that is, not to raise the duties which had been paid before that
time. But it does not become bound to admit them upon any better
terms than those of any other nation, of France or Holland, for
example. The crown of Great Britain, on the contrary, becomes
bound to admit the wines of Portugal, upon paying only two-thirds
of the duty which is paid for those of France, the wines most
likely to come into competition with them. So far this treaty,
therefore, is evidently advantageous to Portugal, and
disadvantageous to Great Britain.

It has been celebrated, however, as a masterpiece of the
commercial policy of England. Portugal receives annually from the
Brazils a greater quantity of gold than can be employed in its
domestic commerce, whether in the