proportion, though I think not a full and just equality to the provisions,
as follows:--silver was at 2s. 4d. per ounce, and gold at 2_l._ 5s. to
2_l._ 10s. per ounce; something less in the silver, and more in the gold
than half of the present value.

As for the rate of lands and houses, they bore a yet greater distance in
value from what they produce now; so that indeed it bears no proportion,
for we find the rent of lands so raised, and their value so improved, that
there are many examples where the lands, valued even in queen Elizabeth's
days at 20_l._ to 25_l._ per annum, are now worth from 200_l._ to 300_l._
per annum, and in some places much more.

It is true, this advance is to be accounted for by the improvement made of
the soil, by manuring, cultivating, and enclosing; by stocks of cattle, by
labour, and by the arts of husbandry, which are also improved; and so this
part is not so immediately within my present design; it is a large
subject, and merits to be spoken of at large by itself; because as the
improvement of land has been extraordinary great, and the landed interest
is prodigiously increased by it, so it is capable of much more and greater
improvement than has been made for above a hundred years past. But this I
say is not my present design; it is too great an article to be couched in
a few words.

Yet it requires this notice here; viz., that trade has been a principal
agent even in the improvement of our land; as it has furnished the money
to the husbandman to stock his land, and to employ servants and labourers
in the working part; and as it has found him a market for the consumption
of the produce of his land, and at an advanced price too, by which he has
received a good return to enable him to go on.

The short inference from these premises is this: as by trade the whole
kingdom is thus advanced in wealth, and the value of lands, and of the
produce of lands, and of labour, is so remarkably increased, why should we
not go on with vigour and spirit in trade, and by all proper and possible
methods and endeavours, increase and cultivate our commerce; that we may
still increase and improve in wealth, in value of lands, in stock, and in
all the arts of trade, such as manufactures, navigation, fishery,
husbandry, and, in short, study an improvement of trade in all its
branches.

No doubt it would be our wisdom to do thus; and nothing of the kind can be
more surprising than that it should not be our pr