It is therefore quite ridiculous, to strike a balance merely on the face of an excess of imports and exports, in that commerce; though, in most foreign branches, it is, on the whole, the best method.

If we should take that standard, it would appear, that the balance with our own islands is, annually, several hundred thousand pounds against this country.[45] Such is its aspect on the custom-house entries; but we know the direct contrary to be the fact.

We know that the West-Indians are always indebted to our merchants, and that the value of every shilling of West India produce is English property.

So that our import from them, and not our export, ought always to be considered as their true value; and this corrective ought to be applied to all general balances of our trade, which are formed on the ordinary principles.
If possible, this was more emphatically true of the French West India islands, whilst they continued in our hands.

That none or only a very contemptible part, of the value of this produce could be remitted to France, the author will see, perhaps with unwillingness, but with the clearest conviction, if he considers, that in the year 1763, _after we had ceased to export_ to the isles of Guadaloupe and Martinico, and to the Havannah, and after the colonies were free to send all their produce to Old France and Spain, if they had any remittance to make; he will see, that we imported from those places, in that year, to the amount of 1,395,300_l._ So far was the whole annual produce of these islands from being adequate to the payments of their annual call upon us, that this mighty additional importation was necessary, though not quite sufficient, to discharge the debts contracted in the few years we held them.