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FORE:

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FORE:From the Picture by Robert Hillingford.Never was a returning prodigal greeted with more delight than was Sandy when, close to dusk, with a parcel under his arm, he joined Dick and Larry inside a little Summer house in the Everdail estate grove.

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FORE:The Company was then compelled to reduce its dividends to six per cent. and apply to Parliament for a loan of a million and a half to meet its pecuniary difficulties. This, Ministers and Parliament complied with, and proceeding to relieve the Company of its embarrassments, Lord North[208] proposed and carried a measure, by which the Company, which had no less than seventeen million pounds of tea in its warehouses, should, without limit of time, be authorised to export its teas to the British colonies of America duty free. This was thought a great and conciliatory boon to the Americans, but it proved otherwise. The import duty of threepence in the pound was still stubbornly retained, and the Americans, looking at the principle of taxation, and not at a mere temptation of a cheapened article, saw through the snare, and indignantly rejected it. The principal tea merchants declared that this would be the case, and that the whole Government scheme was wild and visionary.Defeated in this object, the Patriots united all their force to embroil us with Spain. There were many causes in our commercial relations with Spain which led to violent discontent amongst our merchants. They found the trade with the Spanish settlements in America exceedingly profitable, but they had no right, beyond a very limited extent, to trade there. The Spaniards, though they winked at many encroachments, repressed others which exceeded these with considerable vigour. Their Coastguard insisted on boarding and searching our vessels which intruded into their waters, to discover whether they were bringing merchandise or were prepared to carry away colonial produce. By the treaty of 1670 Spain had recognised the British colonies in North America, and England had agreed that her ships should not enter the ports of the Spanish colonies except from stress of weather, or with an especial licence from the Spanish Government to trade. By the treaty of 1729 we had agreed to the old regulations regarding trading to the Spanish Main, namely, that we should have the Assiento, or right of supplying these colonies with slaves, and that, besides this, we should only send one ship annually to the Spanish West Indies and South America. As fast as that authorised ship discharged its cargo in a Spanish port, she received fresh supplies of goods over her larboard side from other vessels which had followed in her wake, and thus poured unlimited quantities of English goods into the place. Other English traders did not approach too near the Spanish coasts, but were met in certain latitudes by South American smugglers, who there received their goods and carried them into port. In short, such a system of contraband trade was carried on in these waters by our merchants, that English goods in abundance found their way all over the Spanish American regions, and the great annual fair for goods imported from or by Spain dwindled into insignificance.

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