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cent。 This subsidy； which is now called the Old Subsidy； still
continues to be levied according to the book of rates established
in the twelfth of Charles II。 The method of ascertaining； by a
book of rates； the value of goods subject to this duty is said to
be older than the time of James I。 The New Subsidy imposed by the
ninth and tenth of William III was an additional five per cent
upon the greater part of goods。 The One…third and the Two…third
Subsidy made up between them another five per cent of which they
were proportionable parts。 The Subsidy of 1747 made a fourth five
per cent upon the greater part of goods； and that of 1759 a fifth
upon some particular sorts of goods。 Besides those five
subsidies； a great variety of other duties have occasionally been
imposed upon particular sorts of goods； in order sometimes to
relieve the exigencies of the state； and sometimes to regulate
the trade of the country according to the principles of the
mercantile system。
That system has come gradually more and more into fashion。
The Old Subsidy was imposed indifferently upon exportation as
well as importation。 The four subsequent subsidies； as well as
the other duties which have been occasionally imposed upon
particular sorts of goods have； with a few exceptions； been laid
altogether upon importation。 The greater part of the ancient
duties which had been imposed upon the exportation of the goods
of home produce and manufacture have either been lightened or
taken away altogether。 In most cases they have been taken away。
Bounties have even been given upon the exportation of some of
them。 Drawbacks too； sometimes of the whole； and； in most cases；
of a part of the duties which are paid upon the importation of
foreign goods； have been granted upon their exportation。 Only
half the duties imposed by the Old Subsidy upon importation are
drawn back upon exportation： but the whole of those imposed by
the latter subsidies and other imposts are； upon the greater part
of goods； drawn back in the same manner。 This growing favour of
exportation； and discouragement of importation； have suffered
only a few exceptions； which chiefly concern the materials of
some manufactures。 These our merchants and manufacturers are
willing should come as cheap as possible to themselves； and as
dear as possible to their rivals and competitors in other
countries。 Foreign materials are； upon this account； sometimes
allowed to be imported duty free； Spanish wool； for example；
flax； and raw linen yarn。 The exportation of the materials of
home produce； and of those which are the particular produce of
our colonies； has sometimes been prohibited； and sometimes
subjected to higher duties。 The exportation of English wool has
been prohibited。 That of beaver skins； of beaver wool； and of gum
Senega has been subjected to higher duties。 Great Britain； by the
conquest of Canada and Senegal； having got almost the monopoly of
those commodities。
That the mercantile system has not been very favourable to
the revenue of the great body of the people； to the annual
produce of the land and labour of the country； I have endeavoured
to show in the fourth book of this Inquiry。 It seems not to have
been more favourable to the revenue of the sovereign； so far at
least as that revenue depends upon the duties of customs。
In consequence of that system； the importation of several
sorts of goods has been prohibited altogether。 This prohibition
has in some cases entirely prevented； and in others has very much
diminished the importation of those commodities by reducing the
importers to the necessity of smuggling。 It has entirely
prevented the importation of foreign woollens； and it has very
much diminished that of foreign silks and velvets。 In both cases
it has entirely annihilated the revenue of customs which might
have been levied upon such importation。
The high duties which have been imposed upon the importation
of many different sorts of foreign goods； in order to discourage
their consumption in Great Britain； have in many cases served
only to encourage smuggling； and in all cases have reduced the
revenue of the customs below what more moderate duties would have
afforded。 The saying of Dr。 Swift； that in the arithmetic of the
customs two and two； instead of making four； make sometimes only
one； holds perfectly true with regard to such heavy duties which
never could have been imposed had not the mercantile system
taught us； in many cases； to employ taxation as an instrument；
not of revenue； but of monopoly。
The bounties which are sometimes given upon the exportation
of home produce and manufactures； and the drawbacks which are
paid upon the re…exportation of the greater part of foreign
goods； have given occasion to many frauds； and to a species of
smuggling more destructive of the public revenue than any other。
In order to obtain the bounty or drawback； the goods； it is well
known； are sometimes shipped and sent to sea； but soon afterwards
clandestinely relanded in some other part of the country。 The
defalcation of the revenue of customs occasioned by the bounties
and drawbacks； of which a great part are obtained fraudulently；
is very great。 The gross produce of the customs in the year which
ended on the 5th of January 1755 amounted to L5；068；000。 The
bounties which were paid out of this revenue； though in that year
there was no bounty upon corn； amounted to L167；800。 The
drawbacks which were paid upon debentures and certificates； to
L2；156；800。 Bounties and drawbacks together amounted to
L2；324；600。 In consequence of these deductions the revenue of the
customs amounted only to L2；743；400： from which； deducting
L287；900 for the expense of management in salaries and other
incidents； the net revenue of the customs for that year comes out
to be L2；455；500。 The expense of management amounts in this
manner to between five and six per cent upon the gross revenue of
the customs； and to something more than ten per cent upon what
remains of that revenue after deducting what is paid away in
bounties and drawbacks。
Heavy duties being imposed upon almost all goods imported；
our merchant importers smuggle as much and make entry of as
little as they can。 Our merchant exporters； on the contrary； make
entry of more than they export； sometimes out of vanity； and to
pass for great dealers in goods which pay no duty； and sometimes
to gain a bounty or a drawback。 Our exports； in consequence of
these different frauds； appear upon the customhouse books greatly
to overbalance our imports； to the unspeakable comfort of those
politicians who measure the national prosperity by what they call
the balance of trade。
All goods imported； unless particularly exempted； and such
exemptions are not very numerous； are liable to some duties of
customs。 If any goods are imported not mentioned in the book of
rates； they are taxed at 4s。 9 9/20d。 for every twenty shillings
value； according to the oath of the importer； that is； nearly at
five subsidies； or five poundage duties。 The book of rates is
extremely comprehensive； and enumerates a great variety of
articles； many of them little used； and therefore not well known。
It is upon this account frequently uncertain under what article a
particular sort of goods ought to be classed； and consequently
what duty they ought to pay。 Mistakes with regard to this
sometimes ruin the custom…house officer； and frequently occasion
much trouble； expense； and vexation to the importer。 In point of
perspicuity； precision； and distinctness； therefore； the duties
of customs are much more inferior to those of excise。
In order that the greater part of the members of any society
should contribute to the public revenue in proportion to their
respective expense； it does not seem necessary that every single
article of that expense should be taxed。 The revenue which is
levied by the duties of excise is suppo