upon every occasion, and suffer
them to snatch the present opportunity of honest gain, whenever it shall
happen; they will never injure their own interest by the use of this
liberty, and by preserving themselves, they will preserve the nation
from detriment; nor will they need to be restrained by a law proposed
without their solicitation, and of which they cannot discover any
beneficial consequences.

Mr. Horace WALPOLE spoke next, to this purpose:--Sir, for the bill now
before us I have no particular fondness, nor desire that it should be
promoted by any other means than rational arguments, and the
representation of indubitable facts.

I have no regard, sir, in this inquiry, to any private interest, or any
other desire than that of securing the interest of my country, which, in
my opinion, evidently requires that we should give no assistance to our
enemies, that our merchants should cooperate with our navies, and that
we should endeavour to withhold every thing that may make the war less
burdensome to them, and, consequently, of longer continuance.

It was observed, sir, in the beginning of the debate, by a gentleman
eminently skilled in mercantile affairs, that insurance was practised by
many nations; but he did not inform us of what one of the clauses makes
it proper to inquire, whether they allowed the method of insuring
_interest or no interest_, and rating ships at an imaginary value. This
is, I know, prohibited by the Dutch, a nation whose authority on
commercial questions will not be disputed, nor do they allow their East
Indian ships to be insured at all.

The difficulty of estimating the value of any cargo has been urged in
defence of this practice, nor is the defence wholly without weight,
because the cargo in many voyages cannot be ascertained. I shall,
however, take this opportunity of observing, though I may somewhat
digress from the present argument, how necessary it is that some of our
exported cargoes should be exactly specified.

I have been lately informed, sir, that six ships laden with British
wool, have entered at one time into a port of France; nor do I know how
this practice, which is justly complained of as pernicious to our trade,
and threatening the ruin of our country, can be prevented but by a
constant and regular particularization of every cargo carried to France.

I admit, sir, that some cargoes which are imported cannot be
particularly registered; such is the gold with which we are