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Upon all these accounts, the precious metals are a commodity

which it always has been, and still continues to be, extremely

advantageous to carry from Europe to India. There is scarce any

commodity which brings a better price there; or which, in

proportion to the quantity of labour and commodities which it

costs in Europe, will purchase or command a greater quantity of

labour and commodities in India. It is more advantageous, too, to

carry silver thither than gold; because in China, and the greater

part of the other markets of India, the proportion between fine

silver and fine gold is but as ten, or at most as twelve to one;

whereas in Europe it is as fourteen or fifteen to one. In China,

and the greater part of the other markets of India, ten, or at

most twelve ounces of silver, will purchase an ounce of gold; in

Europe, it requires from fourteen to fifteen ounces.