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ONE:During this period a vast empire was beginning to unfold itself in the East Indies, destined to produce a vast trade, and pour a perfect mine of wealth into Great Britain. The victories of Clive, Eyre Coote, and others, were telling on our commerce. During the early part of this period this effect was slow, and our exports to India and China up to 1741 did not average more than ��148,000 per annum in value. Bullion, however, was exported to pay expenses and to purchase tea to an annual amount of upwards of half a million. Towards the end of this period, however, our exports to India and China amounted annually to more than half a million; and the necessity for the export of bullion had sunk to an annual demand for less than ��100,000. The amount of tea imported from China during this period rose from about 140,000 pounds annually to nearly 3,000,000 pounds annually��an enormous increase.

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