Frequent conferences on this subject were held in his
presence; the Deputies of the Chambers of Commerce were heard, and
the result was the Arret of Dec. 29. 1787. confirming the abatements
of duty present and future, which the letter of Octob. 1786. had
promised, and reserving to his Majesty to grant still further favours
to that production, if on further information he should find it for
the interest of the two Nations.
The English had now begun to deluge the markets of France with
their whale oils: and they were enabled by the great premiums given
by their Government to undersell the French fisherman, aided by
feebler premiums, and the American aided by his poverty alone. Nor
is it certain that these speculations were not made at the risk of
the British Government, to suppress the French and American fishermen
in their only market. Some remedy seemed necessary. Perhaps it
would not have been a bad one to subject, by a general law, the
merchandize of every nation and of every nature to pay additional
duties in the ports of France exactly equal to the premiums and
drawbacks given on the same merchandise by their own government.
This might not only counteract the effect of premium in the instance
of whale oils, but attack the whole British system of bounties and
drawbacks by the aid of which they make London the center of commerce
for the whole earth.
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