Part 1 The nature of the Glasgow merchant community: the tobacco merchants of Glasgow; merchant investments - land; merchant investments - industry. Part 2 Trading methods and organization in the Glasgow tobacco trade: the organization of the Glasgow tobacco trade c 1740-90; the emergence of the tobacco companies; the tobacco farm in Virginia, William Cunninghame and Company, 1768-75; sources of capital for the Glasgow tobacco trade. Part 3 Glasgow tobacco merchants and the American war of independence: merchant reaction to the American war; the opportunities of trade during the American war; the difficulties of trade during the American war. Part 4 The aftermath of the American war of independence: the problem of Glasgow's pre-war debts; the renewal of trade with North America after 1783.