For, As He Remarks, "It Is No
Constant Rule That Trade Makes Riches.
The only and certain scale of riches
arising from trade in a nation is, the proportion of what is exported for
the consumption of others, to what is imported for their own.
The true
ground of this proportion lies in the general industry and parsimony of a
people, or in the contrary of both." But the Dutch being industrious, and
consequently producing much, - and parsimonious, and consequently consuming
little, have much left for exportation. Hence, never any country traded so
much and consumed so little. "They buy infinitely, but it is to sell again.
They are the great masters of the Indian spices, and of the Persian silks,
but wear plain woollen, and feed upon their own fish and roots. Nay, they
sell the finest of their own cloth to France, and buy coarse out of England
for their own wear. They send abroad the best of their own butter into all
parts, and buy the cheapest out of Ireland or the north of England for
their own use. In short, they furnish infinite luxury which they never
practise, and traffic in pleasures which they never taste." "The whole body
of the civil magistrates, the merchants, the rich traders, citizens, seamen
and boors in general, never change the fashion of their cloaths; so that
men leave off their cloaths only because they are worn out, and not because
they are out of fashion. Their great consumption is French wine and brandy;
but what they spend in wine they save in corn, to make other drinks, which
is brought from foreign parts. Thus it happens, that much going constantly
out, either in commodity or in the labour of seafaring men, and little
coming in to be consumed at home, the rest returns in coin, and fills the
country to that degree, that more silver is seen in Holland, among the
common hands and purses, than brass either in Spain or in France; though
one be so rich in the best native commodities, and the other drain all the
treasures of the West Indies." (Sir W. Temple's Observations on the
Netherlands, Chapter VI.)
Having thus sketched the progress and nature of Dutch commerce, during that
period when it was at its greatest height, and brought our account of it
down to the commencement of the eighteenth century, we shall next proceed
to consider the English commerce from the time of the discovery of the Cape
and America, till the beginning of the same century.
From the sketch we have already given of English commerce prior to the end
of the fifteenth century, it is evident that it was of very trifling extent
and amount, being confined chiefly to a few articles of raw produce, and to
some woollen goods. The improvement of the woollen manufacture, the
establishment of corporations, and the settlement of foreign merchants, as
well as the gradual advancement of the English in the civilization, skill,
and industry of the age, - in the wants which the first occasions, and in
the means to supply those wants afforded by the two latter, - these are the
obvious and natural causes which tended to improve English commerce. But
its progress was slow and gradual, and confined for a long time to
countries near at hand; it afterwards ventured to a greater distance.
Companies of merchant adventurers were formed, who could command a greater
capital than any individual merchant. Of the nature and extent of their
foreign commerce at the close of the fifteenth century we are informed by
an act of parliament, passed in the 12 Hen. VII. (1497.)
From this act it appears, that England traded at this time with Spain,
Portugal, Bretagne, Ireland, Normandy, France, Seville, Venice, Dantzic,
Eastland, Friesland, and many other parts. The woollen cloth of England is
particularly specified as one of the greatest articles of commerce. In a
licence granted by Henry VII. to the Venetians, to buy and sell at London,
and elsewhere in England, Ireland, and Calais, woollen cloth, lead, tin,
and leather, are enumerated as the chief exports. From this document it
also appears, that there resided in or traded to England, the following
foreign merchants: Genoese, Florentines, Luccans, Spaniards, Portuguese,
Flemings, Hollanders, Brabanters, Burgundians, German, Hanseatic, Lombards,
and Easterlings.
From these two documents, the nature and extent of English commerce at this
period may be inferred: its exports were sent as far north as the southern
countries of the Baltic, and to all the rest of Europe, as far south and
east as Venice; but this export trade, as well as the import, seems to have
been almost entirely carried on by foreign capital and ships; the merchant
adventurers having yet ventured very little from home.
In 1511, English commerce, in English ships, extended into the Levant,
chiefly from London, Bristol, and Southampton. Chios, which was still in
the possession of the Genoese, was the port to which they traded. This
branch of trade flourished so much in a few years, that in 1513 a consul,
or protector of all the merchants and other English subjects in Chios, was
appointed. The voyages were gradually lengthened, and reached Cyprus, and
Tripoli, in Syria. The exports were woollen goods, calf-skins, &c.; and the
imports were silks, camblets, rhubarb, malmsey, muscadel, and other wines:
oils, cotton wool, Turkey carpets, galls, and Indian spices. The commerce
was in a small degree carried on by English ships, but chiefly by those of
Candia, Ragusa, Sicily, Genoa, Venice, Spain, and Portugal. The voyages to
and from England occupied a year, and were deemed very difficult and
dangerous. So long as Chios remained in the possession of the Genoese, and
Candia in that of the Venetians, England traded with these islands; but
ceased to trade when the Turks conquered them. From 1553, to 1575, the
Levant commerce was quite discontinued by England, though during that
period, the French, Genoese, Venetians, and Florentines, continued it, and
had consuls at Constantinople.
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