Among The Favourable Circumstances May Be Reckoned The Taking Away Of The
Exclusive Privileges Of The Steelyard Merchants By Edward VI., By Which
Native Merchants Were Encouraged, Private Companies Of Them Formed, And The
Benefits Of Commerce More Extensively Diffused:
- The encouragement given by
Elizabeth, particularly by her minister Cecil, to commerce; this was so
great and well directed, that the customs which had been farmed, at the
beginning of the reign, for 14,000_l_.
A year, towards its close were
fanned for 50,000_l_.; - the pacific character of James I., and the
consequent tranquillity enjoyed by England during his reign; - the strong
and general stimulus which was given to individual industry, by the feeling
of their own importance, which the struggle between Charles I. and the
Parliament naturally infused into the great mass of the people; - the
increased skill in maritime affairs, which was produced by our naval
victories under Cromwell; - the great vigour of his government in his
relations with foreign powers; and the passing of the navigation act. The
Restoration, bringing a great fondness for luxury and expence, naturally
produced also exertions to gratify that fondness. If to these and other
causes of a similar nature, we add the introduction of East India
commodities direct to England, and the import trade to the West Indies and
America, the emigration of the industrious Flemings during the Spanish wars
in the Low Countries, and of the French after the revocation of the edict
of Nantz, we shall have specified most of the efficient circumstances,
which, in conjunction with the progress of mankind in industry and
civilization, were beneficial to our commerce.
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