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In this year, the Dutch had extended their trade to the west coast of Africa so much, that they had about 100 ships employed in the gold coast trade. About the same time, they formed a colony in North America, in that province now called New York. In 1611, having formed a truce with Spain, they resolved to venture into the Mediterranean, and endeavour to partake in the lucrative trade with the Levant: for this purpose, they sent an ambassador to Constantinople, where he concluded a favourable treaty of commerce. But by far the most extensive and lucrative commerce which the Dutch possessed in Europe, was in the Baltic: there they had gradually supplanted the Hanseatic League, and by the middle of the seventeenth century, nearly all the commodities of the countries lying on, or communicating with this sea, were supplied to the rest of Europe by the Dutch. In the year 1612, they first engaged in the whale fishery at Greenland. In 1648, taking advantage of the civil troubles in England, and having by this time acquired a powerful influence at the Russian court, they interfered with the trade of the English Russian Company at Archangel; and this new branch of trade they pushed with their national industry and perseverance, so that in 1689 they had 200 factors in this place.
In the year 1621 the Dutch formed a West India Company: their first objects were to reduce Brazil and Peru: in the latter they were utterly unsuccessful. By the year 1636 they had conquered the greater part of the coast of Brazil: they lost no time in reaping the fruits of this conquest: for in the space of thirteen years, they had sent thither 800 ships of war and commerce, which were valued at 4-1/2 millions sterling; and had in that time taken from Spain, then sovereign of Portugal, 545 ships. In the year 1640 the Portuguese shook off the Spanish yoke, and from this event may be dated the decline of the Dutch power in Brazil: in 1654 they were entirely expelled from this country.
In the year 1651, they colonized the Cape of Good Hope; and in the same year, began the obstinate and bloody maritime, war between Holland and England. This arose principally from the navigation act, which was passed in England in 1650: its object and effect was to curtail the commerce between England and Holland, which consisted principally of foreign merchandize imported into, and English merchandize exported from, England in Dutch vessels. In this war, the Dutch lost 700 merchant ships in the years 1652 and 1653. In 1654, peace was made. The object of the navigation act, at least so far as regarded the Dutch acting as the carriers of the English trade, seems to have been completely answered, for in 1674, after a great frost, when the ports were open, there sailed out of the harbour of Rotterdam above 300 sail of English, Scotch, and Irish ships at one time. The example of the English being followed by the nations of the north, the Dutch carrying trade was very much reduced. Between the years 1651 and 1672, when Holland was overrun by the French, their commerce seems to have reached the greatest extent, which it attained in the seventeenth century; and perhaps, at no subsequent period, did it flourish so much. De Witt estimates the increase of their commerce and navigation from the peace with Spain in 1648 to the year 1669, to be fully one-half. He adds, that during the war with Holland, Spain lost the greater part of her naval power: that since the peace with Spain, the Dutch had obtained most of the trade to that country, which had been previously carried on by the Easterlings and the English;—that all the coasts of Spain were chiefly navigated by Dutch shipping: that Spain had even been forced to hire Dutch ships to sail to her American possessions; and that so great was the exportation of goods from Holland to Spain, that all the merchandize brought from the Spanish West Indies, was not sufficient to make returns for them.
The same author informs us, that in the province of Holland alone, in 1669, the herring and cod fisheries employed above one thousand busses, from twenty-four to thirty lasts each; and above 170 smaller ones: that the whale fishery was increased from one to ten; that the cod and herring, when caught, were transported by the Hollanders in their own vessels throughout the world; thus obtaining, by means of the sea alone, through their own industry, above 300,000 lasts of salt fish.
As the Dutch commerce was decidedly and undoubtedly more extensive than that of all the rest of Europe, about the middle of the seventeenth century, it may be proper, before we conclude our notice of it at this time, to consider briefly the causes which cherished it into such full growth and vigour. These causes are explained in a very judicious and satisfactory manner by Sir William Temple, in his observations on the Netherlands. He remarks, that though the territory of the Dutch was very small, and though they laboured under many natural disadvantages, yet their commerce was immense; and it was generally esteemed that they had more shipping belonging to them than there did to all the rest of Europe.
They had no native commodities towards the building or equipping their ships; their flax, hemp, pitch, wood, and iron, coming all from abroad, as wool does for clothing their men, and corn for feeding them. The only productions or manufactures of their own, which they exported, were butter, cheese, and earthern wares. They have no good harbours in all their coast; even Amsterdam is difficult of approach, from the dangerous entrance of the Texel, and the shallowness of the Zuider Zee.
What then were the causes which, in spite of these disadvantages, rendered Holland so commercial? In the first place, great multitudes in small compass, who were forced to industry and labour, or else to want. In the second place, the emigration of men of industry, skill, and capital, driven into Holland from Germany, France, and England, by persecution and civil wars. In the third place, the security to property established by the government of the United States; and akin to this, general liberty of conscience in religious matters. The great fairs in the Netherlands may be regarded as another cause. These Sir W. Temple regards as the principal causes of the foundation of their trade. He next enquires into the chief advancers and encouragers of trade in that country.
These he considers to have been low interest, which caused money to be easily obtained, not only for the purposes of commerce, but also to make canals, bridges, &c. and to drain marshes. The use of their banks, which secures money, and makes all payments easy and trade quick,—the sale by registry, which makes all purchases safe,—the severity of justice, especially with regard to forging bills,—the convoys of merchant ships, which gives trade security, the nation credit abroad, and breeds up seamen,—the lowness of their custom duties and freedom of their ports, which rendered their cities magazines as well as markets,—order and exactness in managing their trade,—each town affecting some particular commerce or staple, and so improving it to the greatest height; as Flushing, the West India trade; Middleburgh, French wines; Terveer, the Scotch staple; Dort, the English staple and Rhenish wines; Rotterdam, the English and Scotch trade at large, and French wines; Leyden, the manufacture of all sorts of stuffs, silk, hair, gold, and silver; Haerlem, linen, mixed stuffs, and flowers; Delft, beer and earthen ware; Swaardam, ship building; Sluys, herring fishery; Friezeland, the Greenland trade; and Amsterdam, the East India, Spanish, and Mediterranean trade. Sir W. Temple mentions other two causes, the great application of the whole province to the fishing trade, and the mighty advance the Dutch made towards engrossing the whole commerce of the East Indies. "The stock of this trade," he observes, "besides what it turns to in France, Spain, Italy, the Straits, and Germany, makes them so great masters in the trade of the northern parts of Europe, as Muscovy, Poland, Pomerania, and all the Baltic, where the spices, that are an Indian drug and European luxury, command all the commodities of those countries which are so necessary to life, as their corn; and to navigation, as hemp, pitch, masts, planks, and iron."
The next question that Sir William Temple discusses is, what are the causes which made the trade of Holland enrich it? 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.
The small and temporary trade with the Genoese and Venetian possessions in the Levant, seems to have been attended with such profit, and to have opened up such further prospects of advantage, as to have given rise to a direct trade with Turkey, and the formation of the Turkey Company. The enlightened ministers of Elizabeth effected these objects: they first sent out an English merchant to the Sultan, who obtained for his countrymen all the commercial advantages enjoyed by the Venetians, French, Germans, and Poles. Two years afterwards, in 1581, the Turkey Company was established. Sir William Monson, in his Naval Tracts, assigns the following as the causes and reasons why England did not sooner embark in the Turkey trade for Persian and Indian merchandize: 1. That there was not sufficient shipping; 2. the hostility of the Turks; and, lastly, England was supplied with Levant goods by the Venetian ships, which came annually to Southampton. He adds, "the last argosser that came thus from Venice was unfortunately lost near the isle of Wight, with a rich cargo, and many passengers, in the year 1587." The Turkey Company carried on their concern with so much spirit, that the queen publicly thanked them, with many encouragements to go forward for the kingdom's sake: she particularly commended them for the ships they then built of so great burden. The commodities of Greece, Syria, Egypt, Persia, and India, were now brought into England in greater abundance, and sold much cheaper than formerly, and yet the returns of this trade are said to have been, at its commencement, three to one.
It is not our object, nor would it be compatible with our limits, to trace the progress of commerce minutely, in any of its branches, but rather to point out, as it were, its shootings in various directions; and any special causes which may have given vigour to its growth, or have retarded it. In conformity with this plan, we shall only notice some of the more marked and important eras of our Levant trade, prior to the commencement of the eighteenth century. The trade to the Levant, in its infancy, like all other trades, at a time when there was little capital and commercial knowledge, required the formation of a company which should possess exclusive privileges. Charters were granted to such a company for a term of years, and renewed by Elizabeth. In 1605 king James gave a perpetual charter to the Levant Company: the trade was carried on with encreasing vigour and success: our woollen manufactures found a more extensive market: the Venetians, who had for many years supplied Constantinople and other ports of the Levant, were driven from their markets by the English, who could afford to sell them cloths cheaper; and English ships began to be preferred to those of Venice and other nations, for the carrying trade in the Mediterranean. According to Sir W. Monson, England exported broad cloth, tin, &c. enough to purchase all the wares we wanted in Turkey; and, in particular, 300 great bales of Persian raw silk yearly: "whereas a balance of money is paid by the other nations trading thither. Marseilles sends yearly to Aleppo and Alexandria at least 500,000l. sterling, and little or no wares. Venice sends about 400,000l. in money, and a great value in wares besides: the Low Countries send about 50,000l., and but little wares; and Messina 25,000l. in ready money: besides great quantities of gold and dollars from Germany, Poland, Hungary, &c.; and all these nations take of the Turks in return great quantities of camblets, grograms, raw silk, cotton wool and yarn, galls, flax, hemp, rice, hides, sheep's wool, wax, corn, &c."
The first check which the Levant trade received was given by the East India Company: about the year 1670 the Levant Company complained that their trade in raw silk was much diminished; they had formerly imported it solely from Turkey, whereas then it was imported in great quantities direct from India. In 1681, the complaints of the one company, and the defence of the other, were heard before the Privy Council. The Levant Company alleged, that for upwards of one hundred years they had exported to Turkey and other parts of the Levant, great qualities of woollen manufactures, and other English wares, and did then, more especially, carry out thither to the value of 500,000l; in return for which they imported raw silks, galls, grograms, drugs, cotton, &c.; whereas the East India Company exported principally gold and silver bullion, with an inconsiderable quantity of cloth; and imported calicoes, pepper, wrought silks, and a deceitful sort of raw silk; if the latter supplants Turkey raw silk, the Turkey demand for English cloth must fail, as Turkey does not yield a sufficient quantity of other merchandize to return for one fourth part of our manufactures carried thither.
The East India Company, on the other hand, alleged that the cloth they exported was finer and more valuable than that exported by the Turkey Company, and that, if they were rightly informed, the medium of cloths exported by that company, for the last three years, was only 19,000 cloths yearly: it is admitted, however, that before there was any trade to China and Japan, the Turkey Company's exportation of cloth did much exceed that of the East India Company. With respect to the charge of exporting bullion, it was alleged that the Turkey Company also export it to purchase the raw silk in Turkey. The East India Company further contended, that since their importation of raw silk, the English silk manufacturers had much encreased, and that the plain wrought silks from India were the strongest, most durable, and cheapest of any, and were generally re-exported from England to foreign parts.
We have been thus particular in detailing this dispute between these companies, partly because it points out the state of the Levant Company and their commerce, at the close of the seventeenth century, but principally because it unfolds one of the principal causes of their decline; for, though some little notice of it will afterwards occur, yet its efforts were feeble, and its success diminished, chiefly by the rivalry of the East India Company.
The Levant trade, as we have seen, was gradually obtained by the English from the hands of the Venetians and other foreign powers. The trade we are next to notice was purely of English origin and growth;—we allude to the trade between England and Russia, which began about the middle of the sixteenth century. The discovery of Archangel took place, as we have already related, in 1553. Chanceller, who discovered it, obtained considerable commercial privileges from the Czar for his countrymen. In 1554, a Russian Company was established; but before their charter, the British merchants had engaged in the Russian trade. The first efforts of the company seem to have been confined to attempts to discover a north-east passage. Finding these unsuccessful, they turned their attention to commerce: they fortunately possessed a very enterprising man, peculiarly calculated to foster and strengthen an infant trade, who acted as their agent. He first set on foot, in 1558, a new channel of trade through Russia into Persia, for raw silk, &c. In the course of his commercial enquiries and transactions, he sailed down the Volga to Nisi, Novogorod, Casan, and Astracan, and thence across the Caspian Sea to Persia. He mentions that, at Boghar, which he describes as a good city, he found merchants from India, Persia, Russia, and Cathay,—from which last country it was a nine months journey to Boghar. He performed his journey seven different times. It appears, however, that this channel of trade was soon afterwards abandoned, till 1741, when it was resumed for a very short time, during which considerable quantities of raw silk were brought to England by the route followed by the Russian agent in the sixteenth century. The cause of this abandonment during the sixteenth century seems to have been the length and danger of the route; for we are informed that one of the adventures would have proved exceedingly profitable, had not their ships, on their return across the Caspian, with Persian raw silk, wrought silks of many kinds, galls, carpets, Indian spices, turquois stones, &c., been plundered by Corsair pirates, to the value of about 40,000l. The final abandonment of this route, in the eighteenth century, arose partly from the wars in Persia, but principally from the extension of India commerce, which being direct and by sea, would, of course supply England much more cheaply with all eastern goods than any land trade. Beside the delay, difficulty, and danger of the route from the Volga, already described, the route followed in the sixteenth century, till the merchants reached the Volga, was attended with great difficulty. The practice was to transport the English goods, which were to be exchanged, in canoes, up the Dwina, from Archangel to Vologda, thence over land, in seven days, to Jeroslau, and thence down the Volga, in thirty days, to Astracan.
The Russians having conquered Narva, in Livonia in 1558, the first place they possessed in the Baltic, and having established it as a staple port, the following year, according to Milton, in his brief history of Muscovia, the English began to trade to it, "the Lubeckers and Dantzickers having till then concealed that trade from other nations." The other branches of the Baltic trade also encreased; for it appears by a charter granted by Elizabeth, in 1579, to an Eastland Company, that trade was carried on between England and Norway, Sweden, Poland, Lithuania, Prussia, Pomerania, Dantzic, Elbing, Konigsberg, Copenhagen, Elsinore, and Finland. This company was established in opposition to the Hanseatic merchants; and it seems to have attained its object; for these merchants complained to the Diet of the Empire against England, alleging, that of the 200,000 cloths yearly exported thence, three-fourths went into Denmark, Sweden, Poland, and Germany; the other fourth being sent to the Netherlands and France.
It was not to be supposed that our commerce with Archangel and Narva would long remain without a rival. The Dutch, aware of its importance, prevented by their influence or presents, the Czar from renewing the Russian Company's privileges. As this trade was become more extensive, and carried off, besides woollen goods, silks, velvets, coarse linen cloth, old silver plate, all kinds of mercery wares, serving for the apparel of both sexes, purses, knives, &c. Elizabeth used her efforts to re-establish the company on its former footing; and a new Czar mounting the throne, she was successful.
The frequent voyages of the English to the White Sea made them acquainted with Cherry Island, of which they took possession, and where they carried on for a short time the capture of morses: the teeth of these were regarded as nearly equal in quality and value to ivory, and consequently afforded a lucrative trade; oil was also obtained from these animals. Lead ore is said to have been discovered in this island, of which thirty tons were brought to England in 1606. The Russian Company, however, soon gave up the morse fishery for that of whales. They also carried on a considerable trade with Kola, a town in Russian Lapland, for fish oil and salmon: of the latter they sometimes brought to England 10,000 at one time. But in this trade the Dutch likewise interfered.
The fishery for whales near Spitzbergen was first undertaken by the company in 1597. In 1613, they obtained from King James an exclusive charter for this fishery; and under this, fitting out armed ships, they expelled fifteen sail of French, Dutch, and Biscayners, besides some private English ships. But the Dutch persevered, so that next year, while the Russian Company had only thirteen ships at the whale fishery, the former had eighteen. The success of their whale fishery seems to have led to the neglect of their Russian trade, for, in 1615, only two vessels were employed in it, instead of seventeen great ships formerly employed. From this period, the commerce carried on between Russia and England, by the Russian Company, seems gradually to have declined.
The commerce between England and the other parts of Europe, during the sixteenth and seventeenth centuries, presents little that calls for notice; as the manufactures and capital of England encreased, it gradually encreased, and was transferred from foreign to English vessels. The exports consisted principally of woollen goods, prepared skins, earthen-ware, and metals. The imports of linens, silks, paper, wines, brandy, fruits, dye-stuffs, and drugs. The woollen cloths of England were indeed the staple export to all parts of England during the whole of the sixteenth and seventeenth centuries: as our cotton, earthen-ware, and iron manufactures sprung up and encreased, they supplied other articles of export;—our imports, at first confined to a few articles, afterwards encreased in number and value, in proportion as our encreased industry, capital, and skill, enlarged our produce and manufactures, and thus enabled us to purchase and consume more. A very remarkable instance of the effect of skill, capital, and industry, is mentioned by Mr. Lewis, a merchant, who published a work entitled, The Merchant's Map of Commerce, in 1641. "The town of Manchester," he says, "buys the linen yarn of the Irish in great quantity, and, weaving it, returns the same again, in linen, into Ireland to sell. Neither doth her industry rest here, for they buy cotton wool in London, that comes first from Cyprus and Smyrna, and work the same into fustians, vermilions, dimities, &c., which they return to London, where they are sold, and from thence not seldom are sent into such foreign parts where the first materials may be more easily had for that manufacture." How similar are these two instances to that which has occurred in our own days, when the cotton-wool, brought from the East Indies, has been returned thither after having been manufactured, and sold there cheaper than the native manufactures.
But though there are no particulars relative to the commerce between England and Europe, which call for our notice, as exhibiting any thing beyond the gradual extension of commercial intercourse already established; yet in the sixteenth and seventeenth centuries, there were other commercial intercourses into which England entered, that deserve attention. These may be classed under three heads: the trade to Africa, to America, and India.
I. The trade to Africa.—The first notice of any trade between England and Africa occurs in the year 1526, when some merchants of Bristol, which, at this period, was undoubtedly one of our most enterprising cities, traded by means of Spanish ships to the Canaries. Their exports were cloth, soap, for the manufacture of which, even at this early period, Bristol was celebrated, and some other articles. They imported drugs for dyeing, sugar, and kid skins. This branch of commerce answering, the Bristol merchants sent their factors thither from Spain. The coast of Africa was, at this period, monopolized by the Portuguese. In 1530, however, an English ship made a voyage to Guinea for elephants' teeth: the voyage was repeated; and in 1536, above one hundred pounds weight of gold dust, besides elephants' teeth, was imported in one ship. A few years afterwards, a trade was opened with the Mediterranean coast of Africa, three ships sailing from Bristol to Barbary with linens, woollen cloth, coral, amber, and jet; and bringing back sugar, dates, almonds, and molasses. The voyages to Guinea from the ports of the south and southwest of England, particularly Portsmouth, Plymouth, and Bristol, were frequently repeated: the returns were uniformly gold dust and elephants' teeth. But it does not appear that other ports followed the example of these, that these sent many ships, or that the commerce became very regular and lucrative, till the west coast of Africa was resorted to for slaves.
This infamous trade was first entered upon by the English in the year 1562. Mr. John Hawkins, with several other merchants, having learnt that negroes were a good commodity in Hispaniola, fitted out three ships, the largest 120, the smallest forty tons, for the coast of Guinea. Here they bought slaves, which they sold in Hispaniola for hides, sugar, ginger, and pearls. The other branches of the African trade continued to flourish. In 1577, English merchants were settled in Morocco; Spanish, Portuguese, and French merchants had been settled there before. In this year, Elizabeth, always attentive to whatever would benefit commerce, sent an ambassador to the Emperor of Morocco, who obtained some commercial privileges for the English. In 1588, the first voyage to Benin was made from London, by a ship and a pinnace: in 1590, a second voyage was made from the same port with the same vessels. Their exports were linen, woollen cloths, iron manufactures, bracelets of copper, glass beads, coral, hawks' bells, horses' tails, hats, &c. They imported Guinea pepper, elephants' teeth, palm oil, cotton cloth, and cloth made of the bark of trees.
An African Company had been formed in Elizabeth's reign; but neither this, nor two others succeeded; their ruin was occasioned by war, misconduct, and the interference of what were called interlopers. In 1672, a fourth company was established, whose efforts at first seem to have been great and successful. They bought the forts the former companies had erected on the west coast: instead of making up their assortments of goods for export in Holland, as the former companies had been obliged to do, they introduced into England the making of sundry kinds of woollen goods not previously manufactured. They imported large quantities of gold dust, out of which 50,000 guineas were first coined in one year, 1673. Their other imports were red wood for dyes, elephants' teeth, wax, honey, &c. The value of the English goods exported to them averaged annually 70,000l. This company was broken up at the Revolution.
II. Though the Portuguese and Spaniards were very jealous of the interference of any nation with their East India commerce; yet they were comparatively easy and relaxed with regard to their American possessions. Accordingly, we find that, in 1530, there was some little trade between England and Brazil: this is the first notice we can trace of any commercial intercourse between this country and the New World. The first voyage was from Plymouth: in 1540 and 1542 the merchants of Southampton and London also traded to Brazil. We are not informed what were the goods imported; but most probably they were Brazil wood, sugar, and cotton. The trade continued till 1580, when Spain, getting possession of Portugal, put a stop to it.
The next notice of any trading voyage to America occurs in 1593, when some English ships sailed to the entrance of the St. Lawrence for morse and whale fishing. This is the first mention of the latter fishery, or of whale fins, or whale bones by the English. They could not find any whales; but on an island they met with 800 whale fins, the remains of a cargo of a Biscay ship which had been wrecked here.
In 1602, the English had suspended all intercourse with America for sixteen years, in consequence of the unsuccessful attempts of Raleigh. But, at this time, the intercourse was renewed: a ship sailed to Virginia, the name then given to the greater part of the east coast of North America; and a traffic was carried on with the Indians for peltry, sassafras, cedar wood, &c. Captain Gosnol, who commanded this vessel, was a man of considerable skill in his profession, and he is said to have been the first Englishman who sailed directly to North America, and not, as before, by the circuitous course of the West Indies and the Gulf of Florida. In the subsequent year there was some traffic carried on with the Indians of the continent, and some of the uncolonized West India islands.
Prior to the year 1606 several attempts had been made to colonize different parts of the new world by the English, but they all proved abortive. In this year, however, a permanent settlement was established near James River, within the Chesapeake. It is not our plan to detail all the particular settlements, or their progress to maturity; but merely to point out the beginnings of them, as evidence of our extending commerce, and to state such proofs as most strikingly display their improvement and the advantages the mother country derived from them. In conformity with this plan, we may mention that sugar plantations were first formed in Barbadoes in 1641: this, as Mr. Anderson, in his History of Commerce, justly observes, "greatly hastened the improvement of our other islands, which soon afterwards followed it in planting sugar to very great advantage. And, as it was impossible to manage the planting of that commodity by white people in so hot a climate, so neither could sufficient numbers of such be had at any rate. Necessity, therefore, and the example of Portugal gave birth to the negro slave trade to the coast of Guinea and it is almost needless to add, that such great numbers of slaves, and also the increase of white people in those islands, soon created a vast demand for all necessaries from England, and also a new and considerable trade to Madeira for wines to supply those islands." The immediate consequence of the spread of the sugar culture in our West India islands was, that the ports of London and Bristol became the great magazines for this commodity, and supplied all the north and middle parts of Europe; and the price of the Portuguese-Brazil sugars was reduced from 8l. to 2l. 10s. per cwt.
The rapid growth of the English colonies on the continent and in the islands of America, during the seventeenth century, is justly ascribed by Sir Josiah Child, to the emigration thither, occasioned by the persecution of the Puritans by James I. and Charles I.; to the defeat of the Royalists and Scotch by Cromwell; and, lastly, to the Restoration, and the consequent disbanding of the army, and fears of the partizans of Cromwell. It may be added, that most of the men who were driven to America from these causes, were admirably fitted to form new settlements, being of industrious habits, and accustomed to plain fare and hard work.
The American plantations, as they were called, increased so rapidly in commerce that, according to the last author referred to, they did, even in the year 1670, employ nearly two-thirds of all our English shipping, "and therefore gave constant sustenance, it may be, to 200,000 persons here at home." At this period New England seems to have directed its chief attention and industry to the cod and mackerel fisheries, which had increased their ships and seamen so much as to excite the jealousy of Sir Josiah Child, who, however, admits that what that colony took from England amounted to ten times more than what England took from it. The Newfoundland fishery, he says, had declined from 250 ships in 1605, to eighty in 1670: this he ascribes to the practice of eating fish alone on fast days, not being so strictly kept by the Catholics as formerly. From Carolina, during the seventeenth century, England obtained vast quantities of naval stores, staves, lumber, hemp, flax, and Indian corn. About the end of this century, or at the very commencement of the next, the culture of rice was introduced by the accident of a vessel from Madagascar happening to put into Carolina, which had a little rice left; this the captain gave to a gentleman, who sowed it.
The colony of Virginia seems to have flourished at an earlier period than any of the other English colonies. In the year 1618, considerable quantities of tobacco were raised there; and it appears, by proclamations of James I. and Charles I., that no tobacco was allowed to be imported into England, but what came from Virginia or the Bermudas.
The colony of Pennsylvania was not settled by Pen till the year 1680: he found there, however, many English families, and a considerable number of Dutch and Swedes. The wise regulations of Pen soon drew to him industrious settlers; but the commerce in which they engaged did not become so considerable as to demand our notice.
III. The commercial intercourse of England with India, which has now grown to such extent and importance, and from which has sprung the anomaly of merchant-sovereigns over one of the richest and most populous districts of the globe, began in the reign of Elizabeth. The English Levant Company, in their attempts to extend their trade with the East, seem first to have reached Hindostan, in 1584, with English merchandize. About the same time the queen granted introductory letters to some adventurers to the king of Cambaya; these men travelled through Bengal to Pegu and Malacca, but do not seem to have reached China. They, however, obtained much useful information respecting the best mode of conducting the trade to the East.
The first English ship sailed to the East Indies in the year 1591; but the voyage was rather a warlike than a commercial one, the object being to attack the Portuguese; and even in this respect it was very unfortunate. A similar enterprize, undertaken in 1593, seems, by its success, to have contributed very materially to the commercial intercourse between England and India; for a fleet of the queen's ships and some merchant ships having captured a very large East India carrack belonging to the Spaniards or Portuguese, brought her into Dartmouth: if she excited astonishment at her size, being of the burthen of 1600 tons, with 700 men, and 36 brass cannon, she in an equal degree stimulated and enlarged the commercial desires and hopes of the English by her cargo. This consisted of the richest spices, calicoes, silks, gold, pearls, drugs, China ware, ebony wood, &c., and was valued at 150,000l.
The increasing commercial spirit of the nation, which led it to look forward to a regular intercourse with India, was gratified in the first year of the seventeenth century, when the queen granted the first charter to an East India Company. She seems to have been directly led to grant this in consequence of the complaints among her subjects of the scarcity and high price of pepper; this was occasioned by the monopoly of it being in the power of the Turkey merchants and the Dutch, and from the circumstance that by our war with Portugal, we could not procure any from Lisbon. The immediate and principal object of this Company, therefore, was to obtain pepper and other spices; accordingly their ships, on their first voyage, sailed to Bantam, where they took in pepper, to the Banda isles; where they took in nutmeg and mace, and to Amboyna, where they took in cloves. On this expedition the English established a factory at Bantam. In 1610, this Company having obtained a new charter from James I., built the largest merchant ship that had ever been built in England, of the burthen of 1100 tons, which with three others they sent to India. In 1612 the English factory of Surat was established with the permission of the Great Mogul; this was soon regarded as their chief station on the west coast of India. Their first factory on the coast of Coromandel, which they formed a few years afterwards, was at Masulipatam: their great object in establishing this was to obtain more readily the cloths of Coromandel, which they found to be the most advantageous article to exchange for pepper and other spices. For at this time their trade with the East seems to have been almost entirely confined to these latter commodities. In 1613, the first English ship reached a part of the Japan territories, and a factory was established, through which trade was carried on with the Japanese, till the Dutch persuaded the emperor to expel all Europeans but themselves.
The year 1614 forms an important era in the history of our commercial intercourse with India; for Sir Thomas Roe, whom James sent ambassador to the Mogul, and who remained several years at his court, obtained from him important privileges for the East India Company. At this time, the following European commodities were chiefly in repute in India; knives of all kinds, toys, especially those of the figures of beasts, rich velvets and satins, fowling pieces, polished ambers and beads, saddles with rich furniture, swords with fine hilts inlaid, hats, pictures, Spanish wines, cloth of gold and silver, French shaggs, fine Norwich stuffs, light armour, emeralds, and other precious stones set in enamel, fine arras hangings, large looking glasses, bows and arrows, figures in brass and stone, fine cabinets, embroidered purses, needlework, French tweezer cases, perfumed gloves, belts, girdles, bone lace, dogs, plumes of feathers, comb cases richly set, prints of kings, cases of strong waters, drinking and perspective glasses, fine basons and ewers, &c. &c. In consequence of the privileges granted the East India Company by the Mogul, and by the Zamorine of Calicut, their factories were now numerous, and spread over a large extent of coast.
If we may trust the controversial pamphlets on the East India Company which were published in 1615, it appears that up to this year they had employed only twenty-four ships; four of which had been lost; the largest was 1293 tons, and the smallest 150. Their principal imports were still pepper, cloves, mace, and nutmegs, of which 615,000 lbs. were consumed in England, and the value of 218,000l. exported: the saving in the home consumption of these articles was estimated at 70,000l. The other imports were indigo, calicoes, China silks, benzoin, aloes, &c. Porcelain was first imported this year from Bantam. The exports consisted of bays, kersies, and broad cloths, dyed and dressed, to the value of 14,000l.; lead, iron, and foreign merchandize, to the value of 10,000l.; and coin and bullion, to the value of 12,000l.; the outfit, provisions, &c. of their ships cost 64,000l.
The Dutch, who were very jealous of the successful interference of the English in their eastern trade, attacked them in every part of India; and though a treaty was concluded between the English and the Dutch East India Company, yet the treachery and cruelty of the Dutch, especially at Amboyna, and the civil wars into which England was plunged, so injured the affairs of the English East India Company, that at the death of Charles I. its trade was almost annihilated. One beneficial consequence, however, resulted from the hostility of the Dutch; the English, driven from their old factories, established new ones at Madras and in Bengal.
Before, however, this decline of the English trade to India, we have some curious and interesting documents relating to it particularly, and to the effects produced on the cost of East Indian commodities in Europe generally, by the discovery of the Cape of Good Hope. These are supplied by Mr. Munn, in a treatise he published in 1621; in favour of the East India trade. We have already given the substance of his remarks so far as they relate to the lowering the price of Indian commodities, but as his work is more particularly applicable to, and illustrative of the state of English commerce with India, at this time, we shall here enter into some of his details.
According to them, there were six million pounds of pepper annually consumed in Europe, which used to cost, when purchased at Aleppo, brought over land thither from India, at the rate of two shillings per lb.; whereas it now cost, purchased in India, only two-pence halfpenny per lb.: the consumption of cloves was 450,000 lbs.; cost at Aleppo four shillings and nine-pence per lb., in India nine-pence: the consumption of mace was 150,000 lbs.; cost at Aleppo the same per lb. as the cloves; in India it was bought at eight-pence per lb.: the consumption of nutmegs was 400,000 lbs.; the price at Aleppo, two shillings and four-pence per lb.; in India only four-pence; the consumption of indigo was 350,000 lbs.; the price at Aleppo four shillings and four-pence per lb.; in India one and two-pence, and the consumption of raw silk was one million lbs., the price of which at Aleppo was twelve shillings per lb., and in India eight shillings. It will be remarked that this last article was purchased in India, at a rate not nearly so much below its Aleppo price as any of the other articles; pepper, on the other hand, was more reduced in price than any of the other articles. The total cost of all the articles, when purchased at Aleppo, was 1,465,000 l.; when purchased in India, 511,458 l.; the price in the latter market, therefore, was little more than one-third of their Aleppo price. As, however, the voyage from India is longer than that from Aleppo, it added, according to Mr. Munn's calculation, one-sixth to the cost of the articles beyond that of the Turkey voyage. Even after making this addition, Mr. Munn comes to the conclusion we have formerly stated, "that the said wares by the Cape of Good Hope cost us but about half the price which they will cost from Turkey."
Mr. Munn also gives the annual importation of the principal Indian goods into England, by the East India Company, and the price each article sold for in England; according to this table, the quantity of pepper was 250,000 lbs., which, bought in India for twopence halfpenny, sold in England for one shilling and eightpence:—150,000 lbs. of cloves, which bought in India for ninepence, sold in England for six shillings:—150,000 lbs. of nutmegs, bought for four-pence, sold for two shillings and sixpence:—50,000 lbs. of mace, bought for eightpence, sold for six shillings:—200,000 lbs. of indigo, bought for one shilling and twopence, sold for five shillings:—107,140 lbs. of China raw silk, bought for seven shillings, sold for twenty shillings:—and 50,000 pieces of calico, bought for seven shillings a piece, sold for twenty-six shillings.
In a third table he gives the annual consumption of the following India goods, and the lowest prices at which they used to be sold, when procured from Turkey or Lisbon, before England traded directly to India. There was consumed of pepper, 400,000 lbs., which used to be sold at three shillings and sixpence per lb.; of cloves, 40,000, at eight shillings; of mace, 20,000, at nine shillings; of nutmegs, 160,000, at four shillings and sixpence; and of indigo, 150,000, at seven shillings. The result is, that when England paid the lowest ancient prices, it cost her 183,500l. for these commodities; whereas, at the common modern prices, it costs her only 108,333l. The actual saving therefore to the people of England, was not near so great as might have been expected, or as it ought to have been, from a comparison of the prices at Aleppo and in India.
There are some other particulars in Mr. Munn's Treatise relating to the European Trade to the East at this period, which we shall select. Speaking of the exportation of bullion to India, he says that the Turks sent annually 500,000l. merely for Persian raw silk; and 600,000l. more for calicoes, drugs, sugar, rice, &c.: their maritime commerce was carried on from Mocha; their inland trade from Aleppo and Constantinople. They exported very little merchandize to Persia or India. Marseilles supplied Turkey with a considerable part of the bullion and money which the latter used in her trade with the East,—sending annually to Aleppo and Alexandria, at least 500,000l. and little or no merchandize. Venice sent about 400,000l. and a great value in wares besides. Messina about 25,000l., and the low countries about 50,000l., besides great quantities of gold and dollars from Germany, Poland, Hungary, &c. With these sums were purchased either native Turkish produce and manufactures, or such goods as Turkey obtained from Persia and other parts of the East: the principal were camblets, grograms, raw silk, cotton wool and yarn, galls, flax, hemp, rice, hides, sheeps' wool, wax, corn, &c. England, according to Mr. Munn, did not employ much bullion, either in her Turkey or her India trade; in the former she exported vast quantities of broad cloth, tin, &c. enough to purchase nearly all the wares she wanted in Turkey, besides three hundred great bales of Persian raw silk annually. In the course of nineteen years, viz. from their establishment in 1601 to 1620, the East India Company had exported, in woollen cloths, tin, lead, and other English and foreign wares, at an average of 15,383l. per annum, and in the whole, 292,286l. During the same period they had exported 548,090l. in Spanish silver. The East India Company employed in 1621, according to this author, 10,000 tons of shipping, 2500 mariners, 500 ship carpenters, and 120 factors. The principal places to which, at this period, we re-exported Indian goods, were Turkey, Genoa, Marseilles, the Netherlands, &c.; the re-exportations were calculated to employ 2000 more tons of shipping, and 500 more mariners.
From a proclamation issued in 1631, against clandestine trade to and from India, we learn the different articles which might be legally exported and imported: the first were the following: perpalicanos and drapery, pewter, saffron, woollen stockings, silk stockings and garters, ribband, roses edged with silver lace, beaver hats with gold and silver bands, felt hats, strong waters, knives, Spanish leather shoes, iron, and looking glasses. There might be imported, long pepper, white pepper, white powder sugar, preserved nutmegs and ginger preserved, merabolans, bezoar stones, drugs of all sorts, agate heads, blood stones, musk, aloes socratrina, ambergris, rich carpets of Persia and of Cambaya, quilts of satin taffety, painted calicoes, Benjamin, damasks, satins and taffeties of China, quilts of China embroidered with silk, galls, sugar candy, China dishes, and porcelain of all sorts.
Though several articles of Chinese manufacture are specified in the proclamation, yet we have no notice of any direct trade to China till nearly fifty years after this time, viz. in the year 1680. In this year the East India Company sent out eleven ships, including two to China and the Moluccas; their general burden was between 500 and 600 tons: in these ships there was a stock of nearly 500,000l. Besides the articles imported from India enumerated in the proclamation of 1631, there now appear cowries, saltpetre, muslins, diamonds, &c.
In 1689 the East India Company published a state of their trade, from which it appeared that in the last seven years they had built sixteen ships from 900 to 1300 tons each,—that they had coming from India eleven ships and four permission ships, the value of their cargoes being above 360,000l.: that they had on their outward voyage to Coast and Bay, seven ships and six permission ships, their cargoes valued at 570,000l.: that they had seven ships for China and the South Seas, whose cargoes amounted to 100,000l. That they had goods in India unsold, to the amount of 700,000l. About this period, Sir John Child, being what would now be called governor general of India, and his brother, Sir Jonah, leading member of the Court of Committees, the policy was introduced through their means, on which the sovereign power, as well as the immense empire of the East India Company was founded; this policy consisted of the enlargement of the authority of the Company over British subjects in India, and in attaining political strength and dominion, by retaliating by force of arms, on those Indian princes who oppressed their settlements.
In the year 1698, in consequence of complaints against the East India Company, and their inability to make any dividend, they thought it necessary to give in a statement of their property in India. In this they asserted that they had acquired, solely at their own expence, revenues at Fort St. George, Fort St. David, and Bombay, as well as in Persia, and elsewhere, to the amount of 44,000l. per annum, arising from customs and licenses, besides a large extent of land in these places; they had also erected forts and settlements in Sumatra, and on the coast of Malabar, which were absolutely necessary to carry on the pepper trade; they had a strongfort in Bengal, and many factories, settlements, &c. in other places. The result of the complaints against the Company was, that a new company was established this year; the two companies, however, united in the beginning of the eighteenth century.
We shall conclude our account of the state of English commerce during the sixteenth and seventeenth centuries, with some more general and miscellaneous topics.
I. Exports. In the year 1534, the total value of our exports did not exceed 900,000l. of the present value of our money: the balance of trade was estimated at 700,000l.: this arose principally from the very great exportation of woollen goods, tin, leather, &c., on which an export duty was laid, bringing in 246,000l.; whereas, the duty on imports did not produce more than 1700l. In the year 1612, according to Missenden, in his Circle of Commerce, the exports to all the world amounted to 2,090,640l., and the imports to 2,141,151l.; on the latter, however, the custom duties are charged; the custom duties on the exports were 86,794l.; the impost paid outwards on woollen goods, tin, lead, pewter, &c. 10,000l.; and the merchants' gains, freight, and other charges, to 300,000l.:—if these be added to the value of the exports, the total amount will be 2,487,435l,— from which the imports, including custom duty on them, being deducted, leaves 346,283l.,—which Missenden regards as the balance gained that year by the nation. The principal articles of export have been enumerated: the principal articles of import were silks, Venice gold and silver stuffs, Spanish wines, linen, &c. At this time, London paid nearly three times as much for custom duties as all the rest of England together. In the year 1662, according to D'Avenant, the inspector general of the customs, our imports amounted to 4,016,019l., and our exports only to 2,022,812l.; the balance against the nation being nearly two millions. In the last year of the seventeenth century, according to the same official authority, there was exported to England from all parts, 6,788,166l.: of this sum, our woollen manufactures were to the value of 2,932,292l.; so that there was an increase of our exports since 1662, of 4,765,534l. The yearly average of all the merchandize imported from, and exported to the north of Europe, from Michaelmas, 1697, to Christmas, 1701, is exhibited in the following table:
Annual Countries. Imported from. Exported to. Loss
Denmark and Sweden 76,215_l_ 39,543_l. 36,672_l_. East Country 181,296 149,893 31,403 Russia 112,252 58,884 53,568 Sweden 212,094 57,555 154,539 ————- Total annual average loss 275,982_l_.
II. Ships. In the year 1530, the ship which first sailed on a trading voyage to Guinea, and thence to the Brazils, was regarded as remarkably large; her burden amounted to 250 tons. And in Wheeler's Treatise of Commerce, published in 1601, we are informed, that about 60 years before he wrote (which would be about 1541), there were not above four ships (besides those of the royal navy) that were above 120 tons each, in the river Thames; and we learn from Monson, in his Naval Tracts, that about 20 years later, most of our ships of burden were purchased from the east countrymen, or inhabitants of the south shores of the Baltic, who likewise carried on the greatest trade of our merchants in their own vessels. He adds, to bid adieu to that trade and those ships, the Jesus of Lubec. a vessel then esteemed of great burden and strength, was the last ship bought by the queen. In 1582, there were 135 merchant vessels in England, many of them of 500 tons each: and in the beginning of King James's reign, there were 400, but these were not so large, not above four of these being of 400 tons. In 1615, it appears, that the East India Company, from the beginning of their charter, had employed only 24 ships, four of which had been lost. The largest was 1293 tons; one 1100, one 1060, one 900, one 800, and the remainder from 600 to 150. In the same year, 20 ships sailed to Naples, Genoa, Leghorn, and other parts of the Mediterranean, chiefly laden with herrings; and 30 from Ireland, to the same ports, laden with pipe staves: to Portugal and Amsterdam, 20 ships for wines, sugar, fruit, and West India drugs: to Bourdeaux, 60 ships for wines: to Hamburgh and Middleburgh, 35 ships: to Dantzic, Koningsberg, 30 ships: to Norway 5;—while the Dutch sent above 40 large ships. The Newcastle coal trade employed 400 sail;—200 for London, and 200 for the rest of England. It appears, that at this time many foreign ships resorted to Newcastle for coals: whole fleets of 50 sail together from France, besides many from Bremen, Holland, &c. The Greenland fishery employed 14 ships.
The following calculation of the shipping of Europe in 1690, is given by Sir William Petty. England, 500,000 tons; the United Provinces, 900,000; France, 100,000; Hamburgh, Denmark, Sweden, Dantzic, 250,000; Spain, Portugal, Italy, 250,000: total 2,000,000. But that this calculation is exceeding loose, so far as regards England at least, is evident from the returns made to circular letters of the commissioners of customs: according to these returns, there belonged to all the ports of England, in January 1701-2., 3281 vessels, measuring 261,222 tons, and carrying 27,196 men, and 5660 guns. As we wish to be minute and enter into detail, while our commerce and shipping were yet in their infancy, in order to mark more decidedly its progress, we shall subjoin the particulars of this return.
Ports. Vessels. Tons. Men.
London 560 84,882 10,065 Bristol 165 17,338 2,359 Yarmouth 143 9,914 668 Exeter 121 7,107 978 Hull 115 7,564 187 Whitby 110 8,292 571 Liverpool 102 8,619 1,101 Scarborough 100 6,860 606
None of the other ports had 100 vessels: Newcastle had sixty-three, measuring 11,000 tons; and Ipswich thirty-nine, measuring 11,170; but there certainly is some mistake in these two instances, either in the number of the ships, or the tonnage. The small number of men employed at Hull arose from eighty of their ships being at that time laid up.
III. During the sixteenth and seventeenth centuries, the great rivals of the English in their commerce were the Dutch: they had preceded the English to most countries; and, even where the latter had preceded them, they soon insinuated themselves and became formidable rivals: this was the case particularly with respect to the trade to Archangel. Some curious and interesting particulars of this rivalry are given by Sir Walter Raleigh, in his Observations concerning the Trade and Commerce of England with the Dutch and other foreign Nations, which he had laid before King James. In this work he maintains that the Dutch have the advantage over the English by reason of the privileges they gave to foreigners, by making their country the storehouse of all foreign commodities; by the lowness of their customs; by the structure of their ships, which hold more, and require fewer hands than the English; and by their fishery. He contends that England is better situated for a general storehouse for the rest of Europe than Holland: yet no sooner does a dearth of corn, wine, fish, &c. happen in England, than forthwith the Hollanders, Embedners, or Humburghers, load 50 or 100 ships, and bring their articles to England. Amsterdam, he observes, is never without 700,000 quarters of corn, none of it the growth of Holland; and a dearth of only one year in any other part of Europe enriches Holland for seven years. In the course of a year and a half, during a scarcity in England, there was carried away from the ports of Southampton, Bristol, and Exeter alone, nearly 200,000l.: and if London and the rest of England were included, there must have been 2,000,000 more. The Dutch, he adds, have a regular trade to England with 500 or 600 vessels annually, whereas we trade, not with fifty to their country. After entering into details respecting the Dutch fishery, by means of which, he says, they sell herrings annually to the value of upwards of one million and a half sterling, whereas England scarcely any, he reverts to the other branches of Dutch commerce, as compared with ours. The great stores of wines and salt, brought from France and Spain, are in the Low Countries: they send nearly 1,000 ships yearly with these commodities into the east countries alone; whereas we send not one ship. The native country of timber for ships, &c. is within the Baltic; but the storehouse for it is in Holland; they have 500 or 600 large ships employed in exporting it to England and other parts: we not one. The Dutch even interfere with our own commodities; for our wool and woollen cloth, which goes out rough, undressed, and undyed, they manufacture and serve themselves and other nations with it. We send into the east countries yearly but 100 ships, and our trade chiefly depends upon three towns, Elbing, Koningsberg, and Dantzic; but the Low Countries send thither about 3,000 ships: they send into France, Spain, Portugal, and Italy, about 2,000 ships yearly with those east country commodities, and we, none in that course. They trade into all cities and port towns of France, and we chiefly to five or six.
The Low Countries have as many ships and vessels as eleven kingdoms of Christendom have; let England be one. For seventy years together, we had a great trade to Russia (Narva), and even about fourteen years ago, we sent stores of goodly ships thither; but three years past we sent out four thither, and last year but two or three ships; whereas the Hollanders are now increased to about thirty or forty ships, each as large as two of ours, chiefly laden with English cloth, herrings, taken in our seas, English lead, and pewter made of our tin. He adds, that a great loss is suffered by the kingdom from the undressed and undyed cloths being sent out of the kingdom, to the amount of 80,000 pieces annually; and that there had been annually exported, during the last fifty-three years, in baizes, northern and Devonshire kersies, all white, about 50,000 cloths, counting three kersies to one cloth.
Although there is undoubtedly much exaggeration in the comparative statement of the Dutch and English commerce and shipping in the details, yet it is a curious and interesting document, as exhibiting a general view of them. Indeed, through the whole of the seventeenth century, the most celebrated and best informed writers on the commerce of England dwell strongly on the superior trade of the Dutch, and on their being able, by the superior advantages they enjoyed from greater capital, industry, and perseverance, aided by the greater encouragement they gave to foreigners as well as their own people, to supply the greatest part of Europe with all their wants, though their own country was small and unfertile. A similar comparative statement to that of Raleigh is given by Child in 1655; he asserts that in the preceding year the Dutch had twenty-two sail of great ships in the Russia trade,—England but one: that in the Greenland whale fishery, Holland and Hamburgh had annually 400 or 500 sail,—and England but one last year: that the Dutch have a great trade for salt to France and Portugal, with which they salt fish caught on our coasts; that in the Baltic trade, the English have fallen off, and the Dutch increased tenfold. England has no share in the trade to China and Japan: the Dutch a great trade to both countries. A great part of the plate trade from Cadiz has passed from England to Holland. They have even bereaved us of the trade to Scotland and Ireland. He concludes with pointing out some advantages England possesses over Holland: In the Turkey, Italian, Spanish, and Portuguese trades, we have the natural advantage of our wool:—our provisions and fuel, in country places, are cheaper than with the Dutch;—our native commodities of lead and tin are great advantages:—of these, he says, as well as of our manufactures, we ship off one-third more than we did twenty years ago; and he adds, that we have now more than double the number of merchants and shipping that we had twenty years ago. He mentions a circumstance, which seems to indicate a retrograde motion of commerce, viz., that when he wrote most payments were in ready money; whereas, formerly, there were credit payments at three, six, nine, twelve, and even eighteen months. From another part of his work, it appears that the tax-money was brought up in waggons from the country.
The gradual advancement of a nation in knowledge and civilization, which is in part the result of commerce, is also in part the cause of it. But besides this advancement, in which England participated with the rest of Europe, during the sixteenth and seventeenth centuries, there were other circumstances peculiar to this country, some of which were favourable, and others unfavourable to the increase of its commerce.
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 14,000l. a year, towards its close were fanned for 50,000l.;—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.
The causes and circumstances which were unfavourable to it during the same period are much fewer in number; and though some of them were powerful, yet, even these, for the most part, when they ceased to operate, gave birth to a reaction favourable to commerce. The more general causes may be sought for in the erroneous notions entertained respecting commerce, in consequence of which monopolies were granted, especially in the reign of James I.; and laws were made to regulate what would have gone on best, if it had been left to itself. The civil wars, and the emigration occasioned by them, and the religious persecutions in the time of Mary, Elizabeth, and Charles, may be regarded as the most remarkable particular causes and circumstances, which were injurious to commerce.
We must again lay down the position, that in what respects the improvement of a country in industry and wealth, whether agricultural manufacturing, or commercial, the same circumstances may often be viewed in the light both of effect and cause. This position will be clearly illustrated by a very common and plain case. The trade in a certain district improves, and of course requires more easy and expeditious communication among different parts of this district: the roads are consequently made better, and the waggons, &c. are built on a better construction; these are the effects of an improved trade: but it is plain that as by the communication being thus rendered quicker, the commodities interchanged can be sold cheaper, a greater quantity of them will be sold; and thus better roads, which in the first instance proceeded from an improvement in trade, will, when made, improve the trade still more.
We have introduced these observations as preparatory to our notice of the establishment of the Bank of England. This undoubtedly was the effect of our increased commercial habits, but it was as undoubtedly the cause of those habits becoming stronger and more general: it supposed the pre-existence of a certain degree of commercial confidence and credit, but it increased these in a much greater ratio than they existed before: and if England owes its very superior wealth to any other causes besides its free government, its superior industry, and improvements in machinery, those causes must be sought for in the very extensive diffusion of commercial confidence and credit. The funding system, which took place about the same, time that the Bank of England was established, may be regarded as another powerful cause of the increase of our commerce: we do not mean to contend that the national debt is a national blessing, but it is certain that the necessity of paying the interest of that debt produced exertions of industry, and improvements in manufactures, which would not otherwise, have been called forth; while, on the other hand, the funds absorbed all the superfluous capital, which, otherwise, as in Holland, must have had a bad effect on commerce, either by reducing its profits very low, or by being transferred to other countries; and the interest, which so many individuals felt in the stability of the funds, induced them most steadily and strongly to support government.
The commerce of Scotland and Ireland during the sixteenth and seventeenth centuries, supplies us with very few materials. In the year 1544, Scotland must have had no inconsiderable foreign trade, as in the war which took place at this time between that country and England, twenty-eight of the principal ships of Scotland, laden with all kinds of rich merchandize, were captured by the English, on their voyage from France, Flanders, Denmark, &c.; and in the same year, when the English took Leith, they found more riches in it than they had reason to expect. While Scotland and England were at peace, however, the former was principally supplied through the latter with the commodities which Antwerp, during the sixteenth century, dispersed over all Europe. The exports of Scotland to Antwerp, &c. were indeed direct, and consisted principally, as we have already remarked from Guicciardini, of peltry, leather, wool, indifferent cloth, and pearls.
The earliest account which occurs of the Scotch carrying on commerce to any port out of Europe, is in the year 1589, when three or four Scotch ships were found at the Azores by the earl of Cumberland. In the year 1598, it appears, from a letter of king James to Queen Elizabeth, that some Scotch merchants traded to the Canaries. There is evidence that the Scotch had some commerce in the Mediterranean in the beginning of the seventeenth century; for in the "Cabala," under the year 1624, the confiscation of three Scotch ships at Malaga is noticed, for importing Dutch commodities. The principal articles of export from Scotland to foreign countries consisted of coarse woollen stuffs and stockings, linen goods, peltry, leather, wool, pearls, &c. The principal imports were wine and fruits from France, wine from Spain and Portugal, the finer woollen goods from England, timber, iron, &c. from the Baltic, and sugars, spices, silks, &c. from Antwerp, Portugal, &c.
The following statement, with which we shall conclude our account of Scotch commerce, is interesting, as exhibiting a view of the commercial intercourse by sea between England and Scotland, from the commencement of the inspector general's accounts in 1697, to the Union in 1707.
England received from Scotland Scotland received from England Merchandize to the value of merchandize to the value of
1697. L91,302 L73,203 1698. 124,835 58,043 1699. 86,309 66,303 1700. 130,087 85,194 1701. 73,988 56,802 1702. 71,428 58,688 1703. 76,448 57,338 1704. 54,379 87,536 1705. 57,902 50,035 1706. 50,309 60,313 1707. 6,733 17,779
The earliest notices of Irish trade, to which we have already adverted, particularly mention linen and woollen cloth, as two of the most considerable articles of export from that country. Hides, wool, fish of different kinds, particularly salmon, and the skins of martins, otters, rabbits, sheep, kids, &c. are also specified, as forming part of her early export. From Antwerp in the middle of the sixteenth century she received spices, sugar, silks, madder, camblets, &c. Pipe staves were a considerable article of export in the beginning of the seventeenth century; they were principally sent to the Mediterranean. In 1627 Charles issued a proclamation respecting Ireland, from which we learn that the principal foreign trade of Ireland was to Spain and Portugal, and consisted in fish, butter, skins, wool, rugs, blankets, wax, cattle, and horses; pipe staves, and corn; timber fit for ship-building, as well as pipe staves, seem at this period to have formed most extensive and valuable articles of export from Ireland. In the middle of this century, Irish linen yarn was used in considerable quantities in the Manchester manufactures, as we have already noticed. The importation into England of fat cattle from Ireland seems to have been considerable, and to have been regarded as so prejudicial to the pasture farmers of the former country, that in 1666 a law was passed laying a heavy duty on their importation. This statute proving ineffectual, another was passed in 1663, enacting the forfeiture of all great cattle, sheep, swine, and also beef, pork, or bacon, imported from Ireland. Sir W. Petty remarks, that before this law was passed, three-fourths of the trade of Ireland was with England, but not one-fourth of it since that time. Sir Jonah Child, in his Discourse on Trade, describes the state of Ireland as having been much improved by the soldiers of the Commonwealth settling there; through their own industry, and that which they infused into the natives, he adds, that Ireland was able to supply foreign markets, as well as our plantations in America, with beef, pork, hides, tallow, bread, beer, wood, and corn, at a cheaper rate than England could afford to do. Though this country, as we have seen, exported linen goods at a very early period, yet this manufacture cannot be regarded as the staple one of Ireland, or as having contributed very much to her foreign commerce, till it flourished among the Scotch colonists in Ulster towards the middle of the seventeenth century. As soon as they entered on it with spirit, linen yarn was no longer exported to Manchester and other parts of England, but manufactured into cloth in Ireland, and in that state it formed the chief article of its commerce. The woollen manufactures of Ireland, which were always viewed with jealousy by England, and were checked in every possible manner, gradually gave way to the restraints laid on them, and to the rising and unchecked linen manufacture, and of course ceased to enter into the exports.
The commerce of Scotland during the sixteenth and seventeenth centuries was kept low, by ignorance and want of industry, by the disturbed state of the country, by disputes between the king and nobility, and, till the union of the crowns, by wars with England. The commerce of Ireland had still greater difficulties to struggle with; among which may be mentioned the ignorant oppression of the English government in every thing that related to its manufactures or trade.
The commerce of France, during the sixteenth century, presents few particulars worthy of notice; that, which was carried on between it and England, was principally confined to the exportation of wines, fruit, silk and linen, from France; and woollen goods, and tin and lead, from England. There seems to have been a great exchange between the woollens of England and the linens of Bretagne. The French, however, like all the other nations of Europe at this period, were ignorant of the principles, as well as destitute of the enterprize and capital essential to steady and lucrative commerce; and amply deserve the character given of them by Voltaire, that in the reign of Francis I., though possessed of harbours both on the ocean and Mediterranean, they were yet without a navy; and though immersed in luxury, they had only a few coarse manufactures. The Jews, Genoese, Venetians, Portuguese, Flemings, Dutch, and English, traded successively for them. At the very close of this century we have a very summary account of the commerce of France by Giovani Bolero. France, says he, possesses four magnets, which attract the wealth of other countries;—corn, which is exported to Spain and Portugal;—wine, which is sent to Flanders, England, and the Baltic;—salt, made by the heat of the sun on the Mediterranean coast, and also on that of the ocean, as far north as Saintoigne; and hemp and cloth, of which and of cordage great quantities are exported to Lisbon and Seville:—the exportation of the articles of this fourth class, he adds, is incredibly great.
In the middle of the seventeenth century, the finer manufactures of woollen and silken goods having been carried to great perfection in France, her exports in these articles were greatly increased. In the political testament of Richelieu, we are informed that a considerable and lucrative trade in these articles was carried on with Turkey, Spain, Italy, &c., and that France had driven, in a great measure, out of those markets the serges of Milan, the velvets of Genoa, and the cloth of gold of Italy.
Early in the reign of Louis XIV., Colbert directed his attention to the improvement of manufactures and commerce; and though many of his plans were frustrated from the operation of causes over which he had no control, and principally because he went before the age in which he lived, yet there can be no doubt that to him France was indebted for the consolidation, extension, and firm footing of her commerce. Immediately before the revocation of the edict of Nantes, her commerce was at its greatest heighth, as the following estimates of that she carried on with England and Holland will prove. To the former country the exportation of manufactured silks of all sorts is said to have been to the value of 600,000l.;—of linen, sail-cloth, and canvass, about 700,000l.;—in beaver hats, watches, clocks, and glass, about 220,000l.;—in paper, about 90,000l.;—in iron ware, the manufacture of Auvergne, chiefly, about 40,000l.;—in shalloons, tammies, &c. from Picardy and Champagne, about 150,000l.;—in wines, about 200,000l.; and brandies, about 80,000l. The exports to Holland, shortly before the revocation of the edict of Nantes, in silks, velvets, linen, and paper, are estimated at 600,000l.; —in hats, about 200,000l.;—in glass, clocks, watches, and household furniture, about 160,000l.;—in small articles, such as fringes, gloves, &c., about 200,000l.;—in linen, canvass, and sail cloth, about 160,000l.; and in saffron, dye-wood, woollen yarn, &c., about 300,000l.
In the year 1700 a council of commerce was constituted in France, consisting of the principal ministers of state and finance, and of twelve of the principal merchants of the kingdom, chosen annually from Paris, Rouen, Bourdeaux, Lyons, Marseilles, Rochelle, Nantes, St. Maloe, Lisle, Bayonne, and Dunkirk.
From the first report of this board, we gain some information of the state of French commerce at this time; according to it, the French employed in their West India and Guinea trade only 100 vessels, whereas the English employed 500. The principal articles they drew from these islands were sugar, indigo, cotton, cocoa, ginger, &c. The exclusive trades formed in 1661, when France was little versed in commerce and navigation, are deprecated: the chief of them were, that granted to Marseilles for the sole trade to the Levant;—the East India Company;—the prohibiting foreign raw silk to be carried to Paris, Nismes, Tours, &c., till it had passed through Lyons;—the Canada and Guinea Companies, besides various farms or monopolies of certain merchandize in trade: the principal of these last was lead from England, with which, made into shot, the persons who had the monopoly supplied not only France, but, through France, Spain, Portugal, Switzerland, the Levant, and the French West Indies.
The report contains some information respecting the comparative commerce of France, and the other nations of Europe. The Spaniards, it is observed, though they possess within their own country wool, silk, oil, wine, &c., and are in no want of good ports, both on the ocean and Mediterranean, nevertheless neglect all these advantages. Hence it happens that the raw silk of Valencia, Murcia, and Grenada, is exported to France: the wool of Castile, Arragon, Navarre, and Leon, to England, Holland, France, and Italy; and these raw articles, when manufactured, are sent back to Spain, and exchanged for the gold and silver of the American mines. France also supplies Peru and Mexico, through Spain, receiving in return, cochineal, indigo, hides, &c., besides a balance of eighteen or twenty million of livres, and by the flotas, seven or eight million more. The report adds, on this head, that latterly the English and Dutch have interfered with some branches of this trade with Spain; and it also complains that the former nation carry on the Levant trade to much more advantage than the French, their woollen cloths being better and cheaper. The English also carry to the Levant, lead, pewter, copperas, and logwood, together with a great deal of pepper;—with these, and the money received on the coasts of Portugal, Spain and Italy, for the dry fish and sugar they sell there on their outward voyage, they purchase their homeward cargoes. This superiority of England over France in the Levant trade, is ascribed in the report to the monopoly enjoyed by Marseilles.
The report, in relation to the commerce of France with the northern nations of Europe, observes, that it appears from the custom books, that the Dutch had possession of almost the whole of it. The Dutch also are accused of having, in a great measure, made themselves masters of the inland trade of France. In order to secure to this latter country the direct trade with the north of Europe, certain plans are suggested in the report; all of which were objected to by the deputies from Nantes, principally, it would seem, on the ground, that the Dutch trade to the Baltic was so well settled, that it governed the prices of all the exports and imports there, and that the Dutch gave higher prices for French goods than could be obtained in the Baltic for them, while, on the other hand, they sold at Amsterdam Baltic produce cheaper than it could be bought in the Baltic. One objection to a direct trade between France and the Baltic affords a curious and instructive proof of the imperfect state of navigation at this time, that is, at the beginning of the eighteenth century. The deputy from Marseilles urged that the voyage from Dantzic, or even from Copenhagen to Marseilles, was too long for a ship to go and come with certainty in one season, considering the ice and the long nights; and that therefore, there is no avoiding the use of entrepots for the trade of Marseilles. Mr. Anderson, in his History of Commerce, very justly observes, "that the dread of a long voyage from the north to the south parts of Europe, contributed, in a great measure, to make Antwerp, in former times, the general magazine of Europe."
The decline of the commerce of the Italian states, in consequence of the discovery of the Cape of Good Hope, has been already mentioned; their efforts however to preserve it were vigorous, and we can trace, even in the middle of the sixteenth century, some Indian commerce passing through Venice. Indeed in the year 1518, Guicciardini informs us that there arrived at Antwerp, five Venetian ships laden with the spices and drugs of the East: and 1565, when the English Russia Company sent their agents into Persia, they found that the Venetians carried on a considerable trade there; they seem to have travelled from Aleppo, and to have brought with them woollen cloths, &c. which they exchanged for raw silks, spices, drugs, &c. The agents remarked, that much Venetian cloth was worn in Persia: in 1581, Sir William Monson complains that the Venetians engrossed the trade between Turkey and Persia, for Persian and Indian merchandize. In 1591, when the English Levant Company endeavoured to establish a trade over land to India, and for that purpose carried some of their goods from Aleppo to Bagdat, and thence down the Tigris to Ormus and to Goa, they found that the Venetians had factories in all these places, and carried on an extensive and lucrative trade. It is difficult to perceive how Indian commodities brought by land to Europe, could compete with those which the Portuguese brought by sea. The larger capital, more numerous connexions, greater credit, and skill of the Venetians, must however have been much in their favour in this competition.
We have noticed that, even so late as the beginning of the eighteenth century, a voyage from Marseilles to the Baltic and back again, was thought by French navigators an impracticable undertaking in the course of one year; and yet a century earlier, viz. in 1699, Venice sent at least one ship annually for Archangel: the first instance we believe of a direct commercial intercourse between the northern and southern extreme seas of Europe.
We must turn to the northern nations of Europe, Sweden, Denmark and Russia, and glean what few important materials we can respecting their commerce during the sixteenth and seventeenth centuries. We have already seen that the commerce of the Scandinavian nations of the middle ages was by no means despicable, though it was chiefly confined to Britain and Iceland, and among themselves: the establishment of the Hanseatic League, some of the cities composing which lay in the Baltic, gradually made the Scandinavian nations better known, and by creating a demand for their produce, stimulated them to industry and commerce. In a poor country, however, with a sterile soil and ungenial climate; where winter prevented intercourse by sea, for several months every year, capital must increase very slowly, and commerce, reciprocally the cause and effect of capital, equally slow. Besides the piratical habits of the early Scandinavians, were adverse to trade; and these habits shed their influence even after they were discontinued. But though the Scandinavian nations were long in entering into any commercial transactions of importance, yet they contributed indirectly to its advancement by the improvements they made in ship-building, as well as by the ample materials for this purpose which their country supplied. Their ships indeed were constructed for warfare, but improvements in this description of ships naturally, and almost unavoidably, led to improvements in vessels designed for trade. In 1449, a considerable commerce was carried on between Bristol, and Iceland, and Finmark, in vessels of 400, 500, and even 900 tons burden, all of which, there is reason to believe, were built in the Baltic; and, about six years afterwards, the king of Sweden was the owner of a ship of nearly 1000 tons burden, which he sent to England, with a request that she might be permitted to trade.
Gustavus I. who reigned about the beginning of the sixteenth century, seems to have been the first Swedish king who directed the attention and industry of his subjects to manufactures and commerce; but, in the early part of his reign, the inhabitants of Lubec had the monopoly of the foreign trade of Stockholm. This sovereign, in 1540, entered into a commercial treaty with Francis I., King of France; the principal article of which was, that the Swedes should import their wine, salt, &c. directly from France, instead of obtaining them indirectly from the Dutch. The conquest of Revel by Sweden, and the consequent footing obtained in Livonia, in 1560, greatly increased its commerce and wealth; while important improvements were introduced into its manufactures of iron a few years afterwards by the Flemings, who fled there on the destruction of Antwerp. Prior to their arrival, most of the Swedish iron was forged in Dantzic and Prussia; but they not only taught the Swedes how to forge it, but also how to make iron cannon, and other iron, copper, and brass articles. The Swedes had from an early period, been sensible of the real riches of their territory, and how much their timber, iron, pitch, and tar, were converted for maritime and other purposes. The pitch and tar manufacture especially had long constituted a very considerable part of their commerce. In 1647, Queen Christiana very unwisely granted a monopoly of these articles, which was productive of the usual effects, injury to commerce, without a correspondent benefit to those who held it. In the beginning of the eighteenth century, the tar company in Sweden not only put a very high price on their goods, but refused to sell them, even for ready money, unless they were exported in Swedish vessels. In consequence of this, England began at this period to encourage the importation of tar, pitch, hemp, and naval timber, from her American colonies.
The commerce of Denmark, besides its common origin with that of the rest of Scandinavia, seems, in the middle ages, to have been chiefly nourished by two circumstances:—The trade which Iceland carried on, and the establishment of Bergen, first as the staple of the German merchants, and afterwards as the chief factory of the Hanse merchants. In 1429, it was also established by the king of Denmark, as the sole staple for the fish trade. In 1553, its trade began to decline, in consequence, it is said, of its being deserted by the Hanseatics. The historian of the Hanseatic League adds, that "whereas the ancient toll of the Sound had been only a golden rose-noble on every sail, which was always understood to be meant on every ship; the court of Denmark had for some time past put a new and arbitrary construction on the word sail, by obliging all ships to pay a rose-noble for every sail on, or belonging to each ship". In consequence of this, the Vandalic-Hanse Towns, or those on the south shores of the Baltic, deserted the Bergen trade. |
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