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happiest manner。



    If these historical facts are duly considered; can anyone



possibly maintain that the English could ever have so widely



extended their manufacturing power; acquired such an immeasurably



great commerce; or attained such overwhelming naval power; save by



means of the commercial policy which they adopted and pursued? No;



the assertion that the English have attained to their present



commercial eminence and power; not by means of their commercial



policy; but in spite of it; appears to us to be one of the greatest



falsehoods promulgated in the present century。



    Had the English left everything to itself  'Laiss椤aire et



laiss椤ller;' as the popular economical school recommends  the



merchants of the Steelyard would be still carrying on their trade



in London; the Belgians would be still manufacturing cloth for the



English; England would have still continued to be the sheep…farm of



the Hansards; just as Portugal became the vineyard of England; and



has remained so till our days; owing to the stratagem of a cunning



diplomatist。 Indeed; it is more than probable that without her



commercial policy Eng1and would never have attained to such a large



measure of municipal and individual freedom as she now possesses;



for such freedom is the daughter of industry and of wealth。



    In view of such historical considerations; how has it happened



that Adam Smith has never attempted to follow the history of the



industrial and commercial rivalry between the Hanseatic League and



England from its origin until its close? Yet some passages in his



work show clearly that he was not unacquainted with the causes of



the fall of the League and its results。 'A merchant;' he says; 'is



not necessarily the citizen of any particular country。 It is in a



great measure indifferent to him from what place he carries on his



trade; and a very trifling disgust will make him remove his



capital; and together with it all the industry which it supports;



from one country to another。 No part of it can be said to belong to



any particular country till it has been spread; as it were; over



the face of that country; either in buildings or in the lasting



improvement of lands。 No vestige now remains of the great wealth



said to have been possessed by the greater part of the Hanse Towns



except in the obscure histories of the thirteenth and fourteenth



centuries。 it is even uncertain where some of them were situated;



or to what towns in Europe the Latin names given to some of them



belong。'(17*)



    How strange that Adam Smith; having such a clear insight into



the secondary causes of the downfall of the Hanseatic League; did



not feel himself compelled to examine into its primary causes! For



this purpose it would not have been at all necessary to have



ascertained the sites where the fallen cities had stood; or to



which cities belonged the Latin names in the obscure chronicles。 He



need not even have consulted those chronicles at all。 His own



countrymen; Anderson; Macpherson; King; and Hume could have



afforded him the necessary explanation。



    How; therefore; and for what reason could such a profound



inquirer permit himself to abstain from an investigation at once so



interesting and so fruitful in results? We can see no other reason



than this  that it would have led to conclusions which would have



tended but little to support his principle of absolute free trade。



He would infallibly have been confronted with the fact that after



free commercial intercourse with the Hansards had raised English



agriculture from a state of barbarism; the protective commercial



policy adopted by the English nation at the expense of the



Hansards; the Belgians; and the Dutch helped England to attain to



manufacturing supremacy; and that from the latter; aided by her



Navigation Acts; arose her commercial supremacy。



    These facts; it would appear; Adam Smith was not willing to



know or to acknowledge; for indeed they belong to the category of



those inconvenient facts of which J。B。 Say observes that they would



have proved very adverse to his system。







NOTES:







1。 Anderson; Origins of Commerce; pt。 I; p。 46。







2。 Wealth of Nations; Book IV; ch。 ii。







3。 Hume; History of England; Part IV; ch。 xxi。







4。 The revenues of the kings of England were derived at that time



more from export duties than from import duties。 Freedom of export



and duties on imports (viz。 of manufactures) betoken at once an



advanced state of industry and an enlightened State administration。



The governments and countries of the North stood at about the same



stage of culture and statemanship as the Sublime Porte does in our



day。 The Sultan has; notably; only recently concluded commercial



treaties; by which he engages not to tax exports of raw materials



and manufactures higher than fourteen per cent but imports not



higher than five per cent。 And there accordingly that system of



finance which professes to regard revenue as its chief object



continues in full operation。 Those statesmen and public writers who



follow or advocate that system ought to betake themselves to



Turkey; there they might really stand at the head of the times。







5。 The Hansards were formerly termed 'Easterlings' or Eastern



merchants; in England; in contradistinction to those of the West;



or the Belgians and Dutch。 From this term is derived 'sterling' or



'pound sterling'; an abbreviation of the word 'Easterlings' because



formerly all the coin in circulation in England was that of the



Hanseatic League。







6。 Hume; History of England; ch。 xxxv。







7。 M。 I。 Sartorius; Geschichte der Hansa。







8。 II Edward III; cap。 5。







9。 Rymer's Foedera; p。 496。 De Witte; Interest of Holland; p。 45。







10。 Hume; History of England; chap。 xxv。







11。 Edward IV; cap。 iv。 The preamble to this Act is so



characteristic that we cannot refrain from quoting it verbatim。



    'Whereas to the said Parliament; by the artificers men and



women inhabitant and resident in the city of London and in other



cities; towns; boroughs and villages within this realm and Wales;



it has been piteously shewed and complained; how that all they in



general and every of them he greatly impoverished and much injured



and prejudiced of their worldly increase and living; by the great



multitude of divers chaffers and wares pertaining to their



mysteries and occupations; being fully wrought and ready made to



sale; as well by the hand of strangers being the king's enemies as



others; brought into this realm and Wales from beyond the sea; as



well by merchant strangers as denizens or other persons; whereof



the greatest part is deceitful and nothing worth in regard of any



man's occupation or profits; by occasion whereof the said



artificers cannot live by their mysteries and occupations; as they



used to do in times past; but divers of them  as well



householders as hirelings and other servants and apprentices  in



great number be at this day unoccupied; and do hardly live; in



great idleness; poverty and ruin; whereby many inconveniences have



grown before this time; and hereafter more are like to come (which



God defend); if due remedy be not in their behalf provided。'







12。 Hume; chap。 xxvi。







13。 Hume; chap。 xxxv; also Sir J。 Hayward; Life and Reign of Edward



VI。







14。 Hume; chap。 xxxvii; Heylyn。







15。 Campbell's Lives of the Admirals; vol。 i; p。 386。







16。 Our author would appear to have forgotten; or else un

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