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16¡£¡¡An¡¡excellent¡¡Law¡£¡¡Admirable¡¡is¡¡that¡¡law¡¡of¡¡Geneva¡¡which¡¡excludes¡¡from¡¡the¡¡magistracy£»¡¡and¡¡even¡¡from¡¡the¡¡admittance¡¡into¡¡the¡¡great¡¡council£»¡¡the¡¡children¡¡of¡¡those¡¡who¡¡have¡¡lived¡¡or¡¡died¡¡insolvent£»¡¡except¡¡they¡¡have¡¡discharged¡¡their¡¡father's¡¡debts¡£¡¡It¡¡has¡¡this¡¡effect£º¡¡it¡¡creates¡¡a¡¡confidence¡¡in¡¡the¡¡merchants£»¡¡in¡¡the¡¡magistrates£»¡¡and¡¡in¡¡the¡¡city¡¡itself¡£¡¡There¡¡the¡¡credit¡¡of¡¡the¡¡individual¡¡has¡¡still¡¡all¡¡the¡¡weight¡¡of¡¡public¡¡credit¡£

17¡£¡¡A¡¡Law¡¡of¡¡Rhodes¡££§14£§¡¡The¡¡inhabitants¡¡of¡¡Rhodes¡¡went¡¡further¡£¡¡Sextus¡¡Empiricus¡¡observes¡¡that¡¡among¡¡those¡¡people¡¡a¡¡son¡¡could¡¡not¡¡be¡¡excused¡¡from¡¡paying¡¡his¡¡father's¡¡debts¡¡by¡¡renouncing¡¡the¡¡succession¡£¡¡This¡¡law¡¡of¡¡Rhodes¡¡was¡¡calculated¡¡for¡¡a¡¡republic¡¡founded¡¡on¡¡commerce¡£¡¡Now¡¡I¡¡am¡¡inclined¡¡to¡¡think¡¡that¡¡reasons¡¡drawn¡¡from¡¡commerce¡¡itself¡¡should¡¡make¡¡this¡¡limitation£»¡¡that¡¡the¡¡debts¡¡contracted¡¡by¡¡the¡¡father¡¡since¡¡the¡¡son's¡¡entering¡¡into¡¡commerce¡¡should¡¡not¡¡affect¡¡the¡¡estate¡¡or¡¡property¡¡acquired¡¡by¡¡the¡¡latter¡£¡¡A¡¡merchant¡¡ought¡¡always¡¡to¡¡know¡¡his¡¡obligations£»¡¡and¡¡to¡¡square¡¡his¡¡conduct¡¡by¡¡his¡¡circumstances¡¡and¡¡present¡¡fortune¡£

18¡£¡¡Of¡¡the¡¡Judges¡¡of¡¡Commerce¡£¡¡Xenophon£»¡¡in¡¡his¡¡book¡¡of¡¡Revenues£»¡¡would¡¡have¡¡rewards¡¡given¡¡to¡¡those¡¡overseers¡¡of¡¡commerce¡¡who¡¡despatched¡¡the¡¡causes¡¡brought¡¡before¡¡them¡¡with¡¡the¡¡greatest¡¡expedition¡£¡¡He¡¡was¡¡sensible¡¡of¡¡the¡¡need¡¡of¡¡our¡¡modern¡¡jurisdiction¡¡of¡¡a¡¡consul¡£

The¡¡affairs¡¡of¡¡commerce¡¡are¡¡but¡¡little¡¡susceptible¡¡of¡¡formalities¡£¡¡They¡¡are¡¡the¡¡actions¡¡of¡¡a¡¡day£»¡¡and¡¡are¡¡every¡¡day¡¡followed¡¡by¡¡others¡¡of¡¡the¡¡same¡¡nature¡£¡¡Hence¡¡it¡¡becomes¡¡necessary¡¡that¡¡every¡¡day¡¡they¡¡should¡¡be¡¡decided¡£¡¡It¡¡is¡¡otherwise¡¡with¡¡those¡¡actions¡¡of¡¡life¡¡which¡¡have¡¡a¡¡principal¡¡influence¡¡on¡¡futurity£»¡¡but¡¡rarely¡¡happen¡£¡¡We¡¡seldom¡¡marry¡¡more¡¡than¡¡once£»¡¡deeds¡¡and¡¡wills¡¡are¡¡not¡¡the¡¡work¡¡of¡¡every¡¡day£»¡¡we¡¡are¡¡but¡¡once¡¡of¡¡age¡£

Plato£§15£§¡¡says¡¡that¡¡in¡¡a¡¡city¡¡where¡¡there¡¡is¡¡no¡¡maritime¡¡commerce¡¡there¡¡ought¡¡not¡¡to¡¡be¡¡above¡¡half¡¡the¡¡number¡¡of¡¡civil¡¡laws£º¡¡this¡¡is¡¡very¡¡true¡£¡¡Commerce¡¡brings¡¡into¡¡the¡¡same¡¡country¡¡different¡¡kinds¡¡of¡¡people£»¡¡it¡¡introduces¡¡also¡¡a¡¡great¡¡number¡¡of¡¡contracts¡¡and¡¡species¡¡of¡¡wealth£»¡¡with¡¡various¡¡ways¡¡of¡¡acquiring¡¡it¡£

Thus¡¡in¡¡a¡¡trading¡¡city¡¡there¡¡are¡¡fewer¡¡judges£»¡¡and¡¡more¡¡laws¡£

19¡£¡¡That¡¡a¡¡Prince¡¡ought¡¡not¡¡to¡¡engage¡¡himself¡¡in¡¡Commerce¡£¡¡Theophilus£»£§16£§¡¡seeing¡¡a¡¡vessel¡¡laden¡¡with¡¡merchandise¡¡for¡¡his¡¡wife¡¡Theodora£»¡¡ordered¡¡it¡¡to¡¡be¡¡burned¡£¡¡¡¨I¡¡am¡¡emperor£»¡¨¡¡said¡¡he£»¡¡¡¨and¡¡you¡¡make¡¡me¡¡the¡¡master¡¡of¡¡a¡¡galley¡£¡¡By¡¡what¡¡means¡¡shall¡¡these¡¡poor¡¡men¡¡gain¡¡a¡¡livelihood¡¡if¡¡we¡¡take¡¡their¡¡trade¡¡out¡¡of¡¡their¡¡hands£¿¡¨¡¡He¡¡might¡¡have¡¡added¡£¡¡Who¡¡shall¡¡set¡¡bounds¡¡to¡¡us¡¡if¡¡we¡¡monopolise¡¡all¡¡ourselves£¿¡¡Who¡¡shall¡¡oblige¡¡us¡¡to¡¡fulfil¡¡our¡¡engagements£¿¡¡Our¡¡courtiers¡¡will¡¡follow¡¡our¡¡example£»¡¡they¡¡will¡¡be¡¡more¡¡greedy¡¡and¡¡more¡¡unjust¡¡than¡¡we£º¡¡the¡¡people¡¡have¡¡some¡¡confidence¡¡in¡¡our¡¡justice£»¡¡they¡¡will¡¡have¡¡none¡¡in¡¡our¡¡opulence£º¡¡all¡¡these¡¡numerous¡¡duties£»¡¡the¡¡cause¡¡of¡¡their¡¡wants£»¡¡are¡¡certain¡¡proofs¡¡of¡¡ours¡£

20¡£¡¡The¡¡same¡¡Subject¡¡continued¡£¡¡When¡¡the¡¡Portuguese¡¡and¡¡Castilians¡¡bore¡¡sway¡¡in¡¡the¡¡East¡¡Indies£»¡¡commerce¡¡had¡¡such¡¡opulent¡¡branches¡¡that¡¡their¡¡princes¡¡did¡¡not¡¡fail¡¡to¡¡seize¡¡them¡£¡¡This¡¡ruined¡¡their¡¡settlements¡¡in¡¡those¡¡parts¡¡of¡¡the¡¡world¡£

The¡¡viceroy¡¡of¡¡Goa¡¡granted¡¡exclusive¡¡privileges¡¡to¡¡particular¡¡persons¡£¡¡The¡¡people¡¡had¡¡no¡¡confidence¡¡in¡¡these¡¡men£»¡¡and¡¡the¡¡commerce¡¡declined£»¡¡by¡¡the¡¡perpetual¡¡change¡¡of¡¡those¡¡to¡¡whom¡¡it¡¡was¡¡entrusted£»¡¡nobody¡¡took¡¡care¡¡to¡¡improve¡¡it£»¡¡or¡¡to¡¡leave¡¡it¡¡entire¡¡to¡¡his¡¡successor¡£¡¡In¡¡short£»¡¡the¡¡profit¡¡centred¡¡in¡¡a¡¡few¡¡hands£»¡¡and¡¡was¡¡not¡¡sufficiently¡¡extended¡£

21¡£¡¡Of¡¡the¡¡Commerce¡¡of¡¡the¡¡Nobility¡¡in¡¡a¡¡Monarchy¡£¡¡In¡¡a¡¡monarchical¡¡government£»¡¡it¡¡is¡¡contrary¡¡to¡¡the¡¡spirit¡¡of¡¡commerce¡¡that¡¡any¡¡of¡¡the¡¡nobility¡¡should¡¡be¡¡merchants¡£¡¡¡¨This£»¡¨¡¡said¡¡the¡¡Emperors¡¡Honorius¡¡and¡¡Theodosius£»£§17£§¡¡¡¨would¡¡be¡¡pernicious¡¡to¡¡cities£»¡¡and¡¡would¡¡remove¡¡the¡¡facility¡¡of¡¡buying¡¡and¡¡selling¡¡between¡¡the¡¡merchants¡¡and¡¡the¡¡plebeians¡£¡¨

It¡¡is¡¡contrary¡¡to¡¡the¡¡spirit¡¡of¡¡monarchy¡¡to¡¡admit¡¡the¡¡nobility¡¡into¡¡commerce¡£¡¡The¡¡custom¡¡of¡¡suffering¡¡the¡¡nobility¡¡of¡¡England¡¡to¡¡trade¡¡is¡¡one¡¡of¡¡those¡¡things¡¡which¡¡has¡¡there¡¡mostly¡¡contributed¡¡to¡¡weaken¡¡the¡¡monarchical¡¡government¡£

22¡£¡¡A¡¡singular¡¡Reflection¡£¡¡Persons¡¡struck¡¡with¡¡the¡¡practice¡¡of¡¡some¡¡states¡¡imagine¡¡that¡¡in¡¡France¡¡they¡¡ought¡¡to¡¡make¡¡laws¡¡to¡¡engage¡¡the¡¡nobility¡¡to¡¡enter¡¡into¡¡commerce¡£¡¡But¡¡these¡¡laws¡¡would¡¡be¡¡the¡¡means¡¡of¡¡destroying¡¡the¡¡nobility£»¡¡without¡¡being¡¡of¡¡any¡¡advantage¡¡to¡¡trade¡£¡¡The¡¡practice¡¡of¡¡this¡¡country¡¡is¡¡extremely¡¡wise£»¡¡merchants¡¡are¡¡not¡¡nobles£»¡¡though¡¡they¡¡may¡¡become¡¡so¡£¡¡They¡¡have¡¡the¡¡hopes¡¡of¡¡obtaining¡¡a¡¡degree¡¡of¡¡nobility£»¡¡unattended¡¡with¡¡its¡¡actual¡¡inconveniences¡£¡¡There¡¡is¡¡no¡¡surer¡¡way¡¡of¡¡being¡¡advanced¡¡above¡¡their¡¡profession¡¡than¡¡to¡¡manage¡¡it¡¡well£»¡¡or¡¡with¡¡success£»¡¡the¡¡consequence¡¡of¡¡which¡¡is¡¡generally¡¡an¡¡affluent¡¡fortune¡£

Laws¡¡which¡¡oblige¡¡every¡¡one¡¡to¡¡continue¡¡in¡¡his¡¡profession£»¡¡and¡¡to¡¡devolve¡¡it¡¡upon¡¡his¡¡children£»¡¡neither¡¡are¡¡nor¡¡can¡¡be¡¡of¡¡use¡¡in¡¡any¡¡but¡¡despotic¡¡kingdoms£»¡¡where¡¡nobody¡¡either¡¡can¡¡or¡¡ought¡¡to¡¡have¡¡emulation¡££§18£§

Let¡¡none¡¡say¡¡that¡¡every¡¡one¡¡will¡¡succeed¡¡better¡¡in¡¡his¡¡profession¡¡when¡¡he¡¡cannot¡¡change¡¡it¡¡for¡¡another£º¡¡I¡¡say¡¡that¡¡a¡¡person¡¡will¡¡succeed¡¡best¡¡when¡¡those¡¡who¡¡have¡¡excelled¡¡hope¡¡to¡¡rise¡¡to¡¡another¡£

The¡¡possibility¡¡of¡¡purchasing¡¡honour¡¡with¡¡gold¡¡encourages¡¡many¡¡merchants¡¡to¡¡put¡¡themselves¡¡in¡¡circumstances¡¡by¡¡which¡¡they¡¡may¡¡attain¡¡it¡£¡¡I¡¡do¡¡not¡¡take¡¡it¡¡upon¡¡me¡¡to¡¡examine¡¡the¡¡justice¡¡of¡¡thus¡¡bartering¡¡for¡¡money¡¡the¡¡price¡¡of¡¡virtue¡£¡¡There¡¡are¡¡governments¡¡where¡¡this¡¡may¡¡be¡¡very¡¡useful¡£

In¡¡France¡¡the¡¡dignity¡¡of¡¡the¡¡long¡¡robe£»¡¡which¡¡places¡¡those¡¡who¡¡wear¡¡it¡¡between¡¡the¡¡great¡¡nobility¡¡and¡¡the¡¡people£»¡¡and¡¡without¡¡having¡¡such¡¡shining¡¡honours¡¡as¡¡the¡¡former£»¡¡has¡¡all¡¡their¡¡privileges£»¡¡a¡¡dignity¡¡which£»¡¡while¡¡this¡¡body£»¡¡the¡¡depositary¡¡of¡¡the¡¡laws£»¡¡is¡¡encircled¡¡with¡¡glory£»¡¡leaves¡¡the¡¡private¡¡members¡¡in¡¡a¡¡mediocrity¡¡of¡¡fortune£»¡¡a¡¡dignity¡¡in¡¡which¡¡there¡¡are¡¡no¡¡other¡¡means¡¡of¡¡distinction¡¡but¡¡by¡¡a¡¡superior¡¡capacity¡¡and¡¡virtue£»¡¡yet¡¡which¡¡still¡¡leaves¡¡in¡¡view¡¡one¡¡much¡¡more¡¡illustrious£º¡¡the¡¡warlike¡¡nobility£»¡¡likewise£»¡¡who¡¡conceive¡¡that£»¡¡whatever¡¡degree¡¡of¡¡wealth¡¡they¡¡are¡¡possessed¡¡of£»¡¡they¡¡may¡¡still¡¡increase¡¡their¡¡fortunes£»¡¡who¡¡are¡¡ashamed¡¡of¡¡augmenting£»¡¡if¡¡they¡¡begin¡¡not¡¡with¡¡dissipating£»¡¡their¡¡estates£»¡¡who¡¡always¡¡serve¡¡their¡¡prince¡¡with¡¡their¡¡whole¡¡capital¡¡stock£»¡¡and¡¡when¡¡that¡¡is¡¡sunk¡¡make¡¡room¡¡for¡¡others£»¡¡who¡¡follow¡¡their¡¡example£»¡¡who¡¡take¡¡the¡¡field¡¡that¡¡they¡¡may¡¡never¡¡be¡¡reproached¡¡with¡¡not¡¡having¡¡been¡¡there£»¡¡who£»¡¡when¡¡they¡¡can¡¡no¡¡longer¡¡hope¡¡for¡¡riches£»¡¡live¡¡in¡¡expectation¡¡of¡¡honours£»¡¡and¡¡when¡¡they¡¡have¡¡not¡¡obtained¡¡the¡¡latter£»¡¡enjoy¡¡the¡¡consolation¡¡of¡¡having¡¡acquired¡¡glory£º¡¡all¡¡these¡¡things¡¡together¡¡have¡¡necessarily¡¡contributed¡¡to¡¡augment¡¡the¡¡grandeur¡¡of¡¡this¡¡kingdom£»¡¡and¡¡if¡¡for¡¡two¡¡or¡¡three¡¡centuries¡¡it¡¡has¡¡been¡¡incessantly¡¡increasing¡¡in¡¡power£»¡¡this¡¡must¡¡be¡¡attributed¡¡not¡¡to¡¡Fortune£»¡¡who¡¡was¡¡never¡¡famed¡¡for¡¡constancy£»¡¡but¡¡to¡¡the¡¡goodness¡¡of¡¡its¡¡laws¡£

23¡£¡¡To¡¡what¡¡Nations¡¡Commerce¡¡is¡¡prejudicial¡£¡¡Riches¡¡consist¡¡either¡¡in¡¡lands¡¡or¡¡in¡¡movable¡¡effects¡£¡¡The¡¡soil¡¡of¡¡every¡¡country¡¡is¡¡commonly¡¡possessed¡¡by¡¡the¡¡natives¡£¡¡The¡¡laws¡¡of¡¡most¡¡states¡¡render¡¡foreigners¡¡unwilling¡¡to¡¡purchase¡¡their¡¡lands£»¡¡and¡¡nothing¡¡but¡¡the¡¡presence¡¡of¡¡the¡¡owner¡¡improves¡¡them£º¡¡this¡¡kind¡¡of¡¡riches£»¡¡therefore£»¡¡belongs¡¡to¡¡every¡¡state¡¡in¡¡particular£»¡¡but¡¡movable¡¡effects£»¡¡as¡¡money£»¡¡notes£»¡¡bills¡¡of¡¡exchange£»¡¡stocks¡¡in¡¡companies£»¡¡vessels£»¡¡and£»¡¡in¡¡fine£»¡¡all¡¡merchandise£»¡¡belong¡¡to¡¡the¡¡whole¡¡world¡¡in¡¡general£»¡¡in¡¡this¡¡respect£»¡¡it¡¡is¡¡composed¡¡of¡¡but¡¡one¡¡single¡¡state£»¡¡of¡¡which¡¡all¡¡the¡¡societies¡¡upon¡¡earth¡¡are¡¡members¡£¡¡The¡¡people¡¡who¡¡possess¡¡more¡¡of¡¡these¡¡movable¡¡effects¡¡than¡¡any¡¡other¡¡on¡¡the¡¡globe¡¡are¡¡the¡¡most¡¡opulent¡£¡¡Some¡¡states¡¡have¡¡an¡¡immense¡¡quantity¡¡acquired¡¡by¡¡their¡¡commodities£»¡¡by¡¡the¡¡labour¡¡of¡¡their¡¡mechanics£»¡¡by¡¡their¡¡industry£»¡¡by¡¡their¡¡discoveries£»¡¡and¡¡even¡¡by¡¡chance¡£¡¡The¡¡avarice¡¡of¡¡nations¡¡makes¡¡them¡¡quarrel¡¡for¡¡the¡¡movables¡¡of¡¡the¡¡whole¡¡universe¡£¡¡If¡¡we¡¡could¡¡find¡¡a¡¡state¡¡so¡¡unhappy¡¡as¡¡to¡¡be¡¡deprived¡¡of¡¡the¡¡effects¡¡of¡¡other¡¡countries£»¡¡and¡¡at¡¡the¡¡same¡¡time¡¡of¡¡almost¡¡all¡¡its¡¡own£»¡¡the¡¡proprietors¡¡of¡¡the¡¡lands¡¡would¡¡be¡¡only¡¡planters¡¡to¡¡foreigners¡£¡¡This¡¡state£»¡¡wanting¡¡all£»¡¡could¡¡acquire¡¡nothing£»¡¡therefore£»¡¡it¡¡would¡¡be¡¡much¡¡better¡¡for¡¡the¡¡inhabitants¡¡not¡¡to¡¡have¡¡the¡¡least¡¡commerce¡¡with¡¡any¡¡nation¡¡upon¡¡earth£»¡¡for¡¡commerce¡¡in¡¡these¡¡circumstances¡¡must¡¡necessarily¡¡lead¡¡them¡¡to¡¡poverty¡£

A¡¡country¡¡that¡¡constantly¡¡exports¡¡fewer¡¡manufactures¡¡or¡¡commodities¡¡than¡¡it¡¡receives¡¡will¡¡soon¡¡find¡¡

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