Works; Collected and Edited by James Spedding, Robert Leslie Ellis, and Douglas Denon Heath Volume 12-13

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1872 edition. Excerpt: ... courses; but on the true principles of commercial legislation he had no clearer light than the rest of his contemporaries. To forbid usury, for instance, he saw would be mischievous, as this world goes; because without usury thero would be no lending. But he did not venture far enough to perceive that the interest to be paid on money to be lent is as fair and just a subject of bargain as any other, and ought to be as free. If he had thought it possible to make men lend their money without taking interest, he would apparently have thought it a good thing. His objection to the attempt was that it was Utopian, not that it was against the sound principles of trading.' 60 also with regard to foreign trade, he saw that indiscreet endeavours to monopolise a manufacture might end in the loss of it; because if the foreigner fouud it too difficult to procure, he would learn to do without it or to make it for himself. But that it was for the interest of all nations that each should bo encouraged to produce whatever it could produce best and at least cost, that all possible facilities, both of export and import, should be given to all alike, and that the conditions of cichnnge should be left to the parties, --this I think he would not have been prepared to admit. Upon the balance of trade, the value of the precious metals, and the protection of native industry, he appears to have held all the doctrines which were then considered orthodox. We left the New Company of Merchant Adventurers struggling to win from the Dutch the dyeing and dressing of cloth, as well as the weaving.' The plan of operation was very simple. All exportation of cloth uudyed and undressed was to be prohibited. Then the Dutch, it was thought, not being able to get the cloth..