Blackstone's Commentaries, vol. i. p. 413; Daniel, Hist. de la Milice, vol. i. p. 210, vol. ii. pp. 491, 493; Œuvres de Turgot, vol. viii. p. 228.
357
The leading facts respecting the employment of mercenary troops are indicated with great judgment by Mr. Hallam, in his Middle Ages, vol. i. p. 328–337.
358
Grose (Military Antiquities, vol. i. pp. 310, 311) says, that until the sixteenth century, English soldiers had no professional dress, but ‘were distinguished by badges of their leaders' arms, similar to those now worn by watermen.’ It was also early in the sixteenth century that there first arose a separate military literature. Daniel, Hist. de la Milice, vol. i. p. 380: ‘Les auteurs, qui ont écrit en détail sur la discipline militaire: or ce n'est guères que sous François I, et sous l'Empereur Charles V, que les Italiens, les François, les Espagnols et les Allemans ont commencé à écrire sur ce sujet.’
359
The change from the time when every layman was a soldier, is very remarkable. Adam Smith (Wealth of Nations, book v. chap. i. p. 291) says, ‘Among the civilized nations of modern Europe, it is commonly computed, that not more than the one-hundredth part of the inhabitants of any country can be employed as soldiers, without ruin to the country which pays the expense of their service.’ The same proportion is given in Sadler's Law of Population, vol. i. p. 292; and in Grandeur et Décadence des Romains, chap. iii. —Œuvres de Montesquieu, p. 130: also in Sharpe's History of Egypt, vol. i. p. 105; and in Alison's History of Europe, vol. xii. p. 318.
360
The pacific tendencies of political economy are touched on very briefly in Blanqui, Histoire de l'Economie Politique, vol. ii. p. 207; and in Twiss's Progress of Political Economy, p. 240.
361
This favourite doctrine is illustrated in a curious ‘Discourse,’ written in 1578, and printed in Stow's London, in which it is laid down, that if our exports exceed our imports, we gain by the trade; but that, if they are less, we lose. Stow's London, edit. Thoms, 1842, p. 205. Whenever this balance was disturbed, politicians were thrown into an agony of fear. In 1620, James I. said, in one of his long speeches, ‘It's strange that my Mint hath not gone this eight or nine years; but I think the fault of the want of money is the uneven balancing of trade.’ Parl. History, vol. i. p. 1179; see also the debate ‘On the Scarcity of Money,’ pp. 1194–1196. In 1620, the House of Commons, in a state of great alarm, passed a resolution, ‘That the importation of tobacco out of Spain is one reason of the scarcity of money in this kingdom.’ Parl. Hist. vol. i. p. 1198. In 1627, it was actually argued in the House of Commons that the Netherlands were being weakened by their trade with the East Indies, because it carried money out of the country! Parl. Hist. vol. ii. p. 220. Half a century later, the same principle was advocated by Sir William Temple in his Letters, and also in his Observations upon the United Provinces. Temple's Works, vol. i. p. 175, vol. ii. pp. 117, 118.
362
In 1672, the celebrated Earl of Shaftesbury, then Lord Chancellor, announced that the time had come when the English must go to war with the Dutch; for that it was ‘impossible both should stand upon a balance; and that, if we do not master their trade, they will ours. They or we must truckle. One must and will give the law to the other. There is no compounding, where the contest is for the trade of the whole world.’ Somers' Tracts, vol. viii. p. 39. A few months later, still insisting on the propriety of the war, he gave as one of his reasons that it ‘was necessary to the trade of England that there should be a fair adjustment of commerce in the East Indies.’ Parl. Hist. vol. iv. p. 587. In 1701, Stepney, a diplomatist and one of the lords of trade, published an essay, strongly insisting on the benefits which would accrue to English commerce by a war with France. Somers' Tracts, vol. xi. pp. 199, 217; and he says, p. 205, that one of the consequences of peace with France would be ‘the utter ruin and destruction of our trade.’ See also, in vol. xiii. p. 688, the remarks on the policy of William III. In 1743, Lord Hardwicke, one of the most eminent men of his time, said, in the House of Lords, ‘If our wealth is diminished, it is time to ruin the commerce of that nation which has driven us from the markets of the Continent – by sweeping the seas of their ships, and by blockading their ports.’ Campbell's Lives of the Chancellors, vol. v. p. 89.
363
In regard to the seventeenth century, see Mill's History of India, vol. i. pp. 41, 42. To this I may add, that even Locke had very confused notions respecting the use of money in trade. See Essay on Money, in Locke's Works, vol. iv.; and in particular pp. 9, 10, 12, 20, 21, 49–52. Berkeley, profound thinker as he was, fell into the same errors, and assumes the necessity of maintaining the balance of trade, and lessening our imports in proportion as we lessen our exports. See the Querist, Nos. xcix. clxi., in Berkeley's Works, vol. ii. pp. 246, 250: see also his proposal for a sumptuary law, in Essay towards Preventing the Ruin of Great Britain, in Works, vol. ii. p. 190. The economical views of Montesquieu (Esprit des Lois, livre xx. chap. xii. in Œuvres, p. 353) are as hopelessly wrong; while Vattel (Droit des Gens, vol. i. pp. 111, 117, 118, 206) goes out of his way to praise the mischievous interference of the English government, which he recommends as a pattern to other states.
364
The Earl of Bristol, a man of some ability, told the House of Lords, in 1642, that it was a great advantage to England for other countries to go to war with each other; because by that means we should get their money, or, as he called it, their ‘wealth.’ See his speech, in Parl. History, vol. ii. pp. 1274–1279.
365
Serra, who wrote in 1613, is said to have been the first to prove the absurdity of discouraging the exportation of the precious metals. See Twiss on the Progress of Political Economy, pp. 8, 12, 13. But I believe that the earliest approach towards modern economical discoveries is a striking essay published in 1581, and ascribed to William Stafford. It will be found in the Harleian Miscellany, vol. ix. pp. 139–192, edit. Park, 1812; and the title, Brief Conceipt of English Policy, gives an inadequate idea of what is, on the whole, the most important work on the theory of politics which had then appeared: since the author not only displays an insight into the nature of price and value, such as no previous thinker possessed, but he points out clearly the causes of that system of enclosures which is the leading economical fact in the reign of Elizabeth, and is intimately connected with the rise of the poor-laws. Some account of this essay is given by Dr. Twiss; but the original is easily accessible, and should be read by every student of English history. Among other heretical propositions, it recommends free trade in corn.
366
In regard to the interference of the English legislature, it is stated by Mr. M'Culloch (Polit. Econ. p. 269), on the authority of a committee of the House of Commons, that before the year 1820, ‘no fewer than two thousand laws with respect to commerce had been passed at different periods.’ It may be confidently asserted, that every one of those laws was an unmitigated evil, since no trade, and indeed no interest of any kind, can be protected by government without inflicting immeasurably greater loss upon the unprotected interests and trades; while, if the protection is universal, the loss will be universal. Some striking instances of the absurd laws which have been passed respecting trade, are collected in Barrington's Observations on the Statutes, pp. 279–285. Indeed, it was considered necessary that every parliament should do something in this way; and Charles II., in one of his speeches, says, ‘I pray, contrive any good short bills which may improve the industry of the nation … and so God bles your councils.’ Parl. History, vol. iv. p. 291. Compare the remarks on the fishery-trade, in Somers' Tracts,
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