By Charles Wilson
ISBN-10: 0582482348
ISBN-13: 9780582482340
Read Online or Download England’s Apprenticeship, 1603-1763 PDF
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Extra info for England’s Apprenticeship, 1603-1763
Sample text
What Adam Smith was to call 'the mercantile system', and later writers 'mercantilism', emerged from the streams of petitions from private parties directed to these various Committees of State, from the continuous discussions that arose from the frictions between competing private interests and from attempts to reconcile the demands of the mercantile elements in the State with needs deemed to be those of the Commonwealth as a whole. 'The Government', Mr Hinton has written, 'had a will of its own,' Its decisions were based on 'ancient and conventional ideas about the common weal, which the subjects abundandy shared and which easily transcended the interests of particular groups'.
Is the first cause of the decay of trade'. 1 Some twenty years earlier Malynes had formulated the view that England's problem was the result of her currency being undervalued. There was thus a permanent stimulus to the export of specie, and to the movement of the terms of trade against England. To this explanation, conceived entirely in terms of monetary and price factors, he still clung obstinately in 1622. Malynes's remedy was straightforward: to stop specie export by controlling the rate of exchange.
A glimmer of optimism came from the Levant Company, which was driving profitably a multilateral trade in the Mediterranean. 'Turkey merchant' was a synonym for wealth, and some of London's richest men drew part of their incomes from the Levant. The Elizabethan penetration of the Mediterranean had continued. Trade had expanded, and expanded in a way that for once satisfied the criteria of the times. Much of it consisted of raw material imports — silk especially for a growing English manufacture, cotton too.
England’s Apprenticeship, 1603-1763 by Charles Wilson
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