COMMERCE. The industrial supremacy which Great Britain has so long enjoyed has probably been more manifest in its commercial aspect than in any other. No interests excite greater solici tude on the part of British statesmen, or exercise a greater influence on the policy of the country, than the commercial. in the words of Mr. Cham berlain, "commerce is the greatest of all political interests,", and the first aim of the Government should be to "increase our trade and to settle it on a firm foundation." The protection and expansion of trade are the hopes of the English manufacturer, and arc the secret of England's policy of colonial expansion and zeal in main taming a naval supremacy. In acquiring and maintaining this position, Great Britain has per haps more natural conditions in its favor than any other country. Situated off the west coast of Europe, it naturally became a convenient trade centre, and, because of its insularity, it was granted from the first a freedom from disturbing international conflicts that was unknown to the Continental trade centres. The importance of this strategic central position increased with the growing commercial importance of the Western Hemisphere. Again, Great Britain has been fa vored by the characteristics of her coast-line, already mentioned under TOPOGRAPHY. To these natural advantages are added other more or less potent influences, such as her abundant natural resources, the energy, ingenuity, and perseverance of her people, her democratic institutions, and the activity of the Government in fostering and protecting trade interests.
The supremacy of English commerce is, how ever, of comparatively recent times. Until the reign of Queen Elizabeth the trade of the coun try had been almost wholly in the hands of for eigners. The fostering of English commerce and shipping was one of the expedients devised to help in the acquisition of a large treasure of precious metals; for, according to the mercan tilists of that era, increase in trade would result in the natural inflow of metals. The organiza
tion of trading companies was encouraged by the granting of monopolies. The Levant Company and the East India Company extended their operations into the East, while the Virginia Company, Bermuda Company, Hudson Bay Company, and a number of others turned to the newly discovered lands of the West, and were influential factors in the establishment of colo nies. Thus began the transformation of a small European country into a vast world empire. Though at this stage competition both in the East and West was very great, England succeed ed in extending its trade, the total for imports and exports increasing from £4,628,000 in 1613 to £12,428,000 in 1699. Out of the trade rivalry grew the Navigation Laws of Cromwell and subse quent acts, which tended to limit colonial trade to English or colonial vessels, and greatly re stricted colonial manufactures, with' a view to fostering British trade and shipping interests, and extending the market for British goods. The policy operated with great severity against both Scotch and Irish trade and industries. The union of Scotland with England in 1707, and the establishment of free trade between the two, greatly benefited British commerce. Through the wars of the eighteenth century Great Britain extended its colonial territory, and thereby broad ened its markets. And when in the latter part of that century the inventions of British genius so greatly increased English productive power, its commerce grew at an unprecedented rate. From 1782 to 1792 the trade increased in value from £23,300,000 to £44,500,000, and by 1810 it had reached a value of £87,741,000. In 1780 the East Indian trade formed but one thirty-second part of the total foreign trade; but after the abolition of the monopoly feature of the rights of the East _India. Company ae applied to India, in 1813, and later in China, this commerce rapid ly increased.