On Trade

As trade enriched the citizens in England, so it contributed to their freedom, and this freedom on the other side extended their commerce, whence arose the grandeur of the State. Trade raised by insensible degrees the naval power, which gives the English a superiority over the seas, and they now are masters of very near two hundred ships of war. Posterity will very probably be surprised to hear that an island whose only produce is a little lead, tin, fuller’s-earth, and coarse wool, should become so powerful by its commerce, as to be able to send, in 1723, three fleets at the same time to three different and far distanced parts of the globe. One before Gibraltar, conquered and still possessed by the English; a second to Portobello, to dispossess the King of Spain of the treasures of the West Indies; and a third into the Baltic, to prevent the Northern Powers from coming to an engagement.

As trade made England’s citizens richer, it also helped make them free. Their freedom, in turn, expanded their trade, making the state powerful. Trade gradually built up the navy, giving the English command of the seas. They now have nearly two hundred warships. Future generations will very probably be surprised that an island producing only a little lead, tin, fuller’s-earth, and coarse wool could become so powerful through trade. In 1723, England could send three fleets at once to three distant parts of the world. One went to Gibraltar, which the English had conquered and still held. A second went to Portobello to take the treasures of the West Indies from the King of Spain. A third went into the Baltic to prevent the Northern Powers from going to battle.

At the time when Louis XIV. made all Italy tremble, and that his armies, which had already possessed themselves of Savoy and Piedmont, were upon the point of taking Turin; Prince Eugene was obliged to march from the middle of Germany in order to succour Savoy. Having no money, without which cities cannot be either taken or defended, he addressed himself to some English merchants. These, at an hour and half’s warning, lent him five millions, whereby he was enabled to deliver Turin, and to beat the French; after which he wrote the following short letter to the persons who had disbursed him the above-mentioned sums: “Gentlemen, I have received your money, and flatter myself that I have laid it out to your satisfaction.” Such a circumstance as this raises a just pride in an English merchant, and makes him presume (not without some reason) to compare himself to a Roman citizen; and, indeed, a peer’s brother does not think traffic beneath him. When the Lord Townshend was Minister of State, a brother of his was content to be a City merchant; and at the time that the Earl of Oxford governed Great Britain, a younger brother was no more than a factor in Aleppo, where he chose to live, and where he died. This custom, which begins, however, to be laid aside, appears monstrous to Germans, vainly puffed up with their extraction. These think it morally impossible that the son of an English peer should be no more than a rich and powerful citizen, for all are princes in Germany. There have been thirty highnesses of the same name, all whose patrimony consisted only in their escutcheons and their pride.

At a time when Louis XIV made all Italy tremble, his armies had already seized Savoy and Piedmont. They were about to take Turin. Prince Eugene therefore had to march from central Germany to help Savoy. He had no money, without which cities can neither be taken nor defended. So he turned to some English merchants. With only an hour and a half’s notice, the merchants lent him five million. This loan enabled him to save Turin and defeat the French. Afterward, he wrote this short letter to the merchants who had provided the money: “Gentlemen, I have received your money, and I trust I have spent it to your satisfaction.” Such an event gives an English merchant a justified sense of pride. It emboldens him, not without some reason, to compare himself to a Roman citizen. Indeed, a peer’s brother does not consider trade beneath him. When Lord Townshend was Minister of State, one of his brothers was content to be a merchant in the City. When the Earl of Oxford governed Great Britain, a younger brother was merely a commercial agent in Aleppo. He chose to live there, and there he died. This custom, though beginning to fade, seems monstrous to Germans, vainly puffed up with pride in their ancestry. They consider it morally impossible for an English peer’s son to be merely a rich and powerful citizen. After all, everyone in Germany is a prince. There have been thirty highnesses with the same name, whose entire inheritance consisted of their coats of arms and their pride.

In France the title of marquis is given gratis to any one who will accept of it; and whosoever arrives at Paris from the midst of the most remote provinces with money in his purse, and a name terminating in ac or ille, may strut about, and cry, “Such a man as I! A man of my rank and figure!” and may look down upon a trader with sovereign contempt; whilst the trader on the other side, by thus often hearing his profession treated so disdainfully, is fool enough to blush at it. However, I need not say which is most useful to a nation; a lord, powdered in the tip of the mode, who knows exactly at what o’clock the king rises and goes to bed, and who gives himself airs of grandeur and state, at the same time that he is acting the slave in the ante-chamber of a prime minister; or a merchant, who enriches his country, despatches orders from his counting-house to Surat and Grand Cairo, and contributes to the well-being of the world.

In France, the title of marquis is given free to anyone willing to accept it. Anyone may arrive in Paris from the remotest provinces with money and a name ending in ac or ille. With those qualifications, he may strut about and cry, “A man like me! A man of my rank and importance!” He may look down on a trader with utter contempt. Meanwhile, the trader hears his profession treated with such scorn so often that he is foolish enough to feel ashamed. Still, I need not say who is more useful to a nation. Is it a lord with his hair powdered in the latest fashion? He knows exactly when the king gets up and goes to bed. He puts on airs of grandeur while acting like a slave in a prime minister’s waiting room. Or is it a merchant who enriches his country? From his office, the merchant sends orders to Surat and Grand Cairo and contributes to the well-being of the world.