As the first three centuries of this extraordinary and unexampled association, were employed in protecting commerce and protecting trade, all those concerned in its success were ambitious of being admitted members, or received as friends:  but when they began to assume the pride and dignity of sovereigns, and to meddle in political quarrels, to become irascible and unjust, their numbers diminished; and of those members that remained, the wealth and prosperity gradually began to fall.

The Dutch, by great industry, by a strict attention to their interest, and by keeping down pride, continued to increase in wealth, while the Hans Towns and Flanders were considerably advanced in their decline.

While this was happening on the northern shores of the continent of Europe; to which and to Italy trade had been nearly confined, Spain and Portugal, France and England, began to see the advantages of manufactures and commerce, and to encourage them.  If money was wanted to be borrowed, it was either in Italy or Flanders, or in some of the Hans Towns, that it could alone be found; so, that though the monarchs of those days rather despised commerce, yet, as a means merely of procuring what they found so indispensably necessary, they began to think of encouraging it.

Spain had taken possession of the Canary Islands, and Portugal had made conquests on the coast of Africa, and seized the island of

—–­ {44} In 1411 they were compelled, by Henry iv. of England, to give him satisfaction for some of the injuries done. -=-

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Madeira in the early part of the fifteenth century, and by an attention to naval affairs, and setting a value on possessions beyond seas, laid a foundation for those new discoveries which have totally changed the face of the world.

In Europe then, at the end of the fifteenth century, the nations were nearly in the following state.  The Italians, possessed of the whole trade to India, were wealthy but feeble.  They had more art, policy, and money, than other nations; but they had of themselves scarcely any effective power, except a little exercised by the Venetians and Genoese at sea.

The Hanse Towns, extending over the northern part of Europe and Flanders, which had become wealthy and powerful by their own industry, and a participation of the trade to India with the Italians, (though at second hand,) were on the decline, through pride and luxury.

Holland alone was advancing fast towards wealth, by industry, and an attention to commerce and economy.  Spain and Portugal had turned their attention to new discoveries; and France and England were endeavouring to follow, though at a great distance, those who, in this career, had gone before them.

Of the places that enjoyed wealth, all were declining in power from the abuse of it; and Spain, which alone had possessed much power without wealth, was abusing it, by banishing industry from Flanders, and the Moors from their own country.  In one case, there was wealth without power; in the other, there was power without wealth; and, in both, mistaken views and unwise conduct had laid the foundation for decline.