143 TRADE AND MARKETS. 



purposes by the use of the mariner's compass, and had thus 

 taken part in the trade which had up to that time been almost 

 a monopoly of Scarborough, and had followed the trade with 

 such eagerness, that they could not get cargoes enough to 

 cover the expenses. But no traffic of this kind is so im- 

 portant as the control of the narrow seas, and this is entirely 

 in English hands as long as Dover and Calais are in good 

 military order, and the navy is made strong and workable. 



This mention of the mariner's compass is significant, being, 

 I believe, the earliest intimation of its employment in naviga- 

 tion. But the Libel of English Policy is very instructive, 

 because it gives a summary of European trade during the early 

 part of the fifteenth century, shows what was the origin of 

 many articles which will be found priced in the accompanying 

 volume, and recommends thus early, in the reputed interests of 

 commerce, such a Navigation Act as was ultimately passed by 

 Henry the Seventh, re-enacted by Cromwell, adopted at the 

 Restoration, and was a principal element in the mercantile 

 policy of England, till a wiser generation detected its inutility 

 and repealed it. 



The Libel of English Policy and the Liber Veritatum of 

 Gascoigne bear witness to the animosity which the English, 

 during the first half of the fifteenth century, felt towards 

 Flanders, which was now being gradually acquired, under 

 various titles derived from several marriages, by the house of 

 Burgundy. The Duke of Burgundy had broken on from 

 England, and his Flemish subjects had tried to surprise 

 Calais. This defection and this attempt had embittered the 

 two nations, though the mutual advantages derived from un- 

 interrupted trade were generally understood by all but political 

 and party factions. Hence when the unhappy misgovernment 

 and waste of Henry's reign came to a close, Edward attempted 

 to renew relations of amity with the Low Countries, and 

 might, had his energy and perseverance been equal to his 

 military genius, by an alliance with the Duke of Burgundy, 

 to whom his sister was married, have revived the glories of 



