148 TRADE AND MARKETS. 



more to raising the power of France than this scandalous war, 

 the issue of which was the great position obtained by France 

 at the treaty of Nimeguen in 1679. The advantages obtained 

 by France in this war were the real causes of the wars of 1689 

 and 1 702, and indeed of much of the warfare of the eight- 

 eenth century, for the doctrine of the balance of power was 

 not easily separable from that eagerness after trade monopolies 

 which was the strongest motive for political and military 

 action at the time. 



In the year 1676, Child, answering an attack made on the 

 stability of the East India Company, which had latterly 

 obtained another charter from the king, states that the exports 

 of the Company amounted to 430,000, and that the imports 

 were sold at double this amount ; and that their licences to 

 private traders give further exports of about 150,000, and 

 imports to the value of 300,000. He concludes that the 

 annual addition to the capital of the country by this trade is 

 not less than half a million. It is certain that during this 

 time England had a very lucrative trade with India, though if 

 what we are told is true, not a little of the Company's profits 

 was spent in bribing members of Parliament l . At this time 

 the price of the stock was 300. 



The revocation of the Edict of Nantes led to a great 

 emigration of French Huguenots who were, like the Non- 

 conformists of the English towns, the most prosperous 

 merchants and manufacturers, and the most skilful artisans in 

 France into Holland, Switzerland, Prussia, and England. 

 These men materially benefited the commerce and manu- 

 factures of the countries in which they settled, and in the wars 

 which followed were some of the most dangerous and im- 

 placable enemies which Louis had. The sympathy of the 

 English with these exiles was great, and to the infinite 

 disgust of James, large collections were made in parish 

 churches for their relief. It is said that 50,000 settled in 



1 There was a standing quarrel during the whole of this century between the 

 East India and the Turkey Companies. 



