AN INQUIRY, 



ETC. 



CHAPTER XV. 



On the origin of the trade of the Lombards and goldsmiths ; 

 and on the influence of their operations on coined gold and 

 silver. 



THE naval power of England, if strictly speaking 

 it did not commence with the reign of Henry VII., 

 yet during that reign made a greater progress than 

 at any former period. The foreign trade of the 

 country, and especially the carrying on of that 

 trade by English instead of foreign ships, kept 

 pace with, or rather advanced before, the military 

 marinepower. The Hanse Towns, the Netherlands, 

 Spain and Portugal, and the free States of Italy 

 were partakers of this increase of commerce, and 

 with England and France all united in forming 

 an extensive body, with interests which, though 

 united in their principal objects, were often op- 

 posed in detail. The mercantile people thus 

 composed a kind of voluntary corporation through 



VOL. II. B 



