COMMERCE. 481 



bringing the nations acquainted with each other, it has greatly 

 promoted the advancement of knowledge, and the civilization of our 

 race. 



Commerce must have originated as soon as men had a superfluity 

 of any commodities, and voluntarily exchanged them for others. 

 Thus, we read of the Ishmaelites carrying spices, balm, and myrrh, 

 from Gilead to Egypt, as early as 1729 B. C. ; and the transporta- 

 tion of goods by caravans, was doubtless still more ancient ; the 

 merchant accompanying his goods, to protect them. The Phoeni- 

 cians, having great facilities for navigation, and much skill in that 

 art, became the first great commercial nation ; and so continued, till 

 the conquest of Tyre, by Alexander, 332 B. C. The use of gold 

 and silver, as a circulating medium, was of great antiquity : but these 

 metals were first coined into money, by Phidon, king of Argos, about 

 870 B. C. Greece was never a commercial nation ; but Rome 

 acquired an extensive commerce, by rendering the conquered nations 

 tributary to its wants; till the removal of the empire to Constantinople 

 made that city the great emporium of the civilized world. 



In the dark ages, Commerce declined; owing partly to the defi- 

 ciency of productions, and partly to the insecurity of property. 

 This latter circumstance gave rise to the famous Hanseatic League, 

 of cities confederated for mutual protection. This league, in the 

 year 1200, comprised no fewer than 72 cities, in Germany, Denmark, 

 England, Holland, France, Spain, Portugal, and Italy : and it contri- 

 buted much to the revival of trade. At that period, Venice and Genoa 

 were the chief trading states ; and they carried on the overland com- 

 merce with the Indies, until the discovery of the southern passage to 

 those regions, in 1498. This event gave that trade chiefly to the 

 Portuguese : but it was wrested from them by the Spanish, French, 

 and English ; and secured chiefly to the latter by their conquests in 

 Hindoostan. The commerce of England has grown with her manu- 

 factures and naval triumphs ; chiefly since the days of Queen Eliza- 

 beth. That of the United States has also increased with great rapi- 

 dity ; and now extends to every habitable and accessible region of 

 the globe. 



We shall offer some farther remarks on this branch, under the 

 heads of Principles of Commerce ; Sources of Commerce ; Cam- 

 bistry, including weights and measures ; and Book-keeping. 



1 . The Principles of Commerce, are the data which should 

 govern the merchant, in the management of his business. His first 

 great object, after making business arrangements, would seem to be, 

 to discover what line of trade, or what class of articles, would afford 

 him the greatest profit ; having reference to the comparative safety, 

 as well as the nominal proceeds of his investments. His next step 

 would be to ascertain where the articles sought can be procured the 

 cheapest, and where they will bring the highest price. Or, having a 

 certain article in his possession, the problem may be to find where it 

 can be disposed of to the greatest advantage, receiving any saleable 

 articles in exchange. The article transported, is generally worth 

 more in the place where it is sold, than the merchant receives in re- 

 turn ; as few purchases are made except for the sake of gain ; and 

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