244 SHIP BUILDING. 



and ambitioD, have eventually contributed but little tostiinu* 

 late their industry. It has been remarked of Spain, that the 

 gold and silver of America, instead of animating the country 

 and promoting industry, instead of giving life and vigour to 

 the whole community, by the increase of arts, of manufac- 

 tures, and of commerce, had an opposite effect, and produced 

 in the event weakness, poverty, and depopulation. The 

 wealth which proceeds from industry resembles the copious 

 yet tranquil stream, which passes silent, and almost invisible, 

 enriches the whole extent of country through which it flows ; 

 but the treasures of the new world, like a swelling torrent, 

 were seen, heard, felt, and admired ; yet their first opera- 

 tion was to desolate and lay waste the spot on which they 

 fell. The shock was sudden ; the contrast was too great. 

 Spain overflowed with specie, whilst other nations were 

 comparatively poor in the extreme. The price of labour, 

 of provisions^ and of manufactures, bore proportion to the 

 quantity of circulating cash. The consequence is obvious ; 

 in the poor countries industry advanced; in the more 

 wealthy it declined. 



Questions. — 1, What is probable respecting gold and silver on 

 their first introduction ? 2. Why were gold and silver coined .'' 3. To 

 what is the public stamp in time reduced ? 4. What is the advantage 

 of paper-money ? 5. How did men estimate the value of their proper- 

 ty before the invention of money ? 6. How is capital estimated in 

 civilized countries ? 7. What is said of an abundance of money .' 8. 

 What baa been remarked of Spain ? 



LESSON 110. 



Ship-building and Navigation. 



No art or profession has appeared more astonishing and 

 marvellous than that of navigation, in the state in which it 

 is at present. This cannot be made more evident than by 

 taking a retrospective view of the tottering, inartificial craft 

 to which navigation owes its origin : and by comparing them 

 with the noble and majestic edifices now in use, containing 

 a thousand men, with thei'r provisions, drink, furniture, 

 wearing-apparel, and other necessaries for many months, 

 besides a hundred pieces of heavy ordnance, and carrying 



