Vol. IV, pp. 1-18 March 26, i892 



THE 



NATIONAL GEOGRAPHIC MAGAZINE 



THE EVC^LUTION OF COMMERCE. 



Annual Address by the President, 

 \ HON GARDINER G. HUBBARD. 



(Presented to the Society January 15, 1892.) 



For over three thousand years the great highway for commerce 

 has been from India by the Persian gulf and the Euphrates or 

 by the Red sea to the Mediterranean, and thence through the 

 Mediterranean by Gibraltar to western and northern Europe, and 

 in our day thence to America. 



Along this route cities and nations have sprung up, increased 

 in Avealth and power, and passed away, giving place to other 

 cities and nations further westward. These nations have been 

 great carriers and distributors of minerals and goods, as well as 

 capitalists and bankers, or carriers, bankers and manufacturers ; 

 in either case controlling the commerce of the Avorld. This con- 

 trol has never for any long period been held by the same race, 

 but has passed from one nation to another, always from the east 

 toward the west. 



The earliest highway of commerce was from India through the 

 Persian gulf, up the Euphrates to the Mediterranean ; and carpets 

 and precious stones were then as now carried over this route. 

 Ex]3lorations and surveys for a railroad have been recently made 

 along this " our future highway to India." Caravans brought 

 spices from Arabia and ricli stuffs from Babylon and Nineveh to 



1— Nat. Geog. Ma«., yor,. IV, 1802. (1) 



