INTRODUCTION. 



81 



in political economy by the experience of mankind, 

 that labor and industry alone constitute real wealth, 

 and that the nations most excelling in these, will al- 

 ways have the precious metals at their command. It 

 is a singular fact, now universally acknowledged, 

 that of all the nations of Europe, Spain has been the 

 least really and substantially benefitted by the disco- 

 very of the wonderful treasures of America; because 

 they have induced her to neglect those arts without 

 which every nation must be poor. 



It is impossible that any nation can be prosperous 

 where agriculture, commerce, and manufactures do 

 not flourish. These arts so essential to national pros- 

 perity, were contemned by the Spanish colonial sys- 

 tem. A jealous exclusion of all foreigners from these 

 regions, where like the cavern of Aladin, the wealth 

 of the universe was thought to be deposited, was con- 

 sidered necessary; and with this design, commerce 

 was incompatible. At the same time, with a view to 

 secure to the metropolis all the precious metals of 

 America, the Spanish government conceived the vi- 

 sionary project, of making the colonies, or rather con- 

 quests, dependent for all the necessaries and luxuries 

 of life. The policy was to confine the colonies to the 

 search of the precious metals, and the preparation of 

 a few valuable products peculiar to the new world; 

 and these were to centre in the metropolis. Agricul- 

 ture and manufactures were therefore prohibited, ex- 

 cepting where it was absolutely impossible to dis- 

 pense with them. It has already been remarked as a 

 singular circumstance, that the Spaniards in America 

 for nearly two centuries after its discovery, did little 

 more than occupy the ancient seats of the half civi- 



VOL. I. 11 



