1832.] 
COMMERCIAL RIVALRY.. 
369 
and eighty, and exhibited to the wondering eyes of the spectators, 
the first ship in England, and the second in the world, that had 
circumnavigated the globe. An ardour for maritime exploits per- 
vaded the highest ranks. The Earls of Cumberland and Essex, 
Sir R. Grenville and Raleigh, Gilbert and Dudley, prepared 
squadrons at their own expense, and sailed in them to different 
parts of the world. 
In fifteen hundred and eighty-six, followed the celebrated voyage 
of Cavendish, which, like that of Drake, was eminently suc- 
cessful. On the day of his arrival, he wrote to the chamberlain 
of Elizabeth as follows : — " I navigated to the Islands of Philip- 
pines, hard upon the coast of China, of which country I have 
brought such intelligence as hath not been heard of in these parts • 
a country, the stateliness and riches of which I fear to make re- 
port of, lest I should not be credited. I sailed along the islands 
of Molucca, where, among some of the heathen people, I was 
well entreated, and where our countrymen may have trade as free 
as the Portugals, if they themselves will." 
The tide of maritime adventure, so much augmented by the 
return of these splendid voyages, now flowed naturally and steadily 
to the east. ' 
In .fifteen hundred and eighty-nine, "divers merchants" pe-- 
titioned the lords of council for permission to send ships on a 
voyage to India ; which, in fifteen hundred and ninety-one, was? 
followed by another expedition, set on foot, not so much with the 
view of trade, as to harass the Portuguese ; a species of com- 
mercial enterprise which our worthy ancestors appear to have un- 
derstood from a very early period of their history. 
The Dutch at this time ventured boldly, and sent vessels by 
the East Cape to India. This spurred ori the English, and in 
fifteen hundred and ninety-nine, an association was formed, and 
thirty thousand pounds subscribed. Pohtical relations with Spain 
greatly retarded, but could not defeat the commercial spirit of the 
people ; so that in sixteen hundred, a charter of privileges was- 
obtained, vessels were again prepared for the east, and thus was- 
laid the foundation of a power so anomalous, and which, in the 
hands of the East India Company, has exercised so much influ- 
ence in distributing the wealth of the world ! By repeated efforts, 
sharp .and hazardous conflicts with her more powerful competitors^ 
A a 
