C05IMERCE. 
inercial arrangements more liberai and 
beneficial. 
Commercial interconrse was one of the 
earliest effects of the progress of civiliza- 
tion, but it was not till the gradual im- 
pjovement of navigation had lessened the 
dangers of long voyages, that distant na- 
tions were enabled to exchange their sur- 
plus pioduce, and to einoy the conveni- 
encies and luxuries of foreign climes. The 
Egyptians, at a very early period, opened 
a trade with the western coast of the con- 
taient of India ; but the Phenicians and 
the Carthaginians carried commerce to a 
much greater extent, the trading voyages 
of the latter extending not only to all the 
coasts of Spain and Gaul, but even to Bri- 
tain. The commerce of the Greeks was 
confined to the ports of the Mediterranean, 
till the foundation of Alexandria, wdiich 
soon acquired the greater part of the trade 
with India, and became for a time the first 
commercial city in the world. The ex- 
tent of the Roman empire, and the spirit of 
its government, gave facility and security 
to commercial transactions, and rendered 
Rome the metropolis of the commercial 
world, till the fourth century, when the seat 
of empire was removed to , Constantinople 
which was thus made the emporium of 
commerce. Here it continued to flourish, 
even when the devastations of the Goths 
and Vandals had annihilated commercial 
intercourse in almost eveiy other part of 
Europe, and a considerable trade with In- 
dia was kept up, although after the con- 
quest of Egypt by the Arabians it could 
only be carried on by a very tedious and 
difficult channel of conveyance. 
The inhabitants of Italy who fled to the 
islands of the Adriatic, and founded the city 
of Venice, were led by theirsituation to the 
pursuit of commerce, which they carried on 
with success, and in no very great length of 
time became almost the sole carriers of the 
East Indian merchandize brought to Alex- 
andria, which their vessels distributed to all 
parts of Europe. The example of Venice 
led to the cultivation of commerce at 
Genoa, Florence, Pisa, and other cities of 
Italy, which for several centuries were the 
only places in Europe that carried on any 
considerable foreign trade. The insecurity 
of property during the unsettled state of 
Em ope which succeeded the destruction of 
the western empire, caused an almost gene- 
ral suspension of commercial intercourse, 
till the time of Charlemagne, whose exten- 
stve empire facilitated correspondence be- 
tween different parts of Elirope which had 
before little comieetioi;, while the esta- 
blishment of Christianity in Gennany con- 
tnhuted to the increase of cities and towns 
rn the north of Europe, and introduced an 
acquaintance with the productions of more 
(Southern climates. 
The encouragement given to manufiic- 
tures in Flanders, and their consequent ira- 
proveineut, drew the merchants of other 
countries to the fairs and markets esta- 
blished at Bruges, Courtray, and many 
other towns; which thus became of consi- 
dei able importance, while a taste for the 
pioductions of the East w^as spreading 
thi-ough almost every part of Europe, ac- 
quired in Palestine during the crusades, 
and contributing very materially to the en- 
couragement of foreign trade. The pro- 
ductions of India were however obtained 
at great risk and expense, till the improve- 
ment of navigation by the invention of the 
mariner’s compass, and the subsequent dis- 
covciy of a passage to India by the Cape 
of Good Hope. This was soon followed 
by the still more important discovery of the 
West Indies, and the continent of America 
events which filled Europe with astonish- 
ment, and opened a vast field for specula- 
tive and commercial enterprize. Spain and 
Portugal attempted to monopolize the be- 
nefits of the discovery of America, hut their 
injudicious policy has rendered them little 
niore than the channels tlirough which the 
profits ot this trade have been conveyed to 
more industrious states. 
Tlie establishment of English colonies in 
North America, the improvement of manu- 
factures in Flanders, Holland, France, and 
England, the encoui’agemeiit of navigation, 
the institution of public banks, and the 
more general practice of ipsarance, favoured 
the extension of commerce, supplied it 
with new materials, and rendered it more 
secure. It has been protected in all the 
states of Europe, by numerous laws and 
edicts, it has been encouraged by bounties 
and privileges, and commercial treaties 
have been formed between different na- 
tions for removing impediments and facili, 
tating a mutually beneficial intercourse. 
The commerce of Europe has thus ex- 
panded in a degree of which former times 
could have no idea, and, wliile it has nmlti- 
jilied the luxuries and refinements of so- 
ciety, it has contributed essentially to the 
advancement of naval power, and been 
rendered by most states a fruitful source of 
public revenue. 
