Since the fall of Carthage, no people had been powerful in commerce and arms at the same time, until Venice set the example. The Portuguese having passed the Cape of Good Hope, were, for some time, great lords on the coast of India, and even formidable in Europe. The United Provinces have only been warriors in spite of themselves, and it was not as united between themselves, but as united with England that they assisted to hold the balance of Europe at the commencement of the eighteenth century.

Carthage, Venice, and Amsterdam have been powerful; but they have acted like those people among us, who, having amassed money by trade, buy lordly estates. Neither Carthage, Venice, Holland, nor any people, have commenced by being warriors, and even conquerors, to finish by being merchants. The English only answer this description; they had fought a long time before they knew how to reckon. They did not know, when they gained the battles of Agincourt, Crécy, and Poitiers, that they were able to deal largely in corn, and make broadcloth, which would be of much more value to them than such victories. The knowledge of these arts alone has augmented, enriched, and strengthened the nation. It is only because the English have become merchants that London exceeds Paris in extent and number of citizens; that they can spread two hundred ships of war over the seas, and keep royal allies in pay.

When Louis XIV. made Italy tremble, and his armies, already masters of Savoy and Piedmont, were ready to take Turin, Prince Eugene was obliged to march to the skirts of Germany, to the succor of the duke of Savoy. Having no money, without which he could neither take nor defend towns, he had recourse to the English merchants. In half an hour they advanced him the sum of five millions of li............