British arms at sea as well as on land to the first place in the civilised world. St. John was no sooner despatched by the parliament to the Hague as ambassador, than, perceiving the immense advantage which Holland drew from being the great carriers of Europe, he drew and got passed the celebrated Navigation Act, which, providing that no produce of Africa, Asia, or America, nor of any English colony should be imported into England except in English ships, and that the manufactures or merchandise of no country in Europe should be imported except in English ships, or the ships of the nation where they were produced, at once transferred an enormous amount of maritime business to this country.
Sir Walter Raleigh, in a treatise on the comparative commerce of England and Holland, endeavoured to draw the attention of James I. to the immense advantages that the Dutch were drawing from our neglect. He showed that whenever there was a time of scarcity in England, instead of sending out our ships and supplying ourselves, we allowed the Dutch to pour in goods and reap the advantage of the high prices; and he declared that in a year and a half they had taken from Bristol, Southampton, and Exeter alone, two hundred thousand pounds, which over merchants might as well have had. He reminded the king that the most productive fisheries in the world were on the British coasts, yet that the Dutch and people of the Hanse Towns came and supplied all Europe with their fish to the amount of two million pounds annually, whilst the English could scarcely be said to have any trade at all in it. The Dutch, he said, sent yearly a thousand ships laden with wine and salt, obtained in France and Spain, to the north of Europe, whilst we, with superior advantages, sent none. He pointed out equally stinking facts of their enterprise in the timber trade, having no timber themselves; that our trade with Russia, which used to employ a large number of ships, had fallen off to almost nothing, whilst that of the Dutch had marvellously increased. What, he observed, was still more lamentable—we allowed them to draw the chief profit and credit even from our own manufactures, for we sent our woollen goods, to the amount of eighty thousand pieces, abroad undyed, and the Dutch and others dyed them, and reshipped them to Spain, Portugal, and other countries as Flemish baizes, besides netting a profit of four hundred thousand pounds annually at our expense. Had James listened to the wise suggestions of Raleigh, instead of destroying him, and listening to such silly, base minions as Rochester and Buckingham, our commerce would have shown a very different aspect.
It is true that some years after James endeavoured to secure the profit pointed out by Raleigh from dyed cloths; but instead of first encouraging the dyeing of such cloths here, so as to enable the merchants to carry them to the markets in the South on equal or superior terms to the Dutch, he suddenly passed an act prohibiting the export of any undyed cloths. This the Dutch met by an act prohibiting the import of any dyed cloths into Holland; and the English not producing an equal dye to the Dutch, thus lost both markets, to the great confusion of trade; and this mischief was only gradually overcome by our merchants beginning to dye their yarn, so as to have no undyed cloth to export, and by improving their dyes.
During the reign of James commercial enterprise showed itself in the exertions of various chartered companies trading to distant parts of the world. The East India Company was established in the reign of Elizabeth, the first charter being granted by her in 1600. James was wise enough to renew it, and it went on with various success, ultimately so little in his time, that at his death it was still a doubtful speculation; but under such a monarch it could not hope for real encouragement. In its very commencement he granted a charter to a rival company to trade to China, Japan, and other countries in the Indian seas, in direct violation of the East India Company's charter, which so disgusted the company, as nearly to have caused them to relinquish their aim. In 1613 they obtained a charter from the Great Mogul to establish a factory at Surat, and the same year they obtained a similar charter from the emperor of Japan. In 1615 Sir Thomas Roe went as ambassador from England to the Great Mogul, and resided at his court for four years. By this time the company had extensively spread its settlements. It had factories at Acheen, Zambee, and Tekoa, in Sumatra; at Surat, Amadavad, Agra, Azmere, and Burampore, in the Mogul's territories; at Firando, in Japan; at Bantam, Batavia, and Japara, in Java; and others in Borneo, the Banda Islos, Malacca, and Siam, in the Celebes; and at Masulipatam and Petapoli, on the Coromandel coast; and at Calicut, the original settlement of the Portuguese on the coast of Malabar. Their affiars were, in fact, extremely flourishing. and their stock sold at 203 per cent.; but this prosperity awoke the jealousy of the Dutch, who carried on a most profitable trade with Java and the Spice Islands, and in spite of a treaty concluded betwixt the two nations in 1619, the Dutch governor-general attacked and took from the company the islands of Lantore and Pido Rangoon. This was only the beginning of their envious malice, for in 1623 they committed the notorious massacre of the English company at Amboyna, and expelled the English out of all the Spice Islands. Had this occurred in Cromwell's days, they would soon have paid a severe retribution; but James was just then anxious to secure the aid of the Dutch in restoring his son-in-law, the count palatine, and these atrocities were quietly smoothed over and left unavenged. The consequence was, that the affairs of the company fell into a most depressed condition, and though in 1616, when their stock was worth 200 per cent., they had raised a new stock of one million six hundred and twenty-nine thousand and forty pounds, which was taken by nine bundled and fifty-four individuals, principally of the higher aristocracy, at the close of James's reign the stock had fallen half its value.
Charles did not prove a more far-sighted or just patron of the India Company than his father. In 1031 they managed to raise a new stock of four hundred and twenty thousand pounds, but whilst they were struggling with the hostilities of their rivals, the Dutch and Portuguese, the king perpetrated precisely the same injury on them that his father had done, by granting a charter to another company, which embroiled them with the Mogul and the Chinese, causing the English to be entirely expelled from China, and injuring the India Com-
