A.D. 1689
—1776.
of paper
money in
Scotland.
156 PARLIAMENTARY COLBERTISM
to’ take advantage of facilities for accumulating and for
obtaining the use of capital; these appear to have been
the chief agency in bringing about the development of the
Scotch fisheries—to the practical exclusion of the Dutch
XIV. PARLIAMENTARY REGULATION OF
COMMERCIAL DEVELOPMENT.
Burleigh’s 290. A consideration of the aims, which statesmen set
ay before themselves after the Revolution, in concluding com-
ih cements mercial treaties with foreign powers and regulating intercourse
by requ- . between different parts of the empire, brings out the fact that
ceased tobe England had already entered on a new phase of economic life.
He: The main lines of Burleigh’s scheme for the promotion of power
were being maintained, but marked differences underlay the
apparent continuity of policy. Burleigh had been primarily
concerned in developing national resources of every kind;
the system of well-ordered commerce had been an appropriate
means for securing the steady progress of trade, pari passu
with the improvement of lands and manufactures. During
the seventeenth century, however, the country had outgrown
the facilities which could be offered by the machinery of
regulated trade. The statesmen of the Revolution era were
clear that, in so far as any branch of commerce had a
healthful effect upon industry, it should be pushed as rapidly
and energetically as possible.
the Tories There was indeed, as Professor Ashley has pointed out?,
i a remarkable body of men who took an even larger view of
aan’ the policy which should be pursued towards trade. They
of would have been content to impose preferential duties, so
all kinds. as to favour our own industries especially, but they were
not prepared to stigmatise any branch of trade as injurious
to the realm. They argued that the very existence of a
trade showed that it was directly advantageous to some
classes of consumers, and they were doubtful whether this
benefit was altogether discounted by possible injury to the
productive energy of the country. At all events, it was clear
1 Report, 1826-7, v1. 507 (Dunsmure), printed pag. 131.
t Surveys, Historic and Economic, 268.
