stead of doing us hurt, they have proved a great and manifest blessing by improving some of our ancient arts and manufactures, and likewise by introducing various new ones. Others, however, think that in all there were settled in Great Britain and Ireland at least seventy thousand of those refugees....As many of those refugees were eminent merchants, and did undoubtedly bring along with them much money and effects, I have seen a computation on the lowest supposition of only fifty thousand of those people coming to Great Britain, and that, one with another, they brought sixty pounds each in money or effects; so that they added three millions sterling to the wealth of Britain." He adds, that even in King James the Second's reign large collections were made for the refugees; and that at the Revolution the yearly sum of 15,000l. was settled on such of them as either were persons of quality, or were, through age or other causes, unable to support themselves. To these French refugees, "England," he observes in conclusion, "owes the improvement of several of its manufactures of slight woollen stuffs,—of silk, linen, paper, glass, hats (the two last since brought to the utmost perfection by us). The silks called alamodes and lustrings were entirely owing to them; also brocades, satins, black and coloured mantuas, black paduasoys, ducapes, watered tabbies, black velvets; also watches, cutlery-ware, clocks, jacks, locks, surgeons' instruments, hardware, toys, &c."[1]
The reduction of the legal rate of interest to six per cent., which had been made by the Rump Parliament in 1651, was confirmed after the Restoration by the act 12 Car. II. c. 13, entitled, An Act for restraining the taking of excessive Usury. "The abatement of interest from ten in the hundred in former times," the preamble declares, "hath been found, by notable experience, beneficial to the advancement of trade and improvement of lands by good husbandry, with many other considerable advantages to this nation, especially the reducing of it to a nearer proportion with foreign states with whom we
- ↑ Chron. Deduct. of Commerce, ii. 569.
