serves,—"It has never been popular to lay down that England was not a great loser by the French trade; but, in inquiries of this kind, truth should be more hunted after than popularity, and I shall endeavour to set this matter in as true a light as the nature of it will admit of, and which lies so obscure for want of knowing right of matter of fact. As to the importations and exportations of commodities between the respective kingdoms, so far is beyond contradiction, that all the while England flourished and grew rich by an extended traffic (which was by Queen Elizabeth's reign down to the year 1640 the two countries did not load one another with prohibitions of, or high duties upon, each other's product or manufactures, which that country would certainly have done that had found itself any considerable loser by their mutual dealings, which must have been seen and felt in so long a tract of time; so that during this space it is rather to be presumed both kingdoms reciprocally found their account by the commerce that was between them. During the afore-mentioned period the strength and power of France was not become formidable, and the prodigious growth of the House of Austria was what employed all our fears; but, as you know, about the year 1660, the face of affairs in Europe changed, the Spanish monarchy was declined, and France became the rising empire. And it rose so fast as to beget just apprehensions to England for our future safety. In the meanwhile several good patriots, perceiving the court then fatally running into French interests and measures, and finding it would be difficult to engage the people (newly come out of a civil war) to follow and join with them in more national councils by speculations merely political concerning the progress of the French arms and power, they thought the best course to awaken Englishmen was to alarm them about the danger they were in to lose their trade, and for this reason nothing was so common as to cry that England was undone by the prodigious overbalance the French had upon us." To prove this, divers estimates were drawn up and laid before the king, the committees of council, and the House of Commons. With regard to these
