The greater part of the increase in commerce since 1770 has occurred within the last fifteen years, and the annual gain now is greater than the total traffic in the middle of the last century, and tenfold greater than the traffic at any time before the discovery of America.
The advance in the other nations of Europe generally has not been so rapid as in England, yet it is remarkable. The exports of France rose from $400,000,000 in 1840, to $700,000,000 in 1869; those of Austria from $40,000,000 in 1842, to $160,000,000 in 1869; and those of Russia from $50,000,000 in 1851, to $125,000,000 in 1869. In the United States the progress has been more rapid than in England. The total aggregate value of the exports and imports (excluding the precious metals) of the fifteen leading commercial nations was $6,000,000,000 in 1860, and $9,500,000,000 in 1870. These figures are astounding, and nothing but figures can give us a correct idea of the overwhelming magnitude of the present, and the relative insignificance of the past. And if now commerce gains nine per cent, annually, whereas before the steam age it did not increase one per cent., shall we not exalt the age of steam, which has brought the improvement? It is to be observed that the forces which have caused the wondrous development, instead of having reached the culmination of their influence, are only beginning to get full swing, and that the new commerce has not yet had time to exert its power. Statesmen and people do not yet comprehend the vastness of the commercial interests, nor have the merchants and capitalists yet learned how to combine to prevent the legislative follies of past ages. Commerce is destined to be the great bond of peace between nations, and they will be compelled soon to organize a league to administer international justice, and to protect the vast interests involved in their trade. They must adopt new rules for their new circumstances. The policy which might have been beneficial in a national point of view in 1700 would be foolish now. "Commerce," as John Stuart Mill said, "first taught nations to see with good-will the wealth and prosperity of one another. Before, the patriot, unless sufficiently advanced in culture to feel the world his country, wished all countries weak and poor and ill-governed, but his own." Now, he understands that the greater their wealth and prosperity, the greater also will be that of his nation; in the same manner as the individual merchant or mechanic thrives better with rich than with poor neighbors and customers. But we are told that the spirit of our age is bad; it is too materialistic; it is hostile to æsthetical and spiritual influences; it exalts money and machinery. The meaning of this complaint is that its authors have not been properly educated, and they find that the world is not in sympathy with them. They measure it by their ignorance and prejudice, and conclude that it is wrong. In all ages such lamentations have been heard about the progress of the most beneficent changes. The discredit into which many of the old metaphysicians have fallen is
