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of the Mediterranean。 In the twelfth century her naval power was
destroyed by Pisa； Pisa in her turn fell under the attacks of
Genoa； and Genoa herself； after a conflict of a hundred years； was
compelled to succumb to Venice。
The fall of Venice herself appears to have indirectly resulted
from this narrow…minded policy。 To a league of Italian naval powers
it could not have been a difficult task； not merely to maintain and
uphold the preponderance of Italy in Greece； Asia Minor； the
Archipelago； and Egypt； but continually to extend and strengthen
it； or to curb the progress of the Turks on land and repress their
piracies at sea； while contesting with the Portuguese the passage
round the Cape of Good Hope。
As matters actually stood； however； Venice was not merely left
to her own resources； she found herself crippled by the external
attacks of her sister states and of the neighbonring European
powers。
It could not have proved a difficult task to a well…organised
league of Italian military powers to defend the independence of
Italy against the aggression of the great monarchies。 The attempt
to form such a league was actually made in 1526； but then not until
the moment of actual danger and only for temporary defence。 The
lukewarmness and treachery of the leaders and members of this
league were the cause of the subsequent subjugation of Milan and
the fall of the Tuscan Republic。 From that period must be dated the
downfall of the industry and commerce of Italy。（4*）
In her earlier as well as in her later history Venice aimed at
being a nation for herself alone。 So long as she had to deal only
with petty Italian powers or with decrepid Greece； she had no
difficulty in maintaining a supremacy in manufactures and commerce
through the countries bordering on the Mediterranean and Black
Seas。 As soon； however； as united and vigorous nations appeared on
the political stage； it became manifest at once that Venice was
merely a city and her aristocracy only a municipal one。 It is true
that she had conquered several islands and even extensive
provinces； but she ruled over them only as conquered territory； and
hence （according to the testimony of all historians） each conquest
increased her weakness instead of her power
At the same period the spirit within the Republic by which she
had grown great gradually died away。 The power and prosperity of
Venice the work of a patriotic and heroic aristocracy which had
sprung from an energetic and liberty…loving democracy…maintained
itself and increased so long as the freedom of democratic energy
lent it support； and that energy was guided by the patriotism； the
wisdom； and the heroic spirit of the aristocracy。 But in proportion
as the aristocracy became a despotic oligarchy； destructive of the
freedom and energies of the people； the roots of power and
prosperity died away； notwithstanding that their branches and
leading stem appeared still to flourish for some time longer。'（5*）
A nation which has fallen into slavery；' says Montesquieu；（6*）
'strives rather to retain what it possesses than to acquire more；
a free nation； on the contrary； strives rather to acquire than to
retain。' To this very true observation he might have added and
because anyone strives only to retain without acquiring he must
come to grief； for every nation which makes no forward progress
sinks lower and lower； and must ultimately fall。 Far from striving
to extend their commerce and to make new discoveries； the Venetians
never even conceived the idea of deriving benefit from the
discoveries made by other nations。 That they could be excluded from
the trade with the East Indies by the discovery of the new
commercial route thither； never occurred to them until they
actually experienced it。 What all the rest of the world perceived
they would not believe； and when they began to find out the
injurious results of the altered state of things； they strove to
maintain the old commercial route instead of seeking to participate
in the benefits of the new one； they endeavoured to maintain by
petty intrigues what could only be won by making wise use of the
altered circumstances by the spirit of enterprise and by hardihood。
And when they at length had lost what they had possessed； and the
wealth of the East and West indies was pouted into Cadiz and Lisbon
instead of into their own ports； like simpletons or spendthrifts
they turned their attention to alchemy。（7*）
In the times when the Republic grew and flourished； to be
inscribed in the Golden Book was regarded as a reward for
distinguished exertions in commerce； in industry； or in the civil
or military service of the State。 On that condition this honour was
open to foreigners； for example； to the most distinguished of the
silk manufacturers who had immigrated from Florence。（8*） But that
book was closed when men began to regard places of honour and State
salaries as the family inheritance of the patrician class。 At a
later period； when men recognised the necessity of giving new life
to the impoverished and enfeebled aristocracy； the book was
reopened。 But the chief title to inscription in it was no longer；
as in former times； to have rendered services to the State； but the
possession of wealth and noble birth。 At length the honour of being
inscribed in the Golden Book was so little esteemed； that it
remained open for a century with scarcely any additional names。
If we inquire of History what were the causes of the downfall
of this Republic and of its commerce； she replies that they
principally consisted in the folly； neglect； and cowardice of a
worn…out aristocracy； and in the apathy of a people who had sunk
into slavery。 The commerce and manufactures of Venice must have
declined； even if the new route round the Cape of Good Hope had
never been discovered。
The cause of it； as of the fall of all the other Italian
republics； is to be found in the absence of national unity； in the
domination of foreign powers； in priestly rule at home； and in the
rise of other greater； more powerful； and more united nationalities
in Europe。
If we carefully consider the commercial policy of Venice； we
see at a glance that that of modern commercial and manufacturing
nations is but a copy of that of Venice； only on an enlarged （i。e。
a national） scale。 By navigation laws and customs duties in each
case native vessels and native manufactures were protected against
those of foreigners； and the maxim thus early held good that it was
sound policy to import raw materials from