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the Hansards； just as Portugal became the vineyard of England； and
has remained so till our days； owing to the stratagem of a cunning
diplomatist。 Indeed； it is more than probable that without her
commercial policy Eng1and would never have attained to such a large
measure of municipal and individual freedom as she now possesses；
for such freedom is the daughter of industry and of wealth。
In view of such historical considerations； how has it happened
that Adam Smith has never attempted to follow the history of the
industrial and commercial rivalry between the Hanseatic League and
England from its origin until its close？ Yet some passages in his
work show clearly that he was not unacquainted with the causes of
the fall of the League and its results。 'A merchant；' he says； 'is
not necessarily the citizen of any particular country。 It is in a
great measure indifferent to him from what place he carries on his
trade； and a very trifling disgust will make him remove his
capital； and together with it all the industry which it supports；
from one country to another。 No part of it can be said to belong to
any particular country till it has been spread； as it were； over
the face of that country； either in buildings or in the lasting
improvement of lands。 No vestige now remains of the great wealth
said to have been possessed by the greater part of the Hanse Towns
except in the obscure histories of the thirteenth and fourteenth
centuries。 it is even uncertain where some of them were situated；
or to what towns in Europe the Latin names given to some of them
belong。'（17*）
How strange that Adam Smith； having such a clear insight into
the secondary causes of the downfall of the Hanseatic League； did
not feel himself compelled to examine into its primary causes！ For
this purpose it would not have been at all necessary to have
ascertained the sites where the fallen cities had stood； or to
which cities belonged the Latin names in the obscure chronicles。 He
need not even have consulted those chronicles at all。 His own
countrymen； Anderson； Macpherson； King； and Hume could have
afforded him the necessary explanation。
How； therefore； and for what reason could such a profound
inquirer permit himself to abstain from an investigation at once so
interesting and so fruitful in results？ We can see no other reason
than this that it would have led to conclusions which would have
tended but little to support his principle of absolute free trade。
He would infallibly have been confronted with the fact that after
free commercial intercourse with the Hansards had raised English
agriculture from a state of barbarism； the protective commercial
policy adopted by the English nation at the expense of the
Hansards； the Belgians； and the Dutch helped England to attain to
manufacturing supremacy； and that from the latter； aided by her
Navigation Acts； arose her commercial supremacy。
These facts； it would appear； Adam Smith was not willing to
know or to acknowledge； for indeed they belong to the category of
those inconvenient facts of which J。B。 Say observes that they would
have proved very adverse to his system。
NOTES：
1。 Anderson； Origins of Commerce； pt。 I； p。 46。
2。 Wealth of Nations； Book IV； ch。 ii。
3。 Hume； History of England； Part IV； ch。 xxi。
4。 The revenues of the kings of England were derived at that time
more from export duties than from import duties。 Freedom of export
and duties on imports （viz。 of manufactures） betoken at once an
advanced state of industry and an enlightened State administration。
The governments and countries of the North stood at about the same
stage of culture and statemanship as the Sublime Porte does in our
day。 The Sultan has； notably； only recently concluded commercial
treaties； by which he engages not to tax exports of raw materials
and manufactures higher than fourteen per cent but imports not
higher than five per cent。 And there accordingly that system of
finance which professes to regard revenue as its chief object
continues in full operation。 Those statesmen and public writers who
follow or advocate that system ought to betake themselves to
Turkey； there they might really stand at the head of the times。
5。 The Hansards were formerly termed 'Easterlings' or Eastern
merchants； in England； in contradistinction to those of the West；
or the Belgians and Dutch。 From this term is derived 'sterling' or
'pound sterling'； an abbreviation of the word 'Easterlings' because
formerly all the coin in circulation in England was that of the
Hanseatic League。
6。 Hume； History of England； ch。 xxxv。
7。 M。 I。 Sartorius； Geschichte der Hansa。
8。 II Edward III； cap。 5。
9。 Rymer's Foedera； p。 496。 De Witte； Interest of Holland； p。 45。
10。 Hume； History of England； chap。 xxv。
11。 Edward IV； cap。 iv。 The preamble to this Act is so
characteristic that we cannot refrain from quoting it verbatim。
'Whereas to the said Parliament； by the artificers men and
women inhabitant and resident in the city of London and in other
cities； towns； boroughs and villages within this realm and Wales；
it has been piteously shewed and complained； how that all they in
general and every of them he greatly impoverished and much injured
and prejudiced of their worldly increase and living； by the great
multitude of divers chaffers and wares pertaining to their
mysteries and occupations； being fully wrought and ready made to
sale； as well by the hand of strangers being the king's enemies as
others； brought into this realm and Wales from beyond the sea； as
well by merchant strangers as denizens or other persons； whereof
the greatest part is deceitful and nothing worth in regard of any
man's occupation or profits； by occasion whereof the said
artificers cannot live by their mysteries and occupations； as they
used to do in times past； but divers of them as well
householders as hirelings and other servants and apprentices in
great number be at this day unoccupied； and do hardly live； in
great idleness； poverty and ruin； whereby many inconveniences have
grown before this time； and hereafter more are like to come （which
God defend）； if due remedy be not in their behalf provided。'
12。 Hume； chap。 xxvi。
13。 Hume； chap。 xxxv； also Sir J。 Hayward； Life and Reign of Edward
VI。
14。 Hume； chap。 xxxvii； Heylyn。
15。 Campbell's Lives of the Admirals； vol。 i； p。 386。
16。 Our author would appear to have forgotten； o