stly, England was supplied
with Levant goods by the Venetian ships, which came annually to
Southampton. He adds, "the last argosser that came thus from Venice was
unfortunately lost near the isle of Wight, with a rich cargo, and many
passengers, in the year 1587." The Turkey Company carried on their concern
with so much spirit, that the queen publicly thanked them, with many
encouragements to go forward for the kingdom's sake: she particularly
commended them for the ships they then built of so great burden. The
commodities of Greece, Syria, Egypt, Persia, and India, were now brought
into England in greater abundance, and sold much cheaper than formerly, and
yet the returns of this trade are said to have been, at its commencement,
three to one.

It is not our object, nor would it be compatible with our limits, to trace
the progress of commerce minutely, in any of its branches, but rather to
point out, as it were, its shootings in various directions; and any special
causes which may have given vigour to its growth, or have retarded it. In
conformity with this plan, we shall only notice some of the more marked and
important eras of our Levant trade, prior to the commencement of the
eighteenth century. The trade to the Levant, in its infancy, like all other
trades, at a time when there was little capital and commercial knowledge,
required the formation of a company which should possess exclusive
privileges. Charters were granted to such a company for a term of years,
and renewed by Elizabeth. In 1605 king James gave a perpetual charter to
the Levant Company: the trade was carried on with encreasing vigour and
success: our woollen manufactures found a more extensive market: the
Venetians, who had for many years supplied Constantinople and other ports
of the Levant, were driven from their markets by the English, who could
afford to sell them cloths cheaper; and English ships began to be preferred
to those of Venice and other nations, for the carrying trade in the
Mediterranean. According to Sir W. Monson, England exported broad cloth,
tin, &c. enough to purchase all the wares we wanted in Turkey; and, in
particular, 300 great bales of Persian raw silk yearly: "whereas a balance
of money is paid by the other nations trading thither. Marseilles sends
yearly to Aleppo and Alexandria at least 500,000_l_. sterling, and little
or no wares. Venice sends about 400,000_l_. in money, and a great value in
wares besides: the Low Countries