e end of the volume.

The spirit and judgment of the house of commons appeared, not only in
defence of their own privileges, but also in their endeavor, though
at this time in vain, to free trade from those shackles which the high
exerted prerogative, and even, in this respect, the ill-judged tyranny
of Elizabeth, had imposed upon it.

James had already, of his own accord, called in and annulled all
the numerous patents for monopolies which had been granted by his
predecessor, and which extremely fettered every species of domestic
industry: but the exclusive companies still remained; another species of
monopoly, by which almost all foreign trade, except that to France, was
brought into the hands of a few rapacious engrossers, and all prospect
of future improvement in commerce was forever sacrificed to a
little temporary advantage of the sovereign. These companies, though
arbitrarily erected, had carried their privileges so far, that almost
all the commerce of England was centred in London; and it appears that
the customs of that port amounted to one hundred and ten thousand pounds
a year, while those of all the kingdom beside yielded only seventeen
thousand.[*] Nay, the whole trade of London was confined to about
two hundred citizens,[**] who were easily enabled, by combining among
themselves, to fix whatever price they pleased both to the exports and
imports of the nation. The committee appointed to consider this enormous
grievance, one of the greatest which we read of in English story, insist
on it as a fact well known and avowed, however contrary to present
received opinion, that shipping and seamen had insensibly decayed during
all the preceding reign.[***] And though nothing be more common than
complaints of the decay of trade, even during the most flourishing
periods, yet is this a consequence which might naturally result from
such arbitrary establishments, at a time when the commerce of all the
other nations of Europe, except that of Scotland, enjoyed full liberty
and indulgence.

While the commons were thus attempting to give liberty to the trading
part of the nation, they also endeavored to free the landed property
from the burden of wardships,[****] and to remove those remains of the
feudal tenures under which the nation still labored. A just regard was
shown to the crown in the conduct of this affair; nor was the remedy
sought for considered as a matter of right, but merely of grace and
favor. The profit w