onomy,
although certainly not emancipated from all the delusions of the age.

Nor are we to forget how very recently, and even dimly, the idea of
freedom in commerce has dawned upon nations, the freest of all in polity
and religion. Certainly the vices and shortcomings of the commercial
system now inaugurated by the republic may be justly charged in great
part to the epoch, while her vast share in the expanding and upward
movement which civilization, under the auspices of self-government;
self-help, political freedom, free thought, and unshackled science, was
then to undertake--never more perhaps to be permanently checked--must be
justly ascribed to herself.

It was considered accordingly that the existence of so many private
companies and copartnerships trading to the East was injurious to the
interests of commerce. Merchants arriving at the different Indian ports
would often find that their own countrymen had been too quick for them,
and that other fleets had got the wind out of their sails, that the
eastern markets had been stripped, and that prices had gone up to a
ruinous height, while on the other hand, in the Dutch cities, nutmegs and
cinnamon, brocades and indigo, were as plentiful as red herrings. It was
hardly to be expected at that day to find this very triumph of successful
traffic considered otherwise than as a grave misfortune, demanding
interference on the part of the only free Government then existing in the
world. That already free competition and individual enterprise, had made
such progress in enriching the Hollanders and the Javanese respectively
with a superfluity of useful or agreeable things, brought from the
farthest ends of the earth, seemed to the eyes of that day a condition of
things likely to end in a general catastrophe. With a simplicity, amazing
only to those who are inclined to be vain of a superior wisdom--not their
own but that of their wisest contemporaries--one of the chief reasons for
establishing the East India Company was stated to be the necessity of
providing against low prices of Oriental productions in Europe.

But national instinct is often wiser than what is supposed to be high
national statesmanship, and there can be no doubt that the true
foundation of the East India Company was the simple recognition of an
iron necessity. Every merchant in Holland knew full well that the
Portuguese and Spaniards could never be driven out of their commercial
strongholds under the equator