OF ENGLISH COMMERCE AND INDUSTRY Langford L. PRICE FELLOW OF ORIEL COLLEGE, OXFORD AUTHOR OF A SHORT HISTORY OF POLITICAL ECONOMY IN ENGLAND FROM ADAM SMITH LONDON EDWARD ARNOLD, 37 BEDFORD STREET, STRAND SM 4/2/57 PREFACE. THE scope of this Short History is explained in the Introductory Chapter. Its object is to give a brief account of the commercial and industrial development of England from the earliest times to the reign of Queen Victoria. The limits of space would, in any case, compel the selection of certain points for special treatment, and the omission of many others; but an endeavour has been made to touch at least upon the most important events and characteristics of each period. An order of time has been followed so far as it has been possible; but in some instances it has been necessary to depart from this arrangement in order to complete a story. It is obvious that such a book cannot pretend to originality; and the obligations of the author to living writers like Professor Ashley and Dr. Cunningham, who have created Economic History for English students, are great. He is indebted also to many others; and the utmost that he can hope to have attained is to have consulted such authorities, so far as they have been accessible. It has been thought well, in order to permit, and if it may be to encourage, fuller study, to mention in the text, where opportunity has occurred, the chief books on which reliance has thus been placed. The history ends with the introduction of Free Trade, because with this event one period seems to close, and another to begin, and the incidents of the last period, which is now running its course, are as yet too close to allow of calm observation from a distance. ORIEL COLLEGE, OXFORD, L. L. P. October, 1900. CONTENTS. ECONOMIC HISTORY: ITS OBJECTS AND ITS DIFFICULTIES. 1. The opening of the twentieth century is an important epoch.-- 2. An inquiry into the commercial and industrial history of England is suggested.-3. Such an inquiry belongs to "economic history," a department of "economic science."-4. Economic history is of great interest and importance.-5. But it is com- paratively young. The historian has been inclined to neglect it. 6. It requires some economic training.—7. But the economist has viewed it with suspicion.-8. The historical method" was once a subject of controversy.-9. Reconciliation was possible. -10. It has only been recently achieved.—11. Consequently, economic history presents difficulties arising from imperfect knowledge of the material.-12. Especially in the earlier period. -13. But also in the later.-14. It is necessary to select some central fact or institution for special attention.-15. This course will be pursued in the successive chapters of the present book THE ROMANS AND THE ANGLO-SAXONS. 1. The ecomomic history of early times is scanty.-2. Roman civilisation in Britain resembled that found elsewhere.-3. In the Anglo-Saxon period anticipations of later institutions may be found.--4. The period before the Roman occupation is difficult even to imagine.-5. The Romans introduced an advanced civilisation.-6. They left behind material remains of their greatness.-7. Their economic activity was shown in various ways-8. The exact effects of the Anglo-Saxon Conquest are doubtful.-9. But the Saxon period was one of little economic |