THE COMMERCIAL PROGRESS OF FOUR CENTURIES.

CHRONOLOGICAL SKETCH OF THE LEADING COMMERCIAL EVENTS OF THE SIXTEENTH, Seventeenth, eighteentH AND NINETEENTH CENTURIES.

THE SIXTEENTH CENTURY.

THE sixteenth century was more distinguished than its predecessors for the progress of geographical knowledge, and for the extension of commercial intercourse between Europe and foreign nations. Soon after the discoveries of COLUMBUS were made known, at the close of the fifteenth century, the Spaniards, the Portuguese, the English, the French and the Dutch, severally fitted out expeditions for the purpose of acquiring new territory. The Portuguese opened a trade and extended their settlements beyond the Cape of Good Hope. The English established colonies in Virginia and Carolina, and explored California on the Pacific. The French planted the Cross in Canada. Spain acquired the Philippine Islands, and extended their dominion over Mexico, Peru and various portions of South America. Strenuous exertions were made to extend the commerce of each European nation. Voyages round the world were for the first time projected and accomplished. Commercial companies on a large scale, and with large capitals, were formed in England. The whale-fishery was first commenced, and a general spirit of commercial enterprise encouraged. Slaves were first imported into the colonies. Tea and tobacco first became known to the Europeans.

1503. The Portuguese commander, ALBUQUERQUE, on his way to India, discovered Zanzibar. 1504. Death of ISABELLA, Queen of Spain, and friend of COLUMBUS, November 26, aged 53. COLUMBUS returned from his fourth and last voyage. The Venetians, jealous of the new Indian trade of the Portuguese, incite the Mamelukes of Egypt to commence hostilities against them. 1505. FRANCESCO DE ALMEIRA, Portuguese Viceroy, established factories along the coast of Malabar, and his fleets interrupted the commerce of Egyptians and Venetians. 1506. The sugar-cane brought to Hispaniola from the Canaries. The GREAT HARRY, the first ship of the English navy, built. 1507. MARGARET of Savoy, Governess of the Netherlands, concluded a commercial treaty with England. Portuguese settlements formed on Ormus by ALBUQUERQUE, and on Ceylon by ALMEIDA. Madagascar visited by TRISTAN D'ACUNHA. 1509. The Venetians recover Padua, and rise again in power. DIEGO COLUMBUS (son of CHRISTOPHER) Governor of Spanish America.

1510-1520.—The Portuguese established themselves (1511) at Malacca, which becomes the centre of their trade with the neighboring . islands and with China. 1513. VASCO NUNEZ DE BALBOA crosses the Isthmus of Darien, and reaches the Pacific. 1515. The Rio de la Plata discovered by JUAN DIAZ DE SOTIS. 1516. Death of FERDINAND of Spain, January 23, aged 64. 1517. The Portuguese trade with China. at Macao. Negro slaves brought to Hispaniola. The sweating sickness. (cold plague) raged in London. 1518. SILVEYRA Opens the Portuguese trade with Bengal. 1519. FERNANDO CORTEZ attacked Mexico. FER

Nando de MagelHAENS sailed on his expedition to the Pacific, and having passed through the straits now bearing his name, discovered the Ladrones and Philippines, and was murdered by the natives. 1520. CORTEZ took the city of Mexico.

1521-1530.-After the death of MAGELHAENS (1521) CANO conducted the squadron to the Moluccas, and (in 1522) returned to Seville, via Cape of Good Hope, having concluded the first circumnavigation of the globe, in 1,154 days. 1524. First discovery of Peru by PIZARRO and ALMAGRO.

1531-1540.-Porto Bello and Cartagena (Spanish Main) founded in 1532. Mines of Zacatecas discovered. 1533. CORTEZ conquered Cusco and Quito, the capitals of Peru. 1534. The Sound opened to the Netherlands merchants. Canada discovered by CARTIER. 1535. The use of tobacco first known in Europe. 1536. Final subjugation of Peru. Discovery of California by CORTEZ. 1537. Conquest of New-Granada. 1540. Cherry trees brought from Flanders and planted in Kent, England. 1541-1550.—The Portuguese admitted (1542) to trade with Japan. 1543. Death of COPERNICUS; he deferred until his last days the publication of his great work, De Orbium Cælestium Revolutionibus. 1545. Discovery of the mines of Potosi. 1546. Rate of interest in England fixed at 10 per cent. (37, HENRY VIII.) 1548. Introduction of the orange tree from China into Portugal.

1551-1560.-The London Steelyard Company (the first commercial company established in England, 1232) deprived (1551) of their privileges. 1552. All loans at usury declared illegal, and subject to forfeiture in England. The King of France (HENRY II.) prohibits the export of money. 1558. The Salters' Company, London, established. 1560. Ordinary rate of interest at Antwerp, 12 per cent., and fixed at the same rate in Germany, Flanders and Spain by CHARLES V. Bourse established at Antwerp.

1561-1570.-Merchant Tailors' School, London, (1561,) instituted. 1564. The Manillas, ceded by Portugal to Spain, received the name of the Philippines. 1567. The Royal Exchange, London, founded by Sir THOMAS GRESHAM, September 7. Caraccas, in Venezuela, built by the Spaniards. 1568. Some ships, conveying money from Spain to the Duke of Alva, are detained by Queen ELIZABETH at Southampton and Plymouth. 1569. LUIS DE ATALDE revives the waning power of Portugal in India. Drawing of the first English Lottery. 1570. The Royal Exchange, London, opened by Queen ELIZABETH.

1571-1580.-Rate of interest limited in England to 10 per cent. 1571. Large accumulations of gold from America. Manilla built (1573,) and made the seat of a Spanish Viceroy. 1576. The plague devastated Italy-70,000 died at Venice. MARTIN FROBISHER sailed, June 11, to seek a northwest passage; failed and returned. 1577. DRAKE commenced his voyage round the world, November 15. 1578. The Norwegians attempted to interrupt the English commerce with Archangel. California explored by DRAKE. First colony planted in Virginia by GILBERT. Tulips introduced into England. 1579. Queen ELIZABETH entered into a treaty of commerce with the Sultan, and established the Turkey Company. 1580. DRAKE returned from his voyage, November 3; the order of knighthood conferred upon him.

1581-1590.-Correction of the calendar by GREGORY III.; (1582;)

October 5th made the 15th. 1583. Queen ELIZABETH claimed the sovereignty of Newfoundland and fortified St. John's. 1584. RALEIGH conducted a second colony to Virginia. 1585. DRAKE and FROBISHER, with a powerful fleet, attacked the Spanish settlements in the West Indies. DAVIS explored the northeast coast of America. Coaches first used in England. 1586. Success of DRAKE in Hispaniola, San Domingo and Florida. Potatoes and tobacco introduced into England. CAVENDISH sailed on his expedition. 1587. The Scottish Parliament (JAMES VI.) adopted 10 per cent. as the maximum rate of interest. 1588. The Spanish armada sailed from Lisbon May 29, entered the English Channel July 19, and was defeated. Lord BURLEIGH established the first newspaper, The English Mercury. 1589. CAVENDISH returned with great wealth, taken from the Spanish settlements during his voyage round the world. The stocking frame invented by Rev. WILLIAM LEE, of Cambridge. 1590. The first paper-mill in England, established by JOHN SPILLMAN, at Dartford in Kent.

1591-1600.-English ships pursued the whale-fishery (1591) at Cape Breton. Telescopes improved and brought into general notice by JANSEN, of Middleburg. 1593. Whalebone first used in England. 1594. The Falkland Islands discovered by HAWKINS. 1595. Oranges first known in England. 1598. Whale-fishery commenced at Spitzbergen. 1600. The English East India Company established.

THE SEVENTEENTH CENTURY.

The seventeenth century was distinguished for a still wider range of geographical discovery. The English, under the auspices of JAMES I., CHARLES I. and CROMWELL, planted vigorously their colonies in New-England, Maryland and on the southern portions of the North American coast-established their factories beyond the Cape of Good Hope. The East India Company obtained its charter, and thus opened English trade and government over an area of 750,000 miles, and a population of 104,000,000. The commercial prosperity of the Dutch excited the jealousy of CROMWELL, by whom most vigorous efforts were made to subdue their naval power. Under LOUIS XIV. and the auspices of the illustrious legislator, COLBERT, the Ordinances de la Marine et de la Commerce were constructed in 1681-the first systematic and complete body of laws relating to commerce by sea and land published in Europe; a system which became immediately the basis of the maritime legislation of Europe. The revocation of the edict of Nantes by LOUIS XIV., October 24, 1685, was a severe blow to the prosperity of France. This unjust policy lost to France 800,000 Protestants, and gave to England (part of these) 50,000 artisans. Many of these were silk weavers, who settled at Spitalfields, Soho, St. Giles, &c. The Dutch actively planted their colonies in Asia and America; the foundation of New-York was laid. They discovered Van Diemen's Land and New-Holland, settled the Cape of Good Hope and Guyana. The French, at the same time, were pushing their settlements at Quebec and other portions of Canada. Louisiana, and the Mississippi and Illinois rivers, were explored by Father HENNEPIN. The successes gained by Europeans in South America gave rise to the buccaneers, who for many years infested the seas. The century is also remarkable for the establishment of the Bank of England; the commencement of the British national debt; the more general diffusion of geo

graphical knowledge and of science throughout Europe, and for improvements in shipping and the extension of commerce throughout the world.

1601-1610.-Debate on monopolies (1601) defended by FRANCIS BACON-abolished by Queen ELIZABETH. The first English factories established on the Malabar coast. 1601. The rate of interest in France (HENRY IV. and SULLY) fixed at 64 per cent. 1602. Artichokes introduced into England from Holland; Asparagus from Asia; Cauliflower from Cyprus. 1604. The plague raged violently in London. 1606. English companies chartered for settlements in Virginia. The French established themselves in Canada. New-Holland discovered by the Dutch. 1608. HDUSON explores the bay now known as HUDSON'S Bay. Quebec built. 1609. Many Puritans left England for Virginia with Sir THOMAS GATES and Sir G. SOMERS-the latter driven to the Bermudas (or SOMERS' Island.) The Dutch, by levying heavy tolls at the mouth of the Scheldt, transfer the commerce of Antwerp to Amsterdam and Rotterdam. Copper coin first issued by the mint, London. Armistice of twelve years concluded between Spain and the United Provinces. 1610. Batavia settled by the Dutch on the Island of Java. The invention of the thermometer ascribed to FRA PAOLO, to SANCTORIO and to DREBBLE of Alkmaar.

1611-1620.-The United Provinces obtained (1612) from the Turks advantageous terms in their commerce in the Levant. 1613, English factories established at Surat, in India, and at Gombroon, on the Persian Gulf. The buccaneers noted on the coasts of America. 1614. Logarithms invented by Lord NAPIER. 1615. Coffee in use at Venice. 1616. BAFFIN explored the bay to which his name was given. 1618. First voyage of the Danes to India, and settlement at Tranquebar. Patent granted for a fire-engine for raising ballast and water, nearly on the principle of the steam-engine. 1620. Silk first manufactured in England. Plymouth colony settled.

First perma

1621-1630.-The conquests of the Dutch commenced. nent settlement on Manhattan Island (1621) by the Dutch. The colony at Nova Scotia (1652) settled by the Scotch. 1624. The rate of interest in England reduced to 8 per cent., (21 JAMES I.,) and in Scotland in 1632. 1625. The culture of silk commenced in Virginia. 1626. French settlements at Senegal and Guyana. 1627. Success of the Dutch Admiral, HEIN, in Brazil; Essequibo, in Guyana, founded by him.

1631-1640.-CHARLES I. revived monopolies, sold patents and privileges to new companies, and imposed a stamp on cards. 1632. A colony of Catholics, under Lord BALTIMORE, settled in Maryland. The Dutch acquired the Island of St. Eustatia. 1634. Writ for levying ship-money in England. The Dutch took Curacoa. 1635. Proclamation in England against hackney coaches standing in the streets. Gaudaloupe and Martinique appropriated by France. 1637. The levy of ship-money unpopular. 1640. Ship-money voted to be illegal.

1641-1650.-TASMAN discovered Van Diemen's Land, (1642,) and named it in honor of the Dutch Governor of Batavia. 1643. Cayenne colonized by the French. VAN DIEMEN sent DE VRIES and SCHAEP to explore the ocean north of Japan. 1645. The greater part of Candia conquered by the Turks. 1647. HUYGENS invented and applied the pendulum to clocks. 1650. The Dutch took possession of the Cape of Good Hope.

1651-1660.-Quarrel between the English and the Dutch (1651) about the right of fishing; the massacre at Amboyna, and colonial encroachments. Rate of interest reduced by the Rump Parliament to 6 per cent. 1660. Tea used in London.

1661-1670.-Bombay and Tangier ceded to England, (1662,) and free trade with Brazil. 1663. The profits of the English post-office and wine licenses, granted to the Duke of York. The finances, manufactures, commerce, marine and colonial systems of France, improved under COLBert. 1665. London afflicted by the plague, April 28. 1666. Great fire in London, from September 2 till September 6; property destroyed valued at £8,000,000. 1667. A tax of twelve pence levied on every ton of coal brought into London, January 18, to aid the rebuilding of London. The first stone of the new Royal Exchange laid (August 23) by CHARLES II.

1671-1680.-The money in the Exchequer (12th January, 1672) seized by CHARLES II. Great confusion and commercial distress followed. 1680. The publication of newspapers and pamphlets without a license declared (May 16) to be illegal in England."

1681-1690.-A penny-post first established in London, (1683,) by a private individual named MURRAY. 1685. The Pope of Rome, by compulsory process, reduced the rates of interest on the public debt from 4 to 3 per cent. 1688. The Venetians made further progress in Dalmatia. 1691-1700.-Origin of the Bank of England, (1694, 25th April,) under WILLIAM III. Stamp duties in England commenced, 28th June. 1695. Commissioners appointed for building Greenwich Hospital. 1697. Charter of Bank of England renewed till twelve months' notice. 1698. Address of the English House of Commons to WILLIAM III., for the discouragement of the woollen manufacture and the promotion of the linen, 10th June. 1699. Czar PETER introduced the computation of time in Russia by the Christian era, but adhered to the old style. DAMPIER explored the northwest coast of New-Holland.

THE EIGHTEENTH CENTURY.

The progress of geographical knowledge rapidly increased throughout Europe during this century; and important projects were entertained with a view to settle remote colonies, and thus extend the commerce with other nations. The Darien expedition, under WILLIAM PATERSON, had left Scotland in the year 1698. This gave rise to the South Sea Company in 1710-1712, and further gave rise to many of the monopolies granted early in the century. The Dutch, the Swedes and the Danes all strove to extend their commerce in the East Indies; and vigorous efforts were made by the French and the English to attain the ascendancy in the West Indies. ANSON, VANCOUVER and Cook made their noted voyages of discovery. The century was further distinguished for the introduction of cotton from Jamaica and other West India islands into Europe, and its conversion into wearing apparel as a substitute for the use of woollen and linen goods. Before the collision between England and her colonies, ARKWRIGHT had made known his important improvement in cotton-spinning; and, soon after, the more important invention of WHITNEY accomplished for the American planter the great labor-saving machine known as the cotton gin.

The expensive wars between France, England, Spain, Holland, &c.,