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company¡¡as¡¡the¡¡Bank¡¡of¡¡England¡£

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perhaps¡¡have¡¡been¡¡more¡¡properly¡¡placed¡¡in¡¡those¡¡chapters¡¡of¡¡the

first¡¡book¡¡which¡¡treat¡¡of¡¡the¡¡origin¡¡and¡¡use¡¡of¡¡money£»¡¡and¡¡of¡¡the

difference¡¡between¡¡the¡¡real¡¡and¡¡the¡¡nominal¡¡price¡¡of¡¡commodities¡£

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origin¡¡from¡¡those¡¡vulgar¡¡prejudices¡¡which¡¡have¡¡been¡¡introduced¡¡by

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¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡CHAPTER¡¡VII



¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡Of¡¡Colonies¡¡



¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡PART¡¡1

¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡Of¡¡the¡¡Motives¡¡for¡¡establishing¡¡new¡¡Colonies¡¡



¡¡¡¡¡¡¡¡¡¡THE¡¡interest¡¡which¡¡occasioned¡¡the¡¡first¡¡settlement¡¡of¡¡the

different¡¡European¡¡colonies¡¡in¡¡America¡¡and¡¡the¡¡West¡¡Indies¡¡was

not¡¡altogether¡¡so¡¡plain¡¡and¡¡distinct¡¡as¡¡that¡¡which¡¡directed¡¡the

establishment¡¡of¡¡those¡¡of¡¡ancient¡¡Greece¡¡and¡¡Rome¡£

¡¡¡¡¡¡¡¡¡¡All¡¡the¡¡different¡¡states¡¡of¡¡ancient¡¡Greece¡¡possessed£»¡¡each

of¡¡them£»¡¡but¡¡a¡¡very¡¡small¡¡territory£»¡¡and¡¡when¡¡the¡¡people¡¡in¡¡any

one¡¡of¡¡them¡¡multiplied¡¡beyond¡¡what¡¡that¡¡territory¡¡could¡¡easily

maintain£»¡¡a¡¡part¡¡of¡¡them¡¡were¡¡sent¡¡in¡¡quest¡¡of¡¡a¡¡new¡¡habitation

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neighbours¡¡who¡¡surrounded¡¡them¡¡on¡¡all¡¡sides£»¡¡rendering¡¡it

difficult¡¡for¡¡any¡¡of¡¡them¡¡to¡¡enlarge¡¡very¡¡much¡¡its¡¡territory¡¡at

home¡£¡¡The¡¡colonies¡¡of¡¡the¡¡Dorians¡¡resorted¡¡chiefly¡¡to¡¡Italy¡¡and

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inhabitants¡¡seem¡¡at¡¡that¡¡time¡¡to¡¡have¡¡been¡¡pretty¡¡much¡¡in¡¡the

same¡¡state¡¡as¡¡those¡¡of¡¡Sicily¡¡and¡¡Italy¡£¡¡The¡¡mother¡¡city£»¡¡though

she¡¡considered¡¡the¡¡colony¡¡as¡¡a¡¡child£»¡¡at¡¡all¡¡times¡¡entitled¡¡to

great¡¡favour¡¡and¡¡assistance£»¡¡and¡¡owing¡¡in¡¡return¡¡much¡¡gratitude

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she¡¡pretended¡¡to¡¡claim¡¡no¡¡direct¡¡authority¡¡or¡¡jurisdiction¡£¡¡The

colony¡¡settled¡¡its¡¡own¡¡form¡¡of¡¡government£»¡¡enacted¡¡its¡¡own¡¡laws£»

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for¡¡the¡¡approbation¡¡or¡¡consent¡¡of¡¡the¡¡mother¡¡city¡£¡¡Nothing¡¡can¡¡be

more¡¡plain¡¡and¡¡distinct¡¡than¡¡the¡¡interest¡¡which¡¡directed¡¡every

such¡¡establishment¡£

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territory¡¡in¡¡a¡¡certain¡¡proportion¡¡among¡¡the¡¡different¡¡citizens

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by¡¡succession£»¡¡and¡¡by¡¡alienation£»¡¡necessarily¡¡deranged¡¡this

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land¡¡which¡¡any¡¡citizen¡¡could¡¡possess¡¡to¡¡five¡¡hundred¡¡jugera£»

about¡¡three¡¡hundred¡¡and¡¡fifty¡¡English¡¡acres¡£¡¡This¡¡law£»¡¡however£»

though¡¡we¡¡read¡¡of¡¡its¡¡having¡¡been¡¡executed¡¡upon¡¡one¡¡or¡¡two

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lands¡¡of¡¡the¡¡rich¡¡were¡¡all¡¡cultivated¡¡by¡¡slaves£»¡¡who¡¡wrought

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other¡¡means¡¡of¡¡subsistence¡¡but¡¡the¡¡bounties¡¡of¡¡the¡¡candidates¡¡at

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nature¡¡of¡¡the¡¡establishment¡¡itself¡¡or¡¡the¡¡motives¡¡for¡¡making¡¡it£»

was¡¡altogether¡¡different¡¡from¡¡a¡¡Greek¡¡one¡£¡¡The¡¡words¡¡accordingly£»

which¡¡in¡¡the¡¡original¡¡languages¡¡denote¡¡those¡¡different

establishments£»¡¡have¡¡very¡¡different¡¡meanings¡£¡¡The¡¡Latin¡¡word

£¨Colonia£©¡¡signifies¡¡simply¡¡a¡¡plantation¡£¡¡The¡¡Greek¡¡word¡¡apoikia£»

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from¡¡home£»¡¡a¡¡going¡¡out¡¡of¡¡the¡¡house¡£¡¡But£»¡¡though¡¡the¡¡Roman

colonies¡¡were¡¡in¡¡many¡¡respects¡¡different¡¡from¡¡the¡¡Greek¡¡ones£»¡¡the

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irresistible¡¡necessity£»¡¡or¡¡from¡¡clear¡¡and¡¡evident¡¡utility¡£

¡¡¡¡¡¡¡¡¡¡The¡¡establishment¡¡of¡¡the¡¡European¡¡colonies¡¡in¡¡America¡¡and

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perhaps£»¡¡well¡¡understood¡¡at¡¡this¡¡day¡£

¡¡¡¡¡¡¡¡¡¡The¡¡Venetians£»¡¡during¡¡the¡¡fourteenth¡¡and¡¡fifteenth

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and¡¡other¡¡East¡¡India¡¡goods£»¡¡which¡¡they¡¡distributed¡¡among¡¡the

other¡¡nations¡¡of¡¡Europe¡£¡¡They¡¡purchased¡¡them¡¡chiefly¡¡in¡¡Egypt£»¡¡at

that¡¡time¡¡under¡¡the¡¡dominion¡¡of¡¡the¡¡Mamelukes£»¡¡the¡¡enemies¡¡of¡¡the

Turks£»¡¡of¡¡whom¡¡the¡¡Venetians¡¡were¡¡the¡¡enemies£»¡¡and¡¡this¡¡union¡¡of

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¡¡¡¡¡¡¡¡¡¡The¡¡great¡¡profits¡¡of¡¡the¡¡Venetians¡¡tempted¡¡the¡¡avidity¡¡of

the¡¡Portuguese¡£¡¡They¡¡had¡¡been¡¡endeavouring£»¡¡during¡¡the¡¡course¡¡of

the¡¡fifteenth¡¡century£»¡¡to¡¡find¡¡out¡¡by¡¡sea¡¡a¡¡way¡¡to¡¡the¡¡countries

from¡¡which¡¡the¡¡Moors¡¡brought¡¡them¡¡ivory¡¡and¡¡gold¡¡dust¡¡across¡¡the

desert¡£¡¡They¡¡discovered¡¡the¡¡Madeiras£»¡¡the¡¡Canaries£»¡¡the¡¡Azores£»

the¡¡Cape¡¡de¡¡Verde¡¡Islands£»¡¡the¡¡coast¡¡of¡¡Guinea£»¡¡that¡¡of¡¡Loango£»

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They¡¡had¡¡long¡¡wished¡¡to¡¡share¡¡in¡¡the¡¡profitable¡¡traffic¡¡of¡¡the

Venetians£»¡¡and¡¡this¡¡last¡¡discovery¡¡opened¡¡to¡¡them¡¡a¡¡probable

prospect¡¡of¡¡doing¡¡so¡£¡¡In¡¡1497£»¡¡Vasco¡¡de¡¡Gama¡¡sailed¡¡from¡¡the¡¡port

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great¡¡steadiness£»¡¡and¡¡with¡¡very¡¡little¡¡interruption£»¡¡for¡¡nearly¡¡a

century¡¡together¡£

¡¡¡¡¡¡¡¡¡¡Some¡¡years¡¡before¡¡this£»¡¡while¡¡the¡¡expectations¡¡of¡¡Europe

were¡¡in¡¡suspense¡¡about¡¡the¡¡projects¡¡of¡¡the¡¡Portuguese£»¡¡of¡¡which

the¡¡success¡¡appeared¡¡yet¡¡to¡¡be¡¡doubtful£»¡¡a¡¡Genoese¡¡pilot¡¡formed

the¡¡yet¡¡more¡¡daring¡¡project¡¡of¡¡sailing¡¡to¡¡the¡¡East¡¡Indies¡¡by¡¡the

West¡£¡¡The¡¡situation¡¡of¡¡those¡¡countries¡¡was¡¡at¡¡that¡¡time¡¡very

imperfectly¡¡known¡¡in¡¡Europe¡£¡¡The¡¡few¡¡European¡¡travellers¡¡who¡¡had

been¡¡there¡¡had¡¡magnified¡¡the¡¡distance£»¡¡perhaps¡¡through¡¡simplicity

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shorter¡¡it¡¡would¡¡be¡¡by¡¡the¡¡West¡£¡¡He¡¡proposed£»¡¡therefore£»¡¡to¡¡take

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good¡¡fortune¡¡to¡¡convince¡¡Isabella¡¡of¡¡Castile¡¡of¡¡the¡¡probability

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¡¡¡¡¡¡¡¡¡¡But¡¡the¡¡countries¡¡which¡¡Columbus¡¡discovered£»¡¡either¡¡in¡¡this

or¡¡in¡¡any¡¡of¡¡his¡¡subsequent¡¡voyages£»¡¡had¡¡no¡¡resemblance¡¡to¡¡those

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that¡¡they¡¡were¡¡not¡¡the¡¡same¡¡with¡¡some¡¡of¡¡the¡¡countries¡¡described

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make¡¡him¡¡return¡¡to¡¡this¡¡favourite¡¡prepossession£»¡¡though¡¡contrary

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Isabella¡¡he¡¡called¡¡the¡¡countries¡¡which¡¡he¡¡had¡¡discovered¡¡the

Indies¡£¡¡He¡¡entertained¡¡no¡¡doubt¡¡but¡¡that¡¡they¡¡were¡¡the¡¡extremity

of¡¡those¡¡which¡¡had¡¡been¡¡described¡¡by¡¡Marco¡¡Po

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