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2. but little ground till Queen ELizabeth with the assistance of able Ministers and the Wisdom of Parliament carried the superiority of both to an amazing heigth; the famous act of navigation greatly employed our Shipping, and the Naval power soon became the terrour of the World; but the discoveries in South America brought so much gold and Silver into Spain and Portugal that manufactures and agriculture were soon neglected in those Kingdoms, from whence they soon became weak though abounding with those metals.

Whilst Spain and Portgual neglected their Manufacutres, and sunk into sloth, effeminacy, and luxury, the rest of Europe improved in manufactures and furnished those Kingdoms with the Articles they had formerly made at home; previous to this necessity had produced industry, riches, and freedom in the Hinted Provinces, their Manufactures were improved, and their Merchants acquired the Sovereignty of vast kingdoms in the East Indies, whilst the Nation secured inexhaustible riches by the exclusive trade to the Spice Islands.

In imitation of the Duch, Trading Companies were established in England, the naval power was greatly increased, and the manufactures were thought the best and most perfect of any in Europe.

The Immortal Colbert at this period revived every sort of industry in France; the French and Dutch are more sober, frugal, and industrious than the English; France is our most dangerous rival in trade; England and Holland can alone check the Trade of France, and they ought to unite in what regards both of them so nearly; France by underselling the English have got the greatest part of Turkish, Italian, and Spanish Trades; Portlethwayte gives the National Debt, and the continuation of Taxes as the cause of this; perhaps he may be right in par; but deletion it appears /deletion add undoubtedly the /add National Debt