PART III

MODERN COMMERCE

XV. EXPLORATION AND DISCOVERY 128

XVI. DEVELOPMENT OF THE ECONOMIC ORGANIZATION 139

XVII. CREDIT AND CRISES 150

XVIII. THE MODERN STATE AND THE MERCANTILE SYSTEM 161

XIX. SPAIN AND PORTUGAL 174

XX. THE NETHERLANDS 190

XXI. ENGLAND: SURVEY OF COMMERCIAL DEVELOPMENT 199

XXII. ENGLAND: EXPORTS 209

XXIII. ENGLAND: IMPORTS; SHIPPING; POLICY 219

XXIV. FRANCE: SURVEY OF COMMERCIAL DEVELOPMENT 229

XXV. FRANCE: POLICY 242

XXVI. THE GERMAN STATES 250

XXVII. ITALY AND MINOR STATES 263