Cromwell's Policy in Its Economic Aspects (Classic Reprint)

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Excerpt from Cromwell's Policy in Its Economic Aspects

At one time, toward the end of Elizabeth's reign, after the destruction of the Armada, it seemed as if England would profit most by the declining power of Spain and of Portugal. The English nation was a vast storehouse of energy and was eager for the contest. But the accession of the Stuarts, with the ensuing conﬂict between jun-divine Anglicanism and par liamentary Puritanism, changed the aspect of affairs. The nation's energy was consumed in the home conﬂict, and the supremacy in foreign Commerce, lost by Spain and Portugal, was won for the time by the United Provinces. The north ern provinces of the Netherlands, which had revolted against Spain's religious despotism, became during the course of two generations the economic masters of Europe. The economic history of the United Provinces during the first half of the seventeenth century is merely the record of unchecked progress in the acquisition of wealth and colonies, such as can be found in the history of England during the decades following the Napoleonic Era.

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