State of Commerce after the Fall of the Roman. Empire.--Its Revival under the Frankish Kings.--Its Prosperity under Charlemagne.--Its Decline down to the Time of the Crusaders.--The Levant Trade of the East.--Flourishing State of the Towns of Provence and Languedoc.--Establishment of Fairs.--Fairs of Landit, Champagne, Beaucaire, and Lyons.--Weights and Measures.--Commercial Flanders. Laws of Maritime Commerce.--Consular Laws.--Banks and Bills of Exchange.--French. Settlements on the Coast of Africa.--Consequences of the Discovery of America.

"Commerce in the Middle Ages," says M. Charles Grandmaison, "differed but little from that of a more remote period. It was essentially a local and limited traffic, rather inland than maritime, for long and perilous sea voyages only commenced towards the end of the fifteenth century, or about the time when Columbus discovered America."

On the fall of the Roman Empire, commerce was rendered insecure, and, indeed, it was almost completely put a stop to by the barbarian invasions, and all facility of communication between different nations, and even between towns of the same country, was interrupted. In those times of social confusion, there were periods of such poverty and distress, that for want of money commerce was reduced to the simple exchange of the positive necessaries of life. When order was a little restored, and society and the minds of people became more composed, we see commerce recovering its position; and France was, perhaps, the first country in Europe in which this happy change took place. Those famous cities of Gaul, which ancient authors describe to us as so rich and so industrious, quickly recovered their former prosperity, and the friendly relations which were established between the kings of the Franks and the Eastern Empire encouraged the Gallic cities in cultivating a commerce, which was at that time the most important and most extensive in the world.

Marseilles, the ancient Phoenician colony, once the rival and then the successor to Carthage, was undoubtedly at the head of the commercial cities of France. Next to her came Arles, which supplied ship-builders and seamen to the fleet of Provence; and Narbonne, which admitted into its harbour ships from Spain, Sicily, and Africa, until, in consequence of the Aude having changed its course, it was obliged to relinquish the greater part of its maritime commerce in favour of Montpellier.

Commerce maintained frequent communications with the East; it sought its supplies on the coast of Syria, and especially at Alexandria, in Egypt, which was a kind of depÔt for goods obtained from the rich countries lying beyond the Red Sea (Figs. 189 and 190). The Frank navigators imported from these countries, groceries, linen, Egyptian paper, pearls, perfumes, and a thousand other rare and choice articles. In exchange they offered chiefly the precious metals in bars rather than coined, and it is probable that at this period they also exported iron, wines, oil, and wax. The agricultural produce and manufactures of Gaul had not sufficiently developed to provide anything more than what was required for the producers themselves. Industry was as yet, if not purely domestic, confined to monasteries and to the houses of the nobility; and even the kings employed women or serf workmen to manufacture the coarse stuffs with which they clothed themselves and their households. We may add, that the bad state of the roads, the little security they offered to travellers, the extortions of all kinds to which foreign merchants were subjected, and above all the iniquitous System of fines and tolls which each landowner thought right to exact, before letting merchandise pass through his domains, all created insuperable obstacles to the development of commerce.

The Frank kings on several occasions evinced a desire that communications favourable to trade should be re-established in their dominions. We find, for instance, ChilpÉric making treaties with Eastern emperors in favour of the merchants of Agde and Marseilles, Queen Brunehaut making viaducts worthy of the Romans, and which still bear her name, and Dagobert opening at St. Denis free fairs--that is to say, free, or nearly so, from all tolls and taxes--to which goods, both agricultural and manufactured, were sent from every corner of Europe and the known world, to be afterwards distributed through the towns and provinces by the enterprise of internal commerce.

After the reign of Dagobert, commerce again declined without positively ceasing, for the revolution, which transferred the power of the kings to the mayors of the palace was not of a nature to exhaust the resources of public prosperity; and a charter of 710 proves that the merchants of Saxony, England, Normandy, and even Hungary, still flocked to the fairs of St. Denis.

Under the powerful and administrative hand of Charlemagne, the roads being better kept up, and the rivers being made more navigable, commerce became safe and more general; the coasts were protected from piratical incursions; lighthouses were erected at dangerous points, to prevent shipwrecks; and treaties of commerce with foreign nations, including even the most distant, guaranteed the liberty and security of French traders abroad.

Under the weak successors of this monarch, notwithstanding their many efforts, commerce was again subjected to all sorts of injustice and extortions, and all its safeguards were rapidly destroyed. The Moors in the south, and the Normans in the north, appeared to desire to destroy everything which came in their way, and already Marseilles, in 838, was taken and pillaged by the Greeks. The constant altercations between the sons of Louis le DÉbonnaire and their unfortunate father, their jealousies amongst themselves, and their fratricidal wars, increased the measure of public calamity, so that soon, overrun by foreign enemies and destroyed by her own sons, France became a vast field of disorder and desolation.

The Church, which alone possessed some social influence, never ceased to use its authority in endeavouring to remedy this miserable state of things; but episcopal edicts, papal anathemas, and decrees of councils, had only a partial effect at this unhappy period. At any moment agricultural and commercial operations were liable to be interrupted, if not completely ruined, by the violence of a wild and rapacious soldiery; at every step the roads, often impassable, were intercepted by toll-bars for some due of a vexatious nature, besides being continually infested by bands of brigands, who carried off the merchandise and murdered those few merchants who were so bold as to attempt to continue their business. It was the Church, occupied as she was with the interests of civilisation, who again assisted commerce to emerge from the state of annihilation into which it had fallen; and the "Peace or Truce of God," established in 1041, endeavoured to stop at least the internal wars of feudalism, and it succeeded, at any rate for a time, in arresting these disorders. This was all that could be done at that period, and the Church accomplished it, by taking the high hand; and with as much unselfishness as energy and courage, she regulated society, which had been abandoned by the civil power from sheer impotence and want of administrative capability.

At all events, thanks to ecclesiastical foresight, which increased the number of fairs and markets at the gates of abbeys and convents, the first step was made towards the general resuscitation of commerce. Indeed, the Church may be said to have largely contributed to develop the spirit of progress and liberty, whence were to spring societies and nationalities, and, in a word, modern organization.

The Eastern commerce furnished the first elements of that trading activity which showed itself on the borders of the Mediterranean, and we find the ancient towns of Provence and Languedoc springing up again by the aide of the republics of Amalfi, Venice, Genoa, and Pisa, which had become the rich depÔts of all maritime trade.

At first, as we have already stated, the wares of India came to Europe through the Greek port of Alexandria, or through Constantinople. The Crusades, which had facilitated the relations with Eastern countries, developed a taste in the West for their indigenous productions, gave a fresh vigour to this foreign commerce, and rendered it more productive by removing the stumbling blocks which had arrested its progress (Fig. 191).

The conquest of Palestine by the Crusaders had first opened all the towns and harbours of this wealthy region to Western traders, and many of them were able permanently to establish themselves there, with all sorts of privileges and exemptions from taxes, which were gladly offered to them by the nobles who had transferred feudal power to Mussulman territories.

Ocean commerce assumed from this moment proportions hitherto unknown. Notwithstanding the papal bulls and decrees, which forbade Christians from having any connection with infidels, the voice of interest was more listened to than that of the Church (Fig. 192), and traders did not fear to disobey the political and religions orders which forbade them to carry arms and slaves to the enemies of the faith.

It was easy to foretell, from the very first, that the military occupation of the Holy Land would not be permanent. In consequence of this, therefore, the nearer the loss of this fine conquest seemed to be, the greater were the efforts made by the maritime towns of the West to re-establish, on a more solid and lasting basis, a commercial alliance with Egypt, the country which they selected to replace Palestine, in a mercantile point of view. Marseilles was the greatest supporter of this intercourse with Egypt; and in the twelfth and thirteenth centuries she reached a very high position, which she owed to her shipowners and traders. In the fourteenth century, however, the princes of the house of Anjou ruined her like the rest of Provence, in the great and fruitless efforts which they made to recover the kingdom of Naples; and it was not until the reign of Louis XI. that the old Phoenician city recovered its maritime and commercial prosperity (Fig. 193).

Languedoc, depressed, and for a time nearly ruined in the thirteenth century by the effect of the wars of the Albigenses, was enabled, subsequently, to recover itself. BÉziers, Agde, Narbonne, and especially Montpellier, so quickly established important trading connections with all the ports of the Mediterranean, that at the end of the fourteenth century consuls were appointed at each of these towns, in order to protect and direct their transmarine commerce. A traveller of the twelfth century, Benjamin de TudÈle, relates that in these ports, which were afterwards called the stepping stones to the Levant, every language in the world might be heard.

Toulouse was soon on a par with the towns of Lower Languedoc, and the Garonne poured into the markets, not only the produce of Guienne, and of the western parts of France, but also those of Flanders, Normandy, and England. We may observe, however, that Bordeaux, although placed in a most advantageous position, at the mouth of the river, only possessed, when under the English dominion, a very limited commerce, principally confined to the export of wines to Great Britain in exchange for corn, oil, &c.

La Rochelle, on the same coast, was much more flourishing at this period, owing to the numerous coasters which carried the wines of Aunis and Saintonge, and the salt of Brouage to Flanders, the Netherlands, and the north of Germany. VitrÉ already had its silk manufactories in the fifteenth century, and Nantes gave promise of her future greatness as a depÔt of maritime commerce. It was about this time also that the fisheries became a new industry, in which Bayonne and a few villages on the sea-coast took the lead, some being especially engaged in whaling, and others in the cod and herring fisheries (Fig. 194).

Long before this, Normandy had depended on other branches of trade for its commercial prosperity. Its fabrics of woollen stuffs, its arms and cutlery, besides the agricultural productions of its fertile and well-cultivated soil, each furnished material for export on a large scale.

The towns of Rouen and Caen were especially manufacturing cities, and were very rich. This was the case with Rouen particularly, which was situated on the Seine, and was at that time an extensive depÔt for provisions and other merchandise which was sent down the river for export, or was imported for future internal consumption. Already Paris, the abode of kings, and the metropolis of government, began to foreshadow the immense development which it was destined to undergo, by becoming the centre of commercial affairs, and by daily adding to its labouring and mercantile population (Figs. 195 and 196).

It was, however, outside the walls of Paris that commerce, which needed liberty as well as protection, at first progressed most rapidly. The northern provinces had early united manufacturing industry with traffic, and this double source of local prosperity was the origin of their enormous wealth. Ghent and Bruges in the Low Countries, and Beauvais and Arras, were celebrated for their manufacture of cloths, carpets, and serge, and Cambrai for its fine cloths. The artizans and merchants of these industrious cities then established their powerful corporations, whose unwearied energy gave rise to that commercial freedom so favourable to trade.

More important than the woollen manufactures--for the greater part of the wool used was brought from England--was the manufacture of flax, inasmuch as it encouraged agriculture, the raw material being produced in France. This first flourished in the north-east of France, and spread slowly to Picardy, to Beauvois, and Brittany. The central countries, with the exception of Bruges, whose cloth manufactories were already celebrated in the fifteenth century, remained essentially agricultural; and their principal towns were merely depÔts for imported goods. The institution of fairs, however, rendered, it is true, this commerce of some of the towns as wide-spread as it was productive. In the Middle Ages religious feasts and ceremonials almost always gave rise to fairs, which commerce was not slow in multiplying as much as possible. The merchants naturally came to exhibit their goods where the largest concourse of people afforded the greatest promise of their readily disposing of them. As early as the first dynasty of Merovingian kings, temporary and periodical markets of this kind existed; but, except at St. Denis, articles of local consumption only were brought to them. The reasons for this were, the heavy taxes which were levied by the feudal lords on all merchandise exhibited for sale, and the danger which foreign merchants ran of being plundered on their way, or even at the fair itself. These causes for a long time delayed the progress of an institution which was afterwards destined to become so useful and beneficial to all classes of the community.

We have several times mentioned the famous fair of Landit, which is supposed to have been established by Charlemagne, but which no doubt was a sort of revival of the fairs of St. Denis, founded by Dagobert, and which for a time had fallen into disuse in the midst of the general ruin which preceded that emperor's reign. This fair of Landit was renowned over the whole of Europe, and attracted merchants from all countries. It was held in the month of June, and only lasted fifteen days. Goods of all sorts, both of home and foreign manufacture, were sold, but the sale of parchment was the principal object of the fair, to purchase a supply of which the University of Paris regularly went in procession. On account of its special character, this fair was of less general importance than the six others, which from the twelfth century were held at Troyes, Provins, Lagny-sur-Marne, Rheims, and Bar-sur-Aube. These infused so much commercial vitality into the province of Champagne, that the nobles for the most part shook off the prejudice which forbad their entering into any sort of trading association.

Fairs multiplied in the centre and in the south of France simultaneously. Those of Puy-en-Velay, now the capital of the Haute-Loire, are looked upon as the most ancient, and they preserved their old reputation and attracted a considerable concourse of people, which was also increased by the pilgrimages then made to Notre-Dame du Puy. These fairs, which were more of a religious than of a commercial character, were then of less importance as regards trade than those held at Beaucaire. This town rose to great repute in the thirteenth century, and, with the Lyons market, became at that time the largest centre of commerce in the southern provinces. Placed at the junction of the SaÓne and the RhÔne, Lyons owed its commercial development to the proximity of Marseilles and the towns of Italy. Its four annual fairs were always much frequented, and when the kings of France transferred to it the privileges of the fairs of Champagne, and transplanted to within its walls the silk manufactories formerly established at Tours, Lyons really became the second city of France.

It may be asserted as an established fact that the gradual extension of the power of the king, produced by the fall of feudalism, was favourable to the extension of commerce. As early as the reign of Louis IX. many laws and regulations prove that the kings were alive to the importance of trade. Among the chief enactments was one which led to the formation of the harbour of Aigues-Mortes on the Mediterranean; another to the publication of the book of "Weights and Measures," by Etienne Boileau, a work in which the ancient statutes of the various trades were arranged and codified; and a third to the enactment made in the very year of this king's death, to guarantee the security of vendors, and, at the same time, to ensure purchasers against fraud. All these bear undoubted witness that an enlightened policy in favour of commerce had already sprung up.

Philippe le Bel issued several prohibitory enactments also in the interest of home commerce and local industry, which Louis X. confirmed. Philippe le Long attempted even to outdo the judicious efforts of Louis XI., and tried, though unsuccessfully, to establish a uniformity in the weights and measures throughout the kingdom; a reform, however, which was never accomplished until the revolution of 1789. It is difficult to credit how many different weights and measures were in use at that time, each one varying according to local custom or the choice of the lord of the soil, who probably in some way profited by the confusion which this uncertain state of things must have produced. The fraud and errors to which this led may easily be imagined, particularly in the intercourse between one part of the country and another. The feudal stamp is here thoroughly exhibited; as M. Charles de Grandmaison remarks, "Nothing is fixed, nothing is uniform, everything is special and arbitrary, settled by the lord of the soil by virtue of his right of justesse, by which he undertook the regulation and superintendence of the weights and measures in use in his lordship."

Measures of length and contents often differed much from one another, although they might be similarly named, and it would require very complicated comparative tables approximately to fix their value. The pied de roi was from ten to twelve inches, and was the least varying measure. The fathom differed much in different parts, and in the attempt to determine the relations between the innumerable measures of contents which we find recorded--a knowledge of which must have been necessary for the commerce of the period--we are stopped by a labyrinth of incomprehensible calculations, which it is impossible to determine with any degree of certainty.

The weights were more uniform and less uncertain. The pound was everywhere in use, but it was not everywhere of the same standard (Fig. 201). For instance, at Paris it weighed sixteen ounces, whereas at Lyons it only weighed fourteen; and in weighing silk fifteen ounces to the pound was the rule. At Toulouse and in Upper Languedoc the pound was only thirteen and a half ounces; at Marseilles, thirteen ounces; and at other places it even fell to twelve ounces. There was in Paris a public scale called poids du roi; but this scale, though a most important means of revenue, was a great hindrance to retail trade.

In spite of these petty and irritating impediments, the commerce of France extended throughout the whole world.

The compass--known in Italy as early as the twelfth century, but little used until the fourteenth--enabled the mercantile navy to discover new routes, and it was thus that true maritime commerce may be said regularly to have begun. The sailors of the Mediterranean, with the help of this little instrument, dared to pass the Straits of Gibraltar, and to venture on the ocean. From that moment commercial intercourse, which had previously only existed by land, and that with great difficulty, was permanently established between the northern and southern harbours of Europe.

Flanders was the central port for merchant vessels, which arrived in great numbers from the Mediterranean, and Bruges became the principal depÔt. The Teutonic league, the origin of which dates from the thirteenth century, and which formed the most powerful confederacy recorded in history, also sent innumerable vessels from its harbours of Lubeck (Fig. 197) and Hamburg. These carried the merchandise of the northern countries into Flanders, and this rich province, which excelled in every branch of industry, and especially in those relating to metals and weaving, became the great market of Europe (Fig. 198).

The commercial movement, formerly limited to the shores of the Mediterranean, extended to all parts, and gradually became universal. The northern states shared in it, and England, which for a long time kept aloof from a stage on which it was destined to play the first part, began to give indications of its future commercial greatness. The number of transactions increased as the facility for carrying them on became greater. Consumption being extended, production progressively followed, and so commerce went on gaining strength as it widened its sphere. Everything, in fact, seemed to contribute to its expansion. The downfall of the feudal system and the establishment in each country of a central power, more or less strong and respected, enabled it to extend its operations by land with a degree of security hitherto unknown; and, at the same time, international legislation came in to protect maritime trade, which was still exposed to great dangers. The sea, which was open freely to the whole human race, gave robbers comparatively easy means of following their nefarious practices, and with less fear of punishment than they could obtain on the shore of civilised countries. For this reason piracy continued its depredations long after the enactment of severe laws for its suppression.

This maritime legislation did not wait for the sixteenth century to come into existence. Maritime law was promulgated more or less in the twelfth century, but the troubles and agitations which weakened and disorganized empires during that period of the Middle Ages, deprived it of its power and efficiency. The Code des Rhodiens dates as far back as 1167; the Code de la Mer, which became a sort of recognised text-book, dates from the same period; the Lois d'OlÉron is anterior to the twelfth century, and ruled the western coasts of France, being also adopted in Flanders and in England; Venice dated her most ancient law on maritime rights from 1255, and the Statutes of Marseilles date from 1254.

The period of the establishment of commercial law and justice corresponds with that of the introduction of national and universal codes of law and consular jurisdiction. These may be said to have originated in the sixth century in the laws of the Visigoths, which empowered foreign traders to be judged by delegates from their own countries. The Venetians had consuls in the Greek empire as early as the tenth century, and we may fairly presume that the French had consuls in Palestine during the reign of Charlemagne. In the thirteenth century the towns of Italy had consular agents in France; and Marseilles had them in Savoy, in Arles, and in Genoa. Thus traders of each country were always sure of finding justice, assistance, and protection in all the centres of European commerce.

Numerous facilities for barter were added to these advantages. Merchants, who at first travelled with their merchandise, and who afterwards merely sent a factor as their representative, finally consigned it to foreign agents. Communication by correspondence in this way became more general, and paper replaced parchment as being less rare and less expensive. The introduction of Arabic figures, which were more convenient than the Roman numerals for making calculations, the establishment of banks, of which the most ancient was in operation in Venice as early as the twelfth century, the invention of bills of exchange, attributed to the Jews, and generally in use in the thirteenth century, the establishment of insurance against the risks and perils of sea and land, and lastly, the formation of trading companies, or what are now called partnerships, all tended to give expansion and activity to commerce, whereby public and private wealth was increased in spite of obstacles which routine, envy, and ill-will persistently raised against great commercial enterprises.

For a long time the French, through indolence or antipathy--for it was more to their liking to be occupied with arms and chivalry than with matters of interest and profit--took but a feeble part in the trade which was carried on so successfully on their own territory. The nobles were ashamed to mix in commerce, considering it unworthy of them, and the bourgeois, for want of liberal feeling and expansiveness in their ideas, were satisfied with appropriating merely local trade. Foreign commerce, even of the most lucrative description, was handed over to foreigners, and especially to Jews, who were often banished from the kingdom and as frequently ransomed, though universally despised and hated. Notwithstanding this, they succeeded in rising to wealth under the stigma of shame and infamy, and the immense gains which they realised by means of usury reconciled them to, and consoled them for, the ill-treatment to which they were subjected.

At a very early period, and especially when the Jews had been absolutely expelled, the advantage of exclusively trading with and securing the rich profits from France had attracted the Italians, who were frequently only Jews in disguise, concealing themselves as to their character under the generic name of Lombards. It was under this name that the French kings gave them on different occasions various privileges, when they frequented the fairs of Champagne and came to establish themselves in the inland and seaport towns. These Italians constituted the great corporation of money-changers in Paris, and hoarded in their coffers all the coin of the kingdom, and in this way caused a perpetual variation in the value of money, by which they themselves benefited.

In the sixteenth century the wars of Italy rather changed matters, and we find royal and important concessions increasing in favour of Castilians and other Spaniards, whom the people maliciously called negroes, and who had emigrated in order to engage in commerce and manufactures in Saintonge, Normandy, Burgundy, Agenois, and Languedoc.

About the time of Louis XI., the French, becoming more alive to their true interests, began to manage their own affairs, following the suggestions and advice of the King, whose democratic instincts prompted him to encourage and favour the bourgeois. This result was also attributable to the state of peace and security which then began to exist in the kingdom, impoverished and distracted as it had been by a hundred years of domestic and foreign warfare.

From 1365 to 1382 factories and warehouses were founded by Norman navigators on the western coast of Africa, in Senegal and Guinea. Numerous fleets of merchantmen, of great size for those days, were employed in transporting cloth, grain of all kinds, knives, brandy, salt, and other merchandise, which were bartered for leather, ivory, gum, amber, and gold dust. Considerable profits were realised by the shipowners and merchants, who, like Jacques Coeur, employed ships for the purpose of carrying on these large and lucrative commercial operations. These facts sufficiently testify the condition of France at this period, and prove that this, like other branches of human industry, was arrested in its expansion by the political troubles which followed in the fourteenth and fifteenth centuries.

Fortunately these social troubles were not universal, and it was just at the period when France was struggling and had become exhausted and impoverished that the Portuguese extended their discoveries on the same coast of Africa, and soon after succeeded in rounding the Cape of Good Hope, and opening a new maritime road to India, a country which was always attractive from the commercial advantages which it offered.

Some years after, Christopher Columbus, the Genoese, more daring and more fortunate still, guided by the compass and impelled by his own genius, discovered a new continent, the fourth continent of the world (Fig. 199). This unexpected event, the greatest and most remarkable of the age, necessarily enlarged the field for produce as well as for consumption to an enormous extent, and naturally added, not only to the variety and quantity of exchangeable wares, but also to the production of the precious metals, and brought about a complete revolution in the laws of the whole civilised world.

Maritime commerce immediately acquired an extraordinary development, and merchants, forsaking the harbours of the Mediterranean, and even those of the Levant, which then seemed to them scarcely worthy of notice, sent their vessels by thousands upon the ocean in pursuit of the wonderful riches of the New World. The day of caravans and coasting had passed; Venice had lost its splendour; the sway of the Mediterranean was over; the commerce of the world was suddenly transferred from the active and industrious towns of that sea, which had so long monopolized it, to the Western nations, to the Portuguese and Spaniards first, and then to the Dutch and English.

France, absorbed in, and almost ruined by civil war, and above all by religious dissensions, only played a subordinate part in this commercial and pacific revolution, although it has been said that the sailors of Dieppe and Honfleur really discovered America before Columbus. Nevertheless the kings of France, Louis XII., Francis I., and Henry II., tried to establish and encourage transatlantic voyages, and to create, in the interest of French commerce, colonies on the coasts of the New World, from Florida and Virginia to Canada.

But these colonies had but a precarious and transitory existence; fisheries alone succeeded, and French commerce continued insignificant, circumscribed, and domestic, notwithstanding the increasing requirements of luxury at court. This luxury contented itself with the use of the merchandise which arrived from the Low Countries, Spain, and Italy. National industry did all in its power to surmount this ignominious condition; she specially turned her attention to the manufacture of silks and of stuffs tissued with gold and silver. The only practical attempt of the government in the sixteenth century to protect commerce and manufactures was to forbid the import of foreign merchandise, and to endeavour to oppose the progress of luxury by rigid enactments.

Certainly the government of that time little understood the advantages which a country derived from commerce when it forbade the higher classes from engaging in mercantile pursuits under penalty of having their privileges of nobility withdrawn from them. In the face of the examples of Italy, Genoa, Venice, and especially of Florence, where the nobles were all traders or sons of traders, the kings of the line of Valois thought proper to make this enactment. The desire seemed to be to make the merchant class a separate class, stationary, and consisting exclusively of bourgeois, shut up in their counting-houses, and prevented in every way from participating in public life. The merchants became indignant at this banishment, and, in order to employ their leisure, they plunged with all their energy into the sanguinary struggles of Reform and of the League.

It was not until the reign of Henry IV. that they again confined themselves to their occupations as merchants, when Sully published the political suggestions of his master for renewing commercial prosperity. From this time a new era commenced in the commercial destiny of France. Commerce, fostered and protected by statesmen, sought to extend its operations with greater freedom and power. Companies were formed at Paris, Marseilles, Lyons, and Rouen to carry French merchandise all over the world, and the rules of the mercantile associations, in spite of the routine and jealousies which guided the trade corporations, became the code which afterwards regulated commerce (Fig. 200).