ABSTRACT
During the sixteenth and seventeenth century [too little liberty existed in Europe to allow] the first philosophers who occupied themselves with political economy to present their speculations to the world; and finances were enveloped in too profound a secrecy to admit of men, not engaged in public business, knowing facts enough to form the basis of general rules. Hence the study of political economy began with ministers, when once it had fortunately happened that kings put men at the head of their finances who combined talents with justice and love of the public weal. Under these circumstances the mercantile system was moulded into a plausible form; and doubtless it must have been plausible, since, even till our own times, it continued to seduce the greater part of practical men employed in trade and finance.
