ABSTRACT
THE mechanical discoveries of the nineteenth century resulted in a very great expansion of trade and commerce. From the state of trading locally, commerce after the Middle Ages had become national; but owing to difficulties of organization and transportation, international dealings were comparatively few. The shipment of a cargo of silk from India or China to Europe was still looked upon as a " venture," only to be undertaken after mature consideration. The Industrial Revolution which started in England and spread afterwards to the Continent and to America had a twofold result. By producing an unprecedented amount of goods available for trading purposes, and by inventing new means of locomotion, the way was opened for commerce to become a matter of world-wide interests.
