ABSTRACT
If we look at the state of the European Powers after the conclusion of the Seven Years’ War by the Treaty of Paris in 1763, we shall see that England had achieved a very favourable position for the growth of her internal industries. 1 It is true that together with the rest of Europe she had adopted the policy of endeavouring to secure a sole market 2 for her goods, but though that policy was a mistake, in so far as it aimed at a monopoly, England was not alone in her error, and since other Powers were doing the same, it was just as well that she should hold the lead among them. Moreover, since we are now paying interest upon the heavy national bills which we ran up at that time, we may profitably examine what we gained thereby.
