Page:Craik History of British Commerce Vol 3.djvu/11

 HISTORY

OF

CHAPTER X. THE FIRST QUARTER OF A CENTURY OF THE REIGN OF GEORGE III. A.D. 1760—1785.

Our modern system both of manufactures and trade, in most of its leading branches, may be regarded as taking its rise from the commencing portion of the reign of George III. Indeed, in our national history, generally, in our political as well as in our social system, what precedes that reign is, for the most part, for us of the present hour a yesterday which has run its course. Yet, in the progress of our industry as well as of our politics, the quarter of a century we are about to review was but the dawn of the busy day in the full light of which we now live and move.

The war with France and Austria, commonly called the Seven Years' War, lasted for little more than two years after the accession of George III., on the 25th of October, 1760; the preliminaries of peace having been signed at Fontainebleau on the 3rd of November, 1762. And, notwithstanding the accession of Spain to the family confederacy against England ten or twelve months before the termination of hostilities, the course of success in our military operations both by sea and land, in the midst of which the late king died, was kept up with little abatement to the end of the contest. Nor had the war at any time, except very slightly during the first year or two, checked the progress of our foreign trade; at least, the annual value of our exports had continued to increase VOL. III. B