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 kingdom. In almost every one of the private dwellings which fringed the Great Canal were to be seen plate, mirrors, jewellery, tapestry, paintings, carving, such as might move the envy of the master of Holyrood. In the arsenal were munitions of war sufficient to maintain a contest against the whole power of the Ottoman Empire. And, before the grandeur of Venice had declined, another commonwealth, still less favoured, if possible, by nature, had rapidly risen to a power and opulence which the whole civilised world contemplated with envy and admiration. On a desolate marsh overhung by fogs and exhaling diseases, a marsh where there was neither wood nor stone, neither firm earth nor drinkable water, a marsh from which the ocean on one side and the Rhine on the other were with difficulty kept out by art, was to be found the most prosperous community in Europe. The wealth which was collected within five miles of the Stadthouse of Amsterdam would purchase the fee simple of Scotland. And why should this be? Was there any reason to believe that nature had bestowed on the Phoenician, on the Venetian, or on the Hollander, a larger measure of activity, of ingenuity, of forethought, of self command, than on the citizen of Edinburgh or Glasgow? The truth was that, in all those qualities which conduce to success in life, and especially in commercial life, the Scot had never been surpassed; perhaps he had never been equalled. All that was necessary was that his energy should take a proper direction, and a proper direction Paterson undertook to give.

His esoteric project was the original project of Christopher Columbus, extended and modified. Columbus had hoped to establish a communication between our quarter of the world and India across the great western ocean. But he was stopped by an unexpected obstacle. The American continent, stretching far north and far south into cold and inhospitable regions, presented what seemed an insurmountable barrier to his progress; and, in the same year in which he first set foot on that continent, Gama reached Malabar by doubling the Cape of Good Hope. The consequence was that during two hundred years the trade of Europe with the remoter parts of Asia had