Page:History of merchant shipping and ancient commerce (Volume 2).djvu/120

 inquire discovered that the Steel-Yard traders, though exempted from the alien duties, had largely defrauded the revenue by giving rights of denizenship to foreigners, the Crown deprived them of many of their most valuable privileges, and practically revoked their charter.

Nor is it surprising that foreigners should have so long held in their hands the largest share of the maritime commerce of England, though when Henry VIII. ascended the throne there were no reliable accounts of its extent. A sort of haphazard mode of conducting business was then the rule of her merchants, who had then no means of early and accurate information of what their foreign competitors were doing, or of the quantity or quality of merchandise they themselves required; moreover, their commercial laws were so ill defined and so liable to uncertain and extraordinary changes that no dependence could be placed upon them. Hence it was that Henry endeavoured to give consistency to his legislative measures, though even these (as might have been expected) were in most instances far from perfect; as, for instance, when he attempted to regulate the price of labour, and to determine by law what sum each employer should pay to the labourers and others they employed. No doubt there was*