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49 commercial legislation of Europe presents every possible contrivance for hampering the energies of commerce. Indeed, a very high authority, who has maturely studied this subject, has recently declared that if it had not been for smuggling trade could not have been conducted, but must have perished in consequence of this incessant interference. However paradoxical this assertion may appear, it will be denied by no one who knows how feeble trade once was, and how strong the obstacles were which opposed it. In every quarter, and at every moment, the hand of government was felt. Duties on importation, and duties on exportation; bounties to raise up a losing trade, and taxes to pull down a remunerative one; this branch of industry forbidden, and that branch of industry encouraged; one article of commerce must not be grown, because it was grown in the colonies, another article might be grown and bought, but not sold again, while a third article might be bought and sold, but not leave the country. Then, too, we find laws to regulate wages; laws to regulate prices; laws to regulate profits; laws to regulate the interest on money; custom-house arrangements of the most vexatious kind, aided by a complicated scheme which was well called the sliding scale,—a scheme of such perverse ingenuity that all duties constantly varied on the same article, and no man could calculate beforehand what he would have to pay. To this uncertainty, itself the bane of all commerce, there was added a severity of exaction, felt by every class of consumers and producers. The tolls were so onerous as to double and often quadruple the cost of production. A system was organized, and strictly enforced, of interference with markets, interference with manufactories, interference with machinery, interference even with shops. The towns were guarded by excisemen, and the ports swarmed with tide-waiters, whose sole business was to inspect nearly every process of domestic industry, peer into every package, and tax every article; while, that absurdity might be carried to its extreme height, a large part of all this was by way of protection: that is to say, the money was avowedly raised, and the inconvenience suffered, not for the use of the