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322 and dug canals and made for better means of transportation. It demanded greater skill among the workmen and gave the merchant a better social position, while it weakened the power of the landed aristocracy.

SEA POWER

On the other hand, it caused very great misery. It made the natives in the colonies the victims of a most shameless exploitation. It exposed the citizens of the home country to an even more terrible fate. It helped in a great measure to turn every land into an armed camp and divided the world into little bits of territory, each working for its own direct benefit, while striving at all times to destroy the power of its neighbours and get hold of their treasures. It laid so much stress upon the importance of owning wealth that "being rich" came to be regarded as the sole virtue of the average citizen. Economic systems come and go like the fashions in surgery and in the clothes of women, and during the nineteenth century the Mercantile System was discarded in favor of a system of free and open competition. At least, so I have been told.