418.
After the death of John Basilides, his son Theodore revoked the patent which the English enjoyed for a monopoly of the Russian trade: when the queen remonstrated against this innovation, he told her ministers, that princes must carry an indifferent hand, as well between their subjects as between foreigners; and not convert trade, which, by the laws of nations, ought to be common to all, into a monopoly for the private gain of a few.[*] So much juster notions of commerce were entertained by this barbarian than appear in the conduct of the renowned Queen Elizabeth! Theodore, however, continued some privileges to the English, on account of their being the discoverers of the communication between Europe and his country.
The trade to Turkey commenced about the year 1583; and that commerce was immediately confined to a company by Queen Elizabeth.

Before that time, the grand seignior had always conceived England to be a dependent province of France;[**] but having heard of the queen's power and reputation, he gave a good reception to the English, and even granted them larger privileges than he had given to the French.
* Camden, p.

493.
** Birch's Memoirs, vol.i.p.

36 The merchants of the Hanse Towns complained loudly, in the beginning of Elizabeth's reign, of the treatment which they had received in the reigns of Edward and Mary.

She prudently replied, that as she would not innovate any thing, she would still protect them in the immunities and privileges of which she found them possessed.