of France reduced Interest to six and a half per cent.; an indication of the great advance of France above England in commerce.
Dr.Howell says,[*] that Queen Elizabeth, in the third of her reign, was presented with a pair of black silk knit stockings by her silk-woman, and never wore cloth hose any more.

The author of the Present State of England, says, that about 1577, pocket watches were first brought into England from Germany.

They are thought to have been invented at Nurem berg.

About 1580, the use of coaches was introduced by the earl of Arundel.[**] Before that time, the queen, on public occasions, rode behind her chamberlain.
Camden says, that in 1581, Randolph, so much employed by the queen in foreign embassies, possessed the office of postmaster-general of England.

It appears, therefore, that posts were then established; though from Charles I.'s regulations in 1635, it would seem that few post-houses were erected before that time.
In a remonstrance of the Hanse Towns to the diet of the empire, in 1582, it is affirmed that England exported annually about two hundred thousand pieces of cloth.[***] This number seems to be much exaggerated.
In the fifth of this reign was enacted the first law for the relief of the poor.
A judicious author of that age confirms the vulgar observation, that the kingdom was depopulating, from the increase of enclosures and decay of tillage; and he ascribes the reason very justly to the restraints put oh the exportation of corn; while full liberty was allowed to export all the produce of pasturage, such as wool, hides, leather, tallow, etc.
These prohibitions of exportation were derived from the prerogative, and were very injudicious.