[174] In our time these doctrines may probably be considered, not only as sound, but as trite and obvious.

In the seventeenth century, however, they were thought paradoxical.

It was then generally held to be a certain, and indeed an almost selfevident truth, that our trade with the countries lying beyond the Cape of Good Hope could be advantageously carried on only by means of a great Joint Stock Company.

There was no analogy, it was said, between our European trade and our Indian trade.

Our government had diplomatic relations with the European States.