ecessity; but, when
they became affluent, energy and unanimity left them. The
manufacturers became merchants, and the merchants became agents
and carriers; so that the solid sources of riches gradually disappeared.

All this time, taxation increased, and though no nation ever allowed its
manners to be less corrupted by the possession of wealth, yet there
was a sensible change; but the change in the way of thinking was the
most pernicious. Discontent with the government, and disagreements
amongst themselves, completed their misfortunes, while England was
[end of page #66] all the time endeavouring to supplant them in the
most beneficial sources of their wealth.

The Dutch, fairly sunk by that rivalship, and natural change of things,
which transfers the seat of wealth and commerce from one nation to
another. There was no violent revolution, no invasion by an enemy; it
was the silent operation of that cause of decline, which has been
already mentioned in the Second Chapter, and will be farther and
more particularly illustrated and explained.

The Dutch had a superabundance of capital; the interest of money was
low; and wealth had begun to leave Holland long before the symptoms
of decay became visible; by which means, the trade of other countries
was encouraged, and, as always will be the case, capital emigrated, the
moment it could find secure employment, and greater profits than
were to be obtained at home. The leading causes of the decline of
Holland may be distinguished thus:

The taxes were gradually increasing.

Its superiority in manufactures over other countries was continually
diminishing; consequently, industry was not so well rewarded, and
less active.

The merchants preferred safe agencies for foreigners to trading on
their own bottom, thereby lending their credit.

Dutch capital was employed to purchase goods in one country and sell
them in another: so that the Dutch became carriers for others, instead
of manufacturing and carrying for themselves.

The trade to India, and the banking business, were both taken up by
other nations; so that Holland then lost her superiority in these
branches.

Thus circumstanced, Holland was gradually sinking, when political
troubles, the end of which it is not easy to foresee, put her at the feet
of France: an event that would not have happened in the manner it did,
when the true spirit of patriotism reigned, that distinguished her in her
more prosperous days. From th