Enterprising men like Noel were prosperous enough, but their extended vision enabled them to complain intelligently of the decay of trade. In the year 1660 exports made not more than a fourth part of the eight and a half millions of England's foreign commerce. Money was scarce, interest high, rents and prices low. No one doubted that the effective remedy for these ills lay in establishing a "favorable balance of trade." But in the path of this achievement stood the old rivals of England--Holland, Spain, and France. Imports from France overbalanced exports thither in the proportion of 2.6 to 1.6. Spain still worked the rich silver veins of the Andes, and the conquest of Jamaica had opened English eyes to the high value of her West Indian possessions. Above all, the thrifty Dutch, intrenched in the East Indies and on the west coast of Africa, supplied Europe with the major part of Oriental products and denied England's right to share with them the honor and profit of importing slaves into Spanish America. To restore the balance of the French trade, and to contest with Holland and Spain for the lucrative commerce of the East and the West Indies was the underlying economic motive of the wars and diplomacy, as well as of the colonial policy of the Restoration period; it was for this that the Royal African and Hudson Bay Companies were organized; for this the Dutch and French wars were waged; for this regulations were enacted for trade and plantations. And to contemporaries the wisdom of such measures was evident in the result: at the close of the century, although imports remained approximately the same as in 1660, exports had reached the unprecedented figure of seven millions sterling.