It is somewhat humiliating to the biographer of Locke to be obliged to confess that, in this respect, his theories on trade lag considerably behind those of an almost contemporary writer, Sir Dudley North, whose work has already been mentioned. Some of North's maxims are worthy of Adam Smith, and one wonders that, when once enunciated, they found so little currency, and were so completely ignored in both the literature and the legislation of the time. Here are a few, but the whole tract may be read in less than an hour: "The whole world, as to trade, is but as one nation or people, and therein nations are as persons." "The loss of a trade with one nation is not that only, separately considered, but so much of the trade of the world rescinded and lost, for all is combined together." "No laws can set prices in trade, the rates of which must and will make themselves; but, when such laws do happen to lay any hold, it is so much impediment to trade, and therefore prejudicial." "No man is richer for having his estate all in money, plate, &c., lying by him, but, on the contrary, he is for that reason the poorer. That man is richest whose estate is in a growing condition, either in land at farm, money at interest, or goods in trade." "Money exported in trade is an increase to the wealth of the nation; but spent in war and payments abroad, is so much impoverishment." "We may labour to hedge in the Cuckoo, but in vain; for no people ever yet grew rich by policies, but it is peace, industry, and freedom that brings trade and wealth, and nothing else." Some of Locke's opinions on trade and finance were undoubtedly erroneous, and it must be confessed that the little tract of Sir Dudley North supplies a better summary of sound economical doctrine than any which we can find in his writings; but then this brochure is merely a summary, with little of argument or elucidation, and perhaps it would be difficult to point to any previous or contemporary writer whose works are, on the whole, more important in the history of economical science than those of Locke. CHAPTER XII. LOCKE'S INFLUENCE ON THOUGHT.