Thucydides, in the introduction to his history, remarks that one of the principal causes that raised some of the Greek cities to such a high degree of prosperity and power was their engagement in mercantile pursuits. All the great peoples of antiquity by whom the shores of the Mediterranean were occupied—Phœnicians, Carthaginians, Etruscans, Ionians of Asia Minor—rose to wealth and importance by the same means. The Romans alone despised it. After the subversion of the Western Empire and the last inroads of the barbarians, the natives of Italy were the first to emerge from the ruins of the ancient world. Except religion, they found no worthier or more potent element of civilization than commerce, which procures, to use the words of a celebrated writer, what is of far greater value than mere money—“the reciprocation of the peculiar advantages of different countries”; and throughout the middle ages, until the passage to India by the Cape of Good Hope and the discovery of America, Italy was the most forward nation in Christendom for wealth, refinement of manners, and intellectual culture. Italian commerce reached its greatest development between the thirteenth and fifteenth centuries—that is, between the ages when Marco Polo travelled to Tartary, China, and the Indies and Christopher Columbus discovered America. In these two men, representatives of Venice and Genoa, are embodied the geniuses of trade and navigation; and as though Florence, seated between the rival cities and engaged rather in reaping the fruits than in sowing the seeds of enterprise, were destined to unite in herself the glory of both Italian shores, one of her citizens—Americus Vespucius—gives his name to the New World. This commerce began slowly but progressed rapidly, and attained its noblest proportions during the fourteenth century, when for a hundred years it spread over every sea and land then known in the eager search after riches, bringing back to its votaries whatever luxury Europe, Asia, and Africa produced or man’s invention had evolved out of the necessities of his nature. Next, it gradually fell away and almost disappeared in the sixteenth century, leaving behind it only the cold consolation that there was no reason why it alone should be excepted from the common doom of human affairs, which, when they have enjoyed a certain measure of success, must surely decline and fall.