It was during this reign, on the second of August, 1492, a little before sunset, that Christopher Columbus, a Genoese, set out from Spain on his memorable voyage for the discovery of the western world; and a few years after, Vasquez de Gama, a Portuguese, passed the Cape of Good Hope, and opened a new passage to the East Indies. These great events were attended with important consequences to all the nations of Europe, even to such as were not immediately concerned in those naval enterprises. The enlargement of commerce and navigation increased industry and the arts every where; the nobles dissipated their fortunes in expensive pleasures: men of an inferior rank both acquired a share in the landed property, and created to themselves a considerable property of a new kind, in stock, commodities, art, credit, and correspondence. In some nations, the privileges of the commons increased by this increase of property: in most nations, the kings, finding arms to be dropped by the barons, who could no longer endure their former rude manner of life, established standing armies, and subdued the liberties of their kingdoms: but in all places, the condition of the people, from the depression of the petty tyrants by whom they had formerly been oppressed rather than governed, received great improvement, and they acquired, if not entire liberty, at least the most considerable advantages of it. And as the general course of events thus tended to depress the nobles and exalt the people, Henry VII., who also embraced that system of policy, has acquired more praise than his institutions, strictly speaking, seem of themselves to deserve on account of any profound wisdom attending them. * 19 Henry VII. cap. 7 gates. ** 19 Henry VII. cap. 8. *** 10 Henry VII. cap. 18. **** 12 Henry VII. cap. 6.