the Danish West India and Guinea Company, in the year 1671, and to repeat some of the circumstances which have been already mentioned.

From the title this company assumed, it would appear, that it was to the cultivation of the soil, rather than to Commerce, that its members looked for the success of their undertaking; and that this cultivation was to be carried on by the only means then adopted by all nations possessing colonies in these islands, namely, the importation of slaves from the coast of Africa. It was not, however, until eight years after the colony in St. Thomas was formed, than an expedition was dispatched, having for its object the importation of negroes. The company monopolized this traffic, as far as their own colonies were concerned, and in time supplied them all with the strength required for their cultivation. From the nature of the soil, and the present condition of agriculture in the Island of St. Thomas, it is difficult to imagine that any great return was obtained for the expense incurred in that island, and it does not appear that the company ever arrived at any great pitch of prosperity.

We have seen that another privileged association was formed in 1685, called the Brandenburg Company. Notwithstanding its name, the partners in it were almost exclusively Dutch. Commerce was their object, and they were very soon engaged in an extensive and lucrative trade. We are left very much to conjecture as to the nature of their Commerce. It does not appear that they were permitted to share with the Danish company in the slave-trade, and it is more than probable they dedicated themselves to the importation of provisions, and the manufactures of their native country, as well as other European nations, which they disposed of for the consumption of St. Thomas, the neighboring Antilles, and the Spanish colonies on the Continent of South America. This they were enabled to do the more advantageously, since from the general neutrality of Denmark in the wars of Europe, her flag was a protection at sea, and her port an open one to all comers. This neutrality was an especial source of the prosperity of St. Thomas, for the prizes of the different belligerent powers that were captured in the West Indies were frequently brought to its port for sale; and thus an extensive entrepot of the productions of almost every country was established, and the island no doubt soon became the resort of trading vessels from all points of the West Indies and South America, when they dared not, for fear of capture, venture on more distant voyages.

The Charter of the Brandenburg Company expired in 1716, leaving the trade once more in the hands of the West India and Guinea Company, in which his majesty, the king of Denmark, had, from the beginning, been a principal shareholder. This association retained the entire monopoly of Commerce, excluding all other Danish subjects from any participation in it, yet so completely was it wanting in the energy necessary to command success in such pursuits, that it never went beyond the employing of one vessel of no very great burden in importing slaves into the colony, and carrying thence its products to Denmark. In order that the inhabitants should not altogether starve, or be driven from the island, permission was afforded to the Dutch, and the British colonists of North America, to introduce provisions and merchandise. With this opening the sagacious and enterprising Dutchmen soon made themselves entire masters of the Commerce. The jealousy of the Danes was forthwith excited, and on the accession of several merchants of Copenhagen as partners of the company, it was once more decided to annul the new privileges which had been granted to Holland. This

state of things lasted for several years, during which the company held almost sovereign sway in the island. In one branch of its prerogative, however, it was perfectly ready to admit the general body of the colonists to a participation, or even to cede it to them altogether. This was the payment of the force necessary for its protection. Accordingly we find it stated in an old record of the year 1726, that after many disputes, the colonists undertook to relieve the company of the charge altogether. In this they were no doubt induced by the hope of improving their own situation, which had become anything but agreeable from the oppressions and exactions of the company.

The inhabitants at last, in 1775, succeeded in inducing the king to interfere in their behalf. His majesty took over the company's rights, and held the management of the colonies in his own hands. The policy at first adopted, however, continued to be of a restricted nature, ill suited to promote the prosperity of an island possessed of but small internal resources, and having little but its excellent harbor and central situation to recommend it. Symptoms of decay became apparent, and to remedy this the king very wisely, in 1764, threw open the port to vessels of all nations. This was confirmed in 1766, when the duties were so arranged that, though nominally higher, their actual amount was not over one-and-a-half per cent on the value of the importations.

It is somewhat singular, that this freedom of trade was especially extended to St. John's, and that that island was considered as the fittest to become the seat of the flourishing Commerce which was expected to result from the adoption of this liberal measure.

From 1766 to 1792, we have but few records to assist us in describing the commercial progress of St. Thomas. The absence of all restrictions on Commerce and navigation in this little island, surrounded as it was by countries where a very different policy prevailed, soon attracted the notice of enterprising Europeans to it, as a point from which the manufactured goods of their respective countries could be easily introduced into the islands and continent in its vicinity, whence they would, no doubt, draw a very large profitable return in the valuable products of these places. Thus the population was considerably increased, and it became of that mixed character which it retains to this day; and possibly about this period were established some of the old commercial houses whose lineal or indirect successors are, in some instances, still flourishing in the island.

During this interval, too, the British colonies in North America had thrown off the yoke of England; and we are safe in surmising that the enterprising merchants of the infant republic were not slow to avail themselves of this opening for the extension of their Commerce in the West Indies. Accordingly we find it stated in an unpretending volume of memoranda relating to St. Thomas,* that in 1792, on the author's arrival, "the greatest part of the shipping that came into the harbor were American vessels, small Spanish sloops and boats, and large English merchantmen." But it does not appear that any Americans had as yet settled in the island.

By this time, then, the importations of manufactured goods from Europe, and provisions from the United States, must have reached a respectable amount. The "Spanish sloops and boats" mentioned, were no doubt part

• Nissen's Reminiscences.

of the customers who took off these importations, leaving in exchange for them specie, in the shape of dollars, doubloons, &c.

An immensely increased impetus was given to the Commerce of St. Thomas by the breaking out of the war in 1792, consequent upon the French revolution. The island then profited by the neutrality maintained by Denmark. It became the only market in the West Indies for the products of all the colonies, and the only channel through which they could be conveyed to the countries in the north of Europe. The resort to it of mercantile speculators from all quarters, brought a large addition to its population; and the author before quoted informs us, that many stores and houses were built, and that in the year 1793 one hundred and four persons took out burgher briefs; that is, paid the tax required to qualify them to begin business in the colony.

The war naturally raised the price of West India productions in Europe to an enormous degree; and though St. Thomas had but little of these productions of her own to export, great quantities came pouring in for sale, and were transmitted to Europe and America in neutral vessels, in order to avoid the cruisers of the nations that were at war with each other. On the other hand, large importations of merchandise arrived from Europe, and of flour and other provisions from the United States, which were immediately sold and dispersed among the British, Spanish, and French colonies. This trade was greatly molested by British and French privateers, particularly the former, which were by far the more numerous, and the more indefatigable in their vocation. Loud complaints were made of this state of things; but all who reflected on the subject clearly saw that it was to the very circumstances complained of, that they owed the immense profits derived from their adventures, when they managed to steer clear of the dangers by which they were surrounded.

A short interruption to this prosperity occurred in 1801, when the island was given up to the British, who held it, however, for only ten months. Early in 1802 it was restored to Denmark, and resumed all its former activity. The harbor was again crowded with German, Danish, English, French, and Spanish vessels, besides a few from the Mediterranean ports, and many belonging to the United States.

Immense losses in merchandise and other property were sustained by fires in 1804 and 1806, but these losses were speedily surmounted, and the restored parts of the town always assumed a much more substantial and regular appearance than they had worn before the accidents occurred.

The British commissariat department in the West Indies had frequently recourse to St. Thomas for the purpose of raising the large amounts of specie required for the payment and provisions of its sea and land forces. This was accomplished by the sale of bills drawn upon the royal treasury in London, which were readily bought up by the English and other merchants. The rate at which the bills were sold-frequently $4 50 per pound sterling-was, in itself, a source of considerable gain to the purchasers.

Late in the year 1807, St. Thomas was again, by capitulation, transferred to Great Britain, who, however, this time retained it nearly eight years, or until April, 1815. The first result of the change of masters was an increase in the prices of all kinds of American provisions, timber, &c., and a scarcity, or rather almost total absence, of all the German, French, Spanish, and Italian commodities, to which the inhabitants had been so long accustomed. The harbor was no longer gay with the flags of all nations, although there

or four times a year a sight of surpassing interest was to be seen in the assembling of the numerous homeward bound English ships at St. Thomas, for the purpose of obtaining the benefit of the convoy of men-of-war appointed to protect them on their voyage. The number of merchant ships varied according to the season of the year. The convoy, which sailed in the month of August, frequently numbered not fewer than four hundred, while the smallest was composed of at least a hundred vessels. It must have been a sight of no common interest to witness the departure of so numerous a fleet, even though composed of merchant vessels. Many of them were of a large class, and partly armed, while all no doubt did their utmost to make a respectable appearance under the eyes of so many observers, and to avoid the stigma of laggard, from their proud and majestic conductors-the men-of-war.

Trade during these years languished, but was not annihilated. What remained of it was turned into a different channel. The manufactures of the northern and middle countries of Europe were imported in British vessels by way of England, and considerable quantities of foreign West India produce found its way through St. Thomas to the English market, introduced, no doubt, as the growth of a British possession. American provisions, and lumber of all kinds, were received through the small Swedish island of St. Bartholomew, which had also been made a free port; and from British North America were received the productions of that country direct. Great Britain, of course, supplied the island with her manufactures in abundance, and Ireland sent provisions and linens; but the change from a neutral, to the flag of a belligerent power, rendered it infinitely more difficult to dispose of their importations to advantage.

In April, 1815, the Danes again became masters of the island. Foreign vessels speedily arrived laden with the goods that had so long been prohibited. Numbers of the smaller class of vessels, schooners, sloops, &c., were put under Danish colors, and adventures to the other West India islands and the Spanish main, were resumed with the same activity as in former times. Produce once more poured into the island, and many Danish ships were loaded and dispatched for the European markets.

Commerce was again molested by privateers, but this time they sailed under the Columbian and Buenos Ayrean flags, and continued to commit depredations during the entire continuance of the war of independence between Spain and her South American Colonies-that is from 1808 to 1825. These pretended privateers had, in many cases, no right to the flags they had assumed, and were in fact, nothing better than pirates, who took indiscriminately whatever came in their way that was worth capturing and weaker than themselves, adding frequently to their other crimes, the wanton slaughter of the crews or passengers they found in their prizes.

The South American struggle for independence brought a new addition to the population by the emigration from that country to St. Thomas, of many of its inhabitants, principally natives of Old Spain. In some cases the fugitives brought with them means sufficient to begin business, and some of them became afterward among the wealthiest merchants of the island.

When it became evident to the European powers that the South Americans could succeed in throwing off the yoke of the mother country, their enterprising merchants began already to meditate the opening of a direct trade with these rich and fertile regions, and as early as 1824 direct importations were made at various of the Columbian ports. This, of course, was

so much withdrawn from the Commerce of St. Thomas; but, in the mean time, the Island of Porto Rico had so increased in its population and productions, as in a great degree to make up the loss of the South American

trade.

St. Thomas has gone on prospering up to the present day. Some, however, suppose its prosperity has now reached its culminating point, and that it cannot hope long to maintain the important position it has acquired. Those who thus predict its decay, point chiefly to some attempts that are now making in Porto Rico to follow the example of South America, by establishing a direct trade with the manufacturing countries of Europe and America. But the usual blindness of Spanish commercial policy is too evident in the steps that are taken for that purpose, to admit of the slightest probability of their success. The St. Thomas trade with that island has long lost its original character of a cash business, and for many years the most liberal and extended credits have been afforded to the Spanish dealers. These facilities have been the means of creating a large and respectable class of shopkeepers in Porto Rico, from whom by far the greatest part of the custom-house revenues is derived; and indeed, not a few of the sugar plantations of the island have been established by means of the facilities thus afforded by St. Thomas. And this is the sort of connection which, by a most unreasonable scale of differential duties against importations from St. Thomas, the Porto Rico authorities are doing all they can to put an end to. In the mean time, a few individual traders of the Spanish island, and possibly some of the authorities themselves, are reaping large advantages from the present state of things; while the numerous body of shopkeepers, before mentioned, see the lucrative occupations they have been so long accustomed to, trammeled by the unwise measures of their own rulers, and only for the purpose of enriching a few individuals, principally we believe foreigners, who are there for the sole purpose of acquiring wealth with which to remove as soon as possible to their own countries. The Spanish traders complain, not indeed loudly, but deeply, while they are in St. Thomas, of the injuries they sustain by these measures; but their dread of expulsion, or other punishment, deters them from making their complaints known to the Cortes of Spain, the only quarter whence they might possibly hope to receive redress.

The result of the Porto Rico policy will probably be that which invariably follows unreasonable restrictions on Commerce, namely, the increase of smuggling, and consequently empty coffers in the custom-houses, while its destructive effect on the morality of the population, is perhaps, still more to be deplored.

St. Thomas, as the principal rendezvous of the British steam-packets, and from its central situation in the great route from Europe to the rich countries now opening upon the Pacific ocean, will, we hope, still continue to prosper, even should its Spanish neighbors succeed (which, however, does not seem likely) in dispensing with her connection.*

At present, the value of goods imported into St. Thomas may be set down at $5,000,000; probably half of which comes from Europe, about $1,000,000 from the United States and British America, and the rest from

Since the above was written, the Government of Spain, apparently actuated by sounder views of commercial policy than its colonial deputies, has seen fit to order the withdrawal of the greater part of the differential duties on importations from St. Thomas, and from the 1st of November of this year, they will be reduced to 24 per cent. Vessels under the Spanish flag, however, when coming from St. Thomas, will continue to be treated as foreign as far as their cargoes are concerned.