It seems to be the destiny of mankind to rise into civilisation by continual struggles with difficulties which demand foresight and perseverance, and to nurture its virtues by industry and toil. In political experience, as well as in that of private life, few examples can be adduced of advantages won without labour ever arriving at a happy conclusion. In the history of Spain and Portugal the commencement of decay seems to be coeval with the extension of those Indian dominions which were supposed to be fountains of inexhaustible wealth. But, on the other hand, the most extraordinary instance of prosperous colonisation that occurs in the annals of the world, is to be seen in the long-neglected and comparatively unpromising region of North America, where nature's richest treasures could only be unlocked by the exertions of persevering industry.

The advantages of the Newfoundland fishery were soon fully appreciated by European states, and all those which possessed a marine hastened to secure a participation in it. About the year 1578, the English vessels employed in this fishery were about fifty in number. Above a hundred Spanish vessels at the same time were annually employed on those banks: there were fifty Portuguese, a hundred and fifty French, and twenty or thirty Biscayan ships; the last being chiefly engaged in the whale fishery.