“Free Passage” for the “King's True Liegemen”: The Meaning of Free Trade in a Corporate Age, 1555–1624

Abstract

Abstract Scholars of late have come to reevaluate and appreciate the achievements of merchant companies that fostered commercial networks and established new global trade routes. This research would seem to lend support to historians who have characterized early seventeenth-century calls for “free trade” as mere sloganeering driven by provincial merchants suspicious of the London-dominated corporations. This article challenges this view and argues that free trade ideas had deep roots in early modern political culture. It traces the origins of these ideas to protests in the sixteenth century and shows how a broad coalition of interests drew upon ideas of property rights and the ancient constitution to challenge the new companies. So compelling were free trade arguments that they became a commonplace in the economic debates of an emerging public sphere. A reconsideration of the free trade campaign that is attentive to interactions and negotiations between the Privy Council, Parliament, and the public highlights the ability of the early modern state before the 1630s to readjust the political economy of the commonwealth.