The reign of James I., covering the first quarter of the seventeenth century, coincides with the period of perhaps the greatest economic confusion in our history. The seeds of England's future greatness as a commercial nation and maritime power had been sown under Elizabeth's rule. In James's reign it was yet too soon for these to bear fruit. It was a critical period for the country which was undergoing an apprenticeship in commerce, trade, and industry. It was as yet doubtful whether she would surmount the difficulties with which she was beset, or whether she would be crushed by their weight.