There run through the writings of early authors on economic subjects two prominent ideas regarding commerce, one relating to its value and the other to its content. As regards the former Montesquieu, the immortal writer of the "Spirit of Laws", has tersely said: "the effect of commerce is riches; the consequence of riches, luxury; and that of luxury, the perfection of arts." The emphasis laid on not only the material but also the cultural value of commerce by early writers - a characteristic almost lacking in economic literature of the present day - is not difficult to understand. Trade among early civilized peoples, especially among the Greeks and, to a greater extent, the Romans was largely in the hands of foreigners and was essentially piratical in character. These conditions stamped trade as an unworthy occupation and perpetuated traditions and prejudices which have taken centuries to eradicate. The civilized world has, however, been gradually converted and but few writers of the present time think it worthwhile to demonstrate that the material advantages of trade are mutual and that commercial intercourse is civilizing in its effects.