Edinburgh Papers. Edinburgh Merchants and Merchandise in Old Times

In Short

This volume serves as a lecture-turned-history, examining the evolution of commerce in Scotland’s capital from the sixteenth century through the late seventeenth. It chronicles the transition from small-scale, restricted trading to a robust system of merchant companies and international exchange. By detailing the lives of prominent families who built wealth through imports, royal financing, and manufacturing, the work highlights the intersection of mercantile ambition and Scottish social mobility. It remains a valuable record of how Edinburgh’s economy navigated political volatility, religious strife, and the early, often misguided, attempts at protectionist legislation.

The Story

The narrative begins with a stark picture of early Scottish commerce, which was marginal at best until well after the reign of Robert the Bruce. In the early 1500s, Leith was little more than a village with a narrow, four-foot-wide access point, serving a fleet of small vessels that struggled to carry even modest loads of wool, skins, and salmon. The author establishes that, during this formative era, Edinburgh’s trade was hampered by a lack of infrastructure and a reliance on narrow, high-stakes routes.

As the sixteenth century progressed, the center of commercial life crystallized along the High Street. The city evolved into a place where two distinct worlds collided: the "Land-market," where local inland goods like yarn and cloth were sold, and the shops of the "Merchants," who dealt in more substantial imported wares. These traders occupied a unique social space. Despite the intermittent civil turmoil of the reigns of Mary, Queen of Scots, and James VI, a class of influential merchants emerged. Men like Edward Hope and Robert Gourlay managed to accumulate vast wealth—often through political favors, royal contracts, or monopolistic trade licenses—and built grand stone mansions that stood as testaments to their status.

The narrative arc follows these merchants as they transition from simple shopkeepers to the financiers of kings. The goldsmiths, in particular, rose to prominence; Thomas Foulis, for instance, became so vital to King James VI that he functioned essentially as a private bank, funding royal military campaigns in exchange for lead-mining rights. This period illustrates a trend where the younger sons of gentry felt no shame in pursuing trade, thereby bridging the gap between the landed aristocracy and the burgeoning middle class.

However, the seventeenth century brought severe disruptions. Religious conflict and the strain of civil wars, particularly the struggle against the English under Cromwell, brought the nation to the brink of bankruptcy. Commerce largely stagnated, and the subsequent "Restoration" era provided little relief, as the country suffered through economic policies that prioritized narrow protectionism over genuine growth. The founding of the Merchant Company of Edinburgh in 1681 marked a pivotal attempt at stabilization, though it was born during a time of public hangings and intense political instability. The final movement of the history focuses on the Company’s institutional growth—its acquisition of grand halls, the creation of charitable funds for "decayed members," and the establishment of schools for the children of its associates. By the time the account closes in the late 1600s, the merchant class had firmly cemented its role as the backbone of the city’s civic and political leadership, even while navigating the corruption and "false political economy" of the age.

How It Unfolds

The humble beginnings The account opens by debunking the idea of a glorious early commercial past, describing Leith as a tiny, underdeveloped harbor. It highlights the physical constraints of the era, where goods were transported through narrow alleys on horseback rather than through organized shipping lanes.

The rise of the merchant class The narrative shifts to the sixteenth-century High Street, distinguishing between the small-scale "krames" and the larger shops of the established merchants. It details how these traders navigated the social hierarchy to influence national politics and establish dynastic wealth.

The financiers of the crown Focusing on the goldsmiths, the story showcases how merchant wealth became essential to royal survival. It tracks the transformation of commercial profit into landed estates, cementing the status of families that would influence Scotland for centuries.

The impact of political strife The account details how religious and political turmoil paralyzed trade during the seventeenth century. It explains the devastating effect that war and the presence of foreign armies had on the nation’s ability to conduct business or innovate.

The formation of the Merchant Company The final section covers the 1681 charter of the Merchant Company of Edinburgh. It describes the group’s early efforts to regulate trade, manage charitable legacies, and provide for the families of its members amidst a changing legal landscape.

The People

• Edward Hope: A merchant of French descent who operated a shop in the Luckenbooths. He symbolizes the bridge between foreign influence and local power, acting as a commissioner for the Reformation and founding a family line that would eventually reach high rank and wealth.
• Robert Gourlay: An influential merchant whose house served as a hub for both commerce and royal retreat. His career serves as a cautionary tale of the era, as he was forced to perform public penance for unethical trade practices yet remained close enough to the Regent to host him before his execution.
• Thomas Foulis: A preeminent goldsmith who rose to be the king’s primary creditor. He represents the peak of individual merchant power, where private wealth sustained national military efforts and led to the acquisition of massive industrial assets like lead mines.
• William Dick: A titan of the seventeenth-century mercantile world whose vast fortune was eventually consumed by his support for the Covenanting cause. His rise and subsequent ruin emphasize the volatility of tying private mercantile wealth to the turbulent politics of the Scottish state.
• Sir Alexander Brand: A later merchant and bailie who represents the era of government contracts and institutional influence. His dealings with state officials and his participation in the Merchant Company reflect the transition of trade into a more structured, albeit politically tangled, professional class.

In Its Own Voice

"One may have some idea of the pettiness of any external trade carried on by Edinburgh in the early part of the sixteenth century, from what we know of the condition of Leith at that time."

The author sets the stage for the modest reality of Scotland’s early international commerce.

"There was then but a meagre traffic carried on with the Low Countries, France, and Spain—wool, skins, and salmon carried out; and wine, silks, cloth, and miscellaneous articles imported."

This list serves as a summary of the limited goods that formed the foundation of early Scottish export and import.

What It's Really About

The book explores the tension between individual ambition and the stifling effect of government intervention. It argues that Scotland’s economic history was repeatedly damaged by "false maxims"—protectionist laws that sought to hoard coin and restrict trade but only succeeded in slowing industrial development. Beneath the anecdotes of successful families lies a deeper inquiry into the nature of social mobility: how a society evolves when "gentlefolks" begin to embrace trade as an honorable pursuit. It questions whether prosperity is the result of government planning or, as the author suggests, the accidental byproduct of those who were willing to break restrictive laws in favor of practical reality.

Why Read It Today

This book is essential for those interested in the social history of Edinburgh or the way mercantile families built the infrastructure of modern cities. The prose is warm and conversational, reading more like a well-researched lecture than a dry academic report. Readers will find the author’s candid assessment of his ancestors refreshing; he does not shy away from the corruption, the "false political economy," or the religious bitterness that hindered the nation’s growth.

However, be aware that the text assumes a degree of familiarity with Scottish geography and history. The author frequently references local landmarks, obscure historical figures, and archaic terms—such as "krames," "poind," or "laigh shops"—that may require a reader to slow down or consult a dictionary. Additionally, the author’s Victorian-era perspective on "progress" is evident; he views the past through the lens of nineteenth-century industrial optimism, which occasionally colors his judgment of the seventeenth-century actors. Despite these challenges, the book rewards the reader with a vivid, grounded look at how a city built its fortune. What stays with the reader is the realization that even the most prestigious noble families of the nineteenth century often had their origins in the dusty, narrow "booths" of a much older, more volatile Edinburgh.