As an economist, Davenant must on the whole be classed as an adherent of the mercantile theory. In opposition to the bullionists he points out that an energetic people with good seaports and a soil fertile in variety of commodities, can easily exchange its products for as much gold and silver as it may require. "Money," he says, "is the servant of trade -- at bottom no more than the counters with which men in their dealings have been accustomed to reckon." He seems to have considered, however, that the possessors of money in specie were in a position of advantage compared with the possessors, and would be sellers of commodities. "Those who stand possessed of the ready money have, in all times and all countries, given the law." Especially is this the case with persishable commodities, and articles of luxury, which should not be bought by any nation to large amount, except for the purposes of being re-sold. On the last ground he strongly supported the East India Company in the controversies which raged about 1697 on the subject of the importation of East India goods, and opposed the act which was passed in the supposed the act which was passed in the supposed interest of English manufacturers, forbidding the wearing or use of Indian silks and muslins. Such a measure would only benefit the French silk trade and encourage smuggling. "The natural way of promoting the woollen manufacture is not to force its consumption at home, but by wholesome laws to contrive that it may be wrought cheaply in England, which will enable us to command the markets abroad." Europe was foolish enough to be ready to pay for luxuries from India; much wealth could be gained by the nation which would act as the go-between; and for England to refuse to reap the harvest would be merely to leave it to the Dutch.