This study, based on a wide range of primary sources in England and Portugal, analyses the impressive growth of English trade with Portugal to 1760 and its subsequent decline in the 1760s, particular attention being given to the role of the Brazilian market and Brazilian gold-mining in these movements. The business practice of the merchants engaged in the principal constituent branches of the trade—textiles, foodstuffs, wines, and gold—is made clear and compared, while the characteristic instability of international commerce is borne out in the examination of the seasonal and yearly fluctuations which took place. On a more general level, the concluding chapter explores the relationship between the Portugal trade and the development of the English economy during this period. This book was first published in 1971.