Early liberalism was a product of England and Holland, and had certain well-marked characteristics. It stood for religious toleration; it was Protestant, but of a latitudinarian rather than of a fanatical kind; it regarded the wars of religion as silly. It valued commerce and industry, and favoured the rising middle class rather than the monarchy and the aristocracy; it had immense respect for the rights of property, especially when accumulated by the labours of the individual possessor.
