The movement of capital, although considerably accelerated, still remained, however, relatively slow. The splitting-up of the world market into separate parts, each of which was exploited by a particular nation, the exclusion of competition among themselves on the part of the nations, the clumsiness of production itself and the fact that finance was only evolving from its early stages, greatly impeded circulation. The consequence of this was a haggling, mean and niggardly spirit which still clung to all merchants and to the whole mode of carrying on trade. Compared with the manufacturers, and above all with the craftsmen, they were certainly big bourgeois; compared with the merchants and industrialists of the next period they remain petty bourgeois. Cf. Adam Smith.