In "sonnet xv," why does the speaker not think merchants need to seek for precious things in far away places? because england has enough riches and needs no more because he loves his lady enough that he needs nothing else because his lady contains all riches within herself

The answer is Because his lady contains all the riches within herself.

Sonnet XV is one of the poems from the collection of poems by Edmund Spencer called Amoretti, where he speaks about his love for Elizabeth Boil.

In this sonnet, he asks merchants why should they go so far to look for riches when his love in herself contains all the riches that can be found anywhere:

"Ye tradeful merchants, that with weary toil

do seek most precious things to make your gain,

and both the Indias of their treasures spoil,

what needeth you to seek so far in vain?

For loe my love doth in herself contain

all this world's riches that may far be found, (...)"

hi there!

one thousand and one nights, also called the arabian nights is a collection of middle eastern tales compiled in arabic during the islamic golden age, dated from the 8th to the 14th century. this collection was compiled of largely middle eastern and indian stories with an uncertain date and autorship whose tales such as aladdin, ali baba and sinbad the sailor -these ones were the most popular ones, the ones that have almost become part of western folklore.

as in much medieval european literature, the stories contained in this collection are set within a frame story. its scene is central asia, as known as "the islands or peninsulae of india and china", where king shahryar kills his wife after discovering her infidelities and as well as any other who betrayed him.   then, loathing all womankind, he marries and kills his new wife each day until no more candidates could have been found. his vizier had two daughters, scheherezade and dunyazad. the elder one -scheherezade- having devised a scheme to save herself and the others insisted that her father needed to give her in marriage to the king. each evening, she used to tell a story leaving it incomplete and promising to finish it the following night. the stories kept the king very interested, so eager to hear evey ending of each story, that he puts off her execution from day to day and finally he decided to give up with his plan. these stories are contained within the collection of 1001 nights, the bulk of the text is in prose, although verse is usually used for songs and riddles to express better the heightened emotion of them.

the underlined phrase is an example of : understatment