THE
CENTER
OF
THE
CIRCLE
OF
COMMERCE
.
OR
,
A
Refutation
of
a
Treatise
,
intituled
The
Circle
of
Commerce
,
lately
published
by
E.
M.
The
Proeme
.
STrong
imagination
,
nourished
by
opinion
,
may
cause
most
men
to
suppose
,
that
Edward
Misselden
,
The
Circle
of
Commerce
:
and
imagining
that
Giotto
the
Painter
(
hauing
in
the
turning
of
an
hand
made
a
perfect
Circle
without
a
Compasse
:
)
was
the
cause
thereof
.
I
did
instantly
perceiue
,
that
the
comparison
was
most
proper
and
apt
,
to
make
the
matter
perspicuous
:
for
euen
as
the
Circle
of
Giotto
,
was
made
without
a
Center
,
even
so
is
his
Circle
of
Commerce
,
without
substance
or
Center
,
like
vnto
a
stone
cast
into
a
standing
water
,
which
maketh
a
Circle
,
and
that
circle
begetteth
many
Circles
vpon
circles
:
but
at
last
they
all
vanish
away
,
and
leaue
neither
Center
nor
any
thing
beside
to
build
vpon
.
For
when
I
doe
compare
his
circle
to
the
Celestiall
Sphere
,
Blazing
starrs
of
Adulation
;
and
with
diuers
Meteors
of
watry
vapours
of
high
presumption
;
&
then
approaching
neere
to
the
Starres
,
I
doe
find
him
to
endevour
,
that
all
his
inferrences
,
might
be
as
powerfull
,
as
their
influences
to
revenge
his
quarrell
against
me
,
which
concerneth
the
whole
kingdome
.
In
the
great
and
litle
Beare
,
an
accusation
of
Scandalum
Magnatum
.
In
the
Dragons
Taile
,
vox
Pecudis
concerning
the
whole
kingdome
.
In
Hercules
a
Club
to
defend
the
errors
of
Marchants
.
In
Serpentario
,
calumniation
&
detraction
.
In
Agitator
,
Logicke
turned
into
Rimes
&
rayling
.
In
Pegasus
,
vaine
imaginations
,
swimming
in
his
braine
:
In
the
Whales
belly
,
In
the
little
fish
,
euerstriuing
contradictions
.
In
the
great
and
little
Dog
,
barking
and
biting
.
In
the
Ship
,
he
is
sayling
without
a
Rudder
or
Compasse
.
In
Centaure
,
frenzies
and
biting
scurrility
.
In
Putius
,
A
puddle
of
vntruthes
.
In
vultur
volans
:
a
devouring
of
fame
.
In
the
Harpe
,
noyses
and
vnpleasant
tunes
.
In
the
Triangle
,
dreames
of
Iewes
and
Grecians
.
In
Andromuda
,
accusation
of
ignorance
.
In
Perseo
,
scandelous
Aspertions
.
In
the
crowne
,
presumptuous
exhortations
to
Superiours
.
In
Sepheo
,
obstinacy
&
vayne
disputations
.
In
Orion
,
matter
and
forme
by
former
&
later
.
In
vultur
Cadens
,
deprivation
of
modestie
.
In
the
cup
A
defence
of
Vinteners
.
In
the
Swanne
,
a
preiudicating
humor
.
In
the
Crowe
,
vexation
of
innocence
.
In
the
Dolphine
,
An
intention
of
fishing
.
In
via
lactea
,
a
coniuration
of
circles
.
In
the
flying
Horse
,
flattery
of
particular
persons
and
Societies
.
And
finally
in
the
other
figures
or
constellations
,
a
running
with
the
streame
of
ignorance
,
to
maintayne
errours
&
fallacies
,
cutting
downe
with
Arcturus
Syth
,
all
wholesome
Lawes
and
Ordinances
,
made
for
Reformation
of
abuses
.
To
contract
all
these
into
the
imaginary
Circle
of
the
12
Signes
,
would
be
more
offensiue
,
than
troublesome
,
because
of
the
application
of
the
Cornuted
beasts
of
Aries
,
Taurus
,
&
Capricorne
:
But
I
haue
resolued
to
make
Libra
the
ballance
of
our
discourse
,
and
to
vse
modest
termes
in
opposition
of
vnciuill
speeches
.
So
that
finding
no
Center
in
the
Celestiall
Sphere
:
Terrestiall
Globe
was
the
Center
of
it
,
vnlesse
(
saith
he
)
you
will
make
this
man
to
be
the
Center
,
and
place
him
in
the
middle
thereof
(
as
he
speaketh
of
Sapor
King
of
Persia
,
Herevpon
calling
to
mind
his
owne
confession
,
Terrestiall
Globe
,
beginning
from
the
Artike
circle
vnto
the
Tropicke
of
Cancer
,
equidistant
and
correspondent
to
the
Antartike
circle
and
the
Tropicke
of
Capricorne
,
placing
the
Equinoctiall
in
the
middle
of
the
fiue
chapters
following
.
And
when
I
doe
exclude
all
the
Stuffe
contayned
in
the
former
absurdities
,
together
with
the
Logicke
&
Geomitry
of
Ramus
:
There
remaineth
little
or
nothing
,
but
may
be
compared
to
the
conceited
and
wittie
enterprise
of
Aesop
,
who
would
vndertake
the
drincking
vp
of
the
mayne
Ocean
:
So
as
the
Riuers
were
separated
from
it
.
Heere
you
must
now
imagine
him
to
be
able
to
determine
with
the
Philosophers
of
the
principles
of
naturall
things
,
one
,
two
,
three
&
ten
,
&
how
they
may
be
discerned
from
their
essence
,
&
then
to
conclude
with
Aristotle
his
opinion
,
besides
all
this
,
he
can
discourse
of
colours
,
Sounds
,
Smells
,
Tasts
&
qualities
of
touching
,
which
doe
offer
themselues
to
his
common
sense
,
&
are
carried
into
the
inner
closet
of
his
Phancy
,
in
whose
mirror
they
are
represented
to
his
simple
vnderstanding
by
simple
termes
,
he
will
tell
you
in
what
respect
a
Man
is
sayd
to
be
a
Man
,
that
when
a
house
is
made
of
the
pieces
of
a
Ship
:
the
Ship
is
depriued
of
her
fashion
,
&
other
the
like
singularities
,
of
all
which
I
might
make
a
pleasant
application
.
For
these
(
forsooth
)
are
very
materiall
matters
of
Commerce
,
but
the
remembrance
of
the
picture
of
two
fooles
,
deriding
one
another
,
made
by
our
moderne
Paynters
,
with
an
inscription
:
Wee
are
three
,
meaning
the
looker
on
for
one
,
(
deseruing
no
lesse
commendation
,
then
Apelles
his
apprehension
;
Ne
sutor
vltra
crepidam
;
)
caused
me
to
set
hereunto
a
Period
.
But
some
will
say
,
Why
doe
you
so
much
inculcate
about
a
Center
,
when
it
is
apparant
,
that
he
maketh
his
Ballance
of
Trade
ot
be
the
Center
?
I
answer
,
this
imaginary
Ballance
is
without
a
Parallell
,
as
his
Circle
is
without
a
Center
;
and
may
rather
be
termed
the
periphery
or
circumference
of
his
Circle
,
then
a
Center
,
as
shall
be
demonstrated
hereafter
.
To
prosecute
therefore
our
Simile
;
it
is
recorded
that
when
G●otto
had
made
his
Circle
for
his
master-peece
,
another
Painter
(
perceiuing
the
same
to
be
without
a
Center
)
did
instantly
with
a
pinsell
make
a
point
within
the
same
,
which
made
a
perfect
center
;
whereupon
his
Art
was
much
extolled
and
preferred
before
Giotto's
conceit
;
which
caused
me
to
intitle
this
Treatise
the
Center
of
the
Circle
of
commerce
.
exchange
of
moneys
,
according
to
euery
mans
profession
and
occasion
in
the
course
of
Trade
;
some
by
Commodities
only
,
others
by
money
,
&
others
by
exchanges
for
moneys
,
or
by
all
three
meanes
,
Index
Purgatorius
dissolued
some
franticke
diseases
of
his
braine
,
which
might
haue
obscured
the
things
materiall
of
this
important
businesse
.
Thus
hauing
resolued
to
containe
my selfe
within
the
circle
of
modestie
,
remembring
the
saying
of
Socrates
,
If
an
Asse
kicke
thee
,
wilt
thou
kicke
him
againe
?
I
am
only
to
addresse
some
few
speeches
vnto
him
by
way
of
imitation
.
Alas
poore
man
,
you
do
so
often
deplore
my
ignorance
by
these
words
,
to
extoll
your
learning
,
who
was
neuer
graduated
in
Schools
,
do
you
think
to
coniure
me
within
the
circuite
of
your
Circle
,
wherein
you
are
inclosed
?
I
am
not
to
follow
your
method
of
circulation
,
especially
when
you
striue
to
commend
and
make
good
that
within
booke
which
was
neuer
in
question
,
and
maliciously
vrge
some
things
without
booke
,
that
were
neuer
meant
by
words
nor
writings
to
be
defended
;
neither
can
I
be
drawne
from
the
matter
by
your
Meanders
or
excursions
and
vaine
disputations
De
lana
Caprina
,
you
do
embrace
with
Ixion
,
a
cloud
for
Iuno
,
and
with
Narcissus
(
louing
your
owne
shadow
)
for
a
water
Nymph
.
Leaue
your
prophanation
of
Gods
word
,
in
your
passionate
writings
;
for
the
highest
point
of
knowledge
is
to
know
that
we
know
nothing
.
And
so
I
end
,
with
an
obseruation
onely
of
such
other
absurdities
as
are
fit
to
be
noted
for
the
better
vnderstanding
of
the
matters
to
be
intreated
of
.
The
Contents
of
the
fiue
Chapters
or
Zones
.
Chap.
1.
-
That
exchange
for
moneys
,
by
bils
of
exchanges
is
the
publike
measure
between
the
Realme
of
England
and
other
countreys
,
placed
vnder
the
Articke
circle
.
Chap.
2.
-
That
the
Moneys
of
the
Realme
are
vndervalued
in
exchange
betweene
vs
and
other
countreys
,
in
the
Tropicke
of
Cancer
.
Chap.
3.
-
That
Gaine
is
the
center
of
the
circle
of
commerce
:
and
that
the
vndervaluation
of
our
moneys
in
exchange
,
is
the
efficient
cause
of
the
ouerballancing
of
Trade
,
placed
in
the
Equinoctiall
.
Chap.
4.
-
An
examination
of
the
Center
of
commerce
,
in
the
Trades
from
England
into
other
countreys
,
placed
in
the
Tropicke
of
Capricorne
.
Chap.
5.
-
The
meanes
to
ballance
the
Trade
of
England
by
the
said
Center
:
or
the
Remedies
against
the
causes
of
the
decay
thereof
,
placed
in
the
Antartike
circle
.
CHAP.
I.
That
exchange
for
moneys
by
bills
of
exchanges
is
the
publike
measure
between
the
Realme
of
England
and
other
Countreys
.
ENtring
into
the
first
Zone
or
Artike
Circle
of
the
North
,
let
vs
direct
our
compasse
according
to
this
North
Starre
of
the
publike
measure
betweene
vs
and
other
Nations
,
and
so
proceed
methodically
.
There
is
no
Rule
so
generall
in
any
thing
,
which
admitteth
not
some
exception
:
but
to
ground
any
thing
vpon
an
exception
,
and
to
leaue
the
generall
rule
,
is
neuer
done
by
any
man
of
iudgement
.
All
Misseldens
contradictions
are
grounded
vpon
exceptions
,
and
the
generall
rule
is
neglected
.
As
for
example
:
The
Ship
named
the
Dragon
,
comming
from
the
East
Indies
,
States-men
haue
obserued
for
a
generall
rule
,
that
the
inhauncing
of
the
coyne
doth
generally
raise
the
prices
of
commodities
:
shall
wee
terme
this
a
fallacie
,
Monsieur
Bodine
hath
obserued
in
France
and
other
places
?
Againe
,
when
the
price
of
commodities
is
raised
generally
with
the
price
of
moneys
inhaunced
;
Likewise
when
moneys
are
not
imported
,
when
there
is
a
losse
by
the
bringing
of
them
:
When
generally
all
Diuines
doe
interprete
and
vnderstand
the
Hebrew
word
Neshech
to
be
the
biting
of
a
dog
,
or
a
gnawing
as
a
dog
doth
vpon
a
bone
,
concerning
vsury
,
which
the
learned
Doctor
Felton
now
Bishop
of
Ely
,
and
Doctor
Wilson
the
Ciuilian
haue
so
plainly
expounded
in
their
two
Treatises
of
Vsury
:
Rabbi
Bechai
doth
take
it
to
be
the
biting
or
sucking
of
a
Serpent
?
The
generall
Trade
,
all
the
world
ouer
,
is
made
by
the
rule
and
square
of
moneys
,
which
is
therefore
called
publica
mensura
in
all
countreys
where
moneys
are
vsed
to
set
a
price
vnto
all
commodities
.
Now
albeit
that
there
are
some
countries
where
they
haue
no
moneys
,
but
commodities
are
bartred
by
way
of
commutation
in
kind
:
shall
we
abandon
therefore
the
generall
rule
or
institution
of
moneys
,
and
iudge
by
the
particular
or
exception
?
Absit
ignoranti●
.
Misselden
doth
confesse
:
Commutation
of
Commodities
in
kind
,
and
then
moneys
will
not
be
vsefull
.
And
this
was
the
beginning
of
exchange
for
moneys
.
This
exchange
for
moneys
cannot
be
otherwise
,
but
with
a
consideration
of
the
very
value
of
the
materialls
whereof
the
money
is
made
,
for
we
doe
not
exchange
for
cockle
shels
,
so
that
the
inward
value
of
Siluer
and
Gold
by
weight
,
is
the
foundation
of
this
exchange
,
as
shal
be
declared
,
and
consequently
,
this
exchange
is
the
publike
measure
,
which
all
men
will
confesse
.
And
to
apply
the
common
saying
,
Mendacem
oportet
esse
memorem
,
by
way
of
retortion
,
his
owne
argument
(
like
vnto
Goliaths
sword
)
will
conuince
him
,
and
take
away
the
breath
of
his
wilfull
opinion
,
for
he
did
speake
plainely
a
little
before
,
but
it
seemeth
that
some
Tobacco
smoake
did
offend
his
memory
;
which
made
him
forgetfull
.
There
is
no
Merchant
(
saith
he
)
of
any
experience
,
IF
I
should
take
vpon
me
to
discourse
vpon
this
Text
,
&
make
no
other
answer
vnto
all
his
Assertions
,
surely
here
is
matter
enough
to
conuince
him
of
all
his
folly
,
which
by
the
Prouerbiall
Text
in
the
Title
of
his
Pampflet
is
quoted
,
but
I
intend
to
be
briefe
and
substantiall
.
All
men
of
iudgement
may
easily
perceiue
,
that
the
maine
point
in
question
concerning
our
differences
,
doth
consist
in
the
abuse
of
Exchanges
,
touching
the
value
of
moneys
of
other
Countries
inhaunced
of
late
yeares
,
when
the
moneys
of
the
Realme
did
remaine
at
a
stand
,
&
that
there
is
an
vnderualuation
of
our
moneys
in
Exchange
,
whereby
the
denomination
of
forraigne
coine
doth
in
some
part
answer
vs
,
as
if
by
exchange
we
did
really
receiue
the
value
thereof
,
there
is
no
man
blinder
then
he
that
will
not
see
,
if
he
were
in
the
Indies
,
where
the
inhabitants
call
the
Europians
,
Together
with
the
course
of
Exchange
,
were
also
considered
of
,
and
that
the
price
of
Exchange
did
rise
proportionally
with
the
rising
of
the
moneys
,
whereof
we
doe
complaine
:
Shall
this
Merchant
come
home
by
weeping
crosse
that
doth
not
the
same
?
and
shall
not
Exchange
for
moneys
be
the
publike
measure
?
you
will
buy
cloth
of
a
Draper
by
the
yard
at
a
certaine
price
,
and
yet
the
yard
whereby
it
is
measured
must
not
be
called
the
measure
.
But
some
will
say
,
why
doe
you
take
Missolden
so
short
,
doth
not
he
say
that
Merchants
of
experience
doe
so
,
and
herein
he
doth
vse
a
little
equiuocation
,
or
rather
prouidence
in
pondering
of
his
words
▪
well
,
I
must
craue
pardon
,
and
proue
that
Merchants
doe
not
so
,
and
then
it
must
follow
that
experience
is
wanting
:
but
howsoeuer
the
Maxime
is
true
:
That
Exchange
is
the
Publike
Measure
betweene
vs
and
forraine
Nations
,
where
we
deale
by
Exchange
,
according
to
which
all
our
domestike
Commodities
and
forraine
wares
are
bought
and
sold
,
To
make
this
more
euident
,
Positiue
Exchange
,
The
currant
Exchange
:
hath
not
the
like
operation
,
to
make
dayly
(
as
it
were
)
the
prices
of
commodities
to
rise
and
fall
according
to
the
said
Exchange
,
for
as
the
few
or
many
takers
or
deliuerers
of
money
doth
proportionate
this
price
of
Exchange
in
all
Countries
,
according
to
the
true
value
or
aboue
the
same
,
grounded
vpon
the
said
Positiue
Exchange
,
so
doth
plenty
or
scarsity
of
money
doe
the
like
,
and
the
commodities
so
bought
by
moneys
taken
vp
by
Exchange
,
are
calculated
by
Merchants
of
experience
in
price
to
cost
accordingly
.
So
that
euen
as
money
doth
still
remaine
the
rule
for
commodities
;
so
doth
Exchange
for
money
,
remaine
the
rule
of
moneys
,
and
consequently
of
commodities
,
This
caused
me
to
obserue
,
that
Exchange
had
two
courses
like
vnto
the
Sunne
,
the
one
Annuall
,
which
may
properly
be
called
Positiue
:
the
other
by
dayly
rising
&
declination
currant
exchange
as
aforesaid
.
But
Misselden
will
no
more
vnderstand
this
,
A
Dissimilitude
,
should
I
carpe
at
euery
word
,
and
be
rauished
with
a
foolish
admiration
at
the
word
(
vpheld
)
and
make
the
same
an
Oratory
,
I
might
be
as
good
a
Rhetorition
,
as
the
Clarke
was
in
calling
a
flocke
of
sheepe
to
be
an
Auditory
,
which
I
thinke
was
the
man
,
that
would
needes
goe
in
all
hast
to
dwell
in
the
immaginary
flourishing
common-wealth
of
Vtopia
without
money
,
so
much
by
him
extolled
.
Misselden
(
changing
his
immodest
stile
in
a
more
t●mperate
maner
)
saith
,
Exchanges
in
generall
may
be
said
to
be
Personall
and
Prouinciall
:
the
Personall
Exchange
is
a
plaine
buying
and
selling
of
commodities
and
of
moneys
,
and
why
not
for
exchanges
of
moneys
by
bills
of
Exchanges
or
letters
of
credit
?
And
here
commeth
in
his
former
and
latter
,
the
one
is
matter
of
Trade
,
the
other
is
matter
of
State
:
and
so
all
kingdomes
and
common-weales
are
made
Prouinciall
,
and
the
money
changers
are
brought
in
by
ray●ing
termes
,
because
they
were
whipt
out
of
the
Temple
for
abusing
the
place
,
if
it
were
onely
for
the
place
,
surely
himselfe
for
abusing
the
places
of
Scripture
deserueth
a
worse
punishment
.
Leauing
the
name
of
Exchange
,
Naturall
and
Politike
,
and
the
Naturall
Exchange
,
he
will
not
call
Par
pro
pari
,
but
value
for
value
,
according
to
the
inward
finesse
,
which
is
knowne
by
the
assay
and
melting
,
separating
the
pure
from
the
impure
,
the
fine
siluer
and
gold
,
from
the
allay
or
copper
;
and
herein
is
no
other
obseruation
,
but
looke
how
much
fine
siluer
or
gold
you
receiue
in
one
place
,
iust
so
much
and
no
more
you
must
pay
and
deliuer
in
another
place
.
But
you
may
not
call
this
Parity
nor
Purity
.
This
saith
he
,
is
a
better
direction
then
limitation
of
exchanges
;
whereby
you
may
vnderstand
how
he
is
mistaken
,
supposing
that
the
price
of
the
Currant
exchange
should
be
limited
,
and
not
rise
and
fall
according
to
the
nature
of
exchange
,
vpon
plenty
or
scarsity
of
money
,
and
the
many
or
few
takers
or
deliuerers
of
the
money
,
as
hath
beene
declared
.
So
that
he
maketh
no
difference
betweene
the
Positiue
exchange
,
and
the
Currant
exchange
,
the
Positiue
exchange
is
properly
the
matter
of
state
,
that
concerneth
The
King
and
kingdome
,
HEre
now
he
is
fully
perswaded
to
haue
spoken
both
ingenously
and
effectually
,
for
presently
after
(
like
a
silly
Hare
)
he
insulteth
ouer
a
dead
Lyon
,
as
the
Prouerbe
is
:
But
we
may
say
with
the
Fox
that
found
a
dead
mans
scull
,
O
quale
Caput
&
Cerebrum
non
habet
,
will
any
man
of
iudgement
commend
this
Politique
exchange
,
to
secure
the
King
and
Kingdome
,
when
there
is
a
greater
losse
to
both
,
by
the
abuse
thereof
in
the
deliuering
of
moneys
by
exchange
,
then
by
the
transportation
of
the
moneys
inspecie
,
because
when
our
moneys
are
vnderualued
in
exchange
,
the
money
is
not
onely
exported
,
but
all
the
commodities
of
the
Realme
are
vndersold
by
so
much
also
,
and
forraine
commodities
are
(
in
the
nature
of
moneys
inhaunced
)
put
vpon
vs
.
If
this
man
did
heare
me
,
he
would
cry
out
,
what
is
the
man
mad
?
hath
he
no
lesse
a
crime
to
accuse
our
Merchants
of
then
ignorance
,
as
he
doth
the
kingdome
of
Depudations
:
I
leaue
him
and
it
to
the
iudgement
of
the
State
.
It
is
pitty
such
stuffe
as
this
should
passe
the
Presse
.
Good
Sir
haue
patience
,
let
not
any
strong
immagination
preuent
your
iudgement
.
Tell
me
(
I
pray
you
)
if
the
King
or
the
Nobility
and
all
other
men
should
deliuer
money
by
exchange
at
so
low
a
price
,
vnder
the
true
value
of
the
moneys
,
that
there
were
ten
or
twelue
in
the
hundreth
to
be
gotten
in
a
moneths
time
,
betweene
the
money
inspecie
and
by
exchange
,
whereby
he
that
taketh
the
money
,
hath
an
ability
giuen
him
to
export
that
money
by
all
secret
conueyances
:
to
pay
his
bill
of
exchange
therewith
beyond
the
Seas
,
and
to
put
the
ouerplus
(
of
this
incomparable
gaine
)
into
his
purse
,
do
not
you
thinke
that
the
money
will
be
exported
by
them
that
are
the
takers
thereof
?
whereby
the
kingdome
loseth
the
money
,
and
you
that
are
the
deliuerers
of
the
money
:
the
benefit
which
they
reape
thereby
,
which
you
ought
to
haue
giuen
you
by
iust
and
true
exchange
?
Are
not
the
King
and
the
Nobility
great
loosers
hereby
in
deliuering
of
their
moneys
?
hereunto
he
replieth
,
you
are
wide
,
there
is
no
such
matter
,
you
mistake
the
busines
,
this
cannot
be
proued
,
it
is
the
maine
pillar
to
support
that
strange
and
perillous
Proiect
of
the
Par
,
the
foundation
whereof
I
haue
rooted
out
,
De
homine
imperito
nunquam
,
quic
quam
iniustius
:
Qui
nisi
quod
ipse
facit
,
nihil
rectum
Putat
.
To
this
peremptory
opinion
,
me
must
ioyne
a
peremptory
issue
,
and
come
to
the
proofe
,
putting
him
neuertheles
in
minde
,
that
he
doth
maintaine
:
that
the
low
exchange
for
moneys
is
profitable
for
our
Merchants
,
that
are
commonly
the
takers
of
moneys
here
in
Engla●d
,
and
so
beyond
the
Seas
where
they
are
deliuerers
,
now
how
a
low
exchange
can
be
imagined
without
the
vnderualuation
of
our
moneys
in
exchange
,
I
referre
to
his
deepe
apprehensions
,
come
we
therefore
in
the
next
place
to
proue
this
vnderualuation
of
our
moneys
in
Exchange
,
and
then
such
as
deserue
the
name
of
Mountebankes
,
Iugglers
,
or
impostures
of
Trade
,
will
be
found
out
as
easely
by
the
Center
of
Commerce
,
Cu'man
Asse
,
was
(
wearing
the
Lyons
skin
)
by
the
stranger
that
had
seene
a
Lyon
,
who
knew
him
by
his
eares
and
braying
:
maruell
not
therefore
that
I
haue
written
of
Merchants
Lawes
,
which
are
extolled
,
and
not
disgraced
thereby
,
or
by
such
a
fellow
who
willeth
you
to
remember
Maximilians
Foole
,
telling
the
Emperour
that
if
he
would
deriue
his
pettigree
from
Noahs
Arke
,
whereas
now
he
reuerenced
him
like
a
God
,
if
he
came
once
to
the
Arke
,
he
should
be
his
fellow
,
for
he
was
sure
that
he
also
descended
from
thence
.
This
vndervaluation
being
proued
,
will
verifie
the
Prouerbe
,
who
is
the
foole
now
:
and
Horace
his
Crow
will
be
found
to
haue
lost
his
Cheese
by
too
CHAP.
II.
That
the
Moneys
of
the
Realme
are
vnderuauled
in
Exchange
betweene
vs
and
other
Countries
.
FRom
the
North
Starre
of
the
Artike
Circle
or
Pole
,
we
are
come
to
the
Tropicke
of
Cancer
,
to
intreate
of
the
vnderualuation
of
our
moneys
in
Exchange
,
which
may
well
be
compared
vnto
Cancer
the
Crab
in
going
backe
,
for
so
doth
the
wealth
of
the
Realme
(
by
these
meanes
)
decay
,
for
wee
looke
one
way
,
and
goe
another
way
,
like
men
that
row
on
the
water
,
or
like
Crabs
on
the
Land
.
Wee
haue
obserued
heretofore
,
that
Polititions
or
Statesmen
haue
noted
,
that
the
often
comparing
of
a
thing
vnto
his
Principle
or
Original
,
produceth
the
longer
continuance
,
shewing
(
by
Digression
)
how
the
same
is
decaied
,
and
may
be
reduced
to
the
first
integrity
and
goodnes
.
To
reduce
therefore
the
course
of
Exchange
for
moneys
to
the
first
institution
,
may
seeme
very
necessary
to
explaime
this
important
matter
.
It
is
about
80.
yeares
since
that
there
was
an
equal
Exchange
between
England
and
the
Netherlands
,
Imperial
Royall
of
gold
was
valued
and
went
currant
for
Ten
shillings
Flemish
,
and
our
Angell
was
valued
at
Ten
shillings
Starlin
,
being
all
of
a
goodnes
of
Gold
in
value
,
which
we
call
Waight
and
finesse
by
the
termes
of
the
Mint
,
so
the
French
Crowne
which
was
valued
here
at
Six
shillings
Starlin
,
Phillip
Doller
of
siluer
was
valued
at
fiue
shillings
Flemish
,
and
so
was
the
Edward
Crowne
of
silucr
fiue
shillings
Starlin
:
our
ten
Groats
being
three
shillings
and
foure
pence
,
was
correspondent
to
the
Emperours
Florin
of
twenty
Stiuers
:
and
the
Flemish
shillings
of
six
Stiuers
or
twelue
pence
Flemish
,
was
all
one
with
our
shilling
or
twelue
pence
Starlin
:
for
an
ounce
of
Starlin
siluer
was
valued
as
fiue
shillings
,
for
there
was
fiue
peeces
or
shillings
made
out
of
an
ounce
:
and
although
the
Standards
of
moneys
did
differ
in
the
finesse
or
goodnes
of
the
siluer
and
gold
,
yet
the
quantity
in
waight
did
answere
and
made
good
the
same
:
as
for
example
,
the
Starlin
Standard
being
11.
ounces
2.
d.
waight
in
fine
siluer
,
in
the
12
ounces
Troy
to
the
pound
waight
made
into
60
s.
caused
the
ounce
to
be
fiue
shillings
;
and
the
Philip.
Doller
being
but
ten
ounces
of
fine
siluer
in
the
like
pound
weight
of
12
ounces
Troy
:
was
correspondent
and
currant
for
fiue
shillings
,
or
the
said
pound
was
valued
at
60
s.
This
Philip
Doller
weigheth
22
pennie
weight
,
which
is
two
pennie
weight
more
then
an
ounce
,
to
answer
our
siluer
by
the
more
weight
of
such
siluer
as
is
not
so
good
as
ours
,
because
it
containeth
more
allay
or
copper
:
so
that
their
inward
value
of
siluer
is
made
by
weight
answerable
and
correspondent
to
ours
.
And
so
the
names
for
the
price
and
value
of
the
coine
,
were
named
alike
;
and
the
prices
of
commodities
(
both
here
and
beyond
the
seas
)
were
likewise
named
accordingly
;
whereby
all
fallacies
concerning
the
value
of
moneys
and
the
prices
of
commodities
were
excluded
;
and
then
Merchants
(
to
accommodate
one
another
by
exchange
)
would
giue
or
deduct
either
3
d.
4
d.
or
6
d.
or
thereabouts
vpon
the
pound
of
our
20
s.
or
a
pennie
or
two
pence
vpon
the
Noble
(
wherupon
exchanges
were
then
commonly
made
)
to
pay
or
receiue
their
moneys
by
exchange
here
or
beyond
the
seas
,
according
as
they
could
agree
:
in
so
much
,
that
20
s.
Starlin
hath
beene
giuen
here
to
receiue
beyond
the
seas
19
s.
6
d.
Flemish
by
exchange
.
And
the
like
hath
been
giuen
beyond
seas
,
to
receiue
here
20
s
Starlin
,
according
to
the
occasions
of
Merchants
.
From
this
equalitie
or
paritie
of
exchange
,
we
are
fallen
to
very
great
inequalitie
,
by
the
inhauncing
of
moneys
beyond
the
Seas
,
whereby
the
price
was
there
altered
in
name
or
denomination
,
our
moneys
remaining
here
at
a
stand
;
and
the
standards
of
moneys
both
here
and
beyond
the
Seas
also
remaining
vnaltered
,
and
so
continued
beyond
the
Seas
vntill
this
day
,
albeit
they
haue
caused
diuers
new
coines
of
other
standards
to
be
made
since
that
time
,
which
is
to
be
obserued
hereafter
,
the
rather
for
that
it
is
a
maxime
,
That
the
siluer
coines
doe
rule
the
markets
in
all
places
,
because
of
the
abundance
thereof
,
The
first
inequalitie
crept
in
by
the
inhauncing
of
moneys
,
was
vpon
the
Philip
Doller
,
which
was
come
from
30
Stiuers
or
5
s
,
as
aforesaid
,
to
33
and
35
Stiuers
;
whereby
the
price
of
exchange
began
to
alter
in
the
yeares
of
our
Lord
1563
and
1564
,
which
then
was
looked
into
by
the
Merchants
Aduenturers
,
according
to
the
complaints
of
Mr.
Hussey
their
Gouernour
,
and
that
made
them
to
make
exchanges
vpon
our
pound
of
20
s
Starlin
at
22
s.
6
d.
and
23
s.
Afterwards
in
the
yeare
1575
,
the
said
Philip
Doller
went
currant
for
36
Stiuers
,
or
6
s
Flemish
,
which
was
inhaunced
full
twentie
in
the
hundred
,
or
foure
shillings
vpon
twentie
shillings
;
whereby
the
paritie
of
exchange
was
altered
in
name
from
20
to
24
,
because
that
24
s
with
them
beyond
the
Seas
and
our
20
s
here
was
all
one
in
value
:
so
that
500
l
Starlin
was
correspondent
or
answerable
to
600
l
Flemish
,
by
reason
of
the
said
valuation
,
without
any
alteration
of
Standards
.
Before
that
time
,
that
is
to
say
,
in
the
yeare
of
our
Lord
1567
,
the
Burgundian
Rickx
Doller
was
coined
in
the
Empire
for
32
Stiuers
lups
,
or
two
Marks
lubish
,
of
16
shillings
the
Marke
.
So
that
then
one
shilling
lubish
and
one
Stiuer
,
From
this
position
,
let
vs
come
now
to
the
vndervaluation
of
our
moneys
in
exchange
by
three
seuerall
and
infallible
meanes
;
and
therein
obserue
the
progresse
of
valuation
and
the
course
of
exchange
,
for
the
maine
places
of
Trade
.
First
,
by
the
Assayes
of
moneys
made
in
former
times
,
and
the
calculations
of
exchanges
made
thereupon
,
upon
,
according
to
the
prices
or
valuations
of
the
moneys
inhaunced
beyond
the
Seas
,
and
not
inhaunced
with
vs
in
England
.
Secondly
,
Lastly
,
By
the
triall
of
Assayes
both
of
our
moneys
and
the
coines
of
forraine
Countries
lately
taken
,
concerning
both
the
premises
,
by
which
three
meanes
,
any
man
of
iudgement
may
perceiue
that
the
Exchange
is
the
Publike
meanes
betweene
vs
and
other
Countries
already
proued
.
Concerning
the
first
,
it
appeareth
of
record
,
that
in
the
said
yeare
1575.
there
was
(
by
order
of
the
Right
Honourable
the
Lords
&
others
of
her
Maiesties
then
Priuy
Councell
of
the
late
Queene
Elizabeth
of
blessed
memory
)
diuers
Assayes
made
of
the
moneys
of
sundry
Countries
,
and
the
price
of
Exchange
,
that
is
to
say
of
the
Positiue
Exchange
,
was
set
downe
accordingly
,
whereof
I
haue
made
this
Abstract
,
for
so
much
as
maketh
for
the
purpose
.
The
Phillip
Doller
of
10.
ounces
fine
at
36.
Stiuers
or
6.
s.
Flemish
,
made
the
price
of
the
said
Exchange
24.
s.
as
aforesaid
,
accounting
4
Dollers
for
the
l.
The
Rickx
Doller
of
10.
ounces
12.
penny
waight
at
32.
shillings
lubish
or
Stiuers
Flemish
made
the
said
Positiue
Exchange
to
be
24.
s.
also
,
The
Rickx
Doller
being
inhaunced
to
33.
shillings
lubish
,
made
the
price
of
the
said
Exchange
at
one
shilling
more
,
vpon
the
4.
prices
and
a
halfe
to
be
at
24.
s.
9.
d.
which
contained
for
a
long
time
at
Hamborough
and
other
places
in
Germany
,
intermissiue
times
,
by
the
warres
and
deuision
of
the
17.
Prouinces
.
Come
wee
now
to
the
yeare
1586.
when
Robert
Lord
Dudley
Earle
of
Leycester
went
ouer
to
take
the
Gouernment
of
the
Vnited
Prouinces
,
at
which
time
moneys
were
much
inhaunced
,
and
the
States
did
coine
the
great
siluer
Royall
of
the
goodnes
of
the
Phillip
Doller
,
as
also
Rickx
Dollers
,
in
euery
prouince
of
the
goodnes
of
the
said
Imperiall
or
Burgundian
Dollers
,
and
the
Arch
Duke
Albertus
of
Austria
did
the
like
in
the
reconciled
Countries
vnder
his
Gouernment
.
Hereupon
there
was
Assayes
made
againe
of
the
said
coynes
and
other
moneys
,
and
the
goodnes
of
them
was
by
the
said
Assayes
correspondent
in
weight
and
finesse
,
and
so
the
Positiue
Exchange
was
made
accordingly
vpon
the
valuation
made
in
the
said
Countries
,
namely
the
said
Phillip
Doller
being
risen
and
valued
at
50.
Stiuers
,
or
8.
s.
4.
d.
Flemish
made
the
said
Exchange
(
by
the
said
4.
peeces
)
to
be
33.
s.
4.
d.
for
20.
shillings
Starlin
:
the
said
Rickx
Doller
was
valued
at
45.
Stiuers
,
or
7.
s.
6.
d.
Flemish
made
the
Exchange
to
be
after
4
peeces
and
a
halfe
to
the
pound
Starlin
33.
s.
9.
d.
but
because
our
shilling
was
valued
at
20.
d.
Flemish
,
or
10
Stiuers
,
whereof
20.
s.
made
33.
s.
4.
d.
Flemish
,
it
was
agreed
by
the
Commissioners
,
Positiue
Exchange
should
be
33.
s.
4.
d.
for
our
20.
s
:
and
all
other
moneys
had
correspondence
with
the
said
price
or
thereabouts
:
and
the
Spanish
Royall
of
8.
was
valued
at
42.
Stiuers
,
or
7.
s.
Flemish
,
as
appeareth
by
the
Placeart
or
Proclamation
then
made
by
the
said
Earle
of
Leycester
.
If
you
will
be
sure
whether
the
said
Assayes
and
Valuations
are
truely
calculated
in
exchange
,
Golden
Rule
is
easie
for
any
man
of
meane
iudgement
to
be
cast
vp
,
that
is
to
say
,
if
the
Phillip
Doller
of
36
,
Stiuers
made
the
price
of
exchange
to
be
24.
s.
what
must
the
price
now
be
,
when
the
said
Doller
is
valued
at
50.
Stiuers
,
facit
33.
s.
4.
d
,
againe
if
the
Rickx
Doller
at
33.
Stiuers
giueth
in
exchange
24.
s.
9.
d.
what
will
45.
Stiuers
giue
in
exchange
,
facit
33.
s.
9.
d
:
so
that
you
see
the
Assayes
and
Valuations
doth
agree
in
the
price
of
exchange
,
and
rather
somewhat
to
our
disaduantage
.
In
the
yeare
1600.
(
by
a
Commission
granted
to
Sir
Richard
Martin
Knight
,
and
Master
of
the
Mint
,
Sir
Richard
Saltonstall
,
Sir
Henery
Belling
sley
knights
,
Thomas
afterwards
Lord
Knynet
,
Mr.
Iohn
Williams
,
my selfe
and
diuers
others
)
there
was
an
examination
taken
concerning
the
goodnes
and
valuation
of
moneys
in
exchange
,
and
there
ensued
but
an
alteration
in
the
valuation
of
gold
concerning
the
proportion
,
with
some
small
reformation
concerning
the
Standards
:
but
in
Exchanges
nothing
was
effected
,
for
some
reasons
here
not
declared
:
come
wee
now
to
this
present
time
,
and
see
how
much
the
said
moneys
haue
beene
inhaunced
,
Placcart
or
Edict
of
Proclamation
of
the
said
Estates
made
the
21
of
Iuly
1622.
There
you
shall
finde
that
the
Phillip
Doller
is
made
Bullion
:
that
is
to
say
,
not
currant
,
as
they
haue
also
done
of
other
coynes
:
but
the
Rickx
Doller
of
Germany
and
the
Nether-lands
are
inhaunced
and
valued
by
Publike
Authority
(
besides
their
tolleration
to
goe
aboue
the
same
)
at
50.
Stiuers
,
now
cast
hereupon
what
the
Positiue
Exchange
must
be
,
when
45.
is
made
50.
or
when
5.
is
gotten
in
45
,
which
is
iust
one
ninth
part
:
take
the
ninth
part
of
one
hundreth
,
and
it
is
11.
and
1/9.
that
the
said
Dollers
and
other
moneys
are
in
haunced
thereby
.
But
our
Shillings
or
12.
pence
Starlin
(
albeit
they
must
be
deliuered
by
waight
)
is
but
aduanced
to
tenne
Stiuers
and
a
halfe
,
which
is
but
5.
d.
100.
when
it
should
be
11
1/9.
part
,
or
11.
l.
2.
s.
2.
d.
⅔
.
The
Rule
is
.
If
45.
giue
5
,
what
shall
50.
giue
?
Facit
11.
&
1/9.
parts
.
Or
if
45.
giue
in
true
Exchang
33.
s.
9
d
,
what
50
?
Facit
37.
s.
6.
d.
Or
if
42.
for
the
Royall
giue
33.
s.
4.
d
,
what
giues
48
?
Facit
38.
s.
1.
d.
So
that
it
plainely
appeareth
by
grounded
calculation
vpon
Assayes
,
that
from
33.
s.
4.
d.
the
moneys
of
the
Realme
between
vs
and
the
Low
Countries
are
vnderualued
11.
l.
2.
s.
2.
⅔
.
d.
in
euery
hundred
pounds
,
per
cent
,
which
is
132.
per
cent
by
the
yeare
,
and
no
money
or
Bullion
can
be
imported
from
thence
without
the
like
losse
to
the
bringer
thereof
,
vnlesse
by
gold
,
which
is
here
more
esteemed
then
in
other
Countries
,
whereby
he
may
saue
some
part
of
his
losse
,
especially
the
same
being
made
Bullion
beyond
the
seas
,
as
aforesaid
.
And
because
Misselden
will
not
allow
of
the
supposition
set
downe
vpon
the
rates
of
30.
s.
for
20.
●
.
To
returne
to
our
aforesaid
declaration
of
the
vndervaluation
of
our
moneys
.
This
is
conuenience
being
opened
to
the
Grand
Commission
of
51.
Persons
,
of
diuers
quallities
and
degrees
appointed
for
matters
of
Trade
,
namely
,
The
Right
Honourable
the
Lord
Vizcount
Man-deuile
,
Iohn
Suckling
Knight
,
Comptroller
of
his
Maiesties
Houshold
,
Sir
Iulius
Caesar
Knight
,
Master
of
the
Rolles
,
and
diuers
other
Knights
,
Baronets
,
and
others
:
It
pleased
them
to
send
for
his
Maiesties
Assay-master
,
Master
Andrew
Palmer
a
man
of
rare
knowledge
and
experience
,
and
willed
him
to
make
Assayes
of
the
principall
forraine
coynes
,
and
to
compare
the
same
vnto
ours
by
way
of
Exchange
,
after
the
rate
of
35
s.
Flemish
for
20
s.
Starlin
,
whereupon
he
made
the
report
here
following
,
in
the
Moneth
of
March
last
past
,
1623.
Twenty
shillings
English
money
,
Euery
penny
weight
of
fine
siluer
is
worth
in
our
currant
siluer
moneys
,
three
pence
farthing
and
halfe
a
farthing
full
:
so
the
difference
in
value
betweene
the
moneys
aboue
said
,
is
14
pence
halfe
pennie
and
one
farthing
,
which
is
vpon
the
hundreth
pounds
,
sixe
ponnds
three
shillings
.
Euery
Holland
shilling
containes
in
fine
siluer
,
one
pennie
waight
,
21
graines
,
13
mites
,
8
droicts
,
which
is
in
value
to
our
siluer
moneys
,
six
pence
3/●
parts
:
euery
Holland
Stiuer
of
the
best
containes
in
fine
siluer
,
7
graines
,
12
mites
,
5
droicts
,
6
periods
16
blancks
:
which
is
in
value
two
ounces
,
one
pennie
,
1½
mites
,
euery
5
shillings
English
siluer
containes
in
fine
siluer
,
17
penny
waight
,
17
graines
,
16
mites
.
Euery
Holland
Doller
containeth
in
fine
siluer
16
pennie
waight
,
4
graines
,
10
mites
:
the
difference
in
fine
siluer
is
one
pennie
waight
,
13
graines
,
6
mites
,
which
is
in
value
Starlin
,
5
pence
full
.
Euery
peece
of
8
Royalls
of
Spaine
,
containeth
in
fine
siluer
16
penney
waight
,
one
graine
:
the
difference
is
one
penny
waight
,
16
graines
,
16
mites
.
And
in
value
Starlin
,
fiue
pence
,
halfe
penny
full
.
So
to
the
difference
of
six
pounds
,
three
shillings
in
euery
hundreth
pounds
,
the
5
vpon
the
hundreth
added
betweene
33
s.
4
d
,
and
35
s.
is
in
Totall
11
l.
3
s
,
by
this
calculation
of
Assay
.
Thus
it
appeareth
vnto
men
euen
of
the
meanest
vnderstanding
,
that
our
moneys
are
vndervalued
in
exchange
for
the
Low
Countries
,
and
for
Hamborough
&
other
places
much
more
,
where
the
Rickx
Doller
is
risen
to
52
,
and
54
shillings
lubish
,
which
by
the
precedent
rules
,
maketh
the
price
of
this
Positiue
Exchange
to
be
aboue
40
s.
of
theirs
for
our
20
s
,
which
to
auoide
prolixity
,
I
leaue
to
euery
mans
iudgement
to
calculate
.
Now
because
we
haue
spoken
of
men
of
meane
capacity
,
Vitall
Spirits
thereof
to
languish
?
Surely
all
men
are
able
to
vnderstand
this
,
yet
it
shal
be
made
more
plainer
.
Thus
may
we
obserue
the
Disgression
and
inequallity
betweene
the
said
moneys
,
which
can
neuer
(
conueniently
)
be
reducted
to
their
first
price
and
equallity
:
I
might
likewise
make
instance
of
the
coines
of
gold
which
are
more
inhaunced
,
for
the
Soueraigne
of
20
s.
is
now
currant
at
37
s.
8
d.
Flemish
But
the
premises
declare
sufficiently
the
vndervaluation
of
our
moneys
in
exchange
,
both
by
calculation
and
triall
of
the
suttle
Assay
.
Misselden
in
his
former
Treatise
misnamed
Free-Trade
,
setteth
downe
,
Circle
of
Commerce
he
saith
:
That
they
be
fearefull
effects
,
and
againe
,
that
moneys
are
not
so
little
inhaunced
as
20
in
the
hundreth
since
the
inhauncing
begunne
,
which
we
haue
proued
to
be
double
,
or
100
vpon
the
hundreth
,
well
in
good
time
,
t
is
mistaken
,
to
make
it
serue
his
turne
.
He
accuseth
me
of
grosse
errors
,
for
that
the
exchange
is
risen
in
price
according
to
the
valuation
of
moneys
,
which
euen
now
we
haue
proued
to
be
false
:
and
if
exchange
should
rise
and
fall
accordingly
,
that
is
to
say
,
if
moneys
rise
beyond
the
Seas
,
that
the
price
of
exchange
should
rise
accordingly
:
and
if
moneys
doe
rise
here
,
that
then
on
the
contrary
the
exchange
should
fall
in
price
here
,
what
remedy
can
there
be
then
in
the
inhauncing
of
the
moneys
,
when
the
price
of
exchange
will
still
ouer
rule
the
same
,
Publike
Measure
?
But
he
will
make
this
perspicuous
by
a
familiar
example
,
surely
one
of
the
familiars
of
his
Circle
hath
del●ded
him
herein
:
for
if
a
Gentleman
maketh
ouer
100
l.
for
Amsterdam
at
33
s.
4
d
,
and
receiueth
for
it
there
166
l.
13
s.
4
d.
Flemish
in
Holland
Dollers
,
called
Lyon
Dollers
;
at
two
Guilderes
or
40
Stiuers
the
Doller
,
which
amounteth
iust
500
Dollers
,
and
vpon
occasion
after
he
hath
receiued
the
same
,
he
is
to
deliuer
them
there
againe
by
exchange
to
be
paid
in
London
:
the
question
is
not
vpon
the
inhauncing
of
two
Stiuers
vpon
euery
Doller
and
35
s
,
which
he
must
giue
there
to
haue
heere
payd
him
,
20
s.
Starlin
for
euery
pound
,
whereby
the
said
inhauncing
of
the
Doller
there
,
and
the
price
of
Exchange
doe
iust
concurre
,
and
there
can
be
neither
gaine
nor
losse
.
But
the
point
is
,
whether
these
500.
Dollers
do
containe
so
much
fine
siluer
by
waight
,
as
there
is
in
100
l.
Starlin
here
by
him
deliuered
,
whereby
it
might
be
at
his
choice
to
import
the
said
500.
Dollers
inspeci
,
or
to
deliuer
them
there
by
exchange
,
to
receiue
the
value
thereof
in
England
without
losse
:
and
vpon
examination
hereof
,
the
difference
(
according
to
the
premises
)
will
be
found
so
great
,
that
it
cannot
be
put
into
one
eye
,
for
it
will
fill
such
an
emptie
skull
without
braines
:
as
the
Fox
before
spoken
of
had
found
by
chance
;
and
wee
now
perceiue
,
here
you
may
distinguish
his
Personnall
Exchange
concerning
Trade
,
and
his
Prouinciall
Exchange
concerning
State
,
to
be
handled
in
the
next
Chapter
,
for
the
said
Lyon
Doller
was
by
the
said
Proclamation
of
the
Earle
of
Leycester
valued
at
36
Stiuers
,
Per
Cento
,
where
the
said
Royalls
(
when
he
bought
them
)
did
cost
him
but
tenne
vpon
the
hundreth
:
and
thus
you
may
see
what
deepe
speculations
this
man
hath
(
whilst
he
is
inclosed
within
his
Circle
)
to
find
out
these
Misteries
,
&
yet
no
Misteries
:
like
vnto
the
Man
,
But
he
will
come
a
little
closer
,
and
leaue
all
the
vncertaine
rates
of
exchanges
,
and
so
bring
me
to
the
touchstone
of
the
said
last
Proclamation
of
the
States
of
the
Vnited
Prouinces
,
whereby
the
Royal
of
8
is
cried
downe
to
48
Stiuers
,
or
8
s.
Flemish
.
And
here
he
hath
calculated
matters
to
a
haire
,
by
the
English
waight
of
English
and
Ases
,
and
pennie
waight
and
graines
,
reckoning
after
32
Ases
for
the
pennie
weight
or
English
,
the
pennie
waight
being
but
24
granes
,
and
making
4
peeces
3/●
parts
to
be
equall
with
our
20
s.
in
value
,
which
at
10
〈◊〉
;
Stiuers
for
our
shilling
,
according
to
the
said
Proclamation
,
iumpeth
all
at
35
s.
Flemish
in
exchange
for
the
said
2
s.
Starlin
;
this
is
very
prettily
contriued
by
the
dexterity
of
his
ingenous
spirit
,
or
rather
by
his
supportes
,
who
would
helpe
a
lame
Dog
ouer
the
stile
,
as
the
prouer
be
is
by
abating
the
price
of
the
Royall
,
and
aduancing
the
price
of
exchange
,
taking
care
onely
for
the
present
rate
&
time
of
exchange
,
wherewith
he
chargeth
me
with
a
p●ace
of
Scripture
,
with
such
a
Magnanimity
,
Iulius
Caesar
in
conquering
Brittaine
,
second
Part
of
Lex
Mercatoria
:
now
concerning
the
exchange
for
Hamborough
,
Animus
Meminisse
horret
,
luctuque
Refugit
.
I
his
vndervaluation
of
our
moneys
in
exchange
by
the
inhauncing
of
forraine
coyne
is
so
plaine
,
and
Luce
Meridiana
Clarius
in
euery
mans
vnderstanding
,
that
there
needeth
not
any
further
explanation
,
yet
Misselden
will
not
acknowledge
,
that
the
15
Per
Cento
,
Value
of
Moneys
:
and
this
is
meere
contrary
to
his
former
Assertion
,
Pag.
17.
where
he
saith
:
That
if
the
Merchants
do
nor
raise
the
price
of
their
Commodities
in
due
proportion
to
the
moneys
inhaunced
in
Exchange
,
they
shall
come
home
by
weeping
crosse
:
the
best
is
,
he
can
swallow
vp
many
of
these
Guggions
,
and
put
down
things
neuer
by
me
affirmed
.
As
that
the
Exchange
in
the
yeare
1586
,
or
at
any
time
since
,
went
constantly
at
33
s.
4
d
,
and
here
he
might
produce
more
then
1586
witnesses
and
Merchants
Bookes
;
There
was
of
late
yeares
a
Merchant
of
great
experience
,
Per
Cento
,
by
the
yeare
,
the
operation
whereof
was
to
be
felt
in
time
,
as
now
we
doe
in
the
want
of
moneys
,
for
in
the
great
bodies
of
Common-weales
,
things
are
not
sensible
but
in
progresse
of
time
:
which
causeth
me
to
compare
the
working
thereof
to
the
Planet
Saturne
,
making
his
Sphericall
course
in
Thirty
yeares
.
The
Rule
therefore
(
which
Misselden
called
,
Now
if
I
should
conclude
this
point
and
say
,
That
serious
obseruation
of
those
most
graue
and
Honorable
Councellors
of
State
in
the
yeare
1576.
concerning
the
Feates
and
Bankers
,
Phillip
de
Valois
,
who
indited
them
as
cosonners
of
the
Common-wealth
:
are
not
to
be
past
ouer
with
iests
and
vntruths
,
for
wise
men
looke
for
better
things
,
The
Acts
of
Parliaments
,
Proclamations
and
Ordinances
made
vpon
this
consideration
,
with
the
treaties
and
conferences
with
other
Princes
,
hereafter
to
be
declared
,
will
manifest
the
importancy
of
this
matter
of
State
,
which
is
canker
of
the
Commonwealth
,
and
therefore
placed
in
this
Zone
of
the
Tropicke
of
Cancer
,
as
before
is
noted
:
the
operation
whereof
wil
be
more
perspicuous
vpon
examination
of
it
,
by
the
Center
of
Commerce
to
be
intreated
of
in
the
Equinoctiall
,
being
the
middle
and
third
Zone
of
the
Globe
of
Trafficque
and
Trade
,
according
to
our
distribution
,
whereby
the
olde
Adage
will
approue
.
That
yong
men
do
thinke
that
old
men
are
Fooles
:
But
old
men
do
know
that
young
men
are
Fooles
which
hath
a
reference
to
the
generall
,
and
may
be
applied
in
this
particular
,
Least
per
aduenture
he
be
wise
in
his
owne
eyes
,
Prouerbes
26.
v.
5.
CHAP.
III.
That
gaine
is
the
Center
of
the
Circle
of
Commerce
,
and
that
the
vnderualuation
of
our
Moneys
in
Exchange
,
is
the
efficient
cause
of
the
ouerballancing
of
Trade
.
Now
that
we
come
to
the
Equinoctiall
Line
,
where
the
Center
of
the
Circle
of
commerce
is
to
be
found
,
vpon
the
rule
of
equitie
and
Parity
,
to
be
obserued
betweene
moneys
and
exchanges
of
moneys
by
Bills
:
let
vs
note
,
that
Aristotle
in
his
fourth
Booke
of
Metaphysickes
,
(
which
is
commonly
called
the
Booke
of
Distinction
)
hath
largely
confirmed
,
that
all
errors
proceeds
from
Indistinction
,
now
forasmuch
as
a
Distinction
can
be
no
other
thing
then
the
enumeration
of
sundry
significations
of
the
same
,
The
wealth
of
a
Kingdome
cannot
properly
decrease
,
In
the
managing
whereof
,
wee
are
to
make
three
distinctions
.
The
First
,
concerning
the
King
and
the
Nobility
,
Gentlemen
and
Trauellers
,
The
Second
distinction
concerneth
particular
Merchants
,
who
doe
make
a
priuate
benefit
by
moneys
and
exchange
to
the
preiudice
of
the
Kingdome
,
by
a
low
exchange
,
and
vndervaluation
of
our
moneys
.
The
Third
,
concerneth
the
whole
Kingdome
in
generall
,
wherein
the
said
perticular
Merchants
do
beare
some
losse
vnawares
,
although
they
haue
a
greater
gaine
by
a
disordered
Trade
another
way
,
to
the
vtter
vndoing
of
all
Trade
,
and
destruction
of
the
Realme
,
which
we
are
now
to
distinguish
.
It
is
demanded
,
Albeit
the
generall
is
composed
of
the
particular
,
yet
it
may
fall
out
,
that
the
generall
shall
receiue
an
intollerable
preiudice
and
losse
by
the
particular
benefit
of
some
,
the
opinion
and
councell
therefore
in
the
reformation
of
abuses
of
some
priuate
Merchants
,
is
to
be
held
in
suspition
,
and
Kings
and
Princes
are
to
sit
at
the
sterne
of
Trade
,
which
caused
the
wise
man
to
say
:
Consult
not
with
a
Merchant
concerning
Exchanges
.
The
gaines
which
are
preiuditiall
to
the
Common-wealth
,
and
beneficiall
to
some
Merchants
in
particular
,
are
these
as
followeth
.
English
Merchants
(
being
here
the
takers
of
money
by
exchange
)
haue
a
great
gaine
when
they
take
the
same
at
a
low
exchange
,
Againe
,
if
an
equall
exchange
were
vsed
,
according
to
the
Standards
of
moneys
of
other
Nations
and
ours
:
then
could
not
English
Merchants
sell
our
natiue
Commodities
so
good
cheape
beyond
the
Seas
,
to
vndersell
other
Nations
,
casting
their
calculations
of
buying
and
selling
according
to
the
low
price
of
exchange
.
Also
,
if
the
price
of
exchange
were
high
beyond
the
Seas
:
then
the
Spanish
Merchants
could
not
make
such
gaine
by
the
Royalls
of
8
which
they
transport
thither
,
making
returne
of
the
proceede
of
them
by
a
low
exchange
,
to
their
great
benefit
of
25
Per
cento
,
where
they
can
make
here
but
ten
vpon
the
hundreth
.
If
the
moneys
were
not
inhaunced
beyond
the
Seas
,
Merchants
could
not
sell
our
natiue
commodities
at
the
prices
they
now
do
,
and
returne
the
value
thereof
by
a
low
exchange
from
thence
,
or
taking
vp
the
same
heere
,
giue
so
little
by
exchange
there
.
English
Merchants
buying
here
cloth
vpon
their
credits
,
and
selling
the
same
beyond
the
Seas
,
haue
a
good
gaine
to
returne
their
money
by
a
low
exchange
,
to
pay
the
seller
of
the
Cloth
with
his
owne
,
&
so
trading
without
stockes
:
are
instruments
to
sell
the
natiue
Commodities
of
the
Realme
.
If
the
exchange
were
not
low
vnder
the
value
of
the
Standard
,
Merchants
could
not
make
a
great
benefit
by
taking
vp
moneys
here
(
be
he
either
English
or
stranger
)
and
transport
the
same
to
pay
their
Bills
of
exchanges
beyond
the
Seas
,
and
reserue
a
great
part
of
the
money
for
their
benefit
,
neither
could
they
buy
forraine
Commodities
beyond
the
Seas
vpon
long
dayes
of
payment
,
and
transport
money
to
pay
the
seller
at
the
said
times
.
All
this
is
done
by
maintaining
the
vndervaluation
of
our
moneys
by
a
low
exchange
,
The
like
is
done
by
selling
of
our
Cloth
good
cheape
beyond
the
Seas
in
greater
quantity
,
when
Merchants
haue
beaten
downe
the
price
with
the
Clothier
,
whereby
the
Clothier
is
forced
to
do
the
like
with
the
Woolegrower
,
which
disimproueth
the
reuinew
of
lands
.
But
the
Merchant
imployeth
the
lesser
stocke
,
and
hath
not
therefore
the
lesse
benefit
:
the
Woolegrower
and
the
Clothier
bearing
the
losse
,
besides
other
priuate
dealings
of
Merchants
,
which
are
errors
of
Trade
,
declared
in
out
former
Treatise
.
P.
75
,
76.
The
third
distinction
concerning
the
whole
Kingdome
,
is
now
to
be
examined
by
way
of
Antithesis
or
conterpointing
,
shewing
how
gaine
doth
command
and
direct
Trade
,
in
the
said
three
simples
of
Trafficque
,
namely
Commodities
,
Moneys
,
and
Exchanges
,
and
especially
in
the
exchanges
of
moneys
which
ouerruleth
the
other
two
,
whereby
the
ouerballancing
of
forraine
Commodities
,
with
our
natiue
Commodities
in
price
is
procured
:
and
this
may
be
auoided
and
preuented
by
the
contrary
,
if
it
be
put
in
practise
according
to
the
said
rule
of
iustice
and
equitie
.
Inconueniences
arising
to
the
Realme
of
England
,
by
the
vnderualuation
of
our
moneys
in
Exchanges
vpon
the
pound
of
xx
.
shillings
for
the
maine
places
of
Trade
.
FIrst
,
when
our
moneys
are
vnderualued
in
exchange
,
whereby
there
ariseth
a
gaine
betweene
the
inward
value
of
the
moneys
and
the
price
of
exchange
:
then
are
our
moneys
continually
exported
into
forraine
parts
,
for
the
like
gaine
can
neuer
be
made
by
any
Commodity
.
2
This
exportation
of
money
,
causeth
not
onely
the
lesse
moneys
to
be
employed
vpon
our
natiue
Commodities
,
and
returneth
in
forraine
wares
,
but
taketh
away
also
the
Vitall
spirit
of
Trafficque
,
and
giueth
a
great
cause
of
ouerballancing
of
commodities
.
3
The
said
vndervaluation
of
our
moneys
in
exchange
doth
the
like
,
and
causeth
our
natiue
Commodities
to
be
sold
better
cheape
beyond
the
Seas
,
for
want
of
knowledge
of
the
true
value
of
our
moneys
and
theirs
:
euen
as
the
inhauncing
of
forraine
coyne
beyond
the
Seas
,
caused
the
forraine
wares
to
be
aduanced
in
price
,
according
as
the
said
money
is
inhaunced
,
whereby
the
said
ouerballancing
must
needes
come
to
passe
of
course
.
4
It
doth
hinder
the
importation
of
Bullion
and
Dollers
from
the
said
places
of
Trade
,
which
wee
haue
had
in
times
past
:
for
the
said
inhauncing
coyne
not
being
truly
valued
by
exchange
,
cannot
be
imported
but
to
an
exceeding
losse
,
and
Merchant
strangers
will
not
take
the
same
at
a
low
exchange
,
so
that
our
Merchants
are
compelled
to
make
their
returnes
by
forraine
Commodities
,
thereby
greatly
increasing
the
said
ouerballancing
of
Trade
.
5
Young
English
Merchants
are
constrained
to
take
vp
a
great
part
of
the
said
money
at
a
low
exchange
,
to
maintaine
their
rechanges
to
their
losse
,
or
else
must
make
quick
sales
of
their
commodities
,
whereby
they
spoile
the
markets
of
others
,
which
causeth
them
to
set
ouer
their
bills
obligatory
(
receiued
for
their
Clothes
sold
there
)
either
for
money
,
to
pay
the
money
taken
vp
heere
by
exchange
,
or
for
forraine
Commodities
at
deere
rates
by
the
said
inhaunced
moneys
and
otherwise
,
which
cannot
but
breed
an
ouerballancing
of
Commodities
.
6
The
said
low
exchange
(
whereby
the
Spanish
Merchants
make
a
diuersion
of
the
Royalls
of
8
vnto
to
those
parts
finding
there
more
gaine
,
when
they
can
make
ouer
their
moneys
by
a
low
exchange
doth
also
diuert
from
vs
a
great
Trade
,
by
such
imployments
as
are
made
there
vpon
forraine
Commodities
,
as
Bayes
,
Sayes
,
and
other
new
Draperies
made
in
those
parts
,
which
might
be
employed
vpon
our
Commodities
,
and
can
this
negotiation
be
without
argumenting
of
the
said
ouerballancing
?
7
If
by
occasion
or
accident
moneys
or
Bullion
is
impotted
:
(
which
might
be
carried
to
the
Mint
,
and
the
moneys
made
thereof
would
be
deliuered
by
exchange
to
our
Merchants
,
and
so
by
them
employed
vpon
our
Commodities
,
if
the
said
were
high
or
indiffetent
:
)
it
falleth
out
,
that
the
said
moneys
or
Bullion
are
exported
againe
by
other
Merchants
,
which
bring
in
forraine
wares
for
it
,
for
gaine
still
beareth
the
sway
.
Thus
by
buying
forraine
commodities
(
as
it
were
)
by
forcible
meanes
of
course
,
by
reason
of
the
said
vndervaluation
of
our
moneys
by
exchange
:
and
selling
our
natiue
Commodities
by
a
false
measure
of
exchange
to
our
losse
,
Sublata
Causa
,
T●ll
itur
effectus
.
Now
albeit
that
the
contrary
hereof
doth
produce
the
benefits
to
the
Common-wealth
,
and
doth
properly
belong
to
the
remedies
of
the
inconueniences
of
Trade
,
to
be
handled
in
the
last
Chapter
:
yet
because
it
is
more
intelligible
in
this
place
,
let
vs
declare
the
same
.
Benefits
which
will
arise
to
the
Realme
of
England
by
the
true
valuation
of
our
Moneys
in
Exchange
,
to
meete
with
the
said
inconueniences
.
FIrst
,
2
The
transportation
of
moneys
being
preuented
,
will
cause
the
greater
employment
to
be
made
vpon
our
natiue
Commodities
,
either
by
the
Merchant
stranger
,
or
by
English
Merchants
to
whom
the
stranger
will
deliuer
his
money
by
exchange
,
for
by
the
exportation
he
shall
haue
no
gaine
,
and
therefore
he
will
expect
the
taker
of
it
:
by
which
plenty
of
money
there
will
be
a
liuely
Trade
,
and
the
cause
of
ouerballancing
will
diminsh
.
3
The
true
value
of
our
money
or
aboue
being
answered
by
a
high
exchange
,
causeth
Merchants
strangers
to
sell
their
Commodities
according
to
the
true
value
of
the
money
,
whereby
the
ouerballancing
must
needs
decrease
of
course
,
4
The
vndervaluation
of
our
moneys
,
and
the
inhauncing
of
forraine
coyne
being
met
withall
,
and
calculated
in
exchange
,
causeth
moneys
and
Bullion
to
be
brought
into
the
Realme
without
losse
,
and
most
times
with
gaine
,
and
sometimes
with
a
little
disaduantage
,
because
our
Merchants
will
rather
then
to
buy
forraine
commodities
deere
▪
haue
their
money
ready
to
be
employed
again
.
●
this
doth
also
meete
with
the
said
ouer
ballancing
.
5
Young
English
Merchants
which
are
takers
of
moneys
beyond
the
Seas
,
will
receiue
more
by
an
high
exchange
there
,
and
finding
plenty
of
money
,
shall
not
be
driuen
to
make
rash
sales
or
barters
to
their
losse
,
and
hinderance
of
others
,
which
will
also
moderate
the
said
ouer
ballancing
.
6
▪
When
the
Spanish
Merchants
shall
not
be
able
to
deliuer
their
Royal●s
of
8
,
or
the
money
receiued
for
them
by
a
low
exchange
beyond
the
Seas
,
but
according
to
the
true
value
required
by
a
iust
and
lawfull
exchange
:
then
they
will
find
no
more
gaine
there
then
here
,
which
will
cause
them
to
import
the
said
Royalls
here
,
where
the
inward
value
will
be
answered
vnto
them
:
&
the
diuerted
Trade
by
these
meanes
will
returne
into
England
,
to
employ
the
said
Royalls
or
the
moneys
made
thereof
,
vpon
our
Bayes
,
Sayes
,
and
other
Draperies
,
which
of
course
wil
quallify
the
said
ouerballancing
.
7
Thus
moneys
and
Bullion
will
then
be
imported
by
a
necessitie
of
nature
beyond
all
resistance
,
and
the
Dollers
,
Royalls
of
8
,
and
other
coynes
brought
in
vpon
occasion
or
accidentally
,
will
remaine
within
the
Realme
,
when
there
shall
be
no
gaine
by
the
exportation
,
because
this
true
exchange
(
Rising
and
falling
neuerthelesse
aboue
the
value
,
and
not
vnder
)
will
answer
the
said
value
,
and
preuent
that
gaine
,
which
is
now
procured
in
danger
of
the
Lawes
,
aduenture
of
the
Seas
,
and
of
lewd
persons
.
So
that
by
comparing
the
precedent
benefits
with
the
former
inconueniences
,
the
Center
of
the
Circle
of
Commerce
is
grounded
.
Consider
wee
now
this
Center
(
Gaine
)
in
euery
particular
vpon
the
premises
,
drawing
from
the
Circumference
all
direct
lines
into
it
,
and
excluding
all
obliquie
,
curuey
,
and
Helicall
lines
,
and
we
shall
find
,
that
Nothing
doth
force
Trade
but
Gaine
.
Gaine
had
vpon
moneys
by
vnderualuation
in
exchange
,
and
inhauncing
of
forraine
coyne
beyond
the
Seas
:
causeth
our
moneys
to
be
exported
.
Gaine
had
vpon
moneys
by
exchange
and
true
valuation
,
causeth
moneys
to
be
brought
in
.
Gaine
vpon
moneys
being
taken
away
and
answered
by
true
exchange
,
keepeth
moneys
within
the
Realme
.
Gaine
giuen
vpon
moneys
imported
heere
,
equall
to
the
gaine
made
beyond
the
Seas
:
will
preuent
the
diuersion
of
the
Royalls
of
8.
Gaine
more
made
by
our
moneys
,
then
by
our
commodities
exported
:
causeth
lesse
employment
to
be
made
vpon
our
Commodities
,
and
greater
exportation
.
Gaine
made
by
a
low
exchange
,
vndervaluing
our
moneys
,
causeth
them
to
be
sold
lesse
beyond
the
Seas
,
and
forraine
wares
deerer
,
to
ouerballance
vs
.
Gaine
made
vpon
our
natiue
Commodities
,
is
Really
imported
by
moneys
and
Bullion
,
when
there
is
no
losse
by
the
importation
of
moneys
.
Gaine
had
vpon
forraine
coyne
within
the
Realme
,
being
preuented
by
the
value
in
Exchange
,
keepeth
the
coyne
within
the
Realme
and
Mint
.
Gaine
vpon
moneys
being
greater
beyond
the
Seas
then
with
vs
in
England
,
draweth
moneys
thither
,
and
hindreth
moneys
to
be
imported
,
the
want
whereof
maketh
a
dead
Trade
.
Gaine
had
by
exchange
vpon
young
Merchants
of
smal
meanes
,
spoileth
the
vent
of
our
commodities
,
by
ouerthrowing
the
Market
of
others
.
Gaine
giuen
by
exchange
of
moneys
by
Bill
,
according
to
the
true
value
or
aboue
the
same
:
causeth
forraine
Commodities
to
be
sold
better
cheape
within
the
Realme
,
and
giueth
a
direction
(
Tacite
)
to
sell
our
natiue
Commodities
with
more
gaine
and
reputation
.
Gaine
procured
by
our
Commodities
outwards
,
more
then
by
forraine
Commodities
inwards
,
which
meanes
to
import
Bullion
and
moneys
to
be
done
by
this
true
valuation
in
exchange
as
aforesaid
,
will
preuent
the
ouerballancing
of
Trade
,
and
bring
all
things
in
tune
,
when
the
Center
(
Gaine
)
findeth
rest
in
Proprio
Loco
.
The
consideration
hereof
excludeth
all
vniust
,
vnlawfull
,
and
priuate
gaine
,
made
to
the
preiudice
of
the
Realme
by
the
ouersight
of
Merchants
,
which
seeme
to
steere
the
helme
when
Palynicrus
was
sleepie
.
This
is
that
Geometricall
Axiom
or
Maxime
,
Circulus
Tangit
Planum
vnico
Puncto
heretofore
obserued
,
this
is
properly
the
Scope
of
Merchants
,
Personall
and
Prouinciall
Exchanges
are
comprised
in
this
Mistery
,
which
Misselden
will
make
to
be
no
Mistery
,
and
to
vse
his
owne
words
neuertheles
.
All
the
knowledge
of
Commerce
is
presented
and
represented
in
this
History
.
All
the
riuers
of
Trade
spring
out
of
this
source
,
Misseldens
Ballance
of
Trade
,
which
is
without
a
Paralell
:
which
to
proue
let
vs
now
examine
what
is
presented
and
represented
by
his
vncertaine
Ballance
.
A
Merchant
saith
he
,
when
he
will
informe
himselfe
how
his
Estate
standeth
,
IF
this
Merchant
should
not
looke
to
the
Center
.
(
Gaine
)
in
the
meane
time
,
what
will
the
taking
of
a
Ballance
auaile
him
,
or
to
what
end
and
purpose
will
this
tend
?
Surely
onely
for
a
triall
to
find
out
whether
he
hath
gained
or
lost
,
this
is
all
a
Ballance
can
doe
.
And
although
a
Merchant
can
(
in
some
sort
)
doe
this
:
It
followeth
not
that
the
Royall
Merchant
or
a
Prince
can
doe
it
,
albeit
he
is
the
Father
of
the
great
familie
of
the
Commonwealth
,
for
the
cause
of
Trade
is
not
in
his
owne
power
,
but
Merchants
doe
manage
the
same
,
who
(
as
hath
bin
shewed
)
may
procure
their
priuate
gaine
,
and
yet
impouerish
the
Kingdome
.
So
that
the
Casting
vp
of
this
Ballance
,
Essential
parts
of
Trade
be
wisely
directed
and
obserued
by
the
Prince
,
according
to
the
said
Center
of
Commerce
,
and
not
by
this
conceited
Ballance
.
Misselden
hauing
found
an
auncient
worm-eaten
Ballance
vpon
Record
,
which
is
said
to
be
made
in
the
28
yeare
of
Edward
the
Third
:
might
very
well
haue
ouer
past
the
same
,
seeing
the
imperfection
thereof
:
Then
he
commeth
to
a
Positiue
constitution
of
the
forme
of
a
Ballance
in
the
yeares
of
our
Lord
1612
,
and
1621.
And
here
lieth
the
Pot
of
Roses
,
to
know
whether
the
natiue
Commodities
exported
,
and
the
forraine
Commodities
imported
doe
ballance
or
ouerballance
one
another
in
the
Scale
of
Commerce
:
Surely
he
did
not
consider
this
without
a
night-cap
,
for
it
deserueth
to
be
written
in
Capitall
Letters
.
Moneys
will
not
be
imported
so
long
as
there
is
a
losse
by
the
bringing
in
of
them
:
and
if
Commodities
be
brought
in
,
it
increaseth
the
said
ouerballancing
,
as
a
Deceptio
Visus
vpon
your
Scale
of
Commerce
,
whereby
you
cannot
discerne
the
truth
:
but
you
must
of
force
find
your
Ballance
false
,
The
Ballance
,
A
deceptio
Visus
.
and
your
iudgement
vncertaine
:
and
herein
is
no
more
hope
of
a
remedie
,
then
there
is
to
ouertake
a
man
which
runneth
to
the
East
,
and
you
persue
him
towards
the
West
,
running
from
him
.
But
let
vs
come
somewhat
closer
to
the
consideration
of
this
Ballance
,
and
suppose
,
that
by
increasing
our
Manifactures
by
foure
or
fiue
hundreth
thousand
pounds
yearely
more
to
be
exported
,
this
ballance
will
be
reformed
,
is
not
this
like
and
feasible
to
be
done
?
I
answere
,
that
although
it
were
feasible
to
make
and
vent
such
a
quantity
of
Manifactures
yearely
:
yet
is
it
not
like
to
moderate
the
ouerballancing
.
For
all
men
of
iudgement
will
say
,
that
the
proceed
or
returne
of
the
said
Manifactures
will
come
vnto
vs
in
forraine
Commodities
,
because
moneys
and
Bullion
cannot
be
brought
in
but
to
losse
,
as
the
case
standeth
.
So
that
still
our
ouerballancing
increaseth
,
for
when
more
Commod●●●
are
imported
,
then
the
Kingdome
spends
:
〈◊〉
must
be
exported
againe
for
other
places
,
and
ot●●●
Commodities
are
imported
againe
for
the
retu●●
thereof
,
to
augment
the
said
ouerballance
,
nay●●
force
vs
to
weare
more
forraine
wares
through
the
aboundance
of
it
,
and
to
neglect
the
vse
of
our
natiue
Commodities
.
But
saith
he
,
Tot
sensus
,
quot
capita
:
As
many
mindes
,
as
men
:
euery
man
abounding
in
his
owne
sence
:
a
maruelous
grounded
rule
to
build
vpon
where
there
is
so
many
Cannons
,
must
wee
needs
saile
betweene
Scylla
and
Charibays
of
an
vncertaine
Ballance
without
a
Paralell
,
The
vncertainty
of
this
Ballance
doth
consist
of
many
particulars
,
whereby
it
is
so
farre
from
vnderstanding
,
as
conclusion
is
from
order
.
First
.
This
Ballance
cannot
be
certainly
prescribed
by
one
yeares
time
,
Secondly
for
moneys
secretly
exported
:
the
returne
in
Commodities
may
be
yet
to
come
,
or
if
it
be
for
gaine
had
by
intrest
money
or
exchanges
,
it
neede
neuer
to
returne
for
the
Merchant
stranger
:
as
also
for
moneys
taken
vp
by
exchange
to
be
employed
vpon
Commodities
and
other
meanes
whereof
the
Ballance
cannot
be
sensible
,
not
comming
to
be
Ballanced
.
Thirdly
,
The
profit
made
vpon
our
natiue
Commodities
,
as
also
for
the
forraine
Commodities
and
the
charges
is
incertaine
,
both
in
the
exportation
of
the
one
,
and
the
importation
of
the
other
,
which
he
bringeth
vpon
the
Ballance
by
estimate
,
and
is
meerely
coniecturall
.
Fourthly
,
The
forraine
Commodities
are
not
vnderrated
by
one
third
part
in
the
Custome
Bookes
,
in
comparison
of
our
natiue
Commodities
.
Fiftly
,
The
fine
goods
secretly
conueyed
inwards
more
then
outwards
,
by
one
hundreth
thousand
pounds
yearely
,
is
but
a
supposition
.
Sixtly
,
The
payment
of
Customes
being
vncertaine
,
and
the
concealing
of
Custome
comming
to
be
twenty
for
one
in
the
calculation
,
maketh
the
accompt
to
be
most
incertaine
.
Seuenthly
and
lastly
,
There
may
be
so
much
gotten
by
Commodities
exported
&
retransported
,
and
for
that
gaine
forraine
Commodities
brought
in
,
that
it
may
seeme
to
be
an
ouerballance
,
when
it
is
not
.
The
premises
considered
,
what
Center
is
there
in
this
Ballance
?
is
it
not
like
vnto
those
great
Balloons
,
that
men
play
with
all
fild
with
wind
?
for
there
is
not
any
sollid
substance
,
We
all
agree
that
there
is
an
ouerballance
,
which
must
be
remeded
by
the
redresse
of
the
causes
,
and
not
by
the
study
of
Ballances
,
which
demonstrate
little
in
truth
and
certainty
,
but
much
in
imagin●●●
.
on
and
conceit
.
It
is
Gaine
that
beareth
the
sway
,
and
it
is
more
then
necessary
to
Tautologize
and
to
repeate
things
of
this
nature
,
for
they
produce
fearfull
effects
,
we
feele
them
,
we
complaine
of
them
:
and
wofull
experience
sheweth
vnto
vs
,
that
it
is
high
time
to
reforme
them
.
For
Abyssus
Abyss●●
inuocat
.
By
the
aforesaid
distinction
,
euery
man
of
vnderstanding
can
discerne
the
particular
&
priuate
gaine
from
the
generall
benefit
,
whereby
he
may
the
better
perceiue
the
weaknes
of
Misseldens
obiections
.
He
saith
.
Againe
.
The
higher
the
Exchange
is
in
Dutchland
,
the
more
losse
to
the
deliuer
,
and
gaine
to
the
taker
:
which
is
likewise
there
the
Merchant
stranger
,
and
this
he
declareth
by
example
.
THis
Obiection
is
the
first
Pernitious
Argument
noted
in
this
Chapter
,
(
which
representing
vnto
vs
the
Equinoctiall
Line
)
requireth
equallity
and
equity
in
the
valuation
of
Moneys
and
true
Exchanges
for
the
generall
good
,
as
before
is
demonstrated
:
the
absurdity
of
which
obiection
let
vs
now
declare
.
Suppose
that
(
notwithstanding
the
inhauncing
of
the
forraine
coyne
beyond
the
Seas
)
the
price
of
exchange
were
still
at
euen
money
,
as
it
was
about
80
yeares
past
,
as
hath
beene
declared
,
namely
at
twenty
shillings
here
with
vs
,
which
is
a
low
exchange
vpon
the
Ballance
of
Trade
.
A
Merchant
stranger
selling
heere
his
forraine
Commodities
bought
beyond
the
seas
with
the
inhaunced
coine
,
finding
this
low
exchange
to
make
his
returne
by
,
will
resolue
either
to
buy
our
Commodities
,
or
to
export
our
moneys
,
for
by
this
low
exchange
he
shall
be
a
very
great
looser
:
so
that
our
English
Merchants
shall
find
no
money
to
be
taken
vp
by
exchange
,
to
make
their
ready
employment
vpon
our
Commodities
,
and
the
Merchant
stranger
will
buy
them
,
or
else
the
money
will
be
conueyed
away
for
the
most
part
,
notwithstanding
the
Statute
of
employment
,
which
as
it
is
a
losse
to
the
Realme
:
so
is
it
to
the
English
Merchants
in
particular
,
who
might
haue
employed
the
same
.
So
then
è
contrario
.
The
lower
the
Exchange
is
in
England
,
the
lesse
mony
Againe
.
The
lower
that
the
Exchange
is
in
Dutchland
,
the
lesse
money
is
taken
vp
by
the
Merchant
stranger
there
,
and
the
more
〈…〉
are
imported
,
both
by
the
English
Merchants
and
the
Merchant
strangers
,
WHich
bringeth
an
ouerballancing
,
and
increaseth
the
transportation
of
our
moneys
:
and
is
also
a
hinderance
to
the
importation
,
because
their
moneys
are
inhaunced
,
whereby
it
is
manifest
,
that
one
extremity
enforceth
another
.
What
is
now
the
Medium
,
or
rather
,
But
this
reformation
or
Par
of
exchange
,
For
the
exchange
is
that
,
which
representeth
to
our
English
Merchant
,
his
whole
estate
beyond
the
Seas
,
for
his
ready
vse
and
employment
thereof
in
England
vpon
all
occasions
.
So
that
if
there
should
be
a
stop
in
the
course
of
exchange
,
I
answere
.
Blackwell
Hall
,
whereby
the
remedy
will
be
farre
worse
then
the
disease
.
As
Misselden
laboureth
to
proue
.
But
the
English
Merchant
must
needes
recouer
the
Experience
(
as
I
haue
said
)
maketh
a
full
answer
,
Misselden
will
insinuate
of
many
obiections
that
can
be
made
against
this
reformation
so
much
requisite
:
but
they
are
but
words
,
For
all
these
Arguments
are
as
Lime
Twiggs
or
Hops
to
keepe
him
still
inclosed
within
his
Circle
.
He
replieth
,
that
although
there
wanted
not
Takers
of
money
by
exchange
for
Hamborough
,
when
the
exchange
rise
from
28
s.
to
35
s
,
yet
it
doth
not
follow
,
that
therefore
there
would
be
Takers
at
the
Par
of
Exchange
,
for
it
is
a
different
case
.
Indeede
he
doth
not
vnderstand
the
case
,
That
he
vnderstandeth
not
himselfe
in
the
Par
of
Exchange
,
(
which
I
haue
distinguished
by
the
Positiue
Exchange
from
the
Currant
Exchange
)
appeareth
also
by
his
inferrence
,
That
it
may
proue
also
another
bar
to
Trade
,
and
cause
the
Cloth
Trade
both
in
the
Clothier
and
Merchants
hands
to
be
so
much
dearer
to
them
,
and
cheaper
to
the
stranger
by
how
much
the
naturall
course
should
be
altered
in
exchange
,
when
it
should
be
answered
by
the
price
of
exchange
,
to
the
great
aduantage
of
forraine
Nations
,
and
losse
of
the
Kingdome
.
This
man
seeketh
a
knot
in
a
Bulrush
,
and
concludeth
,
that
all
he
hath
alleaged
is
as
cleare
as
the
Sunne
:
and
that
vntill
the
Kingdome
come
to
an
ouerballance
of
Trade
,
the
causes
of
the
decay
of
Trade
cannot
be
taken
away
:
for
the
decay
of
Trade
,
and
the
ouerballance
cannot
stand
together
.
That
is
to
say
,
a
sicke
body
cannot
be
in
health
vntill
it
be
cured
:
which
is
a
sentence
containing
many
sentences
,
when
the
ouerballance
is
the
decay
of
Trade
.
To
speake
ingeniously
,
can
the
making
of
a
Ballance
cause
moneys
and
Bullion
to
be
brought
in
,
or
hinder
the
transportation
of
moneys
?
or
can
the
calculation
of
the
said
Ballance
procure
that
our
natiue
Commodities
exported
,
shall
surmount
in
price
and
quantity
the
forraine
Commodities
brought
in
.
And
lastly
,
can
the
said
Ballance
bring
to
passe
that
Spanish
Royalls
of
8
(
now
diuerted
from
vs
)
shall
be
imported
,
and
when
the
said
Royalls
and
Dollers
are
brought
in
,
that
they
shall
not
be
carried
out
againe
,
but
be
brought
to
the
Mint
:
as
the
said
Center
(
Gaine
)
will
doe
by
the
true
course
of
exchange
,
to
the
enriching
of
the
Realme
,
and
preuention
of
ouerballancing
?
Questionles
it
cannot
,
for
the
end
of
the
Ballance
(
by
his
owne
confession
)
is
last
in
place
,
but
first
and
chiefest
in
purpose
,
Circle
of
Commerce
into
the
Seals
of
the
Ballance
,
and
lay
a
feather
against
it
,
and
it
will
weigh
downe
the
same
.
But
some
will
say
:
Why
doe
you
expostulate
or
make
inquiry
of
the
end
of
this
Ballance
,
Ballance
of
Trade
,
for
riot
and
excesse
may
be
knowne
without
such
a
Ballance
,
and
Pouerty
and
want
is
not
without
feeling
,
neither
ought
to
be
without
commiseration
.
For
the
transportation
of
moneys
to
heauen
is
lawfull
,
by
charitable
giuing
to
the
poore
,
which
God
himselfe
hath
promised
to
reward
,
although
men
were
neuer
so
vnthankfull
.
Here
(
according
to
Misseldens
maner
)
I
haue
occasion
offered
me
,
to
make
a
very
ample
discourse
concerning
his
presumption
aboue
the
wisedome
of
the
City
of
London
,
his
vncharitable
disposition
to
preuent
tenne
thousand
pounds
yearely
cast
away
to
the
poore
,
and
his
peremptory
and
absolute
conclusion
in
the
gouernment
of
State-affaires
,
wherein
he
is
a
meere
nouice
.
But
my
intention
is
to
be
briefe
and
substantiall
.
To
end
therefore
this
matter
of
Ballance
,
it
may
be
thought
strange
that
some
men
would
be
seduced
thereby
,
T.
M.
P.
49.
52.
and
giue
bridle
to
the
present
course
of
Trade
,
expecting
an
ouerballance
to
happen
on
our
side
without
remouing
of
the
causes
,
after
they
had
spoken
well
concerning
exchanges
:
although
they
confessed
to
be
a
ground
,
as
a
matter
much
too
high
for
their
handling
:
saying
,
That
the
abuse
thereof
is
very
preiuditiall
vnto
this
Kingdome
in
particular
,
whilst
in
the
interim
the
benefits
doe
arise
vnto
other
Countries
,
who
diligently
obseruing
the
prices
,
whereby
the
moneys
be
exchanged
,
may
take
aduantage
to
carry
away
the
gold
and
siluer
of
this
Realme
,
at
those
times
when
the
rate
of
our
Starlin
money
(
in
exchange
)
is
vnder
the
value
of
that
standard
,
vnto
which
place
they
are
conueyed
,
for
in
respect
the
prices
of
the
exchanges
doe
rise
and
fall
according
to
the
plenty
and
scarcity
of
money
,
which
is
to
be
taken
vp
or
deliuered
out
:
the
exchange
is
hereby
rather
become
a
Trade
for
some
great
moneyed
men
,
then
a
furtherance
and
accommodation
of
Recall
Trade
of
Merchants
,
as
it
ought
to
be
in
the
true
vse
thereof
:
and
thus
many
times
money
may
be
made
ouer
hither
by
strangers
to
a
good
gaine
,
and
presently
carried
beyond
the
Seas
to
a
second
profit
.
And
yet
the
mischiefe
ends
not
here
:
for
by
these
meanes
the
Takers
vp
of
money
in
forraine
Countries
must
necessarilie
driue
a
Trade
to
those
places
from
whence
they
draw
their
moneys
and
so
do
fill
vs
vp
with
forraine
Commodities
,
without
the
vent
of
our
owne
Wares
▪
&c.
And
thus
wee
see
how
the
ouerballance
of
Commodities
is
proceeding
from
the
abuse
of
exchanges
,
which
ouerrule
moneys
,
and
moneys
ouerrule
Commodities
,
as
heretofore
is
manifestly
declared
.
That
the
vnderualuation
of
our
moneys
in
exchange
is
the
efficient
cause
of
the
ouerballancing
of
Trade
,
1.
The
vnderualuation
of
our
moneys
in
exchange
,
2.
proceeding
of
the
inhauncing
of
moneys
beyond
the
Seas
,
which
causeth
3.
(
by
gaine
)
the
transportation
of
our
moneys
,
4.
and
debarred
(
by
losse
to
be
sustained
)
the
importation
of
moneys
and
Bullion
,
5.
hindreth
also
the
bringing
of
Royalls
of
8.
vnto
vs
,
being
otherwise
diuerred
.
6.
The
forraine
Commodities
are
risen
in
price
according
to
the
moneys
inhaunced
.
7.
The
natiue
Commodities
are
in
price
vndervalued
according
to
the
vndervaluation
of
our
moneys
,
all
which
are
feareful
effects
.
For
the
treasure
is
exhaunced
,
the
Realme
impouerished
,
and
money
is
made
a
Merchandise
.
And
this
cannot
be
cured
but
by
the
contrary
,
as
shall
be
declared
in
the
remedies
.
Hitherto
wee
haue
obserued
and
manifestly
proued
.
First
,
That
exchange
is
the
publike
measure
betweene
England
,
and
all
places
where
wee
deale
by
exchange
.
Secondly
,
That
the
moneys
of
the
Realme
are
vndervalued
in
exchange
betweene
vs
and
other
Countries
.
And
thirdly
,
That
Gaine
is
the
Center
of
the
Circle
of
Commerce
,
and
that
the
said
vnderualuation
is
the
efficient
cause
of
the
ouerballancing
of
Trade
:
and
withall
we
haue
showed
that
〈◊〉
conceited
Ballance
of
Trade
proposed
by
Misselden
,
can
be
but
a
Triall
and
Discouery
of
the
ouerballancing
of
Trade
,
without
that
it
can
produce
any
other
benefit
to
the
Common-wealth
.
By
his
last
Ballance
wee
may
perceiue
,
that
all
the
Commodities
exported
,
and
the
Commodities
imported
yearely
,
doe
amount
vnto
fiue
Millions
,
or
fifty
hundreth
thousand
pounds
,
according
to
our
obseruation
in
the
Canker
of
Englands
Common-wealth
.
Now
if
the
losse
by
exchange
were
but
ten
vpon
the
hundreth
,
(
which
wee
haue
proued
aboue
three-score
and
tenne
)
it
would
amount
to
fiue
hundreth
thousand
pounds
yearely
:
CHAP.
IIII.
An
Examination
of
the
Center
of
Commerce
in
the
Trades
from
England
into
other
Countries
.
THe
Tropicke
of
Capricorne
being
the
fourth
Zone
or
girdle
by
our
distribution
,
is
to
vnderp●op
and
sustaine
(
by
the
gaine
of
Trades
)
the
said
Center
or
Gaine
within
the
circumference
of
the
Circle
of
Commerce
,
not
by
an
absolute
power
to
be
left
vnto
Merchants
in
the
managing
of
Trade
,
or
in
the
disposing
of
moneys
,
Commodities
and
exchanges
for
moneys
:
but
by
a
direction
grounded
vpon
Lawes
,
Ordinances
,
and
Proclamations
.
For
in
regard
of
State
affaires
,
Merchants
are
ignorant
in
the
course
of
Trafficque
,
for
asmuch
as
they
doe
onely
study
for
priuate
benefit
,
so
that
they
must
haue
leaders
and
conductors
:
whereunto
Buckes
and
Goates
haue
been
compared
in
times
past
,
leading
the
silly
sheep
to
feede
in
mountainous
places
.
To
proue
therefore
that
this
is
no
new
doctrine
or
inuention
of
mine
,
as
Misselden
alleageth
:
let
vs
enter
into
consideration
of
the
following
obseruations
,
before
our
intended
examination
of
the
Center
of
Commerce
in
forraine
Trade●
.
It
is
neere
350.
yeares
since
King
Edward
the
first
did
erect
the
office
of
the
Kings
Royall
Exchanger
,
King
Edward
the
third
,
did
constitute
diuers
exchanges
In
primo
of
King
Henry
the
eight
,
Sir
Thomas
Bullen
Knight
,
was
the
Kings
exchanger
by
Letters
Patents
for
all
changes
and
rechanges
for
forraine
parts
,
as
by
the
Records
appeareth
in
his
Maiesties
Exchequer
:
and
there
also
you
shall
finde
,
that
during
the
r●igne
of
the
said
king
Henry
the
seuenth
,
one
Petrus
Contarin
a
Veneti●n
Merch●nt
,
was
sued
in
the
tenth
yeare
of
his
raigne
vpon
the
said
Statutes
,
and
the
like
●u●e
was
brought
in
the
ninteenth
yeare
following
,
against
Dominico
Polli●o●o
the
Popes
collector
.
And
Lorenzo
Alb●rti
vpon
the
like
condemnation
did
pay
933
l.
This
caused
the
said
King
Henry
the
eight
in
the
twenty
two
yeare
of
his
Raigne
,
to
make
a
very
seuere
Proclamation
,
that
no
person
should
make
any
exchange
contrary
to
the
true
meaning
of
the
said
Acts
and
Statutes
:
but
as
Warres
discompound
all
good
orders
,
and
necessity
hath
no
law
:
so
(
in
the
latter
end
of
this
Kings
Raigne
)
by
reason
of
the
base
money
then
coyned
,
this
office
of
exchanges
did
discontinue
;
And
in
Edward
the
sixt
his
time
,
the
practise
of
exchange
was
for
a
time
prohibited
,
but
vpon
vrgent
necessity
of
the
conueniences
therof
,
againe
admitted
vnto
Merchants
.
In
the
beginning
of
the
Raign
of
the
late
Queen
Elizabeth
of
blessed
memory
,
the
abuses
of
exchanges
were
called
in
question
by
Mr.
Hussly
,
gouernour
of
the
Merchants
Aduenturors
:
afterwards
the
Lord
Burghley
,
Lord
Treasurer
of
England
,
had
a
grant
by
Letters
Patents
of
the
said
office
for
23.
yeares
,
who
not
being
informed
how
the
same
should
be
truely
Gouerned
,
(
after
Proclamation
made
)
could
not
finde
conuenient
meanes
to
establish
the
same
:
this
in
progresse
of
time
did
touch
the
said
Lord
so
much
in
his
honor
and
reputation
,
that
his
Sonne
Sir
Robert
Cecill
,
Lord
Treasurer
of
England
after
him
,
would
neuer
incline
to
establish
the
said
office
,
much
lesse
to
reforme
the
abuses
thereof
:
besides
some
other
consideration
might
moue
him
,
because
the
busines
was
propounded
by
others
.
So
that
Misselden
doth
speake
vntruly
that
the
same
was
reiected
,
The
importancy
of
the
matter
of
exchange
,
Sauoy
▪
Regent
of
the
Low
Countries
,
alleageth
that
one
halfe
penny
in
the
pound
losse
,
would
ruine
the
State
of
those
Countries
:
as
by
antient
records
in
the
Exchequer
appeareth
.
King
Henry
the
eight
being
come
to
Callice
,
required
the
Arch-dutches
of
Austria
,
then
gouernor
of
the
Low
Countries
,
to
permit
his
gold
and
siluer
to
passe
currant
in
her
Dominions
a
little
aboue
the
true
value
thereof
,
for
the
better
inabling
of
his
Souldiers
and
Merchants
.
The
Dutchesse
dispatched
Thomas
Gramay
generall
of
her
mints
,
and
Iohn
Dewsbrooke
her
Assay-master
,
with
instructions
to
the
King
of
England
;
aduertising
him
,
The
like
is
affirmed
to
ensue
by
the
tolleration
of
our
English
siluer
moneys
to
be
ouer
valued
,
Furthermore
she
pleaded
,
that
neuer
any
Prince
would
permit
strange
money
to
passe
higher
then
his
owne
,
but
that
of
custome
they
vse
the
contrary
.
And
which
is
most
effectuall
,
she
vrged
that
the
ordinances
of
the
Mints
for
the
benefit
of
the
Prince
and
his
Subiects
,
ought
euer
to
be
kept
of
good
policy
for
a
Law
,
firme
and
stable
,
forasmuch
the
meanes
of
Princes
and
of
Noblemen
,
together
with
the
rents
,
fees
,
and
wages
of
all
his
Subiects
are
taxed
and
valued
,
and
all
Merchandise
ruled
and
gouerned
thereby
:
wherefore
without
great
necessity
or
evident
vtility
,
no
alteration
ought
to
be
made
in
the
price
of
moneys
.
Vpon
this
remoustrance
,
the
Arch-Dutchesse
Commissioners
&
the
Mint-masters
of
the
Tower
made
assayes
of
all
English
and
Flemish
coynes
,
and
after
long
disputing
and
wrangling
,
the
King
could
neuer
obtaine
to
haue
his
coyne
passe
at
an
halfe
penny
aboue
the
true
value
.
What
shall
wee
say
of
these
our
dayes
,
wherein
we
suffer
so
great
an
vnderualuation
of
our
moneys
in
exchange
,
and
inhaunoing
of
forraine
coyne
:
whereby
the
Trade
is
decayed
,
the
Realme
impouerished
,
and
euery
man
(
in
a
maner
)
vndone
?
Are
all
the
precedent
Lawes
and
ordinances
made
in
vaine
and
forgotten
?
When
Hercules
had
lo●t
his
oxen
,
Cacus
Denne
:
now
Cacos
in
Greeke
signifieth
Euill
,
which
draweth
men
backwards
by
the
taile
as
Cacus
did
the
oxen
:
whenc
I
doe
conclude
,
that
the
said
Lawes
and
ordinances
are
hid
in
Misseldens
Denne
;
for
in
his
Circle
he
will
take
no
notice
of
them
,
Lord
High
Treasurer
of
England
,
(
whose
name
Misselden
hath
omitted
in
his
Epistle
Dedicatory
)
for
his
Lordship
hauing
knowledge
of
moneys
and
exchanges
,
is
better
inabled
to
aduance
this
important
matter
,
if
it
be
possible
that
this
time
can
entertaine
good
things
;
wherein
I
am
the
more
confident
,
because
the
King
himselfe
in
his
high
wisedome
was
desirous
to
be
informed
hereof
,
by
the
Lord
Vizcount
Mandeuill
,
Lord
President
of
the
Councell
,
who
calling
(
by
his
Maiesties
commandement
)
vnto
him
,
Sir
Robert
Cotton
,
Knight
and
Baronet
,
Sir
Ralph
Maddyson
,
Knight
,
Mr.
Iohn
Williams
,
his
Maiesties
Goldsmith
,
Mr.
William
Sanderson
,
Merchant
Aduenturer
,
and
my selfe
,
in
the
Moneth
of
Aprill
1622
,
deliuered
to
the
Kings
Maiestie
a
Remonstrance
made
by
vs
,
in
effect
)
wee
exchange
part
of
the
intrinsicque
value
of
our
moneys
for
their
outward
denomination
or
valuation
,
and
that
the
redresse
of
this
vnequall
exchange
betweene
vs
and
forraine
nations
may
be
done
by
his
Maiesties
Proclamation
,
without
inhauncing
of
our
moneys
at
home
,
or
meddling
with
the
finesse
or
allay
thereof
,
in
such
maner
and
forme
as
therein
is
declared
,
and
hereafter
expressed
,
according
to
our
former
declaration
in
Print
,
both
in
the
Treatise
of
the
maintainance
of
free
Trade
,
and
Lex
Mercatoria
,
wherein
Gaine
the
Center
hath
a
Predominant
power
.
And
hereby
it
may
appeare
that
I
haue
not
forgotten
Cato
his
lesson
,
Ad
consilium
non
accesseris
,
antequam
v●ceris
:
neither
am
I
so
audatious
and
vnmannerly
as
Misselden
would
proclame
me
to
the
world
,
he
hath
neede
of
a
leather
case
for
his
tongue
,
that
in
all
his
Circle
supped
vp
such
hot
broath
,
To
examine
now
the
Center
(
Gaine
)
in
euery
particular
Trade
of
the
Realme
for
forraine
parts
,
wee
will
begin
with
the
song
of
foure
parts
,
so
termed
by
Misselden
;
strangers
,
of
the
staplers
,
of
the
Interloopers
,
and
of
the
Ports
,
and
the
poore
Merchants
Aduenturors
are
made
the
burden
of
the
song
,
a
Fig
:
for
the
Kings
in
times
past
did
so
much
esteeme
that
fruit
,
as
Princes
doe
now
their
Deere
,
and
such
Promouters
as
gaue
information
of
the
taking
of
figgs
,
were
so
called
,
which
agreeth
with
ours
;
howsoeuer
I
hope
that
his
song
will
be
a
recantation
of
his
errors
,
(
as
all
good
Patriots
ought
to
doe
)
albe●t
,
he
may
perhaps
(
for
a
time
)
recantare
,
that
is
,
sing
it
ouer
againe
.
Humanum
est
errare
,
sed
perseuerare
Diabolicum
.
As
I
will
not
scatter
any
society
or
corporations
,
in
that
which
proueth
preiuditiall
to
the
Common-wealth
,
so
haue
I
forborne
to
speake
that
which
neuerthelesse
is
very
considerable
,
and
hath
beene
obserued
by
that
worthy
Councellor
and
Secretary
of
State
,
Sir
Francis
Walsingham
,
touching
Corporations
,
where
the
absolute
disposing
of
the
Trade
is
left
vnto
them
,
without
the
Prince
his
guide
and
direction
for
Commodities
,
Moneys
,
and
Exchanges
:
all
my
writings
are
emblazoned
with
the
praise
and
commendations
of
Merchants
,
albeit
Misselden
goeth
about
to
make
me
distastfull
in
peruerting
or
misconstruing
of
them
after
his
maner
,
especially
that
I
would
haue
the
indraping
of
our
Woolls
to
be
done
in
forraine
parts
,
which
he
can
neuer
proue
:
neither
will
I
make
any
other
answer
in
defence
thereof
then
is
made
already
;
For
it
is
recorded
,
that
he
who
will
make
a
great
fire
continually
,
must
rake
together
much
meane
fewell
:
and
he
that
will
be
alwayes
shaking
the
spleene
of
others
,
must
haue
(
as
this
man
hath
)
much
curiosity
,
more
words
,
and
most
lyes
,
his
face
must
be
as
hard
as
the
shell
of
a
Tortis
;
his
tongue
as
sharpe
as
the
quills
of
a
Procerpine
;
his
heart
as
vncleane
as
the
Stable
of
Augnis
,
before
Hercules
brought
in
the
riuer
Alpheus
to
clense
it
.
He
saith
.
That
the
State
hath
beene
abused
by
information
,
that
the
Dutch
could
not
subsist
without
our
English
Cloth
.
THere
is
not
any
such
thing
in
my
writings
,
neither
did
I
euer
stand
so
much
vpon
the
necessary
vse
of
our
Woolls
:
but
I
did
insist
vpon
two
principall
points
concerning
the
sale
of
Cloth
,
That
one
man
which
Malynes
out
of
Mallice
Pickes
and
Points
at
,
is
indeede
an
ample
Trader
in
colloured
Cloth
,
but
not
in
Kerseys
:
yet
so
as
there
are
very
many
others
of
the
Company
that
are
also
Traders
in
coloured
Cloth
as
well
as
he
.
HAd
not
this
man
beene
one
of
his
supporters
,
by
whose
mouth
his
pen
speaketh
:
I
would
haue
imagined
,
that
he
had
beene
in
the
Citty
of
Butus
,
and
had
consulted
with
the
Oracle
of
Laton●
,
where
those
that
sleepe
before
her
image
can
make
a
Prediction
by
the
first
word
of
them
that
next
met
them
.
Aspis
a
viper
a
venenum
Mutuatur
:
Here
Misselden
▪
doth
mount
his
great
ordinance
against
the
Merchants
of
the
Staple
and
my selfe
:
for
he
stares
as
wildly
vpon
vs
,
the
Staplers
haue
obserued
,
that
the
Merchants
Aduenturers
haue
an
ineuitable
oppertunity
of
combination
,
to
set
what
price
they
please
vpon
Cloth
to
the
Clothier
,
of
Woole
to
the
grower
,
and
of
all
Commodities
exported
and
imported
:
and
to
make
this
to
be
but
a
Suggestion
,
he
careth
not
to
accuse
the
said
Company
of
an
extraordinary
discord
,
whereby
they
do
more
bid
and
out
bid
one
another
at
the
market
,
then
any
other
Companies
:
surely
his
allegation
that
the
Cloth
Trade
grones
vnder
the
burthen
&
cannot
recouer
,
is
then
most
vntrue
,
Free
Trade
,
especially
when
we
should
be
inable
to
make
our
choice
,
to
returne
the
proceede
of
our
Natiue
Commodities
by
all
the
three
simples
of
Trade
to
our
best
aduantage
,
Sixtus
Quintus
was
Pope
,
he
made
such
an
extraordinary
search
in
Rome
for
to
discouer
inueterated
offences
:
that
the
image
of
Saint
Peter
standing
on
the
one
side
of
the
portal
of
his
Cathedrall
Church
,
did
expostulate
with
Saint
Paul
standing
on
the
other
side
,
concerning
these
strict
proceedings
,
and
was
resolued
to
depart
had
not
Paul
diswaded
him
:
not
withstanding
that
he
had
good
cause
,
for
hauing
cut
off
Malchus
his
eare
;
Misseldens
examinations
of
all
their
ancient
and
moderne
offences
.
To
conclude
this
point
of
the
Cloth
Trade
,
which
would
be
in
danger
to
be
wholy
ouerthrowne
.
I
say
:
that
euen
as
there
was
a
man
,
that
bringing
his
Mare
to
drinke
,
thought
that
he
saw
the
Moone
drunke
vp
by
his
Mare
,
which
indeede
was
onely
hid
and
obscured
in
a
cloud
:
the
next
day
consulting
with
his
neighbours
of
Gotham
,
after
much
laying
of
their
Cods
heads
together
,
it
was
concluded
,
that
they
should
rip
the
Mare
and
let
out
the
Moone
:
and
euer
since
these
Goates
of
this
Tropicke
of
Capricorne
,
haue
thought
all
the
world
beholding
to
them
for
the
recouery
of
the
Moone
.
Euen
so
are
the
Merchants
Aduenturors
:
nay
,
all
the
Kingdome
beholding
vnto
Misselden
for
the
preseruation
of
the
Cloth
Trade
.
By
this
time
he
is
come
to
Monopolies
,
French
Prouerbe
,
I
l
entend
le
par
,
is
no
good
phrase
in
French
:
here
he
will
correct
Magnificat
,
et
nescit
quid
significat
.
The
reformation
of
the
abuse
of
exchange
is
to
be
done
by
all
men
,
and
therefore
cannot
be
termed
a
Monopoly
.
And
for
the
con●iderations
requisite
in
Monopolies
,
I
referre
my selfe
to
the
Chapter
of
Associations
in
Lex
Mercatoria
.
Now
for
his
finding
fault
with
a
Sillogisme
made
before
he
was
borne
,
Pill
Panchreston
,
I
would
proue
as
good
and
skilfull
in
equiuocation
,
as
he
is
found
to
be
in
altering
the
state
of
a
question
,
which
is
nothing
but
an
equiuocation
,
as
for
example
:
Quite
Animal
dicit
,
verum
praedicat
,
&
quite
Asinum
idem
et
te
Animal
dicit
ergo
.
The
Elenches
of
Accidents
secundum
quid
,
are
lurking
:
and
yet
withall
the
question
is
changed
,
for
the
reason
is
drawne
(
as
his
maner
is
)
from
a
particular
to
an
vniuersall
,
which
is
preposterous
and
retrograde
.
So
where
the
question
is
begged
,
the
streame
of
the
disputation
turnes
his
channell
.
And
this
will
serue
for
an
answer
to
his
Paralogisme
.
It
followeth
,
That
the
cloth
doth
not
measure
the
yard
,
but
the
yard
the
cloth
.
But
he
addeth
,
the
greater
the
measure
is
,
the
fewer
yards
the
cloth
containeth
;
and
the
lesse
the
measure
,
the
more
yards
.
MAy
it
not
be
said
,
that
the
yard
is
actiue
and
the
cloth
passiue
,
a
Coxcomb
,
because
he
was
passiue
.
If
he
wil
not
beleeue
this
,
Staffords
law
may
make
him
feele
it
,
when
he
meeteth
with
impatient
men
.
It
is
enough
for
me
to
proue
,
that
exchange
is
actiue
,
and
commodities
and
moneys
are
passiue
,
wise
men
do
know
it
,
and
fooles
will
not
vnderstand
it
,
though
you
bray
them
like
Anaxarchus
in
an
iron
morter
.
And
so
much
might
be
said
for
the
difference
betweene
things
done
virtute
officij
&
colore
officij
.
O
ye
Merchants
Aduenturers
,
that
haue
worthily
obtaine●
honour
of
his
Maiestie
,
fauour
of
the
Nobilitie
,
fame
in
the
world
,
loue
of
strangers
,
good
report
of
all
.
This
proceeds
from
some
distemper
,
and
is
worse
then
the
wilde
goose
race
he
taxeth
me
withall
:
a
wilde
goose
chace
,
but
the
wilde
goose
race
is
his
owne
.
Wherefore
I
will
leaue
him
,
and
follow
the
chace
,
as
he
pursueth
the
forenamed
supposed
Aduersaries
,
of
which
I
would
haue
spoken
in
order
as
he
hath
named
them
,
but
that
according
to
the
maner
of
wilde
goose
chace
,
he
hauing
got
the
leading
,
I
must
follow
,
and
that
within
distance
.
And
first
he
leades
me
into
a
defence
of
that
that
I
said
,
the
Merchants
Aduenturers
had
ingrossed
into
their
hands
by
colour
of
their
last
Letters
pattents
,
the
sole
power
of
exporting
cloth
,
&c.
this
he
saith
is
but
my
libertie
of
speech
,
and
so
he
endeuours
to
refute
it
by
extenuating
(
as
it
were
)
his
Maiesties
fauor
towards
them
in
point
of
exportation
.
For
saith
he
,
pag.
53.
in
point
of
exportation
of
white
and
coloured
clothes
,
kersies
,
bayes
,
sayes
,
and
other
new
draperies
,
there
is
no
more
power
giuen
them
in
the
said
later
,
then
his
Maiesty
and
his
royall
Predecessors
haue
honored
them
with
in
former
Letters
pattents
,
of
which
he
recites
the
catalogue
,
and
begins
but
in
the
eighth
yeare
of
Hen.
4.
by
which
he
saith
the
aforesaid
trade
of
cloth
,
&c.
was
intrusted
vnto
them
.
Let
that
be
taken
for
granted
,
and
it
will
plainly
appeare
that
they
haue
no
priuiledge
at
all
in
this
behalfe
,
but
onely
power
to
assemble
themselues
to
chuse
a
Gouerner
to
rectifie
their
owne
abuses
,
and
by
way
of
iustice
to
punish
one
another
for
their
misdemeanours
;
and
to
that
purpose
that
foresaid
grant
was
made
vnto
them
,
William
Oueray
was
assigned
to
be
their
Gouerner
,
as
by
the
said
Letters
pattents
at
large
appeareth
.
And
of
this
power
and
priuiledge
,
all
Merchants
and
Mariners
of
England
,
Ireland
and
Wales
are
to
be
equally
partakers
without
exception
,
limitation
or
difference
of
person
,
countrey
or
commoditie
.
And
whatsoeuer
freedome
of
trade
into
the
parts
therein
expressed
,
his
Maiesties
subiects
are
now
barred
of
,
is
meerly
vsurped
.
And
if
you
aske
me
,
what
meanes
he
then
to
mention
such
large
grants
of
Henry
the
4.
and
other
succeeding
Kings
,
with
new
titles
and
priuiledges
granted
vnto
them
,
and
that
with
prohibition
of
all
other
,
as
he
relates
?
I
answer
,
this
man
either
hath
not
seen
or
not
vnderstood
the
main
of
this
matter
,
but
hath
dealt
in
it
either
ignorantly
or
concealedly
:
for
the
making
plaine
whereof
,
let
vs
obserue
,
that
in
that
time
of
Hen.
the
4.
(
which
he
mentioneth
to
be
the
beginning
of
the
Merchants
Adventurers
)
there
was
then
,
England
,
Ireland
and
Wales
,
not
free
of
the
Staple
,
did
trade
with
English
cloth
in
forrein
parts
:
and
then
finding
themselues
encombred
with
many
euils
(
which
proceeded
from
want
of
gouernment
)
some
of
them
procured
of
King
Henry
the
4.
the
aforesaid
Letters
pattents
,
granted
(
as
before
obserued
)
to
all
the
Kings
Leidges
,
trading
beyond
the
Seas
,
into
Holland
,
Zeland
,
Brabant
,
and
other
Countries
in
amitie
with
this
Kingdome
.
This
was
the
first
originall
and
foundation
of
the
now
Merchants
Aduenturers
,
and
from
that
their
beginning
,
there
was
not
any
other
power
,
priuiledge
or
proprietie
of
trade
,
or
any
other
title
or
addition
giuen
vnto
them
,
but
a
meere
confirmation
of
that
first
grant
(
as
appeareth
by
Misselden
his
owne
booke
)
vntill
the
xx
.
yeare
of
Hen.
7.
when
(
saith
he
)
they
were
honoured
with
the
title
of
Merchants
,
and
had
power
giuen
them
to
keepe
their
Courts
at
Callis
.
Herein
he
dealeth
reseruedly
;
for
though
he
sets
forth
the
truth
,
yet
he
sets
not
forth
the
whole
truth
;
and
that
which
he
concealeth
,
is
the
chiefe
direction
of
that
which
he
expresseth
.
He
sets
forth
their
authoritie
to
keepe
their
Courts
in
their
Towne
of
Callis
,
but
he
conceales
two
matters
of
consequence
contained
in
their
Letters
pattents
,
viz
an
Exception
and
a
Command
:
And
no
maruel
though
he
conceale
it
,
for
that
the
practise
of
the
Merchants
Aduenturers
is
so
contrary
vnto
it
:
for
,
to
say
nothing
of
their
orders
,
but
of
this
disorder
,
they
do
not
onely
refuse
to
admit
his
Maiesties
subiects
to
be
free
of
their
Companie
,
according
to
the
said
Command
contained
in
their
Letters
patents
,
and
according
to
that
good
and
worthy
law
yet
in
force
,
as
aforesaid
,
but
(
as
I
am
informed
)
they
haue
vtterly
reiected
and
of
late
driuen
out
of
trade
(
by
procuring
the
imprisonment
of
their
persons
,
and
seizing
their
goods
,
and
other
like
vexations
)
such
as
haue
been
brought
vp
in
the
trade
of
merchandize
most
part
of
their
liues
,
and
so
many
as
haue
been
obserued
to
trade
for
an
hundred
thousand
pounds
per
annum
and
more
;
yea
notwithstanding
that
some
great
ones
(
whom
I
thinke
not
fit
for
me
to
name
)
haue
spoken
,
yea
and
written
in
some
of
their
behalfes
.
Now
to
proceed
according
to
his
booke
.
From
this
time
the
Merchants
Aduenturers
continued
without
any
other
addition
or
alteration
vntill
the
sixt
yeare
of
Queene
Elizabeth
,
Thomas
Becket
,
for
redresse
whereof
there
were
at
the
same
times
two
worthy
and
memorable
lawes
made
,
that
are
yet
in
force
,
wherein
there
is
a
large
expression
of
the
complaints
and
remedies
.
And
whereas
he
relateth
that
in
the
28.
of
Queene
Eliz.
these
Merchants
Aduenturers
had
a
new
grant
for
enlargement
of
their
trade
into
Germanie
,
with
prohibition
of
all
other
her
Maiesties
subiects
not
free
of
their
said
Fellowship
,
to
trade
into
any
of
their
priuiledged
places
,
which
(
he
saith
)
he
hath
not
by
heare-say
,
but
by
his
owne
collection
.
I
wish
he
had
made
a
true
collection
,
and
expressed
the
especiall
prouiso
,
that
nothing
therein
contained
should
any
way
impeach
or
preiudice
the
Maior
,
Constables
or
Societie
of
the
Merchants
of
the
Staple
,
but
that
they
and
euery
particular
brother
of
that
Companie
should
and
might
vse
their
trade
and
priuiledges
,
as
formerly
they
had
done
,
&c.
And
at
that
same
time
the
Merchants
of
the
Staple
had
as
free
trade
and
large
priuiledges
in
the
Low
Countries
and
Germany
as
the
Merchants
Aduenturers
.
And
in
his
recitall
of
the
Letters
patents
made
vnto
the
Merchants
Aduenturers
by
his
Maiestie
,
he
continueth
his
former
course
,
setting
forth
the
tenor
of
the
grant
to
the
vtmost
,
but
not
a
word
of
the
limitation
and
exception
.
For
it
likewise
pleased
his
Highnesse
into
those
Letters
patents
granted
vnto
the
Merchants
Aduenturers
in
the
xv
.
yeare
of
his
reigne
,
to
insert
a
most
gracious
prouiso
and
large
exception
for
the
Merchants
of
the
Staple
.
The
prouiso
followeth
in
haec
verba
,
viz.
Prouided
alwayes
,
that
these
our
Letters
patents
,
or
any
thing
in
them
contained
,
shall
not
in
any
wise
be
preiudiciall
or
hurtfull
to
the
Maior
,
Constables
and
Fellowship
of
Merchants
of
the
Staple
of
England
,
or
to
their
successors
,
or
to
any
particular
Fellow
of
the
said
Fellowship
that
now
is
or
hereafter
shall
be
,
but
that
they
and
euery
of
them
shall
and
may
haue
and
enioy
all
and
euery
such
grants
,
liberties
and
priuiledges
as
heretofore
haue
bin
granted
vnto
them
by
Vs
or
any
other
our
progenitors
or
predecessors
as
they
or
any
of
them
haue
lawfully
vsed
or
had
,
in
as
large
and
ample
maner
and
forme
as
they
or
any
of
them
might
or
ought
to
haue
had
or
enioyed
before
the
date
of
these
presents
,
any
clause
,
article
or
restraint
in
these
patents
contained
to
the
contrary
notwithstanding
.
If
they
obiect
that
this
prouiso
was
in
respect
of
the
trade
of
wooll
,
and
not
of
cloth
.
I
answer
,
that
cannot
be
so
:
for
that
his
Maiestie
by
his
publique
Proclamation
had
forbidden
all
exportation
of
Wooll
three
yeares
before
;
so
that
there
was
nothing
to
be
reserued
to
the
Merchants
of
the
Staple
by
this
prouiso
,
but
their
trade
of
cloth
.
And
whereas
he
saith
,
that
the
Merchants
of
the
Staple
neuer
shipped
any
clothes
at
any
time
as
Staplers
,
but
as
Merchants
Aduenturers
.
I
answer
,
that
the
Merchants
of
the
Staple
in
their
notes
aforesaid
,
exhibited
to
the
high
Court
of
Parliament
at
the
last
Session
,
did
set
forth
that
they
had
vsed
the
trade
of
shipping
cloth
before
the
Merchants
Aduenturers
or
the
Leidgers
their
predecessors
had
a
name
or
being
,
as
is
before
recited
:
and
that
they
afterward
exercised
the
same
trade
into
the
same
Countries
together
with
the
said
Merchants
Aduenturers
,
as
they
affirmed
they
could
proue
by
Indentures
of
composition
made
betwixt
the
said
two
Companies
.
They
likewise
signified
,
that
they
haue
had
their
trade
of
exporting
all
Staple
commodities
,
whereof
cloth
was
one
,
continued
and
confirmed
vnto
them
by
sundry
Acts
of
Parliament
,
viz.
in
the
27.
of
Edw.
3.
and
likewise
in
the
36.
of
Hen.
6.
together
with
many
other
in
the
times
of
succeeding
Princes
,
and
also
by
diuers
and
sundry
the
gracious
Letters
patents
of
Edw.
2.
Edw.
3.
Ric.
2.
Hen.
4.
Hen.
5.
Hen.
6.
Edw.
4.
Hen.
7.
Hen.
8.
Edw.
6.
with
a
large
and
ample
grant
of
new
titles
and
priuiledges
in
the
third
yeare
of
Queen
Eliz
of
famous
memory
,
which
she
enlarged
vnto
them
in
the
26
yeare
of
her
reigne
;
and
that
all
these
haue
been
effectually
confirmed
vnto
them
by
his
Highnesse
gracious
Letters
patents
.
And
for
further
proofe
of
their
vse
of
the
cloth
trade
,
they
exhibited
a
report
of
three
reuerend
Iudges
,
viz.
Sir
Christopher
Wray
Lord
chiefe
Iustice
,
Gilbert
Gerrard
Master
of
the
Rolles
,
and
Sir
Roger
Manwood
Lord
chiefe
Baron
,
vnto
whom
the
examination
of
that
businesse
was
referred
by
the
right
Honorable
the
then
Lord
high
Treasurer
Burleigh
,
about
the
25
yeare
of
Queene
Eliz.
The
report
followeth
in
haec
verba
,
viz.
We
haue
since
our
last
certificate
thereof
made
to
your
Lordship
,
according
to
your
Lordships
latter
direction
,
sundry
times
heard
both
the
said
parties
and
their
counsels
,
and
thinke
it
best
now
to
certifie
to
your
Lordship
more
at
large
:
the
effect
of
all
materiall
things
that
hath
bin
alledged
and
shewed
of
either
partie
for
the
proofe
or
disproofe
of
the
matter
now
in
question
between
them
,
whereof
some
part
now
shewed
to
vs
is
more
then
was
shewed
before
.
And
first
for
the
effect
of
the
proofe
for
the
Merchants
Staplers
touching
their
antiquitie
and
their
trade
of
woollen
clothes
,
is
as
hereafter
followeth
,
that
is
to
say
,
they
haue
shewed
that
in
the
51
yeare
of
Hen.
3.
there
was
a
Wooll
Staple
,
and
wooll
shipped
,
and
officers
belonging
to
it
.
And
also
that
there
was
a
Maior
and
Company
of
Staplers
in
Antwerpe
an.
12.
of
Edw.
2.
as
appeares
by
a
records
out
of
the
office
of
the
Clarke
of
the
Pipe
in
the
Exchequer
.
Also
they
doe
shew
forth
three
seuerall
Statutes
,
one
in
the
14.
of
Ric.
2.
&
another
in
the
11.
of
Hen.
4.
ca.
8.
and
one
other
in
the
9.
of
Hen.
5.
ca.
9.
whereby
amongst
diuers
other
things
woollen
clothes
are
recited
in
the
preambles
to
be
merchandizes
of
the
Staple
.
Item
,
that
the
Merchants
of
the
Staple
haue
shipped
woollen
clothes
,
tempore
Hen.
6.
as
by
the
Custome
booke
of
Boston
appeareth
,
wherein
is
entred
that
the
Merchants
of
the
Staple
shipped
cloth
versus
Leiden
in
Holland
,
and
also
in
the
ships
of
Camphire
and
Sirecsea
in
Zealand
,
which
they
alledge
is
probable
to
go
into
the
Low
Countries
,
for
that
at
that
time
there
was
no
trade
into
Spaine
with
clothes
,
and
for
France
there
is
no
trade
of
broade
clothes
thither
,
and
the
ships
be
named
in
the
Custome
bookes
Nauiculae
,
and
therefore
not
meet
to
brooke
the
Spanish
seas
to
carry
clothes
thither
.
Item
,
that
the
Merchants
of
the
Staple
haue
proued
aboue
an
hundred
meere
Staplers
not
free
of
the
Merchants
Aduenturers
,
to
haue
been
shippers
of
woollen
clothes
,
in
the
reignes
of
King
Ric.
2.
King
Hen.
6.
King
Edw.
4.
and
King
Hen.
7.
against
which
no
proofe
hath
been
made
by
the
Aduenturers
to
the
contrary
,
besides
those
which
shipped
in
the
reigne
of
Hen.
8.
and
her
Maiesties
reigne
.
Item
,
that
King
Hen.
6.
an.
36.
of
his
reigne
,
by
his
Charter
to
the
Merchants
of
the
Staple
,
did
publish
that
the
Charter
of
Hen.
4.
granted
to
his
Leidges
,
and
now
alledged
by
the
Merchants
Aduenturers
for
their
part
,
were
not
meant
to
trouble
or
disquiet
the
Merchants
of
the
Staple
in
bodies
or
goods
in
the
Low
Countries
;
and
therefore
concerning
the
Merchants
of
the
Staple
or
their
goods
,
the
said
Charter
of
Hen.
4.
should
not
extend
.
Item
,
it
is
also
proued
,
that
the
Merchants
of
the
Staple
haue
shipped
woollen
clothes
in
the
reignes
of
King
Hen.
8.
and
some
in
this
Queens
time
,
as
wel
as
in
the
reignes
of
Ric.
2.
King
Hen.
6.
Edw.
4.
and
King
Hen.
7.
already
reported
.
Item
,
That
her
Maiestie
an.
3.
of
her
Highnesse
reigne
granted
and
confirmed
to
the
Merchants
of
the
Staple
,
all
such
priuiledges
and
liberties
as
they
did
,
might
or
ought
to
haue
enioyed
a
yeare
before
the
losse
of
Callis
,
by
grant
of
Charter
,
law
,
prescription
or
custome
,
notwithstanding
none
vse
,
forfeiture
,
abuse
,
law
or
statute
,
or
any
other
thing
to
the
contrary
whatsoeuer
.
14.
May
1583.
Thus
subscribed
,
-
C.
Wray
.
-
G.
Gerrard
.
-
Roger
Manwood
.
This
is
a
true
copie
of
the
originall
.
Ex.
per
A.
Maynard
.
Vpon
these
,
together
with
many
other
weighty
reasons
concerning
the
conueniences
and
profit
of
this
State
,
then
tendered
to
their
graue
considerations
,
the
said
house
of
Commons
did
passe
a
Bill
for
them
,
intituled
.
An
Act
restoring
the
Free
Trade
of
the
Merchants
of
the
Staple
,
for
the
exportation
of
Cloth
,
and
all
other
Manufactures
made
of
Wooll
in
the
parts
beyond
the
Seas
;
as
by
the
said
Bill
appeareth
:
so
that
whereas
out
of
false
premises
Misselden
makes
this
conclusion
,
whereby
it
is
manifest
saith
he
,
that
the
Cloth
and
other
the
Manufactures
of
this
kingdome
,
haue
with
the
fauour
of
the
State
,
beene
conferred
vpon
the
Merchants
Aduenturers
:
not
onely
by
their
last
Letters
Patents
,
but
by
many
other
former
grants
before
recited
.
I
answer
,
That
by
this
reply
it
is
most
apparant
,
that
the
Merchants
Aduenturers
from
their
first
Grant
,
made
in
the
eight
of
King
Henry
the
4
,
vnto
the
last
Grant
made
vnto
them
in
the
fifteenth
yeare
of
his
Maiestie
:
they
neuer
had
any
propriety
or
trust
of
Trade
committed
to
them
,
but
with
exceptions
and
limitations
as
is
before
expressed
.
And
it
is
also
most
manifest
that
the
Merchants
of
the
Staple
might
,
and
did
from
time
to
time
Ship
Cloth
in
their
owne
right
into
Holland
,
&c
:
as
Staplers
,
and
not
as
Merchants
Aduenturers
:
wherefore
the
power
which
the
Merchants
Aduenturers
now
assume
vnto
themselues
,
to
restraine
the
Merchants
of
the
Staple
from
Trading
with
Cloth
,
as
formerly
they
haue
done
,
and
the
practise
which
they
vse
,
to
keepe
out
other
Merchants
being
Subiects
of
his
Maiestie
from
being
free
of
their
Company
,
is
meerely
by
collour
,
and
not
by
virtue
of
any
of
their
Grants
or
Letters
Patents
whatsoeuer
:
and
hereby
Misselden
may
vnderstand
what
the
difference
is
:
Authority
and
the
Princes
Letters
Patents
,
and
find
cause
not
to
maruell
,
but
to
wonder
at
his
exception
.
And
whereas
he
hath
put
another
glosse
,
Thus
farre
haue
I
followed
him
in
his
chace
after
the
Merchants
of
the
Staple
.
And
now
I
finde
him
persuing
another
of
his
supposed
aduersaries
viz.
the
Merchant
Stranger
,
But
now
come
to
the
(
Perhaps
)
the
Merchants
Strangers
may
now
ship
dressed
Clothes
,
Karsies
,
and
all
other
new
Draperies
,
paying
Strangers
Custome
:
and
(
Perhaps
)
better
cheape
saith
he
;
How
may
this
better
cheape
be
?
I
answer
,
perhaps
he
may
compound
with
some
Merchant
Aduenturer
for
the
vse
of
his
name
,
viz.
to
enter
the
Strangers
goodes
in
the
Merchant
his
name
,
paying
a
certaine
rate
vpon
euery
parcell
of
goods
,
as
vpon
euery
Karsey
,
Bay
,
Say
,
Parpetuana
,
and
likewise
vpon
euery
dozen
of
Stockings
,
which
composition
being
paid
,
the
Stranger
shall
ship
his
goods
for
English
Custome
.
And
for
proofe
that
this
is
so
,
I
referre
my selfe
to
the
Blanck
Bills
lately
shewed
forth
in
Parliament
by
certaine
Merchants
of
London
,
with
the
Seale
of
the
Merchants
Aduenturers
fixed
,
and
their
Deputie
his
name
also
subscribed
:
into
which
Bills
being
left
blanck
for
the
purpose
,
the
goods
of
any
other
English
Merchant
not
free
of
their
Company
might
be
entred
without
enquiry
whether
he
were
Probatae
fidei
,
or
an
Interlooper
,
a
Nouice
,
or
a
new
Merchant
,
that
for
want
of
experience
might
betray
the
Trade
into
the
hands
of
Strangers
;
and
if
any
Strangers
goods
of
any
value
whatsoeuer
might
haue
beene
entred
in
the
said
blanck
Bills
,
and
so
shipped
forth
vpon
English
Custome
,
I
leaue
to
Misseldens
examination
,
being
not
desirous
to
informe
.
The
third
sort
of
those
that
he
would
chase
out
of
trade
,
he
calleth
Interlopers
.
That
other
English
Merchants
that
should
trade
into
their
territories
,
might
be
compelled
to
obserue
the
Merchants
Aduenturers
orders
;
whereby
it
appeares
plainly
,
that
though
the
Merchants
Aduenturers
haue
procured
a
free
licence
of
exporting
certaine
thousands
of
white
clothes
to
themselues
(
non
obstante
)
the
Statutes
,
yet
the
State
neuer
intended
that
they
should
also
ingrosse
the
whole
trade
of
all
coloured
clothes
,
kersies
,
bayes
,
and
other
new
Draperies
into
their
hands
,
to
the
vtter
ruine
and
wearing
out
of
all
other
Merchants
that
traded
therein
as
now
the
Merchants
Aduenturers
would
haue
it
.
For
they
now
challenge
an
absolute
power
and
proprietie
of
trade
into
those
parts
,
with
all
the
foresaid
English
manufactures
,
and
seek
to
exclude
all
other
English
Merchants
from
that
trade
,
vnder
this
terme
of
Interlopers
:
and
haue
of
late
(
as
aforesaid
)
brought
so
many
vexations
vpon
them
,
that
most
of
them
are
now
constrained
either
to
steale
trade
by
secret
means
,
to
the
preiudice
of
themselues
and
the
trade
of
the
kingdome
,
or
else
they
must
learne
to
trade
by
Misseldens
perhaps
.
The
last
sort
of
those
that
trouble
him
,
are
the
Ports
,
the
Merchants
Aduenturers
are
made
the
Burden
;
here
he
hath
found
a
fit
Epithete
for
his
Masters
.
If
he
had
been
willing
to
set
downe
all
the
Singers
,
he
might
haue
found
a
very
large
Quier
;
for
at
that
time
not
onely
those
that
he
pickt
out
,
as
the
Merchants
strangers
,
the
Merchants
of
the
Staple
,
the
Interlopers
,
and
the
Ports
,
but
the
Clothiers
of
all
sorts
from
all
parts
of
this
Realme
,
and
Wooll-growers
Burden
,
the
Merchants
Aduenturers
,
as
at
large
appeareth
by
their
seuerall
petitions
,
reasons
,
repetitions
,
and
continuall
suites
for
reliefe
and
remedy
in
that
behalfe
;
whereupon
the
Act
for
restoring
the
free
trade
of
the
Staple
was
drawne
for
their
reliefe
,
and
passed
the
house
of
Commons
,
as
is
before
related
.
Thus
haue
I
followed
him
to
the
end
of
this
chace
;
and
now
I
refer
it
to
the
iudgement
of
the
Reader
;
whether
the
Merchants
Aduenturers
haue
not
ingrossed
(
and
that
by
colour
of
their
last
Letters
pattents
)
the
trade
of
the
Merchants
strangers
,
the
Merchants
of
the
Staple
,
the
Merchants
of
the
Ports
,
and
of
many
other
English
Merchants
,
concerning
the
exportation
of
cloth
and
all
other
manufactures
made
of
Wooll
into
Holland
,
Zeland
,
Brabant
,
and
other
parts
of
the
Low
Countries
and
Germany
;
and
last
of
all
I
refer
the
remedy
(
as
I
am
most
bound
in
dutie
)
to
the
matchlesse
wisedome
of
his
most
excellent
Maiestie
.
And
now
hee
leades
mee
to
the
place
where
hee
seemes
to
be
angry
for
my
saying
,
if
they
had
ingaged
their
trade
for
a
summe
of
money
,
which
I
supposed
was
for
the
vse
of
their
Companie
;
hee
confesseth
the
action
,
but
trauerseth
the
occasion
,
saying
,
it
was
borrowed
for
the
seruice
of
the
State
,
by
which
one
word
he
hath
barred
my
reply
;
but
onely
this
I
obserue
,
that
his
Masters
whom
he
saith
are
probatae
fidei
,
and
trusted
with
that
(
axis
)
of
the
Common-wealth
,
he
freely
confesseth
they
haue
laid
this
axis
to
pawne
,
and
presseth
hard
for
help
to
redeem
the
same
.
And
I
cannot
but
wonder
when
I
compare
that
small
summe
with
the
great
losse
,
which
others
say
they
haue
borne
by
their
appropriating
trade
these
six
yeares
to
themselues
,
and
with
the
great
summes
they
haue
raised
by
impositions
vpon
cloth
and
vpon
other
natiue
commodities
of
that
kind
,
I
cannot
but
wonder
I
say
,
that
they
haue
not
long
fithens
fetched
their
axis
home
.
Thus
endeth
Misseldens
song
,
with
my
Contrator
,
concerning
the
cloth
trade
,
wherein
we
find
a
center
for
the
publik
good
in
generall
.
Come
we
now
to
the
examination
of
the
trade
from
England
to
the
East
Indies
,
Center
of
Commerce
,
namely
Gaine
,
where
Misselden
(
according
to
his
ordinary
custome
)
thus
chanteth
against
me
;
and
we
shall
find
that
the
said
Trade
is
vnprofitable
for
England
.
This
Companie
also
,
that
deserueth
so
much
pitie
,
cannot
escape
Malynes
enuie
:
for
here
he
endeuoreth
closely
and
cunningly
to
insinuate
,
that
the
cause
of
the
want
of
money
,
is
the
ready
money
sent
to
the
East
Indies
in
Reals
of
plate
.
Againe
,
COncerning
the
first
part
,
That
I
do
insinuate
,
that
the
cause
of
the
want
of
mony
is
the
ready
mony
sent
to
the
East
Indies
;
I
am
so
far
from
that
,
that
although
there
were
one
hundred
thousand
pounds
sent
yearly
where
there
is
onely
appointed
thirtie
thousand
,
I
would
find
no
fault
with
it
,
if
Trade
were
so
caried
,
that
moneys
were
imported
;
and
that
the
returne
of
the
East
India
commodities
retransported
,
did
procure
moneys
from
other
places
;
and
more
especially
if
there
were
a
center
or
gaine
answerable
to
the
aduenture
;
which
caused
me
to
say
,
If
the
discourse
of
the
trade
from
England
into
the
East
Indies
be
truly
collected
,
no
doubt
the
said
Trade
may
be
found
very
profitable
hereafter
,
albeit
it
hath
bin
very
difficult
in
the
beginning
.
But
forasmuch
as
Misseldens
words
and
constructions
haue
moued
me
to
examine
the
said
discourse
farther
,
and
for
that
my
opinion
hath
always
been
,
That
our
excessiue
charges
would
consume
all
;
I
haue
thought
conuenient
to
examine
the
said
Discourse
,
as
it
is
laid
downe
.
According
to
which
,
to
frame
our
Arguments
abeffectis
,
let
vs
lay
our
foundation
vpon
Mr.
Mun's
Abstract
of
the
accounts
,
collected
out
of
the
diuers
volumes
of
the
East
India
bookes
,
of
all
the
moneys
and
commodities
sent
thither
from
the
beginning
of
the
said
Trade
vntill
Iuly
1620
,
being
the
space
of
20
yeares
or
thereabouts
,
as
appeareth
pag.
39.
which
was
done
to
satisfie
the
Parliament
concerning
the
imputation
of
the
moneys
exported
by
them
.
All
the
ready
money
sent
out
of
the
Realme
,
and
from
all
other
places
whatsoeuer
beyond
the
Seas
,
he
saith
to
be
548090
l
starlin
;
and
all
the
commodities
both
English
and
forreine
wares
which
haue
been
sent
thither
during
that
time
,
amounteth
in
all
but
292286.
So
the
stocke
of
moneys
and
commodities
sent
in
all
is
840376
l
.
Brought
home
in
diuers
sorts
of
wares
within
that
time
356288
l.
The
losse
sustained
by
the
Hollanders
,
and
charges
estimed
at
84088
l.
So
there
remaineth
for
both
the
ioynt
stocks
in
the
East
Indies
400
thousand
pounds
,
which
doth
ballance
this
account
,
whereof
diuers
returnes
are
made
.
The
nature
of
the
commodities
is
to
be
considered
by
way
of
Commutation
called
Negotiatiua
,
Rule
of
Polliticions
requireth
,
that
the
commodities
exported
should
be
sold
proportionably
to
the
commodities
imported
,
with
a
consideration
of
customs
,
charges
,
aduenture
,
shipping
,
and
regard
of
time
,
persons
and
place
,
with
the
circumstances
,
&c.
The
commodities
imported
being
356288
l.
as
aboue
said
,
were
sold
(
although
the
most
part
was
transported
for
other
places
)
for
1914
thousand
and
sixe
hundreth
pounds
:
according
to
which
proportion
,
the
commodities
exported
should
produce
1558
thousand
858
l
:
that
is
to
say
,
fiue
and
one
third
part
for
one
:
whereas
our
commodities
haue
produced
by
this
account
but
22
pro
cento
in
liew
thereof
,
which
is
not
one
forth
part
of
one
,
for
they
did
cost
292286
l.
as
aforesaid
,
and
there
is
in
returne
but
employed
356288
l
,
which
is
but
64002
l.
more
:
so
that
the
principall
is
but
come
home
,
and
the
said
64
thousand
pounds
,
which
is
but
22
pro
100
in
three
yeares
time
,
with
great
aduenture
,
to
the
Kingdomes
losse
in
stock
,
shipping
,
Mariners
,
and
all
things
besides
,
to
be
gotten
and
saued
otherwise
.
This
disproportion
is
farre
greater
,
if
we
consider
that
the
said
goods
were
carried
thither
by
our
shipping
,
and
we
pay
them
greater
Customes
for
their
Commodities
,
then
they
pay
without
aduenture
of
the
Seas
,
and
the
circumstances
aforesaid
.
The
first
Assertion
then
is
.
That
by
our
natiue
Commodities
to
be
sent
into
the
East
Indies
,
COnsider
we
of
the
commodities
returned
and
sold
for
1914
Thousand
600
pounds
,
producing
fiue
and
one
third
part
for
one
towards
custom
charges
,
and
all
other
thiings
as
aforesaid
:
and
we
shall
be
rauished
with
admiration
vpon
examination
of
the
prices
in
particular
,
by
the
said
Author
declared
.
This
calculation
is
to
be
made
betweene
the
commodities
bought
in
the
East
Indies
,
withall
charges
,
and
the
sale
of
them
in
England
without
charges
.
Pepper
at
2
d
½
the
pound
,
sold
for
20
d
,
is
8
for
1.
Cloues
at
9
d
,
sold
for
5
s
,
is
6
and
two
thirds
for
1.
Nutmegs
at
4
d.
the
l
,
sold
at
3
s
,
is
full
9
for
1.
Mace
at
8
d.
the
pound
,
sold
for
6
s
,
is
full
9
for
1.
Indico
at
14
d.
the
l
,
sold
for
5
s
,
is
but
4⅓
.
for
1.
Raw-Silkes
at
8
s.
the
l
,
sold
for
20
s
,
is
but
2
½
for
1.
Wherein
the
quantity
of
each
kind
of
commodities
is
much
to
be
respected
,
to
make
a
true
calculation
.
Hereupon
any
man
of
meane
iudgement
may
easely
perceiue
,
that
the
inferrence
to
make
the
East
India
Trade
more
profitable
,
by
the
employments
to
be
increased
of
Indico
and
Silkes
by
the
Persian
The
second
Assertion
therefore
is
,
BVt
some
affectioned
East
India
Merchant
will
say
,
that
the
generall
account
aforesaid
to
make
fiue
and
one
third
part
for
one
,
is
a
great
matter
of
benefit
towards
custome
,
charges
,
and
all
other
things
incident
to
trade
.
For
the
Author
doth
say
,
that
10
s.
This
Merchant
cannot
inforce
his
argument
for
want
of
a
true
iudgement
;
for
he
might
haue
made
a
better
conclusion
,
to
say
Pepper
doth
cost
but
2
d
½
the
pound
,
and
is
sold
for
20
d.
which
is
8
for
one
,
as
aforesaid
.
And
if
with
all
charges
in
London
it
cometh
but
to
3
½
,
then
the
benefit
of
4
½
for
one
is
an
admirable
gaine
to
inrich
himselfe
and
the
common
wealth
.
This
iudgement
vpon
a
particular
,
seemeth
to
proue
a
far
greater
gaine
then
the
abouesaid
generall
gaine
of
5
⅓
for
one
.
But
to
find
out
the
truth
,
there
must
be
a
nearer
calculation
made
,
by
a
true
distinction
of
the
managing
of
the
Stock
remaining
at
home
,
which
was
neuer
adventured
,
and
the
aforesaid
stock
of
moneys
and
commodities
sent
into
the
Indies
,
and
what
both
these
did
amount
vnto
.
Next
,
if
the
goods
taken
from
the
Indians
and
Portugals
be
comprehended
in
the
said
returne
,
whereof
the
said
sum
of
1914
thousand
600
l
was
made
,
then
the
case
is
altered
,
and
wil
not
produce
the
one
halfe
.
Lastly
,
the
building
and
repairing
of
Ships
,
Wharfes
,
houses
,
magazins
,
and
the
like
emploiment
of
the
stocke
at
home
,
together
with
the
allowances
of
Officers
,
Mariners
,
and
seruants
wages
,
will
come
to
an
incredible
summe
.
But
let
vs
come
to
the
generall
consideration
of
this
Trade
,
respecting
the
weale
publicke
,
by
comparing
the
same
to
the
former
trade
maintained
by
the
Portugals
along
the
Cape
of
Good
Hope
;
which
is
more
proper
then
to
compare
the
same
to
the
trade
betweene
vs
and
Turkie
and
the
said
East
Indies
:
for
the
trade
of
Portugall
made
the
Merchants
trading
Turkie
,
to
sell
the
Spices
brought
from
Aleppo
to
losse
,
because
the
Camels
back
could
not
passe
the
needles
eye
,
without
great
charges
&
difficulty
:
neuerthelesse
that
trade
was
very
profitable
to
the
kingdome
,
I
may
affirme
by
experience
,
that
before
the
open
warres
with
Spaine
,
the
trade
of
Portugall
and
the
Ilands
was
very
profitable
to
the
Realme
:
Let
vs
now
examine
the
price
of
Spices
in
those
dayes
within
the
Realme
,
and
we
shall
finde
that
Pepper
was
sold
for
2
s
the
pound
,
Cloues
6
s
,
Mace
7
s
,
Nutmegs
3
s
,
and
Indico
6
s
;
which
small
differenc
in
price
,
for
so
much
as
is
yearely
spent
in
England
,
This
true
account
wil
be
proued
by
ancient
Merchants
bookes
,
and
the
weekly
price
currant
of
the
Brokers
bils
,
before
the
open
warres
with
Spaine
.
But
the
said
Author
doth
set
downe
the
prices
as
they
were
in
the
time
of
warres
,
when
Merchants
charges
,
The
third
Assertion
is
,
FRom
the
particular
account
of
Spices
and
Indico
concerning
England
,
come
we
to
the
generall
account
laid
downe
by
him
for
all
Christendome
,
Deduct
the
said
400
thousand
pounds
for
silke
from
the
generall
emploiment
of
511458
l.
5.
8.
that
the
total
summe
amounteth
vnto
,
and
there
remains
but
111458
l.
5.
8.
for
Spices
and
Indico
.
Calculate
now
what
the
said
proportion
for
England
did
cost
in
the
Indies
according
to
the
said
prices
,
and
you
shall
find
it
to
be
16749
l.
15.
0.
which
is
almost
the
sixt
part
of
all
the
Spices
and
Indico
spent
in
Christendome
:
and
this
being
sold
in
England
,
produceth
108333
l.
6.
8.
Now
deduct
of
the
abouesaid
953543
l
,
the
gaines
of
the
silke
being
200
thousand
pounds
,
there
remaineth
753543
l
,
whereof
the
sixt
part
saued
for
England
,
cometh
neare
to
108
thousand
pounds
,
which
is
as
much
as
all
the
Spices
and
Indico
sold
in
one
yeare
in
England
cometh
to
,
as
aforesaid
.
Whereby
it
appeareth
,
that
England
sauing
yearely
that
summe
,
there
is
(
as
it
were
)
nothing
spent
in
Spices
and
Indico
,
which
he
may
very
well
call
to
be
incredible
.
So
that
Our
fourth
Assertion
is
,
NOw
if
vpon
the
matter
we
do
consider
the
Customes
and
Impost
,
the
Factors
,
Officers
and
Mariners
wages
,
without
interest
of
moneys
and
assurances
,
all
will
proue
but
transmutations
without
increase
,
but
with
the
great
decrease
of
the
Kingdomes
stocke
.
But
to
proue
that
the
said
accounts
are
made
at
random
,
The
consideration
hereof
caused
some
Merchants
of
that
Companie
to
be
as
craftie
as
Aesops
Fox
,
who
being
desirous
to
drinke
,
found
a
Well
with
two
buckets
,
and
entring
into
one
of
the
buckets
,
descended
suddenly
into
the
water
;
but
hauing
satiated
his
thirst
,
could
not
get
out
,
vntill
one
of
the
Goates
of
this
Tropick
of
Capricorne
came
to
the
said
Well
,
The
conclusion
which
the
said
Author
maketh
,
is
,
That
the
East
India
trade
alone
(
although
it
be
driuen
in
no
ampler
maner
then
is
afore
written
)
is
a
meanes
to
bring
in
more
treasure
into
this
Realme
then
all
the
other
Trades
of
this
Kingdome
(
as
they
are
now
managed
)
being
put
together
.
For
if
the
rule
be
true
,
That
when
the
values
of
our
commodities
exported
doth
ouerballance
the
worth
of
all
those
forrein
wares
which
are
imported
and
consumed
in
this
kingdome
,
then
the
remainder
of
our
stocke
which
is
sent
forth
,
must
of
necessitie
returne
to
vs
in
treasure
,
we
must
imagine
it
will
do
so
with
vs
in
time
.
Here
you
may
see
from
whence
Misselden
drew
his
Ballance
of
Trade
,
which
he
neuer
dutst
vndertake
to
maintain
before
the
aforesaid
his
Maiesties
Commissioners
,
who
haue
often
called
him
by
Warrants
and
otherwise
;
for
he
was
not
able
to
maintaine
an
other
mans
Proiect.
We
haue
already
shewed
the
incertaintie
of
the
said
Ballance
,
and
in
the
Remedies
wee
shall
intreate
thereof
further
;
neuerthelesse
I
cannot
omit
Obiter
,
to
say
that
this
Rule
may
serue
for
a
Demonstration
:
but
it
can
neuer
be
found
true
vntill
it
concurre
with
the
Center
(
Gaine
:
)
for
so
long
as
treasure
cannot
be
imported
without
losse
,
we
shall
still
receiue
wares
in
returne
,
and
augment
the
cause
of
ouer-ballancing
.
And
which
is
more
,
suppose
there
were
an
ouer-ballancing
of
Trade
〈◊〉
our
side
,
whereby
moneys
should
be
forced
vpon
vs
,
yet
should
we
find
it
would
be
to
the
incredible
losse
of
the
Commonwealth
,
by
the
inhauncing
of
the
forreine
coine
beyond
the
Seas
;
and
the
vndervaluation
of
our
moneys
in
exchange
,
which
may
be
demonstrated
by
a
trifle
,
as
well
as
by
hundreds
and
thousands
.
One
buyeth
a
paire
of
Gloues
for
5
s
starlin
,
To
conclude
then
with
the
East
India
Trade
,
wherein
we
find
no
Center
;
let
vs
haue
a
care
that
the
moneys
proceeding
of
Spices
and
Silks
,
may
be
partly
imported
into
the
Realme
to
increase
treasure
.
The
Trade
for
Russia
was
in
times
past
very
profitable
for
the
venting
of
our
coloured
clothes
,
and
returning
from
thence
very
vsefull
commodities
,
as
Tallow
,
Wax
,
Hides
,
Furres
and
other
wares
,
which
for
the
most
part
being
caried
out
againe
for
France
&
other
places
,
made
prouision
for
wines
,
canvas
,
&c.
For
heretofore
the
commodities
of
the
Realme
&
other
were
vented
in
France
in
great
quantities
,
The
Trade
for
Eastland
and
those
parts
,
The
Barbary
Trade
bringeth
vs
some
Gold
;
Russia
,
Eastland
and
Barbary
,
with
our
natiue
commodities
,
better
then
we
do
.
Misselden
(
passing
ouer
all
these
serious
considerations
,
replieth
,
that
Malynes
hauing
runne
himselfe
out
of
breath
,
and
ouerrunne
Monopolium
with
telling
tales
)
sheweth
to
be
one
of
this
Climate
of
Capricorne
:
for
men
of
his
humour
are
called
by
the
Italian
〈◊〉
I
shall
therefore
conclude
this
enco●nter
,
and
remember
,
a
Tympanie
of
Pride
,
Psittacorum
Regio
,
to
haue
his
braines
purged
with
Helibon
,
and
to
reade
there
Historia
Ventorum
.
CHAP.
V.
The
meanes
to
ballance
the
Trade
of
England
by
the
said
center
;
or
the
remedies
against
the
causes
of
the
decay
thereof
.
FRom
the
Tropicke
of
Capricorne
wee
are
come
to
the
Antarticke
Circle
in
the
South
,
to
make
a
perfect
Orbe
,
to
keepe
Misselden
and
his
Ballance
enclosed
within
his
owne
Circle
.
For
in
this
Region
,
the
transparent
and
splendent
beames
of
the
Sunne
of
truth
,
do
dispell
all
foggie
mysteries
of
deceitfull
fallacies
,
insomuch
that
men
of
meane
capacitie
and
vnderstanding
may
very
well
demand
a
reason
,
wherefore
we
do
not
preuent
(
by
contraries
)
the
knowne
Spring
of
this
disease
,
whereby
the
body
of
the
Commonwealth
is
so
much
distempered
.
For
Res
ipsaloquitur
,
that
Gaine
the
Center
of
commerce
is
excluded
by
error
of
Trade
,
because
no
money
or
bullion
can
be
imported
but
to
losse
,
neither
can
any
money
be
kept
within
the
Realme
by
reason
of
the
great
gaine
had
vpon
moneys
by
exportation
:
so
that
(
Returnes
being
made
continually
of
our
natiue
Commodities
by
forrein
Commodities
)
nothing
can
be
expected
but
an
increase
of
the
ouerballancing
of
our
Trade
in
nature
before
alledged
.
But
some
Supporter
of
the
conceited
Ballance
of
Trade
will
say
,
that
Time
by
the
increase
of
Trade
will
turne
the
Tide
,
and
bring
all
things
in
tune
againe
,
by
a
necessitie
of
nature
beyond
all
resistance
,
when
the
sale
of
our
natiue
commodities
in
forreine
parts
shall
surmount
the
value
of
the
commodities
imported
vnto
vs
.
Is
not
this
in
substance
the
hunting
of
our
owne
shadow
?
suffering
other
nations
to
vse
all
meanes
for
their
benefit
,
and
wee
shall
amend
all
things
when
we
come
to
Rome
,
and
we
neuer
dispose
our selues
to
vndertake
the
voyage
to
go
thither
:
neither
are
the
causes
with
vs
alike
with
forreine
nations
,
whereby
wee
might
expect
the
like
effects
.
For
,
We
do
not
inhaunce
our
moneys
as
they
doe
all
forreine
coine
and
their
owne
;
neither
do
we
ouer-value
our
moneys
by
exchange
vnto
them
,
as
the
Low
Countries
and
East-land
do
vnto
vs
,
breeding
exportation
,
and
hindrance
of
importation
of
moneys
,
as
hath
been
amply
declared
.
Wee
do
not
sell
our
natiue
Commodities
according
to
moneys
inhaunced
,
as
they
do
theirs
,
but
at
an
vnder
value
,
according
as
our
moneys
are
calculated
in
exchange
,
to
our
losse
and
their
benefit
.
We
do
not
deliuer
money
at
interest
beyond
the
Seas
,
as
the
Merchant
stranger
doth
here
at
10
pro
cento
,
which
is
there
at
5
and
6
vpon
the
hundred
to
be
had
;
neither
do
they
pay
15
and
20
vpon
the
hundred
by
exchange
,
as
we
do
.
We
do
not
procure
by
Gaine
or
Pollic●e
the
importation
of
Bullion
or
Royals
of
8
as
they
doe
,
by
inhauncing
all
moneys
,
and
diuerting
the
said
Royalls
and
dollers
from
vs
,
to
be
brought
in
as
in
times
past
.
We
doe
not
procure
plenty
of
money
to
make
a
liuely
Trade
,
as
they
doe
by
the
two
Reall
meanes
of
impo●tation
,
and
tolleration
of
exportation
:
as
also
by
the
two
Politike
meanes
of
Transfering
〈◊〉
of
debts
betweene
man
and
man
,
and
the
payment
by
assignations
.
Wee
doe
not
preuent
that
the
Trade
of
Bayes
,
Sayes
,
and
new
Draperies
should
not
be
carried
from
vs
by
diuerting
the
Royall
or
8
from
vs
,
nor
that
other
nations
should
driue
a
Trade
with
our
Cloth
and
other
commodities
for
Barbary
,
Russia
,
Eastland
,
and
other
Countries
;
for
being
depriued
of
our
owne
moneys
,
and
of
the
said
Royalls
,
we
doe
loose
the
Trade
also
.
We
cannot
make
returne
for
our
natiue
commodities
by
the
three
ordinary
meanes
,
Others
are
of
opinion
,
that
some
moderation
might
be
procured
herein
,
by
making
the
Spanish
Royalls
of
8
currant
within
the
Realme
at
4
s.
7
d
,
or
8
d
:
that
is
to
say
,
aboue
the
value
.
But
they
doe
not
consider
effectually
of
the
inconueniences
which
will
ensue
,
as
follweth
.
First
,
It
will
be
the
vtter
ouerthrow
of
his
Maiesties
Mint
,
and
vndoing
of
the
poore
Moneyers
,
aswell
for
the
coynes
of
gold
as
of
siluer
;
for
gold
will
not
be
brought
so
frequently
when
siluer
is
aduanced
by
altering
the
proportion
,
and
reducing
the
same
to
12
to
one
,
or
thereabouts
.
Secondly
,
The
forreine
coyne
will
be
aduanced
by
these
meanes
7
vpon
the
hundreth
aboue
our
Starlin
moneys
,
and
thereby
increase
the
exportation
of
the
said
Royalls
.
Thirdly
,
The
King
will
loose
his
coynage
money
,
being
aboue
2
d.
vpon
an
ounce
:
and
the
melting
downe
of
his
moneys
and
effacing
of
his
stampe
,
is
a
great
derogation
of
his
Prerogation
Royall
,
it
being
a
marke
of
Soueraignty
.
Fourthly
,
The
inhauncing
of
the
said
Royalls
will
alter
the
price
of
Plare
,
as
also
of
other
commodities
within
the
Realme
:
which
is
a
matter
much
respected
hitherto
.
Fiftly
,
When
moneys
are
inhaunced
beyond
the
Seas
,
the
price
of
exchange
doth
also
inhaunce
in
some
measure
:
but
when
moneys
are
inhaunced
here
,
the
exchange
abateth
,
which
causeth
the
exportation
of
our
money
to
increase
.
As
for
example
,
Arch-Dutchesse
of
Austria
.
To
come
therefore
to
the
true
remedy
,
wee
are
to
consider
the
true
causes
of
their
operations
,
to
which
end
we
haue
declared
in
the
Equin
octiall
,
the
losse
which
the
Realme
sustaineth
by
a
low
exchange
or
the
vndervaluation
of
our
moneys
:
as
also
the
benefits
which
will
arise
by
the
high
exchange
,
as
meerely
opposite
vnto
it
;
so
that
we
may
conclude
certainly
,
This
is
to
be
done
onely
by
his
Maiesties
Proclamation
,
in
weight
and
finesse
:
but
at
the
said
rate
,
or
aboue
the
same
as
Merchants
can
agree
,
but
neuer
vnder
the
same
:
which
shall
be
declared
by
a
paire
of
Tables
vpon
the
Royall
Exchange
in
London
,
with
such
cautions
and
obseruation
as
formerly
haue
beene
noted
,
whereunto
I
must
referre
my selfe
to
be
seene
at
large
in
Lex
Mercatoria
.
For
the
better
vnderstanding
hereof
,
and
to
shew
that
the
like
hath
beene
formerly
done
:
but
therein
onely
direction
was
wanting
hitherto
:
I
haue
thought
conuenient
to
put
downe
the
same
verbati●
,
as
followeth
.
A
Proclamation
for
the
ordering
of
the
exchange
of
money
vsed
by
Merchants
,
FOrasmuch
as
there
are
so
great
abuses
of
〈◊〉
yeares
growne
by
the
corrupt
dealing
of
sundry
Merchants
and
Brokers
,
as
well
Strangers
〈◊〉
,
vpon
bargaine
of
exchanges
and
rechange
of
moneys
,
to
be
paid
both
out
&
within
this
Realme
,
as
not
onely
the
good
laudable
and
profitable
vse
of
naturall
Merchandising
is
greatly
decayed
,
the
true
values
of
the
moneys
of
this
Realme
much
●based
,
and
her
Maiesties
Customes
and
subsedies
(
that
are
the
ancient
inheritance
of
this
Crowne
▪
diminished
and
withdrawne
,
with
sundry
of
〈◊〉
inconueniences
,
to
the
notable
damage
of
〈◊〉
Realme
;
for
the
due
remedy
whereof
,
there
〈◊〉
beene
made
heretofore
sundry
good
Lawes
and
Statutes
of
this
Realme
,
which
doe
still
continue●●
their
force
.
The
Queenes
Maiestie
intending
〈◊〉
haue
such
great
enormities
and
mischiefes
〈◊〉
,
doth
giue
all
maner
of
Merchants
,
Broken
,
&
all
other
persons
vsing
to
bargaine
by
exchange
and
rechange
,
to
vnderstand
that
her
meaning
〈◊〉
haue
such
Lawes
and
Statutes
put
in
executi●●●
haue
beene
prouided
,
and
doe
remaine
in
force
for
this
purpose
:
and
therefore
warneth
all
maner
of
persons
to
haue
hereafter
due
regard
thereunto
,
〈◊〉
on
such
penalties
as
in
the
said
.
Lawes
,
Statures
,
〈◊〉
other
ordinances
remaning
in
their
force
is
p●●uided
.
And
for
the
lawfull
satisfaction
of
all
such
as
shal
haue
necessary
cause
to
take
or
deliuer
any
money
by
exchange
,
there
shall
be
certaine
orders
in
〈◊〉
set
vp
in
places
conuenient
declaring
the
rates
thereof
,
as
the
same
shall
or
ought
to
be
paid
to
the
vse
of
her
Maiestie
,
or
to
her
Ministers
and
Officers
thereunto
authorized
.
Giuen
at
Green-wich
the
20
of
September
1576
,
in
the
eighteenth
yeare
of
the
prosperous
Raigne
of
the
Queenes
Maiestie
.
The
Noble
and
renowned
the
Baron
of
Elsmere
,
Lord
Chancellour
of
England
deceased
,
(
vnto
whom
I
owe
perpetuall
obligation
)
did
at
fouerall
times
aduise
at
the
Councell
:
Table
to
publish
the
like
Proclamation
with
some
other
good
obseruations
,
seeing
therein
is
nothing
required
but
equity
and
iustice
,
agreable
to
the
Lawes
of
Nations
;
But
the
euill
man
sowing
Thres
in
the
night
,
made
the
weedes
to
grow
so
fast
that
the
good
seed
could
not
prosper
:
so
that
inueterated
diseases
breaking
forth
at
last
,
makes
vs
to
feele
the
smart
thereof
.
For
some
men
(
vpon
priuate
respects
)
will
cast
doubts
beyond
the
Moone
.
Know
you
not
that
the
s●ept
the
Doctrine
of
Pyrrh●
,
Ariston
,
and
Heri●●●●
,
hath
beene
long
agoe
hist
out
of
the
Schooles
,
or
rather
banisht
and
confined
amongst
the
Barbarians
?
will
you
cause
vs
to
doubt
of
all
things
:
then
shall
wee
doubt
whether
you
doubt
or
no
:
it
is
possible
you
can
carry
bread
in
the
〈◊〉
hand
,
and
a
stone
in
the
other
:
neuertheles
to
〈◊〉
vnto
these
men
some
satisfaction
,
which
make
〈◊〉
whether
the
said
his
Maiesties
Proclamation
〈◊〉
obeyed
here
&
beyond
the
Seas
;
I
am
to
proue
that
the
Center
of
Commerce
will
effect
the
same
:
for
gaine
will
command
effectually
,
Por
el
Dinero
,
bay
la
〈◊〉
Perro
,
said
the
Spaniard
,
A
Dog
will
d●unce
for
money
.
The
Merchant
Stranger
being
here
commonly
the
deliuerer
of
money
(
casting
his
eyes
vpon
the
Center
)
will
easely
be
induced
to
make
the
most
of
his
owne
,
receiuing
by
exchange
more
for
his
money
beyond
the
Seas
:
and
if
the
English
Merchant
(
being
the
taker
of
the
said
money
)
would
be
so
iniurious
to
the
State
,
as
to
giue
lesse
beyond
the
Seas
then
the
value
of
the
money
of
the
Realme
by
exchange
contrary
to
the
said
Procla●mation
,
the
deliuerer
of
the
money
will
not
let
him
haue
it
:
besides
that
the
takers
occasions
are
(
in
a
maner
)
enforced
by
necessity
,
and
he
can
be
no
loser
,
for
by
this
direction
he
shall
sell
his
commodities
ac●●dingly
.
English
Merchants
being
the
deliuerers
of
mony
beyond
the
Seas
,
and
the
price
of
exchange
altering
there
accordingly
,
will
haue
the
like
consideration
,
and
the
Merchant
Stranger
will
prouoke
him
thereunto
by
the
Center
(
gaine
)
whereupon
their
eyes
are
fixed
:
and
if
there
be
no
takers
of
Merchants
Strangers
,
the
English
Merchants
may
bring
〈◊〉
the
money
inspecie
,
wherein
he
shall
become
gainer
when
the
exchange
is
rectified
,
where
now
he
is
a
loser
,
which
causeth
him
to
import
no
moneys
:
although
as
Misselden
saith
,
There
gates
stand
wide
open
,
Now
forasmuch
as
we
haue
already
answered
the
obiections
to
be
made
against
this
remedy
in
the
Equinoctiall
.
Let
vs
now
examine
the
rem●dies
propounded
by
Misseldens
conceited
Ballance
,
and
whether
the
calculation
of
the
same
be
more
then
a
triall
,
as
we
haue
declared
.
The
remedy
,
importation
lesse
,
and
our
exp●ctation
more
,
by
the
importation
of
superfluous
things
●o
be
restrained
,
and
the
exportation
by
Manufactures
to
be
improued
:
but
what
can
the
casting
of
a
Ballance
effect
herein
?
Iust
nothing
.
There
is
a
practise
required
to
set
the
people
more
on
worke
vpon
the
materialls
of
our
owne
growth
,
or
of
forreine
growth
:
and
therein
examples
is
the
best
precept
;
And
hereupon
we
are
sent
to
the
〈…〉
to
learne
frugality
;
industry
,
and
policy
,
in
whose
commendation
he
seemeth
to
speake
:
like
vnto
the
Temporising
Frier
Cornelius
of
Bridges
,
(
who
(
according
to
the
euents
of
things
)
would
in
his
Sermons
speake
of
the
Prince
of
Orenge
,
during
the
late
war●es
of
the
Low
Countries
,
as
the
succes
fell
out
,
and
call
his
auditory
to
witness
that
be
ne●●er
spake
〈◊〉
the
Prince
,
when
he
〈◊〉
and
railed
of
him
beyond
measure
at
other
times
〈◊〉
,
vntill
some
other
accident
falling
out
on
the
〈◊〉trary
.
So
this
man
moueth
a
question
,
and
like
him selfe
,
kicks
downe
all
at
once
what
he
had
spoken
,
saying
,
And
why
not
the
Belgicke
Grashopper
?
for
the
Grashopper
hath
no
King
,
yet
they
march
out
〈◊〉
Troupes
,
they
are
a
multitude
by
Sea
and
Land
,
and
thy
feede
vpon
Rootes
and
Herbes
;
as
he
saith
in
〈◊〉
the
margent
,
Fryer
Cornelius
was
wont
to
say
,
when
(
speaking
of
Heritickes
)
he
said
there
was
a
thousand
burnt
,
Sed
erant
Cespites
,
they
were
〈…〉
this
a
full
Frenzie
.
Like
vnto
the
Daughters
of
P●●tus
,
that
tooke
themselues
to
be
Kine
:
raging
like
Hercules
and
Aiax
in
the
Tragedie
?
Thinke
you
that
Endimion
did
euer
dreame
such
dreames
▪
Or
the
seuen
Sleepers
,
that
slept
from
the
〈◊〉
Decius
,
to
the
dayes
of
Theodosius
.
But
what
will
not
nouelty
and
singularity
bring
forth
?
I
leaue
this
Ianu●
to
his
feeding
of
rootes
in
the
Low
Countries
,
seeing
he
is
fallen
from
a
Gallum●frey
〈…〉
Hotchpotch
of
other
mens
Cookeries
:
Being
in
this
humor
he
falleth
into
timing
:
The
Persian
trade
will
not
let
me
passe
,
nor
the
fishing
neither
without
a
word
of
either
.
The
Persian
Trade
for
Silkes
is
of
far
lesse
benefit
then
the
Trades
of
Spices
and
other
East
India
commodities
;
and
the
increase
of
the
Manufactures
thereof
will
decrease
the
indraping
of
our
Woolls
,
and
increase
our
ouerballance
:
vnlesse
moneys
were
imported
for
the
greatest
part
of
the
returne
thereof
.
But
the
Fishing
Trade
(
propounded
so
many
yeares
since
by
Mr.
Iohn
Keymer
,
with
the
assistance
of
the
Noble
Lord
Sheffield
,
Sir
william
Cokaine
Knight
,
and
diuers
other
worthy
persons
of
quallity
,
who
haue
promised
to
lay
out
great
summes
of
money
therein
)
will
effectually
improue
our
exportations
,
and
afford
much
more
benefit
then
any
Persian
or
East
India
Trade
can
doe
,
if
his
Maiestie
were
pleased
to
encourage
them
with
preuiledges
and
immunities
,
as
the
〈◊〉
of
the
action
deserueth
.
But
the
enuious
man
sleepeth
not
,
who
is
able
(
vpon
one
mans
vndigested
opinion
sometimes
)
to
ouerthrow
the
long
industrous
study
of
others
that
sincerely
intend
the
common
good
.
Shall
we
propound
the
example
of
other
nations
concerning
their
industry
and
pollicie
▪
and
shall
we
not
be
able
to
imitate
them
?
Can
they
increase
Manufactures
vpon
the
materialls
of
other
Countries
?
)
And
cannot
we
do
the
fame
of
our
owne
stuffes
and
materialls
?
Shall
we
runne
into
remote
Regione
and
Countries
for
their
Commodities
to
make
a
benefit
,
and
neglect
Gods
blessings
at
home
before
their
owne
doores
?
Doe
we
feele
the
Politike
Body
of
the
Common
wealth
distempered
and
full
of
diseases
,
and
〈◊〉
found
out
the
efficient
causes
thereof
)
shall
wee
not
be
able
to
prouide
the
Remedies
?
If
things
cannot
be
vnderstood
in
plaine
terms
it
may
be
the
Allegory
following
will
make
vs
more
sensible
of
naturall
Remedies
.
An
Allegory
of
the
decayed
Trade
of
England
,
compared
to
a
diseased
Body
naturall
:
with
the
Remedies
to
cure
the
same
.
STates-men
or
Politicians
(
which
are
the
Phisitians
of
Common-weales
)
hauing
entred
into
serious
consideration
of
the
estate
of
the
Politike
Body
of
Trafficque
,
do
finde
that
the
externall
parts
thereof
looke
wan
and
pale
,
prognosticating
a
consumption
of
the
liuer
:
(
Money
)
which
causeth
the
decay
of
Merchants
and
Trades-men
;
hollow
eyes
and
dim
sighted
,
through
the
exhalation
of
the
R●dicall
Moisture
of
the
Body
,
by
the
excessiue
vse
of
Tabac●
,
whereby
the
memory
is
decayed
:
and
the
sinowes
of
the
ancient
Statutes
and
Proclamations
are
de●ilitated
:
the
ordinances
for
the
gouernment
of
the
braine
,
(
Exchange
)
and
rectifying
of
the
Liuer
(
Money
)
to
comfort
the
heart
of
(
our
Natiue
Commodities
)
are
put
in
obliuion
;
Tobacco
is
imported
in
the
liew
of
Spanish
Royalls
and
Pistolets
,
which
causeth
the
prises
(
the
Hammers
of
the
Mint
)
to
be
weake
and
faint
:
the
Vrine
they
found
to
be
of
a
cleere
greenish
colour
,
proceeding
from
weakne●
and
the
vse
of
too
much
white
Wine
sophisticated
into
Claret
,
the
Leggs
full
of
dropsicke
humors
of
consumption
,
by
the
immoderate
wearing
of
Veluets
,
Silkes
,
Cambricks
and
Lawnes
:
engendring
an
ouerballancing
(
or
surfet
)
of
forreine
commodities
,
so
that
the
Vitall
Spirits
of
Bullion
and
Monly
doth
languish
with
a
continuall
Flux
of
exportation
.
Considering
the
internal
parts
,
they
found
the
liuer
(
Money
)
obstructed
,
and
the
condinct
pipes
of
Bullion
and
Moneys
for
importation
stopt
,
whereby
the
Hepaties
could
not
minister
good
bloud
,
with
spirits
sufficient
to
comfort
the
heart
of
(
our
natiue
commodities
)
by
a
naturall
heate
:
for
the
gaule
of
Customes
and
impositions
is
ouerflown
also
,
depriuing
the
stomacke
of
his
appetie
:
hence
the
braine
(
Exchange
,
wanting
sleepe
)
is
distempered
,
whereby
the
body
is
ouertaken
with
a
Trepidation
or
shaking
,
shewing
the
very
Symptomes
of
death
.
Hereupon
some
Empricke
(
being
more
forward
then
the
learned
Phisitians
)
did
deliuer
his
opinion
,
that
the
said
body
(
by
a
surset
,
or
ouerballancing
of
forreine
commodities
)
is
fallen
into
a
consumption
:
yet
that
nature
is
so
strong
,
that
(
without
Phisicke
)
she
will
recouer
againe
her
former
health
in
progresse
of
time
;
But
herein
he
shall
finde
himselfe
as
much
deceiued
,
as
the
Spaniard
was
(
who
being
to
go
a
iourney
on
foote
)
resolued
to
go
fasting
,
conceiuing
he
should
go
the
lighter
:
but
fainting
by
the
way
,
cryed
out
,
Aora
hallo
que
las
Tripas
Ile●●anel
vientre
,
y
no
el
vientpe
las
Tripas
:
now
do
I
find
that
the
Guts
do
carry
the
Belly
,
&
not
the
Belly
the
whereupon
he
vsed
afterwards
meate
and
〈◊〉
for
his
sustenance
vpon
the
like
occasion
:
and
found
on
the
contrary
,
that
the
abuse
thereof
did
〈…〉
surfeits
in
the
Body
naturall
:
euen
as
the
abuse
of
money
and
exchanges
doth
in
the
Body
of
Traffique
,
whereunto
Phisicke
must
be
ministred
vpon
necessitie
,
according
to
the
disease
.
Another
Practitioner
in
Phisicke
was
of
opinion
;
that
the
Flux
of
exportation
should
be
diuerted
and
stopt
by
opening
the
Meridian
Veyne
,
suffering
moneys
to
be
exported
at
the
pleasure
of
Merchants
▪
but
vpon
better
consideration
of
the
weaknes
of
the
Body
,
(
through
the
former
profusion
of
Bloud
)
he
did
alter
the
said
opinion
:
obseruing
that
Art
giuen
no
facility
,
when
nature
wanteth
ability
for
to
increase
Manufactures
and
Fishing
,
thereby
to
cu●●
the
said
surfeit
or
ouerballancing
.
Whereupon
the
learned
Phisitians
of
experience
(
hauing
examined
the
causes
of
the
diseases
of
this
Body
)
did
resolue
to
apply
and
vse
proper
Remedies
.
First
,
That
the
continuall
Flux
of
exportation
of
our
moneys
must
be
stopt
by
taking
away
the
cause
thereof
,
which
is
(
Gaine
)
had
vpon
moneys
,
proceeding
of
the
vndervaluation
of
our
moneys
in
exchange
,
and
the
inhauncing
of
moneys
beyond
the
Seas
.
Next
,
That
the
obstruction
of
the
Liuer
,
(
Money
,
and
the
conduict
Pipes
of
Spanish
Royalls
and
Germaine
Dollers
)
must
be
opened
by
the
meanes
of
the
Braine
,
(
Exchange
)
to
minister
good
Bloud
and
Spirits
to
the
Heart
of
our
natiue
Commodities
,
to
make
a
liuely
Trade
,
whereby
Bullion
brought
to
the
Mint
,
will
cause
the
hammers
(
as
the
〈◊〉
of
the
Body
of
Trade
)
to
beate
with
temperate
strokes
,
by
meanes
whereof
the
distemperature
of
the
Braine
(
Exchange
)
will
be
qualified
:
the
bitternes
of
the
Gaule
shall
prouoke
appetie
,
when
customes
and
impositions
shall
be
moderated
in
the
rates
,
without
diminution
of
substance
:
the
Sin●wes
of
the
necessary
ancient
Statutes
and
Proclamations
for
the
gouernment
of
Trade
will
be
corroborated
;
the
Eye
sight
will
be
illuminated
when
the
ouer
much
smoake
of
Tobacco
is
vanished
away
:
and
the
Complection
will
be
liuely
when
Merchants
shall
be
encouraged
.
Wee
shall
not
neede
to
vse
Mechoacan
or
Indian
Rootes
against
the
Dropsie
,
or
Prohibitions
against
the
ouermuch
importation
of
forreine
Commodities
in
the
wearing
of
them
(
which
will
enforce
the
like
vse
in
other
Countries
:
)
for
the
humors
of
the
Leggs
will
be
euacuated
,
and
the
convulsion
of
the
face
(
by
our
natiue
Commodities
truely
made
and
vented
)
will
be
extenuated
:
for
plenty
of
money
shal
aduance
the
quantity
and
price
of
them
,
and
abate
the
price
of
forreine
Commodities
,
whereby
the
Surfit
or
ouerballancing
will
be
remedded
,
if
we
preserue
the
good
Bloud
in
the
Body
by
the
wisedome
of
the
Braine
(
Exchange
)
where
the
seate
of
Iudgement
is
placed
to
increase
the
same
for
the
comfort
of
the
Heart
,
(
our
natiue
Commodities
)
which
shall
receiue
thereby
his
tintered
Chylus
by
his
owne
mouth
and
stomacke
:
and
the
bloud
full
of
Spirits
shall
fill
all
the
veines
,
and
strengthen
the
Sinowes
:
by
supplying
the
want
of
moneys
,
the
easie
course
and
recourse
of
whose
Exchange
(
finding
rest
by
the
Basis
of
true
valuation
)
shall
supple
the
Ioynts
and
settle
the
bloud
to
serue
all
mens
turnes
,
whereby
the
said
shaking
of
the
body
will
cease
,
the
colour
of
the
vrine
will
be
rectified
,
the
too
much
vse
of
white
Wine
shall
not
be
so
much
offensiue
,
but
in
some
measure
reioyce
the
Heart
,
and
take
away
the
melancholike
disease
of
the
mind
,
which
commonly
procureth
the
disease
of
the
Body
.
Finally
,
The
Body
will
be
cured
of
the
said
consumption
,
and
grow
fat
againe
by
a
true
and
lawfull
replection
,
of
the
generall
good
of
the
King
and
Common-wealth
,
through
Gods
blessings
.
If
this
Allegory
be
truely
considered
,
we
shall
find
that
therein
is
a
liuely
expression
of
the
diseases
of
the
Politike
Body
of
Trade
:
and
if
a
naturall
Body
had
all
the
said
diseases
,
there
is
no
other
remedy
nor
way
to
to
cure
the
same
but
after
the
maner
here
declared
,
as
the
learned
Phisitians
of
experience
will
confesse
:
for
the
reasons
are
plaine
and
euident
,
and
without
Phisicke
it
is
impossible
to
cure
it
.
Will
any
man
of
iudgement
thinke
that
the
Flux
will
be
stopt
of
course
by
the
strength
of
nature
,
so
long
as
we
minister
such
things
which
of
themselues
are
laxitiue
?
Or
shall
we
expect
that
the
Veines
will
be
filled
with
Bloud
,
when
the
Hepaties
want
their
operation
?
Or
if
Bloud
did
increase
,
shall
the
Body
receiue
nutriment
so
long
as
there
is
a
profusion
of
Bloud
?
Or
shall
the
Heart
be
comforted
with
the
liuely
spirits
of
the
Bloud
?
Shall
the
Braine
receiue
rest
,
vnlesse
she
doe
finde
meanes
to
strengthen
the
Heart
:
and
that
the
Liuer
,
the
Heart
,
and
the
〈◊〉
may
all
in
one
Simpathy
performe
their
functions
?
The
Stomacke
cannot
disgest
,
euery
thing
prouoketh
a
surfet
:
the
Gaule
(
by
her
ouerstowing
)
hindereth
appetite
,
which
bringeth
a
distemperature
to
the
whole
Body
,
and
filleth
the
same
with
crude
humours
,
engendring
Dropsies
and
other
diseases
,
which
at
last
turne
into
a
consumption
:
the
Braine
wanteth
sleepe
,
for
the
spirits
are
fatigated
and
troubled
.
To
make
application
hereof
to
the
Body
Politike
of
Trade
,
we
know
that
euen
as
in
naturall
Bodies
the
Heart
(
which
is
the
Center
of
the
Body
)
receiueth
life
first
,
and
retaineth
the
same
last
;
So
Commodities
in
Traffique
are
first
,
and
moneys
came
afterwards
,
whereby
Commutation
or
Barter
was
brought
into
a
Trade
:
and
to
preserue
that
money
,
(
as
the
Bloud
in
the
Body
)
exchange
was
deuised
as
a
spirit
to
quicken
the
same
;
and
shall
it
be
vsed
to
destroy
the
Body
because
the
true
vse
of
it
is
not
vnderstood
,
and
the
same
is
made
a
Merchandise
?
Shall
we
imagine
that
the
exportation
of
our
moneys
shall
be
preuented
,
when
by
taking
inhaunced
coyne
beyond
the
Seas
aboue
the
true
value
in
exchange
,
wee
feede
the
causes
of
exportation
?
Or
shall
we
expect
that
moneys
shall
be
imported
vnto
vs
,
when
there
is
a
losse
by
the
bringing
of
them
,
which
losse
is
measured
according
to
the
price
of
exchange
:
which
to
auoide
,
compelleth
vs
to
buy
forreine
Commodities
?
Or
if
any
moneys
are
imported
,
(
by
accident
or
occasion
)
shall
the
Body
of
Trade
be
the
better
by
it
so
long
as
they
are
carried
out
againe
?
Shall
the
Trade
of
our
natiue
Commodities
be
liuely
,
when
moneys
are
wanting
?
Can
the
exchange
haue
his
due
course
,
vnlesse
the
foundation
thereof
according
to
Parity
and
Equality
be
respected
,
howsoeuer
the
price
thereof
may
rise
and
fall
according
to
the
occasions
of
Merchants
,
and
the
plenty
or
scarsity
of
moneys
?
Shall
not
the
price
of
this
true
exchange
impose
a
price
vpon
our
natiue
Commodities
,
so
that
Commodities
,
moneys
and
exchanges
may
(
according
to
equitie
and
iustice
)
be
gouerned
in
their
proper
natures
accordingly
?
The
Kingdome
cannot
consume
the
forreine
Commodities
imported
,
but
they
cause
an
ouerballancing
;
the
Customes
and
Impositions
(
which
might
be
moderated
in
the
rate
,
and
yet
not
decrease
in
value
by
the
greater
employment
of
Trade
)
doth
discourage
Merchants
,
which
bringeth
a
distemperature
in
Trade
:
forraine
wares
are
oueraboundantly
brought
in
,
in
the
liew
of
moneys
,
whereby
the
Realme
doth
swell
with
forreine
Commodities
,
which
(
being
retransported
)
bring
still
other
Wares
in
returne
:
so
that
moneys
and
bullion
(
the
vitall
spirit
of
Trade
)
is
neglected
,
which
is
properly
the
decay
of
Trade
;
For
the
exchange
(
which
ruleth
Commodities
and
money
)
is
ouerruled
by
other
Nations
.
Let
vs
therefore
practise
the
contrary
,
to
finde
a
full
remedy
for
Contraria
contrarijs
curantur
.
The
Turke
,
The
King
of
Ba●tan
and
other
Princes
in
the
East
doe
the
like
,
selling
their
corruptible
Wares
for
siluer
to
hoord
vp
the
same
;
cannot
this
awake
vs
to
imitate
them
,
when
it
may
be
done
by
so
easie
meanes
through
the
Center
of
Commerce
so
often
repeated
?
I
say
no
more
,
but
leaue
it
to
the
high
wisdome
of
the
King
and
State
to
direct
it
,
wherein
Misseldens
Ballance
is
as
necessary
as
the
first
wheele
in
a
Wagon
.
To
make
an
end
therefore
with
his
Copia
Verborum
,
Acadnes
thred
)
he
is
got
out
of
the
Labyrinth
of
the
Little
Fish
and
Great
Whale
;
but
this
little
Spawne
will
sticke
so
fast
in
his
Throate
,
that
he
shall
neede
of
Cranes
to
plucke
it
out
:
so
that
I
might
very
well
retort
vpon
him
his
conceited
dismission
and
capritious
farewel
,
borrowed
of
the
ancient
Fathers
.
But
it
is
sufficient
for
me
to
shew
that
(
as
it
is
the
fable
of
the
Fox
)
he
hath
onely
licked
the
out
side
of
the
Glasse
of
true
iudgement
of
this
matter
of
State
,
but
could
neuer
come
to
the
Pottage
or
Center
,
according
to
the
olde
obseruation
:
Index
〈◊〉
of
my
writings
:
but
(
finding
that
his
durty
broome
had
employment
to
clense
the
Stables
at
Hack●●y
and
now
to
finde
out
the
Interlopers
beyond
the
Seas
)
he
left
it
.
I
still
do
striue
to
be
temperate
,
but
publike
slaunders
cannot
be
washed
off
but
by
publike
defences
:
sure
I
am
that
my
Bookes
are
acceptable
vnto
wisemen
,
and
Lex
Mercitoria
is
translated
into
Spanish
and
French
,
and
much
respected
beyond
the
Seas
;
In
the
Conclusion
of
which
Booke
to
the
Indicious
Reader
I
gaue
notice
long
since
,
that
Enuy
would
command
Triple
headed
Cerberus
to
let
loose
the
Satyres
,
Zoylus
,
Momus
,
and
Mastix
:
for
this
latter
was
already
come
on
a
Hackney
Horse
with
a
Blattant
tongue
to
carpe
at
the
actions
of
any
man
▪
Thus
hauing
made
his
Circle
vsefull
in
some
respect
by
placing
of
a
Center
in
it
,
Pindarum
quis
quid
studet
aemulari
,
Iuli
ceratis
ope
Dedalea
,
Nititur
Pennis
,
vitreo
daturus
,
—
Nomina
Ponto
.
Iulus
who
striues
,
Pinder
to
emulate
With
waxen
wings
,
which
Dedals
Art
did
make
:
He
flies
in
vaine
,
to
giue
by
haplesse
fate
Names
to
the
Icarian
glassie
blewish
lake
.
For
Misselden
hauing
in
his
former
Treatise
(
either
ignorantly
or
willingly
)
omitted
to
handle
The
Pradominant
Part
of
Trade
,
namely
the
Mistery
of
Exchange
,
which
is
the
Publike
Measure
between
vs
and
other
nations
,
as
we
haue
poued
now
in
this
his
Circle
of
Commerce
;
he
hath
vndertaken
(
with
the
Artificiall
wings
of
his
supporters
set
on
with
wax
)
to
fly
so
high
in
the
discourse
thereof
,
that
this
hot
climate
of
the
Antartike
Circle
or
South
Pole
hath
dissolued
the
wax
,
and
the
splendant
Beames
of
the
Sunne
of
truth
hath
dispelled
all
foggy
misteries
of
deceitfull
fallacies
as
aforesaid
:
so
that
he
is
drowned
(
with
his
Ballance
)
in
the
Sea
of
Exchanges
,
according
to
Ouids
Allusion
.
Ipse
Misseldemus
nomina
facit
aquis
.
THE
CONCLVSION
.
VNto
you
therfore
Noble
Lords
and
Right
Honorable
Priuy
Councellers
of
State
,
with
the
rest
of
the
Right
Worshipfull
his
Maiesties
Commissioners
for
Trade
,
(
whom
I
haue
at
all
times
attended
as
becommeth
me
)
vnto
your
graue
wisdomes
and
discretions
(
I
say
)
belongeth
properly
the
serious
consideration
of
this
Center
of
Commerce
.
This
is
the
firme
North
Starre
of
Trade
,
by
which
your
Compasse
is
to
be
directed
according
to
the
Lawes
,
Statutes
,
and
Ordinances
of
this
Realme
of
England
;
This
is
the
Rudder
of
the
Ship
of
Traffique
to
guide
&
steire
Commerce
to
her
right
ports
or
Hauens
of
profit
.
This
is
that
true
Par
of
Exchange
approued
by
the
Lawes
of
nations
,
that
hath
no
imposture
,
froth
,
nor
fallacy
to
amuse
or
abuse
vs
with
:
as
the
casting
of
a
deceitfull
Ballance
hath
,
wherein
no
certainty
can
be
found
.
Let
not
your
Heroicall
Vertues
for
the
Publike
good
be
blemisht
with
priuate
Centers
of
Commerce
:
but
be
you
a
meanes
that
Phebus
himselfe
will
be
pleased
to
driue
the
Chariot
of
Trade
:
this
Center
,
whereby
the
Horses
of
all
societies
and
corporations
my
draw
a
like
in
the
course
of
Trade
by
his
wise
guiding
and
direction
:
For
Money
of
it selfe
(
be
it
more
or
lesse
)
in
whose
hands
so
euer
,
without
Bullion
to
supply
,
is
but
water
in
a
Cesterne
taken
from
the
Spring
,
that
by
vse
becomes
exhausted
,
or
being
but
let
alone
,
consumes
it selfe
to
nothing
by
strikes
and
putrifaction
.
So
Coyne
becomes
but
Medals
,
out
of
vse
,
of
out
of
fashion
.
For
Bullion
being
the
Fountaine
,
Money
is
but
the
Water
,
and
Exchange
the
Riuer
that
serues
all
priuate
turnes
.
Bullion
being
the
Sun
,
Money
is
but
the
Beames
,
Exchange
the
Light
that
makes
the
world
to
see
.
Bullion
being
the
Pilot
,
Money
is
but
the
Sterne
,
Exchange
the
Compasse
that
guides
all
courses
right
.
Bullion
being
the
Chylus
,
Money
is
but
the
Bloud
,
Exchange
the
Spirit
that
quickens
all
the
Body
.
To
be
short
,
Bullion
is
the
very
Body
and
Bloud
of
Kings
,
Money
is
but
the
Medium
betweene
Subiects
and
their
Kings
,
Exchange
the
heauenly
Mistery
that
ioynes
them
both
together
.
Next
therefore
let
the
exportation
of
moneys
,
the
profusion
of
Bloud
,
be
preuented
by
the
meanes
of
this
Center
,
(
wherein
the
vitall
spirit
of
Trade
doth
consist
)
and
procure
plenty
of
Money
and
Bullion
by
all
Reall
Substantiall
and
Politike
meanes
;
For
plenty
of
Money
will
improue
your
Lands
,
aduance
the
price
of
your
natiue
Commodities
,
increase
your
Manufactures
,
establish
the
Fishing
,
maintaine
forreine
Trades
,
augment
the
Kings
reuinewes
,
make
forreine
Wares
better
cheape
,
preuent
the
ouerballancing
,
and
inrich
the
Kingdome
with
an
aduancement
of
all
the
dependances
of
Trade
,
contained
in
the
Articles
of
your
Commission
.
God
grant
a
blessing
in
all
,
to
his
Glory
,
the
Kings
Honor
,
and
the
Kingdomes
welfare
.
Obsta
Principijs
,
sedo
Medicina
Paratur
.
FINIS
.