THE
Maintenance
of
Free
Trade
,
According
to
the
Three
Essentiall
parts
of
Traffique
,
namely
,
Commodities
,
Monyes
,
and
Exchange
of
Monyes
by
billes
of
Exchanges
,
for
other
Countries
.
NATVRALL
Mother
wit
,
did
teach
man
,
before
Arts
or
Sciences
were
inuented
;
that
of
all
things
and
in
all
humane
actions
:
the
Beginning
,
Progresse
,
Continuance
and
Termination
Principle
or
Originall
produceth
the
longer
continuance
,
shewing
(
by
digresion
)
how
the
same
is
decayed
and
may
bee
reduced
to
the
first
integrity
and
goodnesse
.
For
there
was
neuer
any
thing
by
the
wit
of
man
so
well
deuised
,
or
so
sure
established
;
which
in
continuance
of
time
hath
not
bin
corrupted
.
The
consideration
whereof
is
most
requisite
,
in
the
reformation
of
the
course
of
Traffique
,
as
a
matter
eminent
for
the
good
and
welfare
of
Commonweales
,
and
especially
for
England
.
Quia
vita
ciuilis
in
societate
posita
est
,
Societ
as
autem
in
imperio
&
commercio
.
According
to
this
rule
,
let
vs
obserue
,
that
all
the
Traffique
and
Trade
betweene
vs
and
forraine
nations
,
is
performed
vnder
three
Simples
,
which
are
the
essentiall
Parts
thereof
,
namely
,
Commodities
,
Monyes
,
and
Exchange
of
money
by
Bills
for
forraine
Parts
;
which
may
be
aptly
compared
to
the
Body
,
Soule
,
and
Spirit
of
Traffique
.
The
First
as
the
Body
,
vpheld
the
world
by
Commutation
and
Bartring
of
commodities
,
vntill
The
Second
,
as
the
Soule
in
the
Body
,
did
infuse
life
to
Traffique
by
the
meanes
of
Equality
and
The
Third
,
as
the
Spirit
and
faculty
of
the
soule
(
beeing
seated
euery
where
)
corroborateth
the
Vitall
spirit
of
Traffique
,
directing
and
controlling
(
by
iust
proportions
)
the
prices
and
values
of
commodities
and
monyes
.
Now
euen
as
monyes
were
inuented
to
bee
coyned
of
the
purest
mettals
of
siluer
and
gold
to
bee
the
Square
and
Rule
to
set
a
price
vnto
all
commodities
and
other
things
whatsoeuer
within
the
Realme
,
and
therefore
called
Publica
Mensura
:
euen
so
is
exchange
of
monyes
by
Bills
,
The
Publike
Measure
betweene
vs
and
forraine
countries
,
according
to
which
,
all
commodities
are
bought
and
sold
in
the
course
of
Traffique
;
for
this
exchange
is
grounded
vpon
the
weight
,
finenesse
,
and
v●…luation
of
the
money
of
each
countrey
:
albeit
the
price
thereof
in
exchange
doth
rise
and
fall
according
to
scarcity
and
plenty
of
money
,
and
the
few
or
many
deliuerers
and
takers
thereof
.
These
three
essentiall
parts
of
Traffique
are
to
bee
considered
ioyntly
and
diuidedly
for
the
good
of
Commonweales
in
the
benefite
to
bee
procured
for
the
generall
welfare
,
or
for
the
particular
profit
of
some
few
persons
;
for
albeit
that
the
generall
is
composed
of
the
particular
:
yet
it
may
fall
out
,
that
the
general
shall
receiue
an
intollerable
preiudice
and
losse
,
by
the
particular
Some
Merchants
doe
deale
all
for
Commodities
,
others
for
Monyes
,
and
other
some
altogether
for
Exchanges
or
all
three
,
or
that
which
yeeldeth
them
most
gaine
:
and
commonly
without
consideration
had
of
the
good
of
the
Commonwealth
,
which
is
the
cause
that
Princes
and
Gouernours
are
to
sit
at
the
sterne
of
the
course
of
Trade
and
Commerce
.
For
to
speake
ingeniously
,
Merchants
cannot
enter
into
consideration
of
the
quantity
of
forraine
Money
,
Bullion
or
Wares
.
Finally
Merchants
(
seeking
their
Priuatum
Commodum
)
take
notice
onely
of
what
is
prohibited
and
commanded
,
whereas
it
may
fall
out
also
,
that
to
require
their
opinion
for
the
reformation
of
some
abuses
:
they
may
bee
thought
many
times
as
vnfit
,
as
to
call
the
Vintner
to
the
consultation
of
lawes
to
bee
made
against
drunkards
.
Kings
and
Princes
therefore
,
which
are
the
fathers
of
the
great
families
of
Commonweales
For
the
effecting
whereof
,
there
is
a
serious
study
to
bee
had
in
the
true
vnderstanding
of
the
Three
essentiall
Parts
of
Traffique
,
whereof
the
course
of
exchange
(
which
is
the
most
neglected
)
will
bee
found
to
bee
the
efficient
Cause
,
which
with
vs
is
Praedominant
,
and
ouerruleth
the
course
of
Monyes
and
Commodities
,
as
shall
bee
declared
in
this
discourse
.
For
these
Three
parts
of
Traffique
concurre
ioyntly
together
in
their
proper
function
and
nature
,
by
an
orderly
carriage
,
according
to
their
first
inuention
and
institution
.
For
as
the
Elements
are
ioyned
by
Symbolization
,
the
Ayre
to
the
Fire
by
warmenesse
;
the
Water
to
the
Ayre
,
by
moisture
;
the
Earth
to
the
Water
,
by
coldnesse
:
So
is
exchange
ioyned
to
mohyes
,
and
monyes
to
commodities
,
by
their
proper
qualities
and
effects
.
And
euer
as
in
a
Clocke
,
where
there
be
many
wheeles
,
the
first
wheele
being
stirred
,
driueth
the
next
,
and
that
the
third
,
and
so
foorth
,
till
the
last
that
moueth
the
instrument
that
strikes
the
clocke
:
euen
so
is
it
in
the
course
of
Traffique
:
for
since
money
was
inuented
and
became
the
first
wheele
which
stirreth
the
wheele
of
Commodities
and
inforceth
the
Action
.
But
the
third
wheele
of
exchange
of
monyes
betweene
Countrey
and
countrey
;
being
established
and
grounded
vpon
monyes
,
is
(
in
effect
)
like
to
the
instrument
that
striketh
the
Clocke
,
being
therein
the
thing
Actiue
,
and
Commodities
&
Monyes
are
become
When
the
Art
of
nauigation
and
shipping
had
continued
many
yeares
,
and
marriners
did
●…mitate
each
others
obseruation
,
before
the
Science
of
the
Mathematiks
was
inuented
:
It
●…apned
that
two
great
Whales
with
a
great
●…olubility
swimming
in
furious
manner
,
did
approach
an
English
ship
of
Traffique
which
was
●…ound
for
the
Coast
of
Barbary
,
saden
with
di●…ers
good
Commodities
and
Staple
wares
.
The
marriners
(
as
the
manner
was
:
)
did
with
all
diligence
cast
ouerboord
diuers
empty
barrels
for
the
whales
to
play
with
all
,
and
to
keepe
them
from
the
ship
.
The
whales
not
pleased
therewith
,
and
a
suddaine
storme
arising
,
did
endanger
their
ship
,
which
made
them
vnawares
to
cast
ouer
boord
many
good
wares
and
rich
Commodities
,
wherewith
one
of
the
whales
was
playing
.
But
the
other
whale
more
fierce
,
strook
the
Ship
many
times
with
his
Taile
,
and
at
last
broake
the
Rudder
of
the
Ship
,
whereby
they
were
much
hindered
in
their
Sailing
,
and
all
the
shippes
of
their
fleete
tooke
the
Start
of
them
and
arriued
to
their
destined
ports
,
the
rather
because
they
lost
also
their
sayling
Compasse
by
the
violence
of
the
saide
Stormy
wind
and
tempest
.
And
the
marriners
had
leisure
(
with
a
Calme
)
to
discourse
of
the
Accident
to
question
which
was
the
most
necessary
and
Actiue
thing
of
True
sailing
.
Some
did
attribute
the
same
to
the
winds
and
Currant
of
the
Seas
;
Others
to
the
sailes
and
agitations
of
the
winds
in
them
.
And
others
to
the
compasse
made
by
the
admirable
vertue
of
the
loadstone
.
But
all
of
them
were
Nouices
in
My
friends
and
good
fellowes
,
I
doe
not
a
little
admire
to
heare
you
thus
ignorant
in
matter
of
your
Profession
:
Can
not
the
losse
of
the
Rudder
of
our
ship
make
you
sensible
to
vnderstand
,
That
the
Actiue
Part
of
sayling
is
to
bee
ascribed
thereunto
,
seeing
it
driueth
the
ship
according
to
all
the
points
of
the
winds
and
variation
of
the
Compasse
being
fastened
vpon
the
Paralell
of
the
Keele
of
Equality
?
Shipwrights
will
tell
you
,
That
if
it
be
not
Rightly
placed
,
it
doth
interrupt
sayling
:
and
if
it
be
not
of
Competent
length
,
but
that
the
vpper
building
of
the
ship
doe
sway
the
same
,
it
maketh
a
ship
vnseruiceable
:
That
neither
the
direction
of
the
Compasse
,
nor
the
Receptacle
of
the
Sailes
forewind
,
can
make
her
performe
her
voyage
as
other
shippes
doe
.
I
perceiue
you
are
like
vnto
him
that
did
attribute
to
the
letters
of
a
clocke
diall
,
the
shewing
of
the
houre
,
and
not
to
the
hand
or
Index
,
which
is
the
Actiue
thing
to
shew
you
the
same
,
albeit
it
can
efficient
Cause
of
Sayling
to
the
Rudder
of
a
Ship
,
and
the
other
are
called
Secondary
or
meane
Causes
.
And
they
all
agreed
that
this
obseruation
was
true
.
Is
not
the
Moderne
Merchant
of
Hackney
or
the
Author
of
the
Treatise
of
Free
Trade
like
vnto
these
Nouices
?
who
perceiuing
two
great
whales
to
haue
assaulted
the
English
ship
of
Traffique
,
warres
in
Christendome
and
the
Pirates
,
The
other
more
gentle
,
being
the
Policy
of
Princes
and
States
in
the
Course
of
Trade
:
hath
published
in
the
yeare
of
Grace
;
1622.
The
Causes
of
the
decay
of
Trade
in
England
,
and
the
meanes
to
make
the
same
flourish
,
without
obseruation
of
the
operatiue
power
of
exchange
,
which
is
the
Rudder
of
the
Ship
of
Traffique
fastened
vpon
the
Rule
of
the
equalitie
of
Moneyes
according
to
their
weight
and
finenesse
,
to
bee
denominated
by
the
valuation
of
Princes
as
a
matter
peculiarly
appertaining
to
their
Praerogatiues
.
And
because
that
therein
,
hee
hath
like
vnto
Esops
Iay
clad
himself
with
the
feathers
of
other
Birds
:
I
hope
it
will
not
be
impertinent
,
To
vnmaske
his
discourse
,
and
neuerthelesse
to
supply
some
distribution
for
the
better
vnderstanding
,
as
a
most
important
businesse
of
State
,
which
is
the
cause
that
so
many
Statutes
and
lawes
haue
beene
made
concerning
moneyes
and
exchanges
.
2.
So
many
Proclamations
for
the
due
execution
thereof
haue
bin
published
.
3.
Lastly
,
so
many
Treatises
and
Conferences
haue
beene
had
from
Time
to
Time
,
Both
with
other
Princes
and
within
our selues
,
which
in
the
iudgement
of
the
said
Author
are
neglected
as
vnnecessary
,
or
by
ignorance
not
mentioned
;
concluding
with
him
,
That
as
there
are
many
causes
discussed
and
discoursed
of
,
at
this
time
of
the
decay
of
Trade
:
So
are
there
many
Remedies
propounded
,
wherein
if
either
the
Principall
Causes
be
mistaken
(
as
hee
hath
done
)
or
defectiue
Remedies
propounded
:
The
present
disease
of
this
Trade
may
increase
and
cast
the
Body
into
a
more
dangerous
Sicknes
.
For
the
effici●…
Cause
being
vnknowne
,
putteth
out
the
Phisitians
eye
,
as
the
Prouerbe
is
.
Now
let
vs
come
to
the
handling
of
the
particulars
in
order
,
and
afterward
to
the
True
Remedies
,
which
must
arise
from
the
matter
of
exchange
,
as
shall
bee
plainely
demonstrated
to
the
iudicious
Reader
,
voide
of
partiality
;
for
the
exchange
is
the
faculty
or
Spirit
of
the
soule
of
moneyes
in
the
Course
of
Traffique
.
CHAP.
I.
The
Causes
of
the
Want
of
Moneys
in
England
.
THis
Assertion
we
shall
now
bring
to
the
hammer
,
the
Anuel
and
the
Touchstone
,
namely
to
firme
Reason
,
by
his
owne
first
Argument
of
the
immediate
Cause
of
the
want
of
money
in
England
,
alleaged
by
him
to
bee
the
vnderualuation
of
his
Maiesties
Coyne
,
where
he
saith
by
way
of
interrogation
:
Who
will
procure
licence
in
Spaine
to
bring
Realls
into
England
,
to
sell
them
here
at
Tenne
in
the
hundred
Gaine
,
which
is
lesse
then
the
exchange
from
thence
will
yeeld
,
when
he
may
haue
for
the
same
,
fiue
and
twenty
in
the
hundred
in
Holland
?
Here
in
an
obscure
manner
,
he
obserueth
the
exchange
from
Spayne
to
be
Sixe
pence
the
Reall
,
as
value
for
value
,
or
the
Par
in
exchange
,
whereby
it
is
lesse
(
as
hee
saith
:
)
and
hee
doth
account
the
price
of
8.
Reals
at
51.
Stiuers
in
Holland
,
and
the
Rate
of
exchange
at
33.
shillings
4.
pence
Flemish
to
answer
our
20.
shillings
Starlin
as
at
Par
pro
Pari
for
those
parts
,
howbeit
that
42.
shillings
6.
pence
Flemish
payde
there
for
the
5.
Realls
of
8.
make
25.
shillings
6.
pence
Starlin
according
to
that
Computation
;
howsoeuer
wee
see
that
this
is
grounded
vpon
the
exchange
,
which
is
the
efficient
Cause
thereof
,
otherwise
the
15.
in
the
hundreth
to
be
gotten
in
Holland
more
then
in
England
:
is
altogether
imaginary
and
not
Reall
.
For
example
let
fiue
of
these
Realls
of
8.
be
bought
here
for
Par
of
exchange
was
made
to
be
33.
shillings
4.
pence
,
in
the
yeare
1586
,
when
Robert
Dudley
,
Earle
of
Leycester
,
went
to
take
the
gouernment
of
those
Countries
:
And
shal
we
now
receiue
in
exchange
the
said
price
of
8.
Reals
for
51.
Stiuers
,
which
is
aboue
fiue
shillings
and
one
penny
Starlin
,
because
they
haue
inhaunced
the
same
to
their
advantage
,
and
continue
the
Par
of
exchange
at
33.
shillings
4.
pence
.
by
which
Computation
the
said
42.
Stiuers
make
but
foure
shillings
two
pence
halfe
penny
or
thereabouts
in
true
value
?
Absit
ignorantia
.
Whereas
,
if
our
merchants
of
Spaine
should
giue
the
saide
price
there
in
exchange
for
42.
Stiuers
,
as
they
did
formerly
,
(
and
may
be
done
by
order
of
exchange
:
)
They
shall
not
finde
thereby
Ten
in
the
hundreth
gaine
,
which
they
can
make
here
more
certaine
and
commodiously
,
whereby
this
money
will
be
imported
,
without
inhauncing
of
our
Coyne
.
This
is
so
plaine
in
the
vnderstanding
of
Merchants
,
that
there
needeth
no
other
explanation
,
for
it
demonstrateth
manifestly
,
that
if
the
lowe
exchange
were
not
,
This
Gayne
would
prooue
to
be
Imaginary
,
as
we
haue
noted
.
And
this
causeth
these
Realls
of
Spayne
to
be
diuerted
from
vs
,
and
might
els
be
imported
to
the
said
Merchants
or
others
,
which
doe
practise
vpon
the
Benefite
of
moneys
to
bee
made
betweene
the
exchange
and
moneys
.
For
the
Rule
is
infallible
,
That
when
the
exchange
doth
answer
the
true
value
of
our
moneys
according
to
their
intrinsicke
weight
and
finenesse
,
and
their
extrinsicke
valuation
:
They
are
neuer
exported
,
because
the
Gayne
is
answered
Sublata
Causa
,
Tollitur
effectus
.
So
that
exchange
still
hath
the
command
and
striketh
the
Stroake
,
insomuch
that
albeit
the
price
thereof
riseth
and
falleth
,
according
to
Plenty
or
Scarcity
of
money
:
yet
moneys
are
ouerruled
thereby
.
For
if
you
inhaunce
the
Coyne
,
the
exchange
doth
controlle
it
and
rise
accordingly
.
And
if
you
vndervalue
the
same
,
The
exchange
in
like
manner
doth
fall
in
price
.
Wherein
note
the
operation
of
exchange
both
here
and
beyond
the
Seas
,
in
places
where
exchanges
runne
vpon
the
pound
of
20.
shillings
Starlin
.
If
the
inhauncing
of
Coyne
be
beyond
the
Seas
,
and
the
exchange
be
not
made
accordingly
:
Then
our
moneys
are
carried
out
.
If
the
inhauncing
of
Coyne
were
made
here
:
E
contra
,
moneys
would
bee
imported
.
But
the
merchant
Stranger
,
who
obserueth
the
rule
of
exchange
,
and
(
will
not
be
ouer-taken
as
wee
●…e
;
)
will
ouer-rule
the
same
ipso
facto
,
and
●…e
you
so
much
lesse
in
exchange
,
as
we
shall
●…haunce
our
Coine
by
valuation
,
or
imbase
the
●…e
by
Allay
.
In
like
manner
if
you
Cry
●…wne
moneys
beyond
the
Seas
,
Th'
exchange
●…ll
alter
in
price
accordingly
:
and
if
you
Cry
●…wne
moneys
here
,
or
vnderualue
them
by
●…me
,
Th'
exchange
ought
to
Rule
and
to
make
●…e
denomination
accordingly
in
price
,
and
still
●…maineth
Predominant
ouer
moneys
and
com●…odities
.
Publike
Measure
of
exchange
;
To
preuent
all
abuses
and
inconueniences
ari●…ng
by
the
price
of
Commodities
,
and
the
va●…uation
of
moneys
in
exchange
:
which
moneys
are
either
Reall
or
imaginary
,
according
to
the
Custome
of
the
place
of
exchange
by
the
deuice
of
Bankers
.
This
was
Seriously
obserued
in
the
yeere
1576.
by
diuers
most
honourable
and
Graue
Counsellours
of
State
,
Namely
,
Sir
Nichol●…
Bacon
,
Lord
Keeper
of
the
great
Seale
;
Sir
Willam
Burghley
Lord
Treasurour
of
England
,
T●…
mas
Earle
of
Sussex
,
Francis
Earle
of
Bedfo●…
Sir
Francis
Knowles
,
Sir
Iames
Croft
,
and
M●…
ster
Secretarie
Walsingham
,
with
the
assistan●…
of
other
worthy
persons
of
experience
,
nam●…ly
Sir
Thomas
Chamberlaine
,
Sir
Thomas
Gr●…
ham
Knight
,
Master
Peter
Osborne
,
Mast●…
Iames
Altham
,
Master
Thomas
Riuet
,
and
M●…
ster
Richard
Martin
,
Master
of
the
Minte
:
〈◊〉
they
found
that
the
following
inconuenience
were
practised
,
by
Bankers
or
exchangers
for
th●…
Priuate
gaine
and
benefite
,
for
the
aduancing
some
Common-weales
,
and
●…e
the
destruction
other
Common-weales
.
To
lay
their
money
with
Gaine
in
any
place
of
the
world
,
where
exchange
lyeth
.
To
Gaine
and
waxe
Rich
,
and
neuer
medd●…
with
any
Princes
Commodity
;
or
,
To
buy
any
Princes
Commodity
with
th●…
Subiects
money
,
and
not
one
pennie
of
their
owne
.
To
vnderstand
whether
money
employed
on
exchange
or
Commodities
is
more
profit
.
To
liue
and
increase
vpon
euery
Princes
Subiect
,
which
take
vp
moneys
.
To
winde
out
euery
Princes
Treasure
out
of
his
Realme
,
whose
Subiects
bring
in
more
Wares
,
then
they
carry
out
.
To
make
the
Staple
of
money
Runne
,
where
the
Rich
Prince
will
haue
it
.
To
vnfurnish
the
poore
Prince
of
his
prouision
of
money
in
Warres
.
To
furnish
their
need
of
money
,
that
tarry
the
selling
of
their
Wares
or
Commodities
.
To
take
vp
money
to
engrosse
any
Commodity
,
or
to
incorporate
any
Trade
.
To
hide
their
carrying
away
of
any
Princes
money
.
To
fetch
away
any
Princes
fine
money
,
with
the
baser
money
of
other
Princes
.
To
take
vp
Princes
base
money
,
and
turne
it
into
fine
,
and
pay
the
party
with
his
owne
.
To
get
all
Merchants
money
into
their
hands
and
gaine
thereby
,
and
paying
them
,
with
their
owne
.
To
make
that
Realme
gaine
of
all
other
Realmes
:
whose
Subiects
liue
most
,
by
their
owne
Commodities
,
and
sell
yeerely
the
ouerplus
into
the
world
,
and
both
occupie
that
increase
yeerely
,
and
also
their
old
store
of
Treasure
vpon
exchange
.
To
vndoe
Realmes
and
Princes
,
that
looke
not
to
their
Common-wealth
,
when
the
Merchants
wealth
in
such
and
the
great
houses
of
one
Countrie
,
conspire
together
;
so
to
rule
th'
xchange
,
that
when
they
will
be
Deliuerers
,
they
will
receiue
in
an
other
place
aboue
the
Standard
of
the
Minte
of
the
Princes
money
deliuered
:
and
when
they
will
be
Takers
;
they
will
pay
the
same
in
an
other
place
,
vnder
the
Standard
of
the
Princes
money
taken
vp
.
To
get
ready
money
to
buy
any
thing
that
is
offered
cheape
,
and
to
raise
the
price
of
Wares
.
To
get
a
part
,
and
sometimes
all
his
Gaines
,
that
employeth
money
taken
vp
by
exchanges
,
in
Wares
,
and
so
make
others
trauell
for
their
Gaine
.
To
keepe
Princes
from
hauing
any
Customes
,
Subsidies
,
or
Taxes
vpon
their
money
,
as
they
employ
it
not
.
To
value
iustly
any
Wares
they
carry
into
any
country
,
by
setting
them
at
a
value
,
as
the
money
that
bought
them
,
was
then
at
by
exchange
in
the
Countrie
,
whither
they
bee
carried
.
By
the
premisses
we
may
see
,
of
what
importance
the
operation
of
exchange
is
,
wherein
the
endeauours
of
Sir
Thomas
Gresham
,
thinking
to
rule
th'
exchange
of
England
by
plenty
of
This
was
the
cause
that
the
French
King
Lewys
the
ninth
,
and
Philip
the
faire
,
did
Confiscate
the
Bankers
Goods
,
and
so
did
Philip
d●…
Ualois
,
who
indited
them
as
Coozeners
of
the
Common-wealth
;
for
it
was
found
,
that
in
a
short
time
(
with
24.
thousand
pounds
)
they
had
gotten
●…e
and
twentie
hundred
thousand
Queene
Elizabeth
of
blessed
memory
,
●…ere
stored
with
seuen
hundred
thousand
●…unds
Starlin
,
before
the
Warres
with
the
●…rle
of
Tyrone
in
Ireland
,
wherein
more
then
●…uble
that
Summe
hath
beene
spent
,
as
I
found
〈◊〉
the
accompts
.
For
this
disordred
course
of
●…change
(
as
I
haue
said
)
is
like
to
the
cruelty
of
●…e
Planet
Saturne
,
which
maketh
his
Spheri●…ll
course
in
30.
yeeres
with
great
operation
,
●…d
it
is
not
many
yeeres
lesse
,
since
I
haue
ob●…ued
this
inconuenience
for
the
good
of
the
●…ealme
,
albeit
Enuy
hath
crossed
the
same
,
by
The
second
cause
of
the
want
of
Moneys
in
●…gland
,
is
(
saith
the
said
Author
)
the
superfluity
〈◊〉
Plate
generally
in
priuate
mens
hands
.
Here
he
●…th
omitted
,
to
Note
the
great
quantitie
of
Siluer
consumed
in
the
making
of
Siluer
Thread
,
Spangles
,
Purles
,
Oaes
,
and
the
like
,
which
vpon
late
examination
of
the
Right
Ho●…urable
Henry
Vizcount
Mandeuille
Lord
●…esident
,
are
found
to
amount
80.
thousand
●…unds
and
vpwards
yeerely
;
whereas
the
Plate
●…ade
in
London
,
is
only
but
50.
or
60.
thou●…d
An
exchange
hereof
,
wee
haue
yet
fresh
〈◊〉
memorie
,
during
the
Raigne
of
the
Fren●…
King
Charles
the
ninth
,
who
after
the
Massa●…
of
Paris
,
finding
the
Treasure
of
the
Real●…
exhausted
,
and
his
Subiects
wealth
to
con●…
more
of
Plate
then
of
ready
Money
,
was
advised
by
some
,
that
vnder
colour
of
the
Sup●…
pressing
of
Pride
,
it
were
good
to
prescribe
〈◊〉
uery
man
,
what
store
of
Plate
he
should
keep●…
according
to
his
degree
&
qualitie
,
&
the
rest
〈◊〉
be
turned
into
moneys
:
others
were
of
opinio●…
that
it
would
not
only
breed
a
discontent
vn●…
his
Subiects
,
but
also
a
derogation
and
dish●…nour
to
the
Kings
Reputation
with
forra●…
Nations
:
Seeing
,
That
the
State
of
a
Pri●…
doth
as
much
consist
by
reputation
,
as
by
streng●…
Therefore
like
good
Polititians
,
aduised
t●…
King
somewhat
to
imbase
his
money
vnder
t●…
Standard
of
the
Plate
,
which
would
cause
t●…
lesse
exportation
,
and
the
Plate
(
of
course
)
〈◊〉
bee
turned
into
money
:
and
this
was
do●…
accordingly
,
and
had
also
the
same
effect
,
s●…
uing
that
where
they
thought
money
wo●…
not
be
Transported
;
they
found
themselues
deceiued
,
for
the
course
of
exchange
was
not
looked
into
,
which
,
not
being
answered
accordi●…
to
the
true
values
of
the
moneys
,
made
a
Gai●…
by
the
vnderualuation
of
them
in
exchang●…
and
so
long
as
the
Gaine
remained
,
it
was
con●…inually
Transported
,
whereby
at
last
the
Plate
of
the
Realme
(
turned
into
money
)
was
lost
;
●…swell
as
he
lost
his
money
before
that
time
:
and
●…o
it
came
to
passe
in
England
,
during
the
Raigne
of
King
Henry
ths
eight
,
who
Granted
seuerall
Letters
Patents
,
or
Authorities
to
di●…ers
of
his
Nobles
to
make
base
moneys
of
●…heir
owne
Plate
,
which
did
fall
out
to
be
the
greater
preiudice
to
the
Common-wealth
,
and
●…o
himselfe
but
a
present
shift
for
the
time
.
Concerning
the
Gold
and
Siluer
thread
,
I
haue
●…eretofore
endeuoured
to
haue
the
Manufacture
Dart
in
Holland
.
The
third
Cause
of
the
Want
of
Moneys
〈◊〉
The
〈◊〉
uerballancing
of
those
Commodities
,
with
the
natiue
Commodities
of
the
Kingdome
,
in
Price
▪
and
not
so
much
in
the
quantitie
.
And
the
comparison
hereof
is
,
principally
to
be
made
in
the
Trade
of
cloth
,
and
the
Returne
of
it
,
made
by
Forraine
Commodities
,
As
Silkes
,
Linner
cloth
,
Cambrickes
,
Lawnes
,
and
other
the
like
Commodities
brought
in
by
the
Merchants
Aduenturours
which
haue
the
Maine
Trade
,
and
buy
these
Commoditis
(
proportionably
)
dearer
then
they
sell
our
home
Commodities
;
this
ouerballancing
doth
expell
our
moneys
out
of
the
Realme
,
and
which
are
(
in
effect
)
as
it
were
giuen
to
boote
to
other
Nations
to
Counteruaile
this
inequalitie
?
Let
them
consider
of
the
Reasons
following
.
First
,
moneys
being
vndervalued
in
exchange
,
Secondly
,
the
moneys
being
Transported
,
taketh
away
the
liuely
course
of
Traffique
of
our
said
Commodities
,
and
causeth
young
merchants
to
Runne
by
exchanges
vpon
Bills
to
maintaine
their
Trade
,
paying
great
Interest
for
money
,
which
they
cannot
take
vp
at
Vse
vpon
their
single
Bond
,
as
they
can
doe
by
a
Bill
of
exchange
,
without
Sureties
.
This
causeth
the
said
young
Merchants
and
others
to
make
rash
Sales
of
their
Commodities
beyond
the
Seas
,
to
pay
their
Bills
of
exchanges
,
whereby
they
ouerthrow
the
Markets
of
others
,
and
make
them
to
Sell
good
cheape
.
So
on
the
contrary
,
the
Coynes
being
ouer-valued
in
exchange
,
and
also
inhaunced
beyond
the
Seas
,
causeth
the
price
of
forraine
Commodities
to
be
increased
more
then
our
home
commodities
,
and
our
Merchants
are
compelled
of
course
,
to
make
Returne
thereby
.
For
they
cannot
import
those
ouervalued
moneys
,
but
to
their
exceeding
great
losse
;
and
by
exchange
,
they
finde
few
Takers
,
vnlesse
it
be
our
young
Merchants
,
which
doe
consume
their
Estates
by
exchanges
&
Rechanges
:
For
of
the
Three
Essentiall
Parts
of
Traffique
,
we
haue
but
the
vse
of
one
,
which
is
the
buying
of
forraine
Commodities
to
make
Returnes
homewards
,
and
doth
increase
the
consumption
of
the
said
Wares
.
Moneys
remaining
hereby
plentifull
beyond
the
Seas
,
the
rather
for
that
they
make
Bills
obligatory
,
serue
as
ready
Money
,
which
they
Transferre
and
set
ouer
betweene
man
and
man
for
the
paiment
of
Moneys
or
Wares
▪
causeth
there
a
liuely
course
of
Trade
,
whereby
their
Commodities
are
aduanced
in
price
&
sale
,
neither
are
they
compelled
to
sel
them
,
but
at
their
price
,
because
they
finde
money
at
interest
at
5.
and
6.
in
the
hundred
.
This
money
is
made
daily
more
plentifull
,
by
our
Spanish
Merchants
,
which
doe
diuert
the
Realls
of
Spaine
,
as
before
hath
beene
declared
:
hence
it
proceedeth
,
that
our
home
Commodities
,
are
many
times
sold
better
cheape
beyond
the
Seas
then
here
;
for
although
Merchants
doe
lose
thereby
,
they
make
account
to
gaine
more
,
by
the
low
exchange
,
deliuering
their
moneys
there
,
or
taking
of
them
vp
here
by
exchange
,
to
pay
their
Bills
of
exchange
at
an
vndervalue
:
insomuch
,
that
many
Merchants
hauing
no
Commodities
there
,
may
take
vp
money
here
,
and
sending
ouer
the
same
in
specie
,
will
pay
therewith
For
the
Commodities
beyond
the
Seas
,
are
●…n
the
hands
of
them
that
make
sale
of
them
,
vpon
a
certaine
price
(
as
it
were
)
at
their
pleasure
,
hauing
Plenty
of
money
,
and
at
cheape
Rate
at
interest
,
whereas
also
they
haue
no
man
●…o
vndersell
them
,
here
and
there
,
as
our
Merchants
Concerning
other
Commodities
imported
,
As
Wines
,
Raisons
,
Corints
,
Tobacco
,
and
Spices
of
the
East
Indies
:
Let
vs
briefely
obserue
,
that
the
Wines
of
France
might
be
bought
better
cheap
,
if
the
money
of
the
Realme
were
not
quart
d'escu
now
paied
for
16.
Soulx
and
aboue
,
was
then
but
15.
Soulx
,
for
which
we
gaue
here
(
accompting
4.
to
the
Crowne
of
Siluer
)
69.
pence
and
thereabouts
,
and
now
72.
pence
and
aboue
.
And
besides
that
,
more
of
our
natiue
Commodities
were
vented
with
better
profit
,
according
to
th'
exchange
;
for
the
Rule
is
,
that
the
lesse
of
Starlin
money
wee
doe
reckon
in
exchange
with
them
,
the
more
is
the
Gayne
of
our
Commodities
.
The
like
may
be
applyed
for
the
Trade
of
Corints
,
which
is
now
prouided
by
other
means
.
But
the
limitation
to
restraine
all
men
from
importing
them
,
then
onely
those
of
the
Leuant
company
,
maketh
no
free
Trade
of
this
Commodity
,
nor
other
the
like
.
The
immoderate
Vse
of
that
weede
Tobacco
Perpetuanoes
,
Bayes
,
Sayes
,
and
other
our
home
Commodities
to
benefite
,
which
before
were
sold
to
losse
,
to
haue
moneys
to
buy
this
Tobacco
,
that
the
Spaniard
did
say
,
Todo
te
pagara
in
humo
,
All
shall
be
paid
with
smoake
.
The
fourth
cause
of
the
want
of
Money
in
England
,
is
(
as
the
said
Authour
saith
)
The
great
want
of
our
East
India
stocke
here
at
home
,
which
he
tearmeth
the
especiall
Remote
Cause
;
whereas
most
men
would
haue
expected
that
the
ready
moneys
sent
in
Realls
of
Plate
to
make
the
employment
of
the
said
Trade
,
would
rather
haue
beene
mentioned
.
My
meaning
is
not
to
become
a
Trapezuntian
Flatterer
.
For
Aesops
Moral
,
That
the
Lyon
could
not
be
healed
without
the
Ap●…
A
Table
.
Herodot
,
in
Cl●…o
.
Liuer
:
that
is
,
Princes
can
not
be
safe
without
the
destruction
of
flatterers
:
remaineth
still
fresh
in
memory
;
but
in
fauour
of
truth
and
Policy
,
I
am
resolued
to
deliuer
my
plaine
and
sincere
opinion
,
concerning
the
said
Trade
,
which
began
with
vs
in
England
immediately
after
the
great
Iubile
yeare
,
1600.
If
the
Discourse
made
of
the
Trade
from
England
into
the
East
Indies
be
truely
collected
,
no
For
if
Pepper
doe
but
cost
two
pence
halfe-penny
the
pound
in
the
Indies
,
and
that
tenne
shillings
imployed
therein
will
require
but
35.
shillings
for
all
charges
whatsoeuer
to
deliuer
it
in
London
;
where
it
is
vsually
sold
for
aboue
20.
pence
:
It
followeth
by
consequence
,
that
there
must
be
a
very
great
gaine
,
which
will
increase
,
when
the
said
parties
shall
be
vnited
in
true
Loue
,
and
buy
the
said
Commodities
better
cheape
;
and
so
proportionably
for
all
other
Spices
,
drugges
,
silkes
,
Indicoes
and
Callicoes
.
Againe
,
if
one
hundreth
thousand
pounds
in
money
exported
,
may
import
the
value
of
500.
thousand
pounds
Starlin
in
wares
or
Commodities
:
albeit
England
do
not
spend
aboue
120.
thousand
pounds
,
and
380.
thousand
pounds
is
exported
vnto
diuers
forraine
parts
,
and
there
sold
for
ready
money
with
great
advantage
.
And
lastly
,
if
the
very
Commmodities
of
the
Realme
exported
into
the
East
Indies
,
will
buy
so
much
as
England
vseth
of
their
Commodities
,
and
the
employment
is
made
for
forraine
Coyne
or
Realls
of
8.
procured
from
other
places
,
what
man
of
vnderstanding
can
iustly
finde
fault
with
that
Trade
?
If
treasure
were
imported
thereby
vnto
vs
,
as
their
finall
end
,
as
the
Discourse
saith
,
but
that
other
Trades
do
diuert
the
same
?
For
when
the
said
Indian
Commodities
are
sent
from
England
into
Turkie
,
Ligorne
,
Genoway
,
the
Low
Countries
,
Marselleis
and
other
places
,
and
are
sold
for
ready
money
:
The
same
is
imployed
againe
vpon
Corints
,
Wines
,
Cotton-Wooll
and
Yearne
,
Galles
and
diuers
other
Commodities
,
wherewith
the
Ships
beeing
reladen
:
yet
a
great
proportion
remaineth
to
be
brought
ouer
in
moneys
,
which
are
diuerted
from
vs
,
by
the
course
of
exchange
in
vndervaluing
our
moneys
,
as
hath
beene
declared
.
The
losse
whereof
is
greater
to
this
kingdome
,
especiall
Reasons
for
the
continance
of
their
East
Indie
Trade
,
which
are
not
to
be
neglected
,
but
are
to
bee
pondered
by
all
Polititians
and
Statesmen
.
1.
Because
the
Right
,
Power
,
and
freedome
2.
For
that
the
reuenge
of
any
iniuries
done
to
the
Hollander
,
may
bee
recompenced
in
those
Countries
;
which
was
heretofore
without
breach
of
Truce
.
3.
For
the
maintenance
of
their
Marriners
and
Shipping
,
of
which
two
,
they
abound
aboue
all
nations
.
4.
For
the
increase
of
Customes
and
meanes
raised
by
the
Buying
of
these
commodities
,
their
Countrey
being
a
Storehouse
for
all
wates
and
merchandizes
.
5.
Because
that
by
the
continuance
of
the
said
Trade
(
although
it
should
prooue
vnprofitable
:
)
They
maintaine
a
certaine
peace
and
assurance
in
the
course
of
their
gouernment
which
consisteth
thereby
.
This
Trade
of
the
Hollanders
for
the
East-Indies
began
vpon
the
Embargoes
made
in
Spain
of
their
goods
and
interruption
of
their
Trade
,
wherein
they
did
associate
themselues
with
the
Germanes
to
disperse
and
vent
their
said
India
commodities
better
and
speedier
.
To
this
Argument
appertaineth
,
the
consideration
of
the
Trades
out
of
Christendome
,
maintained
for
the
most
part
with
ready
moneys
.
As
for
Turkie
and
Persia
,
wherein
the
abundance
of
Siluer
and
Gold
come
into
Europe
,
since
the
West
Indies
were
discouered
,
is
to
be
noted
,
which
hath
made
euery
thing
dearer
according
to
the
increase
of
money
,
which
like
vnto
an
Ocean
,
diuiding
the
Course
into
seueral
branches
in
diuers
Countries
,
hath
caused
a
West
Indies
:
But
we
must
now
measure
things
according
to
the
said
abundance
,
which
is
much
diminished
by
the
continuall
exportation
of
moneys
for
the
East
Indies
from
all
places
of
Traffique
.
The
fifth
Cause
of
the
Want
of
Money
in
England
,
hee
saith
,
are
the
Warres
of
Christendome
,
Imaginary
,
)
wee
haue
●…ready
declared
.
Now
touching
the
exportation
of
monyes
●…y
the
Warres
of
Christians
,
where
he
declareth
〈◊〉
vrgent
instance
:
That
the
Riecks
Doller
,
is
●…ised
(
two
markes
Lubish
making
the
said
Dol●…
:
)
to
twenty
markes
Lubish
in
many
pla●…s
of
Germany
,
whereby
abundance
of
money
〈◊〉
drawen
vnto
the
Mintes
of
those
Countries
,
●…om
all
the
Mines
and
Parts
of
Christendome
:
●…erein
he
is
much
mistaken
;
for
when
moneys
●…e
inhaunced
,
they
neuer
are
carried
to
the
immediate
Cause
by
●…im
first
alleaged
and
treated
of
,
wherein
the
Commodities
are
no
more
Actiue
,
then
Tenderdon
Steeple
in
Kent
,
was
the
Cause
of
the
decay
of
Douer
hauen
.
To
make
this
to
appeare
,
let
vs
note
,
that
this
Rieckx
Doller
being
the
maine
and
most
usuall
Coyne
in
Germany
,
Eastland
,
the
Vnited
〈◊〉
Reconciled
Countries
vnder
both
Gouernme●…
and
many
other
places
,
was
valued
at
2.
ma●…
Lubish
,
euery
marke
being
16.
shillings
Lub●…
or
16.
Stiuers
;
for
in
the
yeare
1575.
the
〈◊〉
Doller
was
still
coyned
in
the
Empire
for
〈◊〉
Stiuers
.
And
was
so
currant
by
Valuation
in
〈◊〉
Low
Countries
,
wherby
the
said
shilling
L●…
Stiuers
by
intermissiue
Times
and
Valuati●…
howbeit
at
Stoade
,
Hamborough
and
other
places
in
Germany
,
the
said
Doller
did
remaine
st●…
at
32.
Stiuers
or
two
markes
.
And
as
the
sai●…
Doller
did
inhaunce
in
price
:
so
did
they
coy●…
new
Stiuers
accordingly
,
sometimes
lighte●…
weight
,
and
at
other
times
imbased
by
Allay
〈◊〉
Copper
.
And
yet
in
accompt
,
the
Stiuer
did
a●…
doth
remaine
the
ground
of
all
their
mony●…
Burgondian
Doller
with
the
crosse
of
Saint
Andr●…
coyned
in
the
yeare
1575.
which
is
in
finene●…
tenne
ounces
,
and
twelue
penny
weight
of
fi●…
siluer
,
and
foure
and
one
halfe
of
these
Dollers
,
were
there
made
equiualent
to
our
20.
shillings
Starlin
,
as
a
Publike
measure
in
exchange
be●…weene
vs
,
and
the
Low
Countries
,
Germany
,
and
all
other
places
where
this
Doller
was
cur●…ant
,
which
made
the
Par
or
price
of
exchange
●…o
be
24.
of
their
shillings
,
for
20.
shillings
of
●…ours
,
according
to
which
computation
,
exchanges
were
made
,
alwaies
aboue
that
price
,
both
here
and
beyond
the
seas
;
and
the
Stiuer
of
the
Lowe
Countries
was
not
in
value
answerable
thereunto
,
for
being
but
two
ounces
17.
pence
with
fine
,
their
32.
Stiuers
for
the
said
Doller
,
(
which
is
foure
pieces
and
one
halfe
144.
Stiuers
:
)
did
not
containe
so
much
fine
siluer
in
them
,
as
the
said
Doller
proportionably
.
But
there
wanted
aboue
3.
shillings
Flemish
in
the
pound
of
20.
shillings
Starlin
.
These
Dollers
haue
since
beene
imitated
and
made
by
the
States
of
the
vnited
Low
Prouinces
in
their
seuerall
Mintes
,
as
also
by
the
Archduke
Albertus
in
the
reconciled
Provinces
.
And
the
price
of
them
at
Hamborough
,
Stoade
,
and
other
places
was
inhaunced
but
one
Stiuer
:
that
is
to
say
,
at
thirty
three
Stiuers
,
where
the
said
Dollers
,
went
in
the
Low
Countries
by
valuation
for
45.
Stiuers
in
the
yeare
,
1586
,
at
which
time
the
Par
of
exchange
was
found
to
bee
twenty
foure
shillings
nine
pence
for
those
parts
,
and
for
the
Low
Countries
at
thirty
three
shillings
4.
pence
;
which
was
so
agreed
vpon
to
our
disadvantage
,
for
according
to
the
saide
4●…
Dollers
,
at
forty
fiue
Stiu●…rs
,
it
maketh
thirty
three
shilling
nine
pence
;
but
our
twenty
shillings
valued
at
tenne
Stiuers
for
the
shilling
,
was
the
caus●…
that
it
was
put
to
thirty
three
shillings
four●…
pence
.
My selfe
being
there
,
a
Commissione●…
appointed
by
the
Councell
Table
,
with
Sir
Richard
Martin
Knight
,
and
Monsieur
Ortell
,
Mo●…sieur
Coase
,
and
Monsieur
Valcke
,
Commissioners
for
the
States
of
the
vnited
Prouinces
.
This
Doller
is
since
that
time
inhaunced
t●…
This
Doller
is
likewise
since
that
time
,
more
inhaunced
in
Germany
from
time
to
time
,
and
Ualuation
of
Hamborough
,
where
it
hath
beene
at
fifty
foure
Stiuers
the
Doller
,
which
maketh
the
exchange
aboue
forty
shillings
of
their
money
for
our
twenty
shillings
.
And
although
we
haue
raised
the
price
of
exchange
from
twenty
foure
shillings
nine
to
thirty
fiue
shillings
or
thereabours
:
shall
we
rest
here
and
goe
no
further
?
haue
we
reason
to
doe
it
in
part
,
and
not
in
the
whole
,
according
to
iustice
,
equity
,
and
true
Policy
?
And
shall
we
bee
like
a
man
,
that
by
halting
in
iest
,
became
same
in
earnest
?
I
say
againe
,
Absitignorantia
.
Thus
much
Obiter
.
CHAP.
II.
The
Causes
of
the
Decay
of
Trade
in
the
Merchandize
of
England
.
THE
Moneyes
of
Christendome
,
which
haue
their
ebbing
and
flowing
,
doe
shew
their
operation
vpon
Commodities
,
making
by
Plenty
,
the
price
thereof
deare
,
or
by
Scarcity
better
cheape
.
And
on
the
contrary
,
by
exchange
we
finde
that
plenty
of
money
maketh
a
Low
exchange
;
and
the
price
of
monyes
to
fall
in
exchange
:
and
that
Scarcity
of
money
maketh
a
high
exchange
,
and
the
price
to
rise
,
ouerruling
both
the
price
of
moneys
and
Commodities
,
which
beeing
obserued
by
the
great
exchangers
or
Bankerers
;
caused
them
to
inuent
all
the
meanes
to
compasse
the
same
,
and
to
rule
the
course
thereof
at
their
pleasure
,
hauing
the
maine
sea
of
exchanges
,
wherein
the
exchange
of
England
runneth
like
a
Riuer
or
Branche
,
and
is
ouerruled
by
the
generall
Currant
;
which
may
be
preuented
:
for
we
haue
the
head
of
exchange
of
20.
shillings
Starlin
for
the
places
where
most
of
our
Commodities
are
sold
,
which
will
command
all
the
parts
&
members
of
the
body
of
Traffique
,
and
procure
plenty
of
money
,
whereby
the
other
causes
of
the
want
of
monyes
in
England
(
as
the
waste
of
the
treasure
and
the
like
:
)
will
not
be
so
sensible
as
●…ow
they
are
,
especially
when
needfull
Commodities
of
Trade
,
shal
be
imported
from
some
pla●…es
,
which
shall
supply
(
as
in
times
past
)
the
exportation
of
much
money
,
when
the
Commodities
of
Russia
,
being
Tallow
,
Waxe
,
Hides
,
retransported
Wines
,
Corints
,
Raisons
and
the
like
Commodities
.
The
Want
of
Money
there
,
is
the
first
cause
of
the
Decay
of
Trade
,
for
without
money
,
Commodities
are
out
of
request
.
And
when
they
fall
againe
into
Permutation
or
Barter
,
Traffique
is
subiect
to
the
necessity
of
Merchants
,
which
●…endeth
to
the
destruction
of
one
Common-weale
,
and
to
the
inriching
of
an
other
.
And
this
is
effected
by
the
exchange
,
as
the
graue
and
wise
Counsellors
of
State
before
mentioned
,
haue
very
well
obserued
,
whereof
Aristotle
and
Seneca
could
take
no
notice
in
the
infancy
of
Traffique
,
which
maketh
me
to
forbeare
to
alleadge
their
opinions
and
definitions
;
howbeit
Commercium
is
quasi
Commutatio
Mercium
,
which
the
said
Author
would
turne
againe
by
a
change
of
Actiue
,
and
the
Passiue
,
by
approouing
Money
to
bee
the
rule
and
square
,
whereby
things
receiue
estimation
and
price
.
And
yet
commending
the
Commutation
before
Money
was
deuised
to
be
coyned
.
Aristotle
saith
,
That
Action
and
Passion
are
meerely
Relatiues
,
and
that
they
differ
no
more
,
(
Money
)
doth
minister
Spirits
to
the
heart
(
Commodities
,
)
and
the
heart
to
the
Braine
(
Exchange
:
)
so
doth
the
Brayne
exchange
minister
to
the
whole
Microcosme
or
the
whole
Body
of
Traffique
.
Let
the
heart
therfore
by
the
liuer
receiue
his
Tinctured
Chilus
by
his
owne
mouth
and
stomacke
,
and
the
blood
full
of
Spirits
,
shall
fill
all
the
Ueines
,
and
supply
the
want
of
monyes
.
The
easie
course
and
recourse
of
whose
exchange
,
shall
bring
all
things
in
time
,
and
serue
all
mens
turnes
.
For
euen
as
there
are
two
Courses
obserued
of
the
Sunne
:
the
one
Annuall
,
and
the
other
by
dayly
declination
,
rising
and
going
vnder
:
euen
so
must
wee
obserue
in
exchange
two
Courses
,
the
one
according
to
Par
pro
Pari
,
or
value
for
value
:
the
other
rising
and
falling
from
time
to
time
,
as
wee
haue
already
declared
.
The
second
Cause
of
the
decay
of
Trade
,
saith
he
,
is
Vsury
,
meaning
Vsury
Politicke
,
wherein
he
Usury
in
a
Common-wealth
is
so
inherent
,
and
doth
properly
grow
with
the
decay
of
Trade
,
as
Pasturage
doth
increase
,
with
the
decrease
of
Tilling
.
Albeit
in
some
respects
,
Trade
is
increased
by
monyes
deliuered
at
vse
or
interest
vpon
occasions
,
when
the
Vsurer
is
glad
to
finde
a
taker
vp
of
his
monyes
,
and
doth
This
doth
also
much
preuent
,
that
the
Rule
of
Concord
and
Equality
is
not
so
soone
broken
and
ouerthrowne
in
Common-weales
,
some
growing
very
rich
,
and
others
extreame
poore
,
not
able
to
liue
in
their
vocation
:
The
most
pregnant
cause
of
discord
,
causing
many
times
Ciuill
warres
,
as
Cornelius
Tacitus
hath
noted
,
and
appeareth
in
another
Treatise
where
the
operations
The
biting
Vsury
&
intolerable
extortion
committed
by
certen
vncharitable
men
,
commonly
called
Brokers
for
pawnes
,
is
not
to
bee
touched
in
a
word
,
for
this
is
the
only
the
remarkable
sin
,
(
I
meane
extortion
&
oppression
:
)
for
which
the
first
world
was
drowned
,
which
feedeth
vpon
the
sweat
&
blood
of
the
meere
merchanicall
poore
,
taking
40
50.
60.
&
100.
vpon
the
100.
by
the
yeare
:
besides
Bili
money
and
for
feiture
of
the
pawnes
,
when
charitable
persons
haue
offered
aboue
20
yeares
since
,
to
giue
largely
,
and
to
lend
moneys
Gratis
,
as
also
after
10.
in
the
100.
to
supply
by
way
of
pawn-houses
(
by
some
called
Lombards
:
)
the
need
and
occasions
of
the
free
trade
may
seem
impertinent
.
The
third
cause
of
the
decay
of
Trade
he
saith
,
is
,
the
litigious
Law
suits
,
which
as
one
way
they
increase
by
scarsity
of
money
,
which
compelleth
men
to
stand
out
in
Law
for
a
time
,
when
they
cannot
pay
vntill
they
receiue
:
So
another
way
,
when
moneys
are
plentifull
,
men
care
the
lesse
for
money
,
&
pride
causeth
them
to
spend
,
&
to
go
to
law
for
euery
triflle
,
disputing
Delana
Caprina
:
true
it
is
,
that
this
Law
warfare
interrupteth
trade
,
but
to
make
the
same
to
be
one
of
the
efficient
Causes
of
the
decay
of
trade
,
I
cannot
altogither
agree
therunto
:
but
rather
to
the
Remedies
which
shal
be
hereafter
declared
;
albeit
many
men
,
are
vexed
,
imprisoned
&
ouerthrowne
,
hauing
spent
their
time
&
means
in
Law
:
which
might
haue
bin
employed
in
trade
for
the
good
of
the
Common-wealth
&
their
owne
quietnesse
.
I
do
likewise
omit
to
intreat
of
transportation
of
ordnance
&
munition
heretofore
permitted
,
mentioned
by
the
said
author
,
&
now
preuented
in
some
sort
;
neither
was
England
in
the
yeere
,
1588.
in
such
great
distresse
to
be
termed
in
articulo
The
fourth
Cause
of
the
Decay
of
Trade
,
or
neglect
of
Trade
,
is
,
The
admitting
of
forraine
Nations
,
to
fish
in
his
Maiesties
Streames
and
dominions
,
without
paying
any
thing
for
the
same
,
whereby
their
Nauigation
is
wonderfully
increased
,
their
Mariners
multiplied
,
and
their
Countrie
inriched
,
with
the
continuall
labour
of
the
people
of
all
sorts
,
both
impotent
and
lame
,
which
are
set
on
worke
,
and
get
their
liuing
.
Concerning
this
fishing
Trade
:
there
hath
beene
a
continuall
Agitation
aboue
30.
yeeres
to
make
Busses
and
Fisher-boats
,
but
the
Action
is
still
interrupted
,
because
other
Nations
doe
finde
too
great
fauour
and
friends
here
to
diuert
all
the
good
intentions
and
endeuours
of
such
as
(
with
the
Author
of
this
Discourse
)
haue
imployed
their
Time
and
good
meanes
therein
;
for
the
Merchants
Aduenturours
,
the
Companie
of
Merchants
Trading
in
Russia
,
and
the
East-land
Merchants
,
did
also
oppose
themselues
against
it
at
the
Councell
Table
,
and
did
alleage
the
reasons
following
.
-
1.
The
infringing
of
their
Priuiledges
here
and
beyond
the
Seas
.
-
2.
The
Interloopers
aduantage
to
interrupt
their
Trade
vnder
colour
hereof
.
-
3.
The
want
of
meanes
to
make
Returne
,
both
for
Fish
and
Cloth
also
.
-
4.
The
inhauncing
of
the
price
of
forreine
Commodities
.
-
5.
The
preoccupying
of
money
to
the
hinderance
of
Cloth
.
-
6.
The
dissolution
of
the
ioynt
stocke
of
the
Russia
Company
.
-
7.
The
incouragement
of
Strangers
hereupon
to
make
a
Contract
with
the
Russian
Emperour
.
-
8.
The
discouragement
to
vndertake
new
discoueries
.
-
9.
The
defraying
of
the
Charge
of
Embassadours
and
other
extraordinarie
Charges
for
honour
of
the
State
.
-
10.
The
plenty
of
Fish
,
which
those
Countries
haue
from
time
to
time
,
and
some
other
Reasons
.
So
that
in
conclusion
,
England
(
by
their
saying
)
cannot
maintaine
the
Sea
Trade
and
the
Land
Trade
together
;
neither
do
they
make
account
to
make
Returne
in
money
,
knowing
that
they
should
lose
more
thereby
,
then
by
the
exchange
of
those
Countries
,
or
by
Commodities
.
And
albeit
that
all
the
premisses
may
bee
moderated
without
hinderance
to
the
said
Companies
:
neuerthelesse
such
is
the
condition
of
some
Merchants
,
not
vnderstanding
the
Mysteries
of
exchange
,
and
ouer-ruling
others
by
their
order
of
Antiquitie
in
their
Society
:
that
neither
Reason
or
experience
can
preuaile
;
insomuch
,
that
whereas
other
Princes
take
their
Duties
of
other
Nations
for
fishing
,
and
fish
themselues
also
by
their
Subiects
:
yet
England
cannot
resolue
to
doe
the
like
,
or
at
least
take
order
for
the
said
Duties
.
In
Russia
many
leagues
from
the
Maine
,
Fisher-men
The
King
of
Denmarke
doth
the
like
,
and
taketh
great
Tribute
,
both
at
Ward-house
and
the
Sound
.
The
King
of
Sweden
in
like
manner
,
and
the
said
King
of
Denmarke
now
for
the
Kingdome
of
Norway
.
All
the
Bordering
Princes
of
Italy
doe
take
Taxes
vpon
fish
within
the
Mediterranian
Seas
.
The
like
Taxe
is
taken
by
the
Duke
of
Medina
Sidonia
for
Tunny
in
the
Spanish
Seas
.
The
States
of
the
Vnited
Prouinces
doe
take
an
imposition
vpon
fish
,
which
is
taken
within
the
Streames
,
and
Dominions
of
other
Princes
.
The
Hollanders
doe
allow
the
Tenth
fish
,
both
in
Russia
,
Lappia
and
other
places
,
or
pay
a
Composition
for
the
same
;
as
also
moreouer
a
Tribute
in
the
Sound
for
passage
,
to
fetch
the
said
fish
.
And
of
mine
owne
knowledge
,
I
am
assured
,
they
would
willingly
haue
paid
the
same
vnto
England
,
or
a
good
composition
for
it
,
had
not
the
greedy
lucre
of
some
persons
hindered
the
same
.
These
exemplary
Actions
haue
long
determined
Communitie
or
freedome
of
the
Seas
,
which
is
acknowledged
to
be
so
,
for
Nauigation
,
without
that
the
same
doth
any
manner
of
way
preiudice
the
Distinct
Dominions
of
the
Seas
of
all
Princes
concerning
fishing
;
that
is
to
say
,
the
fishing
Trade
.
So
that
it
is
superfluous
to
alleage
the
opinions
of
Orators
and
Poets
about
the
fishing
heretofore
in
the
Mediterranian
Seas
,
neither
doth
it
belong
to
this
place
to
cite
the
Determinations
of
the
learned
Ciuilians
which
are
mentioned
in
the
Treatise
De
Dominio
Maris
.
For
the
matter
hath
beene
learnedly
handled
at
the
Councell
Boord
,
before
the
Graue
Senators
,
many
yeeres
since
,
by
our
Ciuilians
and
others
,
which
(
to
auoid
prolixitie
)
I
doe
omit
.
Now
from
the
Fishing
we
are
come
to
Clothing
or
Drapery
of
the
Kingdome
,
and
the
It
cannot
be
denied
,
but
that
the
Drapery
of
forraine
Nations
(
not
only
the
making
of
Cloth
in
the
Low
Countries
,
but
o●…
late
yeere●…
in
Italy
and
Spaine
also
:
)
the
Trade
of
Cloth
〈◊〉
much
diminished
,
both
in
the
number
made
,
and
in
the
price
thereof
,
which
is
a
Canker
to
the
Common-wealth
.
But
this
is
not
to
bee
cured
by
abating
the
price
of
our
Cloth
continually
(
as
it
were
)
striuing
to
our
vndoing
,
to
vndersell
other
Nations
;
for
Satan
cannot
cast
o●…
Accidents
of
great
Warres
doth
hinder
the
same
:
wherein
wee
are
to
note
two
principall
points
.
First
,
that
other
Nations
(
buying
heretofore
Secondly
,
that
other
Nations
are
as
willing
to
sell
vnto
vs
their
forraine
Commodities
,
as
we
can
be
to
sell
our
Clothes
to
them
;
for
those
that
make
Clothes
in
their
Countries
,
haue
no
occasion
to
buy
forraine
Wares
,
or
the
Commodities
of
others
,
but
seeke
to
sell
them
for
ready
money
,
or
to
bee
payed
at
some
times
:
whereby
England
hath
a
great
aduantage
,
and
may
enioy
the
benefit
of
it
,
in
selling
their
Cloth
with
Reputation
,
which
is
euer
accompanied
with
Request
,
and
causeth
Commodities
to
be
sold
at
good
rates
;
whereas
vilifying
the
price
of
Wares
,
can
neuer
establish
a
Trade
,
and
make
Commodities
more
vendible
;
for
this
course
is
violent
,
and
Nullum
violentum
perpetuum
.
And
in
this
place
it
may
bee
thought
conuenient
Canker
of
Englands
Common-wealth
,
wishing
the
amendment
of
the
aboue
said
fault
,
That
our
Cloth
might
be
sold
at
so
deere
a
Rate
,
and
according
to
the
price
of
forraine
Commodities
,
that
thereby
other
Nations
,
should
take
vpon
them
,
to
make
our
Cloathes
.
And
the
Remedie
is
added
,
by
selling
our
Woolles
deerer
,
whereof
they
must
make
them
;
for
in
those
dayes
of
the
latter
Time
of
Queene
Elizabeth
of
blessed
memory
,
and
vntill
the
second
yeere
of
our
most
Gracious
Lord
King
Iames
,
Wools
were
permitted
to
be
Transported
by
the
Staplers
and
others
.
And
the
makers
of
Cloth
beyond
the
Seas
,
must
needs
haue
them
to
couer
their
Woolles
in
the
Indraping
,
which
is
now
prohibited
,
and
the
Case
is
altered
:
herevpon
this
Moderne
Merchant
out
of
his
deepe
Speculation
;
saith
,
which
seemes
to
haue
in
it
,
much
more
Dutch
then
English
,
to
depriue
this
Kingdome
of
so
Royall
a
Manufacture
,
whereby
so
many
thousands
of
poore
Families
are
maintained
:
imitating
herein
the
Butchers
flye
,
byting
vpon
one
place
,
which
seemeth
to
bee
ga●…ld
,
as
he
saith
,
and
leauing
all
the
found
body
vntoucht
.
For
my
Writings
which
are
extant
Romans
Belizarius
,
alledged
by
the
said
Author
;
for
Enuie
(
looking
asquint
,
as
if
shee
were
borne
vnder
Saturne
:
)
hauing
depriued
mee
of
the
sight
of
one
eye
with
forraine
Nations
;
doth
now
endeauour
to
make
mee
blinde
,
to
bring
me
to
say
,
Date
obulum
Belizario
,
quem
inuidia
,
non
culpa
caecauit
.
The
like
part
shee
plaid
with
me
,
for
the
inuention
of
Farthing
tokens
,
by
accusation
,
that
there
was
an
intention
to
bring
the
vse
of
Copper
moneys
within
the
Realme
;
which
Tokens
are
found
to
bee
very
commodious
and
necessary
,
whereby
the
waste
of
much
Siluer
is
preuented
,
the
meere
poore
releeued
,
and
many
of
their
liues
saued
,
and
the
Common-wealth
cannot
be
without
them
,
vnlesse
Leaden
Tokens
were
made
againe
in
derogation
of
his
Maiesties
Praerogatiue
Royall
.
Wise
men
haue
noted
,
that
the
due
obseruation
of
vertue
,
maketh
a
Stranger
grow
naturall
in
a
strange
Countrie
,
and
the
vicions
a
meere
Stranger
in
his
owne
natiue
Soile
:
and
to
their
iudgements
I
shall
alwaies
appeale
with
the
diuine
assistance
,
and
also
pray
for
Unitie
and
Concord
where
none
is
,
especially
where
the
Spirits
of
neighbour
friends
should
be
vnited
by
true
Religion
to
make
Iustice
flourish
;
to
which
end
,
Wisdome
doth
construe
things
in
the
best
Sense
For
if
they
had
with
Patroclus
put
on
Achilles
Armour
,
and
rid
on
his
Horse
,
and
durst
Achilles
Speare
doth
both
wound
and
heale
,
as
his
did
,
and
like
vnto
the
water
of
Dodona
,
both
extinguish
and
lighten
Torches
,
whose
continuall
〈◊〉
&
〈◊〉
〈◊〉
to
work
forcibly
.
iXres
,
A
Steppe
,
〈◊〉
〈◊〉
〈◊〉
〈◊〉
〈◊〉
.
To
distribute
.
vigilant
care
by
many
Nocturnall
Lucubrations
,
hath
no
need
to
bee
remembred
by
the
sight
of
his
Subiects
bloud
in
sheetes
,
written
within
and
without
,
proceeding
of
〈◊〉
〈◊〉
〈◊〉
〈◊〉
〈◊〉
a
Reuenging
eye
.
Returning
to
the
Cloth
Trade
and
the
Clothier
,
with
a
consideration
of
the
merchants
Aduenturours
,
Eastland
merchants
,
Russia
Merchants
and
others
,
and
the
Wooll
Grower
,
or
the
Gentleman
;
let
vs
carefully
obserue
them
in
particular
and
in
generall
,
supposing
their
complaints
were
all
heard
at
one
instant
together
,
as
also
diuidedly
,
whereby
Truth
doth
better
appeare
by
obseruing
their
Pollicies
,
partly
declared
in
the
neglect
of
the
fishing
Trade
.
The
merchants
Aduenturours
hauing
ingrossed
into
their
hands
by
colour
of
their
last
Letters
Patents
,
The
sole
Power
of
exporting
all
Holland
,
Zealand
,
Brabant
,
and
other
parts
of
the
low
and
higher
Germany
,
hath
abated
the
Trade
.
For
all
Merchants
Strangers
,
might
and
did
heretofore
export
white
Clothes
out
of
the
Kingdome
,
paying
double
Custome
,
which
they
now
may
not
.
The
Merchants
of
the
Staple
,
from
all
the
Staple
Ports
,
As
London
,
Westminster
,
Brist●…l
,
South-hampton
,
Hull
,
Boystone
,
and
New-castle
,
haue
heretofore
exported
,
either
Cloth
or
Wooll
,
or
both
,
which
now
they
may
not
.
All
other
Merchants
at
large
,
as
well
at
London
,
as
of
all
other
parts
of
the
Kingdome
haue
vsually
heretofore
exported
,
coloured
Clothes
,
Kersies
,
Bayes
,
Sayes
,
Serges
,
Perpetuanoes
,
&c.
which
now
they
may
not
.
So
that
all
the
Trade
of
the
Merchants
of
the
Staple
,
of
the
merchant
Strangers
,
and
of
all
other
English
Merchants
,
concerning
th'
exportation
of
all
the
Commodities
made
of
Wooll
into
those
Countries
,
where
the
same
are
especially
to
bee
vented
,
is
in
the
Power
of
the
Merchants
Aduenturours
only
;
and
it
is
come
to
be
managed
by
40.
or
50.
persons
of
of
that
Company
,
consisting
of
three
or
foure
thousand
.
Nay
one
man
alone
,
hath
compassed
into
his
hands
,
the
whole
Trade
of
coloured
Clothes
and
Kersies
for
these
parts
,
by
the
meanes
of
exchanges
,
and
moneys
taken
vp
at
Interest
.
It
is
impossible
that
the
same
number
with
the
same
ability
,
can
manage
the
same
Trade
,
to
the
best
profit
in
Times
of
warres
,
as
in
Times
of
Peace
:
Then
much
lesse
can
a
lesser
number
,
with
lesser
abilitie
manage
a
greater
Trade
,
in
most
Troublesome
times
,
especially
if
they
haue
borrowed
50.
or
60.
thousand
pounds
at
vse
,
for
the
seruice
of
the
Company
,
and
thereby
engaged
the
Trade
,
and
set
themselues
in
debt
;
which
causeth
many
of
the
best
merchant
Aduenturours
to
giue
ouer
Trade
,
and
are
become
purchasers
,
or
lenders
of
money
at
Interest
.
Many
others
of
them
haue
engaged
themselues
in
the
East
Indian
Company
,
which
did
carry
away
their
money
,
and
left
the
Cloth
.
This
small
number
to
manage
so
great
a
Trade
The
Trade
thus
limited
to
a
small
number
of
a
Company
,
residing
for
the
most
part
at
London
,
is
a
generall
preiudice
to
the
whole
Kingdome
,
which
though
it
haue
made
London
rich
,
it
hath
made
all
the
Ports
and
other
parts
of
the
Kingdome
poore
;
for
it
enforceth
needlesse
and
chargeable
carriage
and
Recarriage
of
diuers
Commodities
,
whereby
they
are
endeared
vnto
vs
,
and
it
hinders
all
the
Ports
(
being
the
Walls
of
the
Kingdome
)
from
hauing
either
forraine
or
domesticke
Commodities
brought
vnto
them
at
the
best
hand
,
which
causeth
them
to
be
almost
desolate
and
forsaken
:
and
it
hindereth
the
Clothiers
and
new
Drapers
(
which
dwell
in
remote
parts
:
)
from
selling
their
Cloth
and
Stuffes
at
their
next
adioyning
Ports
,
for
how
can
they
sell
,
when
there
are
no
Merchants
?
It
causeth
all
Chapmen
to
giue
poore
and
faint
prices
for
Wooll
,
because
when
it
is
indraped
,
it
may
not
more
freely
be
exported
to
the
best
aduantage
.
So
that
the
Grower
is
hindred
in
the
price
of
his
Wooll
,
for
euery
losse
and
preiudice
that
comes
vpon
cloth
and
the
Clothier
,
Shall
this
be
Proclamed
a
Free
Trade
,
when
within
our selues
,
we
are
in
Bondage
,
and
haue
lost
the
benefit
of
the
Two
essentiall
Parts
of
Trafficke
,
namely
the
Rule
of
money
and
exchanges
?
Let
euery
man
iudge
.
To
say
nothing
of
the
dependances
of
Trade
,
as
the
increase
of
Nauigation
and
Nauigators
,
when
Merchants
heretofore
had
more
freedome
,
and
the
Ports
were
furnished
and
frequented
,
with
great
store
of
shipping
;
which
although
they
were
but
small
of
burden
:
yet
euery
one
had
their
seuerall
Pilot
and
Mariners
,
which
did
daily
supplie
the
Land
,
with
plenty
of
Sea-men
.
The
Merchants
Staplers
haue
obserued
,
that
the
Merchants
Aduenturers
,
haue
an
ineuitable
opportunity
of
Combination
,
to
set
what
price
they
please
vpon
cloth
to
the
Clothier
,
of
Wooll
to
the
Grower
,
and
of
all
Commodities
exported
and
imported
;
and
likewise
to
lay
what
priuate
impositions
they
please
,
vpon
any
of
the
said
Commodities
,
so
that
whether
they
doe
well
or
ill
for
the
Common-weale
,
there
can
be
no
apparant
triall
:
for
hauing
power
to
barre
all
others
from
Trade
,
but
themselues
,
they
are
like
a
Commoditie
weighed
in
a
Ballance
,
that
hath
but
one
end
,
where
there
can
be
no
Counterpoize
,
and
then
it
seemes
to
bee
great
weight
,
although
it
be
neuer
so
light
.
So
that
this
ingrossing
of
Trade
into
few
mens
Russia
,
Eastland
,
Poland
,
and
other
places
.
For
the
making
of
good
and
true
Cloth
,
many
excellent
Lawes
haue
beene
made
and
enacted
,
especially
in
the
fourth
yeere
of
his
Maiesties
happy
Raigne
;
whereupon
I
haue
heretofore
made
a
Demonstration
which
was
exhibited
to
the
Right
Honourable
the
Lords
of
the
Priuie
Councell
,
shewing
the
weight
,
length
and
breadth
of
all
sorts
of
Clothes
,
and
that
Weight
and
Measure
doth
controlle
each
other
,
whereby
the
Merchant
that
buyeth
the
Cloth
,
may
be
enabled
to
finde
out
the
fraud
and
deceit
of
the
Clothier
:
but
this
should
bee
done
before
the
selling
of
them
,
and
that
by
honest
Officers
or
Magistrates
,
according
to
the
said
Acte
,
whereof
our
great
Booke
(
now
vnder
Lex
Mercatoria
or
the
Law
Merchant
,
doth
intreat
of
more
particularly
.
The
eight
cause
of
the
decay
of
Trade
,
is
,
Th'
exportation
Consumption
Money
,
payed
by
the
Retaile
of
Cloth
or
Drapery
,
only
vpon
our
English
Clothes
,
and
not
vpon
Cloth
in
those
parts
,
whereby
their
Cloth
is
more
vented
,
and
English
Cloth
in
lesse
Request
.
Touching
the
exportation
of
Materials
,
there
is
a
prouident
order
taken
.
to
preuent
the
same
in
England
,
by
a
late
direction
and
Proclamation
,
prohibiting
the
exportation
of
Woolls
,
Wooll-fells
,
Wool-yearne
,
Fullers
earth
,
and
Woodashes
.
And
the
like
will
be
done
in
Scotland
;
and
for
the
better
execution
,
there
is
a
Committie
appointed
of
certaine
selected
discreet
persons
vnder
the
great
Seale
of
England
.
The
ninth
Cause
of
the
decay
of
Trade
,
are
the
Warres
in
Christendome
,
as
also
in
other
Countries
out
of
the
same
,
where
our
Cloth
and
Manufactures
haue
beene
transported
,
increased
by
the
daily
losses
sustained
by
Pirats
,
and
continuall
breaking
of
Merchants
and
Tradesmen
;
all
which
is
meerely
Heterocliton
or
opposite
to
Traffique
,
and
they
concurre
all
in
nature
,
to
the
interruption
and
ouerthrowing
of
Trade
;
and
this
can
neuer
be
diuerted
,
preuented
,
nor
remedied
,
by
selling
our
Clothes
or
Manufactures
cheape
,
to
vndersell
other
Nations
,
who
meet
with
the
said
hinderances
and
interruptions
as
well
as
we
doe
,
in
the
Trade
of
the
Clothes
made
by
them
:
But
Time
and
quietnesse
must
be
expected
in
some
measure
.
The
price
of
Wooll
being
fallen
from
33.
shillings
the
Todde
,
to
18.
shillings
and
vnder
,
disimproning
the
Reuenue
of
lands
,
can
neuer
increase
Trade
,
but
impouerish
the
Kingdome
and
all
landed
men
.
Aristotle
saith
,
that
Riches
is
either
Naturall
or
Artificiall
.
The
naturall
Riches
,
as
lands
,
vines
,
forrests
,
meddowes
,
&c.
The
Artificiall
,
as
Money
,
Gold
,
Siluer
,
Cloth
,
and
all
things
metalline
or
mineral
,
and
manufactures
,
proceeding
of
the
Naturall
Riches
.
And
as
both
these
doe
receiue
their
price
and
estimation
by
mony
(
as
the
Rule
and
square
:
)
so
reason
requireth
a
certaine
Equality
betweene
them
in
the
estimation
of
the
value
thereof
,
which
dayly
decreaseth
by
abating
the
price
of
our
Commodities
,
and
for
the
want
of
moneys
;
wherein
some
vnskilfull
merchants
are
much
to
bee
blamed
in
making
inconsiderate
Barters
for
our
Clothes
Protection
of
Princes
in
warres
and
against
the
Pirates
,
is
to
be
maintained
to
preuent
the
decay
of
Trade
.
The
tenth
and
last
Cause
of
the
decay
of
Trade
,
This
caused
some
States
men
in
France
,
to
inuent
meanes
how
the
Trade
might
be
cut
off
,
and
that
no
Commodities
should
be
transported
out
of
the
Realme
,
making
account
,
that
they
could
liue
peaceably
within
themselues
and
very
good
cheape
,
without
giuing
or
receiuing
any
thing
of
other
nations
.
This
was
much
contradicted
by
Monsieur
Bodine
the
great
Polititian
of
France
,
as
is
noted
in
Englands
View
,
who
shewed
that
they
had
neede
of
the
Stranger
,
and
most
especially
of
the
Traffique
with
them
:
Insomuch
,
that
although
they
could
haue
liued
without
them
in
regard
of
Commodities
:
yet
charity
,
humanity
,
and
Policy
willeth
vs
to
maintaine
friendship
with
our
neighbours
,
and
rather
to
giue
them
part
of
our
blessings
,
then
not
to
deale
or
Communicate
with
them
.
True
it
is
,
that
it
cannot
bee
denyed
,
that
if
any
kingdome
vnder
the
Sunne
,
can
subsist
of
it selfe
,
none
hath
more
cause
of
thanksgiuing
vnto
God
,
then
the
Kingdomes
of
Great
Brittaine
and
Ireland
,
so
richly
replenished
with
all
things
seruing
ad
Victum
&
Vestitum
,
for
the
Backe
and
Belly
,
as
we
terme
it
,
not
onely
for
our
owne
maintenance
,
but
also
for
the
supply
of
others
.
But
God
caused
nature
to
distribute
her
benefites
,
or
his
blessings
to
seuerall
Climates
,
supplying
the
barrennesse
of
some
things
in
one
countrey
,
with
the
fruitfulnesse
and
store
of
other
countries
,
to
the
end
that
interchangeably
one
Common-weale
should
liue
with
an
other
.
And
therefore
is
Traffique
and
Trade
so
much
to
bee
maintained
and
defended
,
wherein
all
manner
of
rashnesse
in
the
sale
of
wares
is
to
be
auoided
,
but
by
Policy
to
be
preuented
and
vpholden
,
according
to
the
CHAP.
III.
Of
Gouerned
Trade
,
and
therein
of
Monopoly
.
HITHERTO
(
saith
the
said
Authour
:
)
the
matter
of
Trade
hath
beene
considered
in
Money
and
Merchandize
,
and
the
exchange
of
monyes
is
past
ouer
by
him
,
as
a
matter
not
worthy
the
consideration
:
Essentiall
Parts
of
Traffique
,
and
the
most
operatiue
in
Trade
,
being
the
only
measure
betweene
vs
and
forraine
nations
,
without
which
,
all
his
discourse
is
without
Rime
or
Reason
.
So
that
he
cannot
finde
any
Parity
nor
Purity
in
exchanges
;
like
vnto
a
sicke
body
who
by
reason
of
the
bitternesse
of
his
tongue
,
can
not
relish
.
Monsieur
Bodine
saith
,
that
when
a
man
is
noted
to
be
of
experience
,
and
to
vnderstand
matters
,
wherein
he
is
surpassing
others
:
The
Prouerbe
is
,
Il
entendle
Par
,
he
doth
vnderstand
his
Par
or
Equality
;
which
cannot
bee
applyed
vnto
him
that
doth
not
vnderstand
the
matter
of
exchange
:
for
all
his
arguments
are
fram'd
betweene
Commodities
and
moneys
,
from
whence
this
Syllogisme
may
bee
drawne
against
him
,
to
maintaine
the
vnderualuation
of
our
money
in
specie
.
Nothing
causeth
Merchants
to
export
more
money
out
of
the
Realme
,
then
they
bring
in
:
but
onely
the
bringing
in
of
more
Commodities
into
the
Realme
then
they
carried
out
.
The
vnderualuation
of
our
moneys
,
causeth
no
more
Commodities
to
bee
brought
into
the
Realme
,
then
is
carried
out
:
Ergo
,
the
vnderualuation
of
our
moneys
,
causeth
not
more
money
to
be
carried
out
of
the
Realme
,
then
is
brought
in
.
But
left
this
should
breede
a
Dilemma
,
let
vs
examine
his
words
concerning
exchanges
.
It
is
not
the
Rate
of
exchanges
,
but
the
value
of
Monyes
,
here
low
,
elsewhere
high
,
which
causeth
their
exportation
;
nor
doe
the
exchanges
,
but
the
Plenty
and
Scarcity
of
moneys
cause
their
values
.
There
are
three
waies
to
dissolue
an
argument
,
Deniall
,
Retorting
and
Distinction
.
Deniall
is
too
hostile
,
sauouring
more
of
obstinacy
,
then
of
Arte
;
Retorsion
is
more
witty
,
then
profitable
.
But
Distinction
is
like
to
mature
Remedies
compared
to
Purges
,
which
clense
and
feede
.
Now
the
said
Authour
taketh
the
course
of
Deniall
,
and
prooueth
nothing
.
If
monyes
be
here
low
,
and
elsewhere
high
,
how
is
this
knowen
but
by
the
Valuation
of
exchange
?
intrinsicke
value
,
and
not
according
to
the
extrinsicke
valuation
,
which
is
altered
by
Denomination
;
for
the
name
of
a
thing
doth
not
alter
the
value
Really
,
but
the
substance
doth
it
,
if
it
be
altered
;
much
lesse
doth
Plenty
or
Scarcity
of
monyes
cause
their
values
,
it
being
contrary
to
the
nature
and
properties
of
money
.
The
publike
Measure
,
the
yard
doth
measure
the
Cloth
,
but
the
Cloth
doth
not
measure
the
yard
.
To
illustrate
the
premisses
by
examples
,
I
haue
heretofore
shewed
the
consideration
incident
.
Suppose
that
some
Merchants
Strangers
doe
come
ouer
into
the
Realme
,
to
buy
a
Packe
of
Tenne
Clothes
valued
at
80.
pound
Starlin
,
which
they
are
to
pay
in
Gold
and
Siluer
,
and
yet
they
doe
not
know
,
what
the
Weight
and
finenesse
of
our
Starlin
money
is
,
neither
doth
the
English
Merchants
know
the
weight
and
finenesse
of
the
forraine
Coyne
,
which
they
haue
brought
ouer
:
hereupon
to
content
both
parties
,
the
moneyes
on
either
side
must
bee
tried
by
the
Subtill
Assay
according
to
their
finenesse
,
calculated
vpon
the
pound
weight
of
12.
ounces
Troy
,
and
then
by
Weight
they
answer
each
other
accordingly
;
and
so
this
negotiation
is
(
in
effect
)
but
a
Permutation
of
monyes
for
Commodities
,
before
exchange
was
inuented
.
This
being
not
well
obserued
,
might
cause
men
to
be
deceiued
,
as
the
Pewterer
(
sometime
an
Alderman
of
London
.
)
was
,
who
beeing
vsed
to
change
old
Pewter
for
new
,
taking
a
consideration
for
the
fashion
,
would
take
the
like
course
in
the
buying
of
Siluer
Plate
of
a
Goldsmith
,
deliuering
his
money
by
weight
,
whereby
he
sustained
a
losse
,
because
hee
did
deliuer
him
a
quantity
of
old
groates
,
which
were
lighter
then
their
value
;
as
also
other
Starlin
moneys
,
which
were
worne
out
in
continuance
of
time
,
and
much
vnder
their
true
weight
.
And
boasting
of
his
good
bargaine
,
hee
was
made
to
calculate
what
an
ounce
of
siluer
did
stand
him
,
and
he
found
that
by
thesemeanes
,
he
had
paide
6.
shillings
the
ounce
for
that
,
which
was
offered
vnto
him
for
5.
shillings
,
6.
pence
.
Faller●…
fallentem
non
est
fraus
.
The
lightnesse
of
this
Pewterers
money
may
be
compared
to
the
low
exchange
in
the
vnderualuation
of
our
moneys
,
by
exchange
;
for
if
a
Merchant
Stranger
did
bring
ouer
money
in
specie
at
this
time
,
to
buy
Commodities
within
the
Realme
,
and
deliuer
the
same
here
according
to
the
very
value
in
payment
by
the
Assay
;
and
thereupon
doe
looke
backe
how
his
mony
is
ouerualued
in
regard
of
the
exchange
,
wherby
he
might
haue
made
ouer
the
same
by
a
bill
of
exchange
:
he
shall
finde
a
farre
greater
losse
then
the
Pewterer
did
,
not
of
6.
pence
in
an
ounce
,
but
aboue
nine
pence
in
euery
ounce
of
Siluer
.
Great
are
the
gaines
to
be
made
by
exchanges
,
without
euer
to
deale
or
meddle
with
any
Commodities
at
all
.
I
know
that
to
the
iudicious
Merchants
;
I
haue
giuen
cause
of
offence
,
to
haue
written
so
much
in
the
defence
of
exchange
;
But
knowing
that
many
graue
and
discreete
persons
haue
giuen
ouer
this
Princely
Study
,
imagining
therein
Italy
,
Germany
,
France
,
Spaine
,
The
Low
Countries
,
Eastland
,
Poland
,
and
other
places
,
at
large
declared
in
my
booke
,
Lex
Mercatoria
;
seruing
all
Societies
and
Companies
of
Merchants
to
bee
mindfull
of
the
Common
Wel-fare
,
wherein
Master
Hussey
Gouernour
of
the
Merchants
Aduenturers
company
in
the
beginning
of
Queene
Elizabeths
Raigne
tooke
great
paines
with
others
,
To
finde
and
establish
the
True
Par
of
exchange
,
which
was
examined
and
altered
Concerning
the
gouernment
of
Trade
,
wee
haue
noted
heretofore
,
that
in
all
Traffiques
,
the
generall
doth
gouerne
the
particular
.
Some
would
haue
other
nations
to
come
to
buy
the
Commodities
of
vs
,
within
the
Realme
,
for
,
say
they
,
Will
you
buy
?
and
will
you
sell
?
These
men
haue
no
consideration
of
the
maintenance
of
nauigation
,
which
is
the
greatest
strength
of
the
Realme
,
whose
defence
(
next
vnder
God
)
consisteth
most
of
Ships
and
well
experienced
Marriners
.
Whereas
also
the
transporting
of
our
Cloth
to
certaine
places
,
causeth
other
nations
to
resort
thither
to
buy
them
,
which
may
bee
more
properly
called
to
be
,
Will
you
sell
?
Seeing
that
those
nations
doe
bring
their
owne
Commodities
vnto
our
Merchants
to
the
places
by
them
appointed
,
as
Delf
and
Hamborough
;
which
is
(
in
effect
)
asmuch
as
Will
you
buy
?
And
would
not
this
be
,
Will
you
buy
?
if
in
a
dispersed
and
stragling
manner
,
our
Cloth
were
carried
to
all
markets
beyond
the
seas
in
seuerall
places
;
which
would
take
away
the
desire
of
buying
:
for
he
that
buyeth
,
doth
it
in
hope
of
gaine
to
be
had
in
places
where
he
intendeth
to
carry
the
Commodities
,
which
Commodities
if
hee
knoweth
to
bee
extant
in
most
places
to
bee
vented
,
will
quench
his
desire
of
buying
:
and
hee
that
commeth
to
barter
other
Commodities
for
ours
,
hath
the
like
consideration
.
But
let
vs
admit
,
that
our
Cloth
would
bee
aduanced
in
price
,
when
men
(
should
by
multitudes
)
run
to
the
markets
,
or
into
the
countrey
in
al
places
to
buy
it
:
what
would
be
the
euent
of
it
?
It
would
not
onely
bee
solde
beyond
the
seas
with
a
smaller
gaine
and
many
times
to
losse
(
we
being
naturally
to
make
speedy
returne
:
)
but
we
should
also
pay
dearer
for
the
forraine
Commodities
,
which
wee
should
obtaine
by
way
of
Permutation
,
or
for
the
Billes
obligatory
of
the
Merchants
to
whom
wee
sell
our
Cloth
:
and
if
our
Merchants
were
cut
off
,
and
that
other
nations
should
buy
the
Cloth
within
the
Realme
,
and
so
aduance
the
price
thereof
:
(
as
it
happeneth
most
commonly
in
France
and
Spaine
at
the
Vintage
time
with
their
Wines
&
Raisons
:
)
Then
forraine
Commodities
would
be
sold
dearer
vnto
vs
by
them
againe
:
for
the
small
gaine
had
vpon
our
Commodities
causeth
vs
,
and
would
cause
them
to
seeke
a
better
gaine
vpon
the
forraine
Commodities
to
the
generall
hurt
.
Others
would
haue
all
things
at
large
in
the
Monopolies
,
)
but
that
by
way
of
partnership
Merchants
might
associate
themselues
,
according
to
the
manner
of
some
other
Countries
:
These
men
haue
no
regard
,
that
innouations
are
as
dangerous
,
as
to
remooue
the
corner
stones
of
a
building
;
neyther
doe
they
obserue
a
momentary
difference
betwixt
the
Gouernment
of
a
Monarchy
,
and
that
especially
in
an
Iland
:
and
the
gouernment
of
a
Democracy
which
is
popular
,
or
of
an
Aristocracy
,
which
is
gouerned
by
the
better
sort
of
the
people
;
these
seeking
by
all
meanes
to
make
their
Countries
populous
by
the
inhabiting
of
all
nations
for
the
increase
of
their
meanes
collected
by
impositions
and
Aczises
,
and
that
vpon
all
things
consumed
and
most
vpon
victuals
;
the
other
,
namely
the
Monarchy
,
auoiding
asmuch
as
they
can
,
the
multitude
of
forraine
nations
to
inhabite
within
their
gouernment
,
and
holding
impositions
and
Taxes
to
bee
done
with
great
aduisement
.
And
that
the
ouerballancing
of
forraine
Commodities
with
the
natiue
Commodities
may
be
preuented
;
which
by
the
other
is
not
regarded
,
neither
can
it
bee
by
them
obserued
.
The
Prouidence
of
the
State
hath
also
a
great
consideration
in
the
course
of
Trade
,
vnder
gouernment
in
appointed
places
,
especially
in
that
of
the
Merchant
Aduenturers
company
,
(
who
haue
the
managing
of
the
creame
of
the
land
,
the
maine
Trade
of
the
kingdome
,
and
doe
expose
to
aduenture
the
greatest
part
of
the
wealth
therof
with
forraine
nations
in
trouble
.
some
times
of
wars
:
)
because
they
may
by
this
order
be
soone
remooued
or
called
home
vpon
occasion
,
which
cannot
be
done
conueniently
otherwise
:
where
there
is
no
vigilant
eye
to
take
care
for
the
generall
wealth
of
the
Realme
,
for
no
nation
of
Christendome
Traffiques
so
much
in
Bulke
of
Staple
Commodities
,
as
the
Realme
of
England
;
which
Boters
(
though
altogether
Spanish
in
times
past
,
and
no
friend
to
England
)
confesseth
,
that
two
yeares
before
the
taking
of
Andwarpe
,
all
the
wares
of
Christendome
being
But
we
must
not
seeme
to
flatter
Companies
or
Societies
,
when
it
is
found
that
they
deale
vnaduisedly
,
or
that
by
their
meanes
,
things
are
out
of
order
in
the
course
of
Trade
;
for
then
the
Kings
authority
or
the
Royall
Merchant
of
great
Brittaine
,
must
be
the
true
Palynurus
,
and
sit
at
the
Rudder
of
the
Ship
of
Traffique
,
to
reforme
abuses
.
For
a
Society
may
become
to
be
A
Monopoly
in
effect
,
when
some
few
Merchants
To
make
a
Definition
of
a
Monopoly
,
we
neede
The
Restraint
of
the
freedome
of
commerce
to
some
one
or
few
,
and
the
setting
of
the
price
,
at
the
pleasure
of
one
or
few
;
to
their
priuate
benefits
,
and
the
preiudice
of
the
Common-wealth
.
And
as
this
may
be
done
by
authority
,
so
may
the
abouesaid
course
also
be
committed
vnder
the
color
of
authority
by
the
Princes
grant
or
letters
Patents
.
Commendable
is
the
custome
of
the
City
of
Norenborough
in
Germany
,
where
to
maintaine
the
people
on
worke
,
they
receiue
all
their
manufactures
and
pay
them
weekely
,
&
afterward
sell
them
for
a
reasonable
profit
,
which
therby
become
dispersed
in
all
countreys
;
whereby
they
haue
made
a
great
Trade
for
the
West
Indies
,
&
they
maintaine
therby
their
Common-wealth
as
an
Aristocratick
gouernment
:
and
this
is
neither
A
Monopoly
,
nor
properly
An
engrossing
,
beeing
done
by
publike
authority
.
Such
therefore
as
sel
the
Commodities
of
the
Realme
vnto
forraine
nations
with
aduantage
of
priuate
benefite
,
(
albeit
within
the
Compasse
of
a
Monopoly
:
)
are
more
to
be
tolerated
then
those
that
vndersell
the
Commodities
of
the
kingdome
,
and
procure
their
Gaines
by
the
Commodities
of
other
nations
to
bee
solde
deare
within
the
Realme
.
Here
I
call
to
mind
our
former
obseruation
of
that
Royall
Commodity
Tinne
,
which
aboue
Corints
,
Leuant
Wines
,
Spices
,
and
Indicoe
(
at
deare
rates
:
)
vsed
all
meanes
to
suppresse
the
rising
thereof
:
which
caused
forraine
nations
to
fall
into
consideration
thereof
,
and
vsing
meanes
to
incorporate
the
same
,
it
brought
that
Commodity
in
estimation
againe
.
And
the
saide
Praeemption
was
reestablished
againe
,
which
hath
aduanced
the
price
to
double
the
rate
;
whereby
the
stocke
or
wealth
of
the
kingdome
,
hath
beene
since
increased
600.
thousand
pounds
Starlin
,
and
his
Maiestie
hath
receiued
for
his
benefite
.
150.
In
like
manner
the
sole
importation
of
Spanish
Tobacco
,
doth
gaine
and
saue
the
kingdome
many
thousand
pounds
yearely
.
For
Bayes
,
Sayes
,
Perpetuanoes
,
and
the
like
Commoditiet
,
Virginia
and
Bermodaes
Plantation
:
the
like
may
bee
practised
vpon
other
Commodities
,
without
incurring
the
inconuenciences
of
Monopolie
.
Concerning
Companies
or
Societies
to
deale
in
a
ioynt
Stocke
or
apart
:
it
may
bee
thought
East
Indies
and
Persia.
And
albeit
that
some
would
haue
the
same
to
be
only
outward
in
the
employment
,
but
in
Returne
to
bee
deuided
in
kinde
or
Species
of
the
Commodities
which
they
Receiue
:
yet
the
manner
of
the
Portugals
,
is
(
by
experience
)
found
better
to
sell
also
ioyntly
,
considering
we
sell
vnto
other
Nations
,
who
pay
for
it
,
although
some
part
thereof
is
sold
deerer
thereby
within
the
Realme
to
the
Subiects
and
inhabitants
.
But
for
other
places
neerer
,
the
Merchants
to
deale
apart
vnder
some
Gouernment
,
may
seeme
conuenient
.
The
generall
intention
of
all
Grants
by
Duke
of
Brownswicke
,
which
he
maintained
to
his
charges
,
called
the
Wilde
man
:
which
causeth
him
to
coyne
Dollers
,
hauing
on
the
one
side
his
Armes
,
and
on
the
other
side
a
Sauage
man
,
holding
a
burning
Candle
in
his
hand
with
an
inscription
,
Alijs
inseruiendo
,
Consumor
.
To
end
this
point
,
wherein
the
said
Author
hath
made
good
distinctions
,
I
shall
onely
adde
moreouer
,
that
when
new
inuentions
are
found
out
,
for
the
good
of
the
Common-wealth
:
That
the
next
is
,
to
augment
them
by
Trade
in
forraine
parts
.
And
to
preuent
that
the
same
be
not
ouerthrowne
by
the
knowledge
of
their
seruants
or
others
,
but
that
by
some
good
priuiledges
and
meanes
,
they
may
be
maintained
to
the
increase
of
Trade
,
for
the
Generall
welfare
of
the
Kingdome
.
CHAP.
IIII.
Of
want
of
Gouernment
in
Trade
.
WIse
Men
haue
noted
,
that
A
Distinction
only
,
doth
dispell
the
foggy
misteries
of
deceitfull
fallacies
:
as
the
Sun
driues
away
the
Winde
and
Cloudes
.
Therefore
too
many
distinctions
in
a
little
Treatise
may
seeme
superfluous
,
especially
when
they
are
grounded
vpon
many
Repetitions
:
So
that
hauing
in
the
former
Chapters
,
obserued
the
Defectiue
Parts
of
Trade
,
and
tacite
answered
some
obiections
,
I
will
omit
,
the
commendation
of
all
the
Societies
of
Merchants
,
handled
by
the
said
Author
in
his
fourth
chapter
,
as
also
the
effects
of
the
former
Causes
,
as
they
may
concerne
the
Kings
Maiestie
and
the
Common-wealth
mentioned
in
the
fift
and
sixt
Chapters
,
to
auoyd
the
cramming
of
a
man
with
learning
,
as
promises
doe
with
hope
;
and
so
come
to
his
propounded
Remedies
.
But
lest
this
Title
of
the
want
of
Gouernment
in
Trade
,
should
seeme
to
be
misapplyed
:
I
haue
thought
good
to
declare
,
wherein
Merchants
may
easily
commit
errors
,
to
the
preiudice
of
the
Common-wealth
,
albeit
,
it
maketh
for
their
priuate
benefit
,
namely
;
In
the
selling
of
their
Cloth
good
cheape
beyond
the
Seas
in
greater
quantitie
,
when
they
haue
beaten
downe
the
price
with
the
Clothier
,
whereby
the
Clothier
is
forced
to
doe
the
like
with
the
Wooll-grower
,
which
disimproueth
the
Reuenue
of
lands
;
but
the
Merchant
employeth
the
lesser
Stocke
,
and
hath
not
therfore
the
lesse
benefit
;
the
Wooll-grower
and
the
Clothier
bearing
the
losse
.
To
make
ouer
their
moneys
from
beyond
the
Seas
,
at
a
low
price
of
exchange
,
in
giuing
lesse
money
there
,
to
haue
the
same
paied
here
by
Bill
of
exchange
in
Starlin
money
,
receiuing
the
moneys
there
at
such
prices
,
as
they
cannot
import
them
,
but
to
their
exceeding
losse
:
whereby
it
commeth
to
passe
,
that
the
exportation
of
our
moneys
,
giueth
an
exceeding
gaine
on
the
contrary
,
and
our
Cloth
is
thereby
more
vndersold
as
afore
said
.
To
conniue
or
winke
at
the
false
making
of
Cloth
,
and
afterwards
to
abate
the
greater
Tare
,
for
the
faults
,
vpon
the
Clothier
.
To
make
continuall
Returnes
of
our
Cloth
in
forraine
Commodities
,
and
thereby
procure
the
more
gaine
,
because
of
the
small
gaine
or
losse
either
,
had
vpon
their
Clothes
,
whereby
the
Common-wealth
is
impouerished
.
To
sell
our
Cloth
so
good
cheape
beyond
the
Seas
,
that
other
Nations
may
make
a
Trade
thereby
for
Russia
,
Eastland
,
Barbary
,
and
other
Countries
,
to
the
great
hinderance
of
the
Merchants
of
those
Societies
.
To
abate
the
Customes
and
Impositions
here
laid
vpon
Clothes
,
to
the
end
,
they
may
sell
them
better
cheape
,
by
vnderselling
others
.
To
vndersell
our
Clothes
so
much
in
price
,
that
in
comparison
of
the
Cloth
made
beyond
the
Seas
,
the
Drapery
there
bee
giuen
ouer
,
without
regard
had
,
how
to
Returne
some
money
and
Bullion
,
but
by
transferring
of
their
Bills
of
debt
for
forraine
Commodities
,
to
ouer-lade
the
Kingdome
with
them
at
deere
Rates
,
according
to
the
inhauncing
of
their
Coynes
;
all
which
may
proue
beneficiall
to
them
in
particular
,
but
wonderfull
preiudiciall
to
the
whole
Kingdome
.
Now
,
before
we
come
to
intreat
of
the
Remedies
for
all
the
afore-said
inconueniencies
,
it
is
most
necessary
to
examine
the
Defectiue
Meanes
and
Remedies
,
which
haue
beene
tried
,
these
350.
yeeres
.
And
these
may
be
distinguished
in
their
proper
and
seuerall
natures
,
three
manner
of
waies
:
for
the
wealth
of
a
Kingdome
in
specie
,
or
by
way
of
exchange
for
moneys
by
Bills
.
1.
First
,
the
Statute
of
Employment
made
for
Merchants
Strangers
,
for
3.
especiall
causes
.
2.
The
lodging
of
Merchant
Strangers
with
free
hoasts
,
who
had
an
inspection
of
their
negotiations
for
Commodities
and
moneys
.
3.
The
keeping
of
Staples
for
Woolls
,
Wooll-fels
,
and
other
Commodities
beyond
the
Seas
,
with
the
Correctors
and
Brokers
to
Register
the
buyings
and
sellings
of
Strangers
.
4.
To
cause
Denizons
to
pay
Strangers
Customes
.
5.
The
Sunday
Treaties
and
Conferences
,
with
the
Commissioners
of
other
Princes
,
about
merchandise
moneys
and
exchanges
.
6.
The
seuere
Proclamations
for
the
obseruation
of
the
Statures
made
,
concerning
the
same
,
and
the
Articles
of
entercourse
.
7.
The
prohibition
to
export
Commodities
,
but
at
great
Ports
.
8.
The
prohibition
for
Strangers
to
sell
Wares
by
Retaile
.
9.
The
prohibition
for
English
Merchants
to
ship
in
strange
bottomes
.
10.
The
Transportation
of
money
,
made
fellony
by
Act
of
Parliament
.
11.
The
attendance
of
Searchers
,
Waiters
and
other
Officers
.
12.
The
informations
in
th'
Exchequer
and
other
Courts
.
13.
The
Swearing
of
the
Masters
of
ships
,
about
moneys
.
14.
The
Reformation
of
the
ouer-heauinesse
of
our
pound
Troy
of
12
ounces
,
in
the
Tower
of
London
.
15.
The
Reformation
of
the
ouer-richnesse
of
our
Starlin
Standard
.
16.
The
Alteration
of
the
proportion
betwixt
Gold
and
Siluer
.
17.
The
making
of
more
prices
out
of
the
pound
Troy
.
18.
The
inhauncing
of
Siluer
and
Gold
Coynes
in
price
.
19.
The
imbasing
of
money
by
Allay
of
Copper
.
20.
The
vse
of
seuerall
Standards
,
and
the
Reducing
of
them
againe
to
two
Standards
of
Gold
and
siluer
.
21.
The
increase
of
Coynadge
money
to
hinder
exportation
.
22.
The
prohibition
to
cull
out
heauy
pieces
to
export
.
23.
The
banishing
of
light
Spanish
money
out
of
the
Realme
,
and
light
Gold
to
be
molten
downe
.
24.
The
giuing
more
for
Bullion
in
the
Minte
.
25.
The
prohibition
of
Gold-smiths
to
buy
Bullion
.
26.
The
making
of
the
principall
forraine
Coyne
,
currant
in
England
.
27.
The
binding
of
Merchants
to
bring
in
Bullion
.
28.
The
prohibition
to
pay
Gold
to
Merchant
Strangers
.
29.
The
prohibition
to
take
Gaine
vpon
Coyne
.
30.
The
Bullion
deliuered
in
the
Minte
by
weight
,
to
be
restored
in
Coyne
by
Tale
.
31.
The
inhauncing
of
Gold
,
and
vnderualuing
32.
The
punishment
of
the
Transporters
of
money
,
by
great
Fines
in
the
Star-chamber
.
33.
The
prohibition
by
Acts
of
Parliament
,
to
make
exchange
for
money
by
Bills
for
forraine
parts
without
the
Kings
Licence
.
34.
Moneys
deliuered
to
Sir
Thomas
Gresham
Knight
out
of
th'
Exchequer
to
Rule
the
course
of
exchanges
.
35.
The
Office
of
the
Kings
Royall
exchanger
,
neuer
put
in
practise
,
since
the
merchandising
exchange
began
,
whereof
there
was
two
Edward
the
first
in
the
11.
yeere
of
his
Raigne
;
and
Custos
Cambij
infra
Turrim
:
which
were
both
put
into
one
mans
hands
,
by
a
Law
made
in
the
Time
of
K.
Henry
the
Sixt
:
so
that
all
the
precedent
meanes
,
haue
beene
found
defectiue
&
fruitlesse
,
as
more
particularly
may
be
proued
,
by
diuers
Records
and
obseruations
:
The
Coppies
whereof
are
in
my
custodie
,
to
doe
his
Maiestie
all
dutifull
and
acceptable
seruice
.
Here
we
are
to
obserue
,
that
the
Statute
of
employment
to
be
Defectiue
,
appeareth
more
manifestly
at
this
time
,
when
Merchants
as
well
English
as
strangers
,
haue
an
ability
giuen
Concerning
moneys
,
which
doe
consist
of
weight
,
finenesse
&
Valuation
;
it
is
euident
,
that
Gold
and
siluer
are
but
materials
,
and
in
the
nature
of
Bullion
;
but
Ualuation
is
the
Spirit
which
giueth
life
.
This
Ualuation
,
is
twofold
;
the
one
by
the
Publike
Authority
of
Kings
and
Princes
,
the
other
by
the
Merchants
in
the
course
of
exchange
;
and
this
is
Praedominant
and
ouer-ruleth
the
Kings
Ualuation
:
for
when
the
King
hath
valued
the
shilling
piece
of
Starlin
money
at
12
pence
,
they
doe
vnderualue
the
same
at
11
pence
halfe
pennie
,
or
11
pence
;
which
vnderualuation
causeth
the
continuall
exportation
of
our
moneys
,
and
is
the
hinderance
of
importation
of
moneys
and
Bullion
,
as
wee
haue
so
often
inculcated
,
to
make
the
motiue
stronger
to
produce
a
sufficient
Remedy
,
as
followeth
.
CHAP.
V.
Of
the
Remedie
,
for
all
the
former
causes
of
the
Decay
of
Trade
.
HAuing
hitherto
obserued
the
Methode
of
the
said
Author
,
in
part
of
his
Distribution
in
the
matter
and
forme
of
Trade
,
and
therein
shewed
very
great
deformities
:
I
am
now
to
apply
the
True
Remedies
likewise
in
order
,
according
to
the
causes
alleaged
,
which
are
noted
by
me
to
be
tenne
in
number
.
The
Efficient
cause
of
the
Transportation
of
our
Moneys
is
(
Gaine
,
)
and
this
Gaine
ariseth
by
the
vnderualuation
of
our
moneys
,
in
regard
of
the
inhauncing
and
ouervaluation
of
forraine
Coyne
;
so
that
the
cause
is
Extrinsike
&
comprised
vnder
the
said
exchange
of
moneys
,
and
not
intinsicke
,
in
the
weight
and
finenesse
of
the
Coyne
,
which
are
considered
in
the
course
of
True
exchange
betweene
vs
,
and
forraine
Nations
;
and
thereupon
it
followeth
,
that
neither
difference
of
weight
,
finenesse
of
Standard
,
proportion
betweene
Gold
and
Siluer
,
or
the
proper
valuation
of
moneys
,
can
be
any
true
causes
of
the
exportation
of
our
moneys
:
so
long
as
a
due
course
is
held
in
exchange
,
which
is
founded
thereupon
.
Hence
ariseth
the
facilitie
of
the
Remedie
,
by
the
Reformation
of
exchange
,
in
causing
the
value
of
our
money
to
be
giuen
in
exchange
,
which
cutteth
off
the
said
Gaine
,
had
by
the
said
exportation
,
and
causeth
(
in
effect
)
that
the
forraine
Coyne
beyound
the
Seas
,
shall
not
be
receiued
aboue
the
value
,
although
the
inhauncing
thereof
,
or
the
imbasing
by
allay
were
altering
continually
.
For
take
away
the
cause
(
Gayne
)
and
the
effect
will
ceasse
.
All
men
of
common
vnderstanding
,
when
they
doe
heare
of
the
raising
of
moneys
beyond
the
Seas
,
are
ready
to
say
,
we
must
doe
the
like
;
for
they
conceiue
the
saying
of
Cato
,
Tu
quoque
fac
simile
,
sic
Ars
deluditur
Arte
,
to
be
a
proper
application
hereunto
:
but
they
doe
not
enter
into
consideration
,
what
Alterations
it
would
bring
to
the
State
,
and
that
the
matter
might
runne
,
Ad
infinitum
,
as
shall
be
declared
.
But
let
vs
suppose
,
that
this
will
be
a
sufficient
Remedy
,
to
inhaunce
our
moneys
,
as
they
doe
theirs
,
to
imbase
our
Coyne
,
as
they
doe
theirs
,
and
to
imitate
ouerualuation
and
vnderualuation
of
Gold
and
Siluer
,
as
they
doe
,
requiring
a
continuall
laboure
,
charge
,
and
innouation
;
is
it
not
an
excellent
thing
that
all
this
can
be
done
by
the
course
of
exchange
,
with
great
facilitie
?
And
that
without
inhauncing
of
our
moneys
at
home
,
or
medling
with
the
weight
and
finenesse
of
the
Starlin
Standard
?
This
is
to
be
done
only
by
his
Maiesties
Proclamation
Royall
Exchange
in
London
,
according
to
the
said
Proclamation
,
and
the
said
Table
shall
be
altered
in
price
,
as
occasions
shall
be
ministred
beyond
the
Seas
,
in
the
generall
Respectiue
places
of
exchanges
,
either
by
their
inhauncing
of
moneys
by
valuation
,
or
by
imbasing
of
the
same
by
Allay
;
which
by
a
vigilant
eye
may
be
obserued
,
and
will
be
a
cause
to
make
other
Nations
more
constant
in
the
course
of
their
moneys
.
And
this
will
be
executed
more
of
course
,
then
by
Authority
;
because
Gaine
doth
beare
sway
and
command
with
most
men
.
The
facilitie
hereof
putteth
me
in
minde
of
the
Geometricall
Axiom
or
Maxime
,
obserued
in
commendation
of
the
inuention
of
round
Wheeles
,
Cir●…ulus
tangit
Planum
,
vnico
puncto
,
For
the
Merchant
Stranger
,
being
here
the
Deliuerer
of
money
generally
:
will
easily
bee
induced
to
make
the
most
of
his
owne
,
receiuing
by
exchange
more
for
the
same
beyond
the
Seas
;
and
the
English
Merchant
being
the
Taker
of
the
said
moneys
,
will
not
bee
so
iniurious
to
the
State
,
as
to
giue
lesse
beyond
the
Seas
,
then
the
value
of
the
money
of
the
Realme
in
exchange
,
contrarie
to
the
said
Proclamation
:
and
if
hee
would
,
the
Deliuerer
will
not
let
him
haue
it
.
Besides
that
the
Takers
occasions
are
enforced
by
necessitie
,
and
he
can
be
no
loser
;
for
by
this
direction
,
he
will
sell
his
Commodities
beyond
the
Seas
accordingly
.
English
Merchants
being
the
Deliuerers
of
money
beyond
the
Seas
,
and
the
price
of
exchange
altering
there
accordingly
,
will
haue
the
like
consideration
,
and
the
Merchant
Stranger
will
prouoke
him
thereunto
.
And
if
there
be
no
Takers
,
the
English
Merchant
may
bring
ouer
the
money
in
specie
,
wherein
he
shall
become
a
Gayner
.
This
course
is
agreeable
to
Iustice
and
the
Now
before
we
come
to
answer
some
obiections
made
against
this
Remedie
,
let
vs
examine
what
Time
the
old
obseruer
,
and
experience
the
best
Schoole-master
of
mans
life
,
haue
manifested
touching
the
Raising
of
moneys
in
forraine
parts
,
and
within
the
Realme
;
it
being
one
of
the
34.
defectiue
remedies
before
declared
.
It
is
recorded
in
an
auncient
booke
,
that
the
inhauncing
of
the
Coynes
beyond
the
Seas
,
was
the
cause
that
King
Henry
the
sixt
of
England
,
did
raise
the
ounce
of
Starlin
Siluer
from
20
pence
to
30
pence
:
and
King
Edward
the
fourth
from
30
pence
to
40
pence
.
And
after
him
King
Henry
the
eight
,
after
many
sendings
to
forraine
Princes
about
Minte
affaires
and
exchanges
,
(
perceiuing
the
price
of
money
continually
to
rise
beyond
the
Seas
:
)
caused
in
the
18.
yeere
of
his
Raigne
,
The
Angell
Noble
to
be
valued
from
6
shillings
8
pence
,
vnto
seuen
shillings
and
foure
pence
,
and
presently
after
to
7
shillings
6
pence
;
whereby
euery
ounce
of
Starlin
Siluer
was
worth
45
pence
:
and
yet
there
was
nothing
effected
thereby
,
the
money
still
altering
beyond
the
Seas
;
whereupon
Cardinal
Wolsey
had
Letters
Patents
granted
him
by
the
King
,
to
alter
the
Valuation
of
money
from
time
to
time
,
as
he
should
see
cause
.
Afterwards
the
said
King
in
the
22.
yeere
of
His
Maiestie
caused
a
Proclamation
to
be
made
,
according
to
the
aforesaide
Statute
,
made
in
the
time
of
King
Richard
the
second
,
That
no
person
should
make
any
exchange
contrary
to
the
true
meaning
of
the
said
Act
and
Statute
,
vpon
paine
to
be
taken
the
Kings
mortall
enemy
,
and
to
forfeite
all
that
hee
might
for
feite
:
which
tooke
effect
but
for
a
short
time
,
and
no
other
was
to
bee
expected
,
it
not
beeing
of
that
moment
,
nor
the
principall
meane
to
doe
it
.
After
this
followed
the
imbasing
of
Moneys
,
and
then
all
the
price
of
forraine
Commodities
did
rise
immoderately
,
which
made
the
natiue
Commodities
to
rise
at
the
Farmors
and
West
Indies
,
as
is
already
noted
;
and
by
these
meanes
,
was
the
Office
of
the
Kings
Royall
exchanges
neglected
,
because
vpon
the
Base
money
no
exchange
was
made
,
and
other
nations
counterfeited
the
same
,
and
filled
the
kingdome
with
it
,
and
so
carrien
out
the
good
Staple
wares
of
the
Realm
for
it
.
This
raising
of
money
was
augmented
afterwards
by
Queene
Elizabeth
of
blessed
memory
,
in
the
highest
degree
,
by
one
full
third
part
,
from
45.
pence
the
ounce
,
vnto
60.
pence
or
5.
shillings
Starlin
Standard
:
But
the
exportation
did
neuer
ceasse
,
because
the
course
of
exchange
for
money
did
runne
alwaies
vnder
the
value
of
the
money
,
still
affoording
a
gaine
betweene
the
said
exchange
and
money
,
which
caused
the
said
exportation
.
And
so
will
it
bee
stil
,
if
this
be
not
preuented
by
Direction
in
a
paire
of
Tables
,
much
like
vnto
the
Tables
kept
in
specie
for
it
beyond
the
Seas
;
which
made
them
to
leaue
their
moneys
within
the
Realme
;
and
this
course
of
exchange
so
directed
,
is
the
onely
meane
and
way
to
restore
Englands
wealth
by
importation
of
money
and
Bullion
,
aduancing
the
price
of
our
natiue
Commodities
,
and
to
preuent
the
Transportation
of
our
moneys
:
and
all
other
Remedies
.
are
Defectiue
,
as
experience
will
prooue
and
demonstrate
,
if
good
things
can
bee
fauoured
.
The
Statute
of
employment
must
also
bee
obserued
,
to
make
the
Remedy
more
compleate
with
a
Register
also
,
to
record
the
Moneys
which
forraine
Marriners
doe
receiue
for
fraight
comming
from
Norway
and
other
places
,
which
are
aboue
one
hundred
voyages
in
one
yeare
;
as
also
many
other
Ships
,
bringing
corne
into
the
Northerne
and
Westerne
parts
of
the
Realme
,
and
exporting
money
for
it
.
The
Turke
,
Persian
,
and
Russian
haue
herein
beene
more
Politicke
then
we
,
keeping
the
price
The
Obiections
made
by
some
against
this
Sole
Remedy
may
easily
be
answered
,
for
they
are
grounded
vpon
Suppositions
against
assured
experience
.
1.
Some
make
doubt
,
that
the
price
of
exchange
2.
Others
say
,
that
those
merchants
,
which
haue
sold
their
Cloth
beyond
the
Seas
,
shall
receiue
a
losse
in
the
making
ouer
of
their
money
from
thence
.
3.
Others
say
,
that
they
shall
not
be
able
to
vent
their
Cloth
,
according
to
the
high
exchange
,
especially
now
that
the
same
is
out
of
request
;
and
would
haue
the
matter
of
reformation
deferred
vntill
an
other
time
.
The
first
obiection
is
answered
before
,
That
the
taker
is
ruled
by
the
deliuerer
,
who
will
not
To
the
second
,
the
Proclamation
limiting
a
time
for
execution
,
giueth
Merchants
ability
to
recouer
their
moneys
,
or
to
sell
their
billes
of
debt
for
money
,
or
to
buy
Commodities
for
them
,
as
the
manner
is
.
To
the
third
,
experience
maketh
a
full
answer
to
both
,
that
there
did
not
want
takers
,
when
the
late
inhauncing
of
money
at
Hamborough
,
caused
the
exchange
to
rise
from
vnder
28.
shillings
to
aboue
35.
shillings
;
which
is
more
then
the
present
alteration
will
be
,
and
Wooll
was
at
33.
shillings
the
Todde
,
which
is
now
fullen
vnder
20.
shillings
.
So
that
the
vent
of
our
Cloth
was
not
hindered
when
it
was
solde
dearer
by
one
full
third
part
:
But
there
was
aboue
80.
thousand
Clothes
sold
yearely
,
where
there
is
not
sold
now
40.
thousand
Clothes
.
The
time
is
also
to
bee
thought
more
conuenient
to
aduance
a
Commoditie
being
vndervalued
,
then
to
doe
it
when
the
price
is
high
.
For
this
Pleurisie
of
the
Common-wealth
is
dangerous
,
and
admitteth
no
time
to
bee
cured
;
like
the
fire
in
a
City
,
which
permitteth
not
enquiries
to
examine
how
the
fire
beganne
,
but
requireth
euery
mans
helpe
to
quench
the
same
.
And
whereas
it
is
alleadged
in
defence
of
the
inhauncing
of
our
Coyne
,
That
which
is
equall
to
all
,
when
hee
that
buyes
deare
,
shall
sell
deare
,
cannot
be
said
to
be
iniurious
to
any
.
This
opinion
seemes
to
be
eiusdem
farinae
,
as
the
former
,
and
hath
no
consideration
what
the
alteration
of
Weights
or
Measures
betweene
vs
and
forraine
nations
,
may
produce
to
the
losse
of
the
Common-wealth
,
albeit
that
betweene
man
and
man
,
it
may
prooue
alike
in
some
respects
.
To
make
this
euident
,
suppose
two
Merchants
,
the
one
dwelling
in
London
,
and
the
other
dwelling
at
Amsterdam
,
do
contract
together
;
that
the
Londoner
sending
Clothes
to
sell
at
Amsterdam
,
the
merchant
of
Amsterdam
sendeth
him
Veluers
and
Silkes
to
bee
solde
at
London
;
and
in
the
account
to
be
kept
betweene
them
they
agree
to
reckon
the
moneys
in
exchange
but
at
30.
shilings
flemish
for
20.
shillings
Starlin
,
and
so
make
returne
each
to
other
from
time
to
time
as
money
shall
be
receiued
,
both
here
and
beyond
the
Seas
.
Wherupon
put
the
case
that
there
is
receiued
at
Amsterdam
1500
lib.
flemish
for
Cloth
,
and
at
London
there
is
receiued
1000.
lib.
Starlin
for
Veluets
and
Silkes
,
which
by
the
said
rate
&
calculation
is
all
one
(
in
effect
)
between
them
,
and
might
by
way
of
Rescounter
answer
each
other
in
account
.
But
the
in
specie
:
)
desireth
the
Londoner
to
send
him
this
1000.
lib.
Starlin
in
siluer
&
gold
coyns
,
Realls
of
eight
or
Rieckx
Dollers
,
wherby
he
shal
profite
15.
vpon
the
100
,
by
the
meanes
aforesaid
,
which
amounteth
to
150.
lib.
gaines
.
The
Londoner
hauing
his
1500.
lib.
flemish
,
or
1000.
lib.
Starlin
at
Amsterdam
,
cannot
doe
the
like
,
because
the
moneys
are
inhaunced
and
receiued
aboue
the
value
,
so
that
his
money
must
be
deliuered
by
exchange
there
at
a
low
rate
,
or
at
33
shillings
4.
pence
,
whereby
he
doth
receiue
here
the
said
1000.
lib.
with
no
gaine
at
all
.
Thus
the
account
betweene
them
is
made
euen
;
but
by
these
means
,
the
Kingdome
is
depriued
of
the
1000
,
lib.
of
the
Merchants
money
sent
to
Amsterdam
,
which
doth
not
onely
procure
the
want
of
money
in
England
,
whereof
euery
man
hath
a
feeling
to
his
losse
:
but
also
it
causeth
the
natiue
Commodities
to
be
vndersold
,
and
the
forraine
Commodities
to
be
aduanced
in
price
beyond
the
Seas
,
by
plenty
of
money
;
and
hindereth
the
importation
of
money
and
Bullion
,
as
aforesaid
.
To
preuent
this
,
the
Question
is
now
,
whether
it
be
better
and
more
expedient
,
to
raise
the
price
of
exchange
,
or
the
price
or
valuation
of
our
moneys
;
Surely
all
men
of
iudgement
wil
say
,
that
the
raising
of
exchange
breedeth
not
that
alteration
,
which
the
inhauncing
of
moneys
doth
,
namely
to
make
euery
thing
deere
,
and
to
cause
Landlords
and
Creditors
to
lose
in
their
Rents
and
Contracts
.
And
Merchants
of
experience
doe
know
,
that
wee
cannot
doe
as
they
doe
.
For
the
inhauncing
of
moneys
here
,
will
be
countermined
by
other
Nations
,
who
still
will
vndervalue
them
in
exchange
betweene
vs
,
vnlesse
it
be
preuented
by
our
owne
true
valuation
to
be
made
knowne
as
aforesaid
,
which
by
the
Law
of
Nations
,
cannot
be
contradicted
;
whereby
we
shall
also
bee
enabled
to
meet
with
them
vpon
all
Alterations
and
practises
,
to
direct
our
course
accordingly
,
sooner
then
a
Milner
can
turne
his
Winde-mill
,
to
grinde
Corne
with
the
variation
of
all
windes
.
It
followeth
(
saith
the
said
Author
)
that
the
Raising
also
of
the
Coyne
,
would
raise
the
price
of
In
this
place
,
we
are
to
remember
,
that
the
Siluer
vsed
for
diuers
manufactures
and
Plate
,
doth
much
differ
in
finenesse
,
whereby
many
of
his
Maiesties
Subiects
are
deceiued
:
It
may
therefore
be
thought
conuenient
,
that
no
siluer
made
into
manufactures
be
sold
,
vnlesse
it
bee
tried
by
an
Assay
master
,
and
marked
accordingly
,
especially
the
siluer
Threed
comming
from
beyond
the
Seas
:
some
beeing
but
eight
ounces
fine
,
which
is
offered
to
be
solde
accordingly
:
or
els
to
make
it
finer
,
as
shal
be
thought
conuenient
to
serue
the
kingdome
,
and
to
become
bound
to
make
Returne
in
the
manufacture
of
our
Wooll
for
their
manufacture
of
Siluer
and
Silke
;
which
may
bee
thought
a
very
reasonable
Permutation
.
The
want
of
mony
coming
by
the
consumption
of
forraine
Commodities
,
may
properly
be
tearmed
overballancing
of
Commodities
,
which
are
more
worne
and
vsed
,
because
of
the
quantity
of
them
,
imported
proceeding
also
of
the
abuse
of
exchange
,
as
the
efficient
Cause
thereof
,
as
aforesaide
.
The
excessiue
Vse
of
Tobacco
for
so
much
as
concerneth
the
importation
thereof
in
liew
of
Treasure
,
will
be
much
diminished
by
the
late
limitation
of
a
quantity
of
Spanish
Tobacco
lately
established
;
to
the
end
that
the
Plantation
of
Virginia
and
the
Bermodaes
may
be
aduanced
thereby
;
and
it
is
to
be
wished
that
the
moneys
to
bee
employed
in
Spanish
Tobacco
were
likewise
made
ouer
by
exchange
,
and
deliuered
to
the
Merchants
aduenturers
and
others
,
to
be
bestowed
vpon
the
Commodities
of
the
Realme
to
make
benefite
of
our
owne
;
for
if
such
forraine
Commodities
,
shal
vanish
away
in
smoake
or
be
consumed
and
brought
(
as
it
were
)
vnto
Elephantike
Body
)
hath
a
slowe
motion
,
and
therefore
more
dangerous
and
subiect
to
destruction
,
which
by
the
want
of
money
,
is
made
visible
and
sensible
.
The
returnes
lately
had
from
the
East-Indies
,
wil
in
part
asswage
the
same
,
if
Merchants
in
the
dispersing
of
those
Commodities
,
will
procure
importation
of
money
and
Bullion
,
as
(
no
doubt
)
they
will
doe
.
And
this
will
further
bee
increased
,
when
the
Hollanders
and
our
Merchants
shall
be
at
an
end
of
their
present
controuersies
,
which
by
his
Maiesties
high
wisedome
,
will
soone
be
determined
.
Touching
the
warres
of
Christendome
,
for
so
much
as
concerneth
the
want
of
moneys
:
I
haue
already
shewed
how
the
same
is
also
comprised
in
the
reformation
of
the
abuse
of
exchange
,
procuring
thereby
moneys
,
which
are
Nerui
Bellorum
.
But
to
take
vpon
mee
to
discourse
of
warres
,
might
make
me
subiect
to
Apelles
his
reprehension
,
Ne
sutor
vltra
Crepidam
.
Onely
I
hope
that
the
famous
example
of
Augustus
Caesar
the
Emperour
may
bee
remembred
,
who
perceiuing
the
forces
of
the
great
Pirate
Crocataes
to
increase
daily
by
the
concourse
of
many
nations
,
whilest
hee
was
in
Spaine
,
caused
a
Proclamation
to
be
made
,
that
whosoeuer
should
bring
him
the
head
of
the
said
Pirate
,
he
would
reward
him
with
20.
thousand
Sixtus
Quintus
deale
with
the
Banditi
in
Italy
,
and
made
them
to
cut
one
anothers
throats
.
This
Policy
of
reward
draweth
as
forcibly
as
the
Adamant
or
Loade-stone
,
which
caused
the
Spaniard
to
say
,
Dadiuas
quebrantan
Pennas
,
Gifts
doe
breake
stony
Rockes
.
From
the
Precedent
causes
of
the
want
of
efficient
Cause
,
whereunto
the
onely
Remedy
hath
beene
declared
already
.
Vsury
Politike
,
is
made
the
next
cause
of
the
decay
of
Trade
,
which
must
be
remedied
by
the
Praerogatiue
Royall
or
by
Act
of
Parliament
might
be
established
;
for
thereby
great
matters
are
effected
as
it
were
with
ready
money
.
But
our
law
requireth
a
more
precisenesse
in
the
execution
thereof
,
then
in
Germany
and
the
Low
Countries
,
it
not
being
Choses
in
Action
,
as
the
Lawyers
speake
.
But
the
necessarines
hereof
,
As
at
Venice
,
where
a
man
for
the
summe
of
three
or
foure
hundreth
pounds
once
giuen
(
and
in
like
manner
at
Amsterdam
)
shall
be
sure
to
haue
one
hundreth
pounds
a
yeare
,
during
his
life
;
wherby
a
great
Stocke
might
be
raised
for
the
generall
good
of
all
parties
,
and
especially
to
set
the
poore
people
on
worke
,
and
to
take
their
manufactures
of
them
to
be
sold
with
a
reasonable
gaine
:
for
experience
hath
taught
in
all
places
,
where
the
like
is
vsed
,
that
the
City
becommeth
alwayes
a
Gayner
by
the
decease
of
the
parties
that
doe
deliuer
money
in
this
nature
.
But
it
is
conuenient
to
prescribe
certaine
rules
hereupon
in
the
making
of
all
manufactures
,
which
commonly
is
best
effected
by
Corporations
.
The
litigious
Suits
in
Law
being
noted
as
the
Matter
of
fact
may
nakedly
appeare
before
the
Iury
of
twelue
men
,
who
are
to
iudge
thereof
according
to
the
euidence
of
witnesses
produced
before
them
;
for
touching
the
matter
of
Law
,
the
same
beeing
separated
from
the
matter
of
Fact
,
maketh
a
Dem●…rer
to
be
determined
by
the
Iudge
.
I
haue
great
cause
to
enter
into
Campum
spatiosum
about
this
Law
warfare
,
hauing
by
experience
and
study
spent
much
time
therein
.
But
I
thinke
fit
onely
to
commend
the
orders
vsed
in
Germany
to
take
downe
the
litigious
humours
of
some
persons
:
To
make
them
pay
a
Fine
of
twelue
pence
vpon
the
pound
or
more
to
the
Emperors
or
Magistrates
,
for
so
much
as
they
claime
more
of
the
defendant
,
then
they
can
iustly
prooue
to
be
due
vnto
them
;
besides
〈◊〉
further
charge
,
if
hee
bee
found
in
his
proceedings
to
doe
things
for
a
Reuenge
,
which
they
call
an
vnlawfull
imprisonment
,
although
by
the
lawe
he
haue
commenced
his
Sute
lawfully
:
and
this
is
tearmed
Poena
Plus
Petentium
.
For
all
other
meanes
,
whereby
the
differences
happening
betweene
Merchants
are
determined
,
I
must
referre
the
same
vnto
my
booke
of
Lexmercatoria
,
as
a
matter
requiring
a
large
explanation
.
The
like
I
must
doe
concerning
the
fishing
Trade
,
which
is
the
fourth
Cause
noted
before
,
Facilius
est
addere
,
quàm
constituere
.
The
fift
cause
of
the
decay
of
Trade
,
by
making
Cloth
in
forraine
Countries
hath
beene
The
ninth
cause
of
the
decay
of
Trade
,
consisting
Warres
,
Pirates
,
and
Bankerupts
,
I
haue
partly
handled
in
the
fifth
Cause
.
And
although
decayed
men
are
found
at
all
times
,
yet
the
want
of
money
hath
caused
diuers
Merchants
and
Tradesmen
to
Breake
,
who
might
haue
maintained
then
credits
,
but
that
being
out
of
their
moneys
,
and
the
moneys
out
of
the
Kingdome
,
maketh
them
to
goe
out
of
their
credits
;
for
Necessitas
Parit
Turpia
.
The
Remedy
hereof
doth
most
depend
vpon
plenty
of
money
,
or
meanes
in
the
liew
of
money
,
as
the
setting
ouer
of
Bills
of
debt
before
spoken
of
.
For
the
Statute
against
Bankerupts
,
cannot
produce
any
great
effect
,
but
be
a
meane
to
vndoe
the
party
for
euer
,
if
it
doe
depend
long
vpon
him
contrary
to
the
intention
thereof
;
for
whereas
all
such
as
are
Creditors
,
ought
to
come
in
within
foure
moneths
to
take
their
part
,
of
what
may
appeare
of
the
state
of
the
Bankerupt
,
to
bee
examined
by
all
lawfull
meanes
:
the
same
is
protracted
for
tenne
,
twenty
,
and
more
moneths
;
and
all
those
that
come
in
the
said
I●…erim
are
admitted
with
the
former
,
and
a
great
part
of
the
estate
is
spent
in
charges
.
This
may
bee
remedied
by
the
Authority
of
the
Chauncery
to
the
Commissioners
appointed
for
th'
execution
of
the
said
Statute
.
The
Remedy
to
the
last
and
tenth
Cause
of
Monsieur
Bodine
doth
obserue
with
Plato
,
that
as
the
Prince
is
,
so
are
the
Subiects
,
who
(
by
imitation
)
follow
his
example
,
which
sooner
entreth
into
their
eyes
,
then
into
their
eares
:
And
the
greater
their
Authoritie
is
,
the
more
affectionate
is
their
imitation
.
Alexander
cast
his
head
aside
,
and
all
the
Court
held
their
necks
awry
;
Denis
was
Purblinde
,
and
his
Courtiers
stumbled
at
euery
step
and
iustled
each
other
,
as
if
they
had
beene
euill
sighted
:
and
so
of
other
Princes
in
their
apparell
,
precious
stones
and
other
things
,
which
is
made
to
bee
the
fashion
.
Hence
the
Prouerbe
tooke
beginning
,
Countries
fashion
,
Countries
honour
.
And
the
effect
hereof
,
is
many
times
greater
then
the
Lawes
can
bring
to
passe
,
vnlesse
it
be
vpon
some
Remarkable
occasion
,
as
the
late
Command
may
proue
for
the
wearing
of
Blackes
at
Funeralls
,
in
Cloth
and
Stuffes
made
of
English
Wooll
within
the
Realme
.
Here
I
haue
omitted
,
to
speake
of
Customes
,
Impositions
publike
and
secret
,
layed
vpon
Commodities
,
especially
vpon
Cloth
,
both
here
and
beyond
the
Seas
;
because
the
same
requireth
great
consideration
,
and
the
abolishing
thereof
(
being
once
laied
on
)
will
hardly
bee
brought
about
,
vnlesse
it
bee
,
with
the
consent
of
both
parties
,
where
the
one
hath
prouoked
the
other
to
impose
them
.
For
a
Conclusion
therefore
let
vs
note
,
That
all
the
said
causes
of
the
decay
of
Trade
in
England
,
are
almost
all
of
them
comprised
in
one
,
which
is
the
want
of
money
;
whereof
wee
finde
the
abuse
of
exchange
,
to
bee
the
efficient
Cause
,
which
maketh
vs
to
finde
out
so
easie
Remedie
,
whereby
the
Kingdome
shall
enioy
all
the
three
essentiall
parts
of
Traffique
vnder
good
and
Politike
Gouernment
,
which
will
bee
Free
Trade
effectually
or
in
deed
.
And
this
will
also
bee
admirable
in
the
eyes
of
other
Princes
,
finding
his
Maiesties
wisdome
to
bee
Transcendent
in
Gouerning
of
his
owne
,
which
(
by
so
many
sendings
and
remissions
of
Ambassadours
vnto
forraine
Princes
and
States
by
his
Noble
Predecessours
:
)
could
neuer
bee
effected
,
as
by
diuers
Records
appeareth
;
albeit
there
was
nothing
required
of
them
,
but
what
did
stand
with
the
Rule
of
Equality
and
Equitie
,
which
cannot
erre
:
But
velut
Ariadnae
caeca
regens
filo
vestigia
,
non
modo
nos
errare
non
sinit
,
sed
etiam
efficit
,
vt
aberrantes
in
Rectam
viam
deducamur
.
Soli
Deo
Gloria
.
FINIS
.