naturally and lawfully borne within this your Maiesties Realme of England and also that they and euerie of them shall and may from henceforth by the same authoritie be enabled and adiudged able to all intents and constructions to demaund challenge aske haue hold and enioy landes tenements hereditaments and rents as heire or heires to any of their auncestors by reason of any descent remaine reuert or come to them or any of them by any other lawfull conueiances or means whatsoeuer or which hereafter shall come c. as if they and euerie of them had beene your Highnesse naturall subiects borne and to hold and inioy to them and euerie of them ioyntly and seuerally lands tenements and hereditaments or rents by way of purchase gift graunt or otherwise of any person or persons to all constructions and purposes as though they and euerie of them had beene your Highnesse naturall borne subiects and also that they and euerie of them from henceforth may and shall bee enabled to prosecute maintaine and avow iustifie and defend all manner of actions suits plaints and other demands whatsoeuer as liberally frankely fully lawfully surely and freely as if they and any of them had beene naturally borne within your Maiesties Realme of England and as any other person or persons naturally borne within the same may in any wise lawfully doe any Act Law Statute Prouiso Custome Ordinance or other thing whatsoeuer had made ordained or done to the contrarie in any wise notwithstanding And your Petitioners shall daily pray for your Royall Maiestie long in honour and most safetie to remaine ouer vs. This Petition in nature of an Act of Parlement The manner of proceeding in Parlement is deliuered to the Speaker of the Parlement who vpon the second reading in the Commons House procureth the same to bee referred to certaine Committees before whom the Petitioners doe appeare and after examination if there be no apparant cause that might crosse them the Bill is returned into the Parlement and read for the third time as the manner is of all Acts and then it is carried vp to the higher house and there it is commonly of course also read three times and so allowed and there it doth remaine vntill the last day of the Session of Parlement and then the Kings Royall Assent is had therevnto and there is written on the backside or within these wordes Le Roy le Veult And if it be anâ— Act which the King will not passe the Clerke of the Parlement writeth Le Roy S'aduiser'a which is a cleane and absolute refusall and all which was done is void and cannot bee reuiued in another Parlement without to begin all from the beginning againe So much for England In France all strangers that are not borne within the Kingdome and reside or dwell in the same Aubeine in France are subiect to the right of Aubeine so called Tanquam Alibi nati for after their death if they be not naturalized the King doth seise vpon all their goods they haue in France and appropriateth the same to his Exchequer or Finances without that the said strangers can dispose thereof by Testament or Will or that their lawfull heires can claime the same howbeit they may giue them and dispose thereof whiles they liue by contracts made betweene them A stranger also not dwelling within the Realme yet hauing gotten wealth or meanes within the same may dispose of it vnto his heyres and others although they were strangers Also if a stranger trauelling through the Kingdome of France should chance to die his heires shall enioy his goods which hee hath left at the time of his decease in France But when a stranger taketh letters of naturalization then may hee get wealth and possessions within the Realme lawfully and freely which letters of naturalization must be recorded in the Chamber of Accounts vpon paine of a penaltie payed to the King and his lawfull heires shall enioy the said possessions and goods so as hee be nature of the Realme or any other to whom the same be giuen by Will or Testament so as he also be naturalized as aforesaid But Monsieur Papon the Ciuilian saith That it is not sufficient for one to enioy the same to bee borne within the Realme but it must be also of a woman taken in marriage within the Realme and heerevpon alleageth an arrest or sentence of the Parlement of Paris whereby a cosin of a stranger deceased was preferred before the sister because the cosin was born within the realme and dwelling in the same and the sister did not dwell within the Realme and was borne in another countrey albeit she caused her selfe to be Naturalized after the decease of her brother whereof the Court had no regard because the goods by succession were gotten before which could not be made void by the Kings Letters Pattents Monsieur Banquet is of opinion That a Frenchman being departed the Kingdome for to dwell in another countrey that his goods present and to come doe appertaine vnto the King and cannot dispose thereof by Will or Testament as it hath beene proued by diuers Decrees of Parlement The King is Lord of all vacant goods and therefore wiues and children are to take Letters of Naturalization to purchase their quietnesse And if any stranger borne and naturalized should bee out of the Kingdome some eight or ten yeares vpon especiall occasion or otherwise hee is at his returne to take new Letters of Naturalization or a confirmation of the former by some approbation An obseruable consideration And herein is a speciall point to bee noted as a matter of record that those of Flanders Millaine and the French Countie of Sauoy are not bound to take Letters of Naturalization to dwell in this Kingdome because the French Kings pretend that the said countreys are theirs and were neuer alienated by any conseâ—t of theirs but are countries which at all times haue belongeth to the Crowne of France who doth acknowledge the subiects to bee true and loyall Frenchmen But it is requisite if they come to dwell and inhabite within the Realme that they take Letters of Naturalization to the end the Officers do not molest or trouble them By the premisses wee see that the Naturalizing in France is farre more compulsorie for Merchants than in England howbeit that in both Kingdomes if a stranger Naturalized after many yeares that hee hath inhabited the same bee desirous to returne to his father-land or natiue countrey he may surrender his Letters Pattents and bee discharged of his oath * ⎠* CHAP. XIIII Of the determination of Sea-faring causes HAuing now hitherto intreated of the Customes of Merchants with their Adiuncts and Accidents and therein obserued Time Number Weight and Measure as also the three Simples and Essentiall parts of Trafficke with their Effects and Properties let vs now consider of the Manner and Methode of the proceedings therein to see by what meanes they are determined and executed
doth concurre and agree with the Lawes of Oleron whereof we shall intreat more hereafter Fredericke the second King of Denmarke at a Parliament holden at Coppenhauen in the yeare 1561 hath abridged as also set downe certaine Acts or Statutes for the ruling of Sea matters but for the most para agreeing also with the said Lawes of Oleron which you shall find in this Treatise set downe vpon euery occasion offered vnto me to make application of them in the Chapters following CHAP. XVIII Of the manner of Proceedings in Sea-faring Causes ALl controuersies and differences of Sea-faring Actions or Maritime Causes ought to be decided according to the Sea Lawes which tooke their beginning from Customes and obseruations and from them is the interpretation of the said Law to be taken and if any Case shall fall out that was not knowne before neither written downe and authorised as a Law then the same is to bee determined by the Iudge with the opinion of men of experience and knowledge in the said Sea-faring causes And herein is all conuenient expedition required that the matter may be summarily and briefly determined especially in case of shipwracke wherein delayes or protractions in Law is a crueltie to vex such afflicted persons Therefore to preuent appellations present execution and restitution of goods is vsed in causes of spoyle vpon caution first found by the spoyled to satisfie the condemnation to the Iudge if there bee iust cause found of appellation Witnesses in causes Maritime and to this end also it is permitted that witnesses of the same Ship may be examined although the aduerse partie bee not called thereunto Merchants and Marriners sayling together in one Ship may beare witnesse each to other and Marriners against the Master when they are free and out of his command The plaintife is to find suerties to pay costs and damages if he doe faile in his proofe and the defendant is to be put in caution to satisfie the sentence Iudicio cisti iudicatum solui If the defendant doe stand out or commit a comtempt by not appearing for to defend himselfe or his Ship or things challenged the Iudge of the Admiraltie may after foure defaults entred deliuer the possession of the said Ship or any other thing or part thereof to the plaintife putting in sureties for one yeare and a day and if the partie appeare not within that time then the propertie is finally adiudged to the plaintife And if he doe appeare within the time offering to pay the expences and putting in caution to obey and performe the definitiue sentence he shall be admitted But this caution or suerties are lyable absolutely for all from the beginning and cannot be discharged as a Baile may be at the common Law Difference betweene caution in the Admiraltie and baile at the Common Law of England bringing in the partie at conuenient time Summons and Citations are not needfull where the ship or goods in question are forthcomming but may be done in the same place where it lyeth or the goods are found If any man be arrested or troubled for the like matters he is presently to be discharged vpon suerties and especially Marriners because they shall not be hindered of their voyage which he may doe with so much goods or the value thereof as he hath within shipboord at the Iudges discretion for it is intended that otherwise trafficke and commerce is interrupted CAHP. XIX Of Buying and Selling of Commodities by Contracts THE buying and selling of commodities by contracts may bee distinguished three manner of wayes namely Regall Notariall and Verball The Regall contracts are made betweene Kings and Princes and Merchants which caused the Kings of Portugall to be called Royall Merchants For whereas the Venetians had the trade for Spices and other commodities of the East Indies Regall contracts called by the Ciuilians Solemne the Portugalls vpon the discouerie of those parts by Nauigation did bereaue the Venetians of that trade as by the reuolutions of time other Nations haue almost compassed that trade of Spices and taken the same from the Portugalls The Kings of Portugall had alwayes the one moitie of the Pepper by way of contract and for that they would contract againe with the Germaines or other principall Merchants of other Nations and of their owne to deliuer the same vpon a price agreed vpon the arriuall of the Carrackes at Lixborne according vnto which it was sold againe with reputation to other Merchants and dispersed into diuers countries and so was it also done for Cloues and Mace and sometimes for Indico and the payments were made by assignation in the Bankes of Madrill Lyons and Bizanson and sometimes at Florence and other places hereupon was the Contraction-house at Lixborne erected and named accordingly where the said Spices and commodities are brought and sold againe Such are the contracts which the King of Spaine doth make with Merchants for the prouision of Corne for his townes in Africa vpon the coasts of Barbarie as Ceuta Mosegam Tangere and other places the paiment whereof hath beene made againe by Pepper vpon some especiall contract and the Merchants haue thereupon also made other contracts with Merchants of the Low-countries to deliuer them that Pepper at Amsterdam and to take Corne in paiment But the case is since altered by the incorporating of the East-India trade Such were the contracts made by the French king Henrie the third with the great Merchants of Italie called Le graund partie for Salt which they by authoritie did ingrosse for the king and brought also from other countries by sole permission causing euerie household in all France to take a proportion yearely or to pay for it whether they had occasion to vse it or not which was an Italian inuention and for this they paied by contract vnto the king six hundred thousand pounds sterling being two millions of French Crownes yearely Such were the contracts which Queene Elizabeth of blessed memorie made with Merchants of London for the prouision of victuals and apparrell for the souldiours in Ireland during the late warres with the Earle Tirone which did amount to verie great summes of money insomuch that the seuerall contracts for apparrell came to ninetie sixe thousand suits of apparrell as I haue seene by the Records and Accounts extant in his maiesties Court of Exchequer All these and such like contracts are made by commissions granted for that purpose to some great officers of the kingdome who haue thereby authoritie to contract for the same with Merchants or others Notariall contracts haue partly dependance vpon the same Notariall contracts called Publicke for when those Merchants which haue contracted with Kings or Princes are to prouide sodenly those things which they haue contracted for or to dispose of the commodities which they haue bought or ingrossed into their hands Then they deale with other Merchants either to prouide them of the said commodities or to sell them such as they haue bought
purpose as by the graunt appeareth This licence they in short time peruerted to the great disturbance of the ancient course of the Staple whereby the trade of the Realme greatly declined and the Kings Customes decreased so that from 160 thousand pounds yearely payed out of the Staple the Customes came short of 120 thousand pounds The Fraternitie of Saint Thomas of Becket These new Merchants terming themselues The fraternitie of Saint Thomas of Becket were by Act of Parlement and by direction vnder the Great Scale of England in the time of King Henrie the sixth prohibited from doing any act that might preiudice the Staple and so it continued vntill the two and twentieth yeare of King Henrie the seuenth and then there was another great complaint in Parlement against the said fraternitie for decaying of trade and a verie strict law made against them with especiall order that they should admit any of the Kings liege people into their socitie paying vnto them ten markes which vnder pretence of some priuiledges hath beene interrupted and especially by his Maiesties Proclamation in the fifteenth yeare of his Highnesse happie raigne by reason of the controuersie for the dressing and dying of cloth neuerthelesse in all their graunts exception is made That the Staplers should not be preiudiced which in the wisedome of a Parlement will be found most necessarie to be vnited againe to make a free trade vnder gouernment 8 The exportation of the materialls for cloth as woolls Fullers earth woolfells and woodashes is prohibited lately by his Maiesties Proclamation with good orders for the execution thereof according as heeretofore was done by the Correctors of the Staple for other commodities 9 Touching the warres of Christendome let vs obserue that King Edward the third had also great wars in his times with France and in Ireland and neuerthelesse he did receiue a verie great assistance by subsidies of fiftie shillings vpon euerie sacke of wooll exported for and during the time of sixe yeares which amounted to 1500 hundreth thousand pounds when one ounce of siluer was valued but at twentie pence which would now amount to foure millions and a halfe 10 And lastly the immoderate vse of forraine commodities was by the Maior and Constables of the Staple had in consideration for they had alwaies an especiall care to the inriching of the Kingdome because the prouident care of the King did put them in mind thereof insomuch that when the said King became forgetfull therein by reason of the warres and that the Kingdome wanted chaffer wares and necessarie prouisions the Parlement did absolutely deny to giue him any subsidie as appeareth by the Chronicle of Grafton in the one and fiftieth yeare of his raigne so that by the premisses things haue bin in some measure considered of when least disorder in trade appeared A Conclusion to the iudicious Reader THe triuiall vice of Enuie is said to be the mother of wickednesse and accounted to sit in an imâ—ginarie Theater Her Pallace is a dim and hollow vault wherin she waxeth pale and wan as hauing the consumption of the liuer looking a squint as borne vnder Saturne neuer resting as though shee were an arme of Ixâ—ns wheele engendred and hatched by the vgly Megara of Hell that feeds and crams her gorge with Dragons and fomes out againe deadly poyson This vâ—ce hath sent forth triple headed Cerberus vnder the shadow of Zoilus Momus and Mastix Three enuious Satyies to performe her intended tragedie but Zoylus remembring that his railing Commentaries presented by him to Ptolome king of Aegypt and his presumption to bee better learned than Homer did worke his ouerthrow goeth by with silence and shaking his head seemeth to be discontented and vnder hand he doth instigate Momus and Mastix to follow their enuious humors wherupon Momus with his carping eyes dimmed with passion hauing cursorily read ouer this booke taketh vpon him to be a great Pollitician or Statist and findeth fault that many things therein contained which he termeth Mysteries should be published and made knowne especially such as may concerne Princes in their reuenues or secrets of their mints Vnto him therefore I frame this answere confessing and auoiding that true it is That the ancient Monarchies Empires and Common-weales held the knowledge of their reuenues in such reuerence and secret that none but the officers which had the managing thereof were made priuie of them as being sacred things not fitting that the people should take notice thereof which was truely obserued in the Romane Empire and Common-weales of the Grecians But as times produce varietie and the maners of men do change breeding corruption of lawes and customes so was it found that by this secrecie officers were both emboldned and enabled to deceiue the Princes thereby and the people would pretend ignorance to giâ—e vnto them their dues whereupon the Senators of Rome by mature deliberation did ordaine that from that time forward the reuenues of their treasure and the dependances thereupon should be published and made knowne not only vnto the people but vnto strangers also which the Emperor Iustinian caused to beobserued and other Emperors succeeding him as appeareth by the Code and other Bookes which the French Kings haue imitated euer since willing and commaunding that these things should be knowne of euerie one yea euen of the meere strangers of other countries so that this obiection is of small moment especially this booke being moderate in the handling thereof Now Mastix riding a false gallop on a hackney horse being full fraighted of conceits commeth to towne and maketh two exceptions to the methode and contents of the booke first he will not allow the termes of Art by diuiding of the same according to the three essentiall parts of Trafficke next he will not haue Merchants secrets laied open or their trades divulged To the first concerning the being essence or existance of things he will make no difference betweene naturall things and things artificiall and so there is but two essentiall parts of Materia forma albeit that some Philosophers haue established three beginnings of naturall things Matter Forme and Depriuation The Matter hath no other office or function but the changing from one Forme into another Depriuation giuing an inclination thereunto for Depriuation is an imperfection so conioyned to the Matter that without her if she were seperated nothing would be ingendered and therefore in Heauen there is no Depriuation and consequently no generation ne corruption The Forme therefore giueth perfection to the thing and being also and without her the Matter is more imperfect than the eye is without the facultie of seeing or the eares without hearing But in artificialls the being hath her parts as Trafficke hath three namely Commodities Money and Exchange so other things may consist of more being or simples wherein the termes of Art are not excluded neither can they auoid Mastix his enuie To the second the whole contents of this Booke manifesteth to all judicious Merchants how necessarie the knowledge is of the matter therein contained to maintaine Equitie and Iustice by the Law of Nations and that there is no particular secret of any Merchants trade reuealed to the preiudice of any man or nation in so much that they are much pleased with it as being desirous to aduance the good and to banish the euill obseruing that vertue maketh a stranger grow naturall in a strange countrie and the vicious becommeth a meere stranger in his owne natiue soile Let vertue therefore enioy her freedome and possesse her priuiledges by the right of Law and all the people shal flourish with equitie Iustice shall maintaine Peace Peace shall procure Securitie Securitie shall nourish Wealth and Wealth Felicitie No man is to be dismayed at his small tallent or to grudge at anothers greater prosperitie for without doubt Nature hath by her secret motion denied none some perfect qualitie to supplie that want which in himselfe breeds discontent or mislike for euen as the fish hauing no eares hath a most cleere sight so though want of dignitie be a disgrace to some though want of coyne discontent diuers and though lacke of wealth impaires the credit of many yet nature hath supplied that outward ornament with such an internall reward as a loyall and louing heart notwithstanding many hard measures will with constancie spend all his time for the good of the common-wealth being thereunto imployed This worke thus at length happily concluded and commended to the kind acceptation of all gentle and well disposed minds is not compiled to please the vaine appetite of some men according to their nice opinion but is referred to the judiciall and affable judgements of this age to whom I shall during the remainder of my daies alwaies be readie to supplie any thing which in the next impression may be desired not doubting but they will measure it by the iust desert and censure thereof as their owne kind natures haue euer beene accustomed Soli Deo gloria FINIS
their bodies vntill the day of Iudgement For albeit the Spirit of man is rightly termed to bee the Facultie of the Soule The Facultie of the Soule is the Spirit of man yet the parts of the Soule concerning Vnderstanding and Will haue their proper relation for that part called Vnderstanding is seated chiefly in the Soule as Will is in the Spirit both to be accompanied with Knowledge The Phylosophers haue made this distinction by their Chimicall obseruation and such as place the Soule in the bloud dispersed through all the veynes of the bodie do also place the Will of man in the spirit residing in the heart of man which the Anatomists demonstrateth to be a little concauitie where the drops of the vitall bloud are placed in the heart which are feared vp and the place is shrunke in bodies which haue been poisoned To make application of this comparison betweene the Soule and Spirit Application of the comparison we shall find by the following discourse that euen as the Spirit of man is predominant ouer the Soule and Bodie in all the actions thereof which by the bloud are quickned and preserued euen so is the Exchange for moneys by Bills of Exchanges ouerruling the course of commodities and moneys in all places where the action of money is felt or seene directing the same by some due proportions accordingly CHAP. I. Of the Beginning of the Exchange for Moneys by Bills of Exchanges THE Exchange for moneys is of great antiquitie for as we haue declared the first Siluer moneys coyned by the Romanes is almost 1900 yeares since And euen as money was inuented to bee made of the best mettalls to auoid the troublesome carriage of commodities vp and downe and from one countrey into another So vpon the like consideration when other nations imitating the Romanes did coyne moneys The cause of the Exchanges Exchange by Bills for moneys was deuised to auoid both the danger and aduenture of moneys and the troublesome carriage thereof This money now being made by diuers Nations of seuerall standards and diuers stamps and inscriptions as a Marke of Soueraigntie caused them to appoint a certaine Exchange for the permutation of the seuerall sorts of coynes in diuers countreys without any transportation of the coyne but giuing Par pro Pari or value for value with a certaine allowance to accomodate the Merchant and the officers to execute the same were called Numularij Argentarij and Collybistae that is to say Numularij of Nummus or the coyne it selfe Argentarij because the Siluer coyne was most vsuall in the course of trafficke and Collybistae because it signifieth a reward for Exchanging Here now let vs obserue foure manner of Exchanges which haue beene vsed and in some countreys are yet continued albeit some of them are abrogated in England commonly called Cambio Commune Cambio Reall Cambio Sicco and Cambio Fictitio which denomination may be admitted The first manner of Exchange called Cambio Commune I Cambio Commune is properly that Exchange which the said Collibistae or common Exchangers did vse by the authoritie of Princes and Common-weales for the lawfull and currant moneys of their Kingdomes and Territories which was found to be verie expedient and necessarie and was established to preuent the exportation of money from one countrie into another countrie and these Exchangers did deliuer in all countries the Money in one specie for the Moneys in other species by them receiued as aforesaid Tables of Exchange Whereupon King Edward the third of England caused certaine Tables to be set vp at Douer and other places of the realme declaring the value of the said sundrie species of coyne of all countries trafficking with his subiects and the allowance which Merchants were to giue to haue their turnes serued as may appeare by the good Lawes made in his time when there was Moneys coyned in diuers places of this Kingdome and not in one mint onely within the Tower of London And this was long before the discouerie of the West-Indies from whence the ocean of Money did run into Christendome And for the gouernment of the said Tables all was at the direction of the Master of the Kings Mint at London and with a correspondence of other Mints namely at Canturburie at Kingston vpon Hull New-castle vpon Tine Bristoll and Exceter And the Exchanger for the King at London did also depute Exchangers in the most places except that certaine Merchants of Florence called Friscobaldi were the Kings Exchangers at Kingston Friscobaldi the Exchangers New-castle and Exceter who made the said Exchanges of value for value with a reasonable allowance and by their meanes were all the said Mints set on worke and the transportation of our Moneys was preuented for as Bishop Tursids booke of Arithmeticke declareth by giuing par pro pari or value for value there was no gaine left to the transporter The Kings of England did constitute these Exchangers Kings Exchangers euen as the Cambiadores and Banquers are vsed in other countries being authorised by the King or Prince of the said countries especially King Edward the first of England who had two Exchangers the one called Custos Cambij infra Turrim who had the charge in buying of bullion and to looke to the coynage of Money within the realme now called the Warden of the Mint the other was called Keeper of the exchange and rechange within or towards this realme for Moneys to be paied in specie by Bills of Exchanges beyond the seas And afterwards the said Exchanges were made without naming the species but according to the value of the seuerall coynes 2 Cambio Reall and this was called Cambium Regis or Royall Exchange which caused Queene Elizabeth to name the Burse in London accordingly This office appeareth to haue been in the eleuenth yere of the said King Edw. by an Act of Parliament made at Acton Burnel since which time the succeeding Kings and Queenes haue continued the same by sixteene seuerall Letters Patents And whereas it seemed that the said two Exchangers could not execute their offices conueniently being asunder it fell out that in Henrie the sixth his time a Law was made by which both offices were put into one mans hand and so continued many yeares vntill the time of King Henrie the eight Exchanges discontinued when he caused base Moneys to be made at the seige of Bulloigne whereupon no certaine Exchange could be grounded albeit that before that time in the two and twentieth yeare of his raigne he caused a Proclamation to be made according to an old Statute made in the time of King Richard the second The Chronicle of Graston That no person should make any Exchanges contrarie to the said meaning or Act of Parliament vpon paine to be taken to be the Kings mortall enemie and to forfeit all that he might forfeit For in his noble fathers time King Henrie the seuenth the Bankers had inuented a course of
plentie the price thereof deare or by scarsitie better cheape as hath beene noted but Exchange hath a contrarie meane of working for plentie of money maketh a low Exchange and scarsitie of money maketh a high Exchange and the price to rise which is of great consideration because it ouerruleth money and commodities which neuer entred in the politicke studies of Aristotle Seneca or Cicero who were but in the infancie of Trade And Ciuilians can tell vs that Commercium is quasi Commutatio Mercium but went no further in this iust and princely studie of State affaires to augment by all lawfull meanes of Ius gentium the wealth of their Kingdomes and Territories as also to preuent the diminution thereof by the carrying away of their moneys and treasure True it is that the Statute Lawes of England haue had a care heereof but the remedies haue beene hitherto defectiue by mistaking the Efficient cause thereof which remedies may be distinguished three manner of wayes 1 First the Statute of imployment for Merchant strangers Commodities made for three especiall causes 1 For the aduancing of the price and sale of our natiue commodities 2 To preuent the ouerballancing of forraine commodities 3 To preserue the moneyes within the Realme 14. R. 2. 2 The lodging of Merchants strangers with free hoasts who had an inspection in their negotiations for commodities and moneys 3 The keeping of Staples for Woolls Woolfels and other commodities beyond the Seas with their Correctors and Brokers to register Merchant strangers dealings 4 To cause Denizens to pay strangers Customes inwards and outwards 5 The sundry treaties and conferences with the Commissioners of other Princes about Merchandise Moneys and Exchanges 6 The seuere Proclamations for the obseruation of the Statutes made for and 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 goods in strange Bottomes 10 The transportation of money made Felonie by Act of Parlement Moneys 11 The attendance of Searchers Waiters and other Officers 12 The strict information in the Exchequer and other Courts 13 The swearing of the Masters of Ships for exportation of moneyes 14 The reformation of the ouerheauinesse of our pound weight Troy in the Tower 15 The ouerrichnesse of our sterling standard of moneys 16 The alteration of the proportion betweene Gold and Siluer 17 The making of more prices out of the pound Troy by the Sheyre 18 The inhauncing of Siluer and Gold Coynes in price 19 The imbasing of moneys by Allay or Copper 20 The vse of many standards of money and reduced to two againe 21 The increasing of coynage money to hinder the exportation 22 The prohibition to cull out heauy peeces to melt or transport 23 The banishing of light Spanish money and Gold to bee molten 24 The giuing more for Bullion in the Mint 25 The prohibition for Goldsmiths to buy Gold or 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 vnto Merchant strangers 29 The prohibition to take gaines vpon Coynes 30 The Bullion in the Mint to be deliuered by weight to restore by tale 31 The inhauncing of Gold and vndervaluing of Siluer 32 The punishment of transporters in the Starre-chamber by Fines 33 Exchange The prohibition by Act of Parlement to make Exchanges for moneys for forraine parts without the Kings especiall license 34 Money deliuered to Sir Thomas Gresham Knight out of the Exchequer to rule the course of Exchanges by Bills 35 The Office of the Kings Royall Exchanger neuer put in practise since the merchandising Exchange beganne erected by King Edward the first in the eleuenth yeare of his raigne by an Act made at Acton Burnell as aforesaid Heere wee are to obserue the Statute of employment to bee defectiue when Merchants both English and strangers haue an abilitie giuen them by Exchange to take vp money here and to deliuer a Bill of Exchange for it payable beyond the Seas and can send ouer the money in specie and bee a great gainer thereby insomuch that if I receiue here one hundreth peeces of twentie shillings I can send nintie peeces to pay my Bill of Exchange and put ten peeces in my pocket for an ouerplus and gaine The like may bee done by making ouer money from beyond the seas to be payed here by Exchange which being receiued I can transport with 15 vpon the hundreth gaines in two moneths and lesse and aduance a hundreth vpon the hundreth in one yeare which exceedeth all the benefit to be made by commodities wherewith I need not to intermeddle neither can the said statute be any helpe herein to remedie the same This gaine ariseth by the vnderualuation of our moneys in regard of the inhancing and ouerualuation of forreine coynes so that the cause is extrinsique and comprised vnder the said Exchange of money and not intrinsique in the weight and finenes of moneys which are considered in the course of true Exchange betweene vs and forreine nations and thereupon it followeth that neither difference of weight finenesse of standard proportion betweene gold and siluer or their proper valuation of moneys can be any true cause of the exportation of our moneys so long as a due course is held in the Exchange which is grounded thereupon Hence ariseth the facilitie of the remedie by the refoâ—mation of the Exchange in causing our moneys to be truely answered by Exchange according to the verie value or aboue the same which cutteth off the said gaine had by the exportation of moneys and causeth also in effect that the forreine coynes beyond the seas are not taken in payment aboue their values although they be receiued at a higher rate because the commodities of the realme are sold according to the price of Exchange which counteruaileth the same according to their inhauncing of coynes or imbasing of the same by allay or copper All men of common vnderstanding when they do heare of the raising of moneys beyond the seas are readie to say We must do the like For they conceaue the saying of Cato Tu quoque fac simile sic Ars deluditur Arte to be a proper application hereunto But they do not enter into consideration what alterations it would bring to the State and that the matter might run ad infinitum as shall be declared But let vs suppose that this will be a sufficient remedie to inhance or moneys as they do theirs to imbase our coynes as they do theirs and to imitate ouerualuation of gold and siluer as they do which requireth a continuall labour charges 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
Coelo the rather for that so many good Acts of Parlement haue beene made long since concerning the same when the Staple of our commodities did flourish both here and beyond the Seas in the time of King Edward the third The maintenance of â—ree Trade Anno 1622. And hauing of late published tenne causes of the decay of Trade it may be thought conuenient to examine the same vpon the said points 1 The vnderualuation of our moneys by Bills of Exchanges and the ouerualuation consequently of forraine coyne vnto vs which is the Efficient Cause of the want of money in England 2 Vsurie Politike practised by many and abandoning Trade 3 The litigious suits in Law to the hindrance of Trade 4 The neglect of the fishing Trade preoccupied by other Nations 5 The endraping of Wooll in other countreys of late much increased 6 The policies of Merchants of seuerall Societies 7 The false making of Cloth and other manufactures 8 The exportation of the materialls of Woolls Woolfels c. 9 The warres of Christendome Pirats and Bankerupts 10 The immoderate vse of forraine commodities within the Realme But before we come to this examination The beginning of the Staple let vs obserue the beginning of the Staple and their priuiledges in the gouernement thereof The most ancient foundation of Merchants and merchandising in this Kingdome both for Trade and Gouernement had by continuance of time before King Henrie the third did obtaine the name of Staple the commodities of the Realme as Woolls Leather Woolfells fells Lead Tinne Butter Cheese Clothes and other commodities were called Staple Merchandise The Ports from whence the said commodities were to bee transported were called Staple Ports as London Westminster Hull Boyston Bristoll Southampton New Castle and other places The places of residence of these Merchants both within this land and beyond the seas were called the Staples the Lawes and Ordinances made by the said Merchants were called Staple Lawes vnder their gouernement consisting of a Maior two Constables and other Officers hath the trade of this Kingdome time out of mind flourished to the great inriching of the Kings and Kingdomes and it hath beene supported and assisted by the wisedome of the State in all ages as may appeare by the seuerall Acts of Parlement made for that purpose in the times of Henrie the third Edward the third Richard the second Henrie the fourth Henrie the fifth Henrie the sixth and King Henrie the seuenth So that comprehending the Merchants aduenturers Societie with them which began in the said time of King Henrie the seuenth it is aboue foure hundreth yeares standing that the said Societie hath beene as we haue noted For by the prouidence of all those Princes the Staple Trade was from time to time established and especially by King Edward the third in whose raigne a great number of memorable Lawes were made for the purpose appointing the said officers and their fees to preuent extortion and all the Kings subiects that would bring their goods to the Staple and trade The ancient free Trade according to the Lawes and Ordinances thereof were admitted to be Merchants such was the free trade of this kingdome in those daies wherein the subiects of all sorts vpon all occasions might freely participate vnder gouernment At these Staples were the Kings Customes duely collected and by the officers of the Staple at two seuerall times paied into the Kings Exchequer and by their gouernment were many inconueniencies preuented whereby the former causes of the decay of trade were either moderated or reformed namely 1 The moneys of the Realme were required to bee answered in true exchange according to their intrinsike value and their Doller or other forraine coyne was by the Maior and Constables valued accordingly for there was no merchandising exchange vsed neither were Bankers knowne and when there wanted money in the kingdome or was like to want order was taken by them to import Bullion either the 1 â— or 1 â— part of the value of commodities exported The debts betweene Merchants were transferred or set ouer by bills to bee registred before the Maior or Constable which was currant without the strict proceedings of our Common Law And the like may be done now by a Register authorised by his Maiesties letters Parents 2 In those dayes vsurie was accounted to bee an abominable thing for it was not vsed by any course politike but seeing it is now so generall in all countreys the best remedie to abate the same in price is to procure plentie of money within the Realme by the meanes before mentioned which will bee more effectuall of course than any law that will be deuised for the moderation thereof 3 To auoide the litigious suits in law the said Maior and Constables of the Staple had authoritie to determine them with all expedition and if it were vpon a difference betweene a Stapler and a Merchant stranger there were two Merchants strangers admitted and ioyned with the Maior or Constables to determine the same and that with a present execution without delay especially vpon a Statute Staple acknowledged before the Maior or Constable as aforesaid 4 The fishing Trade was not preoccupied by forrain nations as it hath beene within these hundreth yeares as hath beene noted albeit such Ships as were permitted to fish in the Kings Seas and dominions payed six pence for euerie tunne burthen which is now eighteen pence and this trade might be established with vs notwithstanding that the seuerall Societies of the Merchants Aduenturers Russia and Eastland Merchants are of opinion that England cannot maintaine the same and the cloth Trade together as they haue certified 5 The indraping of wooll or making of cloth being of late much increased beyond the Seas and lesse cloth made with vs may giue the better meanes to establish the fishing Trade as aforesaid 6 The pollicies of Merchants of seuerall countries is to bee met withall as the Staplers did in times past looking to the sales both of woolls and all other Staple commodities and the prices of forraine commodities to preuent the ouerballancing in price of the said forraine wares with our natiue commodities 7 To preuent the false making of cloth let vs obserue that at these Staples Merchants goods were alwaies diligently and carefully viewed and subscribed by the Correctors and other Officers of the Staple to the end that all goods exported might bee answerable in goodnesse to their expectation vpon the view required whereby this Staple Trade continued without any interruption for they were the sole Merchants of the Realme without competitors vntill the time of King Henrie the fourth at which time certaine Mariners and Mercers of London vsing to barter English clothes in Holland Zealand Brabant and other places had by the said King Henry the fourth a gouernour set ouer them onely to bee a iudge to heare and decide their controuersies and to punish their misdemeanors with license that they might congregate themselues for that