is 5 pound and of 25 pound more for one yeare which is 2 pound 10 shillings all 15 pound which together maketh the 140 poūd as aforesayd But when monies are repayed in this maner as it were by way of anticipatiō then the body of your summe of 100 pound is deuided and still time and vse or interest must concurre For you may not deliuer out 300 pound for 3 yeares to be repayed by 100 pound yearly and receiue the first yeare 130 pound the second yeare 120 pound and the third yeare 110 pound but you must receiue the first yeare but 110 pound the second yeare 120 pound and the third yeare 130 poūd because you haue not forborne your mony for any longer time proportionably according to your contract and agreement And the property of the interest money is not altered effectually according to the law for 10 pro 100 for one yeare is the Cubicke roote which doth increase decrease both wayes proportionably Yet some will say Suppose that I haue 3000 pound in mony to deliuer at interest are not my 3000 pounds worth 300 pounds at the years end and may not I lawfully receiue that 300 pounds any part of my principall continue the rest for one other yeare and so do the like for more yeares Who doubteth thereof So that you do make new contracts or agreements from yeare to yeare wherby the property of the interest money becommeth effectually altered according to the law as aforesaid your mony from the beginning being deliuered out but for 1 yeare But if you do deliuer your 3000 pound from the beginning by one sole contract or agreement for sixe yeares to be repayed yearely and receiue 550 pounds the first yeare that is to say 300 pound for your interest and 250 pound for part of your principall then do you incurre the danger of the Statute For in this which is for a more summe and a longer time there is the like reason as there is with a lesse summe and and a shorter time as by the former example of 100 pound is declared And as there is more gaine when money is deliuered out for three moneths or lesse time and so continued from time to time within the yeare then when mony is deliuered out for one yeare so is there more gaine when money is deliuered out for one yeare and continued by new agreements from yeare to yeare then when it is originally deliuered out for 6 or more yeares agreeing with the rule of Geometriall delineation and Arithmeticall proportion Wherefore he that should say what reason haue I to put out my money for one yeare and to haue but 10 pro 100 when I may put out the same for three moneths or a shorter time and take aboue 10 pro 100 speaketh vnaduisedly for he must do it according to occasion Reason also requireth that there should be difference betweene mony deliuered out for one yeare and money deliuered out for more yeares according to the Statute For he that receiueth his interest in this manner as aforesaid hath an ability giuen him to put out that interest money to vse also vnto another whereby he hath interest vpon interest though not of the same party and therefore in equity is not to take it of two parties So that euery man must take heed not to put out money for a longer time and for seuerall yeares and to reckon interest thereof as if he had from the beginning deliuered out his money but for one yeare and so continued from yeare to yeare reckoning interest vpon interest as many do through a couetous desire in daunger of the branch of this Statute which must and may be most strongly and strictly construed against them both directly and indirectly as aforesayd But to speake properly and effectually concerning vsury let vs not only dispute de lana Caprina but seeke to qualifie the extreame dealings of those that do feede vpon the sweate and labour of the poore by taking and that vpon pawne whereby many times their meanes of liuing are hindred twelue pence for the lending of 20 shillings for one moneth which is aboue 60 pro 100 nay whē the meere poore are glad to pay one peny for the vse of twelue pence for a weeke which is aboue 400 pro 100 by the yeare a most pernicious and damnable dealing not to be suffered amongst Christians For the reformation whereof if there were in some places the vse of a Lombard where they might find reliefe after 10 pro 100 especially in the city of London it would proue a matter very necessary and cōmendable whereas now the poore artificer doth ordinarily pay besides this horrible interest vnder the colour of brokerige or bill money aboue 20 vpon the hundreth which in small summes and that often borowed is not perceiued to amount to this biting vsury And to this effect would such money very commodiously be employed as casually would be deliuered by Gentlemen and others that would purchase an annuitie during their life as before hath bene touched Thus much concerning vsury which altereth the certainty of the price of money in effect Now let vs intreate of the very substance of the moneys consisting of matter and forme Of matter as in regard of substance we know that Princes haue their seuerall Standards both for gold and siluer which by some are allayed with more copper commonly called Allay then with others whereas the onely cause that moneys are counterfeited and falsified commeth by the commixture of the three mettals gold siluer and copper And omitting to speake of many particular Standards of Princes hauing handled that matter heretofore let vs note the opinion of Maister Bodine who to cut off all counterfeiters clippers washers cullers and falsifiers of monies would haue the mony so made that euery simple man should be able to know it Concerning the proportion betweene the gold and siluer it ought to be as it is by his saying in all countries 12 to 1 whereunto he would haue made the waight finenesse and valuation answerable As for example touching finenesse if we made the monies of gold to be 23 carrats then the Standard for the siluer after two carrats of gold for an ounce of siluer should be 11 ounces ½ fine and the peece of siluer weighing an equall waight with the gold should be valued to be worth the twelft part or the gold 12 times the value of siluer as if a French crowne waighing as much as the Ryall of Spaine were valued at sixe shillings the Riall being sixe pence And the third sort of monies namely small monies he wold haue made of meere copper although saith he it were better if it were possible and commodious to haue no other money then of gold and siluer which neuer rusteth as copper doth the price of copper being also incertaine and differing in many countries During the Punicke warres one pound of siluer was worth 840 pound of copper afterwards through the
that they most reuerently saluted the most vile and most abiect of them for Lords iudging them by their wearing of golden chaines to be bondmen yea you should haue seen children also that had cast away their pearles and precious stones when they saw the like sticking vpon the Ambassadors cappes digge and push their mothers vnder the sides saying thus to them Looke mother how great a lubber doth yet weare pearles and precious stones as though hee were a litle child still But the mother yea and that also in good earnest Peace sonne saith she I thinke he be some of the Ambassadours fooles Some found fault at their golden chaines as to no vse or purpose being so small and weake that a bondman might easily breake them and againe so wide and large that when it pleased him he might cast them off and runne away at libertie whither he would But when the Ambassadours had bene there a day or two and saw so great abundance of gold so lightly esteemed yea in no lesse reproch thē it was with them in honour and besides that more gold in the chaines and gyues of one fugitiue bondman then all the costly ornaments of them three was woorth they beganne to abate their courage for very shame laid away all that gorgeous array whereof they were so proud Which in effect is as much as to accommodate and fashion himselfe to the manner and fashion of the countrie being also grounded vpon estimation although of baser things which is to preferre earthen and glasse vessels wherein they eate and drinke as he saith before gold siluer other precious things But if all the wit and wisdome of man were as yet to deuise what thing would be fittest to set a price vnto all other things and to be as a iust measure and proportion betweene man and man in the trade and traffick of things they could not find any thing more proper then pure gold and other mettals accordingly The foure elements haue such an equall proportion in gold that none is predominant ouer the other whereby all corruption is excluded whether you take the same according to the qualities of hote and drie cold and drie hote and moist and cold and moist with Galen or according to the substance of the elements drawne into salt sulphure and mercurie with Paracelsus For it neuer wasteth or consumeth by fire and the more it is burned the purer it is which cannot be said of any other mettall there is no rust or scurfe that diminisheth the goodnesse or substance thereof it abides the fretting and liquors of salt and vineger without damage which weareth any other thing it needs no fire ere it be made gold for it is gold assoone as it is found it draweth without wooll as it were wooll and it is easily spread in leaues of maruellous thinnesse you may adorne or guild any other mettall with it Neither is it inferiour vnto any other mettall to make vessell and curious workes it defileth not the thing it toucheth as siluer doth wherewith you may draw lines it resembleth in colour the celestiall bodies and it is medicinable and bringeth gladnesse to the hart of man it is fit also to be cut or deuided into many peeces to make mony and goeth into a litle roome being easie and 〈…〉 table to auoide the combersome 〈…〉 age of Commodities from one countrie into another And what thing can be inuented or deuised that for this purpose hath all these qualities and properties With great reason therefore hath gold his due estimatiō aboue other things Also such things wherein the art of man is illustrated as in pictures other curious works are worthie of great commendation and to be preferred before many other things that man doth vse for to liue in the most ciuille maner aboue other nations which liue barbarously In all which the generall care of the Prince must be and the particular regard of the subiect that the same bee done for the good of the Common-wealth so that the expences thereof do not surmount the incomes or reuenues hauing a due consideration of the moderate vse of forraine Commodities and at reasonable rates according as the price and vtteranc 〈…〉 of our home Commodities both 〈…〉 victuals and other wares without studying how to liue without the trafficke and commerce with other nations seeing that God caused Nature to bestow and distribute her benefits or his blessings to seuerall Climates supplying the barrennesse of some things in one countrie with the fruitfulnesse and store of other countries to the end that interchāgeably one cōmon weale should liue with another Concerning the last cause of the dearth of things by the alteration of mony wherein Maister Malestroit had a certaine good purpose if he could haue proued the same to haue bene in France Maister Bodine concludeth that the price of things is not altered by the valuation of monies in sort by him alleaged and yet that things are grown deare which only thē cometh to passe by one cause which he called almost the only cause which is the aundance of gold siluer of late yeares running with vs into these parts of the world For the other causes as we haue noted before make particularly some things deare but not generally all things And for asmuch as we haue spoken hereof in answer of the Paradoxes of Maister Malestroit therefore we passe ouer it and come to the examination of the remedies which Maister Bodine alleadgeth which do onely tend to remedy things in particular being well considered of He saith that the abundance of gold and siluer now a daies more then in times past must partly excuse the dearth of things which being so it followeth that this is not to be taken as a remedy nor yet as a true cause of the dearth of things for what coherence is there to alleage a matter as a remedy against the dearth of things when this remedy as I haue shewed before is the only cause of the dearth it selfe as he saith which must excuse the same which excuse being admitted in defence thereof doth consequently proue that things are not growne deare to our hurt in particular or to the preiudice of the Common wealth in generall because that hauing more gold and siluer then we had heretofore we are made able to giue more then before And if we will say Take away the cause and then the effect will cease that is to say Take away or diminish the abundance of gold and siluer and then things will become better cheape this wold be a very great absurdity For as he is a foolish Phisitian that cannot cure his patients disease vnlesse he cast him in another sicknes so the Prince that cannot gouerne his subiects but by taking from them the wealth and commodity of life must needs graunt that he knoweth not how to gouerne mē A prouident and wise Prince therefore will rather conclude thus Are things growne deare through the abundance of gold
ENGLANDS VIEVV IN THE VNMASKING OF TWO PARADOXES With a replication vnto the answer of Maister Iohn Bodine By Gerrard de Malynes Merchant Opposita iuxta se posita magis apparent ANCHORA SPEI LONDON Printed by Richard Field 1603. To the right honourable Sir Thomas Sackuile Baron of Buckhurst Lord high Treasurer of England Knight of the most noble Order of the Garter and one of the Lords of her Maiesties most honorable priuie Councell G. de M. wisheth all health increase of honour and euerlasting happinesse THESE two Paradoxes right honourable hauing bene presented vnto the French King as a meane to qualifie the generall complaints of the dearth of things in France by prouing that nothing was growne dearer in three hundred yeares were answered by the famous M. Iohn Bodine who dedicated his aunswer vnto the President of the high court of Parliament of Fraunce as a matter of great consequence and considerable in the gouernment of a Common-wealth Hence proceeded that resolution which emboldened me to present vnto your Lordship the substance of both their writings with all their arguments and propounded remedies to the end that in the ballance of your graue wisdome they may be weighed with my Replication thereunto shewing how things are to be considered of for the good of a Common-wealth Your Honors iudgement shall easily perceiue that the Paradoxes are opposite and do contradict one another besides the slender and weake ground of their foundation as also that Maister Bodine hath mistaken the true ground of the matter by comparing the prices of things within themselues in a Common-wealth whereas the comparison must be betweene the home Commodities of one Common-wealth and the forraine Commodities of other nations and that either by way of permutation of Commodities for Commodities or by Commodities for money in specie or by exchange So that a due consideration must be had of the course of Commodities Money and Exchange which are the essentiall parts of all trade and trafficke Wherein must be considered the end of all Merchants which is Gaine and profite at which scope they ayme according to their profession and practise some by Commodities some by Money some by Exchange some by all three or that which yeeldeth them most gaine For as money doth rule the course of Commodities so the exchange for monies doth both rule the course of moneys and Commodities By the disorder wherof it happeneth that the riches of a Common-wealth doth so much decrease as it is not alwayes in the power of the wise that haue the managing of the gouernement thereof to make choice of the best and to banish the worst but must not only obey the tempest and strike sailes but also cast ouer boord some precious things to saue the ship and bring it into a safe port and afterwards by degrees ouercome greater things changing the estate thereof from euill to good and from good to better which otherwise might haue bene preuented in the beginning by remouing the causes thereof To your most honorable iudgement I referre the consideration of all and pray the Almightie to haue your Honor in his diuine protection And so in all humility I take leaue London this 16. of Ianuarie 1603. Your Lordships most humble and in all dutie bounden GERRARD DE MALYNES Englands view A SENTENCE alleaged without application to some purpose is to handle a matter without conclusion and he that will attribute vnto any man the knowledge of the essentiall parts grounds or pillars of any science must make apparant proof therof otherwise his assertion is like cloudes and winds without raine or like an arrow shot at randon Quòd oportet patrem-familias vendacem esse non emacem is a worthie sentence to be duly executed of al good housholders or fathers of families especially of Princes that are the fathers of the great families of Common-weales who as Iustinian saith are to prouide carefully for the two seasons namely the time of warre when armes are necessarie and the time of peace more fitting wholesome lawes in both which it cannot properly be said that the office of a Prince is wholy employed about the gouernment of the persons of men and of things conuenient and fit for the maintenance of humane societie according to the definition of the heathens but rather in the obseruation of Religion towards God and administration of Iustice towards man the one teaching vs especially of the life to come the other how we should liue in this life Religion doth knit and vnite the spirits of men wherby they liue obediently in vnitie peace and concord and Iustice is as a measure ordained by God amongst men to defend the feeble from the mightie Hence proceedeth that the causes of seditions and ciuill warres is the deniall of iustice oppression of the common-people inequall distribution of rewards and punishments the exceeding riches of a small number the extreame pouertie of many the ouer-great idlenesse of the subiect and the not punishing of offenders which bringeth destructiō of Common-weales Religion doth teach the feare of God which maketh a good man and is indeed the beginning of a Prince For sith Princes raigne by wisedome and that the feare of God is the beginning thereof we must conclude that it is the beginning also of a vertuous and wise Prince Now as Princes raigne by God so must they be directed by him yea they raigne best and longest that serue him best and most Serue him they cannot but according to his will and his will is not known but by his word and lawe which made the Prophet Dauid to meditate therein day and night preferring the cause of faith or religion before temporall commoditie And this is properly the first and chiefest point that the Prince is to regard whereunto the other is annexed and doth depend vpon For as iustice is administred and prescribed by lawes and customs so reason requireth that this gradation should be obserued concerning all lawes that euen as the wils contracts or testaments of particular men cannot derogate the ordinances of the Magistrates and the order of the Magistrates cannot abolish customs nor the customes can abridge the generall lawes of an absolute Prince no more can the lawes of Princes alter or chaunge the lawe of God and Nature By iustice properly called Distributiue is the harmonie of the members of a Common-weale maintained in good concord howbeit much hindred where vsurie is tollerated which giueth cause of discord some few waxing thereby too rich and many extreame poore the operations of effects whereof are declared by me vnder certaine Similies or Metaphors in the Treatise of Saint George for England By iustice properly called Commutatiue is the cōmerce and trafficke with other nations maintained obseruing a kind of equalitie which is requisite in euery well gouerned Cōmon-wealth where prouidence and pollicie cause the Prince the Father of the great familie to sell more then he buyeth or else the wealth and treasure of his realme
rentes leauied vpon the citie of Paris are brought to amount vnto 3 millions and three hundred and fifty thousand pounds tournois yearely And the citie would be much richer if there were a house as at Genes called the house of S. George which taketh al the money that men will bring after the rate of 5 vpon the 100 and doth deliuer out the same to the merchants to trafficke therwith after two and three vpon the hundred like as the great Emperours Antonie and Alexander Seuerus did which did deliuer mony at 4 per 100. And Augustus deliuered mony freely without interest to them that wold giue sureties to restore double the value if they did not pay it at the time limited By these means their subiects got much and Princes were not driuen to borrow or to pill their subiects but did rather diminish their imposts And so he concludeth that the aboundance of gold and siluer is the cause partly of the derth of things The second cause of the dearth of things namely the Monopolies he doth passe ouer as a matter not considerable to the things intreated of which is saith he when merchants artificers or laborers do assemble thēselues to set a price vpon the Commodities or their handiworke with the augmēting of wages For the preuenting whereof hee commendeth the abolishing of their fraternities or companies procured by the meanes of their Chauncelor The third cause of the dearth by the want of things commeth to passe by the excessiue trade of the things and by the wast thereof It is certaine saith he that we haue our corne and wine better cheape during the warres with the Spaniard and Flēming then after the warres when the trade is permitted For the husbandman being driuen to sell and to make money of his wares and the gentleman finding the same perishable when the merchant dare not lade his ships bringeth downe the price of Commodities and maketh the people to liue good cheape which according to the Prouerbe Fraunce can neuer be famished would alwaies continue if by the means of the stranger their storehouses were not emptied The Spaniard doth buy and transport their corn before it is ripe because his countrey except Arragon and Granado is of great sterilitie therfore haue the corn merchants great priuiledges for bringing corne vnto them and are onely licensed to export mony for the same From the Spaniard saith he we haue but their oyles and spices and yet the best drugges come vnto vs from Turkie and Barbarie From Italie we haue their allumes some silkes and other Commodities Oyles we may haue within our dominions of Languedock and Prouence more then we do need and there are as good silkes made with vs as at Florence and Genes Touching allumes if we would cut the veines of the Pireney mountaines we should find an infinite number of allume and copresse as hath bin sufficiently proued whereas France doth spend farre aboue the value of one million thereof yearely and the wast of things is incredible The fourth cause of the dearth of things proceedeth from the pleasure of Princes which do impose a price vnto the things which they affect For it is a generall rule in state matters that Princes do not onely giue lawes vnto their subiects but also as Plato hath noted they do chaunge by their example the maners of men To which purpose he doth vse the example of their king Francis the first who being hurt in the head caused his haire to be cut off wherin the people did presently imitate him as following the will of Princes praising that which they do commend We haue seene at one time saith he three great Princes striuing as it were who should haue the most learned men and best artificers namely the great king Francis the first Henry king of England and Pope Paul the third in such sort that the king of England could neuer haue the learned and reuerend Beda and the French king did pay 72 thousand crownes for a Diamond rather then king Henry should haue had the same Presently the Nobilitie and the people did giue themselues to studie and to buy precious stones and whē king Henry beganne to make litle account of the stones their generall estimation and price was abated wherof there are many examples in like sort for the art of painting The Princes of the East and Alexander the Great had brought them into such credite that a picture of Venus issuing out of the waters which Apelles had made was bought for 60 thousand crownes Alexander gaue for his 200 talents that is 36 thousand pound starling Apelles himselfe made no difficultie to buy a picture of Protogenes for 50 thousand crownes concluding with other examples that the pleasure of Princes maketh things deare as aforesaid And so returning to the wast or consumption of things wherein their example is also imitated he doth reprehend the cutting of silke vpon silke or any other stuffe so that it can serue but once for one person which caused the Turkes to call vs mad men And further he findeth fault that our Lackies and seruants are apparelled therwith and that so much stuffe is put into the apparell disguising with new fangled fashions the proportion of our person or bodie contrarie to the ancient modestie when as the fashion of the apparell will many times cost more then the apparell itselfe To this is linked the desire of costly houshold stuffe and daintie and delicate fare of al sorts of meate and drinke whereof he alleaged examples which are better cōcealed then spoken of for they bring with them all licentiousnesse and excesse as a spring of vices of the calamities and miseries of a Common-wealth If any man shold here obiect saith he that if things did still become dearer partly through the wast and partly also for the abundance of gold and siluer no man should be able to liue because of the dearth it is true But the warres and calamities happening to a Common-wealth do stay the course hereof as we may see that the Romaines haue liued with great scarcitie and to speake properly in great miserie almost fiue hundred yeares when they had but copper monies of a pound waight and without stampe vntill king Seruius and they made no siluer monies but 485 yeares after the foundation of Rome and 62 yeares after they made monies of gold And here he taketh occasion to compare the price of things altered during the gouernment of the Romaines and the lawes made by them for the suppressing of abuses and that all their gold and siluer came vnto them in a hundred and twentie yeares by the spoiles of all the world which was brought to Rome by the Scipions Paul Aemylius Marius Sylla Lucullus Pompey and Caesar especially by the two last For Pompey did conquer so much land as made the reuenue of the Empire to come vnto 8 millions and one halfe of crownes Caesar notwithstanding all his expences prodigalities brought to the
treasurie 40 millions of crowns hauing giuen at one time vnto Paul Consull 900 thousand crownes for to hold silence and vnto Curion Tribune 1500 thousand crownes to take his part Marke Antonie went further if it be true that which Plutarch and Appian haue written for he gaue vnto his armie for their seruice done 200 thousand talents being 120 millions of crownes which is to be credited seeing that the Emperour Adrian for to haue the goodwill of 40 legions gaue ten millions of crownes So that we may here see abundance of gold and siluer at Rome but it did not last euer for in lesse then 300 yeares the Parths Goths Hercules Hongers and other cruel nations did ouercome the Empire all Italy and ouercame the Romains burned their citie and tooke the spoile of them The like doth happen vnto all Commonweales to wax and increase by litle and litle and to flourish for a time in wealth and power and afterwards to grow old and decline vntill they be vtterly ruinated and destroyed Comming to the last cause of the dearth of things by the alteration of mony he sheweth how Master Malestroit hath mistaken the matter in the monies themselues made within 300 yeares For whereas he saith that S. Lewis caused the first sols to be coyned worth twelue deniers whereof 64 peeces went to the marke and that in Philip de Valois his time the crowne of the Flower-de-luce without number as good as the crowns now was valued but 20 sols and that afterwards king Iohn caused the franks to be made of fine gold which were but valued 20 sols and that the sols of siluer of that time was worth fiue of our sols he doth not say of what weight or finenesse the monies were in those daies And touching the last point he doth contradict himselfe for he doth acknowledge that the old crown weighing three penny weight is no more worth then 60 of our sols so that the auncient sols of fine siluer can be worth but three of them and yet the frankes of gold do weigh lesse by foure graines then the old crowne and are no better in finenesse then the other And by the proclamation of the yeare 1561 the old crowne is valued at 60 sols and the franke at 50 sols which if his proposition were true and that it were fiue sols for one then would the old crowne be by this proportion valued at 100 sols and the franke at 90 sols And if Master Malestroit saith he doth take his comparison of the alteration of monies at some one time in any such years whē monies haue bene embased that is no consequence at all for within the abouesaid time it is manifest that the money was once so base in allay that one of our sols was worth 5 of those which were then And then he sheweth how al things were rated for their customes and how vsed within fiftie or sixtie yeares concluding that the price of things notwithstanding his former allegation is not altered by the valuation of monies But wel that things are growne deare contrary to the first Paradoxe of Maister Malestroit and that was the first point which he was to proue the second was the causes of this dearth as we haue briefly rehearsed But forasmuch saith he as some great personages do labour by words and writings that the trade should be cut off and that no Commodities shold be transported out of the realm making accompt that we could liue peaceably within our selues and very good cheape without giuing or receiuing any thing of other nations he doth reprehend them and sheweth that they haue need of the straungers and most especially of the trafficke with them Insomuch that although they could liue without them in regard of Commodities yet charitie and humanity willeth vs to maintaine friendship with our neighbours and rather to giue them part of our blessings then not to deale or to communicate with them Wherein the Romaines were much to blame who hauing extended their power from the West vnto the East did refuse to take vnder their gouernment some nations because there was nothing to be had of them whereas the greatest gift of honor that God giueth vnto man is to giue him the maiestie to commaund and to do iustice especially to the poore not being instructed But if this lesson doth not please men of this humour God hath so bestowed and deuided his graces and blessings that there is no countrey in all the world so fruitfull but hath neede of diuers things whereby he holdeth all the subiects of his Commonwealth in friendship or at the least doth hinder them to make long warres one with another And so he proceedeth to shew some remedies to the causes aforesaid The abundance of gold and siluer now adaies more then in times past must partly excuse the dearth of things saith he adding further touching Monopolies and the wast of things that in vaine are good lawes made if they be not executed especially if the king do not cause the courtier to obserue them whom the common people doth imitate whereby also many superfluous things might be auoided and not brought into the realme as is done by Italians with perfumes counterfeit stones and such trifles Cōcerning the excessiue trade of some Commodities he declareth that as the things transported cause the like to grow deare by the exportation so the things imported becom the better cheape Wherof he excepteth the trade of corne which is to be gouerned more wisely for they haue had intollerable famines for want of such a due care as Ioseph had in Aegypt The meane to preuent the same is to haue many publike store-houses in seuerall places making prouision of corne yearely by selling the old and prouiding new in place Touching the opinion of those that would haue the vines taken vp and corne sowed in the place or at the least to commaund that no vines should be planted hereafter the husbandman doth with reason laugh thē to scorne For God himselfe did so direct and dispose the nature of the ground that all should not be for corne or all wine seeing the one hath need of a fat and the other of a stonie ground And if the vines were pulled vp wee should saith hee depriue Fraunce of one of the greatest riches of the land But there is a meane propounded by those that haue vnderstanding in matters of imposts which would very much enrich the realme and releeue the common-people which is to lay part of the ordinarie charges vpon corn wine salt wood linnen cloth and draperie and most especially vpon wine salt and corne which are three elements whereupon next vnder God the life of the stranger dependeth and which can neuer faile The mines of the North and of the Indies are exhausted in a short time and the mettals cannot grow againe but our springs of corne salt wine are not to be drawne out And howsoeuer the season of the yere doth hinder them to
come to perfection yet other nations do not regard at what price soeuer they buy thē And it commeth to passe many times that salt is better cheape in England Scotland and Flaunders then in Fraunce neither can other nations take offence if impositions bee layed vpon these Commodities for they haue done the like vpon diuers Commodities of their owne And so he concludeth that by these meanes there would be the lesse transported and so the dearth of things qualified by greater store remaining within the land Another remedie against the dearth of things especially of victuals is to restore the vse of fish to his auncient credite by meanes whereof beefe mutton foule all such kind of flesh would become better cheape shewing to this purpose the commodious situation of France and the great nūber of riuers within their dominion And so with Galen he doth preferre fish before flesh for that fish is more wholesome and is neuer vnsound as the porke and hare nor scuruie as the sheepe nor lousie as the bucke neither subiect to diuers diseases as beasts are neither hath God created foure hundred seuerall sorts of fishes which doe not cost any thing to feede in vaine being almost all fit for meate whereas there is not 40 sorts of beasts and fowle fit for the nourishment of man but to eate flesh and fish together is very vnwholesome And hereupon he sheweth in what great estimation fish was in times past and that the principall banquets were made of fish as that of Caligula which did continue sixe moneths who made all the Mediterrane sea to be fished and but for varietie fowle and other meates were vsed with it The coast of Picardie where the sea is of a sandy ground saith he there the fish is flat the coast of Normandie Guienne which is stonie bringeth foorth the rockefish and the coast of Brittaine which is slimie yeeldeth the round fish as Lamprays Congers such like and yet man knoweth not from whence at one season doth come the infinite millions of Herrings about the coasts of Fraunce and England Pilcheards about Galisiea and Whales and other fishes in new-found land and other seas Commending hereupon our custome of England where men are constrained saith he to obserue fish-dayes in the weeke notwithstanding the great plentie of beasts and fowles The only meane to bring this to passe is the example of the Prince and great men whom the people will imitate Adrian a Hollander was of a poore scholer made Pope by meanes of the Emperour Charles the fift his disciple and because he did loue to feed vpon hake-fish presently all the Courtiers and his followers to please him did the like and the people also so that nothing was dearer at Rome then hake fish The example therfore is of great efficacie which inferiour men do follow of their superiours Then he cometh to the last point which may hold the price of Commodities in a certain equalitie namely certaintie and equalitie of money which for the time must not be mutable or incertaine for if it were no man could make an estate certain the contracts wil be vncertaine the rents charges taxes wages pensions penalties customs and impositions and all things else in the Commonwealth wil be vncertaine wheras the Prince saith he must be the warrant of the monies vnto his subiectes and is to haue a singular care to auoide embasing and counterfeiting And then he discourseth of some auncient monies and waights vsed by other nations and of the propertie and diuersitie of mettals and of the alteration of mony in Fraunce together with their finenesse proportion valuation which for to auoide prolixitie I do passe ouer albeit I meane to touch in part hereafter This is the substance and answer of Maister Bodine vnto these Paradoxes which he hath dedicated vnto the President of the French kings Parliament for to encourage all them saith he that wish well to the Common-wealth to continue in the studie of so good a subiect to the end that Princes which haue the power to commaund together with those that do giue them counsell may be more resolued in those things for the honour of God welfare of the Common-wealth when they shall vnderstand the iust complaints and griefes of the poore people which doe feele the smart but cannot for the most part iudge of the causes thereof and those that haue some iudgement cannot haue audience or meanes to make it knowne but by writings vnto those that can easily remedie the same But if Maister Bodine had according to his wisedome and deepe iudgment in other matters considered of these two Paradoxes he would haue made a direct aunswer thereunto before he would haue proceeded in his discourse before alleaged The first Paradoxe being considered of with the second will shewe a manifest contradiction or contrarietie For the first doth consist in giuing of more gold and siluer for Commodities now then in times past which he denyeth And the second in receiuing lesse Commodities for the gold and siluer now then in times past which he affirmeth which both waies is to be taken in nature of Permutation Now if we do not giue more quantitie of gold and siluer for Commodities then in times past how can we receiue lesse Commodities for the gold and siluer and thereby receiue a losse as in the second Paradoxe is alleaged Again if we do receiue lesse quantitie of Commodities for gold and siluer then in times past according to the second Paradoxe whereby we sustaine a losse how can the first Paradoxe be true That nothing is growne deare for that we giue no more quantitie of gold and siluer for Commodities then in times past The explanation of his intention touching these 2 Paradoxes is more absurd considering the premisses For whereas he saith that the king and his subiects do now buy al things as dere as in times past by giuing as great a quantitie of gold or siluer for it it followeth that the king and other his subiects do receiue the like quantitie of gold and siluer proportionably for their reuenues and not a payment of copper in lieu of gold and siluer as he saith considering the course of mony is all alike betweene the king and the subiect But if we will take his meaning to be that he hath excepted the Crowne landes and incomes of the king and the reuenues of Noblemen others wherof the price as it shold seeme is not altered with them like as the Crowne lands with vs which are at the auncient rent when siluer was at twenty pence an ounce which ounce is now esteemed fiue shillings how can this construction be admitted considering that he doth conclude againe in generall wordes that the losse which we thinke to haue by the dearth of things commeth not by giuing more but by receiuing lesse quantitie of gold and siluer then we were wont to haue which is by enhauncing the price of money saith he which is the
cause of the dearth of all things now and bringeth a generall pouertie to the realme A conclusion most opposite to the first Paradoxe And whereas he saith that of necessitie the embasing of the siluer monies proceedeth by the enhauncing of the gold the word Embasing must be vnderstood in price according to the proportion of valuation which is obserued betweene the gold and siluer which in those daies was 11 of fine siluer to one of fine gold But the siluer is not embased by allay or copper in aduancing the price of gold for the substance remaineth vnaltered and becommeth only abated in price in regard of the gold Now if Maister Bodine had not shewed before that Malestroit hath mistaken himselfe in the setting downe of the enhauncing of money in price and the embasing by allay wherby the gold monies by him alleaged to be risen from one to two and a halfe and three in price and the siluer monies from one to 5 we might haue examined this proportion betweene gold and siluer according to his allegation and therby made knowne that he had mistaken the matter as well in the alteration of monies in valuation finenesse and waight as hee did the whole ground of his Paradoxes For hauing lost the line wherewith he went into the Labyrinth of monies and their property he is like vnto a man who hauing lost his way amongst the woods the further he goeth the more he erreth from the right way Maister Malestroit might haue declared his intention in two words if he had had the true ground and vnderstood the matter he went about by prouing onely that when monies do alter in waight or in finenesse or in valuation or in all three the price of things doth alter onely by denomination if the valuation be made accordingly As for example an ounce of starling siluer was deuided heretofore by the kings of England in 20 peeces and so valued 20 pence euery pennie in value waighing a penny waight This ounce in processe of time as we haue shewed elsewhere was deuided afterwards into 30 peeces then 40 peeces 45 peeces and now 60 peeces so that a pennie waight of starling siluer is now three pence and the peece is only altered in name for a three pennie peece waigheth but a penny waight So that the ounce of siluer being altered onely in denomination the price of Commodities must needs receiue the like name or denomination And if the price of Commodities were not risen aboue this estimation of three for one then M. Malestroit might haue made good his first Paradoxe howbeit failed in his second Paradox Again let vs suppose that the Queene of England should reduce the valuation of an ounce of starling siluer vnto 20 pence presently the price of things would be altered accordingly and that for which we giue now 3 pence should but beare the name of a pennie which would seeme to be better cheape and yet would not be so in effect For we should giue still the quantitie of siluer of three pence albeit the name thereof were altered and therefore not better cheape True it is that the Queene should receiue for her incomes and reuenues of Crown lands such a quantitie of gold and siluer as her predecessours did in times past and Noblemen and others in like sort for their lands and officers for their fees being after the old rent and custome But this reduction wold proue very preiudiciall considering that other Princes haue enhaunced the price of their monies which doth carie a shew of gaine in the eyes or iudgement of most men which are thereupon inclined to carie money vnto thē albeit the price of the Cōmodities of those Princes dominions doth not onely counteruaile that supposed gaine in the generall course of trafficke but also farre surmount the same But the money with vs not being altered in waight finenesse or valuation within these fiftie yeares in which time the price of Commodities is so much altered how can the first Paradoxe take any place And if his second Paradox had bene of a true ground what reason hath any man to measure things present with the things of former ages so long as there is no alteration of the money almost within the age of any man For if aboue fiftie yeares past I haue receiued an angell of such waight and finenesse as the angels now adaies for ten shillings and do pay out the same againe for ten shillings there can be no losse although I should receiue lesse quantitie of Commodities for the same which if I do I cannot attribute the losse thereof vpon my angell but rather to the dearth of Cōmodities the mony not hauing bene altered within my time King Henry the 8 in the beginning of his raign did find the ounce of starling siluer to be valued at 40 pence the price of Commodities accordingly the money being in weight and finenesse according to the auncient standard of England at which time the monies of other countries adiacent was not so much aduaunced in price For an angell being in his time valued at 6 shillings 8 pence was then woorth beyond the seas 9 shillings 7 pence and the siluer money accordingly Afterwards towards the latter end of his raigne vpon especiall occasion he caused all his mony to be embased by allay of copper and made very base money whereby the price of all Commodities was aduaunced So that the money being altered in substance was the cause to aduaunce the price of Commodities albeit that afterwardes when to her Maiesties great honour the substance of mony was reduced to her former puritie and finenesse had not the like effect which seemeth to contradict our matter in hand But we must note here that there is a coherence to be considered of in the mony betweene the weight finenesse and valuation whereby if generally either of these be altered all things do alter in price accordingly but if it be altered in part with due consideration it hath not the like effect or operation King Henry did alter the finenesse of the mony by allay of copper and withall did aduaunce the valuation of an ounce of siluer frō 40 pence vnto 45 pence and the gold accordingly accounting one of fine gold to 11 of fine siluer whereby an angell was worth 7 shillings 6 pence The money being brought to the former goodnesse in her Maiesties raign would haue abated the price of other things accordingly had not the valuation bene altered and counteruailed the same together with the increase of money For this ounce of siluer aforesaid was valued at 60 pence and that which before did beare the name of 45 was called 60 which denomination caused al other things to remaine at the old price whereunto they were come through the basenesse of the money before that time Now before we conclude it is worthie the noting that when in this kings time the angel was woorth vnder the Archduke of Burgundie 9 shillings 7 pence the King
did send vnto the Duchesse whiles her husband was in Germany desiring her to value the angell at 10 shillings Flemish but he could not obtaine the same Which seemeth very strange considering that the aduancing of the price of money doth cause the money to be transported to the places where it is aduaunced whereby all the angels might haue bin caried into her dominion But she like a wise and politicke Duchesse caused the matter to be examined and considered of sending men skilfull in mint causes into England And finding that the golden fleece aliâs Toison d'or was the money then most currant with her and that the same was worth both in regard of waight finenesse asmuch as the angel was also valued at 9 shillings 7 pence she could not graunt the kings requests without altering also her money vnlesse shee would haue suffered the English merchants to bring angels vnto her for 10 shillings and to carie away the golden fleeces for 9 shillings 7 pence to be conuerted into angels to the great losse of her dominions both in the money and to leaue the Commodities of her country vnuented so long as there were a gaine vpon the mony which abated the price of cōmodities These two Paradoxes being thus vnmasked are easily conceiued of any man of iudgement to be far from the truth and therefore will the vnderstanding thereof be accounted a matter of small moment as all things else are when they be known like vnto the egge of Columbus who hauing discouered the West Indies and hearing some say at a dinner that if he had not done it another might and wold called for an egge and willed all the guests one after another to set it vp on end which when they could not do he gently bruising the one end of it did make it flat or rather by swinging did breake the yolke within and so set it vp shewing how easie it was to do that which a man had seene done before him Now let vs examine the answer of Maister Bodine Maister Malestroit was of opinion That nothing was growne dearer in three hundred yeares as is before shewed But Maister Bodine was of a contrarie opinion and sheweth fiue causes of the dearth of things as we haue also declared Whereunto for a generall and direct answer by way of Replication we say that to shew the alteration of the price of things and the causes therof is of small moment the true ground of the matter being by him mistaken Which true ground must be by making a comparison of the enhauncing of the price of the Commodities of one countrie with the price of the Commodities of other countries and thereby to find out whether things are grown deare with vs in effect and whether we pay more proportionably for the forraine Commodities within the aforesaid time of three hundred yeares then we doe receiue for the price of our home Commodities For if we do now pay more for corne wine and all other victuals and sell our Commodities for more then we were wont to do proportionably here is no alteration in effect but in name onely so long as the substance of the money is not altered in propertie But if we sell our Commodities dearer and buy our victuals dearer then heretofore and that ouer and aboue the price thereof we must pay farre dearer for the forraine Commodities then proportionably the price of our Commodities is risen this causeth vs to be aloser in particular and bringeth by an ouer-ballancing of forraine Commodities with our home Commodities a generall losse to the Common-wealth which to supply causeth vs to make vp the inequalitie with mony which is the treasure of the realm The consideration then must be not to compare things within themselues in the Commonwealth where we do liue but betweene vs and other nations with whom we deale either by way of permutation of Commodities for Commodities or Commodities for money in specie or by exchange So that we must examine the course of Commodities Money and Exchange which are the three simples vnder the which all the trade and trafficke is performed whereof we shall intreate when we shall haue examined the matters by him alleaged in particular The fiue causes of the dearth of things by him alleaged are to be distinguished according to our forme obseruation For the first last cause concerning plentie of gold and siluer and the alteration of the valuation of money may be causes that generally things are deare But the other three touching Monopolies the want and wast of things and the pleasure of Princes can but make things particularly deare according to the vse thereof wherein the time maketh also now and then an alteration vpon occasion as when armes are dearer in time of warre then in time of peace victuals in time of famine wood in winter and water in desert places and such like Seeing then that plentie of money maketh not onely the Commodities of a countrie deare but that they are also Nerui bellorum the sinewes of warre euery Prince is to haue a singular care for the preseruation and augmentation therof especially those Princes that haue no mines of gold or siluer within their dominions or such as haue had them and are now without them The gold was wont to come much out of the mountaines of Boheme and riuers of Pannonia and Swaden Out of Spaine there was wont to come both out of the riuers and monntaines aboue 20 thousand pound weight yearely which is all exhausted then it came from the West Indies first from Santo Domingo and other places where it doth also cease now it commeth from Peru by certaine millions which will also take an end The siluer is brought also frō the West Indies and was much found in Germanie but is now in many places drawne out The most noble Kings of this realm haue alwaies had a singular care to accumulate treasure deeming therfore that it was neither expedient nor conuenient for them to suffer the transportation of their monies or bullion out of the same as by diuers acts of Parliament may be seene whereby it was made fellonie for the space of many yeares continuing William the Conqueror caused a description to be made of the realme and the land to be measured reseruing so much thereof as he thought conuenient for the Crowne and the rest he deuided amongst his Barons and knights who did pay him therefore a certaine summe of money whereby he did gather a treasure Henry the second succeeding him within one hundred yeares hauing had many great warres and ioyned Ireland to the Crowne of England conquering also Scotland and reducing Normandie and other places in Fraunce to the Crowne and hauing raigned 35 yeares had neuer cause to impose any tribute subsidie or taxe vpon his subiects and left notwithstanding behind him in treasure 900 thousand pounds which in those daies was not only a great matter the West Indies not being discouered but also for
the realme being conuerted into money as well as he had lost his money before that time M. Bodine doth shew by diuers exāples that there was not so much siluer gold in times past 300 yeares ago as there is now he might wel haue said in 100 yeares and lesse howbeit this generall examination is to smal purpose For euery Cōmonwealth is to make a particular examinatiō whether they do proportionably participate of the general abundance or plentie of gold and siluer found now adaies and not by cōparing the same vnto the quantitie of times past for so should they be deceiued And we neede not to proue that there is now more gold and siluer then in times past for it is cleare in euery mans iudgement And euen of very late yeares we find recorded in our Chronicles of England that during the gouernment of the most victorious king Henry the eight in the 14 yeare of his raigne in a Parliament then holden the whole substance of London was not taken to be worth 20 hundred thousand pounds this citie being the head of the realm where the wealth is heaped vp as the corne of a field into a barne And in the yeare following vpon the demaund of a subsidie of foure shillings of the pound it was proued that the same demaund amounting to 800 thousand pounds was more then all the readie money and plate of the realm came vnto which was out of the kings hands and yet did amount but to about one hundred marke a parish not reckoning so many parishes as Machiauell hath done but only about 12 thousand in the whole realme the spatious countrie of Fraunce containing but 27400 parishes Which readie money and plate of the realme would be now adaies found farre differing and much more and yet not proportionable to the abundance of gold and siluer found in other countries and as we may see that Maister Bodine hath noted of the city of Paris and of the many millions which haue come from the West Indies whereby the realme should be stored with sufficient treasure and wealth For as he called their salt to be a Manna so may we call our cloth lead tinne which be our staple Commodities most necessarie for the behoofe of man And therefore ought this with vs to be the first cause of the increase of the wealth of the realme the rather for that in the second cause which Maister Bodine noteth to be The increase of people we are not proportionably inferiour vnto them as we may iudge by diuerse causes namely First for the mariage of the Cleargie Secondly by the people driuen into the realme for Religion by the wars of other countries Thirdly the seldome plague or mortalitie Fourthly the seldome famine Fiftly the small warres of countries adiacent or forraine warres hauing had no ciuill wars at home And sixtly the vntimely mariages of both men and women now adaies Whereby Colonies might be spared for the inhabiting of other dominions as heretofore was once taken in hand The third cause concerning the trade for Turkie and Barbarie is not onely common with vs for those countries but also with diuers other countries where the French men haue no trade at all And as for their Bankes of money they would rather be preiudicial and impouerish the realme as they are vsed then do any good as is sufficiently declared in our Treatise of Exchanges which other nations will find in time and most especially Princes that haue occasion to vse them and might well auoid them if a due care were had for the accumulating of a standing and yet a running treasure within such bounds as would stil ebbe and flow for the good of Princes and their Commonwealth Concerning Monopolies it is strange that Maister Bodine doth with such breuitie passe ouer thē shewing onely what he meaneth thereby according to the Etimologie true sense and definition of the word when merchants artificers or labourers do assemble themselues to set a price vpon Commodities which one man alone may also count when he buyeth vp all that is to be had of one kind of merchandize to the end he alone may sell the same at his pleasure The engrossing forestalling or incorporating of any Commodities or victuals is intollerable in any Common-wealth vnlesse that the trade of those Cōmodities would decay if a kind of incorporation were not vsed For whē the cōmon-people do buy generally things deare they can generally also sel their Cōmodities dere accordingly but when some particular things are deare they cannot do so Now as the effects of al Monopolies is to make the price of Cōmodities dere so must the price of things in this regard be considered betweene our home Cōmodities the price of forrain which if we will but examine within the cōpasse of 50 years that our monies haue bene without alteration as is before expressed we shall easily procure the great error or malice of those that do accuse the cōpanie of Merchants aduenturers to be a Monopoly which false imputation may be reproued by by this only that all forrain Cōmodities are dearer then our home Commodities which are not risen in price accordingly yet of late years are for the most part amended in the making the other impaired and one sort of cloth is sold at one time beyond the seas by 2 3 4 or more pounds differing in a packe one from another neither haue the merchants aduenturers the trade of cloth onely in their own hands For diuers other cōpanies of merchants are priuiledged and do transport great quantitie of clothes into forraine parts as well as they and it is free for all straungers that are in league with her Maiestie to buy cloth to transport the same at their pleasure Which reasons do concerne the effects of Monopolie Whereas for the manner of their trafficke whereby euery man tradeth particularly and apart with his owne stocke selleth by his own factor or seruant with diuers other reasons we will referre our selues to that which their Secretarie hath written of late in defence of their good orders and constitutions Concluding that as their trade is the most important and as in all traffickes the vniuersall doth gouerne the particular so the dissolution of that societie would be the vndoing of al the trade and bring a great confusion to the Realme For albeit that some would haue other nations to come and buy the cōmodities of vs within the realm for say they there is according to the Prouerbe twenty in the hundred difference betweene VVill you buy and will you sell these men haue no consideration for the maintenance of nauigatiō which is the greatest strength of the realme whose defence next vnder God consisteth most in ships and well experienced mariners that most carefully are to be prouided for Whereas also the transporting of our cloth to certaine places doth cause other nations to resort thither to buy them which may be more properly called to be VVill you
sell seeing that those nations doe bring their owne Commodities vnto our merchants to the places by them appointed which is in effect as much as VVill you buy And would not this be VVil you buy if in a dispersed and stragling manner our cloth were caried to al markets be yond the seas in seuerall places which would take away the desire of buying for he that buyeth doth it in hope of sale with a gain to the places where he intendeth to carrie the Commoditie Which Commoditie if hee knoweth to be extant in most places to be vented will quench his desire of buying and he that commeth to barter other Commodities for ours hath also the like cōsideration But let vs admit that our cloth would be aduanced in price when men shold by multitudes runne to the markets or into the countrey in all places to buy it what would be the euent of it It would not onely be sold beyond the seas with a smaller gaine and many times to losse wee being naturally inclined to make speedie returnes but we should also pay dearer for the forraine Commodities which we should obtaine by way of permutation or for the billes obligatorie of the Merchants to whom we should sell our cloth And if our merchants were cut off and that other nations should buy the cloth within the realme and so aduaunce the price therof as it hapneth most commonly in Fraunce and Spaine at the vintage time with their wines and raisins then forraine Commodities would be sold dearer vnto vs by them againe For the small gaine had vpon our home Commodities causeth vs and would cause them to seeke a better gaine vpon the forraine Commodities to the generall hurt of the realme and to the exhausting of our monies which to ballance the matter must supply the same So that the enhauncing of the price of cloth in this manner would be but an imaginarie gaine and bring in the end an exceeding losse to the generall Commonwealth whose welfare is to be preferred before any particular Cōmodity of any member therof And it were to be wished that labourers and workmens wages were augmented although our cloth should cost so much the dearer as we haue noted elsewhere and that with great regard the poore people were set on worke and by way of corporation their handiworke were vented which without incurring the compasse of Monopolie is very commendable in all Commonwealths and vsed in many countries Lastly that the Statutes concerning the maintenance of nauigation were duly executed The third cause saith Maister Bodine is the want of things proceeding of the excessiue trade of things or by the wast thereof Touching the trade of any particular Commodities of the realme we may well passe ouer as he doth and make onely our stay with the trade for corne Which if it were guided with that due consideration both for preseruation and transportation as is requisite would make plain the Prouerbe Fraunce cannot be famished to be more incident and proper to the realme of England then to the realme of Fraunce because that proportionably we haue more fertile ground for corne and that in all places of the kingdome then Fraunce hath but in some places For those countries where the vines do grow are vnapt for corne and must haue their prouision from the countries adiacent and many times out of England when our corne is thither transported being with vs too good cheap in regard of their wines and other Commodities The cōparison wherof being made and the goodnesse of our corne regarded will make manifest that to sell our wheate for thirtie shillings the quarter and other grains after the rate is good cheape and that the Prince notwithstanding may impose a great custome or licence for the transportation therof which transportation might be done moderately and according to the quantitie extant and for so much therof as might conueniently be spared if the Magistrate and those that are in authoritie had the rule of the market in such sort as the Venetians haue who by the means of the Iustices of euery prouince do know little more or lesse the quantity of corne in all places whereupon certaine substantiall men are appointed from time to time to haue a consideration of the quantitie or scarcitie therof which quantitie being known and in what places may be a direction to those that are in authoritie to consider what the realme may spare hauing a regard to the season of the yeare and making the price accordingly And when the price of corne is limited and made knowne in writing in certaine publike places on euery Monday of the weeke all ingrossers forestallers or others that buy corne to sell againe are preuented because that the price thereof is not in their owne power but by the direction of those honest men rated at all times according to the quantitie and as the haruest is distant or at hand which is so notified vnto all men as aforesaid Whereby the execution of the law for the making of the loues of bread is duly obserued without any trouble vnto the magistrate For the baker knoweth how to make his loues and of what waight deliuering the same according to the true waight by those men appointed vnto any man that doth call for it which the poore doth so well obserue for that his indigence giueth him cause that without troubling any officer he is sure to haue his penni-worth and if he shold find it wanting of his waight presently with the assistance of an Officer as it were the Constable he doth seaze vpon all the bakers bread then extant and taketh the one moitie for him and the other for the poore of the Hospitals And who would buy corne to sell againe being debarred not to sell at his pleasure or with gain and vncertaine what the price will be made by others And what baker is he that would make his loaues of a lesser waight when he must sell them by waight as aforesaid By these meanes is corne brought to the market and none may be sold but in the market and the Clerke of the market taketh notice therof and what is by licence transported is done vpon due knowledge and without defrauding the Prince of his custome To haue many store-houses in seuerall places of the realme in the principall townes is most conuenient for the preseruation of corn which when need requireth may be prouided from forrain countries when the vnseasonable times cause vs to haue scarcitie or want therof notwithstanding all the industrie and care of man Concerning the immoderate vse of forraine Commodities in wearing and wasting by cutting and putting into seuerall strange new fangled fashions we doe referre the examination thereof vnto those that haue authority to reprehend men of their actions wishing reformation where things are amisse And albeit that gay and sumptuous apparell is a demonstration of pride yet a country clowne may be as proude in a frize coat as a gentleman in a veluet
wherein the example of the Prince is predominant But leauing the matter of Commodities let vs come to intreate of monies Money as we haue said before being the rule and square to set a price vnto euery thing as being the publike measure to maintaine a certaine equalitie in buying and selling must therefore haue his standing valuation onely by publike authoritie of Princes as a matter annexed to their Crownes and dignities For they be the warrant of the monies vnto their subiects And to the end that this measure of things namely money should not be falsified by making the same generally more or lesse whereby the price of things would become incertaine if priuate men be suffered to haue the handling thereof therefore are Princes so carefull to obserue a certaintie and equalitie of the price of money from time to time Howbeit that the due regard which is to be had betweene their monies and the monies of other Princes is by some lesse regarded then the course thereof within their owne dominions being of lesse importance hauing some base money currant with the good The price of money becommeth incertaine in particular when priuate men will giue or receiue any money in specie aboue the price of their valuation imposed by the authoritie of the Prince whereby euery man vndertaketh to aduaunce still the price according as he seeth occasion to aduance his gaine by the necessitie or vse of another man that hath cause to employ the money The vse hereof is in many countries seuerely prohibited and yet another way in a manner suffered for the good of their Commonweales as those that are skilfull in mint matters do very well know The price of mony in generall becommeth incertaine when vsury is tollerated whereby one hundreth pounds are esteemed and valued in regard of time to be worth one hundreth and ten pounds and in some other countries more which was the cause that commodities were sold accordingly when dayes were first giuen for the payment thereof euery man supposing that he could make so much of his money which did proceede of his commodities This course being tollerated by the lawes of the land maketh vs to forbeare to speake hereof sparingly because Pollicy doth thinke that therby greater euils are auoided which being compared to the operations and effects of vsury written allegorically by me in another treatise may be ballanced in the iudgement of the wise Onely to the end that through ignorance merchants and others might not fall within the compasse of the Statute of vsury we haue thought good to giue them this Caueat and to make them to vnderstand the true sence and definition of the branch of tolleration of that Statute the rather for that some men do seeme to charge the makers thereof with a great absurdity For say they the Statute giueth ability for a man to take one way ten pounds ten shillings or more for the vse of one hundreth pounds for one yeare being deliuered out for two yeares and another way he cannot take ten pounds fiue shillings and lesse for one yeare but he shall be within the compasse of the Statute But if they had a due consideration that Time is properly the Iudge hereof and that they could not make the Statute without the limitation of a time certaine they would not find any absurdity therein For it was impossible to make it otherwise more certaine The words of the Statute be in effect None may haue receiue accept or take for the lending or forbearing of his or their money for one whole yeare or for a longer or a shorter time or for a more or lesse summe aboue the rate of 10 pound pro 100 yearely 37. H. 8. And this Statute to be most strongly strictly cōstrued for the suppression of all vsury both directly and indirectly as by the Statute of the 13. of her most excellent Maiestie To make it euidently appeare that of necessity Time is herein Efficient and Actiue and the rate of 10 pro 100 Positiue and Passiue Let vs suppose that you do deliuer at interest one hundreth pounds for three moneths after ten vpon the hundreth you may lawfully receiue at the three moneths end two pounds ten shillings for your interest and continue the hundreth pounds againe for other three moneths by a new contract or agreement and then receiue againe two pounds ten shillings continuing in this manner for the whole yeare by foure seuerall agreements whereby you do receiue three parts of your interest at seuerall times within the yeare which interest you may put out also to vsury and so take aboue 10 pro 100 without incurring the danger of the Satute because your agreements haue from time to time altered the property of the interest money which you did receiue and that which before was anothers is thereby become yours and thereof you may lawfully dispose againe But if you do deliuer out 100 pounds from the beginning for one whole yeare then you can haue but 10 pounds interest for the same at the yeares end with your principall for the property of the 10 pounds is not till then altered by your agreement Thus is it with money deliuered for a shorter time In like manner is it for money deliuered out for a longer time as for example One deliuereth out an 100 pound for foure yeares for the which at the foure yeares end he can receiue but 140 pound but if he do deliuer out 100 pounds for one yeare he may at the yeares end receiue 10 pounds for interest and continue the 100 pounds againe for the second yeare by a new agreement and then receiue another 10 pound and so for the third and fourth yeare Now whereas by reason of his seuerall agreements according to the time he hath altered the property of the interest mony and receiued 10 pounds the first yeare he may put out againe this 10 pound as his owne for another yeare and so haue interest thereof twenty shillings whereby he receiueth 11 pound the second yeare which being put out for the third and fourth yeare will yeeld him accordingly in like maner for the 10 pound receiued the second and third yeare which will yeeld him after the same maner accordingly So that he shall haue aboue 146 pound being thus deliuered out the body of his sum still remaining whole and being only distinguished by time which maketh the difference Againe let vs suppose that the 100 pound were deliuered out from the beginning for foure years to be repaied by 25 pound a yeare and the interest it followeth proportionably that the first yeare he is to receiue 27 pound 10 shillings the second yeare 30 pound the third yeare 32 pound 10 shillings and the fourth yeare 35 pound which maketh all but 125 pound adde vnto this the interest of 25 pound receiued in deduction of his principal three yeares before the time which is 7 pound 10 shillings and of 25 pound more in like manner for 2 yeares which
how absurd it is let the wise iudge by the difference betweene a Banker and a generall Exchanger The Banker doth draw vnto himselfe all the monies of other men making his small stocke to be infinite and the Exchanger must with his owne stocke supply other mens occasions for no man is commaunded or by Pollicie of course compelled to deliuer money vnto him The Banker doth make the price of exchanges with the correspondencie of others Bankes elsewhere at his pleasure or most aduantage the Exchanger can haue no correspondencie with other Bankes for he is limited how to deale at a certaintie in price by exchange and therefore must haue his factors or seruants at his owne charges in the places of trafficke But because it is difficult to please mens humors in the reformation of abuses which either for gaine some would haue to continue or others through ignorance do not vnderstand therefore is there another meane propounded to keepe a due course in matter of exchange without an Exchanger By a Proscription in a paire of tables to all sworne Brokers how to make the price of exchanges for all places according to value for value Which wold be easie and in effect aequum bonum as we haue declared so as a due regard be had of the circumstances of things noting alwaies this coherence that euen as plentie of money maketh with vs a low exchange and the low price of exchange is the efficient cause of the transportation of our monies that so by procuring plentie of money we do not procure therewithall the cause of exportation and hunt as it were after our owne shadow Some others haue thought this matter to be in a manner incurable or impossible to be effected now adaies considering the great trade when to speake truly the trade of our Commodities is much decayed and without that they can yeeld or giue any probable reason thereof but that the difficulties and sicknesse of the Commonwealth cannot admit it as who should say It is better to let a sicke bodie languish to death then to make him drinke an vnsauorie potion to restore him to health For mine owne part I haue thought it my dutie in regard of profession to publish and preferre sincerely according to my small talent any thing which may make for the good of the Commonwealth especially it being agreeable with the most noble and auncient lawes of the Realme wishing that other men indued with more learning and adorned with excellent vertues would be alwaies carefull to do the like in that which concerneth their profession And hereunto I haue bene the more encouraged for that since the publishing of my Treatise aforesaid and by meanes of my priuate aduice vnto diuers without boasting or arrogancie be it spoken there hath bene a better course taken by obseruing the nature of exchanges whereby great store of siluer bullion and some gold hath bene brought into the Realme for the generall benefite and good of the bringers thereof which doth put me in hope that the like vigilancie and regard will be had by diuers in the sale of our home Commodities and the buying of forraine Commodities beyond the seas with a due inspection to equitie and iustice in the course of trafficke which recommendeth vnto vs Prouidence and doth not altogether exclude Pollicie especially in respect of the gouernment of a State or kingdome in studying the way of preseruation and augmentation of the wealth thereof which cannot properly be done but by these meanes For the same cannot decrease but by the transportation of our money and treasure and by selling our home Commodities too good cheape and paying too deare for the forraine Commodities as we haue noted before To which end we are to cōpare the prices of things betwixt vs and other nations with whom we deale and not to shew the causes of the dearth of things with Maister Bodine by examining the prices thereof within the Common-wealth where we do liue without making any application thereof for the generall good of the realm for the conseruation wherof prayers and meanes are requisite at all times Veritas vnita valet