first in the 11. yeere of his Raigne and Custos Cambij infra Turrim which were both put into one mans hands by a Law made in the Time of K. Henry the Sixt so that all the precedent meanes haue beene found defectiue fruitlesse as more particularly may be proued by diuers Records and obseruations The Coppies whereof are in my custodie to doe his Maiestie all dutifull and acceptable seruice Here we are to obserue that the Statute of employment to be Defectiue appeareth more manifestly at this time when Merchants as well English as strangers haue an ability giuen 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 that money in specie and become a great Gayner thereby insomuch that if I receiue here one hundreth Pieces of 20 shillings I can send 90 Pieces to pay my Bill of exchange and put 10 Pieces in my Pocket for an ouerplus and gaine The like may be done by making ouer money from beyond the Seas to be paied here by exchange which being receiued I can Transport with 15. vpon the hundreth gaines in two moneths and lesse aduancing thereby an hundreth vpon the hundred in a yeere which exceedeth all the benefit to be made by Commodities wherewith I need not to entermeddle neither can the said Statute b e any helpe herein to anoide the same Concerning moneys which doe consist of weight finenesse Valuation it is euident that Gold and siluer are but materials and in the nature of Bullion but Ualuation is the Spirit which giueth life This Ualuation is twofold the one by the Publike Authority of Kings and Princes the other by the Merchants in the course of exchange and this is Praedominant and ouer-ruleth the Kings Ualuation for when the King hath valued the shilling piece of Starlin money at 12 pence they doe vnderualue the same at 11 pence halfe pennie or 11 pence which vnderualuation causeth the continuall exportation of our moneys and is the hinderance of importation of moneys and Bullion as wee haue so often inculcated to make the motiue stronger to produce a sufficient Remedy as followeth CHAP. V. Of the Remedie for all the former causes of the Decay of Trade HAuing hitherto obserued the Methode of the said Author in part of his Distribution in the matter and forme of Trade and therein shewed very great deformities I am now to apply the True Remedies likewise in order according to the causes alleaged which are noted by me to be tenne in number The Efficient cause of the Transportation of our Moneys is Gaine and this Gaine ariseth by the vnderualuation of our moneys in regard of the inhauncing and ouervaluation of forraine Coyne so that the cause is Extrinsike comprised vnder the said exchange of moneys and not intinsicke in the weight and finenesse of the Coyne which are considered in the course of True exchange betweene vs and forraine Nations and thereupon it followeth that neither difference of weight finenesse of Standard proportion betweene Gold and Siluer or the proper valuation of moneys can be any true causes of the exportation of our moneys so long as a due course is held in exchange which is founded thereupon Hence ariseth the facilitie of the Remedie by the Reformation of exchange in causing the value of our money to be giuen in exchange which cutteth off the said Gaine had by the said exportation and causeth in effect that the forraine Coyne beyound the Seas shall not be receiued aboue the value although the inhauncing thereof or the imbasing by allay were altering continually For take away the cause Gayne and the effect will ceasse All men of common vnderstanding when they doe heare of the raising of moneys beyond the Seas are ready to say we must doe the like for they conceiue the saying of Cato Tu quoque fac simile sic Ars deluditur Arte to be a proper application hereunto but they doe not enter into consideration what Alterations it would bring to the State and that the matter might runne Ad infinitum as shall be declared But let vs suppose that this will be a sufficient Remedy to inhaunce our moneys as they doe theirs to imbase our Coyne as they doe theirs and to imitate ouerualuation and vnderualuation of Gold and Siluer as they doe requiring a continuall laboure charge and innouation is it not an excellent thing that all this can be done by the course of exchange with great facilitie And that without inhauncing of our moneys at home or medling with the weight and finenesse of the Starlin Standard This is to be done only by his Maiesties Proclamation according to the Statutes of exchanges prohibiting that after three moneths next ensuing the same no man shall make any exchanges by Bills or otherwise for moneys to bee paied in forraine parts or to be rechanged towards this Realme vnder the true Par or value for value of our moneys and the moneys of other Countries in weight and finenesse but at the said Rate or aboue the same as Merchants can agree but neuer vnder the said Rate which shall be declared in a paire of Tables publikely to be seene vpon the Royall Exchange in London according to the said Proclamation and the said Table shall be altered in price as occasions shall be ministred beyond the Seas in the generall Respectiue places of exchanges either by their inhauncing of moneys by valuation or by imbasing of the same by Allay which by a vigilant eye may be obserued and will be a cause to make other Nations more constant in the course of their moneys And this will be executed more of course then by Authority because Gaine doth beare sway and command with most men The facilitie hereof putteth me in minde of the Geometricall Axiom or Maxime obserued in commendation of the inuention of round Wheeles Cirâ—…ulus tangit Planum vnico puncto as a reason to draw and carry Loads with a small strength whereas if they had beene made square or in any other Poly-angle and proportion Forty horses would not so easily draw them being laden as two doth now both with speed and ease Vnto which this Remedie may bee aptly compared which in a manner comprehendeth all the other Remedies For the Merchant Stranger being here the Deliuerer of money generally will easily bee induced to make the most of his owne receiuing by exchange more for the same beyond the Seas and the English Merchant being the Taker of the said moneys will not bee so iniurious to the State as to giue lesse beyond the Seas then the value of the money of the Realme in exchange contrarie to the said Proclamation and if hee would the Deliuerer will not let him haue it Besides that the Takers occasions are enforced by necessitie and he can be no loser for by this direction he will sell his Commodities beyond the Seas accordingly English Merchants
materials seruing for the making of Cloth The Rules also to de described for the true making of Cloth wherein the said Author hath beene a good obseruer may be with a vigilant-eye of the Officers to be imployed therein by the Corporation and the increase of Merchants to manage Trade a Remedie to the seuenth cause as also to the eight Cause of the decay of Trade but the sixt cause concerning the Policy of Merchants is not to be omitted whose orders already made and hereafter to bee made may be thought conuenient to be Surueyed by a Commttie who vpon complaints of the parties grieued in all Societies may take order by way of approbation or deniall to execute things for the generall good and not for the particular as I haue noted in all this Discourse So that other Merchants vpon reasonable considerations may be admitted vpon this especiall occasion to be of the said Societies or Companies for otherwise it may seeme somewhat dissonant from reason to prohibite all Merchants aswell English as Strangers to bring in any of the Commodities of Turkie or of the Leuant and now lately from Eastland and those Countries vnlesse they were free of the said Companies but to prohibite the importation of Commodities in Strangers Bottomes concurreth with the Law The ninth cause of the decay of Trade consisting of the interruption thereof by Warres Pirates and Bankerupts I haue partly handled in the fifth Cause And although decayed men are found at all times yet the want of money hath caused diuers Merchants and Tradesmen to Breake who might haue maintained then credits but that being out of their moneys and the moneys out of the Kingdome maketh them to goe out of their credits for Necessitas Parit Turpia The Remedy hereof doth most depend vpon plenty of money or meanes in the liew of money as the setting ouer of Bills of debt before spoken of For the Statute against Bankerupts cannot produce any great effect but be a meane to vndoe the party for euer if it doe depend long vpon him contrary to the intention thereof for whereas all such as are Creditors ought to come in within foure moneths to take their part of what may appeare of the state of the Bankerupt to bee examined by all lawfull meanes the same is protracted for tenne twenty and more moneths and all those that come in the said Iâ—…erim are admitted with the former and a great part of the estate is spent in charges This may bee remedied by the Authority of the Chauncery to the Commissioners appointed for th' execution of the said Statute The Remedy to the last and tenth Cause of the decay of Trade being the immoderate vse of forraine Commodities doth as I haue shewed before consist partly by the abundance of those Commodities imported by the abuse of exchange and partly by the wearing of those Commodities affected by the vulgar sort or Common people Monsieur Bodine doth obserue with Plato that as the Prince is so are the Subiects who by imitation follow his example which sooner entreth into their eyes then into their eares And the greater their Authoritie is the more affectionate is their imitation Alexander cast his head aside and all the Court held their necks awry Denis was Purblinde and his Courtiers stumbled at euery step and iustled each other as if they had beene euill sighted and so of other Princes in their apparell precious stones and other things which is made to bee the fashion Hence the Prouerbe tooke beginning Countries fashion Countries honour And the effect hereof is many times greater then the Lawes can bring to passe vnlesse it be vpon some Remarkable occasion as the late Command may proue for the wearing of Blackes at Funeralls in Cloth and Stuffes made of English Wooll within the Realme Here I haue omitted to speake of Customes Impositions publike and secret layed vpon Commodities especially vpon Cloth both here and beyond the Seas because the same requireth great consideration and the abolishing thereof being once laied on will hardly bee brought about vnlesse it bee with the consent of both parties where the one hath prouoked the other to impose them For a Conclusion therefore let vs note That all the said causes of the decay of Trade in England are almost all of them comprised in one which is the want of money whereof wee finde the abuse of exchange to bee the efficient Cause which maketh vs to finde out so easie Remedie whereby the Kingdome shall enioy all the three essentiall parts of Traffique vnder good and Politike Gouernment which will bee Free Trade effectually or in deed And this will also bee admirable in the eyes of other Princes finding his Maiesties wisdome to bee Transcendent in Gouerning of his owne which by so many sendings and remissions of Ambassadours vnto forraine Princes and States by his Noble Predecessours could neuer bee effected as by diuers Records appeareth albeit there was nothing required of them but what did stand with the Rule of Equality and Equitie which cannot erre But velut Ariadnae caeca regens filo vestigia non modo nos errare non sinit sed etiam efficit vt aberrantes in Rectam viam deducamur Soli Deo Gloria FINIS Finis corcnat opus Three essentiall parts of Traffique Commodities Monyes Exchange Money and Exchange two publike Measures The generall to bee preferred c. Obseruations surpassing the study of Merchants Parens Patrâ—… Exchange Actiue Moneyes and Commodities Passiue The ship of Trafficke taken for the whole Trade Magnes stone The Index of a Diall Actiue Warres and the Policy of Princes like two Whales deâ—…ouring Trade Canker of Englands Common-wealth and Englands view Pag. 8. Vnderualution of the Kings Coyne The 1. Cause An imaginary gayne made Reall of our own meanes Vnderualuation of Moneys in exchange The Rule of exchaÌ„ge excludeth the gaine to be had by Moneys Exchange is still Predominant Admirable feats to bee done by exchange Queene Elizabeth lending money out of th' Exchequer Bodin de Rep. The Canker of Englands Common-wealth The second cause the superfluitie of Plate c. The state of a Prince consisteth as much by reputation as by strength Englands View Exchange the scope of gaiâ—… The third cause the consumption of forraine wares The Canker c. Causes of the ouerballancing of Commodities English Merchants bereaued of the 2. essentiall parts of Trade An ingenious praâ—…ise of exâ—…hange Our Commodities fallen ouermuch in price French Wines deerer by exchange The immoderate vse of Tobacco The fourth cause the want of the East-Indie stocke 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 A Table Herodot in Clâ—…o A discourse of the East-India Trade by T. M. The losse had by exchange yearely is greater then the East Indie stocke yearely imployed A discourse of their Eastindie Trade The OceaÌ„ of Monyes from the West-Indies The fifth â—…ause the â—…arres of â—…irates Money inhaunced neuer carried to the Mint A shilling Lubish and Stiuer Flemish all one in the yeare 1575 A great fallacy In the vnited Prouinces In Germany Commodities of other countries vsed to prouide Wines Raisons c. The first cause of the decay of Trade Pag. 20. 21. Phys. 3. lib. cap. 3. The second Cause of the decay of Trade Englands View Plenty of money abateth thâ—… Raâ—…e of Vsury of Course S. George for Engâ—…and Englands â—…iew Pag. â—…2 The third cause of the decay of Trade Pag. 75. The fourth cause of the decay of Trade Inconueniences against the â—…shing in England Exemplary Actions of other Princes about duties of fishing Comâ—…nitie of the Seas as also a distinct Dominion The fifth cause of the decay of Trade Page 105. The aduantage of our Merchants in the sale of Clothes The Authors Apologie Pag. 46. Englands View Pag. 88. A Manuscript of the Royall Merchant of great Britaine Pag. 15. Of 〈◊〉 〈◊〉 〈◊〉 to work forcibly iXres A Steppe 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 To distribute The sixt Cause of the decay of Trade The Policies of Merchants The seuenth cause of the decay is the false making of our Cloth One extremity enforceth another Engrossing of Trade Lex Mercatoria or Law Merchant The eight cause of the decay of Trade exportation of Materials and impositions The ninth cause of the decay of Trade the warres the Pirate and Bankrupts Inconsiderate Barters The tenth cause of the decay of Trade The Vse of forraine Wares Plutarch in vita Sertorij Commodities and Moneys Pag. 104. Hysteron Proteron 〈◊〉 〈◊〉 tâ—…â—…ssolue an argument Exchange compared to the Assay of money The Canker of England Pag. 58. A Princely Study Par of ex change Forraine nations fetch our Wares Dissolution of Societies c. Ann. 1584. A Society may become a Monopoly The property of Monopoly Englands View Pag. 142. Praeemption of Tin Licence of Tobacco Ioynt Stockes or apart The intention of Letters Patents for new inuentions Allomes Errours in Trade coÌ„mitted by Merchants Three meanes 〈◊〉 decrease the wealth of the Realme 14. R. 2. Moneys Exchange The Kings Royall Exchange The defects of the Statute of employment Money coÌ„sisteth of weight finenesse and Valuation 1. Cause of the vnderualuation of our moneys The way to restore Englands wealth A Geometricall Axiome Ius gentium Inconueniences of the inhauncing of Moneys Grastons Chronicle One extremity enforceth another Table of exchange at Douer Policy of the Turke Persian Russian ObiectioÌ„s Answers Mediocria firma Rescounter in Account The want of money causeth the price of Plate to fall Vnprofitable lands The Policy of rewards The 1. Cause The 2. Cause Englands View Pag. 157. Pag. 159. The third Cause The fourth Cause The fifth Cause The 6. 7. 8. Causes The ninth Cause The tenth Cause
Measure betweene vs and forraine countries according to which all commodities are bought and sold in the course of Traffique for this exchange is grounded vpon the weight finenesse and vâ—…luation of the money of each countrey albeit the price thereof in exchange doth rise and fall according to scarcity and plenty of money and the few or many deliuerers and takers thereof These three essentiall parts of Traffique are to bee considered ioyntly and diuidedly for the good of Commonweales in the benefite to bee procured for the generall welfare or for the particular profit of some few persons for albeit that the generall is composed of the particular yet it may fall out that the general shall receiue an intollerable preiudice and losse by the particular and priuate benefite of some These in this respect are not to bee regarded especially if they may make the like benefite in some measure without hurt or detriment to the generall Some Merchants doe deale all for Commodities others for Monyes and other some altogether for Exchanges or all three or that which yeeldeth them most gaine and commonly without consideration had of the good of the Commonwealth which is the cause that Princes and Gouernours are to sit at the sterne of the course of Trade and Commerce For to speake ingeniously Merchants cannot enter into consideration of the quantity of forraine commodities imported at deare rates and the home commodities exported at lesser rates Respectiuely in former times by the disproportion whereof commeth an euident ouerballancing of commodities Merchants doe not regard whether the monyes of a Kingdome are vndervalued in exchange by the inhauncing of monyes in forraine parts whereby our monyes are exported when the exchange doth not answer the true value by Billes and the monyes of other countryes cannot bee imported but with an exceeding losse which euery man shunneth True it is that they obserue within the Realme to keepe the price of money at a Stand according to the Kings valuation but in forraine parts they runne with the streame headlong downe with other nations without consideration of their owne hinderance Merchants doe not know the weight and finenesse of monyes of each Countrey and the proportions obserued betweene Gold and Siluer nor the difference of seuerall Standards of coyne a matter so necessary for them to know to make thereby profitable returnes of the prouenue of our home commodities either in Money Bullion or Wares Finally Merchants seeking their Priuatum Commodum take notice onely of what is prohibited and commanded whereas it may fall out also that to require their opinion for the reformation of some abuses they may bee thought many times as vnfit as to call the Vintner to the consultation of lawes to bee made against drunkards Kings and Princes therefore which are the fathers of the great families of Commonweales are to bee carefull for the generall good so that the expences doe not exceede or surmount the incombes and reuenues thereof according to the saying of Marcus Cato Oportet Patrem familias vendacem esse non emacem Hee must bee a Seller and not a Buyer For the effecting whereof there is a serious study to bee had in the true vnderstanding of the Three essentiall Parts of Traffique whereof the course of exchange which is the most neglected will bee found to bee the efficient Cause which with vs is Praedominant and ouerruleth the course of Monyes and Commodities as shall bee declared in this discourse For these Three parts of Traffique concurre ioyntly together in their proper function and nature by an orderly carriage according to their first inuention and institution For as the Elements are ioyned by Symbolization the Ayre to the Fire by warmenesse the Water to the Ayre by moisture the Earth to the Water by coldnesse So is exchange ioyned to mohyes and monyes to commodities by their proper qualities and effects And euer as in a Clocke where there be many wheeles the first wheele being stirred driueth the next and that the third and so foorth till the last that moueth the instrument that strikes the clocke euen so is it in the course of Traffique for since money was inuented and became the first wheele which stirreth the wheele of Commodities and inforceth the Action But the third wheele of exchange of monyes betweene Countrey and countrey being established and grounded vpon monyes is in effect like to the instrument that striketh the Clocke being therein the thing Actiue and Commodities Monyes are become things Passiue in so much that the Sequele therof may be compared vnto Archers shooting at the Buâ—…tes directing their Arrowes according as the Blanke doth stand high or low for so do Merchants by exchange in the sale of commodities and negotiation of monyes without which commodities lie dead in all markettes Since the Ancient Commutation of commodities in kind did cease and the body of Commodities doth not worke without the Spirit which is exchange so that this obseruation being neglected the whole instrument of Trade must needes bee out of order and discompounded like a distempered Lock which wil neither open nor shut When the Art of nauigation and shipping had continued many yeares and marriners did â—…mitate each others obseruation before the Science of the Mathematiks was inuented It â—…apned that two great Whales with a great â—…olubility swimming in furious manner did approach an English ship of Traffique which was â—…ound for the Coast of Barbary saden with diâ—…ers good Commodities and Staple wares The marriners as the manner was did with all diligence cast ouerboord diuers empty barrels for the whales to play with all and to keepe them from the ship The whales not pleased therewith and a suddaine storme arising did endanger their ship which made them vnawares to cast ouer boord many good wares and rich Commodities wherewith one of the whales was playing But the other whale more fierce strook the Ship many times with his Taile and at last broake the Rudder of the Ship whereby they were much hindered in their Sailing and all the shippes of their fleete tooke the Start of them and arriued to their destined ports the rather because they lost also their sayling Compasse by the violence of the saide Stormy wind and tempest And the marriners had leisure with a Calme to discourse of the Accident to question which was the most necessary and Actiue thing of True sailing Some did attribute the same to the winds and Currant of the Seas Others to the sailes and agitations of the winds in them And others to the compasse made by the admirable vertue of the loadstone But all of them were Nouices in their profession whereupon a merchant standing by being a passenger in that voyage vsed these or the like speeches My friends and good fellowes I doe not a little admire to heare you thus ignorant in matter of your Profession Can not the losse of the Rudder of our ship make you sensible to vnderstand
the same by â—…gnorant men denying Principles and by other â—…eanes here not to be mentioned The second cause of the want of Moneys in â—…gland is saith the said Author the superfluity 〈◊〉 Plate generally in priuate mens hands Here he â—…th omitted to Note the great quantitie of Siluer consumed in the making of Siluer Thread Spangles Purles Oaes and the like which vpon late examination of the Right Hoâ—…urable Henry Vizcount Mandeuille Lord â—…esident are found to amount 80. thousand â—…unds and vpwards yeerely whereas the Plate â—…ade in London is only but 50. or 60. thouâ—…d pounds worth which remaineth as a stanâ—…ng Treasure when th' other is worne and conâ—…med leauing but some part to be molten aâ—…ine and if the Plate were conuerted into â—…oneys without all doubt it would more easily be Transported hauing his weight and â—…ine nesse and affording 12. in the 100. Gaine aboâ—… the exchange in two moneths and lesse time An exchange hereof wee haue yet fresh 〈◊〉 memorie during the Raigne of the Frenâ—… King Charles the ninth who after the Massaâ—… of Paris finding the Treasure of the Realâ—… exhausted and his Subiects wealth to conâ—… more of Plate then of ready Money was aâ—… uised by some that vnder colour of the Supâ—… pressing of Pride it were good to prescribe 〈◊〉 uery man what store of Plate he should keepâ—… according to his degree qualitie the rest 〈◊〉 be turned into moneys others were of opinioâ—… that it would not only breed a discontent vnâ—… his Subiects but also a derogation and dishâ—… nour to the Kings Reputation with forraâ—… Nations Seeing That the State of a Priâ—… doth as much consist by reputation as by strengâ—… Therefore like good Polititians aduised tâ—… King somewhat to imbase his money vnder tâ—… Standard of the Plate which would cause tâ—… lesse exportation and the Plate of course 〈◊〉 bee turned into money and this was doâ—… accordingly and had also the same effect sâ—… uing that where they thought money woâ—… not be Transported they found themselues dâ—… ceiued for the course of exchange was not loâ—… ked into which not being answered accordiâ—… to the true values of the moneys made a Gaiâ—… by the vnderualuation of them in exchangâ—… and so long as the Gaine remained it was conâ—…inually Transported whereby at last the Plate of the Realme turned into money was lost â—…swell as he lost his money before that time and â—…o it came to passe in England during the Raigne of King Henry ths eight who Granted â—…euerall Letters Patents or Authorities to diâ—…ers of his Nobles to make base moneys of â—…heir owne Plate which did fall out to be the greater preiudice to the Common-wealth and â—…o himselfe but a present shift for the time Concerning the Gold and Siluer thread I haue â—…eretofore endeuoured to haue the Manufacture thereof in England vpon plenty of money and Siluer to bee procured from forraine parts by meanes of th' exchange But finding of late such vnreasonable Consumption of Siluer therein spent after the refining thereof and the vncertainty in goodnnesse by the Wier-drawers it pleased his Maiestie with the aduice of his most Honourable priuy Councell to forbid the same lately by Proclamation and to admit the forraine siluer Thread to come in whereby our Siluer is not only preserued but the quantity also is increased because after the wearing a good part remaineth in burnt Siluer whereas the Silke lace is consumed to nothing And such is the Gaine of Siluer beyond the Seas in regard of the lowe exchange by Bills vnderualuing our moneys that Purles Oaeses in some sort prepared here haue beene by way of Merchandise Transported of purposâ—… to melt the same downe there for the making of moneys as I haue seene by diuers Certificates from Dart in Holland The third Cause of the Want of Moneys 〈◊〉 England is the Consumption of forraine Commodities which I haue alwayes called The 〈◊〉 uerballancing of those Commodities with the natiue Commodities of the Kingdome in Price and not so much in the quantitie And the comparison hereof is principally to be made in the Trade of cloth and the Returne of it made by Forraine Commodities As Silkes Linner cloth Cambrickes Lawnes and other the like Commodities brought in by the Merchants Aduenturours which haue the Maine Trade and buy these Commoditis proportionably dearer then they sell our home Commodities which I haue proued by many reasons to proceed by the abuse of exchange according to which they are both waies sold and bought Is there any man of iudgement who seeth not That this ouerballancing doth expell our moneys out of the Realme and which are in effect as it were giuen to boote to other Nations to Counteruaile this inequalitie Let them consider of the Reasons following First moneys being vndervalued in exchange causeth the price of our home Commodities to be abated and to bee sold better cheape in forraine parts is also the cause that our moneys are continually Transported Secondly the moneys being Transported taketh away the liuely course of Traffique of our said Commodities and causeth young merchants to Runne by exchanges vpon Bills to maintaine their Trade paying great Interest for money which they cannot take vp at Vse vpon their single Bond as they can doe by a Bill of exchange without Sureties This causeth the said young Merchants and others to make rash Sales of their Commodities beyond the Seas to pay their Bills of exchanges whereby they ouerthrow the Markets of others and make them to Sell good cheape So on the contrary the Coynes being ouer-valued in exchange and also inhaunced beyond the Seas causeth the price of forraine Commodities to be increased more then our home commodities and our Merchants are compelled of course to make Returne thereby For they cannot import those ouervalued moneys but to their exceeding great losse and by exchange they finde few Takers vnlesse it be our young Merchants which doe consume their Estates by exchanges Rechanges For of the Three Essentiall Parts of Traffique we haue but the vse of one which is the buying of forraine Commodities to make Returnes homewards and doth increase the consumption of the said Wares Moneys remaining hereby plentifull beyond the Seas the rather for that they make Bills obligatory serue as ready Money which they Transferre and set ouer betweene man and man for the paiment of Moneys or Wares causeth there a liuely course of Trade whereby their Commodities are aduanced in price sale neither are they compelled to sel them but at their price because they finde money at interest at 5. and 6. in the hundred This money is made daily more plentifull by our Spanish Merchants which doe diuert the Realls of Spaine as before hath beene declared hence it proceedeth that our home Commodities are many times sold better cheape beyond the Seas then here for although Merchants doe lose thereby they make account to gaine
wherof sheweth that our hearts are ouerfrozen with the Ice of vncharitablenesse which otherwise could not haue so long continued for it prouoketh Gods anger against vs in the highest degree If these men had beene Iewes I might haue bestowed some Hebrew vpon them in detestation of the word Neshech which is nothing else but a kind of biting as a dog vseth to bite gnaw vpoÌ„ a bone otherwise to vse many languages in a litle Treatise of free trade may seem impertinent The third cause of the decay of Trade he saith is the litigious Law suits which as one way they increase by scarsity of money which compelleth men to stand out in Law for a time when they cannot pay vntill they receiue So another way when moneys are plentifull men care the lesse for money pride causeth them to spend to go to law for euery triflle disputing Delana Caprina true it is that this Law warfare interrupteth trade but to make the same to be one of the efficient Causes of the decay of trade I cannot altogither agree therunto but rather to the Remedies which shal be hereafter declared albeit many men are vexed imprisoned ouerthrowne hauing spent their time means in Law which might haue bin employed in trade for the good of the CoÌ„mon-wealth their owne quietnesse I do likewise omit to intreat of transportation of ordnance munition heretofore permitted mentioned by the said author now preuented in some sort neither was England in the yeere 1588. in such great distresse to be termed in articulo temporis when the merchants Aduenturers did prouide from Hambrough a ships lading with Powder and shot as parcell of their dutie to assist the Kingdome by God only preserued The fourth Cause of the Decay of Trade or to speake properly neglect of Trade is The admitting of forraine Nations to fish in his Maiesties Streames and dominions without paying any thing for the same whereby their Nauigation is wonderfully increased their Mariners multiplied and their Countrie inriched with the continuall labour of the people of all sorts both impotent and lame which are set on worke and get their liuing Concerning this fishing Trade there hath beene a continuall Agitation aboue 30. yeeres to make Busses and Fisher-boats but the Action is still interrupted because other Nations doe finde too great fauour and friends here to diuert all the good intentions and endeuours of such as with the Author of this Discourse haue imployed their Time and good meanes therein for the Merchants Aduenturours the Companie of Merchants Trading in Russia and the East-land Merchants did also oppose themselues against it at the Councell Table and did alleage the reasons following 1. The infringing of their Priuiledges here and beyond the Seas 2. The Interloopers aduantage to interrupt their Trade vnder colour hereof 3. The want of meanes to make Returne both for Fish and Cloth also 4. The inhauncing of the price of forreine Commodities 5. The preoccupying of money to the hinderance of Cloth 6. The dissolution of the ioynt stocke of the Russia Company 7. The incouragement of Strangers hereupon to make a Contract with the Russian Emperour 8. The discouragement to vndertake new discoueries 9. The defraying of the Charge of Embassadours and other extraordinarie Charges for honour of the State 10. The plenty of Fish which those Countries haue from time to time and some other Reasons So that in conclusion England by their saying cannot maintaine the Sea Trade and the Land Trade together neither do they make account to make Returne in money knowing that they should lose more thereby then by the exchange of those Countries or by Commodities And albeit that all the premisses may bee moderated without hinderance to the said Companies neuerthelesse such is the condition of some Merchants not vnderstanding the Mysteries of exchange and ouer-ruling others by their order of Antiquitie in their Society that neither Reason or experience can preuaile insomuch that whereas other Princes take their Duties of other Nations for fishing and fish themselues also by their Subiects yet England cannot resolue to doe the like or at least take order for the said Duties In Russia many leagues from the Maine Fisher-men doe pay great Taxes to the Emperour of Russia and in most places other Nations are prohibited to fish The King of Denmarke doth the like and taketh great Tribute both at Ward-house and the Sound The King of Sweden in like manner and the said King of Denmarke now for the Kingdome of Norway All the Bordering Princes of Italy doe take Taxes vpon fish within the Mediterranian Seas The like Taxe is taken by the Duke of Medina Sidonia for Tunny in the Spanish Seas The States of the Vnited Prouinces doe take an imposition vpon fish which is taken within the Streames and Dominions of other Princes The Hollanders doe allow the Tenth fish both in Russia Lappia and other places or pay a Composition for the same as also moreouer a Tribute in the Sound for passage to fetch the said fish And of mine owne knowledge I am assured they would willingly haue paid the same vnto England or a good composition for it had not the greedy lucre of some persons hindered the same These exemplary Actions haue long determined the question of Mare liberum touching the Communitie or freedome of the Seas which is acknowledged to be so for Nauigation without that the same doth any manner of way preiudice the Distinct Dominions of the Seas of all Princes concerning fishing that is to say the fishing Trade So that it is superfluous to alleage the opinions of Orators and Poets about the fishing heretofore in the Mediterranian Seas neither doth it belong to this place to cite the Determinations of the learned Ciuilians which are mentioned in the Treatise De Dominio Maris For the matter hath beene learnedly handled at the Councell Boord before the Graue Senators many yeeres since by our Ciuilians and others which to auoid prolixitie I doe omit Now from the Fishing we are come to Clothing or Drapery of the Kingdome and the abuses thereof as the fist cause of the decay of Trade wherein to vse many distinctions of the new and old Drapery vnlesse it were to Reduce matters in statu quo prius shall be needlesse And although the dressing and dying of Cloth was insisted vpon to be done in England in the yeere 1616. To establish the Manufacture within the Realme at which time 64. thousand Clothes were exported which was afterwards reuoked I cannot omit to obserue the Practises which were vsed by Combination with other Nations abroad and domesticke intelligence aâ—… home whereby many good Actions are oâ—…rowne to the generall hurt and with little aduancement to the particular It cannot be denied but that the Drapery of forraine Nations not only the making of Cloth in the Low Countries but oâ—… late yeereâ—… in Italy and Spaine also the Trade of Cloth 〈◊〉
price of the Commodities or fruits of the land Certes that landâ—… vnprofitable in euery mans iudgement For lands being the Naturall riches so much desired of all men are much disimprooued by the want of money and the selling of our natiue Commodities too good cheape in regard of the price of forraine Commodities This beeing an euident token of the pouerty of a Common-wealth which like an vnweildy Elephantike Body hath a slowe motion and therefore more dangerous and subiect to destruction which by the want of money is made visible and sensible The returnes lately had from the East-Indies wil in part asswage the same if Merchants in the dispersing of those Commodities will procure importation of money and Bullion as no doubt they will doe And this will further bee increased when the Hollanders and our Merchants shall be at an end of their present controuersies which by his Maiesties high wisedome will soone be determined Touching the warres of Christendome for so much as concerneth the want of moneys I haue already shewed how the same is also comprised in the reformation of the abuse of exchange procuring thereby moneys which are Nerui Bellorum But to take vpon mee to discourse of warres might make me subiect to Apelles his reprehension Ne sutor vltra Crepidam Onely I hope that the famous example of Augustus Caesar the Emperour may bee remembred who perceiuing the forces of the great Pirate Crocataes to increase daily by the concourse of many nations whilest hee was in Spaine caused a Proclamation to be made that whosoeuer should bring him the head of the said Pirate he would reward him with 20. thousand crownes whereupon the saide Pirate was brought in danger of the humors of the saide nations whose suspected inconstancy and lucre bred a resolution in him to offer his owne head to the obedience of iustice and demanding the said 20. thousand crownes had the same payed vnto him whereby all his associates were ouercome and dispersed In like manner did Sixtus Quintus deale with the Banditi in Italy and made them to cut one anothers throats This Policy of reward draweth as forcibly as the Adamant or Loade-stone which caused the Spaniard to say Dadiuas quebrantan Pennas Gifts doe breake stony Rockes From the Precedent causes of the want of money in England come we to the causes of the decay of Trade in order whereof this is the efficient Cause whereunto the onely Remedy hath beene declared already Vsury Politike is made the next cause of the decay of Trade which must be remedied by the Plenty of money to be procured as aforesaide wherein that laudable Custome of the transforming or setting ouer of billes of debt from man to man is to be remembred which by his Maiesties Praerogatiue Royall or by Act of Parliament might be established for thereby great matters are effected as it were with ready money But our law requireth a more precisenesse in the execution thereof then in Germany and the Low Countries it not being Choses in Action as the Lawyers speake But the necessarines hereof so vrgent that no man is like to contradict the same for wee doe finde by experience that things which are indeede and things which are not indeede but taken to be indeed as this is for payment of moneys may produce all one effect And for the biting Usury before mentioned there will be stocke found to erect pawne houses by meanes as shall be more amply hereafter declared and here is to be wished that the City of London and euery principall towne of a Shiere or the most part of them would take vpon them to take money casually at the hand of such as will deliuer the same vpon the aduenture of their or other mens liues As at Venice where a man for the summe of three or foure hundreth pounds once giuen and in like manner at Amsterdam shall be sure to haue one hundreth pounds a yeare during his life wherby a great Stocke might be raised for the generall good of all parties and especially to set the poore people on worke and to take their manufactures of them to be sold with a reasonable gaine for experience hath taught in all places where the like is vsed that the City becommeth alwayes a Gayner by the decease of the parties that doe deliuer money in this nature But it is conuenient to prescribe certaine rules hereupon in the making of all manufactures which commonly is best effected by Corporations The litigious Suits in Law being noted as the third cause of the decay of Trade can hardly be remedied for the reasons before declared but must haue their course and herein there can be no shorter course deuised by the witte of man then the Common-wealth doth vse vpon proofe and specialties if the pleadings and issues although Peremptory bee ioyned according to the first institution whereby the Matter of fact may nakedly appeare before the Iury of twelue men who are to iudge thereof according to the euidence of witnesses produced before them for touching the matter of Law the same beeing separated from the matter of Fact maketh a Demâ—…rer to be determined by the Iudge I haue great cause to enter into Campum spatiosum about this Law warfare hauing by experience and study spent much time therein But I thinke fit onely to commend the orders vsed in Germany to take downe the litigious humours of some persons To make them pay a Fine of twelue pence vpon the pound or more to the Emperors or Magistrates for so much as they claime more of the defendant then they can iustly prooue to be due vnto them besides 〈◊〉 further charge if hee bee found in his proceedings to doe things for a Reuenge which they call an vnlawfull imprisonment although by the lawe he haue commenced his Sute lawfully and this is tearmed Poena Plus Petentium For all other meanes whereby the differences happening betweene Merchants are determined I must referre the same vnto my booke of Lexmercatoria as a matter requiring a large explanation The like I must doe concerning the fishing Trade which is the fourth Cause noted before which hath a reference to the want of money or to speake ingeniously is a chiefe cause of the want of money which might bee procured thereby whereby both the Trade of Cloth and fishing might flourish together contrary to the opinion of the seuerall societies of Merchants before alleadged for although they be of seuerall companies yet such orders may be deuised by the corporation to be made of fishing Merchants as shall not infringe their seuerall priuiledges any way and all obiections may be answered by true and iust preuention obseruing other nations Facilius est addere quà m constituere The fift cause of the decay of Trade by making Cloth in forraine Countries hath beene considered of whereupon the late Proclamation was made prohibiting Th'exportation of Wooll Wooll-fells Wooll-yearne Fullers earth and Wood ashes and all