and_o abide_v with_o we_o as_o be_v gain_v and_o incorporate_v into_o the_o estate_n of_o the_o kingdom_n by_o the_o overbalance_n of_o the_o trade_n this_o may_v be_v make_v plain_a by_o a_o example_n take_v from_o a_o englishman_n who_o have_v occasion_n to_o buy_v and_o consume_v the_o ware_n of_o divers_a stranger_n for_o the_o value_n of_o six_o hundred_o pound_n and_o have_v ware_n of_o his_o own_o for_o the_o value_n of_o one_o thousand_o pound_n he_o sell_v they_o to_o the_o say_a stranger_n and_o present_o force_v all_o the_o money_n from_o they_o into_o his_o own_o power_n yet_o upon_o clear_n of_o the_o reckon_n between_o they_o there_o remain_v only_o four_o hundred_o pound_n to_o the_o say_v englishman_n for_o overballance_n of_o the_o ware_n buy_v and_o sell_v so_o the_o rest_n which_o he_o have_v receive_v be_v return_v back_o from_o whence_o he_o force_v it_o and_o this_o shall_v suffice_v to_o show_v that_o whatsoever_o course_n we_o take_v to_o force_v money_n into_o the_o kingdom_n yet_o so_o much_o only_o will_v remain_v with_o we_o as_o we_o shall_v gain_v by_o the_o balance_n of_o our_o trade_n chap._n xii_o the_o undervalue_v of_o our_o money_n which_o be_v deliver_v or_o receceive_v by_o bill_n of_o exchange_n here_o or_o beyond_o the_o sea_n can_v decrease_v our_o treasure_n the_o merchant_n exchange_n by_o bill_n be_v a_o mean_n and_o practice_n whereby_o they_o that_o have_v money_n in_o one_o country_n may_v deliver_v the_o same_o to_o receive_v it_o again_o in_o another_o country_n at_o certain_a time_n and_o rate_n agree_v upon_o whereby_o the_o lender_n and_o the_o borrower_n be_v accommodate_v without_o transport_v of_o treasure_n from_o state_n to_o state_n these_o exchange_n thus_o make_v between_o man_n and_o man_n be_v not_o contract_v at_o the_o equal_a value_n of_o the_o money_n according_a to_o their_o respective_a weight_n and_o fineness_n first_o because_o he_o that_o deliver_v his_o money_n do_v respect_v the_o venture_n of_o the_o debt_n and_o the_o time_n of_o forbearance_n but_o that_o which_o cause_v a_o under_o or_o overvalue_v of_o money_n by_o exchange_n be_v the_o plenty_n or_o scarcity_n thereof_o in_o those_o place_n where_o the_o exchange_n be_v make_v for_o example_n when_o here_o be_v plenty_n of_o money_n to_o be_v deliver_v for_o amsterdam_n then_o shall_v our_o money_n be_v undervalue_v in_o exchange_n because_o they_o who_o take_v up_o the_o money_n see_v it_o so_o plentiful_o thrust_v upon_o they_o do_v thereby_o make_v advantage_n to_o themselves_o in_o take_v the_o same_o at_o a_o undervalue_n and_o contrariwise_o when_o here_o be_v scarcity_n of_o money_n to_o be_v deliver_v for_o amsterdam_n the_o deliverer_n will_v make_v the_o same_o advantage_n by_o overvalue_a our_o money_n which_o he_o deliver_v and_o thus_o we_o see_v that_o as_o plenty_n or_o scarcity_n of_o money_n in_o a_o dear_a commonwealth_n do_v make_v all_o thing_n dear_a or_o good_a cheap_a so_o in_o the_o course_n of_o exchange_n it_o have_v ever_o a_o contrary_a work_n wherefore_o in_o the_o next_o place_n it_o be_v fit_a to_o set_v down_o the_o true_a cause_n of_o this_o effect_n as_o plenty_n or_o scarcity_n of_o money_n do_v make_v the_o price_n of_o the_o exchange_n high_a or_o low_o so_o the_o over_o or_o under_o balance_n of_o our_o trade_n do_v effectual_o cause_v the_o plenty_n or_o scarcity_n of_o money_n and_o here_o we_o must_v understand_v that_o the_o balance_n of_o our_o trade_n be_v either_o general_n or_o particular_a the_o general_n be_v when_o all_o our_o yearly_a traffic_n be_v joint_o value_v as_o i_o have_v former_o show_v the_o particular_a be_v when_o our_o trade_n to_o italy_n france_n turkey_n spain_n and_o other_o country_n be_v several_o consider_v and_o by_o this_o latter_a course_n we_o shall_v perfect_o find_v out_o the_o place_n where_o our_o money_n be_v under_o or_o overvalue_v in_o exchange_n for_o although_o our_o general_a exportation_n of_o ware_n may_v be_v yearly_o more_o in_o value_n than_o that_o which_o be_v import_v whereby_o the_o difference_n be_v make_v good_a to_o we_o in_o so_o much_o treasure_n nevertheless_o the_o particlar_a trade_n do_v work_v diverse_o for_o peradventure_o the_o low_a country_n may_v bring_v we_o more_o in_o value_n than_o we_o sell_v they_o which_o if_o it_o be_v so_o then_o do_v the_o low_a low_o country_n merchant_n not_o only_o carry_v away_o our_o treasure_n to_o balance_v the_o account_n between_o we_o but_o also_o by_o this_o mean_v money_n be_v plentiful_a here_o to_o be_v deliver_v by_o exchange_n it_o be_v therefore_o undervalue_v by_o the_o taker_n as_o i_o have_v before_o declare_v and_o contrariwise_o if_o we_o carry_v more_o ware_n to_o spain_n and_o other_o place_n than_o we_o consume_v of_o they_o then_o do_v we_o bring_v away_o their_o treasure_n and_o likewise_o in_o the_o merchant_n exchange_n we_o overvalue_v our_o own_o money_n yet_o still_o there_o be_v some_o who_o will_v seem_v to_o make_v this_o plain_a by_o demonstration_n that_o the_o undervalue_v of_o our_o money_n by_o exchange_n do_v carry_v it_o out_o of_o the_o kingdom_n for_o say_v they_o we_o see_v daily_o great_a store_n of_o our_o english_a coin_n carry_v over_o which_o pass_v current_a in_o the_o low-countries_n and_o there_o be_v great_a advantage_n to_o carry_v they_o thither_o to_o save_v the_o loss_n which_o the_o low-countryman_n have_v in_o the_o exchange_n for_o if_o one_o hundred_o pound_n sterling_a deliver_v here_o be_v so_o much_o undervalue_v that_o ninty_a pound_n of_o the_o same_o sterling_a money_n carry_v over_o in_o specie_fw-la shall_v be_v sufficient_a to_o make_v repayment_n and_o full_a satisfaction_n of_o the_o say_v hundred_o pound_n at_o amsterdam_n be_v it_o not_o then_o say_v they_o the_o undervalue_v of_o our_o money_n which_o cause_v it_o to_o be_v carry_v out_o of_o the_o realm_n to_o this_o objection_n i_o will_v make_v a_o full_a and_o plain_a answer_n show_v that_o it_o be_v not_o the_o undervalue_a of_o our_o money_n in_o exchange_n but_o the_o overballance_a of_o our_o trade_n that_o carry_v away_o our_o treasure_n for_o suppose_v that_o our_o whole_a trade_n with_o the_o low-countries_n for_o ware_n bring_v into_o this_o realm_n be_v perform_v only_o by_o the_o dutch_a for_o the_o value_n of_o five_o hundred_o thousand_o pound_n yearly_a and_o that_o all_o our_o commodity_n transport_v into_o the_o say_a low-countries_n be_v perform_v only_o by_o the_o english_a for_o four_o hundred_o thousand_o pound_n yearly_a be_v it_o not_o then_o manifest_a that_o the_o dutch_a can_v exchange_v only_o four_o hundred_o thousand_o pound_n with_o the_o english_a upon_o the_o par_fw-fr pro_fw-la pari_fw-la or_o equal_a value_n of_o the_o respective_a standard_n so_o the_o other_o hundred_o thousand_o pound_n which_o be_v the_o overballance_n of_o the_o trade_n they_o must_v of_o necessity_n carry_v that_o away_o in_o money_n and_o the_o self_n same_o loss_n of_o treasure_n must_v happen_v if_o there_o be_v no_o exchange_n at_o all_o permit_v for_o the_o dutch_a carry_v away_o our_o money_n for_o their_o ware_n and_o we_o bring_v in_o their_o foreign_a coin_n for_o their_o commodity_n there_o will_v be_v still_o one_o hundred_o thousand_o pound_n loss_n now_o let_v we_o add_v another_o example_n ground_v upon_o the_o aforesaid_a proportion_n of_o trade_n between_o we_o and_o the_o low_a country_n the_o dutch_a as_o aforewritten_v may_v exchange_v with_o the_o english_a for_o four_o hundred_o thousand_o pound_n and_o no_o more_o upon_o the_o equal_a value_n of_o the_o money_n because_o the_o english_a have_v no_o further_o mean_n to_o satisfy_v but_o now_o suppose_v that_o in_o respect_n of_o the_o plenty_n of_o money_n which_o in_o this_o case_n will_v be_v here_o in_o the_o hand_n of_o the_o dutch_a to_o deliver_v by_o exchange_n gain_n our_o money_n according_a to_o that_o which_o have_v be_v already_o say_v be_v undervalue_v ten_o per_n cent_n then_o be_v it_o manifest_a that_o the_o dutch_a must_v deliver_v four_o hundred_o and_o forty_o thousand_o pound_n to_o have_v the_o englishmans_fw-mi four_o hundred_o thousand_o pound_n in_o the_o low_a country_n so_o that_o there_o will_v then_o remain_v but_o 60000._o pound_n for_o the_o dutch_a to_o carry_v out_o of_o the_o realm_n to_o balance_v the_o account_n between_o they_o and_o we_o whereby_o we_o may_v plain_o perceive_v that_o the_o undervalue_v of_o our_o money_n in_o exchange_n will_v not_o carry_v it_o out_o of_o the_o kingdom_n as_o some_o man_n have_v suppose_v but_o rather_o be_v a_o mean_n to_o make_v a_o less_o quantity_n thereof_o to_o be_v export_v than_o will_v be_v do_v at_o the_o par_fw-fr pro_fw-la pari_fw-la further_o let_v we_o suppose_v that_o the_o english_a merchant_n carry_v out_o as_o much_o ware_n in_o value_n as_o the_o dutch_a merchant_n bring_v in_o whereby_o the_o
lose_v so_o much_o treasure_n and_o that_o this_o be_v a_o act_n direct_o against_o the_o long_a continue_a law_n make_v and_o confirm_v by_o the_o wisdom_n of_o this_o kingdom_n in_o the_o high_a court_n of_o parliament_n and_o that_o many_o place_n nay_o spain_n itself_o which_o be_v the_o fountain_n of_o money_n forbid_v the_o exportation_n thereof_o some_o case_n only_o except_v to_o all_o which_o i_o may_v answer_v that_o venice_n florence_n genoa_n the_o low_a country_n and_o divers_a other_o place_n permit_v it_o their_o people_n applaud_v it_o and_o find_v great_a benefit_n by_o it_o but_o all_o this_o make_v a_o noise_n and_o prove_v nothing_o we_o must_v therefore_o come_v to_o those_o reason_n which_o concern_v the_o business_n in_o question_n first_o i_o will_v take_v that_o for_o grant_v which_o no_o man_n of_o judgement_n will_v deny_v that_o we_o have_v no_o other_o mean_n to_o get_v treasure_n but_o by_o foreign_a trade_n for_o mine_n we_o have_v none_o which_o do_v afford_v it_o and_o how_o this_o money_n be_v get_v in_o the_o manage_n of_o our_o say_a trade_n i_o have_v already_o show_v that_o it_o be_v do_v by_o make_v our_o commodity_n which_o be_v export_v yearly_a to_o over_o balance_n in_o value_n the_o foreign_a ware_n which_o we_o consume_v so_o that_o it_o rest_v only_o to_o show_v how_o our_o money_n may_v be_v add_v to_o our_o commodity_n and_o be_v joint_o export_v may_v so_o much_o the_o more_o increase_v our_o treasure_n we_o have_v already_o suppose_v our_o yearly_a consumption_n of_o foreign_a ware_n to_o be_v for_o the_o value_n of_o twenty_o hundred_o thousand_o pound_n and_o our_o exportation_n to_o exceed_v that_o two_o hundred_o thousand_o pound_n which_o sum_n we_o have_v thereupon_o affirm_v be_v bring_v to_o we_o in_o treasure_n to_o balance_v the_o account_n but_o now_o if_o we_o add_v three_o hundred_o thousand_o pound_n more_o in_o ready_a money_n unto_o our_o former_a exportation_n in_o ware_n what_o profit_n can_v we_o have_v will_n some_o man_n say_v although_o by_o this_o mean_v we_o shall_v bring_v in_o so_o much_o ready_a money_n more_o than_o we_o do_v before_o see_v that_o we_o have_v carry_v out_o the_o like_a value_n to_o this_o the_o answer_n be_v that_o when_o we_o have_v prepare_v our_o exportation_n of_o ware_n and_o send_v out_o as_o much_o of_o every_o thing_n as_o we_o can_v spare_v or_o vent_v abroad_o it_o be_v not_o money_n therefore_o say_v that_o then_o we_o shall_v add_v our_o money_n thereunto_o to_o fetch_v in_o the_o more_o money_n immediate_o but_o rather_o first_o to_o enlarge_v our_o trade_n by_o enable_v we_o to_o bring_v in_o more_o foreign_a ware_n which_o be_v send_v out_o again_o will_v in_o due_a time_n much_o increase_v our_o treasure_n for_o although_o in_o this_o manner_n we_o do_v yearly_o multiply_v our_o importation_n to_o the_o maintenance_n of_o more_o ship_n and_o mariner_n improvement_n of_o his_o majesty_n custom_n and_o other_o benefit_n yet_o our_o consumption_n of_o those_o foreign_a ware_n be_v no_o more_o than_o it_o be_v before_o so_o that_o all_o the_o say_a increase_n of_o commodity_n bring_v in_o by_o the_o mean_n of_o our_o ready_a money_n send_v out_o as_o be_v afore_o write_v do_v in_o the_o end_n become_v a_o exportation_n unto_o we_o of_o a_o far_o great_a value_n than_o our_o say_a money_n be_v be_v which_o be_v prove_v by_o three_o several_a example_n follow_v 1._o for_o i_o suppose_v that_o 100000._o l._n be_v send_v in_o our_o ship_n to_o the_o east_n country_n will_v buy_v there_o one_o hundred_o thousand_o quarter_n of_o wheat_n clear_o aboard_o the_o ship_n which_o be_v after_o bring_v into_o england_n and_o house_v to_o export_v the_o same_o at_o the_o best_a time_n for_o vent_v thereof_o in_o spain_n or_o italy_n it_o can_v yield_v less_o in_o those_o part_n than_o two_o hundred_o thousand_o pound_n to_o make_v the_o merchant_n but_o a_o saver_n yet_o by_o this_o reckon_n we_o see_v the_o kingdom_n have_v double_v that_o treasure_n 2._o again_o this_o profit_n will_v be_v far_o great_a when_o we_o trade_v thus_o in_o remote_a country_n as_o for_o example_n if_o we_o send_v one_o hundred_o thousand_o pound_n into_o the_o east-indies_n to_o buy_v pepper_n there_o and_o bring_v it_o commonwealth_n hither_o and_o from_o hence_o send_v it_o for_o italy_n or_o turkey_n it_o must_v yield_v seven_o hundred_o thousand_o pound_n at_o least_o in_o those_o place_n in_o regard_n of_o the_o excessive_a charge_n which_o the_o merchant_n disburse_v in_o those_o long_a voyage_n in_o ship_n wage_n victual_n insurance_n interest_n custom_n impost_n and_o the_o like_a all_o which_o notwithstanding_o the_o king_n and_o the_o kingdom_n get_v 3._o but_o where_o the_o voyage_n be_v short_a &_o the_o ware_n rich_a which_o therefore_o will_v not_o employ_v much_o ship_n the_o profit_n will_v be_v far_o less_o as_o when_o another_o hundred_o thousand_o pound_n shall_v be_v employ_v in_o turkey_n in_o raw_a silk_n and_o bring_v hither_o to_o be_v after_o transport_v from_o hence_o into_o france_n the_o low_a country_n or_o germany_n the_o merchant_n shall_v have_v good_a gain_n although_o he_o sell_v it_o there_o but_o for_o one_o hundred_o and_o fifty_o thousand_o pound_n and_o thus_o take_v the_o voyage_n altogether_o in_o their_o medium_fw-la the_o money_n export_v will_v be_v return_v unto_o we_o more_o than_o treble_v but_o if_o any_o man_n will_v yet_o object_v that_o these_o return_n come_v to_o we_o in_o ware_n and_o not_o real_o in_o money_n as_o they_o be_v issue_v out_o the_o answer_n be_v keep_v our_o first_o ground_n that_o if_o our_o consumption_n of_o foreign_a ware_n be_v no_o more_o yearly_a than_o be_v already_o suppose_a and_o that_o our_o exportation_n be_v so_o mightliy_v increase_v by_o this_o manner_n of_o trade_n with_o ready_a money_n as_o be_v before_o declare_v it_o be_v not_o then_o possible_a but_o that_o all_o the_o overbalance_n or_o difference_n shall_v return_v either_o in_o money_n or_o in_o such_o ware_n as_o we_o must_v export_v again_o which_o as_o be_v already_o plain_o show_v will_v be_v still_o a_o great_a mean_n to_o increase_v our_o treasure_n for_o it_o be_v in_o the_o stock_n of_o the_o kingdom_n as_o in_o the_o estate_n of_o private_a man_n who_o have_v store_n of_o ware_n do_v not_o therefore_o say_v that_o they_o will_v not_o venture_v out_o or_o trade_n with_o their_o money_n for_o this_o be_v ridiculous_a but_o do_v also_o turn_v that_o into_o ware_n whereby_o they_o multiply_v their_o money_n and_o so_o by_o a_o continual_a and_o orderly_a change_n of_o one_o into_o the_o other_o grow_v rich_a and_o when_o they_o please_v turn_v all_o their_o year_n estate_n into_o treasure_n for_o they_o that_o have_v ware_n can_v want_v money_n neither_o be_v it_o say_v that_o money_n be_v the_o life_n of_o trade_n as_o if_o it_o can_v not_o subsist_v without_o the_o same_o for_o we_o know_v that_o there_o be_v great_a trade_n by_o way_n of_o commutation_n or_o barter_n when_o there_o be_v little_a money_n stir_v in_o the_o world_n the_o italian_n and_o some_o other_o nation_n have_v such_o remedy_n against_o this_o want_n that_o it_o can_v neither_o decay_v nor_o hinder_v their_o trade_n for_o they_o transfer_v bill_n of_o debt_n and_o have_v bank_n both_o public_a and_o private_a wherein_o they_o do_v assign_v their_o credit_n from_o one_o to_o another_o daily_o for_o very_o great_a sum_n with_o ease_n and_o satisfaction_n by_o write_n only_o whilst_o in_o the_o mean_a time_n the_o mass_n of_o treasure_n which_o give_v foundation_n to_o these_o credit_n be_v employ_v in_o foreign_a trade_n as_o a_o merchandise_n and_o by_o the_o say_a mean_n they_o have_v little_a other_o use_n of_o money_n in_o those_o country_n more_o than_o for_o their_o ordinary_a expense_n it_o be_v not_o therefore_o the_o keep_n of_o our_o money_n in_o the_o kingdom_n but_o the_o necessity_n and_o use_n of_o our_o ware_n in_o foreign_a country_n and_o our_o want_n of_o their_o commodity_n that_o cause_v the_o vent_n and_o consumption_n on_o all_o side_n which_o make_v a_o quick_a and_o ample_a trade_n if_o we_o be_v once_o poor_a and_o now_o have_v gain_v some_o store_n of_o money_n by_o trade_n with_o resolution_n to_o keep_v it_o still_o in_o the_o realm_n shall_v this_o cause_n other_o nation_n to_o spend_v more_o of_o our_o commodity_n than_o former_o they_o have_v do_v whereby_o we_o may_v say_v that_o our_o trade_n be_v quicken_v and_o enlarge_v no_o very_o it_o will_v produce_v no_o such_o good_a effect_n but_o rather_o according_a to_o the_o alteration_n of_o time_n by_o their_o true_a cause_n we_o may_v expect_v the_o contrary_a for_o all_o man_n do_v consent_v that_o plenty_n of_o money_n in_o a_o kingdom_n do_v make_v the_o native_a commodity_n dear_a
mean_n be_v equal_a between_o they_o to_o make_v their_o return_n by_o exchange_n without_o carry_v away_o of_o any_o money_n to_o the_o prejudice_n of_o either_o state_n and_o yet_o notwithstanding_o the_o dutch_a merchant_n for_o his_o occasion_n or_o advantage_n will_v forsake_v this_o course_n of_o exchange_n and_o will_v venture_v to_o send_v part_n of_o his_o return_n in_o ready_a money_n to_o this_o the_o answer_n be_v that_o hereupon_o it_o must_v follow_v of_o necessity_n that_o the_o dutch_a shall_v want_v just_a so_o much_o mean_n in_o exchange_n with_o the_o english_a who_o therefore_o shall_v be_v force_v to_o bring_v in_o the_o like_a sum_n of_o money_n from_o beyond_o the_o sea_n as_o the_o dutch_a carry_v out_o of_o this_o realm_n so_o that_o we_o may_v plain_o perceive_v that_o the_o money_n which_o be_v carry_v from_o we_o within_o the_o balance_n of_o our_o trade_n be_v not_o considerable_a for_o they_o do_v return_v to_o we_o again_o and_o we_o lose_v those_o money_n only_o which_o be_v make_v of_o the_o over_o balance_n of_o our_o general_a trade_n that_o be_v to_o say_v that_o which_o we_o spend_v more_o in_o value_n in_o foreign_a ware_n than_o we_o utter_v of_o our_o own_o commodity_n and_o the_o contrary_a of_o this_o be_v the_o only_a mean_n by_o which_o trade_n we_o get_v our_o treasure_n in_o vain_a therefore_o have_v gerard_n malines_n labour_v so_o long_o and_o in_o so_o many_o print_a book_n to_o make_v the_o world_n believe_v that_o the_o undervalue_v of_o our_o money_n in_o exchange_n do_v exhaust_v our_o treasure_n which_o be_v a_o mere_a fallacy_n of_o the_o cause_n attribute_v that_o to_o a_o secondary_a mean_n who_o effect_n be_v wrought_v by_o another_o principal_a efficient_a and_o will_v also_o come_v to_o pass_v although_o the_o say_v secondary_a mean_n be_v not_o at_o all_o as_o vain_o also_o have_v he_o propound_v a_o remedy_n by_o keep_v the_o price_n of_o exchange_n by_o bill_n at_o the_o par_fw-fr pro_fw-la pari_fw-la by_o public_a authority_n which_o be_v a_o new-found_a office_n without_o example_n in_o any_o part_n of_o the_o world_n be_v not_o only_o fruitless_a but_o also_o hurtful_a as_o have_v be_v sufficient_o prove_v in_o this_o chapter_n and_o therefore_o i_o will_v proceed_v to_o the_o next_o chap._n xiii_o the_o merchant_n who_o be_v a_o mere_a exchanger_n of_o money_n by_o bill_n can_v increase_v or_o decrease_v our_o treasure_n there_o be_v certain_a merchant_n which_o deal_v only_o upon_o all_o advantage_n in_o the_o exchange_n and_o neither_o export_n nor_o import_v ware_n into_o the_o kingdom_n which_o have_v cause_v some_o man_n to_o affirm_v that_o the_o money_n which_o such_o mere_a exchanger_n bring_v in_o or_o carry_v out_o of_o the_o realm_n be_v not_o comprehend_v in_o the_o balance_n of_o our_o foreign_a trade_n for_o say_v they_o sometime_o when_o our_o sterling_a money_n have_v be_v undervalue_v and_o deliver_v here_o for_o amsterdam_n at_o 10._o per_fw-la cent_n less_o than_o the_o equal_a value_n of_o the_o respective_a standard_n the_o say_v mere_a exchanger_n may_v take_v here_o one_o thousand_o pound_n sterling_a &_o carry_v over_o only_o nine_o hundred_o thereof_o in_o specie_fw-la which_o will_v be_v sufficient_a to_o pay_v his_o bill_n of_o exchange_n and_o so_o upon_o a_o great_a or_o a_o lesser_a sum_n the_o like_a gain_n be_v make_v in_o three_o month_n time_n but_o here_o we_o must_v know_v that_o although_o this_o mere_a exchanger_n deal_v not_o in_o ware_n yet_o notwithstanding_o the_o money_n which_o he_o carry_v away_o in_o manner_n afore-written_a must_v necessary_o proceed_v of_o such_o ware_n as_o be_v bring_v into_o the_o kingdom_n by_o merchant_n so_o that_o still_o it_o fall_v into_o the_o balance_n of_o our_o foreign_a trade_n and_o work_v the_o same_o effect_n as_o if_o the_o merchant_n himself_o have_v carry_v away_o that_o money_n which_o he_o must_v do_v if_o our_o ware_n be_v overballance_v as_o ever_o they_o be_v when_o our_o money_n be_v undervalue_v which_o be_v express_v more_o at_o large_a in_o the_o 12._o chapter_n and_o on_o the_o contrary_a when_o the_o mere_a exchanger_n by_o the_o say_a advantage_n shall_v bring_v money_n into_o the_o kingdom_n he_o do_v no_o more_o than_o necessary_o must_v be_v do_v by_o the_o merchant_n himself_o when_o our_o commodity_n overballance_v foreign_a ware_n but_o in_o these_o occasion_n some_o merchant_n have_v rather_o lose_v by_o deliver_v their_o money_n at_o a_o undervalue_n in_o exchange_n than_o undertake_v to_o hazard_v all_o by_o the_o law_n which_o notwithstanding_o these_o mere_a exchanger_n will_v perform_v for_o they_o in_o hope_n of_o gain_n chap._n fourteen_o the_o admirable_a feat_n suppose_v to_o be_v do_v by_o banker_n and_o the_o merchant_n exchange_n although_o i_o have_v already_o write_v something_o concern_v the_o merchant_n exchange_n and_o therein_o of_o the_o undervaluation_n of_o our_o money_n and_o of_o the_o mere_a exchanger_n with_o their_o true_a cause_n and_o effect_n nevertheless_o it_o will_v not_o be_v impertinent_a to_o pursue_v this_o business_n yet_o a_o little_a further_o and_o thereby_o not_o only_o to_o strengthen_v our_o former_a argument_n but_o also_o to_o avoid_v some_o cunning_a delusion_n which_o may_v deceive_v the_o unskilful_a reader_n of_o those_o book_n entitle_v lex_fw-la mercatoria_fw-la pag._n 409._o and_o the_o maintenance_n of_o free_a trade_n pag._n 16._o wherein_o the_o author_n gerard_n malynes_n set_v down_o the_o admirable_a feat_n as_o he_o term_v they_o which_o be_v to_o be_v do_v by_o banker_n and_o exchanger_n with_o the_o use_n and_o power_n of_o the_o exchange_n but_o how_o these_o wonder_n may_v be_v effect_v he_o altogether_o omit_v leave_v the_o reader_n in_o a_o strange_a opinion_n of_o these_o dark_a mystery_n which_o i_o can_v think_v he_o do_v for_o want_v of_o knowledge_n for_o i_o find_v he_o skilful_a in_o many_o thing_n which_o he_o have_v both_o write_v and_o collect_v concern_v the_o affair_n of_o merchant_n and_o in_o particular_a he_o discourse_v well_o of_o divers_a use_n form_n and_o passage_n of_o the_o exchange_n in_o all_o which_o as_o he_o have_v take_v great_a pain_n for_o the_o good_a of_o other_o so_o do_v his_o work_n of_o this_o kind_n deserve_v much_o praise_n but_o where_o he_o have_v disguise_v his_o own_o knowledge_n with_o sophistry_n to_o further_a some_o private_a end_n by_o hurt_v the_o public_a good_a there_o ought_v he_o to_o be_v discover_v and_o prevent_v unto_o which_o performance_n in_o this_o discourse_n of_o treasure_n i_o find_v myself_o oblige_v and_o therefore_o i_o intend_v to_o effect_v it_o by_o show_v the_o true_a cause_n and_o mean_n whereby_o these_o wonder_n be_v do_v which_o malines_n attribute_v to_o the_o sole_a power_n of_o the_o exchange_n but_o first_o for_o order_n i_o think_v it_o fit_a to_o set_v down_o the_o particular_a feat_n as_o they_o stand_v in_o his_o say_a book_n the_o admirable_a feat_n to_o be_v do_v by_o exchange_n 1._o to_o lay_v their_o money_n with_o gain_n in_o any_o place_n of_o the_o world_n where_o any_o exchange_n lie_v 2._o to_o gain_v and_o wax_v rich_a and_o never_o meddle_v with_o any_o prince_n commodity_n 3._o to_o buy_v any_o prince_n commodity_n and_o never_o bring_v penny_n nor_o pennyworth_n into_o the_o realm_n but_o do_v that_o with_o the_o subject_n money_n 4._o to_o grow_v rich_a and_o live_v without_o adventure_n at_o sea_n or_o travail_n 5._o to_o do_v great_a feat_n have_v credit_n and_o yet_o to_o be_v nought_o worth_a 6._o to_o understand_v whether_o in_o conjecture_v their_o money_n employ_v on_o exchange_n or_o buy_v of_o ware_n will_v be_v more_o profit_n 7._o to_o know_v certain_o what_o the_o merchant_n gain_n upon_o their_o ware_n they_o sell_v and_o buy_v 8._o to_o live_v and_o increase_v upon_o every_o prince_n subject_n that_o continual_o take_v up_o money_n by_o exchange_n and_o whether_o they_o gain_v or_o no._n 9_o to_o wind_v out_o every_o prince_n ☞_o treasure_n out_o of_o his_o realm_n who_o subject_n bring_v in_o more_o ware_n than_o they_o carry_v out_o of_o the_o realm_n 10._o to_o make_v the_o staple_n of_o money_n run_v thither_o where_o the_o rich_a prince_n will_v have_v it_o to_o be_v bring_v and_o pay_v for_o it_o 11._o to_o unfurnish_v the_o poor_a prince_n of_o his_o provision_n of_o money_n that_o keep_v his_o ware_n upon_o interest_n money_n if_o the_o enemy_n will_v seek_v it_o 12._o to_o furnish_v their_o need_n of_o money_n that_o tarry_v the_o sell_n of_o their_o ware_n in_o any_o contract_n until_o they_o make_v they_o come_v to_o their_o price_n 13._o to_o take_v up_o money_n to_o engross_v any_o commodity_n either_o new_a come_v or_o whereof_o they_o have_v some_o store_n to_o bring_v the_o whole_a trade_n of_o that_o commodity_n into_o their_o own_o hand_n to_o sell_v both_o at_o
do_v they_o likewise_o who_o let_v out_o their_o money_n at_o interest_n with_o the_o same_o hope_n and_o like_a advantage_n which_o many_o time_n notwithstanding_o fail_v they_o as_o well_o as_o the_o borrower_n often_o labour_v only_o for_o the_o lender_n profit_n to_o the_o nine_o and_o eighteen_o here_o my_o author_n have_v some_o secret_a meaning_n or_o be_v conscious_a of_o his_o own_o error_n do_v mark_v these_o two_o wonder_n with_o a_o ☞_o in_o the_o margin_n for_o why_o shall_v this_o great_a work_n of_o enrich_v or_o impoverish_v of_o kingdom_n be_v attribute_v to_o the_o exchange_n which_o be_v do_v only_o by_o those_o mean_n that_o do_v over_o or_o underballance_n our_o foreign_a trade_n as_o i_o have_v already_o so_o often_o show_v and_o as_o the_o very_a word_n of_o malynes_n himself_o in_o these_o two_o place_n may_v intimate_v to_o a_o judicious_a reader_n to_o the_o fifteen_o and_o sixteen_o i_o confess_v that_o the_o exchange_n may_v be_v use_v in_o turn_v base_a money_n into_o gold_n or_o silver_n as_o when_o a_o stranger_n may_v coin_v and_o bring_v over_o a_o great_a quantity_n of_o farthing_n which_o in_o short_a time_n he_o may_v disperse_v or_o convert_v into_o good_a money_n and_o then_o deliver_v the_o same_o here_o by_o exchange_n to_o receive_v the_o value_n in_o his_o own_o country_n or_o he_o may_v do_v this_o feat_n by_o carry_v away_o the_o say_v good_a money_n in_o specie_fw-la without_o use_v the_o exchange_n at_o all_o if_o he_o dare_v venture_v the_o penalty_n of_o the_o law_n the_o spaniard_n know_v well_o who_o be_v the_o common_a coiner_n of_o christendom_n that_o dare_v venture_v to_o bring_v they_o store_n of_o copper_n money_n of_o the_o spanish_a stamp_n and_o carry_v away_o the_o value_n in_o good_a rial_n of_o eight_o wherein_o notwithstanding_o all_o their_o cunning_a device_n they_o be_v sometime_o take_v tardy_a to_o the_o 17._o the_o banker_n be_v always_o ready_a to_o receive_v such_o sum_n of_o money_n as_o be_v put_v into_o their_o hand_n by_o man_n of_o all_o degree_n who_o have_v no_o skill_n or_o good_a mean_n themselves_o to_o manage_v the_o same_o upon_o the_o exchange_n to_o profit_v it_o be_v likewise_o true_a that_o the_o banker_n do_v repay_v all_o man_n with_o their_o own_o and_o yet_o reserve_v good_a gain_n to_o themselves_o which_o they_o do_v aswell_o deserve_v for_o their_o ordinary_a provision_n or_o allowance_n as_o those_o factor_n do_v which_o buy_v or_o sell_v for_o merchant_n by_o commission_n and_o be_v not_o this_o likewise_o both_o just_a and_o very_o common_a to_o the_o 11._o i_o must_v confess_v that_o 17._o here_o be_v a_o wonder_n indeed_o that_o a_o poor_a prince_n shall_v keep_v either_o his_o war_n ot_fw-mi ware_n i_o take_v both_o together_o as_o the_o author_n set_v they_o down_o both_o way_n differ_v in_o his_o say_v two_o book_n upon_o interest_n money_n for_o what_o need_v the_o enemy_n of_o such_o a_o poor_a prince_n deal_v with_o the_o banker_n to_o disappoint_v he_o or_o defeat_v he_o of_o his_o money_n in_o time_n of_o want_n when_o the_o interest_n itself_o will_v do_v this_o fast_n enough_o and_o so_o i_o leave_v this_o poor_a stuffâ—_n to_o the_o 19_o i_o have_v live_v long_o in_o italy_n where_o the_o great_a bank_n and_o banker_n oâ—_n christendom_n do_v trade_n yet_o can_v never_o see_v nor_o hear_v that_o they_o do_v or_o be_v able_a to_o rule_v the_o price_n of_o exchange_n by_o confederacy_n but_o still_o the_o plenty_n or_o scarcity_n of_o money_n in_o the_o course_n of_o trade_n do_v always_o over-rule_v they_o and_o make_v the_o exchange_n to_o run_v at_o â—â—â—h_n or_o low_a rate_n 〈◊〉_d the_o 22._o the_o exchange_n by_o custom_n bill_n between_o merchant_n and_o merchant_n in_o the_o course_n of_o trade_n can_v hinder_v prince_n of_o their_o custom_n and_o impost_n for_o the_o money_n which_o one_o man_n deliver_v because_o he_o will_v not_o or_o have_v not_o occasion_n to_o employ_v it_o in_o ware_n another_o man_n take_v because_o he_o either_o will_v or_o have_v already_o lay_v it_o out_o in_o merchandise_n but_o it_o be_v true_a that_o when_o the_o wealth_n of_o a_o kingdom_n consist_v much_o in_o ready_a money_n and_o that_o there_o be_v also_o good_a mean_n and_o conveniency_n in_o such_o a_o kingdom_n to_o trade_n with_o the_o same_o into_o foreign_a part_n either_o by_o sea_n or_o land_n or_o by_o both_o these_o way_n if_o then_o this_o trade_n be_v neglect_v the_o king_n shall_v be_v defeat_v of_o those_o profit_n and_o if_o the_o exchange_n be_v the_o cause_n thereof_o then_o must_v we_o learn_v in_o what_o manner_n this_o be_v do_v for_o we_o may_v exchange_v either_o among_o ourselves_o or_o with_o stranger_n if_o among_o ourselves_o the_o commonwealth_n can_v be_v enrich_v thereby_o for_o the_o gain_n of_o one_o subject_n be_v the_o loss_n of_o another_o and_o if_o we_o exchange_v with_o stranger_n than_o our_o profit_n be_v the_o gain_n of_o the_o commonwealth_n yet_o by_o none_o of_o these_o way_n can_v the_o king_n receive_v any_o benefit_n in_o his_o custom_n let_v we_o therefore_o seek_v out_o the_o place_n where_o such_o exchange_v be_v use_v and_o set_v down_o the_o reason_n why_o this_o practice_n be_v permit_v in_o search_n whereof_o we_o shall_v only_o find_v one_o place_n of_o note_n in_o all_o christendom_n which_o be_v genova_n whereof_o i_o intend_v to_o say_v something_o as_o brief_o as_o i_o can_v the_o state_n of_o genova_n be_v small_a genova_n and_o not_o very_o fertile_a have_v little_a natural_a wealth_n or_o material_n to_o employ_v the_o people_n nor_o yet_o victual_n sufficient_a to_o feed_v they_o but_o nevertheless_o by_o their_o industry_n in_o former_a time_n by_o foreign_a trade_n into_o egypt_n soria_n constantinople_n and_o all_o those_o levant_n part_n for_o spice_n drug_n raw_a silk_n and_o many_o other_o rich_a ware_n with_o which_o they_o serve_v the_o most_o place_n of_o europe_n they_o grow_v to_o a_o incredible_a wealth_n which_o give_v life_n unto_o the_o strength_n of_o their_o city_n the_o pomp_n of_o their_o building_n and_o other_o singular_a beauty_n but_o after_o the_o foundation_n and_o increase_n of_o that_o famous_a city_n of_o venice_n the_o say_a trade_n turn_v that_o way_n and_o since_o likewise_o the_o great_a part_n thereof_o do_v come_v into_o england_n spain_n and_o the_o low_a country_n by_o navigation_n direct_o from_o the_o east_n indies_n which_o alteration_n in_o the_o traffic_n have_v force_v they_o of_o genova_n to_o change_v their_o course_n of_o trade_n with_o ware_n into_o exchange_v of_o their_o money_n which_o for_o gain_v they_o spread_v not_o only_o into_o divers_a country_n where_o the_o trade_n be_v perform_v with_o merchandise_n but_o more_o especial_o they_o do_v therewith_o serve_v the_o want_n of_o the_o spaniard_n in_o flanders_n and_o other_o place_n for_o their_o war_n whereby_o the_o private_a merchant_n be_v much_o enrich_v but_o the_o public_a treasure_n by_o this_o course_n be_v not_o increase_v and_o the_o reason_n why_o the_o commonwealth_n of_o genova_n do_v suffer_v this_o inconvenience_n be_v these_o first_o and_o principal_o they_o be_v force_v to_o leave_v those_o trade_n which_o they_o can_v keep_v from_o other_o nation_n who_o have_v better_a mean_n by_o situation_n ware_n ship_n munition_n and_o the_o like_a to_o perform_v these_o affair_n with_o more_o advantage_n than_o they_o be_v able_a to_o do_v second_o they_o proceed_v like_o a_o wise_a state_n who_o still_o retain_v as_o much_o trade_n as_o they_o can_v although_o they_o be_v not_o able_a to_o procure_v the_o twenty_o part_n of_o that_o which_o they_o have_v for_o have_v few_o or_o no_o material_n of_o their_o own_o to_o employ_v their_o people_n yet_o they_o supply_v this_o want_n by_o the_o fleece-wools_a of_o spain_n and_o raw_a silk_n of_o sicilia_n work_v they_o into_o velvet_n damask_n satin_n woollen-drapery_n and_o other_o manufacture_n three_o whereas_o they_o find_v no_o mean_n in_o their_o own_o country_n to_o employ_v and_o trade_v their_o great_a wealth_n to_o profit_n they_o content_v themselves_o to_o do_v it_o in_o spain_n and_o other_o place_n either_o in_o merchandise_n or_o by_o exchange_v their_o money_n for_o gain_v to_o those_o merchant_n who_o trade_n therewith_o in_o ware_n and_o thus_o wheresoever_o they_o live_v abroad_o for_o a_o time_n circuit_v the_o world_n for_o gain_v yet_o in_o the_o end_n the_o centre_n of_o this_o profit_n be_v in_o their_o own_o native_a country_n last_o the_o government_n of_o genova_n be_v aristocracy_n they_o be_v assure_v that_o although_o the_o public_a get_v little_a yet_o if_o their_o private_a merchant_n gain_v much_o from_o stranger_n they_o shall_v do_v well_o enough_o because_o the_o rich_a and_o secure_a treasure_n of_o a_o free_a state_n be_v the_o riches_n of_o the_o