Action or have any Property by our Law I think the Authority to maintain it is none at all The constant Practice as well by Princes as People has been always against it But be that Point of trading with or without Licence how it will That Point can't be sufficient to found a Monopoly upon that can't warrant a Grant of a sole Trade sole buying and sole selling to be granted to you and your Successors your Sons your Servants your Apprentices and Factors and such as you shall license for ever Here is a Licence in Perpetuity not only to those that then were but to their Soâ—s and Successors and those whom they shall license for ever And this into a very great Part of the World And by the same Reason all Turkey and Barbary a great Part of the West-Indies and other Parts of the World may be monopolized and perhaps all Christian Countries The Statute of Monopolies hath no Allowance or Exception for monopolizing to Infidel Countries That Statute is against all sole buying sole selling or sole using any thing And the Turkey Trade was used long before that Time as by the Charter granted 23 Eliz. So was the Barbary as by the Charter thereof and I believe to the Indies also And the Statute of Monopolies being so general the Proviso not reasonably construable to except this Company out of the Extent of that Statute unless all Patents that may be granted to Companies of Monopolies are by that Exception or Proviso out of the Statute and deserving for the suppressing so great Evils as Monopolies are and always have been accounted I hope it will not be avoided upon an imaginary Difference in Law betwixt Infidel and Christian Countries to monopolize thereby the Trade perhaps of the greater Half of the World as Turkey Persia Barbary East and West-Indies for those of the West-Indies a great Part I think are Pagans In the great Debates that were about 3 and 4 Car. 1. about the King's Power of imposing Rates Exch. 4. C. 1. Lane 24. 2 Inst 63. Subsidies or Impositions upon Merchandize in Bates his Case and in the Parliaments are many things said concerning the King's Power of prohibiting Trade Restraining by a Ne exeat Regno And from these Arguments they reason the Lawfulness of Imposition upon Merchandize The Arguments and Reasons in those Debates did not distinguish betwixt Infidel and Christian Countries But betwixt Native and Foreign Commodities or Merchandize And did endeavour to have a Prerogative to tax foreign Commodities And their Reasons run thus The King can prohibit or restrain any Merchant to go out of the Kingdom He can restrain any sort of foreign Commodities to be imported If he can restrain then none can go or import contrary to such Restriction or Prohibition without Licence Then the Licence is grantable upon Payment of such or such Duty or Imposition or as it can be agreed for and had and consequently such Imposition Farm or Rent lawful And in the Argument of those Matters it appears that a Restraint in its Consequence may import a Tax or an Imposition or Rent or Farm If Licences be requisite whether that will introduce Rates to be imposed otherwise than by Act of Parliament may be considered Suppose it true that there have been Licences granted to go into Infidel Countries So there have been to go beyond Seas But it is no Consequence that because such have been granted that therefore it is unlawful to go or trade without Licences Much less doth it follow from thence that such a Patent as this to any one or few Subjects to have the whole and sole Trade into any one Place can be warranted I do not question but the King may restrain the Passage of Merchants and Merchandize in some Cases and Embargue Ships in some Cases But these are upon several Reasons 1. In Cases of War 2. In Cases of such Merchandizes as are necessary for the Safety or Defence of the Kingdom to restrain their Exportation 3. In Cases of Plague from particular Place to import But then these Prohibitions are general and their particular Reasons and Grounds are apparent But if under any Pretence any sole Trade to some one Person Body-politick or Natural be granted excluding all others That Grant is I conceive in Deceit of the King and to the Prejudice of his Subjects and void Never any such Grant hath hitherto had any judicial Allowance but so far from that that as far as I could observe no Opinion hath been till within 4 or 5 Years that such Grants were good to exclude others Nor any Action or Suit ever adventured before now to be brought upon any such Ground But if the Law should be so and that the Defendant ought not to have traded there without License Then he may be punishable at the King's Suit by Fine and Imprisonment But that you should maintain an Action against him what Cause of Action or what Damage or Loss to you have you laid in your Declaration You say in your Declaration That the Defendant Sands not being a Member of the Company nor Son Servant Factor Apprentice or Assignee of the Company traded and merchandized in the East-Indies within the Places granted to you by your Charter and hath there bargained and sold Wares and Merchandizes and there bought others and imported and sold them in England against the Will of the Company to their Prejudice and Impoverishment against the Form of the Letters Patents to the Damage of the Company 1000 l. 1. You have not alledged that he had no License from the King 2. You have not shewn any Loss or Damage that you have Did he buy so much Merchandize in the Indies as that he left not there sufficient for you to furnish your Ships withall so that they came home empty No such thing is alledged Or did he here export to sell so much Merchandize as not sufficient left for you to buy here No such thing alledged in your Declaration Or did he bring home here so much as that there were not Buyers sufficient for his Goods and your's also No such thing is alledged Or is the Truth so as that hereby your imposing your Prizes upon your own Commodities selling at your own Rates and exacting what you thought fit was hindred and for this you would maintain an Action It will be the first Time I think that a Man did ever recover Damages for being hindred of imposing and exacting his own Prizes or having the Advantage of his Monopoly A Commoner may bring an Action of the Case against a Stranger who puts in his Cattel into the Common provided that thereby the Common be impaired and the Commoner have not sufficient Common as before but have a Damage otherwise he can maintain no Action Resolved that for every feeding of the Beasts of a Stranger in a Common Co. 9 Rep. 113. the Commoner shall not have an Assize or Action upon the Case but the feeding ought
those Fields which were esteemed at 100 Acres before will then be accounted as 200 Acres and as 200 Acres may descend to the next Heir Sold to a Purchaser or Lett to a Tenant but not likely that therefore the Purchaser or Tenant will double his Price or Rent but will conclude that it will not bear more Grass or Corn for the Acres being so doubled in Name Not likely that the Raising of Money either 25 or 50 per Cent. should have any other effect A Crown piece in such case would pafs from one to another at 6 s. 3 d. where the Receiver is no more concerned than to take it by that Name A Man that is to borrow 100 l. will and must take 320 Crowns as 100 l. and not regret it because by the same Law will expect to pay it back at the same rate But a Man that is to pass away Lands or Goods for it will consider that if any sort of Goods which he may want be Risen that he must be a Loser unless Raise his Lands and Goods that intends to sell in proportion Borrowing and Lending and in some Cases Buying and Selling may be properly said to be the way and means to get Riches but not the end designed by Mens Labours No Man would take any pains and care of that Nature nor improve Lands or Rents but in hopes of Gains to support his Expences according to the port may live in or provide for his Family higher or lower as may thereby be inabled However Money so Advanced may pass for the way and means when comes to that which is the design and end of the Labours of Men will soon find the mistake and that 320 Crowns in his Expences will go no further than 400 Crowns did before and the like in Childrens Portions or making provision for them and it is the end and not the way that should be chiefly minded in this case And the like disadvantage will be found in all Expences for the Publick and Gentlemen that have their dependance on Rents will find One Fifth lost either for along time or for ever and lose One Fifth part of all Debts owing to them must receive for 100 l. 320 Crowns instead of 400 Crowns which unless for payment of Debts contracted before will soon find will lose 80 Crowns in 400. And although it may be argued that the Rents of Lands may also Advance in time yet not having so immediate a dependance on Trade as Commodities that are bought and sold dayly it may be feared that the Rents of Land will be the last thing that will Advance and Old Rents Rent Charges or Annuities never unless a Law be made for that purpose It is difficult to apprehend why it should be thought so easie to make Money which is of so great Concern and upon which most fix their chiefest Considerations pass and serve as the Standard of all Dealings and Commerce according to its Name without any respect to Weight or intrinsick Value and at the same time probably not allow that it is possible to make Land or any sort of Goods to pass by Name without respect to Goodness Value or Weight It being not likely that if by Law Three Fourths of an Acre of Land should be called an Acre or Three Fourths of a Pound of Lead called a Pound that then it would Exchange for as much Silver as before so as unlikely that when Three Fourths of a Crown piece is called a Crown should Exchange for as much Land or Lead as before That some Credulous Persons should be imposed upon to think well of Raising the Coyn not strange but if a whole Nation it would in time be concluded they were either under an infatuation or that they designed to live only for Six Months or a Year That Exchanges and Goods did not immediately Rise upon the Clipping of the Money was because there was more Unclipt than Clipt and the Major over-ruled the Minor but as soon as the Clipt exceeded the Unclipt then that illegal debasing of the Coyn soon had that effect What then can be expected if should be advanced or debased for may be termed either by Authority If the giving of Coyn high Denominations could make it pass accordingly and have the effect of preventing Exportation and occasion the Importation of Bullion how easie for Poor Princes to make themselves Rich But as it appears impossible that any such Advantages should be made by others so that should long continue to us if any could be expected unless we could Enact at the same time that no other Prince or State should Raise their Coyn in proportion which it is probable they soon would if found themselves prejudiced by our drawing away their Coyn by any such Law here Then the Advantages designed would be deseated but the Mischiefs would remain Arguments for the Advancing of the Coyn deduced from the Price of Bullion Price of Bullion that it is worth much more than when Coyned either here or in Foreign Countries if duely examined can have no foundation Bullion or Coyn when Exchanged or Bartered for Commodities or the Commodities may be esteemed higher or lower according to the Plenty or Scarcity of Bullion or Coyn or the Commodities but that Bullion or Silver in Barter of Coyn or Silver of the same Fineness can be or ever was worth any thing considerable more than Coyn or Silver of the same Fineness that is an Ounce for an Ounce cannot be from any Natural Cause only by Accident and therefore no Argument for the Advancing of Coyn For the same Accidents may probably remain though the Coyn be never so much Advanced Where there are Laws that allow of the Exportation of Bullion but prohibit the Exportation of Coyn as now with us when great Quantities of Bullion do not come from Foreign Parts to exceed the occasion of those that send it out to the East-Indies or any other Country where the carrying on of Trade or payment of Debts requires it Bullion will not be carried to the Mint to be Coyned but be sold without for the supplying of those Traders that have occasion who will give for it much above the Rate of Coyn because may Ship it off with impunity And needing great Quantities to be Shipt sometimes in one bottom are loath to adventure the Shipping of Coyn because if a Seizure may prove a Loss irreparable But this may be observed that when we had plenty of Milled Money and Weighty Coyn then Bullion seldom exceeded the Value of Coyn 3 d. per Ounce since that is grown scarce the Price much Advanced In Spain when pieces of Eights are grown scarce at the end of a Year before the Galloons or Fleets arrive or upon any delay or loss of their Fleets then oftentimes are worth 8 to 10 per Cent. Exchange more than at other times but here and there and in all places occasioned by such Laws or Accidents which the Raising of Coyn cannot possibly
be enter'd in our Custom-house Books and therefore not come within the Computation as ought This may in some Cases be true and what Fish is Carryed from Newfound-land or Goods from any place belonging to England ought to be abated out of the Accompt so Stated but Bills of Exchange or Mony from Spain if it appear that would otherways have come Home to us in Bullion is tant a mount as if Carryed from us in Mony and therefore ought not to be allowed Goods Carried from one Foreign Country to another may be allowed as a good Reason for an abatement if are the product of our own It is probable that many and the Richest Goods are sometimes Exported or Imported by Stealth if no inquiry can reach the value of such may happily produce another good effect to use the uttermost diligence to prevent it but it may appear upon due Consideration that it may not be reasonable to allow of any such Goods for a Charge or discharge in making up such an Account for as are smuggled so raise a suspicion that are not Goods approved off by the Government and probably not Convenient should be Exported or Imported But no General rule can be prescribed in this or many other Cases All pretences that our Bullion is not Carried out of the Kingdom to make up the Ballance to any Country from whence we Import more than we Export that it is drawn or remitted by Bills of Exchange from some other Foreign Country should be looked upon as a great suspicion that our Trade to any such Country is not profitable for upon an Examination such pretences may appear to be to the Nation no otherways then with a Merchant that drives two Trades upon making up his Accounts finds that by one of the Trades had got 2000 l. but that by the other had lost 1000 l. though upon the whole is a Gainer yet being the loss by the one must be supplyed by the Gains from the other may probably be fonder of that Trade where he got then of that by which he lost and that unless can be well assured by new Measures to make it more Beneficial not be forward to continue any such Trade The like Rule should be observed by Nations It is probable some other helps may be had to discover the Ballance of Trade from the Rates of Exchange by informations to what our Countries our Coyn or Bullion is usually Carried and by a Judgment made upon the Scituations Policy Customs and Habits of such Countries to which we Trade all which though may not amount to a certain Proof may be sufficient to produce Resolutions for incouraging of those Trades by which it may appear we certainly get and for endeavours to better those where a Suspicion ariseth that we may lose and to discourage those where there appears a certainty that are pernicious Where the Ballance of Trade is against us if we cannot alter it by increasing the expence of our Goods there or by Spending in the Room of theirs the like Goods taken from another Country from whence we may have them on better Terms then the safest way if we can be without such Goods is to discourage the use and expence of them by example If that be not likely to have any effect then high Customs or Prohibitions may be used but Prohibitions should alwayes be the last Remedy when no other way can be found out because may occasion prejudicial Relations especially if Contrary to Treatise of Commerce and if too much Practised may prove such a Stinting of Trade by being of ill Example to others that we that are a Trading Nation should be careful how use them often but no Trading Nation but do take that Course someimes and ought to be practised rather then permit a losing Trade to be carryed on if no other remedy Those Trades may be esteemed good which consume our products What Trades good and Manufactures upon which the value of our Land and Imployment of the Poor depends that increase our Seamen and Navigation upon which our Strength depends that Supply us with such Commodities as we absolutely want for carrying on our Trade or for our safety or Carry out more then bring in upon which the increase of Riches depends On the contrary What Trades bad those that Import more than they Export or bring us in Goods perfectly Manufactured or any sort of Goods that hinder the expence of our own or that carry out Wooll or other Materials to enable Foreign Nations to make Manufactures to be spent in the room of our own or bring in Commodities that are not of necessary use but tend to increase Idleness and Luxurious Expences or are carried on by Foreign Bottoms or Factors or Merchants that are Foreigners not so advantageous as when carried on by our own Ships and People or Trades carried on by the Exportation of Coyn or Bullion Such Heads as these may serve as a Touchstone for the Examination of Trades Most Trades are carried on between Nations by a permutation of Commodities Most Trades carried on by Exchange of Goods as a mutual conveniency for the supplying each the other with what they want Providence having so ordained that different Nations may abound with different Commodities and to want others which makes the Exchange commodious Those that want least and have most to Export to which Industry added to Natural Advantages doth much contribute generally have the advantage but if they should take none though could live without them the like measures would probably be taken by other Countries As Millions of People in this Kingdom have no Livelyhood but what depends upon Trade so great care should be taken how any stop is put to any branch of it or any thing allowed that may decrease it But it being possible that some Men may inrich themselves by and so consequently be incouraged to carry on some Trade that may have a quite contrary effect as to the Nation in general where that appears plain a stop may be put having respect in all proceedings of this kind to this General Rule That Liberty of Trade is absolutely necessary to make it Great and Greatness to make it Beneficial and to observe it accordingly where the foundation for Trade is good Many Traders upon occasions take up Money at Interest Of reducing Interest and some are of Opinion that the reducing of Interest by Law to 4 per Cent. is the only thing necessary to increase Trade and inrich the Nation It 's true Laws have been made formerly for the bringing down of Interest and sometimes for setting Prices on some Commodities and the Price of Interest hath fallen since and Trade increased But it may be a question if it was occasioned by those Laws it being next to impossible to hinder those that have Money or Goods not to make the most some way or other here or elsewhere Therefore others are of Opinion that the increase of Trade
is rather the cause of the falling of Interest than that Low Interest should occasion the increase of Trade and that it was not occasioned by those Laws but by our increase of People Industry and Trade Nations differ so extreamly in Circumstances and Methods of Living and Dealing that we ought to be careful how we take our Measures from any Foreign Nation without due Consideration of their state as well as our own The Dutch Genoueses Florentines and Venetians being well seated for Trade but having not Lands of any great Value the Lands sell high because the Buyers are abundantly more than the Sellers and being there are not Lands for those that have got great Estates by Trade to purchase they are under a necessity to continue their Estates in Trade and their Children to continue the same after them And therefore it may be concluded that it is the Greatness of their Trade that is probably the cause of Low Interest and not that of their great Trade But if they did not outdo us in Frugality and Parsimony they would have little advantage over us by the difference of 1 per Cent. in the price of Interest Money But not Living at One Fifth of the Expence we do gives them a great advantage as to the inriching those Nations A Man of 10000 l. Estate not spending there 200 l. per Annum but here 't is expected that of the like Estate they should spend 1000 l. The Spaniards have large Territories but the People such Enemies to Industry that if they had Money at 2 per Cent. they would never increase Trade as long as they continue of that humour As Gains is the Mother of Trade in general so it hath an influence on its branches or ingredients that are necessary to carry it on of which Money is the chiefest therefore it is probable that all persons that Lend Money at Interest who are usually Widows Trustees for Orphans or such as are Aged or not Industrious if they should be restrained by Law to 4 per Cent. Interest if they cannot by some indirect way make more of it will either hoard it up lend it at the said rate of 4 per Cent. adventure it in Trade themselves lay it out in Land or send it out of the Nation to be Lent out at Interest Abroad How any of these wayes will be more for the Advantage of the Nation then as the case stands at present may be considered If they hoard it up then it will be as so much lost if Lent out at 4 per Cent. on Mortgages then those that have occasion to borrow will have the Advantage and what they save by it must be lost by those that Lend but no Advantage to the Nation only a taking it out of one Mans Pocket to put it into anothers If they Lend it to Trading Men or adventure it in Trade themselves still there will be but the same Stock as before If they lay it out in Land and the Price as to sale should advance upon it then those that Sell would have some Advantage by it and those that Buy pay the dearer but the Lands will be still the same as before to the Nation and unless the Rent advance as well as the Value not incourage Improvement which cannot well be supposed will be practiced by those that take up Money at Interest And if they send it out of the Nation though it return in time with Interest yet we may suffer more by the want of the use of it at Home then we may gain by such Interest made Abroad Interest being abated to 5 per Cent. without a Law is a proof that Laws are not absolutely necessary for any such purpose but that it may be presumed Trade governs Interest and not Interest Trade and it cannot well be comprehended how a Change of 1 per Cent. more should have any great influence upon the Improving or Advancing of Land Increasing of Trade or enable us to outdo the Dutch or other Nations therefore no great help can be expected from any such Law for abatement of Interest but may rather be pernicious by discouraging the use of Coyn. Paper Credit may be of some use as well for the Supply of the Publick Paper Credit as for the carrying on of Commerce which hath occasioned that many Projects have been published and some put in practice for making Paper to pass for Money taking it to be very easie and that it could not fail of a good effect because the like hath been and is still practiced in Venice and Amsterdam and some have gone so far as to assert that Coyn is unnecessary that Paper would do as well In this as in all other Cases relating to Trade and Coyn we should be careful how we take our Measures from Foreign Nations The Banks of Amsterdam and Venice have by their long Experienced Usefulness put such an Obligation upon those Governments to support them that those Banks are become as an Essential part of the Government and the People thereby possest with so good an esteem of them though it is doubted if they have any considerable Funds that as long as those Governments stand the Credit of the Banks are like to stand also the Interest of the Banks being so interwoven with the Government that the Publick Faith must be their support But this may be a Priviledge due particularly to Commonwealth Governments and it may not be found so easie to set up any such Banks under a Monarchy And the Antiquity of those Banks is also a further Security to them and the allowing of Paper Credit there not so dangerous as here The striking of Tallies for the supply of the Publick hath been long practised here and by Authority but Paper Credit for the carrying on of Commerce is new and hath been left till of late to take its own way though a matter of great importance and well worth the care of the Government no footsteps of Goldsmiths Notes passing for Money till since Anno 1650. Gold and Silver is valuable in all parts but our Paper Credit only amongst our selves and that no longer than the Funds or Opinions on which it is grounded stand good though it is not probable that those which have once got Gold and Silver will give it away to a Foreign Nation yet they may be under great temptations rather than undergo the danger and trouble of keeping it when they cannot make any Profit by it to accept of any Overtures for Lending or other wayes imploying it in a Foreign Country which may occasion that a Nation that relyes much on Paper Credit may be thought Rich one day and be found Poor another When a great War happens which only can discover like Death to some great Traders whether a Nation be Rich or Poor then the Paper Credits may fail us and our Money too if due incouragement be not given to increase and preserve our Coyn. Such Credits as far as may be
there be a failure of Payment at the time mentioned and agreed But nothing but having a prospect that Coyn will be ready to pay such Bills at their respective times can make them be preferred to Money nor preserve the Reputation of such Bills or of any Bills Notes or Paper Credit whatsoever but the having Money ready to make a punctual payment at the time prefixt and agreed No such Bills can ever be brought into practice for Marketing and petty Expences None past for Money lodged as a running Cash will hold their Repute longer than paid when demanded None tho' issued out on Land Security payable at certain times not longer than while such Bills or Notes are punctually paid at the time agreed When any failure happens a stop will inevitably be put to the Currency of such Notes or Bills and give a preference to Coyn because People will imagine that Coyn cannot be subject to such disappointments and therefore it is thought convenient to summe up what hath been said upon this Subject with this Conclusion That Gold and Silver hath alwayes been esteemed the Sinews of War Paper Credit may come in as an aid in case of want but not to be depended on either for that or carrying on of Commerce as principal its original and existence being from Credit and Opinion that must be obtained with a prospect that it will continue before any use can be made of it but impossible to prevent its being subject to Chance Wherefore seeing it must be our Coyn that in all cases of extremity must be our refuge it ought to be preferred that care may be taken how it may be increased and preserved As many Families have been ruined for want of keeping Accompts and observing how their Incomes have answered to their Expences so many Nations for want of the like Estimates and Calculations and a true Judgment how far their Coyn as well as their Credit may be depended on to serve their Occasions If it appear hazardous to confide too much in Paper Credit or that it may be difficult to be made useful when our Condition may most need it by any lasting uninterrupted Currency unless by Mortgaging Lands or some good Funds and there be a prospect how Coyn will come in for the discharge of it at the time agreed though Arguments for the Exportation of Coyn for the carrying on a War in Foreign parts for the Honour of a Nation Safety of Trade or the Security of such of our Neighbouring Countries as may be absolutely necessary to preserve our selves may be allowed because may only be for a time yet no Arguments ought to be admitted for the carrying on of Trade so as to occasion a constant Exportation of our Coyn or Bullion because will certainly terminate in a want of those Species and Credit also and bring Poverty and Destruction upon us Asia and Europe afford but inconsiderable parcels of Gold and Silver most comes from the West-Indies and Coast of Afriea of which all Nations endeavour to get shares If upon an inquiry it should appear that all the Silver and Gold that hath come into Europe for these Forty Years last past never amounted to the value of Two Millions and half per Annum of Pounds Sterling and that there is no prospect any greater quantity will be brought in hereafter and that the most we have had hitherto or can well expect for our share hath not or may not hereafter exceed 600000 l. per Annum brought here in Specie over and above what is brought in by Strangers and carried out again and that a lavish Expence at Home of Gold and Silver Lace Wire Fringe or for Gilding and such like uses hath consumed 200000 l. per Annum and that the Northern Trades have ever since the Fire of London carried from us above 200000 l. per Annum the India Trade since the Year 1670 600000 l. the French Trade till in some measure stopt by the War 700000 l. per Annum besides what is constantly carried out by some other Trades and out-goings we shall find reason to conclude that the Stock we had of Gold and Silver hath of late Years decreased and that we are in as much danger to have what now remains diminished as a Gentleman that hath but 750 l. per Annum and yet spends 1000 l. per Annum is of consuming his Estate and that unless we can by altering our course of Living put a stop to such Consumptions and take effectual Methods to prevent the causes that occasion the Exportation of it we shall in a few Years want Money to carry on our Trade Though Bank Notes past on a good Foundation may pass from hand to hand as Money and may so be very useful as a means to carry on Commerce so long as there is a good prospect and assurance that such Notes will be discharged by Money at the time prefixt for the payment of them yet will never deserve the Name of a New Specie nor to be esteemed as Coyn because it will thus only serve as a Pledge to gain Time for the payment of Money but not answer the Ends designed by Money which is finally to pay and discharge Debts which can no more be done by such Bank Notes than a Mortgage that is transferred from one to another can be said to be discharged till the Money be paid off by the Owner of the Estate Mortgaged and Deed cancelled or Estate assigned back The great Advantages which the Duke of Tuscany hath reapt by giving the priviledge of a Free Port to the City of Leghorn Free Ports hath made many Advocates for having Free Ports not well considering that this Kingdom abounds with both Natural and Artificial Commodities People addicted to Trade Ships and Seamen to Transport them to Foreign Markets and the said Duke very few nor any good Foundation for Trade but the Scituation and Convenience of that Port which without the help of Foreigners could not have been Advantageous to him because was under these Circumstances therefore thought good to give incouragement not only to Foreign Ships freely to come and go load or unload any Commodities paying small Duties but also to all Nations to inhabit there with all the Freedom and Priviledges that could be thought necessary to tempt and invite them which as it was a great piece of Policy so had a very good effect for thereby he made that Port a Magazeen for the greatest Trades in the Levant and all Ships and Goods leaving something of clear Gains behind them and the Trade thither increasing to a great degree as many littles make a mickle so it hath in a course of Years not only inriched that Port but the adjacent Country and filled the Great Dukes Coffers with abundance of Treasure However Free Ports may have a quite contrary effect here for as we do not want Goods to Export so not Ships nor Seamen to carry them abroad and bring back what we want
such Duties on many of our Goods as hindered their Expence Therefore not strange the inequality should be so great or that vast quantities of our Bullion Coyn or Treasure was carried from us to adjust those Accompts The immente Quantities of Deales and Timber which have been Imported into this Kingdom Northern for the building Thirty or Forty Thousand Houses in and about London and many in other places since the great Fire added to the Cost of our Naval Stores from Denmark and Swedeland have for Thirty Years brought us Annually much in Debt to those Nations for those Countries take few of our Goods from us therefore most of what we take from them is paid in Money In One Year there hath been Exported for carrying on the East-India Trade India Trades about One Million in Bullion and every Year great Sums Whether the Goods they bring and Export to Foreign parts bring back the like Sums in Bullion may be worth an inquiry There may be other Trades that may have sometimes carried out our Coyn or Bullion but if no great Sums and by the alterations which often happen in Trade do at other times bring back the like Species cannot be so pernicious as these mentioned The Trades we drive to Spain Portugal and Italy Of Spanish Portugal Italy Trades are not suspected to occasion the carrying out of our Coyn though the Wines from the Canaries and Currants from Zant which cost great Sums Annually do abate much out of the Ballance of those Trades which would otherwise stand more in our favour But if great difficulties should appear to any method that can be proposed to prevent it better to be permitted than indanger any interruption in those Trades because upon casting up the total of our Exportation and Importation will probably appear beneficial The Turkey Trade consumes so great quantities of our Cloth Turkey Trade and other Commodities that it may be reckoned as one of our best But of late Years the sending of Silver thither though it be most from Spain or Italy to purchase Raw Silk or other Goods is too much increased may deserve an inquiry to be prevented if possible if not being most is for purchasing Raw Silk to be further Manufactured here or Exported if we cannot have it from any other places on better terms may be found advisable to permit it This Trade is carried on under a Regulated Company whether in all Points convenient or their Charter needs additional Powers or Alterations or the Power lodged in the Company by their Charter be duely executed without oppression or hinderance of Trade may be worth an inquiry Our Trade to our Plantations or West-India Collonies takes off great quantities of our Products and Manufactures Plantations as well as Provisions and Handicraft Wares and furnishes us with some Goods for a further Manufactury and others in great abundance to be Exported to Foreign Nations especially of Sugar and Tobacco And although some Objections may be made against the use and necessity of those Commodities yet being so introduced amongst us as it may be impossible to prevent our having them from other Countries and being a Trade which imployes vast numbers of Ships and Seamen ought to be incouraged for having lost so great a part of our Fishing Trades these Trades and that to Newcastle are now become the chief support of our Navigation and Nursery for Seamen And if all back doors could be shut that all the Products Exported from those Collonies might without diminution be brought to England that what are not spent here might be Re-exported from hence and those Collonies as the proprietors are English made to have their whole dependance on England the fruits of their labours to be as much for the advantage of England as of those that stay at Home then all incouragement by easie Laws Regulations and Protection should be given to them they having more opportunities and being under a greater necessity of gaining more Laborious People from whence Riches must arise to help to make great improvements than England or any other of the Dominions belonging to it And if it be considered what Porests and Deserts have been improved and Riches acquired in some of those Collonies in so short a time as the Age of a Man it must be agreed what hath been asserted That the Original of moveable Riches is from Labour and that it may arise from the Labour of Blacks and Vagrants if wed managed Holland being so near us Holland the Trade between us is like our Home Trade from one Town to another When they have any Commodity they can afford cheaper than we a small Consideration brings it here the like from us to them which amounts to a great quantity in a Year Because being a Trading People they furnish a great part of Germany and many of their Neighbouring Countries being as a Magazine for a General Trade supply what they want of their own by fetching Goods from the East-Indies and other parts by which and by being Frugal and Laborious and having great conveniencies in their Navigation by Building and Sailing cheap they have advanced themselves by Trade more than other Nations that have plenty of their own To adjust how the Ballance of this Trade stands will be more difficult than any other because it varies very much every Year and at this time most difficult because of our Expences with our Army in Flanders but they do take from us great quantities of our Products and Manufactures and of Plantation Goods Which Nation hath the Advantage is uncertain but being very knowing and crafty in Trade a constant watchful Eye should be kept over them Ireland is a Fertile Country Ireland and well Seated for Trade but the People being about Four Fifths bigotred to the Roman Catholick Religion and impatient to be under the Government of England have often occasioned great effusion of English Blood by the many Rebellions which hath made that Kingdom chargable to us It is computed to contain about Twelve Millions of English Acres of Arable Meadow and Pasture and Two Millions of Rocky Boggy and Shrubby unprofitable Lands and about a Million of People therefore well worth improving But the insecurity that ariseth from so great a number of the People being of that Religion the many Lazy Priests that are amongst them and the averseness the Natural Irish have generally to Industry hath been a hinderance to the improvement of that Country and to the making it more advantageous to it self and England And unless some way can be found out to secure their intire dependance upon England grounded as well on Religion as Laws that England may be sure to reap a lasting advantage by the Labours of the People there and they can be brought to be more Industrious perpetual Obstructions will from such Objections arise against endeavours to increase Riches in that Kingdom by improving it to the uttermost which will be a continual
by Land so is England more particularly to diminish their Naval Strength not likely to be effected without solid Counsel a great Charge and circumspection in matters of Trade As hath hitherto made War upon us with much of our own Money gotten by Trade and by the War so may again if we should permit our Trade so to go on as may inrich them and impoverish our selves Nothing can be more dangerous as matters now stand between us and the French than to permit any thing we can prevent that may tend to the increase of their Naval Strength or the diminishing of ours what they have already being such an impending Evil and a Rod over us by the Advantage they have by their Ports in the Mediterranean Ocean and our Channel as may require ever hereafter what may be called a standing Army of Seamen as well as many Men of War in a constant readiness to protect our Trade in which there will be great difficulties as well as to prevent Surprizes which will be a great addition to the Charge of the Government even in times of Peace The Law already made for making all French Goods lyable to pay such extraordinary Duties as amounts to a Prohibition will put a necessity upon them to come to a Treaty of Commerce in which care may be taken that they have not any Advantage upon us by any Trade in Gross Goods but it may be difficult to find out any way to prevent their pilfering upon us by smuggling Trades by which carried on in Goods of no great Bulk in time of Peace they drained us of more Money than by their Gross Goods and since this War have constantly drawn from us great Sums Nothing more like to prevent it and the like from other Countries than a Law that all Wrought Silks Linnens Ribbons Points Laces and such like Commodities shall be forfeited in all hands or places where they are found unless sealed with Seals that may be put on by Officers of the Custom-House or others which may possibly be so contrived as to put it beyond the Art of Man to counterfeit and not be found out Without some such Law and Certificates from Abroad by which it may be known from what Countries such Goods do come not likely to prevent Foreign Nations from putting upon us on any terms what Goods they please of great Value though of small Bulk by which as the King hath alwayes been defrauded of great Sums in his Customs so will ever and the Nation of more by such losing Trades not to be prevented but by a strict Law for siezing of such Goods Also the incouragement of our Silk Linnen and Paper Manufacturies which are the great Staple Commodities of France may conduce very much to the altering the Ballance of that Trade or to bring them upon an equal foot with us If we should hereafter take from them as many Wines and Braendies as formerly they may serve to intoxicate but never to inrich us And though it may be argued that the first Cost and Charges in France of 40000 Tons Shipt Aboard is not above 200000 l. yet it would be a great Mortification to the French if that were with-held hard to be born by their Landed Men whose Incomes arise from those Commodities and be a great incouragement to the Portugal and other Trades from whence we can have Wines in return of our Products but most for our Interest to spend no more Wine than our Forefathers did Those Countries and Kingdoms which we usually comprehend under the name of the East-Indies East-India Trade being Naturally stored with Rich Commodities Materials good and cheap for Manufacturies People ingenious in Fabricking of them and skilful at many Handicraft Trades working in some places for a Penny per Day Wages Spices very plenty because many sorts afford two others four Crops or Harvests in a Year Diamonds in abundance and other precious Stones as well as several sorts of Druggs and other Useful and Valuable Commodities hath fixt the Eyes and Hearts of all the Trading Nations of Europe upon them and occasioned great Contests who shall enjoy the greatest part of that Trade though if should increase the Vaults of the Great Mogul and his Nhabobs may in time prove to Europe as the Gamesters Box to Gamesters get the Gold and Silver near as fast as it may come in from Africa West-India or other places and by the Manufactureed Goods from thence endanger the making of their own Trades in a great measure useless This Trade hath been for many Years managed by a Company with a Joint-Stock exclusive to others which hath occasioned great Contests and Differences amongst the People amounting to a kind of Civil War The Exports for this Trade are most in Bullion and whatever may be objected not less than 600000 hil per Annum taking any number of Years when the Trade was carried on without any great obstruction tho their Charter from King Charles allowed but 50000 hil per Annum and the Imports as may appear by the Custom-House Books are Druggs Saltpetre Wrought Silks Diamonds Spices Thrown Silk Raw Silk Callicoes Indigo Sheets Shifts Cabinets China VVare Cornelion Rings Quilts Petticoats Gowns Neckoloths Ebony Chairs Cotton Yarn Cotton VVooll Ereny Yarn Floretta Yarn Clouts Fans Guinea Shifts Goats Hair Girdles Garters Ink VVax Handkerchiefs Muslins Persian Silks Herba Taffaties Herba Longees Japan VVare Heads for Canes Lacquered Dishes Plates Bowles Trunks Chests Skreens Pillowbeers Landskips Pictures Red Earth Silk knobs VVrought Silks with Gold Slippers Shooes Silk Flowers Table Cloths Baskets Combes Vmbrelloes VVax Candles of which one half in Value are usually Transported and the rest consumed here Being the giving a full Account of the Original Progress Management Causes of the Increase of this Trade and Complaints about it may conduce to the making a good and speedy Settlement of it the following particulars though may appear tedious will not be unnecessary Several Charters have been formerly granted for the Management of this Trade by a Corporation and Joint-Stock which upon an examination will be found were alwayes attended with great Complaints and no good success The last Stock was underwrit by Vertue of a Charter granted Anno 1657 since often confirmed and augmented with extraordinary Powers the Stock then underwrit about 744000 l. of which only 372000 l. was taken in The Trade carried on for some Years by the Exportation of Goods and about 40000 l. in Bullion Shipt off by a Privy Seal or License from the Court for that purpose till Anno 1663 when an Act of Parliament came in force for the Free Exportation of Bullion then it begun to be carried out in much greater quantities but the Importations were chiefly Druggs Saltpetre Spices Course Callicoes and Diamonds until after Anno 1670 then Throwsters VVeavers Dyers and such like Tradesmen were sent out by the Company to teach the Indians to make all sorts of Manufactured Goods in such manner as might best
quantity of the Manufacturies of England The Trade to Africa deserves all incouragement Trade to Africa being beneficial both in it's Exports and Imports Carries from us great quantities of our Draperies made of our Coursest Wooll which would not be vendible elsewhere and many other Commodities we can well spare returns chiefly Gold and Elephants Teeth brought here and great quantities of Negroes that are carryed to our Plantations so that it is hard to name any Trade we drive that deserves better to be inlarged being a Country in which Rivers Bays and Creeks are very plenty It may be a question if we ever yet made the best of it especially as to the Trade of Negroes which the Spaniards are ready to take from us in Exchange of Gold or Silver No Trade more likely to supply the want of Coyn in this Nation nor less lyable to objections that any prejudice can ensue by carrying it on to the largest extent This Trade hath been also managed by a Company in a Joynt-Stock which was Subscribed about the year 1672. Springing out of the Ruins of a former Company A Charter was then Granted and the Powers afterwards inlarged and executed after the Pattern of that for the East-India Trade by which also many Suffered to the greatest extremity and the Plantations whither because they were not plentifully Served with Negroes or not upon good Terms or because they were unwilling to have their all for their being supplied with Negroes is so to them Subjected to the mercy of a Corporation have made frequent Complaints against this Company as well as those that lost their Ships Goods and Liberties or were deterred from Trading thither This Trade was never yet advantageous to any Company Upon the Settling of this last some scrupulous persons took the opinion of our ablest Divines whether it were Lawful or not to Sell and Buy Mankind upon which this Trade doth much depend Most agreed that it was practiced in the Primitive times for which they Quoted good Authorities but condemned their being used ill either at the time of their Transportation from the Country where they were Bought to any other or afterwards and recommended that all Christians should Treat them as having the Image of God and use their best endeavours to instruct them in the Principles of the Christian Religion The covetousness of most Commanders to Carry many to advance their Freight for they are generally paid by the Head as it hath occasioned unanswerable abuses so the death of abundance which should be prevented if possible that their Condition after Bought may be better then before which may be the best Argument that can be given for the Buying and Selling of Mankind All Trades Settled in Joynt-Stocks must restrain the Trade to London from thence all Ships for the Carrying on of such Trades must have their egress and thither must return which as well as the grievances before mentioned will occasion complaints from the rest of the Trading Towns The City of Exon and Bristol and others being as well Seated and Accommodated for Carrying on a Trade for Africa as London The many discoveries that have been made of Countries and Trades which now consume great quantities of our Products were always by bold Adventurers the Incorporating of Trades in Joynt-Stocks will be a discouragement and hinderance to such undertakings for as the Original of such Incorporations is from hopes of Gains as we may Judge by the vast Sums of Mony that have been expended to procure Charters and Support their Powers so the way to make this Gain is to make use of that Priviledge which is a consequent of having a sole Trade to Deal Secure Buy Cheap and Sell Dear from which must follow Adventuring Little rather than much If by 20000 l. Worths of Goods sent to Guiny when bought cheap and sold dear they can get as much as by 40000 l. Bought and Sold at moderate Prices they will to lessen Adventures send only 20000 l. But this Method not is advantageous to the Nation which depends upon the Exportation of as many of our Goods to Africa as can by any means be Consumed there and it is not likely that Companies will make bold Adventures to open New Trades And it may be suspected that the two Charters for the India and Africa Trades which Comprehend above one quarter Part of the World and those Places where it is most likely New and Beneficial Trades might be discovered have been a great hinderance thereto for notwithstanding the many Flourishes that have been made to ingratiate nothing of that kind hath appeared in effect to be done by either of the said Companies As long as we had Judges that were of opinion that the Clauses in these Charters were good in Law and gave Judgments accordingly no application was made to have these Trades settled by Act of Parliament but of late Petitions have been prefer'd for that purpose and it has been proposed that those Trades should be Settled in Joynt-Stocks for 21 Years which it may be feared would in effect subject our best Trades and our Treasure to the Mercy of an East-India Company and the Trade of our Plantations to the Mercy of an African-Company and the variations and changes that usually attend Trade and the great Interest these Companies have for many Years made by which they supported their Powers though Granted only by Charter may be added as Arguments against Settling of those Trades in Joynt-Stocks for 21 Years exclusie by Act of Parliament least whatever Mischiefs or Inconvenienices should attend it a new Settlement or alterations should be found difficult or impossible to be attain'd As there is no president for settling Trades in Joint-Stocks by Act of Parliament for 21 Years and a prospect that may be inconvenient to the Publick so improbable that such a Settlement of the East-India Trade should prove Advantageous to any particular persons excepting the Proprietors and Creditors of the Present Stock to whom the Common Seal is indebted from 5 to 600000 l. upon Loans for as 325565 l. of the Money paid in by the last New Adventurers was presently taken and applyed to pay what was then owing on the Common Seal which now lyes heavy on those Adventurers so either the 750000 l. which was lately proposed to be subscribed and paid in by the New Adventurers if those Proposals should be reassumed and take effect will be taken out immediately and applyed for the payment of the Money now owing and so leave little or none to carry on the Trade or if not paid then must continue running on at 6 per Cent. Interest and so prove a gread load upon the New Adventurers which added to the disadvantageous Valuation of the Old Stock to which they must joyn their Money may probably deter all Persons from adventuring and then the consequence of such an Act will be that the Trade will be secured to the present Adventurers for 21 Years longer which happily is
Dividends be true no good Arguments can be drawn from thence for erecting Corporations in Trade exclusive to others And therefore if the Method proposed for Regulated Companies to Trade in such Goods as may be thought convenient to be received from India can be made practicable should be preferr'd before Joynt-Stocks being the most probable way to make that Trade advantageous it being possible that a Trade may be opened to China for the Expence of our Cloths where great quantities if Introduced would be Consumed and Gold is plenty or from Gambroon to Persia being the Carriage of our Goods that way is not so Chargeable as from Aleppo or to the Kingdom of Mindavo or other Countries or Places of which there are great numbers in those Parts to which we have not yet Traded or that we should then fall into a way of Imploying our Ships in those Parts by Trading from Port to Port The most likely way to make any clear Gains by that Trade and the Trade to Africa under such Regulations most likely to increase the Consumption of our Goods in those Parts The more hath been said about these Trades because it is high time some Settlement were made of them as may be most Advantageous for the Nation The Reasons upon which the Lord Chief-Justice Jefferies grounded his Judgment in the Case between the East-India-Company and Sands as to the validity of their Charter having been Printed and Published it is thought convenient to make Publick at the end of this Treatise the Argument of one of the Learned Council that Argued in the behalf of Sands upon that occasion But whether Trade be Settled in Joynt-Stocks Protection at Sea Regulated Companies or open no Nation can Thrive by Trade without Protection at Sea for though the Merchants after Losses may sometimes Sell their Goods that come in safety so dear as to make themselves a recompence for what Lost Yet that makes no recompence to the Nation for what they may so get by Selling Dear is gotten out of our own People but what lost remains with the Enemy or in the Sea and is so much lost to the Nation No great Trading Nation can be at War with another Nation but must undergo the disadvantage of a Confederacy against their Trade Hopes of making Gain by Privateering will draw all the Sea Vermin upon them from all Parts and therefore where Fleets and single Ships are many Protection must be difficult and yet so Essential that without it Trade will have a quite contrary effect to what designed for what is taken by Enemies will inrich them and impoverish our Selves but impossible to agree on any Scheme but what must be subject to many variations and changes Enemies may incresae their Strength and alter their Stations and the going and coming of Fleets and Ships uncertain and hard to be Regulated Storms may occasion separations and Winds and Weather a disappointment to any thing that can be designed to which remedies must be applied as such Emergencies may require but little hopes of a good effect unless our Men of War be so provided or ordered as that they may spend more time at Sea then in Port and a Breach could be made upon the Methods our Enemies have taken to Ingross Intelligence A constant Fleet of Men of War at the Chops of the Channel and Guard Ships to ply about our Chief Head-lands and enterance to our Chiefest Ports may force Privateers to look for their Prey further off at Sea where they are not so sure to meet it to which the Carrying on of Trade by Fleets and those Protected by good Convoys may be a further security Protraction of time for the departure of Convoys whether occasioned by Merchant-Ships or Convoys not being ready hath occasioned great Losses and should be prevented if possible Our Steights and Plantation Trades being remote will always require a particular care and great Strength to the diminishing of our Convoys for other Parts How to secure all is a matter of so great difficulty that it may be much easier to find Fault then provide effectual remedies though of all things the most desirable belonging to Trade and therefore Necessary to be considered by our greatest Councils Book of Rates The Book of Rates by which the Prizes of all Goods are Regulated at the Custom-House for the Payment of the Customs and Duties being of above 30 Years standing though some additional Duties have been since laid on some Commodities is a Burthen if not a Grievance because some Commodities are since the making of that Book so Risen and others so Fallen in Price that it Carries no equality As the perusal and new Settling of it might be a great ease to Trade without any diminution to the Kings Customs so by it much might be done towards the Regulation of Trade by increasing or diminishing the Duties and if some recompence could be found that the Impositions now Paid on our Manufactures and Products Exported might be taken off and none Paid for the future would occasion the increase of the Export and Consumption of them for though the Duty be not great yet being an addition to the first Cost and paid before Adventures born it is a great discouragement to Exportation and that addition to the cost is some hinderance to the Consumption abroad The Act of Navigation though a very good Act in the main Acts of Navigation yet having been made also many Years since may deserve an inspection for some Clauses may appear convenient to be repealed and others Strengthned to Fence against such Contrivances as have been carried on to defeat the intent of that Act. Imployment of Ships The Commanders of our Merchant Ships and Seamen had formerly so great a repute for their Courage and Integrity that all Foreign Nations did covet to imploy them which was of great Advantage to us but much declined before this War if not Lost other Nations getting the preference The Cause imputed to the Debauchery and carelesness of our Seamen which rendered them unfit to be trusted in the opinion of those that had occasion to imploy them The reducing them to good order and Sobriety that we may recover our Credit with Foreign Nations would be of great use for what so gotten would be clear Profit and the Imployment so given to Ships and Seamen an increase to both Some are of opinion that Laws for Regulating of Trade are unnecessary Laws necessary jor Regulating Trades if not inconvenient and that it had better be left to take its own Course but this opinion hath been contradicted by Experience and if it should be allowed as a General Rule will upon inquiry be found lyable to many exceptions Merchants and Traders in carrying on their Trades have regard chiefly to their own Interest whether their Gains arise by what they Export and sell Abroad which can only tend to inrich the Nation or out of our own people by what Imported and
sold dear to them though spent in Luxury which may impoverish the Nation hath not hitherto been thought their province to mind If the management of all Trades be left to discretion without restraints or incouragements from Laws no doubt but that the Traders will be careful to pursue those that afford them most Gains with diligence and industry but it is probable decline those where cannot have such expectations for themselves though afford a prospect of Gains to the Nation More of Real Riches may be acquired by the Fishing Trades than by others that may appear more glorious but those will be most followed that afford most Gains to particular persons unless Authority interpose and afford help as there may be occasion If a Merchant can by sending out 20000 l. in Bullion bring any sorts of Goods home that may sell for 40000 l. the Merchant may by such an Adventure get 20000 l. to himself and yet the 20000 l. sent out in Coyn or Bullion may be so much lost to the Nation unless such Goods be proper for a further Manufactury or to be Exported Some Traders have made great Gains by diminishing the Length Breadth or Goodness of some of our Staple Commodities which cannot be gotten by any such contrivance without a great hazard of loss to the Nation because its probable the expence of such Goods will decline upon a detection of such Abuses As the Act of Navigation hath been in many respects advantageous so other Laws might have prevented what we have suffered by the French Trade and the inconveniencies we lye under by the present management of the Baltick Trades which with other instances that might be given would make it clear that without a continuance or reassumption of Care in the Government Trade will lye open and be exposed to the incroachment of Foreigners and our own people and that it is high time now to take it into consideration because most of the Laws that have been made relating to Trade since the Act of Navigation may be presumed were calculated rather for particular Interests than publick good more to advance some Tradesmen than the Trade of the Nation If the meaning of leaving Trade to take its own course be limited to Trades carried on by the Exportation of our Products and Manufacturies not lyable to any great Objection as it relates to that only for the Care of the Government will then only be necessary how to incourage promote and secure such Trade that it may continue and increase but if our Importations Consumption at Home and the Exportation of Coyn or Bullion be left at liberty we may drive a great Trade and yet in the end be found losers by it As many particular persons have Traded away their Estates and been reduced to Poverty by Buying Selling and Trading without any Losses at Sea so a Nation may exhaust their Treasure and become Poor by Trade unless Care be taken to prevent it If all Trades should be left to take their course till they mend themselves we may be reduced to a low ebb before that may happen for in most Cases nothing but our Poverty and Inability longer to support a bad Trade like to occasion any such change As too many Limitations of Trade may be inconvenient so too much Liberty dangerous After an exact inquiry into the general state of Trade upon which the state of the Nation doth much depend good Resolutions good Examples and good Laws will be found necessary for the putting of bounds to the prodigal expence of Foreign Commodities and increase of pernicious Trades otherwayes some Trades will prove to the Body Politick as a Canker or Consumption to the Body Natural If the state of our Trade in Woollen Goods The declining state of our Woollen Goods which is of the greatest importance to us be considered there will be found great Reason to fear that it is on the declining hand as well occasioned by the alteration of Habits and Fashious in several Countries which hath brought in the use and expence of more Silk than formerly to which our own Examples have contributed as also because Manufacturies of Wooll are set up in Ireland Portugal France Germany and other places which threaten the destruction of ours Upon an inquiry it will appear that few Merchants have inricht themselves by the Exportation of our Woollen Goods or Products for these 30 Years past though they have been Exported in great abundance yet rather out of Necessity to imploy Ships or to provide Effects than out of Choice and that their chief hopes hath been that Goods brought Home would sell dear and that they should thereby make their profit and so have made their Gains out of our own People and not out of Foreigners which as to the Nation makes a great alteration in Trade For though we have thus been provided with what we wanted from Abroad yet so costly to us as that our Riches have been impaired thereby The great Losses we have had by Sea in these Seven Years War with France Ways and means to increase our riches will not be recovered without more than ordinary Care If a great Stock be absolutely necessary to carry on a great Trade we may rationally conclude that the Stock of this Nation is so diminished that it will fall short and that without Prudence Industry and good Husbandry we shall rather confume what is left than recover what we have lost No particular Person nor Nation was ever fettled upon any foundation so secure but might destroy themselves We ought not to conclude we shall be Rich and Happy whether we will or no. Care and trouble is alotted to all Men the greatest Nations having in all Ages been subject to Mutations and Vicissitudes of Fortune either by their own folly and ill management or because the Race is not alwayes to the swift nor Battle to the strong but as Prosperity hath usually made Men careless so Adversity ought to make them serious and cast about how they may mend their condition If upon an examination it be found that we have walked in indirect paths and thereby or by misfortune consumed or lost much of our Treasure Stock and Trade and brought our selves into a precarious condition it will be in vain to continue in the same and longer depend upon sandy foundations and neglect to use such means as are in our power to establish us in a better it appearing by the new Coyning of our Money and by the Trades we yet drive and great Fleets we have that there is not only an Ability in the Nation but also a Spirit in the People which if cultivated improved and incouraged by proper Methods might be sufficient to attain that end Nothing more convenient than that good Resolutions upon solid Consultations should be taken in order thereto Such Observations as these Reformation at home upon matters relating to Trade and upon several other Trades we drive to other Countries might be
inlarged but if these hinted at appear to be the most material and sufficient to occasion a more exact inquiry no more was designed least should divert too much from looking into what is of great importance in order to amend our Condition our Trade Practices and Oeconomy at Home For it will be difficult if not impossible to retrieve what we have lost or be establisht in a good condition for the future by any Settlement or Lawes that can be made in reference to our Foreign Trades unless the Genious of our People course of Living and Management can be so changed as to cooperate therewith Not using proper Methods to get or consuming Riches assoon as got will render all endeavours of that kind ineffectual As Idleness and the transports of Luxury have brought us into this condition so the contrary practices most likely to afford us a cure If the original of our moveable Riches must be from Labour Industry and Foreign Trade and the way to keep and retain Riches when got must be by good Husbandry in the consumption and expence of the Goods of Foreign Nations and in all our Dealings with them no reformation can be proposed that can do us any good but what must begin amongst our selves Though several sorts of Trades and Imployments must be allowed as well for the support of the Publick as for private Families yet a great difference should be made between such Trades and Imployments that in their nature and design tend to get and bring Riches into the Nation and those that can only serve to make it change hands for when such Trades are increased to be extensive and numerous they will prove a hinderance to those Trades that are most subservient to bring it in by drawing off both Stock and People If to maintain vain and extravagant Customs and Habits 1000 Persons be imployed instead of 500 that would do as well for what is necessary as in many Professions might be instanced then 500 of the 1000 instead of being useful to the Nation must live by preying pilfering or spunging upon other Mens Labours The new Buildings about London have occasioned the drawing of great numbers of People out of the Country where they were very necessary and useful to live in London upon such Imployments and indirect ways For it may be difficult to give an instance where any great numbers of Artificers or Manufacturers are set up in those Buildings excepting in Spittle-Fields and places adjacent where such did formerly inhabit That great Estates have been gotten of late Years and that persons of all degrees live more splendid and expensive than in former Ages cannot be any proof that our Riches are increased unless it did also appear that such Estates had been acquired by the Exportation of our Products and Manufacturies and Gains made on them or by some other profitable ingagements with Foreigners If gotten at Home amongst our selves then it could not add too nor diminish the Stock of the Nation though might occasion a great alteration in the Fortunes of particular Men. A prodigal expensive way of Living is a proof that a Nation hath some Stock and Riches but as all extravagant Expences have a natural tendency to exhaust the treasure of a Nation so ought rather to create a suspicion that such a Nation must grow Poor than afford any Argument that therefore must be Rich. The Millions of Money gotten by farming the Revenues Advantages taken in receiving and paying the Publick Money and by several other wayes unknown in former Ages as it occasioned the giving of great Supplyes which hath fallen hard upon the people to make good what was thus gotten out of the Publick Incomes and diverted to private uses so when Land could not well bear the Charge was levied by several Impositions on Trade which as they have been so ever will be as long as they are continued a load upon some Foreign Trades so the drawing of such great Sums of Money out of its right channel hath made a great alteration in the imploying of the Stock of the Nation and of the People For though Impositions on Trade are in effect but a charging Land or Landed Men by another name at least with the greatest proportion of what so charged yet being the Traders are first to pay it and such Impositions have alwayes been found troublesome and a hinderance to Trade and so a diminution of their Profits they will alwayes think themselves most concerned therein If upon an inquiry into the usefulness of the several Orders Ranks Degrees and Imployments of Men it appears that Merchants Tradesmen and Seamen and such as are imployed under them that carry on our Foreign Trades Husbandmen and such as are imployed under them to make the Products of the Earth useful are chiefly those that can be a means to bring in Riches or to provide Necessaries for the support of a Nation then nothing can be more necessary and beneficial than to use all means to incourage and increase such and to discover what Trades and Imployments are practiced that are unprofitable and useless that they may be discouraged or rather discharged as a superfluous burthen and a load upon the Nation least such like Pharaohs lean Kine should in time destroy those that are good As the Imployment and good Management of our People must be the way to get Riches so good Husbandry in our Dealings with Foreign Nations will be found the best and surest way to preserve and retain them The expence and consumption of such Commodities as have and are alwayes like to be purchased with our Money should in the first place be taken care of that we may have as few of such as may consist with our Safety and Interest It is true that the continuance of Trade depends much upon a mutual conveniency but the advantage and increase of Riches expected by Trade depends upon our Exporting more Goods than we Import to which nothing can conduce so much as the making at home as many sorts of Goods as is possible or having them from Foreign parts for Transportation so cheap and good as that they may be preferred by and sold to Foreigners by us before the Goods of such other Nations as are our Competitors and the spending of no more of our own Goods or of those we bring from Foreign parts at home than our necessities require is the best way to run little in Debt to Foreign Nations for then we may either bring the less or have the more to Transport to Foreign Markets All prodigality at home in the consumption of Commodities that are fit for Foreign Markets is in effect a consuming of so much of the Treasure of the Nation because would yield and produce Treasure more or less if it were not so consumed from which it may be concluded that as nothing is more dangerous to reduce a Nation to Poverty than an unlimited vain prodigal way of Living so impossible to propose any
is not only the Members of the Company that were at the Time of the Corporation but those that after should be Members and their Sons their Apprentices Factors and Servants that are licensed by this Patent If licensing to trade with Infidels be a Trust and Prerogative in the King to be given to such Persons in whom the King can have Confidence that they will not be conversing with Infidels change or prejudice This can't be granted to a Body Politick and their Successors which may have Continuance for ever or to their Sons Factors Apprentices and Servants Persons altogether unknown not born nor in rerum natura when the Patent was made Suppose such a Licence to you to trade with Enemies I say 3. Supposing it to be in the King's Prerogative in Preservation of Religion to licence yet he can't grant this Prerogative to you that you shall have Power to grant Licence to whom you will Yet all this is done by your Patent for you have not only thereby Power granted you for your Apprentices Factors and Servants which are Persons that you your selves nominate and appoint at your Discretions and undoubtedly very religious But by your Patent it is expresly granted that the Company for any Consideration or Benefit to themselves may grant Licences to any Merchant Stranger or other to trade to or from the Indies And that the King will not without the Consent of the Company licence any other to trade Can this be a good Grant Can the King grant from himself his Kingly Care and Trust for Preservation of Religion to you that you shall manage it and that the King will not use such his Power without your Consent So that supposing that there is by the Law such a Trust reposed in the King for Preservation of Religion as you would have it yet the Grant to you is void in it self and then you have no more Right than we and consequently can maintain no Action against us 2. To consider the Books that you have cited to maintain this religious Point 1. Brownlow's Reports a Book printed in the late Times not licensed by any Judge or Person whatsoever The Roll is Michelburn against Bathurst Mich. 7 Jac. B. C. Rot. 3107. setting forth that the King had granted the Plaintiff his Commission to go with his Ship Tiger to the East-Indies to spoil and suppress the Infidels and to take from them what he could That there were Articles betwixt the Parties for Account and Shares of what should be got and upon those Articles a Suit in the Admiralty And what is it that is in the Case Nothing to the purpose but the Book mentions only what my Lord Coke said upon the Motion for the Prohibition Only a sudden occasional Saying not upon any Argument or Debate nor to the then Case So that a Man must be very willing that will much rely upon such a Saying I can't call it an Authority 2. For Calvin's Case That an Infidel is perpetuus Inimicus and can maintain no Action or have any thing and that we are in perpetual Hostility and no Peace can be made with them It is true that this is said in Calvin's Case but there was nothing there in Judgment that gave Occasion for it so that I can't think that it was much considered before it was spoken The Books there cited to prove it are Reg. 282. And all that I can find therein is that in a Writ of Protection granted to the Hospitallers of the Hospital of St. John's of Jerusalem it is said that the Hospital was founded in Defence of Holy Church against the Enemies of Christ and Christians But doth this prove that Infidels are perpetui Inimici with whom no Peace can be made that can maintain no Action The other Book cited is 12 H. 8.4 a Trespass brought for taking away a Dog and in the debating whether this Action did lye or not it is said That if the Lord beat his Villain an Husband his Wife or a Man outlawed or a Traitor or a Pagan they shall have no Action because they are not able to sue an Action So that this also is but Discourse and sudden Thoughts and Sayings where the thing was not in Question And what Authority is there in such Sayings It is true that Christian Religion and Pagaism are so contrary one to the other as impossible to be reconciled no more than Contradictions can be reconciled But because they can't be reconciled that therefore there should be perpetual War betwixt them and us perhaps is an irreligious Doctrine and destroys all Means of convincing Infidels to the Faith And besides these extrajudicial and occasional Sayings in these Books cited are of little Authority For I can't find any Book or Case much less Judgment or Authority for such Opinions in so great a Point as this is But on the other side if a Man considers the general Course and Practice Trade and Commerce and legal Proceedings a Man would think That my Lord Coke could not be in earnest in what he hath said about Infidels For let a Man consider what a great Part of the World we have Commerce with that are Infidels as Turks Persians the Inhabitants of Barbary and other Countries Spain and Portugal were also possessed by the Moors who were Infidels till about the Year 1474. about 200 Years since they were driven out for till then for near the Space of 700 Years the Moors possessed both Spain and Portugal Have we not Leagues and Treaties with the Princes and Inhabitants of the Infidel Countries receiving Embassadors from them and sending Embassadors to them and Ministers always residing with them Have we not from Time to Time Peace or War with them in like manner as with Christian Kings and Countries If Infidels be perpetui Inimici if in perpetual Enmity then we may justifie the killing of them as those that we are in Hostility with wheresoever we meet with them 17 E. 4.13 b. 2 H. 7.15 Adjudged that any Man may seize and take to his own Use the Goods of an alien Enemy 'T is the Price of his Adventure and Victory over his Enemy If an Infidel be any Enemy any Man may then take away the Goods of an Infidel and have them to his own Use And this would be a good Trade if this be so Mr. Sollicitor in his Argument was pleased to cite many ancient Rolls out of H. 3. and E. 1. and about those Times concerning those Princes handling the Jews In Mr. Pryn's Book that he calls The second Part of a short Demurrer to the Jews long discontinued Remitter into England printed in 1656. In which Book I believe an hundred Records and Histories are cited to shew how they were about those times handled The Time that they did exact and much enrich themselves by Usury to the great Impoverishment of the People And that the Princes of those Times polled them taxed them and took it from them again at Pleasure