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A06785 The center of The circle of commerce. Or, A refutation of a treatise, intituled The circle of commerce, or The ballance of trade, lately published by E.M. By Gerard Malynes merchant Malynes, Gerard, fl. 1586-1641. 1623 (1623) STC 17221; ESTC S111905 76,643 152

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THE CENTER OF THE CIRCLE OF COMMERCE OR A Refutation of a Treatise Intituled The Circle of Commerce or The Ballance of Trade lately published by E. M. By GERARD MALYNES Merchant Magna est Veritas praeualuit 〈◊〉 semper praeualebit LONDON Printed by VVilliam Iones and are to be sold by Nicholas Bourne at the Royall Exchange 1623. Regina Pecunia Loquitur Haec gaudere facit sapientis nomine stultum graue Prudentis munus obire viri Quisquis in hac non est sapiens quasi stultus habetur quasi quod Vacuum sit Ratione caput Regnat in incertis Regina Pecunia Rebus moribus Ambiguae quae stat in orbe deae TO THE MOST Illustrous and most excellent Prince CHARLES Prince of VVales Duke of Cornwall Earle of CHESTER c. It may please your Highnes THE Oracle of Apollo at Delphos being demanded why Iupiter should be the chiefest of the gods sith Mars was the best Souldier Answered Mars is valiant but Iupiter wise concluding by this that Councell and Policy are of more force to subdue then Valour Parua sunt Arma foris nisi sit Concilium domi saith Cicero but forasmuch that neither wisdome nor valour can well subsist without treasure since Moneys haue obtained the title of the sinowes of war and the life of Commerce I hope that the accumulating thereof may properly be called The Praeheminent study of Princes when the same is procured by Trade which is the sole peaceable instrument to inrich Kingdomes and Common-weales This Trade is performed betweene vs and forreine Countries vnder three simples namely Commodities Moneys and Exchanges for Moneys which being ioyntly and distinctly considered in their proper natures will cause our decayed Trade to flourish but because one Edward Misselden did omit to handle the Praedominant part of Trade in a Treatise Dedicated vnto your Highnes Intituled Free Trade viz. the Mistery of Exchanges and that not without an aspersion laid vpon me I was moued to make an answer thereunto shewing his maine scope to be to haue the moneys of the Realme inhaunced and the forreine Coyne to be currant at an equall value which was to reforme things by a Remedy worse then the disease for the inhauncing of our Moneys wil increase the prices of all things whereby the Kings most Excellent Maiestie shall become the greatest loser in the reuenewes of the Crowne and the Nobility and Landed men also and to make forreine Coyne currant within the Realme will ouerthrow his Maiesties Mint and abrogate a marke of Soueraignty the Coyning of Moneys Hereupon hauing in the Epistle Dedicatory of the said Treatise vnto his sacred Maiestie intituled The Maintenance of Free Trade compared the same vnto the Little Fish mentioned by Plutarch swimming before the Great VVhale because I had then vnder the Presse a great volume of Lex Mercatoria Dedicated likewise vnto his Maiestie and both presented vnto your Highnes The said Misselden carping at the Simile and directing his course from your Highnes hath lately published an opposition to the said Bookes called the Circle of Commerce copious of vnciuill speeches whereby in respect of priuat cause I haue great occasion to implore his Maiesties fauour against him As Homer did Ptolome the great King of Aegipt against the rayling cōmentaries of Zoylus But the matter concerning the Publike and being of farre greater consequence then a centention for Learning I am compell●d humbly to beseech your Highnes to intercede for me vnto his sacred Maiestie to be well pleased to peruse this my third Booke intituled The Center of the Circle of Commerce wherein the meanes to prouide his Kingdomes and Dominions with Bullion Moneys are more distinctly declared according to the said Center of Cōmerce which is gaine without which his Circle is vaine To make A Definition of the Center of the Earth is difficult euen amongst learned Philosophers and Schoolemen considering Aristotle his Doctrine grounded vpon Leuity of things ascending and Grauity of things falling to their Center and the opinion of Copernicus or rather of the Pithagorians ascribing a Stability to the Heauens and a Mobility to the Earth But to make a Definition of this Center gaine is easie and engraffed in euery mans iudgement This Center maketh a perfect Orbe including all Geometricall proportions and can answere all Mathematicall Problemes of Trade for the doubling of the Cube of Solids and the Quadrature of the Circle in Plaine without Platos Exposition or Misseldens conceited Ballance of Trade for all the weight of Commerce falleth within the Circuit of the Circle of this Center gaine insomuch that if the due consideration hereof be neglected in the course of Trade nothing can be expected but the decay of Trade and destruction of Common-weales according to the Demonstration of the following Allegory to a diseased body naturall so that Statesmen and Politicians are to bend their iudgements in all publike causes to this Center gaine which beareth the sway in all humane actions thereby to finde out all fallacies and misprisions of Trade to the increase of the Kingdomes stocke without priuate regard of particular Merchants making their benefit by the generall losse of the Kingdome there is no man so simple but will auoide a losse if he can and on the contrary procure a gaine where he may or can Shall it be imagined then that Bullion Moneys will be imported when the bringer thereof becommeth a loser or that moneys will remaine within the Realme when so great a gaine can be had by the exportation thereof Or will any man think that Trade can be driuen conueniently without moneys and Exchanges will not the want of it make a dead Trade within the Realme when this Vitall spirit of Commerce faileth surely it is questionles in euery mans vnderstanding Your Highnes therefore may be pleased to aduance the establishing of this Center in the course of Trade whereby his Maiesties Kingdomes and Dominions will flow with Bullion and Moneys and infuse life thereunto which will be felt by the Pulces the Hammers of the Mint vpon my life and reputation of knowledge which time and occasion seeme to further by the price of Exchange inclining thereunto since this Treatise hath beene vnder the Presse If any thing therein shall seeme impertinent to the Grauity of the Center I beseech your Highnes to attribute the same to the Leuity of the Circle the rather because Nugae seria ducunt Thus with all humblenes taking leaue I shall continue my feruent Prayers to the Almighty to preserue your Highnes in health and happinesse to his glory and your eternall felicity London the 20. of Nouember 1623. Your Highnes most obedient Seruant GERARD MALYNES THE CENTER OF THE CIRCLE OF COMMERCE OR A Refutation of a Treatise intituled The Circle of Commerce lately published by E. M. The Proeme STrong imagination nourished by opinion may cause most men to suppose that Edward Misselden Salust of S●allenger in whom the Babilon of learning
conclusion in the gouernment of State-affaires wherein he is a meere nouice But my intention is to be briefe and substantiall To end therefore this matter of Ballance it may be thought strange that some men would be seduced thereby Discourse of the East India Trade by T. M. P. 49. 52. and giue bridle to the present course of Trade expecting an ouerballance to happen on our side without remouing of the causes after they had spoken well concerning exchanges although they confessed to be a ground as a matter much too high for their handling saying That the abuse thereof is very preiuditiall vnto this Kingdome in particular whilst in the interim the benefits doe arise vnto other Countries who diligently obseruing the prices whereby the moneys be exchanged may take aduantage to carry away the gold and siluer of this Realme at those times when the rate of our Starlin money in exchange is vnder the value of that standard vnto which place they are conueyed for in respect the prices of the exchanges doe rise and fall according to the plenty and scarcity of money which is to be taken vp or deliuered out the exchange is hereby rather become a Trade for some great moneyed men then a furtherance and accommodation of Recall Trade of Merchants as it ought to be in the true vse thereof and thus many times money may be made ouer hither by strangers to a good gaine and presently carried beyond the Seas to a second profit And yet the mischiefe ends not here for by these meanes the Takers vp of money in forraine Countries must necessarilie driue a Trade to those places from whence they draw their moneys and so do fill vs vp with forraine Cōmodities without the vent of our owne Wares c. And thus wee see how the ouerballance of Commodities is proceeding from the abuse of exchanges which ouerrule moneys and moneys ouerrule Commodities as heretofore is manifestly declared That the vnderualuation of our moneys in exchange is the efficient cause of the ouerballancing of Trade Vnderualuation of our moneys inexchange is the efficient cause of the ouerballancing doth appeare vpon the consideration of the causes depending one vpon another inforced by this Primum-Mobill as followeth 1. The vnderualuation of our moneys in exchange 2. proceeding of the inhauncing of moneys beyond the Seas which causeth 3. by gaine the transportation of our moneys 4. and debarred by losse to be sustained the importation of moneys and Bullion 5. hindreth also the bringing of Royalls of 8. vnto vs being otherwise diuerred 6. The forraine Commodities are risen in price according to the moneys inhaunced 7. The natiue Commodities are in price vndervalued according to the vndervaluation of our moneys all which are feareful effects For the treasure is exhaunced the Realme impouerished and money is made a Merchandise And this cannot be cured but by the contrary as shall be declared in the remedies Hitherto wee haue obserued and manifestly proued First That exchange is the publike measure betweene England and all places where wee deale by exchange Secondly That the moneys of the Realme are vndervalued in exchange betweene vs and other Countries And thirdly That Gaine is the Center of the Circle of Commerce and that the said vnderualuation is the efficient cause of the ouerballancing of Trade and withall we haue showed that 〈◊〉 conceited Ballance of Trade proposed by Misselden can be but a Triall and Discouery of the ouerballancing of Trade without that it can produce any other benefit to the Common-wealth By his last Ballance wee may perceiue that all the Commodities exported and the Commodities imported yearely doe amount vnto fiue Millions or fifty hundreth thousand pounds according to our obseruation in the Canker of Englands Common-wealth Now if the losse by exchange were but ten vpon the hundreth which wee haue proued aboue three-score and tenne it would amount to fiue hundreth thousand pounds yearely P. 37. The losse whereof is greater to the Kingdome then all the moneys employed to the East Indies commeth vnto An incredible losse which Misselden affirmeth to be an abominable vntrueth which I cannot but retort vpon him because he is vnfortunate to finde out the truth as shal be made more plaine in the following Chapter for he is in league with equiuocation in all his refutations which challengeth to be Cusen Germaine to trueth making his speeches a Centaure halfe a man halfe a horse or like one of the broodes of Nilus halfe earth halfe froggs a thing both shapelesse and shaped in one mixture which it thus distinguished by the Equinoctiall in this place CHAP. IIII. An Examination of the Center of Commerce in the Trades from England into other Countries THe Tropicke of Capricorne being the fourth Zone or girdle by our distribution is to vnderp●op and sustaine by the gaine of Trades the said Center or Gaine within the circumference of the Circle of Commerce not by an absolute power to be left vnto Merchants in the managing of Trade or in the disposing of moneys Commodities and exchanges for moneys but by a direction grounded vpon Lawes Ordinances and Proclamations For in regard of State affaires Merchants are ignorant in the course of Trafficque for asmuch as they doe onely study for priuate benefit so that they must haue leaders and conductors whereunto Buckes and Goates haue been compared in times past leading the silly sheep to feede in mountainous places To proue therefore that this is no new doctrine or inuention of mine as Misselden alleageth let vs enter into consideration of the following obseruations before our intended examination of the Center of Commerce in forraine Trade● It is neere 350. yeares since King Edward the first did erect the office of the Kings Royall Exchanger Ancient Office of Exchanges which did continue successiuely by 16 seuerall Letters Patents of the Kings of this Realme by meanes whereof the moneys were preserued within the same and the Commodities were orderly vented the Merchandising exchange was then vnknown King Edward the third did constitute diuers exchanges 9. E. 3. 7. in sundry places of the Realme and caused tables of exchanges to be set vp at Doner and elsewhere to answere the value of our moneys in the coyne to be paid for it beyond the Seas according to the very value with some allowance to be giuen to accomodate Merchants affaires and trauellers occasions The like was done by Richard the second 5. R. 2. 2. and this was the true Par pro Pari 2. H. 6. 6. then vsed and continued by Henry the sixt and Edward the fourth 4. E. 4. 16. but more especially by that wise and politike Prince 2. H. 6. 6. King Henry the seuenth 3. H. 7. 6. absolutely forbidding the making of exchanges and rechanges for forraine parts without the Kings especiall license had and obtained for the same to which end all the seuerall Acts of Parliament touching the directing and ordering of