to any of credit to inform against any that breaketh them though it be never so much to the prejudice of the whole Nation and if a needy person do it a small bribe in hand with a few fair promises of friendship will easily take him off the troublesome and chargeable prosecuting for his proportion due to him by the Law so broken And to avoid this charge and danger how many do purposely imploy their confidents who may peradventure be concerned in the same breach to make or enter an Information of the matter only and there cease resolving not to prosecute any further least he indanger his own or his friends safety and this may be done before hand only to prevent any that shall really attempt to inform of it afterwards Besides the practice suspected to be now used to imploy Dutch shipping as much as ever to bring home Spanish goods by colourably making bills of sale of them in trust to the Freighters to secure them against the Act for increase of Navigation But in a good government of trade these inconveniences may be prevented according as occasion requireth and restrain that too much freedom in trade by some desired which is the way to destroy all trade and bring in confusion For As Discipline in Arms so Government in Trade preserves good Orders and prevents confusion for which purpose Armies are divided into Regiments Troups and Companies Squadrons and Divisions and to keep them in better order they have By-laws distinct and apart from the standing Laws of the Countrey for which they serve So in Trade the Merchants of London trading in several parts of the World are divided into several Companies who respectively have By-laws and Orders among themselves for their better Government in which capacity they are best able to understand what quantities of Commodities are sent to the place where they trade and knowing how much will vent may accordingly supply the market at reasonable rates and modest profit with so much as is necessary That neither by sending too little of English Manufactures as by their scarcity to advance the price at too dear a rate thereby causing the buyers to learn and indeavour to make themselves of the same kind at a lower price or have them from another Countrey which may in the end hinder making them in England if not totally ruine the trade to that place Nor by sending more than can be uttered to clog the market as in former ages till prevented and so disparage and undervalue the English Manufactures to the Merchants loss by dishonourably offering them to sale in shops at an under rate as hath lately hapned in Holland with other inconveniences since some have taken too much liberty to interlope in the trade of the Merchant Adventurers Company And as their ancient continuance in a thriving condition commends their good Orders and Government so the ratifications and confirmations of their priviledges by several Princes and Authorities since their first institution not without much opposition declares the necessity of their incorporation for their better Government and venting English Draperies But as for forreign Commodities transported or such native Commodities as are no where else to be had of the same kind but from England the more is gained by them the more the Merchants are inriched in recompence of their painful labours and dangerous adventures and consequently the whole Nation for besides the danger of the Seas they many waies run great adventures by bad debts imbargoes c. giving more credit generally in goods to other Nations than they do to us In this the Dutch are a good example to us who have served almost all Europe with East-India Commodities to their great profit and advantage having much of them cheifly in their own hands as Nutts Cloves Mace and Cinamon bringing such quantities home as by their experience they guesse will yearly serve this Quarter of the World and feed the Market therewith as their ruling price And by their late practice at Bantam in seizing three English Ships there with their loading peaceably trading thither It may be suspected they intend to get all the Pepper also into their own hands if not the whole East-India Trade and then we may be weakened by so many Ships and Marriners as may be employed thither they well knowing how advantageous that trade may be to us being so prudently managed as now it is that thereby we may be able not only to serve our selves with those Commodities but other Nations also on as good tearms as themselves Moreover the orderly management of Trade by Companies will make an easier discovery yearly which exceeds the Import or Export which in a confused trade nor incorporated is not so soon discerned as in the Trade with Spain at this time by importing such great quantities of Fruits and Wines at a dear rate to the enriching of our Enemies and exporting so few English Manufactures and those sold at a low rate and which the Spaniards have prohibited since the Wars that instead of bringing Bullion thence for returnes from Cales and St. Lucar it is carryed thither as is suspected into his Dominions to pay for part of those Commodities at Malaga c. to the impoverishment of our selves For where the forreign goods imported exceed the native expotted the ballance must be made up with money transported or by exchange which is a loss to the Nation not only by the money so transported but by the want of vent of so much native Comodities as should be exported to answer the value of those imported which may be compared to a man having an Estate of 1000 l. per annum and spends yearly above it As the affairs of Princes do alter and change according to time and advantage so doth the course of trade and the better to inspect the course of trade some Princes in tender care thereof have an Officer residing in their Courts to give an accompt yearly thereof as hath been done formerly in England or so often as called theâ—eunto and as occasion requireth and also to hear complaints and move for redresse in the Merchants just grievances making it his businesse to intercede for them at convenient opportunities without making way by a favourite with a chargeable reward for where many men are interessed in one matter it is often times known to miscarry through neglect which makes good the saying that every mans business is no man's business Besides which if it be thought fitting that such a Council for trade of Merchants exercised therein with some Statesmen or Civillians conjoyned as in my foregoing proposals is described they may with Gods blessing on their endeavours regulate and restore trade by preparing and setling if impowered thereunto such fitting remedies for all grievances therein as may exceedingly enrich and advantage the whole Nation By setling and managing a Bank not only for the usefulnesse but rather necessity thereof as is before related and also to countermine the Dutch in their governing the price of Exchanges by the power of their Banks to the great prejudice of the English who with a Bank may rule it as well as they To hear and have power to determine controversies arising among Merchants in matters of trade To report their opinions whether it be needfull to raise the value of the English coins equal or above the rate of what they are in our Neighbour Countreys or contrive other waies to encourage the bringing of them in again and set the Mint to work To consult about strengthening the Laws against transporting Bullion English wool and Fullers earth the Law for increase of Navigation and all other Laws concerning trade and put them in effectual execution To strengthen the priviledges of the respective Companies of Merchants already established and if it be thought fit to incorporate the Merchants trading respectively into several Countries not yet incorporated To find out a way for better vent of raw silk and other Commodities imported which much imployes many people besides Silk-weavers whose Families are much impoverished for want of imployment by the importation of much riboning out of France since the Peace And many other for encouragement of Trade besides what is before mentioned which they may discover to be advantageous to the whole Nation and do deserve to be enlarged by a more skilful hand Printed at the Authors charge for the use and benefit of the English Nation and to be considered of and put in execution as the High Court of Parliament in their great wisdoms shall think meet January 27. 1657 ERRATA PAge â— l. 6. r. that p. 3. l. 14. r. it p. 7. l. 45. r. in trade p. 10. l. 46 r. unmercifully p. 12. l. 1 r. consigned p. 13. l. 21. r. caused l. 45. r. a publick
Seasonable Observations Humbly offered to his Highness the Lord PROTECTOR By Samuel Lambe of London Merchant IT hath been often asserted that if all people under one Government did seek the generall good every single person would then receive a particular benefit thereby And it is observed in Societies tha are in a joynt Trade and have By-Laws and Orders among themselves that if an Interloper privately trade among them in the same way not submitting himself to the By-Laws and Orders of that Company that he will receive to himself a greater profit for the present than any particular person of the same incorporated Society though if the undiscovered practise thereof should be continued and not prevented it would tend to the utter ruin and destruction of the said Society and Trade for the future Even so it is in a populous Common-Wealth where part of the people by unlawfull and destructive waies seek their sinister ends to the generall hurt and prejudice of the well govern'd people therein To avoid which evills in all good Governments necessary and wholsom Laws are contrived and established to preserve and protect the Property and Peace of each particular person and every one living under such protection is bound in duty to further the prosperity of his Countrey with all his utmost endeavours for no one is born to himself alone but also to do good to others and some way or other may be a profitable member to his Country according to the measure God hath given him to which end I have for the generall good observed these two chief waies that make a Nation rich and flourishing viz. By Armes and Conquest By Forreign Traffick and Merchandize To both which no people are more apt and prone than the English Nation In the former their actions both by Sea and Land have sufficiently manifested it to all the World both at home and abroad in former and latter ages to this very day in the latter our former Prosperity and Strength in Shipping have sufficiently shew'd our aptitude therein though then much hindred discouraged from our growing greatness by the avarice of some who minded their particular profits before the generall good which hath caused the strength of our Warlike Shipping in Trade to be much impaired and diminished though small notice is publickly taken of it which hath put me upon the Considerations following 1. The Usefullness and Necessity of increasing the Trading-Shipping of England 2. The State and condition our Trading-Shipping were in before the late Wars in England and the condition they are in at present 3. The State and condition of the Hollanders Shipping and Trade at present 4. The Reason of the Hollanders so great thriving in Trade in so short a time among others is shewed their use of Bankes 5. The benefit they have received by Bankes 6. The prejudice and hinderance we receive by their Banks 7. The good we may do our selves by the use of Bankes in England 8. The manner of a Banke described 9. Lastly the usefullness of a Court of Merchants All which I shall treat of in their Order First It hath alwaies been the generall received opinion grounded upon uncontradicted reason that the people of England need not fear any Forreign Invasion so long as they do maintain and encrease the Walls of their Land Viz. their Shipping and Marriners which is the chiefest Power and Strength of the Nation against a Forreign Enemy whose increase will not onely much strengthen and inrich the Maritime and Frontier Towns and Countreys bordering on the Sea Coast but also the whole Nation and will make us alwaies capable to ballance the affairs of another State in reference To War To Trade By the former we are now seasonably seeking reparations from the Spaniard for the many and cruell injuries and murthers committed by them upon the Person and Goods of the people of England in the West Indies and other places For which since no reasonable satisfaction could be tendered in a peaceable way do hope by Gods blessing will be obtayned by a just War And therefore it 's necessary upon this occasion as against all others for the English Nation to strengthen themselves what they can and to use all good endeavours thereunto For the latter in reference to Trade we may well suspect the studious industry of our Neighbours the Hollanders will soone over-ballance us if not timely prevented they at present making a great advantage to themselves to our great prejudice by the War between us and Spain whose King hath lately prohibited wearing the Manufacture of England of which kind the Hollanders will furnish them with of their own making and if they want work-folkes will easily entice over English wanting employment to worke for them and teach their people by which means much increasing their Trade and when they know themselves thereby to grow rich by increase of Trade and consequently strong by increase of Shipping and Marryners and another Nation poor by decrease of Trade and also weake by decay of Shipping and Marryners how forward will they then be to prescribe Laws to such a decayed Nation For it hath been long observed that as the Spaniard aymes to get the universall Monarchy of Christendom so the Hollander the universall Trade not only of Christendom but of all the known World from which they have been termed the Carryers of the World through their multitude of Shipping sending them out to all Nations that have any Trade by Sea and sometimes for Men of War and untill the late incouraging Act for increasing the Navigation of this Land The English Merchants themselves since the beginning of the late Wars in England usually freighted Holland Ships to fetch home their own Goods because they would go for less freight than the English Ships could having less charge by carrying fewer men than an English Ship of the same burden and less Provision which Ships were usually ensured in London and it is the Hollanders custome to this day that when they send any single Ship to the Southward for their own Accounts oftentimes ensure them in England and if they miscarry then the English make good their losses as too often it so falls out and if such Ship comes well home they save the premium in sayling such Shipping with less charges than the English do theirs of the same burthen and being so weakly mann'd if they at any time chance to meet a Turkes man of War they seldom fight with them as the English do and so oftentimes honourably acquit themselves but deliver up their Shipping without firing a Gun to save the Sea mans Liberty and what belongs unto them and so arme the Turkes against all Christendom but when they send unarm'd Fleets into any Countrey at the fit seasons of the year when Merchandize is to be had in such Countrey they are bound for then if there be danger they send a squadron of Men of War to convey them at the publick charge and these
are seldom ensured But if any English Ship of force go the same voyage such single Dutch Ship went seldom any insurance is made except she be missing or her safety doubted because they usually go safer being better provided of men and other necessaries for defence against the danger of Enemies and bad Weather and also before the said Act the Hollanders served us with the Commodityes of other Nations in their own Ships both in England and in our Western Plantations while our English Ships lay in harbour for want of employment till they were inserviceable and our Marryners took employment of the Hollanders to saile their Ships to get their lively hoods to the great loss and dishonour of the English Nation and since the said late Act how diligent the Hollanders have been notwithstanding the same that to their cost a whole Fleet of them together were surprized trading at the Barbadoes and forfeited according to the penalty of the said Act which shews how well they like Trading with us with forreign Goods in their own Ships that though they dared not bring any for England fearing the penalty of the said Act yet they would run so great an hazard to serve our Plantations peradventure intending to over-awe the penalty of Confiscation by continually having a greater power in Shipping there than we had that if a seizure had been attempted by the English there they might have over-powered them and made such an attempt of no effect not once dreaming that a Fleet of Men of War would stop there to seize them in their way to Sancta Domingo and Jamaica Now although the said Act hath breathed some refreshing to the decaying Trade of the English Nation yet it hath not altogether cured her of her disease as will be shewn hereafter besides the present abuse not look't into as ought to be in entring Strangers Ships in English mens names in the Custome house It hath been also observed how industrious the English Nation are and have been not only in contriving and building convenient and strong Ships for burthen swift sayling and of force but also in mannaging the same as well in single fights in Trade for defence against Pyrats and in Fleets in publick Wars with a forreign Enemy to their perpetuall honour and terrour of their Adversaries Witness the many single fights at Sea against the Turks to whom it is beleived the Dutch lose ten Ships for our one and the remarkable Sea-fights against the Hollanders themselves in the late Wars wherein many Merchants Ships from about 300. Tuns to about 500. Tuns did engage against the Enemy with the States Ships and Frigots to our great advantage which at that time would have been much wanted if they had not been built The Enemy notwithstanding much overnumbring us every fight in Ships and Tunnage and yet supplyed their loss of Ships daily taken and destroyed by us assisting their Men of War still with their Merchant Men of equall force and burthen and some bigger such as they usually send to the East Indies which foregoing passages shew the excellent use of English Shipping and the necessity of increasing them which cannot be done no way so well as by Trade for War is known to be chargeable hazardous and bloody therefore how ought Trade to be cherished maintained and increased with all power diligence and invention that can be contrived Secondly If we take into consideration the state and condition our Trading-Shipping were in before the late Wars in England we may find by the East India Companies account that they alone did employ in that trade at once 15000 Tunns of Shipping which were accounted to be of the best sort of Trading-Shipps belonging to England of the burthen of about 300 Tunns to about 600 Tunns But the old Company were at last so decayed in their shipping through the discouragement of Trade and undermining of the Dutch and other casualties that they had hardly one good Shipp remaining at their giving over So the last new Company thought it better to freight shipps for their employment which they alwayes did rather than build any But now if the new established Company will freight Ships also not build they will finde very few of force and burthen fitting for that employment For I cannot hear for about these ten years past that a Trading-ship of about 400 Tunns hath been built in England those few that have been built within that time seldom were so big as 200 Tuns but I believe ten for one of less burden which with other slight Ships that are usually ensured do supply that little Trade the Dutch have left the English Nation in the Straits which in former times used to employ by estimation not less than about 80. or 100 sale of good Ships of about 3. and 400. Tunns burthen each Ship and upwards but now the English Trade will not maintain and employ Ships of such burthen and defence which is the reason so many small ones have been taken by the Spaniards of St. Sebastians Majorca and other places And I have formerly known many Ships of the like burthen built and equipped in England purposely to send to Venice to let out to that State for Men of War to serve them against the Turks but the Hollanders soone eate us out of that employment also by serving them with Ships of equall burthen with ours for less freight than we could with our Ships which they might afford to do for the reasons hereafter declared And whereas the Company of Merchant Adventurers trading for Hamburgh used yearly to send about twenty good Ships thither chiefly laden with the Manufactures of England the Vent whereof gave great employment to many Tradesmen besides the poor but this year they have sent onely one Ship from London the last shipping and the Goods of that Ship will not go off neither and the Wooll that makes these Manufactures that usually sold for about 10 d. per pound is sold now as I heare for 6 d. or 7 d. which shews a great alteration and deadness of Trade which at this time is the generall and daily compliant of all Tradesmen of what profession soever the like might be instanced in our shipping-Trading for the East Countrey and other places where we send one now formerly we sent ten at least the continuance whereof will much decrease the strength of the English shipping and is an apparent signe of the generall decay of the forreign Trade of England which ought to be so well mannaged and incouraged without delay as that we should equall if not exceede all other our Neighbour Nations so if any one Nation grow greater in power than another so as the weaker become subject to the conditions of that one greater Nation either in State-affairs or government of Trade how ready then will other Nations be to endeavour to make their own termes or to be ready to make a prey of such a declined people and if the case were ours would
augmented the stock of the Nation Their true and faithfull making their Manufactures without deceipt as Cloth Sayes Serges Perpetuanaes c. and giving them their due contents makes them the more serviceable and their severall goodness by experience being known abroad causeth them to sell before those of the Manufacture of England that are mode slight and unservicable wanting their due contents and goodness which is not so well look't into as ought to be according to the good Laws provided in that behalf which not onely brings the English Commodityes into disgrace at market abroad but is a great prejudice to the Nation in generall by wanting Vent for them the makers striving daily to exceed each other in slight making as Cloth made of flocks mingled with Wooll c. that they may the sooner sell and afford them at the English Merchants low price to which he is tyed to buy being guided by the Dutch mans low rate he sells of the same kind at market contenting themselves and thriving with the less profit by selling much greater quantities abroad of severall sorts of Goods and having quicker returns and greater Stocks than the English and so the Dutch have the preheminence in the sale of their Manufactures before us by their true making to their very files and needles Their care and vigilancy over their traffick in taking off and laying on Impositions on sundry Commodities to quicken or dull them in their sale and price as they see occasion to incourage their own Manufactures or hinder those of a forreign Nation for the better imployment of their shipping and people besides each Merchants particular correspondence with their respective Factors or Servants in the Countreys where they Trade in which they are also very dextrous in communicating certain and early advice as well of the publick as of their own private occurrences Their giving countenance and incouragement to new desighes propounded to them for publick good which whets the invention and ocasions new discoveries and the bringing in of many profitable and delightfull Arts and Mysteries among them the Author never wanting his due reward which is made good to him out of the Publick Stock none feeling the charge thereof is also preferr'd to such employment as his genius and capacity leads him unto wherein he may be more profitable to himself and them preferring such for their merit and encouragement rather than others less deserving for favour or sinister ends But their chief and most considerable way by which they have brought themselves to what they are is their profitable use of Bankes Fifthly the benefit they have received by Banks are these By the help thereof they have raised themselves from Poor Distressed to High and mighty States They have encreased the Generall Stock of their Country so much that they can when they please ingrosse the particular Commodity of one Country and sell it again at their own price in the same or another that wants it They maintained Wars many years with the King of Spain and hired foreign Souldiers to save their own people in that War and received in ready money with which they payd their Armies the proceed of their Utensâ—is of War and other Commodities they fold their Enimies which they bought with imaginary money in Banks and so furnished the Spaniard with those things he wanted for their own profit which otherwise they knew another Nation would else have done They have encreased their Trade and thereby grown so rich and strong in Shipping and Mariners that they forced the King of Spain to a Peace with them To make their own terms with the King of Denmark To hold the King of France to such conditions as have not always pleased him To make War with the English at Sea to whom they there always yielded acknowledged obedience and submission To rule over many petty Kings and Principalities in the East Indies and other places where they have power to overcome them These are some of the benefits the Hollanders have received by encrease of Trade occasioned by Banks Sixthly the prejudice we receive by their Banks are these It brings down their Interest of money to 3 or 4 l. per cent at which rate I know at present many thousand pounds there let out in a parcel in ready money which the Dutch do often deliver by Exchange for London and there the same Takers at Interest out of the Banks may let it out again in England at 6 per cent formerly at 8 l. per cent and when the money is come into them again it may be more than suspected that it is privately sent into Holland both in Silver and Gold some profit arising thereby the latter being grown so dear and both far more scarce in England than formerly little being of late imported to Coyn for sundry reasons and so plentifull in Holland that great payments have been made there in Sterling money onely besides that concealed in their Bank which is a great hinderance to Trade in England by wanting so much stock as is so transported and doth also impoverish this Land Also by their Banks they may be furnished in England by Exchange with ready money to buy the Native Commodities of the Maker at the first hand and at the cheapest seasons of the year as Lead Tyn Cloath Bays Sayes Serges Perpetuanaes Stockings c. having as is suspected their English Packers at London to buy such Goods there for their Accompts and their Agents residing in the Countreys and Towns in England where such Manufactures are made and there buy them cheaper of the Maker himself for ready money by about 10 per cent than the English Merchants can do at London of such Makers Factors to whom else he sends them to sell for his Account the Maker thereby saving Factorage and other charges and Adventures and making bad debts in sending such Goods to sell at London besides uncertainty in selling them for time or ready money and other troubles and casualities in returning the money into the Countrey for which reasons the Maker had rather sell a better bargain by himself at home receiving his ready money there to serve his occasions than run the former uncertainties by which help of Banks having money there at a low rate the Dutch are enabled and do undersel the English Merchants at Market in their own Native Commodities to their great loss and discredit and it is doubted that many English Merchants also do colour such Goods for them at the Custom House having also understood that at this time English Wool and Fullers Earth is too often carried from hence into Holland in the English Men of War such ships being never visited by the Officers of the Custom house which ought suddenly to be prevented the Dutch being too well stored with those Commodities most of the Wool of this years growth in Kent being doubted already to be transported from or neer Dover Rochester c. which are the back doors out of
their conveniencie and ease to attain riches Also those that would be thought to be rich will for the same reasons and both to gaine support and increase their credit To the second it is hoped that his Highness the Lord Protector to further so good a Worke will be pleased to consent to a Law to be made as aforesaid that no supream Governour may seize molest or disturbe the Bank upon any occasion whatsoever under a great penalty That till a Bank be setled and take such effect as is hoped it may to remedye the evills before mentioned that a capable honest person be appointed by his Highness the Lord Protector to reside at London to take Account of the entryes of all Ships there and also to take care that no strangers Ships be entred as now dayly are contrary to the Act for increase of Navigation and that the said Officer do over-see and keep account of all the entryes of all ships in all other Ports throughout England And also prevent as much as may be transporting English wool and Fullers earth and entring Strangers Goods in English mens names which is a great prejudice to the English Nation and the said Officer to have such fitting Sallary allowed him by the Commissioners of the Custome house as shall be appointed or such other allowance to be paid by the Master of each Ship as formerly they did and do now desire to do without charge to the State according to a Table of Fees as was usually paid by them before Colonell Harvy was a Commissioner A POST-SCRIPT IT is objected that the East-India Company trading into the East-Indies is unprofitable to the English Nation because they send out of England so much money thither to drive that trade that it hath wasted the English coins and impoverished the Land It is answered that if the Dutch do not disturb the English in that trade it is probable they may be furnished from their Factory at Cormanteen on the gold coast in Guienne and from China with gold enough also from Japan with silver to carry on that trade as the Dutch themselves do and then there will be no occasion to send any out of England to the prejudice thereof But admit the said Company should have occasion yearly to transport forreign coins thither out of England they should but imitate the painful husband-man who sowes his seed in the ground that he may reap it again with advantage in the harvest when the earth liberally returns her grateful crop For admit they send out of England into East-India to the value of 1000 l. in silver gold or both which there they invest into the Commodities of that Countrey as Indicoe Spice Callicoes Salt-peter Drugs c. And when the said Commodities do arrive in England which cost the Company the said 1000 l. in probability they may yield here about 2000 l. clear of all charges which the said Company or other Merchants that buy that Commodity of them do send into Spain in time of Peace Italy or other Countries for England cannot spend all that they bring in and when the said Commodities are there sold peradventure the said 2000 l. worth may yield about 3000 l. ready money which from thence hath been usually brought into England for returns in specie so that instead of the 1000 l. transported about 3000 l. is imported and so proportionably for a greater or lesser summe to the great profit and advantage of England besides the imployment of so much war-like shipping as they send thither maintaining many trades belonging thereunto the increase of so many Marriners as they breed up and imploy in that shipping and the vending English Manufactures and return of others imploying many trades here and increase of the revenues and customs For It is presumed that that Nation which hath most warlike shipping and Marriners will command in chief at Sea and he that commands the Sea may command trade and he that hath the greatest trade will have the most money which is of such value that it doth command all worldly things both in War and Peace In the former besides the procuring all necessaries thereunto how many Garrisons hath it opened and relieved how many battails hath it helpt to win and what secrets hath it not discovered out of the inwardest counsels of great Princes In the latter as it doth maintain Commerce so the want of it doth decay it as sad experience doth manifest in England since there hath been so little left and so much transported as may appear by the great payments in Holland in half crowns and there and in France in 20. and 22 s. pieces that now at London 20 s. in gold will cost 22 s. in silver and that little silver that is remaining and passing in the Countreys so clipt and fil'd that most of it wants near a fift penny in weight And as money is the sinew of War so doth it appear to be the life of trade all Commodities being valued by it and in both as useful in the body Politick as blood in the veins of the body natural dispersing it self and giving life and motion to every part thereof so that the preservation and increase thereof doth speedily deserve the serious and grave consideration of the highest Authority in England for as the case now stands who will import any bullion into England to coin when they may have a better price for it in another Countrey and if any be imported who will sell it to the Mint while it is lawfull for the Gold-smiths or any other to give a better price for it than the Mint can and when the Gold-smiths have bought it do they not sell it again to Transporters or others to work into Manufactures as gold and silver spangles wyre c. which is no small consumption yearly in such trades so that little is Minted to increase the coins but on the contrary it is suspected to be dimininished by culling out the heaviest money to work into plate and the like Manufactures above mentioned By which it may appear that the East-India Company have not wasted but rather increased the English coins for they use none of it to transport in any Manufactures and if they had sent any so far off it would not have been had again so plentifully in the same kind in our Neighbour Countreys as now it is But it may be suspected that the common Transporters of Bullion out of England do raise this report to keep themselves from suspition while they secretly make it their trade to send it away till it be so near consumed through want of a fitting course to cause the bringing of it in and good Laws to prevent carrying it out and care in executing them for how easily may the intent of many of our Laws of light penalty be abused by any that is resolved to break them without they were made more severe especially in matters of so great concernment It being accounted a great scandal