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A51598 England's treasure by forraign trade, or, The ballance of our forraign trade is the rule of our treasure written by Thomas Mun ; and now published for the common good by his son John Mun. Mun, Thomas, 1571-1641.; Mun, John. 1664 (1664) Wing M3073; ESTC R25740 60,124 235

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ENGLAND's TREASURE BY Forraign Trade OR The Ballance of our Forraign Trade IS The Rule of our Treasure Written by THOMAS MUN of Lond. Merchant And now published for the Common good by his Son JOHN MUN of Bearsted in the County of Kent Esquire LONDON Printed by J. G. for Thomas Clark and are to be sold at his Shop at the South entrance of the Royal Exchange 1664. To the Right Honourable THOMAS EARL OF SOUTH-HAMPTON Lord High Treasurer of England Lord Warden of the New Forrest Knight of the most Noble Order of the Garter and one of His Majesty's most Honourable Privy Council MY LORD I Present this ensuing Treatise to your Lordship as its proper Patron to whom by vertue of your great Trust the greatest doubtless in this Kingdome the management of his Majesty's Treasure and improvement of his Revenue are most peculiarly committed The title of it Englands Treasure by Forraign Trade alone berpeaks your notice the Argument being of so publick a nature may invite your perusall but the Tract it self will I hope deserve your Lordships Protection It was left me in the nature of a Legacy by my Father for whose sake I cannot but value it as one of my best Moveables and as such I dedicate it to your Lordship He was in his time famous amongst Merchants and well known to most men of business for his general Experience in Affairs and notable Insight into Trade neither was he less observed for his Integrity to his Prince and Zeal to the Common-wealth the serious Discourses of such men are commonly not unprofitable To your Lordships judgement I submit this Treatise and my presumption herein to your Pardon My Lord Your most faithful and obedient Servant JOHN MUN White-Hall March 24. 1663 4. Let this Discourse of Trade be Printed HENRY BENNET THE ARGUMENTS CHAP. I. The knowledge and qualities which are required to be in a perfect Merchant of forraign trade pag. 2 CHAP. II. The general rule whereby this kingdom is enriched and our Treasure augmented pag. 11 CHAP. III. The particular ways and means to encrease the exportation of our commodities and to decrease our consumption f forraign wares pag. 15 CHAP IV. The Exportation of our Monies in Trade of Merchandize is a means to encrease our Treasure pag. 34 CHAP. V. Forraign Trade is the only means to improve the price of our Lands pag. 51 CHAP. VI. The Spanish treasure cannot be kept from other Kingdoms by any prohibition made in Spain pag. 56 CHAP. VII The Diversity of gain by forraign Trade pag. 64 CHAP. VIII The enhancing or debasing our moneys cannot enrich the Kingdom with treasure nor hinder the exportation thereof pag. 70 CHAP. IX Atollration for forraign Coins to pass current here at higher rates than their value with our Standard will not encrease our treasure pag. 79 CHAP. X. The observation of the Statute of Imployments to be made by Strangers cannot encrease nor yet preserve our treasure pag. 82 CHAP. XI It will not encrease our treasure to enjoyn the Merchant that exporteth Fish Corn or munition to return all or part of the value in mony pag. 90 CHAP. XII The undervaluation of our mony which is delivered or received by bills of Exchange here or beyond the Seas cannot decrease our trea●ure pag. 94 CHAP. XIII The Merchant who is a meer Exchanger of mony by bills cannot encrease or decrease our treasure pag. 105 CHAP. XIV The admirable feats supposed to be done by Bankers and the Merchants Exchange pag. 108 CHAP. XV. Of some Excesses and Evils in the Common-wealth which notwithstanding decay not our trade nor treasure pag. 142 CHAP. XVI How the Revenues and In-comes of Princes may justly be raised pag. 150 CHAP. XVII Whether it be necessary for great Princes to lay up store of treasure pag. 161 CHAP. XVIII How much treasure a Prince may conveniently lay up yearly pag. 167 CHAP. XIX Of some different effects which proceed from natural and artificial wealth pag. 175 CHAP. XX. The order and means whereby we may draw up the ballance of our forraign trade which is the rule of our treasure pag. 192 CHAP. XXI The conclusion upon all that hath been said concerning the Exportation or Importation of treasure pag. 217 ENGLAND'S TREASURE BY FORRAIGN TRADE OR The Ballance of our Forraign Trade is the Rule of our Treasure MY Son In a former Discourse I have endeavoured after my manner briefly to teach thee two things The first is Piety how to fear God aright according to his Works and Word The second is Policy how to love and serve thy Country by instructing thee in the duties and proceedings of sundry Vocations which either order or else act the affairs of the Common-wealth In which as some things doe especially tend to Preserve and others are more apt to Enlarge the same So am I now to speak of Money which doth indifferently serve to both those happy ends Wherein I will observe this order First to shew the general means whereby a Kingdome may be enriched and then proceed to those particular courses by which Princes are accustomed to be supplyed with Treasure But first of all I will say something of the Merchant because he must be a Principal Agent in this great business CHAP. I. The Qualities which are required in a perfect Merchant of Forraign Trade THe love and service of our Country consisteth not so much in the knowledge of those duties which are to be performed by others as in the skilful practice of that which is done by our selves and therefore my Son it is now fit that I say something of the Merchant which I hope in due time shall be thy Vocation Yet herein are my thoughts free from all Ambition although I rank thee in a place of so high estimation for the Merchant is worthily called The Steward of the Kingdoms Stock by way of Commerce with other Nations a work of no less Reputation than Trust which ought to be performed with great skill and conscience that so the private gain may ever accompany the publique good And because the nobleness of this Profession may the better stir up thy desires and endeavours to obtain those abilities which may effect it worthily I will briefly set down the excellent qualities which are required in a perfect Merchant 1. He ought to be a good Pen-man a good Arithmetician and a good Accomptant by that noble order of Debtor and Creditor which is used onely amongst Merchants also to be expert in the order and form of Charter-parties Bills of Lading Invoyces Contracts Bills of Exchange and Policies os Ensurance 2. He ought to know the Measures Weights and Monies of all forraign Countries especially where we have Trade the Monies not onely by their several denominations but also by their intrinsique values in weight fineness compared with the Standard of this Kingdome without which he cannot well direct his affaires 3. He ought to know the Customs Tolls Taxes
employments by Strangers stand in force or be repealed Let the meer Exchanger do his worst Let Princes oppress Lawyers extort Usurers bite Prodigals wast and lastly let Merchants carry out what mony they shall have occasion to use in traffique Yet all these actions can work no other effects in the course of trade than is declared in this discourse For so much Treasure only will be brought in or carried out of a Common-wealth as the Forraign Trade doth over or under ballance in value And this must come to pass by a Necessity beyond all resistance So that all other courses which tend not to this end howsoever they may seem to force mony into a Kingdom for a time yet are they in the end not only fruitless but also hurtful they are like to violent flouds which bear down their banks and suddenly remain dry again for want of waters Behold then the true form and worth of forraign Trade which is The great Revenue of the King The honour of the Kingdom The Noble profession of the Merchant The School of our Arts The supply of our wants The employment of our poor The improvement of our Lands The Nurcery of our Mariners The walls of the Kingdoms The means of our Treasure The Sinnews of our wars The terror of our Enemies For all which great and weighty reasons do so many well governed States highly countenance the profession and carefully cherish the action not only with Policy to encrease it but also with power to protect it from all forraign injuries because they know it is a Principal in Reason of State to maintain and defend that which doth Support them and their estates COURTEOUS READER these Books following are sold by Thomas Clark at the South-entrance of the Royal Exchange London COnsuetudo vel Lex mercatoria or the antient Law-merchant divided into three parts by Gerard Mulens Merchant The Merchants mirror or Directions for the perfect ordering or keeping of his Accompts by Richard Dafforn Accomptant An Introduction to Merchants Accompts by John Collins Accomptant Amphithalamie or the Accomptants Closet being an Abridgement of Merchants Accompts kept by Debitors and Creditors by Abraham Liset An Analysis or resolution of Merchants Accompts wherein the whole body of Merchants Accompts is anatomized by Ralph Handson Accomptant The Survey of London containing the originall increase modern estate and government of this famous City The Surgeons Mate or Military and Domestick Surgery by John Woodall Master in Chirurgery very useful for all especially for Chirurgeons A learned Commentary or Exposition upon the first Chapter of the second Epistle of Saint Paul to the Corinthians being the substance of many Sermons formerly preached at Grayes Inn London by that Reverend and Judicious Divine Richard Sibbs D. D. A Treatise of Justification by George Downame D. D. An Explanation of the General Epistle of S. Jude by Mr. Samuel Otes c. Colonel Monro his Expedition with the Scots Regiment c. A Commentary on the first and second Chapters of S. Paul to the Collossians by Mr. Paul Bayn B. D. The Doctrine of practical Prayer together with a learned Exposition on the Lords Prayer By the Right Reverend Father in God Geo Downame late Lord Bishop of Derry in Ireland The Dipper dipp'd or the Anabaptist duck'd and plung'd over head and ears by Daniel Featly Beams of Divine Light by Richard Sibbs D. D. Evangelical Sacrifice in 19 Sermons by Dr Sibbs Light from Heaven in four Treatises by Dr. Sibbs An Abridgement of D. Prestons Works by the Industry of William Jemmat M. A. and Preacher of Gods Word The Voyage and Travels of Sir Francis Drake into the Indies in 4o. Posthuma Fosteri the description of a Ruler in which is inscribed divers Scales and the Uses thereof with Propositions in Astronomy Navigation and Dialling with the declination of Horizontal Dials to which may be added Eliptical or Azimuthal Horologiography by Samuel Foster late Professor of Astronomy in Gresham-College London Popular Errours or the Errour of the People in matter of Physick by D Primrose Advice concerning Bills of Exchange an excellent piece by John Marius publick Notary Tables of Interest and Rebate for the purchase and discompt of Annuities more exactly calculated than heretofore by Roger Clavel Mathematician A manual of Millions or Accompts ready cast up by which may suddenly be known the true value of any Commodity at any price whatever and how to resolve many millions of questions either in Reduction or the Golden Rule without any use of Multiplication or Division by Richard Hodges a piece very useful for all degrees of men The Accademy of Eloquence containing a compleat English Rhetorick exemplified in common places and formally digested into an easie methodical way to speak and write fluently according to the mode of the present times wit● Letters both Amorous and Moral upon emergent occasions by T. B. of the Inner Temple Esq the third Edition A Latin Testament of a very fair Character in 12. necessary for all Scholars The Doctress a treatise of those Diseases most incident to Women by R. B. A Sermon preached at the funeral of the Right Hon. Tho. Earl of Elgin by Rich. Pearson D. D. The Faith of the Church of England by F. Taylor A Concordance in folio in 4. in 8. in 12. to bind with Bibles Conformity re-asserted in an Echo to R. S. or a return of his word to Dr. Wom●ck asserting the modification of publique worship by personal ability is not the formal act of the ministerial office 3. That the Minister of the Church of England ought to submit to the use of an imposed Liturgy by L. W. D. D. ☞ Take notice that all sorts of Bill of Lading whether in English French Spanish Italian or Dutch likewise Indentures for binding Apprentices to Planters in any of his Majesties Islands and also Indentures for the City and Countrey are printed for and sold by Thomas Clark at the South entrance of the Royal Exchange FINIS As it is very commendable to know what is to be done by others in their places So it were a great shame to be ignorant in the duties of our own Vocations There is more honor and profit in an Industrious life than in a great Inheritance which wasteth for want of vertue Forraign Trade is the rule of our Treasure The State in some occasions may gain most when private men by their revenues get least How some States have been made Rich. The traffick to the East Indies is our most profitable trade in its proportion both for King and Kingdom We get more by the Indian wares than the Indians themselves A distinction between the Kingdoms gain and the Merchants profit Money begets trade and trade encreaseth mony Remote trades are most gainful to the Commonwealth The Proverb saith He that hath ware hath mony by the year Our humane actions ought especially to be constdered in their ends How we must get Treasure to make it our own The policie and benefit of Spain by the trade to the East-Indies The effects of different wars concerning Treasure Mony is the measure of our other means A notable service for Spain All the ready mony in this Kingdom is esteemed at little more then one million of pounds Merchants do or ought to know the weight and fineness of forraign Coins The use of Forraign Trade is alike to all Nations How forraign Trade a destroyed Some restrictions hinder Trade Plenty of Mony makes the Exchange cheap and all other things dear What kinds of plenty or scarsity of mony make the Exchange high or low The undervaluing of our mony in Exchange is the Strangers loss and our gain 1 The Canker of Englands Commonwealth 2 Free trade 3 Lex Mercatoria 4 The Centre of trade ☞ The principal efficient cause of loss by Exchange Lex Mercatoria pag. 410. Maintenance of free trade p. 17. Exchange hinders not Princes of their customs The present estate of the common-wealth of Genoua How the Italians are enabled to furnish Spain with money in Flanders Maintenance of free trade p. 76 77 78 and 79. Some States cannot subsist but by the means of heavy taxes Princes who have no just cause to lay extraordinary and heavy taxes upon their Subjects The sinister ends which some great Princes have in laying heavy taxes upon their subjects Excess and bounty brings beggery which makes most men devise in their heads how to extort and get mony into their hands Forraign Trade must give proportion to a Princes treasure which is laid up yearly A Prince whose Subjects have but little forraign Trade cannot lay up much mony Munition for war ought to be kept in divers places of the State to prevent the loss of all by treachery in one place The fruits of Idleness which are Englands common reproches among Strangers The Netherlanders ingratitude The Hollanders improvement and industry Those Princes which do willingly support the Dutch would as resolutely resist the Spaniard Much Policy but little Honesty Part of the States Proclamation dated in the Hague 19. July 1624. Money and Fishing compared The Netherlanders Ploughs Men who speak by affection or tradition not from reason The Hollanders main supportance is Englands good Alliance Where force fails yet money prevails thus hopes the Hollanders How we must value our Exportatione and Impertations The Trade to the East Indies is not onely great in it self but it doth also make our other trades much greater than they were Two Contraries which are both prnicious