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A07552 The customers replie. Or Second apologie That is to say, an aunswer to a confused treatise of publicke commerce, printed and dispersed at Midlebourghe and London, in fauour of the priuate Society of Merchants-Aduenturers. By a more serious discourse of exchange in merchandise, and merchandising exchange. Written for vnderstanding readers onely, in fauour of all loyall merchants, and for the aduancing of traffick in England. Milles, Tho. (Thomas), 1550?-1627? 1604 (1604) STC 17932; ESTC S114604 32,899 48

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regard of Iustice but theyr Persons shall die like Men. Iustice is Distributiue or Commutatiue Commutatiue Iustice encludeth Traffick The end of Traffick is Equalitie in supplying Necessities vt quod vspiam nascitur Boni id apud omnes affluat eyther by bartring wares for wares or by some Midds or Meanes certaine and indifferent to preuent Aduantage The End therefore in Traffick beeing Equitie and the vse Exchange the Measure is by publicke Consent of all Nations called Money And as the Standart of all kind of Measures for generall Iustice like Vrim and Thummim is the Princes charge onely giuing thereby Weight and Content Length and Breadth to all Proportions So the coyning of Money and the valuation thereof being a Measure of principall Excellency and peculiar to Trafficke is immediatly Vni soli et semper an essentiall part of Soueraigne Authority Out of which Premisses this must be concluded That either to coyne Money or being coyned to alter the true Valuation thereof in what kind soeuer is in Subiectes whosoeuer when and wheresoeuer to presume vpon the Maiestie of Soueraigne Princes to prophane the Sacred Seate of Iustice to contemne publicke Authority and in Trafficke to preuent and peruert all order and Equity A Capitall sinne against God and Nature ¶ Thus much only being added by way of Preface by the Customers of the Out-Ports who for the Effectes sake are euery way bound to aduance the Cause That which followes of the Matter and vse of Trafficke is proper to Merchants Heare therfore a loyall Marchants experience writing in his owne Stile and Phrase of Exchange in Marchandise and Marchandising Exchange in Order as followeth Tractent Fabrilia Fabri CHAP. I. ¶ The Antiquitie necessity and vse of Lawfull Exchange and a Description thereof IT IS APPARANT TO SVCH AS are conversant in Records of tyme and olde Wryters that the exercise of Exchange is a thing of greatest antiquitie borne with Traffick it selfe and as it seemeth begate the first Names and Titles of those which are called in Latine Numularii Argentarii and Colybistae that is to say publique and common Exchangers and Commutors of Bullyon strange and forraine coynes to all maner of Strangers for the lawfull and currant money of those Countryes and Common-wealths where the said Exchange was proportioned and authorised by the Princes Gouernors of the same And because the Office of Exchanging and curtesie of lending money in a Common-wealth after an easie tollerable reckoning is very necessary and expedient The olde Ciuill Lawes did graunt and permit to this honest kind of Exchange a certaine rate in the hundred by the yeere for th' interest of such money as was lent to such as had neede And a certaine exercise and vse of the same was sometime allowed and admitted in England as when the Tables of Exchange were set vp erected in diuers Townes thereof in the time of King Edward the third and other Kings raignes succeeding him The Exchangers Keepers of which Tables did change to all manner of Forraine Marchants and Strangers which resorted thether aswell Bullion as all forraine coynes and Moneies which they brought thether for the currant Money of the Realme according to the Princes iust valuation thereof And this manner of Exchange seemeth also to be the first occasion of the erecting of those shops of Exchange which at this day bee called in Spaine and Italy Cambios and Bancos which at the first institution of them were appointed for great safegarde and commoditie of such as had Money for that they might without danger lay into the sayd Cambios and Banckes as it were in Deposito what sums of Money they would for the which the Cambiadors and Bankars would be answerable as for a thing deposited and committed to their custody and would also make payments thereof according to the order of the sayd Depositor Which farther did vse to change Siluer for Gold and all manner of forraine coyne and Money for the lawfull and currant Money of those Countryes and that according to the lawfull valuation of the same And moreouer by these Cambiadors or Bankars sometime there was wayes and meanes taken to make Exchange of Money from one Country to another for such as had occasion for to trauell and passe Countryes Likewise according to the iust and publique valuation of such coyne and Monies the reward and salary of Cambiadors for their labors and paines in keeping Money Exchanging white Money for Gold or forraine coynes for the lawfull and currant Money of Spaine within this thirty yeeres was not aboue two and a halfe in the thousand for the space of on Faire which commonly endureth there six weekes and this interest and gaines amounteth not aboue three in the hundred for the whole yeere This manner of Exchange is not onely to be suffered permitted in a Common-wealth but as it appeareth very necessary expedient and commodious to the same not onely for the exchanging of Bullyon and coynes within the selfe same Realme and Common-wealth but also for the passing of Money from one Country to another for such as haue affaires to trauell Countries as the Embassadors of Princes do wherby be diuers perrils auoyded that they should runne in carrying of ready Money about them So that the sayd Exchange be not practised of such as traffick Merchandise and will imploy theyr money so exchanged againe in wares and commodities to be returned into theyr owne Countrey For to all such the sayd Exchange was alwayes prohibited in England as a thing discommodious and pernicious both to the Prince and Common-wealth as may appeare by diuers Acts of Parliament prouided to that end EXCHANGE described ¶ Exchange therfore is a certaine lawfull kind of commutation and changing of Money appointed by the publick authority of a Common-wealth eyther for the changing of Bullyon strange and forraine coynes brought thither according to such valuation as the sayd Bullyon and coynes haue or be esteemed at by the common authority of the same Common-wealth and Country Or else it is a certaine meanes for the commutation and exchanging of Money from one Realme or Country to another according to the iust and lawfull valuation of Money priced set foorth by the publicke authority of such Countries and Realmes CHAP. II. How Merchants haue deuised and introduced another kind of Exchange BVT vnder the coullor and pretence of this lawfull Exchange and commutation of Money Merchants of late yeeres haue deuised and brought vp another manner of Exchange of coyne to the which they doe also commonly giue this plaine and simple name Exchanging vvhen indeed it is not so but a meere faeneration and a making a ware and merchandize of Money for that in the same and by the same they buy and sell rayse and abate the price of Money as well as they doe rayse and abate the price of any other vvare Merchandizes they traffick in Wherefore it is not to be called simply Exchange but
trade of Merchandize and buying and selling whereby they haue beene and might be profitable and commodious to there common Wealth and to followe this filthy vnlawfull and too farre exceeding gaine and lucar of practising wicked Vsurary chopping and changing of Money and all for the hope they conceiue thereby to obtaine and get both a more abundant and certaine gaines and that also with lesse labor charges perrill and aduenture CHAP. X. How by whom the practising of the Merchandising Exchange is the Cause of all excessiue prices in Commodities things vendible to the preuenting and peruerting of all lawfull Traffick and orderly Dealing within the Realme and Common-wealth of England THe necessity of conseruing an equallity in contracts of buying and selling and a fit meanes for the exportations and importations of things necessary and commodious for a Common Wealth hath caused all wise politick Rulers of Regions and Countries to iudge the vse of coyned Money signed with some publick figures notes and carrects to be the most conuenient thing that could be deuised In like manner hath it beene iudged and thought no lesse expedient and necessary by all such wise and experienced Men that the same coynes and Money should haue their indication valuation price and estimation onely by publick Rulers common authoritie of euery Common Wealth from the which no priuate Person Order or Societie in the same may or ought to swarue or vary nor alter vnder capitall paine Forsomuch as the sayd publick valuation is as it were the essentiall part whereby any kinde of matter substance or mettall is receiued and accepted for Money and for a lawful meane to buy sell withall in euery well ordered Common Wealth And whereas the valuation of this common and lawfull meane of price is not well knowen or not worthily accepted straightly duly obserued of all manner of Persons Societies and Orders there doth experience teach that thereof followeth confusion and disorder with excessiue and immoderate prices in the commutations of all things Vendible in the Common Wealth As for example when a Prince or Ruler of any Country doth decry and disalow any kinde of coyne and Money which he hath suffered before time to be currant at a certaine price and valuation throughout his Realme the same coyne immediatly as it is so decried leseth the estimation it had before and is of no value to buy any kinde of ware with amongst all the common people of the same Realme so that few or none will receiue the sayd Money for any manner of ware though one would offer it at much lower price then it was before currant for and if it chaunce any doe bargaine to take it they will raise and inhance the price of the wares they vtter much aboue the ordinary price thereof all because it lacketh their Princes and common valuation of their Country In like manner do the common people of all Countries esteeme forraine strange and vnknowne coynes brought vnto them not valued by the common authority of their Country how fine and pure soeuer the matter or mettall of them be onely as is sayd before for lacking the publick valuation of the Country Wherby it is apparant that the Princes and publick valuation of Money is of so great efficacy and authority in euery ciuill Common Wealth that not only it maketh it a meane to buy things withall but also it preserueth a moderation equallity and indifferency in the prices of all things so bought and sold betweene party and party Therefore is the sayd valuation solemly and as a man may say religiously to be kept and obserued of all manner of sorts of persons in a Common Wealth And the Alterars Changers of the same by their priuate authority are worthily to be reprehended and reproued how craftily and subtilly soeuer they doe it for the manifold inconueniences they thereby bring into their Country With a number of which the Common Wealth of England is sore troubled at this day through the frequent practising of Merchandising Exchange by the two Societies of Merchants Staplerers and Aduenturers of England betweene their owne Country and the Marting Townes of Flanders with slights crafts and subtilties continually thereby altering the price and valuation of their Princes coyne by the occasion whereof all manner of wares and commodities only sold in the Realme of England be brought and grow to such inordinate and excessiue prices as they beare at this Day for the proofe of the premisses this reason may be first made Afore this Merchandizing Exchange was practised by the English Merchants Staplers and Aduenturers betweene the Marting-Townes of Flaunders Brabant their owne Country in the trafficke of Merchandise to and fro no person complained vpon any manner of Merchandize or commoditie of the Realme nor of forraine Realmes brought into England did at any time grow or arise to inordinate or excessiue prices yet were the commodities of the Realme abundantly plentifully yea more liberally exported and transported into all forraine Countries then at this day But there were not in those dayes so many forraine wares brought in againe into the Realme as be at this day For from the raigne of the famous King Edward the third in whose dayes the trade of Merchandize began cheefely to be exercised in England vnto the end of Edward the fourth which is the space of aboue 150. yeeres Acts of Parliament were prouided thereby forcing all maner of men that occupied and fold the wares and commodities of the Realme to forraine Merchants to raise and keepe vp the prices of them and penalties layd vppon those which went about to diminish and bring downe the prices of them And in all this space of time not onely Wooll and Felles Staples wont to be alwayes in England and not beyond Seas were Staple wares at Callice and other Staple-townes in England and at length Broad-clothes transported into Flaunders and Brabant but all other manner of commodities of the Realme as Leather Lead Tinne Butter and Cheese Free transportation of home Commodities naturall for Traffick beneficiall for the Cōmon-Wealth were Staple-wares and freelie onely paying the Kings custome for them carryed exported out of the Realme into all forraine Realmes But sithence these two Societies of English Marting-Merchants practising the Merchandising Exchange haue made the exporting and transporting of the commodities and Merchandizes of the Realme to the Staple of Callice Marting-townes ☞ of Brabant a priuate trade to themselues the Princes of this Realme haue beene constrained to restraine and prohibite not onely the going out of certaine of the aforesaid commodities of the Realme but also haue beene compelled to studie and deuise meanes by Acts of Parliament to bring keep downe the prices as well of the commodities of the Realme as of all forraine Realmes Therfore it must needes be concluded that Merchandizing Exchange and the practising thereof is the occasion of this great inconveniencie and Mischiefe
raigning in the Common-wealth of England By the reason whereof all things be growne to excessiue prices Also since these two afore-saide Companies of English Merchants vsurped these Liberties and Priuiledges to themselues that the one of them should transport only Staple wares to the Staple of Callice and the other Broad-clothes Note Staple-Townes beeing called Mart-Townes began the decay of Trades Townes in England with such other Commodities vnto the Marting-Townes of Brabant the most part of all the good Townes of the Realme of England haue decayed and come to ruine which partly hath come to passe by the reason that many kinde of Artificers vvhich were wont to inhabite the said Townes maintaine and make th̄e prosperous by such artificialls as they made there by the meanes of these two fraternities of Marting-Merchants be vtterly destroyed consumed for that they were notable at length to liue by their arts and labours these fore-said Merchants deuising and causing the like Artificials as the said Artificers made in England to be made in forraine Countries and were by them brought and transported into England and sold better cheape some-what lower priced then those of English making might be aforded Thorough which occasion the English Artificers in continuance were worne out because none were brought vp vnder other to follow their said Art workmanship that they exercised forsomuch as they perceiued that they should not be able to liue by such kind of labour in time to come because the forraine workmanship was more regarded and sooner bought then theirs Partly also they haue beene the destruction decay and ruine of the said Townes by taking away the trade of the Staple from the said Townes for the vtterance of the commodities of the Realme which for the most part of all the time Staple Townes alwaies within England made the Realme full of Trafficke from Edward the third to the end of Edward the fourth were kept in good Townes of England or at least shipped from them when the Staple was kept at Callice by the occasion whereof there was so great resort of people vnto the said Townes that thereby they were enriched and daily prospered and flourished Wheresince for lacke of like resort and trafficke and the destruction of the foresaid Artificers they be altogethers ruinous and decayed and neuer like to be restored so long as these Merchants enioy theyr vsurped liberties Moreouer since these two Societies of English Merchants vsurped vnto them the priuate exportations of the commodities of the Realme The hindrance of bringing in of Bullyon the liberall vsuall and daily bringing in of Bullyon into the Realme by forraine Merchants out of all forraine Realmes to buy the commodities of England hath decayed and ceased and seuere and great punishments and penalties be prouided by the Princes of such forraine Realmes against all them which shall attempt the conueying of any such things out of theyr Realmes into England Where in times passed they most gladly suffered and concented vnto it for that it was openly knowne to all Princes and Rulers of Common-wealths in Christendome that what kinde of Merchant soeuer Staples euer kept within England resorted into England to the Staple-Townes for the and carrying away of the commodities Merchandises thereof were bound by the Acts and orders of the Realme to pay for them at the said Staples in ready gold and filuer afore their departure from thence as may appeare by diuers Acts made in diuers Kings dayes from Edward the third vnto the end of Edward the fourth and therefore at that time were all Princes well contented to suffer their Merchants to carry their coynes and Bullyon into England Which manner of Traffick continued betweene England and all other Realmes till that these Merchants became to be a priuate Society and so vvithin a while after compounded agreed with the Merchants of Holland Zeland Brabant Flanders and other Countries there-abouts which were the buyers of the Staple-wares to receiue their Money for such Staple-wares as the sayd Staplers sold them at Callice in Flemish Money at the Marting Townes of their owne Countries rating setting and valuing the English pound at a certaine stinted price of Flemish Money for euer thereafter to bee payed vnto them after the said price which was a drift driuen of the sayd Staplers of England to bring to passe this Exchanging Traffick to the intent they might make the returne of their Money from thence into England by Merchandising Exchange whereby they made a reckoning much more to their priuate gaines and lucar then to be payed in ready Money at the Staples of Callice or any place of England according to the olde custome although that manner of payment was much more beneficiall and commodious for the common Wealth of the whole Realme which they passed not vppon neither yet doe so they may gaine and get Money And thus the faire Lady Merchandising Exchange enticed and allured the Merchants Aduenturers of England Staples called Mart Townes a deceptio Visus to turne all Traffick beyond Seas to the ruine of England to procure themselues in fraternitie and to seeke meanes to plant their Marting Townes in a forraine Realme and Country for the vtterance of the commodities of the Realme because they might make their returne and imployments from thence into Englang by the reckoning of Money currant in the sayd Merchandising Exchange And by this meanes ceased and ended the franck and free bringing in of Money Bullion into England by forraine and strange Merchants after the English Merchants had nusseled themselues in the Marting Townes beyonde the Sea so that now a dayes no Money or Bullion is brought into England by Merchants but secretly and as it were by stealth and for the respect of priuate gaines and profite which they finde thereby after the reckoning they make thereof by currantnes of Money in their Merchandising Exchange Item when it pleased that famous Prince Henry the eight King Henry the eight vpon good considerations and purposes and for the great benefite of his people and common Wealth to augment and increase the valuation and price of his coyne and Money throughout all his Realme within a little processe and countinuance of time after it chanced by the malice and wickednes of men such a quantity of currupt and drossy coyne of Money to bee brought into the Realme out of forraine Countryes by the Ministery of Merchants as it hath beene supposed thought and gathered by certaine cercumstances which Money being currant as well as the true and lawfull Money amongst all manner of persons within the Realme by the reason of the likenes of the fashion and forme that it had with the true and lawfull Money caused many inconueniences to rise therby at length to the whole Common Wealth for such a meruailous desire and hastynes entred into all kinde of Occupiers by the lothsomnes and hatred they conceiued of the sayd Drosse coyne to bestow it