profitable 6. We have people enough and more then we can employ 7. To suffer Artificers to have as many Apprentices as they will is to destroy Trade 8. The admission of Strangers is to call in others to eat the Bread out of our own Mouthes 9. No man ought to Live and Trade in a Corporation that is not a Free-man of the place 10. Nor should any be Free-men that are not the sons of Free-men or have served seven years Apprentiship 11. It s better we Trade but for a hundred pound at 20 per cent profit then for three hundred at 10 per cent profit and so pro rata 12. Our Plantations depopulate and consequently impoverish England with abundance more that might be named but that many of them are occasionally hinted and I hope them and others confuted in the following Discourse By what hath been said and what follows as well as by what most Men observe It is evident that this Kingdom is wonderfully fitted by the bounty of God Almighty for a great Progression in Wealth and Power and that the only means to arrive at both or either of them is to improve and advance Trade and that the way to those Improvements is not hedged up with thorns nor hidden from us in the dark or intrigued with difficulties but very natural and facile if we would set about them and begin the right way casting off some of our old mistaken Principles in Trade which we inherit from our Ancestors who were Souldiers Hunts-men and Herds-men and therefore necessarily unskilful in the Mysteries of and Methods to improve Trade though their natural Parts were nothing inferiour to ours Trade being but a novel thing in England comparatively to other parts of the World and in my opinion not yet advanced to the one fifth part of improvement that this Land is capable of and I think no true English-man will deny that the season â—ries aloud to us to be up and doing before our Fields become unoccupied and before the Dutch get too much the whip-hand of us whom in such a case were they freed from their French fears which they labour under at present I fear we should find as severe task-Masters as ever the Athenians were to the lesser Trading Cities of Greece Neither are the Dutch the only Neighbours we have at this time for corrivals in Trade but the French King and King of Sweeden are now as active circumspect industrious and prospective too in this Affair and have and are ordering things as prudently for promoting thereof as the Dutch themselves When I began to Write this Treatise I intended not to enlarge upon so many particulars and the rather because nothing can be said for publick good but will cross the particular ends as well as the opinions of many private persons and still the more is said the more are disobliged but my Duty to my Country overcoming those doubtful Considerations I have adventured this second time to expose my Conceptions to publick censure with this confidence that after these Principles have suffered the accustomary Persecution of Tongues and Pens naturally and constantly accompanying all new Proposals for a while they will at length the most if not all of them or something very like them come to be generally received and honoured with the publick Sanction by being passed into Laws gradually not at once concerning the time whereof I am not careful but for my Countries sake I could wish it might be shortened THE CONTENTS First A Discourse Concerning Trade c. Chap. I. A short Reply to a Treatise entituled Interest of Money Mistaken p. 1. Chap. II. Concerning the Relief and Employment of the Poor p. 55. Chap. III. Concerning Companies of Merchants p. 80. Chap. IV. Concerning the Act of Navigation p. 90. Chap. V. Concerning Transferrance of Debts p. 106. Chap. VI. Concerning a Court-Merchant p. 112. Chap. VII Concerning Naturalization p. 122. Chap. VIII Concerning Wool and Wollen Manufactures p. 127. Chap. IX Concerning the Ballance of Trade p. 135. Chap. X. Concerning Plantations p. 164. A small Treatise against Vsury p. 205. A DISCOURSE Concerning Trade c. THE Prodigious increase of the Netherlanders in their Domestick and Foreign Trade Riches and multitude of Shipping is the Envy of the present and may be the wonder of all future Generations And yet the means whereby they have thus advanced themselves are sufficiently obvious and in a great measure imitable by most other Nations but more easily by us of this Kingdom of England which I shall endeavour to demonstrate in the following Discourse Some of the said means by which they have advanced their Trade and thereby improved their Estates are these following First They have in their greatest Councils of State and War Trading-Merchants that have lived abroad in most parts of the World who have not only the Theoretical Knowledge but the practical Experience of Trade by whom Laws and Orders are contrived and Peaces with foreign Princes projected to the great Advantage of their Trade Secondly Their Law of Gavel-kind whereby all their Children possess an equal share of their Fathers Estates after their decease and so are not left to wrastle with the World in their youth with inconsiderable assistance of Fortune as most of our youngest Sons of Gentlemen in England are who are bound Apprentices to Merchants Thirdly Their exact making of all their Native Commodities and packing of their Herrings Codfish and all other Commodities which they send abroad in great quantities the consequence whereof is That the repute of their said Commodities abroad continues always good and the Buyers will accept of them by the Marks without opening whereas the Fish which our English make in New-found-Land and New-England and Herrings at Yarmouth often prove false and deceitfully made and our Pilchards from the West-Country false packed seldom containing the quantity for which the Hogsheads are marked in which they are packed And in England the attempts which our Fore-fathers made for Regulating of Manufactures when left to the Execution of some particular person in a short time resolved but into a Tax upon the Commodity without respect to the goodness thereof as most notoriously appears in the business of the AULNAGE which doubtless our Predecessors intended for a scrutiny into the goodness of the Commodity and to that purpose a Seal was invented as a signal that the Commodity was made according to the Statutes which Seals it is said may now be bought by Thousands and put upon what the Buyers please Fourthly Their giving great incouragement and immunities to the Inventors of New Manufactures and the Discoverers of any New Mysteries in Trade and to those that shall bring the Commodities of other Nations first in use and practice amongst them for which the Author never goes without his due Reward allowed him at the Publick Charge Fifthly Their Contriving and Building of great Ships to sail with small charge not above one third of what we are at for Ships
LICENSED November the 18th 1689. And Entered according to Order A DISCOURSE ABOUT TRADE Wherein the Reduction of Interest of Money to 4 l. per Centum is Recommended Methods for the Employment and Maintenance of the Poor are proposed Several weighty Points relating to Companies of MERCHANTS The Act of NAVIGATION NATURALIZATION of Strangers Our WOOLLEN MANUFACTURES The BALLANCE of TRADE And the Nature of Plantations and their Consequences in relation to the Kingdom are seriously Discussed And some Arguments for erecting a Court of Merchants for determining Controversies relating to Maritime Affairs and for a Law for Transferrance of Bills of Debts are humbly Offered Never before Printed Printed by A Sowle at the Crooked-Billet in Holloway-Lane And Sold at the Three Keys in Nags-head-Court Grace-Church-Street 1690. THE PUBLISHER TO THE READER THE following Sheets were wrote as the Reader will observe by the Contents soon after the dreadful Fire which happened in London in the Year 1666. they fell very accidentally into my Hands in Manuscript as they had ever since continued this last Summer and having in my Conversation in the world heard several of the Propositions therein discussed frequently contrasted I did set my self with some Curiosity to run them over and in doing it discerned as I thought much experimental Truth and Reason and a more then ordinary Life and Spirit for the Publick good in the whole Work I therefore made suite to the Judicious Worthy Author to permit me to the same end for which it appears to have been at the first wrote to hand it over to some of our best Patriots to which he being pleased to concede I began to transcribe it but finding that that would prove a tedious task and that that way would confine this excellent Treatise to too narrow bounds I have presumed thus to emit it to the World I may not divulge the Author's Name but this I may truely say He is no Trader neither pays any Use for Money but receives a great deal yearly and hath to my knowledge a considerable Estate in Lands and therefore the most invidious cannot conceive he had any private or selfish end in the following Discourses I have in my time been privy to and frequently concerned in the buying and selling of much Land and I find every thing he said at that time so true of the then low Rates of Land as was his Prediction of its rising in Purchase so soon as that lazy way of Usury by Bankeering should be broke that I am morally confident if the Parliament should be pleased to abate the Interest of Mony by a Law to 4 l. per Cent. We shall as certainly see Lands in England as generally sell at twenty five years Purchase within five years after such a Law as We did see them about the time the following Discourse was Wrote sell at seventeen years Purchase and as We do now see Lands currently sell at twenty years Purchase and upwards I took occasion in my discourse with the Author to observe to him that though Lands in general were risen in sale as he fore-saw to twenty years purchase or more that yet Marsh and Feeding Grounds were abated in Rent to the Tenants at least 20 or 30 l. per Cent. He granted me to be in the right herein and imputed the cause thereof partly to the Prohibition of Irish Cattle and partly to the late general practice of sowing Clover Saint-foyne Rye-Grass and other Grass-Seeds upon which I ask'd him Whether he thought it would not tend to the publick Good to prohibit by a Law the sowing of those Seeds He said by no means Honest Industry and Invention is never to be obstructed by Laws I queried then why Usury should be checkt by a Law He replyed that in the Trade of Vsury there was neither Industry not Invention but Idleness and Oppression and that all Christian Churches as well as most particular eminent Divines ever since our Saviour Christ's time had condemned Vsury as sinful The fore-going Discourse leads to another great Question Whether Foreign Commodities such as tend to nourish Vice and Luxury ought not for the publick Good to be prohibited by a Law or by loading them with a deep Custom such as VVines Brandy Sugar Tobacco c. And I am humbly of opinion with the most profound submission to all my Superiours whose proper Business it is to agree and constitute Laws that it is not for the publick Good to load even such Commodities with so great a Duty as doth or may ruin our Plantations or totally prevent the English from a possibility of supplying the Eastern and other parts of the World with these Commodities because by so doing We give away the most precious of all our Trades a great part of our Navigation to our wiser Neighbours the Dutch who had rather pay their Twentieth Penny twice a year than loose their Trade to the Baltick with Salt Wine Brandy Tobacco c. I might say too with Chesnuts and VValnuts as inconsiderable as their value is Every thing being to be prized above Gold that encreaseth the Navigation of any Country especially that of this Island of England I have been always an Advocate for Liberty and an Enemy to Persecution for matters of Religion and so I am confident was the Gentleman our worthy Author as the following Tract clearly evinces and by so doing gives the Reason why this admirable Work hath till now lain in obscurity the Policy and Councils of the late Reigns constantly discountenancing that excellent Principle And because Liberty of Conscience is frequently touch'd in this ensuing Discourse and declared to be a principal means to advance the publick Good of this Kingdom viz. Trade Which 't is evident is the real and only design of this Treatise I shall take the freedom to tell my thoughts very plainly in relation to it I remember that greatest Master of Historians Cornelius Tacitus says of the incomparable Roman Emperour Nerva that he did Reconcile Res olim insociabiles things never before adjusted the freedom of all Men with the sole Command of one Such a Prince I hope and verily believe God Almighty in abundant Mercy to this poor Nation hath sent us in his present Majesty our truly good and gracious Soveraign King William the Favourite of Heaven and Delight of Men under whom We may most undoubtedly be the Happiest People upon the Face of the whole Earth if We will but We shall never attain that Happiness and hand it over to Posterity except We all as well Dissenters as Church of England Men do sincerely and cordially endeavour to imitate the Wisdom and Goodness of that Memorable Prince Nerva to reconcile things formerly unsociable viz. Liberty of Conscience to all with the preservation of one entire Vniform National Church in the enjoyment of all the publick Revenues thereof these two things in my most unbiass'd retired thoughts are so far from contradictions that as our People in England are
now and have been for two or three Ages past divided in Opinions they are necessary Relatives one to the other and neither of them can stand long alone without the other Time in innumerable instances having proved it a most manifest Error in our Kings Lords and Gentlemen that they attempted by Laws to compel all the People of England to a Conformity to the National Church And no less Error was it in the Dissenters and their Adherents in the late Civil VVars to think to enjoy long the Fruits of their Fighting and Conquests by keeping all Forms of Religion loose and equally capable of preferment to the publick Revenues without Establishing any National Church the publick Revenue whereof none should be capable of enjoying but such as were of it Many of the Dissenters are so ingenuous as to confess this to be a very great Truth and that England cannot long enjoy a lasting Peace and Quietness without it But then they say Open your Church-Doors wide remove all stumbling Blocks such things as give offence to pious and learned Men in your Articles Canons and Liturgy and probably I may herein incline to be of their Opinion But yet I tell them I am a Subject and have now by Law a liberty to worship God as I think he ought to be worshipped and enjoying that 't is my Duty in Reason as a Man and in Religion as a Christian to acquiesce without murmuring that the King Lords and Commons who are the natural and proper Legislators of England should enjoy the Liberty of their Consciences to contrive or settle such a National Church as they shall think fit and in their Judgments most agreeable to the Scriptures and the publick Peace of the Kingdom and methinks he that is not satisfied with this doth apparently violate that righteous Rule of our Saviour of doing as he would be done unto 2 dly Such dissatisfaction at what our lawful Superiors do in this matter of Religion while we enjoy our own Liberty may be deemed and will by many be said to proceed rather from Faction Covetousness or Ambition than from pure Religion But some Dissenters are ready to reply Why should we be kept out of the publick Employments of our Country Are not we as good Protestants as great lovers of our Country as virtuous in our Lives as diligent and inoffensive in our Callings and as true to the present Government as any Church of England Men whatsoever I say admit all that and I cannot upon this occasion forbear to say what I have often declared That I do believe that the Protestant Dissenters are to a Man throughout England true to that Government which the divine Providâ—nce hath most mercifully miraculously set over us yet you being private Subjects and having the liberty of your own Consciences you are not to disturb the present Government settled by your lawful Legislators but must allow them your Governours the liberty of their Consciences in settling the National Church or you are unjust in the sight of God and Men When you are called to the Parliament then you will have the freedom of declaring your Opinions as you think fit 2dly I tell them great Mutations upon a sudden in the Fundamentals of Government such as changes in the National Church are dangerous to the publick Peace and that our Superiors being placed upon the advantage of a better prospect can see the danger in a better light and at a more remote distance then we who converse only in the Valleys 3dly That many Gentlemen who bear no unkindness to the Dissenters are yet affraid of their fickle uncertain tempers not having forgot that after our late Civil Wars when the Power was mainly in their own Hands they themselves made several Governments yet were never long contented with any of their own Creation 4thly That they are not yet agreed among themselves what the Errors or Stumbling-blocks in the Church of England are that they would have amended or removed 5thly I tell them that this repining temper at the determinations of Superiors in them who are at perfect ease themselves as to their Liberties and Properties looks very like the Spirit of Persecution against which they have always appeared to contend Lastly To conclude this subject for the love I bear to all my honest Country-men as well of the one perswasion as the other I pray the Church of England Men to be indulgent to the Dissenters and I entreat my old Friends the Dissenters to put on Patience and not to censure or repine at the Acts of their Superiors but to hope and expect that God who hath wrought this late most signal deliverance for them and the Nation in general and who hath secured to them by Law the Liberty of their Consciences which they could never obtain by all their Fightings Strivings Victories and Conquests will in his due time give them such favour in the Eyes of the King and Parliament that they may be admitted by degrees into such publick Trusts and Employments wherein they may not be judged dangerous to the National Church or State THE PREFACE THe following Answer to that Treatise entituled Interest of Money mistaken I wrote long before the last Session of Parliament that began the 19th of October 1669. but fore-seeing that that Session might be engaged in greater Debates of another Nature and in consequence not have leisure to consider this subject I deferred the Printing of it since which I have seen another Treatise wrote by Thomas Manly Gentleman endeavouring to prove That it will be for the advantage of this Kingdom to continue the Interst of Money at 6 per Cent but after several perusals of his Treatise I must needs say that either I understand nothing of this subject or else this Gentleman is the greatest Stranger to it that ever undertook to discourse it he having writ much but in my Opinion nothing to the purpose more than was much better though brieflier said by the Author of the fore-mentioned Treatise out of which most of his seems to be borrowed though the Words be varied with some additions of Interrogations Expostulations Similes and Circumlocutions Besides the Gentleman taking up things at random and for want of a due understanding of the matter is very unfortunate in his Instances of Fact viz. In his Preface about the middle his Words are Has Abatement of Vsury or some other sublime Policy obliged the French of late to set upon Trade and Manufactures And then he affirms that I dare not touch on that String in regard that Nation hath not for many Years altered Interest from 7 per Cent. To his Interrogation I answer possitively that the Abatement of Usury hath done it and if you will not believe me read the French Edicts themselves and they will tell you so an Abstract of one whereof I have recited in the following Treatise To his Affirmation that I dare not touch upon this String I say I dare do it
offended with me I dare undertake that this will never spoil but mend their Marriages besides the greater good it will bring to their Country and to their Posterities after them whether they prove to be Noblemen Gentlemen or Merchants c. I have in several places of my ensuing Treatise referred to some Tracts I formerly published upon this subject which being now wholly out of Print I thought fit to Re-print and annex unto this which at first I intended not Some there are who would grant that abatement of Interest if it could be effected would procure to the Nation all the good that I alledge it will bring with it but say it is not practicable or at least not now 1. A needless scruple and contradictory to experience for first a Law hath abated Interest in England three times within these few Years already and what should hinder its effect now more then formerly 2. If a Law will not do it why do the Vsurers raise such a dust and engage so many Friends to oppose the passing of an Act to this purpose The true reason is because they are wise enough to know that a Law will certainly do it as it hath done already though they would perswade others the contrary And if it be doubted we have not Money enough in England Besides what I have said in my former Treatise as to the encrease of our Riches in general I shall here give some further Reasons of probability which are the best that can be expected in this case to prove that we have now much more Money in England then we had twenty Years past Notwithstanding the seeming scarcity at present if I should look further back then twenty years the argument would be stronger on my side and the proportion of the encrease of Money greater and more perspicuous but I shall confine my self to that time which is within most mens Memories 1. We give generally now one third more Money with Apprentices then we did twenty years past 2. Notwithstanding the decay and loss of sundry Trades and Manufactures yet in the gross we Ship off now one third part more of the Manufactures as also Lead and Tin then we did twenty years past which is a cause as well as a proof of our increase of Money If any doubt this if they please to consult Mr Diâ—kins Surveyor of his Majesties Customs who is the best able I know living and hath taken the most pains in these Calculations he may be satisfactorily resolved 3. Houses new built in London yield twice the Rent they did before the Fire and Houses generally immediately before the Fire yielded about one fourth part more Rent then they did twenty years past 4. The speedy and costly buildings of London is a convincing and to Strangers an amazing Argument of the plenty and late encrease of Money in England 5. We have now more then double the quantity of Merchants Shiping we had twenty years past 6. The course of our Trade from the increase of our Money is strangely altered within these twenty years most Payments from Merchants and Shop-keepers being now made with ready Money whereas formerly the course of our general Trade run at three six nine twelve and eighteen Months time But if this case be so clear some may ask me How comes it to pass that all sorts of men complain so much of the scarcity of Money especially in the Country My answers to this Query are viz. 1. This proceeds from the Frailty and Corruption of humane Nature it being natural for men to complain of the present and commend the times past so said they of Old The former days were better then these and I can say in truth upon my own Memory that men did complain as much of the scarcity of Money ever since I knew the world as they do now nay the very same Persons that now complain of this and commend that time 2. And more particularly This complaint proceeds from many mens finding themselves uneasie in the matters of their Religion it being natural for men when they are discontented at one thing to complain of all and principally to utter their discontents and complaints in those things which are most popular Those that hate a man for some one cause will seldom allow of any thing that is good in him and some that are angry with one person or thing will find fault with others that gave them no offence like peevish Persons that meeting discontent abroad coming home quarrel with their Wifes Children Servants c. 3. And more especially this complaint in the Country proceeds from the late practice of bringing up the Tax-Money in Wagons to London which did doubtless cause a scarcity of Money in the Country 4. And principally this seeming scarcity of Money proceeds from the Trade of Bankering which obstructs circulation advanceth Usury and renders it so easie that most Men as soon as they can make up a Sum of 50 l. or a 100 l. send it into the Gold-Smith Which doth and will occasion while it lasts that fatal pressing necessity for Money so visible throughout the whole Kingdom both to Prince and People From what hath been last said it appears the matter in England is prepared for the abatement of Interest which as Sr Henry Blunt an honourable Member of his Majesties Council of Trade well said before the Lords at the debate is the Unum Magnum towards the prosperity of this Kingdom It is a generative good and will bring many other good things with it I shall conclude with two or three Requests to the Reader 1. That he would Read and consider what he Reads with an entire Love to his Country void of private interests and former ill grounded impressions received into his mind to the prejudice of this principle 2. That he would Read all minding the matter not the stile before he make a judgment 3. That in all his meditations upon these Principles he would warily distinguish between the Profit of the Merchant and the Gain of the Kingdom which are so far from being always parallels that frequently they run counter one to the other although most Men by their Education and Business having fixed their eye and aim wholly upon the former do usually confound these two in their Thoughts and Discourses of Trade or else mistake the former for the latter from which false measures have proceeded many vulgar errors in Trade some whereof by reason of Mens frequent mistakings as afore-said are become almost Proverbial and often heard out of the Mouths not only of the common People but of Men that might know better if they would duly consider the afore-said distinction Some of the said common Proverbial errors are viz. 1. Vulgar Error We have too many Merchants already 2. The Stock of England is too big for the Trade of England 3. No Man should exercise two Callings 4. Especially no Shop-keeper ought to be a Merchant 5. Luxury and some Excess may be
of the same Burthen in England and compelling their said Ships being of small Force to sail always in Fleets to which in all time of danger they allow Convoy Sixthly Their parcimonious and â—hrifty Living which is so extraordinary that a Merchant of One hundred thousand Pound Estate with them will scarce spend so much per annum as one of Fifteen hundred Pounds Estate in London Seventhly The Education of their Children as well Daughters as Sons all which be they of never so great Quality or Estate they always take care to bring up to write perfect good Hands and to have the full knowledge and use of Arithemetick and Merchants-Accounts the well understanding and practice whereof doth strangely infuse into most that are the owners of that Quality of either Sex not only an Ability for Commerce of all kinds but a strong aptitude love and delight in it and in regard the Women are as knowing therein as the Men it doth incourage their Husbands to hold on in their Trades to their dying days knowing the capacity of their Wives to get in their Estates and carry on their Trades after their Deaths Whereas if a Merchant in England arrive at any considerable Estate he commonly with-draws his Estate from Trade before he comes near the confines of old Age reckoning that if God should call him out of the World while the main of his Estate is engaged abroad in Trade he must lose one third of it through the unexperience and unaptness of his Wife to such Affairs and so it usually falls out Besides it hath been observed in the nature of Arithmetick that like other parts of the Mathematicks it doth not only improve the Rational Faculties but inclines those that are expert in it to Thriftiness and good-Husbandry and prevents both Husbands and Wives in some measure from running out of their Estates when they have it always ready in their Heads what their Expences do amount to and how soon by that course their Ruin must overtake them Eightly The lowness of their Customs and the height of their Excise which is certainly the most equal and indifferent Tax in the World and least prejudical to any people as might be made appear were it the subject of this Discourse Ninthly The careful providing for and employment of their Poor which it is easie to demonstrate can never be done in England comparatively to what it is with them while it 's left to the care of every Parish to look after their own only Tenthly Their use of BANKS which are of so immence advantage to them that some not without good grounds have estimated the Profit of them to the Publick to amount to at least one Million of Pounds sterling per annum Eleventhly Their Toleration of different Opinions in matters of Religion by reason whereof many industrious People of other Countries that dissent from the Established Government of their own Churches resort to them with thetr Families and Estates and after a few years co-habitation with them become of the same Common interest Twelfthly Their Law-Merchant By which all Controversies between Merchants and Tradesmen are decided in three or four days time and that not at the fortieth part I might say in many cases not the hundredth part of the charge they are with us Thirteenthly The Law that is in use among them for Transferrence of Bills for Debt from one Man to another This is of extraordinary advantage to them in their Commerce by means whereof they can turn their Stocks twice or thrice in Trade for once that we can in England for that having sold our Foreign Goods here we cannot buy again to advantage till we are possest of our Money which it may be we shall be six nine or twelve Months in recovering And if what we sell be considerable it is a good Man's work all the Year to be following Vintners and Shop-keepers for Money Whereas were the Law for Transferring Bills in practice with us we could presently after sale of our Goods dispose of our Bills and close up our Accounts To do which the Advantage ease and Accommodations it would be to Trade is so great that none but Merchants that have lived where that custom is in use can value to its due proportion Fourteenthly Their keeping up PUBLICK REGISTERS of all Lands and Houses Sold or Mortgaged whereby many chargable Law-Suits are prevented and the securities of Lands and Houses rendred indeed such as we commonly call them REAL SECURITIES Lastly The lowness of Interest of Money with them which in peaceable times exceeds not three per cent per annum and is now during this War with England not above four per cent at most Some more Particulars might be added and those aforesaid further improved were it my purpose to discourse at large of Trade But seeing most of the former Particulars are observed and granted by all men that make it any part of their business to inspect the true nature and Principles of Trade but the last is not so much as taken notice of by the most Ingenious to be any Cause of the great encrease of the Riches and Commerce of that people I shall therefore in this Paper confine my self to write principally my Observations touching that viz. The Profit That People have received and any other may receive by reducing the Interest of Money to a very low rate This in my poor opinion is the Causa Causans of all the other causes of the Riches of that People and that if Interest of Money were with us reduceâ— to the same rate it is with them iâ— would in a short time render us as ricâ— and considerable in Trade as they noâ— are and consequently be of greateâ— damage to them and advantage to us then can happen by the Issue of this present War though the success of it should be as good as we can wish except it end in theâ—r total Ruin and Extirpation To illustrate this let us Impartially search our Books and enquire what the state and condition of this Kingdom was as to Trade and Riches before any Law concerning Interest of Money was made The first whereof that I can find was Anno 1545. and we shall be informed that the Trade of England then was Inconsiderable and the Merchants very mean and few And that afterwards viz. Anno 1635. within ten Years after Interest was brought down to eight per Cent there was more Merchants to be found upon the Exchange worth each One Thousand Pounds and upwards then were in the former dayes viz. before the Year 1600. to be found worth One Hundred Pounds each And now since Interest hath been for about twenty Years at six per Cent notwithstanding our long civil Wars and the great complaints of the deadness of Trade there are more men to be found upon the Exchange now worth Ten thousand Pounds Estates then were then of One thousand Pounds And if this be doubted let us ask the aged whether five hundred
in England because he cannot make above three per Cent of it upon Interest at home But if they should call home all the Money they have with us at Interest it would be better for us than if they did it not for the Borrower is alwayes a slave to the Lender and shall be sure to be always kept poor while the other is fat and full HE THAT USETH A STOCK THAT IS NONE OF HIS OWN BEING FORCED FOR THE UPHOLDING HIS REPUTATION TO LIVE TO THE FULL IF NOT ABOVE THE PROPORTION OF WHAT HE DOTH SO USE WHILE THE LENDER POSSESING MUCH AND USING LITTLE OR NONE LIVE ONLY AT THE CHARGE OF WHAT HE USETH AND NOT OF WHAT HE HATH Besides if with this Law for abatement of Interest a Law for Transferring Bills of Debt should pass we should not miss the Dutch Money were it ten times as much as it is amongst us for that such a Law will certainly supply the the defect of at least one half of all the ready Money we have in use in the Nation Object 2. If Interest be abated Land must rise in purchase and consequeâ—tly Rents and if Rents then the Fruits of the Land and so all things will be dear and how shall the Poor live c. Answ. To this I say If it follow that the Fruits of our Land in consequence of such a Law for abatement of Interest grow generally dear it is an evident demonstration that our People grow richer for generally where-ever Provisions are for continuance of Years dear in any Country the People are rich and where they are most cheap throughout the World for the most part the People are very poor And for our own Poor in England it is observed That they live better in the dearest Countries for Provisions than in the cheapest and better in a dear year than in a cheap especially in relation to the publick good for that in a cheap Year they will not work above two dayes in a Week their humour being such that they will not provide for a hard time but just work so much and no more as may maintain them in that mean condition to which they have been accustomed Object 3. If Interest be abated Vsurers will call in their Money so what shall Gentlemen do whose Estates are Mortgaged c. Answ. I answer That when they know they can make no more of their Money by taking out of one and putting it in another hand they will not be so forward as they threaten to alter that Security they know is good for another that may be bad Or if they should do it our Laws are not so severe but that Gentlemen may take time to dispose of part of their Land which immediately after such a Law will yield them thirty yeaâ—s purchase at least and much better it is for them so to do than to abide longer under that consuming Plague of Usury which hath insensibly destroyed very many of the best Families in England as well of our Nobility as Gentry Object 4. As Interest is now at six per cent the Kings Majesty upon any emergency can hardly be supplied and if it should be reduced to four per cent how shall the King find a considerable sum of Money to be lent him by his People Answ. I answer The abatement of Interest to the People is the abatement of Interest to the King when he hath occasion to take up Money For what is borrowed of the City of London or other Bodies Politick nothing can be demanded but the legal Interest and if the King have occasion to take up Money of private Persons being his Majesty according to good right is above the common course of Law the King must and always hath given more then the legal Rate As for instance The legal Rate is now six per cent but his Majesty or such as have disposed of his Majesties Exchequer-Tallies have been said to give ten and twelve in some cases and if the legal Rate were ten his Majesty might probably give thirteen or fourteen So if Interest be brought to four per cent his Majesty in such cases as he now gives ten must give six or seven by which his Majesty would have a clear advantage Object 5. If Interest be abated it will be a great prejudice to Widows and Orphans who have not Knowledge and Abilities to improve their Estates otherwise Answ. I answer That by our Law now Heirs and Orphans can recover no Interest from their Parents Executors except it be left fully and absolutely to the Executors to dispose and put out Money at the discretion of the Executors for the profit and loss of the Heirs and Orphans And if it be so left to the Exccutors discretion they may improve the Monies left them in Trade or purchase of Lands and Leases as well as by Interest Or when not the damage such Heirs and Orphans will sustain in their minority being but two per cent is inconsiderable in respect of the great advantage will accrew to the Nation in generel by such abatement of Interest Besides when such a Law is made and in use all Men will so take care in their Life to provide for and educate their Children and instruct their Wives as that no prejudice can happen thereby as we see there doth not in Holland and Italy and other places where Interest is so low Having now offered my thoughts in answer to the aforesaid Objections it will not be amiss that we enquire who will be advantaged and who will receive prejudice in case such a Law be made First His Majesty as hath been said in answer to that Objection will when he hath occasion take up Money on better terms Besides which He will receive a great Augmentation to his Revenue thereby all his Lands being immediately worth after the making such a Law double to what they were before his Customs will be much increas'd by the increase of Trade which must necessarily insue upon the making such a Law The Nobility and Gentry whose Estates he mostly in Land may presently upon all they have instead of Fifty write one Hundred The Merchants and Tradesmen who bear the Heat and Burthen of the Day most of our Trade being carried on by young Men that take up Money at Interest will find their Yoak sit lighter upon their Shouldiers and be incouraged to go on with greater alacrity in their Business Our Marriners Shipwrights Porters Cloathiers Packers and all sorts of Labouring People that depend on Trade will be more constantly and fully employed Our Farmers sell the product of their Lands at better rates And whereas our Neighbours the Netherlanders who in regard of the largeness of their Stocks and Experiences the Sons continually succeeding the Fathers in Trade to many Generations we may not unfitly in this case term Sons of Anach and Men of renown against whom we fight Dwarfs and â—igmies in Stocks and Experience being younger Brothers of Gentlemen that seldom have
Suppliment THE fore-going Discourse I Wrote in the Sickness-Summer at my Country-Habitation not then intending to publish it but only to communicate it to some Honourable and Ingenious Friends of the present Parliament who were pleased to take Copies of it for their own deliberate consideration and digestion of the Principles therein asserted which at first were strange to them as I expect they will be to most others till they have spent some time in thinking on them after which I doubt not but all Men will be convinced of the Truâ—h of them that have not some private Interest of heir own against them external to the general Good of the Kingdom For sure I am they have a Foundation in Nature and that according to the excellent Sr William Petty's Observation in his late Discourse concerning Taxes Res nolune male Administrare Nature must and will have its course the matter in England is prepared for an Abatement of Interest and it cannot long be obstructed and after the next Abatement who ever lives fourty Years longer shall see a second Abatement for we shall never stand on even ground in Trade with the Dutch till Interest be the same with us as it is with them His Majesty was graciously pleased at the opening of the last Session of this Parliament to propose to the Consideration of both Houses the Ballancing of the Trade of the Nation to effect which in my opinion the Abatement of Interest is the first and principal Engine which ought to be set on work which notwithstanding I should not have presumed to expose it to publick censure on my own single Opinion if I had not had the concurrance of much better Judgments then my own having never seen any thing in Print for it though much against it until the latter end of Ianuary last at which time a Friend whom I had often discoursed with upon this subject met with by accident a small Tract to the same purpose Wrote near fifty years ago which he gave me and I have for publick Good thought fit to annex it hereunto verbatim The Author of the said Tract by the stile thereof seems to have been a Country Gentleman and my Education hath mostly been that of a Merchant so I hope that going together they may in some measure supply the defects of each other Another Reason that induced me to to the Printing of them together is because what he Wrote then would be the consequences of the Abatement of Interest from ten to six per cent I have I think fully proved to the Conviction of all Men not wilfully blind have been the real effects thereof and that to a greater proportion then he did premise every Paragraph whereof was Writ by me and Copies thereof delivered to several worthy Members of this Parliament many Months before ever I saw or heard of this or any thing else Writ or Printed to the like purpose What I have aimed at in the whole is the good of my Native Country otherwise I had not busied my self about it for I want not employment sufficient of my own nor have reason to be out of love with that I have The several Particulars in the beginning of this Treatise relating to Trade I have only hinted in general terms hoping that some abler Pen will hereafter be incited for the service of his King and Country to enlarge more particularly upon them Before I conclude though I have studied brevity in the whole I cannot omit the inserting of one Objection more which I have lately met with to the main design of this Treatise viz. Object It is said that the lowness of Interest of Money in Holland is not the EFFECT OF LAWS but proceeds only FROM THEIR ABUNDANCE THEREOF for that in Holland there is no Law limitting the rate of Usury Answ. I answer that it may be true that in Holland there hath not lately been any Law to limit Usury to the present rate it is now at i. e. three or four per cent although most certain it is that many years since there was a Law that did limit it to five or six at most And by consequence there would be a renewing of that Law to a lesser rate were it necessary at this time It having always been the Policy of that People to keep down the Interest of their Money three or four per cent under the rate of what is usually paid in their Neighbouring Countries which being now naturally done it is needless to use the Artificial Stratagem of a Law to Establish Answ. 2. Although they have no Law expresly limitting Interest at present yet they have other Laws which we cannot yet arrive to which do effect the same thing among them and would do the like among us if we could have them One whereof is their ascertaining REAL SECURITIES by their PUBLICK REGISTERS For we see evidently Money is not so much wanting in England as Securities which Men account Infallible a remarkable Instance whereof is the East-India-Company who can and do take up what Money they please for four per cent at any time Another Law is Their constitution of BANKS and LUMBARDS whereby private Persons that have but tollerable credit may be supplied at easie rates from the State A third and very considerable one is Their Law for Transferring Bills of Debt mentioned in the beginning of this Discourse A fourth which is a Custom and in effect may be here to our Purpose accounted as a Law is the extraordinary Frugality used in all their Publick Affairs which in their greatest Extreamities have been such as not to compel them to give above four per cent for the loan of Money Whereas it is said His Majesty in some Cases of exigency when the National Supplies have not come in to answer the present Emergencies of Affairs hath been inforced to give above the usual Rates to Gold-Smiths and that encouraged them to take up great Sums from private Persons at the full rate of six per cent whereas formerly they usully gave but four per cent otherwise in humane probability Money would have fallen of it self to four per cent But again to conclude Every Nation does proceed according to peculiar Methods of their own in the Transactions of their publick Affairs and Law-making And in this Kingdom it hath always been the Custom to reduce the Rate of Interest by a Law when Nature had prepared the matter fit for such an alteration as now I say it hath By a Law it was reduced from an unlimitted rate to ten and afterwards from ten to eight after that from eight to six And through the Blessing of Almighty God this Kingdom hath found as I think I have fully proved and every Mans Experience will witness prodigious success and advantage thereby And I doubt not through the like Blessing of God Almighty but this Generation will find the like great and good effects by the reduction of it from six to four which is now at
was formerly that Money doubles once in seven Years at 10 per Cent according to which rule 100 l. in seventy Years amounts to 102400 l. One Hundred Pounds at Ten Pounds per Cent per Annum at Interest upon Interest encreaseth thus viz.  L. S. D. AT first 100 00 00 At 3 Months it is 102 10 00 At 6 Months 105 1 03 At 9 Months 107 13 9 At 12 Months 110 07 7 At 1 Year ¼ 113 02 9 At 1 Year ½ 115 19 4 At 1 Year ¾ 118 17 4 At 2 Years 121 16 9 At 2 Years ¼ 124 17 8 At 2 Years ½ 128 00 1 At 2 Years ¾ 131 4 1 At 3 Years 134 9 9 At 3 Years ¼ 137 17 0 At 3 Years ½ 141 5 10 At 3 Years ¾ 144 16 6 At 4 Years 148 8 11 At 4 Years ¼ 152 3 1 At 4 Years ½ 155 19 2 At 4 Years ¾ 159 17 2 At 5 Years 163 17 1 At 5 Years ¼ 167 19 0 At 5 Years ½ 172 3 0 At 5 Years ¼ 176 9 1 At 6 Years 180 17 3 At 6 Years ¼ 185 7 9 At 6 Years ½ 190 5 0 At 6 Years â— 4 194 15 5 At 7 Years 199 12 10 Supposing One Hundred Pounds to double in seven Years at Interest upon Interest as aforesaid the encrease is viz.  L. At first 100 At 7 Years 200 At 14 Years 400 At 21 Years 800 At 28 Years 1600 At 35 Years 3200 At 42 Years 6400 At 49 Years 12800 At 56 Years 25600 At 63 Years 51200 At 70 Years 102400 Pag. 13. he saith That I make use of the abuse of Interest which no man pleads for annexing a Discourse against Interest writ in 1621. when it was at 10 per Cent endeavouring thereby to impose a Belief that the Gentleman who writ that Discourse was of my mind whereas it may be supposed the Author of that Book was contented with 8 per Cent because within four Years after it was brought down to that Rate and that otherwise he would have writ further it being probable that he might live till after four Years I answer That through the Mercies of Almighty God and for the good of this Kingdom that Patriot of his Country Old Sr Thomas Culpepper who I have since been assured was the Author of that Treatise did live above twenty Years after the writing thereof and then published a second Treatise which was lately Re-printed by his worthy Son which second Treatise is now to be had at Mr Wilkinson's over against St Dunstan's Church in Fleet-street which I would advise my Opposer to read and then I hope he will be more modest hereafter then to mis-call the most Natural and Rational Conclusions IMPOSINGS But lest he should not meet with the said Treatise I shall here insert a few Lines out of it to the present purpose viz. Old Sr Thomas speaking of the certain good Effects of the Abatement of Interest from 10 to 8 per Cent pag. 19. of his second Treatise saith This good success doth call upon us not to rest here but that we bring the use for Money to a lower rate which now I suppose will find no Oppâ—sition for all Objections which before the Statute were made against it are now answered by the Success most certainly the benâ—fit will be much greater to the Common wealth by calling the Vse for Money down from 8 to 5 or 6 per Cent then it was from calling it down from 10 to 8 per Cent. I shall not Comment upon his Words but only declare that in truth I never heard of this Treatise noâ— of any other to the like effect when I write mine Pag. 13. the Gentle-man bâ—ings up his Battalia and like a stout Champion for the slie and timerous heard-of Usurers plants his main Battery against that part which I confessed to be weakest viz. that the difficulty of this Question is Whether the lowness of Interest be the cause or the Effect of Riches And he positively denies that the lowness of Interest is the Cause affirms it to be only the Effect thereof which he endeavours to prove by four Arguments which I shall particularly answer in a due place in the mean time use my own Method to prove That the Abatement of Interest by a Law in England will be a means to improve the Riches of this Kingdom And I prove it thus 1. Whatever doth Advance the value of Land in Purchase must be a procurâ—ng cause of Riches 2. Whatever doth Improve the Rent of Farms must be a procurâ—ng cause of Riches 3. Whatever doth Encrease the bulk of Foreign Trade must be a procurâ—ng cause of Riches 4. Whatever doth Multiply domestick Artificers must be a procurâ—ng cause of Riches 5. Whatever doth Encline the Nation to Thriftiness must be a procurâ—ng cause of Riches 6. Whatever doth Employ the Poor must be a procurâ—ng cause of Riches 7. Whatever doth Encrease the Stock of People must be a procurâ—ng cause of Riches Now that the abatement of Interest will advance the value of Land I prove first by Experience for certainly Anno 1621. the currant price of our Lands in England was twelve Years purchase and so I have been assured by many antient Men whom I have queried particularly as to this Matter and I find it so by purchases made about that time by my own Relations and Acquaintance and I presume that any Nobleman or Gentleman of England by only commanding the Stewards of their Mannors to give them Lists out of the Records of any Mannors or Farms that their Grand-Fathers or Fathers bought or sold fifty Years past will find that the same Farms to be now sold would yield one with another at least treble the Mony and in some cases six times the Mony they were then bought and sold for which I submit still to the single and joynt Judgments of the honourable Members of both Houses of Parliament who being the greatest Owners of our Territory are in their private as well as in their politick Capacities the most proper and experimental Judges of this Case if the Antient of them will please to recollect their Memories and the Younger will please to be informed by their Elder Servants and if this be so it cannot be denied but the abatement of Interest by a Law hath greatly advanced Lands in purchase as well as improved Rents by meliorating the Lands themselves those improvements by marling limeing draining c. having been made since Money was at 8 and 6 per cent which 10 per cent could not bear And to prove that Lands were then at twelve Years purchase I have the written Testimony of that incomparable worthy Person Sr Thomas Culpepper Senior who page 11. of his first Treatise expresly affirms That Land was then at twelve Years Purchase who being himself a grave and antient Parliament Man and dedicating his Book to the then Parliament whereof he was then a Member cannot without horrible uncharitableness be presumed
Buyers will raise the price of Land If they trade they encrease the number of Traders and consequently the bulk of Trade and let their Money lie dead by them I think I have fully proved they cannot in an addition I published to my first Observations 4. By reason for first whilst Interest is at 6 per Cent no man will run an adventure to Sea for the gain of 8 or 9 per Cent which the Dutch having Money at 4 or 3 per Cent at Interest are contented with and therefore can and do follow a vast trade in Salt from St Vuall Rochel and other parts to the Baltiquâ— Seas and also their fishing Trade for Herrings and Whale-fishing which we neglect as being not worth our trouble and hazard while we can make 6 per Cent of our Money sleeping For the measure of Money employed in Trade in any Nation bears an exact proportion to the Interest paid for Money As for instance when Money was at 10 per Cent in England no man in his wits would follow any Trade whereby he did not promise himself 14 or 12 per Cent gain at least when Interest was at 8 the hopes of 12 or 10 at least was necessary as 8 or 9 per Cent is now Interest goes at 6 per Cent the Infallible Consequence whereof is that the Trades before recited as well as those of Muscovy and Greenland and so much at least of all others that will not afford us a clear profit of 8 or 9 per Cent we carelesly give away to the Dutch and must do so forever unless we bring our Interest nearer to a Par with theirs and hence in my poor Opinion it follows very clearly that if our Interest were abated one third part it would occasion the employment of one third part more of Men Shiping and Stock in foreign and domestick Trades This discovers the vanity of all our Attempts for gaining of the White-Herring Fishing-Trade of which the Dutch as every body observes make wonderful great advantage though the Fish be taken upon our own Coasts I wish as many did take notice of the reason of it which therefore I shall say something of now though I have touched it in my former Treatise The plain case is this A Dutch-man will be content to employ a Stock of 5 or 10000 l. in Burses materials for Fishing Victuals c. for the carrying on of this Trade and if at the winding up of his Accounts he finds he hath got clear communibus annis for his Stock and Adventure 5 per Cent per Annum he thanks God and tells his Neighbours he hath had a thriving Trade Now while every sloathful ignorant man with us that hath but wit enough to tell out his Money to a Gold Smith can get 6 per Cent without pains or care Is it not monstrous absurd to imagine that ever the English will do aâ—y good upon this Trade till they begin at the right end which must be to reduce the Interest of Money Secondly The depraved nature of man affecting ease and pleasure while use of Money runs at 6 per Cent hath always at hand an easie expedient to indulge that humor and reconcile it to another as considerable viz. his Covetousness by putting his Money to use and if a Merchant through his youthful care and industry arrive to an Estate of 20000 l. in twenty Years trading whilst Money is so high and Land so low he can easily turn Country Gentleman or Usurer which were Interest of Money at 4 per Cent he could not do and consequently must not only follow his Trade himself but make his Children Traders also for to leave them Money without skill to use it would advantage little and purchasing of Lands less when the fall of Interest shall raise them to twenty or thirty Years purchase which I hope yet to live to see Thirdly From this necessity of Merchants keeping to their Trade and Childrens succeeding their Fathers therein would ensue to Merchants greater skill in Trade more exact and certain correspondency surer more trusty Factors abroad those better acquainted concatinated together by the experimental links of each others Humors Stile Estate and Business And whereas it is as much as a prudent man can do in ten Years time after his settling in London to be exactly well fitted with Factors in all parts and those by Correspondency brought into a mutual Acquaintance of each other and honest Work-men and Masters of Ships c. And by that time he hath traded ten Years longer if he succeed well it is six to one but he leaves Trade and turns Country Gentleman or Vsurer and so that profitable Engine the Wheels whereof by Correspondency move one another in many parts of the World which he hath been so long a framing within a few Years after it is brought to work well is broken to pieces and the benefit thereof to the Kingdom which is ten times more then to him that made it is lost whereas in Holland and Italy where Money is at 3 and 4 per Cent and consequently Merchants forc'd to keep and trust to their Trades only their Businesses are and must be so ordered and carried on from the beginning that when a Man dies the Trade is no more disturbed then when the Wife dies in England I am ashamed of the odious Prolixity and Repetition I am contrary to my Nature forced to use but my Opposer doth so often and I think disingenuously upbraid me with begging the Question that I am compelled to it The fourth thing I am to prove is that It multiplies Domestick Artificers If the former be true that it encreases foreign Trade I suppose no man will have the confidence to deny this to be a necessary and infallible consequence of that For we see throughout the World where-ever there is the greatest Trade there are the most Artificers and that since our own Trade encreased in England our Artificers of all sorts are proportionably encreased The building of London hath made multitudes of Bricklayers and Carpenters much use of Shiping will make Ships dear and the dearness of Shiping will make many Shipwrights much foreign Trade will encrease the vent of our Native Manufactures and much vent will make many work-men and if we cannot get and breed them fast enough our selves we shall draw them from foreign parts as the Dutch draw away ours it being a wise and true observation of as I remember Sr Walter Rawleigh That no Nation can want People that hath good Laws The fifth thing to be proved is that It enclines a Nation to thriftiness this is likewise consequent to the former and by experience made good in England for since our Trade encreased though the generality of our Nation are grown richer as I have shewed and consequently more splendid in Clothes Plate Jewels Houshold-stuff and all other outward signs of Riches yet are we not half so much given to Hospitality and good House-keeping
as it is called as in former dayes when our greatest Expence was upon our Bellies the most destructive Consumption that can happen to a Nation and tending only to nourish Idleness Luxury and Beggary whereas that other kind of Expence which follows Trade encourageth Labour Arts and Invention To which give me leave to add that The abatement of Interest conjoynt with Excises upon our home consumption if the later could be hit upon without disturbance to Trade or danger of continuation are two of the most comprehensive and effectual Sumptuary Laws that ever were established in any Nation and most necessitating and engaging any People to thriftiness the high Road to Riches as well for Nations as private Families The frugal Italians of Old and the provident Dutch of latter times I think have given the World a sufficient proof of this Theorim and if any shall tell me it is the nature of those People to be thrifty I answer all men by nature are alike it is only Laws Custom and Education that differ men their Nature and Disposition and the disposition of all People in the World proceed from their Laws the French Peasantry are a slavish cowardly People because the Laws of their Country have made them Slaves the French Gentry a noble valiant People because free by Law Birth and Education In England we are all free Subjects by our Laws and therefore our People prove generally couragious the Dutch and Italians are both frugal Nations though their Climates and Governments differ as much as any because the Laws of both Nations encline them to Thriftiness other Nations I could name are generally vain prodigal not by Nature nor for want of a good Country but because their Laws c. dispose them so to be The sixth proof of the Proposition is that It employes the Poor which is a ne-necessary Consequence likewise of the encrease of Trade in Cities and Emprovement of Land in the Country which is well and truly demonstrated from Experience by the Elder and Younger Sr Thomas Culpepper to whom to avoid Prolixity I must refer the Reader Seventhly It encreaseth the People of a Nation this also necessarily followeth the encrease of Trade and Emprovement of Lands not that it causeth married men to get more Children But 1 st a trading Country affording comfortable Subsistances to more Families then a Country destitute of Trade is the reason that many do marry who otherwise must be forc'd to live single which may be one reason why fewer People of either Sex are to be seen unmarried in Holland at 25 years of age then may be found in England at 40 years old 2 dly Where there is much Employment and good Pay if we want Hands of our own we shall draw them from others as hath been said 3 dly We shall keep our own People at home which otherwise for want of Employment would be forcd to leave us and serve other Nations as too many of our Sea-men Ship-wrights and others have done 4 thly Our Lands and Trade being improved will render us capable not only of employing but feeding a far greater number of People as is manifest in that instance of the Land of Palestine And if these will be the effects of abating Interest then I think it is out of doubt that the Abatement of Interest is the cause of the encrease of the Riches of any Kingdom for quicquid efficit tale est magis tale Now to answer his four recited Reasons viz. First he saith If a low stated Interest by Law be the cause of Riches no Country would be poor all desiring Riches rather then Poverty and all having it in their power to state their Interest as low as they please by Law I answer first Whatever Nation doth it gradually for so it must be done as it hath been hitherto in England 2 per Cent being enough to abate at one time will find those effects I have mentioned but it is a work of Ages and cannot be done at once For Nec natura aut lex operantur per saltum Secondly It is great Imprudence to imagine that any Country understanding their true Interest so well as by degrees to abate Use-Money will not likewise by the same Wisdom be led to the instituting of many other good Laws for the encouragement of Trade as our Parliaments have still proceeded to do as Interest hath been abated His second Reason is That if the lowness of Interest were not the effect of Riches in Holland they might take as much Vse-Money as they could get there being no Law against it I answer There were formerly Laws in Holland that reduced Interest to 8 and 6 and afterwards to 5 per Cent Anno 1640. and since in the Year 1655. to 4 per Cent the Placart for which I have seen and have been told and do believe they have since reduced it by Placart to 3 per Cent as to their Cantors and all publick Receipts which in Holland is as much in effect as if they had made a general Law for it because the most of their Receipts and Payments are made in and out of the aforesaid publick Offices or else into and out of their Banks for which no Use-Money is allowed which several gradual and succesful Abatements of Interest did occasion their Riches at first and brought their People to that consistency of Wealth that they have since wrought themselves into such an abundance that there are more Lenders now than Borrowers and so I doubt not but it will be with us in a few Years after the next Abatement of Interest is made by Law which I have good reason to conclude not only from the visible operations of nature in all other things and places but from Fact and Experience in this very case being certain that the Gold-Smiths in London could have what Money they would upon their Servants Notes only at 4 l. and 4 l. 10 s. per Cent before the late Emergencies of State which I could demonstrate have very much obstructed the natural fall of Interest with us something more I have said in answer to this in the addition to my former Treatise and this may serve likewise for an answer to his third Reason Fourthly he saith That which I must prove to make good my Assertion is that any Country in the World from a poor and low condition while Interest was at 6 per Cent was made rich by bringing it to 4 per Cent or 3 per Cent by a Law I answer If the instance of Holland and Italy were not sufficient to satisfie him in this point yet that having proved which he cannot deny that our own Kingdom hath been enriched consequently constantly and proportionably to and after our several Abatements of Interest by Law from an unlimitted rate to 10 from 10 to â— and from 8 to 6 per Cent I think it may rationally be concluded that another Abatement of Interest in England would cause a further encrease of
Riches as it hath done in Holland From Italy I have endeavoured to gain a certain accompt of their legal Interest but am advised that no taking of Use-Money is allowed by their Pontificial Laws the Interest now taken there which is generally 4 per Cent is done only by dispensation of Pope Paul the fifth and that notwithstanding no man can recover Interest of Money there if the party who should pay it can prove he hath no gained the value of the Interest demanded Now let the Reader judge whether that practise of Holland and this of Italy where the Romish Church-men have so great power who are to take Cognizance and may by their Auricular Confessors of all Offences of this kind the Laws concerning the use of Money in those Countries being Pontificial do not amount in effect to a low stated Interest by Law in England But to deal more ingenuously with my Opposer then he hath done with me I will grant him that much Riches will occasion in any Kingdom a low rate of Interest and yet that doth not hinder but a low stated Interest by Law may be a cause of Riches For if Trade be that which enricheth any Kingdom and lowering of Interest advanceth Trade which I think is sufficiently proved then the Abatement of Interest or more properly restraining of Usury which the antient Romans and all other wise and rich People in the world did always drive at is doubtless a primary and principal cause of the Riches of any Nation it being not improper to say nor absurd to conceive that The same thing may be both a Cause and an Effect Peace begets Plenty and Plenty may be a means to preserve Peace Fear begets Hatred and Hatred Fear The diligenâ— Hand makes rich and Riches makes men diligent so true is the Proverb Crescit amor Nummi quantum ipsa pecunia erescit Love we say begets Love the fertility of a Country may cause the encrease of People and the encrease of People may cause the further and greater fertility of a Country Liberty and Property conduce to the encrease of Trade and Emprovement of any Country and the encrease of Trade and Emprovements conduce to the procuring as well as securing of Liberty and Property Strength and Health conduce to a good digestion and a good digestion is necessary to the preservation of Health and encrease of Strength and as a Person of very great honour pertinently instanced at a late debate upon this Question An Egg is the cause of a Hen and a Hen the cause of an Egg. The incomparable Lord Bacon in his History of Henry the 7th saith pag. 245 of that Prince as well as other men That his Fortune worked upon his Nature his Nature upon his Fortune the like may be said of Nations The Abatement of Interest causeth an encrease of Wealth and the encrease of Wealth may cause a further Abatement of Interest But that is best done by the Midwifery of good Laws which is what I plead for the corrupt Nature of man being more apt to decline to Vice then incline to Vertue Folio 15. he affirms Lands are not risen in Purchase nor Rents improved since the Abatement of Interest That I shall say no more to it is matter of Fact and Gentlemen who are the Owners of Land are the best Iudges of this case only I would entreat them not to depend upon their Memories alone but to command particular accompts to be given them what sum or sums of Money were given 40 or 50 Years past for any intire Farms or Mannors they now know and I doubt not but they will find that most of them will yield double the said sums of Money now notwithstanding the present great pressures that Land lies under which ought maturely to be considered of when this judgment is made I rather desire the enquiry to be made upon the gross sum of Money paid then the Years purchase as being less fallible because many Farms have been of late Years so rackt up in Rents that it may be they will not yield more Years purchase now according to the present Rents then they would many years past and yet may yield double the Money they were then bought or sold for because the Rents were much less then Fol. 15. he impertinently quarrels at my instance of Ireland saying I quote it sometimes to prove the benefit of a low Interest pag. 8. And sometimes the mischief of high Interest pag. 9. Which seems to me to be an unfriendly way of prevaricating For pag. 8. I mention the late great improvement of Ireland only as an accidental cause why our Rents at that present fell and in this it appears I was not much mistaken for within a few Moneths after I first writ that Treatise the Parliament took notice of it Pag. 9. I mention that place among others that pay a high Interest and are consequently very poor if there be any contradiction in this let the Reader judge Pag. 16. the Gentleman puzleth himself about finding Mistakes in my Calculation of the encrease of Merchants Estates but discovers none but his own so I shall not trouble the Reader further about that all Merchants granting me as much as I design by it though some of them have not or care not to observe the Abatement of Interest to have been the principal cause thereof Fol. 17. Because he cannot answer that large and pregnant instance of the effects of a low Interest which I gave in the case of the Sugar-Bakers of London and those of Holland which was but one of a hundred which I could have mentioned he endeavours to set up another of a contrary effect which is a weak rediculous Instance and nothing to his purpose for that Commodity that I mentioned viz. Sugar is a solid bulky Commodity always in fashion not consequent to humor as is that of Silk-Stockings 1000 l. worth whereof may be with less charge carried to Italy then 30 l. worth of Barbadoes Sugar can be sent to Holland Besides the reason why we of late sent Silk-Stockings thither is accidental not natural only happening by means of an Engin wâ— have to weave them whereof they have not yet the use in Italy Besides wearing things being more esteemed through Fancy then Judgment the Italians may have the same Vanity which is too much amongst us to esteem that which is none of their own making as we do French Ribonds and the French-men English ones besides he is mistaken in saying we bring the Silk we make them of from Italy for the Silk of which we make that Commodity is Turky not Italian Silk Fol. 18. The Gentleman begins to be kind and finding me out of the way pretends to set me right viz. to instruct me as first what will bring down Interest 1st Multitude of People 2dly A full Trade 3dly Liberty of Conscience I Answer That I have I think proved that the Abatement of Interest will effect the two former
and I think my Opposer is not clear sighted if he cannot discern that the latter in a due and regulated proportion must be a consequent of them In the next place the Gentleman finding me at a loss as he says for the reason of our great Trade at present will help me as well as he can I answer Those latter Words as well as he can were well put in for as yet he hath told me no News nor given any shadow of Reason that I knew not before and had maturely considered on many Years before I writ the first Treatise The Reasons he gives for our present greatness of Trade are First Our casting off the Church of Rome Secondly The Statutes in Henry the 7 th's time prohibiting Noble mens Retainers and making their Lands liable to the payment of Debts Thirdly The discovery of the East and West-India Trades pag. 19 20. To his first and second Reasons I answer that Those Statutes of Henry the 7 th and our casting off the Church of Rome did long precede our being any thing in Trade which began not until the latter end of Queen Elizabeth's Reign and afterwards encreased in the time of King Iames and King Charles the first as we abated our Interest and not otherwise there being a Person yet living and but 77 Years of Age viz. Captain Russel of Wapping who assures me he can remember since we had not above three Merchants Ships of 300 Tuns and upwards belonging to England Secondly That in Italy where there are no such Statutes for abridgement of Noble men's Retainers nor casting off the Church of Rome there is notwithstanding a very great Trade and Land at from 35 to 40 Years purchase which sufficiently shews that a low Interest is absolutely and principally necessary and that the other particulars alone will not do to the procuring of those ends although a low Interest singly doth it in Italy To his third Reason I answer that There are some men yet living who do remember a greater Trade to East-India and a far greater Stock employed therein then we have now and yet we were so far from thriving upon it that we lost by it and could never see our principal Money again Nor ever did we greatly prosper upon it till our Interest was much abated by Laws nor ever shall mate the Dutch in it till our Interest be as low as theirs The like in a great measure is true in our West-India Trades we never got considerable by them till our last Abatement of Interest from 8 to 6 per Cent. Pag. 21 22. he labours to prove that If we would have Trade to flourish and Lands high we must imitate the Hollanders in their Practices which in matter of Trade I know is most certain so far as they are consistent with the Government of our own Country And the first and readiest thing wherein we can imitate them is to reduce our Interest of Money to a lower rate after the manner of our Fathers and they did it before us which will naturally lead us to all the other advantages in Trade which they now use 1. For If Interest be abated to 4 per Cent who will not that can leave his Children any competent Estate of 1000 or 2000 l. each bring them up to Writing Arithmetick and Merchants Accompts and instruct them in Trades well knowing that the bare use of their Money or the product of it in Land will scarce keep them 2. Must not all Persons live lower in Expence when all Trades will be less gainful to Individuals though more profitable to the Publick 3. Will it not put us upon building as bulky and cheap sailing Ships as they 4. Will it not bring Trade to be so familiar amongst us that our Gentlemen who are in our greatest Councils will come to understand it and accordingly contrive Laws in favour of it 5. Will not nay hath it not already brought us to lower our Customs upon our own native Commodities and Manufactures 6. Will it not in time bring us to transferring Bills of Debt Is not necessity the Mother of Invention and that old Proverb true facile est inventis addere There is in my poor Opinion nothing conduceable to the good of Trade that we shall not by one accident or other hit upon when we have attained this Fundamental point and are thereby necessitated to follow and keep to our Trades from Generation to Generation 7. Do we not see that even as the World now goes dies diem docet scarce a Session of Parliament passeth without making some good Acts for the bettering of Trade and pareing off the extravagancy of the Law for which ends this last Session produced three That about the Silk-Throwsters That about Transportation of Hides c. That about Writs of Error 8. Will not the full understanding of Trade acquired by Experience and never wanting to any People that make it their constant business to follow Trade as we must do when Interest shall be at 4 per Cent quickly bring us to find our advantage in permitting all Straâ—gers to co-habit trade and purchase Lands amongst â—s upon as easie terms as the Dutch do Will not the Consequence of this Law by augmenting the value of Land bring us in time to regular and just Enclosements of our Forrests Commons and Wastes and making our smaller Rivers navigable the highest Improvements that this Land is capable of And have not these last 50 Years since the several Abatements of Interest produced more of these profitable Works then 200 Years before Will not the Consequence of this Law discover to us the vanity and opposition to Trade that there seems to be in many of our Statutes yet in force such as these fâ—llowing viz. 1st The Statutes of Bankrupt as they are now used in many cases more to the Prejudice of honest Dealers then the Bankrupt himself by compelling men often times to refund Money received of the Bankrupt for Wares justlâ— sold and delivered him long before it was possible for the Seller to discover the Buyeâ— to be a Brankrupt 2dly Such are our Laws limiting the price of Beer and Ale to one Penny per Quart which bar us from all Improvements and Imitation of foreign Liquors made of Corn commonly called Mum Spruce-Beer Rosteker-Beer which may and are made in England and would occasion the profitable Consumption of an incredible quantity of our Grain and prove a great aâ—dition to his Majestieâ— Revenue of Excise expend abundance of Coals in long boyling of those Commodities imploy many Hands in the Manufacture of them as well as Shipping in Transportation of them not only to all our own Plantations in America but to many other parts of the World 3dly Our Laws against engrossing Corn and other Commodities there being no Persons more beneficial to Trade in a Nation then Engrossers which will be a worthy Employment for our present Vsurers and render them truly useful to their Country 4thly Such
was our Law against Exportation of Bullion lately repealed 5thly Such is the use of the Law at present which takes not only a Custom but 15 s. per Tun Excise on strong Beer exported being the same Rate it pays when spent at home contrary to the practice of all trading Countries 6thly Such are our Laws which charge Sea-Coals or any of our native Provisions exported with Custom viz. Beef Pork Bread Beer c. for which I think in prudence the Door should be opened wide to let them out 7thly Of the like nature is our Law imposing a great duty upon our Horses Mares and Nags exported 8. Such in my weak Opinion is that branch of the Statute of 5 Eliz. that none should use any manual Occupation except he hath been Appretince to the same 9thly Such in my Opinion is the Law which yet prohibits the Exportation of our own Coin for since it is now by consent of Parliament agreed and found by experience of all understanding men to be advantagious for this Kingdom to permit the free Exportation of Bullion I think it were better for us that our own Coin might likewise be freely exported because by what of that went out we should gain the Manufacture the Coyning besides the great honour and note of Magnificency it would be to his Majesty and this Kingdom to have his Majesty's Coin currant in all parts of the Vniverse 10thly Such are all by-Laws used among the Society of Coopers other Artificers limiting Masters to keep but one Apâ—rentice at a time whereas it were better for the publick they were permitted to keep ten if they could or would maintain or employ them 11thly Such seem to be many of our Laws relating to the Poor especially those against Inmates in Cities trading Towns and those obliging Parishes to maintain their own Poor only Page 23. and 24. the Gentleman makes a large Repetition of what he had said before wherein I observe nothing new but that he saith the East-India-Company have Money at 4. per cent only because Men may have their Money out when they please which is a mistake though a small one for the Company seldom or never take up Money but for a certain time though I doubt not but that Generous Company will and do at most times accommodate any Person with his Money before due that hath occasion to require such a kindness of them although they oblige not themselves to do it In this tenth particular at the latter end of page 24. he saith I am mistaken in my Assertion of the Interest of Scotland which upon further enquiry amongst the Scotch Merchants upon the Exchange I am told is his own mistake So I must leave that being matter of fact to those that know that Country and its Laws more and better then either of us Lastly he concludes that whilst I say the matter in England is so naturally prepared for an Abatement of Interest that it cannot be long obstructed I propound a Law to anticipate Nature which is against Reason I answer it was the Wisdom of our Grand-fathers to bring it to what it would bear in their time and our Fathers found the good effects of that and brought it lower and the benefit thereof is since manifested to us by the success and therefore seeing the matter will now bear further Abatement it is reasonable for us to follow that excellent Example of our Ancestors Laws against Nature I grant would be ineffectual but I never heard before that Laws to help Nature were against Reason Touching the Gentleman's personal Reflections upon me I shall say little it appears sufficiently by what I have writ and his Answer that I am an Advocate for Industry he for Idleness It appears likewise to those that know me in London which are many that I am so far from designing to engrose Trade that I am hastening to convert what I can of my small Estate that is pâ—rsonal into real supposing it to be my Interest so to do before the Use of Money falls which I conclude cannot long suspend and that then Land and Houses must rise and I doubt it will appear when this Gentleman is as well known as I am that he is more an Vsurer then an Owner of Land or Manager of Trade at present my ends have only been to serve my Country which I can with a sincere Heart declare in the Presence of God and Men And that nothing else could have engaged me into this unpleasing Controversie wherein I have given unwilling offence to all my nearest Relations and knew at first that I must needs do so most of them being such as Age and Wisdom hath instructed rather to be Box-keepers then Gamesters I have before-mentioned the Judgment of the French King and Court but intended not to recite the Edict being it is at large in Sr Thomas Culpeppers senior his last Treatise yet on second thoughts considering all Men perhaps may not come to a sight of that and finding the said Edict so comprehensive of the whole matter of this Controversie I have here recited it The King by these Edicts had nothing relieved the necessities of the Nobility if he had not provided for Vsuries which have ruined many good and antient Houses filled Towns with unprofitable Servants and the Countries with Miseries and Inhumanities he found the Rents viz. Vsuries constituted after 10 or 8 in the hundred did ruin many good Families hindred the Traffick and Commerce of Merchandize's and made Tillage and Handicrafts to be neglected many desiring through the easiness of a deceitful Gain to live Idlely in good Towns of their Rents rather then to give themselves with any pains to liberal Arts or to till or husband their Inheritances For this reason meaning to invite his subjects to enrich themselves with more just Gain to content themselves with more moderate profit and to give the Nobility means to pay their Debts he did forbid all Vsury or Constitution of Rents at an higher rate then six Pounds five Shillings in the hundred The Edict was verified in the Court of Parliament which considered that it was always prejudicial to the Commonwealth to give Money to Vsury for it is a Serpent whose biteing is not apparent and yet it is so sensible that it peirceth the very Hearts of the best Families The whole of this Controversie lies narrowly in these two short Questions viz. Will abatement of Interest improve Trade Secondly Will it advance the price of Land The collective united Bodies of the Government of our own and other Kingdoms expresly say it will do both and Experience cries aloud that so it will do and hath done in all Ages and in all Places and I never yet met with any private person how much soever concerned in Interest that had the ignorance or confidence to deny both For discourse with a Country Vsurer he will affirm and perhaps be ready to swear to it that this abatement of Interest is
a Knavish design of the Citizens to advance themselves who are too proud already and that if it go forward it will undo all the Country Gentlemen in England And if one speak with the City Vsurers they will be as ready to affirm that this is a plot carried on only by Noblemen and Gentlemen whose Estates are all in Land for their own advantage and that it will spoil all the Trade of the Kingdom being a project at one instant to take off just one third of all Mens Estates that are personal and add the same proportion to all such whose Estates are real which in effect is to Impoverish all the Younger and Enrich all Elder Brothers in England So that out of the Mouthes of the greatest and wisest Adversaries to this principle it may be justly concluded that though singlely they deny the truth of it yet joyntly they confess it To conclude there is nothing that I have said or that I think any other can say upon this occasion but was said in substance before by old Sr Thomas Culpepper though unknown to me who had an ampel and clear sight into the whole nature of this Principle and the true effects and consequences of it Truth being always the same though Illustrations may vary nor can any thing now be objected against the making a Law for a further abatement of Interest but the same that was objected in those times wherein the former Statutes past so that why my Opposer should cavil at the doing of that by a Law in England now which he seems to â—ike well if it could be done I know no real cause except it be that in truth he is wise enough to know that a Law in England will certainly do the Work as it hath done formerly and in consequence his own private Gain will be retrenched Before I concluded I think it necessary for caution to my Country-men to let them know what effects these discourses have had on others when I wrote my first Treatise Interest was in the Island of Barbadoes at 15 per centum where it is since by an Act of the Country brought down to 10 per cent a great fall at once and our weekly Gazets did some Months past inform us that the Sweeds by a Law had brought down their Interest to 6 per cent neither of which can have any good effects upon us but certainly the contrary except by way of emulation they quicken us to provide in time for our own Good and Prosperity I have now done with this Controversie and therein discharge my Duty to my native Country and though Ignorance Malice or private Interest may yet for some time oppose it I am confident the Wisdom of my Country-men will at length find their true and general Interest in the Establishment of such a Law which as to my own particular concernments signifies not two Farthings whether they do or not CHAP. II. Concerning the Relief and Employment of the Poor THis is a calm Subject and thwarts no common or private Interest amongst us except that of the common Enemy of Mankind the Devil so I hope that what shall be offered towards the effecting of so universally acceptable a Work as this and the removal of the innumerable Inconveniences that do now and have in all Ages attended this Kingdom through defect of such provision for the Poor will not be ill taken although the Plaister at first essay do not exactly fit the Sore In the Discourse of this subject I shall first assert some particulars which I think arâ—â—greed by common Consent and from thence take occasion to proceed to what is more doubtful 1. That our Poor in England have always been in a most sad and wretched condition some Famished for want of Bread others starved with Cold and Nakedness and many whole Families in all the out Parts of Cities and great Towns commonly remain in a languishing nasty and useless Condition Uncomfortable to themselves and Unprofitable to the Kingdom this is confessed and lamented by all Men. 2. That the Children of our Poor bred up in Beggery and Laziness do by that means become not only of unhealthy Bodiâ—s and more then ordinarily subject to many loathsome Diseases whereof very many die in their tender Age and if any of them do arrive to years and strength they are by their idle habits contracted in their Youth rendered for ever after indisposed to Labour and serve only to stock the Kingdom with Thieves and Beggars 3. That if all our impotent Poor were provided for and those of both Sexes and all Ages that can do Work of any kind employed it would redound some Hundreds of Thousands of Pounds per annum to the publick Advantage 4. That it is our Duty to God and Nature so to Provide for and Employ the Poor 5. That by so doing one of the great Sins for which this Land ought to mourn would be removed 6. That our fore-Fathers had pious Intentions towards this good Work as appears by the many Statutes made by them to this purpose 7. That there are places in the VVorld wherein the Poor are so provided for and employed as in Holland Hambrough New-England and others and as I am informed now in the City of Paris Thus far we all agree The first Question then that naturally occurs is Question How comes it to pass that in England we do not nor ever did comfortably Maintain and Employ our Poor The common Answers to this Question are two 1. That our Laws to this purpose are as good as any in the World but we fail in the execution 2. That formerly in the days of our pious Ancestors the work was done but now Charity is deceased and that is the reason we see the Poor so neglected as now they are In both which Answers I humbly conceive the Effect is mistaken for the Cause For though it cannot be denied but there hath been and is a great failure in the Execution of those Statutes which relate to the Poor yet I say the cause of that failure hath been occasioned by defect of the Laws themselves For otherwise what is the reason that in our late times of Confusion and Alteration wherein almost every Party in the Nation at one time or other took their turn at the Helm and all had that Compass those Laws to Stear by and yet none of them could or ever did conduct the Poor into a Harbour of security to them and profit to the Kingdom i. e. none sufficiently maintained the Impotent and employed the Indigent amongst us And if this was never done in any Age nor by any sort of Men whatsoever in this Kingdom who had the use of those Laws now in force it seems to me a very strong Argument that it never could nor ever will be done by those Laws and that consequently the defect lies in the Laws themselves not in the Men i. e. those that should put them in Execution As to the second
Answer to the aforesaid Question wherein want of Charity is assigned for another cause why the Poor are now so much neglected I think it is a scandalous ungrounded Accusation of our Contemporaries except in relation to Building of Churches which I confess this Generation is not so prophense to as former have been for most that I converss with are not so much troubled to part with their Money as how to place it that it may do good and not hurt to the Kingdom For if they give to the Beggars in the Streets or at their Doors they fear they may do hurt by encouraging that Lazy Unprofitable kind of Life and if they give more then their Proportions in their respective Parishes that they say is but giving to the Rich for the Poor are not set on Work thereby nor have the more given them but only their Rich Neighbours pay the less And for what was given in Churches to the visited Poor and to such as were impoverished by the Fire we have heard of so many and great Abuses of that kind of Charity that most Men are under sad discouragements in relation thereunto I write not this to divert any Man from Works of Charity of any kind He that gives to any in Want does well but he that gives to Employ and Educate the Poor so as to render them useful to the Kingdom in my judgment does better And here by the way not to leave Men at a loss how to dispose of what God shall incline their Hearts to give for the Benefit of the Poor I think it not Impertinent to propose the Hospitals of this City and Poor Labouring People that have many Children and make a hard shift to sustain them by their Industery whereof there are multitudes in the out Parts of this City as the best Objects of Charity at present But to return to my purpose viz. to prove that the want of Charity likewise that is now and always hath been in relation to the Poor proceeds from a defect in our Laws Ask any Charitable minded Man as he goes along the Streets of London viewing the Poor viz. Boyes Girles Men and Women of all Ages and many in good Health c. why he and others do not take care for the setting those poor Creatures to Work Will he not readily answer that he wisheth heartily it could be done though it cost him a great part of his Estate but he is but one Man and can do nothing towards it giving them Money as hath bâ—en said being but to bring â—hem into a liking and continuance in that way The second Question then is Question 2. Wherein lies the defect of our present Laws relatiâ—g to the Poor I answer that there may be many but I shall here take notice of one only which I think to be Fundamental and which until altered the Poor in England can never be well Provided for or Employed and that when the said fundamental Error is well amended it is almost impossible they should lack either Work or Maintenance The said radical Error I esteem to be the leaving it to the care of every Parish to Maintain their own Poor only upon which follows the shifting off sending or whiping back the poor Wanâ—erers to the Place of their Birth or laâ—t Abode the practice whereof I have seen many years in London to signifie as much as ever it will which is just nothing of good to the Kingdom in general or the Poor thereof though it be sometimes by accident to some of them a Punishment without effect I say without effect because it reforms not the Party nor desposeth the minds of others to Obedience which are the true ends of all Punishment As for instance a poor idle Person that will not Work or that no Body will Employ in the Country comes up to London to set up the Trade of Begging such a person probably may Begg up and down the Streets seven years it may be seven and twenty before any Body asketh why she doth so and if at length she hath the ill hap in some Parish to meet with a more vigilant Beadle then one of twenty of them are all he does is but to lead her the length of five or six Houses into another Parish and then concludes as his Masters the Parishioners do that he hath done the part of a most diligent Officer But suppose he should yet go further to the end of his Line which is the end of the Law and the perfect Execution of his Office that is suppose he should carry this poor wretch to a Iustice of the Peace and he should order the Delinquent to be Whipt and sent from Parish to Parish to the place of her Birth or last Abode which not one Iustice of twenty through pitty or other cause will do even this is a great charge upon the Country and yet the business of the Nation it self wholly undone â— for no sooner doth the Delinquent arrive at the place assigned but for Shame or Idleness she presently deserts it and wanders dirâ—ctly back or some other way hoping for better Fortune whilst the Parish to which she is sent knowing her a Lazy and perhaps a worse qualited person is as willing to be rid of her as she is to be gone from thence If it be here retorted upon me that by my own confession much of this mischief happens by the non or ill Execution of the Laws I say better Execution then you have seen you must not expect and there was never a good Law made that was not well executed the fault of the Law causing a failure of execution iâ— being natural to all Men to use the remedy next at hand and rest satisfied with shifting the Evil from their own Doors which in regard they can so easily do by threatning or thrusting a poor Body out of the verge of their own Parish it is unreasonable and vain to hopâ— that ever it will be otherwise For the Laws against Inmates and empowering the Parishioners to take Security before they suffer any poor Person to Inhabit amongst them it may be they were prudent constitutions at the times they were made and before England was a place of Trade and may be so still in some Countries but I am sure in Cities and great Towns of Trade they are altogether improper and contrary to the practice of other Cities and Trading Towns abroad The Riches of a City as of a Nation consisting in the multitude of Inhabitants and if so you must allow Inmates or have a City of Cottages And if a right course be taken for the Sustentation of the Poor and setting them on Work you need invent no Stratagems to keep them out but rather to bring them in For the resort of Poor to a City or Nation well managed is in effect the conflâ—x of Riches to that City or Nation and therefore the subtil Dutch receive and relieve or employ all that come to them not enquiring
a Fine of Fifty Pounds and the success hath been answerable For the first Company settled upon that narrow limitted Interest although their Stock was larger then this decayed and finally came to ruin and destruction Whereas on the contrary this being settled on more rational and consequently more just as well as more profitable Principles hath through Gods Goodness thriven and encreased to the trebling of their first Stock CHAP. IV. Concerning the Act of Navigation THough this Act be by most concluded a very beneficial Act for this Kingdom especially by the Masters and Owners of Shiping and by all Sea-men yet some there are both wise and honest Gentlemen and Merchants that doubt whether the Inconveniencies it hath brought with it be not greater then the Conveniencies For my own part I am of Opinion that in relation to Trade Shiping Profit and Power it is one of the choicest and most prudent Acts that ever was made in England and without which we had not now been Owners of one half of the Shiping nor Trade nor employed one half of the Sea-men which we do at present but seeing time hath discovered some Inconveniencies in it if not Defects which in my poor opinion do admit of an easie Amendment and seeing that the whole Act is not approved by unanimous consent I thought fit to discourse a little concerning it wherein after my plain method I shall lay down such Objections as I have met with and subjoyn my Answers with such Reasons as occur to my memory in confirmation of my own Opinion The Objections against the whole Act are such as these Object 1. Some have told me That I on all occasions magnifie the Dutch policy in relation to their Trade and the Dutch have no Act of Navigation and therefore they are certainly not always in the right as to the understanding of their true Interest in Trade or else we are in the wrong in this I answer I am yet to be informed where the Dutch have missed their proper Interest in Trade but that which is fit for one Nation to do in relation to their Trade is not fit for all no more then the same Policy is necessary to a prevailing Army that are Masters of the Field to an Army of less force then to be able to encounter their Enemy at all times and places The Dutch by reason of their great Stocks low Interest multitude of Merchants and Shiping are Masters of the Field in Trade and therefore have no need to build Castles Fortresses and places of Retreat such I account Laws of limitation and securing of particular Trades to the Natives of any Kingdom because they viz. the Dutch may be well assured That no Nation can enter in common with them in any Trade to gain Bread by it while their own use of Money is at 3 per Cent and others at 6 per Cent and upwards c. Whereas if we should suffer their Shiping in common with ours in those Trades which are secured to the English by Act of Navigation they must necessarily in a few Years for the Reasons above 〈…〉 eat us quite out of them Object 2. The second Objection to the whole Act is Some will confess that as to Merchants and Owners of Ships the Act of Navigation is eminently beneficial but say that Merchants and Owners are but an inconsiderable number of men in respect of the whole Nation and that Interest of the greater number that our Native Commodities and Manufactures should be taken from us at the best rates and foreign Commodities sold us at the cheapest with admission of Dutch Merchants and Shiping in common with the English by my own implication would effect My answer is That I cannot deny but this may be true if the present profit of the generality be barely and singly considered but this Kingdom being an Island the defence whereof hath alwayes been our Shiping and Sea-men it seems to me absolutely necessary that Profit and Power ought joyntly to be considered and if so I think none can deny but the Act of Navigation hath and doth occasion building and employing of three times the number of Ships and Sea-men that otherwise we shouâ—d or would do and that consequently If our Force at Sea were so greatly impared it would expose us to the receiving of all kind of Injuries and Affronts from our Neighbours and in conclusion render us a despicable and miserable People Objections to several Parts of the Act of Navigation Object 1. The Inhabitants and Planters of our Plantations in America say This Act will in time ruin their Plantations if they may not be permitted at least to carry their Sugars to the best Markets and not be compell'd to send all to and receive all Commodities from England I answer If they were not kept to the Rules of the Act of Navigation the consequence would be that in a few Years the benefit of them would be wholly lost to the Nation it being agreeable to the Policy of the Dutch Danes French Spaniards Portugals and all Nations in the World to keep their external Provinces and Colonies in a subjection unto and dependency upon their Mother-Kingdom and if they should not do so the Dutch who as I have said are Masters of the Field in Trade would carry away the greatest of advantage by the Plantations of all the Princes in Christendom leaving us and others only the trouble of breeding men and sending them abroad to cultivate the Ground and have Bread for their Industry Here by the way with entire submission to the greater Wisdom of those whom it much more concerns give me leave to Query Whether instead of the late prohibition of Irish Cattle it would not have been more for the benefit of this Kingdom of England to suffer the Irish to bring into England not only their live Cattle but also all other Commodities of the Growth or Manufacture of that Kingdom Custom free or on easie Customs and to prohibit them from Trading homeward or outward with the Dutch or our own Plantations or any other places except the Kingdom of England Most certainly such a Law would in a few Years wonderfully encrease the Trade Shiping and Riches of this Nation Query 2. Would not this be a good addition to the Act of Navigation and much encrease the employment of English Shiping and Sea-men as well in bringing from thence all the Commodities of that Country as supplying that Country with Deals Salt and all other foreign Commodities which now they have from the Dutch Que. 3. Would not this be a means effectually to prevent the Exportation of Irish Wool which now goes frequently into France and Holland to the manifest and great damage both of England and Ireland Que 4. Would not this be a Fortress or Law to secure to us the whole Trade of Ireland Que. 5. Would not this render that which now diminisheth and seems dangerous to the value of Lands in England viz. the growth of
Ireland advantagious by encrease of Trade and Shiping and consequently the power of this Kingdom Object 2. The second Ojection to part of the Act of Navigation is usually made by the Eastland and Norway Merchants who affirm that in effect their Trade is much declined since the passing the Act of Navigation and the Danes Sweeds Holsteners and all Easterlings who by the said Act may Import Timbâ—r and other Eastern Commodities have encreased in the number of their Shiping imployed in this Trade since our Act of Navigation at least two third parts and the English have proportionably declined in the number of theirs imployed in that Trade I answer That I believe the matter of Fact asserted is true as well as the cause assigned viz. the Act of Navigation and yet this should not make us out of love with that excellent Law rather let it put us upon contriving the Amendment of this seeming Defect or Inconvenience the Cure whereof I hope upon mature consideration will not be found difficult for which I humbly propound to the Wisdom of Parliament viz. That a Law be made to impose a Custom of at least 50 l. per Cent on all Eastland Commodities Timber Boards Pipe-Staves and Salt imported into England and Ireland upon any Ships but English built Ships or at least such only as are sailed with an English Master and at least three fourths English Marriners And that for these Reasons Reas. First If this be not done the Danes Sweedes and Easterlings will certainly in a few Years carry the whole Trade by reason of the difference of the charge of building a Ship fit for that Trade there or here viz. a Fly-boat of 300 Tuns new built and set to Sea for such a Voyage may cost there 13 or 1400 l. which here would cost from 22 to 2400 l. which is so vast a disproportion that it is impossible for an English man to coape with a Dane in that Navigation under such a discouragement to ballance which there is nothing but the Strangers duty which the Dane now pays which may come to 5 or 6 l per Ship per Voyage at most one with another which is incompitable with the difference of Price between the first cost of the Ships in either Nation And this is so evident to those who are conversant in those Trades that besides the decrease of our Shiping and encrease of theirs that hath already happened ours in probability had been wholly beaten out of the Trade and only Danes and Easterlings freighted had we been necessitated to build English Ships and had not been recruited on moderate Prices by Fly-boats being Ships proper for this Trade taken in the late Dutch War and by a further supply of Scotch Prizes likewise through his Majesties permission and indulgence Reas. 2. Because the number of Strangers Ships imployed in the aforesaid Trade yearly I estimtae to be about two hundred Sail which if such a Law were made must unavoidably be all excluded and the Employment fall wholly into English Hands which would be an excellent Nursery and give constant Maintenance to a brave number of English Sea-men more then we can or do employ at present Reas. 3. The Act of Navigation is now of seventeen or eighteen Years standing in England and yet in all these Years not one English Ship hath been built fit for this Trade the reason whereof is that before mentioned viz. that it is cheaper freighting of Danes and Easterlins and it being so and all men naturally led by their Profit it seems to me in vain to expect that ever this Law will procure the building of one English Ship fit for that employment till those Strangers are excluded this Trade for England and much more improbable it is that any should now be built than it was formerly when the Act was first made because Timber is now at almost double the price in England it was then The consequence whereof is That if timely Provision be not made by some additional Law when our old Stock of Flemish Prizes is worn out as many of them are already we shall have very few or no Ships in this Trade The Objections which I have heard made to this Proposition are viz. Object 1. If such an Imposition be laid on those gross Commodities imported by Strangers Ships that will amount to the excluding all Strangers from this Trade we shall want Ships in England to carry on the Trade and so the Commodity will not be had or else will come very dear to us I answer â—f the Commodity should be somewhat dearer for the present it would be no loss to the Nation in general because all Freight would be paid to English men whereas the freight paid to Strangers which upon thâ—se Commodities is commonly as much or more then the value of Goods is all clear loss to the Nation 2 dly If there should be a present want of Shiping and the Parliament shall please to enjoyn us to build English Ships for this Trade This extraordinary good Effect will follow viz. It will engage us to do that we never yet did viz. To fall to building of Fly-boats gâ—eat Ships of burthen of no force and small charge in sailing which would be the most profitable undertaking that ever English men were engaged in and that which is absolutely necessary to be don if ever we intend to board the Dutch in their Trade and Navigation these Fly-boats being the Milch-Cows of â—olland from which they have suckâ—d manifoldlâ— greater Profit than from all their Ships of force though both I know are necessary But if at first the Parliament shall think fit to enjoyn us only to Ships sailed with an Enlish Master and three fourths English Marriners the Danes and Easterlins being by this means put out of so great an Employment for their Shiping we shall buy Ships proper for this Trade on easie terms of them perhaps for half their cost which under value in purchase will be a present clear profit to England Object 2. If this be done in England may not other Princes account it hard and unreasonable and consequently Retaliate the like upon us To answer this Objection its necesary to enquire what Kingdom and Counâ—ry will be concerned in this Law 1 st Then Italy Spain and Portugal will be wholly unconcerned 2 dly So will France who if they were concerned can take no offence while they lay an Imposition of 50 or 60 per Cent upon our Drapery 3 dly The Dutch and Hamburgers would not by such additional Law be more excluded then now they are and the latter would have an advantage by it in case the Danes should as it may be supposed they will lay a Tax upon our Shiping there for the consequence thereof would be that much of those kind of Commodities we should fetch from Hambrough where they are plentifully to be had though at a little dearer Rate and yet not so dear but that the Dutch fetch Yearly thence 350
the useful Stock of the Nation at least one third part and greatly â—ase the course of Trade as I humbly conceive this will do I hope none will deny but it may consist with the Wisdom of Parliament to create new Laws 3. Most of our Statutes were made in times before we understood Trade in England and the same Policy and Laws that were good then and may yet be good for a Country destitute of Commerce may not be so fit for us now nor for any Nation so abounding with Trade as England doth at present Object 2. May not this occasion many Cheats and Law Suites Answ. 1. I answer no Experience manifests the contrary not only in other Kingdoms and Countries abroad where Transferrance of Bills of Debt is in use but even in our own where we have for many Ages had the Experience of Indorsment on Bills of Exchange and in this present Age of the passing of Gold-Smiths Notes from one Man to another which two practices are very like to the designed way of Transferring Bills of Debt and yet no considerable Cheats or Inconveniencies have arisen thereby Answ. 2. No Man can be Cheated except it be with his own consent and we commonly say caveat emptor no Man is to be forced to accept anothers Bill that himself doth not approve of and no Man will accept of another Mans Bill except he know him or until he hath used means to satisfie himself concerning him no more then he will sell his Goods to a Stranger unless he hath some reason to believe he is able to pay him Object 3. Will not such a Law as this be very troublesom especially in Fairs and Markets and also to Gentlemen and Ladies when they shall be forced for all Goods they buy above the value of 10 l. to give Bills under their Hand and Seals I answer this Law will not at all Incomode Gentlemen as to what they Buy in Shops c. neither those that converse in Fairs and Markets for that which Gentlemen Buy in Shops c. and others in Fairs c. they either pay or promise ready Money or else say nothing of the time or payment which the Law understands to be the same with a promise of present pay so that if they give no Bills there is no penalty attends the neglect or refusal but only that the contract between the Buyer and Seller shall be presumed in the Law to be as if it were made for ready Money CHAP. VI. Concerning a Court Merchant I Have conceived great hope from the late most Prudent and Charitable Institution of that Iudicature for determination of Differences touching Houses Burned by the late Fire in London that this Kingdom will at length be blessed with a happy method for the speedy easie and cheap deciding of Differences between Merchants Masters of Ships and Seamen c. by some Court or Courts of Merchants like those which are established in most of the great Cities and Towns in France Holland and other places the want whereof in England is and hath ever been a great bar to the Progress and Grandure of the Trade of this Kingdom as for instance if Merchants happen to have differences with Masters and Owners of Ships upon Charter-parties or Accounts beyond Sea c. The Suite is commonly first commenced in the Admiralty Court where after tedious Attendance and vast Expences probably just before the Cause should come to Determination it is either removed into the Deligates where it may hang in suspence until the Plantiff and Defendant have empty purses and grey Heads or else because most Contracts for Martain Affairs are made upon the Land and most Accidents happen in some Rivers or Harbours here or beyond Sea are not in alto mari The Defendant brings his Writ of Prohibition and removes the Cause into his Majesties Court of King's-Bench where after great Expences of Time and Money it is well if we can make our own Council being common Lawyers understand one half of our Case we being amongst them as in a Foreign Country our Language strange to them and theirs as strange to us after all no Attestations of Foreign Notaries nor other publick Instruments from beyond Sea being Evidences at Law and the Accounts depending consisting perhaps of an hundred or more several Articles which are as so many Issues at Law the Cause must come into the Chancery where after many Years tedious Travels to Westminster with black Boxes and green Bags when the Plantiff and Defendant have tired their Bodies distracted their Minds and consumed their Estates the Cause if ever it be ended is commonly by order of that Court referred to Merchants ending miserably where it might have had at first a happy issue if it had begun right From whence follows these National Inconveniencies 1. It is a vast Expence to the Persons concerned 2. It takes off Men from following their Callings to the Publick loss as well as the particular Damages of the concerned that time being lost to the Nation that is spent in Law-Suits 3. It makes Men after they have once attained indifferent Estates to leave Trading and for ease to turn Country-Gentlemen whereas great and experienced Men are the only Persons that must mate the Dutch in Trade if ever we do it 4. It is my opinion a great cause of the Prodigality Idleness and Injustice of many of our Masters of Ships in England and consequently a wonderful bar to the growth of our English Navigation who knowing that their Owners cannot legally eject them especially if the Master have a part of the Ship himself but that Remedy to the Owners will be worse then the Disease which occasions Masters to presume to do those things and be guilty of such neglects as naturally they would not if they stood more upon their good behaviour I could say much more of the Damage this Nation sustains by the want of a Law-Merchant but that is so evident to all Mens Experience that I shall not longer insist upon it but proceed humbly to propose some particulars which being duely considered may peradventure by wiser Heads be improved towards the cure of this evil viz. 1. That it be Enacted that there shall be erected within the City of London a standing Court-Merchant to consist of twelve able Merchants such as shall be chosen by the Livery Men of the said City in their common Hall at the time and in the manner herein after limitted and appointed 2. That the said twelve persons so to be Elected or any three or more of them sitting at the same time and place and not otherwise shall be accounted Iudiciary Merchants and Authorized to hear and determine all Differences and Demands whatsoever which have arisen and are not hitherto determined or may any ways arise between Merchants Trades-Men Artificers Masters and Owners of Ships Sea-Men Boat-Men and Freighters of Ships or any other Persons having relation to Merchandizing Trade or Shiping for or concerning any
in the out-parts of London Upon this point of Naturalization many men make a great doubt whether it be for publick good to permit the Iews to be Naturalized in common with other Strangers Those that are against their admission who for the most part are Merchants urge these Reasons 1. They say the Iews are a subtil People prying into all kind of Trades and thereby depriving the English Merchant of that Profit he would otherwise gain 2. They are a penurious People living miserably and therefore can and do afford to trade for less profit then the English to the prejudice of the English Merchant 3. They bring no Estates with them but set up with their Pens and Ink only and if after some few Years they thrive and grow rich they carry away their Riches with them to some other Country being a People that cannot mix with us which Riches being carried away is a publick loss to this Kingdom Those that are for the admission of the Iews say in answer to the aforesaid Reasons viz. 1 st The subtiller the Iews are and the more Trades they pry into while they live here the more they are like to encrease Trade and the more they do that the better it is for the Kingdom in general though the worse for the English Merchant who comparitively to the rest of the People of England is not one of a thousand 2 dly The thriftier they live the better Example to our people there being nothing in the World more conducing to enrich a Kingdom then thriftiness 3 dly It is denyed that they bring over nothing with them for many have brought hither very good Estates and hundreds more would do the like and settle here for their Lives and their Posterities after them if they had the same Freedom and Security here as they have in Holland and Italy where the grand Duke of Tuscanâ—y and other Princes allow them not only perfect Liberty and Security but give them the priviledge of making Laws among themselves and that they would reside with us is proved from the known Principles of Nature viz. Principle 1. All men by Nature are alike as I have before demonstrated and Mr Hobbs hath truly asserted how Erroneous soever he may be in other things Princip 2. Fear is the cause of Hatred and hatred of separation from as well as evil Deeds to the Parties or Government hated when opportunity is offered This by the way shews the difference between a bare connivence at Dissenters in matters of Religion and a toleration by Law the former keeps them continually in Fear and consequently apt to Sedition and Rebellion when any probable occasion of success presents The latter disarms cunning ambitious minded men who wanting a popular discontented Party to work upon can effect little or nothing to the prejudice of the Government And this methinks discovers clearly the Cause why the Lutherans in Germany Protestants in France Greeks in Turkey and Sectaries in Holland are such quiet peaceable-minded-men while our Non-Conformists in England are said to be enclinable to Strife War and Bloodshed Take away the Cause and the Effect will cease While the Laws are in Force against men they think the Sword hangs over their Heads and are always in fear though the Execution be suspended not knowing how soon Councils or Counsellors Times or Persons may change it is only Perfect Love that casts out Fear and all men are in love with Liberty and Security It cannot be denyed that the industrious Bees have Stings though Drones have not yet Bees sting not except those that hurt them or disturb their Hives It is said the Iews cannot Intermarry with us and therefore it cannot be supposed they will reside long amongst us although they were treated never so kindly why not reside here as well as in Italy Poland or Holland they have now no Country of their own to go to and therefore that is their Country and must needs be so esteemed by them where they are best used and have the greatest Security CHAP. VIII Concerning Wool and Woollen Manufactures THat Wool is eminently the Foundation of the English Riches I have not heard denyed by any and that therefore all possible means ought to be used to keep it within our own Kingdom is generally confessed and to this purpose most of our modern Parliaments have strenuously endeavoured the contriving of severe Laws to prevent its Exportation and the last Act made it Felony to Ship out Wool Woolfels c. Notwithstanding which we see that English and Irish Wool goes over so plentifully that it is within a very small matter as cheap in Holland as in England The means to prevent this Evil by additional Penal Laws and alterations of some of those now in being were long under debate by his Majesties command in the Couâ—cil of Trade who according to their duty took great pains therein and since I have been informed the same things were under consideration in Parliament so that I doubt not but in due time we shall see some more effectual Laws enacted to this purpose as well in relation to Ireland from whence the greatest of this mischief proceeds as in England then ever yet have been yet I do utterly despair of ever seeing this Disease perfectly cured till the Causes thereof be removed which I take to be 1st Heighth of Interest in England which an Abatement by Law to 4 per Cent would cure 2dly Want of Hands which an Act of Naturalization would cure 3dly Compulsion in matters of Religion which some relaxation of the Ecclesiastical Laws I hope would effectually cure For while our Neighbours through the cheap valuation of their Stocks can afford to trade and disburse their Monies for less profit then we as hath been I think sufficiently demonstrated by the fore-going Discourse and have more Hands to employ then we by reason of the large Immunities and Priviledges they give both to Natives and Foreigners there is no question but they will be able to give a better Price for our Wool than we can afford our selves and they that can give the best price for a Commodity shall never fail to have it by one means or other notwithstanding the opposition of any Laws or interposition of any Power by Sea or Land of such force subtilty and violence is the general course of Trade Object But some may say and take it as well from what I have writ elsewhere as from their own Observations Will not the well-making of our Woollen-Manufactures contribute much to the keeping of our Wool naturally within our own Kingdom I answer Doubtless it will have a great tendency thereunto but can never effect it till the aforesaid Radical Causes of this Disease be removed which brings me to the next Question viz. What will improve our Woollen-Manufactures in quality and quantity This is a very great Question and requires very deliberate and serious Consideration but I shall write my present Thoughts concerning it
desiring those Gentlemen's pardon from whom I may differ in Opinion having this to say for my self that I do it not rashly this being a business that I have many Years considered of and that not solitarily but upon converse with the most skilful men in our several English Woollen Manufactures 1. Then I say Those three fore-mentioned Particulars which will naturally keep our Wool at home will as naturally encrease our Woollen-Manufactures 2. Negatively I think that very few of our Laws now in force to this purpose though our Statute-Books are replenished with many have any tendency thereunto nor any thing I have yet seen in Print For 1 st All our Laws relating to the Aulnegeors duty every body knows signifie nothing to the encrease or well-making our Manufactures but are rather chargeable and prejudicial 2 dly All our Laws that oblige our People to the making of strong substantial and as we call it Loyal Cloth of a certain length breadth and weight if they were duly put in Execution would in my opinion do more hurt than good because the Humors and Fashâ—ons of the World change and at sometimes in some places as now in most slight cheap light Cloth will sell more plentifully and better than that which is heavier stronger and truer wrought and If we intend to have the Trade of the World we must imitate the Dutch who make the worst as well as the best of all Manâ—factures that we may be in a capacity of serving all Markets and all Humors 3 dly I conclude all our Laws limitting the number of Loomes numbered or kind of Servants and Times of working to be certainly prejudicial to the cloathing of the Kingdom in general though they be advantagious to some particular Men or Places who first procured those Laws of Restriction and Limitation 4 thly I think all those Laws are Prejudicial that prohibit a Weaver from being a Fuller Tucker or Dyar or a Fuller or Tucker from keeping a Loome 5 thly I conculde that stretching of Cloth by Tentors though it be sometimes prejudicial to the Cloth is yet absolutely necessary to the Trade of England and that the excess of straining cannot be certainly limitted by any Law but must be lâ—ft to the Sellers or Exporters discretion who best knows what will please his Customers beyond the Seas besides if we should wholly prohibit straining of Cloth the Dutch as they have often done would buy our unstrained Cloth and carry it into Holland and there strain it to six or seven Yards per piece more in length and make it look a little better to the Eye and after that carry it abroad to Turkey and other Markets and there beat us out of Trade with our own Weapons But some may then ask me Whether I think it would be for the advantage of the Trade of England to leave all men at liberty to make what Cloth and Sâ—uffs they please how they will where and when they will of any lengths or sizes I answer Yes certainly in my judgment it would be so except such Species only as his Majesty the Parliament shall think fit to make Staples as suppose Colchester Bayeâ— Perpetuanoes Cheanyes and some other sorts of Norwich Stuffs to be allowed the honour of a publick Seal by which to be bought and sold here and beyond Seas as if it were upon the publick Faith of England and where-ever such Seal is allowed or shall be thought fit to be affixed to any Commodity I would desire the Commodity should be exactly made according to the Institution and always kept to its certain length breadth and goodness But in case any shall make of the said Commodities worse then the Institution I think it would be most for the publick advantage to impose no Penalty upon them but only deny them the benefit and reputation of the publick Seal to such Bayes or Stuffs as shall be so insufficient which in my opinion would be punishment 〈…〉 those that should make worse than thâ— Standard and advantage enough to those that should keep to it 2. For all Cloth and Stuffs not being made Staples I think it would be of very great use that the Makers did weave in their Marks and affix their own Seals containing the length and breadth of the Pieces as hath been provided in some Statutes and that no Maker under severe Penalties shall use another Mark or Seal with such Penalty to every marker or seller whose Cloth or Stuffs shall not contain the length and breadth set upon the Seal as his Majesty and the Parliament shall think sit 3. If the makers of all Stuffs whatsoever for Exportation whether Sâ—aples or not which are commonly sold by the Piece and not by the Yard or Ell were obliged to make them no shorter than antiently they have been made the particular lengths of each sort whereof might be provided for and expressed in the Act this good effect would follow upon it viz. At all foreign Markets where we pay a great Custom by the Piece according to the Books of Rates currant in the several Countries we should pay but the same Custom abroad for a piece of full length which now we do for one that iâ— shorter Notwithstanding I conceive it would be expedient to leave it to the makers discretion to make their pieces as much longer as they please CHAP. IX Concerning the Ballance of Trade THat the Greatness of this Kingdom depends upon Foreign Trade is acknowledged and therefore the Interest of Trade not unbecoming Persons of the highest Rank and of this Study as well as others it may be said there 's an infinite in it none though of the largest Intelects and Experience being able to fathom its utmost depth Among other things relating to Trade their hath been much discourse of the Ballance of Trade the right understanding whereof may be of singular use and serve as a Compass to Stear by in the Contemplations and Propagation of Trade for publick Advantage The Ballance of Trade is commonly understood two ways 1. Generally something whereby it may be known whether this Kingdom gaineth or loseth by Foreign Trade 2. Particularly something whereby we may know by what Trades this Kingdom gaines and by what Trades it loseth For the first of these It is the most general received opinion and that not ill grounded that this Ballance is to be taken by a strict Scrutiny of what proportion the value of the Commodities exported out of this Kingdom bear to those Imported and if the Exports exceeds the Imports it is concluded the Nation gets by the general course of its Trade it being supposed that the over-plush is Imported in Bulloin and so adds to the Treasure of the Kingdom Gold and Silver being taken for the measure and standard of Riches 2. This Rule is not only commonly applyed to the general course of Foreign Trade but to particular Trades to and from this Nation to any other Now although this notion have much of
answer Yes certainly there is Quest. 2. His Lordships second question was May not a private Merchant be or seem to be owner of much Shiping drive a great Trade receive and send out many Goods and yet decline and grow poorer notwithstanding all his tumbling and busseling I answer Yes certainly he may but this will soon appear either while he lives or at his Death and his great Trade will come to be but a small one or none at all But that man who drives a great Trade and is owner or employer of much Shiping and doth all his dayes continue and encrease in Trade and Shiping and his Son or Successor after him and after him his Grand Son c. this would be an indisputable Evidence that that Person or Family did thrive by their Trade for if they had not thriven their Trade would not have long continued muchless encreased This is the case of Nations and this through God's goodness is the case of England as bad as we are at present The reason of this is as evident as the first for where a great Trade is driven especially where much Shiping is employed whatever becomes of the poor Merchant that drives the Trade Multitudes of People will be certain gainers as his Majesty and his Officers of Custom besides Shipwrights Butchers Brewers Bakers Rope-makers Porters Sea-men Manufacturers Car-men Lighter-men and all other Artificers and People that depend on Trade and Shiping which indeed more or less the whole Kingdom doth But it may be said again If this encrease of Trade depend upon and proceed from our ordinary Importations for which our ready Money goes out it will impoverish us I answer In some cases it may be so and in some cases as I have already demonstrated it may be otherwise but that will best be known by the effects for if we are impoverished our general Trade and our Shiping will necessarily and visibly grow less and less and must rationally and unavoidably do so for that being impoverished we shall lose our Tools our Stock to drive a great Trade with whereas on the contrary if our Trade in the gross bulk of it though we may decline in some do still encrease especially our Shiping for a long tract of Years it is infallible proof of our thriving by our Trade and that we are still getting more Tools more Stock to trade with Some there are would limit this discovery to the encrease and dimunition of our Coin and Bulloin but because that is more secret and indiscernable it cannot I conceive afford so clear a demonstration as the other if any at all for that Money seems to vulgar Observers most plentiful when there is least occasion for it and on the contrary more scarce as the occasions for the employment thereof are more numerous and advantagious according to which we should seem to have most Money when we have the least Trade and yet then certainly the Nation gets least this is apparent to those that will observe that when the East-India-Company have a great sale to make then Money is generally found to be scarce in London not that is so in reality more then at other times but because that extraordinary occasion engageth men to employ quantities which they provide and lay aside for that purpose from the same reason it is that a high rate of Usury makes Money seems scarce because every man then as soon as he can make up a small sum sends it into the Goldsmiths whereof more is said before in the Preface to this discourse I answer that though the Study of the Ballance of Trade in this last mentioned respect be a Study very Ingenious and Commendable yet in my poor opinion the enquiry whether we get or lose doth not so much deserve our greatest pains and care as how we may be sure to get the former being of no use but in order to the latter and this therefore leads to the Consideration of the other Ballance of Trade as most usefull and necessary viz. What is to be done in England to improve the Trade thereof to such a degree as to equalize or over-ballance our Neighbours in our National Profit by our Foreign Trade I answer this is a large and extensive Question and requires to resolve it the greatest Skill and Experience both in affairs of State and Trade and therefore I have only made an Essay towards it which the whole Discourse fore-going is and therefore I hope the Reader will accept of my good Affection to my Country herein though he meet not with that full satisfaction he might expect and wish foâ— The method I propose for the further answering of this great Question is following my own principle that if Trade be great and much English Shiping employed it will be good for the Nation in general whatever it may be for private Merchants First to lay down some general Rules for the enlargement of Trade in England and then some ways of reducing those general Rules into Use and Practice the general Rules for the enlargement of Trade are not many 1. Encrease Hands in Trade 2. Encrease Stock in Trade 3. Make Trade easie and ncessary i. e. make it our Interest to Trade 4. Make it the Interest of other Nations to Trade with us 1. To encrease Hands in Trades the following Particulars would much contribute 1st An Act of Naturalization before-mentioned 2. Some enlargement of the Foundations of Societies of Merchants as before-limitted 3. A more easie and free admission of Inhabitants Merchants and Artificers to be Burgers of our Cities and Bouroughs 4. Not to hinder any Man from keeping as many Servants as he can nor Loomes working-Tooles c. 5. To abate the Interest of Money as afore-said 6. Some Relaxation of the Ecclesiastical Laws would keep our own People at Home and invite others to us and consequently encrease the number of our Hands in Trade 7. Employ Educate and Relieve the Poor so as they may neither be Idle nor perish for Want or leave the Land by Reason of their Miseries 8. Giving such Honour and Perferment to Merchants in the Affairs of the Nation as their Experience Education hath fitted them for will doubtless encrease their number Te encrease our Stock in Trade 1. All the six fore-going particulars will very much contribute especially the Abatement of Interest because bringing in of more Stock for that the persons engaged in Trade must necessarily bring in their Stocks with them if they have any and for Artiâ—icers that have none their Labour in consequence will generate Stock to the Nation and encrease that we have already 2. A Law for Transferrance of Bills of Debt as before-mentioned will much and speedily augment our useful Stock 3. The restraining of the Trades of our own Plantations wholly to England and preventing all kind of abuses of that part of the Acts of Trade and Navigation would tend much to the encrease of our Stock in Trade 4. The securing
English Cloth and from whose Territories we receive great quantities of Currance purchased with our ready Money It seems to me advantagious for England that that Importation as well as the Importation of wrought-Glasse drinking-Glasses and other Manufactures from thence should be discouraged it being supposed we can now make them as well our selves in England The Trade for Cannary-Wines I take to be a most pernitious Trade to England because those Islands consume very little of our Manufactures Fish or other English Commodities neither do they furnish us with any Commodities to be further Manufactured here or re-Exported the Wines we bring from thence being for the most part purchased with ready Money so that to my apprehension something is necessary to be done to compel those Islanders to spend more of our English Commodities and to sell their Wines cheaper which every Year they advance in Price or else to lessen the Consumption of them in England I have in this last Discourse of the Ballance of Trade as well as in my former confined my self to write only general Heads and Principles that râ—late unto Trade in general not this or that particular Trade because the several Trades to several Countries may require distinct and particular considerations respecting the time place competitors with us and other circumstances to find out wherein our advantages or disadvantages lie and how to improve the former and prevent the latter but as this would be too great a Work for one Man so I fear it would make this too great a Book to be well read and considered But in the Preface to this Treatise I have briefly mentioned many particular Trades that we have lost and are loosing and by what means and many Trades that we yet retain and are encreasing and how it happens to be so which may give some Light to a clearer Discovery and Inspection into particular Trades unto which Ingenious Men that have Hearts to serve their Country in this so necessary Work at this time may add and further improve by the advantage of Abilities to express their Sentiments in a more Intelligible and Pausible Stile but when I and others have said all we can A low Interest is as the Soul to the Body of Trade it is the Sine qua non to the Prosperity and Advancement to the Lands and Trade of England CHAP. X. Concerning PLANTATIONS THE Trade of our English Plantations in America being now of as great Bulk and â—mploying as much Shiping as most of the Trades of this Kingdom it seems not unnecessary to Discourse more at large concerning the Nature of â—lantations and the good or evil consequences of tâ—em in relation to this and other Kingdoms and the rather because some Gentlemen of no mean Capacities are of Opinion that his Majestie 's Plantations abroad have very much prejudiced this Kingdom by draining us of our People for the confirmation of which Opinion they urge the Example of Spain which they say is almost ruined by the Depopulation which the West-Indies hath occasioned to the end therefore a more particular Scrutiny may be made into this maâ—ter I shall humbly offer my Opinion in the following Propositions and then give those Reasons of Probability which presently occur to my Memory in confirmation of each Proposition 1. First I agree That Lands though excellent without Hands proportionable will not enrich any Kingdom 2. That whatever tends to the Dâ—populating of a Kingdom tends to the â—mpoverishment of it 3. Tâ—at most Nations in the civilized Parts of the World are more or less Rich or Poor proportionably to the Paucity or Plenty of their People and not to the Sterility or Fruitfulness of their Landâ— 4. I do not agree that our People in England are in any considerable measure abated by reason of our Foreign Plantations but propose to prove the contrary 5. I am of Opinion that we â—ad immediately before the late Plague many more People in England then we had before the Inhabiting of Virginia New-England â—â—rbadoes and the rest of our American Plantations 6. That all Colonies or Plantations do endamage their Mother-Kingdoms whereof the Trades of such Plantations are not confined by severe Laws and good executions of those Laws to the Mother-Kingdom 7. That the Dutch will reap the greatest advantage by all Colonies issuing from any Kingdom of Europe whereof the Trades are not so strictly confined to the proper Mother-Kingdoms 8. That the Dutch though they thrive so exceedingly in Trade will in probability never endamage this Kingdom by the growth of their Plantations 9. That neither the French Spaniard nor Portugeez are much to be feared on that account not for the same but for other causes 10. That it is more for the advantage of England that New-found-Land should remain Vnplanted then that Colonies should be sent or permitted to go thither to Inhabit with a Governour Laws c. 11. That new-New-England is the most prejudicial Plantation to the Kingdom of England I. That Lands though in their Nature excellently good without Hands proportionable will not enrich any Kingdom This first Proposition I suppose will readily be assented to by all judicious persons and therefore for the proof of it I shall only alledge matter of Fact The Land of Palestine once the Richest Country in the Vniverse since it came under the Turks Domâ—nion and consequently unpeopled is now become the Poorest Andaluzia and Granada formerly wonderful Rich and full of good Towns since dis-peopled by the Spaniard by Expultion of the Moors many of their Towns and brave Country Houses are fallen into Rubbish and their whole Country into miserable Poverty though their Lands naturally are prodigiously Fertil A Hundred other Instances of Fact might be given to the like purpose II. Whatever tends to the populating of a Kingdom tends to the emprovement of it The former Proposition being granted I suppose this will not be denyed and of the means viz. good Laws whereby any Kingdom may be populated and consequently enriched is in effect the substance and design of all my foregoing Discourse to which for avoiding repitition I must pray the Reader 's retrospection III. That most Nations in the civilized parts of the World are more or less Rich or Poor propoâ—tionable to the paucity or plenty of their People This third is a consequent of the two former Propositions and the whole World is a witness to the Truth of it The seven united Provinces are certainly the most populous tract of Land in Christendom and for their bigness undoubtedly the richest England for its bigness except our Forrests Wastes and Commons which by our own Laws and Customs are bared from Improvement I hope is yet a more populous Country than France and consequently richer I say in proportion to its bigness Itaâ—y in like proportion more populous than France and richer and France more populous and rich than Spain c. IV. I do not agree that our People in England are in any considerable
measure abated by reason of our foreign Plantations but propose to prove the contrary This I know is a controverted Point do believe that where there is one man of my mind there may be a thousand of the contrary but I hope when the following Grounds of my Opinion have been throughly examined there will not be so many Dissenters That very many People now go and have gone from this Kingdom almost every Year for these sixty Years past and have and do settle in our foreign Plantations is most certain But the first Question will be Whether if England had no foreign Plantations for those People to be transported unto they could or would have stayed and lived at home with us I am of Opinion they neither would nor could To resolve this Question we must consider what kind of People they were and are that have and do transport themselves to our foreign Plantations New-England as every one knows was originally inhabitated and hath since successively been replenisht by a sort of People called Puritans which could not conform to the Ecclesiastical Laws of England but being wearied with Church Censures and Persecutions were forced to quit their Fathers Land to find out new Habitations as many of them did in Germany and Holland as well as at New-England and had there not been a New-England found for some of them Germany and Holland probably had received the rest But Old England to be sure had lost them all Virginia and Barbadoes were first peopled by a sort of loose vagrant People vicious and destitute of means to live at home being either unfit for labour or such as could find none to employ themselves about or had so mis-behaved themselves by Whoreing Thieving or other Debauchery that none would set them on work which Merchants and Masters of Ships by their Agents or Spirits as they were called gathered up about the Streets of London and other places cloathed and transported to be employed upon Plantations and these I say were such as had there been no English foreign Plantation in the World could probably never have lived at home to do Service for their Country but must have come to be hanged or starved or dyed untimely of some of those miserable Diseases that proceed from want and Vice or else have sold themselves for Soldiers to be knockt on the Head or starved in the Quarrels of our Neighbours as many thousands of brave English men were in the low Countries as also in the Wars of Germany France and Sweeden c. or else if they could by begging or otherwise arrive to the Stock of 2 s. 6 d. to waft them over to Holland become Servants to the Dutch who refuse none But the principal growth and encrease of the afore-said Plantations of Virginia and Barbadoes happened in or immediately after our late Civil Wars when the worsted party by the fate of War being deprived of their Estates and having some of them never been bred to labour and other made unfit for it by the lazy habit of a Soldiers life there wanting Means to maintain them all abroad with his Majesty many of them betook themselves to the afore-said Plantations and great numbers of Scotch Soldiers of his Majesty's Army after Worcester Fight were by the then prevailing Powers voluntarily sent in thither Another great swarm or accession of new Inhabitâ—nts to the afore-said Plantations as also to New-England Iamaica and all other his Majesties Plantations in the West-Indies ensued upon his Majesties Restauration when the former prevailing party being by a divine Hand of Providence brought under the Army disbanded many Officers dis-placed and all the new purcharsers of publick Titles dispossest of their pretended Lands Estates c. many became impoverished dâ—stitute of employment and therefore such as could find no way of living at home and some which feared the re-establishment of the Ecclesiastical Laws under which they could not live were forced to transport themselves or sell themselves for a few Years to be transported by others to the foreign English Plantations The constant supply that the said Plantations have since had hath by such vagrant loose People as I before-mentioned picked up especially about the Streets and Suburbs of London and Westminster and by Malefactors condemned for Crimes for which by the Law they deserved to dye and some of those People called Quakers banished for Meeting on pretence of Religious Worship Now if from the Premises it be duly considered what kind of Persons those have been by which our Plantations have at all times been replenished I suppose it will appear that such they have been and under such Circumstances that if his Majesty had had no foreign Plantations to which they might have resorted England however must have lost them To illustrate the truth whereof a little further let us consider what Captain Graunt the ingenious Author of the Observations upon the Bills of Mortality saith pag. 76. and in other places of his Book concerning the City of London and it is not only said but undeniably proved viz. That the City of London let the Mortality be what it will by Plague or otherwise repairs its Inhabitants once in two Years And pag. 101. again If there be encouragement for a hundred Persons in London that is a way how a hundred may live better then in the Country the evacuating of a fourth or third part of that number must soon be supplied out of the Country who in a short time remove themselves from thence hither so long until the City for want of receipt and encouragement regurgitates and sends them back 1. What he hath proved concerning London I say of England in general and the same may be said of any Kingdom or Country in the World Such as our employment is for People so many will our People be and if we should imagin we have in England employment but for one hundred People and we have born and bred amongst us one hundred and fifty People I say the fifty must away from us or starve or be hanged to prevent it whether we had any foreign Plantations or not 2. If by reason of the accommodation of living in our foreign Plantations we have evacuated more of our People then we should have done if we had no such Plantations I say with the aforesaid Author in the case of London and if that Evacuation be grown to an excess which I believe it never did barely on the account of the Plantations that decrease would procure its own Remedy for much want of People would procure greater Wages and greater Wages if our Laws gave encouragement would procure us a supply of People without the charge of breeding them as the Dutch are and always have been supplied in their greatest Extremities Object But it may be said Is not the Facility of being transported into the Plantations together with the enticing Methods customarily used to perswade People to go thither and the encouragement of living there
with a People that speak our own Language strong Motives to draw our People from us and do they not draw more from us then otherwise would leave us to go into foreign Countries where they understand not the Language I Answer 1 st It is not much more difficult to get a passage to Holland than it is to our Plantations 2 dly Many of those that go to our Plantations if they could not go thither would and must go into foreign Countries though it were ten times more difficult to get thither then it is or else which is worse as hath been said would adventure to be hanged to prevent begging or starving as too many have done 3. I do acknowledge that the facility of getting to the Plantaâ—ions may cause some more to leave us than would do if they had none but foreign Countries for refuge But then if it be considered that our Plantations spending mostly our English Manufactures and those of all sorts almost imaginable in egregious quantities and employing near two thirds of all our English Shiping do therein give a constant Sustenance to it may be two hundred thousand Persons here aâ— home then I must needs conclude upon the whole matter that we have not the fewer but the more People in England by reason of our English Plantatioâ—s in America Object 2. But it may be said Is not this inferring and arguing against Sence and Experience Doth not all the World see that the many noble Kingdoms of Spain in Europe are almost depopulated and ruinated by reason of their Peoples flocking over to the West-Indies And do not all other Nations diminish in people after they become possessed of foreign Plantations Ans. 1. I answer With submission to better Judgments that in my opinion contending for Vniformity in Religion hath contributed ten times more to the depopulating of Spain then all the American Plantations What was it but that which caused the expulsion of so many thousand Moores who had built and inhabited most of the chief Cities and Towns in Andaluzia Granada Aragon and oother parts What was it but that and the Inquisition that hath and doth daily expel such vast numbers of rich Iews with their Families and Estates into Germany Italy Turkey Holland and England What was it but that which caused those vast and long Wars between that King and the low Countries and the effusion of so much Spanish Blood and Treasure and the final loss of the seven Provinces which we now see so prodigious rich and full of People while Spain is empty and poor and Flanders thin and weak in continual fear of being made a prey to their Neighbours 2. I answer We must warily distinguish between Country Country for though Plantations may have drained Spain of People it does not follow that they have or will drain England or Holland because where Liberty and Property are not so well preserved and where Interest of Money is permitted to go at 12 per Cent there can be no considerable Manufacturing and no more of Tillage and Grazing than as we Proverbially say will keep Life and Soul together and where there is little Manufacturing and as little Husbandry of Lands the profit of Plantations viz. the greatest part thereof will not redound to the Mother-Kingdom but to other Countries wherein there are more Manufactures and more Productions from the Earth from hence it follows Plantations thus managed prove drains of the People from their Mother-Kingdom whereas Plantations belonging to Mother-Kingdoms or Countries where Liberty and Property is better preserved and Interest of Money restrained to a low rate the consequence is that every person sent abroad with the Negroes and Utensils he is constrained to employ or that are employed with him it being customary in most of our Islands in America upon every Plantation to employ eight or ten Blacks for one White Servant I say in this case we may reckon that for Provisions Clothes and Houshold-Goods Sea-men and all others employed about Materials for building fitting and victualling of Ships Every English man in Barbadoes or Jamaica creates employment for four men at home 3 dly I answer That Holland now sends as many and more people yearly to reside in their Plantations Fortresses and Ships in the East-Indies besides many into the West-Indies than Spain and yet is so far from declining in the Number of their people at home that it is evident they do monstruously encrease and so I hope under the next Head to prove that England hath constantly encreased in People at home since our settlement upon Plantations in America although not in so great a proportion as the Dutch V. I am of Opinion that we had immediately before the late Plague more People in England than we had before the inhabiting of New-England Virginia Barbadoes c The proof of this at best I know can but be conjectural but in confirmation of my Opinion I have I think of my mind the most industrious English Calculator this Age hath produced in publick viz. Captain Graunt in the fore-mentioned Treatise pag. 83. his words are Vpon the whole matter we may therefore conclude that the people of the whole Nation do encrease and consequently the decrease of Winchester Lincoln and other like places must be attributed to other Reasons then that of refurnishing London only 2. It is manifest by the afore-said worthy Author's Calculations that the Inhabitants of London and parts ajacent have encreased to almost double within this sixty Years and that City hath usually been taken for an Index of the whole I know it will be said that although London have so encreased other parts have as much diminished whereof some are named before but if to answer the diminution of Inhabitants in some particular places it be considered how others are encreased viz Yarmouth Hull Scarbrough and other Ports in the North as also Liverpoole Westchester and Bristol Portsmouth Lime and Plimouth and withal if it be considered what great Improvements have been made these last sixty Years upon breaking up and enclosing of Wastes Forrests and Parks and draining of the Fenns and all those places inhabited and furnished with Husbandry c. then I think it will appear probable that we have in England now at least had before the late Plague more People then we had before we first entred upon foreign Plantations notwithstanding likewise the great Numbers of men which have issued from us into Ireland which Country as our Laws now are I reckon not among the number of Plantations profitable to England nor within the limits of this discourse although peradventure something may be pickt out of these Papers which may deserve consideration in relation to that Country But it may be said If we have more People now thâ—n in former Ages how came it to pass that in the times of King Henry the fourth and fifth and other times formerly we could raise such great Armies and employ them in foreign Wars and
yet retain a sufficient number to defend the Kingdom and cultivate our Lands at home I answer first The bigness of Armies is not alwayes a certain Indication of the numerousness of a Nation but sometimes rather of the nature of the Government and Distrubation of the Lands as for instance Where the Prince and Lords are owners of the whole Territory although the People be thin the Armies upon occasion may be very great as in East-India Turkey and the Kingdoms of Fesse and Morocco where Taffelet was lately said to have an Army of one hundred and fifty or two hundred thousand men although every body knows that Country hath as great a scarcety of people as any in the World But since Free-holders are so much encreased in England the servile Tenures altered doubtless it is more difficult as well as more chargeable to draw great numbers of men into foreign Wars 2. Since the Introduction of the new Artillery of Powder Shot and Fire-Arms in the World all War is become as much rather an expence of Money as Men and success attends those that can most longest spend Money rather than men and consequently Princes Armies in Europe are become more proportionable to their Purses then to the Numbers of their People VI. That all Colonies and foreign Plantations do endamage their Mother-Kingdoms whereof the Trades of such Plantations are noâ— confined to their said Mother Kingdoms by good Laws and severe Execution of those Laws 1. The practice of all the Governments of Europe witness to the truth of this Proposition The Danes keep the Trade of Izland to themselves The Dutch Surrenham and all their Settlements in East-India The French St Christophers and their other Plantations in the West-Indies The Portugeeze Brazil and all the Coasts thereof The Spaniards all their vast Terriories upon the Main in the West Indies and many Islands there and our own Laws seem to design the like as to all our Plantations in new-New-England Virginia Barbadoes c. although we have not yet arrived to a compleat and effectual Execution of those Laws 2. Plantations being at first furnished and afterwards successively supplied with People from their Mother Kingdoms and people being Riches that loss of people to the Mother Kingdoms be it more or less is certainly a damage except the employment of those People abroad do cause the employment of so many more at home in their Mother Kingdoms and that can never be except the Trade be restrained to their Mother Kingdom which will not be doubted by any that understands the next Proposition viz. VII That the Dutch will reap the greatest advantage by all Colonies issuing from any Kingdom in Europe whereof the Trades are not so strictly confined to their proper Mother Kingdoms This Proposition will readily be assented unto by any that understand the nature of low Interest and low Customs where the Market is free they shall be sure to have the Trade that can sell the best penny-worths that buy dearest and sell cheapest which Nationally speaking none can do but those that Money at the lowest rate of Interest and pay the least Customs which are the Dutch and this is the true cause why before the Act of Navigation there went ten Dutch Ships to Barbadoes for one English VIII That the Dutch though they thrive so exceedingly in Trade will in probability never endamage this Kingdom by the growth of their Plantations 1. In fact the Dutch never did much thrive in planting for I do remember they had about twenty Years past Tabago a most fruitful Island in the West-Indies apt for the production of Sugars and all other Commodities that are propagated in Barbadoes and as I have heard Planters aâ—firm better accomodated with Rivers for Water-Mills which are of great use for grinding of the Canes this Island is still in their possession and Corasoa and some others and about sixteen or seventeen Years past they were so eager upon the Improvement of it that besides what they did in Holland they set up Bills upon the Exchange in London proffering great Priveledges to any that would Transport themselves thither Notwithstanding all which to this day that Island is not the tenth part so well improved as Iamaica hath been by the English within these five Years neither have the Dutch at any other time or in any other parts of the World made any emprovement by Planting what they do in the East-Indies being only by War Trade and Building of Fortified Towns and Castles upon the Sea-Coasts to secure the sole Commerce of the Places and with the people which they Conquer not by clearing breaking up of the Ground and Planting as the English have done This I take to be a strong Argument of Fact to my present purpose 2. The second Argument to prove this Proposition is from Reason I have before-mentioned the several Accidents and Methods by which our Foreign Plantations have from time to time come to be peopled and emproved Now the Dutch being void of those Accidents are destitute of the occasions to emprove Foreign Plantations by diging and delving as the English have done For 1 st In Holland their Interest and Custom being low together with their other Encouragements to Trade mentioned in the former part of this Treatise gives Employment to all their people born and bred amongst them and also to multitudes of Foreigners 2. Their giving Liberty or at least Connivance to all Religions as well Jews and Roman-Catholicks or Sectaries gives security to all their Inhabitants at home and expels none nor puts a necessity upon any to Banish themselves upon that account 3. Their careful and wonderful providing for and employing their Poor at home puts all their People utterly out of danger of Starving or necessity of Stealing and consequently out of fear of Hanging I might add to this that they have not for a long time had any Civil War among them and from the whole conclude that the Dutch as they did never so they never can or will thrive by planting and that our English Plantations abroad are a good effect proceeding from many evil causes IX That neither the French Spaniards or Portugeeze are much to be feared on the account of Planting not for the same but for other Reasons That the French have had footing in the West-Indies almost as long as the English is certain and that they have made no considerable Progress in Planting is as certain and finding it so in fact I have been often exercising my thoughts about enquiry into the reason thereof which I attribute especially to two First because France being an absolute Government hath not until very lately given any countenance or encouragement to Navigation and Trade Secondly and principally because the French Settlements in the West-Indies have not been upon Free-Holders as the English are but in subjection to the French West-India Company which Company being under the French King as Lord Proprietor of the places they settle
upon and taxing the Inhabitants at pleasure as the King doth them it is not probable they should make that succesful Progress in Planting Propriety Freedom and Inheritance being the most effectual Spurs to Industry 2. Though some who have not looked far into this matter may think the Spaniards have made great Progress in Planting I am of opinion that the English since the time they set upon this Work have cleared and emproved fifty Plantations for one and Built as many Houses for one the Spaniards have Built this will not be very difficult to imagine if it be considered First that it is not above fifty or sixty Years since the English intended the Propagating Foreign Plantations Secondly that the Spaniards were Possessed of the West-Indies about our King Henry the 7 th's time which is near two Hundred Years past Thirdly that what the Spaniard hath done in the West-Indies hath been ten times more by Conquest then by Planting Fourtly That the Spaniards found in the West-Indies most of the Cities and Towns ready Built and Inhabited and much of the Ground emproved and cultivated before their coming thither Fifthly That the Inhabitants which they found there and subdued were such a People with whom some of the Spaniards could and have mixed from whence hath proceeded a Generation of People which they call Mestises whereas the English where they have set down and Planted either found none or such as were meer wild Heathen with whom they could not nor ever have been known to mix Sixthly That now after such a long series of time the Spaniards are scarce so Populous in any Part of the West-Indies as to be able to bring an Army of Ten Thousand Men together in a Months time From all which I conjecture 1st That his Majesty hath now more English Subjects in all his Foreign Plantations in sixty Years than the King of Spain hath Spaniards in all his in two Hundred Years 2d That the Spaniards Progress in Planting bears no Proportion to the encrease of the English Plantations 3 d. That seeing the Spaniards in the time of their greatest Prosperity and under so many Advantages have been such indifferent Planters and have made such slow progress in Peopleing those parts of the West-Indies which they possess It is not much to be feared that ever the English will be mated by the Spaniards in their Foreign Plantations or Production of the Native Commodities of those Parts Now the reasons why the Spaniards are so thin of people in the West-Indies I take to be such as these following viz. First and principally because they exercise the same Policy and Governments Civil and Ecclesiastical in their Plantations as they do in their Mother-Kingdom from whence it follows that their People are few and thin abroad from the same causes as they are empty and void of people at home whereas although we in England vainely endeavour to arrive at a Vniformity of Religion at home yet we allow an Amsterdam Liberty in our Plantations It is true New-England being a more independant Government from this Kingdom then any other of our Plantations and the People that went thither more one peculiar Sort or Sect then those that went to the rest of our Plantations they did for some Years past exercise some Severities against the Quakers but of late they have understood their true Interest better insomuch as I have not heard of any Act of that kind for these five or six Years last notwithstanding I am well informed that there are now amongst them many more Quakers and other Dissenters from their Forms of Religious Worship then were at the time of their greatest Severity which Severity had no other effect but to encrease the New-English Non-conformists 2 d. A second reason why the Productions of the Spanish West-India Commodities are so inconsiderable in respect to the English and consequently why their Progress in Planting hath been and is like to be much less then the English as also the encrease of their People I take to be the dearness of the Freight of their Ships which is four times more then our English Freight and if you would know how that comes to be so twelve per cent Interest will go â— great way towards the satisfying you although there are other concomitant lesser causes which whosoever understands Spain or shall carefully read this Treatise may find out themselves 3 d. A third reason I take to be the greatness of the Customs in Old-Spain for undoubtedly high Customs do as well dwarf Plantations as Trade 4 th The Spaniards Intense and singular Industry in their Mines for Gold and Silver the working wherein destroys abundance of their people at least of their Slaves doth cause them to neglect in great measure Cultivating of the Earth and producing Commodities from the growth thereof which might give employment to a greater Navy as well as sustenance to a far greater number of people by Sea and Land 5 th Their multitude of Fryers Nuns and other reclust and Ecclesiastical Persons which are prohibited from Marriage 3. The third sort of People I am to Discourse of are the Portugeeze and and them I must acknowledge to have been great Planters in the Brazeils and other Places but yet if we preserve our People and Plantations by good Laws I have reason to believe that the Portugeeze except they alter their Politicks which is almost impossible for them to do can never bear up with us muchless prejudice our Plantations That hitherto they have not hurt us but we them is most apparent for in my time we have beat their Muscovado and Paneal Sugars quite out of use in England and their Whites we have brought down in all these Parts of Europe in price from seven and eight pounds per l. to fifty Shillings and three Pounds per l. and in quantity whereas formerly their Brazeil-Fleets consisted of One hundred to One hundred and twenty thousand Chests of Sugar they are now reduced to about Thirty thousand Chests since the great encrease of Barbadoes The reason of this decay of the Portugeeze Productions in Brazeils is certainly the better Policy that our English Plantatitions are founded upon That which principally dwarfs the Portugeeze Plantations is the same before-mentioned which hinders the Spaniards viz. extraordinary high Customs at home high Freights high Interest of Money Ecclesiastical persons c. From all that hath been said concerning Plantations in general I draw these two principal Conclusions 1 st That our English Plantations may thrive beyond any other Plantations in the World though the Trades of all of them were more severely limitted by Laws and good Execution of those Laws to their Mother-Kingdom of England exclusive to Ireland and New-England 2dly That it is in his Majesties power and the Parliaments if they please by taking off all Charges from Sugar to make it more intirely an English Commodity then white-Herrings are a Dutch Commodity and to draw more profit to this
Kingdom thereby then the Dutch do by that And that in consequence thereof all Plantations of other Nations must in a few Years sink to little or nothing X. That it is more for the Advantage of England that New found Lands should remain unplanted then that Colonies should be sent or permitted to go thither to Inhabit under a Governour Laws c. I have before discoursed of Plantations in general most of the English being in their nature much a like except this of New-found-Land and that of new-New-England which I intend next to speak of The advantage New-found-Land hath brought to this Kingdom is only by the Fishery there and of what vast concernment that is is well known to most Gentlemen and Merchants especially those of the West parts of England from whence especially this Trade is driven It is well known upon undeniable poof that in the Year 1605. the English employed 250. Sail of Ships small and great in Fishing upon that Coast and it is now too apparent that we do not so employ from all Parts above Eighty Sail of Ships It is likewise generally known and confessed that when we employed so many Ships in that Trade the current price of our Fish in that Country was Communibus annis seventeen Rials which is eight Shillings six Pence per Qunital and that since as we have lessened in that Trade the French have encreased in it and that we have annually proceeded to raise our Fish from seventeen Rials to twenty four Rials or twelve Shillings Communibus annis as it now sells in the Country This being the Case of England in relation to this Trade it is certainly worth the enquiery 1st How we came to decay in that Trade 2dly What means may be used to recover our antient Greatness in that Trade or aâ— least to prevent our further diminution therein The decay of that Trade I attribute First and principally to the growing Liberty which is every Year more and more used in Romish Countries as well as others of eating Flesh in Lent and on Fish-days 2. To a late abuse crept into that Trade which hath much abated the expence within these twenty Years of that Commodity of sending over private Boat-keepers which hath much diminished the number of the Fishing-Ships 3. To the great encrease of the French Fishery of Placentia and other Ports on the back-side of New-found-Land 4. To the several Wars we have had at Sea within these twenty Years which have much empoverished the Merchants of our Western Parts and reduced them to carry on a great part of that Trade at Bottumry viz. Money taken upon Adventure of the Ship at twenty per cent per Annum 2. What means may be used to recover our antient greatness in that Trade or at least to prevent our farther diminution therein For this two contrary ways have been propounded 1. To send a Governour to reside there and to encourage people to Inhabit there as well for Defence of the Country against Invasion as to manage the Fishery there by Inhabitants upon the Place this hath often been propounded by the Planters and some Merchants of London 2. The second way propounded and which is directly contrary to the former is by the West-Country Merchants and Owners of the Fishing-Ships and that is to have no Governour nor Inhabitants permitted to reside at New-found-Land nor any Passengers or private Boat-keepers suffered to Fish at New-found-Land This latter way propounded is most agreeable to my Proposition and if it could be effected I am perswaded would revive the decaied English-Fishing-Trade at New-found-Land and be otherwise greatly for the advantage of this Kingdom and that for these following reasons 1. Because most of the Provision the Planters which are settled at New-found-Land do make use of viz. Bread Beef Pork Butter Cheese Clothes and Irish-Bengal Cloth Linnen and Woollen Ireish-Stockings as also Nets Hooks and Lines c. they are supplied with from New-England and Ireland and with Wine Oyl and Linnen by the Sâ—lt Ships from France and Spain in consequence whereof the Labour as well as the Feeding and Clothing of so many Men is lost to England 2. The Planters settled there being mostly loose vagrant People and without Order and Government do keep dissolute Houses which have Debaucht Sea-Men and diverted them from their laborious and industrious Calling whereas before there were settlements there the Sea-Men had no other resort during the Fishing Season being the time of their abode in that Country but to their Ships which afforded them convenient Food and Repose without the Inconveniencies of Excess 3 If it be the Interest of all Trading Nations principally to encourage Navigation and to promote especially those Trades which employ most Shiping then which nothing is more true nor more regarded by the wise Dutch then certainly it is the Interest of England to discountenance and abate the number of Planters at New-found-Land for if they should encrease it would in a few Years happen to us in relation to that Country as it hath to the Fishery at New-England which many Years since was managed by English Ships from the Western Ports but as Plantations there encreased fell to be the sole Employment of People settled there and nothing of that Trade left the poor old English-Men but the liberty of carrying now and then by courtesie or purchase a Ship loading of Fish to Bilvoa when their own Nâ—w-English Shiping are better Employed or not at leisure to do it 4. It is manifest that before ther were Boat-keepers or Planters at New-found-land Fish was sold cheaper than now it is by about 40 per Cent and consequently more vented the reason whereof I take to be this The Boat-keepers and Planters being generally at first able Fisher-men and being upon the place can doubtless afford their Fish cheaper then the Fishing Ships from Old England so doubtless they did at first as well at New-England as at New-found-land until they had beat the English Ships out of the Trade after which being freed from that competition they became Lazy as to that laborious employment having means otherwise to live and employ themselves and thereupon enhaunced the price of their Fish to such an excess as in effect proves the giving away of that Trade to the French who by our aforesaid impolitick management of that Trade have of late Years been able to under-sell us at all Markets abroad and most certain it is that those that can sell cheapest will have the Trade 5. This Kingdom being an Island it is our Interest as well for our preservation as our profit not only to have many Sea-men but to have them as much as may be within call in a time of danger Now the Fishing Ships going out in March and returning home for England in the Month of September yearly and there being employed in that Trade two hundred and fifty Ships which might carry about ten thousand Sea-men Fisher-men and Shore men as they usually call the
younger Persons which were never before at Sea I appeal to the Reader whether such a yearly return of Sea-men abiding at home with us all the Winter and spending their Money here which they got in their Summer-Fishery were not a great access of Wealth and Power to this Kingdom and a ready supply for his Majesty's Navy upon all Emergencies 6. The Fishing Ships yet are and always have been the breeders of Sea-men the Planters and Boat-keepers are generally such as were bred and became expert at the cost of the Owners of Fishing Ships which Planters and Boat-keepers enter very few new or green men 7. By the building fitting victualling and repairing of Fishing-Ships multitudes of English Trades-men and Artificers besides the Owners and Sea-men gain their subsistance whereas by the Boats which the Planters and Boat-keepers build or use at New-found-Land England gets nothing Object But against all that I have said those that contend for a Governour at New-found-Land object 1. That without a Governour and Government there that Country will be alwayes exposed to the surprizal of the French or any Foreigners that shall please to attacque it 2. That the disorders of the Planters which I complain of and some others which for brevities sake I have not mentioned cannot be remedied without a Governour To which I answer first That when we cannot preserve our Colonies by our Shiping or so awe our Neighbours by our Fleets and Ships of War that they dare not attempt them our case will be sad and our Propriety will be lost or in eminent danger not only abroad but at home likewise 2 dly All the Fish that is killed at New-found-Land in a Summer is not sufficient to maintain strength enough on Shore to defend two Fishing Harbours against ten men of War whereas that Country hath more Harbours to defend than are to be found in Old England 3 dly If a Governour be established the next consequence will be a Tax upon the Fishing and the least Tax will encrease the price of Fish and that unavoidably will give the Trade away wholly into the French Hands 4 thly A Government there is already of antient Custom among the Masters of the Fishing-Ships to which the Fishermen are inured and that free from Oppression and adapted to the Trade insomuch that although a better might be wished I never hope to see it XI That New-England is the most prejudical Plantation to this Kingdom I am now to write of a People whose Frugality Industry and Temperance and the happiness of whose Laws and Institution do promise to themselves long Life with a wonderful encrease of People Riches and Power And although no men ought to envy that Vertue and Wisdom in others which themselves either can or will not practice but rather to commend and admire it yet I think it is the duty of every good man primarily to respect the well-fare of his Native Country and therefore though I may offend some whom I would not willingly displease I cannot omit in the progress of this discourse to take notice of some particulars wherein Old England suffers diminution by the growth of those Colonies settled in New-England and how that Plantation differs from those more Southerly with respect to the gain or loss of this Kingdom viz. 1. All our American Plantations except that of New-England produce Commodities of different Natures from those of this Kingdom as Sugar Tobacco Cocoa Wool Ginger sundry sorts of dying Woods c. Whereas New-England produces generally the same we have here viz. Corn and Cattle some quantity of Fish they do likewise kill but that is taken saved altogether by their own Inhabitants which prejudiceth our New found-land Trade where as hath been said very few are or ought according to Prudence to be employed in those Fisheries but the Inhabitants of Old England The other Commodities we have from them are some few great Masts Furs and Train-Oyl whereof the Yearly value amounts to very little the much greater value of returns from thence being made in Sugar Cotton Wool Tobacco and such like Commodities which they first receive from some other of his Majesty's Plantations in Barter for dry Cod-Fish salt Mackerel Beef Pork Bread Beer Flower Pease c. which they supply Barbadoes Iamaica c. with to the diminution of the vent of those Commodities from this Kingdom the great Experience whereof in our own West-India Plantations would soon be found in the advantage of the value of our Lands in England were it not for the vast and almost incredible supplies those Colonies have from New-England 2. The People of New-England by vertue of their Primitive Charters being not so strictly tied to the observation of the Laws of this Kingdom do sometimes assume a liberty of Trading contrary to the Act of Navigation by reason whereof many of our American Commodities especially Tobacco and Sugar are transported in New-English Shiping directly into Spain and other foreign Countries without being Landed in England or paying any Duty to his Majesty which is not only loss to the King and a prejudice to the Navigation of Old England but also a total exclusion of the old English Merchant from the vent of those Commodities in those Ports where the New-English Vessels trade because there being no Custom paid on those Commodities in New-England and a great Custom paid upon them in Old England it must necessarily follow that the New-English Merchant will be able to afford his Commodity much cheaper at the Market than the Old English Merchant And those that can sell cheapest will infallibly engross the whole Trade sooner or later 3. Of all the American Plntations his Majesty hath none so apt for the building of Shiping as New-England nor none comparably so qualified for the breeding of Sea-men not only by reason of the natural industry of that people but principally by reason of their Cod and Mackerel Fisheries And in my poor opinion there is nothing more prejudicial and in prospect more dangerous to any Mother Kingdom then the encrease of Shiping in their Colonies Plantations or Provinces 4. The People that evacuate from us to Barbadoes and the other West-India Plantations as was before hinted do commonly work one English man to ten or eight Blacks and if we kept the trade of our said Plantations intirely to England England would have no less Inhabitants but rather an encrease of people by such evacuation because that one English man with the ten Blacks that work with him accounting what they eat use and wear would make employment for four men in England as was said before whereas peradventure of ten men that issue from us to New-England Ireland what we send to or receive from them doth not employ one man in England To conclude this Chapter and to do right to that most Industirous English Colony I must confess that though we loose by their unlimitted Trade with our Foreign Plantations yet we are very great Gainers