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A57517 Sir Thomas Rowe his speech at the councell-table touching brasse-money, or against brasse-money, with many notable observations thereupon, Iuly, 1640. Roe, Thomas, Sir, 1581?-1644. 1641 (1641) Wing R1778A; ESTC R474455 6,259 12

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in their shillings and pounds a lesse proportion of silver and gold than they did before this projected alteration and pay for what they buy at a rate enhaunsed it must cast upon all a double losse what the King will suffer by it in the Rents of his lands is demonstrated enough by the alteration since the 18 of Ed 3. when all the Revenues of the Crown came unto the receipts pondere numero after 5 Groats the Ounce which since that time by severall changes of the Standard is come to 5s whereby the King hath two third parts of his just Revenues In his Customes the book of rates being regulated by pounds and shillings his Majesty must lose alike and so in all and whatsoever moneyes that after this he must receive the profits of his Coynage cannot be much more permanent in the losse lasting and so long as it reacheth to little lesse than yeerly to accept part of hi Revenue for in every pound tale of gold is 7 Ounces 1d weight and 19 grains losse which 25l in accompt and in 700l tail of silver which is 14l 17s more And his Majesty shall undergo all this losse hereafter in all his receipts so shall he no lesse in all his dibursments the wages of his souldiers must be ratably advanced as the money is decreased This Edward the 3 as appeareth by the accounts of the Wardrobe and Exchequer as all the Kings after him were inforced to do as often as the lessened Standard of the moneyes of what shall be bought for his Majesties service must in like manner be inhaunsed on him As his Majesty hath the greatest profits of receipts and issues so must he of necessity taste of the most losse by this device It will destroy or discourage a great proportion of the trade in England Impair his Maiesties Customes for that part being not the least that passeth upon trust and credit will be over-thrown for all men being doubtfull of diminution hereby of there personall estates will call in their moneys already out and no man will part with that which is lying by himuppon apparant losse as this must bring what dammage may befall the State by such a sudden stand of Trade I cannot guesse The moneys both of gold and silver formerly Coyned and abroad richer then those intended will be made of the most nereby Bulloin and so transported which I conceive will be none of the least inducements that hath drawn so many Goldsmithes to side this Proiect that they may be thereby Factors for the Strangers who by the Law of Mintage bring but two shillings silver to the pound waight and 4 shillings for gold whereas with us the one is and the other 5 shillings many make that profit beyond the Sea they cannot here and so his Maiesties Mint unset of worke And as his Maiesties losse appeareth in the alteration of many a 14th in the silver and a 25th part in all the gold they after shall receive so shall the Nobilitie Gentry and all other landed men in all their former setled Rents Annuities Pensions and sums of money the like will fall upon the labourers and workemen in their statute wages And as their receipts are lessened hereby so are their issues increased either by improving all prices or dis-furnishing the Marker which must necessarily follow for in the 5th of Edw. 6th 3o Mary 4to Eliz. as appeareth by their Proclamations That a Rumour only of alteration caused such effects punishing the author of such reports with Imprisonment and Pillory It cannot be doubted but the proiecting of such a change must be of far greater consequence and danger to the State and would be wished that the Actors and authors of such disturbances in the Common-wealth at all times hereafter might undergo a punishment proportionable It cannot be held I presume an advise of best indgement that layeth the losse upon our selves and the gain upon our enemies for who are like to be in this the greatest thrivers is not visible that the strangers who support or money for bullion our own Gold-smiths who are their Brokers and the Hedgminters of the Netherlands who tearmed them well will have a fresh and full trade by this abasements And we do not the Spanish King our greatest enemy a greater favour than by his who being Lord of these commodities by his West-Indies we shall so advance them to our impoverishment for it is not in the power of any State to raise of the price of their own but the value that their neighbours set upon them experience hath taught us that the enfoebling of Coyn is but a shift for a while as drinke to one in a dropsie to make him swell the more but the state was never thorowly cured as we saw in Henry the Eighths time and the late Queens untill the Coyn was made rich again I cannot but then conclude my honorable Lords that if the proportion of Gold and Silver to each other be wrought to that purity by the advice of the Artists that neither may be too rich for the other that the Mintage may be reduced to some proportion of neighbour parts and that the issue of native commodities may be brought to over-ballance the entrance of the forraigne we need not seek any shift but shall again see our trade to flourish the Mint as the pulse of the Common-wealth again to beat and our Materialls by Industry to be Mynes of Gold and Silver which we all wish and work for supported unto us and the honor of Justice and Profit of his Maiesty Certain general Rules collected concerning Money and Bullion out of the late Consultation at Court GOld and silver hath a two fold estimation in the extrinsique as they are moneys and Princes measures given to his people and this is a Prerogative of Kings in the Intrinsique they are commodities valewing each other according to theplenty or scarcity and so all other commodities by them and that is the sole power of Trade The measure in a Kingdome ought to be constant It is the Justice and honor of the King for if they be altered all men at that time are deceived in the precedent contracts either for lands or moneys and the King most of all for no man knoweth either what he hath or what he oweth This made the Lord Treasurer Burleigh in Anno 1573. when some Projectors had set on foot a matter of that nature to tell them that they were worthy to suffer death for attempting to put so great a dishonor upon the Queen and detriment and discontent on the people for to alter this publike measure is to leave all the Markets of the Kingdome unfurnished and what will be the mischiefe the Proclamation of 5. and 6. 30. Mary and 4th of Eliz. will manifest when but a rumor produced that effect so farre that besides the faith of the Princes to the contrary delivered in their Edicts they were inforced to cause the Magistrates in every Shire
Sir Thomas Rowe HIS SPEECH At the Councell-Table touching Brasse-Money or against Brasse-Money with many notable observations thereupon Iuly 1640 Printed Anno 1641. Sir Thomas Rowe his Speech at the Councell Table touching Brasse-Mony or against Brasse-Money with many notable observations thereupon Iuly 1640. MY Lords since it hath pleased this Honorable table to command amongst others my poore opinion concerning this waighty proposition of money I must humbly crave pardon if with that freedome that becometh my duty to my good and gracious Master and my obedience to your great commands I deliver it so I cannot my Lords but assuredly conceive this intended project of infeobling the Coyn will trench very far both into the honor of Justice and profit of my Royall Master All estates do stand Magis fama quam vi as Tacitus saith of Rome And wealth in every Kingdome is one of the essentiall marks of their greatnesse and is best expressed in the measures and purity of their moneys Hence it was that so long as the Romane Empire a pattern of the best Government held up their glory or greatnesse they ever maintained with little or no change the standard of their Coyn but after the loose time of Commodus had led in need by excesse and so by that shift of changing the standard the Majesty of that Empire fell by degrees And as Vopiscus saith the steps by which that State descended were visible most by the generall alteration of their Coynes and there is no surer simptomes of consumption in State then the corruption of the Money What Renowne is left to the Posterity of Edw. 1. in amending the standard both in puritie and weight from that of elder and barbarous times it must needs stick as a blemish upon Princes that do the contrary Thus we see it was with Hen. 6. who after he had begun with a baiting the measures he afterwards fell to abasing the matter and granted Commission to Missend and others to practise Alcamie to serve his Mint The extremity the State in generall felt by this agrievance besides the dishonor it layd upon the person of the King was not the least disadvantage his disloyall kinsman tooke to ingrace himselfe into the peoples favours to his Soveraigns Reign When Hen. the 8th had gained as much of power and glory abroad of love and obedience at home as ever any he suffered a losse by this Rock When his Daughter Queene Elizabeth came to the Crowne she was happier in Councell to amend that error of her Father for in a memoriall of the Lord Treasurer Burleighs his hand I finde that he and Sir Thomas Smith a grave and learned man advised the Queen that it was the Crown and the true wealth of her selfe and people to reduce the standard to the ancient party and purity of her great Grandfather Edward the 4th and that it was not the short end of wits nor starting holes of devises that can sustain the expence of a Monarchy but sound and solid courses for so are the words She followed their a devise and began to reduce the moneys to their elder goodnesse stiling this worke in her first Proclamation Anno 30. a famous Act. The next year following Anno 30. having perfected as it after stood She telleth her people by another Edict That She had conquered now that monster that had so long devoured them meaning the variation of the standard And so long as that sad adviser lived She never though often by Projectors importuned could be drawne to any shift or change in her Moneys To avoyd the trouble of permutation Coyners devised as a rule and measure of Marchandize and Manufactaries which if mutable no man can tell either what he hath or what he oweth no contract can be certain and so all commerce both publike and private destroyed and men again enforced to permutation with things not subject to will and fraud The Regulating of Coyn hath been left to the care of Princes who have ever beene presumed to be the Fathers of the Common-wealth upon their honors they are debtors and warrants to the subjects in that behalfe They cannot saith Bodin alter the price of moneys to the preiudice of the subiect without incurring the reproach of Faux moneyars And therefore stories terme Phillip le Belle falsificator de monet omnino monet integritas debet quaeri ubi vultus noster Imprimatur said Theodoret the Goth to his Mint-master Quidnam erit tutum si nostra peccetur effigie Princes must not suffer their faces to warrant falshood Although I am not of opinion with the Minor des Iustices the ancientest books of the Common-Law That Le Roy ne poi●s money impaire ne a mander saus Lassent des touts les Counties which was the great counsell of the Kingdome Yet cannot I passe over the goodnesse and grace of many other our Kings as Edw. 1. Edw 3. Hen. 4. and the the 5th and others who out of the rule of their Justice Quod ad omnes spectat ob omnibus debet approbari have often advised with their people in Parliament both for the Allay weight number of peeces rate of Coynage and exchange and must with infinite goodnesse acknowledg the care and Justice now of my good Master and your Lordships wisedomes that would not upon the information of some few officers of the Mint before a free and carefull debate put in execution this Proiect Yet I must under your Lordships favour suspect it would have taken away the tenth part of every mans due debt or rent alreadie reserved throughout the Realm not sparing the King which could have been little lesse then a species of that which the Roman stories call Tabula nova from whence every sedition hath sprang as that of Marius Grantidianus in Livio who pretending in his Consulship thatt the currant money was wasted by us called it in and altered the Standard which grew so heavie and grievous to the people as the Author sayth because thereby no man knoweth certainly his wealth that it caused a tumult In this last part which is the disprofit that the enfeobling the Coyn will bring both to his Maiesty and to the Common-wealth I must distinguish the moneyes of gold and silver as they are bullion and commodities and as they are measures the one of the extrinsique quality which is at the Kings pleasure as all other measures to name the other the intrinsique quality of pure mettall which is in the Merchant to value as their measure shall be either to be lessened or enlarged so is the quantity of the commodity that is to be exchanged if then the King shall cut his shilling or pound in money lesse than it was before a lesse portion of such commodities as shall be exchanged for it must be received it must then of force follow that all things of necessity as victualls apparell and the rest as well as those of pleasure must be inhaunsed If then all men shall receive