themselues in debt TTantúmne est ab re tua otij tibi aliena vt cures eaque nihil quae ad te attinent § 34. Teran heaut This man certainely hath nothing to doe of his owne that is so busie in other mens affaires It is true that the Merchants-Adventurers trade is ingaged in a great summe of money yet not for the service of the Company but of the State and therefore it is a very audacious part for a man of his qualitie to cast such a calumny in the face of so worthy a Company It were a great happines vnto that trade and other trades also that depend on it that some good means were thought vpon either that which hath beene proposed or some such other as might be thought more fit in the wisdome of the State for case therein whereby the Trade of Cloth and the Traders therein both Clothier and Merchant might be more encouraged The Merchants-Adventurers haue strugled much to lessen this charge even with the withdrawing of pensions and deserved stipends from many which alas is like a drop of water to the Ocean And as it can conduce little to the case of so great a charge so may it much hazard the honour and reputation of the government of so famous a fellowship in forraine parts which heretofore hath shined in the eyes of Strangers aboue all other Nations Wherein also there 's a relation to the honour of the King and Kingdome both which are represented vnto Strangers in forraine parts in their government and therefore it 's pittie that those that therein haue excelled others should now be inferiour vnto all Neither doth this man so much as spare his aspersions from the Clothier for thus he saith This small number to mannage so great a trade P. 51. incourageth the Clothier to adventure to make false Cloth because it is impossible that so few Merchants can search and vifit every Cloth as it ought to be done and the Clothiers conscience is satisfied for hee saith that the falsest Cloth is answerable to the best price VTquisque est vir optimus ita difficilime esse alios Improbos suspicatur § 34. Cic. ad Quint. If Malynes were good himselfe hee would thinke better of other men I cannot thinke there is any Clothier so bad that would speake so ill Ill will speake's well of none nor Malynes of Merchant nor Clotheir For it is not the small or great number of Merchants that incourageth the Clothiers to make false cloth but meerely the want of execution of the Statute Free trade cop 2. and 7. of 4. of the King enacted for clothing as I haue else where shewed at large Now the Statute provideth that cloth bee searcht wet and not dry as it commeth out of the Mill and not as it commeth to the Market And therefore the wisdome of Parliaments hath appointed the search to bee made where the clothes are made So that if the search be neglected there it is not the multitude of Merchants that can help the search or indeed try the search as it ought to be For in the winter time the season of the yeare will not afford drying for the tenth Cloth to be wet and dryed againe for timely exportation And should the Clothier bee detained from his money and the cloth from the market till such a kinde of vnkindly search or review were made both Merchants and Clothiers would soone be a weary of such a tryall Neither is there any necessitie for the Merchants to make this review for then the great numbers of the Clothworkers in London that are set a worke by the Merchants-Adventurers to visit their Clothes would lose their employment So that if Malynes had sayd true that there wants Merchants yet there 's no want of Clothworkers to performe this worke Many other things hee speaketh at Random of the Clothiers of the Ports of Chapmen and others as generally he doth throughout the whole scope of his booke which deserue not repetition much lesse the honour of an answer and concludeth these digressions thus Shall this be proclaimed a free trade P. 53. when within our selues we are in bondage and haue lost the benefit of the two essentiall parts of traffique namely the rule of money and Exchange And a little after P. 54. The Merchant Staplers haue observed that the Merchants Adventurers haue an inevitable opportunitie of combination to set what price they please vpon Cloth to the Clothier of Woll to the grower and of all Commodities exported and imported ASpis à vipera venenum mutuatur § 36. Malynes calls the Staplers to witnes against the Merchants Adventurers when hee and they are both their profest Adversaries But for the accusation no Subiects I dare say of this Kingdome are more free of these crimes then the Merchants-Adventurers neither haue they any opportunity of such combination as is most vntruely suggested For there are no Merchants of the Kingdom that doe more bid and out-bid one another at the market then they If they did trade as some Merchants doe in a ioynt stock there might be some suspition of it but where there are so many buyers as are continually of the Merchants-Adventurers every man in that case is nearest to himselfe And if all the Orders which ever they made since they had the honour of their name were searched out and sisted over there would not be found a syllable in them of that sound whereof Malynes maketh such a noyse For the Free trade whereof hee speaketh and whereby hee pointeth at my Tract of trade I would to God that those grievances therein mentioned were remooved and then mauger Malynes or any other if any be of his minde I durst proclaime that this Kingdomes trade would both be free flourish Wherin neverthelesse I haue dealt freely and fairely in wishing That the Kings high way of trade Free Trade cap. 3. vpon such reasonable termes as might concurre with the wisdome of the State might be opened vnto all men But I perceiue there 's no discourse of Free trade will please Malynes and others of his minde without a Par of Exchange or complaint against Companies the Merchants-Adventurers especially But you the Merchants-Adventurers who worthily haue obtained honour of his Maiestie favour of the Nobility fame in the world loue of Strangers good report of all that you I say should come vnder Malynes pen and be made the subiect of his style the obiect of his envie is such a disgrace as the State was never wont to let you suffer or the honour of your name to vndergoe What should be the cause of this mans enuy Is his eye evill because the gracious eye of his Maiestie is so good to haue beheld your famous fellowship with His own aspect For his Maiesty looking backe vpon some former and later experiments made vpon this trade and looking forward vpon the danger and inconvenience of Innovations hath as his Royall Predecessors
ever did vouchsafed his Royall grace and favour to These Merchants This trade Because the Cloth-trade is the Dowry of the Kingdome the great Revenue of the King It is the Axis of the Common-wealth whereon all the other trades of the Kingdome doe seeme to turne and haue their revolution And therefore it hath ever beene the policy of State to entrust this trade to such men as are Probatae fidei of approoved credit and trust wisely to manage the same and not to Novices and new-made Merchants by whose inexperience the trade might bee subiect to bee betrayed into the hands of forraine Nations And certainely the Common-wealth would lose more by the losse of one expert Merchant discouraged and driven out then it could hope to gaine by twenty Novices let in into a trade which they doe not vnderstand So that this restraint is the cause of this enuy which is in nature an innate and inbred thing Eleg. 3.4 according to that of the Poet Nittimur invetitum semper cupimusque negata Men are commonly most fond of that which they are most forbid Otherwise I am as confident as I am conscious of it that there is no trade of this Kingdom giveth so little allurement to those that are without or so small encouragement to those that are within as doth the Merchants-Adventurers trade at this day Which notwithstanding I hope his Royall Maiestie shall ever finde in them that loyall resolution which heretofore they haue shewne to cast downe themselues and their trades in all humility at his Maiesties feet to be disposed of according to the good pleasure of his Maiesties high wisdome and grace And yet I would haue no man thinke that I would seeme hereby to take vpon mee to personate them or meddle in their matters further then you see Malynes hath led me into the same Wherein I must vse this iust defence for them and me that I haue neither had commission from them nor consulted with them or any of theirs about this thing or any thing contained herein But with an even hand and heart haue without partiality Crassâ Minervâ according to the plainenes and simplicity of mine owne poore Genius pursued Malynes from point to point Neither doe the Merchants-Adventurers of all others stand in need of my helpe For they are happy in enioying him who for his learning and integrity deserveth praise of whom if I say that hee is not second to any of his qualitie in this Kingdome I shall neither flatter him nor iniure any as all that know him doe know and will acknowledge To him therefore I shall commend this theame as most proper to his person and office who for his parts is more able and for his place is more fit then my selfe to take vpon him this defence if there bee cause It is true I am a brother though vnworthy of that worthie Society and so I am of other Companies also and so also am I a member though one of the least of the great Common-wealth of this Kingdom wherein I haue learnt to preferre that publique to all these particular obligations Amicus Plato Amicus Socrates sed magis Amica veritas Those Companies and that course of trade shall be my discourse of Free trade which shall be best approved of the State and wherein the honour of The King and the welfare of the The Kingdome are most involved BY this time Malynes is come to Monopolies the discourse whereof §. 37. if you will take his word P. 60. Is without Ryme or Reason because his pure Par of Exchange is not appendix't to it And indeed there is some reason that such a Par as hee parret's of should haue had some place assigned it amongst Monopolies For I 'le vndertake that there is not any worse Monopoly in the Kingdome then hee would make of this If hee might haue his will For other Monopolists would be sole sellers and buyers in merchandize hee in the Exchange But if you doubt of his iudgement in this proiect hee will produce his Monsieur Bodin to approue it by this French proverbe I l entend le par P. 61. which was never yet knowne for any good phrase in the French much lesse for a proverbe and is as ill a proofe as a proverbe to approue his experience For Celuy qui est d'experience entend le par Malynes n'entend pas le par Ergo Malynes n'est point d'experience The proposition is prooved by his owne Proverbe the Assumption by his Proiect as the event will manifest But now you talke of a Sillâ—gisme will you heare Malynes make a Paralogisme Thus Nothing causeth Merchants to export more money out of the Realme then they bring in P. 61. but onely the bringing in of more Commodities into the Realme then they carryed out The vnder-valuation of our monies causeth no more Commodities to bee brought into the Realme then is carryed out Ergo the vnder-valuation of our monies causeth not more money to bee carryed out of the Realme then is brought in NEvè negativis rectè concludere scibis §. 38. Seton There is no good conclusion can bee drawne from Negatiues And therefore the Philosophers say Ex nihilo nihilfit You cannot make something of nothing Neither hath it the shape of a Syllogisme for all the Propositions in it are Negatiue which cannot come vnder any Mood or Figure of Aristotle Or if it had the forme of a Syllogisme yet it makes nothing against any thing I haue said For I do not say any where that the vnder-valuation of our mony causeth more mony to be caried out of the Realme then is brought in but that it causeth money to be caryed out of the Realme when it is brought in against which this Paralogisme if it had beene a Syllogisme could haue concluded nothing For mony must be first brought into the Realme before it bee carryed out Againe although it should be granted that the vnder-valuation of our money doth not cause more money to bee carryed out of the Realme then is brought in yet for all that it may cause a great part of that which is brought in to bee carryed out Thus you see this Sophister how he chops Logicke And great care forsooth hee takes that it breed not a Dilemma which hee vnderstands as well as he doth a Syllogisme For a Dilemma is that which convinceth both wayes which his Paralogisme doth no way or rather convinceth him of folly For his argument may easily be retorted vpon hinselfe thus If nothing causeth Merchants to export more mony out of the Realme then they bring in but onely the bringing in of more Commodities into the Realme then they carryed out then it is not for want of a Par of Exchange But the the first is true by his owne argument and therefore the second Or will you heare of a hound that hath a better sent of a Syllogisme then Malynes The hound having lost the sent coasts the
thought to be little was easily granted But she caused the skinne to be cut in small peeces and stretcht out in such length as it compa'st 22. stadia or furlongs of that measure whereon shee built Carthage in the midst thereof a Castle which she called Byrsa frō the name of the Bulles hide and by a Metonimy a Purse Strabe lib. 17. a Buls hide Whereon a Towre rare to bee seene Was buil't cal'd Burse by Dido Queene And indeed the Burses for Merchants assemblies in most places are of stately Structure as is our Burse of London the modell whereof was taken from the Burse of Antwerpe which twaine are much alike and excell all others that I know That of Amsterdam resembleth ours but ours farre exceedeth that in extent and costly architecture and was worthily named of Qu. Elizabeth The Royall Exchange And thus much of the Name The Thing it selfe followeth §. 9. The Thing or matter considered in the Exchange Naturallor Politique Which may be said either to be Natural or Politique A Natural Exchange is when mony is exchanged Value for Value according to the Intrinsique or inward finenes or true value thereof The Intrinsique value or finenes of monies cannot be known but by a dissolution melting down of the same into their proper bodies by a separatiō of the pure from the impure the fine siluer or gold from the allay or copper by assay In which Naturall Exchange there is no rate nor price to be admitted for the deliuering or taking of mony but looke how much fine siluer or gold you receiue in one place iust so much and no more you must pay or deliuer in another And this is a better direction then limitation of Exchanges For the finenes of monies is that Cynosure or Center whereunto all Exchanges haue their naturall propension But if you should so limit or restraine Exchanges that no man should take or deliuer any mony but according to the iust finenes then the vse of Exchanges in all places would bee taken away For then there would be no aduantage left neither to him that deliuereth nor him that taketh when mony must bee answered with mony in the same Intrinsique value For as it is the goodnes of a Commodity that directeth the price yet that price is greater or lesse according to the vse of the thing or the iudgement of the buyer and seller euen so it is the finenes of mony that directeth the price or value of the Exchange yet that price is greater or lesse according to the occasions of both parties contracting for the same which cannot be done in the Naturall Exchange because it admitteth no aduantage to either The Politique Exchange is when mony is exchanged value for value §. 10. The Politique Exchange according to the extrinsique or outward valuation Such as is the intrinsique finenes to the Natural Exchange such is the extrinsique value to the Politique Exchange Wherein Merchants are wont to reckon the certaine value of mony in finenes at an vncertaine valuation in denomination and accompt sometimes at a higher sometimes at a lower rate Which is therefore in Merchants termes called the price or course or rate of the Exchange And this valuation is thus vncertaine because it is greater or lesse according to the circumstances of time and place and persons Of time when money is taken by Exchange for longer or shorter time Of place where mony is more plentifull or scarse Of persons when the party taking mony is of greater or lesse credit or hath more or lesse need thereof In all these respects the rates of monies deliuered and taken by Exchange are alwayes more or lesse For as it is a common thing amongst men to sell one the same commodity to diuers men at diuers prises so is it also in Exchange when one and the same finenes of mony is answered by a different value in denomination or accompt Neither is there any certainty of gaine to the deliuerer of mony in the first Exchange although he seem to haue some aduantage in the price thereof aboue the value of fine siluer nor of losse to the taker though hee seeme to haue some disaduantage in the price thereof vnder the value of fine siluer because the deliuerer may perhaps be subiect to remit his mony backe in the second or forrain Exchange as much vnder the value of fine siluer as he had before aboue the value in the first Exchange And it may fall out also that the taker may gaine by the rising of the Exchange abroad that which hee seemed to lose by the falling thereof at home And if it happen that the mony deliuered in the first Exchange bee not remitted in the second Exchange but otherwise employed in trade that alter's not the case by Malynes owne rule which is Pag. 3. That commodities are bought and sold according to the publike measure of the Exchange So that in these Exchanges there is no certainty of gaine or losse to the parties taking or deliuering of mony vntill the time be run out and the returne come backe from those parts and places whether the mony was first deliuered by Exchange during which time the manifold occurrents which are contigent to trade may vary the gaine or losse to either party But because Malynes would make the world beleeue §. 11. The vse of Exchange that there is some great mystery in this kinde of Exchange let vs come a little neerer home in considering the Vse or Abuse thereof This kind of Politique Exchange is an excellent policy of trade I might say of State and concerneth both The King and Kingdome It concerneth The King when by the benefit of the Exchange his Maiesties affaires of State and high consequence may bee furnished with monies in forraine parts vpon all occasions without the exportation of any of his owne treasure It concerne's The Kingdome both in respect of Noble-men and Trades-men Of Noble-men when by the benefit of Exchange yong Noble-men and Gentlemen may be supplied with monies in their trauels without the danger inconueniēce of carrying ouer mony which without the Exchange could not be auoided Of Trades-men and that principally in respect of Merchants and Clothiers Of Merchants Old and Yong. Of Old Merchants whose meanes although good yet through the deadnes of times trades a good mans estate may be out of his hands in debts and wares which may be supplied by the benefit of Exchange Of Yong Merchants who hauing little meanes and lesse credit with the vsurer without a surety whom euery Yong man nor Old neither hath at command may supply themselues vpon their owne credits with great summes of mony by Exchange the least part whereof they could not haue had without a surety at interest Which is a singular benefit to Yong Merchants and tendeth to a very great inlargement of trade Of Clothiers for when the Cloth-markets are dead and when the Clothier cannot sell his
that the Seed being so good the Soile so fertile the Sowers so skillfull that the Weeds Such weeds should come vp so fast No wonder at all Because the Enuious man come's by night and sowes these Tares But be not you discouraged yee worthy Workmen The Lord of the haruest will haue them growe together vntill the haruest Goe on therefore sowe the Lords seed which is the Immortall seed of the Word of God Fight the Lords battailes bee instant in season and out of season cease not to teach to refute to correct to instruct and pray continually that this great Dragon that old Serpent which is come downe into the Earth may not thus deuoure the people You are The light of the world set vpon a hill Shine forth yee glorious Lights keepe on your course breake through these Clouds let no Planet obscure you let no Erring Starre deceiue you you are now placed in this lower Orb you shall one day be fix't in an higher Region where your Sunne shall bee the King of glory your King the Blessed Trinity your Law Charity and your Time Eternity there you shall shine in a Paradice of glory for euer and euer The first End of our Ballance of trade is to shew vs the state thereof If the people of this Kingdome were numbred from Dan to Bersheba I am perswaded there were neuer more people neuer lesse employment neuer more Idlenes neuer so much Excesse And this is the first End of our Ballance of Trade It shewe's vs our Case in what Estate we stand It shewe's the Causes of our Decay of trade It represents those causes in Capitall Characters that he that run's may reade Excesse and Idlenes §. 39. The second End of the Ballance of Trade is to direct vs to the Remedy which is to lessen our Importations What 's the other End of it Surely to direct vs to the Remedy which in a word is nothing els but to make our Importations lesse and our Exportations more Our Importations may be lessened by a restraint of such superfluous and vnnecessary things as either we haue of our own or can make our owne as may best concurre with the Policy of Trade and the Wisdome of the State to which as it become's me I humbly commend the same §. 40. Or to increase our Exportations By Precept Our Exportations may be Improued either by Precept or Practice Longum Iter per praecepta breue per Exemplum Example is the best precept Wee are sent to the Belgicke Pismire to learne a Precept Prou. 30.27 and why not to the Belgicke Grashopper For The * 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 Ex multitudine dicitur Sic Belgae per Mare atque in omni terra multi Arbch Hebraicè quasi Herbae quia ex gramine locust Belgae veròberbâ— radicibâ—â— modicè vescuntur Grashopper hath no King yet they march out all in Troupes Wee need goe no further then the Low Countries to learne this Lesson Although the Kingdome of Naples the Signory of Venice the Common-wealthes of Genoa Florence Milan Marcelles and many others might teach vs the same thing yet the Low Countries doe seeme to be an Epitome of all the Rest Which certainly for Policy and Industry may read a Lecture to all the other people of the world There you shall see their Gates stand wide open you may carry out as much mony as you will It is there held no Paradoxe to let mony goe out and yet not to want it within because they haue an Eie to the Ballance of Trade whereby they are assured that although it may goe out at one dore yet it will come in at another But there you shall see no Excesse in superfluous consumptions of forraine Commodities No Proiects nor Proiectors but for the Common-good All kind of Manufactures inuented that will fit the times and please the mindes of forrain Nations Their own Commodities eased of charge the forraine Imposed Frugality industry policy all working together for the publike All kinde of Staples of Corne of Wine of Cloth of Fish of Silk of Spices of Flaxe of Hempe of what not And all these not to breed or feed home-bred Consumption but to maintaine Trade and Forraine Negotiation For indeed their whole Country is nothing els but a Magazin a Staple a Receptacle of the Comodities of all other Countries And this is a liuing Precept a Patterne a Forme a plat-forme for our Imitation for the encrease of our Exportation and this will restore our ancient Ballance of Trade Or if it be too far for vs to goe to them to learn this Precept they will come to vs. Looke vpon Norwich Colchester Bocking Canterbury and other Cities peopled with the Dutch There you shall see at Home what you might seeke Abroad There you shall not see that grosse abuse committed and so much complained of in our Old and New Draperies The falsifying whereof hath diminished their quantities halfe in halfe Which as it tendeth to a great lessening of our Exportations so cannot the same possibly be recouered without reformation of this abuse in the Clothing of the Kingdome which is the principall trade thereof The Remedy come's on so slow that it is to be feared we shall need a Precept also from some of those of Norwich Colchester or Canterbury to helpe vs execute the Statute for Clothing of 4. of the King As for the difficulty in Perpetuanoes the Reformation whereof is thought to want a new Law I suppose vnder fauour those may come vnder the name and title of dozens mentioned in that old Law as doe Deuonshire and Hampshire Kersies which are either double or single dozens and so are Perpetuanes also And it were better to haue fewer Lawes with better Execution then more Lawes with more trouble and lesse vse From this Precept §. 41. By Practice wee come to the Practice in the vse of those meanes which Almighty God in great bounty offereth vnto vs both Within and Without the Land Within the Land wee haue Materials and Instruments Materials of our owne growth Materials of forraine growth none are wanting Instruments wee haue of our owne Nation Instruments of forraine Nations none are wanting We want not Meanes if our Mindes bee not wanting wee want not Action if we wanted not Affection but alas our children are brought to the birth and there want's strength to bring them forth Or rather wee haue strength and doe not put forth our strength we haue meanes and vse it not If I should tell you that there is ten thousand pounds a yeare cast away in the streets of one Citty in this Kingdome it would seeme very strange But he that will consider how many thousand persons there are in London that giue to idle poore in the streets and what one man commonly giue 's in a yeare may computate at least twice that Summe giuen in the City and the Suburbs This Summe of mony thus great thus giuen is not
THE CIRCLE OF COMMERCE OR THE BALLANCE OF Trade in defence of free Trade Opposed To Malynes Little Fish and his Great Whale and poized against them in the Scale Wherein also Exchanges in generall are considered and therein the whole Trade of this Kingdome with forraine Countries is digested into a Ballance of Trade for the benefite of the Publique Necessary for the present and future times By E. M. Merchant Prov. Cap. 26. Vers 4. and 5. Answer not a foole according to his folly least perhaps thou make thy selfe also like to him Answer a foole according to his folly least peraduenture hee be wise in his owne eyes LONDON Printed by Iohn Dawson for Nicholas Bourne and are to be sold at the Royall Exchange 1623. TO THE RIGHT HONORABLE THE EARLE OF MIDLESEX LORD HIGH TREASVRER OF ENGLAND c. A Great Grande of Italy Right Honourable delighted much in the delightfull skill of Picture sent a Courtier in post haste to all the principall Cities thereof to take a touch of the rarest and best Masters in that Science for his choyce of some rare and exquisite Piece The Messenger posting from place to place and getting of every one something at last found out Giotto a very famous man and second to none of his time in that skill as Angelus Politianus thus saye's in his praise Per quem pictura revixit In Epitaphium Iotti Peachams Compl. Gent. Cap. 12. Cui quà m recta manus tà m fuit facilis Of him I say this Messenger desired as hee had done of the rest some Master Piece to present vnto his Lord and Master Giotto willing to shew the dexterity of his Art and wit and the facility of his hand call'd for a sheet of paper and in the turning of an hand drew a Circle so perfect and exact that it was impossible for any man living to circinat or circulat with the helpe of a Compasse a more absolute Orb. The Courtier not being an Artist ask't if that were all yes said Giotto and it may bee more then all And so indeed it proov'd For when the Messenger had presented to his Lord and Master all the Pieces Giotto's Circle was preferr'd to all the rest and hee honoured aboue the rest and thence it went into a Proverb in Italy Piu tondo ch'il Circolo di Giotto more round then Giotto's Circle Others My Lord may present vnto Your Lordship Little Fishes Great Whales Par's of Exchange Pieces of greater price I haue nothing but a Circle not 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 the Circle of learning but the Circle of Commerce yet such a Circle as comprehends within the Periphery or circumference thereof the Ballance of Trade There 's my draught or rather My Lord it 's Yours For although the Ballance of Trade is an ancient Piece which in elder times hath beene in great vse in this Kingdome as I shall shew in this Circle in it's owne Angle yet it was almost worne out and defaç't but renew'd and refresh't by none but by Your Lordship onely When the Eye of Heaven in the Eye of the King had look't vpon You and pickt You out and plaç't You in an higher Orb You were first seene in this Circle of the Ballance of Trade Other faire Pieces You had but this was Your Master Piece because all the rest had reference vnto this For all your services done to The King and in The King The Kingdome of what Longitude or Latitude soever those Pieces were you tryed them all by this Scale You discerned the Right from the Oblique by this Circle by this Parallel The Oracles of Apollo being ask't when the warres of Greece should haue a Period Replyed when they could Double the Cubique Altar in Delphos which Plato expounded to them to be an answer in reproof of their ignorance in Geometry For the Doubling of the Cube in Solids P. Ramus Geom. lib. 4. and the Quadrature of the Circle in Plaine is a Mathematicall probleme not to bee knowne without the knowledge of that Art And surely if any man aske when we shall haue an end of this decay of Trade it may be answered when Your Lordship will Double this Cube and Quadrat this Circle of Commerce in the Ballance of Trade Which prooue's a Hercules labour vnto Others but will be easie vnto You because You see with Your Owne They with others eyes And hence it is that wee here below haue had so much stirre about Malyne's Par the Parity and Disparity whereof amongst ignorant men is made a Mystery in Exchange and to haue in it a great deale of Causality of the Decay of Trade But we are happy in Your Lordship which can easily discerne this Flemish from our Sterling Standard No glosse no false face can deceiue Your Lordships sight For as You were Of vs and now You are farre Aboue vs so can You iudge as farre Beyond vs as You are Distant from vs. I shall therefore bee a Suitor to Your Lordship that if there be any place or vse in the whole Circle of Commerce for Malyne's Par of Exchange that Your Lordship will let him bee the Master of that office when it is Created if not that Malynes may know the price of these paines to teach vs a new doctrine which we never learnt of Your Lordship and with such counterfeit stuffe to abuse The State which happely doth enioy Your Lordship and in You the knowledge of Commerce Your Ballance of Trade my Lord will soone discover the lightnes of this vanitie That not This was Your 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 let it bee Your 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 also That was the Foundation let it bee the Consummation of Your Noble building Let none build vpon Your Lordships foundation finish it perfect it Your Selfe Your Selfe shall haue all the honour Goe on therefore Noble Lord Spartam quam nactus es constanter tueri You are the Mirrour of Merchants the Luster of London the Renowne of your name the Beautie of Your Familie the Glorie of Your Countrie an Honour to Nobilitie and the Choice of the Choicest King Honour His choice in the choicest service You can doe to So Good to So Great a King Adorne the Nobilitie doe good to Your Countrie Embellize Your Familie make Your Name more and more Noble loue London and make much of Merchants And I pray God with encrease of Honour giue you encrease also of the gifts and graces of Gods Spirit without which You can doe none of these and with which You may doe So and So and More also The Lord of Lords giue You fauour with God and Man and conserue Your Lordship long Regi Gregi mihi to The King The Kingdome And last of all to him that 's least of all But Affected most of all to doe your Lordship seruice EDW. MISSELDEN TO THE GENTLE AND Iudicious Readers GEntlemen I had hop't in a cause of such consequence as is the Restauration of Trade wherein all of vs by Sympathie
is not strange that hee traduceth me when hee dares be so bold with the Nobility of the Kingdome thus I haue these forty yeares spent much time and charges at the pleasure of great Personages Epist. p. 6. and nothing did encounter me but ingratitude A Very scandalous aspersion layd vpon the Nobility of the Kingdome §. 4. And it is much more vnlikely for him to deserue then not to receiue more then his desert of any great Personage His time and charges if hee hath spent any are more likely to haue beene spent in proling Proiects and I wish all were so serv'd that follow that trade Nay will you heare him what he sayes of the whole Kingdome The Kingdome of England would haue beene more sensible of the like losse Little fish P. 18. if the hostile depredations heretofore made had not supplyed the same VOx profectò pecudis non hominis §. 5. What is the man madde hath he no lesse a crime to accuse the Kingdome with then with Depredation with robbing and pilling and poling It s pitty such stuffe as this should passe the Presse I leaue him and it to the iudgement and censure of the State But by this time I hope this Captaines passion 's past and hee come to himselfe for now he professeth to speake ingeniously although before hee spake without feare or wit Now he will discourse of Merchants of whose profession himselfe would seeme to bee though by vsurpation onely To speake ingeniously P. 4. Merchants cannot enter into consideration of the quantity of forraine Commodities imported at deare rates and the home Commodities exported at lesser rates respectiuely in former times by the disproportion whereof commeth an evident ouer-ballancing of Commodities Merchants do not regard whether the monies of a Kingdome are vndervalued in exchange by the inhansing of moneys in forraine parts whereby our monies are exported when the exchange doth not answer the true value by bills and the monies of other Countries cannot be imported but with an exceeding losse which every man shunneth True it is that they obserue within the Realme to keepe the price of money at a stand according to the Kings valuation but in forraine parts they run with the streame headlong downe with other Nations without consideration of their owne hinderance Merchants doe not know the waight and finenesse of monies of each Countrey and the proportions observed betweene gold and silver nor the difference of severall standards of coyne a matter so necessary for them to know to make thereby profitable returnes of the provenue of our home Commodities either in Money Bullion or Wares Finally Merchants seeking their Privatum Commodum take notice onely of what is prohibited and commanded whereas it may fall out also that to require their opinion for the reformation of some abuses they may bee thought many times as vnfit as to call the Vintners to the consultation of lawes to be made against Drunkards A Las poore man §. 6. how shall hee speake Ingeniously or wittily that hath no Genius at all His speech bewrayeth his want of wit and honestie No marvell that in page 64. he confesseth that to the iudicious Merchants Little fish P. 64. 48. be knoweth he hath giuen cause of offence to haue written so much in the defence of Exchange and in page 48. that hee hath made himselfe odious to his owne Nation It is an ill bird that foules his owne nest And surely if Malynes had learn't any good maners or but common humanity or had himselfe ever beene Merchant Moderne or Ancient he would never haue abused so many worthy Persons of that profession of ours of others yea of his owne Nation amongst which as well as ours that I may giue them their due there are many learned and expert Merchants that are asham'd of his ignorance and folly For who can enter into consideration of the quantitie or qualitie of Commodities whether natiue or forraine exported or imported deare or cheape comparable to Merchants And if the Ballancing or ouer Ballancing of trade by the disproportion therof can be said to be evident to any surely it can be evident to none more then to expert Merchants Or who are more quicke-sighted into the values of monies both domestick and forraine gold and silver waight and finenes then Merchants whose continuall practice it is to pry into the price and value of all things For there is no Merchant of any experience but as he hath one eye vpon the value of his Commoditie so hath hee the other eye vpon the money both Intrinsique in the inward value or finenes and Extrinsique in the outward denomination or account as it is currant in euery Countrey together with the course of Exchange whither he doth direct his trade Otherwise if the money rise in denomination aboue it true worth in valuation and the Exchange also rise accordingly if this Merchant doe not raise the price of his Commodity in due proportion answerable thereunto he shall bee sure to come home by weeping crosse how ever hee make his returne whether by Exchange or in Money Bullion or Wares And is it not lawfull for Merchants to seeke their Privatum Commodum in the exercise of their calling Is not gaine the end of trade Is not the publique involved in the private and the private in the publique What else makes a Common-wealth but the private-wealth if I may so say of the members thereof in the exercise of Commerce amongst themselues and with forraine Nations And by your leaue Malynes who are more fit then Vintners if not to execute yet to consult of lawes against Drunkards or Merchants to vnmaske the mysteries of Mounte-bankes Iugglers and Imposters of trade I marvell who made Malynes a Law-maker for Merchants if he be so ignorant of their profession Hee should haue beene called before he came to this Councell The profession of a Merchant is more noble then to be so disabled and disgrac't by such a fellow as Malynes is Merchants are of high account in all parts of the world in times of peace and in times of warre Merchants are wont to be supported of Kings and Princes cherished of Nobles favoured of States-men honoured of all men disgrac't of none because the strength of Kingdomes the revenue of Princes the wealth of every Cōmon-wealth hath a Correlation with this Noble Profession Merchants are wont to make it their glory to advance their fortunes renowne their names embellize their houses beautifie their families with the honour of this faculty and to perpetuate the same vnto posteritie as an hereditary title of honour vnto their name and blood And this is it that hath made many houses and families of Merchants famous in forraine parts and maketh those Common-wealths flourish where there is such a Spring such an Of-spring For where the father doth thus ingenerate his sonne and the sonne doth not degenerate from his father there the Estate is kept entire in it's
last And it were happie for the Kingdome that if all the other Trades thereof were brought into a Ballance they could produce such a foot of Accompt toward the advancement of the Exportation beyond the Importation as may be found alone in the Merchants-Adventurers Trade But this worthy and famous Societie needeth not my testimony nor can his obloquy detract from it that hath alwaies obtained such honourable approbation of the State from time to time MAlynes must also haue a fling at the French Company P. 15. §. 19. that the Merchants thereof do also hinder the Ballance of Trade by bringing in wines too deare But if the rate of the Crowne be risen from 64. to 75. souls in exchange betweene England and France then our Merchants that deliver their mony here doe receiue so much the more there whereby they may afford their wines the better cheape And if the wines bee bought deare and our Natiue Commodities sold deare what doth this hinder the Ballance of trade And if there were no other cause of dearnes of those or other wines or other forraine Commodities then the price they cost abroad or the vnder valuation of our Exchange at home which hee so much talkes of here and elsewhere and is nothing else but a meere Petitio principij A begging of the question without any truth or proofe neither Merchants nor Trades-men could iustly complaine of the dearenes of forraine Commodities THe Levant Company also hee will not let passe without some censure P. 26. §. 20. The restraint forsooth of Corints maketh no Free trade You may see by this what freedome of trade it is that Malynes meanes He would faine haue Corints come in againe in Flemish bottoms that Strangers might bee imployed and our owne Ships and Men lie by the walles That all sorts of men might come into that and all other Companies how vnfit soeuer 〈◊〉 such men let in as would let in the Strangers trade with them The trade of the Levant Company is managed by many graue expert discreet Merchants into whose Society those that are of quallity may bee admitted for a reasonable consideration The fourth cause of our want of money P. 26. in Malynes account is the great want of our East India stock whereas most men would haue expected that the ready monies sent in Reals of Plate to make the employment of the sayd trade should rather haue been mentioned THis Company also §. 21. that deserveth so much pitie cannot escape Malynes envie For here he endevoureth closely and cunningly to insinuate that the cause of our want of money is the ready monies sent to the East Indies in Reals of Plate Wherein the East India Company hath againe and againe satisfied the State that first they carry away none of the monies of this Kingdome next that they furnish themselues from forraine parts of all that they send out and lastly that they keepe themselves within the compasse of his Maiesties gracious grant having sent out much lesse even of forraine money then they might and had need to haue done from time to time And if it should be granted that some of that money which is brought in for their vse might also be brought in for the Kingdomes vse if their trade were not yet can it not be denyed that the increase of the stocke of the Kingdome by that trade is incomparably a farre better and greater meanes to bring in treasure into the Kingdome from other parts of Christendome then the other can bee imagined to hinder the same And whatsoever is now carryed out by the English would be carryed out by the Hollanders if this trade of ours were not Wherein the action it selfe and the disaffection of Malynes and others of his minde doe seem to exact from me a word or two of the benefites that may arise to this Kingdome by this trade Those I shall reduce in a word either to such as concerne the Trade or such as concerne the Treasure of the Kingdome In both which consists the happines of every Common-wealth Now the Trade of this Kingdome may thereby be encreast in Stock in Strength In Stock for one hundred thousand pounds imployed in that trade and returned from the East Indies in Spices Callicoes Indico besides the hopes of the Persian trade of Rawe Silks will yeeld Fiue hundred thousand pounds to this Kingdome in encrease of Stocke In Strength for this trade will yearely imploy not so little as Ten thousand tunnes of shipping and Three thousand Marriners Carpenters and other Artificers in the First Employment out and home and almost as many more in a Second Employment after they are come home by way of transportation of these Indian Commodities from hence into all parts of the world Which is an excellent meanes to advance our Navigation and to employ our Multitudes of poore The Treasure also of the Kingdome may thereby be abundantly encreast both in respect of the Revenue of The King and of The Kingdome Of The King in the encrease of Customes which alwayes encrease with trade Of The Kingdome in the encrease of treasure which is not as some think caryed out but rather conveyed in through the channels of this trade For first the Treasure exported from hence into the East Indies is not dig'd out of any Mynes of our owne but is purchased from forraine parts for returne of such East India Commodities as the Kingdome cannot spend and are therefore exported from hence into other parts of the world And next it must be considered that if One hundred thousand pounds stocke sent out from hence purchaseth Fiue hundred thousand pounds returnes from the East Indies and this Kingdome at the most spendeth but one fourth part thereof all the residue being issued out must needs procure the Kingdome so much ready money for returne thereof as the value of the goods amounteth to or at least such other necessary commodities for the Kingdomes vse in stead of that money For which either so much money must haue gone out to procure the same or so much lesse money must haue come in as those Commodities would amount vnto But every one of these particulars would require a more large and serious discourse then the limitation of my pursuit of Malynes will permit I shall therefore leave this subiect to him that hath already so worthily laboured therein of whom Mr. Tho Mun in his discourse of the East India trade I hope it will bee thought no flattery if I say that his observation of this trade his iudgement in all trade his diligence at home his experience abroad haue adorn'd him with such endowments as are rather to bee wisht in all then easie to bee found in many Merchants of these times I shall also leaue the action to the Royall protection of his Maiestie to tender it as a Elower of his Regall Crowne and dignity The rather because this also is a Flower which Openeth with the Rising of
the Sunne and Shutteth when the Sunne-setteth It is subiect as all great Actions are to Fraction abroad to Faction at home Both and either are evill Engines to subvert Companyes yea Kingdomes also But when the Sunne ariseth in his glory all these foggs and mists will vanish away His Maiestie vouchsafed to descend from his throne of Maiestie into that late Colloquy with the Dutch And with the indefessiue paines of his owne Royall Person and the continuall labour of the Lords hath at last reconciled all the differences with the Dutch much more will He not suffer any discord amongst His owne All which Warres and Iarres being husht and over-blowne and the trade pursued with the Grace and Favour of his Maiesty Good order and government in the Company and Vnfeigned amitie and vnitie one with another there cannot but be great hope by Gods blessing of a Glorious harvest from so Gracious a Seed-time and I hope that those that haue Sowen in teares shall in due time Reape in Ioy. Sr D. Diggs in his Defence of the East India Trade Ther 's a Noble Gentleman of this Kingdome did once put the Dutch in minde of their owne Embleame Si Collidimur frangimur If the Potts knock they will quickly cracke It was then taken for another Meridian but it may serue for London and Amsterdam and the East Indies also But Malynes taketh notice of Master Mun's Discourse of the East India Trade P. 27. whereby he is forced to confesse that the employment of the East India Company is very profitable and necessary That the gaine of the Trade is very good That thereby the encrease of the stocke of the Kingdome is very great That the same is a meanes to bring in much Treasure and yet like himselfe kick's downe all this at once with his foote concluding with this abhominable vntruth That the vnder-valuation of our monyes in Exchange P. 28. diverteth the same and that the losse thereof is greater to this Kingdome then all the monies employed to the East Indies commeth vnto So that this man you see can Simul sorbere flare he can be with them and against them and all with a breath The fifth cause of the want of money P. 30. in Malynes Arithmetique is the Warres of Christendome Touching the exportation of monyes by the Warres of Christians P. 31. where he declareth an vrgent instance that the Riecks Daller is raised from two markes Lubish to twentie markes Lubish in many places of Germany whereby abundance of money is drawne vnto the Mints of other Countries from all the Mynes and parts of Christendome herein he is much mistaken for when monyes are inhansed they are never carryed to the Mints to be converted into other Coine OR rather Malynes hath need of an Interpreter §. 22. to helpe him vnderstand what I haue said in plaine words For I haue not so much as inferred that which he here concludeth that the Riecks Daller being inhansed to twentie marks Lubish is carried to the Mint to be converted into other Coyne But rather that the Riecks Daller and other monyes of Germany running there so high hath drawne over abundance of our money which hath there beene converted into their Coine And this nor he nor any man can deny And that the Riecks Daller then went at twentie marks Lubish in Silesia Austria and Moravia and the parts adjacent both the Souldiers that haue received them so in pay and the Merchants both English and Dutch that trade in the Linnens of those parts will abundantly satisfie any man that doubteth in this matter In so much as it hath there beene observed for a great indiscretion in the Boores or Countrey people of those parts to take the Riecks Daller at so excessiue an high rate in payment for their Linnens and not to raise the price thereof answerable therevnto Which hath beene the cause that the Linnens of Germany haue these two or three yeares last come thence so cheape notwithstanding the Warres which naturally are wont to make things deare because they haue beene bought with money given out of so high a rate and the Commoditie not raised Which quite overthroweth another of Malynes fallacies that wheresoever the monyes are inhansed There the Commodities are also raised according to the money inhansed P. 12. And as well is he over-seene in Aristotles termes of Action and Passion thus No marvell therefore that he doth invert things P. 38. and runneth into a Labyrinth without distinction betweene the thing Actiue and Passiue by approving money to be the rule and square whereby things receiue estimation and price And yet commending the commutation before money was devised to be coyned Aristotle saith that Action and Passion are meerely Relatiues and that they differ no more then the way from Thebes to Athens and from Athens to Thebes We will therefore leaue this Merchant to walke betweene both vntill he can discerne the one from the other BY Malynes sentence when I speake of money and merchandize §. 23. and doe not misapply therevnto his improper and ignorant termes of Action and Passion I runne into a Labyrinth Which termes he hath every where worne so thred-bare that they looke like himselfe Neither is it possible for any man liuing to vnderstand what he meanes by them or to imagine that himselfe knowes what he would say of them And I pray you what indiscretion is it to approue of money to be the rule and square whereby things receiue their estimation and price and yet commend the Commutation of wares for wares before money was devised As for his Quotation of Aristotle he vseth him as others whom he abuseth and vnderstandeth Action and Passion as well as he did Matter Forme and Privation Alas poore man how should he vnderstand Aristotle that hath neither wit nor art For if it should bee granted that Action and Passion are Relatiues Yet money is the thing Actiue commodities become the thing Passiue Litle fish p. 15. The exchange of monies is in effect like the instrumēt that striketh the clock being therein the thing Actiue commodities and monies are therin become things passiue ibid. page 6. doe's that prooue money to bee Actiue and commodities Passiue as hee here inferreth and elsewhere affirmeth page 15 And why then doth he in another place say that the Exchange is Actiue and Commodities Money are Passiue page 6. But that in truth the man knowes not what hee sayes Or if either or neither of them were Actiue and Passiue what is that to the thing here by him brought in question whether Cōmercium be Cōmutatio merciū or not A change of wares for wares or money for wares As if forsooth hee would haue no difference made betweene Money and Commodities in that his distinction ignorantly supposing in the one that Aristotle takes Action and Passion and the way betweene Thebes and Athens to be one and the same thing and
languages is both lawfull and laudable And thence it is that Bodin Bodin de Reg. that great Polititian of France in his bookes De Republica and therein also of Merchants and Merchandize doth so oft cite Hebrew Greeke and Latine testimonies The like doth Grotius that learned Netherlander in his Mare Liberum his Free Sea trade Grotius in Mare lib. and other of his Workes And this did that famous Orator M. T. Cicero the Master of Eloquence De Off. lib. 1. both practice himselfe and command to his sonne Semper cùm Graecis saith he Latina coniunxi neque id in Philosophia solùm sed etiam in dicendi exercitatione feci idem tibi censeo faciendum I haue alwaies saith the Orator ioyned Latine with Greeke neither haue I done that in Philosophy onely but also in the exercise of declaiming and the same I thinke fit for thee to doe Besides it is against the rule of Iustice that the vse of Testimony should be denyed to any man in speech or writing For there is nothing so cleare but may require Testimony either for confirmation or Ilustration of the matter to which it is applyed And the want of Testimony is the want of Authority also P. Ram. de Dialect cap. 32.33 Now all Testimony may be sayd to be either Divine or Humane Divine as the Holy Scriptures Humane as the Law it selfe or Illustrious Sentences The Testimony of Law is of the Written or Not written Law The Testimony of Illustrious Sentences consists in Maxim's Principles Proverbs and the Sayings of Wise men of all Nations and in all Languages Now you cannot do an Author a greater honour then to vse his owne words least in translating of him into another tongue you translate him also into another sense as Malynes doth Aristotle I know it is growne in vse in this Kingdome to cite in speech and writing the Translation for the Originall But surely it is more common then commendable Because it tends to the losse of time and brings no benefit to the Auditor to heare a double translation For if the Text be Hebrew and it bee rendered in Greeke or Greeke and rendered in Latine or as the manner is to cite Latine for both neither the Author hath any honour nor the Auditor benefit more of the Latine then of the English because they are both Translations And if there be many Auditors that vnderstand not the Originall so are there not a few that vnderstand not the Latine Translation also Which vse of the Latine Translation hath brought out of vse the most necessary and learned Languages Wherein ther 's not an Iota in the Greeke nor a Title in the Hebrew without a mystery In which last and best our English tongue hath as great a part as any other Language of the Christian world which I speake for the honour of our Language and the encouragement of those that delight in Tongues And thus much briefly for Languages and for defence of those which I haue vsed for divine and humane testimony which in Malynes sentence doe seeme Impertinent THe third cause of the decay of Trade P. 41. §. 26. in Malynes accompt are Litigious Law-suits To the Efficiency whereof Malynes cannot altogether agree but rather to the Remedie But I shall willingly pardon him that for he that is so ignorant in the Essentiall causes must needs be nescious in the Efficients also I would there were no cause for their sakes whose case it is to dispute this Causalitie Whereby many of his Maiesties louing Subiects are deprived some of their liberties I had almost said of their liues many of their livings Wherein I doubt not but the graue sage and learned Iudges the Reverend Fathers of the Law will at the last consider and consult of some effectuall meanes for shortning of the time of Suits and lessning of the charge of Law Amongst whom double honour belongs to him that governes so well and labours so much in the Word and Doctrine Good lucke haue thou with thine honour Ride on according to the Word of Truth and moderation of Iustice The Spirit of Elijah resteth on Elishah Walke in his Steps who liuing honored thee and dead liueth and is honored in thee Sic tibi conting at viuere sicquemori Malynes in the next place though in a wrong place takes occasion to speake of Ann o 1588. And denieth that the Kingdome was then in such great distresse to be termed in Articule temporis when the Merchants-Adventurers supplied a Shippes lading of Powder and Shot from Hamburgh I pray God grant we never know the like distresse nor ever be wanting to acknowledge so great a deliverance Malynes fourth cause P. 42. is the Fishing Wherein he is better then his word for he concurreth with me therein also And is not the neglect of Trade the decay of Trade And is not the Strangers pulling the bread out of the Natiues mouthes the decay of Trade Therefore proper enough Malynes But because here he wants fuell for his fury against me like a mad man he strikes the next man he meets And no lesse then the State first and diverse worthy Merchants next P. ibid. Against the State he dares say That this Action of the Fishing hath beene in continuall agitation aboue thirtie yeares to make Busses and Fisher Boates but the Action is still interrupted because other Nations doe finde too great favour and friends here to divert all the good intentions of such as haue imployed their time and good meanes therein And for the Merchants hee accuseth the Merchants-Adventurers East-land Merchants and the Muscony Company to haue opposed this cause at the Councell board And as if hee were a Clerke of the Councell takes vpon him to set downe ten severall articles which were there had in consultation with the Lords For his Scandalum Magnatum I remit that to his former reckoning where he hath more then enough to answere And for his accusation of those worthy Merchants I am perswaded that there are none of all his Maiesties Subiects can be more ready and willing then they to further so noble a designe From the Fishing hee comes to the Clothing P. 45. which he desciphers for the fift cause of the decay of Trade Wherein also hee concurres with mee notwithstanding his challenge Neuerthelesse for want of other matter to fill vp the pages of his waste paper hee turne 's himselfe to the Dying and dressing Proiect and sayes thus I cannot omit to obserue the Practises which were vsed by combination with other Nations abroad P. 46. and domestique Intelligences at home whereby many good actions are overthrowne to the generall hurt and with little advancement to the particular HEre Malynes endevoureth to lay a Tacite and secret aspersion on the Merchants Adventurers §. 28. but not being able to produce any ground for so malicious a scandall is obnoxious to punishment and ought to bee taken for the Intelligencer himselfe
Exchange in all places And thence it is that the King of Spaines mony is so soone recented and felt of all the Exchanges in all places round about For his monies that are yeerely disposed for payment of his Soldiers in the Low Countries whether Exchanged with the Genoaises or trāsported in Specie are first felt in the Exchange of Antwerpe and afterwards in all the other Exchanges as of London Paris Lions Roan Amsterdam Delft Middelburgh Hamburgh Venice and elswhere wher Exchanges are in vse which for that cause commonly follow the Exchange of Antwerpe And therefore as all other Naturall things must haue their course so also must Exchanges and will no more endure a forst Par to be put vpon them then the market will endure to haue the prises of all things prefixed or set But yet to come a little closer to Malynes §. 17. let vs leaue 1586. and the vncertaine rates of monies and Exchanges that haue been euer since and take the present state of the time and the Intrinsique and Extrinsique value of our monies and of the Low Countries and the rate of the Exchange as it goeth at this day and bring Malynes Tenet to this touchstone And amongst other Species because we haue had so much dispute about the Spanish Reals and that these are all one in Intrinsique value or finenes with our mony that is a leauen ounces two peny waight fine In Great Whale Pag. 314. These Malynes taketh notice to be now set in the Low Countries by a Placcaet or Proclamation published the 21. Iuly 1622. at 2 Guilders 8 Stuyuers or 8 shillings Flemish the piece Now 4 ⅜ Reals of 8 are equall to our 20 shillings Sterling in the Vnited Prouinces in Extrinsique and Intrinsique value and both are equall to 35 shillings Flemish which is the present rate of the Exchange The Reall of 8. waigheth in the Low Coūtries 17. English or penny waight 25. ases or grains And the English shilling waigheth 3. English or peny waight and 28. ases or graines For 4 ⅜ Reals of 8 waigh 77 English or Peny waight and 25 ⅜ Ases or Graines and 20 shillings Sterling waieth 77. English and 16 Ases which is but 9 ⅜ Ases difference in 35 shillings Flemish which is not a peny Sterling in the whole Againe 4 ⅜ Reals of 8 at 2 Guilders 8 Stuyuers the Reall of 8 produce iust 35 shillings Flemish And 20 shillings Sterling at 10 ⅜ Stuyuers for euery Shilling as they are also set by the said Proclamation produce the very same value So then our English siluer mony and the Spanish Reals and the value of both in the Low Countries and the rate of the Exchange doe all agree Wher 's the vnderualuation then that Malynes maketh all this stirre about The Iacobus peece and the golden Rider contain 24. 8 1◠Peeces in the Flemish Mark. And our gold mony is rather ouer-valued for Malynes knoweth that the Iacobus peece and the Great golden Rider are of one finenes Now this Golden Rider by the Proclamation aforesaid is set at 11 Guilders 6 Stuyuers which is 37 sh 8. d. Flemish And the Iacobus peeces proclaimed for Bullion The cause of plenty of Iacobus peeces brought into England But if you will reckon them but at the price of the Rider and at the rate of the Exchange aforesaid the gaine is 10 d. Flemish in a peece to bring them from Holland into England For indeed the Iacobus peece and the Double Rider being of one finenes and the Iacobus peece proclaimed Bullion ought there to be valued vnder the Rider so much as is the coynage of the Rider But the Iacobus peeces being now so much sought after there to be brought ouer hither the price of them is raised 4 d. Flemish aboue the Rider viz. to 38 sh Flemish and yet abundance of them are still brought ouer by Dutch and English or els our complaint of want of mony had been farre greater in this Kingdome What vse is there then of Malynes Par §. 18. Or rather what Abuse would there bee by such a Dispar which hee presseth so hard and wherewith he would oppresse vs much more For vnder the colour of the vnderualuation of our mony in Exchange which I haue shewed to bee but Imaginary and a dreame of his own weake braine hee would bring a Reall losse of 20. in the hundred by raising of the Exchange vpon all the English Merchants estates in Germany and the Low Countries and by a secret conueyance would conferre the same vpon the Stranger which would all fall vpon the Cloth Trade of this Kingdome For all men know that in England the Stranger is commonly the Deliuerer of mony and the English the Taker Because the English commonly taketh mony at home either to draw home his meanes from forraine parts or els to inlarge his trade And the Stranger is the Deliuerer of mony here because when he hath sold his forraine Commodities here he is to remit his mony home by Exchange But in forraine parts the English is commonly the Deliuerer and the Stranger the Taker because the proceed of the Cloth and other the natiue Commodities of the Kingdome sold in forreine parts administreth continuall occasion to the English of Deliuering of mony for returne thereof By meanes whereof this great losse would falle vpon the English both in England and Beyond the Seas and become so much gaine to the Dutch For the higher the Exchange is in England the more losse it is to the Taker and the more gaine to the Deliuerer because the Taker must giue to the Deliuerer so much more Flemish mony abroad for the English mony hee taketh vp by Exchange at home as the rate or price of the Exchange is raised And the higher the Exchange is in Dutch-land the more losse to the Deliuerer and gaine to the Taker by the same reason because the Deliuerer must there giue to the Taker so much more Flemish mony as the Exchange is rissen for the English mony he is to receiue at home As for Example suppose the Exchange goe from London to Amsterdam at 35 sh Flemish for euery 20 shillings Sterling then if I take vp 100. l. Sterling of a Dutch Merchant in London I must pay him or his Assignes 175. l. Flemish at a Moneths time in Amsterdam Or if I am at Amsterdam and will there deliuer 100. l. Sterling for London and the Exchange from thence for London goe at 34. shillings 9 pence Flemish for euery 20. shillings Sterling then if I deliuer there 173 pounds 15 shillings Flemish I shall receiue 100 pounds Sterling at a moneths time in London But if the price or rate of the Exchange should be raised in London from 35 shillings to 40 shillings Flemish for euery 20 shillings Sterling which is much lesse then the suggested difference before mentioned then I must pay in Amsterdam 200 pounds Flemish for 100 pounds Sterling receiued
all the Custome is 97213. 04. 04  li. sh d. Which Totall being multiplied by twenty because the Custome is valued by twelue pence in the pound produceth the value of all the Goods Exported to amount vnto 1944264. 07. 01 The Net Custome of which value at twelue pence in the pound the Wrappers Fish and Goods shipt out by certificate deducted is the 2. summes first before mentioned and is 0077163. 04. 04 The Impost of Bayes Tinne Lead and Pewter which onely are imposed outwards amounteth to 0007370. 01. 05 The Merchants gaine fraight and petty charges vpon 1944264. li. being the whole value of the Exportations as aboue appeareth at 15. per Cento is 0291639. 00. 00 The Totall Exportations with charges Amount to 2320436. 12. 10 The Ballance of the Trade of the Kingdome is Creditor for all the Importations of the merchandize thereof for one whole yeare from Christmas An. 1621. to Christmas An. 1622. as followeth  li. sh d. The Custome of the Port of London 68280. 09. 01 The Custome of the Out-Ports 19579. 02. 06 The Custome of Wines of all sortes all other Merchandize heing included in the former is 03200. 00. 00 The Custome amounts to 91059. 11. 07 One third part thereof to be added for the vnderrating of Goods in Custome to that they are worth or cost is 30353. 03. 10 Also the allowance of 5. per Cento vpon L 91059. 11. 7. is 04552. 19. 07 The Totall Summe amounts to 125965. 15. 00 Which totall being multiplied by 20 produceth the value of all the Goods Imported to amount vnto 2519315. 00. 00 Fine Goods secretly conueied inwards more then outwards 0100000. 00. 00 The Totall Importations amount to 2619315. 00. 00 The Totall Exportations 2320436. 12. 10 The Remainder sheweth that there is more imported this yeare then was Exported by the summe of 0298878. 07. 02 So then wee see it to our griefe that wee are fallen into a great Vnder-ballance of Trade with other Nations Wee felt it before in sense but now we know it by science wee found it before in operation but now wee see it in speculation Trade alas faile's and faint's and we in it And now we are come to the End of this Ballance of Trade §. 37. The End of the Ballance of Trade which in Place is last but in Purpose first chiefs't according to that in Philosophy Finis est Principium in Intentione The End is the beginning in purpose and intent A Merchant when hee will informe himselfe how his Estate standeth is said to take a Ballance of his Estate wherin he collecteth and considereth all his Wares and Monyes and Debts as if hee would cast euery thing into the Scale to bee tried by waight Which is therefore in Merchants and Accomptants termes so called a Ballance of Accompt or a Ballance of Trade And to what End doth he this Surely to try in what Estate he is whether he goeth forward or backward whether he hath got or lost And if it appeare to him by his Ballance that his Gaine doth not answere his Expence the first and last is he must either Gaine more or Spend lesse or els looke to come behind hand A Father or Master of a Family doth thus also consider his Estate by comparing his Expence with his Reuenue and if he finde that his Expence exceedeth his Reuenue either he must Lessen his charge or els Consume his Estate The Royall Merchant the Regall Father of that great family of a Kingdome if Hee will know the Estate of his Kingdome Hee will compare the Gaine thereof with the Expence that is the Natiue Commodities issued and sent out with the Forraine Commodities receiued in and if it appeare that the Forraine Commodities doe exceed the Natiue either he must increase the Natiue or Lessen the Forraine or else looke for nothing else but The decay of Trade and therein The losse of his Reuenue and Impouerishing of his People So then the End of the Ballance of Trade may be said either to be Propior or Remotior There 's One End neerer hand There 's Another End farther off One End of it is to finde out The cause of the Malady The other to present a Medicable Remedy for the decay of trade Hic labor hoc opus erat in both these I bestowed my former time and paines Free Trade published An. 1622. in that Little tract of Trade wherein I marshalled those Causes and Remedies into their rancks in the best order I could and to which I referre those that desire more distinctly to vnderstād the same lest I should seem to Tautologize after Malynes manner in vnnecessary repetitions For as all those Causes doe forcibly conduce vnto the Vnder-ballancing of Trade so also the remouing of them must needs concurre vnto the Remedy thereof and you may safely conclude that vntill the Kingdome come to an Ouer-ballance of Trade the causes of the decay of Trade cannot be taken away for the Decay of Trade and the Ouer-ballance of Trade cannot stand together But if all the Causes of our Vnder-ballance of Trade §. 38. The causes of our vnder-ballance of trade contracted to Pouerty and Prodigality might be contracted in two words surely they might be represented in two extremities of the Kingdome at this day Pouerty alas and Prodigality The Poore sterue in the streets for want of labour The Prodigall excell in excesse as if the world as they doe ran vpon wheeles The one drawe's on the Ouer-ballance of Forraine Trade The other keepe 's backe in Vnder-ballance our Trade The one causeth an Excesse in theirs The other causeth a Defect in our owne In the one ther 's Too much in the other ther 's Too little would God there were a good Medium in both What 's the fruit of these things The Sunne blusheth to see the ground grones to carry the persons of sauage cruell blood-shedders vnheard of monstruous murtherers of these times who seeme to striue to out-strip Caiin and Iudas ' sinnes I want words to giue them titles I know not to whom to liken them vales to him whose they are It make's me afraid of Idlenes and Excesse that These and Those are all of one breed He that 's Idle is fit for any Euill He that 's Prodigall is a prey to the Deuill There was neuer more nor more excellent Planters and Waterers then in this age in this Iland in this City Our Hemishphere is sprinkled and spangled with glistering Starres like the Firmament in a cleere night If St. Hierome so long a gone said Hieron ad Paulinum De Hierosolymis de Britannia eaqualiter patet aula Coelestis Heauen is as wide open in Britaine as in Hierusalem what would he haue said if he had seene this our cleere light of the Gospell at this day in this Kingdome Is it possible then that such match-lesse desperate deeds of darknesse should be done in so cleare a light Is it not a wonder