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A07594 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. Misselden, Edward, fl. 1608-1654. 1623 (1623) STC 17985; ESTC S121074 74,584 148

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Maiestie conceived that their labours had beene published by my pen wherein as I must acknowledge the vnworthinesse of my person to receiue such guests vnder my roofe and the vnfitnesse of my pen to represent such pieces so also had I not the happines to attend Those then or These since in any of their assemblies as did other Merchants whereby my discourse might haue receiued some life and force from their worth and influence Their good acceptation of my poore endeauours together with the approbation of many other Noble and learned graue and iudicious is more then I could haue hoped to merit which wil abundantly support me and it against the Malignitie of one Malynes onely amongst thousands of better instructed and affected persons Whose palate being fallen is become so farre out of taste that he can relish no meats not cook't by himself and his owne cookerie hath in it so much of his Coliquintida his stirre about his Par that it hath spoiled all his pot of porrage Himself his subiect much more his rude stile and vnmannerly manner of writing deserue contempt rather then the honour of an answer But for some Gentlemens sakes of qualitie to whom I owe my selfe who doe professe they know not in many things what the man meaneth for when he that writeth vnstandeth not what he sayes how shall he that readeth For their sa●es I say not for his I am I know not how enclos'd within this Circle through the Center whereof I will draw a Diameter and diuide the whole Circle into two Semicircles In the first I will consider whether Malynes obiections scattered here and there in his little Fish and great Whale against my Tract of Free Trade may haue any place within the Peripheria or circumference of this Circle which if you please may also be the first part or draught of this Ballance of Trade In the other Semicircle I will demonstrate the nature and vse of Exchanges in generall and therein the Ballance of the Trade of this Kingdome with forraine Countries which also may bee the second part or draught of this Ballance of Trade But before I begin with either I am discomforted in both Because I am led within the lists to deale with a dastardly Combatant of whom Martiall could tell me long agoe that I might expect conquest but no contentment Seu victus seu victor eris maculere necesse est Martiall Si sit cum vili stercore pugnatibi Nor flight nor fight will bring thee but disgrace If that thou fight with one that 's vile and base Nor can there be any delight to those that are lookers on for Malynes received my Modell in some forme but returned it to mee pull'd in pieces all out of frame You know I considered Trade as it is Deformed as it might be Reformed Trade Deformed I considered in the Causes in the Effects In the Causes the Matter and Forme of Trade The Matter I shewed to be either Naturall or Artificiall The Forme occurred in Gouerned or Vngouerned trade The Effects reflected on the King the Kingdome Trade Reformed I presented in the Remedies to euery maladie a medicable remedie and these I pursued every one in their order But now these Rankes are broken this order's disordered nor Right nor Left hand file is left nor Front nor Rere Now I must follow my Leader whether you finde Posture or Imposture in his order t' is his not mine I shall therefore in this my Semicirculary Angle or first Draught of my Ballance first display Malynes Colours and then pursue his Postures in his owne Disorder His Colours are set vp in his Title thus The maintenance of free Trade according to the three Essentiall parts of Trafique namely Commodities Monies and Exchange of monies by bils of Exchange for other Countries THE FIRST PART Malynes obiections refuted WHat hope can we haue of this mans Treatise Section 1. when hee failes in his Title The Causes of things are wont to bee considered in the Efficient Matter the Forme and the End Some say these causes are either External or Internall Externall as the Efficient and End Internall as the Matter and Forme All agree in this that these two to wit the Matter and Forme of things doe constitute their Essence There is no place in the Essence of things for any third thing Commodities and mony are the Matter of trade the manner of buying and selling is the Forme of trade He that tradeth the Efficient gaine the End of trade So that the Matter and Forme of trade are the Essentiall parts of trade But if Malynes would make Exchanging of monies to be a kinde of buy-and selling and consequently to fall within the Forme of trade or as it is a merchandise to be the Matter of trade yet here 's no third thing to approue his Title Yea but Malynes will haue you take the Head of this his little fish and the fin or tayle of his great Whale and put them both together and then he will giue you an answer past peraduenture Will you heare what he sayes Great Whale Page 500. Concerning the beeing essence or Existence of things he wil make no difference betweene naturall things and things artificiall and so there is but two essentiall parts of Materia Forma albeit that some Philosophers haue established three beginnings of Naturall things Matter Forme and Deprivation The Matter hath no other office or function but the changing from one forme into another Deprivation giving an inclination thereunto for deprivation is an Imperfection so conioyned to the matter that without her if shee were separated nothing would bee ingendered and therefore in Heaven there is no Deprivation and consequently no generation ne corruption The Forme therefore giveth perfection to the thing and beeing also and without her the Matter is more imperfect then the eye is without the faculty of seeing or the eares without hearing But in Artificials the beeing hath her parts as Trafique hath three namely Commodities Money and Exchange so other things may consist of more beeings or simples wherein the termes of Art are not excluded COntra principia negantem minimè disputandum §. 2. It is against Art to dispute with a man that denyeth the Principles of Art This sentence sheweth Malynes grosse ignorance not to haue learn't to distinguish the Principles of naturall things from their Essence Wherein first he would make a difference betweene the Essence or beeing of things Naturall and things Artificiall And next he confoundeth the Principles of Phisicall or Naturall things with their Essence as if they were all one For although some Philosophers say that Matter Forme and Privation are the Principles of Naturall things yet what is that to their Essence Therefore to take off this Pterygium or thicke skin from Malynes eyes we will first consider the Essence of things and then their Principles For the Former of these there was never any Philosopher Heathen or Christian nor
betweene either Countrey Then was it agreed vpon that the English shilling should goe current in the Low Countries at 10. Stuyvers which making 20. d. Flemish produceth 33. sh 4. d. for 20. sh Sterling But that this 33. sh 4. d. was then or at any time since set for a Par of Exchange amongst Merchants I might produce more then 1586. witnesses against him For all the Merchants Bookes of his owne and our Nation kept there and here which are the Records of Merchants affaires will testifie that neither the Exchange in the yeare 1586. nor at any time since went constantly at 33. sh 4. d. but sometimes was higher sometimes lower then that rate For this is a custome amongst Merchants to keepe exactly the rates of Exchanges for all places every weeke throughout the yeare from time to time not only as one or other of them is a taker or deliverer of money continually but as it is a commendable propertie of a good Merchant to advise and bee advised of the rates of all Exchanges in all places from time to time So that this is Testimonium omni excepsione maius A clowd of witnesses against Malynes not to be denyed But for want of better proofe he will giue you a precept That the rule is infallible P. 14. when the Exchange doth answere the true value of our monies according to their intrinsique waight and finenes and their extrinsique valuation they are never exported because the gain is answered by exchange which is the cause of transportation A Lius peccat §. 15. alius plectitur The Stranger commits the fault and Malynes would haue the English punished A Rule most fallible most vnequall For it is the Stranger that raiseth the money in forraine parts and not the English It is the Stranger that carryeth away our money and not the English But it is the English that is here the cōmon taker of mony by Exchange not the Stranger Now if the gain of the carying out of our money be 10. or 15. per Cento to the stranger then the Exchange by his owne rule must bee set so much higher to answer the sayd gaine to prevent the exportation and consequently must fall vpon the English who is the common taker thereof What Malynes comes short in English you shall have in good Dutch I warrant you Nay hee will fit you with other feates of Exchange and Exchangers as To lay their money with gaine in any place of the world where Exchange lieth P. 16. To gaine and waxe rich and never meddle with any Princes Commodity or To buy any Princes Commodity with the Subiects money and not one penny of their owne c. IF every bird had her owne feather §. 16. this goose would grase with short wings All Malynes Pamphlet from one end to the other is piec't together with stollen stuffe So hee began so hee goes on In Milles his Customers Reply in his Epist ded p. 5. In Milles his Customers Alphabet and Primer p. 15. Traffique by nature admirable by art amiable stollen out of Milles his Reply His great comparison of Body Soule and Spirit enspired out of Milles his Alphabet and Primer And in this place here 's no lesse then 20. pieces together taken out of an old Manuscript In a Manuscript of Monies and Exchanges p. 12.13.14 which I haue seene in many mens hands in London the copie whereof I also haue my selfe whose Originall is therein sayd to bee a Record in the Exchequer of the 28. yeare of Edward the 3. From whence as also from the former Malynes hath stored himselfe of all this stuffe which hee would now faine vent to the world both in his Little fish and his Great whale for Mysteries in Exchange I might be infinite if I would trace Malynes in all his by-wayes But to saue that labour if you will take the paines to compare this his Little fish with his Great whale you shall finde it a meere Spawne thereof This swimming out of That That swallowing vp This againe and both nothing else but a Gallamalfrey or Dutch Hotch-potch of other mens Cookeries It 's pitty the Presse was opprest with such base stuffe or the same suffered to bee cast in the face of the world much more to bee presented to the King to such a King The Second cause saith Malynes P. 19. of the want of money in England is the superfluity of Plate generally in private mens hands Here he hath omitted to note the great quantitie of silver consumed in the making of silver threed spangles purles oaes and the like THe causes which I conceived of the want of money §. 17. Malynes received them from me by order not by number But for the matter hee obiecteth to mee of omitting the great quantitie of silver threed he hath my answere alreadie that it was improper for me to meddle with any impertinent thing vnles with him I should haue handled all Heterogeneall things out of kinde and out of order as he doth every where For this Manufacture of the silver threed his Maiesty had setled before I wrote and opened the Importation thereof to the Subject as in former times And if there be any cause to resume that action that Noble Gentleman who hath bestowed much time and charge therein will not stand in need of my defence nor be afraid of his defyance The third cause saith Malynes P. 22. of the want of money in England is the consumption of forreine Commodities YOu see we are now all in numbers §. 18. and the causes here pul'd in pieces by Malynes which I hope he found in some better forme He professeth in his title that his discourse and mine are Contraria iuxta se and yet in this and all the other causes he concurreth with me but goeth over and over the same things againe to spend time abuse the Reader and fill vp the pages of his Pamphlet with vnnecessary repetitions And for want of matter he here maligneth the Merchants-Adventurers and accuseth them to be guiltie of the Vnder-ballancing of Trade by selling the Cloth and other the natiue Commodities cheape and bringing in Silks Linnen cloth Cambricks Lawnes and other Commodities deare whereby the strangers Scale is made the heavier in the Ballance of Trade Which is a most vniust and scandalous aspersion laid on so worthy a Company by so vnworthy a Person For there are no Merchants of the Kingdome no dispraise to any that doe so much improue the price of the Cloth and the natiue Commodities abroad or dis-improue the forreine and sell the same so cheape at home as these Merchants doe And for bringing in of money and treasure into the Kingdome wherein is the benefit of bringing the Trade of this Kingdome to an evener Ballance with other Countries this Company therein exceedeth and excelleth all other Merchants Which trade alone hath brought in aboue 200. thousand pounds in Gold since September