in gold in times past Turqueses found in Malabar Turqueses being of Turquers colour by the day time and by night by the light greene they grow vpon a blacke stone whereof those retaining some little blacke veines are the better Iacinths in the Island of Zeilan are tender yellow stones Iacinths and haue commonly pimples or burbles in them Emeralds or Smaragds being hard and greene stones Emeralds found in the countrie of Babylon and other places of India were of great estimation before the quantitie discouered in the West-Indies many of them are counterfeit But by looking on them curiously towards the light the counterfeitnesse appeareth by certaine burbles like as the glasse doth which is not in the true stones although certaine beames appeare which true stones being rubbed on the touchstone leaue the colour of gold and the counterfeit the colour of copper for they are made of an extraction of copper The auncient Phylosophers haue determined that Sulphur and Mercurie being the originalls of all mettals are engendered of vapours and exhalations Originall of precious stones and the like origen they ascribe vnto all Precious Stones which caused Artists to take the same into their consideration both for the said Stones as also for Gold and Siluer whereof I do intreat more in the Chapter of Mines Royall c. All these stones being out of request with vs are to be bought for Russia and other places as the buyer findeth cause Pearles of all sorts are most found in the West-Indies which are Occidentall East-India Pearles and yet beare the name of Orientall Pearles which come from the East-Indies and although they haue more lustre they are of a brownish colour and somewhat inclining to the yellow and therefore of lesse estimation and price which at the beginning of our East-India trade was as followeth   ll s. d. Of one Carrat 1 ½ Pardaos is 0 7 6 Sterling Of 1 ½ Carrat 3 Par. 0 15 0 Of 2 Carrats 6 Par. 1 10 0 Of 2 ½ Carrats 8 2 0 0 Of 3 Carrats 12 3 0 0 Of 3 ½ Carrats 16 4 0 0 Of 4 Carrats 20 5 0 0 Of 4 ½ Carrats 25 6 5 0 Of 5 Carrats 30 7 10 0 Of 5 ½ Carrats 35 8 15 0 Of 6 Carrats 40 10 0 0 Of 6 ½ Carrats 45 11 5 0 Of 7 Carrats 50 12 10 0 Of 7 ½ Carrats 60 15 0 0 Of 8 Carrats 70 80 20 0 0 Aliofar which is small Pearle sold by the Iuera or Sorts which commeth frō the fishing of Comorin worth The 1 Iuera 330 reis The second 180 The third 80 The fourth 18 The fifth 8 West-India Pearles Anno 1587. And aboue this weight there is no proportion obserued but it is meere estimation as is noted in Diamonds especially in the West-India Pearles being of a clearer white water inclining towards blew whereof I bought a great quantitie of sir Francis Drake knight which he brought from Carthagena a citie of the Island of Santo Domingo being all vnholed and brute of seuerall sorts called Rostillo of 40 ss the ounce halfe Rostillo of 30 ss Cadenilla of 4 ll the ounce halfe Cadenilla 3 ll Pedraria of 60 80 peeces in the ounce 7 ll and halfe Pedraria of 100 to 110 peeces in the ounce 5 ll Also great vnproportionated Pearles called Barocos according to estimation and goodnesse as these prices were made at Paris and when they are holed or boared and stringed vp in foure sorts called Entreneto and put into boxes then they are sold one with another according to their sorts for 4 or 5 ll the ounce diuers flat Pearles seruing for buttons Round Pearle put vpon papers are sold by the peece according to their bignesse and fairenesse Seed Pearle to stampe for Apothecaries at 8 and 10 ss the ounce Round Pearles of all sorts of this water valued at Paris as followeth Of ½ a Graine 2 Solz tornois 2 d ⅖ star Of ◠4 Graines 2 ½ 2 d ⅗ Of 1 Graine 4 4 d ⅘ Of 1 ◠4 Graine 6 7 d ⅕ Of 1 ½ Graine 10 12 d Of 1 ¾ Graine 13 is 15 d ½ Of 2 Graines 16 19 d ⅕ Of 2 ¼ Graines 18 21 d ⅗ Of 2 ¾ Graines 30 3 ss Of 3 Graines 40 4 ss Of 3 ¼ Graines 50 solz 5 Of 3 ½ Graines 60 6 Of 3 ◠4 Graines 70 7 Of 4 Gr. Carrat 80 8 Of 4 ¼ Graines 90 9 Of 4 ½ Graines 100 10 Of 5 Graines 120 12 Of 6 Graines 240 24 Of 7 Graines 460 46 Of 8 Gr. is 2 Carrats 60 Pearles of a Carratt are worth now ten shillings and the other sorts vnder the same or aboue it accordingly I had 1600 of a Carratt which were sold for 9 ss and 900 of two Carrats sold for 36 shillings and many faire pendants whereof no price can be made in certaintie they must haue the due proportion of a Peare and be of excellent water Yellow Pearle is not worth halfe the price of the East India browne Pearle albeit they be a little helped to make them whiter for the Prouerb is true Quod natura dedit nemo tollere potest but if they be yellow accidentally then they will become very faire by the remedie following Take two ounces of white Argall or Tartar and one ounce of Mercurie sublimate and 1 ½ ounce of Allome put them together into a cleane pipkin or leaded pot poure vpon it the best Aqua vitae you can get and bind your pearles into a cleane clout and hang them in the pot and so let them stand ouer the fire one houre not touching any part of the pot and they will be faire and white If they be great round Pearles they may be scaled for naturally the Pearle is like vnto an Onyon scaling one vpon another I remember that a friend of my acquaintance called Mounsieur Hellman told mee many yeares since that during the minoritie of Philip the third late King of Spaine he shewed vnto him two excellent great round Pearles which he valued at ten thousand ducatts or three thousand pounds which the young Prince tooke in his hands saying Bocado por vn Roy A morsell for a King and swallowed them downe one after another The Merchant made account to receiue money for his Pearles but hee could not and was glad within two dayes after to take his Pearles againe which by the heat of the stomacke were become yellow comming to Antuerp a certaine Iew vndertooke to take off the vpper scale and so they were exceeding faire againe but diminished they were afterwards sold to the great Turke for aboue two thousand pounds starling Thus much for Orientall and Occidentall Pearles where note that the weight for Pearles in Seuill is lesser than the weight of Lisborne by eight in the hundreth the climate in the East is hotter than in the West and the water more faltish which causeth the diuersitie of colours In Scotland are many times
doth concurre and agree with the Lawes of Oleron whereof we shall intreat more hereafter Fredericke the second King of Denmarke at a Parliament holden at Coppenhauen in the yeare 1561 hath abridged as also set downe certaine Acts or Statutes for the ruling of Sea matters but for the most para agreeing also with the said Lawes of Oleron which you shall find in this Treatise set downe vpon euery occasion offered vnto me to make application of them in the Chapters following CHAP. XVIII Of the manner of Proceedings in Sea-faring Causes ALl controuersies and differences of Sea-faring Actions or Maritime Causes ought to be decided according to the Sea Lawes which tooke their beginning from Customes and obseruations and from them is the interpretation of the said Law to be taken and if any Case shall fall out that was not knowne before neither written downe and authorised as a Law then the same is to bee determined by the Iudge with the opinion of men of experience and knowledge in the said Sea-faring causes And herein is all conuenient expedition required that the matter may be summarily and briefly determined especially in case of shipwracke wherein delayes or protractions in Law is a crueltie to vex such afflicted persons Therefore to preuent appellations present execution and restitution of goods is vsed in causes of spoyle vpon caution first found by the spoyled to satisfie the condemnation to the Iudge if there bee iust cause found of appellation Witnesses in causes Maritime and to this end also it is permitted that witnesses of the same Ship may be examined although the aduerse partie bee not called thereunto Merchants and Marriners sayling together in one Ship may beare witnesse each to other and Marriners against the Master when they are free and out of his command The plaintife is to find suerties to pay costs and damages if he doe faile in his proofe and the defendant is to be put in caution to satisfie the sentence Iudicio cisti iudicatum solui If the defendant doe stand out or commit a comtempt by not appearing for to defend himselfe or his Ship or things challenged the Iudge of the Admiraltie may after foure defaults entred deliuer the possession of the said Ship or any other thing or part thereof to the plaintife putting in sureties for one yeare and a day and if the partie appeare not within that time then the propertie is finally adiudged to the plaintife And if he doe appeare within the time offering to pay the expences and putting in caution to obey and performe the definitiue sentence he shall be admitted But this caution or suerties are lyable absolutely for all from the beginning and cannot be discharged as a Baile may be at the common Law Difference betweene caution in the Admiraltie and baile at the Common Law of England bringing in the partie at conuenient time Summons and Citations are not needfull where the ship or goods in question are forthcomming but may be done in the same place where it lyeth or the goods are found If any man be arrested or troubled for the like matters he is presently to be discharged vpon suerties and especially Marriners because they shall not be hindered of their voyage which he may doe with so much goods or the value thereof as he hath within shipboord at the Iudges discretion for it is intended that otherwise trafficke and commerce is interrupted CAHP. XIX Of Buying and Selling of Commodities by Contracts THE buying and selling of commodities by contracts may bee distinguished three manner of wayes namely Regall Notariall and Verball The Regall contracts are made betweene Kings and Princes and Merchants which caused the Kings of Portugall to be called Royall Merchants For whereas the Venetians had the trade for Spices and other commodities of the East Indies Regall contracts called by the Ciuilians Solemne the Portugalls vpon the discouerie of those parts by Nauigation did bereaue the Venetians of that trade as by the reuolutions of time other Nations haue almost compassed that trade of Spices and taken the same from the Portugalls The Kings of Portugall had alwayes the one moitie of the Pepper by way of contract and for that they would contract againe with the Germaines or other principall Merchants of other Nations and of their owne to deliuer the same vpon a price agreed vpon the arriuall of the Carrackes at Lixborne according vnto which it was sold againe with reputation to other Merchants and dispersed into diuers countries and so was it also done for Cloues and Mace and sometimes for Indico and the payments were made by assignation in the Bankes of Madrill Lyons and Bizanson and sometimes at Florence and other places hereupon was the Contraction-house at Lixborne erected and named accordingly where the said Spices and commodities are brought and sold againe Such are the contracts which the King of Spaine doth make with Merchants for the prouision of Corne for his townes in Africa vpon the coasts of Barbarie as Ceuta Mosegam Tangere and other places the paiment whereof hath beene made againe by Pepper vpon some especiall contract and the Merchants haue thereupon also made other contracts with Merchants of the Low-countries to deliuer them that Pepper at Amsterdam and to take Corne in paiment But the case is since altered by the incorporating of the East-India trade Such were the contracts made by the French king Henrie the third with the great Merchants of Italie called Le graund partie for Salt which they by authoritie did ingrosse for the king and brought also from other countries by sole permission causing euerie household in all France to take a proportion yearely or to pay for it whether they had occasion to vse it or not which was an Italian inuention and for this they paied by contract vnto the king six hundred thousand pounds sterling being two millions of French Crownes yearely Such were the contracts which Queene Elizabeth of blessed memorie made with Merchants of London for the prouision of victuals and apparrell for the souldiours in Ireland during the late warres with the Earle Tirone which did amount to verie great summes of money insomuch that the seuerall contracts for apparrell came to ninetie sixe thousand suits of apparrell as I haue seene by the Records and Accounts extant in his maiesties Court of Exchequer All these and such like contracts are made by commissions granted for that purpose to some great officers of the kingdome who haue thereby authoritie to contract for the same with Merchants or others Notariall contracts haue partly dependance vpon the same Notariall contracts called Publicke for when those Merchants which haue contracted with Kings or Princes are to prouide sodenly those things which they haue contracted for or to dispose of the commodities which they haue bought or ingrossed into their hands Then they deale with other Merchants either to prouide them of the said commodities or to sell them such as they haue bought
the Sea is adioyning and in proprietie to bee esteemed accordingly taking their names of the Countries and Kingdomes adiacent or of their scituation as Mare Britannicum Mare Germanicum Mare Hibernicum and for scituation Mare Mediterraneum obserued by Cosmographers Historiographers and Mathematicians this is performed with the helpe of the Compasse counting of courses soundings colour of the grauell or sands and other wayes to designe Finitum ab ' iâ—finito By the Ciuile Law so farre as is expedient for the certaine reach and bounds of Seas properly apppertaining to any Prince or people wherein the Doctors of the Ciuile Law haue recorded excellent obseruations By the Law of Nation and Customes Baldus saith Vidimus de iure gentium in Mare esse Regna distincta sicut in terra Auda Ad legem 1. de ter diuisione In §. nullius in tratt de iâ—sula Bartolas doth in his opinion allow for princes and people at the sea-side Centum mitliaria which is one hundreth leagues of sea from their coast if they extend their protection so farre called by them Districtus maris territorium which is most plaine in those seas where the Isles of Garnesey and Iarnesey are so sensible and visible to the realme of England Visible Markes of Dominion or where there are such rockes or eminent marks as the Washes at the West seas thereof to which purpose Paulus a renowmed Ciuilian saieth That it is not needfull for him who would possesse himselfe of any land to go about and tread ouer the same but it is sufficient to enter in vpon any part thereof with a mind to possesse all the rest thereof euen to the due marches to be made apparant by the instruments of Geometricians And the like may be designed vpon the seas notwithstanding the soliditie of the one and the continuall flowing too and fro of the other This distinction of dominion hauing continued so many hundreth yeares needeth not to be corroborated with other proofe and arguments yet let vs note obiter That if the same were not distinguished as aforesaid Cases of ciuile Law or Admiraltie one borne vpon the seas should haue no countrie or nation to appeale vnto and a man dying intestate vpon the seas should minister occasion of question to know who should administer his goods and making of a Will how the same should be proued and executed by law without approbation of some Court or Iurisdiction whereas we find many Admiralls of the seas and their seuerall iurisdictions vpon the seas as deputies to their Princes or States who are alwaies absolute Commanders in their precincts according to the treaties and contracts made betweene Princes which are in the nature of lawes and inseperable of the said Princes right on the land concerning the possession of their Kingdomes or Common-weales as the fundamentall cause of their dominion wherein discontinuance of any part of their right cannot be pleaded against them The Kings of England neuerthelesse haue beene prouident and carefull herein for Historiographers haue recorded That King Edgar one of the Saxon Kings long before the Conquest made a suruay yearely of the foure great seas Mathew of Westm. and stiled himselfe lord thereof euen vntill Norway Ranulph Cestriensis and his progresse was most towards the North. It is also affirmed Anno 973. That the said King Edgar caused an inscription to be made vpon his Tombe for a monument calling himselfe Dominus quatuor Marea and as Papinian the Iurisconsult saieth In finalibus questionibus vete ra monumenta sequenda sunt Mare Britanicum But this for the dominion of the Kings of England ouer their seas Mare Hibernicum is not needfull For afterwards William Duke of Normandie after he had subduâ—d the realme of England by conquest Mare Germanicum caused himselfe not onely to be proclaimed King Mare Deucalidon but also that all the goods of the subiects were his and so caused the land to be diuided and yet was contented to change the title of a Monarchie by conquest into a Monarchie Royall and was also Lord of the said foure seas Io Bodinus de Resp. by the former assumpsit which had then continued 200 yeares and his progresse by sea was most Westward For when Princes or Kings do stile themselues by proclamation then the continuance thereof without opposition of other princes is holden and obserued as inuiolable and permanent Now King Henrie the second succeeding William the Conqueror Graftons Chronicle within one hundreth yeares did ioine Ireland to the crowne of England and did reduce Normandie and other places in France to the crowne taking as it were a new possession of the said seas and Henrie the first euerie yeare or within three yeares at the furthest crossed ouer into Normandie hauing taken Robert Duke of Normandie prisoner In the time of King Edward the third Chro. Malmesbuâ—e there was a disputation held with France concerning the fishing of the seas about Brittaine in which it was proued to belong to England Ioh. Hayward and thereupon Fraunce disclaimed therein By ancient records and Treaties c. as appeareth by the said King Edward the third his Proclamation yet extant Which arguments and contracts are as a law effectuall And here I must remember the singular care which the right reuerend father in God doctor Abbot now Archbishop of Canturburie A rare booke remoining with the Archbishop of Canturburie and Metropolitane of England hath had in procuring at his great charges for the good of our posteritie an excellent great Volume or Manuscript which was heretofore taken at Calice in France when the Spaniards tooke the same Anno 1596 and caried to Bruxels in the Low-countries whereof I haue had the perusall and made an Abstract of the Chapters of the same viz. The Treatie of Peace betweene Edward the third king of England and Iohn king of France for themselues and their eldest sonnes namely Edward the Blacke Prince of Wales and Charles Duke of Normandie Regent the French King his father being prisoner to the said King Edward which Treatie was made the eight of May 1360 in Britanie neere Chartres and confirmed at Calice whereupon sixteene Hostages were giuen to the King of England by the French King who was to come thither in person and to pay three millions of crownes for his ransome of two crownes to bee reckoned for an English noble called in King Henrie the eight his time Angell noble being some 750000 〈◊〉 sterling The ransome o' King Iohn of France The ship whereof vpon the one side did signifie the dominion of the seas whereunto old Chaucer the Poet did allude in Henrie the fifth his time This money was to be paied to weet six hundreth thousand crownes at Calice within 4 months after King Iohns arriuall there more foure hundreth thousand crownes within the yeare and so much yearely vntill the full paiment made
1500 Markes of Gold of eight ounces 1500 Markes of Pearles 1 Chest Emeraulds From Mexico For the King 1900 thousand Pesos of Siluer 1100 Markes of Gold For particular persons 2 millions in Siluer 64 thousand Hides 25 thousand ll Indico From Santo Domingo Island 35 thousand Hides 900 Chest Sugar of 1000 ll weight 22 thousand Kintals of Ginger 13 thousand Kintals of Logwood 50 Kintals of Salsaparilla 48 Kintals of Caniafistula 64 Roues of Cottonwooll All the Gold and Siluer was valued at thirteene millions and all the commodities at three millions whereof the King had twelue millions and one halfe De claro wherewith we conclude this Chapter of the Mines Royall and are moued to write also of other Mines and Minerals contrarie to our first intention but briefely as followeth * ⎠* CHAP. III. Of Mines and Mineralls THe next in order to be treated of are Tin Mines which are but few in number in all countries Tin Mines and in Germanie onely found somewhat plentifull but the Tin is blackish and corrupt so that our English Tin in Deuonshire and Cornewall is the only Tin of all the World which containeth foure ounces of Gold in a thousand whereof there is some twelue hundreth thousand made yearely It hath been sold for many yeares at an vnder value but his maiestie hath by way of Praeemption aduanced the price thereof which belongeth to the Dukes of Cornewall and consequently vnto the noble Prince of Wales Charles sonne and heire apparant to our soueraigne Lord king Iames. This Praeemption is letten to ferme to certaine Merchants and the gouernment of the Staneries with all the good orders obserued therein and the coynage of Tin to demonstrate the goodnesse is profitable to the kingdome and deserueth great commendation as is alreadie noted Lead Mines Leade Mines are found in all cold countries especially in Germanie in the dukedome of Brownâ—wike but it is blacke of colour and vntill it be refined it is vnseruiceable and consequently not vendible The old Duke had almost made a wall aboâ—t the citie of the sowes and pigges of Leade vntill our Leade became deere and scant and that an Antuerpian did teach them how to refine their Leade in taking away the cobble which is like vnto a knot in a peece of timber which made the Leade brittle and by his meanes all the Dukes Leade was sold in Italie Spaine and other places in France and elsewhere Scotland and Ireland haue many Leade Mines containing also Siluer The Leade Mines of England are scituated in diuers places of the kingdome but most in Darbishire in the hills of Peake Somersetshire and Wales There is great difference in the Ore as hath beene noted There are also many Lead Mines in Richmondshire vnder the countie of Yorke where I went to view them anno 1606 about Arkendale and the new Forest hauing prepared a long Yron boare of eighteene foot long for that purpose Description of many Leade Mines in Yorkshire and there I did obserue within the compasse of ten miles that the scituation of Arkendale iâ— betwixt two hills the one lying North called Windike and the other South-West called Moldersey adioyning vnto another hill called Pouncy lying West from Moldersey all belonging vnto the King and by lease vnto sir Iohn Maillorie knight There are also adioyning vnto it certaine other hills where lead Mines are as Swailedale where my lord Wharton hath his workes also Readhurst Cocka and Fellind being East from Wyndecke The Mines of Arkendale haue neuer been wrought to any purpose There is but three smelting cottages which do feed vpon the poore people and inhabitants thereabouts which at their leasure seeke for Lead Ore vpon sufferance and bring the same to the melting places where they fell the same for 20 or 24 ss the load giuing to the owners three or foure parts in ten as they can agree and one tenth to the Parson or Vicar of the Parish or Chappell A loade of Ore with them is as much as foure or fiue horses can conueniently carrie which by computation is some ten hundreth weight and is also deliuered by a measure called Load foure of these Loads will make a Fother of Lead of twentie hundreth their weight being 120 ll to the hundreth London weight so one hundreth of Lead Ore maketh but 30 ll of Lead which commeth to passe for that their manner of melting is by foot-blast and small furnaces with wood and charcoale Foolish maner of melting casting the Ore of Lead betweene them in small peeces and so still augmenting their melting which can yeeld but little the heat of the fire being choaked with the fewel and drosse of the Lead whereas flame is the greatest meane of melting of all mettaline Ores which require furnaces to be made accordingly where thirtie six or fortie hundreth may be molten together they melting three or foure hundreth There is no wood to be had but within two miles but sea coale and good peate is neere hand which may serue better cheape for they reckon 7 or 8 ss for the charge of a fother for the melting The Lead being cast into small Piggs of somewhat more than one hundreth weight are brought on horse-backe through Richmond to Burroughbridge being about thirtie miles distant and are conueyed by water to Yorke for 2 ss the hundreth and from Yorke to Hull for other two shillings so that a Fother of Lead with all charges will not stand in three pounds and there is a neerer way by Stockton on the sea-side about twentie and fiue miles which will lessen the said charges Now we are come to Yron mines Yron Mines whereof almost all countries in Europe are prouided which do much differ in goodnesse yet may be vsed according to the seuerall workes whereunto it is imployed as the Spâ—nish Yron seruing for Blades not so good for other things England hath great store of Yron Mines for by computation there are aboue eight hundreth furnaces The melting of it by flaming sea coale or Scots coale saueth a great deale of charges There are lately found more Yron Mines in Fraunce which Yron being made into bars is transported into Guinea Binea and other parts vpon the coasts of Africa where it hath continually beene in great estimation and now becommeth so aboundant that their profit is but small of those voyages and so it falleth out at this present for the price of Leade The Yron stone in Wales is found to differ from the Steele stone by meanes whereof a Germane made good Steele in barres Steele stone and also Gad Steele But the patent of sir Baesell Brooke for the making of Steele did hinder the proceedings therein and Germane Steele is best vntill of late that a Frenchman shewing the imperfection of ordinarie Steele caused his maiestie to make void the said patent and to grant another for the making of perfect Steele surpassing in goodnes the Steele of all countries So we find
CONSVETVDO VEL LEX MERCATORIA OR The Ancient Law-Merchant Diuided into three Parts ACCORDING TO THE Essentiall Parts of Trafficke NECESSARIE FOR ALL Statesmen Iudges Magistrates Temporall and Ciuile Lawyers Mint-men Merchants Marriners and all others negotiating in all places of the World By GERARD MALYNES Merchant Salus Populi suprema Lex esto LONDON Printed by ADAM ISLIP Anno Dom. 1622. DOCTRINA PARIT VIRTVTEM TO THE MOST HIGH AND MIGHTIE MONARCH IAMES BY THE GRACE OF GOD KING OF GREAT BRITTAINE FRANCE AND IRELAND DEFENDOR OF THE FAITH Most Dread and Gratious Soueraigne THe state of Monarchie must needes be the Supreamest thing vnder the cope of Heauen when Kings are not only Gods Lieutenants vpon earth and sit vpon his throne but also are called Gods by God himselfe in regard of their Transcendent Preheminences and Prerogatiues whereby they maintaine Religion and Iustice whichare the onely true supporters and fundamentall stayes of all Kingdomes and Common-weales so naturally vnited and conjoyned that where both of them are not properly there can be neither These high Attributes cause their Lawes to be sacred and consequently religiously to be obserued whereby Iustice is administred which is Distributiue and Commutatiue The Commutatiue part includeth Traffick which is the sole peaceable instrument to inrich kingdomes and common-weales by the meanes of Equalitie and Equitie performed especially by the Law-Merchant by reason of her stabilitie For albeit that the gouernment of the said kingdomes and common-weales doth differ one from another 1 In the making of lawes and ordinances for their owne gouernment 2 In the making of War Peace or Truce with forreine nations 3 In the prouiding of money within themselues for their safegard and defence 4 In the election of chiefe officers magistrates and 5 In the manner of the administration of Iustice wherein many mutations are incident yet the Law-Merchant hath alwaies beene found semper eadem that is constant and permanent without abrogation according to her most auncient customes concurring with the law of nations in all countries Great reuerence is due vnto Lawes at all times and hath beene in all ages Solon caused the Athenians to sweare to the obseruation of his Lawes during the time of one hundreth yeares Licurgus did imbrace a voluntarie perpetuall exile to haue his lawes obserued by the Lacedemonians vntill his return intending neuer to return and the Romans did suffer their old law of twelue tables though vniust in many points to decay by little little rather than to make a sudden alteration of it tending to the contempt of laws greater reuerence then is due to the Law-Merchant which hath proued alwaies firme and inuiolable VVise men haue obserued that happie are those Common-weales which are gouerned by Philosophers happier is that King who can wisely gouerne them but most happie is your Maiestie in whom true Philosophie doth raigne and prosper as vines do in eminent places by an inestimable treasure of an obseruing discerning and applying Princely judgement gouerning your kingdomes and dominions The consideration whereof accompanied with my bounden duetie hath emboldned me of late to dedicate vnto your sacred Maiestie a little treatise intitled The maintenance of free Trade wherein mention is made of this Volume which likewise is to be presented vnto your highnesse for it befalleth vnto me as it did to the Philosopher who by progression in wisedome endeauoring to attaine to the perfection of knowledge did perceiue that the neerer approaching thereunto seemed to him to be furthest off so my endeuours striuing to deserue some things at your royal hands seeme vnto me to merit least of all But being confident of your most gratious benignitie and superexceeding grace I do offer vnto your most judiciall eyes this Law-Merchant described according to the three essentiall parts of Trafficke with the means wherby the wealth of your Majesties kingdomes and dominions may be increased and preserued which being done by just and politike courses may properly be called the Preheminent studie of Princes grounded by Commutatio negotiativâ— vpon the rule of Equalitie and Equitie as aforesaid obserued by your High wisdome vpon the Predominant part of Trade which is the mysterie of Exchange for Moneys betweene vs and forreine Nations wherein your Highnesse doth surpasse all the Treatises and Conferences had by your noble auncestors and predecessors Kings with other Princes and States If your most excellent Maiestie therefore shall be pleased from the Zodiaque of your gratious aspect to cast some reflecting beames vpon the plaine superficies of this Law-Merchant euerie little sparke therein will become a flame and all Merchants and others shall bee enabled to draw by the Diameter of it Meridian lines of your royall fauour without which this Booke may be compared to a Sunne dyall which is no longer seruiceable than whilest the Sunne beames doe illuminate the same In hope of which superaboundant fauour I doe apostrophate this Epistle but doe multiplie my ardent praiers for your Maiesties most happie Raigne long to indure ouer vs to Gods glorie and our comforts Your Maiesties most loyall and obedient subiect GERARD MALINES TO THE COVRTEOVS RERDER THat famous Philosopher Xenophon extolling the Persian Lawes testified that their Citizens from their infancie were educated and taught not to attempt or almost to imagine any thing but honest and iust Which was the cause as Gellius reporteth that Draco a Citizen of Athens made their lawes so strict and seuere that it was said They were written with Blood and not with Inke whereas on the other side the Law made by Solon was compared to a spiders web which taketh the lesser flies and suffers the greater to escape and to breake the same So that euerie extreame being vicious Reason requireth a Law not too cruell in her Frownes nor too partiall in her Fauors Neither of these defects are incident to the Law-Merchant because the same doth properly consist of the Custome of Merchants in the course of Trafficke and is approued by all Nations according to the definition of Cicero Vera Lex est recta Ratio Natura congruens diffusa in Omnes Constans Sempiterna True Law is a right reason of nature agreeing therewith in all points diffused and spread in all Nations consisting perpetually whereby Meum and Tuum is distinguished and distributed by Number VVeight and Measure which shall bee made apparant For the maintenance of Trafficke and Commerce is so pleasant amiable and acceptable vnto all Princes and Potentates that Kings haue beene and at this day are of the Societie of Merchants And many times notwithstanding their particular differences and quarrells they doe neuerthelesse agree in this course of Trade because riches is the bright Starre whose hight Trafficke takes to direct it selfe by whereby Kingdomes and Common-weales doe flourish Merchants being the meanes and instruments to performe the same to the Glorie Illustration and Benefit of their Monarchies and States Questionlesse therefore the State of a Merchant is of great
a third are all equall The knowledge of the premisses is so naturally and visibly engraffed in the mind of man as no doubt can be admitted neuerthelesse there are men so intoxicated in their iudgements that being once possessed of an imaginarie conceit they will neuer be remoued as he was who asked of his friend What he should do with a heape of stones and trash to be rid of it and was answered That he should digge a hole in the ground and burie them and when the other demanded of him what he should do with the earth he should dig out he told him he should make the hole so much bigger to put them in both and he could neuer be recalled from this conceit euen in naturall and substantiall things to be felt seene and handled insomuch that experience sheweth that digging an hole one shall hardly put in the same earth againe without cramming and labour much lesse the other The Pithagorians doctrine lately reuiued by Copernicus touching the scituation and mouing of the bodies Coelestiall denying the stabilitie of the earth may in some measure be admitted argumentandi gratia for they set forth some Astronomicall demonstration Copernicus his opinion of the motion of the earth albeit imaginarie and declare some reasons agreeable to experience namely that the Orbe of the fixed Starres is of all other the most highest and farthest distant and comprehendeth the other Spheres of wandring Starres And of the straying bodies called Planets the old Phylosophers thought it a good ground in Reason that the nighest to the Center should swiftliest moue because the Circle was least and thereby the sooner ouerpassed and the farther distant the more slowly and vpon this consideration because of the swift course of the Moone they did conclude that the whole Globe of Elements was inclosed within the Moones Sphere together with the earth as the Center of the same to be by this great Orbe together with the other Planets about the Sunne turned making by his reuolution one yeare and whatsoeuer seemeth to vs to proceed by the mouing of the Sunne the same to proceed indeed by the reuolution of the earth the Sunne still remaining fixed and immoueable in the middest Aristotle of the stabilitie of the earth But Aristotle his reasons are generally approued to proue the earths stabilitie in the middle or lower part of the world because of grauitie and leuitie the earth being of all other Elements most heauie and all ponderous things are caried vnto it striuing as it were to sway downe euen to the inmost part thereof with many other reasons made disputable by some because the Planets and Starres are farre aboue vs. But to denie the Principle of Exchange and Money as aforesaid may be refuted and proued to be so plaine an error as we see the hand or Index of a dyall to be the thing actiue which sheweth the houre and the letters are things passiue and immoueable in the action and so are Commodities in the course of trafficke where Exchange is vsed Right merchants are taken to be wise in their profession for their owne good and benefit of the common-wealth for of the six members of all the gouernments of monarchies and common-weales they are the principal instruments to increase or decrease the wealth therof as may appear by the description of the following royall banket of Great Britaine The royal banket of Great Britaine The king of Great Britaine considering that all common-weales are furnished with Diuine seruice Armes Laws Riches Arts and Sustenance that the managing of these six things requireth six maner of persons namely Clergie-men Noble-men Magistrates Merchants Artificers Husband-men which iointly are the members of all common-weales was graciously disposed to inuite them all vnto a royall banket where after many pleasing discourses concerning hunting and hauing proued by many examples that the most renowned princes delighting in that royall sport haue alwaies beene the best wariers his Maiestie was pleased that euerie member of his common-wealth as aforesaid should in one onely word expresse the propertie of his profession or calling whereupon the Clergie-men did say we instruct the Noblemen we fight the Magistrates we defend the Merchants we inrich the Artificers we furnish and the Husband-men we feed The king answering vsed these or the like speeches We do verie well approue your declarations in this briefe manner recommending euerie one of you to discharge your duetie accordingly Comparison and propertie of the bodie to the head so betweene the king and his subiects with a remembrance that we as your head must make the bodie of the common-wealth compleate for the office of a king towards his subiects doth very well agree with the office of the head and all the members thereof For from the head being the seate of judgement proceedeth the care and prouidence of guiding and preuenting all euill that may come to the bodie or any part thereof the head cares for the bodie so doth the king for his people and euen as all discourses and directions flow from the head and the execution of them belongeth to the members euerie one according to their office so is it betweene a wise prince and his people And as the head by true iudgement may imploy the members in their seuerall offices being thereunto sufficient or being defectiue may cut them off rather than to suffer infection to the rest euen so is it betwixt the king and his people for as there is alwaies hope of curing any diseased member by direction of the head so long as it is whole and by the contrarie if it be troubled all members are partakers of that trouble so is it betweene the king and his subiects who is therefore called Parens patriae Parens patriâ— who like a father of the great familie of the common-wealth doth studie for the welfare thereof The Lord Chancellor making a general answere did acknowledge his maiestie to be the right and supreame head without which the bodie was to be esteemed as a dead trunke for said he the royal Scepter of a Monarchie guided with good and wholesome lawes doth far exceed all other gouernments Aristocratia Democratia which properly are called Aristocracies Democracies Aristocracie is the gouernment of the lesse number of people of a common-wealth in soueraingtie and Democracie being contrarie vnto it is the greater number of people gouerning Monarchie the best gouernment Whereas a monarchie is a common-wealth where one sole prince hath the absolute gouernment heere the peace vnitie concord and tranquilitie of subiects consisteth by meanes of one head by whose power common-weales are fortified vertue thereby being vnited and more corroborated than if it were dispersed into many parts which giue occasion of strifes turmoiles and controuersies by the diuided powers and emulation of greatnesse when as one person imitating nature doth gouerne as the head all the parts and members of the bodie for the generall safegard
found prettie store of Pearles and the climate being colder maketh the colour of them to be dimme albeit I haue seene some very faire and pendants also The small Pearle is also very wholesome in medicinable Potions Of the Commodities of Great Brittaine England THe Commodities of Great Brittaine containing the Kingdomes of England and Scotland and the dominion of Wales are rich and Staple wares and very aboundant with a continuall increase namely Woollen Clothes of all sorts broad and narrow long and short called and knowne by the names of seuerall Shires being 250 thousand Clothes made yearely besides the new Draperies of Perpetuanaes and the like commodities Tinne wrought and vnwrought aboue twelue hundreth thousand pounds yearely Lead transported and vsed aboue eight thousand Fodders euerie yeare Allomes made in aboundance aboue seuen hundreth Tunnes yearely Copperas made according to the quantitie vsed some 250 Tunnes yearely Yron of all sorts setting 800 Furnaces on worke Yron Ordnance or cast Pieces according to occasion made Wools and Woolfels and Calfe skinnes in great quantitie and Conie skins Stockins of all sorts of Silke Wooll and Yarnsey Yearne and Woolls Buffins Mocadoes Grograines Sattins Calamancos Veluets Worsteds Sarges Fustians Durance Tukes and all other Norwich wares and Stuffes Saffron the best that can be found in any countrey Glasse and Glasses of all sorts Venice gold Sea-coale and Salt Scotland Scots-coale Wheat Barley and all kind of graines in both Kingdomes Linnen Cloth and all Ironmongers wares Hides Tallow Leather drest and vndrest Trayne Oyle Salmons Pilchards Herrings Hake Conger Red-Herring Hops Woad Butter Cheese Beere Salt-peter and Gun-powder Honny and Wax Alablaster and many other Stones The Commodities of the Kingdome of Ireland are Ireland VVOolles Felles Yarne Furres Flax Linnen Cloth Hides Tallow Hempe Honny Wax Herring Cods Hake-fish Salmonds Eeles Ruggs Mantles Irish Cloth Pipestaues Yron and Lead Wheat and all kind of graine Salt-beefe Butter and Cheese and many Manufactures The Commodities of the Kingdome of France are WInes Prunes Canuas Linnen cloth Salt Veluets Raw silke France and diuers stuffes of Silke Buckrames Boxes with Combes Paper playing Cards Glasse Graine to dye Rozen Wheat and all kind of Graine corne The Commodities of Spaine and Portugall are WOols Madera Sugar Almonds Wines Oyles Anny-seeds Spaine and Portugall Anchoues Bay-berries Bariglia Figs Raisons Traine-oyle Yron Oranges Leamons Sumacke Saffron Soape Coriander Cork Licoras Woad and the commodities of the West Indies Sugar of Brazill Fernandebucke Wood Tabacco and other commodities The Commodities of Italy and certaine Ilands VEnice Gold Veluets Sattines Cipres Silkes Italy Cloth of Gold and Siluer Cottones Fustians Wines Currans Cloues Rashes Rice Sarcenets Raw Silke Allomes and Vitrioll Glasses and other Manufactures The Commodities of Germany and places adioyning WOolles Argall Steele Latine Copper Yron̄ Germany and all kind of Manufacture made of them Copperas Allomes Lead Fustians Paper Linnen cloth Quick-siluer Bell-mettall Tinne Renish Wines and Mather The Commodities of East-land and thereabouts AShes Bowstaues Cables Canuas Buffe-hides Flaxe Hempe Eastland Honny Wax Stock-fish Spruce Yron Match Wheat Rye Meale Woolles Waynscott Pitch and Tarre and Linnen cloth Cordage and Ropes The Commodities of Denmarke and Norway and Sweaden WHeat Rye Woolles Deales Clap-boord Pipe-staues Denmarke Norway Sweaden Masts Waynscot Copper Timber Fish and Furres Allomes in some places The Commodities of Russia Russia TAllow Hides Caueare aboundance of rich Furres Blacke Fox Martins Sables and the like Honny Wax Cables Ropes and Cordage The Commodities of Barbary Barbary GOat skinnes Almonds Dates Aneale Gumme Feathers Salt-peter Gold plentifully and from Guynea Hides Oliphant teeth and Graine The Commodities of the Low Countries Low Countries TApestrie Battery worke Steele Cambrickes Lawnes Hoppes Mather Butter Cheese Grograines Bozatoes Chamblets Mocadoes Brushes Tape Linnen cloth Pots Bottles Wheat Rye Salt Chimney backes Blades Horses Soape Fish Herrings Cods Ling and many things as Diaper Smalt Hoopes of Yron The Commodities of the West Indies FRom the Low Countrie beginning the West India Trade let vs set downe the commodities of it seeing that the States of the vnited Prouinces haue made lately a Societie of Merchants bearing date the ninth of Iune 1621 wherein other Nations may be aduenrors as by their letters Pattents appeareth prohibiting all other their subiects or inhabitants that they shall not trade from the said countries nor out or from any other kingdome and countrie whatsoeuer Letters Pattents for the West India Trade by the States c. vnto the coasts and countries of Africa from Tropicus Cancri along to the cape of Bona Speranza neither in the countries of America from the South end of Magellanes le Mary and other straits to the straits of Anian on euery side Noua Guinea included vpon forfeiture of the ships and goods and all their possessions within their iurisdiction and command and arrests of their persons vnlesse they be of the said Company made and established for the West India Trade Gold and Siluer Cucheneale Sugars rich Indico Donnigo Ginger Pearles Emeraulds Hydes Campeche or Logwood Salsaparilla Tabacco Canafistula Cocos-wood Lignum vitae Cottonwooll Salt and some other druggs for Physicke or dying of Stuffes And this may suffice for a declaration of the principall commodities of most countries CHAP. VIII Of Commutation or Bartring of Commodities WE haue compared Commodities vnto the bodie of trafficke which did vphold the world by commutation and Bartring of Commodites before money was deuised to be coined whereof we are now to intreate For commutation barter or trucke of Commodities was first effected in specie by deliuering one Commoditie for another according to the commodious and behoofull vse of man so that one did deliuer so many measures of Corne for so many measures of Salt as was agreed vpon another so many pound of Wooll against so many pound of Pepper Sugar or other commodities an other so many peeces of such a commodity for such a commodity or so many Hides for one barre of Yron or so many peeces of Siluer vncoyned but weighed and exchanged as yet is vsed in some places of America Barbarie and Guynea and other countries This may be properly called an exchange of commodities or rather a permutation of commodities albeit the Ciuilians when there is scarcitie of Gold and Siluer in a countrie and when the commodities in value surmount the money paied for them they do call that a permutation and denie the same to be an emption by their distinctions how soeuer this manner of commutation or barter was made by number weight and measure of commodities in kind but moneys being inuented and valued by the publicke authoritie of princes according to their seuerall stampes or coyne and by common consent made Publicae Mensura or the publicke measure to set a price vpon euerie thing This commutation barter or exchange of commodities for commodities was and is since that time made
the Lighter because it is a certaine rule That goods are lyable onely to contribution when ship and goods come safe to the Port. Item contribution should be for the Pilots fee Contribution for Pilots that hath brought the Ship into an vnknowne Port for her safegard as also to raise her off ground when the fault is not in the Master So is it when two Ships rush and crosse one ouer another and the company sweare that it lay not in their power to stay the same contribution must bee made for the repairation of both their losses but not so if one of them perish for which an Action may be brought against the negligent Master or Mariner who did make her loose And therefore if such a chance doe happen in the day time by a Ship vnder sayle against a Ship riding at Anchor then the Master of that sayling Ship shall make good the damage and hurt of the other to the vttermost and the like shall bee done if in the night the riding Ship doe put forth fire and light or make any crying to forewarne the other It also appertaineth to this Argument If some sort of goods as Salt or Corne be laid on heap by diuers parteners in one Ship without distinction and that the Master deliuer to any of them their due measure and before the rest receiue their measures the remaining Salt or Corne washes or loses he that had the hap to bee first serued enioyes it fully without any contribution to the parteners First come first serued because when these goods were put into the Ship it was deliuered to the Master Tanquam in creditum and so hee is become owner as of money lent which men are not bound to redeliuer in the selfe same pieces but in value or such like coyne except there bee some condition past to the contrarie And albeit this is not to be imputed vnto the Master as a fault yet if hee that receiueth a losse thereby will bring in this as an Aueridge and charge the assurors with contribution it is vniust for the reason aforesaid and the Master must of necessitie deliuer to one man before another And therefore in the next Chapter wee will set downe the manner of execution for contributions otherwise called Aueridges Concerning the danger and aduenture of Letters of Mart Letters of Mart. or Contremart Siue ius Reprisaliarum or Letters of Marque euery one knoweth that men hauing these Commissions or Letters from their Prince are very vigilant in all places to surprize Merchants Ships and goods for in this one extremitie doth inforce another extremitie when a man is oppressed with robberie spoyles and violence on the Seas by men falsly professing friends in such sort that no petition intercession or trauell can procure a mans right but that the subiect of one Prince hath open deniall of iustice or restitution of goods cannot be had at the hands of a subiect of another Prince nor of the Prince himselfe who should suppresse iniuries and wrongs Then because such vniust dealing doe import iust cause of hostilitie and warfare may these Letters of Mart bee procured to the end men may haue restitution or recompence of their losses especially because these proceedings seeme to denounce a warre without any Proclamation shewing vnto other Nations the like distastfull fauours as they shew vnto vs which are allowed to bee done by Customes Reasons and also by Statute Law in Scotland and afterwards in England The assurors therefore cannot bee fauoured herein Detainment of Princes The next is Arrests Restraints and detainements of Kings and Princes and of all other Persons happening both in time of warre and peace committed by the publike authoritie of Princes as also by priuate persons both wayes dangerous Priuiledged Ships There are in all Countries Priuiledged Ships and Boates seruing the Countrey or the Prince which haue great Prerogatiues and are free of Impost and Customes and not subiect to arrests therefore the assurors are not to care for them for they are to serue the Prince and all Ships are subiect to this seruice vpon command and if they refuse their Ships are forfeited by the Sea-lawes therefore in these cases the fauour of the Admirall is alwayes required It is an ordinarie matter in Spaine and Portugall to make an Embargo vpon all Ships at the departure of the West-India Fleet or the Carrackes for the East-Indies and many times vpon other occasions whereby Merchants Ships being laden are much hindered especially if it bee with Wines Oyles Raisons and such like perishable wares Now if the owner of the goods shall thinke that his wares doe perish lying two or three moneths laden or if it be Corne that may become hote and spoyled hee may renounce these goods or wares to the assurors and thereby bring a great losse vpon them Yet neuerthelesse he shall not need to abandon the goods for by the Policie of assurance it is alwayes prouided That in case of any misfortune it is lawfull for him A Prouiso in the Policies of assurance his Factor or Assignes or his Seruants or any of them to sue labour and trauell for in and about the defence safegard or recouerie of the goods and any part thereof And that the assurors shall contribute each according to the rate and quantitie of the summe by him assured So that albeit that it doe fall out that the goods be not vtterly lost when the Ship is cast away the assured must recouer his whole money because hee hath authoritie by the Policie of assurance to recouer them or any part of them as aforesaid and he is afterwards to yeeld an account thereof for so much as doth concerne euery man ratably otherwise the assured should bee discouraged if by those meanes he should make his assurance intricate and subiect to all cauilations and to the interruption of so necessarie and laudable a Custome as the matter of assurance is Therefore as in the matter in hand wee haue a care for the assurors that they should not bee deceiued by those that cause assurances to bee made so on the other side we would auoid to minister any occasion whâ—reupon they might become quarrelsome but that all should be left to the Commissioners determination who are or should bee at the least best able to examine the premisses Now concerning the Arrests of particular persons Arrests vpon Ships vpon Ship or goods the assured can make no renunciation to charge the Assurors with any losse either in the totall or part because vpon caution giuen to answere the law the ship or goods arrested are instantly cleered in all places either heere or beyond the seas where the arrests are made wherein the iurisdiction of all courts for sea-faring causes are verie carefull to see expedition vsed Barratrie of the Master and Mariners can hardly be auoided Barratrie of the Master but by a prouident care to know them or at the least the Master
are but one and so is Coniunction and Putrifaction likewise Cibation and Fermentation then followeth Congelation and at last Multiplication and Proiection which are also but one For mine owne part seeing that no man can be perfect in any one Science I hold it not amisse for a man to haue knowledge in most or in all things For by this studie of Alcumie men may attaine to many good experiments of distillations Chimicall Fire-workes and othâ—r excellent obseruations in Nature which being farre from Merchants profession I hope shall not giue offence to the Reader of this Booke seeing it is but in one Chapter accidentally handled Neither will I craue pardon of the Muses as it were insinuating to the world to haue a far greater knowledge in these trialls or conclusions but to satisfie the curiositie of some that it may be with a gaping mouth expect to vnderstand somewhat of the Stuffe put into these glasses I may say as I was informed That in some was the calcined ore of Silâ—er and Gold in some other Mercurie calcined and Sulphur in some other Arsenike for the Ayre Sulphur for the Fire Mercury for Water and Seacoale for the Earth were put altogether as the four Elements In some other glasse was Vitrioll and Orpiment and what more I doe not now remember concluding That where Nature giueth abilitie Art giueth facilitie I haue read all the Bookes of Paracelsus that I could find hitherto and in his Booke De Transmutatione Rerum I doe find to this purpose the obseruations following concurring with my friends opinion concerning Ripleys 12 Diuisions comprized into sixe and the seuenth is the matter it selfe and the labour or working resteth wherewith I doe end this Chapter and proceed to the surer ground of the Mines of Mettalls Omne quod in Friâ—ore soluitur continet Aerum Spiritum salis quem in sublimatione vel distillatione acquirit assumit Omne quod in Frigore vel Aere soluitur iterum calore Ignis coagulatur in Puluerem vel Lapidem Solutio verò Caloris soluit omnia pingua omnia Sulphurea Et quicquid calor ignis soluit hoc coagulat Frigus in massâ—m quicquid calor coagulat hoc soluit rursus Aeer Frigor Gradus ad Transmutationem sunt septem Calcinatio Sublimatio Solutio Putrifactio Distillatio Coagulatio Tintura Subgradus Calcinationis compraehenduntur Reuerberatio Cementatio Sub Sublimatione Exaltio Eleuatio Fixatio Sub Solutione Dissolutio Resolutio Sub Putrifactione Digestio Circulatio qui transmutat colores separat purum ab impuro purum superius impurum inferius Sub Distillatione Ascensio Lauatio Fixatio Coagulatio est duplex vna Aeris altera Ignis Tintura tingit totum corpus est fermentum massae farinaceoe panis Secundum est Quod calidius liquescunt eo celerius tintura transcurrit sicut fermentum penetrat totam massam acetositate inficit c. Sequitur Mortificatio Fixatio sulphuris in Libro de Resuscitatione Rerum Reductio metallorum in mercurium vivum CHAP. II. Of Mines Royall THe Mines called Royall are only of Gold Siluer and Copper of which three mettalls Princes made choice to make their moneys of simple or mixed as shall be hereafter declared But for as much as Siluer is found in the lead Mines and that the siluer Mines haue their Ores mixt with hard lead also it happeneth many times that there are great questions about these Mines when Princes will claime their interest in some lead Mines because they are rich in siluer as of late yeares betweene Queene Elizabeth and the Earle of Northumberland as you may read in Master Plowdens Commentarie of Booke Cases where it was adiudged That if a Mine be found richer in siluer of more value within the Ore than of lead all charges of the working of both mettalls being fully paied the Prince may claime the same to be a Mine Royal wherein must be had great aduisement some Ore in one place being richer than other Ore in another place of the same Mine whereof we may handle in his proper place of other Mines Beginning therefore with Gold the most precious mettall Gold Mines let vs obserue That the same is found in hills riuers and in the earth but not mixt in Ore as Siluer Copper and other mettals That which is found in the riuers is the finest as containing lesse corruption and is all of one goodnes otherwise There is Mayden-gold so called because it was neuer in the fire Naturally all Gold hath a little Siluer in it as also some Copper and comming out of the ground it is soft and doth harden by the ayre Such Gold as hath no need to be refined but may be vsed according to his finesse in workes or to make money is called Aurum obrison such was the Gold which sir Beuis Bulmer knight brought out of Scotland found in the sands of the riuers neere vnto the Gold Mines of Crayford-moore Crayford Moore in Scotland which was aboue twentie and two Carrats fine and better than the French crowne Gold I saw some eighteene ounces of it which was in big graines some like pease found out by the Sheepheards by whose meanes that place hath beene discouered in the latter time of queen Elizabeth Some other Gold hath beene found out also in Scotland within a white sparre wherin it groweth neere the superficies of the earth runneth into smal veyns like pins fit to be refined by quicksiluer from the sparre because it is as pure Gold as any found in Africa or Barbarie which we call Angell Gold holding but halfe a graine of Allay I haue seene the like sparre of Gold which was found in England in countie of Lincolne at Brickell hill neere Spilsbie by Lincolne Brickell Hill in England But neither this place or any other are lookt into for the reasons hereafter declared being right worthie to be regarded with a curious eye and an industrious vnderstanding and consequently many other whereof this Monarchie of Great Brittaine is rarely blessed and especially in Scotland where much barren ground is for God in his diuine wisdome doth counteruaile the said barrennesse of the soile with the riches contained within the bowels of the earth as in fertile ground with the Corne and fruits growing vpon the superficies thereof An obseruation to find out any Mines which may serue vs for an obseruation especially where we find riuers of water running about the hillie places in dales which the Spaniards did so much regard in the West-Indies seeking after Mines that in all places where they found not the same they presently gaue ouer the search after them Gold doth come out of many countries as out of the mountaines in Bohemia riuers of Pannonia in Hungarie out of the kingdome of Sweaden but it is all exhausted There was wont to come out of Spaine of the riuers and mountaines aboue twentie thousand pound weight yearely
so many millions of Copper moneys in foure and eight Maluedies and otherwise and in Portugall of Vintenis Patacois of so many Reas that the halfe Ryall which is our three pence is onely of Siluer and all moneys vnder it are meere Copper without any mixture of Siluer This quantitie is almost incredible for it is not many yeres since during the Kings raign of Philip the third that certaine Italians finding fault that his Octauos and Quartillos were too big gaue the King sixe millions of Ducats to coyne them at halfe the weight within a time limited and as many as they could vtter within that time Necessitas non habet legem is true in some respects The Venetians also coyne meere Copper moneys Copper moneys of the Venetians they haue Sessini which are valued at two Quatrini and three Quatrini are one halfe pennie sterling for six Quatrini are one pennie Bagatini they haue also whereof foure make one Quatrini and twentie and foure Bagatini make one pennie sterling by calculation In France they haue Mailles petit Deniers Deniers Doubles Of Fraunce and Liarts in times past most of these had some Siluer in them but vpon due consideration that it was so much Siluer wasted because the charges of refining did surmount the value and that these moneys did serue for the commutation of pettie things and trifles they haue saued that Siluer Of Germanie The like they haue done of all the small moneys in Germanie but they cause them to be Alkimed like Siluer which is done with Tin and Sal Armoniake after they be coyned which holdeth fairer for a longer time than the moneys of siluer allayed with much copper being in a maner incorporated with the copper and taketh away the smel of it Such are their Hellers Albs Hallincke and the like small copper moneys Of the Low-countries In the Low-countries they haue Duyts Mites Negemanckens Ortkens whereof foure make a Styuer and fiue Styuers make sixe pence which we may well call a Styuer for a pennie sterling eight Negemanckens and twentie and foure Mites for one pennie also In some places as in Flanders the Mite is called Corte and in the Wallone countrie Engcuni and in other places Point Pite Poot being all subdiuisions of Obolus or the halfe pennie Of many other kingdomes and states gouernment In Bohemia Poland Sweaden Denmarke East-land and many other Kingdomes and States they haue meere copper moneys tedious to describe likewise in Italie in their seuerall principalities and dukedomes Of Scotland In Scotland they haue Turnoners and pence and halfe pence in their names and much base money of Achisons Plackx Babyes Nonsuits Of Ireland and the like In Ireland they had in Queene Elizabeth her time halfe pence and pence of copper which are most of them lost and consumed The necessitie of these small moneys did appeare here with vs in England where euerie Chandler Tapster Vintner and others made tokens of lead and brasse for halfe-pences and at Bristoll by the late Queenes authoritie Farthing tokens in England were made of copper with a ship on the one side and C.B. on the other side signifying Ciuitas Bristoll these went currant for small things at Bristoll and ten miles about Hereupon it pleased our soueraigne Lord the K. to approue of the making of a competent quantitie of farthing tokens to abolish the said leaden tokens made in derogation of the Kings Prerogatiue Royall which farthing tokens being made by Engines of meere copper in the yeare 1613 with certain cautions and limitations haue on the one side two scepters crossing vnder one diademe in remembrance of the vnion betweene England and Scotland and on the other side the harpe for Ireland and the inscription of Iacobus D.G. Magnae Britt Fra. Hiber Rex And the said farthing tokens haue not onely beene found very commodious and necessarie for pettie commutations but also to be a great reliefe of the poore and means to increase charitie without which many of them had perished euerie man hauing means to giue almes euen the mechanicall poore to the indigent poore Siluer moneys To come to the coynes of siluer we haue also noted that the Romanes made but moneys of siluer the 484 yere after the foundation of Rome which was in the yeare 3695 from the beginning of the world being now about 1900 yeres since and by some coyns models extant the goodnes of it was sterling siluer being aboue 11 ounces fine since which time many are the standards of siluer moneys made in diuers countries according to occasions both in time of peace and warres as you may find in the following Chapters where wee haue reduced them from the marke weight vnto the pound weight Troy of twelue ounces And concerning the Moneys of England of the sterling Standard more followeth hereafter The Moneys of gold were but made when the Romanes had taken great wealth from all Nations Gold Moneys and was sixtie two yeares after their beginning of the making of siluer Moneys and they were of fine gold since which time also there haue beene many Standards made of gold and that from about twentie foure carrats fine vntill seuen carrats c. CHAP. VI. Of the Officers of Mints THere are diuers Officers in all Mintes The principall Officer is the Warden of the Mint next is the Mint-master the one to looke to the making of Moneys compleat according to the Standards and the other with his workemen called Monyers to make them Then there is the Comptroller to keepe the Contrebookes for the Prince State to see the bullion receiued and the assayes made thereof and the compleat moneys returned for the same weight for weight paying coynage money forthe same which is done by the Warden by the said moneys in specie as they were coyned at the first There are commonly two Assay-masters one Grauer and his deputie one that keepeth the Yrons to deliuer them to the Monyers or the Prouost or chiefe of them to see them euery night returned againe then the Sincker Smith Porter and the like in their places all these haue wages for themselues or allowances yearely from the Prince or State The Mint-master and the Monyers are paied for euery pound weight they make whereof 30 ll weight they call a Iourney The Tellors Office is but vsed in England The Sheyre booke of Moneys which the Wardens deputies execute in other countreys to keepe a Sheyre Booke of the peeces contained in the marke or pound weight although the money be deliuered by weight and not by tale For although there be suppose eight or ten peeces ouer in 100 ll by tale it doth incourage the bringer in of Bullion for the â—â—act sizing is not so much to be regarded vpon the totall in quantitie as vpon the equalitie of weight in peeces for it happeneth sometimes that one shilling will weigh one farthing or halfe penny
Mints beyâ—nd â—he Seas called the Generalls of Mints which did determine such and the like questions and controuersies arising between the Wardens and the Mint-masters which were men of great knowledge and experience in Mint affaires and had from the Prince large stipends giuen them for to attend these Mâ—nt businesses when the trialls of pixes or of the boxes are made and the Mint-masters make their accounts with the Prince Hereupon the said Assay-master according to his courteous behauiour was very well pleased to heare me as he said in fauour of Iustice and Truth And so I began to answere gradatim and articularly as followeth Drinking vp of the copple admitted First concerning the drinking vp of the copple albeit that it appeareth vnto me by certaine testimonialls made beyond the Seas by Generalls Wardens Mint-masters and Assay-masters that if a copple or teast be well made it drinketh not vp any siluer at all yet I will admit that it doth so because you are so confident that you can take it out of the copple or the most part of it and so I will proceed Two penny weight of copper acknowledged to be put in Secondly I do acknowledge that there is two pennie weight of Copper put into the melting pot as you say for it is commixed at twentie pennie weight which is a fâ—ll ounce where the standard requireth but eighteen pennie weight but this is done to counteruaile the wast of Copper which commeth by melting of Bullion remelting of the Brocage and Scizell and by working hammering often nealing and blaunching of the moneys whereby the moneys grow better in finenes than they were at the first melting because so much and more copper doth waste Wast of copper counteruadeth the copper put in and can it waste lesse than ten ounces in one hundreth weight No surely which is the cause that the red Booke in the Exchequer for Mint affaires admitted this two penny weight for waste which is but ten ounces in the hundreth And to say that this two penny weight of siluer is the cause that the Mint-master putteth in two penny weight of copper Vnequall proportion it carrieth not any proportion to put one for one when the mixture of the Standard is eleuen to one But you reply vnto me That the Mint-master is to beare all wasts and therefore must answere the same and be charged in account for it I answere That the accounts of all Mints are made only vpon the finenesse of moneys by their weights and that it was neuer otherwise vsed in England vntill this day All accounts are taken vpon the fine matter onely and if the Warden will bring a new manner of account than euer hath beene taken according to the Leidger Booke of the Mint and the Comptrollers Booke then the Mâ—nt-master is to be charged with euery thing in his proper nature siluer for siluer and copper for copper otherwise it were better for him not to put in any copper than to be made to answere siluer for it But the Mint-master must hold as well his allay as his fine siluer Allay to be kept according to the statute 2. H. 6. ca. 2. and in doing otherwise by not putting in of this two penny weight of copper the moneys would be too fine and the Master might incurre fine and ransome Therefore all Mint-masters doe worke according to their remedies and they do beare all wasts incident and casuall as if some ingots were falsified with copper within as hath beene found at the Mint the Mint-master must beare the aduenture of it Hazard of Mint masters for Princes will be at a certaintie which is the cause that the Mint-masters may commix at their pleasure thus farre as the sixteenth Article of the Indenture declareth That euery pound weight Troy shall bee in such sort commixed and melted downe that at the casting out of the same into ingots The Indenâ—uâ—e of Eliz Reg. xluj it shall be and hold eleuen ounces two penny weight of fine siluer and eighteene penny weight of allay euery pound containing twelue ounces euery ounce twentie penny weight and euery penny weight twentie foure graines according to the computation of the pound weight Troy of England which eleuen ounces two peny weight of fine siluer and eighteene penny weight of allay in the pound weight of Troy aforesaid The old right â—â—erling Standard is the old right Standard of the moneys of siluer of England and that the commixture of the Mint-master hath beene done accordingly so that it was found so at the casting out you best know what made the assayes thereof from time to time As for your Melting booke where the allay is entred if you will charge the Mint-master thereby let it be done distinctly for siluer and copper or allay in his proper nature as is said before and then the controuersie is ended Now let vs come to the Standard of the Base moneys made for Ireland I am sure there is not two penny weight of copper put in as in the sterling Standard Siluer taken out by diuision oâ— the standard of Base monies but there is two penny weight of siluer by computation taken out in euery quarter of a pound of siluer which as you say is eight penny weight of siluer in the pound weight why should the Mint-masters account be charged with this where siluer by the diuision of the proportion is taken out and two ounces eighteene penny weight are taken for three ounces from the fire as the Indenture declareth Shall a Mint-master commixe and melt by prescription or suffer other men to melt it for him and yet be made to answere for the finenesse of moneys according to an indented triall peece made of refined fine siluer as you say and receiue neither siluer answerable in finenesse nor the quantity which he ought to haue allowed him according to the Standard I am sure that in the making of these moneys Câ—eaâ— wast of copper there hath beene aboue fortie ounces of copper wasted in one hundreth weight of the moneys made thereof whereby the Bullion is growne finer that is to say These fortie ounces of copper being wasted haue left the siluer behind wherewith they were commixed at the first and so is the said whole masse or bullion so much finer and richer in the proportion which Arithmeticall distribution doth demonstrate vnto mee Demonstration Arithmeticall and in this ingot of course siluer may prooue it vnto you let vs suppose it weigheth 16 ll and containeth 4 ll of siluer and 12 ll of copper and so may we say it is the fourth part siluer if this ingot now should be made to decrease or diminish 4 ll of copper and so it should weigh but 12 ll and therein still containe all the foure pound in Siluer may not we iustly call this to be richer and say it is one third part of Siluer and yet there is no more Siluer than before
and Arithmeticall proportion And the rule Quadrant The rule Quadrant or the golden rule of Arithmeticke proueth vnto any man of vnderstanding that in calculation these foure things must concur First Principall you may find out by your interest money and the time after ten in the hundreth for the yere what the summe was which was deliuered at interest Secondly Rate at what rate according to the time such a summe was deliuered Thirdly Time the time for which it was deliuered at such a rate And lastly Interest what the interest money was for the summe deliuered according to the time and all these Posito in any one summe for all will manifest the deliuerie of one hundreth pound for one whole yeare of twelue ordinarie moneths after the rate of ten in the hundreth if it be so deliuered out for by inuerting postpounding and supposing all must produce these iust and positiue summes whereby you may be assured whether you terme your money deliuered out according to the art and rule of Arithmeticke the principles whereof are infallible or whether being deceiued therein you haue vnawares made an vsurious contract as many do ignorantly Auditors or Calculators The Ciuilians especially Benvenutâ— Straccha termed those which we call Auditors or Accountants Calculatores which in deed are to bee very iudicious in matter of account as skilful in the accounting able by positions to find out hidden summes for it falleth out many times in Princes accounts that summes are named which haue relation to other summes and must by suppositions be found out and can be done as they say Calculando For example A summe of money is deliuered out for three yeares euerie yeare to be paied whereof the first summe Posito is 500 ll and the fourth or last summe is 665 ll â—0 ss Betweene these two you are to find two summes proportionable multiplie 500 ll within it selfe is 500000 with this multiplie the 665 ll 10 ss of the product take your Cubike Root is 550 for the second summe now to find your third summe multiplie 665 10 with 550 is â—3200 Your Quadrant Root is Medium betweene 2 and 4 being 605 and so you haue your summe and the interest you find to be 10 pro cent The like for 5 6 or more summes which by Geometâ—iâ— is yet more easie Reduction of Maluadies into ducats shillings and pence So we find that for matter of diuision to reduce millions of Maluadies in Spaine into Ducats without much diuision by 375 Maluadies for the Ducat and then the shillings and pence of ducats made in bills of Exchanges Take â…“ part of the summe and the ouerplus if any be put it downe for shillings and pence then in like manner take â…• of that summe and againe â…• of that summe and lastly â…• of that summe being â…— deriued from â…“ and you haue your ducats shillings and pence of ducats in Vntratto as the Italian saith in like manner diuide by all the numbers contained in the table of multiplication for 42 take â…™ and 1 7 for 63 take 1 7 and 1 9 part and so of all the other summes for six times seuen is fortie and two CHAP. XVI Of Vsurious Contracts I Need not to make double inculcation against Vsury for the Ciuillians haue beene so precise in the description of Vsurious Contracts Doctor Wilsoâ— de Vsuris which Doctor Wâ—lson hath noted that it is hard for any Merchant to escape the consure of being an Vsurer albeit not in danger of the statute which is verie necessarie for all Merchants to take notice of But he concludeth No Vsurie without lending That where there is no lending there can be no Vsurie wherein he maketh a distinction betweene Mutuum Locatio and Commodatum declaring Mutuum to be where my goods are made thine Locatio where a thing is â—ut forth or letten to hire the propertie still remaining in the owner who beareth the aduenture thereof and Commodatum to be a letting or lending without alteration of the propertie also but free without any gaine at all where for hiring a gaine is taken and so he maketh a description of Vsurors if they deale in manner following If any commoditie be sold vnto any man who buyeth the same by meanes of a broker or otherwise to make a shift and to sel the same instantly to make money of to supplie his occasions losing thereby as he must of necessitie the seller of this commoditie is an Vsurer In this case if it be proued that the said seller doth buy or causeth the said commodities to be bought againe directly or indirectly the statute against Vsurie will take hold of him and that verie iustly I do borrow of a man one hundreth pounds for three moneths promising to giue his wife a satin gowne or an ambling gelding hereupon he forbeareth his money for many moneths more without interest it is Vsurie I do bind my land worth twentie pounds by the yeare to a man for one hundreth pounds in money for a yeare and do not passe it by bargaine and sale if the creditor do take the reuenues and his principall it is Vsurie Be it that a man lendeth an hundreth pounds freely and hopeth assuredly to haue some thankefull recompence at the yeares end this is Mentalis Vsura What if one lend money in hope to get an office this is also Vsurie If one lend a man money for a certaine time because the same man should speake a good word for him or do him a certaine pleasure it is a ruled case that for so much as a couenant is past it is vsurie I do lend you one hundreth pounds that you shall do as much for me when I shall demand it of you this is vsurie because a contract is simplie made without any addition of time appointed whereas if he had asked so much at the yeares end then it had beene no vsurie but permutation when one good turne is done for another and the time knowne certaine A lord doth lend his tenants money with this condition That they shall plough his land if he do not pay them for their labour but with the vse it is vsurie I would borrow and one selleth me wares for more than they be worth by the halfe the seller is an vsurer I doe sell commodities vnto a man for six moneths at a reasonable price and afterwards he payeth me in readie money deducting the interest for the time after the rate of ten in the hundreth this is Vsurie The father-in-law do lend his sonne a sum of Money and taketh in pawne the possessions of the dower and conuerteth the fruits thereof to himselfe for the lone of Money this father-in-law is an vsurer He that buyeth before hand Corne Wine or Oyle so good cheape as he is sure not to be a loser but a gainer at the time of the Haruest the same man is an vsurer I do lend one hundreth pounds to my friend
their bodies vntill the day of Iudgement For albeit the Spirit of man is rightly termed to bee the Facultie of the Soule The Facultie of the Soule is the Spirit of man yet the parts of the Soule concerning Vnderstanding and Will haue their proper relation for that part called Vnderstanding is seated chiefly in the Soule as Will is in the Spirit both to be accompanied with Knowledge The Phylosophers haue made this distinction by their Chimicall obseruation and such as place the Soule in the bloud dispersed through all the veynes of the bodie do also place the Will of man in the spirit residing in the heart of man which the Anatomists demonstrateth to be a little concauitie where the drops of the vitall bloud are placed in the heart which are feared vp and the place is shrunke in bodies which haue been poisoned To make application of this comparison betweene the Soule and Spirit Application of the comparison we shall find by the following discourse that euen as the Spirit of man is predominant ouer the Soule and Bodie in all the actions thereof which by the bloud are quickned and preserued euen so is the Exchange for moneys by Bills of Exchanges ouerruling the course of commodities and moneys in all places where the action of money is felt or seene directing the same by some due proportions accordingly CHAP. I. Of the Beginning of the Exchange for Moneys by Bills of Exchanges THE Exchange for moneys is of great antiquitie for as we haue declared the first Siluer moneys coyned by the Romanes is almost 1900 yeares since And euen as money was inuented to bee made of the best mettalls to auoid the troublesome carriage of commodities vp and downe and from one countrey into another So vpon the like consideration when other nations imitating the Romanes did coyne moneys The cause of the Exchanges Exchange by Bills for moneys was deuised to auoid both the danger and aduenture of moneys and the troublesome carriage thereof This money now being made by diuers Nations of seuerall standards and diuers stamps and inscriptions as a Marke of Soueraigntie caused them to appoint a certaine Exchange for the permutation of the seuerall sorts of coynes in diuers countreys without any transportation of the coyne but giuing Par pro Pari or value for value with a certaine allowance to accomodate the Merchant and the officers to execute the same were called Numularij Argentarij and Collybistae that is to say Numularij of Nummus or the coyne it selfe Argentarij because the Siluer coyne was most vsuall in the course of trafficke and Collybistae because it signifieth a reward for Exchanging Here now let vs obserue foure manner of Exchanges which haue beene vsed and in some countreys are yet continued albeit some of them are abrogated in England commonly called Cambio Commune Cambio Reall Cambio Sicco and Cambio Fictitio which denomination may be admitted The first manner of Exchange called Cambio Commune I Cambio Commune is properly that Exchange which the said Collibistae or common Exchangers did vse by the authoritie of Princes and Common-weales for the lawfull and currant moneys of their Kingdomes and Territories which was found to be verie expedient and necessarie and was established to preuent the exportation of money from one countrie into another countrie and these Exchangers did deliuer in all countries the Money in one specie for the Moneys in other species by them receiued as aforesaid Tables of Exchange Whereupon King Edward the third of England caused certaine Tables to be set vp at Douer and other places of the realme declaring the value of the said sundrie species of coyne of all countries trafficking with his subiects and the allowance which Merchants were to giue to haue their turnes serued as may appeare by the good Lawes made in his time when there was Moneys coyned in diuers places of this Kingdome and not in one mint onely within the Tower of London And this was long before the discouerie of the West-Indies from whence the ocean of Money did run into Christendome And for the gouernment of the said Tables all was at the direction of the Master of the Kings Mint at London and with a correspondence of other Mints namely at Canturburie at Kingston vpon Hull New-castle vpon Tine Bristoll and Exceter And the Exchanger for the King at London did also depute Exchangers in the most places except that certaine Merchants of Florence called Friscobaldi were the Kings Exchangers at Kingston Friscobaldi the Exchangers New-castle and Exceter who made the said Exchanges of value for value with a reasonable allowance and by their meanes were all the said Mints set on worke and the transportation of our Moneys was preuented for as Bishop Tursids booke of Arithmeticke declareth by giuing par pro pari or value for value there was no gaine left to the transporter The Kings of England did constitute these Exchangers Kings Exchangers euen as the Cambiadores and Banquers are vsed in other countries being authorised by the King or Prince of the said countries especially King Edward the first of England who had two Exchangers the one called Custos Cambij infra Turrim who had the charge in buying of bullion and to looke to the coynage of Money within the realme now called the Warden of the Mint the other was called Keeper of the exchange and rechange within or towards this realme for Moneys to be paied in specie by Bills of Exchanges beyond the seas And afterwards the said Exchanges were made without naming the species but according to the value of the seuerall coynes 2 Cambio Reall and this was called Cambium Regis or Royall Exchange which caused Queene Elizabeth to name the Burse in London accordingly This office appeareth to haue been in the eleuenth yere of the said King Edw. by an Act of Parliament made at Acton Burnel since which time the succeeding Kings and Queenes haue continued the same by sixteene seuerall Letters Patents And whereas it seemed that the said two Exchangers could not execute their offices conueniently being asunder it fell out that in Henrie the sixth his time a Law was made by which both offices were put into one mans hand and so continued many yeares vntill the time of King Henrie the eight Exchanges discontinued when he caused base Moneys to be made at the seige of Bulloigne whereupon no certaine Exchange could be grounded albeit that before that time in the two and twentieth yeare of his raigne he caused a Proclamation to be made according to an old Statute made in the time of King Richard the second The Chronicle of Graston That no person should make any Exchanges contrarie to the said meaning or Act of Parliament vpon paine to be taken to be the Kings mortall enemie and to forfeit all that he might forfeit For in his noble fathers time King Henrie the seuenth the Bankers had inuented a course of
North Starre Some Merchants are so farre wide from the knowledge of the value of coynes and the Exchanges made thereupon that they are of opinion That there can be no certaine Rate or Par of Exchange set to answere iustly the value of the coynes of forraine parts by reason of the diuersitie and disproportion of the coynes of Gold and Siluer and their intrinsicall and extrinsicall values But these Merchants are to vnderstand that the moneys of all Countreys haue a proportionable valuation relatiue within themselues according to their seuerall standards for weight and finenesse onely the smaller and baser coyne haue some little knowne aduantage which may bee considered of in Exchange Proportionable valuation of moneyes for Exchanges to be made accordingly if there bee cause that the quantitie of those moneys doe exceed the bigger and finer coyne This consideration hath beene had heretofore and especially in the Par agreed vpon between the Low-countreys and this Realme in the yeare 1575 when vpon the Philip Doller the Exchange was at twentie fiue shillings the Par and the small moneys would exceed twentie seuen shillings and vpwards but the quantitie did not surmount the better coyne The like was vpon the Par agreed vpon with the States of the vnited Prouinces Anno 1586 at thirtie three shillings foure pence and with Hamborough and Stoade to twentie foure shillings nine pence Lubish vpon the Rickes Doller of thirtie three shillings or nine markes foure shillings for our pound sterling of twentie shillings making foure Dollers and one halfe to answere the said Par which Doller is inhanced since to fiftie foure shillings and were receiue now but foure Dollers for the same and so for other places accordingly CHAP. III. Of the Denomination of the Imaginarie Moneys of all Places whereupon Exchanges are made by Bills THE Denomination of moneys which wee call Imaginarie is because there is not any peculiar or proper money to be found in Specie wherevpon the Exchanges are grounded as it was in times past in many places where some moneys were the cause to ground the price of Exchange vpon as our Angell Noble being coyned for sixe shillings and eight pence sterling whereupon Exchanges haue beene made as now is done vpon twentie shillings and so might the new peeces of our Soueraigne King Iames Laureat be taken But it is more proper to make Exchanges vpon the siluer coynes for the price of commodities is most ruled thereby in all places which by the quantitie is fiue hundreth to one Hence did proceed the cause that when our Gold in the yeare 1611 The price of Gold not so effectuall as the price of Siluer was aduanced ten in the hundreth aboue the Siluer the prices of commodities did not rise albeit forraine Nations did cause the price of Exchange to fall But if Siluer were inhanced presently the price of commodities would follow as the rule thereof and the price of Exchange would fall more for Exchange will ouerrule both In like manner do we call the moneys of other Countreys wherevpon Exchanges are made to be Imaginarie as the Dollers in Germanie the Crownes in France the Ducats in Italy and other places which by the great diuersitie you may vnderstand as followeth together with The Calculations of Merchants Accounts whereupon their Bookes of Account are kept according to their Imaginarie Moneys Pound Flemish IN Flanders Brabant and most places of the Low-countreys they keepe their Bookes of Account and Reckonings by twentie shillings Flemish euerie shilling twelue deniers or pence which shilling is six styuers In Artois Henalt Pound Tournois and other places by pounds tournois of twentie stiuers or fortie pence Flemish whereof six called guildren or florins make the pound Flemish in all the seuenteene prouinces of the Netherlands Some do reckon by pounds Parasis which are but twentie pence Pound Parasis whereof twelue make the pound Flemish but their accounts as also the reckonings of their Prince or Finances are kept by pounds Tournois which pound they diuide into twentie shillings euery shilling into twelue pence and the like is done by the pound Parasis and these haue also their subdiuisions of Obulus Maille Heller Hallinck Corte Mites Point engeuin Poot and such like copper moneys too tedious to rehearse In Germanie in the yeare 1520 Gold guilder was the gold guilder coyned for a generall coyne and valued in Holland for twentie eight stiuers which is now in specie at double the price neuerthelesse they do continue to buy and sel all that great quantitie of corne which is brought from the East countries Poland and other places by the said gold guilder of twentie eight stiuers Their doller was coyned at sixtie fiue Creutzers since risen to seuentie two Creutzers Creutzers yet their Exchange is made vpon the doller of sixtie fiue Creutzers which is imaginarie At Augusta the Exchange is made vpon the said doller of sixtie fiue Creutzers at three weeks or foureteene daies sight after the bill presented At Frankford they reckon by the guilder of sixtie Creutzers Florins of 60 Creutzers called in Latine Crucigeri being peeces with a Crosse they are Florins and their Exchange is made vpon the doller of sixtie fiue Creutzers payable in the two yearely Faires or Marts the one the weeke before Easter and the other in the beginning of September to continue for all the moneth At Norenborough their Exchang◠〈◊〉 made vpon the said doller of sixtie fiue Creutzers and many times vpon the Florin of sixtie Creutzers which they also diuide into twentie shillings and euerie shilling twelue pence to keepe their accounts by For Bohemia Bohemicos Exchanges are made vpon the doller of twentie and foure Bohemicos At Vienna they reckon by guilders or florins of eight shillings of thirtie pence to the shilling two Heller to the penie and Exchange is made thereupon At Bauiera by guilders of seuen shillings of thirtie pence Diuers guilders for Exchanges and Accounts In Hungarie by guilders of ten shillings of thirtie pence and by florins of twentie shillings and twelue pence to the shilling and Exchanges are made vpon their ducat At Breslo and Leypsich they reckon by markes of thirtie and two grosses of twelue heller to the grosse Markes of 32 grosses and they Exchange by thirtie florins Breslowes to haue at Vienna thirtie and foure florins or at Norenborough thirtie and two florins Pounds of 20 shillings 12 hellers c. At Vlme they reckon by pounds of twentie shillings and twelue heller to the shilling and their Exchange is is made vpon the doller of sixtie creutzers At Colloigne by dollers of seuentie two creutzers for Accounts and Exchanges Pound sterling At Embden they reckon by guilders and Exchange vpon the rickx doller but from London thither and hither vpon the pound sterling of twentie shillings Markes of 16 shillings At Hamborough they account by markes of sixteene shillings
and equalitie of moneys domesticall and forraine A most easie remedie aâ— aforesaid and to let all Merchants exchange one with another by Billes of Exchanges as they now doe and can agree amongst themselues but neuer vnder that price seeing it is against all reason nature and policie to vndervalue the Kings money by exchange and all the commodities accordingly to the incredible losse of the Realme Will not this be as easie to be done as we see the rudder of a ship doth gouerne the greatest carracke or vessell being but a small peece of timber fastened vpon the paralell of the keelne of the ship whereby it is directed according to all the variations of the Compasse as wee haue said elsewhere Let the practise hereof assure vs and we shall not need to seeke the golden Fleece in Colchos which wee haue within our owne Iland of Great Britannia our feeble pulses will be felt when our hammers shall beate in the Mint for moneys and bullion are to the State a second life If any Hedgmint for so doe the States of the Vnited Prouinces of the Netherlands call the Mints of pettie Lords Hedgemints what they bâ— which by falsified standards do imitate to coyne the money of other Princes should seeke to maintaine inequalitie all their imaginations will proue to be but chymeraes and toyes for it will bee easier for the King to alter the price of this equalitie of exchange accordingly than it is for a Miller to turne his mill to grind his corne with all windes insomuch that when it shall bee once established and knowne there will not want some backbiter or Momus to make little estimation of this Columbus voyage to the rich Indias and goe about to disgrace this great seruice to the King and Commonwealth for they shall be able to set an egge on the end by way of imitation as others did when they saw it done before Prerogatiue Royall to set a price for moneys By these meanes shall the ancient Office of the Kings Royall Exchanger bee supplied and it is one of the greatest prerogatiues the King hath to set downe a price on his owne coyne and thereby to giue a certaine measure to buy and sell which is by the Merchants exchange and conniuence of tolleration by forraine States abridged and in a manner frustrated and it imports the King more to reforme this exchange than any other Prince because God hath so blessed England that no Nation of Christendom trafficketh so much in bulke of Staple commodities as this Realme which Boters though altogether Spanish in times past and no friend to England confesseth that two yeares before the taking of Antuerp An. 1584. all the wares of Christendome being valued and summed by the officers of that City which were vented there in one yeare the whole being diuided into sixe parts the English amounted to foure parts thereof which is the cause also that England hath the head of exchange The Basis of Exchange which is our Basis and foundation of our twentie shillings sterling whereupon most exchanges are made and this head may command the members and parts of the body more conueniently by the Kings commandement as before hath beene declared I haue in this Chapter thought conuenient to remember this important matter againe with a varietie of stile to reuiue and recreate the spirit of the Reader to the end all the premisses may in his apprehension and conceit giue more delight and pleasure euen to naturall mother wit whose commendation may not bee omitted CHAP. XIX The due commendation of naturall Mother Wit FOr as much as all humane actions being fallen from perfection to imperfection are to ascend againe from imperfection to some measure of perfection Naturall Mother Wit casting her eyes backe Per varios casus per tot discrimina rerum challengeth the precedencie of Art by way of Prosopopeia by her ingenious obseruation of number weight and measure vnder which she hath noted that all substantiall things vnder the cope of Heauen are subiect Who will denie saieth the intellectuall part of Wit that euen as forma dat esse rei so I caused dame Nature to performe her function by producing spotted lambs when I ouercame the eie-sight in generation Gen. 30. ver 37 so when the teeth of infants come forth orderly and conioyned by my obseruation are they made an obiect for the tongue to play vpon did not I teach those that could not pronounce the letter R to lay little pimble stones vnder their tongue to eleuate the same to make them apt thereunto as also to cause the ligaments to be broken without which the Grammarian cannot ascribe to himselfe Grammatica Vox literata aâ—ticulata debito modo pronunciata By which abilitie the Caldean Hebrew Greeke and Latine letters were afterwards by Arts inuented ypon which foundation Logicke was builded whereby I caused verum falsum to be distinguished and trueth to be descerned which the Logitians haue so much obscured by their Sillogismes and Arguments founded vpon Distinctions Diuisions Subdiuisions Logica Quillets and Exceptions by varietie of termes that without my helpe the trueth can hardly nakedly be knowne which by Art should be made plaine and not intricate for a ripe Wit will dispell the foggie mysteries of deceitfull fallacies as the Sunne driueth away the winds and clouds Poets are beholding vnto me whose Naturall wittie facultie maketh them famous according to the prouerbe Nascimur Poetae fimus Oratores But now Art steppeth in Rhetorica and claimeth the honour of Rhetoricke as deuised by her with the helpe of the facunditie and fluencie of speech and is called Ornatus persuasio whereunto the celeritie of Wit occurreth saying soft sir do not take me to be all Wit without wisdome like vnto trees full of faire leaues without fruit Arithmetica for loe yonder commeth Arithmeticke which is the originall and ground of all the seuen liberall Sciences or Arts without which non of them can subsist her poesie is Par impar This foundation was laied by me amongst the heathens and vnlearned creatures of America and other countries to demonstrate numbers by fingers and toes telling two three foure and so to ten then ten and one and ten and two and so forth still making signes as they speake and when they will reckon twentie they will hold downe both their hands to their feet shewing all their fingers and toes and as the number is greater so will they double and augment the signe obseruing the same by a little bundle of stickes laied or tied together and separated a sunder obseruing thereby their paiments and promisses according to Number Weight and Measure This is that accounting by scores yet vsed whereof their Arithmeticke gaue denomination before any of the said Arts were inuented and this is properly to be attributed vnto me ab origine For I haue noted that in things created and ingendred the Elements are
accordingly The double Guilder of Albertus tenne ounces 15 pennie weight and 14 â…— peeces The single Guilder the halfe and quarters of the same finenes and peeces accordingly The peeces of foure two and one Stiuer since 1590. The peeces of eight Ryalls of Spaine of eleuen ounces foure pennie weight and 13 ½ peeces The said peeces made at Mexico in the Indies eleuen ounces fine and 13 â…” peeces The Lion Doller of the Prince of Orange of nine ounces fine and thirteene peeces The siluer Ryder of Guilders and Frize-land correspondent with the States Doller of nine ounces The Dollers of Guelders and Vtrecht tenne ounces tenne and twelue pennie fine and thirteene peeces The great siluer Royall of the States correspondent with the Phillip Doller The 1 20 part of the said great Royall with the Arrowes accordingly The Doller of Zealand with the Eagles of nine ounces fine and 13 ½ peeces The Edward Doller of England of eleuen ounces two pennie weight fine and 11 ¾ peeces The Doller of Scotland with the crosse Daggers eleuen ounces two pennie weight fine and 11 ¾ peeces The Marke of Scotland eleuen ounces two pennie weight fine and 54 peeces The Doller of Frize-land coyned 1601 of nine ounces fine and 13 ½ peeces Coynes made of meere Copper THe Ortgens whereof foure make one Stiuer and two the halfe Stiuer The Duyts also foure make one Stiuer The Negenmannekens the eight make a Stiuer and foure the halfe Stiuer The three Mites whereof eight peeces to the Stiuer is 24 Mites The sixteene pence Hollandts make one Stiuer and eight the halfe Stiuer For other Copper Moneys read the fifth precedent Chapter of Moneys Error of Triall peeces for the Standard So I doe conclude this Chapter with an errour committed in the making of the Standard Triall Peeces vsed in most Kingdomes and States to charge the Mint-masters to make the Moneys by wherein they doe not proceed according to the Rule of Arithmatike by obseruing true weight and finenesse For if it bee appointed to make a Standard peece of tenne ounces fine they will take certaine ounces of fine Siluer and Copper proportionable thereunto and melt them together and being made into a plate of Siluer diuide the same into three equall parts to be deliuered one to the King another to the Warden and the third to the Mint-master and hereof are Assayes made both of this peece and the moneys and so compared together As if a man should take eleuen ounces two pennie weight of fine Siluer and eighteene pennie weight of Copper both in weight and melt them together making twelue ounces by weight and neuer weight them after they bee commixed But say this is sterling Standard whereas the weight both of the one and of the other doth proportionate the Standard by weight for in regard of the waste of copper this is better than Standard and ought to bee made exactly so that the peeces also are to be correspondent to the pound weight for the foundation riseth from hence as in the following Chapter appeareth CHAP. IX Of the Valuation of Moneys and the Proportion betweene Gold and Siluer VAluation of Moneys is the Spirit which giueth life vnto coynes for without it weight and finenesse are in the nature of Bullion or Materialls This Valuation is twofold Two fold is the valuation of moneys the first is done by publicke authoritie of Princes and States whereby the peeces of coynes are esteemed at a price certaine both for Gold and Siluer to go currant for that value within their kingdomes and dominions the second is the Valuation of Merchants by way of Exchange betweene vs and other nations which is predominant and ouerruleth the former as heretofore hath beene touched and now will be proued The Kings or Princes Valuation is effected three manner of waies Kings valuation viz. by inhauncing the price of the coyne by Proclamation secondly by embeasiling the standard of money by allay and thirdly by altering the proportion betweene Gold and Siluer The Merchants Valuation is also effected three manner of waies Merchants valuation viz. by the price of Exchange for moneys rising and falling from time to time by the tolleration of the coynes at a higher rate betweene them and by the combination with Mint-masters inhanceing the price of the Marke of Gold and Siluer Of all these in order briefely The Kings Valuation is deriued or drawne from the verie peece or peeces made out of the pound weight of twelue ounces or the marke of eight ounces which the Romans did call Nummus à numerando to tell or reckon by The Saxons gaue it the name Pfemimg or Pennimick in Ducth from whence the word pennie is deriued for they cuttâ—ng twentie peeces out of the pound Troy of twelue ounces made twentie pence euerie way that is to say twentie pence in weight twentie pence in value Weight and finesse both alike with the number of peeces and consequently diuiding the finenesse also by twentie pennie weight and euerie pennie weight in twentie and foure graines which was the auncient sterling standard of Osbright the Saxon King seuen hundreth yeares past which Valuation so continued vntill King Edward the third and vntill Henrie the sixth and then was valued at thirtie pence the said ounce and continued vntill Edward the fourth The ounce of siluer aduanced because of the inhancing of money beyond the seas and then valued at fortie pence and so continued vntill King Henrie the eight and then was valued at fortie and fiue pence and so continued vntill Queene Elizabeth who after the decry of the base money made by King Edward the sixth which King Henrie his father had caused to be coyned did restore the sterling standard to her great benefit by valuing the said ounce at sixtie pence or 5 ss inhauncing the same one full third part so that one of those pence became three pence by valuation and Gold was raised according to the proportion of eleuen of fine Siluer to one of fine Gold or eleuen of standard Siluer to one of Crowne Gold which valuation of Siluer hath continued hitherto with little alteration But beyond the seas there hath been great inhancing both for the coynes of siluer and gold as wel in Fraunce as in the Low-countries and Germanie to Englands incredible losse as is at large declared in our * The Canker of Englands Common-wealth Treatise of Exchange This daily inhauncing beyond the seas began in the time of King Henrie the eight who went about to reforme the same but afterwards finding that if he should inhance his price of moneys likewise they would still aduance theirs more and more he began but moderately and whereas the Angell Noble so called was at six shillings eight pence Angell Noble inhanced he â—aused the same to be valued at seuen shillings and foure pence by a Proclamation in the eighteenth yeare of his raigne and within two moneths after at seuen shillings
six pence and withall he did write vnto other Princes concerning the same and Commissioners came ouer about it but all was in vaine whereupon he gaue an absolute authoritie to Cardinall Wolsey by letters patents as followeth HENRIE the eight by the grace of God King of England and of Fraunce defendor of the Faith Lord of Ireland to the most reuerend Father in God our most trustie and most entierly beloued Councellor the Lord Thomas Cardinall of Yorke Archbishop Legat de Leicester of the See Apostolicke Primat of England and our Chauncellor of the same greeting For as much as coynes of moneys as well of gold as of siluer be of late daies raised and inhaunced both in the realme of France Francis the French King and Charles the fifth Emperor as also in the Emperors Low-countries and in other parts vnto higher prices than the verie poiz weight and finesse and valuation of the same and otherwise than they were accustomed to bee currant by meanes whereof the money of this our realme is daily and of a long season hath beene by sundrie persons as well our subiects as strangers for their particular gaine and lucre conueyed out of this realme into the parts beyond the seas and so is likely to continue more and more to the great hinderance of the generalitie of Our subiects and people and to the no little impouerishing of our said realme if the same be not speedily remedied and foreseene We after long debating of the matter with you and sundrie other of Our Councell and after remission made vnto outward Princes for reformation thereof finding finally no manner of remedie to be had at their hands haue by mature deliberation determined That Our coynes and moneys as well of Gold as of Siluer shall bee by our Officers of our Mint from henceforth made at such finesse lay standard and value as may be equiualent correspondent and agreeable to the rates of the valuation inhaunced and raised in outward parts as is afore specified whereupon Wee haue giuen commaundement by Our other Letters vnder our great Seale to the Master Warden Comptroller and other Officers of Our said Mint and to euerie of them to see this Our determination put in execution of the said coynes by Proclamation or otherwise as in the print coyne stroake of the same Wherefore by these presents Wee will and authorise you to proceed not onely from time to time when you shall seeme conueniently by aduice of such other Our Councell as you shall thinke good to the limitation description and deuising how and after what manner and forme Our said coynes and moneys may be brought vnto the rates and values finesse lay standard and print by you and them thought to be requisite but also to appoint Our said Officers of Our Mint duely to follow execute obey and fulfill the same in euerie point according In which doing these Our Letters vnder our great Seate shall be your sufficient warrant and discharge any Act Statute Ordinance or Law or other thing whatsoeuer it be to the contrarie notwithstanding In witnesse whereof We haue caused these presents to be sealed with Our great Seale at Westminster the 23 day of Iulie in the eighteenth yeare of Our raigne c. Graftons Chronicle doth record that all was to no purpose for the inhauncing might on both sides haue run ad infinitum Afterwards in the two and twentieth yeare of his raigne finding that Merchants did transport still the moneys or made them ouer by exchange and made no imployment vpon the commodities of the realme he caused a Proclamation to be made according to an old statute 14 Richard 2 Statute of imployment That no person should make any exchange contrarie to the true meaning thereof vpon paine to be taken the Kings mortall enemie and to forfeit all that he might forfeit Hereupon it fell out that lawlesse necessitie did run to the other extreame of imbasing the moneys by allay whereby all things came to be out of order For base money maketh euerie thing deere Base moneys and ouerthroweth the course of exchange betweene Merchants and causeth much counterfeit money to be made to buy the commodities of the realme and to destroy the good moneys like vnto the seuen leane Kine of Pharaoth which deuoured the seuen fat Kine in a short time as appeared of late within the realm of Ireland which is more dangerous in those kingdomes where their moneys are of a rich standard whereby many commotions happen Commotions about base money as in Fraunce during the raigne of Philip le Bell. And Peter the fourth King of Aragon did for this cause confiscate the Islands of Maiorca and Minorca now kingdomes in the Mediterranean sea whereas the policie of those nations which do vse seuerall standards of moneys doth preuent the same because that promiscuously they make and coine moneys of seuerall standards according to the occasion which is worthie the obseruation ☞ and as all extreames are vicious and defectiue so doth it befall those countries which will haue no base money at all and are made a prey vnto other nations by the exchange for moneys which must be maintained withall as I haue made and shall make more apparant Proportion betweene gold and siluer The third effect or alteration of the Kings Valuation of money is the Proportion betweene gold and siluer being in most countries twelue to one that is to say one pound of siluer for one ounce of gold wherein there is more operation than most men do imagine For you cannot aduance or inhance the one but you abate and diminish the other for they ballance vpon this paralell And whereas England by continuance of eleuen to one hath beene a great looser of gold so now by aduancing the same not onely to twelue to one but to 13 ⅕ for one there hath followed a verie great losse of our siluer which is ouer much abated as may appeare if we do but consider that the French Crowne of sixe shillings was answered with six shillings in siluer and is now full seuen shillings and foure pence and our six shillings in siluer are the verie same for twelue ounces of Crown gold of twentie and two carrats at 3 ll 6 ss maketh 39 ll 12 ss and 108 French Crownes the which are made out of the pound weight of twelue ounces at seuen shillings foure pence maketh also 39 ll 12 ss Hereupon to equalize the siluer vnto gold againe will breed a generall inhauncing of things within the realme for the alteration of the measure of moneys causeth the denomination to follow in number to make vp the tale which requireth great prouidence Exchange fallen by the inhauncing of gold in the Low-countries For we find that other nations perceiuing our gold to be inhanced haue abated the price of exchange according to which the prices of commodities are ruled so that the same goeth at thirtie and foure shillings six pence or thirtie