dignitie and to bee cherished for by them Countreys are discouered Familiaritie betweene Nations is procured and politike Experience is attained Whereupon I haue beene mooued by long obseruation to put the worthines of the Customarie Law of Merchants in plaine and compendious writing by vndoubted principles familiar examples and demonstratiue reasons without affectation of curious words more than the grauitie of the Theame in some places did require I haue intituled the Booke according to the ancient name of Lex Mercatoria and not Ius Mercatorum because it is a Customary Law approued by the authoritie of all Kingdomes and Common-weales and not a Law established by the Soueraigntie of any Prince either in the first foundation or by continuance of time And beginning with Time Number VVeight and Measure I doe descend to the three Essentiall Parts of Trafficke diuided into three parts accordingly by comparing them to the Bodie Soule and Spirit of Commerce namely Commodities Money and Exchange for money by Billes of Exchanges The first as the Bodie vpheld the World by Commutation and Bartring of Commodities vntill money was deuised to bee coyned The second as the Soule in the Bodie did infuse life to Trafficke by the meanes of Equalitie and Equitie preuenting aduantage betweene Buyers and Sellers The third as the Spirit and Facultie of the Soule being seated euerie where corroborateth the Vitall Spirit of Trafficke directing and controlling by iust proportions the prices and values of Commodities and Moneys For euen as Merchants are the Instrumentall Cause of Trade euen so is the Exchange for Moneys the Efficient Cause with vs in the course of Trafficke and become Predominant or ouerruling the price of Commodities and Moneys as aforesaid This is manifested by three Paradoxes alluding to the said three Essentiall Parts of Commerce which for a Corrollarie I haue added in the latter end of this Booke with such other worthy obseruations as in the first Chapter are declared And euen as the roundnesse of the Globe of the World is composed of the Earth and Waters So is the Bodie of Lex Mercatoria made and framed of the Merchants Customes and the Sea-Lawes which are involued together as the Seas and Earth In the description whereof I have vsed to make repetition of the Materiall points according as occasion did minister vnto me for to make application thereof for the better vnderstanding of the Iudicious Reader which is the maine Scope that all Writers are to regard and care for The meanes whereby the differences and controuersies happening betweene Merchants in the course of Trade are ended is also declared which most of all require Breuitie and Expedition and had need of a peremptorie proceeding as was inuented for the Common Law of the Realme of England the due commendation whereof is added heereunto shewing also how of the same there might bee made an Art or Science and what obseruation of other Lawes are concurring with ours both in the strictnesse of Law and the lenitie of Equitie most consonant with the Law-Merchant the knowledge whereof is of so great consequence that without it all Temporall Lawes are not compleat but imperfect The Scope of all therefore is That the Rule of Equalitie and Equitie may take place betweene Vs and other Nations which Velut Ariadnae caecaregens filo vestigia non modo nos errare non sinit fed etiam efficit vt aberrantes in rectam viam deducamur as hath beene mentioned in our last Treatise of the maintenance of free trade lately published Concluding gentle Reader vpon all the premisses handled as I hope substantially I commend and submit the same to the louing entertainement of the profound and discerning iudgement of the discreet wise and experienced wishing that like matter set downe by the Penne of Apollo they may sound sweetly in your apprehention and giue to your conceit most harmonious Musicke Pleasure and Delight London the 25 of Nouember 1622. Thine to vse alwaies readie GERARD MALYNES A TABLE OF THE CONtents of the first part of Lex Mercatoria or the ancient Law-Merchant concerning Commodities compared to the Bodie of Trafficke Chapter Pag. 1 AN induction to Lex Mercatoria or the Law-Merchant and the antiquitie thereof 1 2 An obseruation concerning Time 8 3 Of Number and the mysteries thereof 17 4 Of Weights and Measures vsed in all places of the world with other obseruations 19 5 Of the three essentiall parts of trafficke namely Commodities Money and Exchange of money by bills of Exchanges 58 6 A geometricall description of the world especially of Europe measured by millions of acres of ground vpon the map 66 7 Of the Commodities of all Countreyes whereby commerce is maintained 70 8 Of Commutation or bartring of commodities 83 9 Of ordinarie buyings and sellings of Commodities 91 10 Of Suretiship and Merchants Promises 93 11 Of the reuolution of buying and selling of Commodities in the course of Trafficke 95 12 Of the transferring and setting ouer of Billes obligatorie betweene Merchants and others 98 13 Of the Nature of Billes obligatorie beyond the Seas and in England 101 14 Of Letters of Credit and Blankes signed 104 15 Of Letters of Atturney or Procurations and Transports and Conueyances 106 16 Of Factors and seruants and Commissions giuen vnto them 111 17 Of the beginning of Sea Lawes 119 18 Of the manner of proceeding in Sea-faring Causes 121 19 Of buying and selling of Commodities by Contracts 122 20 Of Bankes and Bankers 131 21 Of the Fraighting of Ships Charterparties and Billes of Lading 134 22 Of the Master of the Ship his power and dutie of the Master to the Merchant 142 23 Of the dueties and priuiledges of Marinors 144 24 Of the office of Assurances and the ancient custome of the same 146 25 Of Pollicies of Assurances and the substance of them and of contributions 150 26 Of the manner of Contribution or Aueridges 157 27 Of the particulars to be obserued in Assurances 159 28 Of the manner of proceeding for Assurances in case of losses 161 29 Of Shipwrecke and things found vpon the seas 167 30 Of partners and ships voyages 169 31 Of moneys taken vpon bottomarie by the Master of a Ship called Foenus Nauticum 171 32 Of Shipping and Nauigation 173 33 An Abridgement of the imperiall Sea Lawes of the Haunce Townes made in the yeare 1614. 175 34 Of Nauigation and Communitie of the seas 182 35 Of the distinct Dominions of the seas 185 36 Of Customes Subsidies and Impositions paied vpon commodities 193 37 Of Merchants Wagers Stipulations or Conuentions 197 38 Of Merchants markes set vpon commodities 199 39 Of the buying and selling of commodities by Brokers and by the Candle 201 40 Of buying of Commodities by Condition termed Capiticus and selling things vpon casualties 203 41 Of diuiding of commodities by Lots 205 42 Of Assotiations Monopolies Engrossings and Forestallings 210 43 Of Merchants Oppignorations 218 44 Of the proceedings vsed against Bankrupts 221 45 Of Manufactures 229 46 Of
wares and durable commodities to the impouerishing of kingdomes and common-weales And not only is this commutation or exchange abused in kind but also in the price paying too deere for the one and selling the other too good cheape whereby commeth an ouer-ballancing of Commodities in price and qualitie and not in quantitie whereby in effect Ouer-ballancing of Commodities Moneys are giuen to boot and as it were ouer and aboue the reasonable estimation of things and herein is the course of Exchanges by Bills predominant and ouer-ruling both the course of Commodities and Money as shall be at large demonstrated hereafter For the said three essentiall parts of Trafficke are properly the Bodie Soule and Spirit of Commerce The Bodie Soule and Spirit of trafficke and haue their opperation accordingly The first as the Bodie vpheld the world by commutation and bartring of Commodities vntill Money was deuised to be coyned The second as the Soule in the Bodie did infuse life to trafficke by the means of Equalitie and Equitie preuenting aduantage between buyers and sellers The third as the Spirit and facultie of the Soule being seated euerie where corroborateth the vitall Spirit of trafficke directing and controlling by iust proportions the prices and values of Commodities and Moneys True it is that this Spirit and facultie of the Soule namely the Exchange for Money taketh his originall from the Soule which giueth life to the bodie of trafficke that is to say The exchange for Moneys by Bills of Exchanges is grounded vpon Moneys and Moneys were inuented and made by common consent to be the rule and square to set a price vnto all things and the right and true judges of them and is therefore called Publica Mensura Money the publicke measure at home or the publicke measure between man and man But since the manner of Exchange was inuented betweene nations and nations or countrie and countries Moneys did onely remaine the publicke measure within the realmes or common-weales of euerie countrie betweene man and man according to the valuation of Princes and States imposed vpon Moneys and the Exchange of Moneys by Bills became Publica Mensura betweene vs and forreine nations and between all nations in the course of commerce Exchange for Moneys the publicke measure betweene nations according to which Exchangeal Commodities are bought and sold. And albeit that the aboundance or quantitie of Commodities and the many or few buyers or the scarcitie of Commodities causeth the prices of Commodities to rise and fall and likewise that plentie of Money maketh things deere and scarcitie of Money maketh them good cheape as a propertie inherent vnto Money as a true measure yet we must obserue in true order That both Commodities and Money are Passiue Commodities and Mony are things passiue since th' exchange was inuented which is only Actiue and that in countries where all the essentiall parts of trafficke are vsed But howsoeuer the Maxime is to be obserued in the auoyding of the said ouer-ballancing of Commodities in price and qualitie Marcus Cato therefore saieth aduisedly Oportet patrem familias esse Vendacem non emacem A prince therefore as the father of the common-wealth ought to be a seller and not a buyer which commeth to passe when the expences of his common-wealth do not exceed his incomes and reuenues this to be effected by keeping a certaine equalitie in the trafficke betwixt his kingdome and forreine nations Natural riches Artificiall riches For riches being naturall or artificiall and both subiect to Number Weight and Measure requireth a certain equalitie in the true coÌ„mutation of things between vs and other nations Iustice distributiue and commutatiue And justice being distributiue commutatiue euerie man of iudgement knoweth that this part is comprehended vnder justice commutatiue and that all trafficke consisteth of the land Commodities Land Commodities Sea Commodities and of the Commodities of the seas and lastly of the Commodities of other countries and nations For God caused Nature to distribute her benefits or his blessings to seuerall clymats supplying the barrennesse of â—some things in one countrie with the fruitfulnesse and store of other countries to the end that interchangeably one common-weale should liue with another These Aphorismes or selected points are of great importance for as is noted before gaine being the scope of all merchants is procured without regard had to the common-wealth the wealth wherof cannot properly decrease but three manner of waies Proper causes of the decrease of wealth in a State namely by selling our home Commodities too good cheape by buying the foreine Commodities too deere and by the transportation of Monys in specie when the exchange of monys doth not answere the true value of it by Bills of Exchanges as shall be plainely demonstrated Exchange the Rudder of trafficke For this Exchange is the Rudder of the ship of Trafficke fastened vpon the Parallel of the keele of Equitie which doth rule and direct the said ship vpon all the variations of the Commodities of all countries Many men knowing that the Rudder doth gouerne the ship can notwithstanding giue little reason of the cause of it but admire to see so small a piece of timber haue so great an operation yet no man is so foolish as to attribute that power vnto the sailes or any other appurtenances of the ship or to the maine bodie of it called the hull of the ship Great is the error therfore of those that will ascribe any effectual operation to the quantitie of Commodities albeit there was a trafficke and commerce without either Money or Exchange for Money when the course of it was like a ship sailing without Rudder or Compasse Money may well be compared to the Compasse Money as the Compasse of a Ship and Exchange the Rudder hauing so manie variations vpon the seuerall standards of the coines of all countries and changing continually from time to time in valuation Princes and Common-weales taking aduantage one against another either to draw treasure into their Kingdomes and Territories or to aduance the price of their countrie Commodities And Exchange may properly be compared to the Rudder of a Ship which commandeth the directions of the Compasse accordingly and so doth the Exchange command the course of Money for let the standards of Moneys be altered either in weight finenesse or valuation the Exchange by altering the price with great facilitie according to equity is able to meet and ouer-rule them all as shall be declared in the progresse of this booke The learned haue determined Principles or Axiomes what they are c. that no argument or disputation is to be maintained with those that will denie Principles which by reason and common consent are indisputable and stand of their owne authoritie for by an vndoubted Principle or Axiome we know That the whole is bigger than his part that two is more than one and that two equall things being equally diuided into
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
plantation of people and new discoueries 234 47 Of the fishing trade 241 The Contents of the second part of Lex Mercatoria concerning Moneys compared to the Soule of Trafficke 1 OF the essence or existence of Mettalls 255 2 Of Mines Royall 259 3 Of mines and mineralls 268 4 Of the profitable working of mines 272 5 Of the nature of gold siluer and copper and of the moneys made thereof 274 6 Of the officers of mints 279 7 Of the assaies of bâ—llion and moneys 284 8 Of the weight and finenesse of moneys and their seuerall standards 291 9 Of the valuation of moneys and the proportion betweene gold and â—iluer 307 10 Of the lawes and prohibitions against vsurie 235 11 Of vsurie politicke and moneys deliuered at interest 329 12 Of intollerable Vsurie and Lombards 337 13 Of Mons pietatis or Bankes of charitie 341 14 Of the true calculation of moneys at interest 345 15 Of vsurious Contracts 349 16 Of lawfull Bargaines and Contracts 352 17 Of the vniuersall and perpetuall princely contract of commerce 354 18 Of moneys deliuered vpon liues annuities and pensions 358 19 Of the denomination and diuision of moneys of diuers countries 360 20 Of Merchants accounts kept by Debitor and Creditor 362 The contents of the third part of Lex Mercatoria concerning Exchanges for Moneys by Bills of Exchanges compared to the spirit or facultie of the Soule of Trafficke 1 OF the beginning of the Exchange for moneys by bills of Exchanges 378 2 Of the true calculation of moneys in exchange by bills according to par pro pari 382 3 Of the denomination of the imâ—ginarie moneys of all places whereupon Exchanges are made by bills of Exchanges 386 4 Of the times of paiment of moneys by exchange and the termes of art vsed therein 391 5 Of the nature of bills of Exchanges 393 6 Of the non-acceptation of bills of Exchanges and the customes obserued concerning the same 398 7 Of Notaries Intimations and Protests 401 8 Of reciprocall or double Exchanges 404 9 Of the feates of bankers performed by Exchanges 408 10 Of the true reformation of Exchanges 413 11 Of Attachments and Arrests 424 12 Of Sequestrations and Executions 428 13 Of denization and naturalization of Merchants 439 14 Of the determination of sea-faring causes 443 15 Of Arbitrators and their awards 447 16 Of the Merchants courts or office of Prior and Consulls 451 17 Of the Lawes of seuerall countries whereby the differences and controuersies of Merchants are determined 460 18 Three Paradoxes alluding to the three essentiall parts of trafficke 477 19 The due commendation of naturall Mother Wit 491 20 Of the ancient gouernment of the Staple 495 A conclusion to the juditious Reader 499 AN INDVCTION TO LEX MERCATORIA OR THE LAW MERCHANT AND THE ANTIQVITIE THEREOF CHAP. I. WHen Almightie God had created man good and a sociable creature who could not so well liue alone as other creatures sufficiently prouided by nature for their sustenance and had reason assigned and giuen vnto him aboue all the said creatures yet all the meanes and faculties of his bodie and soule were not sufficient to make him happie whilest he was alone But necessitie did require a concourse of men helping one another to supplie with a common strength the said weakenesse for the burden of the said necessitie was so weightie and great that one man alone was not able to manage the same Then it came to passe that by mutuall contribution of offices euerie man did afford means according to his abilitie for the common good so that those which were of a strong bodie did emploie their labour to get liuing and maintenance for themselues and others And those which were endued with the best part of the soule as Vnderstanding and Reason did vndertake the most important matters teaching men how to liue well and informing them of their felicitie which they iudged chiefely to consist in vertuous actions endeauouring to make impression in the soule of man of certaine good lawes for the obseruation thereof with a reference of them to the first law engraffed in the soule of man as a part of that diuine light which was infused in him to know in some measure of perfection the good and euill Called by the Grecians Synderisis and accordingly to receiue reward or punishment As for the other and better part of informing and guiding the thoughts and affections of men to a supernaturall end that as surpassing the compasse of that lower spheare wherein I now moue must be left vntouched by me who here take for my obiect not the spirituall but the ciuill life of man and the meanes thereto conducing Touching therefore the externall part The mutuall contribution of offices amongst men hath from the beginning continued both in labouring and manuring the naturall riches of the lands in corne and pasturage as in the immediate children of our first father Adam and in planting Vines and making an extract of the iuyce of the fruit of them as Noah Which riches in matter and foundation naturall and partly also in alteration and managing artificially euery possessor not long after the beginning of the world seuerally inioyed in propertie and hence did proceed a commerce first in reall enterchange and communication of things of the same or other kinds but all naturall commodities as sheepe for sheepe sheepe for corne wine for oyle c. betweene man and man or nations and nations according to number weight and measure and after to auoid confusion by a commune pignus currant mutuall which we call money both by way of merchandizing Gen. the most ancient euidence hereof is Abrahams purchasing for money a field for buriall The obseruation and customes whereof was the beginning of the Law-Merchant and that especially when mankind was propagated into an infinite number and the domestiques or neere hand commodities were not sufficient for their sustenance in some countries and in other countries were ouer aboundant Then of necessitie followed the vse of trusting exchanging and trading first on the Land in the maine Continent and then extensiuely vpon the Seas both for fishing and negotiation Then did merchants trauell from countrey to countrey So in the dayes of the Patriarke Iacob Gen 37.27 did the merchants Madianits in their iourney meete with the children of Iacob and then Ioseph was carried by their meanes into Egypt and sold to Potipher for the good of his father and all his family And then it was and proued to be true which experience hath confirmed that Vita ciculis in societate posita est The Law-merchant a most antient law societas autem in imperio commercio So that it plainely appeareth that the Law Merchant may well be as ancient as any humane Law and more ancient than any written Law The very morall Law it selfe as written by Moses was long after the customary Law of Merchants which hath so continued and beene daily augmented successiuely vpon new
subiect to be numbered by Ages Yeares Moneths Daies Houres Minutes and their diuisions and subdiuisions wee cannot in this place omit to particularise concerning the same albeit it may be thought inconuenient to touch the obseruation of the period of Monarchies and Common-weales Periods of Monarchies Common-weales made by some Authors which by many important reasons may be amplified Some distribute the whole ages of the world into three parts ascribing to euerie age 2000 yeares which procâ—edeth from that common opinion of Elias a certaine Rabbin or Iew affirming that the world should stand 6000 yeares and then be disolued of the which they reckon 2000 yeares before the Law 2000 yeares vnder the Law and 2000 yeares vnder Christ which shal be shortned for the elects sake which opinion hath beene receuied by diuers godly fathers supposing that as the world and all things therein was created in six daies So the same should endure 6000 yeares taking each thousand yeares for a day according to the saying of Saint Peter 1. Pet. 3. That one day before the Lord is as a thousand yeares and a thousand yeares as one day In this supputation is some reason for from the beginning to Abraham with whom the first couenant was made and to whom the law of circumcision was giuen wee find to be neere 2000 yeares Of the ages of the world and likewise vnder the law vntill Christ about 2000 yeares and now vnder Christ is aboue 1620 yeares reckoning towards the last 2000 yeares Augustin writing of these ages diuideth them into sixe and reckoneth the first age to be from Adam to Noah the second from Noath to Abraham the third from Abraham to Dauid the fourth from Dauid to the captiuitie of Babylon the fifth from the Captiuitie to Christ the sixt and last vnder the kingdome of Christ vntill the end of the world Others there be that doe distribute the same into foure according to the nature of foure kinds of mettals the Golden Siluer Brasse and Iron Ages alluding to the Prophecie of Daniel of the foure Monarchies Others doe account the same by thousands or millinaries according to certaine obseruations of 6000 yeares in the alterations of things Others doe calculate according to the ages of men supposing 100 yeares for an age and so now being 56 ages and more the number 60 or before the end of the world shall come But let vs obserue the true computation of the Church most generally approoued hitherto Computation of ages by Scripture and reckon from the Creation vntill Noah 1656 yeares when hee entred into the Arke and from the Flooâ— to Abraham 367 yeares and from the departing of the Israelites out of Egypt 430 yeares and from the departing to the building of the Temple by Salomon 430 yeares and from that time to the eleuenth yeare of King Zedekiah deduced by Scripture is 427 yeares So the whole summe of these yeares commeth iustly to 3360 yeares Hereunto 70 yeares being added of the captiuitie of Babylon is 3430 yeares which are 790 Sabbaticall yeares of seuen yeares euery Sabbaticall yeare without any odde number and from that time vntill Christ there is no momentarie difference by Historicall account whereof vnderstanding Merchants ought to bee informed all men take pleasure of this obseruation in their Almanacks From the Creation of the World Aâ—no Domâ— 1620. vntill the last yeare 5582. From the said Creation vntill the Flood 1656. From the said creation vntil the Birth of our Sauior Christ 3962. Since Brute did enter the Iland of Great Brittaine 2727. Since the building of the Temple by Salomon 2649. Since the building of the Citie of Rome 2371. Since the captiuity of Babylon 2258. Since Iulius Caesar was slaine 1669. Since the Birth of our Sauiour Christ vntill the last yeare 1620. Since the Conquest of England by Duke William 553. Since the beginning of the raigne of King Iames the first of that name of England vntill the 24 of March 1620 is 17 yeares compleate but currant 18. Concerning the yeare there are many obseruations Of the seueral beginnings of the yeare and euen of the seuerall beginnings of it And let vs note Obiter that the bodie the soule of man consisting in the bloud hath 365 veines as residences agreeable to so many dayes of the yeare All our Almanackes or Kalenders beginne the yeare from the first day of Ianuary albeit this beginning differeth in many other countries which is conuenient for Merchants to obserue The Astrologians begin at the entrance of the Sun in Arijs which is the 21 of March at 12 of the clocke at noone The old Romanes did begin their yeare ab Hieberno solstitio The Egyptians and old Iewes from the 21 of March with the Astrologians Those of Asia and India ab aquinoctio Autumnali being the 23 of September at 12 of the clocke at noone The Grecians of the longest day of the yeare The Venetians of the first of March The Spaniards from the Annuntiation of the Virgin Marie the 25 of March as England Scotland and Ireland The Portugals and the East-Indies Barbarie Preste-Iohn the 29. of August Moses by Gods commandement ab equinoctio verno which is Easter according to which Easter day Easter day was ordained vpon the full Moone being the foureteenth day of the first Moone after the Sunne entred into the signe of Aries which is also vsed in Aegypt Afterwards in the yeare of our Lord 328 the Councell of Nice did ordaine Easter day alwaies to be vpon the Sabbath day or Sunday next after the full Moone And the Bishop of Alexandria made thereupon a list according to the Circle or Golden number of the Moone beginning from the figure 1 vntill number 19 for that in 19 yeares the Moone maketh her compleate reuolution concurreth with the Sun And if the number did fall out vpon a Sunday then the Sunday after was Easter day The List appointed for Easter day according to this abstract which is now altered by ten daies vpon the alteration of the Kalender by Pope Gregorie the 13. Golden numberâ— 1. The 5 of Aprill 2. The 25 of March 3. The 13 of Aprill 4. The 2 of Aprill 5. The 22 of March 6. The 10 of Aprill 7. The 30 of March 8. The 18 of Aprill 9. The 7 of Aprill 10. The 27 of March 11. The 15 of Aprill 12. The 4 of Aprill 13. The 24 of March 14. The 12 of Aprill 15. The 1 of Aprill 16. The 21 of March 17. The 9 of Aprill 18. The 29 of March 19. The 17 of Aprill Reuolution of the Sunne and Moone The yeare being exactly calculated according to the course of the Sunne or Reuolution in the Zodiake through all the twelue Signes consisteth of 365 daies 5 houres 49 minutes and 16 seconds And the reuolution of the Moone in her going course is 27 daies and about 8 houres and in her returning course about 29 daies and one halfe
matter little sensible Here may Microcosmos the little world Man behold how little the great world is which is made for him as a Tabernacle where hee hath no abiding place but trauelleth as a Pilgrime towards the Coelestiall habitation with a thankefull mind and remembrance of the mercie of God who hath beene mindfull of the Sonne of Man and made him lower than the Angels to crowne him with glory and worship Psal. 8. Thus much I thought to demonstrate vnto Christian Merchants touching the world before wee intreate of the commodities whereby trafficke and commerce is by them and other Nations maintained according to the ancient Verse Currit Mercator ad Indos as appeareth in the next Chapter CHAP. VII Of the Commodities of all Countries whereby commerce is mainetained Corporum tria sunt genera ALbeit that the aforesaid Doctors of the Ciuile Law haue declared that there be but three kind of bodies of things namely 1 Quod continetur vno spiritu vt homo lapis c. which is contained of one spirit as man and a stone or such like 2 Quod ex pluribus inter se coherentibus constat vt edificium nauis c. which consisteth of many things ioyned together as a building a ship c. 3 Quod ex distantibus constat vt corpora vno nomine subiecta veluti populus legio grex c. which cōsisteth of distant things as many bodies vnder one name a People a Legion a Flock and the like Yet this difinition is not compleat concerning the bodie of trafficke and commerce consisting of Bodie Soule and Spirit namely Commodities Mony and exchange of Mony by Bills of Exchanges as aforesaid which are to be described in order And because Commodities like vnto the Bodie vpheld the world at the first by way of commutation and bartering of them according to necessitie and vsefulnesse Therefore may it bee thought conuenient to set downe in this place the particular commodities of all Countries and of some of them their values and estimation by meanes whereof Trafficke and Trade is established and maintained that thereupon wee may proceed accordingly Verely in the estate of Innocency all things were common but alas this communitie of things indured but a while and now by reason of our naturall corruption and pronenesse to wrong one another there is an absolute necessitie of proprietie and seuerall possession which is consonant to the Law of God as well as founded vpon the Law of man and consent of Nations it being the voyce of secondarie Nature This is my house this is my towne and this is my seruant c. whereby Meum Tuum is distinguished The reuocation of this communion of things is the nerues and bond of humane Societie and the mother of labour and diligence Who would Till the ground if he hoped not to taste of the crop of it Surely all would be waste and desolate if men were to plant and build for euery body that is nobody Wee see by experience that the strongest would depriue others of the vse of things vnlesse the law did interpose her authoritie which is two fold namely Paterna Politica effected by the fathers of families and magistrates And herein is no other equalitie to be found concerning things but a mutuall voluntarie estimation of them according to the vse and behoofe of the said things And the prouerbe is true That goods held in common are as it were no bodies goods and not manured as they ought to be whereupon Plato in his second Common-wealth vpon better consideration did reuoke his former opinion of the communitie of goods and vsed to say That no man was a gayner but another became a looser which had an ouer great regard to the propertie of goods and if there were no propertie of goods all trafficke would cease Neuerthelesse the Equalitie and Equitie in the course of Commerce must be obserued to auoid the ouerballancing of commodities as in the precedent Chapter is mentioned which requireth a third consideration of an other kind of equalitie For as we haue noted with Aristotle Riches is either Naturall or Artificiall The Naturall riches as Lands Vines Forrests Meddowes and the like The Artificiall as Money Gold Siluer Cloth and all other Manufactures and houshold Stuffe Now as this Artificiall riches is proceeding of the Naturall riches and that both these doe receiue their price and estimation by money So reason requireth a certaine equalitie betweene them which wee find to bee defectiue which is concerning the price of lands To prooue our Assertion wee can hardly make this inequalitie appeare albeit wee doe find the want of the treasure transported from vs into the parts beyond the Seas For it befalleth vnto vs concerning monyes and wealth as it doth to a Generall of a Campe of ten thousand supposed armed men whereof muster being taken at seuerall times and vpon seuerall dayes all of them are found to bee armed because they lend their Armour to each other whereas if they were all mustred in a day and at one instant a great part of them would bee found to want Armour So the like want of monyes and wealth would be found if rich men were examined for their personall estates vpon any vrgent occasion And now let vs examine the commodities of all countries beginning from the East and ending in the West Of the goodnesse and value of East India Commodities THe Merchants Trade for the East Indies tooke beginning in England in the yeare 1600 At which time Spices and all other Commodities were bought for the prices hereafter declared translated out of the Portugall tongue with my additions and obseruations concerning the goodnesse of those Commodities Cloues Cloues growing in the Ilands of Moluccos being cleane of Stalkes by the Portugal called Fusties Fusses were sold for fiftie Pardaos the Kintal or the 100 weight of 112 ll correspondent with our London quintal or hundreth accounting the Pardao or Ducatt at 5 ss is about 27 pence the pound There is another leaner and drier sort of Cloues called Crauo di Bastao which is sold for 25 ducatts which the Portugalls doe mingle many times the difference is halfe in halfe in price and the pound at 13 ½ pence Mace Mace being of a faire colour and large which groweth vpon the Nutmegs and is had also in the Iland of Bantan was sold for 74 Ducatts the hundreth which is 40 pence starling the pound Nuttmegs Nutmegs in the said places were sold for 15 Ducatts is 75 ss the hundreth and the pound weight eight pence starling Ginger Ginger being dry from Calicout called Belledin or ashe colour Ginger at 9 Ducats the hundreth is 45 ss and the pound at 5 pence or thereabouts There is an inferiour sort called Mechino of six Ducatts the Quintall Ginger in conserue at 13 ½ Ducatts is about 7 ½ pence the pound Sinamon Sinamon of Zeilan growing in that Iland was sold at thirtie
a man for euery moneth besides the ships fraight and mens wages which may be agreed vpon diuersly And commonly the Company is permitted to haue one third the Owners of the ship one third and the Merchant or Merchandize one third all other incident charges to bee borne accordingly betweene them whereof Indentures of couenants are made Hauing reserued to intreat of this important businesse of Fishing in the end of this first Part of Lex Mercatoria concerning commodities which are compared to the Body of Traffick together with the Sea-lawes obserued therein with all other Customes of Commerce Let vs now proceed to the Second Part touching Moneys being the Soule of Trafficke which in times past were noted to be raised by the fishing trade now so much neglected appertaining to the Kingdoms of Great Brittaine and Ireland as hath beene shewed euen by originall Antiquitie The correspondence and long entercourse between the Societie of Gold-smiths and Fishmongers alludeth hereunto For Saint Dunstane the Bishop The allusion of Saint Dunstone termed to be the Patron of the Company of Gold-smiths had no other Elixer or Philosophers stone than the Gold and Siluer which by the benefit of fishing was obtained whereby the Kingdomes Plate and Bullion was procured For the aduancement of which fishing Trade he did aduise That three fishing dayes ought to be kept euery weeke which caused also more abstinence and hence the Prouerbe came That Saint Dunstane tooke the Deuill by the nose with his pinchers Which Custome if it were better obserued with vs would proue very beneficiall to the State and Common-wealth * ⎠* THE SECOND PART OF LEX MERCATORIA or the Auncient Law-Merchant concerning Moneys compared to the Soule of TRAFFICKE and COMMERCE WEe haue alreadie compared the three Simples or Essentiall parts of Trafficke namely Commodities Money and Exchange of Moneys vnto the Bodie Soule and Spirit And in our first pâ—rt of Lex Mercatoria treated of Commodities as the Bodie of Trafficke with the dependances thereupon as being properly the causes of Commerce with their Effects Adiâ—ncts and Accidents which methode we are now also to obserue in this second part of the Law-Merchant concerning Moneys compared to the Soule which infuseth life vnto Trafficke by the meanes of Eqâ—alitie and Equitie preuenting aduantage betweene Buyers and Sellers And because Money is made of Mettals wherof we haue not spoken in the Chapter of the Commodities whereby Commerce is maintained here we are to begin with the verie originall of Mettals and Mines as a matter worthie the knowledge of Merchants and others First we find That when commodities began much to abound in the world all manner of mettall as Gold Siluer Copper Tin Lead and Yron grew into greater estimation as being fit and more dureable for preseruation and so the purest and finest Mettall most esteemed At which time the riches of men was notwithstanding described to consist of cattel commodities and other moueables Pecuâ—ia non Pecuâ—aâ—ia and there was a commutation of commodities as hath beene declared which was found to be verie cumbersome The beginning of Moneys and did require much carriage of wares vp and downe from one countrie vnto another by reason whereof Money was deuised to be coyned to be the rule and square whereby all other things should receiue estimation and price and as it were become a measure whereby the price of all things might be set Publica Mensura to maintaine a certaine euenhood or equalitie in buying and selling and the same to haue his standing valuation only by publicke authoritie to the end that all things might equally passe by trade from one man to another Denomination of Money Concerning the denomination of Money it is deriued of Moneta which proceedeth a monendo to shew you the name of the Prince vel nummi nota and consequently the price of the peece of coyne by his authoritie made stamped and valued Pecus fuit Pecuniae fundamentum Pecunia is deriued a Pecude of Cattell as of Sheepe and Oxen the figure whereof was coyned thereupon Nummus a numerando vel nomine of the name of the Prince stamped vpon it and also so called Carolus Guildren or Floren so a Ducat of Ducatus the name of a Duke And in times past being called Stipendium was à stipe pendo before the same was coyned with a stampe but made and weighed being siluer as the Cicle of the Hebrewes The Romans in times past vsed copper Moneys calling their Exchequer Aerarium So in Germanie it is called Argentarium of the Siluer and being kept at Strasbourgh that citie is called Argentina The first Siluer moneys coyned was the 484 yeare of the foundation of Rome And the coynes of Gold was sixtie and two yeres after that Since the foundation of Rome vntill the yeare of 1622 are 2373 yeares Sterling Standerd altered in the valuation The sterling Standard of the Moneys of England was first coyned at a place so called by Osbright a Saxon King of England aboue seuâ—n hundreth yeares since at which time an ounce of Siluer was diuided into twentie peeces and so esteemed twentie pence as who should say so many peeces which so continued by denomination vntill King Henrie the sixth his time who in regard of the inhancing of Moneys in forreine parts valued the same at thirtie pence But there was more peeces made out of the said ounce and the former peeces went for three halfe pence vntill the time of King Edward the fourth and then they were currant for two pence and the said King did value the said ounce at fortie pence vntill King Henrie the eight did value the ounce of sterling Siluer at fortie and fiue pence and so continued vntill King Edward the sixth and vntill Queene Elizabeth her time and then the verie same peece or the same penie was valued at three pence and so did all three pences coyned by the said Queene weigh but a pennie weight and the sixe pence two pennie weight and accordingly the shilling and other peeces which made the ounce to be valued at sixtie pence or fiue shillings whereof twelue ounces make the pound Troy weight The pound Troy diuided by weigâ—t which remained diuided neuerthelesse in twentie pennie weight for the said ounce being still the same in weight did retaine the same name and foure and twentie graines also for euerie pennie weight and according to the said pound weight is the finesse of Siluer also diuided For if it be all pure Siluer without any Copper called Allay it is iustly called twelue ounces fine because that pound weighed twelue ounces and hath no mixture in it The pound of Siluer diuided in finesse and so euerie ounce is consequently twentie pennie weight in finesse and euerie pennie weight is twentie and foure graines in finesse The finesse of Gold is twentie and foure Carrats Finesse of Gold and euerie Carrat is foure graines in finesse and was
heretofore accounted two Carrats for an ounce of Siluer And all moneys of Gold and Siluer do participate of this finesse according to their substance which maketh their standards thereafter whereby the sterling standard containeth eleuen ounces and two penie weight of fine Siluer and eighteen pennie weight of Copper and our Angell Gold holdeth twentie and three Carrats three graines and one halfe and halfe a graine of Allay as shall be hereafter more amplie declared together with the proportion betweene Gold and Siluer Let vs now speake of the properties of Moneys in the course of Trafficke and make the effects thereof apparant The propertieâ— of Moneys The first propertie is That plentie of Money maketh generally all things deere and scarcitie of Money maketh generally things good cheape whereas particularly commodities are also deere or good cheape according to plentie or scarcitie of the commodities themselues and the vse of them Money then as the Bloud in the bodie containeth the Soule which infuseth life for if Money be wanting Trafficke doth decrease although commodities be aboundant and good cheape and on the contrarie if Moneys be plentifull Commerce increaseth although commodities be scarce and the price thereof is thereby more aduanced Nay by Money a trade is made for the imployment of it both at home and abroad For those countries where things are good cheape are destitute of trade and want Moneys and although things for the bellie are good cheape there is lesse benefit to be made by Merchants According to plentie or scarcitie of Money then generally commodities become deere or good cheape and so it came to passe of late yeares that euerie thing is inhaunced in price by the aboundance of Bullion and Moneys which came from the West-Indies into Europe which like vnto an Ocean The Ocean of Moneys hath diuided her course into seuerell branches through all countries and the Money it selfe being altered by valuation as aforesaid caused the measure to be made lesser whereby the number did increase to make vp the tale being augmented by denomination from twentie to sixtie or of those latter yeares from fortie to sixtie So that plentie of Money concurring herein made euerie thing deerer and especially the forreine commodities as we haue noted before which caused some men to be of opinion That our Moneys should be more inhaunced as it were striuing therein to exceed other nations wherein they are farre from the marke Alteration of Mâ—ney altereth the price of things for if that were done not onely all the forreine commodities would be deerer but also our home commodities howbeit onely in name The like would happen if Moneys were by allay of Copper imbased as experience hath proued in the time of King Henrie the eight and of latter yeares in the realme of Ireland so that we see the Prouerbe to be true That the vnknowne disease putteth out the Physitians eye The plentie of Money required must be not with a consideration that we haue or may seeme to haue more moneys than in times past but according to the present great quantitie and aboundance of Moneyes now found in all countries which in effect haue more proportionable part thereof than England hath Neither was Money more plentifull when an ounce of Siluer was valued but twentie pence iudging of Money as we do of Commodities either deere or good cheape according to the price for Money must be still the measure and ouerruleth the course of Commodities Howbeit Exchange of Moneys is predominant ouer Commodities and Moneys as shall be declared hereafter The second propertie of Money proceeding from the operation of Vsurie deuised thereupon The operation of Money by the rate of Vsurie whereby the measure is ingrossed and also falsified is That the rate of Vsurie is become the measure whereby all men trade purchase build plant or any other waies bargaine and consequently all things depending vpon the premisses are ruled and gouerned accordingly as in the Chapter of Vsurie Politicke is declared to the decrease of Trafficke and Trade Moneys will haue substanall value really The last propertie of Money is to haue an internall value in substance whereupon the Exchanges of Money are grounded in so much that in countries where the transportation of Money is prohibited and Merchants Strangers and others are commaunded to make their returnes in Commodities or by Exchange if the Moneys be base or of Copper the value in Exchange will be made accordingly to the vtter ouerthrow of all Commerce for Moneys will haue substantiall value Thus much for an Introduction concerning Moneys Now let vs beginne from the originall of Mettalls and so descend to the Particulars and Accidents * ⎠* CHAP. I. Of the Essence or Existence of Mettalls ALl Philosophers by the light of Nature and long obseruation haue determined that the sperme or seed of all things created of the foure Elements doth in a secret manner lowre within the two Elements of Water and Earth and that Nature doth continually worke to produce perfect things but is hindered therein by accidentall causes wâ—ich are the begetters of corruption and imperfection of all things whereby we haue varietie of things which are delectable to the spirit of man Herein they obserue the operation of the Sunne and Moone Vegitatiue Sensitiue and Rationall and the other Planets and Starres in the generation of all things which either haue a Being or Existence as the Elements haue or a Being and Life as vegitable Trees or Plants or a Being Life and Sense as Beasts Birds and other liuing creatures or a Being Life Sense and Reason as Man hath and all reasonable creatures which knowledge and wisedome no doubt the holy Prophet Moses did learne amongst the Egyptians Acts 7.22 But had these Philosophers read the * Genesis Booke of Moses of Creation and Generation they would not haue ascribed the guiding and conducting of all naturall things to the two Leaders namely the Starres and Nature Hence it procedeth that amongst vegitable things which haue a Being and Life they reckon all mettalls which haue their beginning from Sulphur and Mercury Tanquam ex patre matre which meeting and concurring together in the veines of the earth doe ingender through the heat and qualitie of the Climate by an assiduall concoction according to the nature of the earth wherein they meet which being either good and pure or stinking and corrupt produceth the diuersitie of the mettalls of Gold Siluer Copper Tin Lead and Yron in their seuerall natures and hereupon they haue assigned them vnder their distinct Planets to bee beneuolent or maleuolent The Planets of Metalls as Lead vnder Saturne Tinne vnder Iupiter Yron vnder Mars Gold vnder Sol Copper vnder Venus Quickesiluer vnder Mercury and Siluer vnder Luna So Mercury or Quickesiluer is one of the seuen mettals which being volatile and by his volubilitie running with euery one is in nature as they are either good or euill And howsoeuer they
followers and subiects with better pay Worthie of perpetuall remembrance is that noble Prince King Henrie the seuenth Notable example of King Henrie the seuenth who in his singular wisdome and pollicie knowing how Princes are subiect to bee wronged by their officers in the disposing of their treasure by fraudulent and deceitfull accounts which either by ignorance or otherwise by conniuence do passe did himselfe with great facilitie take an inspection in all his Exchequer Accounts by an abstract of the said Accounts entred in a booke by some experienced and skilfull man in Accounts whereunto his highnesse did subscribe his royall signature before the Officers vpon good certificate made to the Lord Chauncellour could haue their Quietus est passe the great Seale of England And the faid King was pleased many times to enter into particular examination of some of the Accounts whereby he did strike a terror into the hearts of the officers so that they became more carefull and durst not commit any fraud or deceit by combination or tolleration but his treasure was duely administred and preserued This Signature of the Kings in the said booke is extant to be seene in his Maiesties Exchequer Prouidence of the French King Henrie the fourth Vrgent necessitie caused the late French King Henrie the fourth when he was King of Nauarre to be present in the disposing of his treasure in so much that afterwards in possessing the Diademe of all France and calling to remembrance his former obseruation by comparing things to their first principles he found that of euerie French crowne being sixtie soulz which his coffers should receiue there came not aboue the fourth part de claro vnto him Whereupon by rooting out of corruption deposing of needlesse officers profitable emptions of things necessarie and by wise disposing of them he brought è contrario three parts of euerie crowne vnto his coffers and did in progresse of time accumulate a verie great treasure and yet did he increase officers fees according to the alteration of time which by accidentall causes had made euerie thing deerer Factors Accounts Thus much obiter Now if a Merchant be also a Factor for others in the buying and selling of Commodities deliuering of Moneys at interest and by dealings in Exchanges and Râ—changes hauing factoridge allowed vnto him for the same according to the manner of Merchants some more and some lesse as they agree betweâ—ne them the difference in keeping other mens Accounts with whom they haue any correspondence is but small for if it be for goods or merchandises sold they will intitle the Account Goods of the Account of such a man do owe vnto Cash such a summe paied for Custome and Charges or if it be for goods bought he will do the like and discharge the Accounts by making the said Merchant Debitor or Creditor for it is as the said Accounts require which he doth also charge with factoridge or prouision for his sallarie and therfore all Factors keepe a particular Account to know what they haue gotten by factoridge or prouision at the yeares end and then they charge that Account with their charges and all such expences as they haue been at and the remainder is posted to Capitall as in the Account of Profit or Losse whereupon some others do bring their charges and expâ—nces and so carrie all the prouision to Capitall or Stocke Herein euerie man may vse his pleasure for this manner of Account affoordeth many distinctions all which seuerall branches or members of Account may be brought to make vp the the compleat Bodie for by the dismembring of an Account Dismembring of Accounts separating euerie thing in his proper nature you are inabled to find out many errours and intricatenes of Accounts by reducing the Bodie of it to his perfection In this place may be expected a declaration of the seuerall coynes or calculation of moneys wherein the Bookes of Merchants Accounts are kept beyond the Seas But because the same is founded vpon the seuerall exchanges betweene Countrey and Countreys I haue thought good to referre the same in the proper place of exchanges hereafter following and to conclude this Second Part of Lex Mercatoria with that notable question made by the Ciuilians A Question made by Ciuilians about Bookes of Account Whether a Merchant or a Banker keeping two Bookes of Account the one concerning the moneys of his Banke and the other touching trade of Merchandise for wares shall bee censured alike for such moneys as hee oweth vnto his Creditors So that the Creditors after his decease shall all stand in equall degree to be payed either in the whole or in part if the Bankers estate bee not sufficient for the payment thâ—rof Herein the Iudges of Merchants do make no difference but the Ciuilians haue made a great distinction therein and they say That the Booke of the Banke is more to bee credited than the other For saith Benuenuto Straccha the Booke of the Banke was kept publikely and the other as it were secret to himselfe so that the Creditors of the one are to bee distinguished from the other as being two negotiations and to bee dealt therein according to their seuerall natures and the meanes thereof extant with such considerations as may bee incident thereunto To declare my owne opinion I say That the Canon and Ciuile Law making no distinction in the payment of the Testators Debts betweene moneys owing for wares or for interest there ought not to be any difference in the nature of the debts in regard of the Bookes of Accounts * ⎠* The End of the Second Part. THE THIRD PART OF LEX MERCATORIA OR THE Ancient Law-Merchant concerning Exchanges for Moneys by Billes of Exchanges compared to the Spirit or Facultie of the Soule of TRAFFICKE and COMMERCE HAVING in the First and Second Part of this Booke intreated of the Bodie and Soule of Trafficke namely Commodities and Moneys Let vs now handle the predominant part of the course of Trafficke which is the Exchange for moneys by Bils of Exchanges for forrain parts compared to the Spirit or Facultie of the Soule For as moneys do infuse life to commodities by the meanes of Equalitie and Equitie preuenting aduantage betweene Buyers and Sellers so Exchange for moneys by Bills of Exchanges being seated euerie where corroborateth the Vitall Spirit of Trafficke directing and controlling by iust proportions the prices and values of commodities and money as shall be declared Many men cannot well discerne the distinction of the Spirit in sundrie matters because man consisting of Bodie and Soule that which belongeth to the Spirit is comprized vnder the name Soule but if they be willing to vnderstand the necessarie distinction heereof reason in the Theoricke Part will demonstrate the same in the Practike Part of this discourse of Exchanges Saint Paul in the later end of his second Epistle to the Thessalonians wished a sanctification to their spirits and soules 2. Thess. 5.23 and