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A57520 Sir Thomas Roe his speech in Parliament wherein he sheweth the cause of the decay of coyne and trade in this land, especially of merchants trade, and also propoundeth a vvay to the House, how they may be increased.; Speech in Parliament wherein he sheweth the cause of the decay of coyne and trade in this land, especially of merchants trade Roe, Thomas, Sir, 1581?-1644. 1641 (1641) Wing R1781; ESTC R12658 6,562 14

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if the causes change the effects will follow Now it is true that our great Trade depends upon the troubles of our neighbours and wee enjoy almost the Trade of Christendome but if a peace happen betwixt France Spaine and the Vnited Provinces all these will share what we now possesse alone and therefore wee must provide for that day for nothing stands secure but upon his owne foundation To make then our owne Trade secure we must consider our owne Staple-commodities whereof Wooll is the chiefest and seeke the way to both to keepe up the price at home and the estimation of all commodity made of that and to be vented abroad Some other helpes we have as Tynne Lead and such like but I dare confidently affirme That nothing exported of our owne growth hath balanced our riotous consumption at home but those forraine commodi ies which I call naturalized that is that surplus of our East-India Trade which being brought home in greater quantity then are spent within the Kingdome are exported againe and become in value and use as naturall commodities and therefore by the way I hold it absolutely necessary to maintaine that Trade by a regulation with the Dutch of which more reason shall be given when that particular shall be taken into consideration We have yet another great helpe which is our owne and wants only our industry to gather the harvest which is our fishing and erecting of Busses both for the enriching of our Kingdome and the breeding of Mariners and this by private industry though to private losse is beaten out already and shall be offered to the Common-wealth if they please to accept of it and to give you one onely encouragement I doe avow that before the Dutch were lately interrupted by the Dunkerks by their industry and our fish they made at great Returnes betweene Dansicke and Naples as the value of all our Cloth which is one million yearely and this in a due place I desire should have his due weight and consideration We have one helpe more if we knew how to use it that is by the new drained Lands in the Fens most fit for Flax and Hempe to make all sorts of Linen for the body for the house and sailes for ships that is a Dutch and French Trade but in Holland one Acre of ground is rented at three pounds which if the Hollanders may have in the Fens for 10. s. or 12. s. it will be easie to draw the manufacture into England which will set infinite people a worke and we may be able to serve other Nations with that which we buy deare from them and then the State and Kingdome will be happy and rich when the Kings customes shall depend upon commodities exported and those able to returne all things which we want and then our money must stay within our Kingdome and all the trade returne in money to incourage you to this I give you one example That if the severall sorts of Callicoes made of Cotton woolls in the Moguls and Dans Dominions doth clothe from head to foot all Asia a part of Europe Aegypt much of Africa and the Easterne Islands as farre as Sumatra which makes that Prince without Mines the richest Prince in the world and by his Majesties Grace and Priviledges granted to the Dutch I am confident wee may make and undersell in all Linen cloth in all the Nations in Europe But I have now wandred far from my Theam which was the decay of Trade and of Woollen commodity I must first therefore present to your consideration the causes thereof in my observations whereof some are internall and some externall The internall have proceeded from her owne false making a stretchning and such like practices whereby indeed our Cloth is discredited I speake by experience from Dansick and Holland northward to Constantinople as I will instance in due time This false Lucre of our owne and the interruption in the dying and dressing projected and not overcome gave the first wound though could it have beene compassed had doubled the value of our Commodity This hath caused the Dutch Silesians and Venetians to attempt the making of Cloath and now byy experience as I am informed the halfe is not vented that was in the latter Age Another internall cause hath risen from such Impositions as hath made our cloath too deare abroad and consequently taught others to provide for themselves Another internall cause hath sprung from pressaries upon tender consciences that many of our Clothiers and others have forsaken the Kingdome and carried their Arts with them to the unexpressable det●iment of the Common-wealth The externall causes have been the want of perfection and countenance to our Merchants established abroad in Factories by the State and by the Treaties whereby the Capitulations have not beene kept nor assured unto them neither in Prussia nor in the ●ound nor Humburgh nor Holland nor in the East and this I dare say that Laban never changed Iacobs wages so often as the Hollanders have forced our Merchants to change their residences and the very course of this Trade by Lawes and Tricks for their own advantage of which the Merchant adventurers will more fully informe you Another externall cause is lamentable Report the increase of the Pirates and the insecurity of the Meditirranean Seas whereby Bristow and the Westerne Ports that cannot have so great shipping as London are beaten out of Trade and fishing and if once those Theeves shal finde the way to Banke and New-found-land they will undo the West parts of England I will trouble you with a Consideration very considerable in our Government whether indeed London doth not monopolize all Trade in my opinion it is no good state of a body to have a fat Head thin Guts and leane Members But to bring something before you of Remedy I say thus for my first ground that if our Cloth be not vented as in former yeeres let us imbrace some other way to spend and vent our Wools Cloth is a heavie and hot wearing and serves but one cold corner of the World But if we embrace the new Draperies and encourage the Wallons and others by Priviledges and Naturalizations we shall imploy all the wooll we have set more people a worke then by Cloth and a pound of wooll in those stuffes true made will out-sell two pounds in cloth and this we may supply France Italy Spaine Barbary and some parts of Asia by such light and fine stuffes as will fit those warmer Regions and yet have sufficient for the cold Climates to be spent and adventured in true made cloth by the reputation both of our Nation and commodity But in this course I must observe that these strangers so fit to be nourished and being Protestants may have priviledges to use their owne rights in Religion so as they be not scandalous as the Dutch and French had granted unto them by Queene Elizabeth and certainly the setling of religion secure in England the fear wherof
Sir Thomas Roe HIS SPEECH IN PARLIAMENT WHEREIN He sheweth the cause of the decay of Coyne and Trade in this Land especially of Merchants Trade And also propoundeth a VVay to the House how they may be increased Printed in the yeare 1641. SIR THOMAS ROE HIS SPEECH IN PARLIAMENT 1640. IT is a generall opinion that the Trade of England was never greater and it may be true that if it be so yet it will not absolutely conclude that the Kingdome doth increase in riches for the Trade may be very aboundant and yet by consumption and importance of more then is expected the stock may waste The Balance would be a true solution of the Question if it could be rightly had but by reason it must be made up by a Medium of the Books of Rates it will be very uncertaine Therefore we must seeke another rule that is more sensible upon which we may all judge and that may be by the plenty orscarcity of money for it is a true rule if money increase the Kingdome doth gaine by Trade if it be scarce it loseth Let us therefore consider first whether our Gold and Silver be not decreased and then by what meanes it is drained and lastly how it may be prevented and what remedies are appliable to effect it It is out of doubt our Gold is gone to travaile without Licence that is visible beyond Seas and every receiver of sums of money must finde it privately and I feare the same of Silver for observing the species of late Coyning many halfe Crownes were stamped which are no more to be seene and by this measure I conclude the Kingdome growes poore The causes of this decay of Money may be many it may be stolne out for profit going much higher beyond Seas especially in France and Holland Much hath beene drawne away by the Stanger upon feares of our Troubles of which I have experience by exchanges and Exchanges are the great mystery especially such as are used as a Trade and governed by Bankers who make many returnes in a yeere and gaine by every one more then the interest of a yeere and the greatest danger to a State is when money is made Merchandize which should be but the measure thereof And here I will propose a Probleme whether it were profitable to a Kingdome or not that the Stranger for many yeeres had a great stock here at interest and still hath some I confesse it hath supplied the necessities of Merchants and helped to drive Trade But my Quaere is this suppose the first principall were truely brought in by the Stanger yet doubling every tenne yeeres what becomes of the increase have they not lived by our Trade and the Merchant adventurers and soaked the Kingdome of as many times principall as they have practised this Vsury many times ten yeeres and in the end drawne or carried all away This is a point to a State very considerable Much Coyne hath been drawn away without doubt by the French who have brought in Wares of little Bulke perhaps without custome but of deare price and having turned it into Gold have returned without investing any part thereof and such petty Merchants cannot be reached by the Statute of imployments Another cause of scarcity of Coyne may be the over-strict rule of the uncurrentnes of any good Coyne and that it must be sold here as Bullion in that case what stranger will bring in money Whereas if every good species current according to this allay and weight in proportion to our Coyne or rather a little higher it will draw namely money by degrees into England as lower grounds doe water from higher though they see not the Channels and we see France Holland and Germany adm●t all good Coynes though forraigne for and above their in●nsique value But I will end this search by proposing some generall Remedies for if I doe now but make Essayes a●d give occasion to more subtill and particular disquisition 1 To the first lea●e of stealing away Coyne I would make it felony ●y an Act for if a man may justly suffer death for robbing of a private man I see no injustice nor cruelty to inflict the same punishment upon him that robs a Kingdome 2 That the neighbour Princes and States doe cry up our money and so entice it from us This in my judgement ought to be provided for by our Treaties which was the old way especially of Commerce by agreeing and publishing of Placarts according to a true Par For that Prince that will make a treatie of Commerce doth it for the use of the commodity which certainly I would deny any Prince that would not consent to keepe monies even by their true values at least that would set a higher price upon our money then the King hath done and if our Coyne did either keepe beyond the Seas the English value or were Bullion and uncurrent the stranger should have as little of our money as we have of theirs How to recover the strangers money drawne away since our troubles is a hard endeavor and can no wayes be brought to passe but by Peace and Trade and the resolution of this will fall into the generall remedy which I shall propose The pedling French Trade must be met with by diligent search at the landing of these Creamers what they bring in and by suffering none of them to passe any goods by private Warrants but that according as they shall be valued they give bond to invest it in English Commoditie naturall or naturalized and that with surety Nay in this case not to allow them exchange by bils for it will not hurt the Common-wealth if by any rigor they were beaten out of their private toyish traffique I shall not doubt to offend any but the Mint which may be recompenced to his Majesty in his Customes if money be plentifull for all goods will follow money If I did propose the currentnesse of all goods and great species of forreigne Coines for their true intrinsive value according to the pay with ours and if I say a little higher according to occasions keeping our own Coyne pure and constant to be cryed downe as much under according to occasions I thinke it will be a policy both reasonable and profitable by experience tryed in other States But leaving these Empiricall practices I come now to the great and infallible Rule and Remedy which is in plaine English to settle assure the ground of Trade upon Staple-commodities then like the Lady of Whitsonide to her Pipe-money will dance after that for as Merchandize doth follow mony so doth mony Commodity I said at first it was a generall opinion that Trade never flourished more then now and it may be so but we must consider this be not accidentall and changeable and depending more upon the iniquity or misery of the times then upon our owne foundation and industry and if that be so then it is no sure ground for a state to rely upon for