The center of The circle of commerce. Or, A refutation of a treatise, intituled The circle of commerce, or The ballance of trade, lately published by E.M. By Gerard Malynes merchant

The second Assertion therefore is, that this imaginary blessing arising by the intended employment to be made in Silkes and Indico, is mistaken, and hurt∣full to the Realme: especially if the Manufactures of Silke be increased in derogation of the Manu∣facture of our natiue materialls.

BVt some affectioned East India Merchant will say, that the generall account aforesaid to make fiue and one third part for one, is a great matter of benefit towards custome, charges, and all other things incident to trade. For the Author doth say, that 10 s. employed in Pepper in the East Indies, will require but 35 s. for all charges whatsoeuer de∣liuered in London, which is 3 ^• ₂. for one.

This Merchant cannot inforce his argument for want of a true iudgement; for he might haue made a better conclusion, to say Pepper doth cost but 2 d ½ the pound, and is sold for 20 d. which is 8 for one, as aforesaid. And if with all charges in London it co∣meth but to 3 ½, then the benefit of 4 ½ for one is an admirable gaine to inrich himselfe and the com∣mon wealth.

This iudgement vpon a particular, seemeth to

proue a far greater gaine then the abouesaid gene∣rall gaine of 5 ⅓ for one. But to find out the truth, there must be a nearer calculation made, by a true distinction of the managing of the Stock remaining at home, which was neuer adventured, and the a∣foresaid stock of moneys and commodities sent in∣to the Indies, and what both these did amount vnto. Next, if the goods taken from the Indians and Por∣tugals be comprehended in the said returne, where∣of the said sum of 1914 thousand 600 l was made, then the case is altered, and wil not produce the one halfe. Lastly, the building and repairing of Ships, Wharfes, houses, magazins, and the like emploi∣ment of the stocke at home, together with the al∣lowances of Officers, Mariners, and seruants wages, will come to an incredible summe.

But let vs come to the generall consideration of this Trade, respecting the weale publicke, by com∣paring the same to the former trade maintained by the Portugals along the Cape of Good Hope; which is more proper then to compare the same to the trade betweene vs and Turkie and the said East In∣dies: for the trade of Portugall made the Merchants trading Turkie, to sell the Spices brought from Alep∣po to losse, because the Camels back could not passe the needles eye, without great charges & difficulty: neuerthelesse that trade was very profitable to the kingdome, selling our kersies, broad-clothes, tinne, and many other our natiue commodities with 60 pro cento gaine; and there is far more to be gotten by raw silkes bought at Aleppo at 12 s the pound, then to be brought from the East Indies at 8 s the

pound, which is the difference which the said An∣thor maketh, ascribing such happinesse to the trade of silke, whom Misselden doth imitate.

I may affirme by experience, that before the open warres with Spaine, the trade of Portugall and the Ilands was very profitable to the Realme: for wee made an ordinary gaine of 25 vpon the hundred, by Bayes, Sayes, Reding and Kentish clothes, Nor∣therne and Westerne kersies, stockings, and diuers other commodities: and the debts being turned o∣uer to the Contraction house, returne was made in Spices and Sugar in lesse then six months time, with little aduenture, fraught and charges, whereby the manufactures of the kingdome were aduanced, and moneys from time to time imported; and the life of Trade was felt by Merchants; Trades-men and the Mint did flourish: so that for matter of commo∣dities, there is no comparison in the sale of them in∣to Portugal with 25 pro cento in lesse then 6 months, and 22 pro cento for the East Indies in 3 yeares, be∣sides the aduenture of the Seas and enemies. And it will be proued, that the natiue commodities of the Realme vented in Portugal and Spaine before the East India trade began, did amount to 300 thousand pounds worth more then since euery yeare, which is more then all the domestique and forreine com∣modities come vnto, sent into the East Indies by the Companie those 20 yeares, to say nothing of the mortalitie of men and destruction of ships. And from Spaine we had the West India commodities, as Cutchenelle, Ginger, hides and other commodi∣ties, with the wines, raisins, oyles and all other com∣modities

of their growth for returne of ours, espe∣cially abundance of Royals of plate, now much hin∣dred by the emploiment of Tobacco.

Let vs now examine the price of Spices in those dayes within the Realme, and we shall finde that Pepper was sold for 2 s the pound, Cloues 6 s, Mace 7 s, Nutmegs 3 s, and Indico 6 s; which small diffe∣renc in price, for so much as is yearely spent in Eng∣land, may be declared by the proportion set down by the said Author, which being calculated at 4 d. vpon a pound of Pepper, and 12 d vpon Cloues, Mace and Indico, and 6 d vpon Nutmegs, amoun¦teth but to 21166 l. 13 s 4 d.

This true account wil be proued by ancient Mer∣chants bookes, and the weekly price currant of the Brokers bils, before the open warres with Spaine. But the said Author doth set downe the prices as they were in the time of warres, when Merchants charges, aduenture and all things were increased; and herein he maketh his comparison with Turkie, and according to that computation hee affirmeth, that the trade in Spice and Indico onely, saueth the kingdome yearely 74966 l. 13 s. 4 d: and that lesse then one quarter of this summe shall buy in the In∣dies the proportion of the yearely consumption thereof, being 400 thousand of Pepper, 40 thou∣sand of Cloues, 20 thousand of Mace, 160 thousand of Nutmegs, and 150 thousand of Indico; which calculated by the prices of them, as they were sold coming from Portugal, wil amount to 128 thousand pounds, and not 183500 l, as hee reckoneth them coming from Turkie: so that the difference between

Portugal and Turkie in this account is 55500 l, be∣ing in truth but 21666 l. 13. 4. to be reckoned vpon the said allegation.

Notes

• 2. Assertion.
• P. 13.
• The Trade for Turkey.
• The Trade for Portugall and the Ilands.
• The Trade for Spaine.
• P. 44.
• P. 45.