Page 411
For the destruction of a Common-wealth.
TO get a part and sometimes all his gaines, that imployeth money taken vp by Exchanges in wares, and so make others trauell for their gaine.
To keepe Princes for hauing any Customes, Subsidies, or Taxes vpon their money, as they imploy it not.
To value iustly any wares they carrie into any countrie, by setting them at that value, as the money that bought them was then at by Exchange in the countrie whither they be carried.
For the better explanation of the premisses, let vs remember the description of a Banke heretofore declared, and therein obserue that great power and commaund which is giuen them by the common∣wealth, to incorporate moneys by the meanes of Exchanges, making it to become a merchandise, and to ouerrule the course of com∣modities.
Some men are of opinion, that the price of Exchanges are made by an indifferent course, because the Bankers at the time of the pay∣ments of Exchanges in the principall places (as Lyons in France, Ma∣drill and other places in Spaine, Florence and Genoa in Italie, Bizan∣son, and other places elsewhere) haue a meeting, and by certaine tick∣ets in writing euerie man doth deliuer his opinion, what the price of Exchange ought to be for all places then exchanging for the next Faire, or time of payment. And according to the same the calculati∣on is cast vp by the Medium, that is to say, if there be seuen or more voices or tickets, the said seuen are added together, and the seuenth part is the Medium; if there be ten, then the same being cast vp, the tenth part is the Medium, and so for greater or lesser numbers accor∣dingly. But these men are ignorant of the Bankers obseruations, for they all know how the plentie of money lyeth by Exchanges, and they concur in making the price for their aduantage, and so iumpe all to one end vpon the imaginarie moneys before declared, which ma∣keth the maine ocean of Exchanges, wherein the Exchanges of Eng∣land are swallowed vp as a little riuer or braunch of the same, taking still aduantage vpon our fine moneys and staple wares to glut vs with their forreine commodities at deere rates. And hence proceedeth the Primum mobile of Exchanges, which is the cause of inequalitie so much abused from the true Exchange of par pro pari, and neuerthe∣lesse admitted to be high and low vpon iust occasion aboue the same, as money is plentifull or scarce, or the takers of it many or few.
To this purpose, let vs remember, that about seuentie yeares past, betwene this realme and the Low-countries, many of their coynes (although much differing in standards) did in the pound or marke weight, and in the verie peece and price answere the coynes of the kingdome, and did containe as much fine gold and siluer as ours, and were also named and valued accordingly, whereby twentie shillings