Englands vievv, in the vnmasking of two paradoxes with a replication vnto the answer of Maister Iohn Bodine. By Gerrard de Malynes Merchant.

A Geometricall Description of the world.

The circumference of the Globe, which according to the imaginarie accompt of Ptolomy, containeth 360

Geometricall degrees of 15 leagues euery degree, maketh in the whole 5400 leagues, which we do reckon af∣ter one thousand measures of land for euery league of foure English miles, or 60 miles for a degree. The Diame∣ter being 1718 2/11 leagues, making the superficies both of water and land 9278 thousand, 181 leagues, euery league being 4666⅔ measures square: which maketh the whole globe of the world to containe 43 millions of mil∣lions, 298 millions, 170 thousand measures of land and water: whereof the water being deducted, accoump∣ting aboue two third parts of the whole, and the other third for the earth; there remaineth (not accomp∣ting fractions and vnnecessarie num∣bers) nine millions of millions, 381 millions, 627 thousand measures of land, knowne to be inhabited: wher∣of followeth a particular distribution vpon euery kingdome and countrie,

with a note of their situation.

Beginning our voyage from En∣gland the most renowned Iland in the world, and trauelling all the world o∣uer (which by water may be compas∣sed in one yeare and a halfe) as may be seene by the globe set foorth at the charges of Maister Sanderson, by the voyages of Sir Francis Drake, and Sir Thomas Candish knights: we find En∣gland with the Ilands adiacent vnder her Maiesties dominion, to containe 34 millions 438 thousand measures of land, after the computation afore∣said.

Ireland the Iland which lieth most West of those that be of any fame, containeth 21 millions 785 thousand measures.

Scotland being adioyned to Eng∣land containeth 12 millions 250 thou∣sand measures.

The most Westerne countrey of Europe is Spaine: which is bounded

the South with the Mediterranean sea: on the West with the Atlanticke: on the North with the Oceanus Can∣tabricus, or the Spanish seas: & on the East with Fraunce, from which it is seuered with the Pireney hils. Vnder Spaine we reckon the eight kingdoms following:

Castile containing	31, 886. m.
Andaluzia	3, 700. m.
Granado	3, 150. m.
Nauarre	1, 868. m.
Portugal	12, 600. m.
Leon gallicia	9, 520. m.
Arragon	16, 760. m.
Biscay	4, 666. m.
	All, 84, 150. m. measures of land.

Fraunce, which is bounded on the West with the Pirency hilles: on the North with the English seas: on the East with Germanie: on the South∣east with the Alpe hilles: and on the Southwest with the Mediterranean sea: containing 32 Prouinces.

Normandie	2, 022. m.
Campagney	1, 785. m.
Xantogne	1, 791. m.
Poitou	2, 644. m.
Berry	1, 437. m.
Limogis	140. m.
Picardie	1, 307. m.
Anjou	840. m.
Calis	46. m.
Bulleyn	135. m.
Languedoc	2, 240. m.
Dauphiney	900. m.
Burgundie	757. m.
Prouence	1, 178. m.
Vermandois	116. m.
And Vienois, Lionois, Gascoine, France, Lorreyne, Britayne, Guien, Niver∣nois, Bourbon, Auverne, Velay, Pie∣rigueux, Viemois, and the rest:	Containing all 91, 350. m. measures.

The next countrey vnto Fraunce on the East side is Germany, which is bounded on the West with Fraunce, and the Low countries: on the North

with Denmarke and the Danish seas: on the East with Prussia, Poland, and Hungarie: on the Southeast with Istria and Illiricum: and the South with the Alpe hils and with Italie.

Vnder Saxonie.

Saxonia	3, 750. m.
Misnia	3, 360. m.
Turingia	1, 120. m.

Vnder Austria.

Lusatia	2, 614. m.
Slesia	5, 558. m.
Bohemia	7, 000. m.
Austria	6, 300. m.
Morauia	4, 200. m.
Beyeren	3, 360. m.
Assia	3, 947. m.
Heluetia	12, 585. m.
Basle and Swetia	2, 992. m.
Wirtenbergh	1, 270. m.
Embden	244. m.
Collen	214. m.
Salsburie	1, 089. m.
Cleues	257. m.

Gulich	357. m.
Westphalia	2, 450. m.
Ofnab	357. m.
Pomerania	3, 360. m.
Marquis brandeburgh	6, 293. m.
Machalburgh	2, 100. m.
Franconia	6, 440. m.
Tiroll	3, 360. m.
Carinthea	1, 634. m.
Stiria	1, 866. m.
Count Palatin	4, 450. m.
Oldeburg & Dulmar	462. m.
Liege	571. m.
Trier, Ments, Strasbourgh, Spiers, Wormes: together	4, 324. m.
	All, 97, 884. m. measures.

The 17 Prouinces of the Low∣countries accompting 550 townes, and 12 thousand villages, bounded on the West with Germanie and Fraunce consisting of 4 Dukedomes, 7 Earle∣domes, and 6 Seigniories.

Brabant	1, 502. m.
Guildres	420. m.

Luxenborgh	1, 400. m.
Limborgh and Walkenborgh	233. m.
Flaunders, Lyle, and Doway	1, 559. m.
Henault	1, 050. m.
Artois	722. m.
Holland	572. m.
Zealand	101. m.
Ouerysle	840. m.
Freezeland	464. m.
Malnies	15. m.
Namure	196. m.
Vtricht	227. m.
Grocninghen	250. m.
Zutphen	357. m.
Meiers 35 m. and other places of the Empire.	141. m.
	All, 10. 049. m. measures.

Italie, which lyeth on the South∣side of the Alpes and Germanie, and stretcheth it self out in length towards the South & East, may thus be descri∣bed:

Vnder Spaine.

Naples	14, 700. m.
Lombardie	2, 100. m.

Vnder Venice.

Treuisana	3, 290. m.
Verona	740. m.
Frioul	1, 400. m.
Mantua	570. m.

Vnder Rome.

Liguria	1, 865. m.
Romagnia	1520. m.
Latium	570. m.
Hetruria	642. m.
Sauoy	2, 520. m.
Piamont	2, 100. m.
Tuscane Florence	6, 160. m.
Siena	570. m.
Marca ancona	1, 790. m.
Parma plaisance	2, 015. m.
Sicily	4, 200. m.
Cyprus	2, 100. m.
Candia	2, 800. m.
Corsica	1, 680. m.
Sardegnia	5, 600. m.
	All, 55, 580. m. measures.

Prusia lying on the East & North corner of Germany.	11, 200. m.

Poland lying on the East side of Ger∣manie, containeth	21, 000. m.
Russenia	10, 500. m.
Volhimia	6, 300. m.
Massouia	2, 098. m.
Liuonia	30, 152. m.
	All, 70, 050. m. measures.

Denmarke lying on the North side of Germany, hauing on the North and East side, the kingdome of Sweden: & on the North side & West of Sweden, lyeth the kingdome of Norway, con∣taining all with their dominions, as followeth:

Denmarke	13, 643. m.
Norway	37, 296. m.
Sweden	64, 000. m.
Finland	8, 392. m.
Holsten	1, 398. m.
Ditmars	442. m.
Gothia	23, 334. m.
	All, 148, 505. m. measures.

The great Monarchie of Russia or Moscouia, beginning on the East side

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of Sweden extending it self from Lap∣land and Finmarke vnto the Caspian sea, containeth in it a great part of Eu∣rope, and part of Asia; whereof we are to make a deuision, hauing only pur∣posed to make a particular description of Europe. That part which is vnder Europe containeth 302, 957. m. mea∣sures. So all Europe containeth 940, 198. thousand measures of land.

Hungarie containing 21, 000. m. Dalmatia 4, 900. m. Transiluania, 7000. m. with whole Turky cōtaining 527,100. m. and Moscouia 187,143. m. Tartarie containing 420,000. m. Per∣sia 560,000. m. and the lands of Cali∣cout 840,000. m. maketh all Asia to containe 2567▪ 143. m. measures.

Africa & all Egypt	2240,000. m.
America containeth	1674,286. m.
Noua Spania containeth	1960,000. m.

Summa tot. 9, 381, 627. m. mea∣sures, the whole earth of 1000. mea∣sures for a league of 4 English miles.

The territorie of Rome after the foundation of Romulus did containe but 18 thousand iourneys of land, which he did deuide into three equall parts: allotting the one third, as it were Ecclesiasticall lands, for the defraying of the sacrifices: the other third to the common wealth, as it were Crowne land: and the last third part was de∣uided betweene three thousand citi∣zens of all sorts, after the rate of two iourneys for euery one.

William the conqueror, caused (af∣ter the conquest) a description to be made of the Realme of England, and the land to be measured, reseruing for the Crowne so much as he thought conuenient: and bestowing the rest vpon his Barons and Knights, he cau∣sed an imposition or taxe to be made of sixe shillings vpon euery hide of land, being twenty acres, making 160 acres to be a Knights fee. And so ha∣uing left the Dukedome of Norman∣dy

vnto Robert his eldest sonne, did thereby maintaine his royall estate & dignitie. The Grecians had diuerse meanes to maintaine their estate: but the Romaines hauing a very large and spatious iurisdiction, had most means by conquest and tribute of other na∣tions. The ordinary meanes that Prin∣ces haue now a dayes for the mainte∣nance of their royall estates or digni∣ties, may be comprehended vnder these three: The first vpon the estima∣tion of the body of their lands and dominions of all immoueable goods, according to their value by a compu∣tation vpon the hundreth, or a pro∣portion of the fruits thereof: which is comprehended vnder Natural riches.

The second vpon the things which are consumed proceeding thereof: namely of victuals, as of flesh, fish, wine, beare, fruit, and such like: of rents, as of houses and farms, liberties and franchises, manors and townes:

of fire, as of wood and coales: of ap∣parell, as of wollen clothes, silkes, furs, flaxe, and such like.

The third vpon the trade and traf∣ficke of merchandise, and vpon the persons of men according to their de∣gree and quality. Which meanes are increased by the inhabiting of coun∣tries and multitude of people: which causeth Princes to study to make their countries populous, and to increase the cōmerce & trafficke, by the gaines whereof, the wealth is increased. For albeit, that the multitude of people maketh the price of lands to rise, and victuals to become dearer: yet the Prince and the subiects meanes of maintenance do also increase, and one doth liue by another, alwayes so as there be had a singular care to set poore men on work, and that the idle droane do not consume the sweete honey.

Hereupon two speciall points are

incidently to be handled, namely, that as I haue made a commparison of country and countries vnder the do∣minion of the Princes in Europe: so is it not very difficult for me to make a comparison of the wealth thereof, and likewise of the ordinary meanes which these Princes do vse for the maintenance of their estates, and what ordinary charges and expences they do sustaine: whereby would appeare manifestly, that England is able to hold out with any kingdome in Eu∣rope. But fearing the reprehension of some Apelles (this being a matter of State) I will containe my selfe within the compasse of my profession. The second part is to delare many and di∣uerse extraordinary meanes, which Princes haue vsed heretofore, and might vse in their necessities and oc∣currences. But this would proue vn∣necessary, considering we do liue vn∣der so gratious a Princesse (whom

God long preserue to raigne ouer vs) whose most royal disposition and cle∣mency, doth rather moderate impo∣sitions and taxes, then inuent any that neuer were: her subiects also being most dutifully obedient, and thank∣fully inclined to make her Maiestie voluntarie offers of subsidies and o∣ther meanes for the generall defence of the Realme, not expecting that the same should be of them required.

Yet to giue some glaunce of com∣parison betweene England & France the greatest kingdome of Europe: let vs take notice of the obseruation of Polititians, which affirme England properly to be deuided into 52 thou∣sand villages or hamlets, as there are weekes in the yeare: much after the deuision which the Athenians made of their land in 365 parts, as there are dayes in the yeare; and to containe (as they say) 2800 thousand families, e∣uery family 6 persons, is 16800 thou∣sand

persons: England containing by our computation but 34 millions 438 thousand measures of land square: whereas Fraunce containing 91 milli∣ons 350 thousand measures of land, is but esteemed to haue 4400 thousand families, and fiue persons to euery fa∣mily: which is but 22000 thousand persons. The commodities of France are not so rich and of estimation, as the commodities of England: much lesse the commodities of Denmarke, Russia, Poland, and other great coun∣tries. Wherefore let vs now examine, for the second point concerning Ar∣tificiall riches, the goodnesse of our commodities.

Maister Bodine doth call (Salt) to be their manna, and we may call our wools to be the Golden fleece, which we shall not need to seeke in Colchos, but here in England, in regard both of their goodnesse and quantity. Great was the losse and hinderance

which the Realme receiued by the li∣cence, which king Edward the third gaue vnto king Iohn of Aragon, for to transport into Spaine certaine number of Cotswold sheep, both in respect of wools and wooll fels. For we see what great quantity of wools (bettered vn∣der their climate) doth continually come from diuerse places of the king of Spaines dominions, into Fraunce and the Low-countries: especially in Flaunders, where diuerse fine stuffes are made, and brought vnto vs and o∣ther nations, causing a decrease of the custome of the Prince, as may be knowne by this: that the custome of wooll in this king Edward his time came to aboue threescore and fiue thousand pounds yearely, the ounce of siluer being valued but at 20 pence: which would make now 200 thou∣sand pound. For there went out of the realm at the least a hundred thou∣sand sackes of wooll, whereof were

made 300 thousand clothes at the least: whereas there is now computa∣tion made of 100000 clothes yearly, or somwhat more, the custome being 35 thousand poūds. Wherby we may see manifestly, that there is a great ouer ballancing of forreine commodities with our home commodities, as shall be made more apparant.

It is wel knowne, that since the Sta∣tute made in the sixt yeare of her Ma∣iesties most happy raigne, all sorts of white clothes, haue bin amended for length & goodnesse; likewise kerseys, bayes, cottons, Northerne dozens, & diuers other kinds of clothes haue bin bettered since that time: whereas the commodities of other countries haue bene made worse. Howbeit it were to be wished, that with vs good order were taken for the continuance there∣of: as also that clothiers would deuise to make their clothes after the manner of Venice, as it were in hot-houses; sa∣uing

thereby a great part of their oyle for the making of other clothes, which is now wasted and spent: which pra∣ctise is of late put in vre by the Flem∣mings in some places; and yet can they not sell their clothes so good cheape, but that our cloth is with thē in great request. For all that mer∣chants (besides other great charges) pay vnto them aboue 20 shillings cu∣stome and licence for euery cloth to bring them thither, ouer and aboue the charges and custome of the domi∣nions of other Princes and States, when cloth is not caried directly vn∣to them.

Comming to our other Commo∣dities of lead, tinne, copper, iron, bel∣mettall, and other minerals, we shall not need to make mention of gold, siluer and copper, because our mynes do not yeeld such quantitie thereof as in other countries, which haue a bet∣ter temperature of climate to that ef∣fect.

Howbeit, greater store would be found, if men did endeuour to find the same: as for any thing we can as yet learne, one man onely hath be∣stowed extraordinarie charges there∣in, as some haue done for the copper, which by their means is found some∣what plentifull: whereby with the ad∣dition of the Calamine stone, many manuall things are now made within the realme by milles and otherwise, which heretofore were brought vnto vs. And now let vs speake of the parti∣culars, as of lead, tinne, and iron.

Our lead (whereof we haue abun∣dance) doth exceed in goodnesse that of Germany and other countries, and containeth more siluer then theirs, which is blacke, harder and vncleane: and therefore serueth them to make peeces of Ordinance, whereof the Duke of Brunswicke hath good store. But iron is farre better for that pur∣pose: and that which is found in o∣ther

places is not comparable vnto ours, neither hath any Prince the like.

Tinne, a most royall Commodity, is exceeding in goodnesse all other Tinne found elsewhere, which is but litle, as it is not very abundant with vs. For all our mynes do not yeeld a∣boue 10 or 12 hundred thousand pound waight yearely at the most; which in regard of the vse thereof, is and hath bene sold by vs very good cheape, especially in such places from whence wee bring very corruptible Cōmodities of wines, raisins, prunes, currans & such like: giuing them this & the like staple Cōmoditie for them. We haue noted how of late yeares, gold, siluer, copper, iron, and lead, haue bene found more plentifully then in times past: but we cannot say so of Tinne, the vse thereof in Turky and other places being considered. By reason whereof, if heretofore the proportion of mettals obserued by

the Germaines and other nations, was 150 pound waight of copper to one pound of siluer, or 700 pound of i∣ron, 600 p. of lead, or 25 pounds of quicksiluer, and but one hundred p. of tin: much more ought we to di∣minish this proportion••, considering (as aforesaid) the great quantitie of al other mettals found in diuerse places, and but this small parcell of Tinne of that rare goodnesse found onely in England: where aboue 80 years past, the price thereof was about forty shil∣lings the hundred, when anounce of siluer was esteemed forty pence, and when the best veluet was sold for ten shillings the yard. And omitting to speake of saltpeter, coppresse, allume, and such like minerals (whereof wee haue great store) let vs conclude with the consideration of the great abun∣dance of sea-coles, that are found in England: the price whereof might (with more reason) be farre aduaun∣ced

aboue the price of salt The Man∣na of Fraunce: seeing that (as Maister Bodine hath noted of all mines) the mines hereof can be exhausted, and so cannot salt be, which with lesse labor doth in a manner raine from heauen vnder their climate: the rather for that woods are not onely decreasing with vs, but also with other nations that shall in time haue as much neede of our coales, as we of their salt: wher∣of the impost in Fraunce amounteth to 450 thousand pound starling year∣ly, as the matter is handled.

Safforne and cony skins are two commodities exceeding also in good∣nesse: likewise corne, beare, fels, tal∣low, hops, wood, hose, and many o∣ther things are all better then the like had in other countries; and so might leather be, if the lawes did suffer it to be dressed accordingly. For albeit that the difference of water in good∣nesse for that purpose maketh an alte∣ration:

yet they might be qualified and made seruiceable to that effect. Our waxe is also better then that of Moscouia and the East countries: and this being a commodity had with lit∣tle labour, and without the vse of much ground, and of late yeares ad∣uanced in price; we would exhort ma∣ny to practise the hauing thereof, in regard both of the honny and waxe, the rather for that the making of Bees of a Heighfer is naturall. Whereupon Plinie hath noted, that the flesh of oxē is conuerted into Bees, as the flesh of horses into waspes, that of man into lice, and so of other flesh according to the nature thereof: but I will not af∣firme, that the flesh of a Cuckow is conuerted into toads, as some do re∣port.

Touching the price of our commo∣dities, which certainly may be known as of tinne, lead, and certaine knowne sorts of clothes: we shall find, that

when an ounce of siluer was valued at 40 pence, tinne was worth (as we haue sayd) about 40 shillings the hundreth, which now maketh 3 pound, and the price thereof in regard of veluet, silkes and other commodities, ought now to be 5 pound a hundreth all circum∣stances considered. Wooll was worth 10 shillings the tod, equivalent with the best yeard of veluet: colour kentish cloths, not of so good making as now, were ordinarily sold for 8 and 9 pound the cloth of that mony which is now 12 pound and 13 pound 10 shillings: calue skins 5 shillings the do∣zen: Deuonshire kersies, and all other cloth accordingly. At which time the bale of Venice fustians was sold for 18 pound: of horne fustians 15 pound: the best blacke Sattine 6 shillings the yeard: colour Damaske and Sattine 5 shillings: Bolonia Sarcenet 20 pence the yeard: all by retaile; millian fusti∣ans 18 and 19 shillings the peece: Mes∣sina

silke 8 shillings the pound: vnwa∣tred Chamblet 13 shillings the peece, and all other Italian wares according∣ly; which (although they are now more vsed then in those dayes) can∣not counteruaile the difference in price being compared together, be∣cause that the making thereof in Italy and France is also much more increa∣sed, and on the contrary the making of cloth much diminished since that time. And in this place we must not forget to mention of the making of Venice gold thred, which might be more practised and made in England then it is, to set poore people on worke, and so be had farre better cheape. For we shall find that where∣as the pound of 12 ounces is now or∣dinarily sold for 3 pound 5 shillings, or thereabouts: the same (being vntwi∣sted) doth not cōtaine aboue 4½ oun∣ces, or 5 ounces at the most of guil∣ded siluer, which may be worth some

25 shillings: and all the rest goeth to∣wards some very course silke and the workmanship, which is a very easie spinning. To say nothing of the Ea∣sterlings wares of pitch, tar, wainscot, cables, flaxe, hempe and such like, be∣cause these are very necessary com∣modities, and cannot be much ouer∣bought; we are onely to note, that if the Statute for the sowing of hempe were well obserued, all manner of cordage might be made within the Realme, and thereby be had better cheape of others. Howbeit the enter∣course and commerce with other na∣tions, requireth that euery countrey should haue their peculiar Commo∣dities; whereof we are to consider the price, and to haue a care not to o∣uer-buy them, and to sell our home Cōmodities too good cheape: which generally may be said for all commo∣dities, and particularly for Lawnes, Cambrickes and such like, and most

especially when claret wine was sold for 3 and 4 pound the tunne: prunes 5 shillings the hundreth: ciuill oyle 12 pound the tunne: soape of Ciuill 20 shillings the hundreth: malmesey 5 pound the But: and so the like of diuers other Commodities, if we do consider the great abundance thereof found now a dayes, and more com∣modiously and directly brought vnto vs, then heretofore; as Spices, Sugar, Currans, Raisins, Figs, and such like are. By all which commeth a notable ouer-ballancing of forreine Commo∣dities with our home Commodities in nature before alleaged, which doth cōsistin the price, & not in the quan∣tity. This ouerballancing is knowne by the increase of the custome of the goods inwards, & the decrease of the custome of the goods outwards: for which purpose let vs obserue, what the custome of wooll did amount in king Edward the third his time, as a∣foresaid.

Thus finding things to be deare, and the price thereof hurtfull to the Commonwealth, because we do not sell our home Commodities so deare proportionably, as we do buy the forraine commodities: we may see that we are become buyers & not sellers, as the good father of the familie ought to be, as is aforesaid. Wherfore let vs now consider of the causes of this dearth of forraine com∣modities ouer and aboue the price of our home cōmodities, which maketh vs to giue the treasure of the realm to boote, by aduancing the price of the one, and abating the price of the o∣ther: which might be attributed to the ignorance of permutation of commodities for commodities, if mo∣ney did not rule the price of commo∣dities; and the course of exchange for mony, did not ouer-rule the property of mony: wherfore let vs note the cau∣ses, which are declared in the treatise

of the Canker of Englands Common wealth: where we may see that our home Commodities are abated in price foure manner of wayes.

• 1 By scarsitie of money with vs, which maketh things good cheape.
• 2 By the gaine sought vpon mo∣ney, which otherwise would be sought vpon the commodities.
• 3 By a high course of exchange, which draweth the money to be de∣liuered in nature of exchange onely, or by a low price of exchange, which is the efficient cause of the exporta∣tion of our money.
• 4 By the rash sale of our Com∣modities by such as haue small stockes.

Forraine Commodities on the contrary are aduanced in price foure manner of wayes.

• 1 Through plenty of money in other countries, which maketh things

• deare.
• 2 By a high exchange beyond the seas, which yeeldeth a losse; and by a low exchange which causeth few takers vp of money, and driueth men to make returne in forraine Commo∣dities.
• 3 By the aduancing of the price of their money aboue the value.
• 4 For that the principall Com∣modities are engrossed into rich mens hands.

The course of this inequalitie may be illustrated by the comparison. Sup∣pose that you were a Lord of some I∣land, that did yeeld great store of corne or graine, and also great quan∣titie of wools: and another were Lord of another Iland, that did yeeld great abundance of spices, and sugar, and great quantitie of silke and silke wares, being things seruing either for the belly or backe. Both of you do desire to liue in the ciuillest manner

that you can deuise or imagine, and which is pleasing most your mind: and (wanting the vse of money) you are desirous to haue some of his spi∣ces, sugar and silkes; and willing to giue him by way of permutation or barter, corne, graine, or wooll for them: whereupon by mutuall confe∣rence according to reason, both of you do agree what quantitie of each Commoditie, one will deliuer for the Commodities of the other; and that chiefly in regard of the vse of euery mans Commoditie. But because ma∣ny questions do arise, and to auoide much cariage of wares vp and downe for the transporting from Iland to I∣land; you agree by mutuall consent, that a thing of mettall (because it go∣eth in least roome, and continueth longest without perishing, and is ca∣ried too and fro with the least charge, and is also fittest to be cut and deui∣ded in most peeces without losse)

shall be deuised to be coyned, as the meane in wares to exchange all wares by. And to the end there should be alwaies neither more nor lesse wares brought into your Iland, then were equiualent with the wares of your I∣land (and this thing you call Money, which is now a measure to set a price, or to measure euery thing by) it com∣meth to passe, that you haue more then sufficient for the inhabitants of your Iland of corne, wools, and other Commodities, which in this regard may be called Superfluities: and be∣cause some of them are perishable and cannot keepe long, you seeke to vtter and conuert into money: whereby you draw great store of money into your Iland. Wherupon some of your inhabitants (perceiuing the same to be the measure and meane to com∣maund and obtaine all other things) through a couetous desire do practise to be maisters of that measure: so that

no man can come by it, but with their consent, and paying well for it: and in so doing, they make the money to become a merchandise, and heape vp much wealth to themselues, & bring therby a dearth also of all things with∣in your Iland. For when one taketh a hundred pounds, to pay 10 pounds ouer and more then he borroweth, that man in vttering of his ware must sell accordingly: whereby the mea∣sure between you is become falsified. The lord of the other Iland perceiuing this breach doth dissemble the mat∣ter, & knowing that by these meanes he is bereaued of a great part of his readie money, and therewithall, that the Commodities which hee was wont to haue of you, are become dea∣rer; and that on the contrarie the price of his Cōmodities is abated through scarcitie of money: hee deuiseth a course to draw the mony out of your Iland, and to aduance the price of his

Commodities: you thereupon make a law, that no readie money shall be transported: but you are contented to admit an exchange for money on both sides, grounded vpon the waight and finenesse of his mony and yours, and according to the valuation to nominate the same; and thereby to make returne of each others Com∣modities, which exchange in nature of trade you suffer to rise and fall in price according to plentie and scarci∣tie of money. By meanes whereof, he hath an abilitie giuen him to com∣passe the rule of this exchange, and so doth abuse the same both waies, that he draweth all the readie money out of your Iland, and doth aduance the price of his Commodities, which he thereby selleth the dearer vnto you. You do also sell your Commodities dearer, but you do not make a pro∣portionable price vnto his, neither a due returne of the prouenue of your

Commodities. For if you make your returne by exchange of money by bils, he taketh an aduantage thereby in the price of exchange, by ouer-va∣luing his money, and vnder-valuing yours; or else you are driuen to make returne in his Commodities at a deare rate: whereby of necessitie he doth o∣uer-ballance your Ilands commodi∣ties with his, and doth of course ex∣pell your readie money to be giuen to boote with your Commodities. Where is now become that equiua∣lent proportion of wares for wares? or to what purpose serueth the measure of money, betweene you and him? do not the inhabitants of your Iland pay for all? And whence commeth al this? was not vsurie the beginning, and the merchandizing exchange the efficient cause of all? which being ta∣ken away, will make the effectes to cease: and what might be done ex conuerso, we leaue to the consideratiō

of the wise to determine what may stand with the course of politicke go∣uernment. And to their iudgement we will now propound three meanes for the aduancing of the price of our home Commodities by increase of trade, besides the operation of plentie of mony which maketh things deare: whereof we shall intreate more here∣after.

The first is, to giue an abilitie vnto Merchants to set ouer or transport their bils obligatorie or bonds, which they receiue vpon sale made of their Commodities for other Commodi∣ties. For whereas they sell most com∣monly all the forraine Commodities payable at some short time, if (hauing receiued billes or bonds for their wares) they might lawfully set them ouer for other Commodities, there would be greater quantities of our Commodities bought from time to time. To which end the statutes of

Champertie and maintenance might be qualified, and the billes might be made payable to the partie or the law∣full bearer or bringer thereof, as is v∣sed in other countries. But because the strictnesse of the Common lawe of the realme, doth require a greater perfection of formall deedes, then the Ciuill lawe of other countries, where plaine and sincere dealings haue hi∣therto excluded Non est factum: ther∣fore were it requisite to haue one ge∣nerall office for all notaries and scri∣ueners, as there is in other countries: where euery act, bill, or bond should be registred, not onely by the notarie or scriuen or that made the same, but also by a Prothonotarie, who should keepe register of all, and where euery thing should be enrolled vpon a pe∣naltie. A matter in reason as well be∣longing to the Chauncerie, as the re∣cording of the deedes of lands, Sta∣tutes, and Recognizances. This wold

greatly ease the most honourable Court of Starre-chamber of many sutes, which daily happen for forge∣ries and otherwise, and disburden also the Court of Common lawes of the like. And finally, many protractions in law would be abrogated, that now are vsed to the hurt both of the partie plaintife and defendant.

The second is, that the citie of Lon∣don, and euery principall towne of a shire, or the most part of them, would take vpon them, to take money casu∣ally at the hands of such, as will de∣liuer the same vpon the aduenture of their liues: as at Venice, where a man for the summe of foure or fiue hun∣dred pounds once giuen, shall be sure to haue a hundred pound a yeare du∣ring his life: whereby a great stocke might be raised for the generall good of all parties, and especially to set poore people on worke, and (by in∣corporating their manufacture and

handiworke) to sell the same after∣wards with a reasonable gain towards their aduenture. Besides that, experi∣ence hath taught in all places where the like is vsed, that the citie becom∣meth alwaies a gainer by the decease of the parties, that do deliuer money in this nature.

The third meane to aduaunce the price of our home Commodities, is (as before hath bene noted) the ex∣ample of great personages in the wea∣ring of our Commodities, whom the people will imitate: and so the more vsed, the more aduaunced by the re∣quest thereof: wherein the example of the Prince is predominant. But lea∣uing the matter of Commodities, let vs come to intreate of monies.

Money (as we haue said before) being the rule and square to set a price vnto euery thing, as being the pub∣like measure to maintaine a certaine equalitie in buying and selling; must

therefore haue his standing valuation onely by publike authoritie of Prin∣ces, as a matter annexed to their Crownes and dignities. For they be the warrant of the monies vnto their subiects. And to the end that this mea∣sure of things, namely money, should not be falsified, by making the same generally more or lesse (whereby the price of things would become incer∣taine, if priuate men be suffered to haue the handling thereof) therefore are Princes so carefull to obserue a certaintie and equalitie of the price of money from time to time. How∣beit, that the due regard which is to be had betweene their monies, and the monies of other Princes, is by some lesse regarded, then the course thereof within their owne dominions being of lesse importance, hauing some base money currant with the good. The price of money becom∣meth incertaine in particular, when

priuate men will giue or receiue any money in specie aboue the price of their valuation imposed by the autho∣ritie of the Prince: whereby euery man vndertaketh to aduaunce still the price according as he seeth occa∣sion to aduance his gaine by the nece∣ssitie or vse of another man, that hath cause to employ the money. The vse hereof is in many countries seuerely prohibited, and yet another way in a manner suffered for the good of their Commonweales, as those that are skilfull in mint matters, do very well know.

The price of mony in generall be∣commeth incertaine, when vsury is tollerated, whereby one hundreth pounds are esteemed and valued (in regard of time) to be worth one hun∣dreth and ten pounds, and in some o∣ther countries more: which was the cause that commodities were sold ac∣cordingly, when dayes were first gi∣uen

for the payment thereof, euery man supposing that he could make so much of his money which did pro∣ceede of his commodities.

This course being tollerated by the lawes of the land, maketh vs to forbeare, to speake hereof sparingly, because Pollicy doth thinke that ther∣by greater euils are auoided, which (being compared to the operations and effects of vsury written allegori∣cally by me in another treatise) may be ballanced in the iudgement of the wise. Onely to the end that (through ignorance) merchants and others might not fall within the compasse of the Statute of vsury, we haue thought good to giue them this Caueat, and to make them to vnderstand the true sence and definition of the branch of tolleration of that Statute: the ra∣ther for that some men do seeme to charge the makers thereof with a great absurdity. For say they, the Sta∣tute

giueth ability for a man to take one way ten pounds ten shillings or more for the vse of one hundreth pounds for one yeare, being deliue∣red out for two yeares: and another way he cannot take ten pounds fiue shillings and lesse for one yeare, but he shall be within the compasse of the Statute. But if they had a due con∣sideration, that Time is properly the Iudge hereof, and that they could not make the Statute without the limita∣tion of a time certaine: they would not find any absurdity therein. For it was impossible to make it otherwise more certaine. The words of the Statute be in effect: None may haue, receiue, accept or take for the lending or forbearing of his or their money for one whole yeare, or for a longer or a shor∣ter time, or for a more or lesse summe a∣boue the rate of 10 pound pro 100 yearely. 37. H. 8. And this Statute to be most strongly & strictly cōstrued for the

suppression of all vsury, both directly and indirectly, as by the Statute of the 13. of her most excellent Maiestie.

To make it euidently appeare, that of necessity (Time) is herein Efficient and Actiue, and the rate of 10 pro 100 Positiue and Passiue. Let vs suppose that you do deliuer at interest one hundreth pounds for three moneths after ten vpon the hundreth, you may lawfully receiue at the three moneths end two pounds ten shillings for your interest, and continue the hun∣dreth pounds againe for other three moneths, by a new contract or agree∣ment: and then receiue againe two pounds ten shillings, continuing in this manner for the whole yeare by foure seuerall agreements: whereby you do receiue three parts of your in∣terest at seuerall times within the yeare: which interest you may put out also to vsury, and so take aboue 10 pro 100 without incurring the

danger of the Satute, because your a∣greements haue from time to time al∣tered the property of the interest mo∣ney which you did receiue, and that which before was anothers, is there∣by become yours, and thereof you may lawfully dispose againe. But if you do deliuer out 100 pounds from the beginning for one whole yeare, then you can haue but 10 pounds in∣terest for the same at the yeares end with your principall: for the proper∣ty of the 10 pounds is not till then altered by your agreement. Thus is it with money deliuered for a shorter time.

In like manner is it for money de∣liuered out for a longer time, as for example. One deliuereth out an 100 pound for foure yeares, for the which at the foure yeares end, he can receiue but 140 pound: but if he do deliuer out 100 pounds for one yeare, he may at the yeares end receiue 10 pounds

for interest, and continue the 100 pounds againe for the second yeare by a new agreement: and then receiue another 10 pound: and so for the third and fourth yeare. Now whereas by reason of his seuerall agreements according to the time he hath altered the property of the interest mony and receiued 10 pounds the first yeare, he may put out againe this 10 pound as his owne for another yeare, and so haue interest thereof twenty shillings: whereby he receiueth 11 pound the second yeare, which being put out for the third and fourth yeare, will yeeld him accordingly: in like maner for the 10 pound receiued the second and third yeare which will yeeld him after the same maner accordingly. So that he shall haue aboue 146 pound being thus deliuered out, the body of his sum still remaining whole, and be∣ing only distinguished by time which maketh the difference. Againe let vs

suppose, that the 100 pound were de∣liuered out from the beginning for foure years, to be repaied by 25 pound a yeare and the interest: it followeth proportionably that the first yeare he is to receiue 27 pound 10 shillings, the second yeare 30 pound, the third yeare 32 pound 10 shillings, and the fourth yeare 35 pound, which maketh all but 125 pound: adde vnto this the interest of 25 pound receiued, in deduction of his principal three yeares before the time, which is 7 pound 10 shillings, and of 25 pound more in like manner for 2 yeares which is 5 pound, and of 25 pound more for one yeare, which is 2 pound 10 shillings; all 15 pound: which together maketh the 140 poūd, as aforesayd. But when monies are re∣payed in this maner, as it were by way of anticipatiō, then the body of your summe of 100 pound is deuided: and still time and vse or interest must con∣curre. For you may not deliuer out

300 pound for 3 yeares to be repayed by 100 pound yearly, and receiue the first yeare 130 pound, the second yeare 120 pound, and the third yeare 110 pound: but you must receiue the first yeare but 110 pound, the second yeare 120 pound, and the third yeare 130 poūd, because you haue not forborne your mony for any longer time pro∣portionably, according to your con∣tract and agreement. And the property of the interest money is not altered ef∣fectually according to the law: for 10 pro 100 for one yeare is the Cubicke roote which doth increase & decrease both wayes proportionably. Yet some will say: Suppose that I haue 3000 pound in mony to deliuer at interest, are not my 3000 pounds worth 300 pounds at the years end? and may not I lawfully receiue that 300 pounds, & any part of my principall, & continue the rest for one other yeare, and so do the like for more yeares? Who doub∣teth

thereof? So that you do make new contracts or agreements from yeare to yeare, wherby the property of the interest money becommeth effe∣ctually altered according to the law (as aforesaid) your mony from the be∣ginning being deliuered out but for 1 yeare. But if you do deliuer your 3000 pound from the beginning by one sole contract or agreement for sixe yeares, to be repayed yearely, and re∣ceiue 550 pounds the first yeare, that is to say, 300 pound for your interest and 250 pound for part of your prin∣cipall: then do you incurre the dan∣ger of the Statute. For in this which is for a more summe and a longer time: there is the like reason, as there is with a lesse summe and and a shor∣ter time, as by the former example of 100 pound is declared. And as there is more gaine, when money is deliue∣red out for three moneths or lesse time, and so continued from time to

time within the yeare, then when mony is deliuered out for one yeare: so is there more gaine when money is deliuered out for one yeare, and continued by new agreements from yeare to yeare; then when it is originally deliuered out for 6 or more yeares, agreeing with the rule of Geo∣metriall delineation, and Arithmeticall proportion. Wherefore he that should say, what reason haue I, to put out my money for one yeare, and to haue but 10 pro 100: when I may put out the same for three moneths, or a shorter time, and take aboue 10 pro 100? spea∣keth vnaduisedly: for he must do it according to occasion. Reason also requireth, that there should be diffe∣rence betweene mony deliuered out for one yeare, and money deliuered out for more yeares according to the Statute For he that receiueth his inte∣rest in this manner, as aforesaid, hath an ability giuen him to put out that

interest money to vse also vnto ano∣ther: whereby he hath interest vpon interest, though not of the same par∣ty, and therefore in equity is not to take it of two parties. So that euery man must take heed not to put out money for a longer time, and for seuerall yeares, and to reckon interest thereof as if he had (from the begin∣ning) deliuered out his money but for one yeare: and so continued from yeare to yeare, reckoning interest v∣pon interest, as many do through a couetous desire in daunger of the branch of this Statute, which must and may be most strongly and strict∣ly construed against them, both di∣rectly and indirectly, as aforesayd. But to speake properly and effectually concerning vsury: let vs not only dis∣pute de lana Caprina, but seeke to qualifie the extreame dealings of those that do feede vpon the sweate and labour of the poore, by taking

(and that vpon pawne, whereby ma∣ny times their meanes of liuing are hindred) twelue pence for the len∣ding of 20 shillings for one moneth, which is aboue 60 pro 100: nay whē the meere poore are glad to pay one peny for the vse of twelue pence for a weeke, which is aboue 400 pro 100 by the yeare: a most pernicious and damnable dealing, not to be suf∣fered amongst Christians. For the re∣formation whereof, if there were in some places the vse of a Lombard, where they might find reliefe after 10 pro 100, especially in the city of London: it would proue a matter very necessary and cōmendable, whereas now the poore artificer doth ordina∣rily pay (besides this horrible interest) vnder the colour of brokerige or bill money aboue 20 vpon the hundreth: which in small summes, and that of∣ten borowed, is not perceiued to a∣mount to this biting vsury. And to

this effect, would such money very commodiously be employed, as ca∣sually would be deliuered by Gentle∣men and others that would purchase an annuitie during their life, as before hath bene touched. Thus much con∣cerning vsury, which altereth the cer∣tainty of the price of money in effect. Now let vs intreate of the very sub∣stance of the moneys consisting of matter and forme. Of matter as in re∣gard of substance, we know that Prin∣ces haue their seuerall Standards both for gold and siluer, which by some are allayed with more copper (com∣monly called Allay) then with others: whereas the onely cause that moneys are counterfeited and falsified com∣meth by the commixture of the three mettals, gold, siluer, and copper. And omitting to speake of many particular Standards of Princes, hauing handled that matter heretofore: let vs note the opinion of Maister Bodine, who

to cut off all counterfeiters, clippers, washers, cullers and falsifiers of mo∣nies; would haue the mony so made, that euery simple man should be able to know it. Concerning the propor∣tion betweene the gold and siluer, it ought to be, as it is (by his saying) in all countries 12 to 1, whereunto he would haue made the waight, fine∣nesse and valuation answerable. As for example touching finenesse, if we made the monies of gold to be 23 carrats, then the Standard for the sil∣uer (after two carrats of gold for an ounce of siluer) should be 11 ounces ½ fine; and the peece of siluer (weigh∣ing an equall waight with the gold) should be valued to be worth the twelft part, or the gold 12 times the value of siluer, as if a French crowne (waighing as much as the Ryall of Spaine) were valued at sixe shillings the Riall being sixe pence. And the third sort of monies, namely, small

monies he wold haue made of meere copper, although (saith he) it were better (if it were possible and com∣modious) to haue no other money, then of gold and siluer which neuer rusteth as copper doth: the price of copper being also incertaine and dif∣fering in many countries. During the Punicke warres, one pound of siluer was worth 840 pound of copper: af∣terwards through the abundance of siluer it came to 224 pound of copper for 1 pound of siluer: & so is it taken diuersly in diuers coūtries, according to the plenty of the one or other met∣tall vpon all occasions. The like shall we find touching the proportion be∣tweene the gold and siluer, which with vs in England hath continued for many yeares, 11 of fine siluer to one of fine gold, or 11 of Standard sil∣uer to 1 of crowne gold, which of late yeares was takē according to our An∣gell and Crowne gold, supposing

that other nations did hold these proportions following.

The Low-countries where they reckon two Philip Dollors for their golden Royall or our Angell made 11 to 1; if the tolleration had not alte∣red the valuation of their monies in effect; the Royall being valued at 16 shillings 8 pence Flemish, and the Dollor 50 stiuers.

The Pistolet of Spaine of 22 Cari∣ats to 11 Ryals of plate made 11 to 1, now but 10 ¾: but the ouer-valuation maketh greater difference.

The French crowne to three Frankes is 11 to 1, when the crowne was at 60 sols, which is now currant for 64 and 65 sols: besides that at that time gold was by valuation at 74 crownes the Marke of 8 ounces, and siluer 6 crownes ⅓, which is 11 13/19 for one.

In Germany one Marke of siluer at 8 ½ Florins D'or is 11 ⅔ for one.

At Rome 108 Carlins for 1 pound of siluer and 99 ¼ Duckats, the gold is 12 to 1. But by valuation or tolleration being altered in all places, they hold all either 12 to 1 or more: besides that in most places their waight is inferior or lesse then ours. King Darius did taxe 13 of siluer for one of gold: and Plato maketh mention of 12 to 1. But if we will haue a due consideration of the great quantity of siluer which commeth from the West Indies year∣ly, & proportionably the small quan∣tity of gold, & that for guilding gold is more vsed then siluer: we should by all meanes aduance the price there∣of, rather then to abate it. And where∣as some men naturally inclined to correct Magnificat, seeme to find fault with our former writing for say∣ing by way of interrogation, that if a man should receiue beyond the seas for our gold after 12 for 1, we holding but 11 for 1 in proportion, who seeth

not an euident gaine of 1 in 11, if the siluer monies do not counteruaile the same by way of tolleration, being re∣ceiued far aboue their value beyond the seas: we cannot omit to answer them, to the end they may vnderstād the truth. Imagine (say they) I haue an ounce of gold here, which cost me 11 ounces of siluer. Now if I do trans∣port this ounce beyond the seas: there they will giue me 12 ounces of siluer in money for it. But if I do bring ouer againe that money, here I shall haue but 11 ounces for it, because there is no more siluer in substance in it: for the valuation thereof is made farre a∣boue the value or é conuerso, if I bring ouer 12 ounces of their siluer monies, I shall haue but 1 ounce of gold for it, or 11 ounces of our siluer, ergo, there is no gaine. These arguments are grounded by surmise, and drawne of necessity, as if we must needs make an exchange of gold for siluer, or siluer

for gold, whereas it falleth out thus.

One bringeth certaine Commo∣dities from beyond the seas into the realme for to be vented; and after sale made, he doth consider how to make returne with his most aduauntage: which he must either do by making employment vpon the Commodities of the land, which do yeeld him so li∣tle gaine beyond the seas (being sold generally too good cheape) as he will buy none: and then either he must ca∣rie away the monie in specie, or deliuer the same here by exchaunge vnto o∣thers, to be repayed beyond the seas. Now if the price of exchange be low, and will yeeld him not so much gaine as the money will do, being caried in specie, their money must be transpor∣ted; for the scope of merchants is Gaine. Whereupon he doth consi∣der, that gold is more portable and better to be conueyed, especially be∣ing beyond the seas taken by valuati∣on

to hold in proportion to the siluer 12 to 1: which he enioyeth in the payment of the gold, and not in re∣ceiuing again siluer for it: but in buy∣ing more Cōmodities to be brought vnto vs, exchaunging in effect from time to time their Commodities for our gold, as also for our siluer. A mat∣ter, that the officers of the mint ought to looke into: for they know how to preuent it, as we haue set downe in the Treatise of Exchanges.

Touching those that would haue the transportation of money to bee made fellonie by the lawe, as it was heretofore, thereby to hinder the ex∣portation; they are not well aduised, considering that such Statute lawes are neglected, and that Informers do not regard to sue for the life of men, but well for their goods vpon such penall Statutes, if the money it selfe (hauing so great a command) cannot make way when it wil depart, (a gaine

being offered) which draweth more forcibly then the Adamant stone.

To describe the course of the sea of monies (which like an Ocean de∣uideth her branches in all countries) were very difficult: but we may well obserue, that the greatest part of the siluer which commeth from the West Indies, is transported into the East In∣dies; where diuerse nations now traf∣ficking for spices, cause the price ther∣of to rise in those countries: who buy∣ing deare, must sell accordingly, or else proue to be small gainers, as the sequell of that trade will manifest. Gold is chiefly exhausted in all coun∣tries by the trade of silkes, which cau∣sed the Frenchmen to prohibite the bringing in of any into France, where diuers stuffes of silke, as veluets, satin, grograines, and such like are made by the inhabitants.

Touching the forme of monies, whereunder wee comprehend the

stampe or figure: let me commend vnto you the auncient making of mo∣nies by mils or engines. When gold and siluer began much to abound a∣mongst the Greekes, Latines, Persians, and Egyptians, the vse whereof did cease, vpon the declining of their go∣uernments: when gold and siluer be∣came so scarce, that monies were made so thin, that with the hammer they were stamped or coyned. Great are the Commodities that would a∣rise thereby to the Commonwealth, besides the charges which Princes may saue, and the facilitie and expedi∣tion in the making exactly of greater quantities of money, fairer and roun∣der, more certaine in waight, and without cracke or flaw, and the stamp or figure of longer continuance; then that which is made with the hammer with a greater noise. By the roundnes and fairenesse is clipping preuented, which in peeces proportionate, and

of a faire impression is easily discer∣ned. By the certaintie in waight, when peeces of one sort shall waigh one as much as the other, are Cullers cut off, which are vsed to cull out the heauie ones for their vse of melting or transportation, and to pay out the light ones especially in siluer. Coun∣terfeiters, washers and falsifiers of mo∣ney, will be sooner detected, and the false money knowne, when peeces of one sort, shall be of one bignesse and thicknesse, and of one sound and fair∣nesse of stampe, with their priuate marke for the time: the thicknesse will be seen, the waight will be found, and the sound will be heard by com∣paring one peece to another, especi∣ally when the rednesse or colour of the money doth giue suspition that the same is counterfeited. For there is great difference in the lumpe of met∣tals of equall waight, as we may part∣ly perceiue, and is exactly found by

the last triall made thereof. The masse or lumpe of gold to the lumpe of sil∣uer, doth differ as much as 9 to 5, that the bodie of siluer is bigger then that of gold, which is 1 ⅘. Betweene cop∣per and siluer, is as much difference, as betweene 11 and 13. Lead to siluer, as from 15 to 14: but that will not ioyne with any other mettall then tinne, which is lighter then siluer, and doth differ from it as 9 to 13: and from the gold, as 7 to 18. Iron doth differ from siluer, as 4 to 3: and from the gold as 6 to 9, that the bodie of gold is lesser. Quicksiluer which is vo∣latile, commeth nearer vnto gold, and doth differ as 3 to 4, the fixing wher∣of is difficult.

Touching the scisell which com∣meth by the making of monies by mils or engines, it is soone made and conuerted into monies, and may be lessened by good casting of the met∣tall into plates proportionate, which

by degrees may be reformed, accor∣ding to the increase of the quantitie of gold and siluer. To which end it will not be amisse to exhort and re∣quire all Goldsmiths and others, to be vigilant and diligent in bringing of bulliō into her Maiesties mint, where they may haue very speedie and assu∣red payment thereof at all appointed times. And in this place we must not forget, that care may be had, that the Moniers (which worke by the ham∣mer) may be prouided for their li∣ning, or be set on worke by the milles or engines.

Lastly, it were very conuenient & commodious, as also good for the poore to make small monies of cop∣per, as halfepence and farthings, which might be called Pledges of the poore, and would increase charitie to∣wards them. Whereby also all leaden tokens (vsed in Tauernes, and by such as sell small wares) would bee taken

away; and would be very commodi∣ous in so populous a kingdome, being made exactly to preuent counterfei∣ting: which generally we do hold so difficult to be done, as is the counter∣feiting of the hand of an excellent writer, amongst the ordinarie wri∣tings of most men. And the making thereof can breede no inconuenience in the Commonwealth in the prices of Commodities, wheras some Prin∣ces do vse to coyne some monies for to remain within their dominions, & some other kind of monies for to be transported into other countries, rea∣ping a great gaine by the coynage thereof. And omitting to shew the important causes and reasons which Princes haue, to maintaine a standing treasure: we do not hold it impertinēt to reduce to memorie, that which is recorded of the treasure of Princes in times past to awaken care in others.

The greatest meane that the Ro∣maines

had to saue their state, when Hanniball had almost brought them to ruine, was 450 thousand crownes that the treasure did amount vnto, which was gathered by the redemp∣tion of slaues, and neuer touched vn∣till that time. Pope Iohn the 22. left 23 millions of gold: Sardanapalus, 40 millions of crownes: Cirus, 50 milli∣ons: the Athenians, 60 millions: Ti∣berius the Emperour, 67 millions: A∣lexander the Great found in the trea∣surie of Darius Occhus the Persian king, 80 millions. But the greatest treasure mentioned in the Scripture, which king Dauid left, was 120 milli∣ons, which did exceede farre the trea∣sure recorded of the Romaines, when they flourished most vnder Traian the Emperour: which is 74 thousand talents, being 44 millions 400 thou∣sand crownes. To say nothing of the siluer and gold found vpon the disco∣uerie of the West Indies, and the ran∣somes

which were collected, when Atabalippa king of Peru gaue onely for his raunsome ten millions 326 thousand duckets. Let vs consider what great treasures Princes might haue now adaies, when money doth abound: whereas it is reported, that king Henry the 7 of England, left in bullion after his decease, 53 hundred thousand pounds starling in those daies, when an ounce of siluer was va∣lued but 40 pence. And so cōcluding for monies, let vs come to the mat∣ter of exchaunge, which is the third and last meane, whereunder the trade is performed. But because my Trea∣tise of The Canker of Englands Cō∣monwealth doth handle that matter particularly, therefore shall it suffice to make mention onely of the Con∣tents thereof. As money doth rule the course of Commodities: so the ex∣chaunge for monies with vs doth not onely rule both the course of money

and Commodities; but (being abu∣sed by the merchandizing thereof) is become predominant, and doth o∣uer-rule the course of them both to Englands great and incredible losse: whereas the right exchange is most commendable, necessarie and conue∣nient for the maintenance and traf∣fick of entercourse betwixt merchant and merchant, or countrie and coun∣tries, beeing grounded vpon the waight, finenesse and valuation of the money of each countrie according to value for value, which accordingly should be kept at a certaintie, as a mea∣sure betwixt vs and other nations. For we haue amply declared and proued, that when the exchange doth fall or rise in price, the same being either high or low; it turneth euery way to the losse of the Realme, both for the price of our home Commodities, and the transportation of our monies, and by aduancing the price of forraine

Commodities, causing an ouer-bal∣lancing in nature before alleaged: which to supply, draweth or expelleth our treasure. For we doe (in effect) giue the same to boote vnto other na∣tions with our home Commodities, to haue their Commodities for it.

Some men of iudgement haue found my writing to be inuectiue and patheticall against Bankers, wherein they are not mistaken. For the vse of Bankes is incompatible in any well or∣dered Commonwealth, as time will manifest more and more daily. The French kings, Lewis the 9, and Philip the Faire, did with great cause confis∣cate the Bankers goods: and for the discouerie of their debts, ordered their subiects to pay onely the princi∣pall money vnto their Treasurers. Phi∣lip de Valois did the like, and indited them as couseners of the Common∣wealth. For it was found, that in a short time with 24 thousand pounds

starling, they had accumulated and gotten aboue 2 millions 400 thou∣sand pounds.

Others which (through enuie, ma∣lice, or other passions, haue the eyes of their iudgment blinded) haue cen∣sured my writing to be Apologeti∣call for the erection of a Banke vn∣der the colour of the restauration of the office of the auncient Kings Ex∣changer: which, how absurd it is, let the wise iudge by the difference be∣tweene a Banker, and a generall Ex∣changer. The Banker doth draw vnto himselfe all the monies of other men, making his small stocke to be infinite: and the Exchanger must with his owne stocke supply other mens occa∣sions; for no man is commaunded, or by Pollicie (of course) compelled to deliuer money vnto him. The Ban∣ker doth make the price of exchanges with the correspondencie of others Bankes elsewhere, at his pleasure or

most aduantage: the Exchanger can haue no correspondencie with other Bankes; for he is limited how to deale at a certaintie in price by exchange, and therefore must haue his factors or seruants at his owne charges in the places of trafficke. But because it is difficult to please mens humors in the reformation of abuses, which either for gaine some would haue to conti∣nue, or others through ignorance do not vnderstand; therefore is there a∣nother meane propounded, to keepe a due course in matter of exchange without an Exchanger: By a Proscrip∣tion in a paire of tables to all sworne Brokers, how to make the price of exchanges for all places according to value for value. Which wold be easie and in effect aequum & bonum (as we haue declared) so as a due regard be had of the circumstances of things; noting alwaies this coherence, that e∣uen as plentie of money maketh with

vs a low exchange, and the low price of exchange is the efficient cause of the transportation of our monies: that so by procuring plentie of money, we do not procure therewithall the cause of exportation, and hunt (as it were) after our owne shadow.

Some others haue thought this matter to be in a manner incurable, or impossible to be effected now adaies, considering the great trade; when (to speake truly) the trade of our Com∣modities is much decayed and: with∣out that they can yeeld or giue any probable reason thereof, but that the difficulties and sicknesse of the Com∣monwealth cannot admit it, as who should say: It is better to let a sicke bo∣die languish to death, then to make him drinke an vnsauorie potion to re∣store him to health. For mine owne part, I haue thought it my dutie in re∣gard of profession, to publish and pre∣ferre sincerely (according to my small

talent) any thing which may make for the good of the Commonwealth▪ especially it being agreeable with the most noble and auncient lawes of the Realme: wishing that other men in∣dued with more learning, and ador∣ned with excellent vertues, would be alwaies carefull to do the like in that which concerneth their profession. And hereunto I haue bene the more encouraged, for that since the pub∣lishing of my Treatise aforesaid, and by meanes of my priuate aduice vnto diuers, (without boasting or arrogan∣cie be it spoken) there hath bene a better course taken, by obseruing the nature of exchanges; whereby great store of siluer bullion and some gold, hath bene brought into the Realme for the generall benefite and good of the bringers thereof: which doth put me in hope, that the like vigilancie and regard will be had by diuers, in the sale of our home Commodities,

and the buying of forraine Com∣modities beyond the seas, with a due inspection to equitie and iustice in the course of trafficke: which re∣commendeth vnto vs Prouidence, and doth not altogether exclude Pollicie, especially in respect of the gouernment of a State or kingdome, in studying the way of preseruation and augmentation of the wealth thereof; which cannot properly be done, but by these meanes. For the same cannot decrease, but by the transportation of our money and treasure, and by selling our home Commodities too good cheape, and paying too deare for the forraine Commodities, as we haue noted before. To which end we are to cōpare the prices of things betwixt vs and other nations with whom we deale: and not to shew the causes of the dearth of things with Maister Bodine, by examining the pri∣ces

thereof within the Common∣wealth where we do liue, without making any application thereof for the generall good of the realm: for the conseruation wher∣of, prayers and meanes are requisite at all times.