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

Englands view.

A SENTENCE allea∣ged without applica∣tion to some purpose, is to handle a matter without conclusion: and he that will attribute vnto any man the knowledge of the essentiall parts, grounds, or pillars of any sci∣ence, must make apparant proof ther∣of: otherwise, his assertion is like cloudes and winds without raine, or like an arrow shot at randon. Quòd o∣portet patrem-familias vendacem esse, non emacem, is a worthie sentence to be duly executed of al good houshol∣ders, or fathers of families, especially of Princes, that are the fathers of the great families of Common-weales:

who (as Iustinian saith) are to prouide carefully for the two seasons, namely, the time of warre when armes are ne∣cessarie, and the time of peace more fitting wholesome lawes: in both which, it cannot properly be said, that the office of a Prince is wholy em∣ployed about the gouernment of the persons of men, and of things conue∣nient and fit for the maintenance of humane societie, according to the de∣finition of the heathens: but rather in the obseruation of Religion towards God, and administration of Iustice to∣wards man: the one teaching vs espe∣cially of the life to come; & the other, how we should liue in this life. Reli∣gion doth knit and vnite the spirits of men, wherby they liue obediently in vnitie, peace, and concord: and Iu∣stice is as a measure ordained by God amongst men, to defend the feeble from the mightie. Hence proceedeth, that the causes of seditions and ciuill

warres, is the deniall of iustice, op∣pression of the common-people, ine∣quall distribution of rewards and pu∣nishments, the exceeding riches of a small number, the extreame pouertie of many, the ouer-great idlenesse of the subiect, and the not punishing of offenders: which bringeth destructiō of Common-weales.

Religion doth teach the feare of God, which maketh a good man, and is indeed the beginning of a Prince. For sith Princes raigne by wisedome, and that the feare of God is the be∣ginning thereof: we must conclude, that it is the beginning also of a vertu∣ous and wise Prince. Now, as Princes raigne by God, so must they be dire∣cted by him: yea they raigne best and longest, that serue him best and most. Serue him they cannot but according to his will; and his will is not known, but by his word and lawe: which made the Prophet Dauid to meditate

therein day and night, preferring the cause of faith or religion before tem∣porall commoditie. And this is pro∣perly the first and chiefest point, that the Prince is to regard: whereunto the other is annexed and doth depend vpon. For as iustice is administred and prescribed by lawes and customs: so reason requireth, that this grada∣tion should be obserued concerning all lawes: that euen as the wils, con∣tracts or testaments of particular men cannot derogate the ordinances of the Magistrates, and the order of the Magistrates cannot abolish customs, nor the customes can abridge the generall lawes of an absolute Prince: no more can the lawes of Princes alter or chaunge the lawe of God and Na∣ture.

By iustice (properly called Distribu∣tiue) is the harmonie of the members of a Common-weale maintained in good concord: howbeit, much hin∣dred,

where vsurie is tollerated, which giueth cause of discord; some few waxing thereby too rich, and many extreame poore: the operations of ef∣fects whereof, are declared by me vn∣der certaine Similies or Metaphors in the Treatise of Saint George for En∣gland.

By iustice (properly called Com∣mutatiue) is the cōmerce and trafficke with other nations maintained, ob∣seruing a kind of equalitie, which is requisite in euery well gouerned Cō∣mon-wealth, where prouidence and pollicie cause the Prince (the Father of the great familie) to sell more then he buyeth, or else the wealth and trea∣sure of his realme doth decrease, and it were his expences do become grea∣ter, or surmount his incomes and reuenues. This kind of equalitie is in∣terrupted and ouerthrowne by the merchandizing exchange, as in the Treatise of The Canker of Englands

Common-wealth is declared. For as all the trade and trafficke betweene vs and other nations, is performed by three simples: namely, Commodi∣ties, Money, and Exchange: so (as we haue proued) is the course of ex∣chaunge (being abused) become pre∣dominant and ouerruling the course of money and Commodities; where∣by the wealth of the Realme doth de∣crease.

And this wealth cannot properly increase but two manner of wayes: namely, by bringing of money and bullion into the Realme, or any other things which are not bought for our money, or bartered by way of per∣mutation for our Commodities: and by buying the forraine Commodi∣ties better cheape then we sell our home Commodities. And so may the father of the great familie become a seller and not a buyer, as is before al∣leaged.

We haue hertofore noted the pro∣pertie of money to be: That plentie of mony maketh generally things deare; and scarcitie of money maketh like∣wise generally things good cheape: whereas things are also particularly deare or good cheape, according to the plentie or scarcitie of the things themselues, or the vse of them. Accor∣ding to which plentie or scarcitie of money aforesaid, things generally be∣came deare or cheape: whereunto the great store or abundance of mony and bullion, which of late yeares is come from the West Indies into Eu∣rope, hath made euery thing dearer, according to the increase of money: which like vnto an Ocean, deuiding her course into seuerall braunches in diuerse countries, hath caused a great alteration and enhancing of the price of euery thing: and most especially, because the money it selfe was altered in valuation in most countries. So that

the measure being altered and made lesser by denomination, there went more number to make vp the tale, and of necessitie other things went and were named accordingly in price. For money must alwayes remaine to be the rule and square to set a price vnto euery thing, and is therefore called Publica mensura, the publike measure: whereby the price of all things is set to maintaine a certaine equalitie in buying and selling, to the end that all things may equally passe by trade from one man to another.

This money must haue his stan∣ding valuation onely by publike au∣thoritie of the Prince: to whom pro∣perly belongeth the disposing there∣of, as a matter annexed to his Crown and dignitie. And as the money doth set a price to the naturall riches of lands: so doth it also set a price to the artificiall riches proceeding of the lands. And therfore reason requireth

a certaine equalitie betweene the na∣turall riches and the artificiall riches.

That plentie of money maketh things deare, is found by daily expe∣rience: whether it be in bullion of gold and siluer, or the same conuerted into mony. But so long as it is in bul∣lion, it remaineth in nature of Com∣moditie, which is giuen by way of permutation or barter in exchange for other Commodities. Plentie or scar∣citie of Commodities doth also alter the price of the things wanting or a∣bounding according to the vse there∣of, which is grounded vpon estima∣tion by consent, after the pleasure and sensualitie of man.

The Historie of the West Indies maketh mention, that during the great quantitie or abundance of gold and siluer that was found about four∣score yeares past, and the rarenesse of other things, a cloake of cloth was sold in Peru for a thousand duckets,

a paire of breeches of cloth for three hundred duckets, a good horse foure or fiue thousand duckets: and other things then in vse and rare according∣ly. The Romaines after the conquest of the Persians, brought such abun∣dance of gold and siluer to Rome, that the price of lands did rise aboue two thirds.

And on the contrarie, concerning scarcitie of money, Grafton in his Chronicle of England hath recorded, that king Edward the third hauing great warres with Fraunce and Scot∣land, and incorporating the money into his handes for the maintenance thereof, caused through the lacke of money the price of Commodities so to fall, that a quarter of wheat was sold for two shillings, a fat oxe for a noble, a sheepe for sixe pence, and other things after the rate.

The consideration of the premises, maketh the two Paradoxes of Maister

Malestroit (one of the Officers of the French kings Exchequer) to be most Paradoxicall, that is to say, farre diffe∣ring from the vulgar opinion: which Paradoxes (vpon complaint of the people of the dearth of things in Fraunce) he presented vnto the king, thereby to qualifie the cause of their complaint. The substance whereof I haue thought most expedient to set downe, and the aunswer also which Maister Iohn Bodine the greatest Poli∣titian or Common-wealths man of Fraunce, hath made thereunto: toge∣ther with my explication thereof, and Replication to his answer; whereby the truth wil appeare, and how things are to be considered of for the good of the Common-weale.

The first Paradox.

To complaine of the generall dearth of al things in Fraunce is without cause,

seeing that there is nothing growne dearer these three hundred yeares.

The second Paradox.

There is much to be lost vpon a Crowne, or any other mony of gold and siluer, albeit one do giue the same in pay∣ment at the price he did receiue the same.

Since that the auncient Permuta∣tion (saith he) hath bene chaunged in buying and selling, and that the first riches of men (which did consist of cattel) was transferred to the gold and siluer; whereby all things haue recei∣ued their estimation, and haue bene praised and sold for: it followeth, that those mettals are the right iudges of the good cheap or dearth of al things▪

We cannot say, that any thing is now dearer, then it was three hun∣dred yeares ago, vnlesse that for the buying thereof we must now giue more gold or siluer, then we did then▪

But for the buying of al things, we do not giue now more gold or siluer, then we did then, saith he. Therefore, since that time nothing is growne dearer in Fraunce.

To proue this he doth alleadge, that during the raigne of king Philip de Valois in the yere 1328. the French Crowne of the Flower-de-luce, as good in waight and finenesse, as the French Crowne of the Sunne now; was then worth but twentie sols tour∣nois: which (for the better vnderstan∣ding) being valued according to the common computation of ten sols for a shilling starling, is two shillings. In those dayes (saith he) the French elle or yard of veluet was woorth foure li∣uers, which is foure crowns or 8 shil∣lings starling: the said yard of veluet doth now cost ten liuers, or twentie shillings: and the French crowne, which was then valued at two shil∣lings, is now valued at fiftie sols or fiue

shillings. So that foure crownes do make the said 20 shillings; yet the said french crownes do containe no more in gold, in weight, or in finenesse then before: wherby there is no more gold giuen in substance then heretofore, and consequently the veluet is not now dearer then it was then.

During the raigne of king Iohn his successor, in the yeare 1350, the price of a measure of wine (being indiffe∣rently taken) was at 4 liuers or 8 shil∣lings starling. And in his time were the golden francks coyned and valued at 20 sols or 2 shillings, and so 4 franks were 4 liuers: the said measure of wine is now worth 12 liuers or 24 shillings, and the said franke of gold is valued at 60 sols or 6 shillings: so that foure frankes valued now at three times the value, will pay these 12 liuers or 24 shillings; and yet the said frankes do not now containe any more gold in substance then they did then.

Proceeding to the money of sil∣uer, he taketh his beginning from the time of king Saint Lewis, who began his raigne anno 1227, and caused the first sols to be coyned woorth 12 de∣niers tournois: which were (as hee saith) of fine siluer, and there went 64 peeces in the marke. The sols called douzains of late years coyned by king Henry the second, and now currant, are of three ounces and one half fine, and of 93½ peeces to the marke: which accompted to the marke fine siluer is 320, which is fiue times 64 peeces which were in king Lewis his time. So that one of those sols of his time did make fiue of the sols made now: and consequently the twenty sols now are woorth but 4 of the sols then; and the 25 liuers, 5 liuers; the hundred liuers, twentie; and so more or lesse accor∣dingly.

Now when we pay for one yard of veluet 10 liuers or 20 shillings star∣ling,

it is no more then 2 liuers or 40 sols, which is two shillings starling: which was the price of veluet in Saint Lewis his time.

The elle of cloth which now is sold for 100 sols or 10 shillings starling, is no more then twentie sols or two shil∣lings starling in those dayes.

The Gentleman that hath now 500 liuers by the yeare to spend, hath no more then he that had one hun∣dred liuers to spend in those dayes.

In the like manner he proceedeth for corne, wine, and other commo∣dities: and therupon concludeth, that the dearth of all things is but imagina∣rie, and that it is a vaine opinion of men without any substance of truth, that things shold be dearer now, then in those dayes.

The second Paradox.

There is much to be lost vpon a crowne or any other money of gold and siluer:

albeit, one do giue the same in paiment for the same price he did receiue it.

This (saith Maister Malestroit) is an old and common error rooted in the iudgement of most men, that are farre from the mark and without their rec∣koning, as he will manifest by the same termes of his former Paradox.

In the aforesaid time of king Phi∣lip de Valois, the French crowne afore∣said was woorth but 20 sols, which is now currant for fiftie sols at the least.

The Gentleman that had fiftie sols rent or income, did receiue for it two crownes and a halfe, or so much in siluer accordingly: for which two crownes and a halfe, he had halfe a yard and halfe a quarter of veluet af∣ter the rate of 4 liuers the yard, which was the price of veluet then. Now for this 50 sols, the Gentleman doth re∣ceiue but one crowne, or so much of siluer money: and for that one crown he can buy now but one quarter of a

yard of veluet after the rate of ten li∣uers, that veluet is now worth; wher∣as before he had halfe a yard and halfe a quarter: whereby he loseth then one quarter and one halfe quarter of vel∣uet vpon his crowne, although hee haue giuen the same in payment for 50 sols, which is the price for which he receiued the said crowne: and so proceedeth with other the like exam∣ples.

Then for the siluer mony, the gen∣tleman (saith hee) who during the raigne of king Lewis had 16 liuers of rents or incomes, did receiue for the said 16 liuers, fiue markes of fine sil∣uer, or in gold accordingly. For as by the first Paradox is declared the mark of fine siluer did containe 64 peeces or sols. Now for the paiment of this rent of 16 liuers, he shall receiue 320 peeces or sols, which do containe but one marke of fine siluer: which is but the fift part of that which was con∣tained

in the 16 liuers of king Lewis. In those daies 16 elles of cloth would haue bene had for those 16 liuers after the rate of 20 sols the elle, as good cloth & better then that which doth now cost 100 sols: whereof you shall haue now but 3 elles ⅕ for your 16 li∣uers: so that you shall lose 12 elles ⅘ of cloth vpon 16 liuers: albeit you haue giuen in payment euery liuer for 20 sols, at which price you haue receiued the same: which he doth also amplifie with other examples; adding therun∣to further: that if any man would ob∣iect & say, I care not what the crown, liuer or sols is woorth, so as I hauing one hundred liuers of rent, I may haue one hundred liuers payed me, and that I can pay out againe the said hundred liuers. This man (saith he) must then make proofe, that he can now haue as much wares for two sols which are now almost all of copper, as he could haue had in times past for

two sols, which were of fine siluer: and in doing so, hee should make a third Paradox, more straunge then the for∣mer. For he should go about to proue euery thing to be become better cheap: which cannot be proued. And therefore he concludeth still with the former first Paradox, That nothing is growne deare.

The substance and intention of these two Paradoxes is (saith he) to shew, that the king and his subiects do now buy al things as deare, as in times past: for that they must giue as great a quantitie of gold and siluer, as in times past. But by the enhauncing of the price of the moneys of gold, from whence of necessitie proceedeth the embasing of the siluer monies: the king doth not receiue in payment of his reuenues, such a quantitie of gold and siluer, as his predecessors. In like sort, Noblemen and Gentlemen the kings subiects that haue great incoms,

do not receiue such a quantity of gold and siluer as in times past: but are paid (as the king is) in copper, in lieu of gold and siluer. For which copper, ac∣cording to the second Paradox, they cannot haue so much wares, as they might haue for the like quantitie of gold & siluer. So that the losse, which we thinke to haue by the growing deare of all things, commeth not by giuing more: but by receiuing lesse quantitie of fine gold and siluer, then we were wont to haue. Whereby we see manifestly, that the more we do enhance the price of mony, the more we lose: for thereby commeth the great dearth of all things now, which bringeth a generall pouertie to this realme.

The famous and learned Maister Iohn Bodine making answer vnto these two Paradoxes, first sheweth: how M. Malestroit hath abused himself, to vse the example of veluet to proue his as∣sertions.

For he proueth that veluets were yet vnknowne in France during the raign of Philip surnamed the Faire. And that although he should admit the example of veluets: yet it were no consequence for all other things, which were not so deare proportio∣nably. And concerning the price of wines and corne, he doth prooue the same to be dearer 20 times, and more or lesse vpon occasions: concluding that those examples are also vnfit. And then he cometh to the price of lands, which cānot increase or diminish nor be altered of their goodnesse, if they be manured. Whereupon he taketh occasion to shewe the fertilitie of France: and that certaine Dukedoms, Earledomes and Baronnies are now worth of reuenue as much yearely, as they were sold for in times past. The lands being so much risen in price: he sheweth, that within sixtie yeares all things are growne deare tenne times

the price comparing it to any mony in Fraunce: and so setteth downe the causes of this dearth which are 5 in number:

• 1 The principal & almost only cause: The abundance of gold and siluer nowe extant in the kingdome, more then in times past.
• 2 The Monopolies.
• 3 The want of things, caused by exces∣siue trade and wast thereof.
• 4 The pleasure of Princes, that ad∣uance the price of things.
• 5 The alteration of the valuation of money.

Concerning the first and principal cause, he saith, that the enhauncing of the price or dearth of all things in what place soeuer: proceedeth of the abundance of that which giueth price and estimation vnto things: and her∣upon doth alledge diuerse examples. Plutarch and Plinie do witnesse, that Paulus Aemylius after the conquest of

Macedon against the Persians, did bring such abundance of gold and sil∣uer to Rome; that the people was freed of all imposts, and the price of lands aduaunced vnto two third partes in a moment. The Emperour Augustus brought such great riches from Egipt, that the price of vsurie did decrease, and the lands, became much dearer then before: which was not for the want of lands, which cannot increase or diminish; nor for the Monopolies, which can take no place in this case: but it was the abundance of gold and siluer, which abated the estimation thereof; as it happened at Ierusalem at the time of the Queene of Candace; and in the West Indies, when the Spa∣niards became maisters thereof. By which reason the Emperour Tiberius was much mistaken, to cause him to be beheaded, that would haue made glasse soft and malleable; fearing that gold and siluer would thereby haue

lost their estimation: whereas the a∣bundance of glasses, which are made almost of all stones, and many herbes, would haue diminished the reputatiō thereof; as it falleth out with all other things. Therefore (saith he) we are to shew, that there was not so much gold and siluer in times past three hundred years ago, as there is now: which may easily be known. For if there be mony within the realme, it cannot be so wel hidden, but that Princes in their ne∣cessitie and occurrences will find the same: whereas it is well knowne, that king Iohn in his great necessitie, could not find 60 thousand frankes (let it be crownes) for his raunsome; but did remaine a prisoner to the king of En∣gland for the space of 8 yeares. In like sort, the king of Scots being prisoner, could not find means for his ransome of a hundred thousand nobles, vntill the French king Charles the fift payed the same, making alliance with Ro∣bert

the king of Scots, anno 1371. King Saint Lewis was in the like predica∣mēt being prisoner in Egypt. And the auncient histories do record, that for want of siluer, money was made of leather with a naile of siluer. Wherby appeareth the great want of siluer and gold in Fraunce in those daies: where∣as comming to our age, we shall find that the king did find in Paris in sixe moneths (besides the incomes and re∣uenues) more then three millions 4 hundred thousand pounds; which af∣ter 10 pounds for the pound starling, is 340 thousand pounds starling. Her∣unto he hath added a comparison be∣tweene certain reuenues and monies giuen in mariage with Princes and their kindred in those dayes; with the like done by Princes of late yeares: and how Italie (through peace and meanes of their trafficke) had drawne all the gold vnto them; the treasure in Europe being generally increased since

the discouerie of the West Indies. For it is incredible (saith he) and yet true, that since the yeare 1533, there came frō Peru more then one hundred mil∣lions of gold, and twise as much in sil∣uer. Then he commeth to the causes of the increase of the wealth and trea∣sure of France: shewing how the Spa∣niard running to the vttermost corner of the world for gold, siluer, and spi∣ces, doth come vnto them for their corne, linnen cloth, and diuerse other commodities. On the other side, how the English man, Scot, the people of Norway, Swaden, and Denmarke are continually digging an infinite num∣ber of mynes euen to the very center of the earth, for mettals and minerals, for to buy their wines, prunes, and o∣ther Commodities; and most especi∣ally their Manna of salt, which God sendeth as it were from heauen, their Climate being more apt thereunto, then that of other countries: which

causeth the Flemmings to come with their emptie vessels, to buy the same for readie mony for the maintenance of their trafficke of salt-fish. And this is the first cause.

The second is the increase of peo∣ple, which by reason of the ciuill wars which ceassed betweene the houses of Orleance & Burgundie, are much aug∣mented vntill the troubles for Religi∣on. Whereas the warres of neighbor countries was but a necessarie purga∣tion of the ill humors of the bodie of their Commonwealth: and the wars at home had before that time wasted the countrey, ouerthrowne husban∣drie, and spoiled all handiworke: the Englishman hauing sacked their townes, burned their villages, mur∣thered and robbed the most part of their people, and gnawed the rest to the bones: howbeit, within these 100 years, the towns haue bene reedified, villages new builded, woods increa∣sed,

& the people augmented in such sort, that colonies of Frenchmen haue bene sent into other countries to in∣habite them: and the Spaniard being negligent and lazie, is for the most part in Arragon and Nauarre without any labourers or any other workmen, but only Frenchmen which are more seruiceable and actiue.

Another cause of the riches of Fraunce, is the trade had since their king Francis the first, with the Turke and Barbarian: & the Banke of Lyons erected in his time, brought aboun∣dance of gold and siluer into Fraunce, when he payed 8 vpon the hundred for money, and his successor ten, af∣terwards 16, and 20 vpon vrgent ne∣cessitie: which made the Florentines, Lugueses, Genowaies, Germaines and o∣thers to come & dwell in the realme. By which meanes also the rentes lea∣uied vpon the citie of Paris are brought to amount vnto 3 millions,

and three hundred and fifty thousand pounds tournois yearely. And the ci∣tie would be much richer, if there were a house as at Genes, called the house of S. George, which taketh al the money that men will bring, after the rate of 5 vpon the 100; and doth de∣liuer out the same to the merchants to trafficke therwith, after two and three vpon the hundred: like as the great Emperours Antonie and Alexander Seuerus did, which did deliuer mony at 4 per 100. And Augustus deliuered mony freely without interest to them that wold giue sureties to restore dou∣ble the value, if they did not pay it at the time limited. By these means their subiects got much, and Princes were not driuen to borrow, or to pill their subiects: but did rather diminish their imposts. And so he concludeth, that the aboundance of gold and siluer is the cause partly of the derth of things.

The second cause of the dearth of

things, namely the Monopolies, he doth passe ouer as a matter not consi∣derable to the things intreated of: which is (saith he) when merchants, artificers or laborers do assemble thē∣selues to set a price vpon the Com∣modities, or their handiworke with the augmēting of wages. For the pre∣uenting whereof, hee commendeth the abolishing of their fraternities or companies procured by the meanes of their Chauncelor.

The third cause of the dearth by the want of things, commeth to passe by the excessiue trade of the things, and by the wast thereof. It is certaine (saith he) that we haue our corne and wine better cheape during the warres with the Spaniard and Flēming, then after the warres when the trade is per∣mitted. For the husbandman being driuen to sell and to make money of his wares, and the gentleman finding the same perishable, when the mer∣chant

dare not lade his ships, bringeth downe the price of Commodities, and maketh the people to liue good cheape: which according to the Pro∣uerbe (Fraunce can neuer be famished) would alwaies continue, if by the means of the stranger their storehou∣ses were not emptied. The Spaniard doth buy and transport their corn be∣fore it is ripe, because his countrey (except Arragon and Granado) is of great sterilitie: therfore haue the corn merchants great priuiledges for brin∣ging corne vnto them, and are onely licensed to export mony for the same. From the Spaniard (saith he) we haue but their oyles and spices, and yet the best drugges come vnto vs from Tur∣kie and Barbarie. From Italie we haue their allumes, some silkes, and other Commodities. Oyles we may haue within our dominions of Languedock and Prouence more then we do need: and there are as good silkes made with

vs, as at Florence and Genes. Touching allumes, if we would cut the veines of the Pireney mountaines, we should find an infinite number of allume and copresse, as hath bin sufficiently pro∣ued: whereas France doth spend farre aboue the value of one million there∣of yearely: and the wast of things is incredible.

The fourth cause of the dearth of things, proceedeth from the pleasure of Princes, which do impose a price vnto the things which they affect. For it is a generall rule in state matters, that Princes do not onely giue lawes vnto their subiects, but also (as Plato hath noted) they do chaunge by their ex∣ample the maners of men. To which purpose he doth vse the example of their king Francis the first, who being hurt in the head, caused his haire to be cut off: wherin the people did pre∣sently imitate him, as following the will of Princes, & praising that which

they do commend. We haue seene at one time (saith he) three great Prin∣ces striuing (as it were) who should haue the most learned men and best artificers: namely, the great king Fran∣cis the first, Henry king of England, and Pope Paul the third: in such sort, that the king of England could neuer haue the learned and reuerend Beda; and the French king did pay 72 thou∣sand crownes for a Diamond, rather then king Henry should haue had the same. Presently the Nobilitie and the people did giue themselues to studie and to buy precious stones: and whē king Henry beganne to make litle ac∣count of the stones, their generall e∣stimation and price was abated: wher∣of there are many examples in like sort for the art of painting. The Princes of the East and Alexander the Great had brought them into such credite, that a picture of Venus issuing out of the wa∣ters which Apelles had made, was

bought for 60 thousand crownes; A∣lexander gaue for his 200 talents, that is 36 thousand pound starling. Apelles himselfe made no difficultie to buy a picture of Protogenes for 50 thousand crownes: concluding with other ex∣amples, that the pleasure of Princes maketh things deare as aforesaid. And so returning to the wast or consump∣tion of things, wherein their example is also imitated, he doth reprehend the cutting of silke vpon silke, or any other stuffe, so that it can serue but once for one person: which caused the Turkes to call vs mad men. And fur∣ther he findeth fault, that our Lackies and seruants are apparelled therwith, and that so much stuffe is put into the apparell, disguising with new fangled fashions the proportion of our person or bodie, contrarie to the ancient mo∣destie: when as the fashion of the ap∣parell will many times cost more then the apparell itselfe. To this is linked

the desire of costly houshold stuffe, and daintie and delicate fare of al sorts of meate and drinke; whereof he al∣leaged examples, which are better cō∣cealed then spoken of: for they bring with them all licentiousnesse and ex∣cesse, as a spring of vices of the cala∣mities and miseries of a Common∣wealth.

If any man shold here obiect (saith he) that if things did still become dea∣rer, partly through the wast, and part∣ly also for the abundance of gold and siluer, no man should be able to liue because of the dearth: it is true. But the warres and calamities happening to a Common-wealth do stay the course hereof: as we may see, that the Romaines haue liued with great scarci∣tie, and to speake properly, in great miserie almost fiue hundred yeares, when they had but copper monies of a pound waight, and without stampe, vntill king Seruius; and they made no

siluer monies but 485 yeares after the foundation of Rome; and 62 yeares af∣ter, they made monies of gold. And here he taketh occasion to compare the price of things altered during the gouernment of the Romaines, and the lawes made by them for the suppres∣sing of abuses: and that all their gold and siluer came vnto them in a hun∣dred and twentie yeares by the spoiles of all the world, which was brought to Rome by the Scipions, Paul Aemylius, Marius, Sylla, Lucullus, Pompey and Caesar, especially by the two last. For Pompey did conquer so much land, as made the reuenue of the Empire to come vnto 8 millions and one halfe of crownes. Caesar notwithstanding all his expences & prodigalities brought to the treasurie 40 millions of crowns: hauing giuen at one time vnto Paul Consull 900 thousand crownes for to hold silence, and vnto Curion Tri∣bune 1500 thousand crownes to take

his part. Marke Antonie went further: (if it be true that which Plutarch and Appian haue written) for he gaue vn∣to his armie for their seruice done 200 thousand talents, being 120 millions of crownes: which is to be credited, seeing that the Emperour Adrian for to haue the goodwill of 40 legions, gaue ten millions of crownes. So that we may here see abundance of gold and siluer at Rome: but it did not last euer, for in lesse then 300 yeares, the Parths, Goths, Hercules, Hongers and other cruel nations did ouercome the Empire & all Italy, and ouercame the Romains, burned their citie, and tooke the spoile of them. The like doth hap∣pen vnto all Commonweales, to wax and increase by litle and litle, and to flourish for a time in wealth and po∣wer: and afterwards to grow old and decline, vntill they be vtterly ruinated and destroyed.

Comming to the last cause of the

dearth of things by the alteration of mony, he sheweth how Master Male∣stroit hath mistaken the matter in the monies themselues made within 300 yeares. For whereas he saith, that S. Lewis caused the first sols to be coy∣ned worth twelue deniers, whereof 64 peeces went to the marke; and that in Philip de Valois his time, the crowne of the Flower-de-luce with∣out number, & as good as the crowns now, was valued but 20 sols; and that afterwards king Iohn caused the franks to be made of fine gold which were but valued 20 sols; and that the sols of siluer of that time was worth fiue of our sols: he doth not say of what weight or finenesse the monies were in those daies. And touching the last point he doth contradict himselfe: for he doth acknowledge that the old crown weighing three penny weight, is no more worth then 60 of our sols: so that the auncient sols of fine siluer

can be worth but three of them: and yet the frankes of gold do weigh lesse by foure graines then the old crowne, and are no better in finenesse then the other. And by the proclamation of the yeare 1561, the old crowne is va∣lued at 60 sols, and the franke at 50 sols: which if his proposition were true, and that it were fiue sols for one; then would the old crowne be by this proportion valued at 100 sols, and the franke at 90 sols. And if Master Male∣stroit (saith he) doth take his compa∣rison of the alteration of monies at some one time in any such years whē monies haue bene embased; that is no consequence at all: for within the abouesaid time it is manifest, that the money was once so base in allay, that one of our sols was worth 5 of those which were then. And then he shew∣eth, how al things were rated for their customes, and how vsed within fiftie or sixtie yeares: concluding that the

price of things (notwithstanding his former allegation) is not altered by the valuation of monies. But wel, that things are growne deare, contrary to the first Paradoxe of Maister Male∣stroit: and that was the first point which he was to proue; & the second was the causes of this dearth, as we haue briefly rehearsed.

But forasmuch (saith he) as some great personages do labour by words and writings, that the trade should be cut off, and that no Commodities shold be transported out of the realm; making accompt that we could liue peaceably within our selues, and very good cheape without giuing or recei∣uing any thing of other nations: he doth reprehend them, and sheweth that they haue need of the straungers, and most especially of the trafficke with them. Insomuch that although they could liue without them in re∣gard of Commodities: yet charitie

and humanity willeth vs to maintaine friendship with our neighbours, and rather to giue them part of our bles∣sings, then not to deale or to commu∣nicate with them. Wherein the Ro∣maines were much to blame, who ha∣uing extended their power from the West vnto the East, did refuse to take vnder their gouernment some nati∣ons, because there was nothing to be had of them: whereas the greatest gift of honor that God giueth vnto man, is to giue him the maiestie to com∣maund, and to do iustice especially to the poore not being instructed. But if this lesson doth not please men of this humour, God hath so bestowed and deuided his graces and blessings, that there is no countrey in all the world so fruitfull, but hath neede of diuers things: whereby he holdeth all the subiects of his Commonwealth in friendship, or at the least doth hinder them to make long warres one with

another. And so he proceedeth to shew some remedies to the causes a∣foresaid.

The abundance of gold and siluer now adaies more then in times past, must partly excuse the dearth of things: (saith he) adding further tou∣ching Monopolies and the wast of things, that in vaine are good lawes made if they be not executed; especi∣ally if the king do not cause the cour∣tier to obserue them, whom the com∣mon people doth imitate: whereby al∣so many superfluous things might be auoided, and not brought into the realme; as is done by Italians with per∣fumes, counterfeit stones, and such trifles. Cōcerning the excessiue trade of some Commodities, he declareth, that as the things transported, cause the like to grow deare by the expor∣tation: so the things imported becom the better cheape. Wherof he excep∣teth the trade of corne, which is to be

gouerned more wisely: for they haue had intollerable famines for want of such a due care as Ioseph had in Aegypt. The meane to preuent the same, is to haue many publike store-houses in se∣uerall places, making prouision of corne yearely, by selling the old and prouiding new in place.

Touching the opinion of those, that would haue the vines taken vp, and corne sowed in the place: or at the least to commaund that no vines should be planted hereafter: the hus∣bandman doth with reason laugh thē to scorne. For God himselfe did so di∣rect and dispose the nature of the ground, that all should not be for corne, or all wine; seeing the one hath need of a fat, and the other of a stonie ground. And if the vines were pulled vp, wee should (saith hee) depriue Fraunce of one of the greatest riches of the land. But there is a meane pro∣pounded by those that haue vnder∣standing

in matters of imposts, which would very much enrich the realme, and releeue the common-people: which is, to lay part of the ordinarie charges vpon corn, wine, salt, wood, linnen cloth and draperie: and most especially vpon wine, salt, and corne, which are three elements whereupon (next vnder God) the life of the stran∣ger dependeth, and which can neuer faile. The mines of the North and of the Indies are exhausted in a short time, and the mettals cannot grow a∣gaine: but our springs of corne, salt & wine are not to be drawne out. And howsoeuer the season of the yere doth hinder them to come to perfection: yet other nations do not regard, at what price soeuer they buy thē. And it commeth to passe many times, that salt is better cheape in England, Scot∣land, and Flaunders, then in Fraunce: neither can other nations take offence if impositions bee layed vpon these

Commodities: for they haue done the like vpon diuers Commodities of their owne. And so he concludeth, that by these meanes there would be the lesse transported: and so the dearth of things qualified by greater store re∣maining within the land.

Another remedie against the dearth of things, especially of victuals, is to restore the vse of fish to his auncient credite: by meanes whereof, beefe, mutton, foule, & all such kind of flesh would become better cheape: shew∣ing to this purpose the commodious situation of France, and the great nū∣ber of riuers within their dominion. And so with Galen he doth preferre fish before flesh: for that fish is more wholesome, and is neuer vnsound, as the porke and hare, nor scuruie as the sheepe, nor lousie as the bucke, nei∣ther subiect to diuers diseases as beasts are: neither hath God created foure hundred seuerall sorts of fishes (which

doe not cost any thing to feede) in vaine, being almost all fit for meate: whereas there is not 40 sorts of beasts and fowle, fit for the nourishment of man: but to eate flesh and fish toge∣ther is very vnwholesome. And here∣upon he sheweth, in what great esti∣mation fish was in times past: and that the principall banquets were made of fish; as that of Caligula which did con∣tinue sixe moneths, who made all the Mediterrane sea to be fished; and but for varietie, fowle and other meates were vsed with it. The coast of Picar∣die where the sea is of a sandy ground, (saith he) there the fish is flat; the coast of Normandie & Guienne which is stonie, bringeth foorth the rocke∣fish; and the coast of Brittaine which is slimie, yeeldeth the round fish, as Lamprays, Congers & such like: and yet man knoweth not from whence at one season doth come the infinite millions of Herrings about the coasts

of Fraunce and England, Pilcheards about Galisiea, and Whales and other fishes in new-found land and other seas. Commending hereupon our custome of England, where men are constrained (saith he) to obserue fish∣dayes in the weeke, notwithstanding the great plentie of beasts and fowles. The only meane to bring this to passe is the example of the Prince and great men, whom the people will imitate▪ Adrian a Hollander was of a poore scholer made Pope, by meanes of the Emperour Charles the fift his disciple: and because he did loue to feed vpon hake-fish, presently all the Courtiers, and his followers to please him did the like, and the people also: so that nothing was dearer at Rome then hake fish. The example therfore is of great efficacie, which inferiour men do fol∣low of their superiours.

Then he cometh to the last point, which may hold the price of Com∣modities

in a certain equalitie: name∣ly, certaintie and equalitie of money, which for the time must not be muta∣ble or incertaine: for if it were, no man could make an estate certain: the contracts wil be vncertaine; the rents, charges, taxes, wages, pensions, pe∣nalties, customs and impositions, and all things else in the Commonwealth wil be vncertaine: wheras the Prince (saith he) must be the warrant of the monies vnto his subiectes, and is to haue a singular care to auoide emba∣sing and counterfeiting. And then he discourseth of some auncient monies and waights vsed by other nations, and of the propertie and diuersitie of mettals, and of the alteration of mony in Fraunce, together with their fine∣nesse, proportion, & valuation: which (for to auoide prolixitie) I do passe ouer, albeit I meane to touch in part hereafter.

This is the substance and answer of

Maister Bodine vnto these Paradoxes, which he hath dedicated vnto the President of the French kings Parlia∣ment: for to encourage all them (saith he) that wish well to the Common∣wealth, to continue in the studie of so good a subiect; to the end that Prin∣ces which haue the power to com∣maund, together with those that do giue them counsell, may be more re∣solued in those things, for the honour of God, & welfare of the Common∣wealth: when they shall vnderstand the iust complaints and griefes of the poore people, which doe feele the smart, but cannot for the most part iudge of the causes thereof; and those that haue some iudgement, cannot haue audience or meanes to make it knowne, but by writings vnto those that can easily remedie the same.

But if Maister Bodine had accor∣ding to his wisedome and deepe iudg∣ment in other matters, considered of

these two Paradoxes: he would haue made a direct aunswer thereunto, be∣fore he would haue proceeded in his discourse before alleaged.

The first Paradoxe being conside∣red of with the second, will shewe a manifest contradiction or contrarie∣tie. For the first doth consist in giuing of more gold and siluer for Commo∣dities now, then in times past: which he denyeth. And the second, in recei∣uing lesse Commodities for the gold and siluer now, then in times past; which he affirmeth: which both waies is to be taken in nature of Permu∣tation.

Now if we do not giue more quan∣titie of gold and siluer for Commo∣dities then in times past: how can we receiue lesse Commodities for the gold and siluer, and thereby receiue a losse, as in the second Paradoxe is al∣leaged?

Again, if we do receiue lesse quan∣titie

of Commodities for gold and sil∣uer, then in times past, according to the second Paradoxe, whereby we su∣staine a losse: how can the first Para∣doxe be true, That nothing is growne deare, for that we giue no more quan∣titie of gold and siluer for Commo∣dities, then in times past?

The explanation of his intention touching these 2 Paradoxes, is more absurd considering the premisses. For whereas he saith, that the king and his subiects do now buy al things as dere as in times past, by giuing as great a quantitie of gold or siluer for it: it fol∣loweth, that the king and other his subiects do receiue the like quantitie of gold and siluer proportionably for their reuenues, and not a payment of copper in lieu of gold and siluer (as he saith) considering the course of mony is all alike betweene the king and the subiect. But if we will take his mea∣ning to be, that he hath excepted the

Crowne landes and incomes of the king, and the reuenues of Noblemen & others, wherof the price (as it shold seeme) is not altered with them; like as the Crowne lands with vs, which are at the auncient rent, when siluer was at twenty pence an ounce, which ounce is now esteemed fiue shillings: how can this construction be admit∣ted, considering that he▪ doth con∣clude againe in generall wordes, that the losse which we thinke to haue by the dearth of things, commeth not by giuing more, but by receiuing lesse quantitie of gold and siluer, then we were wont to haue? which is by enhauncing the price of money (saith he) which is the cause of the dearth of all things now, and bringeth a gene∣rall pouertie to the realme. A conclu∣sion most opposite to the first Para∣doxe.

And whereas he saith, that of ne∣cessitie the embasing of the siluer mo∣nies

proceedeth by the enhauncing of the gold: the word Embasing must be vnderstood in price, according to the proportion of valuation which is obserued betweene the gold and sil∣uer: which in those daies was 11 of fine siluer to one of fine gold. But the siluer is not embased by allay or cop∣per in aduancing the price of gold: for the substance remaineth vnaltered and becommeth only abated in price in regard of the gold. Now if Maister Bodine had not shewed before, that Malestroit hath mistaken himselfe in the setting downe of the enhauncing of money in price, and the embasing by allay: wherby the gold monies by him alleaged to be risen from one to two and a halfe, and three in price, and the siluer monies from one to 5: we might haue examined this pro∣portion betweene gold and siluer ac∣cording to his allegation; and therby made knowne, that he had mistaken

the matter as well in the alteration of monies in valuation, finenesse, and waight, as hee did the whole ground of his Paradoxes. For hauing lost the line, wherewith he went into the La∣byrinth of monies and their property: he is like vnto a man, who hauing lost his way amongst the woods, the fur∣ther he goeth, the more he erreth from the right way.

Maister Malestroit might haue de∣clared his intention in two words, if he had had the true ground, and vn∣derstood the matter he went about: by prouing onely, that when monies do alter in waight, or in finenesse, or in valuation, or in all three; the price of things doth alter onely by deno∣mination, if the valuation be made ac∣cordingly.

As for example: an ounce of star∣ling siluer was deuided heretofore by the kings of England in 20 peeces, and so valued 20 pence, euery pennie in

value waighing a penny waight. This ounce in processe of time (as we haue shewed elsewhere) was deuided after∣wards into 30 peeces, then 40 peeces, 45 peeces, and now 60 peeces: so that a pennie waight of starling siluer is now three pence, and the peece is on∣ly altered in name: for a three pennie peece waigheth but a penny waight. So that the ounce of siluer being alte∣red onely in denomination, the price of Commodities must needs receiue the like name or denomination. And if the price of Commodities were not risen aboue this estimation of three for one: then M. Malestroit might haue made good his first Paradoxe: howbeit failed in his second Paradox. Again, let vs suppose that the Queene of England should reduce the valua∣tion of an ounce of starling siluer vn∣to 20 pence, presently the price of things would be altered accordingly: and that, for which we giue now 3

pence, should but beare the name of a pennie; which would seeme to be better cheape, and yet would not be so in effect. For we should giue still the quantitie of siluer of three pence, albeit the name thereof were altered: and therefore not better cheape. True it is, that the Queene should receiue for her incomes and reuenues of Crown lands such a quantitie of gold and siluer as her predecessours did in times past: and Noblemen and others in like sort for their lands, and officers for their fees being after the old rent and custome. But this reduction wold proue very preiudiciall, considering that other Princes haue enhaunced the price of their monies, which doth carie a shew of gaine in the eyes or iudgement of most men, which are thereupon inclined to carie money vnto thē: albeit, the price of the Cō∣modities of those Princes dominions, doth not onely counteruaile that sup∣posed

gaine in the generall course of trafficke, but also farre surmount the same. But the money with vs not be∣ing altered in waight, finenesse or va∣luation within these fiftie yeares (in which time the price of Commodi∣ties is so much altered) how can the first Paradoxe take any place? And if his second Paradox had bene of a true ground, what reason hath any man to measure things present with the things of former ages, so long as there is no alteration of the money almost within the age of any man? For if a∣boue fiftie yeares past I haue receiued an angell of such waight and finenesse as the angels now adaies, for ten shil∣lings, and do pay out the same againe for ten shillings; there can be no losse, although I should receiue lesse quan∣titie of Commodities for the same: which if I do, I cannot attribute the losse thereof vpon my angell, but ra∣ther to the dearth of Cōmodities, the

mony not hauing bene altered with∣in my time.

King Henry the 8 in the beginning of his raign, did find the ounce of star∣ling siluer to be valued at 40 pence, & the price of Commodities according∣ly, the money being in weight and finenesse according to the auncient standard of England: at which time the monies of other countries adia∣cent was not so much aduaunced in price. For an angell being in his time valued at 6 shillings 8 pence, was then woorth beyond the seas 9 shillings 7 pence, and the siluer money accor∣dingly. Afterwards towards the latter end of his raigne vpon especiall occa∣sion, he caused all his mony to be em∣based by allay of copper, and made very base money: whereby the price of all Commodities was aduaunced. So that the money (being altered in substance) was the cause to aduaunce the price of Commodities: albeit that

afterwardes when (to her Maiesties great honour) the substance of mony was reduced to her former puritie and finenesse, had not the like effect; which seemeth to contradict our matter in hand. But we must note here, that there is a coherence to be considered of in the mony betweene the weight, finenesse, and valuation; whereby if generally either of these be altered, all things do alter in price accordingly: but if it be altered in part with due consideration, it hath not the like ef∣fect or operation. King Henry did al∣ter the finenesse of the mony by allay of copper, and withall did aduaunce the valuation of an ounce of siluer frō 40 pence vnto 45 pence, and the gold accordingly; accounting one of fine gold to 11 of fine siluer: whereby an angell was worth 7 shillings 6 pence. The money being brought to the for∣mer goodnesse in her Maiesties raign, would haue abated the price of other

things accordingly: had not the valu∣ation bene altered and counteruailed the same, together with the increase of money. For this ounce of siluer afore∣said was valued at 60 pence, and that which before did beare the name of 45 was called 60: which denomina∣tion caused al other things to remaine at the old price, whereunto they were come through the basenesse of the money before that time. Now before we conclude, it is worthie the noting, that when in this kings time the angel was woorth vnder the Archduke of Burgundie, 9 shillings 7 pence; the King did send vnto the Duchesse (whiles her husband was in Germany) desiring her to value the angell at 10 shillings Flemish: but he could not obtaine the same. Which seemeth ve∣ry strange, considering that the ad∣uancing of the price of money, doth cause the money to be transported to the places where it is aduaunced:

whereby all the angels might haue bin caried into her dominion. But she like a wise and politicke Duchesse, caused the matter to be examined and consi∣dered of, sending men skilfull in mint causes into England. And finding that the golden fleece, aliâs Toison d'or, was the money then most currant with her: and that the same was worth both in regard of waight & finenesse, asmuch as the angel, & was also valued at 9 shillings 7 pence: she could not graunt the kings requests without al∣tering also her money, vnlesse shee would haue suffered the English mer∣chants to bring angels vnto her for 10 shillings, and to carie away the golden fleeces for 9 shillings 7 pence to be conuerted into angels, to the great losse of her dominions, both in the money, and to leaue the Commodi∣ties of her country vnuented: so long as there were a gaine vpon the mony, which abated the price of cōmodities.

These two Paradoxes being thus vnmasked, are easily conceiued of a∣ny man of iudgement to be far from the truth: and therefore will the vn∣derstanding thereof be accounted a matter of small moment, as all things else are when they be known; like vn∣to the egge of Columbus, who hauing discouered the West Indies, and hea∣ring some say at a dinner, that if he had not done it, another might and wold; called for an egge, and willed all the guests one after another to set it vp on end: which when they could not do, he gently bruising the one end of it did make it flat, or rather by swinging did breake the yolke within, and so set it vp: shewing how easie it was to do that which a man had seene done be∣fore him.

Now let vs examine the an∣swer of Maister Bodine.

Maister Malestroit was of opinion, That nothing was growne dearer in

three hundred yeares, as is before shewed. But Maister Bodine was of a contrarie opinion, and sheweth fiue causes of the dearth of things, as we haue also declared. Whereunto for a generall and direct answer by way of Replication, we say: that to shew the alteration of the price of things and the causes therof, is of small moment, the true ground of the matter being by him mistaken. Which true ground must be by making a comparison of the enhauncing of the price of the Commodities of one countrie, with the price of the Commodities of o∣ther countries: and thereby to find out, whether things are grown deare with vs in effect; and whether we pay more proportionably for the forraine Commodities within the aforesaid time of three hundred yeares, then we doe receiue for the price of our home Commodities. For if we do now pay more for corne, wine, and all

other victuals; and sell our Commo∣dities for more then we were wont to do proportionably: here is no alte∣ration in effect, but in name onely, so long as the substance of the money is not altered in propertie. But if we sell our Commodities dearer, and buy our victuals dearer then heretofore; and that ouer and aboue the price thereof, we must pay farre dearer for the forraine Commodities, then pro∣portionably the price of our Com∣modities is risen: this causeth vs to be aloser in particular, and bringeth by an ouer-ballancing of forraine Com∣modities with our home Commodi∣ties, a generall losse to the Common∣wealth: which to supply, causeth vs to make vp the inequalitie with mo∣ny, which is the treasure of the realm. The consideration then must be, not to compare things within themselues in the Commonwealth where we do liue; but betweene vs and other na∣tions

with whom we deale, either by way of permutation of Commodi∣ties for Commodities, or Commo∣dities for money in specie, or by ex∣change. So that we must examine the course of Commodities, Money▪ and Exchange, which are the three sim∣ples, vnder the which all the trade and trafficke is performed: whereof we shall intreate, when we shall haue exa∣mined the matters by him alleaged in particular.

The fiue causes of the dearth of things by him alleaged, are to be di∣stinguished according to our forme▪ obseruation. For the first & last cause concerning plentie of gold and siluer, and the alteration of the valuation of money, may be causes that generally things are deare. But the other three touching Monopolies, the want and wast of things, and the pleasure of Princes; can but make things parti∣cularly deare, according to the vse

thereof: wherein the time maketh al∣so now and then an alteration vpon occasion; as when armes are dearer in time of warre, then in time of peace: victuals in time of famine: wood in winter, and water in desert places, and such like.

Seeing then that plentie of money maketh not onely the Commodities of a countrie deare, but that they are also Nerui bellorum, the sinewes of warre; euery Prince is to haue a sin∣gular care for the preseruation and augmentation therof: especially those Princes that haue no mines of gold or siluer within their dominions, or such as haue had them, and are now with∣out them. The gold was wont to come much out of the mountaines of Boheme, and riuers of Pannonia and Swaden. Out of Spaine, there was wont to come both out of the riuers and monntaines aboue 20 thousand pound weight yearely, which is all

exhausted: then it came from the West Indies, first from Santo Domin∣go and other places, where it doth also cease: now it commeth from Peru by certaine millions, which will also take an end. The siluer is brought also frō the West Indies, and was much found in Germanie: but is now in many pla∣ces drawne out.

The most noble Kings of this realm haue alwaies had a singular care to accumulate treasure; deeming ther∣fore, that it was neither expedient nor conuenient for them to suffer the transportation of their monies or bul∣lion out of the same: as by diuers acts of Parliament may be seene, whereby it was made fellonie for the space of many yeares continuing.

William the Conqueror caused a description to be made of the realme, and the land to be measured, reseruing so much thereof, as he thought con∣uenient for the Crowne: and the rest

he deuided amongst his Barons and knights, who did pay him therefore a certaine summe of money: where∣by he did gather a treasure.

Henry the second succeeding him within one hundred yeares, hauing had many great warres, and ioyned Ireland to the Crowne of England, conquering also Scotland, and redu∣cing Normandie and other places in Fraunce to the Crowne; and hauing raigned 35 yeares, had neuer cause to impose any tribute, subsidie or taxe vpon his subiects: and left notwith∣standing behind him in treasure 900 thousand pounds; which in those daies was not only a great matter (the West Indies not being discouered) but also for that it would make now with vs 27 hūdred thousand pounds, the ounce of siluer being esteemed at fiue shillings, which then was but at twentie pence.

Edward the third made many good

lawes to keepe the treasure within the realme, and for the aduancement of his home Commodities, and had a great care, that the forraine Commo∣dities, should not ouer-ballaunce his home Commodities: knowing that if hee payed more for them, then he made of his Commodities, the difference must be made vp and bal∣lanced with the treasure or money of the realme. For hauing brought the working and making of cloth into the realme, he did deuise by all meanes to find vent for the same, obseruing a due course for to preuent the trans∣portation of his money: and that the true value of his money might be an∣swered by exchaunge with the mo∣nies of other countries. And foras∣much as the same course of exchange could not be done by a multitude of people so conueniently, (the most part being ignorant of the true value of the monies of other countries) he

did appoint and ordaine an Exchan∣ger, who did make exchaunges with all men for forraine parts, according to value for value, and specie for specie, proceeding in all things most orderly, as may appeare also by that: a sacke of wooll containeth 13 Tods accor∣ding to the Lunar moneths of the yeare, euery Tod 4 nayles for the 4 weekes to the moneth, and so 52 weekes in the yeare: euery nayle 7 pounds to the 7 daies of the weeke, and so 28 dayes for the moneth, as 28 pounds for a Tod: and in all 364 pounds for so many dayes of the yeare.

Richard the second hauing an es∣peciall regard to the ouer-ballancing of forraine Commodities with his home Commodities, caused the Sta∣tute of Employment for merchants strangers, to be duly executed. And if they could not sell their Commodi∣ties within a conuenient time, they

were to transport the same againe: and if they made not their returne in Commodities, they might deliuer their money by exchange, but onely to the Exchaunger by him ordained, and none other.

Henry the fift confirming the for∣mer statutes, caused the Staplers to bring into the realme in returne of their wools a great part in bullion, and the Statute of Employment to be duly executed. And the like was done by other kings.

Henry the seuenth, in the 3 yeare of his raigne, made an Act of Parlia∣ment for explanation of the former Statutes, prohibiting all manner of exchaunge or rechaunge within his realme, or for any forraine parts: and that no person should make any ex∣change without the kings licence, or of his exchanger according to the sta∣tute of Richard the second. For in his time the Bankers had their beginning,

who did inuent the merchandizing exchange, and made of money a mer∣chandize: whereby they found the means to ouer-rule the course of Cō∣modities, and to aduance the price of their Commodities, abating the price of others. But this prudent and poli∣ticke king, hauing his coffers stored with standing treasure, did (for the furtherance of trafficke, and for to ad∣uance the price of his Commodities) lend great summes of mony freely to the Merchants. And whereas other nations came into the realme to buy his Commodities, which he knew to be staple Commodities and of great request, as being most necessarie for the vse of man; he did inhibite them the buying of any, vnlesse they be∣came bound in Recognizance not to carie any to the place, where his sub∣iects kept their Marts: and did so qua∣lifie the course of Commodities, mo∣ney and exchange, as he left an incre∣dible

wealth and treasure in those dayes, when the West Indies were but newly discouered, and an ounce of sil∣uer but valued at 40 pence.

Henry the 8 in the 18 yeare of his raigne, perceiuing the price of money continually to rise beyond the seas, af∣ter remission made vnto the Arch∣duke of Burgundie, and no reforma∣tion ensuing, caused the angell noble to be valued from 6 shillings 8 pence, vnto seuen shillings 6 pence: wherby an ounce of siluer was worth fiue and fortie pence: afterwards requested the Duchesse to value his angell at a high∣er rate, as is before shewed, which was cleane contrarie. And then Car∣dinall Wolsey obtained a patent to alter the valuation of money, as he should see cause from time to time. In the 22 yeare of his raigne, the king being in∣formed, that diuerse nations brought abundance of forraine Commodities into his realme, and fearing an ouer∣ballancing

of Commodities (for that those nations receiuing readie monie for their Commodities, which mony they euer deliuered by exchange vnto other Merchants, & neuer employed the same on the Commodities of the realme; wherby his Maiestie was hin∣dred in his Customes, and the Com∣modities of the realme lesse vented) he caused a Proclamation to be made according to the former statutes, That no person should make any exchange contrarie to the true meaning of the said Statutes, vpon paine to be taken the kings mortall enemie, and to for∣feit all that he might forfeit: which tooke place but for a short time, be∣cause the wars brought all things out of order. So that at last the base mony was coyned, which being done with∣out any order, brought diuerse incon∣ueniences to the realme.

Edward the sixt did crie downe those base monies of his father, and

caused new money to be coyned, ac∣cording to the auncient standard of the realme, and did also prohibite ve∣ry seuerely the transportation thereof by Proclamations: albeit they proued fruitlesse, as they haue done in her Maiesties time.

By this briefe collection is to be seene, the great care these noble Prin∣ces haue had, to the end they should not find themselues and their king∣dome without treasure of gold & sil∣uer, drawne by meanes of their Cō∣modities: and to auoid Not to fall in∣to that error of the French king Charls the ninth; who after the massacre of Paris finding the treasure of his realm exhausted, and his subiects wealth to consist more of plate then of readie money, was aduised by some, that vn∣der colour of the suppressing of pride, it were good to take a course to pre∣scribe euery man, what store of plate he should keepe according to his de∣gree

and qualitie, and the rest to bee conuerted into money. Others were of opinion, that it would not onely breed a discontentment vnto his sub∣iects, but a derogation and dishonor of the kings reputation; seeing that the estate of a Prince doth as much consist by reputation as by strength: wherefore like good Polititians did aduise the king to embase his money, which wold cause the same not to be transported, and the plate to be of course conuerted into mony. Which was done accordingly, and had also that effect: sauing that where they thought money would not be trans∣ported, they foūd thēselues deceiued. For the course of exchange was not looked into by them, which did cause a gaine to be had vpon the mony, and so long as the gaine remained, it was still transported: whereby at last he lost the plate of the realme being con∣uerted into money, as well as he had

lost his money before that time.

M. Bodine doth shew by diuers exā∣ples, that there was not so much siluer & gold in times past 300 yeares ago, as there is now, he might wel haue said in 100 yeares and lesse: howbeit this ge∣nerall examination is to smal purpose. For euery Cōmonwealth is to make a particular examinatiō, whether they do proportionably participate of the general abundance or plentie of gold and siluer found now adaies, and not by cōparing the same vnto the quan∣titie of times past: for so should they be deceiued. And we neede not to proue, that there is now more gold and siluer then in times past; for it is cleare in euery mans iudgement. And euen of very late yeares, we find re∣corded in our Chronicles of England, that during the gouernment of the most victorious king Henry the eight in the 14 yeare of his raigne in a Parli∣ament then holden, the whole sub∣stance of London was not taken to be

worth 20 hundred thousand pounds: this citie being the head of the realm where the wealth is heaped vp, as the corne of a field into a barne. And in the yeare following, vpon the de∣maund of a subsidie of foure shillings of the pound, it was proued that the same demaund (amounting to 800 thousand pounds) was more then all the readie money and plate of the realm came vnto, which was out of the kings hands: and yet did amount but to about one hundred marke a parish, not reckoning so many parishes as Machiauell hath done; but only about 12 thousand in the whole realme: the spatious countrie of Fraunce contai∣ning but 27400 parishes. Which rea∣die money and plate of the realme would be now adaies found farre dif∣fering, and much more, and yet not proportionable to the abundance of gold and siluer found in other coun∣tries: and as we may see, that Maister

Bodine hath noted of the city of Paris, and of the many millions which haue come from the West Indies; whereby the realme should be stored with suf∣ficient treasure and wealth. For as he called their salt to be a Manna: so may we call our cloth, lead & tinne, which be our staple Commodities most ne∣cessarie for the behoofe of man. And therefore ought this with vs to be the first cause of the increase of the wealth of the realme, the rather for that in the second cause, which Maister Bodine noteth to be The increase of people: we are not proportionably inferiour vnto them, as we may iudge by di∣uerse causes: namely, First, for the mariage of the Cleargie. Secondly, by the people driuen into the realme for Religion by the wars of other coun∣tries. Thirdly, the seldome plague or mortalitie. Fourthly, the seldome fa∣mine. Fiftly, the small warres of coun∣tries adiacent or forraine warres, ha∣uing

had no ciuill wars at home. And sixtly, the vntimely mariages of both men and women now adaies. Where∣by Colonies might be spared for the inhabiting of other dominions, as heretofore was once taken in hand. The third cause concerning the trade for Turkie and Barbarie, is not onely common with vs for those countries: but also with diuers other countries, where the French men haue no trade at all. And as for their Bankes of mo∣ney, they would rather be preiudicial and impouerish the realme, (as they are vsed) then do any good, as is suf∣ficiently declared in our Treatise of Exchanges: which other nations will find in time, and most especially Prin∣ces that haue occasion to vse them, and might well auoid them; if a due care were had for the accumulating of a standing and yet a running trea∣sure within such bounds, as would stil ebbe and flow for the good of Princes

and their Commonwealth.

Concerning Monopolies, it is strange that Maister Bodine doth with such breuitie passe ouer thē, shewing onely what he meaneth thereby ac∣cording to the Etimologie, true sense and definition of the word: when merchants, artificers, or labourers do assemble themselues to set a price v∣pon Commodities, which one man alone may also count when he buy∣eth vp all, that is to be had of one kind of merchandize, to the end he alone may sell the same at his pleasure. The engrossing, forestalling, or incorpo∣rating of any Commodities or victu∣als, is intollerable in any Common∣wealth, vnlesse that the trade of those Cōmodities would decay, if a kind of incorporation were not vsed. For whē the cōmon-people do buy generally things deare; they can generally also sel their Cōmodities dere according∣ly: but when some particular things

are deare, they cannot do so. Now as the effects of al Monopolies is to make the price of Cōmodities dere: so must the price of things in this regard be considered betweene our home Cō∣modities, & the price of forrain: which if we will but examine within the cō∣passe of 50 years, that our monies haue bene without alteration, as is before expressed: we shall easily procure the great error or malice of those that do accuse the cōpanie of Merchants ad∣uenturers to be a Monopoly; which false imputation may be reproued by by this only, that all forrain Cōmodi∣ties are dearer then our home Com∣modities: which are not risen in price accordingly, & yet of late years are for the most part amended in the making & the other impaired: and one sort of cloth is sold at one time beyond the seas by 2, 3, 4, or more pounds diffe∣ring in a packe one from another: neither haue the merchants aduentu∣rers

the trade of cloth onely in their own hands. For diuers other cōpanies of merchants are priuiledged, and do transport great quantitie of clothes in∣to forraine parts, as well as they; and it is free for all straungers that are in league with her Maiestie to buy cloth & to transport the same at their plea∣sure. Which reasons do concerne the effects of Monopolie. Whereas for the manner of their trafficke, whereby euery man tradeth particularly and a∣part with his owne stocke, selleth by his own factor or seruant, with diuers other reasons: we will referre our selues to that which their Secretarie hath written of late, in defence of their good orders and constitutions. Con∣cluding, that as their trade is the most important, and as in all traffickes the vniuersall doth gouerne the particu∣lar: so the dissolution of that societie would be the vndoing of al the trade, and bring a great confusion to the

Realme. For albeit, that some would haue other nations to come and buy the cōmodities of vs within the realm: for, say they, there is (according to the Prouerbe) twenty in the hundred dif∣ference betweene VVill you buy? and will you sell? these men haue no consi∣deration for the maintenance of na∣uigatiō, which is the greatest strength of the realme: whose defence (next vnder God) consisteth most in ships and well experienced mariners, that most carefully are to be prouided for. Whereas also the transporting of our cloth to certaine places, doth cause other nations to resort thither to buy them: which may be more properly called to be, VVill you sell? seeing that those nations doe bring their owne Commodities vnto our merchants to the places by them appointed, which is in effect as much as, VVill you buy? And would not this be, VVil you buy? if in a dispersed and stragling manner

our cloth were caried to al markets be yond the seas in seuerall places? which would take away the desire of buy∣ing: for he that buyeth, doth it in hope of sale with a gain to the places where he intendeth to carrie the Commo∣ditie. Which Commoditie, if hee knoweth to be extant in most places to be vented; will quench his desire of buying: and he that commeth to barter other Commodities for ours, hath also the like cōsideration. But let vs admit, that our cloth would be ad∣uanced in price, when men shold (by multitudes) runne to the markets, or into the countrey in all places to buy it: what would be the euent of it? It would not onely be sold beyond the seas with a smaller gaine, and many times to losse: (wee being naturally inclined to make speedie returnes) but we should also pay dearer for the forraine Commodities, which we should obtaine by way of

permutation, or for the billes obliga∣torie of the Merchants to whom we should sell our cloth. And if our mer∣chants were cut off, and that other nations should buy the cloth with∣in the realme, and so aduaunce the price therof (as it hapneth most com∣monly in Fraunce and Spaine at the vintage time with their wines and raisins) then forraine Commodities would be sold dearer vnto vs by them againe. For the small gaine had vpon our home Commodities causeth vs, and would cause them to seeke a better gaine vpon the forraine Com∣modities, to the generall hurt of the realme, and to the exhausting of our monies which (to ballance the mat∣ter) must supply the same. So that the enhauncing of the price of cloth in this manner would be but an i∣maginarie gaine, and bring in the end an exceeding losse to the gene∣rall Commonwealth: whose welfare

is to be preferred before any particu∣lar Cōmodity of any member therof. And it were to be wished, that labou∣rers and workmens wages were aug∣mented, although our cloth should cost so much the dearer, as we haue noted elsewhere: and that with great regard the poore people were set on worke, and (by way of corporation) their handiworke were vented; which (without incurring the compasse of Monopolie) is very commendable in all Commonwealths, and vsed in ma∣ny countries. Lastly, that the Statutes concerning the maintenance of naui∣gation were duly executed.

The third cause (saith Maister Bo∣dine) is the want of things, proceeding of the excessiue trade of things, or by the wast thereof. Touching the trade of any particular Commodities of the realme we may well passe ouer, as he doth, and make onely our stay with the trade for corne. Which if it were

guided with that due consideration, both for preseruation and transporta∣tion, as is requisite; would make plain the Prouerbe (Fraunce cannot be fa∣mished) to be more incident and pro∣per to the realme of England, then to the realme of Fraunce: because that proportionably we haue more fertile ground for corne, and that in all pla∣ces of the kingdome, then Fraunce hath but in some places. For those countries where the vines do grow, are vnapt for corne, and must haue their prouision from the countries ad∣iacent, and many times out of En∣gland: when our corne is thither trans∣ported, being with vs too good cheap in regard of their wines and other Commodities. The cōparison wher∣of being made, and the goodnesse of our corne regarded, will make mani∣fest, that to sell our wheate for thirtie shillings the quarter, and other grains after the rate, is good cheape: and that

the Prince notwithstanding may im∣pose a great custome or licence for the transportation therof, which trans∣portation might be done moderately, and according to the quantitie extant, and for so much therof as might con∣ueniently be spared, if the Magistrate and those that are in authoritie had the rule of the market, in such sort as the Venetians haue; who by the means of the Iustices of euery prouince, do know little more or lesse the quantity of corne in all places: whereupon cer∣taine substantiall men are appointed from time to time to haue a consi∣deration of the quantitie or scarcitie therof; which quantitie being known and in what places, may be a direction to those that are in authoritie, to con∣sider what the realme may spare, ha∣uing a regard to the season of the yeare, and making the price accor∣dingly. And when the price of corne is limited and made knowne in wri∣ting

in certaine publike places on eue∣ry Monday of the weeke: all ingros∣sers, forestallers or others, that buy corne to sell againe, are preuented, because that the price thereof is not in their owne power, but by the directi∣on of those honest men rated at all times according to the quantitie, and as the haruest is distant, or at hand, which is so notified vnto all men, as aforesaid. Whereby the execution of the law for the making of the loues of bread is duly obserued, without any trouble vnto the magistrate. For the baker knoweth how to make his loues and of what waight, deliuering the same according to the true waight by those men appointed, vnto any man that doth call for it: which the poore doth so well obserue (for that his in∣digence giueth him cause) that with∣out troubling any officer, he is sure to haue his penni-worth: and if he shold find it wanting of his waight, pre∣sently

with the assistance of an Offi∣cer, (as it were) the Constable, he doth seaze vpon all the bakers bread then extant, and taketh the one moitie for him, and the other for the poore of the Hospitals. And who would buy corne to sell againe, being debarred not to sell at his pleasure or with gain, and vncertaine what the price will be made by others? And what baker is he that would make his loaues of a lesser waight, when he must sell them by waight as aforesaid? By these meanes is corne brought to the market, and none may be sold but in the market, and the Clerke of the market taketh notice therof: and what is by licence transported, is done vpon due know∣ledge, and without defrauding the Prince of his custome. To haue many store-houses in seuerall places of the realme in the principall townes, is most conuenient for the preseruation of corn; which when need requireth,

may be prouided from forrain coun∣tries, when the vnseasonable times cause vs to haue scarcitie or want ther∣of notwithstanding all the industrie and care of man. Concerning the im∣moderate vse of forraine Commodi∣ties in wearing and wasting, by cut∣ting and putting into seuerall strange new fangled fashions, we doe referre the examination thereof vnto those that haue authority to reprehend men of their actions: wishing reformation where things are amisse. And albeit, that gay and sumptuous apparell is a demonstration of pride, yet a country clowne may be as proude in a frize coat, as a gentleman in a veluet gown. For pride harboureth in the mind, and the difference is onely in the gi∣uing of example vnto others: where∣in the costly and gorgeous apparell giueth offence, which may be han∣dled hereafter. Concluding therefore this point with Maister Bodine tou∣ching

allume (whereof abundance is spent with vs) we say that there is stuffe sufficient within the realme, whereof to make it exceeding good: but so long as we be able to affoord the Romish allume for 24 shillings the hundred, and other sorts accor∣dingly, being brought into English ships, it is better for the Common∣wealth to bring it from forraine parts, then to make it within the realme.

The fourth cause of the dearth of things, being The pleasure of Princes or great men, which doth giue a price vnto things; is grounded vpon estima∣tion, the very ground of the value of all temporall things: which things in regard of the behoofe of man, are ser∣uing for food, houses, and apparell, and (as they say) for the backe and belly. This estimation is authorised by common consent almost of al men and nations: and therefore of such ef∣ficacie, that some Politicians haue ob∣serued,

that things that be in d〈…〉〈…〉 things that be not in deed, b〈…〉〈…〉∣med to be in deede, make n〈…〉〈…〉∣rence in the course of trafficke. 〈…〉〈…〉 rule the Bankers, haue studie〈…〉〈…〉 〈…〉〈…〉 might be made apparant, if I we〈…〉〈…〉 solued that it would tend to the g〈…〉〈…〉 of the Commonwealth. But leauing this, let vs consider of the second rule obserued by Plato, That as the Prince is, so are the subiects, who by imitati∣on follow his example, which sooner entreth into their eyes thē their eares: and the greater their authoritie is, the more affectionate is their imitation. Alexander cast his head aside, and all the Court held their neckes awry: Denis was purblind, and his Cour∣tiers stumbled at euery steppe, and iu∣stled each other as if they had bene e∣uill-fighted: and so of other Princes, whose examples haue bene contagi∣ous to their subiects. Maister Bodine maketh mention of three great Prin∣〈…〉〈…〉

〈…〉〈…〉ne time, which did aduaunce 〈…〉〈…〉g and pretious stones. Tou∣〈…〉〈…〉 〈…〉〈…〉arning, vnlesse it be accom∣〈…〉〈…〉 with the knowledge how to 〈…〉〈…〉r to hauewealth, it is litle accoun∣〈…〉〈…〉 whereas a lumpish blocke-head 〈…〉〈…〉le without wit or wisedome, shall be much made of, onely because hee hath money or wealth; whereof by aduerse fortune or casualtie being de∣priued, he is then seene in his owne colour, and laid open to the world. And concerning pearles and precious stones, it is not straunge, that some men do despise and account them as glistering toyes & trifles, considering the diuersitie of mens opinions, which made the auncient Philoso∣phers to say: That the world was go∣uerned by opinions. But if these men should wel consider the pure creation and vertue of the stones, they would iudge otherwise; and their owne opi∣nion (opposite to most men) would

condemne their errour: seeing that a generall estimation doth approue the value of things, especially of things that are durable. Which was the cause that when Commodities began to abound in the world, all mettals (as being fit for preseruation) were estee∣med, and the purest mettall most. The holy Scripture doth manifest vn∣to vs, in what estimation precious stones, gold, and siluer, haue bene al∣waies from the beginning: and to what holy vses they haue bene em∣ployed and appropriated, especially gold and siluer. Was not Iericho de∣stroyed with the inhabitants and their goods by Gods commandement, as things execrable: and would not God haue the gold and other mettals pre∣serued, and to be consecrated and kept in his treasurie? Was it not gold and siluer wherewith his temple at Ie∣rusalem was adorned and beautified? But why should I enter into the enu∣meration

of examples, to illustrate and proue the antiquitie of the esti∣mation of gold, siluer, and precious things: seeing that in all Common∣weales and countries, that onely is decent and of estimation, which the custome doth allow or approoue? Hence the Prouerbe took beginning, Countries fashion, countries honour: which maketh the Indian and Blacke∣moore to dominiere with his glistering beades, brasse rings for their eares and armes, and to giue vs gold and siluer for them. Straunge was therefore the imagination of Sir Thomas Moore in his conceipted Commonwealth of Vtopia: where he fained gold to be in such contumelie, that they made their chamber-pots and other vessels that serue for most vile vses, of pure gold; and haue the same in euery mans pri∣uate house. And their chaines, fetters and gyues wherein they tye their bondmen, were all of gold, as being

the reprochfull badge of infamous persons. Their gemmes and precious stones were holden for toyes for yong children to play withall. And to proue the estimation of things to be accor∣ding to the fashion of euery countrie, and to giue gold his due commenda∣tion, we will vse his owne pleasant tale, in manner as he hath set downe the same. The Ambassadours of the next countries vnto Vtopia, which knew the maners and fashions of the Vtopians (which giue no honour to sumptuous apparell, and hold gold to be infamed and reprochfull) came to Amaurote (the principall citie of that Ile) in very homely and simple array. But the Anemolians because they dwell farre thence, and had very litle acquaintance with them, hearing that they were all apparelled alike, and that very rudely and homely; thinking them not to haue the things which they did not weare: being therefore

more proud then wise, determined in the gorgiousnesse of their apparell to represent very gods; and with the bright shining and glistering of their gay clothing, to dazle the eyes of the silly poore Vtopians. So there came in foure Ambassadors, with a hundred seruants, all apparelled in changeable colours, the most of them in silkes: the Ambassadors themselues (for at home in their owne countrie they were Noblemen) in cloth of gold, with great chaines of gold, with gold hanging at their eares, with gold rings vpon their fingers, with brouches and aglets of gold vpon their caps, which glistered full of pearles and precious stones: to be short, trimmed and a∣dorned with all those things, which among the Vtopians were either the punishment of bondmen, or the re∣proch of infamed persons, or else tri∣fles for young children to play with∣all. Therefore it would haue done a

man good at his heart, to haue seene how proudely they displayed their Peacockes feathers, how much they made of their painted sheathes, and how lustily they set foorth and ad∣uanced themselues; when they compared their gallant apparell with the poore rayment of the Vtopi∣ans: for all the people were swar∣med foorth into the streetes. And on the other side, it was no lesse pleasure to consider how much they were de∣ceiued, and how farre they missed of their purpose, being contrarie waies taken, then they thought they should haue beene. For to the eyes of all the Vtopians (except very few, which had bene in other countries for some reasonable cause) all that gorgeousnesse of apparell see∣med shamefull and reprochfull. In∣somuch that they most reuerently sa∣luted the most vile and most abiect of them for Lords, iudging them by

their wearing of golden chaines to be bondmen: yea, you should haue seen children also (that had cast away their pearles and precious stones, when they saw the like sticking vpon the Ambassadors cappes) digge and push their mothers vnder the sides, saying thus to them: Looke mother, how great a lubber doth yet weare pearles and precious stones, as though hee were a litle child still. But the mother, yea and that also in good earnest: Peace sonne (saith she) I thinke he be some of the Ambassadours fooles. Some found fault at their golden chaines, as to no vse or purpose, being so small and weake, that a bondman might easily breake them: and againe so wide and large, that when it plea∣sed him, he might cast them off, and runne away at libertie whither he would. But when the Ambassadours had bene there a day or two, and saw so great abundance of gold so lightly

esteemed; yea in no lesse reproch, thē it was with them in honour: and be∣sides that, more gold in the chaines and gyues of one fugitiue bondman, then all the costly ornaments of them three was woorth; they beganne to a∣bate their courage, & for very shame laid away all that gorgeous array, whereof they were so proud. Which in effect is as much as to accommo∣date and fashion himselfe to the man∣ner and fashion of the countrie, being also grounded vpon estimation al∣though of baser things: which is to preferre earthen and glasse vessels, wherein they eate and drinke (as he saith) before gold, siluer, & other pre∣cious things. But if all the wit and wis∣dome of man were as yet to deuise, what thing would be fittest to set a price vnto all other things, and to be as a iust measure and proportion be∣tweene man and man in the trade and traffick of things, they could not find

any thing more proper then pure gold, and other mettals accordingly. The foure elements haue such an e∣quall proportion in gold, that none is predominant ouer the other; where∣by all corruption is excluded, whe∣ther you take the same according to the qualities of hote and drie, cold and drie, hote and moist, and cold and moist with Galen: or according to the substance of the elements drawne into salt, sulphure, and mercurie with Paracelsus. For it neuer wasteth or consumeth by fire, and the more it is burned, the purer it is; which cannot be said of any other mettall: there is no rust or scurfe that diminisheth the goodnesse or substance thereof: it a∣bides the fretting and liquors of salt and vineger without damage, which weareth any other thing: it needs no fire ere it be made gold, for it is gold assoone as it is found: it draweth with∣out wooll, as it were wooll: and it is

easily spread in leaues of maruellous thinnesse: you may adorne or guild any other mettall with it. Neither is it inferiour vnto any other mettall to make vessell and curious workes: it defileth not the thing it toucheth as siluer doth, wherewith you may draw lines: it resembleth in colour the cele∣stiall bodies, and it is medicinable and bringeth gladnesse to the hart of man: it is fit also to be cut or deuided into many peeces to make mony, and go∣eth into a litle roome, being easie and 〈…〉〈…〉 table to auoide the combersome 〈…〉〈…〉age of Commodities from one countrie into another. And what thing can be inuented or deuised, that for this purpose hath all these quali∣ties and properties? With great reason therefore hath gold his due estimatiō aboue other things. Also such things wherein the art of man is illustrated; as in pictures & other curious works, are worthie of great commendation,

and to be preferred before many o∣ther things that man doth vse, for to liue in the most ciuille maner aboue other nations which liue barbarously. In all which, the generall care of the Prince must be, and the particular re∣gard of the subiect, that the same bee done for the good of the Common∣wealth: so that the expences thereof do not surmount the incomes or re∣uenues, hauing a due consideration of the moderate vse of forraine Com∣modities, and at reasonable rates, ac∣cording as the price and vtteranc〈…〉〈…〉 of our home Commodities, both 〈…〉〈…〉∣victuals and other wares: without stu∣dying how to liue without the traf∣ficke and commerce with other nati∣ons; seeing that God caused Nature to bestow and distribute her benefits, or his blessings to seuerall Climates, supplying the barrennesse of some things in one countrie with the fruit∣fulnesse and store of other countries,

to the end that interchāgeably one cō∣mon weale should liue with another.

Concerning the last cause of the dearth of things by the alteration of mony, wherein Maister Malestroit had a certaine good purpose if he could haue proued the same to haue bene in France: Maister Bodine concludeth that the price of things is not altered by the valuation of monies in sort by him alleaged, and yet that things are grown deare: which only thē cometh to passe by one cause, which he called almost the only cause, which is the a∣undance of gold & siluer of late yeares running with vs into these parts of the world. For the other causes (as we haue noted before) make particularly some things deare, but not generally all things. And for asmuch as we haue spoken hereof in answer of the Para∣doxes of Maister Malestroit, therefore we passe ouer it: and come to the ex∣amination of the remedies which

Maister Bodine alleadgeth which do onely tend to remedy things in parti∣cular, being well considered of.

He saith, that the abundance of gold and siluer now a daies more then in times past, must partly excuse the dearth of things: which being so, it followeth, that this is not to be taken as a remedy, nor yet as a true cause of the dearth of things; for what cohe∣rence is there to alleage a matter as a remedy against the dearth of things, when this remedy (as I haue shewed before) is the only cause of the dearth it selfe (as he saith) which must excuse the same? which excuse being admit∣ted in defence thereof: doth conse∣quently proue, that things are not growne deare to our hurt in particu∣lar, or to the preiudice of the Com∣mon wealth in generall, because that hauing more gold and siluer then we had heretofore, we are made able to giue more then before. And if we will

say: Take away the cause, and then the effect will cease, that is to say; Take a∣way or diminish the abundance of gold and siluer, and then things will become better cheape: this wold be a very great absurdity. For as he is a foo∣lish Phisitian, that cannot cure his pa∣tients disease, vnlesse he cast him in a∣nother sicknes: so the Prince that can∣not gouerne his subiects but by ta∣king from them the wealth and com∣modity of life, must needs graunt that he knoweth not how to gouerne mē. A prouident and wise Prince there∣fore will rather conclude thus: Are things growne deare, through the a∣bundance of gold and siluer of late yeares? then is it most requisite for me to procure to participate of that abundance, as much as lieth in my power, and to accumulate treasure for me and my subiects by importation of gold and siluer, and preuention of the transportation of any: the rather

that the course of commodities in par∣ticular hath this property, that as by the excessiue exportation of some things, the like things do grow deare: so by the ouerabundant importation of other commodities things do be∣come better cheape.

Another remedy against the dearth of things, especially victuals is to re∣store the vse of fish to the ancient cre∣dit and estimation: and hereupon he taketh occasion to commend our cu∣stome of England for obseruing fish∣dayes in the weeke. And for effecting of the like in Fraunce: he propoun∣deth the example of the Prince and magistrate whom the people will imi∣tate. We may wish that both the one and the other were duly executed or obserued, whereby fishing would be better maintained, and most especial∣ly the nauigation: and flesh would in some seasons of the yeare be vsed more commodiously, and better for

the health of man. The great number of all sorts and kinds of fish according to the obseruation of the Romaines (noted by maister Bodine) ought to moue vs thereunto; fish being so pure a creature, that were it not, that we see the same subiect vnto diseases, it wold be very doubtfull, whether the same amongst other creatures was cursed for mans transgression, the Scripture speaking only that the earth was cur∣sed therefore: considering also the Prouerbe, As sound as a fish: and if a∣ny be subiect to diseases it is fish of ri∣uers or of standing waters and fish∣ponds, which may be cured by straw∣ing much parsley into the water. And because that flesh and fish are two principall things for the food of man, and that our purpose is not to omit a∣ny thing, that incidently may be han∣dled for the good of the common∣wealth, therefore will it not be exor∣bitant the rule of our methode to dis∣course

somewhat thereof. The best season of the yeare to eate fish is from September vntill March, if we will re∣gard the goodnesse of the fish: howbe∣it that for the increase of beasts, we are commanded with great reason and consideration, to eate most fish in March and Aprill, when he loseth his taste. The fresh fish of riuers is of more digestion, and better for sicke persons; but the sea-fish is of more nourish∣ment. All fish being moist and cold of nature, is qualified by the addition of salt: and being eaten with much bread cannot do any hurt, especially vnto cholericke persons, with whose com∣plexion it agreeth best. And whereas all other creatures do first decay and putrifie in the belly, the fish doth first putrifie in the head: for no other rea∣son, but that hauing only one gut, the meate doth easily passe the same, without digestion or corruption; which by staying long with other

ereatures causeth putrifaction: an ar∣gument that fish is more healthfull then flesh, howbeit that (through the continuall vse) flesh is more agreeable with our nature. And whereas maister Bodine saith that it is vnknowne vnto man, from whence at one season the infinite millions of herrings do come: we are of another opinion. For the Herring (against the nature of all fish, which goeth against the water and tide, fearing the lifting vp of his scales) commeth from the Northerne seas, and goeth to the West Ocean to en∣ioy the temperature of the aire. For whereas all the sommer he hath taken his ease and pleasure in the Northerne seas, desirous to enioy the water ther∣of, as being sweeter then that of other seas: he returneth in winter to those places, that haue bene most beaten of the Sunne, being hotter and deeper, as also lesse troubled with the winds and tempests; vnto the which the Nor∣therne

seas are more subiect, & where the sands are thereby eleuated, and concurring with the water. For the Herring aboue all other fishes cannot endure the cold, and therfore are they also dead as soone as they be out of the water. Aire is the cause of putrifi∣cation, which those that haue studied to preserue flesh long without salt, haue found by experience. Salt doth bite out the bloud of the flesh, which we see will not keepe vnlesse it be co∣uered with brine made of salt: yet those that do trauell vnder the line cal∣led Aequinoctiall, do keepe fresh mut∣ton, veale, or any other flesh for a long time without salt; for they presse out the bloud, and hauing well dried the same with linnen clouts, they put it into their barrels of meale, especially meale of Rie, as it commeth from the East contries, and so they do closevp the same, that no aire can enter: which is an easie matter, and their meale not

the worse for to be vsed. Some do also a litle perboile their flesh, and keepe it close stopped in vineger: but that is not so sauory to be eaten. The know∣ledge hereof is fit for Nauigators. But for the good of all the inhabitants of a Commonwealth, let vs commend the singular care of those Magistrats which (to preuent all corruption and diseases of euill aire and corrupted bloud) do commaund, that oxen and all other beasts should be fasting a day or two before they should be slaine: and then hanged vp for the like time, or more, as the season of the yeare will permit, to let the blod runne out before the Butchers may sell the flesh thereof; who knowing the losse of waight by the bleeding, and that it doth not shew so well, are hasty to sell the same to the great hurt and danger of the health of man. This care of the Magistrate therefore tendeth to the preseruation of the health of the sub∣iect.

And to this purpose we do not hold impertinent to commend a good order obserued in other coun∣tries, for keeping of their cities and townes cleane without hauing so many scauengers in euery parish, as we do, to the great charge of the inha∣bitants. For whereas the cleansing of all vaults is brought to certaine places and vsed for dung, there are certaine three or foure scauengers which for two or three hundred pounds a yeare take the same, and the durt of the streetes to farme and do euery one of them keepe twelue or more horses and carts to cary the durt away: which by scattering straw along the streetes from time to time is gathered vp, and so caried to the places where the cleansing of the vaults is mingled with it, which maketh good dung, and is caried all the countrey ouer; preuen∣ting hereby corruption of aire, & bet∣tering their grounds for increase.

His last point concerning certainty and equality of money, which may hold the price of commodities and all other things in a certaine equality by a due course of exchange, is a matter of great moment, as we haue shewed heretofore: which maister Bodine hol∣deth so difficult to be vnderstood, that when any man is sayd to be of expe∣rience, and to vnderstand matters wherein he is surpassing others; that hence the prouerbe is deriued, that One doth vnderstand his Par, or Equa∣litie: be it in matter of exchange or monies, whereby the course of com∣modities is ruled. But this cannot pro∣perly be taken as a remedy against the dearth of things, for it doth keepe a due equality in the price of all things, and maketh not any alteration. So that we may conclude as before, that maister Bodine hauing mistaken the true ground of the matter he intreated of: the remedies by him propounded

are also incertaine. For as we haue said before, we are not in this regard to compare things within themselues in the Common-wealth where we do liue: but betweene vs and other na∣tions with whom we deale or traffike, either by way of permutation of com∣modities for commodities, or com∣modities for money in specie, or by exchange. Therefore let vs examine the course of commodities, money and exchange: whereby the wealth of a Realme may increase or decrease.

Riches (as Aristotle hath defined) are either Naturall or Artificiall. And Plato (before he did reuoke his opi∣nion concerning equalitie, when he willed al things in a Commonwealth to be common, whereby euery man might haue enough: and in regard of these words Mine and Thine, wherby the propertie of things is distin∣guished) did vse to say: That there was no man that did gaine, but another was

a loser: supposing both the Naturall and Artificiall riches to be appertai∣ning and proper to some▪ that were owners thereof. Wherein he did note a kind of absurditie at that time, in re∣gard of his purpose. But afterwards hauing had a due consideration of far greater absurdities that wold happen, if (to auoide strife and contention) goods were common, and conse∣quently women and children; wher∣by families (whereof Commonweals are compounded) wold be dissolued and ouerthrowne: he did wisely re∣uoke his former opinion, holding the matter to be impossible and incompa∣tible. For there can be no Common∣wealth without a priuate wealth; whereby these two words, Mine and Thine, were restored to their former and auncient credite: which all good housholders or fathers of families are to consider in particular, & the Prince as the father of the great familie of a

Commonwealth in generall, as well touching the Natural riches of lands, as of the Artificiall riches proceeding of the same, and to make and mode∣rate his charges and expences accor∣dingly. To which end, first in regard of Naturall riches, the knowledge of his dominions and territories is requi∣site to be considered of, being compa∣red with other Princes dominions, which oftentimes are accounted to be more spacious then they bee. By reason whereof, we haue made this Geometricall description following, whereby the spaciousnesse of one kingdome or countrey, may be com∣pared with another, obseruing onely the difference of the number.

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.

Veritas vnita valet.