The merchants map of commerce wherein the universal manner and matter relating to trade and merchandize are fully treated of, the standard and current coins of most princes and republicks observ'd, the real and imaginary coins of accounts and exchanges express'd, the natural products and artificial commodities and manufactures for transportation declar'd, the weights and measures of all eminent cities and towns of traffick in the universe, collected one into another, and all reduc'd to the meridian of commerce practis'd in the famous city of London / by Lewis Roberts, merchant.

CHAP. II. Of the Art of Merchandizing, and the General Parts thereof.

* 1.1MERCHANDIZING (truly considered in it self, and rightly practised) may well be said to be an Art or Science invented by ingenious Mankind, for the publick good, commodity and welfare of all Common-wealths; for thereby some places and Kingdoms are supplied and furnished with those necessary things, whereof Nature her self hath proved deficient in, and which in some other places or Kingdoms hath abandoned, tending either to the need, ornament, or commodity of humane life, and is performed by exporting the super∣fluities, that are found in the one, to furnish the defects and wants that are found in the other: and the Arts-men that are seen thus to practise and exercise the same, and which do thus trans∣port these things from one place to another, are generally known to us and commonly termed by the name of Merchants, and the things themselves wherewith they Negotiate and Traffick are termed Merchandizes or Commodities.

* 1.2Merchandizing then of it self, in effect, is nothing else but a Commutation, Bargaining, Con∣tracting or Exchanging of one man with another, and by giving by one, so much of one thing or Commodity, to have of the other, so much and the like value, of some one other differing Commodity else; and the 〈◊〉〈◊〉 themselves subject to this Commutation, or Exchanging, are

principally observed in all places to be two; * 1.3first Wares or Goods, and secondly Moneys or Coyn; which two are usually observed to be contracted and bargained for, in three several di∣stinct manners.

* 1.4The first is Goods for Goods, and this is termed Bartering. The second is Goods for Money, and this is termed Bargaining; and the third is Money for Money, and this is properly amongst Merchants, (in these days) termed Exchanging: from whence it proceedeth, and may be concluded, that all merchantile affairs and commerce-like Negotiations may be distinguished in∣to three kinds or sorts, that is, into Bartering, commonly called Trucking; Bargaining, com∣monly called buying and selling; and into returning of Moneys from one place to another by Bills, commonly called Exchanging.

The first of these was taught to Mankind by necessity, who to provide himself of things that were needful, gave in lieu and in truck thereof and for the same, the things whereof he had store and plenty: The second kind was found out and invented to facilitate the first; and the third and last to facilitate the second.

* 1.5In the times of old amongst us, and yet in these days in many places of America, Asia and Africa: the first manner of Bartering was and is yet in use and practised, where though Gold and Silver and Brass was not known nor accounted as a stamped Coin, yet it was then both here, and is still here held in greater estimation than was any other commodity or mettal; the which Homer inferreth in his relation of the Trojan War, where he mentioneth that Achilles his Golden Armour was valued in barter at one hundred Oxen, and that the Brass Armour of Diomedes was valued in barter but at nine: But Man in process of time, finding it too too difficult a thing, and too too troublesome a business, to carry about him, all things thus bar∣ter'd and trucked from one place to another, chose out one singular thing, which as a common standard or measure, should countervail and be in Value as all other things, and which should be received and accounted of in payment, satisfaction, and equivalency to all others; and the things thus chosen and estimated, was Gold, Silver and Brass, the most excellent of Metals, which being then and since, by the Authority of princes, divided into great and small pieces, and into several and distinct parts and denominations, was stamped and coined with several characters, to denote thereby the true weight and value of the same; the which was first done by Servius in Rome of Brass, whereon was imprinted the Image of Sheep and Oxen, betoken∣ing the wealth and riches of those days, as Moneys do now with us; and because that ten of those pieces was then called a Denier, therefore it is that universally all such Moneys are still called by the Latines Denarii: this being then the original of Moneys, which afterward came to be coined both of Silver, and Gold; as I shall more at large have occasion to demonstrate in the Chapter of Moneys, in this following Treatise.

* 1.6This first sort of Merchandizing or Commerce then, as I said before; termed Bartering or Trucking, of one Commodity for another, begat consequently by the means of Moneys the second manner of Negotiation, which is buying and selling, or bargaining; for all Merchants that would transport Commodities from one Country or place to another, to effect the same, need∣ed either other Commodities, wherewith to barter. and so to procure them, or Money, and so to buy them; and therefore to facilitate Merchandizing, and to take away the incommodity and danger of the carriage of Moneys, about a man, or from place to place, a mean was invented to have the same in what Country a man pleased, without trouble or danger of the transport, carriages or rigor thereof; * 1.7and this was found to be best performed by Exchange, which is the third sort of Commutation; the which is noted to be no other than the giving of so much Moneys in one place to one, who should cause it to be again repaid in another place by another for him; as for example, Edward hath here in London one thousand pounds, and desireth to re∣mit the same, or have it in the hands of Joseph, who resideth in Venice; and Lodowick hath one thousand pounds in Venice, in the custody and hands of Thomas, which he would get, receive, and recover out and have them here: it happeneth that Edward meeteth with Lodo∣wick, to whom he delivereth and payeth the said one thousand pounds; and thereupon Lodowick writeth to Thomas, that he pay the said thousand pounds to Joseph, and thus each party comes to be both satisfied and accommodated; by which it may be discerned, that in all Exchanges, there is concluded two payments, two places, and four distinct persons; as he who payeth in the one place, and he who receiveth in the other; and he who receiveth in the one place, and he who payeth in the other; and from hence it consequently followeth, that no man can remit except there be another to draw; nor no man can in the second place receive, except there be another authorized to pay,

* 1.8In this manner then came in use the original of Exchanges, purposely invented to accommo∣date Trade and Commerce, the which at first was practised without either benefit or loss, or any other consideration; and to render again the self-same sum and parcel as was received: but other consideration; and to render again the self-same sum and parcel as was received: but in process of time it came to be considered, that the giver or deliverer of the Money came both to lose a certain space in time ere the same was repaid, and did also run a certrin risgo in the

payment thereof, which the receiver or drawer enjoyed, and profited by; and therefore it was held reasonable that the deliverer should have some fruit and benefit, in requital and satisfaction thereof, which afterward occasioned that the second payment came to be somewhat greater than the former; and that in consideration thereof there should be restored, more than was received: The endeavour of this gain then hath converted Exchanges since into an Art or Myste∣ry; from whence it proceedeth, that many are found at this day to remit and deliver Moneys, to the intent, to have the same returned with benefit, and not for a need or necessity to have it more in one place than in another; and many again are found to be takers and drawers, not with intent to withdraw or recover their Money, from another person, or place; but to serve themselves and their occasions with that of others, for a certain time, paying and allowing for the same, that consideration and interest as is agreed upon, and covenanted between them; which really and in effect is nothing else but a certain kind of permitted Usury, and therefore by some accounted as a thing unlawful, though by many, and by the common and received pra∣ctice of the World, it is upheld and maintained with many solid reasons and substantial argu∣ments; besides which, it is considerable, and peradventure it may well be granted, that if it were not that there is by this Art and Mystery, a gain and profit made thereof, very few Exchanges would present; because that draughts and remittances would in this nature but seldom happen, that would or might any way be available to Traffick and Commerce, and less benefit would consequently redound to the publick and universal Commerce of Kingdoms: and therefore though the intention of particular Exchanges, be not always found good herein, yet the general good effect which it produceth, and that proceedeth therefrom, is in it self and in the true use and custom thereof both approved and laudable.

* 1.9Now in the first sort of Commutation, which I term Bartering, many things do happen con∣siderable and necessary in the Art of Merchandizing; the first is the knowledge as well in the Commodity, thus to be delivered, as in the Commodity so to be received: next a knowledge in respect of the value and present request and estimation of both; then in respect of the quality, whether it be lasting and durable, or impairing or perishable; and lastly in respect of the property, whether it be of it self natural and growing, or Artificial, and made by the hand and industry of man; and lastly in respect of the quantity, whether plentiful in abundance, or scarce and in few hands.

* 1.10In the second sort of Commutation, which I term Bargaining, or buying and selling, are likewise besides the abovementioned, these particulars to be well known and considered; first a knowledge how the Commodity is either bought or sold, as either by weight, as are pon∣derous Commodities, or as by Concave or long measures, as are Commodities of length, or Commodities solid or liquid; the knowledge of which weights and measures, is in like manner perfectly to be known, and really to be understood; and then the fineness, goodness and cur∣rent valuation of the Money of the place, is also to be known, and perfectly and rightly to be found out and be distinguished, that the bargain may appear to be made the more justly, equally, and conscionably between both parties; and for the needful circumstances ob∣served in bargaining, these four things are considerable, as having necessary dependancies upon.

* 1.11First, A Merchant must know what to bargain for, and under this the knowledge of the Commodity it self is comprehended. Secondly, How to bargain, and under this the knowledge of the weights and measures in the general is comprised. Thirdly, When to bargain, and un∣der this the fit and proper seasons of bargaining are generally included. Fourthly, With whom to bargain, and under this point is comprehended, the person and party interessed, that re∣quires the accomplishment or credit in the bargain.

* 1.12Now in the third sort of Commutation, which is here termed Exchanging, the things neces∣sary to be known and considerable by the said Art of Merchandizing are these: First, A know∣ledge of the fineness, goodness and current value of the Princes Coin, both where the party Remitter abideth, and whither the said Moneys are remitted; then a knowledge of the current rate of the Exchanging of the Par or Value for Value, both according to the Standard of the Country, and according to the valuation of the current Coin there passable; then of the Usance of the place; and lastly and principally, to avoid all prejudice and loss, a knowledge is to be had of the party who is the Drawer and Receiver of the same; and in default made of current satisfaction and payment accordingly, knowledge is to be had of the due and true manner and form of making of all legal intimations, protests, and other such needful in∣struments, circumstances and observations as are requisite thereto, according to the strict and solemn Rules required in a Bill of Exchange, which in its due place I shall more at large declare.

Now forasmuch as many of these afore-mentioned points may as well be included with∣in the mystery of some subordinate Tradesmen, as comprehended within the bounds of the Art of Merchandizing; I shall not need to insist farther thereupon, only here insert some

other principal parts and points more aptly comprised within the particular limits of this Science, which in brief I will only nominate, as fitly serving for an Induction to this present MAPOF COMMERCE, and as being the proper Instruments, wherewith also this Art of Mer∣chandizing is practised.

I have noted before, that Merchandizing principally consisteth of Adventures made abroad into several Regions, and that for the most part Merchants are found to traffick and negotiate into divers parts and Countries of the World by the help and benefit of the Seas and Navigation; and to have to that end their Factors, Servants and Agents resident in foreign parts to perform those their Merchantile Occasions, and that Ships and Vessels of all burthens are daily seen to be by them so imployed and set on work through all the parts of the habitable World; therefore the next point needful their knowledge, and comprised in the Art of Merchandizing, I may intitle under the name of Shipping; which properly consisting of sundry portins may be fitly distinguished within the duties of four several distinct persons.

* 1.13The first Person is represented in the building of a Ship, wherein the whole materials are to be considered; next the Art of the framing, forming, and making thereof, is to be ob∣served, the due rules of length breadth, depth, stowage, offence, defence and commodious∣ness in general is to be noted, with all other circumstances thereunto appertaining: and this I hold to be the proper duty of the Ship-wright, and the knowledge consequently not unpro∣per to the Merchant, and fitly comprehended within the Art of Merchandizing.

* 1.14The second is represented in the setting forth of this Ship, wherein her tackle, apparel, victu∣al and munition, and all her needful and dependent furniture is to be considered, her pro∣vision and store is to be observed: and this I hold to be the proper duty of the Owners and letters out of Ships to fraight, and the knowledge most proper for the Merchant, and com∣prehended also in the Art of Merchandizing.

* 1.15The third is represented in the sailing of this Ship, wherein the Art of Navigation is gene∣rally to be considered, with all circumstances thereunto of right appertaining, which I hold to be the duty of the Master and Pilot; and how far this knowledge may be necessary to the Merchant, I have mentioned in a Book intituled, The Factors Avizo, which I may, if occasion serve, publish to the use and benefit of Merchants and Factors that frequent the Seas, and take pleasure therein.

* 1.16The last is represented in the imployment of this Ship, wherein is considerable these six things. First, The lading of the Goods aboard, by which this Ship comes to be imployed, which must be done in fair and dry weather, and at fit seasons: Secondly, The stowage thereof aboard, which must be done without prejudice or hurt of one Commodity to another, by building of Bulk heads, and providing of Desnege, and the like, whereon the said Goods must bear or lie upon: Thirdly, In truly marking the said Goods, that it may evidently appear who is the right Owner and Proprietor thereof: Fourthly, In really paying and truly discharging all Cu∣stoms, Duties and Charges thereupon, that neither the Ship nor Goods may be subject to loss, confiscation or prejudice thereby: Fifthly, In making assurance thereon, that the imployer preventing losses may not indanger his whole Adventure: And Sixthly and lastly, In a general knowledge of all the Sea-Laws comprised either in the Roll of Oleron or Consolato of Barcelona, that all Controversies between the Merchant and Mariner may be avoided; that he may thereby the better right himself, and do also that which is right to all others; and this I hold to be the proper duty of the Merchant and his Factor.

* 1.17In order to this I may here nominate such other things as are needful to his knowledge, and which have a necessary dependence upon the Art of Merchandizing, as next to know all manner of specialities proper to his Place and Calling. And first the manner, force, and virtue of a Bill of Exchange, the terms, and proper method thereof, with all manner of Ob∣servations required thereto by the solemn, and strict rules of the proceedings commonly used therein.

* 1.18Secondly, The making of all Intimations, and Protests, in all cases whatsoever incident to this Art.

* 1.19Thirdly, The manner and making of all Charter-parties for the fraightment of Ships; wherein all conditions and their circumstances must be truly and at large set down and declared, as the time when the covenanted Ship is to depart, the Ports where she is to unlade, the days agreed upon for her unlading, the sum agreed upon for fraight, and all other the par∣ticutar conditions accorded upon, the better to avoid all inconveniences and contentions in Law that may happen thereupon.

* 1.20Fourthly, The manner of making of Bills of Lading, wherein the Goods laden, and the condition thereof is to be truly set down: also the Ship wherein the same is put, and the Master or Pilots name and who taketh the charge thereof; the place of unlading the said Goods, and lastly, the fraight to be paid for the same, when delivered according to conditions specified.

* 1.21Fifthly, The manner of making of Policies of Assurances; wherein the Goods assured are to be nominated, the Ship upon which the same is laden, and the Master thereof declared, the Dangers and Adventure assured to be specified, the places whence and whither bound noted, the Rate or Premio agreed upon observed; and lastly, the Persons or Parties Assurers sub∣scribed, &c.

* 1.22Sixthly, The manner of making of all manner of Specialities and Bills of Debt, either as they are simply in use amongst us in England, or obligatory, as also to know the force and strength thereof in Law, both here and beyond the Seas, with Transportations thereof, as is used in many foreign Countries; wherein is to be set down the name and profession of the party debtor, the sum owing thereby, to whom the same is due, and the time when the same is payable, and the place where, and in Bills obligatory, the penalty for non-payment accor∣dingly.

* 1.23Seventhly, When the same is discharged, the form and manner of an Acquittance and gene∣ral release in full discharge for the payment thereof.

* 1.24Eighthly, The manner of drawing a Letter of Attorney or Procuration, with the strength thereof both here and beyond the Seas: wherein is to be mentioned the power and autho∣rity given, the party that giveth the same, and the party who receiveth it, and the scope, end and determination thereof; * 1.25and lastly, to conclude these necessary appurtenances and dependences upon the Art of Merchandizing, there must be added a right and perfect Skill in Accompt-keeping, that thereby all his daily Affairs, his Adventures, Shipping, Sales, Buyings, Payments and Receipts, &c. may orderly and truly be manifested, which is so far forth to be learned and known, that his Estate, Gains and Losses, and all passages that are else needful hap∣pening in the course of his Negotiations, Merchandizing or Commerce may appear, and which may thereby be either yearly, or oftner reduced into a ballance, to his own contentment, and to the commodity of his Estate and daily Traffick.

* 1.26And as a Hand-maid or Usher to this Art of Accompting, he must, to finish and make up these helps and furtherances, have the assistance of the Art of Numbring or Arithmetick, in which whosoever is ignorant may not challenge to himself the Title of a Merchant, nor be said to have any Judgment in the Art of Merchandizing, nor hardly deserve the attribute of a rational man.

These are now the principal parts of the Art of Merchandizing, and the Basis whereupon the same is observed to have its foundation, as it is seen, practised, and exercised by all Merchants in general in these our days throughout the habitable World, the most part whereof I have more particularly handled in the following succinct Chapters, and some others I have willingly omitted, as being such as are so inherent to the Art it self, that every knowing Merchant must not be ignorant therein, having in all other respects endeavoured to make this MAP OF COMMERCE so perfect, absolute and compleat, that it may stand the Mer∣chant (especially the Learner) in stead, both at home and abroad beyond the Seas, and serve him as a Guide and Tutor to direct and instruct him in all the parts of the Art of Merchandizing.

And having thus run over the ground of this Art it self in the general, I will in the next place begin with the Cities and Towns, where at this day it is found, that for the most part this Art of Merthandizing is seen to be practised and used.

Notes

• * 1.1

  Merchandi∣zing accoun∣ted an Art.
• * 1.2

  Merchandi∣zing what.
• * 1.3

  The materi∣als of Mer∣chandizing, are Commo∣dities and Moneys.
• * 1.4

  Commutati∣ons distin∣guished into three man∣ners or kinds
• * 1.5

  Bartering.
• * 1.6

  Bargaining.
• * 1.7

  Exchanging
• * 1.8

  Exchanges drawn into a profitable Art, and the reasons thereof.
• * 1.9

  Things con∣siderable in Bartering.
• * 1.10

  Things con∣siderable in Bargaining.
• * 1.11

  Principally four.
• * 1.12

  Things con∣siderable in Exchanging
• * 1.13

  First duty to build, be∣longing to the Ship∣wright.
• * 1.14

  Second duty to furnish and set out, belonging to the Ow∣ners.
• * 1.15

  Third duty to sail the Ship, be∣longing to the Pilot or Master.
• * 1.16

  Fourth du∣ty of im∣ploying this Ship, be∣longing to the Mer∣chant.
• * 1.17

  A Merchant is to know the form of a Bill of Ex∣change.
• * 1.18

  Secondly, Of all man∣ner of Pro∣tests and In∣timations.
• * 1.19

  Thirdly, Of Charter∣parties.
• * 1.20

  Fourthly. Of Bills of Lading.
• * 1.21

  Fifthly, of Policies of Assurances.
• * 1.22

  Sixthly, of Bills of Debt, and Obligatory.
• * 1.23

  Seventhly, of an Ac∣quittance.
• * 1.24

  Eighthly, of a Letter of Attorney.
• * 1.25

  Ninthly, in Accompt-keeping.
• * 1.26

  Tenthly, of Arithme∣tick.