CHAP. V. Forein Trade is the only means to improve the Price of our Lands. (Book 5)
IT is a common saying, That Plenty or Scarcity of Mony makes all things Dear, or Good, or Cheap; and this Mony is either gotten or lost in Forein Trade, by the over or underballancing of the same, as I have al∣ready shewed. It resteth now that I distinguish the seeming Plenties of Mony from that which is only substantial and able to perform the VVork: For there are divers VVays and Means whereby to procure plenty of Mony into a Kingdom, which do not Enrich, but rather Empoverish the same, by the several Inconveniencies which ever accompany such Alterations.
As first, if we melt down our Plate into Coin (which suits not with the Majesty of so great a Kingdom, except in cases of great Extremity) it would cause Plenty of Mony for a time, yet should we be nothing the Richer, but rather this Treasure being thus altered is made the more apt to be carried out of the Kingdom, if we exceed our means by excess in Forein Wares, or maintain a War by Sea or Land, where we do not Feed and Cloath the Soldiers, and supply the Ar∣mies with our own Native Provisions, by which disorders our Treasure will soon be exhausted.
Again, if we think to bring in store of Mony by suffering Forein Coins to pass current at higher rates than their intrinsick value, compared with our Standard, or by debasing or enhancing our own Monies; all these have their several Inconveniences and Difficulties, (which hereafter I will declare) but admitting that by this means plenty of Mony might be brought into the Realm, yet should we be nothing the Richer; neither can such Treasure so gotten long remain with us. For if the Stranger or the English Mer∣chants bring in this Mony, it must be done upon a valuable Consideration, either for Wares carried out already, or after to be Ex∣ported, which helps us nothing, except the Evil occasions of excess or VVar afore-named be removed, which do exhaust our Treasure: for otherwise, what one Man bringeth for Gain, another Man shall be forced to carry out for necessity; because there shall ever be a Necessity to ballance our Accounts with Strangers, although it should be done with loss upon the rate of the Mony, and Confis∣cation also if it be intercepted by the Law.
* 1.1The Conclusion of this Business is briefly thus: That as the Treasure which is brought into the Realm by the Ballance of our Forein Trade, is that Mony which only doth abide with us, and by which we are enriched: so by this Plenty of Mony thus gotten (and no otherwise) do our Lands improve. For when the Merchant hath a good dispatch be∣yond the Seas for his Cloth and other VVares, he doth presently return to buy up the greater Quantity, which raiseth the Price of our VVools and other Commodities, and conse∣quently doth improve the Landlords Rents as the Leases expire daily: And also by this means Mony being gained, and brought more abundantly into the Kingdom, it doth enable many Men to buy Lands, which will make them the Dearer. But if our Forein Trade come to a Stop or Declination by neglect at home, or injuries abroad, whereby the Merchants are impoverished, and thereby the VVares of the Realm less issued, then do all the said Benefits cease, and our Lands fall of Price daily.