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. XIII. The Merchant who is a meer Exchanger of Mony by Bills, cannot Increase or Decrease our Treasure. (Book 13)

THere are certain Merchants which deal only upon all advantages in the Ex∣change, and neither Export nor Import Wares into the Kingdom, which hath caused some Men to affirm, that the Mony which such meer Exchangers bring in or carry out of the Realm, is not comprehended in the Ballance of our Forein Trade; for (say they) sometimes when our Sterling Mony hath been undervalued, and delivered here for Amster∣dam

at 10 per Cent. less than the equal Value of the respective Standards, the said meer Exchanger may take here one thousand Pounds Sterling, and carry over only nine hundred thereof in Specie, which will be sufficient to pay his Bill of Exchange. And so upon a Greater or Lesser Sum, the like Gain is made in three Months time.

But here we must know, that although this meer Exchanger deal not in Wares, yet notwithstanding the Mony which he carrieth away in manner afore-written, must necessa∣rily proceed of such Wares as are brought into the Kingdom by Merchants. So that still it falleth into the Ballance of our Forein Trade, and worketh the same Effect, as if the Merchant himself had carried away that Mony, which he must do if our Wares be over-ballanced, as ever they are when our Mony is undervalued, which is expressed more at large in the 12th Chapter. And on the contrary, when the meer Exchanger (by the said advantages) shall bring Mony into the Kingdom, he doth no more than necessarily must be done by the Merchant himself, when our Commodities over-bal∣lance Forein Wares. But in these Occasions some Merchants had rather lose by delivering their Mony at an undervalue in Exchange, than undertake to hazard all by the Law; which, notwithstanding, these meer Ex¦changers will perform for them in hope of Gain.