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. XX. The Order and Means whereby we may draw up the Ballance of our Forein Trade. (Book 20)

NOw, that we have sufficiently proved the Ballance of our Forein Trade, to be the true Rule of our Treasure; It resteth that we shew by whom, and in what manner the said Ballance may be drawn up at all times, when it shall please the State to dis∣cover how we prosper or decline in this Great and Weighty Business, wherein the Officers of his Majesty's Customs, are the only Agents to be employed, because they have the Accounts of all the Wares which are issued out or brought into the Kingdom; and although (it is true) they cannot exactly set down the Cost and Charges of other Mens Goods bought here or beyond the Seas; yet nevertheless, if they ground themselves upon the Book of Rates, they shall be able to make such an estimate as may well satisfie this En∣quiry: For it is not expected, that such an account can possibly be drawn up to a just Ballance, it will suffice only, that the Diffe∣rence be not over great.

* 1.1First therefore, concerning our Exporta∣tions, when we have valued their first cost, we must add Twenty five per Cent. thereun∣to, for the Charges here, for Freight of Ships, Insurance of the Adventure, and the Merchant's gains; and for our Fishing Trades, which pay no Custom to His Majesty, the Value of such Exportations may be easily esteem'd by good Observations which have been made, and may continually be made, according to the Increase or Decrease of those Affairs, the present Estate of this Com∣modity being valued at One Hundred and Forty Thousand Pounds issued yearly. Also we must add to our Exportations, all the Monies which are carried out in Trade by Li∣cense from His Majesty.

2dly. For our Importations of Forein Wares, the Custom-Books serve only to direct us concerning the Quantity, for we must not value them as they are rated here, but as they cost us with all Charges laden into our Ships beyond the Seas, in the respective Places where they are bought: For the Merchan••'s Gain, the Charges of Insurance, Freight of Ships, Customs, Imposts, and other Duties here, which do greatly indear them unto our Use and Consumption, are, notwithstanding, but Commutations amongst our selves; for the Stranger hath no part thereof: Wherefore our said Importations ought to be valued at Twenty Five per Cent. less than they are rated to be worth here. And although this may seem to be too great allowance upon many rich Commodities, which come but from the Low-Countries, and other Places near hand, yet will it be found reasonable, when we consider it in gross Commodities, and upon Wares laden in remote Countries, as our Pepper, which cost us, with charges, but Four pence the Pound: So that when all is brought into a Medium, the Valuation ought to be made as afore-written. And therefore, the Order which hath been used to multiply the full Rates upon Wares, inwards by Twenty, would produce a very great Error in the Ballance; * 1.2for in this manner the Ten Thousand Bags of Pepper, which this Year we have brought hither from the East-Indies, should be valued at very near Two Hundred and Fifty Thousand Pounds, whereas all this Pepper in the Kindom's Accompt, cost not above Fifty Thousand Pounds, because the Indians have had no more of us, although we paid them extraordinary dear prices for the same. All the other Charges (as I have said before) is but a Change of effects amongst our selves, and from the Subject to the King, which cannot impoverish the Common∣wealth. But it is true, That whereas Nine Thousand Bags of the said Pepper are already Shipp'd out for divers Forein Parts, These and all other Wares, Forein or Domestick, which are thus transported Outwards, ought to be cast up by the Rates of His Majesty's Custom-mony, Multiplyed by Twenty, or rather by Twenty Five, (as I conceive) which will come nearer the Reckoning, when we consider all our Trades, to bring them into a Medium.

3ly. We must remember, that all Wares Exported or Imported by Strangers, (in their Shipping) be esteem'd by themselves; for what they carry out, the Kingdom hath only the first Cost and Custom: And what they bring in, we must rate it as it is worth here, the Cu∣stom, Impost, and petty Charges only deducted.

Lastly, There must be good notice taken of all the great Losses which we receive at

Sea in our Shipping, either Outward or Homeward bound: For the Value of the one, is to be deducted from our Exportations, and the Value of the other is to be added to our Importations; for to Lose and to con∣sume doth produce one and the same Reckon∣ing. Likewise, If it happen that His Ma∣jesty doth make over any great Sums of Mo∣ny by Exchange, to maintain a Forein War, where we do not Feed and Cloath the Soldi∣ers, and provide the Armies, we must deduct all this Charge out of our Exportations, or add it to our Importations; for this Expence doth either carry out, or hinder the coming in of so much Treasure. And here we must remember the great Collections of Mony, which are supposed to be made throughout the Realm yearly, from our Recusants by Priests and Jesuits, who secretly convey the s••me unto their Colleges, Cloysters, and Nunneries beyond the Seas, from whence it never returns to us again in any kind; * 1.3there∣fore if this Mischief cannot be prevented, yet it must be esteem'd and set down as a clear Loss to the Kingdom, except (to Ballance this) we will imagine, that as great a Value may perhaps come in from Forein Princes to their Pensio∣ners here, for Favours or Intelligence, which some States account good Policy, to purchase with great Liberality; the Receipt whereof, notwithstanding, is plain Treachery.

There are ••et some other petty things which seem to have reference to this Ballance, of which the said Officers of His Majesty's Customs can take no notice, to bring them into the Accompt. As namely, the Expen∣ces of Travellers, the Gifts to Ambassadors and Strangers, the Fraud of some Rich Goods not entred into the Custom-House, the Gain which is made here by Strangers by Change and Re-change, Interest of Mony, Insurance upon Englishmens Goods and their Lives: Which can be little when the Charges of their living here is deducted; be∣sides, that the very like Advantages are as amply ministred unto the English in Forein Countries, which doth counterpoize all these things, and therefore they are not considerable in the drawing up of the said Ballance.

Notes

• * 1.1

  How we must va∣lue our Exporta∣tions and Importa∣tions.
• * 1.2

  The Trade to the East-In∣dies, is not only great in it self, but it doth also make our other Trades much greater than they were.
• * 1.3

  Two Con∣traries which are both per∣nicious.