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make the Moneys in the Mill。 Thus far this Author： but as I said
before； I undertook this Discourse of the Mechanical part of
Money with Scruple； so I do leave it with Alacritie。
Chapter 11
Of the great increase of the Proportion between Gold and Silver；
and the things valued by them； by which there is grown a greater
want of Money in England than was in Antient times； and of the
Causes thereof； and of the Remedies which may be applied。
Because this Title is of a very curious and perplexed Search；
I am inforced contrary to a Logical Method； to set down my
Conclusion first； and to explain by the cleerest Expressions I
can think of； what it is I intend to prove； and by what ways； and
then to prove that the price of all things； which is the
Proportion between Money and the things； which is the Proportion
between Money and the things valued by Money； at this present is
much encreased from what it was in antient times： and because I
will set down a time certain of Antiquity； I will take the 25th
year of Edward the Third； when a pound of Gold of sterling
standard made 15 l。 sterling； and a pound of Silver of the same；
made 25s。 sterling。 I intend to prove that this increase of price
and Proportion is not meerly according to the raising of the
Money； which hath bin since that； and is about the rate of three
for one； as the Money hath been raised； for then the price and
proportion should be only nominally； and not really encreased；
for that if we pay now 3s。 for that which in the 25th year of
Edward the Third cost but 1s。 and if we pay now 3 Crowns for that
which cost then but one； yet if then there was as much fine Gold
in one Crown as now there is in 3； the price should only be
increased in name； but the proportion between gold and silver；
and the things valued by them； would remain the same。 But I
intend to prove that this increase of Proportion hath bin real；
and that the price of things in general is now grown six times as
much or eight times as much as then they cost； in name of
Shillings； Crowns and Pounds and in reality of fine Gold and
Silver； to double； and almost treble the Proportion of all
things； valued by Gold and Silver； in respect of what it was in
the 25th year of Edward the Third。 Then I intend to prove that
this real increase of Proportion； by which all things valued by
Money； are valued at more than double； almost treble； the
quantity of fine Silver and Gold； than then they were； is grown
principally； and in a manner solely； out of the great quantities
of Gold and Silver come into the Kingdom of Spain out of the West
and East…Indies； within this Hundred years or thereabouts； and
thence dispersed into other parts of the World； whereby it is
come to pass that the value of Gold and Silver is become more
vile and cheap； and generally all things valued by them； are
rated higher； at double and almost treble as much Gold and silver
as they were rated at in the 25th year of Edward III or
thereabouts； as one Scale pres't down doth necessarily make the
other rise higher： From those Proportions it will necessarily
follow that if the Kingdom of England should have at this day as
much Gold and Silver in fineness and weight； or peradventure half
as much more； as it had in the 25th year of Edward the Third； yet
because the increase of the Proportion between Gold and Silver
and the things valued by them is so much greater than it was
then； to wit； above double and almost treble； that the Kingdom of
England is so much poorer and more disabled than it was then； by
how much it wants of that quantity of Gold and Silver； which may；
in Proportion to things valued by them； countervail the quantity
which then was in England； and this great Mischief and Disability
doth not only hold in the present Stock； but in the Fruit and
growing Wealth of the Kingdom。
Lastly； Having discovered this great Evil； the Danger whereof
is not apprehended as it deserves； together with the Causes of
it； I intend to set down what Remedies are propounded unto it。
Now when I shall compare the Prices of things at this day
with those of antient times； if I should go to set down all
things particularly the Labour and Search were beyond measure；
and the variety of the Proportions of prices would not be very
great between several things； but the same things in several
seasons would exceedingly differ in price； and the proofs； would
be very disputable so as no certain conclusion would be drawn
from them： as for Example； of Corn； Cattel； and Fish； the
Proportions of price would not hold the same； and every of these
would differ in several seasons for several causes； as Corn
through unseasonable weather； Cattle through murraign； Fish
through Warr； and every one of these through many other accidents
are able to raise or draw down the price again： Cloth； Linnen；
Leather； and such like； would have the like variety of prices
through the same； and through other causes； as through
Impositions laid upon them； new Inventions； whereby the
Manufactures may be the more easily and speedily made； engrossing
of them； false making of them； want of work…men。
And if these things； which are most necessary for man's life；
are subject to so many varieties of Prices through several
causes； how much more uncertain would those Materials prove；
which serve only to delights and magnificence； as precious
Stones； Pearls； Hangings； Pictures； Embroideries； and such like；
which are subject to so many causes of varieties of price； as
things necessarie； and are moreover subject to the Humours and
Fancies of the Times； by which their price is raised or abased。
But there is only one thing； from whence we may certainly
track out the prices； and which carries with it a constant
resultance of the Prices of all other things which are necessary
for a Mans life； and that is the price of Labourers and Servants
Wages； especially those of the meaner sort。 And as there is to be
found no other certain and constant Cause of the raising of the
Prices of all things； but two； viz。 the one the raising of the
values of Moneys； the other the great abundance of Gold and
silver coming into these parts； in this latter age； out of the
Indies： And although the hire of Labourers did continually rise
（when Money was raised）； yet it did rise so much and no more； as
its value was raised； but after the Discoverie of the Indies； you
shall finde the price of the Labourers wages raised in Proportion
far exceeding the raising of Moneys； and therefore； for my part；
I am certainly perswaded that as long as the values of Moneys are
raised； and the Indies do yield that abundance of Gold and Silver
which they do； that both the hire of Labourers； and generally the
price of all things； especially of things necessary for life；
will rise； although for a year； two or three； through uncertain
Accidents； sundry particulars may stand at a stay or abate： But
that the hire of Labourers and Servants carrieth with it a
resultance of the prices of all things generally necessary for a
mans life： Besides； that Reason doth convince that there must be
a convenient Proportion between their Wages and their Food and
Raiment； the Wisdom of the Statute doth confirm it； which doth
always direct the Rate of Labourers and Servants to be made with
a regard of Prices of Victuals； Apparel； and other things
necessary to their use。 In the 25th year of Edward the Third； it
was provided that in time of Hay…making； none should pay above
our penny in the day； that for threshing of one quarter of Wheat
or Rye； none should pay above 2 1/2 d。； and for threshing of a
quarter of Oats； Barly； Beans and Pease； above one penny half
penny； that a Master Carpenter shall have 3 pence； another
Carpenter but 2d。 a day； a Master free…Mason but 4 pence； a Tyler
3 pence； but either of their servants； a penny half penny： all
this is in the summer time； for in the Winter wages lessened； and
without meat or drink； or any other courtesie； and that in the
Country； where Wheat was wont to be given； they shall take for
the Bushel ten pence； or Wheat at the will of the Giver。
In the Twelvth year of Richard the Second these Rates did
still continue （so likewise the Money did still continue the same
in goodness） but there was further added like wise a yearly rate
for Servants wages； and there was allowed by the year for a
Bailiff 13s。 4 pence； with a Livery： a Master Hind was rated at
10s。 a Carter at 10s。 a Shepheard at 10s。 an Ox…heard or
Cow…heard at 6s。 8d。 a Driver of a Plough at 7s。 at the most： and
all these but the Bailiff； without cloathing or other courtesie。
In the Thirteenth of Richard the Second； It was provided that the
Justices of the Peace might rate the Day…labourers according to
the dearth of Victuals； which seemed to have growth through some
accidental Dearth； which then happened： in the Thirteenth of
Henry the Fourth there was raising of Moneys to about the 6th
part more； by Advice in Parliament； but there was no new Rate for
Servants Wages； until the sixth of Henry the Sixth；the price of
things growing higher by reason of the raising of Moneys： It was
provided by Statute that the Justices of the Peace might rate as
w