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will briefly represent the actions of War in the said years；
besides the ordinary expence and the said actions of War could be
now maintained； but by a Proportion so much larger as the rates
of wages are now encreased； which I compute between six and eight
times as much a they were in the 19th year of Edward the third。
The whole receipts of the Kingdom； as appeareth by the Pell
of the Introitus amounted to 72；826 pound 11 shillings 5 pence；
in that year the King sent over six hundred men of Arms； and six
hundred Archers into Gascoign； under the Conduct of the Earl of
Derby； and divers other great Lords； who gathering unto them the
other Garrisons； did not only maintain a body of an Army in the
field a great part of that year； but recovered divers Towns by
Siege： all that year the King did likewise maintain some
auxiliary forces of good importance； the Number is not set down；
for the aid of the Duke of Brittany under the Command of Sir
Thomas Dayworth。 And that Year the King likewise made a voyage in
great magnificence into Flanders； and continued there long in
Treaty with Jacques van Arteveld and the Flemings； to withdraw
them from the Homage of their Earl unto his Allegience。 The 20th
year of Edward the Third； the whole Revenues of the Kingdom in
the Pell； amounted to 154；139 pound； 17 shillings 5 pence。 This
year the same forces were maintain'd in Gascoign； which did
freely ransack and spoil all Xaintong and Poitou； by the favour
of the Kings great Victories elsewhere。
And in July the King went over in person； and landed in
Normandy； and wasted a great part of that Province； and ransacked
many of the principal Towns： his forces transported thereto； are
by Hollingshead reckoned 4；000 men at Arms； and 10；000 Archers；
besides a great Number of Footmen； but not defined。 In the end of
Summer he fought that famous Battel of Cressey； and in the
beginning of Winter did set his Siege before Calais。 This Year
likewise was the King of Scots taken prisoner at the Battel of
Durham； by the Queen： The 21st year of his Reign his Receipts
amounted unto 226；113 pound； five shillings and five pence；
almost all this year the King continued his Siege before Calais；
having reinforced his Army； both out of England and Gascoign； and
kept the Sea by his own Shipping and the Easterlings； and in the
end of the year； notwithstanding that the King of France having
assembled all his Puissance； sought to rescue it； the Town was
yielded； and an English Colony transported thither； and Victuals
besides； all this year the King continued his auxiliary forces in
Brittany with great success。
Now if King Edward the Third had with his Revenue furnished
out Money for these great actions of War； besides the
Magnificence of his own house and other necessary expences of his
Kingdom； I do appeal to the Judgment of the Reader whether the
ordinary expences of the King's house； and other necessary things
within his Kingdom； and the like actions of War could be
maintained （not speaking of the success） at this day with any
frugality without any other increase of comings in； equal in
Proportion to the increase of the hire of Labourers and Servants
wages； which I compute at six times or rather at 8 times as much
as then it was。 And I am sure that whosoever shall exactly weigh
all Circumstances； shall find that of the two； this latter
comparison will exceed the former。
Having thus； with as much exactness as possible I can； and I
conceive is incident to this subject； made proof of the
Proportion between Gold and Silver and the things valued by them；
as it now stands compared with what it antiently was； and namely
in the 25th year of Edward the Third； the next that I have
undertaken to prove； is； that the different Proportion which is
really grown between Gold and Silver； and the things valued by
them； doth principally and indeed solely arise of the grat
quantities of the said Mettals； which in these hundred years was
brought out of the East and West…Indies。 Now although there be
many other causes which may produced this effect； as Scarcity or
Abundance of the things valued by Money； War； Depopulation； and
all other Accidents； by which； either these Mettals are
exhausted； or the things valued by them are consumed or made less
useful； yet； as before is shewed； all those are temporary and
subject to continual variety up and down； and therefore cannot be
the causes of a constant effect as this is。 And； as for the
continual variety up and down； and therefore cannot be the causes
of a constant effect as this is。 And； as for the continual
raising of the values of Moneys； it is formerly shewed； that
really that breeds no disproportion between Gold and Silver and
the things valued by them； but only it breeds an alteration in
the Proportion between the species of Money； so named； as Pounds；
Crowns； Shillings； etc。 and the things valued by them； and
accordingly in the Examination of the Rates of the hire of
Servants and Labourers； it might be observed that it punctually
arises according to the raising of the value of Moneys； until the
discovery of the West Indies； and the navigation of the
East…Indies； which have brought in so great a glut of these
mettals。 There is no other constant cause to produce the real
disproportion； but only the abundance of Gold and Silver； by
which of necessity they must grow cheaper and abased in their
value。 A certain Author who wrote about the year 1620； doth
calculate； that in the space of 100 per year there was at that
time brought into Spain and Portugal 900 Milions of Pezoes； worth
six shillings and sixpence sterling a piece in Gold and Silver；
which calculation doth seem to be excessive amounting to nine
millions every year of Gold and Silver out of the Indies； of all
which infinite Summ； not one jot did come into these parts in
former times out of the West Indies； and very little or nothing
out of the East： how is it then possible but that it must abase
the value of the Mettals？
And if it be said that we waste this excessive supply in our
excesses of Luxurie； as in Guildings； Embroideries； Inlayings；
and the like； so as the mass of the said Mettals increaseth not；
it is answered； That neither were former times exempt from those
vanities； neither are they now sufficient to consume the greatest
Proportion of this stock。
And if it be objected that the greatest part of the Stock is
drayned away every year to the Eastern Countries：
It is answered； That this is only true of Silver； and yet the
Silver cannot be so drained away； but that a great part doth
remain in Europe。 Now if the Rate of things valued by Money be
six times as great as it was in 25th of Edward the Third；allowing
the values of Moneys to be raised to treble what they then were
by the same names； yet there will be a real Increase of a double
Proportion； yet there will be a real Increase of a double
Proportion； to what then was of gold and Silver in weight and
fineness； to things valued by them； and if the rate be raised to
eight times what it then was； the real increase of the Proportion
will be almost treble to what it then was。
To understand the whether this Kingdom be now of the same
Wealth and Ability which then it was： We must find out whether
there be now double or treble the quantity of Gold and silver in
weight and fineness in this Kingdom which then was； and whether
the fruits and growing wealth of the Kingdom will produce double
and almost treble the quantity of Gold； in weight and fineness；
to what it then did。 I am absolutely perswaded that we shall fail
of it very much； of which the most certain and assured proof were
to calculate for so many years together the quantity of Gold and
Silver coined in those days； and then by a medium to compare it
with so many years in these times； though this proof were not
demonstrative； but probable。
But in those days the Mint was kept at Calais； as well as in
the Tower； and much more of the Money of this Kingdom was coined
there than here； the Records whereof are all lost and dissipated。
But that our Wealth doth not answer that increase of
Proportion at this day； I will endeavour to satisfie the Reader
by two Arguments； the one drawn from the Abundance or Scarcity of
Gold and silver； the other from an Effect of it。
For the first it is this； I have alwayes understood it to be
observed by all men intelligent and practised in matters of
Trade； that although all Commodities in general are raised in
price； in comparison of what they antiently were； yet in general
that our domestick Commodities are not raised answerable in
proportion to Forrein。 Now we have a very small quantity of
Silver produced within our own Countrey； and of Gold none at all；
so that the Stock of these Mettals is in a manner raised wholly
out of the over…ballance of our domestick Commodities with
forrein： it then ours do not rise in price from what antiently
they did bear proportionable unto Forrein； it is a strong
Argument to prove that our Stock of these Mettals does not
increase in a Proportion answerable to the increase of the Price
of other things valued by Money。
The second Argument is from the