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of other things valued by Money。
The second Argument is from the Effect； now one of the
greatest Effects of the abundance of Gold and Silver； is； the
Ability which the Kingdom hath to set forth and maintain great
actions of War in forrein parts： then let us set forth before our
eyes the many and great Armies which Edward the Third did raise
and maintain both of Strangers and his own Subjects in the first
year of his Warrs against France； and withal let us take into our
consideration the Calculation made； in Anno by expert
Commissioners； of the charge of one Army to be raised；
transported； and maintained for one year； in Forrein Countries；
25；000 Foot and Horse； and proportionable Artillery； which doth
account unto and then I doubt not but that every mans own
Conscience will convince him that at this day the Kingdom is not
able to maintain the like actions in forrein parts which then it
did： and yet at that time there were forces maintained against
Scotland； a great part of the Realm was imployed upon Monks and
Friers improfitable members； besides the substance of a great
part of the Wealth of the Kingdom （drawn of） by the See of Rome：
and the trade of the Kingdom was in no comparison so great as it
is now； and this is an undoubted Effect of this truth； That the
increase of our stock of gold and Silver is not in a Proportion
answerable to the increase of the price of other things valued by
Money； neither can there be any other analogical reason given of
the present disability but this； That although that we do draw
some drops of this Indian spring； whereof Spain is the Cistern；
yet we do draw them at the second hand； we draw them upon hard
terms and conditions； and we do not draw them neer in that
Proportion as the prices of all things do arise upon our hands；
by the great increase of those Mettals； and the consequence of
this hath more advanced the affairs of Spain in these times than
can be imagined； for that hereby all the other States of Europe
have bin abated half in half。 I will propound France for Example；
which Kingdom notwithstanding draweth much more Money out of
Spain than we do； by reason that the French consume little of the
Spanish commodities； make the return of their own for a great
part in Gold and Silver。
The Author of the Denier Royal undertaketh to prove that St。
Lewis in France； who was contemporary with Henry the Third of
England； whose whole Revenues in those days amounted not unto
300；000 French livres； did notwithstanding in Proportion to all
things valued by Money； raise more out his Kingdom than Lewis the
thirteenth who now reignth； and whose Revenue amounteth； unto
3；600；000 pound sterling。
And although he bringeth such Arguments and Authorities for
his assertions； as for my part； I cannot see how they can be
answered： yet the difference is so great that I could hardly
assent to his Conclusion； were it not for this reason。 In the
time of St。 Lewis； Provence； Dauphiny； Gascoign； Brittany and
other parts were distracted from the Crown of France； and yet did
he transport such Armies and maintain them so long in the Holy
Land； Egypt and Affrick； besides the payment of an excessive
Ransom to the Mammalukes for his Liberty； as this present King
was not able to do the like； though his Revenue were three times
as much as it is； of which there can be no other cause answerable
to the effect； but the excessive increase of the price of all
things； more than the increase of Gold and Silver in the Kingdom。
And if these Kingdoms of England and France are so much impaired
in ability by this Means； how much more must those Kingdoms be
disabled which are more remote； and draw these Mettals from Spain
but at a second or third hand： I am perswaded that the
consequence of this hath more advanced the affairs of Spain in
these later times than the success of their Armys： neither can
any other Remedy be propounded to this Mischief but one； which is
to fetch these materials of Money from the fountain it self。 And
for my part I do confidently believe that future times will find
no part of the Story of this Age so strange； as that all the
other States of Europe have endured this ruinous Inconvenience
with so great Indifference； or rather Stupidity； so long； and
that they have not combined together to enforce a liberty of
Trade in the West Indies； the restraint whereof is against all
Justice； Trade being de Communi Jure an appendant of Peace； and
against the Example of former Ages。
It is true； that the Romans who of all other Nations were
most advantageous in their publick Contracts； did enjoyn the
Carthaginians； that they should not sail beyond certain
Promontaries with their vessels of War； but never debarred
Commerce and Trade into any parts。
And the Muscovites and those of China； who forbid all Access
unto Strangers in their Dominions； do notwithstanding permit all
Fairs and Markets in their parts and entries of their Countries
for commerce with other Nations； with whom they have no
Capitualations of Peace。
But the Spaniards and Portugals do not only forbid all access
and commerce to the West and East Indies within their Dominions；
but do define and bound their Dominions； in a manner unheard of
to all former Ages； and with an arrogancy more than humane； for
whereas all other Nations； since the World began； have claimed
and denominated their Dominions either from their own possession
or the possession of their Ancestors； the Spaniards and
Portugals； in a contrary way； draw certain imaginary Mathematical
lines through Heaven and Earth； and claim for theirs all that
lieth within the compass of these lines； as if they would
incroach upon God in Heaven； as well as upon Men on Earth。
Chapter 12
Of the raising of the Price of Moneys by our Neighbours； and the
defect of our not raising of our Moneys accordingly。
Both these Causes are assigned of the Rarity of Money； and
are indeed the same； and do both stand and fall together； and
both are assigned for causes of Exportation of our Gold and
Silver； and for Impediments of the importation of these Materials
unto us： For if it be true that our Neighbours by the raising of
the price of the Moneys of Gold and Silver； do the more abound in
Gold and Silver； it is true likewise； that if we do not raise
ours in the same Proportion； we shall much less abound in the
same Materials： And if it be true； that they by raising theirs do
draw a greater quantity of Gold and Silver into their States； it
is likewise true； that they do not only thereby withdraw from us
that quantity of Gold and Silver； which would otherwise be
imported unto us； but they do facilitate the exportation from us；
of that whereof we are already possessed： But； on the contrary；
if these Positions be not true； then all the Consequences
inferred upon them are not true likewise； Now because almost all
the deliberations in matters of Money do resort to the one or the
other side of this main Question； Whether the raising of the
price of Moneys doth really and stably increase the abundance of
Money in any State； or if it do increase the quantity； whether
that increase be not more prejudicial than beneficial to the
Commonwealth？ I intend to handle this Question； and all the
incidents pertaining to it； as exactly as I can。 And
First I purpose to set down the benefits that do grow to the
State by the raising of the Moneys； and the Prejudices that do
grow by the not raising of Moneys： And then I intend to set down
the Benefits that do grow by the not raising of Money； and the
Prejudices that do grow by the raising of Money： The I purpose to
examine； and to answer； or allow the Reasons made on both sides。
And lastly； I intend to set down what Remedies have been
propounded for the avoiding of all Inconveniences which may grow
to the State either by the raising or not raising of Moneys； or
both of them； and to examine the same： And here I must again
require an extraordinary Patience and Attention in the Reader；
because that upon the hinges of this Question； the whole Mystery
of the Government and ordering of Moneys in the Commonwealth is
moved； and the question it self is very intricate and perplexed；
and the Reasons alledged on both sides are full of Subtilty。
Chapter 13
Of the Benefits which do grow unto the State by the raising of
Moneys； and the Prejudices which do by not raising of it。
They which propound to have our Moneys of Gold and Silver
raised to a parity at the least with other Nations in general；
have their aim and scope but upon one only Benefit to redound
thereby to the Common…wealth； which is； the encrease of Money and
the Materials thereof； but with that there are many other
important Benefits concurring； as
First； The encrease of Trade and Manufactures； which are
always best managed； where Money doth most abound。 The venting of
domestical Commodities； for that if our own Moneys be as high in
value； as those of other Nations； our own Commodities must be
vented with them whether we have need of their Commodities； or
they have need of ours； because there will be no Profit to fetch
their Commodities with our Moneys： and again； the