the maintenance of free trade-第6章

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in　the　cause　of　the　inhauncing　of　this　Doller；　which　was　brought　to　35　Stivers；　and　the　yeare　1586；　to　45　Stivers　by　intermissive　Times　and　Valuations　howbeit　at　Stoade；　Hamborough　and　other　places　in　Germany；　the　said　Doller　did　remaine　still　at　32　Stivers　or　two　markes。　And　as　the　said　Doller　did　inhaunce　in　price：　so　did　they　coyne　new　Stivers　accordingly；　sometimes　lighter　in　weight；　and　at　other　times　imbased　by　Allay　or　Copper。　And　yet　in　accompt；　the　Stiver　did　and　doth　remaine　the　ground　of　all　their　monyes。　But　the　said　Doller　holdeth　his　Standard　agreeable　to　the　first　Doller；　which　is　called　the　Burgundian　Doller　with　the　crosse　of　Saint　Andrew　coyned　in　the　yeare　1575　which　is　in　fineness　tenne　ounces；　and　twelve　penny　weight　of　fine　silver；　and　four　and　one　halfe　of　these　Dollers；　were　there　made　equivalent　to　our　20　shillings　Starlin；　as　a　Publicke　measure　in　exchange　betweene　us；　and　the　Low　Countries；　Germany　and　other　places　where　this　Doller　was　currant；　which　made　the　Par　or　price　of　exchange　to　be　24　of　their　shillings；　for　20　shillings　of　ours；　according　to　which　computation；　exchanges　were　made；　alwaies　above　that　price；　both　here　and　beyond　the　seas；　and　the　Stiver　of　the　Lowe　Countries　was　not　in　value　answerable　thereunto；　for　bieng　but　two　ounces　17　pence　with　fine；　their　32　Stivers　for　the　said　Doller；　（which　is　foure　pieces　and　one　halfe　144　Stivers：）　did　not　containe　so　much　fine　silver　in　them；　as　the　said　Doller　proportionably。　But　there　wanted　above　3　shillings　Flemish　in　the　pound　of　20　shillings　Starlin。　　　　　　Those　Dollers　have　since　beene　imitated　and　made　by　the　States　of　the　united　Low　Provinces　in　their　severall　Mintes；　as　also　by　the　Archduke　Albertus　in　the　reconciled　Provinces。　And　the　price　of　them　at　Hamborough；　Stoade；　and　other　places　was　inhaunced　but　one　Stiver；　that　is　to　say；　at　thirty　three　Stivers；　where　the　said　Dollers；　went　in　the　Low　Countries　by　valuation　for　45　Stivers　in　the　yeare；　1586；　at　which　time　the　Par　of　exchange　was　found　to　bee　twenty　foure　shillings　nine　pence　for　those　parts；　and　for　the　Low　Countries　at　thirty　three　shillings　4　pence；　which　was　so　agreed　upon　to　our　disadvantage；　for　according　to　the　saide　4　1/2　Dollers；　at　forty　five　Stivers；　it　maketh　thirty　three　shillings　nine　pence；　but　our　twenty　shillings　valued　at　tenne　Stivers　for　the　shilling；　was　the　cause　that　it　was　put　to　thirty　three　shillings　four　pence。　My　selfe　being　there；　a　Commissioner　appointed　by　the　Councell　Table；　with　Sir　Richard　Martin　Knight；　and　Monsieur　Ortell；　Monsieur　Coase；　and　Monsieur　Valcke；　Commissioners　for　the　States　of　the　united　Provinces。　　　　　　This　Doller　is　since　that　time　inhaunced　to　fifty　two　Stivers　in　the　Lowe　Provinces；　which　maketh　the　price　of　exchange　above　thirty　eight　shillings；　or　rather　thirty　nine　shillings：　and　shall　we　suffer　this；　and　not　alter　our　price　of　exchange　accordingly；　but　be　contented　to　take　thirty　foure　shillings　or　thirty　five　shillings；　and　after　that　rate　undersell　all　the　Commoditis　of　the　kingdome；　and　suffer　also；　（because　of　this　gaine）　our　monyes　to　be　exported；　the　Realls　of　8　to　bee　debarred　from　us　to　bee　brought　in　and　carried　to　other　Countries；　for　bringing　a　losse　to　the　importer；　which　by　inhauncing　of　the　price　of　our　exchange　（and　not　by　inhauncing　of　our　monyes：）　can　bee　easily　prevented？　as　heereafter　shall　be　declared。　　　　　　This　Doller　is　likewise　since　that　time；　more　inhaunced　in　Germany　from　time　to　time；　and　leaving　the　excessive　alteration　in　Remote　places；　let　us　note　the　Valuation　of　Hamborough；　where　it　hath　beene　at　fifty　foure　Stiners　the　Doller；　which　maketh　the　exchange　above　forty　shillings　of　their　money　for　our　twenty　shillings。　And　although　we　have　raised　the　price　of　exchange　from　twenty　foure　shillings　nine　to　thirty　five　shillings　or　thereabouts：　shall　we　rest　here　and　go　no　further？　have　we　reason　to　doe　it　in　part；　and　not　in　the　whole；　according　to　justice；　equality；　and　true　Policy。　And　shall　we　bee　like　a　man；　that　by　halting　in　jest；　became　lame　in　earnest？　I　say　againe；　Absit　ignorantia。　Thus　much　Obiter。

Chapter　II。

The　Causes　of　the　Decay　of　Trade　in　the　Merchandize　of　England。

　　　　　The　Moneyes　of　Christendome；　which　have　their　ebbing　and　flowing；　doe　shew　their　operation　upon　commodities；　making　by　Plenty；　the　price　thereof　deare；　or　by　Scarcity　better　cheape。　And　on　the　Contrary；　by　exchange　we　finde　that　plenty　of　money　maketh　a　Low　exchange；　and　the　price　of　monyes　to　fall　in　exchange：　and　that　Scarcity　of　money　maketh　a　fhigh　exchange；　and　the　price　to　rise；　overruling　both　the　price　of　moneys　and　Commodities；　which　beeing　observed　by　the　great　exchangers　or　Bankerers；　caused　them　to　invent　all　the　means　to　compasse　the　fame；　and　to　rule　the　course　thereof　at　their　pleasure；　having　the　maine　sea　of　exchange；　wherein　the　exchange　of　England　runneth　like　a　River　or　Branche；　and　is　overruled　by　the　generall　Currant；　which　may　be　prevented：　for　we　have　the　head　of　exchange　of　20　shillings　Starlin　for　the　places　where　most　of　our　Commodities　are　sold；　which　will　command　all　the　parts　&　members　of　the　body　of　Traffique；　and　procure　plenty　of　money；　whereby　the　other　cuases　of　the　want　of　monyes　in　England　（as　the　waste　of　the　treasure　and　the　like；）　will　not　be　so　sensible　as　now　they　are；　especially　when　needfull　Commodities　of　Trade；　shal　be　imported　from　some　places；　which　shall　supply　（as　in　times　past）　the　exportation　of　much　money；　when　the　Commodities　of　Russia；　being　Tallow；　Waxe；　Hides；　retransported　into　France　and　Spaine；　did　by　exchange　furnish　the　Realme　with　Wines；　Corints；　Raisons　and　the　like　Commodities。　　　　　　The　Want　of　Money　there；　is　the　first　cause　of　the　Decay　of　Trade；　for　without　money；　commodities　are　out　of　request。　And　when　they　fall　againe　into　Permutation　or　Barter；　Traffique　is　subject　to　the　necessity　of　Merchants；　which　tendeth　to　the　destruction　of　ne　commonweale；　and　to　the　inriching　of　an　other。　And　this　is　effected　by　the　exchange；　as　the　grave　and　wise　Cousellors　of　State　before　mentioned；　have　very　well　observed；　whereof　Aristotle　and　Seneca　could　take　no　notice　in　the　infancy　of　Traffique；　which　maketh　me　to　forbeare　to　alleadge　their　opinions　and　definitions；　howbeit　Commercium　is　quasi　Commutatio　Mercium；　which　the　said　Author　would　turne　againe　by　a　change　of　wares　for　wares；　and　ot　money　for　wares。　No　marvell　therefore　that　hee　doth　invert　things　and　runneth　into　a　Labyrinth　without　distinction；　betweene　the　thing　Active；　and　the　Passive；　by　approoving　Money　to　bee　the　rule　and　square；　whereby　things　receive　estimation　and　price。　And　yet　commending　the　Commutation　before　Money　was　devised　to　be　coyned。　　　　　　Aristotle　saith；　That　Action　and　Passion　are　meerely　Relatives；　and　that　they　differ　no　more；　then　the　way　from　Thebes　to　Athens；　and　from　Athens　to　Thebes。　We　will　therefore　leave　this　Merchant　to　walke　betweene　both　untill　hee　can　discerne　the　one　from　the　other。　And　then　he　shall　finde；　that　as　the　Liver　（Money）　doth　minister　Spirits　to　the　heart　（Commodities；）　and　the　heart　to　the　Braine　（Exchange：）　so　doth　the　Brayne　exchange　minister　to　the　whole　Microcosme　or　the　whole　Body　of　Traffique。　Let　the　heart　therefore　by　the　liver　receive　his　Tinctured　Chilus　by　his　own　mouth　and　stomacke；　and　the　blood　full　of　Spirits；　shall　fill　all　the　Veines；　and　supply　the　want　of　monyes。　The　easie　course　and　recourse　of　whose　exchange；　shall　bring　all　things　in　time；　and　serve　all　mens　turnes。　For　even　as　there　are　two　Courses　observed　of　the　Sunne：　the　one　Annual；　and　the　other　by　dayly　declination；　rising　and　going　under：　even　so　much　wee　observe　in　exchange　two　Courses；　the　one　according　to　Par　pro　Pari；　or　value　for　value：　the　other　rising　and　falling　from　time　to　time；　as　wee　have　already　declared。　　　　　　The　second　Cause　of　the　decay　of　Trade；　saith　he；　is　Usury；　meaning　Usury　Politicke；　wherein　he　is　prevented　to　speake；　because　of　a　Treatise　made　against　Usury　by　an　unknowne　Authour；　and　presented　to　the　last　Parliament；　for　whom　he　taketh　great　care；　that　hee　be　not　abused　as　Virgill　was　by　proclaiming　too　late；　Hos　ego　versiculos　feci；　tulit　alter　honores。　True　it　is　that　the　said　Authour　doth　not　attribute　unot　himself　the　makeing　of　verses：　but　taketh　the　whole　substance　of　his　discourse　out　of　other　mens　workes；　published　above　twenty　yeares　since。　Turpe　est　Doctori；　dum　culpa　redarguit　ipsum。　Cato。　　　　　　Usury　in　a　Common…wealth　is　so　inherent；　and　doth　properly　grow　with　the　decay　of　Trade；　as　Pasturage　doth　increase；　with　the　decrease　of　Tilling。　Albeit　in　some　respects；　Trade　is　increased　by　monyes　delivered　at　use　or　interest　upon　occasions；　when　the　Usurer　is　glad　to　finde　a　taker　up　of　his　monyes；　and　doth　pray　him　to　doe　the　same；　by　reason　of　the　abundance　of　money；　which　maketh　the　price　of　Usury　to　fall；　more　then　any　Law　or　Proclamation　can　ever　doe。　So　that　to　abate　the　Rate　of　Tenne　upon　the　hundred　to　eight　（as　the　saide　Tract　against　usury　would　have　had　the　Parliament　to　do：）　will　be　effected　or　course；　which　alwaies　hath　the　greatest　command。　　　　　　This　doth　also　much　prevent；　that　the　Rule　of　Concord　and　Equality　is　not　so　soone　broken　and　overthrowne　in　Common…weales；　some　growing　very　rich；　and　others　extreame　poore；　not　able　t