THE CIRCLE OF COMMERCE OR THE BALLANCE OF Trade, in defence of free Trade: Opposed To Malynes Little Fish and his Great Whale, and poized against them in the Scale. Wherein also, Exchanges in generall are considered: and therein the whole Trade of this Kingdome with forraine Countries, is digested into a Ballance of Trade, for the benefite of the Publique. Necessary for the present and future times.

By E. M. Merchant.

Prov. Cap. 26. Vers. 4. and 5.

Answer not a foole according to his folly, least perhaps thou make thy selfe also like to him. Answer a foole according to his folly, least peraduenture hee be wise in his owne eyes.

LONDON, Printed by Iohn Dawson, for Nicholas Bourne: and are to be sold at the Royall Exchange. 1623.


A Great Grande of Italy, Right Honourable, de­lighted much in the delightfull skill of Picture; sent a Cour­tier in post haste to all the principall Ci­ties thereof, to take a touch, of the rarest and best Masters in that Science, for his choyce of some rare and exquisite Piece. The Messenger posting from place to place, and getting of every one some­thing, at last found out Giotto, a very fa­mous [Page]man, and second to none of his time in that skill; as Angelus Politianus thus saye's in his praise,

— Per quem pictura revixit,
In Epitaphi­um Iotti. Peachams Compl. Gent. Cap. 12.
Cui quàm recta manus tàm fuit & facilis:

Of him I say, this Messenger desired, as hee had done of the rest, some Master Piece, to present vnto his Lord and Ma­ster. Giotto, willing to shew the dexte­rity of his Art and wit, and the facility of his hand, call'd for a sheet of paper, and in the turning of an hand, drew a Circle so perfect and exact; that it was impossible for any man living, to circi­nat, or circulat, with the helpe of a Com­passe, a more absolute Orb. The Cour­tier not being an Artist, ask't if that were all: yes said Giotto, and it may bee, more then all. And so indeed it proov'd. For when the Messenger had presented to his Lord and Master all the Pieces, Giotto's Circle was preferr'd to all the rest, and hee honoured aboue the rest: and thence it went into a Proverb in Italy, Piu tondo ch'il Circolo di Giotto: more round then [Page] Giotto's Circle. Others, My Lord, may pre­sent vnto Your Lordship, Little Fishes, Great Whales, Par's of Exchange, Pieces of greater price; I haue nothing but a Circle: not [...], the Circle of learning; but the Circle of Commerce: yet such a Circle, as com­prehends within the Periphery, or circum­ference thereof, the Ballance of Trade. There's my draught: or rather My Lord, it's Yours.

For although the Ballance of Trade, is an ancient Piece, which in elder times, hath beene in great vse in this Kingdome, as I shall shew in this Circle, in it's owne An­gle: yet it was almost worne out and de­faç't, but renew'd and refresh't by none, but by Your Lordship onely. When the Eye of Heaven, in the Eye of the King, had look't vpon You, and pickt You out, and plaç't You in an higher Orb; You were first seene in this Circle, of the Ballance of Trade: Other faire Pieces You had, but this was Your Master Piece, because all the rest had reference vnto this. For all your servi­ces done to The King, and in The King, The [Page]Kingdome: of what Longitude, or Latitude soever those Pieces were, you tryed them all by this Scale: You discerned the Right from the Oblique, by this Circle, by this Pa­rallel.

The Oracles of Apollo, being ask't when the warres of Greece should haue a Period, Replyed, when they could Double the Cu­bique Altar in Delphos: which Plato expoun­ded to them, to be an answer in reproof of their ignorance in Geometry. For the Doubling of the Cube in Solids, P. Ramus Geom. lib. 4. and the Qua­drature of the Circle in Plaine, is a Mathemati­call probleme, not to bee knowne without the knowledge of that Art. And sure­ly if any man aske, when we shall haue an end, of this decay of Trade: it may be answered, when Your Lordship will Double this Cube, and Quadrat this Circle of Commerce in the Ballance of Trade. Which prooue's a Hercules labour vnto Others, but will be easie vnto You: because You see with Your Owne; They with others eyes.

And hence it is that wee here below, [Page]haue had so much stirre, about Malyne's Par: the Parity and Disparity whereof, a­mongst ignorant men, is made a Mystery in Exchange, and to haue in it a great deale of Causality of the Decay of Trade. But we are happy in Your Lordship, which can easi­ly discerne this Flemish, from our Sterling Standard. No glosse, no false face, can deceiue Your Lordships sight. For as You were Of vs, and now You are farre Aboue vs: so can You iudge, as farre Beyond vs, as You are Distant from vs. I shall therefore bee a Suitor to Your Lordship, that if there be any place or vse, in the whole Circle of Commerce, for Malyne's Par of Exchange, that Your Lordship will let him bee the Master of that office when it is Created: if not, that Malynes may know the price of these paines, to teach vs a new doctrine, which we never learnt of Your Lordship: and with such counterfeit stuffe to abuse The State, which happely doth enioy Your Lordship, and in You the knowledge of Commerce.

Your Ballance of Trade, my Lord, will [Page]soone discover the lightnes of this va­nitie. That, not This, was Your [...], let it bee Your [...] also. That was the Foundation, let it bee the Consummation of Your Noble building. Let none build vpon Your Lordships foundation, finish it, perfect it Your Selfe, Your Selfe shall haue all the honour.

Goe on therefore Noble Lord,

Spartam quam nactus es constanter tueri.

You are the Mirrour of Merchants, the Lu­ster of London, the Renowne of your name, the Beautie of Your Familie, the Glorie of Your Countrie, an Honour to Nobilitie, and the Choice of the Choicest King. Honour His choice, in the choicest service, You can doe, to So Good, to So Great a King. Adorne the Nobilitie, doe good to Your Countrie, Embellize Your Familie, make Your Name more and more Noble, loue London, and make much of Merchants.

And I pray God, with encrease of Ho­nour, giue you encrease also of the gifts and graces of Gods Spirit: without [Page]which You can doe none of these: and with which, You may doe So and So, and More also.

The Lord of Lords, giue You fauour with God and Man, and conserue Your Lordship long, Regi, Gregi, mihi; to The King, The Kingdome: And last of all, to him that's least of all,

But Affected most of all, to doe your Lordship seruice, EDW. MISSELDEN.

TO THE GENTLE AND Iudicious Readers.

GEntlemen, I had hop't, in a cause of such conse­quence, as is the Re­stauration of Trade, wherein all of vs by Sympathie haue our part, and feele the waight; the very Vinculum amicitiae, would haue knit vs all together, in that same Idem velle & nolle, to haue beene all of one minde for the Common good. Or if I had therein seemed to any of you, more for­ward then wise, you would haue hid that fault vnder your good interpretation of my zeale for the pub­lique, wherein all of you haue your interest: And that every one of you would haue beene more readie, to haue lent mee a supply in your confirmation, then a [Page]reply by way of refutation: that so Iunctis ope­ris, wee might all of vs haue essayed to repaire the decay of Trade, none to ruinate. Nor indeed can I so say of any of you: for Malynes is with vs, but he is not of vs: if hee had beene of vs, hee had not beene against vs, in the Common-good. You know, it is the Counsell of The King of Coun­sell, to beware of those that come to vs in Sheeps clothing: Malynes would teach our Gentle­men a way how to improue their Wolles: but vn­der that collour, would cozen vs of the Cloth. This is one marke, whereby you may know, hee is not of vs: and if yet you would haue another, com­pare him with his Par: and by these two you shall know him Ex vngue. Two such Pars to Pare away the Wealth, of our Cōmon-wealth, as I haue not observed to be proiected by any in all my time. Him and them I leaue to your Iudgement, when you haue perused this ensuing short Discourse. The charge and trouble whereof, but worth neither, you may thank your selues, to haue drawne vpon you, by your too ready entertainment of such things as these. Hereafter I doubt not, but your experience will direct your acceptance, vnto things of better worth. If not, or if you respect me; I shal expect that [Page]you Paire me with some better Par. In the meane time, I shall presume, that in your interpretation and sentence, you will bee like your selues: and if any thing herein, chance to be lesse pleasing to any of you; that you will be pleased to beleeue, that I may haue some reason also for that, more then was fit to write. Here and there, if you meete with a little Latine, or the like, which you doe not like; let it alone for their sakes that vnderstand it: and if you will take my word, there's sense besides, and not a word of it but of some vse, in the whole discourse: and no more reason to be thurst out of the Circle of Commerce, then out of the Circle of all other sciences, which haue ever enioyed that liberty, with­out exception. God grant that your perusall and my paines, may bring some glorie to God, honour to the King, benefite to the Publique: to all which I am truely deuoted, and therein,

Am all, and every one of yours, E. M.


The Prooeme.

HERODOTVS in his CLIO, reportes that CROESVS King of LY­DIA had a sonne borne dumbe: and his Coun­trey being invaded, and the King himself in im­minent danger of death by a certaine Persian ready to lay violent hands on him; the Kings sonne affected with the present danger, then spake that neuer spake before, and cryed alowd, O homo ne perimas Patrem! O man kill not the King! [...]. Herodot. in Clio lib. 1.

And surely my selfe being conscious of mine owne wants, yet as sensible as any, of the terrors without, and errors within, wherewith the Com­merce of this Kingdome is encountered; layd mine hand on my mouth and kept long silence: [Page 2]because it was a subiect fit for a more able man, and a more exquisite pen: but when I beheld this former flourishing Trade of ours, to be threa­tened by many as eminent as imminent dangers, and the very life thereof to lie a bleeding; whilst I was musing the fire kindled, and at the last I spake with my pen, as I neuer spake before, O homines ne perimatis Patriam! O men kill not the Kingdome!

Or had I still beene silent, and were all men mute, surely the cause it selfe would haue called for redresse: or the stones would haue cryed to the timber, the shippes to the seas, the seas to the shores, one deep to another deep, because it is the complaint not of a common man, but of a Com­mon-wealth; not of a Companie of men, but of a Kingdome.

Things once out of order, repetitis passibus, double their pace, and run hastily vnto ruine. The fire that even now was spyed in a sparkle, hath enflamed the whole Citie, all the Kingdome. The Clowd that ere while rose vp like a mans hand, is spred abroad, and hath ouerspread all our Horizon.

These were the motiues that led me along to that labour, which I lately offered to the honour of the King, and seruice of the publique. There­in I layd a Basis or foundation onely, for a more skillfull worke-man to erect a more stately buil­ding. Mine, was but a modell or frame, rough hewen, slightly set vp and pinn'd together; to try how the parts and joynts thereof would trent [Page 3]and fit the square: that so in due time I might haue wrought ouer, and fitted each part and piece for their place and vse. But now his Maiestie, whose eye is not dimme, and whose hand is stea­die to the going downe of the Sunne; who wa­keth when his subiects sleepe, and whose candle goeth not out by night; who standeth in the Watch-tower all day, and keepeth the Sentinell by night; out of his Princely prudence and pro­uidence and vnwearied watchfulnesse ouer the welfare of his subiects, hath been graciously plea­sed, first, to grant a speciall Committee, as a prepa­ratiue or enquirie; and now a speciall Commis­sion as a wholesome medicine or remedie, for the dangerous disease of the decay of Trade. Which last, it hath pleased his Maiestie to direct to many Noble Personages of dignitie, and other worthie Persons of ranke and qualitie, selected and colle­cted like a Court Parliament, from all the parts and places of the Kingdome.

And that no due information might be wanting, which might conduce to the reformation of so many growing grieuances in Trade, it hath plea­sed the State to honour some men of my professi­on to be ioyned in this Commission, who accor­ding to their choyce and worth, will no doubt in­finitely supply whatsoeuer might haue occurred vnto me, for this seruice. So that now I shall only draw the Circle of Commerce, and contract trade to its owne Center, the Ballance of trade: & leaue those other pieces, vnto these Master-workemen, to be polisht for their vse, in this Royall Edifice, com­manded [Page 4]and commended by his Highnes to their structure. The rather for that heretofore some No­ble & learned in this Kingdome, observing some concurrence in the causes and remedies by mee lately published,In Free Trade. with those of more worthie Per­sons reported to his Maiestie; conceived that their labours had beene published by my pen: where­in, as I must acknowledge the vnworthinesse of my person, to receiue such guests vnder my roofe, and the vnfitnesse of my pen, to represent such pieces; so also had I not the happines to attend Those then, or These since, in any of their assem­blies as did other Merchants; whereby my dis­course might haue receiued some life and force from their worth and influence.

Their good acceptation of my poore endea­uours, together with the approbation of many o­ther Noble and learned, graue and iudicious, is more then I could haue hoped to merit: which wil abundantly support me and it against the Ma­lignitie of one Malynes onely, amongst thousands of better instructed and affected persons. Whose palate being fallen, is become so farre out of taste, that he can relish no meats not cook't by himself; and his owne cookerie hath in it so much of his Coliquintida, his stirre about his Par, that it hath spoiled all his pot of porrage. Himself, his subiect, much more his rude stile, and vnmannerly man­ner of writing, deserue contempt rather then the honour of an answer. But for some Gentlemens sakes of qualitie, to whom I owe my selfe, who doe professe they know not in many things what [Page 5]the man meaneth, for when he that writeth vn­standeth not what he sayes, how shall he that rea­deth? For their sa [...]es I say, not for his, I am I know not how, enclos'd within this Circle, through the Center whereof I will draw a Dia­meter, and diuide the whole Circle into two Semi­circles.

In the first, I will consider, whether Malynes ob­iections scattered here and there in his little Fish, and great Whale, against my Tract of Free Trade, may haue any place within the Peripheria or cir­cumference of this Circle. which if you please, may also be the first part or draught of this Ballance of Trade.

In the other Semicircle, I will demonstrate the nature and vse of Exchanges in generall, and therein the Ballance of the Trade of this King­dome with forraine Countries: which also may bee the second part or draught, of this Ballance of Trade.

But before I begin with either, I am discom­forted in both: Because I am led within the lists, to deale with a dastardly Combatant: of whom Martiall could tell me long agoe, that I might ex­pect conquest, but no contentment:

Seu victus seu victor eris, maculere necesse est,
Si sit cum vili stercore pugnatibi:
Nor flight, nor fight, will bring thee but disgrace,
If that thou fight with one that's vile and base.

Nor can there be any delight to those that are [Page 6]lookers on: for Malynes received my Modell in some forme, but returned it to mee pull'd in pieces, all out of frame. You know I considered Trade, as it is Deformed, as it might be Reformed. Trade Deformed, I considered in the Causes, in the Effects. In the Causes, the Matter and Forme of Trade. The Matter I shewed to be either Na­turall or Artificiall. The Forme occurred in Go­uerned or Vngouerned trade. The Effects reflec­ted on the King, the Kingdome. Trade Refor­med, I presented in the Remedies: to euery ma­ladie, a medicable remedie: and these I pursued every one in their order.

But now these Rankes are broken: this order's disordered: nor Right nor Left hand file is left, nor Front, nor Rere. Now I must follow my Leader: whether you finde Posture or Imposture in his order; t'is his not mine. I shall therefore in this my Semicirculary Angle, or first Draught of my Ballance, first display Malynes Colours; and then pursue his Postures in his owne Disorder. His Colours are set vp in his Title, thus:

The maintenance of free Trade according to the three Essentiall parts of Trafique: namely, Commodities, Monies, and Exchange of monies by bils of Exchange for other Countries.

THE FIRST PART. Malynes obiections refuted.

WHat hope can we haue of this mans Treatise, Section 1. when hee failes in his Title? The Causes of things are wont to bee considered, in the Efficient, & Mat­ter; the Forme, and the End. Some say these cau­ses are either External or Internall. Externall, as the Efficient and End. In­ternall, as the Matter and Forme. All agree in this, that these two, to wit, the Matter and Forme of things, doe constitute their Essence. There is no place in the Essence of things, for any third thing. Commodities and mony, are the Matter of trade: the manner of buying and selling, is the Forme of trade: He that tradeth the Efficient: gaine the End of trade. So that the Matter and Forme of trade, are the Essentiall parts of trade. But if Malynes would make Exchanging of monies to be a kinde of buy-and selling, and consequently to fall within the Forme of trade; or as it is a merchandise to be the [Page 8] Matter of trade, yet here's no third thing to ap­proue his Title.

Yea, but Malynes will haue you take the Head of this his little fish, and the fin or tayle of his great Whale, and put them both together: and then he will giue you an answer past peraduen­ture. Will you heare what he sayes?

Great Whale, Page 500. Concerning the beeing, essence or Existence of things, he wil make no difference betweene natu­rall things, and things artificiall: and so there is but two essentiall parts of Materia & Forma: albeit that some Philosophers haue established three beginnings of Naturall things, Matter, Forme, and Deprivation. The Matter hath no other office or function, but the changing from one forme into another; Deprivation giving an inclination thereunto: for deprivation is an Im­perfection so conioyned to the matter, that with­out her, if shee were separated, nothing would bee ingendered: and therefore in Heaven there is no Deprivation, and consequently no genera­tion, ne corruption. The Forme therefore giveth perfection to the thing and beeing also, and with­out her, the Matter is more imperfect then the eye is without the faculty of seeing, or the eares without hearing. But in Artificials, the beeing hath her parts, as Trafique hath three, namely, Commodities, Money, and Exchange: so other things may consist of more beeings or simples, wherein the termes of Art are not excluded.

COntra principia negantem, minimè disputandum: §. 2. It is against Art to dispute with a man that denyeth the Principles of Art. This sentence shew­eth Malynes grosse ignorance, not to haue learn't to distinguish the Principles of naturall things from their Essence. Wherein first he would make a difference betweene the Essence or beeing of things Naturall, and things Artificiall. And next he confoundeth the Principles of Phisicall or Natu­rall things, with their Essence, as if they were all one.

For although some Philosophers say, that Mat­ter, Forme, and Privation, are the Principles of Na­turall things, yet what is that to their Essence? Therefore to take off this Pterygium or thicke skin from Malynes eyes; we will first consider the Essence of things, and then their Principles.

For the Former of these, there was never any Philosopher, Heathen or Christian, nor any man of Divine or Humane learning, that ever assign'd any other parts then the Matter and Forme, to the Essence of things, whether Naturall or Artificiall. In the Former, we may take for an instance, Man, that Master-piece of Naturall things: Homo conslat anima & copore: A man consists of soule and bo­die. Now the Matter of a Man is a corporeall sub­stance, common to other creatures: but the Forme of Man is his rationall soule: whereby hee diffe­reth from them all. To whose existence no third thing can be added. It is true, that Body, Soule, and Spirit, are sometimes put together in the Scripture: but by Spirit is there meant the fa­cultie [Page 10]of the soule. Which surely that learned ho­ly Apostle did not so conioyne without a mystery. For the word Soule in the holy languages, some­times signifieth the Mortall life, [...]. Anima. and sometimes and more commonly, the Immortall soule. Now as it signifieth the Mortall life, it is common to all o­ther creatures as well as Man. But as it signifieth the Immortall soule, it is propper and peculiar to Man alone. So that by the Bodie, Soule, and Spirit, the Apostle distributes the whole Man into the Body, and the Spirituall soule; to answere that which hee knew the Philosophers called the Ratio­nall soule.

There is also alike Entity or Essence of Matter and Forme, in Artificiall things: wherein Malynes no lesse grosly erreth. The Matter of an House, is stone and timber: the Forme of it, is the fashion or proportion after which it is built. To which no third thing can be added to giue vnto it being. And thence it is that the Logicians say, that Forma dat esse rei, the forme giveth to the thing, the per­fection of beeing: because it giueth the denomi­nation of the thing. For a Man is not said to bee a Man in respect of his matter or corporeall sub­stance: for then a beast should bee a man: but in respect of his Rationall soule, whereby hee excel­leth all other creatures. An House is not an house in respect of the Matter whereof it is made; for then all other stone & timber should be an house: but in respect of the Forme of it, whereby it is knowne to bee a house. And so likewise in the trafique of Merchants, which is also an Artificiall [Page 11]thing, there are no other Essentiall parts, then the Matter and Forme of Trade. The Matter as I shewed before, is merchandize and money, whe­ther exchanged or not exchanged: the Forme is buying and selling, and as we say, chopping and changing of one thing for another: which in one word is called Commerce. Without which there would bee no traffique amongst men, not­withstanding the materials of trade. And thus much briefly for the Essence of Naturall and Arti­ficiall things.Colleg. Conimb. in Phys. Arist. lib. 1. cap. 7. partic. 2. Finitū, infinit. Quiesc. mobile. Par, Impar. Rectū, ebliquū. Vnum multit. Lumē, tenebra. Dextrū, sinistr. Bonum, malum. Mas, soemina. Qu [...]drat. long. Eeodē Cōment. lib. 1. cap. 7. partic. 3.

Now for the Principles of Naturall things, which Malynes cannot discerne from their Essence: Some Philosophers say there is but One, as the Earth, as doth Hesiodus in his Theogonia & others. Some the Water, as Thales Milesius & others. Some the Ayre, as Anaximines and others. Some the Fire, as Hippasius Metapontinus, and others. O­ther Philosophers say there are Ten, as the Pythago­reans, who reduced the whole frame of Nature in­to Decada or Denaria, into Ten coniugations of Principles. All which Aristotle reduceth into Mat­ter, Forme, and Privation: yet so as he excludeth Privation from the Being of naturall things: for thus he saith, [...]. Arist. in Phys. lib. 1. cap. Se­cundū Paciū. 9. Pacii Cōment. in Phys. Arist. c. 8. partic. 20. Idempartic. 17. Privation is not Ens or Beeing, because it is not in the subiect which is made by it. And there­fore Pacius vpon Aristotle thus concludeth: Ma­teria & forma sunt Principia per se, Privatio vero per accidens: There are simply but two principles of na­turall things, to wit, Matter and Forme; but after a sort a third, Privation. Because saith he, dupliciter consideratur forma, quà abest & quà adest: The [Page 12] Forme is considered two wayes, as it is Absent, and there's the Terminus à quo: and as it is Present, and there's the Terminus ad quem: which Absence is nothing else but Privation.

This cannot so well be vnderstood of those that that are not acquainted with these things, as by example: which we will instance first, in some Naturall, and then in some Artificiall thing. The Eye is a Naturall thing, the Matter whereof is an Oculary substance: the Forme is Seeing. Blindnes taketh away the sight of the Eye, and is therefore called Privation of the sight: whereby the first forme of seeing is changed into blindnes. A Ship is an Artificiall thing: the Matter whereof is tim­ber and iron: the Forme is the mould and propor­tion of the Ship. Now if you will breake vp this Ship, and take her in pieces, and thereof build an House, there will be a Privation of the first forme, and a mutation thereof into a second, to wit, of a Ship into an House. So then a blinde man will not say, that blindnes is any part of seeing: and hee is an ill Carpenter that cannot know a House from a Ship: and as ill a Sophister is Malynes, not to discerne Privation from the Essence of Naturall or Artificial things. Which he might haue better vnderstood, if he had beene able to consult with Aristotle, or any of his Interpreters. But alas, how should hee vnderstand him or them, when hee cannot so much as translate a sentence of him out of Latin, much lesse out of the Originall, into proper or significant words? Witnesse these three in his one sentence aboue recited, Established, Be­ginnings, [Page 13]and Deprivation, for Assigned or Constitu­ted, Principles, and Privation. Wherein a smatterer in Art, could not haue showne himselfe so igno­rant. These are this Captaines Colours. His Po­stures follow, I feare Impostures. This for one,

That the Author of Free trade, Epist. p. 2. either ignorantly or wilfully hath omitted to handle the predominant part of Trade, namely the mystery of Exchange.

MEndacem oportet esse memorem. §. 3. If Malynes had not forgot himselfe, hee might haue percei­ued his Par of Exchange put out of the Remedies of trade, in Cap. 7. Fol. 104. of my discourse,Free Trade. cap. 7. with the reasons thereof: and therefore not omitted. Nei­ther was it the scope of my discourse to handle e­uery thing that might occur a mans imagination after Malynes manner; but such things onely as tended to the hinderance of the Trade of the Kingdome, and to present their remedies. Now there being no such Causality nor Remedy, in that his Par of Exchange, as I shall proue anon, there was no more Ignorance nor Wilfulnes in me to passe by that, then all other impertinent things. But it is not strange, that hee traduceth me, when hee dares be so bold with the Nobility of the King­dome: thus,

I haue these forty yeares spent much time and char­ges at the pleasure of great Personages: Epist. p. 6. and nothing did encounter me but ingratitude.

A Very scandalous aspersion layd vpon the Nobility of the Kingdome!§. 4. And it is much more vnlikely for him to deserue, then not to re­ceiue more then his desert of any great Personage. His time and charges if hee hath spent any, are more likely to haue beene spent in proling Pro­iects: and I wish all were so serv'd that follow that trade. Nay will you heare him what he sayes of the whole Kingdome?

The Kingdome of England would haue beene more sensible of the like losse, Little fish. P. 18. if the hostile depredations heretofore made, had not supplyed the same.

VOx profectò pecudis non hominis! §. 5. What, is the man madde? hath he no lesse a crime to ac­cuse the Kingdome with, then with Depredation, with robbing, and pilling, and poling? Its pitty such stuffe as this should passe the Presse. I leaue him and it, to the iudgement and censure of the State. But by this time I hope this Captaines pas­sion's past, and hee come to himselfe: for now he professeth to speake ingeniously, although before hee spake without feare or wit: Now he will dis­course of Merchants, of whose profession him­selfe would seeme to bee, though by vsurpation onely.

To speake ingeniously, P. 4. Merchants cannot enter into consideration of the quantity of forraine Com­modities imported at deare rates, and the home Commodities exported at lesser rates respectiuely [Page 15]in former times: by the disproportion whereof commeth an evident ouer-ballancing of Commo­dities.

Merchants do not regard whether the monies of a Kingdome are vndervalued in exchange, by the inhansing of moneys in forraine parts, where­by our monies are exported, when the exchange doth not answer the true value by bills, and the monies of other Countries cannot be imported, but with an exceeding losse, which every man shun­neth. True it is, that they obserue within the Realme to keepe the price of money at a stand, ac­cording to the Kings valuation: but in forraine parts they run with the streame headlong downe with other Nations, without consideration of their owne hinderance.

Merchants doe not know the waight and fine­nesse of monies of each Countrey, and the propor­tions observed betweene gold and silver: nor the difference of severall standards of coyne: a mat­ter so necessary for them to know, to make there­by profitable returnes of the provenue of our home Commodities, either in Money, Bullion, or Wares.

Finally, Merchants seeking their Privatum Commodum, take notice onely of what is prohibi­ted and commanded: whereas it may fall out also, that to require their opinion for the refor­mation of some abuses, they may bee thought ma­ny times as vnfit, as to call the Vintners to the consultation of lawes to be made against Drun­kards.

A Las poore man,§. 6. how shall hee speake Ingeni­ously or wittily, that hath no Genius at all? His speech bewrayeth his want of wit and ho­nestie. No marvell that in page 64. he confesseth that to the iudicious Merchants, Little fish. P. 64. 48. be knoweth he hath gi­uen cause of offence, to haue written so much in the defence of Exchange: and in page 48. that hee hath made himselfe odious to his owne Nation. It is an ill bird, that foules his owne nest. And surely if Malynes had learn't any good maners, or but com­mon humanity, or had himselfe ever beene Mer­chant, Moderne or Ancient; he would never haue abused so many worthy Persons of that professi­on; of ours, of others, yea of his owne Nation: amongst which as well as ours, that I may giue them their due, there are many learned and ex­pert Merchants, that are asham'd of his ignorance and folly. For who can enter into consideration of the quantitie or qualitie of Commodities, whe­ther natiue or forraine, exported or imported, deare or cheape, comparable to Merchants? And if the Ballancing or ouer Ballancing of trade by the disproportion therof, can be said to be evident to any, surely it can be evident to none more then to expert Merchants. Or who are more quicke-sighted into the values of monies, both domestick and forraine, gold and silver, waight and finenes, then Merchants; whose continuall practice it is, to pry into the price and value of all things? For there is no Merchant of any experience, but as he hath one eye vpon the value of his Commoditie, so hath hee the other eye vpon the money, both [Page 17] Intrinsique, in the inward value or finenes, and Ex­trinsique, in the outward denomination or ac­count as it is currant in euery Countrey, together with the course of Exchange, whither he doth di­rect his trade. Otherwise, if the money rise in de­nomination, aboue it true worth in valuation, and the Exchange also rise accordingly: if this Merchant doe not raise the price of his Commo­dity in due proportion answerable thereunto; he shall bee sure to come home by weeping crosse, how ever hee make his returne, whether by Ex­change; or in Money, Bullion, or Wares. And is it not lawfull for Merchants to seeke their Privatum Commodum in the exercise of their calling? Is not gaine the end of trade? Is not the publique in­volved in the private, and the private in the pub­lique? What else makes a Common-wealth, but the private-wealth, if I may so say, of the mem­bers thereof in the exercise of Commerce amongst themselues, and with forraine Nations? And by your leaue Malynes, who are more fit then Vint­ners, if not to execute, yet to consult of lawes a­gainst Drunkards; or Merchants to vnmaske the mysteries of Mounte-bankes, Iugglers, and Impo­sters of trade? I marvell who made Malynes a Law-maker for Merchants, if he be so ignorant of their profession! Hee should haue beene called, before he came to this Councell. The profession of a Merchant is more noble, then to be so disa­bled and disgrac't by such a fellow as Malynes is. Merchants are of high account in all parts of the world, in times of peace, and in times of warre.

Merchants are wont to be supported of Kings and Princes, cherished of Nobles, favoured of States-men, honoured of all men, disgrac't of none: because the strength of Kingdomes, the revenue of Princes, the wealth of every Cōmon-wealth, hath a Correlation with this Noble Pro­fession.

Merchants are wont to make it their glory, to advance their fortunes, renowne their names, embellize their houses, beautifie their families with the honour of this faculty: and to perpetu­ate the same vnto posteritie, as an hereditary title of honour vnto their name and blood. And this is it, that hath made many houses and families of Merchants famous in forraine parts: and maketh those Common-wealths flourish, where there is such a Spring, such an Of-spring. For where the father doth thus ingenerate his sonne, and the sonne doth not degenerate from his father, there the Estate is kept entire, in it's owne stock: there the Spring doth not spread it selfe into stragling streames: in which their fame is lost, their name put out, the Estate consum'd in ryot: and this is a Common losse vnto our Common-wealth.

Merchants I say, besides their knowledge of Commodities, and the course of Exchanges, and the values, waight, and finenes of monies, and the standards of severall Countries, and their ge­nerall iudgement in all manner of trade; all which are but the elements of merchandizing, and a kinde of inbred knowledge in a well-bred Merchant; are acquainted with the Manners, [Page 19]Customes, Languages, Lawes of forraine Nati­ons, yea with the Religion, Revenue, Strength, and Policy of forrain Princes and States: whence it is, that the States and States-men, Governours, Counsellers, and Magistrates of Venice, Luca, Ge­noa, Florence, the Vnited Provinces of the Low Coun­tries, and many other well governed Common-wealths, are by education Merchants: In so much as I may truely say, and I hope without any suspition or offence, there's none more fit to make a minister for a King, then an expert and iudici­ous Merchant.

But if Malynes hath no more skill of Merchants, how will you take his word for Merchandize? yes, he will shew you that, vnder three simples, simply enough I warrant you: thus,

Commodities, moneyes, P. 2. and exchange of monies may be aptly compared to the Bodie, Soule, and Spi­rit of traffique.

The first, as the Body, vpheld the world by Commutation and bartering, vntill money was devised to be coyned.

The second, as the Soule in the Body, did in­fuse life to traffique by the meanes of equalitie and equity, preventing advantage betwene Buy­ers and Sellers.

The third, as the Spirit and faculty of the Soule, being seated every where, corroberateth the vitall Spirit of traffique, directing and con­trolling by iust proportions, the prises and va­lues of Commodities and monies.

VPheld the world by Commutation: §. 7. admirable O­ratory, and as incomparable a comparison! for the Body without the Soule or life is dead: but so was not Cōmerce in former times without mo­ney: else he had much mistaken his voyage, that when Sir Thomas Mores Vtopia was first discovered, would needs in all haste goe dwell there, because there was such a flourishing Common-wealth without money.

And to speake of the soule, without the spirit, or faculties of the soule, is absurd: for the soule and the faculties of the soule, are inseparable. But before there was any Exchange in monies, trade and traffique did consist in money and merchan­dize, and subsist without it: and so doe the trades of many Countries at this day, which haue no ex­change for monies at all. See another Simile,

Even as money is the square and rule to set a price vnto all Commodities, P. 3. and therefore called Pub­lia mensura: even so is the exchange of money by bills, the publique measure betweene vs and forraine Countries, according to which all Com­modities are bought and sold in the course of traffique.

THe Proposition is true,§. 8. that money is Publica mensura: but the Reddition is false, that the Exchange is the publique measure between vs and forraine Nations, whereby Commodities are bought and sold in the course of traffique. For Merchants, as I haue shewed, doe vse to value the [Page 21]Commodities of every Countrie, by the finenes or basenes of the money of each Countrey, and by their observation, whether the same Commo­dities are in more or lesse request, and not by the Exchange. For it is not the rate of Exchange, whe­ther it be higher or lower, that maketh the price of Comodities deare or cheape, as Malynes would here inferre; but it is the plenty or scarcitie of of Commodities, their vse or Non-vse, that ma­keth them rise and fall in price. Otherwise if Ma­lynes rule were true, that the prices of Commodi­ties should perpetually follow the rates of Ex­change; then Commodities should all rise and fall together, as the Exchange riseth or falleth. But Merchants of experience know, that commonly one Commodity riseth, when another falleth: and that they fall and rise, as they are mor or lesse in request and vse. See yet another dissimilitude,

As the Elements are ioyned by Symbolization, P. 5. the ayre to the fire by warmnes, the water to the ayre by moysture, the earth to the water by coldnes: so is Exchange ioyned to Monies, and Monies to Cōmodities by their proper qualities and effects.

I Would there were a Symbolum or affection in his Elements,§. 9. and not an Asymbolum or disaf­fection or confusion in them, as Du Bartas ob­served sometimes to be in the other: whereof hee thus speaketh,

La terre, l'air, le feu, se tenoyent dans la mer:
De la Sepmaine 1. Iour.
La mer, le feu, la terre, estoyent logez dans l'air:
[Page 22]
L'air, lamer, et le feu dans la terre: et la terre
Chez l'air, le feu, la mer. —
Earth, aire, and fire, were with the waters mixt:
Water, fire, earth, within the aire were fixt:
Aire, water, fire, about the earth did glide:
Earth, fire, water, did in the aire reside.

BVt Malynes hath more skill in Philomythy then Philosophy: §. 10. hee will tell you a tale of a voyage into Barbary, P. 7. where hee learn't so much experi­ence in Navigation, that now he can tell you, that the Rudder of a Ship is the Efficient cause of say­ling.P. 8. Is this man fit to giue his iudgement in mat­ters of waight, and affaires of State, that sheweth such grosse ignorance, in so easie and familiar things? If hee had consulted with a Yonker or Novice that had made but one voyage to Sea, he would haue told him, that the Rudder is the cause of stearing or guiding of the Ship, but the winde of sayling. For a Ship may sayle without a Rudder, as sometimes the East India Companies Ship the Dragon did, a great part of the way from the East Indies: but for a Ship to sayle without winde, it is impossible. For that's Causa sine qua non, as the Logicians speake. Or if hee had well vnderstood the name of the thing, he might haue given a better guesse at the nature and vse thereof: according to that of the Poet, Conveniunt rebus nomina saepè suis: For the Rudder of a Shippe is therefore called Gubernaculum à Gubernando, be­cause it governeth and guideth the Shippe. But [Page 23] Velum, and in French La voile the sayle, is derived à volando, of flying and running swiftly. For a Ship sayling with a great gale of winde, is sayd to fly before the winde. And thence it is that we are wont to say, Avis volat, and Navis volat: the Bird flies, and the Shippe sayles: the one being a pro­per,Calep. the other a Metaphoricall speech. Or Malynes mother tongue might haue taught him so much mother wit, as to haue knowne, that Het Roer van't schip is so called, à Roeren or Rúeren, to touch or stirre a thing, because a Ship feeles the very touch of the Rudder. Which phrase hath in it a fine in­sinuation of the wondrous volubility and facility of turning about that huge and massie bodie of the Shippe, by the touch or stirring of so small an instrument as is the Rudder thereof. And Stieren in Dutch, signifieth to guide or direct a Ship, and Stierman the Pilot of a Ship: none of them to sayle a Ship. But God keepe our Ship of traffique from all such Pilots as Malynes is, least it come on ground.

ANd thus Malynes having abused the termes of Art, which indeed it is not possible for him,§. 11. or a wiser then hee to vnderstand, without know­ledge of the Art it selfe; and improperly compa­red his Par of Exchange like a Parret, to Clocks, and Shippes, and Dialls, and Actiue, and Passiue, and what hee list himselfe; the rest of the pages of his preamble, and of other passages in his Pam­phlet, hee hath stuft with immodest termes of his owne Art against mee. But knowing that I [Page 24]could not touch pitch and not be defiled, nor re­proue a scandalous person without receiving ill language, I shall leaue him and it to the iudge­ment of the wise, having taken it for my direction, Not to answer Malynes in his foolishnes.

In the next place,P. 11. he promiseth to bring to the Anvill, whether the vnder valuation of his Maie­sties Coyne, be the immediate cause of our want of money in England: will you see how hee ham­mers it?

Hee concurreth with me in the price of the Re­all, P. 12. to goe in Holland at 51. Stuyters: in the Rate of Exchange, to come from thence at 33. sh. 4. d. Fle­mish: in the value of the Flemish money, that 5. Reals of 8. make 42. sh. 6. d. in the value of the Sterling mony, that so many Reals make 25. sh. 6. d. that the gaine between Spaine & Holland at those rates is 25. per Cento: that the gaine betweene England and Holland at those rates is 15. per Cento. Yet because he will be adverse in something, he saith,

The 15. in the hundred to be gotten in Holland more then in England, P. 12. is altogether Imaginary and not Reall. For example, let 5. of these Reals of 8. bee bought heere for 22. sh. sterling, and bee transported into Holland, and there buy Commo­dities with the same, according as the price of them is inhansed there; no man maketh any doubt, but that the sayd Commodities are also raysed in price, according to the money inhansed. So that the gaine becommeth vncertaine, for the [Page 25]Commodities may be sold to losse.

IF this were true, that the Commodities in Hol­land were raysed in price according to the value of the money;§. 12. yet this is no answer to the carry­ing out of his Maiesties Coyne. For his Maie­sties Coyne may be carryed out, to bee recoyned abroad in forraine Coyne: and not remitted, nei­ther in cōmodities, nor by Exchange. Others that carry it out to remit it back, doe not respect the prices of Commodities whether they bee deare or cheape, so long as the Exchange affordeth them meanes to returne their money with advantage. But at that time when I wrote, both the Exchange, and Commodities also, did afford encouragement for returnes into England. For the Exchange came then at 33. sh. 4. d. from thence, which is a very low Exchange; and the Commodities of Holland were also low in price. The former no Merchant will deny: The latter you may examine if you please, either in Spices, Silkes, or Linnen cloath, which are the principall Commodities of the Low Countries. But better in the former, then ei­ther of the latter: because Spices, are knowne by their sorts: Silkes, and Linnens, by their goodnes. In Spices, if you will, take Cloues for an instance: which haue gone constantly these three or foure yeares last past at 11. sh. the pound waight in the Low Countries, and at 6. sh. 6. d. and 6. sh. 8 here at London. Take the Medium of this price, which which is 6. sh. 7. d. and that brings out the iust rate of the Exchange at 33. sh. 4. d. The difference of [Page 26]time and waight, is vsually set against the Custome and charges. So then whether you make returne of those 5. Reals of 8. whereof Malynes speaketh, in Cloues at 11. sh. the pound, or at 33. sh. 4. d. by Exchange, is all one. And the like you may finde in the rest: And Malynes also as false in the rest: for thus he goes on,

That the Merchants trading in Spaine, which cause their Reals to be sent from Spaine thither, P. 12. or doe transport them from the Downes, rely wholly vp­on the low Exchange, whereby they are inabled to deliuer their money there by Exchange at an vnder value, in giving there but 33. sh. 4. d. and vnder, to haue 20. sh. sterling paid by bill of Ex­change in England, whereby the kingdome ma­keth good vnto them the sayd 15. vpon the hun­dred.

THen by Malynes owne confession, here's a double encouragement for the carrying a­way of the Kings Coyne:§. 13. One in the high price of the money in Holland; the other in the low rate of the Exchange from thence backe againe for England. But that the Kingdom maketh good vn­to them 15. vpon the hundred, that make home mony from Holland or any other forraine part, at a low Exchange; whereby he would inferre, that the Kingdom therby loseth 15. per Cento, is most false. For the lower the rate of the Exchange is abroad, whereby you would remit home your money for England, the lesse of that forraine money you shall pay for the English money you would re­ceiue [Page 27]at home. And the lesse you pay of the for­raigne money, the more you shall receiue of your owne money: and the more you pay abroad, the lesse you shall receiue at home. And in this case the gaine of the Subiects is the gaine of the King­dome and contrariwise. So that indeed, the losse to the Kingdome, is of the money it selfe that is carryed out, as I haue at large declared in my tract of Trade:Free Trade. cap. 1. the 15. per Cento is gained by them that carry it: the money being abroad, is better remitted for the Kingdome, at a low then a high rate: the prises of Commodities being answe­rable to the rate of the Exchange, alter not the case. So then it followeth, that the gaine in expor­tation of Reals is reall, but Malynes surmises are imaginarie. Will you heare another of his slurres?

This Reall of 8. was valued but at 42. stuyvers, P. 13. when the Par of Exchange was made to be 33. sh. 4. d in the yeare 1586. when Robert Dudley Earle of Leicester, went to take the gouernment of those Countries.

I Thinke Malynes hath told this tale over 1586.§. 14. times, to one or other, and not a word of it true. For in that yeare, when the Earle of Leicester was sent ouer by Queene Elizabeth, into the Low Coun­tries, there was a treatie or agreement made of the rates of their and our monies, indifferently be­tweene either Countrey. Then was it agreed v­pon, that the English shilling should goe current in the Low Countries at 10. Stuyvers, which ma­king [Page 28]20. d. Flemish, produceth 33. sh. 4. d. for 20. sh. Sterling. But that this 33. sh. 4. d. was then or at any time since, set for a Par of Exchange a­mongst Merchants, I might produce more then 1586. witnesses against him. For all the Mer­chants Bookes of his owne and our Nation kept there and here, which are the Records of Mer­chants affaires will testifie, that neither the Ex­change in the yeare 1586. nor at any time since, went constantly at 33. sh. 4. d. but sometimes was higher, sometimes lower then that rate. For this is a custome amongst Merchants, to keepe exactly the rates of Exchanges, for all places every weeke throughout the yeare, from time to time: not on­ly as one or other of them is a taker or deliverer of money continually, but as it is a commendable propertie of a good Merchant, to advise and bee advised of the rates of all Exchanges in all places, from time to time. So that this is Testimonium omni excepsione maius: A clowd of witnesses a­gainst Malynes, not to be denyed. But for want of better proofe, he will giue you a precept,

That the rule is infallible, P. 14. when the Exchange doth answere the true value of our monies according to their intrinsique waight and finenes, and their extrinsique valuation, they are never exported, because the gain, is answered by exchange, which is the cause of transportation.

A Lius peccat, §. 15. alius plectitur: The Stranger com­mits the fault, and Malynes would haue the [Page 29] English punished. A Rule most fallible, most vn­equall! For it is the Stranger that raiseth the mo­ney in forraine parts, and not the English: It is the Stranger that carryeth away our money, and not the English. But it is the English that is here the cō ­mon taker of mony by Exchange, & not the Stran­ger. Now if the gain of the carying out of our mo­ney be 10. or 15. per Cento to the stranger, then the Exchange by his owne rule must bee set so much higher to answer the sayd gaine & to prevent the exportation, and consequently must fall vpon the English who is the common taker thereof. What Malynes comes short in English, you shall have in good Dutch I warrant you. Nay hee will fit you with other feates of Exchange, and Exchangers: as

To lay their money with gaine in any place of the world where Exchange lieth.
P. 16.
To gaine and waxe rich, and never meddle with a­ny Princes Commodity: or,
To buy any Princes Commodity with the Subiects money, and not one penny of their owne, &c.

IF every bird had her owne feather,§. 16. this goose would grase with short wings. All Malynes Pam­phlet from one end to the other, is piec't together with stollen stuffe. So hee began, so hee goes on.In Milles his Customers Reply: in his Epist. ded. p. 5. In Milles his Customers Alphabet and Primer. p. 15. Traffique by nature admirable, by art amiable, stollen out of Milles his Reply. His great comparison of Body, Soule, and Spirit, enspired out of Milles his Alphabet and Primer. And in this place, here's no lesse then 20. pieces together, taken out of an old [Page 30] Manuscript, In a Manu­script of Mo­nies and Ex­changes. p. 12.13.14. which I haue seene in many mens hands in London, the copie whereof I also haue my selfe: whose Originall is therein sayd to bee a Record in the Exchequer of the 28. yeare of Ed­ward the 3. From whence, as also from the for­mer, Malynes hath stored himselfe of all this stuffe, which hee would now faine vent to the world, both in his Little fish, and his Great whale, for My­steries in Exchange. I might be infinite, if I would trace Malynes in all his by-wayes. But to saue that labour, if you will take the paines to compare this his Little fish, with his Great whale, you shall finde it a meere Spawne thereof: This swimming out of That: That swallowing vp This againe: and both, nothing else but a Gallamalfrey, or Dutch Hotch­potch of other mens Cookeries. It's pitty the Presse was opprest with such base stuffe: or the same suffered to bee cast in the face of the world: much more to bee presented to the King, to such a King!

The Second cause saith Malynes, P. 19. of the want of mo­ney in England, is the superfluity of Plate, gene­rally in private mens hands. Here he hath omit­ted to note the great quantitie of silver consu­med in the making of silver threed, spangles, purles, oaes, and the like.

THe causes which I conceived of the want of money,§. 17. Malynes received them from me by or­der, not by number. But for the matter hee obie­cteth to mee of omitting the great quantitie of [Page 31]silver threed, he hath my answere alreadie, that it was improper for me to meddle with any imper­tinent thing, vnles with him I should haue hand­led all Heterogeneall things, out of kinde and out of order, as he doth every where. For this Manu­facture of the silver threed, his Maiesty had setled, before I wrote, and opened the Importation thereof to the Subject, as in former times. And if there be any cause to resume that action, that No­ble Gentleman, who hath bestowed much time and charge therein, will not stand in need of my defence, nor be afraid of his defyance.

The third cause saith Malynes, P. 22. of the want of money in England, is the consumption of forreine Com­modities.

YOu see we are now all in numbers,§. 18. and the cau­ses here pul'd in pieces by Malynes, which I hope he found in some better forme. He profes­seth in his title, that his discourse and mine, are Contraria iuxta se: and yet in this, and all the other causes, he concurreth with me: but goeth over and over the same things againe, to spend time, abuse the Reader, and fill vp the pages of his Pam­phlet with vnnecessary repetitions. And for want of matter, he here maligneth the Merchants-Adven­turers; and accuseth them to be guiltie of the Vn­der-ballancing of Trade, by selling the Cloth and other the natiue Commodities cheape, and bring­ing in Silks, Linnen cloth, Cambricks, Lawnes, and other Commodities deare, whereby the stran­gers [Page 32]Scale is made the heavier, in the Ballance of Trade. Which is a most vniust and scandalous as­persion laid on so worthy a Company, by so vn­worthy a Person. For there are no Merchants of the Kingdome, no dispraise to any, that doe so much improue the price of the Cloth, and the na­tiue Commodities abroad; or dis-improue the forreine, and sell the same so cheape at home, as these Merchants doe. And for bringing in of mo­ney and treasure into the Kingdome, wherein is the benefit of bringing the Trade of this King­dome to an evener Ballance with other Coun­tries, this Company therein exceedeth and excel­leth all other Merchants. Which trade alone hath brought in aboue 200. thousand pounds in Gold since September last. And it were happie for the Kingdome, that if all the other Trades thereof were brought into a Ballance, they could produce such a foot of Accompt, toward the advancement of the Exportation beyond the Importation, as may be found alone in the Merchants-Adventu­rers Trade, But this worthy and famous Societie, needeth not my testimony, nor can his obloquy detract from it, that hath alwaies obtained such honourable approbation of the State from time to time.

MAlynes must also haue a fling at the French Company, P. 15. §. 19. that the Merchants thereof do also hinder the Ballance of Trade, by bringing in wines too deare. But if the rate of the Crowne be risen from 64. to 75. souls in exchange betweene England [Page 33]and France, then our Merchants that deliver their mony here, doe receiue so much the more there, whereby they may afford their wines the better cheape. And if the wines bee bought deare, and our Natiue Commodities sold deare, what doth this hinder the Ballance of trade? And if there were no other cause of dearnes of those or other wines, or other forraine Commodities, then the price they cost abroad, or the vnder valuation of our Exchange at home, which hee so much talkes of here and elsewhere, and is nothing else but a meere Petitio principij, A begging of the question, without any truth or proofe; neither Merchants nor Trades-men could iustly complaine of the dearenes of forraine Commodities.

THe Levant Company also hee will not let passe without some censure:P. 26. §. 20. The restraint forsooth of Corints maketh no Free trade. You may see by this, what freedome of trade it is that Malynes meanes. He would faine haue Corints come in a­gaine in Flemish bottoms, that Strangers might bee imployed, and our owne Ships and Men lie by the walles. That all sorts of men might come into that, and all other Companies, how vnfit soeuer: [...] such men let in, as would let in the Strangers trade with them. The trade of the Levant Company is managed by many graue, expert, & discreet Mer­chants, into whose Society those that are of qual­lity, may bee admitted for a reasonable conside­ration.

The fourth cause of our want of money, P. 26. in Malynes [Page 34]account, is the great want of our East India stock: whereas most men would haue expected, that the ready monies sent in Reals of Plate to make the employment of the sayd trade, should rather haue been mentioned.

THis Company also,§. 21. that deserveth so much pi­tie, cannot escape Malynes envie. For here he endevoureth closely and cunningly to insinuate, that the cause of our want of money is the ready monies sent to the East Indies in Reals of Plate. Wherein the East India Company hath againe and againe, satisfied the State; that first, they carry a­way none of the monies of this Kingdome: next, that they furnish themselues from forraine parts, of all that they send out: and lastly, that they keepe themselves within the compasse of his Ma­iesties gracious grant, having sent out much lesse, even of forraine money then they might, and had need to haue done from time to time. And if it should be granted, that some of that money which is brought in for their vse, might also be brought in for the Kingdomes vse, if their trade were not: yet can it not be denyed, that the increase of the stocke of the Kingdome by that trade, is incom­parably a farre better and greater meanes to bring in treasure into the Kingdome from other parts of Christendome, then the other can bee imagi­ned to hinder the same. And whatsoever is now carryed out by the English, would be carryed out by the Hollanders, if this trade of ours were not.

Wherein, the action it selfe, and the disaffecti­on [Page 35]of Malynes and others of his minde, doe seem to exact from me a word or two of the benefites, that may arise to this Kingdome, by this trade. Those I shall reduce in a word, either to such as concerne the Trade, or such as concerne the Trea­sure of the Kingdome. In both which consists the happines of every Common-wealth. Now the Trade of this Kingdome, may thereby be en­creast, in Stock, in Strength. In Stock: for one hun­dred thousand pounds imployed in that trade, and returned from the East Indies, in Spices, Callicoes, & Indico, besides the hopes of the Persian trade of Rawe Silks, will yeeld Fiue hundred thousand pounds to this Kingdome, in encrease of Stocke. In Strength: for this trade will yearely imploy not so little as Ten thousand tunnes of shipping, and Three thousand Marriners, Carpenters, and other Artifi­cers, in the First Employment out and home: and almost as many more in a Second Employment after they are come home; by way of transportation of these Indian Commodities, from hence into all parts of the world. Which is an excellent meanes to advance our Navigation, and to employ our Multitudes of poore.

The Treasure also of the Kingdome may there­by be abundantly encreast, both in respect of the Revenue of The King, and of The Kingdome. Of The King: in the encrease of Customes, which al­wayes encrease with trade. Of The Kingdome: in the encrease of treasure, which is not as some think caryed out, but rather conveyed in through the channels of this trade. For first, the Treasure [Page 36]exported from hence into the East Indies, is not dig'd out of any Mynes of our owne, but is pur­chased from forraine parts, for returne of such East India Commodities, as the Kingdome cannot spend, and are therefore exported from hence in­to other parts of the world. And next, it must be considered, that if One hundred thousand pounds stocke sent out from hence, purchaseth Fiue hun­dred thousand pounds returnes from the East Indies; and this Kingdome at the most spendeth but one fourth part thereof: all the residue being issued out, must needs procure the Kingdome so much ready money, for returne thereof as the value of the goods amounteth to; or at least, such other necessary commodities for the Kingdomes vse, in stead of that money: For which, either so much money must haue gone out to procure the same, or so much lesse money must haue come in, as those Commodities would amount vnto.

But every one of these particulars would re­quire a more large and serious discourse, then the limitation of my pursuit of Malynes will permit. I shall therefore leave this subiect to him, that hath already so worthily laboured therein: of whom,Mr. Tho Mun in his discourse of the East India trade. I hope it will bee thought no flattery, if I say, that his observation of this trade, his iudge­ment in all trade, his diligence at home, his expe­rience abroad, haue adorn'd him with such en­dowments, as are rather to bee wisht in all, then easie to bee found in many Merchants of these times.

I shall also leaue the action to the Royall pro­tection [Page 37]of his Maiestie, to tender it, as a Elower of his Regall Crowne and dignity. The rather because this also is a Flower, which Openeth with the Ri­sing of the Sunne, and Shutteth when the Sunne-setteth. It is subiect, as all great Actions are, to Frac­tion abroad, to Faction at home. Both and either are evill Engines, to subvert Companyes, yea, Kingdomes also. But when the Sunne ariseth in his glory, all these foggs and mists will vanish away. His Ma­iestie vouchsafed to descend, from his throne of Maiestie, into that late Colloquy with the Dutch: And with the indefessiue paines of his owne Roy­all Person, and the continuall labour of the Lords, hath at last reconciled all the differences with the Dutch: much more will He not suffer any discord amongst His owne. All which Warres and Iarres being husht and over-blowne, and the trade pur­sued with the Grace and Favour of his Maiesty, Good order and government in the Company, and Vnfeigned amitie and vnitie one with another; there cannot but be great hope, by Gods blessing, of a Glorious harvest, from so Gracious a Seed-time: and I hope, that those that haue Sowen in teares, shall in due time Reape in Ioy.

Sr D. Diggs in his Defence of the East India Trade.Ther's a Noble Gentleman of this Kingdome, did once put the Dutch in minde of their owne Embleame, Si Collidimur frangimur, If the Potts knock, they will quickly cracke: It was then taken for another Meridian; but it may serue for London and Amsterdam, and the East Indies also.

But Malynes taketh notice of Master Mun's Dis­course of the East India Trade, P. 27. whereby he is for­ced [Page 38]to confesse, that the employment of the East India Company is very profitable and necessary: That the gaine of the Trade is very good: That thereby the encrease of the stocke of the King­dome is very great: That the same is a meanes to bring in much Treasure: and yet like himselfe, kick's downe all this at once with his foote, con­cluding with this abhominable vntruth, That the vnder-valuation of our monyes in Exchange, P. 28. di­verteth the same, and that the losse thereof is greater to this Kingdome, then all the monies em­ployed to the East Indies commeth vnto. So that this man you see, can Simul sorbere & flare, he can be with them, and against them, and all with a breath.

The fifth cause of the want of money, P. 30. in Malynes Arithmetique, is the Warres of Christendome. Touching the exportation of monyes by the Warres of Christians, P. 31. where he declareth an vr­gent instance, that the Riecks Daller is raised from two markes Lubish to twentie markes Lu­bish in many places of Germany, whereby abun­dance of money is drawne vnto the Mints of o­ther Countries, from all the Mynes and parts of Christendome; herein he is much mistaken; for when monyes are inhansed, they are never car­ryed to the Mints to be converted into other Coine.

OR rather Malynes hath need of an Interpreter,§. 22. to helpe him vnderstand what I haue said in [Page 39]plaine words. For I haue not so much as inferred that which he here concludeth, that the Riecks Daller being inhansed to twentie marks Lubish, is carried to the Mint to be converted into other Coyne. But rather that the Riecks Daller, and o­ther monyes of Germany running there so high, hath drawne over abundance of our money, which hath there beene converted into their Coine. And this, nor he, nor any man can deny. And that the Riecks Daller then went at twentie marks Lubish in Silesia, Austria, and Moravia, and the parts adjacent, both the Souldiers that haue received them so in pay, and the Merchants both English and Dutch, that trade in the Linnens of those parts, will abundantly satisfie any man that doubteth in this matter. In so much as it hath there beene observed for a great indiscretion in the Boores, or Countrey people of those parts, to take the Riecks Daller at so excessiue an high rate in payment for their Linnens, and not to raise the price thereof answerable therevnto. Which hath beene the cause that the Linnens of Germany haue these two or three yeares last, come thence so cheape, notwithstanding the Warres, which natu­rally are wont to make things deare: because they haue beene bought with money given out of so high a rate, and the Commoditie not raised. Which quite overthroweth another of Malynes fallacies, that wheresoever the monyes are inhan­sed, There the Commodities are also raised accor­ding to the money inhansed. P. 12. And as well is he o­ver-seene in Aristotles termes of Action and Passion, thus;

No marvell therefore that he doth invert things, P. 38. and runneth into a Labyrinth, without distinction be­tweene the thing Actiue and Passiue, by appro­ving money to be the rule and square, whereby things receiue estimation and price: And yet commending the commutation before money was devised to be coyned. Aristotle saith, that Action and Passion are meerely Relatiues, and that they differ no more, then the way from Thebes to A­thens, and from Athens to Thebes. We will there­fore leaue this Merchant to walke betweene both, vntill he can discerne the one from the other.

BY Malynes sentence when I speake of money and merchandize,§. 23. and doe not misapply there­vnto his improper and ignorant termes of Action and Passion, I runne into a Labyrinth. Which termes he hath every where worne so thred-bare, that they looke like himselfe. Neither is it possible for any man liuing, to vnderstand what he meanes by them: or to imagine, that himselfe knowes what he would say of them. And I pray you what indiscretion is it, to approue of money to be the rule and square, whereby things receiue their esti­mation and price; and yet commend the Com­mutation of wares for wares, before money was devised.

As for his Quotation of Aristotle, he vseth him, as others whom he abuseth: and vnderstandeth Action and Passion, as well as he did Matter, Forme, and Privation. Alas poore man, how should he vnderstand Aristotle, that hath neither wit nor art? [Page 41]For if it should bee granted that Action and Pas­sion are Relatiues, Yet money is the thing Ac­tiue, & com­modities be­come the thing Passiue. Litle fish. p. 15. The exchange of monies is in effect like the instrumēt that striketh the clock, be­ing therein the thing Ac­tiue: & com­modities and monies are therin become things passiue. ibid. page 6. doe's that prooue money to bee Actiue, and commodities Passiue, as hee here in­ferreth, and elsewhere affirmeth, page 15? And why then doth he in another place say, that the Exchange is Actiue, and Commodities & Money are Passiue, page 6. But that in truth the man knowes not what hee sayes? Or if either, or neither of them were Actiue and Passiue, what is that to the thing here by him brought in question, whether Cōmercium be Cōmutatio merciū or not: A change of wares for wares, or money for wares? As if forsooth hee would haue no difference made be­tweene Money and Commodities, in that his distin­ction: ignorantly supposing in the one, that A­ristotle takes Action and Passion, and the way be­tweene Thebes and Athens to be one and the same thing: and being as farre wide in the other, that Money and Commodities haue in them the affection of Relation, because Action and Passion are Rela­tiues. I will therefore shew him out of his owne Author his grosse ignorance in both.

Aristotle disputing in his Physicks de Agente & Patiente, saith thus: [...]. Arist Phys. lib. 3. cap. 2. In Pacij Cōmēt. in Phys. Arist. l 1. c. 2. part. 10. And although to doe and to suffer were the same, yet are they not so to be vnderstood, as if the reason of their Essence were one and the the same, as is of the garment and ray­ment; but as of the way which leadeth from Thebes to Athens, and from Athens to Thebes. Which Pa­cius would haue taught Malynes to haue vnder­stood, thus; Atqui facere & pati, vel docere & dis­cere, non dicuntur omninò esse idem, seu habere eandem [Page 42]essentiam & definitionem: sed dicuntur aliquo modo esse idem, sicut adscensus & descensus, vel profectio Athenis Thebas, & Thebis Athenas, dicuntur esse i­dem, quia idem est spacium, sed essentiae ratio non est eadem. But to doe and to suffer, or to teach and to learne, are not sayd to bee altogether the same, or to haue the same essence and definition: but are sayd af­ter a sort to be the same, as ascending and descending, or going from Athens to Thebes, and from Thebes to Athens, are sayd to be the same, because it is the same distance, but in respect of the Essence it is not the same thing.

Or if Malynes will not beleeue Pacius, let him heare Aristotle thus expounding himselfe; [...]. In Phys. lib. 3. c. 2. partic. 12. And that I may speake all in a word, neither is the act of teaching and learning, nor is Action and Passion properly the same: But the motion wherein these things are, is the same: for to be the act of the Agent in the Patient, and of the Patient from the Agent, is in reason different. And therefore if Action and Pas­sion, and the way from Athens to Thebes, and from Thebes to Athens be in reason different, then it must needes follow, that Money and Commodities by Malynes owne comparison, and in common sense and reason, are different also. Aristotle will also tell Malynes, It is manifest that Relatiues are reciprocal. It appeareth that they are together in nature. Arist. Categor. cap 7. partic. 16.17. that Money and Commodities are not Relatiues. For the Philosopher teacheth, that [...]. Relatiues must be Reciprocall or of mutuall affecti­on, the one not subsisting without the other: and they must bee both at once, or both together in nature; as a Servant and a Master, or a Father and a Son: for a man cannot be sayd to bee a Master, [Page 43]but in respect of his Servant: or to be a Servant, but in regard of his Master: or a Father, but in reference to his Son: or a Son, but in relation to his Father. Now Money and Commodities are not Re­ciprocall, or of mutuall affection, fot Money may be without Commodities, and Commodities without Money. Nor were they together in nature: for Commodities were in nature long before Money was invented: and it is not the Matter, but the Forme giveth the Denomination of the thing, as the Logi­cians speake.

And thus I haue taken this paines, to walke a little betwixt Thebes and Athens, to shew Malynes the way to either: least when hee should goe to Thebes, he goe with his Owles to Athens.

BY this time Malynes is come to Vsury: which he numbers for the second cause of the decay of trade.§. 24. And although hee concurre with me in this cause also, yet wanting other matter, he must Aut accusari, aut mori: Hee must Maligne, P. 39. or not be Malynes. He accuseth mee to haue taken the whole substance of my discourse, out of other mens workes: and bringeth for his Voucher, his Englands view, worth no mans view, I'le warrant you. Some poore stuffe of his belike hee meanes, so called or miscalled, as his manner is: as if I had supplyed my selfe with matter thence: which, I protest in the word of an honest man, never came to my view, nor ever shall. Neither durst any but Malynes haue found this fault, himselfe so grossely faulty: to whom all's fish that comes to Net. [Page 44]Whose Whale devours all, both great and small, whole sholes of fish: So that he hath caught him­selfe by the nose, and his Turpe Doctori resulteth in his owne face: thus,

Turpe est Doctori, cùm culpa redarguit ipsum:
Quae culpare soles, ea tu ne feceris ipse.
To such a Criple Doctor 'tis a shame,
To censure halting, and himselfe goes lame.

Yet for all that, he will perswade you, he hath some over-sight in Hebrew. For thus he saith,

If the Brokers had beene Iewes, P. 41. I might haue be­stowed some Hebrew vpon them, in detestation of the word Neshech, which is nothing else but a kinde of byting, as a dogge vseth to byte and gnaw vpon a bone: otherwise to vse many lan­guages in a little Treatise of Free trade, may seeme impertinent.

A Las poore man,§. 25. I would he had learnt good English first! But in the best he hath shewne in this Little Fish and his Great Whale, the Reader may perceive great defect, and many of his sen­tences Non-sense. Hee is beholding to the Diuines for translating Neshech into common Characters; otherwise hee might haue saide of it, as some sayd of Greeke in Erasmus time, Graecum est, non le­gitur. But if he had beene but a smatterer in He­brew, hee might better haue vnderstood the No­tation of Neshech, which is commonly taken for the byting or sucking of a Serpent, not of a Dog, as Rabbi Bechai observeth: Because saith hee, [Page 45] [...] Rab. Bechai in Comment. in legem fol. 113. It byteth or sucketh like a Serpent, and is not felt. Whereof the Glosse saith thus: Creditor mordet cùm exigit quod non dedit: Debitor mordetur, cùm reddit quod non accepit: The Creditor is sayd to byte, when hee exacteth that which hee delivered not: And the Debtor is sayd to bee bitten, when hee restoreth that which he received not. Whence it is, I thinke, that our word Snake, by a Metathesis of the letters an­swereth to Neshech. But as for Malynes he doth nei­ther byte, not is bitten of this Seprent. He is as little troubled with that, as he is ouer-burthened with the Hebrew, Greeke, and Latine tongues, and the knowledge of the Arts. That cost hee'll spare, because to vse many languages in a little Treatise of Free trade may seeme impertinent. Wherein hee seemes to checke the vse of tongues in dis­course of Trade: Indeed to vse them as Malynes doth, is to abuse them: for sometimes hee tran­slates them wrong, and somtimes denies the Au­thor of them the honour of his owne. Otherwise the vse of languages is both lawfull and laudable. And thence it is that Bodin, Bodin de Reg. that great Polititian of France, in his bookes De Republica, and therein also of Merchants and Merchandize, doth so oft cite Hebrew, Greeke, and Latine testimonies. The like doth Grotius that learned Netherlander, in his Mare Liberum, his Free Sea trade,Grotius in Mare lib. and other of his Workes. And this did that famous Orator M. T. Cicero, the Master of Eloquence,De Off. lib. 1. both practice himselfe, and command to his sonne: Semper cùm Graecis, saith he, Latina coniunxi: neque id in Philo­sophia solùm, sed etiam in dicendi exercitatione feci, [Page 46]idem tibi censeo faciendum. I haue alwaies, saith the Orator, ioyned Latine with Greeke: neither haue I done that in Philosophy onely, but also in the exercise of declaiming: and the same I thinke fit for thee to doe. Besides it is against the rule of Iustice, that the vse of Testimony should be denyed to any man, in speech or writing. For there is nothing so cleare, but may require Testimony, either for confirmati­on, or Ilustration of the matter, to which it is ap­plyed: And the want of Testimony, is the want of Authority also.P. Ram. de Dialect. cap. 32.33. Now all Testimony may be sayd to be either Divine or Humane. Divine, as the Holy Scriptures. Humane, as the Law it selfe, or Illustri­ous Sentences. The Testimony of Law, is of the Written, or Not written Law. The Testimony of Il­lustrious Sentences, consists in Maxim's, Principles, Proverbs, and the Sayings of Wise men of all Na­tions, and in all Languages. Now you cannot do an Author a greater honour, then to vse his owne words: least in translating of him into another tongue, you translate him also into another sense, as Malynes doth Aristotle. I know it is growne in vse in this Kingdome, to cite in speech and wri­ting, the Translation for the Originall. But surely it is more common, then commendable. Because it tends to the losse of time, and brings no bene­fit to the Auditor to heare a double translation. For if the Text be Hebrew, and it bee rendered in Greeke; or Greeke, and rendered in Latine; or as the manner is, to cite Latine for both; neither the Author hath any honour, nor the Auditor bene­fit, more of the Latine, then of the English, because [Page 47]they are both Translations. And if there be many Auditors that vnderstand not the Originall, so are there not a few, that vnderstand not the Latine Translation also. Which vse of the Latine Tran­slation, hath brought out of vse, the most necessa­ry and learned Languages. Wherein ther's not an Iota in the Greeke, nor a Title in the Hebrew with­out a mystery: In which last and best, our English tongue hath as great a part, as any other Language of the Christian world: which I speake for the ho­nour of our Language, and the encouragement of those that delight in Tongues.

And thus much briefly for Languages, and for defence of those which I haue vsed for divine and humane testimony, which in Malynes sentence doe seeme Impertinent.

THe third cause of the decay of Trade,P. 41. §. 26. in Ma­lynes accompt, are Litigious Law-suits. To the Efficiency whereof, Malynes cannot altogether a­gree, but rather to the Remedie. But I shall willing­ly pardon him that: for he that is so ignorant in the Essentiall causes, must needs be nescious in the Efficients also. I would there were no cause, for their sakes whose case it is, to dispute this Causa­litie. Whereby many of his Maiesties louing Sub­iects are deprived, some of their liberties, I had almost said, of their liues, many of their livings. Wherein I doubt not, but the graue, sage, and lear­ned Iudges, the Reverend Fathers of the Law, will at the last consider, and consult of some effectuall meanes, for shortning of the time of Suits, and [Page 48]lessning of the charge of Law. Amongst whom, double honour belongs to him, that governes so well, and labours so much in the Word and Doc­trine. Good lucke haue thou with thine honour. Ride on, according to the Word of Truth, and moderation of Iustice. The Spirit of Elijah resteth on Elishah: Walke in his Steps, who liuing hono­red thee; and dead, liueth, and is honored in thee: Sic tibi conting at viuere, sic (que)mori.

Malynes in the next place, though in a wrong place, takes occasion to speake of Anno 1588. And denieth that the Kingdome was then in such great distresse, to be termed, in Articule temporis, when the Merchants-Adventurers supplied a Shippes la­ding of Powder and Shot from Hamburgh: I pray God grant we never know the like distresse, nor e­ver be wanting to acknowledge so great a delive­rance.

Malynes fourth cause,P. 42. is the Fishing. Wherein he is better then his word, for he concurreth with me therein also. And is not the neglect of Trade, the decay of Trade? And is not the Strangers pulling the bread out of the Natiues mouthes, the decay of Trade? Therefore proper enough Malynes. But because here he wants fuell for his fury against me, like a mad man he strikes the next man he meets. And no lesse then the State first, and diverse worthy Merchants next.P. ibid. Against the State he dares say, That this Action of the Fishing hath beene in con­tinuall agitation aboue thirtie yeares, to make Busses and Fisher Boates, but the Action is still interrupted, because other Nations doe finde too great favour and [Page 49]friends here, to divert all the good intentions of such as haue imployed their time and good meanes therein. And for the Merchants, hee accuseth the Mer­chants-Adventurers, East-land Merchants, and the Muscony Company, to haue opposed this cause at the Councell board. And as if hee were a Clerke of the Councell, takes vpon him to set downe ten severall articles, which were there had in consul­tation with the Lords.

For his Scandalum Magnatum, I remit that, to his former reckoning; where he hath more then enough to answere. And for his accusation of those worthy Merchants, I am perswaded that, there are none of all his Maiesties Subiects, can be more ready and willing then they, to further so noble a designe.

From the Fishing, hee comes to the Clothing, P. 45. which he desciphers for the fift cause of the decay of Trade. Wherein also hee concurres with mee, notwithstanding his challenge. Neuerthelesse, for want of other matter to fill vp the pages of his waste paper, hee turne's himselfe to the Dying and dressing Proiect: and sayes thus,

I cannot omit to obserue the Practises which were vsed by combination with other Nations abroad, P. 46. and domestique Intelligences at home, whereby many good actions are overthrowne, to the gene­rall hurt, and with little advancement to the par­ticular.

HEre Malynes endevoureth to lay a Tacite and secret aspersion on the Merchants Adventu­rers: §. 28. [Page 50]but not being able to produce any ground for so malicious a scandall, is obnoxious to pu­nishment, and ought to bee taken for the Intelli­gencer himselfe, vntill he produce his proofes for so vniust an accusation.

Another Digression hee makes for the defence of his grosse error committed in his Canker of of Englands Common-wealth:In his Can­ker. p. 46. where he wisht, That other Nations might take vpon them to make our Clothes, which might saith hee, be easily remedied, by selling our wolles the dearer, whereof they must make them. Can there bee any defence for such a defeisance? You shall heare the best he hath,

In the latter time of Queene Elizabeth of blessed memory, P. 47. and vntill the second yeare of our most gracious Lord King Iames, wolles were permit­ted to be transported by the Staplers and others. And the makers of cloth beyond the Seas, must needs haue them to cover their wolles in the In­draping, which is now prohibited, and the case altered.

HEre you see the defence is as lame as the De­fendant:§. 29. Because there was then permitted a tolleration for the transportation of wolles; was it therefore necessary, or reasonable, or to bee wisht of any good Subiect, that there should haue been a transportation of our Clothing also? Or would hee haue had the Staplers carry away all our wolles, that his Countrymen might haue made all the cloth? God forbid Malynes! Sic tu be as [Page 51]amicos? Wilt thou play the Ape in the Apologue, & kill vs with kindnes? But the tree cannot be better knowne then by the fruit; nor Malynes, then by this marke. This is he that would seeme so good a Subiect to our King and Kingdome, to dyet vs with the Fleece, and to feed his owne Country and Nation with the Flesh and Fat: to confine vs to the Wolles, and convey our Clothing to them, then which there is not a more Royall manufacture in all the world. There could not haue beene devi­sed, no not by an enemy, so mischievous a proiect, as to bereaue so many thousand families of this Kingdome, that depend on the making of cloath, of such an excellent living and liuely-hood. The other part of his defence, is as false, as the former is faigned. For to affirme, That the Makers of cloth beyond the Seas, cannot make their cloth with­out our English woll, is as true as that, wherewith the State hath beene so much abused, That the Dutch could not subsist without our English cloth. That the latter is false, our owne ill experience can tell vs: That the former is foolish; all Malynes Countrymen, and those that know the State of Dutch-land, will witnes against him. But because hee cannot Excuse, hee will Accuse: First Envy, P. 48. For looking asquint vpon him: whereby he saith, he hath lost one Eye, in his reputation with his owne Coun­trymen, and now must loose the other Eye with our Na­tion, like Belisarius mentioned in my discourse. Indeed in blindnes hee may resemble Belisarius, but in nothing else: more like hee is to blinde Bartelmeus, who the more he was forbid, the lesse [Page 52]hee held his peace. And next hee accuseth his ill luck,P. ibid. For his invention of farthing tokens: for which he saith, He is accused to bring the vse of copper monies into the Kingdome. But he mistakes the accusation, which was rather, that if not himselfe, some fowle of his feather, might be vehemently suspected, to haue brought in counterfait copper tokens into the Kingdome. Which whether it bee right or wrong, I cannot tell, but it is probable, that the tenth part of the copper tokens at this day in the Kingdome, were never coyned in the Kingdome.

At last hee is return'd from these long digres­sions, to the thing proposed, which is the Cloth trade: but with a change of his note and his coate too. For now hee begin's to personate o­thers. Now you may heare a song of foure parts: but set by a very ill Musition, one that knowes not his Gammuth, nor can proue a note, not keepe tune or time. You may heare the very voyce of the Strangers, of the Staplers, of the In­terlopers, and of the Ports; all in one Noyse, & the poor Merchants Adventurers are made the burden of the song. I am sory for them all! For These, that they are so vniustly accused: For Those, that their complaint is so much abused. For thus Malynes canteth and chaunteth,

That the Merchants Adventurers having ingrossed into their hands, P. 50. by colour of their last Letters Patents, the sole power of exporting all white Clothes, coloured Clothes, Kersies, Bayes, Sayes, Serges, Perpetuanaes, and all other new [Page 53]Draperies, into Holland, Zealand, Brabant, and other parts of the low and higher Germany, hath abated the trade. For all Merchants-Strangers, might, and did heretofore export white Clothes out of the Kingdome, paying double Custome, which now they may not.

THe Divines say, Consuetudo peccandi, tollit sen­sum peccati: The custome of sinning, §. 30. taketh away the sense of sinne. This man hath vsed himselfe to such liberty of speech, that now he dare's say any thing.

For the Merchants Adventurers, vpon whom it hath pleased his Maiestie out of His singular Grace and Favour, to conferre many excellent Priviledges and Immunities, in their last Letters Patents: yet in poynt of exportation of White and coloured Clothes, Kersies, Bayes, Sayes, and other new Draperies of the Kingdom, there is no more power given them in these latter, then his Maistie and his Royall Predecessors haue honoured them with, in other former Letters Patents, from time to time.

In the eight yeare of Hen. 4. the trade of White and coloured Clothes, Kersies, Bayes, Sayes, and other the Natiue Commodities of the Kingdome, into Hol­land, Zealand, Brabant, and Flanders, was entrusted vnto them, by the Kings Letters patents, to bee managed vnder government. In the first yeare of Hen. 5. the sayd Letters Patents were approoved and confirmed. In the eight yeare of Hen. 6. the former Charters, with the consent of the Lords [Page 54]Spirituall and Temporall in Parliament assem­bled, were accepted and allowed. In the second yeare of Edw. 4. the sayd Letters Patents and eve­ry part of them, were ratified and confirmed. In the first yeare of Ric. 3. the sayd Letters Patents were approued and confirmed. In the twentith yeare of Hen. 7. the sayd Merchants were honou­red with the title of Merchants Adventurers, & had power to keepe their Courts, and hold their Marts in the Towne of Calais. In the fourth yeare of Hen. 8. the sayd Letters Patents in all poynts were ratified and confirmed. In the first yeare of Edw. 6. all the former Patents were recited and approued. In the first yeare of Philip and Mary, the sayd Let­ters Patents were examined, allowed and confir­med. In the second yeare of Q. Elizabeth, of e­ver-living memory, the former Patents were reci­ted, approved, and enlarged. In the sixt yeare of her raigne, their former Charters were reviewed, and they were inscribed by the name of Merchants Adventurers of England, and authorized To exercise their government in any part of the Kingdome, to haue a Common Seale, to be a perpetuall Succession, to pur­chase lands in the name of the Company. In the 28. yeare of her raigne, their Charters were againe re­viewed and confirmed, with power To keepe their Courts, and To exercise their trade as amply in Ger­many, as before they had done in the Low Coun­tries: And straightly forbad, vpon paine of for­feitures and imprisonment, all others of her Sub­iects not free of the sayd fellowship, to trade into any of their said Priviledged places. In the second [Page 55]yeare of the happy raigne of our most gracious Soveraigne Lord The Kings Maiesty, the former Letters Patents, Priviledges, and Princely grants, were recented, revised and ratified. And last of all in the 15. yeare of His Maiesty, the sayd Letters Pa­tents were againe perused and approved, Where­by it is manifest that the Cloth, and other The ma­nufactures of this Kingdome, traded into Germany, and the Low Countries; haue with the favour of the State, bin conferr'd on the Merchants Adven­turers, not only by their last Letters Patens, but by many other former grants before recited. Which certainely had never beene so long continued, so often renewed, nor they so much cherished, had not the trade of Clothing bin quickned & enlive­ned, by the prudent ordering of the Merchants Adventurers trade from time to time. And these things I haue not by heare-say or relation, but by mine owne collection, and observation; having had occasion to take some speciall paines in the perusall of these particular grants, for the service of the State.

And whereas Malynes suggesteth,P. 50. That all Mer­chants Strāgers might, & did heretofore export white Clothes, That is as farre from truth as the former. For whereas by the Statutes of the 3. Hen. 7. the 3. of Hen. 8. and the 20. and 23. of the same King, it is enacted, that no white Clothes might bee transported rough, aboue 40. sh. a Cloth in the time of Hen. 7. and 4. marks, and 4. li. a Cloth, in the time of Hen. 8. it came to passe, by the discreet carryage of the Cloth-trade in the Merchants [Page 56]Adventurers hands, that the trade of Cloth thri­ved so fast, and the prises of Clothes risse so much, that few or no Clothes could bee shipped out by any, whether English or Stranger, but by a Non obstante to the sayd Statutes: whereupon spe­ciall Licences were granted from the State, as Q. Eliz. free licence of Thirty Thousand white Clothes a yeare, to the Merchants Adventurers; and other licences to the Earle of Cumberland, and others. But when any question arisse vpon any of them, they were restrained to the Merchants Adventurers onely.

If Malynes had sayd, that the Merchants Stran­gers might heretofore export White and coloured Clothes drest, Kersies, Bayes, Sayes, Perpetuanoes, and other the New Draperies of the Kingdom, into the Merchants Adventurers priviledges, paying Stran­gers Custome, hee had sayd true: And so they either doe, or may doe now; and perhaps for lesse then Strangers Custome also. And therefore the Merchants Adventurers haue not the sole power of exporting those things, as is mis-inform'd and mis-affirmed also. You haue heard Malynes plaine song, will you heare his descant?

The Merchants of the Staple, from all the Staple Ports, P. 50. as London, Westminster, Bristoll, South­hamton, Hull, Boiston, and New Castle, haue heretofore exported either Cloth, or Woll, or both, which now they may not.

THe Merchants of the Staple never shipped any Clothes at any time as Staplers, § 31. but as Mer­chants-Adventurers. [Page 57]And so they may doe still, such of them as are free of the Merchants-Adven­turers Company, whereof there are many.

But this poynt having of late vpon occasion, been resumed into the consideration of the State, it was boldnes for Malynes to meddle therewith, and to make question of that, which is out of question, in the iudgement of all indifferent men. Or will you heare his voluntary?

All other Merchants at large, as well at London, P. 50. 51. as all other parts of the Kingdome, haue vsually heretofore exported coloured Clothes, Kersies, Bayes, Sayes, Serges, Perpetuanoes, &c. which now they may not. So that all the trade of the Merchants of the Staple, of the Merchants Strangers, and of all other English Merchants, concerning the exportation of all the Commodi­ties made of woll, into those Countries, where the same are especially to bee vented, is in the power of the Merchants Adventurers onely: and it is come to be managed by 40. or 50. per­sons of that Company, consisting of three or foure Thousand.

IF there be three or foure Thousand of the Mer­chants-Adventurers, § 32. then certainely there is the lesse need of more helpe. And if there be so ma­ny of them that forbeare, and so few that trade, then there will be but cold comfort for new men to begin, where the old haue left. It is true, the number of the Merchants-Adventurers, is very [Page 58]ample and great, consisting of divers worthy members, of London, and of all the Ports, and of the Staplers Company also; who both doe, and may trade with them at their pleasure. But it is as true, that the trade, through the late distur­bance of it, the great quantities of Cloth made in forraine parts, and the too heauy charge fallen vpon the cloth, is become so poore and leane, that there is now no comfort in the world in it, for new nor old. But it is most false, That 40. or 50. persons manage that trade, when there is at this day more traders, then can well liue one by ano­ther. And that the trade of Coloured Clothes, Ker­sies, Bayes, Sayes, Serges, Perpetuanoes, &c. is not in the power of the Merchants-Adventurers onely, I haue already declared, in the Section going be­fore. But he that can talke at large thus in grosse, can doe it also by retayle. Thus,

Nay one man alone, P. 51. hath compassed into his hands the whole trade of coloured Clothes and Kersies for these parts, by the meanes of Exchanges and monies taken vp at Interest.

THat one man which Malynes out of malice picks and points at,§ 33. is indeed an ample tra­der in Coloured Cloth, but not in Kersies: yet so, as there are very many others of the Company, that are also traders in Coloured Cloth, as well as hee. Malynes may barke, but he cannot bite. It is not Malynes Malignitie, that can detract any thing from the worth of so worthy a Merchant. Who, [Page 59]because he comes within my Circle, I can doe no lesse, then deleat and blot out Malynes Oblique line, and giue him his Right and direct line: that is, that hee containes himselfe within his owne Circle, his Compasse, his Course, his Calling, with great iudgement and discretion, faire and Merchantlike action. But because, for some rea­sons, I may not say of him what I might; I shall wish what I ought, that wee had more such Mer­chants, no more such Malynes. From him Malynes turnes himselfe againe toward the Merchants Ad­venturers, and vpbraideth them,

To haue borrowed 50. or 60. Thousand pounds at vse, for the service of the Company, P. 51. and thereby engaged the trade, and set themselues in debt.

TTantúmne est ab re tua otij; tibi, aliena vt cures, eaque nihil quae ad te attinent. § 34. Teran heaut. This man cer­tainely hath nothing to doe of his owne, that is so busie in other mens affaires. It is true that the Merchants-Adventurers trade is ingaged in a great summe of money: yet not for the service of the Company, but of the State: and therefore it is a very audacious part for a man of his qualitie, to cast such a calumny, in the face of so worthy a Company. It were a great happines vnto that trade, and other trades also that depend on it, that some good means were thought vpon, either that which hath beene proposed, or some such o­ther as might be thought more fit in the wisdome of the State, for case therein: whereby the Trade [Page 60]of Cloth, and the Traders therein, both Clothier and Merchant, might be more encouraged. The Merchants-Adventurers haue strugled much to lessen this charge, even with the withdrawing of pensions and deserved stipends from many: which alas, is like a drop of water to the Ocean: And as it can conduce little to the case of so great a charge, so may it much hazard the honour and reputation of the government of so famous a fel­lowship in forraine parts, which heretofore hath shined in the eyes of Strangers aboue all other Nations. Wherein also there's a relation to the honour of the King, and Kingdome: both which are represented vnto Strangers in forraine parts in their government: and therefore it's pittie that those that therein haue excelled others, should now be inferiour vnto all. Neither doth this man so much as spare his aspersions from the Clothier: for thus he saith,

This small number to mannage so great a trade, P. 51. incourageth the Clothier to adventure to make false Cloth, because it is impossible, that so few Merchants can search and vifit every Cloth, as it ought to be done, and the Clothiers conscience is satisfied, for hee saith, that the falsest Cloth is answerable to the best price.

VTquisque est vir optimus, ita difficilime esse alios Improbos suspicatur. § 34. Cic. ad Quint. If Malynes were good himselfe, hee would thinke better of other men. I cannot thinke there is any Clothier so bad, that would speake so ill. Ill will speake's well of none: nor Malynes of Merchant nor Clotheir. For [Page 61]it is not the small or great number of Merchants that incourageth the Clothiers to make false cloth, but meerely the want of execution of the Statute,Free trade. cop. 2. and 7. of 4. of the King, enacted for clothing, as I haue else where shewed at large. Now the Statute provideth, that cloth bee searcht wet and not dry, as it commeth out of the Mill, and not as it com­meth to the Market. And therefore the wisdome of Parliaments hath appointed the search to bee made, where the clothes are made. So that if the search be neglected there, it is not the multitude of Merchants, that can help the search, or indeed try the search as it ought to be. For in the winter time, the season of the yeare will not afford drying for the tenth Cloth, to be wet and dryed againe for timely exportation. And should the Clothier bee detained from his money, and the cloth from the market, till such a kinde of vnkindly search or re­view were made, both Merchants and Clothiers would soone be a weary of such a tryall. Neither is there any necessitie for the Merchants to make this review, for then the great numbers of the Clothworkers in London, that are set a worke by the Merchants-Adventurers to visit their Clothes, would lose their employment. So that if Malynes had sayd true, that there wants Merchants, yet there's no want of Clothworkers to performe this worke.

Many other things hee speaketh at Random of the Clothiers, of the Ports, of Chapmen, and others, as generally he doth throughout the whole scope of his booke, which deserue not repetition, much lesse the honour of an answer; and concludeth these digressions thus,

Shall this be proclaimed a free trade,P. 53.when within our selues we are in bondage, and haue lost the benefit of the two essentiall parts of traffique, namely, the rule of money and Exchange?

And a little after,P. 54. The Merchant Staplers haue observed that the Merchants Adventurers haue an inevitable opportunitie of combination, to set what price they please vpon Cloth to the Clothier, of Woll to the grower, and of all Com­modities exported and imported.

ASpis à vipera venenum mutuatur: § 36. Malynes calls the Staplers to witnes against the Merchants Adventurers: when hee and they are both their profest Adversaries. But for the accusation, no Subiects, I dare say, of this Kingdome, are more free of these crimes, then the Merchants-Adven­turers: neither haue they any opportunity of such combination, as is most vntruely suggested. For there are no Merchants of the Kingdom, that doe more bid, and out-bid one another at the market, then they. If they did trade as some Mer­chants doe, in a ioynt stock, there might be some suspition of it: but where there are so many buy­ers, as are continually of the Merchants-Adven­turers, every man in that case is nearest to him­selfe. And if all the Orders which ever they made, since they had the honour of their name, were searched out, and sisted over; there would not be found a syllable in them of that sound, whereof Malynes maketh such a noyse. For the Free trade whereof hee speaketh, and whereby hee pointeth [Page 63]at my Tract of trade: I would to God that those grievances therein mentioned, were remooved: and then mauger Malynes or any other, if any be of his minde, I durst proclaime, that this King­domes trade, would both be free & flourish. Wher­in neverthelesse, I haue dealt freely and fairely, in wishing, That the Kings high way of trade, Free Trade. cap. 3. vpon such reasonable termes as might concurre with the wisdome of the State, might be opened vnto all men.

But I perceiue there's no discourse of Free trade will please Malynes, and others of his minde, with­out a Par of Exchange, or complaint against Companies, the Merchants-Adventurers espe­cially. But you the Merchants-Adventurers, who worthily haue obtained, honour of his Maiestie, favour of the Nobility, fame in the world, loue of Strangers, good report of all; that you I say, should come vnder Malynes pen, and be made the subiect of his style, the obiect of his envie, is such a disgrace, as the State was never wont to let you suffer, or the honour of your name to vndergoe. What should be the cause of this mans enuy? Is his eye evill, because the gracious eye of his Ma­iestie is so good, to haue beheld your famous fel­lowship with His own aspect? For his Maiesty loo­king backe vpon some former and later experi­ments made vpon this trade, and looking for­ward vpon the danger and inconvenience of In­novations; hath as his Royall Predecessors ever did, vouchsafed his Royall grace and favour to These Merchants, This trade. Because the Cloth-trade is the Dowry of the Kingdome, the great Revenue of [Page 64]the King. It is the Axis of the Common-wealth, whereon all the other trades of the Kingdome doe seeme to turne, and haue their revolution. And therefore it hath ever beene the policy of State, to entrust this trade, to such men as are Pro­batae fidei, of approoved credit and trust, wisely to manage the same: and not to Novices and new-made Merchants, by whose inexperience the trade might bee subiect to bee betrayed into the hands of forraine Nations. And certainely the Common-wealth would lose more, by the losse of one expert Merchant discouraged and driven out, then it could hope to gaine by twenty Novi­ces let in, into a trade which they doe not vnder­stand. So that this restraint is the cause of this enuy: which is in nature an innate and inbred thing,Eleg. 3.4. according to that of the Poet, Nittimur invetitum semper, cupimus (que) negata: Men are com­monly most fond of that, which they are most for­bid. Otherwise I am as confident, as I am consci­ous of it, that there is no trade of this Kingdom, giveth so little allurement to those that are with­out, or so small encouragement to those that are within, as doth the Merchants-Adventurers trade at this day. Which notwithstanding, I hope his Royall Maiestie shall ever finde in them, that loyall resolution, which heretofore they haue shewne, to cast downe themselues and their trades in all humility, at his Maiesties feet, to be dispo­sed of, according to the good pleasure of his Ma­iesties high wisdome and grace.

And yet I would haue no man thinke, that I [Page 65]would seeme hereby to take vpon mee to perso­nate them, or meddle in their matters, further then you see Malynes hath led me into the same. Wherein I must vse this iust defence for them and me: that I haue neither had commission from them, nor consulted with them, or any of theirs, about this thing, or any thing contained herein: But with an even hand and heart, haue without partiality, Crassâ Minervâ, according to the plainenes and simplicity of mine owne poore Ge­nius, pursued Malynes from point to point. Nei­ther doe the Merchants-Adventurers of all others stand in need of my helpe. For they are happy in enioying him, who for his learning and inte­grity, deserveth praise: of whom, if I say, that hee is not second to any, of his qualitie, in this Kingdome, I shall neither flatter him, nor iniure any, as all that know him doe know, and will acknowledge. To him therefore I shall com­mend this theame, as most proper to his person and office: who for his parts is more able, and for his place is more fit then my selfe, to take vp­on him this defence, if there bee cause. It is true, I am a brother, though vnworthy of that wor­thie Society: and so I am of other Companies also: and so also am I a member, though one of the least, of the great Common-wealth of this Kingdom: wherein I haue learnt to preferre, that publique, to all these particular obligations. Ami­cus Plato, Amicus Socrates, sed magis Amica veritas. Those Companies, and that course of trade, shall be my discourse of Free trade, which shall be best [Page 66]approved of the State, and wherein the honour of The King, and the welfare of the The Kingdome, are most involved.

BY this time Malynes is come to Monopolies: the discourse whereof,§. 37. if you will take his word,P. 60. Is without Ryme or Reason, because his pure Par of Exchange is not appendix't to it. And in­deed there is some reason that such a Par as hee parret's of, should haue had some place assigned it amongst Monopolies. For I'le vndertake, that there is not any worse Monopoly in the Kingdome, then hee would make of this, If hee might haue his will. For other Monopolists would be sole sel­lers and buyers in merchandize, hee in the Ex­change. But if you doubt of his iudgement in this proiect, hee will produce his Monsieur Bodin, to approue it by this French proverbe, Il entend le par: P. 61. which was never yet knowne for any good phrase in the French, much lesse for a proverbe and is as ill a proofe as a proverbe, to approue his experience. For,

Celuy qui est d'experience, entend le par:
Malynes n'entend pas le par: Ergo,
Malynes n'est point d'experience.

The proposition is prooved by his owne Pro­verbe: the Assumption, by his Proiect, as the e­vent will manifest. But now you talke of a Sill [...] ­gisme, will you heare Malynes make a Paralogisme? Thus,

Nothing causeth. Merchants to export more money out of the Realme then they bring in, P. 61. but onely the bringing in of more Commodities into the Realme then they carryed out.

The vnder-valuation of our monies, causeth no more Commodities to bee brought into the Realme, then is carryed out.

Ergo, the vnder-valuation of our monies, causeth not more money to bee carryed out of the Realme, then is brought in.

NEvè negativis rectè concludere scibis: §. 38. Seton. There is no good conclusion can bee drawne from Negatiues. And therefore the Philosophers say, Ex nihilo, nihilfit: You cannot make some­thing of nothing. Neither hath it the shape of a Syllogisme, for all the Propositions in it, are Negatiue: which cannot come vnder any Mood or Figure of Aristotle. Or if it had the forme of a Syllogisme, yet it makes nothing against any thing I haue said. For I do not say any where, that the vnder-valua­tion of our mony causeth more mony to be caried out of the Realme then is brought in; but that it causeth money to be caryed out of the Realme, when it is brought in: against which, this Paralo­gisme, if it had beene a Syllogisme, could haue con­cluded nothing. For mony must be first brought into the Realme, before it bee carryed out. A­gaine, although it should be granted, that the vn­der-valuation of our money, doth not cause more money to bee carryed out of the Realme then is brought in, yet for all that, it may cause a great [Page 68]part of that which is brought in to bee carryed out.

Thus you see this Sophister how he chops Lo­gicke! And great care forsooth hee takes, that it breed not a Dilemma, which hee vnderstands as well as he doth a Syllogisme. For a Dilemma is that, which convinceth both wayes: which his Para­logisme doth no way: or rather convinceth him of folly. For his argument may easily be retorted vpon hinselfe: thus,

If nothing causeth Merchants to export more mony out of the Realme then they bring in, but onely the bringing in of more Commodities into the Realme then they carryed out, then it is not for want of a Par of Exchange.

But the the first is true, by his owne argument: and therefore the second.

Or will you heare of a hound, that hath a bet­ter sent of a Syllogisme then Malynes? The hound having lost the sent, coasts the Countrey: and runnes toward the East, and backe to the West, and then to the North: and thus recenteth and concludeth,

Either the Deare is gone East, or West, or North, or South. But hee is not gone East, nor West, nor North: Ergo the Deare is gone South.

BVt we are not so well as to bee a hunting,§. 39. for Malynes hath ledde vs a wilde-goose race He proposed Monopoly, but keeps a loofe from in as the Parson did, that tooke his Text of fasting [Page 69]and preach't of feasting. For now he is fallen into a laborinth betweene the Extrinsique and Intrin­sique values of monies: and therein takes vpon him to refute a sentence of mine, before hee vn­derstands it. For I speake of the value of mony in Denomination; hee of the Finenes. And I pray you, when we say,P. 61. that plenty or scarcity of com­modities maketh their Price: will any man think that to be the cause of their Goodnes? And when I say, that the plenty or scarcity of monies, cau­seth their Values: would any man but Malynes haue thought I spake of their Finenes? By Price in the one, is ment Valuation: by Value in the o­ther, is ment Denomination or account. This man will take vpon him to teach distinctions, before he can distinguish. So then though Malynes say, I deny, and proue nothing; yet to the Iudicious it will appeare, that my deny all of his Par of Exchange, P. 62. is confirmed, with an vndenyable argument, of The plentie or scarcitie of moneys, which perpetu­ally doth cause the Exchanges to rise and fall: and which doth as certainely, in forraine parts where monies goe vncertaine, rule their Values or denomination, as the plenty or scarcity of Commodities doth their Price. It is true, the name of a thing doth not alter it really, but no­minally: and denomination of money, doth al­ter it in name, though not in substance. The cloth doth not measure the yard, but the yard the cloth: but the greater the measure is, the fewer yards the cloth containeth, and the lesse the mea­sure, the more yards: and so is the denomination [Page 70]of money, the measure thereof to him that recei­veth it, whereby it is more or lesse in account. And thus Malynes having runne himselfe out of breath,P. 63. and out-run Monopolium, with telling vs a tale, of a Cocke and a Bull, of a Pewterer and a Parater: at last he begins to define it, and vnder­stands Monopolion in Greeke, as well as hee doth Neshech in Hebrew.P. 69. As you may perceiue by this his distinction,

And as this may be done by authority, so may the a­bouesayd coursed also be committed vnder the co­lour of authority, by the Princes grant, or Let­ters Patents.

I Marvell what's the difference betwene Authori­ty, and the Princes Letters Patents? §. 40. And why Malynes should terme the Princes grant, or Letters Patents, The colour of authority? But something he will say, though nothing to the purpose: and ra­ther then nothing, worse then nothing. For first hee accuseth The Turkey Merchants, of finding fault with his Maiesties preemption of Time: P. 80. should be 70. and then he falleth into the Allome Mynes: and there findes fault himselfe with his Maiesties grant, That it ma­keth that Commodity dearer to the Subiect, P. 82. should be 72. and bet­ter cheape to the transporter or Sranger. And so hee is posted from Monopoly, and is now come to Want of government in trade. And there hee fin­deth fault, with Too many distinctions, which in a little Treatise, P. 84. hee saith, may seeme superfluous.

A Litle Treatise of Free trade, of a few weeks me­ditation, may bee as methodically distribu­ted,§. 42. as a Lex Mercatoria, or Great Whale ofGreat Whale, P. 8. fiftie yeares breeding and observation. And although the Treatise be little, yet the Subiect matter there­of is great, and trencheth deepe: and I dare say, the Method is according to Art, though Malynes knowe it not. For in all Logicall Distributions, and Definitions also, there ought to bee Affectio reciprocationis, a certaine Reciprocall affection in both: Illic Partiū omniū cum Toto: P. Ram. Dia­lect lib. 1. c. 25. hîc Definitionis cum Definito. Of all the Parts with the Whole, in the one: of the Definitiō with the thing Defined, in the other, as the Logicians speake. Definition teacheth what a thing is: Distribution, how manifold it is. This is like the Diameter, which divideth the Circle in ye midst: That the Perimeter, which cōprehends the compasse or circumference thereof. Without true Definition, and exact Distribution, that worke is weake and imperfect, which otherwise seemeth never so learned. Definition is sayd to be Perfect, or Imperfect. A Perfect Definition consists of Essen­tiall Causes: An Imperfect, of Other Arguments: Distributio su­mitur exargu­mentis toti qui­dem consenta­neis, inter se autem diffenta­neis. Itaque tantò accurae­tior erit, quan­tò partium cū toto corsensio, & inter se dis­sentio maior fu­erit. Eodem. cap. 25. and then it is called Description. Distribution is that, which divideth the Whole, into the Parts. The Whole is that, which containeth the Parts. The Part is that, which is contained of the Whole. That Distribution is most exquisite and accurat, which is taken of Arguments, Most Consentany with the Whole, and Most Dissentany in the Parts. Those Arguments, are Most Consentany with the VVhole, when the Parts are Essentiall to the whole. [Page 72]Those which are Most Dissentany in the Parts, are when the Parts are most opposed One to another. The Parts are most opposed One to another, in Con­traries onely: because those are opposed, not Many to many, or One to many, but onely One to one. So then those Distributions are most Excellent, which are Dichotomies or of two parts: and those Dichotomies best, which are of Contraries. A Dicho­tomy may be perfect, in Arguments that are either Divers, or Opposite, or Disparat, because they are all Dissentanies: but it is most Exquisit, when 'tis most Opposit. But a Distribution into Many parts, can neither bee Perfect nor Excellent. It cannot bee Perfect, because Many parts cannot bee truely Consentany with the Whole, nor Dissentany in the Parts. It cannot be Excellent, because Many parts cannot be sayd to be Contrary. And as wee must labour for this knowledge, so on the other side wee must not bee so curious in our Distributions, that in striving for the Method we lose the Matter, for want of a Dichotomy. For Ramus himselfe, that famous Logician of France, was sometimes forc't to distribute,De Dialect. lib. 1. cap. 3. Idem cap. 23. into Twise two parts: as the Causes, into the Efficient and Matter, the Forme and End. And his Ort Arguments, into Coniugat and Notation, Distribution and Definition. Which is not without some mystery: for therein I am perswaded, it pleaseth The onely wise God, to hide something from wise and learned men, that They may know, that They doe not know, but in part: and that all Perfection of knowledge is in God alone. As a good Logician of our time saith, That the [Page 73]cause, why men cannot dichotomize some things, is, O [...] defectum Intellectus: for want of vnderstanding. Syntagma Lo­gicum. cap. 48 [...], &c. Plato in Timaeu And hence it is that Plato that Divine Philosopher affirmeth, that To reduce things infinit in multitude, into two parts, is very difficult, but Divine. And A­ristotle, Platoe's Scholler, was honoured for Dicho­tomizing, with this knowne Distichon,

Summus Aristoteles trutinando Cacumina rerum, In duo divisit, quicquid in Orbefuit.

Aristotle Prince of learning in his time,
Poizing the heads of things with skill Divine,
Did part them all in twaine, distinct in sense:
And those he cal'd, Substance and Accidence.

And as these were renowned among the Hea­then, so is Ramus no lesse honoured, of those that vnderstand him, amongst Christians. Who was so admirable in all the Arts, and aboue all the rest, in this Logicall skill of Dichotomizing; that he saith of himselfe, If he should desire, a Memoriae Sa­crum, Si me de vigili­is studijs (que) meis interroges, se­pulchri mei co­lumnam è Lo­gica artis in­stitutione de­siderem. In dialect Epist. A monument vpon his graue, hee would wish it of the Institution of the Art of Logick. And thus much briefly in defence of those Definitions and Distributions, which I haue vsed in my little Trea­tise of Free trade, which in Malynes sentence doe seeme superfluous.

All the rest that Malynes saith in his 4. Chap­ter, trencheth no way vpon any thing that I haue sayd, notwithstanding his challenge. He thinks it enough to set my Title, Of want of Government in [Page 74]trade, over this Chapter, and the title. Of Remedies over the next, as he vseth to doe the names of his bookes, which like Ianus faces looke two wayes, or like Watermen, that looke one way and row a­nother: and that's his best refutation of either. Onely here's a tale or two of his owne telling, worth observing: the one of himselfe, in these words,

Insomuch, P. 80. that if I receiue here one hundreth Pie­ces of 20. shillings, I can send 90. Pieces to pay my bill of Exchange, and put ten Pecies in my pocket, for an over-plus and gaine.

SO that hereby it seemeth,§. 42. Malynes is well vers't in this mystery of transportation of the Kings Coine, eitherby practice in himselfe, or observation of others. Which deserve examina­tion in both.P. 92. The other of a Flemish reckoning, of his owne making vp, between a Londoner, and an Amsterdamer: wherein for want of his Par of Exchange, this Kingdome forsooth, was deprived of a thousand pounds at a clap, in a bargaine of a thousand pounds employment onely. This is Mirabile dictu! more strange then true. For his report, as the Poet speaketh of Fame, is Tàm ficti pravique tenax, Aen. 4. quàm nuncia veri. For in this sto­ry Malynes would suppose, that the Londoner and Amster damer made a contract together. The Lon­doner sent Clothes to Amsterdam, to the value of 1000. li. The Amsterdamer sent Silkes to London, for 1500. li. Flemish. The Amsterdamer saith hee, [Page 75]desired to haue his mony sent him ouer in Specie, and so got 15. in the hundred, which is 150. li. and the Kingdom saith he, lost the whole 1000. li. The Londoner saye's Malynes, could not doe the like, because the moneys were inhansed at Am­sterdam, 15. in the hundred, higher then at Lon­don. So that the Londoner is forced to receiue his 1000. li. home by Exhange at a lowe rate, or at 33. sh. 4d. whereby saith Malynes hee doth receiue the sayd 1000. li. with no gaine at all. This tale deserue's the title of Cuius contrarium: for 'tis nei­neither true, in Manner, nor Matter. Not in the Manner, for first he propounds such a rate of Ex­change, as was never knowne betweene Amster­dam and London, and yet reckons the Londoners 1500. li Flemish, at 33.4 d. which is no lesse then 100. li. difference in 1000. li. Nor in the Matter, for when Malynes tolde this tale, it was October, 1622. And then By the Royall Intercession of his Maiesty, the States had decried their monies in the Vnited Provinces, Great Whale. p. 313. 314. whereof Malynes himselfe takes notice in his Great Whale. So that Vice versâ, the case is quite altered. For the Londoner brought over from Amsterdam his 1500. li. in good Iacobus pieces to profit: But Malynes friend the Amsterda­mer as is reported, happened vpon an ill Exchange from London: For hee would needs change his 1000. li. into Spanish Reals, and ship them at Saint Katherins, and the Searcher tooke them vp at Graues-end. And if Malynes for his part, would haue beene as nimble, in fetching an hundred twenty shillings pieces from Amsterdam, he might [Page 76]now, as well haue put ten Pieces in his pocket, in bringing them thence, as hee sometimes seemed to doe, in carrying of them hence: and more safe­ly too: for money is there a Merchandize, here a treasure: there tollerated to bee exported, here prohibited.

And thus Malynes being put to his shifts, and wanting powder and shot to charge, or discharge any longer; is at last encountered of the Reme­dies: Against which hee is forc't to mount his great Ordinance: wot you what it is, a Piece of wood, after Malynes block, painted like a Brasse Piece: and yet braue's it like himselfe, and promi­seth A Remedy of great facility, P. 83. P. 85. a Remedie that com­prehends all Remedies: No lesse I can tell you, then his Engine of Exchange. His Par forsooth, pro Pari, must stand him in stead Ad Omnia quare; as the chiefe Oare in his boat, the Key of his work, his onely Antidote. But this his Quare, must not passe without a Quaere: For,

Homine Imperito nunquàm quicquam Iniustius:
Ter. in Adelph.
Quinisi quod ipse facit, nihil rectum putat.

The Second PART. Of Exchanges in generall: and therein of the Ballance of the Trade of this Kingdome, with forraigne Countries.

THere are certaine Empericks or Quacksaluers in the world,Section. 1. that vse a Pill they call Pan­chreston, that is, a medecine for euery malady, a salue for euery sore. And if Malynes had been but a Smatterer in any Science, I should haue thought him of their Colledge: for he will needs haue his Par of Ex­change to be the sole and soueraigne remedy for [Page 92]all the grieuances of Trade. If he had vsed the Flemish phrase, that Butter is good for all things, he had spoke more like himselfe, and you might better haue belieued his word.

This Par of Exchange is an old foil'd pro­iect of his,§. 2. of 22. yeeres growth. For in An. 1601. hee pas't the Presse with a Pamphlet cal­led after his manner, The Canker of Englands Common-wealth. That, he then dedicated to that worthy and noble States-man Sir Robert Cecill, then Secretary of State to Qu. Eliz. wherein if there had been any thing of worth, he could nei­ther haue presented it to a more worthy States­man, nor could there any thing haue fallen to the ground, that might either haue concern'd the Re­uenue of the Crowne, or the Common-good of this Kingdom. But this proiect being then found of no worth; both he and it were worthily reie­cted. Which might haue made a sober man to haue suspected his own iudgement, or at least for borne to trouble the world any more with such a toy. But he, as if he were still in trauell with a monster, hath fallen a fresh againe on this stale stuffe, in his Pamphlet, misnamed, The Mainte nance of Trade, and againe in his Great Whale: and hath dared with his waxen wings to sore as high as the Sunne, to present the same trim'd vp in a turn'd coat, to no lesse then the Sacred Person of the King. Which, he that will take the paines to compare together, may say of them as sometimes the Comisk said of Menanders Andria and Pe­rinthia; Ter. In Prolog. An­driae Qui vtramuis rectè nôrit, ambas nouerit▪ [Page 93]He that knowes one of them, knowes all of them. One­ly, as the man is growne more crasie, so are these latter writings stuffed with more vanity, and much lesse modesty then the former.

Therefore wee will leaue the man for a while,§. 3. Exchanges in generall, may be said to be Personall or Prouinciall. and consider the matter. Exchanges may be vnderstood [...] and [...], in many and manifold notions. For the knowledge of Com­merce, and the wealth of a Common-wealth, con­sist in the vse of Exchange. Exchange and Per­mutation, and Commutation are all one. Exchange is a kind of Commerce exercised in mony, in mer­chandize, in both, in either; of one man with an­other, of one Country with another. All Exchan­ges then, may be said either to be Personall, or Prouinciall. Personall, which respect the Ex­change of mony or Merchandize, betweene man and man. Prouinciall, which respect the Ex­change of mony and Merchandize of one King­dome with another. The former hath relation to matter of Trade: The latter to matter of of State. In the one consist's the gaine or losse of a Mer­chant: In the other the gaine or losse of a King­dome in the Ballance of Trade.

All Personall Exchanges may be conside­red Largely, or Strictly. Largely, §. 4. Personall Ex­changes Large­ly taken. when there is an Exchange, or Permutation of any one thing for an other: whether it be, With mony or Without Mo­ny. With mony, when either Merchandize is exchanged For mony; or Mony for mony. The former of these is called Buying and Selling: be­cause mony is now become the price of all things; [Page 94]which from the beginning was not so. For as the world encreased in people, so did it also in Commerce and trade. So that where before mony was inuented, there was an Exchange, or Permutation in moueable and mutable things one­ly, as Corne, Wine, Oile, and the like: and af­terwards in immoueable and immutable things, as Houses, Lands and the like; there was a necessity of mony, to value such things with mony as could not be exchanged. And so by degrees all things came to bee valued with money, and mony the value of all things.

The latter,§. 5. Exchange with mony. when money is exchanged for mony is called Mony-changing, when mony is bought with mony. And such Mony-changers, the Grecians called [...], and the Romans Nnmu­larii; which were Bankers or Exchangers of mony for mony with gaine. Such were those in Christs time, as appeareth by the Phrase in the Originall, [...]. Matth. 21.12. whom Christ whipt out of the Temple, for the abuse not of the thing, but the place. But, God knowes, were neuer in any age nor language, vnderstood for Officers of a: Mer­chants Exchange, as Malynes fondly faineth, amongst other his fictitia, or feigned fables in his Great Whale; Page. 37.8. whose fond conceipts deserue to bee whipt out of the Common-wealth, for abuse of the thing, and the place also.

The Exchange without mony, is properly called Commerce; §. 6. Excchange without mony Free trade. Cap. 1. p. 20. which as I haue shewed els­where, is Commutatio mercium, an Exchange of wares for wares: and in Merchants termes is cal­led [Page 95] Trucking or Bartering. And if there bee any mystery in merchandising, there is more in this kinde of Exchanging, then in that of monies: for the Commodities of all Countries are more vari­ous, then the monies: and the waight and bulk of trade consisteth more in Commodities then in monies. And a skilfull Merchant will oft pre­ferre a barter for Commodity, before a sale for mony: because hee much more aduanceth the price of his Commodity: in which skill, he that hath most skill, hath most aduantage. A Com­mon-wealth also may subsist with the trade of Commodities without mony: but it cannot sub­sist with the trade of mony without Commo­dities. Wherein consisted the policy of Platoe's Common-wealth, and the fine conceit of Sr. Tho. Mores Vtopia, so much honoured in the world.

And thus much for Personall Exchanges at large. Personall Exchanges strictly vnderstood,§. 5. Exchanges strictly taken. are such as are restrained only to bils of Exchange, in vse amongst Merchants: Which is done, when one lendeth or letteth a summe of monie, and another borroweth or taketh it, to pay the like value by a bill of Exchange to a third person in some remote place. Or it is a voluntary con­tract, made by the mutuall consent of two parties, at such price and time as they can agree, for the conueying of mony to, or the drawing of mony from, any remote or forraine part. Or in a word, it's nothing else but a transmutation of money from place to place without transportation.

So that this kind of Exchange or Permutation, §. 8. The Name of the Exchange. will appeare to be of singular note and obseruati­on, if we consider the Name, or the Thing it selfe. The Name is taken, either from the Subiect, or from the Adiunct thereof. The Subiect is the place, and therefore it's called in Latine Cambium: and Cambire is quasi cum-ire, or conuenire: taken from the place, where Merchants and others come together. And so it is in Spanish and Ita­lian called Cambio. The Adiunct respecteth, ei­ther the Action there done, as the Exchanging of mony; or the Actors, the Exchangers thereof. And thence it is call'd the Exchange or Burse. The latter is common in most languages, deriued of the Greek word [...], signifying the Purse or Treasury where mony is to be sought vpon all occasions. The Name and forme of the place, some thinke was taken from the Castle in Carthage. Where­of Virgil maketh this mention;

Mercatíque solum, facti de nomine Byrsam,
Taurino quantùm possent circundare tergo.
A peece of ground both long and wide
Was bought, gir't round with
Dido by sub­tlety obtained of K. Iarbus as much ground as she could compasse with a Buls hide: which being thought to be little, was easi­ly granted. But she caused the skinne to be cut in small peeces, and stretcht out in such length, as it compa'st 22. stadia or furlongs of that measure, whereon shee built Carthage, & in the midst thereof a Ca­stle, which she called Byrsa, frō the name of the Bulles hide: and by a Metonimy, a Purse. Strabe lib. 17.
a Buls hide:
Whereon a Towre rare to bee seene
Was buil't, cal'd Burse by Dido Queene.

And indeed the Burses for Merchants as­semblies in most places, are of stately Structure; as is our Burse of London: the modell whereof was taken from the Burse of Antwerpe, which twaine are much alike, and excell all others that I know. That of Amsterdam resembleth ours: but ours farre exceedeth that in extent and costly archi­tecture: [Page 97]and was worthily named of Qu. Elizabeth The Royall Exchange.

And thus much of the Name: The Thing it selfe followeth.§. 9. The Thing or matter, considered in the Exchange Naturallor Politique. Which may be said either to be Natu­ral or Politique. A Natural Exchange is when mony is exchanged Value for Value, according to the In­trinsique or inward finenes, or true value thereof. The Intrinsique value or finenes of monies, cannot be known, but by a dissolution & melting down of the same into their proper bodies: & by a separatiō of the pure from the impure, the fine siluer or gold, from the allay or copper by assay. In which Natu­rall Exchange, there is no rate nor price to be ad­mitted for the deliuering or taking of mony: but looke how much fine siluer or gold you receiue in one place, iust so much, and no more you must pay or deliuer in another. And this is a better di­rection, then limitation of Exchanges. For the finenes of monies, is that Cynosure or Center, whereunto all Exchanges haue their naturall pro­pension. But if you should so limit or restraine Exchanges, that no man should take or deliuer any mony, but according to the iust finenes: then the vse of Exchanges in all places would bee taken away. For then there would be no aduantage left neither to him that deliuereth, nor him that ta­keth, when mony must bee answered with mony in the same Intrinsique value. For as it is the good­nes of a Commodity that directeth the price; yet that price is greater or lesse, according to the vse of the thing, or the iudgement of the buyer and seller: euen so, it is the finenes of mony, that dire­cteth [Page 98]the price or value of the Exchange, yet that price is greater or lesse according to the occasions of both parties contracting for the same: which cannot be done in the Naturall Exchange, because it admitteth no aduantage to either.

The Politique Exchange, is when mony is ex­changed value for value,§. 10. The Politique Exchange. according to the extrinsi­que or outward valuation. Such as is the intrinsi­que finenes to the Natural Exchange, such is the ex­trinsique value to the Politique Exchange. Where­in Merchants are wont to reckon the certaine va­lue of mony in finenes, at an vncertaine valuation, in denomination and accompt: sometimes at a higher, sometimes at a lower rate. Which is therefore in Merchants termes, called the price, or course, or rate of the Exchange. And this valua­tion is thus vncertaine, because it is greater or lesse, according to the circumstances of time, and place, and persons. Of time, when money is taken by Exchange for longer or shorter time. Of place, where mony is more plentifull or scarse. Of persons, when the party taking mony, is of greater or lesse credit, or hath more or lesse need thereof. In all these respects, the rates of monies deliuered and taken by Exchange, are alwayes more or lesse. For as it is a common thing amongst men to sell one & the same commodity, to diuers men at diuers prises: so is it also in Exchange, when one and the same finenes of mony, is an­swered by a different value in denomination or accompt. Neither is there any certainty of gaine to the deliuerer of mony in the first Exchange, [Page 99]although he seem to haue some aduantage in the price thereof aboue the value of fine siluer; nor of losse to the taker, though hee seeme to haue some disaduantage in the price thereof vnder the value of fine siluer: because the deliuerer may perhaps be subiect to remit his mony backe, in the second or forrain Exchange, as much vnder the va­lue of fine siluer, as he had before aboue the value in the first Exchange: And it may fall out also, that the taker may gaine by the rising of the Exchange abroad; that, which hee seemed to lose by the fal­ling thereof at home. And if it happen that the mony deliuered in the first Exchange, bee not re­mitted in the second Exchange, but otherwise em­ployed in trade; that alter's not the case, by Ma­lynes owne rule; which is,Pag. 3. That commodities are bought and sold according to the publike measure of the Exchange. So that in these Exchanges, there is no certainty of gaine or losse to the parties taking or deliuering of mony, vntill the time be run out, and the returne come backe, from those parts and places, whether the mony was first deliuered by Exchange: during which time, the manifold oc­currents which are contigent to trade, may vary the gaine or losse to either party.

But because Malynes would make the world beleeue,§. 11. The vse of Exchange. that there is some great mystery in this kinde of Exchange, let vs come a little neerer home, in considering the Vse, or Abuse thereof. This kind of Politique Exchange, is an excellent policy of trade, I might say of State: and concer­neth both The King and Kingdome. It concer­neth [Page 100] The King: when by the benefit of the Ex­change, his Maiesties affaires of State and high consequence, may bee furnished with monies in forraine parts, vpon all occasions, without the exportation of any of his owne treasure. It con­cerne's The Kingdome: both in respect of Noble-men, and Trades-men. Of Noble-men: when by the benefit of Exchange, yong Noble-men and Gen­tlemen may be supplied with monies in their tra­uels, without the danger & inconueniēce of carry­ing ouer mony, which without the Exchange could not be auoided. Of Trades-men: and that princi­pally in respect of Merchants and Clothiers. Of Merchants, Old and Yong. Of Old Merchants: whose meanes although good, yet through the deadnes of times & trades, a good mans estate may be out of his hands in debts and wares: which may be supplied by the benefit of Exchange. Of Yong Merchants: who hauing little meanes, and lesse credit with the vsurer without a surety, whom euery Yong man, nor Old neither, hath at com­mand, may supply themselues vpon their owne credits with great summes of mony by Exchange: the least part whereof, they could not haue had without a surety at interest. Which is a singular benefit to Yong Merchants, and tendeth to a very great inlargement of trade. Of Clothiers: for when the Cloth-markets are dead, and when the Clothier cannot sell his Cloth, and the Merchant hath not mony to buy his Cloth; the Exchange becometh a succoure, and supply to both. When thereby, vpon a sudden, the Merchant can fin­nish [Page 101]himselfe with mony, and take off the Cloth from the Clothiers hand, to the comfort of the Clothier, & the poore people that depend on him, and to the great quickning of the Cloth-trade: which is highly to be tendered in this Common­wealth.

And thus much briefly for the Vse of this Poli­tique Exchange: §. 12. The abuse of Exchange. the Abuse followeth. Which Ma­lynes hath Monopolized to himselfe, in his Par of Exchange, which is the onely Abuse thereof. Malynes in diuers parts of his Little Fish, and in his Great Whale, where the same is suck't in againe; would perswade the world, that there is a great vnderualuation of our monies in Exchange, to those of Germany and the Low Countries. Which is the foundation and maine piller to support his Par, & perillous proiect: so if you take that away, all falle's to the ground. In An. 1586. he saith, the Reall of 8. was set in the Low Countries atPag. 12. 42. Stuyuers, and the Exchange atPag. 12. 33. s. 4. d. Fle­mish for our 20. s. Sterling: and the Riecks Daller went then in Germany atPag. 32. 32. shillings Lups, and the Exchange atPag. 33. 24. s. 9. d, Hamburgh mony for our 20. shillings Sterling. The Reall saith he, is now raised in the Low Countries toPag. 13. 51. Stuyuers: and the Riecks Daller in Germany toPag. 34. 54. Shil­lings Lups. Whereby Malynes would inferre, that by how much these monies are inhansed aboue those ancient values, which is not so little as 20. in the hundred, by so much our monies are vnderualued in Exchange vnto those parts: and by so much our natiue Commodities are sold in for­raine [Page 102]parts too cheape, and the forraine brought in as much too deare: and to be the cause also of the exportation of our mony; and the hinderance of the importation of forraine Coine into this Kingdome. These are fearefull effects; if wee may giue credit to Malynes Report. And this I take to bee the substance of Malynes supposition.

Whereunto I answer, that first denomina­tion of monies, doe alter their names onely, not their true values.§. 13. For there is no more fine siluer in a Reall of 8. when it goeth at 51 Stuyuers, then when it goeth at 42 Stuyuers: nor in a Riecks Daller when it goeth at 54 shillings Lups, then when it goeth at 32 shillings Lups. And next, that as the mony hath been raised in Germany and the Low Countries, from that it was in An. 1586. so likewise hath the Exchange there rissen since that time accordingly: which being opposed to the rising of the mony, maketh the one equiualent to the other. Wherein Malynes error is so grosse, that I wonder, how any man of vnderstanding could be deceiued therewith: for hee reduceth the in­hansed dutch mony into English mony, at the low rate of Exchange: whereas he should haue taken aswell, the inhansed rate of Exchange, as the in­hansed mony; and then the difference had been none at all.

This may be made more perspicuous by a fami­liar example.§. 14. An Example of Exchange. A Gentleman goeth ouer into the Low Countries, and maketh ouer 100. l. Sterling to beare his charges there. The mony he deliuers by Exchange in London for Amsterdam, after the [Page 103]rate of 33 sh. 4 d. vzance. At which rate he is to re­ceiue at Amsterdam L 1 [...]6.13.4. Flemish for his 100 l. deliuered at London. This L 1 [...]6.13.4. Flemish is paid him in Amsterdam in Hollands Dallers, at 2 Guilders or 40 Stuyuers the Daller, which amoun­teth to iust 500 Dallers. So then these 500 Dal­lers, and that L 166.13.4. Flemish, are both equal in value to this 100 l. Sterling. It falleth out that this Gentleman is otherwise supplied of mony in the Low Countries for his [...]pence; so that being againe to returne for England, he is to remit his mony backe againe by Exchange for London. And by this time the Hollands Daller is risen from 2 Guilders to 42 Stuyuers the Daller: so that now his L 166.13.4. Flemish is in denomination come to be 175 l. Flemish: but withall the Exchange is also risen to 35. shillings Flemish. Now the que­stion is, what this Gentleman shall gaine by the ri­sing of the mony thus vpon his hand in Holland? Surely that which the Dutch-men say, is Goet in de ooge, quaet in de buydel; and we say, that you may put it in your eye, and not see the worse, which is iust nothing at all. For his 125 pounds Flemish, being to be deliuered by Exchange for London at 35. shillings, that is, to receiue 20. shillings Sterling at London for 35. shillings Flemish deliuered at Amsterdam; is all one, as to haue deliuered his L 166.13.4. at 33. shillings 4 pence: and both of them produce only his 100 l. Sterling againe, and not a peny more.

But if this Gentlemen would learne of Ma­lynes to reckon without his hoste; that is, to reckon [Page 104]his Flemish mony risen high, at his low Exchange, he might haue deceiued himselfe, as Malynes de­ceiueth others, with his Flemish reckoning. Or if it had been lawfull for this Gentleman, to haue sent ouer his 100. l. in Spanish Reals, when the Reall of 8. went at 51. Stuyuers at Amsterdam, and to haue had the lucke of a low Exchange from thence, to haue deliuered his mony backe, which is very rare, when the Species run high; he might haue got 25. in the hundred as they did that car­ried Reals thither last yeere: as I haue elsewere shewed vpon the like occasion. Otherwise, when the Species run high,Free trade Cap. 1. p. 8. and the Exchange runne's high: hoc aliquid, nihil: all this something produ­ceth nothing.

And this is all the Mystery that is in this deepe speculation of Exchange, §. 15. wherewith Malynes would amaze the world: Sometimes there is some gaine: sometimes there is some losse: sometimes there is neither gaine nor losse: but as the rate of the forraine Exchange falleth out, whereby that mony is to be remitted, which was before deli­uered by Exchange; so is the gaine or losse, what­soeuer the denomination bee. Which Malynes himselfe proclaimeth in his Great Whale, Great Whale p. 371. in these words, Know yee therefore, that the benefit or pro­fit of Exchange is neuer known directly, but by the re­change thereof.

But because this Rechange is vncertaine,§. 16. the gaine or losse thereof must needs also bee vncer­taine. Whereof there is no other reason to bee giuen, then of the vncertainty of all other things, [Page 105]which are bought and sold in the market. For when there is plenty of things, they are com­monly cheape, and deare as they are more scarse, or more or lesse in vse. And so it is in Exchanges, as there is plenty or scarsity of mony, so is the price or rate of the Exchange in all places. And thence it is that the King of Spaines mony is so soone recented and felt of all the Exchanges in all places round about. For his monies that are yeerely disposed, for payment of his Soldiers in the Low Countries, whether Exchanged with the Genoaises, or trāsported in Specie, are first felt in the Exchange of Antwerpe, and afterwards in all the o­ther Exchanges, as of London, Paris, Lions, Roan, Amsterdam, Delft, Middelburgh, Hamburgh, Venice, and elswhere wher Exchanges are in vse: which for that cause, commonly follow the Ex­change of Antwerpe. And therefore as all other Naturall things must haue their course, so also must Exchanges, and will no more endure a forst Par to be put vpon them, then the market will en­dure to haue the prises of all things prefixed or set.

But yet to come a little closer to Malynes: §. 17. let vs leaue 1586. and the vncertaine rates of monies and Exchanges that haue been euer since, and take the present state of the time, and the In­trinsique and Extrinsique value of our monies and of the Low Countries, and the rate of the Exchange as it goeth at this day, and bring Malynes Tenet to this touchstone. And amongst other Species, be­cause we haue had so much dispute about the Spa­nish Reals, and that these are all one in Intrinsique [Page 106]value or finenes, with our mony: that is, a leauen ounces two peny waight fine.In Great Whale. Pag. 314. These Malynes taketh notice to be now set in the Low Countries by a Placcaet or Proclamation, published the 21. Iuly. 1622. at 2 Guilders 8 Stuyuers, or 8 shillings Flemish the piece. Now 4 ⅜ Reals of 8 are equall to our 20 shillings Sterling in the Vnited Prouin­ces, in Extrinsique and Intrinsique value: and both are equall to 35 shillings Flemish, which is the present rate of the Exchange. The Reall of 8. waigheth in the Low Coū ­tries, 17. Eng­lish or penny waight & 25. ases or grains: And the Eng­lish shilling waigheth 3. English or pe­ny waight and 28. ases or graines. For 4 ⅜ Reals of 8, waigh 77 English or Peny waight, and 25 ⅜ Ases or Graines: and 20 shillings Sterling waieth 77. English, and 16 Ases: which is but 9 ⅜ Ases dif­ference in 35 shillings Flemish, which is not a peny Sterling in the whole. Againe, 4 ⅜ Reals of 8 at 2 Guilders 8 Stuyuers the Reall of 8, produce iust 35 shillings Flemish: And 20 shillings Ster­ling at 10 ⅜ Stuyuers for euery Shilling, as they are also set by the said Proclamation, produce the very same value. So then our English siluer mony, and the Spanish Reals, and the value of both in the Low Countries, and the rate of the Exchange, doe all agree. Wher's the vnderua­luation then that Malynes maketh all this stirre about?The Iacobus peece, and the golden Rider, contain 24. 8/1 [...] Peeces in the Flemish Mark. And our gold mony is rather ouer-valu­ed: for Malynes knoweth, that the Iacobus peece, and the Great golden Rider are of one finenes. Now this Golden Rider by the Proclamation afore­said is set at 11 Guilders 6 Stuyuers, which is 37 sh. & 8. d. Flemish: And the Iacobus peeces pro­claimed for Bullion. The cause of plenty of Ia­cobus peeces brought into England. But if you will reckon them but at the price of the Rider, and at the rate of [Page 107]the Exchange aforesaid, the gaine is 10 d. Flemish in a peece, to bring them from Holland into Eng­land. For indeed the Iacobus peece and the Dou­ble Rider being of one finenes, and the Iacobus peece proclaimed Bullion, ought there to be valued vnder the Rider, so much as is the coynage of the Rider: But the Iacobus peeces being now so much sought after there, to be brought ouer hither; the price of them is raised 4 d. Flemish aboue the Ri­der, viz. to 38 sh. Flemish, and yet abundance of them are still brought ouer by Dutch and Eng­lish: or els our complaint of want of mony had been farre greater in this Kingdome.

What vse is there then of Malynes Par? §. 18. Or rather what Abuse would there bee by such a Dispar, which hee presseth so hard, and where­with he would oppresse vs much more? For vn­der the colour of the vnderualuation of our mo­ny in Exchange, which I haue shewed to bee but Imaginary, and a dreame of his own weake braine, hee would bring a Reall losse of 20. in the hun­dred by raising of the Exchange, vpon all the Eng­lish Merchants estates in Germany and the Low Countries, and by a secret conueyance would conferre the same vpon the Stranger; which would all fall vpon the Cloth Trade of this Kingdome. For all men know, that in England the Stranger is commonly the Deliuerer of mony, and the English the Taker. Because the English commonly ta­keth mony at home, either to draw home his meanes from forraine parts, or els to inlarge his trade. And the Stranger is the Deliuerer of mo­ny [Page 108]here, because when he hath sold his forraine Commodities here, he is to remit his mony home by Exchange. But in forraine parts, the English is commonly the Deliuerer, and the Stranger the Taker: because the proceed of the Cloth and other the natiue Commodities of the Kingdome sold in forreine parts, administreth continuall oc­casion to the English, of Deliuering of mony for returne thereof. By meanes whereof, this great losse would falle vpon the English, both in Eng­land and Beyond the Seas, and become so much gaine to the Dutch. For the higher the Exchange is in England, the more losse it is to the Taker, and the more gaine to the Deliuerer: because the Taker must giue to the Deliuerer, so much more Flemish mony abroad, for the English mony hee taketh vp by Exchange at home, as the rate or price of the Exchange is raised. And the higher the Exchange is in Dutch-land, the more losse to the Deliuerer, and gaine to the Taker by the same reason: because the Deliuerer must there giue to the Taker, so much more Flemish mony, as the Exchange is rissen, for the English mony he is to receiue at home. As for Example: suppose the Exchange goe from London to Amsterdam at 35 sh. Flemish, for euery 20 shillings Sterling: then if I take vp 100. l. Sterling of a Dutch Merchant in London, I must pay him or his Assignes 175. l. Flemish at a Moneths time in Amsterdam. Or if I am at Amsterdam, and will there deliuer 100. l. Sterling for London, and the Exchange from thence for London, goe at 34. shillings 9 pence [Page 109] Flemish, for euery 20. shillings Sterling: then if I deliuer there 173 pounds 15 shillings Flemish, I shall receiue 100 pounds Sterling, at a moneths time in London. But if the price or rate of the Exchange should be raised in London, from 35 shil­lings to 40 shillings Flemish, for euery 20 shillings Sterling; which is much lesse then the suggested difference before mentioned, then I must pay in Amsterdam 200 pounds Flemish for 100 pounds Sterling receiued in London. Or if I be a deliue­rer of mony at Amsterdam; where I shalbe sure to finde the Exchange to rise in proportion to the Ex­change at London, as Malynes himselfe confes­seth,Little Fish p. 86. That the price of the Exchange will alter there accordingly, then I must deliuer 198 pounds 15 shillings Flemish, at 39 shillings 9 pence, to re­ceiue 100. pounds Sterling at a moneths time in London. Whereby my losse will be in proportion to the other, with the difference of time.

If this be the Inconuenience, what will bee the euent?§. 19. The Decay of the Cloth-trade threat­ned by Ma­lynes Par of Exchange. Surely no lesse then the Decay of the Cloth-trade. For the Exchange is that, which re­presenteth to the English Merchant, his whole estate beyond the Seas, for his ready vse and im­ployment thereof in England vpon all occasions. Which is the cause, that the English Merchants which trade into Germany and the Low Countries, doe buy their cloth with Ready Mony, when other Merchants that haue not this benefit of the Ex­change, are faine to Take time of the Clothiers, to pay them at the returne of their Estate in Wares. So that if there should be a stop in the Course of [Page 110]the Exchange, then either the English Merchant will forbeare to take vp mony by Exchange; or els hee will looke to recouer the losse of the Ex­change, vpon his Cloth. If he forbeare to take vp mony by Exchange, then he can neither buy so much cloth, nor giue ready mony for the same as he was wont. Wherby will follow a stand in Black-well-Hall, which is wont much to be refreshed by the ready vse of the Exchange. And if the English wil not take, the Stranger cannot deliuer: and if he cannot deliuer, of necessity he must be thrust vpon the Transportation of Mony, more then euer he was before: and then the remedy will be far worse then the disease. And if the English Merchāt must needs recouer the losse of the Exchange vpon the Cloth; it must either be done in the buying of it at home, or selling of it abroad. But it cannot be done in the sale of the Cloth abroad: for the Cloth-trade grones already vnder the present burthen that lye's vpon it, which presseth it downe so sore, that it cannot recouer it selfe: whereof there are 2. principall witnesses, the Quantity, and the Price of Cloth, both diminished. Therefore of necessity, this losse must bee expected of the Clo­thier: which would be a matter of grieuous con­sequence, as the termes of trade now stand.

But will you heare Malynes Prolepsis or an­ticipation of these obiections?§. 20. Thus,

  • 1 Some make doubt, that the price of Exchange being risen,
    Pag. 90. Malynes ob­iections.
    there will bee no takers of mony, and then the deliuerer is more thrust vpon the exportation of mony.
  • 2 Others say, that those Merchants which haue sold [Page 111]their Clothes beyond the Seas, shall receiue a losse in the making ouer their mony from thence.
  • 3 Others say, that they shall not bee able to vent their Cloth, according to the high Exchange, especially now the same is out of request: and would haue the matter of reformation deferred vntill another time.
  • 1 The first Obiection is answered before, that the Ta­ker is ruled by the Deliuerer, who will not giue his mony by Exchange, vnder the true value, according to the Proclamation to be made: and the Deliuerer being the Merchant stranger here, will sooner bee thrust vpon the Statute of Employment; for by the exportation of mony he shall haue no gaine: where­as some of the discreeter sort, would not haue the Sta­tute too strictly pressed vpon the stranger, because the trade should not be driuen into their hands.
  • 2 To the second, the Proclamation limiting a time for execution, giueth Merchants ability to recouer their monies, or to sell their bils of debt for mony, or to buy Commodities for them, as the manner is.
  • 3 To the third, experience maketh a full answere to both, that there did want no Takers, when the late inhancing of mony at Hamburgh, caused the Ex­change to rise from vnder 28. shillings to aboue 35. shillings; which is more then the present alteration will be: and Wooll was at 33. shillings the todde, which is now fallen vnder 20. shillings. So that the vent of our Cloth was not hindred, when it was sold dearer by one full third: but there was aboue 80. thousand Clothes sold yeerely, where there is not sold now 40. thousand Clothes.

All which obiections and answeres,§. 21. are a Col­loquy or rather a soliloquy of his owne. Malynes did well to thinke on such obiections, as hee could best answer. Because indeed the manifold obiections which his proiect bringeth with it, are vnanswerable. But Malynes is so easie a Comba­tant, that a man may giue him any aduantage of the weapon. Let vs take it for granted, that these are all the obiections that might occurre this [Page 112]proiect, and apply our selues vnto a Reply there­vnto.

To his first answer therefore I say,§. 22. Malynes ob­lections refu­ted. Contractus est conuentio, quâ ex duorū pluriúmue in idem negoti­um seu placi­tum consen­su, obligatio ad dandum quid vel faci­endum con­trahitur. Alth. Dicaeolog. l. 1. cap. 64. that it is no more true, that the Taker is ruled by the Deliuerer; then that the Deliuerer is ruled by the Taker. Which Taking and Deliuering, as it is A volunta­ry Contract, made by the mutuall consent of both parties; so are both alike free to Take and Deliuer at their owne pleasure, as in all other contracts and bargains of buying and selling. And trade hath in it such a kinde of naturall liberty in the course and vse thereof, as it will not indure to be fors't by any. If you attempt it, it is a thousand to one, that you leaue it not worse then you found it. And therefore Bodin saith excellently, Estenim libertas naturalis huiusmodi, vt voluntas benè à natura informata, imperium alterius post Deum Im­mortalem reiiciat. Naturall liberty is such a thing, as the will being by nature rightly informed, will not endure the command of any, but of God alone. Which must be vnderstood of naturall liberty in the vse of things indifferent; and not of Regall authority in the exercise of gouernment. And hence it is gone into a Prouerbe, Quoà natura dedit, tollere nemo potest. That which nature giueth, no man can take away.

Iustice is said to be Distributiue or Commutatiue. §. 23. Distributiue Iustice is so called à Distribuendo, be­cause it giueth euery man his owne, by a Geome­tricall proportion, as the Ciuilians speake: that is, with respect to the quality of the Person, not the Thing. Commutatiue Iustice à Commutando, be­cause [Page 113]cause it giueth to euery man his own, by an Arith­meticall proportion: that is, with respect to the equality of the Thing, not the Person. This last is placed in Commerce and Contracts, because by the rule of Iustice there ought to be an equali­ty in buying and selling: wherein Par est vtriús­que conditio, as the Ciuilians also speake, the Buyer and the Seller, he that Letteth, and hee that Taketh, ought to bee vpon equall termes. And therefore you breake this law Malynes, when you w [...]l haue the Taker of mony ruled by the De­liuerer.

Malynes addeth, That the Merchant Stran­ger will be sooner thrust vpon the Statute of Employ­ment, for by the exportation of mony he shall haue no gaine: how quickly Malynes hath forgot his owne practice, which he spake of but ere while, in putting 10 Iacobus peeces in his pocket, by sen­ding ouer 90 Peeces to Amsterdam! And surely those discreet persons, that finde fault with the strangers employments here in this Kingdom, are none of Caesars friends, nor friends to Caesars sub­iects.

To the second I reply, that Malynes taketh care onely for the present,§. 25. as those beast of Ephe­sus did, of whom Saint Paul speaketh, [...] 1. Cor. 15.32. Ede, bibe, dormi, post mortem nulla voluptas. * Let vs eate and drinke, for to morrow we shall die. For by this limitation of the Proclamation, the English Merchants should once escape this losse of 20. in the hundred, and euer after pay it to the Dutch. The Ephramites were knowne by the pronoun­cing of Sibboleth, and so may Malynes by his Lan­guage, [Page 114]bee knowne what Countriman hee is.

To the 3.§. 26. I reply, that although there wanted not takers of mony by Exchange for Hamburgh, when the Exchange risse from 28 shillings to 35 shillings, yet it doth not follow, that therefore there would be takers at his Par of Exchange: for it is a plaine Dispar, a different case. For those that then tooke mony for Hamburgh, the Takers gained and the Deliuerers lost: because the Ex­change risse faster at Hamburgh, by reason of the raising of the monies there, then it did at [...]ndon. Which if Malynes be ignorant of, he was surely a sleepe in his Great Whales belly at that time. But in Malynes case, the Deliuerers will get, and the Takers must lose: because his rate of the Exchange at home must be higher, then the for­raine Exchange; Pag. 14. els the strangers gaine of trans­portation of mony cannot be answered by Ex­change, according to his owne fallible rule.

Headdeth,§. 27. that our Wooll was at 33 shillings a todde, which now is fallen vnder 20 shillings: and that there was aboue 80 thousand Clothes sold yeerely, where now there is not sold 40. thousand. Animus meminisse horret, luctúque refugit. Malynes produceth such a miserable es­fect, of the decay of the Cloth-trade of this King­dome, as would make a mans eares tingle to heare it. What's the inference? mary that his Par of Exchange, may proue also another Barre to trade; and cause the Cloth-trade both in the Clothier and Merchants hands, to be so much dearer to them, and cheaper to the stranger, by how much [Page 115]hee would alter the naturall course of the Ex­change, to the great aduantage of his owne, and the losse of our Nation.

This is the profit of this and the like Proiects! These are ill seeds sowne in a fertile soyle! These are like Cadmus serpents teeth sowne in the Earth,Met. 4. which brought vp men in armes killing one ano­ther. Or like the Apples of Sodome, that are spe­cious in shew, but if you touch them, they will fall to powder. Qui praemonetur, praemunitur: A man fore-warn'd is halfe arm'd. And I hope we shall euer be warn'd by those harmes, not to di­sturbe trade for any guilded probability, nor in­nouate the same, without euident vtility.

And thus it appeareth, that as Malynes obie­ctions are faigned, so are his answeres also. Such is his Par, and such is his Person. I shall therefore leaue him and it, to the wisdome of the State: to which I doubt not, it is as cleere as the Sunne, that there is no such Cause as Malynes pretendeth, and therfore no need of any such Remedy: That his Proiect is dangerous and damnable: and not so difficult to be discern'd, as perillous to bee put in practice.

ANd thus much of the Personall Exchange be­tweene man and man, in mony, in merchan­dize:§ 2 [...] Of the [...] uinciall [...] change. It remaine's now to speake in a word of the Prouinciall Exchange betweene Country and Country in the Ballance of trade. Such as is the Personall Exchange betweene party, and party: Such is the Prouinciall Exchange betweene Coun­try and Country. That, respecteth the gaine of [Page 116]one Man with another: This, the gaine of one King­dome with another: That, concerneth the Subiect; This, the Soueraigue.

The Prouinciall Exchange, is that generall permu­tation before noted, which one Country maketh with another, in mony, in Merchandize, in all kind of Commerce. And therefore it may well bee sad to bee the Periphery or Circumference of the Circle of Commerce; and The Ballance of trade, the very Center of this Circle. For as in the Per­sonall Exchange betweene man and man, the gaine or losse of such Exchanging cannot bee knowne, but by the returne of the mony exchanged: that is, till that mony bee come backe in Exchange, which was at first deliuered, as is before declared: So also in the Prouinciall Exchange betweene Country and Country, the gaine or losse which one Kingdome maketh vpon another, cannot bee knowne vntill the Returnes thereof bee made: that is, till the forraine Commodities bee brought in, for the Natiue Commodities issued and carried out; and both cast into the Ballance of Trade, to bee waighed and tried one against the other.

For as a paire of Scales or Ballance, is an In­uention to shew vs the waight of things, where­by we may discerne the heauy from the light, and how one thing differeth from another in the Scale of waight: So is also this Ballance of Trade, an excellent and politique Inuention, to shew vs the difference of waight in the Commerce of one Kingdome with another: that is, whether the [Page 117]Natiue Commodities exported, and all the for­raine Commodities Imported, doe ballance or ouerballance one another in the Scale of Com­merce.

If the Natiue Commodities exported doe waigh downe and exceed in value the forraine Commodities imported; it is a rule that neuer faile's, that then the Kingdome growe's rich, and prosper's in estate and stocke: because the ouer­plus thereof must needs come in, in treasure. But if the Forraine Commodities imported, doe exceed in value the Natiue Commodities expor­ted; it is a manifest signe that then trade decayeth, and the stocke of the Kingdome wasteth apace: because the ouerplus must needs goe out in trea­sure. As for example: If this Kingdome send out Clothes and other the Natiue Commodities thereof into forrain parts, which are there sold for one thousand pounds of our mony in value; and receiue backe againe in returne, the forraine Com­modities of other Kingdomes to the value of eight hundred pounds, for the thousand pounds sent out, it is manifest that the other two hun­dred pounds, being also due to this Kingdome, must needs come in, in treasure, to ballance and make euen the thousand pounds at first sent out. Which of necessity, must either come in, in mo­ny or merchandize: if not in mony, then in merchandize: if not in merchandize, then in mo­ny: and consequently the more come's in, in mo­ny, the lesse in merchandize: and the lesse in merchandize the more in mony. But if this King­dome [Page 118]shall receiue in, twelue hundred pounds in value of the forraine Commodities of other Kingdomes, for the thousand pounds sent out, then it is manifest, that this Kingdome spendeth more of the forraine, then other Kingdomes doe spend of our Natiue Commodities, by two hun­dred pounds in the value of one thousand pounds: whereby this Kingdome is become so much in debt to those forraine Kingdomes: which of necessity must goe out from hence in treasure, to satisfie that which was brought in, more then that which was carried out. And this exper­iment is therefore called The Ballance of Trade. Which you may yet more illustrate, if you consi­der the Forme, and the End thereof. In the One, there's a Quo modo: In the Other, there's a Cui bono. How it may bee done, in the One: Why it may be done, in the Other. There's a be­nefit in both, and both within the Circle of Com­merce.

Wee will therefore consider this Forme, first Comparatiuè, §. 29. The Compa­ratiue forme of the Bal­lance. and then Positiuè. In the former wee will compare and conferre together, some Formes of Former and Later times. In the other wee will collect the state of the Present time, and digest the same into a Ballance of Trade.

The Comparison shall bee of two prece­dent Formes which I haue found out. Whereby it may appeare, that this Ballance of the King­domes trade is no conceit or Nouelty, but hath been the wisdome and policy euen of elder times; to make a priuy search and strict enquiry, by this [Page 119]kinde of scrutiny, into the state of times and trades. The former of these Precedents, shalbe an ancient Ballance of Trade, which is said to bee found vpon Record in the Exchequer in the eight and twentieth yeere of Edward the third,In the Manu­script before mentioned, in P. 18. thereof. in this forme following. Viz.
One and thirty thousand six hundred fifty one sacks and a halfe of Wooll at six pounds value each sack, amount to L 189909.00.00195982.01.08
Three thousand thirty six hundred sixty fiue Fels, at forty shillings value each hundred of six score, amount to L 006073.01.08
Whereof the Custome amount's to,081624.01.01
Fourteen Last, seuenteen dicker & fiue hydes of leather, after six pounds value the last.000089.05.00
Whereof the Custome amount's to,000006.17.06
Foure thousand seuen hundred seuen­ty foure Clothes and a halfe, after forty shillings value the Cloth, is, L 9549.00.0016266.18.04
Eight thousand sixty one peeces & a halfe of worsted, after sixteen shillings eight pence value the peece. L 6717.18.4
Whereof the Custome amount's to,000215.13.07
Summa of the Out-carried Commodi­ties in value & Custom amounteth to294184.17.02
One thousand eight hūdred thirty two Clothes, after six pounds value the cloth010992.00.00
Whereof the Custome amount's to000091.12.00
Three hundred ninety seuen quintals and three quarters of waxe, after forty shillings value the hundred or quintall000795.10.00
Whereof the Custome is000019.17.05
One thousand eight hundred twenty nine Tunnes and a halfe of Wine, after forty shillings value the Tun, amoū'ts to003659.00.00
Whereof the Custome is000182.19.00
Linnen Cloth, Mercery, and Grocery wares, & all other manner of merchādize022943.06.10
Whereof the Custome is,000285.18.03
Somma of the In-brought Commodi­ties in value and Custome is038970.03.06
Somma of the In-plusage of the Out-carried aboue the In-brought Commo­dities amountch to255214.13.08

The other shall be of a Ballance of trade of fre­sher memory,§. 30. made in the eleuenth yeere of the raigne of our Soueraigne Lord the King, by or­der of the right Honourable the Lords of his Ma­iesties [Page 121]most Honourable Priuy Counsell, vpon the motion of the now right Honble The Earle of Middlesex, Lord Treasurer of England. It was made in this forme. viz.

Merchandize Exported from Christmas An. 1612. to Christmas An. 1613.
Custome of the Port of London061322.16.07
Custome of the Out-Ports025471.19.07
Wrappers being the tenth Cloth, Bay, and Cotton007000.00.00
Fish of our owne fishing, and freed from Custome by statute007000.00.00
Forraine Goods Imported and Expor­ted again, free of Custome by Priuy Seale003737.04.05
The Totall of the Custome.104532.00.07
The which is the twentieth part of Goods Exported: and being multiplied by twenty, produceth the value of all the Exportations to be2090640.11.08
The Custome of these Goods amounts to0086794.16.02
The Impost paid Out-wards0010000.00.00
The Merchants Gaines, fraight, and other petty Charges here and abroad0300000.00.00
The Totall of all the Exportations.2487435.07.10
Merchandize Imported from Christmas An. 1612. to Christmas An. 1613.
Custome of the Port of London048250.01.09
Custome of the Out-ports013030.09.09
Custome of the Silks015477.00.00
Custome of Venice Go [...]d and Siluer000700.00.00
Custome of French Wines002000.00.00
Custome of Spanish Wines001200.00.00
Allowance of 5. per Cento004000.00.00
To bee added for the vnderrating of Silkes one third part of that they cost, valued at 12000. pounds.004000.00.00
To bee added for the vnderrating of Wines, two third parts of that they cost006400.00.00
To be added for the vnderrating of Linnen and other Merchandize, one third per Cento for 36000. pounds.012000.00.00
The Totall of the Custome.107057.11.06
The which is the twentieth part of the Goods Imported, and being multiplied by twenty, produceth the value of all the Importations to be2141151.10.00
The totall of all the Exportations, is2487435.07.10
The totall of all the Importations, is2141151.10.00
So there remaines more caried out, then is brought in this yeere, the Summe of0346283.17.10

In the Comparison of Those ancient,§. 31. with These moderne times, there's as great a difference, as there's a distance betweene them. For in the Former, there's an Example beyond Example, a great Exportation, a small Importation. In the Latter, the Exportation, the Importation, are ve­ry great in both. In the Former, the forraine Commodities haue little place or price: In the Latter, the farre fetch't and deare bought, are brought in price and vse. A great deale of Poli­cy, frugality may bee seene in the One: much prodigality, superfluity, may bee found in the Other. Yet in this latter, because we had the cast of the Ballance, and that the Exportation did ex­ceed the Importation, though infinitly short of the proportion of the former time; the Subiects prospered, Trade florished, Treasure was impor­ted: And it was such Treasure as stayed with vs, and went not againe from vs: nor were there such complaints knowne then, as now are heard in our streets. That Elder time, was like the Gol­den age: the Later, like the Siluer age: but the Present time, is like the Iron age. And therefore wee will passe from this Comparatiue, to the Po­sitiue forme of our Ballance, to bring to the Scale, the state of the present time and trade.

Wherein, because the other Formes are diffe­rent,§. 32. and as long as there are, Tot sensus quot ca­pita, as many mindes as men; euery man aboun­ding in his owne sense; so long there will be some dispute about any Forme: it will not bee imperti­nent, to speake a word of Caution, and then of [Page 124]the Constitution, of this Forme of ours. In which Caution, although his Maiesties Records, and bookes of Customes, are the best▪ and readiest di­rection, to leade vs to the value of the trade of the Kingdome, by the Customes of the Kingdome: yet because there are some things of speciall con­sideration, which cannot be discerned by the Cu­stomes: wee will therefore consider such things as are therein obuious vnto vs, in point of Expor­tation, and Importation. And first of either A part: and then of both together.

In our Exportations, wee are to reckon our forraine Commodities imported,§. 33. Caution in point of Ex­portation for the forming of a Ballance. and not spent in the Kingdom, but Exported againe into forrain trade, as the Natiue Commodities of the King­dome. Because whatsoeuer the Kingdome spen­deth not of the forraine, is all one, as that it spen­deth not of it's owne.

Also the Fishing trades, whether within his Maiesties Dominions or without, exercised by his Maiesties Subiects, are not to be discerned by the Customes, because the same is freed thereof by Statute: which must neuerthelesse be brought into the Scale of Exportation, by the discreet collection and obseruation of Iudicious Mer­chants, as part of the Kingdomes stock.

Also the Custome and petty charges, the fraight and Merchants gaine, must bee reasonably valued and cast into the Scale of Exportation: be­cause those are a part of the stock of the King­dome: for if that mony were not laid out in charges, it would bee imployed in the Natiue [Page 125]Commodities, to the encrease of the Kingdomes stock.

In our Importations, wee must consider,§. 34. Caution in point of Im­portation, for the forming of the Bal­lance. that much water is wont to goe by the Mill; which, al­though at first sight a man might thinke, might be set, like the Hares head against the Goose Gi­blets: yet certainly, there is a great waight hang's vpon the Scale of Exportation in this regard. For our Natiue Commodities, as Cloth, Tinne, Lead, and the like, are of great Bulk and Massie, and not easie to be stollen out: but the forraine Commo­dities are of small bulke, little in quantity, great in value: as Iewels, Cloth of Gold and Tissue, Venice Gold and Siluer thred, Silkes wrought and vn­wrought, Cambricks and Lawnes, fine Holland Cloth, Cuchanel, Tobacco, and the like: which as they are easie to be pocketed and conueyed, so are they very rich to be valued: and this one considerati­on alone, may turne the Scale of Importation much against vs, in the Ballance of Trade.

Also whereas in the Importation, the Custo­mes doe not lead a man so neere to the value of the goods, as in the Exportation: so that thereby you can neither know, what the goods imported cost with charges abroad, nor what the same are worth at home: there must bee due considerati­on had, of the one and the other in the Ballance of Trade. For if a Commodity cost 100. pounds sterling at Amsterdam, and is there paid for, by the Cloth of this Kingdome, and will yeeld but 90. pounds in England, and perhaps is rated in the Custome but at 60. pounds; yet the Importa­tion [Page 126]in the Ballance of Trade, is to be charged with the value of the Goods as they cost with charges, and not as they are worth to be sold, much lesse as they are rated in the Customes: because that which they cost more then they are worth, and more then at which they are rated in the Cu­stomes, is also part of the Stock of the Kingdome.

And lastly In both, in the Exportations I say, and Importations. §. 35. Caution in Exportation and Importa­tiō together, for the forme of the Ballāce of Trade. there must be Verity, there must not be Variety. The Collections must be truely made, and one forme must be duly obserued: least if the one be not Exact, or the other Various: the vn­certainty of either, may breed obscurity in both. For he that waigheth a draught, either with false waights, or such as are of different standards, can neuer tell whether he get or lose by his waight: euen so in the Ballance of Trade, if either the Col­lections be imperfect, or the forme of the Ballance different; you shall neuer knowe whether the Kingdome gaineth or loseth, by the cast of the Scale in the Ballance of Trade.

Therefore if it may seeme good to his Maiesties high wisdome, to grant a Commission euery yeare to some of his Maiesties principall Fermers of his Highnes Customes, and to some of the most ex­pert & iudicious Merchants of the City of London, and elswhere, to conferre & agree vpon a constant Forme to be kept euery yeare; & as constantly eue­ry year to take a Ballance of the Trade of the King­dome, according to the practice of other Princes and Countries; it will proue both facile and fami­liar vnto them, and an excellent Policy of State [Page 127]vnto the King & Kingdom, in the course of trade.

And now we will come to the Positiue Consti­tution of our owne Forme, to bring to the Ballance, §. 36. The positiue constitutiō of the forme of a Ballance for the present time & trade. the state of the present time and trade: wherein I will giue you a taste of one yeeres collections of the Kingdomes trade, in this forme following. viz.

The Ballance of the Trade of the Kingdome is Debitor, for all the Exportations of the Merchandize thereof, for one whole yeare, from Christmas An. 1621. to Christmas An. 1622. as followeth.
Custome of the Port of London50406.06.04
Custome of the Out-ports26756.18.00
The Custome of Wrappers of Clothes, Bayes, and Cottons, free of Custume, be­ing the tenth part of 50000. pounds, which is the Custome of them all.05000.00.00
The Custome of the Fish of our owne fishing, and which is freed from Custome by Statute, by computation07000.00.00
The Custome of Goods shipt out by Cer­tificate: viz. of forraine goods brought in, and for want of vent in the King­dome, shipt out againe: which are freed of Custome by his Maiesties gracious graunt of Priuy Seale08050.00.00
The Totall of all the Custome is97213.04.04
Which Totall being multiplied by twenty, because the Custome is valued by twelue pence in the pound, produceth the value of all the Goods Exported to amount vnto1944264.07.01
The Net Custome of which value, at twelue pence in the pound, the Wrap­pers, Fish, and Goods shipt out by cer­tificate deducted, is the 2. summes first before mentioned, and is0077163.04.04
The Impost of Bayes, Tinne, Lead, and Pewter, which onely are imposed outwards, amounteth to0007370.01.05
The Merchants gaine, fraight, and petty charges vpon 1944264. li. being the whole value of the Expor­tations as aboue appeareth, at 15. per Cento, is0291639.00.00
The Totall Exportations with char­ges, Amount to2320436.12.10
The Ballance of the Trade of the Kingdome is Creditor, for all the Importations of the merchandize thereof, for one whole yeare, from Christmas An. 1621. to Christmas An. 1622. as followeth.
The Custome of the Port of London68280.09.01
The Custome of the Out-Ports19579.02.06
The Custome of Wines of all sortes, all other Merchandize heing included in the former, is03200.00.00
The Custome amounts to91059.11.07
One third part thereof to be added, for the vnderrating of Goods in Custome, to that they are worth, or cost, is30353.03.10
Also the allowance of 5. per Cento vpon L 91059. 11. 7. is04552.19.07
The Totall Summe amounts to125965.15.00
Which totall, being multiplied by 20 produceth the value of all the Goods Im­ported, to amount vnto2519315.00.00
Fine Goods secretly conueied in­wards, more then outwards.0100000.00.00
The Totall Importations amount to2619315.00.00
The Totall Exportations2320436.12.10
The Remainder sheweth, that there is more imported this yeare then was Ex­ported, by the summe of0298878.07.02

So then wee see it to our griefe, that wee are fallen into a great Vnder-ballance of Trade with other Nations. Wee felt it before in sense; but now we know it by science: wee found it before in operation; but now wee see it in speculation: Trade alas, faile's and faint's, and we in it.

And now we are come to the End of this Bal­lance of Trade, §. 37. The End of the Ballance of Trade. which in Place is last, but in Purpose first & chiefs't, according to that in Philosophy, Finis est Principium in Intentione: The End is the beginning, in purpose and intent.

A Merchant when hee will informe himselfe how his Estate standeth, is said to take a Ballance of his Estate: wherin he collecteth and considereth all his Wares, and Monyes, and Debts, as if hee would cast euery thing into the Scale to bee tried by waight: Which is therefore in Merchants and Accomptants termes, so called a Ballance of Ac­compt, or a Ballance of Trade. And to what End doth he this? Surely to try in what Estate he is: whether he goeth forward or backward, whether he hath got or lost. And if it appeare to him by his Ballance, that his Gaine doth not answere his Expence; the first and last is, he must either Gaine more, or Spend lesse, or els looke to come behind hand.

A Father or Master of a Family, doth thus also consider his Estate, by comparing his Expence with his Reuenue: and if he finde, that his Expence exceedeth his Reuenue; either he must Lessen his charge, or els Consume his Estate.

The Royall Merchant, the Regall Father of [Page 131]that great family of a Kingdome, if Hee will know the Estate of his Kingdome, Hee will compare the Gaine thereof with the Expence; that is, the Natiue Commodities issued and sent out, with the Forraine Commodities receiued in: and if it appeare that the Forraine Commodities doe exceed the Natiue: ei­ther he must increase the Natiue, or Lessen the For­raine, or else looke for nothing else, but The decay of Trade: and therein The losse of his Reuenue, and Impouerishing of his People.

So then, the End of the Ballance of Trade, may be said either to be Propior, or Remotior. There's One End neerer hand; There's Another End farther off. One End of it is, to finde out The cause of the Malady: The other, to present a Medicable Re­medy, for the decay of trade.

Hic labor hoc opus erat: in both these I be­stowed my former time and paines,Free Trade published, An. 1622. in that Little tract of Trade, wherein I marshalled those Causes and Remedies, into their rancks, in the best order I could: and to which I referre those, that desire more distinctly to vnderstād the same, lest I should seem to Tautologize, after Malynes manner, in vnnecessary repetitions. For as all those Causes doe forcibly conduce vnto the Vnder-ballancing of Trade: so also the remouing of them, must needs concurre vnto the Remedy thereof: and you may safely conclude, that vntill the King­dome come to an Ouer-ballance of Trade, the cau­ses of the decay of Trade cannot be taken away: for the Decay of Trade, and the Ouer-ballance of Trade, cannot stand together.

But if all the Causes of our Vnder-ballance of Trade, §. 38. The causes of our vnder-bal­lance of trade, contracted to Pouerty, and Prodigality. might be contracted in two words, surely they might be represented, in two extremities of the Kingdome at this day: Pouerty alas, and Pro­digality. The Poore sterue in the streets for want of labour: The Prodigall excell in excesse, as if the world, as they doe, ran vpon wheeles. The one drawe's on the Ouer-ballance of Forraine Trade: The other keepe's backe in Vnder-ballance our Trade. The one causeth an Excesse in theirs: The other causeth a Defect in our owne. In the one, ther's Too much: in the other, ther's Too little: would God there were a good Medium in both.

What's the fruit of these things? The Sunne blusheth to see, the ground grones to carry, the persons of sauage cruell blood-shedders, vn­heard of monstruous murtherers of these times: who seeme to striue to out-strip Caiin and Iudas' sinnes. I want words to giue them titles! I know not to whom to liken them, vales to him whose they are! It make's me afraid of Idlenes and Ex­cesse: that These and Those, are all of one breed▪ He that's Idle, is fit for any Euill: He that's Pro­digall, is a prey to the Deuill. There was neuer more, nor more excellent Planters and Waterers, then in this age, in this Iland, in this City. Our Hemishphere is sprinkled and spangled, with gliste­ring Starres like the Firmament in a cleere night. If St. Hierome so long a gone said,Hieron. ad Paulinum. De Hierosoly­mis & de Britannia eaqualiter, patet aula Coelestis: Heauen is as wide open in Britaine, as in Hierusa­lem; what would he haue said, if he had seene [Page 133]this our cleere light of the Gospell at this day in this Kingdome? Is it possible then, that such match-lesse desperate deeds of darknesse, should be done in so cleare a light? Is it not a wonder, that the Seed being so good, the Soile so fertile, the Sowers so skillfull, that the Weeds, Such weeds should come vp so fast? No wonder at all! Be­cause the Enuious man come's by night, and sowes these Tares. But be not you discouraged yee worthy Workmen: The Lord of the haruest, will haue them growe together vntill the haruest. Goe on therefore, sowe the Lords seed, which is the Im­mortall seed of the Word of God. Fight the Lords battailes: bee instant in season, and out of season: cease not to teach, to refute, to correct, to in­struct: and pray continually, that this great Dra­gon, that old Serpent, which is come downe in­to the Earth, may not thus deuoure the people. You are The light of the world set vpon a hill: Shine forth yee glorious Lights: keepe on your course: breake through these Clouds: let no Pla­net obscure you: let no Erring Starre deceiue you: you are now placed in this lower Orb, you shall one day be fix't in an higher Region, where your Sunne shall bee the King of glory: your King the Blessed Trinity: your Law, Charity: and your Time, Eternity: there you shall shine in a Paradice of glory, for euer and euer.

The first End of our Bal­lance of trade is to shew vs the state thereof.If the people of this Kingdome were num­bred from Dan to Bersheba, I am perswaded, there were neuer more people, neuer lesse em­ployment: neuer more Idlenes, neuer so much [Page 134] Excesse! And this is the first End of our Ballance of Trade. It shewe's vs our Case in what Estate we stand: It shewe's the Causes of our Decay of trade: It represents those causes in Capitall Cha­racters, that he that run's may reade Excesse and Idlenes.

§. 39. The second End of the Ballance of Trade is to direct vs to the Remedy, which is to lessen our Im­portations.What's the other End of it? Surely to di­rect vs to the Remedy: which in a word, is no­thing els, but to make our Importations lesse, and our Exportations more. Our Importations may be lessened, by a restraint of such superfluous and vnnecessary things, as either we haue of our own, or can make our owne, as may best concurre with the Policy of Trade, and the Wisdome of the State, to which as it become's me, I humbly com­mend the same.

§. 40. Or to in­crease our Ex­portations. By Precept.Our Exportations may be Improued, either by Precept, or Practice. Longum Iter per praecepta, breue per Exemplum. Example is the best precept. Wee are sent to the Belgicke Pismire to learne a Precept, Prou. 30.27. and why not to the Belgicke Grashopper? For The [...] Ex multitudine dicitur. Sic Belgae per Mare, atque in omni terra multi. Arbch Hebrai­cè quasi Herbae: quia ex grami­ne locust. Belgae veròber­b [...] & radici­b [...] modicè vescuntur. Grashopper hath no King, yet they march out, all in Troupes. Wee need goe no further then the Low Countries, to learne this Lesson. Although, the Kingdome of Naples, the Signory of Venice, the Common-wealthes of Genoa, Florence, Milan, Marcelles, and many others, might teach vs the same thing; yet the Low Countries doe seeme to be an Epitome of all the Rest. Which certainly for Policy and Industry, may read a Lecture to all the other people of the world. There you shall see, their Gates stand wide open: you may carry [Page 135]out as much mony as you will: It is there held no Paradoxe, to let mony goe out, and yet not to want it within: because they haue an Eie to the Ballance of Trade; whereby they are assured, that although it may goe out at one dore, yet it will come in at another. But there you shall see no Excesse in superfluous consumptions of for­raine Commodities. No Proiects, nor Proiectors, but for the Common-good. All kind of Manu­factures inuented, that will fit the times, and please the mindes of forrain Nations. Their own Com­modities eased of charge, the forraine Imposed. Frugality, industry, policy, all working together for the publike. All kinde of Staples, of Corne, of Wine, of Cloth, of Fish, of Silk, of Spices, of Flaxe, of Hempe, of what not? And all these, not to breed or feed home-bred Consumption, but to main­taine Trade and Forraine Negotiation. For indeed their whole Country is nothing els, but a Maga­zin, a Staple, a Receptacle, of the Comodities of all other Countries. And this is a liuing Precept, a Patterne, a Forme, a plat-forme for our Imita­tion, for the encrease of our Exportation: and this will restore our ancient Ballance of Trade.

Or if it be too far for vs to goe to them to learn this Precept, they will come to vs. Looke vpon Norwich, Colchester, Bocking, Canterbury, and other Cities peopled with the Dutch. There you shall see at Home, what you might seeke Abroad. There you shall not see that grosse abuse committed, and so much complained of in our Old and New Draperies. The falsifying where­of [Page 136]hath diminished their quantities halfe in halfe. Which as it tendeth to a great lessening of our Exportations: so cannot the same possibly be re­couered, without reformation of this abuse in the Clothing of the Kingdome, which is the principall trade thereof. The Remedy come's on so slow, that it is to be feared, we shall need a Pre­cept also, from some of those of Norwich, Col­chester, or Canterbury, to helpe vs execute the Statute for Clothing, of 4. of the King. As for the difficulty in Perpetuanoes, the Reformation whereof is thought to want a new Law: I sup­pose vnder fauour, those may come vnder the name and title of dozens mentioned in that old Law, as doe Deuonshire and Hampshire Kersies, which are either double or single dozens, and so are Perpetuanes also. And it were better to haue fewer Lawes, with better Execution; then more Lawes, with more trouble and lesse vse.

From this Precept, §. 41. By Practice. wee come to the Practice, in the vse of those meanes, which Almighty God in great bounty offereth vnto vs, both Within, and Without the Land. Within the Land, wee haue Materials and Instruments. Ma­terials of our owne growth, Materials of forraine growth, none are wanting. Instruments wee haue of our owne Nation, Instruments of forraine Na­tions, none are wanting. We want not Meanes, if our Mindes bee not wanting: wee want not Action, if we wanted not Affection: but alas our children are brought to the birth, and there [Page 137]want's strength, to bring them forth. Or rather wee haue strength, and doe not put forth our strength: we haue meanes and vse it not. If I should tell you, that there is ten thousand pounds a yeare, cast away in the streets of one Citty in this Kingdome, it would seeme very strange! But he that will consider how many thousand persons there are in London, that giue to idle poore in the streets, and what one man commonly giue's in a yeare; may computate at least twice that Summe, giuen in the City and the Suburbs. This Summe of mony thus great, thus giuen, is not onely for the most part lost, but it make's the Citty swarme with poore, with idle poore: who as long as they can liue by begging, will neuer fall to wor­king, nor liue by labour. I speake not against any mans charity, but wish from my heart, that he that is charitable, were more charitable, so the same were not abused, or at least were better vsed, for the publique good. For there is not onely the losse of so great a summe, but of the exceeding great benefit also, which the employment thereof, in our Natiue and Forraine Manu­factures, would purchase to the publique; if the same were orderly collected, and prudently orde­red, for the Employment of the poore. Where­in I know not how to wish a greater glory to the City of London, then to haue the honour, to bee the Founder of so worthy a worke, to raise a Stocke, out of the free will offrings of the Citi­zens, and wisely to dispose thereof for the poore's employment: whereby all their owne poore [Page 138]might be set on worke; & an excellent patterne of piety and pitty, giuen to all the other Cities of the kingdom, to pursue so noble an enterprize by their good example. And it need not be thought to be a new charge to the City, for we see the thing is done already, onely it is not so well done: where­in my selfe, the vnworthiest of all her Citizens, had rather, if I were worthy, be the first, then the last, to further so happy & hopefull a worke. For it will bring to God, glory: to the King, honour: to the Kingdome, treasure: to the Subiects, trade: to the poore, employment: and proue by Gods blessing, a most excellent meanes, to encrease our Exportations, and to recouer our Ballance of Trade.

Without the Land, §. 42. Or Without the Land. the Persia trade will not let me passe, nor the Fishing neither without a word of either. Both these doe promise much supply vnto our Exportation. Both of them, are of very high and important consideration, for the honour and wel-fare of this Kingdome. The one is a worke for The King: the other for all The King­dome. The one, if wee will, is our owne: the other, vnlesse wee will not, may bee made our owne.

For the Trade of Persia, In the Persia trade. it needeth the glory of the Sunne, to dispell some clouds that doe ob­scure and hide from vs, the excellency of this Trade. Which if it will please His Maiesty to vouchsafe; I am persuaded it would proue a very happy Commerce vnto this Kingdome, not infe­riour vnto any forraine Trade. It promiseth to [Page 139]vent our Clothes and other our Natiue Commo­dities, in great abundance: to yeeld returnes of these Clothes, that will employ multitudes of our poore: to spare vs the treasure that now wee ex­port to the Indies, through the necessity of that trade: to employ many great Ships & good men, with much more fafety, then in those other trads: to furnish the other parts of the Indies by the meanes of that trade, without other supply from hence: to purchase the rich trade of the Red Sea, & the benefit of trading there from Port to Port in the Indian commodities; which in it selfe, will be another East Indian Trade: to turne the Current of the Trade of Persia from Turky; to the weak­ning of the Turks tyranny ouer the Christian world: Lastly to draw the employment of many Millions of mony into this Kingdome for the Persian silck; which the Venetians, Marcellians, and other Cities and Common-wealthes of the Italians, French, and Dutch, doe now employ in­to Turky, in that one Commodity onely: which by Gods blessing, we may be able to deliuer them as cheape from hence, as now they fetch it thence: with more contentment also to them, and more glory and gaine to vs, in the atchieuement of so high and noble an enterprize. And these are but two or three clusters, for a taste, of the fruit of the Land: This Canaan cannot be knowne, vntill you haue past ore Iordan: the perfection of it consit's in the fruition thereof. And this is also another meanes no lesse excellent, to enlarge our exporta­tion, and therin also to helpe the cast of our Scale, in the Ballance of Trade.


Last of all,§. 43. Or the Fishing Trade. for the Fishing Trade, Res ipsa lo­quitur: I shall need to say no more of that, if what is said were done. It is a worke that hath in it, vti­lity to inuite, and capacity to receiue, all the King­dome. Wherein the Ports, which are the walles and gates of the Kingdome, might bee supported, and trade imported to those Parts and places, which now are destitute thereof. Yea all the Cit­ties, or if you will the Counties, may find roome enough to employ their meanes in this trade. And surely if profit will not moue men, Auri sacra fa­mes is false, and nothing will moue them. There is no fiishing to the Sea, nor Sea-fare for the King­domes well-fare, to the fishing trade! wherein for the encouragement of the Aduenturers; it is fit, if so it may be thought fit in his Maiesties high wisdome and grace; that euery County, yea euery City if it will, may haue the mannaging and dis­posing of their owne aduentures, without any Ge­neral or promiscuous confusion with others, and with such Immunities, priuiledges, and encou­ragements conferr'd vpon them from the foun­taine of his Maiesties grace, as may at last bring that to action and execution, which wee haue so long had in discourse and contemplation. A braue desseigne it is, as Royall as Reall: as honourable as profitable. It promiseth Renowne to the King, Reuenue to the Crowne, treasure to the King­dome, a purchase for the land, a prize for the sea, ships for Nauigation, Nauigation for ships, Mari­riners for both: entertainment of the rich, em­ployment for the poore, aduantage for the ad­uenturers, [Page 141]and encrease of Trade to all the Sub­iects. A Mine of Gold it is: the Mine is deepe, the veines are great, the Ore is rare, the Gold is pure, the extent vnlimited, the wealth vnknowne, the worth inualuable. And this is also another meanes, not inferiour vnto any, for the recouery of our Exportations, in the Ballance of Trade.


THese meanes well pursued, and the Reme­dies of our former Discourse applied, & such other meanes added, as in the wisdome of the State, may be more seriously thought vpon, doubt­lesse will restore our ancien Ballance of Trade, and in it, the former florishing Commerce, which heretofore this Kingdome happily did enioy. This is that Prouinciall and indeed Potentiall Ex­change, betweene vs and forraine Countries, that must be the publique measure of all our Merchan­dize. This is that true Par of Exchange, that will not change, that hath no imposture, froth, nor fallacy to abuse vs with. This is the practice of forraine Princes, and their Pollicy in point of Commerce, to haue a continuall eie, to this Par pro Pari, the Ballance of Trade: whereby they en­rich their Countries, and winne ground of others that neglect the same. An instance is set before our eies, in that Spanish Proclamation, which clo­sely and couertly aimeth at the same thing, for the benefit of that Kingdome. This is that pro­spectiue sight, that will draw Commerce from a [Page 142]farre of,Quel miracle en nature se peult trouuer plus grand, que ceste ma­chine de vitre que fit con­struire Sapo­res Roy Per­sien? la quelle estoit si gran­de, qu'il estoit assis au Cen­tre d'icelle, comme en la sphere & ron­deur de la ter­re, voyant souz ses pieds les astres & estoiles qui se couchoient & leuoient: en sorte que cō ­bien qu'il fut mortel, il sem­bloit estre, sur toute la hau­tesse d'immor­talité. Theat. du mon­de. De l'excel­lence de l'hom­me. to a Princes eie. It is said of Sapor King of Persia, that he caused a great globe to bee made of Glasse, of such curiosity and excellency, that himselfe might sit in his throne, and he and it, in the Center thereof, and behold the motions and reuolutions of the Starres, rising and falling vnder his feet: as if he that was a mortall man, would seeme Immortall. And surely if a King would desire to behold from his throne, the various re­uolutions of Commerce, within and without his Kingdome; he may behold them all at once in in this Globe of glasse, The Ballance of Trade.

For indeed if there bee any vertue in the Theorick part of Commerce, that might attract a Princes Eie to be cast vpon it; surely it is in this kinde of Exchange, that one Country maketh with another in the Ballance of Trade. All the my­steries of other Exchanges are hidde in this my­stery. All the knowledge of Commerce, is pre­sented and represented to the life in this story, in this history. All the riuers of Trade spring out of this source, and empt themselues againe into this Ocean. All the waight of Trade falle's to this Center, & come's within the circuit of this Circle. This is that Par pro Pari, that waighe's down Ma­lynes Parity, Imparity, Impurity in the Scale: & is onely worthy of the Quaere, of th'enquiry of a King. This is that [...], the very Eie of the Eie: or it is [...] the pupill or apple of the Eie, or as the Rabbins calle it, the daughter or image in the Eie: the beauty, the ornament, the complement, the accomplishment of Com­merce.

And now at last I haue done with Malynes and with his Par, his Dispar of Exchange: and with Ariadnes thred, I haue got out of the Laby­rinth of his Little Fish, and his his Great Whale. Which hauing poised and found as light as vanity in the Ballance, and therefore deserue no place within the Circle of Commerce, I shall dismisse as sometimes St. Augustine did the Erronious wri­tings of the Maniches, with this farewell, that his Proiect pursued in both,In Manich. Lib. 13. cap. 6. is Puerile ludibrium, Principium truncum, medium putridum, finis ruinosus. A childish toye, a blockish beginning, a rotten middle, and a ruinous end. Or with the same Father, that it is Paries doalbatus, In Psal. 103. foris tecto­rium, intus lutum. It's like a Mudde walle; dawb'd or'e without, all durt within. And such also is his Little Fish, such his Great Whale: full fraught with stolen stuffe, out of French Copies, Dutch Bookes, and English manuscripts: whole bookes swallow­ed vp in them for his owne: with which, those that are acquainted, will as easily point them out, as Ex vngue Leonem, to know The Lion by the pawe. The plants were good and prosper'd well, when they grew in their owne soile: but being pul'd vp by the rootes, and as ill transplanted, by an vnskillfull workman, in a barren ground ore growne with weeds: must needs be choackt, wi­ther, and hang their heads. I once thought to haue put an Index purgatorius, or an Errata to his Lex Mercatoria; but that I should haue seemed, to take vpon me one of Hercules labours, and as it is in the Prouerb, Augiae stabulum repurgare, To ferme or [Page 144]clense Augias stalles, which was a worke for Hercu­les onely. His Law Merchant, should haue Mer­chants Law, or rather Marshall Law, to haue been better purged, before it had been approued. I would Malynes had consulted with the wise man, to haue held his peace, that he might haue seemed wise.Sed Tacitus pasci si posset coruus, habe­ret, Plus Dapis, & vixae multò minūs inuidiae (que) Hor. Or that he had not been like to Horace his Crow, by too much chattering to loose his cheese: or like Aesops dog, pardon the word, by too much gaping to let falle his bone. Qualis vir, talis Oratio: the man is confused, and so is his matter. There's a peece in Ouid resemble's it right,

Quem dixêre CHAOS, rudis, indigestá (que) moles,
Nec quicquā nisi pondus iners congestá (que) eodem,
Non bene iunctarum discordia semina rerum.
A CHAOS rude it's call'd, confused heape,
A dull and heauy waight and nothing els,
Discording seeds ill mixt to sowe or reape
Confer'd in one, where all disorder dwel's.

Or if you will haue it neerer mach't, ther's a ma­ster-peece in Horace represent's it to the life,

Humano capiti ceruicem pictor equinam
Inngere si velit,
& varias inducere plumas:
Vndique coliatis membris, vt turpiter atrum
Desinat in piscem mulier formosa supernè:
Credite Pisones isti tabulae fore librum
Per similem, cuius velut aegri somnia, Vanae
Fingentur species, vt nec pes, nec caput vni
Reddatur formae. —
As if a Painter void of wit or Art,
Should represent mans head that lofty part,
And thereunto should ioine an Asses crest,
And deck with diuers feathers all the rest:
Strang parts cōferd, which Mermaidlike appeare
Black fish below, aboue a maiden cleare.
Trust me Malyn's, thine ill digested theame
Is like such pictures, like a sick mans dreame,
That faigneth formes, and yet in no degree,
Nor head, nor foot, will thereunto agree.

But not willing to be Censorious, I shall leaue him and it, to the sentence of the wise, with this my iust defence also, against his Censure, of Wilful­nes at least, though not of Ignorance: Little Fish Ep. dedic. P. 2. of both which he hath accused me, to no lesse, then The Maiesty of so great A King. But I haue thought it my happi­nes ô Caesar, to haue answered before Thee, of all these things,Apostrophe ad Regem. whereof I am accused and maligned of Malynes: For my Lord The King, is as an An­gell of God. Before whom I shall euer acknow­ledge, my want of knowledge: or if I know any thing, it is only this, Scire, me Nescire: to know, that I doe not know.

Alme Deus pellas coelesti lumine pellas
Ingenii Genii Nubila crassa mei:
Discere me doceas, dediscere caetera prae Te,
Scire nihil nisi Te, nam Tua scire sat est.

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