SELECT OBSERVATIONS Of the Incomparable Sir Walter Raleigh, Relating to Trade, Commerce, and Coin. As it was Presented to KING JAMES.

Wherein is Proved; That Our Money, our Sea and Land Commodities, serve to Enrich and Strengthen other Countries against Our OWN.

With other Matters of the highest Moment for the Publick Welfare.

LONDON; Printed for J. S. and are to be Sold by R. Baldwin, near Oxford-Arms-Inn in Warwick-lane, MDCXCVI.

Preface to the Reader.

THE Worth and Excellency of these Learned Obser­vations, are such, that 'tis wisht they were treasur'd up in the Breast and Memory of our Grave Senators, being a Subject worthy of their profound Consideration, and a Jewel of far greater Value in the English Crown, than the whole Produce of the Indies. The Name of the Author stamps it Standard Proof against all the efforts and false allays of Counterfeits, who slily, under the Masque of Publick Service, have insinuated their gild­ed Notions, and Essayed to make their Sophistical Positions, pass for Current Reason. 'Tis for this cause that now this Incomparable Author interposes, whom the World knows to have been free from Partiality and Self-interest; and that what he then advised, was from unfeigned Sincerity of Heart, and the great love he bore to his King and Country, and grounded on the unerring Rules of Experience; the Truth and Excel­lency of whose Judgement, is further confirmed by de­monstration of almost a hundred Years additional Expe­rience; and the Non-Observance of these golden Rules, have only made us so wise as to know the Nation to be in so much more a worse Condition than it was in his time.

I write not this from a Belief, that any thing I do, will or can add an Attom to the Universally Celebrated Memory and Honour of this Admirable Person, (no, I have not that Vanity) no more than I believe the great­est Mome can detract from the Truth and Authority of his Positions. I have presumed to add some things, ground­ed on the same Hypothesis, relating to our present Cir­cumstances, wherein, if I have Err'd, I submit to the censure of better Judgments.

J. S.


ACcording to my Duty, I am emboldened to put your Majesty in mind, that about Fifteen Years past, I presented you a Book of such Extraordinary Importance, for the Honour and Profit of your Majesty and Posterity; and doubting that it hath been laid aside and not consider'd of, I am Encourag'd (under your Majesties Pardon) to present unto you one more, consisting of Five Propositions: Neither are they ground­ed upon vain or idle Grounds, but upon the Fruition of those wonderful Blessings wherewith God hath endued Your Majesty's Sea and Land, by which means, you may not only enrich and fill your Coffers, but also encrease such Might and Strength (as shall appear, if it may stand with your Majesties good liking to put the same in Exe­cution in the true and right Form:) So that there is no doubt but it will make you in short time a Prince of such Power, and so Great, as shall make all the Princes your Neighbours, as well glad of your Friendship, as fearful to Offend you. That this is so, I humbly desire that Your Majesty will vouchsafe to peruse this Advertise­ment with that Care and Judgment which God hath given you.

Most humbly praying your Majesty, that whereas I presented these Five Propositions together, as in their own Natures, jointly depending one of another, and so linked together, as the Destruction of any one will be an apparent Maim and disabling to the rest; That Your Majesty would be pleased that they may not be separated, but all handled together jointly and severally by Commissioners, with as much speed and secrecy as can be, and made fit to be reported to Your Majesty, whereby I may be the better able to perform to Your Majesty that which I have promised and will perform upon my Life, if I be not prevented by some that may seek to hinder the Honour and Profit of Your Majesty, for their own private Ends.

The true Ground, Course and Form herein mentioned, shall make appear how other Coun­tries make themselves Powerful and Rich in all kinds, by Merchandize, Manufactory, and fulness of Trade, having no Commodities in their own Country growing to do it withal. And herein likewise shall appear how easie 'tis to draw the Wealth and Strength of other Countries to your Kingdom, and what Royal, Rich, and plentiful Means God hath given this Land to do it (which cannot be denied) for support of Traf­fick and Continual Employment of your People, for Replenishing of your Majesties Cof­fers: And if I were not fully assur'd to Improve your Native Commodities, with other Traffick, Three Millions of Pounds more Yearly than now they are, and to bring not only to your Majesties Coffers within the space of two or three Years, near Two Mil­lions of Pounds, but to encrease your Revenues many Thousands Yearly, and to please and greatly profit your People, I would not have undertaken so great a Work; All which will grow by Advancement of all kind of Merchandizing to the uttermost, there­by to bring Manufactory into the Kingdom, and to set on Work all sorts of People in the Realm, as other Nations do, which raise their Greatness by abundance of Your Native Commodities, whilst we are Parling and Disputing whether it be good for us, or not.

May it Please Your most Excellent Majesty.

I Have diligently, in my Travels observed how the Countries herein mentioned do grow Potent, with abundance of all things to serve themselves and other Na­tions, where nothing groweth, and that their never dried Fountains of Wealth, by which they raise their State to such an admi­rable Height, as that they are at this day even the Wonder of the World, proceedeth from your Majesties Seas and Lands.

I thus moved, began to dive into the depth of their Policies, and circumventing Practices, whereby they drain, and still covet to Ex­haust the Wealth and Coin of this Kingdom, and so with our own Commodities to weaken us, and finally beat us quite out of Trading in other Countries; I found that they more ful­ly obtained these their purposes by their con­venient Privileges, and settled Constitutions, than England with all the Laws and super-abundance of home-bred Commodities, which God hath vouchsafed your Sea and Land: And these, and others mentioned in this Book, are the urgent Causes that provoke me in my Love and bounden Duty to your Majesty and my Country, to address my former Book to your Princely Hands and Consideration.

By which Privileges they draw multitudes of Merchants to Trade with them, and many other Nations to Inhabit amongst them, which makes them populous, and there they make Store-houses of all Foreign Commodities, wherewith upon every Occasion of Scarcity and Dearth, they are able to furnish Foreign Countries with plenty of those Commodities, which before in time of plenty they Ingrossed and brought home from the same places, which doth greatly augment Power and Trea­sure to their State, besides the Common Good in setting their Poor, and People on Work.

To which Privileges, they add sinallness of Custom, and liberty of Trade, which maketh them flourish and their Country so plentiful of all kind of Coin and Commodi­ties, where little or nothing groweth, and their Merchants so flourish, that when a loss cometh they scarce feel it.

To bring this to pass they have many ad­vantages of us, the one is by their fashioned Ships called Boyers, Hoy-barks, Hoys, and others that are made to hold great bulk of Merchandize, and to sail with a few Men for profit; for Example, tho' an English Ship of 200 Tuns, and a Holland Ship, or any other of the States of the same burthen be at Dantzick, or any other place beyond the Seas, or in England, they do serve the Mer­chant better cheap by one hundred pounds in his Freight, than we can, by reason he hath but nine or ten Mariners, and we near thirty; thus he saveth twenty Mens Meat and Wages in a Voyage, and so in all other Ships according to their Burthen; by which means they are Freighted wheresoever they come, to great profit, whilst our Ships lye still and decay, or go to New-Castle for Coals.

Of this their smallness of Custom inwards and outwards, we have daily experience: For if two English Ships, or two of any other Na­tion be at Burdeaux, both laden with Winc, of 300 Tuns apiece, the one bound for Holland, or any other of the States, the other for England, the Merchant shall pay about 900 l. Custom here, and other Duties, when the other in Holland, or any other of the States, shall be Cleared for less than 50 l. and so in all other Wares and Merchandizes accordingly, which draws all Nations to Traffick with them: And altho' it seems but small Duties which they receive, yet the mul­titudes of all kind of Commodities that is brought in by themselves and others, and car­ried out by themselves and others, is so great, that they receive more Custom and Duties to the State, by the greatness of their Commerce in one Year, than England doth in two Years; for the one hundredth part of Commodities are not spent in Holland, but vented into other Countries, which maketh all the Country Merchants, to buy and sell and encrease Ships and Mariners to transport them.

My Travels and Meaning is not to dimi­nish (neither hath been) Your Majesties Re­venues, but exceedingly to encrease them, as shall appear, and yet please the People, as in other Parts they do.

Notwithstanding their Excizes bring them in great Revenues, yet whosoever will adven­ture to Burdeaux, but for six Tun of Wine, shall be free of Excize in his own House all the Year long; and this is done on purpose to animate and encrease Merchants in their Country.

And if it hap pen that a Trade be stopt by any Foreign Nation, which they heretofore [Page 2] usually had, or hear of any good Trading, which they never had, they will hinder others, and seek either by Favour, Money, or Force, to open the Gap of Traffick for Advance­ment of Trade amongst themselves, and Em­ployment of their People.

And when there is a New Course or Trade erected, they give free Custom inwards and outwards, for the better Maintenance of Na­vigation, and Encouragement of the People to that Business.

Thus They and Others glean the Wealth and Strength from us to themselves; and these Reasons following procure them this Advan­tage of us.

1. The Merchant-Staplers, which make all things in abundance, by reason of their Store-Houses continually replenish'd with all kinds of Commodities.

2. The Liberty of free Traffick for Stran­gers to Buy and Sell in Holland, and other Countries and States, as if they were Free­born, maketh great Intercourse.

3. The small Duties levied upon Merchants, draw all Nations to trade with them.

4. Their fashion'd Ships continually freigh­ted before ours, by reason of their few Ma­riners, and great Bulk, serving the Merchant cheap.

5. Their Encouragement to further all manner of Trading.

6. Their wonderful Employment of their Busses for Fishing, and the great Returns they make.

7. Their giving free Custom inwards and outwards, for any new erected Trade, by means whereof they have already engrossed almost the sole Trade of Europe into their hands, and have daily since this Worthy Au­thor made these Observations, made further Encroachments, to the great enriching of their State.

Furthermore all Nations may buy and sell freely in France, and there is free Custom outward twice or thrice in a Year, at which time our Merchants themselves do make their great Sales of English Commodities, and do buy and lede their great bulk of French Com­modities to serve for the whole Year; and in Rochel in France, and in Britany, free Cu­stom all the Year long, except some small Toll, which makes great Traffick, and makes them Flourish.

In Denmark to encourage and enrich the Merchants, and to encrease Shipping and Mariners, grant free Custom all the Year long for their own Merchants, except one Month between Bartholomew-Tide and Mi­chaelmass.

The Haunce Towns have advantage of us, as Holland, and other States have, and in most things imitate them, which makes them exceeding Rich and Plentiful of all kind of Commodities and Coin, and so strong in Shipping and Mariners, that some of their Towns have near one Thousand Sail of Ships.

The Merchandizes of France, Portugal, Spain, Italy, Turky, East and West Indies, England and Ireland, are transported most by the Hollanders and other States into the East and North-East Kingdoms of Pomerania, Spruceland, Poland, Denmark, Norway, Sweed­land, Leifland, and most places of Germany, Russia, &c. And the Merchandizes brought from these Kingdoms and Provinces, being wonderful many, are likewise by the Hol­landers and the other States most Transport­ed into the Southern and Western Domini­ons, as France, Spain, Italy, Portugal, England, Ireland, &c. and yet the Situation of Eng­land lieth far better for a Store-House to serve the South-East and North-East King­doms, than theirs doth, and hath far bet­ter Means to do it, if we will apply our selves to it.

No sooner a Dearth of Fish, Wine, or Corn here, and other Merchandize, but forthwith the Embdeners, Hamburgers, and Hollanders, out of their Stores and Magazines, lade one or two hundred Ships, or more, dispersing themselves round about this King­dom, and carry away great store of Coin and valuable Wealth, as is our Lead and Tin, &c. for little Commodity in those Times of Dearth, by which means they drain our Kingdom of their Riches, cut down and under-sell our Merchants, and decay our Navigation; but not with Com­modities of their Native Growth, but the Merchandizes of other Countries and King­doms.

Therefore 'tis far more easie for Your Ma­jesties Kingdom to serve our selves and others, to Encourage our Merchants in their profitable Trading, encrease our Shipping and Mariners, and strengthen Your King­dom, and not only keep our Money in our own Realm, which other Nations still rob us of, but bring in theirs, who carry ours away, and make the Bank of Coin and Magazines of all Stores to serve other Nations as well and far better cheap than they.

Amsterdam is never without Seven Hun­dred Thousand Quarters of Corn, besides the Plenty they daily vent, and little or none of this groweth in their own Coun­try: A Dearth in England, France, Spain, Italy, Portugal, and other Places, is truly ob­served to enrich Holland Seven Years after, and likewise the petty States.

For Example, the last Dearth six Years past, the Hamburgers, Embdeners, and Hol­landers, [Page 3] out of their Store Houses furnished this Kingdom; and from Southampton, Exeter, and Bristol, in a Year and half they car­ried away near Two Hundred Thousand Pounds from these Parts only; Then what great quantity of Coin was Transported round about Your Kingdom from every Port-Town, and Your City of London, and other Citties, cannot be esteemed so little as two Millions, to the great Detriment of Your Kingdom, and Impoverishment of Your People, discredit to the Company of Merchants, and great Dishonour and Shame of the Nation, that a State that hath little or no Corn in it of their own Coun­try Growth, should serve this Famous and Plentiful Kingdom, which God hath so blest and enabled for the Support of it self and others.

They have a continual Trade into this Kingdom, with five or six hundred Ships yearly (but now augmented to a far great­er Number) with Merchandizes of other Countries and Kingdoms, and store them up in their Magazines till the prices rise to their Minds, and we Trade not with fifty Ships into their Country in a Year, (and not much encreased at this time) and the same Number are about this Kingdom eve­ry Easterly Wind, for the most part, to lade Coals and other Merchandize. Unless there be a Scarcity, or Dearth, or high Prices, all Merchants do forbear that Place where great Impositions are laid upon the Mer­chandize, and those Places are slenderly shipt, ill served, and at dear Rates, and of­tentimes in Scarcity, and want Employ­ment for the People; and those petty States finding truly by Experience, that small Duties imposed upon Merchandize draw all Traffick unto them, and free Liberty for Strangers to buy and sell doth make continual Mart; therefore what Excises or Impositions are laid upon the Common People, yet they still easily uphold and main­tain the Merchants by all possible means, of purpose to draw the Wealth and Strength of Christendom to themselves; whereby it appeareth, though the Duties be but small, yet the Customs for Exportation and Im­portation do so abound, that they greatly encrease their Revenues, and make Profit, Plenty and Employment of all sorts by Sea and Land, to serve themselves and other Nations, to the Admiration of the whole World: And likewise the great Commerce which groweth by the same means, enableth the Common-People patiently to bear their Burthen laid on them, who by their con­stant Employ and Commerce, grow Rich even in a time War of, by their convenient and encouraging Privileges, and commodi­ous Constitutions.

There was an Intercourse of Traffick to Genoa, and there was the Flower of Com­merce, as appeareth by their ancient Re­cords, and their sumptuous Buildings, for all Nations Traded with Merchandize to them, and there was the Store-house of all Italy and other places; but after they had set a great Custom of 16 per Cent. all Na­tions left Trading with them, which made them give themselves wholly to Usury; and at this day we have not three Ships go thither in a Year; but on the contrary, the Duke of Florence built Legorn, and set small Cu­stoms upon the Merchandize, and gave them great and pleasing Privileges, which hath made a rich and strong City, with a flourish­ing State.

Furthermore, there are some Particulars needful to be consider'd, that the greatest Fishing the World has produced, is on the Coast of England, Scotland and Ireland; Ne­vertheless the great Fishery is in the Low-Countries, and other petty States, wherewith they serve themselves and all Christendom, as shall appear.

In four Towns in the East Kingdoms with­in the Sound, viz. Quinbrough, Elbing, Stetten, and Dantzick, there are carried and Vented in a Year, between Thirty or Forty Thou­sand Last of Herrings fold but at fifteen or six­teen Pounds the Last, is about six hundred and Twenty Thousand Pounds, and we none. Besides, Denmark, Norway, Sweden, Leifland, Rie, Nevil, the Narve, and other Port Towns within the Sound, there is carried and vented above Ten thousand Last of Herrings, sold at fifteen or sixteen Pounds the Last, is a Hundred and sixty Thousand Pound more Yearly: In such request are our Herrings there, that they are often Sold for 20, 24, 30, and 36 Pounds the last, and we send not one Barrel into all those East Countries.

The Hollanders send into Russia near fifteen hundred Lasts of Herrings, Sold at about 30 Shillings the Barrel, amounteth to Twenty se­ven Thousand Pounds, and we but about Twenty or Thirty Lasts.

To Stroad, Hambrough, Breamen, and Embden, upon the River Elbe, VVeaser, and Embs, are carried and vented of Fish and Herrings, about six Thousand Lasts, Sold at about fifteen or sixteen Pounds the Last, or more, is a Hun­dred Thousand Pounds, and we none at all. Cleaveland, Gulickland, up the River Rhine to Collen, Frankfort, on the Maine, and so over all Germany, is carried and vended Fish and Her­rings near Twenty two Thousand Lasts, Sold at 20 Pounds the Last, is Four Hundred and Forty Thousand Pounds, and we none.

Up the River Maze to Leige, Mastricht, Vendlow, Zutphen, Davanter, Campen, Swoole, and all over Liefland is carried and vented [Page 4] Seven Thousand Lasts of Herrings, Sold at Twenty Pound the Last, is a Hundred and Forty Thousand Pounds; and we none.

To Gilderland, Artois, Hanault, Brabant, Flanders, up the River of Antwerp, all over the Arch Dukes Countries, are carried and vended between Eight or Nine Thousand Lasts, Sold at eighteen Pounds the Last, is a Hundred and Sixty Thousand Pounds; and we not a half Penny worth.

The Hollanders and others carried of all sorts of Herrings to Roan only in one Year, besides all other parts of France, Fifty Thou­sand Lasts of Herrings, Sold at 20 Pounds the Lasts, is one Million of Pounds; and we not one Hundred Last thither: They are sold often there for 24 and 30 Pound the Last.

Between Christmas and Lent, the Duties for Fish and Herrings came to Fifteen Thousand Crowns at Roan, only that Year the late Queen deceased: Sir Thomas Parrie was then Agent there, and S. Savors his Man knows it to be true, who handled the business for pulling down the Impositions. Then what great Sums of Money came the Duties to of all his Port Towns, to the great enriching the French Kings Coffers, and to the great enrichment of many other Kings and States throughout Chri­stendom, and the great quantities vended in the Streights, besides what is spent in the Low Countries, amounting to many a Hun­dred Thousand Pounds Yearly, ought not to be forgot, and the Stream to be turn'd to the Good of this Kingdom, to whose Sea-coasts God only hath sent and given these great Blessings, and multitude of Riches for us to take, however it hath thus long been neglected to the great Damage and dishonour of this Kingdom, that any Na­tion should yearly carry away out of this Realm great Masses of Mony, for Fish ta­ken in our own Seas, and Sold again by them to us, which must needs be a great loss and hinderance to this Nation. From the Port Town of any Kingdom in Christen­dom, the Bridgemaster or the Whafsinger for Twenty Shillings a Year will deliver a true Note of the Number of Lasts of Her­rings brought to their Wharfs by us, and the Prices they are Sold at; but the Number brought to Danzick, Collen, Rotterdam, and Enchusen, &c. is so great, as it will cost more than three, four, or five Pounds for a true Note.

The abundance of Corn groweth in the East Kingdoms, but the great Store-houses for Grain to serve all Christendom, and the Heathen Countries in time of Dearth, is in the Low Countries, wherewith upon every occasion of Scarcity and Dearth they do in­rich themselves seven Years after, employ their People, and get great Freights for their Ships in other Countries, whilst we have none in that Course.

The mighty Vineyards and store of Salt is in France and Spain, but the great Vintage and Staple of Salt is in the Low Countries, and they send yearly near One Thousand Sail of Ships with Salt and Wine only into the East Kingdoms, yearly besides other places, and we not one in that Course or Trade.

The exceeding Groves of Wood are in the East Kingdoms, but the huge Piles of Wain­scot, Clapbord, Fir-deal, Masts, and Timber is in the Low Countries, where none grow, wherewith they serve themselves, and other parts, and this Kingdom with those Commo­dities. They have five or six hundred great long Ships continually using that Trade, and we but a few. The Wool, Cloth, Lead, Tin, and divers other Commodities are in England, but by means of our Wool and Cloth going out ruff, undrest, and undy'd; there is an exceeding Manufactory and Drapery in the Low-Countries, wherewith they serve themselves and other Nations, and advance greatly the Imployment of their People at home, and Traffick abroad, & put down ours in foreign Parts, where our Mer­chants Trade unto, with our own Commodities.

We send into the East Kingdoms yearly but one hundred Ships, and our Trade chiefly de­pends upon three Towns, viz. Elbing, Kingsbo­rough and Dantzick, for making our Sails, and buying their Commodities, sent into this Realm at dear Rates, which this Kingdom bears the burden of. Our Trading to these parts, and some others, is much improved since, but still may bear nigh the same Proportion.

The Low-Countries send into the East King­doms yearly about 3000 Ships, trading into every City and Port-Town, taking the Ad­vantage, and venting their Commodities to exceeding profit, and buying and lading their Ships with plenty of those Commodities, which they have from every of those Towns 20 per Cent. better cheap than we, by reason of the difference of Coin; and their Fish yields rea­dy Money, which greatly advanceth their Traffick, and decayeth ours.

They send into France, Spain, Portugal, Italy, from the East Kingdoms that passeth through the Sound, and through Your Narrow Seas, year­ly of the East Country Commodities, about 2000 Ships, and we none in that Course.

They Trade into all Cities and Port-Towns in France, and we chiefly but to five or six.

They Traffick into every City and Port now round about this Land, with five or six Hundred Ships yearly, and we chiefly but to three Towns in their Country, and but with Forty Ships.

Notwithstanding the Low-Countries have as many Ships and Vessels as Eleven Kingdoms [Page 5] of Christendom have, let England be one, and Build every Year near 1000 Ships, and not a Timber Tree growing in their own Country, and that all their home-bred Com­modities that grow in their Land in a Year, (less than one Hundred good Ships are able to carry them away at one time,) yet they handle the matter so well for setting them all on Work, & that their Traffick with the Hanse-Towns exceeds in Shipping all Christendom.

We have all things of our own in Super­abundance to increase Traffick, and Timber to build Ships, and Commodities of our own to lade about 1000 Ships and Vessels at one time, (besides the great Fishing) and as fast as they have made their Voyages might relade again, and so Year after Year, and all the Year long to continue; and yet our Ships and Mariners decline, and Traffick and Mer­chants daily decay.

The main Bulk and Mass of Herrings, from whence they raise so many Millions yearly that inrich other Kingdoms, Kings and States Coffers, and likewise their own People, pro­ceedeth from Your Majesties Seas and Lands, and the return of the Commodities and Coin they bring home in Exchange of Fish, and other Commodities, are so great, as would re­quire a large discourse apart; all the amends they make us is, they beat us out of Trade in all parts with our own Commodities.

For instance, we had a great Trade in Russia Seventy Years, and about 14 Years past we sent Store of goodly Ships to Trade in those Parts, and three Years past we sent out but Four, and this last Year two on three: But on the contrary the Hollanders about twenty Years since Traded thither with two Ships only, yet now they are increased to about Thirty or Forty (and at this time to many more) and one of their Ships is as big as two of ours, and at the same time (in their Trou­bles there) that we decreased in Trade they greatly increased, (the same may now fitly be applyed to the present Circumstances that the War hath not improverisht them, but their Trade greatly increased thereby, and the great advantage they have of us in the East-India Trade, and others, is obvious) but the chiefest Commodities they carry with them to Russia, is English Cloth, Heilings taken in our Seas, English Lead, and Pewter made of our Tin, besides other Commodities; all which we may do better and cheaper than they, if we knew the value of our own Com­modities, and would apply our selves to do it. And altho' it be a cheap Country, and the Trade very gainful, yet we have almost brought it to Naught, by disorderly Trading, joint Stocks (now called Stock-jobbing) and the Merchants banding themselves one against an other.

So likewise we used to have eight or nine great Ships to go continually a Fishing to Ward house, and this Year but one, and so pro rata they out do us in all kind of Fishing and Merchandizing in all Countries, by rea­son they spare no Cost, nor deny any Pri­viledges that may Incourage the advancement of Trade and Manufactory.

Now if it please, and with Your Majesties good liking stand,

To take notice of these things, which I have Conceived to be fit for Your Majesties con­sideration, which in all humbleness (as duty bindeth me) I do tender unto Your Majesty for the unfeigned Zeal I bare to the advance­ment of Your Honour and Profit, and the ge­neral good of Your Subjects; it being apparent that no three Kingdoms in Christendom can compare with Your Majesties for Support of Traffick, and the continual imployment of Your People within themselves, having so many great means both by Sea and Land to en­rich Your Coffers, multiply Your Naval strength, enlarge Your Traffick, make Your Kingdoms powerful, and Your People Rich; yet through Idleness they are Poor, wanting imployment, many of your Land and Coast Towns much ruinated, and your Kingdom in great need of Coin, your Shipping, Traf­fick and Mariners decay, whilst Your Maje­sties neighbouring Princes, without these means, abound in Wealth, inlarge their Towns, increase their Shipping, Traffick, and Ma­riners, abound in Coin, and find out such imployment for their People, that they are all advantagious to their Common Wealth, and this only by ordarining Commodious Con­stitutions in Merchandizing, and fullness of Trade in Manufactory, and the Effectual keep­ing their Coin at home.

God hath Blessed Your Majesty with incom­parable Blenefits.

As with Copper, Lead, Iron, Tin, Al­lum, Copperas, Saffron, Fells, and divers other Native Commodities, to the Number of about one Hundred, and other Manufactories vendible to the number of about one Thou­sand, besides Corn, whereof great quantity of Beer is made, and most transported by Strangers, as also Wool, whereof much is Shipped forth unwrought, and Cloth and Stuffs transported undrest and undied, which doth employ and maintain near Fifty Thousand People in Foreign Parts; Your Majesties People wanting the Imployment in England, many of them being inforced to live in great want, and seek it beyond Seas.

Coals which do imploy Hundreds of Stran­gers Ships yearly to transport them out of this Kingdom, which we only ought to do [Page 6] whilst we do not Employ Twenty Ships in in that Course. Iron Ordinance, which is a Jewel of great value, far more than it is ac­counted, by reason that no other Country could ever attain unto it, altho they have assayed with great charge.

Your Majesty hath Timber of your own for building of Ships, and Commodities plen­ty of your own growth, and Manufactories to lade them, which Commodities other Nations want, nor cannot well be without, and yet Your Majesties People decline in Shipping, Mariners, Traffick, &c.

These Inconveniences happen by three Causes especially, viz.

1. The unprofitable course and Method of Merchandizing.

2. The want of compleat and full Manufac­tory of our home bred Commodities.

3. And chiefly the undervaluing of our Coins, contrary to the Rules of other Nations.

For instance.

The Merchant Adventurers by overtrading upon Credit, or with Money taken upon Ex­change, whereby they lose usually Ten or Twelve, and sometimes Fifteen or Sixteen per Cent. are inforced to make Sale of their Cloths at under rates, to keep their Credit, whereby Cloths being the Jewel of the Land, are under­valued, and the Merchant in short time eaten out.

The Merchants of Ipsovich, whose Trade for Elbing is chiefly for fine Cloths, and some few sorting Cloths, all died and drest within our Land, do for the most part, buy their fine Cloths upon Time, and by reason they go so much upon Credit, they are enforced (not being able to Stand upon their Markets) to sell, giving fifteen or eighteen Months time of payment for their Cloths, and having Sold them, they then presently sell their Bills, so taken for Cloth, allowing after the Rate of fourteen or fifteen, and sometimes twenty per Cent, which Mony they imploy forthwith in Wares at excessive prices, and lose as much more that way, by that time their Wares be Sold at home. Thus by over-running them­selves upon Credit, they disenable themselves and others, inhanceing the price of Foreign Commodities, and pulling down the Rates of our own.

The West Country Merchants that Trade with Cloths into France, or Spain, do usually employ their Servants, (young men of small experience) who the by cunning Combining of French and Spanish Merchants, are so en­trapped, that when all Customs and Charges be accompted for, their Masters shall hardly receive their Principal Moneys. As for Re­turns one of France, their Silver and Gold is so highly valu'd that our Merchants cannot bring it home, but to great loss; therefore the French Merchants set higher rates upon their Com­modities, which we must either buy dear, or let our Money lie dead there a long time, until we may conveniently employ the same.

The Northern Merchants of York, Hull, and Newcastle, trade only in White Kersies and co­lour'd Dozens, and every Merchant, be his Adventure neverso great, doth for the most part send over an unexperienc'd, Youth, unfit for Merchandizing, which bringeth to the Stran­ger great advantages, but to his Master and Common-wealth great loss and hindrance; for they before their Goods be landed, go to the Stranger, and buy such quantities of Iron, Flax, Corn, and other Commodities, as they are bound to lade their Ships withal, which Ships they engage themselves to re-lade within three Weeks or a Month, and do give the price the Merchant-Stranger asketh, because he gives them Credit, and lets them Ship away their Iron, Flax, and other Commodities, before they have sold their Kersies, and other Com­modities, by which means extraordinary dear Commodities are return'd into this Realm, and the Servant also inforc'd to sell his Cloths under rate, and often times to loss, to keep his Credit, and to make Payment for the Goods before shipt home, having some twenty days or a Months respit to sell the Cloths, and to give the Merchant Satisfaction for his Iron, Flax, and other Wares; by which Extremi­ties our home-bred Commodities are abased.

Touching Manufactory.

There have been about 80000 undrest and undied Cloths yearly transported.

It is therefore evident, that the Kingdom hath been yearly deprived of 400000 Pound within this five and fifty Years, which is near twenty Millions, that would have been gain'd by the Labours of poor Workmen in that time, with the Merchants gains for bringing in of Dying Stuffs, and return of Cloths drest and died, with other Benefits to the Kingdom, be­sides the exceeding encrease of Traffick, Ships, and Mariners.

There would have been gained in that time about three Millions, by encrease of Custom upon Commodities return'd for Cloths drest and died, and for dying Stuffs, which would have more plentifully been brought in and used for the same.

There hath been also transported in that time yearly by Bays, Northern and Devon­shire Kersies white, about fifty thousand Cloths, counting three Kersies to a Cloth, whereby hath been lost about five Millions by those sorts of Cloths in that time, which would have come to poor Workmen for their La­bour, with the Customs for Dying Materials, [Page 7] and the Merchants profit for bringing them in, with returns of other Commodities and Fraighting of Ships.

Bays are transported white into Amsterdam, and being there drest and died, are shipe in­to Spain, Portugal, and other Kingdoms, where they are sold in the name of Flemish Bays, set­ting their own Town Seal upon them, so that we lose the very name of our home-bred Com­modities, and other Countries get the Repu­tation and Profit thereof: Most deplo­rable it is that this Kingdom should be depri­ved of so many Millions above-mention'd, and that our Native Commodities of Cloth, or­dain'd of God for the natural profit and good of your Subjects, being so Royal and Rich in it self, should be driven to so small advantage of Reputation and Profit to Your Majesty and People, and so much improv'd, and intercep­ted by Strangers, considering that God hath enabled, and given Your Majesty, power to advance Dressing and Dying, and Transport­ing of all your Cloths, within a Year or two; I speak it knowingly, to shew it may be done laudably, lawfully, and approved to be ho­nourable, feasable, and profitable.

All the Companies of your Land transport their Cloths drest and died, to the good of Your Kingdom, except the Merchant-Adven­turers, whereby the Eastland and Turky Mer­chants, with other Companies, do encrease Your Majesties Customs by bringing in, and spending Dying Stuffs, and setting your Peo­ple on work, by Dressing before they transport them; and they might encrease far more Cu­stom to Your Majesty, and make much more profit to themselves, and this Nation, and set many thousands of poor People more on work for dressing and dying, and likewise employ more Ships and Mariners for bringing in Dy­ing Stuffs, were it not for the Merchant-Adven­turers, who transport their Cloths white, rough, undrest and undied, into the Low-Countries, where they sell them to the Stranger, who af­terwards dress, die, and stretch them to such unreasonable lengths, contrary to our Law, that they prevent and forestall our Markets, and cross the just Prohibitions of our State and Realm, by their Agents and Factors lying in divers places with our own Cloths, to the great decay of this Kingdom in general, and discredit of our Cloths in particular.

If the Accompt were truly known, it would be found that they make clear profit, only by Cloth transported rough, undrest and un­died, 60000 l. a Year: But it is most apparent Your Majesty in your Customs, your Mer­chants in their Sales and Prices your Subjects in their Labours, for want of not Dressing and Dying, your Ships and Mariners in not bringing in of Dying Stuffs, and spending of Allom, are hindred yearly near a Million of Pounds, so that Trade is driven in to the great damage &hindrance of Your Majesty and People, by per­mitting your Native Commodities to pass rough, undrest, and undied, by the Merchant-Adventurer.

Touching Fishing.

The great Sea business of Fishing doth Im­ploy near 20000 Ships, and Vessels, and 400000 People are imployed yearly upon your Coast of England Scotland, and Ireland, with 60 Ships of War, which may prove dangerous.

The Hollanders only have about 3000 Ships to Fish withall, and 50000 People are im­ployed yearly by them upon Your Majesties Coasts of England, Scotland, and Ireland.

These Three Thousand Fishing Ships and Vessels of the Hollanders, do imploy near 9000 other Ships and Vessels, and 150000 Persons more by Sea and Land, to make pro­vision to cure and transport the Fish they take, and return Commodities, whereby they are inabled, and do build yearly 1000 Ships and Vessels, having not one Timber Tree growing in their own Country, nor home bred Com­modities to lade 100 Ships, and yet they have 20000 Ships and Vessels, and all imployed.

King Henry the 7th desirous to make his Kingdoms powerful and Rich, by encrease of Ships and Mariners, and employment of his, People, sent unto his Sea Coast Towns, moving them to set up the great and Rich Fishing, with promise to give them needful Privileges, and to furnish them with Loans of Money, if need were, to encourage them, yet his People were slack. Now since I have traced this business, and made my endeavours known un­to Your Majesty, your Noble Men, able Mer­chants, and others, (who having set down un­der their hands for more assurance) promised to disburst large Sums of Money, for the build­ing up of this great and Rich large Sea City, which will increase more Strength to your Land, give more comfort, and do more good to all your Cities and Towns, than all the Companies of your Kingdom, having fit and needful Priviledges, for the upholding and strengthening of so weighty and needful a business.

For example, 20 Busses built and put into a Sea Coast Town where there was not one Ship before; there must be to carry, recarry, transport, and make provision for one Buss, three Ships; likewise every Ship setting on work 30 several Trades and Occupations, and 8000 Persons by Sea and Land, inso­much as 300 Persons are not able to make one Fleet of Nets in four Months for one Buss, which is no small employment, with increase of a Thousand Mariners, and a Fleet of 80 Sail of Ships to belong to one Town, where none were before, to take the Wealth out of the Sea, to enrich and Strengthen the Land, and this only by raising of 20 Busses.

Then what good one Thousand, or two Thousand will do, I leave to Your Majesties consideration.

[Page 8] It is worthy to be Noted, how necessary Fi­shermen are to the Common Wealth, and how needful to be advanced and cherished, viz.

1. For taking Gods blessing out of the Sea to enrich the Realm, which otherwise we lose.

2. For setting the People on Work.

3. For making plenty and cheapness in the Kingdom.

4. For the encrease of Shipping, to make the Land formidable against its Enemies.

5. For a continual Nursery for Breeding and the Encreasing of Seamen.

6. For making Imployment for all sorts of People, as Blind, Lame, and others by Sea and Land, from Ten or Twelve Years and upwards.

7. For enriching Your Majesties Coffers, for Merchandize returned from other Countries for Fish and Herrings.

8. For the encrease and enabling of Mer­chants, which now droop and Decay, to the great loss of the Nation.

Touching the Coin.

For the most part, all Monarchies and free States, both Heathen and Christian, as Turkey, Barbary, France, Poland, and many others, do hold for a Rule of never failing profit, to keep their Coin at higher rates within their own Territories, than it is in other Kingdoms.

And for these causes,

1. To preserve the Coin within their own Territories.

2. To bring unto themselves the Coin of Foriegn Princes.

3. To enforce Merchant strangers to take their Commodities at high Rates, for want of which this Kingdom bears the Burthen.

For Instance.

The King of Barbary perceiving the Trade of Christian Merchants to increase in his Kingdom, and that the Returns out of his Kingdom were most in Gold, whereby it was much enhanced, raised his Ducket (being then Current for three Ounces) to four, five, and six Ounces; nevertheless it was no more worth in England, being so raised, than when it went for three Ounces.

This Ducket current for three Ounces in Barbary, was then worth in England 7 Shillings and 6 pence, and no more, being raised to 6 Ounces, since which time (adding to it a small piece of Gold) he hath raised it to 8, and lastly to 10 Ounces, yet at this day it is worth but 10 s. and one peny, notwithstanding Your Majesty's late raising of Your Gold.

Having thus raised his Gold, he then devi­sed to have plenty of Silver brought into his Kingdom, and by the same policy raised the Royal of 8, being but two Ounces, to 3 s. and 3 d. half peny, which caused great plenty of Silver to be brought in, and continue in his Kingdom. And it were to be wisht that we might follow the good Example of this advan­tagious Policy in this Juncture, when by the same Method we have brought great plenty of Gold into the Kingdom, and if we pursue it, (by advancing the value of our Silver) may not only keep what we already have, but also cause great plenty to be brought in and kept here, when we have it.


The English Jacobus goeth for 1 l. 3 s. in Merchandizing.

The English Crown for 7 s. and 6 d.

Also the King hath rais'd his Silver four Sols in the Crown.

North Holland.

The Double Jacobus goeth for 1 l. 3 s. Sterling.

The English Shilling is there 11 Stivers, which is two Shillings over in the Pound.


The K. of Poland raised the Hungarian Ducket from 56 to 77 ½ Polonish Groshes, and the Rix-dollar from 36 to 47 and ½ Groshes, the Rix-dollar worth in Poland 47, and ½ groshes, is by account in Poland 10 s. and 4 d. and in England is worth but 7 s. and 10 d. The Jacobus of England here Current (at that time) for 1 l. 2 s. in Poland 1 l. 4 s. at the rate of 7 s. 10 d. for the Hunga­rian Ducket.

Some additional Remarks and Observations Relating to Coin and Trade.

1. That Nation can only be in a prosperous Estate, that hath a proportionable quantity of Silver or Gold to ballance the Strength and Trade of its neighbouring Nations.

2. That whilst the Current Cash of this Kingdom can be converted into Bullion, and so made a trading Commodity (as hath been practis'd this hundred Years) 'twill either be convey'd to the best Market, or wrought in to Plate at home, notwithstanding the utmost ri­gour and vigilancy, to the great and daily Con­sumption of the Coin, and Detriment of the Nation.

That it is evident, notwithstanding those great Sums coin'd in the two last Reigns, 'twas no sooner made than converted into a trading Commodity (some inconsiderable Sums excep­ted, that hapt not into Hucksters hands) and if from the like Causes the same scarcity of Mill'd Mony should happen at any time hereafter (which God forbid) tho morally 'tis not im­possible for the reason above alledged, and as a part bears to the whole (that without raising the value of our Coin) the Nation may totally be drain'd of it, and may possibly be then at too great a distance to be had for calling for; and were there no more Silver now in the Nation, than the standard Mony that has past the tra­ding [Page 9] hands of Merchants and Goldsmiths, the Nation were in a deplorable and irreparable Condition.

3. That what Custom makes the Medium, Measure or Reward of Labour, Industry, and Commerce, is universally call'd Money, and ought not to be convertible to a trading Com­modity to the Publick Damage and diminution of the Species, be it what it will: For the stamp of Authority on a Brass Farthing for its cur­rency, for 12 d. would with Submission, better accommodate and suit the conveniency of our Domestick Commerce, than the Paucity of our glorious Silver Species, as our present Circum­stances demonstrate.

That 'tis a Truth beyond Contradiction, that the goodness and excellency of the Spanish Coin (tho dispersed thro' all parts of the Trading World) hath not been a means to enrich that Kingdom, nor the little esteem'd value of the current Cash of the Hollanders, a means to Impoverish them.

That raising the value of our Coin, is the on­ly certain means to keep it in the Nation, to make us a rich and thriving State, to recover our lost Trade, and the best Bulwark and De­fence against all the Attacks of our Enemies.

That diminishing the quantity, or raising the value of our Standard Coin is equivalent; but at this Juncture 'tis humbly thought more ad­vantagious tolessen the Weight, by reason the Nation would be at less Expence to make it good, as also being more commodious for Com­merce and Tale, when even parts of a Pound as before, than when Fractional, as must be if the value of the ancient Standard Weight be advanced.

That raising the value of our Coin, will be a dishonour to the Nation, seems an empty Notion, if Profit be join'd with it.

That our Silver Coin ought to bear a higher Value at home, than elsewhere, as well to bring it home, as we have already done the Gold, and to keep it here, as also encourage the bring­ing in of Bullion, which is now much wanted.

That contrary to the Policy of Nations, our standard Coin is of greater value in all places than at home (Spain only excepted) for which reason we bring Spanish Mony hither, and for the same Reason our Mony is transported to other places, to the great Impoverishment of the Nation.

That Gold and Silver is the commanding Species, and if we Export more than we Im­port, the Nation is so much a loser; and tho as a Gentleman observes, if we yearly send out Commodities to the value of 400000 Ounces of Silver more than the Commodities we bring home from abroad cost us there, is 100000 l. every year clear gain, which must come home in Mony or Bullion, and be a real encrease of our Wealth, and will stay here as he is pleased to think.

This over ballance of Trade, so much talk'd Fallacy, and may be a great loss to the Nation; for Example, if 400000 Ounces of Silver or Commodities be exported, and the worth of 800000 Ounces of unprofitable Com­modities imported, viz. as French and Port Wines, Silks and Linen, wrought, and many other things that are all expended and comsum'd here at home, the Nation is so far from gaining 100000 l. that 'tis 200000 l. the worse, viz. 100000 l. sent out of the Nation, and the 100000 l. which is the over ballance, is gain'd from the Publick Treasure and Stock of the Kingdom into private hands, which will again be sent abroad to the same loss: Now the true cause why the Hollanders have acquir'd such great Riches by Trade, is (as the Excellent Sir Walter observes) an over ballance of Trade truly stated, that is; they Import of Commo­dities 100 times the quantity of what them­selves expend, and the rest is again transported to divers Countries, and brings them in Gold and Silver, to their great and real Profit, where­as we scarcely Export the hundredth part of what is Imported, and if we should send all the Silver in the Nation abroad, and have treble the value return'd in unnecessary Commodi­ties, which we spend and consume at home, pray what would the Nation get by this over ballance of Trade, being depriv'd of all its Silver?

The same Gentleman observes, that if a Million of Bullion, was yearly imported from Spain, it would not encrease our Wealth; this seems a Paradox, for there is not a Necessity that it should again be exported, nor that our Money should be of more intrinsick Value, or less price than the rest of our Neighbours, and consequently we may keep it at home as well as they do, and need not send out a 100000 l. of our own Money with it, as he is pleased to say we must. The same Author further Re­marks, that the true liberty the Hollanders have of Exporting their Mony, does not empoverish them; but on the contrary they are Rich, and the severe Penalties the Spaniard imposes on those that Export their Coin, does not prevent their great want of Mony. This I take to be a convincing Argument of the Necessity of rai­sing our Coin; for the great Allay and Extein­sick Value of the Dutch Coin, as effectually se­cures it from Exporting, as the Clipping of our Coin has kept it at home, and the Goodness of he Spanish Money transports it to all parts of the World, which demonstrates the invalidity of any Law that can be made to the contrary, to the great Diminution of their Money, and Impoverishment of their People.

He farther adds, that raising the denominati­on, or value of our Coin, will not bring one Grain of Silver the more into England. This is denying it's day when the Sun shines (and begging the Gentleman's Pardon) he might with as much truth have said, and as easily been believ'd, that the advance of Guineas hath not brought one Guinea more into the King­dom than was here four years ago.

The further Objections against raising the value of our Coin, 'tis humbly thought will al­so [Page 10] prove a Fallacy, and by this Dilemma we will attempt to unLOCK the Mystery. The ancient Standard of our Coin hath been advantage or disadvantage to the Kingdom.

If an advantage, why should we alter it?

If a disadvantage, why should it not be alter'd?

That the Standard of our Coin hath been advantagious to the Publick, will be a Task too difficult for themost cunning Sophisterto prove.

The contrary is in great part already demon­strated, but for further Confirmation, 'tis ob­servable, that according to Mr. Lowndes's Ac­compt from the Mint, there was coin'd from the 1st of Q. Eliz. to the beginning of K Ch. IIs. Reign, more than 15 Millions of Pounds Ster­ling, and in the two last Reigns, and since, we'll suppose 7 Millions, that is 22 Millions of Silver Coin in Specie, besides great quantities of Bul­lion that hath been imported and exported. Now the question is what is become of all this Treasure.

'Tis true, that some part of it is made into Plate; and it had been well in the present Cir­cumstances we are in, if it had all been so, and there is thought to be in the Kingdom 5 Mil­lions lest of Coin good and bad, of the 22 Mil­lions, the rest is gone by the over Ballance of an unprofitable Trade, for 1000 l. sent to Bur­deaux advances at first hand more than 25 per Cent. and though a double value of Wine re­turn, yet we are so much the Poorer for it, if expended here, and 1000 such Merchants would rob the publick stock of 100000 l. yearly; and tho they pay great Sums for Customs, 'tis not with the Money they bring in, and more lau­dable and profitable ways for the publick good; and his Majesties encrease of Customs might be introduced, and all the profit we can ex­pect by this French Commodity for 100000 l. yearly Exported is, that possibly at last, we may find a way to make Salt-peter of it.

A Catalogue of the Names of most Foreign Coins with their Value here as Bullion, and their par­ticular Allay; wherein it plainly appears how much better our standard Coin is, than the Coin of all Europe, Spain only Excepted.

Value here.

 Oun. dw.Oun. dw. s. d. 
Flanders or Spanish Duckatoon,is Better0 04½5 06 
Mexico Real,is Standard,0 00 4 04½
Sevil Real,is better,0 01 4 04½
Holland Dollar,is worse,0 08 4 04 
Lyon Dollar,is worse,2 03 3 04½
Rix-dol. of the worse,0 07½4 05¼
Old Cardecuis worse,0 01 1 06¼
French Lew. or worse,0 00½4 04¼
Doub. Milrez of worse,0 01½3 09¼
Sing. Milrez of worse,0 01 1 09 
S. Mark of Venice,is worse,0 01½2 06 
Doub. D. Stivers Skil. and worse,4 06 0 00 
Crols Dollaris worse,0 12 4 02½
Zealanu Dollar,is worse,2 00 2 03 
Old Philip Dollar,is worse,1 00 5 00 
Ferdinan. Dollar, 1623,is worse,0 12½4 03 
Pr. of Oran. Dol. 1624,is worse,0 10½4 03¼
Leopoldus Dol. 1624,is worse,0 09½4 03¼
Rodolph. Dol. 1607,is worss,0 10 4 04 
Maximilian Dol. 1616,is worse,0 04½4 04¼
Danish Dollar, 1620,is worse,0 13 2 11¼
Portugal Teston,is worse,0 01 1 02¼
Quar. of a new Fr. worse,0 00½1 01 

The Allay of our standard is 11 oun. 2 wt. Silver, 18 d wt. of Allay, that is in an oun. 1 d. ½. Note the Ounce is 5 s. and peny weight is 3 pence.

The Use that may be made of this Catalogue of Coins, is first, that no Coin but Spanish can be brought hither to advantage, nor can any other Money be made Bullion, and brought hi­ther, but with great loss; and for this reason they keep it at home.

That tho all the above Foreign Coins have a greater Allay, and so much worse than ours, yet their Extrinsick value is raised above ours, and the Spanish Money, for a Spanish Duckatoon, whose Intrinsick value, is nigh double a Dutch Duckatoon, yet goes for no more there than 63 Stivers, as their own does; and 'tis worth Re­marking, that an English Crown, whose intrin­sick value is 6d. better than a French Crown, and in Holland current for 55 Stivers, when the Fr. Crown is current at 67 ½ Stivers, and yet have but few of them neither, the Reason is plain, the advance the Fr. have made on their Crown of 72, 73, 74, Sols and more now, and since all Princes have a Prerogative of raising their Coin when it suits with their Interest, and we find it practically done by all the rest of the Thriving World, without those Chimerical Whimsies, and Inconveniences, our Dreamers would be­witch the World to believe, for they value the English and Spanish Coin at no greater price, be­cause they can have it so, and they give so much more for the French because they can't have it without.

By this Table may be found how much of any of these Species our Standard Coin will make, and thereby find the advantage all Countries will have by melting our Mony down: And can it reasonably be thought, that what is carried out will ever return, when in some places, 100 l. of our Standard Coin will make nigh 200 l. cur­rent of the Country, and in other places some what less; for don't we melt down the Sp. Mo­ny here, to make our own, to far less advantage. And if we send over Silver with privilege to Coin their Species; 'tis so much loss to the Na­tion and never can return, but raising the value of our Coin, not withstanding great Sums sent out of the Country, will as effectually re­turn again, as all the Dutch Mony did, that was brought over hither.

Nor will there be any loss by Foreign Ex­change, when our Commodities are valu'd ac­cordingly, and at worst cannot stand in Com­petition with the Inconveniences the Nation hath labour'd under for many Years, when the greatest part of our Trade was carry'd on by Mony generally so abased, that 10 s. would scarcely weigh a Crown piece, according to the Value 'tis now proposed to be made at. And then no such great damage and wrong, or inconveniency was talk'd of, nor so much as thought on to have been done to the Landlords in their Rents, &c. as some endea­vour [Page 11] now to insinuate, will be the Issue of ma­king the Coin so much better than it was at that time.

That this Kingdom can never be drain'd or exhausted of the Riches of its native Produce, and Excellency of its Manufactories, nor pre­judic'd by any other means, but under valuting our Coin and Commodities, by which we are out-done and under-rated in all Markets; tho we have a continual spring of natural Product, as Lead, Tin, Allom, Wool, &c. and other Materials for Manufactory, yet by reason of the scarcity of Gold & Silver Species amongst us, our People have been unemploy'd and em­poverish'd, and our Manufactory greatly de­cay'd, and attempted to be carry'd into other Countries, to almost the ruin of our Nation, had not God Almighty put this Opportunity into our hands, for regaining our lost Trade, Gold and Silver; the plenty whereof amongst our selves would greatly encrease, Manufa­ctory to the great Encouragement of Trade and People in general.

Though raising the value of Coin to so high a pitch as is hoped ours may be, might prejudice a Nation that have little or no Natural product', and Manufactory, but their Commodities fetcht from other Coun­tries, and consequently might be drained of all they have, by those that have most Mony, and so ruined, not being able to Supply themselves again with the same quantities, for what the other was sold for, nor having native product or Manufactory to set themselvs on Work; but that is not our case.

Experience demonstrates that notwithstand­ing the good intention of all our Laws, yet many of them have failed in answering the ends proposed, particularly the late Act, to prevent Melting down and Exportation of Coin, where Oath and Penalty was imposed, and yet no Person was accused thereon, tho' many Thousands Pounds are supposed to have been Exported since that Act. Wherefore 'tis evident that all Laws and Penalties tho of Life and Goods to prevent Exportation of Coin or Bullion, would be invalid & of no effect, if the Coin can be made Bullion, and will yield a better price abroad than at home.

That those Trades only deserve Encourage­ment that bring in Gold and Silver, and such profitable Commodities, that by Manufactory and Exporting may bring it in; and those just­ly Merit discouragement that bring in unpro­fitable Commodities, as Wines, Silk, &c. which are Expended and Consumed here with­out profit, and this to be done by laying great Impositions on them brought hither, and Effectually made to sell them at under Rates.

That the French have done the Confederates more mischief by the Silver and Gold they have exhausted from this Kingdom, for 35 years last past, than with his Armies and Fleets; and the same Methods he has taken to keep his Coin, possibly might prove as prejudicial to him if executed by us, as the loss of a Land Battle, for he that is strongest in Purse, is strong­est in Power, and hath the longest Sword, and may give Laws to his Enemies: And 'tis obser­vable, that before our Mill'd Mony was made, there was great scarcity of Silver in France, ha­ing little trade with Spain, and their usual Pay­ments were then in a worse Species. And yet to the great loss & dishonour of the Kingdom, that Trade is still continued, and will be whilst the Back-door of Portugal is open; and there is now as great plenty of Fr. Wines sold, as when we had open trade with France, notwithstand­ing the Act of Prohibition, to the great preju­dice of his Majesties Customs, and the Nation in general, and this under the name of Port, tho I have heard it disputed whether the whole Produce of Oporto can furnish a dozen of our best Taverns with what they expend under that Name.

That contrary to the Policy of Nations, we raise the value of our own Product, and Ma­nufactory amongst our selves, which ought on­ly to be advanced when Exported by the Im­position of Publick Authority; by this means the rise of Guineas would be no loss if we now keep them here, by selling little more abroad of any Commodity, than when they went for 1 l. 1 s. 6 d.

That the Burthen of this War would not be grievous to the Nation, were but the prices of our native and necessary Commodities regula­ted, having little need of Foreign Assistance; but by the Covetous and Arbitrary sway of great Traders, and without just Cause the Poor are pincht, and over-rated in their Bread, Cloths, Coals, Soap, Candles, and in short, in all things, as if we had nothing of our own growth, but all were brought from the Indies: Nor is it a small Inconveniency they suffer by Abuse in exchange for Farthings.

That what Impositions are laid on Sugars, Salt, Coals, Spirits, Tobacco, East-India Goods, Vinegars, &c. whatsoever imported, we our selves only pay for it, whereas if our Impositi­ons were levied on our Native Product and Manufactory Exported, others would bear a part and must pay for it.

That the French Refugees may be servicable to the Government, by forming them into Colonies in Ireland, where is want of People, and Store of waste Ground to plant Mul-ber­ries and make a Silk-work there, and to be dyed and Manufactured here.

NOW to turn the Stream and Riches raised by Your Majesties native Commodities, into the Natural Channel, from whence it hath been a long time Diverted,

May it Please Your Majesty to consider these Points following.

1. Whether it be not fit that a State Merchant be Settled within your Dominions, which may both dispose more profitably of the Riches thereof, and in­counter Policies of Merchant Strangers, who now go beyond us in all kind of profitable Merchandizing?

2. Whether it be not necessary that your Native Commodities should receive their full Manufactory by your Subjects within your Dominions?

[Page 12] 3. Whether it be not sit that Coals should yield Your Majesties and Subjects a better Value, by per­mitting them to pass out of the Land, and that they be in your Subjects Shipping only Transported?

4. Whether it be not sit Your Majesty presently raise your Coin to as high rates as it is in any parts beyond Seas?

5. Whether it be not necessary that the great Sea business of Fishing be forthwith set forward?

If it please your Majesty to approve of these Con siderations, and accordingly to put them in a right course of Execution, I assure my self (by Gods help) in a short time your Majesties Customs, and the Continual comings into your Coffers, will be exceed­ingly encreased, your Ships and Mariners trebled, your Land and wast Towns (which are now run out of Gates) better replenished, and your People em­ployed, to the great enriching and Honour of your Kingdom, with the applause, and to the Comfort of all your Loyal Subjects.

May it please your Majesty.

I have rather undergone the pains to look into their Policies, because I have heard them prosess they hoped to get the whole Trade and Shipping of Christendom into their own hands, as well as for trasportation, as other­wise for the Command and Mastery of the Seas, to which end I find that they do daily encrease their Traffick, augmenting their Shipping, multiplying their Mariners, Strength and Wealth in all kinds, whereat I have grieved the more, when I consider how God hath endued this Kingdom above any three King­doms in Christendom, with divers Varieties of home bred Commodities, which others have not, and cannot want, and induced us with sundry other means to continue and main­tain Trade and Merchandizing, and Fishing beyond them all, whereby we might prevent the Deceivers, ingross the Commodities of the Ingrossers, enrich our selves, and increase our Navigation, Shipping and Mariners, so as it would make all other Nations Vail the Bonet to England, if we would not be still wanting to our selves in imployment of our own Peo­ple; Which People being divided into three parts, two of them are meer Spenders and Constiniers of a Common-Wealth; therefore I aim at these Points following. To allure and encourage the People for their private gain, to be all workers and encreasers of a Common-Wealth, to enrich and fill your Majesties Coffers by a continual coming in and make your People Wealthy, by means of their great end profitable Trading and Imployment.

To vent our home-bred Commodities to far more reputation, and much more profit to the King the Merchant, and the Kingdom.

To return the Merchandizes of other Coun­tries at far cheaper rates than now they are; to the great good of the Realm in general.

To make the Land powerful by increasin of Ships and Mariners.

To make your Peoples takings in general to be much more every day than now they are, which by Gods help, will grow continu­ally more and more by the great con­course and Commerce that will come by set­tled Constitutions and convenient privileges, as in other Ports they do by this their great freedom of Trade.

All this and much more is done in other Countries, where nothing groweth, so that of nothing they make great things.

Then how much more mighty things might we make, where so great abundance and va­riety of home-bred Commodities, and rich Materials grow, for your People to work up­on, and other plentiful means to do withal, which other Nations neither have, nor can­not want, but of necessity must be furnished from hence.

And now whereas our Merchandizing is wild, utterly Confused, and out of frame, as at large appeareth, a State Merchant will round­ly and effectually bring all the premises to pass, fill your Havens with Ships, those Ships with Mariners, your Kingdom full of Mer­chants, their Houses full of out-landish Com­modities, and your Coffers full of Coin, as in other parts they do, and your People shall have just cause to hold in happy memory, that your Majesty was the beginner of so profitable, praise worthy, and renown'd a work, being the true Philosophers Stone to make your Majesty a rich and potent King, and your Subjects a happy People, only by settling of a State Merchant, whereby your People may have fullness of Trade and Manufactory, and yet hold both Honourable and profitable Go­vernment, without breaking Companies.

And for that in settling of so weighty a business, many things of great Consequence must necessarily fall into Consideration, I humbly Pray that Your Majesty may be pleas­ed (for the bringing of this great service to light) to give me leave to Nominate the Commissioners, and Your Majesty give them power to call before them such Men as they shall think fit to Confer with upon Oath, or otherwise as occasion shall offer; that the said Commissioners with all speed for the better advancement of this Honourable and profitable work, may prepare, and report the same to Your Majesty.

Your Majesties most Loyal and true Hearted Subject, W. R.

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