THe Purchase and price of Lands in this Kingdome, doth rise and fall by no otherThe price of our Land may be raised also by a great in­crease of our people & stran­gers, which would cause the more con­sumption of forraign wares, & a lesse Ex­portation of our own, wher­by the King­dome would be soone im­poverished. wayes and meanes (for the common benefit) then by the profit or losse which is made by the over or underbal­lance [Page 2]of ourWe have no Treasure but by Trade. Forraigne Trade, that is to say, when we bring in and consume yearely a lesse value in Forraigne wares, than we export in our owne Commodities, we may rest assured that the difference is brought in and doth re­maine to us in so much Treasure. And con­trariwise, if wee consume a greater value in forraigne wares than we doe export of our owne Commodities, Then is our Treasure exhausted to ballance the account with stran­gers.

Daily experience doth also teach us, that in those Countries where monies are scarce, there the Lands and native wares areIreland, Mus­covia, Poland, the East Indies, and many other places: cheape, so likewise where money doth abound, there the lands and wares areSpaine, Italy, the Low Coun­tryes, &c. deare; And thus it appeareth that although this Kingdome may be rich in it selfe, yet it cannot be inriched but byOur wares make us rich, our Treasure doth inrich us. Trade onely, by adding Treasure to our wares, which Treasure being the price and measure of all our other meanes both person­all and reall, it doth thereby enable many, and multiply the number of Purchasers, which consequently doth cause the sellers of Lands to raise the price; But if Lands be too much raised, then the proprieties of monies (or many of them) will indeavour to deliver it for more profit at Interest, to supply the oc­casions of those who will imploy it in for­raigne Trade or otherwise; which doth in­crease [Page 3]his Majesties Customes and Subjects Imployments.The ill conse­quences of the Abatement of Interest.

And if the Rate of the Interest be abated thereby to inforce the monyed men to turne all their meanes into Lands, then many losses will presently follow both to the King and his Subjects;

First, if we take the businesse as it now stan­deth in this Kingdome, There are many men who have great summes of ready money, al­though they have neither Skill norMuch money is put to Inte­rest by the Gentry, Wid­dowes, and Orphans. Will to manage it in Trade of Merchandize, except they should doe it to the ruine of themselves and others also, who have more knowledge and experience; yet their money is still ta­ken up at Interest and imployed by able Mer­chants to the benefit of the King and his king­dome;

Againe, if the Rate of Interest be abated, it will presently decline the quantity of our Trade, for monyed men will find meanes to make it over into theThe Banks of Italy do man­age the monies of their Gentry Widdows, Or­phans, or who­soever. Bankes of Italy, and o­ther places, where it may yeeld them greater profit.

The proofe of this Truth is seene in the practice of divers Nations, especially, I will instance the Dutch, whose Lands areThe Hollan­ders wealth & foundation for forraign Trade proceeds not from their Na­tive wares, but from their fish­ing in the Eng­lish Seas, & o­ther industries which here I omit. little and very deare, because their people are ma­ny, and although the Interest usually given in their Country, doth yeeld them at least dou­ble [Page 4]the profit of their Lands, yet they con­vey a great part of their monies into other Countries where they finde most gaine. And it is very probable that at least one third part of all the monies which are delivered in Lon­don at Interest, appertaineth to the Dutch, who manage it here by their Factors.

And if it be objected that it is our preju­dice to suffer Strangers to carry away the profit of Interest from his Majesties Sub­jects, The answer is, that (beside their free­dome of Commerce) this losse by Interest is repaid with great advantage to his Majestie in his Customes and Imposts (outward and inward) by the increase of trade, which ad­deth also unto the Subjects imployment in shipping and diverse other kinds. The Mer­chant also who disbursteth the Interest to the Stranger, doth thereby reape a greater bene­fit to himselfe in his trade; which causeth him to take up the money at Interest: All which gaines may import about 40 per Cent. yearely.

Now if the Interest here were brought to a lower Rate, then our Trade would certaine­ly decline, and the afore written profits to his Majestie and his Subjects would be lost, and lands would fall in price. For there is no doubt that not onely Strangers, but also the English would convey their monies and their [Page 5]plate also (if it be coyn'd into money) into thoseItaly, Turkie, Spaine, the East Indies, Ireland. &c. Counties where they can finde grea­ter profit: Nor can any strict law prevent this evill if gaine may be obtained.

And if it bee yet further objected that a low Interest will give the Merchant greater encouragement to take up money to inlarge his trade.

The answer is already given, that when the Interest is low, the Merchant shall finde little or no mony to take up, which would disacco­modate and perplexe others also who are no Traders, and force them daily to sell Lands atWhere mony failes there land must fall. low rates to supply their occasions, unto which I adde only, that 2 or 3 per Cent. abated in Interest, is farre lesse considerable in the Merchants gaine than it would prove in the monied mans losse.

I might produce some other reasons to proove that the abating of Interest will car­ry our money out of this Kingdome, decline our Trade, and bring downe the price of our Lands, &c. but I omit them for brevity.