the maintenance of free trade-第3章

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ve　Part　of　sayling　is　to　bee　ascribed　thereunto；　seeing　it　driveth　the　ship　according　to　all　the　points　of　the　winds　and　variation　of　the　Compasse　being　fastened　upon　the　Paralell　of　the　Keele　of　Equality？　Shipwrights　will　tell　you；　That　if　it　be　not　Rightly　placed；　it　doth　interrupt　sayling：　and　if　it　be　not　of　Compentent　length；　but　that　the　upperbuilding　of　the　ship　doe　sway　the　same；　it　maketh　a　ship　unserviceable：　That　neither　the　direction　of　the　Compasse；　nor　the　Recptacle　of　the　Sailes　forewind；　can　make　her　performe　her　voyage　as　other　shippes　doe。　I　perceive　you　are　like　unto　him　that　did　attribute　to　the　letters　of　a　clocke　diall；　the　shewing　of　the　houre；　and　not　to　the　hand　or　Index；　which　is　the　Active　thing　to　shew　you　the　same；　albeit　it　can　not　doe　the　same　without　the　other；　which　the　Thing　Passive：　you　must　therefore　truely　distinguish　and　attribute　the　efficient　Cause　of　Sayling　to　the　Rudder　of　a　Ship；　and　the　other　are　called　Secondary　or　mean　Causes。　And　they　all　agreed　that　this　observation　was　true。　　　　　　Is　not　the　Moderne　Merchant　of　Hackney　or　the　Author　of　the　Treatise　of　Free　Trade　like　unto　these　Novices？　who　perceiving　two　great　whales　to　have　assulted　the　English　ship　of　Traffique；　The　cruellest　being　the　warres　in　Christendome　and　the　Pirates；　The　other　more　gentle；　being　the　Policy　of　Princes　and　States　in　the　Course　of　Trade；　hath　published　in　the　yeare　of　Grace；　1622。　The　Causes　of　the　decay　of　Trade　in　England；　and　the　means　to　make　the　same　flourish；　without　observation　of　the　operative　power　of　exchange；　which　is　the　Rudder　of　the　Ship　of　Traffique　fastened　upon　the　Rule　of　the　equalitie　of　Moneyes　according　to　their　weithg　and　fineness；　to　be　denominated　by　the　valuation　of　Princes　as　a　matter　perculiarly　appertaining　to　their　Praerogatives。　　　　　　And　because　that　therein；　hee　hath　like　unto　Esops　Jay　clad　himself　with　the　feathers　of　other　Birds：　I　hope　it　will　not　be　impertinent；　To　unmaske　his　discourse；　and　nevertheless　to　supply　（according　to　my　former　Treatises）　The　maintenance　of　free　Trade；　wherin　I　endeavour　to　be　Compendious　and　Substantiall；　and　to　follow　his　Method　and　some　distribution　for　the　better　understanding；　as　a　most　important　businesse　of　State；　which　is　the　cause　that　so　many　Statutes　and　lawes　have　beene　made　concerning　moneyes　and　exchanges。　2。　So　many　Proclamations　for　the　due　execution　thereof　have　bin　published。　3。　Lastly；　so　many　Treatises　and　Conferences　have　beene　had　had　from　Time　to　Time；　Both　with　other　Princes　and　within　our　selves；　which　in　the　judgement　of　the　said　Author　are　neglected　as　unnecessary；　or　by　ignorance　not　mentioned；　concluding　with　him；　That　as　there　are　many　causes　discussed　and　discoursed　of；　at　this　time　of　the　decay　of　Trade：　So　are　there　many　Remedies　propounded；　wherein　if　either　the　Principall　Causes　be　mistaken　（as　hee　hath　done）　or　defective　Remedies　propounded：　The　present　disease　of　this　Trade　may　increase　and　cast　the　Body　into　a　more　dangerous　Sicknes。　For　the　efficient　Cause　being　unknown；　putteth　out　the　Phisitians　eye；　as　the　Proverbe　is。　　　　　　Now　let　us　come　to　the　handling　of　the　particulars　in　order；　and　afterward　to　the　True　Remedies；　which　must　arise　from　the　matter　of　exchange；　as　shall　bee　plainely　demonstrated　to　the　judicious　Reader；　voide　of　partiality；　for　the　exchange　is　the　faculty　or　Spirit　of　the　soule　of　moneyes　in　the　Course　of　Traffique。

Chapter　One

The　Causes　of　the　Want　of　Moneys　in　England。

　　　　　This　Assertion　we　shall　now　bring　to　the　hammer；　the　Anvel　and　the　Touchstone；　namely　to　firme　Reason；　by　his　owne　first　Argument　of　the　immediate　Cause　of　the　want　of　money　in　England；　alleaged　by　him　to　bee　the　undervaluation　of　his　Majesties　Coyne；　where　he　saith　by　way　of　interrogation：　　　　　　Who　will　procure　licence　in　Spaine　to　bring　Realls　into　England；　to　sell　them　here　at　Tenne　in　the　hundred　Gaine；　which　is　lesse　then　the　exchange　from　thence　will　yeeld；　when　he　may　have　for　the　same；　five　and　twenty　in　the　hundred　in　Holland？　　　　　　Here　in　an　obscure　manner；　he　observeth　the　exchange　from　Spayne　to　be　Sixe　pence　the　Reall；　as　value　for　value；　or　the　Par　in　exchange；　whereby　it　is　less　（as　hee　saith：）　and　hee　doth　account　the　price　of　8。　Reals　at　51　Stivers　in　Holland；　and　the　Rate　of　exchange　at　22　shillings　4　pence　Flemish　to　answer　our　20　shillings　Starlin　as　at　Par　pro　Pari　for　those　parts；　howbeit　that　42　shillings　6　pence　Flemish　payde　there　for　the　5　Realls　of　8　make　25　shillings　6　pence　Starlin　according　to　that　Computation；　howsoever　wee　see　that　this　is　grounded　upon　the　exchange；　which　is　the　efficient　Cause　thereof；　otherwise　the　15　in　the　hundreth　to　be　gotten　in　Holland　more　than　in　England：　is　altogether　imaginary　and　not　Reall。　For　example　let　five　of　these　Realls　of　8　be　bought　here　for　22　shillings　Starlin；　and　bee　transported　into　Holland；　and　there　buy　commodities　with　the　same；　according　as　the　price　of　them；　is　inhaunced　there；　no　man　maketh　any　doubt；　but　that　the　said　Commodities　are　also　raised　in　price；　according　to　the　money　inhaunced。　So　that　the　gayne　becommeth　uncertaine；　for　the　Commodities　may　be　sold　to　losse。　But　the　merchants　trading　in　Spaine；　which　cause　their　Realls　to　be　sent　from　Spaine　thither；　or　doe　transporte　them　from　the　Downes：　Rely　wholy　upon　the　lowe　exchange；　whereby　they　are　inabled　to　deliver　their　money　there；　by　exchange　at　an　undervalue；　in　giving　there　but　33　shillings　4　pence　and　under；　to　have　20　shillings　Starlin　payed　by　Bill　of　exchange　in　England；　whereby　the　kingdome　maketh　good　unto　them　the　said　15　upon　the　hundreth。　For　this　Reall　of　8　was　valued　but　at　42　Stivers；　when　the　Par　of　exchange　was　made　to　be　33　shillings　4　pence；　in　the　yeare　1586；　when　Robert　Dudley；　Earle　of　Leycester；　went　to　take　the　government　of　those　Countries；　And　shal　we　now　receive　in　exchange　the　said　price　of　8　Reals　for　51　Stivers；　which　is　about　five　shillings　and　one　peny　Starlin；　because　they　have　inhaunced　the　same　to　their　advantage；　and　continue　the　Par　of　exchange　at　33　shilling　4　pence　by　which　Computation　the　said　42　Stivers　make　but　four　shillings　two　pence　half　penny　or　thereabouts　in　true　value？　Absit　ignorantia。　Whereas；　if　our　merchants　of　Spaine　should　give　the　saide　price　there　in　exchange　for　42　Stivers；　as　they　did　formerly；　（and　may　be　done　by　order　of　exchange：）　They　shall　not　finde　thereby　Ten　in　the　hundreth　gaine；　which　they　can　make　here　more　certaine　and　commodiously；　whereby　this　money　will　be　imported；　without　inhauncing　of　our　Coyne。　This　is　so　plaine　in　the　understanding　of　Merchants；　that　there　needeth　no　other　explanation；　for　it　demonstrateth　manifestly；　that　if　the　lowe　exchange　were　not；　This　Gayne　would　proove　to　be　Imaginary；　as　we　have　noted。　And　this　causeth　these　Realls　of　Spayne　to　be　diverted　from　us；　and　might　els　be　imported　to　the　said　Merchants　or　others；　which　doe　practice　upon　the　Benefite　of　moneys　to　bee　made　betweene　the　exchange　and　moneys。　　　　　　For　the　Rule　is　infallible；　That　when　the　exchange　doth　answer　the　true　value　of　our　moneys　according　to　their　intrinsicke　weight　and　fineness；　and　their　extrinsicke　valuation：　They　are　never　exported；　because　the　Gayne　is　answered　by　exchange；　which　is　the　Cause　o