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the maintenance of free trade-及5何蛍

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 are diverted from us�察�by the course of exchange in undervaluing our moneys�察�as hath beene declared。 The losse whreof is greater to this kingdome�察�than all the moneys employed yearely for the East Indies�察�cometh unto�察�which without due consideration�察�seemeth to bee impossible。 So that wee may very well affirme�察�that by this Trade the Treasure of the Realme can greatly be increased unto us the use of forraine Commodities at reasonable rates。 And therefore is the same by all meanes to be continued�察�the rather for that the Hollanders have declared 5 especiall Reasons for the continance of their East Indie Trade�察�which are not to be neglected�察�but are to bee pondered by all Politians and Statesmen。      1。 Because the Right�察�Power�察�and freedome of the Traffique and Trade belongeth unto them ��iure gentium�� aswell as to any nation of the world�察�which the Spaniards did call in question。      2。 For the revenge of any injuries done to the Hollander�察�may bee recompenced in those Countries�察�which was heretofore without breach of Truce。      3。 For the maintenance of their Marriners and Shipping�察�of which two�察�they abound above all nations。      4。 For the increase of Customes and meanes raised by the Buying of these commodities�察�their Countrey being a Storehouse for all wares and merchandizes。      5。 Because that by the continuance of the said Trade ��although it should proove unprofitable�今� They maintaine a certaine peace and assurance in the course of their government which consisteth thereby。      This Trade of the Hollanders for the East Indies began upon the Embargoes made in Spain of their goods and interruption of their Trade�察�wherein they did associate themselves with the Germanes to disperse and vent their said India commodities better and speedier。      To this Argument appertaineth�察�the consideration of the Trades out of Christendome�察�maintained for the most part with ready moneys。 As for Turkie and Persia�察�wherein the abundance of Silver and Gold come into Europe�察�since the West Indies were discovered�察�is to be noted�察�which hath made every thing dearer according to the increase of money�察�which like unto an Ocean�察�dividing the Course into several branches in divers Countries�察�hath caused a great alteration。 But England doth not participate by the Course of Traffique a proportionable Competent share of the said aboundance of moneys�察�as other nations doe�此�albeit not many yeares since�察�we had more moneys then in times past�察�before the saide discovery of the West Indies�此�But we must now measure things according to the said abundance�察�which is much diminished by the continuall exportation of moneys for the East Indies from all places of Traffique。      The fifth Cause of the Want of Money in England�察�hee saith�察�are the Warres of Christendome�察�causing exportation of moneys�察�and the Pirates hindering importation of money。 The latter is meerely a Prevention or Robbing of our moneys�察�which are supposed�察�might be brought in。 But if Pirates did not take some of our moneys�察�it followeth not�察�that the same should come unto us in specie。 For experience�察�by the example of the Spanish Merchants�察�diverting the Realls of 8 from us ��for Gaine to be made in forraine parts�今� prooveth unto us the contrary。 Gayne beeing alwaies the Scope of Merchants�此�and to proove that this Gayne�察�is made Really onely by the abuse of exchange ��which otherwise would be but Imaginary���察�wee have already declared。      Now touching the exportation of monyes by the wares of Christians�察�where he declareth an urgent instance�此�That the Riecks Doller�察�is raised ��two markes Lubish making the said Doller�今� to twenty markes Lubish in many places of Germany�察�whereby abundance of money is drawen unto the Mintes of those Countries�察�from all the Mines and Parts of Christendome�此�herein he is much mistaken�察�for when moneys are inhaunced�察�they never are carried to the Mintes for to be converted into other Coyne。 But they remaine currant�察�betweene man and man�察�running like a Poste´horse�察�every man fearing to receive a losse by the fal。 Neither maketh this any rule for merchants in places of Trade�察�otherwise then that they may take knowledge of the publike valuation thereof�察�to sell their Commodities accordingly�察�by rating the price of exchange�察�upon their former observation�察�which being neglected or done in part�察�causeth the undervaluation of our monyes in exchange。 And this is the immediate Cause by him first alleaged and treated of�察�wherein the Commodities are no more Active�察�then Tenderdon Steeple in Kent�察�was the Cause of the decay of Dover haven。      To make this to appeare�察�let us note�察�that this Rieckx Doller being the maine and most usuall Coyne in Germany�察�Eastland�察�the United and Reconciled Countries under both Governments�察�and many other places�察�was valued at 2 marks Lubish�察�every marke being 16 shillings Lubish�察�or 16 Stivers�察�for the yeare 1575�察�the saide Doller was still coyned in the Empire for 32 Stivers。 And was so currant by Valuation in the Low Countries�察�wherby the said shilling Lubish and the Stiver Flemish were al one�察�but the wars in the Low Countries hath bin the cause of the inhauncing of this Doller�察�which was brought to 35 Stivers�察�and the yeare 1586�察�to 45 Stivers by intermissive Times and Valuations howbeit at Stoade�察�Hamborough and other places in Germany�察�the said Doller did remaine still at 32 Stivers or two markes。 And as the said Doller did inhaunce in price�此�so did they coyne new Stivers accordingly�察�sometimes lighter in weight�察�and at other times imbased by Allay or Copper。 And yet in accompt�察�the Stiver did and doth remaine the ground of all their monyes。 But the said Doller holdeth his Standard agreeable to the first Doller�察�which is called the Burgundian Doller with the crosse of Saint Andrew coyned in the yeare 1575 which is in fineness tenne ounces�察�and twelve penny weight of fine silver�察�and four and one halfe of these Dollers�察�were there made equivalent to our 20 shillings Starlin�察�as a Publicke measure in exchange betweene us�察�and the Low Countries�察�Germany and other places where this Doller was currant�察�which made the Par or price of exchange to be 24 of their shillings�察�for 20 shillings of ours�察�according to which computation�察�exchanges were made�察�alwaies above that price�察�both here and beyond the seas�察�and the Stiver of the Lowe Countries was not in value answerable thereunto�察�for bieng but two ounces 17 pence with fine�察�their 32 Stivers for the said Doller�察。�which is foure pieces and one halfe 144 Stivers�今� did not containe so much fine silver in them�察�as the said Doller proportionably。 But there wanted above 3 shillings Flemish in the pound of 20 shillings Starlin。      Those Dollers have since beene imitated and made by the States of the united Low Provinces in their severall Mintes�察�as also by the Archduke Albertus in the reconciled Provinces。 And the price of them at Hamborough�察�Stoade�察�and other places was inhaunced but one Stiver�察�that is to say�察�at thirty three Stivers�察�where the said Dollers�察�went in the Low Countries by valuation for 45 Stivers in the yeare�察�1586�察�at which time the Par of exchange was found to bee twenty foure shillings nine pence for those parts�察�and for the Low Countries at thirty three shillings 4 pence�察�which was so agreed upon to our disadvantage�察�for according to the saide 4 1/2 Dollers�察�at forty five Stivers�察�it maketh thirty three shillings nine pence�察�but our twenty shillings valued at tenne Stivers for the shilling�察�was the cause that it was put to thirty three shillings four pence。 My selfe being there�察�a Commissioner appointed by the Councell Table�察�with Sir Richard Martin Knight�察�and Monsieur Ortell�察�Monsieur Coase�察�and Monsieur Valcke�察�Commissioners for the States of the united Provinces。      This Doller is since that time inhaunced to fifty two Stivers in the Lowe Provinces�察�which maketh the price of exchange above thirty eight shillings�察�or rather thirty nine shillings�此�and shall we suffer this�察�and not alter our price of exchange accordingly�察�but be contented to take thirty foure shillings or thirty five shillings�察�and after that rate undersell all the Commoditis of the kingdome�察�and suffer also�察。�because of this gaine�� our monyes to be exported�察�the Realls of 8 to bee debarred from us to bee brought in and carried to other Countries�察�for bringing a losse to the importer�察�which by inhauncing of the price of our exchange ��and not by inhauncing of our monyes�今� can bee easily prevented�拭�as heereafter shall be declared。      This Doller is likewise since that time�察�more inhaunced in Germany from time to time�察�and leaving the excessive alteration in Remote places�察�let us note the Valuation of Hamborough�察�where it hath beene at fifty foure Stiners the Doller�察�which maketh the exchange above forty shillings of their money for our twenty shillings。 And although we have raised the price of exchange from twenty foure shillings nine to thirty five shillings or thereabouts�此�shall we rest here and go no further�拭�have we reason to doe it in part�察�and not in the whole�察�according to justice�察�equality�察�and true Policy。 And shall we bee like a man�察�that by halting in jest�察�became lame in earnest�拭�I say againe�察�Absit ignorantia。 Thus much Obiter。

Chapter II。

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

     The Moneyes of Christendome�察�which have their ebbing and flowing�察�doe shew their operation upon commodities�察�making by Plenty�察�the price thereof deare�察�or by Scarcity better cheape。 And on the Contrary�察�by exchange we finde that plenty of money maketh a Low exchange�察�and the price of monyes to fall in exchange�此�and that Scarcity of money maketh a fhigh exchange�察�and the price to rise�察�overruling both the price of moneys and Commodities�察�which beeing observed by the great exchangers or Bankerers�察�caused them to invent all the means to compasse the fame�察�and to rule the course thereof at their pleasure�察�having the maine sea of exchange�察�wherein the exchange of England runneth like a River or Branche�察�and is overruled by the generall Currant�察�which may be prevented�此�for we have the head of exchange of 20 shillings Starlin for the places where most of our Commodities are sold�察�which will command all the parts & members of the body of Traffique�察�and procure plenty of money�察�whereby the other cuases of
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