first and retaineth the same last So Commodities in Traffique are first and moneys came afterwards whereby Commutation or Barter was brought into a Trade and to preserue that money as the Bloud in the Body exchange was deuised as a spirit to quicken the same and shall it be vsed to destroy the Body because the true vse of it is not vnderstood and the same is made a Merchandise Shall we imagine that the exportation of our moneys shall be preuented when by taking inhaunced coyne beyond the Seas aboue the true value in exchange wee feede the causes of exportation Or shall we expect that moneys shall be imported vnto vs when there is a losse by the bringing of them which losse is measured according to the price of exchange which to auoide compelleth vs to buy forreine Commodities Or if any moneys are imported by accident or occasion shall the Body of Trade be the better by it so long as they are carried out againe Shall the Trade of our natiue Commodities be liuely when moneys are wanting Can the exchange haue his due course vnlesse the foundation thereof according to Parity and Equality be respected howsoeuer the price thereof may rise and fall according to the occasions of Merchants and the plenty or scarsity of moneys Shall not the price of this true exchange impose a price vpon our natiue Commodities so that Commodities moneys and exchanges may according to equitie and iustice be gouerned in their proper natures accordingly The Kingdome cannot consume the forreine Commodities imported but they cause an ouerballancing the Customes and Impositions which might be moderated in the rate and yet not decrease in value by the greater employment of Trade doth discourage Merchants which bringeth a distemperature in Trade forraine wares are oueraboundantly brought in in the liew of moneys whereby the Realme doth swell with forreine Commodities which being retransported bring still other Wares in returne so that moneys and bullion the vitall spirit of Trade is neglected which is properly the decay of Trade For the exchange which ruleth Commodities and money is ouerruled by other Nations Let vs therefore practise the contrary to finde a full remedy for Contraria contrarijs curantur The Turke The Policy of the Turke Persian and Russian the Persian and the Russians doe exceeds in Policy preuenting the exportation of their moneys by maintaining the price of exchange aboue the valuation of their moneys causing Merchants thereby to make employment vpon their Commodities of course and not by precept or compulsion whereby they accumulate treasure The King of Baâ—tan and other Princes in the East doe the like selling their corruptible Wares for siluer to hoord vp the same cannot this awake vs to imitate them when it may be done by so easie meanes through the Center of Commerce so often repeated I say no more but leaue it to the high wisdome of the King and State to direct it wherein Misseldens Ballance is as necessary as the first wheele in a Wagon To make an end therefore with his Copia Verborum P. 143. he much reioyceth that by Acadnes thred he is got out of the Labyrinth of the Little Fish and Great Whale but this little Spawne will sticke so fast in his Throate that he shall neede of Cranes to plucke it out so that I might very well retort vpon him his conceited dismission and capritious farewel borrowed of the ancient Fathers But it is sufficient for me to shew that as it is the fable of the Fox he hath onely licked the out side of the Glasse of true iudgement of this matter of State but could neuer come to the Pottage or Center according to the olde obseruation Lucians Dialog shewing how Iupiter was fed with bones and fat Promethius reseruing vnto himselfe the solid flesh whereby is meant sound knowledge by the fat the fleeting shew of superficiary termes of Art and by the bones are deciphered the inextricable and perplexed labour in the curiosities of euerstriuing contradictions wherein he doth a-abound Sed magna est veritas praeualet He did thinke once to haue made an Index 〈◊〉 of my writings but finding that his durty broome had employment to clense the Stables at Hackâ—â—y and now to finde out the Interlopers beyond the Seas he left it I still do striue to be temperate but publike slaunders cannot be washed off but by publike defences sure I am that my Bookes are acceptable vnto wisemen and Lex Mercitoria is translated into Spanish and French and much respected beyond the Seas In the Conclusion of which Booke to the Indicious Reader I gaue notice long since that Enuy would command Triple headed Cerberus to let loose the Satyres Zoylus Momus and Mastix for this latter was already come on a Hackney Horse with a Blattant tongue to carpe at the actions of any man 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 To hurt although it were as commendable as Homers learning or Hercules Acts whereof Virgil the Prince of Helicon was not free neither the worthy one of former ages whose vertues darkened like the Moone with some blot are registred with the point of Diamond in the Glasse of true History Thus hauing made his Circle vsefull in some respect by placing of a Center in it P. 2. it will be more close and durable for himselfe saith in the Proeme that it is slightly set vp and pinned together to try how the parts and ioynts thereof would trent and fit the square for by his Apostrophe ad Regem whose most iudiciall eyes can easely discerne wilfulnes and ignorance P. 14. 5 that of Horace is verified Pindarum quis quid studet aemulari Iuli ceratis ope Dedalea Nititur Pennis vitreo daturus Nomina Ponto Iulus who striues Pinder to emulate With waxen wings which Dedals Art did make He flies in vaine to giue by haplesse fate Names to the Icarian glassie blewish lake For Misselden hauing in his former Treatise either ignorantly or willingly omitted to handle The Pradominant Part of Trade namely the Mistery of Exchange which is the Publike Measure between vs and other nations as we haue poued now in this his Circle of Commerce he hath vndertaken with the Artificiall wings of his supporters set on with wax to fly so high in the discourse thereof that this hot climate of the Antartike Circle or South Pole hath dissolued the wax and the splendant Beames of the Sunne of truth hath dispelled all foggy misteries of deceitfull fallacies as aforesaid so that he is drowned with his Ballance in the Sea of Exchanges according to Ouids Allusion Ipse Misseldemus nomina facit aquis THE CONCLVSION VNto you therfore Noble Lords and Right Honorable Priuy Councellers of State with the rest of the Right Worshipfull his Maiesties Commissioners for Trade whom I haue at all times attended as becommeth me vnto your graue wisdomes and discretions I say belongeth properly the serious consideration of this Center of Commerce This is the firme North Starre of Trade by which your Compasse is to be directed according to the Lawes Statutes and Ordinances of this Realme of England This is the Rudder of the Ship of Traffique to guide steire Commerce to her right ports or Hauens of profit This is that true Par of Exchange approued by the Lawes of nations that hath no imposture froth nor fallacy to amuse or abuse vs with as the casting of a deceitfull Ballance hath wherein no certainty can be found Let not your Heroicall Vertues for the Publike good be blemisht with priuate Centers of Commerce but be you a meanes that Phebus himselfe will be pleased to driue the Chariot of Trade this Center whereby the Horses of all societies and corporations my draw a like in the course of Trade by his wise guiding and direction Masterr Milles Acroamata let the procuring of Bullion be your first study to set his Mint on worke which is recommended vnto you by the efficacy of other mens words For Money of it selfe be it more or lesse in whose hands so euer without Bullion to supply is but water in a Cesterne taken from the Spring that by vse becomes exhausted or being but let alone consumes it selfe to nothing by strikes and putrifaction So Coyne becomes but Medals out of vse of out of fashion For Bullion being the Fountaine Money is but the Water and Exchange the Riuer that serues all priuate turnes Bullion being the Sun Money is but the Beames Exchange the Light that makes the world to see Bullion being the Pilot Money is but the Sterne Exchange the Compasse that guides all courses right Bullion being the Chylus Money is but the Bloud Exchange the Spirit that quickens all the Body To be short Bullion is the very Body and Bloud of Kings Money is but the Medium betweene Subiects and their Kings Exchange the heauenly Mistery that ioynes them both together Next therefore let the exportation of moneys the profusion of Bloud be preuented by the meanes of this Center wherein the vitall spirit of Trade doth consist and procure plenty of Money and Bullion by all Reall Substantiall and Politike meanes For plenty of Money will improue your Lands aduance the price of your natiue Commodities increase your Manufactures establish the Fishing maintaine forreine Trades augment the Kings reuinewes make forreine Wares better cheape preuent the ouerballancing and inrich the Kingdome with an aduancement of all the dependances of Trade contained in the Articles of your Commission God grant a blessing in all to his Glory the Kings Honor and the Kingdomes welfare Obsta Principijs sedo Medicina Paratur FINIS ERRATA Pag. 5. lin 11. read Reprehension for apprehension p. 17. l. 27. r. Depredations for depudations p. 18. l. 29. r. Wee for me p. 25. l. 2. r. Peeces for prices p. 37. l. 8. r. Peeces for prices p. 38. l. 2. r. 20 â— for 2 â— p. 42. l. 20. r. Construction for contution p. 44. l. 17. r. Good for Gods p. 58. l. 14. r. Caution for cannon p. 58. l. 22. r. Confusion for conclusion p. 64. l. 18. r. Hoopes for hops p. 64. l. 31. r. Indeering for induring p. 68. l. 8. r. Mobile for Mobill p. 77. l. 22. r. Cornuted for corneited p. 78. l. 7. r. Flatter for scatter p. 78. l. 30. r. Procupine for procerpine p. 80. l. 20. r. For for from p. 81. l. 12. r. Inabled for inable p. 101. l. 〈◊〉 â— Contratenor for contratos
becommeth a looser of so much and the Kingdome is bereaued of the others money which the Amsterdammer caused to be sent ouer vnto him as shal be made plaine in the next Chapter To returne to our aforesaid declaration of the vndervaluation of our moneys Exchange at 358. for the Low Vnited Countries True it is that since the said Proclamation of the States whereby our shilling is valued at 10 ½ Stiuers the price of exchange is risen to 35 s which some vnderstand to be value for value or Par pro Pari and others will say who knoweth whether the said Assayes were truely made and reported accordingly and so speak against our benefit I answer admit that the losse be but 6 1 9. per centum for a moneth is this tollerable when by the exportation of our moneys there may be gotten aboue 73 per centum by the yeare which is a gaine exceeding all other gaines besides the losse of our Treasure This is conuenience being opened to the Grand Commission of 51. Persons of diuers quallities and degrees appointed for matters of Trade namely The Right Honourable the Lord Vizcount Man-deuile The Grand Commission for Trade Lord President of the Councell The Lord Brooke Sir Iohn Suckling Knight Comptroller of his Maiesties Houshold Sir Iulius Caesar Knight Master of the Rolles and diuers other Knights Baronets and others It pleased them to send for his Maiesties Assay-master Master Andrew Palmer a man of rare knowledge and experience and willed him to make Assayes of the principall forraine coynes and to compare the same vnto ours by way of Exchange after the rate of 35 s. Flemish for 20 s. Starlin whereupon he made the report here following in the Moneth of March last past 1623. Twenty shillings English money Master Palmers report to the Commissioners containeth in fine siluer 3 ounces ten pennie waight 23 graines 4 mites 12 droicts 7 periods 17 blancks Fiue and thirty Hollands shillings containes in fine siluer 3 ounces 6 pennie waight 14 graines 6 mites 16 droicts Whereby the difference of fine siluer is 4 pennie weight 8 graines 17 mites 20 droicts Euery penny weight of fine siluer is worth in our currant siluer moneys three pence farthing and halfe a farthing full so the difference in value betweene the moneys aboue said is 14 pence halfe pennie and one farthing which is vpon the hundreth pounds sixe ponnds three shillings Euery Holland shilling containes in fine siluer one pennie waight 21 graines 13 mites 8 droicts which is in value to our siluer moneys six pence 3 ◠parts euery Holland Stiuer of the best containes in fine siluer 7 graines 12 mites 5 droicts 6 periods 16 blancks which is in value two ounces one pennie 1½ mites euery 5 shillings English siluer containes in fine siluer 17 penny waight 17 graines 16 mites Euery Holland Doller containeth in fine siluer 16 pennie waight 4 graines 10 mites the difference in fine siluer is one pennie waight 13 graines 6 mites which is in value Starlin 5 pence full Euery peece of 8 Royalls of Spaine containeth in fine siluer 16 penney waight one graine the difference is one penny waight 16 graines 16 mites And in value Starlin fiue pence halfe penny full So to the difference of six pounds three shillings in euery hundreth pounds the 5 vpon the hundreth added betweene 33 s. 4 d and 35 s. is in Totall 11 l. 3 s by this calculation of Assay Thus it appeareth vnto men euen of the meanest vnderstanding that our moneys are vndervalued in exchange for the Low Countries and for Hamborough other places much more where the Rickx Doller is risen to 52 and 54 shillings lubish which by the precedent rules maketh the price of this Positiue Exchange to be aboue 40 s. of theirs for our 20 s which to auoide prolixity I leaue to euery mans iudgement to calculate Now because we haue spoken of men of meane capacity Inconueniences of the vnderualuation of our moneys and that I doe labour to expresse my selfe in the plainest maner I pray you is there any man liuing that will not conceiue that this exceeding great gaine had by exportation of our moneys will still depriue vs of our Treasure And on the contrary that this great losse had by the importation of money doth still debarre vs from any to be brought in Againe when greater gaine is giuen vpon the Spanish Royalls beyond the Seas will not the same be diuerted from vs and carried thither or if some be imported vpon occasion or by accident will not other men transport them againe and so take away the life of Trade and cause the Vitall Spirits thereof to languish Surely all men are able to vnderstand this yet it shal be made more plainer Thus may we obserue the Disgression and inequallity betweene the said moneys which can neuer conueniently be reducted to their first price and equallity I might likewise make instance of the coines of gold which are more inhaunced for the Soueraigne of 20 s. is now currant at 37 s. 8 d Flemish But the premises declare sufficiently the vndervaluation of our moneys in exchange both by calculation and triall of the suttle Assay Misselden in his former Treatise misnamed Free-Trade setteth downe P. 7. that the immediate cause of the want of money in England is the vnderualuation of his Maiesties coyne which hindereth the importation and causeth the exportation of ours whereupon he would haue the Kings coine raised and forraine coine to be made currant at equall value And in his Circle of Commerce he saith P. 101. that I would perswade the world that there is a great vnderualuations of our moneys in exchange to those of Germany and the Low Countries which is the maine Pillar to support the Par and so now there is no vndervaluation And thus with the Saytre he bloweth hot cold at one instant with one breath and withall he doth acknowledge that if the premises by vs declared were true as true and manifest they are That they be fearefull effects and againe that moneys are not so little inhaunced as 20 in the hundreth since the inhauncing begunne which we haue proued to be double or 100 vpon the hundreth well in good time t is mistaken to make it serue his turne He accuseth me of grosse errors for that the exchange is risen in price according to the valuation of moneys which euen now we haue proued to be false and if exchange should rise and fall accordingly that is to say if moneys rise beyond the Seas that the price of exchange should rise accordingly and if moneys doe rise here that then on the contrary the exchange should fall in price here what remedy can there be then in the inhauncing of the moneys when the price of exchange will still ouer rule the same Misseldens Errors as it were an inhauncing vpon an inhauncing betweene vs and other Countries vpon the price of exchange
to comfort the heart of our Natiue Commodities are put in obliuion Tobacco is imported in the liew of Spanish Royalls and Pistolets which causeth the prises the Hammers of the Mint to be weake and faint the Vrine they found to be of a cleere greenish colour proceeding from weakneâ— and the vse of too much white Wine sophisticated into Claret the Leggs full of dropsicke humors of consumption by the immoderate wearing of Veluets Silkes Cambricks and Lawnes engendring an ouerballancing or surfet of forreine commodities so that the Vitall Spirits of Bullion and Monly doth languish with a continuall Flux of exportation Considering the internal parts they found the liuer Money obstructed and the condinct pipes of Bullion and Moneys for importation stopt whereby the Hepaties could not minister good bloud with spirits sufficient to comfort the heart of our natiue commodities by a naturall heate for the gaule of Customes and impositions is ouerflown also depriuing the stomacke of his appetie hence the braine Exchange wanting sleepe is distempered whereby the body is ouertaken with a Trepidation or shaking shewing the very Symptomes of death Hereupon some Empricke being more forward then the learned Phisitians did deliuer his opinion that the said body by a surset or ouerballancing of forreine commodities is fallen into a consumption yet that nature is so strong that without Phisicke she will recouer againe her former health in progresse of time But herein he shall finde himselfe as much deceiued as the Spaniard was who being to go a iourney on foote resolued to go fasting conceiuing he should go the lighter but fainting by the way cryed out Aora hallo que las Tripas Ileâ—â—anel vientre y no el vientpe las Tripas now do I find that the Guts do carry the Belly not the Belly the whereupon he vsed afterwards meate and 〈◊〉 for his sustenance vpon the like occasion and found on the contrary that the abuse thereof did 〈…〉 surfeits in the Body naturall euen as the abuse of money and exchanges doth in the Body of Traffique whereunto Phisicke must be ministred vpon necessitie according to the disease Another Practitioner in Phisicke was of opinion that the Flux of exportation should be diuerted and stopt by opening the Meridian Veyne suffering moneys to be exported at the pleasure of Merchants but vpon better consideration of the weaknes of the Body through the former profusion of Bloud he did alter the said opinion obseruing that Art giuen no facility when nature wanteth ability for to increase Manufactures and Fishing thereby to cuâ—â— the said surfeit or ouerballancing Whereupon the learned Phisitians of experience hauing examined the causes of the diseases of this Body did resolue to apply and vse proper Remedies First That the continuall Flux of exportation of our moneys must be stopt by taking away the cause thereof which is Gaine had vpon moneys proceeding of the vndervaluation of our moneys in exchange and the inhauncing of moneys beyond the Seas Next That the obstruction of the Liuer Money and the conduict Pipes of Spanish Royalls and Germaine Dollers must be opened by the meanes of the Braine Exchange to minister good Bloud and Spirits to the Heart of our natiue Commodities to make a liuely Trade whereby Bullion brought to the Mint will cause the hammers as the 〈◊〉 of the Body of Trade to beate with temperate strokes by meanes whereof the distemperature of the Braine Exchange will be qualified the bitternes of the Gaule shall prouoke appetie when customes and impositions shall be moderated in the rates without diminution of substance the Sinâ—wes of the necessary ancient Statutes and Proclamations for the gouernment of Trade will be corroborated the Eye sight will be illuminated when the ouer much smoake of Tobacco is vanished away and the Complection will be liuely when Merchants shall be encouraged Wee shall not neede to vse Mechoacan or Indian Rootes against the Dropsie or Prohibitions against the ouermuch importation of forreine Commodities in the wearing of them which will enforce the like vse in other Countries for the humors of the Leggs will be euacuated and the convulsion of the face by our natiue Commodities truely made and vented will be extenuated for plenty of money shal aduance the quantity and price of them and abate the price of forreine Commodities whereby the Surfit or ouerballancing will be remedded if we preserue the good Bloud in the Body by the wisedome of the Braine Exchange where the seate of Iudgement is placed to increase the same for the comfort of the Heart our natiue Commodities which shall receiue thereby his tintered Chylus by his owne mouth and stomacke and the bloud full of Spirits shall fill all the veines and strengthen the Sinowes by supplying the want of moneys the easie course and recourse of whose Exchange finding rest by the Basis of true valuation shall supple the Ioynts and settle the bloud to serue all mens turnes whereby the said shaking of the body will cease the colour of the vrine will be rectified the too much vse of white Wine shall not be so much offensiue but in some measure reioyce the Heart and take away the melancholike disease of the mind which commonly procureth the disease of the Body Finally The Body will be cured of the said consumption and grow fat againe by a true and lawfull replection of the generall good of the King and Common-wealth through Gods blessings If this Allegory be truely considered we shall find that therein is a liuely expression of the diseases of the Politike Body of Trade and if a naturall Body had all the said diseases there is no other remedy nor way to to cure the same but after the maner here declared as the learned Phisitians of experience will confesse for the reasons are plaine and euident and without Phisicke it is impossible to cure it Will any man of iudgement thinke that the Flux will be stopt of course by the strength of nature so long as we minister such things which of themselues are laxitiue Or shall we expect that the Veines will be filled with Bloud when the Hepaties want their operation Or if Bloud did increase shall the Body receiue nutriment so long as there is a profusion of Bloud Or shall the Heart be comforted with the liuely spirits of the Bloud Shall the Braine receiue rest vnlesse she doe finde meanes to strengthen the Heart and that the Liuer the Heart and the 〈◊〉 may all in one Simpathy performe their functions The Stomacke cannot disgest euery thing prouoketh a surfet the Gaule by her ouerstowing hindereth appetite which bringeth a distemperature to the whole Body and filleth the same with crude humours engendring Dropsies and other diseases which at last turne into a consumption the Braine wanteth sleepe for the spirits are fatigated and troubled To make application hereof to the Body Politike of Trade we know that euen as in naturall Bodies the Heart which is the Center of the Body receiueth life