Preface, The Answer. (2)

It is generally obserued, that his Maiesties Mint hath had but little imployment euer sithence the East India Trade began; Wherefore it is manifest, that the onely remedie for this, and so many euils besides, is to put downe this Trade: For what other remedy can there bee for the good of the Common-wealth?

THis fourth obiection may be diuided into three parts:

The first Part concerneth his Maiesties Mint.And first concerning the Euill or want of Siluer, I thinke it hath beene, and is a generall disease of all Nations, and so will continue vntill the end of the world; for poore and rich complaine they neuer haue enough: but it seemeth the malady is growen mortall here with vs, and therefore it cries out for remedie:25000 pounds waight at least of Siluer yearely melted downe into Plate, besides old Plate new fashioned, as by credible report. Well, I hope it is but imagination maketh vs sicke, when all our parts be sound and strong; For who knoweth not the inestimable treasure of this Kingdome in Plate, possessed by the people thereof, almost of all degrees; in such measure, as neuer hath beene seene in former ages?

There hath beene coyned great store of Gold and Siluer in his Maiesties Mint since the East India Trade began.And for his Maiesties Mint, it is well knowne, that there hath been coyned in fiue yeares together since the East India Company began, 6214. pounds waight of Gold, and 311384. pounds waight of sterling money; all which Gold and Siluer doe amount vnto the summe of 1213850. pounds of sterling Money; How then doth this Trade turne the currant and imployment of the Mint?

There hath beene little or no Siluer coyned in some yeares, when the East India Company sent out very small sums of money.But vpon the sight of this truth, perhaps it will be said, That wee must resort vnto the present times, (the Mint being idle now.)

To which I answer, That likewise the Mint had little or no imployment for coynage of Siluer in former times, when the said Company did not export aboue fifteene or twenty thousand pounds sterling at the most per annum; no, nor yet in the yeares 1608. and 1612: when in the former they shipped out but 6000.l.-00.s.-00.d. and in the latter, but 1250.l.-00.s.-00.d. sterling. So that both waies we see, that the Mint hath had very great imployment fiue years together, since the East India Trade began; and also it hath beene without imployment diuers years, when the East India Company haue sent away but very small summes of money; wherefore of necessity there must bee some other causes and meanes whereby our Siluer is not exported only, but also it is not imported into the Realme as in former times. For we haue not had the meanes by our owne plentie, nor by the scarcity of our neighbours (for the space of the last foureteene yeares together) to send out hundreds of Ships laden with Corne, as in times past, which was returned home in Siluer;Some causes and meanes which were wont to bring Siluer into the Realme, are ceased at this present time.but rather of late yeares (as is much to be feared) a great quantity of our money hath beene carried out of the Kingdome, for that corne which hath beene brought vs from the East Countries, and other places, to supply our wants. Thus times doe change, and our fortunes change with them: neither list I to make this matter plaine, by setting downe those meanes, which heretofore brought vs store of money, euen out of France and other places, which now are ceased. But without any further medling in the Mint, I will come to the remedy which some propound, by putting downe the East India Company.

The Second Part concerneth the putting downe of the East India Trade.But heere our comfort is, that the Obiectors are not our Iudges, whose wisedome & integrity labouring for the honour of his Maiestie, and the good of his Kingdome, wil soon perceiue the mischiefes of this supposed remedie. And that the pretended euil which many with malice chase, is that great good, which other Nations seeke by pollicie and strength to keepe, and likewise to obtaine. In which proceedings, it concerneth vs, especially to obserue the diligences and practices of the Dutch;The East India Trade is greatly desired by other Christian Nations. who with more gladnesse would vndertake the whole Trade to the East Indies, then with any reason we can abandon that part therof, which we now enioy; neither can our restraint from the Indies keepe our Siluer from thence, as long as the Dutch go thither: for we know, that deuices want not to furnish such designes; and when their Ships returne from India shall not our Siluer out againe to help to pay a double price, or what they please, for all those wares which we shall want for our necessities?

The Dutch might grow strong & rich by our destruction.Thus should the Dutch increase their honour, wealth and strength, whilest we abate, grow poore and weake at Sea for want of Trade; and call you this a Remedy; no, rather tearme it Ruine, Destruction, or what you list; And so I come vnto the conclusion, or last part.

The third Part concerneth the councel which the Obiecters demand.And here I must confesse my selfe aground, for this matter is much too high for my handling: besides, my excuse is faire, hauing already done my task to cleare the East India Trade from imputation; the which, for want of learning, although I haue performed without variety of words or eloquence: yet it is done with all integrity of truth, in euery particular, as I shall be ready to make proofe vpon all occasions which may be offered.

And yet before I make an end, although I cannot satisfie euery mans desire, in such measure as is necessarie: yet I thinke it not amisse to performe the same so farre as I am able by common practise, and my obseruations in the Trade of Merchandize, which is my profession.

And first therefore, all men do know, that the riches or sufficiency of euery Kingdome, State, or Commonwealth, consisteth in the possession of those things, which are needfull for a ciuill life.

This sufficiency is of two sorts: the one is naturall, and proceedeth of the Territorie it selfe: the other is artificiall, and dependeth on the industry of the Inhabitants.

The riches of a kingdome is of two sorts.The Realme of England (praised be God) is happily possessed of them both: as first, hauing great plentie of naturall riches, both in the Sea for Fish, and on the Land for Wooll, Cattle, Corne, Lead, Tin, Iron, and many other things for Food, Rayment, & Munition; insomuch, that vpon strickt tearmes of need, this land may liue without the help of any other Nation.

This kind of industry maketh some Countries which are poor in themselues, to grow rich and strong by other Nations, who haue greater means, and are lesse industrious.But to liue well, to flourish and grow rich, wee must finde meanes by Trade, to vent our superfluities; therewith to furnish and adorne vs with the Treasure and those necessarie wares, which forraine Nations do afford: and here industry must begin to play his part, not onely to increase and guide the Trades abroad; but also to maintaine and multiply the Arts at home: for when either of these faile, or are not effected with such skill as their mysterie shall require, then doth the Common-wealth abate and growes poore; neither is this easily perceiued at first, vntill some euil accidents do stir vp our diligence to search out the true causes, that so they being remoued, the effects may cease. And this is the subiect of our discourse which we now pursue.

That which I haue hitherto deliuered, hath beene altogether Negatiue, still defending and prouing by arguments, that the East India Trade hath not hurt this Common-wealth; and now changing my stile, I must affirme as fast the true causes of those euils which we seeke to chase away.

Foure Principall Causes which carry away our Gold and Siluer.These causes then (as I conceiue) are principally foure.

1. The first is the breach of Entercourse by forraine Nations.

2. The second is the abuse of the exchanges betwixt vs and other Countries.

3. The third is neglect of dutie in some Subiects.

4. The fourth is our dammage in Commerce with Strangers.

Now concerning all these, I might make a very large discourse; but my purpose is onely to explane the meaning of euery point in order, as briefely as I can.

And first for the breach of Entercourse; by this I vnderstand those Nations,The first Cause concerneth the Standard.who haue either debased their Standard, or else ouer-valued the price of their Coynes from that equiualence which formerly they had with the Standard and Moneys of this Realme; And also doe tollerate, not onely their owne Moneys, but also the Coyne of other CountriesProceedings against entercourse. (and especially of this Kingdome) to be currant with them at higher rates, then the prizes of the Exchange; by which courses (being directly against the Entercourse) there is a greater cause giuen of exportation of the Moneys of this Realme, then otherwise there would be. For although this is done with great danger to the exporters of the same, (it being an acte against the Law of the Land:) yet notwithstanding Couetousnesse, being euer conuersant in wicked actions, thinketh nothing vnlawfull, which promiseth a certaine gaine; and how to remedie this euill practice, I finde it not easie. For the debasing of the Coyne, or raising the price thereof in this Realme, would much impouerish the estates of particular men, and yet in the conclusion, would prooue a businesse without end: for who doth not conceiue that which would follow beyond the Seas vpon any such alteration here with vs? so that still the euill will remaine, vntill we find some other remedie.

The second Cause concerneth the Exchanges of moneys with forraine Countries.And for the exchanges of money, vsed betwixt Nations, although the true vse thereof is a very lawdable and necessarie practise, for the accommodating of Merchants affaires, and furnishing of Trauellers in their occasions, without the transporting of Coyne from one State to another, with danger and losse, both to the publique and priuate wealth; yet is the abuse thereof verie preiudiciall vnto this Kingdome in particular; whilest in the Interim the benefit doth arise vnto other Countries, who diligently obseruing the prizes whereby the moneys be exchanged, may take aduantage, to carry away the Gold and Siluer of this Realme at those times,The practise of those strangers here in this Realme, who make a Trade by Exchange of moneys. when the rate of our sterling money (in Exchange) is vnder the value of that Standard, vnto which place they are conueyed. For in respect the prizes of the Exchanges doe rise and fall according to the plentie or scarcitie of money, which is to be taken vp or deliuered out, the exchange is hereby become rather a Trade for some great monyed men, then a furtherance and accomodation of reall Trade to Merchants, as it ought to bee in the true vse thereof.

And thus many times money may be made ouer hither by Strangers, to a good gaine, and presently carryed beyond the seas to a second profit, and yet the mischiefe ends not here: for by this meanes the takers vp of money in forraine Countries must necessarily driue a Trade to those places,Forraine wares brought in with our ready moneys carried out of this Realme. from whence they draw their moneys; and so doe fill vs vp with forraine commodities, without the vent of our owne wares, but for this great euill there is an easie remedie: And so I come to handle the next cause, which is neglect of Dutie.

The third Cause concerneth neglect of duties.Neither is it my intent to write of Duties in their seuerall kinds; but onely of that kind of duty which is heere thought to bee neglected by some men in their seuerall vocations. As it might peraduenture come to passe, in those who haue the working of his Maiesties Coyne, either Gold or Siluer: if diligent care be not had in the size of euery seuerall peece, to answer iustly to his weight: for howsoeuer vpon triall of many peeces altogether, the weight may bee found according to the couenants,Our heauy money is conueyed beyond the seas, and melted downe into plate here in the Realme. and within the remedies ordained in the Indentures: Yet notwithstanding many of those peeces may be sized too light, and other as much too heauy; which giueth the greater aduantage to some people, to carry away that which is ouer-weight, and to leaue vs them which are too light, if they leaue vs any.

And this mischiefe is not single; for thereby also some Goldsmiths, regarding profit more then duty, may be the more readily drawne to melt downe the heauy Coyne into Plate, & other ornaments, both of Gold and Siluer.

But what might we thinke of those men who are placed in authority and office for his Maiesty, if they should not with all dutifull care discharge their trust concerning that excellent Statute,Anno 17. Edw. 4. wherein it is ordered, that all the moneys receiued by strangers for their Merchandize, shall bee employed vpon the commodities of this Realme? the due performance whereof would not only preuent the carrying away of much Gold and Siluer, but also be a meanes of greater vent of our owne wares: whereof I purpose to write something more in the next part, which concerneth our commerce with strangers.

The fourth Cause concerneth our commerce with strangers.And now I come to the last point, which I feare is not the least amongst the Causes of our want of money (so farre as any such may be:) and let it not seem strange to any man, that Trades should hurt and impouerish a Common-wealth, since it hath beene alwaies accounted an excellent means to help and enrich the same: for, as this truth cannot be denyed with reason, so it is likewise most certaine,Vnskilfull Merchants ouerthrow our Trades. that the vnskilfull managing thereof, hath euer proued a great decay vnto those Nations who haue beene entangled with such errors. And are not the examples too frequent in many of our owne Merchants, who not onely by the perils of the Seas, and such like misfortunes, lose their goods, but also euen through want of knowledge, wisely to direct their affaires, doe ouerthrow their whole estates: neither may we properly call this their losse, but rather the Kingdomes losse in them. Wherefore it were to be wished, that this mysterie of Merchandizing might be left onely to them, who haue had education thereunto;Merchants by education are onely fit to trade in forraine parts. and not to be vndertaken by such, who leauing their proper vocations, doe for want of skill in this, both ouerthrow themselues, and others who are better practised.

But there is yet a farre greater mischiefe by our Trades beyond the Seas, when peraduenture, there might be imported yearely a greater value in forraine wares, then by any way or meanes we doe export of our owne commodities; which cannot otherwise come to passe,How rich Commonwealths may become poore. then with a manifest impouerishing of the Commonwealth. For as it is a certaine cause to make vs rich, both in stock & treasure, when we shall carry out a greater value of our owne goods then we bring in of forraine wares; so by consequence, a course contrary to this, must of necessity worke a contrary effect.

Neither is this importation meant otherwise then concerning those wares which are consumed in this Realme: for the commodities which are brought in, and after carried out vnto forraine parts againe, cannot hurt,Forraine wares brought in for Transito, cannot hurt, but greatly helpe the Commonwealth. but doe greatly helpe the Commonwealth, by encrease of his Maiesties Customes and Trades, with other imployments of the subiects: by which particulars I might yet set forth the glory of the East India Trade, which hath brought into this Realme in 15. months space, not only so much Spice as hath serued the same for the sayd time; but also, by the superfluitie thereof, there hath beene exported into forraine parts about 215000. pounds sterling.Hopes to encrease Trade, by exportation of Indian wares to forraine parts. So then let all men iudge, for what a great value wee may hope hereafter to export yearely, when vnto these Spices we may (by Gods assistance) adde the infinite worth of Rawsilkes, Indicos, Callicoes, and some other things: All which are to be issued in the nature of Cloth, Lead, Tinne, or any of our owne Merchandize, to the enriching of this Kingdome, by encrease of the Common stocke. So then, to conclude this poynt, we ought not to auoid the importation of forraine wares, but rather willingly to bridle our owne affections, to the moderate consuming of the same: for otherwise, howsoeuer the East India Trade in particular is an excellent meanes greatly to encrease the stocke of money which we send thither yearely, by returning home fiue times the value thereof in rich commodities; all which (in short time) may be conuerted into Treasure, as is plainly shewd already in Page 21. Yet notwithstanding, if these Indian wares thus brought home,The particular Trade to the East Indies will bring great store of treasure into this Realme, if the generall Trade of this Kingdome doe not hinder and consume it. cannot be spared to serue for that purpose of Treasure, but must be sent forth together with our owne natiue commodities, and yet all little enough to prouide our excesse and extraordinarie consume of forraine wares: then is it likewise as certaine, that the generall Trade of this Kingdome doth hinder and diuert the comming in of the said Treasure, by ouer-ballancing the value of our wares exported, with the importation and immoderate consume of forraine commodities.

Therefore, forasmuch as the number of the people in this Realme are thought to be greatly increased of late time (both in themselues and strangers) whereby necessarily the commodities of this Kingdome, and also forraine wares, are the more consumed and wasted (a double meanes to abate the Commonwealth) it therefore concerneth vs all in generall, and euery man in his particular, to stirre vp our minds, and diligence, to helpe the naturall commodities of this Realme by industrie, and encrease of Arts; seeing that the materials cannot bee wanting to make such Stuffes, and other things as are daily brought vnto vs from forraine parts, to the great aduantage of Strangers,The Dutch in particular, are said to reape such infinite wealth yearely by this fishing Trade, that without more certain knowledge thereof I dare not set down the sum, it seemeth so vncredible. and to our no lesse dammage. Neither should we neglect the riches which our Seas affoord, whilest other Nations by their labour doe procure themselues great Treasure from the same. And as the diligent performance of these things, would plentifully maintaine the poore, and much increase the common stocke of this Kingdome: so likewise for the better furtherance thereof, we ought religiously to auoid our common excesses of food and rayment, which is growne to such a height in most degrees of people (aboue their abilitie) that it is now beyond all example of former ages. Neither is it needfull for me to set downe the particulars of these abuses; for they are too well knowne: and I am confident, that the wisedome of our Gouernement doth endeuour to see them as well amended, to the glorie of God, the honour of the King, and the good of the Common-wealth.

Amen.