the maintenance of free trade-第5章

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se　of　exchange；　according　to　which；　they　are　both　waies　sold　and　bought。　Is　there　any　man　of　judgement；　who　seeth　not；　That　this　overballancing　doth　expell　our　moneys　out　of　the　Realme；　and　which　are　（in　effect）　as　it　were　given　to　boote　to　other　Nations　to　Countervaile　this　inequalitie？　Let　them　consider　of　the　Reasons　following。　　　　　　First；　moneys　being　undervalued　in　exchange；　causeth　the　price　of　our　home　Commodities　to　be　abated；　and　to　bee　sold　better　cheape　in　forraine　parts；　&　is　also　the　cause　that　our　moneys　are　continually　Transported。　　　　　　Secondly；　the　moneys　being　Transported；　taketh　away　the　lively　course　of　Traffique　of　our　said　Commodities；　and　causeth　young　merchants　to　Runne　by　exchanges　upon　Bills　to　maintaine　their　Trade；　paying　great　Interest　for　money；　which　they　cannot　take　up　at　Use　upon　their　single　Bond；　as　they　can　doe　by　a　Bill　of　exchange；　without　Sureties。　　　　　　This　causeth　the　said　young　Merchants　and　others　to　make　rash　Sales　of　their　Commodities　beyond　the　Seas；　to　pay　their　Bills　of　exchanges；　whereby　they　overthrow　the　Markets　of　others；　and　make　them　to　Sell　good　cheape。　　　　　　So　on　the　contrary；　the　Coynes　being　over…valued　in　exchange；　and　also　inhaunced　beyond　the　Seas；　causeth　the　price　of　forraine　Commodities　to　be　increased　more　then　our　home　commodities；　and　our　Merchants　are　compelled　of　course；　to　make　Returne　thereby。　For　they　cannot　import　those　overvalued　moneys；　but　to　their　exceeding　great　losse；　and　by　exchange；　they　finde　few　Takers；　unlesse　it　be　our　young　Merchants；　which　doe　consume　their　Estates　by　exchanges　&　Rechanges：　For　of　the　Three　Essential　Parts　of　Traffique；　we　have　but　the　use　of　one；　which　is　the　buying　of　forraine　Commodities　to　make　Returnes　homewards；　and　doth　increase　the　consumption　of　the　said　Wares。　　　　　　Moneys　remaining　hereby　plentifull　beyond　the　Seas；　the　rather　for　that　they　make　Bills　obligatory；　serve　as　ready　Money；　which　they　Transferre　and　set　over　betweene　man　and　man　for　the　paiment　of　Moneys　or　Wares；　causeth　there　a　lively　course　of　Trade；　whereby　their　Commodities　are　advanced　in　price　&　sale；　neither　are　they　compelled　to　sel　them；　but　at　their　price；　because　they　finde　money　at　interest　at　5　and　6　in　the　hundred。　This　money　is　made　daily　more　plentifull；　by　our　Spanish　Merchants；　which　doe　divert　the　Realls　of　Spaine；　as　before　hath　beene　declared：　hence　it　proceedeth；　that　our　home　Commodities；　are　many　times　sold　beter　cheape　beyond　the　Seas　then　here；　for　although　Merchants　doe　lose　thereby；　they　make　account　to　gaine　more；　by　the　low　exchange；　delivering　their　moneys　there；　or　taking　of　them　up　here　by　exchange；　to　pay　their　Bills　of　exchange　at　an　undervalue：　insomuch；　that　many　Merchants　having　no　commodities　there；　may　take　up　money　here；　and　sending　over　the　same　in　specie；　will　pay　there　with　their　Bill　of　exchange；　and　Gaine　（by　dexteritie　of　wit）　15　in　the　hundreth　in　lesse　than　two　moneths　time。　Thus　when　Gaine　is　practised　by　exchange；　the　Commodities　of　the　Realme　are　less　vented；　and　the　moneys　are　exported；　which　causeth　the　lesse　employment　here　to　be　made　upon　our　Commodities：　Even　as　the　importation　of　moneys　being　hindered　（by　the　inhauncing　of　the　Coynes　beyond　the　Seas：）　compelleth　our　Merchants　to　make　the　greater　employment　upon　forreine　Commodities　at　deere　Rates。　　　　　　For　the　Commodities　beyond　the　Seas；　are　in　the　hands　of　them　that　make　sale　of　them；　upon　a　certaine　price　（as　it　were）　at　their　pleasure；　having　Plenty　of　Money；　at　a　cheape　Rate　at　interest；　whereas　also　they　have　no　man　to　undersell　them；　here　and　there；　as　our　Merchants　doe　our　Commodities；　which　（without　all　comparison：）　are　farre　much　fallen　in　price；　then　the　forraine　Commodities　now　somewhat　abated　in　price。　　　　　　Concerning　other　Commodities　imported；　As　Wines；　Raisons；　Corints；　Tobacco；　and　Spices　of　the　East　Indies：　Let　us　briefely　observe；　that　the　Wines　of　France　might　be　bought　better　cheap；　if　the　money　of　the　Realme　were　not　undervalued　in　exchange；　for　wheras　heretofore　they　gave　us　in　payment　their　French　Crowne　of　Gold　for　64。　Soulx；　now　they　give　us　the　same　at　75　Soulx；　which　Crowne　was　then　worth　6　shillings；　6　pence　Starlin；　and　their　quart　d'eseu　now　paied　for　16　Soulx　and　above；　was　then　but　15　Soulx；　for　which　we　gave　here　（accompting　4　to　the　Crowne　of　Silver）　69　pence　and　thereabouts；　and　now　72　pence　and　above。　　　　　　And　besides　that；　more　of　our　native　Commodities　were　vented　with　better　profit；　according　to　th'exchange；　for　the　Rule　is；　that　the　lesse　of　Starlin　money　wee　doe　reckon　in　exchange　with　them；　the　more　is　the　Gayne　of　our　Commodities。　The　like　may　be　applyed　for　the　Trade　of　Corints；　which　is　now　provided　by　other　means。　But　the　limitations　to　restraine　all　men　from　importing　them；　then　onely　those　of　the　Levant　company；　maketh　no　free　Trade　of　this　Commodity；　nor　other　the　like。　　　　　　The　immoderate　Use　of　that　weede　Tobacco　hath　beene　so　effectuall　in　debarring　us　from　Spanish　Realls　to　be　（as　formerly）　imported　to　a　great　value　yearely：　but　the　wisedome　of　the　State　hath　so　qualified　the　same；　that　our　Merchants　trading　in　Spaine　doe　now　sell　Perpetuanoes；　Bayes；　Sayes；　and　other　our　home　Commodities　to　benefite；　which　before　were　sold　to　losse；　to　have　moneys　to　buy　this　Tobacco；　that　the　Spaniard　did　say；　Todo　te　pagara　in　humo；　All　shall　be　paid　with　smoake。　　　　　　The　fourth　cause　of　the　want　of　Money　in　England；　is　（as　the　said　Author　saith）　The　great　want　of　our　East　India　stocke　here　at　home；　which　he　termeth　the　especiall　Remote　Cause；　whereas　most　men　would　have　expected　that　the　ready　moneys　sent　in　Realls　of　Plate　to　make　the　employment　of　the　said　Trade；　would　rather　have　beene　mentioned。　My　meaning　is　that　to　become　a　Trapez　untia　Flatterer。　For　AEsops　Moral；　That　the　Lyon　could　not　be　healed　without　the　Apes　Liver：　that　is；　Princes　can　not　be　safe　without　the　destruction　of　flatters：　remaineth　still　fresh　in　memory；　but　in　favour　of　truth　and　Policy；　I　am　resolved　to　deliver　my　plaine　and　sincere　opinion；　concerning　the　said　Trade；　which　began　with　us　in　England　immediately　after　the　great　Jubile　yeare；　1600。　　　　　　In　the　Discourse　made　of　the　Trade　from　England　into　the　East　Indies　be　truely　collected；　no　doubt　the　said　Trade　may　be　found　very　profitable　hereafter；　albeit　it　hath　beene　very　difficult　in　the　beginning；　according　to　the　Proverb；　Omut　principium　grave；　especially　when　the　Controversies　betweene　us　and　the　Hollanders　shall　be　determined；　and　their　agreements　established。　　　　　　For　if　Pepper　doe　but　cost　two　pence　halfe…penny　the　pound　in　the　Indies；　and　that　tenne　shillings　imployed　therein　will　require　but　35　shillings　for　all　charges　whatsoever；　to　deliver　it　in　London；　where　it　is　usually　sold　for　above　20　pence：　It　followeth　by　consequence；　that　there　must　be　a　very　great　gaine；　which　will　increase；　when　the　said　parties　shall　be　united　in　true　Love；　and　buy　the　said　Commodities　better　cheape；　and　so　proportionably　for　all　other　Spices；　drugges；　silkes；　indicoe's　and　Callecoes。　　　　　　Againe；　if　one　hundreth　thousand　pounds　in　money　exported　may　import　the　value　of　500　thousand　pounds　Starlin　in　wares　of　Commodities：　albeit　England　do　not　spend　above　120　thousand　pounds；　and　380　thousand　pounds　in　exported　unto　divers　forraine　parts；　and　there　sold　for　ready　for　ready　money　with　great　advantage。　　　　　　And　lastly；　if　the　very　Commodities　of　the　Realme　exported　into　the　East　Indies；　will　buy　so　much　as　England　useth　of　their　Commodities；　and　the　employment　is　made　for　forraine　Coyne　or　Realls　of　8　procured　from　other　places；what　man　of　understanding　can　justly　finde　fault　with　that　Trade？　If　treatise　were　imported　thereby　unto　us；　as　their　finall　end；　as　the　Discourse　saith；　but　that　other　Trades　do　divert　the　same？　For　when　the　said　Indian　Commodities　are　sent　from　England　into　Turkie；　Ligorne；　Genoway；　the　Low　Countries；　Marselleis　and　other　places；　and　are　sold　for　ready　money：　The　same　is　imployed　againe　upon　Gorints；　Wines；　Cotton…Wooll　and　Yearne；　Galles　and　divers　other　Commodities；　wherewith　the　Ships　beeing　reladen：　yet　a　great　proportion　remaineth　to　be　brought　over　in　moneys；　which　are　diverted　from　us；　by　the　course　of　exchange　in　undervaluing　our　moneys；　as　hath　beene　declared。