A Discourse of Coin and Coinage [30]
France, and yet did
he transport such Armies and maintain them so long in the Holy
Land, Egypt and Affrick, besides the payment of an excessive
Ransom to the Mammalukes for his Liberty, as this present King
was not able to do the like, though his Revenue were three times
as much as it is, of which there can be no other cause answerable
to the effect, but the excessive increase of the price of all
things, more than the increase of Gold and Silver in the Kingdom.
And if these Kingdoms of England and France are so much impaired
in ability by this Means, how much more must those Kingdoms be
disabled which are more remote, and draw these Mettals from Spain
but at a second or third hand: I am perswaded that the
consequence of this hath more advanced the affairs of Spain in
these later times than the success of their Armys: neither can
any other Remedy be propounded to this Mischief but one, which is
to fetch these materials of Money from the fountain it self. And
for my part I do confidently believe that future times will find
no part of the Story of this Age so strange, as that all the
other States of Europe have endured this ruinous Inconvenience
with so great Indifference, or rather Stupidity, so long, and
that they have not combined together to enforce a liberty of
Trade in the West Indies; the restraint whereof is against all
Justice, Trade being de Communi Jure an appendant of Peace, and
against the Example of former Ages.
It is true, that the Romans who of all other Nations were
most advantageous in their publick Contracts, did enjoyn the
Carthaginians, that they should not sail beyond certain
Promontaries with their vessels of War, but never debarred
Commerce and Trade into any parts.
And the Muscovites and those of China, who forbid all Access
unto Strangers in their Dominions, do notwithstanding permit all
Fairs and Markets in their parts and entries of their Countries
for commerce with other Nations, with whom they have no
Capitualations of Peace.
But the Spaniards and Portugals do not only forbid all access
and commerce to the West and East Indies within their Dominions,
but do define and bound their Dominions, in a manner unheard of
to all former Ages, and with an arrogancy more than humane; for
whereas all other Nations, since the World began, have claimed
and denominated their Dominions either from their own possession
or the possession of their Ancestors, the Spaniards and
Portugals, in a contrary way, draw certain imaginary Mathematical
lines through Heaven and Earth, and claim for theirs all that
lieth within the compass of these lines, as if they would
incroach upon God in Heaven, as well as upon Men on Earth.
Chapter 12
Of the raising of the Price of Moneys by our Neighbours, and the
defect of our not raising of our Moneys accordingly.
Both these Causes are assigned of the Rarity of Money, and
are indeed the same, and do both stand and fall together, and
both are assigned for causes of Exportation of our Gold and
Silver, and for Impediments of the importation of these Materials
unto us: For if it be true that our Neighbours by the raising of
the price of the Moneys of Gold and Silver, do the more abound in
Gold and Silver, it is true likewise, that if we do not raise
ours in the same Proportion, we shall much less abound in the
same Materials: And if it be true, that they by raising theirs do
draw a greater quantity of Gold and Silver into their States, it
is likewise true, that they do not only thereby withdraw from us
that quantity of Gold and Silver, which would otherwise be
imported unto us, but they do facilitate the exportation from us,
of that whereof we are already possessed: But, on the contrary,
if these Positions be not true, then all the Consequences
inferred upon them are not true likewise; Now because almost all
the deliberations in matters of Money do resort to the one or the
other side of this main Question, Whether the raising of the
price of Moneys doth really and stably increase the abundance of
Money
he transport such Armies and maintain them so long in the Holy
Land, Egypt and Affrick, besides the payment of an excessive
Ransom to the Mammalukes for his Liberty, as this present King
was not able to do the like, though his Revenue were three times
as much as it is, of which there can be no other cause answerable
to the effect, but the excessive increase of the price of all
things, more than the increase of Gold and Silver in the Kingdom.
And if these Kingdoms of England and France are so much impaired
in ability by this Means, how much more must those Kingdoms be
disabled which are more remote, and draw these Mettals from Spain
but at a second or third hand: I am perswaded that the
consequence of this hath more advanced the affairs of Spain in
these later times than the success of their Armys: neither can
any other Remedy be propounded to this Mischief but one, which is
to fetch these materials of Money from the fountain it self. And
for my part I do confidently believe that future times will find
no part of the Story of this Age so strange, as that all the
other States of Europe have endured this ruinous Inconvenience
with so great Indifference, or rather Stupidity, so long, and
that they have not combined together to enforce a liberty of
Trade in the West Indies; the restraint whereof is against all
Justice, Trade being de Communi Jure an appendant of Peace, and
against the Example of former Ages.
It is true, that the Romans who of all other Nations were
most advantageous in their publick Contracts, did enjoyn the
Carthaginians, that they should not sail beyond certain
Promontaries with their vessels of War, but never debarred
Commerce and Trade into any parts.
And the Muscovites and those of China, who forbid all Access
unto Strangers in their Dominions, do notwithstanding permit all
Fairs and Markets in their parts and entries of their Countries
for commerce with other Nations, with whom they have no
Capitualations of Peace.
But the Spaniards and Portugals do not only forbid all access
and commerce to the West and East Indies within their Dominions,
but do define and bound their Dominions, in a manner unheard of
to all former Ages, and with an arrogancy more than humane; for
whereas all other Nations, since the World began, have claimed
and denominated their Dominions either from their own possession
or the possession of their Ancestors, the Spaniards and
Portugals, in a contrary way, draw certain imaginary Mathematical
lines through Heaven and Earth, and claim for theirs all that
lieth within the compass of these lines, as if they would
incroach upon God in Heaven, as well as upon Men on Earth.
Chapter 12
Of the raising of the Price of Moneys by our Neighbours, and the
defect of our not raising of our Moneys accordingly.
Both these Causes are assigned of the Rarity of Money, and
are indeed the same, and do both stand and fall together, and
both are assigned for causes of Exportation of our Gold and
Silver, and for Impediments of the importation of these Materials
unto us: For if it be true that our Neighbours by the raising of
the price of the Moneys of Gold and Silver, do the more abound in
Gold and Silver, it is true likewise, that if we do not raise
ours in the same Proportion, we shall much less abound in the
same Materials: And if it be true, that they by raising theirs do
draw a greater quantity of Gold and Silver into their States, it
is likewise true, that they do not only thereby withdraw from us
that quantity of Gold and Silver, which would otherwise be
imported unto us, but they do facilitate the exportation from us,
of that whereof we are already possessed: But, on the contrary,
if these Positions be not true, then all the Consequences
inferred upon them are not true likewise; Now because almost all
the deliberations in matters of Money do resort to the one or the
other side of this main Question, Whether the raising of the
price of Moneys doth really and stably increase the abundance of
Money