A Discourse of Coin and Coinage [31]
in any State, or if it do increase the quantity, whether
that increase be not more prejudicial than beneficial to the
Commonwealth? I intend to handle this Question, and all the
incidents pertaining to it, as exactly as I can. And
First I purpose to set down the benefits that do grow to the
State by the raising of the Moneys, and the Prejudices that do
grow by the not raising of Moneys: And then I intend to set down
the Benefits that do grow by the not raising of Money, and the
Prejudices that do grow by the raising of Money: The I purpose to
examine, and to answer, or allow the Reasons made on both sides.
And lastly, I intend to set down what Remedies have been
propounded for the avoiding of all Inconveniences which may grow
to the State either by the raising or not raising of Moneys, or
both of them, and to examine the same: And here I must again
require an extraordinary Patience and Attention in the Reader,
because that upon the hinges of this Question, the whole Mystery
of the Government and ordering of Moneys in the Commonwealth is
moved, and the question it self is very intricate and perplexed,
and the Reasons alledged on both sides are full of Subtilty.
Chapter 13
Of the Benefits which do grow unto the State by the raising of
Moneys, and the Prejudices which do by not raising of it.
They which propound to have our Moneys of Gold and Silver
raised to a parity at the least with other Nations in general,
have their aim and scope but upon one only Benefit to redound
thereby to the Common-wealth, which is, the encrease of Money and
the Materials thereof; but with that there are many other
important Benefits concurring; as
First, The encrease of Trade and Manufactures, which are
always best managed, where Money doth most abound. The venting of
domestical Commodities, for that if our own Moneys be as high in
value, as those of other Nations, our own Commodities must be
vented with them whether we have need of their Commodities, or
they have need of ours; because there will be no Profit to fetch
their Commodities with our Moneys: and again, the raising of our
Moneys doth make Commodities vented in other parts at an higher
price; because, when our Neighbours do raise their Moneys, they
do still hold in common estimation that Proportion in value to
our Moneys, which they held before they were raised, though in
Intrinsical value they want so much thereof as they are raised,
by which means our Commodities being sold for the same Rates
which they were sold for before, are sold for so much less as the
Intrinsical value is impaired: But if our Moneys were likewise
raised, then our Merchants must of necessity sell our Commodities
at higher Rates in name than they did before, or else they should
not make their Reckonings. The abundance likewise of Money doth
enable Tenants the better to pay their Rents, and all men in
general to keep up and maintain their Credits, and to pay all
publick Charges and Contributions; and these Benefits may suffice
in general without specifying many others, which have concurrency
with these or consequently from them.
And for the Prejudices, which do grow by the not raising of
our Moneys in a parity to other Nations, they are easily
expressed by these, for admitting these Benefits to grow by the
raising of Money, the Prejudices which will grow by the not
raising of them, will be the contrary to these.
But the main knot of the business is to prove, that the
raising of Moneys doth really encrease the quantity of Money in
any State, or doth preserve it from diminution. For that they do
alledge these reasons:
First, The Practice of all antiquity, in all States
whatsoever, which could not possibly fall out except there were
found an inevitable necessity to raise themselves to a parity
with their Neighbours, of which the Examples are laid down in the
former part of this Treatise; but specially that of the
thirteenth of Henry the Fourth is very pregnant, where, by advice
of Parliament, Money was raised, the reason
that increase be not more prejudicial than beneficial to the
Commonwealth? I intend to handle this Question, and all the
incidents pertaining to it, as exactly as I can. And
First I purpose to set down the benefits that do grow to the
State by the raising of the Moneys, and the Prejudices that do
grow by the not raising of Moneys: And then I intend to set down
the Benefits that do grow by the not raising of Money, and the
Prejudices that do grow by the raising of Money: The I purpose to
examine, and to answer, or allow the Reasons made on both sides.
And lastly, I intend to set down what Remedies have been
propounded for the avoiding of all Inconveniences which may grow
to the State either by the raising or not raising of Moneys, or
both of them, and to examine the same: And here I must again
require an extraordinary Patience and Attention in the Reader,
because that upon the hinges of this Question, the whole Mystery
of the Government and ordering of Moneys in the Commonwealth is
moved, and the question it self is very intricate and perplexed,
and the Reasons alledged on both sides are full of Subtilty.
Chapter 13
Of the Benefits which do grow unto the State by the raising of
Moneys, and the Prejudices which do by not raising of it.
They which propound to have our Moneys of Gold and Silver
raised to a parity at the least with other Nations in general,
have their aim and scope but upon one only Benefit to redound
thereby to the Common-wealth, which is, the encrease of Money and
the Materials thereof; but with that there are many other
important Benefits concurring; as
First, The encrease of Trade and Manufactures, which are
always best managed, where Money doth most abound. The venting of
domestical Commodities, for that if our own Moneys be as high in
value, as those of other Nations, our own Commodities must be
vented with them whether we have need of their Commodities, or
they have need of ours; because there will be no Profit to fetch
their Commodities with our Moneys: and again, the raising of our
Moneys doth make Commodities vented in other parts at an higher
price; because, when our Neighbours do raise their Moneys, they
do still hold in common estimation that Proportion in value to
our Moneys, which they held before they were raised, though in
Intrinsical value they want so much thereof as they are raised,
by which means our Commodities being sold for the same Rates
which they were sold for before, are sold for so much less as the
Intrinsical value is impaired: But if our Moneys were likewise
raised, then our Merchants must of necessity sell our Commodities
at higher Rates in name than they did before, or else they should
not make their Reckonings. The abundance likewise of Money doth
enable Tenants the better to pay their Rents, and all men in
general to keep up and maintain their Credits, and to pay all
publick Charges and Contributions; and these Benefits may suffice
in general without specifying many others, which have concurrency
with these or consequently from them.
And for the Prejudices, which do grow by the not raising of
our Moneys in a parity to other Nations, they are easily
expressed by these, for admitting these Benefits to grow by the
raising of Money, the Prejudices which will grow by the not
raising of them, will be the contrary to these.
But the main knot of the business is to prove, that the
raising of Moneys doth really encrease the quantity of Money in
any State, or doth preserve it from diminution. For that they do
alledge these reasons:
First, The Practice of all antiquity, in all States
whatsoever, which could not possibly fall out except there were
found an inevitable necessity to raise themselves to a parity
with their Neighbours, of which the Examples are laid down in the
former part of this Treatise; but specially that of the
thirteenth of Henry the Fourth is very pregnant, where, by advice
of Parliament, Money was raised, the reason