England's Treasure by Foreign Trade [12]
same time our Commodities are over-ballanced by forraign wares consumed, and that the Merchants success prove no better than is before declared. But here we must not take the Kings gain in this large sense, for so we might say that His Majesty should get, although half the trade of the Kingdom were lost; we will rather suppose that whereas the whole trade of the Realm for Exportations and Importations is now found for to be about the yearly value of four million and a half of pounds; it may be yet increased two hundred thousand pounds per annum more by the importation and consumption of forraign wares. By this means we know that the King shall be a gainer near twenty thousand pounds, but the Commonwealth shall lose the whole two hundred thousand pounds thus spent in excess. And the Merchant may be a loser also when the trade shall in this manner be increased to the profit of the King: who notwithstanding shall be sure in the end to have the greatest loss, if he prevent not such authority courses as do impoverish his Subjects.
Chapter 8
The enhansing or debasing our Moneys cannot enrich the Kingdom with treasure, nor hinder the exportation thereof.
There are three waysby which the Moneys of a Kingdom are commonly altered. The first is when the Coins in their several Denominations are made currant at more or less pounds, shillings or pence than formerly. The second is when the said Coins are altered in their weight, and yet continue currant at the former rates. The third is when the Standard is either debased or enriched in the fineness of the Gold and Silver, yet the Moneys continue in their former values. in all occasions of want or plenty of Money in the Kingdom we do ever find divers men, who using their wits for a remedy to supply the first and perserve the last, they fall presently upon altering the moneys; for, say they, the raising of the Coins in value will cause it to be brought into the Realm from divers places in hope of the gain: and the debasing of the monies in the fineness or weight will keep it here for fear of the loss. But these men pleasing themselves with the beginning onely of this weighty business, consider not the progress and end thereof, whereunto we ought especially to direct our thoughts and endeavours. For we must know, that money is not only the true measure of all our other means in the Kingdom, but also of our forraign commerce with strangers, which therefore ought to be kept just and constant to avoid those confusions which ever accompany such alterations. For first at home, if the common measure be changed, our Lands, Leases, wares, both forraign and domestique must alter in proportion: and although this is not done without much trouble and damage also to some men, yet in short time this must necessarily come to pass; for that is not the denomination of our pounds shillings and pence, which is respected, but the intrinsique value of our Coins; unto which we have little reason to add any further estimation or worth, if it lay in our power to do it,for this would be a special service to Spain, and an act against our selves to indear the commodity of another Prince. Neither can these courses which so much hurt the Subjects, any way help the King as some men have imagined: for although the debasing (for once only) to the Mint, yet all this and more would soon be lost agian in the future great In-comes of His Majesty, when by this means they must be paid yearly with mony of less intrinsique value then formerly; Nor can it be said that the whole loss of the Kingdom would be the profit of the King, they differ infinitely: for all mens estates (be it leases, lands, debts, wares or mony) must suffer in their proportions, whereas His Majesty should have the gain only upon so much ready mony as might be new Coined, which in comparison, would prove a very small matter: for although they who have other estates in mony are said to be a great number, and to be worth five or ten thousand l. per man, more or less, which amounts to many millions in all, yet are they not possessed thereof
Chapter 8
The enhansing or debasing our Moneys cannot enrich the Kingdom with treasure, nor hinder the exportation thereof.
There are three waysby which the Moneys of a Kingdom are commonly altered. The first is when the Coins in their several Denominations are made currant at more or less pounds, shillings or pence than formerly. The second is when the said Coins are altered in their weight, and yet continue currant at the former rates. The third is when the Standard is either debased or enriched in the fineness of the Gold and Silver, yet the Moneys continue in their former values. in all occasions of want or plenty of Money in the Kingdom we do ever find divers men, who using their wits for a remedy to supply the first and perserve the last, they fall presently upon altering the moneys; for, say they, the raising of the Coins in value will cause it to be brought into the Realm from divers places in hope of the gain: and the debasing of the monies in the fineness or weight will keep it here for fear of the loss. But these men pleasing themselves with the beginning onely of this weighty business, consider not the progress and end thereof, whereunto we ought especially to direct our thoughts and endeavours. For we must know, that money is not only the true measure of all our other means in the Kingdom, but also of our forraign commerce with strangers, which therefore ought to be kept just and constant to avoid those confusions which ever accompany such alterations. For first at home, if the common measure be changed, our Lands, Leases, wares, both forraign and domestique must alter in proportion: and although this is not done without much trouble and damage also to some men, yet in short time this must necessarily come to pass; for that is not the denomination of our pounds shillings and pence, which is respected, but the intrinsique value of our Coins; unto which we have little reason to add any further estimation or worth, if it lay in our power to do it,for this would be a special service to Spain, and an act against our selves to indear the commodity of another Prince. Neither can these courses which so much hurt the Subjects, any way help the King as some men have imagined: for although the debasing (for once only) to the Mint, yet all this and more would soon be lost agian in the future great In-comes of His Majesty, when by this means they must be paid yearly with mony of less intrinsique value then formerly; Nor can it be said that the whole loss of the Kingdom would be the profit of the King, they differ infinitely: for all mens estates (be it leases, lands, debts, wares or mony) must suffer in their proportions, whereas His Majesty should have the gain only upon so much ready mony as might be new Coined, which in comparison, would prove a very small matter: for although they who have other estates in mony are said to be a great number, and to be worth five or ten thousand l. per man, more or less, which amounts to many millions in all, yet are they not possessed thereof