England's Treasure by Foreign Trade [13]
all together or at once, for it were vanity and against their profit to keep continually in their hands above forty or fifty pounds in a family to defray necessary charges, the rest must ever run from man to man in traffique for their benefit, whereby we may conceive that a little mony (being made the measure of all our other means) doth rule and distribute great matters daily to all men in their just proportions: And we must know likewise that much of our old mony is worn light, and therefore would yield little or no profit at the Mint, and the gain upon the heavy, would cause our vigilant neighbours to carry over a great part thereof, and return it presently in pieces of the new stamp; nor do we doubt that some of our own Countrymen would turn Coiners and venter a hanging for this profit, so that His Majesty in the end should get little by such alterations. Yea but say some men, If His Majesty raise the mony, great store of treasure would also be brought into the Mint from forraign parts, for we have seen by experience that the late raising of our Gold ten in the hundred, did bring in great store thereof, more than we were accustomed to have in the Kingdom, the which as I cannot deny, so do I likewise affirm, that this Gold carried away all or the most part of our Silver, (which was not over worn or too light) as we may easily perceive by the present use of our Moneys in their respective qualities: and the reason of this change is, because our Silver was not raised in proportion with our Gold, which still giveth advantage to the Merchant to bring in the Kingdoms yearly gain by trade in Gold rather than in Silver. Secondly, if we be inconsistent in our Coins, and thereby violate the Laws of forraign Commerce; other Princes are vigilant in these cases to alter presently in proportion with us, and then where is our hope? or if they do not alter, what can we hope for? For if the stranger-merchant bring in his wares, and find that our moneys are raised, shall not he likewise keep his Commodities untill he may sell them dearer? and shall not the price of the Merchants exchange with forraign Countries rise in proportion with our Moneys? All which being undoubtedly true, why may not our Moneys be carried out of the Kingdom as well and to as much profit after the raising thereof, as before the alteration? But peradventure some men will yet say, that if our Moneys be raised and other Countries raise not, it will cause more Bullion and forraign Coines to be brought in than heretofore. If this be done, it must be performed either by the Merchant who hath exported wares, or by the Merchant who intents to buy off our Commodities: and it is manifest that neither of these can have more advantage or benefit by this Art now, than they might have had before the alteration of the Money. For if their said Bullion and forraign Coins be more worth than formerly in our pounds, shillings and pence, yet what shall they get by that when these moneys are baser or lighter, and that therefore they are risen in proportion? So we may plainly see that these Innovations are no good means to bring treasure into the Kingdom, nor yet to keep it here when we have it.
Chapter 9
A Toleration for Forraign Coins to pass current here at higher rates then their value with our Standard, will not encrease our Treasure.
The discreet Merchant for the better directing of his trade and his exchanges by bills to and from the several places of the world where he is acustomed to deal, doth carefully learn the Parity or equal value of the monies according to their weight and fineness compared with our Standard, whereby he is able to know perfectly the just profit or loss of his affairs. And I make no doubt but that we trade to divers places where we vent off our native commodities yearly, ot a great value, and yet find few or no wares there fitting our use, whereby we are enforced to make our returns in ready mony, which by us is either carried into some of the Countries to be converted into wares which we want, or else it is brought into the Realm
Chapter 9
A Toleration for Forraign Coins to pass current here at higher rates then their value with our Standard, will not encrease our Treasure.
The discreet Merchant for the better directing of his trade and his exchanges by bills to and from the several places of the world where he is acustomed to deal, doth carefully learn the Parity or equal value of the monies according to their weight and fineness compared with our Standard, whereby he is able to know perfectly the just profit or loss of his affairs. And I make no doubt but that we trade to divers places where we vent off our native commodities yearly, ot a great value, and yet find few or no wares there fitting our use, whereby we are enforced to make our returns in ready mony, which by us is either carried into some of the Countries to be converted into wares which we want, or else it is brought into the Realm