England's Treasure by Foreign Trade [24]
of blessed memory, and also condemned by those French Kings, Lewis the 9th, Philip the fair, and Philip de Valois, with confiscation of the Bankers goods? I must confess that all this requires an answer, which in part is already done by the Author himself. For he saith, that the wisdome of our State found out the evil, but they missed of the remedy; and yet what remedy this should be no man can tell; for there was none applyed, but all practise and use in Exchange stand still to this day in such manner and form as they did at the time when these Feats were discovered, for the State knew well that there needed no remedy where there was no disease. Well then, how sahll we be able to answer the proceedings of the French Kings who did absolutely condemn the Bankers, and confiscated their goods? Yes, well enough, for the Bankers might perhaps be condemned for something done in their exchanges against the Law, and yet their profession may still be lawful, as it is in Italy and France it self to this day. Nay we will grant likewise that the Banks were banished, when the Bankers were punished; yet all this proves nothing against Exchangers, for Kings and States enact many Statutes, and suddenly repeale them, they do and undo; Princes may err, or else Malynes is grosly mistaken, where he setteth down 35 several Statutes and other ordinances enacted by this State in 350 years time to remedy the decay of Trade, and yet all are found defective; only his reformation of the Exchange, or Par pro Pari, is effectual, if we wuld believe him; but we know better, and so we leave him. I might here take occasion to say something against another project of the same brood that lately attended upon the sucess of this Par pro pari, as I have been credibly informed, which is, the changing and re-changing here within the Realm, of all the Plate, Bullion and Monies, Forraign or Sterling, to pass only by an office called, The Kings Royal Exchanger, or his Deputies, paying them a Peny upon the value of every Noble: which might raise much to their private good, and destroy more to the publique hurt. For it would decay the Kings Coinage, deprive the Kingdom of much Treasure, abridge the Subjects of their just liberty, and utterly overthrow the worthy trade of the Goldsmiths, all which being plain and easie to the weakest understandings, I will therefore omit to amplify upon these particulars.
Chapter 15.
Of some Excesses and evils in the Commonwealth, which notwithstanding decay not our Trade nor Treasure.
It is not my intent to excuse or extenuate any the least excess or evil in the Commonwealth, but rather highly to approve and commend that which by others hath been spoken and written against such abuses. Yet in this discourse of Treasure, as I have already set down affirmatively, which are the true causes that may either augment or decrease the same: so is it not impertinent to continue my negative declarations of those enormities and actions which cannot work these effects as some men have supposed. For in redress of this important business, if we mistake the nature of the Malady, we shall ever apply such cures as will at least delay, if not confound the Remedy. Let us then begin with Usury, which if it might be turned into Charity, and that they who are Rich would lend to the poor freely; it were a work pleasing to Almighty God, and profitable to the Commonwealth. But taking it in the degree it now stands; How can we well say, that as Usury encreaseth, so Trade decreaseth? For although it is true that some men give over trading, and buy Lands, or put out their Money to use when they are grown rich, or old, or for some other the like occasions; yet for all this it doth not follow, that the quantity of the trade must lessen; for this course in the rich giveth opportunity presently to the younger & poorer Merchants to rise in the world, and to enlarge their dealings; to the performance whereof, if they want means of their own, they may, and do,take it up at interest: so that our money lies not dead, it is still traded. How many
Chapter 15.
Of some Excesses and evils in the Commonwealth, which notwithstanding decay not our Trade nor Treasure.
It is not my intent to excuse or extenuate any the least excess or evil in the Commonwealth, but rather highly to approve and commend that which by others hath been spoken and written against such abuses. Yet in this discourse of Treasure, as I have already set down affirmatively, which are the true causes that may either augment or decrease the same: so is it not impertinent to continue my negative declarations of those enormities and actions which cannot work these effects as some men have supposed. For in redress of this important business, if we mistake the nature of the Malady, we shall ever apply such cures as will at least delay, if not confound the Remedy. Let us then begin with Usury, which if it might be turned into Charity, and that they who are Rich would lend to the poor freely; it were a work pleasing to Almighty God, and profitable to the Commonwealth. But taking it in the degree it now stands; How can we well say, that as Usury encreaseth, so Trade decreaseth? For although it is true that some men give over trading, and buy Lands, or put out their Money to use when they are grown rich, or old, or for some other the like occasions; yet for all this it doth not follow, that the quantity of the trade must lessen; for this course in the rich giveth opportunity presently to the younger & poorer Merchants to rise in the world, and to enlarge their dealings; to the performance whereof, if they want means of their own, they may, and do,take it up at interest: so that our money lies not dead, it is still traded. How many