England's Treasure by Foreign Trade [36]
heretofore little better than a charge to them in their possession, and would be so again in the like occasion, the reasons whereof I might yet further enlarge; but they are not pertinent to this discourse, more than is already declared, to shew the different effects between Natural and Artificial Wealth: The first of which, as it is most noble and advantageous, being alwayes ready and certain, so doth it make the people careless, proud, and given to all excesses; whereas the second enforceth Vigilancy, Literature, Arts and Policy. My wishes therefore are, that as England doth plentifully enjoy the one, and is fully capable of the other, that our endeavours might as worthily conjoyn them both together, to the reformation of our vicious idleness, and greater glory of these famous Kingdomes.
Chapter 20.
The order and means whereby we may draw up the ballance of our Forraign Trade.
Now, that we have sufficiently proved the Ballance of our Forraign Trade to be the true rule of our Treasure; It resteth that we shew by whom and in what manner the said ballance may bedrawn up at all times, when it shall please the State to discover how we prosper or decline in this great and weighty business, wherein the Officers of his Majesties Customes are the onely Agents to be employed, because they have the accounts of all the wares which are issued out or brought into the Kingdome; and although (it is true) they cannot exactly set down the cost and charges of other mens goods bought here or beyond the seas; yet nevertheless, if they ground themselves upon the book of Rates, they shall be able to make such an estimate as may well satisfie this enquiry: for it is not expected that such an account can possible be drawn up to a just ballance, it will suffice onely that the difference be not over great. First therefore, concerning our Exportations, when we have valued their first cost, we must add twenty-five per cent. thereunto for the charges here, for fraight of Ships, ensurance of the Adventure, and the Merchants Gains; and for our Fishing Trades, which pay no Customs to his Majesty, the value of such Exportations may be easily esteem'd by good observations which have been made, and may continually be made, according to the increase or decrease of those affairs, the present estate of this commodity being valued at one hundred and forty thousand pounds issued yearly. Also we must add to our Exportations all the moneys which are carried out in Trade by license from his Majesty. Secondly, for our Importations of Forraign Wares, the Custome-books serve onely to direct us concerning the quantity, for we must not value them as they are rated here, but as they cost us with all charges laden into our Ships beyond the Seas, in the respective places where they are bought: for the Merchants gain, the charges of Insurance, Fraight of Ships, Customes, Imposts, and other Duties here, which doe greatly indear them unto our use and consumption, are not withstanding but Commutations amongst our selves, for the Stranger hath no part thereof: wherefore our said Importations ought to be valued at twenty five per cent. less than they are rated to be worth here. And although this may seem to be too great allowance upon many rich Commodities, which come but from the Low Countreys and other places neer hand, yet will it be found reasonable, when we consider it in gross Commodities, and upon Wares laden in remote Countreys, as our Pepper, which cost us, with charges, but four pence the pound: so that when all is brought into a medium, the valuation ought to be made as afore-written. And therefore, the order which hath been used to multiply the full rates upon wares inwards by twenty, would produce a very great errour in the Ballance, for in this manner the ten thousand bags of Pepper, which this year we have brought hither from the East Indies, should be valued at very near two hundred and fifty thousand pounds, whereas all this Pepper in the Kingdomes accompt, cost not above fifty thousand pounds, because the Indians have had no more of us, although
Chapter 20.
The order and means whereby we may draw up the ballance of our Forraign Trade.
Now, that we have sufficiently proved the Ballance of our Forraign Trade to be the true rule of our Treasure; It resteth that we shew by whom and in what manner the said ballance may bedrawn up at all times, when it shall please the State to discover how we prosper or decline in this great and weighty business, wherein the Officers of his Majesties Customes are the onely Agents to be employed, because they have the accounts of all the wares which are issued out or brought into the Kingdome; and although (it is true) they cannot exactly set down the cost and charges of other mens goods bought here or beyond the seas; yet nevertheless, if they ground themselves upon the book of Rates, they shall be able to make such an estimate as may well satisfie this enquiry: for it is not expected that such an account can possible be drawn up to a just ballance, it will suffice onely that the difference be not over great. First therefore, concerning our Exportations, when we have valued their first cost, we must add twenty-five per cent. thereunto for the charges here, for fraight of Ships, ensurance of the Adventure, and the Merchants Gains; and for our Fishing Trades, which pay no Customs to his Majesty, the value of such Exportations may be easily esteem'd by good observations which have been made, and may continually be made, according to the increase or decrease of those affairs, the present estate of this commodity being valued at one hundred and forty thousand pounds issued yearly. Also we must add to our Exportations all the moneys which are carried out in Trade by license from his Majesty. Secondly, for our Importations of Forraign Wares, the Custome-books serve onely to direct us concerning the quantity, for we must not value them as they are rated here, but as they cost us with all charges laden into our Ships beyond the Seas, in the respective places where they are bought: for the Merchants gain, the charges of Insurance, Fraight of Ships, Customes, Imposts, and other Duties here, which doe greatly indear them unto our use and consumption, are not withstanding but Commutations amongst our selves, for the Stranger hath no part thereof: wherefore our said Importations ought to be valued at twenty five per cent. less than they are rated to be worth here. And although this may seem to be too great allowance upon many rich Commodities, which come but from the Low Countreys and other places neer hand, yet will it be found reasonable, when we consider it in gross Commodities, and upon Wares laden in remote Countreys, as our Pepper, which cost us, with charges, but four pence the pound: so that when all is brought into a medium, the valuation ought to be made as afore-written. And therefore, the order which hath been used to multiply the full rates upon wares inwards by twenty, would produce a very great errour in the Ballance, for in this manner the ten thousand bags of Pepper, which this year we have brought hither from the East Indies, should be valued at very near two hundred and fifty thousand pounds, whereas all this Pepper in the Kingdomes accompt, cost not above fifty thousand pounds, because the Indians have had no more of us, although