The Maintenance of Free Trade [2]
be regarded, especially if they may make the like benefite (in some measure) without hurt or detriment to the generall. Some Merchants doe deale all for Commodities, others for Monyes, and other some altogether for Exchanges or all three, or that which yeeldeth them most gaine: and commonly without consideration had of the good of the Commonwealth, which is the cause that Princes and Governours are to fit at the stern of the course of Trade and Commerce. For to speake ingeniously, Merchants cannot enter into consideration of the quantity of forraine commodities imported at deare rates, and the home commodities exported at lesser rates Respecitively in former time; by the disproportion whereof commeth an evident overballancing of commodities. Merchants doe not regard, whether the monyes of a Kingdome are undervalued in forraine parts, whereby our monyes are exported; when the exchange doth not answer the true value by Billes, and the monyes of other countryes cannot bee imported, but with an exceeding losse, which every man shunneth. True it is, that they observe within the Realme to keepe the price of money at a Stand, according to the Kings valuation: but in forraine parts, they runne with the streame, headlong downe with other nations, without consideration of their owne hinderance. Merchants doe not know the weight and finenesse of monyes of each Countrey, and the proportions observed betweene Gold and Silver, nor the difference of severall Standards of coyne; a matter so necessary for them to know, to make thereby profitable returnes of the provenue of our home commodities, either in Money, Bullion or Wares. Finally Merchants (seeking their Privatum Commodum) take notice onely of what is prohibited and commanded, whereas it may fall out also, that to require their opinion for the reformation of some abuses: they may bee thought many times as unfit, as to call the Vintner to the consultation of lawes to bee made against drunkards. Kings and Princes therefore, which are the fathers of the great families of Commonweales are to be carefull for the generall good so that the expences doe not exceede or surmount the incombes and revenues thereof, according to the saying of Marcus Cato, Oportet Patrem, familias, vendacem esse, non emacem, Hee must bee a Seller, and not a Buyer. For the effecting whereof, there is a serious study to bee had in the true understanding of the Three essential Parts of Traffique, whereof the course of exchange (which is the most neglected) will be found to bee the efficient Cause, which with us is Praedominant, and overruleth the course of Monys and Commodities, as shall be declared in this discourse. For these Three parts of Traffique concurre joyntly together in their proper function and nature, by an orderly carriage, according to their first invention and institution. For as the Elements are joyned by Symbolization, the Ayre to the Fire by warmness; the Water to the Ayre, by moisture; the Earth to the Water, by coldness: So is exchange joyned to monyes, and monyes to commodities, by their proper qualities and effects. And ever as in a Clocke, where there be many wheeles, the fist wheel being stirred, driveth the next, and that the third, and so foorth, till the last that moveth the instrument that strikes the clocke; even so is it in the course of Traffique: for since money was invented and became the first wheele which stirreth the wheele of Commodities and inforceth the Action. But the third wheele of exchange of monyes betweene Countrey and countrey, being established and grounded upon monyes, is (in effect) like to the instrument that striketh the Clocke, being therein the thing Active, and Commodities & Monyes are become things Passive: in so much that the Sequele thereof may be compared unto Archers shooting at the Buttes, directing their Arrowes according as the Blanke doth stand, high or low; for so do Merchants by exchange in the sale of commodities and negotiation of monyes, without which, commodities lie dead in all markettes. Since the Ancient Commutation of