The Maintenance of Free Trade [29]
Others say, that those merchants, which have sold their Cloth beyond the Seas shall receive a losse in the making over of their money from thence. 3. Others say, that they shall not be able to vent their Cloth, according to the high exchange, expecially now that the same is out of request; and would have the matter of reformation deferred untill an other time. The first objection is answered before, That the taker is ruled by the deliverer, who will not give his money by exchange under the true value according to the Proclaimation to be made; and the deliverer being the Merchant stranger here, will sooner be thrust upon the Statute of employment; for by the exportation of money, he shall have no gaine, whereas some of the discreeter sort would not have that Statute too stricktly pressed upon the Stranger, because the Trade should not bee driven into their hands. To the second, the Proclamation limiting a time for execution, giveth Merchants ability to recover their moneys, or to sell their billes of debt for money, or to buy Commodities for them, as the manner is. To the third, experience maketh a full answer to both, that there did not want takers, when the late inhauncing of money at Hamborough, caused the exchange to rise from under 28 shillings to above 35 shillings; which is more then the present alteration will be, and Wooll was at 33 shillings the Todde, which is now fallen under 20 shillings. So that the vent of our Cloth was not hindered when it was solde dearer by one full third part: But there was above 80 thousand Clothes sold yearely, where there is not sold now 40 thousand Clothes. The time is also to bee thought more convenient to advance a Commoditie being undervalued, then to doe it when the price is high. For this Pleurisie of the Common-wealth is dangerous, and admitteth no time to bee cured; like the fire in a City, which permitteth not enquiries to examine how the fire beganne, but requireth every mans helpe to quench the same. And whereas it is alleadged in defence of the inhauncing of our Coyne, That which is equall to all, when hee that buyes deare, shall sell deare, cannot be saide to be injurious to any. This opinion seemes to be eiusdem farina, as the former, and hath no consideration what the alteration of Weights or Measures betweene us and forraine nations, may produce to the losse of the Common-wealth, albeit that betweene man and man, it may proove alike in some respects. To make this evident, suppose two Merchants, the one dwelling in London, and the other dwelling at Amsterdam, do contract together; that the Londer sending Clothes to sell at Amsterdam, the merchant of Amsterdam sendeth him Velvets and Silkes to bee solde at London; and in the account to be kept betweene them they agree to reckon the moneys in exchange but at 30 shilings flemish for 20 shilling Starlin, and so make returne each to other from time to time as money shall be received, both, here and beyond the Seas. Wherupon put the case, that there is received at Amsterdam 1500 lib. flemish for Cloth, and at London there is received 1000 lib. Starlin for Velvets and Silkes, which by the said rate & calculation is all one (in effect) between them, and might by way of Rescounter answer each other in account. But the Merchant of Amsterdam, (knowing that by reason of the moneys inhaunced there) he can make a great gaine to have the said 1000 lib. sent unto him in specie:) desireth the Londoner to send him this 1000 lib Starlin in silver & gold coyns, Realls of eight or Rieckx Dollers, wherby he shal profite 15 upon the 100, by the meanes aforesaid, which amounteth to 150 lib gaines. The Londoner having his 1500 lib. flemish or 1000 lib. Starlin at Amsterdam, cannot doe the like, because the moneys are inhaunced and received above the value, so that his money must be delivered by exchange there at a low rate, or at 33 shillings 4 pence, whereby he doth receive here the said 1000 lib. with no gaine at all. Thus the account betweene them is made even; but by these means, the Kingdome is deprived of the