other parts were distracted from the Crown of France； and yet did
he transport such Armies and maintain them so long in the Holy
Land； Egypt and Affrick； besides the payment of an excessive
Ransom to the Mammalukes for his Liberty； as this present King
was not able to do the like； though his Revenue were three times
as much as it is； of which there can be no other cause answerable
to the effect； but the excessive increase of the price of all
things； more than the increase of Gold and Silver in the Kingdom。
And if these Kingdoms of England and France are so much impaired
in ability by this Means； how much more must those Kingdoms be
disabled which are more remote； and draw these Mettals from Spain
but at a second or third hand： I am perswaded that the
consequence of this hath more advanced the affairs of Spain in
these later times than the success of their Armys： neither can
any other Remedy be propounded to this Mischief but one； which is
to fetch these materials of Money from the fountain it self。 And
for my part I do confidently believe that future times will find
no part of the Story of this Age so strange； as that all the
other States of Europe have endured this ruinous Inconvenience
with so great Indifference； or rather Stupidity； so long； and
that they have not combined together to enforce a liberty of
Trade in the West Indies； the restraint whereof is against all
Justice； Trade being de Communi Jure an appendant of Peace； and
against the Example of former Ages。
It is true； that the Romans who of all other Nations were
most advantageous in their publick Contracts； did enjoyn the
Carthaginians； that they should not sail beyond certain
Promontaries with their vessels of War； but never debarred
Commerce and Trade into any parts。
And the Muscovites and those of China； who forbid all Access
unto Strangers in their Dominions； do notwithstanding permit all
Fairs and Markets in their parts and entries of their Countries
for commerce with other Nations； with whom they have no
Capitualations of Peace。
But the Spaniards and Portugals do not only forbid all access
and commerce to the West and East Indies within their Dominions；
but do define and bound their Dominions； in a manner unheard of
to all former Ages； and with an arrogancy more than humane； for
whereas all other Nations； since the World began； have claimed
and denominated their Dominions either from their own possession
or the possession of their Ancestors； the Spaniards and
Portugals； in a contrary way； draw certain imaginary Mathematical
lines through Heaven and Earth； and claim for theirs all that
lieth within the compass of these lines； as if they would
incroach upon God in Heaven； as well as upon Men on Earth。
Chapter 12
Of the raising of the Price of Moneys by our Neighbours； and the
defect of our not raising of our Moneys accordingly。
Both these Causes are assigned of the Rarity of Money； and
are indeed the same； and do both stand and fall together； and
both are assigned for causes of Exportation of our Gold and
Silver； and for Impediments of the importation of these Materials
unto us： For if it be true that our Neighbours by the raising of
the price of the Moneys of Gold and Silver； do the more abound in
Gold and Silver； it is true likewise； that if we do not raise
ours in the same Proportion； we shall much less abound in the
same Materials： And if it be true； that they by raising theirs do
draw a greater quantity of Gold and Silver into their States； it
is likewise true； that they do not only thereby withdraw from us
that quantity of Gold and Silver； which would otherwise be
imported unto us； but they do facilitate the exportation from us；
of that whereof we are already possessed： But； on the contrary；
if these Positions be not true； then all the Consequences
inferred upon them are not true likewise； Now because almost all
the deliberations in matters of Money do resort to the one or the
other side of this main Question； Whether the raising of the
price of Moneys doth really and stably increase the abundance of
Money in any State； or if it do increase the quantity； whether
that increase be not more prejudicial than beneficial to the
Commonwealth？ I intend to handle this Question； and all the
incidents pertaining to it； as exactly as I can。 And
First I purpose to set down the benefits that do grow to the
State by the raising of the Moneys； and the Prejudices that do
grow by the not raising of Moneys： And then I intend to set down
the Benefits that do grow by the not raising of Money； and the
Prejudices that do grow by the raising of Money： The I purpose to
examine； and to answer； or allow the Reasons made on both sides。
And lastly； I intend to set down what Remedies have been
propounded for the avoiding of all Inconveniences which may grow
to the State either by the raising or not raising of Moneys； or
both of them； and to examine the same： And here I must again
require an extraordinary Patience and Attention in the Reader；
because that upon the hinges of this Question； the whole Mystery
of the Government and ordering of Moneys in the Commonwealth is
moved； and the question it self is very intricate and perplexed；
and the Reasons alledged on both sides are full of Subtilty。
Chapter 13
Of the Benefits which do grow unto the State by the raising of
Moneys； and the Prejudices which do by not raising of it。
They which propound to have our Moneys of Gold and Silver
raised to a parity at the least with other Nations in general；
have their aim and scope but upon one only Benefit to redound
thereby to the Common…wealth； which is； the encrease of Money and
the Materials thereof； but with that there are many other
important Benefits concurring； as
First； The encrease of Trade and Manufactures； which are
always best managed； where Money doth most abound。 The venting of
domestical Commodities； for that if our own Moneys be as high in
value； as those of other Nations； our own Commodities must be
vented with them whether we have need of their Commodities； or
they have need of ours； because there will be no Profit to fetch
their Commodities with our Moneys： and again； the raising of our
Moneys doth make Commodities vented in other parts at an higher
price； because； when our Neighbours do raise their Moneys； they
do still hold in common estimation that Proportion in value to
our Moneys； which they held before they were raised； though in
Intrinsical value they want so much thereof as they are raised；
by which means our Commodities being sold for the same Rates
which they were sold for before； are sold for so much less as the
Intrinsical value is impaired： But if our Moneys were likewise
raised； then our Merchants must of necessity sell our Commodities
at higher Rates in name than they did before； or else they should
not make their Reckonings。 The abundance likewise of Money doth
enable Tenants the better to pay their Rents； and all men in
general to keep up and maintain their Credits； and to pay all
publick Charges and Contributions； and these Benefits may suffice
in general without specifying many others； which have concurrency
with these or consequently from them。
And for the Prejudices； which do grow by the not raising of
our Moneys in a parity to other Nations； they are easily
expressed by these； for admitting these Benefits to grow by the
raising of Money； the Prejudices which will grow by the not
raising of them； will be the contrary to these。
But the main knot of the business is to prove； that the
raising of Moneys doth really encrease the quantity of Money in
any State； or doth preserve it from diminution。 For that they do
alledge these reasons：
First； The Practice of all antiquity； in all States
whatsoever； which could not possibly fall out except there were
found an inevitable necessity to raise themselves to a parity
with their Neighbours； of which the Examples are laid down in the
former part of this Treatise； but specially that of the
thirteenth of Henry the Fourth is very pregnant； where； by advice
of Parliament； Money was raised； the reason being alledged； That
for want of raising it； the Realm was improvished and exhausted
of Money。
A second Reason which they alledge is the general and
constant observation； that when Moneys are raised they grow
plentiful； whereof we do see with our eyes an evident
demonstration in this Kingdom； for that Gold having been raised
in price of late years is grown much more plentiful than it was
in the days of Queen Elizabeth： but the Silver having not been
raised in Proportion； is grown very scant and rare in respect of
the abundance which was then seen。
But these are rather Authorities and Observations than
Reasons： but the main Reason whereon the maintainers of this side
do stand is this； When your Money is richer in substance and
lower in price than that of your Neighbour Nations； as our Silver
is than the Silver in the Low Countries； how can you expect that
the Merchant； who only seeketh his profit； will ever bring hither
any Silver； when he can sell it in the Low Countries at a higher
Rate； and make more money of it here by returning of it from then
hither； or by Exchange； or by Commodities？ or； if any Merchant do
bring Silver hither； it is to sell it to such who will give a
higher rate for it； than can be produced at the Mint； as the
price of our Silver Coins now stands； in which manner although
there be much brought over； yet being sold in that sort； it is
not only direct against the Law but turns to no use of the
Common…wealth。
And again； whatsoever laws are made against Transportation of
our Moneys； if our Silver be so rich as the Merchant by
transporting it into the Low Countries； or elsewhere； can make
profit by returning it in Commodities； or by Exchange； or that；
which is yet more clear and evident； by returning it in Gold；
must not our Silver be inevitably exhausted？ And certainly these
Reasons seem to me so evident to sence and apprehension； that
instead of propounding the Arguments I should resolve the
Question； if the reasons on the other side did not appear at the
least as cleer and strong as these； to wh