Of want of Government in Trade.
Wise men have noted, that A Distinction only, doth dispell the foggy misteries of deceitfull fallacies: as the Sun drives away the Winde and Cloudes. Therefore too many distinctions in a little Treatise may seeme superfluous, especially when they are grounded upon many Repetitions: so that having in the former Chapters, observed the Defective Parts of Trade, and tacite answered some objections, I will omit, the commendation of all the Societies of Merchants, handled by the said Author in his fourth chapter, as also the effects of the former Causes, as they may concerne the Kings Majestie and the Common-wealth mentioned in the fift and sixt Chapters, to avoyd the cramming of a man with learning, as promises doe with hope; and so come to his propounded Remedies.
But lest this Title of the want of Government in Trade, should seeme to be misapplyed: I have thought good to declare, wherein Merchants may easily commit errors, to the prejudice of the Common-wealth, albeit, it maketh for their private benefit, namely;In the selling of their Cloth good cheape beyond the Seas in greater quantitie, when they have beaten downe the price with the Clothier, whereby the Clothier is forced to doe the like with the Wooll-grower, which disimproveth the Revenue of lands; but the Merchant employeth the lesser Stocke, and hath not therfore the lesse benefit; the Wool-grower and the Clothier bearing the losse.
To make over their moneys from beyond the Seas, at a low price of exchange, in giving lesse money there, to have the same paied here by Bill of exchange in Starlin money, receiving the moneys there at such prices, as they cannot import them, but to their exceeding losse: whereby it commeth to passe, that the exportation of our moneys, giveth an exceeding gaine on the contrary, and our Cloth is thereby more undersold as afore said.
To connive or winke at the false making of Cloth, and afterwards to abate the greater Tare, for the faults upon the Clothier.
To make continuall Returnes of our Cloth in forraine Commodities, and thereby procure the more gaine, because of the small gaine or losse either, had upon their Clothes, whereby the Common-wealth is impoverished.
To sell our Cloth so good cheape beyond the Seas, that other Nations may make a Trade thereby for Russia, Eastland, Barbary, and other Countries, to the great hinderance of the Merchants of those Societies.
To abate the Customes and Impositions here laid upon Clothes, to the end, they may sell them better cheape, by underselling others.
To undersell our Clothes so much in price, that in comparison of the Cloth made beyond the Seas, the Drapery there bee given over, without regard had, how to Returne some money and Bullion, but by tranferring of their Bills of debt for forraine Commodities, to over-lade the Kingdome with them at deere Rates, according to the inhauncing of their Coynes; all which may prove beneficiall to them in particular, but wonderfull prejudiciall to the whole Kingdome.
Now, before we come to intreat of the Remedies for all the afore-said inconveniencies, it is most necessary to examine the Defective Meanes and Remedies, which have beene tried, these 350yeeres. And these may be distinguished in their proper and severall natures, three manner of waies; for the wealth of a Kingdome cannot properly decrease but by selling our native Commodities too good cheape, by buying the forraine Wares too deere, and by the exportation of our moneys in specie, or by way of exchange for moneys by Bills.
1. First, the Statute of Employment made for Merchants Strangers, for 3 3spciall causes. 1. The advancing of the price and sale of our native Commodities. 2. To prevent the over-ballancing of forraine Commodities And 3. To preserve the moneys within the Realme.
2. The lodging of Merchant Strangers with free hoasts, who had an inspection of their negotiations for Commodities and moneys.
3. The keeping of Staples for Woolls, Woolsels, and other Commodities beyond the Seas, with the Correctors and Brokers to Register the buying and sellings of Strangers.
4. To cause Denizons to pay Strangers Customes.
5. The Sunday Treaties and Conferences, with the Commissioners of other Princes, about merchandise moneys and exchanges.
