a discourse of coin and coinage-第12章

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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　which　I　will　now　proceed。

Chapter　14

The　benefits　which　do　grow　to　the　State　by　the　not　raising　of
Money；　and　the　Prejudices　which　do　grow　by　the　raising　of　it。

　　　　The　Benefit　which　groweth　to　the　State　by　the　not　raising　of
money；　is　only　this；　To　avoid　alteration：　But　the　Prejudices
which　are　alledged　to　grow　by　the　raising　of　it；　are　many；
　　　　First；　by　the　Injustice　and　Oppression　which　all　they　undergo
who　contract　for　Money　current；　at　the　time　of　the　Contract；　and
are　after　paid　with　extream　Disadvantage　in　other　Money　really
less　in　value；　though　in　Name　the　same：　and　although　to　this　it
be　said；　The　Creditor　is　not　interested　herein；　because　he　paieth
away　the　Money　which　he　receiveth　at　the　same　rate　he　received
it；　yet　that　answer　is　not　satisfactory；　because　admitting　this
Position　for　true；　That　when　the　Intrinsical　value　is　diminished；
the　Price　of　things　bought　with　Money　doth　rise　in　Proportion；
the　Creditor　when　he　paieth　out　his　Money　at　the　same　rate；　at
which　he　received　it　cannot　notwithstanding　with　it　buy　the　same
Commodities；　which　he　might　have　bought　with　the　Money；　for　which
he　contracted；　and　consequently　is　diminished　so　much　thereby；　as
the　price　of　things　is　raised。
　　　　And　although　I　did　in　a　former　Chapter　shew；　That　the　price
of　things　doth　rise　by　experience；　as　the　value　of　Money　is
raised；　yet　because　the　Truth　or　Falsehood　of　this　Position　doth
mainly　import　all　the　Deliberations　incident　to　this　subject　of
Money；　as　I　have　formerly　observed　in　some　Experiments　where　it
did　so　fall　out；　so　I　will　now　set　down　the　Reasons；　why　of
necessity　it　must　be　so；　as　One　reason　is　this：
　　　　When　the　Merchant　stranger　brings　his　Commodities；　whether　he
intends　to　make　his　return　in　Moneys　or　in　Commodities；　he　maketh
his　own　sale　by　the　measure　of　the　Money　here；　and　then　examines
how　much　this　Money　will　amount　to　in　the　Moneys　of　his　own
Countrey；　where　he　bought　his　Commodities；　and　if　he　find　the
Money　here　diminished　in　intrinsical　value；　he　must　then　dem