Having shewed the many and manifold Causes of the decay of Trade in the Matter and Forme thereof: It remaineth now to present the Remedy. Which according to the precedent Method, Iwill apply unto all the particulers in their order. Onely the Remedies for the Effects, I shall present in the Causes: for the Causes being removed, the Effects must needs cease, according to the common Maxime in Philosophy, Sublata causa tollitur effectus.
In my former distribution I considered the Causes of the decay of Trade, in the Matter and Forme thereof: and in the Matter I insisted on Money and Merchandize. The Causes of the want of money, I shewed some to be Immediat; some Mediat or remote. the Immediat Causes, I noted to be such, as either hinder the Importation; or such as cause the Exportation; and both in the Under-valuation of His Majesties Coine. The Remedy offer's it selfe, which is double. First, how it may be got: and next how it may be kept. The former may be done two wayes: By Raising of the Kings Coine; and by ****** current Forreine Coines at equall value. The latter, also may be done two wayes: By another manner of Execution of the Statute for Employments then heretofore: wherein there is some reason not to expresse my selfe as I might:
And by His Majesties Princely and Prudent Negotiation, with the Princes of our Neighbour Countries, the States of the united Provinces especially, to keepe a more constant course in the values of their Coines. Neither of which can be done by the Par of Exchange, which is now again in agitation, and hath taken more then twenty yeeres to bring it to perfection. Wherein, absit invidia verbo, that I say, there is neither Parity, nor Purity.For it is not the rate of Exchanges, but the value of monies, here lowe, elsewhere high, which cause their Exportation: nor doe the Exchanges, but the plenty or scarcity of monies cause their values. Or if I should grant that to be the cause which is not: yet it doth not follow, that because the Stranger, like enough, would be a deliverer heere of money at a high rate, that therefore the English must take it. And then the consequence will be ill: for if the rate be such as the Taker like not, then the Deliverer is yet more thrust upon the exportation. But this Ileave to those to whom this project is committed, with this, that this opinion seemes to be ciusden farinae, with another of his, in his Canker of Englands Commonwealth, in these words: "And it were to be wished, that our Cloth were sold at so deare a rate, and according to the price of forreine Commodities, that thereby other nations would take upon them to make our Clothes themselves: which might easily bee remedied, by selling our woolles the dearer, whereof they must make them." Which seemes to have in it much more Dutch then English, to deprive this Kingdome of so Royall a Manufacture, whereby so many thousands of poore families, ae maintained in the same: as if hee would cure one Canker with another, contrary to our Saviours Argument, that Satan cannot cast out Satan. But I returne to mine owne Station: and therein to answer the objections that doe occurre the raising of Money: which are wont to be principally, either the continuall Raising of it, to follow the Rising of forreine Coine; or else the inevitable losse that thereby will fall, Generally upon all men in the endearing of all things; and Particularly upon Landlords and Creditors, in their rents and contracts.
For the continuall Raising of the Coine, that will be needlesse, if the meanes be sufficient for executing the Statute for employments, whereby the Money may be kept within the land when we have it. And for the dearnesse of things, which the Raising of Money bringeth with it, that will be abundantly recompensed unto all in the plenty of Money, and quickning of Trade in every mans hand. And that which is equall to all, when hee that buye's deare shall sell deare, cannot bee said to be injurius unto any. And it is much better for the Kingdome, to have things deare with plenty of Money, whereby men may live in their severall callings: then to have things cheape with want of Money, which now makes every man complaine.
Lastly, for Landlords and Creditors, their losse is easie to be prevented by Proviso, that the Contracts made before the raising of the Monies shall be paide at the value the Money went at, when the Contracts were made: according to the disposition of the Civill Law in this case: Valor monetae considerandus &inspiciendus est a tempore contractus, non autem a tempore solutionis.
The raising also of the Coine, would raise the price of Plate: whereby either there would bee lesse superfluity that way, or else more old Plate, which perhaps in some mens hands is kept up for Treasure, would be brought out, to be molten into Coine.
The Mediate or Remote Causes of the want of Money, I observed to bee either Domestique or Forreine. The Domestique, Generall or Speciall. The Generall, the great Excesse of the Kingdome, in consuming the Commodities of forreine Countries in such abundance, to our own losse. And amongst those, the great excesse in Tobacco is none of the least: which if it might seeme good to the High Wisdome of His Majestie, to restraine, or at least to give a tolleration of the Virginia and Barmudo's only: there might be a great deale of Pietie and Policy shewed in this Remedy. For in the one respect, it would tend to a great enriching of that plantation, which so happily succeedeth through Gods blessing: and in the other it would advantage the King and the Kingdome, in the redresse of the disorder of the Spanish Trade, and in bringing in Treasure in stead of that Toye, more then the Rent that is now raised to His Majestie for the same.
The Superfluity of other Commodities may bee restrained by lawes Vestiary and Sumptuary, according to the example of Germany & other our Neighbor Countries.
