And so much for the Remedies about the matter of Trade in Money, the Merchandize followeth. Which I considered Jointly or Apart. The things that hindred the whole Trade, I noted to be Deficient, as the want of Money, or the East India Stocke, which have their Remedy before: or Efficient, as Usury and Litigious Suits of law, to the Remedies whereof we now proceede. The Remedy for Usury, may be plenty of Money. For then, men will have no such cause to take Money at interest, as when Money is scant. For as it is the scarcitie of Money that maketh the high rates of interest: so the plentie of Money will make the rates Low, better then any Statute for that purpose. For although in the Netherlands, it is lawfull for a man to take twenty in the hundred if he can get it (wherein it seemes the Author of the Tract against Usuary was misinformed) yet there, commonly money is let at 6 and 7 in the hundred, by reason of the plenty of Money.
Or there is another Remedy for Usury, in giving liberty to the subjects if so it may seeme good to His Majesties High Wisedome) to buy and sell, and to transport Billes of debt from man to man: according to the Custome of Germany and the Low Countries. Which is found to be an excellent meanes to supply mens wants in course of trade; and tendeth also to the enlarging thereof. And for the Extorsion upon the poore above noted: if a stocke of Money were raised in manner of a Lumbard, or otherwise in London, and in the Countries whre much poore depend on Clothing; and else-where where there is cause, whereby the multitudes of poore wherewith the Kingdom swarmeth, might be from time to time supplied for a small consideration; it would certainly give great encouragement to the poore to labour, it would set on worke many fatherless children that are ready to sterve, it would benefit the Common-wealth by their labours, and it would be an acceptable worke to Almighty God, so to supply their wants, and not to suffer the faces of the poore to be ground by the extorsion of any. And I am perswaded, that every good man would be willing, either to give, or to lend, toward the raising of a stocke of Money for this purpose.
For Litigious suits of Law, if men bestowed halfe that study and cost in trade, which now adies is spent in temerous and rash suits of Law; surely the benefite that thence would arise to the Common-wealth, would equall or exceede in value, that which is spent in Law, which I thinke cannot be valued. The Remedy requireth great consideration for such is the Cause.
That the suites of Law in this Kingdome are now infinitely increast, to that they were in elder times, I thinke it is out of question: the Quaere is about the cause thereof. Litigious suits of Law, may seeme anciently to have beene restrained, either by Sureties, or Fines, or both. Of the Former there is yet a defaced print in the Common-Pledges of Doe and Roe. Which were of old the names of true and reall sureties, but are now become formall only, and saigned names of Course and Solemnity. Whence also it is, that in staed of Reall sureties in London, saigned sureties are devised fromt he dwelling of the party Plaintife: As for example: if the plaintife dwell in Cheape-side: they enter for his Sureties upon the Record of Court, John Cheape, and Richard Side. And in like manner whresoever else the Plaintife dwelleth.
Of the Latter, to wit of Fines, the use of them both in the Kings Bench & Common-Pleas, continueth unto this day. In the Kings Bench the Fines are not so ancient for those began in the 8yeare of His Majesties Happy raigne over this Kingdome: neither are they of like value to those of the Common-Pleas. Whereof His Majesties made then a Graunt to certaine Patentees for terme of yeares. But in the Common-Pleas, the Fines upon Originall Writs, are held by the learned in the Law, to bee as ancient as the Common-Law it selfe.
Now whether the use of Sureties, or the Institution of Fines, were invented for the restraint of Ligitious suits of Law: or the Disuse and inequality of them, tendeth to the encrease thereof; Ihumbly leave that, to the wisedome and judgement of the Reverend Judges, and others learned in the Law: least I seeme {Greek phrase omitted}. Neverthelesse there seems to me, to be a print of them, in the Lawes and Customes of Forreine Nations. For which, if you please, let us heare Maimon a great Rabbi. Hebraei, litigiosum hominum genus, saith he, duplum rependere coegerunt, qui debitum scienter denegaret.
Also Festus Pomeius, cited by Bodin. Romani, decimam partem eius rei, quae in controversiam veniret in privatis, aut trouersiam veniret in privatis, aut quintam in publicis iudiciis, imperiabant, Ac licet Romanie in Republica libera, Vectigalia &tributa imperare fibi difficilime paterentur, Vectigalia tamen Iudiciaria patienter tulerunt.
Also Hootoman. Romani Sacramentum constituerunt, certam viz. pecuniae summanm, ut qui indicio vicisset, suum sacramentum auferret, victi aute ad aerarium rediret.
And lastly Bodin. Carolus IX. Vectigal Iudiciarium ad cohibendam litigatorum hominum indomitam atque effrenatam licentiam imperauit. Quo vix ullum afflictis aerarii opibus utilius, & Galliae Imperio litium innumerabili multitudine appresso, splendidius cogitari poterat.
There is also in France an excellent restraine of Law suits, by a Law Merchant, establihsed in Roan, Lions, and Tholosa: whereby the other higher Courts of Justice are eased of those Knotty questions that often fall out in matters of Commerce, which are harder to bee determined by the learned in the Law, and not so hard for Merchants and men of Trade.
