ThisTradeoftheHollandersfortheEastIndiesbeganupontheEmbargoesmadeinSpainoftheirgoodsandinterruptionoftheirTrade，whereintheydidassociatethemselveswiththeGermanestodisperseandventtheirsaidIndiacommoditiesbetterandspeedier。
　　TothisArgumentappertaineth，theconsiderationoftheTradesoutofChristendome，maintainedforthemostpartwithreadymoneys。AsforTurkieandPersia，whereintheabundanceofSilverandGoldcomeintoEurope，sincetheWestIndieswerediscovered，istobenoted，whichhathmadeeverythingdeareraccordingtotheincreaseofmoney，whichlikeuntoanOcean，dividingtheCourseintoseveralbranchesindiversCountries，hathcausedagreatalteration。ButEnglanddothnotparticipatebytheCourseofTraffiqueaproportionableCompetentshareofthesaidaboundanceofmoneys，asothernationsdoe:albeitnotmanyyearessince，wehadmoremoneysthenintimespast，beforethesaidediscoveryoftheWestIndies:Butwemustnowmeasurethingsaccordingtothesaidabundance，whichismuchdiminishedbythecontinuallexportationofmoneysfortheEastIndiesfromallplacesofTraffique。
　　ThefifthCauseoftheWantofMoneyinEngland，heesaith，aretheWarresofChristendome，causingexportationofmoneys，andthePirateshinderingimportationofmoney。ThelatterismeerelyaPreventionorRobbingofourmoneys，whicharesupposed，mightbebroughtin。ButifPiratesdidnottakesomeofourmoneys，itfollowethnot，thatthesameshouldcomeuntousinspecie。Forexperience，bytheexampleoftheSpanishMerchants，divertingtheReallsof8fromus（forGainetobemadeinforraineparts:）proovethuntousthecontrary。GaynebeeingalwaiestheScopeofMerchants:andtoproovethatthisGayne，ismadeReallyonelybytheabuseofexchange（whichotherwisewouldbebutImaginary），weehavealreadydeclared。
　　NowtouchingtheexportationofmonyesbythewaresofChristians，wherehedeclarethanurgentinstance:ThattheRiecksDoller，israised（twomarkesLubishmakingthesaidDoller:）totwentymarkesLubishinmanyplacesofGermany，wherebyabundanceofmoneyisdrawenuntotheMintesofthoseCountries，fromalltheMinesandPartsofChristendome:hereinheismuchmistaken；forwhenmoneysareinhaunced，theyneverarecarriedtotheMintesfortobeconvertedintootherCoyne。
　　Buttheyremainecurrant，betweenemanandman，runninglikeaPoste-horse，everymanfearingtoreceivealossebythefal。
　　NeithermakeththisanyruleformerchantsinplacesofTrade，otherwisethenthattheymaytakeknowledgeofthepublikevaluationthereof，toselltheirCommoditiesaccordingly，byratingthepriceofexchange，upontheirformerobservation；
　　whichbeingneglectedordoneinpart，causeththeundervaluationofourmonyesinexchange。AndthisistheimmediateCausebyhimfirstalleagedandtreatedof，whereintheCommoditiesarenomoreActive，thenTenderdonSteepleinKent，wastheCauseofthedecayofDoverhaven。
　　Tomakethistoappeare，letusnote，thatthisRieckxDollerbeingthemaineandmostusuallCoyneinGermany，Eastland，theUnitedandReconciledCountriesunderbothGovernments，andmanyotherplaces，wasvaluedat2marksLubish，everymarkebeing16shillingsLubish，or16Stivers；fortheyeare1575，thesaideDollerwasstillcoynedintheEmpirefor32Stivers。AndwassocurrantbyValuationintheLowCountries，wherbythesaidshillingLubishandtheStiverFlemishwerealone，butthewarsintheLowCountrieshathbinthecauseoftheinhauncingofthisDoller，whichwasbroughtto35Stivers，andtheyeare1586，to45StiversbyintermissiveTimesandValuationshowbeitatStoade，HamboroughandotherplacesinGermany，thesaidDollerdidremainestillat32Stiversortwomarkes。AndasthesaidDollerdidinhaunceinprice:sodidtheycoynenewStiversaccordingly，sometimeslighterinweight，andatothertimesimbasedbyAllayorCopper。Andyetinaccompt，theStiverdidanddothremainethegroundofalltheirmonyes。
　　ButthesaidDollerholdethhisStandardagreeabletothefirstDoller，whichiscalledtheBurgundianDollerwiththecrosseofSaintAndrewcoynedintheyeare1575whichisinfinenesstenneounces，andtwelvepennyweightoffinesilver，andfourandonehalfeoftheseDollers，weretheremadeequivalenttoour20
　　shillingsStarlin，asaPublickemeasureinexchangebetweeneus，andtheLowCountries，GermanyandotherplaceswherethisDollerwascurrant，whichmadetheParorpriceofexchangetobe24oftheirshillings，for20shillingsofours，accordingtowhichcomputation，exchangesweremade，alwaiesabovethatprice，bothhereandbeyondtheseas；andtheStiveroftheLoweCountrieswasnotinvalueanswerablethereunto，forbiengbuttwoounces17pencewithfine，their32StiversforthesaidDoller，（whichisfourepiecesandonehalfe144Stivers:）didnotcontainesomuchfinesilverinthem，asthesaidDollerproportionably。Buttherewantedabove3shillingsFlemishinthepoundof20
　　shillingsStarlin。
　　ThoseDollershavesincebeeneimitatedandmadebytheStatesoftheunitedLowProvincesintheirseverallMintes，asalsobytheArchdukeAlbertusinthereconciledProvinces。AndthepriceofthematHamborough，Stoade，andotherplaceswasinhauncedbutoneStiver；thatistosay，atthirtythreeStivers，wherethesaidDollers，wentintheLowCountriesbyvaluationfor45Stiversintheyeare，1586，atwhichtimetheParofexchangewasfoundtobeetwentyfoureshillingsninepenceforthoseparts，andfortheLowCountriesatthirtythreeshillings4pence；whichwassoagreedupontoourdisadvantage，foraccordingtothesaide41/2Dollers，atfortyfiveStivers，itmakeththirtythreeshillingsninepence；butourtwentyshillingsvaluedattenneStiversfortheshilling，wasthecausethatitwasputtothirtythreeshillingsfourpence。Myselfebeingthere，aCommissionerappointedbytheCouncellTable，withSirRichardMartinKnight，andMonsieurOrtell，MonsieurCoase，andMonsieurValcke，CommissionersfortheStatesoftheunitedProvinces。
　　ThisDollerissincethattimeinhauncedtofiftytwoStiversintheLoweProvinces，whichmakeththepriceofexchangeabovethirtyeightshillings，orratherthirtynineshillings:
　　andshallwesufferthis，andnotalterourpriceofexchangeaccordingly，butbecontentedtotakethirtyfoureshillingsorthirtyfiveshillings，andafterthatrateundersellalltheCommoditisofthekingdome，andsufferalso，（becauseofthisgaine）ourmonyestobeexported，theReallsof8tobeedebarredfromustobeebroughtinandcarriedtootherCountries，forbringingalossetotheimporter，whichbyinhauncingofthepriceofourexchange（andnotbyinhauncingofourmonyes:）canbeeeasilyprevented？asheereaftershallbedeclared。
　　ThisDollerislikewisesincethattime，moreinhauncedinGermanyfromtimetotime，andleavingtheexcessivealterationinRemoteplaces，letusnotetheValuationofHamborough，whereithathbeeneatfiftyfoureStinerstheDoller，whichmakeththeexchangeabovefortyshillingsoftheirmoneyforourtwentyshillings。Andalthoughwehaveraisedthepriceofexchangefromtwentyfoureshillingsninetothirtyfiveshillingsorthereabouts:shallweresthereandgonofurther？havewereasontodoeitinpart，andnotinthewhole，accordingtojustice，equality，andtruePolicy。Andshallwebeelikeaman，thatbyhaltinginjest，becamelameinearnest？Isayagaine，Absitignorantia。ThusmuchObiter。
　　ChapterII。
　　TheCausesoftheDecayofTradeintheMerchandizeofEngland。
　　TheMoneyesofChristendome，whichhavetheirebbingandflowing，doeshewtheiroperationuponcommodities，makingbyPlenty，thepricethereofdeare，orbyScarcitybettercheape。
　　AndontheContrary，byexchangewefindethatplentyofmoneymakethaLowexchange；andthepriceofmonyestofallinexchange:andthatScarcityofmoneymakethafhighexchange，andthepricetorise，overrulingboththepriceofmoneysandCommodities，whichbeeingobservedbythegreatexchangersorBankerers；causedthemtoinventallthemeanstocompassethefame，andtorulethecoursethereofattheirpleasure，havingthemaineseaofexchange，whereintheexchangeofEnglandrunnethlikeaRiverorBranche，andisoverruledbythegenerallCurrant；whichmaybeprevented:forwehavetheheadofexchangeof20shillingsStarlinfortheplaceswheremostofourCommoditiesaresold，whichwillcommandalltheparts&membersofthebodyofTraffique，andprocureplentyofmoney，wherebytheothercuasesofthewantofmonyesinEngland（asthewasteofthetreasureandthelike；）willnotbesosensibleasnowtheyare，especiallywhenneedfullCommoditiesofTrade，shalbeimportedfromsomeplaces，whichshallsupply（asintimespast）
　　theexportationofmuchmoney，whentheCommoditiesofRussia，beingTallow，Waxe，Hides，retransportedintoFranceandSpaine，didbyexchangefurnishtheRealmewithWines，Corints，RaisonsandthelikeCommodities。
　　TheWantofMoneythere，isthefirstcauseoftheDecayofTrade，forwithoutmoney，commoditiesareoutofrequest。AndwhentheyfallagaineintoPermutationorBarter，TraffiqueissubjecttothenecessityofMerchants，whichtendethtothedestructionofnecommonweale，andtotheinrichingofanother。
　　Andthisiseffectedbytheexchange，asthegraveandwiseCousellorsofStatebeforementioned，haveverywellobserved，whereofAristotleandSenecacouldtakenonoticeintheinfancyofTraffique，whichmakethmetoforbearetoalleadgetheiropinionsanddefinitions；howbeitCommerciumisquasiCommutatioMercium，whichthesaidAuthorwouldturneagainebyachangeofwaresforwares，andotmoneyforwares。NomarvellthereforethatheedothinvertthingsandrunnethintoaLabyrinthwithoutdistinction，betweenethethingActive，andthePassive，byapproovingMoneytobeetheruleandsquare，wherebythingsreceiveestimationandprice。AndyetcommendingtheCommutationbeforeMoneywasdevisedtobecoyned。
　　Aristotlesaith，ThatActionandPassionaremeerelyRelatives，andthattheydiffernomore，thenthewayfromThebestoAthens，andfromAthenstoThebes。WewillthereforeleavethisMerchanttowalkebetweenebothuntillheecandiscernetheonefromtheother。Andthenheshallfinde，thatastheLiver（Money）dothministerSpiritstotheheart（Commodities，）andthehearttotheBraine（Exchange:）sodoththeBrayneexchangeministertothewholeMicrocosmeorthewholeBodyofTraffique。
　　LettheheartthereforebytheliverreceivehisTincturedChilusbyhisownmouthandstomacke，andthebloodfullofSpirits，shallfillalltheVeines，andsupplythewantofmonyes。Theeasiecourseandrecourseofwhoseexchange，shallbringallthingsintime，andserveallmensturnes。ForevenastherearetwoCoursesobservedoftheSunne:theoneAnnual，andtheotherbydaylydeclination，risingandgoingunder:evensomuchweeobserveinexchangetwoCourses，theoneaccordingtoParproPari，orvalueforvalue:theotherrisingandfallingfromtimetotime，asweehavealreadydeclared。
　　ThesecondCauseofthedecayofTrade，saithhe，isUsury，meaningUsuryPoliticke，whereinheispreventedtospeake，becauseofaTreatisemadeagainstUsurybyanunknowneAuthour，andpresentedtothelastParliament，forwhomhetakethgreatcare，thatheebenotabusedasVirgillwasbyproclaimingtoolate，Hosegoversiculosfeci，tulitalterhonores。TrueitisthatthesaidAuthourdothnotattributeunothimselfthemakeingofverses:buttakeththewholesubstanceofhisdiscourseoutofothermensworkes，publishedabovetwentyyearessince。TurpeestDoctori，dumculparedarguitipsum。Cato。
　　UsuryinaCommon-wealthissoinherent，anddothproperlygrowwiththedecayofTrade，asPasturagedothincrease，withthedecreaseofTilling。Albeitinsomerespects，Tradeisincreasedbymonyesdeliveredatuseorinterestuponoccasions，whentheUsurerisgladtofindeatakerupofhismonyes，anddothprayhimtodoethesame，byreasonoftheabundanceofmoney；whichmakeththepriceofUsurytofall，morethenanyLaworProclamationcaneverdoe。SothattoabatetheRateofTenneuponthehundredtoeight（asthesaideTractagainstusurywouldhavehadtheParliamenttodo:）willbeeffectedorcourse，whichalwaieshaththegreatestcommand。
　　Thisdothalsomuchprevent，thattheRuleofConcordandEqualityisnotsosoonebrokenandoverthrowneinCommon-weales，somegrowingveryrich，andothersextreamepoore，notabletoliveintheirvocation:Themostpregnantcauseofdiscord，causingmanytimescivillwarres，asCorveliusTacitushathnoted，andappearethinanotherTreatisewheretheoperationsofUsuryaredescribed。
　　ThebitingUsury&intolerableextortioncommittedbycertainuncharitablemen，commonlycalledBrokersforpawnes，isnottobeetouchedinaword，forthisistheonlytheremarkablesin，（Imeaneextortion&oppression:）forwhichfeedethuponthesweat&bloodofthemeeremerchanicallpoore，taking40，50，60
　　&100uponthe100bytheyeare:besidesBillmoneyandforfeitureofthepawnes，whencharitablepersonshaveofferedabove20yearessince，togivelargely，andtolendmoneysGratis，asalsoafter10inthe100tosupplybywayofpawn-
　　houses（bysomecalledLombards:）theneedandoccasionsofthepoore&mechanickepeople；theneglectwherofsheweththatourheartsareoverfrozenwiththeIceofuncharitablenesse，whichotherwisecouldnothavesolongcontinued；foritprovokethGodsangeragainstusinthehighestdegree。IfthesemenhadbeeneJewes，ImighthavebestowedsomeHebrewuponthemindetestationofthewordNeshech，whichisnothingelsebutakindofbiting，asadogusethtobite&gnawuponabone；otherwisetousemanylanguagesinalitleTreatiseoffreetrademayseemimpertinent。
　　ThethirdcauseofthedecayofTradehesaith，is，thelitigiousLawsuits，whichasonewaytheyincreasebyscarcityofmoney，whichcompellethmentostandoutinLawforatime，whentheycannotpayuntilltheyreceive:Soanotherway，whenmoneysareplentifull，mencarethelessformoney，&pridecauseththemtospend，&togotolawforeverytriffle，disputingDelanaCaprina:trueitit，thatthisLawwarfareinterruptethtrade，buttomakethesametobeoneoftheefficientCausesofthedecayoftrade，Icannotaltogitheragreetherunto:butrathertotheRemedieswhichshalbehereafterdeclared；albeitmanymen，arevexed，imprisioned&overthrowne，havingspenttheirtime&meanesinLaw:whichmighthavebinemployedintradeforthegoodoftheComon-Wealth&theirownequietnesse。
　　Idolikewiseomittointreatoftransportationofordnance&munitionheretoforepermitted，mentionedbythesaidauthor，&
　　nowpreventedinsomesort；neitherwasEnglandintheyeere，1588insuchgreatdistressetobetermedinarticulotemporis，whenthemerchantsAdventurersdidprovidefromHambroughashipsladingwithPowderandshot，asparcelloftheirdutietoassisttheKingdome，byGodonlypreserved。
　　ThefourthCauseoftheDecayofTrade，ortospeakeproperly，neglectofTrade，is，TheadmittingofforraineNations，tofishinhisMajestiesStreamesanddominions，withoutpayinganythingforthesame，wherebytheirNavigationiswonderfullyincreased，theirMarinersmultiplied，andtheirCountrieinriched，withthecontinualllabourofthepeopleofallsorts，bothimpotentandlame，whicharesetonworke，andgettheirliving。
　　ConcerningthisfishingTrade:therehathbeeneacontinuallAgitatinabove30yeerestomakeBussesandFisher-boats，buttheActionisstillinterrupted，becauseotherNationsdoefindetoogreatfavourandfriendsheretodivertallthegoodintentionsandendevoursofsuchas（withtheAuthorofthisDiscourse）haveimployedtheirTimeandgoodmeanestherein；fortheMerchantsAdventurours，theCompanieofMerchantsTradinginRussia，andtheEast-landMerchants，didalsoopposethemselvesagainstitattheCouncellTable，anddidalleagethereasonsfollowing。
　　1。TheinfringingoftheirPriviledgeshereandbeyondtheSeas。
　　2。TheInterloopersadvantagetointerrupttheirTradeundercolourhereof。
　　3。ThewantofmeanestomakeReturne，bothforFishandClothalso。
　　4。TheinhauncingofthepriceofforreineCommodities。
　　5。ThepreoccupyingofmoneytothehinderanceofCloth。
　　6。ThedissolutionofthejoyntstockeoftheRussiaCompany。
　　7。TheincouragementofStrangershereupontomakeaContractwiththeRussianEmperour。
　　8。Thediscouragementtoundertakenewdiscoveries。
　　9。ThedefrayingoftheChargeofEmbassadoursandotherextraordanarieChargesforhonouroftheState。
　　10。TheplentyofFish，whichthoseCountrieshavefromtimetotime，andsomeotherReasons。
　　Sothatinconclusion，England（bytheirsaying）cannotmaintainetheSeaTradeandtheLandTradetogether；neitherdotheymakeaccounttomakeReturneinmoney，knowingthattheyshouldlosemorethereby，thenbytheexchangeofthoseCountries，orbyCommodities。AndalbeitthatallthepremissesmaybeemoderatedwithouthinderancetothesaidCompanies:
　　neverthelessesuchistheconditionofsomeMerchants，notunderstandingtheMysteriesofexchange，andover-rulingotheresbytheirorderofAntiuqitieintheirSociety:thatneitherReasonorexperiencecanprevaile；insomuch，thatwhereasotherPrincestaketheirDutiesofotherNationsforfishing，andfishthemselvesalsobytheirSubjects:yetEnglandcannotresolvetodoethelike，oratleasttakeorderforthesaidDuties。
　　InRussiamanyleaguesfromtheMaine，Fisher-mendoepaygreatTaxestotheEmperourofRussia，andinmostplaces，otherNationsareprohibitedtofish。
　　TheKingodDenmarkedoththelike，andtakethgreatTribute，bothatWard-houseandtheSound。
　　TheKingofSwedeninlikemanner，andthesaidKingofDenmarkenowfortheKingdomeofNorway。
　　AlltheBorderingPrincesofItalydoetakeTaxesuponfishwithintheMediterranianSeas。
　　ThelikeTaxeistakenbytheDukeofMedinaSidoniaforTunnyintheSpanishSeas。
　　TheStatesoftheUnitedProvincesdoetakeanimpositionuponfish，whichistakenwithintheStreames，andDominionsofotherPrinces。
　　TheHollandersdoeallowtheTenthfish，bothinRussia，Lappiaandotherplaces，orpayaCompositionforthesame；asalsomoreoveraTributeintheSoundforpassage，tofetchthesaidfish。Andofmineowneknowledge，Iamassured，theywouldwillinglyhavepaidthesameuntoEngland，oragoodcompositionforit，hadnotthegreedylucreofsomepersonshinderedthesame。
　　TheseexemplaryActionshavelongdeterminedthequestionofMareliberum，touchingtheCommunitieorfreedomeoftheSeas，whichisacknowledgedtobeso，forNavigation，withoutthatthesamedothanymannerofwayprejudicetheDistinctDominionsoftheSeasofallPrincesconcerningfishing；thatistosay，thefishingTrade。SothatitissuperfluoustoalleagetheopinionsofOratorsandPoetsaboutthefishingheretoforeintheMediterranianSeas，neitherdothitbelongtothisplacetocitetheDeterminationsofthelearnedCivilianswhicharementionedintheTreatiseDeDominioMaris。ForthematterhathbeenelearnedlyhandledattheCouncellBoord，beforetheGraveSenators，manyyeeressince，byourCiviliansandothers，which（toavoidprolixitie）Idoeomit。
　　NowfromtheFishingwearecometoClothingorDraperyoftheKingdome，andtheabusesthereof，asthefistcauseofthedacayofTrade:whereintousemanydistinctionsofthenewandoldDrapery（unlesseitweretoReducemattersinstatuquoprius:）shallbeneedlesse。AndalthoughthedressinganddyingofCloth，wasinsistedupontobedoneinEnglandintheyeere1616。ToestablishtheManufacturewithintheRealme，（atwhichtime64thousandClotheswereexported:）whichwasafterwardsrevoked:）IcannotomittoobservethePractiseswhichwereusedbyCombinationwithotherNationsabroad，anddomestickeintelligencesathome，wherebymanygoodActionsareoverthrowne，tothegenerallhurt，andwithlittleadvancementtotheparticular。