Free Trade.docx

Free Trade.docx

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FreeTrade

FreeTradeor,TheMeanesToMakeTradeFlorish.Wherein,TheCausesoftheDecayofTradeinthisKingdome,arediscovered:

AndtheRemediesalsotoremoovethesame,arerepresented.

Propertius,nauitadeventis,detaurisnarratarator:

Enumeratmilesvulnera,pastoroues.

London,PrintedbyJohnLegatt,forSimonWaterson,dwellinginPaulesChurch-yardattheSigneoftheCrowne.1622byEdwardMisseldonTothePrince.SirYourHighnesisnolesseHappytobeetheSonneofsogreataKing,thentobetheHeireapparentofsomanyKingdomes.Intheone,rareendowmentsofMajestyandMagnanimity,areYoursbygeneration:

Intheother,aRoyallMonarchybyinheritanceandsuccession.TheonedothfitYoufortheother,andYourRoyallFathersfootstepsforthemboth.InthosearePeerelesseprints:

YoucannotcastYourEie,buttheyarepresenttoYou,andrepresentedinYou.YouseeinHisReligion,Piety:

inHisSacredPerson,Tranquility:

inHisGovernment,Policy.Ineveryoneofthese,allthese:

andallinYou.Inthatlast,HisMajestyhathcarriedaquickEie,overtheCommerceofthisKingdome:

becauseithathrelationbothtotheRevenueoftheCrowne,andtheCommon-wealthofallHisKingdomes.ItissaidinExechielsVision,thatOnewheeleranwithintheother,whichhathandEmphasisinthattongue,{Hebrewphraseomitted}andsurelymattersofStateandofTrade,areinvolvedandwraptuptogether.Whichlatter,becauseitisatthistimeinagitation,andthereare,notwithoutcause,manyQuaere'sabouttheCausesofthegeneralldecaythereof;hathcausedmetoputmyselfeonthisEnquiry,tophilosophizeifIcould,intheseCausesandRemedies.NotthatIwouldseemewithPhormio,toreadeaLecturetoHannibal:

No,IhaveonlymusteredandmarshalledthesemenintotheirRancksandOrder;itisYourstoCommandthem.GreatPhilipofMacedon,sufferedameanmusitionsayuntohim,Absit,uthaectumemeliusscias.Butformypart,Idarenotinanything,putsuchanabsit,toaPrincesoabsolute.EverythingmoovesitselfetoitsCenter.TheselittlelucubrationspresentthemselvestoyourHighnes,asuntotheirproperOrb.ForastheylookeuptotheKing,orastheylookedownetotheKingdome;InboththeylookeonYou,withadoubleaspect.YouaretheJoyoftheKing,andHopeofalltheseKingdomes.TheOnlySonneYourare,oftheOnlyKing:

AnhappySeer,ofablessedSire:

APrincelyConsul,ofthePrivyCouncel:

Awatchman,Aworthy,ofDavidandofJacob.

TheseMeditationofmine,areverymeane:

anunfitobjectforaPrincessight:

unlesseasYouareaGodonEarth;inthisalsoYourrepresenttheGodofHeaven;toacceptinyourPrincelypardonandpatience,{Greekphraseomitted}.TheCauseisgreat,yourWisedom'sdeep,andmyLordtheKingisasanAngellofGod.

YourHis,HeisChrist,andChristisGods.

OhGod,bethoustilltheKingandChrist,ofthisChristourKing:

EvangelizeuntothisAngel:

doubletheSpiritofourEliah,onOurElisha:

thatHemayflourishlikeourPalmeTree,andgrowuplikeourCedarofAlbion.GivethyJudgementstotheKing,andthyJusticetotheKingsSonne:

AndletallthePeopleofferthesesweetOdourstoTheetheGodofHeaven,andprayforthelifeoftheKingandHisSonne.

Soprayeth,forHisMajestie,AndyourHighnesse,EdwardMisselden,MerchantFrommyHouseatHackneyonWhitsonEve,the8ofJuneIntheyeareofGrace,MDCXXII.AndoftheKingofPeace,XXIV.

Cap.I.

TheCausesofthewantofMoneyinEngland.

IthavingpleasedGodtogivemeemybirthandbeinginthisgoodLand,andunderthereigneofsogreataKing;whosepeaceandpiety,whoseprudenceandpolicy,whoserareendowmentsofNatureandliterature,absitomnisadulatio,doelendtotheChristioanandPaganworldsuchagloriouslustre,asthattheothergreatlightsintheSphearesthereofdoseemeeclipsed:

Icouldnotbutthinkeitmyboundenduty,inallhumbleacknowledgementtoAlmightGod,anddevoutedservicetosomightyaKing,toendevourtoexpressethesame,insomepubliqueserviceforthepubliquegood.

Theratherforthatthereseem'stobeanecessitieimposeduponallmen,asmuchastheycan,toperformethisduety;accordingtothatgnerallprecept,FeareGod,HonourtheKing:

AsifamancouldnotfeareGod,unlessehehonourtheKing:

norhonourtheKing,withoutthefeareofGod.

Andnomarvell,whenGodhimselfesetteththesedutiesinthefrontispiceortopofboththeTablesoftheDecalogue:

TheoneExplicitinthefirstTable,ThoushaltlovetheLordthyGod:

TheotherImplicitinthesecondTable,ThoushalthonourtheKing:

asifhewere{Greekphraseomitted},ALawandanotherLaw:

yeathewholeLawcomprisedinthesetwo:

andthesetwotermedthegreatCommandements,togiveadeepeimpressionandalivelyexpressionofsogreatadutie.

Yea,hedothhonourkingswiththisowntitle,asifheewouldpartwith,&imparttothem,someofhisownehonour.IhavesaideyeeareGods:

towhichthatofthePoetmayseeme{Greekwordomitted}tohaveanelegantallusion,DivisumimperiumcumIoueCaesarhabet.

AndthisisitIconfessethathathraisedandrowsedmineaffections,toseekeoutasubject,whereinImightsetmyselfatask,&asitisintheproverb,might{Greekphraseomitted},toperformesomeacceptableservice,tosogreataKing,&sogoodakingdome.

ButwhatneedIseekethatwhichseekethallmen?

ForwhatisatthistimemoreenquiredafterthentheCausesofthedecayofTrade?

Andwhatcanbemorefitformymeditation,thenthatwhereinIhavehadeducation?

AndwhathathmorerelationtomatterofState,thenCommerceofMerchants?

ForwhenTradeflourisheth,theKingsrevenueisaugmented,LandsandRentsimproved,Navigationisencreased,thepooreemployed.ButifTradedecay,allthesedeclinewithit.NeverthelessewhenIlookeuponthefaceofthegreatbodypolitiqueofthiswealepublique,andthereinconsiderthehighwisedomeofHissacredMajestie,astheintellectualpartofthisMicorcosme,oralterorbisasCeasarcallesit:

theprudenceandprovidenceofHisNobles,astheEyesthereof;thegreatdecayofTrade,theNervesthereof:

togetherwiththeparliamentationandconsultationofallthepartstogetherabouttheseCausesandRemedies:

IfeareIshallseeme{Greekphraseomitted},tolightaCandleintheSunne,tooffermyserviceinthat,aboutwhichthechoicestwitsoftheKingdomearenowinconsultation.

ButhavinghadexperienceofHisMajestiesgraciousinterpretationofsmallservicesofhissubjectsemployedforthepublique:

thoughothersmuchmoresufficientaresentbefore,yetcouldInotbutexpostulatewithmyselfe,whatifIalsorunneafter,andcastinmy{Greekphraseomitted},intothisgreatTreasury.

Thereforeifherein,anyobservationsofmine,eitherForreignordomestique,mayadministeranythingworthytheinformationofthatGreatcommonandyetnotcommonSense,Ishallesteememypartmosthappilyacted,tohaveemployedmyprivatepainesforthepubliquegood.Therather,forthat,astherearemanyCausesdiscussedanddiscoursedofatthistime,ofthedecayofTrade;soalsoaretheremanyremedies:

whereinifeithertheCausesbemistaken,ortheremediesillapplied;thepresentsicknesseoftheTrade,maybebroughtfromadiseaseinfieritoanhabituatedandinfacto,asthePhisitiansSchoolehathit.

Tofindthecauseofthings,isaworkeofPhilosophy,andmuchfelicitie:

tofindeoutafitremedy,isofhigheminency:

Buttoapplytheremedy,isamatterofStateandPolicy.AndthisleadethmeetotheMethodofmydiscourse:

whichpartsitselfeintwaine:

viz.IntoadoubleQuaere,oftheDeformationandReformationofTrade.Intheformermaybeconsidered,theCausesandEffectsthereof.IntheCauses,thematterofformeofTrade.ThemasterofTrade,iseitherNaturallorArtificial.TheNaturalmatterofCommerceisMerchandize:

whichMerchantsfromtheendofTradehavestiledCommodities.TheArtificialmatterofCommerceisMoney,whichhathobtainedthetitlesinewsofwarreandofState.

OldJacobblessinghisGrandchildren,crosthishands;andlaidehisrighthandontheyonger,andhislefthandontheelder:

AndMoney,thoughitbeinnatureandtimeafterMerchandize,yetforasmuchasitisnowinusebecomethechiefe,IwilltakeleaveofMethod,tohandleitinthefirstplace.

FirstthereforeforthewantofMoneyinthisKingdome,manyreasonsmaybeeassign'd.WhereofsomeareImmediate,somemediateorremote.TheImmediatereasonsofthewantofmoney,areeithersuchashindertheImportation;ofsuchascausetheexportationthereof.Andboththerseareoccasionedbytheunder-valueationofhisMajestiesCaoine,tothatofourNeighbourCountries.ForwhowilprocurelicenceinSpainetobringReallesintoEngland,tosellthemhereatteninthehundredgaine,whichislessethentheExchangefromthencewillyeeld;whenheemayhaveforthesamefiveandtwentyinthehundredinHolland?

HerefiveRealsofeight,whichmaketwentyshillingssterling,willcommonlyyeeldtwoandtwentyshillingsorthereabouts:

andthesameinHollandwillyeeldfortytwoshillings&sixepenceFlemish,whichisfiveandtwentyshillingssterling.AndhowcanwechoosebutwantmoneyinEngland,whentheJacobuspieces,areCurrantatsohigharateinHolland?

Fortheretheygoeattwelveguilderseightstiversthepiece,whichisoneandfortieshillingsandfourpenceFlemish,whichisfourandtwentieshillings&ninepencesterling.AndafterthisrateHisMajestiesotherCoinesofgold&silverarethereofrespectivevalue.ForalthoughbythePlaccaetsorProclamationsofthoseparts,theJacobuspieces,andotherspeciesofgoldandsilver,aretheresetatindifferentratesanswerableto