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 UNIVERSITY 
 
 LIBRARY 
 
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A N 
 
 ESSAY- 
 
 ON THE 
 
 Com ™a Cjetrit 
 
 ■ . 
 
 *i OF 
 
 EN 
 
 As they (land with Rcfpeft to its 
 
 TRADE 
 
 By.&obn Cary, Merchant in Brijlol 
 
 <B (^1 S T Li 
 
 Printed by WiU. Bonny, and Sold by 
 the (Book fellers of London and 
 Brijlol , Otlober the 2 id. 1696. 
 
: v ' ; ;-- ! - 
 

 To the %ight Honourable, 
 tbeLOt^ T> £ Spiritual 
 and Temporal , and to 
 the Honourable the Com- 
 mons 0/ ENGLAND, 
 in Parliament AlTem- 
 bled. 
 
 May fc pleafe Your Honours, 
 
 1 Humbly prefent You loith this 
 littlt Tratf, the Tteftgn whereof 
 is to Jet forth how Ufeful and 
 [Advantageous a Well Setled Credit 
 Urould he to the Nation, which, no- 
 thing hut a Sence of the Calami- 
 ty Tte labour under for want of it 
 
 i hath 
 
The Dedication. 
 
 hath made nie Undertake ; 'lis a 
 Subjttt I Confefs deferVes a better 
 Pen, but feeing it bath lain fo long 
 Neglected, 1 have adventured to of* 
 fer my Vhte towards it; If Your 
 Honours agree it to be Neceffary, 
 I doubt not but it may be rendred 
 fPra&ieable ; The Jetting the Coyn 
 of this Kingdom (fo happily ef* 
 feSlsd in~jour Ufl Seffionsj hath 
 given fref) Occafions to our Money 
 Mongers to imply their Qorrupt 
 Wits in findinz out new Ways * to 
 elude your good Intentions , who fince 
 they cannot get Thirty per Cent by 
 l Cfypik 
 
The Dedication. 
 ping our Old Money, have ended* 
 loured to get Twenty per Cent by 
 Hoarding up our ISJjw, Things equal- 
 ly prejudicial in themfelnjes } And Jo 
 far have they already advanced in 
 theft their kicked TrojeBs , as to 
 mahe near fo much Difference be- 
 tween our Money and our Trade . 
 Winch Evil, if not fpeedily prevented, 
 Jbill daily hcreafe , and like a Le- 
 profie overspread this Nation, fo 
 that thi Very Sence of its being a 
 Qrime Mil Ttear off, and Time "frill 
 make it familiar to thofe, who now 
 feem to Jlartle at it - Dulcis Odor 
 
 Lucri. 
 
The Dedication; 
 Llicri ex re Qualibet. lS[pr can a 
 Stop be put thereto fo well y as by Efta- 
 Mijhing a Credit, large enough to an- 
 jwer all the Occajlons of the N a tion,£of /; 
 fuhlick and Private, without winch, 
 1 humbly Conceive, other Means will 
 prove InejfeBual ; I pray God, Htho 
 is the Fountain of Wifdoro, to Or 
 reft your Councels to his Glory, and 
 the Welfare of this Kingdom. 
 
 Your Honours 
 
 Moft Obedient Servant, 
 
 John Carj 
 
 3 
 
* 
 
 — i 
 
 t—r— 
 
 AN 
 
 E S !&i| Y 
 
 O N 
 
 Copn *»<* Cjefcit 
 
 AS the Wealth and Greatnefs of 
 the Kingdom of England is fup- 
 ported by its Trade , fo its 
 Trade is carry'd on by its Cre- 
 dit-, this being as necdlary to a Trading 
 Nation, as Spirits are to the Circulation 
 of the Blood in the Body natural- vihen 
 thofe Springs (as I may fo call them) 
 Decay, and grow Weak, the Body Jan- 
 guifties, the Blood Stagnates, and Symp- 
 toms of Death foon appear: Nor can a 
 good Credit be more ufeful to any Na- 
 tion then it is to this, where ouj? Trade 
 hath at all times very much exceeded our 
 Ca(h . I mean the Species of Mony 
 hath not io any Meafure anfwcr'd the 
 A trans- 
 
An ESSAY 
 
 transferring of Properties y and though 
 herein no Mag can be ac a Certainty 
 as to the quantum , yet fuch probable 
 Conje&ures may be made, as to give a 
 reafonable Satisfaction that the Difpro- 
 portion is very great. If we would make 
 a Judgment of the Trade of England, it 
 cannot better be done, then by confider- 
 irig what the annual Profits of that 
 Trade may be fuppofed to amount unto, 
 and this cannot better be computed, then 
 by making a probable Conje&ure of the 
 Charge of its Expences, and this by 
 fuch Steps, as may tend to make as na- 
 ked a difcovery thereof, as the nature of 
 the thing will bear. Suppofe then the 
 Number of People in England to be 
 Eight Millions, t which is the loweft 
 Computation I have ever met with) and 
 that each Pcrfon fpends Eight Pounds 
 Per Annum for his Supportjin Provisions, 
 Clothes, and other Charges of living, 
 what any one pays fhoxt of this himfelf, 
 is paid by another •, he that is fed at ano- 
 ther Man's TaWc , or wears another 
 Man's Cloatfcs, mull remember that 
 thofe neccflaries are paid for, if not by 
 liimfelf, yet by his Benefaftor. add to 
 this the Charge of fupportiog the Go- 
 vernmentj efpccially in this time of War, 
 
on Coyn and Credit. 
 
 and the amount will not be lefs then Se- 
 venty Million* per Annum, though every 
 Man lived but from Hand to Mouth • add 
 to this Thirty Millions per Annum for 
 the Profits of Trade , which is buc 
 Twenty Pounds to each Family, (up* 
 pofing Six Perfons tp a Family $ this 
 amounts to One Hundred Millions, Here 
 it muft be noted, that I comprehend 
 ail transferring of Properties under this 
 general Notion of Trade ; the Land- 
 lord , the Tenant^ the Manufacturer , the 
 Shop-keeper , the Merchant, the Lawyer , 
 all are Traders , fo far as they live 
 by getting from each other, and their 
 Profits arife from the Waxing or Wa- 
 ning of our Trade. We are next to 
 confider how the Profits of our Trade 
 ftand in Competition with Trade it fclf; 
 and I believe it will be allowed, that one 
 with another , they do not amount to a- 
 bove Ten per Cent. By this Scheme, 
 the Trade of England muft be at leaft a 
 Thoufand Millions per Annum ^ The 
 Money of England hath generally been 
 fuppofed to be about Seven, fame have 
 thought Ten, which, at the higheft Ac- 
 count, ftands in Competition no more 
 then Ten doth to a Thoufand*, this 
 hath made Credit always fo necefTary in 
 
An ESSAY 
 
 our Trade , that without ic the other 
 muft have ftoed ft ill. 
 
 But the ufefulnefs thereof hath never 
 {o much appeared, as now it doth. Here 
 it will not be ajaifo to confider the Ori- 
 ginal defign of Mony, how it came 
 at firft to be intrcduced into Trade, and 
 the Rcafon there was for mending our 
 Silver Momj^ and falling of Gniveys. Our 
 Fore-fathers, whilft they kept themfelves 
 only to the ufe of things neceflary for 
 the Support of Life, were content with 
 what they could either provide for them- 
 (elves, ©r purchafe from their Neigh- 
 bours with fuch things wherewith they 
 abounded, and the o-hers wanted- but 
 as Pride and Luxury grew into the World, 
 io Mens deiircs became more boundlefs, 
 and their Fancies prompted them to feek 
 after things from .a greater diftance, ei- 
 rher to pleafe their Palates, or to fet forth 
 their Grandure- This brought in the 
 Trade of Buying and Selling , whence 
 arofe a fort of People maintained by 
 Traffic^ who foon put an end to the 
 Trade of JSarccr. And indeed it muft 
 needs be fo, fince 'twas impoffible for 
 them to fie every Man's oecaiions, in 
 fuch proportions as he required, and at 
 the fame time to receive their Payments 
 in the Commodities wherewith lie did 
 
 anonnd. 
 
on Coyn and Credit. 
 
 abound, becaufe thcfe would not anfwe* 
 their cads in carrying on cheir Trafiick* 
 therefore fomething inuft be made the 
 Standard of Trade, which might be of 
 equal value in all Places, and a meafure 
 to the worth of other Commodities, the 
 Excellency whereof was not ro arife fo 
 much from any intriafick value in its ielf, 
 as from the ufefulnefs of it to anfwer 
 that end. Silver was at laft agreed on 
 by a common con r ent, whofe worth a- 
 rofe from its f inenefs and Weight % n6t 
 that this was efteemed the richeft of all 
 Mettles, Gold (landing in a very great 
 Dilproportion with it, even as to its 
 Weight , bat that being more fcarfe, 
 could not fupply all the oecafions of 
 Trade, nor indeed ceuld it be divided in- 
 to fo fmall parts as Silver might 5 On 
 the other Side, Lead, Iron, Tin, Cop- 
 per, &c ( being more common , wo aid 
 Rave been too bulky to be made the Stan- 
 dards of Trade § nor could Diamonds, or 
 other precious Stones anfwer the end , 
 for befides the abufe which might be put 
 on the World by their Counterfeits, 
 tbeir value arifes only from Fancy, and 
 from fuch Rules that a common Eye can- 
 not eafily diftinguidi •, Silver being thus 
 fettled, became by its Weight and Pine- 
 aefs a Standard to the value both of 
 A 3 chefc 
 
thefeand all other Commodities, which 
 were purchafed by a quantity fet one, 
 ami meafur'd by the Scale*, and this 
 continued in the former Ages of the 
 World, till the vaft increafe of Com- 
 merce and Traffick made the, fevcral 
 Princes, who found their Advantages by 
 Trade, endeavour to render it more eafie 
 to their Subjeds* This was done by 
 forming Silver into lefler parts, and by 
 their Stamp giving a Warrantie both to 
 the Finencfs and weight of each Piece, 
 which they guarded with Laws, equally 
 Sanguinary with thofe whicf] fecured 
 their Crowns. The firft was called the 
 Standard, which is a mixture of fome 
 Allay with the fineft Silver • and though 
 it might be wifhed, that all Trading Na- 
 tions had agreed upon the fame, yet 
 fince they have not, the Coyn of each 
 Nation (lands in Competition, according 
 to the true Weight and Finenefs of the 
 Silver in their Money, without any re- 
 fped: to the Denomination . which, were 
 ift not for other Accidents that attend it, 
 would be the Par and Meafure of all Ex- 
 changes. 
 
 The Standard, or Sterling Silver of 
 this Kingdom, is Eleven Ounces Two 
 Penny Weight Trey cf the Fineft Sil- 
 ver, 
 
uji v^uyn ana ^reaic. 
 
 ver, mm with Eighteen Penny weight 
 of Fine Copper, and according to this 
 Proportion fhould all our Coyn and 
 Standard Plate be mixc, which Compo- 
 fition makes it more fit, both for the 
 Stamp, and alfo for Utenfils, being elfe 
 too foft to be wrought up of us felf, and 
 if more allayed, would become too Brit- 
 tle, and wear like Brafs, as our Work- 
 men generally agree. 
 
 But whatever might be the caufcthat 
 perfwaded our Kings to fettle this Allay, 
 it hath continued to be the Standard of 
 England • ever fince the Reign of King 
 Richard the Firft, being firft contrived, 
 and brought hither by the Eajierlings^ a 
 Trading People living in the Eaft- 
 ern Parts of Germany , who dealt 
 with us for our Produft. Many good 
 Laws have been fince made to keep it 
 from being vitiated, which were they 
 as well put in Execution, the deceits 
 ufed by the Workers of that Commodi- 
 ty,to the increaf(? of their Private Ettates, 
 by abufing the ignorant Buyers, might 
 foon be put to an end. 
 
 NeKt, to the finefs , the weight of 
 
 our Money was to be fecured, and that 
 
 to be done in iuch Parts, that one Piece 
 
 {hould anfwer another. Thus the Engtifh 
 
 A 4 Crown, 
 
yiii u, u o ji i 
 
 Crown, as it comes out of the Mintj 
 weighs Nineteen Penny weight and 
 Eight Grams-, the Half Crown, is juft 
 one half of that Weight •, the Shilling 
 one Fifth-, and the Six Pence one 
 Tenth ; fo that thefe pieces receive their 
 values from their Weights,not from their 
 Names, though forne unthinking People 
 have fuppofed otberwife • which Error 
 hath been rhc ground of many Difpute.?, 
 and given Opportuniiys to cunning Knaves 
 of abufing our Coyn, both by adultera- 
 ting the Standard, and leffcning its 
 Weight % and others finding Advantage 
 by this Confufion, have deviled Argu- 
 ments to maintain their falfc Propofiti- 
 ons-, fuch as thefe- that it hath made 
 Trade to circulate ; That it pad currant- 
 ly from Mao to Man • That it hinder'd 
 our Money from being carry 'd abroad; 
 and fuch like-, never confidering that the 
 Kingdom of England may Trade till it 
 becomes Bankrupt • that it is not Buying 
 and Selling amongft our Selves which 
 makes this Nation Rich, or able tofup- 
 port its Self, but the Trade we drive 
 with Forreign Nations, particular Men 
 may ger, whilft the Nation in general 
 loolls by the Trade it drives. 
 
 It 
 
It is a certain and undeniable Maxim* 
 that what is the true Intcreft of England* 
 is the Intereft of every particular Englijh 
 .Man ^ for though private Men may feeiti 
 to get by the ruine of the Publick, this 
 lads but for an Age, and their Poftcritys 
 will have caufe to lament the ill Confe- 
 quences a Trade fo driven will pro- 
 duce- 
 No doubt the badnefs of our Money 
 I was the caufc of a great Circulation in 
 our Home Trade, but this arofe from o- 
 thcr Rcafons then are commonly confi- 
 dcred, and the Confequence being the 
 advance of Guinneys, caufed our Produft 
 and Manufactures to be fold to Foreign- 
 ers at undervalues, who would have been 
 enabled thereby in a fhort time to have 
 carryed on the Trade of Europe on bet- 
 ter Terms then we could. 
 
 Which things being duly confidered 
 by our Legiflative Power, 'twas thought 
 fit the laft Seflions to call in all the de- 
 bafed Money then Currant, and to re- 
 duce our Coyn by Degrees to the old 
 Standard and Weight $ this gave frefli 
 occafions for Clamours, and the People 
 were again furniuYd by the Money -Job- 
 bers, with new Arguments againft the 
 Government. Trade 'tis true, was hereby 
 
 put 
 
M ii^^Al 
 
 put to a flop, and this could not be helpt, 
 nothing elfe could be expefted when ever 
 our Money (hould have come to be men- 
 ded* the mod clamorous thought it ne- 
 ceflary to be done, only defired that it 
 might be deferred fome time longer, or 
 at lcaft (to cxprefsit in their own Terms) 
 that the Money might be raifed, and that 
 the Crown might pafs for Six Shillings-, 
 this they did ibppofe would caufe more 
 Silver to be brought into England^ and 
 lefsto be carry'd out, becaufe it would 
 be worth more in England^ then in any 
 other part of Chrtflendom h they argued 
 in all Companies, that the Trade of 
 England was apparently flickened fince 
 the Small Money was made unpayable, 
 and Guincys redue'd from Thirty Shil- 
 lings to Two and Twenty $ whereas they 
 did not confider, thar this was Non caufa 
 Fro caufa, 'twas the Fear and conftant 
 Expe&ation of the calling in and men- 
 ding oar ^Silver Money, and as a Con- 
 feqaence thereof the falling of Cuineys, 
 which made every Man willing to fhifc j 
 off the lofs, and to difcharge himfelf of, 
 his Money, as faft as he receiv'dit, by I 
 turning it into fome Commodities which 
 he might part with at iefs lofs to himfelf, 
 then he (uppofed the Money would be 
 
if he kept it by him> (o that had the 
 Parliament gratified thefe Mens defires, 
 it would not have had the Confequencc 
 they cxpc&ed, becaufe the Standard be- 
 ing once fixt, that uncertainty had cea- 
 fed * I (peak thus, becaufe I am obliged 
 to Anfwcr fach Arguments in the Lan- 
 guage of the Propofer, For my own 
 Part, ( am of Opinion, find I believe 
 moft unbyaffed Men will agree with me, 
 that Silver cannot be raifed or fallen in 
 the Senfe thefe Men would have it ^ the 
 true value of Silver confifting in its 
 Weight and Finenefs , cannot properly 
 be faid to rife or fall, or to be worth 
 more in one place then in another* if 
 Silver rifes, it muft be either with re- 
 |fpeft to its Self, or to fomething elfe- 
 the former is abfurd, an Ounce of fine 
 Silver cannot be worth more then an 
 Ounce of the fame Finenefs in any 
 part of the World, nor will the Stamp 
 make an Alteration , cfpecially in Eng- 
 land ^ where Silver in Bullion and in 
 Coyn muft be alike , the Coynage here 
 cofting nothings and as to the latter, its 
 Rife and Fall with refpeft toother things, 
 this can never be limited by Law, be- 
 caufe the Buyer muft pay for the Com- 
 modities' he. wants,* fuitable to his Ne- 
 
 iSeiuty, 
 
I % An E $ b AT 
 
 ceflfity , and their Scarcity • thus one 
 D3y a thing is worth an Ounce of Silver, 
 which at another time is not worth half 
 fo much* 
 
 Befides, I would ask thefe People, 
 whether they think that a Crown or 
 Five Shilling piece as now Coyned, can 
 be worth! any where, either a: Home or 
 Abroad, Six fingle Shillings of the fame 
 Coyn, or to fpeak plainer, Six pieces 
 of Silver , each one Fifth part of an 
 Ounce of the fame Standard and Finencfs? 
 if they think it can be fo at home, they 
 may foon ruine themfelves by the Experi- 
 ment-, and if it cannot here 5 why (hould it 
 be fo Abroad f Does any Man fuppofe 
 that the Dutch or other Forreign Nati- 
 ons will make fuch a Change . ? if they 
 will, 'tis our Intereft to fend our Coyn 
 to thena , and this will be the way to 
 augment, aad not to lefien the quantity 
 of our Silver, 
 
 But all this is a jeftj for no Nation ef- 
 teems Silver but for its Weight and 
 Finenefs-, and though the Money of fome 
 Countreys may not agree with ours of 
 the fame Denomination iis either , yet 
 the Exchange fets that right. Thus the 
 French Crown (called there Six Shillings, 
 or three Livres) hath not ufually been 
 
 worth 
 
on Coya and Credit, 13 
 
 worth in Exchange above Fifty Six of our 
 Pence 5 now fhould any Man be fo im- 
 prudent to bring it thence, and exped to 
 pafs ir here for Six Shillings, becaufe 'tis 
 called fo there, he would foon fee, thac 
 neither our Goldfmiths nor Traders would 
 take notice of the Denomination t, on the 
 other fide, ihould any one carry the E*g~ 
 lifh Crown to Fravce, becaufe 'tis there 
 worth above Three of their Livres, vulgar- 
 ly Six Shillings, he would find no more 
 Advantage, either in Buying of Goods, or 
 remitting it home again, then he might 
 have made by Exchange When our 
 Coya was Corrupt and Bafe, all Ex- 
 change rofc upon us, but now it is re- 
 turned to its ancient Stand ird, Exchange 
 returns to its old Courfe $ not that the 
 Standard of our Money is always the ex- 
 adi Rule of our Exchange , the Ballancc 
 of our Trade often caufes it to alter, ei- 
 ther to our Advantage, or to our Lofe, 
 befidesthe Charge of Management-, But 
 this is little in Comparifon with the o- 
 ther . a familiar inftance we have in the 
 Cafe of IreUrd) where, whilft our Coyn 
 was Bafe, Seventy Pounds was worth 
 one Hundred Pounds here, which was in 
 fome meafure proportionable with the 
 value gf Pieces of Eight, (which they 
 
 took 
 
14 An ESS A Y 
 
 took in Ireland by weight) to our^ ClipC 
 Money, aad alfo to our Guinneys ac 
 Thirty Shillings per piece-, and how far 
 this carried the Trade of England into 
 that Kingdom, the Traders to tkcrVeJl-L-.- 
 dies have been too lenfible 5 but fince 
 the Error of our Coyn hath been Cor- 
 re<3ed, that very Exchange is fo much 
 varied, that One Hundred Pounds here 
 is worth One Hundred and Fifteen Pounds 
 there. 
 
 And fince I have mentioned Guinneys, 
 I cannot let rhem pafs without fome Ob- 
 fcfvations • how eager was the conteft 
 for keeping them up to that exorbitant 
 value ? and how unwillingly did the Mo- 
 ney Changers, and thofe whom they had 
 deceived, yield to the Alteration ? where- 
 as it was well known that the reafon 
 why Guineys werefo high was the bad- 
 nefs or our Coyn •, Gold doth not receive 
 a value from the Stamp, but whether in 
 the Mafs , or in the Coyn, its Weight 
 and Finenefs are to be regarded • the 
 Standard of both in England is the fame, 
 being Twenty Two Cara&s of fineft 
 Gold* One Cara& fineft Silver, and one 
 Cara& fineft Copper-, the Guinuca is 
 Five Penny Weight and Eight Grains, 
 which ac the price of Four Pounds per 
 
 Ounce 
 
$n Coyn and Credit". t ^ 
 
 Ounce (when Money was at its full Stan- 
 dard and Weight ) came to One and 
 Twenty Shillings and Four Pence, but 
 when our Coyn was fo Corrupted, that 
 Thirty Shillings contained no more Sil- 
 ver then Twenty One Shillings and 
 Four Pence formerly did, 'twas neceflary 
 Guineys fhould rife, to put them on an 
 equal Bails with Silver 5 on the other 
 fide, when the Currant Coyn of the 
 Kingdom came to be re&ifyed, and Ooe 
 and Twenty Shillings and Four Pence 
 contained the fame quantity of Silver it 
 formerly did, Guinneys muft as neceffa- 
 rily fall, becaufe their valne did not a^ 
 rife from their Denomination, but from 
 a proportionable (landing of their Weight 
 in Competition with the Weight of Sil- 
 ver-, and by the way, it is to be obferved, 
 That Guinneys at Twenty two Shillings 
 (as now allowed .tp pafs by Ad: of Par- 
 liament; are wortK Eight Pence per piece, 
 or Three per Ctnt^ more then Standard 
 Gold in the Mafs will yield at Four 
 Pounds per Ounce. 
 
 Here I wou!d ask this Quezon, fup- 
 pofe a Gniney were adulterated, and 
 mixt with one Sixth part Copper, or be- 
 ing of perfect Standard, were diminifhed 
 one fixth part in its Weighty whether 
 
 tuck 
 
t 6 An ESSAY 
 
 fuch a Guinney would ever have yielded 
 fo much Silver as another of its full weight 
 and Finenefs? if not, why then fhould a 
 good Guinney he fold for lefs then its 
 value in Silver, for the fake of the Stamp 
 on oar debated Money } or now our Sil- 
 ver Money is rcdifyed, why fhould k 
 not ftand in the fame Competition with 
 Gold , as formerly it did < if it be an- 
 fwered 3 that Gold is dearer in Forreign 
 Parts then it is here • I defire to know 
 whether Gold ftands in a greater Compe- 
 tition therewith Silver as to its weight 
 and Finenefs f I believe upon a ftri<ft 
 Enquiry 'twill be found quite contra- 
 ry- 
 
 I know it is ob ; e<5ted, that Guineys 
 
 pafs for Twenty Six Shillings in Ireland, 
 and that this advance on them there (.be- 
 ing about Eighteen per Cent) will caufe • 
 our Guineys to be carryed thither • let 
 thofe Gentlemen confidpr, that Exchange 
 between London and Ireland 'is at Fifteen 
 -per Cent in our Favour, befides Infurance 
 by Sea, and rifque of Carriage by Land, 
 which cannot be reckoned lefs then Six 
 fer Cent more, and they will then find 
 on making up the Accompt, that they 
 were better leave their Guineys in 
 London, and take Bills for their Money 
 payable in Inland. One 
 
on Coyn an i Credir. \y 
 
 One thing more I would obferve to 
 thcfe Gentclmen in their own Dialect, 
 chat as our Coyn grew bad, fo S:andard 
 Silver role in itsPrice,thofe who had it de- 
 manding Six Shillings and Six Pence to 
 Seven Shillings per Ounce of the then cur- 
 rant Co\n of the Kingdom, the Reafon 
 of which is Plain from what hath been 
 laid before. 
 
 But to return to the Arguments brought 
 againft fettling the Standard of our Money 
 as now 'tis happily done •, if Silver fay 
 they had been advanced to Six Shillings 
 per Ounce > this would have made it more 
 plenty amongft us 3 becaufe that would 
 have caufed more to have been brought 
 in, and lefs to have been carryed out. 
 
 Here I mud beg leave to diffent from 
 their Opinion,andon the contrary to offer 
 it as mine, that if our Money had been 
 advanced , lefs Silver had been brought 
 into England^ and more according to that 
 Proportion carryed out. 
 
 As to the firft, we muft confider that 
 Silver is not a Commodity of the growth 
 of this Land , nor of the Plantations be- 
 longing to it, but of a Neighbouring 
 Na ionftom whom we purchafe it for our 
 Producl and Manufacturers^ and according 
 to the price we make of them Abroad , 
 B fo 
 
1 8 An ESS A Y 
 
 Co much more Silver do we bring home 
 for them $ now feeing Silver could not be 
 advanced to Six Shillings per Ounce ocher- 
 vfife then by {landing fo in Compe- 
 tition with all Commodities borh in Buy- 
 ing a :d Selling , the Gpnfequehce of 
 filch an Advance had been this, that our 
 
 ufdctures would have been fold for 
 fo much left Silver in Forretea Markers, 
 as the Price of Silver was advanced ac 
 Home-, • thus the piece of Bays^ which 
 formerly yielded Twenty Ounces or" Silver 5 
 bei g Five Pounds vvhilft Sffpftr ftood at 
 : Shillings per Ounce ^ would then have 
 been Sold for Sixteen Ounces and two 
 Thirds* which, at Six Shillings pc r cbrar, 
 is the fame Sum ^ and the Exporter 
 wou d have gained as much by his Trade, 
 becaufe that quantity 61 ■• would 
 
 have flood in the fame Competition 
 with any Comm he was to purchafe 
 
 here for a New Advtnture, as Twenty Oun* 
 
 formerly did .; but on the other fide. 
 not one Ounce lefs would have been car- 
 ried Abroad then now there is, which 
 rnuft have been lb much the greater Grie- 
 vance to the Nation , as our Iftiporrs 
 thereof had been lefTened t here we are 
 to -Confider, .whar it is that canfei the 
 sorting of our Silver, and upon a due 
 
 Con- 
 
on Coyn and Credit, 19 
 
 Coafide'ration we (hail find, that as no- 
 thing but the Ballancc of our. Trade 
 brings it in, fo nothing but the. Ballan.ce 
 of out Trade with, particular places car- 
 ries it out, neither, of them proceeding 
 from the choice of the Merchant who dc- 
 fires rather to trade in any other iv'er- 
 chandize, Silver neither anivVCring. 
 Freights nor Iafuraoces h and therefore 
 it is that our Ahnkuhts bring home .from 
 S pain, all the Wines, Fruity Wtel.l? Iron, 
 Cochineal, they can gcc v and whatever 
 clfe is fit to Load their Ships , before 
 they meddle wirfe Money —but the B.al- 
 lance of our Trade with Spain being io 
 much in our Favour, that all the Pro-- 
 du£t there, f cannot make it good, we 
 are. ohlig'd to, bring home the reft in 
 Bullion . on the other Side , there arc 
 iome places that nectf-ffarily require Sil- 
 ver to be exported?, buc la no Man 
 think that the Denomination of Money 
 will give it the greater, value in thufe 
 Coimtrcys, the Silver we . ferd thither 
 being valuable only by its Weight and 
 Fincnefs- As for our Trade with Hol- 
 land, That ©fcea varies in its Ballance, 
 fomc Years ic may be for us, and other 
 Years againft us, as Accidents happen, 
 though* i am of Opinion it hath genc- 
 B 2 rally 
 
lO An & o O /l I 
 
 rally been in our Favour 5 This is cer- 
 tain, that if we run in Debt more then 
 wc can pay by our Product and Manu- 
 factures, the reft muft be paid in Silver* 
 and the Receiver will take it at his 
 own Price, whatever value wc may put 
 on it here * 'tis true, Exchange is a Me- 
 dium where the Ballance is variable, 
 and that likewifc muft rife upon us ac- 
 cording to the Advance wc make on our 
 Money $ but where the Ballance is fct a- 
 gainft us , there Exchange cannot keep 
 our Silver at home , becaufe That alfo 
 muft be provided for by Shipping it our. 
 And as the Ballance of Trade be- 
 tween us and Spain is in our Favour, and 
 thereby furniflies us with Silver, fo I am 
 of Opinion , that the Ballance of the 
 General Trade we drive in Europe is like- 
 wife in our Favour, otherwifc 'twould be 
 impofliblc to keep that Silver at home 
 which we bring from Spain, fincc we 
 receive from abroad fo great a fupply 
 of the Commodities we ufe, which 
 would neccffarily draw it away , were 
 they not the purchafc of our Produft 
 and Manufa&ures . therefore it appears 
 tome, that feeing our Silver increafes, 
 the Ballance of our General Trade in- 
 creafes likewifc in our favour j whoever 
 
 will 
 
on Coyn and Credit, 2 1 
 
 will but confider the great Confumption 
 of Plate in England^ by its being wrought 
 up into Utcnfils for private Families, 
 and the great quantities wherewith the 
 Houfcs of our Nobility and Gentry do 
 abound , even in thofe common Mafly 
 things, which our Fore-fathers made of 
 Iron, 77/1, Brafsy and Wood, may rather 
 wonder, how our Trade fupplics fo much 
 Silver^ then that it brings home no 
 more * hence comes our want of it for 
 the Mint 5 and till the People of Eng- 
 land grow fo wife, as to fet the fame de- 
 light on feeing an Hundred Ounces of Sil- 
 ver in their Houfes in the Coyn of the 
 Nation, as they now do in Plate 
 wrought up, we (hall be ever complain- 
 ing for want of Money s though were this 
 done, and all the Plate of England Coyn- 
 ed up, I am dill of Opinion, that there 
 would not be fufficient to carry on our 
 Trade without a Credit. 
 
 'Tis our Manufa&ures and Product which 
 furntfh this Kingdom with Silver, and 
 the more they yield Abroad, the greater 
 is our Supply •, whence 'tis plain, that 
 the Trade we now drive by means of Ja- 
 maica to the Sfanifh WeH-lndies y is more 
 profitable to us in the Sales of our Ma- 
 mfaffurcS) then when we fent them for- 
 B z merlv 
 
At ESSJY 
 
 ■ 
 
 mer;y ; ffe One they yielded 
 
 E r rice , in the other 
 ihey i.:il ' fir c^ per Can \ all "raid 
 ia the *ame Specie; 
 
 Bur kt us ducly conftder whac had 
 ben the Confequencc of raiiing our 
 Monty '%t Home to Six Shilling the<7;w# 3 
 as theie Men. defired it:, for cirhcr our 
 Goods would have rofc fuitably -with 
 it, or they would not v if they had, the 
 raifing of cur Momi would ha*e done us 
 no. Service, becaufe it would have pur- 
 chafcci no greater quantities of Commo- 
 dities then before, only it had be eta ac- 
 comranyed with this ill Confeqaencc, 
 that the Landlords of England, rj.e Pocr^ 
 the Vfurer, and all who depend on ft.n- 
 dins Salaries v would have had their -H- 
 i ibces kficned a Sixth part at once,, be- 
 caiife their Houfe-kctping and other Ne- 
 ceflaries would have cdCx them a ■ 'Six^'li 
 part more then they -did before-. But "if 
 Rents, Wagts^ Iwereftf and SnUarie^ \ 
 
 durable to the Md>> ', what figfiifies 
 ks . Advance f On i;.j other hd< 
 Goods dr> riot rift as our Money is iniicfc 
 ign Nations will be ithn-lyeft 
 c .Predict and Manufa&uit's for 
 riv hs cf their true value, whilft 
 
 \*>c y our General Trade, 
 
 and 
 
on 
 
 Covn and Credit. 
 
 and yet the Expcnces of every Private 
 Family be encrcafed , Sfo rar as they 
 make ufc of Forreign Commodities. 
 
 Money cannot, be railed, it may be re- 
 duced into lefs Pieces, and this hath been 
 a great Stumbling Block to many Peo- 
 ple, who have not well confide red the 
 Difference- they cell us that a Penny in 
 former days was the fame with Three 
 Peace now • this mud be granted, and 
 yet it mikes no difference, Twenty of 
 tho(e Pence made a Crown then, and fo 
 they do now, only for the Convenient;/ 
 of our Trade , later Reigns have thought 
 fit to Coyn Pieces of Silver one Third 
 part of their Weight, and to call them 
 by the fame Denomination, and yet 
 i hofe pieces recei e no val :e from their 
 Name, but (land in an equal Proportion 
 with the other , Sixty of them making 
 a Crown • in like manner, .fhouid the 
 Crown be divided imo Six Parts, what- 
 ever Name we might call them by, the 
 true value of each would be but Ten 
 Pence • but this being already fettled by 
 Law, 'tis to be hoped that the Parlia,- 
 went will no,t eafily be prevailed with to 
 ah ( v it 
 'The thing I chiefly aim at ii fill be- 
 B 4 hind 
 
21 An E S S AY 
 
 T 
 
 hind, i/£, to confider ho v a Credit may 
 be fettled in this Nation, as good, or ra- 
 ther much better then what hath been 
 loit ^ That Trade cannot be driven with- 
 out ir 5 I have offered at in the begin- 
 ning of this Treatife, and that ic cannot 
 be fupplyed by advancing our Monty, or 
 any thing of that Nature, feems to me 
 ouc of douht; we are next to confider, 
 what may be done-, all former Methods 
 we fee have failed, and indeed they ne- 
 ver had a Foundat on fit to fupport the 
 Building raiied on them ; our bink* and 
 Bankers had too miich of Iclf in them, 
 to be the Support of a Na:ional Trade. 
 Credit I take to be That,whuh makes 
 a fmaller Sum of Money pafc as far as agrea- 
 tcr,and lerveailthe ends of T Caswell, 
 and to give Satisfaction to every one 
 Coiuem'd. that he is fafe in whit he 
 doth, iorifthe lead Room is ji ftiy left 
 for do::bt, fo tar is the CW/Mvcakcned$ 
 It mud be inch a Credit, as will anfwer 
 all the occaiions both of the Government, 
 and alfaofrhe Trader ; h muftbe fo fct- 
 led, as to provide for thofe who arc ouc 
 O' Trade; fu:h a^ lV:diews , n -rpha</$ G m It* 
 wtrtp and others, whq living by lifury, care 
 rVi <it be taken that their Mo-icy may never 
 lye dead on their Hands, and that rheir 
 
 Secu- 
 
on Coyn and Credit. *5 
 
 Security be unqueftionable h by which 
 means, chough they lend cheaper, yet 
 their Ptofic at the end of Seven Years 
 will be greater, then it formerly was, 
 when the rate of Intereft was higher, but 
 attended with Accidents 5 It rouft be fuch 
 a Credit^ that the Trader may have Mo- 
 ney on fuch reafonable Security as he is 
 able to give, and for fo long time as 
 he (hall have need to ufe it, and yet That 
 Security be made ftrong enough to an- 
 fwer the Sum borrowed ; by which means 
 our Produ&s will be increafed, our Ma- 
 nufactures incouraged, and our Fifrerjy 
 with other Forreign Trades, managed 
 on Terms equal with our Neighbours 5 
 It muft be fuch a Credit* thar the Gen- 
 tlemen of England may be furnifh'd with 
 Money at low Intereft, and be permitted 
 to make their Payments by fuch Parts 
 as they can beft fpare it, the want of 
 which is now a Clog on their Eftates, 
 and eats up very good Families, who 
 when they are once gotten into the U- 
 furers Books can find no way out ; fuch 
 unhappy Gentlemen have too often their 
 Hou^s filled with Scriveners and Sollici- 
 t$rs^ who entertain them with the croak- 
 ing Mufick of Procuration and Continue 
 tion* till they have devoured their E- 
 
 ftates 5 
 
l6 JnESSA? 
 
 (rates }.It mult be fuch a Credit as iiiall 
 have an eftetm in Forreign Parts, and 
 make the Triers of Europe defire to home 
 v here » It muft be fo Lrled, 
 thar the J^Atipvs Debcs rrjuy be as pun- 
 c.ually paid as : orrei^n Bills, and all 
 Men who truft the Govmimznt as vyell 
 allured of their Mom) when due, a*> they 
 are now from the molt reputably Mer- 
 clums j then the King wi.l buy c 
 when all who ferve him are paid exactly, 
 and the meancft Trades Men will not be 
 afraid, to deal with the Publick , wjicp 
 they are fare to be paid according to 
 their Contracts,which oow aone but large 
 Stocks can- adventure toco, and there- 
 fore make their own Terms ; It muft be 
 ietl?d, ihuc he who hath Monty in one 
 place qi England may have it in any oiher 
 Place where he fhaHwantit, at an in- 
 confiderable Charge, which. cannot now 
 be done,wuhout locally altciing the &$e- 
 cieL and carrying the \ to the place 
 
 where 'tis wanted - y this will prevent ma- 
 ny Robberies now committed - 7 It muft be 
 Jo Ceded, that as on the one fide it may 
 aafwer the ends of the Borrower, fo on 
 the other fide it may likewiie of the Len- 
 der, in a word, Ic muft be a Credit fee- 
 led on an uniueftionablc Foundation , 
 
 which 
 
on Coyn and Credit. . 27 
 
 which may be wound rip to a perpetual 
 Circulation, like thofe W aters , which 
 being firfl drawn up from the Sea > 
 then'fhowerd down on 1 the Earth, and 
 
 ; (trained through its porous Cranies, 
 glide through the Rivers into the Sea again 
 
 -from whence they came , where thqy 
 become the Subieft Matter for future Ex- 
 rM'&ttons: ; 
 
 A Credit thus fix'd mud needs be of 
 
 ;r Advantage to this Kingdom, and 
 
 ihou'id it coft an Hundred Tkoujand Pounds 
 
 pr Annu^m carry it on, yet the Nation 
 
 • Vould ga li many Millions by l^ though 
 if rightly feded, It will not only fupporc 
 its own € -harge, but bring in a great ad- 
 vantage to -the Publick. °iiith a Credit as 
 Th.s would make us the Envy of all our 
 Neighbours^ who though they might de- 
 fir c it, are not able by t e Cenftitutions 
 of their Gcvemrpeius to efteft it. 
 
 Nor are thefe all the Advantages the 
 Nation wul reap by a well fetled Credit - 
 - K for befidfs, that out of the Profits there- 
 of new Stocks might be provided for in- 
 
 • daftrioi s Menj who, having been bred 
 up in TrArles beneficial to the Natioa, 
 
 •and careful In thofe Imfloyments 7 have 
 yet been forced to (loop under the Load 
 of their Crcfs F rtun, s \ Which Vv heels 
 
 being 
 
An ESSAY 
 
 being again fct ac Work, will by their 
 Circular Motion carry round many others, 
 and by thcfe Means in time reimburfe 
 their Benefaftor . much like unto well 
 manured Lands, whofe plentiful Crops 
 do fooa repay the Charge of Soiling laid 
 out on them by their Proprietors, with 
 Advantage $ On the other fide, Rewards 
 might be raifed for thofe, whofc honeft 
 Heads have grown Gray in the Service 
 of the Publick- and herein we fhould 
 imitate our Wife Neighbours, who do 
 the fame out of the anticnt Dcmefn of 
 HolUnd y though in another way, where- 
 by they give Incouragcment to thofe 
 who pafs through the Imployments of 
 their State> to ferve it with Integrity, by 
 an expectation to obtain this Honoura- 
 ble and Profitable Retreat in their Old 
 Ages. 
 
 I fay befides thefe, many great things 
 might be done for this Nation out of the 
 Profits of this Bank . as the Draining of 
 Levels 5 Regaining Lands out of the Sea ; 
 maintaining Lights for the Dire&ion 
 of Navigation * providing Imployments 
 for the P&or; all which would more then 
 pay the Expences laid out on them, and 
 are Works too great for common Stocks, 
 and fit only for Parliaments to undertake * 
 
 New 
 
on i^oyn and <jredit. ap 
 
 New Inventions might be rewarded, ac- 
 cording as they were found ufeful to the 
 Publick, which would be better then 
 confining their ufe for tourtecn Years 
 to the Inventor $ Committees or Councils 
 of Trade might be ere&ed 5 and Courts 
 Merchants fctlcd for the more eafie and 
 quick deciding of Differences relating to 
 Trade, which after great cxpences in 
 We(iminfter-Hall, are now ufually referred 
 to the Determination of Thofe, whoun- 
 derftand them better then the Lawyers can 
 pretend to do s Ships of War might like- 
 wife be built, fitted out, and feparated 
 for the Security of our Trade ^ and all 
 this out of thofe Profits, which formerly 
 jflid through private Channels into the 
 Pockets of ufelcfs Men , who muft be 
 then forced to betake themfclves to Im- 
 ployments more Serviceable to the Pub» 
 lick ; in this we ftiould out do our induftri- 
 ous Neighbours the Butch , even isi 
 their own way. 
 
 And fince I have mentioned a Council 
 of Trade , I cannot let it pafs without 
 fome Reflexions, (though I have (hewn 
 the Advantages thereof, if well fetcled, 
 in another Treatife) we generally imploy 
 Commiflloners in the Management of 
 things of much meaner Circumftances , 
 
 and 
 
, An ESSAY 
 
 and believe they cannot be well carryed 
 on without them, who are fuppofed to 
 underftand what they undertake whilfV 
 at the fame time, the general Trade of 
 the Nation (which is the 'fupporc of all) 
 lyes neglefted, as if the Coggs which 
 dircded its Wheels did not require skill 
 to keep them true-, Tr'ade^tqnfrcs as much 
 Policy as Matters of Stare, and can ne- 
 ver be kept in a regu-ar Motion by Ac- ' 
 cident; when the frame of our Trade is . 
 out of Order, we know not where to be- 
 gin to mend it, for want of a Sett of Ex- 
 perienced Builders, ready to receive Ap-'" ; 
 plications, and able to judge where the 
 defed lies 5 'tis not the twifting of Laws, 
 and. forcing them beyond, and fometimes 
 contrary to their firft Indentions, under 
 pretence of advancing His Majefty's Cu- 
 ftoms, will anfwer that end 5 nor wor- 
 rying the Merchants with unaecefiary and 
 Groundlcfs Suits, wherein thcKing'sName 
 and Purfe arc often made ufe of to fcreen 
 the Ignorance of Self-Conceited Officers-, 
 Honefty, Iucufhry, and good Judgment, 
 are three ncceflary Qualifications for 
 fuch as Src employed in the Publick 
 Rcvcaue \ if Heads vers'd in Trade . 
 were fet at Work, rhe King's Cuftoms 
 .might be advanced mmy Thoufand 
 
 Pounds 
 
on Coya and Credit. 31 
 
 Pounds'/^/- Annum, by fuch proper Me- 
 thods, as would at the fame time pro- 
 mote Trade , and enrich the Trader. 
 
 Tis certain, we cannot fupport onr 
 Trade long without a Jubilant ial -Credit, 
 every Man running daily in Debt, and 
 not knowing which way to get out of 
 it • the Species of Urnkj will not anfwer 
 t*e occafiOi^s we have to ofe it, by 
 which means there is a difference already 
 of Fifteen per Cext between Mom j and Cre- 
 dit,, which raufl be paid, v here Mens nc- 
 -ceflities do require the former \ thus our 
 Forrei^n B lis will become a Burthen on 
 '■•Trade, when the Picmio of raifing Mo- 
 ney to pay therh (hall be fo great, and 
 confequendy the Importer muft advance 
 "it in his Sales, which will be a heavy 
 Tax on the Nation % both Gentlemen and 
 Traders who are engaged in imSk muft 
 either make them a (landing Charge on 
 their Fftates, or pay them off at Fifteen 
 pr Cent lofs ♦ and this is not likely to 
 grow better, but rather wor'e ■ the Re- 
 tailer will be the happk-ft Masv\vhoh;:?h 
 t e Conveniency of rai/ing 'MonefiffWtz- 
 with he rftay purchafe feank Bills, and 
 pay his Creditors wirh them, for which 
 Opportunities will not be wanting in ail 
 places of 'England) when the CMhitrs 
 
 dull 
 
Jci ESSAY 
 
 fliall be forced to receive them in pay- 
 ment from their Factors in London^ under 
 .pretence that they had them for their 
 Cloath , which , whether true or no t 
 they will have a fair Opportunity to put 
 upon them •, thefe Bills not anfvvering the 
 Clothiers Occafions, who muft have Mo- 
 ney to pay their Workmen, will be fold 
 to Shop-keepers in ihe Country who will 
 return them thither again, to anfwer the 
 Credits they have received there $ This 
 will fuddenly be our State, and the Trade 
 of England Center in that great City, to 
 the prejudice of all other Sea- Ports, un- 
 lefs fomc Care be taken to better our 
 Credit -, for though our fupply of Money 
 may annually increafe from the Mints^ 
 yet there will be People ready to catch 
 it up, in order to make thefe Advanta- 
 ges ; and indeed every Man, to whofe 
 Hands Money fliall come, will endeavour 
 to do the fame, fo that to what a Con- 
 dition the King's Affairs will in a fhort 
 time be reduced, 'twill not be difficult 
 to Gucfs, when, befides former Cloggs, 
 another addition of Fifteen per Cent (hall 
 be added to all the Money is taken up 
 for the Occafions of the Natior 
 
on Coyn and Credit. ? -> 
 
 I am of Opinion thac whatever Dif 
 Acuities may feem to attend the fettling 
 of fuch a Credit, yet it may be done, 
 alid I humbly Conceive that Methods 
 may be Propofed, fuch as may anfwer all 
 the Ends intended by it -, but then it 
 muft be done with an Eye defigning only 
 the general Good, Self muft be clear ihuc 
 out, and had we more publick Spirits, 
 things which feem difficult would appear 
 more eaftc - Self Intereft, as it Byaffes 
 our Judgments^ fo it perplexes our De- 
 figns-, a frank free Spirit for the common 
 Good will go a great way in a generous 
 undertaking, and the Publick is able to 
 reward fuch honeft Endeavours, which 
 'twas better they did, then fufFer the 
 Treafure of the Nation to be eat up by 
 Goldsmiths, and other Harpies, who prey 
 upon our vitals $ by the one the generous 
 undertaker is no Charge to the Publick, 
 but increafes its Treafure, whilft the o~ 
 ther leflensit, anddeftroys our Trade in- 
 to the Bargain. 
 
 The Face of our Affairs feems to look 
 lowring with refpeftto thefe threeThings 5 
 the meannefs of our Credit s the lauguirti- 
 ing of our Trade : and the ill manage- 
 ment of Publick Offices in relation "to 
 both j I do not mention this tc amine 
 
34 
 
 An ESSAY 
 
 the Nation, but as deplorable as things 
 feem to be, I doubt not a Remedy may 
 be found out to reflific all, if Men of 
 quick and (hong thoughts were fet about 
 it. 
 
 I have already fpoken ro the firft, our , 
 Credit^ The next is our Trade, which 
 mull be acknowledged to have laboured 
 under the neglcft of a tedious, bnt ne- 
 ccifary War ^ and this is not our Cafe 
 alone, all Europe has felt the fmart of it, 
 and France hath had little Caufe to boaft ; 
 I am apt to think it hath lighted more fe- 
 vercly on that Nation then any other, it 
 hath feized on the Vitals of her Trade, 
 which it hath not done on ours^ Here 
 let us Confider what are the Vitals of 
 the Trade of France, and we {hall find 
 them to be, Wines, Brandy, Taper, Silks, 
 Salt, and Li mens, in all which both our 
 Selves, and other Nations, have made 
 fuch a Progrcfs, that the French, who 
 live by them, will fcarce ever recover 
 the Blow they have Received ; On the 
 other fide, the Vitals of this Kingdom 
 are , our Mauufa <ures, our Fifhcry, and 
 our Plantation Trader As to the firft, ic 
 muft be confeft our Loffes at Sea have 
 been great, a;;d 1 ghted heavy on the 
 Exporters, but ftill the Mwufaciuri ic 
 
 fdf 
 
on Coyn dnd Credit. -> j 
 
 felf hath not (offered , nc other Ndtion 
 hath beat us out of the making of them, 
 nor hath had occafion to difufe them for 
 want of a fupply . and if our Woollen 
 Manufactures fink not in their Reputations 
 Abroad, and Care be taken to fecure 
 our own Wooll from being carryed out , 
 and to get that of Ireland brought hither 
 Unman uj 'affured , farther Improvements 
 may yet be made to the advantage of the 
 Nation-, but having fpoken largely to this 
 Subjed in my JFjJay on Trade^ I lhall re- 
 fcrr the Reader to it, where I have like- 
 wife fhewed how the Wool of Ireland may 
 be fecured hither $ I {hall only now of- 
 fer it as my Opinion, that better Steps 
 may be made towards keeping our own 
 from being Exported then have yen 
 been done % I tonfefs all the Laws I 
 have yet feen about Wool feem to reach 
 but half way, they depend too much on 
 Force and Penalties, and too little on 
 Polky ; we muft begin deeper, and fe- 
 cure the Wool from the time of its grow- 
 ing, till 'tis wrought up into Manufactures^ 
 This may be done by practicable Me- 
 thods, and nothing lefs then this can do 
 it ; our Laws muft be fo framed, that ic 
 lhall be the Incereft of every one con- 
 cerned in Wool to put them in Execution; 
 C z Pro- 
 
Provifion muft be made to fupp!y the 
 Growers in all Countrejs with Money to 
 ferve their Occafions • and when they 
 i fee it more their Advantage to fell 
 their Woolly to be wrought up at Home, 
 then to be fent Abroad, no doubt they 
 will do it. Men are not apt todefire the 
 ruine of their Native Countre^ but when 
 they think themfelves negledted 3 are of- 
 ten provoked to take fuch Courfes, as 
 they would not othcrwifedo-, Thofe of 
 Kurnn) Marfr complain of this, that ha- 
 ving few Clothiers , their Woo 11 lyes on 
 their Hands whilft other Counties have 
 any to fell> by which Means their Rents 
 are unpaid, whilft their Tenants have 
 fometimes Three Years Wool on their 
 Hands $ now fay they, let us be fure of 
 om Money once iw a Year, we our Selves 
 would take Care that none fhould be 
 Exported ; 'tis not the Price but the Pay- 
 ment that prompts us to take thefe Cour- 
 fes, which, in our own Judgments, we 
 think deftru&ive to the Nation-, This 
 might cafily be done if our Credit were 
 well fetled, and Wool might be made a 
 better Staple then now it is ^ nor am I 
 of Opinion that the beating down its 
 Price is our Advantage, 'twould bear a 
 better Rate if we could keep it from be* 
 
 ing 
 
*ng (hipt out; I belive this Malady 
 might be foon Cured , were the thing 
 well Confidcred. 
 
 The next Vital in Trade is our Vi/hery 
 wherein we have had greater advantages 
 then the French^ the Ports of Spam have 
 been open to us, which have been (hut 
 to them -, This might be improved very 
 much to the lntereft of Englandjwctzz good 
 Credit fettled • many Hundred Thoufand 
 Pounds might rhen be raifed from thefe 
 Northern Seas> which would be all Profit 
 to the Nation. 
 
 Neither have we fuffered in our Plan? 
 tation Trade by this War fo much as the 
 French have doae ♦ I do not fay we 
 have uot fuffered in our Navigation^ but 
 our Plantations are not leflened fince the 
 War began » and our Lofles by Sea have 
 is fome Meafure been made good to us 
 by our Neighbours the Dutch, and others, 
 who have depended on us for their Pro- 
 duds, to whom we have fold both our 
 Sugars and Tebacco? at higher Prnes then 
 we could have done, if all our Ships had 
 come home well > Thefe are our Gtlde* 
 Hhts^ and have helpt to fupport the Bal- 
 ance of our Trade during the War, their 
 Products being clear Profit to the Natien; 
 and might be yet more Serviceable, were 
 
 Laws 
 
An hbbAl 
 
 Laws made which might eflc&ually fe- 
 cure ail their Product to be brought hi- 
 ther •. efpecially Tobacco , whereby we 
 might as tt were put a Tax onmoft parts 
 <x Europe, and make them pay towards 
 the Support of our Government ; Tis a 
 mighty advantage to a Nation, when it 
 produces a Commodity, fo generally defi- 
 red 3 and fo univerfally ufed>as70^<rf<?is, 
 which, Cuftome hath to fome People 
 made equally neceffary withProvifions,fo 
 that they can as well be without the one,as 
 the other ; fuch a Trade as this, ought 
 to be guarded with a great deal of Care, 
 and all our Laws (hould tend to make it 
 cade; where great Duties are laid, en- 
 deavours ihould be ufed to have them 
 equally paid, elfe Men do not Trade a- 
 like, but the ho s eft Importer will be under 
 fod by him that runs them ; I humbly 
 Conceive, a Model! might be propofed to 
 make this Commodity much more ad- 
 vantageous to the Kingdom, and to (line 
 out Strangers from being concerned there- 
 in i ways may be found out to fecure To* 
 lacco from the time of its being cured in 
 the Plantations, till the Duties were paid 
 in England, and by fuch Pra&icable Me- 
 thods , that none fhould go befides the 
 Mill, or be Exported to Forreign Coun- 
 
 triesi 
 
on Coyn and Credit. j jj 
 
 tritS) till it had firft paid a Toll here • If 
 this were done, we might ice almoft 
 what Price we thought fit thereon to 
 Torreign Parts > fuch a Trade as this de- 
 fences all the Incoaragement the Nation 
 can give, both to the Planter, and alfo to 
 the Importer, which cannot be done by 
 any Lav*s I have yet feen i but new ones 
 may be made, whereby the former might 
 be incouraged to raife greater quantities, 
 and the latter to fetch them Home, and 
 the Government might receive a confide- 
 rable Revenue thereon, both from the 
 Retailer, and the Exporter, with very lit- 
 tle Charge, were a National Credit well 
 fettled. 
 
 Lastly • The Publick Affairs cannot be 
 expe&ed to be Managed well till a good 
 Credit is fetled, and from hence do arifs 
 all our Miferies ; J Tis a Shame to fee 
 how Ics Debts arc Compounded, andihofe 
 who truft It forced to make Provifion ac- 
 cordingly by great Over-charges, whilil 
 the Nation pays the whole, 1 he reft be- 
 ing devoured by Agents, Tally -Buyers , 
 Solicitors y Gddymiibs , and others, who 
 raife great Eftates on the ruvne of the 
 Publick ; befides the exceffive Rates the 
 KING is now forced to pay for ; MMty y 
 and the Chain of ill Confluences (bn 
 
 at- 
 
An ESSJI 
 
 attend the non payment to fuch as arc 
 imploycd : Our Souldiers would fight more 
 Couragioufly, and our Sailers ferve more 
 wiUirigly> were they paid more Pun<ftu- 
 ally ; and I dare prefume to fay, that 
 if a Credit had been well fetled at the be- 
 ginning of this War, it might have been 
 carryed on with better Succefs, and we 
 appeared more formidable to the French 
 then we have done, for half the Charge 
 it hath now cod the Nation. 
 
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 F 1 N I S, 
 


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