CONSVETUDO, VEL LEX MERCATORIA, OR The Ancient Law-Merchant. Divided into three Parts: ACCORDING TO THE Essential Parts of Traffic. NECESSARY FOR ALL Statesmen, judges, Magistrates, Temporal and Civil Lawyers, Mint-men, Merchants, Mariners, and all others negotiating in all places of the World. By GERARD MALYNES' Merchant. Salus Populi, suprema Lex esto. LONDON, Printed by ADAM ISLIP. Anno Dom. 1622. DOCTRINA PARIT VIRTUTEM. TO THE MOST HIGH AND MIGHTY MONARCH JAMES, BY THE GRACE OF GOD, KING OF GREAT BRITAIN, FRANCE, AND IRELAND, defender OF THE FAITH. Most Dread and Gracious Sovereign, THe state of Monarchy must needs be the Supremest thing under the cope of Heaven, when Kings are not only God's Lieutenants upon earth, and sit upon his throne; but also are called Gods, by God himself, in regard of their Transcendent Preeminences and Prerogatives, whereby they maintain Religion and justice, whichare the only true supporters and fundamental stays of all Kingdoms and Commonweals, so naturally united and conjoined, that where both of them are not, properly there can be neither. These high Attributes cause their Laws to be sacred, and consequently religiously to be observed; whereby justice is administered, which is Distributive and Commutative. The Commutative part includeth Traffic, which is the sole peaceable instrument to enrich kingdoms and commonweals, by the means of Equality and Equity, performed especially by the Law-Merchant by reason of her stability. For albeit that the government of the said kingdoms and commonweals doth differ one from another: 1 In the making of laws and ordinances for their own government; 2 In the making of War, Peace, or Truce with foreign nations; 3 In the providing of money within themselves for their safeguard and defence; 4 In the election of chief officers & magistrates; and 5 In the manner of the administration of justice, wherein many mutations are incident: yet the Law-Merchant hath always been found semper eadem, that is, constant and permanent without abrogation, according to her most ancient customs, concurring with the law of nations in all countries. Great reverence is due unto Laws at all times, and hath been in all ages. Solon caused the Athenians to swear to the observation of his Laws during the time of one hundreth years: Lycurgus did embrace a voluntary perpetual exile, to have his laws observed by the Lacedæmonians until his return, intending never to return: and the Romans did suffer their old law of twelve tables (though unjust in many points) to decay by little & little, rather than to make a sudden alteration of it, tending to the contempt of laws: greater reverence than is due to the Law-Merchant which hath proved always firm and inviolable. Wise men have observed, that happy are those Commonweals which are governed by Philosophers; happier is that King who can wisely govern them; but most happy is your Majesty in whom true Philosophy doth reign and prosper, as vines do in eminent places, by an inestimable treasure of an observing, discerning, and applying Princely judgement, governing your kingdoms and dominions. The consideration whereof (accompanied with my bounden duty) hath emboldened me of late, to dedicate unto your sacred Majesty, a little treatise entitled The maintenance of free Trade, wherein mention is made of this Volume, which likewise is to be presented unto your highness; for it befalleth unto me, as it did to the Philosopher, who (by progression in wisdom, endeavouring to attain to the perfection of knowledge) did perceive that the nearer approaching thereunto, seemed to him to be furthest off: so my endeavours (striving to deserve some things at your royal hands) seem unto me to merit least of all: But being confident of your most gracious benignity and superexceeding grace, I do offer unto your most judicial eyes this Law-Merchant, described according to the three essential parts of Traffic with the means whereby the wealth of your Majesty's kingdoms and dominions may be increased and preserved, which being done by just and politic courses, may properly be called the Preheminent study of Princes, grounded, by Commutatio negotiativ●, upon the rule of Equality and Equity as aforesaid, observed by your High wisdom upon the Predominant part of Trade, which is the mystery of Exchange for Moneys between us and foreign Nations, wherein your Highness doth surpass all the Treatises and Conferences had by your noble ancestors and predecessors Kings, with other Princes and States. If your most excellent Majesty therefore shall be pleased (from the Zodiaque of your gracious aspect) to cast some reflecting beams upon the plain superficies of this Law-Merchant, every little spark therein will become a flame, and all Merchants and others shall be enabled to draw (by the Diameter of it) Meridian lines of your royal favour, without which this Book may be compared to a Sun dial which is no longer serviceable, than whilst the Sun beams do illuminate the same. In hope of which superaboundant favour, I do apostrophate this Epistle, but do multiply my ardent prayers for your Majesty's most happy Reign long to endure over us, to God's glory and our comforts. Your Majesty's most loyal and obedient subject GERARD MALINES. TO THE COURTEOUS RERDER. THat famous Philosopher Xenophon, extolling the Persian Laws, testified that their Citizens from their infancy, were educated and taught not to attempt, or almost to imagine any thing but honest and just. Which was the cause, as Gellius reporteth, that Draco a Citizen of Athens made their laws so strict and severe, that it was said They were written with Blood, and not with Ink: whereas on the other side the Law made by Solon was compared to a spider's web, which taketh the lesser flies and suffers the greater to escape and to break the same. So that (every extreme being vicious) Reason requireth a Law not too cruel in her Frowns, nor too partial in her Favours. Neither of these defects are incident to the Law-Merchant, because the same doth properly consist of the Custom of Merchants in the course of Traffic, and is approved by all Nations, according to the definition of Cicero, Vera Lex est recta Ratio, Natura congruens, diffusa in Omnes, Constans, Sempiterna: True Law, is a right reason of nature agreeing therewith in all points, diffused and spread in all Nations consisting perpetually, whereby Meum and Tuum is distinguished and distributed by Number, Weight and Measure, which shall be made apparent. For the maintenance of Traffic and Commerce is so pleasant, amiable and acceptable unto all Princes and Potentates, that Kings have been and at this day are, of the Society of Merchants: And many times (notwithstanding their particular differences and quarrels) they do nevertheless agree in this course of Trade, because riches is the bright Star, whose height Traffic takes to direct itself by, whereby Kingdoms and Commonweals do flourish, Merchants being the means and instruments to perform the same, to the Glory, Illustration, and Benefit of their Monarchies and States. Questionless therefore, the State of a Merchant is of great dignity and to be cherished; for by them Countries are discovered, Familiarity between Nations is procured, and politic Experience is attained. Whereupon I have been moved (by long observation) to put the worthiness of the Customary Law of Merchants, in plain and compendious writing, by undoubted principles, familiar examples, and demonstrative reasons, without affectation of curious words, more than the gravity of the Theme (in some places) did require. I have entitled the Book, according to the ancient name of Lex Mercatoria, and not Ius Mercatorum; because it is a Customary Law approved by the authority of all Kingdoms and Commonweals, and not a Law established by the Sovereignty of any Prince, either in the first foundation or by continuance of time. And beginning with Time, Number, Weight and Measure, I do descend to the three Essential Parts of Traffic, divided into three parts accordingly, by comparing them to the Body, Soul, and Spirit of Commerce, namely, Commodities, Money, and Exchange for money by Bills of Exchanges. The first, as the Body, upheld the World by Commutation and Bartering of Commodities, until money was devised to be coined. The second, as the Soul in the Body, did infuse life to Traffic, by the means of Equality and Equity preventing advantage between Buyers and Sellers. The third, as the Spirit and Faculty of the Soul, (being seated every where) corroborateth the Vital Spirit of Traffic, directing and controlling (by just proportions) the prices and values of Commodities and Moneys. For even as, Merchants are the Instrumental Cause of Trade; even so is the Exchange for Moneys, the Efficient Cause with us in the course of Traffic, and become Predominant or overruling the price of Commodities and Moneys, as aforesaid. This is manifested by three Paradoxes alluding to the said three Essential Parts of Commerce, which (for a Corrollarie) I have added in the latter end of this Book, with such other worthy observations as in the first Chapter are declared. And even as the roundness of the Globe of the World is composed of the Earth and Waters: So is the Body of Lex Mercatoria, made and framed of the Merchant's Customs, and the Sea-Lawes, which are involued together as the Seas and Earth. In the description whereof, I have used to make repetition of the Material points, according as occasion did minister unto me for to make application thereof, for the better understanding of the judicious Reader, which is the main Scope that all Writers are to regard and care for. The means whereby the differences and controversies happening between Merchants in the course of Trade are ended, is also declared, which most of all require Brevity and Expedition, and had need of a peremptory proceeding, as was invented for the Common Law of the Realm of England, the due commendation whereof is added hereunto; showing also how of the same there might be made an Art or Science, and what observation of other Laws are concurring with ours, both in the strictness of Law, and the lenity of Equity, most consonant with the Law-Merchant, the knowledge whereof is of so great consequence, that without it all Temporal Laws are not complete, but imperfect. The Scope of all therefore is, That the Rule of Equality and Equity may take place between Us and other Nations, which Velut Ariadnae caecaregens filo vestigia, non modo nos errare non sinit, fed etiam efficit, ut aberrantes in rectam viam deducamur, as hath been mentioned in our last Treatise of the maintenance of free trade, lately published. Concluding (gentle Reader) upon all the premises handled (as I hope) substantially, I commend and submit the same to the loving entertainment of the profound and discerning judgement of the discreet, wise, and experienced; wishing that (like matter set down by the Pen of Apollo) they may sound sweetly in your apprehension, and give to your conceit most harmonious Music, Pleasure and Delight. London the 25 of November 1622. Thine to use always ready, GERARD MALYNES'. A TABLE OF THE CONtents of the first part of Lex Mercatoria, or the ancient Law-Merchant, concerning Commodities, compared to the Body of Traffic. Chapter. Pag. 1 AN induction to Lex Mercatoria, or the Law-Merchant, and the antiquity thereof. 1 2 An observation concerning Time. 8 3 Of Number, and the mysteries thereof. 17 4 Of Weights and Measures used in all places of the world, with other observations. 19 5 Of the three essential parts of traffic, namely Commodities, Money and Exchange of money by bills of Exchanges. 58 6 A geometrical description of the world, especially of Europe, measured by millions of acres of ground upon the map. 66 7 Of the Commodities of all Countries, whereby commerce is maintained. 70 8 Of Commutation or bartering of commodities. 83 9 Of ordinary buy and sellings of Commodities. 91 10 Of Suretyship and Merchants Promises. 93 11 Of the revolution of buying and selling of Commodities in the course of Traffic. 95 12 Of the transferring and setting over of Bills obligatory between Merchants and others. 98 13 Of the Nature of Bills obligatory beyond the Seas, and in England. 101 14 Of Letters of Credit, and Blanks signed. 104 15 Of Letters of Attorney, or Procurations and Transports, and Conveyances. 106 16 Of Factors and servants, and Commissions given unto them. 111 17 Of the beginning of Sea Laws. 119 18 Of the manner of proceeding in Seafaring Causes. 121 19 Of buying and selling of Commodities by Contracts. 122 20 Of Banks and Bankers. 131 21 Of the Freighting of Ships, Charterparties, and Bills of Lading. 134 22 Of the Master of the Ship, his power, and duty of the Master to the Merchant. 142 23 Of the duties and privileges of Marinors. 144 24 Of the office of Assurances, and the ancient custom of the same. 146 25 Of Policies of Assurances, and the substance of them, and of contributions. 150 26 Of the manner of Contribution, or Aueridges. 157 27 Of the particulars to be observed in Assurances. 159 28 Of the manner of proceeding for Assurances in case of losses. 161 29 Of Shipwreck, and things found upon the seas. 167 30 Of partners, and ships voyages. 169 31 Of moneys taken upon bottomarie, by the Master of a Ship, called Foenus Nauticum. 171 32 Of Shipping and Navigation. 173 33 An Abridgement of the imperial Sea Laws of the Haunce Towns made in the year 1614 175 34 Of Navigation, and Community of the seas. 182 35 Of the distinct Dominions of the seas. 185 36 Of Customs, Subsidies, and Impositions paid upon commodities. 193 37 Of Merchant's Wagers, Stipulations, or conventions. 197 38 Of Merchant's marks set upon commodities. 199 39 Of the buying and selling of commodities by Brokers, and by the Candle. 201 40 Of buying of Commodities by Condition, termed Capiticus, and selling things upon casualties. 203 41 Of dividing of commodities by Lots. 205 42 Of Assotiations, Monopolies, Engrossing, and Forestallings. 210 43 Of Merchant's Oppignorations. 218 44 Of the proceed used against Bankrupts. 221 45 Of Manufactures. 229 46 Of plantation of people, and new discoveries. 234 47 Of the fishing trade. 241 The Contents of the second part of Lex Mercatoria, concerning Moneys compared to the Soul of Traffic. 1 OF the essence or existence of Metals. 255 2 Of Mines Royal. 259 3 Of mines and minerals. 268 4 Of the profitable working of mines. 272 5 Of the nature of gold, silver, and copper, and of the moneys made thereof. 274 6 Of the officers of mints. 279 7 Of the assays of b●llion and moneys. 284 8 Of the weight and fineness of moneys, and their several standards. 291 9 Of the valuation of moneys, and the proportion between gold and ●iluer. 307 10 Of the laws and prohibitions against usury. 235 11 Of usury politic, and moneys delivered at interest. 329 12 Of intolerable Usury, and Lombard's. 337 13 Of Mons pietatis, or Banks of charity. 341 14 Of the true calculation of moneys at interest. 345 15 Of usurious Contracts. 349 16 Of lawful Bargains and Contracts. 352 17 Of the universal and perpetual princely contract of commerce. 354 18 Of moneys delivered upon lives, annuities, and pensions. 358 19 Of the denomination and division of moneys of diverse countries. 360 20 Of Merchants accounts kept by Debtor and Creditor. 362 The contents of the third part of Lex Mercatoria, concerning Exchanges for Moneys by Bills of Exchanges, compared to the spirit or faculty of the Soul of Traffic. 1 OF the beginning of the Exchange for moneys by bills of Exchanges. 378 2 Of the true calculation of moneys in exchange by bills, according to par pro pari. 382 3 Of the denomination of the imaginary moneys of all places, whereupon Exchanges are made by bills of Exchanges. 386 4 Of the times of payment of moneys by exchange, and the terms of art used therein. 391 5 Of the nature of bills of Exchanges. 393 6 Of the non-acceptation of bills of Exchanges, and the customs observed concerning the same. 398 7 Of Notaries, Intimations, and Protests. 401 8 Of reciprocal or double Exchanges. 404 9 Of the feats of bankers performed by Exchanges. 408 10 Of the true reformation of Exchanges. 413 11 Of Attachments and Arrests. 424 12 Of Sequestrations and Executions. 428 13 Of denization and naturalisation of Merchants. 439 14 Of the determination of seafaring causes. 443 15 Of Arbitrators, and their awards. 447 16 Of the Merchant's courts, or office of Prior and Consuls. 451 17 Of the Laws of several countries, whereby the differences and controversies of Merchants are determined. 460 18 Three Paradoxes alluding to the three essential parts of traffic. 477 19 The due commendation of natural Mother Wit. 491 20 Of the ancient government of the Staple. 495 A conclusion to the judicious Reader. 499 AN INDUCTION TO LEX MERCATORIA, OR THE LAW MERCHANT, AND THE antiquity THEREOF. CHAP. I. WHen Almighty God had created man, good and a sociable creature, who could not so well live alone, as other creatures sufficiently provided (by nature) for their sustenance; and had reason assigned and given unto him, above all the said creatures: yet all the means and faculties of his body and soul, were not sufficient to make him happy whilst he was alone. But necessity did require a concourse of men helping one another to supply (with a common strength) the said weakness; for the burden of the said necessity was so weighty and great, that one man alone was not able to manage the same. Then it came to pass, that by mutual contribution of offices, every man did afford means according to his ability for the common good, so that those which were of a strong body did employ their labour to get living and maintenance for themselves and others: And those which were endued with the best part of the soul, as Understanding and Reason, did undertake the most important matters, teaching men how to live well, and informing them of their felicity (which they judged chiefly to consist in virtuous actions) endeavouring to make impression in the soul of man, of certain good laws for the observation thereof, with a reference of them to the first law engrafted in the soul of man, as a part of that divine light, which was infused in him to know (in some measure of perfection) the good and evil, Called by the Grecians Synderisis. and accordingly to receive reward or punishment. As for the other and better part of informing and guiding the thoughts and affections of men to a supernatural end, that, as surpassing the compass of that lower sphere wherein I now move, must be left untouched by me, who here take for my object not the spiritual but the civil life of man and the means thereto conducing. Touching therefore the external part. The mutual contribution of offices amongst men hath from the beginning continued both in labouring and manuring the natural riches of the lands in corn and pasturage, as in the immediate children of our first father Adam, and in planting Vines, and making an extract of the juice of the fruit of them, as Noah. Which riches in matter and foundation natural, and partly also in alteration and managing artificially, every possessor not long after the beginning of the world severally enjoyed in property: and hence did proceed a commerce, first, in real interchange and communication of things of the same or other kinds, but all natural commodities, as sheep for sheep, sheep for corn, wine for oil, etc. between man and man, or nations and nations, according to number, weight, and measure, and after, to avoid confusion, by a common pignus currant mutual, which we call money, both by way of merchandizing; Gen. the most ancient evidence hereof is Abraham's purchasing for money a field for burial. The observation and customs whereof, was the beginning of the Law-Merchant, and that especially when mankind was propagated into an infinite number, and the domestics or near hand commodities were not sufficient for their sustenance in some countries, and in other countries were over abundant: Then of necessity followed the use of trusting, exchanging, and trading; first, on the Land in the main Continent, and then extensively upon the Seas, both for fishing and negotiation. Then did merchants travel from country to country: So in the days of the Patriarch jacob, Gen 37.27. did the merchants Madianits in their journey meet with the children of jacob, and then joseph was carried by their means into Egypt, and sold to Potipher for the good of his father and all his family. And then it was and proved to be true, (which experience hath confirmed) that Vita ciculis in societate posita est, The Law-merchant a most ancient law. societas autem in imperio & commercio: So that it plainly appeareth, that the Law Merchant, may well be as ancient as any humane Law, and more ancient than any written Law. The very moral Law itself, as written by Moses, was long after the customary Law of Merchants, which hath so continued and been daily augmented successively upon new occasions, and was not altogether made in the first foundation, as the Laws whereby the Commonweals of Israel (whose Laws were uniformly made by Moses from God:) or those of Crete, Cybaris, Sparta, & Carthage, by Minos, Charondas, Lycurgus, and Phalcas. Nevertheless, many Emperors and Kings have always referred the ending of differences, which happen between Merchants, to be done & decided according to the Law-Merchant, That is to say, according to the Custom of Merchants; who by their travels found the diversity of weights and measures, and the goodness and use of commodities pleasing to all nations, whereby the superfluities of them were vented amongst them. Vt quod uspiam nascitur boni, id apud omnes affluat. This Law of Merchants, or Lex Mercatoria, in the fundamentals of it, Definition of the Law-merchant. De●epub. is nothing else but (as Cicero defineth true and just Law) Recta Ratio, naturae congruens, diffusa in omnes, Constans sempiterna: True Law is right Reason, agreeable to Nature in all points, diffused and spread in all Nations, consisting perpetually without abrogation: Ius gentium. howbeit some do attribute this definition unto ius gentium, or the Law of Nations, which consisteth of Customs, Manners, and prescriptions of all Nations, being of like conditions to all people, and observed by them as a law: But the matter being truly examined, we shall find it more naturally and properly belongeth to the Law-merchant. Every man knoweth, that for Manners and Prescriptions, there is great diversity amongst all Nations: but for the Customs observed in the course of traffic and commerce, there is that sympathy, concordance, and agreement, which may be said to be of like condition to all people, diffused and spread by right reason, and instinct of nature consisting perpetually. And these Customs are properly those observations which Merchants maintain between themselves, and if these be separated from the Law of Nations, The remainder of the said Law will consist but of few points. Prerogatives of Princes by the Law of Nations. Princes and Potentates by their prerogatives (respecting the law of Nations) do permit amongst themselves a free travelling by land through their several Kingdoms, Territories, and Dominions, unless they be open enemies: They hold likewise a community of the seas for Navigation, as also a distinct dominion of the seas adjoining to the territories and jurisdiction of their countries, they take Custom, Subsidies, and all manner of impositions upon the commodities imported and exported out of their Harbours, Havens, and Ports, as also duties for the fishing in their Seas, Streams, and Dominions; of all which the Merchant is to take especial notice, to avoid danger in the traffic and trade with their subjects, for nonpayment of the same, which they claim iure gentium. Are not the Sea Laws establisted to decide the controversies and differences happening between Merchants and Mariners? And is it not convenient for Merchants to know them? Considering that Merchants maintain the Fishermen, and (by way of Trade) cause the Sea and Land Commodities to be dispersed every where? So that the said prerogaties do also appertain to the Law-merchant as properly inherent unto commerce, and the observation of Merchants being of like condition to all people and nations. Concerning manners and prescriptions, Manners and prescriptions of the law of Nations. wherein the differences is to be noted from the Law-Merchant; the same consist in the erecting of Offices, creating of Officers, and making of Laws, which of themselves make a separation between Customs: Also the giving or bestowing of honours and dignities, the granting of privileges, and the doing of any thing which concerneth the Honour, Body, and goods of any man, whereunto all things touching man have a reference, and do merely belong to the pre-eminence of Princes in their places of Sovereignty. And herein let us observe the difference between Laws and Customs according to the description of the said worthy author Cicero. Difference between Laws and Customs A Custom (saith he) taketh her strength by little and little in progress of Time by a general Consent, or, of the most part; But the Law cometh forth in a moment, and taketh her strength from him that hath power to command: Customs do take place gently; but the Law commandeth with a power suddenly. True it is, that the Law may abolish Customs, but Customs cannot derogate from the Law, because Magistrates will see them executed at all times. Customs have their strength by sufferance; but the Law commandeth by absolute authority of a Prince. And yet Customs are of no less power than a Law, and the difference consisteth most in the manner. Lex est cui omnes homines decet obedire propter multa & varia, & maxim quia omnis lex est inventio quaedam & donum Dei. All men ought to obey the Laws, which are many and diverse, and chief because all Laws are (as is it were) an invention and a gift of God. So much, yea more may be said of the Custom of Merchants, because of their continuance and Antiquity, as aforesaid. And for that the said customary Law of Merchants, hath a peculiar prerogative above all other Customs, The Prerogative of Merchant's Customs above all other Customs. for that the same is observed in all places, whereas the Customs of one place, do not extend in other places, and sometimes they are observed, and sometimes they are neglected. But the Customs of Merchants concerning traffic and commerce, are permanent and constant, and when they are not truly observed in some places, by some error or misprision: Non est consuetudo, sed usurpatio; For such Customs lose their names, and are called Usurpation, which is the cause that many times Customs are established for Laws by him or them that have power to make Laws. And Customs are the best Interpreters of the Laws, Customs are the best interpreters of Laws. either for suppressing of vice, or establishiug of Virtue: So that whosoever allegeth a Custom in his defence, is to prove and maintain the same, if it be honest. Now we must not understand this of any evil Custom, because they make no precedents, and are to be supressed by Laws. Likewise a Custom well observed, is to be preferred before a Law not observed. A Gradation concerning Laws and Customs. And this Gradation ought to be maintained and seriously observed concerning Laws and Customs, That even as the Wills, Contracts, or Testaments of particular men, cannot derogate or undo the Ordinances of the Magistrates, and as the order of the Magistrates cannot abolish ancient good Customs nor Customs cannot abridge the general Laws of an absolute Prince; no more can the Law of Princes alter or change the Law of God and Nature. Bartolus, Baldus, justinian, Ulpian, Paul the jurisconsulse, Papinian, Benvenuto Straccha, Petrus Santerne, joannes Inder, Balduinus de Vbald, Rodericus Suarez, jason, Angel, Andrias Tiraquell, Alciatus Budeus, Alexander Perusius, Pomponius, Incolaus Boertius, Azo, Celsus, Rusinus, Mansilius, Sillimanus, Accursius, Franciscus Aretinus, Grisogonus, Lotharius, julianus, and diverse other doctors and learned of the civil Law, have made many long discourses and volumes of books of the questionable matters fallen out amongst Merchants, for and concerning merchandise, Book cases of the Law-Merchant. which are yearly observations or book cases and precedents; by the reading whereof, Merchants are like rather to metamorphize their procession and become lawyers, than truly to attain to the particular knowledge of the said Customs or Law-merchant: For they have armed questions and disputations full of quillets and distinctions overcurious and precise, and many of them to small purpose, full of Apicis iuris, Apicis iuris what they are! which themselves have noted to be subtleties, saying, Apicis iuris s●nt quae subtilitatem quandam respiciunt magis quam facti veritaetem, They do more regard certain subtleties than the truth of the fact or matter, As for example. To define Quid s●● Mercator, what a Merchant is? Quidue Mercatura, what Merchandising is? Whether he is a Merchant that doth once buy and sell? Wherher merchandising and negotiating be one and the same? Whether an usurer be a Merchant? Whether selling by retail shall be called merchandising? Whether a Clergy man or a Gentleman dealing in buying and selling, shall be called a Merchant in any controversy? Wherein a Merchant may be like an usurer? Whether a man buying commodities in gro●●e, and working the same out again into other things to be vented by an ordinary course of traffic, be a Merchant, artificer, or tradesman? Whether a seller of horses may be called a Merchant? Whether a shopkeeper trading beyond the seas and at home, be a Merchant? Whether a Merchant shall be called to be a Merchant of one kind of commodities, that dealeth for diverse sorts of merchandises or wares? Whether he be a Merchant that dealeth not for himself: but others negotiate for him? Or whether a young man dwelling with a Merchant, may be a Merchant? And other the like questions which I hold to be unnecessary to trouble Merchants brains withal. The definition of a Merchant is to be noted. Definition of a merchant. For he that continually dealeth in buying and selling of commodities, or by way of permutation of wares both at home and abroad in foreign parts, is a Merchant. Next in order, Conditis numeri p●tioris, 〈◊〉 mai●ris. the conditions and properties which a merchant ought to have, are to be considered; namely to be without fraud and deceit in his buying and selling of commodities, and to keep faith with all men. Hereupon questions are made, whether a merchant may traffic with Turks, Heathens, Barbarians, and Infidels, and perform promise with them? whether a merchant may sell his commodities as dear as he can, without respect of persons? whether he may use lies (as being officious) in the selling of commodities? Caveat emptor. whether he may be crafty without deceit? whether learning be requisite in a merchant? whether he may deal in prohibited commodities at his peril? whether a merchant buying commodities, and selling them better cheap than they cost him, shall be held in suspicion to be near decaying? and the like of him that taketh up much money at interest. The continuance of a merchant. The said Civilians have also determined how long a merchant is to be so called; which is either when he breaketh, or giveth over to deal in merchandise; or when he is prohibited to deal, for offences committed. And hereunto they add a declaration of such as may trade; and by the contrary thereof, is to be understood who may not trade, Persons exempted to be merchants. viz. Clergy men, Noblemen, Gentlemen, Soldiers, Counsellors at the laws both Ecclesiastical and Temporal, public officers and magistrates, frantic persons and mad men, youths under years, orphans, lunatics and fools, all these are exempted to be merchants: But sons and servants may deal in merchandise with their fathers and masters. What merchandise is fit for trade, Lastly, they have observed, That merchandise is properly to be made of all movable things, excepting holy things, and prohibited wares, or munition to be carried unto infidels or enemies. All which determinations can give but little satisfaction to instruct merchants. Merchandise two fold. Plato sayeth, That merchandise is two fold, namely, ad victum & vestitum, of things for the back and for the belly, as belonging to the body of man; and of things concerning the mind of man, as learning of music, and other arts bought for money, and sold again to others for money; and this distinction is in regard of man, but fare from that matter of traffic and commerce which is comprehended under Commutative justice, whereof Cicero speaketh. Let us therefore set down, what a complete merchant ought to know concerning the course of merchandising, and withal declare the method observed in this book of the Law of Merchants. The method of this book. 1. A merchant ought first to know the science of Arithmetic, and to observe the days and times in all his negotiations, and the beginnings of the year in all countries, and to calculate all things orderly. 2. The several weights and measures of all countries concerning all commodities, and the correspondence of them, that there may be to him in effect but unum pondus, & una mensura, that is, one weight, and one measure. 3. The science of Geometry, and some inspection of Cosmography, and the Mathematics, thereby to know the situation of countries, with their distance and spaciousness: and the distinct dominions of Princes by land and by sea, with their jurisdiction and duties for fishing and otherwise. 4. To know the three Essential parts of traffic, being Commodities, Money, and Exchange for money by Bills of exchanges; under which all the traffic and trade is performed in all countries, or by some of them, because they are the causes of commerce, whereof the effects are buying and selling of commodities, receiving and paying of monies, and delivering and taking of monies by exchange, with their Adjuncts and Accidents in the said course of traffic. 5. To know also the goodness of the principal commodities of all countries, either superficially for colour and beauty; or substantially for quality and use. As also the weight, fineness, and valuation of the monies of all countries, with the proportion between the gold and silver, and the manner of exchanges made by bills upon the imaginary monies invented to make exchanges between country and country. 6. The customs used in the buying and selling of commodities for money or bills obligatory, or by way of Commutation or Barter. 7. The delivering of monies at interest, or upon Botomary, or upon lives, annuities, or pensions in nature of rent, etc. 8. The freighting and setting forth of Ships, making of Charter-parties, Bills of lading, Invoice, and Covenants and contracts. As also the sea laws, to decide all questions and controversies which fall out between Merchants and Mariners, and owners of Ships. 9 The customs, subsidies, impositions, tribute, and tolles paid upon all the commodities imported and exported, within the dominions of all Princes. 10. The manner of making of Assurances upon goods, ships, the persons of men, or any other things adventured by sea or by land; and the customs observed therein between nation and nations. 11. The keeping of Merchant's accounts, by Debtor and Creditor, and the calculation of the diversities of money, whereby the said books of account are kept. 12. The authority and proceed of Merchant's Courts, or Priors and Consuls, to decide their differences according to equity in places where they are kept, or any other laws imperial or common to some countries, whereby Merchants controversies are determined; with the course of attachments and sequestrations, or executions and final determinations by arbitrators, or judicial decrees in any Chancery or Court of Equity. All these (making the customary law of Merchants) have never been written by any Civilian or Philosopher, The customary Law of Merchants. nor for aught I know, of any author, as is convenient for Merchants; whereupon I have (with God's assistance) resolved to handle the same compendiously and substantially in this book, upon fifty years observation, knowledge, and experience. And albeit that the sea laws are comprehended therein, whereby the proceed might seem to be promiscuously handled, nevertheless the method is followed as near as the matter could afford, according to the said three Essential parts of traffic, or the three Simples of commodities: Money, and the Exchange of money by Bills of exchanges, as hereafter may appear. And this Law of Merchants hitherto observed in all countries, aught in regard of commerce, to be esteemed and held in reputation as the Law of twelve Tables was amongst the Romans. For herein you shall find every thing built upon the foundations of Reason and justice: and knowing the foresaid twelve points, you shall be able to please your own mind, and give satisfaction of your sufficiency to others. For the saying is true, Melius est Civitatem, ab optima lege, quam ab optimo viro gubernari, It is better to govern a City by a good Law, than by a good man. And it is better for a man to be ruled by Reason, than by his own Reason to seek to rule others. Finally, to give satisfaction to the learned and judicious, I have abstracted the observations of the learned in the Civil Laws, upon all the precedent points, and added them unto the following Chapters, distinctly from the Customs of Merchants; using the ordinary name of Civilians in general, without naming any particular Author, to avoid ambiguity and uncertainty in the Contents of this Book, divided into three parts, according to the said three Essential parts of Traffic. CHAP. II. An observation concerning TIME. ALL men of judgement and understanding do know, that there is nothing more necessary for the knowledge of Histories, and diverse estates of the world, than the observation of Times, without which, great obscurity and errors will be found in the Actions of men, aswell in matters of Religion, as in civil government, where Merchants (in regard of their Traffic and Commerce) have the managing and disposing of the wealth of Kingdoms and Commonweals: So that it behoveth them, to observe the years, months, weeks, Merchants are to observe Time. and days, and (sometimes) the hours of their negotiation, with the course of the Moon, and the ebbing and flowing of waters, the variation of winds, and alterations of weathers, for storms at the seas, and unseasonable Times on land, whereby the harvests do fail, and commodities become to be plentiful or scarce, and the prices thereof dear or good cheap: with many other considerations incident in the course of buying and selling of commodities, and in receiving and paying of moneys. To make a definition of Time, will (in one respect) be very difficult, if we consider, that Time is inseparably conjoined with Eternity: But if we observe the attribute of Time, and do distinguish things orderly, we shall easily perceive what Time is, and make use thereof. The attributes of Time. Time is the consumer of all things, Tempus edax rerum. Time is the discoverer of all things, Veritas filia Temporis. Time is uncertain and wanteth bounds, Tempora mutantur etc. Time's minutes past, no treasure can restore, Irrevocabile Tempus. Time doth pierce the hardest flint, Gutta cavat lapidem, non vi sed sepe cadendo. Time hath a salve for all extremities, and yet begetteth usury. Time's office is to end the hate of foes. Time's glory is to calm contending kings. Time is a tutor both to good and bad, and doth discover the affections of the mind. Time offers still each hour to do amiss. Time breedeth grief, and heals when Art doth fail. By Time and Wisdom passions are suppressed. In Time small wedges cleave the hardest oaks. Time is the Anchor both of Truth and Right. Time hath set down the compass of his course. Time's motions do equal the reeling Sun. Time measureth our actions. Time is the best governor of all our counsels. Time on the weariest wretch bestoweth rest. Both Life and Love in Time must have an end. Many more attributes may be bestowed upon Time. But we shall find upon due consideration, that Time is but a distinction and measure of all things, and between all things. Concerning the revolution of Time, let us observe, That even as God the Author and Conserver of all things in a comely and decent order, The revolution of Time. hath appointed a succession and progress of Time, for accomplishment of the natural course thereof: So hath he appointed certain Periods and Revolutions of Time, wherein things return to the same, or like estate wherein they were before. As we see in the motions of the Heavens, and consequently in the seasons of the year, all which are measured by Time. The Sun, the Moon, and the Stars, to have their particular and distinct revolutions, wherein they accomplish their courses, and return after a limited and determinate space of Time to the places from which they did departed. The Sun completing his course and Revolution in 365 days, and almost six hours, or a quarter of a day, as shallbe declared, which is that space of Time, which we call the year, termed Annus, qui Annulus, Annus quasi Annulus. taking the similitude from a Ring; which caused the Egyptions to make the figure thereof in their Hierogliphics like unto a serpent biting his own tail. The Moon by her Revolution in the Sphere in 28 days, or thereabouts, determinates unto us the months, as the Sun doth the days and hours. Saturnus the Planet maketh her Revolution in 30 years. jupiter in 12. years, Mars in two years, and Venus and Mercury in 360 days, or thereabouts. The fixed stars have also their peculiar Motions and Revolutions: The knowledge of all which, is both pleasing and necessary unto judicious Merchants. And because Time is subject to be numbered by Ages, Years, Months, Days, Hours, Minutes, and their divisions and subdivisions, we cannot in this place omit to particularise concerning the same; albeit it may be thought inconvenient to touch the observation of the period of Monarchies and Commonweals, Periods of Monarchies & Commonweals. made by some Authors, which (by many important reasons) may be amplified. Some distribute the whole ages of the world into three parts, ascribing to every age 2000 years, which proc●edeth from that common opinion of Elias a certain Rabbin or jew, affirming that the world should stand 6000 years, and then be dissolved; of the which they reckon 2000 years, before the Law, 2000 years, under the Law, and 2000 years, under Christ, which shallbe shortened for the elects sake; which opinion hath been recevied, by diverse godly fathers, supposing that as the world and all things therein, was created in six days; So the same should endure 6000 years, taking each thousand years for a day, according to the saying of Saint Peter. 1. Pet. 3. That one day before the Lord is as a thousand years, and a thousand years as one day. In this supputation is some reason; for from the beginning to Abraham with whom the first covenant was made, and to whom the law of circumcision was given; we find to be near 2000 years; Of the ages of the world. and likewise under the law, until Christ, about 2000 years; and now under Christ is above 1620 years, reckoning towards the last 2000 years. Augustin writing of these ages, divideth them into six, and reckoneth the first age to be from Adam to Noah; the second, from Noath to Abraham; the third, from Abraham to David; the fourth from David to the captivity of Babylon; the fifth, from the Captivity to Christ; the sixth and last, under the kingdom of Christ until the end of the world. Others there be that do distribute the same into four, according to the nature of four kinds of metals, the Golden, Silver, Brass, and Iron Ages: alluding to the Prophecy of Daniel, of the four Monarchies. Others do account, the same by thousands, or millinaries, according to certain observations of 6000 years in the alterations of things. Others do calculate according to the ages of men, supposing 100 years for an age; and so now being 56 ages and more, the number 60 or before the end of the world shall come. But, let us observe the true computation of the Church most generally approved hitherto, Computation of ages by Scripture. and reckon from the Creation until Noah, 1656 years when he entered into the Ark; and from the Floo● to Abraham, 367 years; and from the departing of the Israelites out of Egypt, 430 years; and from the departing to the building of the Temple by Solomon, 430 years; and from that time to the eleventh year of King Zedekiah (deduced by Scripture) is 427 years. So the whole sum of these years cometh justly to 3360 years. Hereunto 70 years being added of the captivity of Babylon, is, 3430 years, which are 790 sabbatical years, of seven years every sabbatical year, without any odd number; and from that time until Christ, there is no momentary difference by Historical account, whereof understanding Merchants ought to be informed, & all men take pleasure of this observation in their Almanacs. From the Creation of the World, A●no Dom● 1620. until the last year— 5582. From the said Creation until the Flood— 1656. From the said creation, until the Birth of our Saviour Christ— 3962. Since Brute did enter the Island of Great Britain— 2727. Since the building of the Temple by Solomon— 2649. Since the building of the City of Rome— 2371. Since the captivity of Babylon— 2258. Since julius Caesar was slain— 1669. Since the Birth of our Saviour Christ, until the last year— 1620. Since the Conquest of England, by Duke William— 553. Since the beginning of the reign of King james, the first of that name of England, until the 24 of March 1620, is 17 years complete, but currant— 18. Concerning the year, there are many observations, Of the several beginnings of the year. and even of the several beginnings of it. And let us note Obiter that the body (the soul of man consisting in the blood) hath 365 veins, as residences agreeable to so many days of the year. All our Almanacs or Calendars begin the year from the first day of january, albeit this beginning differeth in many other countries, which is convenient for Merchants to observe. The Astrologians begin at the entrance of the Sun in Arijs, which is the 21 of March, at 12 of the clock at noon. The old Romans did begin their year, ab Hieberno solstitio. The Egyptians and old jews, from the 21 of March, with the Astrologians. Those of Asia and India, ab aquinoctio Autumnali; being the 23 of September, at 12 of the clock at noon. The Grecians of the longest day of the year. The Venetians of the first of March. The Spaniards from the Annunciation of the Virgin Marie, the 25 of March, as England, Scotland, and Ireland. The Portugals and the East-Indies, Barbary, Preste-Iohn, the 29. of August. Moses by God's commandment, ab equinoctio verno, which is Easter; according to which, Easter day. Easter day was ordained upon the full Moon, being the foureteenth day of the first Moon, after the Sun entered into the sign of Aries, which is also used in Egypt. Afterwards in the year of our Lord 328, the Council of Nice did ordain Easter day always to be upon the Sabbath day, or Sunday next after the full Moon. And the Bishop of Alexandria made thereupon a list, according to the Circle or Golden number of the Moon, beginning from the figure 1, until number 19; for that in 19 years the Moon maketh her complete revolution, & concurreth with the Sun: And if the number did fall out upon a Sunday, than the Sunday after was Easter day, The List appointed for Easter day. according to this abstract; which is now altered by ten days, upon the alteration of the Calendar by Pope Gregory the 13. Golden number● 1. The 5 of April. 2. The 25 of March. 3. The 13 of April. 4. The 2 of April. 5. The 22 of March. 6. The 10 of April. 7. The 30 of March. 8. The 18 of April. 9 The 7 of April. 10. The 27 of March. 11. The 15 of April. 12. The 4 of April. 13. The 24 of March. 14. The 12 of April. 15. The 1 of April. 16. The 21 of March. 17. The 9 of April. 18. The 29 of March. 19 The 17 of April. Revolution of the Sun and Moon. The year being exactly calculated according to the course of the Sun, or Revolution in the Zodiac through all the twelve Signs, consisteth of 365 days, 5 hours, 49 minutes, and 16 seconds. And the revolution of the Moon in her going course is 27 days and about 8 hours, and in her returning course about 29 days and one half, called a month. Others have used, and some yet do use, the years of the Moon divided in 12 months, every new Moon or course respected: And this year consisteth of 354 days, 8 hours, 48 minutes, 43 seconds, and 12 tierces, to which there was added 11 days called Aepacta, The Epact of 11 days added Quaere tamen quando incaperint. as adjoined days; which made the year to be 365 days and about six hours, as aforesaid: which was used before the flood, by jews, Greeks', and is yet at this day used by the Mahometans, Arabians, and those of Feas and Morocco and other places. The Babylonians, Egyptians, and Assyrians, have also observed 365 days for the year; One wholeday added every fourth year in february. But they did not add every fourth year one day, which we call the Leap-year. To make a better explanation hereof, let us note, That there is a great Circle imagined to be in the Heavens, called the Ecliptic, whereupon the Sun hath his continual motion or period, never declining from the same: and on each side is imagined to be another lesser Circle limiting the latitude of the Zodiac, The Ecliptic of the Zodiac the middle whereof is called the Ecliptic, for that whensoever there shall be a conjunction or opposition of the Sun and Moon, the Moon being upon the same Ecliptic, over which she passeth twice in one Period, in so many days as aforesaid, (which second sections are called the Head & Tail of the Dragon) then (if at the conjunction) is our sight eclipsed by the interposition of the body of the Moon, being (at the same instant) betwixt us and the Sun, Eclipse of our sight by the Sun. thereby hiding some part of his light from our sight: yet hath the Sun in himself no more loss of light, than if a man should put a ball betwixt my eye and the Sun, whereby he might hide from my sight, either the total or part of the body of the Sun. But if it be at the opposition, than the Moon doth indeed lose her total light, or part of her light, according to her latitude; for if her latitude be more than the Semidiameters of the body of the Moon, and the shadow of the earth, than there can be no Eclipse at all. When no Eclipse of the Moon can b●. But whensoever the body of the earth shall be interposed or put betwixt the light of the Sun, and the body of the Moon, (which cannot be but a full Moon or opposition, 'Cause of the Eclipse of the Moon. which are both one) then must she of necessity lose so much of her borrowed light, as the earth doth take away from her. Within this imagined Circle or Zodiac are twelve constellations of Stars, called the 12 Signs; each of these Signs is divided into 30 degrees or equal parts, which make 360 in the total. Now since the nature and qualitle of these twelve Signs were found, and that the Moon being the lowest of the Planets, doth convey and transport their operations and force through her Orb unto all Elemental Creatures, causing alteration of change and humours, times and seasons, and distemperature of bodies; Man's body is divided according to the Zodiac. the ancient Astronomers have attributed unto them certain names of creatures, figures, and poetical allusions, for distinction sake, and to declare their property in some weak and confused sort. Also the number 19 called the Prime and Golden number, because it was written in Golden letters for the utility thereof, which deserveth the more so to be adorned with Gold for a perpetual remembrance of our noble King james and his royal issue, borne upon the 19 day of several months, which is not without some mystery, as I think. The 19 of june Ann 1568, The Golden number of king james and his royal issue. King james was borne in Scotland. The 19 of February Ann 1594, Prince Henry (deceased) was born, and died before 19 years. The 19 of August Ann 1596, the Lady Elizabeth his daughter was borne. The 19 of November An. 1600, Prince Charles his son was borne, Deo gratias. It may seem strange, that julius Caesar did not observe this number of the meeting of the Sun and Moon upon this Period, when he made his Calendar 44 years before Christ; for the use hereof began in the year of Christ 532. Cycle of the Sun is 28 year. And this number of 532 containeth 19 times 28, in which time of 28 years (being the Cycle of the Sun) the same is multiplied by 19, which is the Cycle of the Moon. The Dominical letters. The Dominical letter is according to the noting of the seven days of the week, according to the Cycle of the Sun, beginning from A.B.C.D.E.F.G. and so returning and continuing for ever. Dieurs beginnings of the day. The day doth also begin diversely: The Astrologians or Astronomers begin the same from one midday (or noon) until the next, being 24 hours by the clock; which is the cause that in their Almanacs they do set down always the place of the course of the Moon, being so many degrees at noon; howbeit we reckon 12 hours; France Spain, and other places, the Venetians, and most towns of Italy, the Bohemians, Athenians, Egyptians, some jews and Grecians, Poland and Silesia from the setting of the Sun until the next setting, 24 hours. Babylonians, Persians, Chaldeans, some Hebrews and Greeks', old Romans, and they of Wirtenborough and Norenborough, from one rising of the Sun to the other, 24 hours. Calends, Nones, and Ideses. The days of the month are also noted by Calends, Nones, and Ideses. The first day of the month was Calend, so called of Vocato Populo, declaring how many days it was to the Nonas, that all the people was to assemble in the city, to know what was commanded unto them by the Temporal and Spiritual laws, as being noue obseruationis initium, or nono, as the ninth day from Idus. The Tuscans heretofore did homage to their king that day, and then it was commonly new Moon, and Idus was the full Moon, upon the Moon months, being March, May, july, and October, being of 31 days, which had six Nonas, whereas the other 8 months have but 4 Nonas, and every month 8 Idus. Indictio Romana. Indictio Romana, whereby many histories account their years, was instituted when the Romans had dominion over the greatest part of the world, because upon every Lustrum, which was every fifth year, every one was to pay tribute unto them. The first year they did bring Gold, the second Silver, the third year Iron for munition and armour: So that it was the space of 15 years, beginning from the 25 of September. And at the birth of Christ it was Indictio 3, and falleth out in the year of 1620 to be also Indictio 3, according to which observation the calculation of some historical years is made. That the Roman Calendar may easily be reform without the Alteration of ten days, made by Pope Gregory the 13. IVlius Caesar the first Emperor of Rome, a man learned and of great magnanimity, considering that the Roman years were reckoned confusedly according to the course of the Moon, & by the Hebrews with their intercalar month, to make the same agree with the Sun: By the counsel and instigation of Sosigenes, an expert Mathematician, about 44 years before the Birth of Christ, devised a new fo●me of Calendar, first framed after the course of the Sun, dividing the whole year into three hundred sixty five days, and six hours, making it to contain twelve months, whereof the names are yet in use; beginning from March for the first month; which caused September, October, November, and December, to bear their names the seventh, eightth, ninth, and tenth month; yet all years by the Almanacs putttng januarie for the first month, beareth the name accordingly from the Heathen god janus, painted with two faces, as it were beholding the year past, and the year to come. February was so called of certain sacrifices then offered, called Februa; March, of Mars, an Heathen god; April, the denomination of the months. of the Spring Time, and the word Aperio, opening all vegetibles and other things; May, of Maya the mother of Mercury; june, a juniore, for that all the young people had a meeting in that month for recreation; july, of his own name julius; and Augustus, for the enlarging of the Empire. Now forasmuch as the odd six hours, could not conveniently be brought to account every year: he ordained that every fourth year one day should be added to February, because four times six hours maketh up a whole day of four and twenty hours, and the year wherein this odd day falleth, The Leap year. we call commonly Leap year, having three hundred sixty six days. And because it was added at the six Calends of March, it is named in Latin, Bissixtus, or Bissextilis Annus. Nevertheless julius Caesar did begin his Calendar in januarie, when the Sun entereth the eighth degree of Capricorn, eight days after the winter Solstitium, Solstitium. which then being the shortest day of the year fell upon the twenty five of December. And the Spring Time Equinoctium, about the twenty five of March. Equinoctium. The which places of the Sun are now changed and sliden back in the julian Calendar, from the said observation of the Spring Equinoctium, as also from the Harvest Equinoctium (being about the twenty six of September) the longest day then falling out the twenty five of june, grounded upon this reason of prevention of the Equinoctial to the twelfth, eleventh, and tenth days of the said months, and the thirteenth and fourteenth of September: But the chief cause proceedeth by reason that julius Caesar did reckon the year to continue three hundred sixty five days, and six hours; which is more than the just Astronomers calculation by ten minutes of an hour, and forty four seconds, accounting sixty minutes to an hour, and sixty seconds to a minute: so that the year truly containeth three hundred sixty five days, five hours, forty nine minutes, The difference as the account of years, for the error. and sixteen seconds, as is before declared, which difference in the space of one hundred thirty four years or thereabouts, maketh one whole day; and in the space of one thousand six hundred sixty four years, being the time that the julian Calendar was set forth, until the last year, it cometh to twelve days, twenty two hours, forty minutes, and twenty five seconds. For this cause sundry learned men have heretofore desired that the same may be reform, to avoid inconveniences, and to have a true account of years and days. And the matter was propounded to diverse general Counsels, but took no effect, till now of late years, by means of Pope Gregory the thirteenth, in the year 1582, and then it was permitted to one Aloysius Lilius, (professor in Mathematic Astrology) to set down this long desired Reformation; who being resolved to do the same exactly by true account, was hindered by the Clergy, for they would not agree that the same should be drawn back any further than to the time of the Nicene Council, which was in the year 328: and hereupon he brought the reckoning back only ten days, & caused the fifteenth day of December to be called the twenty five day, Alteration of ten days, and the inconveniences. which is but observed in some places, and brought great controversy in diverse countries: seeing the day of the Nativity of Christ, and other Festival days, and also days of keeping of Fairs and Markets, are changed and holden ten days before the accustomed time. And Merchants and others in making their Contracts and Obligations are often disappointed of their days of payment, with diverse other inconveniences. Whereas men of true judgement, might have made this argument: Is it by the addition of Time, growing by certain minutes and seconds every year, arising to one whole day every fourth year, in the month of February? Then, as it is increased thereby thirteen days in one thousand six hundred sixty four years, it may by the same Rule decrease so much in few years, A true and good reformation of the julian Calendar. by leaving out, and suspending that one day, which is so added, until it come to his first institution and calculation of the julian Calendar; which may be reform in fifty two years, beginning from the year 1620, being Leap year, and leaving out thirteen days, which is little more than one hour in the said, and is no perceptable difference; and after the said fifty two years expired, to add the said day again, and there will not increase any one day more, but in one hundred thirty four years. And all the yearly observations may be accommodated accordingly. I made an exact Table hereof, in the year 1604, whereby the day of the Nativity of our Saviour fell out again to be the shortest day of the year. This Table was showed unto the King's Majesty of Great Britain (as I was informed) and howsoever pleasing, yet for some causes to me unknown not held fit to be established. CHAP. III. Of NUMBER, and the Mysteries thereof. Unity is the Spring and Fountain of Numbers, which hath a reference unto God, the only fountain of Goodness, the only Father, Creator, and preserver of us all. Hear let us note, that the Philosophers have not only (with one consent) affirmed, That great mysteries and virtues are contained in numbers. But the ancient Fathers have also observed the same in the holy Scripture; as Jerome, Augustine, Origen, Ambrose, Basil, Athanasius, Hilarius, Rabanus, Beda, and others; amongst whom Doctor Rabanus hath made a book of the virtues which are hidden under Number. And if there were no mystery comprehended under Number, Saint john in the Revelation would not have said, He that hath understanding let him reckon the Number of the name of the Beast, Vie●ius generalis Dei, in Terris. D. C. L. V V. JIIIII. which is the number of a man, speaking of Antichrist in the days of the Emperor Domitian, the tenth persecutor of the Christians, and the twelfth Roman Emperor, when the Latin tongue was most frequent, although he did write in Greek, which number was 666 by significant letters. Now, as one is no Number, but unitas; so there is but one God, one World, one Sun, one King of Bees, Vnitas. and leader amongst Cattles. Number Two, is the first offspring of unity, not composed, but in society united, called the Number of justice, wherein many things are observable. The Two Tables of the Law; Duclitas. Two Cherubins upon the Ark of Moses; Two Testaments; Two great Lights; Two Natures in Christ; Two Solstices; Two equinoctials; Two Poles, and many other things. The Number Three is called Holy, and Tria sunt omnia, Trias. as the Philosopher faith, which diverse also do acknowledge to be of great efficacy in all things; whereof Pythagoras, Virgil, Plini●, Aristosle, Trimegistus and others, have written copiously; the glory of all belonging to the three persons in the Godhead, with the virtues of Faith, Hope, and Charity. 4. & Quivarias. In the figure of Four many things are to be noted, as the Four Elements; the Four original Winds; the Four Seasons of the year, etc. So of the Number Five, being the Medium of Ten, which in Number figurative climbeth no higher, without doubling in Letters or Figures, having this property, D●narius. that take nine from ten, there remaineth one; take eight, there remaineth two; take seven, there remaineth three, and six remaineth four: All which remainders added together, make again the Number Ten, whereof the Number Five is equidistant. To speak of the five Senses, five fingers and toes, five sorts of creatures, and other dependences, would be tedious. The Number Six is not void of the like applications: but no number more used in holy Scripture (as perfect and complete) than the Number Seven, Numerus mag●a persectionis & virtutis. called Sacred, because God rested the Seventh day, and did bless and hollow the same. It was ordained in the Law, that amongst the people of God, every Seventh year should be held holy, wherein the land should rest from labour, and that liberty should be given unto servants, and be called a year of Rest unto the Lord. And by the like reasons it was instituted, Sabbathecall years. that the Israelites should number unto them seven Sabbaths of years, containing 49 years, and immediately in the beginning of the 50 year following, jubilee year. the trumpet of a jubilee should be blown the 10 day of the Seventh Month. The sacrifices for the most part were offered by Sevens; the great feasts of God's people lasted Seven days, and they did eat Seven days unleavenned bread at the Passeover; Seven weeks were reckoned between the Passeover and Pentecost, and most of the feasts were in the seventh Month. In a figure also did the Ark of Noah (which was a figure of Christ) rest upon the Mountains of Ararat in the seventh Month: likewise it is said, Wisdom hath builded her house with seven Pillars, understanding the Church, with the gifts of the Spirit, which are figured by Seven burning Lamps, and by Seven graved Candlesticks; The Stone mentioned by Zachary (which is Christ) hath Seven watching eyes of God; and the Number Seven so often used in the Revelation of john. To say nothing of the Seven Planets running their courses; and amongst the fixed Stars, the Seven called Pleyades, and other Seven, Hyades; and the two Polar Images, called Vrsa Maior, & ursa Minor, contain each seven Stars; and many other observations of the said Number Seven may be noted. Some observations there are of the Numbers Eight and Nine. And for the Number Ten, notice is taken of the Ten Commandments; Ten Curtains in the Temple of Solomon; Ten Strings upon the Harp, Ten Musical Instruments, and diverse other particulars. The Number Twelve hath very great use and concordance in the Scripture: the 12 Tribes of Israel, whereof 12 Stones were placed in the River jordan, and so many precious Stones upon the breastplate of Aaron; so many Loaves offered; so many Altars builded, and so many Lions under the brazen Seas; so many fountains in Helim, & so many men sent into the land of Promise; hereunto allude the Twelve Apostles, Twelve thousand Nations marked, Twelve Stars to crown the Queen of Heaven, Twelve Baskets of bread gathered, Twelve Angels, and so many gates and stones of the heavenly jerusalem; omitting to speak of the Twelve Signs of the Zodiac, and many other particularities touching the coherence of this number. Let us note, Indians account of Time and Number. that some Indians and Heathen people at Guiana have no division or account of Times and Number, they only reckon by the moons, as one, two, three, four, or five months; or by days in like manner: their numbers they reckon thus, one, two, three, and so to ten; then ten and one, ten and two, and so forth. And to show their meaning more certainly, they will demonstrate the same by their fingers, still making signs as they speak: and when they will reckon twenty, they will hold down both their hands to their feet, showing all their fingers and toes; and as the number is greater, so will they double the sign. And when they appoint or promise any thing at a limited time, they will deliver a little bundle of sticks, equal to the number of days or moons that they appoint, and will themselves keep another bundle of the like number; and to observe their appointed time, they will every day, or moon, take away a stick, and when they have taken away all, than they know that the time of their appointment is come, and will accordingly perform their promise, which may be a precedent to many Christians. Thus much may suffice to have noted concerning Number, and the coherence thereof with Time. Now whereas God by his divine providence hath made all things subject to Number, Weight, and Measure, let us in the next place entreat of weight and measures. CHAP. FOUR Of WEIGHTS and MEASURES used in all places of the world, with other observations. Having entreated of Time and Number, The manner of Weights. wherein and wherewith God doth govern all things according to his determinate will and pleasure: Now in order let us handle the description of Weights and Measures, whereby all worldly things are disposed of: which is most necessary to be known, to give every man his own, and to buy and sell by; according to which all contracts and agreements between man and man (in the course of Traffic and Trade for all commodities) are made, to distinguish Meum and Tuum, by the Law and otherwise, according to common consent of all Nations. All WEIGHTS are divided into three sorts. FIrst by the great number, that is to say, by Hundreths, kintals, Centeners', Talents, Thousands, Weighs, Skipponds, Charges, Lispounds, Rooves, Stones, and such like. The second fort of Weights, is by Pounds, Mina, Manes, Rotulus, etc. The third division of Weights doth consist in the smaller divisions of 12, 14, 16, 18, 20 and 30 ounces to a pound, and the subdivisions thereof. The Talon of the Grecians 60 Minas, Talentum. every Mana 100 Dragmes, so a Talon is six thousand Dragmes, 8 of them to one ounce is 750 ounces. Another Talon of Greece is 16 Sestertios, being 40 Minas or Pounds of 18 ounces, as also of 20 ounces. In Egypt it was 32 Sestertios or 80 Pound. The 50 Sestertios of Cleopatra are 125 ll. In Thratia 48 Sestertios being 120 Pounds. In Africa 24 Sestertios are 60 ll. differing also in the pound weight. Cantar or Kyntall. Cantar or Kyntall, or Centener, called hundreths of 100, 112, 120, 125, 128, and 132 pounds. The Hebrews did call Cicar to be 50 Minas or Maneg. Weighs. Weighs are commonly 165 ll, or 180 ll, or 200 1/● for acharge. Skippound. Skippounds of 300, 320, 340, and 400 pounds the Skippound. Lyspound. Lyspounds of 15 and 16 pounds to the Lyspound. Rooves. Rooves or Arrobas of 10, 20, 25, 30, and 40 pound to the Roove. Stones. Stones of 6, 8, 10, 14, 16, 20, 21, 24, and 32 ll, and also 40 ll, as more particularly appeareth hereafter in their proper places. Mixias. Mixias are also used, whereof we find mention made in some books, is ten thousand, and is commonly understood for 10000 Dragmes of 8 to an ounce, and 12 ounces to the pound. Marks. Bess. The pound is also divided by Marks of 8 ounces, and Bess of 12 ounces; every ounce was amongst the Hebrews 2 Sicles, or Stater. Sicles. St●ter. Gerag. Siclus is sometimes taken for an ounce, also half an ounce, and quarter of an ounce, which is Gerag, or Obolus. Mina Ptolomaica is 1 ½ Rotulus which is divided into small parts, viz. 18 ounces, of 12 to one Rotulus 144 Dragmes, of 8 to one ounce. 432 Scruples, of 3 to a dram. 846 Obulus. 1296 Lupes. 2592 Siliquas or Carrats. Inna or Maa●g. Mina of the Grecians, otherwise called Inna or Maneg, is a pound. 12 ½ Ounces. 25 Staters or Ciclos. 100 Dragmes or Rosoli. 300 Scruples, 24 to an Ounce. 600 Obolus. 900 Lupins. 1800 Siliquas. 3600 Areola or Chalcos. Rotulus in Arabia, Syria, Asia Minor, Egypt, and Venice is 1 ll. 12 Ounces or Sachosi. 24 Septarios or Cicles. 84 Deniers of 7 to an Ounce. 96 Dragmes or Darchiny. 288 Scruples or Grana. 576 Obolus or Orlossat. 864 Danig. 1728 Carrats or Siliqua. 6912 Kestuff. The 7 Deniers make an Ounce, and there were Dragmes also of 1 ½ dram, and of 1 ½ dram, and of one dram called Alby. In the Low-countries the Pounds are divided diversely in 16 Ounces, every Ounce in 8 Dragmes, or fifths, and 8 parts; And in France they call them 8 Grosses, the 128 make one pound. In other places they divide the pound in 12, 14, and 15 Ounces, Difference of Pound and Ounces. whereof the Pounds and Ounces both do differ, which is the cause that hereafter every country hath a declaration thereof. At Bridges in Flaunders they use Pounds of 14 Ounces, The Pound weight of Bridges. and of 16 Ounces, whereof the 100 ll of 16 Ounces make 108 ll of 14 Ounces; which Ounces of 14 to the Pound are heavier, for 100 Ounces of these are 105 ⅓ Ounces of the 16 to the Pound: which Ounces are divided in half Ounces, or Loot, and every Loot in 2 Sizayns, and every Sizayne in 2 Dragmes or Quintes. The smaller proportions and subdivisions of other places are as followeth. Italian Pounds for physic used in other places also. 12 Ounces. 24 Loot. 48 Sizaynes or Siliqua. 96 Dragmes. 288 Scruples. 576 Obolus. 1728 Siliqua. 5760 Grains. The said Weight of physic is at Lions in France as the Merchants ll. 12 Ounces. 96 Dragmes. 288 Scruples. 5760 Grains. The Pound weight of Venice. 12 Ounces. 72 Sextulas. 1728 Siliqua. 6912 Grains. The Pound at Paris in France. 16 Ounces. 128 Grosses. 384 Scruples. 9216 Grains. In Italy the Pound is also divided 12 Ounces. 24 Staters. 96 Dragmes. Vienna in Austria the Pound i● 32 Loott. 128 Quintes. 512 Pennings. 12800 Grains. Forasmuch as it falleth out most commonly, that upon trial of an unknown Weight, we do begin from the smallest Weight or Graine, and so ascend to the other proportions, and to the Pound, by comparing the same to our Grains and divisions of the Pound, Differences of Grains. which in matter of mint for gold and silver is of great moment, when the penny weight is divided into 24 Grains in England, and in the Low-countries into 32 Grains. Let us note the great diversity abovesaid of 5760 Grains to 12800 used at Vienna and other places, proportionably to their pound; and consider how easily we may be overtaken therein, whereof a more ample declaration is in the mint affairs. There is also a great observation to be had in the correspondency of Weights of one country to the Weights of another country, upon the hundreth subtle, that is to say 100 pounds even Weight. And because in England all wares of Volume or Bulck is sold, some by the hundreth weight of 112 ll, and some is sold by the pound, as spices, sugars, and such like, & yet are weighed by the said weight of 112 ll; and that moreover there is an over-weight allowed called Trett which is 4 upon the 112 ll, and also 2 ll upon every scale of 3 hundreth weight called Cloff, which is abated between the buyer and seller, Trett and Cloffes, and so there is a loss of weight by this Trett and Cloff: and especially because the commodities imported are bought by the weight of foreign nations; I have thought convenient to describe the said correspondence of Weight according to the 100 ll subtle of Antuerp, being generally known in all places: and for the Weight of London, to make some observations particularly. The correspondency of Weight of most places of Traffic. Antuerp. THe Custom of Antuerp is to weigh by the hundreth pounds even weight called Subtle, for the which commonly there is allowed at the weigh-house 101 ll. A Stone weight is 8 ll, the Skippound 300 ll, the Weigh 165 ll, the Carga or Charge 400 ll, which are two Bales of 200 ll for an horse to carry on either side, and the Pound is divided into 16 Ounces. The said 100 ll weight of Antuerp weigheth in the places following, London. At London and all England— 104 ll subtle weight, and of the Kyntall weight of 112 ll, it weigheth— 91 ½ ll. At Dublin and all Ireland also, Dublin. 104 ll and 91 ½ by the great hundreth. At Edinburgh in Scotland— 96 ll and all Scotland over; Edinburgh. and 103 ⅓ for 112 ll. The said 100 ll make 189 ½ Marks of 8 ounces, which are ounces Troy; wherewith Gold, Silver, Pearls, Musk, Coral, etc. Diamonds are weighed by another weight, called Carrat: Diamond weight. which is also used in England, France, and other places. One Carrat is 4 grains in England; and with them about 5 grains, because as aforesaid they have 32 grains to the English, being our penny weight. The said 100 ll of Antuerp are correspondent with the 100 ll of Brussels, Malines, Hartogenbosh, Louvain, Arschor; but at Barrow op Zoom 98 ll. At Briges also 100 ll. But wool weight is 108 ll, Bridges. which are weighed by Stones of 6 ll, called Nails, used also by the Skinners there, and maketh 114 ll English Wool weight weighing by four nails, whereof forty five nails make a weight, the two weighs make one pocket of wool. This 100 ll of Antuerp is but 93 ll at Bridges, in the weight of Butter and Cheese, weighing by Stones of 6 ll, and 20 Stones is a weigh, and do make also 189 ½ Marks of Silver, Gold, etc. Troy weight. The said 100 ll makes at Gaunde, Ypre, Dixmuyde, Hulst, Gaunde. Poperinge, Tornay, Ailst, Mirnow, for Hops and other wares 108 ll; and also in the Walloons country. And at Audinard, Cortryke, Lille, Douai, Santomur, and all Flaunders 110 ll. The said 100 ll, of Antuerp make at Amsterdam but 94 ⅘ ll, Amsterdam. and for Silks they use the weight of Antuerp. And all Holland, Gelderland, Walsland, and Sealand, it is 99 ll. Holland, Sealand, etc. And 110 ll only at Zurickzea and Tergoes maketh 107 ll. FRANCE. The said 100 pound of Antuerpe Subtle, weigheth by the King's weight, At Paris— 93 ll accounting 4 quarters of 25 pound to the hundreth. deep, Abbevile, Bourdeaux, Borgoingne, etc.— 94 ¾ ll. Rouen— 91 ll, by the Vicontee, accounting as at Paris. Also by the ordinary weight— 94 ¾, weighed by the same, and account 4 ꝑ cent over. Lions 111 ll Ordinary weight by Centeners' of 112 ll. 102 ll Almeric, or weight of Genua, for Silks, Saffron, and such like, weighing by small weights, and abating 8 ꝑ 100 94 ¾ ll By the King's weight, to pay Custom by. A Charge, is 300 ll, a Quintall 100 ll, and a Some is 400 ll. Tholouze. 111 ll; every Centener or Quintall, is 2 Frails of 56 ll. Auignon. 111 ll; every Centener or Quintall, is 2 Frails of 56 ll. Montpellier 111 ll; every Centener or Quintall, is 2 Frails of 56 ll. Rochel.— 111 ll; and 119 ll by the small weight. Calais in Picardy 111 ll Ordinary weight. 92 ll Merchant's weight. 114 ll The English wool weight. Genua 102 ll Weight for Spices. 85 ll By the great weight. Carga, or Charge, is 270 ll small weight. Marseilles.— 111 ll. Saint Antoine.— 127 ll. Aquismort. 102 ll. And all France generally 111 ll. Lion's weight are some 102 ll, or 94 ¾ as aforesaid. Mirabel. 102 ll. And all France generally 111 ll. Lion's weight are some 102 ll, or 94 ¾ as aforesaid. Calsada. 102 ll. And all France generally 111 ll. Lion's weight are some 102 ll, or 94 ¾ as aforesaid. Offerte. 102 ll. And all France generally 111 ll. Lion's weight are some 102 ll, or 94 ¾ as aforesaid. SPAIN. Seville the said 100 ll are 107 ll by Great Quintall of 144 ll of 4 roves of 36 ll. Smaller Quintall of 112 ll, of 4 roves of 28 ll. Lesser Quintall of 120 ll, of 4 roves of 30 ll. Granada & Armaria bona 105 ll Is pound of 16 Ounces. 93 ll Silk and Copper weight of 18 Ounces. 54 ll Great weight for flesh, of 32 Ounces. Castille.— 102 ll. Medina del Campo.— 102 ll. Burgos.— 93 Rotolus. Arragon. 106 ll. 96 ll, Great weight for wool. Barselona. 131 ll, Small weight for Saffron. Valentia. 106 ll By quintals of 4 roves, of 30 ll for Spices. 134 ll By quintals of 4 roves, of 36 ll. Carga is 3 quintals of 360 ll, and the greater of 432 pounds. The said 100 ll of Antuerp makes in Spain At Leon.— 109 ll. Sarragossa.— 112 ll, and small Quintal 131 ll. Lavalona, Sallanico & Magilica.— 131 ll. Vilaco.— 80 ll. The Lands of the Canaries, and all the Lands of Spain use the weight of Seville, as aforesaid. PORTUGAL. The said 100 ll make 107 ½ Rotules or Araters by The great Quintall of 128 ll. The small Quintall of 112 ll, containing each four rooves of 32 ll, and 28 ll. There is allowance made, four upon the hundreth upon Sugars; and 2 and 3 upon Cotten wool, and such like. The small Quintall is the weight of the contraction House of the Indies: Spice is weighed hereby, but all weighed by the great Quintall, and reduced upon the less Quintall. One Quintall of Wax is 1½ Quintall of 112 ll, is 168 ll. Madera 107 ½ Rotules, or pounds by the Quintall of 128 ll. Cabo Verde 107 ½ Rotules, or pounds by the Quintall of 128 ll. Santo Thomas 107 ½ Rotules, or pounds by the Quintall of 128 ll. Guynea 107 ½ Rotules, or pounds by the Quintall of 128 ll. Morocco in Barbary 107 ½ Rotules, or pounds by the Quintall of 128 ll. Feas and Suus in Barbary 96 ll. Calicut 80 Aracoles' for the said 100 ll of Antuerp; here they sell by Baccar or Bahar, being at Lisbon 4 great quintals of 112 ll. Baccar or Bahar is 4 Quintals for 120 Aracoles'. 20 Faracoles' of 32 ll ꝑ Roove, at Lixborne is 5 quintals. 480 Aracoles'. ITALY. Venice, the said 100 ll, is— 98 ⅔ ll great weight, wherewith Flesh, Butter, cheese, Leather, dates, Yearn, Copper thread, iron, Oil, Brimstone, and Wool are weighed, called, A la grossa: And by the small weight, Allasotile— 156 ll of 12 ounces, most used for all merchandises, every ounce is six Saffoes, every Sassis of 24 Carrats, every Carrat is four Grains. They do also weigh by thousands of 40 Mixi of 25 ll every one. And there is allowance made two upon the hundreth, in the Custom house, they account also by Cargaos of 400 ll small weight: Also by star of 220 ll weight, howbeit star is Mensuralis, to measure according to the weight of the goods, as Ginger 180 ll, Raisins 260 ll, Corn 130 ll. Star containeth 54 pottles of wine at Antuerp, Istria, Spalleto, Sequia, Fiume, Piran, and Trieste, have all the same weight, which the Venetians use, as aforesaid. The said 100 ll at Rome. 132 ll. Florence. 125 ll of 12 ounces. Bolognia. 53 ll of 30 ounces, to weigh wax & wool by roves of 10 ll. Milan, Pavia & Cremona 143 ll, of 12 ounces most used. 132 ll of 12 ounces, being 13 of the other. 60 ll of 28 ounces for flesh. Rechanate— 137 ll, but to gold thread but 112 ll. Treviso, Milan, 137 ll, and 108 ll by the two quintals. Ferrara, Ottrante, 137 ll, and 108 ll by the two quintals. Vrbino, Lansan, 137 ll, and 108 ll by the two quintals. Cesena, Bergamo, 137 ll, and 108 ll by the two quintals. Verona 90 ll, and for gold Thread 143 ll. Bressa 184 ll, and for Venice gold 136 ll. Naples 120 ll, and for Venice gold 134 ll. Romagna 120 ll, and for Venice gold 134 ll. Carpi, Mirandola, The said 100 ll of Antuerp make 147 ll. Parma, Plaisance, The said 100 ll of Antuerp make 147 ll. Luca, Mantua, The said 100 ll of Antuerp make 147 ll. Forli, Carmia, The said 100 ll of Antuerp make 147 ll. Aquila, Crema, The said 100 ll of Antuerp make 147 ll. Como, Piedmont. The said 100 ll of Antuerp make 147 ll. Savoy— 137 ll, and small weight 195 ll. Raviano, Faenza, Modena, Rimano, Ravenna and Raguza, all 132 ll. Genes by Roves, to a Quintall of 4 Roves and 4 ll over and above allowed, Pepper 110 ll, and Ginger 114 ll the Quintall. Napoli de Ream 147 ll. 53 Rotulus the 100 to one quintal or Cantar. Puglia, Calabria 147 ll. 53 Rotulus the 100 to one quintal or Cantar. Macharon— 147 ll. 53 Rotulus the 100 to one quintal or Cantar. Sicilia all the Island over 152 ll of 12 ounces. 61 Rotuls of 30 ounces is a Cantar of 24 Sestertios. 54 Rotuls for flesh by Talents of 12 Sestertios, is 30 Rotulos. Candia— 138 ll for gold thread. 89 Rotules, the 100 is a Cantar or Quintall. Nigrepont 119 ll. 87 Rotules, the 100 a Cantar. Griro 119 ll. 87 Rotules, the 100 a Cantar. Laarta 119 ll. 87 Rotules, the 100 a Cantar. Cataio 119 ll. 87 Rotules, the 100 a Cantar. Lacaonia 138 ll, and 78 ½ Rotules. Constantinople 87 ½ Rotules, the 100 a Cantar. 39 Ochaa. Dragma they call Metallici of 2 ½ make 3 Dragmes of ours. The said 100 ll make at Armenia 130 ll. At Bursa in Anatolia— 88 Rotules. Bucca— 44 Ochas. Damascus 26 Rotules, whereof the 100 make a Cantar, every Cantar 5 Zurli or stones of 20 Rotules, a Rivola is at Antuerp 225 ll. Tripoli 22 Rotules. Bieritti 21 Rotules. Suria 156 Minas, every one of 100 Dragmes. Syria in Hebrew 80 Minas or Maneg, and 100 is a Talon of pounds 18 ounces. Alexandria— 108 Rotules, the 100 a Cantar. 78 Minas of 20 ounces. Kalla maketh at Antuerp 560 ll. Molucco 88 Rotules, the 112 make a Cantar. Arabia— 78 Rotules of 12 Sachosi, or ounces 148 ll. 104 Maires or Minas. Almerica Malica— 90 ll of 12 ounces, or 36 Minas Sestertios of 30 ounces, or is 60 Siclos. Cyprus 20 ½ Rotules, the 100 a Cantar, and the 100 of Famiagosta are in all the Island 104. Rhodes 19 ½ Rotules, the 100 make a Cantar. Scio: Fio 96 ¾ Rotules or Scrutari. Corfu 97 ll great weight, and 115 ll small weight. Levante 26 Rotules and 156 ll. Egypt. Alcario. 78 Minas of 16 ounces 164 ll. 27 Rotules of 6 ll every one. Sciba is at Antuerp, 320 ll, is Skippound. Zeroi is 50 Rotules. Forfori is 65 Rotules, is for Pearls. Zaidin is 77 Rotules. Musk and Amber is weighed by Metallici or Dragmes, and with Peso, whereof 1 ½ is Metallicum, the 50 are one mark, and our mark is 42 Metallici. Suria Tripoli 26 ½ Rotules. Achri 17 ¼ Rotules, the 100, a Cantan Tambaran. Aleppo and Aman 22 Rotules, the 100 a Cantar. Every Rotule is 60 ounces, 8 Metecalo or Dragmes is the Rotulo, 480 Metecalos or Metalicos is every one 1 ½ Peso, and the 10 Pesos is an Ouga or Ongia, wherewith civet is weighed. Archipelago 120 ll. Nichosia 120 ll. Barbary Arcadia 92 ll. 83 ll, for Mavigette. Tripoli 63 Rotules. Thunes 63 Rotules. Oran 94 Rotules, the Cantar is 5 Roves of 20 Rotules 138 ll for spices, and the Cantar is 4 Roves. 50 Rotules for corn, every Cantar 6 Rotules. 61 Rotules for cotton wool, 15 to a Cantar. una 65 Rotules for cotton wool. 75 Rotules for spices. 94 Rotules for corn. Sus in Africa by the Quintall of 100 ll of Seville. Feas, the Quintall is 66 ll of Antuerpe of 18 ounces. GERMANY. The said 100 ll of Antuerpe make as followeth, at Norenborgh 92 ll of 16 ounces or 32 Loott, some by the Centener of 100 ll, and some of 120 ll. Constance 92 ll of 16 ounces or 32 Loott, some by the Centener of 100 ll, and some of 120 ll. Spiers 92 ll of 16 ounces or 32 Loott, some by the Centener of 100 ll, and some of 120 ll. Bibrach 92 ll of 16 ounces or 32 Loott, some by the Centener of 100 ll, and some of 120 ll. Collen— 93 ⅓ ll. Ausborgh all 95 ll. Munchen all 95 ll. Wisell all 95 ll. Norlingen all 95 ll. Salsborgh— 111 ll by the small weight, and 83 ll by the great. Meysen and all Saxony 100 ll, Zigostatica is the Princes, weight, mark, pounds of 16 ounces. 96 ll Merchant's weight. 148 ll of 12 ounces. Frankford 96 ll, they do use the Centener of 100 ll, 120 ll, and 132 ll. Hecdelborgh 96 ll, they do use the Centener of 100 ll, 120 ll, and 132 ll. Lipsich 96 ll, they do use the Centener of 100 ll, 120 ll, and 132 ll. Friburch 96 ll, they do use the Centener of 100 ll, 120 ll, and 132 ll. ulme, Isuff 96 ll, they do use the Centener of 100 ll, 120 ll, and 132 ll. Offen of Offner 96 ll, they do use the Centener of 100 ll, 120 ll, and 132 ll. Basle 96 ll, they do use the Centener of 100 ll, 120 ll, and 132 ll. Costuts 96 ll, they do use the Centener of 100 ll, 120 ll, and 132 ll. Dompstetter 96 ll, they do use the Centener of 100 ll, 120 ll, and 132 ll. Botsen 138 ll, ordinary weight. Adler 91 ll to weigh Steel, Tin, and Copper. Bresloo 120 ll by Centeners' of 132 ll, and Stones of 24 ll, whereof 5 Stones make a Centener. Silesia 120 ll by Centeners' of 132 ll, and Stones of 24 ll, whereof 5 Stones make a Centener. Poosen 120 ll by Centeners' of 132 ll, and Stones of 24 ll, whereof 5 Stones make a Centener. prague, Canali 87 ll. Passau, Gern 87 ll. Regensborgh 87 ll. Vienna 85 ll, a sum of quicksilver is 275 ll of 32 Loott the ll. Ersurd 85 ll, a sum of quicksilver is 275 ll of 128 Quints the ll. Idria 85 ll, a sum of quicksilver is 275 ll of 512 Penning the ll. Loosen— 146 ll. EASTLAND. The said 100 ll of Antuerpe make at Hamborogh— 96 ll, The Centener is 120 ll of 10 ll to the stone, 300 ll to the Skippound, or 20 Lispound of 15 ll. Lubeck— 96 ll, The Centener 112 ll, the Stone 10 ll, & 32 stone to a Skippound, and the 20 Lispound of 16 mark pound is a Skippound also. Coppenghen 96 ll as Lubeck Berghen in Norway— 96 ll, but very uncertain weighing with a sling. Straelsont 92 ll, the stone 10 ll, and the Lispond 16. Statin is 96 ll, small stone 10 ll, great stone 21 ll, the Centener 112 ll. Stockholm in Sweden 120 ll, the Skippond is 320 ll, and also 340 ll as at Dansicke by stones of 34 ll. Revel 120 ll, and the Skippound is there 400 ll. Dansicke 120 ll, 16 mark pound are one Lispound, and 20 Lispound one Skippound by the small stone of 24 ll for spices etc. They have also a great stone to weigh gross wares, as wax, flax, and the like of 34 ll, whereof 10 to the Skippound of 340 ll. Coninxborogh 125 ll, the stone is 40 ll, & 10 stones one Skippound of 400 ll, they do weigh also 350 ll, for the Skippound of Dansicke which is very dangerous, besides that the citizens are much favoured. Meluin is 124 ll, the stone 40 ll. Riga is 120 ll, and 20 a Lispound, & 20 Lispound to the Skippound. Thoren 120 ll, the stone is 24 ll. Nareca 120 ll, agreeing with the weight of Riga. Wild is likewise 120 ll, and 20 ll one Lispound. Cracou is 124 ll, and the Centener is 136 ll. The weight of the Last of corn. The Skippound is used in many places, and as in Italy and other countries a Carga or Charge is the loading of a horse of 300 or 400 ll: so the Skippound is taken for the lading of corn in a ship, Quasi Shippond, as a divident of a Last of corn, and as a pound is divided into 12 or 16 ounces, so is the ship-last divided into 12 and 16 parts: Rye. As for example, at Dansicke 16 Skippound for the Last of 340 ll for every Skippound which is the Last of Rye, which is at Antuerpe 283 ll, so the said Last 424.5 ll: and of Wheat 4528 ll. At Riga and the Nerua 12 Skippound 4000 ll; Wheat. at Melvyn and Connixborough 5200 ll, in the Low-countries is 16 Shippound for Wheat at 300 ll maketh 4800 ll, and 14 Skippound for Rye is 4200 ll, so by the weight is the Last of Dansicke bigger and heavier than the Last of Amsterdam: and you see the difference of weight between Wheat and Rye. These pounds are called Mark Pounds, being of two marks to the pound, to be known thereby to be pounds of 16 ounces. Observations concerning the manner of Weighing. TO weigh with few pieces or weights, take weights of augmentation double, namely 1 ll, 2, 4, 8, 16, 32, and 64, making together 127 ll, and with these 7 pieces you may weigh all things until 127 ll: and with triple augmentations, as 1, 3, 9, 27, 81, 243, and 729 ll, until 1093 ll. But the double augmentation is more commodious for Germany and England where the Centener of 112 ll is used. There must be an especial regard had concerning the Beams or Balances for the justifying of them: If it be an iron Beam try the same empty, and afterwards loaden with equal weights; and if it be a wooden Beam, it happeneth many times that the ends are not even, or that the irons about the ends are removed more on the one side than the other; therefore try the said Beam both empty and loaden, and you may find a great difference in weight, which with knocking in the iron with a hammer may be remedied. Whereas the weight of Antuerpe (whereupon all the aforesaid correspondencies are calculated) is bigger than the weight of London four upon the hundreth, which may be thought a benefit: the same is not so to be accounted, because of the Custom of 4 pro cento for Trett, allowed between the buyer and the seller, at London, which taketh away the benefit. This Trett is taken by dividing your weight subtle by 26, otherwise you should allow as it were Trett upon Trett. The Romans had a Custom, The manner of the Romans to make their Wills and Testaments. to name or call every man's Capital, or Stock, a pound, or As; dividing the same into twelve ounces, every ounce into 24 Scruples, 288 Scruples to the pound: Bess was ⅔ of the pound, or 8 ounces, Sextula of an ounce. Duellum of the pound is Bina sextula, or ⅓ part, Sicilicus is 6 Scruples, Dragma 3 Scruples. And so in the making of their Wills and Testaments, they put down one to be heir of Bess, is 192 Scruples, two of an Ouncia is 1/12; part, or 24 Scruples, 3 of semissa is ½ a Scruple, 4 of Duello, is 8 Scruples; in all 368 Scruples, there being but 288 Scruples in the pound: so every man's portion must be ratably diminished according to the pound. Cicero made the Testament of Cesinna, ex deunce & senuncia, was 12/24 parts, and of Marcus Fuluius of 2 Sextula was 1/10. There is also Ebutio sextula, being 1/72, and so the Mass of their goods was described. Of one pound of 12 ounces, Sextans is 2 ounces, Quadrants 3 ounces, Triens 4 ounces; and so accordingly the goods were distributed in equity. By means whereof the Testators wealth was unknown, and when he gave more than the proportion Arithmetical came unto, the order was to reduce the same to the pound of 288 Scruples, by diminution of every man's rate accordingly. The Custom used by many now to give certainties, and the remainder in uncertainty is to be preferred. Weights for Moneys, and their correspondence for most places of Traffic. THere is an other weight, which is used in the Mints for Gold and Silver, which is the mark weight of 8 ounces: This mark weight is heavier at Antuerp than their ordinary pound, by five upon the hundreth. This mark is divided in 20 English, every English 32 grains; so one mark is 5120 of their grains. This manner of mark weight is used in most countries, howbeit in some places of Italy by pounds of 12 ounces otherwise divided. In England the pound Troy of 12 ounces is divided into 20 penny weight, every ounce, and every penny weight into 24 grains, which in Antuerp upon the mark is divided into 32 grains. So the pound Troy of 12 ounces at London is but 5760 grains, whereas the mark of Antuerp being but 8 ounces is 5120 grains as abovesaid. Whereof we intent to treat more amply in our Second Part of the Law-merchant. There is also used a penny weight, which is divided; The mark in eight ounces, the ounce in 24 penny weight, and the penny weight in twenty four grains, making the said mark of eight ounces to be 4008 grains. The Mark is divided at Rome in eight Ounces. The Mark weight of Rome. The Ounce in 8 Dragmes. Dragma 3 Scruples. Scruple 2 Obolus. Obolus 3 Siliquas. Siliqua 4 Primi or grains; so every mark is 4608 grains. Meysen in Saxony. Marks 8 ounces. Ounce 24 penny or Deniers. Penny 24 grains or Momenta, is also 4608 Momenta to the Mark. Dansicke in Eastland. Mark 8 ounces Is 512 in the mark. Ounce 32 penny Is 512 in the mark. Penny 2 Heller Is 512 in the mark. Norenborough. Mark 16 Loot. Loot 4 Quintes. Quints 4 Prime or Numulos. Penny 4 Sestertios, is the mark 256 penny, or 1024 Sestertios. France. Mark 8 ounces Is 4608 grains the mark. Ounce 8 grosses Is 4608 grains the mark. Gross 3 deniers Is 4608 grains the mark. Denier 24 grains Is 4608 grains the mark. Portugal. Mark 8 ounces 288 grains to the mark. Ounce 8 Oitavos. 288 grains to the mark. Oitavo 4 ½ great Grains. Venice. Mark 8 ounces. Ounce 4 quarts, or Silicos. Quarta 36 Carats or Siliquas. Carrat 4 grains, is 4608 grains to the mark, or 1152 Siliquas. Florence. Pound in 12 ounces 6912 grains the mark. Ounce 24 denier 6912 grains the mark. Denier 24 grains 6912 grains the mark. Gold. Silver. Genua Mark 8 ounces Pound 12 ounces. Oùnce 24 deniers. Ounce 24 deniers. Denier 24 grains. Denier 24 grains. Naples, a pound 12 ounces, and an ounce 8 Octany. Bess, or old mark of the Romans. 16 Loot or Tetradragmes. 21 ⅓ Tridragmes. 32 Didragmes. 64 Dragmes. 96 Obolus or Treobolus. 128 Triobulos. 384 Obolos. 768 Miobolos. 3840 Momenta. The old pound of the Romans, called Pondus. 64 Denarios. 128 Quinarios. 256 Sestertios. 640 Asses. 1280 Semilibellas'. 2560 Teruncios. Libra Romana. 12 Ounces or gilders. 84 Denarios. 168 Victoritatus. 336 Sestertios. 840 Asses. 3320 Quadrantes or Teruncios. 5040 Sextantes. We have declared heretofore the division of the pound weight for wares, and the correspondence of the hundreth pound, compared to the 100 ll Suttle of Antuerp. And now in the same manner we shall note the correspondence likewise by the hundreth marks of Antuerp to all the said places or most of them, which is called the weight of the Duke of Burgundy, agreeable with the 100 marks of Bridges, and containing 14 ounces to the pound. The said 100 marks of Antuerp make in all places following. Saxony. Dansicke. 105 1/19 Marks. Meysen. Milan. 105 1/19 Marks. Collen. Vicenza. 105 1/19 Marks. Treci. Lipsich. 105 1/19 Marks. Mens. Vlme. 105 1/19 Marks. Erfurd. Frankfoord. 105 1/19 Marks. Grecia. Ausborough. 105 1/19 Marks. Norenborgh. Baviere. 103 ¼ Marks. Franconia. Bambergh. 103 ¼ Marks. Wessilbourgh. Fribourgh. 103 ¼ Marks. Ancona. Triviso. 103 ¼ Marks. Roma. Crema. 103 ¼ Marks. Venice. Verona. 103 ¼ Marks. Piedmont and Turin— 99 Marks. Florence 72 pounds. Aquila 71 ll. Naples. 76 ½ Pounds. Calabria. 76 ½ Pounds. Puglia. 76 ½ Pounds. Adler. 76 ½ Pounds. V●enna. 87 Marks. Hungary. 87 Marks. Bothner. 87 Marks. Bohemia. 87 Marks. Bresla in Sileia 121 ¾ Marks. Paris. Lions. 112 Marks, Merchant's weight. Genua. 102 ½ Marks, the King's weight. Genes. 116 Marks for gold. 77 Marks for ●iluer or pounds. Spain 107 Marks. Catalonia 100 Marks. Burgas 116 ⅔ Marks. Constantinople. 87 Marks. Turkey. 87 Marks. Africa. 87 Marks. Narsinga. 87 Marks. Perou. 87 ½ Marks. Nova Spagnia. 87 ½ Marks. Egypt 94 Besses. Persia 87 Minas. The premises are applied for our instruction in the handling of Mint affairs more at large. Here followeth the description of the Measures. WHereas all Commodities, Wares, or Stuffs made of wool, linen, silk, or hair, are measured by the Elle, or Yard, which was taken upon the measure or length of the arm, accounting the half Elle for Cubitus, divided into four quarters, and every quarter into four inches: we shall also follow the elle at Antuerp, generally known and observed in all places, in the correspondence and buying of foreign commodities by it, reducing the same afterwards to our elle or yard. The hundreth else of Antuerpe make in the country's following. Correspondence of measurer. ENGLAND. London 60 els for linen Cloth with the palm and thumb measured. 75 Yards for woollen Cloth with the thumb which is 1/36 of a yard. 59 Gods to measure Frizes or Frizadoes. 61 else Cords to measure Rowan Canvas whereof the Centener is 120 else, 10 Cords to a Centener of 12 else. Scotland 72 else, and they reckon with fix score to the hundreth, is 120. THE LOW COUNTRIES. Antuerpe for silk wares is but 98 ⅔ else. Bridges in the shops is also 98 ⅔, but for linen is but 94 ½ else. Gaunt all 98 ⅔ else, and all Flanders and Brabant accordingly, and not named hereunder. Audenarde all 98 ⅔ else, and all Flanders and Brabant accordingly, and not named hereunder. Ysenghem all 98 ⅔ else, and all Flanders and Brabant accordingly, and not named hereunder. Damn all 98 ⅔ else, and all Flanders and Brabant accordingly, and not named hereunder. Ipre all 98 ⅔ else, and all Flanders and Brabant accordingly, and not named hereunder. Sluys all 98 ⅔ else, and all Flanders and Brabant accordingly, and not named hereunder. Dunkercke 100 else. Honscotten 100 else. cassel, Wynockxborough, Deyse, Lowe, Bolducke, Bruselles, Diest, Louvain make 102 else. Lile, Cambray, Douai, Orsies, Meanen and Masiers 96 else. Amsterdam 101 ¼. Harlem in the market 94 ½ else for linen. All Holland beside is 103 ½ else. Henault 94 ½ in the markets, but in shops 98 ½ else. Gelderland and Ouerry sell 104 ½ else. Middelborough 100 else, and in the market for linen 94 ½ else. Flissingh 104 else, Vere 94 ½ else, Goes 97 else, Romerswall 99 else. Artois all the whole province 98 ⅔ else. Tourney 108 else. Liege 114 else. Maestricht, Asselt, 104 ½ else. Namen, and Acon 104 ½ else. Covyn but 70 else. Hoy 102 else. FRANCE. The said 100 else of Antuerpe make at Roven 58 else, the Centener of else being 112 of 4 quarters of 28 else. Paris, Rochel, and all France, the following places excepted, 59 Ells. Nantes, Abbevile, and all Picardy 84 else. Lions 60 else for linen cloth▪ 94½ else for silk wares. Auignon 60 else. 36 Cans. Provence— 36 Cans. Marselles 36 Cans for silk. 33½ Cannes for woollen cloth. Geneva 60 Stab. ITALY. Venice 101⅔ Braces for woollen cloth. Istrica 101⅔ Braces for woollen cloth. Piran 101⅔ Braces for woollen cloth. Venice 108 for silks and cloth of gold. Istrica 108 for silks and cloth of gold. Piran 108 for silks and cloth of gold. Florence 122½ Braces for silks. 116 else for woollen cloth. Rome 33 Cans. 105½ for woollen cloth. Luca and Raguza 120. Ferrara, Modena, 107½ Braces. Mantua, Perato, 107½ Braces. Ancona, Cesena, 107½ Braces. Bologna, Carpi, 107½ Braces. Nigropont, Mirandola. 107½ Braces. Verona 104½ Braces. 108 Braces of cloth of gold. 86 Braces. Parma 109½ Braces. 91 Braces. Ravenna, Scio, Corfu 116⅔. Genes 122 Braces. 288 Palms for silk wares, and 104 palms is given for 34⅔ else. 32 Cans for woollen cloth of 9 palms the cane. 29 Canes of linen cloth of 10 palms to the cane. Vicenza 98⅔ for woollen cloth, and 80½ Braces for silks. Naples 116 Canes and 33⅓ Canes. Milan 101⅔ for cloth, and 83½ Braces for silk wares. Milan 120 Braces Campido for linen cloth. 141 Braces for silk, which must be conditioned. Ravenna 113 Braces. Bressa, Trevira, 101⅔ Braces. Crema, Bergamo, 101⅔ Braces. Rechanati, Urbin, 101⅔ Braces. Cremona, Lacaia. 101⅔ Braces. Pesaro 103, and for cloth 107 Braces. Sicilia, Palermo 34½ Canes of 4 pichy to the Cane. Masilla— 34½ Canes of 4 pichy to the Cane. Gira 124 Pichy, Rama 115 Pichy, Salonici 109 Pichy. Tripoli in Barbary 124 Pichy of 4 to a Cane. Lavalona 111 Nigroponte and Lepanto 113 Pichy. Alexandria, Larta 124 Pichy. Syria, Damascus, Bruti 111⅓ Pichy. Suria Tripoli 112 Pichy. Achri 115 Pichy. Aleppo 108 Pichy. Aman 108 Pichy. Bursa in Anatolia 114 Pichy, Bucia 158 Pichy. Constantinople 113 Pichy. 80 Pichy for canvas. Archipelago 100 Sapy— 100 Puglia 31 Canes for clothes. 33 Canes for silks. Calabria, Adler, Lansan, Malaca, Rhode, 33½ Canes. Candia 108 Pichy, Sebenico, Zara 112 Braces. EASTLAND. Embden 122½ else. Brema 122½ else. Hamborough 122½ else. Lubeck 120 else. Munster 65 else. Osenbrigh 63 else. Wismar 118 else. Rosticke 119 else. Gripswoll 122½ else. Domyn 122½ else. Statin, Ockermond, 106 else. Dansicke, & Melvyn, 122 else. Connixborough 125 else. Riga and Revel 125 else. Narua 125 Arsins. Sweden and Stockholm 125 else, but at Barrow uncertain, for they measure the bigness of your head with a rope for an Elle, and may be 120 else. GERMANY. Collen 120 else. Norenborough 105 else for silk and linen wares. Meysen Lipsich 120 for cloth. Ausborough 127 for cloth. Frankford 125 for linen. Halle and Meydelborch, 105 else. prague 111 else, and for silk wares 120 else. Breslo 111 else, and for silk wares 120 else. Bautson 111 else, and for silk wares 120 else. Vienna 77½ for linen, 85½ for cloth and silk. Ofner 119 Regenburch 78½ else. 130 Regenburch 78½ else. ulm 120, and for woollen cloth 96 else. Ernfurd 165 else. jenfer 60 Stab. Zurich 116½ else. basel 125 else. SPAIN. Castill and Toledo, 85 Varas of 4 Quartos, every Quarto 2 Palms. Cadez 81 Varas. 108 else for silk. Andaluzia, Seville, Granado 83½ Varas. Barselona, Arragon, 43 Cans. Saragosia 33 Cans. Valentia 73 Cans. PORTUGAL. Lisbon 62 Varas. 83 Varas. 100 Covadoes for Silk Wares. Maroco. Capo d'Algier 136½ Covadoes, of twelve to one Cane. The Measure of wet Commodities. THe Romans in times past, called the wet Measure by Ounces, Difference between pounds or ounces, Ponderales and Mensurales. as we do the weight; accounting ten Ounces Ponderales, for twelve Ounces Mensurales: so Sestarius Romanorum was eighteen Ounces weight Measure, and 21½ Ounces Mensurales, or wet Measure. At Meyson in Saxony twenty Ounces Ponderales, make twenty four Mensurales. At Lypsich thirty two Ounces wet Measure, to 26½ Ounces weight Measure; the difference of correspondence from five to six. A Hogshead of Wine weigheth 500 ll, the Cask 50 ll: so in Wine 450 ll. A Hogshead of Corn 400 ll, the Cask 50 ll, is Netto 350 ll in Corne. So one Tun of Wine weigheth Net 1800 ll, and with the Cask 2000 ll. And one Tun lading of Corn 1600 ll, being in Cask also. Two Tons are accounted for one Last: so two Tons of Wine 4000 ll and somewhat more; Observations for the lading of Ships by weight and measure. and in Hogsheads there should be but ⅔ parts of a Last. At Dort in Holland, they call a great Vessel, a Rod of Wine, which weighed 4500 ll, as a Last of Corn; comparing these 4500 ll Mensurales, by reduction of six to five, are 3750 ll Ponderales, is 12½ Ames. Now if you account the gallon of Wine of Antuerp to weigh 6 ll, the capacity of this Vessel is 15 Aims, being 750 gallons. The Rod, is a Rod quadrant, of ten foot long, and ten foot broad, and one foot deep, every foot containing 7½ gallons Antuerps Measure, or 4⅔ foot Cubice. The Romans had a Measure called Amphora, of four great feet, as are used at Paris, Cubice 64 foot of 11¾ of the Antuerp gallon: so you shall find the Rod of 750 gallons set down for so many ounces; and ten Mixiades for 1000 gallons Dorts, in the lieu of pounds. Amphora, of the Romans wet Measure, is 84 ll. or 72 ll. weight Measure, is 50 ll weight of Antuerp, and in— Wine or rain water— 50 ll. Of diverse River water— 53 ll. Oil or Butter— 45 ll. Beans and Pease— 35 ll. Linseed— 39 ll. Corn— 40 ll. Almonds— 42 ll. Raisins— 49 ll. Figgs and Chestnuts— 67 ll. Hony— 75 ll. Quicksilver— 850 ll. Observations. Pease grinded weigh more than Corn, the roundness giveth cause to have more roomth, and differeth from 7 to 9 Warm water lighter than cold water. Warm water is lighter than cold water; and consequently the cold water, as the heavier, will sooner run through a hole than the warm water, for the weight of the cold water presseth more. Oil and all greasy things are light, and therefore swim above, and burn. Distilled waters are yet lighter, and will swim above, the oil, and also burn better, being more combustible. The cask which is made for the keeping of wine doth differ much; in France, a ton of two pipes, three puncheons, and four hogheades, is every one of these six Aims of Antuerps measure. In Germany they call it a Father, or the carriage of the drawing of two horses, is called a Voeder wyns, and they account 2½ Rodds for a father of wine, or ten French hogheads, every hoghead being an Am of wine measure of Dort, whereby they measure and account their wines, namely the Renish-wines coming out of Germany, whereof the Staple is kept at Dort aforesaid. An Am is 100 gallons or stoopen, and every Gallon is ten Schreaves, measuring thereby by the great. Of the correspondence of Wine Measures .. THe correspondence of Wine Measure is taken upon the vessel of 6 Aims Measure of Antuerp, containing 300 Stoops, every Stoop weighing 6 pound called a Stone, which 6 Aims make in FRANCE. At Paris and Orleans— Four Hogheads, lacking ten Stoops, every Hoghead 312 Stoops, and at Paris 36 Sextiers, every Sextier four quarts, every quart two pints, is 288 pints or grains imitated as before, every pint is two Choppins or Obles. Bourdeaux 4½ Hogsheads. Lisbon 5½ Hoshgeads. Auxere in Burgundy 3 Puncheons. Poictou 2 Pipes¼. Coniac 2 Pipes, or 4 Hogsheads. Ay and Artois 4⅔ Hogsheads. ENGLAND. London 252 gallons, the gallon is half a bushel of Corn, and the Chus measure of the Grecians. So an Am is 42 gallons of wine. SPAIN. Romani— Two Pipes of 150 Stoops, or 1 Butt and 9/20 every Butt, is at Antuerp 158 Stoops. They measure by the Roove of 30 ll, is 5 Stoops of Antuerp, and every Butt containeth thirty Rooves, and the Pipes contain thirty Rooves of 28 ll weight. Seres or Sherry Two Pipes of 150 Stoops, or 1 Butt and 9/20 every Butt, is at Antuerp 158 Stoops. They measure by the Roove of 30 ll, is 5 Stoops of Antuerp, and every Butt containeth thirty Rooves, and the Pipes contain thirty Rooves of 28 ll weight. Canary— Two Pipes of 150 Stoops, or 1 Butt and 9/20 every Butt, is at Antuerp 158 Stoops. They measure by the Roove of 30 ll, is 5 Stoops of Antuerp, and every Butt containeth thirty Rooves, and the Pipes contain thirty Rooves of 28 ll weight. Condado is 2 Butts. Madera 2 Pipes lacking 16 Stoops. Seville 56¼ Rooves of Romani. A Roove is eight Summer, every Summer four Quartils, every quartile is ⅙ of a Stoop of Antuerp. They deliver 27 and 28 Rooves in a Pipe. But Oil measure by 40 and 41 Rooves in the Pipe. Ansoy or Bastard, 2 Pipes 16 Stoops for the said 6 Aims. PORTUGAL. Lisbon 37½ Almudas of 1½ Rooves of Seville. Every Almudas is 12 Covadoes, or Summer, at Seville. Cavodo is 4 quarts. Oil Measure by Alqueri or Cantar, every Alqueri 6 Covadoes, every Cantar 4 Stoops of Antuerp. Algarue 34 Star. ITALY. Florence 16⅔ Barrels of 20 Fiaschi, or 18 Stoop of Antuerp, the three Barrels is one Star, and Star is 54 Stoops Antuerp. Rome 7 1/7 Brenten, every Brent 96 Pockall or 13½ Rubes or stones of 10 ll of 30 ounces in one Brent, or 42 stoops of Antuerp for Hony, the pound is 44 ounces. Candia 80 Mostaches, in Butt of 34 and 35 Mostaches of 3 ¾ Stoup. Bolognia 13 Corbes. Milan 1 1/25 Cara. The Oil is by Millier of 1185 ll, is at Antuerp 1100, maketh 152 Stops in one Butt. Venice 80 Mostati, the 38 make one Butt, and 76 an Amphora, 16⅘ Quarti Besontz measure the 4 one Bigontz Bigonts, is a French Hogshead, one quart, eighteen Stops of Antuerp. 15⅖ Quarti measure, Secchio, or small measure of four Tischaufer. Amphora 4 Bigonts, or Bigontines. 16 Quarti Bigots measure. 18½ Quarti Secchio. Lagel, is a Puncheon, Amphora is two Aims, for Oil they measure by Amphora also, and for Honey, but most by Milliar of 1210 ll. Verona 1½ Cara. 14 Brentes, every Brent 16 Bases. Oil by Milliar, of 1738 ll, is Brenten 8, & 11 Bases. Ferrara, 12 Mastelli, of 8 Seccheio. Vicenza, 1 1/26 Cara, the Oil by the Milliar of Venice. Treviso, 11 Consi, the 10 one Cara. Corfu 37 Zare, or Sare. Zante 37 Zare, or Sare. Istria, 15 Venas, Prian 12 Vrna, Tunes 60 Matali of 32 Rotules. Tripoli in Barbary, 45 Metares of 42 Rotules. Constantinopolis 180 Alms. 96½ Alms of Oil, is at Venice a Milliar. Calabria 8 Psalms. Puglia 8 Psalms are French Barrels, Oil also 8 Psalms, every Salme, 10 Star, every Star 32 Pignatoli. Of the Correspondence of Beer Measures. THe Barrel of Beer is made according to the Am of Antuerp, and against spilling, accounted 54 Stoops in Flanders and Brabant. The Barrel of Beer in Holland containeth 54 Stoops at Amsterdam 56½ Stoops, accounting 60 Stoops for 64 Flemish. At London the Barrel of Beer 36 gallons beer measure, is 48 gallons wine measure. Every gallon of Beer is just two Stoops in Flanders, and at Amsterdam 1⅔ Stoops. The Barrel of Lubicke, is just 50 Stoops of Antuerp. The Fat of Dansicke containeth 180 Stoops, of Dansicke is Antuerp 81. Old Measures of the Romans. THe Latins and ancient Romans had Doleum which was 1½, Culeus which was 2010 ll weight of Antuerpe. Culeus did contain 20 Amphora, being Amphora 80 ll Mensurales, and Ponderales 69 ll, maketh the Culeus 1380 ll of Antuerpe. Amphora (is yet almost in use in all Italy and Germany) was also called Cadus. Quadrantal being a Tub portable between Tutor of a great foot Cubice, also Ciraminium vini is as at London the bushel of corn of 8 gallons of wine, weighed 60 ll of Antuerpe. Vina is ½ Amphora Quod urinet was a leaking bucket, also a tankard wherewith water is carried at London. Three Vrnas was 16 Stoops or a Sestier weighing 34½ ll. Congius was a pottle of farewell, of 1½ stoop, or an English gallon, maketh at Meysen 3 pots, weigheth 8¾ ll. Campsaces is the same. Sextarius is ⅙ of Congeus, or about one pint of Antuerpe. There was Sextarius Castrensis of double the measure, which was used in the wars to every soldier one daily, weighing 23½ ounces. Hemina is at Antuerpe and Meyssen half a pint, called also Allabastrum. Triblium an oil glass weighed 11½ ounces. Acetabulum was a goblet to bring vinegar to the table of 3 ounces. Ciatus, in Germany Bacherline, is 4 spoonful, or a small romerken weighing 2 ounces, is the bigness of the egg of a hen. Culeus is 20 Amphores. 40 Vrnas of 4 Congios. 160 Congios of 6 Sextarios. 960 Sextarios. 1920 Heminas. 3840 Quartas. 7680 Acetabula. 11520 Clatos or Ciatos. Measures of the Grecians. MEtrices a metiendo, called Artaba by the Egyptians, is 16½ stoop, or a Sestier, weighing 100 ll at Antuerpe. Chus is Congius Romanorum, about 1⅓ stoop, a drink of farewell which they did drink one to another, weighed 8¾ ll. Cotila is Romanorum Hemina (the Spartans' in their feasts gave no more to every one) is half a pint. The king had 2 weight 11⅔ ounces. Quartanius is ¼ of a pint, weighing 5⅚ ounces. Oxibaphum, is as Acetabulum of 3¼ ounces, or 1½ Ciatos. Metreta Laconica was less, as Amphora of the Romans of 96 Cotilas. Modios or Medimios is 8 stoops of Antuerpe. Metretes is 12 Chus, or 144 Cotilas, or 576 Oxibapha of 1½ Ciatos. Bats or Bathis is ½ Metretes, or 6 Hinas every Hina 8⅓ ll. Logni is 5 Eggs of ⅔ ll: there were three sorts of Eggs used. Measures used by Physicians. Metretes is 72 Sextarios of 4 Quartas. 288 Quartarios or 12 Choas of 6 Sextar. 72 Sextarios of 2 Cotilas. 144 Cotilas. 288 Quartas. 576 Oxibapha. 864 Ciatos. Ciatos is 1½ Ounces. 10 Dragma. 4 small Mistra. 3 great Mistra. 2 small Conchas. ⅔ great Conchas. 5 Chemas. 10 Cochlearia or Spoonful. Measures of Arabia. Dorath is Albi, Romans Amphora, johem is Congeus Romanorum. Dorath is 8 johem. Cophinus 3 stoop. 48 Kift. Mares or Pontes, 1 stoop. 96 Corbin. Dadix 4 stoops, measures of 192 Kesiath. Boetia. 384 Cassich. 376 Cuatum. 2304 Salgerin. Artaba measure of Egypt, is 72 Sextarios, of 72 Nations known (then in the world) to be, Collatum is 6 stoops, Chenix a stoop, Hidria is 9 stoops, Phiala or Briala is a guilt cup. Of the correspondence of the Measures of Corne. THe differences of the corn measures are very necessary to be known of all merchants and masters of ships, letting thereupon their ships to freight; the Last (which is two Tons lading) being the groundwork of it, used in all the harbours of the sea coasts diversely. Four and twenty small Barrels are accounted for a Last, as herring Barrels, being 18 beer Barrels, or 18 Aims of Antuerpe, which are three Tons of wine; and yet we reckon two Tons of wine for a Last, for two Tons of wine weigh the weight of a Last of corn, that is to say, one hoghead 500 ll, the 2 Tons 4000 ll accordingly, and 12 Hogheads of corn weighing 350 ll the Hoghead, besides the cask, is 4200 ll. But the corn is laden joose, and filleth the room full. One pound of wheat containeth about 9 thousand grains of wheat; and the Last of 4300 ll, is so many nine thousand grains in a Last. The corn measure most known is in Latin Modius, a measure, in Germany a Molder, in the Low-countries a Mud, in France Muy: and the Last differing in so many places, it is not amiss to account the weight of a Last of wheat from 4200 to 4800 ll, the Last of Rye from 4000 to 4200 ll, the Last of Barley from 3000 to 3400 ll: Oats are yet lighter, which is the cause that the Oats measure is made bigger to countervail the weight. We shall take our correspondence upon the Last of Amsterdam, best known every where, and where also all grains are measured alike. The Last of Amsterdam is 27 moyes, or mudden, every mud 4 Schepel●s, is 108 Schepells to the Last: or a Last is 29 sacks, every sack 3 Achtelings, 24 small Tons to a Last as aforesaid, or 20½ meal Barrels, that is to say, one Last of meal is put into 20½ Barrels, because it becometh more depressed than corn, or 15 ½ great Barrels which do contain more. It is also to be observed, that the difference of corn measure is of 6 upon 7, also 3 to 4, and 2 to 3, and in some places one will make two. And in many towns upon the sea coasts they use two sorts of measures, the one called the water measure, whereby the corn is measured on shipboard (being always the biggest,) the other is called land measure, because the corn is measured thereby in all markets, shops, or places where corn is sold. The Last of corn of Amsterdam is at the following places. DAnsick, e56 Schepells, whereof 60 there make a Last, the 4 Schepells make one Mud, which is the Skippound of 340 ll. Embden 55 Werps, whereof 61 make the Last, or 15½ Barrels of 4 Werps. Hamborough 83 Schepells, whereof 90 make a Last. Lubeck 85 Schepells, whereof 96 make the Last. Fameren 78 Schepells, whereof 96 to the Last. Heyleger haven in Denmark 80 Schepells, also 96 to the Last. Coppenhaven 23 small barrels, whereof 42 make a Last. Ebbeltorff Danic 23 barrels, whereof 36 to the Last. Nelleboghe 23 barrels, whereof 42 to the Last. Sweaden 23 barrels. Connixborough 6/7 of a Last, the 6 Last are 7 at Amsterdam. Melvyn 17/21 of a Last. Statyn in Pomerland 6/7 of a Last. Riga 42 Loops, Rosticke and Mecheborough measure of Lubeck Antuerpe 37 1/● Vertules. Brussels 10½ Mudden, and differing in all places of Brabant. Gaunt 4 Mudds, 7 Hal●ters of 12 to one Mudd is 55 Hal●ters. Bridge's 17½ Hoot. Dunkircke 18 Rasiers water measure. Middleborough 40 sacks is 41½ to the Last in all Zealand. Dort 28 sacks. Rotterdam and Delfe 87 Achtelinges. Schoonhaven 88 Achtelinges. Enckhuysen, Horn, Medenblick 42 sacks. Groeninghen 33 Mudds. Texell 58 Loops. All other towes not situated upon the seacoasts we do omit, for this correspondence is made considering the lading of ships. London and all England is 10¼ quarters make one Last; but in the ordinary lading 5 quarters are accounted for one ton lading. Calais 18 Rasiers doth agree with England. Rouen 20 until 30 Mines, every Mine is 4 Bushels. Rochel 128 Bushels 4 to every Se●tier. Bourdeaux 38 Boissiaux, whereof 33 to the Last. Seville 54 Hanegas, a Last is 4 Cahis of 12 Hanegas. Lyxborne 225 Alquiers, whereof 240 to the Last, or 4 Moyos of 60 Alquiers ●o the Moyo, ano so in all the Islands of Portugal. Venice 32 Star. Genoa 23½ Mina. Sicilia 38 Medinnos of 6 Moyos. Puglia 32 Cara of 36 Timani. Cyprus 40 Medinnos of 2 Cipros. Note that the corn doth so much differ in goodness, that the measure of Amsterdam will weigh of Eastland Wheat 156 ll, of French Wheat 180 ll, of Sicilia Wheat 224 ll, and of Africa 236 ll. Of the Measures of Salt', correspondence and goodness of the same. THe heavier the Salt is, so much the better; therefore old Salt which hath lain long, and is settled, is the better, and will most increase to make Salt upon Salt, in yielding more naturally; in so much that in the boiling of it, you must observe the wind, which is good at the North, but contrary in the South. Salt will lose the first year between 8 and 10 in the hundreth, and afterwards but little. But for the Salt boiler, he looseth nothing, it is so much the heavier and better. Therefore in Eastland, at Riga and other places they sell their Salt by weight, 12 Skippound for one Last, and in some places 15 and 16 Skippound; wherefore if you have new Salt deliver it by the measure, and if old Salt then deliver by weight. Profitable observations about Salt. In the boiling or roasting of your salt, so called, it will augment or increase in measure according to the weight. New Spanish Salt from 100 to 135, 140 and more; and old Salt of 4 years lying made 100 to 200. This Salt is boiled by degrees, and is rough in the handling of it; for it is not driven up with a light fire, whereby it becometh waterish and weak, vot strong enough to salt flesh withal. The Salt of Portugal and Bruwage, increaseth 25 and 30 according to the goodness: the white Salt being weak and of great grains, will lose much in the removing, and more in the carriage, by 8 and 10 p● cent. To salt flesh withal, take of the slow boiled or roasted Salt, but make first his Brine, otherwise it will be too weak. One great hundred of Salt is four small hundreths. We are to observe the correspondence of Salt against one hundreth of Zealand, most known in all places: they measure their Salt with Barrels, 18 Barrels to a Last, and 7 Last to the hundreth, is 126 Barrels. At Armuyden in Zealand, they reckon 8⅔ weighs for one hundreth, every weigh is 11½ Sacks, every Sack four Measures, and 15 weighs of Bruwage Salt make the great hundreth. The Sacks of Salt of Armuyden, being 122 small Barrels for the 100 Sack, make as followeth in other places. Bruwage 4/7 parts of one hundreth of 28 Moyos, and 12 Sacks to the Moyo, also by Charges or Load; ten load in the hundreth, and 48 Moyos or Muys to the Last, or 21 Barrel. Lisbon 25 Moyos, Mary port 28 Moyos. Saintubal 20 Cays. Calis 22 Cays. Sanlucar 21 Cays. Gaunt 108 Sacks or Barrels. Antuerp 144 Vertels of 24 to the Last, and six Last to the hundreth, and the white Salt is measured with a lesser Measure of 12 upon 100 The said 100 Sacks of Salt of Armuyden in Zealand, make At Dunkercke 92 Water-measures, or 104 Land-measures. Ostend 98 Measures, Dam and Axels 102 Measures. Bridges 104 measures, and Ypre 144. Rotterdam 100, whereof six make one Mud of eighteen to the hundreth. Amsterdam, Vtrecht, Deventer, 102 Scheppels. Calis in France 130 Barrels, 19 to the Last, but 20 by freighting. Rouen, and almost all France 6½ Muys. Hamborch 7 Last, whereof 80 Barrels maketh the hundreth. Denmark 6⅔ Last. Sweaden 112 Tons or Barrels, 16 to the Last. Embden 100 Barrels, 14 to our Last. Lubeck 7 Lasts of 18 Barrels. London 7½ Lasts of 18 Herring Barrels, but by Weighs 11½. Venice and Prian 70 Mose. The Measures of Woad, Hops, and Sea-coal. WOad of Thoulouze in France, made up in Baskets of 56 ll weight, is at Antuerp 50 ll, London 52 ll. Four Baskets are one Load and four Bales, or 400 ll is reckoned for a Dyer's Trial, and at London they take four quintals of 112 ll for a Trial, to know how many short Clothes of 24 yards it will dye, which is commonly of Land's Woad from Saint Michael 7 Clothes: And at Thouloze they account that Woad of 36 Frankes, or about 4 pound sterling, dieth 13 Clothes. Cane in France they measure by a Tub, containing 8 Measures or Sacks, every Measure 120 ll, is the Coop at Antuerp 1050 ll, accounted for a Trial, but is fare inferior in goodness to Thouloze Woad. Eldfoord in Germany, there one great Drifatt of 1200 ll is a Trial. Hops were wont to be sold by the Measure, but now it is done by weight, namely the hundreth, or by a Skippound of Amsterdam of 300 ll, which coming much into England from the following places, is worthy the observation, albeit English Hopps are the best. The Skippound of 300 ll of Amsterdam is— Bridges 13 Hoett, but now measured. Gaunt 23 Halsters. Delft 40 Achtelings. Schoonhoven 37 Achtelings. Vtrecht 13 Muddes. Bolduc or Hertogenbosh, 8 Hoet. Harlem 2 Hoet. Hamborough 1½ Wispell. The Measure of Sea-coal. THis measure must of necessity be taken upon the Chalder of Newcastle, where the greatest quantity of Coals is found: They measure there by the Chalder filled up, whereof 7½ Chalders make one Last, and is measured with giving twenty one for twenty, the correspondence is; The Last of Newcastle of 7½ Chalders, is— London and Yarmouth 10 Chalders. Rouen 100 Barrels, giving 104 for 100 Bridges and Ostend 100 Measures for Oats. Dort 12 Hoet, also by Weighs of 144 ll of 24 Stones of 6 ll. Gaunt 144 Sacks, or 24 Muddes. Alst 200 Muddes. Antuerp 175 Vertels. Condet 44 Muys, the 80 make a Cherke. Zealand 68 Herring Barrels. Middleborough by Weigh of 180 ll. Amsterdam 13½ Hoet of 38 Measures. Rules to know the goodness of Sea-coals 1 TAke your Coal and hold the same over a candle, or rather over a flaming fire, and if the Coal do melt (as it were) drop or fry, than it is undoubtedly good Coal; for this is an argument of his fatty and sulphurous nature, which ministereth store of food for the fire. But if the same grow hard and dry over the flame, it is a sign of a lean and hungry Coal, and such as will not cake or knit in the burning. 2 The brightness and glistering of the Coal, both within and without, is some argument of his goodness, albeit that some kind of bad Sea-coal, newly digged out of the Mine, and brought dry in Summer time, will both show and break fair, but most commonly if it break in the colour or lustre of Pitch, it proveth a good Coal to the buyer. But without all question, if the same be of a dark, dusky, and dead earthly colour, it is utterly unprofitable for him that shall spend it. 3 The best and most assured proof (except the making of a fire with them, wherein no man of any sense can easily be deceived) is the lightness of the Coals in weight. This weight, as in many other bodies, so especially in water, doth either argue his pureness or impurity; for the lighter and clearer waters are ever held the better and more wholesome, as least participating with earth: now by the weight of half a Peck of the good ones kept by you, trial may be made at all times, for bad Coal is much displeasing to all men. Of the Weights and Measures of England. COncerning weights, for difference in the ounces and the pounds, we are to observe the Troy weight, Troy weight. which hath but twelve ounces to the pound; and avoirdupois weight, which hath sixteen ounces to the pound, which are lesser ounces; for these 16 ounces make but 14 ounces and one half, and two penny weight of the ounces Troy, used in the Mint, where 136 ll avoirdupois Suttle weight, is but 100 ll Suttle Troy weight. So accounted in the last Copper monies, of pence and half pence made for Ireland. avoirdupois weight. The Troy weight serveth only for Bread, Gold, Silver, and Electuaries, accounted eight pound to the gallon, and so by computation sixteen pound to the Peck, 32 ll to the half Bushel, and 64 ll to the Bushel. The avoirdupois weight serveth to weigh Butter, Cheese, Flesh, Tallow, Wax, and every other thing which beareth the name of garbel, and whereof issueth a refuse or waste. So 7 ll of this weight to the gallon for Wheat, is 14 ll the Peck, 28 ll the half Bushel, and 56 ll the Bushel. Correspondence of the said weight. The 7 ll avoirdupois weight, are one hundreth and two ounces Troy weight, according to which rate the quarter of Wheat must weigh 448 ll avoirdupois; and 14 ll avoirdupois, and 16 ll 11 ounces Troy, do justly accord, or 56 ll avoirdupois, and 67 ll 8 ounces Troy: where note that one penny starling, is the twentieth part of an ounce Troy, the half penny and farthing accordingly. And that 7 ll 12 s. starling is 84 ounces and one half, and two penny weight of Troy. And 6 ll 18 s. starling, is 82 ounces 3 quarters of an ounce, and one penny Troy. From the which 2 Assizes, the white wheaten and household breads are calculated and drawn. The measure drawn from the Troy weight. For the wet Measure is also drawn from the pound weight Troy, both by land and within shipboard, as also all manner of Corn and grain, that is to say, The weight of twelve ounces Troy in wheat, do make a concave or hollow measure named a Pint, and eight of the same pints make a gallon of Wine, Ale, Beer, and Corn, according to the Standard of his Majesty's Exchequer, and the Acts of Parliament 11 and 12 H. 7. But for the water Measure within Shipboard, there is allowed ten gallons to the Bushel, which contain five Pecks. The content of Cask. From this Troy weight and measure, is drawn also the Assize for the quantity and true content of all manner of Cask, lawful and vendible within the Realm of England, that is to say, Every Hogshead to contain threescore and three Gallons; every Tierce four score and four Gallons; every Pipe 126 Gallons, and every Tun 252 Gallons. Salmon, Herring, Eeles. Soap measure. There is also a measure called Salmon Butt of 84 gallons: so the Barrel of Salmon 42 Gallons, the half 21. The Herring barrel is 32 Gallons, and the Eel barrel 42 Gallons, and the half and Firken of both these must hold accordingly; the Soap barrel 32 Gallons. The weight of Cheese and Butter. There is also the true weight of Cheese and Butter, called the weigh, which is 112 ll avoirdupois to the hundreth: so the two hundreth is 224 ll, containing 32 Cloves, and every Clove 7 ll: so the weigh of Suffolk Cheese is 256 ll avoirdupois weight: but the weigh of Essex Cheese, is 336 ll. The Sack of Wool. The Sack of Wool is 364 ll weight of avoirdupois, two Weighs of Wool make a Sack, and 12 Sacks make a Last. But a Last of Herrings containeth ten thousand, A Last of Herring. and every thousand contain ten hundreth. Load of Lead. The Load of Lead is 175 ll; the Father maketh nineteen hundreth and one half. Concerning MEASURES. Yard. THere is a yard derived from the Grains of Barley. Three Barley Corns in length make an inch, and twelve inches one foot, and three foot to the yard, and 16½ foot make a Pole or Perch to measure land withal. Pearches. Albeit this Perch doth vary in some places, being 18 and 21 foot. Of these Pearches 40 in length and 4 in breadth make the Acre of land or wood. Acre of land. Whereupon Pliny lib. 2. cap. 23. deriveth Stadium to be a Furlong, Furlong. which containeth 125 Paces, every Pace 5 Foot, the Foot is to contain 4 Palms, and every Palm 4 Fingers breadth. The breadth of silk Cypers, bending and Curled. Nᵒ. 6 is 3 Nails broad, nᵒ. 8 is 3½ Nails, Breadth of Cypers. and nᵒ. 10 is ¼ of a yard broad, nᵒ. 12 is 5/16 of a yard, nᵒ. 14 is ⅜ of a yard, nᵒ. 16 is 7/10 of a yard, nᵒ. 18 is ½ a yard broad. Note in all plain Cypers they abate 10 upon the hundreth, and so bring them from Braces into Flemish else, and in the curled they abate 25 ꝑ cent. and in bending 16 in the hundreth. Genes silk by the Pawn of 104 to the hundreth is ¼ 26 yards English. Of silk wares. Bolonia silks by Braces the 100 are 89 Flemish else. Florence silk by Braces the hundreth 81⅔ Flemish, and 61¼ English. Luca by Braces the ⅚ part of a Flemish Elle, or ⅝ of a yard English. Venice by Braces the 100 are 95 Flemish, and 71¼ yards so Norenborgh. Seville by Varres the 100 is 123½ Flemish, and 92⅝ yards 74 else. Rouen by else the 100 is 125 yards, and 157½ Varres of Spain. And the 110 else English is 135½ Varres of Spain. The 100 else Flemish is but 60 else English. There are 8 Bushels in a Quarter, Corn measure as before. five Quarters to a Tun lading, and ten Quarters a Last, but always 10¼ or 10½ for a Last of Holland. Salt forty Bushels make a Weigh, Salt. water measure of ten Gallons. At Plymouth they measure by a Bushel, alien measure, whereof 24 make a Tun, and eight make a Quarter, so three Quarters make one Tun, and every Bushel is eighteen Gallons: so that a Tun of Salt at Plymouth is bigger than a Weigh of London by 32 Gallons. The Measures of Lands. THe measuring of Lands in distance or length extending to miles, or the partition of Lands by Measures, Acres, Arpentiers, Bunderen etc. is done by a Measure or Road, which is divided in 10, 12, 14, 16½, or 20 Foot: and the Foot is divided in a certain number of Ynches, 10, 12, or 16, which are also differing in bigness. Digitus or Finger, is in breadth 4 Barley corns laid close together. A Thumb or Inch is 6 Grains or Barley corns, making two of them three. Ouncia is 3 Fingers or 2 Thumbs. Palma (in Greek Doron) is 4 Fingers, is the 24 part of a man's stature. Lichas or Dichas is a Span of a hand with the Thumb and forefinger, or ten Fingers; sometimes taken for two Palms which is eight Fingers. Orthodoron in Greek is the length of a man's hand, or 11 Fingers. Spithama or Span with the Thumb and the little Finger is 16 Digiti or Fingers, also Greciaries 12 Fingers, is 3 Palma in Latin Dodrans. Pes a Foot is 16 Fingers or 4 Palms, or the ⅙ of a proportionated man's stature. Pigmy is 18 Fingers, so a Pigmy is a tall fellow. Pigori is 20 Fingers, called Cubitus, from the elbow to the fingers doubled. Cubitus is 24 Fingers, or 6 Palms, is ¼ of a man's stature or Sesquipes 1½ Foot, or 2 Dodrantes from the elbow to the point of the longest finger. Gradus a step is two Foot, or 32 Fingers, as between both feet distant. Passus simplex is 2½ Foot, half a remove of the body. Passus is a Pace, with 2 legs making from the heel to the toe 5 Foot. Orgia or a Fathom, is 6 foot, in Latin Vlna or 4 Cubicos. Stadium is Aulus of 125 Paces of 2½ foot, is 312 foot. Greece 100 Paces was the running of one man with one breath, as Hercules did. Diaulus is 2 Stadia Hippicon, 4 Stadia the running of a horse. Dolicos is 12 Stadia, about the sixth part of a Dutch mile. Signs, or Scena, or Funiculus in Egypt is 60 Stadia, is an hours going, and every man did draw the line going up by boat. Stadmos was a Posts journey. Miliare vel Leuca are diverse. But a Flemish mile is 1400 Roads. Gradus Geometrorum, wherewith the world is measured round about, is 15 miles, so the world is 360 Gradus, in toto 5400 miles, or at 4 miles for one Geometrical mile, is 21600 miles. The most commodious measure and more usual is the Road of 14 foot, rather than our perch of 16½ foot, and one hundreth of these Roads are called a Line of land, and three line make a great Measure of land, so called by the name Measure, whereupon we now proceed. A Line of land, lying one foot broad, the length of a mile, and a plough going one foot broad may be accounted to go a mile, the land square 100 foot for a Road, and the Line of land one Road broad is 10600 foot. A Line square is 10 thousand Roads, or 33⅓ Measures as aforesaid. For a Measure is 300 Roads, and square 17½ Roads, containing 58800 Foot. This Road is called in Germany Pertica making there 15 Foot, and in Flaunders accounting 1400 Roads for a mile is 10600 Foot in length. A way one Road broad, is called a highway for passengers Pedantical. A mile in length containeth 4⅔ Measures of land: the way of a waggon is accounted 9⅓ Measures. Some in Flaunders do reckon 1000 Roads for a mile, but is of 20 Foot the Road. Miliare was the distance or marching of a camp, without baiting, called Rastrum or Rastas, was 4000 paces. The difference between miles is not to be reconciled, every country having their own computation, and that differing in most places within themselves. In Saxony a mile is 4000 Paces, in other places in Germany 5000 Paces. In France they call them Lieux or Leucas, and in a parliament there it was appointed to be 1000 turnings of the wheels of a Wagon, whereof the foremost made wheel was 12, and the hindmost 18 foot, which between was adjudged upon 15 Foot, is of a Dutch mile but ¾. In Spain one Dutch mile maketh one mile and one half. In England 4 of their miles to one Dutch mile, being there 1000 Paces. In Italy 1000 Paces, whereof the 3 is a Dutch mile. Florence 3000 Braces for a mile of 6 Roads, is 1300 Roads. Holland 2000 Roads is 5 Holland miles for 4 Flaunders miles. In Egypt their Cubitus Geometricus is 6 of our Cubits, they reckon by Scena which is a Spanish mile. Persia Parasangia of 30 Stadia or Funiculi, they measure with 24 fingers the cubit, and Cubicus Regius is 27 Fingers. The Romans did use the Finger, Palm, and the Foot making four Palms. In the measuring of lands and ways, diverse measures were by the said Romans divided into 12 ounces, and the ounce in 24 scruples, and so they called a foot a pound, and 2 foot Dupondium. The Emperor's tables were four foot square every way, yet in use in Germany and the East-countries; but in England, France, and the Low-countries are longer than broad, is to sit 16 persons every where. jugerum is used as a measure in Castilia and about Rome, being an old measure. juger quasi junctus being one day's labour of two oxen at the plough, uno iugo Bovum, was the space of 240 Foot, broad 120, containing 28800, which is correspondent to one half great Measure of land, wherein they did also use many divisions and subdivisions according to the pound weight. Of the nature and diversity of Colours. ALbeit that colours are not comprehended in themselves under weight and measure, yet because the quantity of the stuff whereby things are died, are done by weight, as you may note in the precedent observation of Woad; and for that merchants may give the better judgement of colours, knowing the nature thereof, I have thought good (for variety's sake) to entreat thereof. The nature of all colours is confined between White and Black, and the original colours proceeding and relating to the middle of them, which is Greene, for so experience hath taught us in progress of time, by long observation, wherein by Art I have found the truth by variation without the mystery of dying, more certain than Aristotle or other Philosophers by reason have conceived, according to the Theoric part by them described, which by the Practice part I am assured of by experience as aforesaid. The original or primary colours are seven, as complete in number, and all other colours are mixed and derived from them according to the order following. Albus, White easily converted by decay of nature. Flanus, Yellow easily converted by decay of nature. Puniceus, light Red, is neither Blue nor Purple. Viridis, Greene, apt to be made into Blue. Purpureus, Purple easily turned to Black. Caruleus, Blew easily turned to Black. Niger, Black, the true ground whereof is Blue. All colours are light or obscure, Lucida vel Opaca, and they all (except Black) may be called light, as more or less partaking thereof. In White is most light, and shadow or darkness least or none at all. In Blue is the contrary, most shadow and less light. In Yellow is inward light and less obscurity. In Purple is the contrary, inward obscurity and less light. In Greene, is equality of light and darkness. In light Red, is more light than obscurity. So that for too much want of obscurity cometh whiteness, and for too much want of White or lightness, cometh blackness; and a cloth died Yellow being put into the Blue woaded vessel, maketh an excellent Greene. There was light and darkness before the Planet of the Sun was created, albeit the distinction between day and night is ascribed to the Sun. Now the Moon hath no light, but what the Sun doth impart unto her, and the colours of the Rainbow in the day time, being produced by the four Elements, do approve these colours to be so in nature, whereof the Philosophers have given a reason accordingly. But considering the curiosity of them, and especially of Aristotle, it is strange unto me that they have not made mention of the colours of the Rainbow in the night time, when the Moon is at full, and opposite to the Sun, which colours nevertheless take a reflection upon the clouds and obscurity of the night, far differing from the colour of the Rainbow in the day time upon the declination of the Sun; insomuch that albeit all colours must be discerned by light, and so judged accordingly, yet their operation doth differ very much, as may be showed. The property of all colours is to be subject to the air and Sun, and all of them do vanish; but in the black it is least seen, and is also the surest, having his ground upon the blue; so it be a blue substantial of Woad or Indigo, which is the extraction of the Herb Glaustum, or Anill, in the East and West Indies like unto our green Woad; but the leaves of it are round and not long, howbeit the climate and ground make the main difference. There was of late years, two great controversies at the Council Table: the one concerning the dying of Black-silke, Dying of Black silk. called London Die; the other concerning the use of Log-wood, being a false glorious colour. Concerning the London dye of Silk it was proved, that one pound of 16 ounces was by sophistications of additements augmented to 32 ounces, and forty ounces: which fraud cometh to pass, by reason of the gummy matter or substance whereof the silk was not purged for black dye, as it is in colours, whereby it made such an increase in weight. To prevent this abuse, a Corporation of Silkemen were made; and nevertheless, forasmuch that a reasonable increase of 8 ounces, doth look fairer, and can be better used, there remained a toleration of this increase in London. The way to find out the fraud was by controlling the weight by measure, which by convulsion becometh contracted: so that if the silk being purged decreaseth 16 ounces to 13 and 12, will moderately have afterwards some increase; then this silk being measured by the yard in Skeanes, and marked with Leads, and so delivered to the Dyar, must be received accordingly without such contraction and decrease of length, by the increase of weight, these two controlling each other. The indifferent course therefore, is the golden means; Dying by the help of Logwood. so is it done concerning Log-wood, being good cheap and fit for dying of a fair colour, although vanishing, serving for the poor people, wearing couse Stuffe, or using things of small value: that notwithstanding that the use of it was prohibited, as well as the importation, yet now of late there is a competent quantity admitted to be used by Letters Patent, and Proclamation. A Table of the Standard, for the true making of Woollen Clothes, according to the Weight and Measure declared by the Statute made in the fourth year of his Majesty's reign of Great Britain, etc. THe Sack of Wool appointed by King Edward the third, is distinguished according to the Lunare year of 13 months, of 28 days, making in all 364 ll, or 365 ll, for so many days in the year; the Todd of Wool being 28 ll, for so many days in the month; and 13 Todds for so many months in the year; every Todd containing four Nails, and every Nail being 7 ll, for the seven days of the week. This Sack of Wool is accounted to make 4 Standard Clothes of clean Wool, called Sorting-clothes, weighing 60 ll the Cloth, and being 24 yards long, of 6 ½ quarters broad or thereabouts, within the remedy or allowance of 2 ll weight upon a cloth. In the weight is to be observed, that the clothes be well scoured, thicked, milled, and fully dried. In the Measure likewise, that the same be measured by the yard and inch, within the List, concerning the breadth, according to the said Statute made of all the several sorts of Clothes made in diverse Shires, Viz. Broad. Weight, and Measure. Kent, Yor. & Read. clothes of 6 ½ quarters 86 ll 30 & 34 yards. Suffolk, Norfolk, and Essex of 7 quar. 80 ll 29 & 32 yards. Worcest. Covent. and Heref. of 6 ½ quar. 78 ll 30 & 33 yards. Wilts. Glocest. Oxon. Somers. of 7 quar. 76 ll 29 & 32 yards. Suffolk sorting Clothes broad 6 ½ quar. 64 ll 23 & 26 yards. All sorting Clothes of diverse shires 6 ½ q. 60 ll 24 & 26 yards. B. Cloth, Tauntons', Bridgewaters' and Dunstars— of 7 quar. 30 ll 12 & 13 yards. Broad & narrow of Yorkshire of 4 quar. 30 ll 24 25 yards. Devon. Kerseys and Dozen— of 4 quar. 13 ll 12 13 yards. Check. Kerseys, straight & plain gray's 4 q. 24 ll 17 18 yards. Ordinary Penistone or Forests 5 ½ quar. 28 ll 12 13 yards. Sorting Penistones of 6 ½ quar.— 35 ll 13 14 yards. Washers of Lankyshire and others— 17 ll 17 18 yards. Clogware, Kend. Karpnuales at pleasure, 20 at the least. The manner of making of all Woollen Clothes, and workman's orders, with the viewing, searching, and the forfeitures or abatements, may at large be seen by the said Statute: being an Epitome of all former Acts concerning the indraping of Wools, appointing wherein Flocks, Thrums, or Lamb's wool may be put. Observations concerning the said Weight and Measure of Clothes in general. THat all Substantial things, either dry or liquid, are by Divine providence subject and governed by Number, Weight, and Measure. That Weight and Measure do control each other, and that Number giveth denomination to them both, to discern truth from falsehood, as aforesaid. That the weight of a Cloth is more to be regarded, than the Measure, because the weight containeth substance; which is abused by stretching it in measure. That according to the Standard of Clothes, there must be allowed or accounted two pounds and one half of Wool, to make one yard of the abovesaid Clothes. That the Statute of Clothmaking, hath had a consideration to make an allowance or abatement for Draped, Dressed, Rowed, and Sheared Clothes, which is five ll in a Long-cloth, and four ll in a Broadcloth, besides the remedy of two ll. According to this Rule, his Majesty's Custom for Cloth and Carseyes, etc. aught to be paid, equalizing the said Custom of Cloth, with the Custom of Wool, according to forty shillings the Sack, paid in the time of Queen Mary; which is to be done according to the weight, and not according to the measure, as heretofore hath been partly done. And the weight will cause Clothes to be better made, according to the Statute whereunto the Reformation must be reduced, which will be beneficial. Benefits which will arise by the true making of Clothes in England, according to the Statute made in the fourth year of his Majesty's reign of Great Britain. THe Cloth of the Realm shall recover his former estimation, which every Merchant (weighing his Clothes) will cause to be observed, according to the said rule and proportion between weight and measure, whereby the stretching and falsifying of Cloth will be controlled and prevented, especially if this demonstration (here set down) shall direct the buyer of Clothes. And the like may be made for Carseyes and all other woollen commodities, according to the said Statute. The Cloth being truly made, will be more vendible beyond the Seas, where many complaints are daily made of the false making thereof; which the Clothier cannot but know, upon so many Certificates for Tare as are abated of them to their loss: every Merchant looking more to buy good cheap, than to buy good Cloth, feeding false making by it, which cometh to pass more by ignorance than otherwise. The Clothier finding the Merchant by these means able to control him, will endeavour to make true Cloth, and the Officers to survey it will be more careful, and not send the Clothier their Leads and Stamp, and so they be paid, never look to take pains to view the Cloth; hereby traffic will increase for the general good of the Realm, and his Majesty's Custom will be duly paid, according to the said Statute, and all will tend to the glory of God, and honour of the King, in all Equity and justice to be observed in all well governed Commonweals. Weights and Measures control each other. We may perceive by the contents of this Discourse, how weight and measure doth control each other: compare your measure of Corn with the weight, as before is declared; your length of Clothes with the weight as aforesaid; nay your wet Measures, with your dry Measures of all things of that nature, and experience by observation will teach you to distinguish truth from falsehood, and how to know the goodness of things; if Spices become light, than the weight will show it, because the substance is dried up; which to prevent is wisdom and no deceit: For as the Element of air is the cause of putrefaction, so the excluding of the same in many things, is a preservation, and so is likewise the preventing of dryness. But to end this Trial of measure and weight, let us observe the Italians by weighing and measuring of their Silk wares. A yard of Satin weigheth four ounces, being truly made, and if it be above, they take the same to be overgummed, and not truly made, and so if i● weigh less. CHAP. V Of the three Essential Parts of Traffic, namely, Commodities, Money, and Exchange of Money by Bills of Exchanges. ALL the traffic and commerce between Nation and Nation, or man and man, is performed under three Simples, which are properly the Essential parts of Traffic: Namely, Commodities, Money, and Exchange for Money by Bills of Exchanges: which is effected by Number, Weight, and Measure, according to the former observation. A Tripartite Exchange. And herein is to be considered a Tripartite Exchange, That is; Commodities for Commodities. Commodities for Money, and Commodities for exchange of Money, by Bills of exchange. For some Merchants do negotiate all for Commodities, others all for Money, or Exchanges, or for all three or any of them which yields them most benefit and gain: and herein is their particular profit, or Privatum Commodam, more respected than the general good of the commonwealth, whereby corruptible and unnecessary commodities are given for Staple wares and durable commodities, to the impoverishing of kingdoms and commonweals. And not only is this commutation or exchange abused in kind, but also in the price, paying too dear for the one, and selling the other too good cheap: whereby cometh an overbalancing of Commodities in price and quality, and not in quantity; whereby in effect, Overbalancing of Commodities. Moneys are given to boot, and as it were over and above the reasonable estimation of things; and herein is the course of Exchanges by Bills predominant, and overruling both the course of Commodities, and Money, as shall be at large demonstrated hereafter. For the said three essential parts of Traffic are properly the Body, Soul, and Spirit of Commerce, The Body, Soul, and Spirit of traffic. and have their operation accordingly. The first as the Body upheld the world by commutation and bartering of Commodities, until Money was devised to be coined. The second, as the Soul in the Body, did infuse life to traffic, by the means of Equality and Equity, preventing advantage between buyers and sellers. The third, as the Spirit and faculty of the Soul (being seated every where) corroborateth the vital Spirit of traffic, directing and controlling (by just proportions) the prices and values of Commodities and Moneys. True it is, that this Spirit and faculty of the Soul, namely the Exchange for Money, taketh his original from the Soul, which giveth life to the body of traffic; that is to say, The exchange for Moneys by Bills of Exchanges, is grounded upon Moneys, and Moneys were invented and made by common consent to be the rule and square to set a price unto all things, and the right and true judges of them; and is therefore called Publica Mensura, Money the public measure at home. or the public measure between man and man. But since the manner of Exchange was invented between nations and nations, or country and countries, Moneys did only remain the public measure within the realms or commonweals of every country, between man and man, according to the valuation of Princes and States imposed upon Moneys: and the Exchange of Moneys by Bills became Publica Mensura between us and foreign nations, and between all nations in the course of commerce, Exchange for Moneys the public measure between nations. according to which Exchangeal Commodities are bought and sold. And albeit that the abundance or quantity of Commodities, and the many or few buyers, or the scarcity of Commodities, causeth the prices of Commodities to rise and fall; and likewise that plenty of Money maketh things dear, and scarcity of Money maketh them good cheap, as a property inherent unto Money as a true measure: yet we must observe in true order, That both Commodities and Money are Passive, Commodities and Money are things passive. since th'exchange was invented, which is only Active, and that in countries where all the essential parts of traffic are used. But howsoever, the Maxim is to be observed in the avoiding of the said overbalancing of Commodities in price and quality. Marcus Cato therefore sayeth advisedly: Oportet patrem familias esse Vendacem, non emacem. A prince therefore (as the father of the commonwealth) ought to be a seller and not a buyer, which cometh to pass when the expenses of his commonwealth do not exceed his incomes and revenues: this to be effected by keeping a certain equality in the traffic betwixt his kingdom and foreign nations. Natural riches Artificial riches. For riches being natural, or artificial, and both subject to Number, Weight, and Measure, requireth a certain equality in the true commutation of things between us and other nations. justice's distributive and commutative. And justice being distributive & commutative, every man of judgement knoweth, that this part is comprehended under justice commutative; and that all traffic consisteth of the land Commodities▪ Land Commodities. Sea Commodities. and of the Commodities of the seas, and lastly of the Commodities of other countries and nations. For God caused Nature to distribute her benefits or his blessings to several climates, supplying the barrenness of ●some things in one country with the fruitfulness and store of other countries, to the end that interchangeably one commonweal should live with another. These Aphorisms or selected points are of great importance: for (as is noted before) gain being the scope of all merchants, is procured without regard had to the commonwealth; the wealth whereof cannot properly decrease but three manner of ways, Proper causes of the decrease of wealth in a State. namely by selling our home Commodities too good cheap; by buying the foreign Commodities too dear; and by the transportation of Monies in specie, when the exchange of moneys doth not answer the true value of it, by Bills of Exchanges; as shall be plainly demonstrated. Exchange the Rudder of traffic. For this Exchange is the Rudder of the ship of Traffic, fastened upon the Parallel of the keel of Equity, which doth rule and direct the said ship upon all the variations of the Commodities of all countries. Many men knowing that the Rudder doth govern the ship, can notwithstanding give little reason of the cause of it, but admire to see so small a piece of timber have so great an operation; yet no man is so foolish as to attribute that power unto the sails or any other appurtenances of the ship, or to the main body of it called the hull of the ship. Great is the error therefore of those that will ascribe any effectual operation to the quantity of Commodities, albeit there was a traffic and commerce without either Money or Exchange for Money, when the course of it was like a ship sailing without Rudder or Compass. Money may well be compared to the Compass, Money as the Compass of a Ship, and Exchange the Rudder. having so many variations upon the several standards of the coins of all countries, and changing continually from time to time in valuation; Princes and Commonweals taking advantage one against another, either to draw treasure into their Kingdoms and Territories, or to advance the price of their country Commodities. And Exchange may properly be compared to the Rudder of a Ship, which commandeth the directions of the Compass accordingly, and so doth the Exchange command the course of Money: for let the standards of Moneys be altered either in weight, fineness, or valuation, the Exchange by altering the price (with great facility) according to equity is able to meet and overrule them all, as shall be declared in the progress of this book. The learned have determined, Principles or Axioms what they are etc. that no argument or disputation is to be maintained with those that will deny Principles, which by reason and common consent are indisputable, and stand of their own authority: for by an undoubted Principle or Axiom we know, That the whole is bigger than his part, that two is more than one, and that two equal things being equally divided into a third, are all equal. The knowledge of the premises is so naturally and visibly engrafted in the mind of man, as no doubt can be admitted: nevertheless there are men so intoxicated in their judgements, that being once possessed of an imaginary conceit, they will never be removed; as he was who asked of his friend, What he should do with a heap of stones and trash to be rid of it? and was answered, That he should dig a hole in the ground and bury them; and when the other demanded of him, what he should do with the earth he should dig out? he told him he should make the hole so much bigger to put them in both, and he could never be recalled from this conceit, even in natural and substantial things to be felt, seen, and handled; insomuch that experience showeth, that digging an hole, one shall hardly put in the same earth again, without cramming and labour, much less the other. The pythagorians doctrine lately revived by Copernicus, touching the situation and moving of the bodies Celestial, denying the stability of the earth, may in some measure be admitted argumentandi gratia; for they set forth some Astronomical demonstration, Copernicus' his opinion of the motion of the earth. albeit imaginary, and declare some reasons agreeable to experience, namely that the Orb of the fixed Stars is of all other the most highest and farthest distant, and comprehendeth the other Spheres of wand'ring Stars. And of the straying bodies called Planets, the old Philosophers thought it a good ground in Reason, that the nighest to the Centre should swiftliest move, because the Circle was least, and thereby the sooner overpassed, and the farther distant, the more slowly: and upon this consideration, because of the swift course of the Moon, they did conclude, that the whole Globe of Elements was enclosed within the Moon's Sphere, together with the earth as the Centre of the same, to be by this great Orb, together with the other Planets about the Sun turned, making by his revolution one year; and whatsoever seemeth to us to proceed by the moving of the Sun, the same to proceed indeed by the revolution of the earth, the Sun still remaining fixed and immoveable in the midst. Aristotle of the stability of the earth. But Aristotle his reasons are generally approved, to prove the earth's stability in the middle or lower part of the world, because of gravity and levity, the earth being (of all other Elements) most heavy, and all ponderous things are carried unto it, striving (as it were) to sway down, even to the inmost part thereof, with many other reasons made disputable by some, because the Planets and Stars are fare above us. But to deny the Principle of Exchange and Money as aforesaid, may be refuted and proved to be so plain an error, as we see the hand or Index of a dial to be the thing active, which showeth the hour, and the letters are things passive and immoveable in the action; and so are Commodities in the course of▪ traffic, where Exchange is used. Right merchants are taken to be wise in their profession, for their own good and benefit of the commonwealth; for of the six members of all the governments of monarchies and commonweals, they are the principal instruments to increase or decrease the wealth thereof; as may appear by the description of the following royal banquet of Great Britain. The royal banquet of Great Britain. The king of Great Britain considering that all commonweals are furnished with Divine service, Arms, Laws, Riches, Arts, and Sustenance, & that the managing of these six things requireth six manner of persons, namely, Clergymen, Noblemen, Magistrates, Merchants, Artificers, & Husbandmen (which jointly are the members of all commonweals) was graciously disposed to invite them all unto a royal banquet, where (after many pleasing discourses concerning hunting, and having proved by many examples, that the most renowned princes delighting in that royal sport, have always been the best wariers) his Majesty was pleased, that every member of his commonwealth as aforesaid, should in one only word express the property of his profession or calling; whereupon the Clergymen did say, we instruct; the Noblemen, we fight; the Magistrates, we defend; the Merchants, we enrich; the Artificers, we furnish; and the Husbandmen, we feed. The king answering, used these or the like speeches: We do very well approve your declarations in this brief manner, recommending every one of you to discharge your duty accordingly, Comparison and property of the body to the head, so between the king and his subjects. with a remembrance, that we (as your head) must make the body of the commonwealth complete: for the office of a king towards his subjects, doth very well agree with the office of the head, and all the members thereof. For from the head (being the seat of judgement) proceedeth the care and providence of guiding, and preventing all evil that may come to the body or any part thereof, the head cares for the body, so doth the king for his people: and even as all discourses and directions flow from the head, and the execution of them belongeth to the members, every one according to their office; so is it between a wise prince and his people. And as the head by true judgement may employ the members in their several offices being thereunto sufficient, or being defective may cut them off, rather than to suffer infection to the rest: even so is it betwixt the king and his people, for as there is always hope of curing any diseased member by direction of the head, so long as it is whole; and by the contrary, if it be troubled, all members are partakers of that trouble; so is it between the king and his subjects, who is therefore called Parens patriae, Parens patri● who like a father of the great family of the commonwealth, doth study for the welfare thereof. The Lord Chancellor making a general answer, did acknowledge his majesty to be the right and supreme head, without which the body was to be esteemed as a dead trunk, for said he, the royal Sceptre of a Monarchy, guided with good and wholesome laws, doth far exceed all other governments, Aristocratia. Democratia. which properly are called Aristocracies & Democracies. Aristocracy is the government of the less number of people of a commonwealth in sovereignty, and Democracie (being contrary unto it) is the greater number of people governing. Monarchy the best government. Whereas a monarchy is a commonwealth where one sole prince hath the absolute government, here the peace, unity, concord, and tranquillity of subjects consisteth by means of one head, by whose power commonweals are fortified, virtue thereby being united and more corroborated, than if it were dispersed into many parts, which give occasion of strifes, turmoils, and controversies by the divided powers and emulation of greatness: when as one person (imitating nature) doth govern (as the head) all the parts and members of the body, for the general safeguard and weal public. Hereupon replication being made by the King; fault was found of the general dearth of all things within his Realm, without any scarcity of the said things serving for the back and belly, which we do attribute unto you Husbandmen, said the King, Food dear and no dear●h for food is dear, and yet there is no dearth. The Husbandmen did excuse themselves, and laid the fault upon the Noblemen and Gentlemen for raising of their rents, taking of Farms into their hands, and making of Enclosures. Noblemen and Gentlemen did impose the cause upon Merchants and Artificers for selling things dearer than in times past, which caused every man to make the most of his own, according to his profession; wherein the Artificers were easily dispensed withal, considering their labours, and Workman's wages, buying also all things dearer. So that the fault did wholly remain upon the Merchants, who have the sole disposing of all Commodities exported and imported for the good or hurt of the Commonwealth; which caused the King to enter into consideration of the aforesaid three Essential Parts of Traffic, namely, Commodities, Money, and Exchange for Money by Bills of Exchange. And ingeniously perceiving, that the vital spirit of traffic did consist in the matter of exchange for monies, because the same is the public measure between Nation and Nations, and that gain was the radical moisture of commerce, which had his effectual power in Exchanges: his Majesty thought good to call diverse Merchants to the consultation of this business (being within their element) to hear their opinion how to remedy the said inconvenience. Three manner of Merchants. Whereupon his Highness observed three manner of Merchants: The first (which were the greatest number) were ignorant of the fundamental reasons of Exchanges, and being carried with the stream, never took notice of it, but were guided therein by ignorant Brokers of Exchanges, according to the rule of foreign Nations, The second sort of Merchants, were those that did altogether practise to make a benefit by Exchanges and Transportations of moneys, and never did deal in Commodities at home or beyond the Seas, and these would not confess that there was any abuse committed by exchange. The third sort of Merchants (being the smallest number) were men of wisdom and experience, and yet they found the matter of Exchange to be a mystery, until examination of the properties thereof, and then (like good Patriots) they took a care for the welfare of the Commonwealth. The first sort, he did not regard because of their ignorance: The socond sort he did compare unto Vintner's, Offenders unfit to make Laws. who are not fit to be called to be Assistants in making of Laws against drunkenness, and so rejected them: But the third sort he did embrace as worthy Counsellors to reform abuses; and some of these were of opinion, that by reason of the Base Money coined in the latter end of the reign of King Henry the 8, all the foreign commodities were sold dearer, which made afterwards the Commodities of the Realm to rise at the Farmers and Tenants hands, and that the same was made dearer through plenty of Money and Bullion, Enhancing of Silver altereth the price of things. which came from the West Indies; and especially, because an ounce of Silver was enhanced by the said King, from forty pence, to forty five pence, and afterwards in process of time was valued at threescore pence, and that the operation of the said alteration doth still continue. Others said, that the prizes of things being risen, was of no great moment, because it was by denomination, and not really; for that which was called forty before, was now termed threescore, according to the coins of Silver valued by the ounce, as aforesaid. But the wiser sort did go further, and comparing the prizes risen of foreign Commodities, fare more than the prizes of our home Commodities, they did acknowledge, that there was an overbalancing of commodities, and found that the course of Exchange for Moneys was the efficient cause thereof: For they did observe, that as the elements are joined by Symbolisation, the air to the fire by warmness, the water to the air by moisture, the earth to the water by coldness; So is Exchange joined to Monies, and Monies to Commodities by their proper qualities and effects, whereby it did appear unto them; First, that our Money being undervalved in Exchange, causeth the price of our home Commodities to be abated, and to be sold better cheap in foreign parts, and is also the cause that our Monies are exported. Secondly, the Monies being transported, taketh away the lively course of traffic of our said Commodities, and causeth young Merchants to run by Exchanges upon Bills to maintain their Trade, paying great Interest for money, which they cannot take up by their single Bond, as they can do by Bill, taking up the same by Exchange without Sureties. Thirdly, this causeth young Merchants and others to make rash sales of their Commodities beyond the Seas, to pay their Bills of Exchanges, whereby they overthrew the Markets of others, an● make them sell better cheap. So on the contrary, the coins being overvalued in exchange, and also enhanced beyond the Seas, caused the price of foreign Commodities to increase, more than our native Commodities; and our Merchants are compelled (of course) to make return thereby, because they cannot import those overvalued monies, but to their exceeding great loss. And by exchange they find few Takers, unless it be our young Merchants, which do consume their estates by Exchanges, and Rechanges. For of the said three Essential parts of Traffic, Causes of the overballanceing of Commodities. we have but the use of one (as they observed) which is the buying of foreign Commodities to make returns, increasing therein the consumption of the said wares, and not our own monies remaining hereby plentiful beyond the Seas; the rather for that Bills of debt are (as ready money) passing between man and man causeth with them a lively course of Trade, whereby their Commodities are advanced in price and sale; neither are they compelled to sell them but at their price, because they find money at interest, at five and six in the hundreth. This plenty of money is daily increased by our Merchants trading Spain and all others, who do divert the royals of Spain from us, because of the enhancing of monies beyond the Seas, where they have 25 upon the hundreth gain, when with us they make but 10 ꝑ cent. This gain is practised by exchange, and would otherwise be but imaginary, as shall be declared hereafter; whereby we shall find that the said Exchange is still predominant, and overruling the Monies and Commodities. CHAP. VI A Geometrical Description of the World, especially of EUROPE, Measured by Millions of Acres of ground, upon the Map. The Measure is one Million, or ten hundreth thousand Acres. THE Circumference of the roundness of the whole Globe of the world, composed of Water and Earth, is accounted to be 5400 Geometrical Miles, or 21600 ordinary Miles. But whereas the Miles in all Kingdoms and Countries, and almost in every Province or Shire do differ. I have thought convenient to admit one measure of one million of Acres of ground, to measure the whole Globe thereby according to the Map, which is not only intelligible unto all men; but all merchants also may have use hereof. For by the number of the millions of Acres, comparing one Kingdom unto another, or one Country unto another Country, they may know the bigness and spaciousness thereof, which we have particularly observed in Europe, with a distinction also of the Dominion of Princes in these several Countries known by the name, France, Italy, Germany and others, which many times falleth into consideration upon singular occasions. This Globe of the world, is divided to be two third parts Water or Seas, and one third part Land: and of this Land there is one third part not inhabited, and the other two third parts are, as followeth. The whole Circumference, by the aforesaid measure is, 19, 803, 575000, which is 29 milliars, 803 millions, 575 thousand Acres, and the milliar is ten hundreth millions. A Milliar is ten hundreth Millions. So the ⅔ part water is 19 milliars, 869 millions, and 50 thousand acres of ground answerable: and the other part third is 9 milliars 934 millions, 525000 acres. Hereof deduct ⅓ part not inhabited, which is 3 milliars, 311 millions, 508 thousand acres; So rest 6 milliars 623 millions 17 thousand acres of land inhabited, whereof followeth a particular distribution. First for Europe or Christendom. England containeth 29 millions, 568 thousand acres. Scotland containeth 14 millions, 432 thousand acres. Ireland containeth 18 millions. So these three Kingdoms, with all their dominions of lands and Lands adjacent, under the Diadem of King james, contain 62 millions of acres of ground, etc. England is by this computation accordingly with the dominion of Wales, and all Islands thereunto belonging, the thousand part of the whole Globe, or the 222 part of the earth inhabited, or the 333 part of the whole earth; and Scotland may be full the one half of this computation, that is, the 444 part of the earth inhabited, or the 666 part of the whole earth: and the Monarchy of great Britain, and the Kingdom of Ireland is the 480 part of the whole Globe, unnecessary fractions in cipher omitted. The body of the Sun is 166 times bigger than the whole Globe of the world, and so accordingly for the seas and earth, as aforesaid. The 17 Provinces of the Low-countries. Contain 10 millions, 797 thousand acres, whereof The reconciled provinces with Spain, contain 7 millions, 197 thousand acres. The united provinces under the States contain 3 millions, 599 thousand acres. The Kingdom of France divided into 32 provinces containeth in all 82 millions, 879 thousand acres. The kingdoms of Spain (being eight in number) contain as followeth. m. Castille 25 Millions 730. Andalusia 2 millions 425 Granado 2 millions 128 Navarre 1 million 458 Leon galisia 9 millions 124 Arragon 13 millions 104 Biscaye 3 millions 412 Portugal 10 millions 154 In all containing 67 millions, 535 thousand acres. ITALIA. Under Spain. m. Naples 11 millions 704 Lombardie 1 million 640 Under Venice. m. Trevisana 2 millions 584 Verona 0 millions 480 Frioul 1 million 047 Mantua 0 millions 480 Under Rome. m. Liguria 1 million 415 Romagna 1 million 085 Latium 0 millions 480 Hetruria 0 millions 540 Savoy 1 million 910 Piedmont 1 million 160 Toscana etc. 4 millions 785 Suria and Florence 480 Marca 1 million 412 Ancona Parma 0 millions 885 Sicilia 3 millions 113 Cypress 1 million 601 Candia 2 millions 060 Corsica 1 million 395 Sardegna 4 millions 089 Containing in all 44 millions, 257 thousand acres. GERMANIA. m. Saxonia 3 millions 484 Misina 3 millions 249 Turnigia 1 million 093 Lusatia 2 millions 572 Bavaria 3 millions 249 Helsatia 3 millions 644 Helvetia 12 millions 328 Basle 0 millions 842 Swebourgh 2 millions 109 Salsbourgh 1 million 063 Trier, Ments, 4 mill. 237 Spiers, Strasbourgh, and Worms. juliers' 0 millions 348 Cleave 0 millions 258 Westphalia 2 millions 300 Osnab 0 millions 358 Silesia 5 millions 706 Bohemia 7 millions 024 Austria 6 millions 121 Moravia 4 millions 114 Pomerania 3 millions 249 Brandenbourgh 6 millions 208 Machalbourgh 2 millions 107 Franconia 6 millions 361 tirol 3 millions 249 Carinthia 1 million 588 Stiria 1 million 779 Palantine Rhine 4 millions 361 Wirtenborgh 1 million 223 Embden 0 millions 230 Oldenbourgh 0 millions 449 Liege 0 millions 548 Coloigne 0 millions 215 Containing in all 95 millions, 646 thousand acres. Prussia— 10 millions 240 thousand acres. m. Russia 9 millions 607 Volhimia 5 millions 762 Massovia 1 million 916 Livonia 34 millions 115 Poland 19 millions 205 Heretofore named Polonia, containing in all 80 millions m. 845. DENMARK. m. Denmark 10 millions 426 Norway 28 millions 492 Holsten 1 million 065 Ditinars 0 million 337 Containing in all 40 millions, 326 thousand acres. SWETHEN. Sweathen 57 millions 430 thousand acres. Finland 7 millions 531 thousand. Gothia 20 millions 936 thousand. Containing in all 85 millions, 897 thousand acres. Part of Russiia or Moscovia and Situam under Europe, 232 millions 558 thousand acres: so that whole Europe or Christendom doth but contain 802 millions 740 thousand acres, EUROPE. which is not the 12 part of the whole earth. Hungary, Dalmatia, Transyluania, and all Turkey 385 mill. m. 367. Moscoviae Pars 128 millions, 817 thousand acres. Tartary 299 millions, 110 thousand. ASIA. Persia 385 millions, 367 thousand. Calicut and East-India 587 millions, 200 thousand acres. Africa containeth 1541 millions, 883 thousand acres. AFRICA. America containeth 1152 millions, 400 thousand acres. AMERICA. Nova Hispania 1349 millions, 133 thousand acres. Summa totalis of the inhabited parts of the World, six Milliars, six hundreth and twenty three Millions, and seven ten thousand Acres of Land, Vt supra. THE use of this description, to know the bigness of one Country compared unto another Country, is, for example: England containeth twenty nine Measures and odd; Bohemia containing seven Measures and odd, is the fourth part of England, or thereabouts. The seventeen Provinces of the Low Countries, being ten Measures and odd, is the third part of England, or thereabouts. The Monarchy of Great Britain, being forty four Measures and odd, is as big as all Italy, and the five Lands of Sicilia, Cyprus, Candia, Corsica, and Sardignia, and is also more populous. And so for all other Countries; insomuch that England only containing twenty nine of those Measures, or Millions, 568 thousand Acres of ground; if we deduct the five Millions, and 568 thousand Acres for wild & waste grounds and Highways, One penny an Acre, is one hundred thousand pounds in England. there will remain four and twenty Millions of Acres, which at one penny an Acre, amounteth to one hundreth thousand pounds, a matter little sensible. Here may Microcosmos, the little world Man, behold how little the great world is, which is made for him as a Tabernacle, where he hath no abiding place, but traveleth as a Pilgrim towards the Celestial habitation, with a thankful mind and remembrance of the mercy of God, who hath been mindful of the Son of Man, and made him lower than the Angels, to crown him with glory and worship, Psal. 8. Thus much I thought to demonstrate unto Christian Merchants touching the world, before we entreat of the commodities, whereby traffic and commerce is by them and other Nations maintained, according to the ancient Verse: Currit Mercator ad Indos,— as appeareth in the next Chapter. CHAP. VII. Of the Commodities of all Countries whereby commerce is mainetained. Corporum tria sunt genera. ALbeit that the aforesaid Doctors of the Civil Law have declared that there be but three kind of bodies of things, namely, 1 Quod continetur uno spiritu, ut homo, lapis etc. which is contained of one spirit, as man and a stone, or such like. 2 Quod ex pluribus inter se, coherentibus constat, ut edificium navis etc. which consisteth of many things joined together, as a building, a ship etc. 3 Quod ex distantibus constat, ut corpora uno nomine subiecta, veluti populus, legio, grex, etc. which consists of distant things, as many bodies under one name, a People, a Legion, a Flock, and the like. Yet this definition is not complete, concerning the body of traffic and commerce, consisting of Body, Soul, and Spirit, namely Commodities, Money, and exchange of Money by Bills of Exchanges, as aforesaid, which are to be described in order. And because Commodities, like unto the Body, upheld the world at the first by way of commutation and bartering of them according to necessity and usefulness: Therefore may it be thought convenient to set down in this place, the particular commodities of all Countries, and (of some of them) their values and estimation, by means whereof Traffic and Trade is established and maintained, that thereupon we may proceed accordingly. Verily in the estate of Innocency all things were common; but alas this community of things endured but a while, and now by reason of our natural corruption, and proneness to wrong one another, there is an absolute necessity of propriety and several possession, which is consonant to the Law of God, as well as founded upon the Law of man, and consent of Nations; it being the voice of secondary Nature: This is my house, this is my town, and this is my servant, etc. whereby Meum & Tuum is distinguished. The revocation of this communion of things, is the nerves and bond of humane Society, and the mother of labour and diligence. Who would Till the ground if he hoped not to taste of the crop of it? Surely all would be waste and desolate, if men were to plant and build for every body, that is nobody. We see by experience, that the strongest would deprive others of the use of things, unless the law did interpose her authority, which is two fold, namely Paterna & Politica effected by the fathers of families, and magistrates. And herein is no other equality to be found concerning things, but a mutual voluntary estimation of them according to the use and behoof of the said things. And the proverb is true, That goods held in common, are (as it were) no bodies goods, and not manured as they ought to be, whereupon Plato in his second Commonwealth (upon better consideration) did revoke his former opinion of the community of goods, and used to say, That no man was a gainer but another became a loser, which had an over great regard to the property of goods, and if there were no property of goods, all traffic would cease. Nevertheless, the Equality and Equity in the course of Commerce must be observed, to avoid the overbalancing of commodities, as in the precedent Chapter is mentioned, which requireth a third consideration of an other kind of equality. For as we have noted with Aristotle, Riches is either Natural, or Artificial. The Natural riches, as Lands, Vines, Forests, Meadows, and the like. The Artificial, as Money, Gold, Silver, Cloth, and all other Manufactures and household Stuffe. Now as this Artificial riches is proceeding of the Natural riches, and that both these do receive their price and estimation by money: So reason requireth a certain equality between them, which we find to be defective, which is concerning the price of lands. To prove our Assertion, we can hardly make this inequality appear, albeit we do find the want of the treasure transported from us into the parts beyond the Seas. For it befalleth unto us concerning monies and wealth, as it doth to a General of a Camp of ten thousand supposed armed men, whereof muster being taken at several times, and upon several days, all of them are found to be armed, because they lend their Armour to each other: whereas, if they were all mustered in a day, and at one instant, a great part of them would be found to want Armour. So the like want of monies and wealth would be found if rich men were examined, for their personal estates upon any urgent occasion. And now let us examine the commodities of all countries, beginning from the East and ending in the West. Of the goodness and value of East India Commodities. THe Merchant's Trade for the East Indies, took beginning in England, in the year 1600; At which time Spices and all other Commodities were bought for the prices hereafter declared, translated out of the Portugal tongue, with my additions and observations concerning the goodness of those Commodities. Cloves. Cloves growing in the Lands of Moluccoes, being clean of Stalks, by the Portugal called Fusties, Fusses. were sold for fifty Pardaos the Kintal or the 100 weight of 112 ll correspondent with our London quintal, or hundreth, accounting the Pardao or Ducatt at 5 ss, is about 27 pence the pound. There is another leaner and drier sort of Cloves, called Cravo di Bastao, which is sold for 25 ducats, which the portugals do mingle many times: the difference is half in half in price, and the pound at 13 ½ pence. Mace. Mace, being of a fair colour and large, which groweth upon the Nutmegs, and is had also in the Island of Bantan, was sold for 74 Ducats the hundreth, which is 40 pence starling the pound. Nuttmegs. Nutmegs in the said places were sold for 15 Ducats, is 75 ss the hundreth, and the pound weight eight pence starling. Ginger. Ginger, being dry, from Calicout, called Belledin, or ash colour Ginger, at 9 Ducats the hundreth, is 45 ss, and the pound at 5 pence or thereabouts. There is an inferior sort called Mechino, of six Ducats the Quintall. Ginger in conserve, at 13 ½ Ducats, is about 7 ½ pence the pound. Cinnamon. Cinnamon of Zeilan, growing in that Island, was sold at thirty five Ducats, and the Cinnamon of Malabar, called De mato, for ten Ducats, whereby the pound of the best is about 19 pence, and the other about 6 d. Pepper. Pepper of Calicut, Malabar, and the Island of Sumatra, at 10 Ducats the hundreth, bought by the base of four quintals, cometh to 6 d. the pound Long Pepper. Long Pepper was sold at 25 Ducats the hundreth, is the pound 15 pence. Benjoin. Benjoin de Boninas at 55 Ducats, and the other sort of Caregasan at 48 Ducats, is the pound at 2 ss 5 pence, and 2 ss 2 d. or thereabouts. Campheir. Campheir of China was sold at 40 Ducats, is 10 ll, and the pound about 22 d. Indigo. Indigo of the better sort, called Carquez, 40 Ducats, and the common sort of Aldcas' 30 Ducats, and the richer sort of Aldcas', 70 Ducats the hundreth, which is the pound 22 d. 18 d. and 3 ss or thereabouts. This rich Indigo is as good as that of the West Indies of Guatimalo, West Indies Indigo. and better than (Laurea alias Lahora) coming from the said West Indies, whereof there was wont to come another sort, called Indigo Campeche, which was an extraction of Logwood, Uncertain Trade for Indigo. being overlight and frothy without substance, which did swim upon the water, whereby this manner of trial is uncertain, and only the Cowpe must find the goodness of Indigo by the working of it. Commodities sold by a weight called Man of 24 ll weight. China Silk 76 Ducats. Silk in pieces 86 Ducats. Silks. Silk of Lancan 40 Ducats. Silk of the Eagle, the best 35, and the common 26 Ducats. Lacre or Hard-Wax, sixteen Ducats the Man. Soft-Wax, Hard-W●x. four Ducats. Commodities sold by the Bar of 15 Rooves or Arrobas of 28 ll. White Sandalo, the 20 pieces, 160 Ducats. Red Sandall wood, Wood of China. fifty Ducats. China Wood 180 Ducats, Ebony Wood 200 Ducats. Commodities which are sold by the Ounce. Amber greis' 13 Ducats, is 65 ss. Black Amber 3 Ducats, Amber. or 15 ss the ounce. Musk in Coads' at 2 ½ Ducats or 12 ss 6 pence the ounce. Musk. Bezoar Stones are sold according to their bigness more or less. Bes●aar stones. Commodities sold by the score of twenty pieces, as Calico Cloth, etc. CAlico Cloth of the places following, called by several names. Calico cloth o● diue●s places. Canequins fine of Cambaya 60 Ducats, is 3 Ducats, or 15 ss the piece. Canequins ordinary of the same place, 40 ducats is 10 ss the piece. Teadas 20 Ducats, is 5 ss the piece. Dotins, 25 Ducats. Bancais ten, etc. Cotonias for Friars, twenty four Ducats: and ordinary at twenty Ducats. Calico Cloth Dosinde, called jourins fine 70, and ordinary 45 Ducats. Calico Cloth of the coast of Canaor, called Beatillas', fine 26 Ducats, and the ordinary 20 Ducats. Pacharins' 25, and Berames 30 Ducats. Calico Cloth of Vengala, of two places, called Cassas fine, 100 Ducats, the ordinary Cassas 70 Ducats, Soto pazes, 25 Ducats, and Beatillas' 100 Ducats. Chaictares fine, 40 ducats; ordinaries 25, and cassas of 60 ducats. Calico Lawn made of Nettles ●/4 broad, Calico Lawn. and eighteen yards long, is of diverse sorts from threescore Ducats to one hundreth twenty and above. All kind of Drugs differing much in goodness, Drugs. must be bought accordingly, as Mirabolanes, called Emblici, Belirici, Citrici, and Indij. Tamarinds, Calamus, Aromaticus, Spicanardi, Oppium, Cassia, Myrrh inanse, Aloes Cicatrini, & Tutia, Rheubarbe, and the like; Lignnm Aloes, Sanders, Borax or Atincall, and many other commodities. All which Spices and Drugs are to be Garbled, for the better and wholesome use of man, for as liquid things in Nature, become sour; so dry things become bitter in nature, whereupon the Garbellers office was established and granted, The office of Garble●ship. A●no 1309. first in England by King Edward the second, unto some sufficient persons, at the suit of the Pepperers, now called Grocers of London, which is, in effect to separate the good from the bad, or pure things from the impure, putting them up every one accordingly under certain Seals. Of the weight, goodness, and values of Pearls and Precious Stones. Pearls and Diamonds, are bought and sold by the Carrat weight made for that purpose. For whereas Gold is sold by the Carrat of 24 to an ounce, accounting two Carrats for one ounce of Silver, whereof 12 ounces make the pound weight Troy. Difference of Carrats' weights. This Carrat weight for Pearls and Diamonds is fare lesser, for the 150 Carrats make but one ounce; so that one Carrat of Gold weight weigheth 6 ¼ part of a Carrat of Diamond weight, and the like for Pearls, whereof there is a Measure for Round Pearl made correspondent thereunto, which is also divided into 4 grains, as the Troy weight is, which grains are of less proportion of 6 ¼ to one, and the divisions of small weights are made in ½ ¼ ⅛ and ⅙ part, albeit the Troy grains are most commonly used, without this observation. India weight. Diamonds are bought in the East Indies, by a weight called Mangear or Mangelin, weighing two Tare ⅔, which ●/3 of a Carrat, for 4 Tares weigh a Fanan, which is above 2 Carrots. Rubies are bought by the Fanan, and 11 ¼ Fanans make one Mitigall, and 6 ½ of them make an ounce. But of late years, Diamonds, Rubies and Saphires, are bought and sold by the Carrat weight. Diamonds the most perfect, called Nayfe, are found in the Kingdom of Decan and Narsinga, and the Island of Ziclan, which, as (I say) are sold by the Mangelin, at so many Pardaos, or Ducats of 360 Reis, or 9 royals of Portugal; but accounting the Fanan at six pence, and ten Fanans for the said Ducatt, than the Pardao is five shillings starling. The Nayfe Diamonds are pointed on both sides, and they do grow upon the Flat Diamonds, which are in the superficies of the Bourt of Diamonds, and are impure, commonly beaten therefore into powder for the use of the other Diamonds, that are cut and polished by the Millne. The Flat Diamonds are always valued one third part less in price, than the Nayfe are, so long as they be uncut; but being cut, are of more or less estimation according to their fashion. Some are fair Triangles, others Flower de Luce's, Roses, Hearts, Columes, Demy Crosses, or other fashions of Poly Angles, and proportions serving for the members or parts of the bodies of things to be made into many works and jewels, as the jewellers will apply the same, cut with many Fassets' or Squares: But the thick Stones are more certainly known by their weight, having their Bisallyes complete either in Tables or Points wanting no corners or due proportion, without spots or sands, burbles, Properties of good Diamonds. flaws and veins, which sometimes (although it be in little stones) maketh them run 3 and 4 days upon the milne, spending much time and labour to polish them. It is almost 40 years since I did maintain diverse milnes and cutters of Diamonds, whereby experience made proof unto me of these things, which are very considerable. For the water of Diamonds is also chief seen in the cutting and polishing of Diamonds, some being a yellow water, other greenish, other brownish: but the difference is almost all alike, if they be of one rock, that is to say, they are like in the parcels as they sell them. The best waters are whitish, inclining to the blue, which maketh the best illustration and play, as some call it, which sometimes will be found to be admirable in a thin stone, or feables, as the portugals call them: but the fassets must be industriously wrought, which in great stones of 10 or 12 Carrats maketh them to be Paragons, Paragon Diamonds. that is to say, in all perfection, and being Piedras de muestra, or stones of show, will be sold by estimation, as the love and fancy of a man will carry the same. In times past all Diamonds above 4 Carrats, rough or unwrought, were the kings, in the places where they were found; which is the cause that concerning the values of Diamonds of above 4 Carrats cut, no proportion in price is made certain between jewellers, but is left to estimation according to the abovesaid properties. Small Diamonds have some proportionable price, rising and falling accordingly, which were set down at Paris in France, during the reign of the French king Henry the fourth, by the jewellers there, as followeth. Crowns of 6 ss every Carrat. Of 10 stones a Car. 5. Of 9 to a Carrat 5 ½ Of 8 ½ to a Carrat 6 Of 7 ½ to a Carrat 7 Of 7 to a Carrat 7 ½ Of 6 ½ to a Car. 8 Of 6 to a Car. 8 ¼ Of 5 ½ to a Car. 8 ½ Of 5 to a Car. 8 ¾ Of 4 ½ to a Car. 9 Of 4 to a Car. 9 ¼ Of 3 ½ to a Car. 9 ¾ Of 3 to a Car. 10 ¼ Of 2 ½ to a Car. 11 Of 2 to a Car. 12 Of 2 ¼ gr. the piece 12 ½ Of 2 ½ gr. the piece 13 Of 2 ¾ gr. the piece 14 ½ crowns the Car. Rough Diamonds called Bruits. Of 3 Grains 16 ½ the Carrat. Of 3 ¼ Grains 17 Of 3 ¾ Grains 18 ½ Of 1 Car. the piece 19 Of 4 ¼ Grains 19 ½ Of 4 ½ Grains 20 Of 4 ¾ Grains 21 Of 5 Grains 22 Of 6 Grains 24 Of 7 Grains 26 Of 8 Grains 30 Of 9 Grains 34 Of 10 Grains 40 Of 11 Grains 45 Of 12 Grains 50 Of 16 or 4 Carrats 60 By this estimat it appeareth that a Diamond of 4 Carrats' brute or uncut, is set down 60 French crowns, which is 18 ll sterling: for it is uncertain what may be diminished of the weight by the workmanship of it. Diamonds cut and polished. So that in the Stones cut and polished there is more certainty; whereof the price was likewise proportionably set down as followeth. Of ½ a Grain 20 shillings stir. Of ¾ of a Grains 25 Of one Grain 40 Of 1 ¼ Graine 50 Of 1 ½ Graine 60 Of 1 ¾ Graine 80 Of 2 Grains 100 Of 2 ¼ Grains 120 Of 2 ½ Grains 150 Of 2 ¾ Grains 9 ll 0 0 Of 3 Grains 12 0 0 Of 3 ¼ Grains 16 0 0 Of 3 ½ Grains 20 0 0 Of 3 ¾ Grains 24 0 0 Of 4 Gr. or one Carrat 30 0 0 Of one Carrat ¼ 33 0 0 Of 1 ½ Carrats 36 0 0 Of 1 ¾ Carrat 40 0 0 Of 2 Carrats 60 0 0 Of 3 Carrats 100 0 0 Of 4 Carrats 200 0 0 All which prices may alter from time to time according to the use of precious Stones, upon accidental causes of the marriages, of Princes and great personages, to be done proportionably. As if the Diamond of a Carrat should rise 20 in the hundreth, than all the other sorts accordingly; and so also in the falling of the price by greater quantities. Diamonds of yellow water (which give lustre extraordinarily by candlelight) are more in request in Germany and some places in Italy, where the brown Diamonds are also desired. But in England & France they are worth ⅓ part less (which is according to the above said prices that Diamonds are now worth with us also.) The Diamond of a full Carrat being a perfect Table, and yellow, is worth 20 ll sterling. The pointed Diamonds, which (in regard of their natural proportion, having less waist in the cutting) heretofore sold better cheap than the Table Diamonds, are now dearer and more esteemed. About this time of the abovesaid estimation, these Diamonds of the Sorts following, Brute Diamonds at Lixborne. were bought rough or brute at Lixborne. ll. s. d. Of 10 pieces to a Carrat 1000 reis or 0 12 6 the Carrat. Of 9 to a Carrat 1200 reis 0 15 0 Of 8 to a Carrat 1400 reis 0 17 6 Of 7 to a Carrat 1600 reis 1 0 0 Of 6 to a Carrat 1800 reis 1 2 6 Of 5 to a Carrat 2000 reis 1 5 0 Of 4 to a Carrat 2400 reis 1 10 0 Of 3 to a Carrat 3200 reis 2 0 0 Of 2 to a Carrat 4000 reis 2 10 0 Of one Carrat nayfe 6000 reis 3 15 0 Of one Carrat flat stones 5000 reis 3 2 6 The cutting of them was 10 and 12 ss for every Carrat in those days. There is a rule for cut Diamonds above 5 Carrat. A Diamond of 10 Carrats is 10 times 10: which is 100, so at 25 pound a Carrat, is worth 2500 pounds. To multiply the weight of them within itself, and then by the price of one Carrat to value the same, as in the margin appeareth by the said rule, after 25 ll the Carrat. Rubies are found for the most part in a river called Pegu, being of the best kind and finest, and are called Nuncuplo, of a high colour without any spots, and clean, Rubies. also the hardest and coldest upon the tongue as the Indians say. They are sold by the Corcia or score, of 20 pieces, by a weight called Fanan. The Ruby of one Fanan for 10 Pardaos or Ducats, is 50 ss stir. If they be not perfect, the price must be considered, as in the Island of Zeilan, where great quantities are found of a fleshy colour, esteemed but ⅓ in value, called by the Indians Manecas, which being mundified by the fire are made Carbuncles. Carbuncles. There is also found in Pegu, another kind called Spinella with us, Spinella. and by them Caropus, esteemed at half the value of Rubies. And in the like estimation were another kind found in Balassia and so called, Balassia. much like unto the colour of a rose. Saphires in the Island of Zeilan, the hardest are best, Saphiers. and of azure colour. Topasies in the same Island, of colour like beaten gold, Topasies. the hardest are best, and were sold for their weight in gold in times past. Turqueses found in Malabar, Turqueses. being of Turquers colour by the day time, and by night by the light green: they grow upon a black stone, whereof those retaining some little black veins, are the better. jacinths (in the Island of Zeilan) are tender yellow stones, jacinths: and have commonly pimples or burbles in them. Emeralds or Smaragds (being hard and green stones, Emeralds. found in the country of Babylon, and other places of India) were of great estimation before the quantity discovered in the West-Indies, many of them are counterfeit: But by looking on them curiously towards the light, the counterfeitnesse appeareth by certain burbles, like as the glass doth; which is not in the true stones, although certain beams appear, which true stones being rubbed on the touchstone, leave the colour of gold, and the counterfeit the colour of copper, for they are made of an extraction of copper. The ancient Philosophers have determined that Sulphur and Mercury (being the originals of all metals) are engendered of vapours and exhalations, Original of precious stones. and the like origen they ascribe unto all Precious Stones: which caused Artists to take the same into their consideration both for the said Stones, as also for Gold and Silver, whereof I do entreat more in the Chapter of Mines Royal etc. All these stones being out of request with us, are to be bought for Russia and other places, as the buyer findeth cause. Pearls of all sorts are most found in the West-Indies, which are Occidental, East-India Pearls. and yet bear the name of Oriental Pearls which come from the East-Indies, and although they have more lustre, they are of a brownish colour, and somewhat inclining to the yellow, and therefore of less estimation and price, which at the beginning of our East-India trade was as followeth. ll. s. d. Of one Carrat 1 ½ Pardaos is 0 7 6 Sterling. Of 1 ½ Carrat 3 Par. 0 15 0 Of 2 Carrats 6 Par. 1 10 0 Of 2 ½ Carrats 8 2 0 0 Of 3 Carrats 12 3 0 0 Of 3 ½ Carrats 16 4 0 0 Of 4 Carrats 20 5 0 0 Of 4 ½ Carrats 25 6 5 0 Of 5 Carrats 30 7 10 0 Of 5 ½ Carrats 35 8 15 0 Of 6 Carrats 40 10 0 0 Of 6 ½ Carrats 45 11 5 0 Of 7 Carrats 50 12 10 0 Of 7 ½ Carrats 60 15 0 0 Of 8 Carrats 70 & 80 20 0 0 Aliofar, which is small Pearl sold by the juera, or Sorts which cometh from the fishing of Comorin, worth The 1 juera 330 reis The second 180 The third 80 The fourth 18 The fifth 8 West-India Pearls. Anno 1587. And above this weight there is no proportion observed, but it is mere estimation, as is noted in Diamonds, especially in the West-India Pearls, being of a clearer white water inclining towards blue, whereof I bought a great quantity of sir Francis Drake knight, which he brought from Carthagena, a city of the Island of Santo Domingo, being all unholed and brute, of several sorts, called Rostillo of 40 ss, the ounce, half Rostillo of 30 ss, Cadenilla of 4 ll the ounce, half Cadenilla 3 ll, Pedraria of 60 & 80 pieces in the ounce 7 ll, and half Pedraria of 100 to 110 pieces in the ounce 5 ll. Also great unproportionated Pearls called Barocos, according to estimation and goodness, as these prices were made at Paris, and when they are hole or boared and stringed up in four sorts, called Entreneto, and put into boxes, than they are sold one with another according to their sorts, for 4 or 5 ll the ounce: diverse flat Pearls serving for buttons, Round Pearl put upon papers are sold by the piece according to their bigness and fairness. Seed Pearl to stamp for Apothecaries at 8 and 10 ss the ounce. Round Pearls of all sorts of this water, valued at Paris as followeth. Of ½ a Grain 2 Solz tornois 2 d ⅖ star. Of ●/4 Grains 2 ½ 2 d ⅗ Of 1 Grain 4 4 d ⅘ Of 1 ●/4 Grain 6 7 d ⅕ Of 1 ½ Graine 10 12 d Of 1 ¾ Graine 13 is 15 d ½ Of 2 Grains 16 19 d ⅕ Of 2 ¼ Grains 18 21 d ⅗ Of 2 ¾ Grains 30 3 ss Of 3 Grains 40 4 ss Of 3 ¼ Grains 50 solz 5 Of 3 ½ Grains 60 6 Of 3 ●/4 Grains 70 7 Of 4 Gr. Carrat 80 8 Of 4 ¼ Grains 90 9 Of 4 ½ Grains 100 10 Of 5 Grains 120 12 Of 6 Grains 240 24 Of 7 Grains 460 46 Of 8 Gr. is 2 Carrats 60 Pearls of a Carratt are worth now ten shillings, and the other sorts under the same, or above it, accordingly. I had 1600 of a Carratt, which were sold for 9 ss and 900 of two Carrats, sold for 36 shillings, and many fair pendants, whereof no price can be made in certainty, they must have the due proportion of a Pear, and be of excellent water. Yellow Pearl, is not worth half the price of the East India brown Pearl, albeit they be a little helped to make them whiter, for the Proverb is true, Quod natura dedit, nemo tollere potest; but if they be yellow accidentally, than they will become very fair by the remedy following. Take two ounces of white Argall or Tartar, and one ounce of Mercury sublimate, and 1 ½ ounce of Allome, put them together into a clean pipkin or leaded pot, pour upon it the best Aqua vitae you can get, and bind your pearls into a clean clout, and hang them in the pot, and so let them stand over the fire one hour, not touching any part of the pot, and they will be fair and white. If they be great round Pearls they may be scaled, for naturally the Pearl is like unto an Onion, scaling one upon another. I remember that a friend of my acquaintance, called Mounsieur Hellman told me many years since, that during the minority of Philip the third, late King of Spain, he shown unto him two excellent great round Pearls, which he valued at ten thousand ducats, or three thousand pounds: which the young Prince took in his hands, saying, Bocado por un Roy (A morsel for a King) and swallowed them down one after another. The Merchant made account to receive money for his Pearls, but he could not, and was glad within two days after to take his Pearls again, which by the heat of the stomach were become yellow; coming to Antuerp, a certain jew undertook to take off the upper scale, and so they were exceeding fair again, but diminished: they were afterwards sold to the great Turk for above two thousand pounds' starling. Thus much for Oriental and Occidental Pearls, where note that the weight for Pearls in Seville, is lesser than the weight of Lisbon by eight in the hundreth: the climate in the East is hotter than in the West, and the water more faltish, which causeth the diversity of colours. In Scotland are many times found pretty store of Pearls, and the climate being colder, maketh the colour of them to be dim, albeit I have seen some very fair, and pendants also. The small Pearl is also very wholesome in medicinable Potions. Of the Commodities of Great Britain. England. THe Commodities of Great Britain, containing the Kingdoms of England and Scotland and the dominion of Wales, are rich, and Staple wares, and very abundant, with a continual increase, namely: Woollen Clothes of all sorts, broad and narrow, long and short, called and known by the names of several Shires, being 250 thousand Clothes made yearly, besides the new Draperies of Perpetuanaes', and the like commodities. Tin, wrought and unwrought, above twelve hundreth thousand pounds yearly. Led transported and used, above eight thousand Fodders every year. Allomes made in abundance, above seven hundreth Tons yearly. Copperas made according to the quantity used, some 250 Tons yearly. Iron of all sorts, setting 800 Furnaces on work. Iron Ordnance, or cast Pieces, according to occasion made. Wools and Woolfels, and Calf skins in great quantity, and Conie skin's. Stockings of all sorts of Silk, Wool, and Yarnsey, Yearn and Wools. Buffins, Mocadoes, Grograines, Satins, Calamancos, Velvets, Worsteds, Sarges, Fustians, Durance, Tukes, and all other Norwich wares and Stuffs. Saffron the best that can be found in any country. Glass and Glasses of all sorts, Venice gold, Sea-coal, and Salt. Scotland. Scots-coale, Wheat, Barley, and all kind of grains in both Kingdoms. Linen Cloth, and all Ironmongers wares, Hides, Tallow, Leather, dressed and undressed, Train Oil, Salmon, Pilchards, Herrings, Hake, Conger, Red-Herring, Hops, Woad, Butter, Cheese, Beer, Saltpetre and Gunpowder, Honey and Wax, Alabaster, and many other Stones. The Commodities of the Kingdom of Ireland, are Ireland. WOolles, Felles, Yarn, Furs, Flax, Linen Cloth, Hides, Tallow, Hemp, Honey, Wax, Herring, Cod, Hake-fish, Salmonds, Eels, rugs, Mantles, Irish Cloth, Pipestaves, Iron, and Led, Wheat, and all kind of grain, Salt-beefe, Butter and Cheese, and many Manufactures. The Commodities of the Kingdom of France, are Wine's, Prunes, Canvas, Linen cloth, Salt, Velvets, Raw silk, France. and diverse stuffs of Silk, Buckrames, Boxes with Combs, Paper, playing Cards, Glass, Graine to dye, resin, Wheat, and all kind of Graine corn. The Commodities of Spain and Portugal, are WOols, Madera Sugar, Almonds, Wines, Oils, Annyseeds, Spain and Portugal. Anchovies, Bay-berries, Bariglia, Figs, Raisins, train-oil, Iron, Oranges, Lemons, Sumacke, Saffron, Soap, Coriander, Cork, Liquorice, Woad, and the commodities of the West Indies, Sugar of Brazill, Fernandebucke Wood, Tobacco, and other commodities. The Commodities of Italy, and certain Lands. VEnice Gold, Velvets, Sattines, Cypress, Silks, Italy. Cloth of Gold and Silver, Cottones, Fustians, Wines, Currans, Cloves, Rash's, Rice, Sarcenets, Raw Silk, Allomes, and Vitriol, Glasses, and other Manufactures. The Commodities of Germany and places adjoining. WOolles, Argall, Steele, Latin, Copper, Iron, Germany. and all kind of Manufacture made of them: Copperas, Allomes, Led, Fustians, Paper, Linen cloth, Quicksilver, Bell-mettall, Tin, Rhenish Wines, and Mather. The Commodities of East-land, and thereabouts. AShes, Bowstaves, Cables, Canvas, Buffe-hides, Flax, Hemp, Eastland. Honey, Wax, Stockfish, Spruce Iron, Match, Wheat, Rye Meal, Woolles, Waynscott, Pitch and Tar, and Linen cloth, Cordage and Ropes. The Commodities of Denmark, and Norway, and Sweaden. WHeat, Rye, Woolles, Deals, Clapboord, Pipe-staves, Denmark, Norway & Sweaden. Masts, Wainscot, Copper, Timber, Fish and Furs, Allomes in some places. The Commodities of Russia. Russia. TAllow, Hides, Caviar, abundance of rich Furs, Black Fox, martin's, Sables, and the like: Honey, Wax, Cables, Ropes and Cordage. The Commodities of Barbary. Barbary. GOat skins, Almonds, Dates, Aneale, Gum, Feathers, Saltpetre, Gold plentifully: and from Guynea, Hides, Oliphant teeth, and Graine. The Commodities of the Low Countries. Low Countries. Tapestry, Battery work, Steel, Cambrics, Lawns, Hops, Mather, Butter, Cheese, Grograines, Bozatoes, Chamblets, Mocadoes, Brushes, Tape, Linen cloth, Pots, Bottles, Wheat, Rye, Salt, Chimney backs, Blades, Horses, Soap, Fish, Herrings, Cod, Ling, and many things, as Diaper, Smalt, Hoops of Iron. The Commodities of the West Indies. FRom the Low Country beginning the West India Trade, let us set down the commodities of it, seeing that the States of the united Provinces have made lately a Society of Merchants, bearing date the ninth of june 1621., wherein other Nations may be advenrors, as by their letters Patents appeareth; prohibiting all other their subjects or inhabitants, that they shall not trade from the said countries, nor out or from any other kingdom and country whatsoever, Letters Patents for the West India Trade by the States, etc. unto the coasts and countries of Africa, from Tropicus Cancri, along to the cape of Bona Speranza, neither in the countries of America, from the South end of Magellanes le Mary, and other straits, to the straits of Anian on every side, Nova Guinea included, upon forfeiture of the ships and goods and all their possessions, within their jurisdiction and command, and arrests of their persons, unless they be of the said Company made and established for the West India Trade. Gold and Silver, Cucheneale, Sugars, rich Indigo, Donnigo Ginger, Pearls, Emeralds, Hides, Campeche or Logwood, Salsaparilla, Tobacco, Canafistula, Cocos-wood, Lignum vitae, Cottonwooll, Salt, and some other drugs for Physic or dying of Stuffs. And this may suffice for a declaration of the principal commodities of most countries. CHAP. VIII. Of Commutation or Bartering of Commodities. WE have compared Commodities unto the body of traffic, which did uphold the world by commutation and Bartering of Commodites before money was devised to be coined, whereof we are now to entreat. For commutation, barter, or truck of Commodities was first effected in specie, by delivering one Commodity for another according to the commodious and behooveful use of man; so that one did deliver so many measures of Corn for so many measures of Salt, as was agreed upon; another so many pound of Wool against so many pound of Pepper, Sugar, or other commodities; an other so many pieces of such a commodity for such a commodity; or so many Hides for one bar of Iron, or so many pieces of Silver uncoined, but weighed and exchanged, as yet is used in some places of America, Barbary and Guynea, and other countries. This may be properly called an exchange of commodities, or rather a permutation of commodities; albeit the Civilians, when there is scarcity of Gold and Silver in a country, and when the commodities in value surmount the money paid for them, they do call that a permutation, and deny the same to be an emption by their distinctions; how soever, this manner of commutation or barter was made by number, weight and measure of commodities in kind: but moneys being invented and valued by the public authority of princes according to their several stamps or coin, and by common consent made Publicae Mensura, or the public measure to set a price upon every thing. This commutation, barter, or exchange of commodities for commodities, was, and is (since that time) made according to the rule of money, whereby every man setting a price unto his commodity, doth sell and barter the same as he can, with a respect of the necessary use or request had of the commodity, and of the quality and goodness of the same, being either corruptible commodities, or staple wares more durable, whereby all metals and minerals came into greater estimation, and the purest was most valued and esteemed, even in the very traffic by commutation when moneys were not coined, and commodities were dispersed by commerce between nations by an interchangeable course, supplying each others occasions and necessities, according to the use of commodities. Commutatio negotiativa. This commutation is called Negotiativa, because things are commuted for to sell again by way of negotiation, which is either by selling or delivering commodities for commodities in specie, as aforesaid; or by the rule of money in buying and selling the same at a price agreed or concluded upon between the parties contracting for the same: In the estimation whereof we are to have a due consideration, That riches being natural and artificial, and both valued by money, there is required a certain equality in the said estimation, proceeding of the consideration between this natural and artificial riches. And as there are three temporal things for the behoof of man, namely Food, Houses, and Apparel: so must we account all the things serving thereunto accordingly, and the scarcity or plenty of those things also according to the use of them; having always a regard and care not to pay too much for the things serving for the belly, (especially such as in some sort may be spared or forborn) and not to sell too good cheap the things serving for the back, or in effect to barter them for superfluous things, always admitting civility (which albeit that men account that civil, which is according to the manner of every country as the proverb is, country's fashion, country's honour:) yet reason must rule herein, with a due consideration of God's good creatures and gifts, which cannot be done without an unfatigable industry, both in discerning the variety of them, and in observing their infinite number and pure creation; in which regard precious things have their estimation, so that the same civility must be reduced to the good of the commonwealth, and for the upholding of the same, living together in christian society, giving so fare place unto reason, that every man may endeavour himself for the preservation of the weal public, and conceive generally, that other nations (not endued with so much reason) are always inferior unto us in that regard, even considering all men alike in an estate of politic government. Who seethe not then that without any cause of admiration, some men do wonder at the simplicity of Brasilians, West-India, and other nations, as they of Barbary, or Africa, in giving the good commodities of their countries, yea Gold, Silver, and precious things, for Beads, Bells, Knives, Looking-Glasses, and such toys and trifles? when we ourselves commit the same, in giving our staple wares for Tobacco, Oranges, and other corruptible smoking things, or superfluous commodities bought at dear rates, to the loss of the commonwealth: whereby cometh an overbalancing of foreign commodities with our home commodities, which draweth away our treasure and ready moneys to the incredible loss and impoverishing of the realm. This commutation negotiativa ought to be the study of Politicians or Statesmen, as a principal matter of State for the preservation and augmentation of the wealth of their Commonweals or Monarchies, where they sit to direct the ship of traffic; as skilful Pilots observing all accidents which happen to the three essential parts of trade and commerce already declared, and to be amplified in our description of this customary Law of Merchants. This Study consisteth in two points, namely in the consideration of the value of the things commuted or bartered between country and country, according to their use; and in the charges of manufacture of those things, and the manufacture of other things exchanged for the same by way of traffic and commerce. Worthy of commendation was the Mayor of Carmarthen town in Wales, The due commendation of the Mayor of Carmarthen. who (perceiving the Spaniards to import Oranges and Lemons, and to sell them continually for ready money, and to export the same without buying any of their country commodities being Staple wares, and theirs very corruptible and many times half rotten) caused a proclamation to be made, That no man (for the space of three days) should buy any of those Oranges and Lemons: and within that time they were all spoiled, and so the Spaniard went home by weeping cross, and afterwards sold his Oranges better cheap, and bought commodities for his return. Touching the price of manufactures, the labour and charges of workmen is to be considered on either side, and what the commodity may be in the wearing or use thereof, and to what purpose or profit the remainder may be employed. As for example, If silk Lace be imported, after the wearing it is nothing worth: If Venice Gold and Silver be imported, there will remain about the one half in Silver, albeit the same be sold dear unto us; which is very tolerable, if other of our manufactures, or Cloth, be exported for the same, whereby the people are set on work to maintain a common society. But when Tobacco is imported, Hindrances by Tobacco etc. and leaveth nothing but smoke, which is not only bought at dear rates, and doth hinder importation of Bullion or Ryals of Plate; but is also the cause that our home commodities, as Cloth, Bays, Perpetuanoes, and Says, are sold to loss by the buyers of Tobacco; which causeth the price of our commodities to be abated, and the realm to lose above forty thousand pounds yearly by this negotiation of barter: Statesmen therefore might in this particular, take some course that every man should not make employment in Tobacco in Spain, or beyond the seas, but that the licenced buyers thereof should make over so much money by exchange as were needful for a competent quantity, to be proved by good and true certificate that the same hath been performed accordingly. On the other side if Venice Gold and Silver thread, Spangles, and O's, shall be thought convenient to be made in England; then (to procure the Silver in plates cut or uncut to be brought over of the sterling Standard, or so much in Bullion as may make the quantity required) may be thought expedient, if (in regard of civil reputation of the kingdom) we will not prohibit the importation of it by course of traffic. But considering that after wearing the same with reputation, it leaveth almost the one half of his value. There is no pregnant cause to find so much fault with it, as some men do. The like consideration is to be had for such manufactures, whereof the very pieces or rags may be used to some purpose, as of Linen to make white paper, of fisher's nets to make brown paper, of skins to make glue, of beer leeze to make Aqua vitae and the like. And here we may not omit how Almighty God by his divine providence ruleth many times this negotiating commutation, when the harvest of Corn faileth in one country, and is prosperous in another country, whereby this trade of barter by the rule of Money, doth very much augment, and the price of Corn becometh to be much dearer: Albeit the price be reasonable, considering the Fermer may by the cheapness thereof be made unable to pay his rent. And God, who doth every thing for the best, showeth unto us how one nation may have need and occasion to use the help and means of other nations, and which is more admirable to be noted, God in the permitting of it, may have some other work in hand to manifest his glory, or to relieve his children by unexpected means; As the sending of the children of jacob into Egypt for the want of Corn to maintain themselves, doth demonstrate unto us. The like may be applied for Wines, Salt, and other commodities for the sustenance of man, which (although they be corruptible commodities) may, contrary to our former assertion (by this accidental or casual extremity) be preferred in estimation of the Staple commodities, which are durable, and become valued only by Gold & Silver, which is the cause that Spain and Portugal being subject to have dearth of Corn, do permit the exportation of Silver and Gold in return of the provenue of it and other victuals, Gold and Silver bartered for Corn and Victuals. whereby we find that those countries, by reason of the West-Indian treasure, being from time to time provided with Silver and Gold coin, are nevertheless most destitute of the same, bartering as it were in effect, their Silver and Gold for Corn and other provisions; and, having their countries stored with mere copper Moneys. This treasure passeth from them as if it were conveyed by a channel: and (because of the abundance of their said Copper moneys) is not so sensible unto them, as it is unto other countries which have not the use of the like Copper moneys, which is diverse ways to be considered, especially in the time of wars, when moneys are called to be the sinews thereof, or Nervi Bellorum, which by mere Copper moneys can never be understood, howsoever necessary (in some measure) for the commutation of petty bargains and contracts, whereof more hereafter in handling the matter of Moneys. To make application of this negotiating commutation in the price of Commodities, it is to be proved by diverse ancient Merchants books, that within the age of a man, or seventy years, the price of foreign Commodities with us is fare more risen than the price of our home Commodities; which by way of Antithesis is worthy the observation. Redding colour, and other mingled colour Clothes, did cost 9 ll the Cloth then, when Black Velvets were sold at 10 shillings the yard; and now the said sort of Clothes are sold but for 11 ll and 12 ll the Cloth, and Velvets at 26 shillings the yard. Pack Clothes white, at fifty pound the pack of ten pieces, Cramosin Velvets at 12 shillings the yard. And now Pack Clothes of the same mark, at ninety pound, and a hundreth pound, and Cramosin Velvets at thirty shillings the yard. Wool the Todd of 28 ll weight, at 12 shillings, Black Satin at 5 shillings the yard; Wool now above 20 shillings, or thereabouts, and Satin 15 shillings. Calf skin's the dozen 5 ss; Fustians the Bale of 40 ½ pieces, at 12 ll the Bale; Calf skin's now at 10 ss, and Fustians 36 pounds, and Milan Fustians at 18 and 20 shillings the piece, now at 3 ll and above. Says of Norwich, at 20 ss the piece and upwards: Messina silk 8 ss the pound; Says are about 40 ss, Foreign ware● risen, 3 to, 1. and Messina and the like silk above twenty six shillings. Northern Carseyes then 18 ss, Spanish Soap 20 ss, now 50 ss, and Carseyes 22 ss. Seville Oil, the Tun 12 ll, now 35 ll, and many times above forty pound. French Wine at 5 ll the Tun, now 20 ll, or thereabouts. Long Prunes 5 ss, now 15 and 16 ss; Sugar 6 pence the pound, now 14 and 16 pence. Malmeseyes' 5 ll the Butt, now 18 ll and 20 ll; Cotton Wool 4 d. now 15 d. and diverse other commodities accordingly. So that an angel would have bought one yard of Velvets, now three Angels or pieces of gold can be exported for the same. Ten Angels would have bought a Tun of Claret Wine in England, which is now sold for above twenty pound, and twenty four pound. Besides that, our Cloth is better made than in those days, albeit not so good as it might be made; victual and wages are dearer, and Woad, Mather, Oil, and colours are extremely risen. A Merchant might have sent or carried with him one pack of Clothes, white, broad, or narrow lists, and brought in return one Chest containing nine or ten pieces of Velvets: whereas now he cannot bring above three or four pieces in return thereof. For a Redding Cloth sold beyond the Seas, he might have returned one Bale of Fustians; whereas now for the value of one Bale of Fustians sold in England, a Merchant must buy and export three Clothes. A London mingled colour cloth, would have bought at Lisbon two chests of Sugar; now one chest of Sugar will draw two Clothes out of the Realm: So a Kentish Cloth would have bought at Seville a Tun of Oil and more; now one Tun of Oil doth countervail three Clothes and more, and other commodities accordingly, giving (as it were) three to one in specie for foreign commodities. Commutation is compared unto monies in kind. Compare this commutation to the monies enhanced in the Low Countries, Germany, France, and some other Countries (which is the same money still in specie for weight and fineness, and only the valuation is altered) and you shall find that within the said time of seventy years, an Angel worth ten s. then, is now above twenty s●illings; a French Crown six shillings, now twelve shillings six pence, and all other coins accordingly, or thereabouts: whereas in England there is no momentary alteration of the monies, as hereafter shall be made more apparent. And the like consideration will also be had concerning the Exchanges of monies by Bills of Exchanges. Some men are of opinion, that selling our home commodities good cheap, maketh a lively trade, augmenteth commerce, and maintaineth all the dependences thereupon, by setting the people on work, employing Ships, and augmenting the King's Customs and Impositions: But they never consider two principal points whereby the wealth of Kingdoms and Commonweals increaseth or decreaseth, namely: Inconveniences to sell commodities good cheap. If commodities imported unto us, be dearer than in times past, as we have noted, and our home commodities are not sold proportionably in price, but we will endeavour still to sell good cheap: who seethe not that this bringeth an evident over ballencing of commodities in price, which is to be balanced by the treasure and monies of the Realm. Again, if our home commodities be sold too good cheap, other nations can make a trade thereby for other countries, and overthrew the trades of several Societies of the Realm. We have seen in times past, that the Western colour Carseyes were sold at Norenborough in Germany, to the great loss and hindrance of the than Turkey trade; and at this present our Suffolk clothes are sold so good cheap beyond the Seas, at Amsterdam and other places, that they have made a large trade for Russia and East-land with our home commodities, and thereby overthrown our trade by preoccupying the Markets, and engrossing the commodities of those countries aforehand. From Zealand there is a trade established for Barbary, with the said clothes sold unto them, thereby preventing the trade of English Merchants, which yields them but little profit, and the commodities which they bring in return (as Hides, Almonds and other things) are better vented beyond the Seas, where our Merchants are forced to transport them, and the gold which they bring affordeth but little profit; The times and seasons of trade are variable. so that to make commerce to be a pastime, is neither beneficial to the Commonwealth, no● to particular persons. The times or seasons of Traffic and Trade are mutable and subject to accidents, which is the cause that at some one time, commodities are well vented, and at another time not; the rash sale is not the profitablest. Have not we found of late years, that cloth was sold in greater quantity, and at greater prices, when the Todd of Wool was sold at 32 and 33 shillings, and clothes accordingly, than now when Wool is sold for 18 and 20 shillings▪ The revolution of things may alter again and revive trade; if not, procure you to have foreign commodities better cheap, whereof you have not so much need, as they have of ours. Strive not to undersell others to the hurt of the Commonwealth, under colour to increase trade: Causes increasing trade and comme●ce. for trade doth not increase when commodities are good cheap, because the cheapness proceedeth of the small request and scarcity of money, which maketh things cheap: So that the contrary augmenteth trade, when there is plenty of money, and commodities become dearer being in request. Concerning the particular barter or truck with Merchants, every man doth know who dealeth therein, Particular barters. that this is done with such dexterity, to take advantage in the price of their commodities one against the other, that commonly either the one or the other findeth himself aggrieved: For the overreaching therein, is accounted an usual and ordinary practice, and the commodities thus bartered are plentiful, and not in request; whereby it cometh to pass, that to have good commodities (which are vendible at all times) there is part given in ready money, or in Bills payable at short days of payment; whereby many Merchants are overreached, and can have no remedy by law nor equity. Hence the Proverb is derived, Caveat Emptor; for it is a buying and selling, implying an advantage intended by both parties, how soever they will seem to colour the matter. So that the Proverb is not to be understood, upon all bargains of commodities whereby a man becometh a loser; and he that dealeth in barter must be very circumspect, and the money given in barter cannot be overset: Whereupon a principal Merchant of London, made once a barter, in hope to overreach another Merchant, and they both being resolved to do their best endeavour therein, agreed to esteem and value their commodities at a high rate: A cunning commutation. but withal the great Merchant, would have the one moiety (of the some they should barter for) in ready money, and so the more he did overualue his commodity (which was cloth) the more money was the other to lay out. The bargain came to one thousand pounds starling, whereupon the party paid five hundreth pounds in ready money instantly (for all was done in two hours:) and delivered him also forty half pieces of Lawns, at a certain price the first piece, and in every two or three pieces raising the price, as the manner is in that kind of commodity. The great Merchant had overset his commodity or clothes fifty upon the hundreth, and the other Merchant (that could not overset his money) had valued his Lawns at a very high rate of three for one at the least. For all the said forty half pieces of Lawns were sold for 120 ll payable at two year's day of payment, and by the cloth there was not lost above one hundreth pounds. Hereupon long after the said parties fell at variance, the cause was by them compromitted unto very sufficient arbitrators, Merchants, and they did approve and confirm the said Commutation and Barter to be good, for that the commodity was Merchantable, and they had endeavoured to try their wits to overreach each other. And moreover they awarded, the great Merchant to pay charges, and willed him to remember the old Proverb, He that buyeth Lawn before he can fold it, will repent before he hath sold it. But these particular commutations between man and man are not hurtful to the Commonwealth, unless they be between us and foreign Nations in the plurality of the things commuted between us and them. A Rule for commutations To prescribe therefore some kind of Rule in Permutations, let us observe that there is (in effect) Three kinds of them, and may be distinguished and said to be, Discreet, Temperate, and Desperate. Discreet commutation. The Discreet is, where (without any compulsion, or of course) one kind of commodity is, either in specie, or according to the rule of money bartered or delivered for another commodity of another Kingdom; as the bargain was to deliver Sea-coals of Newcastle, into France for Salt, paying the freight on either side equally between them. Temperate commutation. The Temperate Commutation is, where a Merchant doth expect a convenient time for the selling of his commodity, according to the accidents and occasions offered, and doth not overthrew the Market of others (that have the like commodity to sell) by his rash sale. Desperate commutation. The Desperate Commutation is mere opposite unto it, where a man either for want of discretion, or upon urgent necessity to supply his credit and occasions, selleth or bartereth away his commodities, for other foreign commodities to return homewards. In all which great discretion is to be used, and this aught to be a principal study for Societies and Companies to look unto. Albeit the same is not of such importance, as the buying of foreign commodities at dear rates, when Merchants strive to engross them, upon the arrival of Ships, as (for Corrints) hath happened at Zante and Venice. CHAP. IX. Of ordinary buy and sellings of Commodities. Every man knoweth that in the buying and selling of commodities, there is an estimation and price demanded and agreed upon between both parties, according to a certain equality in the value of things, permuted by a true reason grounded upon the commodious use of things: So that equality is nothing else but a mutual voluntary estimation of things made in good order and truth, Definition of equality. wherein inequality is not admitted or known. And the seller is to sell his wares according to the common estimation and course, at such time as he shall think convenient, unless it be for victuals and munition, wherein necessity compelleth him to sell for the general good, by the interposition of the magistrates by whose authority he can observe no time, but must sell, taking a reasonable gain for the same: for the estimation is also the greater upon such occasions and accidents, when the selling of a thing is not according to the goodness of the nature of the thing, but rather according to the usefulness of it to mankind; and therein the condition of the thing is to be considered, which may decay and be subject to corruption in quantity, quality, and substance, or which is not subject thereunto. True it is that there can be no rule prescribed or taught how to buy and sell, which is lawful and unlawful, or just and unjust, by any wise man whatsoever, because the children of this age are wiser than the children of light in their generation and calling; which is the cause that some Divines (having written hereof) do proceed with great moderation, Tho. Aquinas, Scotus, and others. observing that the transferring of things from one owner unto another, is effected five manner of ways by private persons. 1 By Donation, which is altogether of free gift, according to the saying recorded, Luke the sixteenth chapter, Mutuum date, Five means to transferthings nihil inde sperantes. 2 By Permutation, Do ut Des, I give because you should give: as the proverb is, Si mihi des, tibi do, si nil des, nil tibi reddo: Hoc verbum do, das nutrit amicitias. 3 By Emption or buying of things. 4 By Vendition or selling of things. 5 By active mutuation, or mutual giving or lending of moneys. Eleven conditions in the buying and selling of things. And in buying and selling of things, there are required eleven necessary conditions; First, a consent in the selling; secondly, a power to sell, the like in the buyer; thirdly and fourthly, consent and power; fifthly and sixthly, some conditions on either side, agreeing in the transferring of the thing; seventhly, that the same be honest; eighthly, also lawful; ninthly, and tenthly to be without unreasonable conditions, to buy and sell the same again; eleventh, that it be an absolute irrevocable bargain. And herein is the law of nature to be regarded and observed, Quod tibi fieri non vis, alteri ne feceris, or do as you would be done unto: Yet if I have occasion to buy that which another is about to buy, it is lawful and just for me to buy the same. Three things to be observed in the selling of things. But to avoid suspicion in selling justly or unjustly, three things are required; First, the buyer to be expert in the commodities he buyeth; secondly, that he be not too needy, or constrained to buy; and thirdly, that persuasive reasons be ommitted, which cause the party to buy dearer. The Civilians (affirming, that probability to prove the estimation of a thing is sufficient, whether it be more or less worth) do admit that a man may sell dearer unto an expert man, than unto a simple man; and to sell dearer than the thing is worth by common estimation, is adjudged by them to be always unjust: as also to use reasons and inducements to sell wares the dearer, neither is the seller to demand or expect any thing above the price agreed upon. And entreating hereof, they make large discourses, which I do admit to handle for the reasons aforesaid. Buying and selling, say they, is done two manner of ways, First that the thing be so bought, that all power of pretence be avoided, which is giving a thing at a certain price for the thing: and secondly, that the thing sold be as a gift for that price, which in substance may be said to be a plain, absolute, and lawful bargain, sold (as we say) in open market or shop, Selling in open market or shop. in so much that there be not a curtain to hide the commodity so bought and sold: howbeit in all fairs and markets in the parts beyond the seas, a Tradesman's shop, and a Merchant's warehouse is taken to be public and open at the appointed times. They have also determined, that a seller may not demand a greater price for the forbearance of his payment or satisfaction of the thing, but he may well diminish the price, if the buyer do satisfy him the sooner, Payments by anticipation. and before the time of payment, by way of anticipation, which nevertheless resteth in his power to accept thereof, or to expect the time. But this is commonly done (not by abating of the price of the commo ditie, because money hath made a certainty of the total sum of the said commodity) but by allowance or deduction of the interest of the said money for the time to come and unexpired, according as they make their agreement of the price of interest. To conclude the premises touching buying and selling, we find, that no man in selling any wares is bound to declare, whether any quantity of the like wares are to be had or expected when he selleth. CHAP. X. Of Suretyship and Merchants Promises. Having entreated of the ordinary buying and selling of commodities, either for money to be paid at some days of payment, or for wares to be delivered by way of permutation, (wherein many times a third person is interposed, or it doth merely depend upon the parties promise) it may seem convenient to handle the point of Suretyship and Promises. For albeit as the Civilians say, A bare or naked covenant. that Nudae pactio obligationem non parit, exceptionem parit, a bare or naked covenant bindeth not, but breedeth exceptions; this is to be understood upon contracts, and where no sureties have made any promise: But otherwise if any merchant do pass his word for another; it maketh him liable, as fide inssor to perform the same, and the act done before is a sufficient good consideration, and they all agree that bona fides inter mercatores est seruanda, Faith or trust is to be kept between merchants, and that also must be done without quillets or titles of the law, to avoid interruption of traffic, wherein his Suretyship is to be considered according to the promise; for if it be conditional, if such a man do not pay, than the other to pay the same within a time, or to save him harmless: it is first to be demanded of the Principal, and if he do not pay, than the Surety is to pay it without any course of law, unless he be ordered by the Court of Merchants to perform the same, because that thereby he may also the sooner recover the same of the Principal for whom he did give his promise. It is also a custom amongst Merchants, that if a Merchant be indebted unto another, and thereupon intreateth another merchant to desire the creditor to respite him some time for the payment of it; if then the said merchant the debtor do not pay accordingly at the time, he shall be taken pro confesso, and sentence shall be given by the Merchant's Court for the payment thereof, only upon proof made, that he did will another to crave the said respite of time for the payment. The like is done by the Common law of England by trial of juries of 12 men, upon proof made by evidence produced before them, that the debtor did crave day of payment, so that they will thereupon deliver their verdict, and judgement and execution may be of course had for the same. But if the promise be not conditional, then is he an absolute Surety, and is to pay the same accordingly, as merchants of credit always have done. To become a surety unawares. A merchant may also be come in the nature of a Surety unawares, or unknown unto him, as befell unto a friend of mine not many years since at Frankford in Germany, who during the Mart or Fair, went into a merchants Warehouse to confer of some business with him, where he found another merchant of his acquaintance to cheapen some parcel of silk wares with the said other merchant, to whom this man (as it seemed) was unknown; whereupon the seller of the said silk wares took occasion to ask my friend whether he were a good man and of credit, and he answered he was, so the bargain was made, and goods were delivered unto the said merchant the buyer, to the value of 460 ll, for the which he made a bill obligatory, payable the next Fair following: at which Fair (the party not appearing) demand was made of my friend to make payment of the said 460 ll, because the party was absent, and withal some doubt was made of his sufficiency; my friend had not so much as remembered that any such question was demanded of him, but the party did put him in mind of it by circumstances, and would be paid of him, he in defence did allege it to be nudum pactum ex quo non oritur actio, and so not bound to pay the same, as having had no consideration for it. The opinion of merchants was demanded, wherein there was great diversity, so that the Civil Law was to determine the same; and by the said Law according to the title de mandato consilij, he was adjudge to pay the said 460 ll, and to have the debtor's bill obligatory made over unto him, A caveat for merchants etc. whereof he could never recover one penny, although he did pay the whole debt and damages, for the party became insoluent. This may be a good caveat for merchants and all men; for if he had said, He is taken or reputed to be a good man of credit, or, I take him to be so; he had been cleared by the law, and the custom of merchants. Considerable promises. Some promises are considerable, according to reason, as if a man upon a penalty do promise another not to molest or trouble him; if the other give him cause of offence to break the same, he incurreth not the penalty; and a promise made to do a thing is always understood to be for the first time. So to make a promise that a pawn shall not be alienated, yet it is held by diverse that the same may be hipothecated unto another, so the pawn be preserved. Again on the contrary, if a shipwright do promise to build a ship for a merchant, and he causeth the same to be done by another, here the promise is broken by the Law, albeit this question is not material, for it is not like that the building of Ships can be done without contracts in writing, and only by bare promises. And the like may be said to the greatest part of all the questions, wherewith the Books of Civilians are freighted; so that for Merchant's understanding, the ancient ordinary Customs observed in the course of the said Essential Parts of Traffic, is plainly to be declared and distinguished from litigious questions. CHAP. XI. Of the Revolution of Buying and Selling of Commodities, by the course of Traffic. EVen, as the whole Commerce and Traffic consisteth of our Land Commodities, and some fishing on the Seas, and of the Commodities of foreign Nations; So from hence followeth, An efficient Cause of a kind of Revolution in buying and selling of Commodities: because the commodities of one country growing rank and abundant, are transported into other countries, in whose steed needful commodities of those kingdoms and countries and returned thither, which is a neighbourly lending between kingdoms and countries. For, as is noted, God caused Nature to distribute her benefits, or his blessings to several Climates, of diverse things found in some places, that are not in other places; to make an interchangeable course of the said commodities by way of merchandizing. This Revolution of Trade, Sundry means for buying and selling. may be illustrated by the consideration of the several means, whereby the said buying and selling are effected. 1 The first is, buying with ready money, For ready money. which is commonly the best, and with most advantage, for commodities are sold better cheap: wherein the knowledge of the goodness and necessary use is requisite. 2 There is also a buying and selling of Commodities, For ready money and paiable at times. paiable at some limited time or times of payment, or partly ready money, and partly at times: and the difference of price herein, is commonly above ten upon the hundreth more or less, as the rate of monies at interest are in the places of Commerce, where the said Commodities are sold or bought, and according to the plenty of money extant, unless the superaboundance of Commodities do alter the same, especially if the Commodities be perishable, by Corruption, Time, and Accidents; so that the condition, quality, or goodness of the commodity is much to be respected: which was the cause that when commodities did abound at the first, and the wealth of man was described by cattle and the like perishable things; all kind of metal (as being durable) was most esteemed, and the purest mettle taken to be fittest to make monies of, as hereafter shall be amply declared in our second Part. By Bills of Exchange. 3 There is another buying and selling of commodities, to be paid by Bills of Exchanges, that is to say, The Buyer giveth a Bill of Exchange, or many Bills to be paid by exchange in another place; as for example one buyeth five hundreth pounds worth (at London) in commodities, which are accounted in price, as if he had bought them for ready money, and doth give unto the Seller of the said commodities one or more Bills of Exchanges for Antuerp, Amsterdam, or any other place, to be paid according to the price of exchange which is made, or aught to be made, according to the value of the monies of one Country, and the value of the monies of other Countries, by weight and fineness, as shall be hereafter declared, and that according to the distance and discrepance of the time and place, where and when the said monies shall be paid by the Buyers friend, Factor, or Servant; and so the said Bill or Bills of Exchanges are paid accordingly for the commodities so bought. By money payable in Banks. 4 Another Merchant, having money in Banks, or in the Bankers hands at Amsterdam, or any other place where Banks are kept, buyeth some commodities in the said places, and casting up what the same doth amount unto; he goeth to the Bank and assigneth the Seller of the said commodities to receive so much money there, and the Bank (accepting thereof) giveth him satisfaction in the payment he maketh unto others, according to the manner of Banks hereafter declared. By a Letter of Credit. 5 Another buyeth some commodities there, or in any other place beyond the Seas, and for that purpose he hath a Letter of Attorney, called a Procuration, or a Letter of Credit, either from his Master or any other here at London, or elsewhere; who upon his Credit, hath promised thereby to pay the value of the said goods in some place beyond the Seas, according to a price of Exchange agreed upon between the parties here (and the like is done beyond the Seas to be paid here) which is still according to the value of monies in both parts, answerable to weight and fineness by way of Exchange. And the like is done between London and Exeter, Plymouth, Yarmouth, and many other places, upon the very same and uniform Coin, by Letters Missive between Merchants here and there. For Bills obligatory. 6 The most usual buying and selling of commodities beyond the Seas, in the course of Traffic, is for Bills of Debt, or Obligations, called Bills obligatory, which one Merchant giveth unto another, for commodities bought or sold, which is altogether used by the Merchant's Aduenturors at Amsterdam, Middleborough, Hamborough, and other places. For when they have sold their Clothes unto other Merchants, or others, payable at 4, 6, 8, or more months; they presently transfer and set over these Bills (so received for the payment of their Clothes) unto other Merchants, and take for them other commodities at such prices as they can agree with the Seller of them, be it Velvets, Silks, Satins, Fustians, or any other wares or commodities, to make return of the provenue of theirs; and so selling those foreign commodities here in England, they presently buy more Clothes, and continue a Revolution of buying and selling in the course of Traffic and Commerce, being so (in effect) as may be illustrated by example. Suppose A.B. the Clothier selleth to C.D. the Merchant one pack of Clothes, Example of of the Revolution in Traffic. for the sum of one hundreth pounds paiable at six months, and doth condition with him to make him a Bill in the name of such a man as he shall nominate unto him: A.B. the Clothier buyeth of D.E. the Gentleman, so much Wool as amounteth to one hundreth pounds, and doth intent to deliver him the Bill of C. D. the Merchant, in full payment of his Wools, and to cause the same to be made in his (this Gentleman's) name: But D.E. the said Gentleman, caused him to make the Bill payable to E.G. the Mercer, and the Mercer is contented with the like condition to accept thereof; but he caused the same to be made payable to C. D. the Merchant, of whom he buyeth his Velvets and Silks; and so in payment of them, he delivered him (by an Intermissive time) his own Bill, which he first should have made to the Clothier. And herein you are to note, that in the buying by Bills, it may be made payable to the Clothier, or to the Bearer thereof, and so all the parties are bearers thereof, unto whom the same is set over by Tradition of it only, which by a Retrograde examination will appear; and this is called a Rescounter in payment, Rescounter by Bills of Debt. used amongst Merchants beyond the Seas, and seemeth strange unto all men that are ignorant of this Custom, and yet do they perceive a reason for it, and cannot deny the commodiousness thereof. The Common Law of England, is directly against this course; for they say there can be no alienation from one man to another of debts; because they are held, Chooses en Action, and such whereof no property can pass by assignment or alienation; and many good Lawyers do wish as well as Merchants, that there were an Act of Parliament made for the establishing of the like course in England. By reason whereof, let us in the next Chapters handle this matter more distinctly, and declare the benefits which the Realm will receive thereby, and all Merchants and others negotiating for great sums. There are other manner of buying and selling of commodities, by Contracts, and upon Conditions and Casualties, which are to be declared in their proper places, whereunto relation may be had hereafter. CHAP. XII. Of the Transferring or setting over of Bills obligatory, between Merchants and others. WE have in some measure, in the precedent Chapter, declared the Use and Custom of Merchants beyond the Seas, in the Transferring and setting over of Bills obligatory, or Bills of Debt, which they give each to others for the payment of Commodities, bought and sold by way of traffic and trade, it resteth now to speak thereof more amply. For the sincerity of plain dealing hath hitherto been inviolable, The manner of Bills beyond the Seas. in the making of the said Bills, which every man of credit and reputation giveth of his own hand writing, or made by his servant, and by him subscribed, without any seal or witness thereunto; and is made payable to such a Merchant or person, or to the Bearer of the Bill, at such time or times of payment as is agreed and concluded between the parties, either for money or commodities lent or bought, and so declared in the said Bill, according to the form hereafter expressed. This Custom is much practised by the Merchant's Adventurers beyond the Seas at Middleborough, Amsterdam, Antuerp, Hamborough, and other places where they do trade, in manner following, as we have noted. A Merchant, having many of these Bills, which he hath received for his Clothes sold unto Drapers (or other Merchants dwelling in several towns and places) will resort unto a Shopkeeper, or another Merchant, commonly accompanied with a Mediator or Broker, to buy a good round quantity of Silk wares, The setting over of Bills of Debt. or any other commodity (which is ordinarily sold payable at some days of payment either 4, 6, or more months) and having agreed upon the price of the said commodity, or before; he maketh the seller acquainted what payment or satisfaction he will give him, in Bills of such and such persons, amounting to such a sum, either little more or less than the commodity doth amount unto; or to take in commodity so much as the said Bills do contain, or do amount unto; and if there be any remainder due for the commodity, more than the Bills do amount, the same to be paid in ready money, or upon his own Bill, payable at such a time as they agree between them, which often cometh to be a great sum. Hereupon all such Bills as are of known persons are soon accepted of, and of the unknown persons, either himself that is the Seller, or the Broker, will inquire of their sufficiency, and then likewise accept of their Bills in payment; and having taken their Bills, (which are made payable to the Bearer, as we have said) the receiver of these Bills goeth unto the parties, and demandeth of them, whether they are contented to pay him those Bills at the time specified therein, according to the manner of merchants for commodities (which if it be within one month after, it is accounted to be very good payment:) The Debtor maketh answer, that he will pay his Bill to the bearer thereof accordingly; for if this man will not ride out (as they say) the time of the payment of the Bills, he may go to another man, and buy other commodities therewith, as if it were with ready money, the time only considered: nay more, if he will have ready money for these Bills, Selling of Bill, obligatory. he may sell them to other merchants that are moneyed men, and abating for the interest for the time, and (commonly one month over) according to the rate, as they can agree, and as money is plentiful, they shall have money at all times to employ in commodities, or to deliver by exchange, or to pay debts withal, or to carry home in specie, or for any other purpose at their pleasure; which is commodious for young merchants having small stocks, as also for all men upon all occasions: for it is properly as money paid by assignation, whereby very great matters are compassed in the trade of merchandise, the commodities are sooner vented in all places, General benefits by setting over of Bills of Debt. the Custom and Impositions of Princes do increase, the poor and mechanical people are set on work, men are better assured in their payments, the counterfeiting of Bills, and differences are prevented; the more commodities there are sold the less ready money is transported, and life is infused into traffic and trade for the general good. And herein we see and may observe, That things which be indeed, and things which are not indeed, but taken to be indeed, may produce all one effect; and every man is enabled with his own means and credit, to augment commerce. This laudable custom (as I said) is not practised in England; yet sometimes a Merchant Stranger will accept of Bills of Debt in payment for commodities sold with advantage: But then the Bill is made new again, and in the Merchant Strangers name; and this is not without some danger to him that buyeth the commodity or merchandise for another man's Bill, as Factors may do for their Masters: for I have observed by good experience, A Law Case about the setting over of Bills. that a Factor in London, having sold for his Master (a Merchant of Antuerpe) some commodities to an English Merchant to the value of seven hundred pounds, and taken the Merchant's Bills payable at six months and six months for it: his Master of Antuerpe did appoint him to buy Bays ●or these Bills of another Merchant, which he did perform, and had the value of 700 ll delivered unto him in Bays accordingly, and the Bills were to be altered in the other Merchant's name for his Bays. Shortly after it fell out that the English Merchant became insoluent: But before it was publicly known, the Factor brought the Bills altered (according to the agreement) in the Bay Merchant's name, who did refuse to accept of them, and said the Factor should pay him. The Bills were tendered with a Scrivener according to their agreement, but still were refused. The time of payment being expired, the Bay Merchant did arrest the said Factor: the matter was tried before the Lord chief justice of the King's Bench by a Nisi prius in London, by a party jury of English men and Strangers: The verdict was found for the Bay Merchant, and the Factor did pay the money, and had no remedy against his Master. The reason was delivered by the judge, That the Common Law in this case requireth a Release or Acquittance for the payment of the Bays to be made to the Factor, otherwise he was still bound by the Law to answer for the said Bays. To establish this Custom in England. This custom might (with great facility) nevertheless be established in England, and would be very beneficial to the King and the Commonwealth in general: for albeit that the strict Rules of the Law demandeth a sealing and delivery of Deeds, and that the Bill cannon conveniently be made payable to the bearer of it, or be altered in another man's name as abovesaid, neither can it be recovered by a Letter of Attorney, which in England is always revocable before the fact: Nevertheless, if there were a Register kept of the passing and transferring of these Bills from man to man, and by an endorsement thereof also upon the Bill, it might be done with ease, and the bearer of it should be acknowledged thereby to be the lawful Attorney in Law; and by these means the undecent Plea of Non est factum would be cut off. And, to prevent fraudulent dealing, if any Bills should be lost, notice might be given instantly to the Register (which at Lixborne and Rouen is called a Prothonotary) by means whereof many questionable parcels or payments are made apparent, Office of Prothonotary at Lixborne and Rouen. and the Bills for the most part do remain in the office at the disposition of the last Assign or Assigns; which is the cause also, that most usually Bills are made for all things bought and sold between parties and parties, whereby many payments are made by Rescounter, Rescounter by Bills for payment. as if it were in bank, hereafter to be declared; for Merchants do meet, and in a manner jump together in their said payments. And hereby also may the difficulty (for the taking of an Acquittance as aforesaid) be removed, by entering an acknowledgement of satisfaction before the said Register, at the time of the transferring or registering thereof. I have taken pains to have this to be established here: but hitherto things are not rightly understood, as is to be wished it were, whereby other nations have still an advantage. CHAP. XIII. Of the nature of Bills obligatory beyond the Seas, and in England. Such is the sincerity and Candour Animi amongst Merchants of all nations beyond the seas, in the observation of plain dealing concerning the said Bill● obligatory between man and man, that no man dare presume to question his own hand; for if he be stained therewith, he is not only utterly discredited, but also detested of all Merchants: The form of the Bills being as followeth, only Mutatis mutandis. Form of Bills obligatory. I A. B. Merchant of Amsterdam do acknowledge by these presents to be truly indebted to the honest C. D. English Merchant dwelling at Middleborough, in the sum of five hundreth pounds currant money for merchandise, which is for commodities received of him to my contentment, which sum of five hundreth pound as aforesaid, I do promise to pay unto the said C.D. (or the bringer hereof) within six months' next after the date of these presents: In witness whereof I have subscribed the same at Amsterdam the 10 of julie 1622, Stilo novo. A.B. In the East Countries, and sometimes in the Low-countries they will put a seal to it, and then the word subscribed and sealed goeth together: but there is no mention made of any delivery or deed, for that is understood of course, in so much, that if for want of payment the Bill be put in suit, and the party adjourned or cited to make his appearance: The judge (making no doubt of any such matter) will instantly say to him, My friend, what is the reason that you have not paid this your Bill to C. D? for to deliver a Writing, or a Bill as an * Called Apocha or Apodissa by the Civilians. Escroll (as we say at the Common Law) is unknown unto all Merchants there, and the bringer of the Bill (called with us the bearer of it) shall be admitted to recover the same without any Letter of Attorney, or other Warrant. Especial notes concerning Bills Obligato●ie. The Ciuil● Law, and the Law Merchant do, require that the Bill shall declare for what the debt groweth, either for Merchandise, or for Money, or any other lawful consideration. The words Currant Money for merchandise, is, because that Merchants for diverse respects tolerate commonly the moneys to go currant at a higher rate in the course of traffic, than they are valued by public authority of Kings and Commonweals: And when the Bill mentioneth Money, it is taken to be Money at deposito or interest; wherein is to be observed, That the interest must be joined with the principal sum, without any specification, whereby it may be separated or distinguished, because the debtor shall not pretend to pay the same at his best opportunity and pleasure; as may (thereupon) be done for money let for loan, retaining still the principal in his hands, and paying the interest from time to time, quarterly, or half yearly: for it is lawful and accustomed, that although one hundreth pounds were taken up for one whole year, after the rate of ten upon the hundreth; the Debtor or Taker up of it, may discharge the same at three months, if he will, paying one hundreth and two pounds ten shillings, unless the Bill made for the same be made paiable at a time limited, with a penalty of a sum of money, called by the Civilians Poena Canonica, which with us in England is done upon a Bond, with a forfeiture of half or double the sum of the principal, wherewith the interest is also joined without distinction, which may not exceed the rate of ten upon the hundreth for the year, in the computation whereof, diverse things are to observed, as we shall declare hereafter. Now if a Bill made beyond the seas be done by two, three, or more persons, as having bought a commodity as partners together, or taken up moneys together at interest, wherein they bind themselves all as principal Parties or Debtors; yet every man is but bound to pay his part. Subscription of Bills obligatory. The like is, if one be bound, and two, or more do put their hand and seal, and underwrite, and seal the said Bill as Principals, yet paying their proportionable parts, they shall be cleared by the Civil Law, and the custom of Merchants: but if they do simply subscribe, and say we are Sureties, than they are all bound for the whole, as if the words we or either of us in solidum were expressed: which is the cause that in all notarial writings (only used upon questionable matters decided, or to be decided) they do not only bind the parties with these words, but they do also make a declaration of all renuntiations of privileges, Renunciation of Privileges, and what they be. and especially of exceptio divisionis, and then it is one for all. Exceptio ordinis & excus sionis, is to meddle with the Sureties before the Principal: Renouncing the Letters of Adrian the Emperor, for the cessions of goods, Prolongations of payments, Vintages, or free Martes, all Constitutions, Canons, Privileges, or Statutes and Acts of Parliament made or to be made, published or enacted; and in these cases the debtor is always to be bound with the Sureties in all Acts or Instruments made before Notaries. Renouncing also the benefit of Senatus-consultus, or Arrest Velle joan, for the prerogative of women, which upon the decease of their husbands do claim their portion brought in by them in marriage, or their dower, or any thing else that may be alleged or imagined. In England, Bills obligatory being made payable to the party, his Heirs, Executors, Administrators, or Assigns, may conveniently be set over, as aforesaid; because the lawful assignee shall be of Record, and registered also upon the Bill, and if there be two or more bound in a Bill, fraudulent dealing will be also better prevented; for by the Common Law, Acquittance to one dischargeth the rest. if one do release one of his Debtors (by way of acquittance) that is bound with others unto him, they are all released and acquitted thereby, although there were never so little paid of the debt; insomuch that a receipt for parcel of the money received of one of the debtors, being made in full payment of his part only, doth nevertheless discharge them all, as for example by woeful experience may be demonstrated. Three Linen Drapers of London, bought of a Merchant stranger 40 pieces of fine Holland's cloth, amounting to 160 ll, and gave their joint Bill for the payment of it at six months: one of them became insoluent, and being imprisoned, made a composition with the Merchant for eight pounds, and thereupon had a general acquittance made to him only. Shortly after, the other two Linen Drapers, being somewhat pressed for the payment, and engaged for the other, they did plead the other man's general acquittance, which was but a receipt made of the said eight pound, expressing that is was in full of his part; and nevertheless upon trial in Law, it was adjudged to be a sufficient discharge for them all, in nature of a general acquittance. These observations at the Common Law, and such like Book cases as I have put down, I hold to be necessary for Merchants to know, albeit we handle the Law-merchant in this Treatise, and not matters of the Common Law. If you take beyond the Seas any Bill obligatory for money delivered upon two or three lives, or for wagers or lays, which are conditional, Bills Obligatory upon two or three lives. let the party be put to prove: if upon proof of lives, make the Bill payable at a day certain, unless one of the parties were dead: whereby the party is bound to pay, or else to prove the decease of the one: on the contrary, if you make the Bill to be paid, if they be all alive or living, then must you prove they be living. To conclude, Abundans Cautela non nocet. Finally, if a Bill be thirty years old, and never demanded or questioned, it is void by the Civil Law, and the Law or Custom of Merchants doth not take any knowledge thereof. CAHP. XIIII. Of Letters of Credit and Blanks signed. THE Credit of Merchants is so delicate and tender, that it must be cared for as the apple of a man's eye: Hence it doth proceed that Letters of Credit are had in such reputation, that the giver of them will be well advised before he do make them; and the party to whom they are directed, will be careful to accomplish them, for it doth concern both their Credits: The giver's Credit of the Letters, will be had in question of insufficiency, known to the other that he doth not accomplish them, or he that doth not perform them may be thought to be weak and to want means to do the same. Definition of Letters of Credit. To make Letters of Credit, is properly a Participation of Credit to another, which is performed as followeth. A Merchant doth send his friend or his servant (either within the Land or beyond the Seas) to buy some commodities, or to take up money for some purpose, and doth deliver unto him an open Letter, directed to another Merchant, requiring him that if his friend such a one, the Bearer of that Letter (being either his friend or servant) have occasion to buy commodities, or to take up monies to the value of so many hundreths, or so many thousand pounds in that place or thereabouts; that he will either procure him the same, or pass his promise, Bill, or Bond for it, and he will provide him the money, or pay him by exchange, or give him such satisfaction as he shall require: the party to whom this Letter is directed will accordingly do his endeavour and perform the request of the other, and keep the Letter for his assurance or security, and what he doth thereupon undertake, is made apparent by such Writings or Evidences as he taketh of the said Bearer of the Letter, that thereupon he may be well dealt withal accordingly. But if it should fall out, that for some known cause to this party, he doth not accomplish his request contained in the said Letters of Credit: Then the Bearer of the same keepeth the said Letters, and returneth them unto the giver, without any other proceeding; Protests for the non-performance of Letters of Credit. unless it be in case where this party is a debtor to him that gave the Letters of Credit, and then he must take witnesses of it, and with a Scrivener or Notary make a Protest against him, protesting to recover of him (by all lawful and convenient means) all the damages, charges, and interest, which he or any other shall sustain thereby, by reason of the nonperformance of the said Letters of Credit, and that in time and place as occasion shall serve; which Protest is a sufficient means amongst Merchants, and before any judges of the Civil Law, to recover the same, upon proof at all times accordingly. But if the party to whom these Letters of Credit were directed do make a reasonable answer for his excuse, and requireth the Scrivener to put down the same in the Act or Instrument of the said Protest; then is the cause considered withal, and the losses and damages may fall upon another: for if the giver of the said Letters of Credit, were a debtor to the other that did receive them, to be paid by them, either by commodities to be bought, or monies to be taken up, as aforesaid; then the said Protest may serve the receiver of the said Letters of Credit to recover his damages of him that gave him the same: wherein the Magistrates will have a great consideration, as a matter whereby the Commerce is interrupted, which is the cause also that men must be advised on the other side, not to be too rash to affirm the goodness or sufficiency of another man's Estate, Credit, or Reputation, whereby a third man becometh a loser, loss being the greatest hinderer of Traffic and Trade. The Civilians therefore have a Title in their Laws, which is strictly observed, as you shall understand hereafter. The Signing of Blanks, is also a Custom amongst Merchants, whereby they strengthen the credit of their Factors or Servants in the like occasions, which is a matter of great confidence, Great confidence among Merchants. considering the easy transferring of B●lles already spoken of. For a Merchant setting his name to a Blank paper, his Factor or Servant hath an ability to wrong his Master many ways. Therefore such as are provident, do restrain that power by certain Covenants or Declarations, and yet the same (being known unto the parties that do make use of the said Blanks) might become scrupelous thereupon to be well dealt withal, howsoever, we see what honest and plain dealing is used amongst Merchants, and what adventures they bear to compass their businesses. A Merchant of Antuerp will send his Servant at Amsterdam to buy him 500 Last of Corn, upon advice he hath that Corn is spoiled, or the Harvest faileth in Spain, Portugal, and other places: and because he is uncertain what his Servant can effect, doubting that other men might have the like advice, and prevent him; he delivereth Blank paper by him subscribed, with order to his said Servant, that he shall upon such an occasion, writ his Letter upon the said paper to such a man, his Factor at Dansicke in the East Countries, to buy for him the quantity of Corn which he cannot buy at Amsterdam, and shall date the Letter, as if himself had written the same. The Factor of Dansicke doth presently perform the Commission given him, and so the business is accomplished. . But in this the confidence may be as great, as in the making of Bills Obligatory, and yet the adventure fare inferior thereunto; for upon these Blanks, there is an Addition to the name, or a Precedence in words, namely, Your loving friend, A. B. etc. which is impertinent, and not to be used in Bills of Debt. Herein we may consider a necessity to give Blanks, not only because of the Masters Credit requisite; but also because of the uncertainty in the finding of the quantity of Corn which was to be bought. CHAP. XV. Of Letters of Attorney, or Procurations and Transports, or Conveyances. A definition of a Letter of Attorney, etc. A Letter of Attorney, is an Act publicly done before a Notary or Scrivener, whereby one man giveth power and authority of himself unto another man, by way of Deputation to do, execute, and perform for him any lawful thing, which he himself (being the Constituant) might or may (aswell present, as absent) do, conclude, and determine in all causes Civil and Politic; with power also to Substitute one or more persons to do the same under him, in the said first Constituants name; and to swear in the soul of him, if cause so require: albeit the said Letters of Attorney do differ in the manner and form, as well as in the Substance, which must be observed. They are called beyond the Seas Procurations, to procure or effect that which a man would have commonly in an other place, and in matter of Authority for Law Causes, they go one degree further than Letters of Credit, because the Law doth require the same, to the end that the Authority or Power of the party Constituted, may publicly appear: wherein a Letter Missive is not sufficient, as the same is in things concerning the ordinary course of Negotiations and dealings between Merchants, which by the Law-merchant are of great validity. Procurations generally, or for the most part, contain the word Irrevocable; P●ocurations irrevocable. implying that Power given should endure for ever, and so it is taken beyond the Seas. But by the Common Law the words are used, Pro forma, and a Procuration or Letter of Attorney, is revocable at all times, unless it be that the said Letter of Attorney do contain a Transport of some thing which is conveyed thereby: As if a man do constitute another for the recouvering of certain monies for the parties own proper use, without account to be rendered for the same, and the said party hath recovered the said moneys by virtue of it. This Letter of Attorney cannot be revoked to any purpose, the effect being fully performed which was the cause thereof. So beyond the seas, if you make a Letter of Attorney to a Procurator in Law, to follow a cause for you in Law, although the same be made irrevocable, yet upon good cause you may revoke the same, and appoint another to follow the cause: but it is commonly done with leave of the Court where the cause is consisting or depending, and because the intimations and citations are to be done at such times as the cause may require, the nomination of some place, as it were to choose a Domicilium must be done, Procurations with a limited power. but the power may be limited. An Attorney may have authority to convict a man by law for the recovery of money or goods, and to proceed to execution by imprisoning of the Debtor; yet he shall have no power to release him out of prison, without further authority; so in the receiving of goods or money, wherein every man is to use his discretion, as the cause may require. A Merchant may also make a Letter of Attorney to a Notary beyond the seas, and thereby to give him power to make any insinuation, or intimation, or protest, against any other Merchant there, to serve him in all occasions or occurrences concerning the matter in question. For a Procuration is beyond the seas of that validity, that the party who hath the same, and is the Procurator, is taken in law as absolute as the Constituant, and many sundry proceed may be used against him accordingly, by Citations, Intimations, Protests, Recoveries of goods delivered formerly, and recalled back again, or the value thereof upon any Attachments or Sequestrations, which cannot be done against a man's Factor or Servant: A caveat for Procurators. therefore they that have Procurations are to be careful of the dispossessing of themselves of any goods, or moneys received, to be cleared by the Law, which happeneth commonly of goods taken upon the seas, or sequestered in any Harbour, by virtue of a Letter of Attorney or Procuration. The Civilians entreating of Procurations or Constitutions under Titulas Mandati, have well observed, The original of Mandata. that commandments have their original from friendship, or out of authority of office and place, and that the same are diligently to be executed and kept: and hereupon they have also noted diverse questions and propositions, Nos igitur pauca tractabimus adrem, de qua agitur, pertinentia. A.B. willed C.D. his debtor to pay unto E. ●. one hundred pounds which he did owe him, C.D. did not pay the said money, but promised to pay the same. Queritur whether C.D. hath performed the commission or commandment given him, and whether he be discharged of the debt; as also whether this order or commission can be revoked. A.B. owing the like sum to E.F. Herein C.D. hath not performed his commission, which was to pay, and not to promise the payment of the hundreth pounds, and therefore the said Commission might be revoked, and C.D. was not discharged of the debt, for the matter was entire, and all entire Commissions are revocable. Mandatum enim re integra, revocari potest, & res est integra, & si stipulatio promissioue interuenerit cum id non mandaverim. For if C.D. should break or become insoluent, E.F. would come to A.B. his debtor, to have satisfaction for the said money, and C.D. was not discharged of the debt owing unto A.B. But if E.F. had taken his promise for payment, then upon proof made of it, the case is clear. It is a question also, whether a Procurator having commission to receive moneys which were owing or lent, and to give an Acquittance for the same; and receiving the money without making an Acquittance, have performed his commission: And the answer is, That he hath not performed the same, because he made no Acquittance, as he was willed to do, Aliud est enim confessio, aliud numeratio. Albeit the Acquittance did not concern the Procurator, but the party who repaied the money. Another case they handle at large, Bartholomew did make and constitute Nicholas to be his Procurator or Agent, in the buying of commodities, to the value of five thousand crowns; and he the Constituant to be answerable for the price and total sum of five thousand crowns: and withal giving full power and authority unto the said Nicholas, that his procuration shall be good and available, during the lives of the honest persons Gerome, john, and Angel, of whom the said Constituant had his Commission, and that they also together and apart insolidum should be bound for the performance, and himself also. Nicholas the Procurator by the commission of Jerome, john, and Angel, as also of Bartholomew, caused by an Instrument (or Act passed before a Notary) the said parties to be named in the contract, and thereby bindeth them unto Titus and Mevius, for the commodities bought of them to the value or sum of five thousand crowns. But Bartholomew is not named in the article whereby the other parties are bound in the covenant; whereupon some would conclude, that for want of form Bartholomew was not bound to the payment, although by commission of the other three he had constituted and made Nicholas to be the Procurator. In Procurations the will of the Constituant is to be regarded. The rule in Law being, Quod una determinatio respiciens plura determinabilia, aqualiter terminare debet. And herein is the intention and will of all the contractors more to be regarded than the conceit of words, which causeth Merchants to be accounted cavillors, and to lose much of their credit and reputation. It is also a custom amongst Merchants, that if the Master (knowing that his Procurator hath exceeded his Commission) be silent, the same is taken for a consent; the rather because Procurations (commonly running in general words, whereby Factors are directed) do comprehend all things which (of course) are to be done touching moneys or payment of exchanges for moneys. The question therefore to know whether a Procurator (having commission to sell commodities, or to let them to hire at a price) hath authority to receive the money or hire, may be thought frivolus: for the buyer in matter of sale of commodities in market overt, hath no regard to the Procurations or Commissions given to the seller of the said commodities. The like may be understood in this question following, Whether a Merchant (selling Cloth unto an Abbot to clothe his Friars or Monks) shall not be satisfied and paid for his cloth, although the Abbot did divert and employ the same afterwards to another use? For the use is no matter to be regarded by the Merchant, but the payment of his Cloth. If a man buying Paper for the printing of a book, doth not print the book, and selleth the Paper unto another Merchant that is no cause but he must pay for the Paper, whereof no man ought to make doubt. If a Merchant maketh a Procurator, Doubts in procurations by whom to be proved etc. or by letters giveth credit to negotiate some business with another Merchant; if this Merchant do take exception to the procuration and letters, and maketh doubt whether the party that brought the same be the right man: the Procurator is not bound to make any further proof; but the party excepting against him is to make good his assertion, and to prove the same by the Law and Custom of Merchants. Another question is moved, whether a Merchant that hath commission to receive a sum of money, and to pay the same unto another, and beside to pay the interest due unto the party to whom he paid that money, is bound to prove what interest he paid, and to whom he paid that interest or use money: it seemeth Prima front, that the Merchant is bound to name the party to whom he paid the said use money; and yet there is doubt made whether he should pay it without he were compelled thereunto as a thing unlawful; and therefore the Commission or Order the Merchant had, is not to be contradicted, but must be allowed without any other proof, for this question is so resolved by the Civilians, and where the proof is not needful, there the nomination of the persons to whom it was paid is to no purpose, according to the rule Qui non tenetur probare, non tenetur nominare. It is also worthy the observation, Commissions subject to Arbitrators. that generally all Civilians do concur in opinion, That when Merchants by their Letters or Commissions use these or the like words, Let all things be done as shall be thought most expedient or convenient, that the said Commissions or Directions are to be left to the interpretation of Arbitrators when any question ariseth; which is also in many more questions concerning Merchants noted in most of their Law books: hereof we intent (God willing) to entreat more amply in the next chapter concerning Factors and Servants, and the Commissions given them, etc. The ordinary rule of Procurations in things complete and not effected, is understood to end with the death of the Master or Merchant that giveth such procurations, albeit there are many exceptions: for a Procuration may be made to endure after his death, Procurations to continue after death etc. which kind of Procurations the Florentines and other nations confirm by their last wills & testaments, which nevertheless are to be understood that the state of an heir be not impaired thereby, wherein the Law interposeth her authority. And for a general rule in all peremptory and absolute Procurations or Commissions, it must be known that the like authority is used to prevent many inconueniencies, having a vigilant care that equity be maintained. And that all Merchants or Procurators for Merchants, are to accomplish the lawful Commissions given them, and means thereunto being provided, or else to answer the damages which the parties shall receive by the default thereof. Those therefore that without any Commission do undertake things which bring losses unto the parties are much to be blamed, and by a fuller measure to answer fo● the same, or to make by gain a recompense for the losses, as occasion serveth. De Constituto. Some that have written de Constituto have moved questions, Whether it be lawful to take penalties or forfeitures, if the Constituant do bind himself to perform or else to lose a certain sum of money? Others, whether a Commission shall be executed by an ordinary messenger? Others, whether it be convenient to use the words, You shall give him full credit and trust in what he hath undertaken to do? How long the Commissions shall endure, if there be no time limited? and the like questions: which upon due consideration are easily resolved, and (in my opinion) impertinent to trouble Merchants with them. Such only as are material shall be handled in the following Chapter. (* ⁎ *) CHAP. XVI. Of Factors and Servants, and Commissions given unto them. THE difference between a Factor and a Servant consisteth chief in this, That a Factor is created by Merchant's Letters, and taketh Salary or provision of Factoridge: But a Servant or an Apprentice, is by his Master entertained, some receiving wages yearly, and some others without wages. a Factor is bound to answer the loss which happeneth by overpassing or exceeding his Commission; whereas a Servant is not, but may incur his Master's displeasure. For albeit that the Spanish Proverb is Quien Passa commission, pierde Provision, that he that exceedeth his Commission shall lose his Factoridge. Alteration of the case with Factors. The case is altered long since by the Custom of Merchants, and now it is Sub●lca lo paga, his purse doth pay for it. Factor's therefore must be very careful, to follow the Commissions given them very orderly and punctually; and because Merchants are not able to prescribe every thing, so exactly unto their Factors as is convenient, it behooveth them to make good choice of the persons which they do employ, for their welfare dependeth upon Traffic; otherwise, the Factor groweth rich and the Merchant poor, because his gain of Factoridge is certain, howsoever the success of Merchant's employment doth prove. But having a good Factor, which word (Good) implieth all and more than an honest Factor, who may be honest and nevertheless simple in his proceed, and others also may be wise and not honest. This Good Factor therefore may be trusted, Ample Commissions with an addition. and all Commissions given unto him may be ample, with addition of these words, Dispose, do, & deal therein as if it were your own; & this being so found; the Factor is to be excused, although it should turn to loss, because it is intended he did it for the best according to his discretion, which is and aught to be the truest director, making a conscience to see their Master's loss, if they can prevent it: but being limited to the contrary, they can but grieve, when their counsel and advice doth not take place, either in the selling of commodities in time, foreseeing a greater loss, or buying some commodities dear over hastily, as also in keeping a commodity without purloining the same; A Passionate Commission. sometimes upon a passionate humour, as a Merchant of Amsterdam did of late years to his Factor in London, for being a loser by some Spanish Wines, by writing in these words, My will is that upon the receipt of this my Letter, you go to the next Ironmonger and buy a Hammer, and run into the Cellar, and strike out the heads of all the Butts of Wine, and let it run into the Sellors: For seeing the devil hath eaten the horse, let him have the bridle too. The Factor did herein use his discretion and kept the Wines, which he afterwards sold to benefit; for he remembered that losers have leave to speak. Difference by Law between a Factor and a Servant. Factors do deal most commonly for diverse men, and every man beareth the hazard of their actions; but if a Servant do deal for others by his Master's direction, and they break, the Servant can be no loser, for he is taken to have no other credit but his Masters, which is the cause that Intimations, Citations, Attachments, and other lawful courses are executed against Servants, and take no place against Factors unless they have Procurations. Now let us set down such observations as Factors ought to know. Observations concerning Factors. IF a Factor do sell at one time unto one man several parcels of commodities or goods belonging to diverse men's accounts, to be paid jointly in one or more payments, without any distinction made by the buyer for what parcels he payeth any sum in part of payment of the said debt, weekly or monthly, as shopkeepers do▪ then is the said Factor to make a proportionable distribution of the moneys so received upon every man's account, Commodities bought and sold. according to the sum that every man's parcel did amount unto, until all be paid: and if any loss doth happen, or that all be not paid, the said loss is to be distributed upon every man's account accordingly. If a Factor do sell afterwards more goods to the said man, or any other who is already indebted for other commodities formerly bought, as aforesaid, be it for his own account, or other men's accounts, and in the Interim receive some more monies in part of payment and account between them; then is the said Factor to distribute the said monies as before, until the said old and precedent debt be first paid, unless there were cause of controversy for them, or that the payment were endorsed upon the Bill made for the later goods sold unto that man: for that Bill may be transferred or set over unto another man, and so is not he the receiver of that money, but the other man. If a Factor do sell goods to another man payable at time for his own account, and rcieveth the money for the same at the time of payment, and in the mean time letteth other men's monies remain in that man's hands unpayed, for goods by him formerly sold; this Factor is to be answerable for that money unto those other men, although he should never recover one penny of it. For he cannot (without fraud) bear with the nonpayment of other men's moneys after they be due, and procure the payment of his own money, to another man's loss and prejudice. In like case, if a Factor do sell unto a man certain goods of another man's account, either by itself or amongst other parcels, and this Factor giveth not advice to the owner or proprietary of the sale of the said goods, but afterwards (having had more dealings with that man in selling of goods and receiving of monies) this man becometh insoluent; The Factor is to make good that debt for the said goods so sold, because he gave no advice to the owner of the sale of the said goods at convenient time, even as if he had sold those goods unto a man contrary to the Commission given unto him; for the Salary of Factoridge bindeth him thereunto. If a Factor by order or Commission of a Merchant, do buy any Commodities above the price limited unto him by the said Merchant, or that they be not of that sort, goodness, or kind, as he is willed to do: This Factor is to keep the same for his own account, and the Merchant may disclaim the buying of them. The like he may do, if the Factor (having bought a commodity according to his Commission) do ship the same for another place than he hath Commission to do. If a Factor do sell a commodity under the price limited unto him; he is to make good the loss or difference of the price, unless he can give a sufficient reason of his doing so: wherein he is to consider the disposition of the Merchant for whom he dealeth, as is before noted. If a Factor buy commodities according to his Commission, and afterwards the price of them riseth, and thereupon (fraudulently) he ladeth them for another place, contrary to his Commission, to take the benefit thereof: in this case the Merchant shall recover damages against the Factor by the Custom of Merchants, upon proof made thereof. If a Factor, by the advice of a Merchant, do buy a commodity for that Merchant's account, with the said Merchant's money, or by his credit; and the Factor giveth no advice of the buying of it to the said Merchant, but doth sell the same again for his own benefit and gain: the Merchant shall recover this benefit of the said Factor, by the Office of Prior and Consuls, according to the Custom of Merchants, and shall be moreover amerced for his fraud. If the Factor do sell another man's commodity to a man discredited, who cannot usually (as before) buy commodities at the ordinary price as other men, and it falleth out that this man breaketh; the Factor shall pay for the said goods, as shall be thought they were worth, unless he can prove that he was ignorant of the parties weak estate and credit, or that he sold him goods of his own account also, which argueth plain dealing, or that he had Commission of the other man to deal for him, as if it were for his own proper goods, as hath been declared. And yet in this case he cannot barter any of the said commodities for other commodities, Batter. but he must have express commission and order for it from the Merchant; neither can he transfer or set over any Bills obligatory in nature before declared: Bills of Debt. For albeit this manner of Commissions given to Factor is very large, yet it containeth certain restrictions and limitations, in every Merchant's understanding. If a Factor shall by a false Entry in the Custom house, either unawares or of purpose, Customs. conceal part of the Custom without consent or privity of the Merchant, whereby the goods become forfeited to the Prince; the said Factor shall bear the loss of them, and answer the value thereof unto the Merchant, as they did cost, if it be for goods to be transported; or as they might have been sold, if it be for goods to be imported. If a Factor or Merchant, do colour the goods of Merchant Strangers in paying but English Customs, (although he did bear the adventure of the Seas for the said goods) he runneth into a Praemunire, and forfeiteth all his goods unto the King, and his body to perpetual imprisonment. If a Factor, by a Letter of advice, or by an Inuoyce of commodities which the Merchant sendeth, do make a short entry into the Custom house, the goods not entered shall be lost, but the Factor cannot be charged with the same. If a Factor make return unto a Merchant for the provenue of his commodities sold, Prohibited commodities. in prohibited goods which may not be exported, and have no Commission from the Merchant to do the same; he shall bear the loss of those goods, if they be seized upon for the King, or taken as forfeited: But if it be upon commodities to be imported, the Factor is in no fault; howbeit he ought to give advice unto the Merchant, what commodities are forbidden to be imported, or exported, according to the pleasure of Princes, which are absolute governors in their Havens, Harbours, Ports, or Creeks. Monies. If a Factor commit any unlawful Act, by the direction of the Merchant, be it for the transportation of Gold or Silver into the parts beyond the Seas, or otherwise▪ and if it happen thereupon that the same be taken, the Merchant beareth the loss: and yet the Factor is subject to pay triple damages by the Law, if it be followed within the year; or may be fined for the same in the Starchamber, although it be many years after. If a Factor do pay money for a Merchant (without Commission) to another man, it is at his peril to answer for it. And if he deliver other men's money at interest, and take more than the toleration of the Statute (which is ten in the hundreth by the year) whereby the said Statute against Usury taketh hold of him, and the money is lost; the said Factor is to be charged therewith, and to make good the money unto the Merchant. If a Factor (having received other men's goods or monies into his custody) be rob of the said goods and moneys, he is to bear the loss, Lost goods. and to make good the same to the Merchant: But not in case where the unmerciful Elements of Fire and Water shall destroy the said goods or moneys, or where a Town is sacked or peeled; which is always to be borne by the owner or proprietary of the same. If a Factor buy a commodity, Damnified Commodities. which afterwards becometh damnified by some accident or casualty, whereby the Merchant (for whose account he bought the same) becometh a loser; that Factor is not to be charged with any part of the loss: But if the commodities were damnified before, than he is to bear some part of the loss, although it happened to be known afterwards. A Factor bought for a Merchant of Amsterdam one hundreth tons of Allomes, which came from Civita Vecchia, laden with some Candia Oil, whereof some part was spilt upon the said Allome▪ afterwards the same being mingled together, was sold and transported to Amsterdam, and there sold to the dyers of Harlem, Amsterdam, and Rotterdam; who using the same, found their cloth stained in diverse places; (for where the oil touched, there the colour could not take) so that they became great loser's, as appeared by diverse testimonials. The Factor did thereupon demand reparation of damages of him who sold him the allome; and the Merchant did the like of the Factor, for there was above 300 ll lost: whereupon the matter was much debated amongst Merchants both here and beyond the seas, and they did deliver their Parecer or opinions in writing, The Parecer of Merchants. and being found that the Factor had knowledge that some oil had been spilt upon the allome, and nevertheless bought the same, he was adjudged by the sentence of Merchants, to pay the one half of the said loss, and the other half was borne between the dyers and the Merchant of Amsterdam: and he that sold the allomes, was cleared and fully paid; so that in these cases the circumstances and accidents are to be considered. If a Factor do receive money for other men's accounts, Loss by money. which afterwards are decried, or some loss doth happen by exchanging the same, be it upon Copper moneys, or light Gold taken for merchandises sold; every man is to bear that loss proportionably according to his sum, and the Factor is to sustain no damage thereby, unless it were for false coin by him received, which he is bound to know. Letters of Credit. If a Factor be required by a Merchant's Letter of Credit, to give credit unto others, he must look very precisely to observe the same accordingly; which Letters of Credit are either ample, or restrained to certain conditions and limitation of time, place, persons, sums, and many other circumstances: if they be ample, then is it dangerous for the giver of the said Letters of Credit, and may also procure a loss to fall upon the Factor; wherein consideration must be had both ways. Suppose A. B. of London, writeth his Letter unto C. D. of Antuerp in these words; If E. F. of Amsterdam, or any other of my friends there, draw by exchange upon you any Sums of money; it may please you to follow his and my friend's order: I will be your warrant for all, and have a care that all shall be accomplished orderly. C.D. of Antuerp the Factor in this case, Exchange and Rechange. doth accept from time to time many Bills of Exchanges, and paid them accordingly, and taketh up the money (by the direction of E.F. of Amsterdam) for Spain and other places; and so continueth the same for a long time, by way of rechange from one place to another, upon the said credit of A.B. of London. At last this Factor. C.D. becometh suspicious, because of this long continuance of money by exchange and rechange, and writeth unto the said A.B. of London, to know whether he is contented to continue his former credit by him given to E. F. of Amsterdam? A. B. continueth the same, but with a limitation to a certain sum, Limitation of Letters of Credit. not knowing what sum of money the said C.D. was engaged for the said E.F. of Amsterdam; for C.D. gave him no notice of it at that time: hereupon it falleth out, that E.F. of Amsterdam becometh insoluent, and being much indebted unto C.D. the Factor of Antuerpe; this Factor requireth his satisfaction at the hands of A.B. of London, according to the former Letter of Credit. A.B. doth answer, That he had restrained and limited the said Credit to a certain sum, which indeed did cut off all former matters, seeing C.D. gave him no notice of the moneys owing before, and A.B. was only to answer for the money which was taken up by the second Letter of Credit, according to the sum limited, otherwise A. B. had been cleared of all. But if C.D. did continue those monies by exchange and rechange, upon the credit of A. B, and the Factor (with whom he had correspondence) doth become insoluent, and thereby C.D. the Factor is damnified and payeth the money's running by exchange, or is bound to pay the same: This Factor is to be saved harmless by A. B. because he took up or caused to be taken up, The Efficient Cause always to be regarded the said monies originally: So that his Credit was the Efficient Cause of it, and the Factor is to be regarded herein, in all reason. If a Factor do accept Bills of Exchanges of a Merchant, with order to Rechange the same again upon him, or to take it up by exchange for another place or places, where he the said Factor shall find it to be for the most benefit of the Merchant: if this Factor take up the same according to his best skill and knowledge, although it be found contrary to the Merchant's intention, the Factor is not to be charged, and the Merchant is to save him harmless for the principal, with exchange, rechange, and all charges of factoridge. If a Factor do make over money for another man's account by exchange unto another man or Merchant, before he have notice that this Merchant is broken, and the Bills of Exchange are not due: this Factor hath authority to countermand the payment of this money, although the party (upon whom the Bill of Exchange is directed) had accepted the same. And if the said party should pay the same before it was due, he is to repay the same again to the said Factor, as having paid it in his own wrong, contrary to the custom of Merchants in exchanges. If a Factor do fraight a ship for some voyage to be made, Freighting of ships. going and coming, for a Merchant's account, and by his Commission or order, whereof a charter party of fraightment is made by Indenture between him and the Master of the ship; this Factor is liable for the performance thereof, and to pay the freight and all things accordingly. But if the ship be only freighted outwards, and the Factor ladeth the same with some goods, than these goods are liable for the freight, and the Master can demand nothing of the Factor by the charter-party, but must look to be paid by the party that receiveth the goods, according to the Bill of lading; whereby it is conditioned, Bills of lading. that the freight shall be paid upon the receipt of the said goods. And so is it also if a ship be freighted to go to diverse parts, as it were bound from one place to another, and to be free in the last place of his discharge: for the Master must still have an eye to be secured by goods, unless there were an express Condition made in the charter-party, to the contrary, or that the ship were freighted by the Great for a certain sum of money to be paid by an agreement. If a Factor do fraight a ship for another man, or for his own account, and when it cometh to the place appointed to unlade, there are no goods to relade the same, or there wanteth money for the lading thereof; if the Master do not stay out all his days of demourer agreed upon by the charter-party of fraightment, Protest for not lading. and make a protest against the party (that he was consigned unto) to give him his lading within that time, but cometh away before that time be expired, and although he maketh a protest, for that he is not laden: yet the Factor is to pay him no freight at all, unless (for the freight outwards) it were conditioned by the charter-party. But if the Master do stay out his time, than the Factor is to answer the freight, although the Master had laden his ship with Salt for his own account: for if the said ship had been laden only with Salt by the Merchant, which (it may be) would not pay half the freight, yet the Factor or Merchant may at their pleasure abandon the same to the Master for his freight, Goods to be abandoned for the freight. and the Master can demand no more of the Factor by the charter-party. But if the Master do take in Salt, and ladeth his ship by his own means, before the days of demourer are expired, and that by some condition made with the Factor, he may claim fraight; then the Factor is to have the benefit of the Salt in defalcation of the said freight. If a Factor do fraight a ship for a Merchant, and afterwards the said ship is taken to serve the king for some few days, within the time agreed upon for the lading; and hereupon the Merchant disclaimeth the freighting of the said ship, albeit the Factor did proceed to lad the same: In this case the Factor is not to bear any loss; but what damage shall be adjudged to the Master, the Merchant is to save the Factor harmless of it. If a Factor do hire a ship by the month for another Merchant, or for his own account, and ladeth the same being ready to departed, afterwards the king maketh a general Embargo or restraint upon all ships for a time; the Master cannot demand any freight of the Factor for and during the said time of arrest. And if the ship be unladen again, and employed in the king's service, the Factor is free of all agreements or covenants with the Master. Money given for freighting. If a Factor do receive a sum of money of the owners of a ship, in consideration that he fraighteth the said ship for a voyage, promising to repay the said money at the return of the said voyage: if the said Factor have freighted this ship for another man's account, this Merchant is to have the benefit of this money during the time; and if the Factor conceal the same, he is to repair the damage thereof, which is to be considered both for the interest, and adventure of the seas, for the said owners bear the same: and it is supposed that the Merchant would have assured so much the less, or (by employing that money towards the lading of the ship) he should disburse to much money less to make the said voyage, and it may be thought, that in regard of that money, the freight is made the greater, whereof the said owners of the ship have had a consideration by disbursing the same. Assurance. If a Factor be required to make assurance for a Merchant upon a ship or goods laden for a certain voyage, and have moneys in his hands to pay for the Premio or the price of assurance; and this Factor doth neglect the same, and giveth no notice of it to the Merchant, who might have made assurance in another place; and the said ship or goods do perish at the seas: this Factor is to answer the damage, unless he can give some sufficient reason for the non-performance of the said order or Commission. Composition made without order. If a Factor having made assurance upon goods laden, which afterwards are taken by the enemy, maketh any composition with the assurers for the same, without order or Commission for it; he is to answer the whole assurance to the Merchant. A Merchant caused a ship to be freighted and laden with commodities for Constantinople by a Factor of London, himself dwelling at Antuerpe, and being a subject to the king of Spain in the late wars, caused 2000 ll to be assured at London upon the said goods; the ship and goods was taken by the Galleys of Sicilia and brought to Palermo, where it was proved that the goods did appertain to the King of Spain his subjects; but that there was 2000 ll assured at London by English Merchants, (their enemies in those days) pretending thereupon to take the said goods for forfeited, or so much of them as should amount to the sum so assured. Hereupon the Assurers (having intimation from the Factor of it) desired to make some composition to avoid that danger, whereby the goods also might be sooner cleared, and the possession obtained for the owner and proprietary thereof, which was the Merchant of Antuerp, wherein expedition was required: The Factor (in regard of the said expedition) did not stay to receive an answer from the Merchant what he should do, but maketh a composition with the assurors, for 60 pound for the hundreth pound, to be paid instantly. The goods were afterwards all recovered, whereof so much as had been assured, was formerly relinquished to the assurors, for the Merchant would not condescend to make any composition with the assurors: So that the Factor did bear the adventure to lose 2000 ll, for some 1200 ll which he had received, if the goods had not been recovered; and therefore the said Factor took to himself the benefit of this composition, by the advice of the experienced Merchants. If a Factor by error of account do wrong unto a Merchant, Accounts. he is to amend and to make good the same, not only for the principal, but also with the interest for the time. So on the contrary, if a Factor for his own wrong, have forgotten to charge the Merchant's account, with some parcels paid out for him, or made over by exchange; the Merchant is to answer for it with interest for the time. In these precedent observations, are comprised all other cases of differences which may happen between Factors and Merchants. CAHP. XVII. Of the beginning of Sea Laws. Having in the former Chapters methodically entreated (as also in this hitherto) of the matters therein intended, nevertheless according to the Contents of them, the matter being of several natures runneth promiscuously, but in the end will perform the work. For as the roundness of the Globe of the world is compounded of the Waters and the Earth: So this work of the Law-merchant cannot be complete, without the Sea Laws; so called (Laws) because they are written and known; for without Navigation, Commerce is of small moment, so that the Land affairs shall be intermixed with Seafaring matters accordingly. Some do attribute the first making of Sea Laws, to the Pheniciaus and Carthaginians, because Pliny doth ascribe the Art of Sailing unto them. But by the most ancient Records, the Beginning must be from the inhabitants of the Island of Rhodes, Rhodian Law. situated within the Mediterranean Sea, who were most famous for shipping and sailing, (as Strabo hath written) and surpassing all Nations in knowledge of equity in Maritime causes: and the Mediterranean Sea was for above one thousand years only ruled by their Law, called the Rhodian Law, although augmented with some additions of the Romans. At last (as some have recorded) when all sorts of Laws, by the eversion and lacerating of the Roman Empire were in a manner buried, the Rulers of Rome in the year 1075 made new Sea Laws and Statutes, and so did every chief Seafaring Town upon the said Mediterranean Coast, adding thereunto other ordinances. So did they of Marseilles, in the year 1162; Genoa in the year 1186; they of Peloponessus called Morea, in the year 1200; the Venetians, in the year 1262; Constantine 1270; james King of Arragon the said year; Peter King of Arragon 1340; and they of Barselona 1434: Which Laws are collected and extant until this day. But on the great Ocean Seas, The Law of Oleron. the first Laws were made by the inhabitants of the Island of Oleron, situate on the Sea-coast of France near Saint Martin de Rea, against the River of Charante, which was called Le Roll d' Oleron: by which the controversies on that Coast were determined, and the said Laws were afterwards dispersed and brought in use in England and the Low Countries; whereupon diverse Statutes both in England and Scotland have been enacted for Seafaring business; and in like manner diverse ordinances in the Low Countries, especially since their fishing trade began. Edward the third, King of England, caused (with the advice of diverse men of knowledge and experience in Maritime causes) diverse Articles to be set down, Admiralty Court in France. and these were enroled and obeyed for the government of the Admiral Court: and the French King, john, made his Contracts with King Edward accordingly, concerning the fishing trade, as by the Records extant in the Tower of London, (where I have seen them) may appear. Francis the French King, and Henry the third of France, have made some Statute Laws concerning the Courts of Admiralty; but the substance of all doth concur and agree with the Laws of Oleron, whereof we shall entreat more hereafter. Frederick the second, King of Denmark, at a Parliament holden at Coppenhaven in the year 1561, hath abridged, as also set down certain Acts or Statutes for the ruling of Sea matters, but for the most para agreeing also with the said Laws of Oleron; which you shall find in this Treatise set down upon every occasion offered unto me, to make application of them in the Chapters following. CHAP. XVIII. Of the manner of Proceed in Seafaring Causes. ALl controversies and differences of Seafaring Actions, or Maritime Causes, aught to be decided according to the Sea Laws, which took their beginning from Customs and observations; and from them is the interpretation of the said Law to be taken: and if any Case shall fall out that was not known before, neither written down and authorised as a Law, than the same is to be determined by the judge, with the opinion of men of experience and knowledge in the said Seafaring causes. And herein is all convenient expedition required, that the matter may be summarily and briefly determined, especially in case of shipwreck; wherein delays or protractions in Law, is a cruelty to vex such afflicted persons. Therefore to prevent appellations, present execution and restitution of goods is used in causes of spoil, upon caution first found by the spoiled, to satisfy the condemnation to the judge, if there be just cause found of appellation; Witnesses in causes Maritime. and to this end also it is permitted that witnesses of the same Ship may be examined, although the adverse party be not called thereunto, Merchants and Mariners sailing together in one Ship, may bear witness each to other, and Mariners against the Master when they are free and out of his command. The plaintiff is to find sureties to pay costs and damages, if he do fail in his proof; and the defendant is to be put in caution to satisfy the sentence, judicio cisti & iudicatum solui. If the defendant do stand out, or commit a comtempt by not appearing for to defend himself or his Ship, or things challenged, the judge of the Admiralty may (after four defaults entered) deliver the possession of the said Ship or any other thing, or part thereof, to the plaintiff, putting in sureties for one year and a day: and if the party appear not within that time, than the property is finally adjudged to the plaintiff. And if he do appear within the time, offering to pay the expenses, and putting in caution to obey and perform the definitive sentence, he shall be admitted. But this caution or sureties are liable absolutely for all from the beginning, and cannot be discharged, as a Bail may be at the common Law, Difference between caution in the Admiralty, and bail at the Common Law of England. bringing in the party at convenient time. Summons and Citations are not needful, where the ship or goods in question are forthcoming; but may be done in the same place where it lieth, or the goods are found. If any man be arrested or troubled for the like matters, he is presently to be discharged upon sureties, and especially Mariners, because they shall not be hindered of their voyage; which he may do with so much goods or the value thereof, as he hath within shipboard, at the judge's discretion: for it is intended that otherwise traffic and commerce is interrupted. CAHP. XIX. Of Buying and Selling of Commodities by Contracts. THE buying and selling of commodities by contracts, may be distinguished three manner of ways, namely, Regal, notarial, and Verbal. The Regal contracts, are made between Kings and Princes and Merchants, which caused the Kings of Portugal to be called, Royal Merchants. For whereas the Venetians had the trade for Spices and other commodities of the East Indies; Regal contracts, called by the Civilians Solemn. the portugals upon the discovery of those parts by Navigation, did bereave the Venetians of that trade, as (by the revolutions of time) other Nations have almost compassed that trade of Spices, and taken the same from the portugals. The Kings of Portugal had always the one moiety of the Pepper by way of contract, and for that they would contract again with the Germans, or other principal Merchants of other Nations and of their own, to deliver the same upon a price agreed, upon the arrival of the Carrackes at Lixborne, according unto which it was sold again with reputation to other Merchants, and dispersed into diverse countries; and so was it also done for Cloves and Mace, and sometimes for Indigo, and the payments were made by assignation in the Banks of Madrill, Lions and Bizanson, and sometimes at Florence and other places; hereupon was the Contraction-house at Lixborne erected and named accordingly, where the said Spices and commodities are brought and sold again. Such are the contracts which the King of Spain doth make with Merchants for the provision of Corn for his towns in Africa upon the coasts of Barbary, as Ceuta, Mosegam, Tangere, and other places, the payment whereof hath been made again by Pepper upon some especial contract, and the Merchants have thereupon also made other contracts with Merchants of the Low-countries to deliver them that Pepper at Amsterdam, and to take Corn in payment: But the case is since altered by the incorporating of the East-India trade. Such were the contracts made by the French king Henry the third, with the great Merchants of Italy, called Le grand party, for Salt, which they by authority did engross for the king, and brought also from other countries by sole permission, causing every household in all France to take a proportion yearly, or to pay for it whether they had occasion to use it or not, which was an Italian invention; and for this they paid by contract unto the king six hundred thousand pounds sterling (being two millions of French Crowns) yearly. Such were the contracts which Queen Elizabeth of blessed memory, made with Merchants of London, for the provision of victuals and apparel for the soldiers in Ireland during the late wars with the Earl Tirone, which did amount to very great sums of money, insomuch that the several contracts for apparel came to ninety six thousand suits of apparel, as I have seen by the Records and Accounts extant in his majesty's Court of Exchequer. All these and such like contracts are made by commissions granted for that purpose to some great officers of the kingdom, who have thereby authority to contract for the same with Merchants or others. notarial contracts have partly dependence upon the same, Notariall contracts called Public. for when those Merchants (which have contracted with Kings or Princes) are to provide suddenly those things which they have contracted for, or to dispose of the commodities which they have bought or engrossed into their hands: Then they deal with other Merchants either to provide them of the said commodities, or to sell them such as they have bought: and these contracts are made by public Acts and Instruments before Notaries, to the end that all things agreed upon on either side may be duly accomplished: and in these great contracts beyond the seas, the payments are (the most part for great sums) made in Banks also, because of the commodiousness of it, as you shall note hereafter. Besides this, many Merchants do make contracts, and pass them likewise before Notaries, or Scriveners, because that things contracted for may require time to effect them. As for example, a Merchant adventurer selleth unto a Merchant of Middleborough two or three hundreth Clothes of known marks (whereby the goodness is also known) at a certain price, the pack of ten Clothes, to be delivered at Middleborough from time to time during the space of six months, and the Middleborough Merchant doth agree that (for the payment of these Clothes) he will send to the Merchant adventurer Linen cloth, and diverse other commodities to be sold in London to pay himself as aforesaid, which commodities are also sent from time to time within the compass of the said time of six months, and the reckoning between them shall run accordingly: hereupon a contract is made in writing before a Notary public, and therein diverse conditions are to be specified and observed. Conditions of a Merchant's Contract. First it is agreed, that concerning the price of the Clothes sold, amounting to such a sum sterling money called lawful money of England, there shall be given for every twenty shillings or pound sterling so many shillings and pence as they shall agree, according to the price of exchange amongst Merchants, and these are shillings and pence Flemish money, whereof there is 35 or 36 shillings, or 35 shillings and six pence, or 36 shillings and eight pence given or allowed in account between them for twenty shillings sterling, and so after the rate for so many hundreth pounds or thousand pounds as the Clothes may amount unto. Secondly it is agreed, that the Merchant adventurer shall bear the adventure of his Clothes, and deliver them upon his adventure, charge, and danger of the seas, with all casualties, unto the Middleborough Merchant within the town or warehouse of the Merchant there; and likewise that the Middleborough Merchant shall bear the adventure of his Linen Cloth, and other commodities, answer the King's Customs, and all charges incident upon the said commodities, until they be freely taken up into the Merchant adventurers warehouse here. Thirdly, it is agreed between them (these foreign commodities being sold paiable at times of payment) that if any bad debts should be made thereby, either the Middleborough Merchant is to bear the loss thereof, or else the Merchant adventurer doth take the hazard and adventure of it upon him, for the consideration or allowance of double factoridge, or two upon the hundreth. Fourthly, it is agreed between them, that if the payment of the commodities of the Middleborough Merchant be not made within the time of six months, according as the Clothes were sold; then the Merchant adventurer is to have allowance for the money by him not received within the time after the rate of ten upon the hundreth for the year. Lastly, (because the Merchant adventurer taketh pains in the selling of the Merchandise and Commodities of the Middleborough Merchant to pay himself) it is also agreed upon, that the Merchant adventurer shall have allowance of factoridge for it, after the rate of two pro Cent. which he should have given unto another Factor to sell the same for him. This is the substance of a Merchant's Contract, wherein it seemeth all things have been well considered and agreed upon; yet the principal matter for good and sure dealing is omitted, Defective contracts. which is not only to covenant that the Middleborough Merchant shall send him good and merchantable wares or commodities to make money of, or to sell to good Customers that will make him good payment, but especially, that the Merchant adventurer shall not be compelled to send him more clothes than the value of the commodities received shall amount unto from time to time. And further, if he do not send him within the time the quantity of commodities requisite to pay himself for so many Clothes; The said Middleborough Merchant shall pay him the damages sustained by the employment of his money in Clothes, or a certain sum of money agreed upon between them for the non-performance thereof. In like manner a London Merchant doth contract with a Merchant stranger here, and buyeth of him a certain commodity, whereof the goodness is commonly known by the mark, or otherwise by the Fabrica or making, as Velvets, Satin, Silks, Fustians, and other commodities to be here delivered unto him by such a day, or within so many months, at a price agreed upon between them, with the manner of payment, and other conditions agreed also; hereupon likewise passeth a notarial Contract which is performed accordingly. But put the case, That the price of the said Velvets and Silks by some accident or occasion doth fall, and the London Merchant doth repent himself of his bargain and contract, and now some of the said foreign commodities are come from beyond the seas, and arrived within the river of Thames, whereupon the Merchant stranger giveth notice unto him of it, and the London Merchant seemeth unwilling to receive the said commodities, and is constrained either by a Scrivener or with witnesses to offer unto him the said commodities according to their contract: Tendering of commodities sold by Contracts. here note that this offer or tender so made is of no validity or effect in Law; for until the King's Custom is paid for the said goods, and that you have received them into your power or custody, you can make no lawful offer of them. Moreover, if you have paid the King's Custom for them, and have them in your custody and power, and do make tender of them before the time; yet the Law is not satisfied herein, but you must tender them also upon the last day of delivery, because the damages to be given unto you by Law must take a certain ground upon the limitation of time, and not upon casualties; for it might fall out, that the price of the said commodities should rise within that time, and you might sell them for a greater gain, and by that time of the last day of your delivery they might be fallen again in price, and you might have provided another parcel for the same, so that both by the Common law and the Law Merchant you are to make your tender upon the very day by a Scrivener, or with competent witnesses, whereof I have seen sufficient trial in Law. And according to these two examples, you may judge and consider of all other the like contracts we call notarial. Verbal contracts called Private. Verbal contracts are made between party and party, or by means of Brokers or Mediators, and that only by word without writing. Such are the daily buying and selling of commodities either for ready money, or payable at some days of payment, wherein the mediation of a Broker is most necessary: For as it would be troublesome to use Scriveners in every bargain; so is it commodious to use the means of Brokers, the commodities are not only bought and sold with more credit and reputation, but all controversies which do arise by misadventure or otherwise are sooner determined, and a sworn Broker is taken as a double witness, if he do produce his book, with a Memorandum of the bargain, as the same was agreed between both parties, whereby many variences are reconciled, and differences (like to fall out) are prevented. The most beneficial contract. I had almost forgotten the most memorable contracts that ever were, whereby the Philosopher's Elixir or stone is found, turning Lead, Paper, and Ink into Gold and Silver, which is the contract of Popes for their Crusadoes or Bulls, whereof there are certain contractors, who for a certain sum of money yearly to be paid, do receive authority to disperse the said Pardons or Bulls into the West-Indies, Perou, Nova Espagnia, and all those quarters of the world, and every reasonable soul must have one of them yearly, and that this is the most beneficial contract I prove thus. In the year 1591. Pope Sixtus Quintus caused two ships to be laden out of Spain for the West-Indies as aforesaid, with some 100 Butts of Sacks, 1400 little Chests containing each of them three ordinary small Barrels of Quicksilver weighing 50 ll the piece, to refine the Silver withal in the said Indies: and moreover with a great number of Packs of the Printed Bulls and Pardons granted at that time, to make provision against the Heretics; Forasmuch that the great Armada of the year 1588., had so much exhausted the treasure of Spain. These two ships were met withal at sea by Captain White (who was laden and bound for Barbary) and brought into England by him, where the commodities were sold: but the Pope's merchandise (being out of request) remained a long time in Warehouses at the disposing of Queen Elizabeth; until at last at the earnest request of her Physician called Doctor Lopes, she gave all the said great quantity of Bulls unto him, amounting to many thousands in number. This courtly Merchant (falling in communication with an Italian knight, who had been a Merchant) did conclude with the said knight to make a partable voyage between them, and to send those Bulls into the West-Indies, and accordingly a ship was freighted and laden with the said Bulls and some other commodities, and did perform the said voyage to the Indies: but no sooner arrived, the Pope's Contractor for that commodity did seize upon all the said Bulls, and caused an information to be given against them, that they were infected, having been taken by Heretics; it was alleged that they were miraculously saved, but lost they were and confiscated, and so covetousness was well rewarded. But returning to prove this beneficial Contract, The Pope his Merchandise. I was at the time of the taking of the said Bulls willed by authority, to make and estimate what the lading of these two ships might cost, and what they might have been worth in the West Indies, according to the rate of every Bull, taxed at two royals of plate, and some four and some eight royals according to their limitation, every one being but one sheet of paper; and by computation the lading did not cost fifty thousand pounds, and would have yielded above six hundreth thousand pounds: for these contracts are fervent and full of devotion, containing also a commandment that their beds should be sold, rather than any one should be without a Bull, for the safety of the soul was to be preferred before the health and ease of the body. Now before we entreat of extravagant Contracts in the buying and selling of commodities in some places, it will not be impertinent to note the observations and opinions of Civilians concerning Merchants Contracts, which they have distinguished to be Solemn, Public or Private, as in the Marginal notes is before declared, to the end all controversies may be avoided in the said Merchants Contracts. The Civilians writing, De Contractibus Mercatorum, Merchant's Contracts are to be plain. or of Merchants Contracts make many distinctions: but the conditions agreed upon between them, are chief considerable, and to be well declared to avoid ambiguity and constructions, and reciprocal things to be performed on both sides, which bindeth them better; so that if a Contract be broken, whereby the one party is damnified for the want of his money or goods not delivered, whereby he can make no benefit, and is hindered in his trade by Lucrum Cessans or not getting, the other party may justly demand recompense for the same, especially if he be a merchant, otherwise some Civilians make the same questionable, as Fishermen, Fowlers, and Hunters, which say they cannot demand any loss for want of their own, because (by their professions) they are uncertain, whether they shall catch or take any thing by their Art. Nevertheless the Merchant's Court hath an especial care to perform well with Fishermen, Fishermen are to be respected upon Contracts. and that with all expedition of justice they may be dispatched to follow their trade, without any intermission of time. This damage sustained by Merchants or others, The first damage upon Contracts to be regarded. for the non performance of Contracts, cannot be demanded by a continuance of time, running Ad infinitum, during the matter in question: but must be demanded according to the first damage received, as the party can duly prove the same, either by witnesses or upon his oath, as the cause may require. Therefore when Merchants are contending in any Courts of Equity or Law, where they are delayed for many years in continual suit at their great charges: Then it tendeth to the interrupof trade and commerce in general, and the overthrow of the parties in particular, whereof the Law of Merchants hath a singular care to provide for, and therefore doth many times (though not without danger) admit the proof to be made upon the party's oath, if witnesses be absent. Penalties upon contracts. The penalties or forfeitures upon any Contract limited and expressed, be it Nomine Poene or otherwise, are therefore much to be considered of in equity to make them stand, and to be effectual for the mainetenance of Faith and Credit between Merchants, and they are consequently much approved by all Civilians, and by their Law allowed. In all Contracts, made for a copartnership in providing of a joint Stock, is to be observed, that the one or some of them do not defraud the other. Also it is approved, that they may sell their adventure to others, and the buyer is to take the account according to the Contract, Observations in partable contracts. for the account given to other partners in Societies, doth always bind the buyer proportionably in these adventures, and the parties dying, the widow or his heirs are to accept thereof accordingly both by the Civil Law and the Custom of Merchants. As is well observed by the Society of the Merchants trading for the East Indïes, both in England and beyond the Seas; for it is not accounted any danger to trust a Society, and to deliver money for trading and where no damages or adventures be borne, is usurious, as shall be declared hereafter. Verbal contracts for money etc. To enter into consideration of some Verbal Contracts, some Customs are be observed, which the Civilians make questionable. A Merchant doth deliver some money unto another Merchant, to be employed by him in commodities, or to be put forth to use for both their benefit and profit, without any limitation of time agreed upon between them; the question is, when this Merchant that did deliver this money may call for it again; wherein most Civilians are of opinion, that the same cannot be demanded before the year expired, which seemeth the more reasonable, if the Law will not allow unto the other party, a loss sustained thereby by fire, water, or any other casualty, unless he do declare and manifest the same within the year. Nevertheless if this money were delivered to one that maketh a continual gain by money, as some Goldsmiths do, by taking the same for two, three, or more days, and allowing benefit for it: than it may seem reasonable, that the money may be demanded at all times upon warning given for the time, without which, no man may be supposed to be so careless in the delivery of his or other men's money by a Verbal contract, as the said Civilians have surmised. Again, suppose this money were delivered to a father and his son jointly, whether the same shall be redemanded of the father and of the son by equal portion half and half, or of them both▪ Hereupon they are of opinion, if the father did receive the money, and that the son be under the government of the father, than the father is to answer for all: But if the son do (as it were) govern the father, because he is old; then the son is to answer for the money. Now the Law-merchant obligeth them both to answer for the said money, unless the son were under years. But this question may be thought extravagant, for contracts are commonly notarial in this case, and between partners, Notariall contracts surest. and where one partner bindeth another, it is only to be understood to continue the time of their partenership; whereas to become bound each to other for so much as shall be found due, is dangerous and full of cavillation. So that (as before is remembered) every thing is to be plainly expressed, but especially to be carefully observed between partners. For the Stock also between partners by contract to continue in trade, is to be without diminution or any other employment to be made, during the said copartenership, which is limited therefore for a time and not by voyages or employments; the charges on both sides to be limited: but hereof more upon the title of Partners or Companies. To make these Notariall contracts more authentic and sure, when due regard is had of reciprocal actions, to avoid Nudum Pactum, the Bonds made by each party to other in a sum of money for the performance thereof, are to be preferred before the limitation of a penalty contained in the contract, albeit that these Bonds being put in suit, causeth the other party to fly into the Chancery; but the Merchant's Courts proceed herein with more expedition. There are also certain Merchants contracts, which (in regard of the conditions) are called Extravagants, Extravagan contracts. because the manner either of buying or selling of commodities, and the payment made for the same, is rare and but used in some places, which nevertheless are made in writing by notarial contract, or by the Broker's Book recorded, whereof I think fit to make a Chapter apart, touching the commodities sold by Brokers, as hereafter may appear. A Merchant in Spain dealing for the West Indies, Nova Espagnia, Terra firma, or Peru and other places in America, will buy a round quantity of Germany commodities or manufactures made there, and in the Low Countries, either Yronmongers wares, as Hatchets, Axes, Knives, Bells, Beads, Needles, Basins, Candlesticks, Counters, Locks, Nails, and diverse sorts of commodities; and he is made acquainted by the Inuoice or Cargasson of those goods what they did cost in the places from whence they came, where the Merchant owner of the said wares, hath augmented his price in the said Invoice, and so the Spanish Merchant doth make him an offer of so many Maluidies for every pounds Flemish, or Hamborough money, Conditions to be observed in them. or for every dolor or other coin whereby the same was bought, according as the party by his observation is able to judge of the value thereof, by his often buying of the like: but the payment is agreed upon to be made sometime after the return of the West-Indies Fleet, that is to say, When most Ships going outwards shall return again into Spain, but whether the buyer of those goods do receive any return of the provenue of the said goods or not, is a matter not material to the seller of the goods, for he beareth no adventure of bad Factors, evil paymasters, or other accidents; but must be paid at the time agreed upon, according to the ordinary Custom thereof, unless it were agreed that he should bear the adventure of the Seas for a sum in certainty in nature of assurance, or upon some unexpected alteration, which might happen in the said assurance, which is another contract, as hereafter more amply will appear in his proper place. Another Merchant selling by contract, some commodities to be delivered at the return of the said West Indies Fleet, Posito a certain quantity of Cutcheneale, as the price shall be broken in Spain upon the arrival of the main Partida; this Merchant commonly taketh a sum of money before hand, whereof he alloweth interest for the time, or else he abateth a certain allowance in the price of the Cutcheneale less than the price, which by authority and consent amongst Merchants is made, that is to say, If the best sort called Misteca be set at 40 Ducats the Ro●ue of 25 ll weight, he shall abate him after 20 or 25 ꝑ 100 Now if the price of Cutcheneale be high or low, the interest of his money formerly disbursed (by the said abatement) must needs be accordingly: So that the best advantage is to take the interest after a rate certain, and the price of the Cutcheneale, as it shall and may f●ll out, the like may be observed for all other commodities. The Bankers have found the same by experience, by dealing with the Kings of Spain and Portugal, when they make Partidos with them to furnish them monies in their occasions, by making them to pay exchanges and rechanges for it after a great rate. And nevertheless, they will be sure to have Pepper or any other commodity, at a certain rate agreed upon between them, Money payable at the return of the Fleet. or else in ready money payable also at the return of the said West-Indies Fleet, albeit they do not bear the adventure of the Silver Bullion or royals of eight, rather admitting a clause, that if the treasure do miscarry they shall have their monies repaid within a certain time and interest of 7 ꝑ 100, unless it be they agree for the Pepper belonging to the King, for many years to be taken at a reasonable price, they bearing the adventure of the Seas. As the Lords Foulkers of Germany did contract in the year 1592., with Philip the second King of Spain, whereby they became losers, by the taking of the great Carrack the Mother of God at the Seas, the next year following. Now because in the precedent Chapters, we have spoken of a Bank, and the payment of Bankers: it will not be impertinent to entreat thereof, before any further proceeding, to the end this matter may be understood of every Merchant and others. CHAP. XX. Of Banks and Bankers. A Bank is properly a collection of all the ready money of some Kingdom, The description of a Bank. Commonwealth, or Province, as also of a particular City or Town, into the hands of some persons licenced and established thereunto by public authority of some King, Prince, or Commonwealth, erected with great solemnity in the view of all the people and inhabitants of that City, Commonwealth, or Kingdom, with an intimation thereof made diverse times, to be upon such a day in the open market place, where a scaffold is purposely erected, with an ostentation of great store of money of Gold and Silver, supposed to belong to these persons or Bankers so established; which is unto them an attractive power to persuade and allure the common people to bring their moneys into these Bankers hands, where at all times they may command it, and have it again at their own pleasure, with allowing them only a small matter of five upon every thousand ducats or crowns, when any man will retire or draw his money into his own hands again: which although it be but in twenty years, yet during all that time, they are to have no more; so that these persons or Bankers do become (as it were) the general Servants or Cashiers of that Province, City, or Commonwealth. These Bankers, as they have their Companies, Factors, or correspondence in the chief places of trade in Europe, so must they also keep account with every man, of whom they have received any money into their Bank, out of which number, no man of that jurisdiction is almost exempted; but generally all men are desirous to please them, and to bring their ready money into their Bank, as also such money as they have in foreign parts. In regard whereof, these Bankers do give them great credit; for if any man have occasion to bestow in merchandise or to pay in money 3 or four thousand ducats, and have but one thousand ducats in the Bank, the Bankers will pay it for him more or less, as the party is well known or credited, without taking any gain for it, although it be for 3, 4, 6, or more months. This seemeth to be a great commodity (as no doubt it is to men in particular) but being well considered of, it will be found a small friendship, and no more in effect, than if a man did participate the light of his candle to another man's candle: for what is this credit? or what are the payments of the Banks, but almost or rather altogether imaginary? As for example, The manner of the Bankers payments. Peter hath two thousand ducats in Bank, john hath three thousand, and William four thousand, and so consequently others more or less. Peter hath occasion to pay unto john one thousand ducats, he goeth to the Bankers at the appointed hours, (which are certain both in the forenoon and afternoon) and requireth them to pay one thousand ducats unto john; whereupon they presently make Peter debtor for one thousand ducats, and john creditor for the same sum: so that Peter having assigned unto john one thousand ducats, hath now no more but one thousand ducats in Bank, where he had two thousand before, and john hath four thousand ducats in the same Bank, where he had but three thousand before. And so in the same manner of assignation, john doth pay unto William, and William unto others, without that any money is touched, but remaineth still in the Bankers hand, which within a short time after the erection of the Bank, amounteth unto many millions: and by their industry they do incorporate the same, which may easily be understood, if we do but consider, what the ready money and wealth of London would come unto, if it were gathered into one man's hands, much more if a great deal of riches of other countries were added thereunto, as these Bankers can cunningly compass by the course of the exchange for moneys, the ebbing and flowing whereof, is caused by their motion from time to time as in our Treatise of Exchanges is declared. But some will say or demand, Cannot a man have any ready money out of the Bankers hands, if he have occasion to use it? Yes that he can: but before he have it, they will be so bold, as to know for what purpose he demandeth the same, or what he will do with it. If it be to pay any man withal, they will always do that for him, as having account almost with all men; for he is accounted to be of no credit, that hath not any money in Bank. If he do demand it for to make over by exchange in some other country, they will also serve his turn in giving him Bills of Exchanges for any place wheresoever, because they have their companies or correspondence in every place. If he do demand it for his charges and expenses, it will be paid him forthwith, because it is but a small sum, and in the end the money cometh into their hands again. If they pay out money to any man, that having money in Bank will bestow the same in purchase of lands, they will still have an eye to have it again in Bank one way or other, at the second and third hand; so that they once being possessed of moneys, they will hardly be dispossessed, and their payments are in effect all by assignation, and imaginary. And if they have any money in Bank belonging unto Widows and Orphans, or any other person that hath no occasion to use the same, they will allow them interest after four or five upon the hundreth in the year, at the most, and that upon especial favour; for every man seeketh to please them, as in matter where Commodum privatum beareth the rule; for they can easily please men in particular, in giving them some credit of that great credit which they have obtained in general. The money then remaining in the Bankers hands, is employed by them to other uses and purposes. First, they do deal with great Princes and Potentates, The Bankers trade. that have need of money for the maintenance of their wars, as the Genevoises and Germans did with the Emperor Charles the fifth during the wars in Germany, and as the Florentines and others have done with Philip the second king of Spain, and also with his son Philip the third late reigning, causing him to pay 20, 25, 30, and more in the hundreth, by way of exchange and rechange, supposed to happen accidentally. Secondly, they engross thereby diverse commodities into their hands: and lastly, they carry thereby a predominance in ruling the course of exchanges for all places, where it pleaseth them: by reason whereof the city of Amsterdam (to countermine them) have in the year 1608, also erected a very great Bank, The beginning of the Bank at Amsterdam. for the which the said city hath undertaken to answer, whereby they are always stored with money, as appeareth, that the same is plentifully to be had at interest at six and seven in the hundreth by the year, and some at five and under. This custom is now so settled there, that it is as effectual as any law. Of the breaking of some of these Banks, Bankrupt. is the name Bankrupt derived: for when Princes do not accomplish with them, than they cannot hold out, unless they have great estates of their own. Philip the second king of Spain, in the year 1596, was constrained to give Facultad Real, that is to say, A Faculty Royal, or Protection. A Power or Faculty Royal, or a Protection unto the Banks of Madrill, and all their associates for four years; commanding that all those that had dealt with them in matter of Exchange, Interest, Contracts, Letters of Credit, or any manner of ways publicly or secret, and with all their known or unknown partners, should not be compelled to pay any money to their creditors until the year 1600: but in the Interim they should at every 6 months receive interest for their money after the rate of seven pro centum, for the year; and if any man could not forbear his money, he was to deliver the fourth part more in ready money, and so accounted together with the interest due at seven upon the hundreth, the two thirds of all was to be paid him, and the other third was to continue during his life, with allowance of the said interest; and this was to be observed in the kingdoms of Castille, Arragon, Portugal, and the Low-countries, as also in the kingdoms of Naples, Sicilia, and the State of Milan, and finally in all kingdoms and dominions under him, (for so are the words) and in all his warlike forces by sea and by land. This did bring the Banks in great discredit, and the West-India trade was much interrupted by it, and so continued during the said king his life time; and after his decease, moneys have not been plentiful in Spain, insomuch, that in the year 1608, his son Philip the third did give the like Faculty Royal to all men that were to pay money at the return of the West-Indies fleet for one year, paying but 3 pro cent. to their creditors for the forbearance. CAHP. XXI. Of the Freighting of ships, Charterparties, and Bills of lading. HItherto we have been buying and dealing in commodities, and now it will be time to advance our commerce or traffic, and to freight Ships for the purpose to transport over commodities. No Ship should be freighted without a charter-party, meaning a Charter or Covenant between two parties, the Master and the Merchant: and the Bills of lading do declare what goods are laden, Bills of lading. and bindeth the Master to deliver them well conditioned to the place of discharge, according to the contents of the charter-party; binding himself, his ship, tackle, and furniture of it, for the performance thereof. Of these Bills of lading, there is commonly three Bills of one tenor made of the whole ships lading, or of many particular parcels of goods, if there be many laders; and the marks of the goods must therein be expressed, and of whom received, and to whom to be delivered. These Bills of lading are commonly to be had in print in all places, and in several languages. One of them is enclosed in the letters written by the same Ship, another Bill is sent over land to the Factor or party to whom the goods are consigned, the third remaineth with the Merchant, for his testimony against the Master, if there were any occasion or lose dealing; but especially it is kept for to serve in case of loss, to recover the value of the goods of the assurors that have undertaken to bear the adventure with you, whereof we shall entreat in the following Chapters. The persons that are in a Ship may be thus in order, which although they differ in names in many languages, yet they are all one in effect. The Master of the Ship, the Pilot, the Master's mate, the Shipwright or Carpenter, the Boatman, the Purser, the Chirurgeon, the Cook, and the Ships boy. All the rest are under the name Mariners, all these are distinguished in hires and fees in all Countries. The Master therefore doth covenant by the charter-party, Charter-party to find a sufficient Pilot, and all other the foresaid Officers and Martiners, and to provide Shiptycht, Masts, Sails, Ropes, Tewes, Anchors, Shipboat; with fire, water, salt, and all things necessary, at his own expenses. And this charter-party so made on the Master's part, doth commonly declare that it is and all things therein contained, according to the Law of Oleron; according to which Law, Law of Oleron. if there be no writing made, and but an earnest given, than the Merchant if he repent, loseth his earnest; but the Master if he repent, loseth the double of the earnest. Again, if the Ship be not ready at the day appointed in the charter-party to go to Sea, the Merchant may not only free himself of her, except he hold his peace and discharge her not (for then by his silence he seemeth to consent, Qui Tacet consentive videtur. ) but also shall recover charges, interests, and damages, except the Master show some excuse of some pregnant occasion or mischance, which could not be avoided, and then he loseth only his freight, because he hath not deserved it. But if the fault be in the Merchant, he shall pay the Master his damages, or according to the Rhodian Law, Rhodian Law. shall entertain the Ship and Company ten days, and if then he stay longer shall pay the freight of all accordingly; and further shall answer for all hurt and damages happening by fire, water, or otherwise after the time appointed. It is true, that the Rhodian Law chargeth the Merchant in this case but with half the freight, and the Master with the whole freight if he fail: Albeit that the Romans inflict the pain of the whole freight upon the Merchant, especially if he take out his own goods again, for than is the freight thought to be deserved. But if the Ship in her Voyage become unable, without the Master's fault, or that the Master or Ship be arrested by some authority of Magistrates in her way; the Master may either mend his Ship, or freight another. But in case the Merchant agree not thereunto, than the Master shall at least recover his freight, so fare as he hath deserved it. For otherwise, except the Merchant consent, or necessity constrain the Master to put the goods into another Ship worse than his own; the Master is herein bound to all losses and damages, except that both the Ships perish that voyage, and that no fault nor fraud be found in the Master. Admiralty Cases. In the year 1587., the like matter was in question with five Ships coming back without their lading, from Leghorn and Civita Vecchia into England, whereof myself was one of the Merchants that had freighted them, and did intent to receive lading there in Allome: But the Galleys of Don Andrea Doria intending to surprise those Ships (the Grand Armada being preparing in Spain) they came all of them away without their lading; some two of these Ships had lain out all their time conditioned by their charter-party, to take in their lading, and the Masters had notarial protests against the Factors that they should have laden them. These were by the Law of Admiralty adjudged to have deserved their whole freight. Two other ships having not stayed there their abiding days, nor made any protest as aforesaid, could not be found to have deserved any freight at all, although they were laden outward bound. The fifth Ship had a condition or proviso in her charter-party, That if it should happen that in her coming back out of the Straits, she should be taken or cast away; nevertheless the freight outwards (which was accounted half) should be paid, Condition maketh Law. and that half was adjudged unto the Master, and no more, having not tarried there his appointed time. And if this proviso had not been, he could not have recovered any thing; for when Ships are freighted going and coming, there is nothing due for freight until the whole Voyage be performed. So that if she perish, or be taken in the coming home, all is lost and nothing due unto her for any freight outwards, whereof I have also had experience by another Ship. It is also accounted for a fault, if the Master put forth the Ship to Sea, either without a skilful Pilot, or without sufficient furniture and necessaries, according to the ordinary clauses of the Charter-parties, or (as in the precedent case) that the other Ship in which the goods were last put in, be not sufficient, or that the Master do in an unlikely time put forth to Sea. The Emperors Gratian, Theodosius, and Valentinian, in times past did expressly forbid that no man should adventure upon the Seas, from November till April, Sed Tempora mutantur, & nos mutamur in illis. Always it is a great fault by the Law, to put to sail out of any Port in stormy and tempestuous weather. Item, if a Master set forth his Ship for to take in a certain charge or lading, and then takes in any more, especially of other men, he is to lose all his whole freight; for by other men's lading he may endanger the Merchant's goods diverse ways. And in such a case, when goods by storms are cast overboard, it shall not be made good by contribution or averidge, Aueridge. but by the Masters own purse: For if he overburden the Ship above the true mark of lading, he is to pay a fine. Item, if a ship do enter into any other Port or Harbour, than she was freighted for, against the Masters will, as by storm or some force, than the goods shall be transported to the Port conditioned, on the Master's charges; but this must be tried by the Master's oath, and of two of his Mariners, or else the Master may be in further danger. If any man compel the Master to overburthen Ship or Boat, he may therefore be accused criminally, and pay the damages happening thereby. Item, if a Merchant put in more goods into a Ship than was conditioned, then may the Master take what freight he please. By the Roman Law it is imputed for a fault to the Master, if he direct his course by ways either dangerous, through Pirates, enemies, or other evil adventures. Also if he do carry the Flag of other Nations and not his own, and thereby incur any loss or damages: For as Packs, Pipes, and all goods, should be marked with the proper marks of the Merchant to whom they appertain: So should Ships be discerned one from another by their own Flag. The ordinary Charter-parties of fraightments of Ships, made and indented between the Master of a Ship and a Merchant, or many Merchants in freighting a Ship together by the tonnage, Fraighting by tonnage. where every Merchant taketh upon him to lad so many Tons in certainty: are made as followeth, Mutatis, Mutandis, which is done before Notaries or Scrivenors. A.B. Master of the Good Ship or Fly-boot, called the Red Lion of Ratclife, of the burden of 120 Tons or thereabouts, riding at Anchors in the River of Thames, acknowledgeth to have let to freight unto C. D. the Merchant his said Ship, and doth promise to prepare to make ready the same within ten days, to take in such goods, as the said Merchant shall lad or cause to be laden in her, to make (by God's grace) with the first convenient weather and wind (after the expiration of the said days) a Voyage from the City of London, to the Town of Saint Lucar De Barameda in Spain, and there to deliver all the said goods, well conditioned, and in such sort as they were delivered unto him, to such a Merchant or Factor, as the Merchant the fraightor shall nominate and appoint, according to the Bills of lading made or to be made thereof; and there to remain with his said Ship the space of twenty days, to take in and receive all such goods, as the said Factor or any other by his appointment shall lad into her, and as the said Ship may conveniently carry, and being so laden, to return back again for the said City of London, and there to deliver the said goods also well conditioned, to the said C. D. the Merchant, or his assigns. And the said Master doth further covenant with the said Merchant, that his Ship shall be furnished with twelve able men and a boy, ten pieces of iron Ordnance, namely, two Sakers, six Minions, two Falcons, and eight Muskets, with Powder, Shot, and all things necessary, as Cables, Sails, Ropes, Anchors and Victuals requisite for such or the like Voyage, etc. And hereupon C. D the Merchant and Fraightor, doth likewise covenant with the said M●ster, or all the said Merchants do covenant with him, every one for his tonnage as aforesaid, that he or they and either of them, will lad or cause to be laden (within the days limited) the said Ship, with such and such commodities accordingly, pesterable wares or goods excepted, Pesterable wares or commodities. which are goods of great volume and cumbersome, whereof no true computation for tonnage can be made: so that the freight of such kind of goods is made accordingly. And the said Merchant doth further covenant to pay unto the Master, three pounds or more for the freight of every Tun lading upon the full discharge of his said Ship, and delivery of the said goods at London aforesaid, accounting two and twenty hundreth and a half, or so many kintals for a Tun; and in like manner for two Pipes or Butts, four Hogsheads and other commodities rated for the Tun or Last, as four Chests of Sugar, Six Barrels of ●ny other commodity for a Tun (as in the fourth Chapter of Weights and Measures is declared) with Primage, Petilodeminage, and sometimes Pilotage, according to the accustomed manner in the like Voyages, etc. binding themselves each to other for the performance thereof in a sum of money, Nomine Poenae, with such other clauses, conditions, cautions, or other agreements as may be concluded between them, which being well expressed, preventeth all those and the like questions, which the Civilians do discourse upon, as the following may be for an instance. Questions about Fraighting, and their Solutions. If a Ship be freighted by the great, Posito two hundreth Tons for the sum of six hundreth pounds, to be paid at the return; the said sum of 600 ll is to be paid, although the Ship were not of that burden. If the like Ship of 200 Tons be freighted, and the sum is not (either by the Great, or Tun) expressed; then such freight as is accustomed to be paid in the like Voyages, is due, and aught to be paid accordingly. If the like Ship of 200 Tons be freighted by the Tun, and full laden, according to their charter-party: then freight is to be paid for every Tun, otherwise but for so many Tun as the lading in the same was. If the like Ship of two hundreth be freighted, and named to be of that burden in their covenant, and being freighted by the Tun, shall be found to be less in bigness, there is no more due to be paid, than by the Tun, for so many as the same did carry and brought in goods. If the like ship be freighted for two hundred tons or thereabouts, this addition (or thereabouts) is within five tons commonly taken and understood, as the moiety of the number ten, whereof the whole number is compounded. If the like ship be freighted by the great, and the burden of it is not expressed in the contract, yet the sum certain agreed upon is to be paid without any cavillation. If freight be agreed upon for the commodities laden or to be laden, for a certain price for every Pack, Barrel, Butt, and Pipe, etc. without any regard had to the burden of the ship, but to give her the full lading: no man maketh doubt but that the same is to be performed accordingly. If the like ship, or any other (being freighted by the great for a sum certain) happen to be cast away, there is nothing due for freight: but if the ship be freighted by the ton, or pieces of commodities laden and cast away and some saved, then is it made questionable, whether any freight be due for the goods saved pro rata, albeit there is none due at all: for the Assurors are not to be abridged herein by any freight. Hence arise some other questions, Exempli gratia, Whether a Master of a ship (having undertaken to carry over a family, or certain slaves, or cattles, and some of them dying in the voyage) shall have any fraught for those persons or cattles which are dead? whereupon three considerations are incident. 1 If the contract was made for the whole family, slaves, or cattles, than the freight or passage money is due, and to be paid for all. 2 If it be covenanted, that for every head or passenger, the master shall have a certainty: then for the dead never coming to the destined place, there is nothing due. 3 If it do not appear how the agreement was made, but that there is a certain sum agreed upon; then that agreement being an entire thing, is to be performed, although some died: the reason is, because there was no fault in the master, and therefore the rule of Re integra remaineth good: and if a woman be carried over and be delivered of a child in the voyage, yet there is nothing to be paid for the passage of the child which she carrieth in her arms. There is an ancient question, Whether a Master of a ship who promised to place another in his ship, and to expose him in a certain place, can demand any recompense for the same, he never having placed the party there; but the party came into the ship, and so went over: wherein they consider the difference between living creatures and rational, or things dead and insensible: and diverse other reasons which I omit, for it may well be compared to the disputation de Lana Caprina, whether the hair of the Buck be wool or hair, which putteth me in mind of a pretty tale, which for variety of theme, I here bestow upon merry conceited mariners. The Poets (having made Charon to be the ferrieman of hell, A merry tale of Charon's wager. passing over the souls of an infinite number of persons of diverse professions) fain, That on a time a Sophister was to be transported, who took exception at Charon's Beard, and by a syllogism would prove him to be a Goat, framing his argument in this manner, A Goat hath a Beard which is never kembed, and you have a Beard which is never kembed, ergo you are a Goat: Charon answering, did wonder at his conclusion, and took upon him to prove the Sophister to be an Ass, because that of a comparison he made an argument: for sayeth he, if you had made a syllogism in this manner, A sophisticated Argument. That which is Hail is no Snow, Haile is white, ergo Snow is not white; then there had been some show of Reason. But tell me, what is an Ass? and the Sophister answered, It was a living creature without Reason, and being demanded what Reason was, he said, It was to follow and use the good, and to shun the evil: then Charon concluded upon his own words, and said, Your own words have proved you an Ass, wanting Reason; for you had no Reason in the world, whereby you should be guided to follow the good, which is virtue, but you have followed evil, which is vice, which made you to come hither to receive the punishment of an Ass, which (being incident unto most mariners coming on shore) I wish them to remember thanksgiving to God. And to conclude concerning Fraightments and Charterpa●ties, let us observe, that equity in all things is to be considered, and especially in sea-fairing causes, and cavillations are to be avoided, as for example, A Merchant freighted a ship with all his furniture by the month, and putteth into her the Master and Mariners, and victualled the same at his charges, and maketh a charter-party with the owner, promising to pay for the use of the ship and furniture twenty pound every month at her return into the river of Thames, and so ladeth in her for the Straits, Equity in seafaring causes much to be regarded. and to go from Port to Port in several places with merchandise,: and after two years, or thereabouts, having taken her lading in Barbary, cometh for London, and by storm and tempest the ship was cast away near Dover, and the goods were saved; hereupon the Merchant denied to pay the freight monthly to be reckoned, because the ship did not arrive in the river of Thames, according to the words in the charter-party. Herein the owner was much wronged: for the money is due monthly, and the place is named only to signify the time when the money was due to be paid; for the ship deserveth wages like unto a labourer, or like a mariner which serveth by the month, who is to be paid for the time he hath served, although he dies before the voyage be ended, as we find daily that the East-Indies company payeth to their wives or friends, The labourer is worthy of his hire. The ship is not freighted by the great, to run that adventure, which is noted before, neither was she wanting her furniture of Cables, Anchors, Sails, Ropes, or any thing whereby she was disabled to perform the voyage, and might be the cause of the casting away: for if it were so, then there were great cause given to deny the payment of the freight. Again, where it was alleged, that the said owner hath made assurance upon the ship, for more than the same was worth, and did thereby recover of the Assurors a benefit towards his loss, this did not concern the Merchant, but the Assurors: and if the assurance were orderly made, the said Assurors have paid the same duly, that is to say, If the policy or writing of assurance did declare, That the owner did value his ship in such a sum; whereof hereafter you may read in the proper place, entreating of the nature of Assurances. A Merchant valued one barrel of Saffroh at 1000 ll, having privately put so much in Gold in the same, the Gold was taken, but the Saffron was delivered, and the Assurors did pay for the Gold. And the like is for Pearls or other things so valued. Item, when Coffers, Packs, or Pipes, and other marked commodities or goods are delivered close packed or sealed, and afterwards shall be received open and lose, the master is to be charged for it, until a due trial, and that consideration thereof be had; he must also answer for the harm which Rats do in the ship to any merchandise for want of a Cat. The Merchant on the other side, is to be bound by the said charter-party to pay the freight of the goods by him laden, either by the Last, Tun, or by the Pack and Fardel, according to the agreement; accounting for a Last, Tun, or other thing, after the rate of a Tun lading, wherein pesterable wares which take a great deal of room are excepted, and must be agreed for, and the goods laden are liable for the payment of the freight. The Merchant likewise doth covenant to pay Pilotage, if a Pilot be used to bring the ship into the harbour; also primage, and petilodmanidge to the master for the use of his Cables to discharge the goods, Pilotage. Primage. Petilodmenidge. and to the mariners to charge and discharge them, which may be six pence or twelve pence for the Tun lading, with some other clauses and agreements made between the said Merchants and Master: wherein it is not a miss to limit a good sum of money on either side to be paid for the performance of the charter-party, and to covenant the same by the said charter-party, whereof I do here prescribe but one form, considering the diversities of conditions therein used, as the Merchant and Master can agree, which every Scrivener doth usually make accordingly, as in this Chapter is rehearsed. (* ⁎ *) CHAP. XXII. Of the Master of the Ship his power, and duty of the Master to the Merchant. Law of Oleron. THe whole power and charge of the ship being committed to the Master, requireth a stayed man and of experience, whereunto the Owners are to take great heed, for his power is described partly by the Owner or setter forth of the Ship, and partly by the Common-law of the sea; by means and virtue whereof the Master may, if need be, borrow money in a strange country, with the advice of his company, upon some of the tackle or furniture of the Ship, or else sell some of the Merchant's goods, provided that the Merchant be repaied again at the highest price that the like goods are sold for at the market: which being done, the freight of those goods so sold and repaied, shall be also repaied by the Master to the Owner of the Ship, aswell as the freight of the rest of the Merchant's goods, except the Ship perish in the voyage in this case, only the price that the goods were bought for shall be rendered, and for no other cause may the Master take up money, or sell any of the Merchant's goods, although it were in the danger of shipwreck. The duties of a Master of a Ship, etc. Such is the duty of a Master of a Ship that is provident, that he ought not to make sail and put forth to sea, without the advice and consent of the most part of his company, especially when the weather is stormy, otherwise he shall answer the damages that cometh thereby; principally, if he have not provided an expert Pilot, or if the Ship happen to fall over in the harbour. The Master shall be punished also by damages, if the overloope of the Ship be untyth, or the Pump be faulty, or a sufficient covering be wanting, especially for Corn, Victual, and such like commodities. He is also before his departure to deliver the names of all the persons which he is to transport, and of his mariners, which with us is but lately established: and at his return he is to deliver a true Inventory of the goods of any persons which shall happen to departed this life in that voyage, not only because his kindred and friends may have intelligence of it, but also because their goods may be safe and forthcoming for one whole year: of which goods in the mean time, the bedding and appurtenances may be taken by the Master and his Mate to their uses, as also such clothing and other things then upon his body, may be delivered to the Boatman and the company, who do for that dispose of the dead body, putting the same into the Sea. When any goods or merchandises are delivered unto the Master, or his Clerk the Purser of the Ship, and laid within board, or to the Ships side, both ways, is at the Master's peril. But the Master is not bound to answer for such things as are put in his Ship, without his and his companies knowledge; Ignorance is here a good excuse. because where men are found ignorant, they are also esteemed not to consent. But if the Merchant or Passenger keep his goods by himself, as moneys or such things, in his Coffers, and then find fault to have lost them: then the Master and Company are to purge themselves by their oath; but if afterwards notwithstanding they be found guilty, the denier shall pay the double, and also be punished for perjury. The Master is liable for all damages sustained by bad Hooks, Ropes, Blocks, or Lines, if the Mariners do give notice of it, and they shall bear their parts in the damage, and so is he also to answer any damage happening by unreasonable stowing or breaking of goods, and therein he and his company may be put to their oath. Further, whatsoever shall happen through fault, negligence, or chance, which might be avoided, or if it be done by the passengers or other than himself and his company, the Master is answerable. If by the Master's default, confiscation of goods or other damages happens for nonpayment of Custom, Law of Oleron or false Bills of entries in the Customhouse for goods, or for transporting of unlawful goods, the Master shall answer for the same with the interest. But concerning the suing for the said goods, the Master may well do it, as the Merchant may pursue for spoiled goods. And notwithstanding if it shall be found, that the Merchant is in any fault concerning the goods, as aforesaid; then if the Master, and four of his company, Mariners, swear no fault to have been in them, the Master shall be cleared thereby. The Master is to keep his company in peace, and if any Mariner shall be hurt in doing service, or by his companion, the Master shall cause him to be healed, as he who is only answerable for the fact within shipboard, and then by his authority recover from the other Mariner the charges, and any thing that the hurt man hath lost thereby; except that he who is hurt or lamed, have provoked the other by evident assault or strokes. And if a Mariner fall sick, the Master shall cause him to be laid in a house, with all sustentation necessary and usual in the Ship; but shall not stay the Ship until he be healed: and when he recovers health shall give him his hire, or if he die shall give it to the wife or nearest friends. But if a Mariner be not hurt in the Ships service, the Master shall hire another in his place who if he have a greater hire, that Mariner then shall recover the surplus. And always the Master ought to lend his Mariners if they want. If through the Master's fault the Shipboat perish, with any Mariners in it, by spoiled Ropes or otherwise, then shall the Master pay one whole years hire to the heirs of the drowned. Item, he ought to give his Mariner's Flesh upon Sunday, Tuesday, and Thursday, and upon other day's Fish or such like, with sufficient drink; but no meat to them that sleeps not in the Ship. Nevertheless the quality and quantity of Mariner's food and hires goeth diversely, according to the diverse Customs of Countries, and the conditions made with them at the entering of the voyage, whereof remembrance is to be kept to avoid discords, which are more dangerous on the Seas than on Land. CHAP. XXIII. Of the Duties and Privileges of Mariners. ACcording to the Law of Oleron, Mariners own all due obedience to the Master, not only in flying from him in his wrath, so fare as they can, but also in suffering; yet may they after one stroke defend themselves. In case of rebellion of Mariners against their Master, which is thought then to be done, when the Master hath thrice lifted the Towel from before any Mariner, and yet he submits not himself: then may he not only be commanded forth of the Ship at the first land, but also if he make open strife and debate against the Master, he shall lose his half hire, with all the goods he hath within shipboard. But if in this strife a Mariner useth any armour or weapons, than should the rest of the Mariners bind him, imprison him, and present him to the justice: so that if any refuse to assist, he shall lose his hire and all things he hath within shipboard. Yea in case any number of the Mariners would conspire, and force the Master to pass to any other Port than to the which he was freighted, they may be accused criminally and punished, as for a capital crime. And yet if a rebellious Mariner repent in time, and offer amends for a simple rebellion, and the Master notwithstanding refuse, he may follow the Ship and obtain his hire. Mariner's ought each one to help and assist others on the Seas, or else he that refuseth loseth his hire, and the oath of his fellows shall be a proof against him. Mariners in a strange Port, should not leave the Ship without the Master's licence, or fastening her with four ropes, or else the loss falls upon them. They are also to attend the Ship until she be discharged and ballasted new, and the Tackle taken down. And if a Mariner during the time of her discharge and lading, labour not with the rest of the company, but goeth idle, and absents himself, he shall pay a fine to the rest of the company pro rata. In a strange Country, the one half of the company at the least, aught to remain on shipboard, and the rest who go on land should keep sobriety and abstain from suspected places, or else should be punished in body and purse: like as he who absents himself when the Ship is ready to sail, yea if he give out himself worthier than he is in his calling, he shall lose his hire, half to the Admiral, and the other half to the Master. But this especially aught to be executed against an unworthy Pilot. The Mariner also forfeits his hire, if the Ship break in any part, and he help not with all his diligence to save the goods. If it chance otherwise than well with the Master, the Mariners are then holden to bring back the Ship to the Port, from whence she was freighted, without delay, except it be otherwise provided. A Mariner may carry as much meat out of the Ship, as he may eat at a meal, but no drink. A Mariner may keep either his portage in his own hands, or put forth the same for freight, and yet the Ship shall not stay upon the lading of his portage: so that in case the Ship be fully laden before the goods for his portage be brought in, he shall only have the freight of so much goods. If a Ship pass further than the Mariner was hired, his hire should be accordingly augmented, except he be hired a Mareages, mais non a deniers, as the French man speaks, or by the month for all the year. If a Mariner run away with his hire undeserved, he deserves the Gallows. If a Mariner be hired for a simple Mariner, and afterwards in the voyage finds hiring, to be a Pilot or a Master, he may pass, restoring his former hire; and so it is if he marry. Mariners are not only to discharge and deliver goods out of the Ship, but also if no Porters or Carriers be in those parts, to carry the same themselves for such hire as other workmen should have had therefore. If it happen a Ship to be prised for debt, or otherwise to be forfeited, yet the Mariner's hire is to be paid, and if she prosper, to receive their pay in the same money that the freight is paid with. Lastly, a Mariner should neither be arrested, nor taken forth of a Ship making ready to sail, for any debt, but only his hire and as much other goods as he hath in the Ship may be arrested for it, according to the value of the debt, and the Master to be answerable for all; because the Ship is compared to a man's dwelling house, which is his sure refuge by the Law, except it be for a sworn debt, or a penalty to the King through some crime. CHAP. XXIIII. Of the Office of Assurances, and the Ancient Custom of the same. Claudius' Caesar, the fifth Roman Emperor, by succession of government from julius Caesar, who was before the Birth of our Saviour Christ, (borne under Augustus) and the first persecution of Christians was under Tiberius, S●etonius. and the second (more cruel) under Caligula, whom Claudius did immediately succeed. This Claudius did bring in this most laudable Custom of Assurances, whereby the danger and adventure of goods is divided, reparted, and borne by many persons, consenting, and agreed upon between them, what part every man will be contented to assure, make good and pay if any loss or casualty should happen to the goods adventured, or to be adventured at the Seas, as also by Land; to the end that Merchants might enlarge and augment their Traffic and Commerce, and not adventure all in one Bottom to their loss and overthrow, but that the same might be reparted and answered for by many. This Custom coming to the knowledge of the inhabitants of Oleron was recorded, and by them set down for a Law, and practised to be observed through all the Sea-coast Towns of France, and yet was first used in England, and after us imitated by the Antuerpians, and all other Nations there inhabiting when that City did flourish. And whereas here in London, Lombardstreet, than the Exchange of Merchants. the meeting amongst Merchants was in Lombardstreet in London, as aforesaid (so called, because certain Italians out of Lombardie kept there a Pawne-house or Lombard, long before the Royal Exchange was builded by sir Thomas Gresham knight) all the policies or writings of Assurances which then were, and now yet are made, do make mention, That it shall be in all things concerning the said Assurances, as was accustomed to be done in Lombard Street in London; which is imitated also in other places of the Low-countries. These Assurances are made in the said Office in the West end of the said Royal Exchange in London, which are of several natures, as followeth, and at diverse and several rates. The Commissioners for the said Assurances are chosen yearly (or at the least some of them) in the beginning of every year; And at Rouen, at the time when the Merchants of all nations choose their Prior and Consuls. The chief authority with us doth rest in the Lord Mayor of London, confirmed by an Act of Parliament in the later time of Queen Elizabeth (as you may understand by the manner of proceed for Assurances) for the obtaining whereof, I have sundry times attended the committees of the said parliament, by whose means the same was enacted, not without some difficulty: because there was many suits in law by action of Assumpsit before that time, upon matte●s determined by the commissioners for Assurances, who for want of power and authority could not compel contentious persons to perform their ordinances; and the party dying, the Assumpsit was accounted to be void in law. The nature of Assurances. THe nature of Assurances are either upon goods laden or to be laden outwards in such a ship, bound from such a place to such a place. As for example, from London to Saint Lucar upon Perpetuanoes or Corne, until it be laid on shore at Seville, which adventure is as well in the small ships, lighters, or boats, whereby it is carried up to the city of Seville until landing of it, as it was in the ship whereby the said Perpetuanoes or Corne was transported from London to Sain Lucar; and any damage either totally or in part, is to be answered by the Assurors accordingly, and pro rata that every man hath subscribed in the policy or writing of Assurance, as by the said commissioners for Assurances shall be set down. Other Assurances are made upon goods laden or to be laden homewards in such a ship under such a mark, the master's name, and any other circumstances whereby the said goods or commodities may be known to be the same that are assured; as laden, or to be laden, by such a man, in such a place, about such a time, etc. which if it be in any ship that was freighted outwards, may be better specified, or if it be by letters of advice, it may be described accordingly, which adventure may also run from the time that the said goods (posito oils of Vtrera) were laden into any Vessel, Lighter, or Boat, to come down the river to Sain Lucar to be laden in such a ship, or any ship (neither naming the ship nor master) unto the city of London, and the said Oils there laid on land. But to declare that the Pipes are marked with such a mark, to be laden by such a man, doth much strengthen the said Assurance, to avoid cavillations, doubts, or controversies. Other Assurances are made upon goods laden in a ship for a certain place, which ship is freighted going and coming; as for Turkey, or any places in the Mediterranean seas, bound to go into several ports to discharge part of the lading in one place, and the rest in another place; and then to lad again homewards in such another place: and all this Assurance is one entire Assurance, until the ship be returned home, and the goods safely received on land. Other Assurances are made upon goods to be sent or laden from one place to another, and upon the return of the provenue thereof; as from Lixborne to Brasile, and back again to Lixborne; or from Saint Lucar to the West-Indies, Santo domingo, Perou, or any other places, and so back again; or from Portugal to the East-Indies, and in like manner to Lixborne again. All which Assurances are very dangerous, because a man cannot have advice when the voyages are performed; and it hath fallen out, that the Assurors have borne two adventures for one, the ship making two voyages unknown to the Assurors, dwelling in remote places. Other Assurances are made upon the Ship or Ships Tackle, Furniture, and Keel of the Ships, so called because all is to be bound to the Assurors, and likewise the Assurors are liable and bound to answer for the whole Ship, as also for Cables, Anchors, and any Furniture, or part of the same, which is also dangerous and much subject to Aueridges and other casualties, especially if it be upon a Ship that cannot drink of all waters, whereunto diverse men may lay claim; or for some act perpetrated by her in times past, whereby the same may be called in question, which is the cause that the price of assurance upon Ships is almost double. Other Assurances are made upon goods and merchandises sent by land from one place to another, by the Conductors or Carriers to Venice, Frankford, or any other places, wherein the goods commonly are declared, and the mark also: and this manner of Assurance is especially performed by the Conductors, who take for the charges a certain allowance for every pound weight that the goods do weigh, and moreover 2, 3, or 4 upon the hundreth pounds in value that the said goods are esteemed to be worth: and he doth appoint a sufficient guard of soldiers to convey the same by land and rivers to the places intended, which nevertheless by a stronger power have many times been taken by the Freebooters. Other Assurances are made upon the lives of men, for diverse respects, some because their estate is merely for term of life, and if they have children or friends to leave some part of their estate unto, they value their life at so many hundreth pounds for one or more years, and cause that value to be assured at five, six, ten or more for every hundreth pounds, and if he do departed this life within that time, the Assurors pay the money; as it happened of late, that one being engaged for sir Richard Martin Knight, Master of the Mint, caused 300 ll to be assured upon the life of the said sir Richard, being some 90 years of age, and therefore gave twenty and five pro centum to the Assurors: The ancient knight died within the year, and the said Assurors did pay the money. Also one master Kiddermaster having bought an office of the six Clerks of the Chancery, and taken up money of others, caused for their assurance for many years together 2000 ll to be assured upon his life after four and five in the hundreth, until he had paid that money; which is very commodious. Likewise a traveller undertaking a voyage to jerusalem or Babylon, delivering out money payable at his return, will providently assure a sum of money upon his life, either to secure some men that do furnish him with money to perform his voyage, and to put forth the greater sum, or to leave some means unto his friends, if he should die and never return. So that this office is most necessary in all humane actions, and men cannot invent or imagine any thing, but the value of it may be assured, as you may judge by the former examples. And herein must be noted, that Assurors are very fitly compared unto Orphans, because they may endure much wrong, but cannot commit any; for they are to be ordered and commanded by the Commissioners sentence, and must perform the same; to which end the Lord Mayor of London (for the time being) hath authority to commit them to prison, if in case they do not satisfy the same within a time limited, until they do it. Other Assurances are made, and these are the most dangerous of all, because they are made upon ships and goods, lost or not lost; which is not only in regard that a ship known to be departed, doth not arrive in many months after to the appointed place of discharge: but also if any news do come that the ship and goods is cast away, nevertheless if the Assurance be made with the words (lost or not lost) the Assurors bear the adventure of it, vn●esse it can be proved that the party who caused the Assurance to be made, did see the ship when it was cast away, in this case it is a fraud: as the fraudulent dealing of him that had a rotten ship, Fraudulent Assurances. and caused assurance to be made upon her, and caused the same to perish or sink at the seas, to make the Assurors to pay for his rotten ship which could not be sold by him. In the case of Assurances of lost or not lost, I remember that in the year 1583, there was a rich Carrack called the Saint Peter, (coming from the East-Indies for Lixborne) missing a long time, and there was assurance made upon her in Antuerpe, Rouen, and other places, at 30 pro centum. Within three years after, there came or did arrive at Lixborne a smaller ship richly laden, which was made of the other ship which was cast on shore in a certain Island, and thereupon certain controversies did arise between the owners of the goods and the Assurors, as also the master and mariners. At last it was adjudged at Lixborne by the sea-law, that the master and mariners should have one third part, and that the Assurors should come in for so much as they had pro rata assured, all charges deducted; the ship to be the owners of the former Carrack: with the like consideration as aforesaid. Prices of Assurances. Concerning the price of Assurances or Premio (as the Spaniards call it) it is differing in all places, according to the situation of the place, and the times either of war or peace, or danger of Pirates, men of war, or rocks, and unaccessible places, seasons of the year and such like: and the said Premio was never less than at this time, for Assurances are made for Middleborough and Amsterdam at 3 pro cent. the like from London to Rouen and deep, Edinburgh in Scotland, and Hamborough in East-land: and from London to Bourdeaux and Rochel, Lubeck, Denmark, 4 upon the hundreth: as also for Barbary, for Lixborne, Biscay, Ireland, Dansicke, Riga, Revel, and Sweaden, 5 in the hundreth: Seville, Gibraltar, Maliga, and the Islands, 6 and 7: for Leghorn, Civita Vecchia, 8 and 9: Venice 10, Wardhouse 9, Russia 9, Santo domingo 11 and 12: and for the East-Indies 15; nay both for going and coming hath been made at 20 pro centum. CHAP. XXV. Of policies of Assurances, and the substance of them, and of Contributions. We have partly touched what a policy or writing of Assurance is, by the nature of Assurances aforesaid, and the dangers and adventures whereunto the Assurors are subject. But now we are to express them upon the very words contained in all or most policies of Assurances, namely, Of the Seas, men of War, Fire, Enemies, Pirates, Rovers, Thiefs, jettezons, Letters of Mart, and Covenants, Arrest, Restraints and Detainements of Kings and Princes, and of all other persons, Barratrie of the Master and Mariners, and of all other Perils, Losses and Misfortunes whatsoever they be, and howsoever they shall happen or come, to the hurt and detriment of the Goods and Merchandises, or any part or parcel thereof, etc. First, the Policy of assurance saith, That such a man (of what nation or quality soever he be) caused himself to be assured from such a place to such a place, upon goods or, etc. laden or to be laden, in the good Ship called the Dragon, or etc. of the burden of so many Tons, whereof A.B. is Master for such a voyage, and to bear the adventures abovesaid. If the person whose name is used in the assurance, be in time of war taken to be no friend to the State, there is a danger to pay the said assurance; if (after the subscription of the assurour) the goods should be arrested and be made forfeited to answer the same to the Prince, albeit this was by the late Queen Elizabeth contradicted in the point of honour, as it pleased her of a royal and noble disposition to say in a case concerning the portugals, subjects to her adversary, Philip the second King of Spain. For in the year 1589, a great Ship being taken by certain men of war of London, and brought into Plymouth laden with Pepper, Sugar, and other commodities at Lixborne, to be delivered at Venice; it pleased the Lords of her Highness' most honourable privy Council to deliver unto me all the Letters, Bills of lading, and Inuoyces which were found in the said Ship (being written in six or seven several languages) to the end I should make true report of the contents of them, to know to whom properly the said goods did appertain: in doing whereof I found that a great part of the said goods did belong to the Venetians, as also to the Florentines, with whom the said Queen had no quarrel; but that the said goods were assured at Lixborne by the Portugal Merchants. Hereupon there was a pretence to make them good prize, and the matter was long debated, and at last resolved that the parties should have restitution of their goods, the rather for that the portugals were great losers many ways: which was done accordingly. The losses which ordinarily, according to the seasons of the year happen upon the Seas are known: the like is, more or less, with men of war, enemies, Pirates, Rovers and thiefs, L●sses to b● well considered of, in the behalf of the assurors. especially with men of war in times of hostility (as it is in times of peace by Pirates, Rovers, or thiefs) which are assailing thiefs: for otherwise if there be thiefs on shipboard within themselves, the Master of the Ship is to answer for that, and to make it good, so that the assurors are not to be charged with any such loss; which sometimes is not observed. As fraudulent assurances and the loss of stolen goods within shipboard, doth not concern the assurors: so likewise the fault of the Pilot is to be considered on their behalf, by the Laws of Oleron, after that the Pilot hath brought the Ship in sure harbour, he is no further bound or liable: for then the Master is to see to her bed and her lying, and bear all the rest of her burden, charge, and danger. So that if before she come into the Port or some safety, either she or goods perish or be spoilt, Laws against unskilful Pilots. the Pilot makes good the same; yea if his fault or ignorance be so gross, that the company sees any manifest and present wrack to all thereby, then may they lead him to the Hatches and strike off his head. Moreover, if without apparent danger, some of the skilfullest Mariners deem that a Pilot is not so skilful, as he maketh boast or profession of, then shall he both lose his hire, and double the same to the Admiral and Master, or else (by the Law of Denmark) pass thrice under the Ships Keel. And also if a Pilot hired for a voyage be not ready against the day, he shall not only pay the Master and Merchant's damage or stay; but also the freight that is lost thereby, except sickness or some very lawful excuse qualify the same. The like consideration must be had in the contribution made to satisfy Pirates; for if ship or goods be redeemed from a Pirate, the contribution must be made by all, because the redemption is made for the safety of all. Contribution for Pirates. But if the Pirate be once master of all, and yet take but some special goods, whether from Ship or Merchant, and not as a contentation for sparing of the rest: in this case because the remainder is not assured thereby but freely spared, no contribution is to be made for the taken goods, to charge any assuror with any part thereof; For oftentimes Pirates take but things at pleasure and not of mind to spoil. But now adays commonly it is taken and supposed otherwise, howbeit beyond the Seas the loser of the goods so taken, beareth his own loss unless it be assured. It was so judged by a pack of Stockings taken (out of a ship of Amsterdam bound for Sanlucar) by the Moors of Barbary, in the year 1589, and the assurors paid accordingly, who had assured only upon that Pack: whereas if it had been cast into an Aueridge to make all the assurors of that Ship contributary, the ●aid assurors had been much eased. Contribution for spoiled goods. And it is therefore to be observed, and the Law of Oleron is, If by the losing of any cast goods, or upon any needful occasion the remaining goods be spoilt, either with wet or otherwise, a contribution shall be made proportionable for so much as they are made worse. Again, if it be needful to lighten a Ship, for her easier entry into the harbour or channel, Contribution for lightning two parts of the loss fall upon the goods, and the third part upon the Ship, unless the Ship is more worth than the lading, and that the charge of goods be not the cause of her inability to enter, but some bad quality proceeding of the Ship itself, or that otherways it be provided in the Charter-party, that the goods shall be fully delivered at the Port covenanted and appointed for them. Condition makes law, which concerneth the assurors also to look unto. In which case it is also to be observed, That if by occasion of lightning, the goods which are in the Boat or Lighter perish, the Ship and the goods remaining on shipboard shall make good the said loss. But on the contrary, if the Ship and goods remaining perish, after the Lighter is once safe, no contribution shall be set upon the goods in the Lighter, because it is a certain rule, That goods are liable only to contribution, when ship and goods come safe to the Port. Item, contribution should be for the Pilots fee, Contribution for Pilots. that hath brought the Ship into an unknown Port for her safeguard, as also to raise her off ground, when the fault is not in the Master. So is it when two Ships rush and cross one over another, and the company swear, that it lay not in their power to stay the same, contribution must be made for the reparation of both their losses; but not so if one of them perish, for which an Action may be brought against the negligent Master or Mariner, who did make her lose. And therefore, if such a chance do happen in the day time by a Ship under sail, against a Ship riding at Anchor; then the Master of that sailing Ship, shall make good the damage and hurt of the other, to the uttermost: and the like shall be done, if in the night the riding Ship do put forth fire and light, or make any crying to forewarn the other. It also appertaineth to this Argument; If some sort of goods, as Salt, or Corn, be laid on heap by diverse partners in one Ship, without distinction, and that the Master deliver to any of them their due measure, and before the rest receive their measures, the remaining Salt or Corn washes or loses; he that had the hap to be first served, enjoys it fully without any contribution to the partners; First come, first served. because when these goods were put into the Ship, it was delivered to the Master, Tanquam in creditum, and so he is become owner, as of money lent, which men are not bound to redeliver in the self same pieces, but in value or such like coin, except there be some condition passed to the contrary. And albeit this is not to be imputed unto the Master as a fault, yet if he that receiveth a loss thereby, will bring in this as an Aueridge, and charge the assurors with contribution, it is unjust, for the reason aforesaid; and the Master must of necessity deliver to one man before another. And therefore in the next Chapter we will set down the manner of execution for contributions, otherwise called Aueridges. Concerning the danger and adventure of Letters of Mart, Letters of Mart. or Contremart, Sive ius Reprisaliarum, or Letters of Marque, every one knoweth that men having these Commissions or Letters from their Prince, are very vigilant in all places to surprise Merchants Ships and goods; for in this, one extremity doth enforce another extremity, when a man is oppressed with robbery; spoils, and violence on the Seas, by men (falsely professing friends) in such sort, that no petition, intercession, or travel, can procure a man's right, but that the subject of one Prince hath open denial of justice, or restitution of goods cannot be had at the hands of a subject of another Prince, nor of the Prince himself, who should suppress injuries and wrongs: Then (because such unjust dealing do import just cause of hostility and warfare) may these Letters of Mart be procured, to the end men may have restitution or recompense of their losses, especially, because these proceed seem to denounce a war without any Proclamation, showing unto other Nations the like distasteful favours as they show unto us, which are allowed to be done by Customs, Reasons, and also by Statute Law in Scotland, and afterwards in England: The assurors therefore cannot be favoured herein. Detainment of Princes. The next is Arrests, Restraints, and detainements of Kings and Princes, and of all other Persons happening both in time of war and peace, committed by the public authority of Princes, as also by private persons, both ways dangerous. Privileged Ships. There are in all Country's Privileged Ships and Boats, serving the Country or the Prince, which have great Prerogatives, and are free of Impost and Customs, and not subject to arrests; therefore the assurors are not to care for them, for they are to serve the Prince: and all Ships are subject to this service upon command, and if they refuse, their Ships are forfeited by the Sea-lawes: therefore in these cases the favour of the Admiral is always required. It is an ordinary matter in Spain and Portugal, to make an Embargo upon all Ships, at the departure of the West-India Fleet, or the Carrackes for the East-Indies; and many times upon other occasions, whereby Merchants Ships being laden are much hindered, especially, if it be with Wines, Oils, Raisins, and such like perishable wares. Now if the owner of the goods, shall think that his wares do perish, lying two or three months laden, or if it be Corn that may become hot and spoilt; he may renounce these goods or wares to the assurors, and thereby bring a great loss upon them. Yet nevertheless he shall not need to abandon the goods, for by the Policy of assurance it is always provided, That in case of any misfortune, it is lawful for him, A Proviso in the Policies of assurance. his Factor or Assigns, or his Servants, or any of them, to sue, labour and travel for in and about the defence, safeguard, or recovery of the goods, and any part thereof. And that the assurors shall contribute, each according to the rate and quantity of the sum by him assured. So that albeit, that it do fall out that the goods be not utterly lost when the Ship is cast away, the assured must recover his whole money; because he hath authority by the Policy of assurance to recover them, or any part of them, as aforesaid, and he is afterwards to yield an account thereof, for so much as doth concern every man ratably: otherwise the assured should be discouraged, if by those means he should make his assurance intricate and subject to all cavillations, and to the interruption of so necessary and laudable a Custom, as the matter of assurance is. Therefore, as in the matter in hand, we have a care for the assurors, that they should not be deceived by those that cause assurances to be made: so on the other side, we would avoid to minister any occasion whereupon they might become quarrelsome, but that all should be left to the Commissioners determination, who are (or should be at the least) best able to examine the premises. Now concerning the Arrests of particular persons, Arrests upon Ships. upon Ship or goods, the assured can make no renunciation to charge the Assurors with any loss either in the total or part, because upon caution given to answer the law, the ship or goods arrested are instantly cleared in all places, either here or beyond the seas, where the arrests are made, wherein the jurisdiction of all courts for seafaring causes are very careful to see expedition used. Barratrie of the Master and Mariners can hardly be avoided, Barratrie of the Master. but by a provident care to know them, or at the least the Master of the ship whereupon the assurance is made. And if he be a careful man, the danger of fire above mentioned, will be the less; for the ship-boy's must be looked unto every night and day. And in this case let us also consider the Assurors; for it hath oftentimes happened, that by a candle unadvisedly used by the boys, or otherwise before the ships were unladen, they have been set on fire and burned to the very keel, with all the goods in them, and the Assurors have pated the sums of money by them assured: nevertheless herein the Assurors might have been wronged, although they bear the adventure until the goods be landed; for it cometh to pass many times, that whole ships ladings are sold on shipboard and never discharged, because they should avoid the payment of Customs and Imposts, and therefore they will break no bulk, but depart for some other place. viz. Ships laden with Gascoigne Wines do come from Middleborough to London, which have been bought by the great, and either the seller of the Wines doth bear the adventure of the seas, or the b●yer. So every year there are diverse ships which come from Norway laden with Deale-boords, Planks, Masts, and the like commodities, which being entered into the river of Thames for two or more days, will departed again for Spain, or some places in the Straits, according as they have made their bargain with the Merchant: in like manner diverse other ships laden with other commodities, upon the like bargains and contracts, will make further voyages, and not discharge in the place were it was first intended and named in the policy of Assurance. Now if after such a bargain made, the ship and goods (either by fire, or any other misfortune) do perish, the Assurors are not to answer for that loss, notwithstanding the general words (And of all other Perils, Losses and Misfortunes whatsoever they be, and howsoever they shall happen or come, to the hurt and detriment of the Goods and Merchandises, or any part or parcel thereof) contained in the policy of Assurance as aforesaid. I hold it also convenient to advertise the Assurors of a case of mine own experience: In the year 1589 I caused the ship of Monsieur Gourdan governor of Calais, to be freighted for Lixborne, and to return back again to Calais or London: A case to be considered in Assurances. the said ship (being arrived at Lixborne) was laden with Sugars, Pepper, and other commodities to return for London; whereupon I caused six thousand French crowns to be assured at Rouen. It happened that the said ship was cast away upon the coast of France, in coming homewards, and all the goods were utterly lost; whereupon intimation being made to the Assurors, I sent to the Commissioners of assurances at Rouen, all my proof concerning the lading of the said ship, hoping to recover the money assured; but upon examination of the Bills of lading, declaring truly the quality and quantity of the goods, my factor of Lixborne (considering the dangerous time of war, and my dwelling in London) left the place of her discharge in Blank, and by letters overland gave me notice of it, which was made apparent to the said Commissioners; yet nevertheless (after the examination of the sea-lawes and customs, and the Paracer had of all experienced Merchants) it was sentenced against me, and the Assurors were cleared, and made only a restitution of the money received by them for their Premio, and yet of that they did abate one half or medio por ciento, as it were ten shillings for every hundreth pound for their subscribing to the policy of Assurance, to my very great loss. To this purpose doth appertain another property of Assurances, which happeneth, when Merchants cause a greater sum to be assured than the goods are worth or amount unto when they are laden into any ship which is expected home wards, making account that their Factors will send them greater returns than they do: in this case the Custom is, A rare custom in Assurances. that those Assurors that have last subscribed to the policy of Assurance, bear not any adventure at all, and must make restitution of the Premium by them received, abating one half in the hundreth for their subscription, as in the case aforesaid, and this is duly observed; and so a Law not observed is inferior to a Custom well observed. To conclude the point of policies of Assurances, let us note, that of necessity it is required as a consideration precedent, that the Assurors must acknowledge themselves to be satisfied of the Premium of Assurance, at the hands of the assured, or any other who doth undertake to pay them: which beyond the seas is commonly paid within six months, because that Merchants assuring each to other, may rescounter their Premios, in the accounts kept thereof between them; for herein is used great trust and confidence between them: and this appeareth also by every man's underwriting in the said policy of Assurance, in these words, I A. B. am content with this Assurance (which God preserve) for the sum of one hundreth pounds. London this 10 of August 1620, etc. according to the sum and time. CHAP. XXVI. Of the manner of Contributions or Aueridges. Having entreated of Contributions or Aueridges in regard of Assurors, now it behoveth us somewhat to speak of the manner how this is executed and performed; by some called Scot and Lot. In the case of casting of goods in tempestuous weather, for preservation of life and goods, the master is to consult with the mariners, and if they consent not, yet the master may cast some goods, if the storm continue: but if the Merchant be present, let him begin to cast, saith the law of Oleron, and next the mariners, who if they unbesill any part to their own use of that which should be cast, are to answer the double. When the master shall come on land, he must (with the most part of his company) swear that he did cast the said goods, for no other cause, but for the safety of ship, goods and lines, which are to be cast into an Aueridge or Contribution upon ship & goods, whether they be burdensome or of small volume, as money, jewels or such like, not being weighty; things upon a man's body, victuals, and such like excepted. But here ariseth a question, Whether goods laden above the overlope, or forbidden goods to be transported, shall be answered by Contribution? Sure if such goods happen to be the cause of any danger or damage, the master shall bear the loss, and also criminally be prosecuted. But if goods unadvisedly (without consent of the owner) be cast out on the sudden, the owner may upon his conscience esteem them to the very value, because the company (by their rash proceeding) hath lost the privilege they had to esteem and appraise the said goods. Also any ships gear or apparel lost by storm, is not within Aueridge, and accounted like unto a workman breaking or spoiling his tools, or ordinary instruments. The like is for goods cast, which were brought within shipboard, without the master or his pursers' knowledge. In the rating of goods by way of Contribution, this order is observed, If they chance to be cast before half the voyage performed, than they are to be esteemed at the price they cost; if after, then at the price as the rest, or the like shall be sold at the place of discharge. The person (whose goods have been cast) is to be careful to have the same estimated before the ship do discharge, and to deal with the master for that purpose. For the law doth intent that the goods delivered unto him, are not only as a pawn or pledge for his freight, but also bound to answer all such Contributions and Aueridges that may happen; and therefore the master may put his helping hand thereunto, until satisfaction be made, albeit that commonly the detaining of other men's goods are not allowed. Three sorts or manner of goods token upon the sea. Herein let us now consider of things taken upon the sea, which are of three sorts: the first we have already noted to be goods taken by Letters of Mart by, ius represaliarum; the second are taken from Pirates or sea Rovers; and the third from professed enemies. Touching that which is taken from Pirates, seeing they be goods which they have wrongfully taken from others, whether they be found in their own or their successors possession; these are esteemed to be a just prize or prey to any taker of them, so that account be made of them to the Admiral. And in case where the taker doth find the goods of his friend or countryman with the Pirate, it is reasonable that restitution be made, upon good consideration of the charges and danger sustained concerning the same. If a ship or goods be taken from a professed enemy, it is to be proceeded in according to the authority whereby it was taken. But if goods be taken by a professed enemy, and afterwards the said goods are taken again from him, and the true owner doth claim them, it ought to be restored to the owner; for the law taketh these goods to be as received and not taken, yet with good recompense for them. But when such goods become a lawful prize to the taker, than the Admiral is to have his tenth part) according to the offer which Abraham made unto God, of the spoil which he took of the fine kings) and the remainder of the goods so taken, is to be proportionably divided between the takers, or according to the composition formerly made. In these cases there is always a favourable consideration to be had: which is the cause, that if two foreign nations be at war, and the one take a ship from the other, and bring her into a port or road within the bounds of a neuterall nation, alike friend to both; then may the Admiral of that nation ordain that ship to be restored to her owner, and the persons captive to their former liberty, even as if she had been brought back to her own port or country again. (* ⁎ *) CAHP. XXII. Of the particulars to be observed in Assurances. THE observations to be considered of in matter of assurances are very material for every Merchant, and deserve a particular Chapter in this Treatise, which I have compiled according to the circumstances of the things themselves, for the assurors benefit. 1 The first I have touched in the Party who causeth the assurance to be made, both for his honest dealing, and whether he be a friend to the State or Kingdom for the reasons aforesaid. 2 To know the Master of the Ship and Mariners to be honest, and of experience, to avoid the danger of Barratrie and other accidents. 3 To take notice of the goodness of the Ship, and of her sailing, especially making her voyage alone, or in company of other Ships: whether she be old or new built, and the price of the assurance to be accordingly. 4 To know by the Map or sea-cards, the distance of the place or country where the Ship is to sail, and the dangers of known rocks and sands. 5 To have a regard what wind must serve, and the true season of the year, which maketh a difference in the price of assurance; as for example, an East or North-east wind driveth from the land for Spain, which is less dangerous, and receiving six or seven pro ciento, when a Western, or Northwest, or South-west (driving from thence upon the land) is to give seven or eight pro ciento: in Winter two in the hundreth more than in Summer, unless it be by calms in places dangerous, as now in the straits for the Turkish Pirates and without it, the Moors of Barbary, or other thiefs. So Ships going for East-land against Winter, will give two in the hundreth more than in Summer. The like for Ships bound for several Ports more subject to casualties, etc. 6 To consider of the places of hostility, where the Ship must unlade or touch, the danger of general or particular Embargos of Ships, the likelihood of detainements of Kings and Princes. 7 Not to assure for unlawful places of trade, or questionable between Princes, as Guinea and there about the West-Indies; unless a good premio be given, as in a manner upon adventures lost or not lost. 8 To know upon what kind of goods you do assure, whether upon Wines, Oils, Salt, Raisins, and such like corruptible and perishable wares, or upon other Staple commodities, as Clothes, Tin, Led or Silks, etc. not subject so ordinarily to Aueridges and contributions as the other. 9 To know what Ordnance and Munition the Ship is provided withal, and not to assure upon the bottom of the Ship, but with good advice. 10 If you assure upon any particular goods marked, to know whether they be laden in the bottom of the Ship, and there is danger of wetting and spoiling; if above in the Ship, there is danger of Pirates, or of casting overboard; about the middle is best. 11 To be advised not to assure, beyond the limitation of your knowledge by the means of others, or from Lixborne to Brazell, or from Venice to Tripoli, or such like voyages, whereof you cannot conveniently have notice from time to time. 12 Lastly, to be provident in the contributions and averidges, to answer for no more than is your due to pay, and to have an inspection of the Bills of lading, if doubt be made of the Commissioners sufficiency or knowledge in cases of this nature. The assurance upon the lives of men (whether aged or young, of good qualities and diet, of disposition gentle or quarrelsome, a traveller or a dweller) being somewhat extraordinary, every man is best able to consider of it by the acquaintance of the persons. (* ⁎ *) CHAP. XXVIII. Of the manner of Proceed for Assurances, in case of losses. WHereas the policy of Assurance remaining with the assured, is registered Verbatim in the Office of Assurances, to the end that if the same should happen to be lost, yet by the said Register, the party may recover of the assurors the several sums by them assured; as also because if any news do come of the casting away of the Ship, the assured may come to the office, and cause intimation to be made to the assurors, and to every one of them in particular of such a loss, which is also recorded there accordingly, expressing the time when this intimation is made, and in cases of assurance made upon lost or not lost, the very hour of the day is to be set down, whereby (if there were any fraud) it may sooner be detected. And if the assured doth think convenient, either for that he hath almost assured all the value of his goods, or that he would have the assistance of the assurors, when there is hope of recovery of any part thereof, or any other cause which may move him: then I say, Renunciation of goods. the party assured may make renunciation of all the goods to the assurors, and he shall come in as an assuror, for so much as shall appear that he hath himself borne adventure of; and the assurors are to be contributaries to the charges of the pursuit, and they may jointly argee therein and appoint their servants, or other persons to follow the same; and this renunciation is also recorded in the said Office accordingly. But if afterwards it shall be found, that the assured hath made assurance or caused himself to be assured, for more than the goods laden for his account did cost; then the last assurors which have subscribed to the Policy, shall enjoy the benefit thereof, as hath been declared. For by the Custom of Assurances it is intended, that to avoid cavillations, every Assuror shall be bound ipso facto to the said Assurance, having a respect to the augmentation of traffic and commerce, according to the Maxim, It is better to suffer a mischief than an inconvenience; the mischief being attributed to one or some particular persons, and the inconvenience to the whole Commonwealth in general. Hereupon the party assured doth procure his testimonials, witnesses, or any other evidences concerning the said loss, declaring the manner and place, the cause, with all circumstances, either by examinations in the said Office of Assurances, or in the Court of Admiralty, with all such other proof as by letters and all other means he can attain unto: Proof of the Assurors. all which he hath ready, or bringeth into the Office, together with the charter-party of fraightment, if he have the same; the Policy of Assurance, the Bill of Lading, the Invoice of the goods, the Factor's Letter of lading, wherein the Bill was enclosed, or any other Letters made for the declaration and manifestation of all the matter in question: which are all examined by the Commissioners for Assurances, at several appointed days for hearing, procured by the assured; at which times all the assurors are warned to appear, and record is made also of their meetings and ☞ proceed. And herein is to be observed, that it may many times happen, that the assured hath caused some assurance to be made in some other place upon the said goods also: Therefore the Commissioners (if it be by the assurors required) may examine the assured thereupon by oath, and then deal therein as they find cause, according to the Custom of Assurances. To abbreviate the questions which the Civilians have made, concerning this argument of Assurances, writing De assicurationibus, I have thought good to let every Merchant understand, that observing the form of the policy of Assurances, with the observation before declared, all the said questions will be prevented, and to prove the same by Demonstrative Reasons upon every question alleged, as followeth. An abridgement of Questions of Assurances. 1 WHether an assurance made upon a Ship named, is to be understood of the ship or of the goods laden therein, or upon both? Answer, When the name of the ship is expressed according to the said policy of Assurance made upon the very Keel of the ship of such a burden, there is no man endued with reason, that will attribute this Assurance to extend to the goods laden in the same, much less to both, when the Ship is only named and no goods at all. 2 Whether an Assurance made upon one thousand Hides, laden in such a ship, from such a place, to such a place be good, without naming the several sorts of Hides laden therein? A. In all policies of Assurances the words run General upon the principal wares, and all other commodities or goods laden, or to be laden by such a man, for the account of him or any other; and so this (General) includeth all particular things, which when assurance is made upon them are named and specified, as hereafter is also declared. 3 Whether upon uncertain things to be laden, the assurance be good? A. When assurances are made upon goods laden, or to be laden, as aforesaid; the said assurance must needs be of validity, for the word Goods and Merchandises comprehendeth all uncertain things vendible: and if it were some particular thing, it is always expressed. 4 Whether an assurance made upon one Sack of Wool be good, when there is many Sacks of Woolles in the same Ship? A. The question is prevented by the Custom of Assurances, which is, that an assurance made upon any particular goods, must be declared by the particular mark of the goods belonging to such an owner, or any other; and if there be more of the said mark, the number therefore is added: and if the number were alike, the weight may distinguish the same; whereby the one Sack being thrown over board for safeguard of the ship and goods, may be cast into a contribution; or being taken by Pirates, the assurors are to pay for it: so this question is frivolous, as many other are, and breedeth but contention to imbibe Merchants brains with them. 5 The like is when the assurance is made upon commodities or goods without name, or not naming the number, weight, or measure, but expressing the mark of all goods laden or to be laden, as aforesaid. 6 Whether the assuror is to have his Premio or Salary, upon a conditional assurance, or not? A. There is no conditional assurance made, but with exception of some adventures not to be borne by the assuror; which are not comprised in the policy of assurance, and therefore the Premio is due to the assuror. 7 Whether an assurance made is to be understood of the first voyage which the ship doth make after the assurance is made, and the ship appointed for lading? A. This is to be understood always of the first voyage, unless there were a declaration of a second voyage in the policy of assurance, and therefore I have noted a caveat for assurors to be careful how they cause other men to assure for them in remote places, not to make them liable to two voyages for one assurance, nor to be subject to a second voyage when the first is performed, but to be vigilant in their actions. 8 Whether an assurance made for the tempest of the Seas, be also to be understood for Thiefs or Robbers upon the Seas? A. The general and ordinary policy of assurance, containing all adventures, showeth, that the assuror is to bear the adventure of both these; and if it were otherwise in particular, it must be declared: So that this distinction is vain. 9 The like may be said to the question, Whether an assurance made by stipulation, be a contract or not? or whether it be coventionall or conditional? wherein this distinction is of no moment. 10 Whether an assuror (having paid the Merchant for goods lost by him assured, may afterwards, if the goods were found again or recovered) restore the goods to the Merchant, and call for his money (which he paid) back again? A. It appeareth plainly by all policies of Assurance, That the Assuror doth condescend that the Merchant shall have full power and authority by himself or his Factors and Servants, to sue for therecoverie of the goods, and that the Assurors shall contribute to the charges pro rata of their sums by them assured respectively: but the Merchant is not therefore hindered to recover the money of the Assurors, neither can one particular Assuror have all the goods; for the Merchant relinquishing the goods to the Assuror, reserveth always his part therein which he hath not assured, which he detaineth in nature of an Assuror, so that the Assuror hath not convenient means to perform the contents of the question; nevertheless, if the Merchant will, he may buy the goods so recovered of the Assurors, as they can agree; but then is the question altered, and not the same. 11 Whether an Assuror is to answer any hurt or damage done to the goods by Mice, Rats, or any other vermin, especially moths? A. By the policy of Assurance that Assuror is to answer for all damages, detriment, or hurt which shall happen to the goods after his underwriting: but if he can prove the hurt or damage was before done in the warehouse or other place, he is not bound to answer the same. 12 Whether goods lost in the ship boat, being unladen out of the ship, or being to be laden into the ship, shall be answered by the Assurors, or what may be laid to the charge of the Assurors by contribution? A. This question consisteth of two points: the answer to the first is plain, according to the policies of Assurances, where it is specified, that the adventure shall begin upon the goods laden in any Boat, Vessel, or Crayer to be laid aboard of such a Ship, or being discharged out of the Ship, the adventure to continue till the goods be safely landed: but to the second, the answer is not so plain, because it dependeth upon the sea-law, and must be considered accordingly. For as we have noted in the chapter of Contributions, if by occasion of lightning, the goods which are put into the Boat or Lighter perish, the ship and remaining goods in the ship shall answer for the same: but on the contrary, if the ship and remaining goods perish after the Boat or Lighter is once safe, no contribution shall be on the goods in the Lighter; for the law is, That the goods shall only be liable to contributions, when ship and goods are safely arrived to their intended port of discharge: according to this rule is the Assuror to answer for contributions pro rata of the sum by him assured. 13 Whether assurance made for pirates, is to be understood also for thiefs which by night steal the goods from the ship? A. The answer is so evident, that both the one and the other is comprised in the Assurance, as there needeth no other explanation. 14 Whether an Assurance made at one time upon goods to be bought and intended to be laden, and afterwards found not to be bought at the same time, but at another time, doth bind the Assurors to pay the loss? A. This question is worthy the consideration, and doth merely consist in the observation of time, & not in the buying of the goods, although it be so propounded; for the time maketh great difference in the assurance, as I have noted before. Goods laden in the Summer are not in adventure comparable to the Winter when storms and tempests do arise, and therefore are not the Assurors to be made answerable to this assurance; for the custom herein is clear and concurring with the Law of Oleron, and therefore not comprised in the tenor of the policies of Assurances, which is the cause also that Assurors are to have a special regard to the Masters of ships whether they be vicious or diligent: for the love of women and wine maketh them to lose the opportunity of time; so that by contrary winds their voyage is retarded, and which was to be made in Summer falleth out to be in Winter, subject to eminent dangers and losses, whereunto the Assurors become liable, as is declared, whether it be by accident, misfortune, casualty, rare successes and negligences of Masters and Mariners unlooked for and happening in strange manner suddenly. 15 Whether an Assuror be liable to the adventure of goods shipped from one ship into another? A. Sometimes in policies of Assurances it happeneth that upon some especial consideration, this clause forbidding the transferring of goods is inserted, because in time of hostility or wars between princes, it might fall out to be unladen in such ships of those contending princes, whereby the adventure would be fare greater. But according to the usual Assurances which are made generally without any exception, the Assuror is liable thereunto: for it is understood, that the Master of a ship without some good and accidental cause, would not put the goods from one ship into another, but would deliver them (according to the charter-party) at the appointed place, which is the cause that (when assurance is made upon some particular goods laden in such a ship, under such a mark) the Policy maketh mention of the goods laden to be transported and delivered to such a place by the ship, or by any other ship or vessel until they be safely landed, so that in all these and the like the condition maketh the law. 16 Now there is a question, Whether an Assuror is answerable to the assurance of goods to bear the adventure if no goods were laden, or but part of the goods? A. If a man do bind or oblige a thing to be found in such a place, and it is not found there; every man knoweth that the said thing tied to a local place cannot be bound thereby, because it is a body named without substance, and not in Rerum natura, and there would be understood a privation without being, and where there is not materia & forma, first, there can be no privation: but if part of the goods were laden, than the Assurors are liable for so much as that part of goods did cost or amount unto: albeit that in this (as I have touched before) custom is preferred above law; Custom to be above law in this particular for the civil law (if there be many Assurors in a ship upon the goods laden therein) maketh all the Assurors liable pro rata, as they have assured according to the said part of goods laden, if a loss do happen: or if there be cause to restore the Premio or salary of assurance in part. But the custom of Assurances doth impose the loss upon those Assurors which did first underwrite, and the later underwriters of the Assurors do not bear any part of the loss, but must make restitution of the Premio, and reserve only one half upon the hundreth pounds, or 10 ss for their underwriting in the policy of Assurance, as is observed. The Civillians therefore have noted, That in Assurances the customs of the sea-lawes, and use amongst Merchants is chiefly to be regarded and observed. In like manner, if a ship bound for a certain port (being at sea) be driven back to the same from whence it departed, and by tempest be cast away, the Assurors are to answer the damage of the goods laden therein, for so much as they did assure, as they do in other casualties. Assurors therefore are rightly exempted by the Divines and Canonists to be no manner of ways usurors, taking a benefit by contract etc. The matter of loss being well examined and made plain, the Commissioners then with a mature deliberation do set down their determination and sentence, That the Assurors shall pay every one the money by him assured; and if thereupon any one do deny to make payment accordingly, than (upon certificate to the Lord Mayor of London, and some of the said Commissioners made of his refusal) they have by act of Parliament (as aforesaid) authority to commit the said Assuror to prison, there to remain until he do pay or satisfy the said sentence or final decree, which no man of any credit will incur. And thus is this laudable custom established in England: and beyond the seas they are compelled by the Magistrates to perform the like ordinances or sentences pronounced in the like cases of Assurances. (* ⁎ *) CHAP. XXIX. Of Shipwreck, and things found upon the Seas. THE Merchant or the assured, together with the assurors, have great cause of encouragement to look after the goods of a Shipwreck, for there is no forfeiture of the said goods; but with all humanity every man is bound to aid them thereunto; and whosoever steals any such goods, he shall pay fourfold to the owner thereof, if he be pursued within a year and a day, and as much to the Prince or Admiral: wherein the Sea-law is so strict, that the stealing of a nail or the value thereof, maketh the party guilty to the rest of the goods; so that by the ordinance of the Emperor Antonius, The thief or robber of such goods should be beaten, and banished for three years; or if he were of base condition, scourged to the Galleys. For he that will not help such distressed men, shall be counted as a murderer: and therefore may no man hinder Ships to tie their ropes, or lay their anchors on land. And therefore did Hadrian the Emperor ordain, That all men having possessions on the coasts, should attend carefully upon such chances, otherwise they to be answerable for all things missing by stealth or robbery. If no man in due time claim such a wreck, than it belongeth to the Prince or Admiral: and any action for Shipwreck must therefore be commenced within a year and a day. Wherein also is to be noted, That if the Ship only perish and the goods be saved, than the goods shall pay the tenth, or the fifth, as the difficulty of the saving thereof shall require. For Gold, Silver, Silk, and the like things of easy transportation, should pay less than goods of greater weight and burdensome for carriage, as being in greater danger, except the Master carry in his Ship to a place where he should not, and then is the Merchant free of the Master's loss. Now of things found upon the Seas, or within the flood-mark, these are of three sorts, either found on the stream floating, and then are called Floatson; or found on the Sea bottom, Floatson. Lagon. and drawn up from it, and then called Lagon; or found on land, but within the Sea-flood, or cast forth there by storm and the water, and then are called jetson. jetson. Concerning Floatson and jetson, whether things be cast up by Shipwreck, or else left or lost through casting in storms, the finders thereof (as some Lawyers are of opinion) should do therewith as with other goods found upon land, that is, to proclaim the same to be forthcoming to the true owner, because the loser remaineth still proprietary of them: and if no man claim the same, the finder to keep the same to himself. But by the Rhodian Law, the finder hath one fifth part for the saving. And in France by the Admiralty of Rochel, they allow Pour le Droict de sawage one third part, which myself have allowed of eighty pipes of Oil, and twenty two Butts of Sacks, which became Floatson out of a Ship of deep, called the Desire, which did perish near the Island of Saint Martin de Rea, not fare from Oleron, in the year 1589, the French King Henry the fourth late deceased being then but King of Navarre. So hath a Diver for drowned goods, Allow●ee to divers in the Seas. one third part upon eight Cubits deep, and upon fifteen Cubits he hath half, and upon one Cubit but a tenth; which of late years was accordingly allowed in some part of Ireland, for drawing up some Ordnance of the Ships, which of the Spanish Armada did perish upon the coast, Anno 1588. But by the Custom now used, every man of some quality will claim all as his own, if it cometh upon his land, contrary to the Law of Oleron, which gives it to the finder. If Ships or Boats are found on the Sea, or upon the coast, without any living creature therein, and no man claiming the same within a year and a day; then the half is allowed to the finder, and the other half to the Prince. But of late years all is left to the arbitrement of the Admirals, to consider the finder or taker with some portion for his travels, charges, and danger. And if the finder conceal such goods, whether Anchor, Timber, jewels, dead men with money or jewels about them, he not only loseth his part, but also shall be fined at the will and pleasure of the Admiral. If Whales, or Regal Fishes, Ships or Boats without living thing in them, be driven by force of wind and waves only to any coast or land, than all and wholly doth appertain to the Admiral. But in the year 1617., a great Whale being found on the coast in Suffolk, where Sir Robert Lloyd Knight was Admiral for the late Queen Anne, his Majesty's Consort, for her lands there; he took not the benefit hereof, as he might have done, but the said Queen had the same. In like manner, a Deo dando or Deodant appertaineth to the Admiral, that is to say, The thing (whether Ship or Boat) that caused the death of a man, or whereby a man did perish unawares. To conclude this point, let us remember that in causes of spoil, it is sufficient by the Laws of England, for the spoiled to prove his goods by his mark, and the Shipwreck may not only be proved by the persons living, but also by the persons who were present at the preparation of their voyage, even their own parents and children, if none of the Ship (broken) be alive. CHAP. XXX. Of Partners of Ships and Voyages. FOrasmuch as Partners and Owners of Ships cannot be constrained by the Law to remain in Partenership, although they had made a covenant never to sunder or separate themselves; therefore are there many considerations to be had and required in the same. And first it is generally observed and accustomed, That if Owners of a ship newly builded or bought between them, shall fall out and be at variance, the said ship shall be employed and make one voyage first, Law of Oleron. upon their common charges and adventure, before any of the partners be heard to sunder and discharge their part. And after that, if they cannot agree, he who desires to be free, is to offer to the rest his part, and to set the same upon a price, as he will either hold or sell; which if he will not do, and yet refuseth to set the ship forth with the rest of the Owners or Partners, then may they rig the said ship at their own charges, and also upon the adventure of the refuser, so fare as his part doth extend, without any account to be made unto him of any part of the profit at her return. But they are only bound to him to bring her home safe, or the value of his part to be answerable for, and that justly; because ships were made and invented in common for the use of all men, even of them that dwell in the Mountains, as on the Sea coasts, and ordained for sailing and not to lie idle and unoccupied. But if the persons, who have most part of the ship, refuse to abide in Partenership with him who hath a small part, that neither he can sell his part at a price, without great loss, nor is yet able for want of means to attain or buy their parts; then are they all bound to put the ship to an appraisement, and so to dispose of her by sale, or setting of her forth on a voyage, accordingly; by means whereof their discord may be ended and the ship not spoilt. And if for want of buyers in that place, the poor partner can neither avoid the oppression of the richer, nor yet the rich satisfy the poor man, which may also be wilful, then may the judge of the Admiralty, or the ordinary judge deal and decree the same, as he may do in omnibus alijs bonae fidei actionibus: And consider of all the circumstances of the persons, of the matter of their difference, and of their motives; that thereupon he may administer justice in giving every man his due right. In cases where Owners do agree, and voyages are undertaken, there the Master of the ship is placed by the Owners, A Master placed by the Owners. and they ought to make good the Master's fact and deed; so that the Master may lay his action upon any one of the Owners: but the rest of the Owners shall pro rata of their portions be contributary thereunto, except the handling of the Ship be so severally divided amongst them, or that the Master have not his Power and Commission of them all; or that the Master hath bound himself above his Commission, as if he have taken up money to mend the ship, when as he needs it not, or that he have no Commission at all: in which case the lender committeth an oversight, and hath no remedy but against the Master. But if there were cause of mending the ship, and the Master should spend the same another way; the Owner is to satisfy the Creditor notwithstanding. And above all things money lent for victuals to the ships company should be paid and preferred before all other debts. If a Merchant contracting with a Mariner, that is not a Master, be therein overseen, he must content himself, for he can have no action against the Owners, except for a fault done by a Mariner which hath been hired and put in by the Owners. Again, albeit that by the Sea-lawes, the Owners may not pursue any persons obliged to the Master; yet are they permitted to pursue upon the Master's contract, as if they had been principal contractors. Because herein they do represent and undertake the person of the Master, and these privileges are granted to the Owners, for the good of the Commonwealth, and augmentation of traffic. Nevertheless the Master is not bound to render an account of all to the Owners, as for passengers which are found unable to pay; and so are not Owners bound to answer for the Master's negligence. But it is very convenient if the Owners be in place, that the Master do not let the ship to freight, or undertake any voyage, without the privity, knowledge, and advice of the Owners, or of some of them, to the end many things may be advised by them, whereof the Master was ignorant. CAHP. XXXI. Of Moneys taken upon Bottommarie, by the Master of a ship, called Foenus Nauticum. THe name Bottommarie is derived by the Hollanders from the Keel or Bottom of a ship, upon the parallel whereof, the Rudder of a ship doth govern and direct the same: and the money so taken up by the master of the ship, is commonly done upon great necessity, when moneys must be had in foreign countries to perform a voyage; for the use paid for the same is very great, at 30, 40, and 50 pro cent. without consideration of time, but within so many days after the voyage ended. Difference between interest money and Bottommarie. This Money is called Pecunia traiectitia, because that upon the lender's danger and adventure it is carried beyond or over the seas: so that if the ship perish, or that all be spoilt, the lender doth lose the money. But on the contrary, money let at interest is delivered on the peril of the borrower; so that the profit of this is merely the price of the simple loan, called Vsura: Locatio, or hire but the profit of the other is a reward for the danger and adventure of the sea, which the lender taketh upon him during the loan, which is to be understood until a certain day after the voyage ended; therefore if the money miscarry, either before the voyage begin, or after the term appointed for the full loan, than the peril pertaineth to the borrower thereof, and not to the lender. I mean of perils proceeding by storm, violence, spoil, or such like occasions which cannot be eschewed by any diligence of the borrower. Therefore if the borrower employ that money upon commodities, and that the said commodities become forfeited for nonpaiment of Custom, the lender shall be clear of any damage thereby. It is also to be noted, That money lent at maritime interest without hazard, but upon security, should pay no profit, otherwise than the money lent at interest, because the security is given over and above for the lender's assurance. Again, suppose it were money not entered in the pursers' book, and yet lent for the need of the company within the ship during the voyage, if before the day appointed for the payment, shipwreck, or spoil happen, than should the loss come in contribution between them; because if that money had been lying by the lender still unlent, it had been in common danger with the rest: but if the time appointed were passed with the perils aforesaid, then shall the borrower pay that money so borrowed, free from all contribution. Further in case the borrower detains any such money lent as aforesaid, beyond the time appointed for the repaying, he shall at his return not only pay the profit agreed upon before the voyage, but also augment the same according to the longer time, and shall pay the profit of that first condition accordingly. Some Merchants there are, that will deliver money in nature of Vsura Maritima, joining the use money and danger of the seas, either upon the ships or goods all in one consideration, and so take 25 or 30 upon the hundreth, at the return of such a ship from such a voyage; wherein they have an eye to the person that taketh up the money, making account to be better assured by a vigilant eye upon a Merchant's traffic, whom they must trust (if they will make benefit of their moneys) rather than to deliver their money unto another of whose dealing they cannot give so good a judgement. Combination of interest money and assurance. As for example, They know that such a Merchant doth deal for Turkey, and that in known ships trafficking that way, the deliverer of money goeth unto him and maketh an offer to lend him 1000 ll for a voyage to be made (with Kerseys and Tin) to Tripoli, and that he will bear the adventure of that money during all the voyage, which he knoweth is commonly performed within the year: for (sayeth he) you know that I am an Assuror, and you do use to assure your goods, and to increase your trade you take up moneys at use of others in smaller sums; it may therefore be very commodious for us both to include the price of assurance, and the use money together, and so with the return you shall be provided to pay me again, if God do prosper the ship and make homewards speedily, if not, I can demand nothing of you, and must be contented to bear the loss with patience. Hereupon a contract is made, ten in the hundreth is accounted for the use money, Contract of interest and assurance jointly and ten in the hundreth for the adventure of the goods outwards, and another ten in the hundreth for the adventure of the return homewards: in conclusion, there is 30 pro Ceinto; So that upon the return of the said ship he is to have 1300 ll within such a time as they commonly agree, be it one or two months after. This is a good bargain for the lender, howsoever the borrower of the money may speed; for the lender hath not to do with the sale of the goods, nor with the return of them: but he will be sure that (at the return of the ship) he may have his money paid him, not only by the provenue of the Kerseys and Tin which was bought with the thousand pounds he lent, but also with the return of all other goods which the borrower did lad more in the said ship for Tripoli, as aforesaid, and in like manner for other places. CHAP. XXXII. Of Shipping and Navigation. Under the name Navis is all kind of shipping understood, and Navigium is a general word many times used for Navigation. So that it is not of any moment to describe the diversity of ships, as Carracks, Galleons, Galleasses, Galleys, Centaureis, ships of War, Flyboats, Busses, and all other kind of ships and vessels: But that we may understand the sea laws and customs observed therein, appertaining to the law Merchant, as also those things which properly may concern ships, as followeth. All ships being made for failing, are to be prepared accordingly, both for goodness and sit timber, and convenient building; as for the placing of the Rudder of the ship upon the right parallel of the keel of the ship, The Parallel of Equalities. for therein consisteth a main point for swift sailing, which is found to be a great defect in many ships partly new built and repaired: for new timber and old, mixed together, doth never endure long, especially if the ship be not repaired in time before she be much decayed, which often cometh to pass, when the owners of it cannot agree therein. The law therefore is commendable, That if the most part of the owners, or those that have the greatest interest and part therein, cause the same to be repaired, that he who provideth not his money for his part within four months after, shall lose his part to the other owners, if he refuse to be conformable with the rest, or with his partner in the said ship, who did disburse the same; and moreover he is to pay the consideration of the money also, for the time that the same was laid out. Some make a question, Whether a ship so amended & repaired shall be taken to be the same? But it is clear, that so long as the keel of the ship remaineth, it is still the same ship, and not to be called another ship; so is it always belonging unto the owners of the ship, although they had fabricated & amended the same with another man's timber: for the selling of a ship is not a sufficient course to alienate the same; but the quiet possession thereof must be delivered upon the sale made. And although the sale be made, and the possession of a ship delivered, if nevertheless it afterwards shall appear that some have committed piracy with the same, the party who lost his goods, may lay an action to the ship in place convenient. Hence the proverb ariseth, A ship which cannot drink of all waters. That such a ship cannot drink of all waters. Albeit this law is not general, no more than a ship driven by tempest into a Harbour or Port, is subject to pay custom there; albeit some demand the same, although no bulk be broken, which seemeth to be unreasonable. A contract therefore taketh his strength from the parties contracting, and the place where it is made, according to the customs thereof. It is therefore also dangerous to freight unknown ships, which may be subject to other men's actions, and that in many places, where wind and weather may command them to enter; for ships are properly reputed amongst moveables, Quia non sunt immobilia. Of shipwrights. Here the shipwrights or builders of ships are an especial sort of persons to be considered and respected, called by the Grecians Naupegi, who are subject to the jurisdiction of the Admiralty, and to render an account of their skill and knowledge in the building of ships to make the frame thereof comely and strong, tith and durable, or else pay the penalty to be imposed upon them for all costs and damages: therefore they are to provide good materials, and refuse to take bad stuff, as Aller, Beech trees, and such like spongy timber for salt water; whereunto Merchants must have a special regard, and look that no green timber be put in the work, but such good Oak as hath been cut down either at the wane of the Moon, and in the deep of Winter, or at such times as experience proveth wood to be most solid and durable: for being cut in other seasons and dried up, it becometh open to receive the water, and consequently the air, which is the cause of putrefaction in all things vegetable. Concerning iron, they are also to have a care it be not brittle, and that all be performed with great care. Shipping being the walls of the kingdom of England: and shipwrights are forbidden under pain of treason to communicate or make their art known unto enemies or barbarous people. Navigation dangerous. From shipping let us come to Navigation: of the necessariness whereof no man ever doubted, and whose perils are always eminent; insomuch that Anacarsis said, That travellers on the seas were no further from death, than so many inches as the timber of the ship was thick or broad, according to the saying of the Satire, Digitis à morte remotis quatuor aut septem, si sit latissima t●da: Whom Bias the Philosopher would neither reckon amongst the living, nor those that had life infused. And he was esteemed to commit a great error, that would bring any goods by sea, which he might transfer by land; whereof more hereafter. No man can be prohibited to sail on the main sea, albeit in some places (where the waters are as royalties unto them) it be prohibited, as the Venetians do in the Adriaticke lake, and other Princes and Commonweals in their jurisdictions and commands, which hath been observed time out of mind, and is taken for a most ancient prescription. If a ship bound for Venice, do enter into the River of Lixborne and there deliver some goods or merchandises, and afterwards entering into the straits of the Mediterranean Sea, be driven by contrary winds to some other place or Island in the said Seas, and then make after that his discharge at Venice: Sailing from Port to Port. all this time of the voyage is but one Navigation, and the Master of the ship hath committed no fault, and done his endeavour if he did departed from his first Port at the appointed time, by the charter-party limited. But for as much that we have already entreated of his duties to the Merchant: let us in the next Chapters remember Navigation, with the community of the Seas, and now make an abridgement of the Imperial Sea-lawes of the Haunce Towns. CHAP. XXXIII. An abridgement of the Imperial Sea-lawes of the Haunce Towns, made in the year 1614 Having already in the precedent Chapters, declared the Sea-lawes generally observed in all Countries, and that in compendious manner: I have thought good nevertheless to abridge in this place the Imperial Sea-lawes of the Haunce Towns, as they have been reviewed and exactly set down by the Magistrates of all these Haunce Towns, at an assembly in the famous City of Lubeck the 23 day of May 1614, under 15 Titles in several Articles, as in the margin is declared. No man shall set forth or cause any ships to be builded in any of our said Towns, unless he be a Citizen, Of the building of ships. or have obtained leave of the Magistrate. No Master of a ship, shall undertake to build a ship in their partners' absence, unless he do it at his own charges, and be able to set her forth alone, upon pain of half a Doller for every Last, to be paid, the one half to the Magistrate, and the other half to the poor. The Master of a ship is to confer with his partners, and to conclude of what burden the ship shall be built, and in what manner, to be done all in writing, and if it be found bigger, to pay two Dollars for every Last, etc. The Master hath no power to enlarge the building of a ship after she be at Sea, unless it be upon great necessity to advance the voyage, and for her safeguard, otherwise all the charges of it shall be his own. The Owners, Partners, or the Masters of ships, shall have no power (during the building of the ship) to give away any of the materials or victuals of the ship (but to bring the same to account) unless all of them do agree thereunto, otherwise they are not to be paid for. That with their general consent, some two or more persons be appointed to buy all which shall be requisite to the building of the ship and provision, and they to deliver an exact account of it by particulars, etc. Of the owners or partners of ships, and Masters. The Master of a ship, which hath been formerly for others at the Seas, shall not be employed by others, unless he produce a testimonial that he is discharged from the Owners in decent manner, upon pain of forty Dollars. A Master being entertained, is forthwith to be assured by the Owners of his wages, whereby he may be able to deal with his Mariners. And the said Owners are to do their endeavour to make good, on their parts, what shall be necessary for the voyage. All Owners are to cause good accounts to be kept, and to deliver upon the finishing of them, public writings and testimonials of the Master's good behaviour, and discharge of his undertaking, upon pain, etc. If the Owners of a ship cannot agree with the Master, as is fitting, they may by general consent make choice of another, and pay the said Master his wages, and discharge him: and if he have any part in the said ship, they are to pay him for the same according to just appraisement. Of the Master's office. Every Master of a ship is to have knowledge of the Compass, and to be able to govern and direct the same, and to hire his Mariners accordingly, or in default thereof to be punished for his presumption and undertaking. To provide Mariners of experience, and that the ship be not overladen, nor too light laden, but have his due ballast, and to have his Cabin and overlop clear. That he be on shipboard every night, and upon special occasions being absent, he may leave his Mate and other that may supply his place. That they do not too much meddle with merchandise or trade, whereby they shall be hindered in the due care of the charge of the ship. The Master is duly to pay the Mariner's wages, without any abatement, unless it be for monies lent them before, or cause to pay any thing to the Owners. The wages due unto Mariners for places near at hand, are to be paid but by two payments, but for remote and long voyages in three payments; one at the departure, another upon the unlading of the goods, and the third upon the ending of the voyage, by equal portions in third. If a Masters upon some reasonable occasion will discharge his Pilot either upon the unlading or relading, he is to pay him full wages. If Mariners be unruly and give occasion to hinder the voyage any way, by their misbehaviour to be proved by two other Mariners, the Master may set them on land, or cause them to be punished according to their demerit. If Mariners will not testify of their fellow's misbehaviours, the Master upon his oath shall be believed, and the Mariner to be punished accordingly. If a Master do conceal the offences of Mariners, he shall forfeit and pay fifty Dollars, half to the Magistrate, and half to the poor. If a Mariner should kill another, the Master is to keep him in Irons, until he bring him unto the first judicature to be judged, etc. If a Pirate or Thief shall come aboard, and the Mariners are willing to defend the same, and yet the Master will not fight: this Master shall never be put in trust any more, nor have credit as an honest man, nor be suffered to dwell in any of the Haunce Towns. If a Master be put in trust to bring over Pearls, Precious Stones, or Money, which are wares of no volume to pay fraight, but a consideration; the Master is to have the fourth part of it, and the other three parts are to be the Owners. If a Master, being part Owner, will sell his part, or cause his Owners to pay dear for it: the said part is to be valued by indifferent persons, and the Owners or some of them are to pay accordingly. If a Master without cause will sail in another Haven than he is freighted, and loss do happen, he shall answer the same of his own means. If a Master shall sell the ship, and the Merchant's goods, and run away, he shall not remain in any of the Haunce Towns, and shall be pursued to answer for the same to the uttermost by all means. If by contrary wind and weather being entered into another Harbour, the Merchant do sell his goods, the Master is to have his full freight, or to go the voyage. If a Master find himself in places, where neither himself nor his Pilot is acquaited, and may have Pilots, but will not use them, he is to pay one mark of Gold for his punishment. If a Master have his lading in Corn, which becometh hot, he is to cool the same in convenient manner, if wind and weather do not hinder him: and the Mariners are to have two shillings lups for every Last for doing of it. Of the hiring of Mariners. No Master shall henceforth take any Mariners to hire, without they have a passport of their last service, upon pain of two Dollars, which passports every Master is to give, and shall be printed with Blanks for the names. None shall hire another Mariner by enticements of words, or by giving greater wages, but take them of course, upon pain of ten Dollars, etc. And if the Mariner take his own leave, the Master may claim half the wages which another shall give him. The Mariners shall keep their promise of fidelity to the Master, and be of good behaviour, and quietly live together upon pain as followeth. If any one do put himself forth to be a Pilot, Boatswain, or any other officer, and shall be found insufficient by two credible honest men, or be proved by his company, they shall not only lose their wages, but also be punished according to the fact. If a Mariner be entertained, and at the Master's charges, and before the voyage, the Master take dislike of him, he may discharge him, giving one third of his wages, but it shall be of the Master's purse, and not for the Owners to bear any part thereof. When the Master hath entertained the Mariners at the ship expenses, the Mariners are to make their lodging on board, and to content themselves with it. When the ship is come to some Port, or arrived at the place, the said Mariners are not without the Master's leave to go on shore, upon pain to be imprisoned, and further to be punished as cause shall require. The Mariners shall have no guests on board without the Master's consent. No Mariner shall have his wife on board in the night, upon pain of a Doller if he do offend. No Mariner is to discharge any Ordnance, or shoot without the Master's commandment, upon pain to pay double for the powder and shot. All Mariners shall both at Sea and in the Harbour, keep true watch night and day, according to the Master's appointment, upon pain of half a Doller to be abated of his hire, and by default to be punished, etc. Whosoever be found to sleep upon the watch, shall forfeit eight shillings lups, and he that findeth him sleeping and conceals it, shall pay the like. No Boatswain shall lose a Cable, without the Masters or Pilots commandment. When a ship is detained by wind and weather in any strange place, no Mariner shall departed or go on shore without the Master's leave, upon pain to lose half wages, the half of it to the Master, and half to the poor. Neither shall the Mariners go on shore, when the ship is at Anchor, without the master's leave, upon pain of half a Doller. If any mariner go on land without leave, and become wounded, the master is not to look to see him healed. If a Boatswain being absent, be the cause of some great harm or loss, he shall answer for it: and if he have no means, he shall be then imprisoned one whole year with bread and water: and if by his default the ship perish, or some body be slain, he shall answer for it with his life, or be punished according to his offence. When the master with some of his mariners goeth on land, the mariners are to attend in the boat for him, or to follow his order; and if any remain all night on shore, he shall lose his portage, and be punished. When a master hath hired his company for a certain place, and he hath afterwards advice of his Owners or Partners, that more profit is to be made in another place: the mariners are to be content therewith, and to take content for their wages; wherein if they cannot well agree, than the most ancient are to conclude, or other indifferent persons: and if any mariner be not so contented, and thereupon quarrelleth, he shall be punished as a mutinous person. The like is to be done in any freight which might happen, where the master is agreed with, which being performed, then to be determined in like manner for all controversies, as aforesaid. When a master hath maintained (at his expenses) the mariners in the Winter season, they shall not seek to have their wages augmented. If a ship be detained by some Prince or Potentate, or sent on a voyage, the mariners are to serve nevertheless; and if any run away, they are severely to be punished: and having served, the difference also to be ended with indifferent proceeding, as aforesaid. If mariners will go away upon ending of half the voyage, the master may demand all their whole wages. If any mariner officer (having received half wages) run away, he is to be pursued, & burnt in the face with some letter for a mark. If any mariner do commit any outrage to the master, he is to be severely punished according to the offence. And if they combine or conspire against the master, whereby he may be driven into some other harbour, or receive great detriment to the ship and goods, all is to be punished both by wages, life, and goods accordingly. If the ship become assailed by Pirates or Frybuters, the mariners are to defend the same, and to assist the master: and if they be found partakers in the taking of the ship, they are to be beheaded for it. If a ship be in danger at sea by tempest or storms, the mariners are to do their uttermost endeavours to help the master to save the ship and goods; and if cast away, to help to save the furniture thereof, as also the goods and merchandises, and of them to have some recompense for the saving; and by default, to be punished by all means whatsoever. When a ship is to be prepared or set forth, it must be done with a free and good will, and that all things may be bought at the best hand; wherein one or more persons may be employed with the Master, taking care to bestow all things in some convenient place, with the consent of the Owners: that the flesh be well salted and preserved, and all other victuals provided to be shipped at the appointed time, all with good order and direction. But when a Master of a ship doth victual in some other country where he hath no Owners, he must always buy all things as good as he can, and thereof keep a true and just account, wherein (if he be found to have dealt fraudulently) he is to be punished for a thief. Therefore to prepare all things whereby a voyage may be sooner accomplished, the Magistrates are to take care as well as the Owners to further the same; so that the Merchant or the fraighter of the ship making the goods ready to be laden, may find the ship ready at the appointed time agreed upon, upon forfeiture of the whole freight. No Master of a ship shall for himself alone, or his Owners, deal or lad any merchandise and goods in the ship, without the knowledge of the fraighter of the ship, but do all things orderly. And whereas it may happen, that in the preparing of a ship, some of the Owners may not agree to the same; most voices shall overrule the same, as the manner is in all sea-lawes, and then money may be taken upon the ship for his part, by Bottommarie, called Faenus nauticum. Of Bottommarie. The Master of a ship hath no power to take up money by Bottommarie in places where his owner or owners dwell, unless it were for so much only as his part cometh unto in the said ship, otherwise his own goods, and not the ship is to answer the same. But when a Master is out of his country, and where he hath no Owners, nor any goods of theirs, nor of his own, and cannot find means to take up by exchange, or otherwise, and that for want of money the voyage might be overthrown; then may he take money upon Bottommarie, and all the Owners are liable thereunto, otherwise he shall bear the loss. Of Admiralty. When ships do enter into Admiralty one with another, whosoever breaketh the Admiralty is bound to answer the damage which shall happen thereby: If he have it not in money, he shall make satisfaction by all other means. If a ship at sea be in danger, so as goods must be thrown overboard, Of goods cast, or Aueridge. these cast goods are to be answered by ship and goods, as an Aueridge, wherein the Owners and goods on board pay all pro rata. If a Master cut his Masts or Sails by stormy weather, the Merchant is to bear part of the loss; but not if the Mast do break, or the Sails be blown overboard. The rating of the goods lost, and to be cast into an Aueridge, is to be reckoned upon the ship, as the same may be valued to be worth, and that for so much as he must take the same, if the Merchants will suffer it, and the like to be done in the appraisement of goods, and the ships freight. When Merchants goods are taken at the seas, some of one man, some of another man's; every one is to bear his own loss, unless it were otherwise agreed before the setting forth of the ship. If a ship break on the seas, or be cast away, Of shipwreck, and goods found at the seas. whereby it cannot make his voyage, than there is but half freight due for the goods saved. When a ship receiveth damage upon the sea, by the Master's negligence, and bringeth nevertheless the Merchant's goods home, the Master is to have his full freight: but for the goods which he bringeth not, there is no freight due; and if any be damnified, he is to make good the damage. If any man find any shipwreck goods upon the coast, or in the seas, driving near the ship, and fisheth up the same, he is to answer the same to the next Magistrate, or jurisdiction thereunto adjoining, be it town or country, and the finder shall have for his labour and pains the twentieth part. But if it be stolen goods upon the seas, than he is to have ¼ part. When there is shipwreck apparent to be on the seas, the Master is to see the persons to be landed first, then to save the goods, tackle, apparel and all the furniture; and of that which is saved, consideration for it is to be made by the arbitrement of honest men. If so much be saved of the ships furniture as the freight cometh unto, then are full wages to be paid to the Mariners. When two ships at sea cannot shun one another, and both sustain damage, upon proof made by oath not to be wilfully done, Of other damages at the seas. it is ended. If a ship under sail do run upon another ship at anchor, and sink the same, or commit other damage, the party offending shall pay for all, and the ship shall also be liable thereunto, according to indifferent judgement. If by storm a ship break lose and run upon another, and indamage the same, the loss to be repaired as aforesaid. If a ship receive damage by the anchor of another ship having his boy, the same is to pay the damage; and if both ships be in fault, than the same to be borne proportionably. When a ship is safely arrived to his place of discharge, the Mariners are to be diligent to look to their discharge, Of discharging of ships, and delivering of goods. upon pain of half wages. No Master shall sell any of the ships victuals, unless it were to prevent some loss, and so bring the money to account, or upon necessity of others to help them in distress; and the remaining victuals he is to deliver to the Owners, and the Mariners shall take no part thereof after discharge, and the Purser of the ship is to look to the safe keeping of it. The Mariners are not to cast the ballast into the water, but to cause the same to be carried to the appointed place. Of the Master's reckoning, and of the lading, etc. The Master is to deliver instantly (upon his discharge) a true account, etc. The portage of Mariners shall not be allowed for Spain nor France, etc. but when they are laden with salt, than they may have it homewards. Of wagesextraordinarie. The mariners deserving well, are to have certain extraordinary wages, and in all accidents and sickness to be provided for; all which is agreeable to the sea laws before declared. CHAP. XXXIIII. Of Navigation and Community of the Seas. Traffic and Commerce (without Navigation) would be of small moment: therefore even as God the Author and Creator of all things, hath made of the waters and earth on perfect globe, for their more mutual service to man's use; so hath he also distributed his several and distinct Blessings to diverse Climates, to the end that (by supplying the barrenness of some things in one country, with the superfluities and fruitfulness of other countries) there might be a communication and intercourse between all nations, by way of Traffic and Commutation of things interchangeably, whetby one Commonweal should live with another; so that Traffic between all people (having peace one with another) is free. And according to the common right of mankind, The law of Nations. ●ure Gentium, the Navigation through all the world, is no less free and open to every one, than the use of the air. God having so disposed of the four Eliments, two to swim above man's head; and two to lie under his feet, the Earth and the Water. Hence it proceedeth, that passage both upon land and sea through all Christian regions, is and hath been so indifferently permitted to all persons of all nations, even to Turks, jews, Barbarians, and Pagans (not being professed enemies) much less to be restrained therefore of Christians in all respects, both by land and upon the seas, understanding the great main Ocean seas, which cannot be hindered but by the right of wars. This excellent art of Navigation is now so much practised and known, that the voyages heretofore performed by sir Francis Drake knight, and after him by master Candish, sailing round about the globe of the earth in less than three years time, is become no matter of admiration; and may be done in far shorter time, as daily experience doth prove. Marvellous is that natural property of the Magnes, called the Loadstone, or Adamant stone, Of the variation of the Compass. whereby the needle of the Compass being touched, immediately turneth to some one certain point of the heavens, and after sundry motions hither and thither, findeth rest only in one place and point. And albeit this point in several Orisons be different, yet in any one Horizon it remaineth permanent; and therefore it plainly appeareth, that the same proceedeth of some constant permanent cause natural, and not of any uncertain cause accidental; but what this cause should be, is hitherto unknown. The most probable and best allowed, is the point Attractive, which should be of such virtue as to draw the needle touched, always towards the same point; affirming that there is a great rock of Magnes stone, distant from the Pole certain grades. I have of late years seen a Magnes stone (which the party said to have had from a rock in Sweathland) which weighed not much more than one pound, and such was the Attractive power of it, that thereby an Anchor of thirty pound weight was drawn up, as myself and diverse others have made trial of; howsoever, this Mathematical reason following, is worthy the consideration of a good judgement. As the Axis of the earth, notwithstanding all other motions, remaineth (as it were) immoveable; and yet in respect of the Spherical form of the earth in every several Horizon maketh a line Meridional, by reason of the Section made in the superficies of the Orisons, by Meridian's, having all that Axis as their common Diameter: So may it also come to pass of the line of the needle, and his variation, the needle being always permanent in one plain superficies, according to the several Section of the plain wherein it resteth, and the Horizon there may continually be made, in every plain new variations: For a fimile, as in a pair of balance of equal weight, there is a certain motion too and fro, before they find their true place of rest (the same being only in the level of the Horizon) which cometh to pass by the Attractive Centre of the earth; who drawing unto him either weight with like force, finding the substance like also, compelleth them to rest in the superficies, like distant from that Attractive Centre: so in the needle, being a body endued with two several properties, the one of Gravity, and the other of Levity, which being equally peized, forceth him to abide in the Horizon; the other being Magnetical and received by the touch, causeth him to rest always in that one Meridian to the Magnes appropriate, it thereby cometh to pass, that after sundry balancing this way and that way, it only settleth in the common Section of this peculiar Meridian and Horizon. So that even as in dials, the line of the style only accordeth and concurreth with the Meridian line, in such as are void of declination (but in all such plains as are declinatorie, the line of the Style varieth from the Meridian line, and the same Angle of variation also altereth as well in respect of inclination as declination) so it may be supposed this variation of the Compass to be nothing else but the Angle comprehended between the Meridian line, and the common Section of the Magnetical Meridian to the Horizon, in the Horizonceall plain; and this Angle to be always exactly equal to the Angle contained of the Meridian line, and line of the Style, the Longitude of the place proponed, accounted from the Magnetical Meridian, being equal to the declination of the dials plain superficies, making computation from South to East circularly, and the Latitude of the place equal to the compliment of the inclination of the same superficies horological, wherein every man at his pleasure may judge with understanding, if he have tasted but of the first principles of the Mathematics or Cosmography. And having made mention of the Attractive Centre, I call to memory a conference, which in the year 1606 (being in Yorkshire about the Allome Mines, and certain Lead Mines in Richmondshire) passed between the Archbishop of York Doctor Matthew, and myself, in presence of Ralph Lord Ewer, with whom I went to York to congratulate the said Archbishop newly come to that See, which was concerning the Centre of the earth, which he said was unknown unto him what to conjecture of it; whereupon we entered into a large discourse, insomuch that from the lowest Centre, we did climb and ascend to the highest Climate by imaginary conceits (for so is all the study of the Circle of the Zodiac, Experience of former ages, doth confirm this imaginary Circle of the Zodiac. and the appropriation of the twelve Signs therein:) and after many reasons of the earth's stability, against the pythagorians and Copernicus doctrine of mobility (that is to say, Whether the Heavens move, and the earth resteth immoveable, or the earth move, and the great Orb of Stars be permanent mentioned before) we did find all this to be imaginary, and in that consideration and imagination we did descend to the lower Centre again; and thereupon conclude, That whereas the Centre is taken to be as a point of a great Circle, and so all weighty things falling thereunto, it may as well be a great Circle whereupon all other Orbs run in circumference circularly: Seeing that the earth and waters together make the perfect Globe as aforesaid, and all weighty things may be inclining to that Circle. But this matter being not concerning Navigation, let us return again to our observations, That the main Ocean Seas are common to all Nations as the passages are on the Land, to be navigated for traffic and commerce, yet no one man can traffic with any Nation without their consent. Concerning the Art of Navigation, Mariners have one great imperfection, that is, the want of exact rules to know the Longitude, or Arkes Itinerall, East and West, without the which they can neither truly give the place or situation of any Coast, Harbour, Rode or town; nor in sailing discern how the place they sail unto beareth from them, or how fare it is distant: whereby they are enforced long before they come to any Coast, all night to strike sail, not otherways than if they were upon it, thereby losing the benefit of prosperous winds, in sch sort sometimes, that whereas keeping a true course, they might have been quietly at road, they are by contrary and adverse tempests carried fare off, and so not without great charge to the Owner, pain to the Company, and peril to their Ship are enforced to waste their time; which of late years by some new Chartes and Instruments is in some part amended, albeit the said Chartes are still described with strait Meridian lines running equidistant or parallel, which is erroneous: and they suppose that running upon any of their points of the Compass, they should pass in the circumference of a great Circle, and therefore in the plain Cards describe those winds with strait lines, which is another abuse. For the Ship steming the North and the South, only maketh her course in a great Circle East or West she describeth a parallel, and being stirred on any other mean point she delineateth in her course a curve or Helicall line, neither strait nor circular, but mixed of both: which supposition being well observed, between two different Angles of variation, A very rare observation respecting the Latitude. and conferred with some such third Angle of a curve line, every degrees sailing or thereabouts, will shorten their course of sailing, that (with like wind and weather) they shall perform that in twenty four hours, wherein they spend above three or four days, and many times the voyage is thereby lost and overthrown. As I made Sir Francis Drake Knight to take notice of, in the year 1587., and after that more sensibly to Sir Walter Raleigh Knight. CHAP. XXXV. Of the distinct Dominions of the Seas. PLato the Philosopher, perceiving that Equality would be the cause that every man should have enough, was of opinion, and willed all things in a Commonwealth to be common; whom Sir Thomas Moor in his Utopian Commonweal seemeth to imitate, to the end that an infinite number of Laws already made, and the making of so many new Laws as daily are made might be abolished: whereas all of them are not sufficient for every man to enjoy, defend and know from another man's, that which he calleth his own proper and private goods. But finding afterwards that this Equality could not be established, and that many other inconveniences should arise thereby, he did wisely revoke the same in his second Commonwealth. Renuntiation of goods in common. For the same was never used in any age, nor by the Word of God commanded, when from the beginning he willed man to subdue the earth and rule over the fish. Gen. 1.28. And again after the Flood, willing man to replenish the earth, and for the better performance thereof scattering Mankind at the building of the Tower of Babel, over all the face of the earth, dividing the Isles of the Nations into their several Lands, God being the Author of Nature, as also of the division: Insomuch that when Mankind was propagated to an infinite number of creatures, and things upon the earth not sufficient for their sustenance, then of necessity followed the use of Trading upon the Seas, both for Fishing and Negotiation; which could not be done if all things had been common, neither on Land, nor upon the Seas, which thereupon became divisible, in places of fishing, but not in the main great Seas, which is common to all Nations (jure gentium) as in the precedent Chapter is declared; not that the words intent any Law set down by common consent of all Nations, but only denoteth unto us the example or custom of other Nations in sailing and trafficking over the Seas, with commodities reared upon the Land and by the Seas joining thereunto, and not in the main Ocean Seas where no fishing can be used: whereby the properties of both Lands and Seas are distinguished by the said Law of Nations, agreeable in this particular with the Law of God: For the Moral Law prohibiting theft and the coveting of other men's goods, By Divine Law. doth declare the said property. And the Ceremonial Law, willing every man to make sacrifices of his own, doth confirm the same. The means which God hath appointed, to make this distinction of the Dominions upon the Seas, are as certain as the mensuration of the Land whereunto the Sea is adjoining, and in propriety to be esteemed accordingly, taking their names of the Countries and Kingdoms adjacent, or of their situation; as Mare Britannicum, Mare Germanicum, Mare Hibernicum, and for situation, Mare Mediterraneum, observed by Cosmographers, Historiographers, and Mathematicians: this is performed with the help of the Compass, counting of courses, soundings, colour of the gravel or sands, and other ways to design Finitum ab ' infinito: By the Civil Law. so fare as is expedient for the certain reach and bounds of Seas, properly apppertaining to any Prince or people; wherein the Doctors of the Civil Law have recorded excellent observations. By the Law of Nation and Customs. Baldus saith, Vidimus de iure gentium, in Mare esse Regna distincta, sicut in terra Auda. Ad legem 1. de ter. division. In §. nullius in tratt, de i●sula. Bartolas doth in his opinion allow for princes and people at the seaside Centum mitliaria, which is one hundreth leagues of sea from their coast, if they extend their protection so fare, called by them Districtus maris & territorium, which is most plain in those seas where the Isles of Garnesey and jarnesey are so sensible and visible to the realm of England, Visible Marks of Dominion. or where there are such rocks or eminent marks as the Washeses at the West seas thereof; to which purpose Paulus a renowned Civilian sayeth, That it is not needful for him who would possess himself of any land, to go about, and tread over the same; but it is sufficient to enter in upon any part thereof, with a mind to possess all the rest thereof, even to the due marches, to be made apparent by the instruments of Geometricians. And the like may be designed upon the seas, notwithstanding the solidity of the one, and the continual flowing too and fro of the other. This distinction of dominion having continued so many hundreth years, needeth not to be corroborated with other proof and arguments: yet let us note obiter, That if the same were not distinguished as aforesaid, Cases of civil Law, or Admiralty. one borne upon the seas should have no country or nation to appeal unto, and a man dying intestate upon the seas, should minister occasion of question to know who should administer his goods; and making of a Will, how the same should be proved and executed by law, without approbation of some Court or jurisdiction: whereas we find many Admirals of the seas, and their several jurisdictions upon the seas, as deputies to their Princes or States, who are always absolute Commanders in their precincts, according to the treaties and contracts made between Princes which are in the nature of laws, and inseparable of the said Princes right on the land, concerning the possession of their Kingdoms or Commonweals, as the fundamental cause of their dominion, wherein discontinuance (of any part of their right) cannot be pleaded against them. The Kings of England nevertheless have been provident and careful herein: for Historiographers have recorded, That King Edgar (one of the Saxon Kings long before the Conquest) made a survey yearly of the four great seas, Matthew of Westm. and styled himself lord thereof even until Norway, Ranulph Cestriensis. and his progress was most towards the North. It is also affirmed, Anno 973. That the said King Edgar caused an inscription to be made upon his Tomb for a monument, calling himself Dominus quatuor Marea: and as Papinian the jurisconsult sayeth, In finalibus questionibus vete ra monumenta sequenda sunt. Mare Britanicum. But this for the dominion of the Kings of England over their seas, Mare Hibernicum. is not needful. For afterwards William Duke of Normandy, after he had subdued the realm of England by conquest, Mare Germanicum. caused himself not only to be proclaimed King, Mare Deucalidon. but also that all the goods of the subjects were his, and so caused the land to be divided, and yet was contented to change the title of a Monarchy by conquest into a Monarchy Royal, and was also Lord of the said four seas, Io Bodinus de Resp. by the former assumpsit, which had then continued 200 years; and his progress by sea was most Westward. For when Princes or Kings do style themselves by proclamation, than the continuance thereof (without opposition of other princes) is holden and observed as inviolable and permanent. Now King Henry the second succeeding William the Conqueror, Graftons' Chronicle. within one hundreth years, did join Ireland to the crown of England, and did reduce Normandy and other places in France to the crown, taking (as it were) a new possession of the said seas: and Henry the first every year, or within three years at the furthest, crossed over into Normandy, having taken Robert Duke of Normandy prisoner. In the time of King Edward the third, Chro. Malmesbu●e. there was a disputation held with France, concerning the fishing of the seas about Britain: in which it was proved to belong to England, joh. Hayward. and thereupon France disclaimed therein, By ancient records and Treaties etc. as appeareth by the said King Edward the third his Proclamation yet extant. Which arguments and contracts are as a law effectual. And here I must remember the singular care which the right reverend father in God doctor Abbot (now Archbishop of Canturburie, A rare book remoining with the Archbishop of Canturburie. and Metropolitan of England) hath had, in procuring (at his great charges for the good of our posterity) an excellent great Volume or Manuscript which was heretofore taken at Calais in France when the Spaniards took the same, Anno 1596, and carried to Brussels in the Low-countries, whereof I have had the perusal, and made an Abstract of the Chapters of the same, viz. The Treaty of Peace between Edward the third, king of England, and john king of France, for themselves and their eldest sons, namely Edward the Black Prince of Wales, and Charles Duke of Normandy Regent; the French King his father being prisoner to the said King Edward: which Treaty was made the eight of May 1360, in Brittany near Chartres, and confirmed at Calais; whereupon sixteen Hostages were given to the King of England, by the French King, who was to come thither in person, and to pay three millions of crowns for his ransom, of two crowns to be reckoned for an English noble, called in King Henry the eight his time Angel noble, being some 750000 〈◊〉 sterling. The ransom o' King john of France. The ship whereof upon the one side, did signify the dominion of the seas; whereunto old Chaucer the Poet did allude in Henry the fifth his time. This money was to be paid, to weet, six hundreth thousand crowns at Calais, within 4 months after King john's arrival there, more four hundreth thousand crowns within the year, and so much yearly until the full payment made within the city of London, being the king's Chamber. After this follow the particular Letters for the delivery of several countries and towns, as Caours, Carsin, Monstreull, Calais, Rochel, Turaine, Poitiers, Poitou, Xantes, Xantogne, Dagonois, Perigot, and diverse others, besides many Letters concerning the French Kings liberty, and his Hostages, and of the homage to be made by the Earls and Barons to the King of England (who remaineth with the title of Sovereignty and Domayne) besides many other memorable things; so that all matters concerning the seas and land were established for those seas: and King E●ward took six pence a ton for fishing ships. King Henry the fifth who did conquer all France, and had the possession of Mare Britanicum, lost nothing of his right; no more did Henry the sixth, and King Henry the seventh, as may appear by their Proclamations, Treaties, Chro Holl●ngshed. and Contracts not only with the French, but with the Archdukes of Burgundy, as by Guicchardins Chronicle, Chr. Froiszart. Guicc●ar●in and the said Treatise. or Historical description of the Low-countries appeareth. And as Doctor Dee in his book of Navigation affirmeth, King Henry the seventh in consideration of the fishing trade, properly belonging unto England (in his seas and dominions) had resolved to settle a trade thereupon, which he preferred above all voyages; for in those days, there was no fishing trade established in the Low-countries. By original antiquity. And it is not yet one hundreth years complete, that one Violet, Stephens, and other discontented Fishmongers departed the realm of England, and went into Holland to the town of Enckhusen, where they procured the inhabitants to fish for them, in his Majesties of great Britain seas, streams, and dominions: which inhabitants (upon the decease of the said Englishmen Fishmongers) took the whole trade to themselves, dispersing the same into many other towns, whereby the same is admirably increased. Queen Marie being married with King Philip the second of Spain (under whom all the seventeen Low Provinces were united) granted a lease unto the said King for the fishing of his subjects in the North parts of Ireland, for one and twenty years, for a certain fine, and paying one thousand pound yearly into the Treasury of Ireland, and Edward Fitton knight then Treasurer. And the Company of the old Haunce in primo of the said Queen Marie had also liberty to sish within the said seas, upon certain conditions, as appeareth in the Chapel of the Rolls of the Chancery. And for England Northwards, licences were given at Scarborough Castle. To this distinction of dominion of the Seas, Invention of the Porteullis. I call to memory the proceed of that victorious King Henry the eight, who during the time that Calais was under the Crown of England (as it hath been full 211 years) used the invention of the sign of the Portcullis; signifying the power of locking up of the narrow Seas between Dover and Calais, which was thought convenient to be used upon the coin made for the East-Indies, at the beginning of that trade, being pieces of the value of eight royals of Spain, whereof there was coined in the Tower of London for a trial (in januarie 1600) some six thousand pounds, which could not be made currant there, because the Spanish pieces of eight royals, had been before that time counterfeited by other nations, which made the East-Indians to doubt of our coin, although without cause. This noble King Henry (having procured the Emperor Charles the fifth to meet with the French King) went over in person with a great power to besiege the town of Boulogne in France, and when he saw that the Emperor's Tent or Pavilion was made with the two pillars of Hercules, and the inscription Plus ultra: and likewise the French Kings Tent with the three Flower deluces, and the title of Primus Christianorum Rex, He caused an Archer to be made upon his Pavilion with Bow and Arrows, and his inscription was Cui adherio praeest, declaring thereby his present strength whereby he did qualify those wars, and peace was made between the Emperor and the said French King, it being true that the state of a Prince doth as much consist by reputation, as by strength. Our Sovereign Lord King james, hath also been mindful of his right of distinct dominion; for the great blessings which almighty God hath allotted to the Kingdoms of Great Britain, Ireland, and the Isles adjacent under his Majesty's Dominions, is so visible to all the world, as that thereby they are ravished with admiration. For albeit that the earthly blessings are produced in seasonable times: yet the blessings of the Seas are directed and pointed at by the finger of God at infallible seasons, causing those watery creatures to offer themselves for our sustenance, and for the general good of all creatures in places certain, within his Majesty's Seas, Streams and Dominions, and not into the main where fishing cannot be effected. Whereupon his Majesty before his coming into England, did let the fishing of Scotland to the Hollanders for fifteen years, it being agreed by more ancient Treaties between them, that the fishing then agreed upon should be eighty miles from the Coast, to the end the Scoles of Herrings should not be interrupted. His Majesty in the fourth year of his Reign of Great Britain, made a Grant to one Collyns of Coventrie for twenty one years for the fishing in some parts of Ireland: Grants made for fishing. and the like Grants have been made for the Isles of Garnesey and jarnesey, according to the Common Law of England, By the Common Law. which (in this point concerning his Majesty's right of dominion) is very copious, the handling whereof I leave to the learned and judicious of the said Law. In the seventh year of his Majesty's said reign, his Highness caused a Proclamation to be made, concerning his Dominion of fishing, which being compendious and substantial, I thought convenient here to be inserted Verbatim. JAMES, By the Grace of God, King of Great Britain, France, and Ireland, defender of the Faith, etc. To all and singular persons to whom it may appertain, greeting. Although We do sufficiently know, by Our experience in the Office of Regal dignity (in which by the favour of Almighty God, We have been placed and exercised these many years) as also by observation which We have made of other Christian Princes exemplary actions, how far the absoluteness of Our Sovereign Power extendeth itself. And that in regard thereof We need not to yield account to any person under God, for any action of Ours which is lawfully grounded upon that just Prerogative: Yet such hath ever been, and shall be Our care and desire to give satisfaction to Our neighbour Princes and friends, in any action which may have the least relation to their Subjects and Estates: as We have thought good (by way of friendly Praemonition) to declare unto them all, and to whomsoever it may appertain, as followeth. Whereas, We have been contented, since Our coming to the Crown, to tolerate an indifferent and promiscuous kind of liberty to all Our friends whatsoever to fish upon Our Streams, and upon any of Our Coasts of Great Britain, Ireland, and other adjacent Islands, so fare forth as the permission or use thereof might not redound to the impeachment of Our Prerogative Royal, nor to the hurt and damage of Our loving Subjects, whose preservation and flourishing estate We hold Ourselves principally bound to advance before all worldly respects: so finding that Our conivence therein, hath not only given occasion of over great encroachments upon Our Regalities, or rather questioning of Our right; but hath been a means of much daily wrongs to Our own people that exercise the trade of fishing, as (either by the multitude of strangers which do preoccupy those places, or by the injuries which they receive most commonly at their hands) Our Subjects are constrained to abandon their fishing, or at the least become so discouraged in the same, as they hold it better for them to betake themselves to some other course of living. Whereby not only diverse of Our Coasts Towns are much decayed, but the number of Mariners daily diminished; which is a matter of great consequence to Our estate, considering how much the strength thereof consisteth in the power of Shipping, and the use of Navigation. We have thought it now, both just and necessary (in respect that We are now by God's favour, lineally and lawfully possessed, as well of the Island of Great Britain, as of Ireland, and the rest of the Isles adjacent) to bethink Ourselves of good and lawful means to prevent those inconveniences and many others depending upon the same. In the consideration whereof, as We are desirous that the world may take notice, that We have no intention to deny Our neighbours and allies, those fruits and benefits of peace and friendship which may be justly expected at Our hands in honour and reason, or are afforded by other Princes mutually in the point of Commerce and Exchange of those things which may not prove prejudicial to them: So because some such convenient order may be taken in this matter, as may sufficiently provide for all these important considerations which do depend thereupon: We have resolved, first, to give notice to all the world, That Our express pleasure is, that from the beginning of the month of August next coming, no person of what Nation or quality soever, being not Our natural borne Subject, be permitted to fish upon any of Our Coasts and Seas of Great Britain, Ireland, and the rest of the Isles adjacent (where most usually heretofore any fishing hath been) until they have orderly demanded and obtained licences from Us, or such Our Commissioners as We have authorised in that behalf, viz. at London, for Our Realms of England and Ireland, and at Edinburgh for Our Realm of Scotland. Which licences Our intention is, shall be yearly demanded, for so many Vessels and Ships, and the Tonnage thereof, as shall intent to fish for that whole year, or any part thereof, upon any of Our Coasts and Seas, as aforesaid, upon pain of such chastisement, as shall be fit to be inflicted upon such wilful offenders. Given at our Palace of Westminster the sixth of May, in the seventh year of Our Reign of Great Britain, France and Ireland. Anno Dom. 1609. By this Proclamation, is his Majesty's Right and Dominion of the Seas, expressed in two words, by Lineal and Lawful possession of an hereditary Kingdom or Kingdoms, whereunto those Seas are joined and appertaining. It is not a Dominion obtained by an elective Kingdom, as Poland, Hungary, and others; neither is it had by any first discovery, wherein the Pope must be a mediator, as Alexander the sixth was between the King of Castille and Portugal, upon the discovery of the East and West-Indies, by drawing a line upon the Globe from the Island of the Canaries, to make the division between them: Neither is it like to the Whale fishing in Greeneland, where some upon their discovery took neither possession, much less had any occupation, which maketh the stronger right: Neither is it by gift or purchase, as some Italian Princes in the Mediterranean Seas, which do nevertheless enjoy both freedom and benefit thereby; but it is undoubted and indisputable as aforesaid. To conclude this Argument, The best mark of distinct dominions upon the Seas. the distinct dominion of a bordering Prince upon the Seas, is best seen by the Tribute or Tax which he taketh upon fishing ships, whereof we have many precedents. In Russia many leagues from the Main, Fishermen do pay great taxes to the Emperor of Russia, and in most places none but his subjects are permitted to fish, and the Hollanders do give him the tenth fish. The King of Denmark taketh great tribute, both at Wardhouse and the Sound. The Kings of Sweathen have done the like, which is now continued by the King of Denmark, for Norway. The Duke of Medina Sidonia taketh for Tunyne. King Edward the third of England, took six pence for every Tun in his time, which by enhancing of the money is now 18 pence. All the bordering Princes of Italy, do take tribute of the fish taken within the Mediterranean Seas, for their several Territories. In Lappia, Fishermen do pay monies in the Sound for passage to fetch it, over and above the tenth fish. The Earl of Orkney taketh the tenth fish, for the Isles of Orcades under his jurisdiction: as the Fishermen do to the Lords of the Manors in the West parts of England, for Pilchards, Hake and Conger. The States of the united Low Countries, do take an Imposition upon fish taken within the Seas and Streams of other Princes, as also near their Coast, and their subjects trafficking with the Russians, as Haunce Noblett, Haunce Van stracle, Robert Englegrave and others, do continually pay the tenth fish unto the Emperor of Russia. All which is requisite for Merchants to know, to prevent troubles or losses, for the pretence of ignorance doth not excuse, as our Merchants of Kingston upon Hull have found to their exceeding loss heretofore. CHAP. XXXVI. Of Customs, Subsidies, and Impositions paid upon Commodities. WHereas Customs, Subsidies, Impositions, Tolls, Customs upon commodities due by the Law of Nations. Accizes, Imposts and other duties, by the exemplary actions of Princes and Commonweals, are due by the Law of Nations; as a matter inherent to their Prerogatives, because they are absolute Commanders in their Harbours, Havens and Ports, where commodities are exported and imported: every Merchant is bound to take notice thereof and to observe the same, according to the ordinances and proceed used therein in all countries respectively; to avoid the danger of the loss and forfeiture of his commodities, and to make a true calculation how to buy and sell to profit, observing how much upon the hundreth pounds in value of his commodities (rated by the orders of diverse countries) the same amounteth unto, and to add the same with the charges upon commodities, to the price whereat the said commodities were bought, as well in his native country, as in other countries where he doth traffic and trade. In Russia, Denmark and Sweathen, Rigorous dealing for Customs. the Custom and Ordinances is; if a Merchant do not declare all his commodities, which he importeth or exporteth, but concealeth some part of them; all the commodities of that kind, are forfeited to the Prince, and he shall find but small favour to redeem them. In Spain, and other Dominions of the King of Spain, the commodities concealed, are only forfeited, unless they be prohibited and unlawful goods. In England, Scotland, and Ireland is the like, and only the goods concealed are forfeited, and may be had again upon reasonable composition; for the Statute Law giveth authority to the Officer who maketh the seizure, that upon licence sued forth to compound, he may do it safely for his part, which is the one moiety; and for the other moiety which is the Kings, Merchants are graciously dealt wichall, by the judges or Barons of the King's Exchequer, Abuse of favourable dealings. or others thereunto authorised: Insomuch that it hath happened that some Merchants relying upon this favourable dealing, have adventured to expose their commodities unto the forfeiture thereof, being commodities which pay much Custom and Imposition: as Cambrics, Lawns, Tobacco, Cutcheneale, Venice gold Thread, and other things, because they were (in a manner) assured to make composition under the sum which they were to pay for Custom and Imposition. In France and Germany is the like for concealed commodities, which are not declared in the Customhouse; and jewels, and precious Stones, and Pearls are freed of Custom. And so was it in England, until of late years, since the Customs were taken to farm, and yet they pay but three pro cent. of the value of their appraisement, Strict orders for Customs at London, etc. to be rated by the Officers of the Customhouse at London. But if any Merchant or jeweller bring over any jewels or precious Stones and Pearls, he is to declare them to the Officers or Waiters of the place where he landeth, otherwise they will be seized (by water or land) as forfeited to the King; wherein more strict dealing hath been used of late, since the King hath let to farm his moiety of the Seizures. So that first of all the Custom of concealed goods must be paid, before any composition be made, next the composition being made, then may the Informer be agreed withal. And no commodities can be delivered upon security to the owner, as formerly by the Law was accustomed to be done; but they must remain in some sufficient custody until the matter be tried by Law, or compounded by agreement. But prohibited commodities (as Allome and other things) by Letters Patents and Proclamation, the possession may be had, upon security to be given to answer the value thereof, according to the appraisement made of them. And these commodities (if the Master of the ship do not declare them, upon his entry made in the Customhouse, upon his oath) are also subject to the forfeiture, although they come consigned unto a Merchant or Factor unawares, by another Merchant that knew not that such commodities were prohibited to be imported. The like is it for a Merchant shipping out unlawful wares: but herein he may have intelligence by the Customer, before he do lay them upon the water to be shipped. Again, if a Merchant carry money by water down to Gravesend, with an intention to bestow the same in Bays at Sandwich, or in other commodities at Canturburie: he is first to declare the same in the Searchers Office, or else the money is lost, and three times the value, upon information. For no money of Gold or Silver, or any foreign Coin or Plate brought into the Kingdom, can be transported; only for Passengers expenses, some four or five pounds may be carried out. But for commodities brought in, which have paid Custom, the same may be shipped out again by Cocket, without paying any more Custom and Imposition; so it be done upon good Certificate, that it is the same commodity, and that the property thereof is not altered; and this must be done within six months after their importation. All Merchants ships being laden, Permitted to break bulk at Tilburie-hope. have always (time out of mind) been permitted to break bulk below, or at Tilburie-Hope, and to pay no Custom, but for the goods they brought up, or landed in England, and not for the goods which they did transport in the said ship, or in any other vessel or ship: which privilege and certainty of Merchant's Custom ought to be seriously observed, better than it hath been of late. And of this and other observations Merchants and Factors are to give notice to their friends and Masters, to the end they do not incur any danger, To enter goods upon sight. which (to avoid in some sort) is effected by entering the goods upon sight of the Customers view, by opening of them. In Barbary and other places, where the Customs are paid in kind or Species, if any part be concealed and not entered, that only will be forfeited; and yet the loss is greater, because they will make choice of the best: as for example, Suppose a Merchant doth enter diverse sorts of Linnen-cloth, and concealeth some pieces, the Officers will take both the tenth piece for the Custom, and all the concealed pieces of the best and finest sorts, to your exceeding great loss. In the Low-countries and Germany, as also in most places of Italy and Turkey, you shall only forfeit the goods concealed, and be permitted to compound for them as you can agree, wherein the circumstances in some places will be considered, and the manner how the error grew, or whether it were done with a set purpose. There are also in divers places allowances made (as in England) upon Wines in regard of lecage of ten or fifteen upon the hundreth, or else all the Butts and Pipes are to be filled up, Allowances made upon Customs and Impositions. and so to pay accordingly; wherein the time of the voyage, foul weather, and other accidents are to be considered, to make your composition thereafter. Upon Clothes to be shipped out, Allowance upon Clothes. there is allowance made of the tenth Cloth for a wrapper, which payeth no Custom: and so of all other woollen Commodities, which pay after the rate; as three Northerens Kerseys for a Cloth, four Devonshire Kerseys, two single Dozen, one double Dozen, six Cardinals, Pin-whites, Statutes, Stockbridges, straits, and Tavistockes, four Cornish Dozen, Pennystones unfriezed, Island Dozen, and Northerens Plains for one Cloth; two Bridgewaters', Cornish and Devonshire double Dozen, Florentines, Northern Dozen single, and pennystones for a Cloth, to be understood for a short Cloth coloured or white of twenty and four yards long, weighing 60 ll until 64 ll, whereof English Custom was a Noble, and the Merchant Stranger thirteen shillings and four pence, whereunto is added the ancient Custom heretofore paid by the Merchants of the Steele-yard or Haunce-townes being 14 pence, so together 14 ss 6 d a Cloth, besides the overlength of 3 d ¼ the yard; The pretermitted Custom of Cloth. which is of late comprised in the new Imposition of the pretermitted Custom for weighing of Clothes, at two pence the pound, so that a short Cloth paid in times past a noble, and now ten shillings, besides the overlength, according to the weight, after the said rate of two pence for the pound: all which the Merchant stranger payeth double. Also whereas of late years, since the Customs were let to farm, all Commodities, as Sugars, Spices, Raisins of the sun, and others are weighed, and thereupon the Tarra for the Cask or Chest is to be allowed, Allowance for Tarra or Cask. and so the Custom is paid. There aught good allowance to be made for the said Tarra, because many commodities being unladed, and having taken the moisture of the seas, increaseth the weight of their Cask; so that Merchants pay many times Custom for that which they have not, by the strict dealing of Officers contrary to equity and justice, if they do not warily look to their affairs, wherein the Officers may also be excused. Now to conclude touching Customs, we must consider what they may amount unto upon the hundreth: according to which, Merchants are to cast up their accounts for benefit and loss, as aforesaid. Custom. The Custom in England (called Parva Custuma) was three pence upon every pound, that the commodities are rated in the Custom Book, which is paid by Merchant's strangers, now altered paying 6 d. Subsidy. The Subsidy or Poundage is paid by all Merchants of what nation so ever, which is 12 d upon all commodities brought in. And for Cloth exported 6 ss 8 d for English Merchants, and Merchants strangers double. Imposition. The new Imposition established in the year 1608 is also 12 d upon all commodities imported, and upon some commodities exported is limited; so that Custom and Subsidy in England is 12 ½ upon the 100 for Merchant's strangers: beside but leridge or scavage, almost one pro cent. more for goods inward; and for English Merchants is ten upon the hundreth. Impost. The Impost of Wines is limited upon the Butt, Pipe, or Hogshead, as by the Book of rates, with the Composition money, and other duties. In Spain and Portugal they take after diverse rates for commodities, some ●/10 or ●/●● and twenty five upon the hundreth, esteemed to be one with another un quinto or ●/● part, or 20 pro cent. with the Alcavalla, taken for Brokeridge to sell them. In Barbary seven pro cent. Alcavalla. aboard. The Turk taketh ⅕ part, as the Egyptians. The Venetians take 3, 5, 7, and 10 upon the hundreth with great advisement, and upon the Manufactures of other nations 14, 15, and more. And the like is done in France to advance the handy crafts man. The Great Imposts demanded in the year 1604 by Philip the third King of Spain (of 30 upon the 100) of French, English, Great Imposts and Flanders commodities, was soon abolished, when the French king Henry the 4 did the like; for one extreme enforcing another is of small continuance. CHAP. XXXVII. Of Merchant's Wagers, Stipulations, or conventions. FOr as much as diverse Civilians have entreated of this arguments of Merchant's Wagers, and made some Treatises de Sponsionibus, whereunder matter of Assurances is comprised: it may not be thought impertinent to handle this subject briefly and dividedly from Merchants Assurances, already declared in his proper place. The said Civilians do distinguish these Wagers or Sponsiones to be threefold. 1 Where a Wager is laid with a pawn in the hands of a third person. 2 Where (by way of Stipulation) some thing is given upon a Wager. 3 Where a thing delivered or by a covenant made with another person, the same is promised to be restored, and double, triple, and ten times the value thereof unto the party with whom the Wager is made, if the matter in question or doubt do not take effect; whereof many examples may be given and declared, namely, The Great Wager between Cleopatra Queen of Egypt, Examples of Wagers. and Marc Anthony, for the great expenses of a supper, by dissolving the Paragon Pearl, and drinking the same, as Pliny reporteth, when Lucius Plancus was made judge of that Wager, and pronounced that Anthony had lost. That of Cecinna, whereof Cicero maketh mention for the recovery of his grounds taken from him in hostile manner by Eubusius, and restored again. That such a Cardinal shall be elected to be Pope, That such a King is dead, and such a town is taken: in all which, the Wager is made by Pawn, Stipulation, or Convention, as aforesaid; and hereof are innumerable examples. Hereupon they conclude, That all Wagers laid must be for honest causes, and as it were striving for virtuous actions; and that these by the law are to be maintained in the performance of the Wager, wherein custom is the best interpreter, Custom the best interpreter of Law. even in the point of law, which is considerable in all cases by the long observation of them. A Wager being laid, that the Pope of Rome, or the Emperor, or any other great personage shall die within the year, Lawful Wagers and unlawful. is good in law: but to lay Wagers, as desirous or wishing some unexpected evil or adverse fortune unto an honest man, or although it were to an enemy, is neither civil nor natural in the understanding of well disposed men. A Wager laid upon the death of a private person, is disallowed; but not for the contracting of any supposed or expected marriage, which is lawful. All Wagers laid in lawful games are allowable; but in prohibited games cannot be recovered by the Civil law. So Wagers made by lookers on upon other men's games are disallowed, which is the cause that Stipulations are made, putting the pawn or money down, which is called, to stake down: and if it be upon an unlawful game, than the lookers on are subject to punishment, as well as the gamesters. A Wager laid who shall eat or drink most, is unlawful. If a Gamester or a Merchant playing, receive twenty and promise to give fifty for it the next day playing, the Convention is good. A Merchant laying a Wager to give ten for one if such a ship arrive within a limited time, within such a Port or Haven, is good in law. A Wager is laid upon the arrival of a ship in the port of Lixborne, and a certain sum of money promised thereupon: it falleth out, that the said ship is a Galeon; so denial is made to pay the money. The Law did determine the money should be paid, because the word Ship is a general name, although it be called by diverse names, As a Notary is called a Tabellion, Scrivener, or a public servant. A Wager upon a son or a daughter to be borne, is good in law; and if it be a Hermaphrodite of both sexes, than judgement is given according as the natural inclination shall be found to be more masculine or feminine. Ambiguity, or Equivocation in Wagers. And in all Wagers wherein ambiguity or equivocation doth happen, there must be a natural moderation in the construction of them; for an evil custom loseth her name, and becometh usurpation, as is before declared. If any man by the inducement or fraud of a third person lay a Wager that such a woman shall be delivered of a son, when she was already delivered, the Wager is not to be allowed, and if the Midwives are partakers herein, they are to be punished, and incur Crimen Stellionatus. If one lay a Wager to run with another, and afterwards doth refuse to run, he may be compelled thereunto, or the stake is lost; for he committeth no deceit, which preventeth a fraud. The captation or advantage taken upon words ought therefore to be excluded, and wagers are to be made in plain terms, and to be construed accordingly; Fallere fallentem, non est fraus. Wagers between Merchants are many times more done for sport and recreation than for gain: for over great wagers are against good manners, and may concern a Merchant much in reputation and credit, more than the playing for great sums of money, which many times Merchants do use, with the observation of a convenient time, and as the Proverb is, With good fortune, otherwise the end of it is dangerous; for as nature produced all things in due time, so is moderation required in all actions. CHAP. XXXVIII. Of Merchants Marks set upon Commodities. THe marking of Merchant's commodities, either packed up in Bundles, Trusses, Cases, Coffers or Packs, is of great importance; for not only by the Custom of Merchants, but also by the Civil Law, the property of the goods and merchandises is adjudged to him, by whose mark they are marked or sealed. It is dangerous therefore to use another man's mark, as many times Merchants do in time of war, when they lend their names and marks for the preservation of their goods, between two or more contending Princes, both by Sea and Land. Every Merchant is to set down his mark upon his Books of account, wherewith his commodities are marked. Merchant's marks to be set upon their books of accounts. And in like manner, If a Company or Society of Merchants do agree upon a mark, the same is to be set upon the Books of that Society: and if that Company do dissolve, the said mark may remain with the most ancient of that partnership, by the Custom of Merchants; whereof the Civil Law and the Law of Admiralty taketh notice in their judicature, and especially the Merchant's Courts of Consulate. And if the mark of one of the partenership be used for all, the same upon dissolution of that partenership is to return to the said party; and no man is to use another Merchant's mark, without especial leave had and obtained of the party whose mark it is. For even as Merchants do sail between the two dangerous rocks of Scylla and Charybdis in their course of traffic, when Princes are at variance: So is the danger to use another Merchant's mark without leave; because the party owner of the said mark is to defend the said goods, if they be taken, or to countenance the pursuers of the suit in Law for them, Danger to use another man's mark, etc. as fare as they in reason may require, otherwise the said goods may be lost as soon as taken. For as Ships are known by their Flags, and so taken to be at the Seas; so are Merchants goods marked with another man's mark, to be that man's goods, although it were not, and will be so adjudged in the Courts of any Admiral of the Seas; experience hath proved the same by two notable examples, worthy the observation. In the year 1586 or thereabouts, Robert Lord Dudley Earl of Leicester was an Adventurer for Barbary, where he sent some commodities by way of commerce, unto a certain Factor (that did deal for diverse other Merchants) there to be sold for his account, and to make return unto him of the provenue thereof in Sugar and other commodities. The Factor having sold some of the said goods (considering the number of men of war, which were then at the Seas, and the greatness of the said Earl) thought good, that all the Chests of Sugar and other commodities which he sent home to all his Masters in a certain ship, The Bear and Ragged staff. should be marked with the Earl of Leicester's mark, albeit the least part did appertain unto him; the rather for that the most part of his goods were yet unsold in Barbary. The ship arriving within the River of Thames, no sooner were the Letters delivered, but the Earl laid claim to all the said goods, pretending the same to be his because of his mark: hereupon the Civilians were of his side for the point of Law, and the Merchants were compelled to make their best compositions with him, as they could agree; and the Earl lost nothing thereby howsoever they sped. In the year 1597 one john de Bassadonna, the son of one of the Magnificoes of Venice, then resident in London, had a certain ship which was freighted for Lixborne, and so to go for Venice, according as the Master thereof was bound by a charter-party of fraightment, and in both places to take in all such commodities and merchandises as the Merchant should lad or cause the said ship to be laden withal, and to be discharged at Venice with the usual conditions of Sea-lawes. The Venetian Flag. This ship bearing the Venetian Flag of the Lion of S. Mark, was well received and welcome at Lixborn, and every man was willing to lad therein his goods for Venice: nevertheless some portugals considering the dangerous times of war, did borrow the name of Italians and their marks also, and caused their goods to be laden as appertaining to the said Italians, and made the Bills of lading and their Letters accordingly; other Portugals were not so provident, but did lad their goods in their own names: whereupon the Master of the ship (being sure of the one, and suspicious of the other) resolved to come (with all the said goods) first for England, to take advice whether this were a lawful prize or not, and being arrived at Plymouth, sent up to know the Lords of the Council their pleasure. So the matter came in question with the said Bassadonna, and was referred to the judge of the Admiralty, and diverse Civilians, where the matter of the Flag was much respected in regard of the Seignory of Venice, as matter of State; and the principal goods laden and marked in the name of Italians, were adjudged clear by the Law. But the other goods laden and marked with their own marks, were taken for good prize. So that it behooveth all Merchants to be careful what mark they use, etc. CHAP. XXXIX. Of the Buying and Selling of Commodities by Brokers, and by the Candle. IT is an old Proverb, and very true, that between What will you buy? and what will you sell? there is twenty in the hundreth differing in the price: which is the cause that all Nations do more affect to sell their commodities with reputation by means of Brokers, than we do; for that which seemeth to be gotten thereby, is more than double lost another way. Besides, that by that course many differences are prevented, which might arise between man and man, in their Bargains or Verbal contracts: for the testimony of a sworn Broker and his book together, is sufficient to end the same. And moreover it is many times a cause that Factors and Servants deal more faithfully for their Masters in buying or selling of all commodities, or in monies by exchange, knowing their evidence is extant against them. Therefore no Broker should be admitted unless he were sworn, and upon Affidavit or Certificate made by some principal Merchants, of his sufficiency and behaviour, and to put sureties for his true and good demeanour amongst Merchants, according to the Custom of London. For albeit that the common saying is, That a crafty Merchant needeth no Broker: yet it may much concern the Commonwealth, when too much hunting after foreign commodities may increase the price of them, and offering our home commodities to sale, Bills of Entries in the Customhouse. may be an occasion of underselling them to the general loss comparatively considered, wherein (I think) the Bills of Entries made so generally common, by the copies delivered to shopkeepers and others, are to be regarded. For no sooner are the goods entered in the Custome-bookes, but the copy of it is delivered abroad for every man to run upon them. The Venetians therefore have an Office, called Messacaria, consisting only of Brokers, which deal between man and man advisedly; and in Spain they are of such estimation, that they ride on horseback upon their foot-cloths, and having the Inuoyces of Merchants goods, they will deal for great matters at a time, against the lading of the Fleet for Nova Espagna and the Islands of the West-Indies, to be paid partly ready money, and partly at the return of the said Fleet; and then afterwards let you understand their Merchant: and many times they are of that means and credit, that for a small matter they will be bound to make the debts good, if the Merchant should fail, whereupon (as the Custom is to have one upon the hundreth) they will condition but double Brocadge, or less. Our Brokers of London take but two pence upon the pound (which is less than one ꝑ cent.) for the sale of commodities, and to hinder one another they will take less; which amongst Merchants beyond the Seas, is taken to be a disorder, for they are inclined to make the Broker's good gainers. The like is done in the Fairs of Frankford, where many Brokers do resort twice in the year, and they keep account of all the bargains that they make between the foreign Merchants, that come thither to make their payments most by rescounter and assignation, after the manner of Bankers: For the commodities sold in one Mart, are commonly payable the next Mart, being between five and six months time one after another; wherein these Brokers are very necessary members and instruments also to transfer Merchants Bills obligatory for other commodities, or to make payments thereby. The duties of the Alcavalla in Spain, are taken upon that consideration. Selling by the Candle. The selling of commodities by the Candle, is an ancient Custom beyond the Seas, only for such goods, rents upon houses or lands, or the houses also which require a sudden sale, after they have been one year and one day denounced by publication that they are to be sold; to the end that if any man will lay any claim thereunto, they may come in within that time. And these sales are made upon Fridays in accustomed places by public authority, for the better warrant of the Buyer, the manner of it is thus: There is a waxed Candle or a piece of it, set up lighted in some place easy to be seen, and the standers by are required to make an offer for such goods, or such a house; which being made, another will offer more, as they do in outcries, having still a regard to the burning Candle: declaration is made how the payment must be, so that he who maketh the last offer (upon the going out of the Candle) hath the bargain. If it do fall o●t, that there is confusion of voices of the offers made, whereby it cannot be discerned who made the last offer, and the standers by do differ in their judgement of it, than the Candle is set up again by those that are in authority, and in like manner it is determined accordingly. The Merchants of the East-India company do imitate the same, and after public notice given in writing upon the Royal Exchange in London, That such a day, such and such commodities will be sold at such a place, Merchants and others (knowing the great parcels of Pepper, Indigo, and other commodities of Silks, Calicoes, and such like) will join together to buy the same in several companies, and so buy the same by the Candle, as aforesaid, although it were a parcel of one hundreth thousand pounds. The time for the payments is four times six months, which is fifteen months in one payment, according to which (if you will pay all or part of it in ready money by way of Anticipation) you shall have use allowed you accordingly, after the rate of ten upon the hundreth. But their good orders require a more larger declaration. CHAP. XL. Of buying of commodities by Condition, termed Capiticus, and of selling things upon Casualties. THe buying of commodities upon Condition is termed by the Civilians Capiticus, a capiendo, either to refuse or take upon a penalty; or sometimes upon a casual Condition. Which bargains are much used in the Low-countries, as also in France, especially at Rouen and Calais, where myself have made money of Corn and Salt: and this bargaining is most proper for such and the like commodities, the price whereof doth quickly rise or fall, and are also commodious when a man's money is not so ready, to buy much, and to make a great employment with little money, which happeneth upon some sudden advice many times unexpected, whereupon men are very hot either to buy or sell: which is much used in Flanders in buying of Herrings before they be catched, by (stelle gelt) as they call it, that is by a sum of money agreed upon to be paid, if the party do repent himself of the bargain, wherein he taketh a time of one month or two to be advised according to the occasions and probabilities of the success. To disburse or offer fifty pounds upon fifty Last of Herrings with six week's respite upon the condition after twenty pound were equal nineteen and twenty one, and without respite of time presently to say to be delivered at three months, the fifty Last at twenty pound amounteth to 1000 ll, you advance the interest, warehouse-hire, charges, lackage, besides the commodity that you have bought with the money a bargain of fifty Last, when it would pay but 2 ½ Last, upon condition to take or leave. One hundreth pounds delivered out to pay the first year one pound, the second year two pounds, increasing every year one pound, amounteth in fifteen years to 128 pounds, in twenty years 210 ll, to the 20 add one, multiply with ½ of 1 to 20 is 10, and so of all other augmenting, be it of 1, 2, 6, 8, etc. The Conditions are diverse: The certainty of the money which you do adventure to loss, being well considered of, may turn you to gain, especially in places bordering upon the seas or rivers, to serve the Inland people, as Calais, Dunkirk, for Flanders, Henault, Arthois, and other provinces. The like might be practised in many coast towns of England. But strangers are more addicted to make casual bargains for buying of commodities. For selling of commodities upon casualties, therein are we more frequent, especially of things not vendible at all times, to sell them payable upon the return of such a voyage from Venice, Turkey, or other places, or upon the decease of such a man or woman, or at a marriage day, or the first, second, or third child, either male or female. In all which sellings, money and wares may be joined together. But in delivering money with wares at interest, the contract is usurious by the law. (* ⁎ *) CHAP. XLI. Of dividing of Commodities by Lots. ALl extremes being vicious, hath given me cause to write this exorbitant chapter, concerning the division by Lots, because there are men in this age so precise (by some called Puritans) that they can be well contented to buy a commodity in company with their neighbours, when their own means and credit cannot compass the same; but afterwards to divide those goods (by the Lot) between them, they are very scrupulous, and hold it a profane action, and they are (as they say) bound unto it of necessity, or else to take that which their partners do give unto them, and so let them cast the Lot amongst them, and what remaineth upon equal division, they will rather accept of, than that any Lot should be cast for them: yet they will more favour the Lot than the casting of the dice, or the measuring by straws. To these weak stomaches thus troubled with a Nausea, I would not minister any Cordials, Electuaries, or Potions to rid them of that distemperate humour; but a plain vomit is fittest, the Moon being in Aries or Capricorn, which must be thus preparéd. As in God's Church there never wanted true religion revealed from God himself, so amongst heathen, and all nations, there never wanted means to acknowledge a sovereign power; which caused them to device a certain shadow of religion, by worshipping their imaginary gods with a kind of divine service: the contemplation and use whereof, they did esteem to be the highest degree of felicity, or summum bonum, in so much that (even in their blindness) they did attribute the success of all things to proceed from above, using (for to attain to the knowledge of the divine pleasure) diverse means of Divinations, Imprecations, Oracles, and casting of Lots, because they wanted the illumination of the most glorious and transparent Sun of the word of God, whereby we are taught to obey the known will of God, and to reverence (with admiration) his secret will not declared unto us. Divinations and imprecations being not accompanied with visible and sensible apparitions, caused all Oracles to be in greater veneration: as that of Dodona, where jupiter answered, striking the Caldrons with a silver wand: That of jupiter Hammon in the confines of Egypt: That of Delphos, where an old woman answered in Greek verse: That of Latona, and that of Motenzuma in America, and others. All which ceased, when and where the Sun beams of the word of God did disperse the misty clouds of darkness, and then all was abrogated, and only the casting and drawing of Lots did remain as a custom of great antiquity amongst all nations, recorded not only by profane Historiographers, but also by divine Prophets and Evangelists. To which purpose we may observe two especial examples in the holy Scripture. jonas 1.7. The first is of jonas the Prophet, who flying from the presence of God in a Ship sailing for Tarsis, was exposed to a very great tempest at the seas, endangering the ship and mariners to be cast away at every moment; when it pleased God to manifest by the Lot drawn, or cast by the Master and Mariners, That jonas was the cause of the said tempest. Luke 23.24. john 19 24. Psal. 22.19. The second is of the Lot cast by the Soldiers, upon the garment or coat of our Saviour Christ, according to the Prophecy of David: allotting the same to some particular person, according to his good will and pleasure. But least these men should object, That the aforesaid examples are actions of the Heathens, and but mentioned in the holy Scripture; we pray them to remember, That the children of Israel had no other means propounded unto them, to obtain victory against their enemies, by removing the offence of the interdict or forbidden goods, joshua 7.14. but the use of casting the Lot, which fell upon Achan, who had hid some of the forbidden goods, which were to be burned according to the commandment of God, who was pleased that josua should find out the man by Lot, and not by Revelation. Acts 1.26. The Apostles having appointed Barsabas and Mathias, and prayed the Lord to show them, Whether of the two should succeed in the Ministry of the Apostleship, from which judas by transgression fell, gave forth their Lots (as the Scripture saith) and the Lot fell upon Mathias. joshua 14.2. What shall we say of the Division and Partition of Lands and Goods, when the land of Canaan by Lot was divided amongst the Israelites? And the like use remaineth until this day amongst diverse nations. The saying of the Wiseman being true, That the Lot is cast; Proverb. 16.33. & 1.14. & 18.18. but the success thereof is according to the providence of God: which caused him to speak so often of Lots in his Proverbes. Plutarch. The Grecians did make election of their officers by the drawing of Lots, which they called Ostracism; according to which the Venetians in their rare government of Aristocracy, do at this day use the like by their Ballotting; and so do the Russians in their government of Monarchy: So to conclude, all Nations do continue the use of Drawing or Casting of Lots in all occasions. Wherefore, I hope, these precise men will be hereafter more resolute to accept of their part (of Indigo in Barrels, Sugar in Chests, and Pepper in Bags, marked and numbered according to the goodness) by the Lot drawn or cast, and expect Gods blessings, according to the saying of the Wiseman, as aforesaid. Forasmuch as in Italy and Germany, diverse commodities and manufactures are dispersed, distributed, and in a manner vented, by the means of Lottaries which are continually extant, in public markets and other places; I cannot omit to speak hereof, as a matter appertaining to Merchants. There are two manner of Lotaries, namely, Standing Lotaries, and Running Lotaries; the first limited for a continuance of time to be drawn at the end thereof, without intermission by day and night; the latter to be drawn daily and at all convenient hours, when the parties will put in their money, and have the Lot drawn instantly. To which end in many places of Germany, there are public Shops and Stales, where diverse sorts of manufactures are exposed to be sold, and to every Lot there is a Prize appointed to answer the said Lot; whereby a man hath always some thing for his money, and many times a Prize of good value. Being therein like unto the Tree of Fortune, The Tree of Fortune. which is painted with blind Fortune sitting in the middle part of the Tree, and all manner of men, women, and children, standing or lying over the said Tree, do receive somewhat falling from it; to the one a purse full of money, to the other a halter; to the one a golden chain, and to the other a cutting knife: and to be brief, to some good, and to some other evil things, as is seen in all worldly affairs. Standing Lotaries, are stately and magnificent, consisting of Silver, Plate, Chains of Gold, jewels, Cabinets, Hang, Pictures, and other precious and curious things, fit for honourable persons, and others of quality. Albeit all men are admitted to adventure therein, which is the cause the Lots are commonly made of twelve pence or two shillings, the number whereof maketh a complete Lotarie, fit to be drawn when the same is full, which must be done by gathering in the money in continuance of a certain time limited, as aforesaid. The Running Lotaries are of Plate, Chains of Gold, and other things, whereof the price is (in a manner) certain, as also of moneys: and for that they are instantly drawn, and men willing to know their present fortune (as they term it,) every one is inclined, that the money which they draw, they will venture again in hope of a better, whereby their Lotaries are sooner filled. Both these sorts of Lotaries have a Table wherein the Prizes are declared, which are valued by public authority to prevent deceit and fraud, which in great Standing Lotaries is more likely to be practised. There is as many Bills made of the adventurers, by their names or poesies, as there are Blanks and Prizes to be drawn, answerable to the Tickets delivered for the money to every man that is an adventurer in the said Lotaries: and all these Bills of names being examined by the Magistrates or Commissioners, with the Books of Collection for the monies, are put into one great close Basket, with a hole in the middle thereof for a man or a boy to put in his arm to draw them at the appointed time. Likewise all the Blanks and Prizes, with the like survey of Sworne-men, are put into the like close Basket, after examination of the Prizes registered in the said Table, which being all of one fashion and bigness, are publicly upon a Stage mixed, tossed, and tumbled in certaines sheets of Canvas, before they be put in the said Basket; and between the said two Baskets sitteth the Drawer, putting both his arms at one instant severally in every Basket, delivering the Bills of the names or poesies with the right hand, and the Blanks and Prizes with the left hand, to certain Sworne-men, which do read the contents thereof openly to all the standers by; which Drawers or persons do change for certain hours, (for they continue both night and day until all be drawn out, without stirring of the Baskets.) Othersome do herein observe certain hours daily, and upon every discontinuance, they seal the said Baskets under two or three Seals from time to time, proclaiming all Prizes by the sound of the Trumpet, and stringing some blue papers in the Files made of the Blanks and names: and the Prizes every day drawn, are the next day to be seen in print, with the assistance of Officers appointed to see good orders observed in keeping the Peace, upon all occasions of fall out, which might happen amongst the unruly multitude of mechanical people. The Prizes are many to avoid discontent, which the reading of many names and answers in Blank provoketh. And commonly they do not exceed in number above thirty or forty for one; and so the least prize being but ten shillings, is proportionably three or four to one in value or in ready money. All the Prizes have a privy mark or number known only to some few persons, to prevent the counterfeiting of evil disposed persons or officers, which are hereby easily discovered. For all the cautions and preventions of dishonest and crafty dealings are more than necessary in Lotaries, the rather of the common opinion of all men, which hold it impossible for Lotaries to be without fraud. Caveat in Lotaries. And here I may not conceal a great fraud committed in Standing Lotaries, when not only the Prizes are overvalued, or change; but also when the parties of the Lotaries will set up the same to draw men to adventure, and take that to their advantage, filling up the Lotaries themselves, and enjoying the most Prizes by the multitude of the Lots put in by them: wherein they are like to the crafty common Outcryer for goods sold publicly in out-cries, by appropriating to himself and his partners (which are only known to him) all such good bargains and pennyworths as he hath with them contrived to bring about, Fraud of goods sold by outcries. or as he hath undertaken to put to sale for other men, under the colour of outcries, selling them (if he please) or keeping and retiring the goods into his own hands, when he cannot advance them according to his will, wherein other men are ignorant. And this being a vendition, may not be omitted to be noted in this Book, concerning all manner of buy and sellings; the rather, for that the adventurer in Lotaries incurreth less danger, than Merchants do in the course of Trade, especially in Assurances, when they do adventure one hundreth pounds for three or four pounds from London to Barbary, whereas for one Lot of twelve pence, he hath a possibility to have allotted unto him two or three hundreth pounds. Lotaries are commendable, The right use of Lotaries. if they be appropriated to their right uses and good intentions, finis Coronat opus: for this maketh them to be of continuance, pleasing and profitable, when the benefit thereof doth redound to pious works; as for the erecting of Schools and Universities, maintenance of the poor, and of widows and orphans, reparation of Churches and highways and ditches, for the plantation of Collonyes of people in other Countries, and building of Towns and Castles for their maintenance; as also to erect Pawne-houses to supply the necessity of the mechanical poor, suppressing intolerable usury; whereof we shall entreat in the second Part of this Book, concerning monies. The Etymology of the word Lotarie, is derived from the word (Lot:) And albeit all Lotaries are things casual in respect of man to whom the Lot falleth; yet in regard of the providence of God, they are certain (in effect) by the said Divine disposing of the Lot. Insomuch, that howsoever the words, Fortune, Chance, Fate, Destiny, and Casualty, are borrowed from the Heathens; it cannot be denied, but that (respecting the effects and operations of God towards man) they are proper distinctions of Gods Divine Providence: And hence ariseth the Proverb, Nemo sua sorte contentus vivit. (* ⁎ *) CHAP. XLII. Of Associations, Monopolies, Engrossing, and Forestallings. ASsociations are twofold, the one is done by public authority of Princes or States, upon Grants made by Letters Patents, which are properly called Societies; as the Company of Merchant Adventurers, Society of the Merchant's Adventurers. which are of 400 years standing or thereabouts, reckoning from the year 1248; when the said Merchants obtained privileges of john Duke of Brabant, and were called the Brotherhood of Saint Thomas Becket of Canturburie, which were confirmed by King Edward the third, Henry the fourth, Henry the fifth, Edward the fourth, Henry the sixth, Richard the third, and King Henry the seventh; who gave them the name of Merchant's Adventurers: after him also confirmed by King Henry the eight, Edward the sixth, Queen Marie, Queen Elizabeth, and lastly, by our Sovereign Lord King james; not without many enemies and oppositions, and most especially of late, taxing them to be Monopolizers, and unprofitable to the commonwealth; being that all our Clothes were not dressed and died in England. Whereupon their Patent was for a time suspended, but afterwards confirmed again unto them by his Majesty's ample Proclamation. As this Society is of ancient estimation, so is their government very commendable, and preserveth the amity and intercourse between the Realm and other neighbour Princes and States, venting the best commodities of the Kingdom; yet so, that every man selleth freely at his pleasure without any combination or limitation, to the great honour and service of the State, wherein they may daily see and observe more and more, as is heretofore declared. Societies of East-Indies, Virginia, etc. The East-India Merchants are also a Society, but their adventurers run all into main Stocks, and is governed and carried all jointly upon benefit or loss. This Company began in the year 1599 So the Merchants of Turkey are a Society. Also the Virginia and Barmuda Merchants, and diverse others, are Societies incorporated by his Majesty's Letters Patents, as aforesaid. The other Association is done by and between Merchants of their own authority, Partnership by Contract. joining themselves together for to deal and trade either for years or voyages; and this is properly called Partnership, where one man doth adventure a thousand pounds, another five hundreth pounds, another three hundreth pounds, and another four hundreth pounds, more or less, as they agree amongst themselves, to make a stock, every man to have his profit, or to bear losses and adventure according to their several stocks, in one or many voyages, for one or more years; besides the monies taken up at use to trade withal, proportionably according to the rates of their stocks by parts and portions, to be divided into so many parts as they agree: wherein the conditions be diverse, which must be observed truly, and the accounts accordingly; otherwise all will run into a Labyrinth and confusion. And by the common Law one partner cannot proceed against another, and in Chancery the suits may be prolonged for the life of a man, unless the Law-Merchant be better understood; and the Auditor's Office be enabled to end these businesses with brevity and expedition. There is another branch of this manner of partnership, Partnership by employment. which cometh to pass, when Factors beyond the seas (dealing for diverse Merchants) will sometimes make employment of several men's money in one kind of commodity to be divided amongst them. Here one may become a partner unawares and unknown, as of late I know the like did happen in a great bargain of Tobacco, whereupon all the partners (being seven in number) are fallen out, and diverse of them are in law. This course (although used) is very dangerous, especially when they use many Factors. One Merchant sendeth commodities to his Factor to be sold in Spain, and giveth order that by that means he shall provide money for his part of the employment of Tobacco to be made: another Merchant, he sendeth a Letter of credit of a friend of his, that so much money shall be taken up by exchange for Antuerpe or London, as shall be needful for his part: another Merchant he causeth so much money to be made over to his Factor by exchange ●●om Antuerpe, as will furnish for his part. Two other Merchants dwelling in Spain do furnish their parts there themselves. And amongst them all, they admit in Spain one Factor dwelling there to buy the Tobacco, and he hath a part with them, but findeth the means to disburse no money for his part, because he buyeth the said parcel of Tobacco (amounting to some twelve thousand ducats) and conditioned to pay a good part of it at six or more months. And the seventh Merchant, he provideth not any money, and neverles will have his part, because he gave order to his Factor to take it up by exchange for London upon him, promising that he would pay the same here. Hereupon the bargain and employment of Tobacco is made, the goods received and sent over to London, where it is dividedly delivered to some of the said partners to be sold (with one and others privity) for the general account of them all, to be made up amongst them to clear the said account, and every man to have his part of the benefit and profit, and likewise to bear such losses as may decrease their profit, according to equity and conscience. Interim it happened, that the Factor who bought the said Tobacco, died insoluent, who did not only leave his own part unpaid, but a far greater sum, which the other two partners were fain to pay, being bound for it, in all amounting to 1300 ll starlings Now the question is, How this loss shall be borne amongst them? The first Merchant, he sayeth, I did send commodities, and by the provenue thereof my part was paid by him that died, and that dependeth upon accounts to be cleared between him and the party deceased: the second Merchant, he sayeth, My part was paid in ready money in Spain, taken up by a Letter of Credit, and I am to bear no part of the loss: and so saith the third Merchant, that made over his money by exchange from Antuerpe: the two partners dwelling in Spain, they say, That they have not only paid their parts of the Tobacco, but also the 1300 ll which were owing to the Merchant that sold the Tobacco, and therefore they demand much money due unto them, and that resteth also upon account between the party deceased and them and others. The party deceased (being decayed) hath few to undertake the administration of the estate: and the seventh Merchant is contented to bear his part of the loss, so he may come in for his part of the gain, and saith, That if the money had been taken upon him by exchange, he would have paid the same. But howsoever, he is able to prove that he had provision sufficient to pay his part, in the hands of some of the partners there; and for as much as he hath borne the adventure of the seas of his part of the Tobacco, he claimeth his part of the gain; for if all had been cast away at the seas, it is certain the rest of the partners would have made him to bear the loss of his part. And thus they are all in a Dilemma, and having some of them bonds, others contracts, and some but accounts and papers, they know not how to make an end; and such as have more than their own, are remiss enough to procure an end. I have thought good to set down this Case, because men of understanding may judge ●ow it is possible that the common Law (by the strict and peremptory proceeding of it) can determine the same without the Law-Merchant, not knowing the Custom of Merchants, being also impossible to direct a jury of twelve men in the premises, wherein I am now an Arbitrator myself. Description of Monopolies. MOnopolies are somewhat displeasing, because the property of them is commonly to engross things to an ill end, increasing the price thereof disorderly, drawing a general benefit to a particular, diverting the course of traffic: but for as much as they are used now a days, it will be convenient to distinguish them by Reasonable, Unreasonable, and Indifferent. Reasonable, of such things and trifles as are for pleasure, as Starch, Cards, Lute-strings, Tobacco, and such like. Unreasonable, as of Flesh, Fish, Butter, Cheese, or needful things for the sustenance of man, without which he can hardly live civilly. Indifferent, as of Velvets, Silks, Sugar, Spices, and other delicacies and dainties or curiosities, indifferent to be used or not. All these are done by public authority of Princes and States, by Letters Patents granted for term of years: Engrossing. but Engrossing is done by private persons of their own authority, which is commendable, to keep commodities in reputation to maintain a trade thereby: as when men of means do engross and buy up a commodity, and for reasonable gain they sell the same again to shopkeepers and retailers; this is much used amongst Merchants of all nations: otherwise when abundance of a commodity doth so much abate the price of it, that Merchants do become losers and discouraged, than the traffic and trade is thereby overthrown, to the general hurt of the commonwealth. In which respect it is better to pay somewhat more for commodities, than to have them altogether over cheap, especially for commodities serving for the back, Forestall or Forestallers called by the Civilians Dardanary. and not for the belly, which diverse times by Forestallers become dear. Against which kind of people (Regrators and others) there are very good laws made, which the magistrates are to see observed: and in France and Scotland, the Admirals of the seas have an absolute authority to look unto this inconvenience. The government of Norenborough in Germany is much to be commended, not only for the provident care to prevent Forestallers, Commendable Engrossing. but also for the engrossing or incorporating of all manufactures into their own hands to set the poor people continually on work, themselves causing the said manufactures to be sold at such reasonable rates, as none can make or provide better cheap than they do, whereof abundance is bought and sent for the West-Indies and other places, the mechanical people are very much cherished by them, and all Artists are welcome unto them, which maketh their city populus. The Hollanders do imitate them, and some money of the Bank at Amsterdam is employed therein; for the Proverb is to be commended, Sceptra savent Artes. The Civilians have made the Latin word Monopolium, borrowed from the Greek, to be less understood, because of their many difinitions thereof, which made me to treat of Associations, Monopolies, Engrossing, and Forestallings, as having affinity one with another, and to describe them in divided manner, as also to note their coherence, as followeth. For an Association, Company, A Society may become a Monopoly. or Society may become a Monopoly in effect; when some few Merchants have the whole managing of a trade, to the hurt of a commonwealth, when other Merchants are excluded to negotiate with their stocks, to vent the commodities of the realm with reputation, according to the word 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 Solus and 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 Vendo, A Society may become a Monopoly. to sell alone. And as this is done many times by one Merchant, for one kind of commodity (be it Corn, Salt, Oil, Woolles, and the like:) So may it be done by a Society of Merchants continually, under the colour of authority. Albeit that there be no combination to limit any certain prices, for the sale of commodities in the particular of one Merchant or more Merchants agreed together to buy up a commodity, it may be called a forestall. As one Dardanus did, whereof (as we have said) the name Dardanarij was used by the said Civilians, who define them to be 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉. Qui omnia praemunt, ut carius vendant, That forestall or buy up things, to the end they should sell them dearer. Which although it be agreeable to the practice, meaning, and intentions of Merchants: yet the practice is contrary to the Laws; for it would run into disorder, in the government of a Commonwealth. In the general, where a Society buyeth commodities apart, and selleth apart, although under orderly government, it is in the nature of engrossing, as the manufactures of Norenborough aforesaid; and being done with discretion and good order, it can give no cause of offence; but the abuse thereof made the same odious, and so generally to be known of all men; as the word Usury is, implying a biting. Definition of a Monopoly. THe truest definition of a Monopoly therefore is, A kind of commerce in buying, selling, changing, or bartering, usurped by a few, and sometimes, but by one person, and forestalled from all others to his or their private gain, and to the hurt and detriment of other men; whereby of course or by authority, the liberty of Trade is restrained from others, whereby the Monopolist is enabled to set a price of commodities at his pleasure. A Merchant of London, having sent a great Ship to Zante, to lad Corrints and Wines, being there arrived; another Merchant there inhabiting, upon knowledge hereof, caused all the Corrints to be bought up, to prevent the said Merchant, and to compel him to buy the said Corrints of him at dear rates, to lad the said Ship, which made the Factor (appointed to lad the said Ship) at his wit's end: But being ingenuous he devised a course to disappoint the said forestall Merchant, and caused Bills to be set up in all public places, to give notice that the said Ship was come, to take in Merchant's goods for her lading, and to return for London: which being understood by him, brought him into a secondary, and to set all the Brokers of Zante on work, to help him to sell the said Corrints again, whereby he became a loser. In this and the like cases the said Societies are to have a care of prevention; otherwise it is the part of the Prince to look unto it with a politic eye, upon complaint to be made, as of late years hath been done (when the French Merchants did strive to bring new Wines first to the Market, thereby enhancing the price of Wines in France:) it was ordered and commanded by Proclamation, That no Wines growing in France, should be sold or put to sale, before the first of December, to be observed every year. The like was done heretofore by our Merchants trading Spain, in the buying of Rotta Raisins by an order amongst them, That none should be sold by them before the last of October: which being known to Merchant Strangers, made them to preoccupy the Market (they not being bound to their orders;) so that this is to be done more properly by the King's Proclamation. Here I call to mind my former observation of that royal commodity Tin, which above one hundreth years since, Preemption of Tin. was sold for forty shillings the hundreth, when the best Velvet was sold for ten shillings the yard: how Merchants trading Turkey found fault with his Majesty's preemption of the said Tin, and caused the same to be abolished, to keep the price thereof at fifty five shillings the hundreth, and (bringing in Corints, Levant Wines, Spices, and Indigo, at dear rates, as they sold them) used all means to suppress the rising thereof: which being considered of by foreign Nations, caused them to use means to incorporate or engross the same, whereby that commodity came to be of more estimation and request; where ●pon the said Preemption was reestablished, which hath increased the stock of the Kingdom since that time above six hundreth thousand pounds, being risen to double the price, and yet but proportionable to the price of Velvets and other commodities. On the contrary, another commodity Mineral, namely Copperas, which was sold heretofore (when there was Letters Patents for the sole making thereof) for 10 ll, and 12 ll the Tun, whereof a great trade might have been made for other Countries: hath been so ill governed by workmen underselling one another, and for want of orderly carriage, that the same is sold under 3 ll the Tun, and is become a mere drug out of request, by the abundance made and indiscreetly vented, bartered or exchanged. France yielding abundance of Salt, although one year more than another, suffereth not the commodity to be overmuch vilified. For albeit that the subjects within the Realm do not care how good cheap they buy the native commodities, because of their own benefit; yet the Prince ought to have a care to reduce them into trade, with a respect of the foreign commodities brought into his Kingdom. So that not only those Letters Patents or privileges granted by them, for the reward of new inventions are necessary: but also some directions to Companies or Societies, are (in policy) very requisite. Letters Patents for new inventions. Virtue in a Commonwealth ought as well, and rather (in some respects) to be more rewarded, than Vice to be punished by cutting off the malefactors. This is agreeable to the Common Law of the Realm, and the fundamental Laws of all Nations: granting the Projectors or Inventors, privileges for twenty one or more years, which some men without distinction of Monopolies, would have abridged to 14, 11, or 7 years, wherein the thing itself ought to make the difference, upon good considerations, and not to measure all things alike. For example, the Grant made for the sole importation of Spanish Tobacco, The Farm of Tobacco. doth gain and save the Kingdom many thousand pounds yearly: for Bays, Says, Perpetuanoes, and the like commodities, which these two years have been sold in Spain, with fifteen upon the hundreth loss, to procure money to buy the said Tobacco, are now sold to so much benefit, besides the advancement of the Plantations of Virginia and the Bermudas. But this is not proper to be done for other commodities that are not of that nature, neither of commodities to be exported, wherein such and the like considerations is to be had. The general intention of all Grants by Letters Patents for Manufactures, hath a relation to set the people on work, to recompense the inventor of the Art or Science, and that things may (in some measure) be better cheap to the subjects. What shall we say then, of those Grants which make the commodity good cheap to foreign Nations, and dearer to the subjects? Surely this cannot be without some great abuse. If a Keelne for the drying of Malt for all the Kingdom over, were invented to be done with Pit-coale, better cheap than with Wood fire, and more pleasing, without the sent of smoke; and that this Keelne or Keelns were placed in convenient places, for all men's access, whereby they should save much charges, and have their Malt better cheap: if hereupon Letters Patents were granted to reward the Projector, no man of judgement will call this a Monopoly, nor any part thereof, although the public liberty seemeth thereby to be restrained. For take it another way, and you shall find it rather to be a common distribution than a restraint whensoever it bringeth a general good and commodity to the Commonwealth. The Statutes of the Kingdom restraining from the exercise of sundry Crafts all such as have not served an Apprentishood unto the Art which they would exercise, do it to no other end but that those Arts might be brought to better perfection, and the things made, might be good and serviceable for those that buy and use them. Some men are well contented, if a prohibition or restraint of a commodity be done by Act of Parliament, and they will no manner of ways have called the same to be a Monopoly, although it be so in effect, when a Society of private Merchants have a privilege to themselves only to sell certain commodities, or to import them, and all other subjects are excluded, although they were neither the discoverers or first inventors thereof. But if it be done by the King's Prerogative, than they take it to be a kind of Monopoly. So that, if it be by a dispensation upon a Penal Law, they make the same questionable; wherein nevertheless the Prince's wisdom is to rule for the good of the Commonwealth. Others would have all things at large in the course of traffic, and that there should be no Societies or Corporations of Merchants for any places of trade; but that by way of partenership, Merchants might associate themselves to make or enterprise some voyages, or in sending of commodities in copartnership, without regard had that innovations are dangerous, where the trade hath been carried always by Companies or Societies, whereof some are of great antiquity. This is more considerable in the governements of Monarchies (and especially in Islands) than in State or popular governements, where the overbalancing of foreign commodities is not respected; neither the overaboundant inhabitation of strangers, which augmenteth their Customs and Impositions laid at pleasure upon their commodities; as a principal matter whereby they subsist. Others make a difference between Companies or Associations, dealing in a joint Stock, or apart; affirming the negotiation of a joint Stock to be within the compass of a Monopoly: Nevertheless they would be contented to tolerate the same, for the employment outwards. But for the returns homewards, they would have a division in kind, or species of the commodities which they receive; which is contrary to the manner of the portugals, whose experience hath made apparent unto us, that they have for many years sold their Spices and other East-India commodities, with good order and reputation for their benefit. And in this course they use many times other men's names, Merchant's using each others name. according to the Custom of Merchants; as they do also manage other men's affairs in their own names: but this is done with the privity of the party whose name is borrowed, and thought worthy to be trusted, otherwise it may prove very dangerous, especially in time of war. Touching forestall of Corn or other commodities in Markets, it is (as I have said) provided for by Laws; nevertheless the Civilians have noted, That by the Municipal Laws of all Countries, it is not prohibited for any man to make his provision of Corn, or other victuals for one whole year, and upon changing of mind, to sell the same again to profit. (* ⁎ *) CHAP. XLIII. Of Merchant's Oppignorations. Merchant's oppignorations are more used in regard of the commodiousness of it, than upon necessity, as other goods are pawned. For when a Merchant hath a Ship come home, laden with Wines, Oils, Woad, or such like commodities, and is to pay a great sum of money for Fraight, Custom and Impost, he will not willingly disburse more money, but will endeavour to sell part of his commodities to pay the same withal: because that thereby he may avoid the payment of interest for money unto others, which sometimes he cannot so readily find upon his own Bond alone; and if he do, then must he be tied to take the same for four or six months, and pay that interest; when within one month he may make moneys of his own goods. Upon consideration whereof some rich Citizens that have great houses, and many Sellers or Warehouses and to let them at greater rents; have been contented to lend money upon the goods brought into their Sellers and Warehouses, paying after the rate of ten in the hundreth for the year, and when they sell their goods they must pay them the said money: for they do trust Bayard in the Stable. In which regard the houses of Commerce are very necessary, and other such houses that are spacious to receive great quantities of commodities, where the Customs and Impositions are only paid by the sale of the commodities, and you may borrow more money for little or no consideration at all: and hereby doth a Merchant enlarge his trade, and young Merchants (having small Stocks) find great ease and commodity. You have at Lixborne the Alfandega, in Seville A Dicana, at Venice Il fontego: Houses of Commerce. at Antuerp the house of the Easterlings is memorable, whereof I did deliver the figure in print to the late Earl of Salisbury; when he caused the Britons Burse to be builded in the Strand, and withal a project to build a house of Commerce upon the Tower Hill, which he did like exceedingly, and protested that if he had not begun that work, he would undertake this project: which I do here declare, in hope that some honourable friend to Merchants may be pleased to build the same hereafter. Domus Commutationis. THe situation of this House of Commutations or Commerce, would be very commodious upon the Tower hill, to be made of free stone; the proportion almost square, according to the said Easterlings house at Antuerpe, leaving a fair street on every side: the fore part thereof towards the river of Thames, and the water to be brought before it, by cutting in the dock below the Tower wharf, so as two ships of ordinary burden might at one time come in to discharge at the Cranes to be made there for the purpose. The dryness of the ground is very fit to make great Cellars, in the midst a stately Court, and all the lower part of this house double Warehouses for commodities of great Bulk, and over that Galleries answerable to the lower part, set upon stately Columes, full of Warehouses for small wares of value: and so for a third Story, and double Garrets for corn and such like commodities, reserving some fair rooms for the entertainment of great personages (coming from beyond the seas) to feast them only; also with a magnificent Turret, great Gates, and places with balances and beams to weigh all sorts of commodities. The earth of the Cellars would serve to raise the hither part of the ditches of the Tower to make them deeper, and part of the ground level, fit for goodly walks; and for the scouring of the dock or entrance, a Mill might be made to grind minerals, and other things. One part of this House to serve the clothiers that cannot conveniently at all times sell their clothes at Blackwel Hall, which they may remove when they have occasion to use money to buy necessary commodities to maintain their trade; which commodities they may have for that money, or by way of commutation, as Wools, Oil, Woad, Indicoe, Cutcheneale, Allome, Copperas, or other such like extant in other Warehouses of this House, as by the Register kept thereof will appear; whereunto all Brokers shall resort, and have notice of if they will. When the clothiers shall have this commodiousness, they will increase their trade, and set more people on work to make good clothes, according to the statute, which will be more vendible in other places beyond the seas, to the general advancement of traffic, his majesty's Customs and Impositions, and all other dependencies thereupon. No man is compelled to bring his commodities to this House, but alured thereunto by the commodiousness and benefits thereof, because of the ease of Warehouse room and Cellaridge at easier rates, the commodity of sale or barter, the forbearing to pay Customs and Imposts for a time, the taking up of moneys to serve his turn, and the goods better assured than in other places. According to the said house of the Easterlings at Antuerpe, there will be 108 cellars, and double that in warehouses, and after that so many garrets, in all above four hundred rooms. The benefit whereof will be very great, one with another at 10 ll is 4000 ll. The benefit of weighing all commodities, and the selling and registering of all will be much more. And all the charge of this house is by the computation of some workmen to be done for 15000 ll, and may yield 10000 ll yearly profit, to the honour of the King, reputation of the city of London, and welfare of the realm, and credit of Merchants. Staples of Wools. Our Staple of Wools (heretofore kept at Calais and Bridges in Flaunders) is now out of use, and Staple Towns are all (as it were) incorporated into London; and therefore it is to be hoped, that some worthy Merchants will of good affection to the City and State, be ready to resolve to undertake this building of the house of commerce, as a worthy monument for posterity, and ease of all traders. The old Romans (when moneys were first made of Copper, and then Silver, and before Golden coins were made) had appointed a place, Mensa Argentaria. called Mensa Argentaria, where they lent moneys upon commodities for a reasonable consideration, to advance traffic and trade, which (in comparison of ours) was but in his infancy, and therefore to be left now to the mercy of moneyed men (without other provision by authority to supply men's occasions) seemeth to be impertinent, especially when moneys are not plentiful. Having hitherto treated of buying and selling, and the dependencies thereupon, now we are to speak of receiving and paying by moneys, and of the manner of Merchant's dealings therein. But this doth properly appertain to the second part of the Law-Merchant, where moneys are compared to the Soul of traffic and commerce. A question touching Merces Vaenales for Oppignorations. Returning therefore to the said matter of Oppignorations, let us note the questions of Civilians, Whether in the general binding of a man's goods, wares to be sold (called Merces Vaenales) are comprised, by saying, he bindeth his goods present and to come? The answer is, that they are bound, but yet the sale of the said goods is not hindered thereby, unless they were pawned or obliged to be in a place certain, and named in the writing there to be extant. Also in Tacita Hipotheca, or as it were close pawning, Merchant's money may be comprehended and made liable: but this is to be understood of moneys had some other way; for it is reason that the money which a man taketh up shall serve him to expedite his affairs. Titulus Mandati. Also in binding of future goods, it is to be understood only of such goods as he may get during his life, and not by any of his heirs. These reasons have a reference to traffic, which is a general body, and commodities by merchandising or commerce do supply themselves in their places; so that when some commodities are disposed of, other commodities come into the room thereof: and the laws have always more regard to the general than to the particular; insomuch that a woman (even for her dower) cannot arrest her husband's goods, finding his estate to decay. CHAP. XLIIII. The proceed used against Bankrupts. THe mutability and inconstancy of all worldly affairs (and especially of Merchant's estates) causeth me to remember the ancient Dutch Proverb, A dutch Proverb Englished. Goods lost, nothing lost; Credit lost, much lost; Soul lost, all lost: for to be rich and to become poor, or to be poor and to become rich, is a matter inherent to a Merchant's estate, and (as it were) a continual and successive course of the volubility of variable blind fortune, which is admitted (according to the heathen word) for a distinction of God's providence, as the words of Fate, Destiny, Chance, and the like are, for the better understanding of it; so that by the frequency of it, Merchants have made a great difference and distinction between a Merchant which is at a stay and taketh days for the payment of his debts, or one that is broken or Bankrupt, having an especial regard herein for the preservation of credit, which is as tender as the apple of an eye: for it happeneth many times, that Merchants (having taken up money at interest to augment their trade, and thereby doing good to their prince and country) shall receive some unexpected losses by wars on land, or Embargoes, or restraints of Princes upon the seas of their ships and goods, or by having sold their goods and merchandises at home at long days of payment, or otherwise by other occasions, having their best means in remote places, whereby the said Merchants cannot suddenly make payments of such moneys as they have taken up at interest, which in that Interim may be due, and so they are driven at a stay, although they have very good estates: for some rich men (who like an Ape tied to a clog, which thinketh that he keepeth the clog, when the clog keepeth him) are so tied to the clog of their wealth, that upon the least rumours of troubles and accidents happening to their debtors, they become suspicious of these men's estates, and fearing to become loser's, are so inquisitive of their debtors means (without reason and discretion) to the great hurt and impairing of Merchant's credit and reputation, that thereby they are driven into a straight upon a sudden, and so overthrew them (unawares many times) to their own hindrance and loss; A caveat for Merchants. so that Merchants must be very provident and careful with whom they deal, in taking credit for moneys, and not to have too much of their estate abroad; for the Proverb is true, That he who is farthest from his goods, is nearest to his loss. And in this case, Princes have great reason to interpose their prerogatives for the defence of these Merchant's persons and goods for prevention of their overthrow, until their goods come to their hands and disposing, that have been detained as aforesaid. This difference and distinction between a Merchant taking days of payment, & a Bankrupt, doth encourage men to deal honestly and conscionably especially with the virtuous and well disposed, for Virtus laudata crescit, whereby they pay every man his own in time, and for the most part with interest for the forbearance of their due debts: And therefore is it, that to call this man a Bankrupt, beareth a great action by the Civil Law, as also by the Common law of the realm, which is very careful for Merchant's credits and reputation: for that Merchant which in the storms of adversity, showeth to be a good pilot, deserveth great commendation of the care and endeavours which he useth to prevent the shipwreck of his reputation and credit, especially with a good conscience, which will be unto him a continual feast, although the seas be turbulent, for he is armed with patience, and not destitute of comfort: and on the contrary, those that like cowards become careless of their credit, or being of an evil disposition, seek to defraud their creditors, and to enrich themselves by their breaking, paying little or nothing; they do not only deserve a name of defamation, but aught to be met withal by some severe punishment by the Law. Severepunishment of Bankrupts. It is not long since, namely in the year 1602, that there was a Merchant at Rouen in France, who together with his son and a Broker had confederated to buy great store of merchandises upon their credit, of purpose to break and to enrich themselves; which being known, made them to be apprehended, and the court of Edicts did proceed criminally against them as thiefs to the commonwealth, whereof they were also convicted, and all three of them hanged in the market place: observing that the reprehensive Proverb (Dat veniam Coruos vexat censura columbas) was to be remembered, To punish the small theft or little thief, and to suffer the great thief to escape, which is unreasonable. The statute against Bankrupts. The Statute of Bankrupts made and provided by our law, against Merchants and Citizens only, was done to a very good intent, if it were executed accordingly, with due consideration of the quality of persons and their behaviour. But some can prevent the means of suing forth the same, and so break the strength of it, as easily as a Spider's web, whiles plain dealing men are laid hold of, that have an honest intention to pay every man, according to their ability present or future, as God shall enable them; for Vltra posse non est esse. But these well meaning men are oftentimes hindered to perform their honest intentions, by the hard and obstinate dealing of some of their creditors, to the utter overthrow of them, their wives and children, and the general loss of all the rest of the creditors: these men therefore are to be overruled by the Lord chancellor, who may compel them to be conformable with the other creditors, according to the Customs of Merchants in other countries: and there hath been in times past, during the Reign of Queen Elizabeth, Commission for the reliefs of prisoners. a Commission granted under the great Seal of England, for the relief of distressed prisoners in the prisons of the Fleet and the King's Bench; which Commission, if it were renewed for the relief of the one and finding out of the other, would work much charity and contentment to the subjects. Howbeit to prevent these extremes is more commendable, for many Merchants and Shopkeepers do flourish and become rich again, if their creditors be favourable unto them, and do pay every man to the full. Therefore are the Letters of Licenses devised amongst Merchants, Letters of Licence given to debtors. which are as a Passport for the persons and goods of the debtors, given by the creditors, by way of covenant, that they shall not (for and during such a time or term of years) trouble or molest the persons and goods of the said debtors, nor cause to be molested, arrested or troubled, upon pain and forfeiture of their said debts, to be pleaded in Bar against them for ever, as a full payment of the same. For the better encouragement, and to retain men in their duties, The Custom of Merchants concurring with the course of the Civil Law herein, Restauration of credit. doth make a restauration of credit to those that pay their debts to the full, notwithstanding their losses which they have sustained; and they may have a publication made of it, by way of intimation to all men upon the Exchange or other public places, for a perpetual remembrance to posterity, of their honest religious and commendable endeavours and behaviours, to the honour and credit of their house, kindred, or good descent: which is more especially regarded in Spain, A gentleman's privilege in Spain. where a Merchant or Citizen being decayed in his estate, and having paid according to his ability, yea, although he doth not pay at all, shall be freed from all arrests and troubles touching his person, if he make proof that he is a Gentleman by birth: which extendeth so fare, that all Merchant's Strangers may have and enjoy the like privilege, upon Certificate made by any that is Ambassador and agent for their country; who commonly will do it upon the verification of it, by the Heralds or otherwise, which causeth men not to degenerate in virtuous actions, although adverse fortune playeth her Tragedy; which they overcome with constancy and magnanimity. The said Statute against Bankerupts is made upon very great consideration, which lieth not against a Gentleman; so that to call a decayed Gentleman, a Bankrupt, (although he have had dealing in the world) beareth no action at the Common Law, unless he were a Merchant or Shopkeeper, etc. Commissioners for the Statute of Bankerupts. The Commissioners appointed by the Lord chancellor under the Great Seal to execute this Commission of the Statute of Bankrupt, must be Councillors at the Law, joined with some Citizens or Merchants, which are to seize of the party (which by the said Commission is proved to be a Bankrupt) all goods, debts, chattels and moveables into their hands, and to appoint one or two of the creditors to be Treasurer of the same, which is afterwards to be distributed by the said Commissioners, unto all such as they shall find and admit to be right creditors to the party (and with his privity and consent) upon such specialties, books, or accounts as they shall produce and be made apparent unto them; which must be done within four months after the date of the said Commission. The contents of the said Statute. For if it be after the four months expired, they may exclude any creditor if they see cause; so that the said distribution shall be done to those only which have been admitted within the said time, according to their several principal sums due unto them, without any interest for the forbearance since the speciality was due, or any forfeiture; howbeit charges in Law expended for the debt, shall be by them allowed according to their discretion. So likewise is it in the discretion of the Commissioners to admit any creditor to come in, where the party was surety for another, if that party be likewise decayed. For it is usual for interest money, that two or three are bound together, and the collateral Bonds which they give each to other to save harmless are to be considered, both by the said commissioners and the creditors. It is also provided by the said Statute, That whosoever shall be found to have voluntarily yielded to any arrest, or his body to prison, and so remaineth in prison, for, and during the time of six months, thinking by that imprisonment to free his goods, and to deceive his creditors; against him may the said Commission be sued forth and executed accordingly, for he is to be taken for a Bankrupt according to the said Statute; and if the party be at liberty, against whom the said Statute of Bankrupt is taken out, the said Commissioners may (if they see cause) commit him to prison, and give him some allowance for his maintenance. And of all their proceed there is a Register appointed, by his Majesty's Letters Patents under the Great Seal of England to record the same, until the Lord chancellor do dissolve the said Commission by a Supersedeas. Definition of the word Decoctor. The Civilians are copious in the description of this Argument, and have attributed unto this kind of people, the name of Decoctor, which is derived from the word Decoqu●, as it were to consume the substance of things, by decrease and evaporation of boiling over the fire, otherwise called disturbers or consumers of other men's goods in the course of traffic. Nevertheless they do observe great distinctions between these persons, as in the Treatise, De Decoctoribus, made by Benuenuto Straccha, appeareth. And the Definition of Bankerupts is three manner of ways distinguished: First, When a man becometh insoluent, by losing his goods and other men's, by fortune, mischance, and casualty, which man is not taken to be infamous by the Law, endeavouring to make satisfaction as he can. Secondly, When a man by wasting, spoiling, and viciously given, consumeth his own and other men's goods, and he by the Law is infamous. Thirdly, When a man is decayed, partly by wasting and spoiling of his own and other men's goods, and partly by misfortune, and accidents; and this man is taken to be infamous, if he be vicious. Hereunto I may add the fourth, and most vile person, who enriching himself with other men's goods, breaketh without just cause, and only of purpose to deceive men, according to the aforesaid example of Rouen. Albeit I am of opinion, that the said Civilians have left them out of the number to be criminally punished, as thiefs to the Commonwealth, by the magistrates or princes authority, as the Banker of Florence was; who breaking for many millions of ducats, made a sudden and deceitful composition with his creditors for the one half, and did pay them in ready money: which being understood by the great Duke, he caused his process to be made instantly, and thereupon he was executed also accordingly; which was good justice, and is to be done by the Magistrates, and not by the creditors. Punishments of Bankrupts. As of late years one of Genoa in Italy did unto a debtor of his, whom he knew went about to deceive him for great sums of money; whereupon he caused a Chair to be made, and called the party to his house and entreated him to sit therein, which being made with certain engines, did suddenly so gripe and clasp in his said debtor, that he was compelled to pay him, or it might have cost him his life. True it is, that in Russia a man hath leave to beat, or to have his debtor beaten upon the hinder parts of the legs, if he cannot pay, and therewith is he discharged; which is not so cruel as to keep him always in prison, and make him to endure a linger death, wherein the undoing of wives and children are made partakers unjustly. Concerning fraudulent dealers the Law is, That by making Session they shall not be relieved, and may be apprehended in the Church: whereas a freeman cannot be arrested or taken in the Church, but may be unto him a place of refuge. If he be found a fraudulent man by his books of account, than any bargain or sale made two or three days before his breaking, by goods sold good cheap, may be recalled and avoided; and in like manner, if he pay one man after his breaking, the same may be taken to be done in fraud of all the other creditors, and may be recalled for the generality. So goods bought by him before breaking, if they be found in esse, may be claimed by the Seller to his particular use and payment again. All conjectures of fraud may be augmented and aggravated against the fraudulent man, according to the saying, Semel inventum decies factum. If any man do break in partnership, the partnership is ipso facto dissolved by law: but the credit of the other remaineth, paying the debts of the partnership. Also any commission given by him (for the partnership) is void instantly: howbeit, if a Factor by ignorance of his breaking, have caused his commission to be followed; that which is done doth bind the Master, and shall excuse the Factor. Suspicious Debtors. A debtor suspected by others, may be touched before moneys be due, and the creditor may attach some of his goods or pawns: which is the cause that the writ of Latitat out of the King's Bench court may be served upon them to find sureties for their appearance (at the return of the writ) before the judges of the said court. But the laws in diverse countries do very much differ in the proceed and execution of these fraudulent men. A question for suretyship. Here ariseth a question, Whether a Surety can pretend to be discharged, if the Creditors have made or agreed with the Principal for a longer time of payment, and the Principal breaketh? The answer is, That if he knew of the new agreement of the said party for a longer time, he is liable thereunto; otherwise being bound as a Surety for a time limited, he ought to be cleared at that time, or to make suit or demand to have his satisfaction of the Principal, as also of the Surety, which being neglected, doth in equity discharge the said Surety: the reason is, because if the Surety do break at or before the time of the payment, the Creditor may demand another Surety in that man's place which is broken, wherein the law is very indifferent. And this is the cause that diverse Lord Chancellors of England (for moneys taken up at interest upon bonds) were of opinion, That when the said moneys are continued or prolonged at interest, the bonds should be renewed, and the counter-bonds also, and not to leave the old bonds for many years to be uncancelled; for it doth oftentimes happen upon occasion of absence of some of the parties, that a new bond is sometimes sealed, and the old not taken in, which breedeth contention; for the new bond being made, the old is void, and yet may be uncancelled, and also put in suit by some executor or administrator ignorant of the other new bond taken for the same, and paid long before: Albeit herein it seemeth, there is more reason not to make new bonds; howsoever diligent care must be had herein both by the parties and Scriveners which make the bonds. Concerning agreements to be made between Bankrupts and their Creditors, there is a question made, That if Creditors do agree with their Debtors for some part of their debts, Agreements to be made between a Bankrupt and his Creditor's. because of the Debtors losses and misfortunes, Whether, when the parties being become rich again may revoke their agreement? And the law hath determined this question, That if upon the agreement, there be an Acquittance made by the Creditor, than the same agreement is absolute and cannot be revoked, unless the Acquittance were conditional. The greatest number, or the greater sum of the Creditors being agreed with the Debtor, are bound to be conformable with the other, and to do the like with the help of authority, not only by the Civil law, but also by the Merchant's Court of Prior and Consuls, which authority is already noted before to be in the Lord Chancellor. But the difference is great between the greater number of the Creditors, or the greater sum: for a man may have an infinite number of small Creditors, or few Creditors for very great sums by him owing; so that the greater number should overrule the greater sums. It is therefore thought convenient to follow the greater sums, which never the less doth not hinder the smaller number to proceed upon goods appertaining to the party, if they can find them, if by the said authority the whole estate of the Decoctor be not managed: Bills of conformity in Chancery. whereupon the Bills of conformity were of late years used in the Chancery, which by the Parliament Anno 1621. are made void, because of diverse great abuses committed in thedefence of Bankrupts, who to shelter themselves from the rigour of the Common-lawes, did prefer their Bills of complaint in Chancery, which was in the nature of a Protection, and the parties broken, became to be relieved for easy compositions with their Creditors, albeit at charges another way extraordinary. Now concerning fugitive persons (being indebted) if they be Merchants, they are taken pro confesso to be Decoctors or Bankrupts, Fugitive Merchants. for they in substance by their absence deny to give a reason of their losses to their Creditors, which they ought to do, if by fortune they are to have good and favourable dealing, if it shall appear (that by losses and not by wasteful or lewd behaviour) they came behind hand, whereby the Creditors are induced to divide in some measure the party's goods amongst them, as they may by the law and custom of Merchants. The statute (made in the 34 year of King Henry 8) hath well provided against these fugitive persons, Proclamation against fugitive Merchants. that a Proclamation shall be made against them, That if they do not return within three months after they shall have notice of it (which by Affidavit must be certified) to present themselves in some convenient place to be declared, that then they shall be proceeded against, as if they were contemners of the laws of the realm. And in the mean time (by order from the Lords of the privy Council, who have authority to grant a warrant for the Proclamation) all such revenues of lands or goods to be sequestered, and afterwards to be sold as cause shall require for the payment of the Creditors, which execution hath lately been practised against diverse, but lieth only against the king's subjects, but not against strangers, nor other persons which are not Merchants or tradesmen. All means of strict proceeding are to be used against those fugitive Merchants, as also other Decoctors, and against them that do give them any aid or assistance, which is not tolerated by the law: for he that will help them because he may the sooner recover of him his own payment, may be convicted of fraud by the law, when it is found out and discovered; besides that, the other Creditors may call that money back again to be distributed amongst them. And the Dictio, Nullo modo, How to be tak●n. nullo modo is to be understood at no time, and without any reason of excuse, in all other things prohibited by the law, especially in this which concerneth the disturbers of commerce, so much to be celebrated. And because many questions do arise by the means of the interruption of traffic by Bankrupts, and that (as I have noted already) the laws in most countries do differ in the proceed against them: I have therefore in this Chapter made a more ample discourse, both of the Civil Law, the customs of the Merchant's courts, and the examples and laws of other countries, to prevent the multiplicities of cases which might be alleged by true observation of the premises. A question which concerneth the estate of Bankers. The question concerning Bankers which have their several places or Banks in diverse jurisdictions, and become Bankrupt, How their Creditors shall be dealt withal in the dividing of their estates between them, is worthy the observation: for whereas they keep two, three, or more Books of account in several places, and therein distinguish the Creditors of their several Banks: The Civilians are of opinion for the most part, That the Creditors of one jurisdiction should not participate with the Creditors of another jurisdiction, and have put the same in practice; but the court of Merchants do use to take an account of the state of the Bankrupt dispersed in all countries, and divide accordingly. (* ⁎ *) CHAP. XLV. Of Manufactures. Having so often inculcated that important argument, whereby true Merchants are to be careful, That traffic and commerce may be profitable as well to the commonwealth, as to themselves; we may not omit to entreat of Manufactures, as an important matter to the customary Law of Merchants, considering the abundance of materials and stuff which the realms of England, Scotland, and Ireland do afford, Idleness the root of all evil. whereby the people may be set on work to avoid idleness (which is the root of all evil) most dangerous in countries which are populous. Experience demonstrateth unto us, how many other nations (having not stuffs of their own, but from others) do nevertheless set their people on work upon the stuff and materials of other countries, making and dispersing the same into a large trade. Therefore it is convenient to encourage all men to reward new inventions with some privileges for a time, and not for ever, New inventions to be rewarded. to avoid the course of Monopoly, and to make the benefit to the commonwealth more general, which maketh men painful by the radical moisture of gain, whereof Merahants are to have a consideration so to reward the artificers and handy-crafts-mens' labours, that they may live by their work, according to the Dutch Proverb, which themselves use so frequently, Leven end laeten leaven, To live and to let others live. This is to be regarded also by statesmen, Live and let live. forbearing to impose over great Customs to be paid upon commodities, whereby the people is set on work both upon goods imported and exported. It is therefore prohibited in France, that tallow be brought in, but not candles; old shoes, but not cobbled; paper, but not cards, and the like; much more for richer wares, as silks, cotton-wools, and linen etc. The commodities which are not made at all, or but in small quantity in England, and may be practised, are many, as Buckrams, Tapestry, Bustians, Cambrics, Canvas, Cables, Babies, cloth of Gold and Silver, Damask, Diaper, Mather, Paper, and diverse other things; all which may be made in time, Quia nemo nascitur artifex. And herein is to be considered, That all other nations being careful to maintain manufactures, cannot but take an offence, if any other nation will endeavour to do all, and to exclude others, which extremity enforceth another; One extremity enforceth another. as we have found by the enterprise of the late new company, for dressing and dying of all the white clothes in England, which caused other nations to make clothes of their own by the wools of other nations. For (as hath been noted) it is contrary to that common intercourse and mutual course of commodities, whereof some countries are destitute, and other countries do abound, thereby supplying the barrenness of the one, with the superfluities of the other, maintaining a friendly correspondence and familiarity. The Impresa, Sceptra foevent. Arts, may better be attributed to commonweals or popular governments, than unto Monarchies or Kingdoms, because experience proveth the same unto us, by the great quantities made of manufactures, and dispersed by way of trade; as we have noted by the laudable engrossing of them at Norenbourgh. To undersell commodities is very dangerous. The striving of making commodities, and to undersell one another, are dangerous, and prejudicial to both parties: for by their contention they hinder each other, and bring commodities to be less esteemed. This is a matter of great consequence for statesmen to be taken into their serious consideration; for as the Spaniard sayeth, Quien todo lo choir, todo lo pierde. Setting the fishing trade apart (which causeth all sorts of poor to employ their hands, though they want legs) let me recommend unto you, Bogging of Peate and Turf. the making and bogging of Peate and Turf, the rather for the want of wood, which England is like to have in progress of time, the woods being much decayed and enhanced in price, and Peate and Turf may be made serviceable to supply the uses of wood, and set an infinite number of people on work. As the making of Iron, and all other metals made in fowndries and fineries: the boiling of minerals, as Allome, Saltpetre, Copperas, and the like, the burning of Bricks and Tiles, the making of Glass, the refining of Sugar; besides the common use for brewing, baking, dying, and other professions, and every man consuming wood more or less in his house, besides sea-coal. Commodities by the bogging of Turf. And here I cannot omit to say something of the commodities which will redound hereby to the commonwealth, namely all boggy waist grounds and quagmires (unprofitable and dangerous for feeding of cattle and dear) shall be converted to profitable uses, in the making of Peate and Turf, and (in time) with the oft dreaning of the waters, turn to firm ground and fishponds. It will prevent the oft drowning of dear and cattles, venturing for some grass growing in bogs and quagmires, whereby also many of them become rotten by drinking the unwholesome red waters thereof. All the said grounds will be safer and pleasing for hunting and planting of woods, and the fishponds may be planted round about with Osiers & hazelwood for hoops, with diverse other profitable means, as in Holland: for the said turf is to be made according to their manner, avoiding the sulphurous smell, by two years drying of them before their use, and then they will in time be used by most men which now find the said turf to be offensive, as they did in the beginning when sea-coals came to be used in private men's houses: if this had been followed, the bogging of turf had been already pleasing and profitable. Next let us somewhat digress from Manufacture, to Apifacture, Apifacture of Honey & Wax. (and with Solomon the wise, send the sluggard to imitate the painful and laborious Bees) for the increase of Honey and Wax in England, Scotland and Ireland, and others of his Majesty's dominions: and let man's help secure this Apifacture, if it may be so called, as followeth. The means to increase Honey and Wax, doth properly consist in the preservation of Bees, and the making of convenient Skepes or Bee-hyves after a new invention: Namely, you may make your Skepes either with Straw or Wicker of two sorts, The Beehyve of two pieces. and to be of two pieces, to take off at the crown or near the midst of the Hive; that when they have gathered and filled up their house, and that the room is scant within then take away the upper half and clap on a board, or the bottom, or head of a pitch barrel or tar barrel, or the like having pitch on it, casting Malt meal, or Beane meal upon the same; and then daub it well with clay about the skirts, and setting on with your clay mixed with some salt; and when you have thus done, then raise it up below with so many wreythes, as you took above for the gelding of your Hives before, which is very needful to make the greater plenty and increase. For making your Skepes in this manner, the Honey may be taken at all times; but especially, when you do perceive by the lifting up of your Skepes, that your Bees are well provided for the Winter's provision, and that there be plenty of food yet to gather, than cap them. Take a strong wire, make it flat, and cut your combs in two, and then have a parchment in readiness to follow the wire, to keep a sunder the wax from cleaving, laying on your board with pitch and meal, as aforesaid. This to be done in Summer. Preservation of Bees for the Climate of Great Britain, etc. 1 IN Mareh your Bees do begin to breed, and then they begin to sit, let them at that time be served twice every week, because: 2 In April your Bees begin to hatch, serve them in hard and rugged weather, whereby they are hindered to be abroad. 3 In May is your Bee coming forth, look to serve them until Midmay. 4 In june are your Bees in their strength for casting, and then there is great plenty of Flowers and Dews for them to feed upon. 5 In july they are full of Honey, therefore cap your first swarms, and take up the rest for Honey that you mean to take up for that year, and cap as followeth. 6 In August is the most breed of Bees past, and you may cap likewise those you mean to keep over the year; I mean your old Stocks, for than they may forbear it. 7 In September the gathering of Bees is passed; stop close, and if there be any that is not cappable, leave them and stop close with clay and salt, and daub below with Cow dung as the manner is. 8 In October begin to look whether robbers have spoiled any or not; if it be so that they have, take away your Bees as in Hony time, and set up your Skepes with the combs whole, to be used as hereafter followeth. 9 In November stop up all holes, let none pass in or out; but if they prove weak, then take away your Bees from the combs, and keep them for the second and third swarms after. 10 In December house your Bees, if they stand cold: and in the North, house all. 11 In januarie turn up your Bees, and throw in wort, and water and honey twice or thrice, but let your water be warm. 12 In February set forth and serve all them that stand in need, with wort and honey, or honey and water, so it be warm: and then in March look for their breeding, as is before declared. No corrupt combs to be left, but the bad are to be taken forth in the Spring time (being in feeding) and when you have thrown in one pint of warm wort, and that they are struggling with the clammines of the wort; then may you very well take from them any thing that doth annoy them; which manner of dressing you may observe for many years during your Skepe, so long as they stand to work new again. Necessary observations concerning the Premises. FRom the midst of April, until the midst of May look diligently to thy Bees; for then are they near beginning to hatch, and do stand in need of most help, especially if the Spring be cold, The poison of Bees. and the wind holding any part of the North or East; whereby the tender buds or blossoms do perish, and the Bees are driven to the blossom of Apple trees, which is their utter overthrow and decay. Helps for weak Bees at all times. TAke water and honey mixed together made luke warm, and throw it amongst the combs, to the quantity of a pint at a time: or strong wort new run, or unboyled wort also luke warm, and the same two or three times at the most; and this for the first Swarm. For the second and third Swarm must be given in their Hives, to preserve that which they have gathered: Take Mulce, which is eight times so much water as honey, boiled to a quart or three pints; set the same with dishes in their sheeps, laying a few straws in the dish to keep them from drowning. Wort and figs boiled will serve also. The smoke (as it were the Tobacco of Bees) wherein they delight, is Cowes or Oxen dung, sophisticated with sweet wort; Bee's Tobacco. and the marrow of the Ox or Cow, being well dried: take the Sheep (which is diseased) & set it in a meal skiff or riddle, and then kindle a little fire with your Cow's dung, and set them over the smoke of the fire, and so smoke them by fits, scarce so long at every time as you can tell ten, and beware not to use this smoking too oft, but as necessity requireth and in gentle manner. The necessary use of honey and wax, made me to observe the premises, wishing, That in all Parishes of Great Britain and Ireland, all the Parsons and Vicars in Country Towns and Villages, were enjoined to keep Bees for their own benefit, and the general good; which they may do conveniently in the Churchyards, and other places of their Gardens, and some of their children or scholars may attend the same. The multiplying of Bees is easy without destroying them, Equivocal generation of Bees. and the creation of them is known to many, proceeding of the corruption of a Heifer, the flesh whereof is fit to engender Bees, as the flesh of Horses for Wasps, or that of man for Lice. And to abbreviate, I do refer the desirous Reader hereof to Master Hill his book of Husbandry, where he speaketh of Bees, with the commodity of Honey and Wax, and of their uses and several profits, collected out of the best learned Writers, as Plinius, Albertus, Varro, Columella, Palladius, Aristotle, Theophrastus, Cardanus, Guilielmus de Conchis, Agrippa, and others. Returning to manufacture, and to conclude this argument, many are the commodities to be made of Silk, Wool, Linen, Cotton, and other Stuffs; but vain is the conceit that would command and govern them all. But as we have declared before, in the Commutation or Barter, and the use of them, lieth the greatest consideration; and in the setting of people on work to avoid Idleness, the disturber of Commonweals, which causeth men to make Plantations and Discoveries of other Countries, whereof incidently we are now to handle something, seeing that Merchants have the managing thereof. CHAP. XLVI. Of Plantations of People, and new Discoveries. WHen the Commonwealth of the Empire of the Romans grew to be very populous, and men (idle) would have stirred more commotions: Plantation of Colonies of people. Then the Plantation of Colloneys of people in other Countries was most necessary to be practised, and means also to set the people on work, or to employ them in the wars, to govern the quieter at home. And at this day in Rome and many other places in Italy, if a man shall be found to live idle and want means, offer is made unto him to draw a lot for a sum of money, be it 30 40, 60, or a 100 ducats (as he may be reputed) to have that money, or to become an Officer in their Galleys, where other malefactors are confined to serve. Three Impostumes or the world. For unless the three Impostumes of the world, namely, Wars, Famine, and Pestilence, do purge that great Body; all Kingdoms and Countries become very populous, and men can hardly live in quiet, or without danger. Merchant's therefore seeking to discover new countries, are much to be commended and cherished, and their Customs are to be observed as a Law permanent, which hitherto have been herein kept unviolated. The unfatigable industry to make a complete Plantation in Virginia, and the Island of Bermudus, Plantation of Virginia and the Bermudus. (which hath been very chargeable) might have been fare better, if honest householders and families of some ability hath been induced thereunto by benefit and profit at the beginning, and mere poor people and vagabonds had not been admitted but afterwards. This inducement should have wrought in their Idea, an imaginary commonwealth, and aught to have been done in this manner following. Make choice of some honest Shoemakers likely to try adventures and to enrich themselves, know of them how many pair of Shoes they make yearly, whereby they live and their families, although victuals be dear. Then let them know, that four or five times so many shall be taken from them, and Leather be delivered them, if they will go and inhabit in Virginia, where they shall have houses and lands for themselves and their heirs for ever, and their work shall be taken from them, and they shall be duly paid, and that a certain number only shall have this privilege for certain years, and none others to be admitted, albeit the number of people do increase; whereby they may be sure of a certain beneficial living. And no doubt they will adventure that little they have to enrich their means and estate, and persuade their wives and servants to go with them, who may succeed them upon other good conditions. The like is to be done with Tailors, Bakers, Brewers, and other handicraftsmen, and (so conceiving a commonwealth within themselves) will resolve and encourage many that are of some means to accompany others of smaller means, whereby the base minded will be brought to be also painful and industrious in time, and the charge of the undertakers will be less, and more commodious to provide the voyages with facility. The like was to be put in practice by the Hollanders, in the Island of saint Thomas under the line: but the extremity of the heat of that Climate did bring a disorder, and the attempt was given over. It is more like to be established in other places: for albeit the wars in Europe will diminish the people, yet most countries are populous. Politicians although they are much mistaken in the number of parishes of several kingdoms, yet are they not in the number of the persons or inhabitants. France containing by late estimation about 27400 parishes, What people in France in numbers etc. esteemed in 44 hundreth thousand families, of five persons to a family (where in England six persons are accounted to be in a family) is 22 millions of persons. England containing 9725 parishes, 52 shires, and 26 cities, is esteemed in 28 hundreth thousand families of six persons, which maketh 16 millions, and 800 thousand persons. Scotland containing above 4000 parishes, is esteemed to have about 1500 thousand persons or families of six persons, is nine millions of persons. Ireland containing 5500 parishes, was esteemed not to contain the two third parts of Scotland, which is now much increased. The province of Flanders (one of the 17 Netherlands) esteemed to contain 140 thousand families, of five persons, is 700 thousand persons, which is more than the kingdom of Denmark being ten times more spacious. Now omitting to speak of other countries, Too populous is dangerous in Monarchies let us observe that in all popular governments, be it an Aristocracy, or Democracie, the means to make countries populous is thought reasonable, which in Monarchies is held to be dangerous. The concourse of people causeth the greater consumpsion of all things, and the revenues are great by Impositions, and it giveth life to traffic and commerce. The Plantation of Ulster (one of the four Provinces of Ireland) is now very great, and the means to set the people on work are to be taken in hand, which may be done by a Corporation of English and Irish Merchants there inhabiting, and English Merchants in England to vent the superfluities of the commodities of that kingdom, and to increase the manufacture of many needful commodities to be made there, the realm affording stuff and materials thereunto plenteously. And here I remember a good observation heretofore made touching the kingdom of Ireland, Why the same was not brought unto perfect obedience to their sovereign these 400 year●s, but under our most gracious king james? which is attributed to the mistaking of the place of the plantation of the first adventurers, that were deceived in their choice; Fit places for plantation to be considered of. for they sat down and erected their castles and habitations in the plains and open countries, where they found most fruitful and profitable lands, & turned the Irish into the woods and mountains, which, as they were proper places for Outlaws and Thiefs, so were they their natural castles and fortifications: thither they drove their preys and stealths; the lurked there, & waited to do evil and mischief; for these places they kept unknown, by making the ways and entries thereunto impassable; there ●hey kept their cattle, living by the milk of the cow, without husbandry or tillage; there they increased and multiplied unto infinite numbers by promiscuous generation among themselves; there they made their assemblies and conspiracies without discovery; but they discovered the weakness of the English dwelling in the open plains, and thereupon made their sallies and retraits with great advantage. Whereas on the other side, if the English had builded their castles and towns in those places of fastness, & had driven the Irish into the plains and open countries, where they might have had an eye and observation upon them, the Irish had been easily kept in order, and in short time reclaimed from their wildness, and would have used tillage, and by dwelling together in towneships learned mechanical Arts and Sciences. This discourse may seem strange to the Law of Merchants: but when Merchants undertake Plantations (as we see they do) no man will hold the same to be impertinent. The discovery of the Southern countries called Terra Australis. And for as much as diverse Mathematicians heretofore have according to those discoveries made their maps, and upon good probability affirmed and set down Terra Australis incognita, whereof discovery hath been made in the year 1615 by Ferdinand de Quir, a Spanish Captain; let us consider, that many other countries may also be found out: albeit this containeth a fifth part of the world, for (as he sayeth to Philip the third, late king of Spain) the length thereof is as great as all Europe, and Asia the less, unto the sea of Bachu, Persia, and all the Isles, as well of the Ocean, as of the Mediterranean sea, taking England and Island into this account; seated within Zona Torrida, and a great thereof reacheth unto the Equinoctial Circle, elevated unto them to 90 degrees above the Horizon, and in some places a little less. There they live without Kings or Laws, and know no neighbourhood either of Turks or Moors; and according to this manner of life (although they want Iron and Guns) they have not need of any thing. But they abound with many excellent commodities, whereof the Spaniards will in time make use, especially if they be more assured of Gold there to be found, as in part they are of Silver and Pearls; for these are the three most precious darlings that lie and are cherrished in the bosom of Nature. To say nothing of Spices and Drugs whereof they abound, with many other commodities, by the said Captain declared. And here we may not omit to remember, That it is not enough to discover countries, and leave them without plantation, or at the least neglect the use of them▪ if Merchants do give over their enterprises: But it is the part of Princes to see plantations made, True causes to make plantations. for two main reasons, That is, to convert the inhabitants or neighbours to Christianity; and, to the end such temporal blessings may be enjoyed as the land and seas do afford: most requisite to be done in the Island of New foundland, bordering upon the coast of America, from which it is divided by the sea, so far distant as England is from the nearest part of France, and lieth between 46 and 53 degrees North latitude, as Captain Richard Whitbourne hath very well declared in his discovery, affirming the spaciousness thereof to be almost as Ireland: and therein he hath noted many disorderly courses committed by some Traders and fishing Merchants, in setting forth to the Newfoundland, which are worthy the observation and knowledge of Merchants, because that the like errors may not be committed in other voyages, which by this good advice may be prevented or reform. It is well known, sayeth he, Worthy considerations for plantation for the fishing trade. That they which adventure to Newfoundland a fishing, begin to dress and provide their ships ready commonly in the months of December, januarie, and February, and are ready to set forth at sea in those voyages near the end of February, being commonly the foulest time in the year: and thus they do, striving to be there first in a Harbour to obtain the name of Admiral that year, and so to have the chiefest place to make their fish on, where they may do it with greatest ease, and have the choice of diverse necessaries in the Harbours. And thus by their hasting thither, oftentimes there comes not only dangers to themselves, but also great mischief and losses to many others which arrive there after the first, as it may by that which follows truly appear. For by the hasting forth (as now they use) they greatly endanger themselves, being many times beaten with rough and stormy winds, and oftentimes they are thereby forced to return back with great loss both of men's lives and goods, as it is well known; so that to get the superiority to arrive there first in an Harbour, they will bear such an overpress sail, and in so desperate a manner, as there are no true understanding seamen that use the like to any place of the world. For albeit when the fogs are thick, and the nights dark, that sometimes they cannot discern the length of three ships in the way before them, and the ye often threatening much peril unto them; yet on runs the ship amain so fast as possibly she may, when commonly most part of the company are fast a sleep, even with extreme hazard of their lives. Thus many times both ships and men have been cast away suddenly, to the utter undoing of many adventurers and families. And also this untimely setting forth consumeth a great quantity of victuals that might be saved to better purpose, and it forceth them to carry and recarry many more men in every ship (every voyage) than they need, if they once take a fit course. Such Stages and Houses that the first arrivers find standing in any Harbours (wherein men set diverse necessaries, and also salt their fish) some men have used to pull down, or taken their pleasures of them: by which unfit disorders of some first arrivers there yearly, those which arrive after them are sometimes twenty days and more, to provide boards and timber to fit their boats for fishing, and other necessary rooms to salt and dry their fish on, whereby much time is lost, and victuals consumed to no purpose, and thereby also the voyages of the aftercommers are often greatly hindered and prolonged, to the general hurt of the commonwealth: and the mariners themselves which commit those great abuses are thereby also much wronged, as themselves may conceive. Wherefore if such as henceforth adventure to that country, take some better course in that trade of fishing than heretofore they have used, they shall find the greater safety of their adventures, and much good thereby. Penefits arising by reformation about fishing. For whereas heretofore they have used to make ready their ships to sail in those voyages in such unseasonable time of the year, whereby they often receive such hindrances and losses, they need not then to go in the said voyage until the five and twentieth day of March, which is a fit time of the year to put forth to sea from our coast to that country, the Winter storms beginning then to cease: and then any such ship which carries in her thirty men in every voyage, may well leave six men there behind them, or more all the Winter season, until the ships return to them again; and these six men's victuals will be saved and serve to better use, and thereby also cut off that months setting forth in those voyages so soon in the year as now men use to do; and then the victuals for that month (which is so vainly, and with such great danger consumed) may well maintain those men which are left in the country all the Winter season, till the ships return to them again, with a very small addition to it. Convenient privileges to be granted. And it may be thought reasonable, That men which will undertake to settle people in Newfoundland, shall have this privilege, that in case he leave there a fifth person (of such as he carries thither in his fishing voyage) to inhabit, whereby those men so left might keep a certain place continually for their fishing and drying of it, whensoever their Ship arriveth thither: then would all such as leave people there, build strong and necessary rooms for all purposes, and then in some necessary houses and rooms they may put their fish when it is dried, which fish now standeth after such time it is dried, until it is shipped (which is commonly above two months) in great heaps packed up uncovered in all the heat and rain that falleth, whereby great abundance of good fish is spoiled yearly, and cast away for want of such necessary rooms. And for the want of such fit houses some men's voyages have been overthrown; and then a mean place to make fish on will be made more commodious than the best place is now, that men so dangerously and desperately run for every year. And thus every man's fishing Pinnaces may be preserved in such perfect readiness, against his Ship shall yearly arrive there again; which Pinnaces are now often lost, and sometimes torn in pieces by the first arrivers there, very disorderly: and if such Pinnaces, Stages, and Houses may be maintained and kept in such readiness yearly, it would be the most pleasant, profitable and commodious trade of fishing that is at this time in any part of the world. For then every Ships company might fall to fishing the very next or second day after their arrival, whereas now it is twenty days before they are fitted; and then such Ships should not need so soon to hast away from England by one month, at the least men's lives might be thereby much the better saved, less victuals wasted, and many dangers prevented. And so every Ship in every such voyage, may gain quickly one hundred pounds, that usually carry in her but twenty men more than now they do, by leaving of four men there of twenty. And as the proportion before named holds, for leaving six men in Newfoundland of thirty; so the allowing of men to be made proportionably fro every Ship, An easy way for plantation. will soon raise many people to be settled in every harbour where our Nation useth to fish, and in other harbours in other Countries in like manner, some Ships by this course may then quickly gain two hundred pound, and some 300 ll and more, according to their greatness, more than they do yearly now; and those men so left will manure land for Corn, saw boards, and fit timber to be transported from thence, and search out for diverse commodities in the country, which as yet lie undiscovered: and by such means the land will be in little time fitly peopled with diverse poor handycrafts men, that may be so commodiously carried thither with their wives: and that no man else should appropriate to himself any such certain place, and commodity for his fishing voyage, except he will in such manner settle a fifth part of his company there to live. And then such adventurers thither will carefully provide yearly for such as they leave there, not only for bread and victuals, but likewise for all necessary tools fit for any kind of husbandry. And the charge thereof will yearly repay itself with the benefit of their labours that shall be so left there, with great advantage. By this means will shipping increase, men be employed, and two voyages may be made yearly, and much victual saved: for the allowance of victual to maintain six men to carry them and recarrie them outwards and homewards, is six Hogsheads of Beer, and six hundred weight of Bread, besides Beef and other provision: which men as they sail too and fro (as now they use) do little good or any service at all, but pester the Ship in which they are, with their Bread, Beer, Water, Wood, Victual, Fish, Chests, and diverse other trumperies that every such six men do cumber the Ship withal yearly from thence, which men are to be accounted unnecessary persons returning yearly from thence. But being left in the country in manner aforesaid, the places of these Ships which by them should have been preoccupied, may be filled up yearly with good fish, and many beneficial commodities; and the men so left in the country, will not only be free from the perils of the Seas by not returning yearly, but will live there very pleasantly, and (if they be industrious people) gain twice as much in the absence of the Ships, more than twelve men shall be able to benefit their masters that are kept upon Farms, The fertility of Newfoundland. and that yearly, for the fertility of the soil is admirable, replenished with several wholesome fruits, herbs, flowers, and corn, yielding great increase; the store of Deer, of Land-fowle and Waterfowl is rare and of great consequence; as also many sorts of timber there growing, with great hope of Mines, and making of Iron and Pitch. Furs may be procured not only by taking the beasts, but by settling (in process of time) a traffic with the Savages for their Furs of Beaver, martin's, Seale, Otters, & many other things. Finally, the rocks and mountains are good for seeds, roots, and vines; and the Climate is temperate, seeing the greatest part thereof lieth above three degrees nearer to the South than any part of England doth; which hath also moved me to write the said commendations of Newfoundland, by the affirmation made unto me by the said Captain, to the end all Merchants might further this intended Plantation, whereby the fishing trade may be much advanced, and the fish itself become more vendible, which shall be prepared by the inhabitants of the persons to be left there. For it is well approved by all those that yearly fish for Herrings, Salt boiled to preserve fish. Cod and Ling, that Salt orderly boiled, doth much better preserve fish, and keepeth more delightfuller in taste, and better for man's body, than that fish which is preserved with any other kind of Salt, as in now done for want of convenient houses to boil & prepare the same, yet may be done by the said Plantation. But this being a matter depending thereupon, I am now to entreat of the fishing trade more in particular in the next Chapter, ending thus concerning Plantations, whereby Princes dominions are enlarged for their honour and benefit also. CHAP. XLVII. Of the Fishing Trade. SOme men may wonder, and not without just cause, That this most important argument of Fishing hath not been handled hitherto. But in truth my meaning was not to have touched the same, because of the neglect of it in the Kingdoms of Great Britain, and Ireland, where the same is abandoned unto other Nations: howbeit upon better consideration (calling many things to mind) I found that it would have been a great error to pass over the same with silence, and to omit the Customs of Merchants therein, as the fundamental cause of the traffic and trade of diverse Nations, whose great wealth hath proceeded from the same. For it hath pleased almighty God, to extend his blessings herein, more than in all other things created: For when God said to the earth, Let it bring forth Trees and Plants: Gen. 1.2 c. 22 ● and for Fowls created out of the Sea, Let the Fowl fly in the open firmament: and of Cattle, Let the earth bring forth the living thing according to his kind: He saith of Fishes in a peculiar phrase, Let the waters bring forth in abundance, every thing that hath life; and willed them to increase and multiply and to fill the waters, which was the cause that the Prophet David, being ravished with admiration, saith; O Lord, how manifold are thy works, Psal. 104. in wisdom hast thou made them all, and the earth is full of thy riches: so is the great and wide sea also, wherein are things creeping innumerable, both small and great beasts. The earth is full, but in the sea are innumerable. Of the beasts of the earth the learned have observed, Scaliger, Bodin, Ca●dan, and others. That there be scarce 120 several kinds, and not much more of the fowl●s of the air: but no man can reckon the several kinds of the creatures of the seas, or can number any one kind. This aught to stir us up to establish the fishing trade, especially for Herrings, Cod, and Ling, which took his original from us: for it is not much above one hundreth years since that one Violet Stephens, Original of the fishing Trade. and other discontented Fishmongers departed the Realm of England, and went into Holland, to the Town of Enchusen, where they procured the inhabitants to fish for them in the seas, streams, and dominions of Great Britain: which inhabitants (upon the decease of the said Englishmen) took the whole trade to themselves, which afterwards hath been dispersed into many other Towns, whereby the trade is so increased, that Holland and Zealand have above 2000 Busses or Fishing Ships, which do make ordinarily two or three voyages yearly, albeit their country is remote from our Seas; and England, Scotland and Ireland have the fishing (as it were) at their doors. And such is the blessing of almighty God, that above six hundreth thousand Lasts of fish are taken yearly in the dominions of the King of Great Britain only, ommitting the quantity of fish taken in Denmark Seas, Russia, Newfoundland, Spain, Italy, and other dominions. And here I am to make a little abridgement of the collection of one Tobias Gentleman, a Fisherman, who made a Treatise touching the same, entitled England's way to win wealth, and to employ Ships and Mariners, That fishing is lawful, ●easible, and profitable. proving first, The lawfulness of it by his Majesty's subjects of Great Britain; secondly, How feasible it is for them by the exemplary actions of other Nations, that have nothing growing in their own land for that use, but are constrained to fetch all out of other countries; lastly, That the trade of fishing is profitable, by the success seen with the Hollanders being rich and opulent, notwithstanding their long wars, and which themselves do call to be their chiefest trade and principal Gold-mine, whereby many thousands of their people of trades and occupations are set on work, maintained, and do prosper, Proclamation of the States of the united Provinces. as may be seen by their Proclamation annexed to the said Treatise. Hereupon he showeth, That about Mid-may they make ready their Busses, and Fisher-fleetes, and by the first of june (their Style) they are seen to sail out of the Maze, Texell, and the Vly, a thousand sail together for to catch Herrings in the North Seas, being most of them ships of 120, or 100 tons, and the other 60 tons or thereabouts; having in them 24 men, and some 16, and 20 in every ship; & they continue their course Northwest and by North, until they arrive at the Isle of Shotland, The situation of Shotland Isle. which is the dominion of the king of great Britain, and the greatest Island of the Orcadeses, & lieth in the height of 60 degrees of Northerly latitude. And by the 14 day of june (which is by their law a time limited to lay their nets) they begin to fish, & do never leave the skoales of herrings, but come along amongst them, following 500 miles in length, lading their ships twice or thrice before they come to Yarmouth, sending them away by the Merchant's ships that send them victuals, barrels, and more salt and nets if they need any; which ships are called Yagers, that is to say Hunters or Doggerbotes, and these ships docarry them, and sell them in the East countries, some to Riga and Revel, some to the narve, Russia, Places to sell Herrings. Stockholme, and all Poland, Prussia, Pomerland, Lituania, Statin, Lubek, and Denmark; returning Hemp, Flax, Cordage, Cables, Iron, Corn, Soapashes, Wax, Wainscot, Clapboord, Pitch, Tar, Deals, Hoops, and other commodities, with plenty of money; and for France, they send for Bordeaux, Rochel, Nantes, Morliaix, and San Mallous, Cane in Normandy, Rouen, Paris, Amiens, and all Picardy, and Calais, with the Low-countries of the Archduke of Austria, reconciled with the king of Spain, returning other commodities and moneys for the provenue of their fish. For by their laws all those▪ Herrings that they do catch in Yarnmouth seas, from Bartholomew tide until saint Andrew (which are rope-sicke) they may not bring home into Holland; and these they sell unto Yarnmouth men for ready money. Their fishing for Cod and ling continually is done with smaller ships (of 40 tun burden) called Pinks and Welboats, and all this is done with so good order and provision, Good orders in the fishing trade. that by night and day all is supplied, and fish taken off instantly. And of mine own knowledge, they are so constant in their fishing, that they are contented to have one good year for fishing in seven years. All fishermen are provided for, and their wives at home cannot want; for in their care, they may be compared to joseph in Egypt, providing for the time of famine. They have beside all this (continually in the season) another fleet of Fishermen (called Flyboats) which are in number some two hundreth or more, and these be at the North-East of Shotland, having small boats with them, called Cobles, and by means of them ling are taken in great abundance, which they do not barrel, but splet and salt them in the ships bulk. To say nothing of fresh Fish, and other pretty observations of the said Tobias Gentleman, let us note the commodious fisher-townes of England, as Colchester, Harwich, Orford, Alborough, Donwich, Commodious towns for fishing in England. Walderswike, Sold, Yarnmouth, Blackney, Wells, Linne, Boston, and Hull by him named; whereunto I may add Scarborough, Hartlepole, Whitby, Marske, Stockton, Gysborough, Newcastle, and other places in the North. And it is to be much admired, that this trade hath been so long neglected: howbeit some are of opinion, That it would hinder much to the trade of cloth, if fishing were entertained, especially in the return of our commodities, and that the privileges granted to diverse societies (as the Merchant's Adventurers, East-land, The first objection to the fishing trade. and Russia Merchants) should be infringed thereby, and so both trades cannot subsist together. Others say, The second objection. That other nations are more painful and industrious than we can be, and have more skill in the cutting, packing, and salting of the Fish; and which is more, they can send away their Fish (and pay no freight) by their ships going (otherwise) empty for corn and salt; for they pay but four shillings for a Last, which is drinking money. And the Hamborgers having heretofore imitated the Hollanders to fish with Buffs for Herrings after 5 or 6 year's trial, have been compelled to abandon the fishing, and suffer their ships to lie by the rotting, because they found a loss, and that the Hollander did out sell them, having the better and cheaper fish; and the like would befall England, as some have already found. To these two objections, The one being Domestic, and the other Foreign, I make this answer; which is referred to the judicious reader. Answer to the first. That the trade of cloth should be hindered by the fishing trade, is not probable, being a distinct commodity which serveth for the belly, and the other for the back, and both are sold by us and other nations in one more places, and we both make our returns homewards by commodities, money and exchange for moneys by Bills, so that the difference of the persons maketh not any solid argument: for if we return commodities for commodities, and they return moneys, we may return both the one and the other, having means more than sufficient to maintain the trades, considering the great sums of money delivered at interest, although the money in specie be wanting, which by these means would be supplied. And concerning the privileges granted to several societies, it will be easy to reconcile them by good orders to be observed in the fishing trade; wherein all men of several companies may participate, and the general good is always to be preferred before the particular, and that society which is against the common good ought not to be admitted or continued for any private respect. Answer. To the second objection, That other nations are more painful and industrious, and have more skill in the cutting, salting, and packing of fish, and pay no freight for the transportation of their fish: Suppose it be so as you say for the present, yet you cannot deny but that the same may be amended by use and custom, seeing our people can endure all climates and hardiness as well as others, and by good orders and gain may be alured to undertake labour and pains, when want breedeth industry, and gain is like a second life. The managing to make fish more merchantable and vendible, may be learned of others in time, and for wages men will be procured that shall teach others; we know that the proverb is true, omne principium grave. The like may be said touching the freight of shipping, which in process of time may be had in the same manner, if the coast Towns of England were made and appropriated to be the Warehouses or Megasins for the gross commodities of those countries where the Herrings are sold: For the situation of England is fare more commodious to send away the said commodities for all other countries, and in diverse places at all times and seasons of the year, when their countries are frozen for many months together, or want many times wind and weather to perform their voyages, which was the cause that the Hamburgers could not conveniently continue their fishing trade, as is alleged. Having answered sufficiently (as I hope) the two main objections against the fishing trade, let us now examine the benefit of it, by the calculation made by the said gentleman. Now to show truly, saith he, what the charge of a Buss will be, with all her furniture, as Masts, The whole charge of a Buss. Sails, Anchors, Cables, and with all her fisher's implements and appurtenances at the first provided all new, is a great charge, she being between 30 and 40 Last, will cost five hundreth pounds, and may continue 20 years with small cost and reparations: but the ye●rely slight and wear of her tackle and war-ropes, with her nets, will cost 80 pounds. And the whole charge for the keeping of her at sea, for the whole Summer, or three voyages, for the filling of a hundred Last of cask or barrels. 100 Last of barrels— 72 ll For salt 4 months— 88 ll Beer 4 months— 42 ll For bread 4 months— 21 ll Bacon and butter— 18 ll For pease and billets— 6 ll For men's wages 4 months— 88 ll 335 ll A hundred Last of barrels filled and sold at 10 pounds the Last, is 1000 ll 0 0 The charge deducted 335 0 0 Gotten 665 0 0 Here (saith he) plainly appeareth, The profit of one Buss. that there is gotten 665 pounds in one Summer; whereof, if that you do deduct one hundreth pounds for the wearing of the ship, and the reparations of her nets against the next Summer, yet still there is 565 ll remaining for clear gains by one b●sse in one year, rating the Herrings sold but at ten pound the Last, which is commonly sold by the Hollanders at Dansk for fifteen and twenty pounds. The charge of a Pink of eighteen or twenty Last, Of ● Pink. making fifteen Last of barrel fish, he accounted accordingly to cost 260 ll, and the provision and wages to be for two months 57 ll, and the Last sold at 14 ll 8 ss, or 24 ss the barrel, there is resting gain for fifteen Last of barrel fish, 158 ll. He hath noted moreover, that besides the Hollanders, the French men of Picardy have also a hundreth sail of fishermen only for Herrings, on his majesty's seas every year in the Summer season, and they be almost like unto Busses, but they have not any gagers to come unto them: but they do lad themselves, and return home twice every year, and find great profit by their making of two voyages yearly. And hereupon he concludeth with an exhortation to all noble, Exhortation for the fishing trade. worshipful, and wealthy subjects, to put too their adventuring and helping hands for the speedy launching and floating forward of this great good commonwealth business, for the strengthening of his majesty's dominions with two principal pillars, which is, with plenty of coin brought in for fish and Herrings from foreign nations, and also for the increasing of mariners against all foreign invasions, and for the bettering of trades, and setting of thousands of poor and idle people on work. But now returning to the lawfulness of fishing, wherein we are to observe, That albeit hunting, hawking, and fishing be of one kind, as subject to a like law and liberty, because that any wild beast, fowl or fish being once taken by any man, commonly it becometh his own proper by the law of nations; yet there is a difference between these three: and although hunting and hawking be almost every where lawful, yet fishing is forbidden in other men's ponds, stankes, and lakes, as comparable unto theft. Statute Laws of England, Scotland, and Ireland, concerning fishing. THe several Statutes of these kingdoms have established good orders concerning the fishing trade, whereunto relation may be had, containing in substance, the ordinances to build ships and boats, and appointing of certain times for fishing, and then only to fish, upon pains not only of forfeitures and fines, but death also, according to the manner of offence made, and contempt of those decrees and ordinances. Prohibiting (for the increase of fishes) the making, setting and using of crows, yarres, dams, ditches, tramlets, parkings, dyking in any waters where the sea ebbs and flows: and albeit some are permitted to lay nets, and to make wears, yet must he keep the Saturdays slop, that is, to lift the same from Saturday in the afternoon until Monday. And he is to make each space or mesh of his nets three inches wide, except for taking of Smelts, and other fish which will never be bigger, and the same is to be set upon the water, that the midstreame may have the space of six foot wide, upon pain of five pounds. The privileges of fishers. And concerning the fisher's safety and privileges, it is provided, That all ships sailing to catch Herrings, shall (during the taking of them) let down sail after daylight is past, and let their anchor fall, and keep watch with lantern and light until the day light appear, lest otherwise the poor fishers should be overrun, and their nets broken. It is also provided, That fishers shall not hurt one another, and the measure of their nets are limited in length and breadth: and also that no drag-net be set before March, nor upon deeper water than fourteen fathom. Also that they shall be honest and true, and not lie to their neighbours, being asked concerning the length and depth of their ropes or tewes when they are in driving; neither shall they wittingly and willingly suffer their tewes to flit and run over one another, under pain of ten pounds for every offence. That till Sun set on Sunday, no man lay nor hale nets or great lines, or exercise any labour, upon pain as aforesaid. And for the encouraging of Fishers in the North and West Isles of Scotland, there is a Statute prohibiting all exactions to be taken of them, but only the King's Custom, upon pain to be found to be a manifest oppressor. And Concerning Fishers and dealers or traffickers with fishes, it is also ordained, That not only all fish slain and taken near to the coast of Scotland be brought to the market places, Laws of Scotland for fishes taken. where the taker dwelleth, or the nearest place thereunto, but also all the fishes taken in the North, or West Isles, or Forts, to be brought directly to the towns where the Fishers dwell, to the end the country be first served and the fish offered to the market places, from which none may carry them to pack and pile, but only between the hours of eleven and two in the afternoon, upon pain of forfeiture of the same. In which markets it is lawful to the Provost and Bailifeses to set down prices, and to compel the Packer and Piler to sell again for the need of the subjects; which being done, they may transport the remainder where they will: and if they commit any contempt, than their fish is forfeited, two parts to the King, and the third to the Magistrate. In like manner concerning the barrelling of fishes, Barrelling of fishes. it is ordained that the measures prescribed of old sh●ll be kept, namely, each barrel of Herrings, or of white fish, to be of twelve gallons; and the barrel of Salmon of fourteen gallons, according to the measure of Hamborough, upon pain of forfeiture, and five pounds to be levied from the Cooper; and therefore hoop irons to be made in each town for the trial and gauging thereof. All which concerneth the Law of Merchants, & the particular knowledge of every one of them. Let us now remember in this place the fishing of Newfoundland, The fishing of Newfoundland. and the Whale fishing, with the profit and commodities of the same, as they are observed by the aforesaid Captain Whitebourne, who affirmed upon his own knowledge, That the French Biscaine▪ and Portugals, can make two voyages yearly to Newfoundland, with 400 sail of ships, and get thereby an incredible wealth; besides English ships, whereof he saith, That in the year 1615, there was 250 ●ayle of ships great and small, the burdens and tonnage he esteemed to be one with another 15000 tons, at 60 tunniss, and 20 men and boys to every one; therein were employed above 5000 persons, by whose means there was taken by every ship, above six score thousand fish, and five tons of Train oil, which being brought into England, France, or Spain, and sold after the rate of four pounds for every thousand of fish, and 120 fishes to the hundred, will amount to six score thousand pounds, which is not above one penny a fish. The Train oil amounting to 1250 tons, at 12 ll, amounted to 15000 pounds; so the total sale was 135 thousand pounds, omitting to reckon the overprices, which were made and gotten by the sale thereof in foreign countries. The consideration (that all this and the like wealth procured by fishing, is done by the labour and industry of men, with exportation of money and exchange, or other commodities to be commuted or bartered for them) is worthy the observation, Necessary points to be considered touching the fishing trade. and by the trade of it moneys are to be had plenteously, and all foreign commodities also, to the enriching of Commonweals, where many numbers of people are set on work and relieved; as Bakers, Brewers, Cooper's, Shipwreights, and Carpenters, smith's, Netmakers, Rope-makers, Line-makers, Hookemakers, Pullymakers, and many other trades to make the necessary provision of the fishing voyages, wherein the lame, impotent, & all poor people may have employment for their maintenance. Greene-land fishing Touching the Whale fishing, especially in Greene-land, for the making of Train oil; the same is much augmented by several Nations, since that the Biscayners and Bayonese have taught the manner of taking of them, casting harping irons into their unwieldy great bodies, when they are on shore for want of water, otherwise very nimble in the Seas: For they have a great feeling, and their flesh is viscosite or oily, The manner of Whale catching. apt for swimming, and as soon as the harping irons have strucken them, they run towards the bottom above a hundreth fathoms deep, as the lines (which are fastened thereunto) will give way. So that sometimes it will be above two hours before they come up (being ordinarily above twenty foot in length) and then being hoist up to the stern of the ship, the flesh is pared off, and swimmeth upon the seas, and the rump of the body is let fall again, and then the flesh boiled, and pressed, maketh Train oil, which yields good benefit, if the voyage be not overcharged by expenses. For prevention whereof, let us note the proportion for the victualling of fifty men for eight months, A proportion for victualling of ships. of a ship of 200 tons, and cast Merchants or Fishermen account accordingly, for the greater or lesser number of persons, or the longer or shorter time of victualling, more or less also in price, 50 men are 12 ½ Messes, being four to a mess by distribution. ll. ss. d. Biscuit a pound ꝑ day to a man, is 120 quintals, at 9 ss 47 16 0 Cider and Beer, one hogshead a day, with cask iron bound, 12 tuns at 50 ss, and 48 tuns cask, at 20 ss, more 25 tuns of Beer, at 50 ss, and 35 tuns Cider, at 50 ss is 180 0 0 Water cask new, and iron bound 10 tuns, at 45 ss 22 10 0 Beef two pound ꝑ day, is 100 ll weight for three days a week, is in all 96 days, and 8500 and 3 quarters, at 26 ss the hundreth, is 111 0 0 Cask iron bound, 500 weight in a Hogshead repacked, and Salt 12 0 0 6000 Newfoundland fish, at 4 ll 10 ss with the cask, is 27 0 0 24 Bushels of Pease, 20 bushels of Oatmeal, two barrels of Oil 14 12 0 Butter six firkins, Cheese ½ ll a day, Aquavite and vinegar 60 0 0 Candles, Platters, Surgeons Chests, etc. 65 0 0 539 18 0 which said sum of 539 ll 18 0, amounteth unto 28 ss a man for every month, besides the ships fraight and men's wages, which may be agreed upon diversely. And commonly the Company is permitted to have one third, the Owners of the ship one third, and the Merchant or Merchandise one third: all other incident charges to be borne accordingly between them, whereof Indentures of covenants are made. Having reserved to entreat of this important business of Fishing, in the end of this first Part of Lex Mercatoria, concerning commodities, which are compared to the Body of Traffic, together with the Sea-lawes observed therein, with all other Customs of Commerce: Let us now proceed to the Second Part, touching Moneys, being the Soul of Traffic, which in times past were noted to be raised by the fishing trade (now so much neglected) appertaining to the Kingdoms of Great Britain, and Ireland, as hath been showed even by original Antiquity. The correspondence and long intercourse between the Society of Goldsmiths and Fishmongers alludeth hereunto: For Saint Dunstane the Bishop, The allusion of Saint Dunstone. termed to be the Patron of the Company of Goldsmiths, had no other Elixir or Philosopher's stone, than the Gold and Silver, which by the benefit of fishing was obtained, whereby the Kingdom's Plate and Bullion was procured. For the advancement of which fishing Trade, he did advice, That three fishing days ought to be kept every week, which caused also more abstinence: and hence the Proverb came, That Saint Dunstane took the Devil by the nose with his pinchers. Which Custom, if it were better observed with us, would prove very beneficial to the State and Commonwealth. * ⁎ * THE SECOND PART OF LEX MERCATORIA, or the Ancient Law-Merchant; concerning Moneys, compared to the Soul of TRAFFIC and COMMERCE. We have already compared the three Simples or Essential parts of Traffic, namely Commodities, Money, and Exchange of Moneys, unto the Body, Soul, and Spirit: And in our first p●rt of Lex Mercatoria, treated of Commodities, as the Body of Traffic, with the dependences thereupon, as being properly the causes of Commerce, with their Effects, Adjuncts, and Accidents: which method we are now also to observe in this second part of the Law-Merchant, concerning Moneys, compared to the Soul, which infuseth life unto Traffic by the means of Equality and Equity, preventing advantage between Buyers and Sellers. And because Money is made of Metals, whereof we have not spoken in the Chapter of the Commodities whereby Commerce is maintained, here we are to begin with the very original of Metals and Mines, as a matter worthy the knowledge of Merchants and others. First we find, That when commodities began much to abound in the world, all manner of mettle, as Gold, Silver, Copper, Tin, Led and Iron grew into greater estimation, as being fit and more durable for preservation; and so the purest and finest Mettle most esteemed. At which time the riches of men was notwithstanding described to consist of cattle, commodities, and other movables: Pecu●ia, non Pecu●a●ia. and there was a commutation of commodities, as hath been declared, which was found to be very cumbersome, The beginning of Moneys. and did require much carriage of wares up and down from one country unto another; by reason whereof Money was devised to be coined, to be the rule and square whereby all other things should receive estimation and price, and (as it were) become a measure whereby the price of all things might be set, Publica Mensura. to maintain a certain evenhood or equality in buying and selling; and the same to have his standing valuation only by public authority, to the end that all things might equally pass by trade from one man to another. Denomination of Money. Concerning the denomination of Money, it is derived of Moneta, which proceedeth a monendo, to show you the name of the Prince; vel nummi nota, and consequently the price of the piece of coin by his authority made, stamped, and valued. Pecus fuit Pecuniae fundamentum. Pecunia is derived a Pecude, of Cattles, as of Sheep and Oxen, the figure whereof was coined thereupon, Nummus, a numerando, vel nomine, of the name of the Prince stamped upon it; and also so called, Carolus Guildrens or Floren; so a Ducat of Ducatus, the name of a Duke. And in times past being called Stipendium, was a stipe & pendo, before the same was coined with a stamp, but made and weighed, being silver, as the Cycle of the Hebrews. The Romans in times past used copper Moneys, calling their Exchequer Aerarium. So in Germany it is called Argentarium of the Silver, and being kept at Strasbourgh, that city is called Argentina. The first Silver moneys coined was the 484 year of the foundation of Rome; And the coins of Gold was sixty and two years after that. Since the foundation of Rome until the year of 1622 are 2373 years. Sterling Standard altered in the valuation. The sterling Standard of the Moneys of England, was first coined at a place, so called, by Osbright a Saxon King of England, above seu●n hundreth years since; at which time an ounce of Silver was divided into twenty pieces, and so esteemed twenty pence (as who should say) so many pieces, which so continued by denomination until King Henry the sixth his time, who in regard of the inhancing of Moneys in foreign parts) valued the same at thirty pence. But there was more pieces made out of the said ounce, and the former pieces went for three half pence until the time of King Edward the fourth, and then they were currant for two pence, and the said King did value the said ounce at forty pence; until King Henry the eight did value the ounce of sterling Silver at forty and five pence, and so continued until King Edward the sixth, and until Queen Elizabeth her time, and then the very same piece, or the same penny was valued at three pence, and so did all three pences (coined by the said Queen) weigh but a penny weight, and the six pence two penny weight, and accordingly the shilling and other pieces, which made the ounce to be valued at sixty pence or five shillings; whereof twelve ounces make the pound Troy weight, The pound Troy divided by weight. which remained divided nevertheless in twenty penny weight; for the said ounce being still the same in weight did retain the same name, and four and twenty grains also for every penny weight; and according to the said pound weight is the finesse of Silver also divided. For if it be all pure Silver without any Copper, called Allay, it is justly called twelve ounces fine, because that pound weighed twelve ounces, and hath no mixture in it; The pound of Silver divided in finesse. and so every ounce is consequently twenty penny weight in finesse, and every penny weight is twenty and four grains in finesse. The finesse of Gold is twenty and four Carrats, Finesse of Gold. and every Carrat is four grains in finesse, and was heretofore accounted two Carrats for an ounce of Silver. And all moneys of Gold and Silver do participate of this finesse, according to their substance, which maketh their standards thereafter, whereby the sterling standard containeth eleven ounces and two penny weight of fine Silver, and eighteen penny weight of Copper: and our Angel Gold holdeth twenty and three Carrats, three grains and one half, and half a grain of Alloy, as shall be hereafter more amply declared, together with the proportion between Gold and Silver. Let us now speak of the properties of Moneys in the course of Traffic, and make the effects thereof apparent. The propertie● of Moneys. The first property is, That plenty of Money maketh generally all things dear, and scarcity of Money maketh generally things good cheap: whereas particularly commodities are also dear or good cheap, according to plenty or scarcity of the commodities themselves, and the use of them. Money then (as the Blood in the body) containeth the Soul which infuseth life; for if Money be wanting, Traffic doth decrease, although commodities be abundant and good cheap: and on the contrary, if Moneys be plentiful, Commerce increaseth, although commodities be scarce, and the price thereof is thereby more advanced. Nay by Money a trade is made for the employment of it both at home and abroad: For those countries (where things are good cheap) are destitute of trade, and want Moneys; and although things for the belly are good cheap, there is less benefit to be made by Merchants. According to plenty or scarcity of Money then, generally commodities become dear or good cheap, and so it came to pass of late years, that every thing is enhanced in price by the abundance of Bullion and Moneys (which came from the West-Indies into Europe) which like unto an Ocean, The Ocean of Moneys. hath divided her course into severell branches through all countries, and the Money itself being altered by valuation as aforesaid, caused the measure to be made lesser, whereby the number did increase to make up the tale, being augmented by denomination from twenty to sixty, or of those latter years from forty to sixty. So that plenty of Money concurring herein made every thing dearer, and especially the foreign commodities, as we have noted before, which caused some men to be of opinion, That our Moneys should be more enhanced (as it were) striving therein to exceed other nations, wherein they are fare from the mark, Alteration of M●ney altereth the price of things. for if that were done, not only all the foreign commodities would be dearer, but also our home commodities, howbeit only in name. The like would happen, if Moneys were (by allay of Copper) embased, as experience hath proved in the time of King Henry the eight, and of latter years in the realm of Ireland: so that we see the Proverb to be true, That the unknown disease putteth out the Physician's eye. The plenty of Money required, must be, not with a consideration that we have (or may seem to have) more moneys than in times past, but according to the present great quantity and abundance of Monies now found in all countries, which (in effect) have more proportionable part thereof than England hath. Neither was Money more plentiful when an ounce of Silver was valued but twenty pence, (judging of Money as we do of Commodities, either dear or good cheap according to the price) for Money must be still the measure, and overruleth the course of Commodities: Howbeit Exchange of Moneys, is predominant over Commodities and Moneys, as shall be declared hereafter. The second property of Money (proceeding from the operation of Usury devised thereupon, The operation of Money by the rate of Usury. whereby the measure is engrossed and also falsified) is, That the rate of Usury is become the measure whereby all men trade, purchase, build, plant, or any other ways bargain; and consequently all things depending upon the premises, are ruled and governed accordingly, as in the Chapter of Usury Politic is declared, to the decrease of Traffic and Trade. Money's will have substanall value really The last property of Money is, to have an internal value in substance, whereupon the Exchanges of Money are grounded; in so much that in countries where the transportation of Money is prohibited, and Merchants Strangers and others are commanded to make their returns in Commodities, or by Exchange; if the Moneys be base, or of Copper, the value in Exchange will be made accordingly, to the utter overthrow of all Commerce; for Moneys will have substantial value. Thus much for an Introduction concerning Moneys. Now let us begin from the original of Metals, and so descend to the Particulars and Accidents. * ⁎ * CHAP. I. Of the Essence or Existence of Metals. ALl Philosophers (by the light of Nature and long observation) have determined that the sperm, or seed of all things, created of the four Elements, doth in a secret manner lower within the two Elements of Water and Earth; and that Nature doth continually work to produce perfect things, but is hindered therein by accidental causes, w●ich are the begetters of corruption and imperfection of all things, whereby we have variety of things which are delectable to the spirit of man. Herein they observe the operation of the Sun and Moon, Vegitative, Sensitive, and Rational. and the other Planets and Stars in the generation of all things, which either have a Being or Existence as the Elements have; or a Being and Life, as vegetable Trees or Plants, or a Being, Life and Sense, as Beasts, Birds, and other living creatures; or a Being, Life, Sense and Reason, as Man hath, and all reasonable creatures: which knowledge and wisdom (no doubt) the holy Prophet Moses did learn amongst the Egyptians. Acts 7.22. But had these Philosophers read the * Genesis. Book of Moses of Creation and Generation, they would not have ascribed the guiding and conducting of all natural things to the two Leaders, namely the Stars, and Nature. Hence it proceedeth, that amongst vegetable things (which have a Being and Life) they reckon all metals, which have their beginning from Sulphur and Mercury, Tanquam ex patre & matre; which meeting and concurring together in the veins of the earth, do engender through the heat and quality of the Climate by an assidual concoction, according to the nature of the earth wherein they meet, which (being either good and pure, or stinking and corrupt) produceth the diversity of the metals of Gold, Silver, Copper, Tin, Led, and Iron, in their several natures: and hereupon they have assigned them under their distinct Planets, to be benevolent or malevolent; The Planets of Metals as Led under Saturn, Tin under jupiter, Iron under Mars, Gold under Sol, Copper under Venus, Quicksilver under Mercury, and Silver under Luna. So Mercury or Quicksilver is one of the seven metals, which being volatile and by his volubility running with every one, is in nature as they are, either good or evil. And howsoever they have placed Tin under the benevolent Planet jupiter; experience hath proved unto us, that Tin is the poison of all metals. Sulphur is excluded, which they say is of two colours, being white and corrupt in the Silver, which therefore falleth away; but red and pure in the Gold, and therefore permanent. These diversities of metals being come to pass by accidental causes, is the cause that Art (being Nature's Ape by imitation) hath endeavoured to perform that wherein Nature was hindered. Whereupon Aristotle saith, Facilius est distruere Accidentale, quam Essentiale, So that the Accidental being destroyed, the Essential remaineth, which should be pure. But this cannot be done without projection of the Elixir or Quintescense upon metals. Hence proceedeth the study of all the Philosophers to make their miraculous Stone, which (I confess) is very pleasant, and full of expectation, when a man seethe the true and perfect transmutation of metals; Transmutation of metals. Led and Iron into Copper; the Ore of Lead into Quicksilver or Mercury, with a small charge to a very great profit, as it hath been made for me, until the make● of it died within three months after he had made almost four thousand pound weight, as good as any natural Mercury could be, and that in six week's time. To return to our Philosophers, concerning the Essence of Metals, they have been transcendend in the knowledge thereof, for they show the generation of Sulphur and Mercury in this manner. The Essence of Sulphur and Mercury. The exhalations of the earth being cold and dry, and the vapours of the seas being cold and moist, according to their natures, ascending and meeting in a due proportion and equality, and falling upon some hilly or mountainous country, where the influence of Sun and Moon have a continual operation; are the cause of generation, or properly from it is Sulphur and Mercury engendered, penetrating into the earth where there are veins of water, and there they congeal into Gold or Silver, or into the Oars of Silver, Copper, and all other metals, participating or holding always some little mixture of the best; or being in nature better or worse according to the said accidental causes. So that they do attribute the generation to the operation of the influences of the Sun and Moon: where the Book of God showeth us the creation of all things in heaven and earth, and the furniture thereof; The earth (being the dry part of the Globe of the world) did appear and was made the third day, containing in it the Oars of all metals and minerals; whereas the Sun and Moon were created afterwards on the fourth day, whose operation was incident to the things created, but not before. In like manner (say they) are Diamonds, Rubies, and other precious stones engendered, according to the purity of the matter, and the portionable participation of every element therein: Exhalations, and vapours, etc. if the exhalations (being subtle) do superabound and prevail over the vapours, than hereof is Sulphur engendered; and if this subtle exhalation be mixed with the moist vapours, and wanteth decoction, as being in a very cold place, it becometh Mercury or Quicksilver, which can endure no heat or fire at all. The first mettle mentioned in the holy Scripture, is Gold, which was found in the river Pisson, Gen. 2.11. Gold groweth. running through the Garden of Eden into the country of Havila, where Gold doth grow, and this was in the East: according to which observation, all the veins of Mines run from East towards West, with the course of the Sun, as shall be more declared. To this argument appertaineth the Philosophical study of Prima Materia, Prima Materia, vel Mercurius Philosophorum. to be found out by experience for the great work of Lapis Philosophorum, by the operation of the Sun, in seven years; the practice whereof was made about forty years since, by a German Doctor of Physic, at Dansicke in the East countries (as I have been informed by a friend of mine, who was also a Physician) and was done in this manner, according to the bigness of the body of the Sun, The body of the Sun, is 166 times bigger than the whole Globe. being 166 times bigger than the whole Globe of the earth and water, making the circumference of the world; whereupon he took 166 vials or glasses, wherein he did put, of all the Oars of metals and minerals, and other things which had any affinity with minerals, and some of them mixed, and calcined all of them, and closing or nipping up all the glasses by fire, he did expose them to the Sun in an eminent place, for and during the said time of seven years, and found thereby (as it was reported) Prima Materia, which was reduced to seven glasses; howsoever, it was certain that he grew very rich, and bought above one hundreth houses in that City before he died: which was an occasion, that my friend (imitating him) did likewise place not fare from London seven glasses, with calcined metals made of the oars of metals and minerals, upon a house top against the back of a chimney, where the repercussion of the Sun did work upon them, which was admirable to behold from six month to six months, not only by the sublimation of colours very variable and Celestial, but also of the rare alteration of the Stuff, being sometimes liquid, another time dry, or part of it moist; ascending and descending, very strange to behold, as myself have seen diverse times from year to year: some had been there two, three, four, five, and one almost seven years, the colour whereof had been yellow, then white in the superficies, then as black as pitch, afterwards dark red, with Stars of Gold in the upper part of the glass, and at last of the colour of Oranges or Lemons, and the substance almost dry. Many were the questions between him and me, but he was confident that there was the Elixir, howbeit very doubtful that he should never enjoy the same, and it came so to pass, for after a long sickness he died of a burning Ague, and a Gentleman gave a sum of money to his wife for that glass, whereof I have not heard any thing these seven years. In this glass he would show me the working of this quintessence, according to the description of Ripley, Lapis Philosophorum. who he was assured had the Lapis, and so had Friar Bacon, and Norton of Bristol. Kelley had by his saying, some little part to make projection, but it was not of his own making. The charge to make it, was little or nothing to speak of, and might be done in seven months, if a man did begin it upon the right day. The twelve operations of Ripley, he declared unto me, were but six, and then it resteth; for (saith he) all Philosophers have darkened the study of this blessed work, which God hath revealed to a few humble and charitable men. Ripleys' twelve gates. Calcination, Dissolution, and Separation, are but one; and so is Conjunction and Putrefaction; likewise Cibation and Fermentation; then followeth Congelation; and at last Multiplication and Projection, which are also but one. For mine own part, seeing that no man can be perfect in any one Science, I hold it not amiss for a man to have knowledge in most or in all things. For by this study of Alchemy, men may attain to many good experiments of distillations Chemical, Fireworks, and other excellent observations in Nature, which being fare from Merchant's profession, I hope shall not give offence to the Reader of this Book, seeing it is but in one Chapter (accidentally) handled. Neither will I crave pardon of the Muses (as it were) insinuating to the world to have a far greater knowledge in these trials or conclusions; but to satisfy the curiosity of some, that it may be (with a gaping mouth) expect to understand somewhat of the Stuff put into these glasses, I may say (as I was informed) That in some was the calcined over of Sil●er and Gold, in some other Mercury calcined, and Sulphur in some other: Arsenike for the Air, Sulphur for the Fire, Mercury for Water, and Sea-coal for the Earth; were put altogether, as the four Elements. In some other glass was Vitriol and Orpiment, and what more I do not now remember, concluding, That where Nature giveth ability, Art giveth facility. I have read all the Books of Paracelsus, that I could find hitherto, and in his Book De Transmutatione Rerum, I do find to this purpose the observations following, concurring with my friend's opinion concerning Ripleys' 12 Divisions, comprised into six, and the seventh is the matter itself and the labour or working resteth, wherewith I do end this Chapter, and proceed to the surer ground of the Mines of Metals. Omne quod in Fri●ore soluitur, continet Aerum Spiritum salis, quem in sublimatione vel distillatione, acquirit & assumit. Omne quod in Frigore vel Aere soluitur, iterum calore, Ignis coagulatur in Puluerem vel Lapidem. Solutio verò Caloris, soluit omnia pingua & omnia Sulphurea: Et quicquid calor ignis soluit: hoc coagulat, Frigus in mass●m, & quicquid calor coagulat, hoc soluit rursus Aeer & Frigor. Gradus ad Transmutationem sunt septem. Calcinatio, Sublimatio, Solutio, Putrifactio, Distillatio, Coagulatio & Tintura. Subgradus Calcinationis, compraehenduntur, Reverberatio & Cementatio. Sub Sublimatione, Exaltio, Elevatio, & Fixatio. Sub Solutione, Dissolutio & Resolutio. Sub Putrifactione, Digestio, & Circulatio, qui transmutat colores, separat purum ab impuro; purum superius, impurum inferius. Sub Distillatione, Ascensio, Lavatio & Fixatio. Coagulatio est duplex; una Aeris, altera Ignis. Tintura tingit totum corpus, & est fermentum massae, farinaceoe & panis. Secundum est, Quod calidius liquescunt, eo celerius tintura transcurrit, sicut fermentum penetrat, & totam massam acetositate inficit etc. Sequitur Mortificatio & Fixatio sulphuris, & in Libro de Resuscitatione Rerum: Reductio metallorum in mercurium vivum. CHAP. II. Of Mines Royal. THe Mines called Royal are only of Gold, Silver, and Copper, of which three metals Princes made choice to make their moneys of, simple or mixed, as shall be hereafter declared. But for as much as Silver is found in the lead Mines, and that the silver Mines have their Oars mixed with hard lead also, it happeneth many times, that there are great questions about these Mines, when Princes will claim their interest in some lead Mines, because they are rich in silver: as of late years between Queen Elizabeth and the Earl of Northumberland, as you may read in Master Plowdens' Commentary of Book Cases, where it was adjudged, That if a Mine be found richer in silver of more value within the Ore, than of lead, all charges of the working of both metals being fully paid; the Prince may claim the same to be a Mine Royal: wherein must be had great advisement, some Ore in one place being richer than other Ore in another place of the same Mine, whereof we may handle in his proper place of other Mines. Beginning therefore with Gold, the most precious mettle, Gold Mines. let us observe, That the same is found in hills, rivers, and in the earth, but not mixed in Ore, as Silver, Copper, and other metals. That which is found in the rivers is the finest, as containing less corruption, and is all of one goodness otherwise. There is Mayden-gold, so called because it was never in the fire. Naturally all Gold hath a little Silver in it, as also some Copper, and coming out of the ground it is soft, and doth harden by the air. Such Gold as hath no need to be refined, but may be used according to his finesse in works, or to make money, is called Aurum obrison: such was the Gold which sir Bevis Bulmer knight brought out of Scotland, found in the sands of the rivers near unto the Gold Mines of Crayford-moore, Crayford Moor in Scotland. which was above twenty and two Carrats fine, and better than the French crown Gold. I saw some eighteen ounces of it which was in big grains, some like pease found out by the Shepherds, by whose means that place hath been discovered in the latter time of queen Elizabeth. Some other Gold hath been found out also in Scotland within a white sparre, wherein it groweth, near the superficies of the earth, & runneth into small veins like pins, fit to be refined by quicksilver from the sparre, because it is as pure Gold as any found in Africa or Barbary, which we call Angel Gold, holding but half a grain of Alloy. I have seen the like sparre of Gold which was found in England in county of Lincoln at Brickell hill near Spilsbie by Lincoln. Brickell Hill in England. But neither this place or any other are looked into for the reasons hereafter declared, being right worthy to be regarded with a curious eye, and an industrious understanding; and consequently many other, whereof this Monarchy of Great Britain is rarely blessed, and especially in Scotland where much barren ground is: for God in his divine wisdom doth countervail the said barrenness of the soil, with the riches contained within the bowels of the earth, as in fertile ground with the Corn and fruits growing upon the superficies thereof: An observation to find out any Mines. which may serve us for an observation, especially where we find rivers of water running about the hilly places in dales, which the Spaniards did so much regard in the West-Indies, seeking after Mines, that in all places where they found not the same, they presently gave over the search after them. Gold doth come out of many countries, as out of the mountains in Bohemia, rivers of Pannonia in Hungary, out of the kingdom of Sweaden; but it is all exhausted. There was wont to come out of Spain of the rivers and mountains above twenty thousand pound weight yearly, which is worth above eight hundreth thousand pounds sterling; but there is none found now. In the Island of Santo Domingo all is exhausted also; and so will it be in Perou, and the West-Indies: it is more like to continue in Africa and Barbary, because of the climate, Cold climates have abounded with Gold. albeit that Hungary in Pannonia lieth under fifty and three degrees, and is a colder climate than ours, and nevertheless hath yielded abundance of Gold since the year 1527, until the year 1568, as by a certain record appeareth, which was kept thereof. The King of Spain was wont to have from Castle de Mina (upon the coast of Africa) above eighty thousand pounds worth every year, which is now almost decreased to the one half: and all along that coast, the Hollanders and the French Merchants complain of the small quantity now extant, or there to be found, to make return of their commodities (Hides and Wax not being so plentiful as in times past.) Turkey is hindered also to have such quantity of Gold as in times past came out of Persia unto them. Of the Gold of Ophir, Gold of Ophir we hear but a discourse of old observation; That Solomon had the Gold from that place to beautify the temple of jerusalem, and his palace. This is held to be the Island of Sumatra or Taprobana, being the greatest of all the Oriental Islands, The situation of Sumatra. and is divided from the firm land of Malacca by a straight and dangerous sea, by reason of many Islands and Cliffs that are within it. It lieth under nine degrees on the Southside of the Line, which no doubt is very rich of Mines of Gold, Silver, and Copper. The Hollanders did touch there in their first voyage they made for the East-Indies, where the Inhabitants make excellent Brass Pieces, and are opulent in all things. But I never have yet heard of any Gold brought from thence, neither from the Island of java Maior, which lieth right over the Island of Sumatra, on the Southside of the Equinoctial Line, which may be, hereafter shall appear; for out of all doubt, men's treasures are hourded up in Gold in many places. It is recorded that David left in Gold (besides Silver) 180 millions sterling, according to the calculation: But Solomon left behind him but one tenth part of that, namely eighteen millions. Silver is always found more abundantly, Silver Mines. because of the number of Silver Mines found in diverse countries, and for that all Lead Mines contain some Silver, especially the poor Lead Mines, the Ore whereof yields but small quantity of Lead, either 25 or 30 ll weight in one hundreth of Ore; and that Silver containeth likewise some Gold, found sometimes to be three or four ounces in one hundreth pound weight, besides the Copper in the Silver Ore. The Silver Mines of Hungary and Bohemia, as also Sweaden, are drawn out, but do continue in Germany (in many places) which have properly the Silver Over of the Celestial colour with fine grains glistering like little stairs. In Saxony the Mines are richer: so are the Mines of the Severstall Mountains, Severstall Silver Mines. which have continually yielded six or eight thousand pound weight a year, but are wrought upon at leisure. The Mines in the West-Indies are the principal in quantity of poor Ore, where many hands make light work. For the King of Spain doth divide his grounds by proportion to his subjects to work for him, allowing them money and Quicksilver to separate the silver from the drossy substance, and they must pay him again in Silver after a certain rate; and were it not for the quantity of Ore, the Silver would be very little. For I am assured by the information of one Don Rodrigo de Cordua of the house of Toledo, a knight who had lived in the West-Indies many years, and attended the great Mine of Potosie, Potosie Mine of Silver in the West-Indies. That the Ore thereof containeth not above 1 ½ ounce of Silver in a hundreth: the like was affirmed by a Portugal called Antonio Diaz, who had dwelled thirty and two years in the said West-Indies. I was interpreter between our sovereign Lord james, and the said Antonio, when he made the trial of the Silver Over of Scotland in the Tower of London with Quicksilver before the King, and did inform his Majesty hereof; as also that the best Silver Mine that ever was wrought upon in the West-Indies, did not contain above eight ounces in one hundreth weight. The Mines in Germany are fare richer: Charles Mine in Misnia. some contain thirty and forty ounces, that is to say, by the mixed mettle Over, taking of it disquisitively, or here and there: for the blossom of Silver appearing in some branches is fine or better than sterling, which therefore doth not proportionate the goodness of the Mine; whereof more hereafter. Now leaving the Mines of the Earl of Mansfield, and others that are in tirol and other places of Germany, we must not forget to give the due commendation unto the noble Duke of Brownswicke, that to his loss did maintain the Silver Mine of the Wild-man, Mines in the Duke of Browneswikes country. or Savage, in his country, only to set the people on work, being indeed but a Mine of course Led, whereof he had great store, heretofore, six hundreth weight of Ore making but one hundreth of Lead, and that hundreth of Lead hath but 1 ½ ounce of Silver, whereof his Dollars are made; expressing the same by the Inscription (which may very well be assumed by many, for their Posy) Alijs inseruiendo consumor, As the candle doth, which by consumption of itself, doth give light unto others. The stamp of those Dollars is a savage man, holding a burning candle in one hand, and the trunk of a tree in the other hand, and the Emperor's Arms on the other side. Silver Mines of Great Britain. I cannot therefore without grief discourse of the Silver Mines of this Monarchy of Great Britain, and hearty lament to see them lie dead and buried in oblivion, because I have heretofore sought to advance the working of them: for it is now about fourteen years since I caused diverse workmen to come out of Saxony, Brownswike and other places in Germany at my great charges, to the number of seventeen persons, some for the Silver Mines in the Bishopric of Duresme, Richmondshire others for the Led Mines in Richmondshire in the county of York, some for the Allome works there also, and some for the making of Steel in Wales, wherein the noble Lord Ewer deceased, and certain London Merchants had undertaken to proceed with me. The action being applauded by a great personage then in authority, and now deceased, who promised all the favour that he could do: but he had some other private designs herein, as he had also in the Silver Over of Scotland, whereof we are now to entreat: in so much, that the actions of these two Lords were like unto Phaeton's horses, for all was set into a combustion, and the poor men went begging homewards, to our exceeding great loss of the benefits in expectation, our Mines being richer than those of the West-Indies, whereof I have made (and caused to be made) many trials, of above twenty several sorts of Silver Oars. The two Mines of Muggleswike and Wardall at Duresme contain six and eight ounces of silver in the hundreth, which being fallen in, Silver Mines at Duresme. may with a reasonable charge be brought in working, according to the information which I took of the inhabitants there, at which time I did intent to go further into Lancashire to Slaithborne Mine, Slaithborne Mine in Lancashire. holding above four ounces of silver in the hundreth: but being in the Winter time, and the weather very foul I was diverted, not without discontent, because it is the country where my ancestors and parents were borne. The Silver Mine at Combmartin in Cornwall, Combmartin in Cornwall. holdeth ten ounces in the hundreth, where Sir Bevis Bulmer did work for a time, which is deep and overflown with water; but there are diverse branches of that Mine running many miles off spread into the earth, and within these two years some Ore was sent me from Barnestaple of a branch of that Mine, Mines of silver by Barnestaple lying within one foot and a half of the superficies, which upon diverse trials of one pound weight at once, holdeth by computation above ten ounces of Silver, but little Lead; for every pound did produce above two penny weight in Silver, and is not difficult in the melting. The party in whose ground it is found will not have it touched nor meddled with, fearing his grounds shall be spoiled, and the Mine taken from him, which is known above half a mile of one foot broad. Howsoever I thought good to remember this for our posterity, for there may come a time that industrious men shall be more regarded. It were also injurious, Silver Mines of Scotland. if I should not remember the Silver Mines of Scotland, especially that Mine which lieth in the grounds of Sir Thomas Hamilton Knight, Lord Advocate of Scotland, within eighteen miles of Edinburgh towards the sea side, discovered in the year 1607, by means of a Collier, as I am informed. In the report of the goodness of this Mine hath been very great diversity, according as they found the Ore of several veins, as we have noted before, for the blossom of Silver Over, A singular good observation. or the small veins cannot give true direction of the richness of the Mine, which is the cause that the Spaniards in the West-Indies, having found any vein of a Mine, they will pursue the same towards the East and seek to find out (as it were) the Trunk or Body of the Tree, which they call Beta, saying Es menester siempre buscar la Beta de la mina, We must always seek after the body of the Mine; which may be sometimes three or four foot broad, when the veins are like an arm or finger: and according to the trial made thereof they give their judgement, not by the trial of the subtle assay, but by some good quantity, and increasing their said trials by some additements fit for the nature of the mettle Over, as they judge the same to be. For all diseases cannot be cured with one remedy in all persons, although the disease be alike; so may it be said of those that make trials of the Oars of metals, for some trials did report 80 pound of Silver in one hundreth weight, others 60 ll, 40 ll, 35 ll, and 20 ll, and then it fell into ounces, which was more reasonable and natural, as I informed then some Privy Councillor, Trial of one tun of Ore by Sir Bevis Bulmer. and the said Sir Bevis Bulmer, whereupon it pleased his Majesty, and the Lords of the Right honourable Privy Council, to appoint ten Tons of the said Silver Over to be brought into the Tower of London, whereof one Tun of twenty hundreth weight was indifferently taken and calcined or grinded together, and thereunto were two Tuns of Lead added and commixed, and afterwards melted by a continual fire and hand-blast of four men, according as I have noted in writing. And there was a cake of silver remaining weighing 17 ½ ounces, and the extraction out of the Lead was some four or five ounces more; so that it was reported to be 22 ounces in the hundreth weight of Ore, but the charge was great. There was also another trial made by William Beale, with a fare lesser quantity of Lead, and roasting the Ore; and by Master Broad and others, as Master Russell, who refined the same with the flag of Lead; others by Led Over to save charges, and they all found above 22 ounces of silver in the hundreth weight of Ore. And so did Sir Richard Martin Knight, Master worker of his Majesty's Mint, lately deceased, who delivered unto me at times 20 pound weight of the said Ore, grinded, shaddered and washed, which I did send beyond the seas unto an expert Mintmaster, and withal a particular of the manner of trials which every man had made here; as also of the trial made by the Portugal with Quicksilver, who found 23 or 24 ounces; his answer was, That upon his first trial he found 42 ounces, & of the other less, and that the over was easy to be wrought (but not by the means that all those men had used) and with little charges; and that the manner to refine with Quicksilver, was good for poor Mines of two or three ounces, where the Ore had little or no Lead; Colour of the Ore of Scotland. and that the commixture of the Mine was very brittle, and Bel-mettall, and so did all the other Refiners affirm. For the said Ore doth look between white and blue for the most part, and is like the Bell mettle found in good quantity about Bristol, which is used to make some kind of Alkemie beyond the seas, and this must be allayed to qualify the brittleness with some mineral, of all which I have made a record in my Book of Collections. Great quantity of Silver Ore. In the month of August 1608, there came two ships before the Tower of London from Scotland, laden with some 400 barrels of this silver Over, in weight some hundreth tuns lading, which were there landed & delivered unto the Lord Knyvet, Warden of the King's Mint, whereof 20 tons was taken promiscuously and grinded, and afterwards also distributed unto diverse Refiners and others, and the trial of master Broad was best, who found 28 ounces in the hundreth of Ore. Of this quantity Sir Richard Martin had three tuns, whereof some was sent to my friend beyond the seas: Interim, these trials and conclusions so differing brought the said Ore (together with other proceed) into some disgrace, whereupon (according unto commission given me) I made an offer to buy the 80 tons remaining in the Tower, to a great personage, to give it for 24 pound the tun, to be transported to my friend into Holland paying ready money: time was taken to give me an answer, and then difficulty was made, for that treasure was not to be exported, unless by returning the quantity of silver by weight; hereupon conclusion was made to bring in so much Bullion of silver or royals of plate. But when all came to all, with running up and down, and further offering to deal for greater quantities, and to take it in Scotland I was put off with this consideration, That it was a dishonour to England, not to have men of as good experience as any were beyond the seas, whereby the King's loss was 2000 ll; for his Highness gave the same afterwards unto james Achinson his Graver of the Mint heretofore, who brought the same to nothing, being unskilful of the refining of it. And thus are good matters marred in the handling, Good matters marred in the handling. and works brought at a stay or hindered, as I have before set down. There are many rich Mines in Scotland, if we compare them to the West-India Mines; and in Wales, Plus Pencer que dire. where the Led Mines are poor, they contain the more silver of 1 ½, two and three ounces in the hundreth of the Ore, which will not yield above 40 or 44 ll weight of Lead, and the Ore of the Mine which holdeth three ounces, containeth but 25 pound of Lead. The Mines most known are those in Cardiganshire in Wales, where master Hugh Middleton of London Goldsmith, hath bestowed very great charges, as he did in bringing the water-works to the City of London; so he bringeth now silver to the Tower to be minted: the Ore being four ounces in the hundreth, or 80 ounces in the tun, and the less in Lead; for the richer the Ore is in Lead, the poorer it is in silver. So one hundreth of the best Ore of Lead will make near 70 ll of Lead, and holdeth but 1/● ounce of silver, not worth the charges of refining, as we shall declare. The Led Mines in Ireland, do contain more silver than these Mines of Darbieshire, and Somersetshire, called Peake and Mendisse Lead. The Saxons, which were procured to come into England, had no more, no not so much experience as our refiners of London, for by saving of Lead, they found lesser quantity of silver, and so all was given over. The third sort of Mines Royal, are the Copper Mines, Copper Mines which are found also in diverse Countries, which are not so plentiful in Hungary (where the best is) as in times past; but are very abundant in Sweaden, howbeit that it is very mean and inferior in goodness. There are also Copper Mines in Germany, and the Duke of Brunswickes' country: as also certain natural Copperas waters, wherein they cast from time to time great quantity of old Iron, which within six weeks or two months doth transmute into Copper. Natural water of Copperas. England hath diverse Copper Mines: at Keaswike near Scotland are made some forty tons yearly by certain Germans there inhabiting, it containeth some Gold. Some Mines of Copper Over are found in Yorkshire: and albeit the charge of making one ton of Copper be commonly 30 ll, yet if seven ton of Copper Over make one ton of Copper, it may yield good benefit; for whereas 22 fires have been used, it is brought to 12. I have seen excellent Copper Over of some Mines in Staffordshire in the hands of master Stonewell, Staffordshire Copper Mines which absolutely is the best Ore that ever was found in England, he doth assure me of great store of Ore. It is lamentable that such works should lie dead for want of undertakers, which indeed are discouraged by the great charges: In mine opinion the charge of a ton of Copper of this goodness of Ore will be made for 15 ll. There are also good Copper Mines in the West parts of England, where I have seen good Ore in diverse places, which must be roasted to destroy the Antimony, Arsenic, and other corruptions which are in it. The working of copper Over, by Allome and Copperas water. A certain Nobleman now deceased, was embarked in those Western Mines, which were promised to be wrought by imbibition of Allome and Copperas water, and the Ore after digestion with rainwater, would make of six tuns one of Copper: hereupon (for 300 ll by him disbursed) he was offered 1800 ll. It pleased his Lordship to take my advice, and to conclude the bargain; for when I did calculate the charge of grinding and roasting of the ore, the making of the great quantity of Allome water and Copperas, the consumption of iron plates decreasing in weight, with all the tubs and utensils, the long time of imbibition, and consequently workman's wages, I found the charge to exceed, and that the course of ordinary melting was to be preferred: and so experience hath since proved the same, to the great loss of the undertakers. For when works are clogged with immensive charges in the beginning, it choketh the benefit ever after, as we shall presently declare. Seeing that profit is the radical moisture of such and the like actions, his Majesty hath been graciously pleased, to incorporate a Company of worthy persons, The Company of Royal Mines. for all Royal Mines, by Letters Patents, and hath reserved but one fifteenth part to himself. But there is none of that Company that doth advance any works, that I can learn. I would to God that the Mines Royal or others, would prove to be worth ten thousand pounds yearly, and above; whereby his Highness (according to the ancient Maxim of the Law) might claim his interest as they say; for it is well known how gracious and bountiful his Majesty is always. The great wealth of the West-Indies would not be so admirable unto us, A Spanish Million, is 300 thousand pound sterling. the Report whereof is greater than the Truth; and the Spanish Millions are not sterling Millions: Nevertheless let us reckon them with the most, which is three hundreth thousand pound sterling. And when the Fleet of the West-Indies, and Nova Espagna bringeth eight or nine Millions, it is a great matter. And to make this apparent, I have here set down the greatest Treasure that ever came at any one time, which was in the year 1587., as a provision for the great Armada then preparing: whereunto unto great benevolences had been gathered, in regard of the meritorious action, which God from Invincible made Invisible. The Register of the treasure was (with the most) namely, From Nova Espana and Terra firm. For the King. 8100 Ingots of Silver. 12 Chests with Gold. 300 thousand Royals of eight. 20 Cases with Pearls. 1 Chest with Emeralds. 5600 Roves of Cutchenille. For particular persons. A remembrance of the greatest revenue of the West-Indies. 5 millions Teasted silver. 1500 Marks of Gold of eight ounces. 1500 Marks of Pearls. 1 Chest Emeralds. From Mexico. For the King. 1900 thousand Pesos of Silver. 1100 Marks of Gold. For particular persons. 2 millions in Silver. 64 thousand Hides. 25 thousand ll Indigo. From Santo Domingo Island, 35 thousand Hides. 900 Chest Sugar of 1000 ll weight. 22 thousand Kintals of Ginger. 13 thousand Kintals of Logwood. 50 Kintals of Salsaparilla. 48 Kintals of Caniafistula. 64 Roves of Cottonwooll. All the Gold and Silver was valued at thirteen millions, and all the commodities at three millions, whereof the King had twelve millions and one half De claro: wherewith we conclude this Chapter of the Mines Royal, and are moved to write also of other Mines and Minerals contrary to our first intention, but briefly, as followeth. (* ⁎ *) CHAP. III. Of Mines and Minerals. THe next in order to be treated of are Tin Mines, which are but few in number in all countries, Tin Mines. and in Germany only found somewhat plentiful, but the Tin is blackish and corrupt: so that our English Tin in Devonshire and Cornwall is the only Tin of all the World, which containeth four ounces of Gold in a thousand, whereof there is some twelve hundreth thousand made yearly. It hath been sold for many years at an under value: but his majesty hath by way of Praeemption advanced the price thereof, which belongeth to the Dukes of Cornwall, and consequently unto the noble Prince of Wales Charles, son and heir apparent to our sovereign Lord king james. This Praeemption is let to farm to certain Merchants, and the government of the Staneries, with all the good orders observed therein, and the coinage of Tin to demonstrate the goodness is profitable to the kingdom, and deserveth great commendation, as is already noted. Led Mines. Lead Mines are found in all cold countries, especially in Germany in the dukedom of Brown●wike, but it is black of colour, and until it be refined it is unserviceable, and consequently not vendible. The old Duke had almost made a wall abo●t the city of the sows and pigs of Lead, until our Lead became dear and scant, and that an Antuerpian did teach them how to refine their Lead in taking away the cobble (which is like unto a knot in a piece of timber) which made the Lead brittle, and by his means all the Dukes Lead was sold in Italy, Spain, and other places, in France, and elsewhere. Scotland and Ireland have many Lead Mines, containing also Silver. The Lead Mines of England are situated in diverse places of the kingdom, but most in Darbishire in the hills of Peake, Somersetshire, and Wales. There is great difference in the Ore, as hath been noted. There are also many Led Mines in Richmondshire under the county of York, where I went to view them, anno 1606, about Arkendale, and the new Forest, having prepared a long Iron boar of eighteen foot long for that purpose, Description of many Lead Mines in Yorkshire. and there I did observe within the compass of ten miles, that the situation of Arkendale i● betwixt two hills, the one lying North called Windike, and the other South-West called Moldersey, adjoining unto another hill called Pouncy, lying West from Moldersey, all belonging unto the King, and by lease unto sir john Maillorie knight. There are also adjoining unto it certain other hills where lead Mines are, as Swailedale, where my lord Wharton hath his works, also Readhurst, Cocka, and Fellind being East from Wyndecke. The Mines of Arkendale have never been wrought to any purpose. There is but three smelting cottages which do feed upon the poor people and inhabitants thereabouts, which at their leisure seek for Led Over upon sufferance, and bring the same to the melting places, where they fell the same for 20 or 24 ss the load, giving to the owners three or four parts in ten, as they can agree, and one tenth to the Parson or Vicar of the Parish or Chapel. A load of Ore with them is as much as four or five horses can conveniently carry, which by computation is some ten hundreth weight, and is also delivered by a measure called Load; four of these Loads will make a Father of Lead of twenty hundreth, their weight being 120 ll to the hundreth London weight; so one hundreth of Lead Over maketh but 30 ll of Lead: which cometh to pass for that their manner of melting is by foot-blast and small furnaces with wood and charcoal, Foolish manner of melting. casting the Ore of Lead between them in small pieces, and so still augmenting their melting, which can yield but little, the heat of the fire being choked with the fuel and dross of the Lead; whereas flame is the greatest means of melting of all mettaline Oars, which require furnaces to be made accordingly, where thirty six or forty hundreth may be melted together, they melting three or four hundreth. There is no wood to be had, but within two miles, but sea coal and good peat is near hand, which may serve better cheap; for they reckon 7 or 8 ss for the charge of a father for the melting. The Lead being cast into small Pigs of somewhat more than one hundreth weight, are brought on horseback through Richmond to Burroughbridge, being about thirty miles distant, and are conveyed by water to York for 2 ss the hundreth, and from York to Hull for other two shillings; so that a Father of Lead with all charges will not stand in three pounds: and there is a nearer way by Stockton on the seaside (about twenty and five miles) which will lessen the said charges. Now we are come to Iron mines, Iron Mines. whereof almost all countries in Europe are provided, which do much differ in goodness, yet may be used according to the several works whereunto it is employed; as the Spanish Iron serving for Blades, & not so good for other things. England hath great store of Iron Mines, for by computation there are above eight hundreth furnaces. The melting of it by flaming sea coal or Scots coal, saveth a great deal of charges. There are lately found more Iron Mines in France, which Iron being made into bars, is transported into Guinea, Binea, and other parts upon the coasts of Africa, where it hath continually been in great estimation, and now becometh so abundant, that their profit is but small of those voyages; and so it falleth out at this present for the price of Lead. The Iron stone in Wales is found to differ from the Steel stone, by means whereof a German made good Steel in bars, Steel stone. and also Gad Steel. But the patent of sir Baesell Brooke for the making of Steel did hinder the proceed therein: and German Steel is best, until of late that a Frenchman (showing the imperfection of ordinary Steel) caused his majesty to make void the said patent, and to grant another for the making of perfect Steel, surpassing in goodness the Steel of all countries. So we find, that our Iron is best for the casting of Ordnance, and that the Sweaden cast Iron Pieces are brittle, and commonly one in seven will not abide the trial; and of late the broken pieces of ours are made serviceable for Iron in bars to be cast again. Quicksilver Mines. Mercury or Quicksilver natural, is not yet found in England, but only in Germany in very cold places: and within these thirty years there are two Mines of Quicksilver discovered in the West-Indies, which is a help to the quantity which they yearly buy to refine their Silver Mines. Sulphur Mines, or Brimstone. Sulphur or Brimstone being found in diverse countries, cannot be better than we have in some mountains in Wales, from whence I have had diverse sorts of Sulphur earth or mine very rich. Some there is also in Blackamoor and Basedale in York●shire; as also many other Minerals which my workmen did show me, Minerals of diverse sorts. as Terra sigillata, Oacre red and yellow, Bowl Armoniacke, Tera d' Vmbra, Antimony, Salniter, Black lead, Vitriol to be made of Copporas: to say nothing of such things as are made of Metals, nor of Saltpetre, which is plentiful. Allomes are made o● stone, slate, and earth And now I cannot omit to treat of the Allomes, whereof in many country's great store is made: but the best is at Ciu●ta Vecchia in Italy, called Romish Allome, made with small charges, out of a kind of stone which yields above the one half of Allome without using any urine or saltish mixture, as they do in Germany, where they have both red and white Allome at reasonable rates: so they have in many places of the Straits at Constantinople, Carthagena, and other places; Sweaden and Poland are not without it. In Scotland and Ireland great quantities can be made, had not England undertaken so much, whereof I have set down the original, progress, and continuance concerning those works at large, the substance whereof followeth in brief. Queen Elizabeth of blessed memory, did in the sixth year of her reign grant by Letters Patents, unto one Cornelius de Vos, the sole making of Copperas and Allomes within the Realm of England, which was assigned by him to james Lord Mountioy, and being renewed for twenty one years, was confirmed unto him by an Act of Parliament, by virtue whereof one master Lane, his workemaster, made great quantity of Copperas in Dorsetshire, and the Isle of Purbeke, and some Allome and Copperas was then sold at 30 ll the tun, now under three pounds. Afterwards about the year 1604, one master Atherton began to practise the making of Allomes in Yorkshire, about Gisborough, with whom one master Bourchier, now Sir john Bourchier Knight, did join to bring it to some perfection (in hope whereof, and at the suit of the said Sir john) the King in the fourth year of his reign, granted certain conditional Letters Patents, to the Lord Sheffield Precedent of the North, Sir Thomas chaloner, Sir David Fowls Knights, and the said master Bourchier, for twenty one years, for the sole making of Allomes in Yorkshire only, where (in building of seven houses and the utensils for working and charges, Above Black● Moores. with other extraordinaries) they were out of purse in two years, some 33 thousand pounds, and could proceed no further without bringing in new men; for some of the other gave over in time, and would proceed no further, although the Germans were now come, which they had sent for. There are rich Allome Mines in the Isle of Wight. Hereupon other Letters Patents were obtained for thirty one years for all England, Scotland, and Ireland, without conditions, and then they were out above 40 thousand pounds, and no Allomes made to benefit, although the price was raised at a certainty, and all foreign Allomes prohibited to come in. And his Majesty hath been pleased to enter into the said works, and laid out so many thousand pounds, as is not fitting to be expressed. Thus by overcharging the work●s in the beginning, are good businesses overthrown; many are the particulars which I have observed in writing concerning these works. But leaving this, I wish good success therein, for there is Allome earth enough to continue for ever, and in places Westwards as good and better than any in Yorkshire. Now from the Mines of Gold, being fallen to Allome and Copperas, let us end with the Coal pits or Coal Mines; Coale Mines. whereof they make more account in the North, than of Lead Mines, and yet they are abundant, more than in any country of the world. In the lower parts of Germany, about Acon and Collogne, they have great store of Sea-coal, but it doth not cake as our Coals; they melt great quantity of iron stone with it, being like unto the Coal in Nottinghamshire, or thereabouts, which flameth more, like unto the Scots Coals. To know the goodness of the diversity of our Coal, I have noted in the fourth Chapter of the first Part of Weights and Measures, and now I am to show how Mines may be wrought to benefit and profit, for the good of Merchants and others. CHAP. FOUR Of the profitable working of Mines. Philip the second, late King of Spain, perceiving that many blind Bayards were overbold to undertake the working of his Mines of Silver in the West-Indies: and yet considering on the one side, that without authority and privilege they could not be encouraged thereunto; and on the other side (having obtained the same for certain allotted grounds unto them) they did hinder other men, and themselves proceeded not; did very advisedly make all his Letters Patents (as we call them) conditional with a Proviso, A good proviso in Lettets Patents for Mines. That if the Patentees did not proceed in the works, or discontinue the work for two years, the Patent was void of course, and upon Certificate made of it, the King made new Grants unto others. If our King were pleased to do so, many Grants or Leases made by the Company of the Mines Royal would be made void, and other men would be encouraged to try their fortunes upon them. The next consideration concerning Mines, Mettaline and Mineral is, That the works in the beginning be not choked or suffocated with extreme charges and expenses, which doth discourage the undertaker and all others, whereby the works are given over, or means are devised to charge Princes Coffers with them. For it is true, That things do prosper best when they are underpropped by authority itself; which to do in the beginning were more profitable, than when the charges and expenses have ouerburthened them. For prevention whereof, I made a contract for the Led Mines in the North parts, which being imitated shall cut off all such charges as commonly the parties do run into in the working of Mines, upon the conceited benefit which draweth more violently than the Adamant stone. For as the Portugal Antonio Diaz told the King, Todos los mineros son Ricos, porque quando no lo tienen en sustansia, tienen lo enel animo: All Miners are rich, for when they have it not in Substance, they have it in the Mind. The observation already noted, concerning the running waters about Mines, must not be forgotten. The Contract before mentioned was in this manner: A profitable Contract. The Mine to be wrought, and the Ore to be divided into five parts: The owner of the ground or the lessee, to have one part of the Ore shaddered and washed ready to be melted, and he to redeliver the same in the nature and quality aforesaid, and to be paid for it every 3 months, paying for every load twenty shillings. The workmen in like manner to have another fifth part, and to be paid accordingly every week. The other/ 35 parts to be for the undertakers, and they to content the Parson for his tithes: by these means a man is sure to have ware for his money, and then to make Furnaces to melt 36, or 40 hundreth at one time, as hath been touched. For to enter into charges before you have good store of Ore above ground, is needless; herein observe also to work from East to West, or from West to East, unless you find the situation of the Mine to be such, that being troubled with water, you may make entrances in the lower parts thereof to avoid the same. If your lead do contain silver, although it were but an ounce in a hundreth, you may work it to benefit if you preserve your Lead by making of an Iron Cap over your Furnace to be drawn up and down to receive the vapour of Lead, which falleth down again, whereby the loss of above 200 ll weight in one tun will decrease to 80 ll, or thereabouts, and if you have vent enough for the Litargium, which is your Lead, Litargium of Lead. as it is cast up by the Foot-blast, or otherwise being red to paint withal, then may you make profitable work every way. For Copper, observe your roasting, to purge your Antimony and all other corruptions, let not the glistering colour of Marquisite deceive you, it is but smoke and scurf. And although Antimony will be the eldest son of Sol, and contend with Sulphur and Mercury, hold him for a bastard; the thrift, is in ponderous ore for copper, and with a reasonable quantity you may try your works, before you be at charges in landing of your Ore, and to know how many fires will be requisite to make one ton of Copper, and then land great quantity of Ore, according to our former contract: If you are not sure of it, let others bear charges and labour with you, and so shall you not overcharge the work, but rather find means to lessen your charges. The Led Mines in Wales containing two or three ounces of Silver, How to refine ●iluer by Mercury. may (in my opinion) be wrought to great profit by the means of Quicksilver, being roasted by reflection of the fire, and grinded. To the furtherance whereof, I have thought good to set down the manner of Potosie Mine in the West-Indies, and as the Portugal did the Scottish Ore; he did take to one hundreth of the mettle prepared, between 12 ll and 15 ll of Quicksilver, with salt and vinegar; and so sprinkling the said Quicksilver through a linen cloth, still using a reasonable quantity of salt (which divideth the Lead from the Silver) and vinegar or strong water (but that is costly) he did leave these substances together 24 or 25 days, every second day stirring the same with a staff, in which time or less (according to the Mineral) the Quicksilver doth devour or eat up the Silver, and leaveth all the other commixture: then by straining the said mass, the Quicksilver goeth thorough, and there remaineth a Paste in diverse Balls, called the Almond Paste, To be done by retorts of earth. which by a limbeck receiving fire, causeth the Quicksilver to subleme, and falling down by the neck into the water, which is in the receiver stopped close, taketh his body again in the said water, and the Silver remaineth pure, which commonly is not above one fourth part of the weight of the said Paste; your Quicksilver serveth again, and there is not lost above six pound in the hundreth of Silver: he said also, That having once two or three months before hand, the Minerals thus prepared or decocted, himself and four men could refine ten tons of it in a day, which is admirable. But these men are like travellers that sometimes may speak an untruth, Cum gratia & Privilegio. Nevertheless, considering that Potosie Silver Mine holding but 1 1/● ounce of Silver is but 30 ounces the ton, which at 5 ss is but 7 ll 10 ss 0, and the loss of the Quicksilver and all charges deducted there will remain but little, unless the quantity of tons to be done in a day should countervail the same, to provide yearly against the coming of the Fleet, although (as I have said) many hands make light work, and light gains and often doth fill the purse: and if the workmen should return one pound of Silver for every pound of Quicksilver, there would be above ten for one, and they to live by the overplus of it. CHAP. V Of the Nature of Gold, Silver▪ and Copper, and of the Moneys made thereof. FRom the transcendent contemplative study of Philosophers, of vapours and exhalations, to the Essence of Sulphur and Mercury generated into Oars of Metals, We have produced, Gold, Silver, and Copper to the Mint to be converted into Moneys. To which purpose let us now examine the nature of them, and (by inversion) coin first Copper, than Silver, and so come to Gold, according to the beginning of coins made by the ancient Romans: notwithstanding standing, that at our coming to the Mint we saw nothing but Gold coined, whereupon we do remember the verses which were made at their first coining of Gold. Aera dabunt olim melius, nunc omen in Auro est: Victaque concessit prisca Moneta nobis. Such is the quality of fine Gold (by reason of the equal proportion of the four Elements therein, The qualities of Gold. that none is predominant over the other) that the fire doth not consume it, being also hot and dry of nature, neither is it subject to any other Element, for there is no rust or scurf that doth diminish the goodness, or wasteth the substance; it doth abide the fretting and liquors of salt and vinegar without damage, which weareth any other thing; it needs no fire to be made Gold, as other metals do, for it is gold as soon as it is found; it draweth without wool, as it were wool; it is easily spread in leaves of marvelous thinness; you may adorn or gild any other mettle with it; it is not inferior for making of any vessels; in colour it resembleth the Celestial bodies; it defileth not the thing it toucheth, as Silver and other metals; it is not stinking in smell; the spirit of it can by art be extracted, and the body (being as red earth) can never be molten without the spirit be again added thereunto, Difference between natural and artificial Gold. as it were infusing life: and lastly, it is medicinable and maketh glad the heart of man, which artificial Gold doth not, neither is it corrosive as this Gold is, so that a scratch of it will hardly be healed. But for our purpose of moneys (being soft, and only hardened by the air, deaf in sound, and ponderous in weight) it requireth to make Crown Gold fit for moneys and works to have some allay of Silver and Copper mixed, which is 1/12 part: howbeit, that moneys are also made of fine gold, wherein (for observation sake) we ascribe half a grain of allay in twenty and four Carrats. It hath also by reason of his hot and dry quality a property, That filling a cup with wine to the brim, yet you may put ten or fifteen pieces of Gold coined into it by little and little, without spilling, as it were apprehending and clasping the liquid quality of the wine. It is held for certain, that the Salamander's wool, Soda bariglia, or Massacote. and Alumen Plumosum are not subject to fire, yet are they subject to corruption. The stuff called Soda Bariglia, or Massacote whereof Glasses are made (which stuff is burnt of certain sea weeds, as we know & daily may see in the Glasse-houses) is not subject to fire, but altogether to the air: But Gold is permanent. Here now ariseth a question, How it was possible that Archimedes Geometrical trial (so much celebrated by Antiquity) can be sure, seeing Gold hath that attractive power to retain so many pieces of it in a cup of wine? For the King of Egypt being deceived of his Goldsmith in the making of two Diadems or Crowns of Gold, whereof the one contained much Silver) was desirous to know the falsehood without breaking of them: Archymedes trial. Sixteen pound of Silver did spill thirty and six, and sixteen of Gold did Spill but twenty, and the Crown twenty and four, so it was 13 〈◊〉 Silver, and 4 li. of Gold. whereupon Archymedes caused two vessels to be made of one equal bigness, with receivers under them, and caused them to be filled brim full with water, and therein he did put these two Crowns a sunder, and gathered up the water very circumspectly, whereof one of the vessels d●d spill more than the other; according unto which, by Arithmetical proportion grounded upon the Geometrical observation, he found out the difference between the quantity and weight of the two waters, and consequently how much Silver there was put in, in one of the Crowns, in the hue of Gold, which if they had been both falsified, he could never have found it: for the difference came to be known by the bulk or bigness which caused the more spilling, and the matter was visible in some measure. For I have observed by my Instrument made for proportions, Proportion of volume 〈◊〉 Gold, Silver, and Copper. That the difference in bulk between Gold and Silver is as five to nine, and between Silver and Copper as eleven to thirteen; that the body of Copper is bigger than Silver, Led to Silver as from fifteen to fourteen. Tin is lighter than Silver, and doth differ from it as nine to thirteen, and from the Gold as seven to eighteen. Iron differeth from Silver as four to three, and from the Gold as six to nine, the body of gold is lesser. Quicksilver cometh nearer, and doth differ as three to four. But to resolve the question, we must note the diversity of the intentions, which were mere contraries; for the one had an intention to spill, and the other to keep it from spilling, whereas also between the operation of wine and water there may be a difference in this trial. Thus much concerning the nature and quality of fine Gold, whereunto Lead cometh nearest for ponderosity of weight, bigness of volume, and deafness of sound, as fittest for protection. The nature and quality of Silver is like unto the Moon, The quality of Silver. that is, cold and moist; the Sulphur of it white and corrupt, and falling away, as you may see by drawing lines upon a paper. Between the Planets Sol and Luna you have Venus the Planet of Copper, to allay the same, although Mercury be between them, which being fixed, joineth with any mettle. Copper doth harden the Silver, and yet as the weaker of the two, is soon corrupted and consumed for it is in metals according to the Proverb, The weakest goeth to the wall, and the Alloy of Copper is done for the preservation of Silver. The first moneys, Sickle is half an ounce of Silver. or the Sicles of the Hebrews was pure silver weighing half an ounce, which was delivered by weight, and cannot properly be called money, for there was no print upon it: and being allayed with Copper it hath a smell, The quality of Copper. for the Sulphur and Antimony of Copper (being red and corrupt) hath a strong smell, which may (by heating it) be sooner discerned by rubbing: and howsoever there are many blanchers for Copper, the best of them all in time will appear in his colour, being not throughly fixed. The nature of Copper is also cold and moist, and being commixed and augmented with the Calamine stone and lead maketh the yellow brass, Yellow Brass. and increaseth the volume from eleven to fifteen, whereas (as we have said before) between Silver and Copper, it is but eleven to thirteen, which causeth the counterfeiters to be encouraged, notwithstanding the smell and redness of the colour: Allay of Gold. therefore in the allay of crown Gold, the Mint-masters in France and England, do take half Silver, and half Copper, which maketh the higher colour of Gold. But in the Low-countries and Germany they take three parts Silver and one part Copper, which maketh the difference between the colour of their crown and ours, and is the reason that our Gold will sooner wear away than theirs. We have already declared the true derivation of moneys, called by the Romans Pecunia, of Pecus pecudis, not Pecus pecoris; for they coining first Copper moneys (and as it should seem, the wealth of man consisting most in cattles, as in the time of job) caused Oxen, Sheep, and the like cattles to be stamped upon their coins of mere Copper, whereof their Exchequer was called Aerarium, Proportion which was between Silver and Copper. being then in greater estimation: for the proportion or value in the time of Numa Pompilius was ten of Copper to one of Silver, and ten of Silver to one of Gold, which now by the abundance of Copper is much altered, notwithstanding the Copper moneys used in all countries in some reasonable measure. But in Spain, being (as it were unto us) the fountain of Silver and Gold, there it is used immoderately: Copper moneys of Spain and Portugal. for they have so many millions of Copper moneys in four and eight Maluedies and otherwise, and in Portugal of Vintenis, Patacois of so many Reas, that the half Ryall (which is our three pence) is only of Silver, and all moneys under it are mere Copper, without any mixture of Silver. This quantity is almost incredible, for it is not many years since during the King's reign of Philip the third, that certain Italians (finding fault that his Octavos and Quartillos' were too big) gave the King six millions of Ducats to coin them at half the weight, within a time limited, and as many as they could utter within that time; Necessitas non habet legem, is true in some respects. The Venetians also coin mere Copper moneys, Copper moneys of the Venetians. they have Sessini which are valued at two Quatrini, and three Quatrini are one half penny sterling; for six Quatrini are one penny. Bagatini they have also, whereof four make one Quatrini, and twenty and four Bagatini make one penny sterling by calculation. In France they have Mailles, petit Deniers, Deniers, Doubles, Of France. and Liarts, & in times past, most of these had some Silver in them: but upon due consideration (that it was so much Silver wasted, because the charges of refining did surmount the value, and that these moneys did serve for the commutation of petty things and trifles) they have saved that Silver. Of Germany. The like they have done of all the small moneys in Germany: but they cause them to be Alkimed like Silver, which is done with Tin and Sal Armoniake after they be coined, which holdeth fairer for a longer time than the moneys of silver allayed with much copper, being in a manner incorporated with the copper, and taketh away the smell of it. Such are their Hellers, Albs, Hallincke, and the like small copper moneys. Of the Low-countries. In the Low-countries they have Duyts, Mites, Negemanckens, Ortkens whereof four make a Styver, and five Styvers make six pence which we may well call a Styver for a penny sterling; eight Negemanckens and twenty and four Mites for one penny also. In some places (as in Flanders) the Mite is called Corte, and in the Wallone country Engcuni, and in other places Point, Pite, Poot, being all subdivisions of Obolus, or the half penny. Of many other kingdoms and states government. In Bohemia, Poland, Sweaden, Denmark, East-land, and many other Kingdoms and States they have mere copper moneys tedious to describe; likewise in Italy in their several principalities and dukedoms. Of Scotland. In Scotland they have Turnoners, and pence, and half pence in their names, and much base money of Achisons, Plackx, Babies, Nonsuits, Of Ireland. and the like. In Ireland they had in Queen Elizabeth her time half pence, and pence of copper, which are most of them lost and consumed. The necessity of these small moneys did appear here with us in England, where every Chandler, Tapster, Vintner, and others made tokens of lead and brass for halfe-pences, and at Bristol by the late Queen's authority, Farthing tokens in England. were made of copper, with a ship on the one side, and C.B. on the other side, signifying Civitas Bristol: these went currant (for small things) at Bristol, and ten miles about. Hereupon it pleased our sovereign Lord the K. to approve of the making of a competent quantity of farthing tokens to abolish the said leaden tokens made in derogation of the King's Prerogative Royal, which farthing tokens (being made (by Engines) of mere copper in the year 1613, with certain cautions and limitations) have on the one side two sceptres crossing under one diadem in remembrance of the union between England and Scotland, and on the other side the harp for Ireland, and the inscription of jacobus D.G. Magnae Britt. Fra. & Hiber. Rex. And the said farthing tokens have not only been found very commodious and necessary for petty commutations, but also to be a great relief of the poor, and means to increase charity, without which many of them had perished, every man having means to give alms, even the mechanical poor to the indigent poor. Silver moneys To come to the coins of silver, we have also noted, that the Romans made but moneys of silver the 484 year after the foundation of Rome, which was in the year 3695, from the beginning of the world, being now about 1900 years since: and by some coins & models extant, the goodness of it was sterling silver being above 11 ounces fine, since which time many are the standards of silver moneys made in diverse countries according to occasions, both in time of peace and wars, as you may find in the following Chapters, where we have reduced them from the mark weight, unto the pound weight Troy of twelve ounces: And concerning the Moneys of England of the sterling Standard, more followeth hereafter. The Moneys of gold were but made when the Romans had taken great wealth from all Nations, Gold Moneys. and was sixty two years after their beginning of the making of silver Moneys, and they were of fine gold; since which time also, there have been many Standards made of gold, and that from about twenty four carrats fine, until seven carrats, etc. CHAP. VI Of the Officers of Mints. THere are diverse Officers in all Mints: The principal Officer is the Warden of the Mint; next is the Mintmaster: the one to look to the making of Moneys complete, according to the Standards, and the other with his workmen (called Monyers) to make them: Then there is the controller to keep the Contrebookes for the Prince & State, to see the bullion received, and the assays made thereof, and the complete moneys returned for the same, weight for weight, paying coinage money forth same, which is done by the Warden, by the said moneys in specie, as they were coined at the first. There are commonly two Assaymasters, one Graver, and his deputy; one that keepeth the Irons to deliver them to the Monyers, or the Provost or chief of them, to see them every night returned again: then the Sincker, Smith, Porter, and the like in their places; all these have wages for themselves, or allowances yearly from the Prince or State. The Mintmaster and the Monyers, are paid for every pound weight they make, whereof 30 ll weight they call a journey. The Tellors' Office is but used in England, The Sheyre book of Moneys. which the Wardens deputies execute in other countries, to keep a Sheyre Book of the pieces contained in the mark or pound weight, although the money be delivered by weight and not by tale. For although there be, suppose eight or ten pieces over in 100 ll by tale, it doth encourage the bringer in of Bullion; for the ●●act sizing is not so much to be regarded upon the total in quantity, as upon the equality of weight in pieces: for it happeneth sometimes, that one shilling will weigh one farthing or half penny more in value by the weight, than an other; The cause of culling of money. whereby moneys are culled out and transported, and the light pieces remain amongst his Majesty's subjects: Goldsmiths also wanting Bullion, must melt such moneys down to make plate of. The Bullion which is brought in, or foreign coin either, is always locked up in great chests, or enclosed places under three keys, namely, the Wardens, the Mint-masters, and the Comptrollers: at the days of Receipts which are observed in the Tower of London, saturdays and Mondays, and then the Officers have their diet in the place, the one half at the King's charges, and the other half at the Mint-masters charges, who is called by some, Master-worker of the King moneys, Vel Magister operarius: and between the Warden and him, there is commonly emulation and necessary discord; like unto that which Cato used amongst the servants of his family, which he did compare to the stones of a vault, which by striving do uphold the building, and made him to be more quiet and regarded. Suppose now that we are come to the Mint to see moneys made of our Ingots of Gold and Silver, and one of the Assaymasters cometh unto me and saith, Sir, I have read that all things are governed by Number, Weight, and Measure; What say you to fineness of Gold a●d Silver? I do ask him first, What he taketh fineness to be? he doth answer me, That it is a Mystery, and that the study of it is as intricate, as the Transubstantiation of the Papists Sacrament, as you may perceive (saith he) by the controversy between the Warden of the Mint, and the Mintmaster, concerning the Standards of the sterling moneys of Silver, and the base moneys lately made for the Realm of Ireland, which is grounded upon the fineness of the bullion reported by trial of the subtle Assay, whereunto I do reply, That plain things may be made intricate, Fineness of silver what it is for fineness of Gold and Silver is properly fine Gold and fine Silver, and this is known by weight, which I do thus demonstrate in the Silver for both: Posito, that this piece of Silver is fine Silver, without any mixture of allay, and weigheth one pound weight of twelve ounces Troy: I hope you will call this to be twelve ounces fine, because it weigheth twelve ounces, which is the pound weight and fineness also: now take away one ounce of this fine Silver, and put so much Copper unto it to melt them down, as maketh up the said pound again twelve ounces in weight, you (knowing that there was but eleven ounces of fine Silver remaining) will make no difficulty to affirm that this is eleven ounces fine Silver, and one ounce of copper in the pound weight, and put the same to the trial of your subtle Assay and you shall find it so; is there any Mystery in this? and he saith no, as I did propound it; and so is it if there be more or less allay in the pound weight accordingly: for the pound weight doth proportionate the whole mass, ingot, or lump of bullion call it what you will, as in the next Chapter of assays shall be made more apparent. But, saith he, This doth not clear in my understanding, the business which is in controversy between the Warden and the Master worker: for the Copple or Teast doth drink in some two penny weight of Silver with the Lead, and so there is so much hid from report: Drinking in of the Test or Copple. for the Bullion is that which maketh the moneys, and not the Silver of the assay: So that the said Bullion is finer in every pound weight two penny weight, in value six pence half penny, and the twelfth part of a half penny; which is the cause, that the Master worker (being subtle and cunning) doth put into the melting pot, Two penny weight of copper put in the commixture. Account charged with two penny weight of silver, in every pound weight. Melting Book. Indentures. Base moneys is eight penny weight in the pound of silver Bullion. two penny weight of Copper in every pound, whereby he gaineth the weight of so much sterling Silver; now this gain is the Kings, for with his Highness' moneys, this Bullion is bought of the subjects. And therefore the Warden doth charge the Mint-masters account with two penny weight of Silver in every pound weight, and alloweth the same unto the King, for the Mintmaster is to account by the melting book, where this allay of Copper is entered, according to the Indentures between the King and him. And so in the base moneys made for Ireland, whereof one of Silver maketh four of that moneys, he is charged in account eight penny weight of silver, for every pound of the silver Bullion: for the commixture of two ounces eighteen penny weight of silver, and nine ounces, two penny weight of copper is found to answer that Standard of three ounces fine: And so doth eleven ounces of silver, Standards sterling, and Irish. and one ounce of allay answer the sterling Standard; for there is great consideration to be had, in the calculation of the silver Bullion to the fire and from the fire: From the fire, and to the fire. for eleven ounces from the fire is set down for Standard, to pass according to the indented trial piece, made by the sworn officers, or refiners, and assaymasters, Indented trial pieces of silver sterling and Base. Commixture. thereunto heretofore appointed, whereof myself was one; which indented piece we have commixed accordingly of fine silver, refined upon a dry teast, and good copper or allay, and the same we have divided into three parts; one part to remain in the King's Treasury at Westminster, another part with the Warden of the Mint, and the third part with the Mintmaster to make the moneys thereby, and all these things are done very orderly. There is no reason that the Mintmaster should pocket up this benefit, which cometh almost to ten thousand pounds, and would have been much more, if it had not been spied out in time for the King's service. And then he concluded his speech with an affirmation, That he could take the said two penny weight of silver, out of the copple, which had drunk up the same, or within a little less of it; whereunto I made him such an answer, as I had oftentimes understood of the Mintmaster, and partly of mine own knowledge concerning assays, which I had observed and known above forty years, my father also having been a Mintmaster, and I told him that all his allegations as abovesaid, should and could be very well answered: For albeit that he had alleged many things concerning the State of the matter in question, I would (according to the course of the Common Law) join issue upon one peremptory point, to be tried by all understanding men: to which end I told him, That in Germany and the Low Countries there were certain officers, Generals of the Mints bey●nd ●he Seas. called the Generals of Mints, which did determine such and the like questions and controversies, arising between the Wardens and the Mint-masters, which were men of great knowledge and experience in Mint affairs, and had from the Prince large stipends given them for to attend these M●nt businesses, when the trials of pixes; or of the boxes are made, and the Mint-masters make their accounts with the Prince: Hereupon the said Assay-master, according to his courteous behaviour, was very well pleased to hear me (as he said) in favour of justice and Truth. And so I began to answer gradatim and articularly, as followeth. Drinking up of the copple admitted. First, concerning the drinking up of the copple; albeit that it appeareth unto me (by certain testimonials made beyond the Seas, by Generals, Wardens, Mint-masters, and Assaymasters) that if a copple or teast be well made it drinketh not up any silver at all: yet I will admit that it doth so, because you are so confident, that you can take it out of the copple, or the most part of it, and so I will proceed. Two penny weight of copper acknowledged to be put in. Secondly, I do acknowledge that there is two penny weight of Copper put into the melting pot, as you say, for it is commixed at twenty penny weight, which is a f●ll ounce, where the standard requireth but eighteen penny weight: but this is done to countervail the waist of Copper, which cometh by melting of Bullion, remelting of the Brocage and Scizell, and by working, hammering, often nealing and blaunching of the moneys, whereby the moneys grow better in fineness than they were at the first melting, because so much and more copper doth waste; Wast of copper counteruadeth the copper put in. and can it waste less than ten ounces in one hundreth weight? No surely, which is the cause that the red Book in the Exchequer for Mint affairs admitted this two penny weight for waste, which is but ten ounces in the hundreth. And to say that this two penny weight of silver is the cause that the Mintmaster putteth in two penny weight of copper, Unequal proportion. it carrieth not any proportion to put one for one, when the mixture of the Standard is eleven to one. But you reply unto me, That the Mintmaster is to bear all wastes, and therefore must answer the same, and be charged in account for it; I answer, That the accounts of all Mints are made only upon the fineness of moneys by their weights, and that it was never otherwise used in England until this day: All accounts are taken upon the fine matter only. and if the Warden will bring a new manner of account than ever hath been taken according to the Leidger Book of the Mint, and the Comptrollers Book: then the Mintmaster is to be charged with every thing in his proper nature, silver for silver, and copper for copper; otherwise it were better for him not to put in any copper, than to be made to answer silver for it: But the Mintmaster must hold as well his allay as his fine silver, Alloy to be kept. according to the statute 2. H. 6. ca 2. and in doing otherwise, by not putting in of this two penny weight of copper, the moneys would be too fine, and the Master might incur fine and ransom. Therefore all Mint-masters do work according to their remedies, and they do bear all wastes incident and casual, as if some ingots were falsified with copper within, as hath been found at the Mint, the Mintmaster must bear the adventure of it, Hazard of Mint masters. for Princes will be at a certainty: which is the cause that the Mint-masters may commix at their pleasure thus fare, as the sixteenth Article of the Indenture declareth, That every pound weight Troy shall be in such sort commixed and melted down, that at the casting out of the same into ingots, The Indenture of Eliz Reg. xluj. it shall be and hold eleven ounces two penny weight of fine silver, and eighteen penny weight of allay, every pound containing twelve ounces, every ounce twenty penny weight, and every penny weight twenty four grains, according to the computation of the pound weight Troy of England, which eleven ounces two penny weight of fine silver, and eighteen penny weight of allay in the pound weight of Troy aforesaid, The old right ●●erling Standard. is the old right Standard of the moneys of silver of England: and (that the commixture of the Mintmaster hath been done accordingly, so that it was found so at the casting out) you best know what made the assays thereof from time to time. As for your Melting book where the allay is entered, if you will charge the Mintmaster thereby, let it be done distinctly for silver, and copper, or allay in his proper nature as is said before, and then the controversy is ended. Now let us come to the Standard of the Base moneys made for Ireland: I am sure there is not two penny weight of copper put in, as in the sterling Standard; Silver taken out by division o● the standard of Base moneys but there is two penny weight of silver by computation taken out, in every quarter of a pound of silver, which as you say is eight penny weight of silver in the pound weight; why should the Mint-masters account be charged with this, where silver by the division of the proportion is taken out, and two ounces eighteen penny weight, are taken for three ounces from the fire, as the Indenture declareth? Shall a Mintmaster commix and melt by prescription, or suffer other men to melt it for him, and yet be made to answer for the fineness of moneys according to an indented trial piece, made of refined fine silver (as you say) and receive neither silver answerable in fineness, nor the quantity which he ought to have allowed him according to the Standard▪ I am sure that in the making of these moneys, C●ea● waist of copper. there hath been above forty ounces of copper wasted in one hundreth weight of the moneys made thereof, whereby the Bullion is grown finer, that is to say, These forty ounces of copper being wasted, have left the silver behind, wherewith they were commixed at the first, and so is the said whole mass or bullion so much finer and richer in the proportion, which Arithmetical distribution doth demonstrate unto me, Demonstration Arithmetical. and in this ingot of course silver may prove it unto you: let us suppose it weigheth 16 ll, and containeth 4 ll of silver, and 12 ll of copper, and so may we say it is the fourth part silver; if this ingot now should be made to decrease or diminish 4 ll of copper, and so it should weigh but 12 ll, and therein still contain all the four pound in Silver; may not we justly call this to be richer, and say it is one third part of Silver? and yet there is no more Silver than before, and this we call grown in finesse by the decrease of the mass or proportion: and so two ounces eighteen penny weight of Silver, commixed with nine ounces two penny weight of Copper made into moneys, How Silver doth increase in finesse. becometh to be three ounces fine by the melting of the bullion, remelting of brocage and scizell, and by the working, hammering, often nealing and blaunching, which always in base moneys is very great, as experience hath proved; call you this poketting up of almost ten thousand pounds? Well I am content to join my issue hereupon, and to prove that the Mintmaster hath not pocketed up any benefit or gain at all by this finesse of Silver hid and unreported in the bullion, Above nine thousand pound. but that he hath been a loser of so much as hath been taken from him, by making him to answer Silver for Copper. The commixture of these two standards are contraries, and contraries to work all one effect, is strange unto me: with that he desired me to go with him to the Assay-house to see the assays made of our Silver and Gold, and there to end our discourse, whereof he seemed unto me to be very desirous. CHAP. VII. Of the Assays of Bullion and Moneys. Coming to the Assay-house, there we found diverse gentlemen desirous to see the manner of making of Assays of Gold and Silver, as also diverse Goldsmith's which brought some ingots of Gold, but no Silver at all, and here we were all courteously welcome, and our discourse was interrupted, and the Assay-master desired me to have patience until his business were ended with the Goldsmiths, and so he would make the Assays of our Silver first, and then come to the making of our Gold Assay, which he would first teast before he should put some proportion of it to the trial of strong-water. The little furnaces were fired, and the Assay-master took four copples or teasts, which are made of Bone-ashes, & he did put them in the furnace quater corner wise, with the bottoms upwards, and so let them remain almost an hour until he had made an end with the Goldsmith's Assays, to the end they should be throughly dry, to avoid the springing of the Silver, How to make the Assays of Silver. and then he did turn them upwards: and so cutting off some Silver of our ingots on both sides, he did beat the same very thin with a hammer, and weighing justly the quantity of fifteen grains, he divided the same by even portion of weight into half, and thereunto he took five times so much in thin purged Lead, and winding or inuoluing the Silver therein, he did put the same upon the several copples two to two, and upon the other two he did first put the Lead, and the Silver afterwards when the Lead was melted, making no great difference in this: then with coals he did stop the furnace indifferently, neither too hot nor too cold, until it began to drive, and then he made it hotter, and finding it to appear bright, he brought the copples one after another to the mouth of the furnace, there he let them smoke a little, holding them out and in before he took them out: Then taking off this Silver, he weighed them one against another, and found them alike, whereby he knew his Assay was well made; and then he weighed them both together, and what they weighed less (than before) was Copper wasted. And he reported our Silver to be eleven ounces and four penny weight fine by the true proportion of the pound weight, which is to be taken accordingly in the whole ingot, weighing some forty pound weight; so that every pound of it did contain eleven ounces four penny weight of fine Silver, and sixteen penny weight of Copper, making together twelve ounces for the pound, Troy weight: and so is finesse known by weight, and is properly fine Silver as aforesaid. Hereupon I did ask him, whether the copple had drunk up some little quantity of Silver which might amount to two penny weight in the pound weight of sterling Silver by the computation of Silver of several finesse? and he answered me, it had without all doubt. The other Silver Assay he reported to be but eleven ounces fine. After this, To make the Assays of Gold. he took in like manner fifteen grains of our ingot of Gold, and putting the same to the teast, as aforesaid, to purge the Copper, (which he did with a hotter fire) he did bea● the Gold with a hammer very thin, that he could wind it upon a little stick round, to make it go through the neck of the glass, and to work the better: and hereunto he took twenty grains of very fine Silver in like manner, and put them all together into the vial or glass, and hereupon he did pour some strong-water, and put the same upon coals, and there it did smoke and stand until it did smoak no more, and then it had wrought and separated the Silver from the Gold, which remained whole, and the Silver was turned into water; then he did pour out that water into another glass with rainwater, To divide Silver from strong-water. which divided your Silver from the strong-water again, and weighed the Gold again, reporting the same to be twenty and three Carrats fine, by the calculation upon the balance of his subtle Assay: and then we went up to deliver our Silver and Gold to the Warden of the Mint, whereof entry was made in diverse and several books of the Warden, controller, Mintmaster, and Assay-master; and the Mintmaster did deliver bills of the weight and finesse thereof under his hand to the Warden of the Mint, where we stayed to see our silver molten and cast into ingots, for to be delivered to the moneyers to shire the same by weight into small pieces for twelve pences & six pences: for it was allayed according to the sterling standard, and the Assay-master made another Assay of it (called the pot Assay) and found the same to be standard, The Pot Assay. whereupon we took our leave and departed: and here also he affirmed unto me, that the copple had drunk in the like small proportion of silver. The next week following I went to receive my satisfaction in coined moneys, which were brought up to the Warden, and he perused them, whether they were well coined without cracks or flaws, and as the Monyers brought them up in trays, he took out some pieces not well made and cut them a sunder with a shire, and some pieces he weighed, and then took some other pieces and put them through a hole into a box kept under several keys, and some pieces he delivered to the Assay-master to make trial of. Assay of moneys. And after I had received my money by weight for weight of my bullion, I went to the Assay-master and saw him make an Assay of the said moneys in like manner as the other, with five parts of lead, and hereupon I took occasion to ask him, Trial of the Pixe. whether the last and supreme trial of the moneys (which was made commonly once a year before the Lords at the Star-chamber) was done in like manner? And he answered me, it was, and withal he desired me to resolve the question between the Warden and the Mintmaster, concerning the two penny weight of silver hid from report (as it is supposed) according to our former conference? I told him, that according to the issue joined between him and me, that the Mintmaster had not pocketed up any such two penny weight of silver (as his account was charged withal) I would make that plain by demonstration, which he said was his desire, whereupon I framed my answer as followeth. Four Assays of bullion and money. I make no doubt (sir) but you have marked my observations of the four several Assays made concerning bullion and money, namely, the first of the Ingot before melting, the second of the pot Assay after melting, the third of the moneys complete made thereof, and the fourth and supreme trial of moneys at the Star-chamber (as it were) before the King and his Council, all which (being done in manner alike) you have from time to time told me, that their operation or effect was also alike: for the trial of the Ingot, there the copple had drunk in two penny weight of silver: for the Pot Assay, there two penny weight was drunk in also: the Assay made of the complete moneys hath drunk in the like two penny weight: and last of all the highest trial of all hath drunk in the like two penny weight of silver; how can it then be pocketed up by the Mintmaster, when it was in the bullion, remaining in the pot, found in the moneys, and confirmed to be so by the supremest trial? and why should the Mint-Masters account be charged, either with an imaginary or substantial thing which he never had or enjoyed? A Tacite Resolution. To this the Assay-master answering (rather by signs than words) said, It was otherwise taken and understood, and himself took now better notice of it, and wished that Truth might prevail, according to the saying, Magna est veritas, praevalet, praevaluit & praevalebit; and so ended our supposed discourse. Now let us come to the mysteries of the Mints beyond the seas, to recompense them that might take offence for discussing the premises; and let us be like Nathaniel, in whom there was no guile, Qui vadit planè, vadit sanè; howbeit discretion is requisite. The assays beyond the seas, are most made according to the proportion of the mark, which is eight ounces Troy; and they take twenty grains to make their assays by, which is correspondent with our fifteen grains; Thirty two grains beyond the seas, is more than 24 grains with us. for they divide their English or penny weight in thirty two Asses or grains, which from twenty four unto thirty two, differeth one third part; so is fifteen unto twenty also a third part: For this mark weight of eight ounces is twofold; the one is called English weight, and the other French weight in the Low Countries. But the English weight is most used, which is divided into eight ounces, every ounce twenty English or penny weight, English mark and every English thirty two grains as aforesaid is, 5120 grains to the mark. This mark and one half maketh (within a little) our twelve ounces Troy for the pound weight, being in grains 7680. The French weight called penny weight, is also eight ounces, French mark. every ounce four and twenty penny weight, and every penny weight twenty four grains is, 6912 grains for the twelve ounces, or 4608 grains for the eight ounces. These grains are also divided in twenty four Garobes or Primes, and the Primes in twenty four Seconds, and the Seconds in 24 Tercies or Malloquen, which is superfluous; notwithstanding all the said weights and divisions (to make assays) they use another weight, Assay weight. which every man maketh according to his fancy: but most commonly they will divide the mark in twelve deniers or pence, and the penny into twenty four grains, and then grains subdivided of paper, making ⅛ 1/10 and 1/32 part of a grain, which concurreth nearest with our assay weight; for if one pound of silver do contain 1/12 part copper, they call this eleven deniers fine, as we say eleven ounces fine. For the gold likewise they do use the same weight, accounting for every denier or penny weight two carrats; so twenty four carrats for twelve deniers or ounces, and consequently eleven deniers is twenty two carrats, etc. So the gold mark is twenty four carrats, Gold mark. Silver mark. a carrat is twelve grains, so 288 in the mark: So the silver mark of twelve deniers of twenty four grains, are 288 grains also, which are bigger grains, divided into four Primes or Siliquas is, 1152. They use also a manner of speech to say, Twelve shillings to the mark pound, Mark pound. every shilling twelve pence, and every penny twenty four grains, is 3456 grains in the mark; all which is done to make the knowledge of these things intricate. In like manner for the sheiring of their moneys, Shire moneys they will for every piece make a penny, as if there be made seventy eight pieces out of a mark, they will say it ☞ holdeth six shillings and six pence in the shire, or for 62 pieces five shillings two pence, and so obscure things to take advantage upon others. For the Mint-masters of the Low countries' and Germany, are very experienced in Mint matters, and the assays being made upon the grains, may deceive much if (by trial) the calculation be not rightly made; and if the said Mint-masters were not subtle, yet the Generals, which follow the Prince or State, do nothing else but study these things always: therefore let us observe more particulars of their proceed as followeth. In the making of coins of gold and silver, they will use many times to make pieces of fine gold and courser gold; as the Imperial Royal and the half Royal, the one twenty three carrats 3 ½ grains, and the other but eighteen carrats, or the Flanders Crown of 22 carrats. In Germany the ducat and the gold guildrens, which for works being mixed are serviceable, admitting by connivance the melting of the moneys, rather than for want of it Bullion should not be brought to their Mints, therefore they also take little for the coinage, because it should sooner come unto them than unto other Minters, where the coinage or seignoriage is great: and albeit the same be but small, yet will they find means to make other Princes to pay the same, Moneys made for transportation. and cause moneys to be made for transportation, especially for the East countries to buy corn to bring the same unto their Magazines, whereby trade is increased, and Spain and Portugal supplieth the same, by suffering moneys to be also transported in the return of corn, whereby Customs do also augment. The Box for moneys is kept under three several keys or locks, by the Warden, Mintmaster, and controller; wherein the Warden taketh of every journey of work, one, two, or more pieces, according to his instruction, to make the last trial by before the Lords or Estates. The Mint-masters have some remedies allowed them for the making of moneys, either for being too feeble and under the Standard, Remedies for Mint-masters. or for being better and above Standard. And hereupon they always work by commixing it accordingly, whereof they have an absolute power, wherewith neither the Warden nor the controller are to meddle: for Princes and States will not be upon uncertainties with the Mintmaster, for he must bear all casualties upon their remedies; with certain cautions, That if it be above the said remedies, and feebler one half penny weight, he payeth double; and for the double of that, quadruple; and if it be above that, he is subject over and above to punishment. When the trial of the Box is made, if there be quantity of coin to avoid the multiplicity of assays, motion is made to the Master, whether by one mark indifferently taken of every species of coin, he will be concluded for the whole quantity of the work, whereunto condiscending, the marks are weighed out accordingly, and the pieces are told, and the assay is thereupon made, Privy mark of moneys. and the total work is reported to be accordingly. The like is done in England, observing the works by the privy mark of the Rose, Mallet, Cross or any other, which is recorded in the Exchequer upon the said trials of the pixes. The Assaymasters receiving Bullion of ten or eleven ounces fine, make their assays with five parts of Lead, if it be of six or seven ounces they will take eight parts of Lead, if three or four ounces, Led for the trial of Silver Assays. than fifteen parts of Lead, and if under they will take twenty parts of Lead: But this Lead is first to be purged, because all Lead holdeth some little Silver and Gold as hath been noted. So for Gold (if need be) more strong-water may be added, which may serve once again for trial. Their strong-water called Aqua fortis, Aqua Fort●. is made two parts calcined Vitriol, one part Salniter, and half a part of Allome calcined and distilled as the manner is but for Gold they use Aqua Regis, Aqua Regis. which hath the same proportion as abovesaid, but there is one fourth of a part of sal Armoniake added thereunto; and upon their trials they use to report half a grain for the Master's benefit, which must needs be a grain where fractions are not used in cipher, especially with us, for there is for Silver nothing reported above twelve grains, which is the half penny weight, which is done to have the accounts clearer; and withal, there is no Bullion received in the Mint under nine ounces fine, Base Bullion. whereas beyond the Seas (though it be never so base) it is received, and the rules for calculation are easy and brief; which to avoid prolixity I do here omit. In the melting of Gold, Observations for melting of Gold. observe to melt the same first before you put your Silver allay unto it, and let the finest Gold lie upwards in the crusible or pot, to have less waist and better mixing, for the finest Gold is heaviest and seeketh the centre; let no wind come to your melting pot or crusible for fear of breaking, and take fine Silver for your allay, wherein there is neither Lead, nor Brass, or Latin, which maketh your Gold brittle and bringeth a loss to make the same malleable, albeit to make it tough is no charge. For take but an old shoe, and cut the same into small pieces, and put the same into your crusible, and stop it up with a cover, let it stand upon the fire, & it taketh away the eagerness of Brass: Even as a hot brown loaf of bread cut asunder and clapped over the bom-hole of a hogshead of wine (tasting of the cask) will cure the same of his fowl taste. Goldsmith's are appointed to work Gold of twenty two carrats fine, but the trial is made by the touchstone only, Trial of the Touchstone. with an observation of the rubbing-strokes upon it to be alike and of the same strength, which is worthy the observation, for otherwise you can give no true judgement. There is also an easy scaling of Gold to be made to fall from the Silver, as it was laid on by the means of Quicksilver. To take the figure of coin. To take the figure or print of a piece of coin, take Lampblacke and Vernice, such as the Painters do use, anoint the coin with it, put your paper upon Lead and print thereupon. To refine Gold with Cementation without Strong-water, which is costly. TAke eight pound of Flanders Tiles, three mark Copperas, 1 ½ mark, Allome, ¾ of a mark of Salt, and two ounces Saltpetre; all being mingled and calcined together, take a great crusible, put this Cement one finger thick in the bottom, then lay some of your Gold beaten thin (or if it be golden coin) upon it, and then of your Cement again upon that, and thereupon Gold again, which the Alchemists call Stratum super stratum, and cover your crusible with tiles leaving a little hole: The coin remaineth with the print whole. then begin Lento igne, and afterwards with a great fire let it stand four, five, or more hours, and all the Alloy will be in the Cement; to take the Silver out of the Cement, take four marks Cement, and three mark Potter's Lead; two mark of Tiles, four ounces of Dodecum, four ounces Saltpetre, and do as before: or else you may take out the Silver by quicksilver, as I have declared in the former Chapters. Blanching of Silver. To blanche Silver in a basin of red Copper, which must be done before it be coined; take four gallons of rainwater, two mark of red Tartar or Argall, and one mark salt, cast your Plates (being red hot therein) and stir the same, as you did before in the dissolution until you find the same white enough; and after it is coined than you must colour it, To colour Silver. putting the same into great trays, and with water sprinkling them until they be moist, but not wet; then put the colour upon it tossing and tumbling them, and being put into a Melting pot, let them be red hot, and then cast them into water. To make this colour, take to twenty pound weight of money, three ounces of sal Armoniake, two ounces Saltpetre, half an ounce Verdegreis, and half an ounce Copperas, calcine them together for that purpose, etc. Refining by a great Test. To conclude with the refining of Silver with a great Test, which must be red hot two or three hours, trying the same with Lead if it do not spring, the Test must be for double the quantity of your course Silver, and accordingly you are to take more or less Lead: to drive out three pound of Copper is twenty four pound Led requisite, but is not to be put all at once; then blow until the same do drive off and the Silver remaineth, which take out suddenly, etc. (* ⁎ *) CHAP. VIII. Of the weight and finesse of Moneys, and their several Standards. IT is now twenty years complete since Thomas Lord Knyvet, sir Richard Martin, and diverse other Knights and Aldermen of the city of London, and master john Williams his majesty's Goldsmith, and myself were in Commission, to consider of the Mint affairs of the Tower of London, and of the causes of the transportation of the monies of the realm, and of convenient remedies to prevent the same. The causes were observed to besix, whereof the Weight was the first; next the Finesse of our standard; then the Valuation of moneys, and therein the proportion between Gold and Silver; fourthly the abuse of Exchange for moneys by bills, wherein all the former were included: for we all did set down, that the difference of Weight, Finesse, Valuation, and Disproportion aforesaid, According to our certificate. were not of themselves true causes of Exportation, if there were betwixt countries and country a due course holden in the exchange of money; but that due course not being observed, than they might accidentally becauses. And this course was the cause of the overbalancing of foreign commodities, increased by the immoderate use of them, and neglect to set the people on work; so that the remedy was wholly found to consist in reforming the abuse of Exchange, whereof I have handled at large in the third part of this book for Exchanges. Hereupon conferring the pound weight Troy of 12 ounces with the mark weight of eight ounces, admitting one mark and a half for the said pound, we found, with France full three penny weight, ours to be heavier, and the Low-countries and Germany 2 ½ penny weight or thereabouts, with Scotland four penny weight and nine grains, and always heavier than any other. This agreeth with an instruction declared in an old Book concerning Mint matters in the time of King Edward 3, where it is demanded, What benefit it would be to the King and realm, Over heaviness of the weight Troy. if the Troy weight of this realm, and the Troy weight of France, Flaunders, Spain, and Almaigne, and of other realms and countries were of equal weight and size? For as much as other countries keep one size and weight, whereas the Troy weight of England is heavier in every eight ounces by half a quarter of an ounce. It is answered, that the Merchant that brings in bullion doth lose so much, and the calculation is made what it was for every hundreth weight both for gold and silver, and it followeth there. Wherefore this is one great cause that so little bullion comes into the realm, and therefore may it please the King to device some weight that should be correspondent to the weight of other realms, and call it by some other name than by the Troy weight. And it is there thought meet, that (for information of Merchants and others) a Calendar should be made and published, A Mint Calendar. to show how much every pound weight, ounce, and penny weight is worth, that the true valuation of Gold and Silver may be thereby perfectly known, whereby Merchants and other persons shall give honour and praise to the King and his Council for Equity and justice shown in the Mint. There hath been used from the beginning (in the Mint) both Troy and Tower weight, Tower weight. each of them containing twelve ounces in the pound weight, saving that the Troy weight is heavier by sixteen penny weight upon the pound weight: by which Troy weight the merchants bought their gold and silver abroad, and by the same did deliver it to the King's mint, receiving in counterpeaze but tower weight for Troy, which was the Prince's Prerogative, gaining thereby full three quarters of an ounce in the exchanges of each pound weight converted into moneys, besides the gain of coinage, which did rise to a great revenue, making of thirty pound weight Troy's, thirty and two pound weight Towers; which is now out of use, and the Troy weight is only used, Subdivision of the pound weight Troy. containing twelve ounces, every ounce twenty penny weight, every penny weight twenty and four grains, and every grain twenty mites, every mite twenty and four droicts, every droict twenty periods, every period twenty and four blanks, although superfluous (but in the division of the subtle assay) which in Scotland are all divided by twenty and four, from the denier whereof they reckon twenty and four to the pound Troy, so twenty and four grains, Primes, Seconds, Thirds, and Fourths all by twenty and four. And for the mark and pound weight of other countries I do refer the reader to the fourth chapter of weights and measures of the first part of this book. Concerning the pound weight for finesse and allay, let us note that these two make properly the pound weight, as being distinguished therein: for if it be one pound of fine silver, it weigheth 12 ounces, and it is likewise 12 ounces fine: Division of the pound Troy in finesse. but if there be 2 ounces of copper in that pound, then is there but 10 ounces of silver, and so called 10 ounces fine, and so if there be 10 ounces 16 penny weight of silver, and so called in finesse, then is there one ounce four penny weight in copper; and so for all other finesses accordingly. The like is for the Gold, whereof the said pound is divided into twelve ounces, or twenty and four carrats, being two carrats for one ounce, and every carrat is divided with us into four grains, and finesse accordingly. From this general weight of the pound, General weight. Special weight is derived the special weight of the piece according to the standard, wherein (after that the commixture is made for finesse) the pieces must concur in value, and thereby is the special weight known of the piece, whereby the monyers cut their pieces, The Shire. it being the direction for the shire unto them, which pieces they cut by their weight delivered them accordingly: and herein they are to use good and exact sizing, to prevent the culling of moneys for the transporter, or the goldsmith's for melting them for to convert into plate. Concerning the finesse of the moneys of other countries, with their weight and number of pieces in the Mark of eight ounces, (which I have reduced to the pound Troy of twelve ounces) I have here made a plain declaration as followeth, to instruct all Merchants and Goldsmiths therein, for the common good; observing that some men (not over wise in Mint affairs) perceiving the Mark to be divided into 24 carrats for gold, What 36 carrats fine is. and that one Mark and a half are taken to the pound of 12 ounces, they have done the like for finesse, and (unadvisedly) termed gold thirty and six carrats fine, which is exorbitant of the general observation. Touching the several standards of money in other countries (as you may see by the contents of the said declaration, whereby a man shall many times receive coins of above twenty standards in one hundreth pounds) it is the only fallacy in exchange that can be, whereby no merchant is able to know whether he have the true value of the sum to be paid him: but he is carried with the stream of valuation and toleration of money to go currant, as in the next Chapter shall be declared; and all men commonly have a regard to the great moneys used in every country, making account that other smaller moneys have their true valuation thereafter. As the Philip Dollars of ten ounces fine, Standards of foreign coin and 7 9/04 pieces to the Mark. The Holland Dollars of nine ounces fine, and 8 8/9 pieces in the Mark. The Spanish Royal of eleven ounces four penny weight, and nine pieces the Mark. The Gueldres and Frizeland Dollars of ten ounces four penny weight, and 9 ●/2 pieces. The Shillings of Zealand of six ounces fine, and thirty and eight pieces the Mark. The Golden Royal of twenty and three carrats 3 ½ grains fine, and forty and six pieces the Mark. The French Crown of twenty and two carrats fine, and seventy and two pieces in the Mark. The golden Rider of the States of twenty and two carrats, and twenty and four in the Mark. The Albertins or Ducats of Albertus of twenty and three carrats, 3 ½ grains fine, and being seventy pieces in the Mark, or thirty and five double pieces. And their daily new coins which they make of several standards which requireth a vigilant eye: but we have shunned industry and labour, which is the cause that (contrary to my first intention) I abbreviate some things. A Declaration of the coins of gold, concerning their finesse, and number of pieces in the pound weight of twelve ounces Troy, every ounce containing twenty penny weight, and every penny weight twenty and four grains in weight, and in finesse twenty and four carrats, and every carrat four grains; calculated for the foreign coin upon the mark weight of eight ounces, every ounce twenty English, and every English thirty and two azes for the pound weight, and in finesse twenty and four carrats, and every carrat twelve grains, unnecessary fractions omitted. THe imperial Royal of gold always accounted equal with the English Angel in finesse, and in weight but a little differing of twenty and three carrats, three grains ½, and sixty and nine pieces weighing twelve ounces Troy. The half Royal is but eighteen carrats in finesse, and 105 ⅓ pieces to the pound weight. The Carolus Guildrens being ⅔ parts of it, but fourteen carrats fine, and 126 pieces. The Rose Noble of England twenty and three carrats 3 ¾ grains fine, and 46 ¾ pieces to the pound. The double Royal of Austria of twenty and three carrats 3 ½ grains fine, and 24 ¾ pieces to the pound. The Nobles of Holland, Vtrech and Ouerrysel twenty and three carrats, three grains, and forty and eight pieces. The gold Guildrens of eighteen carrats, three grains scarce in finesse, and 112 ½ pieces. The half Noble or Hungary Ducat, twenty and three carrats, 3 ⅙ grains fine, and 113 ½ pieces. The Bishop's ducat fine twenty and three carrats' ½, and 105 pieces to the pound weight. The Ducats of Italy, Venice, Turkey, and Rome twenty and three carrats, three grains, and 106 ½ pieces: other Italian ducats, and the ducats of Gelder's twenty and three carrats, one grain, and 106 ½ pieces. The Angel of England of Queen Elizabeth twenty and three carrats, 3 ½ grains, and seventy two pieces. The Sovereign of the said Queen, twenty and two carrats fine, and sixty pieces to the pound. The old Sovereigns of more weight, twenty and two carrats fine, and 54 ¾ pieces. The half Sovereign fine but twenty carrats, and 120 pieces to the pound. The Angel with the O. is but 23 carrats fine, and 72 scarce to the pound. The Angel with three Lions 22 carrat fine, and 76 pieces to the pound weight. The half Noble, with the Lions and the Noble of Bridges 23 carrats, and 88 ½ pieces. The Andrew Guilder fine eighteen carrats, three grains, and one grain, some pieces 108. The Gulielmus Gilder fine eighteen carrats, one grain, and 108 pieces to the pound. The Gold Guilder of the States twenty carrats fine, and 120 ¾ pieces to the pound. The Golden Fleece or Toyson d' or 23 carrats three grains ¼ and 81 ⅙ pieces. The Phillip's Guildrens fine fifteen carrats three grains, and 111 pieces to the pound. The joannes Guildrens fine sixteen carrats, and 109 ½ pieces to the pound. The Nobles of Gaunt and Zealand twenty three carrats fine, and fifty four pieces. The half Imperial Crown twenty two carrats, 1 ½ grains, and 107 ½ pieces. The Henricus Noble of England twenty three carrats 3 ½ grains, and 53 ¾ pieces. The old English Crown somewhat better than twenty two carrats fine, and 100 ½ pieces. The Henry Noble of France twenty two carrats fine, and fifty one pieces to the pound. The half Henry Noble fine twenty two carrats, 2 ½ grains, and 108 pieces to the pound. The Floret Crown of France twenty three carrats, 3 grains, and 100 ½ pieces. The Charles French Crown twenty three carrats, three grains fine, and 100 ½ pieces. The Floret of France standing twenty two carrats, and 100 ½ pieces to the pound. The old Golden Lion of Flanders twenty three carrats, three grains, and 79 ¾ pieces. The ducat of Castille twenty three carrats, three grains fine, and 79 ¾ pieces likewise. The Spanish ducat 23 carrats, two grains fine, and 105 pieces to the pound. The Holland ducat twenty three carrats, two grains fine, and 105 pieces likewise. The double ducat of Zealand twenty three carrats ½ fine, and 52 ½ pieces to the pound. The ducats of Navarre, Majorca, and others twenty three carrats, one grain, and 52 ½ pieces. The Spanish Pistolets twenty two carrats fine, and 108 pieces to the pound. The Milreys' ducat of Portugal twenty two carrats, one grain fine, and forty eight pieces to the pound. The Contrefait Milreys is but twenty one carrat fine, and likewise forty eight pieces. The Emanuel ducat of Portugal twenty three carrats, 3 grains, and 105 pieces to the pound. The Emanuel great Crusate of Portugal twenty three carrats, three grains, and 10 ½ pieces. The joannes great Crusate is but twenty two carrats, three grains fine, and 10 ½ pieces. The ducat, with the short Cross of Portugal twenty two carrats, three grains, and 105 pieces. The ducat, with the long Cross twenty two carrats, one grain fine, and likewise 105 pieces. The ducat with the long Cross of Batenborgh nineteen carrats fine, and 105 pieces. The Pistolets of Italy twenty two carrats, and some twenty one carrat 2 ½ grains, and 108 pieces. The Flemish Rider twenty three carrats, three grains fine, and 105 pieces to the pound. The Guilders and Vrisland Riders, of the year 1583 fine, twenty one carrats, and 108 pieces. The Rider of Burgandie twenty three carrats ½ fine, and 105 pieces to the pound. The English Salut and the half, twenty three carrats, three grains, and 108 pieces. The Schuytken or Ship of Flanders twenty two carrats, one grain fine, and 109 ½ pieces. The Rider of Guilders Of fourteen carrats fine, and 114 pieces to the pound. The Philip Clincart Of fourteen carrats fine, and 114 pieces to the pound. The Rider of Deventer, Campen, and Swoll twelve carrats, three grains, and 114 pieces. David guil. Of Trier is 17 carrats, 2 grains and 114 pieces to the pound weight. Of Vtrecht 16 carrats fine— and 114 pieces to the pound weight. Of the Harp 15 carrats fine— and 114 pieces to the pound weight. The Peter of Louvain of 17 ½ carrats fine, and likewise 114 pieces to the pound. The Clemmer guilder of 13 carrats fine and 114 pieces. The Frederick of Beyeren guilder fourteen carrats, and 117 pieces to the pound. The Arnaldus guilder twelve carrats fine, and 138 pieces to the pound. The Postulat of Bourbon 12 ½ carrats fine, and 136 ½ pieces to the pound. The Postulats— Of Horn— 10 ½ Carrats— fine, & 156 pieces to the pound Of Guliers— 9 Carrats 3 grains fine, & 156 pieces to the pound Of Cleve— 9 Carrats ½ grains fine, & 156 pieces to the pound Of Fran. Friar— 9 Carrats— fine, & 156 pieces to the pound Of the Dog and Cat 12 ½ carrat fine, and 136 ½ pieces. The nine Stivers pieces of Batenborgh and Frise, seven carrats, one grain, and 176 pieces. The Gulielmus ducat of Batenborgh twenty one carrats, three grains, and 52 ½ pieces. The other ducat of Stephanus, but nineteen carrats' ½ grain, and 52 ½ pieces. The ducat of Nimeghen with Stephen, twenty one carrats, one grain, and 52 ½ pieces. The new ducats of Saint Victor Pancratius, Vict. Batenborgh, W. B. Margarite Toren, Petrus Rechem, George Rechem, twenty one carrats, three grains, and 106 ½ pieces. The ducats Victor H. B. 20 ½ Carrats fine and all 106 ½ pieces to the pound. Water ducats and the ½ 20 ½ Carrats fine and all 106 ½ pieces to the pound. Marry of Batenborgh 20 ½ Carrats fine and all 106 ½ pieces to the pound. Ducat with the Chequer 20 Carrats fine and all 106 ½ pieces to the pound. Ducat of Denmark 20 Carrats fine and all 106 ½ pieces to the pound. Pancratius Alleb. H. 19 ½ Carrats fine and all 106 ½ pieces to the pound. Oswald ducat Cusa— 19 ½ Carrats fine and all 106 ½ pieces to the pound. The Ducat of Nimmeghen 1569 fine, eighteen carrats, two grains, and 108 pieces. New angels coined heretofore— Of Thoren- 22 Carrats 1 ½ grains And all 72 pieces to the pound. Of Horn— 22 Carrats 1 ½ grains And all 72 pieces to the pound. Of Batenb. 21 Carrats 3 grains And all 72 pieces to the pound. Of Viana— 18 Carrats 3 grains And all 72 pieces to the pound. Of H. M— 17 Carrats— And all 72 pieces to the pound. The Scots Pistolet nineteen carrats, two grains ½ fine, and 108 pieces to the pound. The Rider with the Loaves fine 10 ½ carrats, and 114 pieces to the pound. The Pistolets, Dilege and Legion, fine, eighteen carrats, and 108 pieces to the pound. The ducats Ferdinand of Batenborgh 19 ½ carrats, and 106 ½ pieces to the pound. The ducats Ferdinand and Carolus of Horn eighteen carrats, and 106 ½ pieces to the pound. The double ducat of Albertus of Austria twenty three carrats, 3 grains fine, 52 ½ pieces. The single ducat of Albertus of Austria twenty three carrats, three grains, and 78 ¾ pieces. The double third parts of the said double ducats twenty three carrats, three grains, and 70 ½ pieces. The single third part of the said ducat twenty three carrats, three grains, and 126 pieces to the pound. The Unite piece, called jacobus of England twenty two carrats, and thirty six pieces to the pound. The Rider of the unite Low Provinces also twenty two carrats, and 36 pieces to the pound. The half jacobus and Riders accordingly in fineness and pieces. The ducats of the Estates of the united Provinces, with the Letters, 22 carrats, and 105 pieces. The new twenty shilling pieces of England twenty two carrats fine, and 39 ⅗ pieces. The half and fourth part of it accordingly. The Scots piece of the Cross Daggers twenty two carrats fine, and 72 pieces to the pound. The Scots Rider of twenty two carrats, and some of the fineness of the Scots Pistolet. Note, that here are set down many Species or Pieces of gold, which are little or none at all to be found: And although some are found in great quantity; yet are they not made currant in the united Provinces, by their last valuation of the one & twentith day of july 1622 hereafter declared. The like is in the Reconciled Provinces under the Archdutches Isabel Clara Eugenia of Austria, as also in Germany: so that the general knowledge of them all, may give to every man better satisfaction. And the like must be understood of the Silver Coins of all countries' hereafter declared, with some addition of mere Copper Coins. And whereas the Stiver is the fundamental Coin, whereof twenty make the Guilder, it is to be observed, That sixteen Copper pence are reckoned in Holland and those united Provinces for one Stiver, and so is the said Stiver two Groats Flemish, called half Stivers, every half Stiver eight pence Hollandts: also twenty four Mites is a Stiver in the other countries', etc. A Declaration of the coins of Silver, concerning their finesse, and number of pieces in the pound weight of twelve ounces Troy, every ounce weighing twenty penny weight, and every penny weight twenty and four grains, and containing likewise in finesse twelve ounces, every ounce twenty penny weight, and every penny weight twenty and four grains; calculated for the foreign coin upon the mark weight of eight ounces, every ounce twenty penny weight, and every penny weight twenty and four grains in weight, and likewise in finesse twelve ounces twenty penny weight, and 24 grains, unnecessary fractions omitted, as near as conveniently could be computated etc. THe Philip Doller ten ounces fine, and 10 5/7 pieces to the pound weight. The half, the fourth, the fifth, and tenth part accordingly, that is to say, all of ten ounces fine, and pieces 21 3/7, 42 6/7, 53 4/7, and 107 1/7 to the pound▪ The twentieth part of the said Doller five ounces fine, and 107 ¼ pieces to the pound. The fortieth part of the said Doller, five ounces fine, and 214 ½ pieces to the pound. The Carolus Gueldrens or ⅔ of the said Doller, ten ounces fine, and 16 1¼ pieces. The old four Styvers piece with the Eagle, Charles and Philip, seven ounces, 7 ½ penny fine, and sixty pieces. The old double Styver seven ounces, 7 ½ penny weight in finesse, and 120 pieces. The old three Styvers piece, eleven ounces, three penny weight, eighteen grains fine, and 120 pieces to the pound. The silver Fleece of three Styvers, ten ounces, ten penny weight, and 108 pieces. The three groot or Deniers fine, five ounces, ten penny weight, and 117 ¾ pieces. The old Styver of three ounces, fourteen penny weight, four grains, and 120 pieces. The new Styver following, three ounces, thirteen penny weight, eight grains, and 120 pieces. The 17 Duyts, ten ounces, ten penny weight fine, and 147 pieces. The half Styver, three ounces, ten penny weight, and 201 pieces to the pound. The quarter Styver Oort, one ounce, 17 ½ penny weight, and 158 pieces. The eight part Stiver Duyt fine, one ounce, fourteen penny weight, and 474 pieces. The Hollandts penny fine, 19 penny weight, and 518 pieces. The Styver of the States United, 4 ounces fine, and 168 pieces. The Styver of Vtrecht, three ounces fine, and 167 pieces. The nine Duyts penny of Charles and Philip, four ounces, fourteen penny weight, 129 pieces. The half Ruyters blank, four ounces, fourteen penny weight, and 256 pieces. The Brass penny and the half, four ounces, ten penny weight, and 120 pieces. The Spanish rials fine, eleven ounces, 3 ½ penny weight, and 108 pieces. The Saluator and Ryall of Venice, eleven ounces, ten penny weight, and 96 pieces. The Italian rials of nine ounces seventeen penny, and nine ounces 14 penny, and nine ounces eleven penny, pieces 108. The course Romish rials of seven ounces fine, and 108 pieces. The eleven Duyts of Charles Limb. four ounces, fifteen penny weight, and 120 pieces. The 11 Duyts of Holland, six ounces scarce, and 144 pieces. The half Ruyters blank of Holland, 3 ounces fine, & 144 pieces The five Groot of Flanders, and double Sassenars, ten ounces, 6 ½ penny, and 146 ½ pieces. The 5 Groot of Gaunt, 5 ounces, 13 penny weight, and 145 pieces The 17 Duyts of Lodovick, Liege, Philip, Gelder's, Charles, Limborgh, Philip of Flaunders, two standing Lions, nine ounces ½ fine, and 145 pieces. The 17 Duyts of Sluice, 9 ounces, 5 penny weight, and 148 pieces. The double Vierysers fine, four ounces, ten penny weight, and 138 pieces to the pound. The Snaphanen coined for three Bats, seven ounces, 7 ½ penny weight, and 39 ¾ pieces. The Creuciat of john of Cleave, eight ounces, seven penny weight fine, and 39 ¾ pieces. The five Styver piece of Liege, seven ounces, eleven penny weight fine, and 48 pieces. The five Styver piece of Gueldres, eight ounces, 1 ½ penny weight, and 48 pieces. The Snaphane of Nimegen, Deventer, and Cleave, seven ounces, eleven penny weight, and 48 pieces. The Shilling M. E. ●nd five Groots Philip of Flanders, eleven ounces, three penny, and 135 pieces. The other five Groot of Philip of Flanders, ten ounces, fourteen penny weight, four grains, and 135 pieces. The five Styver of Cambray, Liege, Horn, six ounces, 6 ½ penny weight, 48 and 51 pieces. The Shillings of Gueldres, Vtrecht, Frieze, and Zealand, 1586 fine six ounces, and 57 pieces. The Shilling of Bridges, 1582 fine, five ounces, and 57 pieces to the pound. The Shilling of Gaunt 1583 fine, seven ounces, seven penny weight, and 54 pieces. The Styver of Gant 1583 fine, three ounces, and 175 ½ pieces. The Styvers of Groeninghen, Cambray, and Liege, fine three ounces, five penny weight, and 135 pieces. The eleven Duyts of Philip and Marie, eleven ounces, 3 ½ penny fine, and 270 pieces. The Ferdinand of tirol ten ounces, 7 ½ penny weight, and 270 pieces. The pieces of 5 ½ Groot of 1520, and Ma. Flanders nine ounces, fourteen penny weight, and 120 pieces. Dollars The Doller of the States nine ounces fine, and 12 1/64 pieces to the pound weight. The Hollandts Doller nine ounces fine, and 13 ⅓ pieces to the ll. The Dollars of Gueldres and Vtrecht nine ounces fine, and fifteen pieces to the pound. The Dollars of Zutphen and Gueldres 1586 fine, ten ounces, four penny, and 13 ⅔ pieces. The Hollandts Doller with the Crown 8 ounces, and 13 5/3 pieces. The Rickx Doller Oncia eleven ounces, five penny weight, and 12 ½ pieces. The other sorts of Rickx Dollars of eleven ounces, and eleven ounces three penny, and 12 ½ pieces. The Poland Doller fine, seven ounces, fifteen penny weight, and 13 ½ pieces. The Bohemia Ne. Op. fine, seven ounces, fifteen penny weight, and 13 ½ pieces. The Batenborgh Dol. fine, seven ounces, fifteen penny weight, and 13 ½ pieces. The bommel Doller. fine, seven ounces, fifteen penny weight, and 13 ½ pieces. The Polish Gelder of sixty Creutzer, eleven ounces, 3 ½ penny fine, and fifteen pieces. The Dollars of Brisgau, Tremone ten ounces, fifteen penny weight fine, and fifteen pieces. The Dollars of Luneborgh ten ounces, sixteen penny ½ fine, and fifteen pieces. The basel sixty Creutzer, Reynsborch, and Ismensen ten ounces, 13 ½ penny, and fifteen pieces. The Doller of Riga ten ounces, 2 ½ penny weight, & 13 ½ pieces Teastons. Of Mantua, Francis— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Ferrara, Hercules and Alphonsus fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Berne, Vincent— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Ottomanus Berne— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Lucerne, Episcopus— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Milan, Lodovicus— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Milan, Galeacius— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Friborgh, Nicolas— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Sedun, Nicol. dan Adrian— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Solod, Vrsus— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Savoye, Carolus— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Of Castille— fine eleven ounces, 5 ⅙ penny weight, and 45 pieces. Teastons. Of Portugal Io. V.L. ten ounces, seven penny weight fine, and forty and two pieces to the pound. Of France Franciscus ten ounces, seven penny weight fine, and forty and two pieces to the pound. Of Lorraine an. 1524. & 29. ten ounces, seven penny weight fine, and forty and two pieces to the pound. Of Spain, Ferdinand ten ounces, 10 ½ penny weight fine, and 39 pieces. Of Navarre, Anna ten ounces, 10 ½ penny weight fine, and 39 pieces. Of Baden, Chrisostome ten ounces, 10 ½ penny weight fine, and 39 pieces. Of Savoy, Carolus ten ounces, 10 ½ penny weight fine, and 39 pieces. Of Navarre, Henricus ten ounces, 10 ½ penny weight fine, and 39 pieces. Of Monserat, George and Guill. ten ounces, 4 ½ penny weight fine, and 42 pieces. Of Geneva,— ten ounces, 4 ½ penny weight fine, and 42 pieces. The Quarter Crowns. Of France 4 Escu of ten ounces, 6 ⅔ penny fine, and 39 pieces to the pound. Of Lorraine fine nine ounces, 8 ½ penny weight, and 39 pieces to the pound. Of Savoy Philip, ten ounces, 16 ½ penny weight, and 39 pieces to the pound. The Rickx Doller of late Anno 1567. fine ten ounces, 12 13 and 14 penny fine, and 12 ½ pieces. The piece of Cambray 1/10 of a Doller six ounces, ten penny weight, and 123 pieces. The 38 Gustave of Liege ten ounces, four penny weight scarce, and pieces 12 ¾. The Christopher Doller 45 10 ½ ounces fine, and 12 ¾ pieces. The Doller Guliel. Sweaden 10 ½ ounces fine, and 12 ¾ pieces. The Angel of Scrickelborgh ten ounces, 7 ½ penny weight, and 78 ¾ pieces. The ten Creutzer of Salsborgh, Ravenborgh, Frise, and Saxony eight ounces, seven penny, and 64 ½ pieces. The three Carolus of Frankford, Campidona, Reynsborch, Patavia, Ernestus, Otingus, Carolus and Salsborgh nine ounces fine, and 78 ¾ pieces. The six Creutzer of Insborgh 10 ½ ounces fine, and 124 ½ pieces. The Gross of Salsborgh four ounces, 12 ½ penny weight, and 39 pieces. Batsen of four Creutzers' fine, five ounces, seven penny weight and 109 ½ pieces. Of Fribourgh, Colmograve, fine, five ounces, seven penny weight and 109 ½ pieces. Raynsbourgh, Taunte, fine, five ounces, seven penny weight and 109 ½ pieces. Cost 1530, Roy, and fine, five ounces, seven penny weight and 109 ½ pieces. Schafhuysen, Baviere, fine, five ounces, seven penny weight and 109 ½ pieces. Brandebourgh, Ottinge. fine, five ounces, seven penny weight and 109 ½ pieces. The Ausb. Saxon Grosse, and Coniugsteyn five ounces, seven penny fine, and 108 pieces. The Curiensis gross, Kempton, Bassau, and Brisae, five ounces, seven pence, and 106 ½ pieces. Of Noiling, Ambass. Markegrave, George and Wormeser, four ounces, 12 ½ penny, and 94 ½ pieces. The Gross of Salsbourgh, six ounces 2 ½ penny weight, and 118 ½ pieces. The Gross of Viena, six ounces, four penny weight, and 132 pieces. Of Ausbourgh and Reynsbourgh, six ounces 4 ½ penny fine, and 155 pieces. Of Carinthia, Taven, Basell, Shaf-huysen, Campido and Brisgrave, six ounces, and 118 ●/2 pieces. Nummi dram, six ounces fine, and 140 pieces. Nummi dram, six ounces, 2 1/● penny fine, and 118 ½ pieces. The Gulielmus of Turinghia, six ounces, fifteen penny weight, and 129 pieces. The Bohemia Senube and the half, 5 ounces, seven penny fine, and 129 pieces. The 1 ½ silver Grosse, three ounces 7 ½ penny weight, and eighty seven pieces. The Kempter ½ Batts, four ounces 12 ½ penny weight, 192 ½ pieces. The Munichen ½ Batts, four ounces, ●2 ½ penny fine, and 186 pieces. The Gulielmus Lion piece, two ounces, five penny weight fine, and 150, and 179 pieces. Pieces of twelve Creutzers, eight ounces, 7 ½ penny weight, and 61 ½ pieces to the pound. Of Viena, and Baviere of twelve Creutzers, eight ounces, 7 ½ penny fine, and 57 pieces. Of twelve Creutzers ten ounces, ten penny weight fine, and 61 ½ pieces. Of six Creutzers, ten ounces, ten penny weight fine, and 123 pieces. Of three Creutzers, five ounces, ten penny fine, and 136 1/● pieces. Of six Creutzers of Viena, eight ounces, 7 ½ penny fine, and 114 pieces. Of three Creutzers of Viena, four ounces, 8 ⅓ penny weight fine, and 129 pieces. Of three Creutzers of Baviere, four ounces, eight penny weight, and 375 pieces. Of Ausbourgh and V●me Creutzers 5 ounces, 5 penny weight, and pieces 384. Albi of Coloigne, Mentz, and Trier, 5 ½ ounces fine, and 345, 179, and 342 pieces. Albi of Norenbourgh, Frankford, Bambourgh, and Palatin Rhine, four ounces, eighteen penny, and 273 pieces. Bohemia white penny, five ounces, seven penny weight fine, and 924 pieces. Bohemia black penny, two ounces, 13 ½ penny fine, and 990 pieces. Dupli Mavi 1/9; of Gulielmus Turinghia, two ounces, fifteen penny weight, and 440 pieces. Simpli dupli of five ounces ten penny weight, and 882 pieces. The 1/1● of one silver gross, or duodena, three ounces 3 ⅔ penny weight, and 874 ½ pieces. Duplus of two ounces fine, and 324 pieces to the pound. The six gross of Polonia, six ounces fine, and 13 7/8 pieces to the pound. The Sigismond of Prussia 1534, 10 ounces, 11 penny weight fine, and 69 pieces. The other with the Arms of Dansicke, 10 ounces ½ penny fine, and 69 pieces. The Sigismond 1532, and 1535, but 10 ounces, four penny weight fine, and 69 pieces. The four gross penny, eight ounces fine, and 81 pieces. The three gross Prussia alb. 10 ounces, 10 ½ penny fine, and 138 pieces. The same of Melicin 1340, of 10 ounces four penny, and 10 penny fine, and 138 pieces. The gross of Prague, nine ounces 12 ½ penny fine, and 180 pieces. The Ferdinand of Dansicke, 5 ounces fine, and 180 pieces. The Wersbourgh soli of Dans and Prussia, 5 ounces 6 ¼ penny, and 157 ½ pieces. The two Crosses and Har, four ounces fine, and 180 pieces. The Bre 1499, the Key and joan, three styvers, ten ounces, four penny fine, and 156 pieces. The eight Shilling of Dansicke 1541 fine, ten ounces, twelve penny, and 156 pieces. The Deghen of Russia, Moscovia, and de Narde, eleven ounces, thirteen penny weight, and 545 ⅓ pieces or Dengen. The mark stick of Lubeck, Lady Marie ten ounces 16 ⅔ penny, and twenty seven pieces. The three Arms of Magenbourgh, five ounces 8 ⅓ penny, and twenty seven pieces. The other piece of eleven ounces, 3 ½ penny weight, and fifty one pieces. The Franks of France, three to one Crown, ten ounces fine, and 26 ¼ pieces. The Turones of France, ten ounces, eighteen penny weight, and 26 ¼ pieces. The French two sou, and four sou, six ounces 6 ⅔ penny fine, and 117 pieces. The double H and of one Sou, three ounces, fifteen penny fine, and 132 pieces. The old sou with ✚, four ounces, five penny weight fine, and 175 pieces. The ordinary French sou, three ounces ten penny fine, and 147 pieces. The late French sou, three ounces 6 ½ penny fine, and 147 pieces. The Lyarts of France H. three ounces fine Scarce. The Petty denier, Pa. and Petty denier Tor. one ounce ½, and 270, and 337 ½ pieces. Petty Maille were one ounce fine, and 450 peecs, and now all Copper. The shilling of England of Queen Elizabeth, eleven ounces, two penny fine, and sixty pieces. The English groats, eleven ounces, two penny weight, and 129 pieces. The English shilling of late, eleven ounces fine, and sixty two pieces to the pound. The piece of nine pence, called silver Harp, eleven ounces fine, and eighty two pieces. The Base Irish Harp, three ounces fine, and eighty two pieces. The Old Harp, nine ounces, six penny weight fine, and 102 pieces. The King Henry base groat, four ounces, two penny weight fine, and pieces. The English six pence or half shilling, eleven ounces fine, and 124 pieces. The penny, two pence, and half penny accordingly. The three Ryall pieces of Albertus of Austria, ten ounces, fifteen penny fine, and forty pieces. The single rials, the half, and the fourth parts accordingly. The double Guilder of Albertus, ten ounces, 15 penny weight, and 14 ⅗ pieces. The single Guilder, the half and quarters of the same fineness, and pieces accordingly. The pieces of four, two, and one Stiver since 1590. The pieces of eight rials of Spain, of eleven ounces, four penny weight, and 13 ½ pieces. The said pieces made at Mexico in the Indies, eleven ounces fine, and 13 ⅔ pieces. The Lion Doller of the Prince of Orange, of nine ounces fine, and thirteen pieces. The silver Ryder of Guilders and Friesland, correspondent with the States Doller of nine ounces. The Dollars of Gelder's and Vtrecht, ten ounces, ten and twelve penny fine, and thirteen pieces. The great silver Royal of the States correspondent with the Philip Doller. The 1/20 part of the said great Royal, with the Arrows accordingly. The Doller of Zealand, with the Eagles of nine ounces fine, and 13 ½ pieces. The Edward Doller of England, of eleven ounces two penny weight fine, and 11 ¾ pieces. The Doller of Scotland with the cross Daggers, eleven ounces, two penny weight fine, and 11 ¾ pieces. The Mark of Scotland eleven ounces two penny weight fine, and 54 pieces. The Doller of Friesland coined 1601, of nine ounces fine, and 13 ½ pieces. Coins made of mere Copper. THe Ortgens, whereof four make one Stiver, and two the half Stiver. The Duyts also four make one Stiver. The Negenmannekens, the eight make a Stiver, and four the half Stiver. The three Mites, whereof eight pieces to the Stiver is 24 Mites. The sixteen pence Hollandts make one Stiver, and eight the half Stiver. For other Copper Moneys, read the fifth precedent Chapter of Moneys. Error of Trial pieces for the Standard. So I do conclude this Chapter, with an error committed in the making of the Standard Trial Pieces, used in most Kingdoms and States to charge the Mint-masters to make the Moneys by; wherein they do not proceed according to the Rule of Arithmetic, by observing true weight and fineness. For if it be appointed to make a Standard piece of ten ounces fine, they will take certain ounces of fine Silver and Copper proportionable thereunto, and melt them together, and being made into a plate of Silver, divide the same into three equal parts to be delivered, one to the King, another to the Warden, and the third to the Mintmaster; and hereof are Assays made both of this piece and the moneys, and so compared together. As if a man should take eleven ounces two penny weight of fine Silver, and eighteen penny weight of Copper, both in weight and melt them together, making twelve ounces by weight, and never weight them after they be commixed: But say this is sterling Standard, whereas the weight, both of the one and of the other doth proportionate the Standard by weight, for in regard of the waste of copper this is better than Standard, and aught to be made exactly: so that the pieces also are to be correspondent to the pound weight, for the foundation riseth from hence, as in the following Chapter appeareth. CHAP. IX. Of the Valuation of Moneys, and the Proportion between Gold and Silver. VAluation of Moneys is the Spirit which giveth life unto coins, for without it, weight and fineness are in the nature of Bullion or Materials. This Valuation is twofold: Two fold is the valuation of moneys. the first is done by public authority of Princes and States, whereby the pieces of coins are esteemed at a price certain, both for Gold and Silver, to go currant for that value within their kingdoms and dominions: the second, is the Valuation of Merchants by way of Exchange between us and other nations, which is predominant and overruleth the former, as heretofore hath been touched, and now will be proved. The Kings or Prince's Valuation is effected three manner of ways, King's valuation. viz. by enhancing the price of the coin, by Proclamation; secondly, by embeasiling the standard of money by allay; and thirdly, by altering the proportion between Gold and Silver. The Merchant's Valuation is also effected three manner of ways, Merchant's valuation. viz. by the price of Exchange for moneys rising and falling from time to time; by the toleration of the coins at a higher rate between them; and by the combination with Mint-masters, inhanceing the price of the Mark of Gold and Silver. Of all these in order briefly. The King's Valuation is derived or drawn from the very piece or pieces made out of the pound weight of twelve ounces, or the mark of eight ounces, which the Romans did call Nummus à numerando, to tell or reckon by. The Saxons gave it the name Pfemimg, or Pennimick in Ducth, from whence the word penny is derived: for they cutting twenty pieces out of the pound Troy of twelve ounces, made twenty pence every way, that is to say, twenty pence in weight, twenty pence in value; Weight and finesse both alike with the number of pieces. and consequently dividing the fineness also by twenty penny weight, and every penny weight in twenty and four grains, which was the ancient sterling standard of Osbright the Saxon King, seven hundreth years past: which Valuation so continued until King Edward the third, and until Henry the sixth, and then was valued at thirty pence the said ounce, and continued until Edward the fourth, The ounce of silver advanced because of the inhancing of money beyond the seas. and then valued at forty pence, and so continued until King Henry the eight, and then was valued at forty and five pence, and so continued until Queen Elizabeth, who (after the decry of the base money made by King Edward the sixth, which King Henry his father had caused to be coined) did restore the sterling standard to her great benefit, by valuing the said ounce at sixty pence, or 5 ss, enhancing the same one full third part; so that one of those pence became three pence by valuation: and Gold was raised according to the proportion of eleven of fine Silver to one of fine Gold; or eleven of standard Silver, to one of Crown Gold, which valuation of Silver hath continued hitherto, with little alteration. But beyond the seas there hath been great inhancing, both for the coins of silver and gold, as well in France as in the Low-countries, and Germany, to England's incredible loss, as is at large declared in our * The Canker of England's Commonwealth. Treatise of Exchange. This (daily) enhancing beyond the seas began in the time of King Henry the eight, who went about to reform the same: but afterwards finding that if he should enhance his price of moneys, likewise they would still advance theirs more and more, he began but moderately; and whereas the Angel Noble (so called) was at six shillings eight pence, Angel Noble enhanced. he ●aused the same to be valued at seven shillings and four pence, by a Proclamation in the eighteenth year of his reign, and within two months after at seven shillings six pence, and withal he did write unto other Princes concerning the same, and Commissioners came over about it, but all was in vain; whereupon he gave an absolute authority to Cardinal Wolsey by letters patents as followeth. HENRY the eight, by the grace of God, King of England and of France, defender of the Faith, Lord of Ireland, to the most reverend Father in God, our most trusty and most entirely beloved Councillor, the Lord Thomas, Cardinal of York, Archbishop, Legat de Leicester of the See Apostolic, Primate of England, and our Chancellor of the same, greeting. For as much as coins of moneys, as well of gold as of silver, be of late days raised and enhanced both in the realm of France, Francis the French King, and Charles the fifth Emperor. as also in the Emperors Low-countries, and in other parts, unto higher prices than the very poiz weight and finesse and valuation of the same, and otherwise than they were accustomed to be currant; by means whereof, the money of this our realm is daily, and of a long season hath been, by sundry persons (as well our subjects, as strangers, for their particular gain and lucre) conveyed out of this realm into the parts beyond the seas, and so is likely to continue more and more, to the great hindrance of the generality of Our subjects and people, and to the no little impoverishing of our said realm, if the same be not speedily remedied and foreseen. We, after long debating of the matter with you and sundry other of Our Council, and after remission made unto outward Princes for reformation thereof, finding finally no manner of remedy to be had at their hands, have by mature deliberation determined, That Our coins and moneys (as well of Gold as of Silver) shall be by our Officers of our Mint from henceforth made at such finesse, lay, standard and value as may be equivalent correspondent and agreeable to the rates of the valuation enhanced and raised in outward parts, as is afore specified: whereupon We have given commandment by Our other Letters under our great Seal, to the Master Warden, controller, and other Officers of Our said Mint, and to every of them, to see this Our determination put in execution of the said coins by Proclamation or otherwise, as in the print, coin, stroke of the same. Wherefore by these presents We will and authorize you to proceed not only from time to time, when you shall seem conveniently by advice of such other Our Council as you shall think good, to the limitation, description, and devising, how and after what manner and form Our said coins and moneys may be brought unto the rates and values, finesse, lay, standard, and print by you and them thought to be requisite, but also to appoint Our said Officers of Our Mint duly to follow, execute, obey, and fulfil the same in every point according. In which doing these Our Letters under our great Seat shall be your sufficient warrant and discharge; any Act, Statute, Ordinance or Law, or other thing whatsoever it be to the contrary notwithstanding. In witness whereof We have caused these presents to be sealed with Our great Seal, at Westminster the 23 day of julie, in the eighteenth year of Our reign etc. Graftons' Chronicle doth record that all was to no purpose, for the inhauncing might on both sides have run ad infinitum. Afterwards in the two and twentieth year of his reign, finding that Merchants did transport still the moneys, or made them over by exchange, and made no employment upon the commodities of the realm; he caused a Proclamation to be made according to an old statute 14 Richard 2, Statute of employment. That no person should make any exchange contrary to the true meaning thereof, upon pain to be taken the King's mortal enemy, and to forfeit all that he might forfeit. Hereupon it fell out, that lawless necessity did run to the other extreme of embasing the moneys by allay, whereby all things came to be out of order. For base money maketh every thing dear, Base moneys. and overthroweth the course of exchange between Merchants, and causeth much counterfeit money to be made to buy the commodities of the realm, and to destroy the good moneys, like unto the seven lean Kine of Pharaoth which devoured the seven fat Kine in a short time: as appeared of late within the realm of Ireland, which is more dangerous in those kingdoms where their moneys are of a rich standard, whereby many commotions happen, Commotions about base money. as in France during the reign of Philip le Bell. And Peter the fourth King of Arragon, did for this cause confiscate the Islands of Maiorca and Minorca, now kingdoms in the Mediterranean sea, whereas the policy of those nations which do use several standards of moneys, doth prevent the same, because that promiscuously they make and coin moneys of several standards according to the occasion, which is worthy the observation: ☞ and as all extremes are vicious and defective, so doth it befall those countries which will have no base money at all, and are made a prey unto other nations by the exchange for moneys, which must be maintained withal, as I have made and shall make more apparent. Proportion between gold and silver. The third effect or alteration of the King's Valuation of money is the Proportion between gold and silver, being in most countries twelve to one, that is to say, one pound of silver for one ounce of gold wherein there is more operation than most men do imagine. For you cannot advance or enhance the one, but you abate and diminish the other, for they balance upon this parallel. And whereas England by continuance of eleven to one hath been a great loser of gold; so now by advancing the same not only to twelve to one, but to 13 ⅕ for one, there hath followed a very great loss of our silver which is over much abated, as may appear if we do but consider that the French Crown of six shillings was answered with six shillings in silver, and is now full seven shillings and four pence; and our six shillings in silver are the very same: for twelve ounces of Crown gold of twenty and two carrats at 3 ll 6 ss maketh 39 ll 12 ss, and 108 French Crowns the which are made out of the pound weight of twelve ounces at seven shillings four pence, maketh also 39 ll 12 ss. Hereupon to equalise the silver unto gold again will breed a general enhancing of things within the realm, for the alteration of the measure of moneys causeth the denomination to follow in number to make up the tale, which requireth great providence. Exchange fallen by the enhancing of gold in the Low-countries For we find that other nations perceiving our gold to be enhanced, have abated the price of exchange, (according to which the prices of commodities are ruled) so that the same goeth at thirty and four shillings six pence, or thirty and five shillings Flemish for our twenty shillings sterling, whereas before they did allow and reckon thirty seven shillings and six pence or thereabouts, which is above our enhancing of ten pro cent. and aught to be almost thirty eight shillings, whereof our Mint men c●n take no notice, much less our Goldsmiths and Merchants, which either are ignorant, or wise in their own conceits; and it is a hard matter to find in one man that which belongeth to the professions of many, and when it is found to embrace it; for wisdom draweth back, where blind Byard is audacious. For mine own part, although it were to be wished (which is not to be hoped) that we were of the Scythians mind, who contemned silver and gold as much as other men do admire the same: yet seeing money is by the judgement of the wisest so necessary to the commonwealth, that it seemeth to be the Sinews of peace, and (as it were) the Life and Breath of warfare; I could not (if I were a Lawgiver with Lycurgus) banish gold and silver as the causes of much evil, and bring in iron in place, unless I might be persuaded as he was) of such good success against unrighteous dealings as issued thereby, but rather use the precious metals so conveniently as I might, and supply the defect with base coin, whereunto these chief metals of gold and silver cannot serve without great loss and inconvenience: Or else I would by the course of exchange for moneys, prevent all and abound with moneys and bullion, having such Staple commodities to procure the same withal, whereof other nations are destitute. Let us now therefore enter into consideration of the Merchant's Valuation in exchange, Merchant's valuation predominant. which we have noted to be predominant and overruling the King's Valuation. For if the King do value a piece of sterling silver weighing about four penny weight at twelve pence, it will be currant so within the realm. But Merchants in exchange will value the same at 11 ½ pence, and commonly at eleven pence, and so it will be transported in specie by a low exchange, and the commodities of the realm will be sold accordingly, as you may understand by the declaration of exchanges in our third part of this book hereafter. This Valuation of Merchants hath two handmaids beyond the seas, which do advance the foreign coin in price, as we do by exchange abate the same. For Merchants when they have occasion to use any species of coins for transportation (as Dollars for the East-countries to buy corn, or royals of plate for the East-Indies, or French Crowns for France) will give one, two or three Styvers or Sou upon a piece to have the same, whereby other Merchants buying commodities, will condition to make their payment in such coins accordingly; Currant money in merchandise. and so it goeth from man to man by toleration which is called Currant money in merchandise, or Permission money, whereby the same are enhanced two or three upon the hundreth at the least. This inconvenience seemeth to be remediless, as the Placcart of the Estates of the united Provinces declareth, Anno 1594. albeit the course of it is beneficial unto them, and in regard of them may well be called Permission money. For when they will not break the coin of other nations (as the manner is in all Mints) than it is either valued rather above the value, which contenteth the said nations, and so is permitted to pass between man and man, which draweth moneys unto them which doth not endure long. Valuation altered by practice with Mint masters. For the last and third effect of Merchant's Valuation between the Mint-masters (who love to be doing) and the said Merchants cometh in place, either by abating the price of the said foreign coin by Proclamation to avoid their hands of it, or to gather up coins before they be enhanced, dividing the benefit between them & the Financiers, who are Officers of their Treasury, which is done with great dexterity every way; in so much, that when it seemeth they will not have foreign coin, and to that end they undervalue the same; then have they their Exchangers or Brokers to gather up those moneys to be brought to their Mint, where they will give secretly a benefit, and help themselves by the shire, which cannot be done without private authority: So that all things duly considered, there is nothing but the rule of exchange to prevent and moderate all these inconveniences, which (to make men believe) is to undertake Hercules' Labours; for herein doth the motion consist, and Motus maior expellit minorem. Touching the Proportion between gold and silver in valuation; albeit some are of opinion, That the same is not much material in the course of traffic, yet experience hath showed unto us, that the contrary must be believed before their conceits: And whereas they have made observation upon my former assertion to this purpose, That Spain holdeth the Proportion of twelve to one, and Portugal holdeth but ten to one; they do not mark the reason added thereunto, which is, That between those Kingdoms there are no commodities to establish any traffic. So that exportation of silver for gold, Permutation of Monies. or gold for silver, is but a permutation between them without any profit: But England and other countries' affording means to import abundance of foreign commodities, and gold being with us in greater estimation than heretofore (being but of late years advanced from eleven to twelve for one, An. 1611. that is to say, From eleven ounces of silver to twelve ounces of silver, for one ounce of gold) was continually transported in return of the said foreign commodities, the exchange not answering the true value of the gold: so that now when our gold is yet more advanced, the silver is thereby more abated in price, giving 13 ⅕ for one: and therefore no marvel that gold is imported unto us, and silver is exported, there being a gain of above ten and twelve pro cent. And this loss of silver fare exceedeth the gold in value, because in quantity there is in the world 500 of silver to one of gold: Silver is 500 to one in quantity, by weight extant. and if any silver by accident be imported, it is exported again for the East-Indies and other places, they giving more for it than the price of our Mint; for gain is the commander of all. The Proportions used within the memory of man, are as followeth. IN the Low-countries they did reckon two Philip Dollars, for the Emperor's Royal of gold, whereby one mark of gold did countervail eleven mark of silver, being eleven to one in the pound accordingly. In Spain one mark of gold was valued at 53 ½ Pesos, every Peso 450 Maluedeis, and every mark of Silver 2250 Maluedeis, maketh the mark of gold to be but 10 ⅔ valued by silver: but the Spanish Pistolets of twenty two Carrats fine, to eleven royals, is eleven of silver to one of gold. In France the mark of gold valued at seventy four Crowns, and the silver at 6 ⅓ Crowns, maketh the proportion 11 11/19 parts, but valuing the French Crown at three Frankes, is eleven to one. In England the Angel at ten shillings, and the silver at sixty shillings the pound Troy of 12 ounces, being that six Angels did weigh an ounce, made also eleven to one. In Germany one mark of Silver, at 8 ½ Gold guilders, maketh 11 ⅔ for 1; but the valuation of moneys being altered hath also altered the same. In Rome the pound of silver at 108 Carlini, and the Ducat of gold 99 ¼ is 12 to 1. So at Milan the Ducat 112, and the Teaston 28 is but 9 ⅓ for 1. The silver being so in request there for the making of gold and silver thread, that is to say, silver thread guilt and white. Now for all places of momentary traffic it is 12 to 1, and in England 13 ½ to 1, as hath been declared. The valuation of foreign coin of gold and silver, published in the united Low Provinces on the 21 day of julie 1622, with the orders established by the Estates of the said Countries, for the better observation of the said valuation, which never the less are continually infringed from time to time: And the like is done in other countries; so that to observe our own rule according to Equality and Equity, will be found the best and safest course of Politic government. Guilders. Stivers. Flemish. The great golden Rider of the united Provinces. 11 6 or 37 s● 8 d The half of the said Rider 5 13 18 10 The double Ducat of the said Provinces with the Letters 8 10 28 4 The French Crown 3 18 13 0 The Pistolet of Spain of four Pistolets 15 8 51 4 The double Pistolet of Spain 7 14 25 8 The single Pistolet after the rate 3 17 12 10 The Albertins or ducats of Albertus of Austria 5 13 18 10 The double Rose Noble of England 18 12 62 0 The Rose Noble of Henricus, Edward, and Queen Elizabeth 9 6 31 0 The Henricus Noble 8 6 27 8 The Flemish Noble old and new of the united Countries 8 0 26 8 The old Angel of England 6 4 20 8 The new Rider of Gelder's and Friesland 3 13 12 2 The gold Guilder of those Mints 3 2 10 4 All which coins are to be weighed with their accustomed weight, and the remedy of two grains and no more, with some little advantage over, or at the least being within the rest of the balance: Provided always, that the coins of their due fineness (although they be lighter) shall be currant, paying for every grain wanting, two stivers. Silver Coins. Guilders. Stivers. Flemish. ss. d. The Lion Doller of the Low Provinces 2 0 6 8 The Rickx Dollars in general 2 10 8 4 The Cross Doller of Albertus 2 7 7 10 The Spanish rials of 8 2 8 8 0 The Doller of Zealand and Frise with the Eagle 1 10 5 0 The Floren or Guilder of Friesland 1 8 4 8 The English Shilling, and of great Britain 0 10 ½ 1 9 The Mark piece, or Thistle of Scotland 0 12 2 0 The Harp of Scotland and Ireland 0 8 1 4 And if any of the said pieces be found to want of their weight, and the appointed remedy, within the rest of the balance, or some little advantage over, they shall be currant, paying (for every grain wanting) two pence Hollandts, whereof 16 make one stiver, and the English groats are made bullion, or shall not be currant. Small Moneys for ordinary payments. THe Shillings of all the several Provinces respectively, and of the Mints of Nimogen, Deventer, Campen and Swoll 6 Stivers The half Shillings after the rate 3 Stivers The pieces called Flabs of Groninghen 4 stivers, the double 8 Stivers The twintigst part of the great silver Royal 2 ½ Stivers The double and single stivers of all these countries 2 & 1 Stiver The tenth to be received in copper moneys 1 Of all which small moneys for the payments of rents, interest or abatement of the same, as also of all manner of Merchandise exceeding in one parcel the sum of one hundreth Guilders, no man shall be bound to receive more than the tenth penny. 2 The Duyts according to the order of the Provinces made in the Provincial Mints, and none other, are as yet tolerated for a Duyt: and all other copper moneys of the Provincial Mints are also tolerated to be paid out for one penny the piece, the 16 whereof make one Hollandts Stiver and not above; whereas we do intent hereafter to prohibit the same to be currant for any price, because we will provide ourselves forthwith with so much copper money as the commodiousness shall require. 3 We do also prohibit from henceforth no copper moneys to be brought into these countries above two stivers, upon pain often stivers for every piece to be forfeited: and whosoever shall issue any copper moneys above the said price, shall incur the like penalty of ten stivers for every piece. 4 And all the said coins shall be currant in these Provinces for the prices aforesaid, declaring all other pieces for bullion, All other coins made bullion to be melted. which by this Our proclamation are not valued, prohibiting any of the said pieces to be offered or received; as also to press any of those which are valued to be paid at a higher price than they are valued, and likewise offer to put forth other coins of gold and silver valued, which are clipped, washed, broken, mended, neiled or otherwise augmented in weight, upon forfeiture of all the said coins so to be offered at higher rates than this proclamation doth permit: and if the fact be not instantly discovered, to forfeit the value thereof, and moreover the quadruple or the value thereof, or 24 guilders in lieu thereof, if the said coins did not amount to six guilders for the first time, the second time double, and for the third time quadruple; and moreover arbitrable correction according to the quality of the fact. 5 Without that any distinction shall be made, whether the said coins were instantly paid from foreign parts, or sent from some one Province or Town into another, in which case, if the receiver thereof will be freed of the said forfeiture, he is to give notice of it within twenty and four hours after the receipt thereof unto the Magistrates or other Officers to be thereunto appointed, to the end they may proceed therein against the sender of the said coin, as it shall or may appertain. 6 Yet shall the said Receiver keep the said coins wholly to himself, if the said moneys be sent unto him in payment of a former debt, and nevertheless have his action against the party for so much as they shall want of the said valuation: and if the said coins be sent for any debt as yet not due, or to be made, the said Receiver shall reserve to himself so much as the forfeiture cometh unto, and the remainder shall be delivered to the said Magistrate or Officer. 7 The Magistrates in places also where all such moneys are sent at a higher rate than the said Proclamation, shall be bound to make good the said inhancing unto the Receiver to whom the said moneys were sent; yet so that they may redemaund the same of the Magistrate of the place from whence the said coins were sent, who shall also instantly reembourse the same and have power to recover it, with the forfeitures thereunto belonging, and hereby ordained against the persons and goods of those who have sent the same at a higher price. 8 All which shall be observed also from the one Province unto another, or the Counting-houses of the generality, wherein they shall be aiding and assisting each other, to maintain the said Proclamation accordingly. 9 And We do intent that the said forfeitures shall be imposed as well upon the receiver as upon the payer, every one to the full, unless one of the parties did forthwith denounce the same to the Magistrates, in which case (whether he be the receiver or payer) he shall be quit and free of the said forfeiture, and moreover enjoy the one third part of the offenders forfeiture. 10 Prohibiting and expressly commanding, that no man henceforth shall presume to buy or sell any wares or merchandises, or deal for moneys by exchange or interest, nor buy new or old rents, or otherwise deal and negotiate than according to the said price and valuation of moneys of this Our permission and Ordinance, upon forfeiture of the said sums, and moreover quadruple the value thereof. 11 Our intention being, That no payments of Imposts, Demesnes or Revenues of Lands, Towns, Villages, contracts of Merchandises, Hires, Rents, interest or any Debts shall be paid than according to this our valuation; to weet, every Gelder with the one half of a Lion Doller, and one pound Flemish with three Lion Dollars, or with other coins of gold and silver, according to their intrinsicke value, as the said Lion Doller, or the great Golden Royal now containeth. After which two (as being chief and standard pieces) all the precedent moneys of gold and silver are valued; Standard pieces of the united Low Provinces 1622. without that it shall be lawful unto any man to make any lighter payment than according to the said valuation, upon pain the same to be void, and no course of law to be ministered thereupon, and moreover to incur the penalty in the next Article mentioned: according to which, all courts of justice, Magistrates of the bench or judgement seats, and all other justices are to pronounce their sentences, and to make their decrees, notwithstanding any trespass which contrary to Our intention and expectation might be practised, or at any time be put in ure, cancelling from henceforth all those which are contrary to the same, forbidding any execution, depositation of moneys, or other courses of justice to be done thereupon: declaring moreover, that all such judges as shall have pronounced the sentences, and the said Officers that shall have assisted therein shall forfeit and incur the penalty of five netherlands golden Royals for every person at every time. 12 And to the end that the stability and certainty of this valuation (which we have taken to heart and in singular commendation, and intent further to care for) may take the better effect, We do ordain, that instantly upon the publication of this Proclamation (whereof mention is made in the latter end) all persons being in any office, Estates and Officers high and low, civil or military of countries, towns, members of colleges, or particular Lords within the said united provinces, shall take their solemn oath for the performance of the said ordinance, to cause the same to be maintained and observed for so much as any manner of ways may concern their offices & command. 13 And if any of the said persons should perchance be found forgetful, and to have transgressed the aforesaid points in the paying out, or receiving of coins not permitted by this Our ordinance; likewise of clipped, washed, cracked, mended, nailed, or otherwise augmented coins in weight, or giving them in payment at a higher price than this Our ordinance; We do order and establish, that all the said forfeitures committed, and to be committed, shall (respectively) be paid double. And moreover, if they issue any coins made bullion, or other moneys above their values, they shall be deprived of their offices, upon the verification of the fact, without any pardon to be obtained for the same. 14 And the better to bring this ordinance in course, We do prohibit all Treasurors, Receivers, Rent-gatherers, their Deputies or Clerks, and all other persons being in public service or administration to pay any of the said moneys by assignation or otherwise, but to return the same where they have been received, upon the forfeitures aforesaid, unless it were that the assignment were made upon public Counting-houses or Banks, and not upon particular persons, as Fermers, Collectors, and the like, being likewise bound by the same oath; but this is to be done but once by him upon whom this ordinance falleth out, and no further. 15 And to discover the offences which they might do in their payments, We do order, That instantly when any payments are made, they shall endorse upon the acquittances and discharges of their payments (amounting to the sum of one hundred Guilders) the several species of gold and silver wherewith they have made the said payments, and the price according to which they have paid the same, with mention also of the grains which are wanting and paid for, to be subscribed by him that hath received the same, to the end, that upon their accounts notice may be taken thereof, upon forfeiture that the said acquittances or discharges shall not be allowed: and whosoever doth receive the said species and not underwrite the same, shall forfeit the fourth part so by him received. 16 Commanding the Auditors (respectively appointed) to take the accounts of the said Accountants to govern themselves accordingly, and not to allow of any acquittances or discharges than is aforesaid, but by the said acquittances to find out the offenders. 17 Moreover the said persons are bound, Marking and weighing of foreign silver. that whensoever any coins of gold shall be received by them, which are too light, they shall with a ponchion mark the same; and upon the silver coin, they shall for every farthing or eight grains which the piece is too light, put upon the said piece one grain or round O before they issue the same, upon forfeiture of half a Rider for every piece. 18 They shall also for those to whom they shall pay any moneys, have in readiness balances and weights in their places where they keep their Banks, upon forfeiture of half a Rider for every default to be made therein. 19 And all the said countable Officers, as well general as particular, shall be bound to have this our ordinance with the figures always ready upon their Banks or Counting-houses, as also a proclamation fit to be affixed in print, declaring the Valuation of the said coins, to the end every man may govern himself accordingly, upon forfeiture of five netherlands Riders, to be paid as often as they shall be found without them in their said Offices or Counting-houses. 20 Prohibiting all Receivers, Bankers, and Exchangers, their Deputies and Officers, together with all Merchants or other persons of what quality and condition so ever, to cull out any coins, to separate the light ones for to be issued, and with the weighty ones ' to make a benefit, upon forfeiture of twenty and five Neatherland Riders. 21 Prohibiting also that none of the coins of Gold and Silver which are valued by this Our Proclamation (unless it be the Spanish Ryall of 8, with his Proportions) shall be delivered into any Mint to be melted; to which end, we command all the Mint-masters of these Provinces, that they do not receive any of the said coins for to melt them: There will be no cause to do it. and if any be so brought unto them, to detain the same, and to give notice thereof unto the Generals of the said Mints, to proceed therein as it shall appertain. And whoseuer shall be found to go about to sell the said coins, or hath sold or broken the same, We will have the same to be forfeited, and the double thereof over and above. 22 Prohibiting also the importation of any coins (not valued by these presents) either of Gold or Silver to be brought in, for to be distributed. 23 And for the better discovery of the said first authors or importers of prohibited coins, We do command all Our Officers to do their utmost endeavours to inquire of those with whom they shall find any of the said coins of whom they had the same, and so from person to person, until the first importers, causing them to be punished as aforesaid, unless some can name his first author, wherewith he shall be cleared of the said forfeitures: and if he do voluntarily accuse his author, he shall enjoy the one third part of the same; and the said first importer shall be banished out of all the said Provinces. 24 If any Officers shall make doubt, that any of the said persons have not dealt well, or misbehaved themselves, then shall they (with the Magistrate) have authority to put them to their oath, of whom they have received the said coins, and at what price they have received and paid out the same: and if they deny to declare the same by oath, he shall be taken as convicted of the said trespass, according to this ordinance. But if without equivocation he will roundly declare the truth, whereby the fault shall appear, he shall be pardoned of the forfeiture, and also enjoy one third part of the offenders penalty, if it be to be had. 25 And in like manner they may, and We do authorize them by these presents, to seize and open coffers, trusses, and the letters of Messengers, where they have suspicion to contain any coin. Provided always that the said opening be done in the presence of him to whom the said coffers, trusses, or letters were directed, if they can instantly come at them, besides some one of the Magistrates where the said seizure is made; to the end that thereby the name may be known of him who hath sent the said moneys at higher prices, and to no other effect. 26 All which penalties and forfeitures shall be distributed, the one third part to the poor of the town where the penalty falleth; the other third part to the accuser, and the other third to the officer who shall challenge the execution to be done; unless it were that the said forfeitures did exceed the sum of five thousand Guilders: In this case the one half shall be for the benefit of the common cause, and the other half to be divided proportionably between the said three parties. And to the end the accuser herein may do his uttermost diligence, his name and person shall be concealed so long as possible it may be. 27 And herein we understand, that not only the person which hath committed the said trespasses shall be subject to answer for himself, but also for them of his family: The Husband for his wife, the Parents for their children, the Masters and Mistresses for their servants, men, or maids, unless it were the said servants had done the same without their privity or knowledge. 28 And to the end that this our present ordinance, may be kept and fully accomplished in all her points: We do order and command all the officers of our said Provinces, and every one in his office, to have an especial care and regard of the infringers and transgressors of this our ordinance, and to bring them before the Magistrates of their jurisdiction: Without that the said forfeitures be any ways diminished, upon penalty to be deposed of their offices, and ever after to be disabled to serve in any office, without that they may excuse themselves by ignorance, or by a general transgression of our ordinance; which excuse shall not be available unto them, but our intention is to punish them for their negligence and sloth. 29 We do further command all Magistrates and justices, that setting aside all other businesses and affairs, they do proceed herein summarily, only the truth of the fact being known, to the condemnation of the transgressors, as soon as by two witnesses they shall be convicted: And ●heerein shall the testimony of the like offender be admitted, and their sentences shall be without appeal or any prejudice. 30 We will and command, That whensoever it shall manifestly appear that the persons have transgressed, and are found upon the fact, or that by two witnesses the same can be proved against them, the offendor shall be bound to deposit the said forfeitures, before he shall be admitted to defend himself by the Law, whereunto he is to be compelled instantly, by the apprehension of his person and otherwise: And if it be found that he is not able to pay the said penalties, he shall be punished by corporal punishment as the cause shall require. 31 The judges and Magistrates shall have no authority to diminish or moderate their decrees and sentences concerning the said penalties, upon forfeiture to pay themselves the double value thereof: and if any of the said offenders should obtain of the higher powers any favour or abatement, yet shall they be bound to satisfy the accuser and the officer for their said part proportionably, according to the said forfeitures. 32 And to the end that Our ordinance may be better observed, We do will and order, That the Council of State of the said Provinces united, shall call before them the Receiver General of the said Netherlands, the Receiver of the Contributions, Confiscations, and other ordinary means which are let to farm, or to be collected, together also with the Commissaries, Clerks and servants of counting-houses, as also the Commissioners of musters, ammonition, victuals, and wagons, and to cause them solemnly to swear to observe and keep all the points and Articles of Our said ordinance. 33 The Council of State also shall appoint Commissioners for musters, to take by the course thereof, the oath of all Colonels, Masters of horse, Captains, Lieutenants, Ancient-bearers, Sergeants, Clerks and Solicitors of Companies in Our service military: which oath being taken, shall forthwith (by form of Act) be sent unto the Council of State. 34 Likewise that the Council of Admiralty, the Officer of Convoys, Masters of Licents', their Commissaries, Clerks and servants, and others that are accountable, shall do the like. 35 We do further order, that the Committees of Our Council, the Council Provincial, or of Finances of every respective Province, for themselves, or their Committees shall call before them all accountable Officers, as well Stewards of the Demaynes and spiritual liuings, Receivers of the ordinary means, Collectors of tolls, and all others, with their Clerks and servants, which have the managing of the coins of particular Provinces. Item, The Registers and Secretaries, Advocates, Proctors, Warders of Colleges, courts, and chamber of finances to take the aforesaid oath. 36 The Committees of States, and their Deputies or Council Provincial, shall have care also, that all Towns and Villages of the said respective Provinces, shall take the said oath before them that are accustomed to take the same; and where the same cannot conveniently be done, the said Committees of States, their Deputies and Provincial Council, shall appoint in all Towns and Villages some persons to take the said oath, before the Boroughmasters, Magistrates, Treasurers and Secretaries of the said Towns and places: also the Governors of the East-India Company, and all other Companies already erected, or which hereafter shall be erected, as also all Treasurers, Receivers, Rent-gatherers, and their Committees, or Clerks of Lords, Princes, Earls, Barons and other of higher powers: Item, all Deacons of Churches, Masters of the Hospitals or Orphans, Almoners, and all those that serve in Almshouses, houses of correction or Colleges, and their servants. Item, All Bankers of moneys, their Deputies and servants, all Masters of Corporations or Societies, Masters of handie-crafts-men, or trades, such as live by Rents, Merchants in Grosse or by Retail, Shopkeepers, Brewers, Woodmongers, Herring-mongers, Cheese-mongers, Dyers, Beere-mongers, Innkeepers and Tapsters, and all those that use any trade: Item, all Chamberlains and Notaries resorting under them, Collectors of small duties, Fermers, Impost-master, and of consumptions, Tolegatherers, gatherers of Poundage, Brokers, and their Committees, Clerks and servants within Towns and other places residing respectively under them. And further all those that the Magistrate of every town, place, or village shall hold convenient or judge to be necessary shall take the said oath, upon penalty (in case of refusal) to pay every day three guilders so long as they do not perform the same according to the Proclamation: and moreover to lose their freedom of a Citizen, & of their trade, office, or traffic; so as no man shall be admitted unto his office, trade, or traffic to exercise the same, until he have first (in conformity of Our said Proclamation) taken the said oath. 37 We have also concluded and thought good, That the Council of State, the Council of the Admiralty, the Committees or Deputies of the said respective Provinces, and all Courts of justice, shall promise under their Signature, upon the oath they took at the entrance of their office, to keep all the said points and Articles, none excepted: And the said Courts of justice, shall (in form of Act) send the said oath of all the said several persons mentioned in the former Article to the said Lords, Estates of the said respective Provinces, or in their absence to the Committees or Deputies of States, within fourteen days after the publication hereof: which Committees or Deputies of States shall within other 14 days after that send the same unto the Estates General, to know thereby that this Our ordinance is received, and the observation thereof established: the like is to be done by the Council of State, or of the Admiralty and their Committees or Deputies, and others within the time aforesaid. 38 Over and above all the aforesaid oaths, to be done respectively by every one, the said Provinces have mutually promised, and by these presents do promise each to other, to observe and cause to be observed the said Proclamation in all and every point and Article, without any alteration to be done therein, making void and annihilating from hence forward all particular grants, consents, ordinances, privileges, permission or command, which (contrary to the said valuation) in part or in the whole, by any of the said Provinces, Towns, Colleges, and Magistrates, or other members of the same, might be given and granted, being opposite to the common good and welfare of the country. 39 Also because that hereby the said valuation is much eased, for the multitude of coin, whereby it is apparent, that many coins of Gold and Silver Bullion shall be incident in these Provinces, to the end Our inhabitants be not overmuch charged with the same, but with the least grievance might be freed thereof; We will and command the Generals of Mints, instantly and with all speed, to take care that in all towns of these united Provinces, with the approbation of the Magistrates respectively, where there are no Banks of Exchanges, nor Exchangers, there be appointed one or more persons of credit and reputation (as the conveniency of the place shall require) to be Exchangers: and in places where such persons are to be found as are fit thereunto, that the Magistrates shall procure them, and give them honest recompense, and to furnish them with convenient instructions and commissions, unto whom or into the Mints, every man having Bullion shall deliver the same, as is mentioned in the manuals thereof: prohibiting unto all men that are not authorised thereunto, not to meddle with any exchanging function directly nor indirectly, upon forfeiture of fifty netherlands Golden Riders in specie for the first time, and double the second time, besides arbitrable correction: the one third part to the benefit of the officer, the other third to the accuser, and the other third to the Exchangers of the place where the said penalties or forfeiture shall happen. 40 And for the better observation of this present ordinance and command, We do order and command, That the same shall be published in all accustomed places where Proclamations are made, every three months precisely, and as often as occasion shall require to be renewed and published; requiring therefore the States of every respective Province, and their Committees or Deputies of States to cause the said publication to be done at the days nominated. 41 Finally, albeit We have caused the said valuation to be established upon a firm and sure ground, without limitation thereof to any time certain: nevertheless to accommodate, and for remarkable reasons; We have condescended and tolerate, that the following species of Gold only and none other, shall be issued and received for the prices hereafter, until the last of September now next ensuing. 42 Provided always, That all sentences pronounced before the date of these presents, for the payment of any moneys according to the permission of that time, shall remain and be maintained and satisfied according to the tenor thereof; without that by the said valuation or following toleration, any thing to the contrary shall be innovated or abolished. 43 Also during the said toleration, no coins to be paid for lands or heritage's, or rents upon Bills, or payments upon Obligations (until januarie last) shall be drawn against the will of the party to the said prices of toleration, but are to be performed according to this present valuation. 44 Likewise the said Banks of Exchanges, shall have no power to take in payment the said coins at higher prices, nor to issue the same otherwise than the said final valuation, and not according to the following toleration, which (as unnecessary) are here omitted, the time being expired. Observations concerning the said Proclamation and Ordinance. THat the manner of popular governments in their Proclamations, Placcarts, Edicts, and Ordinances doth much differ from the Proclamations which are made in Monarchies where Magistrates and judges are of greater reputation and dignity, according to their royal Parlements. That in the year 1594, all mints stood still for one whole year to prevent the enhancing of coin between man and man: and the said States did declare, that it was not in their power to reform the same, so long as the seventeen Netherlands were divided; every one claiming as absolute authority as the other, as members of one body. And that now they have devised a course to make their Proclamations effectual within the united Provinces, to their great benefit, if we will consider the nature of the former valuation of coins made by Princes and Merchants, with their several branches, which by policy are made inconstant. And Germany, France, and other countries have not as yet taken any course in their moneys, answerable thereunto. That the Lion Doller, and the great golden Royal of the said united Provinces are valued and made the standard pieces of all the gold and silver coins made currant by this Proclamation. And that all other coins of what Kingdoms or States soever are made bullion, and not to be currant within the said Provinces. That silver coins shall be weighed as well as the gold, whereby a more certainty may be made in the calculation of the Par for exchanges, the rather for that their species are far less in number, and the proportion between gold and silver can be better discerned; yet without the rule of exchanges by bills, still great advantages may be taken by one nation against another. That the scope of this Proclamation is to set their Mints on work by abolishing all the several coins of gold and silver of all kingdoms not valued or made currant thereby, The coining of moneys is a mark of sovereignty, so that the melting of money is a great matter of state. which may be seen by the former declarations of their weight and finesse; in so much that whereas in the year 1586, when the Earl of Leycester went over to take the governments of those countries, by the direction of the late Queen Elizabeth of blessed memory, the Lion Doller (made now to be the standard piece) was valued at thirty six stivers, and the English shilling (which is now required to be delivered by weight) was valued at ten stivers: Decreed four upon the hundred. And now the said Lion Doller (albeit decreed after the former inhancement) is still valued at forty stivers, which is one ninth part, increased, according to which the English shilling ought to be increased also 1/9 part, which for 10 stivers would be 11 stivers and 1/9 part, whereas the same is enhanced but to ten stivers & one half, and no more. The difference in exchange (according to the valuation) being in the one after the rate of 35 of their shillings, for our 20 shillings, and in the other above 37 shillings in the main standard coin, and much more in the smaller coins; whereof more hereafter concerning Exchanges. The like consideration is to be had for the valuation of moneys of other countries, whereby authority will rule their own, and not according to the rule of other Nations, but by equality and equity, which no N●tion can control or contradict. Wherein consider we likewise the standard pieces of the late Archduke Albertus of Austria for the united Provinces, declared by their Proclamation in the year 1611, and we shall find the like ground and foundation to their advantage, albeit they seem to find fault with the disorderly course of moneys, which is one of the greatest policies in State affairs. The said Archduke made (as now the States have done) his own coins of Gold and Silver for standard pieces, Modern and ancient standards o● gold and silver. namely the double Ducat of 23 carrats, 3 ½ grains of Gold, at seven Guilders and eighteen Stivers: and the pieces of three royals, at fifteen Stivers of ten ounces and eighteen grains fine, by their calculation in the pound weight Troy. And by these means there is a new foundation laid down for moneys in the said seventeen Low Provinces, where heretofore they always had the Philip Doller of ten ounces fine, and the Emperor's Royal of gold of 23 carrats 3 ½ grains fine for their standard pieces. Qui vadit plane vadit sane, taketh not always place. Lastly, that the Mints of certain Lords are called Hedge Mints, which are not under their command, Hedge Mints. as Batenborg, Heall, Bargain, Vianen, Gronswelt, Rechein, Gevarden, Stenwart, and others, may follow their own course in the coining of moneys, and by the means of commerce alter all these ordinances. For in the said year of 1586 all the said forfeitures and penalties were far greater, and the melting down of Queen Elizabeth her coin was prohibited upon pain of death and goods; yet all was neglected, and came into disorder by the command of Gain, which being taken away by a true course of exchange, is the only remedy to make the effects to cease, and all other means are fallacies, and to be abused &c. (* dtridot;) CHAP. X. Of the Laws and Prohibitions against Usury. MAny are the authors which have written against Usury in all ages, every man according to his profession, most especially the Divines, who have the word of God for their warrant, wherein also the ancient Fathers have been very strict to construe the same accordingly, Definition of Usury. making any thing taken above the principal to be Usury, because the very word of Usury in the Hebrew tongue is called a Biting, of this word Neshech, which is nothing else but a kind of biting, as a dog useth to bite or gnaw upon a bone, so that he that biteth not doth not commit Usury; for Usury is none other thing than a biting, as I said of the very Etymology and proper nature of the word, otherwise it cannot be called Neshech, as the Hebricians say. According to the definition then of biting Usury, we are to proceed in this discourse, after that we have briefly declared the Laws and Prohibitions against Usury, wherein we must begin with the holy Scripture, observing these places. God saith in the 22 of Exodus, Holy Scripture. If thou lend Money to any of my people. that is poor by thee, thou shalt not be an Usurer unto him, neither shalt thou oppress him with Usury. In another place, Levit. 25. If thy brother be waxen poor and fall into decay with thee, receive him as a stranger, or a sojourner, Deut. 23. and let him live by thee, and thou shalt take no Usury of him, nor yet advantage; but shalt fear thy God, that thy brother may live with thee. Psal. 15● Ezech. 18. Matt. 5. Luke 6. Thou shalt not lend him thy money upon Usury, or lend him of thy food to have an advantage by it. Add unto this the places noted in the margin, and so let us come to the holy ancient fathers. Saint Hierome sayeth, There is no difference betwixt Usury, Fraud, and violent Robbing. Ancient Fathers. Saint Augustine sayeth, An Usurer is he said to be who doth demand more in money, or any other thing else, than he hath delivered: according to which the said Saint Hierome also sayeth, That some do think Usury to be only in money; but let them well understand, that Usury is an overplus in any thing above that which was lent. Amb. de beno mortis. Saint Ambrose likewise sayeth, If any man take Usury he doth commit extortion, rapine and pillage, and shall not live the life; as who should say, he shall die therefore. To omit many other of the said ancient fathers, Saint Bernard sayeth, That the Vsuror is a thief in law, because the Civil Law telleth him before hand what it is that he must rob from others, as who should say, such Laws as permit Vsurors are lawful theeveries. Canon Law. Hereupon the Canonists have made Vsurors to be defamed persons: and if any man make (by his last Will and Testament) any goods unto them, the Testament may be broken, neither are they to communicate with Christians, or to enter into their congregation to offer any oblation; and when they are dead, they should not be buried in Christian burial, and if they be, the doers thereof are excommunicated. Decretals Decretals and Clementines, made by diverse Popes, are directly against Usury. Alexander the Pope doth straightly forbid all Usury, not only unto the Clergy, but also unto the Laiety. In the book Sextus Decretalium, Gregory the tenth Bishop of Rome of that name, sayeth, We (being desirous to stop the gulf or whirlpools of Usury committed, which doth devour souls, and utterly wasteth wealth) do command upon the threatenings of God's curse, that the constitution of the latter Concile set forth against Vsurors be without any violation at all, fully & wholly observed: and thereupon a prohibition is made, That no Corporation, College, or University shall let any house or dwelling place to any stranger Vsuror. Civil Law. Baldus the Civilian speaketh bitterly against Vsurors in his book of Counsels, saying, That Usury is a gainful piracy, contrary to nature, upon the loan of any thing that consisteth upon Number, Weight, and Measure. Bartolus sayeth, That all Usury is utterly forbidden, and offensive to God and man: So doth Panormitane, and diverse others learned in the Civil Law. Aristotle. Aristotle in his Politickes sayeth, That such money as bringeth forth money through Usury, is an ugly beast that bringeth forth monsters, from time to time, such as are not in nature. The Romans being in their most flourishing estate, made a law by their twelve Tables, that no man should put forth money upon Usury, but after one in the hundreth, called Faenus unciarium, whereas before that time, rich men might take at their pleasure. Afterwards it was ordained at the entreating of the Tribunes to take an ounce and a half, and that was thirty shillings in one hundreth pounds: after that it came to four in the hundreth, called Triens: and last of all to six in the hundreth, called Semissis. And yet all these alterations and diversities of suffering in Usury notwithstanding, Genitius Law. one Genitius a Tribune published a law, That it should not be lawful for any man to be an Usurer at any hand, or by any manner of means; and so by all devices that might be, it was utterly forbidden by diverse Edicts and Proclamations, which being often repressed, did yet notwithstanding break out by wonderful strange means. Wherefore Tiberius Caesar to remedy this evil, and that no Usury should be used, he caused a marvelous mass of money to be laid in bank, to the sum of two millions and an half of Crowns, being five hundred thousand pounds English or sterling, and took order that every man should have credit for three years without paying any Usury at all, Cornelius Tacitus. putting in surety for the double value of that he borrowed. And Cornelius Tacitus (a renowned Writer) saith, The canker of Usury is an old venomous sore, and the chiefest head and cause of rebellion and variance in Countries and Commonweals; and therefore it was altogether banished in the old time, when least corruption of life appeared amongst men. Lucullus so hated the excessive dealings of the Usurers, that whereas all Asia was overwhelmed with Usury, he cleared the same utterly from all Usurers. And so did Cato in Cicilia. Anthoninus Pius, Alexander Severus, Claudius Vespasian, Leo, Emperors. and diverse other Emperors did restrain the covetousness of Usurers from time to time: And the Emperor Charles the fifth (of late years) at an assembly at Augusta in Germany, did conclude with the assent of the whole Empire, That no manner of contract that had any fellowship with Usury should be allowed; but rather that all Usury should be avoided for ever, and be never more used, and if any were found to have made any such contract, the same man to forfeit to the Magistrate or ordinary judge, the fourth part of his principal sum. Plato the Philosopher warneth among other things, Philosophers, and Orators. in his fifth Book of Laws, That no body whatsoever he be, that will bear the face of an honest man, do let out his money for Usury or gain. The like saith Cicero, and many other learned Philosophers and Orators, as we have noted of Aristotle. So did diverse Lawmakers banish Usury, Lawgivers'. and utterly suppress the same; as Lycurgus in Sparta amongst the Lacedæmonians, Amasis in Egypt, Solon in Athens, Sergius Galba in Africa, being governor under the Emperor Claudius, and diverse others. So that Usury is condemned and forbidden by the holy Scripture, the Imperial Laws, Civil and Canon Laws, ancient Fathers, Decretals, learned Philosophers, eloquent Orators, Historiographers, and Lawgivers'. The consideration whereof caused me (some years since) to write a small * Saint George for England. Treatise of the Operation of Usury in Kingdoms, States, and Commonweals; showing (although allegorically) the effects of it, with the six members of every Commonwealth; which are Clergymen, Magistrates, Noblemen, Merchants, Artificers, and Husbandmen, by overthrowing the harmonical government of them, by too much enriching some, and by oppressing and impoverishing some others, bringing the instrument out of tune, when as every member of the same should live contented in his vocation, and execute his charge according to his profession, whereby all things should be governed in the best and most assured manner that can be devised, and (as it were) seeking a kind of certainty in uncertainties, which is termed (Policy:) For all worldly and transitory things being mutable, maketh the world properly to consist of discord and dissension, a very uncertain ground to build upon, and yet a certain equality and concord is required in every well governed Commonwealth, the Prince and governor having the disposing both of the one and the other: Equality, concerning traffic and commerce betwixt his dominions and other countries; and Concord amongst the members of a Commonwealth, when every member thereof doth live contentedly and proportionably in his vocation. Both these are confounded by intolerable Usury, which is described under the invented history of Saint George, The History of S. George. whereby our Saviour Christ was prefigured, delivering the Virgin (which did signify the sinful souls of Christians) from the Dragon, or Devil's power. So by the person of Saint George is understood the King's authority, armed with the right armour of Christians, who with the sword of the Spirit of Gods most holy Word, explained and corroborated with several other Laws, signified by the Pybald horse whereon he was mounted, did destroy the Dragon (Usury) having two wings to advance himself, being Vsura palliata, and Vsura explicata, and his inconstant tail Cambium; the Virgin or King's daughter (being treasure and moneys) to be devoured by his means and foreign nations. The allegory whereof requireth a due consideration, and would in plain terms be distasteful to diverse. This Dragon bringeth inequality in a Commonwealth by the means of his tail, wherein lieth his greatest strength, making the expenses thereof to surmount the revenues. In the curing of which disease, those would be thought to be very foolish Physicians, that by their medicine should cast the Body Politic of a Commonwealth into a more dangerous sickness. Wherefore as the wounds of this Dragon (Usury) are inueterated, so must he be dealt withal by degrees and lenity, admitting him for the time (as most States and Goverments do) as a necessary evil, in regard of traffic and trade; A necessary evil. albeit that many Usurers are like unto jews, who think it lawful for them to take any forfeiture, be it never so unequal and unjust, any mortgage, any pawn, nothing is amiss for them; they are not afraid of that wen which we call Anatokismos, that is, Usury upon Usury: no, they dread not to take ten upon the hundreth if it were for a week. The pretence of the jews is because we are strangers, as if we were all Canaanites, or some of the seven Nations which were as well to be oppressed by Usury, as to be rooted out by josuah: but these men cannot allege any thing in their defence, but greedy lucre. (* dtridot;) CHAP. XI. Of Usury Politic, and Moneys delivered at Interest. IN the precedent Chapter you may perceive what Laws and prohibitions are made against Usury: and nevertheless the practice of it is most usual in many Kingdoms and Commonweals, and the Laws are also made accordingly; for this sin is rather in the conscience, than in the act, and therefore there is no penalty imposed upon it by Gods Law. True it is that the Statute Law of England doth tolerate ten upon the hundreth, and so do some other Laws twelve and more: But the intent and not the rigour thereof, is to be weighed for the clearing of justice; and the preamble of the said Statute Law in the narrative part saith, That whereas Usury is against all Divine and Humane Laws, yet ten upon the hundreth is tolerated to be taken for the year, which by way of forfeiture in the nature of a punishment may be sued for by the Law: but if there be never so little taken above the said rate of ten upon the hundreth for the year, the principle is lost and triple damages. The word Usury was not so odious in times past, as it is now taken by the abuse of Usury Politic, Threefold Usury. no more than it is in Usury Natural, and Usury Spiritual: and my meaning is not to maintain Usury Politic in all respects, contrary to the opinion of Divines that have the Word of God for their warrant; but the over-precisenes therein may breed a great inconvenience to the Commonwealth. The Law of God did not punish theft by death, but only by restitution; and as Cato saith, Cato de Rustica. When a thief was punished to pay the double of that he had taken, the Usurer was always condemned to pay four times the value. The Laws therefore are made according to the alterations of times, nature, condition, and disposition of the people, and simply to say that any thing taken above the principal is Usury, is wonderful strict, unless you take the word Usury to be Biting, because the same is never hurtful but where it biteth; and the matter of conscience consisteth in the not getting of your debtor, and not in the taking of much or little interest: The Usury is greater therefore to take but two or three upon the hundreth of one that maketh no benefit of the money, than to take ten or twelve upon the hundreth of a Merchant, who maketh a greater gain thereby, according to the holy Scripture, Pecunia non potest parere alienas negociari miserias; fratrem non mor debis, non munera super innocentem, which was the cause that by the Laws of the Romans, he that took Usury of the poor was more punished than he that took, nay than he that did steal from the rich: for no man is bound by law or otherwise admonished to lend money unto those that have no need of it; and there is on the other side a conscience to be used, if a man have gotten well by another man's money, and doth pay the same again without any interest or profit. Also in case of interest taken it is considerable, That if I do lend money to him that hath need, and can afterwards prove that for want of that money I have sustained great loss, or if my debtor do break day with me when I look to have it at the time appointed, and so am endangered to my neighbour for my necessary payments, it is great reason that my debtor bear my loss, rather than I should sustain harm or danger for my good will. And this is defined to be a gain to be taken, Usury, ex damno habito, improper. ex damno habito, and it being so, is improperly called Interest, in defence of Usury. In like manner, if a shopkeeper lend money freely to his neighbour till such a day, having then occasion to use it at some Fair to lay it out in wares, if he break touch, the shopkeeper may in justice take the benefit for his money, losing the profit which he should have had by the wares which he was hindered to buy, Ex lucro cessante. and this is taken for lucro cessante: But in neither of these was an intention to deliver money at Interest. Some are of opinion, That it is better for them to deliver their money by exchange, and that therein they are less to be evil thought on, than by dealing upon Usury: But this difference consisteth only in the name; for they have both an intention of gain upon money, and do bear an adventure for the loss of their moneys: whereas the one is bound to receive but ten upon the hundreth at the most, Difference of gain by Usury and Exchange. and the other doth expect fifteen or twenty upon the hundreth at the least, only in regard he doth bear an adventure to lose by exchange (which is very seldom:) but still the intention remaineth, which should be the surest guide of conscience to take away all counterfeit pretences. The Venetians and others allow no Interest at all, but approve the benefit and course of exchange, although it be above Interest. By the aforesaid rules, Usury is weighed straightly in regard of Charity, albeit it may fall out otherwise that the borrower hath sinned; therefore in such cases circumstances are to be considered, and then judgement to be given accordingly. If I deal with a Merchant that maketh gain of my money with his trade and commerce, and is well able to pay me again, being chief enriched by my means; why should not I in reason have part of his benefit and advantage, when by my goods he is grown rich? Suppose four men are become partners, two do disburse large sums of money, and the other employ their labour and industry to make (by lawful trade) a great benefit thereby, is it not reason that the other two (although they were idle at home) should have part of the benefit? You will say, you hold this reasonable, for it is not Usury at all: but these two men take ten in the hundreth for their money; nay, than you reply and say, It is Usury, although the other two had gotten thirty in the hundreth by it: How can this be a biting Usury? Objection. Answer. But they have not borne the adventure of the Seas, but conditioned a certainty; the answer is, That they have not only borne the adventure of the Seas, but many other casualties beside, and in trusting them that had no means of their own: Well therefore say you, I will not deliver my money but to rich men; herein you show no charity, and may be deceived too, for you know not what money a man hath in his purse; so that your conscience is still the surest guide to direct you with prudence, as the loadstone doth the variation of the Pole. So much for particular persons. Now coming to examine what the Kings of England have done concerning Usury, we find that both before the Conquest and after, Usury hath been banished by some Kings, and by some other Kings it hath been tolerated, according to the times and occasions. King Edgar before the Conquest, did utterly forbid all Usury; Bankers sent out of the Realm. so did King Edward the first, who did send out of this Realm, as well the Italian Bankers that came from Pope Gregory the tenth, called Cursini, as all manner of jews, who did mightily oppress the Realm. To omit what other Kings have done, we know that Henry the eight, in the 37 year of his reign made a Statute, whereby none were suffered to take above ten in the hundreth upon loan, either for wares or money: and this was repealed by the Statute of Anno 5, Edw. 6, which afterwards being found against Policy was abrogated. So the Statutes of Queen Elizabeth did succeed, which do tolerate the said ten in the hundreth, which are of such strength and continuance at this present, that King james himself is contented to allow the said rate to the Londoners for some moneys borrowed of them; wherein (as I said before) time and occasions do alter things; and as the case for the present standeth with England and foreign Nations, we have Usury like a Wolf by the ears, dangerous to be kept, and more dangerous to abandon the same. This Usury being indeed exercised to the poor or to the rich, without respect of damage ensuing, becometh intolerable: But in case of Interest, when time of payment is neglected in the state of orphans in mutual hazard, or in hazard public, Where Usury is allowable. simply to disallow it is to cut off all trade and commerce, or reparation of damages, and to go about to remedy a mischief with a greater inconvenience. The Law of justinian the Emperor, doth therefore moderate the course of Usury, which is much to be regarded, where the words are thus, as followeth. 1. Co●. C. de Vsuris. We have thought necessary to make a general Law or Statute touching the quantity of Usury, bringing the old, hard, and most grievous weight of the same, to a certain moderate stay or mean rate. Therefore We command those Noble men that are Earls, or their betters, that they do not make any stipulation or firm bargain by any manner of contract whatsoever, great or less, for Usury or gain to be had above four in the hundreth. Those that are guardians or governors over handiecrafts men, or places where Artificers do work, or else do use any lawful trade of merchandise; We will that they shall moderate their stipulation, or firm promise taken in any bargain to eight in the hundreth. And as for those that do adventure their goods beyond the Seas, and put out their substance upon their own hazard; such may lawfully demand by firm promise to receive twelve in the hundreth, and in no wise to take above that rate; although by the old Roman Statutes it hath been lawful to exceed. And We will that all other men shall take only six in the hundreth above the principal, and the same quantity of excess in no wise to be enlarged in other contracts, where Usury is wont to be demanded without stipulation or covenant made: neither shall it be lawful to the judge to increase the foresaid taxation or rate made, by reason of the Custom used in any Country, etc. This Imperial Civil Law, having a regard to the quality of persons was duly observed, albeit the lender of the money could have taken more, when the borrower would give it to serve his occasions, without this precise observation of the quality of persons. A matter considerable now adays since the West-Indies have been discovered, whereby the currant of moneys is divided into many countries, and runneth also according to occasions, and the Policy of States and Merchants. Difference of the rate of Usury. For the toleration and permission to deliver money at Interest, doth differ in the rate in most countries', taking in one place more and in another less, according to the traffic, and Merchants devices. A Policy by plenty of money. In Poland, Lituania, Prussia, and other country's adjacent, when they do abound in corn, money is commonly very scarce, and the price of corn thereby much abated; at which time they will rather tolerate or proclaim the moneys to be enhanced in price, or to be delivered at interest after fifteen, twenty, and sometimes twenty and five upon the hundreth for a year, or a lesser time: hereupon presently, great store of money cometh from all places thither, which maketh the price of money to rise. Afterwards when many ships are laden, and the fleet departed from Amsterdam and other places, than the interest beginneth to fall accordingly. In the Low-countries it is lawful for a Merchant to take twelve upon the hundreth for the year, and after the rate for the longer or shorter time within the year. But this rate may not be exceeded, unless it be upon some conditions of casualties or adventure. The Romans and Grecians made a difference as hath been noted, according to the law of justinian. But the taking of one in the month was most usual, because Merchants were the most lender's. And this twelve pro centum is to be understood also to be Interest upon Interest, wherein equity is to be observed: Interest upon Interest. for this twelve pounds being delivered out again unto another, is pro rata as beneficial as the 100 ll principal. Albeit in case of damage, when matters between men are grown litigious, and depending in suits, than the courts of Equity will account the whole time for the forbearance of the money, according to the years past, without any Interest upon Interest. Politicians or statesmen are to have a serious consideration of the operation of this Usury politic, Usury a measure of men's actions. as a property inherent unto money, because that according to the rate of Usury men do measure all their actions, by trade and traffic, or purchase, build, plant and bargain in all things accordingly. And usury is so inherent, and doth properly grow with the decay of traffic, The decay of trade increaseth Usury. as pasturage doth increase with the decrease of tilling. Whereupon the following considerations are to be handled as matters of moment, especially in kingdoms and commonweals which have no gold or silver mines of great value, but abundance of foreign commodities returned for the great plenty and quantity of their home commodities, wherein the high continual rate of Usury may prove more prejudicial than the abovesaid policy of Poland, Lituania, or other countries can be beneficial unto them. For we see that generally all Merchants when they have gotten any great wealth with us, leave trading, and fall to Usury; the gain whereof is easy, certain, and great: whereas in other country's Merchants continue from generation to generation, to enrich themselves and the state; as we find diverse renowned families in Germany, Italy, Spain, and other countries. There was this last year a Tract against Usury presented to the high Court of Parliament of England, Anno 1621. showing the inconvenience of the high rate of Usury after ten in the hundreth, in comparison of the lesser rate of six in the hundreth, taken in the Low-countries, where money is so plentiful: and upon this difference is a certain operation of Usury noted to be predominant over us, both in our trade, and other affairs. First it is alleged, that by reason of the high rate of Usury, Reasons against the high rates of Usury. not only rich tradesmen give over trade, but a number of beginners are undone and discouraged thereby, their industry serving but to enrich others, and beggar themselves. Secondly, that many trades themselues are decayed thereby, because they cannot afford so great a gain as ten in the hundreth; whereas if the rate of Usury were no higher than in other countries, they had subsisted and flourished still, and perhaps with as much advantage to the public, as those that do bring more to the private adventures, which ought to go together, or else the common good of the State is seldom greatly advanced. Thirdly, that by this disadvantage between six and ten in the hundreth, other nations, and especially our industrious neighbours do out trade and undersell us, for they almost double the use allowed, which we cannot by paying ten in the hundreth; whereby also all contributions to the war, works of piety, and glory, of State are better cheap to them than to us; as also the buildings of ships or hiring of them, and all other things. Fourthly, that above all the rest, it maketh the land itself of small value, causing the same to be sold so good cheap, that men do not seek by industry any more to improve them, which is plain both by example and demonstration. For we see in other countries, where the use of money is at a low rate, lands are generally sold for thirty, forty, and some for fifty year's purchase, being the best assurance, and securest inheritance which men have, and therefore bearing still a rate above money, which would increase if the rate of Usury did decrease: and consequently labourers wages and other dependences thereupon, which are therein more amply declared, the scope of all tending to have a moderation in the price of Usury. Objections to the moderation of the rate of Usury. Hereunto are certain objections also alleged, and their answers to maintain the rate of Usury at ten in the hundreth with us in England; albeit other nations take but four, five, and six in the hundreth, or 6 ¼ which is called rend after the penny sixteen for six times sixteen, and one fourth maketh a hundreth, after the manner of the Low-countries. The objections are few in number. First, The long continuance of ten in the hundreth and things are well enough. Secondly, That sudden changes are dangerous. Thirdly, That money will suddenly be called in, and the borrowers be much prejudiced. Fourthly, That money will be harder to come by, and commerce much hindered. And lastly, That Merchant Strangers money now going here at use, will be carried away again, if the rate of Usury should be called down. Answer to the objections. The answer to the first and second objection is, That the practice of Usury hath not been so generally used as it is now, when men's consciences are hardened unto it, without any scruple or indifferent consideration, whereby as in bodies natural, so in politic, diseases grow by the too much or the too little of a due proportion in all humane actions. And the rule that innovations are dangerous holds true, where the body natural or politic is in perfect state of health; but where there is a declining, there to make no alteration, is a certain way to run to destruction. To the third, That money will be suddenly called in. It may be made or enacted, that the borrower shall have two year's time for the payment of the money he oweth, paying the Interest, and observing such cautions, conditions, and limitations as may be thought convenient. To the fourth objection, That money will be hard to be borrowed, it is well known that the high rate of usury doth not increase in the quantity of money (whereof having plenty) causeth commerce to flourish, and if money at interest were called down, what will Usurers do with their money? They will not keep it by them as a dead stock, for either they must employ it in trade, purchase lands, or lend for use at such a rate as the Law will tolerate; so that herein can be no hurt. To the last and weakest objection, concerning the money of other Nations delivered at interest here, it is demanded, Whether it be meet to have them to feed upon the Realm, and in process of time to carry out such gains thereby by multiplication of interest. For to men of understanding in casting of accounts, it is plainly manifest that a hundreth pounds managed at ten in the hundreth, Interest which seemeth incredible. multiplies itself in seventy years (being the age of a man) to a hundreth thousand pounds, and it is therefore compared to the Butler's box: For even as men when they are at play, feel not what they give to the box, but at the end of Christmas it makes all, or near all gamesters losers: so there are not few which continue in Usury, that are not ruined. And so the said Treatise concludeth ten in the hundreth to be biting Usury. But to apostrophate this discourse, and to remedy the matter; let us but procure to have plenty of money really in specie within the Realm, together with the means used in other countries in the lieu of moneys; as the transferring or setting over of Bills between man and man, the payments by assignment in Bank without handling of moneys, and Letters of Credit, or Bills of Exchanges, as you may find in this Book declared. For plenty of money will not only prevent, but also effect the benefits intended in the said Treatise, making Usury to decrease in price, Plenty of money decreaseth Usury in price or rate. as in other countries where they are tolerated to take twelve in the hundreth; and yet moneys are plentifully to be had, at five, six, and seven in the hundreth: Then will the King's Customs increase, and Commerce flourish, Nobleman's and gentlemen's lands be improved, Merchants and Artificers be encouraged, young beginners be enabled, labourers find quick employment, and Usurers may have land for their moneys. Some will say unto me, considering the premises, That to take ten in the hundreth of a rich Merchant indeed, or of any other that buyeth lands, or maketh gain by the money, is no biting Usury. Herein (to qualify the contents of this and the precedent Chapter) I note two considerations for that purpose; albeit that it seemeth no Comma can be made (as it were) from the highest Climate to the lowest Centre in regard of the literal words, denounced by way of curse against Usury: For if on the one side, you will take all Texts of Scripture so precisely as men do, without construction; as for example, Phil. 4. Luke 18. Give to every man that asketh of thee, Be always glad, Pray always, and the like; and on the other side, so little regard them by large interpretations in taking great Usury, what confusion and disorder would this bring to the Commonwealth? Therefore to answer the question, I say, That consideration being had in your particular, and the party who made benefit of your money, there is no biting Usury committed and no hurt done, but rather mutual love increaseth: but if there be consideration had of the general, there is biting Usury committed, and even upon the poor and mechanike people. For by your means (and others delivering moneys at Interest) is the same incorporated into rich men's hands, whereby the meaner sort of people can have none to serve their occasions, but at very excessive and abominable rates, and that upon pawn also: For your delivering of moneys at ten in the hundreth and under, doth enable them to take intolerable Usury of the said meanest sort of people, as shall now be declared, whereby they devour them; so that in all Kingdoms they are provided for, but here; and until that be amended, your taking of ten in the hundreth in nature before declared, is a biting Usury, although it do not belong unto you to amend the same, but that Princes and Magistrates are to provide for it. For this is a biting, nay a very gnawing to the bones of your Christian brother with whom you ought to deal mercifully. As there are three sorts of dealings amongst men, that is, Three sorts of men, and three sots of dealings. Gift, Bargaining, and Lending; so are there three sorts of men, the stark Beggar, the poor Housholder, and the rich Merchant or Gentleman. To the first you ought to give freely, not only to lend freely; to the second you ought to lend, either freely or mercifully, and not to feed upon him with excessive Usury; but with the third, you may deal straightly and ask your own with gain, especially when he gaineth by your money, using in all these a conscience with discretion. (* ⁎ *) CHAP. XII. Of Intolerable Usury, and Lombard's. THE apprehension of the continuance of intolerable Usury in England, is able to stupefy a man's senses; considering the same is so abhorred of Heathens, Turks, and Barbarians, it being an evident token that our hearts are more than sufficiently frozen over with the insensible y●e of uncharitableness; because the cruel devouring thereof may be so easily prevented, And then Usury Politic will not be biting. This intolerable Usury is effected by the Brokers selling old apparel and household stuff, which do take after diverse rates, but all of them excessively, they being the fittest instruments to receive and buy stolen goods, whereby all thiefs are encouraged, according to the Proverb, If there were no receivers, there would be few thiefs. Most of these Brokers have their money masters, to whom they pay twenty in the hundreth, or 15 at the least; for some of these money masters pay themselves ten in the hundreth unto others, so that one thing driveth or enforceth another. Like as in a clock where there be many wheels, the first wheel being stirred driveth the next, and that the third, and so forth till the last that moveth the instrument that strikes the clock: or like as in a press going in at a strait, where the foremost is driven by him that is next him, and the next by him that follows him, and the third by some violent and strong thing that drives him forward, which is the first and principal cause of putting forward all the rest afore him; if he were kept back and stayed, all they that go afore would stay withal. This is therefore called causa efficiens; and so is Usury Politic, unless the biting of it be hindered as shall be declared. The most favourable extortion by Usury upon pawns of any movable thing, is after six pence for 20 shillings for one month of 28 days, which is above thirty in the hundreth by the year, and two pence for the Bill money of half a crown, or eight pence, or 12 pence for the Bill money of ●0 shillings, which is more than the Interest, and this rate will be taken if it be for one week that the pawn be redeemed again; for the intent is always taken to be for one month. And under colour of the Bill money, there is for registering of the pawns likewise exaction made since there was a register appointed, who doth not take knowledge of the twentith part of the pawns, but what they will declare. Others do take eight pence for the month or week, with the like allowance for Bill money and registering, which cometh to above fifty in the hundreth. The usual rate upon small things, is twelve pence for the week or month as aforesaid, and this is sixty in the hundreth, and with Bill money above eighty; nay, there is taken the shilling penny by the week of the Fishwives and other women selling small wares up and down streets, which is above 400 upon the hundreth by the year, besides the Bill money, what this cometh unto in divided small sums is incredible. This Bill is made to deceive the Law, and the form of it is; Bought of john a Style one pair of stockings, one shirt, one band, and a hat for five shillings, witness my hand the tenth of May 1622. Io. a Style. And since the Register was made, much is pawned without making of any Bills: and not conte●ted with this horrible extortion, they will let out for gain many of these pawns and so wear them out, or at last take the forfeieure of them, being sure to lend about the third and fourth p●rt of the value: By these means devouring and consuming the poor householder and mechanical man, it being only the remarkable sin of oppression by exaction noted in the holy Scripture, for which the first world was drowned. The use of Lombard's. This caused Politicians or Statesmen to admit the use of Lombard's in their Commonweal, to moderate this intolerable exaction of Usury, so called Lombard's of certain Italians which came out of Lombardie, whereof Lombardstreet yet beareth the name since Henry the third his time. Th●se Lombard's did take also extreme rates of twenty and twenty five upon the hundreth, as the jews did, and of late years they have been (by public authority) admitted in Lombard's of the Low-countries to take after three half pence a week for the pound of twenty shillings, and one penny for the Bill, but not to be bound to pay for the month, which was also a great rate: wherein they were compared unto retailers of small wares, as Chandler's, and such like, which may get 25 and 30 in the hundreth upon wares sold by retail: and these men were the retailers of money, and had allowance accordingly, which in the Low-countries were almost in every City, and paid for it an yearly sum of money to the States. But now of late all this kind of people is put out, Houses of Commerce. and there are Pawne-houses, called Houses of Commerce erected; where the borrower payeth but after ten in the hundreth, and some allowance towards charges, under the moderation of the justinian Law, and this is declared to be done for the reasons following. That the intolerable Usury committed by the Lombard's might be prevented. That the pawns should not be worn or used, but safely kept, to be by them restored at all times, having men and women to look unto them. That the use of twenty shillings for one week is but one farthing ⅗ parts towards the payment of warehouse and house room, keeping of the pawns, and entertainment of servant's wages, and others to manage the same. That almost the value of the pawn may be had thereupon, if the borrower will desire it, one year's time and six weeks considered, with the charges; during all which time he may redeem the same, and pay but after the rate. But after the expiration of that time, than the pawns to be sold in a public outcry by a sworn Officer to be oppointed by the Magistrate: and what soever is made more thereof than the principal money borrowed and the charges, to be restored unto the party, or him that bringeth the ticket, or to their heirs, or within two years to the Magistrates, if no man claim the same, to be distributed to the poor. That stolen goods may by these means be detected, and thievery decrease, and men's lives preserved for the good of the Prince and Sta●e. I hope no man will deny, but this is a commendable course taken for the comfort of the common people, that by intolerable Usury they be not destroyed, but as necessary members of the common wealth, they may live in their vocation and profession. Surely the famous city of London is worthy of perpetual commendation for the education of Orphans. But if an Orphan come to be an householder, and liveth honestly by his handy work and labour, and hath thereby gotten a little estate of thirty or forty pound in some years, and then being visited with sickness (whereunto all men are subject) he is constrained to pawn his goods or substance unto these uncharitable people; what a miserable and pitiful thing it is to see his poor Family undone by these means (as it were) in a moment, losing that which with great care, labour, and sweat of his brows he hath been gathering for many years together? God is my witness, that the consideration hereof hath moved my soul with compassion and true commiseration which implieth a helping hand. For it is now above twenty years that I have moved continually those that are in authority, and others that have been, to be pleased to take some course to prevent this enormity. Some that God hath called, either void of charity, or seeking Privatum commodum, have been remiss to further the same, and for as much as I am (in a manner) hopeless of any success, and that it behooveth me being stricken in years to number my days, I thought convenient to publish the last Project and offer, which hath been made to the same effect two manner of ways, wherein I have spent time, labour, and no small charges in hope that hereafter it may do good to the public, Pawn houses. if some Divine be moved to further it. The first is according to the manner of Amsterdam, to which end the substance of the petition of honest and religious men his majesty's subjects, is as followeth. First, that authority be given to A. B. to erect Pawne-houses in all convenient places of the realms of England, Ireland, and the dominions of Wales, for and during the term of one and twenty years, upon these conditions. That all person and persons shall and may have at all convenient times moneys upon pawns, of or upon all movable goods, chattels, and leases, or any thing which shall be agreed upon, after the rate of ten upon the hundreth by the year. That the undertakers may be authorised or licenced to take for the attendance, labour and pains, recompense of Officers, and Servants wages, house-rent, and all other charges incident thereunto, as followeth. For registering and keeping of all pawns that do amount to fifty pounds or more, one farthing for every pound by the month. For all pawns that do amount to ten pounds or more until fifty pounds, for every pound one half penny by the month. For all pawns that do not amount to ten pound, for every pound one penny by the month. For every bill given for pawns under ten pounds, one penny, and being of ten pounds or above, whatsoever it cometh unto, but two pence, with such clauses, conditions, and cautions as shall be requisite for the security of the said undertakers, and agreeable with the laws of the realm of England, paying unto the King's majesty a reasonable sum of money yearly etc. The said allowances are inferior to the moderation of the Emperor justinian his Laws, and will be found very reasonable, considering, that by the toleration of Usury politic, men can deliver their moneys in very great sums at ten in the hundreth freely, and without such trouble. CHAP. XIII. Of Mons pietatis, or Bank of Charity. THe second mean to suppress the biting usury of extortion upon the common people, is by providing a course, that they may have moneys upon pawn without paying any interest or usury for the loan of it, according to the manner of Bridges in Flanders; which is more pleasing, but it is not so universal as the Pawn houses are, where great sums are to be had to accommodate Merchants and all men, to prevent the general abuse: albeit it cannot be denied, but that the extortion upon the meaner sort of people is more heinous and detestable; which was the cause that by the Laws of the Romans, he that took usury of the poor was more punished than he that did steal from the rich, as is before declared. In Italy there are Montes pietatis, that is to say, Mounts or Banks of Charity, places where great sums of money are by legacies given for relief of the poor, to borrow upon pawns, and to pay only after three or four in the hundreth at the most to maintain the officers, and to bear the charges of such an erected Mount for ever. But the manner of Bridges, as aforesaid, may be thought more reasonable, paying the officers out of the contributions, which by their means may be much increased, according to the orders which are hereafter declared; Moneys to be given to suppress usury. for every man is willing to give for the suppression of intolerable and abominable usury. The rich (that are charitably disposed) will give, because usury politic should not be biting; the meaner sort of people will be contributary, because of the commodiousness of it; for who will not give six pence or twelve pence every quarter of the year, when he may borrow a reasonable sum of money without paying any use for it, for one year, or a longer time, according to occasions? I am sure of most men's inclinations, by an attempt made of the practice hereof some years since: for (after the names taken of above 1500 persons that were willing to contribute yearly, and some Divines and others that would lend freely 50 ll, 100 ll, or more for some years, and some 500 ll) I made an alphabetical register of them, which was delivered into the hands of a great personage, who (as it seemeth) was not worthy of the honour thereof; but to my remembrance it amounted to some 2000 ll for moneys given and to be lent, and above six hundreth pounds yearly during the lives of the benefactors; so that no man hath cause to doubt of the collection of a great stock for so godly a work, if authority were had when this was done, upon the only hope and surmise thereof: to the effecting whereof, I will be willing still to do my best endeavour. Now the orders are as followeth. Orders to be observed for the government of the Mount of Charity, consisting of two houses within the city of London and the suburbs thereof, and one house at Westminster; where all men may borrow moneys in small sums, without paying any use or loan for the same, upon pawn to be delivered for caution or security of the said moneys, according to the manner of Bridges in Flanders, and other countries. 1 IMprimis, That all men of what quality or condition soever they be (being destitute of money) shall have money at all convenient times without paying any use or loan for the same, but delivering only a pawn of any movable thing, so it be not above forty shillings at any one time, until a competent stock be raised for the maintenance of the said Mount of Charity for ever. 2 Item, Whereas the said stock is raised, and to be increased by means of charitable and conscionable persons (which either do freely lend moneys without taking interest for the same, or do freely give in money and yearly contributions, according to their virtuous disposition, which moneys may (in progress of time) amount to a notable sum) the Treasurer general therefore shall be a man sufficient, and of honest behaviour, careful to appoint sworn honest men (upon sureties) to collect the said moneys, and for keeping of the pawns, with their Clerks and other attendants: and the Surueior of accounts shall be a man diligent and skilful in accounts, all for the better encouragement of the said charitable givers and free lender's, for the advancement of this charitable work. 3 Item, Whereas the like House called Saint George, was heretofore erected at Genova in Italy by noble Knights bound in honour to see the people relieved from oppression, biting usury and extortion, which by all virtuous Knights is at all times approved and commended; There shall be kept one pair of tables in every house, containing the names of such honourable persons, and virtuous Knights ' as shall be yearly contributaries (by quarterly payments) during their natural lives, or lend any sum of money (gratis) for a time, together with the names of such well disposed persons as by their Wills and Testaments do bequeath any sum of money for the maintenance of this pious work, in perpetual remembrance of the said benefactors. 4 Item, That the said officers shall use their best endeavours, by all good means to move all well disposed and charitable persons, to be givers, lender's, and contributaries for the increase of the said stock, especially when men are visited with sickness; to the end that by their last Wills and Testaments, they may be moved to further this godly action for the continuance thereof for ever. 5 Item, That the Lord Mayor of London (for the time being) may have yearly inspection of the collections and accounts of the officers of the said Mount of Charity, at a day by him to be appointed, to see the due execution and administration of the stock aforesaid. 6 Item, That the Clerks and other officers in place, shall attend the said houses from six a clock in the morning, until eleven, and from two of the clock in the afternoon, until seven, beginning (yearly) from the five and twentith day of March, until the last of September; and afterwards to begin but at seven of the clock in the forenoon, upon pain to be displaced. 7 Item, That no man shall offer to pawn any movable thing, having life, or being subject to manifest corruption, or pesterable wares of great bulk; but only things of Wool, Linen, Silk, or Flax, Hemp, or Tow, and such like, or Pewter, Iron, Brass, or any other matter mettaline or mineral; or of Gold, Silver, Copper, or Precious stones. 8 Item, That all pawns which shall be pawned, shall be taken as sold in open market or shop upon the conditions following, with the consent of the owner or lawful bringer thereof; and so shall not be subject to be recovered of the said officers by any fraudulent dealings. 9 Item, That every person (if he will) shall receive the three parts of the value of his pawn; that is to say, If the pawn be worth twenty shillings, he shall have fifteen shillings, and so after the rate. Provided it do not exceed the sum of forty shillings at any time, as abovesaid. 10 Item, That the said pawns shall be safely kept, for the time that the same shall be pawned, without wilful detriment or hurt, be it for one month, two, three, or more months, not exceeding the time of one year without new licence had for the same. 11 Item, That the persons which do pawn any goods as aforesaid, either being owner, or put in trust to pawn the same, shall declare their names to be entered in the journals, and other Registers, and bring an avoucher (if there be cause of suspicion, that the parties are felons, or accessaries of felony) in which regard the said goods shall be stayed for 24 hours, to see whether any person do claim the same. 12 Item, That every person which doth pawn any thing, shall take a Ticket containing the date of the time and year, and the sum of money lent, with the private mark of every house, thereby to redeem his pawn at all times at his pleasure. 13 Item, That for the defraying of the rent of convenient houses, recompense of officers and men's wages, and other charges incident for the due execution of the premises, every person borrowing a crown or five shillings shall give for his Bill or Ticket one farthing, and for ten shillings one half penny, and for twenty shillings one penny monthly, and for a greater or smaller sum accordingly, until such time that the stock be increased to such a competent sum as may countervail the said charges, and supply the necessary occasions or wants of the borrowers, to be declared hereafter. 14 Item, That all pawns which do lie above one year, being not licenced to remain for longer time, shall be sold by a public officer in open outcry every quarter of a year, the said officers to be appointed and sworn by the Lord Mayor of London, for the time being, or by two justices of the Peace at Westminster, and the surplusage of the moneys which shall be made more of the said pawns than the money lent thereupon, (after charges deducted) shall be restored to the owners or known bringers of the said pawns, or to their heirs, administrators or assigns, within one month after sale made of them, (upon demand to be made) and by default of the said heirs, administrators or assigns, to be delivered within one year after, to the said Lord Maior, and justices of the Peace, and to be distributed (by their wisdoms) to the poor. 15 Item, It shall be lawful unto the said officers, to restore to the right owner any pawn which hath been feloniously taken, upon sufficient proof made, if notice was given before the registering thereof; and if notice was given after the said registering or pawning, then to restore the same upon payment of the money borrowed thereupon, and charges. 16 Item, It shall be lawful for the Treasurer, General, and Surveyor, with the consent of the Lord Mayor of London, or two justices of the Peace at Westminster under their hand writing (when the said stock is increased to a greater sum than shall be needful for the maintenance of the said Mount of Charity) to give some relief unto such prisoners as are committed for debt in the several prisons of their jurisdiction; be it either for their maintenance there, or (after they have been one year in prison) towards the composition which they shall make with their creditors, so as the said gift do not exceed the sum of ten pounds, towards every hundreth pound which the said prisoners are indebted, if their good behaviour and likelihood to do well shall deserve the same. (* ⁎ *) Quod gratis accepimus, gratis damus. CHAP. XIIII. Of the true Calculation of Moneys delivered at Interest. THE Act of Parliament concerning Usury, made in the thirteenth year of Queen Elizabeth, declaring that Usury is forbidden, and contrary to all Divine and Humane Laws; doth by way of toleration admit, that whosoever shall deliver his money at Interest after the rate of ten in the hundreth for the year, shall only be in danger to lose that ten in the hundreth, if any man by information, plaint, or bill will sue for the same. But if it be above that rate; the deliverer of the money shall lose the principal money, and incur other penalties; and this Statute may be pleaded in Bar, and is to be construed against him directly and indirectly. Wherefore all men delivering money at Interest, must be very careful how they make their contracts, because many mistake may happen, for that all Council learned in the Laws are not good Arithmeticians in the calculation of this ten in the hundreth, which is the ground of those contracts; insomuch that by the strict rules of the said Statute, the contracts being found usurious and to exceed the rate, are not only void ipso facto, but the principal and interest is also lost. This Statute hath relation to the Act made by King Henry the eight, and the words be in effect as followeth. None may have, receive, accept, or take, for the lending or forbearing of his or their money, for one whole year, or for a longer or shorter time, or for a more or less sum, above the rate of ten pound pro cent. yearly. 37. Hen. 8. Forasmuch as some men, An objection to the Statu●e of Usury. accuse the makers of this Statute to have committed some absurdity, it will not be impertinent to clear the same: The Statute (say they) giveth ability unto a man, to take one way ten pound ten shillings or more, for the use of one hundreth pounds for one year, being delivered out for two years; and another way he cannot take ten pound five shillings and less for one year, but he shall be within the compass of the Statute. But if they had a due consideration, that Time is properly the judge hereof, and that they could not make the said Statute, without the limitation of a time certain, they would not find any absurdity therein, for it was impossible to make it otherwise more certain. Time begetteth Usury. To make this evidently appear and of necessity, Time is herein Efficient and Active, and the rate of 10 pro 100, Positive and Passive; let us suppose that you do deliver at Interest one hundreth pounds for three months after ten upon the hundreth, you may lawfully receive at the three months end, two pound ten shillings for your Interest, and continue the hundreth pound again for other three months by a new contract or agreement, and then receive again 2 ll 10 ss, continuing in this manner for the whole year by four several agreements, whereby you do receive three parts of your Interest at several times; which Interest you may put out also at Usury, and so take above 10 pro 100, without incurring the danger of the Statute, Agreement altereth ●he property of Use money by Time. because your agreements have from time to time, altered the property of the Interest money which you did receive, and was begotten in time according to the Statute, and that which was before another man's, is thereby become yours, and thereof you may dispose again. But if you do deliver out 100 ll from the beginning for one whole year; than you cannot have but ten pounds' Interest for the same at the years end with your principal, for the property of the ten pounds is not till then altered by your agreement. Thus is it with moneys delivered for a shorter Time. In like manner is it for moneys delivered out for a longer Time; as for example, one delivered out 100 ll for four years, for the which at the four year's end he can receive but 140 ll; but if he had delivered out 100 ll for one year, he may at the years end receive 10 ll for Interest, and continue the 100 pounds again for the second year by a new agreement, and then receive another ten pound, and so for the third and fourth year. Now whereas by reason of his several agreements according to the time, he hath altered the property of Interest money, and received 10 ll the fi●st year, he may put out again this 10 ll as his own for another year, and so have Interest thereof twenty shillings, whereby he receiveth 11 ll the second year, which being put out the third and fourth year, will yield him accordingly in like manner for the 10 ll received the second and third year, which will yield him after the same manner accordingly: so that he shall have above 146 ll being thus delivered out, the body of his sum still remaining whole, and being only distinguished by Time which maketh the difference. Again let us suppose that the 100 ll were delivered out from the beginning of four years, to be repaied by 25 ll a year and the Interest, it followeth proportionably, that the first year he is to receive 27 ll 10 ss, the second year 30 ll, the third year 32 ll, 10 ss, and the fourth year 35 ll, which maketh all but 125 ll; add to this the Interest of 25 ll received in deduction of his principal three years before the Time, which is 7 ll 10 ss, and of 25 ll more in like manner for two years, which is 5 ll, and of 25 ll more for the third year, which is received one year before the time, which is 2 ll, 10 ss, all is 15 ll, which together with the 125 ll maketh the said sum of 140 ll. But when moneys are repaied in this manner, as it were by way of anticipation, than the body of your sum of 100 ll is divided, and still time and interest must concur, for the interest is begotten by time. For you may not deliver out 300 ll for three years to be repaid 100 ll yearly, and receive the first year 130 ll, the second year 120 ll, and the third year 110 ll: but you must receive the first year 110 ll, the second year 120 ll, and the third year 130 ll, because you have not forborn your money for any longer time proportionably, according to your contract and agreement. And the property of the interest money is not altered effectually, according to the law, for 10 pro ce●●. for a year is the Cubike Root which doth increase and decrease both ways accordingly. Yet some will say, The property of the Cubike root. suppose that I have 3000 ll in money to deliver at interest, are not my 3000 ll worth 300 ll at the year's end, & may not I lawfully receive that 300 ll, and any part of my principal, and continue the rest for another year, and so do the like for more years? Who doubteth thereof? So that you do make new contracts or agreements from year to year, whereby the property of the interest money becometh effectually altered, according to the law (as aforesaid) your money from the beginning being delivered out but for one year: but if you do deliver your 3000 ll▪ from the beginning by one sole contract and agreement for six years, to be repaied yearly by 500 ll, and receive 550 ll the first, that is to say, 300 ll for your interest, and 250 ll for part of your principal, as it may be construed against you, then do you incur the danger of the statute. For in this (which is for a more sum and a longer time) there is the like reason as there is with a less sum and a shorter time, as by the former example is declared. And as there is more gain when money is delivered out for three months, or less time, and so continued from time to time within the year than when money is delivered out for one year; so is there more gain when money is delivered out for one year, and continued by new agrements from year to year, than when it is originally delivered out for six or more years, agreeing with the rule of Geometrical deliniation, and Arithmetical proportion. And the rule Quadrant, The rule Quadrant. or the golden rule of Arithmetic proveth unto any man of understanding, that in calculation these four things must concur: First, Principal. you may find out by your interest money and the time (after ten in the hundreth for the year) what the sum was which was delivered at interest: Secondly, Rate. at what rate according to the time such a sum was delivered: Thirdly, Time. the time for which it was delivered at such a rate: And lastly, Interest. what the interest money was for the sum delivered, according to the time; and all these (Posito in any one sum for all) will manifest the delivery of one hundreth pound for one whole year of twelve ordinary months, after the rate of ten in the hundreth, if it be so delivered out▪ for by inverting, postpounding, and supposing all must produce these just and positive sums, whereby you may be assured whether you term your money delivered out, according to the art and rule of Arithmetic, the principles whereof are infallible, or whether (being deceived therein) you have (unawares) made an usurious contract, as many do ignorantly. Auditors or Calculators. The Civilians, especially Benvenut● Straccha termed those which we call Auditors or Accountants Calculatores, which in deed are to be very judicious in matter of account, as skilful in the accounting, able by positions to find out hidden sums: for it falleth out many times in Princes accounts, that sums are named which have relation to other sums, and must by suppositions be found out▪ and can be done as they say Calculando. For example, A sum of money is delivered out for three years, every year to be paid, whereof the first sum (Posito) is 500 ll, and the fourth or last sum is 665 ll, ●0 ss. Between these two you are to find two sums proportionable: multiply 500 ll within itself is 500000; with this multiply the 665 ll 10 ss of the product, take your Cubike Root is 550 for the second sum; now to find your third sum, multiply 665 10 with 550 is ●3200. Your Quadrant Root is Medium between 2 and 4 being 605, and so you have your sum, and the interest you find to be 10 pro cent. The like for 5, 6, or more sums which by Geomet●i● is yet more easy. Reduction of Maluadies into ducats, shillings and pence. So we find that for matter of division, to reduce millions of Maluadies in Spain into Ducats without much division by 375 Maluadies for the Ducat, and then the shillings and pence of ducats made in bills of Exchanges. Take ⅓ part of the sum, and the overplus if any be, put it down for shillings and pence, than (in like manner) take ⅕ of that sum, and again ⅕ of that sum, and lastly ⅕ of that sum, being ⅗ derived from ⅓; and you have your ducats, shillings, and pence of ducats in Vntratto, as the Italian saith; in like manner divide by all the numbers contained in the table of multiplication, for 42 take ⅙ and 1/7, for 63 take 1/7 and 1/9 part, and so of all the other sums, for six times seven is forty and two. CHAP. XVI. Of Usurious Contracts. I Need not to make double inculcation against Usury, for the Civillians have been so precise in the description of Usurious Contracts, Doctor Wilso● de Vsuris. which Doctor W●lson hath noted, that it is hard for any Merchant to escape the censure of being an Usurer, albeit not in danger of the statute; which is very necessary for all Merchants to take notice of. But he concludeth, No Usury without lending. That where there is no lending, there can be no Usury: wherein he maketh a distinction between Mutuum, Locatio, and Commodatum, declaring Mutuum to be where my goods are made thine; Locatio, where a thing is ●ut forth or let to hire, the property still remaining in the owner, who beareth the adventure thereof; and Commodatum, to be a letting or lending without alteration of the property also, but free without any gain at all, where for hiring a gain is taken: and so he maketh a description of Vsurors, if they deal in manner following. If any commodity be sold unto any man, who buyeth the same by means of a broker, or otherwise, to make a shift, and to sell the same instantly to make money of, to supply his occasions, losing thereby, (as he must of necessity) the seller of this commodity is an Usurer. In this case, if it be proved that the said seller doth buy, or causeth the said commodities to be bought again directly or indirectly, the statute against Usury will take hold of him, and that very justly. I do borrow of a man one hundreth pounds for three months, promising to give his wife a satin gown, or an ambling gelding, hereupon he forbeareth his money for many months more without interest, it is Usury. I do bind my land (worth twenty pounds by the year) to a man for one hundreth pounds in money for a year, and do not pass it by bargain and sale, if the creditor do take the revenues and his principal, it is Usury. Be it that a man dareth an hundreth pounds freely, and hopeth assuredly to have some thankful recompense at the years end, this is Mentalis Vsura. What if one lend money in hope to get an office, this is also Usury. If one lend a man money for a certain time, because the same man should speak a good word for him, or do him a certain pleasure, it is a ruled case that for so much as a covenant is past, it is usury. I do lend you one hundreth pounds that you shall do as much for me when I shall demand it of you, this is usury, because a contract is simply made without any addition of time appointed, whereas if he had asked so much at the years end, than it had been no usury but permutation, when one good turn is done for another, and the time known certain. A lord doth lend his tenant's money, with this condition, That they shall plough his land, if he do not pay them for their labour but with the use, it is usury. I would borrow, and one selleth me wares for more than they be worth by the half, the seller is an usurer. I do sell commodities unto a man for six months at a reasonable price, and afterwards he payeth me in ready money, deducting the interest for the time after the rate of ten in the hundreth, this is Usury. The father-in-law do lend his son a sum of Money, and taketh in pawn the possessions of the dower, and converteth the fruits thereof to himself for the lone of Money, this father-in-law is an usurer. He that buyeth before hand Corn, Wine, or Oil so good cheap as he is sure not to be a loser but a gainer at the time of the Harvest, the same man is an usurer. I do lend one hundreth pounds to my friend for ten years freely, not to pay any penny gain all that time, if either of us do die: but if we both live together till that time, than he to pay me after twelve pound in the hundreth for ten years past; the law sayeth, that the peril which may happen doth not excuse me from sin, but I am an usurer, for the time is not proper. A Merchant dareth to a Corporation or Company an hundreth pounds, which corporation had a grant by statute, that whosoever dareth such a sum of money, and hath a child of one year, shall have for his child (if it do live fifteen years of age) 500 ll of money: but if the child die before that time, the father to lose his principal for ever. The law sayeth, If I lend purposely for gain, notwithstanding the peril, I am an usurer. I know an honest artificer oweth to a draper forty pounds to be paid at six months. I come to the draper and show him, if he will take thirty pound in hand, I will pay so much for the artificer, if he will turn the debt over unto me; herein I am an usurer in seeking to anticipate the payment. One buyeth a pay of three or four hundreth pounds, delivering fifteen shillings for every twenty shillings, here is a cloaked lending under the colour of buying, and therefore usury called Palliata, for he did hope for gain. Vsura Palliata, Vsura Explicata I do buy a man's Bill of one hundreth pounds due three months hence, and give unto him in present money 95 ll; here, although a bargain and sale seem in show, yet it is a lending, and therefore Usury. I do bargain with some to have so many Oxen and Kine within four months, to have them better cheap paying the money before hand; this is Usury if the parties had not Oxen or Kine at the Time. I do buy certain Geldings, to have them delivered at a certain Fair, for less than they were worth; I am therein a Usurer, if I be sure that they will be more worth at the time of the delivery. I do deliver old Wheat to receive new; if I do deliver the same for gain, and assure myself of benefit, I am an Usurer. I do fear the fall of money, and therefore do deliver my money to another man, to have as much at six months after, according as the money was then currant when I paid it; this is Usury. I seek an office, which I cannot have except I do pay a certain sum of money; to avoid this payment, I do lend for two, three, or four years, a gross sum, because I will not pay the said money, in so doing is Usury. I do pawn an house with an orchard for certain money, the creditor hath the benefit of my ground and house, he is an Usurer. A Gentleman hath a Manor stocked with thirty milch kine, and 700 sheep, valued at 300 marks or thereabouts, as they are then to be bought and sold; this Manor he would let out with the stock for ten years, to receive the old rent of his Manor, and thirty pounds yearly beside for his stock, and at the ten year's end, either to have at his own choice his cattles of like goodness and value as he did let them out, or else 200 ll in money. Here there is first a lending, because the farmer hath property in the cattles, and may alter them as he list for his best avail, paying his yearly rent for them, and restoring so good cattles at the ten year's end as he before received. Again, he must answer the cattles at the ten year's end, and pay rend yearly for ten years, although the cattles die all the very first year. So that this Gentleman (seeking his certain gain and principal to be safely returned unto him) is an Usurer colourably. Lastly, to deliver money by exchange upon Bills of Exchanges, intending any gain thereby any manner of ways, is Usury, and all the premises are usurious acts, although many not in danger of the Statute. Now diverse Merchants and others will say, That then there is no dealings between man and man, and all Traffic and Commerce is overthrown: For (say they) here is nothing excepted, wherein any man can deal, and all other Nations do continually maintain their Negotiation and Traffic, by delivering moneys at Interest and by Exchange, and will not be ruled by our particular direction in the course of Traffic: hereupon let us also note what lawful contracts are, before we conclude. CHAP. XVI. Of lawful Bargains and Contracts. WE have already noted where a man may take a benefit for his money two manner of ways, which is ex damno habito, where he hath sustained a loss, or ex lucro cessante, where his benefit or profit hath been taken away or prevented for the want of his money, which he might have bestowed in some wares to furnish his shop at convenient time, and in both these the party is not Active but Passive. I do buy land of my friend for a certain sum of money, and of like value to the land, with this condition, if he bring me the money again at any time, he shall have his land again; I being lawful owner of this land by bargain and sale, may safely enjoy the fruits and rents of the same lands without any suspicion of Usury. Another cometh to me and would borrow a thousand pound in Gold, and as much Plate for a show to declare and set forth his wealth the more to the world when it is seen in his shop; in this case I may take Usury. An Apothecary dareth to the Physician an hundreth pound by the year freely, because he shall send his Bills of Receipts to him and to none other, this is no Usury. I do buy Timber, Brick, or Stone of a man to deliver the same at such a place, at such a time, and to pay him for the same, I do borrow so much upon Usury, if the said man do not perform with me, in delivering the said Timber, Brick or Stone, yet is he bound to pay me that Usury truly. A Corporation taketh a hundreth pound of a man, to pay him eight in the hundreth during his life, this is no Usury, and so for all annuities during life, for the principal is never to be restored again. A mightier man than myself, withholdeth through force a portion of land from me, I am loath to try the law with him, because he hath the law in his hand; and I offer to lend him five hundred pounds for a year or two freely, so that I may have mine own without further trouble or vexation: this is no Usury because I receive but mine own quietly. I do borrow an hundreth pounds for a year, promising at the years end to lend another hundreth pound for it, for the same time; this is Permutation. I take the peril upon me of the carriage of a great mass of money; I may lawfully take portage money for my pains, and this is no Usury. I am surety for one, and pay the debt, Ext. side iuss●r c. 1. & 2. paying Usury for the same money; the principal debtor for whom I was bound, is bound to pay unto me the Usury, and the payment unto me is no Usury, for I receive but mine own. A man by Testament granteth a Legacy, and willeth his son to pay the Legacy, and so much (Nomine poenae) for non paying it: the Law saith, The Testator may charge his Executors or heir under a penalty to pay his Legacy, and the same is no Usury: But if the Testator should say thus; I will that my son or Executor shall pay for every month that they are behind hand so much, and so from month to month till it be paid; This is Usury say the Lawyers, because the time is mentioned and peined: wherein Baldus is absolute. The conclusion of all the premises is most in things Passive; and buying and selling is left only between men with certain cautions. Sailing thus dangerously between the two rocks of Sylla and Charybdis, with the great tempest about Usury, looking that the bright and fortunate Stars of Castor and Pollux should appear to bring a calm in detestation of all Usury: Lo an universal and perpetual Princely contract of Commerce is brought forth, grounded upon Traffic and Usury; yet with a religious care to prevent the biting Usury upon the poor and honest householder, and to be a means to maintain peace through all the whole world in matter of Traffic and Commerce: notwithstanding the several and particular quarrels and differences between Princes, which is very considerable and admirable. (* ⁎ *) CHAP. XVII. Of the Universal and Perpetual Princely Contract of Commerce. THE particulars of this Princely contract of Commerce (being compiled by certain Politicians of diverse Nations) was exhibited unto the Kings most excellent Majesty, in the year 1608, by a private Gentleman in the Dutch tongue, and commanded to be delivered unto me to translate the same into English; but I found the originals to be in Latin and Italian, and partly in French, as it had been propounded in diverse countries unto other Princes which had subscribed thereunto, intending to have kept a copy of it; but on the sudden being deprived thereof, I did instantly set down the substance following of it, to the admiration of the Gentleman, and contentment of some of (then) my honourable friends. And because it is not like that it should come to any universal conclusion, I have thought convenient to make the same public, manifesting thereby that Usury Politic is like to continue in all countries: to the end we may therefore prevent biting Usury upon the poor, by the charitable means of Pawne-houses, or Mounts of Charity as aforesaid. Substance of the sole, universal and perpetual Contract of Commerce, or united society of Knighthood to be made between all Princes, and one private person; for the surer maintaining of Peace amongst Christians, and increase of Traffic and Trade through all the world, grounded upon jus gentium, by the Articles following. THE contract or covenant to be made with seven qualities of persons, Emperors, Kings, Princes, Arch-duke's, Earls, Knights and Gentlemen, amongst which some Merchants are comprised, in all not exceeding the number of one hundreth persons, with the poor to be reckoned for one, as being so many Stakes; wherein Seignories, Commonweals, Societies and Orders shall be accounted for one also. Every stake to be from five and twenty thousand crowns of five shillings sterling, until one hundreth thousand crowns a stake; wherein Emperors and Kings may not exceed three hundreth thousand crowns; Dukes, Earls, and Commonweals two hundreth thousand crowns a person. No man to be ad●aunced to this society but for his deserts, or wealth, or for both, wherein but one of the kindred to succeed the father, or the nearest of consanguinity by default of sons. The persons in every kingdom (besides the Prince) to be two or three of the noblest or greatest in government, every one a stake, and the Master of counting houses for a stake serving gratis, or some other Merchant. These houses of Exchanges to be in all places of peace or security, and all other places, as it were dangerous to be governed and served by correspondencies, which may be in number seven or nine to one stake, and so augment the stock by their credit and means accordingly, receiving a proportionable gain of the benefit procured by their employment, without any other use or consideration for their moneys. The moneys delivered to this society for the stock to remain for ever by way of donation, only the revenue yearly from time to time to be paid to the parties, their heirs, or next of the blood, or to the lawful assign, or by default (after a time) to the poor. The persons advanced by deserts and without money brought in, shall for their stake, or so much as is wanting (within the time limited) allow ten in the hundreth, until the same is raised by the gain; which is offered by four or five year's revenue to be done, or by deduction of six and one fourth part per annum. No man for any criminal offence shall (by way of forfeiture) lose his stake, or for any misdemeanour hinder his posterity to enjoy the revenue thereof, but lose his voice (wherein every man is equal.) And moreover, for so much as the society may be hindered thereby, defalcation (by suspense of payment) shall be made, until reparation made thereof unto the said society at their pleasure. No Executor, Administrator, Surveyor, Curator, or other persons or assigns are to meddle with the premises: but for want of issue or ob intestato falling upon children under years, or women, to take the accounts and revenues according to the rate of others, without any other account to be made. All controversies arising between them of the society for matter of traffic, to be decided by the Master of Counting Houses, with their Counsel of Assistance to be appointed unto them, without any appellation or remove to any other court or jurisdiction whatsoever. The preservation and assurance of the stock and credit, is by the authority and confirmation of Princes and Commonweals; who (notwithstanding particular differences) are generally inclined to maintain traffic, as the Soul of their wealth and estates, so that the said authority (because of the protection thereof, by the law of nations) shall be corroborated for the defence thereof, by their association under their hands and seals, in unity of covenant (with one private person of the quality hereafter declared) in seven tongues, whereof every prince in his own language for subscription is once to have precedency, and after that without any ceremonial or politic observation to be used indifferently. To which end, the said Princes and Potentates are to renounce all laws, privileges, exceptions, or immunities, of what high nature or dignity soever to the contrary, and to make approbation of this contract, by their Parlements, or highest Court of jurisdiction, in the best manner that can be devised. Every person of this society to be free and exempted of all Impositions, Taxes, Customs, Subsidies, lending of moneys any manner of ways, or any charges; as also masters of the counting houses, which shall not be permitted to exercise any traffic or trade particular, but must wholly employ themselves to this business, with such allowance and order as is prescribed unto them. All worldly things being subject to mutability, even the greatness and superiority of Princes, which may happen to be deposed for a time, and afterwards to be restored again; It is provided, that of the gains of the three parts allotted unto them for three stakes in this covenant, the two shall remain to the Crown, and the third to the Prince, until he be restored again or dead, which is only to take place in all hereditary kingdoms. The said society therefore not to purchase any land for the generality, to endanger Prince's estates, but only for their particular, as occasion serveth. Models or Medalia to be worn by the said hundreth persons of the society, and the Masters of counting houses, only with emendation and augmentation of their arms, and by their successors, upon true register and acknowledgement to be made and kept thereof. The said Models to contain on the one side, the world concatenated together under a Crown Imperial, assisted with the personages of Prosperity, Honour, and Mercy, environed round about with two enclosed hands and arms of Faith and Credit; and on the other side the like with a Cross and Inscription, He doth crown his own works in us. All which persons shall be made noble Knights of this order accordingly, with certain other additions, as shall be thought convenient, As by Faith and Credit it shall subsist, or the like. The aforesaid stock and credit to be employed by the said Masters of counting houses, and assistants in five several matters, by Exchange, Bank, Mount of Charity, Mensa argentaria, and Houses of Vendition without any adventure or loss, according to an instruction, showing the benefit and commodiousness which will arise thereby unto all estates, for the preservation and augmentation of Honour and Wealth of the rich, relief of the poor, and welfare of the commons in general, having some gratuities bestowed upon them. The private person (with whom all the aforesaid parties are to covenant) is to be general Master of all the counting houses, and only to keep a general book of account, without any administration of the stock, or to meddle in any trade of merchandise, but to have the honour of knighthood, with a large allowance of charges, expenses had and to be had for to entertain all the parties and correspondencies which might resort to the places of his habitation: to which purpose he must be provided of a stately house, with all convenient things necessary, and many servants, messengers, and posts, with the gains of one hundreth thousand crowns, that he doth furnish by many allowances and other means, to the satisfaction of all the parties, according to a particular agreement, wherein the united Low Provinces are named the chief place or Rendezvous of this negotiation or intended contract, whereunto diverse countries have condescended. The authors of this project (under the said private name) do desire for the advancement hereof permission to execute the same, safgarde, to be protected from all injuries, and to repair all damages which might be done unto them in hostile or peaceable manner, freedom of all taxes, and assurance for their persons and goods according to an instruction. To which end the Master general of the said counting houses (if breach be made by any one of the parties in any article of this covenant) is to receive the complaint, and to consult with his counsel of assistance, and so to give notice thereof unto the next neighbour, Prince, or State of this society, to see the same redressed or amended. If that Prince do deny to be aiding, or be forgetful therein, he shall be accessary, and judged as guilty as the first offendor; whereas on the contrary, the forfeiture of the revenues of this first offendor for the time shall be his. And the society may remove their counting houses, or change them into correspondencies, if other Princes and States should also prove to be negligent, and (without respect had to their private gain) abandon so good an action, losing their title or revenue, violating the law of nations, wherewith (no doubt) most Princes shall find themselves aggrieved, and these Princes or persons transgressors will find the worse, and endanger their estates, to their great dishonour through all the world, and disturbance of other neighbour Princes. For the better advancement hereof, there is a place reserved for reward of two unknown persons, which by their industry, labour, and science shall be thought worthy thereof, one bearing the name of it. This princely contract requireth a serious consideration. The Stock or Capital is 2 ½ Millions, or 2500 thousand pounds sterling, or ten millions Flemish, which (increased by nine hundreth correspondencies) will make the stock to be twenty and five millions, o● one hundreth millions Flemish. It being very probable that through all the world there lieth so much money dead without any use or employment. The calculation of ten upon the hundreth by the year, doubleth yearly; so that he who by gift employeth one hundreth pounds, is to have for it one hundreth pounds yearly for ever: and this is supposed to be gotten by five several means, viz. by Cambium, Bank, Mons Pietatis, M●nsa Argentaria, and Domus Commutationis, whereof you may find the particulars in this Book. The proceeding of this matter of great consequence hath been interrupted by Monsieur Olden Barnevelt lately executed at the Hague in Holland, the sequel hereof time will discover, and we may say with the Poet, Quid non mortalia Pectora cogunt etc. CHAP. XVIII. Of Moneys delivered upon Lives, Annuities, and Pensions. Having entreated of Moneys delivered at interest without casualty, and so termed Usury by reason of the contract of benefit without adventure: it is convenient to handle of Moneys delivered upon Lives, when Merchants do give twelve upon the hundreth without pawn, called beyond the seas after the penny 8: the moiety whereof with pawn is six upon the hundreth, or double eight, according to the penny 16, as aforesaid. The penny 8 is 12 ½, for eight times 12 ½ maketh one hundreth: so the penny 16 which is used for rents upon houses or lands is 6 ¼, according to which penny 8 upon one life or double for one year (so they all live) is equal upon eight lives. This is much used in diverse cities beyond the seas, to draw moneys into their hands. As for example. One hundreth pounds is delivered to have two hundreth pounds for it at the years end upon eight lives, if they all live, you have two hundreth pounds to buy a perpetual rent; or sometimes as it hath been, to give twenty per 100 for the year, and so from year to year, and dying the principal is theirs. One hundreth pounds for eight lives (by equality decreasing the penny 8) is 12 ll 10 ss, for two lives, 11 ll 2 ss, for three lives 10 ll, for four lives 9 ll 1 ss 9 pence, is 6 ll 5 ss for eight lives. The City of Amsterdam was wont to give good consideration, and did observe this order upon a hundreth Gelder's for eight lives gave 16 13 4 Observations of money delivered upon lives. Of nine lives 19 1 0 Upon ten lives they gave 22 4 5 Upon eleven lives 26 13 4 Upon twelve lives 33 6 8 Upon seven lives 14 6 4 Upon six lives 13 6 8 Here you are to remember the observations of Assurors, whether the persons be young or old, sober in their diet and behaviour, much travelling abroad or staying at home, subject to sickness, and the like considerations. Rents upon houses. Moneys delivered upon annuities for rents, seem more reasonable than pensions upon lives, because you bear only the adventure of the decay of houses or destruction of them in time of war; and much more should be given without pawn, than with pawn or mortgage. It is commodious for a man, having waste grounds and intending to build upon them, to take much money upon rent after 6 ¼ pro cent. which many Cities give continually to increase their wealth and inhabitants. And because the valuation of their money doth often alter and is enhanced, whereby all things become dearer, Rents paid in specie. the parties are advised to have their rents paid in specie, in Crowns, Dollars, Ducats to be paid as formerly they were currant; the dangers in times of wars causeth rents to decrease, for the ancient rent is always first to be paid, although all others be losers. (* ⁎ *) CHAP. XIX. Of the Denomination and Division of Moneys of diverse Countries. THE Denomination, Division, and Subdivision of the moneys of all Countries, is most necessary for Merchants and all others to be known; because without it, they sail in the course of Traffic without Compass, abandoned at all uncertainties and dangers to have true equality and equity observed in their buy and sellings, and that more especially if the course of exchanges be neglected, as shall be declared hereafter. Some of these moneys are imaginary, and some are substantial or real in specie, and yet not concurring in price or value. England. IN England concerning Silver coins, there is the Crown of five shillings, and the half Crown of two shillings six pence, the shilling, the six pence, the four pence or groat, the three pence, two pence, three half pence, the penny and half penny of sterling Silver, and the farthing of Copper. The ordinary Golden coins are the unite pieces of 22 shillings, the half of eleven shillings, and the crowns or quarters of five shillings six pence, and the ⅛ part two shillings nine pence, and the five pieces coined at four shillings, making twenty two shillings, with the Rose and the Thistle. The Laureate King james, of twenty two carrats fine of twenty shillings, and the half piece. Scotland. In Scotland is the Cross Dagger piece of eleven shillings, and the half of it, and their Rider of ten shillings six pence, and for their Silver coin the Mark piece valued at 13 pence ½ in England, and the half of the same, as also six small pieces of above two pence for the said Mark. Ireland. In Ireland where no Mint hath been since King Edward the fourth of England, the fifteen shilling sterling, make twenty shillings Irish, and the Silver Harp of nine pence sterling is there currant for twelve pence, and the moiety thereof accordingly, and the abovesaid Gold coins are currant as in England, or in sterling reduced into their Irish moneys one third part more: so that the twenty shillings piece of Laureate King james, is there four Nobles, and all other divisions of it accordingly. So the English shilling is sixteen pence Irish, and the parts of it accordingly. All other old Irish coin is out of use, and little quantity to be found of it. In Germany they make all their moneys by the account of Batsen, every Bats four Creutzers, coining pieces of three, six, Germany. and twelve Creutzers. So the Ducat of Hungary maketh 27 Batses; the Gold gelder eighteen Batses; the Polish gelder or dolor fifteen Batses, Teastons five Batses. The said Gold gelder was value Anno 1520 to be currant in Holland for twenty eight stivers, whereby their corn is bought and sold, which is erroneous and imaginary, because there is no such piece in specie. So was the dolor and the Silver gelder, called Gros or Vnciales, weighing an ounce. The ancient Romans called an ounce a gelder, and the eight ounces made one mark, and 12 ounces or gelders' were reckoned for one pound; and there were coined pieces called Nummi Dragmi, alias, Grosleyn, is the eight part of a dolor; Angelicies was the ⅙ of a dolor, making three Batses or twelve Creutzers, called Schriekenborgers. The said Angelici were Tribute penies, which being allayed and made worse, did obtain the name of Bats, as it were seeking of a benefit, which since have been more embased, and therefore deserve that name of Batses: they are called in Thuringia, Gulielmi, and in Bohemia Bohemici, in regard of the said tribute, whereof they have also 12 pieces dividedly for 12 pence, which penny is all Germany over two Hellers by way of account. The dolor was first made upon sixty and five Creutzers, which (in those coins so embased) are answered by 72 Creutzers': And in oth●● cities of Germany they reckon as followeth upon diverse coins, 〈◊〉 made, and some imaginary. At Augusta they have small moneys, Grosses of three Batses, Augusta. Lion pieces, whereof two make a Creutzer; the Blackepennie four to one Creutzer, Snubourgh, Blaphart or Bohomicos of three and 3 ½ Creutzers; the Ryckes dolor is thirty Albes of eight pence every Albe, or seventy and two Creutzers for the said dolor. At Frankford they divide their Florins of sixty Creutzers, Frankford. by twenty shillings, and every shilling in twelve Hellers, according to the pound. At Norenbourgh in like manner, and the Creutzer is four pence, Norenborough. every penny two Hellers, and five pence called a Fynfer or five Pennick. At Strasborough they use Blapharts, Grosses, Strasborough. Bohemicos of three Creutzers, every Blaphart six pence of two Hellers or four Ortlyn. At Bohemia, as in Germany; and the Bohemici, Bohemia. are whitgrosse of three Creutzers; the Doller is twenty four Bohemicos, of twelve Angster, every Bohemico ten pence, and one Mark is forty Bohemicos, and Scoc, is sixty Bohemicos. Vienna. At Vienna the Ryckes Doller is eight shillings, and the Ducat twelve shillings. Trioll. At Trioll the Doller at seventy two Creutzers, of five Fynfers or Hellers the Creutzer. Hungary. In Hungary the said Ryckes Doller is seven shillings seven pence, now enhanced to eight shillings. Colloigne. At Colloigne and Cleves, a gelder is 24 whitpennie, of twelve Morkens, and every whitpennie is two shillings or stivers, and four mark for the gelder. Hamborough. At Hamborough the Doller coined at thirty and one shillings Lups, and for many year's currant for thirty and three, is enhanced now to fifty and four shillings of three whitpennie, and every shilling is twelve pence, of two Hellers every penny. Pomerania. In Pomerania the said Doller is thirty and two shillings, of two Snudens, one mark Snudens is eight shillings Lups, and the two marks Snuds are one mark Lups. Dansicke. At Dansicke the Doller thirty and five Gross of three shillings, and in other places as you may find upon the moneys denominated hereafter, in the Chapter of the Imaginary Moneys of Exchanges, for Merchant's further directions. CHAP. XX. Of Merchant's Accounts kept by Debtor and Creditor. THE manner of keeping accounts by Debtor and Creditor, was first devised in Italy upon very good considerations. There is great affinity between Faith, Trust, and Confidence; in Divinity Trust and Confidence are two handmaids unto Faith, even as Faith is the hand whereby we apprehend God's mercies, to repose our trust in him, and to be confident thereof. But in Humane actions the word Trust is more proper, which implieth a credit or belief which we give or repose upon others, or others do attribute and give unto us. Hence proceedeth the Italian speech, Star dal Credere, grounded upon that maxim of the Civil Law, Omnis homo bonus, donec contrarium probetur; whereupon a man negotiating in this world must trust and be trusted: he that is trusted with any goods, moneys, or other movable things, is therefore called a Debtor or Debtor unto the party that doth trust him therewith, and he calleth that party his Creditor, because he gave him credit for the same; whereby Debtor and Creditor concurreth between party and party. Suppose now, that a young man being of age to manage his own, is desirous to deal in the world in traffic and trade by buying and selling of commodities, or to let out his money at use, or by exchange, for other countries (unto which three actions we still observe our method, as being the Essential parts of Traffic, as often hath been declared:) and thereupon he endeuoureth to keep a true account of all his proceed and negotiation, by way of this manner of account by Debtor and Creditor, that is to say, to have still a Creditor unto a Debtor, and a Debtor unto a Creditor, which must reciprocally answer each other. Now considering of his means for the effecting hereof, he findeth that he hath one hundreth Clothes, two hundreth Kerseys, or any other commodities left him by his father or friends, and moreover some thousand pounds in ready money, and five hundreth pounds in debts owing by several persons, payable at some time to come, besides some hundreth pounds yearly in Lands or Leases: out of all these he maketh a Stock or Capital, which he doth enter into a Book● called a journal, A journal Book. because it containeth his daily actions from time to time; and from this Book they are transferred or set over into another bigger Book, called a Liedger, A Leidger Book. because the same remaineth (as lying) accordingly in a place for that purpose. The Spaniard doth call this Book El Libro grande, and the journal he calleth Manual, being of a fare lesser volume, commonly but one third part of the other, being manuable, and unto this they keep a Borrador or Memorial, wherein all things are first entered, A Memorial Book. and may upon occasion be blotted, altered, or (by error) be miscast, or not well entered. But in the journal and Leidger Book, there may not be any alteration of cyphers, blotting (nor places left in blank in the journal) but one parcel without intermission must follow another, otherwise the books are of no credit in law, or before any Magistrate; whereas otherwise much credit is given to books well and orderly kept, for the deciding and determination of many controversies which happen between Merchants and Merchants, and their Factors, which is the cause that I could not omit to write thereof, as a branch of the Law-Merchant, to the end that such judges, and others that are unacquainted with the manner of it, may be enlightened in their proceed, which (in matters of this nature) may come before them to be determined. The manner how he doth enter them in the journal is as followeth. WHerein observe, that every Debtor must have a Creditor, and so on the contrary every Creditor his Debtor, and always the left side of your Leidger Book being open is the Debtors side, and the right side of the said book towards your right hand is the Creditors side, How parcels are found in the leidger and journal. wherein you enter every Account by itself from the parcels of your journal, which parcels (in the said Leidger Book) are found in the journal by the date of it when it was made. But in the journal, the Leaves or Folio of the Leidger are noted over a line in the Margin for the Debtor, and under the said line for the Creditor: and so in the Leidger book every parcel hath in the latter end a direction to the Folio or Carta, as the Italians call it, whereby the Debtor showeth his Creditor, and the Creditor maketh relation to his Debtor; which words are not used, but understood by, Such a one oweth, and, Such a one is due to have: not only of persons, but of things themselves. As the great Merchants which buy and sell many commodities for themselves, or for others, they will arm an Account, which is the Spanish phrase, Armar una Cuenta; but in plain English, they will keep or frame an Account for themselves, Magazine. and make their Warehouses or Magazine Debtor, because the Warehouse is trusted with the wares or commodities: others will make the commodities Debtor, and their own Capital or Stock Creditor. Capital or Stock. In like manner (because their moneys are laid up or locked in a chest, which they call Cash) they will therefore imagine this Cash to be a person whom they have trusted, Ca●● or Chest and make the said Cash a Debtor for the money they put into it, and when they pay out that money, or any part thereof, they will make Cash Creditor, and that party to whom it was paid shall be made the Debtor, and if he do pay the same by your order to another party, he shall be made the Debtor, and so the other is discharged and becometh a Creditor; and so from one to another, until you come to receive the money again, and then Cash is Debtor again: for you must still have a care to find a Debtor to have his Creditor, A ●●rrie jest of Will. Summer. and that every Creditor may have his Debtor. It seemeth that William Summer (being a jester to King Henry the eight) had some insight in this manner of Account: for when the King told him, that he had delivered a good sum of money unto a gentleman a follower of his, Summer answered, That for doing so, he had noted in his Book, that the King was a fool, giving his reason for it, Because the gentleman would never return back again, and that the King was cozened: but the King asked of Summer. What he would do, in case the gentleman did return with the money? whereupon Summer answered, Then I will put him in my book for a fool, and put you out, Sic nugae seria ducunt. To return to our young Merchant, by this time he hath taken an Inventory of his estate, and caused his Clothes and Kerseys to be valued, and findeth that the hundreth clothes are worth some 1200 ll one with another, and his two hundreth Kerseys of Devonshire 400 ll: hereupon entering the year, month, and day in the journal, he maketh Debtor and Creditor as aforesaid. Magazine or Warehouse oweth unto Capital or Stock 1600 ll for one hundreth white Clothes of the marks following, The manner of making Debtor and Creditor. amounting to 1200 ll, and for two hundreth Devonshire Kerseys at 40 ll the pack of twenty pieces, which of mine own estate I find in this my warehouse parcel of my patrimony, amounting together in wares 1600 ll, and this sum is drawn out in the margin towards your right hand in the said journal. Cash oweth unto Capital or Stock (you need not to say of me A.B.) the sum of 1000 ll, for so much ready money which I find this day in Cash, proceeding of etc. and this sum is likewise drawn out etc. B. M. Mercer oweth unto Capital 300 ll, which he owed by bill unto my father deceased, payable in two payments, namely etc. sum 300 ll. N.W. Merchant oweth unto Capital 200 ll for so much owing by him unto my father deceased, which is payable the 25 of March next, by bond etc. The Manor of Latham in Lancashire oweth unto Capital 1500 ll, Land●. which was left my father by descent from etc. containing etc. of the yearly value of 66 ll, now in the tenure, occupation, or possession of etc. 1500 ll. The lease of the house called the Golden Lion situate in Cheapside in London, oweth unto Capital 200 ll, Leas●●. for so much I have paid unto the company of Mercers for a lease of the said house for 21 years, with a reservation of a rent of 20 ll yearly, to be paid every six months, now in the occupation of A.B. Goldsmith, paying me sixty pounds yearly rent for the same, I say cost me two hundreth pounds. Plate and household stuff oweth unto Capital 200 ll, Household stuff. for so much I have bought, and find to be in moveables of plate, apparel, and household stuff since my father's decease, wherewith I find all my estate to be worth 5000 ll, the particulars of which plate and moveables are by Inventory to be seen in my Book of Remembrances or Memorial; so for this parcel I draw out 200 ll. Here you see that this young Merchant hath an estate of 5000 ll to begin the world withal, consisting of the aforesaid seven parcels. Transferring of parcels to the Leidger. These seven parcels now are put over into the Liedger, which some call posted over, in so many several Accounts of seven Debtors, and there is but one to be made Creditor for all these, which is Capital or Stock, which doth answer by correspondence all the seven Debtors in their proper accounts, amounting all to the sum of 5000 ll on the Debtors side, and so is here 5000 ll on the Creditors side which doth balance the other, Balancing of accounts. being so termed of a pair of balances, wherein equal weight being laid on every side, the balance will be just and even; and in like manner must all accounts (kept by Debtor & Creditor be even balanced, whatsoever the remainder of the accounts are, which falleth out by calculation upon the account. But the main balance of the whole book may not differ one penny, and fractions of half pence and farthings are not used in journal parcels, but accounted in the summaries at the first. This Merchant now employeth his money and buyeth some other commodities to be sent beyond the seas: namely, one hundreth pieces of Perpetuanoes, which cost him ready money fifty shillings the piece; more, twenty father of Lead, at ten pound the father; fifty pieces of Bays of diverse sorts, cost him two hundreth and twenty pounds; and twenty Redding mingled colour clothes, amounting in all to 870 ll, Entering of parcels in the journal. which he paid in ready money. And all these commodities he doth enter into his journal in one parcel, making the said Magazine Debtor for all, and his cash Creditor, because the said cash was made Debtor for the money of one thousand pounds, For commodities bought and money paid for ●hem as you see before, and now being made eight hundreth and seventy pounds' Creditor, there is but one hundreth and thirty pounds more remaining in cash, the rest is in commodities. For money received, and a debtor partly discharged. By this time B.M. the Mercer (who oweth three hundreth pounds) payeth a hundreth pounds of it, now Cash is made Debtor for that one hundreth pounds, and B.M. is made Creditor for the same; so he oweth now but two hundreth pounds, and there is now in Cash two hundreth and thirty pounds. Substantial wealth. The three existant parcels by themselves for the Lands, Lease, and the Plate and Household stuff, remain still in the books untouched. The Merchant beginneth to ship his commodities, and sendeth his hundreth white clothes for Hamborough to a Factor, or his servant, and payeth the king's Custom, and all charges concerning the same: and now he frameth an account of those clothes, intituling the same voyage to Hamborough, Accounts for voyages for Hamborough. or clothes sent to Hamborough, do own unto the Magazine one thousand and two hundreth pounds, for one hundreth white clothes sent for my account to such a man in such ships etc. Money paid for Custom and charges. Then he doth charge this account of clothes with the Custom and charges he paid;— Clothes sent to Hamborough do own unto Cash sixty pounds for Custom and charges paid for the same, as in the Memorial Book appeareth. For Seville in Spain he sendeth the hundreth pieces of Perpetuanoes which he bought, Voyage for Spain. and fifty pieces of Bays, and twenty father of Lead, which did cost him 670 ll; and the Charges, Custom, and Impositions are fifty pounds in toto. For Lixborne in Portugal he sendeth two hundreth pieces of Devonshire Kerseys, Voyage for Portugal. and twenty Redding clothes, which cost him six hundreth pounds, and the Custom and charges forty pounds. And hereupon he armeth two accounts under the name of voyage into Spain, or voyage to Lixborne, or some other such name of the said commodities, as every man thinketh good: so these voyages are Debtor for the commodities, customs and charges thereof, and the Magazine is discharged, and made Creditor as abovesaid; Magazine discharged. and likewise Cash is made Creditor, having paid the Customs, Impositions and charges aforesaid. This Merchant, not willing to bear so great an adventure of six hundreth pounds, or seven hundreth pounds in one Ship, doth cause himself to be assured of three hundreth pounds in every Ship, Money for assurance. at four and five upon the hundreth, and payeth the same unto the assurors. Hereupon he maketh the said voyages Debtor, and Cash Creditor for so much, namely, thirteen pounds for Lixborne, and sixteen pounds for Seville, and so committeth the same to Gods will and pleasure, and all these parcels are entered into the Books. Money received. And B. M. the Mercer doth pay more two hundreth pounds, whereof Cash is made Debtor, and B. M. is made Creditor, and discharged of the 3 hundreth pounds he did owe, Money delivered a● interest. whereby the Merchant finding some money to spare, he delivered out two hundreth pounds at interest unto another Merchant for six months, and thereupon he maketh this Merchant C.D. Debtor, & Cash Creditor, declaring to have his bond of three hundreth pounds, for the payment of two hundreth and ten pounds at such a day in such a place. Interest money. And for the interest money of ten pounds, he maketh him likewise Debtor, and the account of profit and loss Creditor. But some men do make a particular account of interest, which is at a man's pleasure. Now the two hundreth pounds which N. W. oweth, are due, Moneys owing continued at use. and he desireth to keep the money for six months at interest, and to give his bond for it, which is so agreed between them; the interest is ten pounds, for which he maketh likewise N.W. debtor, and profit and loss Creditor. The Merchant's estate standeth now thus, View of a Merchant's estate by the Books. at Hamborough one thousand two hundreth and sixty pounds, at Seville seven hundreth thirty and six pounds, at Lixborne six hundreth fifty and three pounds, at interest four hundreth and twenty pounds with the interest, and but little money in Cash, because of his daily expenses. Suppose now that the Ships of the Company of Merchant adventurers are come from Hamborough, Return of voyages. and our Merchant's clothes are sold to diverse Merchants and others there, to be paid at six and six months, Money paid by way of anticipation. for which they have given their Bills obligatory to pay the same accordingly. But some of these Merchants are desirous to pay their money by way of anticipation, having interest allowed them for it, after the rate of eight in the hundreth for the year, and so pay ready money to our Merchant's Factor, and thereupon the said Factor maketh over by exchange four hundreth pounds sterling by two Bills of exchanges to be paid here at usance (which is two months after the date of the Bills) by Merchant's strangers. Money made over by exchange. These Merchant strangers do accept the said Bills of exchanges, and you make them severally Debtors for the same, and your Factor of Hamborough Creditor for the said four hundreth pounds. Moreover, your Factor hath set over some of those Merchant's Bills of debt for foreign commodities, and hath taken in payment two Cases of Velvets, Velvets bought beyond the Seas. which did cost eight hundreth pounds, and he sendeth them in these Ships, with an account of the charges, customs, and factoridge of the said Velvets, amounting to forty pound; so the Velvets cost in all eight hundreth and forty pounds: for this you make a new account for Velvets, or the return of the Hamborough voyage Debtor and your Factor Creditor for the said eight hundreth and forty pounds, Money taken up by exchange. as aforesaid. And because you are to pay great Custom and Imposition of these velvets, and your Cash is not well provided; you take up by exchange here sixty pounds to be paid by your Factor at Hamborough, and deliver your Bill of exchange for it, and receive the money; now Cash is made Debtor for the same, and your Factor that is to pay the money is made Creditor for it accordingly. Cloth sold beyond the Seas, and account sent of them. This Factor doth now by land send unto you the account of your hundreth clothes sold unto diverse Merchants as aforesaid, and this account is made in Hamborough or Lups money, and it is supposed amongst Merchants, that six and twenty shillings and eight pence of their money, is correspondent to our twenty shillings sterling; according to this you reduce your Hamborough money into sterling money after the rate, Hamborough money reduced into sterling. and your Factor in the said account hath already deducted his factorige, customs, and all charges incident upon the clothes sold by him: so that casting your account upon the net Provenu of your clothes, he hath received clear money one thousand four hundreth and eighty pound sterling; hereof now you do make your Factor Debtor, and the voyage for Hamborough Creditor, and coming to your Leidger Book, you find the said voyage Debtor one thousand two hundreth and sixty pounds, and now to be made Creditor one thousand four hundreth and eighty pounds: so you find here is two hundreth and twenty pounds clear gains by the account, unless you should become a loser in the velvets; for the money deducted for interest to him that paid before his time, is already deducted in the account of clothes: so that to clear this account of the voyage, you make the same Debtor for the said two hundreth and twenty pounds, and the account of profit and loss Creditor for the same. You have now sold your two cases of Velvets, the one for ready money, and the other at six and six months days of payment, to W.W. Mercer, amounting to five hundreth and twenty pounds, whom you have made Debtor for the same, and your velvets Creditor, and for the other you have made Cash Debtor for four hundreth ninety pounds, which you have received, and likewise your Velvets Creditor for the same sum; so in both, one thousand and ten pounds: and casting up your charges, Customs, and Impositions of your Velvets, you find them to amount unto 80 ll, and for this sum you make Velvets Debtor, and Cash Creditor: so your Velvets did cost with all the said charges 920 ll, and they were sold for 1010 ll; so there is 90 ll advanced by the said Velvets, whereof to clear this account, you make Velvet Debtor, and Profit and Loss Creditor, as aforesaid. Having now money in Cash, you make over 300 ll for Amsterdam by exchange, with condition and order to your Factor, That from time to time as the money groweth due, he shall make it over again by exchange unto you at double Usance, which is two months, as you made it over unto him: some now in this case will arm an account of exchanges; but it is better to make the factor of Amsterdam debtor for it, and cash creditor. Ships are now arrived from Saint Lucar in Spain, and your Factor of Seville hath sold your Perpetuanoes, Bayes, and Led, Return from Spain in Tobacco. and in return thereof hath sent you a parcel of Tobacco, because Cutcheneall was too dear, and rich Indigo is here too good cheap: withal he hath sent you the account of your commodities kept in royals of Silver, Accounts of goods sold in Spain. accounting six pence for a Royal of the clear Provenu, being 27240 royals, making sterling 681 ll, whereof you make him Debtor, and the Voyage for Spain Creditor; and when you come to your Leaguer Book, there it appeareth that the said goods did cost you 736 ll, and so there is lost 55 ll. For this now to clear the account of the said goods, you make Profit and Loss Debtor, Loss upon wares in Spain and the said Voyage Creditor to balance this loss, contrary to the gain, the Tobacco did cost with all charges 24800 royals, which is 620 ll; for this you make an account of Tobacco Debtor, and your Factor of Seville Creditor, Reduction of Spanish money into sterling. in the same manner as you did your Velvets, putting thereunto the great Impost which you paid for the same, and all charges; and having sold your Tobacco for ten shillings a pound one with another, you find to have made clear above one thousand pounds, be it 1010 ll, which cost you in Spain but 620 ll, so here is 390 ll gotten; Gain by Tobacco. but you lost 55 ll by your wares sent into Spain: well, this account is cleared, Tobacco is made Debtor 390 ll, and Profit and Loss Creditor for the same, and now you are well stored for money, for all is ready money, saving 300 ll at six months. Hereupon you make more money over by exchange for Amsterdam, Money made o●er by exchange. by several Bills to your Factor, to the sum of 500 ll, and thereupon he is made Debtor, and Cash Creditor for the said sum, Interim your said Factor of Amsterdam hath made over unto you by exchange the former 300 ll back again, for which you make him Creditor, and the party Debtor that is to pay you the money at double Usance. The Ships of Lixborne are also arrived, and bring in return of your Kerseys and Reading clothes, forty chests of Sugar of the three sorts, Pancla, Mascavado, and Blanco, or white, with advice that the commodities are sold at a reasonable rate, for by the account it appeareth that the net Provenu of it cometh to 1204 thousand 800 Reys, Reduction of Portugal money into sterling. which make 3012 ducats of ten royals, or 400 Reys, is sterling 753 ll; so that there is advanced by the account just one hundreth pounds, which are carried to the account of Profit and Loss, as in the former Accounts. The forty chests of Sugars did cost 550 ll, whereof the Factor of Lixborne is made Creditor, and the Account of Sugars Debtor, in like manner as aforesaid, Mutatis, Mutandis, and the said Sugars were sold paiable at six and six months, for 820 ll; so that the charges and customs deducted, there was 190 ll gotten, which are likewise posted to the Account of Profit and Loss. Money which was made over, returned by exchange again. The 300 ll made over from Amsterdam, are now due to be paid here, and the Merchant doth offer you to pay them by a new Bill of exchange; whereunto you agree, and hereupon you make him Creditor, and your Factor of Amsterdam again Debtor: and withal you make over by exchange other 200 ll payable at double Usance; and for this you make him Debtor also, and Cash Creditor. The year is now almost expired, and every provident Merchant doth commonly make up his Account, and draweth a balance of his book, and this Merchant findeth to have received of his Manor of Latham, Money received o● lands and lease. Expenses of house keeping reckoned. and lease of a house 106 ll, and for this he charged his Cash, and carrieth the same to Gain and Loss, as he did all the former parcels. Then he doth cast up his expenses of house keeping, which come to 150 ll; and for this he maketh Profit and Loss Debtor, and Cash Creditor. The 400 ll made over from Hamborough are received, and Cash is Debtor for it, and the parties that paid the same, are made Creditor, and discharged. Now by the Account of Profit and Loss, there appeareth to be gotten 911 ll clear, Gains of the Accounted of Profit & Loss, and Loss carried to Capital or stock. all charges and expenses deducted: this is now carried to Stock, which is now 5911 ll. Hereupon take all the remainders of the Accounts by Debtor and Creditor, which is the balance of the Book, and you shall find nothing on the Creditors side, but the Capital of 5911 ll, which is balanced by the nine accounts following, and the three accounts for the lands, leases, and household stuff, amounting to 1900 ll unaltered; So 1900 ll for the said lands, Balance of the Leaguer Book. lease, plate, and household stuff. 420 Owing by two parcels at interest, by C.D. & N.W. Merchants. 520 Owing for Velvets sold to, etc. 300 Owing for Tobacco sold to, etc. 820 Owing for Sugars sold to, etc. 1000 Owing by the Factor of Amsterdam, etc. 180 Owing by the Factor of Hamborough, etc. 61 Owing by the Factor of Seville, etc. 203 Owing by the Factor of Lixborne, etc. 507 Ready money in Cash. 5911 ll. Thus it appeareth, that this Merchant hath augmented his Capital or Stock nine hundreth and eleven pounds, Loss by the Account of profit and loss being now worth 5911 ll. And if he had been a loser by the Account of profit and loss, then must he make his Capital Debtor, and the said Account Creditor, to balance the matter, whereby his Stock would have decreased. Now by these proceed in buying and selling, receiving and paying, you may understand all other voyages for what places soever, taking notice of the diversities of moneys, and calculations of Exchanges already declared in our former Chapters; having an especial care to keep an orderly Cash Book of all the moneys received and paid out; which, The importance o● a Cash Book. as money is Publica Mensura, or a right judge to set a price unto every thing, so may you by the measure thereof (truly entered in the Cash Book) find out many doubts, questions, and uncertainties in Accounts. For the moneys being proceeding from the originals of commodities or exchanges, and the persons with whom you deal therein, giveth you light and direction to discuss these differences; and therefore it may well be compared to the measure of Hercules foot, whereby the whole symmetrical proportion of all his body was found out. symmetrical proportion in Accounts. And many Merchant's Accounts are so intricate, and overgrown with errors, as Archymedes Tomb with thorns, when Cicero came to visit it. But now me thinks I hear one say, You have briefly showed us the manner of Accounts by Debtor and Creditor, with the application of it to a Merchant's negotiation for Commodities and Money, and also by delivering money by Exchange, and how Money is gotten by Commodities, and by letting the same at Interest; But I cannot understand how a Merchant getteth money by Exchange of money by bills of Exchanges. Hereunto I answer, That it was omitted of purpose, because it should not obscure the former demonstration, otherwise the matter is of such importance, that whosoever dealeth without consideration of it, is like to a blind man groping in the dark, and yet may hit the egg. For (according to the price of Exchange) all the commodities of the realm which are exported, and all the foreign commodities imported, are sold. Know ye therefore, Profit of exchange known by the rechange. that the benefit or profit of exchange is never known directly, but by the rechange thereof: to which end you may remember, that our Merchant did first make over three hundreth pounds by exchange for Amsterdam, which were rechanged again; and then he made over five hundreth pound, three hundreth pounds, and two hundreth pounds, in all one thousand pounds; and now lately he hath made over one thousand pounds more for the said place of Amsterdam, all at double Usance, to make the better benefit and less charges. These moneys are made over at several places as followeth. ll ss d The manner how exchange giveth profit. 300 ll are made over at thirty five shillings Flemish for the pound, is 525 0 0 500 ll are made over at thirty four shillings ten pence, is Flemish 870 16 8 300 ll at thirty four shillings six pence, is 517 10 0 200 ll made over at thirty four shillings eight pence, is Flemish 346 13 4 1000 ll at several prices one with another, at thirty five shillings 1750 0 0 So the 2300 ll sterling paid at Amsterdam, is Flem. 4010 0 0 These moneys have been made over, or returned again by Exchange at several prices, and the account cleared, as followeth. ll ss d 300 ll were made over from Amsterdam, at thirty four shillings two pence, is 512 10 0 500 ll were made over at thirty three shillings six pence for the pound sterling 837 10 0 500 ll at thirty three shillings nine pence, paid at Amsterdam for the pound 843 15 0 500 ll at thirty three shillings eight pence in like manner, is 841 13 4 The Factor taketh for his salary, and paid to Brokers 21 4 8 And maketh over 500 ll more, and gave thirty three shillings ten pence for the pound 845 16 8 More at the same price of thirty three shillings ten pence, he made over the just remainder in his hands, being 107 ll 10 ss 4 d, and sendeth a particular bill of Exchange of 63 ll 11 ss for it 107 10 4 4010 0 0 Gain by exchange to profit and loss. Here you may find distinguished, that whereas you made over from London the sum of 2300 ll sterling you now receive back 2363 ll 11 ss, whereby your profit is 63 ll 11 ss, of this you make your Factor Debtor, and the account of Profit and Loss Creditor, and the like of other sums for other places. The Spaniard therefore fr●meth an Account of general exchanges for all places, called Cambios generales, to keep an even and just Account with his Factor, admitting a certain rate between him and the said Factors, according to which he rateth all the parcels of Account, be it for commodities bought or sold, or moneys paid and taken up again by exchange, which is the more labour, but more exactly done; otherwise it bringeth some alteration in Account, as for example. Difference in the rate of exchange. This Merchant's Factor at Hamborough doth remain Debtor upon the Account one hundreth and eight pounds, which is according to twenty six shillings eight pence for the pound sterling. This money he maketh over by exchange, but he is fain to give twenty seven shillings for the pound, which doth differ four pence lups in the pound sterling: so that for this difference you must make another parcel, charging the account of Profit and Loss with this loss, and making your Factor Creditor for it: whereas in the general account of exchanges, all is brought over in one parcel; but herein every man may follow his pleasure. Another objection is made, How shall a man do that hath no stock, Objection. or little or nothing to begin the world, as diverse men that from nothing come to an exceeding great wealth? what book of account can they keep by Debtor and Creditor? The answer is manifest, all is grounded upon trust. Answers. If any man will sell you commodities payable at long days of payment, and you sell them, and pay him with his own, you can make him Creditor for the same, and the commodity Debtor: and in like manner if any man lend money unto you to trade withal. So that you may perceive that this is an excellent invention, and a most commodious course to know things readily. The Bankers therefore that deal for millions of pounds, The keeping of accounts by the Bankers. and make great payments continually by assignation, do sum up every ten parcels, and post them over to a new Account, because they know at all hours whether a man be Debtor or Creditor unto them. If the treasure of Princes were disposed by this manner of Account, they should receive many benefits and advantages. First, they should not be in wants as they commonly are, Prince's accounts to be kept by Debtor and Creditor. but make their treasure go further in payments, because they may know at all times where to find their own, and what is owing unto them. Secondly, they should not be deceived as they are by their Auditors accounts, by way of charge and discharge, made sometimes many years after, when commonly officers are much indebted unto them, and yet call for money continually, which afterwards (before the account made) is consumed by extraordinary allowances, which are easily procured, when their moneys are out of their coffers; so that upon the matter, they might pay that with one penny which now doth cost them three pence, whereof the late wars in Ireland give us a sufficient instance. Lastly, the charges and expenses of officers would be much diminished, and Princes would content their followers and subjects with better pay. Worthy of perpetual remembrance is that noble Prince King Henry the seventh, Notable example of King Henry the seventh. who (in his singular wisdom and policy) knowing how Princes are subject to be wronged by their officers in the disposing of their treasure, by fraudulent and deceitful accounts, which either by ignorance or otherwise by connivance do pass, did himself (with great facility) take an inspection in all his Exchequer Accounts, by an abstract of the said Accounts, entered in a book by some experienced and skilful man in Accounts, whereunto his highness did subscribe his royal signature, before the Officers (upon good certificate made to the Lord Chancellor) could have their Quietus est pass the great Seal of England. And the said King was pleased many times to enter into particular examination of some of the Accounts, whereby he did strike a terror into the hearts of the officers; so that they became more careful, and durst not commit any fraud or deceit by combination or toleration, but his treasure was duly administered and preserved. This Signature of the Kings in the said book, is extant to be seen in his Majesty's Exchequer. Providence of the French King Henry the fourth. Urgent necessity caused the late French King Henry the fourth, when he was King of Navarre, to be present in the disposing of his treasure: in so much that afterwards (in possessing the Diadem of all France, and calling to remembrance his former observation, by comparing things to their first principles) he found that of every French crown (being sixty sou) which his coffers should receive, there came not above the fourth part de claro unto him. Whereupon, by rooting out of corruption, deposing of needless officers, profitable emptions of things necessary, and by wise disposing of them, he brought (è contrario) three parts of every crown unto his coffers, and did in progress of time accumulate a very great treasure: and yet did he increase officers fees, according to the alteration of time, which (by accidental causes) had made every thing dearer. Factor's Accounts. Thus much obiter. Now if a Merchant be also a Factor for others in the buying and selling of Commodities, delivering of Moneys at interest, and by dealings in Exchanges and R●changes, having factoridge allowed unto him for the same, according to the manner of Merchants, some more and some less, as they agree betwe●ne them, the difference in keeping other men's Accounts with whom they have any correspondence, is but small; for if it be for goods or merchandises sold, they will entitle the Account, Goods of the Account of such a man do owe unto Cash such a sum paid for Custom and Charges; or if it be for goods bought, he will do the like, and discharge the Accounts by making the said Merchant Debtor or Creditor for it is as the said Accounts require, which he doth also charge with factoridge, or provision for his salary: and therefore all Factors keep a particular Account, to know what they have gotten by factoridge or provision at the years end, and then they charge that Account with their charges, and all such expenses as they have been at, and the remainder is posted to Capital, as in the Account of Profit or Loss; whereupon some others do bring their charges and expenses, and so carry all the provision to Capital or Stock: Herein every man may use his pleasure, for this manner of Account affordeth many distinctions, all which several branches or members of Account may be brought to make up the the complete Body; for by the dismembering of an Account, Dismembering of Accounts. separating every thing in his proper nature, you are enabled to find out many errors and intricateness of Accounts, by reducing the Body of it to his perfection. In this place may be expected a declaration of the several coins, or calculation of moneys, wherein the Books of Merchant's Accounts are kept beyond the Seas: But because the same is founded upon the several exchanges between Country and Countries, I have thought good to refer the same in the proper place of exchanges hereafter following, and to conclude this Second Part of Lex Mercatoria, with that notable question made by the Civilians; A Question made by Civilians about Books of Account. Whether a Merchant or a Banker, keeping two Books of Account, the one concerning the moneys of his Bank, and the other touching trade of Merchandise for wares, shall be censured alike for such moneys as he oweth unto his Creditors? So that the Creditors (after his decease) shall all stand in equal degree to be paid, either in the whole or in part, if the Bankers estate be not sufficient for the payment thereof: Herein the judges of Merchants do make no difference, but the Civilians have made a great distinction therein, and they say, That the Book of the Bank, is more to be credited than the other; For, saith Benuenuto Straccha, the Book of the Bank was kept publicly, and the other (as it were) secret to himself: so that the Creditors of the one are to be distinguished from the other, as being two negotiations, and to be dealt therein according to their several natures, and the means thereof extant, with such considerations as may be incident thereunto. To declare my own opinion, I say, That the Canon and Civil Law, making no distinction in the payment of the Testators Debts, between moneys owing for wares or for interest; there ought not to be any difference in the nature of the debts, in regard of the Books of Accounts. (* ⁎ *) The End of the Second Part. THE THIRD PART OF LEX MERCATORIA, OR THE Ancient Law-Merchant; concerning Exchanges for Moneys by Bills of Exchanges, compared to the Spirit or Faculty of the Soul of TRAFFIC and COMMERCE. HAVING (in the First and Second Part of this Book) entreated of the Body and Soul of Traffic, namely, Commodities and Moneys. Let us now handle the predominant part of the course of Traffic, which is the Exchange for moneys, by Bills of Exchanges for foreign parts, compared to the Spirit or Faculty of the Soul. For as moneys do infuse life to commodities by the means of Equality and Equity, preventing advantage between Buyers and Sellers: so Exchange for moneys by Bills of Exchanges (being seated every where) corroborateth the Vital Spirit of Traffic, directing and controlling (by just proportions) the prices and values of commodities and money, as shall be declared. Many men cannot well discern the distinction of the Spirit in sundry matters, because man (consisting of Body and Soul (that) which belongeth to the Spirit) is comprised under the name Soul: but if they be willing to understand the necessary distinction hereof, reason in the Theoric Part, will demonstrate the same in the Practic Part of this discourse of Exchanges. Saint Paul in the later end of his second Epistle to the Thessalonians, wished a sanctification to their spirits and souls, 2. Thess. 5.23. and their bodies until the day of judgement. For albeit the Spirit of man, is rightly termed to be the Faculty of the Soul; The Faculty of the Soul, is the Spirit of man. yet the parts of the Soul concerning Understanding and Will, have their proper relation; for that part called Understanding, is seated chief in the Soul, as Will is in the Spirit, both to be accompanied with Knowledge. The Philosophers have made this distinction by their Chemical observation: and such as place the Soul in the blood (dispersed through all the veins of the body) do also place the Will of man in the spirit, residing in the heart of man, which the Anatomists demonstrateth to be a little concavity, where the drops of the vital blood are placed in the heart, which are feared up, and the place is shrunk in bodies which have been poisoned. To make application of this comparison between the Soul and Spirit, Application of the comparison. we shall find by the following discourse, that even as the Spirit of man is predominant over the Soul and Body in all the actions thereof, which by the blood are quickened and preserved, even so is the Exchange for moneys by Bills of Exchanges, overruling the course of commodities and moneys in all places where the action of money is felt or seen, directing the same (by some due proportions) accordingly. CHAP. I. Of the Beginning of the Exchange for Moneys, by Bills of Exchanges. THE Exchange for moneys is of great antiquity: for (as we have declared) the first Silver moneys coined by the Romans is almost 1900 years since. And even as money was invented to be made of the best metals, to avoid the troublesome carriage of commodities up and down, and from one country into another: So (upon the like consideration) when other nations (imitating the Romans) did coin moneys, The cause of the Exchanges Exchange by Bills for moneys was devised, to avoid both the danger and adventure of moneys and the troublesome carriage thereof. This money now being made by diverse Nations of several standards and diverse stamps and inscriptions, (as a Mark of Sovereignty) caused them to appoint a certain Exchange, for the permutation of the several sorts of coins in diverse countries, without any transportation of the coin, but giving Par pro Pari, or value for value, with a certain allowance to accommodate the Merchant: and the officers to execute the same, were called Numularij, Argentarij, and Collybistae, that is to say, Numularij of Nummus or the coin itself; Argentarij, because the Silver coin was most usual in the course of traffic; and Collybistae, because it signifieth a reward for Exchanging. Here now let us observe four manner of Exchanges which have been used, and in some countries are yet continued, albeit some of them are abrogated in England, commonly called Cambio Commune, Cambio Real, Cambio Sicco, and Cambio Fictitio, which denomination may be admitted. The first manner of Exchange, called Cambio Commune, I Cambio Commune. is properly that Exchange which the said Collibistae, or common Exchangers did use by the authority of Princes and Commonweals, for the lawful and current moneys of their Kingdoms and Territories; which was found to be very expedient and necessary, and was established to prevent the exportation of money from one country into another country: and these Exchangers did deliver in all countries the Money in one specie, for the Moneys in other species by them received, as aforesaid. Tables of Exchange. Whereupon King Edward the third of England caused certain Tables to be set up at Dover and other places of the realm, declaring the value of the said sundry species of coin of all countries trafficking with his subjects, and the allowance which Merchants were to give to have their turns served; as may appear by the good Laws made in his time, when there was Moneys coined in diverse places of this Kingdom, and not in one mint only, within the Tower of London. And this was long before the discovery of the West-Indies, from whence the ocean of Money did run into Christendom. And for the government of the said Tables, all was at the direction of the Master of the King's Mint at London, and with a correspondence of other Mints, namely at Canturburie, at Kingston upon Hull, Newcastle upon Tine, Bristol, and Exeter. And the Exchanger for the King at London did also depute Exchangers in the most places, except that certain Merchants of Florence, called Friscobaldi, were the King's Exchangers at Kingston, Friscobaldi the Exchangers. Newcastle, and Exeter, who made the said Exchanges of value for value, with a reasonable allowance; and by their means were all the said Mints set on work, and the transportation of our Moneys was prevented; for as Bishop Tursids' book of Arithmetic declareth, by giving par pro pari, or value for value, there was no gain left to the transporter. The Kings of England did constitute these Exchangers, King's Exchangers. even as the Cambiadores and Bankers are used in other countries, being authorised by the King or Prince of the said countries, especially King Edward the first of England, who had two Exchangers, the one called Custos Cambij infra Turrim, who had the charge in buying of bullion, and to look to the coinage of Money within the realm, now called the Warden of the Mint: the other was called Keeper of the exchange and rechange within or towards this realm, for Moneys to be paid in specie, by Bills of Exchanges beyond the seas. And afterwards the said Exchanges were made without naming the species, but according to the value of the several coins, 2 Cambio Real. and this was called Cambium Regis, or Royal Exchange, which caused Queen Elizabeth to name the Burse in London accordingly. This office appeareth to have been in the eleventh year of the said King Edw. by an Act of Parliament made at Acton Burnel, since which time the succeeding Kings and Queens have continued the same by sixteen several Letters Patents. And whereas it seemed that the said two Exchangers could not execute their offices conveniently being asunder; it fell out, that in Henry the sixth his time, a Law was made, by which both offices were put into one man's hand, and so continued many years, until the time of King Henry the eight, Exchanges discontinued. when he caused base Moneys to be made at the siege of Boulogne, whereupon no certain Exchange could be grounded: albeit that before that time, in the two and twentieth year of his reign, he caused a Proclamation to be made according to an old Statute made in the time of King Richard the second, The Chronicle of Graston. That no person should make any Exchanges contrary to the said meaning or Act of Parliament, upon pain to be taken to be the King's mortal enemy, and to forfeit all that he might forfeit. For in his noble father's time King Henry the seventh, the Bankers had invented a course of merchandising by Bills of Exchanges; and especially two other Exchanges, which they named Cambio sicco, and Cambio fictitio. 3 Cambio sicco This Cambio sicco, alias called dry Exchange, is in this manner: A Merchant hath occasion to use, Verbi gratia, one hundreth pounds, which they will deliver him in London, to be paid unto their Factor at Stoad: but having there no Factor of his own, the said Merchant is contented to make his Bill of Exchange upon the Bankers Factor, payable to him the said Factor, with order and advice, that when the said Bill shall be due, he shall charge him by Exchange again, and take up the Money there, and he will pay the same with the rechange and charges of Factoridge and Brokeridge: wherein they will be sure to make him pay very great use or interest, of fifteen or twenty in the hundreth for the taking up of this Money, and to make it more drier Exchange, they will be contented to take no Bill at all, but the Merchants promise to pay it as other men do at the same time, dealing in Exchange for the said place of Stoad, and in like manner for other places. 4 Cambio fictitio. Cambio fictitio is yet more pernicious, and performed in this manner: A Merchant (to keep his credit) being driven to buy goods for a shift, when Money is not to be had, and he will not be beholden unto others, coming unto them (as having store of commodities at all times) they fain that they have need of Money, and must sell their commodities for ready Money; Provided always (say they with loving protestations) we will pleasure you thus far, look what the goods come unto, we will take it up for you by Exchange for Venice, Lions, or some other place, so as you will pay us for Exchange, Rechange, or any other incident charges: whereunto the merchant agreeing, then shall he be sure to pay sound for the use of the Money, and lose exceedingly upon the wares. These two biting manner of Exchanges being discovered, were by an Act of Parliament prohibited in the third and fourth year of King Henry the seventh: afterwards (as is noted) the Exchange being discontinued in the time of King Henry the eight, it happened that the former abuses came to be rife again in the reign of King Edward the sixth, Exchange was forbidden. which caused the use of Exchange to be utterly forbidden for a short time. But as Ships cannot sail without water, no more can traffic subsist without Exchange in the accustomed places; so that the inconveniences appearing it was restored again in hope of good dealing and reformation promised by other Princes, concerning the Royal Exchange. But in the time of Queen Marie it was again neglected; who being married with King Philip the second of Spain, did connive in those things, because the dominion of the Low-countrieses were esteemed to be under one degree. In the beginning of the reign of Queen Elizabeth, Complaints of Exchanges. new complaint were made of the new Exchanges, by Master Hussey Courtmaster of the Company of Merchant's Adventurers; but no man could apply or find a remedy to moderate the inequality of Exchanges, and to have value for value, as appeareth by Letters Patents granted to the old Lord Treasurer Burghley, who did not execute the same in three and twenty years after for want of true direction, to the great loss of the Realm, as may be seen by a Commission in Blank returned by diverse Merchants: albeit the Italian Merchants in those days could not deny the abuses thereof being expostulated withal, as by their politic Letters appeareth, under the hand of Acerbo Velutelli, Suigo Cavalcanti, and others, who wanted not some upholders to maintain their private benefit. (* ⁎ *) CHAP. II. Of the true calculation of Moneys in exchange by Bills of Exchanges, according to Par pro pari. The true ground of Exchanges. THe true royal Exchange for Moneys (by Bills of Exchanges) is grounded upon the weight, fineness, and valuation of the Money of each country, according to the Par, which is, value for value: and so is our Exchange of England grounded upon the weight and fineness of our moneys aforesaid, and the weight and fineness of the Moneys of each other country, according to their several standards proportionable in their valuation, which (being truly and justly made) maketh the price of Exchange for every place, according to the denomination of the Money, whereupon all Exchanges are made. These Exchanges do much differ in the name and proportion between the gold and silver observed in most countries; so that we are to examine and compare our weight aforesaid, with the weight of other countries, and the finesse of the sterling standard with the finesse of the several standards of the coins of other countries: and if we differ not with them in the proportion between the gold and silver, The manner to calculate Exchange. then may our Exchanges run at one price both for gold and silver, taking the denomination according to the valuation of moneys of each countries: and hereby shall we find how much fine silver or gold our pound sterling containeth, & what quantity of other moneys of Germany, Italy, France, the Low-countries, Eastland, and elsewhere we are to have in Exchange to countervail the same in the like weight and fineness answerable unto ours, be it by the Pound, Doller, Ducat, Crown, Imaginary and real coin. or any other imaginary or real coin, giving always value for value, and receiving the like, which is called Par. But this course of Exchange being of late years abused, and (as it were) made a merchandise, Par of Exchange. doth overrule the course of Commodities and Moneys by rising and falling in price, according to plenty and scarcity of Money, and in regard of discrepaunce and distance of time and place: which made some Merchants (by mistaking) to compare the course of Commodities and Exchange to be a like; as if the measure of a thing, and the thing measured thereby were alone. For even as money is Publica Mensura, or the public measures within the Realm between man and man: Exchange the the public measure of nations, etc. so is Exchange for moneys, the public measure between us and foreign countries for all commodities bought and sold, which therefore requireth a certainty in the calculation of the Par aforesaid, admitting nevertheless an advantage above the same, upon occasions on either side. This Exchange is properly made by Bills, The manner of the Royal Exchange. when money is delivered simply here in England, and Bills received for the same, to have the payment thereof in some other country beyond the Seas, or when the like is done beyond the Seas, and the money is received here in England, and that upon a certain price agreed upon between party and party, which is termed the price of Exchange, whereof Merchants have the only and whole disposing, and buy and sell their commodities beyond the Seas accordingly: without that few or none of them do look into the nature of Exchange, as aforesaid, but only to the present object, which is, to know how the price of Exchange goeth at the time when they have occasion to deal therewith: howbeit such Merchants as never or seldom deal for commodities, but altogether for money by Exchange have another observation therein; and Merchants that will be Exchangers indeed, must know perfectly the weight and fineness of our English coin, and of the foreign coin also, and compare the same together to make the said calculation of Exchanges; wherein they are not to be directed by the valuation which is uncertain and inconstant, Valuation of money beyond the Seas inconstant. much less by the toleration of moneys beyond the Seas to go currant above the said valuation; so that by authority they ought to be governed and directed herein, declaring the true value for value, or Par pro Pari, as the very foundation of all Exchanges: because this is not a fit study for every Merchant's capacity, and may be done nevertheless with great facility, and without interruption of traffic, as shall be declared. But to come first to the particulars concerning weight, we are to know, that in all places beyond the Seas, Weight of money in Exchanges. they use for their moneys (both of Gold and Silver) the mark weight of eight ounces, heretofore spoken of, with the division of twenty penny weight, or twenty English, so called beyond the Seas, and the subdivision of twenty and four grains here, or thirty two azes or grains there. These eight ounces compared unto our pound weight Troy of twelve ounces, are within a little all one, ounce for ounce in weight. But upon the pound of twelve ounces, as aforesaid, which is one mark and a half mark weight of theirs, it is found that in the said proportion of a pound, our weight is heavier than the weight of Germany and the Low-countries by three penny weight; and than the weight of France, Italy, Spain, and Scotland, by four penny weight; all which may be considered in the price of Exchanges, in allowing more or less for the Par according as the foundation of the Exchange lieth, either upon our twenty Shillings sterling, or upon their Crown, Ducat, Doller, Florin, or other coin, which is properly the head or Radix Cambij, The head of Exchanges, or Radix Cambij. whereupon Exchanges were made. This weight is to be considered in the weight of the piece of coin, and from the pieces to the number of them in the mark or pound weight aforesaid. Concerning the fineness of moneys to be calculated in Exchange, the same is known by weight, Fineness of money in Exchanges. for it must be distinguished thereby; that is to say, We ought to know how much fine Silver or fine Gold there is in the mark or pound weight, of the sundry coins of the several standards of moneys of all Countries, where Exchanges are used between us and them: and to calculate the same upon the pound sterling for some places, or upon the Crown, Ducat, Doller, Florin, and other imaginary coins for other places, to the end we may have fineness answered by weight. To understand the premises, let us suppose that a Merchant stranger cometh into the Realm, and bringeth with him many unknown and strange coins, to have the coin of the Realm for it, according to value for value by weight and fineness, and that the said Merchant (having weighed the said coins) hath a sufficient knowledge of the quantity of fine Silver and Gold which is contained in the said weight, The manner to examine the weight and fineness of money. and his desire is to have the same answered unto him by the like weight, and by the like fineness in weight in moneys of this Kingdom. Herein (no doubt) he will be assured, what fineness or fine Silver and Gold there is in our moneys, and that he may have the same by weight in the said quantity of coins, whereupon (after the weight of our moneys) he will calculate distinctly what quantity of Silver and Gold there is in the said moneys, and what quantity of Copper, and so will require the full quantity both of the Silver and Gold, and of the Copper accordingly. So is it with the matter of Exchange, grounded upon the very value of coins, if there were no valuation whereby the price of coins is baptised and receiveth a name, which giveth a denomination of price unto the said coins, or unto the Exchanges of the said coins, which in the manner aforesaid maketh the said price of Exchange. But so long as the calculation remaineth upon weight and fineness, without respect had to the valuation; Definition of Bullion and Alloy. so long may we esteem the said coins to be in the nature of Materials or Bullion; that is to say, Prohibited moneys to be currant, which foreign Nations call Bullion, as it were unlawful and sit to be melted down, from whence the word Bullion is derived, or which other nations call to be Materials, or Mass of Gold and Silver, even as Copper is called Alloy or mixture thereunto. Valuation of moneys in Exchange. Concerning the Valuation of moneys, we have already in the Second Part entreated thereof, compendiously and substantially: so that in this place we are to observe the denomination, which giveth a rate or price unto Exchanges, Proportion between Gold and Silver in Exchanges made in England. even as it doth unto the several Species of money in their kind. Concerning the proportion between the Gold and Silver in the said Exchanges we are to observe. That when the proportion between the Gold and Silver was 12 to one, or one pound of Silver to an ounce of Gold (which is now 13 ½ to one;) then the ensuing calculation in Exchange was true, namely, to account eight Carrats of fine Gold, or four ounces of fine Silver for twenty shillings sterling, reserving in the said rate a reasonable gain for the Merchants towards their gains and charges. But now that the said proportion is altered, and that thirteen ounces and ⅓ part, or four penny weight is appointed to be given for one ounce; of necessity it followeth that the Silver is underualued, and the Gold advanced: so that in matter of Exchange there ariseth a twofold consideration, the one to be established in Par, according to the Gold coins, and the other after the Silver coins. And this measure of Exchange between us and foreign Nations is very tender and delicate; yet Merchants occasions in the course of traffic, do exceed the said limitation upon plenty or scarcity of money, and the many deliverers or takers up of the said moneys according thereunto, which is proper to confirm the mutability of Exchanging above the said Par, but never under the same: for it is like unto the Needle of the Compass, which hath been touched upon the fixed North Star. Some Merchants are so fare wide from the knowledge of the value of coins, and the Exchanges made thereupon, that they are of opinion, That there can be no certain Rate or Par of Exchange set to answer justly the value of the coins of foreign parts, by reason of the diversity and disproportion of the coins of Gold and Silver, and their intrinsical and extrinsical values. But these Merchants are to understand, that the moneys of all Countries have a proportionable valuation relative within themselves, according to their several standards for weight and fineness, only the smaller and base coin have some little known advantage, which may be considered of in Exchange, Proportionable valuation of monies for Exchanges to be made accordingly. if there be cause that the quantity of those moneys do exceed the bigger and finer coin. This consideration hath been had heretofore; and especially in the Par agreed upon between the Low-countrieses and this Realm, in the year 1575., when upon the Philip Doller the Exchange was at twenty five shillings the Par, and the small moneys would exceed twenty seven shillings and upwards, but the quantity did not surmount the better coin. The like was upon the Par agreed upon with the States of the united Provinces, Anno 1586, at thirty three shillings four pence; and with Hamborough and Stoade, to twenty four shillings nine pence Lubish upon the Rickes Doller of thirty three shillings, or nine marks four shillings for our pound sterling of twenty shillings, making four Dollars and one half to answer the said Par, which Doller is enhanced since to fifty four shillings, and were receive now but four Dollars for the same, and so for other places accordingly. CHAP. III. Of the Denomination of the Imaginary Moneys of all Places, whereupon Exchanges are made by Bills. THE Denomination of moneys, which we call Imaginary, is because there is not any peculiar or proper money to be found in Specie, whereupon the Exchanges are grounded, as it was in times passed in many places, where some moneys were the cause to ground the price of Exchange upon: as our Angel Noble, being coined for six shillings and eight pence sterling, whereupon Exchanges have been made, as now is done upon twenty shillings, and so might the new pieces of our Sovereign King james Laureate, be taken. But it is more proper to make Exchanges upon the silver coins; for the price of commodities is most ruled thereby in all places, which by the quantity is five hundreth to one. Hence did proceed the cause that when our Gold in the year 1611, The price of Gold not so effectual, as the price of Silver. was advanced ten in the hundreth above the Silver, the prices of commodities did not rise, albeit foreign Nations did cause the price of Exchange to fall. But if Silver were enhanced, presently the price of commodities would follow as the rule thereof, and the price of Exchange would fall more, for Exchange will overrule both. In like manner do we call the moneys of other Countries, whereupon Exchanges are made to be Imaginary, as the Dollars in Germany, the Crowns in France, the Ducats in Italy and other places, which by the great diversity you may understand as followeth: together with The Calculations of Merchant's Accounts, whereupon their Books of Account are kept, according to their Imaginary Moneys. Pound Flemish. IN Flanders, Brabant, and most places of the Low-countrieses, they keep their Books of Account and Reckon by twenty shillings Flemish, every shilling twelve deniers or pence, which shilling is six styvers. In Artois, Henalt, Pound Tournois. and other places by pounds tournois of twenty stivers, or forty pence Flemish, whereof six called guildrens or florins, make the pound Flemish in all the seventeen provinces of the Netherlands. Some do reckon by pounds Parasis, which are but twenty pence, Pound Parasis. whereof twelve make the pound Flemish: but their accounts (as also the reckonings of their Prince, or Finances) are kept by pounds Tournois, which pound they divide into twenty shillings, every shilling into twelve pence; and the like is done by the pound Parasis, and these have also their subdivisions of Obulus, Maille, Heller, Hallinck, Corte, Mites, Point engevin, Poot, and such like copper moneys, too tedious to rehearse. In Germany, in the year 1520, Gold guilder. was the gold guilder coined for a general coin, and valued in Holland for twenty eight stivers, which is now in specie at double the price; nevertheless they do continue to buy and sell all that great quantity of corn which is brought from the East countries, Poland, and other places, by the said gold guilder of twenty eight stivers. Their dolor was coined at sixty five Creutzers, since risen to seventy two Creutzers, Creutzers. yet their Exchange is made upon the dolor of sixty five Creutzers, which is imaginary. At Augusta the Exchange is made upon the said dolor of sixty five Creutzers, at three weeks, or fourteen day's sight after the bill presented. At Frankford they reckon by the guilder of sixty Creutzers, Florins of 60 Creutzers. called in Latin Crucigeri, being pieces with a Cross, they are Florins, and their Exchange is made upon the dolor of sixty five Creutzers, payable in the two yearly Fairs or Marts; the one the week before Easter, and the other in the beginning of September to continue for all the month. At Norenborough their Exchange 〈◊〉 made upon the said dolor of sixty five Creutzers, and many times upon the Florin of sixty Creutzers, which they also divide into twenty shillings, and every shilling twelve pence, to keep their accounts by. For Bohemia, Bohemicos. Exchanges are made upon the dolor of twenty and four Bohemicos. At Vienna they reckon by guilders or florins of eight shillings, of thirty pence to the shilling, & two Heller to the penny, and Exchange is made thereupon. At Baviera by guilders of seven shillings, of thirty pence, divers guilders. for Exchanges and Accounts. In Hungary by guilders of ten shillings, of thirty pence, and by florins of twenty shillings, and twelve pence to the shilling, and Exchanges are made upon their ducat. At Breslo and Leypsich they reckon by marks of thirty and two grosses, of twelve heller to the gross, Marks of 32 grosses. and they Exchange by thirty florins Breslowes, to have at Vienna thirty and four florins, or at Norenborough thirty and two florins. Pounds of 20 shillings, & 12 hellers etc. At ulme they reckon by pounds of twenty shillings, and twelve heller to the shilling, and their Exchange is is made upon the dolor of sixty creutzers. At Colloigne by dollars of seventy two creutzers, for Accounts and Exchanges. Pound sterling At Embden they reckon by guilders, and Exchange upon the rickx dolor; but from London thither and hither upon the pound sterling of twenty shillings. Marks of 16 shillings. At Hamborough they account by marks of sixteen shillings lubish, of twelve pence to the shilling; Exchanges for London upon twenty shillings sterling, and for other places upon the rickx dolor before mentioned of thirty and three shillings, now by them enhanced to fifty and four shillings lubish, or so many stivers Flemish. In Pomerania they reckon by marks of sixteen shillings snudens, and the Exchange is upon the rickx dolor of thirty and two shillings of two snudens. Eight marks a dolor. In Sweden they reckon by marks, whereof eight make a dolor, whereupon they Exchange, and two marks make a Clipping of 9 ½ stivers. In Denmark upon marks of sixteen shillings; Exchange upon the dolor. Polish guilders of 30 grosses. In Dansieke they keep their account in Polish guilders of thirty grosses, every guilder of eighteen pence to a gross. They buy with the great mark of sixty grosses, or the little mark of fifteen gross, also by Scoc of three great marks; and they Exchange upon the florin Polish, or upon the pound Flemish, payable at fourteen days, and also one month. Florins Polish of 18 farthings At Riga they buy by dollars or florins Polish of eighteen farthings, whereof the eleven make ten dollars: but their Exchanges is made upon the rickx dolor. The accounts in Barbary are kept, and commodities are sold by a ducat of ten ounces to the ducat, and 8 eights to the ounce, valued at twelve pence sterling. In Poland their accounts are made by marks, and the Exchanges upon the dolor, Florins of 48 shillings. and also upon the florin of forty and eight shillings, the mark being; part of it. In Russia they have small coins of eleven ounces fifteen penny weight fine, called Dengen, whereof three hundreth and twenty pieces weigh but a mark of eight ounces. They Exchange upon the dolor of Germany: but for London upon their roble, which is double ducat, Roble or mark double ducat, accounted to be a mark sterling, or thirteen shillings four pence. Ducat Di Camera. At Rome they keep their accounts by ducats Di Camera of thirteen julie every ducat, which they divide in twenty shillings, and every shilling 12 pence. Their Exchange is also made upon the said ducat de Camera, which for Lions are made payable in marks D'or, or of gold, so called, but are imaginary. At Milan, they keep their Accounts by ducat imperial, Ducat imperial. divided by twenty shillings and twelve pence, and their Exchanges are made also upon the said ducat, accounting eighty shillings to the ducat imperial. But all their buy are made by a ducat currant of one hundreth and twenty shillings. At Venice they account by pounds Flemish, Ducat di Banes of ten ducats of twenty and four gross, which they divide in twenty shillings and twelve pence, also by the ducat of one hundreth twenty and four shillings, called Ducato di Banco, or currant, and thereupon Exchanges are made. At Florence they account by crowns of twenty shillings, Ducat Largo, or Scripto in banco. and twelve pence to the shilling, or by a ducat called Largo, or scripto in banco for Exchanges. Florin is twenty and four Quatrinij. At Genoa, Crowns of 60 shillings. all Accounts and Exchanges are made by crowns of sixty shillings, divided by twenty shillings and twelve pence; and here are above fifteen Banks or Exchangers. At Verona the Exchange is made upon the Ducat of ninety three shillings, and they make their accounts by twenty shillings, Ducat of 93 shillings. and twelve pence to the shilling. At Luca Exchanges are made for diverse places in Italy; and for Lions upon the ducat. At Naples, they account by ducats, tarries, and grains, Ducat of ten Carlini. the ducat ten carlini, tarry is two carlini or two royals; and Exchanges are made hereupon for the most places of Italy. But for Lions, they Exchange by number, as one hundreth twenty and five ducats for one hundreth crowns. In Calabria, Puglia, Exchanges are made upon the said ducat of ten carlini. At Ancona exchange is made upon the ducat of twenty and one gross, which is in specie twenty and three gross, Ducat of 21 gross. and is also fourteen carlini, of six Bollidini for a carline. At Bolognia they account by Piastra or pound of twenty Bolognesis: the Exchange is upon the ducat of four Piastri. Piastra or pound. At Palermo in Sisilia the ducat is thirteen tarry, of two carlini the tarry. The five royals of Spain are six tarry, Ducat of thirteen tarry. they account by ounces of thirty tarry to twenty grains, every tarry and every grain of six piccolie, and their Exchanges are made upon florines of six tarij. At Lions in France, all their accounts by an edict made in the year 1577 are to be kept in French crowns of sixty sou, or three pounds' tournoys, and their Exchanges are made thereupon, Crowns of Exchange. unless it be for some places in Italy, where they exchange for number, to have so many ducats for so many crowns of the sum, but not in specie, which is altogether imaginary, yet respecting value or Par. At Paris, Rouen, etc. their Accounts and Exchanges upon the said crown. Ducat of 375 Maluedies. In Spain, at Seville, Madrill, and other places, their accounts are all kept by Maluedies, whereof three hundred seventy and five are esteemed to make a ducat of exchange of eleven rials, every rial is thirty and four Maluedies, and so maketh but three hundreth seventy and four. Others keep their accounts by rials of thirty and four Maluedyes in rials, as our English Merchants do, and their Exchanges are made upon this imaginary ducat of three hundreth seventy and five Maluedies, to be paid in Bank, with five upon the thousand, which is the salary of the Banker; or without the bank to be paid without the same. Ducat de Peso or D'oro. In Castille, their Exchanges are also made upon the ducat of three hundreth seventy and five Maluedies, which they call in the Bill of Exchange Ducados d'oro, or de peso, to be paid out of the bank, is better by six or eight pro milliar. Ducat of 12 royals. In the kingdom of Arragon, Barselona, Valensia, Saragossa, and Catalonia, the royal of plate is twenty and three dineroes, and the ducat is twelve rials, whereupon they make their Exchanges: and their accounts are by twenty shillings and twelve pence for every ducat of twelve royals, as aforesaid. Ducat or Crusat of 400 reas. At Lixborne they keep their accounts by Mill Reas, whereof four hundreth Reas make a ducat, alias Crusado. Mill Reas is twenty and two royals of ten testons, every teston is one hundreth reas. There is also testons of four vintains, the royal is two vintains, and the Exchange is made upon the ducat of four hundreth &c. Sultanee of 120 aspers. In Turkey at Aleppo, Tripoli, and Constantinople, by Sultanee of one hundreth and twenty aspers, or dollars of eighty aspers, every asper is ten Macharines'. At Alexandria in Egypt, they account by ducats. There is ducat de Pargo making three ducats of Venice, Ducat de Pargo. also Italian ducats of thirty and five maids, and the Venice ducat is better, and maketh forty maids. Mark Scots. At Edinburgh in Scotland, Exchanges are made upon the mark piece of silver, which is valued in England at 13 ½ penny, being otherwise 13⅓ penny, or thirteen shillings four pence Scots: So one mark and a half Scots is twenty shillings Scots, and twenty pence sterling is one pound Scottish, Pound Scots. which is twelve to one. The 18 pieces of twenty shillings, is by the said Valuation twenty shillings three pence: and the Taker up of the money at London, payeth for twelve pence the said mark of 13 ⅓ pence, at two or three months Time in Scotland, as they can agree. Pound Irish. At Dublin in Ireland the fifteen shillings sterling, is one pound Irish of twenty shillings; whereupon Exchanges are made, with allowance of six pence or eight pence upon every pound payable at London: and for want of a Mint no Bullion is imported thither, and Exchanges are diverted into other parts. At London all Exchanges are made upon the pound sterling of twenty shillings, and twelve pence to the shilling, for Germany, Pound sterling the Low-countrieses, and other places of traffic: and for France upon the French Crown: for Italy, and Spain, and other places upon the Ducat, or for the Doller and Florin in some places, according to the Custom of the place. Whereof more particularly is to be observed in the course of Exchanges. CHAP. FOUR Of the Times of Payment of Moneys by Exchange, and the Terms of Art used therein. THE discrepance of Time for the payment of moneys by Exchange, hath a regard to the distance of the place or places where the money is to be paid: wherein we may consider three kinds of diversities, called by the Terms of Art in matter of Exchange; at Sight, Usance, and double Usance, or triple. The taking and delivering money at Sight, At Sight. bindeth the Taker up of the moneys to give his Bill of Exchange, directed upon his friend Factor or Servant in any place beyond the Seas, to pay upon Sight of it, or within three, four, or more days, so much money as hath been taken up by him after such a rate the Pound, Doller, Ducat or Crown, as is agreed upon between them in foreign coin, either according to the Valuation of moneys, or currant money for merchandise, which is more ordinary, because Merchants will admit sometimes to receive some coins at a higher rate than they are valued, upon occasion that some Species are required for transportation, or some other use to make payments; Policy of Estates. which toleration is by authority many times suffered to draw moneys unto their places of jurisdiction. Herein is to be noted, That if the Bill be made payable at so many day's Sight, that the number of days must be expressed in the Bill or Bills; for commonly there are made three Bills of one Tenor for every sum of money taken up, because if one Bill be lost, the other may serve in place. The second Time of payment called Usance, At Usance. which is either the Time of one month, two or three months after the date of the Bill of Exchange, as hereafter is declared, according to the Custom of the places where these Exchanges do run: according to which Time the party (upon whom the Bill of Exchange is directed) is to pay the same, unless there be good cause to the contrary, as shall appear hereafter. Double Usance, and triple Usance. The third Time of payment, called double Usance, is either two or more months, or always double the Time of the Usance, respecting by Custom the course thereof: and many times Exchanges are made upon the half Usance, which is fifteen days. But considering the wind and other hindrances, it is better to limit the days after Sight in the Bill of Exchange, and to send the same by Sea and Land with a Letter of Advice, which the Taker of money commonly doth deliver with the Bill of Exchange, whereunto the Bill maketh also relation, and triple Usance is accordingly. Payments in Fairs or Marts. There is another Time for the payment of Exchanges, where great payments are made, as in Fairs or Marts, as at Madrill and Medina del Campo, by three Ferias in the year; at Lions by four payments yearly, and at Frankford twice every year, etc. The difference of the times of payment, do alter the price of Exchanges according to the Time, commonly after twelve, fifteen, or twenty in the hundreth by the year: So between the pound sterling Exchanged for the Low-countries at Sight and Usance, is between four and five pence, and double Usance and Usance, six or seven pence, which ordinarily was accounted to be but four pence after 10 pro 100 But for the Fairs and Marts it is very uncertain, because the payments are all at one Time, and the nearer the Fairs are at hand, Consideration in Exchanges. the more shall the Taker up of the money save by paying less interest, because he hath not had the use of the money from the beginning that Exchanges were made for the Fairs, which in questionable matters is very considerable. Usance from London to and from Middleborough, Amsterdam, Antuerpe, Bridges, and other places in the Low-countrieses, is one months Time from the date of the Bill of Exchange; and double Usance is two months. Usance for Hamborough is two months, and for Venice three months. Usance from Antuerp to Rome, is two months; and from Lions to Rome one month. Usance from Antuerp to Venice is two months, to be paid in Bank. Usance at Florence is two months; and from Florence to London three months. Usance from Genoa to Rome and Naples, is ten days Sight; and for Palermo and Antuerp is two months by ordinary observation, and so is Luca: From Naples to Antuerp is two months; and the like for Palermo. Usance for Rouen and Paris is one month, but commonly at three week's Sight. From Antuerp and London to Seville is two months. Castille payments are in three Banks, and Ferias de Villalon, Medina del Campo and Medina del Rio Sicco; but many times prolonged by the King of Spain. Usance from Lixborne to London and Antuerp is two months, which Merchants are to know, because the Bills of Exchanges do not declare the same. CHAP. V Of the Nature of Bills of Exchanges. THE Nature of a Bill of Exchange, is so noble and excelling all other dealings between Merchants, that the proceed therein are extraordinary and singular, and not subject to any prescription by Law or otherwise; but merely subsisting of a reverend Custom used and solemnised concerning the same. For the better declaration whereof, let us set down the form of a Bill of Exchange from London to Amsterdam, and from Amsterdam to London again, viz. Laus Deo; Adi 20 August 1622, in London— 500 ll, 34 ss 6 d. AT Usance pay by this my first Bill of Exchange unto A. B. the sum of five hundreth pounds sterling, at thirty four shillings and six pence Flemish, for every pound sterling Currant money in merchandise, for the value hereof received by me of C.D. and put it to account, as per advice, A Dio, etc. G.M. On the Backside is endorse: To my loving friend, Master W.C. Merchant at Amsterdam, Pa. This is the form of a Bill of Exchange for moneys delivered and taken up at London for Amsterdam: the second Bill doth differ in the addition of these words only, At Venice not having paid by my first Bill, pay by this my second Bill, and so in the third Bill: For there are commonly three Bills made, as aforesaid. Laus Deo; Adj 20 of September 1622 in Amsterdam— 100 ll at 33 ss 6 d. AT Usance pay this my first Bill of Exchange unto W. M. the sum of one hundreth pounds lawful money of England; for the value here by me received of D. H. make him good payment and put it to your account: God keep you. Subscribed. W.C. On the Backside is endorsed: To my loving friend, Master G.M. Merchant at London, Pa. 1 This is the form of a Bill of Exchange for moneys, taken up at Amsterdam to be paid in London, wherein the Time of payment may be made at Sight, or so many days after Sight, or at double Usance, according to the agreement: or the Bill may be directed to my servant, or to himself or any other: or it may say, Put it to the account of such a man. But the best is to refer it to the Letter of Advice, and where the first Bill is noted Pa. the second must be 2a. and the third 3a. You may not say in the Bill, It may please you to pay, or I pray you to pay (although it were to your Master;) for the Bill (of his high Nature) doth carry with it a Command without respect of persons, and most men will not use the words (Make him good Payment) but the fewer words the more formal; neither is there any witness unto it, nor any seal, but a small piece of paper of some two fingers broad: and the Letter of Advice doth declare for whose account, or to what intent or purpose the said money is taken up; which Letter of Advice, doth accompany the Bill of Exchange with the like inscription, with the words De adviso. Also for moneys here delivered (where the ground of Exchange is of the twenty shillings whereupon the Exchange is made) you may not express what the sterling money maketh in Flemish money; not so much for that by miscasting you might make yourself liable, as for that it is not mannerly to cast up another man's account: neither may you make a Bill of Exchange payable to the bearer or bringer thereof (as you make your Bills obligatory beyond the Seas) to avoid the inconvenience which might happen in derogation of the nobleness of the said Bill of Exchange, Although now used, or abused. which every Merchant is to maintain. All other Bills of Exchanges for Germany, Spain, Italy, France, the Low-countrieses, Portugal, or any other places between them, to and from place to place, do not differ in the form, but in the manner of the moneys to be paid in Bank, or out of the Bank, or in such a Fair or Mart, at such times and in such moneys according to the countries'. 2 The Bankers and diverse Italians have a custom, Rare customs in Bills of Exchanges. that for the moneys taken by them, or for their company, or any other, one of their servants doth make the Bills of Exchange, and he subscribeth the name of him, or of the Company for whom it was taken up: and the master he doth write under the said Bill Pagate come si dice, that is to say, Pay as it is said; and this goeth as currant amongst Merchants as any other Bill made by the parties own hand, and all proceed thereupon are done accordingly. 3 They have also an ordinary custom to transfer and put over their Bills of Exchanges before they are made, unto any other person, as for example. One in Antuerpe doth deliver by Exchange five hundreth pounds sterling, to be paid here in London unto another Merchant there, who is to make him a Bill of Exchange for the same: afterwards within two or three days this deliverer of money hath occasion to take up five hundreth pounds for London, and having taken the same of another Merchant, he is to make him also a Bill of Exchange for this money, as the other Merchant was to make him for the five hundreth pounds which he did deliver him by Exchange for London, as aforesaid. Hereupon he knowing the name of the party in London to whom the other man's money was to be made payable, caused the Bill of Exchange to be made payable to the said party, as he should have done with his own proper Bill of Exchange; and whereas the value should be mentioned to be received of the second man, that did deliver him the money, he causeth both of them to be named in the Bill, and sometimes three or four are named in the said Bill (if it be so often rechanged) by saying, For the value received of such a man for such a man and such a man, upon the account of such a man. This is good at all assays, for the reverence which is borne to Bills of Exchanges, and by these means there is charges and factoridge saved between the parties: besides the commodiousness, that one man doth writ and send this Bill of Exchange for all those that did change and rechange there the said money, which is not done all in one sum, and with one Bill of Exchange; but the sum may be made up by many Bills of Exchange payable all to that man, although it be by diverse persons: such and the like courses are daily used and practised beyond the seas without interruption in matter of Exchange, which may seem to be intricate. This course of dealing is altogether strange to the common laws of England, and cannot be determined thereby. For whereas (with the advice of Merchants) some matters upon Bills of Exchanges have been tried upon an Action of Assumpsit, here is neither consideration nor Assumpsit to be proved, unless the Bill had been accepted, wherein are many observations. To make this more apparent therefore, let us illustrate this by example. Peter delivereth five hundreth pounds to john, who is to give the Bill of Exchange for it; Peter taketh up five hundreth pounds of William, and may give him the said Bill of john for it; William taketh up five hundreth pounds of Nicholas, and may deliver john and Peter's Bill for it; Nicholas taketh up five hundreth pounds of Francis, & doth give him the Bill of john, making mention of Peter and William. Here are four takers up of money, and but effectually one deliverer of money, which is Francis: for albeit that Peter was the first deliverer of the five hundreth pounds, he became a taker again of the said money, receiving the same of William; so that gradatim, john is the first taker up of the said five hundreth pounds, Peter is the second taker up, William is the third taker up, and Nicholas is the fourth taker up of the said five hundreth pounds of Francis. To this Francis is the Bill of Exchange given, payable to his friend, factor, or servant in the place for which the money was taken up. But the said Bill is made by john the first taker up of the said money, declaring that the value of it was received of Peter for William and for Nicholas upon the account of Francis, which is the last deliverer of the money: which Bill being paid, all the parties in this Exchange are satisfied and paid; and this is done with great facility. 4 There is also a custom, that moneys are taken by Exchange for a certain place, by men who are not generally known, and therefore must use the credit of another man, as a third person in the Exchange. If this man do subscribe his name to the third or second Bill of Exchange, it is sufficient, and will be duly performed accordingly. 5 It is also ordinary, that a master to draw money from his servant into his own hands, or a merchant in the like case from his factor, will make a Bill of Exchange payable to some other person, and say in the Bill of Exchange, For the value received of such a one, naming a friend of his, as he taketh the said person to be; if the servant or factor do accept this Bill, he will be made to pay it; and if this person whose name hath been used will deal unjustly, the master or merchant shall be remediless, unless he have some collateral writing for the same, because the Bill of Exchange must be maintained. 6 Again if a known servant do take up moneys beyond the seas, upon his master, and give his Bill of Exchange for it upon the said master, the master is liable to pay the same, although he did not accept the Bill of Exchange; for it is understood, that by his credit (and not by the servant's credit) the money hath been taken up; so that until he make a public declaration, denouncing his servant to the Brokers of Exchanges and otherwise, the master is to pay all by the Custom of Merchants to be kept inviolable. 7 There is also a custom, that a master unto his servant, or one friend unto another, will send Bills of Exchanges, with the names in blank, from one country into another, as from Hamborough to Embden, or from Antuerpe to Amsterdam, and from thence to Dansicke: and at Amsterdam the names are put in to whom to be paid, and of whom received; and this dependeth upon the credit of him that made the Bill of Exchange, and this is also accomplished very orderly. 8 Again a Merchant may take by Exchange (in another man's name, or in his own name and another man's name together) money to be paid in any place where Exchange is used, and subscribe his name, and that man's name, or that man's name alone: and this man (whose name is used) is liable and answerable to the said Exchange, if it be proved that it was done, or the like used to be done by that other party with his consent or privity, for to avoid inconveniences in the course of Exchanges. 9 Nay this goeth yet further to be considered of in equity and so adjudged, that if a man do take up money for any place by Exchange posito, from London to Middleborough, and there the money is paid, and taken up again by Exchange for Antuerpe, and there it is also paid by money taken up for Amsterdam, and at Amsterdam it is paid, for the said money was taken up there again for Middleborough, and at Middleborough it was again returned and taken up for London in one or more sums running in account between all these parties dealing therein; but here at London it is not paid, but goeth back again to Middleborough by Protest, and there the taker up of it becometh insoluent. Now if it be proved that those moneys were originally taken up in London by the credit of that first taker, which hath been a principal cause of the continuance of it by Exchange, this man of London is to be charged with it as well as the taker up of the moneys beyond the seas. Thus may we see how tender and noble a Bill of Exchange is of nature, which by the proceeding thereupon will be made more apparent. (* ⁎ *) CHAP. VI Of the Non-acceptation of Bills of Exchanges, and Customs observed concerning the same. THis high nature of a Bill of Exchange, requireth such preciseness of proceed to see the performance thereof, that every man ought to be very vigilant to observe the same: and therefore as soon as a Merchant receiveth a Bill of Exchange, whether it be payable at Sight, Usance, or double Usance, he is to present the said Bill of Exchange to the party upon whom it is directed, to know whether he will accept the same, which if he do, or promise (by writing under it the word Accepted, First observation. or with the addition of his name, Accepted by me A. B.) than the party is to pay it at the time contained in the Bill: but if the said party be not resolved to accept the same, then after twenty and four hours past, it is convenient to present him the said Bill with a Notary to make intimation of it unto him, and to know whether he will accept the same, as you did before: if he deny to accept it, than the Notary doth Protest against him in words, that the Merchant doth intent to recover all damages which he, or the deliverer of the money beyond the seas, or himself for others might or shall sustain thereby, whereunto the party needeth not to make any reply: but if he do, and withal desire the Notary to declare the same in the notarial Act or Protest which he maketh for the Non-acceptation; then the Notary is to put it down in writing accordingly, and to deliver the same to the Merchant to be sent beyond the seas with all expedition, because the deliverer of the money there may take notice of it, and secure himself of the party, if there be cause, and in the sending of this Protest of Intimation. The opportunity of the first Post is to be observed to send the same by. Second observation. If the Merchant to whom the Bill is payable were absent, or sick, or departed this life; nevertheless any friend or servant of his may cause this Protest to be made by the Notary, who doth declare the name of him at whose request he doth present the said Bill of Exchange. If the party unto whom the Bill of Exchange is directed be absent or will not be found, the Notary may proceed nevertheless, Third observation. and go to his lodging or dwelling house, and leave afterwards the copy of the Protest with some of the house, or throw the same within doors, and keep a note of it against the next time. But these Protests must be made at convenient hours, neither too early in the morning or too late in the evening, neither upon Sabbath days or Holy days, but (as it were) Sedente Curia, when any Courts of justice be open. Before the time of the payment of the said Bill, Fourth observation. the party may notwithstanding accept the said Bill and pay it at the time; or another man may accept the Bill for the Honour of it, if you take that other man to be sufficient; wherein the danger is nothing, for all others remain still answerable, and you have one man more bound by the said his acceptation: which he doth in these words, Accepted by me A. B. for the Honour of the Bill. If this man at the time, doth pay the said Bill of Exchange, Fifth observation. because the party upon whom it was directed doth not; yet he is to make first before he do pay the same a Protest, with a declaration that he hath paid the same for the Honour of the Bill of Exchange, whereby to receive the money again of him that had made the Bill of Exchange. If a Bill of Exchange be accepted, and nevertheless not paid, Sixth observation. or that it be not accepted, as aforesaid, and remaineth unpayed: then must you cause the Notary to make a second Protest for the non payment of it, and therein declare that you pretend to recover all damages, charges, and interests against the maker of the Bill, or any other interest in the said Exchange and Rechange, which must be declared in the said Protest by a sworn Broker of Exchanges, who giveth notice of the price of Exchange to the Notary; and if there because or hope of payment, you may keep this Protest two or three days in your hands without danger, or else send it away to be recovered beyond the Seas of him that made the Bill of Exchange and took up the money there. But if this Bill were accepted here, Seventh observation. then is it lawful to demand payment of it by Law or otherwise, both here and beyond the Seas at your pleasure until the Bill be satisfied; neither may the party that made the Bill leave it unpaid (without discredit) until he that hath accepted the same do pay it or be compelled thereunto by Law; for there must be plain and honest dealing in it both ways: and if the party that did accept the Bill, do afterwards break before the time of payment, the giver of the Bill, or any other whose credit hath been used therein are still answerable for all. There must be great regard had of the Letter of Advice, Eighth observation. and the Bill of Exchange, and for what account the same is to be paid before you accept the same: For if a Bill shall say, Put it to the account of such a man, and the Letter of Advice upon some occasion shall alter the same; you cannot safely pay this Bill of Exchange, but must declare the same by way of Protests, otherwise the Bill of Exchange may be construed against you, if there be differences in account, whereupon the matter may come in question. Ninth observation. Again, if a man do accept a Bill of Exchange within himself, as being made payable to himself, and he doth it upon another (than either the Bill of Exchange or the Letter of Advice doth signify) he must also make a Protest declaring the same, or he shall pay it in his own wrong by the Custom of Merchants. Tenth observation. If a man do pay a Bill of Exchange before it be due, unto one that doth break afterwards, he shall be compelled to pay the same again unto the deliverer of the money, in whose power it is to divert the payment, or to cause the Bill to be altered and made payable to another during all the time of the payment. Eleventh observation. If a Bill of Exchange be intercepted by any means, and taken from the Post that should have brought the same, and the party to whom the Bill is payable having advice of it by other Letters, doth come to him upon whom the said Bill was directed, and desireth his promise of acceptation, without that the Bill is showed him, and afterwards doth pay him the same accordingly, without taking any Bill of Exchange for it; this payment is not good nor lawful by the Custom of Merchants, and the deliverer of the money beyond the Seas will recover it of you again. Twelfth observation. If Protest of non payment be made of a Bill of Exchange, which hath been set over or transferred to many persons, as in the case before declared, where Francis was the last deliverer: then all the parties interressed in that Exchange are answerable for it, insomuch that Peter who was the first deliverer of the money, and afterwards became a taker, doth bear adventure of all until the Bill be paid, and so do all the other takers named in the Bill. As for example, Francis the party who took this Bill, as being deliverer of it at last must go a retrograde course herein, if john who made the Bill and was the first taker up do not pay the same: Francis then seeketh Nicholas, Nicholas seeketh William, William seeketh Peter, and Peter seeketh john, the first taker of the money of him. Suppose john is broken, than he goeth to Peter; If Peter broken, then to William; if William broken, then to Nicholas; if Nicholas broken, than all is lost. So that all of them are answerable to this Bill, as abovesaid. These twelve observations, are to be kept and maintained by the Custom of Merchants, concerning Bills of Exchanges, as carefully and seriously as the Romans did their Law of twelve Tables so much celebrated by them. There happened of late a case worthy the consideration for matter of Exchange: A case about Bills of Exchanges which were accepted. A Merchant of Antuerp being indebted unto another Merchant there, did deliver several Bills of Exchanges for the sum of 800 ll upon a Merchant in London, who did accept all the said Bills of Exchanges, which were payable at Usance and double Usance; after this the Merchant that gave the said Bills in Antuerp to the other Merchant, did break: hereupon the Merchant at London (repenting himself to have accepted the said Bills) maketh Intimation by a Notary to the parties to whom the Bills were paiable, that he did not intent to pay the said Bills, because the party broken in Antuerp had not received the value of the money of the other Merchant there; although the Bills of Exchanges did acknowledge the receipt, for the Bills were given upon accounts between them, which were to be made up, and he was not to clear their accounts, and the party broken did owe unto him fare greater sums. The parties at London answered the Notary, that they looked to be paid according to the acceptation of the Bills of Exchanges, and for other matters they had nothing to do therewith. Interim, the party at London who had accepted the Bills died, and so all the Bills returned Protested, and the matter rested undetermined: but the opinion of other Merchants and my own is, That the acceptor of the Bills was to pay them, and his heirs and executors are liable thereunto, unless there were found an apparent combination and practice in it between the two Merchants of Antuerp, as was by many suspected. Thus much concerning the observations of Exchanges. CHAP. VII. Of Notaries, Intimations, and Protests. THE Intimations of Notaries well and orderly made, may be called to be true Probation of the Originals in the Courts of Law and Equity, whereby the better foundation may be laid in all litigious causes, which take their feeling beginning of a wrong done, The time of Intimations and Protests. whereof Intimations are a manifestation, and Protests (as being more sensible) are means of the redress thereof: both these have a tripartite reference in the course of traffic to Commodities, Money, and Exchange of Money by Bills of Exchanges, according to which we are to make our declaration, observing first and foremost that the time to make the said Intimations and Protests must be observed, both for days and hours, as hath been noted; for the hours convenient, are when the actions of men are publicly done in the day time, neither too early nor too late, but (as it were) at such time as matters are ordinarily heard in judicial Courts, wherein the Sabbath days and Holidays are excepted, which they are likewise to observe. Commodities to be delivered by a day. For commodities bought or sold, to be delivered at or before such a day, it is not sufficient to make Intimation and to tender the commodities before the day; but it must also be done upon the last day, and to take witness of it: and if the commodities be not of the goodness that they ought to be by the contract or bargain made, and nevertheless for some causes you do not hold convenient to refuse them; let there be made a notarial Instrument or Act concerning the defectiveness of the commodities, with a protestation of your intention to recover all your damages and losses sustained or like to be sustained thereby, which will be very available unto you upon all occasions. This is much observed beyond the Seas, especially upon the ladings of Ships which are to take in the same, or else may incur a further danger unto the charter-party of fraightment. And whereas the master of the ship will make a Protest against you, if his lading be not ready at the day appointed or agreed upon, so is it reasonable, that you make the like. Protest against the party that sold you the commodity to be delivered at such a day: and if it do fall out that you have committed the like fault, and thereupon a Protest is made against you, and the Notary will crave your answer, to be recorded, that thereupon at convenient time some advantage may be taken against you, (the not answering being taken to be discourteous or brutish) the ordinary answer is, Video & taceo, or, I do hear and see; which words the Notary doth insert in his Act, Intimation, or Protest. Money's payable by Bonds or Specialties. If Intimations, Protests, or Witnesses be made concerning the receipt and payments of moneys upon Bonds, or other evidences limited to a day, you are then to observe the last hour of the day and to tender, or to attend for moneys to be paid or to be received until Sun set, at the place where the same is to be paid, and commonly stay there one hour after Sun set with witnesses: and if the house, lodging, or place be shut up, make your tender or demand upon the threshold of the door, but the money must be told even, and then put up again into the bags, and to take notice and witnesses of it, under their hand writing of the day and hour when the money was tendered; or on the other side when it was demanded. But this last is in case when moneys are made paiable upon reasonable demand. Money paiable upon reasonable demand. For albeit that moneys simply acknowledged to be owing by Bill or Bond, without limitation of time for the payment, are taken to be due ipso facto, that is as soon as you did underwrite the said Bill or Bond: yet civility requireth a kind of Intimation and demand, which is the reason that by the Civil Law, although a Bill have a time limited for the payment, yet if the same be thirty years old, and hath been never demanded, it is void of course, and cannot be recovered by that law. And Bills made upon reasonable demand, if they be not demanded in seven years, which is accounted for the life of man, it is void also; for there must be a determinate course in all things, or a continuance by way of reviuer: therefore lands holden in quiet possession for the space of sixty years, is a perpetual inheritance by the said Law. If moneys payable upon the forfeiture of a bond, Moneys taken which were payable upon a forfeiture. have been taken, or rob upon the high way, or otherwise, whereby the bond could not be paid upon the day, yet is it necessary to make Intimation of it, at the place where the same was to be paid, to avoid all such advantages as may be taken thereupon, upon the redemption of Lands or Leases, jewels, or any other commodities, wherein the Courts of Equity will relieve a man hereupon the sooner; for it is a demonstration of a good will and intention prevented by such a mischievous accident; Et si desint vires, tamen est laudanda voluntas. Concerning Intimations and Protests to be made upon Bills of Exchanges, for the non-acceptation of payment; it is to be noted, For non-acceptation of Bill of Exchange. that the first Protest which is in the nature of Intimation, requireth more celerity than the other: and albeit, that by custom the party who is to accept the same hath twenty and four hours' respite to deliberate before he giveth his answer, nevertheless it is not good to lose any time in the making of the Protest of acceptation. For if there be no pregnant cause, the Protest may be left in the hands of the Notary for a while; but your diligence cannot be discommended. This Protest being made, For nonpayment of a Bill of Exchange. and afterwards the Bill of Exchange becometh due, the Notary is the fittest man to demand the payment, or to Protest, unless the party upon whom the same is directed, do give notice that he will pay the same, which done there is an end. If a Bill of Exchange (by contrary wind, or other occasions) be so long upon the way, that the Usance, or the time limited by the Bill be expired, and being presented to the party for the payment, he will not pay the same, than the Notary doth make the Protest, both for the non-acceptation, and for the nonpayment, reciting the Bill of Exchange verbatim. And moreover he calleth unto him some sworn Broker of Exchange, The manner of payment of a Protested Bills. to know how the price of Exchange runneth at Usance for the place where the money was taken up, and he maketh of it a declaration in the Protest, according unto which, it must be answered beyond the seas, with Change, Rechange, Brokeridge, and all Charges, which must be paid according unto Usance from London to the place aforesaid. As for example, Suppose the sum were one hundreth pounds sterling, taken up at Amsterdam for London, payable at Usance, which is one months time, at thirty three shillings and eight Flemish money for one pound sterling; for which was received at Amsterdam, in that money, one hundreth sixty and eight pounds, six shillings, and eight pence. The Bill not being paid here, and the price of Exchange being certified by the Broker and the Notaries Protest, to be at thirty four shillings six pence from London to Amsterdam: Hereupon the account is cast up at Amsterdam accordingly, which cometh to one hundreth seventy and two pounds and ten shillings. Add hereunto Brokeridge, and port of Letters here and at Amsterdam, and sometimes Factoridge, which is together one in the hundreth, which amounteth to thirty and four shillings; so he receiveth at Amsterdam one hundreth seventy four pounds and four shillings for the payment of this Protested Bill, which is five pound seventeen shillings four pence more than he had disbursed, which he payeth for the use of the money for two months, and so for other Bills etc. CHAP. VIII. Of Reciprocal and double Exchanges. Reciprocal Exchange. THe like customs are observed in all Reciprocal and Double Exchanges, made between Merchants for several places, without disbursing of any money on either side where the said Exchanges are made, but being merely depending upon the payments to be made in foreign parts. These Exchanges are either Positive between the parties, or Accidental. The Positive Exchanges have a certain price agreed upon between both parties, Positive price of Exchange. Reciprocally Exchanging one with another: As for example, A. B. of London hath a continual trade of Hamshire Kerseys for Venice by the way of Germany, and maketh his return altogether by Exchange: C.D. of London also hath on the other side a continual trade for Redding and Kentish colour Clothes for Antuerpe, where having made money of his clothes, he causeth the same to be made over by Exchange for Venice, to be employed there in Organsine silk, or other commodities to be sent for London. These two Merchants (considering each others trade, and the adventure of delivering their moneys by Exchange to others beyond the seas, wherein they must trust their Factors or Servants, or they must take up the moneys by Exchange themselves with some disadvantage) do make an agreement and contract of Exchange between them, That A. B. shall cause from time to time for and during the term of one year (all the moneys which he shall have at Venice) to be delivered to the Factor of C.D. at Venice: and the said C.D. shall cause in like manner all the moneys which he hath at Antuerpe to be delivered to the Factor of A.B. at Antuerpe, who maketh over this money unto him by Exchange, either directly for London, or for some other place, as Amsterdam or Hamborough, and so from thence for London, Observation of the course of Exchange for the most profit. according as he observeth the course of Exchange to be most beneficial for himself; or as the Factor (if he be judicious) shall observe the same for him. By this agreement or contract, the said two Merchants do agree and conclude between them a set or Positive price of Exchange, as well for Venice, as for Antuerpe, whereby the ducat of Venice shall be rated at so many pence Flemish for the money which is received at Antuerp, or the pound Flemish may be valued in sterling money after a rate, and the ducat of Venice likewise. And hereupon they do clear their accounts between them once a year accordingly, which sometimes is done with allowance of interest for the discrepance of time, if it be without Bills of Exchanges, and done only by Letters of Advice, or Acquittances of receipts to reckon by, which is more usual in these Positive Exchanges, where the price is agreed upon in certainty for such a time. The Accidental Reciprocal Exchanges on the contrary are uncertain in their price, Accidental Exchanges in price. and alter from time to time as the course of Exchange runneth: As for example, A. B. calleth unto him a Broker of Exchanges, and telleth him, that he hath occasion to take up one thousand ducats for Venice, and that he is to make over the said money for Antuerpe, and will know the price for both places: the Broker answereth, that he will effect the same, and that the price of Venice is fifty and six pence for the ducat, and for Antuerpe thirty and three shillings Flemish for the pound sterling: and presently after he cometh to A.B. the Merchant again, and telleth him, that C.D. the Merchant is contented to deliver him the thousand ducats for Venice, and to take up the same for him again for Antuerpe either at the same prices, or thereabouts. These thousand ducats at fifty six pence do amount to two hundreth thirty and three pounds six shillings and eight pence sterling, for which C. D. giveth Bills of Exchanges for Antuerpe to be paid there at Usance, which is one months time from the date of the Bills after the rate of thirty three shillings Flemish for twenty shillings, or one pound sterling: and A.B. giveth his Bills of Exchanges Reciprocally to C. D. for the thousand ducats to be paid at Venice at Usance, which is three months after the date of the said Bills: and here is no money paid on either side at London, and yet the Bills of Exchanges say the usual words (for the value received of each other) according to their agreement, and both parties send their Bills of Exchanges for the aforesaid places. Not long after, it falleth out, that the Bill of Exchange that C. D. gave for Antuerpe cometh back again by Protest for the non-acceptation, and not long after that, another Protest for the nonpayment of the said Bill. Hereupon A.B. cometh or sendeth to C. D. for to have satisfaction for this Bill of Exchange delivered him for Antuerpe, and C. D. giveth him full satisfaction of it, with the rechange and charges according to the said customs, if he be a substantial man of credit and reputation: for although the said C. D. was the first deliverer of the money unto A. B. by the thousand ducats for Venice, and might allege that he received no money of him, but a Bill of Exchange for Venice, whereof he had no advice whether it were accepted or not; yet such is the precise and commendable Custom used in Exchanges, that he may not stand upon any evasions or allegations, which might interrupt the said course without manifest discredit unto him, unless there were cause of doubt that the Bills of Exchanges of A. B. should not be accomplished at Venice; neither may A. B. (without discredit) countermand the payment of the thousand Ducats at Venice, unless there were just cause to call the credit of C. D. in question. For the manner of these Exchanges are usual in all the places of great Exchanges, as Lions, Bizanson, Madrill and Venice, where the most standing Banks are, and where they do get money ingeniously by the calculation upon their payments at the Fairs or Markets, by intermissive times either twice or thrice within the year; in regard whereof, and to avoid this observation in that strictness, they have used to say in their Bills of Exchanges, Per la Valuta Cambiata, for the value exchanged with such a one, The value of money exchanged. and not for the value received as aforesaid, because they make their payments (as it were) all at one time, which is otherwise in those places where no Banks are kept, or may be also in some of these places if the money be payable without the Bank, as we have noted before. Many Merchants trafficking only in Exchanges become good observers, and as ingenious as the Bankers themselves, according to the Adage Fabricando fabri fimus, whereby they know the variation of their Compass, and the points to direct their course by, observing the Accidental causes of great payments of moneys to be made in some places, and of employment to be made upon commodities in some other places, or the scarcity of money for some places, and the plenty for other places, or the generality of both, calling it as the Spaniards say La placa e●●a larga lo estrecha, The exchange or place is straight or plenteous; so that those Merchants (running with the stream) can make their Exchanges beneficial unto themselves, and that without Stock or Capital of their own; but merely by taking up money for one place, and delivering the same for another place, at an undervalue in the price of Exchange: sending many times the moneys in specie, which have been taken up by Exchange, when the same doth yield more than the price at which they took up the same; as in our precedent Treatise hath been declared more amply. This orderly course of payment or satisfaction to be made for Bills of Exchanges, doth admit no rescounter or stoppage, but voluntary, Rescounter in Exchange is voluntary. that is to say, If I own you one hundreth pounds by a Bill of Exchange by me accepted, and within three or four days you shall owe me the like hundreth pounds for another Bill of Exchange by you accepted; I cannot rescounter these payments to answer each other, unless you condescend thereunto, although the money were due to be paid; but every Bill of Exchange is to be answered and paid in his proper nature. For let us suppose that some countermand be made by him that caused this money to be made over unto you, before you were to pay the said Bill, which (for some causes) you are to conceal for a time, you are for all that to be paid of your hundreth pounds, or the diligences which are requisite to be done herein, are both ways to be observed accordingly. But when it is done by voluntary consent and agreement, then is it questionless; for Voluntas est mensura actionum, Will doth regulate actions, etc. The Will doth regulate the Action: and if any Factor do the same for another man's account without commission, he shall be answerable for it, as before is declared in the Title of Factors and Servants, and the Commissions given unto them. For the better explanation of Exchanges for moneys, taken up for one place, and delivered again for another place, let us observe this example. Ten thousand Ducats were taken up at Antuerp for Venice, at Usance of two months at several prices of 113 ½ pence, 114 pence, and 115 ½ pence for the Ducat, being the Medium or one with another at 115 pence, made Flemish money R. 4791 13 4 These R. 4791— 13— 4, Example of Exchanges and Rechanges of moneys. were made over for London at Usance being one month, at diverse prices, whereof the Medium was 32 shillings four pence, and made 2875 ll 0 ss 0 d These R. 2875 sterling being received, and Factoridge, Brokeridge, and port of letters deducted, remained 2860 ll, which were made over for Antuerp again at several prices, and the Medium was 34 ss 2 ½ d. 4894 ll 15 10 The ten thousand Ducats at Venice were taken up for Frankford, at 130 Florins of 65 Creutzers, for 100 Ducats, whereunto Factoridge and Brokeridge added, it amounted to 13130 Dollars or Florins of sixty five Creutzers, and with Brokeridge and Factoridge at Frankford was Florins 13260 Flo. 0 ss 0 d The 4894— 15— 10 Flemish, received in Antuerp, were made over for Madrill in Spain at diverse prices, whereof the Medium was 106 pence for a Ducat of 375 Maluedeis to be paid in Bank at four months time, with five upon the thousand, and made Ducats 11132 Duc. 12 ss 6 d These 11132 Ducats, twelve shillings six pence of a Ducat, were made over from Madrill to Lixborne in Portugal, and deducting Factoridge and Brokeridge there remained 11010 Ducats of 440 Reas for every Ducat of 375 Maluedeis, or 11 Rials, is 4844 U 620 Vlas and Ducats 12111 Duc. 11 ss 0 d These 12111 Ducats or Crusats of Lixborne made over to Antuerp, Factoridge and Brokeridge deducted, remained 11990 Ducats, at 98 pence Flemish every Ducat or Crusat, was Flemish R. 4895 18 4 The 13260 Florins of Frankford, taken up for Antuerp at 81 pence R. 4530 10 0 R. 365 8 4 These moneys paid Brokeridge and Factoridge for Venice, and delivered for London, and for Madrill 38— 2— 4, which must be deducted R. 38 2 4 So there was advanced by industry with other men's moneys R. 327 6 0 CHAP. IX. Of the Feats of Bankers performed by Exchanges. WE have in the First Part of this Book made a description of Banks and Bankers, in regard of the payments and Exchanges made in Banks, for commodities bought and sold; and having in the precedent Chapters declared the four manner of Exchanges, and the merchandizing Exchange by denomination of it, to be the canker of England's Commonwealth; let us now entreat of the Feats of Bankers. Some men of judgement have found my writing to be invective and pathetical against Bankers, wherein they are not mistaken. Banks are incompatible in Commonweals. For the use of Bank (unless they be countermined by other Banks) are not to be suffered in any well ordered Commonwealth, as time will manifest more and more. The French King Lewis the ninth, and Philip the Fair, did with great cause confiscate the Bankers goods, and for the discovery of their debts, ordered their subjects to pay only the principal money into their Treasuries. Philip de valois did the like, and indicted them as Couseners of the Commonwealth; for it was found that in a short time, Bodin de Rep. with twenty four thousand pounds sterling, they had accumulated and gotten above two millions four hundreth thousand pounds. Others (which through envy, malice, or other passions, have the eyes of their judgement blinded) have censured my writing to be Apologetical; for the erection of a Bank, under the colour of the restauration of the ancient Office of the King's Exchanger; which how absurd it is, let the wise judge by the difference between a Banker and a General Exchanger. Difference between Banker and Exchange The Banker doth draw unto him all the moneys of other men, making his small stock to be infinite; and the Exchanger must with his own stock supply men's occasions. The Banker doth make the price of Exchanges, with the correspondence of other Banks elsewhere at his pleasure and most advantage: The Exchanger hath no correspondence with other Bankers, but with his Factors and Servants is limited to deal honestly with all men. But because it is difficult to please men's humours in the reformation of abuses, which either for gain some would have to continue, or others through ignorance doth not understand: Therefore is there another means propounded, as you see by this discourse. Now coming to the Feats of Bankers, it is not since yeasterday that the same have been observed, much less by me invented: but in the year 1576, the wise and famous Council of Queen Elizabeth caused the same to be examined by discreet persons, who did make report thereof, albeit they miss of the remedy, and they did distinguish the manner of Exchange to be threefold. viz. For the Bankers private gain and benefit. TO lay their money with gain in any place of the world where any Exchange lieth. To gain and wax rich, and never meddle with any Prince's commodities. To buy any Prince's commodity, and never bring penny or pennieworth into the Realm, but do it with the subject's money. To grow rich and live without adventure at the Seas or travail. To do great feats, having credit, and yet to be nought worth. To understand whether in conjecture their money employed on Exchange, or buying of wares, will be more profit. To know certainly whether, and what the Merchant's gain upon their wares they sell and buy. To live and increase upon every Prince's subjects that continually take up money by Exchange, and whether they gain or no. ☞ To wind out every Prince's treasure out of his Realm, whose subjects bring in more wares than they carry out of the Realm. To make the Staple of money run thither, where the rich Prince will have it to be brought, and pay for it. To unfurnish the poor Prince of his provision of money, that keeps his wares upon interest money, if the enemy will seek it. To furnish their need of money that tarry the selling of their wares in any contract, until they make them come to their price. To take up money to engross any commodity, either new come or whereof they have some store, to bring the whole trade of that commodity into their own hands to sell both at their pleasure. For the advancing of one Commonwealth, above all other Commonweals. TO hide their carrying away of any Prince's money. To fetch away any Princes fine money, with his own or any other Princes base money. To take up Princes base money, and to turn into his fine money; and to pay the deliverer with his own and gain too. To get upon credit into their hands for a time all the Merchant's money that will be delivered; and pay them with their own, and gain too. ☞ To make the Realm gain of all other Realms, whose subjects live most by their own commodities, and sell yearly the overplus into the world, and both occupy that increase yearly, and also their old store of treasure upon Exchange. To undo Realms and Princes that look not to their Commonwealth, 〈◊〉 when the Merchant's wealth in such, and the great houses of one Country conspire together so to rule the exchange, that when they will be deliverers, they will receive in another place above the standard of the Mint of the Prince's money delivered: And when they will be takers, they will pay the same in another place, under the standard of the Mint of the Prince's money taken up. To get ready money to buy any thing that is offered cheap. To compass ready money to get any offered bargain out of another's hands, and so by outbidding the other, oftentimes to raise the wares. For the destruction of a Commonwealth. TO get a part and sometimes all his gains, that employeth money taken up by Exchanges in wares, and so make others travel for their gain. To keep Princes for having any Customs, Subsidies, or Taxes upon their money, as they employ it not. To value justly any wares they carry into any country, by setting them at that value, as the money that bought them was then at by Exchange in the country whither they be carried. For the better explanation of the premises, let us remember the description of a Bank heretofore declared, Payments in Bank limited. and therein observe that great power and command which is given them by the commonwealth, to incorporate moneys by the means of Exchanges, making it to become a merchandise, and to overrule the course of commodities. Some men are of opinion, that the price of Exchanges are made by an indifferent course, because the Bankers at the time of the payments of Exchanges in the principal places (as Lions in France, Madrill and other places in Spain, Florence and Genoa in Italy, Bizanson, and other places elsewhere) have a meeting, and by certain tickets in writing every man doth deliver his opinion, what the price of Exchange ought to be for all places then exchanging for the next Fair, or time of payment. And according to the same the calculation is cast up by the Medium, that is to say, Exchanges cast up by the Medium. if there be seven or more voices or tickets, the said seven are added together, and the seventh part is the Medium; if there be ten, than the same being cast up, the tenth part is the Medium, and so for greater or lesser numbers accordingly. But these men are ignorant of the Bankers observations, for they all know how the plenty of money lieth by Exchanges, and they concur in making the price for their advantage, and so jump all to one end upon the imaginary moneys before declared, which maketh the main ocean of Exchanges, wherein the Exchanges of England are swallowed up as a little river or branch of the same, taking still advantage upon our fine moneys and staple wares to glut us with their foreign commodities at dear rates. And hence proceedeth the Primum mobile of Exchanges, Primum mobile of Exchanges. which is the cause of inequality so much abused from the true Exchange of par pro pari, and nevertheless admitted to be high and low upon just occasion above the same, as money is plentiful or scarce, or the takers of it many or few. To this purpose, let us remember, that about seventy years past, between this realm and the Low-countries, many of their coins (although much differing in standards) did in the pound or mark weight, and in the very piece and price answer the coins of the kingdom, and did contain as much fine gold and silver as ours, Equal Exchange, or a true Par. and were also named and valued accordingly, whereby twenty shillings here made also twenty shillings with them, being a true Par. As for example. ss ss 23 car. 3 ½ The angel at 10 The Emperors royal at 10 22 car. fine. 22 car. The French crown 6 The Flemish crown 6 ss ss 11 oun. 2 penny weight. Ed. crown of silver 5 The Philip dolor 5 10 ounces fine. English shilling 1 Flemish six stivers 1 Ten groats silver with the Emperors florin four pence. 3 All these coins are not answered in standard for weight and fineness, but are altered and enhanced by valuation to double and more, as you may find by the valuations heretofore declared: by means whereof inequality crept in by the rising and falling of the price of Exchange, wherein our Merchants have followed the advice of others, and lost the rule of Exchange, England lost the rule of Exchange. and do observe to raise the price here, when it is risen beyond the seas, and we fall in price, as they do fall; and so the public measure of Exchange between them and us is falsified and untrue, whereby our commodities are sold, and also foreign commodities are bought. This may be illustrated by a similitude; for concerning the sale of our commodities, we do as much in effect, as if some Draper did sell his cloth at a certain price the yard, and suffered the buyer to measure out the same by the buyers own false yard: or like a Grocer that selleth out his pepper by the pound at a price agreed upon, and is contented that the buyer shall weigh it out by a weight which (unknown unto him) is false, and so loseth unawares, or getteth less than he made account of, because the fraud used in the weight and measure is unknown unto him. Even so is the cunning course of Exchange unknown unto us, and so are our moneys exported, and hindered to be imported again. (* ⁎ *) CHAP. X. Of the true reformation of Exchanges. AS of all things and in all humane actions, the beginning, progress, continuance, and termination or end is to be observed, for the better judgement: so by comparing them often to their principle & original, not only the disgression of it is made apparent, but also the longer continuance in the same estate, is thereby procured to reduce them again to their first integrity and goodness. For there was never any thing by the wit of man so well devised, or so sure established, which in continuance of time hath not been corrupted: so that the matter of Exchange being made a merchandise, requireth this consideration for the reducing thereof to his first principle and foundation, which is the intrinsique value of coins of country and countries according to weight and fineness, albeit the price thereof in Exchange doth rise and fall according to scarcity or plenty of money, proceeding of the few or many deliverers and takers thereof in the course of traffic, not by commodities only, but also by Exchanges devised upon moneys, in nature of merchandise. Herein are the three essential parts of traffic (so often named) to be considered jointly and dividedly for the good and welfare of commonweals, The general benefit to be preferred etc. and not for the benefit of particular or few persons. For albeit that the general is composed of the particular, yet it may fall out, that the particular will breed a great inconvenience to the general, whereby private persons may reap a benefit to the hurt of a multitude, or the whole commonwealth, in nature of some Monopolies heretofore declared, which may as well happen by ignorance as by premeditated practice. For to speak ingeniously, Merchants cannot enter into consideration of the quantity of foreign commodities imported at dear rates, and the native commodities at lesser rates exported, respectively of former times; by the disportation whereof, cometh an evident overbalancing of commodities. Merchants do not regard whether the moneys of a kingdom are underualued in Exchange by the enhancing of foreign coin in other countries, whereby our moneys are exported, and foreign coin or bullion cannot be imported but at an exceeding loss. Lastly Merchants do not know the weight and fineness of the moneys of each country, and the proportions observed between gold and silver, nor the several differences of standards of moneys of gold and silver, a matter so necessary for them to know, to drive a profitable trade, as by this book they may now understand for the common good. Princes and Governors therefore are to direct them according to the laws, wherein the Law-Merchant must be the true guide and director. This direction must as well be established upon the coin of other nations, as upon the moneys of the kingdom, because the payments of Bills of Exchanges beyond the seas are made by several coins upon the valuation made thereof, at the pleasure of Princes, whereby sometimes the moneys of the realm are not proportionably valued according to the moneys of other countries, which are thereby diverted also to be imported unto us: For example, let us take the valuation aforesaid made in the united Provinces during the government of the Earl of Leicester, at which time the Royal of eight was valued at forty and two stivers, and the Rickx Doller of the Empire and also their own Doller at forty and five stivers, and the English shilling (at twelve pence here) being there valued at ten stivers made twenty shillings sterling, to be by Exchange thirty three shillings and four pence, as a Par pro pari, or value for value. The like for Hamborough at twenty four shillings and nine pence, as hath been noted. Now five royals of eight which is at forty two stivers thirty five shillings, are valued at forty two shillings and six pence, that is to say, at fifty one stivers, and yet the Exchange is taken still at the said rate, according to which calculation the said Royal of eight is by us received at five shillings and two pence, which is but four shillings 2 ½ pence, or thereabouts. The difference is fifteen upon the hundreth in less than two months time: add hereunto the ten in the hundreth to be had by the said royals of eight, that the same are better in weight and fineness than our six pence sterling, which is taken to answer the said Royal by a common calculation, by reason whereof there will be given so much in his majesty's mint, or thereabouts, that is to say, four shillings and five pence, or at the least four shillings and four pence ½, after the rate of five shillings sterling, for an ounce of that standard; so together is twenty five upon the hundreth benefit, A treatise of Free trade 1622. which caused a Merchant adventurer to set down in print an interrogation in this manner: Who will procure licence in Spain to bring Reals into England to sell them here at ten in the hundreth gain, which is less than the Exchange from thence will yield, when he may have for the same 25 in the 100 in Holland? A matter whereby Merchants are easily induced to divert the said royals from the realm to those and other countries, and by the common understanding to remedy the same, it is thought there is no means to meet with foreign nations in the inhancing of moneys, but we must do the like, albeit experience hath showed long since that this is not effectual nor any true remedy. Now if we will consider things according to the rule aforesaid, it will plainly appear that the said fifteen upon the hundred gain, more than in England, are but imaginary, if the Exchange for moneys were reform: for let five of these royals of eight be bought in England for twenty two shillings, and be transported into Holland, and there buy commodities with the same (which is according as the price of them is enhanced, for as the money riseth in price, so doth the price of commodities) it may fall out the said Merchants should become losers by the commodities, so that the same cannot be termed Causa movens: But the Spanish Merchants, which cause their royals to be sent into Holland or Zealand, from Spain or from the Downs, rely wholly upon the Low-Exchange, whereby they are enabled to deliver there their money by Exchange at an undervalue, at thirty three shillings four pence Flemish and under, for our twenty shillings sterling, whereby the Kingdom maketh good unto them the said fifteen upon the hundreth, consisting between the price of forty two stivers, and fifty one stivers, which is almost eighteen pro hundreth. If the Royal went but for fifty stivers according to the valuation, so that if the Exchange were made accordingly, which would be above thirty seven shillings six pence, this gain would not be at all, and moneys would be imported unto us, and not exported. For the rule is infallible, A Maxim in Exchanges. That when the Exchange answereth the true value of moneys, according to their intrinsicke weight and fineness, and their extrinsicke valuation; they are never exported, because the said gain is answered by Exchange, which is the cause of transportation. To make this evident in the Rickx Doller, which is the main and most usual coin in Germany, Eastland, the United and Reconciled Low-countrieses before their late Proclamations, and currant in many other countries': observe we, that the said Doller was valued at two marks Lubish, A shilling Lubish, and a stiver Flemish was all one 1575. every mark being sixteen shillings Lubish, or sixteen stivers. For in the year 1575. the said Rickx Doller was still coined in the Empire for thirty two shillings or stivers, and so currant by valuation in the Low-countrieses, whereby they were all one in denomination and effect: But the wars in the Low-countrieses hath been the cause of the inhancing of this Doller, which was brought to thirty five stivers, and in the year 1586 to forty five stivers, or to fifty two stivers now by intermissive valuations and times. Howbeit at Hamborough, Stoade, and other places in Germany, the said Doller did remain still at thirty two shillings Lubish, or two marks: and as the said Doller did enhance in price, so did they in the Low-countrieses coin new stivers accordingly; sometimes lighter in weight, A great Fallacy. and at other times embased by Copper or Alloy, and yet in account the stiver did and doth remain the ground of all their moneys: but the said Doller holdeth his standard agreeable to the first Doller, called the Burgundian Doller with Saint Andrew's Cross, coined in the year 1567., which is in fineness ten ounces twelve penny weight of fine Silver: and four and one half of these Dollars were made equivolent to our twenty shillings sterling, as a public measure between us and the Low-countrieses, Germany, and other places where this Doller went currant, as you may observe in the precedent Chapters. These Dollars have since been imitated and made by the States of the United Provinces in their several Mints, altering only the Arms of the several Provinces; as also by the Archduke Albertus in the reconciled Low Provinces, and the price of them at Hamborough, Stoad and other places was but advanced to one stiver or shilling Lubish more, that is to say, at thirty three shillings Lubish went, the same went in the Low-countrieses for forty five stivers, which made the diversity of the said Par of Exchanges of thirty three shillings four pence for the Low-countrieses, and twenty four shillings nine pence for Hamborough, In the Netherlands. being all one in substance. This Doller is since that time (as I said) enhanced to fifty two stivers in the Low-countrieses, which maketh the price of Exchange above thirty eight shillings, or rather thirty nine shillings, and shall the Kingdom suffer this and not alter our price of Exchange accordingly, but be contented to take thirty four or thirty five shillings, and after that rate undersell all the commodities of the Realm▪ In Germany. This Doller is likewise since that time more enhanced in Germany, from time to time. And leaving the excessive valuation in remote places, let us note the valuation of Hamborough, where it hath been at fifty four stivers the Doller, which maketh the Exchange above forty shillings of their money for our twenty shillings. And although we have raised our price of Exchange, from twenty shillings nine pence, to thirty five shillings and thereabouts, shall we rest here and go no further? Have we reason to do it in part, and not in the whole, according to justice, Equity, and true Policy: and shall we be like a man that by halting in jest became lame in earnest? Absic ignorantia. The moneys in Christendom, which have their ebbing and flowing do show their operation upon commodities, The course of money and Exchange, are contraties in operation. maketh by plenty the price thereof dear, or by scarcity better cheap, as hath been noted: but Exchange hath a contrary means of working, for plenty of money maketh a low Exchange, and scarcity of money maketh a high Exchange and the price to rise, which is of great consideration; because it overruleth money and commodities, which never entered in the politic studies of Aristotle, Seneca, or Cicero, who were but in the infancy of Trade. And Civilians can tell us that Commercium, is quasi Commutatio Mercium, but went no further in this just and princely study of State affairs, to augment, by all lawful means of Ius gentium, the wealth of their Kingdoms and Territories; as also to prevent the diminution thereof, by the carrying away of their moneys and treasure. True it is that the Statute Laws of England have had a care hereof, but the remedies have been hitherto defective, by mistaking the Efficient cause thereof: which remedies may be distinguished three manner of ways. 1 First the Statute of employment for Merchant strangers, Commodity's made for three especial causes: 1 For the advancing of the price and sale of our native commodities: 2 To prevent the overbalancing of foreign commodities: 3 To preserve the monies within the Realm. 14. R. 2. 2 The lodging of Merchant's strangers with free hosts, who had an inspection in their negotiations for commodities and moneys. 3 The keeping of Staples for Wools, Woolfels, and other commodities beyond the Seas, with their Correctors and Brokers to register Merchant strangers dealings. 4 To cause Denizens to pay strangers Customs inwards and outwards. 5 The sundry treaties and conferences with the Commissioners of other Princes, about Merchandise, Moneys, and Exchanges. 6 The severe Proclamations for the observation of the Statutes made for and concerning the same, and the Articles of Intercourse. 7 The prohibition to export commodities, but at great Ports. 8 The prohibition for strangers to sell wares by retail. 9 The prohibition for English Merchants to ship goods in strange Bottoms. 10 The transportation of money made Felony by Act of Parliament. Moneys▪ 11 The attendance of Searchers, Waiters, and other Officers. 12 The strict information in the Exchequer and other Courts. 13 The swearing of the Masters of Ships, for exportation of monies. 14 The reformation of the overheavinesse of our pound weight Troy in the Tower. 15 The overrichnesse of our sterling standard of moneys. 16 The alteration of the proportion between Gold and Silver. 17 The making of more prices out of the pound Troy by the Sheyre. 18 The enhancing of Silver and Gold Coins in price. 19 The embasing of moneys by Alloy or Copper. 20 The use of many standards of money, and reduced to two again. 21 The increasing of coinage money to hinder the exportation. 22 The prohibition to cull out heavy pieces to melt or transport. 23 The banishing of light Spanish money, and Gold to be melted. 24 The giving more for Bullion in the Mint. 25 The prohibition for Goldsmiths to buy Gold or Bullion. 26 The making of the principal foreign Coin currant in England. 27 The binding of Merchants to bring in Bullion. 28 The prohibition to pay Gold unto Merchant strangers. 29 The prohibition to take gains upon Coins. 30 The Bullion in the Mint to be delivered by weight, to restore by tale. 31 The enhancing of Gold and undervaluing of Silver. 32 The punishment of transporters in the Star-chamber by Fines. 33 Exchange. The prohibition by Act of Parliament, to make Exchanges for moneys for foreign parts without the King's especial licence. 34 Money delivered to Sir Thomas Gresham Knight, out of the Exchequer, to rule the course of Exchanges by Bills. 35 The Office of the King's Royal Exchanger, never put in practice since the merchandising Exchange began, erected by King Edward the first in the eleventh year of his reign, by an Act made at Acton Burnell, as aforesaid. Hear we are to observe the Statute of employment to be defective, when Merchants (both English and strangers) have an ability given them by Exchange to take up money here, and to deliver a Bill of Exchange for it payable beyond the Seas, and can send over the money in specie and be a great gainer thereby: insomuch that if I receive here one hundreth pieces of twenty shillings, I can send ninety pieces to pay my Bill of Exchange, and put ten pieces in my pocket for an overplus and gain. The like may be done by making over money from beyond the seas to be paid here by Exchange, which being received, I can transport with 15 upon the hundreth gains in two months and less, and advance a hundreth upon the hundreth in one year, which exceedeth all the benefit to be made by commodities, wherewith I need not to intermeddle, neither can the said statute be any help herein to remedy the same. This gain ariseth by the underualuation of our moneys, in regard of the inhancing and overualuation of foreign coins, so that the cause is extrinsique, and comprised under the said Exchange of money, and not intrinsique in the weight and fineness of moneys, which are considered in the course of true Exchange between us and foreign nations: and thereupon it followeth, that neither difference of weight, fineness of standard, proportion between gold and silver, or their proper valuation of moneys can be any true cause of the exportation of our moneys, so long as a due course is held in the Exchange which is grounded thereupon. Hence ariseth the facility of the remedy by the reformation of the Exchange, in causing our moneys to be truly answered by Exchange, according to the very value, or above the same, which cutteth off the said gain had by the exportation of moneys, and causeth also (in effect) that the foreign coins beyond the seas are not taken in payment above their values, although they be received at a higher rate, because the commodities of the realm are sold according to the price of Exchange, which countervaileth the same according to their enhancing of coins, or embasing of the same by allay or copper. All men of common understanding, when they do hear of the raising of moneys beyond the seas, are ready to say, We must do the like. For they conceive the saying of Cato, Tu quoque fac simile, sic Ars deluditur Arte, to be a proper application hereunto. But they do not enter into consideration what alterations it would bring to the State, and that the matter might run ad infinitum, as shall be declared. But let us suppose, that this will be a sufficient remedy to enhance or moneys, as they do theirs, to embase our coins as they do theirs, and to imitate overualuation of gold and silver as they do, which requireth a continual labour, charges, and innovation. Is it not an excellent thing, that all this can be done by the course of Exchange with great facility? and that without enhancing of our moneys at home, or meddling with the weight and fineness of the sterling standard; this is to be done only by his majesty's proclamation, according to the statut of Exchanges, Prohibiting that after three months next ensuing the same, no man shall make any Exchanges by Bills or otherwise, for moneys to be paid in foreign parts, or to be rechanged towards this realm, under the true Par, or value for value of our moneys, and the moneys of other countries in weight and fineness, but at the said rate, or above the same, as Merchants can agree by the means of Brokers, or amongst themselves, The way to restore England's wealth. but never under the said rate, which shall be declared in a pair of tables publicly to be seen upon the royal Exchange in London, according to the said proclamation: and the said tables shall be altered in price, as occasions shall be ministered beyond the seas, in the several respective places of Exchanges, either by their enhancing of moneys by valuation, or by embasing of the same by allay, as hath been noted; which by a vigilant eye may be observed, and will be a cause to make other nations more constant in the course of their moneys: and this will be executed more of course than by authority, because gain doth bear the sway and command with most men. For the Merchant Stranger being here the deliverer of money generally, will easily be induced to make the most of his own, receiving by Exchange more for our moneys beyond the seas: and the English Merchant (being the taker of the said moneys) will not be so in●urious to the State, as to give less beyond the seas than the value of our money in Exchange, contrary to the said proclamation: and if he would, the deliverer will not let him have it. Besides that the takers occasions are enforced by necessity, and he can be no loser; for by direction, he will sell his commodities beyond the seas accordingly, because the price of Exchange doth still govern the sale and buying of commodities, as aforesaid. English Merchants being the deliverers of the moneys beyond the seas, and the price of Exchange altering there accordingly, will have the like consideration, and the Merchant Stranger will provoke him thereunto: and if there be no takers, the English Merchant may bring over the money in specie, wherein he shall become againer. The course is agreeable to justice and the law of nations, or ius gentium, and will not hinder the Exchange to rise and fall, as formerly, but keep all in due order, with these considerations, cautions, and preventions as shall be set down to prevent all inconueniencies proceeding by the enhancing of moneys, which fall generally upon all men in the endearing of things, Inconueniencies of the enhancing of coins. & particularly upon landlords and creditors in their rents and contracts, and especially upon the king majesty's lands. The statute of Employment must also be observed, to make the remedy more complete, with a Register to record the moneys which foreign mariners do receive for freight, coming from Norway and other places, making above one hundreth voyages yearly; as also many other ships bringing corn into the Northern and Western parts of the real me, and exporting moneys for it. The policy of the Turk and Russian. The Turk, Persian, and Russian have herein surpassed us in true policy, by keeping the price of their Exchanges high, much above the valuation of their moneys; so that they have no trade by Exchange nor moneys, but only for commodities, whereby they prevent the overbalancing of foreign commodities with theirs, as also the exportation of their moneys; albeit the use of our commodities is in those countries very great. Objections to the remedy. The objections made by some against this sole remedy are easily to be answered, for they are grounded upon suppositions against assured experience. 1 Some make doubt that the price of Exchange being risen, there will be no takers of money, and then the deliverer is more thrust upon the exportation of moneys. 2 Others say, that those Merchants which have sold their cloth beyond the seas shall receive a loss in the making over of their moneys from thence, by delivering more there in Exchange than now they do. 3 Others say, that they shall not be able to vent their clothes according to the high Exchange, especially now that cloth is out of request; and would have the matter of reformation deferred until another time, in their opinions more commodious. Answers. The first objection is answered before, That the taker is ruled by the deliverer, who will not give his money in Exchange under the true value, according to the proclamation to be made, and the deliverer being the Merchant Stranger here, will sooner be thrust upon the statute of Employment, for by the exportation of money, he shall have no gain; whereas some of the discreeter sort would not have the said statute too strictly pressed upon the stranger, because the trade should not be driven into their hands, Mediocria firma. To the second, the Proclamation (limiting a time for execution) giveth Merchant's ability to recover their moneys, or to sell their Bills of debts for money, or to buy commodities for them, as the manner is. To the third, experience maketh a full answer to both, that there did not want takers, when the late enhancing at Hamborough caused the Exchange to rise from under twenty and eight shillings to above thirty and five shillings, which is more than the present alteration will be: and Wool was at thirty and three shillings the Tod, which is now fallen under twenty shillings; so that the vent of our Cloth was not hindered, when it was sold dearer by one full third part; but there was above eighty thousand Clothes sold yearly, where there is now sold but forty thousand Clothes. The time is also to be thought more convenient to advance a commodity, being underualued, than to do it when the price is high: for this pleurisy of the commonwealth is dangerous, and admitteth no time of curing, like the fire in a city, which permitteth not any inquiries to examine how the same began, but requireth every man's help to quench the same. And whereas it is alleged in the defence of the inhancing of coin, Treatise of Free trad, E.M. That which is equal to all (when he that buys dear shall sell dear) cannot be said to be injurious unto any. This opinion is without consideration of the alteration of Weights and Measures between us and other nations, that is Exchange for moneys, and what the same may produce to the loss of the commonwealth, albeit that between man and man it may prove alike in some respects. To make this evident, Suppose two Merchants, the one dwelling in London, and the other dwelling at Amsterdam, do contract together, that the Londoner sending Clothes to be sold at Amsterdam, the Merchant of Amsterdam sendeth him Velvets and Silks to be sold at London: and (in the account to be kept between them) they agree to reckon the moneys in Exchange but at thirty shillings Flemish, for twenty shillings sterling, and so make return each to other from time to time, as moneys shall be received both here and beyond the seas. Whereupon put the case, that there is received at Amsterdam one thousand and five hundreth pounds Flemish for Cloth, and at London there is received one thousand pounds sterling for Velvets and Silks, which according to the said computation is all one in effect between them, and might by way of rescounter answer each other in account. But the Merchant of Amsterdam knowing that (by reason of the enhancing of the moneys there) he can make a great gain to have the said one thousand pounds to be sent unto him in specie, he desireth the Londoner to send unto him this one thousand pounds sterling in silver or gold coins, royals of eight, or Rickx dollars, whereby he shall profit fifteen upon the hundred by the means aforesaid, which amounteth to one hundreth and fifty pound gains. Now the Londoner having his one thousand and five hundreth pounds Flemish, or one thousand pounds sterling at Amsterdam, cannot do the like, because the money by the said enhancing is received there above the value, so that his money must be delivered there by Exchange at thirty three shillings four pence, or under, whereby he receiveth here the said 1500 ll Flemish with no gain at all. Thus the account is made even between them: but by these means the kingdom is deprived of the 1000 ll of the Merchant's money sent to Amsterdam, which doth not only procure want of our moneys, but causeth also the native commodities to be undersold, and the foreign commodities to be advanced in price beyond the seas by plenty of money there, and hindereth the importation of bullion. To prevent this, the question is now, Whether it be better and more expedient to raise the price of Exchange, or the valuation of our moneys? Surely all men of judgement will say, That the raising of Exchange breedeth not that alteration which the enhancing of moneys doth, to make every thing dear, and to cause landlords and creditors to lose in their rents and contracts. And Merchants of experience do know, that we cannot do as they do: for the enhancing of our moneys here will be countermined by other nations, who still will undervalue them in Exchange between us, unless it be prevented by our own true valuation to be made known as aforesaid. The Author of this Treatise of Free trade doth say, That it is not the rate of Exchanges, Page 104. but the value of Moneys, here low, elsewhere high which cause their exportation, nor do the Exchanges, but the plenty and scarcity of moneys cause their values, which is merely Histeron proteron, whereunto I have answered heretofore, viz. Three ways to dissolve an argument. There are three ways to dissolve an argument, Denial, Retorting, and Distinction. Denial, is too hostile, savouring more of obstinacy than of Art: Retortion, is more witty than profitable: but Distinction is like mature remedies, compared to Purges which cleanse and feed; but the said Author did take the course of Denial, and proveth nothing touching the matter in question. Exchange compared to to the Affaies' o● money. If moneys be here low and elsewhere high, how is this known but by the valuation of Exchange? considering the diversities of moneys of several standards, wherein the Exchange is like the Assay, whereby the finesse of gold and silver is known, grounded upon the quantity which the Exchange requireth, according to the weight of fine silver & gold contained in the moneys of each country, which is the intrinsic value, & not according to extrinsicke valuation, which is altered by denomination, for the name of a thing doth not alter the value really, but the substance doth it, if it be altered; much less doth plenty or scarcity of money cause their values, it being contrary to the nature and property of money; the yard doth measure the cloth, but the cloth doth not measure the yard. To illustrate the premises by example I have heretofore showed the consideration incident. Suppose that some Merchant's strangers do come over into the Realm to buy a pack of ten clothes, valued at 80 ll sterling, which they are to pay in gold and silver, and they do not know the weight and fineness of their foreign coin which they have brought over; hereupon to content both parties, the moneys on either side must be tried by the subtle assay, according to their fineness computated upon the pound weight of twelve ounces Troy, and then (by weight) they answer each other accordingly. And so this negotiation is (in effect) but a permutation of moneys for commodities before Exchange was invented. Hitherto we have handled of the reformation of Exchanges, for places where the Basis of Exchange or foundation is made upon our twenty shillings sterling, that is to say, When Merchants beyond the Seas (delivering moneys there for England) will cause the Brokers of Exchanges to know how much Flemish or Hamborough money Merchants will give there, to have twenty shillings sterling paid in England, even as we do here to know how much in Flemish money or other coins a Merchant will give for the said twenty shillings here, Exchanges which are made upon foreign coin. by an agreement to be paid beyond the Seas by Bill of Exchange. But now we are to entreat of the reformation of the Exchanges which are made upon foreign coins, or rather imaginary moneys of other countries': as for France upon the French Crown of sixty sou; for the East countries upon the Florin Polish; for Germany upon the Rickx Doller of seventy two Creutzers; for Venice upon their Ducat, and so for other places, as in the former Chapters we have noted. Herein let us observe that the course of it is directly opposite; for whereas in the one we do procure to have much money, or at the value answered by Exchange: so in the other we may do the like, and rather procure less to be given in Exchange, because that the foundation of those Exchanges is made upon foreign coin. Nevertheless consider we, that when four Testons or three Franks in specie were calculated for the said Crown of sixty sou in Exchange; then every such Teston was fifteen sou by valuation, and every such Frank was twenty sou. But since that time the said pieces of Testons are made currant for 16 ½ sou, and the Franks at twenty two sou, being the same in weight and fineness, without any alteration in the standard called, Le Pied de la Monoye, but only enhanced in valuation, according to which, payments are made in silver coins. Also for the gold coins, as French Crowns and Pistolets, which are enhanced at times until 72 sou ' from 60 sou, whereupon the said Crown was valued at six shillings sterling; Is there any man of judgement that will give (if he can choose) six shillings, or seventy two pence, and 72 ½ pence, for the said French Crown in Exchange, when the Crown in specie is paid him in France for seventy five sou? The like consideration are we to have of the Dollars of Germany, of the Polish Guilders or Florins, and all other coins enhanced above the Par of Exchanges heretofore calculated amongst Merchants, and especially with the admittance of Princes. The operation hereof in the course of traffic, is of very great moment, more than in times past, when the difference was not so sensible, which made me to compare the same unto the serpent Aspis, which stingeth men in such sort that they fall into a pleasant sleep until they die; which is meant by particular persons, whose estate is consumed by running upon Exchanges. Or like unto the cruelty of the Planet Saturn, which maketh his spherical course in thirty years, with great operation, although we do not so sensibly perceive his motion, which is meant in the revolution of State affairs in progress and continuance of time. CHAP. XI. Of Attachments and Arrest. THE Common Law of England doth not use the course of Attachments, as is used by the Custom of the City of London, which was borrowed from Merchant's actions observed in foreign Countries, and was thereupon by Custom here established; it being a ready way whereby men may secure themselves of present means, if they doubt of their debtor. For if the creditor do know any debts or goods belonging unto his debtor, he may instantly upon a speciality to be exhibited unto the Magistrate, have authority to attach the said debts and goods in the hands of any person where he findeth the same, only Privileged places excepted, or Ecclesiastical persons in most places. To this Attachment, if the party do appear and put in bail, either by himself or his Attorney; then the Attachment is ipso facto, void, and declaration being put in, dependeth in Court upon the said bail, and if no declaration be put in the next Court day, or within three days, than the said bail is likewise discharged by the said Custom; albeit this is not so duly observed, as the Customary Law of Merchants requireth. But if the party do not appear, and the Attachment do proceed three Court days, or three defaults to be entered, then for the fourth default judgement or sentence is given, that he who did make the Attachment shall recover the said debt and goods, and take the same into his own possession, upon good sureties to be put into the Court, to answer the value thereof within one year and a day, in which time the proprietary may disreason the said recovery, by disproving the other parties surmises or allegations, proving that the speciality was paid whereupon the Attachment was grounded. For the Attachments beyond the Seas cannot be made upon any pretended Action, but must be done upon a Bill of debt, and many times the Magistrates will sequester the goods or debts into their own hands, to avoid incertainties of honest dealings. Besides, Merchants will be advised before they make Attachments, because both the Civil Law, and Customs of Merchants do impose great damages upon the party, if he have made his Attachment without just cause, to the overthrow of the other party's credit. And moreover, if it be upon debts appearing by specialties or Bills obligatory, it may fall out that the said debts are transferred or set over unto other Merchants, according to the Custom heretofore mentioned, whereby the property is altered. I remember a case of mine own, that happened above twenty years since, which concurreth with the matter in hand: A Merchant being indebted unto me, by a Bill obligatory the sum of 800 ll, payable at six months, was persuaded by a friend of his (with whom I had some differences and controversies of accounts) to suffer an Attachment to be made in his hands of the said moneys, by the Custom of London, upon promise made unto him, That he would give him long days of payment for the said moneys: whereupon my Debtor appeareth to the said Attachment, and did acknowledge the said debt of 800 ll, relying upon the long days of payment, and he that made the Attachment did proceed in the Law, and had judgement thereupon, making no doubt to obtain execution accordingly. Being advised by learned council in London, Attachments to be removed after judgements. we suffered him so fare to proceed, and then we did speak in Arrest of execution, and brought a Writ of Certiorare out of the King's Bench, under the hand of the Lord Chief justice, putting in special bail in London to satisfy the judgement. The record was removed to the said Court of King's Bench, and there we did put in other bail, and upon that brought a Supersedias into London, and discharged our especial bail, and by the Law the said Attachment and all proceed were made void; and this Merchant was taken, Pro confesso, and ordered to bring the money instantly into the Court, whereas he had yet six months for the payment; the interest whereof was 40 ll, whereby the Proverb took place, Fallere fallentem non est fraus. Here the Law did prevail against Custom: but in another like matter of attachment, Custom hath prevailed against the Law. One being indebted unto another the sum of one hundreth pounds payable at a certain time, it came to pass that the Creditor went over beyond the Seas before the money was due: the cautelous Debtor, upon untrue surmise to defraud the Creditor, made attachment of this money in his own hands by the Custom of London, and put in sureties to be answerable for it for one year and a day, according to the manner and order of the Court, in which time the said Creditor was to disreason the said pretended debt; but the Creditor (being beyond the Seas and ignorant of these proceed) came over after the expiration of the year and a day, and the Debtor had judgement upon the said attachment, and execution awarded unto him in his own hands. The Creditor being now come over, demanded his money, the other denied to owe him any; in brief the Bill was put in suit at the Common Law, the Debtor did plead the said judgement and recovery in London, and by that practice and fraudulent means defeated his Creditor: and being done by Law, it is taken to be no cozenage to be punished by the Star-chamber or other Courts, only the party is A.K. Touching Citizens or Merchants arrests beyond the Seas, there is a Custom that no Officer may arrest after Sun set; No arrest to be alter Sun set. such therefore as go abroad but at those times, are said to Fly with the Owl, by a common Proverb: and it is hoped by the said Custom that the Debtor may (by having access at some time unto his Creditor) compound with him, and preserve the good opinion and credit wherein he liveth, and thereby not only have means to recover himself, but also be an occasion to gather in his own debts sooner. In some places also they may not arrest upon the Sabbath days and Holidays, to the end they should not be deprived of Divine Service towards God, and comfort of their souls. The Officers or Sergeants may not arrest any man upon the Burse or Royal Exchange, although the party to be arrested should yield thereunto, and renounce the said privilege. It is not many years since that a Merchant of Amsterdam (being upon the Exchange at Antuerp) had notice given him that another Merchant had given order, that upon his going from the Exchange he should be arrested, and that the Officer did attend him, being near at hand; whereupon he perceiving the said Officer, called him unto him, and said, He would obey the arrest; which for the first time is but an adiourning or citation: the Officer did require a pledge of a piece of coin in token thereof (as the manner is) which he gave him. Afterwards this Merchant of Amsterdam (being otherwise advised by his friends) did disclaim from that arrest, because it was done upon the Exchange, and claimed the said privilege: insomuch that the Magistrates and the learned Advocates on both sides, did thereupon assemble in the Town-house, as it were the Guild-hall, and there the matter was debated and discussed at large, according to the laws. And it was at last concluded and determined, that the said Arrest was void in Law: for the renunciation of a Privilege by any particular, The renunciation of a privilege cannot abolish the privilege. or many persons, cannot derogate or abrogate any Custom or Privilege, not only in the general, but also in the particular; so that within twenty and four hours after he might have been arrested again, but he was non inventus, and upon this Arrest he was to find caution to answer the law. The like is to be understood for all privileged places, as Churches, Chapels, Churchyards, and other places of jurisdictions: and diverse Cities and Towns do not permit any man to be arrested upon foreign pleas for debts or contracts made in other towns, places, or countries, which are as places of refuge for some Merchants, as the town of Middleborough in Zealand, Towns of refuge. and the town of Dort in Holland, and other cities and towns in other countries, and most cities and towns where a Nation, or a Society of Merchants do agree to make their residence, as the Company of Merchant's Adventurers and others, commonly the said cities and towns do exempt them from all litigious suits which happen between themselves, to be determined by their Governor or Court master; so as only controversies happening between them and strangers or inhabitants are subject to the ordinary course of the law, for the determination of Merchant's differences. They will also free them from all debts owing by Kings, Princes, and States, so that the subjects goods shall not be liable thereunto, to the end that traffic be not interrupted. The Officers or Sergeants which make these arrests are known by their habit, Officers known by their habits. or by a rod to be seen in their hands, and may not by stealth come upon a man, whereby many insolences are prevented, and Sergeants are not subject to be killed, as many times they are with us. And if they have not their habits or colours, no man is to assist them if they be abused, and the rescuing of a man then is no offence: and howsoever, if a man Arrested, or to be Arrested, do run away, every man giveth him way, as desirous to help him, to keep him out of troubles, accounting the Arresting of a man to be a part of the hangman's office: and nevertheless, their hangmen are seen to be always in rich apparel, and are reputed as necessary members in a commonwealth, whereas in England it is very contemptible and base. Returning to speak again of Attachments, it is a matter of great consideration with us, not to admit any to be done either in London, or any other city or town corporate, Attachments to be granted upon specialties. according to the custom of London, unless it be upon plain specialties, and also with putting in good sureties for the costs: for it is a very dangerous thing for Merchants dwelling beyond the seas, as also Merchants which dwell in remote places of the kingdom, having their Factors at London, if they upon any surmise or pretence of debt shall make secretly any Attachment in their own hands of their master's goods, either when they know their master to be dead, or travelling in some foreign countries upon a long voyage, as occasion may fall out, and so by practice deceive them of their estates, by pleading afterwards the said Attachment or judgement had thereupon in bar, as aforesaid. CHAP. XII. Of Sequestrations and Executions. THe magistrates considering, that abuses may be committed many ways by attachments, do commonly use Sequestration of goods by delivering them into the hands of a third person, or taking of them into their own custody or power, for by these means also are many attachments prevented, which men would do, if the disposing of the goods or debts did come into their own power, wherein they have a care not to feed the humour of contentious persons, which is merely contrary to the course of trade, which is the cause that in the execution of their sentences (wherein the life of the law doth consist) they do proceed gradatim, Execution is the Life of the Law. and if any such Sequestration is made unjustly, or without cause, the Civil Law, as also the office of Prior and Consuls (hereafter declared) will give good costs and damages. Considerable Executions. In the proceeding of the said Magistrates, there are many persuasive means used by them, in the behalf of the debtor with the creditor, to bring him to a composition, if not, than some Officers are sent to the party's house to keep him, as it were, a prisoner, to whom he must give meat, drink, lodging, and a daily fee, according to the judge's appointment, and as the matter may be of moment, to the end that by this pecuniary punishment, he may cause him to pay or satisfy the creditor, which is aggravated by sending two Officers at the first, than two more, and so six or eight of them to eat him out of house and home; for these men will gnaw him to the very bones, and are therefore called Clyvers or Devourers. But if the debtor will not endure this, and do go wilfully to prison, than the creditor must find the debtor maintenance, at the discretion of the judge, who may, if he will, presently put him to bread and water, which is seldom or never done; but when it is known that the party hath means, and will not satisfy his creditor, who (after the imprisonment of the person) cannot come upon the goods again, according to the common laws of the realm, than he is to be kept in Arcta custodia, with bread and water for a time, at the discretion of the judge. But if the debtor be so poor, and notwithstanding hath such a cruel adversary that will make dice of his bones, that is say, to have his debtor die in prison, and to hang up a bale of dice for him in the Crown Office, as is done by the Officer in place, or the Gaoler; then hath the Law beyond the seas provided some relief for this poor man: for the custom is (in Germany, France, Italy, Spain, and the Low Countries) that no man is imprisoned for debt above a year and a day, in which time the creditors have power to take, seize, and sell all the estate of the debtor; which being done, or before, the woman in most places may claim her dower for her relief & children, and the rest is divided amongst the creditors as far as it will go, and so the debtor is freed from those debts for ever: for by the Civil Law, Qui vult cedere bonis, liberatus est a debito, if the debtor do relinquish his estate to the creditor, he is free from the debts, and all goods falling to him afterwards are his own. But this man is ever after disabled to come to any preferment, and such a creditor as is the cause of it, will be hated and accounted worse than a jew or Pagan. For the manner of Cedere bonis, or to make session of goods, is very heinous, The manner of Cedere bonis. and of wonderful disgrace; so that most men will rather die in misery, than to come unto it, because it happeneth not once in twenty years: yet is it fare inferior to the punishment of the pillory, or the striking over the leg used in Russia at the creditor's instance, whereby the debtor is set at liberty, and the debt paid. The party cometh before the town-house, and standeth upon a stone in the view of all the people, and unloosing his girdle, he desireth them, and all the world to take notice, that he hath nothing left him to pay his creditors, and so renounceth all, what may be found to be his, or what any manner of ways he might pretend: and in token thereof, he may not wear his girdle any more, nor be employed in any business as a living man; yet afterwards by some composition to be made with the creditors, he may be restored by a declaration to be made by some Officer upon the said stone, and then he is permitted to wear his girdle again. In the said countries, no gentleman or man of quality, may be imprisoned at all for debts, his estate only is liable thereunto, and yet with reservation of such necessary things, as Honesty, Honour, Humanity, and Christianity doth challenge: namely, the soldier's Person, his Arms, his Apparel, Bed, and Chamber conveniently and necessarily furnished, which may not be taken for debt: and the like reservation is made to every other man of quality, so that imprisonment of men bodies for debt (according to the common practice of England) is a greater burden and bondage, than is to be found in any other christian or heathen country. And for as much as the mischief and incoveniences, arising to the King and Commonwealth, by the imprisoning of men's bodies for debt, have been propounded heretofore in Parliament, by a printed remonstrance which (like unto a Pamphlet) may be lost, whereby good matters are many times put in oblivion, I have thought convenient to make an abstract thereof, in the manner, as the said reasons are laid down, to be inserted in this book, in hope of some relief unto decayed Merchants, whose estates may remain liable to answer their creditors, without imprisoning of their bodies, against the Law of God, the Law of man, the Rule of justice, the Law of conscience and christian charity and against the Practice of other countries, as aforesaid, and finally against the creditors own profit. The Law of God, willeth and commandeth every man to follow a vocation to do the honour, Against the law of God. duties, and services, owing to his Prince and country, and Parents, and to maintain his wife, children and family, and to instruct them, in the fear of God; so that whatsoever, directly or indirectly forbiddeth the said christian duties, in the performing thereof (by an imprisonment) is against the law of God, whereupon all humane laws ought to be grounded. No law of God, willeth or commandeth imprisonments of men's bodies for debt, nor is it warranted by any example in the word of God, and the efficient means bringing men into prison as usury is, appeareth plainly to be forbidden by the word of God, as hath been noted out of the old law, neither hath the law of the Gospel a word of command or warrant for imprisoning a christian brother for debt, Exod. 22.26 Deut. 23.19. Levit. 25 35. Ezech. 18 8. jeremy 34.14. but rather containeth a command to relieve him if he be fallen into decay, to take care how and wherein he shall sleep, to set him free at six year's end and then to reward him. By the Law of man it was not so, Ab initio: for by the Common Laws of England, Against the law of man. which are the most ancient, most eminent, & most binding laws, no man may be taken or imprisoned for debt, but the creditor was to take satisfaction, upon the debtor's estate of goods & lands, according to Magna Char. 3. H. 3. and 14. Ed. 3. although after accountants only were to be imprisoned until they paid, which was made general against all debtors by the statute of the 25. Ed. 3. cap. 17. yet prisoners in Execution, might and did follow their vocation and affairs, by bail, mainprize or baston, as by the statute of 1. Rich. 2. cap. 12. and from that time forwards, were prisoners tied up shorter to the writ of Habeas corpus or the King's special mandate, upon surmises, Habeas corpus. that the said debtors made secret estates in trust to defraud their creditors or were wilful and obstinate to pay them, being able. To answer these objections, it is unjust to punish all promiscuously, aswell frauders, as non frauders, without and before any proof made; yet if the fraud were proved or his ability and sufficiency either, there is no cause to imprison his body, because the law doth give the estate forthwith to the creditor, whether the debtor will or no: so it is still needless to imprison the body, for twenty year's imprisonment discounteth never a penny of the debt, and yet the debtor hath suffered more misery and punishment, than a guilty Traitor or Rebel suffereth for the highest offence. It is against the rule of justice and law of Nature, Against the rule of justice.. that men equally free borne should be deprived of the common and equal liberty, and be given into the power of another without criminal cause or guilt. The debtor is either punished for guilt or cohersion: if for guilt, it is against the rule of justice; for to be found a debtor in the Law, is no criminal guilt, and therefore unjust to punish him criminally: If for cohersion, to make the debtor bring forth his estate to the payment of the debt; it is also against the rule of justice to enforce a man by punishment to do that, which appeareth not to be in his power, or whereof the Law is already certified that there is not wherewithal to do, according to the purport of the Capias granted against the body by the Common Law. It is also against the rule of justice to thrust all kind of debtors into a prison together in a heap, without respect to the different qualities of men, to more or less guilt of fraud or obstinacy, or whether it be an honest or an usurious debt, Plutarch in Solon's life. to more or less means of the debtor, whereby he must live or starve in prison, or to the holding him one or twenty years in prison; for some are great debts for thousands, some are small debts for trifles, some are supposed debts not yet proved, and in truth some are no debts. But for certain all (or nine in ten) are usurious debts and forfeitures, scarce one honest debt of a hundred, but all by unlawful gain upon corrupt and desperate adventures. But it will be said that imprisonment is no punishment, for prisoners live at ease and pleasure, etc. according to the received opinion: but the miseries and afflictions of imprisonment are inexplicable and cannot be conceived by any that have not felt or had proof thereof. The ancient Romans construed and reputed imprisonment to be a guard, or sa●e keeping of slaves and bondmen; but a heavy punishment to free borne men: and it is recorded that the Prophet Micha was sent to prison to be fed with the bread of affliction. For imprisonment is a corporal punishment, A description of imprisonment. a grief and torture of the mind, a long and lingering dying, and sometimes a short kill by plague, etc. it overthroweth a man's reputation, and destroyeth all that is good and dear unto him; his kindred grow strange, his friends forsake him, his wife and children suffer with him, or leave him, or rebel, or degenerate against him, and lie open to all disgrace and villainy of the world, in whose miseries the prisoner suffereth more than in his own sufferings: before him the sight of all these miseries and evils, and (which is not the least) he lies open to every arrow of scandal or calumny, that a malicious adversary will shoot at him, which he can neither resist nor avoid, because he is absent to confront them: behind him grief for loss of liberty, credit, friends, estate, and all good fortunes; his bail and sureties (who commonly are his nearest kin, or dearest friends) lie in the power of his adversary, or are already imprisoned. To say nothing of ill air, strait place, hard lodging, unwholesome diet, with the noise, noisomeness, pestering and fettering the body of the prisoner, as the least of many evils. Against Conscience and Charity. Let this be weighed in the balance of Conscience and Christian Charity, and you shall find that these proceed cannot subsist, for they are against the Law of God, and not warranted by Scripture. But to induce diverse necessary consequences for proof hereof, we are to consider how many ways any man may guiltlessly and innocently fall by the Law, Guiltlessly or innocently. be convict of debt or damages, and cast into prison thereupon, viz. By misprision or ignorance of himself or his Attorney; in pleading of the cause by careless or unskilful Councillors, especially when false things are cunningly laid, or true things uncertainly laid. By the necessity of the defendant, wanting means to pay his Attorney or Council, and by combination of the adversary with the defendants Attorney, Solicitor, or Councillor, or with the witnesses or jurors, for love, malice, or ends of their own. By perjury of witnesses, in concealing, perverting, and misapplying truth, or deposing untruth, and by subornation of Witnesses, jurors, or Officers in the impannelling of jurors, and corruption of the judge. By casualties. A man may likewise be disabled and become insoluent, by as many casualties and acts of honest and good intentions, and consequently become a debtor, and be cast into prison thereupon; as by suretyship, bail, or security for kinsmen, friends, or others; likewise by loan unto them, who pay not again; also by falsehood of friends, servants, and others put in trust with moneys, evidences, office, trade, and lands: Again by moving a just suit in Law, where might, practice, or falsehood overbeareth him, or many year's suit consumeth him. Also by fire, water, shipwreck, and such like sudden and unresistable accidents at sea; or at land, by robbery of Thiefs and Pirates. By unprofitable buy and sellings of Lands, Leases, Merchandises, etc. By arrest, seizures, or pretences and detriment of foreign Princes. By sudden loss of friends or masters, on whose favour any man's estate dependeth: also by errors in making or keeping reckonings and accounts, or by losing or not calling for Acquitances, Bills, Bonds, Releases, or Engagements and Assurances, for Warranties, Annuities, Dowers, joynctures, Legacies, and such like. By Vsurors and Usury, eating up a man's estate by interest and forfeitures, and by a multitude of other means, whereby no man is secured but may become a debtor and insoluent. And this Law taketh no consideration, or admits no information hereof, but in Summo jure, Summu● Iu●. giveth the whole forfeiture without any conscionable respect, and the after proceed are suitable: for after judgement, though the debtor by his goods discharge ninety and nine pounds, of one hundreth pounds principal; yet the body is subject to be imprisoned, till he pay the whole forfeiture of two hundreth pounds: and the words of the Statute are, That if he have no goods nor chattels, or not enough to satisfy the whole, his body shall be imprisoned for the rest, till he make payment or agreement, Marlebridge Cap. 23, Anno 52 H. 3, etc. So every way it is in the absolute will and power of the creditor, to cast the debtor's body into prison; when in all conscience and equity, if he have no means to pay, he ought to be let out of prison, or not to be imprisoned at all, because the debtor's body can give no satisfaction to the creditor, being in itself considered. Some prisoners have means and are willing, Means to pay & yet canno● but cannot pay, either because the present power of their estates is not in them, or in regard of the time, that they cannot sell or receive payment, or in regard of the worth, for scarce any will buy a prisoners lands, lease, or goods at half the worth: or in regard of others interressed, without whose consent he cannot dispose thereof, or the estate is entangled with dowers, joynctures, warranties, assurances, statutes, etc. Some have not means sufficient to pay all, and some have no means at all, and are kept in prison because they have rich friends, who for their sake live and die miserably in prison. Some have means and will not pay, of fraud and obstinacy; but of these there is hardly found one in a hundred: for if that were so, the creditor (who searcheth the very reines of the debtor, and his estate) will rather seize and recover the prisoners estate, than cast him into prison, where if he die he loseth all. Now if an honest man may innocently fall in the Law, by such a multitude of accidents, practices, and errors of others, and by doing just and friendly offices to others, and may fail also in his estate, and become insoluent by so many ways, casually and causelessly in himself, and by the fault and errors of others, and cannot be a criminal debtor but one way, which is by fraud and obstinacy only (of which scarce one example is to be found in a hundred,) how can it stand with any charity or conscience to neglect and pass by so many circumstances, and to fall upon the debtor with such cruelty, by laying such a heap of miseries upon him, his wife, children, and reputation at once, as imprisonment bringeth? It is true that the ancient Common Laws of England, are very strict in this point of maintaining Pacts and Contracts; but the contracts of those times were simple, Recovery only against the estate. honest, and legal, and the recovery was against the estate only, for there were no penal bonds known, nor usury practised by Christians when those Laws were made; but all our contracts and bonds, or the greatest part, are corrupted with usury and forfeitures, which are extortion in a high degree: and to force men to perform such with the loss of their estates, credit, liberty, and many times of life too, is most inequitable. The penalty of Bonds unjust. Especially being the Law provides every creditor his full damage, without the help of a penal Bond, which showeth that all forfeitures are needless: and they are unjust also, for they make the usurer judge of his own damage, which of right belongeth to the judgement of the Law. But it will be said, that the Chancery doth mitigate the hardness and rigour of the Law in usuries for forfeitures, and that wrong judgements may be reversed by Attaint, Errors, Audita Quaerela, etc. The answer is, That the remedy is worse than the disease, for all courses of relief by Law in Chancery, are hard, tedious, uncertain, long, and extreme chargeable; and it is a lamentable case, that when the debtor is unjustly or unconscionably cast in the Law, stripped of his estate, his body imprisoned, his liberty tied up, his credit destroyed, and his friends banished; then to send him so disabled to seek remedy by new suits in Chancery, which are chargeable above measure: and with the same extremity doth the Statute of Bankrupts deal with the poor debtor, as heretofore hath been declared. That prisoners are compassed with a multitude of ineffable miseries, and heavy afflictions, and therefore some cannot choose to become weak in faith, staggered or desperate, when there is no man to speak a word of comfort in due season, appeareth by the miserable ends of many desperate persons, whereby one with shame and distemperature loseth his sense and dies, another for poverty and want perished, one with fear and grief breaks his heart outright; another's heart that cannot break, the devil is ready to teach him desperately how to make way: one uncharitably flies from his keeper, another desperately adventures his life to break prison; and finally many are careless and given to all vices. For faith is rightly compared to a Lamp, Faith compared to a lamp. which must have oil continually to maintain their light, which otherwise is soon exstinguished. So doth the Word of God maintain Faith by continual preaching, whereof prisoners are destitute for the most part. Objection. Some men will excuse the unconscionablesse of the Law, alleging that in seizing the debtor's body and goods, and giving way to usuries, forfeitures, and corrupt bargains, the Law doth no more than the debtor himself hath contracted under his hand and seal: And Volenti non fit iniuria, whereunto it is answered. Answer. 1 First that the guilt of the Law cannot be so washed off, for in debts where there is no contract under the debtor's hand and seal, the Law gives the debtor's goods, and his body into prison at the creditors will. 2 That the debtor is not Volens, for it is against every debtor's will to pay usury or forfeiture; but he is pressed thereunto by his own necessity on the one side, and by the creditors uncharitable will on the other, who will not lend but for usury and forfeiture. 3 The common saying (volenti non fit iniuria) is a false position, else it is lawful to knock a man in the head that is willing to die, which is absurd; for the will or consent of the party unto an act that is in itself unjust, cannot make the act just, nor justify the actor. It is also objected, that if men's bodies may not be imprisoned, how shall they recover their debts? Answer, upon the debtor's estate only, as this kingdom did heretofore, and other kingdoms now do, and therefore let the creditor ground his trust thereupon, and trust no further than the creditors estate, for thence only can he have true satisfaction. It is replied, That there will be no more credit given if men's bodies may not be imprisoned, and consequently, trade and commerce will decay. Answer; honest trade, honest contracts, and honest trust will notwithstanding be as plentiful, for while there is the same use, necessity, and profit by commerce, there must needs be the same effect: True it is, that usurious contracts will be more relatively made to every man's estate, credit and honesty, as they did in the times of the old law and of the Gospel, and yet do in politic governments. It is against the creditors own profit, Against the creditors own profit. for all means of satisfaction must arise either out of the debtor's credit, out of his labour and industry, out of the will of his friends, or out of his own estate; and all things that deprive or disable the debtor in any of these, do weaken and lessen his means, and consequently tend to the creditor's prejudice and disadvantage. Herein it is not needful to rehearse all the former miseries decreasing the debtor's estate: for daily experience proveth, that many debtors have offered at the first to pay the principal debt, or half, before they were cast in prison, which afterwards by more troubles and charges coming upon them, were disabled to pay any thing: how preposterous and absurd is it then to cast the debtor's body into prison, where his estate is wasted, his credit spoiled, his fortunes and virtues lost, his body afflicted, his life consumed and murdered, and whereby the creditor bars himself from all remedy against his estate for ever? The consideration hereof maketh the debtor to retain in his hands what they can to maintain themselves, their wives and children, and to keep them from perishing, which maketh also against the crditors' profit. The body of every subject belongeth to the king, To the prejudice of the king and commonwealth. and every subject is a member or single part of the body of the commonwealth, so that to take this body, and to cast the same into prison for debt, where he must lie rotting idly and unprofitably all the days of his life, and die miserably, is no other than to strip and rob the king and commonwealth of their limbs and members, and consequently of the services and endeavours of a great number of subjects yearly, of all degrees and professions to do service to the king and commonwealth; which number of prisoners exceedeth all the prisoners in all other countries. It is therefore in christian Charity wished, and in all Godly Policy desired, That the bodies and endeavours of all debtors, may be free from imprisonment, and the creditor's recovery be made against the debtor's lands and goods, according to the ancient fundamental Laws of this Kingdom, being most consonant to the Law of God, to christian Charity, to the rule of justice and to godly Policy as aforesaid; And that Interim, the relief of prisoners may be permitted, which the late Queen Elizabeth granted for her and her Successors in the 28. year of her Reign, by a large Commission recorded in the high court of Chancery; the exemplification whereof was by all prisoners for debt humbly desired. Many other reasons are alleged in the said remonstrance invective against usury and usurors, which I have omitted; and hereunto let us add certain observations in general concerning executions. The Law is said to be a mute Magistrate: but the Magistrates are a living Law. THe strength of the Law is in commanding, and the strength of commanding is in the constraining or executing of the Law, which belongeth unto judges and Magistrates. The consideration hereof did produce a diversity of opinions, whether judges or Magistrates ought to be for a time or term of life, the often changing of them being according to the custom of the Romans, who did instigate men to accuse those that had not discharged the place of their office duly, Customs of the Romans about execution of laws. whereby wickedness was not only punished, but also every man (through emulation) did endeavour himself to follow virtue and to discharge the place of his calling. Besides whereas virtue in all commonweals is the principal point whereat men aim, and whereunto the Law doth bind them: So the distribution of offices is a reward of virtue, which cannot be done to many, when they are given in perpetuity to some few, which many times hath been the cause of sedition by the inequal distributions of rewards and punishments in some Commonweals. Inconveniences of yearly officers. True it is, that there are many inconveniences if the officers be but for one year or a short time, to the hindrance of the public good: for they must leave their place, before they know the duty of it, and commonly unto one that is but a novice in the place, whereby the affairs of the Commonwealth fall into the Government of such as are incapable thereof and without experience. And if they be fit for the place, their time is short, that it doth vanish away in feasts and pleasures, and matters either public or private do remain undecided; and every thing protracted without due administration of justice: besides how is it (in common sense and reason) possible, that he should command, with the effectual power of a Magistrate, that within a little while is (as it were) a cipher, without power or authority? what subject will yield him due respect and reverence? whereas on the contrary, it his office be perpetual and his estate assured, he is resolved boldly to resist the wicked, to defend the good, Commodities had by judges permanent. to revenge the injuries of the oppressed, and even to withstand tyrants, who many times have been astonished to see the constancy of the judges and Magistrates in the execution of justice, according to the law: and herein is the common law excellent, because the judges and Magistrates are authorised accordingly for term of life, as the dignity of the place requireth; and are also chosen with great solemnity, in regard of their integrity, knowledge, and experience in the laws, whereof they are the ornaments, whereas to call the yearly judges in question, after their time expired, is a derogation and dishonour to the laws in other countries. The Sheriffs and many other Officers which put in every county the writs, commandments, Subaltern Officers annual. and judgements of the courts in execution are removed every year, and the same being expired, they may be called to account, to answer for any misdemeanours committed by them during their office by the ordinary course of the law, which maketh them vigilant and circumspect in the execution of their places which they supply, either personally, or by deputies for whose offence they must answer. This authority and severity of the judges therefore doth prevent many mischiefs, putting a fear in the hearts of the offenders of the law by the rigour thereof, which in criminal cases is called by some cruelty. But the merciful judge is more to be blamed in these cases than the severe, because severity maketh men to be obedient unto the laws, whereas too much lenity causeth contempt both of Laws and Magistrates. Nevertheless, as there is in all commonweals two principal points which the Magistrates are to consider, namely Law and Equity, so the execution of law is to be considered by the Magistrate, who sometimes being too severe, may do more hurt to the commonwealth than good; seeing the intention of those that made the law, Law's intention is the common good was to provide for the good of the commonwealth; Salus populi suprema lex esto. This may be said especially in regard of the statute Laws, whereof we have the example of Empson and Dudley fresh in memory, who being privy Councillors to king Henry 7, caused the penal laws to be strictly executed against his subjects, whereby the king gathered much treasure with the loss of the love of his subjects, which was much displeasing unto him, as the Chronicles of this realm have recorded. Because there is nothing so effectual to cause the prince to be called a tyrant than this course of strict execution of laws, which hath an affinity with the saying of Nicholas Machiavelli sometimes Secretary to the great Duke of Tuscanie, touching the condition of men in general. It is miserable that we cannot do all things; The saying of Machiavelli. More miserable to do that which we would do; and most miserable to do that which we can do. Informers nevertheless are necessary members in a commonwealth, for the maintenance of laws, which otherwise would be fruitless, or made as it is said by some, propter terrorem; for prevention whereof, it is very commendable to preserve this life of the law, consisting in execution: which was the cause that commissioners have been heretofore appointed, to retain men in their duties, as the Nomophilats' in Greece, the Censurors amongst the Romans, the Ephores at Lacedaemon, the Areopagits at Athens, the Visitors in Spain, Commissioners to retain Officers in their duties. and the Commissioners of Troyle, the Bastort in Edward the first his time; for all humane actions are so flexible to evil, that they have need of a continual remembrancer to virtue for the conservation of the public good. If we will make a comparison between the execution of Criminal causes, and civil, we shall in a manner find the same to be all one effectually: for the general manner of death imposed by the law, is hanging, where in other countries they have diverse manners of executions, according as the fact is heinous. Murder (being a great offence) hath in all ages been punished with death, but stealing of goods was always taken to be much inferior, because the law of God did not punish the same by death, as is now used; and yet a death by sudden execution, is better than a linger death by famine, imprisonment, and other adversities, before remembered. The effect of the king's Prerogative Royal (to be merciful even when law hath had her full course) is to be seen rather in causes civil than criminal, and that in the relief of poor distressed prisoners and others: justice and Mercy in God are not contraries. seeing the Mercy of God (whose Lieutenants they are on earth) is above all his Works; which maketh me to remember an error of the common people, which think the justice and Mercy of God to be contraries, for if they were, they could not be in God, because the godhead being but one, and always like itself, cannot admit contraries, and contraries they cannot be, being both virtues, whereas no virtue is contrary to virtue, but only opposite to vice: so that (respecting the King's Prerogative in criminal causes when the law hath determined death or punishment by perpetual imprisonment or banishment) the King (imitating God's mercy) doth restore life, freedom, and liberty, much more may the King do the same in civil causes (when the law commandeth imprisonment until satisfaction be made of the judgement) give liberty and prolongation of time, as having an interest in the persons of his subjects, as we have observed. I have herein been the more ample, because it concerneth the life of many honest men etc. CHAP. XIII. Of Denization and Naturalisation of Merchants. THE manner to make Merchant strangers, Artificers● or Handiecrafts men to be Denizens or Naturalised, was in times passed without any difference: and they did enjoy the like liberty and privileges, and were most commonly made by his Majesty's Letters Patents under the Great Seal of England, by his Highness' Prerogative Royal; whereby they did enjoy all the freedom and immunities that natural subjects do enjoy, and were so reputed and taken by the Laws of the Realm, upon their oath (made in Chancery) of allegiance to the King and the Commonwealth. But the same was afterwards called in question, upon the misdemeanours of some forgetful persons, and then Denizens were made to pay Customs to the King, as strangers, howbeit they might buy leases, lands and houses as English borne subjects, and their children here borne should be free, and pay but English Custom for goods imported and exported, and may become freemen of London, and buy cloth in Blackewell Hall and all other Markets, and transport the same where it pleased them, albeit the Merchant's Adventurers have infringed the same. Naturalised distinguished, Nevertheless (some privilege to pay English Custom, being granted to some particular Merchants, by the Prince's prerogatives by Letters Patents under the Great Seal) it came to pass that these were named Naturalised, which might be placed in offices, as justices of the Peace and Quorum, high Sheriffs of the Counties, and other places of dignity, and came to be made Knights and Barronets, and some of them buying lands and leases, made great purchases, married their daughters unto diverse Gentlemen and others, did also sell lands again, and bought other lands; which buying and selling of lands did require assurances to be made, and therein some Lawyers were of opinion, that by the Law the said assurances were not of sufficient validity without an Act of Parliament, and then the Acts of Naturalisation were made; but the making of Denizens was always continued by his Majesty's Letters Patents only, and they are not subject to the Statute of Employment, albeit they pay strangers Customs, Denizens not subject to the Statute of Employment. and diverse other charges, which the native subjects do not pay, whereof Merchants are to take notice. No stranger which is a Mechanical person, is much inclined to be a natural subject by Act of Parliament, because of the charge of it, which may be about 30 ll: albeit four or five persons may join together by petition to the Parliament, and have one Act for them all, the form whereof is commonly as hereafter followeth. And here note that a Merchant is in no danger, if he be neither Denizon nor Naturalised; but may deal, traffic, and negotiate at his pleasure, but he may take no leases nor buy lands. IN most humble manner, beseech your most excellent Majesty, your humble and obedient Orators I. L. of Florence, your Majesty's servant T. M. etc. R. B. and M. Q. That whereas the said I. L. the son of A. L. and L. his wife strangers, were borne at Florence in Italy, in the parts beyond the Seas: and whereas, etc. And whereas M. Q. being the son of M. Q. and C. his wife borne at Bridges in Flanders, in the parts beyond the Seas in lawful matrimony, and hath (for the most part) these twenty years remained and made his abode in London, within your Majesty's Realm of England, during which time, he hath demeaned himself faithfully and dutifully towards your Highness, and your Laws; yet for that both he and the rest of your Majesty's Orators were borne in the parts beyond the Seas, they cannot take benefit of your Majesty's Laws, Statutes and Customs of your Highness' Realm of England, as other your Majesty's subjects borne within this Realm, to their great prejudice, loss and hindrance: It may therefore please your Highness, of your most noble and abundant grace, that it may be ordained, enacted and established by your Highness, the Lords Spiritual and Temporal, and the Commons of this present Parliament assembled, and by the authority of the same, That your Majesty's most humble Petitioners I. L. T. M. R. B. and M. Q. and every of them shall from henceforth be adjudged, reputed and taken to be your Highness' natural subjects, and as persons naturally and lawfully borne within this your Majesty's Realm of England; and also that they and every of them, shall and may from henceforth by the same authority be enabled and adjudged able to all intents and constructions, to demand, challenge, ask, have, hold and enjoy lands, tenements, hereditaments and rents, as heir or heirs to any of their ancestors, by reason of any descent, remain, revert, or come to them, or any of them by any other lawful conveyances or means whatsoever, or which hereafter shall come, etc. as if they and every of them had been your Highness' natural subjects borne; and to hold and enjoy to them, and every of them jointly and severally lands, tenements and hereditaments, or rents, by way of purchase, gift, grant, or otherwise, of any person or persons to all constructions and purposes, as though they and every of them had been your Highness' natural borne subjects: and also that they and every of them from henceforth may and shall be enabled to prosecute, maintain and avow, justify and defend all manner of actions, suits, plaints, and other demands whatsoever, as liberally, frankly, fully, lawfully, surely and freely, as if they and any of them had been naturally borne within your Majesty's Realm of England, and as any other person or persons naturally borne within the same, may in any wise lawfully do: any Act, Law, Statute, Proviso, Custom, Ordinance, or other thing whatsoever, had, made, ordained, or done to the contrary in any wise notwithstanding: And your Petitioners shall daily pray for your Royal Majesty long in honour and most safety to remain over us. This Petition in nature of an Act of Parliament, The manner of proceeding in Parliament. is delivered to the Speaker of the Parliament, who upon the second reading in the Commons House, procureth the same to be referred to certain Committees before whom the Petitioners do appear, and (after examination) if there be no apparent cause that might cross them, the Bill is returned into the Parliament, and read for the third time, as the manner is of all Acts, and then it is carried up to the higher house, and there it is commonly of course also read three times and so allowed, and there it doth remain until the last day of the Session of Parliament, and then the King's Royal Assent is had thereunto, and there is written on the backside or within, these words Le Roy le Veult: And if it be an● Act which the King will not pass, the Clerk of the Parliament writeth, Le Roy S'aduiser'a, which is a clean and absolute refusal, and all which was done is void, and cannot be revived in another Parliament without to begin all from the beginning again. So much for England. In France all strangers that are not borne within the Kingdom, and reside or dwell in the same, Aubeine in France. are subject to the right of Aubain so called Tanquam, Alibi nati: for after their death (if they be not naturalised) the King doth seize upon all their goods they have in France, and appropriateth the same to his Exchequer or Finances; without that the said strangers can dispose thereof by Testament or Will, or that their lawful heirs can claim the same, howbeit they may give them, and dispose thereof whiles they live, by contracts made between them. A stranger also not dwelling within the Realm, yet having gotten wealth or means within the same, may dispose of it unto his heirs and others, although they were strangers. Also if a stranger travelling through the Kingdom of France should chance to die, his heirs shall enjoy his goods which he hath left at the time of his decease in France. But when a stranger taketh letters of naturalisation, then may he get wealth and possessions within the Realm lawfully and freely: which letters of naturalisation must be recorded in the Chamber of Accounts, upon pain of a penalty paid to the King, and his lawful heirs shall enjoy the said possessions and goods; so as he be nature of the Realm, or any other to whom the same be given by Will or Testament, so as he also be naturalised, as aforesaid. But Monsieur Papon the Civilian saith, That it is not sufficient for one to enjoy the same, to be borne within the Realm, but it must be also of a woman taken in marriage within the Realm: and hereupon allegeth an arrest or sentence of the Parliament of Paris, whereby a cousin of a stranger deceased, was preferred before the sister, because the cousin was born within the realm, and dwelling in the same, and the sister did not dwell within the Realm, and was borne in another country, albeit she caused herself to be Naturalised after the decease of her brother, whereof the Court had no regard, because the goods by succession were gotten before, which could not be made void by the King's Letters Patents. Monsieur Banquet is of opinion, That a Frenchman being departed the Kingdom, for to dwell in another country, that his goods present and to come do appertain unto the King, and cannot dispose thereof by Will or Testament, as it hath been proved by diverse Decrees of Parliament. The King is Lord of all vacant goods, and therefore wives and children are to take Letters of Naturalisation to purchase their quietness. And if any stranger borne and naturalised, should be out of the Kingdom some eight or ten years upon especial occasion or otherwise, he is at his return to take new Letters of Naturalisation, or a confirmation of the former by some approbation. An observable consideration. And herein is a special point to be noted, as a matter of record, that those of Flanders, Milan, and the French County of Savoy, are not bound to take Letters of Naturalisation to dwell in this Kingdom, because the French Kings pretend that the said countries are theirs, and were never alienated by any conse●t of theirs, but are countries which at all times have belongeth to the Crown of France, who doth acknowledge the subjects to be true and loyal Frenchmen. But it is requisite if they come to dwell and inhabit within the Realm, that they take Letters of Naturalisation, to the end the Officers do not molest or trouble them. By the premises we see, that the Naturalising in France is fare more compulsory for Merchants than in England; howbeit that in both Kingdoms, if a stranger Naturalised (after many years that he hath inhabited the same) be desirous to return to his father-land or native country, he may surrender his Letters Patents, and be discharged of his oath. (* ⁎ *) CHAP. XIIII. Of the determination of Seafaring causes. Having now hitherto entreated of the Customs of Merchants, with their Adjuncts and Accidents, and therein observed Time, Number, Weight and Measure, as also the three Simples and Essential parts of Traffic, with their Effects and Properties: let us now consider of the Manner and Method of the proceed therein, to see by what means they are determined and executed; for in the execution consisteth the life of all laws, and the perfecting of men's actions which aim at some certain end. For it hath been well observed by some, that the actions of a wise man and a fool differ in this, Differences between the actions of a wise man and a fool. That the wise have a regard to the end in what they undertake, and the fool without consideration permitteth the end to manifest in self: whereof ignorant men judge according to the event, although the enterprise were never so advisedly taken in hand, and as if the success did not depend upon the divine power, to be guided by his providence. The determination of all causes and controversies, especially of Merchant's affairs is done and executed, as followeth. 1 Concerning Seafaring causes which are determined according to the sea-lawes already written, and in the premises abridged, Four meane● to end controversies. we shall in this chapter briefly declare the manner of it. 2 The second mean to end controversies, is by Arbitrators chosen and elected by both parties to end their differences with brevity and expedition to avoid suits in law, which unto Merchants are inconvenient. 3 The third mean, is the authority of Prior and Consuls of Merchants for the Merchant's Courts, according to the privileges which princes have granted unto them for the advancement of their traffic, and maintenance of their Customs, whereof most judges are either ignorant, or contented to determine matters accordingly. 4 The fourth and last mean, to determine questions and differences is by the civil or imperial law, or the common law of the kingdom or jurisdiction of the several dominions of princes, according to the fundamental laws of them; wherein we are especially to observe, That the Law-Merchant is predominant and overruling for all nation do frame and direct their judgement thereafter, giving place to the antiquity of Merchant's Customs, which maketh properly their law, now by me methodically described in this book, which alloweth to every man and nation his proper right and due, and hureth no man, Three precepts of all Laws. according to the three general precepts of all laws set down by Caius, and after him by Tribonianus, namely: Honest vivere, Alterum non laedere, & Ius suum cuique tribuere, whereof the second trieth and ruleth the two other, whereof more hereafter. Touching the first mean to determine Seafaring causes, it shall not be needful to speak much of the definition of an Admiral at the seas, An Admiral. called by the Romans Magnus' Dux Classis, and Drungarius magnus, or Admiratus, from Amiras, a word used by the Spaniard to See, or Adelantado, as going before the rest of ships; also by the Italians L'amiraglio, or Admiral in French, because his calling is known to all. But let us observe that for the readier obedience to the great Admirals of the seas, it is agreed by common consent of all nations, that they should have (in regard of their power over the lives of men) a sovereign jurisdiction only proper to themselves, The Admiral's Court. in all Seafaring causes and debates civil and criminal, so that no other judge should meddle therewith; and the judge of the court, being his deputy, judicially to decide them by the Advocates and other Assistants, for the better and just proceeding of the said court. Also the Admiral's clerk is veric necessary; and herein it hath been thought convenient, that all Proctors or Attorn'eys of that court should take their oath before they be heard, Advocates and Proctors, etc. that they shall do nothing maliciously, but as soon as they find their action to be unrighteous in any part of the process, they are to tell it to their Client, and if the Client will insist, then to show it to the judge: The Proctor's oath. also that they shall not reveal their Client's secrets to the adversary: and lastly, that they shall not propound, delay, nor be peremptory against their consciences; and the like oath is to be taken of other officers at their admission. The causes to be determined in the Admiralty Court do extend very far, and many are otherwise decreed or determined, especially by the Merchant's Courts, Causes to be determined by the Admiralty and office of Assurances, whereas heretofore the judges of the Admiralty did minister justice upon all complaints, contracts, offences, pleas, exchanges, assurances, debts, accounts, charterparties, covenants, and all other writings concerning lading and unlading of ships, fraights, hires, moneys lent upon hazard of the Sea, and all other seafaring businesses done on the Sea or beyond the Sea, with the acknowledging of writs and appeals from other judges, letters of reprisal or mart, to arrest and put in execution, to inquire within and without liberties, by the oaths of twelve men upon all offences and trespasses, and namely: First, touching the revealers of the King and Country their secrets over Sea, especially in time of war. Against Pirates, their assisters or abettors, Outreaders or Receivers. Against fortefiers of the King's enemies, and harmers of friends. Against the breakers of the Admiral's arrests and attachments. Against goods forbidden, and merchandise not Customed and yet transported. Against the resisters of the Admiral's Officers in executing his precepts. Against Forestallers, Regraters, and dearthers of corn and victuals, etc. Finally against transporters of Traitors, Rebels, manifest transgressors, and fugitives from justice, or casters of ballast, sand, or any other thing in harbours or channels, extortioners by ships and boat-wrights, for taking away the boigh from the anchor, cutters of cables or towes, false weights and measures by sea, shedders of other men's blood on sea, or in any port, or lamed by misdemeanour, Customers and Water-bailifes taking more custom or anchorage than they ought, for absenting from musters in time of war, for all transgressions committed by seamen, ferry-men, watermens, fishers, pilots, shipwrights, pressed men containing the Admiral's authority, and to amerce them for his own benefit; the goods of pirates, felons, capital offenders, their receivers, assisters, attainted, convicted, condemned, and outlawed, waif and stray goods, wreck on the seas, and cast goods, Deodando, that is to say, the thing, whether boat or ship etc. that caused the death of a man, or whereby a man did perish; Beacons to give light on the seas. shares, lawful prizes, or goods of the enemy, or Lagon, Floatson, and jetson before declared, with the anchorages, beaconages, swine, sturgeon, and whales cast on shore, & all fish of extraordinary greatness, called Regal; of all these the Admiral hath authority to deal, correct, and punish according to their deserts, and the laws provided for the same by statutes enacted, and all other laws and means before declared. The Clerk of the Admiral ought to be very skilful and honest, and is to have diverse Registers for congees, safeconducts, passports, sea-briefes, without which no ship in time of war is to pass, The Registers of the Clerk. nor yet in far voyages in time of peace; another Register for the true knowledge of captains and masters of ships, and their return; a third Register for the names of Merchants, passengers, and owners, which the master ought to deliver up to have them enrolled, and all pilots names (although recorded in the office called the Trinity house) ought to be set down, and known to the Admiral's clerk; also all moneys delivered upon hazard, or bottomarie, as is heretofore declared, called foenus nauticum, or pecunia traiectitia. Now the manner of proceeding in seafaring causes, The manner of proceeding. is according to the laws aforesaid, or the customs written: and if the debate or cause cannot be determined thereby, the last refuge is, according to the opinion of skilful and upright men in their own trading; but all this must be done, as the law sayeth, Velo levato, so briefly and summarily without the solemnity of other ordinary courts and judgements, only looking to God and the truth, and all complaints to be ended instantly, especially of shipwreck; for it were a cruelty to vex so miserable persons with tedious proceed: whereupon in this case the judges may proceed to execution upon every interlocutory, and make restitution presently, upon good caution to be given to satisfy the appellation, if any be made. And herein there is a further privilege to them: for whereas by the common rules of the law, where no litiscontestation is past, or as we say, bill and answer depending, no witness should be received, nisi ad eternam rei memoriam, Extraordinary privilege. ac adversario ad id citato, yet in shipwreck (as a case to be commiserated) any of the ship-broken-men may come to the judge of that part where the wreck happens, and by witness brought with him may make proof. And as this is an extraordinary privilege, even so may merchants ordinarily, and masters sailing together, bear witness each one to other of their society within the ship, if they have neither to lose or gain thereby; and especially mariners for or against the master when the voyage is ended, Ordinary privilege. and they free of his commandment. For by the consent of the doctors, when truth cannot be otherwise tried, then unable persons may be heard. And to the end that trade be not interrupted by vexation of quarrelsome persons, it is provided, that not only the common caution judicio sisti, & iudicatum solui be kept on the part of the defendant, but also that the plaintiff or pursuer shall find caution de expensis soluendis, if he fail in proof. Likewise if the party do not appear to defend himself or his ship after three citations, or four at the most, called quatuor defaltae, he is taken for contemptuous: the judge may ordain the Marshal or Officer to put the plaintiff in possession by his sentence or Primum Decretum: Provided that if the party appear within the year, and pay the costs and expenses, he shall be admitted and heard upon the propriety: and in like manner, if any attachment be made upon the ship or goods, it shall upon caution given summarily be heard and determined, for this law of Admiralty intendeth nothing but expedition for the better advancement of Traffic and Commerce. (* ⁎ *) CHAP. XV. Of Arbitrators and their Awards. THE second mean, or rather ordinary course to end the questions and controversies arising between Merchants, is by way of Arbitrement, when both party's do● make choice of honest men to end their causes, which is voluntary and in their own power, and therefore called Arbitrium, or free will, whence the name Arbitrator is derived: and these men (by some called Good men) give their judgements by awards, according to Equity and Conscience, observing the Custom of Merchants, and aught to be void of all partiality or affection more nor less to the one, than to the other: having only care that right may take place according to the truth, and that the difference may be ended with brevity and expedition; insomuch that he may not be called an Arbitrator, who (to please his friend) maketh delays and propagateth their differences, but he is rather a disturber and an enemy to justice and Truth: and therefore the manner to elect Arbitrators, The manner to choose Arbitrators. is worthy the observation. Some are contented to name four or six persons on either side in writing, and refer the naming or electing of four out of them by reciprocal proceeding, when one named the first person, another the second, and then again the third, and the other the fourth person. Others putting several names in a paper, are contented that a mere stranger shall upon the backside of the paper prick their names with a pin, or that (as they are numbered) the dice shall be cast upon them accordingly by the number. Others put their names in several papers, and cause them to be mingled and drawn by way of lot, by an indifferent person, which course may be thought allowable, as we have noted in the Chapter of the dividing of commodities by lots. Others will do the same by nomination of them, and drawing of the longest or shortest straw, or by any other extraordinary means of pointing, numbering, or describing, all tending to one end, to have indifferency, and that partiality may be avoided by all means. Consideration must be had also, whether two, three, or all four shall have authority to determine the cause, Awards are to be given under hands and seals. if they can, to be done within a limited time, wherein their award is to be delivered up, and whether they may name an umpire, or not; all which must be declared in the Bond of Compromise, unless the question be only upon one point to be determined, wherein no Bond is needful but by way of assumpsit, by delivering a piece of coin each to other, and thereby binding themselves reciprocally upon the penalty of a sum of money to stand to the judgement, it is ended. And the said penalty or forfeiture by assumpsit may be recovered by Law and the Merchant's Courts, as well as the forfeitures upon Bonds, if the party do not perform the sentence or award, if the award be lawfully made: Five points to be observed in awards. to which end Arbitrators are to take notice of the five points following, which by the Law do make void all awards. 1 That the award be given up in writing within the time limited, by the bonds of Compromise made between the parties. 2 That there be limited or appointed by the award, some reciprocal act to be done by each party to other; which the Law requireth to be Quid pro qu●, albeit never so small. 3 That they make a final end, and do determine upon all the points or differences produced before them by specification or otherwise, if they be required so to do, and authorised thereunto. 4 That they do not award any of the parties to do or perform any unlawful act or thing prohibited and against the Law. 5 That they do not award any thing, whereby any matter already determined by decree in Chancery, or judgement at the Common Law, or any sentence judicially given in the cause, be infringed or meddled withal. These points ought to be observed for the reasons following: For touching the first, if the award be not delivered up in writing under the Arbitrators hands and seals, if the condition of the Bond do so limit the same: then have they no authority to do the same after the time which is limited unto them, by the consent of the parties. For the second point, reason requireth in all humane actions, a reciprocal act from one man to another, by deed of performance, called Quid pro quo, The reason of Quid pro quo. although it were a man's salary for his pains; which in some cases causeth men to award, that each party shall pay so much to the Scrivener or Notary for writing the said award: but this is no collateral act between the parties, neither is it any matter compromitted to the Arbitrators. It is therefore better to express and award, that each party shall seal and deliver either, general acquittances each to other, or with some exceptions therein as the award will lead them. The third point is considerable, where the differences are by both parties, or either of them delivered in Articles in writing to the arbitrators; for herein it is not sufficient to say, That the said arbitrators shall have power and authority to determine all questions, differences, doubts, controversies, matters of accounts, reckonings, or any other usual or general words, from the beginning of the world until the date of the bond: but they must give their award upon every particular Article, and upon all of them. The fourth point, That the Arbitrators do not award any thing which is unlawful, is to be understood of all things which are evil in themselves, called Malum in se, and of things called evil because they are (upon some respects and considerations) prohibited, and therefore termed Malum prohibitum, as the wearing of hats at all times, transportation of corn, eating of flesh in Lent, and the like; wherein there is a further consideration which requireth a distinction. As for example, an Arbitrator or many Arbitrators do award, A notable good distinction in Law. that a sum of money shall be paid unto such a man, during all the time he is unmarried, is good in Law; but to bind the party by award that he shall not marry, because he should enjoy the money still, is unlawful and void by the Law. The fifth point is of very great consequence, to bind the actions of men to the obedience of the Law; whereunto such reverence is due, that decrees, judgements, and sentences of judicial Courts of Record, are always of a higher nature than Arbitrators awards. Nevertheless in many doubtful questions, the Civilians themselves (after long and curious debates) do assign them to be determined by Arbitrators having skill and knowledge of the Customs of Merchants, which always do intent expedition: and that is the cause wherefore an umpire chosen upon arbitrable matters, An Umpire hath absolute authority. hath an absolute authority to himself given, to end the matter alone without hearing the Arbitrators, if he will: for albeit this is not without some danger, and that the ending of Arbitrators is to be preferred; yet brevity and expedition of justice in Merchants affairs is so much regarded, that by all means the same aught to be furthered. Hence it proceeded that the Merchant's Courts, governed by Prior and Consuls (whereof we entreat in the next Chapter) have authority to reform or confirm the sentence of Arbitrators, Arbitrators award subject to the Prior and Consuls. when Merchants will appeal their arbitrement before them, rather than to go to Law: and with this proviso, That the appellation of the sentence of the said Arbitrators shall not be received by the said Prior and Consuls, before the arbitrement be performed by the party that doth appeal, conditionally that restitution shall be made, if there be cause, upon the end of the process. And the said Prior and Consuls are to note, that no Merchant nor other, being of their jurisdiction, can transport or make over their interest to any person privileged, and not subject to the said jurisdiction, be it by gift, sale, or exchange, or by any other means, to the end thereby to avoid their authority; upon pain that the same transports or possessings shall be of no effect, and the loss of their right and cause. And all notaries who shall receive any such transports, shall be punished by the said Prior and Consuls in a penalty arbitrable: and further shall be condemned to pay unto the adverse party, all his costs and charges which he hath sustained by means thereof. Reference of causes to Merchants. And to the end this expedition may by all means be furthered, the said Prior and Consuls may distribute and refer causes unto the most ancient and expert Merchants in the matters in question, to make a true report of the state of the cause, according to the allegations and proof of the parties, without any salary to be given to the said Merchants; howbeit in Italy some reward is given upon the Ricorse of Merchants. These Merchants are to take the advice of the Advocate, Council and Attorney of the said Prior and Consuls in matters difficult, the better to discern the right of the cause to make their report more complete, for the sooner ending of it according to reason and right, by the true affirmations of the Merchants, and not by feigned, subtle, and crafty writings, which oftentimes do darken the truth, under the colour of fair phrases declared in them, causing protraction and delays. Difference between ludges of the Law and Arbitrators. Marcus Tullius Cicero hath truly set down the difference, which is between judges of the Law and Arbitrators, inclining to the most easy and less chargeable course, saying, The one is servile, the other is noble; the one is bound to the Law, and the other is not; the one doth consist in fact, the other in justice; the one is proper to the Magistrates, the other is reserved to the Law; the one is written in the Law, the other is without the Law; the one is in the power, and the other is without the power of Magistrates: howbeit it is not forbidden, but all justices of Peace may compound differences, and their authority doth enable them better thereunto. And in this regard it is said, That an umpire doth represent the Lord Chancellor's authority, because that the Commissioners, report of the Masters and others of the Chancery, or of Merchants, is the ground work whereupon the Lord Chancellor doth deliver his sentence, and maketh up his decrees. And the said Commissioners have a further authority and power than Arbitrators: Difference between Commissioners and Arbitrators. for they may examine witnesses upon oath, upon any thing in question where there wanteth proof, or they may minister the said oath to either party, upon pregnant occasions to boult out the truth: the like authority have the Prior and Consuls of Merchants. And moreover their authority doth fare exceed the power of Commissioners: for as Arbitrators have a determinate power to make an end of controversies in general terms, without declaration of particulars; so hath the Prior and Consul's power to do the like, whereas Commissioners are to give a reason and declaration of their proceed to the Lord Chancellor. Finally, the Arbitrators authority implieth a voluntary command proceeding from both parties, which the Commissioners have not, but the Merchant's Court hath. CHAP. XVI. Of the Merchant's Courts, or office of Prior and Consuls. THe third mean to end and determine Merchants questions and controversies happening in the course of traffic, is the Courts of Merchants called Prior and Consuls, or Il consolato, as the Italians have called the same. And here we may say a Merchant is, in loco propri●, as the fish in the water, where he understandeth himself by the custom of Merchants, according to which they are determined: and if he do not, yet as every man is taken to be wise in his profession, so may he be admitted to understand them, the rather when he shall truly peruse and ponder the contents of this Book, which in my love to Merchants I have compiled, as aforesaid. The Civilians having considered of this Office of Prior and Consuls established in many places of France, Italy, and Germany, Wherein Prior and Consuls have no power have made diverse questions of their authorities, saying they cannot decree any thing contrary to the law of the land; as that the father shall be bound for the son, or the son for the father, or any thing that is malum in se, or naturally unjust, or against the public good, or that which savoureth of a Monopoly: neither may they forbidden any man to go to law, or order that a work begun by one shall not be ended by another, without the others consent: neither are they to deal or to determine of any thing but what concerneth merchandising; for other things, as the selling of houses, lands, and the like, do not appertain unto them. True it is, that all matters criminal or offensive do not belong unto them to deal in, for there the King's Attorney is a party, and hath interest therein, as falsifying of obligations, and bills of debt, or other writings, matters of reproach, or discrediting of persons, theft, and other evil unlawful behaviour done and committed by their said servants, or themselves, or any other Merchant, Factor, or intermedlers in causes of merchandise, as also all others not exercising the trade of merchandise: are forbidden to be dealt with by the said Prior and Consuls, neither are they to deal with the contracts of Usury either feigned or otherwise unlawful, nor with the Wills and Testaments, or contract of marriages of any persons, or with the interchanging of goods by consent, and all other such like contracts, but only in all civil causes of merchandising. How be it these questionable matters are not of that moment to be discussed, considering that their authority is declared and confined by the Charters and Privileges made unto them by Princes and Commonweals, whereunto relation is to be had, and accordingly they are to proceed, having a respect to the equity of the cause. Hereupon Benvenuto Straccha the Civilian maketh a treatise, Quomodo procedendum sit in causis Mercatorum, of the manner to proceed in Merchant's affairs, wherein are many universal things propounded which are easier, but particular things are commonly more truer, by his own observation; The decrees of Merchants need no other confirmation. and he concludeth that the decrees of Merchants need no other confirmation or approbation. The oath taken by the said Prior and Consuls to observe the Law-Merchant is subject to punishment, if they be perfidious or forsworn, as well as the oath of all other judges. And writing de Consulibus Mercatorum, he sayeth, That a Merchant may call in question, and begin his plea before them, although it be against one that is no Merchant, if the cause concern merchandising; and the plaintiff herein bindeth the defendant to be judged by the said Prior and Consuls, be he either a Knight or Ecclesiastical person, or a stranger not resident in the place. In the like manner all Bankers, Shopkeepers in fairs and markets are bound to their jurisdiction for matter of money and Exchanges, or for merchandise. The plaintiff may in other places (where the defendant doth deal or negotiate) be at his choice to begin or commence his suit where he will, but not in two places at one time for one cause, wherein sometimes the penalty is by him respected to be far greater in one place than in another. Here let us remember the controversy between two brothers which was above fortie-yeares since, called joan de la failias, and jaques de la failias, who went to law in Brabant for many thousand pounds; and afterwards one of them did commence suit in Flanders being another jurisdiction, whereupon he was compelled to pay a forfeiture of 4000 ll; A forfeiture for a jurisdiction. for in truth good orders and customs are to be maintained as laws, and nothing is to be admitted that may infringe the Law of Merchants. The proceed before the said Prior and Consuls is by Libel or Petition, or by Declaration; wherein let us note the difference set down by the said Civilians. Difference between a Petition and a Declaration. The Libel or Declaration is to be made with all the form used in law, as well for the matter of fact, as the matter of law. But in a Petition the form is not needful, so the substance of the matter be well expressed, especially the sum which is demanded, or the goods being lent, or unjustly detained, must be specified; and if it be for money owing for merchandises, or lent, it must be declared, otherwise the Consuls will reject the Petition as impertinent; albeit some trivial errors in Petitions are to be tolerated, and the party is to be (by the Merchant's Law) relieved. They are to proceed summarily in all their actions, Summarie proceeding. to avoid interruption of traffic and commerce; and they are to respect plain and sincere dealings amongst Merchants, with a consideration to construe all things to be done bona fide, so that trust may be preserved amongst them; debarring (as much as in them lieth) the exceptions of Prescription, Excussion, and of promises made without consideration, quod nudo pacto promisisti, and the like; in so much that many times a woman is admitted to be a procuratrix, contrary to the Civil Law: A custom contrary to the civil law. and all other exceptions upon plain bills and obligations are set a part, and the truth is hunted after, and all exceptions proceeding of justice and Equity to be considered of. The paying of Customs, Impositions, Factoridge, Portage, Carriage, and the like charges are much to be respected by them, as also the execution of Wills and Testaments. The publication of witnesses before them, is without delay; and no more witnesses are to be examined after the time of few days limited, is expired: Sentences of the Prior and Consuls. but sentence is immediately to be given in writing, after pronunciation clearly made by them, according to the proof and allegations, upon pain to be punished by the higher courts, and in France by the court of Parliament, upon reformation of their decrees. The manner of this summary proceeding is so brief, that upon coming of the parties before them in person, or by their Attorney, they are presently to nominate their place of residence, or else there is refusal made of their petition or demand; then there is but one delay admitted, and in the acknowledgement of bills of debt or obligations there is admitted but one default: after which the bill is held as confessed and avileable, The authority of Prior and Consuls is greater than the authority of any judges. wherein their authority is greater than the authority of all other judges. For their said ordinance doth extend but to the adiourning of persons, and the said Prior and Consuls upon one only default, and notice left at the lodging of the offendor may aver all bills, and declare the same to be payable; which notice is to be done by the messenger or sergeant of the said office, by fixing the copy of the demand upon the door, if he cannot find the person, and by one witness or two to be affirmed; and hereupon they may seize upon the party's goods, if his body be absent and cannot be imprisoned to pay and satisfy their said sentence and decree; and th● goods by them seized (upon once warning given) may be sold by them to that end. If opposition be made against the seizing, sale, or delivery of goods, or against the cries, or interpositions of decrees, or against any other chief point, where opposition may be admitted, (justice remaining duly garnished) the parties so opposing themselves shall be sent to their judge, and chief men of their province, to declare before them the causes of their oppositions. And if the party adjourned do offer surety, yet notwithstanding he shall be caused to garnish, and lay down caution; and then have power to call his surety; so that the sentence or judgement to be given, shall be against the principal debtor for the principal sum, and against the sureties for the charges, damage, and interest only: and this surety is liable after one default also, unless he put in a third man for surety, to whom also but one default can be allowed. How be it that ●ll delays are left to the discretion of the Prior and Consuls, A diournments and delays used. who will admit none but upon very pregnant cause: and if they find to have granted any delay upon untrue suggestions, they may impose a forfeiture upon the party according to their discretions, and the quality of the cause and persons; and in the proceed there may be two citations and adiournments sometimes used by them, Inquiries used. especially upon inquiries, where the witnesses are admitted with the privity of the adverse party being called thereunto; otherwise all the proceed are of no value. The inquiries are to be done within a limited time, and may once be prolonged upon especial cause, and not otherwise. All lawful proof must be done before them summarily within three days, without any further protraction, unless there be manifest contradiction, and that by default thereof, they pay the penalty to be imposed. Penalties imposed. The like penalties are to be imposed, if the parties do produce any frivolous thing in writing; for there is always expedition and brevity intended in all their proceed. The Registers Office. The Register of the said Prior and Consuls, is to keep a little inventory of all the writings that shall be produced, and shall cause the parties that doth produce them, to write their names upon every one of them: and the said Register is not to take out any copy of matters of moment out of the Inventory of the said writings, neither for the one party nor for the other, but only the cause, and the end, wherefore the said writings are produced, upon a penalty etc. Charges and damages to be taxed etc. All charges and damages shall be taxed by the Prior and Consuls, and be paid, or the party imprisoned not to be released without the consent of the party. And for as much as this course to determine causes, is the shortest and most peremptory of all devices, inventions, and means which can be imagined, I have thought convenient to set down the French Kings Edict concerning the same, as the most complete. An Edict made by the French King, concerning the Court and Authority of the Prior and Consuls of Rouen. HENRY, By the grace of GOD, King of France; To all manner of persons of what estate soever, greeting. As We have been heretofore advertised, that Our City of Rouen is one of the best Cities in all Our Kingdoms, by reason of the situation and aptness for all commerce and traffic, where diverse Merchants (as well of this Our Realm, as of many other Nations) do usually hold an intercourse of buying and selling: for the continuance and propagation of which Trade, there hath of late (by Our Letters missive) been erected and established in the same City, a Common Place for Merchants and their Factors, to assemble themselves in twice every day at the hours accustomed, to dispatch their affairs and negotiations in such manner as is commonly used in the Change at Lions, Change at Lions, Bourse of Thoulouze. and the Bourse at Thoulouze, to the intent that the foreign commodities of other countries, may more readily be transported and exchanged away, with those which Our own bringeth forth. Be it therefore known to all men, That We (through our ardent zeal and desire that We carry to advance the general good of Our said City of Rouen, and to augment the common benefit and ease of all Merchants negotiating there, and in all things possible to gratify them, that they may not be distracted and drawn from their affairs and businesses into sundry courts and jurisdictions, by means of suits and variances arising at any time about their traffic) by the deliberate advice of Our privy Council (together with diverse Noblemen and Princes of Our blood) besides other great and honourable personages, of Our own proper motion, assured knowledge, and regal authority have approved and confirmed, and by these presents do approve and confirm the making and establishing of the said Common Place in that Our City of Rouen, instantly ratifying the same in all points with the Change of Lions, and Bourse of Thoulouze. Willing and ordaining, and Our pleasure is, That all Merchants, Factors, and all others of what Nation soever, may assemble themselves in the same twice every day at the hours accustomed, and in their meetings shall freely use their traffic, and pass their business, as well by exchange as otherwise, not only in the same place, Licence to exchange. but also in any other whatsoever within the liberties of Our said City of Rouen, when and where they shall think good, with all assurance and safety to their merchandise: and withal those privileges and liberties, which Merchants trading to Our Towns of Lions and Thoulouze do enjoy and use, according to the grant of Our predecessors Kings of France, and of Vs. Furthermore We will and ordain, That the Merchants of the said Town of Rouen (frequenting the same place) shall every year cause a society of Merchants to be in the lodge of the said Bourse, or in any other place in the said City, and at such time as they shall think good: in which meeting they shall choose out of the said number, three officers, viz. A Prior and two Consuls to remain ●n their authority for one year, and so yearly to be changed, and there new to be elected according to the ordinary form of most voices, Indifferent election. not only the Merchants of the City of Rouen, but also the Merchant strangers, being to be present and assistant in the said election: which election and nomination being fully ended, the said Prior a●d Consuls shall have present power in them to take knowledge, & to give judgement between all men of what estate, quality, or condition soever they be, of all suits, controversies and differences touching matters of merchandising or buying and selling in such manner as the Conseruator of the Fair at Lions, and the Prior and Consuls at Thoulouze do, as well for Obligations, Bills of Debt, Receipts, Blanks signed, Bills of Exchange, General and particular associations. answers by sureties, associations of Merchants (either general or particular) assurances, accounts, transportations, bargains, and partenerships for matters aforesaid, or any thing belonging thereunto, with as full strength, and according to the judgements and condemnations of the said conservators of Lions, and the Prior and Consuls of Thoulouze. And that the judgements and sentences, decrees and ordinances, commissions and commandments of the said Prior and Consuls of Rouen, by speeches, provisions, or definitives shall stand in as much force and effect, for any matter judicially determined, as those causes which the Conseruator of Lions, and Prior and Consuls of Thoulouze, and others of Our judges do decide. And the same shall be executed by Our Sergeants and Officers, in such manner and form, as they are in their behalf above named; either by committing to prison, The manner of executions. or by inflicting severe punishment, if it be so decreed and ordained; and to that end shall Our Messengers and Officers be bound to perform the executions. Our Gaolers and Keepers of Our prisons shall likewise be bound to receive and keep all such prisoners in such manner, as if they were committed unto them by Our abovesaid judges, and with the like bond and penalty (if any escape happen) as they be bound to keep the prisoners by the authority of the said judges: For so We have enjoined, and do enjoin Our Messengers and other Officers, Gaolers and Keepers of prisons, upon such penalties as the case shall require, and according as by the said Prior and Consuls shall be set down and declared without any default, according as the offence committed shall require. Moreover, We have permitted and do permit Our said Prior and Consuls to take unto them 20 of the said Merchants, or more, or less as they shall think reasonable to assist them in their proceeding and judgements in causes of Merchandise, Bills of Exchange, Aid in their execution. assurances and differences as aforesaid: and to cause to be executed their sentences, judgements and ordinances of pawns and consignements, provisions, seizing of goods, and all their other condemnations' sentences or appointments to proceed therein by cries, proclamations, giving notice to themselves, or leaving notice at their houses by proof, sales, dipositing, deliveries, and execution definitive as the case shall require. Likewise We give them power to direct the same process, Summarie proceed. and to proceed therein according to their ordinances, as well in matters summarily, as by provision; as acknowledgement of Bills, subscriptions, and Bills of exchange. And the like in acts of Pawns and Consignements by one only fault duly proved, by summoning the person at his house, or fixing there a copy of the commission or process in all places where it is lawful to be done. And touching other matters, where two defaults shall be made or summoned in person, they shall proceed, observe, and keep the course according to the King's ordinances. And for all matters wherein they shall give sentence of execution according to their knowledge. We will and do permit them, as aforesaid, to cause the execution to pass in all places of Our Court of Parliament at Rouen, and in all other places of Our Kingdom where need shall require, without any disturbance or let to be done by any of Our judges, justices, or Officers either against them or their deputies; neither shall they let or hinder any summons or arrest, exploit or assignment to be done before them. And to give their assistance, in all causes appertaining to their knowledge touching matter of traffic, and all things thereunto belonging, against all merchants trading in Our said City of Rouen, and as touching their Factors, dealers and intermedlers, of what quality soever they be (sent by them into diverse Countries, Regions, and Provinces, as well within as without Our Kingdom, Countries and dominions under Our obeisance, for the cause of traffic, merchandising, and doing of business, and all other things thereunto belonging.) We will and ordain, Constraint to bring their Ca●● les, etc. That they may be constrained to bring their causes and proof for all matters aforesaid, before the said Prior and Consuls for the time being, or that shall hereafter execute these offices, be it either for the rendering of account and satisfaction of part or of whole, or condemnations in penalties, or other condemnations for amends for trespasses, and of all other things that shall be requisite concerning and belonging to the trade of merchandise, according as they shall deserve, whereof We have permitted them, and do give them power to use the form, even as the said Conseruator at Lions, Prior and Consuls of Thoulouze, and other Our judges do. And to cause execution to be served on the offenders, either by arrest, attachment of goods, and sale thereof, or by imprisonment of the parties condemned, Prohibition to other judges. even as they shall think good, inhibiting all Our judges to presume to take knowledge of any matter or plea thereunto belonging; which Our command We will be notified unto them, and unto whom it shall appertain, by the first of Our Officers or Sergeants that shall be required, whom We enjoin to perform the same accordingly, to the intent that all those charges and extraordinary expenses, which Merchants may be put unto in following their suits against their Factors and dealers before many judges, might by these means be utterly avoided. Furthermore We have permitted, and do give authority to the said Prior and Consuls, Half of the forfeitures to the Prior etc. that all such penalties of moneys as by them shall be inflicted upon men for contempts or any other offences shall be forfeited, the one half to Us, the other half to the use of the said Common Place or Bourse of Rouen to supply the wants thereof: allowing them likewise absolute liberty and power to choose and constitute one Councillor, A Councillor and one Attorney. and one Attorney, who shall by all lawful means, labour the benefit and advancement of the said place, and shall defend the same, to direct their process and causes, as well before the said Prior and Consuls, as before all other judges. And to the end that the Merchants may assemble themselves, as well to consult of their common affairs, as to constitute the said Councillor and Attorney, without being subject to repair to Us or to Our judges for leave when need shall require; Therefore all such judgements as shall pass before the Prior and Consuls, being sealed with their Seals, and signed by a Register by them appointed, be it by imprisonment, sale, disposing of goods or otherwise, shall be held for real and lawful, being passed in manner aforesaid, without any constraint to have Our further commission or liking, even according as was permitted by Our most honourable Our Father the King, unto the Merchants of Our City of Lions by his letters Patents given in the month of February, Appeal to the Parliament. in the year of Our Lord 1535; reserving unto Our said Court of Parliament, at Our said City of Rouen for a last conclusion, and by appeal, the jurisdiction and knowledge of the said discords and differences. And to the end that all such appeals as shall proceed by reason of the judgements and sentences that shall be given and declared by the said Prior and Consuls, may be speedily and without delay ended in our said court, We have ordained, and do ordain, enjoin, and command all Our loving and trusty Precedents and Councillors (holding Our said court of Parliament) to declare to the said Merchants without delay one day in every week, such as they shall think convenient, to hear, determine, and dispatch the said appellations, by order of roll for that purpose ordained. justice with all expedition. And in regard of the process by writing, there shall be one other roll made a part, to the end that the said appeals may be ended in the same day, to avoid the prolonging of suits, to the ruin and consuming of the suitor. And to the end that the said place of meetings of the Merchants twice a day, may be quiet, and without disturbance, Our pleasure is, and We do straight command, that none of Our Sergeants and Officers presume to enter into the same place, No arrest to be made upon the Burse etc. not to make any arrest (for any cause) of any person whatsoever, during the time of those two accustomed hours of meeting. And if such arrest should be made during the said hours, We have declared heretofore, and do declare at this present, the same to be void and insufficient, charging all Our judges not to have any regard thereunto. And as We are informed, that the trade of Assurances is of late greatly advanced by the Merchants of the said city of Rouen, (a work so honourable that it doth even beautify and greatly advance the trade and commerce of the said city,) We (to the end those said policies of Assurances, and all other writings thereunto belonging may receive full vigour) have permitted, and do permit, that all Merchants frequenting the said place (both now and hereafter to come) to assemble themselves at all times when it shall be needful, to choose and nominate, according to the most voices, one Merchant amongst them (such a one as they shall think meet, being a man trusty and expert in the knowledge of the trade of Assurances) who shall make and register the said policies, A Register for Assurances. whereunto the Assurors shall set their hands, at all times hereafter in the said place and liberties of Rouen, when it shall please the Merchants; whose office shall likewise be to draw forth accounts of such arrearages as shall happen (being thereunto called) receiving for his pains and time spent about the business of the same Assurances, according as it shall be thought meet by the said Merchants, and keep a perfect and true Register of the same Assurances. To the which Register and Copies thereof, and all other Acts and Writings by him made, concerning matter of Assurances, and by him signed, We will and ordain, that all manner of credit shall be thereunto given, before all judges, and others to whom it shall appertain: without that any other person or persons shall have to do, or meddle in the said business of Assurances, or any thing thereunto belonging, unless he be before chosen and admitted thereunto by the said Prior and Consuls, and by the said Merchants as aforesaid. And We do command and give in charge to all persons holding Our courts of Parliament, great Consells, Admirals, vice-admirals, Stewards, and their deputies, and to all other judges and Officers whom it shall concern, that you do cause to be read, proclaimed, and registered this Our present Will, Declaration, Permission, and Ordinance, and the same to be observed and kept by all them accordingly, that the Merchants may use and enjoy the force and benefit thereof, plainly and peaceably without any contradiction. Moreover We do charge and command Our Attorney general, that he do with all diligence cause all these things to be plainly and truly executed, and that he do certify us of his diligence so done; for such is Our pleasure, for that of Our mere motion and power, We will have it done, and that notwithstanding any ordinance, customs, statutes, privileges, commandments, defences, or letters to the contrary, the which in this cause without doing prejudice to other causes, We have made void, and do make void. And for that men shall have occasion to use this Our grant in diverse places, Our pleasure is that credit shall be given to all such copies as shall be made by any Our loving and trusty Notaries and Sergeants, Secretaries, or under, in ample manner as to the original: and to this effect, We do give you full power, authority, and especial charge and commission, by these presents commanding all Our justices, Officers, and subjects, to obey you in this case. And to the end this may remain established for ever (Our own right in all other causes reserved) We have hereunto caused Our seal to be put. Given at Paris in the month of March, and in the year of Our Lord 1556, and the tenth year of Our reign: signed by the King then in Council, and sealed with green wax, with red and green silk lace. CHAP. XVII. Of the Laws of several Countries, whereby the Differences and Controversies of Merchants are determined. THe fourth and last mean to end the Differences and Controversies happening between Merchants and others in the course of traffic, are the imperial Laws, or the fundamental Laws of kingdoms and commonweals, where the Merchant's court of Prior and Consuls is not established, whereof the Merchants ought not to beignorant; so that in the description of them, it is convenient to make some declaration, for the Merchant's satisfaction, appertaining to their business and negotation. All laws are tending in substance to the upholding of truth, maintaining of justice, to defend the feeble from the mighty, Final end of the laws. for the suppressing of injuries, and to root out the wicked from amongst the good, prescribing how to live honestly, to hurt no man wilfully, and to render every man his due carefully, furthering what is right, and prohibiting what is wrong; summarily to be understood according to the saying of our saviour Christ. What you will have men to do unto you, do the same unto them. Mat. 7.21. Luke 6.31. Which Alexander Severus the Emperor, did express thus: That which you will not have done unto thee, do not unto others. And to this purpose, let us note three sorts of laws, namely: The law of Nature, whose virtue is alone, Law of Nature and the same every way in all, or rather a very notice of God's law ingraffed in the mind of man. The law of Nations, which consisteth of customs, manners, Law of Nations. and prescriptions, being of like condition to all people, as we have before declared. The Civil law, which is an abridgement, Civil Law. derogating many illicentious customs which grew by perverseness and corruptness of nature, and is termed Peculiar, used by one kind of people, called the the Imperial Law. Out of these was the common-law of England made, whereof we are now first to entreat, and therein to be somewhat prolix, for the better understanding of Merchants, the rather because the laws do bind all men to Knowledge, Obedience, The law bindeth all men to knowledge and obedience and Punishment: for indeed no man may break them, no man may be ignorant of them: and lastly, no man may judge of them, but according to them; and therefore it is said, that Iudex is taken à iudicio, non iudicium à judice: and more especially, because this book (as you may find) is more exactly calculated (as the Prognosticators say) for the Meridian of England, howbeit it may serve for all other countries and places of traffic and trade. Of the Common-Lawes of the realm of England. THe Common-Law of England is taken three manner of ways, viz. 1 As the Laws of the realm, dissevered from all other Laws; The treatise of Doctor and Student. which is the cause of the often arguing in the Laws, what matters ought of right to be determined by the Common-law, or what by the Admiralty court, or by the Spiritual court. 2 The Common-law is taken as the King's court of King's Bench, or Common pleas. 3 By the common-law is understood such things as were law, before any statute made in that point that is in question, whereby that point was holden for law, by the general and particular customs and maxims of the realm, or by the law of God, and the law of reason, whereunto the kings of England at their coronation, do take a solemn oath to observe the same, and all which the inhabitants of England successively ever observed, Five nations in England. namely Britain's, Romans, and then Britain's again, and than Saxons, Danes, and Normans. Commendation of the common law. Now whereas the Law-Merchant requireth brevity and expedition, all men of judgement will confess, that (having seen many devices, edicts, and ordinances, how to abridge process, and to find how long suits in law might be made shorter) they never perceived, found, nor read as yet, so just and so well devised a mean found out as this by any man in Europe, albeit that the shortness thereof is such, that if a man have many peremptory exceptions, peremptoriness of the common-law. which can make the state or issue of his cause, he shall be compelled to choose one exception whereupon to found his issue, which chosen, if he fail by the verdict of twelve men, he loseth his action and cause, and the rest can serve him for nothing. Antiquity of the common-law. Great is the antiquity of the common-law of England, and the trial of juries by twelve men: for we find the same to be from the time that the West Saxons had the rule and domination over the countries of Hamshire, Wilreshire, Dorsetshire, Somersetshire, and part of Glocestershire; and also the same law was used amongst the Saxons which ruled Marshland and Medland, that is to say, the countries of Lincoln, Northhampton, Rutland, Huntingdon, Bedford, Oxford, Buckingham, Cheshire, Derby, Nottingham, and part of the shires of Gloucester, Warwick, Hereford, and Shropshire, at such time when the land was divided into seven kingdoms, all of them being at that time inhabited with diverse nations, namely Picts, Scots, Danes, Normans, Vandals, and Germans; all which have continued the proceed of the law, until the time of William duke of Normandy who conquered the same. This William the Conqueror had the quiet possession of this land, and caused (amongst other laws) the Dane laws to be collected, which ruled in Devonshire and Cornwall, and a discreet view to be taken of sundry laws, whereunto he did add some of his Norman laws to govern the people of the land, now called England; in so much, that concerning the antiquity of the laws and customs aforesaid, they were long before used by the Saxons first government, Ann● 1198 aunt Christum. nay by the Britons themselves, which was one thousand one hundred ninety and eight years before the birth of our saviour Christ, being now in continuance above two thousand and eight hundred years; for king Alfred caused the laws of Marcia to be translated out of the Britain into the Saxon tongue: and after that we find that king Lucius and king Alfred caused the continuance thereof. The said Common Laws are properly to be taken to consist of the ancient Maxims of the said Laws, of the statute Laws & Book Cases, which are yearly observations upon manners, and may be called Responsa Prudentum, comprehending therein the Municipal Laws, Municipal Law, as gavelkind, etc. which is proper to all Kingdoms and Governments, as an exception to the fundamental Laws thereof; wherein many singular arguments drawn from Divinity and Humanity are effectual, though there be no books for it. For the principles which are taken from the Law of God and Nature, or Reason, are many more, than those which are of man, and given by the absolute discretion of the judge. And concerning the prudence of the Law, which holdeth this Maxim, That it is better to suffer a mischief, A Maxim in Law. than an inconvenience, attributing the word mischief unto one or some few men, and the word inconvenience to all persons, or the commonwealth in general. And here let us observe, That Of the Common Law of England, there may be made an Art or Science. Consider we, that Ars est causarum consideratio, Definition of Art. ex finibus assumptis: Art is the consideration of causes from certain ends propounded; according to which definition an orderly consideration must be taken of the causes, which cannot be without Art: For Art maketh nothing but of things already made, putting a dictinct determination, which is done with a reformed reason properly called Logic; which (as it is the instrument of all Sciences) so is it also the instrument of the Law: and although the Law be now infinite in Practice, yet is the same finite in Precepts. So that as, In infinitis omnia concurrunt, The Law being finite in her principles, may easily be compiled or incorporated; and experience teacheth, that it is easier to understand many principles well put together, than to put many principles well together, whereby a man may understand the Law, hearing the same delivered by a Lawyer; yet this may be done by wisemen. For we have our finite originals or elements, acts, persons, things, and their adjuncts, and concerning them, finite reasons, of which we do compound cases infinite; yet are all those cases decided according to the finite reasons of the finite elements. So hath the Physician finite simples, though he do make infinite compounds, yet are they all proved good or bad to that whereunto they are prepared, by reasons drawn from the finite simples. Now by the elements of the Law, Elements of the Law. we must understand matter and form, not as in things natural and compound, but Modo & forma, as they speak: so in all cases, there is matter of Law, matter of Fact, or both, and the twelve men or jurors, are only ordained to try the matter of Fact, for they are ignorant in the Law; so that if the question be of the Law, that is, if both parties do agree upon the Fact, and each do claim that by Law he ought to have it, and will still in that sort maintain their right, than it is called a Demurrer in Law, Demurrer in Law. which is determined by the judges: So that if all cases were reduced under these few titles, namely, Pleas of the Crown, of Right or Title of Land, of Debt, of Trespass, of Account, of Trover, and of the Case: Then might the matter of Fact be brought nakedly before the jury distinguished from the matter of the Law. For all Cases are either criminal or civil, Cases criminal, real, and personal. or criminal, real and personal, for life, honour, and goods or lands: and it is an easy matter to describe the nature of these and the like actions, the Law being singular in her distinctions, which would diminish the practices thereupon: whereas by the Civil Law the Fact is first examined by witnesses, Originals by the Civil law. indices, torments, and the like probations to find the truth thereof; and that done, the aduocats do dispute of the Law, to make of it what they can, saying, Ex facto, ius oritur, which is long and tedious. The pleading of general Issues, with addition of the words, Modo & forma, maketh the matter difficult many times, when the jury conceiveth that this meaneth some matter of Law, when it is only matter of Fact: the jurors therefore are principally to look whether the Issue and Evidence do concur, which they ought to follow. True it is there is sometimes matter of Law which altereth the Case, when there must be proved a lawful consideration of Quid pro quo, Nudum pactum what it is. otherwise it is Nudum Pactum ex quo non oritur Actio; wherefore I have seen some Pleas plainly distinguishing the matter: so that the jury might perceive the naked Issue of the Fact before them in question, with all the circumstances which is sometimes done by way of Replication. There is a Maxim or ground of the Law of England, That if the defendant or tenant in any action, plead a plea that amounteth not to the general Issue, that he shall be compelled to take the general Issue, The pleading of general Issues. and if he will not, he shall be condemned for lack of answer. The general Issue in Assize is, That he that is named the disseisor hath done no wrong, nor no disseisin: and in a Writ of Entry in the nature of Assize, the general Issue is, That he disseised him not; and in an action of Trespass, That he is not guilty, and so every action hath his general Issue assigned by the Law, and the party must of necessity, either take the general Issue, or plead some plea in the abatement of the Writ: and the cause why this is done, is because the matter of Law should not be put to the trial of the jury of twelve men. Mr. Fortescue saith, That the trial of twelve men is more indifferent than the trial before a judge, because it is an easy matter to find out two men among a number of men, that may be of the party's acquaintance, so void of charity and conscience, which for dread, love, or profit will be ready to gainsay all truth: and to this purpose he allegeth the example of the two witnesses against Susanna, according to which precedent the witnesses are to be examined asunder, and not in the hearing of one another, as is now accustomed. And if their oath touching the matter of Fact were recorded briefly, the Evidences would be more certain, for witnesses would be more careful, upon which the oath of the jury dependeth. If the action be local of lands or houses, Proceeding● of jurors. the jury is impanelled of men, from as near as may be to that County where the thing in controversy lieth; nevertheless the defendant may take exception against some of the jurors, albeit for little or no cause, and then others are taken in place, for there are twenty fore men warned, but twelve is sufficient, unless it be upon an Action Real, where twenty four must be empanelled. And the oath given to jurors is, That they shall deal justly and truly between party and party; but the witnesses are to speak the truth, the whole truth, and nothing but the truth, and so they take their oath. And to the end the proceed in Law should not be hindered, therefore if the jurors fall out not to be full in number, Decem Tales d● circumstantibus. than the Sheriffs may take Decem Tales de circumstantibus, and empanel them, that is, To take other persons of the standers by, which is done before the judge at the time of the Trial. When the jury have delivered up their verdict, Verdict, judgement, and Execution. if nothing be alleged in respite of judgement, than judgement is had of course; and also execution is awarded to be executed as the final end of Law. Nevertheless there are three means to dissolve the said judgement and execution, namely, By a Writ of Attaint, a Writ of Error, and an Audita Quaerela, which Writ is grounded upon Equity by Law and Conscience. The Writ of Attaint is not only tedious and thargeable, Writ of Attaint. but also never or seldom tried: for the same is brought by the party grieved, against the twelve men, and the party for whom the sentence is given. And whereas before commonly upon the first inquest, they be all Yeomen, or men of mean calling: now upon this Attaint must go twenty four Gentlemen of greater quality, and forty eight must be warned to appear; then there must in the Attaint no more evidence be brought in, but only that which was brought in and alleged before the first inquest, which not appearing of record is hard to be made a plain matter: again Gentlemen and others are loath to discredit their neighbours; yet if the matter be so apparent, that they must needs find them attainted; then means are found to defer the judgement, and it may be the parties shall be brought to an agreement, or at the least one of them that was of the attainted jurors will dye in the mean time, and then the Attaint ceaseth: yet in this case if the party be in prison which brought the Writ of Attaint, he may be bailed, as is in Natura Brevium. The Writ of Error is more easy, Writ of Error. and was heretofore usual to prolong suits in Law, before the Statute of jeofaile was made, meaning in good French I'ay failly. For every small Error, if it were but false Latin, would overthrew a Cause; but now it runneth into another extreme, for if the party grieved speaketh in arrest of judgement, and showeth some material Error, upon motion made, the adverse party may have it amended as often as Errors are opened: the Record therefore aught to be first removed, and not only by transcript be put into another Court, but the party is to plead thereunto, in nullo est erratum, and then the danger of opening Errors is passed, if there be no tricks used in amending of the Records under hand, wherein lieth a Cerciorare to satisfy the Court, where the Record is brought, namely, from the Common Pleas to the King's Bench Court, from the King's Bench to the Exchequer, which heretofore was done in Parliament: and therefore the party grieved and in prison of the King's Bench cannot be bailable upon a Writ of Error after judgement and execution, as he is upon a judgement of the Common Pleas, in the Court of King's Bench; for this Court of King's Bench, in regard of the Pleas of the Crown, challengeth some priority herein. The Writ of Audita Quaerela. The Writ of Audita Quaerela is granted out of the King's Bench Court, if the judgement do depend there, and returnable in the said Court, or else out of the Chancery returnable in the King's Bench: whereupon the Lord Chancellor taketh four bails in the vacation Time, before a Master of the Chancery, and the matter doth merely depend upon the bail. The suggestion of the Writ in matter of Law, is a later contract after judgement and execution; an escape in Law, if the prisoner be by the Gaoler permitted to go abroad without the King's Writ, or if he break prison, in which case the Gaoler is to pay the debt; or upon a payment made since the execution; also a wrong recovery by an executor, whom the Prerogative Court doth afterwards disavow. Such and the like suggestions are to be tried by another jury, upon evidence to be produced to prove the said allegation. A strict Law. This Common Law is so strict, that the Proverb is, Summum ius, summa iniuria: for example, If a man seized of lands in Fee, hath issue two sons, the eldest son goeth beyond the Seas, and because a common voice is that he is dead, the younger brother is taken for heite, the father died, the younger brother entered as heir, and alienateth the land with a warranty, and died without any heir of his body, and after the elder brother cometh again and claimeth the land as heir to his father: in this case by the Law, the eldest brother shall be barred by the warranty of the younger brother. Again, partners cannot sue each other by the Law: Partners cannot sue each other by the Law. if two men have a wood jointly, and the one selleth the wood, and keepeth all the money wholly to himself; in this case his fellow shall have no remedy against him by the Common Law: for as they when they took the wood jointly, put each other in trust, and were contented to occupy and deal together; so the Law suffereth them to order the profits thereof. The Law therefore is not complete without the Courts of Chancery or Equity, for the imperfection and rigour of it, are qualified thereby, called to be Aequum & Bonum, which may be considered in this case. Two strangers jointly did deliver in trust unto a widow woman a round sum of money, with condition not to deliver the same out of her hands, but when they both should demand the same: within a while after one of them cometh unto her, and doth assure her by good indices and probabilities that the other his companion is dead, and thereupon doth entreat her to deliver him the money; which she did, not suspecting any fraud, so the party went away with the money. Afterwards cometh the other (who was said to be dead) and demandeth the money of the woman, and understanding that she had paid the same unto the other, was much offended therewith, and caused her to be adjourned before the judge: The woman appearing did declare the matter according to the truth, showing how the other had deceived her, and she did wholly rely upon the integrity and justice of the judge. Example of Law and Equity. Here an Action of the case might have been brought against the woman by the law, and cause her to seek the party that had deceived her: but the judge tempering the rigour of the law, did give sentence, That the woman should pay the money unto the party, so as he brought his companion with him to demand the same, according to the covenant, they both jointly having reposed a trust in her. Here I call to mind the question which no judge could determine: A covetous Doctor at the Civil law would not instruct a young Student, unless he did pay him a great sum of money, whereunto the Student did condescend, conditionally that he should have the first cause (he took in hand) to go on his side: whereupon it fell out, that the cause between him and the said Doctor was the first cause, and so there could be no proceeding therein, the Student pleading the condition in bar. The court of Chancery is properly called a court of Conscience, because it reasoneth on the part of the complainant, by argument taken from the Law of Nature before mentioned, Quod tibi fieri non vis, alteri ne feceris: for in the Chancery every man is able by light of nature to foresee the end of his cause, and to give himself a reason thereof, and is therefore termed a Cause; whereas at the common-law the clients matter is termed a Case, Difference between Cause and Case. according to the word Casus, which is accedentall; for the party doth hardly know a reason why it is by law adjudged with or against him. The Chancery therefore upon Bill and Answer between the complainant and defendant, granteth an Injunction to stay the proceeding in the courts of common-law, until the equity of the cause be examined: and if there be no matter of equity found, Injunction of the Chancery. than the cause is dismissed to the law again, with costs to the party. Merchant's causes are properly to be determined by the Chancery, and aught to be done with great expedition: but it falleth out otherwise, because they are by commissions commonly referred to Merchants, to make report of the state thereof unto the Lord Chancellor; ●or the customs of Merchants are preserved chiefly by the said court, and above all things Merchants affairs in controversy ought with all brevity to be determined, to avoid interruption of traffic, which is the cause, Staple Laws. 27. E. 3. that the Mayor of the Staple is authorised by several Acts of parliament to end the same, and detain the same before him, without any dismission at the common-law which showeth the necessariness of the Office of Prior and Consuls before mentioned. The rather, for that the trial of an Action of Account at the common-law is tedious. There are five manner of persons accountable by the law, namely, a Steward or bailiff, a Factor or Servant, or a Receiver. Upon an Action of Account the general issue to be pleaded thereunto is Ne uncques Receiver pour account render: The trial of an Action of Account by law. this is first tried by a jury, and if the party be convicted, and found accountable, than the law doth appoint Auditors to take the account, by a commission directed out of the court to Merchants and others, according to the nature of the cause, whereunto two Attorneys of the court are joined. And when they have taken the account, and find wherein the differences do consist, than they are to certify all their proceed into the court, and the accountant must make issuable answers to be pleaded, whereupon eight, ten, twelve, or more issues shall be made, and then a second jury is called to try all these several issues upon peremptory points, and so upon every issue there is given a particular verdict, and sometimes an especial verdict, which is to be determined by the court again. All these long proceed make long records, subject to many errors: and because all these several issues are tried by one jury, and upon one record, together with the former proceed, whereby the other jury found the party accountable, if in any, or in the whole, material error be found, than all is overthrown, and the parties are to begin again de novo. And it may fall out, that then they will join other issues, and so run into a Labyrinth, so that matters of account are properly to be determined of the Chancery: and it were to be wished, that therein more expedition were used, according to the laws of Arragon, which concur with the course of the said court, as we are now to declare; leaving all other cases triable by the common-law, according to their proper natures, as the trial of an Action Real, which is done with solemnity, and the like, to abbreviate things. Of the Laws of the Kingdom of Arragon. THe Laws of Arragon being peculiar to that kingdom, have especial days or times limited to every particular proceed of the process, whereby the same is divided into ten (as it were) terms, which have every one their proper observations, which the complainant must observe, and prosecute accordingly with expedition, as followeth. 1 When the party complainant calleth the defendant. 2 When they do appear before the judge. 3 The defendant may allege certain exceptions. 4 Due answer is made to the complainants' bill. 5 The examinations of the parties, and their proceed. 6 Witnesses are produced, examined, and publication had of their depositions. 7 The parties do reason of the depositions, and the matter is brought to hearing. 8 When the judge giveth sentence or judgement. 9 When execution is had upon the sentence, or the party appealeth. 10 When the cause departeth out of that judge's power before a higher authority. And all this is commonly done in four months, Observations of the proceed of the law of Arragon. with the observations by the law required, namely the considerations incident, which are worthy to be noted to prevent unjust dealings. 1 Touching the first time, the judge taketh not any notice thereof; for the process is granted of course, unless it appear that the complainant hath been the slave of the defendant, or the son do commence a suit against the father, or the servant against his master, wherein (upon good consideration) licence must be had of the judge. 2 The second, That they must appear before the judge at three several times of ten days, or thirty days at any one time, which is peremptory; after which, there lieth a contempt against the party not appearing: during which time, the judge doth proceed according to the nature of the action, and the Maxims of the Law, which are compiled together to judge by, and serve him for his direction; but in extraordinary causes his conscience leadeth him. 3 The third time, touching exceptions, is not only between party and party, but also against the judge for insufficiency of authority given him, if the cause so require. 4 The fourth time, three things are to be observed upon the defendants answer. 1 Whether he denied all, or did confess part or all. 2 Whether it be requisite that the judge judicially hear the cause, or else (according to the defendants answer and confession) judge him to pay or satisfy the matter within nine days. 3 That after the contestation of the suit, there be no matter of any dilatory exceptions alleged to hinder the proceed, but rather peremptory exceptions, to bring the matter to a definative sentence. 5 The fifth time, four things are to be observed, namely, 1 The complainant must swear, that he is persuaded that he demandeth a just and right demand; and the defendant likewise, that he defendeth his right. 2 That they shall speak truth to that which shall be demanded of them. 3 That they shall not require (without just cause) any time of prolongation. 4 That they have not, nor will attempt to corrupt witnesses. 6 The sixth time, upon the contestation and interlocutory sentence, you must observe nine things. 1 That the witnesses be presented in presence of the party against whom they are produced. 2 That they be freemen and honest, and not hired nor corrupted. 3 That they be sworn, and the producent payeth his charges. 4 You may inquire of the party that doth produce the witnesses, as also of the witnesses by certain articles, what may appertain to the cause, in regard of their admittance for to be sworn, because their deposition is the ground of the matter. 5 That the plaintiff having had three several times to produce his witnesses, shall not have any other time to examine any more, unless he do swear, that he knoweth not what the former witnesses have deposed, and the judge do assent thereunto. 6 If the witnesses have declared any thing obscurely, they may declare the same more plainly, if the judge do desire the same at the entreaty of the party, according as he shall direct. 7 After publication of the witnesses depositions, there may not any other witnesses be deposed upon the said interrogatories, or any matter touching the same. 8 That the witnesses be examined of the time, of the place, and of the case itself, whether they have seen or heard the same, & what they believe or know thereof, or of the report they have heard. 9 That (to avoid charges) there be not too many examined. A Maximo of the Law of Arragon. The seventh time is, when all must be alleged which may any manner of ways make for the state of the cause, and if it fall out that two witnesses tell one tale (as it were) verbatim, their evidence is void; and the eight time the judge proceedeth to a definitive sentence; and the ninth time (which must be done within ten days) the party may appeal, and thereupon for the tenth time, the pleyto or suit, with all the records, goeth out of that judge's court to a higher court, where it may not depend above a limited time. The observations do minister an occasion, that many controversies are ended without law, for the parties are not sure to observe these times, and the defendants which seek delays are not contented with so short a time of pleading: the complainant also may know whether it be safe for him to take his oath as aforesaid, that he is in conscience persuaded of his right; To abridge the multiplicities of suits. and morever paying a fine for wrong molestation, abridged (with them heretofore) the multiplicities of suits. Omitting now to speak of other courts of equity, and calling law and Equity to be the Common Law, so much commended above the Civil Law, by the said Mr. Fortescue, sometimes Lord chief justice of the King's Bench in the time of King Henry the sixth, who hath observed five points wherein the same consisteth; let us observe many more to extol the excellency of the said Common Law, as followeth summarily. 1 First, because of the antiquity thereof, Excellency of the Common Law of England. for that in all the times that the Realm was inhabited by five several nations, the same was still ruled by the said Customs that it is now governed withal; which if they had not been good, some of the Kings of these several nations, moved either with justice, or with reason and affection, would have changed or abolished the same, especially the Romans who judged all the world. 2 Secondly, for that the Kings of England at their Coronation do take a solemn oath, to cause all the Customs of the Realm to be faithfully observed according to the former institution. 3 For that the said ancient Customs or Maxims thereof are inexpugnable, and do stand of their own authority as Principles, which need no reason to confirm their authority, as the Laws of Solon, Draco, Carondas, Lycurgus, Numa Pompilius, and the Law of twelve Tables, etc. 4 Because all differences and controversies, which happen between the King and his subjects are tried and determined by the Law; and if it be done in Parliament; or by the judges, it is still according to the Law. 5 Because the King personally giveth not any judgement, especially when himself is a party, seeing it is against the Law of Nature to be both judge and party. 6 For that notwithstanding the decease of the Kings of England from time to time, the judges of the Courts of Record, that is to say of the Chancery, of the King's Bench, of the Common Pleas, which do sit as judges by the King's Letters Patents do remain authorised, and their power ended not immediately with the King; howbeit the succeeding Kings do confirm them in their offices, whereby all seditions are prevented during the inter Regnum. 7 For that with indifferency, without regard of persons, it commandeth as well the Nobility and other persons of dignity by way of utlagare or outlaw as the meanest subjects. 8 For exercising a power over the judges, which are not to judge of the Law, but by the Law: and therefore is the word judicium properly attributed to their determinations; even as the word Decretum is understood of the ordinances or sentences of the Magistrates, following equity (as it were) without Law. For there is the like proportion between the Law and the execution thereof, called Legis Actio, as there is between Equity and the duty of a Magistrate called judicis Officium. 9 For that the officers thereof are authorised according to the quality and due execution of it, by a proportionable distribution, namely, The judges for term of life, and officers subaltern changing from year to year, to the end the administration of justice may be more indifferent. 10 For the diversity of the trial thereof in several Courts, according to Law and Equity, is the cause of an agreeing and most necessary discord, as it were, Concordi Discordia, whereby the body of justice is supported by striving, as the stones upholding a vault, as Cato saith. 11 For that the judges in criminal causes do change from time to time their circuits, and inferior judges of the Court do execute the place as well as superior judges, whereby partiality is prevented. 12 For that the Law tendeth most carefully for the good and preservation of life and goods of every good and honest man; seeing that even in criminal causes, it hath provided (as much as may stand with justice) a help and favour, permitting the judges to order the pleading of offenders and to instruct them to avoid mispleading, and giving them leave to except against the jurors, which they dislike. 13 For that it doth forbid the sale of offices, thereby intending due administration of justice; for where offices are sold (as it were) by the Great, there justice is commonly sold by Retail. 14 Because the same is most agreeable with the nature and disposition of the people, and the quality of the country, which by reason of the fertility, affordeth very convenient means for the trial thereof by juries of twelve men, the nature of the people being gentle. 15 Because men are to reduce the state or issue of their cause upon one peremptory exception to be tried by the verdict of twelve men, whereby matters are determined with expedition. 16 For that it commandeth not any thing, but what is honest, reasonable, and possible in itself, and all impossibilities are excluded thereby. 17 For that thereof may be made an Art or Science in manner before declared, seeing the same is finite in her Precepts, according to the old Maxims or Principles, whereunto every thing being reduced and explained, as aforesaid, all ambiguities and dark sentences would be taken away, and the judges should easily give a clear understanding thereof, according to the order of Solon, who made the Arropagits of Athens to be as Guardians of the Law. 18 For that the trial thereof by a jury of twelve men upon one point peremptorily or in certainty is brief and substantial, because the witnesses which are produced before them (by whose evidence the state of the cause is made) must be approved by the verdict of twelve men, as aforesaid. 19 For that the matter of Fact is distinguished from the matter of Law, and is accordingly decided either by the jury, upon the matter of Fact, or by the judges upon Demurrer or otherwise upon the matter of Law. 20 For the indifferency of the trial of controversies and questions between the native subjects and aliens for they may have their trials Per medietatem linguae, that is to say, half the jury of strangers and the other half of English subjects, to avoid partiality. 21 For that the Sergeants and Councillors at the Law are to give counsel, and to help the poor, which are not able to prosecute Law at their own charges, which they do in forma pauperis by direction of the Lord Chancellor, and the Lords chief justices of the King's Bench and Common Pleas. 22 Finally, the Common Law is excellent for having fewer faults and imperfections, than any other Law, being most sufficient to uphold the commonwealth in quietness. Thus the Common Law of England, hath like a Queen a Predominant power, from whence proceedeth mutual love and sure amity from the Prince to the subjects; and from the subjects again due obedience to the Prince in a most pleasant harmony and concord, deserving the name of a Law received, published and recorded, without any reason to be rendered for the same (as it were) Lex cum Prologo, wherewith Seneca found fault when he said jubeat lex, non suadeat. And as the Law is derived à ligare to bind, so is the whole State of the Commonwealth bound to the head, and may be made easier in practice: For as the sa●d Seneca saith, Nil est quod pertinax opera, & diligens cura, non expugnat. Of the Laws of the Kingdom of France. THe Laws of France are either written or customary, and according to this division the country is divided. Acquitanie, and a part of Celtica next unto it, is called Pays de Droict escript, because the Civil Law of the Romans ●● there in force: Written Law. the reason whereof is thought to be, because the Romans did continue long in those parts after the Frankes had made a thorough conquest of the other. Belgica and the other part of Celtica is called Coustumier, because for the most part they are governed by their ancient customs, Ancient Customs. which amongst them have the force of Laws: howbeit neither the Civil Law, nor the customary are further in force than they are agreeable with the Edicts of the King. Under the Law written are comprehended, The Civil Law. The King's Edicts and Ordinances made by advice either of the privy Council, or of the three estates, and The Arrests or Ordinances of the Courts of Parliament. In the erections of their universities of Law, the King expressly declareth, That they are not bound to the Civil Law, neither receive it for further use than to draw instructions of good government and reason from it, as appeareth in the Charter at Orleans, by Philip le Bell, Anno 1312, wherein he showeth that this Realm is governed by Custom, and not by the Civil Law; except in some Provinces, which the Kings have permitted in some cases so to do, not as bound, but as willing to continue the Law which their subjects of ancient time have used. So that the Civil Law generally is not in force, but only for direction and form of pleading and proceeding in the order of the process: and where it is most in force the Courts of Parliament have authority to construe and interpret it, as they think good. Of all the written Laws in France, the Ordinances and Edicts of the King are most in force; insomuch as they are acknowledged for the only Laws, and all other have their life from them, and are so fare forth available as they are strengthened by them. The arrests of the Courts of Parliament are of great authority, being pronounced in the name of the King, and are as Laws to be followed in all cases. In like manner their Ordinances are to be followed only during the time that the King provideth, not otherwise, and in their own circuit only; for they have not authority to make Laws general and perpetual. The Customs which diverse Provinces claim, are of late years drawn into writings and published in print, for the more easy understanding of them, and the avoiding of confusion; so that now all the Laws of France may be said to be written Laws: this was begun in the time of Charles the seventh, Anno 1453, and ordered also in the time of Henry the third, Anno 1579. Subsidies and jmpositions. This manner of government causeth subsidies and jmpositions to be made as revenues of the Crown by the King's authority; which were at the first granted by the three estates, upon urgent necessity of the affairs of the Realm only, Clergy, Nobility, and Com●ina●le. but now they are grown to be ordinary. Charles the seventh was the first that made them ordinary for the payment of soldiers. Francis the first, and Henry the second did the like. Personal subsidies are taken by the pole, whereof Ecclesiastical men, Noblemen, and Officers of the King, Queen, and children are exempted. Real or patrimonial subsidies are levied by lands in some provinces, as Languedoc and Provence, whereof no persons are exempted. Mixed subsidies are levied of the yeomandrie, and some persons of means. The greatest imposition is upon Wines, now fifteen sou upon every mew. And upon Salt, appointed by Philip de Valois, Magazines of salt. called Magazines or Gremers for salt, forbidding Merchants to traffic for it, setting a rate of four deniers upon every pound of salt. Francis the first made the same perpetual, as the domaines of the crown; and all men are compelled to buy it at the Magazines, upon pain of punishment. This impost is let to farm for two millions of crowns, or six hundred thousand pound sterling yearly. The right of the sea belongeth to the King, and he may lay impositions thirty leagues from the land into the sea, if no other sovereign prince be not within that precinct. There are eight courts of Parliament in France, and eight chambers of account. At Paris erected 1302 by Philip le Bell. At Paris. Courts of parlements. At Tholouze also, and confirmed by Charles the 7. In Britain. At Grenoble 1453 by Lewis the 11. At Dion. Courts of accounts. At Bourdeaux 1462, by Lewis the 11. At Monpellier. At Aix 1501, by Lewis the 12. In Dolphin. At Dion 1476, by Lewis the 11, for Burgundy. In Provence. At Rouen 1449, by Lewis the 12 for Normandy. At Blois. At Rheames 1553, by H. the 2, for Britainie. At Rouen. Of the Salic Law of France. IT is an usual received opinion, that Pharamont was the author of this law: others think it was so called of the Gauls, that were called Salie, amongst whom that law was established; for the ancient Gauls termed all their laws either Ripuarie or Salic, and in the time of Charlemagne they were called Saliques. Nevertheless it is thought to have been invented of latter time, as by Philip le Long, to frustrate the daughters of Lewis Huttin, or else to have had the first strength from an usual custom of all Barbarians, which was never to suffer the females to inherit the crown: and so being begun in the first and second line of the kings, it hath continued in the third, and by custom it is rather confirmed, than to be proved to be a law at any time ordained, having been little account made thereof, until the controversies between Philip le Long and Ends duke of Burgundy, who claimed it for his niece jane, daughter to Lewis Huttin, and Philip de Valois with Edward king of England. The book of the Salic laws is but a collection, howbeit, there is no example ever heard of, that any woman governed. Of the laws of the higher and low Germany, concurring with the Civil Law and the Courts of Equity in substance. THe courts of Equity beyond the seas, after bill and answer, replication and rejoinder, and sometimes duplication, and at last conclusion, with the examination of witnesses in serious manner; The whole proceed are delivered to certain Doctors or learned men which are as masters of the Chancery, or belonging to certain Universities) to be abreviated, which is called ad rotulandum, who do cut off all superfluous things which upon the matter are confessed on both sides, To abbreviate long process. or are not material to the state of the cause, to bring the differences between the parties to certain points or heads, whereupon the said parties (with the advice of the advocates or learned counsel) do dispute and debate the said differences to bring them (as it were) ripe and perfected before the judge. For if the defendant will take (covertly) any exceptions against the judge of that jurisdiction, he may have the whole process made up in the name of A.B. and C.D. as it were complainant and defendant, without naming either of the parties, and the same to be sent under the town seal unto Doctors, or other learned men of Universities, elected thereunto in other jurisdictions, which do give their sentence or judgement thereupon, and return the same back again under seal, before the judge where the cause was depending; who calling both parties before him, demandeth of them, whether he shall open the process, and whether they will stand to the judgement therein contained? and if the complainant descend thereunto, then is the defendant thereby concluded, seeing he had his choice, and did (in a manner) appeal from the judge, whereupon execution is presently had, and matters are ended with expedition. By the premises we may observe, how other laws are variable, and subject to alteration, and that the Law-Merchant is constant and permanent in her customs, which therefore are not to be infringed, but seriously to be maintained by all the four precedent means, or some selected course of execution to be devised, concurring with the same. For the better furtherance whereof, and more exact explanation, by contraries, I have for a Corrollarie of this work added hereunto three Paradoxes alluding to the said three Essential parts of Traffic, which will illustrate the most material consideration to be had in the course of Traffic and Trade. CHAP. XVIII. Three Paradoxes alluding to the three Essential parts of Traffic. Having heretofore published a Treatise entitled England's view in the unmasking of two Paradoxes, which had been presented unto the French King Henry the fourth, as a matter of great consequence, and considerable in the government of commonweals; and finding that the true understanding of them (with a third Paradox observed by me) did properly allude to the contents of this book, or the three Essential parts of Traffic, namely Commodities, Money, and Exchange for Money, I did resolve to handle the substance of them for a Corrollarie of the same, Paradox, what it is. the rather because Paradoxes are things contrary to the vulgar opinion, and will also make all the premises more manifest and apparent by their conclusion. The said two Paradoxes presented by Monsieur Malestroit one of the officers of the Finances or Treasury in France, were as followeth, saying, 1 That to complain of the general dearth of all things in France was without cause, Commodities. for there was nothing grown dear these three hundreth years. 2 That there is much to be lost upon a crown, Money and or any other money of gold and silver, albeit one do give the same in payment at the price he did receive the same. The third Paradox which I have added hereunto, is, 3 That the imaginary moneys supposed in Exchanges for money, Exchange. made by Bills of Exchanges, do overrule the course and property of Real and Substantial moneys in specie. Monsieur Malestroit saith, that since the ancient permutation hath been changed in buying and selling, and that the first riches of men (which consisted of cattles) was transferred to the gold and silver, whereby all things have received their estimation; Gold and Silver are the judges of good cheap or dearth. it followeth that those metals are the right judges of good cheap or dearth of all things. We cannot say that any thing is dearer than it was three hundred years ago, unless that for the buying thereof we must now give more Gold and Silver than we did then: But for the buying of all things, we do not give now more Gold or Silver than we did then; therefore (sayeth he) nothing is grown dearer in France since that time. To prove this, he doth allege, That during the reign of King Philip de Valois, in the year 1328, the French crown of the flowerdeluce (as good in weight and fineness as the French crown of the Sun now) was then worth but twenty sou tournois, commonly accounted to be two shillings sterling. In those days (sayeth he) the French elle or yard of Velvet was worth four livers, which is four crowns, or eight shillings sterling: the said elle of Velvet doth now cost ten livers, or twenty shillings, and the French crown which was then valued at two shillings, is now valued at fifty sou, or five shillings; so that four crowns do make the said twenty shillings, yet the said French crowns do not contain more gold in weight or fineness than before; and consequently the velvet is not now dearer than it was then. The gentleman that hath now five hundreth livers by the year to spend, hath no more than he that had one hundreth livers to spend in those days: and in like manner he proceedeth for Corn, Wine, and other commodities, and thereupon concluded, That the dearth of all things, is but imaginary, and a vain opinion to conceive that things should be dearer now than in those days. The second Paradox. THere is much to be lost upon a Crown, or any other money, although the same be given in payment at the price it was received. This (sayeth Monsieur Malestroit) is an old and common error, rooted in the judgement of most men, that are far from the mark and without their reckoning, as he will manifest in the former terms. In the aforesaid time of King Philip de Valois, the French crown aforesaid was worth but twenty sou, which is now currant for fifty sou. The gentleman that had fifty sou rend or income, did receive for it two crowns and ahalfe, or so much in silver accordingly; for which two crowns and a half he had half a yard and half a quarter of velvet, after the rate of four livers the yard, which was the price of velvet then: now for this fifty sou the gentleman doth receive but one crown, or so much of silver money, and for that one crown now he can buy but one quarter of a yard of velvet after the rate of ten livers that velvet is now worth, whereas before he had half a yard and half a quarter, although he have given the same in payment for fifty Sols, which is the price for which he received the said Crown; and so proceedeth with other the like examples in the buying of commodities with silver coin, or in the receiving of rents or incomes, adding further thereunto, that if any man will object and say, I care not what the crown, liver or sou is worth, so as I having a hundreth livers of rent paid me, and that I can pay out again the said hundreth livers. This man (saith he) must then make proof that he can have now as much ware for two sou, as he could have had in times passed for two sou which were of fine silver, and now almost of copper, and in doing so he should make a third Paradox more strange than the former: for he should go about to prove every thing to be become better cheap, which cannot be proved. The substance and intention of these two Paradoxes is (saith he) to show that the King and his subjects do buy all things as dear as in times past, for that they must give as great a quantity of gold and silver as in times past: but by the enhancing of the price of the moneys of gold (from whence of necessity proceedeth the abating of the silver moneys; enhancing of gold abateth the silver, in regard of proportion between them. ) the King doth not receive in payment of his revenues, such a quantity of gold and silver, as his predecessors. In like manner, noblemans and Gentlemen that have great revenues and incombes, do not receive such a quantity of gold and silver as in times past, but are paid (as the King is) in copper in lieu of gold and silver. For which copper, according to the second Paradox, they cannot have so much wares, as they might have for the like quantity of gold and silver: so that the loss which we have by the growing dear of all things cometh not by giving more, but by receiving less quantity of gold and silver than before; whereby we see manifestly that the more we do enhance the price of money, the more we lose. Monsieur Bodine, the famous and learned Politician, The great French Politician. took upon him to make an answer unto those two Paradoxes, being of another opinion, and setteth down other causes of the dearth of things, which are five in number, namely; 1 The principal and almost only cause: The abundance of gold and silver, now extant in the Kingdom more than in times past. 2 The Monopolies. 3 The Want of things causeth by excessive Trade and waste thereof. 4 The Pleasure of Princes that advance the price of things. 5 The alteration of the Valuation of Moneys. To prove the first case and principal, he allegeth diverse examples: Plutarch and Pliny do witness, Examples of great wealth, that Paulus Aemilius after the conquest of Macedon against the Persians, did bring such abundance of gold and silver to Rome, that the people were freed of all Imposts, and the price of lands advanced unto two third parts suddenly. The Emperor Augustus brought such great treasure from Egypt, that the price of usury did decrease, and lands became much dearer: and the like at jerusalem by the coming of the Queen of Candace: and in the West Indies by the Spaniards conquest there: and hereunto he maketh a comparison of the want of moneys in times past, The French King john in England, etc. for the payment of the ransom of Princes taken prisoners in those days, and the means of the increase of wealth by the discovery of the West Indies; the propagation of the people in France, their trade for Turkey and Barbary, their Bank at Lions, and other accidents. Concerning the second cause of Monopolies, he doth pass over the same as a matter not considerable, and doth limit Monopolies only to the combination of Merchants and Artificers, in the setting of a price to commodities, or their handy work by augmenting their wages. Touching the third cause of the dearth of things, by the want or waste of them, he observeth some especial things; that corn and wine are better cheap during the time of war, than peace: because the Husbandman is driven to sell and to make money of his wares, and the Gentleman finding the same perishable, when the Merchant dare not lad his ships, doth abate the price of commodities, and maketh the people to live good cheap; which according to the Proverb (France can never be famished) would always continue, The Fertility of France. if by the means of the stranger their storehouses were not emptied. Concerning the fourth cause of the pleasure of Princes, imposing a price upon commodities, which they do affect: Plato saith, That it is a general rule in State matters, That Princes do not only give Laws unto their subjects, but also by their example they do change the manners of men: The example of Princes, doth change the manners of men. to which purpose he doth use the example of their King Francis the first, who being hurt in the head, caused his hair to be cut off, wherein the people did presently imitate him: We have seen (saith he) three great Princes striving, (as it were) who should have the most learned men and best artificers, namely, the said great King Francis the first, Henry the 8 King of England, and Pope Paul the third, insomuch that the King of England could never have the learned and reverend Beda; and the French King, did pay seventy two thousand Crowns for a Diamond, rather than King Henry should have had it. Hereupon presently the people did give themselves to study and to buy precious stones, when the Nobility did imitate the King: and when the King gave over the same, the price of them was much abated. If any man should here object (saith Monsieur Bodin) that if things should still become dearer, partly through the waste, and partly for the abundance of gold and silver, no man should be able to live because of the dearth of things. It is true, but the wars and calamities happening to a Commonwealth, do stay the course of it, as we may note, that the Romans have lived with scarcity, and to speak properly in want and misery almost five hundreth years, when they had but copper moneys of a pound weight, Copper moneys of one pound weight. and without stamp: for their gold and silver came unto them in one hundreth and twenty years by the spoil of all the world, which was brought to Rome by the Scipions, Paul Emilyus, Marius, Sylla, Lucullus, Pompey, and Caesar, especially by the two last: for Pompey did conquer so much land, Great wealth of the Romans. as made the revenue of the Empire to be eight millions and a half of Crowns. Caesar notwithstanding all his prodigalities, brought to the treasury forty millions of Crowns, having given at one time unto Paul, Consul, 900 thousand Crowns to hold silence; and unto Curion, Tribune, 1500 thousand Crowns to take his part. Mark Anthony went further, as Plutarch and Appian have written, for he gave unto his army for their service done 200 thousand Talents, being 120 millions of Crowns: so did Adrian the Emperor to have the good will of forty Legions give ten millions, whereby appeareth great abundance of gold and silver to have been at Rome, but it did not last ever: for in less than three hundreth years the Parths, Goths, Hercules, Hongres and other cruel Nations did overcome the Empire and all Italy, and overcame the Romans, burned their City and took the spoil of them. The like doth happen unto all Commonweals to wax and increase by little and little, and to flourish for a time in wealth and power, The property of Commonweals. and afterwards to grow old and decline, until they be utterly ruinated and destroyed. Touching the last cause of the dearth of things by the alteration of money, he showeth how Monsieur Malestroit hath mistaken the matter in the moneys themselves made within three hundreth years. For whereas he saith, That Saint Lewis caused the first sols to be coined, worth twelve deniers, whereof sixty four pieces went to the mark weight of eight ounces; and that in Philip de Valois his time, the Crown of the Flower de Luce without number, and as good as the Crowns now, was valued but at twenty sols, and that afterwards King john caused the Frankes to be made of sine gold, which were but valued twenty sols, and that the sols of silver was worth five of our sols: he doth not say of what weight and fineness the moneys were in those days, and in conclusion he saith, That the price of things is not altered by the Valuation of moneys. But if Monsieur Bodine (according to his wisdom and deep judgement in other matters) had duly considered of these two Paradoxes, he would have made a direct answer thereunto before he would have proceeded in his former discourse. The first Paradox being considered with the second, will show a manifest contradiction or contrariety: The contratierie of the Paradoxes. for the first doth consist in giving of more gold and silver for commodities now, than in times past, which he denieth: and the second, in receiving less commodities for the gold and silver now, than in times past, which he affirmeth; which both ways is to be taken in nature of commutation. Now if we do not give more quantity of gold and silver for commodities than in times past; how can we receive less commodities for the gold and silver, and thereby receive a loss, as in the second Paradox is alleged? Again, if we do receive less quantity of commodities for gold and silver than in times past, according to the second Paradox, whereby we sustain a loss; how can the first Paradox be true, That nothing is grown dear, for that we give no more quantity of gold and silver than in times past, commodities and moneys lying by this comparison in an equal balance? But let us admit, that Monsieur Malestroit had an intention, which he might have expressed in few words, if he had the true ground, and understood the matter he went about, by proving only that when moneys do alter in weight, or in fineness, or in valuation, Causes of the denomination of moneys, etc. or in all three, the price of things doth alter only by denomination, if the valuation be made accordingly: yet Monsieur Bodine had not made a good interpretation of the said Paradoxes, and mistook the true ground of the matter in question touching the prices of commodities, which he compared within themselves in the Realm of France, whereas the comparison ought to be of the enhancing of the price of the commodities of one country, with the price of the commodities of other countries, and thereby find out, whether things are grown dear with us or with them in effect. So that they both mistaking their grounds, we have showed in the said Treatise, That they (having lost Ariadne her line, wherewith they entered into the labyrinth of moneys and their properties before declared) are like unto a man who having lost his way amongst the woods, the further he goeth, the more he erreth from the right way. To entreat therefore of commodities and money, in the course of traffic between Kingdoms and Commonweals is not sufficient: but the exchange of moneys, being the public measure between them must be regarded, as the principal and overruling part thereof. For if a man should frame a syllogism in manner following, he shall find the same full of fallacies and misprision, nay a very Dilemma. Nothing causeth Merchants to export more money out of the Realm than they bring in, but only the bringing in of more commodities into the Realm than they carried out; The underualuation of our moneys, causeth no more commodities to be brought into the Realm than is carried out; The maintenance of Free Trade. Ergo, The underualuation of our moneys, causeth not more money to be carried out of the Realm than is brought in, as is declared in our last Treatise to hinder the enhancing of our moneys, which by the Treatise of free Trade (lately published) was insisted upon. We do also find, that in the year 1577, Monsieur Garrault one of the French Kings Council did exhibit two Paradoxes concerning moneys, which may (in regard of the former) seem more paradoxical or strange, nor only to the vulgar opinion, but also to the judgement of the wiser. The first is an assertion, That moneys have not changed their values. The other, That by the inhancing of the coin, or the price of moneys, To other Paradoxes. the price of commodities becometh abated and good cheap; and that by the reduction and abatement of moneys every thing becometh dearer. And for as much, sayeth he, that the matter of money is full of problems, and may be disputed on both parts, his desire is, that some gentle spirit might be stirred up to discourse of the reasons which may be alleged. Touching the first, That the value of moneys is not changed, (omitting to speak of the Cycle of the Hebrews, the Staters of the Persians and Greeks, & the As or Denier of the Romans,) he sayeth, That K. Lewis 11 did reduce the disorder of moneys unto their former estate of K. saint Lewis, when the Denier of gold was esteemed (in weight) unto 12 deniers of silver, which is properly to be called the proportion between the gold & silver heretofore noted: and hereupon he showeth how the said proportion hath been altered; yet so, that the silver was always made correspondent to the gold, and when the gold either in the mark weight of 8 ounces, was enhanced, & consequently in the pieces or coins; the silver was likewise enhanced proportionably, observing the said 12 to 1, or sometimes thereabouts, either a little over or under; and this caused him to say, That moneys had not changed their values, it being only a comparison made between the gold & silver, which is by weight, and not by valuation, to be applied unto every piece of coin, especially to the French crown of the flouredeluce or sun; and the piece of silver called Douzaine, alluding to the said 11 to 1, and the application thereof unto the price of commodities is more absurd. The weight of 12 of silver to 1 of gold maketh not the valuation of the mark weight of gold and silver, much less the valuation of the pieces coined of the said mark, whereby we see how one distinction is able to dispel and disperse the foggy mysteries of deceitful fallacies, as th● Sun drives away the wind and the clouds, heretofore by me observed. Concerning the second Paradox, he saith, That many are of opinion, that the inhancing and augmentation of the price of moneys engendereth a dearness of all things, quia su● praeciarerum: And that even as, pro imminutione quae in aestimatione solidi forte tractatur, omnium quoque praecia rerum decrescere oportet, pari ratione, si quod tractatur incrementum quoque & praecia rerum crescere debent, Which opinion (sayeth he) is grounded upon the politic rule, That the value of moneys giveth estimation unto all things, which is not ordinarily observed: for Princes and Magistrates are many times constrained to endure the incommodities of the time, by their prudence and understanding; so that all laws are not observed, by consequence following each other, whereby it cometh to pass, that the price of wares followeth not the price of moneys, but the common custom; for money was made to no other end, but to maintain and continue the trade of merchandise, by means whereof the commodities and necessaries are brought from one place to another to avoid the ancient painful and troublesome permutation: which traffic is twofold, namely, within the realm, and in foreign countries: within the realm the money is more commodious than necessary, but for the stranger most necessary, and therefore must be of a fine substance, as Gold and Silver, to be enclosed in a small room, to transport great matters from one place unto another. And if we will merely consider of this substance and effect of strange negotiation, we shall find nothing but a masked permutation of one thing for some certain quantity or weight of Gold or Silver: for he that trafficketh in foreign countries hath not such regard to the value imposed upon money, as to the intrinsique goodness which giveth the value, A good observation to be had by Merchant's. and hath the same function in other places, according to which inward goodness he setteth a price unto his commodities, to make thereof the like quantity of Gold or Silver as he hath laid out, over and above his charges and profit; so that the moneys remaining stable and firm, the price of Wares and Merchandises remaineth certain without any augmentation, to show that there is no enhancing of the price, because of the augmentation of the price of moneys, which will make us hereafter to see the good cheapness of all things (as he sayeth,) for he that causeth some foreign commodities to come within the realm, knowing the alteration of the price of moneys, according to the unbridled will of the people, will make the price of his commodities accordingly. And this the said Monsieur Garrault doth declare by examples of velvets and other commodities, and therefore he is of opinion, that moneys enhanced should be reduced again to their price, and that all debts made before that time should be satisfied a lequipollent, according to the rate, ut pecuniarum una & ●adem sit semper potestas, & perpetua estimatione difficultatibus permutationum, aequalitate quantitatis subveniat etc. The power of money transferred to the Exchange of money. Many other reasons (concurring with the former) are by him alleged, which I omit, because the whole foundation of the said Paradox is merely an abuse of the people, as himself hath noted, admitting also the transportation of money, and finally confessing the inhancing of the price of moneys, and consequently the sale of commodities accordingly. All which is fare from the present course of traffic, when the course of exchange is not considered withal, as shall be declared. True it is as the Civilians say, concerning contracts of commodities sold before the enhancing of moneys, that valour monetae considerandus & inspiciendus est à tempore contractus, non antem à tempore solutionis: but this not being observed was the cause that many Merchants do agree to pay for commodities in currant money for merchandise, others that sell commodities agree to be paid in species of so many ducats, dollars, French crowns, or other coins, which is of late years established to prevent the inhancing of coin, and yet it cannot be sufficient to prevent the said incertainty of the price of commodities. If the standards of the said moneys were by allay of copper altered, much less would the advice given that Merchant's accounts should no more be kept in livers and sou, but in French crowns to hinder the enhancing of moneys, which in some countries is secretly practised to be done of mere policy, when by public authority it is forbidden, and might be effected, as within the realms of England, Scotland, and Ireland, and other his Majesty's dominions, where the moneys are not enhanced between man and man, and remain currant according to their price, until the king's authority do alter the valuation by Proclamation, albeit by exchange it is not so; and therefore according to my third Paradox, we shall find, That the imaginary moneys in exchange do overrule the substantial moneys in specie: The third Paradox. For the Merchant's valuation of moneys in exchange doth overrule the King's valuation of moneys within the realm. For when the King hath valued the shilling piece at twelve pence, Merchants undervalue the same in exchange at 11 ½ d, and 11 d, not only in the price of exchange, but also receiving beyond the seas the enhanced moneys above their values, and not valuing of them in exchange accordingly, as before hath been observed concerning the valuation of moneys and the imaginary coins, or rather moneys, whereupon exchanges are made for so many several places. The late Earl of Donfermelling (Lord Chancellor of Scotland) did propound unto the King's majesty in the year 1610, Proposition of the Earl of Donfermelling. a certain proposition touching the enhancing of gold, his lordship being of an excellent judgement in mint affairs, That the French crown of the Sun which went never in England (to use his own phrase) all Queen Elizabeth's time, above six shillings English money, went now for seven shillings and three pence, and that the English double sovereign of twenty shillings went in France for eleven francque or twenty two shillings, and that both ways there had been no alteration in the standard. Whereupon he did demand, in writing, what was the cause of the said difference or alteration, if this proceed (said he) from the goodness of the gold, that it is better in fineness and allay, or in weight, or from the weakness of the silver, that it be worse than it was either in finesse & allay, or in weight? then is the cause intrinsic and substantial, and may be easily considered and resolved, if it be good or evil, to be entertained, maintained, and set forward, or rejected, and stayed from all further course: if there be any other cause or reason, it must of force be extrinsicke and accidental, let the same be searched out: if it be good to the Prince and estates weal and commodity, it should be assisted and continued: if it be tried evil, proceeding from the policy and craft of tradesmen, tending only to private gain and commodity, prejudicial to the Prince and State to be gainestood and expelled. This proportion being sent unto me by a great personage then in high place, was made plain by demonstration, to proceed of an accidental cause by advancing the Valuation of gold partly in England, when Crown gold was valued from fifty five shillings the ounce to three pound, and partly in France, when they did advance the French Crown in specie five sou; advising therewithal that to remedy the same, it was not to be done by enhancing of our gold still more and more, but in the price of exchange between France and us, otherwise we should undervalue too much the silver of the Realm to our exceeding loss, showing withal how easily this might be done, without alteration of the proportion observed between gold and silver for most places. But the contrary was approved, and Crown gold was more enhanced to sixty six shillings the ounce, by two several Proclamations, November 1611. which hath proved the loss of our Silver in bullion or weighty coin, daily breeding greater inconveniences by the want of our moneys, which by reason of the undervaluation in exchange, and not by undervaluation in specie, are continually exported, none imported but diverted (by gain) for other places, as hath been declared. All which cometh to pass for want of true judgement and experience in mint affairs, with the consideration of the said Essential parts of traffic so often mentioned, whereof I hope (that in general meetings for the public) more regard will be had, to the end it be not recorded of us, as it hath been of some Parlements in France, that in populi republica sententiae numerantur, non ponderantur: and then we shall be said to understand the Par, by right distinction between the active and passive. P●ys. 3. lib. ca 3. Aristotle saith, that Action and Passion are merely Relatives, and that they differ no more than the way from Thebes to Athens, and from Athens to Thebes: let us discern therefore the one from the other, and we shall find that as the Liver (Money) ministereth spirits to the Heart (Commodities) and the heart to the Brain (Exchange) so doth the Brain (Exchange) minister to the whole Microcosm, or the whole Body of traffic. Let the Heart therefore by the Liver, receive his tintured Chylus by his own Mouth and Stomach, and the Blood (full of Spirits) shall fill all the Veins, and supply the want of moneys, the easy course and recourse of whose Exchange shall bring all things in tune, & serve all men's turns. For even as there are two courses observed of the Sun, Two courses of Exchange like the two courses of the Sun. the one annual, and the other by daily declination rising and going under within the Aecliptique line, even so must we observe in Exchange two courses, the one according to par pro pari, or value for value, the other rising or falling from time to time, as hath been sufficiently declared: whereof the said Aristotle, Seneca, nor Cicero, nor any other Philosopher or Orator could take notice in the infancy of trade, Exchange not being then invented; neither do we find that any Temporal or Civil Lawyer hath entered into this important study, for the welfare of kingdoms and Commonweals (by the rule of Equality and Equity) hitherto. To conclude therefore this Paradoxical discourse, I cannot omit to do the same, with another Paradox by me observed, in the making of moneys of gold and silver, namely; That a man may commix Bullion to make a certain standard of moneys, either of gold and silver, A very strange Paradox. and after the commixture made, shall alter the standard and make the same better or worse, without putting any allay or silver and gold unto it. That is to say, I will melt down eleven ounces and two penny weight of fine silver, and eighteen penny weight of copper, both one pound Troy of twelve ounces in weight, making the sterling standard, and yet my moneys made thereof shall be but ten ounces fine. In like manner I will melt down ten ounces of silver, and two ounces of copper and more to make a standard of ten ounces fine, and yet my moneys made thereof shall be eleven ounces fine, or sterling. To understand this mystery or Paradox, we are to note that in the making of a standard of moneys, three things must concur and have an equality proportioned upon the pound weight of twelve ounces Troy, namely, Fineness, Alloy, and Weight of the pieces made out of a pound, which is the ground work of the subtle assay; according to which all Assaymasters make their calculation by the mark of eight ounces, or the pound of twelve ounces, making one mark and one half. Suppose now that (as in ancient time of King Edward the third) one pound weight being divided into twelve ounces, every ounce was divided into twenty pieces, or is now divided into sixty pieces, or three pound making sixty shillings, which then made but twenty, and that these twenty pieces or sixty shillings were diminished by the sheyre, and there is made twenty two pieces, in regard of the twenty or sixty six pieces, in the lieu of sixty pieces, which is ten in the hundreth that the said pieces are lighter than before, considering piece by piece: Now an Assaymaster received one of these pieces to make an assay thereof in manner by us declared (in the Second Part of this Book, in the seventh Chapter of the assays of Bullion and Moneys) and having weighed the same, he calculateth how many of these pieces do make or weigh one pound, and he findeth twenty two or sixty six pieces or thereabouts, because of the unevenness of the sheyre, which being tried, he maketh report of the fineness accordingly: so that wanting in regard of the pound, ten in the hundreth by weight, there must needs be wanting so much in fineness, and so eleven ounces melted down, is found to be but ten ounces fine: and in like manner, etc. All which in matter of exchange can be considered of and prevented as it shall please the King's Majesty, and his Highness' privy Council. Ebbing and flowing of waters, compared to the falling and rising of exchange. The predominant Power of exchange rising and falling in price, may be compared to the ebbing and flowing of the Seas, whereof no reason can be rendered, albeit we find the course thereof to concur with the increase and decrease of the Moon, which borroweth her light from the Sun, whereunto we may attribute a natural Primum Mobile of moving. This motion is not so perceptible in the main Ocean Seas, as visible in the rivers, streams, and branches thereof. Even so in the seas of exchanges, we are to ascribe the first motion of rising and falling in the price of exchange unto the Bankers, albeit the operation of it be not so apparent in those main exchanges, as upon the banks of the course of traffic by commodities and moneys (subject to inundation) in the particular exchanges of some countries, which run into the main ocean of exchanges, as a river or branch of the same. As this ebbing and flowing is aggravated by accidental causes of rain, snow, and the like by the alteration of weather: so doth the rising and falling of exchange, increase and decrease by the alteratiof State affairs between contending Princes, according to the use of moneys. And even as the seas are girt in by God's commandment, that they cannot overflow the main banks of the earth; so the course of the rising and falling of exchange in price, may be girt in by the King's commandment, A great consideration beyond the common capacity of men. that it shall not overflow the course or banks of traffic to the inundation of our home commodities and moneys. This Simile putteth me in mind to remember the Poetical fixion of the serpent Hidra's with many heads, whereof one being cut off by Hercules, forthwith another did appear, alluding therein to the river Nilus which had many branches, whereof the one being stopped in one place, caused another to overflow in another place, augmenting Hercules Labours, being therein like unskilful Physicians, which (to cure a disease) do many times cast the body into a more dangerous sickness: whereas the learned Physician will find an easy cure, knowing the efficient cause of the disease, without which conceited remedies are but mere shifts and extremities. Aristophanus hath painted forth the agony of an aged man, altogether shipwracked by usury, who thinking to have found out the way to be eased of his slavery, did propound unto Socrates this demand, That if he should (by the enchantment of a witch of Thessalia) fetch the Moon out of heaven, and bring it away, and afterwards enclose it in a case of glass, and so keep it, as if he would keep a fly in a box: Socrates demanding, what good that would do him? he answered, if the Moon do never rise again, I being constrained to pay money by the new Moon shall be freed of that trouble. A strange shift that this poor man was driven unto (apprehending a shadow for a reason) to pluck by violence the Moon out of heaven for his help, for in truth the witch did her best, and began to charm the Moon, which when the usuror understood, did put him in such a pelting chafe as was wonderful to behold; for accusing this poor man of enchantment, at last he went himself to another witch, not only to keep the Moon from coming out of heaven, but also to hasten the course of her faster, to recover his usury the sooner. Good God what a trouble was the Moon put unto between these two witches? What storms and tempests did arise? What horrible wind did blow? What great rain did fall? What floods ensued every where? So that countries' were almost drowned, and under water in many places. The moral of these Metaphors, concurring with our former comparison, doth not only show unto us the operation and conjunction between the Moon and waters, but also the folly of vain conceited remedies. The propounded remedy therefore for the reformation of the abuse of exchanges, is grounded upon the rule of Equality and Equity, whose Antitheta are inequality and iniquity, which every man ought to suppress: Equality is amiable and accompanied with ease and facility, but inequality is hated and associated with trouble and difficulty. The difference whereof is like unto this Geometrical Axiom, in commendation of the invention of round wheels to draw and carry loads with a small strength, Circulus tangit planum unico puncto: For if the wheels should have been made square, or in any other polyangle and proportion, forty horses would not so easily draw them being laden, as two doth now with speed and ease: what easier thing can there be, than to set and command a price in exchange to be observed according to the value and equality of moneys domestical and foreign; A most easy remedy, a● aforesaid. and to let all Merchants exchange one with another by Bills of Exchanges as they now do, and can agree amongst themselves, but never under that price seeing it is against all reason, nature, and policy to undervalue the King's money by exchange, and all the commodities accordingly to the incredible loss of the Realm. Will not this be as easy to be done, as we see the rudder of a ship doth govern the greatest carrack or vessel, being but a small piece of timber fastened upon the parallel of the keelne of the ship, whereby it is directed according to all the variations of the Compass, as we have said elsewhere? Let the practice hereof assure us, and we shall not need to seek the golden Fleece in Colchos, which we have within our own Island of Great Britannia; our feeble pulses will be felt, when our hammers shall beat in the Mint, for moneys and bullion, are (to the State) a second life. If any Hedgmint (for so do the States of the United Provinces of the Netherlands call the Mints of petty Lords, Hedgemints what they b●. which by falsified standards do imitate to coin the money of other Princes) should seek to maintain inequality, all their imaginations will prove to be but chimeras and toys: for it will be easier for the King to alter the price of this equality of exchange accordingly, than it is for a Miller to turn his mill to grind his corn with all winds; insomuch that when it shall be once established and known, there will not want some backbiter or Momus to make little estimation of this Columbus voyage to the rich India's, and go about to disgrace this great service to the King and Commonwealth, for they shall be able to set an egg on the end (by way of imitation) as others did when they saw it done before. Prerogative Royal to set a price for moneys. By these means shall the ancient Office of the King's Royal Exchanger be supplied, and it is one of the greatest prerogatives the King hath to set down a price on his own coin, and thereby to give a certain measure to buy and sell, which is by the Merchant's exchange and connivance of toleration by foreign States abridged, and in a manner frustrated: and it imports the King more to reform this exchange, than any other Prince; because God hath so blessed England, that no Nation of Christendom trafficketh so much in bulk of Staple commodities as this Realm, which Boters (though altogether Spanish in times past, and no friend to England) confesseth, that two years before the taking of Antuerp, An. 1584. all the wares of Christendom being valued and summed (by the officers of that City) which were vented there in one year (the whole being divided into six parts) the English amounted to four parts thereof; which is the cause also that England hath the head of exchange, The Basis of Exchange. which is our Basis and foundation of our twenty shillings sterling, whereupon most exchanges are made, and this head may command the members and parts of the body more conveniently by the King's commandment, as before hath been declared. I have in this Chapter thought convenient to remember this important matter again, with a variety of style to revive and recreate the spirit of the Reader, to the end (all the premises) may in his apprehension and conceit give more delight and pleasure even to natural mother wit, whose commendation may not be omitted. CHAP. XIX. The due commendation of natural Mother Wit. FOr as much as all humane actions being fallen from perfection to imperfection, are to ascend again from imperfection to some measure of perfection; Natural Mother Wit casting her eyes back, Per varios casus, per tot discrimina rerum, challengeth the precedency of Art by way of Prosopopeia, by her ingenious observation of number, weight, and measure, under which she hath noted, that all substantial things under the cope of Heaven are subject. Who will deny (sayeth the intellectual part of Wit) that even as forma dat esse rei, so I caused dame Nature to perform her function by producing spotted lambs, when I overcame the eyesight in generation, Gen. 30. ver. 37 so when the teeth of infants come forth orderly and conjoined by my observation, are they made an object for the tongue to play upon? did not I teach those that could not pronounce the letter R, to lay little pimble stones under their tongue, to elevate the same, to make them apt thereunto, as also to cause the ligaments to be broken, without which the Grammarian cannot ascribe to himself, Grammatica. Vox literata & a●ticulata, debito modo pronunciata? By which ability, the Caldean, Hebrew, Greek, and Latin letters were afterwards by Arts invented, upon which foundation Logic was builded, whereby I caused verum & falsum to be distinguished, and truth to be discerned, which the Logicians have so much obscured by their Sillogismes and Arguments founded upon Distinctions, Divisions, Subdivisions, Logica. Quillets and Exceptions by variety of terms, that without my help the truth can hardly nakedly be known, which by Art should be made plain and not intricate; for a ripe Wit will dispel the foggy mysteries of deceitful fallacies, as the Sun driveth away the winds and clouds. Poets are beholding unto me, whose Natural witty faculty maketh them famous, according to the proverb, Nascimur Poetae fimus Oratores. But now Art steppeth in, Rhetorica. and claimeth the honour of Rhetoric, as devised by her with the help of the facundity and fluency of speech, and is called Ornatus persuasio, whereunto the celerity of Wit occurreth, saying, soft sir, do not take me to be all Wit without wisdom, like unto trees full of fair leaves without fruit, Arithmetica. for lo, yonder cometh Arithmetic, which is the original and ground of all the seven liberal Sciences or Arts, without which, none of them can subsist; her poesy is Par & impar. This foundation was laid by me amongst the heathens and unlearned creatures of America, and other countries, to demonstrate numbers by fingers and toes, telling two, three, four, and so to ten, than ten and one, and ten and two, and so forth, still making signs as they speak, and when they will reckon twenty, they will hold down both their hands to their feet, showing all their fingers and toes, and as the number is greater, so will they double and augment the sign, observing the same by a little bundle of sticks laid or tied together, and separated a sunder, observing thereby their payments and promises, according to Number, Weight, and Measure. This is that accounting by scores yet used, whereof their Arithmetic gave denomination before any of the said Arts were invented; and this is properly to be attributed unto me ab origine. For I have noted, that in things created and engendered the Elements are numbered, proportionated, and weighed, which is the cause of the diversity of things existant of Matter, Form, and Deprivation, whereof even the letters (to describe them) are numbered, and the figures of the leaves of herbs and plants do declare their virtues. Upon this ground of natural Arithmetic is Geometry builded: Geometrica. for the proportions of all measures drawn from unity, which is the fountain of numbers, whereby measures are described, before the art of it was invented. Is it not my only and first observation that Music was practised by the sound of the hammers of Tubalcayn upon the Anuile, Mu●●ca. whereby so many and sundry musical instruments have been devised? Lastly for Arts Liberal, Astrologic. Is not Astrology observed by the Wit of the Egyptians in many hundreth years, whereby they have found out the course of the Heavens and Stars, with their distances and dimensions, explained by Arithmetic and Geometry, whence the Inch, Thumb, Finger, Palm, Hand, Cubit, Brace, Foot, Pace, and all other measures and proportions have been derived? The little infant not three years old was taught by me to discern his portion, in eating pottage with the pig, saying take a spoon pig, when the slabbering of the pig carried away the bigger part; for I did note before Euclid, that the whole is bigger than his part, which divided into equal parts are all alike. You that are passing by, stay and pause a while, look upon Natural Mother Wit, that hath observed the beginnings, progress, continuance, and end of all things, wherein I do supplie and disguise many defects and deformities both in the mind and body of man: and when there is found by me ability of Nature, than Art giveth facility; as a Maxim in Physic I found, A Maxim in Physic. that contraria contrarijs curantur, and that the frantic man is excepted out of this rule, for he must be fed in his humorous disease; for he that did imagine that he was dead, and therefore forbear to eat, was made believe (by the sight of counterfeit dead men eating) that dead men did eat, whereby he fell to his victuals and saved his life, and at last was cured. I made the deaf Musician of Bridges to understand all men in three several languages, Master Verh●uen. An●o 1585. only by observing the motion of the lips without hearing of any voice or sound at all. It was I that made the blind man in Antuerpe to make (in a dark place) rare wooden trumpets of excellent sound, and carved images of his own invention, as also by the imitation of other pictures, only by the sense of feeling: and unto me belongeth the invention of spectacles, prospectives, and other preservatives of sight, and remedies for all the other senses. It was I, that (by organs of the mouth, being touched by a stick held upon the virginals, and resting upon the teeth) caused the deaf musician to teach men's children to play upon them, whereby he got his living. I did teach the maiden to sow and write with her feet, when both her hands were lame and impotent. And unto others I did show means to cure lameness, giving strength to the sinews, only by rubbing and conducting the blood into the veins, by a warm hand, without art; for I did observe that in the Microcosm, The natural cures of th● body. or the little world of man's body, there are diverse natural cures and remedies, namely, The spittle dissolved into water, and poured into the ear cureth deafness, taketh away itching or ebulition of the blood, and cleanseth invetorated wounds and scratchings. The sweat of the feet by smelling cureth the palsy. The ear wax anointed in the nostrils, comforteth the smelling. The urine laid on with brown paper, assuageth the pain of the gout. The excrement laid on, qualifieth the immoderate heat of the body. The pairing of the nails taketh away the drowsiness of the brain. The phlegm dissolved openeth the conduit pipes: The coldness of the hands applied to the head taketh away the dolour of the brain, and many other observations may be used in lieu of other remedies. The judgement which Solomon gave between the two women which were striving for the child, Natural witty judgements. upon the dividing and partition of it; did it not proceed of mother wit by natural reason? Alphonsus' King of Naples (upon a denial that a father made who would not acknowledge his son because of some private quarrel) was advised by me to command the son to be sold for a slave, and then nature could not fail to show her operation: which in like manner caused Claudius the Emperor to command a malicious mother to marry her son (denied by her) who rather than to do the same, did acknowledge and confess him to be her son. Natural wit made the Bees to discern the natural flowers from the artificial flower, although the same was made of wax, and did retain the smell and sweetness of honey. And I have observed the natural and violent passion of the love of parents to their children, in so much that not many years since, a father (thinking to have beaten his son) received a mortal wound at his son's hands, being thrust in with a sword through his belly, did not cease to cry until death, that his son should fly thereby to escape the punishment of justice. Infinite are my experiments in Nature, before Art was; but tell me Art, canst thou make any thing but of things already made, putting a distinct determination between things for the better understanding? whereunto Art replying said and plainly confessed, that she could do no more without Mother Wit, than an artisan or crafts-man can do without materials & tools in matter of his profession or occupation. And hereupon did Mother Wit conclude not only to have the precedency of Art, but also to be able to control Art without either Logic or Rhetoric. Natural Logic. The country Coridon having a scholar to his son, demanded of his son what rare things, and exceeding his ordinary knowledge, he had learned, whilst they were at dinner: the son seeing two roasted chickens in a dish, told his father, that he could make him believe that these two chickens were three, which was admirable both to his father, and all his guests; the son being thereby inflamed, said look sir, here is one, pointing at the chicken, and here is two, pointing at the other chicken, and no man can deny but that one and two are three: but Coridon's Wit did prove active, for he gave his wife one chicken, and took the other chicken to himself, and willed his son to take the third chicken for his learning, if he could find it, whereby Art was controlled. (* ⁎ *) CHAP. XX. Of the Ancient Government of the Staple. THE precedent short commendation of Mother Wit, ministereth an occasion to enter into a retrograde consideration, how the course of Trade was managed heretofore; remembering in this particular the Proverbial speech, Nil nout sub Coelo, the rather for that so many good Acts of Parliament have been made, long since concerning the same, when the Staple of our commodities did flourish, both here and beyond the Seas, in the time of King Edward the third. The maintenance of ●ree Trade, Anno 1622. And having of late published ten causes of the decay of Trade, it may be thought convenient to examine the same upon the said points. 1 The underualuation of our moneys by Bills of Exchanges, and the overualuation consequently of foreign coin unto us, which is the Efficient Cause of the want of money in England. 2 Usury Politic practised by many, and abandoning Trade. 3 The litigious suits in Law, to the hindrance of Trade. 4 The neglect of the fishing Trade, preoccupied by other Nations. 5 The endraping of Wool in other countries, of late much increased. 6 The policies of Merchants of several Societies. 7 The false making of Cloth and other manufactures. 8 The exportation of the materials of Wools, Woolfels, etc. 9 The wars of Christendom, Pirates, and Bankerupts. 10 The immoderate use of foreign commodities within the Realm. But before we come to this examination, The beginning of the Staple. let us observe the beginning of the Staple, and their privileges in the government thereof. The most ancient foundation of Merchants and merchandising in this Kingdom, both for Trade and Government, had by continuance of time before King Henry the third, did obtain the name of Staple; the commodities of the Realm, as Wools, Leather, Woolfells, fells, Led, Tin, Butter, Cheese, Clothes, and other commodities were called Staple Merchandise: The Ports from whence the said commodities were to be transported, were called Staple Ports, as London, Westminster, Hull, Boyston, Bristol, Southampton, New Castle, and other places: The places of residence of these Merchants, both within this land and beyond the seas, were called the Staples; the Laws and Ordinances made by the said Merchants, were called Staple Laws: under their government (consisting of a Mayor, two Constables, and other Officers) hath the trade of this Kingdom time out of mind flourished, to the great enriching of the Kings and Kingdoms: and it hath been supported and assisted by the wisdom of the State in all ages, as may appear by the several Acts of Parliament made for that purpose in the times of Henry the third, Edward the third, Richard the second, Henry the fourth, Henry the fifth, Henry the sixth, and King Henry the seventh. So that comprehending the Merchant's adventurers Society with them, which began in the said time of King Henry the seventh, it is above four hundreth years standing, that the said Society hath been, as we have noted. For by the providence of all those Princes, the Staple Trade was from time to time established, and especially by King Edward the third, in whose reign a great number of memorable Laws were made for the purpose, appointing the said officers and their fees to prevent extortion; and all the King's subjects, that would bring their goods to the Staple and trade, The ancient free Trade. according to the Laws and Ordinances thereof, were admitted to be Merchants; such was the free trade of this kingdom in those days, wherein the subjects of all sorts upon all occasions might freely participate under government. At these Staples were the King's Customs duly collected, and by the officers of the Staple, at two several times, paid into the King's Exchequer; and by their government were many inconueniencies prevented, whereby the former causes of the decay of trade, were either moderated or reform, namely: 1 The moneys of the Realm were required to be answered in true exchange, according to their intrinsike value, and their Doller, or other foreign coin was by the Mayor and Constables valued accordingly; for there was no merchandising exchange used, neither were Bankers known: and when there wanted money in the kingdom, or was like to want, order was taken by them to import Bullion, either the 1/● or 1/● part of the value of commodities exported: The debts between Merchants were transferred or set over by bills to be registered before the Mayor or Constable, which was currant without the strict proceed of our Common Law. And the like may be done now by a Register authorised by his Majesty's letters Parents. 2 In those day's usury was accounted to be an abominable thing, for it was not used by any course politic: but seeing it is now so general in all countries, the best remedy to abate the same in price, is to procure plenty of money within the Realm by the means before mentioned, which will be more effectual of course, than any law that will be devised for the moderation thereof. 3 To avoid the litigious suits in law, the said Mayor and Constables of the Staple had authority to determine them with all expedition: and if it were upon a difference between a Stapler and a Merchant stranger, there were two Merchants strangers admitted and joined with the Mayor or Constables to determine the same, and that with a present execution without delay, especially upon a Statute Staple acknowledged before the Mayor or Constable, as aforesaid. 4 The fishing Trade was not preoccupied by foreign nations, as it hath been within these hundreth years, as hath been noted; albeit such Ships as were permitted to fish in the King's Seas and dominions, paid six pence for every ton burden, which is now eighteen pence, and this trade might be established with us, notwithstanding that the several Societies of the Merchant's Adventurers, Russia, and Eastland Merchants, are of opinion that England cannot maintain the same, and the cloth Trade together, as they have certified. 5 The indraping of wool or making of cloth, being of late much increased beyond the Seas, and less cloth made with us, may give the better means to establish the fishing Trade, as aforesaid. 6 The policies of Merchants of several countries is to be met withal, as the Staplers did in times past, looking to the sales both of wools, and all other Staple commodities, and the prices of foreign commodities, to prevent the overbalancing in price of the said foreign wares with our native commodities. 7 To prevent the false making of cloth, let us observe that at these Staples, Merchants goods were always diligently and carefully viewed and subscribed, by the Correctors and other Officers of the Staple; to the end that all goods exported might be answerable in goodness to their expectation upon the view required: whereby this Staple Trade continued without any interruption, for they were the sole Merchants of the Realm without competitors, until the time of King Henry the fourth; at which time certain Mariners and Mercers of London, using to barter English clothes in Holland, Zealand, Brabant and other places, had by the said King Henry the fourth, a governor set over them only to be a judge to hear and decide their controversies and to punish their misdemeanours, with licence that they might congregate themselves for that purpose, as by the grant appeareth. This licence they in short time perverted, to the great disturbance of the ancient course of the Staple, whereby the trade of the Realm greatly declined, and the King's Customs decreased: so that from 160 thousand pounds yearly paid out of the Staple, the Customs came short of 120 thousand pounds. The Fraternity of Saint Thomas of Becket. These new Merchants terming themselves, The fraternity of Saint Thomas of Becket, were by Act of Parliament, and by direction under the Great Scale of England, in the time of King Henry the sixth, prohibited from doing any act that might prejudice the Staple; and so it continued until the two and twentieth year of King Henry the seventh, and then there was another great complaint in Parliament against the said fraternity, for decaying of trade, and a very strict law made against them, with especial order that they should admit any of the King's liege people into their society paying unto them ten marks, which under pretence of some privileges hath been interrupted, and especially by his Majesty's Proclamation, in the fifteenth year of his Highness' happy reign, by reason of the controversy for the dressing and dying of cloth: nevertheless in all their grants, exception is made, That the Staplers should not be prejudiced, which in the wisdom of a Parliament will be found most necessary to be united again, to make a free trade under government. 8 The exportation of the materials for cloth, as wools, Fuller's earth, woolfells, and woodashes, is prohibited lately by his Majesty's Proclamation, with good orders for the execution thereof, according as heretofore was done by the Correctors of the Staple for other commodities. 9 Touching the wars of Christendom, let us observe that King Edward the third, had also great wars in his times with France and in Ireland; and nevertheless he did receive a very great assistance by subsidies of fifty shillings upon every sack of wool exported for, and during the time of six years, which amounted to 1500 hundreth thousand pounds, when one ounce of silver was valued but at twenty pence, which would now amount to four millions and a half. 10 And lastly, the immoderate use of foreign commodities, was by the Mayor and Constables of the Staple, had in consideration; for they had always an especial care to the enriching of the Kingdom, because the provident care of the King did put them in mind thereof: insomuch that when the said King became forgetful therein, by reason of the wars, and that the Kingdom wanted chaffer, wares, and necessary provisions, the Parliament did absolutely deny to give him any subsidy, as appeareth by the Chronicle of Grafton, in the one and fiftieth year of his reign: so that by the premises things have been (in some measure) considered of, when least disorder in trade appeared. A Conclusion to the judicious Reader. THe trivial vice of Envy is said to be the mother of wickedness, and accounted to sit in an imaginary Theatre: Her Palace is a dim and hollow vault, wherein she waxeth pale and wan, as having the consumption of the liver; looking a squint, as borne under Saturn; never resting, as though she were an arm of Ix●ns wheel; engendered and hatched by the ugly Megara of Hell, that feeds and crams her gorge with Dragons, and foams out again deadly poison. This unce hath sent forth triple headed Cerberus under the shadow of Zoilus, Momus, and Mastix, Three envious Satyies. to perform her intended tragedy: but Zoylus (remembering that his railing Commentaries presented by him to Ptolemy king of Egypt, and his presumption to be better learned than Homer did work his overthrow) goeth by with silence, and shaking his head, seemeth to be discontented, and under hand he doth instigate Momus and Mastix to follow their envious humours: whereupon Momus (with his carping eyes dimmed with passion) having cursorily read over this book, taketh upon him to be a great Politician or Statist, and findeth fault that many things therein contained (which he termeth Mysteries) should be published and made known, especially such as may concern Princes in their revenues, or secrets of their mints. Unto him therefore I frame this answer, confessing and avoiding, that true it is, That the ancient Monarchies, Empires, and Commonweals held the knowledge of their revenues in such reverence and secret, that none (but the officers which had the managing thereof) were made privy of them, as being sacred things, not fitting that the people should take notice thereof, which was truly observed in the Roman Empire, and Commonweals of the Grecians. But as times produce variety, and the manners of men do change, breeding corruption of laws and customs; so was it found, that by this secrecy officers were both emboldened and enabled to deceive the Princes thereby, and the people would pretend ignorance to gi●e unto them their dues: whereupon the Senators of Rome (by mature deliberation) did ordain, that from that time forward, the revenues of their treasure, and the dependences thereupon should be published and made known, not only unto the people, but unto strangers also, which the Emperor justinian caused to beobserued, and other Emperors succeeding him, as appeareth by the Code and other Books, which the French Kings have imitated ever since; willing and commanding, that these things should be known of every one, yea even of the mere strangers of other countries; so that this objection is of small moment, especially this book being moderate in the handling thereof. Now Mastix riding a false gallop on a hackney horse (being full freighted of conceits) cometh to town, and maketh two exceptions to the method and contents of the book: first he will not allow the terms of Art, by dividing of the same according to the three essential parts of Traffic: next he will not have Merchant's secrets laid open, or their trades divulged. To the first, concerning the being, essence, or existence of things, he will make no difference between natural things, and things artificial, and so there is but two essential parts of Materia & forma, albeit that some Philosophers have established three beginnings of natural things, Matter, Form, and Deprivation: The Matter hath no other office or function, but the changing from one Form into another, Deprivation giving an inclination thereunto; for Deprivation is an imperfection so conjoined to the Matter, that without her, if she were separated, nothing would be engendered; and therefore in Heaven there is no Deprivation, and consequently no generation ne corruption. The Form therefore giveth perfection to the thing and being also, and without her the Matter is more imperfect than the eye is without the faculty of seeing, or the ears without hearing. But in artificials, the being hath her parts, as Traffic hath three, namely, Commodities, Money, and Exchange: so other things may consist of more being or simples, wherein the terms of Art are not excluded, neither can they avoid Mastix his envy. To the second, the whole contents of this Book manifesteth to all judicious Merchants how necessary the knowledge is of the matter therein contained, to maintain Equity and justice by the Law of Nations; and that there is no particular secret of any Merchant's trade revealed, to the prejudice of any man or nation: in so much that they are much pleased with it, as being desirous to advance the good, and to banish the evil, observing that virtue maketh a stranger grow natural in a strange country, and the vicious becometh a mere stranger in his own native soil. Let virtue therefore enjoy her freedom, and possess her privileges by the right of Law, and all the people shall flourish with equity, justice shall maintain Peace; Peace shall procure Security; Security shall nourish Wealth, and Wealth Felicity. No man is to be dismayed at his small talent, or to grudge at another's greater prosperity; for without doubt, Nature hath by her secret motion denied none, some perfect quality to supply that want, which in himself breeds discontent or mislike: for even as the fish (having no ears) hath a most clear sight; so though want of dignity be a disgrace to some, though want of coin discontent diverse: and though lack of wealth impairs the credit of many, yet nature hath supplied that outward ornament with such an internal reward, as a loyal and loving heart (notwithstanding many hard measures) will with constancy spend all his time for the good of the commonwealth being thereunto employed. This work thus at length happily concluded, and commended to the kind acceptation of all gentle and well disposed minds, is not compiled to please the vain appetite of some men, according to their nice opinion, but is referred to the judicial and affable judgements of this age, to whom I shall (during the remainder of my days) always be ready to supply any thing which in the next impression may be desired; not doubting but they will measure it by the just desert, and censure thereof as their own kind natures have ever been accustomed. Soli Deo gloria. FINIS.