AN ACCOUNT OF THE Late DESIGN of BUYING up THE WOOL OF IRELAND in COMPANY.  
In a Letter to J. L.  
LONDON, Printed in the Year, 1674.   

SIR,  
HEre has been lately a design set on foot, for buying in Company all the Wool not Manufactured in Ireland, and to prevent the Transporting it into Foreign Countries, they would be obliged to sell it only to the Cloathiers and Manufactors here, as Persons who cannot be supposed to be so ignorant of their own Interests, that they would for some little gain, send Wool abroad to hinder the Sale of all they shall Work at home. By what Method, and how far this affair proceeded I will show you as briefly as I can.  
1. IN Order to the Erecting this Company, it was humbly offered to his Majesty, that in regard the Wool of Ireland is a Commodity Prohibited, to be Exported out of that Kingdom under great Penalties, by several Statutes there made, (viz.) 13. H. 8. C. 2. 28. H. 8. C. 17. 11. Eliz Ch. 10. 13. Eliz. ch. 4. and notwithstanding those Statutes were made both to hinder the Dutch and other Foreigners from carrying away the Wool, and to necessitate the Subjects of that Kingdom to Manufacture it at home, (which cannot be done without prejudicing England, by making any other place the Staple for Woollen-Manufactures:) yet from time to time, almost ever since those Laws were Enacted, the chief Governors, by Authority from the Crown, have given Licences to Transport what Wool could not there be Manufactured into England; obliging the Transporters expressly to enter in the Custom▪ House every Stone, and to pay the Duties imposed by Act of Customs on that Commodity, when Licenced to be Exported; and to enter into Bond to return Certificate of its being Landed in England.  
Notwithstanding all this caution, many Merchant's greedy of gain, have adventured by stealth to Transport Wool into France and Holland, (whereby the English Woollen-Manufactures have been much prejudiced, and Foreign by consequence advanced,) for they, if they succeeded in one Voyage of three, were considerable Gainers; so much the rates of the Wool of Ireland were higher in those Foreign parts than in England.  
The Act against bringing the Cattle of Ireland into England, did Necessitate the People of that Kingdom to breed fewer black Cattle, and fall into the breed of Sheep, whereby that Kingdom has much more Wool in it, than ever it had before, and is likely to increase every year; so that if some speedy and effectual Regulation be not made in the Trade of the Wool of Ireland (the Manufacture of that Country not being able to employ the fortieth part of it:) particular persons will, notwithstanding the Laws, venture to Transport it into Foreign Countries, rather than make it a drug at home.  
It were therefore to be wished, that since none can Transport Wool out of Ireland into England, but by his Majesty's Licence; and that He, or His chief Governor may grant or deny such Licence to whom they shall think fit, that his Majesty would be graciously pleased to take the whole Wooll-trade of Ireland into his own hands, and advance the Stock necessary to carry it on, which is computed to be about 150000 l. Sterl. & would Employ some honest & knowing Persons to buy up Annually, all the Wool brought to the Ports for Exportation, at honest and equal Rates, to be adjusted between Buyer and Seller: And faithful and honest Commissioners in England, to manage the Trade, by which His Majesty will advantage His Subjects of both Kingdoms, and gain into his own Exchequer a sufficient profit: Nor is it unbeseeming his Majesty to be concerned in a Trade, which, by securing all the Wool from Foreigners hands, enriches, re-peoples', and strengthens His Subjects and Kingdom, by giving a full employment to all, and adds so many lost hands to the labour of the Public; seeing other Princes abroad (where the effects are not so glorious) have Stocks going in Trade. The French King in the Manufactures of Lace, Paper, and Salt. The Emperor of Muscovy, the King of Spain, Portugal, and Duke of Florence are great Merchants.  
But if his Majesty thinks not fit to advance the sum requisite for carrying on his Trade, than others of England and Ireland will advance the Sum, if the sole liberty of Transporting Wool be granted to them: They will give constant and sufficient Rates for the Wool to the People of Ireland, as high as they received formerly from single Merchants: And whereas heretofore they were often forced to batter their Wool for other Commodities at dear and unconscionable rates; or give long days for payment; they will pay them ready money immediately upon delivering their Wool, and engage to Land it all in England; and they will yearly pay unto His Majesty's Exchequer of Ireland, 10000 l. Sterl. over and above the usual Fees, to the chief Governor of that Kingdom for granting the Licenses.  
This (Sir) is the substance of the Proposal made to his Majesty; but before it was delivered, one of the Proposers did long since, in December last, give an accounted of this whole Affair to a person of great Honour; one, as eminent for his Candour and Prudence, as for Quality; a Privy Counsellor in both Kingdoms, entreating his Lordship would promote it, if it proved just and rational. He, wisely considering the whole matter, first made his Objections, to which, receiving satisfactory answers, he communicated the business to the most eminent Personages of both Kingdoms; and in March last, written, If the Stock to carry on this honest design could be raised, the grant would be obtained, and prove grateful to both Kingdoms: Upon this Encouragement, one of the Proposers hasted into England, attended most of the Persons of Quality of Ireland then here, to receive their sense also in the thing, to which they all consented; afterwards he discoursed the matter with the Factors of Blackwell-Hall, as the likeliest men to know the sense of the Cloathing-men of England, and he satisfied their Objections, partly by discourse, but more by the following Letter,  
To Mr. Langworth, and the Factors and Cloathiers of Blackwell-Hall.  
There being a design on foot, for the joint good both of England and Ireland, wherein Persons of your Trade would be nearly concerned; I▪ thought fit to communicate it to you, and to give you the offer of partaking in it: But, yesterday you all seemed I know not how to resent it, desiring me to draw up the state of the thing, and you would further consider it; which in as few words as I can comprehend it, stands thus:  
It has been this long time the great outcry and general complaint here, that many thousands are ruined, and undone, by the decay of Woollen Manufactures, which was said to be occasioned partly, by the Importation of French Wares; but mostly, by the Transportations of English and Irish Wool into France and Holland; to remedy which Evils, though many things have been thought on, nothing was hitherto found effectual.  
The People of Ireland on the other hand complain, that the Wooll-buyers combine so to undervalue their Wool, that they are necessitated to study all ways to make the most of it; especially since that, by the Act against Importation of their Cattle into England, their Wool is increased. Now, to Accommodate both Kingdoms, there is an honest and fair design laid, for the buying up all the Wool of Ireland, that shall not there be Manufactured, and for its Transportation into England only. I than told you, This could no otherwise be effected, than by erecting a Company of Staplers, who should be obliged to buy up Annually, all the Wool of Ireland, at certain rates, according to its goodness, which should be, when controverted, determined by indifferent sworn Persons, sufficiently skilful in that Commodity; and you all unanimously agreed that it was mightily for the advantage of England to have all the Irish Wool Imported into England, and that, no doubt, 'twould yearly be Manufactured here, and would yield at least the same price, if not better, than in several years preceding the late Dutch War; and that if the Irish and English Wool were secured from French and Dutch hands, it would raise our clothes a sixt● part, from 10 s. to 12 s. But you fancied it would be ungrateful to the People of Ireland to restrain them to certain Prices, or Buyers; (I much question whether you aimed at that People's advantage in this supposition.) You also allowed, it would be hugely prejudicial to the People and Trade of England, to have all the Irish Wool Manufactured in Ireland, for that their advance in this would be your loss, since Provisions being cheaper there, and they having that Commodity at easier rates than you can thence in England; there being three shillings charge on every Stone, besides the hazard and risk of the Sea, which together with the Interest of money laid out, will considerably add to the enhancement of the price; insomuch, that upon the whole, it may be concluded, should Cloathiers from England, France, and Holland, Transplant themselves into Ireland, they would be able to work up the Wool, at least six shillings a Stone cheaper than it can be wrought in England. Then, Ireland in respect both of S●ituation and Harbours, being as convenient for Trade, as any Kingdom in Europe, they would soon engross That of Woollen Manufacture, Spanish Wool being thither Importable, as well as into England Duty-free: And 'tis not to be doubted, but that this was the design of the several Parliaments of Ireland, in prohibiting, even into England, the Exportation of Wool, and in Imposing for Customs, six pence per yard on Old Drapery, 2 d. on New, 4 d. on Chamlets, 6 d. on Mohairs and Farendines, 8 d. per pair on Worsted Stockens, and 4 d. on Woollen, Manufactured in England, while in the mean time, they left the Exportations of all sorts of their own woollen Manufactures, so low rated, that their design may plainly be perceived to have been, what I have intimated: And considering, that at present England is not by at least a 10th. sufficiently Peopled, (and that is another reason of its Poverty) This would in time draw the Trading-part of this Nation, into that Country, to the further weakening and impoverishing of This, which probably can't more practically be prevented, than by throughly pursuing the present Projects, which I perceived you were all very desirous should be executed in the main, yet thought it hard to impose rates on the Wool of Ireland, which I guess you imagined would occasion its rise on the People of England; which apprehension will quickly vanish, if you consider, that from your own concessions of the clothes being raised a sixt● part, it clearly follows, that granting the Company should raise the Wool a sixt● part higher than now it is, (which really is not intended,) yet would it still remain equally cheap, to the Cloathiers, as before; for, this is the same case with that of Customs on Merchandise, which is not a charge on the Merchant, but on the Consumptioners only; and a penny or two pence on a yard is so far from being a prejudice, that 'tis a real advantage to the Kingdom in general, since more hands being to be employed, several thousands of Families, who are now Starving, will not only live by this Trade, but get much more than they spend, which is the only enriching of a People. By this means also, in a little time, the English Artists who are gone abroad, will be necessitated to return, and with them bring, like Decoy's, (but to better purpose) a multitude of Protestant Foreigners, and with Them, all their Riches, which will chiefly fall into the hands of the Cloathing-men of this Nation, (though it will abundantly enrich all other sorts of people) they being allowed no other liberty, than as Journeymen and Servants to work under them, at least till by intermixed marriages they are embodied with, and become one people with the English, which a very few years will bring to pass. And this will further show a way for another, or the same Company, by an Addition of Stock to buy up all the Wool of England, which may easily be done, by proposing handsome and equal rates between Buyers and Sellers, for all the Wool, for a certain number of years; which will remove all pretensions for sending it abroad; and though something dearer than ordinary be given, there can be no loss, since 'tis demonstrable, that what is given in the Wool, is got in the Cloth. And for an encouragement to such a brave undertaking, 'tis to be considered, that Clothing is necessary, and that all the Wool of Europe is somewhere or other yearly Manufactured, none burnt, or thrown away as useless; and that most of the Wool of Europe is made useful by the mixtures of English or Irish; and that if these can be secured in England, this Country must then consequently get into all the Clothing Trade of the World, they being the only People that will have to spare beyond their own consumption; though His Majesty should be graciously pleased by his own example to discourage, (which 'tis hoped He will ever continue to do for the good of His Subjects) all other sorts of Garments but what shall be made of Cloth or Woollen Stuffs, in which no doubt all People may be clad as richly, and as conveniently according to the seasons of the year, as in any other sort whatever.  
But to return to the present design of Irish Wool: 'Tis not to be supposed what you seemed chiefliest to desire, that the Laws of that Kingdom should be altered in granting Liberty of Transporting Wool out of Ireland into England duty-free; since thereby, His Majesty would not only suffer in the diminution of his Irish Revenue, but the same inconvenience of carrying it elsewhere, and at an easier rate to the Transporter would still remain. Nor is it to be imagined, that his Majesty will erect such a Company as you seem to desire, granting to them only the sole liberty of Exporting Wool, without obliging them to give a certain and constant price, which would be a very great hardship to His Subjects of Ireland, and would tend only to the giving the Company an opportunity of making their own Markets on the People of England and Ireland. And if you imagine the price will be raised here, though that be already answered, you may prevent that by joining in this Society, or by resolving to give certain rates for such a number of years for all the Wool, good and bad.  
That the erecting such a Company is no Monopoly, but a real advantage to both Kingdoms, will appear from the following considerations: And first, You are to understand, that there are several Statutes made in Ireland, which wholly forbid the Exportation of Wool into any Kingdom what ever. Now these Undertakers will give constant Rates to all the Wooll-sellers of Ireland for their several sorts of Wool, leaving them to their liberty, to take, or refuse those Rates as they shall find their greater advantage; provided the King Licenses no others to Transport any Wool but these Undertakers only, during the Term; which Grant, can't be judged an Monopoly, since they do not design the Wooll-sellers should be obliged to sell (they having still the liberty the Laws leave them to Manufacture it at home) but if they will sell, they bind themselves to give greater rates than have been given; and since a Monopoly is a restraint of liberty of Trade without Law, the Licence is a taking off the restraint laid on by Law, as to such Persons to whom the Grant is made, which is in favour of Trade, and to an act of favour all people are not entitled, and therefore may be given to one and not another, without injustice or injury: For His Majesty is not obliged to give Licence to any Person contrary to an act of Parliament, but by His Prerogative may dispense with that act, that dispensation being for the good of His Subjects, and He may choose whom He thinks fit to distribute His favours to.  
In this Trade there will be little or no hazard; sor, no bad debts need be made, the Wool being to be delivered before any money paid for it, and the Transportations into England may be made before the latter end of August or sooner, and all go in three Fleets, according to the number of Ports designed, which makes the risk of the Sea little or none in time of Peace; and in War His Majesty may order a sufficient Convoy for that short Voyage, without any prejudice to His other Affairs: Then Wool being a Staple and necessary Commodity, can never fail to sell within the compass of the year.  
This will be a great advantage to the People of Ireland, and to the Trade of England, whose greatest wealth the Woollen Manufacture would be, if restored to what it has been, or improved to what it may be.  
The People of Ireland's advantage will be in this, that they shall have a certain Market for their Wool, assoon as it is shorn, and ready money as soon as they deliver it; whereas they now sell commonly at six or nine months, and are forced to take Shop-goods at unreasonable rates for payment; and shall have as good pri●es for it in ready money, as they had before the late Dutch War, when they gave time, or took goods.  
The People and Trade of England will be advantaged in this, that all the Exported Wool of Ireland will certainly be carried into England, none into Foreign parts, which for private advantage is many times now Transported into France and Holland, to the unspeakable prejudice of England; whereby the Foreign Manufactures will be discouraged, and those of England flourish, and the East-land Trade; That with Turkey, Spain, Portugal, and Muscovy will be regained; and in time both the French and Dutch instead of Selling to Us, will be forced to Buy from Us; it being indisputably certain that French Wool is too course, and Spanish Wool too fine, without a mixture of English or Irish with each of these (for they will not mix with one another) to effect any thing considerable in the Trade of Woollen Manufacture: And of how great advantage and Glory this will be to the Crown of England is easy to guests, since 'twill fill the Kingdom both with Artists and Riches.  
Ireland will be under no necessity of endeavouring to raise the Manufacture at home, (which was the design of the Acts Prohibiting the Exportation of Wool) while they have a constant reasonable price at a certain published rate, and ready money paid for their Wool.  
Now, from what I have here Writ, you will easily with me make this Conclusion; that, if this Company should raise the price of Wool, yet the Cloathiers cannot reasonably complain, but rather the Merchant-Transporters, who buy the Cloth so much the dearer; nor yet they, since they sell it abroad accordingly; so that ultimately the profit tends to England, and the disadvantage (if there be any) to other Countries; it being evident, that the cheapness or dearness of Wool depends, not only on the Consumption at home, but on the Trade abroad of our Woollen Manufactures; which we shall vend at our own Rates, if France and Holland, (our Rivals in Trade) be disabled; which can't otherwise come to pass, than by a due prosecution of this design, which tends to the vast advantage of the Trading People, both Merchants and Handycraftsmen of this Nation; and consequently, is not only a Particular, but a very General good, and so intended by the Proposer.  
London, 15th. May. 1674. T. S.  
What power the Reason of this Letter had upon the Persons to whom writ, is plain by this Certificate, to which they offered, besides their own hands to have thousands more added.  
These are to Certify all whom it may concern, That Mr. T. S. hath communicated to Us of Blackwell-Hall, a Proposal, for the buying up in Company all the Wool of Ireland that shall not there be Manufactured, and for its Transportation into England only; that, We have considered the whole design, and the reason● for it, and are fully satisfied that this Country will not be over glutted by the whole Importation of Irish Wool, which by increasing the Manufacture of England, will in a little time raise the price of English Wool, and diminish the Woollen Manufacturies of France and Holland, from which Countries that this Company intends to hinder the Importations of Irish Wool is evident from this: That we, whose Interest it is to do so, resolve to be Members thereof; the constituting of which Company is the only practicable way to debar them from Irish Wool, and not improbably in a little time from English also, and consequently to lessen their Trade in that Commodity, which is now kept up by the mixtures of English and Irish Wool, without which their own will be very insignificant: That, while the Trade of Wool is managed by single Merchants, (the Transportations into Foreign Countries not being restrainable) the price of Wool in England and Ireland will rather fall then rise; That, the Manufacture of England will work up all the Wool of England and Ireland to better advantages, than a part of both, while the remainder is Transported into France and Holland; and that the Erecting of this Company tends to the advantage, not only of this particular Society, nor of the Clothiers, but of the whole Kingdom in general; the truth of all which We give under our hands from Blackwell-Hall.  
London, this 30th. of May; 1674. Subscribed, H. C. I. L. I. C. M. W. W. W. etc.  
Having these Reasons to persuade himself, he had undertaken nothing but what would be pleasing and profitable to both Kingdoms, he procured a Petition with this Proposal (as to the main) to be delivered to His Majesty, which received a favourable report from the two greatest Ministers of State, to whom it was referred; hereupon there was in Order to the passing of Letters Patents for the erecting this Company, a Letter framed to be sent from His Majesty to His Excellency the Lord Lieutenant of Ireland, in which, (among other things,) there was direction for putting a present stop to the Wool Licenses.  
When the thing was brought to this fair Issue, the Proposer (with all others that I could hear of) apprehended, there wanted nothing to the perfecting of his design; but gathering Their Subscriptions, who had before promised to be of the Company for the raising of the Stock; in Order to this, he went to the Change, where he met one of these Promisers, transformed into a great Opposer of the whole design. He was very loud and clamorous, and though he changed none from their Opinion of the thing, he frighted some from engaging in what he pretended would be opposed. How he came to be altered I will not determine, (though some do pretty probably assign his change to a fuller consideration of his private interest) but, give you the mighty Objections which he made by the mouth of another, with their Answers to 'um.  
It was Objected all in a breath, that this was a French design in the bottom, whatever the pretences were to the contrary, and by I know not what new Logic, this Objection was grounded on the giving the King 10000 l. a year, which by a better consequence, is an insinuation, that His Majesty is a Party in the plot, and could be persuaded by a trifle to connive at least, to the undoing of His two Kingdoms.  
That it was a Monopoly, and would engross the Exchange between England and Ireland, and in time all other Trades of Ireland; & that this Company could with more security carry the Wool into France and Holland, than single Merchants, and therefore it would be a greater prejudice to erect this Company, than to leave the Exportation at large as now.  
(1.) To the first Objection the Proposer Answered, that this was so far from being a French design, that directly or indirectly, never any French man was either spoken to, or concerned cern'd in it; he also affirmed, he set this business on foot, not to serve any person or party whatever; but was prompted to it, chiefly by the consideration of its being a public good, and then that it might be so regulated as it would prove a particular advantage to any that should engage in it; and had it been a French design, it had been unreasonable to believe it would have been proposed to the Cloathiers of England; to whom it was all along intended to have been communicated, and was so, when once it was known grantable, that They might advance the whole, or the biggest part of the Stock to carry it on.  
(2.) That it was not a Monopoly, he proved sufficiently in his Letter to them of Blackwell-Hall; to which he added, that nothing can be a Monopoly, but the engrossing into one or few hands a Trade or Commodity by Law left free to all men; and since only Wool of all the Commodities of Ireland is prohibited by Law to be thence Exported, even into England, this Grant is so far from being a Monopoly, that 'tis (if rightly considered) the greatest advantage imaginable to the Interest of England; since if His Majesty thought fit altogether to refuse Licence, (which none can deny, but He may do) 'twould prove greatly prejudicial to this Kingdom; and then, if it be further considered, that by this Grant, there is no more intended than instead of a 100 (supposing that the number of Merchants) taking Licenses singly, they should be obliged to take them joined in a Company as one man; and no man being excluded this Society, there can be no Prejudice nor Monopoly▪ But if this Company should engross the Exchange, which they can no otherwise do, than by giving and taking Bills at very reasonable rates; this moderating the Exchange, would prevent money being carried out of either Kingdom in Specie; which would be of great advantage, not only to this Company, but to others also; since the unreasonable height of Exchange is found very injurious to Trade.  
And as for this Companies Monopolising in time all other Trades of that Kingdom, This may be, I hope, satisfactorily said, that there is no Commodity in Ireland, except Wool, the Trade of which can legally be confined to a Company; besides, this Company aims at nothing else but the Trade of Wool, which will certainly be work enough for them to manage.  
The next Objection was, that the Transportation of Wool would not be more restrainable in Society, than while the trade remains in the hands of single Merchants; which would be fully Answered by any Person that considers, that if there be but one Exporter, such a fraud is easier discovered, than when there are perhaps 200 to commit it: But this Objection will fall, if it appear that it will be this Companies Interest (whether it consists of Cloathiers or others) to bring all the Wool into England only; in order to this, let the Reader consider what follows, and is transcribed almost word for word out of a little piece (which within these three days came to my hands) called The Interest of England in the improvement of the Trade of Wool, etc. writ by a Cloathier, whose words at large are here inserted as being more likely to gain belief.  
But so it is (says my Author) That for some years past, the diligence of Foreigners to enrich themselves upon us, has so far exceeded our care to preserve ourselves, that not only, Holland, Flanders, and Zealand have long sucked the sweetness of our Trade; but Fiance is likewise learning to be too hard for us, as is manifest by the great quantities of Wool that of late years have been Transported from England and Ireland thither; how injurious it must be to us, will appear unquestionable, if we consider that every Pack of Wool sent to▪ France does prevent us, not only of the Manufacture thereof, but of two packs more beside itself; it being combing and combed Wool for the most part that is Exported thither, the French having no Wools of their own, but such as are very course, and are not able to make Cloth or fine Stuffs, without the conjunction of ours therewith; there being none to my best information in all the World fit for that purpose, but ours only, except in North-Holland, and that a small quantity of fine worsted wol, all other being likewise course, but Spanish Wool, and that much too fine, especially for Worsted, Stuffs, and not in any wise fit for Combing; so that without Engl sh or Irish Wools there can be no quantity of fine Worsted Stuffs, nor a middle sort of Cloth made in the whole World. Neither will any Woll be all mixed together, but English and Spanish (and that for Cloth only) because the Spanish is with the English of one nature, only a little finer; and in proportion the same may be of the Spanish and Irish Wool; wherefore the exportation of English or Irish Wools into France, must of necessity be greatly prejudicial to this Nation, not only in the Quantity sent over, but also in the advantage which is hereby given to them to manufacture a double proportion of their own Wool (which otherwise would be little worth) into such Commodities, as spoil us of the advantages of our proper Trades, not only thither, but also into other Parts in these three Respects.  
1. The Combed of the English and Irish Wool makes Wooff for the warps of the French Wool (or rather of the Turkey Sheep) and so takes up, it may be, as much as the quantity above specified to every pack of our Wool, without which they can only with their own Wool make rugs, and at the best, Cloth for Seamen and the meanest Peasants.  
2. Their Combing or pinions (viz.) the short Wool that is Combed out of the Worsted serves for their Linen Warp to make some of their Druggets, because their Linen being fine spun, and coloured, is not discernible to all Persons to be what we call Linseywoollsey.  
3. The finest short English Wool is mixed with the lowest of Spanish Wool for some of their best Druggets, that is woven upon Worsted Chanies, and also for a middle sort of Broad Cloth, ●bout 10 or 12 s. per. yard. This is the cause, I judge, that short Spavish Wool is so scarce in England.  
Now if we consider these things together, the damage of Exporting one pack from England to France at about 10 or 12 l. Sterl. preventing the Mawfacturing of two packs more, which would be worth 100 l. England's loss in the whole can be little less than 160. l. it being generally combing Wool (as before hinted) that is Exported to France, which makes Worsted Stuffs, and Stockings; and besides the advantage given them by one pack of rough Wool, its obvious to all Manufactors, that a pack of Worsted or Combed Wool worth 20. l. at 12 score to the pack, which is 20 d. per pound, and make it more easy to every ordinary capacity; that in Stockens a● pound, of fine Wool would make at least two pair of Hose worth 5. s. a pair, that is 10. s. for a pound of Wool; or reckon thus, to ordinary Hose three pair to a pound of Wool, at 3. s. 4 d. per pair, comes to the same sum, and 12 score pound of Wool making a pack, and a pack of Wool making 480. pair of Hose, accordingly the pack makes 120. l. without any respect to the advantage given them in rough Wool. Moreover considering the Customs of the product, when Imported, it would double that sum, so that the Exportation of one pack of English or Irish Wool is 200. l. damage to the King and Country in general; the consequence of which will be the spoiling our Trade with France in woollen Manufactures, which (since the great Importation of our Wools thither) appears from the great Impost put upon the Same there; and will in time capacitate the French and Dutch to under-sell our English Merchants in Foreign parts, and possibly in our own Countries; so that the advantage we give them, besides in the mixtures of our Wools, which theirs is such, that whereas their Wool of itself is not worth 4 l. per pack, being mixed with ours, becomes so fit for Worsted Stuffs, as that it comes to be worth no less than 12 l. per pack: So that all these considered, it becomes obvious to every Eye, that the E 〈…〉 ortations of Wools from England and Ireland is of a dangerous and destructive Nature to the very being of the Trade of this Kingdom.  
Another necessary consequence of carrying Wool into France and Holland, will be to bring the price of Wool to be 6 d. per pound, as it was 300 years ago, when the Cloth then made in Flanders of our Wool at 6 d. per pound was sold here in England at 10 s. per yard; when at this day Cloth made in England of wol at 12. d. per pound, will hardly yield 7 s. per yard, which is above 30 per cent worse to the English Trade now, than it was to the Flemings formerly, which is solely occasioned by the French and Dutch, being able by much to under work, and consequently to under-sell us; whereas if the Wool was not Exported beyond Sea to those places, there to be Manufactured, they must of necessity buy our Woollen Manufacture, because they have not Wool enough of their own to supply their occasions, and that also they would want those advantages of improving by our Wools the French and short Spanish Wool, and their fine spun Linens. The difference of keeping our Wool at home, and sending it abroad appears hence, experience testifies, that when the Wool was all used at home, or very little Exported, the Wool was 18 d. per pound, and when all, or the greatest part was Exported, it was at 6. p.  
Much more very pertinent to this Design, may be gathered out of that discourse, as in the Preface; he tells of a Design proposed of allowing liberty to Export Wool out of Ireland into Foreign Countries, adding 2 d. or 3 d. per pound Custom; the disadvantage of which Act he there shows; as also that a Lord in the Committee for Wool, affirmed he was offered 100000 l. Sterl. to get an Act passed for the Transportation of Wool, which with what goes before, sufficiently testifies the great advantage the French gain, and we lose by their Manufacturing our Wool; to which I will add, that there being at least 10000 packs yearly Transported from England and Ireland, if not a great deal more, (of which we may allow the one half, if not more to Ireland) by this Authors computation, pag. 12. the Loss to England, in general, can be little less than Two Millions a year, and to the King in particular, 200000 l. which would otherwise be advanced in his Customs; which would easily prove true to any considerative Person that observes in these 10000 packs, there can be no less at the lowest Computation than 150000 Stone, 16 pound to the Stone, and 12 score pound to the pack, and that working up every Stone, is worth in very labour 50 s. which makes loss to the Tradesmen in Wages only, 375000 l. and since the French work up Wool much cheaper than we can, and also gain the advantage of making a double quantity of their own Wool useful by ours, they can afford to give greater rates for Wool than we do, and yet by at least two thirds under-sell us; the consequence of which will be the lowering the price of Wool both in England and Ireland, and beating us out of the Trade by our own weapons: Whereas, if we keep the Wool from them, we should then sell in Cloth the quantities of Wool, and two thirds more, which would be of vast profit to all people of this Country; prevent the Exportation of coin thither to balance that destructive (as now managed) Trade, increase Shipping and Navigation, and give full employment to all the poor of the Kingdom (with which it now swarms) this one Trade of Clothing using as many hands as perhaps all other Trades of the Nation, 27 persons being ordinarily employed to the working one Stone of Wool into Cloth.  
But at the worst, suppose (which none did ever yet that I could hear of) that France and Holland could make a shift without our Wool to clothe their Natives, we should at least gain the Trade of all other Parts of the World.  
Perhaps some men may fancy that France has no need of our Woollen Manufactures, because of the great Impost that King of late put on our clothes, which would soon be a burden to his own people, if the Tables were turned, and we kept our Wool; seeing then we should sell them our Cloth so much the dearer, it being indisputable, that if they need our Wool, they will much more our Cloth; which also will add to us an increase of Artists, because those Persons abroad wanting the materials for their Trade, will be under a necessity of learning new Arts, or going where they may be employed in their own (which is the most likely.)  
There is yet one thing not taken notice of, (viz.) The Companies giving His Majesty 10000 l. a year, which is done as a grateful recognition of His Majesty's particular favour to this Company, which sum I presume at very reasonable and moderate exchange would be raised by this Stock, or perhaps saved out of the very charge of the mannagement of this Trade. And it ought to be remembered that this is not the tieth of what was granted to be lost by the Exportations of Wool, which also will at length be paid by Foreigners; for 'tis certain, for the first, second, or third year the Wool was never intended to be sold dearer than it was in England before the late Dutch War, when in several hands, and after that time, when the French and Dutch stock of Wool is spent, the raising the price would be no prejudice to the Cloathiers.  
Besides this would discourage the French and Dutch by any sinister practices to endeavour the breaking this grant, since 'twould appear a Loss to the King's Revenue, as well as to all the People of England; for by how much the Subjects are impoverished, by so much is the Prince's power weakened; nor is it on any pretence whatever imaginable, His Majesty would ever be induced to break this Grant; since the great care He has already taken in securing the Wool within these Dominions, shows His Gracious Inclinations and readiness to effect it by any further way that should be proposed. And after a small time He in His Priucely Wisdom observing the vast benefit He and all His people would reap by this Act in the great advance of His Costoms and their Riches would by his own Example encourage the wearing of woollen Manufacture; and frequently issue forth His Proclamations for the due executing of all Laws tending thereunto; and particularly the prohibition of Foreign Manufactures, and the Law for Burying in Woollen, which sure is practicable, or else had never been made: If the Clergy be enjoined to Bury none otherwise, it will quickly become Customary.  
And now it may be concluded all the Objections are fully Answered: As to the practicableness of the thing, 'tis very easy, and the Stock not very great, which the Cloathiers among themselves may advance, or the greatest part of it; and They having their votes in the mannagement of it, cannot fear its miscarriage: though whether They be concerned or not, it is plain 'tis the Companies interest to secure the Importation of all Irish Wool into England, and likewise to prevent the Exportation of English, which may be done either by buying it all up, or by re-establishing Staple-Towns where only the Wool shall be sold, and the quantity Registered, with the Buyers and Sells names, by which it may be traced to the very Manufacture. And besides, that 'tis the Companies Interest (which will never lie) not to send any of their Wool abroad, They will further give Personal security (if required) not to Export any directly or indirectly into any Country but England, and be content the forfeiture of their Bonds be to Blackwell-Hall, or the Chamber of London, if it appears the number of Stones bought, and shipped in Ireland, be not actually landed in England the danger of the Seas only excepted.  
And to this purpose the Magistrates in the several Ports in Ireland may be obliged by an Act of Council to take yearly an exact account of all Wool bought by the Company, and fixing theirs & the Customhouse Seals, it may be sent into England, and compared with the number of Stones landed there; the Account of which may also be certified by the chief Magistrate of the City, as well as chief Officer of the Port; and unless these two Accounts do agree, the Bonds to be forfeited.  
It may be some will say, though the Company should not carry any abroad, yet others may, since the Wooll-growers have liberty to sell to whom they please: To which it is answered that it will behoove this Company to prevent this by all imaginable care not only in Ireland but England also, by watching the Ports abroad and at home: Besides, after the first year, there cannot be a flock of Sheep in Ireland which they may not know, and by that knowledge, easily find what becomes of of the Wool; and their private Intelligence at home and abroad will discover such Artifices, which (as things stand) can never be prevented, but by this Company, whose advantage it will be to stop all the ways of doing it.  
Now in case any dispute shall arise in distinguishing the several sorts of Wool, His Majesty may appoint in every Port three indifferent Persons chosen for Judges and skilful in Wool, whose sentence shall be definitive to both Buyer and Seller; and this will be no difficult matter when the Wool is divided into Combing and Clothing, which are easily distinguishable by their lengths: Now the Combing being of two sorts, of a fine hair, and a course hair, because the fineness of the one is countervailed by the length of the other, there is no difference made in the price proposed; but the Cloathing-Wooll being of two sorts more unequal, they are consequently differenced in value; the one sort is of a thick grown, clotty, and fine hair, the other of a thin grown spurt, or course hair. These three several sorts are to be of a years growth, Tarry, Yoaky, Matty, Sandy, and extraordinary course excluded: The qualities of the fell Wool are to be well sorted, well washed, and well dried.  
But if the People of Ireland think it troublesome to have their Wool sorted, as is constantly done in England, when there sold; there may be this course taken to give them content: It is agreed on all hands that the Wool of Tipperary is the best of Ireland, and 'tis generally known whose Wool is the best of all that County, which being ●ound, sufficient Patterns, may be yearly taken of that, and sent to the several Ports, which being concluded the Standard, shall be the measure of all the rest; what equals it to be of the same sort; that which comes nearer to it, or is further removed in goodness from it, to be the second and third sort.  
And if men imagine these Judges will not do equal Justice, by the same Analogy of Reason they must conclude so of all Judges, since upon the delivering their Commissions to them, they must be sworn to be just, and that they may not forget their Duty, the Oath may yearly be given them before the chief Magistrates of the City, and not only turned out, but punished on complaint and conviction.  
As for the three Ports designed in Ireland, Dublin, Waterford, and Cork, they are most conveniently Situated for all the Sheep walks of Ireland, and are those from whence all the Wool is Shipped now, except what is Transported for France and Holland, and what is Shipped from one or two Ports very near adjacent to these, and in the same Line Eastward, only for the greater conveniency of a few particular Merchants dwelling in those Ports. And that none may be Strangers to the Prizes offered, they were 10 s. 8 s.— 6 d. & 7 s. for the first, second, and third sort of Wool, in case the Wooll-growers would not divide their Wool into Combing & Clothing, which Rates were high enough when this proposal was first set on foot, before the conclusion of the Peace, when the best was not worth above 7 s. per Stone; and though these rates were judged sufficient by most of the Persons of Quality of Ireland, lately in England, and by some of them, too great, as well as by the People of England, yet it was intended by the Proposers for a full satisfaction to the People of Ireland, to give them, if they approved not of these, the same rates they received one year with another for the last 7 or 10 years, by making a computation of them altogether, and after dividing, to take the Quotient for the standing price, during the Term; which may be done at the Lent-Assizes, before the Grand Jury, they there producing sufficient proofs of the prices yearly received, or before others appointed for this matter. The occasion of this alteration was, that after the Peace, the Wool for a little while started to higher Prices, but fell again soon, insomuch that now the best Wool of Ireland may be bought at 8 s. & 8 s.— 6 d. as appears by several Letters from Ireland to Merchants here, and also by Certificates from thence under several men's hands, which confirm the former; and further add, that Wool will fall lower, if the Markets in England do not rise, of which 'tis said here, there is no probability. And that is likely enough, if it be considered that the Quantity of Wool is much more in England and Ireland, than it was seven years ago, and every year likely to increase; and that the woollen Manufactures are less, insomuch that great quantities of old Wool in both Kingdoms, even at this day, remain un-sold. To prevent which inconveniencies, both to England and Ireland, this honest Design was set on foot, which when rightly understood, will appear to be greatly the advantage of both Kingdoms. And since the several sorts of Wool are valued at such certain rates in those three Ports of Ireland, those who live at a greater distance from them, though the carriage of their Wool stands them in more; yet are equally dealt with, seeing the inequality is founded on this; that every Commodity of the growth or produce of that Country, and of every other, is so much the less worth in value, by how much farther they are from the chief seats of a Kingdom; and they have amends made by paying proportionably in the Rents of their Lands, as they are nearer or further from the Metropolis.  
'Tis possible one sort of men will yet Object against this Design, I mean those who deal more upon Credit than Stock; to satisfy whom, it may be answered, if their Credit● be good singly, it will be much more in Company; and this will not hinder their making use of their Credit a part, which if in Ireland will gain them Wool for their proportions of this Stock; if in England it will procure them money: And sure 'tis far better to trust these men, if associated in a Company, who intends to lessen the risk of the Sea, and to make the hazard less than when single; for then every Creditor is more an Adventurer than he, or at least as much; for if an accident at Sea or Land breaks him, the Creditor is a loser, who trusting him, entered into Society, runs very little or no hazard: But if this satisfy not, they may employ their Credit in some other Trade, and if they could not, and this do appear a public good, 'tis better a few, than all should suffer.  
Yours, June, the 10th. 1674.  
SIR,  
THe Zeal which I am convinced you have for the public good, & the love you bear to the Promoters of it in every instance, has prevailed with me in spite of my own lazy temper, to give you this long Relation of what has been done in Order to the Erecting this Wooll-Company. The Design was generously undertaken, and vigorously prosecuted; but the Proposer, to secure his Reputation (the only thing I dare say, he would not venture for the Public) after he had Answered all Objections to the full, excepting this one, that one or two disliked the Design (though they knew not why) did for the present at least, lay it down, and upon no other discouragement ceased prosecuting that Letter which I mentioned before was designed to the Lord Lieutenant of Ireland; and I believe will not reassume it, till it receive a general approbation from the people of Ireland, and encouragement from the Cloathing-men of this Nation; which if they refuse, 'tis reasonable to conclude, their out cries against Transportations of English and Irish Wool are unreasonable; that 'tis not the Transporting of Wool into Foreign Countries, which occasions the decay of Woollen Manufactures here, and consequently that all the Irish Wool which is not Manufactured at home, may be sent abroad, the Trade of England requiring no more Wool than its own growth; these consequences may be repent of, when the Evil is become incurable; though it has been often said by wise and knowing men, that it were England's advantage to have all the Wool of Ireland Imported hither, and that of England Manufactured within it self, though what was found Unmerchantable, when in Stuffs and Cloth (of which nothing is to be supposed will happen) were immediately set on fire, since of the remainder they would make sufficient profit to compensate that supposed Loss.  
SIR,  
I Have Writ all I designed, and more; and as I have undertaken this task, merely to gratify your Curiosity, so I submit what I have done to your Judgement, to be kept private, or communicated as you shall think fit; for that, and all, I am, are wholly  
FINIS.