The　Maintenance　of　Free　Trade
  by　Gerard　de　Malynes
  1622
  The　Maintenance　of　Free　Trade；　According　to　the　Three　Essentiall　Parts　of　Traffique；　Namely　Commodities；　Moneys　and　Exchange　of　Moneys；　by　Bills　of　Exchanges　for　other　Countries。　Or　answer　to　a　Treatise　of　Free　Trade；　or　the　meanes　to　make　Trade　floushish；　lately　Published。
  Contraria　iuxta　se　Pofita　magis　Elucescunt。
  by　Gerard　Malynes　Merchant。
  London；　Printed　by　I。L。　for　William　Shefford；　and　are　to　be　sold　at　his　shop；　at　the　entring　in　of　Popes　head　Allie　out　of　Lumbard　Street；　1622。
  To　The　Most　High　and　Mighty　Monarch；　James；　by　the　grace　of　God；　King　of　great　Britaine；　France　and　Ireland；　Defender　of　the　Faith；　etc。
  Traffique；　（Most　Dread　and　gracious　Soueraigne）　by　Nature　Admirable；　and　by　Art　Amiable；　being　the　Sole　peacible　Instrument；　to　inrich　Kingdomes　and　Commonweales：　may　properly　be　called；　The　Praeheminent　Studie　of　Princes；　the　rather；　because　the　Sacred　wisdome　hath　approued　this　Axiom：　That　a　King　is　miserable　（how　rich　soever　he　be：）　if　he　Raignes　over　a　poore　people；　and　that；　that　Kingdome　is　not　able　to　subsist　（how　Rich　and　Potent　soever　the　people　be：）　if　the　King　bee　not　able　to　maintaine　his　Estate。　Both　which；　（being　Relatives）　are　depending　upon　Traffique　and　Trade；　which　is　performed　under　Three　Simples　or　Essentiall　parts；　namely；　Commodities；　Moneys；　and　Exchange　for　Moneys　by　Bills。　Whereupon　having　lately　perused　a　Treatise　intituled　Free　Trade；　or；　The　meanes　to　make　Trade　flourish；　wherein　the　Author；　either　ignorantly　or　willfully；　hath　omitted　to　handle　The　Predominant　Part　of　Trade；　namely；　the　Mystery　of　Exchange：　which　is　the　Publike　measure　between　us　and　other　Nations；　according　to　which；　all　our　Commodities　are　bought　and　sold　in　forraine　parts：　his　only　Scape　being；　to　have　the　Money　of　the　Kingdome　inhaunced　in　price；　and　the　forraine　Coynes　made　Currant　within　the　Realme　at　high　Rates。　（whereby　great　inconveniences　will　follow：）　I　could　not　but　bee　moved；　both　by　my　faithfull　alleagence　due　unto　your　Majestie；　and　the　observant　duty　owing　by　mee；　to　the　Publike　good：）　To　make　an　answere　to　the　materiall　points　of　the　saide　Treatise；　by　comparing　things　by　contraries　for　the　better　illustration；　the　rather　for　that　it　was　published　in　Articulo　temporis；　when　your　Majesties　vigilant　Princely　Care；　had　been　pleased　to　referre　the　Consideration　of　this　important　businesse　of　State；　to　the　Learned；　Lord　Vizcount　Maundevile；　Lord　President　of　your　Majesties　most　Honourable　Privy　Councell；　and　other　persons　of　knowledge　and　experience：　amongst　whom　（although　unworthy）　my　selfe　was　called；　and　our　opinions　were　certified　unto　your　Highnesse。　　　　　　For　the　Consideration　of　this　weighty　matter　of　great　Consequence；　is　absolutely　to　be　submitted　unto　your　High　Wisedome　and　Transcendent　judgement；　by　means　whereof　（according　to　the　saying　of　Epictetus　the　Philosopher；　Hoc　est　Maxime　iudicis；　Aptare　Vniuersalia　singularibus；）　All　Causes　both　Ecclesiasticall　and　Civill；　are　observed；　discerned　and　applyed　to　their　proper　and　determinate　ends。　　　　　　Your　Majestie　therefore；　may　bee　pleased　to　vouchsafe　（with　a　gracious　aspect）　the　reading　of　this　small　Treatise；　which　（like　unto　the　little　fish；　mentioned　by　Plutarch；　swimming　before　the　great　Whale；　giving　notice　of　dangerous　shallow　places；）　shall　be　amply　explained　in　a　Volume　（almost　imprinted：）　intituled　Lex　Mercatoria；　or　the　Ancient　Lawe　Merchant；　which　（in　all　humility：）　is　to　bee　presented　unto　your　most　Sacred　Majesty；　wherein　in　the　dangerous　Rockes；　（to　be　avoyded　in　the　Course　of　Traffique；　and　the　means　thereunto　conducing：）　are　manifested　for　the　preservation　and　augmentation　of　the　wealth　of　your　Highnesse　Realms　and　Dominions；　to　bee　effected　by　the　Rule　of　iustice　grounded　upon　AEquality　and　Aequity　according　to　ius　gentium；　which　is　chiefly　maintained　by　the　Lawe　Merchant。　The　knowledge　whereof；　is　of　such　moment；　that　all　other　Temporall　Lawes　（without　it）　are　not　complete；　but　imperfect。　　　　　　Worthy　of　commendation；　are　those　offices；　who　can　by　Providence　preserve　the　Treasure　of　Kings　and　Commonweales；　worthier　are　those　that　both　（by　honest　and　lawfull　meanes）　can　preserve　and　augment　them：　but　worthiest　of　all　immortall　praise；　are　these；　who　can　and　doe　（by　easie；　just；　and　Politike　meanes）　inrich　Kingdomes　and　Common…weales；　and　thereby　fill　the　Princes　Coffers　with　standing　Treasure；　to　serve　all　occasions　in　the　two　seasons；　which　Princes　are　to　care　for；　（observed　by　the　Emperour　Iustinian；）　namely　the　Time　of　Warre；　when　Armes　are　necessary；　and　the　time　of　Peace；　more　fitting　wholesome　Lawes。　In　the　Theoricke　Part　of　which　Study；　I　have　these　forty　yeares　spent　much　time　and　charges　at　the　pleasure　of　great　personages：　and　albeit　nothing　did　encounter　mee　but　ingratitude；　yet　my　constancy　to　spend　the　Remainder　of　my　dayes　therein；　（in　hope　of　Practise；）　is　as　immoveable　as　the　continuance　of　my　daily　prayers；　to　the　Great　Iehovah；　to　multiply　your　Majesties　dayes　as　the　dayes　of　heaven。　　London　the　25　of　October；　1622　Your　Majesties　most　Loyall　Subject　Gerard　Malynes。
  The　Maintenance　of　Free　Trade；　According　to　the　Three　Essentiall　parts　of　Traffique；　namely；　Commodities；　Monyes；　and　Exchange　of　Monyes　by　billes　of　Exchanges；　for　other　Countries。
  Natural　Mother　wit；　did　teach　man；　before　Arts　or　Sciences　were　invented；　that　of　all　things　and　in　all　humane　actions：　the　Beginning；　Progresse；　Continuance　and　Termination　or　End　is　to　bee　observed；　whereupon　Politicians　or　Statesmen　have　noted；　that　the　often　comparing　of　a　thing　unto　his　Princple　or　Originall　produceth　the　longer　continuance；　shewing　（by　digression）　how　the　same　is　decayed　and　may　bee　reduced　to　the　first　integrity　and　goodnesse。　For　there　was　never　any　thing　by　the　wit　of　man　so　well　devised；　or　so　sure　establihed；　which　in　continuance　of　time　hath　not　bin　corrupted。　　　　　　The　consideration　whereof　is　most　requisite；　in　the　reformation　of　the　course　of　Traffique；　as　a　matter　eminent　for　the　good　and　welfare　of　Commonweales；　and　especially　for　England。　Quia　vita　civilis　is　societate　posita　est；　Socretas　autem　in　imperio　&　commercio。　　　　　　According　to　this　rule；　let　us　observe；　that　all　the　Traffique　and　Trade　betweene　us　and　forraine　nations；　is　performed　under　three　Simples；　which　are　the　essential　Parts　therefo；　namely；　Commodities；　Monyes；　and　Exchange　of　money　by　Bills　for　forraine　Parts；　which　may　be　aptly　compared　to　the　Body；　Soule　and　Spirit　of　Traffique。　　　　　　The　First　as　the　Body；　upheld　the　world　by　Commutation　and　Bartring　of　commodities；　untill　money　was　devised　to　be　coyned。　　　　　　The　Second；　as　the　Souls　in　the　Body；　did　infuse　life　to　Traffique　by　means　of　Equality　and　Equity；　preventing　advantage　betweene　Buyers　and　Sellers。　　　　　　The　Third；　as　the　Spirit　and　faculty　of　the　soule　（beeing　seated　every　where）　corroborateth　the　Vitall　spirit　of　Traffique；　directing　and　controlling　（by　just　proportions）　the　prices　and　values　of　commodities　and　monyes。　　　　　　Now　even　as　monyes　were　invented　to　bee　coyned　of　the　purest　mettals　of　silver　and　gold　to　bee　the　Square　and　Rule　to　set　a　price　unto　all　commodities　and　other　things　whatsoever　within　the　Realme；　and　therefore　called　Publica　Mensura：　even　so　is　exchange　of　monyes　by　Bills；　The　Publike　Measure　between　us　and　forraine　countries；　according　to　which；　all　commodities　are　bought　and　sold　in　the　course　of　Traffique；　for　this　exchange　is　grounded　upon　the　weight；　fineness　and　valuation　of　the　money　of　each　countrey：　albeit　the　price　thereof　in　exchange　doth　rise　and　fall　according　to　scarcity　and　plenty　of　money；　and　the　few　or　many　deliverers　and　takers　thereof。　　　　　　These　three　essential　parts　of　Traffique　are　to　bee　considered　joyntly　and　divided　for　the　good　of　Commonweales　in　the　benefite　to　be　procured　for　the　generall　welfare；　or　for　the　particular　profit　of　some　few　persons；　for　albeit　that　the　generall　is　composed　of　the　particular：　yet　it　may　fall　out；　that　the　general　shall　receive　an　intollerable　prejudice　and　losse；　by　the　particular　and　private　benefite　of　some：　These　（in　this　respect）　are　not　to　be　regarded；　especially　if　they　may　make　the　like　benefite　（in　some　measure）　without　hurt　or　detriment　to　the　generall。　　　　　　Some　Merchants　doe　deale　all　for　Commodities；　others　for　Monyes；　and　other　some　altogether　for　Exchanges　or　all　three；　or　that　which　yeeldeth　them　most　gaine：　and　commonly　without　consideration　had　of　the　good　of　the　Commonwealth；　which　is　the　cause　that　Princes　and　Governours　are　to　fit　at　the　stern　of　the　course　of　Trade　and　Commerce。　　　　　　For　to　speake　ingeniously；　Merchants　cannot　enter　into　consideration　of　the　quantity　of　forraine　commodities　imported　at　deare　rates；　and　the　home　commodities　exported　at　lesser　rates　Respecitively　in　former　time；　by　the　disproportion　whereof　commeth　an　evident　overballancing　of　commodities。　Merchants　doe　not　regard；　whether　the　monyes　of　a　Kingdome　are　undervalued　in　forraine　parts；　whereby　our　monyes　are　exported；　when　the　exchange　doth　not　answer　the　true　value　by　Billes；　and　the　monyes　of　other　countryes　cannot　bee　imported；　but　with　an　exceeding　losse；　which　every　man　shunneth。　True　it　is；　that　they　observe　within　the　Realme　to　keepe　the　p