more　sensible　of　the　like　losse；　if　the　hostile　depredations　heretofore　made；　had　not　supplied　the　same；　nothwithstanding　that　the　Coffers　of　Queene　Elizabeth　of　blessed　memory；　were　stored　with　seven　hundred　thousand　pounds　Starlin；　before　the　Warres　with　the　Earle　of　Tyrone　in　Ireland；　wherein　more　than　double　that　Summe　hath　beene　spent；　as　I　found　by　the　accompts。　For　this　disordred　couse　of　exchange　（as　I　have　said）　is　like　to　the　cruelty　of　the　Planet　Saturne；　which　maketh　his　Spheri　call　course　in　30　yeers　with　great　operation；　and　it　is　not　many　yeeres　lesse；　since　I　have　observed　this　inconvenience　for　the　good　of　the　Realme；　albeit　Envy　hath　crossed　the　same；　by　ignorant　men　denying　Principles；　and　by　other　meanes　here　not　to　be　mentioned。　　　　　　The　second　cause　of　the　want　of　Moneys　in　England；　is　（saith　the　said　Author）　the　Superfluity　of　Plate　generally　in　privat　mens　hands。　Here　he　hath　omitted；　to　Note　the　great　quantitie　of　Silver　consumed　in　the　making　of　Silver　Thread；　Spangles；　Purles；　Oaes；　and　the　like；　which　upon　late　examination　of　the　Right　Honourable　Henry　Vizcount　Mandeville　Lord　President；　are　found　to　amount　80　thousand　pounds　and　upwards　yeerely；　whereas　the　Plate　made　in　London；　is　only　but　50　or　60　thousand　pounds　worth；　which　remaineth　as　a　standing　Treasure；　when　th'other　is　worne　and　consumed；　leaving　but　some　part　to　be　molten　againe：　and　if　the　Plate　were　converted　into　moneys；　without　all　doubt；　it　would　more　easily　be　Transported；　having　his　weight　and　fineness；　and　affording　12　in　the　100。　Gaine　above　the　exchange　in　two　moneths　and　lesse　time。　　　　　　An　exchange　hereof；　wee　have　yet　fresh　in　memorie；　during　the　Raigne　of　the　French　King　Charles　the　ninth；　who　after　the　Massacre　of　Paris；　finding　the　Treasure　of　the　Realme　exhausted；　nad　his　Subjects　wealth　to　consist　more　of　Plate　then　of　ready　Money；　was　advised　by　some；　that　under　colour　of　the　Supressing　of　Pride；　it　were　good　to　prescribe　every　man；　what　store　of　Plate　he　should　keepe；　according　to　his　degree　&　qualitie；　&　the　rest　to　be　turned　into　moneys：　others　were　of　opinion；　that　it　would　nto　only　breed　a　discontent　unto　his　Subjects；　but　also　a　derogatin　and　dishonour　to　the　Kings　Reputation　with　forraine　Nations：　Seeing；　That　the　State　of　a　Prince；　doth　as　much　consist　by　reputation；　as　by　strength；　Therefore　like　good　Politians；　advised　the　King　somewhat　to　imbase　his　money　under　the　Standard　of　the　Plate；　which　would　cause　the　lesse　exportation；　and　the　Plate　（of　course）　to　bee　turned　into　money：　and　this　was　done　accordingly；　and　had　also　the　same　effect；　saving　that　where　they　thought　money；　would　not　be　Transported；　they　found　themselves　deceived；　for　the　course　of　exchange　was　not　looked　into；　which；　not　being　answered　according　to　the　true　values　of　the　moneys；　made　a　Gaine　by　the　undervaluation　of　them　in　exchange；　and　so　long　as　the　Gaine　remained；　it　was　continually　Transported；　whereby　at　last　the　Plate　of　the　Realme　（turned　into　money）　was　lost；　aswell　as　he　lost　his　money　before　that　time：　and　so　it　came　to　passe　in　England；　during　the　Raigne　of　King　Henry　the　eight；　who　Granted　several　Letters　Patents；　or　Authorities　to　divers　of　his　Nobles　to　make　base　moneys　of　their　owne　Plate；　which　did　fall　out　ot　be　the　greater　prejudice　to　the　Common…　wealth；　and　to　himselfe　but　a　present　shift　for　the　time。　　　　　　Concerning　the　Gold　and　Silver　thread；　I　have　heretofore　endevoured　to　have　the　Manufacture　thereof　in　England；　upon　plenty　of　money　and　Silver　to　bee　procured　from　forraine　parts　by　meanes　of　th'exchange。　But　finding　of　late　such　unreasonable　Consumption　of　silver　therein　spent　after　the　refining　thereof；　and　the　uncertainty　in　goodnnesse　by　the　Wier…drawers：　it　pleased　his　Majestie　with　the　advice　of　his　most　Honourable　privy　Councell；　to　forbid　the　same　lately　by　Proclamation；　and　to　admit　the　forraine　silver　Thread　to　come　in；　whereby　our　Silver　is　not　only　preserved；　but　the　quantity　also　is　increased；　because　after　the　wearing　a　good　part；　remaineth　in　burnt　Silve；　whereas　the　Silke　lace　is　consumed　to　nothing。　And　such　is　the　Gaine　of　Silver　beyond　the　Seas　（in　regard　of　the　lowe　exchange　by　Bills；　undervaluing　our　moneys；）　that　Purles　&　Oaeses　（in　some　sort　prepared　here）　have　been　（by　way　of　Merchandise）　Transported　of　purpose　to　melt　the　same　downe　there；　for　the　making　of　moneys；　as　I　have　seene　by　divers　Certificates　from　Dort　in　Holland。　　　　　　The　third　Cause　of　the　Want　of　Moneys　in　England；　is　the　Consumption　of　forraine　Commodities；　which　I　have　alwayes　called；　The　overballancing　of　those　Commodities；　with　the　native　Commodities　of　the　Kingdome；　in　Price；　and　not　so　much　in　the　quantitie。　And　the　comparison　hereof　is；　principally　to　be　made　in　the　Trade　of　cloth；　and　the　Returne　of　it；　made　by　Forraine　Commodities；　At　Silkes；　Linnen　cloth；　Cambrickes；　Lawne；　and　other　the　like　Commodities　brought　in　by　the　Merchants　Adventurours　which　have　the　Maine　Trade；　and　buy　these　Commoditis　（proportionably）　dearer　then　they　sell　our　home　Commodities；　which　I　have　proved；　by　many　reasons　to　proceed；　by　the　abuse　of　exchange；　according　to　which；　they　are　both　waies　sold　and　bought。　Is　there　any　man　of　judgement；　who　seeth　not；　That　this　overballancing　doth　expell　our　moneys　out　of　the　Realme；　and　which　are　（in　effect）　as　it　were　given　to　boote　to　other　Nations　to　Countervaile　this　inequalitie？　Let　them　consider　of　the　Reasons　following。　　　　　　First；　moneys　being　undervalued　in　exchange；　causeth　the　price　of　our　home　Commodities　to　be　abated；　and　to　bee　sold　better　cheape　in　forraine　parts；　&　is　also　the　cause　that　our　moneys　are　continually　Transported。　　　　　　Secondly；　the　moneys　being　Transported；　taketh　away　the　lively　course　of　Traffique　of　our　said　Commodities；　and　causeth　young　merchants　to　Runne　by　exchanges　upon　Bills　to　maintaine　their　Trade；　paying　great　Interest　for　money；　which　they　cannot　take　up　at　Use　upon　their　single　Bond；　as　they　can　doe　by　a　Bill　of　exchange；　without　Sureties。　　　　　　This　causeth　the　said　young　Merchants　and　others　to　make　rash　Sales　of　their　Commodities　beyond　the　Seas；　to　pay　their　Bills　of　exchanges；　whereby　they　overthrow　the　Markets　of　others；　and　make　them　to　Sell　good　cheape。　　　　　　So　on　the　contrary；　the　Coynes　being　over…valued　in　exchange；　and　also　inhaunced　beyond　the　Seas；　causeth　the　price　of　forraine　Commodities　to　be　increased　more　then　our　home　commodities；　and　our　Merchants　are　compelled　of　course；　to　make　Returne　thereby。　For　they　cannot　import　those　overvalued　moneys；　but　to　their　exceeding　great　losse；　and　by　exchange；　they　finde　few　Takers；　unlesse　it　be　our　young　Merchants；　which　doe　consume　their　Estates　by　exchanges　&　Rechanges：　For　of　the　Three　Essential　Parts　of　Traffique；　we　have　but　the　use　of　one；　which　is　the　buying　of　forraine　Commodities　to　make　Returnes　homewards；　and　doth　increase　the　consumption　of　the　said　Wares。　　　　　　Moneys　remaining　hereby　plentifull　beyond　the　Seas；　the　rather　for　that　they　make　Bills　obligatory；　serve　as　ready　Money；　which　they　Transferre　and　set　over　betweene　man　and　man　for　the　paiment　of　Moneys　or　Wares；　causeth　there　a　lively　course　of　Trade；　whereby　their　Commodities　are　advanced　in　price　&　sale；　neither　are　they　compelled　to　sel　them；　but　at　their　price；　because　they　finde　money　at　interest　at　5　and　6　in　the　hundred。　This　money　is　made　daily　more　plentifull；　by　our　Spanish　Merchants；　which　doe　divert　the　Realls　of　Spaine；　as　before　hath　beene　declared：　hence　it　proceedeth；　that　our　home　Commodities；　are　many　times　sold　beter　cheape　beyond　the　Seas　then　here；　for　although　Merchants　doe　lose　thereby；　they　make　account　to　gaine　more；　by　the　low　exchange；　delivering　their　moneys　there；　or　taking　of　them　up　here　by　exchange；　to　pay　their　Bills　of　exchange　at　an　undervalue：　insomuch；　that　many　Merchants　having　no　commodities　there；　may　take　up　money　here；　and　sending　over　the　same　in　specie；　will　pay　there　with　their　Bill　of　exchange；　and　Gaine　（by　dexteritie　of　wit）　15　in　the　hundreth　in　lesse　than　two　moneths　time。　Thus　when　Gaine　is　practised　by　exchange；　the　Commodities　of　the　Realme　are　less　vented；　and　the　moneys　are　exported；　which　causeth　the　lesse　employment　here　to　be　made　upon　our　Commodities：　Even　as　the　importation　of　moneys　being　hindered　（by　the　inhauncing　of　the　Coynes　beyond　the　Seas：）　compelleth　our　Merchants　to　make　the　greater　employment　upon　forreine　Commodities　at　deere　Rates。　　　　　　For　the　Commodities　beyond　the　Seas；　are　in　the　hands　of　them　that　make　sale　of　them；　upon　a　certaine　price　（as　it　were）　at　their　pleasure；　having　Plenty　of　Money；　at　a　cheape　Rate　at　interest；　whereas　also　they　have　no　man　to　undersell　them；　here　and　there；　as　our　Merchants　doe　our　Commodities；　which　（without　all　comparison：）　are　farre　much　fallen　in　price；　then　the　forraine　Commodities　now　somewhat　abated　in　price。　　　　　　Concerning　other　Commodities　imported；　As　Wines；　Raisons；　Corints；　Tobacco；　and　Spices　of　the　East　Indies：　Let　us　briefely　observe；　that　the　Wines　of　France　might　be　bought　better　cheap；　if　the　money　of　the　Realme　were　not　undervalued　in　exchange；　for　wheras　heretofore　they　gave　us　in　payment　their　French　Crowne　of　Gold　for　64。　Soulx；　now　they　give　us　the　same　at　75　Soulx；　which　Crowne　was　then　worth　6　shillings；　6　pence　S