more　gaine；　because　of　the　small　gaine　or　losse　either；　had　upon　their　Clothes；　whereby　the　Common…wealth　is　impoverished。　　　　　　To　sell　our　Cloth　so　good　cheape　beyond　the　Seas；　that　other　Nations　may　make　a　Trade　thereby　for　Russia；　Eastland；　Barbary；　and　other　Countries；　to　the　great　hinderance　of　the　Merchants　of　those　Societies。　　　　　　To　abate　the　Customes　and　Impositions　here　laid　upon　Clothes；　to　the　end；　they　may　sell　them　better　cheape；　by　underselling　others。　　　　　　To　undersell　our　Clothes　so　much　in　price；　that　in　comparison　of　the　Cloth　made　beyond　the　Seas；　the　Drapery　there　bee　given　over；　without　regard　had；　how　to　Returne　some　money　and　Bullion；　but　by　tranferring　of　their　Bills　of　debt　for　forraine　Commodities；　to　over…lade　the　Kingdome　with　them　at　deere　Rates；　according　to　the　inhauncing　of　their　Coynes；　all　which　may　prove　beneficiall　to　them　in　particular；　but　wonderfull　prejudiciall　to　the　whole　Kingdome。　　　　　　Now；　before　we　come　to　intreat　of　the　Remedies　for　all　the　afore…said　inconveniencies；　it　is　most　necessary　to　examine　the　Defective　Meanes　and　Remedies；　which　have　beene　tried；　these　350　yeeres。　And　these　may　be　distinguished　in　their　proper　and　severall　natures；　three　manner　of　waies；　for　the　wealth　of　a　Kingdome　cannot　properly　decrease　but　by　selling　our　native　Commodities　too　good　cheape；　by　buying　the　forraine　Wares　too　deere；　and　by　the　exportation　of　our　moneys　in　specie；　or　by　way　of　exchange　for　moneys　by　Bills。　　　　　　1。　First；　the　Statute　of　Employment　made　for　Merchants　Strangers；　for　3　3spciall　causes。　1。　The　advancing　of　the　price　and　sale　of　our　native　Commodities。　2。　To　prevent　the　over…　ballancing　of　forraine　Commodities　And　3。　To　preserve　the　moneys　within　the　Realme。　　　　　　2。　The　lodging　of　Merchant　Strangers　with　free　hoasts；　who　had　an　inspection　of　their　negotiations　for　Commodities　and　moneys。　　　　　　3。　The　keeping　of　Staples　for　Woolls；　Woolsels；　and　other　Commodities　beyond　the　Seas；　with　the　Correctors　and　Brokers　to　Register　the　buying　and　sellings　of　Strangers。　　　　　　4。　To　cause　Denizons　to　pay　Strangers　Customes。　　　　　　5。　The　Sunday　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；　concerning　the　same；　and　the　Articles　of　entercourse。　　　　　　7。　The　prohibition　to　export　Commodities；　but　at　great　Ports。　　　　　　8。　The　prohibition　for　Strangers　to　sell　Wares　by　Retaille。　　　　　　9。　The　prohibition　for　English　Merchants　to　ship　in　strange　bottomes。　　　　　　10。　The　Transportation　of　money；　made　fellony　by　Act　of　Parliament。　　　　　　11。　The　attendance　of　Searchers；　Waiters　and　other　Officers。　　　　　　12。　The　informaitons　in　th'Exchequer　and　other　Courts。　　　　　　13。　The　Swearing　of　the　Masters　of　Ships；　about　moneys。　　　　　　14。　The　Reformation　of　the　over…heaviness　of　our　pound　Troy　of　12　ounces；　in　the　Tower　of　London。　　　　　　15。　The　Reformation　of　the　over…richnesse　of　our　Starlin　Standard。　　　　　　16。　The　Alteration　of　the　proposition　betwixt　Gold　and　Silver。　　　　　　17。　The　making　of　more　prices　out　of　the　pound　Troy。　　　　　　18。　The　inhauncing　of　Silver　and　Gold　Coynes　in　price。　　　　　　19。　The　imbasing　of　money　by　Allay　of　Copper。　　　　　　20。　The　use　of　several　Standards；　and　the　Reducing　of　them　againe　to　Two　Standards　of　Gold　and　Silver。　　　　　　21。　The　increase　of　Coynadge　money　to　hinder　exportation。　　　　　　22。　The　prohibition　to　cull　out　heavy　pieces　to　export。　　　　　　23。　The　banishing　of　light　Spanish　money　out　of　the　Realme；　and　light　Gold　to　be　molten　downe。　　　　　　24。　The　giving　more　for　Bullion　in　the　Minte。　　　　　　25。　The　prohibition　of　Gold　smiths　to　buy　Bullion。　　　　　　26。　The　making　of　the　principall　forraine　Coyne；　currant　in　England。　　　　　　27。　The　binding　of　Merchants　to　bring　in　Bullion。　　　　　　28。　The　prohibition　to　pay　Gold　to　Merchant　Strangers。　　　　　　29。　The　prohibition　to　take　Gaine　upon　Coyne。　　　　　　30。　The　Bullion　delivered　in　the　Minte　by　weight；　to　be　restored　in　Coyne　by　Tale。　　　　　　31。　The　inhauncing　of　Gold；　and　undervaluing　of　Silver。　　　　　　32。　The　punishment　of　the　Transporters　of　money；　by　great　Fines　in　the　Star…chamber。　　　　　　33。　The　prohibition　by　Acts　of　Parliament；　to　make　exchange　for　money　by　Bills　for　forraine　parts　without　the　Kings　Licence。　　　　　　34。　Money　delivered　to　Sir　Thomas　Gresham　Knight　out　of　th'Exchequer　to　Rule　the　course　of　exchanges。　　　　　　35。　The　Officer　of　the　Kings　Royall　exchanger；　never　put　in　practise；　since　the　merchandising　exchange　began；　whereof　there　was　two　Offices；　namely；　Custos　Cambij　Regis；　erected　by　King　Edward　the　first　in　the　11　yeere　of　his　Raigne；　and　Custos　Cambij　infra　Turrim：　which　were　both　put　into　one　mans　hands；　by　a　Law　made　in　the　Time　of　K。　Henry　the　Sixt：　so　that　all　the　precedent　meanes；　have　beene　found　defective　&　fruitlesse；　as　more　particularly　may　be　proved；　by　divers　Records　and　observations：　The　Coppies　whereof　aare　in　my　custodie；　to　doe　his　Majestie　all　dutifull　and　acceptable　service。　　　　　　Here　we　are　to　observe；　that　the　Statute　of　employment　to　be　Defective；　appeareth　more　manifestly　at　this　time；　when　Merchants　as　well　English　as　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　that　money　in　specie；　and　become　a　great　Gayner　thereby；　insomuch；　that　if　I　receive　here　one　hundreth　Pieces　of　20　shillings；　I　can　send　90　Pieces　to　pay　by　Bill　of　exchange；　and　put　10　Pieces　in　my　Pocket　for　an　overplus　and　gaine。　The　like　may　be　done；　by　making　over　money　from　beyond　the　Seas；　to　be　paied　here　by　exchange；　which　being　received；　I　can　Transport　with　15　upon　the　hundreth；　gaines　in　two　moneths　and　less；　advancing　thereby　an　hundreth　upon　the　hundred　in　a　yeere：　which　exceedeth　all　the　benefit　to　be　made　by　Commodities；　wherewith　I　need　not　to　entermeddle；　neither　can　the　said　Statute　be　any　helpe　herein；　to　avoide　the　same。　　　　　　Concerning　moneys；　which　doe　consist　of　weight；　fineness　&　Valuation；　it　is　evident；　that　Gold　and　silver　are　but　materials；　and　in　the　nature　of　Bullion；　but　Valuation　is　the　Spirit　which　giveth　life。　This　Valuation　is　twofold；　the　one　by　the　Publicke　Authority　of　Kings　and　Princes；　the　other　by　the　Merchants　in　the　course　of　exchange；　and　this　is　Predominant　and　over…ruleth　the　Kings　Valuation：　for　when　the　King　hath　valued　the　shilling　piece　of　Starlin　money　at　12　pence；　they　doe　undervalue　the　same　at　11　pence　halfe　pennie；　or　11　pence；　which　undervaluation　causeth　the　continuall　exportation　of　our　moneys；　and　is　the　hindrerance　of　importation　of　moneys　and　Bullion；　as　wee　have　so　often　inculcated；　to　make　the　motive　stronger　to　produce　a　sufficient　Remedy；　as　followeth。
  Chapter　V
  Of　the　Remedie；　for　all　the　former　causes　of　Decay　of　Trade。
  Having　hitherto　observed　the　Methode　of　the　said　Author；　inpart　of　his　Distribution　in　the　matter　and　forme　of　Trade；　and　therein　shewed　very　great　deformities：　I　am　now　to　apply　the　True　Remedies　likewise　in　order；　according　to　the　cuases　alleaged；　which　are　noted　by　me　to　be　tenne　in　number。　　　　　　The　Efficient　cause　of　the　Transformation　of　our　Moneys　is　（Gaine）；　and　this　Gaine　ariseth　by　the　undervaluing　of　our　moneys；　in　regard　of　the　inhauncing　and　overvaluation　of　forraine　Coyne；　so　that　the　cause　is　Extrinsike　&　comprised　under　the　said　exchange　of　moneys；　andnot　intrinsicke；　in　the　weight　and　fineness　of　the　Coyne；　which　are　considered　in　the　course　of　True　exchange　betweene　us；　and　forraine　Nations；　and　thereupon　it　followeth；　that　neither　difference　of　weight；　finenesse　of　Standard；　proportion　betweeen　Gold　and　Sivler；　or　th　proper　valuation　of　moneys；　can　be　any　ture　causes　of　the　exportation　of　our　moneys；　so　long　as　a　due　course　is　held　in　exchange；　which　is　founded　thereupon。　　　　　　Hence　ariseth　the　facilitie　of　the　Remedie；　by　the　Reformation　of　exchange；　in　causing　the　value　of　our　money　to　be　given　in　exchange；　which　cutteth　off　the　said　Gaine；　had　by　the　said　exportation；　and　causeth　（in　effect）　that　the　forraine　Coyne　beyond　the　Seas；　shall　not　be　received　above　the　value；　although　the　inhauncing　therefore；　or　the　imbasing　by　allay　were　altering　continually。　For　take　away　the　cause　（Gayne）　and　the　effect　will　cease。　　　　　　All　men　of　common　understanding；　when　they　doe　heare　of　the　raising　of　moneys　beyond　the　Seas；　are　ready　to　say；　we　must　doe　the　like；　for　they　conceive　the　saying　of　Cato；　Tu　quoque　fac　similie；　sic　Ars　deluditur　Arte；　to　be　a　proper　application　hereunto：　but　they　doe　not　enter　into　consideration；　what　Altherations　it　would　bring　to　the　State；　and　that　the　matter　might　runne；　Ad　infinitum；　as　shall　be　declared。　　　　　　But　let　us　suppose；　that　this　will　be　a　sufficient　Remedy；　to　inhaunce　our　moneys；　as　they　doe　theirs；　to　imbase　our　Coyne；　as　they　doe　theirs；　and　to　imitate　overvaluation　and　undervaluation　of　Gold　and　Silver；　as　they　doe；　requiring　a　continuall　laboure；　charge；　and　innovation；　is　it　not　an　excellent　thing　that　all　this　can　be　done　by　the　course　of　exchange；　with　great　facilitie？　And　that　without　inhauncing　of　our　moneys　at　home；　or　medling　with　the　weight　and　finenesse　of　the　Starlin　Standard？　　　　　　This　is　to　be　done　only　by　his　Majesties　Proclamation　according　to　the　Statutes　of　exchanges；