^{page 199 note 1} SirMaddison, Ralph, ‘Note concerning the helpes of trade,’ 07 1623Google Scholar. Add. MSS. 34324.

Seeley, , Growth of British Policy, vol. i. p. 248Google Scholar: ‘Except in Ireland the wars of Elizabeth were to her people almost like peace … within the country there were few signs of a state of war … nor were the pursuits of peace suspended. … The naval war, so far from checking the development of the nation, was the very ferment which promoted it,’ &c.

^{page 200 note 1} Rogers, Th., Industrial and Commercial Hist, of England, p. 89Google Scholar. Indirectly as well as directly the wars of religion &c. furthered the rise of the Dutch as a commercial nation. ‘Flanders was ruined by Alva, the Spanish Inquisition, and the wars of religion. But the ruin of Flanders was the making of Holland.’

^{page 202 note 1} An example of this occurred early in the reign, when, after the treaty with Spain was arranged in 1604, and trade with Spain was re-established, English merchants in Spain were maltreated at the hands of the officials of the Inquisition, and though many complaints were made, James would not take active steps for their assistance, not wishing to risk a rupture with Spain. The treaty had the important indirect effect of bringing about the truce between Spain and the Low Countries in 1608, by which the Dutch were freed temporarily from the pressure of war, and so enabled to devote their energies to the expansion of their trade, thus becoming more formidable rivals of England.

^{page 204 note 1} D. S. P. Jac. i., May 1603.

^{page 204 note 2} Patent for collecting fines of alnage of new draperies to the Duke of Lennox.

^{page 205 note 1} C. J. vol. i. p. 253. ‘There was a great concourse of Clothiers and Merchants from all parts, and especially of London, who were so divided as that all clothiers and all merchants of England complained of engrossing of trade and restraint of trade by rich merchants of London, and of the London merchants three parts joined in the same complaint of the fourth part, and of the fourth part some stood stiffly for their own companies, yet repined at other companies.’ SeeGardiner, , Hist, of England, vol. i. p. 187Google Scholar.

^{page 207 note 1} In the discussion of the commercial clauses of the Union with Scotland the Commons shifted from their standpoint of liberty of trade. National jealousy and dislike of the Scotch inclined them to listen to the Merchant Adventurers and other great companies, who urged that complete liberty of trade would mean ruin for the English merchants. The king desired complete commercial equality between England and Scotland. His speech to Parliament, 1607, on the subject is interesting: ‘And whereas some may think this Union will prejudice some townes and corporations, it may be that a merchant or two out of Bristow or Yarmouth may have 100l. less in his packe. But if the empire gaine and become the greater, it is no matter. You see one corporation is ever against another, and no private company can be set up without some loss to another.’ (Somers' Tracts, ii. p. 133–4.)

^{page 207 note 2} For a full discussion of the subject see Gardiner, , Camden Soc. vol. lxxxi. and Hall, The Customs Revenue of EnglandGoogle Scholar.

^{page 208 note 1} The cloth industry was chiefly carried on in these districts: (a) Kent, where broad cloths and mingled cloths of dyed wool were made. (b) Eastern counties, where long whites (i.e. undyed cloths), plunkets and coarse cloths were made. (c) Gloucestershire and western counties, where whites, plunkets and red cloths were produced. (Statute Book, 4 Jac. I, c. 2.) In all these districts colonies of Flemish, Dutch and Walloon artisans existed.

^{page 208 note 2} Cunningham, , Alien Immigrants, ch. iv. vGoogle Scholar.

^{page 208 note 3} This was repeatedly urged by the Merchant Adventurers in defence of their export of white cloths and raw materials.

^{page 209 note 1} The ‘thin end of the wedge’ had already been inserted by a licence to the Earl of Cumberland by the Queen for the yearly export of 2,000 cloths—a right which was promptly ‘sublet’ to merchants. The company complained in vain of the overlapping of their patent.

^{page 209 note 2} See Ehrenberg, , Hamburg and England, pp. 211–12Google Scholar. Stade was situated a little further down the river on the opposite bank from Hamburg. It was throughout this period a thorn in the side of its neighbour.

^{page 210 note 1} Cf. Battie, Merchants' Remonstrance. ‘There is no greater enemy to trade than war, be it in what country it will, our neighbours the Hollanders excepted, who by so long habit of war seem to make a trade of it.’

^{page 211 note 1} See Cotton MSS. Galba, E. i. fol. 344. ‘Declaration of the manufactures of these countries [i.e. dominions of the Archduke: and other manufactures carried out of the haven of Dunkirk to the realm of England from May 1, 1611–October 1, 1611.

‘Total value of goods exported to England, 299,521l. 15s. 8d.

‘Total value of goods exported to all other countries in the same time, 137,304l. 1s. 4d.

‘Total value of merchandizes conveyed into Dunkirk from England in the same time, 84,832l.’ (The list contains various kinds of cloth only, and ‘is followed by a Memorandum, that all Bayes and somme of the perpetuanos, durances, and coloured kersies are put directly towards Italy without being spent in the Archduke's countries.’)

‘Ballance. The manufactures of these countries and other merchandizes doe amount in Flemish money to 5,299,321l. 15s 8d.

‘The Summe of that which England spendeth more than all other countries, 162,017l, 14s. 4d.

‘The Summe of that which the merchandize of these countries doe amount more than those of England, 55,319l, 10s. 8d.

^{page 211 note 2} See Lansdowne MSS. 152, fol. 175, ‘Sir Lionell Crawford[sic, ?Cranfield], his ballance of Trade.’ This is calculated from the custom books of the Port of London, and covers the years 1605–1614. The figures show an extraordinary increase in the customs after 1611. Taking the years 1605–11 (inclusive) together, he reckoned the average annual excess of imports over exports at 34,366l. The excess for the year from Christmas 1612 to Christmas 1613 he reckoned at 346,283l. 17s. od. The excess for the year from Christmas 1613 to Christmas 1614 he reckoned at 413,644l. 17s. 5d.

Compare also statistics of exports and imports at Hamburg for the year 1611, given inEhrenberg, , Hamburg und England, pp. 354–357Google Scholar.

^{page 212 note 1} See Harl. MSS. 295, fol. 71. ‘Cloth is the chief manufacture of England, and Lawnesand Cambrics of the Archduke's dominions, therefore the King should banish lawns and cambrics.’ The Archduke, it is estimated, by his edict lost at the rate of 7,000l. per annum, but within a year he repaired that revenue by granting a'passport to a private man for the bringing in of 2,000 whites, for which double licence was paid. ‘His majestie by the banishing of Lawnes and Cambrics shall lose 5,000l. per an. (which is paid for the custom and imposition). But the revenue may be made up with treble so much if his Majestie wilbe pleased to observe the same course for the dispensing with the coming in of Lawnes and Cambrics, viz. after they have been banished four months, to grant a license to a private man for the bringing in of 25,500 pieces. The banishing of Lawnes and cambrics will so gawle the Archduke and his subjects,’ &c.…

^{page 212 note 2} See ‘Sir Lionell Crawford, his ballance of Trade.’

^{page 213 note 1} See Cœsar Papers, Add. MSS. 14027, fol. 271. ‘It is intended that not only all sort of clothyers, but all others whomsoever shall from tyme to tyme have free liberty to come and peruse the work at their pleasure whereby they may set the same up when and where they please.’

It was proposed that the king should assign to them, for the furtherance of the project, ‘the third part of money to be raysed by the sales of the lands tenements and hereditaments payable to his Majesty.’

^{page 213 note 2} Add. MSS. 14027, fol. 263. The question of the legality of the scheme to export dressed cloths in contravention of the charter of the Merchant Adventurers Company was disposed of by Sir E. Coke, who was an ardent supporter of the scheme, thus: the company in exporting only white cloths and raw materials had not fulfilled their charter, and ‘a charter gotten and not pushed loseth his force for things transportable for the Commonwealth's good.’

^{page 214 note 1} Printed in the Semers' Tracts, vol. ii.

^{page 215 note 1} See MS. Eg. 2651, fol. 24. ‘Certayne reasons why the Clothworkers Bill should not passe, objected by the clothiers in Essex.’ ‘We cannot vent nothing near all our clothes except we may sell them to the Merchant Adventurers, who will by no means buy them unless they may transport them undressed as heretofore. … Wherefore we pray that due consideration be had hereof, for yf our clothes lie on our hands unbought we must be driven to make much losse to the great hindrance of the clothiers and the poore of this Country.’

^{page 215 note 2} This new company was not incorporated by charter till 1615.

^{page 215 note 3} A commission of ten merchants for this purpose was appointed in April 1614, among whom were Sir Thomas Lake, Alderman Cockayne, W. Garraway, W. Harrison, Sir Daniel Dun, &c. Add. MSS. 14027.

^{page 216 note 1} Viz. in the first year (June 24, 1615–June 24, 1616), 6,000 cloths; in the second year (June 24, 1616–June 24, 1617) 12,000; in the third year (June 24, 1617–June 1618) 18,000.

^{page 216 note 2} Subject to the payment of 2s. 8d. per cloth to the Earl of Cumberland who still maintained the right granted by Elizabeth.

^{page 216 note 3} For arguments against the incorporation of the new company, see Cotton MSS. Galba E. I, fol. 287. Letter signed Ric. Gore, January 18, 1615.

^{page 216 note 4} Coke had only been admitted to the Privy Council in the autumn of 1613. He was disgraced and suspended from the Council June 1616. The king in his message to Council, January 14, 1615, stated ‘that my Lord Cooke held him in conference that the work [i.e. the dyeing and dressing of cloths] was very profitable to the state, and feasible as he thought, but in a little time.’ See Cæsar Papers, Add. MSS. 14027, fol. 263 et seq.

^{page 217 note 1} See Lansdowne MSS. 152, fol. 273, ‘Humble Remonstrance of New Company of Merchant Adventurers,’ September 11, 1616.

^{page 217 note 2} ‘Your Majesty shall supply outward vent with inward use, specially for finer cloths, which are those wherein the stand principally is, and which silk wearers are likest to buy … and your Majesty shall blow a horn to let the Flemings know your Majesty will not give over the chase. Again the winter season coming on is fittest for wearing cloth, and there is scope enough left for bravery and vanity by lacing and embroidery,’ and so on. Spedding, vol. vi. p. 73.

^{page 217 note 3} Spedding, vol. vi. p. 73.

^{page 217 note 4} Carew Papers, p. 70 (Cam. Soc. Pub. vol. Ixxvi.).

^{page 217 note 5} As an example of the minor hindrances in the way of trade, it is instanced among the charges of extortion against Suffolk at his trial in 1619, that he received 3,000l. from the Merchant Adventurers to suffer their renewed charter to pass, which could not be despatched before by reason of his (Suffolk's) opposition. See Spedding, vol. vi. p. 37.

^{page 218 note 1} See Parl. Hist. vol. i. p. 1192.

^{page 218 note 2} See D. S. P. Jac. 1, vol. cxxxi., June 22, 1622, and Stowe MSS. 554, fol. 46.

^{page 219 note 1} ‘Especially of the Eastland Company, which discouraged them to carry out cloth thither because they can neither sell for ready money nor barter for vendible commodities.’

^{page 219 note 2} The appointment of the standing committee was regarded as a sign that no new Parliament would be called for the time being. See D. S. P. Jac. I, vol. clxxxii., November 2, 1622; Sir F. Nethersole to Carleton.

^{page 219 note 3} See Add. MSS. 34324, fol. 201, ‘A Redy Course propounded for the establishing and certaine settling of the Manufacture of all manner of Draperies to be brought under government for the true and exact making of them,’ by Walter Morell.

^{page 220 note 1} See Diet. Nat. Biog. ‘Morrel (Hugh).’

^{page 220 note 2} On the other hand it was argued: ‘To add more persons to the Merchant Adventurers now would be to put more sheepe into one and the same pasture, which is to serve them all.’ See Cæsar's Notes, Add. MSS. 34324, fol. 195.

^{page 222 note 1} See State Papers, Colonial, vol. i. No. 1087.

^{page 223 note 1} See Carew Papers, Camden Soc. lxxvi. p. 77. Carew estimated that at least; 600,000l. would be necessary for this purpose.

^{page 224 note 1} See Carew Papers, Camden Soc. lxxvi. p. 77; D. S. P. Jac. 1, vol. xc. 24.

^{page 224 note 2} See Carew Papers, Camden Soc. lxxvi. p. 77, Letter iii.; D. S. P. Jac. I, vol. xc. 24. Carew writes: ‘Since there is such a madness in England as that we cannot endure home made cloth, but must needes be clothed in silk, itt cannot be gainsayed but the silkes bought at first hand is the best husbandry.’

^{page 224 note 3} Fortescue Papers, No. cli. Camden Soc. N.S. I. Sir Thos. Roe to Duke of Buckingham: ‘I have sett in order all their [i.e. the Levant Company's] affaires and revived their trade in such sort that I hope it shall bee both beneficial to the kingdom and to them, and an advance of his Majesty's customs. I have settled the peace with Barbary if it be not shaken again by want of small liberalities to maintain it.’

^{page 225 note 1} See S. P. Col. 1618. ‘The East India Company thought that the Levant Company ought to contribute to the great charge of calling in the Scotch patent.

^{page 225 note 2} Ibid. March 27, 1618. Each company was to supply 30,000l. yearly. It was hoped to gain additional trading privileges, both in Muscovy and for trade routes to Persia.

^{page 226 note 1} See Hist. MSS. Com. Appendix to the Third Report, p. 64 (6). Four papers, 1620, ‘Informations and observations that the East India Company are resolved to have and divide the trade.’ The trade is declared to be carried on at a loss to the adventurers. The writer attributed this largely to internal dissensions in the company; also to a want of protection on the part of the king of their privileges.

^{page 226 note 2} The massacre occurred on February 11, 1624.

^{page 227 note 1} The warrant was signed by Buckingham, October 1624.

^{page 227 note 2} See S. P. Col. vol. 1622–24, No. 527. They answered to the king's request that ‘they cannot conceive how with his honour it may be done. The condition of partnership in trade being beneath the dignity of a king.’ Prince Charles had been allowed to adventure 6,000l. in 1619.

^{page 227 note 3} See Thurloe Stale Papers, vol. ii. p. 592. 09 18, 1654Google Scholar. The Dutch granted 3,615l. ‘for the busines of Amboyna.’

^{page 229 note 1} See S. P., Foreign; Order of Salisbury to Customs officers, May 3, 1609.

^{page 230 note 1} See Rolfe, , Relation of Virginia, Purchas, 1617Google Scholar.

^{page 232 note 1} See Cowell's Interpreter. ‘Garbling of spice is nothing but to purifie it from the dross and dust that is mixed with it.’ In 1620 a commission was appointed who were to draw up orders for the garbling of tobacco before it was exposed to sale. See Rymer, , Foedera, vol. xvii. p. 190Google Scholar.

^{page 232 note 2} See Neill, E. D., History of the Virginian Company of London, p. 413Google Scholar. Letter, Chamberlain to Carleton, July 26, 1624. ‘The factions in these two companies (the Bermudas and Virginia Companies) are grown so violent, as Guelphs and Ghibellines were not more animated against one another…’ &c.

^{page 234 note 1} See Bacon, , Hist. of Henry VII. p. 93Google Scholar. ‘The king (by encouraging tillage) did secretly sow Hydras' teeth, whereupon rise up armed men for the service of the kingdom.’

^{page 234 note 2} See Cunningham, , Growth of English Industry and Commerce: Mod. Times, pp. 52, 53, footnotesGoogle Scholar.

^{page 234 note 3} Leadam, Domesday of Enclosures.

^{page 234 note 4} See P. R. O. Depopulation Reports, 5 Jac. I. I am indebted to Mr. Hall for having most kindly drawn my attention to the reports of this commission. Cases of enclosure within five or six years of the date of the inquiry are rare; the majority occur before 1595. The reports for the county of Northampton are of much greater length than those of the other counties.

^{page 235 note 1} See Diary of William Yonge (Camden Soc. vol. lxi.), and Rogers, Hist, of Agriculture and Prices. Great local variations of prices occurred. It is difficult to estimate the dearth of corn by the price, as a general rise in prices took place in the course of the reign; while in time of actual scarcity of money the phenomenon of dearth of corn and low prices was observed. See SirMaddison, R., ‘Note concerning the helpes of trade,’ 07 2, 1623Google Scholar, Add. MSS. 2434.

^{page 235 note 2} See Keymer, , Book of Observations touching Trade and Traffique beyond the Seas, 1620Google Scholar. Lansdowne MSS., 162.

^{page 237 note 1} See Soetbeer, , Edelmetallproduktion in Werthverhältniss zwischen Gold und Silber seit der Entdeckung Amerikas bis der Gegtnwart. Gotha, 1874Google Scholar.

^{page 239 note 1} Ruding, vol. i. p. 372, 1617. ‘By the death of Sir R. Martin, Master of the Mint, a stop was put on the working of the Mint, and those who brought bullion could not have it made into money.’

^{page 240 note 1} See Shaw, , Hist, of Currency, p. 152Google Scholar.

^{page 241 note 1} See D. S. P., Jac. I, vol. lxix. 8.

^{page 241 note 2} He goes on: ‘For yf the shillinge should be raysed to thirteene or fourteene pence, the merchant and vittler would presently rayse their commodities accordinglie, and soe landlords, officers and labourers lyving upon their former rents, fees and labours, receaving noe more than they were wont, shall pay more for their maintenance than heretofore, by one sixth the part, soe that in tyme it would come to passe that landlords in whom onlie there maybe a power to relieve themselves, their leases being expired, would raise their rents accordinglie, only those that have great store of money should be gayners by this course.’ The tract is signed ‘Sir Ric. Martin, Kt. master of the Mint, excellently experienced in money business.’ See Add. MSS. 34324, fol. 64.

^{page 242 note 1} See Ruding, vol. i. p. 367.

^{page 243 note 1} See Introd. to Huguenot Soc. Proceedings, vol. i. Moens, and Add. MSS. 34324. fol. 109.

^{page 243 note 2} 1619. ‘The gold angel was reduced in weight from ; grains to , a reduction equivalent to an increase of in denominational value (Shaw, p. 139). The lb. troy was cut into 66 shillings.

^{page 244 note 1} See Add. MSS. 32434, Cæsar Papers, fol. 152, dated May 1, 1622.

^{page 244 note 2} Mr. Bell (of the East India Company), Thos. Mons (i.e. Mun), Mr. Thos. Jennings (an adventurer in East India Company), Mr. Wood ye Goldsmith, Mr. Skinner (of the East India Company), Mr. Keneidee (he signs himself Kendrick in the Humble Report). See Add. MSS. 32434, fol. 155.

^{page 244 note 3} The Preface of Misselden's Free Trade is dated June 8, 1622; the Circle of Commerce was not written till after the appointment of the Commission. Mun's Tract in defence of the East India trade had appeared 1621.

^{page 244 note 4} See Add. MSS. 34324, fol. 155. Mandeville calculated the loss in the exchange with the Low Countries to amount to 3s. 2d. on the 1l. sterling. Mun and the rest prove it to be only 2½d. on the ll.

The Report goes on: ‘This is so necessarilie true as that noe lawe, no treaty, no losse to the merchant, nor par upon the exchange, nor danger to the exporter can prevent it, but if it be mett with all in one part yett it must out in another … But if this wast of forraine wares be kept within compasse of our commodities vented in forraine parts, then though the neighbouring states enhance the Coyne, though the exchange goe free at the pleasure of the merchants contracting it, though the lawes against exportation and Strangers ymployment slepe, and all men be suffered to carry moneye wherever he will, yet this overballance of our commodities will force it again with an increase by a necessitie of nature beyond all resistance; other remedye than this we conceive none to be effectual.’ (Add. MSS. 34324, fol. 167.)

^{page 245 note 1} Unsigned, but probably written with the help of Malynes, whose writings it resembles closely both in language and matter.

^{page 245 note 2} The writers, besides Mandeville and Mun, were Malynes, Sir Ralph and Sir Ric. Maddison. Nine of these tracts are preserved, together with notes in Caesar's hands of the debates on the scarcity at a few of the meetings of the Council (or Commission?) in the Cæsar Papers, Add. M. S. 34324. Mun and Sir Ralph Maddison were among the original members of the Commission. Misselden was not of the number, he was carrying on the controversy with Malynes in the outside world. His Circle of Commerce was published shortly after the appointment of the Commission.

^{page 245 note 3} See Diary of William Yongc, Camden Soc. Pub. vol. xli.

^{page 246 note 1} See C.J., vol. i. 04 1624Google Scholar.