Examinations of the Reasons for the not raising of Money.
The first and main Reason against the raising of Money,is,The INJUSTICE and OPPRESSION done to all those,who ar in place of Creditors to receive,all which are forced to receive less in Intrinsical value than is due unto them,and less in faculty and extent to supply their own uses.To which reason I never understood any answer made that could have examination but only this:That however the Creditors do receive less in intrinsical value,and less in faculty and extent,to supplie their use by reason that as the Extrinsical value of the Money is raised,the price of the things do likewise rise with it,yet that price doth not rise but by degrees and time,in which time all these Creditors by renewing their Contracts do repair themselves,some sooner,some later,according to the state of their Contracts.
But then it is manifest that all those who have any Rents or other Rights which are defined to a certain sum in perpetuity,and the King for the best part of his Revenue are extreamly damnified by the raising of Moneys without Repair,except there should a Law be mae that all those kind of payments should be payable according to the values of Money current when they were first created,which,though it were an innovation full of Danger and Confusion,and Impracticable in this State,yet it seemeth to have a foundation in Justice.
A second Reason,made against the raising of Money,is this,If you do raise your Moneys out of the Misconceipt to draw you more Gold and Silver,the other Nations out of the same Misconceipt will raise the Money likewise;and so deprive you of your end:but to this reason it may be answered,That we ought not to raise our Moneys above our Neighbours,but only to a parity with them,and then if they be obstinate to out raise us,we must rather undergo the Prejudice of a continual raising to a parity,thereby to keep our own,than to suffer other Nations by imparity to rob us of what we have:so as this Argument in effect,doth resort to that,which was formerly disputed,whether truly and constantly more Gold and Silver be brought in by the raising of Money.
The two Arguments that follow against the raising of Money will both receive one clear answer.
The First,That in raising of Money you raise the King of Spain's Commodities,and consequently enrich him.
The Second,That by raising of Money,you have less Silver and Gold out of Spain in Intrinsical value for your Commodities,the answer thereunto is very plain and clear,which is this,That if the Position formerly laid down be true,which is,That as the value of Money is raised,so the price of Commodities riseth with it,Then it follows that neither the King of Spain shall be enriched by the raising of Money,because the Commodities for which he parts with his Money unto us,shall rise likewise in price,nor shall we receive less of his Money in Intrinsical value for our Commodities,because the Extrinsical value is raised,that our Commodities will rise likewise so much the more in Extrinsical value.
To the last Argument,of the Confusion which the raising of Money doth bring both by the stopp of Commerce at the present,and the fractions of Reckonings,it is answered,That no alteration in this Subject of Money is without Inconvenience;But if the position be true,that raising of Money is necessary to preserve that which we have,and to bring in more;then are those petty Inconveniences little considerable:and thus I have examined as strictly as I can the Reasons alledged on both sides for the raising and not raising of Moneys;but leave the Reader to his own Conclusion.
I do now come to the Remedies,that by curious search I could ever learn to have been propounded either in this Estate or any forrein Estates,for the Inconveniences that may grow either by raising of Money,or not raising,or both of them,which I do mean likewise to examine,and shew as near as I can,the Difficulties that may grow in settling of the several Remedies propounded,and the evil Consequences that might grow of them,if they were settled,and that so the Reader may more clearly judge which is the best:for which purpose I intend to begin with the Plainest and most easie,to the end that the more intricate may afterwards be better comprehended.
