dress, dye, and stretch them to such unreasonable lengths, contrary to our law, that they prevent and forestall our markets, and cross the just prohibitions of our state and realm, by their agents and factors lying in divers places with our own cloths, to the great decay of this kingdom in general, and discredit of our cloths in particular.

If the account were truly known, it would be found that they make not clear profit only by cloth transported rough, undressed, and undyed, sixty thousand pounds a year; but it is most apparent your majesty in your customs, your merchants in their sales and prices, your subjects in their labours, for lack of not dressing and dying, your ships and mariners, in not bringing in of dying stuffs, and spending of alum, is hindered yearly near a million of pounds; so that trade is driven to the great hinderance of your majesty and people, by permitting your native commodities to pass rough, undressed, and undyed, by the merchant adventurer.

Touching fishing.

The great sea-business of fishing doth employ near twenty thousand ships and vessels, and four hundred thousand people are employed yearly upon your coast of England, Scotland, and Ireland, with sixty ships of war, which may prove dangerous.

The Hollanders only have about three thousand ships to fish withal, and fifty thousand people are employed yearly by them upon your majesty's coasts of England, Scotland, and Ireland.

These three thousand fishing ships and vessels of the Hollanders do employ near nine thousand other ships and vessels, and one hundred and fifty thousand persons more by sea and land to make provision to dress and transport the fish they take, and return commodities, whereby they are enabled and do build yearly one thousand ships and vessels, having not one timber tree growing in their own country, nor homebred commodities to lade one hundred ships, and yet they have twenty thousand ships and vessels, and all employed.

King Henry the Seventh, desirous to make his kingdoms powerful and rich, by increase of ships and mariners, and employment of his people, sent unto his sea-coast towns, moving them to set up the great and rich fishing, with promise to give them needful privileges, and to furnish them with loans of money, if need were, to encourage them; yet his people were slack. Now since I have traced this business, and made mine endeavours known unto your majesty, your noblemen, able merchants, and others, (who, having set down under their hands for more assurance,) promised to disburse large sums of money for the building up of this great and rich large sea-city, which will increase more strength to your land, give more comfort, and do more good to all your cities and towns, than all the companies of your kingdom, having fit and needful privileges for the upholding and strengthening of so weighty and needful a business.

For example; twenty busses built and put into a sea-coast town where there is not one ship before, there must be to carry, recarry, transport, and make provision for one buss, three ships; likewise every ship setting on work thirty several trades and occupations, and four hundred thousand persons by sea and land, insomuch as three hundred persons are not able to make one fleet of nets in four months for one buss; which is no small employment.

Thus by twenty busses are set on work near eight thousand persons by sea and land, and an increase of above one thousand mariners, and a fleet of eighty sail of ships to belong to one town, where none were before, to take the wealth out of the sea, to enrich and strengthen the land, only by raising of twenty busses.

Then what good one thousand or two thousand will do, I leave to your majesty's consideration.

It is worthy to be noted, how necessary fishermen are to the commonwealth, and how needful to be advanced and cherished, &c.

1. For taking God's blessing out of the sea to enrich the realm, which otherwise we lose.

2. For setting the people on work.

3. For making plenty and cheapness in the realm.

4. For increasing of shipping to make the land powerful. 5. For a continual nursery for breeding and increasing our mariners.

6. For making employment of all sorts of people, as blind, lame, and others, by sea and land, from ten or twelve years and upwards.

7. For enriching your majesty's coffers, by merchandises returned from other countries for fish and herrings.

8. For the increase and enabling of merchants, which now droop and daily decay.

Touching the coin.

For the most part all monarchies and free states, both heathen and Christian, as Turkey, Barbary, France, Poland, and others, do hold for a rule of never-failing profit, to keep their coin at higher rates within their own territories than it is in other kingdoms.

The causes.

1. To preserve the coin within their own territories. 2. To bring unto themselves the coin of foreign princes. 3. To enforce merchant strangers to take their commodities at high rates, which this kingdom bears the burden of.

For instance.

The king of Barbary perceiving the trade of Christian merchants to increase in his kingdom, and that the returns out of his kingdoms were most in gold, whereby it was much enhanced, raised his ducat (being then current for three ounces) to four, five, and six ounces; nevertheless it was no more worth in England, being so raised, than when it went for three ounces.

This ducat, current for three ounces in Barbary, was then worth in England seven shillings and sixpence, and no more worth, being raised to six ounces; since which time (adding to it a small piece of gold) he hath raised it to

eight, and lastly to ten ounces; yet at this day it is worth but ten shillings and one penny, notwithstanding your majesty's late raising of your gold.

Having thus raised his gold, he then devised to have plenty of silver brought into his kingdom, raised the royal of eight, being but two ounces, to three and threepence halfpenny, which caused great plenty of silver to be brought in, and to continue in his kingdom.

France.

The English Jacobus goeth for three and twenty shillings in merchandising.

The French crown for seven shillings and sixpence.

Also the king hath raised his silver four sous in the crown.

North Holland.

The double Jacobus goeth for three and twenty shillings sterling.

The English shilling is there eleven stivers, which is two shillings over in the pound.

Poland.

The king of Poland raised his Hungary ducat from fifty-six to seventy-seven and an half Polish groshes, and the rix-dollar from thirty-six to forty-seven and an half groshes; the rix-dollar, worth in Poland forty-seven and an half groshes, is, by account, valued at six shillings and fourpence sterling, and here in England is worth but four shillings and sevenpence; the Hungary ducat, seventy-seven, is worth, by account, in Poland ten shillings and fourpence, and in England is worth but seven shillings and tenpence; the Jacobus of England, here current for twenty-two shillings, in Poland twenty-four shillings, at the rate of seven shillings and tenpence for the Hungary ducat.

Now to turn the stream and riches raised by your majesty's native commodities into the natural channel, from whence it hath been a long time diverted, may it please your majesty to consider these points following:

1. Whether it be not fit that a state-merchant be settled within your dominions, which may both dispose more profitably of the riches thereof, and encounter policies of `merchant strangers, who now go beyond us in all kind of profitable merchandising?

2. Whether it be not necessary that your native commodities should receive their full manufactory by your subjects within your dominions?

3. Whether it be not fit the coals should yield your majesty and subjects a better value, by permitting them to pass out of the land, and that they be in your subjects' shipping only transported?

4. Whether it be not fit your majesty presently raise your coin to as high rates as it is in the parts beyond the seas?

5. Whether it be not necessary that the great sea-business of fishing be forthwith set forward?

If it please your majesty to approve of these considerations, and accordingly to put them in a right course of execution, I assure myself (by God's help) in short time your majesty's customs, and the continual comings into your coffers, will be exceedingly increased, your ships and mariners trebled, your land and waste towns (which are now run out of gates) better replenished, and your people employed, to the great enriching and honour of your kingdom, with the applause, and to the comfort of all your loyal subjects.

May it please your majesty,

I have the rather undergone the pains to look into their policies, because I have heard them profess they hoped to get the whole trade and shipping of Christendom into their own hands, as well for transportation, as otherwise, for the command and mastery of the seas; to which end I find that they do daily increase their traffick, augmenting their shipping, multiplying their mariners' strength and wealth in all kinds, whereat I have grieved the more, when I considered how God hath endued this kingdom, above any three kingdoms in Christendom, with divers varieties of homebred commodities, which others have not, and cannot want, and