A. D. 1603. 239 



gvilate commerce to the beft advantage ; which fcheme feems much the 

 fame with the prefent board of trade and plantations, ereded in the 

 year 1696. 



Raleigh's efTay on commerce was a maflerly performance for the time 

 in which it was written, yet he is fometimes miftaken ; for inftance, his 

 advice to raife the nominal value of coin above its intrinfic A'alue, or, 

 in other words, above the price of bullion in other nations, which he 

 thinks would be a means to keep our coin to ourfelves. Yet in this 

 point Ra'eigh may be excufed, feeing that fo lately as the years 1695 

 and 1696, when the filver coins were fo fhamefully impah-ed as to re- 

 quire a general recoinage, an otherwife able and diligent fecretary of 

 the treafury fell into the like miflake, as will be related in its place. 



His theory is good in refped of the great advantages accruing to the 

 public by dying and fully drefling our cloths before exportation ; never- 

 thelefs, we fliall fee Alderman Cockayne's patent for that end in the 

 year 161 5 prove unfuccefsful, although thofe arts have fnice been gain- 

 ed by us gradually, and without force, which a compulfory law in King 

 James's reign could not efFecl. King James's attempt alfo in the year 

 1623 to ered granaries of corn, in imitation of Holland, proved abort- 

 ive. The fidiery is much altered lince Raleigh's time : people, even 

 in popifli countries, are become more delicate in their palates, and lefs 

 fond of a falt-flfh diet ; yet it muft be allowed that there is Hill a great 

 demand for faked fifh in many countries. 



Upon the whole, although Ibme part of this eflliy may poflibly lie 

 under the cenfure of exaggeration, yet its hiflorical and critical remarks 

 render it very deferving of a place in commercial hiftory. 



Befides the eftablifhment of a company of mines-royal erecled in 

 1563, and another for mineral and battery-works in 1568, King James 

 now incorporated the earl of Pembroke and others, for better continu- 

 ing the corporation (of the loth of Queen Elizabeth) of the fociety of 

 mineral and battery-works ; yet notwithftanding the ads of parliament 

 of the lOth and 39th of Elizabeth, and fundry grants of King James 

 and of King Charles 1 and II, with prohibitions of foreign iron-wire 

 and wool-cards ; and that the company of mines-royal was united in 

 1668 to that of the mineral and battery-works, whereof Prince Rupert 

 and the earl of Shaft fbury were then eleded governors; two ads of par- 

 liament, neverthelefs, (hi 1689 and 1693) declared no mines to be 

 royal, either of copper, tin, iron, or lead, even though gold and filver 

 fliould be extraded therefrom ; provided, however, that the crown may 

 have the pre-emption of thofe metals, paying for copper ore L16 per 

 ton, tin L2 per ton, iron L2, and lead L9 per ton. Thefe ads greatly 

 difcouraged the above riamed focieties, and gave rife to the mine- 

 adventurers company, now alfo in a very languifliing condition in our 

 days. 



