A. D. 1663. 511 



' to a common market) to fuch places as give free liberty for exporting 

 ' the fame, and the better to keep in and increafe the current coins of 

 ' this kingdom, be it enadled, that it (hall be lawful to export out of 

 ' any cuftomhoufe or port of England, all forts of foreign coin or bul- 

 ' lion of gold or filver, firfl entering the fame at the cuftomhoufe, 

 ' without paying any duty or cuflom for the fame.' 



It is llrange our legiflature {lnould have been fo late in coming into 

 this meafure, though fo much earher praftifed by other wife and mer- 

 cantile nations, bullion and foreign coin being undoubtedly as much a 

 mercantile commodity as any other inftrument of commerce whatever. 

 Mr. Thomas Munn, in his judicious treatife, entitled England's trea- 

 fure by foreign trade (8vo, 1664) has fully fliewn, of what benefit the 

 free exportation of money was in Tufcany, under the year 1630. He 

 has alfo no lefs clearly fhewn the ablurdity of the old Englifl-i laws 

 for obliging merchants-ftrangers, importing into England, to lay out 

 their produce in the commodities of our realm ; as alfo the laws for 

 obliging all merchants exporting corn, fifli, ammunition, &c. to bring 

 home money or bullion in return : and in fine, ' that nothing but an 

 ' overbalance in foreign trade, or exporting more in value of our own 

 ' produd and manufadure than we import of thole of other nations, 

 ' can either increafe our bullion, or even keep what we have already.' 

 Mr. Polexfen, however, (an able and ftrenuous opponent of the Eaft- 

 India trade) in his Account of the Eafl-India trade, 1696, on the other 

 hand, remarks, ' that till the licence granted by this ad to export fo- 

 ' reign coin and bullion, the Eaft-India company did not export 

 ' above L40,ooo in bullion yearly ; but now it began to be ex- 

 ' ported in much greater quantities, and that it was no lefs than 



* L6oo,ooo fterling per annum, taking any number of years, when the 

 ' trade was carried on without any great obftrudion.' Yet poflibly 

 that company might before have exported much more than L40,ooo, 

 though they did it clandeflinely till this law gave permilhon. 



In the fame flatute there is the following claufe, viz. ' that whereas a 



' great part of the richell and bell land of England cannot fo well be 



* otherwife employed as in the feeding and fattening of cattle ; and 

 ' that by the coming in of late of vaft numbers of cattle from beyond 



* fea already fattened (meaning from Ireland), fuch lands are in many 

 ' places much fallen in rents and values, to the great impoverillnnent 



* of this kingdom, it was now enaded, that for every head of great cattle 

 ' imported (except the breed of Scotland) between the ift of July and 



* 20th of December in any year, and of the breed of Scotland between 

 ' the 24th of Augufl; and the 20th of December in any year, there fhall 

 ' be paid or forfeited 20/" to the king, and alfo i o/to him that fhall inform 

 ' orfeizethefame,and other lo/to the poor of the parifli where fuch feizure 

 '■ fliall be made; and for every flicep fo imported 10/, to be recovered and 



