A Treatise of Taxes and Contributions: Shewing the nature and measures of crown-lands, assessements, customs, poll-moneys, lotteries, benevolence, penalties, monopolies, offices, tythes, raising of coins, harth-money, excize, &c.; with several intersperst discourses and digressions concerning warres, the church, universities, rents & purchases, usury & exchange, banks & lombards, registries for conveyances, beggars, ensurance, exportation of money [&] wool, free-ports, coins, housing, liberty ofPetty, William, Sir
History
A Treatise of Taxes and Contributions: Shewing the nature and measures of crown-lands, assessements, customs, poll-moneys, lotteries, benevolence, penalties, monopolies, offices, tythes, raising of coins, harth-money, excize, &c.; with several intersperst discourses and digressions concerning warres, the church, universities, rents & purchases, usury & exchange, banks & lombards, registries for conveyances, beggars, ensurance, exportation of money [&] wool, free-ports, coins, housing, liberty of
Petty, William, Sir
Finance -- Great Britain -- Early works to 1800; Great Britain -- Politics and government -- 1660-1688; Taxation -- Great Britain -- Early works to 1800
15. To prohibit the Exportation of Money, in that it is a thing
almost impracticable, it is almost nugatory and vain; And the
danger of it resolves either into a kinde of Ensurance answerable
to the danger of being seized, or unto a Surcharge of a Composition
by bribing the Searchers. As for example, If but one in fifty
Exportations are seized, or if twenty shillings be usually taken
for conniving at fifty pounds, then the Commodities bought with
this Money must be sold two at least _per cent._ the dearer to
the Consumptioner. Now if the Trade will not bear this Surcharge,
then Money will not be exported with discretion. Now the use of
this Prohibition, supposing it practicable, is to serve as a
sumptuary Law, and to binde the Nation in general not to spend
more then they get; for if we could export no Commodity of our
own growth or manufacture then by prohibiting the going out of
Money, it is also _ipso facto_ commanded that nothing forreign
should be brought in. Again supposing, that ordinarily we export
enough to furnish us with all Forreign Commodities, but upon some
extraordinary decay of our Land or hands, we are able to export but
half as much as would procure our ordinary proportion of Forreign
Goods, then the Prohibition of Money performs indeed the part of
a sumptuary Law, in hindring us to bring in any more then half as
much Forreign Commodities as we formerly used, onely it leaves it
to the discretion of the Merchant, to chose which he will neglect
or forbear to bring in, and which not; whereas in sumptuary Laws
the State taketh this care upon themselves. As for example, If we
wanted Exportation to ballance our Importations by forty thousand
pounds, and suppose for examples sake, that the Importation of
forty thousand pounds worth of Coffee-Berries, or the like of
Spanish Wine must be retrenched; in this case, the said Prohibition
of Money will do one, or some of the one, and some of the other as
the Merchant himself pleases: But the sumptuary Law determines,
whether we shall encourage and keep fair with the Nation that sends
us Wine rather then that which sends us Coffee, and whether the
Expence of Wine or Coffee be most prejudicial to our people, &c.
16. The benefits alledged for the free Exportation of Money is
meerly this, _viz._ That if a Ship carrying out of _England_ forty
thousand pounds worth of Cloth, might also carry with it forty
thousand pounds in Money, then could the Merchant stand the stiffer
upon his terms, and in fine would buy cheaper, and sell dearer;
but by the way, the Merchant buyes this power with the Interest
and advantage of the Money he carries, which if it amount to five
pound _per Cent._ then he had better sold his Goods at four pound
_per Cent._ under rate, then to have fortified himself with Money
as aforesaid. But of this more may be said, we hasten to the great
point of Wool.
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