5. And where England nowe for certen hundreth yeres last passed, by the peculiar comoditie of wolles, and of later yeres by clothinge of the same, hath raised it selfe from meaner state to greater wealthe and moche higher honour, mighte, and power then before, to the equallinge of the princes of the same to the greatest potentates of this parte of the worlde: it cometh nowe so to passe, that by the greate endevour of the increase of the trade of wolles in Spaine and in the West Indies, nowe daily more and more multiplienge, that the wolles of England, and the clothe made of the same, will become base, and every day more base then other; which, prudently weyed, yt behoveth this realme, yf it meane not to returne to former olde meanes and basenes, but to stande in present and late former honour, glorye, and force, and not negligently and sleepingly to slyde into beggery, to foresee and to plante at Norumbega or some like place, were it not for any thing els but for the hope of the vent of our woll indraped, the principall and in effecte the onely enrichinge contynueinge naturall comoditie of this realme. And effectually pursueinge that course, wee shall not onely finde on that tracte of lande, and especially in that firme northwarde (to whome warme clothe shalbe righte wellcome), an ample vente, but also shall, from the north side of that firme, finde oute knowen and unknowen ilandes and domynions replenisbed with people that may fully vent the aboundance of that our comoditie, that els will in fewe yeres waxe of none or of small value by forreine aboundaunce, &c.; so as by this enterprice wee shall shonne the ymmynent mischefe hanginge over our heades, that els muste nedes fall upon the realme, without breache of peace or sworde drawen againste this realme by any forreine state; and not offer our auncient riches to scornefull neighboures at home, nor sell the same in effecte for nothinge, as wee shall shortly, if presently it be not provaided for. The increase of the wolles of Spaine and America is of highe pollicie, with greate desire of our overthrowe, endevoured; and the goodnes of the forren wolles our people will not enter into the consideration of, nor will not beleve aughte, they be so sotted with opinion of their owne; and, yf it be not foresene and some such place of vent provided, farewell the goodd state of all degrees in this realme.