Page:Mun - England's treasure by forraign trade.djvu/73



Merchants Exchange by Bills is a means and practice whereby they that have money in on Countrey may deliver the same to receive it again in another Countrey at certain times and rates agreed upon, whereby the lender and the borrower are accommodated without transporting of treasure from State to State.

These Exchanges thus made between man and man, are not contracted at the equal value of the moneys, according to their respective weights and fineness: First, because he that delivereth his money doth respect the venture of the debt, and the time of forbearance; but that which causeth an under or overvaluing of moneys by Exchange, is the plenty or scarcity thereof in those places where the Exchanges are made. For example, when here is plenty of money to be delivered for Amsterdam, then shall our money be undervalued in Exchange, because they who take up the money, seeing it so plentifully thrust upon