Page:William Petty - Economic Writings (1899) vol 1.djvu/158

58 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 Exportations 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 one, and some of the other as much harm 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, whether the Expence of Wine or Coffee be most prejudicial to our people, &c.|40|

16. The benefits alledged for the free Exportation of Money is merrily 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 Intrest and 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,

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