Page:William Petty - Economic Writings (1899) vol 1.djvu/283

Rh But Money, that is to say, Silver and Gold, do at this day much decrease in Ireland, for the following Reasons.

1. Ireland, Anno 1664. did not export to a much greater Value than it imported, viz. about 62 M. Since which time there hath been a Law made to prohibit the Importation of great Cattel and Sheep, alive or dead, into England ; the Value whereof carried into England in that very year 1664. was above 150 M.l. The which was said to have been done, for that Ireland drained away the Money of England. Whereas in that very year England sent to Ireland, but 91 M. less than it received from thence; and yet this small difference was said to be the reason why the Rents of England fell $1/5$, that is 1600 M. in 8 Millions. Which was a strange conceit, if they consider farther, That the value of the Cattel alive or dead, which went out of Ireland into England, was but 132 M. the Hides, Tallow, and Freight whereof were worth about ½ that Money. |72|

2. Whereas the Owners of about ¼, both of all the real and personal Estate of Ireland, do live in England, since the business of the several Courts of Claims was finished in December 1668. all that belongs to them goes out, but returns not.

3. The gains of the Commissioners of that Court, and of the Farmers of the Revenue of Ireland, who live in England, have issued out of Ireland without returns.

4. A considerable part of the Army of Ireland hath been sent into England, and yet paid out of Ireland.

5. To remit so many great Sums out of Ireland into England, when all Trade between the said two Kingdoms is prohibited, must be very chargeable; for now the Goods which go out of Ireland, in order to furnish the said Sums in England, must for Example go into the Barbados, and there be sold for Sugars, which brought into England, are sold for Money to pay there what Ireland owes. Which way being so long, tedious and hazardous, must necessarily so raise the exchange of Money, as we have seen 15 per Cent. frequently given, Anno 1671. and Anno 1672. Altho in truth, exchange