This was Seriously observed in the yeere 1576 by divers most honourable and Grave Counsellours of State, Namely, Sir Nickolas Bacon, Lord Keeper of the great Seale; Sir William Burghley Lord Treasurour of England, Thomas Earle of Sussex, Francis Earle of Bedford, Sir Francis Knowles, Sir James Croft, and Master Secretarie Walshingham, with the assistance of other worthy persons of experience, namely Sir Thomas Chamberlain, Sir Thomas Gresham Knight, Master Peter Osborne, Master James Altham, Master Thomas Rivet, and Master Richard Martin, Master of the Mints: for they found that the following inconveniences were practised, by Bankers or exchangers for their Private gaine and benefite, for the advancing of some Common-weales, and the destruction of other Common-weales.
To lay their money with Gaine in any place of the world, where exchange lyeth.
To Gaine and waxe Rich, and never meddle with any Princes Commodity; or, To buy any Princes Commodity with the Subjects money, and not one pennie of their owne.
To understand whether money employed on exchange or Commodities is more profit.
To live and increase upon every Princes Subject, which take up moneys.
To winde out every Princes Treasure out of his Realme, whose Subjects bring in more Wares, then they carry out.
To make the Staple of money Runne, where the Rich Prince will have it.
To unfurnish the poore Prince of his provision of money in Warres.
To furnish their need of money, that tarry the selling of their Wares or Commodities.
To take up money to engrosse any Commodity, or to incorporate any Trade.
To hide their carrying away of any Princes money.
To fetch away any Princes fine money, with the baser money of other Princes.
To take up Princes base money, and turne it into fine, and pay the party with his owne.