This money is made daily more plentifull, by our Spanish Merchants, which doe divert the Realls of Spaine, as before hath beene declared: hence it proceedeth, that our home Commodities, are many times sold beter cheape beyond the Seas then here; for although Merchants doe lose thereby, they make account to gaine more, by the low exchange, delivering their moneys there, or taking of them up here by exchange, to pay their Bills of exchange at an undervalue: insomuch, that many Merchants having no commodities there, may take up money here, and sending over the same in specie, will pay there with their Bill of exchange, and Gaine (by dexteritie of wit) 15 in the hundreth in lesse than two moneths time. Thus when Gaine is practised by exchange, the Commodities of the Realme are less vented, and the moneys are exported, which causeth the lesse employment here to be made upon our Commodities: Even as the importation of moneys being hindered (by the inhauncing of the Coynes beyond the Seas:) compelleth our Merchants to make the greater employment upon forreine Commodities at deere Rates.
For the Commodities beyond the Seas, are in the hands of them that make sale of them, upon a certaine price (as it were)at their pleasure, having Plenty of Money, at a cheape Rate at interest, whereas also they have no man to undersell them, here and there, as our Merchants doe our Commodities, which (without all comparison:) are farre much fallen in price, then the forraine Commodities now somewhat abated in price.
Concerning other Commodities imported, As Wines, Raisons, Corints, Tobacco, and Spices of the East Indies: Let us briefely observe, that the Wines of France might be bought better cheap, if the money of the Realme were not undervalued in exchange; for wheras heretofore they gave us in payment their French Crowne of Gold for 64. Soulx, now they give us the same at 75 Soulx, which Crowne was then worth 6 shillings, 6 pence Starlin, and their quart d'eseu now paied for 16 Soulx and above, was then but 15Soulx, for which we gave here (accompting 4 to the Crowne of Silver) 69 pence and thereabouts, and now 72 pence and above.