Page:History of England (Froude) Vol 4.djvu/540

'Now, forasmuch as it is well known that the exchange between our realm and other foreign realms is the very rule that settleth the price (goods cheap or dear) of almost all things whereof is no scarcity, as well of the commodities and merchandise of this realm as of other foreign commodities brought hither, I will therefore declare what present mischief hath happened since my communication with Yorke, and in these six days hitherward. The exchange as well for Flanders as for France and Spain among the merchants has fallen about seven per cent, by reason of the news of the new coin coming forth, which the people will more better make the reckoning of, and understand the value of now in fine silver, than before in the mixture—which fall of the exchange cometh for fear of the littleness of our silver coin, and is the only cause that all we the merchants of England do rob England and carry away all the gold in the land to foreign realms, for that it is to a more profit than the exchange. And the like of this mischief happened here in England in the months of June, July, and August last, in the which three months were carried out of England not so little as 100,000l. of gold (and yet did silver come into England as fast and all for the private gain in coining the silver), for that the pound of gold is richer than the pound of white money; which mischief now present doth cause our gold to be bought up. And when of late the King did call the French crown from 7 shillings to 19 groats, they be now bought up for 7s. 3d. and 7s. 4d., to be carried away as all other gold; so that shortly we shall be quit