Dictionary of National Biography, 1885-1900/Maddison, Ralph
MADDISON or MADDESTONE, Sir RALPH (1571?–1655?), economic writer, born about 1571, was eldest son of Edward Maddison of Fonaby, Lincolnshire, by his wife Katharine, daughter of Ralph Bosville of Bradbourne, Kent. He was knighted at Whitehall in 1603, and was frequently employed by James I in commercial affairs. He was a member of the royal commission on the woollen trade in 1622, but on the reappointment of the commission in 1625 his name was omitted. He endeavoured, however, to bring his views to the notice of the commissioners, and he wrote to the king on ‘the depth of the mystery of trade.’ In 1640, when it was proposed to supply the king's financial necessities by debasing the currency, Maddison wrote to him (7 July), pointing out the evils which would result from such a measure. ‘A man of good affections to the parliament’ (Tanner MSS. lvi. 54), he advanced money to it during the civil war. During the Commonwealth he appears to have held some office in the mint. The committee on the coinage (August 1649) were instructed to confer with him upon the value of gold. He died probably about the end of 1655.
Maddison married, about 1594, Mary, daughter of Robert Williamson of Walkeringham, Nottinghamshire, by whom he had several children.
Maddison published ‘England's Looking in and out; presented to the High Court of Parliament now assembled,’ London, 1640, 8vo, reprinted in 1641. The pamphlet contains a clear statement of the theory of the balance of trade. The sections on currency and the foreign exchange are based upon Gerard Malynes's ‘Lex Mercatoria.’ The pamphlet was reprinted, with only a few verbal changes, as ‘Great Britain's Remembrancer, Looking in and out; tending to the Increase of the Monies of the Commonwealth. Presented to his Highness the Lord Protector and to the High Court of Parliament now assembled,’ London, 1655, 8vo. New chapters, however, were added, in which the author recommended the establishment of a bank, a council for mint affairs, and free ports.
[Rymer's Fœdera, xvii. 410, xviii. 81; Cal. State Papers, Dom. (Jac. I), xliii. 20, cxxxi. 106, ib. (Car. I), xiv. 18, 19, ccccxxxi. 26, ccccclxi. 74, ib. 1649–50, ii. 12, iii. 113; Cal. Committee for Advance of Money, pt. i. p. 173; Burke's Landed Gentry, ii. 1045.]