Capper. We hear say, that the King's Majesty maketh up his losses that way by the gains which he hath by the mint another way. If that be too short, he supplieth that lack by subsidies and impositions of his subjects, so as his Grace can not lack, so long as his subjects have it.
Doctor. You say well there. So long as the subjects have it, so it is meet the King should have it; but what and they have it not? for they cannot have it, when there is no treasure left within the realm. And as touching the mint I account the profit much like as if a man would take his wood up by the roots, to make [the more profit thereof at one time, and ever after to lose] the profit that might grow thereof yearly, or to pull the wool of his sheep by the root. And as for the subsidies; how can they be large when the subjects have little to depart with? and yet that way of gathering treasure is not always most safe for the prince's surety; for we see many times the profits of such subsidies spent in appeasing of the people that are moved to sedition partly by occasion of the same....
f. 31b-f. 34.
Doctor. Mary, the first way [sc. to equalize the profits of tillage and pasture-farming] is to make that wool be of as base a price [to] the breeder thereof as the corn is; and that shall be, if you make alike restraint of wools, for passing over the sea unwrought, as ye make of corn. Ye have a law made that no corn shall pass over and it be above a noble a quarter; if it be under ye give free liberty for it to pass over; let wool be restrained likewise, for passing over, so long as it is above 12s. 4d. the tod; and when it is under let it have free passage; that is one way. Another is, to increase the custom of wool that passeth over unwrought; and by that the price of it shall be based to the breeders, and yet the price over the sea shall be never the less. But that is increased in the price thereof [on] strangers shall come unto the King's Highness; which is as profitable to the Realm as though it came to the breeders, and might relieve them of their subsidies. Thus far as touching the bringing down the price of wools; now to the enhancing of the same price in corn, to be as equivalent to the husbandman as wool should be. And that might be brought to pass if ye will let it have as free passage over sea at all times, as ye have now for wool.
Merchant. By the first two ways men would send less wool over sea than they do now; and, by that way, the King's customs and profits of his staple should be minished; by your latter way, the price of corn should be much enhanced, wherewith men should be much grieved.
Doctor. I wot well it would be dear at the first; but if I can persuade you that it were reasonable it were so, and that the same could be no hindrance to the Realm universally, but great profit to the same, then I think we would be content it should be so; and as touching the King's custom, I will speak afterward.
Merchant. I will grant, if you can show me that.
Doctor. I will essay it, albeit the matter be somewhat intricate, and as I showed you before, at the first face will displease many; for they will say, Would you make corn dearer than it is? Have you dearth enough else without that? Nay I pray you find means to have it better cheap, if it may be, it is dear enough already; and such other like reasons would be said. But now let the husbandman answer such men again. Have not the grazers raised the price of your wools and pelts? and you merchant men, clothiers and cappers, raised the price of your merchandize and wares over it was wont to be in manner double? Is it not as good reason then I should raise the price of my corn? What reason is it that you should be at large, and I to be restrained? Either let us all be restrained together, or else let us all be at like liberty. Ye may sell [your wool] over the sea, your fells, your tallow, your cheese, your butter, your leather, which riseth all by grazings, at your pleasure, and that for the dearest penny ye can get for them. And I shall not send out my corn, except it be at 10d. the bushel or under. That is as much to say, as we that be husbandmen should not sell our wares, except it be for nothing, or for so little we shall not be able to live thereof. Think you that if the husbandman here did speak these words, that he did not speak them reasonable?
Husbandman. I thank you with all my heart; for you have spoken in the matter more than I could do myself, and yet nothing but that is true. We felt the harm, but we wist not what was the cause thereof; many of us saw, 12 years ago, that our profits was but small by the ploughs; and therefore divers of my neighbours that had, in times past, some two, some three, some four ploughs of their own, have laid down, some of them [part, and some of them all] their teams, and turned either part or all their arable ground into pasture, and thereby have waxed very rich men. And every day some of us encloseth a [plot] of his ground to pasture; and were it not that our ground lieth in the common fields, intermingled one with another, I think also our fields had been enclosed, of a common agreement of all the township, long ere this time. And to say the truth, I, that have enclosed little or nothing of my ground, could [never be able] to make up my lord's rent were it not for a little breed of neat, sheep, swine, geese, and hens that I do rear upon my ground; whereof, because the price is somewhat round, I make more clear profit than I do of all my corn; and yet I have but a bare living, by reason that many things do belong to husbandry which now be exceeding chargeable over they were in times past.