Judgement of Parliament.—The law stands for it; and a law made 12th of Henry the Seventh, never repealed by Parliament, only restrained since by charters, unduly, or by untrue suggestions, procured (by which means all other monopolies have had their original) and the first of those charters since the making of that statute (which was purchased in the end of the reign of Henry the Seventh, at what time Empson and Dudley were instruments of so much wronging and oppressing the people) yet doth in no wise restrain this liberty of free trade, but expressly allow it (with a reverence unto that very act in the 12th of this reign) and so continued till the reign of Queen Elizabeth.
Examples of Nations.—The example of all other nations generally in the world, who avoid in themselves, and hate in us, this monopolizing way of traffic; for it cannot be otherwise counted than a monopoly, when so large a commodity is restrained into the hands of so few in proportion, to the prejudice of all other who by law and natural right might have interest therein. And whereas some allege that there are like Companies in other countries, as of the East Indies in Lesbone, the House of Contraction there, the Fontego at Venice, the Travesana at Noremberg, these allegations are either untrue or unproper. There are places of assembly for merchants, and to consult for good orders in all other countries, but without restraint of trading from any man; and how traffic, by this freedom, doth flourish in other countries, and principally in the Low Countries, far more than in ours, is apparent to all the world.
Wealth.—The increase of the wealth generally of all the land by the ready vent of all the commodities to the merchants at higher rate; for where many buyers are, ware grows dearer; and they that buy dear at home, must sell dear abroad: this also will make our people more industrious.
Equal Distribution.—The more equal distribution of the wealth of the land, which is a great stability and strength to the realm, even as the equal distributing of the nourishment in a man's body; the contrary whereof is inconvenient in all estates, and oftentimes breaks out into mischief, when too much fullness doth puff up some by presumption, and too much emptiness leaves the rest in perpetual discontent, the mother of desire of innovations and troubles: and this is the proper fruit of monopolies. Example may be in London, and the rest of the realm: The custom and impost of London come to a hundred and ten thousand pound a year, and of the rest of the whole realm but to seventeen thousand pound.
Strength.—The increase of shipping, and especially of mariners, in all ports in England. How greatly the mariners of the realm have decayed in all places of latter times, and with how great danger of the state in these late wars, is known to them who have been employed in that kind of service; who do also attribute the cause thereof to this restraint of trade; free traffic being the breeder and maintainer of ships and mariners, as by memorable example in the Low Countries may be seen.
Profit of the Crown.—The increase of custom and subsidy to the King, which doth necessarily follow the increase of foreign traffic and wealth. And they which say otherwise, will dare to say anything. These reasons are in great part set down in the Act of the 12th of Henry VIIth; other particular reasons there are, which this present time doth not yield.
Opportunity Abroad.—Under our gracious Salamon, a Prince of wisdom and peace, we are like to be in league or amity with all nations; whereby, as there will be greater freedom abroad to trade to all places, so fit to have greater at home for all persons to trade. This alteration of times may make that fit now, which in times of hostility might have seemed unfit.
Necessity at Home.—And as there will be greater opportunity abroad, so also much greater necessity at home; for what else shall become of gentlemen's younger sons, who cannot live by arms when there is no wars, and learning preferments are common to all and mean? So that nothing remains fit for them, save only merchandize (and such is the use of other politic nations) unless they turn serving men, which is a poor inheritance.
The general reasons to continue the restraint of trade, and the answer to them, were these:
Imputation of the State.—It is a taint to the King and State, that these restrained companies should be called or counted monopolies; and by this Act we insist and strengthen the complaint of the Haven Towns and other nations against the State for suffering such companies.