8.
But so far was the anxiety on this head carried, that merchants alien, who imported commodities into the kingdom, were obliged to invest in English commodities all the money acquired by their sales, in order to prevent their conveying it away in a clandestine manner.[*] It was prohibited to export horses; as if that exportation did not encourage the breed, and render them more plentiful in the kingdom.[**] In order to promote archery, no bows were to be sold at a higher price than six shillings and fourpence,[***] reducing money to the denomination of our time.

The only effect of this regulation must be, either that the people would be supplied with bad bows, or none at all.
Prices were also affixed to woollen cloth,[****] to caps and hats:[v] and the wages of laborers were regulated by law.[v*] It is evident, that these matters ought always to be left free, and be intrusted to the common course of business and commerce.

To some it may appear surprising, that the price of a yard of scarlet cloth should be limited to six and twenty shillings, money of our age; that of a yard of colored cloth to eighteen; higher prices than these commodities bear at present; and that the wages of a tradesman, such as a mason, bricklayer, tiler, etc., should be regulated at near tenpence a day; which is not much inferior to the present wages given in some parts of England.

Labor and commodities have certainly risen since the discovery of the West Indies; but not so much in every particular as is generally imagined.

The greater industry of the present times has increased the number of tradesmen and laborers, so as to keep wages nearer a par than could be expected from the great increase of gold and silver.