REVIEW OF THEIR ADMINISTRATION. 455 inferior only to that of the far-famed " Invincible chapter Armada." ^ - ^^' A pragmatic was passed, in 1491, at the petition of the inhabitants of the northern provinces, requir- ing English and other foreign traders to take their returns in the fruits or merchandise of the country, and not in gold or silver. This law seems to have been designed less to benefit the manufacturer, than to preserve the precious metals in the country. ^^ It was the same in purport with other laws prohibiting the exportation of these metals, whether in coin or bullion. They were not new in Spain, nor indeed peculiar to her." They proceeded on the principle that gold and silver, independently of their value as a commercial medium, constituted, in a peculiar sense, the wealth of a country. This error, common, as I have said, to other European nations, was emi- 65 Cura de los Palacios, MS., lo fazer y cumplir assi : y si falla- cap. 153; who, indeed, estimates redes que sacan o lleuan oro o plata the complement of this fleet at o moneda contra el tenor y forma 25,000 men ; a round number, de las dichas leyes y desta nuestra which must certainly include per- carta mandamos vos que gelo tor- sons of every description. The neys : y sea perdido como las dichas Invincible Armada consisted, ac- leyes mandan, y demas cayan y in- cording to Dunham, of about 130 curran en las penas en las leyes de vessels, large and small, 20,000 nuestros reynos contenidas contra soldiers, and 8,000 seamen. (His- los que sacan oro o plata o moneda tory of Spain and Portugal, vol. v. fuera dellos sin nuestra licencia y p. 59.) The estimate falls below mandado : las quales executad en that of most writers. ellos y en sus fiadores." ^ En el real de la vega de Gra- 67 Pragmaticas del Reyno, fol. nada^ December 20th. (Pragma- 92, 134. — These laws were as old ticas del Reyno, fol. 133.) "Y as the fourteenth century in Castile, les apercibays," enjoins the ordi- and had been renewed by every nance, " que los marauedis porque succeeding monarch, from the time los vendieren los han de sacar de of John I. (OrdenangasReales, lib. nuestros reynos en mercadurias : 6, tit. 9, leyes 17-22.) Similar y ni en oro ni en plata ni en ones were passed under the con- moneda amonedada de manera que temporary princes, Henry VH. and no pueden pretender ygnorancia : VIII. of England, James IV. of y den fiangas lianas y abonadas de Scotland, &c.
