Note 358 — Chapter IV

Serra, who wrote in 1613, is said to have been the first to prove the absurdity of discouraging the exportation of the precious metals. See Twiss on the Progress of Political Economy, pp. 8, 12, 13. But I believe that the earliest approach towards modern economical discoveries is a striking essay published in 1581, and ascribed to William Stafford. It will be found in the Harleian Miscellany, vol. ix. pp. 139–192, edit. Park, 1812; and the title, Brief Conceipt of English Policy, gives an inadequate idea of what is, on the whole, the most important work on the theory of politics which had then appeared: since the author not only displays an insight into the nature of price and value, such as no previous thinker possessed, but he points out clearly the causes of that system of enclosures which is the leading economical fact in the reign of Elizabeth, and is intimately connected with the rise of the poor-laws. Some account of this essay is given by Dr. Twiss; but the original is easily accessible, and should be read by every student of English history. Among other heretical propositions, it recommends free trade in corn.