Landmarks in English Industrial History

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Direct regu- lation was first tried, and again the beginnings of mercantile doctrine are to be found in the reign of Richard II. In 1381 the export of gold or silver oversea was prohibited, as ''if it should longer be suffered it would shor*^ly be for the destruction of the realm". There is here no very clear distinction as to whether Parliament thought the realm would suffer by the withdrawal of coinage or the dwindling of treasure, but the fact that not only money, but plate is mentioned, see...ms to show that something more than care for the currency was in men's minds. During the next century the idea of keeping money in the country inspired much legislation, aliens being required to give security that they would not export bullion, the papal merchants being especially watched and suspected, while in Edward IV. 's reign the offence of exporting coin became a felony.
But the results of all these measures were clearly not very satisfactory, for it was almost impossible to prevent money being smuggled abroad ; so long as merchants wished to send it abroad, some would continue to be sent in spite of laws.


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