Philipp von Hornick (1684)
Austria Over All If She Only Will
NINE PRINCIPAL RULES OF NATIONAL ECONOMY
First, to inspect the country's soil with the greatest care,
and not to leave the agricultural possibilities or a single
corner or clod of earth unconsidered. Every useful form
of plant under the sun should be experimented with, to
see whether it is adapted to the country, for the
distance or nearness of the sun is not all that counts.
Above all, no trouble or expense should be spared to
discover gold and silver.
Second, all commodities found in a country, which
cannot be used in their natural state, should be worked
up within the country; (Process raw materials within the
country to create finished products, thereby increasing
their value.) since the payment for manufacturing
generally exceeds the value of the raw material by two,
three, ten, twenty, and even a hundred-fold, and the
neglect of this is an abomination to prudent managers.
Third, for carrying out the above two rules, there will be
need of people, both for producing and cultivating the
raw materials and for working them up. (Encourage
population growth while ensuring people are engaged
in productive activities and equipped with necessary
skills.) Therefore, attention should be given to the
population, that it may be as large as the country can
support, this being a well-ordered state's most
important concern, but, unfortunately, one that is often
neglected. And the people should be turned by all
possible means from idleness to remunerative
professions; instructed and encouraged in all kinds of
inventions, arts, and trades; and, if necessary,
instructors should be brought in from foreign countries
for this.
Fourth, gold and silver once in the country, whether
from its own mines or obtained by industry from foreign
countries, are under no circumstances to be taken out
for any purpose, so far as possible, or allowed to be
buried in chests or coffers, but must always remain in
circulation; nor should much be permitted in uses
where they are at once destroyed and cannot be
utilized again. (Implement policies to prevent the
outflow of wealth, particularly gold and silver, from the
country.) For under these conditions, it will be
impossible for a country that has once acquired a
considerable supply of cash, especially one that
possesses gold and silver mines, ever to sink into
poverty; indeed, it is impossible that it should not
continually increase in wealth and property.
Fifth, the inhabitants of the country should make every
effort to get along with their domestic products, to
confine their luxury to these alone, and to do without
foreign products as far as possible (Encourage
consumption of goods produced within the country,
reducing reliance on imported items.) (except where
great need leaves no alternative, or if not need, wide-
spread, unavoidable abuse, of which Indian spices are
an example). And so on.
Sixth, in case the said purchases were indispensable
because of necessity or irremediable abuse, ( Prioritize
direct exchange of domestic goods for essential items
that cannot be produced locally. ) they should be
obtained from these foreigners at first hand, so far as
possible, and not for gold or silver, but in exchange for
other domestic wares.
Seventh, such foreign commodities should in this case
be imported in unfinished form, and worked up within
the country, thus earning the wages of manufacture
there. (Import raw materials or unfinished goods and
process them domestically to create finished products.)
Eighth, opportunities should be sought night and day for
selling the country's superfluous goods to these
foreigners in manufactured form, ( Actively seek
markets abroad for excess domestic products,
prioritizing trade for gold and silver.) so far as this is
necessary, and for gold and silver; and to this end,
consumption, so to speak, must be sought in the
farthest ends of the earth, and developed in every
possible way.
Ninth, except for important considerations, no
importation should be allowed under any circumstances
of commodities of which there is a sufficient supply of
suitable quality at home; (Limit the importation of
goods that can be produced domestically, even if they
are of lower quality or higher cost.) and in this matter
neither sympathy nor compassion should be shown
foreigners, be they friends, kinsfolk, allies, or enemies.
For all friendship ceases, when it involves my own
weakness and ruin. And this holds good, even if the
domestic commodities are of poorer quality, or even
higher priced. For it would be better to pay for an
article two dollars which remain in the country than
only one which goes out, however strange this may
seem to the ill informed.
Thomas Mun
Englands Treasure by Forraign Trade. or The Ballance
of our Forraign Trade is The Rule of our Treasure
Chapter 1 The Qualities which are required in a perfect
Merchant of Forraign Trade.
Mun discusses the qualities and skills necessary for
successful merchants engaged in international trade,
such as shrewdness, negotiation abilities, knowledge of
foreign markets, and financial acumen. He may provide
examples of successful merchants from history and
highlight the importance of these qualities in enhancing
a nation's trade.
Chapter 2: The Means to enrich this Kingdom, and to
encrease our Treasure.
Mun explores various means by which a nation can
enrich itself through foreign trade. This may include
discussions on the benefits of exporting surplus goods,
the importance of maintaining a favorable balance of
trade, and strategies for maximizing revenue from
imports and exports. He may also touch upon the role
of government policies in facilitating trade and
stimulating economic growth.
Chapter 3: The particular ways and means to encrease
the exportation of our commodities, and to decrease
our Consumption of forraign wares.
Mun outlines specific methods for increasing exports
and reducing imports to enhance a nation's wealth. This
could involve discussions on promoting domestic
industries, implementing trade tariffs and quotas,
fostering innovation and productivity improvements,
and encouraging domestic consumption of locally
produced goods.
Chapter 4: The Exportation of our Moneys in Trade of
Merchandize is a means to encrease our Treasure.
Mun examines the relationship between money and
trade, emphasizing the importance of maintaining a
balance between exporting goods and retaining
currency within the country. He may discuss the risks of
excessive money outflows, such as currency devaluation
and inflation, and propose strategies for managing
monetary flows to maximize national wealth.
Chapter 5: Forraign Trade is the only means to improve
the price of our Lands
Mun explores how foreign trade impacts domestic land
prices and overall economic prosperity. He may discuss
how a thriving export sector can increase demand for
land, stimulate agricultural and industrial development,
and raise land values. Additionally, he may examine the
role of trade policies and market conditions in
influencing land prices.
Chapter 6: The Spanish Treasure cannot be kept from
other Kingdoms by any prohibition made in Spain.
Mun argues against protectionist measures that restrict
foreign trade, using the example of Spain's failed
attempts to hoard its wealth through trade restrictions.
He may discuss the advantages of free trade, such as
access to a wider range of goods and markets, and the
detrimental effects of trade barriers on economic
growth and national prosperity.
Chapter 7: The diversity of gain by Forraign Trade
Mun likely concludes his work by summarizing the key
findings and insights presented in previous chapters. He
may reiterate the importance of foreign trade for
national prosperity and offer recommendations for
policymakers and economic practitioners.
Chapter 8: The enhansing or debasing our Moneys
cannot enrich the Kingdom with treasure, nor hinder
the exportation thereof.
Mun may delve into the specifics of England's trade
balances with its neighboring countries, examining
factors influencing these balances and proposing
strategies to maintain or improve them.
Chapter 9: A Toleration for Forraign Coins to pass
current here at higher rates then their value with our
Standard, will not encrease our Treasure.
In this chapter, Mun probably focuses on England's
trade relations with France, analyzing the balance of
trade between the two nations and discussing the
economic implications of their trade patterns.
Chapter 10: The observation of the Statute of
Imployments to be made by strangers, cannot encrease,
nor yet preserve our Treasure.
Here, Mun likely explores England's trade dynamics
with Spain, examining the balance of trade and
identifying opportunities for enhancing economic
cooperation or addressing trade imbalances.
Chapter 11: It will not increase our treasure to enjoyn
the Merchant that exporteth Fish, Corn, or Munition, to
return all or part of the value in Money.
Mun may discuss England's trade relations with Italy
and Mediterranean countries, analyzing trade patterns,
exploring the significance of Mediterranean trade
routes, and considering strategies for maximizing
economic gains from this region.
Chapter 12: The undervaluing of our Money which is
delivered or received by Bills of Exchange here or
beyond the Seas, cannot decrease our treasure.
Mun scrutinizes the practice of undervaluing English
currency in bills of exchange, particularly in transactions
with the Netherlands. He analyzes how this practice
affects England's balance of trade with the Dutch,
examining the consequences for England's economic
stability and wealth accumulation.
Chapter 13: The Merchant who is a mere Exchanger of
money by Bills cannot increase or decrease out
treasure.
Mun delves into England's commercial ties with Baltic
countries, focusing on the merchant role as currency
exchangers. He dissects the trade routes, commodities
traded (such as timber, grains, and naval supplies), and
the economic gains from England's participation in the
Baltic trade network.
Chapter 14: The admirable feats supposed to be done
by Bankers and the Merchants Exchange.
Mun examines England's commerce with Eastern
regions, notably Turkey and Russia, highlighting the
functions of bankers and merchants in facilitating
transactions. He dissects the trade patterns, goods
exchanged (including spices, textiles, and raw
materials), and strategies for expanding England's
foothold in Eastern markets.
Chapter 15: Of some Excesses and evils in the
Commonwealth, which notwithstanding decay not our
Trade nor Treasure
Mun analyzes England's trade relations with Africa,
exploring the commodities traded (like ivory, gold, and
slaves) and their economic ramifications. He scrutinizes
how African trade influences England's economy,
including the impact on industries, revenue generation,
and market dynamics.
the economic advantages derived from these
exchanges.
Chapter 18: How much Treasure a Prince may
conveniently lay up yearly.
un explores England's trade relationships with its West
Indian colonies, dissecting the trade patterns, economic
significance, and strategies for optimizing benefits from
this trade. He evaluates the exchange of commodities
such as sugar, rum, and tropical goods.
Chapter 19: Of some different effects, which proceed
from Naturall and Artificial Wealth.
Mun focuses on England's trade in woolen textiles with
France and Flanders, scrutinizing the trade routes,
economic implications, and strategies for strengthening
England's position in this market.
Chapter 20: The order and means whereby we may
draw up the balance of our Forraign Trade.
Mun examines England's woolen textile trade with
Spain, analyzing the trade dynamics, economic impacts,
and strategies for improving England's market share in
this sector.
Chapter 21: The Conclusion upon all hath been said
concerning the Exportation or Importation of Treasure
Mun summarizes the key findings and insights from the
preceding discussions. He reiterates the significance of
foreign trade for England's economic well-being, offers
final reflections on trade policies and strategies, and
provides recommendations for fostering future
prosperity through commerce and economic diplomacy.

Chapter 16 How the Revenues and Incomes of Princes

may justly be raised.
Mun dissects England's economic ties with its American
colonies, focusing on trade patterns, revenue streams,
and economic benefits. He scrutinizes the exchange of
goods (such as tobacco, fur, and timber) and strategies
for maximizing profits from colonial commerce.

Chapter 17: Whether it be necessary for great Princes to

lay up store of Treasure.
Mun examines England's trade connections with the
Canary Islands, analyzing the trade dynamics,
commodities traded (like wine, fruits, and sugar), and