Thus our present War with _France_ is to some few people odious, to many invidious, and to all visible, and this therefore must be the cause of all National Calamities.
Whereas many things are better with us now than if we had no War; a frequency of Parliaments, an universal vigilance, a care of Shiping; a choice of able Ministers, (and not unskilful Favorites in most places of greatest Trust;) an intire Allyance with the most useful Neighbours; an honest imployment for all dissolute Men; an honourable provision for younger Sons of Gentlemen; a perfect understanding between the King and his People; an almost total desistance from an unreasonable and disadvantageous Commerce with _France_; a more brotherly Correspondence with the Dissenters (being all equally engaged in the Publick danger). We have great Honour by the Bravery of our Arms, and the most important assistance we give to all _Christendom_ against _French_ and _Turk_. Our King is become the _Generalissimo_ of _Europe_, and his Fleet give Laws in all Seas.
These and many more to the better part of the Nation are the advantages of this necessary tho’ expensive War.
But there are some that look upon it with an evil eye, and then the badness of money, and the scarcity of it, and the Exporting and melting down, and hoarding it, and the rise of Gold, and the dearness of Commodities, and the badness of Trade are all as evident effects of the War as the Taxes are.
Though in truth this is all Humour and Caprice, and none of it more ridiculous than when the hoarding up of Money is imputed to the War, which is the meer effect of the dearness of Silver, as the dearness of Silver in _England_ is the natural effect of its dearness abroad, and its dearness abroad to the obstructions of Trade, which would be if only _France_ and _Spain_ were at War, since _Spain_ is the Silver Market of the whole World.
Ever since the extraordinary abasement of Coyn by an unparalleled Counterfeit and Clipping, people have hoarded up Money apace, not knowing how far the debasement would run; and fearing if they put their good Money out they should at the long run be forced to be paid back in they know not what themselves.
Nor hath the beauty and rarity of uncorrupted and undiminished Coyn, added a little to the humour of hoarding it up.