In , he was appointed to the standing commission on trade alongside Thomas Mun. During the period between Misselden was embroiled in a public debate with Gerard De Malynes see below about the causes of the outflow of metal in England. While Malynes argued that the outflow of bullion was caused by speculative banking and a low domestic exchange rate, Misselden argued that the shortage was caused by an unfavorable balance of trade. Misselden, like Mun, argued that England needed to export more than it imported, but unlike Mun, he was skeptical of the fact that the East India Company was essentially being granted a monopoly on trade. Misselden, before going to work for the East India Company, wrote in defense of a more oligopolistic trade industry and you can find this defense in his famous tract Free Trade, or the Means to Make Trade Flourish A year later, in The Circle of Commerce, or the Balance of Trade… , he reverses this particular position and writes in favor of the actions of the company.
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His fellow-commissioner was Robert Barlow, East India merchant. The negotiations, however, were fruitless, and the report of the Amboyna massacre made progress difficult. He returned to Delft at the end of November , and during the next four years he was again employed by the East India Company in the Amboyna matter.
Dudley Carleton , the English ambassador at the Hague , believed that he had been bribed by the Dutch, while the States-General , on the other hand, suspected him of compromising their interests by sending secret information to England, and confronted him October with some of his letters. His case was taken up by the privy council, and reparation was made The merchant adventurers at Delft were strongly presbyterian , and John Forbes , their preacher, exercised great influence.
He was ultimately turned out, and the company chose in his place Samuel Avery, a presbyterian. Around he was in Hamburg , and tried to make himself useful to the Parliamentary regime; but his reputation as a royalist told against him. In his Free Trade, or the Means to make Trade flourish, London, , he discussed the causes of the alleged decay of trade, which he attributed to excessive consumption of foreign commodities, exportation of bullion by the East India Company, and defective searching in the cloth trade.
Gerard Malynes immediately attacked his pamphlet, opposing the principles of foreign exchange. He defended the exportation of bullion on the ground that by the re-exportation of the commodities the country was thus enabled to purchase, the treasure of the nation was augmented. His theory of the balance of trade is similar to that later developed by Thomas Mun.
Edward Misselden and Gerard de Malynes
JoJogor Most widely held works by Edward Misselden. His fellow-commissioner was Robert Barlow, East India merchant. E Book 3 editions published in in English and held by 4 WorldCat member libraries worldwide. Free trade; or, The meanes to make trade florish by Edward Misselden Book 11 editions published in in English and held by WorldCat member libraries worldwide. A Study in Mercantilism.