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The knitt wollen cappe of Toledo in Spaine, called bonetto rugio colterado, so infinitely solde to the Moores in Barbarie and Affricke, is to be prepared in London, Hereforde, and Rosse, and to be vented to the people, and may become a notable trade of gaine to the marchaunte, and a greate reliefe to oure poore people and a sale of our woll and of our labour; and beinge suche a cappe that every particular person will buye and may easelie compasse, the sale wil be greate in shorte time, especially if our people weare them at their first arryvall there.

Thus all thinges removed that mighte bringe discouragemente, the firste that tooke the enterprise in hande have wonne greate honour and highe estymation with all degrees in England, and, havinge by these former meanes wonne to defraye all the chardges of the brunte off the enterprise, they stande full able to followe the same withoute cravinge aide of the lingringe marchaunte, and have the possibilitie onely to themselves of the trades of traficque with the people, which they may bringe aboute eyther with curtesie, or by pollicie and force, as by joyninge now with this petite kinge, and nowe with that, &c.

By the greate plentie of those regions the marchantes and their factors shall lye there cheape, buye and repaire their shippes cheape, and shall returne at pleasure withoute staye or restrainte of forreine prince; whereas upon staies and restraintes the marchaunte raiseth his chardge in sale over his ware; and, buyenge his wares cheape, he may mainteine trade with smalle stocke, and withoute takinge upp money upon interest; and so he shalbe riche and not subjecte to many hazardes, but shalbe able to afforde the comodities for cheape prices to all subjectes of the realme.

This newe navie of mightie newe stronge shippes, so in trade to that Norumbega and to the coastes there, shall never be subjecte to arreste of any prince or potentate, as the navie of this realme from time to time hath bene in the portes of the empire, in the portes of the Base Contries, in Spaine, Fraunce, Portingale, &c., in the tymes of Charles the Emperour, Fraunces the Frenche kinge, and others: but shall be alwayes free from that bitter mischeefe, withoute grefe or hazarde to the marchaunte or to the state, and so alwaies readie at the comaundement of the prince with mariners, artillory, armor, and munition, ready to offende and defender as shalbe required.