Monopoly (as the word signifies) is the sole selling power, which whosoever hath can vend the commodity whereupon he hath this power, either qualified as himself pleases, or at what price he pleaseth, or both, within the limits of his Commission.

2. The great example of a Monopoly is the King of France his Gabel upon Salt, whereby he sells that for sixty which costs him but one; now Salt being a thing of universal use to all degrees of men, and scarce more to the poor then the rich, it seems to be of the same effect with the simplest. Poll-money abovementioned, in case all men spent equally or it, or if men be forced to take it whether they spend it or not, as in some places they are. But if men spend or eat Salt unequally, as they commonly do, nor are bound to take or pay for more then they spend, then is no other than an accumulative Excize, especially if the salt be all of one uniform goodness, otherwise it is a distinct species of Leavy, viz. a monopoly.

3. The use or pretence of instituting a Monopoly is, First, Right of Invention; forasmuch as the Laws do reward Inventions, by granting them a Monopoly of them for a certain;

(as here in England for fourteen years) for thereby the Inventor is rewarded more or less according to the acceptance which his Inventory findes amongst men.

Where note by the way, that few new Inventions were ever rewarded by a Monopoly; for although the Inventor oftentimes drunk with opinion of his own merit, thinks all the world will invade and incroach upon him, yet I have observed, that the generality of men will scarce be hired to make use of new practices, which themselves have not throughly tried, and which length of time hath not vindicated from latent inconveniences; so as when a new Invention is first propounded, in the beginning every man objects, and the poor Inventor runs the Gantloop of all petulent wits; every man finding his several flaw, no man approving it, unless mended according to his own advice: Now not one of an hundred out-lives this torture, and those that do, are at length so changed by the various contribances of others, that not any one man can pretend to the Invention of the whole, nor well agree about their respective shares in the parts. And moreover, this commonly is so long a doing, that the poor Inventor is either dead, or disabled by the debts contracted to pursue his design; and withall railed upon as a Projector, or worse, by those who joyned their money in partnership with his wit; so as the said Inventor and his pretences are wholly lost and vanisht.