A26698	----	About mending the coyn. Neale, Thomas, d. 1699? 1695 Approx. 13 KB of XML-encoded text transcribed from 4 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2004-05 (EEBO-TCP Phase 1). A26698 Wing N335 Wing A97A ESTC R1333 12885958 ocm 12885958 95026 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A26698) Transcribed from: (Early English Books Online ; image set 95026) Images scanned from microfilm: (Early English books, 1641-1700 ; 1:23 or 1872:14) About mending the coyn. Neale, Thomas, d. 1699? 1 sheet (2 p.) Printed by F. Collins in the Old-Bailey, London : 1695. P. 2 signed: Tho. Neale. Item at reel 1:23 identified as Wing A97A (number cancelled). Reproduction of original in Columbia University Library and Goldsmiths' Library, University of London. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Great Britain. Broadsides -- England -- 17th century. 2003-12 TCP Assigned for keying and markup 2004-02 SPi Global Keyed and coded from ProQuest page images 2004-03 Mona Logarbo Sampled and proofread 2004-03 Mona Logarbo Text and markup reviewed and edited 2004-04 pfs Batch review (QC) and XML conversion ABOUT Mending the COYN . It appearing the Interest as well as the Desire of the KING and his People , That some Regulations should this Sessions be made in the COIN , and the Sence of many that have it , that the Loss by Clipt Money , in some measure occasioned by Publick Connivance , should be by the Publick made good , as well as the Standard Preserved ; That is , what Silver is Coyned should so be ( as hither to has been ) at 5 s. and 2 d. per Ounce , being what will be most for preserving the Honour of England , and most for the Interest of His Majesty , and the Head Owners of Lands in the point of Revenue and Rents , and that this may be done with more Iustice , Ease , and less Expence to the Nation then it can by Raising the Standard , and making more Money by Tale from a Pound of Silver , then by the present Standard is allowed to be made , and that as to what relates to Forreign Trade , an Ounce of Silver , call it what you will , is but an Ounce , and will purchase no more in a great many Pieces than in few , and that by being so made into fewer Pieces , 't will not be kept longer from being carryed abroad , and that as much Silver will be brought to be Coyned when the Old Standard shall so anew be Establisht , that no Money debased by Clipping or otherwise , shall longer pass in the Kingdom , are Positions if contradicted in Print , they soon will , and may be easie in Print ( having been so already ) maintained , and that the Difficulties to be feared in effecting this matter , with Honour , Satisfaction , and Iustice to all Parties concerned , and without Interruption of Trade , and with as little Expence to the Nation , as a thing of this nature can be , may no way obstruct the Trying to do it at this time , 'T is PROPOSED , 1. THat a Fund of 50000 l. yearly ( to which the late House of Commons seemed willing ) should be setled to make good the Loss , which cannot well he conceived to amount to what the said 50000 l. yearly will ( in the manner hereafter Proposed ) make good , and some easie Fund may be found for it . 2. That a Million of Money ( which also may this way be easily raised ) in Clipt Half Crowns , be sunk by a Lottery , which 't is believed will take them all up ; and if that it be Enacted , That such shall be taken for Tickets , and that no person shall be obliged to take any Clipt Half Crowns ( any otherwise than by Weight ) after Three Months , they all will come tumbling in , and the Owners of them will be pleased , having a Courtesie done them . Supposing such Allowance in the Lottery given , that every Adventurer shall be no Looser by it , which 40 s. yearly for each 10 l. paid in for each Ticket will do , and so few Prizes over ( and without any Rebate ) will encourage its filing ; That whereas 40000 l. yearly , ( besides a Rebate ) for a Sixteen years Term , worth 300000 l. to bring in the Money was allowed as a Gift in the last , a bare 50000 l. in Money , put into a 1000 Fifty pound Prizes , will be sufficient to do it in this , and a Fund may be easie found for it . 3. That the rest of the Clipt and Silver Money , Sixpences and Shillings , should be received by the King ( as now 't is ) in all Loans and Payments whatsoever , to be made in the Exchequer , for Six Months after the Three allowed for the Half Crowns , and that nothing but Silver Money ( as now 't is ) should during that time , be taken for Taxes by the Crown . This will in that time bring it all into the Exchequer , if that it be made publick , That His Majesty will not , and that no other shall be obliged to take it ( but by weight ) afterwards ; this will keep it Currant for publick Convenience , for so long as the King takes it , and will make the Owners willingly part with it to the Publick , that it may not remain , and afterwards fall in their Hands . This leaves not the least room for Complaint , every Owner of Clipt Money having opportunity given him to part with 't , without Loss if he will ▪ and so in no sort will give Discontent , nor prove any way Prejudicial to the Currant Trade of the Nation , but on the contrary , bring out the heavy Money laid up of late , in hope that the Standard would be raised ; which ( in case it be not by Authority ) will go for no more than its weight , and whilst this is doing , so much New Money , from the old Melted down , will be Coyned , as with the help of the Old Money unclipt , will serve for the Publick Convenience , and not interrupt Trade in the least . Now to this 't will be presently said , If your Money now Currant be allowed so long to pass , as before is proposed , the Clipping Trade still will go on . To which it may be answered , and so 't will if nothing be done , and the inconvenience that would accrew to the People in general , if the Currancy of it were stopt all at once would certainly be greater by much . And To this it will further be said , If the King takes the Million in half Crowns , Proposed to be raised by the Lottery as a good Million of Money , and the other One or Two Millions ( tho I cannot think so much will be ) in the other Clipt Money , as good : Whereas in value it may not , ( it may be ) arise to above Three fifths , one with another of it : that is , supposing every Million so received not worth above 600000 l. What shall the King do , if he may not pay it out at the rate he received it , for the other 400000 l. which will of such Million be wanting ? Note , By this Proposal his Majesty's Affairs need not to be disappointed , nor to suffer at all in the least , since it may be avoided thus : Let the Money so received by the Crown from the Lottery , half Crowns and otherwise in Clipt Money be , ( by Sworn Officers on purpose appointed ) melted down and assayed , and then by Weight and Fineness delivered to the National Land Bank , or other trusty Persons for that purpose to be appointed : and for every Hundred Pounds ( reckoned at the Standard the Money shall be Coined at ) that shall be wanting of what 't was taken by the King at , by Tale , let 5 l. yearly , out of the aforesaid 50000 l. yearly , be settled ( till paid off by Parliament , ) which will fully enable such Bank , or other Persons intrusted , to answer the King his full and whole Money by Tale , as fast as he 'll draw it upon them ; and the Money so Melted , may , and must forthwith be Coined ; and thus this may be done with all Justice and Ease , as aforesaid . Decemb. 4. 1695. LONDON : Printed by F. Collins in the Old-Bailey , 1695. ABOUT Mending the COYN . It appearing the Interest as well as the Desire of the KING and his People , That some Regulations should this Sessions be made in the COIN , and the Sence 〈…〉 have it , that the Loss by Clipt Money , in some measure occasioned by 〈…〉 Connivance should be by the Publick made good , as well as the Standard Preserved ; That is , what Silver is Coyned should continue so to be ( as hitherto it has been ) at 5 s. and 2 d. per Ounce , being what will be most for preserving the Honour of England , and most for the Interest of His Majesty , and the Head Owners of Lands in the point of Revenue and Rents , and that this may be done with more Iustice , Ease , and less Expence to the Nation then it can by Raising the Standard , and making more Money by Tale from a Pound of Silver , then by the present Standard is allowed to be made , and that as to what relates to Forreign Trade , an Ounce of Silver , call it what you will is but an Ounce , and will purchase no more in a great many Pieces than in few , and that by being so made into fewer Pieces , 't will not be kept longer from being carryed abroad , and that as much Silver will be brought to be Coyned when the Old Standard shall so anew be Establisht , that no Money debased by Clipping or otherwise , shall longer pass in the Kingdom , are Positions if contradicted in Print , they soon will , and may be easie in Print ( having been so already ) maintained , and that the Difficulties to be feared in effecting this matter , with Honour , Satisfaction , and Iustice to all Parties concerned , and without Interruption of Trade , and with as little Expence to the Nation , as a thing of this nature can be , may no way obstruct the Trying to do it at this time , 'T is PROPOSED , 1. THat a Fund of 50000 l. yearly ( to which the late House of Commons seemed willing ) should be setled to make good the Loss , which cannot well be conceived to amount to what the said 50000 l. yearly will ( in the manner hereafter Proposed ) make good , and some easie Fund may be found for it . 2. That a Million of Money ( which also may this way be easily raised ) in Clipt Half Crowns , be sunk by a Lottery , which 't is believed will take them all up ; and if that it be Enacted , That such shall be taken for Tickets , and that no person shall be obliged to take any Clipt Half Crowns ( any otherwise than by Weight ) after Three Months , they all will come tumbling in , and the Owners of them will be pleased , having a Courtesie done them . Supposing such Allowance in the Lottery given , that every Adventurer shall be no Looser by it which 40 s. yearly for each 10 l. paid in for each Ticket will do . And , Whereas 40000 l. yearly , ( besides a Rebate ) for a Sixteen years Term , worth 300000 l. to bring in the Money was allowed as a Gift in the last , a bare 50000 l. in Money , put into a 1000 Fifty pound Prizes , will be sufficient to do it in this , and a Fund of 200000 l. may be easie found for it . 3. That the rest of the Clipt and Silver Money , Sixpences and Shillings , should be received by the King ( as now 't is ) in all Loans and Payments whatsoever , to be made in the Exchequer , for Six Months after the Three allowed for the Half Crowns , and that nothing but Silver Money ( as now 't is ) should during that time , be taken for Taxes by the Crown . This will in that time bring it all into the Exchequer , if it be made publick , That His Majesty will not , and that no other shall be obliged to take it ( but by weight ) afterwards ; this will keep it Currant for publick Convenience , for so long as the King takes it , and will make the Owners willingly part with it to the Publick , that it may not remain , and afterwards fall in their Hands . This leaves not the least room for Complaint , every Owner of Clipt Money having opportunity given him to part with 't , without Loss if he will , and so in no sort will give Discontent , nor prove any way Prejudicial to the Currant Trade of the Nation , but on the contrary , bring out the heavy Money laid up of late , in hope that the Standard would be raised ; which ( in case it be not by Authority ) will go for no more than its weight , and whilst this is doing , so much New Money , from the old Melted down , will be Coyned , as with the help of the Old Money unclipt , will serve for the Publick Convenience , and not interrupt Trade in the least . Now to this 't will be presently Objected , If your Money now Currant be allowed so long to pass , as before is proposed , the Clipping Trade still will go on . To which it may be answered , and so 't will if nothing be done , and the inconvenience that would accrew to the People in general , if the Currancy of it were stopt all at once would certainly be greater by much . And it may Further be said , If the King takes the Million in half Crowns , Proposed to be raised by the Lottery as a good Million of Money , and the other One or Two Millions ( tho I cannot think so much will be ) in the other Clipt Money , as good : Whereas in value it may not , ( it may be ) arise to above Three fifths , one with another of it : that is , supposing every Million so received not worth above 600000 l. What shall the King do , if he may not pay it out at the rate he received it , for the other 400000 l. which will of such Million be wanting ? Note , By this Proposal his Majesty's Affairs need not to be disappointed , nor to suffer at all in the least , since it may be avoided thus : Let the Money so received by the Crown from the Lottery , half Crowns and otherwise in Clipt Money be , ( by Sworn Officers on purpose appointed ) melted down and assayed , and then by Weight and Fineness delivered to the National Land Bank , or other trusty Persons for that purpose to be appointed : and for every Hundred Pounds ( reckoned at the Standard the Money shall be Coined at ) that shall be wanting of what 't was taken by the King at , by Tale , let 5 l. yearly , out of the aforesaid 50000 l. yearly , be settled ( till paid off by Parliament , ) which will fully enable such Bank , or other Persons intrusted , to answer the King his full and whole Money by Tale , as fast as he 'll draw it upon them ; and the Money so Melted , may , and must forthwith be Coined ; and thus this may be done with all Justice and Ease , as aforesaid . Decemb. 4. 1695. THO. NEALE . LONDON : Printed by F. Collins in the Old-Bailey , 1695. 
A27258	----	Proposals humbly offered to the honourable house of commons first, for a way, or method, to procure bullion. Secondly, that His Majesty, and subject, will be gainers thereby. Thirdly, that it will highly tend to the good of trade, and commerce in general, during the time the moneys shall be re-coining. Which are as follows, (viz) R. B. 1696 Approx. 6 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). A27258 Wing B169 ESTC R219345 99830823 99830823 35277 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A27258) Transcribed from: (Early English Books Online ; image set 35277) Images scanned from microfilm: (Early English books, 1641-1700 ; 2047:5) Proposals humbly offered to the honourable house of commons first, for a way, or method, to procure bullion. Secondly, that His Majesty, and subject, will be gainers thereby. Thirdly, that it will highly tend to the good of trade, and commerce in general, during the time the moneys shall be re-coining. Which are as follows, (viz) R. B. 1 sheet ([1] p.) s.n., [London : 1696] Imprint from Wing. Signed at end: R.B. Reproduction of the original in the University of London. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England -- Early works to 1800. Money -- England -- Early works to 1800. 2008-07 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-09 Mona Logarbo Sampled and proofread 2008-09 Mona Logarbo Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion PROPOSALS HUMBLY OFFERED to the Honourable House of Commons , First , For a WAY , or METHOD , to procure Bullion . Secondly , That His Majesty , and Subject , will be Gainers thereby . Thirdly , That it will highly tend to the Good of Trade , and Commerce in general , during the time the MONEYS shall be Re-Coining . Which are as follow , ( viz ) IT is Humbly PROPOSED , that , towards regulating , and making a New COIN , Silver be reduced , and brought to Five Shillings per Ounce : And by way of encouragement to the Subject , for bringing in their Plate to be Coined ; which I Humbly Conceive the only way to procure a speedy Supply of Bullion at this Necessitous Juncture . THE Government , by way of Encouragement , allowing Ten Pounds Interest , for Eighteen Months , for One Hundred Pounds value of Plate , to be brought in to be Coined ; and so in proportion for a greater , or lesser Sum ; and His Majesty to have the use of the Money , as the same shall be Coined ; which may ( in a great measure ) be compleated in Six Months , and will bring a speedy Supply , by making daily Payments , so soon as the said Money shall be Coined ; which Money will Circulate amongst the Subject , and , at the same time , answer His Majesty's present Occasions . AND by way of further Encouragement to those , who shall bring in their Plate , at the time of weighing , and delivering the same , in order to be Coined , there may be Bills , or Notes , advanced by the Government ; with the aforesaid Interest allowed into the same : And the Bills , or Notes , ( so advanced , being Stamp't or Marked , to prevent Frauds , or Counterfiting the same ) be made , to pass from Man to Man , in any Payment whatsoever , which said Notes , or Bills , will supply the use of Money , by settling a Fund for that purpose , as a Security for the same ; and support , and carry on Trade , until such time as the said Eighteen Months shall be Expired , by which time , there may be Coin sufficient to discharge the said Bills , or Notes , otherwise , they may be continued for a longer time , as to Your Great Wisdoms shall seem Meet . AND the better to enable His Majesty to pay the aforesaid Interest , with Submission to this Honourable House , ( I humbly conceive ) there may be Two Shillings per Pound discounted out of the value of Coin , by lessening it Six Pence in every Five Shillings ; which Amounts to Ten Pounds per Cent , and will answer the Interest of the Ten Pounds per Cent allowed to those Persons , who shall bring in their Plate so to be Coined ; and not only discharge the aforesaid Interest so allowed , but ( as I humbly presume ) will be a great , and the only means to keep our Money at Home : Which , should Coin be made of the full value with Bullion , in case of a Rise of Bullion , it will be in Danger of being melted , or carried abroad to supply a dearer Market : And , upon the aforesaid considerations , 't is to be hop'd , all people will readily bring in their Plate ; which did not Cost them above Five Shillings per Ounce , besides the making , they having the present Advantage of using their Moneys , and receiving such Large Interest for the same ; which would otherwise remain in their hands as a Dead Stock and Charge . IT is supposed , by most People , that the value of Plate , in this Kingdom , exceeds that of our Coin ; and considering the great Numbers of Silver Tankards , and other Plate , in all Taverns , Victualling-Houses , and Publick Houses of all sorts , there may be a sufficient Supply from thence ( without having regard to greater Quantities in Private Houses ) to Coin several Millions , when so brought in ; besides what will be brought in by private Houses , under the Encouragements for that purpose . And Publick Houses are very sensible their Plate is of great Disadvantage to them , in many kinds , being glad to embrace such an Opportunity as this may be , [ if approved on by this Honourable House ] to dispose of the same under such Advantages , and for the preventing such Mischiefs as they have often met with . BUT should an Unwillingness appear in some Persons , after all the Encouragements before premised , to bring in their Plate , ( I humbly conceive ) a Duty , or Tax , may be laid upon all persons , as to this Honourable House shall seem convenient , thereby to Obliege them to the same ; Goldsmiths and Traders excepted , for the supply of their Shops and Trades : And the said Goldsmiths and Traders to be limited from Buying , or Melting down any Old Plate , for the space of Eighteen Months ; which will invite all other persons to bring in their Plate , to be Coined for the Use of the Government . And the Duty , or Tax , so laid upon those who shall not bring in their Plate , 't will be a help to Repair the Loss , sustained by Clipped and Adulterated Money . R. B. 
A32536	----	A proclamation for the calling in all moneys of gold and silver coyned or stamped with the cross and harp, and the circumscription, the commonwealth of England, and for making the same to be current onely to the first of December next, and no longer England and Wales. Sovereign (1660-1685 : Charles II) 1661 Approx. 6 KB of XML-encoded text transcribed from 2 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2003-09 (EEBO-TCP Phase 1). A32536 Wing C3459 ESTC R10037 12275812 ocm 12275812 58441 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A32536) Transcribed from: (Early English Books Online ; image set 58441) Images scanned from microfilm: (Early English books, 1641-1700 ; 863:46) A proclamation for the calling in all moneys of gold and silver coyned or stamped with the cross and harp, and the circumscription, the commonwealth of England, and for making the same to be current onely to the first of December next, and no longer England and Wales. Sovereign (1660-1685 : Charles II) Charles II, King of England, 1630-1685. 2 leaves. Printed by John Bill and Christopher Barker ..., London 1661. Reproduction of original in the University of Illinois (Urbana-Champaign Campus). Library. Imprint from colophon. Caption title. At head of title: By the King. At end of text: Given under Our court at Whitehal, the seventh day of September, 1661. in the thirteenth year of our raign. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. 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Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- England. 2003-04 TCP Assigned for keying and markup 2003-05 Apex CoVantage Keyed and coded from ProQuest page images 2003-06 Mona Logarbo Sampled and proofread 2003-06 Mona Logarbo Text and markup reviewed and edited 2003-08 pfs Batch review (QC) and XML conversion CR DIEV·ET·MON·DROIT HONI·SOIT·QVI·MAL·Y· PENSE royal blazon or coat of arms By the King. A PROCLAMATION For the calling in all Moneys of Gold and Silver Coyned or Stamped with the Cross and Harp , and the Circumscription , The Commonwealth of ENGLAND ; and for making the same to be current onely to the First of December next , and no longer . CHARLES R. WHereas in the time of Our absence from this Our Kingdom of England , several pieces of Gold and Silver were Stampt with new Motto's and Inscriptions , that is to say , One Piece of Gold , supposed to be of the value of Twenty shillings Sterling , to be called the Twenty shillings Piece , Stamped on the one side with a Cross , and a Palm , and Lawrel , with these words , ( The Commonwealth of England ; ) and on the other side with a Cross and Harp , with these words ( God with us ; ) One other Piece of Gold-money of Ten shillings , to be called the Ten shillings Piece ; and one other Piece of Gold-money of Five shillings , to be called the Five shillings Piece , with the same Words , Inscriptions , Pictures , and Arms on each side as the former . And for Silver-moneys , Pieces of Five shillings , and Pieces of Two shillings six pence , and Pieces of Twelve pence , and Pieces of Six pence , having the same Words , Inscriptions , Pictures , and Arms on each side as the former ; also Pieces of Two pence , and one penny , having the same Pictures and Arms as the former , without any Words or Inscriptions ; and the half-penny , having on the one side a Cross , and on the other side a Harpe . Which several Coyns of Gold and Silver were appointed by the late Usurpers , to pass in all Receipts and Payments , as other lawful and currant Moneys used to do , and haue accordingly beén used in all Commerce and Traffick ever since Our Return : Nevertheless , We cannot but take notice that these Coyns were Stamped , not onely without , but against Our Authority , and were intended by the late Usurpers as a high Contempt of Us , Our Crown and Dignity . And though We have hitherto forborn to restrain the use of these Moneys , as being unwilling to make too sudden an alteration in the Common Traffick and intercourse betweén Our Subjects ; Yet having found by experience , that this Our indulgence hath proved the unhappy occasion of very great mischief to Our People in general , whilst evil-disposed persons have taken a liberty to Counterfeit , Wash , Clip , and File , as many of this Coyn as they thought fit ▪ and do still continue such their practises , hoping thereby to escape the penalties of Our Laws until these Moneys shall be made Legal and Currant Money by Our Proclamation . We have therefore thought fit , and do hereby publish and declare Our Royal Will and Pleasure , That all such Pieces of Gold and Silver as have been Coyned since the year One thousand six hundred forty eight , with the Stamps , Motto's , and Inscriptions aforesaid , and are of the like Standart and Allay with the rest of the Currant Moneys of this Our Realm , shall from henceforth , and until the last day of November now next ensuing , be received and used in all Payments as lawful Money of England , and so are hereby made and declared to be according to their several and respective Rates and Ualues , for which they were Coyned : And that if any person or persons shall hereafter presume to Wash , Clip , File , Counterfeit , or otherwise abuse any Coyns having the Stamps and Impressions aforesaid , That then all and every such offenders shall be proceéded against according to the Laws and Statutes of Our Realm , made against such persons as Counterfeit , Wash , Clip , File , or otherwise abuse the lawful and currant Moneys of Our Realm , and shall suffer pains of death , and incur such other Forfeitures and Penalties as use to be inflicted in like cases . And that Our Subjects may not continue long under the daily hazard of receiving false and adulterate Moneys , which are more frequently and usually to be found in the Coyns of the Stamps and Impressions aforesaid ; We do further publish and declare Our Royal Will and Pleasure , That from and after the last day of November , now next ensuing , no Moneys whatsoever , either of Gold or Silver , having the Stamps and Impressions aforesaid , shall at any time be received , allowed , or taken as currant Money , nor shall the same be used in any Receipts or Payments whatsoever , but shall from thenceforth cease to be lawful Money of England , to all intents and purposes whatsoever . Nevertheless , that such of Our Subjects in whose hands these Moneys shall be found , after the last day of November next ensuing , may not suffer too great damage or prejudice thereby , We are pleased further to declare , That all and every person and persons who shall bring any Gold or Silver Coyn of the Stamps and Impressions aforesaid , into Our Mint in the Tower of London , shall there receive the like quantity of lawful and currant Moneys , weight for weight , allowing onely for the Coynage . Given at Our Court at Whitehal , the Seventh day of September , 1661. in the Thirteenth year of Our Raign . God save the KING . LONDON , Printed by Iohn Bill and Christopher Barker , Printers to the KING' 's most Excellent Majesty , 1661. At the KING'S Printing-house in Black-Fryars . 
A31622	----	A fund for supplying and preserving our coin, or, An essay on the project of new-coining our silver Chamberlen, Hugh. 1695 Approx. 29 KB of XML-encoded text transcribed from 9 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-01 (EEBO-TCP Phase 1). A31622 Wing C1874 ESTC R3961 11791897 ocm 11791897 49237 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A31622) Transcribed from: (Early English Books Online ; image set 49237) Images scanned from microfilm: (Early English books, 1641-1700 ; 20:6) A fund for supplying and preserving our coin, or, An essay on the project of new-coining our silver Chamberlen, Hugh. 15, [1] p. s.n., [S.l. : 1696?] Caption title. Attributed to Hugh Chamberlen. Cf. Wing. Date of publication from Wing. Reproduction of original in Columbia University Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. 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Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Great Britain. 2006-07 TCP Assigned for keying and markup 2006-07 Aptara Keyed and coded from ProQuest page images 2006-08 Judith Siefring Sampled and proofread 2006-08 Judith Siefring Text and markup reviewed and edited 2006-09 pfs Batch review (QC) and XML conversion A FUND For Supplying and Preserving Our COIN . OR , An Essay on the Project of New-Coining our SILVER . WHen I had read the REPORT , &c. and considered the Author's Pains , and the Search he had made , and thereby brought to light , the state of our Coin for many Ages ; I could not but approve his Industry and Care in this so great a Concern , as our Nation hath of late labour'd under . And therefore gave my self diligently to consider , what weight might be in those that oppose his Reasons . And to examine the force of their Arguments , it may not be improper to reduce them to a few Heads , wherein I hope to Contract the Substance of their several strongest Allegations , at least so far as may be worth notice . And I shall begin with theirs , who say , 1. The Alteration of our Coin to be less in Weight than heretofore , will be of no Advantage to us . 2. Our Money will then purchase no more of Inland or Forreign Commodities than before ; because Wares will rise proportionable to the advance in Money , so that Silver by the Ounce will buy no more Goods than it did before . 3. The Exchange they say , will always follow our state of the Coin , be it Better or Worse . 4. 'T will have no influence to make Coin'd or Vncoin'd Silver more plenty among us . 5. The Ballance of Trade sometimes requires , that Bullion either Coin'd or Vncoin'd , must be sent out of the Nation ; and when it comes abroad , they 'll put no more Value on it than before . 6. All Bargainers will be Cheated , in receiving less than their Agreements , as Landlords less Rents , Merchants less Silver in payment , and the King less Taxes . 7. That Forreigner's that have Lent to the Crown , will have less by receiving Smaller Money , and thereby be discourag'd from Lending again . 8. That all these together will Ruin us . And in order to plenary Satisfaction to all Unbyassed Persons , I shall endeavour to Answer them one by one . 1. 'T is Alledged , The Alteration of our Coin to be less in Weight than heretofore , will be of no Advantage to us . I humbly propose it will ; for as we have cause to believe , former Ages saw good Reasons from time to time to lighten our Coin , from 20 s. 3 d. for the Pound Troy-weight , to 3 l. 2 s. so I hope to demonstrate our Governours now have cause , if they New-Coin the Money to lighten it yet once more , from 3 l. 2 s. the Pound Troy-weight , to about 3 l. 18 s. or 4 l. especially if it shall be consider'd , that if it be now Coin'd at the said Rate of 4 l. to a Pound Troy-weight , it is but to continue it about its present state ; whereas it must be granted , that to New-Coin it at the old weight , is to make an Alteration , and that at a time very unfit , when the Nation is in an Expensive War , and when Forreigners have great Estates here , which they want to carry Home . 2. But say they , If our Money be New-Coin'd lighter , 't will purchase no more Inland or Forreign Commodities than before , because Wares do and will rise proportionable to the Advance in Money , so that Silver by the Ounce will buy no more than it did before . I Answer , that Position is not always true , nor is it the only Reason of our present Advance on Goods , but 't is complicated with other Causes , as the Losses of great quantities of Goods by the War , especially homewards , whereby those Goods that are left Sell quick , and would have Sold quick , had the state of our Money remain'd as formerly ; for may it not be well-acknowledged what great Rates ( even as great as now ) Goods Sold at in a former War , viz. about Anno 1667 ? And yet the Money was then almost twice as heavy as now . And tho' we should make it heavy again , yet it may most reasonably be judged Forreign Goods will Sell quick and high , while Trade is liable to the Obstructions and Hazards of War : But should the making our Coin heavier , thereby make our own Commodities Cheaper , I hope there 's none but will grant , that were then England's great Disadvantage . 3. Again , They say the Exchange will always follow our state of the Coin , be it Better or Worse . But that I deny , for this Age hath furnisht us with Experience to the contrary ; and that when our Coin was weighty , the Exchange sometimes varied heretofore greatly , upon great Emergencies of State and Trade , as well as now , and yet it was then esteem'd , no Cause of altering our Money ; nor was the Exchange so much alter'd this time Twelve-month , tho' our Money was then near as Bad as now , and worse than it would be , were it New-Coin'd at a quarter or third part less in weight , than the old Standard . Besides , they argue to our Loss , who say , The Exchange will rise in proportion to our New-Coining the Money , if we make it of the old weight . And to shew they propose our Loss , let 's draw their Argument into a Demonstration . Suppose by their Rule our Pound Sterling should again be made near Four Ounces , then the Exchange will rise to 35s . Flemish per Pound Sterling . First , I say , How can they tell that ? Yet for the present let 's grant it , and then we shall see that One Ounce weight of our Silver purchaseth 8 s. 9 d. Flemish , and Four Ounces at 8 s. 9 d. Flemish per Pound Sterling is 35 s. Flemish . Which I hope is thus demonstrable to be vastly our Prejudice , for our present state of the Coin and Exchange is 30 per Cent. better ; because now our Pound Sterling while it weighs but about Two Ounces and a half , is worth about 28 s. 4 d. Flemish , whereby we have 11 s. 4 d. per Ounce weight of Silver ; so that the Change they would have us make ( by their own Rule ) is visibly 30 per Cent. Loss to England ; as you may see by Substracting the Purchase of One Ounce of Silver in Flemish Money at their Rate , which is 8 s. 9 d. from the present Course , which is 11 s. 4 d. the difference whereof is 2 s. 7 d. and that is about 30 per Cent. So that if the Subject hath occasion then to remit 1000 l. of New-Money of Four Ounces to the Pound , at 35 s. Flemish , he will lose 300 l. by it , of what he would do , to remit 1000 l. of our present Money at our present Exchange of 28 s. 4 d. And if the King were to remit Three Millions in Pound Sterling of Four Ounces at 35 s. Flemish per Pound , he would lose near a Million by it , of what he would do at the present Exchange , by the aforesaid Demonstration . Their Fourth Mistake is , 'T will have no influence to make Coin'd or Vncoin'd Silver more plenty amongst us ; and they give some Reasons for it , as they think , but they go but a little way : They say indeed , If the Silver be Coin'd a quarter or third part less , Commodities will rise proportionable , so that I shall then Buy no more Commodities with a Hundred Ounces of Silver than I did before . But did I yield them that to be true ; yet here they go from their own Arguments , which was , that it would not make either Coin'd or Uncoin'd Silver more plentiful , which I call their Mistake ; for let them consider , in that Country where a Commodity will yield most , thither 't will go , and that made Forreigners get our Crown-pieces ; and if our Coin be New made about a quarter or third part lighter , and our old Crowns made to go at 6 s. 3 d. or 6 s. 8 d. 't will make our old Crown-pieces return hither again , if any of them are abroad unmelted : It being certain , as I said , that in what Country any thing is most Valued thither 't will go . And so much Silver come to our Mint . And as the new Coining our Crown-pieces one quarter or one third part lighter , may bring back some old Ones ; so 't will certainly bring us in great quantity of Bullion to be Coin'd ; for if it be worth , as they say , but 5 s. 2 d. per Ounce abroad , yet if an Ounce Coin'd here , be worth 6 s. 3 d. or 6 s. 8 d. 't will invite all the Bullion in Europe hither to be Coin'd , or to be sold as Bullion : For it 's granted , Bullion also will hold up the Price , if the new Crown-pieces be Coin'd one quarter or one third part lighter . 5. They think , the Ballance of Trade sometimes requires that Bullion either Coin'd or Vncoin'd must be sent out of the Nation , and when it comes abroad , say they , Forreigners will put no more value on it than before . I Answer , That 's a great mistake at this time , and if ever true , 't is only when we are guilty of Egregious False Policy , in valuing our Coin lower than other Nations : Which the better to prove , let 's observe a little of what this Ballance of Trade is ; and it is , when there is Imported into England in Goods twelve hundred thousand pound in a Year , and Exported but eleven hundred thousand pound , there the Ballance of Trade is one hundred thousand pound which England is Debtor . Which , say they , must be paid in Money . I say no Necessity for that , for suppose one of those Forreigners , that sent in part of the Goods which belongs to this Ballance of Trade , he never thinks of that , but bethinks him how most to his Profit to draw home his Estate ; whether by Exchange , or by Manufactures , or Bullion Coin'd or Uncoin'd : And if he chuses Bullion , 't is because that is more valued in his own Countrey than here , and perhaps will yield him more Profit then he can get by Commodities , so that 't is our Silver and Gold being too often under-valued here makes them be taken away , and our Commodities left , and not any otherwise does our over-Ballance of Trade mostly come , for can any Merchant tell the Time when he might not have laid out his Money plentifully enough in Cloath , Serges , Lead , Tyn , Leather , West-India Goods , &c. without ever carrying away our Coin , and that upon a suppos'd Necessity ? Again , whenever we value our Gold and Silver less than Forreigners , it tends to lower our Commodities , and our Rents , and our Lands ; as when Guineas went here at 22s . and abroad at 23s . then were they often carryed out , and the Commodities left , and the Commodities thereby falling , must need fall the Land they rise out of . And the Tenant and Occupier of Land , not being able to sell his Produce , can't pay his Rent ; therefore Landlords look you to it , if you make the Money fit for Forreigners to carry away , you lower your Tenants Manufactures , and your Lands produce first , and then your Lands also . Another Erroneous part of their pretence is , that let us over-value our Coin never so much , Forreigners will not follow us therein . But the contrary is evident , and I appeal to any Man of Knowledge herein ; Whether Guineas han't of late been sold for more Gilders in Holland since May-day , than this Time twelve-Month , so that at last 't was hardly worth their while to bring them hither ? And before I go from this Proposition about the over-Ballance of Trade , I would offer one Consideration more , viz. Whenever our Money is more profitable to Export than Commodities , it makes England Debtor upon the Ballance of Trade ; and that too in a very disadvantageous Case , for we thereby exchange an unperishable Commodity , as our Coin is allowed to be , for perishable Commodities ; I mean for Eating , Drinking and Apparel , and this has been to often our Case , while we had broad Money , or Guineas left , that they could get by fetching away . The next Proposition to be answer'd is , if the Money be made less than formerly , all Bargainers will be cheated in receiving less than their Agreements , as Landlords , less Rents , Merchants less Silver , and the King less Taxes . But pray consider , did the Landlord Lett his Land to be paid in Money as big again , as that which is Current ? Or did the Merchant sell his Goods to be paid in a new Coin ? Or the Mortgagee to be paid in bigger Money then he Lent ? No such matter , therefore if the Money be new Coin'd larger , than it has been this Year or two ; 't will be as great a loss in reality upon he that pays great Money , as 't is in pretence on the other side . But say they , Forreigners that have Lent to the Crown , will have loss by receiving it back in smaller Money , and thereby be discouraged from lending again . And now methinks , I could be glad the whole Cause were to be tried on this one Issue : For , did Forreigners lend to the Crown Money of four Ounces to a Pound Sterling ? Or did they lend such as was Current ; and such as they Lent , such let them have again ; if they Lent hundred Pound Bags of 16. or 18 l. weight , let them have such again . But what Policy is it to Coin them new Money of 32 l. in a hundred Pound , to pay them who Lent but 16 l. or 18 l. in a hundred Pound ; pray consider well of it . For hereby you 'll prevent Forreigners from lending any more ; because when you have paid them in such weighty Money , away goes their Estates that are here with this new heavy Money , and so they leave none here to lend . Whereas keep but Forreigners Stocks here , which are come over in Guineas , and you may have Money enough . Lent , and that at Interest low enough : For they can't carry back their Estates as yet , and great Estates without doubt they have here , by the pouring in Guineas , and lowering the Exchange ; which brings me to their eighth Argument 8. Wherein they say , the Consequence is , That all these things will ruin us . They mean , unless the Money be made heavy by a speedy Alteration of the Coin to the old weight . In Answer to which , I offer this Position , and hope the following Lines will prove it . That if an Alteration be now made of the Coin , to about an Ounce of Silver in a Crown-piece , 't will be ruinous to the Nation , and that in a very vast degree . First , 'T is evident , the War and our Neighbours have carried away , our East and West-India Goods , and our home-made Commodities also : And if the Silver be made heavy as formerly , there 's enow will carry that away too . Nor will they then leave us the Gold ; for if we new-Coin our Silver Money heavy , that will lower the Guineas ; and that will infallibly carry them away too ; nay , perhaps to the profit of those very Men that got 25 per Cent. by bringing them in ; and may get near half as much , by carrying them away . Nor will it be less fatal to us in the Exchange , for if they of the other side are in the right , they expect our Pound Sterling ( when we shall make it weigh near four Ounces ) to procure us but 35s . Flemish , which is about 8 s. 9 d. an Ounce . Whereas at present , we have 11 s. 4 d. Flemish , for an Ounce of Silver , as is before demonstrated . So that to alter our Money at this Time , is to make the Exporters thereof a profit , which they greatly desire ; and they will greatly admire our Prudence , so to fit our Crowns to their Politick-Heads , and our Coin to their Covetous Purses . Nor is this all the fatality attends us , from their carrying back their Estates in Coin , who brought it in Guineas ; but it will also stop their laying out their Stocks , ( they have here ) in English Produce and Manufactures , which they have begun to buy , and will go on to do , if we don't inconsiderately furnish them another way to carry off their Estates . For it must be granted , that , though some of the Guineas that came , were sent for by our own People : Yet vast quantities of them , were sent hither by Forreigners ; and of such Forreigners Estates prodigious summs , may well be supposed to lye here still , and groan to get home ; and therefore they use their skill , to have the same Guineas , or other Coin adapted to their devices . Nor is it Forreigners only ; but also some of our own People , would by it make themselves an advantage ; and they are of two sorts . First , Such as are for any gain they can come at , and will venture Exporting Money when so very profitable , though it be so positively against Law ; which fairer Traders scorn to do : And to give those Secret designers , an opportunity to out-do Honester Men , is no true Policy ; if it were not attended with these general damages to the Nation . The other sort of our own People , that fall in with this Interest of Forreigners ; may be those , who have undertaken to remit Money for the Government , and they will needs get by their Trade , and 't is very good Reason they should ; yet can't they propose another way , than that , which will rob us of our Treasure . For that 's the plain Consequence of making our Money so heavy . Ever since Anno 1660. the weight has robb'd us of it , by Exporting , or Melting , or both . And is not 35 Years Experience sufficient to shew us , we must take a contrary Method , if ever we will preserve it here ? For those designing Men , whose Interest it is to Melt or Transport it , will hardly forbear , though it were ever so Penal ; because they can transact it with Privacy . Therefore , consider the Proposals in Esquire Lowns's Report : Where he doth not only propose as our Advantage , that our Coin be made lighter . But shews , that in former Times our Ancestors did often find occasion so to do , and pray what dishonour did ever attend their making it lesser ; when they kept up to the Fineness ? It may be granted , when the Money has been made Courser , they have soon found Reason to alter it . But did they ever see cause to reform , after they had lighten'd it ? And what ever Reasons they had , we seem to have much more . For I appeal to all judicious Men , whether ever Forreigners had such vast Estates here as now , and when they please to have them home , have they any more then these four Ways , viz. in Silver , in Gold , in Exchange , or in Goods ? 1. They can't carry away our Silver at the present value of it here , not Uncoin'd Silver , because 't is worth here 6 s. 5 d. and abroad about 5 s. 2 d. nor can they carry it off in our Coin as it now is , ( or if new Coin'd at one quarter or one third part advance ) because it goes for much more here , then it would there . But should our Silver be reduc'd , that one Pound Sterling should have in it near four Ounces of Silver , away they 'd carry that . Or should we thereby lower Uncoin'd Silver to 5 s. 2 d. upon a small turn of the Exchange , away goes that too . And the Consequence is the same upon Guineas ; and pray consider , that unless they will take them of us at that Rate , we have took them from them , they ought not to carry them away ; but rather leave them where they are . 3. Nor can they carry it all away by Exchange ; for if very many of them should go about that , t' would lower the Exchange to their loss ; perhaps more than they got by bringing in Guineas . But as the Case now is , 't is their Interest , as well as our own , to keep up the Exchange . Whereas , if we gratifie them in falling our Guineas , and greatening our Silver , 't will also raise the Exchange : So that then they have three ways to chuse , and may leave our Manufactures to fall . But should we so see their devices ( and the ruine impends us thereby ) as to avoid fitting their Interest , in either of the said three ways ; then they have but one left , and that 's the Fourth . 4. Viz. To carry off our Commodities , and they are Men but of short sight , that see not how greatly that will still raise our Commodities : Although perhaps they are as much advanced already , as the Guineas are . Yet for the Forreigners to carry back their Estates in Commodities ; the English growth and Manufacture , and that of our Plantations , must yet still advance ; to the great enriching of this Industrious Nation . And were it not false Policy with a witness , to lose this opportunity of selling our Goods 50 per Cent. above whatever they would give for them , when they could get by carrying away our Coin : Especially , when we have given them so dear for their Money . Rather let it stay and circulate three Times , through the Manufactures of England , while our Goods are at these advanced Prizes ; then in the thrice circulating , we shall not only get the advance , the Guineas has got , but also the whole Guinea . But they say , if our Commodities are so dear , they won't turn to account abroad : That I deny too , unless there was another Virginia to afford them Tobacco , or another Barbadoes to yield them Sugar , or another England to yield them broad Cloaths , Serges , Kersies , Bays , and Stockins , Lead , Tin , and Leather ; for seeing this is the Store-house , from whence they must have these useful Commodities for Trade ; when they have them abroad , they 'll go near to ask as much profit upon them , as they did before , when bought here at 40 per Cent. less . And though it be objected , That they who bought early , whether Forreigners or English , will under-sell the Dear Buyers at Markets abroad ; yet that will soon be over , and then all may run equal . Besides , if we continue our Coin , about the weight the currant Money now is , Silver will hold about 6 s. 5 d. or 6 d. and that may Incourage Forreigners to send theirs hither , and that will raise the price with them , as it has done with us ; and so it hath done already with Guineas , for they could not lately be bought , to bring hither with much Advantage ; but 't will be with large Advantage they 'll carry them out , and our New Money too , if we make it large . And though they boast they have gull'd our People , to get the Guineas taken at these high Rates , yet it 's much to be hoped , our Government will not be over-reacht by them , so as to make it their Advantage to carry it away , with as much Profit as they brought it in . But if it shall seem meet to the Wisdom of the Parliament , to New-Coin it again , please to consider , nothing is so like to keep it here , as to make 100 l. of Sterling , to weigh about so many Pound of Silver , as it now does ; and then it will equally answer all Bargains now on foot ; and the King will equally pay those that have Lent Money , according to the goodness or weight of the Money they Lent ; and thereby the Estates of Forreigners will still be continued here , and be probably Lent to the Crown , if need should require , at Four or Five per Cent. Interest . Whereas should the Coin now be made large , and thereby , as is before-demonstrated , it be all , or most of it carried away , what shall we have to Lend the Government , or Pay our Merchants and Landlords ? Will they be willing to take Hens , and Pease , and Barley , for Rent , as is common in Scotland ? For the Reducing our Coin to half the quantity which it now is , will render the Nation so bare of Money : First , By its quantity , being less . Secondly , By their carrying much of it away ; that each Trader will have little enough left to maintain the Necessary Payments of Trade , and Expences , and Taxes , and the fewer to spare to Lend to the King. But some may Object , This great uneasiness in the People , under the present Circumstances of the Badness of Money , necessitates somewhat to be done . 'T is true , there is the Disease ; but it don't need so desperate a Remedy . For if the Government should see good to make the Guineas every where passable at 30s . and they thereby become Currant at the Exchequer , the Custom-House , Excise-Office , and in payment for other Taxes ; then will the People also take them freely , and we should have Money Circulate amain ; then would Taxes come in easily , Rents be well paid , and great quantities of Money ready to purchase Lands of any Seller , and quantities ready for the Crown ; and all the uses of Money well-supplied , without the Charge of Altering the Money at all , at this Juncture , when it can so ill be done ; or when such Difficulties attend the finding any other Fund at this time to answer the Loss : And this is the Fund I propose , both to supply our want of Acceptable Cash to pay every Body , and to carry on the Affairs of the Nation , by making the Guineas passable at 30 s. And for the Counterfeit Money , a little time will furnish most People with Judgment enough to avoid that ; and then where 's our need of an Alteration , till the Nation is again in Peace and Prosperity ; and by that time you may so find the sweet of keeping the Money here , as willingly to Coin it in such Bulk as may continue it with us hereafter . It will also be made yet more easie , if the next Fifty or a Hundred Thousand Pounds of Gold that shall be Coin'd , be done in half Guineas , to go at 15s . Thirds of Guineas , to go at 10s . Sixths of Guineas , to go at 5s . then surely we shall not need to go upon this Chargeable and Ruinous Affair now at this time , when the Nation hath so many ways for all the Money they can spare , both at Home for our Navy , and Abroad for our Army . Ay , say they , for our Army , how will you pay and supply them ? And truly if this were rightly answer'd , I hope their Cause were at an end . Therefore let 's divide their Objection into two parts , and answer them asunder ; and First for the Pay. For that , let us give the King so much the more ; we were better do that , than Ruin us all ; as would be the going away of all our Coin. And if we give the King , in the Quota Allotted to pay the Army one fourth part more , that will be a much less Inconvenience ; and keeping the rest here , our Commodities will Sell well and quick , and the Nation grow Rich under all ; especially , if Providence Bless the Care of our Superiors , in protecting our Trade with Success . As for the other part of their Objection , The Supply of the Army with Necessaries ; let them eat our own Bread , and wear our Apparel : I mean , let them be Cloath'd from England as before ; let their Beef be sent them from England or Ireland , and their Bread ready Bak'd , and Cheese , and Pease , and Fish , as are provided for the Navy , and most part will Circulate among our selves . And thus having Answer'd all their Valuable Objections I have met withal ; I shall close this Discourse with a Brief Summary of the whole Matter . 'T is our Interest to be Keepers of our own Coin our selves . If Forreigners have Estates here , let them take them home in English Commodities at these Advanced Prizes they now bear , and that 's the way to equal the Ballance of Trade ; for the more Commodities goes out , the less the Nation is Debtor on the Ballance of Trade . Or if they won't do so , let them leave them here to Lend the Government . But don't let us make it their Interest , to Rob us of our Treasure , instead of Buying our Commodities . May the Almighty Bless the Debates of our Grandees , and give a Happy Issue to their Consultations , is the Hearty Desire of England's Well-wisher . FINIS . A FUND For Supplying and Increasing Our COIN . 
A25994	----	Several assertations proved in order to create another species of money than gold and silver Asgill, John, 1659-1738. 1696 Approx. 68 KB of XML-encoded text transcribed from 44 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-01 (EEBO-TCP Phase 1). A25994 Wing A3932 ESTC R16480 13618403 ocm 13618403 100812 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A25994) Transcribed from: (Early English Books Online ; image set 100812) Images scanned from microfilm: (Early English books, 1641-1700 ; 832:40) Several assertations proved in order to create another species of money than gold and silver Asgill, John, 1659-1738. [2], 85 p. s.n., [London : 1696] Signed: J. Asgill, 1696. Place and date of publication from Wing. Reproduction of original in Library of Congress. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. 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Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England -- Early works to 1800. 2006-02 TCP Assigned for keying and markup 2006-05 SPi Global Keyed and coded from ProQuest page images 2006-06 Andrew Kuster Sampled and proofread 2006-06 Andrew Kuster Text and markup reviewed and edited 2006-09 pfs Batch review (QC) and XML conversion SEVERAL ASSERTIONS PROVED , In Order to Create another Species of MONEY THAN GOLD AND SILVER . SEVERAL ASSERTIONS PROVED , &c. First Assertion . That there seemeth a Necessity of creating another Species of Money than Gold and Silver . BY Necessity I don't mean an absolute Necessity , but such a Necessity that either this must be done , or a worse thing will ensue for want of it . The past Contracts now depending in the Kingdom for payment of Moneys in Specie do far surmount all the Species of Money in the Kingdom ; and because Money is become more valuable than Bills of Credit , therefore they that have the demands of it do and will demand it ; and the more they demand it , the higher the price rises , so that the price multiplies the demands , and the demands advance the price , which renders the performance of these past Contracts to be impossible : And thus the Kingdom stands Stock-jobbed , by being obliged to deliver what they have not : And yet these Contracts ( tho' they are impossible to be performed ) are lawful , for by the Law where the Condition of a Bond is impossible , the Bond it self is absolute , and the Obligee may sue for the Penalty , and have Judgment ; and if ( in this Case ) the Plaintiffs happen to be more than the Defendants , they may have Execution too ; but if the Defendants come to be more than the Plaintiffs , there 's an end of the Law. And notwithstanding that the whole Moneys of the Kingdom stand anticipated by the past Contracts , the present Exigencies and the growing Contracts call for as much more , and 't is impossible to answer these Demands but by the Money due on the former Contracts , taking it from whence 't is already due , and lending it to the present Wants ; and thus the Publick have had the greatest part of their late Supplyes , ( which I don't observe as a misapplication of the Moneys , ( under our Necessities ) but as an Evidence of our Necessities ) Therefore for preserving the peace of the Kingdom , in relation to the past Contracts , and for raising the present and future Supplyes , there doth seem a Necessity of creating another Species of Money than Gold and Silver . Second Assertion . That this Necessity is no Cause to discourage Proceedings in publick or private Affairs , but rather to force us upon an Invention which otherwise we should not find out . All the Improvements in the World have been produced from the Necessities of Men , putting them upon Invention , according to that saying , Venter largitor Artium : Shame invented our Cloathing , Cold our Houses , Hunger our Food , Sickness our Physick , and Rapine our Laws ; Laws necessitated Trade , Trade necessitated Money , and the multiplyed occasions for Money doth now put us upon a necessity of inventing another Species of it , and therefore we must find it out . What if the Spaniards Mines were exhausted , or the Laws of their Countrey ( prohibiting the Exportation of them ) observed , must the whole World stand still ? As Silver and Gold were invented for Money , when they were to be had , so when we cann't have that , we must invent something else ( which may be had ) instead of it . The whole World once lay open for Man and Beasts to be Tenants in common of it all , but while it lay so , it was incapable of improvement , because no Man could preserve the benefit of his own Labour to himself , and this forced men upon Agreements to inclose , and that every Man should have a Property in his own Inclosure , which was the first initiating of Laws , and this Law forced Trade . For the Earth consisting of divers Veins , of different qualities , distant from one another , one man came to have occasion of something which lay in ( alieno solo ) another man's Inclosure , and so they exchanged with one another ; but the things exchanged not being always equal in value , nor to be delivered at the same time and place , put men upon an Invention of Pledges , or security for the things delivered , until the value thereof should be returned in another Commodity ; and these at first were but particular Tokens between one man and another , 'till by degrees Silver and Gold ( having acquired a certain value from the uses made of it for other things ) became the common pledge of the World , and by further degrees the Values thereof came to be ascertained by Laws , which hath advanced it to an extravagant price , contrary to the original intention of it . The sole use of Money ( as Money ) is but to keep an Account of other things by ; it is a Tool in Trade found out by the Policy of Man , and that it might not grow into any other use , the first Law of the World ( foreseeing the mischief ) forbid those that had it , from taking Interest for the Loan of it , from any but those whom they designed to impoverish by it : But since this prohibited use of it hath advanced it above its original institution , we must invent something else instead of it , as they who had the first Occasions of Money did invent Gold and Silver : And therefore this Necessity is no Cause to discourage us from proceeding in publick or private Affairs , but rather to force us upon an Invention which otherwise we should not find out . Third Assertion . That all Proposals for making Bills of Credit current Money directly , by Act of Parliament , can be of no use in this Invention . For , 1. These Proposals are Unjust , being more than the Law doth in relation to the Coyns of the Kingdom . The Law never makes the Coyns of the Kingdom to be current in any Payments but where they are agreed to be paid , but these Proposals would make these Bills current in Payments , in which they were never agreed for , therefore they are unjust . 2. They are Illegal : I mean , they are an Inversion of Laws , which the Legislative Power have no power to do ; their Name defines their power not to be absolute , but only a power of making Laws ; and the intent of all Laws being for the preservation of Life and Property , whatever violates this Intent , is no Law. Should an Act pass , that every Man in the Kingdom should kill himself , or give his Estate to any one else that would do it for him , this would be no Law , nor any Man's Life or Estate bound by it . Now some Men have turned their Properties into Land , and some into Money , and all by Agreements with one another ; and should an Act pass , that a Man who hath agreed for , and purchased 500 l. per Annum in Land , should convey that Estate to any Man who would pay him 10000 l. in Gold or Silver , this would be no Law ; then by the same parity of Reason , should an Act pass that any Man who hath contracted for 10000 l. to be paid him in Money , should assign this Contract to any one , who would convey to him 500 l. per Annum in Land , this would be no Law ; for if such Acts should be admitted as Laws , they put an end to all Laws . Men cann't deal but by Agreements with one another , and if the Law will invert those Agreements , this puts an end to all dealing , and therefore these Proposals are Illegal , by which I hope I shall not be censured as irreverent of the Legislative Power , for I mention this in reverence to those Laws of which they are the Legislators . I don't say , but one Man may by Conquest get an absolute Power over another , but this is by Usurpation and Wrong , and not by Law ; for all Laws are the Agreements of Men , and no Man ever by his own Agreement delivered himself into the disposal of an absolute Power . God himself ( tho' a supream Power , and absolute over all ) doth not demand Man to deliver himself up into his Power as absolute , but treats with him by a Law of Justice , in which he makes himself a Party , and stands obliged to the performance of several things , as the Condition of Man's Obedience , and therefore for man to assume a right of Government by an absolute Power , is to set himself above God. 3. These Proposals are impracticable , and ( should they be granted ) would be ineffectual . Suppose an Act should pass , that a tender of a Bill of 100 l. should be a sufficient tender of 100 l. contracted for in lawful Money of England , and the People should think themselves bound by this as a Law , then their study would be to evade this Law , by changing their Contracts from lawful Money of England to some other Species , As so many Ounces of Gold and Silver , which would not be construed to be lawful Money of England , and so then the Act would not reach it ; and if the Act should follow these Contracts , and be changed as often as the Contracts , it must at last be so general , that a tender of a Bill for payment of 10 l. should be a good tender for all Commodities agreed to be delivered of the value of 10 l. and so when a Man had contracted for a Horse , he should have a Bank Bill delivered him to ride on , and therefore the Proposals are impracticable , and ( if granted ) would be ineffectual . 4. These Proposals are fallacious , and carry a Cheat in the bottom ; for the Bills being given out for payment of Money , if the Law releases the payment of the Money , and makes the Bill it self a good tender , there 's nothing left to answer the Debt but the Paper or Parchment on which the Bill is written , which is worth nothing , and therefore the Proposals are fallacious , and carry a Cheat in the bottom : And for all these Reasons they can be of no Use in this Invention , of finding out another Species of Money than Gold and Silver . Fourth Assertion . That this Species must be made of something that hath all the Qualities of Money . Money hath these several Qualities : First , The Mettal of which it is made is Valuable , from the other Uses made of it ; for Silver and Gold do not receive their Value from being made Money , but Money receives its value from being made of Silver and Gold : For Money ( as Money ) hath no other value than Figures or Counters , by which Men keep Accounts with one another ; but because Money is now become a common Pledge , it must be made of something that hath in it self a real Value from other Uses , whereby whoever hath these Tokens , may purchase any Commodity with them , according to their Value in weight in all other places as well as where the Money was coined , and therefore nothing can be made Money but what is thus valuable , from the other Uses made of it . The Second Quality of Money is Durableness and Incorruption , which is also Necessary . The Third Quality is Divisibleness into greater or lesser-peices , without which it cannot be used as Money . Fourthly , The Value of each piece is certified by the stamp , without which it could not be used as Money , by the common People . Fifthly , The Title thereof is readily transferrable ; the Delivery only makes it a Title : And this is as necessary for making it money as any of the other qualities : For were the Titles of Land transferred to the Titles of Money , it would cease to be Money , notwithstanding all its other qualities ; were it necessary to have a Lease and Release , Feofment or Bargain and Sale , and ( if it came by the Wife ) a Fine , to the Transferre of every peice of money , the Charge and Trouble of this would soon reduce our Nobles to Nine-pences . Now all these qualities being Necessary to Money , nothing that wants either of these qualities can be Money , Therefore this Species must be made of something that hath all these Qualities . Fifth Assertion . That whatever is capable of all these Qualities of Money , is capable of being made Money . The Philosophers define all Substances by Qualites ; they say , That whatever hath all the qualities of a thing , ceases to be a likeness , and is become that very thing . Now I don't say , that whatever hath all the qualities of Money , doth thereby become Gold and Silver , but it becomes Money . Gold is money , and Silver is money , and yet Gold is not Silver , nor Silver Gold. Things of different Substances may be put to the same use ; Brick and Stone , Brass and Copper , Lead and Iron , may be all adapted to the same Uses , being stamped into the same Forms ; Therefore whatever is capable of all the Qualities of Money , is capable of being made Money . Sixth Assertion . That the Securities on Lands are capable of all the Qualities of Money , and therefore they are capable of being made Money . First , The Lands on which the Securities are charged , have in themselves a real Value , from the other Uses made of them , which need not be enumerated . Secondly , They are durable and incorruptible : The Earth is the great Store-house of the World , where all the magazines of Life and Defence are kept sweet and safe . Thirdly , These Securities are divisible into greater or lesser Summs . Fourthly , The Value of each Security may be certified by a stamp given to it . Fifthly , The Title of these Securities may be transferrable , by delivery only : And all this is proved by Fact ; And therefore these being all the Qualities of Money , and the Securities of Lands being capable of all these Qualities , they are capable of being made Money . Seventh Assertion . That these Securities of Lands being thus formed into the Qualities of Money , it is in the Power of the Owners of the Lands themselves to make these Securities to be Effective and Lawful Money of England , By reserving the Rents of their Lands payable in them . First , This would make them effective Money : The use of Money is to buy Commodities , now these Securities will buy Land , and therefore they will buy all Commodities . The common definition of Money , That 't is Money that buys Land , is comprehensive of all the uses of it ; for whatever will buy Land will buy all Commodities . What we call Commodities is nothing but Land severed from the Soil : The Owners of the Soil in every Country have the sale of all Commodities of the Growth of that Country , and consequently have the power of giving Credit in that Country , and therefore whatever they will accept for their Commodities is Money . Man deals in nothing but Earth ; the Merchants are the Factors of the World , to exchange one part of the Earth for another : The King himself is fed by the labour of the Ox , and the cloathing of the Army , and the victualing of the Navy , must all be paid for to the Owner of the Soil , as the ultimate Receiver , and whatever the ultimate Receiver will demand or accept , must be a Rule for the intermediate Receivers to govern themselves by : All the other Contracts of the Kingdom must follow the Reservation of the Rents ; and hence 't is that all the present Contracts of the Kingdom are agreed to be paid in Money , because the Rents of the Lands are reserved payable in it ; and therefore if these Rents were reserved in the Securities of Land , form'd into the Qualities of Monies , ( which we call Bills ) it would force other Contracts to be made payable in these Bills , and consequently make these Bills effective Money . Secondly , As they would thereby become effective Money , so they would become Lawful Money of England ; because the Law would compel the payment of them . The Law of England hath given no other sanction to Gold or Silver , than to certifie the value of it , to tell the People what it is , that when they make Contracts about it , they may know what they do . The Law saith that such a piece of Money , stamped into the King's Coin , shall be esteemed five shillings of lawful Money of England , whereby whoever makes a Contract to pay five shillings of lawful Money of England , knows what he is to deliver , and he knows that the delivery of that piece will be a good discharge of his Contract . But the Law never compels any person to make these Contracts , nor ever compels the payment of this Money , or makes the tender thereof to be a good payment , in any case , but where it so agreed between the Parties ; and this is no more but what the Law doth to any other thing contracted for , as well as Money : The Law no more admits Gold or Silver Money to be a tender for Corn , or Cattle , contracted to be delivered , then it doth admit Corn or Cattle to be a tender for Gold or Silver Money contracted to be delivered , for the Law respects nothing but the agreement of the Parties ; and by the same reason that the Law obliges the payment of Gold and Silver , it would oblige the payment of these Bills , in case they were agreed to be paid : And therefore it being in the power of the Owners of the Lands , to reserve their Rents payable in these Bills ; and the other Contracts of the Kingdom being govern'd by the Reservation of the Rents , and the Law compelling the performance of those Reservations and Contracts , it is in the power of the Owners of the Lands to make these Bills effective and lawful Money of England , by reserving their Rents payable in them . Eighth Assertion . That Lands thus formed into the Qualities of Money , are more Vseful and Valuable than Gold and Silver , or any other Commodities severed from the Soyl. First , They are more Useful : Gold and Silver serve but for one use at one time , while they are used for Money , they can be used for nothing else , and while they are used for any thing else , they can't be used for Money : But Lands may be converted into Money , without loosing their other Faculties ; they serve for both uses at the same time , the Owners keep the Possession , and receive the Profits of the Soil , while the Securities thereof are used for Money ; and this is what cannot be done in Securities of Pledges , or Pawns of Commodities severed from the Soil ; for when the Owner makes these a Security , he must part with them out of his possession , and can make no use of them 'till he hath redeemed them . 2. As they are more Useful , so they are more Valuable : What serves for two uses at once , is more valuable than what serves but for one ; if Silver and Gold could serve for Money and Plate both at the same time , or if Commodities severed from the Soil , could retain their own natural uses , and also serve for Securities of Money at the same time , they would both be double the value they now are ; for by loosing one of their uses , they loose the value at which they are valu'd in respect of that use ; therefore Lands retaining their own natural use , while they are made Money , are more Useful and Valuable than Gold and Silver , or any other Commodity severed from the Soil . Ninth Assertion . That it will be in the Power of the Bank from whom these Bills are issued , to make them more Valuable than other Money , by accepting them at a higher Rate , and that they will be Gainers thereby . The Profit of a Bank depends upon the Credit of their Bills , and the Credit of their Bills depends upon their making them more Valuable than Money ; and the making their Bills more valuable than Money depends on their accepting of them at a higher Rate than Money . Money and Bills never keep long at a par ; if Bills are not better than Money , they 'll soon be worse : If Money gets the upper Hand of Credit , it puts an end to all Credit . There is at this day no Credit in the Kingdom . Credit is when Men choose Bills rather than Money , and not when they take them only because they can't receive Money . The present Credit of the Kingdom is no more than the Credit of a man who can't pay his Debts , and therefore gives Bond , which his Creditors are forced to accept for want of money . The Bank of England have issued out Bills which they cannot pay , and so the People that have their Bills must keep them . But there is no fresh Money brought into their Bank for their Bills , without which no Credit can be maintain'd : And they finding great Demands upon them , immediately raised the Interest upon their Bills , hoping thereby to keep those Bills which were out against them from being demanded of them , and to draw in fresh Monies into them : But this proved so ineffectual , that their Bills at Interest are at no more value than their Bills without Interest , which shews plainly , that the giving Interest on Bills doth add no Credit to a Bank. For raising the interest on the Bills of the Bank , raises the Interest of Monies out of the Bank , and so keeps the Monies from them . The more a Bank raises their Interest to overtake the Money , the faster the Money goes from them , raising the Interest 1 l. per Cent. upon Bills payable at demand , raises it 2 l. per Cent. on Common Securities ; therefore a Bank should always fall their Interest as fast as others endeavour to raise it . Credit is no more to be begged or bought than it is to be forced ; giving Interest on Bills is begging of Credit , or buying of Money , which may be done by a common way of mortgaging , ( without keeping Monies to pay the principal at demand ) : And it had been Policy for the Bank of England ( when they had got the Coin raised from clipt to full Money ) to have raised the value of their Bills with it , by accepting them in Reciepts of Interest , from the Crown and others , at more than Money , and then they had kept down the Price of Money below their Bills , which is now got above them : For let Money be of what Weight it will , if those who have the Receipt of it , will accept Bills at a higher rate , this doth depreciate the Money , and keeps the Bills above them : And therefore in case this Land-Bank be established by Parliament , ( as is proposed ) 't is intended that the Interest of 3 l. 10 s. per Cent. shall be reduced to 3 l. per Cent. to all those who will pay it in the Land-Bank Bills , which will advance the Credit of the Bank , and consequently their Profit ; by enabling them to lend great quantities . A Bank is like a Merchant , whose Gains don't arise from the extravagant Profit of any particular Commodity , but from the greatness of his Trade ; for the Retailers get more per Cent. than the Merchants : Therefore it will be in the power of the Bank from whence these Bills are issued , to make them more valuable than other Money , by accepting them for more than other Money , and that they will be Gainers thereby . Tenth Assertion . That this Invention falling the Interest of Money , will advance the Rents of Lands . That this Invention ( succeeding ) will fall the Interest of Money , needs no proof : But it hath been made a Question , Whether the falling the Interest of Money will advance the Rents of Lands ? And it must be confessed , that Lands already improved to the heighth , are not capable of this advantage ; but most of the Lands in England are capable of being improved to double their present Value ; in Cities and Towns by Building , and in the Countreys by Planting and Manure , and lye unimproved for want of Money ; Therefore this Invention falling the Interest of Money will advance the Rents of Lands . Eleventh Assertion . That advancing the Value of Lands in the Purchase , is equal to advancing the Rents . That the falling the Interest of Money advances Lands in the Purchase , needs no Proof : But it hath been a Question , Whether advancing the Lands in purchase be an advantage ? because the Value of the money for which they are sold is thereby depreciated : And it is certain that the falling the Interest of Money doth depreciate the Value of it , as to the Purchase of the Soil of the Lands , but it doth not depreciate it as to the Purchase of any Commodities severed from the Soil . The Interest of Money is an Annual Profit , and therefore doth affect nothing but what hath an Annual Increase . The Soil of Land is an Annual Interest to the Owner , and therefore the price thereof rises and falls with the Interest of Money , which is Annual : But the Commodities severed from the Soil lye all in Principal , and therefore the Interest of Money being Annual , doth not affect them . The Price of Corn and Cattle don't rise and fall with the Interest of Money ; or if at any time they happen so to do , it is not caused by the Rate of Interest , but some other cause which happens at that time ; Therefore the advancing the Value of Lands in the purchase is equal to advancing the Rents . Indeed , if Men were to live with the Beasts , ranging up and down the Earth , and taking their Food where they found it , Lands would be of no value in respect of Sale ; but ever since the Commencement of the Laws of Property , Money is as necessary as Bread ; and therefore whether Land will yield a hundred quarters of Corn , or will sell for as much as will buy it , is equally beneficial to the Owner . Twelfth Assertion . That this Invention perfected will extinguish the Interest of Money upon Lands , and thereby make the Lands inestimable . The Securities of Lands are now as valuable as money , or else money would not be lent upon them : And the Reason why the Owners are forced to borrow money upon these Securities , is because they can't make money of them : If therefore these Securities could be made Money , there would be no Occasion of borrowing money upon them , and consequently the Interest of money on these Securities would be extinguished , which makes the Lands to be inestimable ; for all Value is by comparison , two things of equal goodness are the value of one another , and the purchase of Lands being valued by the rate of the Interest of money , if this Interest be extinguished , there is nothing left to make the comparison whereby to value the Lands , and therefore they must be inestimable . Pleasure and Profit are all the Accomplishments of Life ; now the natural produce of Lands supplyes all the Pleasures of Life ; and if the Policy of Man can add the profit of money to it , all the accomplishments of Life are contained in it . Omne tulit punctum qui miscuit utile dulci. But this is the Invention perfected , which we must not promise our selves to see . I only mention it , to shew that the falling of Interest by th●… Invention , will be a growing improvement to Lands , even to an infinity , whereby to encourage the beginning of the Invention . I know the Mercurial Projectors of the Age skip to the top of their Notions at the first jump , like the Mother of Zebeaee's Children , who made it her first Prayer , that the two highest seats in Heaven might be reserved for her two Sons : But this shews their ignorance of Nature , who never leaps ; all ascent is by climbing , Men grow from Children , Trees from Seeds , and Learning from the Element of Letters ; I don't doubt but Lands by this Invention may be advanced to a hundred Years purchase ; but this must proceed from the Practice and Improvement of the Invention , and not the Notion of it only : If the growth of this Invention will yearly advance the value of Land one Years purchase , ( which may modestly be expected ) it is in effect doubling the present Rents . Thirteenth Assertion . That though this Improvement added to the present Value of Lands be unexpected , and surprizing , it is nevertheless plain and true , and agreeable to other productions in Nature and Arts : And though it is plain and true , it is never the less valuable , but rather the more admirable . When God had made Man , he gave him a view of all the Creatures made before him , pleasant to the eye , and pleasant to the taste , and good for food ; which was a compleat Entertainment to him , as he apprehended , for he felt no Appetite in himself , but what had a suitable Object to gratifie it . And yet all this while Man had within him a dormant Affection , ( which he did not know of ) capable of a higher Enjoyment than all his other Appetites , and this lay concealed from him , 'till the Creator presented him with his Female ; who being an Object suited to that Affection , gave him the first feeling of it . Love is an Affection contracted by the Eye , and therefore 'till the Object was produced , the Affection lay dormant , ( as Fire doth in Stones 'till they are smitten ) : If therefore the Fairest Aspect of the Creation was presented to Man , after he had ended his Expectations of being entertained with any more Objects , and consequently That highest pleasure of Life was added to him , after he had ended his Expectations of any further happiness , why should it seem strange , that other Qualities in Nature should lye concealed , 'till the Wisdom of Providence thinks fit to produce them . How many things now common in the World were kept hid from Ages past ? as the virtue of the Load-stone , and thereby the discovery of America , the use of Guns , Printing , Glass , &c. The Earth is the great Staple of the World , made by God to be manufactured and improved by Man , and perhaps the things not yet seen are greater than the things already seen . And tho' we can have no Notion of them till they are produced , yet when they are made to appear , the Concealment of them seems more miraculous than the Discovery , for the making them to appear , makes them plain , and the plain appearance of them raises an admiration , that they were never before observed . Inventions are Mysteries found out , and what is not plain , is not found out , but remains a Mystery still , so that the Author of an Invention ( 〈◊〉 make it perfect ) must thereby loose the Honour of it , and be despised , as producing a common thing . And that this may be my Fate , is the top of my Ambition ; however this proves the Assertion , That tho' this Improvement added to the present value of the Lands , seem extravagant , and be unexpected and surprising , it is nevertheless plain , and true , and agreable to other Productions in Nature and Arts : And tho' it is plain and true , it is never the less valuable , but rather the more admirable . Fourteenth Assertion . That therefore it can't be doubted but the Legislative Power will encourage this Invention , by reviving the Clauses relating to Lands , in the Act passed last Sessions , for Establishing a Land-Bank . When we address to our Superiours , for any thing to be done by them , it is Duty and Good Manners to consider , 1st . That the Notion and Intent of the thing we propose be useful and honest , in case it can be effected . 2dly . That the practice of it be made visible and plain , before we offer it : 3dly . That we prepare every thing ready for their Fiat , which is to give the Sanction ; that they may have nothing to do , but what can be done by none but themselves : Now that the Notion and Intent of forming these Securities of Lands into the Qualities of Money , and using them as Money , will be esteemed by the Legislative Power to be useful and honest , in case it can be effected , cannot remain a Doubt . Then the next Query is , Whether the practice of this Notion can be made visible and plain ? The first part of the Notion is the forming these Securities into the Qualities of Money , and this belongs to him that offers the Invention , for 't is not the Business of the Legislative Power to draw Settlements and Forms , those must be done by some one of that Science to which these Forms and Settlements relate . And that I may not seem to amuse with implicite terms , this Form is nothing but Division : The forming the Securities of Lands into the Qualities of Money , is no more than Dividing these Securities into smaller Summs . Division is the first thing in Form. In the Description of the Creation it 's said to be without Form , and void , 'till it was divided , The Light from the Darkness , and the Waters from the Dry Land ; and by these Lights , Eternity was divided , and sub-divided into Time , of Years , Days and Hours , for Man to keep his Accounts by ; for Eternity undivided is of no use to Man. Every thing is more or less valuable , as 't is more or less capable of Division . Now 'till these Securities were made divisible , all the residue of the Invention was impossible ; for if the Securities themselves are not capable of being formed into the Qualities of Money , it is not in the Power of the Parliament to make them so . But this first Part of the Invention is actually done , and hath shewed it self in all the parts of it . The 26 th . of October , 1695. was the first day of issuing out Bills charged upon Lands , ( which are the Securities thereof divided ) and these were the first Bills ( we hear of ) that have been charged upon Lands , and issued out for Money : And to give plain Instances that these Securities , so divided into Bills , are Money , the Mortgagees who had these Securities before they were divided , and were to receive the Monies due upon them , brought their Securities to the Bank , to be formed into Bills , and received back those Bills for their Money ; They brought the Bullion into the Bank , and took it back in Coin ; and for doing this the Owners of the Lands are content to pay a small Interest to the Bank , for keeping a Cash of other Monies , to answer these Bills as they are demanded , ( and this by the way may silence all Enquiries into the profit of the Bank ) : And in this manner there has been issued out forty five thousand Pounds in Bills , all which have been paid and repaid as Money , and the Bank had valued Estates for issuing out One hundred thousand pounds more , but fore-seeing the impossibility of maintaining a Credit in their Infancy , during the Regulation of the Coin , they stopt their Hands , and content themselves at present in paying their Bills already issued , and giving an undeniable demonstration of the first part of the Invention , by forming the Securities of Lands into the Qualities of Money , and thereby standing ready for the Sanction and assistance of the Legislative Power towards the perfecting of this Invention . What was passed by the Act of last Sessions , relating to Lands , and is now humbled represented to the Legislative Power , is , First , That the Subscribers may be incorporated , in order to stand seized of Lands to be conveyed to them , to prevent the charge or Fraud of Trustees . In the dividing the Securities of Lands , the Legal Estates thereof must be conveyed to Trustees , who are to stand seized in the first place for the Persons who have the Bills charged on the Lands , and afterwards in trust for the Owners of the Lands , who make the Conveyances ; and to prevent the Legal Estates from going to Heirs or Executors , there must be several Trustees in every Conveyance , which may occasion great Charge and Trouble in transferring the Securities , especially if the Trustees prove corrupt , ( which often happens in common Securities , amongst private Men ) : I have known a Mortgager forced to pay twenty Guineas to a parcel of Trustees , for sealing an Assignment of his Mortgage : Now this charge of Transferring Securities entailed on Freehold Estates , is as real Incumbrance upon them as Fines upon alienations are upon Copy-holds : And if ( as hath been observed ) the transferring the Titles of Land to Money , and making the assignment of every piece to be by Deed , would depreciate it , and incapacitate it from being Money , by the same reason the transferring the Titles of Money to Lands , and making the delivery only to be a Title , would ( of it self ) render them much more valuable ; and tho' the equitable Interests only ( which are the Bills ) can be assigned by Delivery , yet the less Charge is incident to transferring the Legal Estates , the more valuable the Lands will be , And this is the Intent of being Incorporated . A great part of the Towns and Trades in England have been incorporated by Kings or Parliaments , for the conveniency of doing their own Business . The Worsted-Weavers in Yarmouth and Lynn were each of them incorporated by Parliament , in 15 th . Hen. 8. with a power to have a Seal for their own Cloths , for no other reason than that it was before painful and costly for them to carry their Cloths to be sealed at Norwich , which they were obliged to by a former Act. And the School of Norleech in Gloucester-shire was Incorporated by Parliament , in 4. Jac. 1. upon the Opinion of three Lord Keepers , and two Judges , that they ought to be Incorporated , in order to stand seized of their own Lands ; for that the surviving Feoffee of the School-Lands went about to defraud the School , by making a long Lease to his own Son , under a small Rent . If therefore the Kings and Parliaments of England have incorporated so many Towns and Trades , for the conveniency of doing their business , and that the Parliament ( in the first of these Cases ) incorporated two Companies of Weavers , for preventing their trouble and charge in going to distant places ; and ( in the last Case ) incorporated a Countrey-School , to prevent frauds in their Trustees , can it be doubted that the present Legislative Power will deny the like conveniency for the better settling and improving all the Lands in the Kingdom ? and in this they have signified their pleasure already , by declaring ( in the Act passed last Sessions ) that the intent of the Incorporation was in order to lending Monies on Lands . The Second Thing contained in the last Act , and now humbly represented to the Parliament , is , The securing the Titles of the Lands after they are so settled : And this is intended by the Settlement already executed and practised , whereby it is declared that the Lands conveyed pursuant to that Settlement , ( as long as they stand so conveyed ) shall not be subject to any other Incumbrances than what shall be charged thereon by the Owners thereof , in the Register-Books of the Bank ; by which the Lawyers are of Opinion , that the Lands will be protected against any other future Incumbrance . But to put that out of all doubt , it was inserted in the Act , which can be no Unjustice to any , ( as a Register with a Retrospect might be ) being only the initiating of a voluntary Register , to be perfected by time . The Third Clause relating to Lands in the last Act , and now humbly represented , is , A power by publick sale to sell the Mortgaged Lands , in case the Money lent thereon by the Bank be demanded , and unpaid six years together ; and with the Money arising by sale to Discharge the Mortgage-Monies , returning the Overplus to the Owner of the Lands . And this will save Expences in Suits , which must otherwise be charged on the Lands . There are other Clauses for Transferring the Bills , Searching of Judgments , &c. for the better Security and Conveniency of the Bank. And that this Constitution may not be diverted from the end proposed and intended , we shall think it no Penalty that the Bank may be restrained from issuing out any Bills , but what shall be charged upon Lands conveyed unto them , which is more restrictive than all the Clauses drawn for that purpose by the late Opposers of the Act. Now all these being Conveniencies only , grantable by the Legislative Power , without charging any Mans Property , and the use of them seeming so necessary and advantagious , It cannot be doubted but the Legislative Power will encourage this Invention , by reviving these Clauses . Fifteenth Assertion . That it cannot be doubted but the Owners of the Lands will readily receive and use this Invention . Silver and Gold are Forreign Commodities , bought of those who are sometimes our Allies , and sometimes our Enemies , and we ( by virtue of our Agreements ) have made them Money , to the depreciating the value of our own Lands ; and shall not we ( by the same Agreements ) make Money of our Lands , which will cost nothing , and double the value of the Lands by doing it ? Never was any thing more eagerly received than Proposals for lowering the Interest of Money , insomuch that the Notions of it dispersed in common Pamphlets , brought men out of all Countreys , only to hear silly Men talk about it . Perhaps some Ceremonies may be used in the Order and precedency of coming into this Invention . When that Doctrine ( which we now profess to be our Religion ) was first vented in the World , the Priests and Rulers stood off , and would not meddle with it , because they were safely posted at the head of the Church and State , and had no occasion to expose their Reputation , by turning Projectors , and venturing upon a new thing , before they knew whether it would take or not ; and therefore they set the Publicans and Harlots ( who thought themselves to have most need of it ) to go in first , to try the Experiment ; but when they found that the thing would do , they all fell in to it one after another , 'till at last it came to be as scandalous to be out of it , as it was at first to be in it . I know the thing now proposed is New , and therefore I expect that those who are a cold must first blow this Coal , but when 't is once kindled , it can never want Fuel to maintain the Fire . We call them Fops who invent new Fashions , and yet we all follow them one after another ; some will have them in a Week , others in a Month , some in a Year after they are in , and some seven Years after they are out ; and so it is in the change of other Customs ; for if Men should be all of the same mind together , the crowd would hinder the doing the business they come about . Men fall into things one after another , as their Occasions and Inducements lead them . There is no Profit in the World made certain : All Gain depends upon the contingent Occasions and Necessities of others ; a Lawyer is not sure of Clients , nor a Physitian of Patients , nor a Landlord of Tenants , nor a Monied Man of any one to borrow of him , but they all expect the Necessities of others to support themselves by ; and therefore the present Necessities requiring the use of this Invention , it cannot be doubted but the Owners of the Lands will readily receive and use it ; and by so doing they enter into other Mens Labours , their Estates are improved to their Hands , without their Heads or Thoughts . Let but the reservation of their Leases be made thus , Yielding therefore the Summe of 100 l. in Lawful Money of England , Or in Bills of the Land-Bank , and This short Disjunctive makes the Bills Lawful Money of England , and the Owners of the Lands to be Bankers upon the Credit of their own Estates . Sixteenth Assertion . That a General Consent of the Kingdom to receive and use this Invention , would cause a sudden fall of the Price of Money , notwithstanding the practice and execution of it could not be immediately made general . By General I don't mean Universal , that every Man should set his Hand to it , but a common Approbation of it by those who know it . Men deal upon Prospects of what is like to be : Merchants and Ttraders have gotten Estates , by foreseeing the rise or fall of Commodities , and 't is observed amongst them , that an extravagant price of any Commodity doth produce a sudden fall , by putting Mens Heads to work to procure more of the same kind , or to invent something else instead of it . And did the present Owners of Money foresee a fall of it , by providing a Supply of another Species , they would part with it as they do with other Commodities , under the like apprehensions . There is no way to break Game-Houses but to keep out of them , nor any way to fall the price of Money , but to lessen the occasions of it . That therefore , &c. Seventeenth Assertion . That the Reviving these Clauses in the beginning of the approaching Sessions , will almost amount to an Vnanimous Consent of the Kingdom to receive and use this Invention ; and will thereby facilitate the raising the present Supplyes for the Government , by a sudden fall of the Price of Money . It is not intended by reviving these Clauses in the beginning of the Sessions , that the Supplies of the Government should be post-poned , but first provided for . The Government is the fence of the Kingdom , without which the Subjects cannot enjoy their Properties , and therefore to provide for our selves before the publick , is as if a Man should sow his Corn before he hath enclosed his Ground . And as our own Security obliges us to provide for future Defence , so Justice and Gratitude calls for the Arrears of the Army and Navy , who have fought upon the Honour of the Kingdom , to preserve us at home in Peace ; and therefore they who have enjoyed that repose , cannot truly call any thing their own , 'till they have made Provision to pay the utmost Farthing of so just a Debt . But the present Owners of Monies depending that there will be a Necessity of raising the value of the Coin , ( as the Term is ) will not deliver it out of their Possession to others , to receive the advantage of the rise , and 'till this matter be adjusted , they who want Money must pay Extortion instead of Interest . Now as to the thing it self of raising the Coin , to me it seems , As to past Contracts , to be an inversion of Agreements , ( of which I have before wrote my thoughts ) and as to future Contracts , to be wholly insignificant , for if I am to repay the same Money I receive , 't is no matter what the weight of it be . And upon the whole , it seems to have a Trick in it , which must be shewed but once , like the splitting of shares in Joint-stocks , to multiply them in the Hands of those whose they then are , that , before the fallacy is found out , they may sell them ( by number ) to others , who come to the right understanding of it by the fall of them in their own Hands : By which I would not be thought to reflect on those Gentlemen ( whose Opinions have seemed for it ) as designing any ill , for I own that my first apprehensions of it were different from what I have now hinted ; tho' I never read the Arguments in it , or ever concerned my self about it ; having waived the Study of it , to find out another Species besides it . And therefore I desire that what I have here offered as my present Conceptions of it , may not be taken as any part of my Argument . The Drift of this Essay is to depreciate the Value of our Gold and Silver , as it now is , by making another Species more valuable than that , by the acceptance of it at a higher rate . It is to undersell the Spaniards , by making Money of our home Manufacture , without any other charge than some Paper or Parchment ; and if the Legislative Power ( in the beginning of the approaching Sessions ) shall be pleased to declare their Resolution against raising the denomination of the value of the Coin , and will second that Resolution with reviving these Clauses , it will almost amount to a general Consent of the Kingdom to receive and use this Invention . An Act of Parliament is an Agreement of the Kingdom ; for tho' I have before ( by way of Argument ) supposed an Act to pass contrary to the Nature of Laws , yet it is not to be supposed that the Wisdom of the Legislative Power will ever do this in Fact. And I dare imitate the Prophet , to fore-tell , That a Bill of Revivor ( grounded upon these Reasons ) passed into a Law , will cause as sudden and unexpected a fall to the price of Money in England , as the Noise heard in the Camp of the Syrians did to the price of Provisions in the Seige of Samaria , and thereby give occasion to use the Acclamation of the Poet upon another Event , — Quod , optanti divum promittere nemo Auderet , volvenda dies én attulit ultrò . What Heaven durst not promise them that pray , Here 's of it self produced in a day . Eighteenth Assertion . That a Settlement of a Bank for Lands distinct by it self , without annexing it to the Supplyes of the Government , seems the best Establishment of it . The Government wanting their Supplies in Species of Gold and Silver , the Subscriptions for that purpose must be made by those who have the possession of the Money , who being ( for the greatest part ) Merchants and Traders , must thereby have the first possession of the Bank ; and they being unacquainted with the Securities of Lands , and accustomed to more present Gains then low Interest seems to them to be , they will endeavour to divert their Credit from Lands to what they apprehend more profitable , and of this we have had an Example in the Bank of England : Whereas if a Bank for Lands be established by it self , their Occasions for Money will arise by degrees , and may be raised by the Owners of the Land themselves , either in Money , or in Securities on their Lands , which ( by the assistance of this Invention ) will be equally useful as Money of Gold or Silver : That therefore , &c. Nineteenth Assertion . That a Bank thus established , will be a greater Security to the Government for the future , than a Bank set up for that purpose only . Cursed be he that divideth the Interest of the Government and People . Private Subjects have all along supplied the Government with Money , through the Bank of England as their Casheir , who have taken upon them to dispose of it as their own , and magnified themselves to the Publick for it , which hath put a Disobligation upon their Creditors , that those that have only the Receipt of the Money , should be esteemed the Owners of it : Now in this Bank here proposed , the Bank lends the Subjects , and enables them to execute the grateful office of lending the Money to the Publick with their own Hands , and to receive the Profit of it , and yet the Bank is as serviceable to the Crown , as if they lent them the Money directly , because it is incumbent on the Bank to pay the Bills , which is the most difficult part in all Accounts : And is not the Crown more secure in being supplied by a Bank , whose Securities are charged on the Lands , and their Credit supported by the Receipts of the Rents of the Kingdom , than by a Bank to which the King himself is forced to give the chiefest Credit by receiving their Bills in the publick Revenues , to his loss ? That therefore a Bank thus established will be greater Security to the Government for the future , than a Bank set up for that purpose only . Twentieth Assertion . That an Vnanimous Consent in this Establishment , would be a happy Event of the War. By the Constitution of the Government of England , the Execution of the Law is vested in the Body Politick of the King , that he may stand seiz'd thereof to the use of the Subjects , for preserving their Liberties and Estates ; and whenever that Trust is broken , the Subjects having no Court of Equity to appeal to , are driven to their Arms , and the Descent of his present Majesty with his Forreign Troops into England , was to head the Subjects against the Invasion of their Liberties , begun upon them by him , who then had the possession of the Crown , which being translated to his present Majesty , put him into the possession of the Law , and thereby the Subjects into the use of their Liberties under him . But to maintain this Possession , it was absolutely necessary to begin the War against a Forreign Power , who had made themselves formidable by unjust acquisitions from their Neighbours ; and this War hath and will cost us forty Millions of Money , directly advanced to maintain it , besides the Losses by Sea , and yet 't is the best Money that ever the Subjects spent ; for by this they have preserved the whole , which otherwise had been lost before now , and therefore according to that Saying , What is saved is got , the Expence and Loss of the War hath purchased three Kingdoms , with which we may rest well satisfied , without the fond Conceipt of the Conquest of France , which is to ask we know not what . But as a Reward to the Subjects for their Zeal and Bravery in expending so large a part of their present Possessions , to convey the Reversion of their Estates and Liberties to their Posterity , here seems a fair Opportunity offer'd ( occasion'd by the Expence of the War ) for improving their own Estates , with their Wives and Families at home , which is better than transplanting themselves to Forreign Conquests . Would but the Gentlemen of England for one Year spend as much time and pains in their several Countyes to promote this Invention , as they do to manure two Acres of Land , they would find the Improvements increasing upon them a sufficient Encouragement to proceed in it , 'till they had made themselves rich , and from their abundance the Necessities of the Poor would be supplyed . I can say truly , that the Miseries of the Poor do affect me , and yet I never had thoughts of Proposing any thing directly for their Releif , apprehending their chiefest dependance to be upon the Superfluities of the rich ; and this was the Provision made for them by the first Law of the World , which forbid the rakeing of the Corn , that the Poor might live upon the Gleanings , and the leavings of the Poor is the Provision for the Fowls of the Air — Whereas raising the Rates for the Poor , without adding something to those that are taxed , doth insensibly draw the Scot and Lot-men into the Poors-book , the Rates mulitiplying the Poor as fast as the Poor multiply the Rates — But let more be given to them who have the possession of much already , and somewhat of it will naturally fall to them that have nothing . As for the King himself , ( whose Success is our Safety ) I can't conceive him capable of any greater or less Enjoyment than his own Complacency in that Choice which hath descended upon him from Providence , to be the Deliverer of that People who have also chosen him for their Defender : And tho' his Allyance by Blood be the initiating of his Title to the Crown , yet his Election thereunto is his highest Personal Honour . To be a King is a mean thing in comparison of being made one . The Redeemer of the World was an Office of that state and dignity , that his Harbinger is declared to be the highest post of Honour that ever Man stood possessed of , and yet 't is said of this Redeemer , He gloryed not that he was an High Priest , but that he was made an High Priest : He did not magnifie himself that he was the Redeemer of the World , but that he was Chosen by God to be so . And I am glad to find my Arguments terminate here , for by this I know I have done , because I have run it where I can go no further : Nor did I know what I was going to do , when I first put Pen to Paper , or where I should begin or end , but having seen and ( for some years ) felt the extravagant rate of Money , I resolved to search the Pedigree of it , ( as Men do of Upstarts preferred above their Merit ) and if I should find it of an Honourable Descent , and absolutely necessary , I resolved to conceal it , but if I could trace its Original to be mean and inconsiderable , I resolved to expose it , thereby to vilifye it in Mens Thoughts , as not so indispensably necessary as 't is generally apprehended : Not but that Money is absolutely necessary , but not the very Money of Gold and Silver . And in pursuit of this Enquiry , I found that tho' the common use of this ( as of other things ) be obvious unto all , yet when we would dissect them , to search out the manner of their Subsistence and Operations , we find them all fastned down to the Root of Nature , by certain Fibers , which we must digg down to , and trace from thence into all the Labyrinths of Succession , feeling all our way by that thread . There are no Fractions in Nature , nor any things independant , they are all linked to one another in a continued Chain , which reaches from the Creation to Eternity : And I have so far endeavoured to imitate Nature in what I have written , as to argue from a Chain of Positions , successively depending upon one another , which is the most dangerous way of arguing , because if one Position happens to be false , it vitiates all that follow : But there is no finding out the Truth any other way . 'T is an easie matter to frame Sentences , and dance up and down with them and never be discovered whether they are true or false , because the Notions are not digested into such a Method , that either the Writer or Reader can judge of them : But when the Assertions are positive , and the Arguments to prove them follow immediately upon them , the Writer and Reader can the better judge of them , as they go along ; and if every individual be true by it self , then the whole is true altogether , or else not . And upon review of what I have written , it all seems to me to be true , or else I would not publish it ; but yet my Arguments may be fantastical and fallacious , tho' I don't know it , therefore I offer them to be scanned by others . Truth made manifest is the Foundation I have aimed at , and tho' my Assertions seem bold , I hope my Proofs do manifest them to be true ; and if in finding out the Truth I have spoken more plainly and freely of some things that have fallen into my Arguments , than otherwise I should do , I hope the Truth found out will excuse my manner of Enquiry after it . And to clench the Nail , I 'll venture to fling in a bolder Assertion than all the rest , That there is no other Foundation to build and support the Credit of the Kingdom upon , than the very thing hereby proposed : But this being a Negative ; I 'll let it stand to be falsifyed by those who will prove the contrary , by doing it . Nor do I say that there is nothing else to be done , but that this ought not to be left undone , for tho' the present Supplies could be otherwise raised , the growing Interest of Money will eat out the Kingdom , unless something be laid to the Root of it , to eat out that . The Interest of Money hath such a Spell in it , that were the whole Coin of the Kingdom but ten thousand Pounds , the Rate of Interest for that Summ would set a price upon all the Lands in England , which are computed at 15 Millions per Annum ; and the less principal Money there is , the higher the Interest rises , therefore there is no way to fall the Interest but to multiply the Principal . In the time of the Late Revolutions , upon reading a Bill in the House of Commons , Entituled , An Ordinance for suppressing the Horrible Sin of Adultery , a Member there moved that the Title might be , An Ordinance for the more secret committing the Horrible Sin of Adultery : And considering how Usury and Extortion have thriven under all the Laws made against them , the Titles of the Acts for that purpose might have been , For the more Artificial taking Extortion and Usury . Now in multiplying the Principal of Money , perhaps other Securities may be so formed , as to supply the use of Monies as well as the Securities on Lands . But the Credit of them must depend upon their Alliance with Lands , especially since the Owners of the Lands ( having Intimation of their Strength ) will be able to suppress any Credit that shall be set up in Prejudice to their Estates . And after all this , had I not a greater Authority to justifie my Assertions than all the Arguments I have used to prove them , I durst not be so bold ; but that I may not seem immodest by taking so much upon me , I own my self ignorant of many other Accomplishments , that I might attain to this , I have waved all Advantages in my Profession , to study A more convenient Settlement for Lands ; and therefore I hope the more Learned and Successful in that Science will not envy me , if I should be the Author of an Improvement in that point , and thereby entail upon my self the Despicable Name of a Projector for doing it : However as to that , every Man is either a Projector , by finding out New Forms , or a Mechanick by copying after them : And if they who give me the Character of the former , will please to accept the Title of the latter , I shall not think my self affronted : Especially since the Sages of the Law themselves , who have chosen that grave Sentence for their Motto , Nolumus Leges Angliae mutare , have been the Projectors of New Inventions in the Law , which by time have grown into Customs . The Titles of the greatest part of the Lands in England do depend upon an Invention of the Lawyers , in the manner of passing Recoveries to bar Estates Tail , notwithstanding the Statute of Westminster 2 nd . For tho' the Writs on which these Recoveries are grounded , were ancient , yet the setting up a Common Vouchee , the Appearance of all Parties without Proces , Execution and Seisin and Returns of the Writs being all done together in an instant , is a Project in the Law which by Custom hath gained the Name of A Common Recovery , and is now become a Common Assurance of Lands . And as the Titles of Lands do thus depend upon an Invention in the Law , so the manner now used for trying these Titles by Possessory Actions , ( termed Ejectments ) is an Invention in the Law , by the introducing of which the antient way of Tryals by real Actions is become so obsolete , That at a Call of Serjeants the Counts and Pleadings in Formedons being transcribed from Precedents , are delivered to these Graduates , only to be read over by them , as Reliques of the Law , amongst other Antiquated Ceremonies used at that Solemnity . And if any thing be expected from me , relating to the differences which have happened from passing the Act last Sessions , I must say no more of it here , than That all the Charges and Aspersions cast upon us from thence , and the impeaching the Justice of the Parliament for establishing another Bank , while THE Bank of England ( whose Name or Essence never extended beyond 1200000 l. limitted them by the Act ) is in being , are so vain and ridiculous , that to bind them up with the Names of God and the King , ( whom I have dared to insert in this Essay ) would render me guilty of prophaneness and irreverence . Lincolns-Inn , Septemb. 1696. J. Asgill . Notes, typically marginal, from the original text Notes for div A25994-e40 Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . Proved . 
A32644	----	By the King, a proclamation that the moneys lately called in, may nevertheless be currant in all payments to, or for the use of, His Majesty until the first day of May next England and Wales. Sovereign (1660-1685 : Charles II) 1661 Approx. 5 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). A32644 Wing C3576 ESTC R35968 15584156 ocm 15584156 103938 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A32644) Transcribed from: (Early English Books Online ; image set 103938) Images scanned from microfilm: (Early English books, 1641-1700 ; 1588:122) By the King, a proclamation that the moneys lately called in, may nevertheless be currant in all payments to, or for the use of, His Majesty until the first day of May next England and Wales. Sovereign (1660-1685 : Charles II) Charles II, King of England, 1630-1685. 1 broadside. Printed by John Bill and Christopher Barker ..., London : 1661. "Given at our court at Whitehall, the seventh day of December, in the thirteenth year of our reign, 1661." Reproduction of the original in the Harvard University Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England. Great Britain -- History -- Charles II, 1660-1685. 2008-07 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-10 Mona Logarbo Sampled and proofread 2008-10 Mona Logarbo Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion C R DIEV ET MON DROIT HONI SOIT QVI MAL Y PENSE royal blazon or coat of arms By the King. A PROCLAMATION that the Moneys lately called in , may nevertheless be currant in all Payments , to , or for the use of His Majesty , until the First day of May next . CHARLES R. WHereas by Our late Proclamation of the Seventh of September last , for calling in all Moneys , Gold and Silver , Coyned or Stamped with the Cross and Harp , and the Circumscription , The Commonwealth of England , and for making the same to be currant onely to the First of this instant December , and no longer ; We did publish and declare Our Royal Will and Pleasure , That from and after the last day of November then next ensuing , no Moneys whatsoever , either of Gold or Silver , having the Stamps aforesaid , should at any time be received , allowed , or taken as currant Money , nor should the same be used in any Receipt or Payment whatsoever , but should from thenceforth cease to be lawful Money of England , to all intents and purposes whatsoever . We taking the Premisses into Our serious consideration , and choosing rather to take the loss and prejudice upon Our Self , which shall happen by reason of the said Moneys so Coyned and stamped as aforesaid , then that any of Our Loving Subjects should be prejudiced or losers thereby ; and to the end the same may remain within Our Kingdom , and not be transported to Foreign parts , have thought fit to publish and declare , and hereby ( by and with the Advice of Our Privy Council ) do publish and declare , That no part of the said Moneys so Coyned and Stampt as aforesaid , shall continue currant , or be paid , or payable to , or betweén all or any of Our Subjects . But nevertheless , that it shall and may be lawful , to , and for any person or persons whatsoever , which at any time or times before the First day of May now next coming , shall pay or deliver any Sum or Sums of Money , to , or for the use of Vs , Our Heirs and Successors , for , or in respect of the free and voluntary Present , or any Rent , Custom , Excise , Tax , or any other Duties whatsoever , to pay , send , or deliver , or cause to be paid , sent , or delivered the same , or so much thereof , as they shall think fit , in the said Moneys so Coyned and Stamped as aforesaid , into any of Our Publick Receipts , where the same shall be received as any other Moneys that are currant within this Our Realm , may or ought to be received or taken ; and that from and after the said First day of May now next coming , the same shall not be currant , nor be any ways paid or payable to Vs , Our Heirs or Successors , or to any other person or persons whatsoever . And Our further Will and Pleasure is , and We do hereby direct and appoint , all and every Our Commissioners , Collectors , or Receivers of the several Duties aforesaid ; and also all and every Our Officers and Ministers of Our Exchequer , and of the Receipt there , for the time being ; and all others whom the same shall concern , Not to refuse , but to receive such of the said Moneys , as shall from time to time be tendered or paid to them , or any of them , within the time , or for any the Duties or Payments aforesaid , in such manner as any other Moneys that are currant within this Our Realm , may or ought to be received . And that upon the Receipt of any considerable sum thereof , they do from time to time acquaint Our High Treasurer , and Chancellor of Our Exchequer therewith ; to the end , that such speedy direction may be given for new Coyning thereof , as shall be thought fit , We being willing for the ease of Our Subjects , to take the charge of the Coynage thereof upon Our Self . And We do hereby further publish and declare , That if any person or persons , during the time aforesaid , shall presume to Wash , Clip , File Counterfeit , or otherwise abuse any the said Moneys so Coyned and Stamped as aforesaid , That then all and every such Offenders shall be proceeded against according to the Laws and Statutes of this Our Realm . Given at Our Court at Whitehal the Seventh day of December , in the Thirteenth year of Our Reign . 1661. GOD SAVE THE KING . LONDON : Printed by John Bill and Christopher Barker , Printers to the KING' 's most Excellent Majesty . 1661. 
A39784	----	Overtures offered to the Parliament in which this proposition is advanced that a small summ imposed on the nation, for reforming our standard, and for repairing the losses of the African and Indian Company, &c. bestowed in the method propos'd, will be of ten times more value to the nation in general, &c. to almost the whole individual persons in the kingdom, than the samen [sic] summ will be, if retained in each particulars hand. Fletcher, Andrew, 1655-1716. 1700 Approx. 19 KB of XML-encoded text transcribed from 7 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-03 (EEBO-TCP Phase 1). A39784 Wing F1296 ESTC R215771 99827544 99827544 31965 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A39784) Transcribed from: (Early English Books Online ; image set 31965) Images scanned from microfilm: (Early English books, 1641-1700 ; 1847:16) Overtures offered to the Parliament in which this proposition is advanced that a small summ imposed on the nation, for reforming our standard, and for repairing the losses of the African and Indian Company, &c. bestowed in the method propos'd, will be of ten times more value to the nation in general, &c. to almost the whole individual persons in the kingdom, than the samen [sic] summ will be, if retained in each particulars hand. Fletcher, Andrew, 1655-1716. [6], 7, [1] p. printed by John Reid, Edinburgh : in the year M D CC. [1700] By Andrew Fletcher. Reproduction of the original in the Goldsmiths' Library, University of London. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Scotland -- Early works to 1800. Inflation (Finance) -- Scotland -- Early works to 1800. 2007-06 TCP Assigned for keying and markup 2007-07 Apex CoVantage Keyed and coded from ProQuest page images 2008-03 Elspeth Healey Sampled and proofread 2008-03 Elspeth Healey Text and markup reviewed and edited 2008-09 pfs Batch review (QC) and XML conversion OVERTURES Offered to the PARLIAMENT In which this Proposition is Advanced . That a small Summ imposed on the Nation , for Reforming Our Standard , and for Repairing the Losses of the AFRICAN and INDIAN Company , &c. bestowed in the Method propos'd , will be of ten times more value to the Nation in General , &c. To almost the whole individual Persons in the Kingdom , than the samen Summ will be , if Retained in each Particulars Hand . EDINBURGH , Printed by John Reid , in the Year M D CC. THE PREFACE . THE Errors in Laws and Mistakes in Governours , are so often Represented in Malicious Designs , That it is some times dangerous to Propall them . Yet when it is done with Discretion and Sobrietie , and in these Methods by which they are most probablie recommended , and in order to be redressed , without Reveange , it is not criminal . In this Method , the Proposer of the following Articles may presume himself sheltred , not only by his good Intentions , but also by the Nature of the things , and by the Judicature to whom he humblie directs his Opinion , with Submission to either Approbation or Rejection : Laws cannot be otherwise corrected then by the Legislative Power ; And there are few Laws so perféct , thô apparentlie expedient , when they were constitut , that yet may not beget prejudicial Consequences ; which may be occasioned by change of Circumstances in Persons , and things : And no Example can better verifie this , than that of the Matter of Monie , which is one of the chief Inconveniencies mentioned in the following Papers . One of the great Ends of Parliaments , being to deliver the People from Inconveniencies ; And the Laws , and true Priviledge of the People , allowing or rather requiring a Discreet Freedom , in discovering of Publict Evils , especiallie in , and to Parliaments , what I now write , needs no Apology : If I be mistaken , I shall be well pleased , that my Propositions may be rejected . But if I shall expose publict Inconveniencies , then I hope my proposed Remedies will be allowed , or better put in their place ; which shall likeways better please me : And because ▪ when such Matters are offered in Parliament , either time is wanting for Mature Consideration , or else it is bestow'd perhaps on lesser Matters , if they be proposed by greater Men ; And some things contained in these Papers , may be weighty enough , and deserve more Deliberation , than the shortness of a Sederunt can allow . And several things , will have a very far different View in serious Reflection , from what they had in a hastie Glimpse : Therefore I have Printed them , and Published them , for the Use of these Members of Parliament , who will bestow a little of their time , to study the true Causes of our Evils , and to invite them to Redress what they shall be convinced of to be such . I think few , if any , will deny that our Nation is at present under many Inconveniencies , such as Profanity , Poverty , and Contempt , amongst other Causes of the first , the Non-Execution of Paenal Laws by Inferiour Magistrates , the not Alimenting of the Beggars , who are necessarly indigent , and the licensing of many Licentious ones who are not so ; And a third Cause , the Vacancy of Numerous Churches , and their long Continuance in that State. As to our Poverty , amongst many Causes I hint at these three , the Baseness of Current Coyn , and to that Excess that it were sufficient to depauperat the Richest Kingdom in Europe , in proportion to its Product and Trade . 2do . Our Luxurie , unsutable to our Religion , and unproportionable to our Fortunes . 3tio . The Consumption of our Estates Abroad and not at Home . And how necessarly must we be contemptible , whilst in the great Concerns of Peace and War , we alwise intrude Our Selves into the Misfortunes of England ; whilst they never allow one Ray of their Prosperity to glance on Us. being alwayes under the Sinisttruous Influence of their State , but never under the Benign , I am far from supposing or intending an Enumeration of all our Evils , and as far from thinking that I touch all the Causes : But although I cannot do much , yet my Dutie calls to do apart ; And I leave the greater Burdens on Greater Men , and better Heads . And it will be some Satisfaction to me , if I contribute in the least to any Amendment ; And the lowest of my Hope is , that what was undervalued by some , when I offered my private Thoughts on prior Occasions , may be more noticed , if not more respected by the Body of the Parliament ; And however , in magnis voluisse sat est . In the following Papers , I advance my Opinion for some Measures to remove Prophanitie , by planting of Churches : And where that is neglected , thereby to raise a Fond for entertaining of the Poor ; For which End also , I offer some other Mediums , And for our Povertie , I expose the Mischiefs of our Coin with the Remedie , and offers both my Opinion and my Wish , for Reforming our Luxury ; And in Order thereto , to direct our Trade to its profitable Subjects . If they be not digested in fit Method and Order , this may excuse me , that having litlte share in publick Trust , I am not Debitor to it , in so much time , as those are whose Province does oblige them to manage it : And I hope they will Supply all my Defects : But when at any time , what I have write ▪ occur to my Thoughts , I bestow that time to write it down ; And for my Goodwill , all that 〈◊〉 require , is , that the Reader may take it in good part . A PROPOSITION For Remeding the Debasement of COYNE IN SCOTLAND . IT is evident that the Raising of the Denomination of the Standard of our Coyne above the Standard of England , by the Act of Parliament 1686. and what hath followed on the said Act , is not only expresly contrair to the Mutual Contract betwixt the two Kingdoms , Anno 16 — but is in it self one of the great Causes of the Nations Poverty ; For , by it all our Goods are sold at an unperceaved Undervalue : in so far , that we own and receave the English Crown ( and so every Species of their Money proportionably ) at 5 sh . 5 d. sterl . which is 8 ⅓ more than its Value in England , and when we give back that Crown to England , they will receave it only at 5 sh . So we give our Goods for 8 ⅓ less than we are aware of ; and when we Buy , we loose 8 ⅓ of what Money we pay in English Coyne . I Know it's thought that the Raising of the English Crown , &c. will induce People to bring in many more of these Crowns , &c. than other wayes they would do ; which is a Mistake : For , any who was to bring in 13 of these Crowns , to Buy Scots Goods , if the Crown did pass at 5 sh . sterline , needs only now bring 12 of them ; because , the 5 d. rais'd on each one , makes up the 13 th . And so it is evident it occasions a fewer Number of Crowns to be imported . And if it be said , that yet it invites People to bring more 12 Crowns , because 12 gain 1 to them , and so it will occasion more of our Goods to be bought . This Thought creeps in on men who do not examine things ; for , 1 o. The Evidence still proves , that in Place of 13 , there are but 12 imported . 2 o. It proves , in Place of 5 sh . & 5 d. we get but real 5 sh , 3 o. The Merchand who needs our Goods will Buy what he needs , or so much of it as he knows of Mercat for , albeit his Crown were receaved at no more than 5 sh . And albeit his Crown were taken at 5 sh . 6 d. He will buy no more than will answer his End , and suit his Mercat , 4 o. If Money be raised only to invite Merchands to buy greater Quantities of our Goods , we have an easier Medium for that End : viz. to Sell a Crowns worth at 4 sh . & 7 d. and so the Merchand has our Goods cheaper by 5 d. and by the rais'd Crown he hath no more . And as this is easier , so it is safer than the raising of Denominations , as will appear by the following other Mischiefs of our raised Standard ; viz ▪ The raising of Money , in one Species , hath naturalie obliged us to raise all other Coins proportionablie , not only our own , but all Forraign Coins ; So that now , from whence soever Money is brought to buy our Goods , they bring in 8 ⅓ less Money than they would bring in , were our Standard as formerlie . We also Sell all our Goods to every Nation or Person at 8 ⅓ less than they payed to us formerly , and whatever We buy from any forreign Place or People , we must add 8 ⅓ more of Money to ●uy it than we did formerly ; For as was demonstrat in the English Crown , so it is as plain in the ordinary Dollar , for who formerly payed at 58 d. Sterl . in Cross-Dollars or Patacoons , behoved to give Us 2 d. to make up the 58 d : But now he payes Us 58. and keeps his 2 d. to himself . And in like manner , he who payed us 60 d. in Bank or some Imperial-Dollars , behoved to give Us a Bank-Dollar , and 2 d. more , now he payes us 60 d. by the Dollar alone , and keeps the 2 d. So in Ducatons , he who payed us 74 d. behoved to add 4 d. to make up 74 d. Now the bare Ducatons pays 74 d. and he Retains 4 d. to himself . And as we loss so much , by what the Importer of Money brings in , less than he would have done , had our Standard stood as it was formerly ; so when ever we pay 58 d. to a forreigner for his Goods , we must add 2 d. to the Patacoon , to make up 58 d. When we pay 60 d. we must add 2 d. to the Bank-Dollar . And when we pay 74 d. to a forreigner , we must add 4 d. to the Ducatoon . But it may be said , we will raise the Price of our Native Goods in proportion to what we want by the Coyn. The weakness of this Argument will appear , if you Reflect , that in the first place , before we raise our Goods , we are cheated , and untill their price rise , and rise from this cause ; for if the price rise by other causes as by the scarsity of our Goods in other places , or other emergent causes ; then the forreigner behoved to import the Money at the former Standart , and as much more also , as our Goods were more valued abroad , than formerly . but this Solution refutes what was argued before for raising the Standard , viz. that of raising the Denomination , people were invited to import Money , for if he must still pay as much Money as he did formerlie , what Invitation does He get , from raising the Denomination ? To what 's thus argued against raising the of the Standart , add these yet more Weighty Arguments ; 10. Money gives no more abroad by our raising its Denomination , So that Money imployed in Trade by Cambion , is in other places , especiallie with all prudent Nations ; The same it was , without any Alteration , by our raising it . So that , as less is brought in to us for our Goods , so we must send out the same in Value and more of our Denomination than we sent out formerlie . 20. That Money is of no more use than dead uncoyned Metal , unless it be imployed in Merchandice , Trade or Cambion . 30. When I sell my Estate at 20 Years purchase payed in new Denomination , in Order to Imploy it , as a Merchant or Bankier , when I Transfer it to these Uses ; my 100 is trulie , & will prove to be , But 91 ⅔ and so much I have lost of my Heritage . If I get 100 payed me of my Yearlie Rent , in the new Denomination ; when I imploy this in Trade or Cambion , I shall find I have but 91 ⅔ 40. The King , whatever he gets of his own Revenue , or new Taxes , Tho' he get 100 from the Subject , and what is trulie 100 out of the Subjects Estate , yet to any use for buying of foreign Goods or manageing of foreign Affairs , or paying his Forces by Sea or Land abroad , he gets but 91 ⅔ 50. And which demonstrats all the rest , to all , who understand Trade , when I would have Money to do my business in Trade or otherwayes in England , Holland , or any where ( But in Ireland , our Neigbours in Error , as well as in situation ) I desire Money , Ex. Gr. To be answered me at London , viz. 100 lib. The Bankier he tels me , this 100 lib. which you give me here , is short of the Value of my Money at London 8 ⅓ of the 100 , so I must pay in to him 108 ⅓ for 100 lib. at London , and that beside the Rate of Exchange , or other Accounts , to be hereafter mentioned . And it is the same thing , whether Money be raised in Denomination , without altering , or debasing the Standard , or to keep the former Denomination , and to give more Allay , and so to debase the Standart , or to give the same Denomination to a lesser weight of the Coyne . Add yet to these Considerations , the sad and sensible Experiment of the state of Money in Scotland , which hath allways been diminishing , and the Nation descending insensibly toward Poverty , since that Aera of our Mistake , which neither written Representations to The Lords of the Articles in that Parliament , could prevent ; nor printed Informations since , could redress , doth experimentaly evince to our shame and Hurt . And which ( in the Proposer's humble Opinion ) is no other way to be redrest , than by restoring our Money to the same Standard , in Weight and Fineness , with that of England . And in place of many Arguments to perswade this Remedy , the sole Example of England's useing the very same Cure against the like Evil , lately to their Honour , Profit , and declaration of their Generosity and Prudence , whereby their state hath escaped from Consumption which ceded to no other cure . All the other Remedies of Banks , Loans and such like Raggends of wit , were [ as the wonderfull Lord Burleigh in Q. Elizabeths time did aptly name them ] Monte-Bank Recepts for State Evils : so that the Reputation of their Coin , the Credit of their Merchants , the true Par of their Exchange , the solidity of their estates both in Lands and Money ▪ are establisht ; and if after their Example , the Loss be Rationally computed and imposed on the Nation in general , it will prove to be our safty from greater Evils , as it hath been theirs : it were easy not only to Prove but to compute how much less everie one will pay of Cess imposed for that end now when there is so little real Cash in the Nation , than they will Loose if the Standart continue in it's Lowness or rather in it's Over-value ( which on the matter , signifies the same thing ) and our Mischiefs thereby increase . The other Consideration and Proposall for Remeiding of the swelling of our Exchange , and Consequently the Ruine of all our Trade , by Import of Superfluities of many kinds ; will appear more particularly in some other Proposalls hereafter : Here I shall only take notice , that by our buying more Superfluous goods in London , France , Holland and other places , than we send of Goods thither ; it necessarly falls out , that our Merchants need more money there ; than the Merchants of those places do need Here ; and therefore wee must pay more to them for money in any of these places , than they will give to us for money here ; and that in proportion ef●…ering to the different values , 'twixt what We Import from these Places and Export to them ; which by the now current Exchange at 15 per Cent : is vast ; and enough shortly to drain our money altogether from us ; for if a Merchant change his Money , Six or Seven times , it is evident , that ●…e most Loss six or seven times the Exchange ; that is ; the whole stock ; and all that we can hope for supply , to this Wast , is the little that our Highland Cows , Linnen , and some Salt , and Fish Exported do yeeld : for the other branch of our Export viz. Woolen Manufacture , is now by the illegal , tho' too much tolerated Export of the materiall of that Trade , alltogether lost , to the Starving of 50000 Christian Work-People , and to little gain , even of those who seem to reap it , For if a Ship sink , a close Cabine will sink with it ; if there be no Money in the Nation , these who gain by the Wool of their Estates will soon loose more by inlack of their other Estate and Species of their Rents . To evince that it is the Nations Interest to Imitate England , in their Prudent measure of Remeding this Mortall Wound , if not hastily Cured : viz. To estimate what Summ may Pay the Debasement of all the Cash now in Scotland , which by probable conjecture does not amount to 300000 lib. ster . the loss whereof amounts to about 24000 lib. ster . viz. to six Moneths Cess , and add a half for any Fraction , and to defray the Expence of the Committee for money , is in all 27000. lib. ster . viz. 4 Months and a halfs Cess ; Now , every Subject looses ( as is above proved ) the 8 th . Part of his Rent . and valueing the Totall Rent very low , viz. at 600000 lib. ster . The 8 th part of that , which is 75000 lib. ster . doth exceed the Cess by 8000 lib. ster . even in one Year : but in two Years time the Debasement of the money , will be of more loss to every Particular man , than thirteen Months Cess : And besides every man who sells his Lands or houses will certainly loss the eight part of the stock , or Price of the Lands Sold : and if one per 100. of all Annual-Rent be payed in , for a part of the loss ( which Money'd men have best Reason to pay ) then 3 Months Cess and a half may make the remedy in all , FINIS . 
A43319	----	A proposal to make good the coyn of this kingdom without diminishing the species thereof. T. H. 1695 Approx. 5 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-03 (EEBO-TCP Phase 1). A43319 Wing H144 ESTC R216502 99828229 99828229 32656 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A43319) Transcribed from: (Early English Books Online ; image set 32656) Images scanned from microfilm: (Early English books, 1641-1700 ; 1865:19) A proposal to make good the coyn of this kingdom without diminishing the species thereof. T. H. 1 sheet ([1] p.) s.n., [London? : 1695] Imprint suggested by Wing. Reproduction of the original in the Goldsmiths' Library, University of London. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England -- Early works to 1800. Money -- England -- Early works to 1800. Lotteries -- England -- Early works to 1800. 2007-11 TCP Assigned for keying and markup 2008-05 SPi Global Keyed and coded from ProQuest page images 2008-06 Mona Logarbo Sampled and proofread 2008-06 Mona Logarbo Text and markup reviewed and edited 2008-09 pfs Batch review (QC) and XML conversion A PROPOSAL To Make Good the Coyn of this Kingdom , Without Diminishing the Species thereof . WHEREAS the great Difficulty that appears in bringing this Matter to bare , proceeds from the Consideration , That the Calling in all the Clipt Money , ( being so general ) will occasion a great stop in Trade , the Market thereby not able to be Supply'd , besides the many further Inconveniences that may Naturally arise : YET the Necessity for our Moneys to be Regulated is such , That it were much more Eligible to be subject to the hazard of such mischiefs , than not put a stop to that growing evil : Both which to prevent , it 's Humbly Proposed as an expedient to render it easy and practicable , as followeth : THAT a FUND ( being made for a Lottery of a Million , or more , if thought fit , to be Advanced by such Persons only as shall purchase their Interest by bringing in Plate ; forthwith to be Coined before the Clipt Money be called in ) would certainly Answer in lieu of Ballion , to give an immediate Supply to the Market , keep our Money circulating , and remove all Objections . THE Quantity of the Superfluous Plate in this Kingdom is so considerable . which , together with the Useless Plate in Publick Houses , being Prohibited , it 's not to be doubted , but One Million , at least , would be soon Advanced . ESPECIALLY when we consider the Price that Plate now bares , and how desirous the People are of coming into another Lottery , as plainly appears by the Prizes and Blanks in the Million Adventure , when once past the hopes of another Lottery , this Sessions Advanc'd from Six Years Purchase to Seven and an half . THE Way and Method for all such Persons as intend to be Proprietors in this Adventure is Propos'd , that they carry their Plate to the Mint , there to receive Tickets according to the Value , Accounting so many Ounces as shall be proportioned to a Ticket , and for every odd Sum that shall happen over and above , to receive a Note for the same , Payable at a certain time , after Coming . BUT if if it shall be thought fit to have such Plate brought into the Bank , on the same Conditions as above , thence to be Transmitted to the Mint , to return in Coin ; the Mint will be greatly eas'd , considering the Work upon their hands , and the Money made much more Defusive . FOR the Bank thereby being enabled to answer the Defficiency of the Mint , all Persons of Worth and Credit , that shall bring their Money to be Coin'd , will readily take Notes upon the Bank , for what shall fall short , which being for their ease ; and having a free Credit , the Million in Specie will remain in the Bank to supply the Poorer sort of People , that can afford no Credit , having no more than bare Subsistance . SO consequently , The Bank will supply the Mint , and the Mint be able to supply the Bank before Occasion : Therefore no possibility of Stoppage in Commerce , or want of Current Money . BY these means , not only the present Occasion is answered , by Facilitating the Coynage of all the Clipt Money , but a Million in Specie is created more ; without which , it 's directly linking a Million from what was in the Nation before , which is conceiv'd can hardly be spared at this time . THE Proposer craves leave further to Observe , that considering the Honourable the House of Commons has so far proceeded in Relation to the Regulating this intollerable Abuse , if not effectually Rem●dy'd this Sessions , it has given such an Alarum , that , before the next Sessions , it will be , in a mann●●i●●●ssible to preserve any one piece of Money , that is now of Good Value , from receiving the same Injury : And how far this will add to the Misfortune of the Nation , is Humbly submitted to their Great Wisdom . By T. H. 
A35196	----	An essay on the coyn and credit of England as they stand with respect to its trade by John Cary. Cary, John, d. 1720? 1696 Approx. 55 KB of XML-encoded text transcribed from 25 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-01 (EEBO-TCP Phase 1). A35196 Wing C729 ESTC R24728 08448344 ocm 08448344 41345 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A35196) Transcribed from: (Early English Books Online ; image set 41345) Images scanned from microfilm: (Early English books, 1641-1700 ; 1249:7) An essay on the coyn and credit of England as they stand with respect to its trade by John Cary. Cary, John, d. 1720? [4], 40 p. Printed by Will. Bonny and sold by the Booksellers of London and Bristol, Bristol : 1696. Reproduction of original in the British Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England. Credit -- England. Monetary policy -- England. 2006-06 TCP Assigned for keying and markup 2006-06 Aptara Keyed and coded from ProQuest page images 2006-07 Derek Lee Sampled and proofread 2006-07 Derek Lee Text and markup reviewed and edited 2006-09 pfs Batch review (QC) and XML conversion AN ESSAY , ON THE Coyn and Credit OF ENGLAND : As they stand with Respect to its TRADE . By John Cary , Merchant In Bristol . BRISTOL : Printed by Will. Bonny , and Sold by the Booksellers of London and Bristol . October the 22d . 1696. To the Right Honourable , the LORDS Spiritual and Temporal , and to the Honourable the Commons of ENGLAND , in Parliament Assembled . May it please Your Honours , I Humbly present You with this little Tract , the Design whereof is to set forth how Useful and Advantageous a Well Setled redit would be to the Nation , which , nothing but a Sence of the Calamity we labour under for want of it hath made me Undertake ; 'T is a Subject I Confess deserves a better Pen , but seeing it hath lain so long Neglected , I have adventured to offer my Mite towards it ; If Your Honours agree it to be Necessary , I doubt not but it may be rendred Practicable ; The setling the Coyn of this Kingdom ( so happily effected in your last Sessions ) hath given fresh Occasions to our Money Mongers to imploy their Corrupt Wits in finding out new Ways to elude your good Intentions , who since they cannot get Thirty per Cent by ping our Old Money , have endeavoured to get Twenty per Cent by Hoarding up our New , Things equally prejudicial in themselves ; And so far have they already advanced in these their wicked Projects , as to make near so much Difference between our Money and our Trade ; Which Evil , if not speedily prevented , will daily Increase , and like a Leprosie over-spread this Nation , so that the very Sence of its being a Crime will wear off , and Time will make it familiar to those , who now seem to startle at it ; Dulcis Odor Lucri ex re Qualiabet . Nor can a Stop be put thereto so well , as by Establishing a Credit , large enough to answer all the Occasions of the Nation , both Publick and Private , without which , I humbly Conceive , other Means will prove Ineffectual ; I pray God , who is the Fountain of Wisdom , to direct you Councels to his Glory , and the Welfare of this Kingdom . Your Honours Most Obedient Servant , John Cary. AN ESSAY ON Coyn and Credit : AS the Wealth and Greatness of the Kingdom of England is supported by its Trade , so its Trade is carry'd on by its Credit ; this being as necessary to a Trading Nation , as Spirits are to the Circulation of the Blood in the Body natural , when those Springs ( as I may so call them ) Decay , and grow Weak , the Body languishes , the Blood Stagnates , and Symptoms of Death soon appear : Nor can a good Credit be more useful to any Nation then it is to this , where our Trade hath at all times very much exceeded our Cash ; I mean the Species of Mony hath not in any Measure answer'd the transferring of Properties ; and though herein no Man can be at a Certainty as to the quantum , yet such probable Conjectures Satisfaction that the Disproportion is very great . If we would make a Judgment of the Trade of England , it cannot better be done , then by considering what the annual Profits of that Trade may be supposed to amount unto , and this cannot better be computed , then by making a probable Conjecture of the Charge of its Expences , and this by such Steps , as may tend to make as naked a discovery thereof , as the nature of the thing will bear . Suppose then the Number of People in England to be Eight Millions , ( which is the lowest Computation I have ever met with ) and that each Person spends Eight Pounds Per Annum for his Support , in Provisions , Clothes , and other Charges of living , what any one pays short of this himself , is paid by another ; he that is sed at another Man's Table , or wears another Man's Cloaths , must remember that those necessaries are paid for , if not by himself , yet by his Benefactor ; add to this the Charge of supporting the Government , especially in this time of War , and the amount will not be less then Seventy Millions per Annum , though every Man lived but from Hand to Mouth ; add to this Thirty Millions per Annum for the Profits of Trade , which is but Twenty Pounds to each Family , supposing Six Persons to a Family ; this amounts to One Hundred Millions . Here it must be noted , that I comprehend all transferring of Properties under this general Notion of Trade ; the Landlord , the Tenant , the Manufacturer , the Shop-keeper , the Merchant , the Lawyer , all are Traders , so far as they live by getting from each other , and their Profits arise from the Waxing or Waning of our Trade . We are next to consider how the Profits of our Trade stand in Competition with Trade it self ; and I believe it will be allowed , that one with another , they do not amount to above Ten per Cent. By this Scheme , the Trade of England must be at least a Thousand Millions per Annum ; The Money of England hath generally been supposed to be about Seven , some have thought Ten , which , at the highest Account , stands in Competition no more then Ten doth to a Thousand ; this hath made Credit always so necessary our Trade , that without it the other must have stood still . But the usefulness thereof hath never so much appeared , as now it doth . Here it will not be amiss to consider the Original design of Mony , how it came at first to be introduced into Trade , and the Reason there was for mending our Silver Money , and falling of Guineys . Our Fore-fathers , whilst they kept themselves only to the use of things necessary for the Support of Life , were content with what they could either provide for themselves , or purchase from their Neighbours with such things wherewith they abounded , and the others wanted ; but as Pride and Luxury grew into the World , so Mens desires became more boundless , and their Fancies prompted them to seek after things from a greater distance , either to please their Palates , or to set forth their Grandure ; This brought in the Trade of Buying and Selling , whence arose a sort of People maintain'd by Traffick , who soon put an end to the Trade of Barter . And indeed it must needs be so , since 't was impossible for them to fit every Man's occasions , in such proportions as he required , and at the same time to receive their Payments in the Commodities wherewith he did abound , because these would not answer their ends in carrying on their Traffick , therefore something must be made the Standard of Trade , which might be of equal value in all Places , and a measure to the worth of other Commodities , the Excellency whereof was not to arise so much from any intrinsick value in its self , as from the usefulness of it to answer that end . Silver was at last agreed on by a common consent , whose worth arose from its Fineness and Weight ; not that this was esteemed the richest of all Mettles , Gold standing in a very great Disproportion with it , even as to its Weight , but that being more scarse , could not supply all the occasions of Trade , nor indeed could it be divided into so small parts as Silver might ; On the other Side , Lead , Iron , Tin , Copper , &c. being more common , would have been too bulky to be made the Standards of Trade ; nor could Diamonds , or other precious Stones answer the end , for besides the abuse which might be put on the World by their Counterfeits , their value arises only from Fancy , and from such Rules that a common Eye cannot easily distinguish ; Silver being thus settled , became by its Weight and Fineness a Standard to the value both of these and all other Commodities , which were purchased by a quantity set out , and measur'd by the Scale ; and this continued in the former Ages of the World , till the vast increase of Commerce and Traffick made the several Princes , who found their Advantages by Trade , endeavour to render it more easie to their Subjects ; This was done by forming Silver into lesser parts , and by their Stamp giving a Warrantie both to the Fineness and weight of each Piece , which they guarded with Laws , equally Sanguinary with those which secured their Crowns . The first was called the Standard , which is a mixture of some Allay with the finest Silver ; and though it might be wished , that all Trading Nations had agreed upon the same , yet since they have not , the Coyn of each Nation stands in Competition , according to the true Weight and Fineness of the Silver in their Money , without any respect to the Denomination ; which , were it not for other Accidents that attend it , would be the Par and Measure of all Exchanges . The Standard , or Sterling Silver of this Kingdom , is Eleven Ounces Two Penny Weight Troy of the Finest Silver , mixt with Eighteen Penny weight of Fine Copper , and according to this Proportion should all our Coyn and Standard Plate be mixt , which Composition makes it more fit , both for the Stamp , and also for Utensils , being else too soft to be wrought up of its self , and if more allayed , would become too Brittle , and wear like Brass , as our Workmen generally agree . But whatever might be the cause that perswaded our Kings to settle this Allay , it hath continued to be the Standard of England ever since the Reign of King Richard the First , being first contrived , and brought hither by the Easterlings , a Trading People living in the Eastern Parts of Germany , who dealt with us for our Product . Many good Laws have been since made to keep it from being vitiated , which were they as well put in Execution , the deceits used by the Workers of that Commodity , to the increase of their Private Estates , by abusing the ignorant Buyers , might soon be put to an end . Next , to the finess , the weight of our Money was to be secured , and that to be done in such Parts , that one Piece should answer another . Thus the English Crown , as it comes out of the Mint , weighs Nineteen Penny weight and Eight Grains ; the Half Crown , is just one half of that Weight ; the Shilling one Fifth ; and the Six Pence one Tenth ; so that these pieces receive their values from their Weights , not from their Names , though some unthinking People have supposed otherwise ; which Error hath been the ground of many Disputes , and given Opportunitys to cunning Knaves of abusing our Coyn , both by adulterating the Standard , and lessening its Weight , and others finding Advantage by this Confusion , have devised Arguments to maintain their false Propositions ; such as these ; that it hath made Trade to circulate ; That it past currantly from Man to Man ; That it hinder'd our Money from being carry'd abroad ; and such like ; never considering that the Kingdom of England may Trade till it becomes Bankrupt ; that it is not Buying and Selling amongst our Selves which makes this Nation Rich , or able to support its Self , but the Trade we drive with Forreign Nations ; particular Men may get , whilst the Nation in general looses by the Trade it drives . It is a certain and undeniable Maxim , that what is the true Interest of England , is the Interest of every particular English Man ; for though private Men may seem to get by the ruine of the Publick , this lasts but for an Age , and their Posteritys will have cause to lament the ill Consequences a Trade so driven will produce . No doubt the badness of our Money was the cause of a great Circulation in our Home Trade , but this arose from other Reasons then are commonly considered , and the Consequence being the advance of Guinneys , caused our Product and Manufactures to be sold to Foreigners at undervalues , who would have been enabled thereby in a short time to have carryed on the Trade of Europe on better Terms then we could . Which things being duly considered by our Legislative Power , 't was thought fit the last Sessions to call in all the debased . Money then Currant , and to reduce our Coyn by Degrees to the old Standard and Weight , this gave fresh occasions for Clamours , and the People were again furnish'd by the Money Jobbers , with new Arguments against the Government . Trade 't is true , was hereby put to a stop , and this could not be helpt , nothing else could be expected when ever our Money should have come to be mended , the most clamorous thought it necessary to be done , only desired that it might be deferred some time longer , or at least ( to express it in their own Terms ) that the Money might be raised , and that the Crown might pass for Six Shillings ; this they did suppose would cause more Silver to be brought into England , and less to be carry'd out , because it would be worth more in England , then in any other part of Christendom ; they argued in all Companies , that the Trade of England was apparently slackened since the Small Money was made unpassable , and Guineys reduc'd from Thirty Shillings to Two and Twenty ; whereas they did not consider , that this was Non causa Pro causa , 't was the Fear and constant Expectation of the calling in and mending our Silver Money , and as a Consequence thereof the falling of Guineys , which made every Man willing to shift off the loss , and to discharge himself of his Money , as fast as he receiv'd it , by turning it into some Commodities which he might part with at less loss to himself , then he supposed the Money would be if he kept it by him , so that had the Parliament gratified these Mens desires , it would not have had the Consequence they expected , because the Standard being once fixt , that uncertainty had ceased , I speak thus , because I am obliged to Answer such Arguments in the Language of the Proposer . For my own Part , I am of Opinion , and I believe most unbyassed Men will agree with me , that Silver cannot be raised or fallen in the Sense these Men would have it ; the true value of Silver consisting in its Weight and Fineness , cannot properly be said to rise or fall , or to be worth more in one place then in another ; if Silver rises , it must be either with respect to its Self , or to something else ; the former is absurd , an Ounce of fine Silver cannot be worth more then an Ounce of the same Fineness in any part of the World , nor will the Stamp make an Alteration , especially in England , where Silver in Bullion and in Coyn must be alike , the Coynage here costing nothing ; and as to the latter , its Rise and Fall with respect to other things , this can never be limited by Law , because the Buyer must pay for the Commodities he wants , suitable to his Necessity , and their Scarcity ; thus one Day a thing is worth an Ounce of Silver , which at another time is not worth half so much . Besides , I would ask these People , whether they think that a Crown or Five Shilling piece as now Coyned , can be worth any where , either at Home or Abroad , Six single Shillings of the same Coyn , or to speak plainer , Six pieces of Silver , each one Fifth part of an Ounce of the same Standard and Fineness ? if they think it can be so at home , they may soon ruine themselves by the Experiment ; and if it cannot here , why should it be so Abroad ? Does any Man suppose that the Dutch or other Forreign Nations will make such a Change ? if they will , 't is our Interest to send our Coyn to them , and this will be the way to augment , and not to lessen the quantity of our Silver . But all this is a jest , for no Nation esteems Silver but for its Weight and Fineness ; and though the Money of some Countreys may not agree with ours of the same Denomination in either , yet the Exchange sets that right . Thus the French Crown ( called there Six Shillings , or three Livres ) hath not usually been worth in Exchange above Fifty Six of our Pence ; now should any Man be so imprudent to bring it thence , and expect to pass it here for Six Shillings , because 't is called so there , he would soon see , that neither our Goldsmiths nor Traders would take notice of the Denomination ; on the other side , should any one carry the English Crown to France , because 't is there worth above Three of their Livres , vulgarly Six Shillings , he would find no more Advantage , either in Buying of Goods , or remitting it home again , then he might have made by Exchange When our Coyn was Corrupt and Base , all Exchange rose upon us , but now it is return'd to its ancient Standard , Exchange returns to its old Course ; not that the Standard of our Money is always the exact Rule of our Exchange , the Ballance of our Trade often causes it to alter , either to our Advantage , or to our Loss , besides the Charge of Management ; But this is little in Comparison with the other ; a familiar instance we have in the Case of Ireland , where , whilst our Coyn was Base , Seventy Pounds was worth one Hundred Pounds here , which was in some measure proportionable with the value of Pieces of Eight , ( which they took in Ireland by weight ) to our Clipt Money , and also to our Guinneys at Thirty Shillings per piece ; and how far this carried the Trade of England into that Kingdom , the Traders to the West-Indies have been too sensible ; but since the Error of our Coyn hath been Corrected , that very Exchange is so much varied , that One Hundred Pounds here is worth One Hundred and Fifteen Pounds there . And since I have mentioned Guinneys , I cannot let them pass without some Observations ; how eager was the contest for keeping them up to that exorbitant value ? and how unwillingly did the Money Changers , and those whom they had deceived , yield to the Alteration ? whereas it was well known that the reason why Guineys were so high was the badness of our Coyn ; Gold doth not receive a value from the Stamp , but whether in the Mass , or in the Coyn , its Weight and Fineness are to be regarded ; the Standard of both in England is the same , being Twenty Two Caracts of finest Gold , One Caract finest Silver , and one Caract finest Copper ; the Guinuea is Five Penny Weight and Eight Grains , which at the price of Four Pounds per Ounce ( when Money was at its full Standard and Weight ) came to One and Twenty Shillings and Four Pence , but when our Coyn was so Corrupted , that Thirty Shillings contained no more Silver then Twenty One Shillings and Four Pence formerly did , 't was necessary Guineys should rise , to put them on an equal Basis with Silver ; on the other side , when the Currant Coyn of the Kingdom came to be rectifyed , and One and Twenty Shillings and Four Pence contained the same quantity of Silver it formerly did , Guinneys must as necessarily fall , because their value did not arise from their Denomination , but from a proportionable standing of their Weight in Competition with the Weight of Silver ; and by the way , it is to be observed , That Guinneys at Twenty two Shillings ( as now allowed to pass by Act of Parliament ) are worth Eight Pence per piece , or Three per Cent , more then Standard Gold in the Mass will yield at Four Pounds per Ounce . Here I would ask this Question , suppose a Guiney were adulterated , and mixt with one Sixth part Copper , or being of perfect Standard , were diminished one sixth part in its Weight , whether such a Guinney would ever have yielded so much Silver as another of its full weight and Fineness ? if not , why then should a good Guinney be sold for less then its value in Silver , for the sake of the Stamp on our debased Money ? or now our Silver Money is rectifyed , why should it not stand in the same Competition with Gold , as formerly it did ? if it be answered , that Gold is dearer in Forreign Parts then it is here ; I desire to know whether Gold stands in a greater Competition there with Silver as to its weight and Fineness ? I believe upon a strict Enquiry 't will be sound quite contrary . I know it is objected , that Guineys pass for Twenty Six Shillings in Ireland , and that this advance on them there ( being about Eighteen per Cent ) will cause our Guineys to be carryed thither ; let those Gentlemen consider , that Exchange between London and Ireland is at Fifteen per Cent in our Favour , besides Insurance by Sea , and risque of Carriage by Land , which cannot be reckoned less then Six per Cent more , and they will then find on making up the Accompt , that they were better leave their Guineys in London , and take Bills for their Money payable in Ireland . One thing more I would observe to these Gentelmen in their own Dialect , that as our Coyn grew bad , so Standard Silver rose in its Price , those who had it demanding Six Shillings and Six Pence to Seven Shillings per Ounce of the then currant Coyn of the Kingdom , the Reason of which is Plain from what hath been said before . But to return to the Arguments brought against settling the Standard of our Money as now 't is happily done ; if Silver say they had been advanced to Six Shillings per Ounce , this would have made it more plenty amongst us , because that would have caused more to have been brought in , and less to have been carryed out . Here I must beg leave to dissent from their Opinion , and on the contrary to offer it as mine , that if our Money had been advanced , less Silver had been brought into England , and more according to that Proportion carryed out . As to the first , we must consider that Silver is not a Commodity of the growth of this Land , nor of the Plantations belonging to it , but of a Neighbouring Nation , from whom we purchase it for our Product and Manufacturers , and according to the price we make of them Abroad , so much more Silver do we bring home for them ; now seeing Silver could not be advanced to Six Shillings per Ounce otherwise then by standing so in Competition with all Commodities both in Buying and Selling , the Consequence of such an Advance had been this , that our Manufactures would have been sold for so much less Silver in Forreign Markets , as the Price of Silver was advanced at Home ; thus the piece of Bays , which formerly yielded Twenty Ounces of Silver , being Five Pounds whilst Silver stood at Five Shillings per Ounce , would then have been Sold for Sixteen Ounces and two Thirds , which , at Six Shillings per Ounce , is the same Sum ▪ and the Exporter would have gained as much by his Trade , because that quantity of Silver would have stood in the same Competition with any Commodities he was to purchase here for a New Adventure , as Twenty Ounces formerly did ; but on the other side , not one Ounce less would have been carryed Abroad then now there is , which must have been so much the greater Grievance to the Nation , as our Imports thereof had been lessened ; here we are to Consider , what it is that causes the exporting , of our Silver , and upon a due Consideration we shall find , that as nothing but the Ballance of our Trade brings it in , so nothing but the Ballance of our Trade with particular places carryes it out , neither of them proceeding from the choice of the Merchant , who desires rather to Trade in any other Merchandize , Silver neither answering Freights nor Insurances ; and therefore it is that our Merchants bring home from Spain , all the Wines , Fruit , Wooll , Iron , Cochineal , they can get , and whatever else is fit to Load their Ships , before they meddle with Money ; But the Ballance of our Trade with Spain being so much in our Favour , that all the Product thereof cannot make it good , we are oblig'd to bring home the rest in Bullion ; on the other Side , there are some places that necessarily require Silver to be exported , but let no Man think that the Denomination of Money will give it the greater value in those Countreys , the Silver we send thither being valuable only by its Weight and Fineness ; As for our Trade with Holland , That often varies in its Ballance , some Years it may be for us , and other Years against us , as Accidents happen , though I am of Opinion it hath generally been in our Favour ; This is certain , that if we run in Debt more then we can pay by our Product and Manufactures , the rest must be paid in Silver , and the Receiver will take it at his own Price , whatever value we may put on it here ; 't is true , Exchange is a Medium where the Ballance is variable , and that likewise must rise upon us according to the Advance we make on our Money ; but where the Ballance is set against us , there Exchange cannot keep our Silver at home , because That also must be provided for by Shipping it out . And as the Ballance of Trade between us and Spain is in our Favour , and thereby furnishes us with Silver , so I am of Opinion , that the Ballance of the General Trade we drive in Europe is likewise in our Favour , otherwise 't would be impossible to keep that Silver at home which we bring from Spain , since we receive from abroad so great a supply of the Commodities we use , which would necessarily draw it away , were they not the purchase of our Product and Manufactures ; therefore it appears to me , that seeing our Silver increases , the Ballance of our General Trade increases likewise in our favour ; whoever will but consider the great Consumption of Plate in England , by its being wrought up into Utenfils for private Families , and the great quantities wherewith the Houses of our Nobility and Gentry do abound , even in those common Masly things , which our Fore-fathers made of Iron , Tin , Brass , and Wood , may rather wonder , how our Trade supplies so much Silver , then that it brings home no more ; hence comes our want of it for the Mint ; and till the People of England grow so wise , as to set the same delight on seeing an Hundred Ounces of Silver in their Houses in the Coyn of the Nation , as they now do in Plate wrought up , we shall be ever complaining for want of Money ; though were this done , and all the Plate of England Coyned up , I am still of Opinion , that there would not be sufficient to carry on our Trade without a Credit . 'T is our Manufastures and Product which furnish this Kingdom with Silver , and the more they yield Abroad , the greater is our Supply ; whence 't is plain , that the Trade we now drive by means of Jamaica to the Spanish West-Indies , is more profitable to us in the Sales of our Manufactures ; then when we sent them formerly to Cadiz ; in the One they yielded Twenty per Cent advance , in the other they sell for Cent per Cent , all paid in the same Specie . But let us duely consider what had been the Consequence of raising our Money at Home to Six Shilling the Crown , as these Men desired it ; for either our Goods would have rose suitably with it , or they would not ; if they had , the raising of our Money would have done us no Service , because it would have purchased no greater quantities of Commodities then before , only it had been accompanyed with this ill Consequence , that the Landlords of England , the Poor , the Vsurer , and all who depend on standing Salaries , would have had their Estates lessened a Sixth part at once , because their House-keeping and other Necessaries would have cost them a Sixth part more then they did before ; But if Rents , Wages , Interest , and Sallaries , must rise suitable to the Money , what fignifies its Advance ? On the other side , if Goods do not rise as our Money is made less , Forreign Nations will be supplyed with our Product and Manufactures for Five Sixths of their true value , whilst we grow poor by our General Trade , and yet the Expences of every Private Family be encreased , so far as they make use of Forreign Commodities . Money cannot be raised , it may be reduced into less Pieces , and this hath been a great Stumbling Block to many People , who have not well considered the Difference ; they tell us that a Penny in former days was the same with Three Pence now ; this must be granted , and yet it makes no difference , Twenty of those Pence made a Crown then , and so they do now , only for the Conveniency of our Trade , later Reigns have thought fit to Coyn Pieces of Silver one Third part of their Weight , and to call them by the same Denomination , and yet those pieces receive no value from their Name , but stand in an equal Proportion with the other , Sixty of them making a Crown ; in like manner , should the Crown be divided into Six Parts , whatever Name we might call them by , the true value of each would be but Ten Pence ; but this being already settled by Law , 't is to be hoped that the Parliament will not easily be prevailed with to alter it . The thing I chiefly aim at is still behind , viz. to consider how a Credit may be settled in this Nation , as good , or rather much better then what hath been lost ; That Trade cannot be driven without it , I have offered at in the beginning of this Treatise , and that it cannot be supplyed by advancing our Money , or any thing of that Nature , seems to me out of douht ; we are next to consider , what may be done ; all former Methods we see have failed , and indeed they never had a Foundation fit to support the Building raised on them ; our Bank , and Bankers had too much of self in them , to be the Support of a National Trade . Credit I take to be That , which makes a smaller Sum of Money pass as far as agreater , and serve all the ends of Trade as well , and to give Satisfaction to every one Concern'd , that he is safe in what he doth , for if the least Room is justly left for doubt , so far is the Credit weakened ; It must be such a Credit , as will answer all the occasions both of the Government , and also of the Trader ; It must be so setled , as to provide for those who are out of Trade , such as Widdows , Orphans , Gentlemen , and others , who living by Usury , care must be taken that their Money may never lye dead on their Hands , and that their Security be unquestionable ; by which means , though they lend cheaper , yet their Ptofit at the end of Seven Years will be greater , then it formerly was , when the rate of Interest was higher , but attended with Accidents ; It must be such a Credit , that the Trader may have Money on such reasonable Security as he is able to give , and for so long time as he shall have need to use it , and yet That Security be made strong enough to answer the Sum borrowed ; by which means our Products will be increased , our Manufactures incouraged , and our Fishery , with other Forreign Trades , managed on Terms equal with our Neighbours ; It must be such a Credit , that the Gentlemen of England may be furnish'd with Money at low Interest , and be permitted to make their Payments by such Parts as they can best spare it , the want of which is now a Clog on their Estates , and eats up very good Families , who when they are once gotten into the Usurers Books , can find no way out : such unhappy Gentlemen have too often their Houses filled with Scriveners and Sollicitors , who entertain them with the croaking Musick of Procuration and Continuation , till they have devoured their Estates ; It must be such a Credit as shall have an esteem in Forreign Parts , and make the Traders of Europe desire to house their Money here ; It must be so setled , that the Nations Debts may be as punctually paid as Forreign Bills , and all Men who trust the Government as well assured of their Money when due , as they are now from the most reputable Merchants ; then the King will buy cheap , when all who serve him are paid exactly , and the meanest Trades Men will not be afraid to deal with the Publick , when they are sure to be paid according to their Contracts , which now none but large Stocks can adventure to do , and therefore make their own Terms ; It must be so setled , that he who hath Money in one place of England may have it in any other Place where he shall want it , at an inconsiderable Charge , which cannot now be done , without locally altering the Species , and carrying the Money to the place where 't is wanted ; this will prevent many Robberies now committed ; It must be so setled , that as on the one side it may answer the ends of the Borrower , so on the other side it may likewise of the Lender . In a word , It must be a Credit set , led on an unquestionable Foundation , which may be wound up to a perpetual Circulation , like those Waters , which being first drawn up from the Sea , then shower'd down on the Earth , and strained through its porous Cranies , glide through the Rivers into the Sea again from whence they came , where they become the Subject Matter for future Exhalations . A Credit thus fix'd must needs be of great Advantage to this Kingdom , and should it cost an Hundred Thousand Pounds per Annum to carry it on , yet the Nation would gain many Millions by it , though if rightly setled , It will not only support its own Charge , but bring in a great advantage to the Publick ; such a Credit as This would make us the Envy of all our Neighbours , who though they might desire it , are not able by the Constitutions of their Governments to effect it . Nor are these all the Advantages the Nation will reap by a well setled Credit ; for besides , that out of the Profits thereof new Stocks might be provided for industrious Men , who , having been bred up in Trades beneficial to the Nation , and careful in those Imployments , have yet been forced to stoop under the Load of their Cross Fortunes ; which Wheels being again set at Work , will by their Circular Motion carry round many others , and by these Means in time reimburse their Benefactor ; much like unto well manured Lands , whose plentiful Crops do soon repay the Charge of Soiling laid out on them by their Proprietors , with Advantage , On the other side , Rewards might be raised for those , whose honest Heads have grown Gray in the Service of the Publick ; and herein we should imitate our Wise Neighbours , who do the same out of the antient Demesn of Holland , though in another way , whereby they give Incouragement to those who pass through the Imployments of their State , to serve it with Integrity , by an expectation to obtain this Honourable and Profitable Retreat in their Old Ages . I say besides these , many great things might be done for this Nation out of the Profits of this Bank ; as the Draining of Levels : Regaining Lands out of the Sea ; maintaining Lights for the Direction of Navigation ; providing Imployments for the Poor ; all which would more then pay the Expences laid out on them , and are Works too great for common Stocks , and fit only for Parliaments to undertake ; New Inventions might be rewarded , according as they were found useful to the Publick , which would be better then confining their use for Fourteen Years to the Inventor ; Committees or Councils of Trade might be erected ; and Courts Merchants settled for the more easie and quick deciding of Differences relating to Trade , which after great expences in Westminister-Hall , are now usually referred to the Determination of Those , who understand them better then the Lawyers can pretend to do ; Ships of War might likewise be built , fitted out , and separated for the Security of our Trade ; and all this out of those Profits , which formerly slid through private Channels into the Pockets of useless Men , who must be then forced to betake themselves to Imployments more Serviceable to the Publick ; in this we should out do our industrious Neighbours the Dutch , even in their own way . And since I have mentioned a Council of Trade , I cannot let it pass without some Reflections , ( though I have shewn the Advantages thereof , if well settled , in another Treatise ) we generally imploy Commissioners in the Management of things of much meaner Circumstances , and believe they cannot be well carryed on without them , who are supposed to understand what they undertake : whilst at the same time , the general Trade of the Nation ( which is the support of all ) lyes neglected , as if the Coggs which directed its Wheels did not require skill to keep them true ; Trade requires as much Policy as Matters of State , and can never be kept in a regular Motion by Accident ; when the frame of our Trade is out of Order , we know not where to begin to mend it , for want of a Sett of Experienced Builders , ready to receive Applications , and able to judge where the defect lies ; 't is not the twisting of Laws , and forcing them beyond , and sometimes contrary to their first Intentions , under pretence of advancing His Majesty's Customs , will answer that end ; nor worrying the Merchants with unnecessary and Groundless Suits , wherein the King's Name and Purse are often made use or to screen the Ignorance of Self Conceited Officers ; Honesty , Industry , and good Judgment , are three necessary Qualifications for such as are employed in the Publick Revenue ; if Reads vers'd in Trade were set at Work , the King's Customs might be advanced many Thousand Pounds per Annum , by such proper Methods , as would at the same time promote Trade , and enrich the Trader . 'T is certain , we cannot support our Trade long without a Substantial Credit , every Man running daily in Debt , and not knowing which way to get out of it ; the Species of Money will not answer the occasions we have to use it , by which means there is a difference already of Fifteen per Cent between Money and Credit , which must be paid , where Mens necessities do require the former , thus our Forreign Bills will become a Burthen on Trade , when the Premio of raising Money to pay them shall be so great , and consequently the Importer must advance it in his Sales , which will be a heavy Tax on the Nation ; both Gentlemen and Traders who are engaged in Bonds , must either make them a standing Charge on their Estates , or pay them off at Fifteen per Cent loss ; and this is not likely to grow better , but rather worse ; the Retailer will be the happiest Man , who hath the Conveniency of raising Money , wherewith he may purchase Bank Bills , and pay his Creditors with them , for which Opportunities will not be wanting in all places of England , when the Cloathiers shall be forced to receive them in payment from their Factors in London , under pretence that they had them for their Cloath , which , whether true or no , they will have a fair Opportunity to put upon them ; these Bills not answering the Clothiers Occasions , who must have Money to pay their Workmen , will be sold to Shop-keepers in the Country , who will return them thither again , to answer the Credits they have received there ; This will suddenly be our State , and the Trade of England Center in that great City , to the prejudice of all other Sea-Ports , unless some Care be taken to better our Credit ; for though our supply of Money may annually increase from the Mints , yet there will be People ready to catch it up , in order to make these Advantages ; and indeed every Man , to whose Hands Money shall come , will endeavour to do the same , so that to what a Condition the King's Affairs will in a short time be reduced , 't will not be difficult to Guess , when , besides former Cloggs , another addition of Fifteen per Cent shall be added to all the Money is taken up for the Occasions of the Nation . I am of Opinion that whatever Difficulties may seem to attend the settling of such a Credit , yet it may be done , and I humbly Conceive that Methods may be Proposed , such as may answer all the Ends Intended by it ; but then it must be done with an Eye designing only the general Good , Self must be clear shut out , and had we more publick Spirits , things which seem difficult would appear more easie ; Self Interest , as it Byasses our Judgments , so it perplexes our Designs ; a frank free Spirit for the common Good will go a great way in a generous undertaking , and the Publick is able to reward such honest Endeavours , which 't was better they did , then suffer the Treasure of the Nation to be eat up by Goldsmiths , and other Harpies , who prey upon our Vitals ; bv the one the generous undertaker is no Charge to the Publick , but increases its Treasure , whilst the other lessens it , and destroys our Trade into the Bargain . The Face of our Affairs seems to look lowring with respect to these three Things ; the meanness of our Credit ; the laugnishing of our Trade : and the ill management of Publick Offices in relation to both ; I do not mention this to amuse the Nation , but as deplorable as things seem to be , I doubt not a Remedy may be found out to rectisie all , if Men of quick and strong thoughts were set about it . I have already spoken to the first , our Credit ; The next is our Trade , which must be acknowledged to have laboured under the neglect of a tedious , bnt necessary War ; and this is not our Case alone , all Europe has felt the smart of it , and France hath had little Cause to boast ; I am apt to think it hath lighted more severely on that Nation then any other , it hath seized on the Vitals of her Trade , which it hath not done on ours ; Here let us Consider what are the Vitals of the Trade of France , and we shall find them to be , Wines , Brandy , Paper , Silks , Salt , and Linnens , in all which both our Selves , and other Nations , have made such a Progress , that the French , who live by them , will scarce ever recover the Blow they have Received ; On the other side , the Vitals of this Kingdom are , our Manufactures , our Fishery , and our Plantation Trade ; As to the first , it must be confest our Losses at Sea have been great , and lighted heavy on the Exporters , but still the Manufactury it felf hath not suffered , no other Nation hath beat us out of the making of them , nor hath had occasion to disuse them for want of a supply ; and if our Woollen Manufactures sink not in their Reputations Abroad , and Care be taken to secure our own Wooll from being carryed out , and to get that of Ireland brought hither Unmanufactured , farther Improvements may yet be made to the advantage of the Nation ; but having spoken largely to this Subject in my Essay on Trade , I shall referr the Reader to it , where I have likewise shewed how the Wool of Ireland may be secured hither ; I shall only now offer it as my Opinion , that better Steps may be made towards keeping our own from being Exported then have yet been done ; I confess all the Laws I have yet seen about VVool seem to reach but half way , they depend too much on Force and Penalties , and too little on Policy ; we must begin deeper , and secure the VVool from the time of its growing , till 't is wrought up into Manufactures ; This may be done by practicable Methods , and nothing less then this can do it ; our Laws must be so framed , that it shall be the Interest of every one concerned in Wool to put them in Execution ; Provision must be made to supply the Growers in all Countreys with Money to serve their Occasions , and when they shall see it more their Advantage to sell their Wooll , to be wrought up at Home , then to be sent Abroad , no doubt they will do it . Men are not apt to desire the ruine of their Native Countrey , but when they think themselves neglected , are often provoked to take such Courses , as they would not otherwise do ; Those of Rumny Marsh complain of this , that having few Clothiers , their Wooll lyes on their Hands whilst other Counties have any to sell , by which Means their Rents are unpaid , whilst their Tenants have sometimes Three Years Wool on their Hands ; now say they , let us be sure of our Money once in a Year , we our Selves would take Care that none should be Exported , 't is not the Price but the Payment that prompts us to take these Courses , which , in our own Judgments , we think destructive to the Nation ; This might easily be done if our Credit were well setled , and Wool might be made a better Staple then now it is ; nor am I of Opinion that the beating down its Price is our Advantage , 't would bear a better Rate if we could keep it from being shipt out ; I belive this Malady might be soon Cured , were the thing well Considered . The next Vital in Trade is our Fishery wherein we have had greater advantages then the French ; the Ports of Spain have been open to us , which have been shut to them ; This might be improved very much to the Interest of England , were a good Credit settled ; many Hundred Thousand Pounds might then be raised from these Northern Seas , which would be all Profit to the Nation . Neither have we suffered in our Plantation Trade by this War so much as the French have done ; I do not say we have not suffered in our Navigation , but our Plantations are not lessened since the War began ; and our Losses by Sea have in some Measure been made good to us by our Neighbours the Dutch , and others , who have depended on us for their Products , to whom we have sold both our Sugars and Tobacco , at higher Prises then we could have done , if all our Ships had come home well ; These are our Golden Mines , and have helpt to support the Ballance of our Trade during the War , their Products being clear Profit to the Nation ; and might be yet more Serviceable , were Laws made which might effectually secure all their Product to be brought hither ; especially Tobacco , whereby we might as it were put a Tax on most parts of Europe , and make them pay towards the Support of our Government ; 'T is a mighty advantage to a Nation , when it produces a Commodity , so generally desired , and so universally used , as Tobacco is , which , Custome hath to some People made equally-necessary with Provisions , so that they can as well be without the one , as the other ; such a Trade as this , ought to be guarded with a great-deal of Care , and all our Laws should tend to make it easie ; where great Duties are laid , endeavours should be used to have them equally paid , else Men do not Trade alike , but the honest Importer will be under sold by him , that runs them ; I humbly Conceive , a Modell might be proposed to make this Commodity much more advantageous to the Kingdom , and to shut out Strangers from being concerned therein : ways may be found out to secure Tobacco from the time of its being cured in the Plantations , till the Duties were paid in England , and by such Practicable Methods , that none should go besides the Mill , or be Exported to Forreign Countries , till it had first paid a Toll here ; If this were done , we might set almost what Price we thought fit thereon to Forreign Parts ; such a Trade as this deserves all the Incouragement the Nation can give , both to the Planter , and also to the Importer , which cannot be done by any Laws I have yet seen , but new ones may be made , whereby the former might be incouraged to raise greater quantities , and the latter to fetch them Home , and the Government might receive a considerable Revenue thereon , both from the Retailer , and the Exporter , with very little Charge , were a National Credit well settled . Lastly ; The Publick Affairs cannot be expected to be Managed well till a good Credit is setled , and from hence do arise all our Miseries ; 'T is a Shame to see how Its Debts are Compounded , and those who trust It forced to make Provision accordingly by great Over-charges , whilst the Nation pays the whole , The rest being devoured by Agents , Tally-Buyers , Sollicitors , Goldsmiths , and others , who raise great Estates on the ruine of the Publick : besides the excessive Rates the KING is now forced to pay for Money , and the Chain of ill Consequences that attend the non payment to such as are imployed : Our Souldiers would fight more Couragiously , and our Sailers serve more willingly , were they paid more Punctually ; and I dare presume to say , that if a Credit had been well setled at the beginning of this War , it might have been carryed on with better Success , and we appeared more formidable to the French then we have done , for half the Charge it hath now cost the Nation . FINIS . 
A39736	----	A sermon against clipping, preach'd before the Right Honourable the Lord Mayor and court of aldermen, at Guild-Hall Chappel, on Decemb. 16. 1694 by W. Fleetwood. Fleetwood, William, 1656-1723. 1694 Approx. 46 KB of XML-encoded text transcribed from 19 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-10 (EEBO-TCP Phase 1). A39736 Wing F1248 ESTC R5389 11794134 ocm 11794134 49281 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A39736) Transcribed from: (Early English Books Online ; image set 49281) Images scanned from microfilm: (Early English books, 1641-1700 ; 492:24) A sermon against clipping, preach'd before the Right Honourable the Lord Mayor and court of aldermen, at Guild-Hall Chappel, on Decemb. 16. 1694 by W. Fleetwood. Fleetwood, William, 1656-1723. [2], 29, [3] p. Printed by T. Hodgkin, and are to be sold by J. Whitlock, London : 1694. Reproduction of original in Huntington Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. 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Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Sermons. Sermons, English -- 17th century. Adulterated coins -- Sermons. 2006-12 TCP Assigned for keying and markup 2006-12 Apex CoVantage Keyed and coded from ProQuest page images 2007-01 Robyn Anspach Sampled and proofread 2007-01 Robyn Anspach Text and markup reviewed and edited 2007-02 pfs Batch review (QC) and XML conversion Mr. FLEETWOOD's SERMON AGAINST CLIPPING . Lane , Mayor . Cur ' specialis tent ' die Dominico xvi die December is 1694. Annoque Regis & Reginae Willielmi & Mariae Angl ' , &c. Sexto . This Court doth desire Mr. Fleetwood to Print his SERMON , this Day preached at the Guild-Hall Chappel , before the Lord MAYOR and Aldermen of this City . Goodfellow . Imprimatur . Carolus Alston R. P. D. Hen. Episc . Lond. à Sacris . Decemb. 18. 1694. A SERMON AGAINST CLIPPING , Preach'd before the Right Honourable the Lord Mayor AND Court of ALDERMEN , AT GVILD-HALL Chappel , On Decemb. 16. 1694. By W. FLEETWOOD , Chaplain in Ordinary to Their Majesties . LONDON , Printed by Tho. Hodgkin , and are to be Sold by John Whitlock , near Stationers-Hall , 1694. GENESIS xxiii . 16. And Abraham weighed to Ephron the Silver which he had named , in the audience of the Sons of Heth , four hundred Shekels of Silver , currant Money with the Merchant . AFter a generous Contest betwixt Ephron the Hittite , offering freely as a Gift the Cave of Machpelah , and Abraham handsomly refusing so to take it , but desiring earnestly to purchase it for a possession of a burying-place amongst them , at an appointed Price , it was agreed , That he should pay Four hundred Shekels of Silver for it . And Moses tells us in the Text , That Abraham weighed to Ephron , &c. Of which Words , the Use that I intend to make , at present , will be this , to take occasion from them to consider . First , The Use and Necessity of Money to the carrying on the Trade and Commerce of the World. Secondly , The Mischiefs of corrupting and debasing Money , the coyning of bad Metal , or the clipping and stealing from good . Thirdly , The Reasonableness and Justice of the Laws that punish such Offenders . I. First , Of the Use and Necessity of Money to the carrying on the Trade and Commerce of the World. Men finding it , at first , impossible to subsist of themselves , and by the immediate Product of their own Labours , were constrain'd to have recourse to one another , to supply their Wants : They carried what they had the greatest plenty of , and best could spare , to purchase what they needed most , at another's Hands ; who gave them what they came for , in consideration of what they brought , if he found it valuable with others , or useful to himself . This was , it is agreed , the way Men took at first , in the Infancy of Time and Trade , to furnish themselves with the Necessaries , and some of the Conveniencies of Life , by Bartering and Exchanging one Commodity for another . But this was found to be very inconvenient , upon the account of its being difficult to agree upon the Price and Value of what each had in his Possession ; and the trouble of carrying and transporting Goods and Cattle from Place to Place , and losing oftentimes their Pains and Labour , by reason that no one wanted what they brought , nor would exchange , unless they would part with it , to their great loss . And therefore , to prevent these Inconveniencies , it was agreed upon ( we know not when , nor how , exactly ) that something should be us'd in common by them all , with which they should be able to purchase every thing they wanted , from another ; and by which they might rate and value all things that they had themselves : To set up ( in a word ) some one particular thing , to be the common Measure of the Worth and Price of every thing besides : And this was to be something that was portable , for ease and convenience ; something durable , that it might not by constant use wear soon away ; and something not over-scarce , nor over-common ; and something , lastly , that was beautiful . All these Qualities concurring in Metals , such as Brass and Copper , Silver and Gold , they were each of them pitched upon , by several Nations , according to the Plenty , or the Scarcity they had of them , to serve to all the above-nam'd Purposes : And this great thing that was to counter-balance , and ( as the Preacher says it does , Eccles . x. 19. ) to answer all things else , was what we now call Money . How long this thing has been in practice in the World , is of no great ▪ Use to enquire ; the mention of it in the Text , is older than we can find in any Book besides , by at least Seven hundred Years , and yet there is no doubt but Money was us'd before the Days of Abraham . But what is to our purpose to observe , is , That it was valued both by Buyer and Seller , according to its Weight ; and all the Money that was received , was first weighed , as being the only means to remedy the former Inconveniencies ; for by this , a Man was sure , that he received so much Money as he rated his Goods at , and with which he might purchase as much of what he wanted , as he could have had in exchange for his Goods , without the trouble and hazard of carrying them up and down . For Money is the common Pawn or Pledge , that one Man takes , in hopes of parting with it to another , for what he wants , whenever he sees fit . But this could never be , unless its weight were certain and determin'd . It is therefore sure , that weight is Mens security , and the true intrinsick worth of Money . But because it was too troublesome , and took up too much time , to carry Scales , and weigh whatever they receiv'd , Men found it convenient to have a Stamp or Mark set upon every Piece , to signifie its weight and value ; by which Men knew what they receiv'd or paid away , with little or no trouble . Yet something still was wanting to secure the truth of Payments : Men might be fraudulent and false , and bring their Money , truly Mark'd and Stamp'd , and of a just Weight , but of somewhat a baser Metal , and more alloy than it should truly be ; by which a Trader should receive as much for quantity and denomination as he ought , but not of equal fineness and goodness with the current Coin. To guard Men therefore against all these Mischiefs , and to keep them from doing and receiving Injuries , and from imposing one upon another , and to secure Trade , it was judged absolutely necessary to intrust the Kings and Governours of Nations with the Care and Charge of Coining all the Publick Money . For who are so fit as they , who are presum'd to be the Fathers of their People , the Men of greatest Honour and Integrity , who are the most concern'd , and have the most to win or lose , and who are appointed and set up by God and Man , for no other end and purpose than to consult , procure , and conserve the general Good of their respective People : Who are so fit as they to have this Charge committed to them , that is of such Importance , and so universal a concern ? So that now we have the Publick Faith and Conscience , Interest and Honour , all engag'd to secure to the Receiver the Weight and Fineness of every single Piece of Money . The Heads of Princes are not only stamp'd for Ornament and Honour , and to declare who are and have been Governours of such a Nation , but publickly to vouch the true intrinsick worth of every Piece , and tell Men that they there receive so much Silver , and of such a fineness , and that that Image warrants it : And for this cause it has been always highly Penal to Counterfeit the Publick Stamp , and to Coin Money , tho' of equal Weight and Goodness with the King 's : Not that any great evil is hereby done to any Man , but that if this were indulg'd to private People , the World would fall again into distrust and fear , into suspicion and uncertainty about their Money , and return anew to weighing and trying all they took . This is the short Account and History of Money . Necessity ( which grows continually , and will do so to the World's end ) first introduc'd the use of it ; and it could not be useful but by being the common Standard and Measure of the Price and Worth of every thing besides ; and it could not be this , but by being of such a certain and determined Weight and Fineness ; and of this we could not be secure , without much Pains and Trouble , but by entrusting the Coinage of it to Kings , and such as they Commissionate and Appoint , to see that the Commonwealth receive no dammage . II. We are now in the Second Place , to see the Mischiefs of corrupting and debasing Money , the Coining bad Metal , and the Clipping and Stealing from good . The Coining even of good Metal and full Weight , is ( we have seen above ) of ill Example , and of ill Consequence , when done by Private People , and without Authority , because it lays the way open to Deceit and Fraud , and takes away the Trust and Security Men have in the Princes faithful and honest dealing with them , and brings them again to a state of jealousie and caution each of one another . But , to be sure , the Coining of bad Metal , must be mischievous : Just so much Mischief and Injury must needs be done to every individual Man that takes it , as there is wanting of the usual Weight and Fineness in each single Piece . Suppose , for instance , Men should mix one third of baser Metal with their Silver , and put it off for good and true , and such as it pretends to be ; 't is manifest , that every one receiving such a Piece would be impos'd upon , and lose one third of what he ought to have : For the Publick Faith engages , that every Man receiving a Piece of such a Mark and Denomination , shall receive in it so much Silver , and of such a Fineness ; and here a Man receives but Twenty Pence for Half a Crown , whose Stamp proclaims it is to go for Thirty . The Case indeed is not so well as I put it , for they who Coin false Money , give us neither a fifth nor sixth part of good Silver ; and all that is wanting is so much Cheat and real Injury : So that that impudent Demand of Who is hereby Wronged ? can find no Place ; for every one is wronged that takes this Money , and every one is actually a loser more or less , by reason it quickly stops , and is not currant : Here every body sees and feels the Injury ; and if it falls upon the Poor and Labouring Man , he loses , it may be his Day 's Work , and the Family its Subsistence and Provision : But I put the Case so fair , that I may not multiply particulars , but join the Clipping of good Money with the Coining of bad , and mixing baser Metal with Silver : For if Half a Crown be Clip'd to Twenty Pence , it is equal to Half a Crown not Clip'd , that has but Twenty Pence of Silver in it . And the Injury to Private People is the same ; and therefore I consider them as one and the same Offence , in that they both alike defraud the Receiver of what is his due ; for there the Injustice lies : that is the Sin at the bottom ; there is so much stollen from every Man as there is less given him than he should receive . And this administers occasion to People , either Strangers or Natives , to Cheat us even with true Silver ; for they may secretly Coin us ( as 't is probable they do ) a great deal of true Silver , but not of full Weight , and putting it off under the shelter of Clip'd Money , do gain thereby at least one third . Now no one gains but what another loses in such Bargains . By this the Foreigners ( that are but dextrous and will venture ) have opportunity of purchasing what Commodities they please , and paying us with little Money , for which they must otherwise ( were there no Money Clip'd ) give us good Silver , and full Weight , either of theirs , or our own Coin. Thus Clipping lays us open to the Cheats and Injuries of all the World , as well as of our own People . I do not say that Strangers do , but that they may improve the Villany and Injustice of our own Clippers , to their own advantage , and to our farther Mischief ; and 't is a wonder if they do not : For it is not very likely that one Nation should raise the value of its Money above its true intrinsick worth ( which is indeed its Weight and Fineness ) but that its Neighbours will have some advantage by it , by Importing Money of the like Weight with that which goes Currant . Now the passing of Money Clip'd , for Money of just Weight , is , in effect and truth , raising our Money , and making that to go for Thirty Pence , which is indeed but worth Twenty . And therefore there is , at least , some hazard of Foreigners Coining and Importing Money of equal Weight and Fineness with our own , which cannot possibly be done , without our great prejudice : Now this could never come to pass without our Clipping , for that alone it is that gives them opportunity ; that is the handle they may take their hold of : And if we do not see Money of this kind pass commonly about , it is no Argument that there is none Imported from abroad , nor Coin'd at home , for a little Art is sufficient ( they say ) to cover that deceit , and make it pass for old . Well , but the Money passes still for good and currant Coin , and where is then the Mischief ? a little Shilling buys as much as a great one , and the Name and Character of Pieces are as good a Standard and Measure of the Price and Worth of all things else , as if they were full Weight , and answered to their Name and Character ; and therefore where is the Offence and Injury ? who is hereby wronged ? This indeed is the last resort of all the Patrons of this Practice ; the Refuge to which the Guilty fly themselves , and the consideration that stirs the Peoples pitty at their Sufferings ; they think that hereby none is Injur'd , but this is a mistake , for every one is Injur'd more or less by Clipping . The Merchant that Exports more Goods from home , than he Imports from abroad , must unavoidably discharge the over-ballance with good Money ; this he can never do with Clip'd , for it is not Caesar's Face and Titles , but Weight and Goodness that procure Credit : And if a Foreigner Import more of his Country Goods than he carries away of ours , the over-ballance must be paid in weighty Money , for the Clip'd will not go abroad : Now , if the Exportation of our weighty Money ( which is only now the Mill'd ) be a mischief to the Nation , we see it is occasion'd chiefly by the Clipping : for if the Old were of the same due Weight with the New ( as it is before these Thieves steal from it ) the New and Old would be Exported alike ; and then the Complaint would only be of the Exportation of Money in general ; which , whether it be Good or Evil to a Nation , I have nothing to say : Only one cannot help seeing , that as there is Law on one side , so there is unavoidable Necessity on the other , if we Import more Foreign Goods than we carry out of our own Kingdom . I am only concern'd to say , that if Exporting our New-Money be a mischief , it is owing especially to the Clipping of the Old ; and that therefore Clipping is Injurious . And if we do not give these Foreigners our weighty Money in exchange for their Commodities , because we cannot get it , yet we must give them Goods proportionably more or better ; They will not be Losers by our Clipping : They will either contract for Money of full Weight ( if they be to carry Money home , or to another Trading Country ) or for proportionable allowance in the Goods they take for what they bring . And what is the consequence of a Merchant's paying more for what he buys of a Foreigner , but that he will ask a better Price of the Retailer ? And the Consequence of that must needs be , that every one that buys must make amends for the Defect of clip'd Money . And thus the Injury is universal ; all that consume Commodities of Foreign growth or make , are affected more or less by this first Injury ; but because the Mischief is so general , and diffus'd , and at such distance and remove , Men either think not at all , or but slightly of it . An Instance , it may be , will make the Matter plain to every one . Suppose then that a Foreigner import ( and it is the same thing , as if we fetch'd ) from abroad , Goods to the value of Thirty thousand Pounds ; but it is Silver only , and not Goods that he will have in exchange for what he brings : You are therefore sure , that he means not Thirty thousand Pounds in clip'd Money , for that he sees is no more worth than Twenty ; and you may call it how , or what you please , at home , but it is not , as the Text expresses it , Money currant with the Merchant ; i. e. with one that Trades abroad , unless it be of full Weight . The Commerce therefore is at an end , unless you can procure him full Money ; which being impossible , ( we may well enough suppose it so , for so it will shortly be , without all peradventure ) it must be made up of the clip'd , and then he receives what is but as Thirty to him , but it may be very near Forty from us . And who must make up this , but we that buy these Goods at second , or third , or farther hand ? The Merchant will not sell that for Thirty which cost him Forty , we may be sure ; and therefore it is evident , to a Demonstration , That every one pays proportionably more for what he buys , by reason of Clipping , and therefore every one is cheated by it , and cheated constantly , altho' he mind not the particulars . This Evil is indeed avoided , where Foreigners will take our clip'd Money , in assurance of putting it off again , for Goods they want to carry home ; but it is only avoided for the present ; the Nation will unquestionably feel it , ere long , to their great smart ; the Punishment is indeed deferr'd , but every one knows that that is no acquittance . Suppose a little farther . That a Company of ill-designing People should buy up all the Plate in London and pay for it in clip'd Money : The Goldsmiths will by these means give more away than they receive , by at least one third of Sterling Silver . This opens the way to their prodigious loss , for if the Money should be call'd in then , ( and why not then , as well as any time after or besides ? ) they must undoubtedly be losers so much by it ; and why should any Body of Men be so expos'd to Ruine , by such Villainy ? Well , but they are content to Traffick at this Rate ; yes , and so must every one besides , by a strong Necessity ; but it is still in hopes that they shall pass away what they receive , at the same Price : But will not this Hope perish sometime or other ? Yes , unquestionably , but because we know not when , we do not value it . But is not Clipping , notwithstanding this uncertainty of Time , an Injury and piece of Theft ? Because we do not feel at present , do we never fear a Mischief for the future ? We think not so weakly in any other Case . What makes Men plant , in their Estates , the Trees , they know that they shall never reap the Fruits of ? What makes them build the Houses , that will last for many Generations after they are dead and gone , but the Care and Concern they have for their Posterity , that it may be well with their Children , and with their Childrens Children after them ? We see Men guard , in all their Contracts , as much against Evils to come , as those that are present , or near at hand . If a Man should undermine our House , we should not be content and easie , altho' the Men of skill should assure us , it would last and our time , with all security ; we should be fearful that it might not do so ; or if it should , we should be careful for our Children . Whoever lays the Foundation of our Misery , does then begin to make us miserable , tho' we may not feel it for some time after . So when we decline towards old Age , we often find our selves pain'd and diseas'd , with the Strains that happened in Youth , and vigorous Exercises , which then were over-look'd and quite neglected . No one can tell exactly when this Mischief will break out , and what the Effects will be ; but let them be as kind as they can , they will be very heavy to the Nation . When once the suspicion of calling in this Money shall appear , there will unavoidably be a suddain stop of Trade , among Retailers , for some time ; for no one will receive what he is sure to lose by ; and this , tho' it be short , will yet be hard and grievous to mean People , and such as live by the Day , who will not know how to find themselves and Families with Necessaries for some space of time , till Money get into its old Current . This Mischief may appear short and inconsiderable ; but be it so , what is the Good that counter-balances it ? What need is there of any Mischief ? Why should these Villains hazard the Distress and Misery of poor and labouring People , tho' it were but for a Week ? The Common People then , will see and feel the Injury and Mischief that is done by Clipping , which now they cannot understand , or will not well consider . They will find that the little Money they then have , will not go for more than its just weight ; and be convinc'd by Hunger and Thirst , that Clippers are as truly Thieves and Robbers , as those they find upon the High-ways , or breaking up their Houses , and do as well deserve their Chains and Halters . And who can tell , whether every single Person must not bear his own Burthen , and stand to the loss of all that is wanting of due Weight , of all the Money he is Master of ? And if he must , the Cry will be like that of Egypt , loud and universal , for every Family will be a loser : But it will fall severest on the Poor , who from a little can spare none . One of our Historians [ W. Hemingford , Anno 1180. ] tells us , That in H. the Second's time , the Money of the Kingdom was so corrupt , that it was fain to be chang'd and call'd in : It was indeed necessary , but it fell exceeding hard upon the Poor and Country-People . So it was also in the time of Hen. III. upon calling in the old and clip'd Money [ M. Paris , Anno 1248. ] by Proclamation , the People were more distress'd , than if Corn had been at Half a Crown a Bushel , ( which was then , I believe , equal to Twelve or Fourfteen Shillings now ) for the new Money was not yet come to their great Towns ; and when it was , they receiv'd no more new , than their old came to by weight ; paying also , over and above , Thirteen Pence in the Pound for Coinage ; so that besides the loss of Time , and the great Charge they were at , to come to the several Places of Exchange , they were sent away with hardly Twenty Shillings , for every Thirty , that they brought along with them . Arctabatur Populus , non mediocriter damnificatus . The People were straitned , and receiv'd no small dammage ; they lost , you see , one Third . The Poor still suffered most , and so it will always be ; for a small Weight is heavy to the Weak and Faint ; and a little Loss grievous to such as have but little . Neither , Lastly , Is the Evil far remov'd , altho' the Publick bear the Loss , for every Man is Part and Parcel of the Publick . And if the Mint receive the little Money in , and deliver out good and full , yet must it needs be , that these Particulars must fill the Exchequer , in return for what they have receiv'd of new Money . That is , a general Tax must answer for the Robberies of these Villains ; the Good and Innocent , the Careful and Industrious People , must contribute to the making up the loss the Publick sustains by the Injustice and Theft of Clippers . And how soon this will be , no one can tell , but by the haste that is made to make it necessary , it cannot well be far off . I have spoken exceeding modestly and moderately , when I supposed we were only cheated of one Third ; I did it to make the Case plain , for every one sees , that near to half is taken away , which opens the Passage to a Suspicion , that Covetousness as well as Luxury , is at the bottom , in the Crime of Clipping ; and that some People will grow Rich thereby , as well as others feed their Vices and Necessities ; for it does not seem very probable , that so much Money should be spent by those poor and mean Wretches , who are commonly discovered to live by this unjust and wicked Practice : The Summ is much too big for them ; and one cannot well account , how almost all the old Silver that circles round the Nation , should come into these Clippers Hands in the compass of a few Years . But with this I have little to do . It is enough to answer my Design and Purpose , if I have shewn you with any clearness , the Mischiefs of corrupting and debasing Money , the Coining bad Metal , and the clipping and stealing from good ; for then the way is open to the justification of the Laws , that are made to punish such Offenders ; which was the Third and last Particular . III. Nothing can justifie the severity of Legal Punishments , but their Necessity ; and nothing evidences this Necessity , like the sight and knowledge of those Evils and Mischiefs the Laws design to prevent as well as punish : And therefore , the laying open the Injuries and Mischiefs of Clipping and Coining is the readiest way to clear the Reason and Justice of such Laws , as doom to Death such Malefactors . This I have been already trying to do , and tho' , there is no doubt , but the Men of Skill and Experience in Trade , and Money-matters can see more Mischiefs than I mention , rising from these Practices , yet certainly these mentioned are sufficient to acquit our Laws from being Cruel or Unjust ; for what can Laws do less , than secure the Honour of the Nation ( which is much concern'd in the Goodness and Weight of its currant Coin ) with respect to Foreigners , and just and righteous Dealing with one another at home ? And if nothing less than Death will serve to these good Ends , then putting Men to Death for Clipping and Coining is neither Cruel nor Unjust . And tho' more Pity usually attends these Criminals than others , yet the Laws have not therefore less of Reason and Equity , that condemn them ; nor is their Fault less heinous in it self , or mischievous to others . But our Pity arises from hence , That we see Men going to suffer Death for a Crime , by which we know of none that are undone , or greatly injur'd ; the Evil is unfix'd and undetermin'd , and we cannot put our selves into their Condition who are hurt by these Offenders , as we can and do in other Cases , which excites our Indignation . Thus when a Thief breaks in upon a House and steals , we are immediately sensible both of the Fright and Injury , which a particular Person feels , and the Concern we have for him and his Family , that may be undone by the Robbery , counter-balances our Pity for the Criminal . Self is more nearly touched , for this may be the Case of every honest Man , and therefore fear for our Selves and Families , as in danger of being ruin'd by the like Villany , out-weighs our Pity to a Felon . But in the Case of false Coinage or Clipping , we think immediately only of a Dammage to the Treasury , which we esteem above our Pity : Or we conceive a Dammage publick and general , which excites no pitiful Resentments in us , because we have our Eye on no particular Man as ruin'd or undone thereby . But the remembrance of what hath been above-said , of the Mischiefs that are truly done , both to the Publick , and to almost all Particulars , will change this ill-plac'd and mistaken Pity , and transferr it to those , that suffer Want and Misery by these ill Practices , altho' we do not know them in particular ; for 't is impossible that so much Mischief should be done , but some or other must suffer by it . But to shew you that our Laws are neither cruel nor unjust in this Affair , it is sufficient to say , that they agree with the Laws of almost all Nations , which seldom do conspire in bloody and inhumane Executions . The Romans considered this Crime of Clipping and Coining , generally speaking , as High-Treason : See at the end . A They made exact enquiries after these Offenders : They tortured Men to confess their Accomplices : They allowed Rewards and Privileges to such as would Impeach ; if they were Slaves , they were set at Liberty , and the Exchequer paid their Ransom to their Masters : If one of these Offenders escap'd out of Custody , his Keeper , if privy to it , certainly died for him : If the Master or Owner of the House or Place where such Offence was committed , were conscious to the thing , altho' not actually employ'd himself , he forfeited his House , Goods , and Estate , and was himself Transported ; and if he knew nothing of the matter , yet he Forfeited his House , unless he made himself the first discovery to the Magistrate ( to oblige them , I suppose , to greater caution whom they trusted in their Houses . ) All Servants , Helpers , and Assistants , were also Condemn'd to dye , as well as the principal Agent : And the Death they often underwent , was being burnt . And yet the Romans See B were as sparing of Blood , and as merciful in their Executions as any Nation whatever . The Laws of the Wisigoths punished these kind of Offenders , if they were Slaves , with the loss of their Right-hand ; if they were Freemen , with the loss of half their Estates , and being made Slaves to whom the King pleas'd . The Laws of our own Country in King Athelstan's time , punished them ( as above ) with the cutting off their Right-hands , and fixing them over the place where they committed the Offence . In King Ethelred's days they were to undergo the Treble Ordeal ( i. e. to carry a Red-hot Iron of three pound weight in their hands such a determined space of Ground ) and if they miscarried there , they were to dye . In Henry I. time they were Condemned to lose , some their Hands , and some their Eyes : And some ( in allusion to the Word ) who were found to adulterate the Kings Coin , were so punish'd as if the Laws intended to prevent Adultery it self : As appears in our Histories of those Times . These Punishments were after chang'd into the Modern Executions , and have so continued ever since , altho' 't is probable that Punishments of greater Pain and constant Shame , such as they heretofore were , would secure us better , than putting Men to a short and easie Death . Thus much I think may suffice to vindicate our Laws from the reproach of being Cruel or Unjust ; and ( if Men will but well consider ) to wean them from that soft pernicious tenderness , that sometimes , certainly , restrains the hand of Justice , slackens the care and vigilance of Mastrates , keeps back the Under Officers , corrupts the Juries ( for Passions and Affections bribe as well as Gifts ) and with-holds the Evidence , both from appearing and from speaking out , when they appear . These are the ill effects of a weak and undue compassion , shewn especially to these kind of Offenders , which help ( 't is more than likely ) to encrease their number , and the Misery of honest People , and therefore should be better thought upon by such as are so concern'd . And now , if I have shewn you ( as I thought to do ) That this Offence is fruitful of Mischiefs ; that it dishonours the Kingdom , and does apparently damnifie every particular Man , and will do more and more so , and fall at last with a most deadly weight somewhere or other , and , to be sure , with greater violence on the Poor and Mean , who are least able to endure it ; if this be manifest , our Laws and Executions are not only clear'd from all their Imputations , but I have also found out , for these Wretches , a sufficient Ground and Bottom for Repentance , which they , it seems , are generally ignorant of : They can see they have offended against the Laws and Statutes of the Kingdom , and can acknowledge that their other Sins and Offences have betray'd them to these Practices , but they cannot see the justice of those Laws , nor the wickedness of these Practices : They can be sorry for their great Misfortune , but they know not how to repent of Clipping and Coining , as Sins against God or their Neighbour ; and therefore however guilty they may be in other respects , yet the sense of these Offences affects them little or nothing . All this pretended Innocence depends ( as I have shewn ) on this mistake , that No one is Injur'd hereby ; and they presume that no one is Injur'd , because they design the Injury of no particular one , nor know of any that is Injur'd by it : The Evil that is done is unfix'd and undetermin'd to Time , or Place , or Person , and therefore they conclude that none is truly done . If these were not their private conceits , why should not they conclude themselves as guilty of Theft and Fraud , and of Injustice , as much as any other Robbers , and consequently repent as throughly and sincerely of them ? But it will not follow , that because a Man either forgets or knows not whom he has Injur'd , that he has therefore Injur'd none , nor needs to repent or make amends . For if a Man should , in the course of his Calling , set aside the fear of God , and all regard to Honesty and Justice , and make his advantage of People's Ignorance and Simplicity , their Easiness or want of Understanding , and Cheat them all he could , without intending to Cheat any one particular more than another , it will not follow that he has Cheated none , because he intended to Cheat no particular ; nor will it follow that he has Cheated no more than he remembers to have Cheated ; nor will it follow that he is obliged to repent of no more Injustice than he can call to mind done to Particulars ; nor will it follow that he is not obliged to Restitution and Amendment , because he has Cheated more than he remembers . The Man knows very well that he design'd his own advantage all the while , and had no consideration of the Means ; and knows that a great deal of wrong must needs be done , and that He did it ; and knows that a great deal of Wrong calls for a great deal of Sorrow , and a great deal of Satisfaction . And this is certainly the Coiners and the Clippers Case , which requires as full and true Repentance as any other Robbery whatsoever , in as much as it is equal to any Theft of the same Value , with respect to private People , and with respect to the Publick much above it . And what is said of these as Principals , is also true in its proportion of all that are Accessaries ; all that are any ways concern'd in this Affair , such as knowingly provide or make their proper Instruments ; such as go up and down , whether in City or Country , to procure broad Money ; such as sell these People broad Money for great Gain , which cannot possibly be done without a strong suspicion of the Purchaser ; and such as are employed to vend and put off these pieces so corrupted and debas'd ; and lastly , such as easily receive and purchase the Clippings and Filings of Silver , at the Hands of justly-to-be-suspected Sellers . I know not how they can ( any of them ) acquit themselves ( not to the Laws and Statutes of the Kingdom only , but ) to God above , and to their own Consciences , who are in any sort Partakers with these Robbers of the Publick . And upon this Account , a Discourse of this Nature may be ( I hope ) in this Place , as justifiable , as any one else upon the Eighth Commandment : And I will believe I speak to Magistrates , not only careful of the Dignity and Honour of our Laws , but of the Welfare and Security of innocent and honest People , and who will therefore take what Care they can , to bring to Light , and Punishment , these Offenders . And if there appears but little of Christianity in such Sermons , it will be to such as consider not , how great a Part , Justice and Honesty , and fair and righteous Dealing make up of this Divine Religion ; and how great Care the Doctrines of the Gospel take , not only of Mens Souls in the World to come , but of the Good and Welfare of their Bodies here . An honest Man and a good Christian will never be two distinct things in a Christian Kingdom ; for the chief Design of our Religion is to make us good and honest Men in this World , and to propose Rewards to such as will be so , in the World to come . And therefore , if I have convinced any one , of the Fraud and Villany , the Injustice and the Theft , of Coining and Clipping , and thereby shall deterr them from entring on , or persisting in , those evil Practices , or shall reclaim them from them , and occasion their Repentance and Amendment , I shall make no doubt of having served the Interest and Design of Christianity , in a great many Particulars . And in this Hope I will end this Sermon , leaving it to the Blessing of God Almighty , the Father , Son , and Holy Ghost ; to whom be all Honour , and Glory , now and for ever . FINIS . A L. II. 9. Th. Cod. Tit. 21. Constantinus ad Januarium . QVoniam nonnulli Monetarii adulterina moneta , clandestinis sceleribus exercent , cuncti cognoscant , necessitatem sibi incumbere hujusmodi homines , inquirendi , ut investigati tradantur Judiciis , facti conscios per tormenta illico prodituri , ac sic dignis suppliciis addicendi . 2. Accusatoribus etiam eorum immunitatem permittimus ; cujus modus , quoniam dispar census est , a Nobis per singulos statuetur . Servos etiam qui hoc detulerint Civitate Romanâ donamus , ut eorum domini precium à Fisco percipiant . 3. Si quis autem Militum hujusmodi Personam susceptam , de custodia exire fecerit , Capite puniatur . 4. Appellandi etiam privato licentia denegetur , si vero Miles aut Promotus hujusmodi crimen incurrit , super ejus nomine & gradu ad nos referatur . 5. Si dominum fundi vel domus conscium esse probabitur , deportari eum in insulam oportebit , cunct is ejus rebus protinus confiscandis : Si vero eo ignaro crimen commissum est , possessionem aut domum debet amittere in qua id scelus admissum est . Actor fundi , vel servus , vel Incola , vel Colonus qui hoc ministerium praebuit cum eo qui fecit , supplicio capitali plectetur , nihilominus fundo , vel domo fisci viribus vindicanda . 6. Quod si Dominus ante ignorans , ut primum repperit , scelus prodidit perpetratum , minime possessio vel Domus ipsius proscriptionis injuriae subjacebit : Sed auctorem ac ministrum poena Capitalis excipiet . Dat. 12. Kal. Decemb. Rom. Crispo . 2. & Constantino . 2. CC. Coss . [ 321. ] B L. I. Cod. Th. Tit. 22. Imp. Constantinus , Leontio , P. P. Omnes Solidi in quibus nostri vultus ac veneratio una est , uno pretio aestimandi sunt atque vendendi , quanquam diversa formae mensura sit : Nec enim qui majore habitu faciei extenditur , majoris est pretii ; aut qui angustiore expressione concluditur minoris haberi credendus est , cum pondus idem existat . Quod si quis aliter fecerit , aut capite puniri debet , aut flammis tradi , aut alia poena mortifera . Quod ille etiam patietur , qui mensuram Circuli exterioris adraserit , ut ponderis minuat quantitatem : Vel figuratum solidum adultera imitatione in vendendo subjecerit . Dat. 7. Kal. Aug. Gallicano & Basso Coss . [ 317. ] C Si monetarius reus fuerit , amputetur ei manus , & ponatur super monetae Fabricam . Si inculpatio sit , & se purgare velit , eat ad Ferrum calidum , & adlegiet manum ad Canfaram ( candens ferrum ) quod non falsum fecit . Si in Ordalio reus fuerit , fiat ei quod supradictum est . Leg. Athelstani R. Jo. Brompton . p. 843. Et omnis Monetarius qui accusabitur quod falsum fecit , postquam interdictum fuit , adeat Triplex Ordalium , & si culpabilis sit , occidatur . Leg. Ethelredi R. 11. 26. 27. 27. 28. 29. 30. p. 898. De correctione Pecuniae , ut una moneta per totas has Nationes sine omni falso teneatur , & nemo repudiet eam . Et qui posthanc falsabit manum perdat unde fecerit ; & nec argento , aut auro , vel ullo mode redimatur . Si Praepositus accusetur quod ejus licentia quis falsum fecerit , purget se triplici lada , quod si purgationem fregerit , inde judicium habeat quod qui falsum composuit . Leg. Canuti R. 30. p. 923. Quicunque falsam Monetam , se sciente fecerit , aut studiose expenderit , tanquam Maledictus , & Pauperum Oppressor , & Turbator Civitatis à Fidelium Consortio separetur . Concil . Roman . A. D. 1123. Monetam quoque corruptam & falsam sub tanta animadversione corrigi statuit , ut nullus qui posset deprehendi falsos denarios facere , aliqua redemptione , quin Oculos , & inferiores Corporis partes perderet , juvari valeret . Simeon Dunelm . A. 1108. Joh. Brompton ( p. 1000. ) places it in Anno 1103. and says they were to lose both their Eyes ; so does H. de Knyghton . 2377. D Chron. Saxon. An. 8125. Hoc anno , misit Rex ( Hen. I. ) ante Christi Festum , de Normannia in Anglorum Terram , & jussit omnes Monetarios qui erant in Anglia privari membris ; scilicet quemque dextra manu , & testiculis ; quod factum est quoniam qui habuit Libram non potuit ullam rem mercari uno istius denario , in quovis foro . Tunc Rogerus Episcopus Sarisburiensis misit per totam Angliam & jussit eos omnes interesse Wintoniae ad Christi Festum . Cum eo pervenissent , sevocati fuerunt sigillatim , & praecisa erat cuique dextra manus ac testiculi . Totum hoc factum est intra duodecim festi Natalium dies , & quidem jure Optimo , quippe damnum maximum intulissent toti genti tantam vim metalli vitiosi coemendo . E Matth. Paris . A. 1248. H. 3. Ipfis quoque diebus Moneta Angliae , per detestabiles Tonsores & Falsarios adeò intolerabiliter est corrupta , quod non Indigence vel etiam Alienigenae eam Oculo recto , vel illaeso corde poterant intueri . Circumcidebatur enim fere usque ad interiorem circulum , limbo litterato totaliter vel deleto , vel enormiter deturpato . Praeceptum est igitur voce Praeconid , in Civitatibus , Burgis , Nundinis & Foris , ex parte . D. Regis [ H. 3. ] nequis denarius nisi legitimi ponderis , & circularis forme acciperetur , nec quoque modo a vendente vel emente vel commutante acceptaretur , punirenturque hujusmodi praecepti transgressores ▪ adhibita est etiam diligentia , ut memorati falsarii invenirentur , ut de tanto scelere convicti , condignâ poena judicialiter punirentur . Facta igitur diligentissima inquisitione , inventi sunt in hoc facinore culpabiles Judaei , Caursini infames , & quidam Mercatores lanarum Flandrenses . Jussit etiam D. Rex Francorum omnes tales in Regno suo compertos patibulis laqueatos vento praesentari . There is something remarkable in this Passage , namely , that it was made Penal for any one to take or receive any Clip'd Money ; which , if we had observ'd some Years ago , we had not been in the deplorable condition we are now in , in that respect . F Hen. Knyghton . p. 2463. A. 1282. Ed. I. Rex tenuit Parliamentum suum Londoniis , & fecit mutare monetam Regni , quae illo tempore fuit viliter retonsa , & abbreviata , unde Populus Regni graviter conquerebatur & Rex veritatem inde inquirens , & veritatem comperiens , trecentos & plures , de illo delicto & felonia publicè convicit , quorum quidam fuerunt suspensi , quidam distracti & suspensi , secundum delicti qualitatem & quantitatem . Notes, typically marginal, from the original text Notes for div A39736-e350 Rerum Hispanic . Tom. III. pag. 957. 
A39901	----	A further attempt towards the reformation of the coin with expedients for preventing the stop of commerce during the re-coinage, and supplying the mint with a sufficient quantity of bullion ... / by R. Ford. Ford, R., fl. 1696. 1696 Approx. 42 KB of XML-encoded text transcribed from 13 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-10 (EEBO-TCP Phase 1). A39901 Wing F1471 ESTC R4545 12415514 ocm 12415514 61632 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A39901) Transcribed from: (Early English Books Online ; image set 61632) Images scanned from microfilm: (Early English books, 1641-1700 ; 277:2) A further attempt towards the reformation of the coin with expedients for preventing the stop of commerce during the re-coinage, and supplying the mint with a sufficient quantity of bullion ... / by R. Ford. Ford, R., fl. 1696. 24 p. Printed for Thomas Cockerill, Sen. & Jun. ..., London : 1696. Reproduction of original in Yale University Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. 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Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Money -- Great Britain. Coinage -- Great Britain. 2006-12 TCP Assigned for keying and markup 2006-12 Apex CoVantage Keyed and coded from ProQuest page images 2007-01 Jonathan Blaney Sampled and proofread 2007-01 Jonathan Blaney Text and markup reviewed and edited 2007-02 pfs Batch review (QC) and XML conversion A FURTHER ATTEMPT Towards the Reformation of the COIN . WITH Expedients for preventing the stop of Commerce during the Re-coinage . AND Supplying the Mint with a sufficient quantity of Bullion . Humbly offered to the Consideration of the King and Parliament , By R. Ford. LONDON : Printed for Thomas Cockerill Sen ' & Jun ' at the Three Leggs in the Poultry , 1696. A Further Attempt Towards the Reformation of the COIN , &c. INTRODUCTION . THough I may seem to incurr the Censure of Vanity and Ostentation , by pretending to advance any thing New , on a Theme that hath already employ'd so many able Pens : Yet on an Impartial Perusal of all that is extant on this Subject , I doubt not but there will be found such ample Scope for so many Considerable Alterations and Additions as will render this Further Attempt not only Excusable but Necessary : Great part of what hath been hitherto done of this Nature , not having been performed with that Candour and Impartiality , nor with all that Accuracy and Exactness as were to be wish'd , in an Affair of such grand Importance and Difficulty . And how Deficient soever I may be , as to the latter of these Qualifications , yet I dare assure my Readers , they shall not have any just Cause of Complaint of my Failure in the former and more Essential Point of an unbiassed Integrity . The Consciousness of which Sincerity of Intention , flatters me with some Hopes of these Endeavours meeting with a Favourable Reception ; wherein , if I should be deceived , yet should I be sensible of no other Displeasure thereat , than any Lover of his Country may be supposed to have , for the Miscarriage of a Design he conceives might conduce to the Promotion of the Publick Good. I shall not wast any Time in an unprofitable Inquiry into the several Means and Degrees whereby our Coin hath been reduced to its present ill Condition , but forthwith apply my self to the Search of the properest Methods of Restoring it unto a good one . The only effectual Expedient for which purpose , is agreed on all hands to be the Re-coining of all the old clipped and Counterfeit Coin , into good new and mill'd Money : So that there is an universal Consent , as to the Matter it self , that it is necessary to be done , but as to the Manner of performing it ; there are almost as many different Perswasions as Persons , out of which variety of Methods , to select those which seem most Rational and Practicable , is the Design and Scope of this Discourse , which shall consist of an Inquiry into the following Heads , which will comprehend all that is necessary to be said on this subject . viz. First , Whether it be most for the Interest of the Nation , to Reduce the price or value of an Ounce of Silver unto Sixty two Pence , or to advance it proportionable to the present Scarcity and Want thereof . Secondly , By whom shall the Loss that will ensue on the Re-coining the Clipp'd and Counterfeit Money be sustain'd . Thirdly , By what Means may the Mint be supplied with a sufficient Quantity of Silver Bullion , to make near as much good Money in Tale , as there is at this time of good and bad together . Fourthly , What Methods are proper to be insisted on , to prevent the stop of Commerce during the Re-coinage . The first , and indeed most material Point that offers it self to our Consideration , is the Value that ought to be fixed on the Ounce of Silver ; or whether it be more for the Publick Interest to have it reduced unto Sixty two Pence , or to have it advanced proportionable to the present Scarcity and Want thereof . The latter of which two Opinions , viz. That it is most for the Interest of the Nation to advance the Price of our Silver , seems most Rational in it self , and Beneficial to the Kingdom in its present Circumstances , and that for several Cogent , and ( if I mistake not ) unanswerable Reasons ; whereof the following are some of the principal , which when I can find satisfactorily answered , I ingage to change my Opinion ; until which be done , I hope those of the contrary Perswasion will alter theirs . These Reasons I shall dispose under two Heads . 1. I shall Enumerate some of the grand Inconveniencies that will attend the Non-advancement of Silver . 2. I shall represent some of the Advantages that will accrue to the Nation by raising the Price thereof . And To begin with an Enumeration of the Evil Consequences that will attend the low Valuation of Silver , some of the principal whereof are , 1. The Want of a sufficient Quantity of Money for Payment of the Taxes and Rents , and carrying on of the Trade of the Nation . Now if I can but prove , that such an Excessive Want and Scarcity of Money will be the certain and fatal Consequence of fixing so low a Rate on Silver . I think this single Consideration were sufficient to disswade the Practice of it . For certainly such a Method of regulating the Coin , as carries with it such fatal and pernicious Consequences , as the occasioning so great a Scarcity of Money , as to render us incapable of paying our Taxes and Rents , and Management of our Trades ; and that will Impoverish the Nation to that Degree , as to Incapacitate us for the Continuance of the War ; and thereby oblige us , and consequently the rest of Europe , to truckle to the Ambition and Power of France . I say , such a Method , that draws with it such Consequences as these , must be acknowledged of all hands , to be very unfit to be pursued . Now that the low Valuation of Silver would cause so great a Scarcity of Money , as would in a great measure produce such fatal Effects , may I conceive be evinced from the ensuing Considerations . 1. That the fixing a low Rate on Silver , will produce such an Excessive Scarcity of Money , may partly be evinced , if we consider , That what Silver shall be Recoin'd , together with what mill'd and unclipp'd Money is still remaining , will not go so far by near a Million of Pounds Sterling , if it be Re-coin'd at a low Rate , as it will if the Value be augmented ; which will be evident , if we compare what quantity of Money in Tale , may be Recoin'd out of the Clipp'd Money , reckoning the Silver at 62 Pence per Ounce , with the Quantity that may be made out of the same Silver , reckoned at a fourth part more , viz. at 6 s. 5 d. ½ per Ounce . There may be ( as is computed by the Judicious Mr. Lowndes ) about 5600000 l. of Sterling Money left in the Kingdom , whereof he supposes about 1600000 l. may be in mill'd and unclipp'd Money , and the other Four Millions in clipp'd Money ; which one with another ( as appears by several Bags weigh'd at the Exchequer ) is diminished full one half of its weight . So that the said four Millions , Re-coin'd according to the present Establishment , will not make above two Millions of mill'd Money , which , with the 1600000 l. supposed to be remaining in mill'd and unclipp'd Money , and making in all 3600000 l. will be all the Silver Money we are like to have in the Kingdom , in lieu of about eight Millions of good and bad Silver together , which are supposed to be now therein . Now he that can inform me , how we may be capable of paying every Year between five or six Millions of Pounds for defraying the Charge of the War , a great part of which Sum must also be transported for the use of the Land-Forces ; and how at the same time we may pay our Rents , and manage our Domestick and Forreign Trades , on account of which latter also there must be great Sums yearly transported , to make good the Ballance of what the Goods we Export fall short of those we Import . I say , He that can propose the means of performing all this out of 3600000 l. of Silver , and our small quantity of Gold Coin ( which by the way will be very inconsiderable , when it is fallen to the Rate these Gentlemen would have Silver fixed at , ) — erit mihi Magnus Apollo , I 'll erect Altars to his Praise , and Sacrifice to his Memory . But on the other hand , if Silver be advanced a fourth part , viz. from 5 s. 2 d. unto 6 s. 5 d. ½ per Ounce ( as it ought to be in proportion to the present Scarcity thereof , of which more in the sequel of this Discourse ) then the same quantity of Silver will furnish us with a fourth part more Money than it would if it were coin'd at the rate of the present Establishment . So that instead of but 3600000 l. we shall by this proposed Advancement of Silver , have 4500000 l. in the Nation , which is Nine hundred thousand Pounds more , and is no inconsiderable Addition to our Coin at such a Juncture as this . And besides this Augmentation of our Silver Coin , the Advancement of our Silver will raise our Gold proportionally full a fourth part : So that supposing there may be about two Millions of Pounds Sterling in all sorts of Gold Coins in the Nation ; which if Silver be raised to the proposed Value , will pass for a full fourth part , or 500000 l. more than they otherwise would : Which advance of the Gold , added to that of the Silver , demonstrates there will be 1400000 l. more in tale in the Kingdom , by the fixing a higher Rate on Silver , than there would be by setting a lower Valuation thereon . But before I can pass to the next Reason , to prove that such an excessive and fatal Want of Money , will be a consequence of reducing Silver to a low Value , I must obviate one grand Objection , which I foresee will be urged against what I have already advanced , and which is this . Object . That though it be granted , that the same quantity of Silver or Gold , will make more Money in Tale , by advancing the Value of the Bullion , than it will if debased to a lower value ; yet though the Money coin'd at such a low rate will not go so far in Tale , yet it will purchase as much Goods as if it did . The Real and Intrinsick , not the Nominal and Imaginary Value being that which is regarded by those who sell their Commodities . — To which I answer , That though it be in some measure true , that the Price of Goods bears some proportion to the Goodness or Badness of the Coin wherewith they are purchased . Yet is not this proportion so exact as fully to ballance them : For I dare undertake to purchase more Goods with a Coin in quantity of Silver coin'd into Money set at a pretty high rate , than with the same weight of Silver coin'd into Money , and fixed at a lower rate . For though indeed the Real and Intrinsick Value is principally regarded , yet not so , as totally to exclude all Consideration of the Extrinsick Value and Denomination that is put upon it ; to which also all Persons , especially the Subjects of the Prince , whose Money it is , bear some respect unto , and will accept it in Payment for something more than the bare Intrinsick Value : As will be further evident , if we consider , That though I think it s granted , that our Coin is , if taken altogether full 50 per Cent. or one half less worth at this time , than the first Intrinsick Value . And therefore that according to the rule of Goods rising or falling fully so much as to ballance the several degrees of the Goodness of Money , all our Inland and Foreign Commodities should have advanc'd full one half above their former Price , and the exchange for our Money have fallen one half from its former Rate . Neither of which we find to have happen'd , not even when our Money was reduc'd to its worst estate , and e're it was certain whether it would be reform'd or not . For if we examine the Price-current of all Commodities , 't will be found they are not advanc'd near 50 per Cent. one with another ; and so much as they are risen , is not only on account of the Badness of our Coin , but is in great measure occasioned by the extraordinary Demand there is for many of them both here and beyond-Sea ; and by the great difficulty and hazard of Importing them during the War. And then as to the course of Exchange , that also never fell so much from its former Rate , as our Money is from its former Intrinsick Value . For I think , when our Coin was in its perfection of Weight and Purity , the course of Exchange at Roterdam , Amsterdam , &c. seldom exceeded 37 Dutch Shillings for a Pound sterling . And when our Coin was debas'd to its worst estate , the Exchange at the same places was seldom lower than 26 or 27 of the same Shillings for a Pound sterling , which is not above 30 per Cent. difference from what it was when our Coin was in its best condition ; though ( as I said before ) our Money is become generally 50 per Cent. worse than its first Intrinsick Value . So that I think it 's evident , that neither do Goods advance , nor the Exchange sink so , as fully to ballance the Baseness and Lightness of our Coin. Whence it follows , that the same weight of Gold and Silver valu'd at a higher rate , will go further in purchasing Commodities , as well as in Tale , than the same weight , if a lower Value be fixed ; since our Clipt and Counterfeit Money buyes more Commodities of any sort in proportion to its real and intrinsick Value , than our Money , when in its best estate , ever did in proportion to the real and intrinsick Value thereof at that time . And therefore our quantity of Silver valued at 4500000 Pound , will go something farther in the purchase of even foreign Commodities , as well as in Tale , than the same quantity valued at but 3600000 Pound will do ; which was the Point I designed to prove . And if this hold in some measure even as to our Foreign Traffick , it 's much more certain , that with relation to our In-land Trade , the Advancement of the Price of Money will not only make it go further in Tale , but also in Purchase , and furnish us with a larger Stock to traffick with among our selves ; the extrinsick Value and Denomination of our Coin being regarded , as well as the real and intrinsick one in our Dealings one with another : so that the encrease of the Extrinsick Value or Denomination of our Money will cause it to go further in Payments , and purchase more Goods than it would otherwise do . And in every regulation of the Coin , there ought to be had an equal , if not superior regard to the Interests of our Domestick , as well as Foreign Commerce . For the service of which former , Money seems to have been principally intended , as being designed to answer such things as could not be easily reckon'd , or equally divided , and made to answer one another . But a due consideration of the Interest of our In-land Traffick in the Regulation of our Money , seems to be wholly neglected by the great Sticklers for a low Valuation of our Money , whose measures seem chiefly calculated for the Meridian of Forreign Trade , and their own particular Interests ; insomuch as I hope it will be judged no breach of Charity to conjecture , that the true Motive by which some of that Party are acted in this Affair , is , that many of them being Foreigners , and trading in Commodities coming from Holland , the Sound , Streights , &c. may , instead of making their Returns in Goods , remit our Money thither in Specie , by the extraordinary goodness whereof they propose to gain 20 or 25 per Cent. in the exchange ; which they know cannot be done , if our Money be fix'd at a pretty high rate . But tho' this may be true as to some of them , yet I doubt not but there are many Persons of the same opinion , whose Intentions are undoubtedly generous and honest , but have been wheedled by some designing self-interested Persons , to think and act otherwise in this Affair , than they would have done , if left to have pursu'd the Dictates of their own better and more impartial Judgments . Having , as I hope , sufficiently enervated the force of this grand Objection , in which I have been the more prolix , because it is one of the most plausible the Cause will afford ; I proceed to the mention of a Second Reason , to prove , That an excessive Scarcity of Money , will be a consequence of the Non-advancement of Silver : Which is , 2. That the Reduction of Silver to so low a Rate ; will not only prevent its going so far in Tale and Purchase , as it otherwise would ; but will also be such a great discouragement to the Importation of Gold and Silver into the Kingdom , and carrying of it into the Mint , as will thereby cut off all hopes of procuring Bullion to increase the Coin. I need not prove that Increase of our Money at a Juncture , when by Melting , Clipping , and other indirect means it is reduced to so small a Quantity , must be concluded to be for the Publick Good ; and consequently any Proposal that tends to deprive the Nation of such an Advantage , as the augmentation of our Coin is universally acknowledged to be , must necessarily be judged Repugnant to the publick Interest . And that a low Valuation of Silver tends to prevent the Increase of our Money , will be evident , if we consider , that no Persons will carry any Silver into the Mint at 5 s. 2 d. per Ounce , when besides that , it is likely they gave considerably more for it themselves . It will yield a better Price elsewhere . So that the fixing so low a state on Gold and Silver would be as effectual a Prohibition of the Importation of it into the Kingdom , and carrying of it unto the Mint , as any Law that could be Enacted for that purpose . A Third Reason to evince that such an excessive want of Money will ensue on the non advancement of Gold and Silver , is , That fixing so low a Value on Silver , will not only so discourage the Importation of it into the Kingdom , and carrying of it into the Mint , as will cut off all hopes of increasing the Quantity of our Coin , but also will be such a Temptation to persons to melt and Transport it , as will render it impossible for us to preserve even the little we shall have left , from being conveyed out of the Nation . So that supposing the Government should impose the hard terms of carrying in our Plate to be coined , at 1 s. or 1 s. 6 d. per Ounce less than it cost , and thereby the quantity of our Money should be for the present augmented . Nay , imagining we had double the Quantity of money that is possible for us to have : Yet if the Value were setled at the Rate of the present Establishment , or 5 s. 2 d. per Ounce , in the process of a few Years it would be insensibly melted and Transported , until there would not remain a sufficient Quantity for the supplying our most urgent Occasions , but the Nation would be involved in a greater Exigency and Distress than it ever did ( or I hope ever will ) Experience . Now , that what I have here urged is not a meer Scare-Crow to Terrifie Children and Fools withal , I Appeal to our own sad Experience , which never spake clearer in any Case than it doth in this . Doth not this Inform us in General , that though there should be Enacted the Severest Laws , back'd with the Execution of the most Rigorous Penalties , against the Commission of a Crime , by which there is a prospect of certain Gain , yet that there will never be wanting Persons who for the sake thereof will hazard the enduring the greatest Punishments . And doth not Experience further teach us in general , that few Laws are obeyed , the Violation whereof is more gainful than the Observation , and where the Profit of breaking them is great and certain , but the Penalty dubious , or easily avoidable ? But doth not even our own present Experience furnish us with pregnant Instances in relation to this particular Subject of the Coin , since of above Fifteen Millions of Silver Money , which as appears by the Register of the Mint , have been coined since the time of King Henry the Eighth , not above one Third part are computed to be remaining in Specie , but all the rest either melted down , or Transported ? So that we may rationally judge of the future by what is already past . Nay , rather we may conclude that Silver and Gold being scarcer and dearer now on many Accounts than for several Years past , should they be setled at so low a Rate , the Encouragement to melt and Transport it being greater than ever , their Industry therein would consequently be more than ordinary ; for we have no reason to imagine that when the Reason and Temptation of doing it will be so much augmented , that their Diligence will be lessened . For if Persons will not stick at the commission of a Crime for the obtaining of a less Advantage , they will not scruple it for the procuring of a greater . And this Reason will appear yet more unanswerable , if besides the Clandestine and Illegal conveying the Silver out of the Land , which I have proved will be an inevitable Consequence of the Scarcity and Goodness of our Money , there will also thereby ensue this further Inconvenience , viz. That our Neighbours supplying us with more Goods than we do them , we thereby become their Debtors , and consequently must pay what we owe them in such as they will please to accept ; and we may be certain they will choose to have their Returns in that whereby they shall gain most . So that if our Silver be reduced to a low value , they will choose to have their Returns in as much of it as they can , whereby we shall be at length so drain'd of our Money , as to be reduced to such a Scarcity and want of Money , as I affirmed ▪ and I think , have proved , will be the consequence of the non-advancement of Silver , and the cause of such a Poverty as will disable us to pay our Taxes and Rents , and manage our Trades . Which though it be but a single Instance of the Mischievous Effects of setting a low Valuation on Silver , yet is one of so black and extensive a Nature , and draws such a Numerous and Dismal Train of Ill Consequences along with it , as will spare me the Labour of adding much more to prove the Disadvantage of such a Practice . However I shall mention a second grand Inconvenience that will attend the non-advancement of Silver , viz. That the making our Money of a great Weight and a low Value , will mightily obstruct the Sale of our Manufactures and In-land Commodities , both to our Neighbours abroad , and amongst our selves at home . For as to our Neighbours , if our Money be made of so extraordinary Goodness , they will ( as I said before ) choose to have their Returns made in that , and in as few of our Goods as possible . Which will cause our Commodities to fall very much on our hands for want of Buyers . In the mean time our Neighbours taking as much Money , and as few Goods from us as possible , will thereby ( together with the concurrence of some other causes mentioned in the foregoing Head ) occasion such a want of Money , as will mightily obstruct the Vent of our In-land Commodities , even among our selves , and so very much prejudice our Domestick as well as Foreign Commerce . For a great scarcity of Money will oblige Persons to retrench their usual Expences , and employ their Money in such things only as are of pure Necessity . So that most of the Trades that subsist by furnishing things for the Pleasure and Ornament of Humane Life ( of which kind the Greater part of the Trades of the Nations subsist ) must necessarily droop and decline ; for Persons not having Money sufficient to gratifie both their Necessities and their Pleasures , will be obliged to baulk the latter to serve the former , or at least to disappoint one of the two ; and then amongst other Commodities , that will fall so much by reason of the Scarcity of Money . We may be certain that Corn , Cattel , and the other Products of Land will bear a Proportion ; And if a Tenant cannot make so much of the Product of his Farm , as he used to do , then it will be impossible for him to pay his Landlord the usual Rent : So that all the Lands and Tenements must of necessity sink , considerably below their present yearly Rents : Which will not be the only Diskindness that this hopeful Project , of Reducing the Silver to so low a Rate as 5 s. 2 d. per Ounce , ( if it succeed ) will procure to the Gentlemens and Landlords Estates in England . For this low Rate of Silver causing a Scarcity of Money , and this Scarcity of Money naturally causing the Advancement of the Interest thereof , to perhaps double the present Rate , and the Advancement of the Interest of Money will certainly lower the Purchase of Lands by several Years ; for that when the Increase of Money was high , Lands yielded but a few Years Purchase . But on the contrary , When the Interest of Money was lowest , then Lands sold for the most Years Purchase ; as will be evident , if we compare the Purchase of Lands in King Henry the Eighth's Time , when Interest of Money was at 12 or 14 l. per Cent. per Annum , with the Purchase of the same Lands now , when Interest is not above a third part of what it was at that time : It being always observed , That as the Price of Money was advanced , and thereby the Species increased , that the Interest thereof fell and grew less ; and according as the Interest of Money fell , so Land advanced several years Purchase ; as will be manifest , if we observe how much the Land of England hath been improved since the aforesaid time of King Henry the Eighth , when Interest of Money was so very high . So that upon the whole , we may see how much the Gentlemen and Landlords of England are obliged to these Persons , for proposing such a Method of Regulating the Coin , that will not only , by introducing a Scarcity of Money , cause all the Products , and consequently the yearly Rents of Lands , to fall considerably ; but also advance the Interest of Money , and thereby lower the Purchase of Lands by several years . And I conceive I have by this time so throughly represented the fatal Consequences that will ensue on the fixing Silver at a low Rate , that the Impartial Reader by this time cannot but be sensible , how destructive that course would be to the Publick Good. I should now ( as I proposed ) enforce my Reasons for advancing the Price of Silver , by representing the Advantages that would accrue to the Nation by doing thereof . But these being in some measure handled under the former Head , when I enumerated the ill Consequences of the contrary course . And these Advantages of raising Silver , being but , as it were , the Reverse of , and directly opposite unto the Disadvantages of fixing a low Value thereon . The good Effects of the one , are best seen by opposing them to the bad ones of the other Method , which I shall do very briefly , if the setting a low Valuation on Silver will cause , that it will pass but a little way in Payments , the contrary method will make it go as far as possible . If the former be such a Discouragement to the bringing in of Silver to be coin'd , as cuts off all hopes of increasing the Quantity of our Money , the latter affords all imaginable Incouragement both to the Importation of it into the Kingdom , and to the carrying it into the Mint to be coin'd : By which means we may hope to have as great a Plenty of good Money , as ever was yet in the Nation . Again , If the setting too low a Valuation on Silver , be a Temptation to convey it out of the Kingdom , the fixing a high Rate thereon , will be a means of preserving the Coin intire and unmelted : And if the low Rate of Silver will obstruct the Exportation of our Commodities , because our Neighbours will choose our Money before our Goods : On the contrary , The advancing Silver to a pretty high Rate , will induce them to choose our Commodities rather than our Money , and thereby incourage our Trade and Manufactures , and preserve our Money in the Kingdom to manage our Inland Trade . In short , If the low Rate of Silver will cause such a Scarcity of Money , as will oblige Persons to retrench their usual pleasurable Expences , and thereby occasion the Decay of a great many Trades depending thereon ; but the setting a high Price on Silver , thereby causing a Plenty thereof in the Nation , will enable Persons to spend freely to the Advantage of Trade . Again , If the one will produce such a Scarcity of Silver , as will cause all Commodities , and among the rest , all the Products of Land to fall considerably , and consequently all Lands to sink something in their yearly Rent . The other , on the contrary , by advancing Silver , would keep Commodities up at such a tolerable Price , as would preserve the present yearly Rent of Land. Finally , If fixing Silver at a low Rate , will cause such a Scarcity , as must of necessity advance the Interest of Money , and thereby cause Land to fall several years Purchase . On the contrary , The Advancement of Silver , causing , as I have proved , a Plenty of Money , which Plenty must consequently lower the Interest thereof . And the Lessening of the Interest of Money , will , as Experience evinces , advance Land several years Purchase . Having , as I Hope , sufficiently evinced the Necessity and Advantage of raising the Price of Silver , I come now to fix the particular Rate , to which I humbly conceive it is requisite to be advanced , which , with the Judicious Mr. Lowndes ( who seems to have understood this matter better than most who have treated of it besides ) I judge to be one fourth part above the present Establishment ; so that the Ounce of Silver must consequently be raised from 5 s. 2 d. unto 6 s. 5 d. ½ per Ounce , which may be done two ways , either by Retaining of the same Weight and Fineness as before , with the addition of a fourth part of Extrinsick Value ; and so every mill'd Crown must be ordered to pass at 6 s. 3 d. and the other pieces proportionable . The other Method of advancing the Silver , is by Coining it of a less weight than before , but still affixing the same Value ; by which Regulation , the Standard of one of the new Crown pieces to pass at 5 s. will consist of 15 penny-weights and an half within an inconsiderable Fraction , and the other Pieces proportionable . Both which methods come to one and the same effect ; only if it shall be thought fit to make use of the latter method of diminishing the weight , but retaining the extrinsick value . Then the better to make the New Crowns answer to such as shall be left of the old Establishment , it will be requisite that besides Half Crowns , there should be also Coined Quarter Crowns , or pieces of 15 d. one whereof added to a New Crown , will make it exactly answer the Old Mill'd Crown pieces that shall remain of the former Standard . This Rate setled on our Silver Coins , will soon reduce our Gold to the same proportion , according to which a Guinea is worth 25 s. at which rate I humbly conceive it is for the Publick Interest to have them fix'd by Authority . And moreover to prevent the extraordinary Loss that will fall so heavy on some particular persons by their falling 5 s. per piece , viz. from 30 s. unto 25 s. at one instant , as they are like to do if left to take their course ; I judge it would prevent that Inconvenience , if the Loss that will ensue upon them , be equally born by the Nation , which may be effected by Ordering them to fall 6 d per piece ever month for the first six months next ensuing the date of an Order to be publish'd for that effect ; and to fall 4 d. per piece every month for the next six months , to commence from the Expiration of the first six months ; and all Persons shall be commanded to take them at the Rates they shall be currant in each respective month , under the Penalty of forfeiting the value of the money they shall so refuse : And all other Gold Coins to fall by the same proportion . Whereby in 12 months time we should have our Gold Coin reduced to their true value , with a Trouble and Loss , that being thus divided among the Nation in general , would be very inconsiderable , and almost insensible . But were it to be born by each particular person , would very much impoverish some Families , whilst the rest escape Scot-free ; for all persons that shall be thus obliged to take Guinea's for their Goods , would reimburse themselves in some measure by making a better price of their Commodities , and be likewise in hopes of paying their Guinea's away again before a month is expired : So as I am perswaded that such an Ordinance would be received with almost an Universal Satisfaction . Thus have I gone through the First and indeed Principal Point I intended in this Discourse , and therefore shall be more brief in what remains . The Second General Head I proposed to enquire into , is , By whom shall the Loss that will ensue on the Re-coining the Clipt and Counterfeit Money be sustained ? Unto that part of the Query that relates to the Clipt Silver Money , the Resolution of Parliament , That the Loss thereof shall be made good by the Publick , is a sufficient Reply . But it being yet undetermined , By whom the Loss occasion'd by the Counterseit Money should be sustained ; I hope I may be permitted to communicate my Opinion : Which is , That the Loss thereof be born , one part by the Publick , and the other by the several Proprietors , in the sollowing Proportion , viz. That for all such Counterfeit-Money as hath any Mixture or Incorporation of Silver in it , and is not intirely Brass , Copper , Iron , or some such Metal , the Owner shall , upon their carrying it into the Mint , be allowed for so much as the said Money shall weigh , after the rate of 5 s. per Ounce , Troy-weight , to be paid them , partly out of such Silver as shall be found in the said Money that is Carried in , after the Melting and Separation thereof , and the residue out of such a Tax as the Parliament shall think fit to lay for that purpose . Until which Money can be rais'd , they shall have Notes given them , entitling themselves or the Bearers thereof unto so much Sterling Money as the said Counterfeit-Money they carried in amounted unto by weight , at 5 s. per Ounce , to be paid as before , and to have an Allowance of 5 per Cent. per Ann. for the said Value of their Counterfeit-Money , until the time of Payment . By which Method the Poorer sort of People , in whose hands great part of the Bad Money is lodg'd , would be extremely eas'd , and with no great burden to the Nation . For supposing there should be about 2500000 l. Bad Money in the Kingdom , whereof we may suppose at least 500000 l. entirely Brass , Copper , &c. which Loss is to fall wholly on the Proprietors . And the Two Millions that may be suppos'd to be Mix'd Metal , would hardly weigh One Million ; the Bad Money being generally less and lighter than the Clipp'd Silver . So that the Loss of another Million at least will by the lightness of the Money fall also on the Proprietor . So that the Publick will only have the Loss of about a Million of Pounds Sterling in weight , or about Four Millions of Ounces of mix'd and course Silver to make good : which said Metal may one with another be worth about 3 s. an Ounce , according to the advanc'd Price of Silver . So that the Loss on the part of the Publick would not exceed 4 or 500000 l. which yet would be a great Ease to the Poor , who must otherwise be oblig'd to dispose of their Bad Money at unreasonable low rates to the Goldsmiths , or others that will buy it of them . And I think there can be hardly be any good reason given wherefore the Publick should sustain the loss of the Clipt Silver : which will not be of equal force to prove that the Nation is as much obliged to sustain at least some part of the loss of the Counterfeit Money . Which shall suffice for an Answer to the Second General Enquiry , By whom the loss of the Clipt and Counterfeit Money ought to be sustain'd . The Third Head I propos'd to enquire into , is , By what means may the Mint be supplied with a sufficient quantity of Bullion , to make near as much good Money in Tale , as there is at this time of Good and Bad together ? To which I answer briefly in general , That the only effectual means of accomplishing this , is what I have already so strongly urg'd , viz. the Advancement of the Price of Silver , which will be the only Encouragement to the Importation of Silver into the Kingdom , and carrying of it into the Mint . But to propose some more particular Means of effecting this , I would humbly advize , That all the Gold and Silver Plate throughout the Kingdom ( excepting such Quantities and sorts of each as shall be judg'd fit to be reserved according to Persons several Degrees and Estates , be order'd to be brought into the Mint , and coin'd into Money at the rate of 6 s. 5 d. ½ . per Ounce , answerable to the other Silver ; whereby , notwithstanding the Reservation of such a certain Quantity as should be judg'd fit , there would be near Two Millions of good Sterling Mnney added to the Coin of the Nation , without oppressing any particular Persons , who can have no cause of Complaint , when they are allow'd so good a Price for their Plate : Which will be more beneficial to the Owners , as well as the Publick , after it is coin'd into Money , than it was before , when it serv'd more for Ostentation , than for Use . I am come at length to the Fourth and Last General Head of Enquiry , viz. What Methods are proper to be made use of to prevent the stop of Commerce , during the Re-coinage ? To which I will make as brief and satisfactory an Answer as I can in the following Particulars . 1. That it will be requisite that all the Mill'd and Unclipt Money that is remaining , be immediately order'd to pass , the Crown-piece at 6 s. 3 d. and the other Pieces proportionably , the propos'd Advancement of Silver one fourth part above the present Value . 2. That the Price of Guinea's ought to be fix'd , and they ordered to fall gradually so much per Mensem , as was before proposed , that Persons may not , by the uncertainty of their Price , be deterred from accepting them in Payment . 3. That the clipp'd Silver shall be carried in to be Recoined ; There shall be Notes , given out , intituling the Bearer , to the Value of so much clipp'd Silver as he carried in , to be paid in mill'd Money as soon as coin'd , with Interest at 5 per Cent. per Annum , until the respective Bills shall come to their course of being paid . And these Notes shall be order'd to pass in Payments as Money , and made transferrable from one Person to another , the Bearer being entituled to the Receipt of the Money when it ' comes due . And these Notes , by reason of the 5 per Cent. annex'd to them , will be judg'd preferable to any Goldsmith's or Bank Bills ; which , together with the remainder of the mill'd and unclipt Money , which upon the Advancement of the Value would presently come abroad ; and will with the assistance of the Gold , so well supply the place of our Clipt and Counterfeit Money , that we need not apprehend any considerable Stop of Commerce during the Re-coinage . Thus have I , with what Brevity and Perspicuity I could , communicated my Thoughts on these Four Important Points , which , I think , do include all that is most material to be said in relation to the Reformation of the Coin. FINIS . 
A44740	----	A letter to a member of Parliament for settling guineas G. H. 1696 Approx. 4 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2008-09 (EEBO-TCP Phase 1). A44740 Wing H31 ESTC R40534 19348460 ocm 19348460 108756 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A44740) Transcribed from: (Early English Books Online ; image set 108756) Images scanned from microfilm: (Early English books, 1641-1700 ; 1672:2) A letter to a member of Parliament for settling guineas G. H. 1 broadside. s.n., [London? : 1696] Signed at end: G.H. Answer to: Guineas at 21s. 6d. will make money plenty (1696). Place and date of publication suggested by Wing. Reproduction of original in the Goldsmith's Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). 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Keying and markup guidelines are available at the Text Creation Partnership web site . eng Guineas at 21s. 6d. will make money plenty. Finance, Public -- Great Britain -- 1688-1815. Guinea (Coin) Coinage -- England. 2007-01 TCP Assigned for keying and markup 2007-01 Aptara Keyed and coded from ProQuest page images 2007-02 Pip Willcox Sampled and proofread 2007-02 Pip Willcox Text and markup reviewed and edited 2008-02 pfs Batch review (QC) and XML conversion A LETTER to a Member of PARLIAMENT for Settling GUINEAS . SIR , I Have Perused the Paper you sent me , Entituled , Guineas at 21 s. 6 d. will make Money Plenty — The People will bear it , &c. And I believe it was Writ by One whose private Interest it is to have them so : He endeavours to answer three Objections . 1. The People will not bear it . 2. It will be carried all away . 3. Not Lent to the KING . TO the 1 st . he says , The People will bear it ; and so say I : They must , if compell'd , whether Willing or no : If it will not breed Discontentments , and Heart-Burning , 't is Well . For People to lose so Prodigiously by them 't is very Hard. The Gentleman says , Not One in a Thousand will be any great Sufferer , throughout the Kingdom : And yet ( within three or four Lines afterwards ) he says , He much pitys the Tradesmen , Farmers , and Tenants , both in City and Country : Not Considering they make above three Parts of the Whole of the Kingdom . I know People are for a Settlement what they shall go for , but not for such a One. This I know , When News came from the House , that it was carryed in the Committee at 25 s. I never saw so much Joy and Satisfaction among all People , in the City and Suburbs in my Life , before the other News came that it was thrown out again ; and then they were as Dejected . I verily believe , That if they were settled thereabouts for some time , to the next Sessions of Parliament , or a Year , &c. the Taxes would be speedily and cheerfully Paid , and Trading as quick as for Twenty Years last past : 'T is not amiss to give the People as much Satisfaction and Ease as Possible , under Great Taxes and Dead Trade : And , if the King take them at 25 , or 26 , and the Deficiency made up by a Tax next Sessions , or otherwise , I Humbly Conceive , it would Content the People better than to lose so much now at once . Secondly , He says , It will not be carried away . I Answer , It will , if Interest will do it ; and 't is Cheaper to carry it to Holland in Specie , than to Remit it thither by Exchange ; ●●nd Guineas too is Cheaper to be carried thither at 24 , or 25 s. than to Remit Money . Thirdly , It will be Lent to the KING . And be better for his Majesty by a fifth Part of all the Supplies given him ; and will go a fifth Part farther , I Answer , If it be so , then it is 20 per Cent Gain to to the Government , and loss to the Subject ; 't is well if People are so Satisfied — I Submit the Whole to Your Judgment : But 't is my Opinion there is a Necessity they be Settled now , or else declare by a Vote , You will not this Sessions meddle with them more , then they will go for about 24 , or 25 s. but at present all Trade stands still almost ; and will do till one of these two be done . G. H. 
A46206	----	Whereas wee are informed, that divers merchants, strangers, & others, have lately brought into this kingdom several peices [sic] of Dutch coyne, commonly known by the name of new lyon dollars, stamped with a lyon rampant on the one side ... by the Lord Lieutenant and Council, Essex. Ireland. Lord Lieutenant (1672-1677 : Essex) 1677 Approx. 4 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-10 (EEBO-TCP Phase 1). A46206 Wing I973_VARIANT ESTC R36961 16164474 ocm 16164474 104952 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A46206) Transcribed from: (Early English Books Online ; image set 104952) Images scanned from microfilm: (Early English books, 1641-1700 ; 1595:70) Whereas wee are informed, that divers merchants, strangers, & others, have lately brought into this kingdom several peices [sic] of Dutch coyne, commonly known by the name of new lyon dollars, stamped with a lyon rampant on the one side ... by the Lord Lieutenant and Council, Essex. Ireland. Lord Lieutenant (1672-1677 : Essex) Essex, Arthur Capel, Earl of, 1631-1683. 1 broadside. Printed by Benjamin Tooke ... and are to be sold by Joseph Wilde ..., Dublin : 1677. Title from first 6 lines of text. Statement of responsibility transposed from head of title. "Given at the Council chamber in Dublin, the 9th. day of April 1677." Reproduction of original in the Society of Antiquaries Library, London. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Ireland. Ireland -- History -- 1649-1775. Ireland -- Politics and government -- 17th century. 2006-11 TCP Assigned for keying and markup 2006-11 Aptara Keyed and coded from ProQuest page images 2006-12 Jason Colman Sampled and proofread 2006-12 Jason Colman Text and markup reviewed and edited 2007-02 pfs Batch review (QC) and XML conversion BY THE Lord Lieutenant AND COUNCIL . ESSEX . WHEREAS Wee are informed , that divers Merchants , Strangers , & others , have lately brought into this Kingdom several Peices of Dutch Coyne , commonly known by the name of New Lyon Dollars , stamped with a Lyon Rampant on the one side , and a man with an Eschutchion ●overing his lower parts , and a Lyon charged in it on the other side , Coyned in the years 1674 , 1675 , or 1676 , with this Motto Confidens Domino non movetur , and the year of our Lord in the same round with the Motto over the head of the Lyon , and that they by themselves , their Agents or Factors , have dispersed and uttered the same in paiment amongst His Majesties Subjects at the rate of four shillings nine pence per Peice , as moneys allowed to be Issued in trade and Commerce . And whereas we have caused some of the said Peices to be tryed and Essayed by the Essay Master of this City , and do find , that the said Peices are worse than his Majesties Standard of England , by two Ounces 5 peny . weight upon the pound weight . And that these new Dollars are intrinsically worth no more than three shillings four pence one farthing sterling , and ( in proportion to the spanish mony commonly current here ) worth three shillings nine pence . And whereas none of the said Peices , nor any of that kind and Species have been at any time allowed by his Majestie , or by Proclamation from us the Lord Lieutenant , or any his Majesties Former Cheif Governors and Council of this Kingdom , to pass as current mony within this Realm , and yet are commonly paid off ( as we are informed , ) at the rate aforesaid . Now we the Lord Lieutenant and Council duly weighing the premisses , and the many inconveniencies which by such fraudulent Practices may befall his Majesties good subjects , if not timely prevented , have thought fit to publish and make known the same by this our Proclamation , and hereby to Caution and advise , that none of the Officers or Ministers of his Majesties Revenue , or any other person or persons of what nature , quality or condition soever he be , is or are by any Law required or inforced to take or receive any of the said Peices , commonly called New Lyon Dollars stamped in manner as aforesaid in any payment or payments whatsoever , and hereof we require all manner of persons , who are or shall be therein any wise concerned , to take special notice at their Perills . Given at the Council Chamber in Dublin , the 9th . day of April 1677. Ja : Armachanus . Lanesborough . Hen : Midensis . Ca : Dillon . Char : Meredith . J : Povey . Ro : Booth . Abrah : Yarner . Ja : Cuffe . Tho : Newcomen . God Save the King. DUBLIN Printed by Benjamin Tooke Printer to the King 's Most Excelent Majestie and are to be sold by Joseph Wilde Book-seller in Castle-Street . 1677. 
A46546	----	A proclamation discharging forraign copper-coyn to be imported or made use of in this kingdom England and Wales. Sovereign (1685-1688 : James II) 1686 Approx. 3 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-03 (EEBO-TCP Phase 1). A46546 Wing J326A ESTC R18841 12350395 ocm 12350395 59965 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A46546) Transcribed from: (Early English Books Online ; image set 59965) Images scanned from microfilm: (Early English books, 1641-1700 ; 869:26) A proclamation discharging forraign copper-coyn to be imported or made use of in this kingdom England and Wales. Sovereign (1685-1688 : James II) James II, King of England, 1633-1701. 1 sheet ([1] p.) Printed by the heir of Andrew Anderson ..., Edinburgh : 1686. Reproduction of original in Huntington Library. Broadside. Additional imprint statement: This may be Reprinted at London, R.L.S. May the 28th. 1686. By E. Mallet. At end of text: Given under our signet at Edinburgh, the twentieth day of May, one thousand six hundred eighty six years. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Great Britain -- Early works to 1800. Broadsides 2007-11 TCP Assigned for keying and markup 2008-01 SPi Global Keyed and coded from ProQuest page images 2008-03 Mona Logarbo Sampled and proofread 2008-03 Mona Logarbo Text and markup reviewed and edited 2008-09 pfs Batch review (QC) and XML conversion A PROCLAMATION I 2R DIEV ET MON DROIT HONI SOIT QVI MAL Y PENSE royal blazon or coat of arms Discharging Forraign Copper-Coyn to be Imported or made use of in this Kingdom . JAMES by the Grace of GOD , King of Great-Britain , France and Ireland , Defender of the Faith ; To Our Lyon King at Arms , and his Brethren Heraulds , Macers of Our Privy Council , Pursevants , Messengers at Arms , Our Sheriffs in that part conjunctly and severally , specially constitute , Greeting : Forasmuch as We Understanding that there are Copper-Coyn , Imported from Abroad , and passing in this Our Kingdom , which is a great abuse to the Nation , and prejudice to Our Mint : We therefore , with Advice of Our Privy Council , for preventing thereof , Do hereby strictly Prohibit and Discharge , all Merchants , Skippers , Marriners and others , To Import into this Kingdom , after Publication hereof , any Doyts , or other Copper-Coyn , from France , Holland , or any place from Abroad , under the pain of , Consiscation thereof , the one half to Our Use , and the other half to the Discoverer , or Informer , besides what other Punishment We , or Our Council shall think fit to inflict upon the Contraveeners . And further , We Do hereby Prohibit and Discharge the foresaid Doyts , or other Copper-Coyn , from France , or Holland , or any Copper-Coyn , but what is under Our Royal Stamp , to pass within this Kingdom hereafter , or any of Our Subjects to receive the same as Coyn , as they will be answerable : And hereby Authorize , and Require all Customers , Waiters , Collectors and others , To seize upon , and appropriat to their own use , any of the said Forraign Copper-Coyn , where ever they can find , or discover the same ; Requiring all Magistrates , Officers and Souldiers of Our Forces , to be concurring and assisting hereto , when required , as they will answer at their Perril ; And to the end Our Pleasure in the Premisses may be made Notour and Known ; Our Will is , and We Charge you strictly , and Command , That incontinent , These Our Letters seen , ye pass to the Mercat-Cross of Edinburgh , and other places needful , and there , in Our Royal Name and Authority , by open Proclamation , make Publication of the Premisses , that none pretend ignorance . Given under Our Signet at Edinburg , the Twentieth Day of May , One Thousand Six Hundred Eighty Six Years . And of Our Reign the Second Year . Per Actum Dominorum Secreti Concilij . WILL. PATERSON , Cls. Sti. Concilij . GOD Save the KING , Edinburgh , Printed by the Heir of Andrew Anderson , Printer to His Most Sacred Majesty , Anno. Dom. 1686. This may be Reprinted at London , R. L. S. May the 28 th . 1686. By E. Mallet , next Door to Mr. Shipton's Coffee-House , near Fleet-Bridge . 
A46637	----	An explanation of the proposal lately given in to the Honourable House of Commons, signed William James. It is humbly proposed that guineas, and all other gold coins now currant, be brought into the Exchequer ... James, William, fl. 1689-1695. 1696 Approx. 5 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-03 (EEBO-TCP Phase 1). A46637 Wing J440 ESTC R216478 99828209 99828209 32636 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A46637) Transcribed from: (Early English Books Online ; image set 32636) Images scanned from microfilm: (Early English books, 1641-1700 ; 1926:28) An explanation of the proposal lately given in to the Honourable House of Commons, signed William James. It is humbly proposed that guineas, and all other gold coins now currant, be brought into the Exchequer ... James, William, fl. 1689-1695. 1 sheet ([1] p.) s.n., [London? : 1696] Attributed to William James himself by Wing. Title includes opening words of text. Date and place of publication from Wing. Endorsed on verso: Coin and Supply. Reproduction of the original in the Goldsmith's Company Library, University of London. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England -- Early works to 1800. Money supply -- England -- Early works to 1800. Bank notes -- England -- Early works to 1800. 2007-11 TCP Assigned for keying and markup 2008-01 SPi Global Keyed and coded from ProQuest page images 2008-03 Mona Logarbo Sampled and proofread 2008-03 Mona Logarbo Text and markup reviewed and edited 2008-09 pfs Batch review (QC) and XML conversion An EXPLANATION of the Proposal lately given in to the Honourable House of Commons , signsed William James . It is humbly proposed that Guineas , and all other Gold Coins now currant , be brought into the Exchequer , or other Places as shall be appointed by a prefixt time ; the Guineas at 30 sh . a piece , and all other Gold proportionably ; and at the same time to be set at 22 sh . or lower , as the House shall think sit . And for every Hundred Guineas brought into the Exchequer , or other Places appointed , the Party who brings in the Hundred Guineas shall then receive Fifty Guineas back at 22 sh . &c. and a Tally or Bill for a Hundred Pound Silver , and so in proportion for a greater or lesser Sum , which Tally or Bill shall be sunk by Five Pound per Cent. per. Ann. till the whole Hundred Pound Tally or Bill be discharged : And in case of failure in not paying the Five Pound per Cent. due on the said Tally or Bill at the time prefixt , the said Tally or Bill to be void . But on the payment of the Money Yearly due by the said Tally or Bill , a new Tally or Bill shall be given for the remaining Sum till the whole be discharged ; and these Tallies or Bills to be currant in all payments to both King and People . That all the clipp'd Money good and bad be brought into the Exchequer or other Places as shall be appointed ; and for every Hundred Pound , or more or less Sum brought in , the Party brioging it in shall receive the Moiety of new coined Silver or Gold , as setled above ; and , at the same time , a Tally or Bill for the other Moiety , which shall be sunk by Five Pound per Cent. per Ann. paid as above , &c. till the whole Tally or Bill be discharged . Now when the new Silver Money is coined at the old Standard , as the House have already resolved ; then the Guineas will not be worth full 22 sh . So that whoever brings into the Exchequer or other Place appointed , a Hundred Guineas , will save Eight Shillings or more in each Guinea . And whoever brings in a Hundred Pound in base Money , and receives Fifty Pound in Gold or good Silver , as here proposed , receives much more than the intrinsick Value he brings in . And whoever brings in a Hundred Pound in close clipp'd good Money , and receives Fifty Pounds in Gold or good Silver , receives the full Value of what he brings , besides his Tally , or Bill for the other half . And this Loss falls upon the King. So that to repair this Loss , the 5 l. per Cent. per Annum , is paid into the Exchequer to reimburse the King ; and if that be thought too much the Parliament may set it lower , and bring it as near a Ballance as they please . And it is much more reasonable , this Disease that has been upwards of twenty Years growing , and is now become almost insupportable , and will in a very little time stop all Commerce , should be cured by a twenty Years remedy , which will be less felt , than that the Nation should now ( when there is at least six Millions to be raised to carry on the War , &c. ) bear this burthen all at once . To reduce this into Practice . A Proclamation be set out for all Persons on a certain Day to bring their Gold and Silver to be exchanged , to Persons appointed in every Parish for that purpose . The whole Work may be done in two or three days . The Gold paying for the Silver as far as it will go , and Notes given for the Overplus , to be turned into Tallies or Bills in a very short time after . To prevent the Counterfeiting of Tallies , it is propofed , That a piece of feal'd or stampt Parchment go along with every Tally or Bill , which upon every transfer , each Person sets his Name and Place of Abode . If it be thought , That these Tallies or Bills be thrust upon the King and People in payments , and so in the mean while all the Coin will be carried out of the Kingdom ; it may be provided in all payments where Tallies are given , there shall be the like Sum paid in Money . If this Proposal be rejected , it may be considered what an intollerable Loss will follow by the fall of the Gold , and the Loss by the much clipt good Money , and the base Money , which cannot be computed to so little as three Millions ; but if it be accepted , it immediately revives Commerce , increases the Cash of the Nation , fettles the minds of the People , that are now in a great Ferment , which is like to be greater if not speedily prevented . All which is humbly submitted to the Wisdom of the Honourable House of Commons . 
A49332	----	A further essay for the amendment of the gold and silver coins. With the opinion of Mr. Gerrard de Malynes, who was an eminent merchant in the reign of Queen Elizabeth, concerning the standard of England. Lowndes, William, 1652-1724. 1695 Approx. 19 KB of XML-encoded text transcribed from 10 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2003-01 (EEBO-TCP Phase 1). A49332 Wing L3322 ESTC R221368 99832687 99832687 37161 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A49332) Transcribed from: (Early English Books Online ; image set 37161) Images scanned from microfilm: (Early English books, 1641-1700 ; 1781:21) A further essay for the amendment of the gold and silver coins. With the opinion of Mr. Gerrard de Malynes, who was an eminent merchant in the reign of Queen Elizabeth, concerning the standard of England. Lowndes, William, 1652-1724. [2], 17, [1] p. printed by T. Hodgkin, and sold by Richard Baldwin, near the Oxford-Arms in Warwick-Lane, London : 1695. Signed at end: W.L. = William Lowndes. Running title reads: A further essay on gold and silver coins. Reproduction of original in the University of Illinois (Urbana-Champaign Campus). Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England -- Early works to 1800. Money -- Early works to 1800. 2002-02 TCP Assigned for keying and markup 2002-03 Aptara Keyed and coded from ProQuest page images 2002-04 TCP Staff (Oxford) Sampled and proofread 2002-04 Emma (Leeson) Huber Text and markup reviewed and edited 2002-05 pfs Batch review (QC) and XML conversion A Further ESSAY FOR THE AMENDMENT OF THE Gold and Silver COINS . WITH THE Opinion of Mr. Gerrard de Malynes , who was an Eminent Merchant in the Reign of Queen Elizabeth , concerning the Standard of England . LONDON , Printed by T. Hodgkin , and Sold by Richard Baldwin , near the Oxford-Arms in Warwick-Lane . 1695. A Further ESSAY ON Gold and Silver Coins . MEeting with a Book , Entituled , An Essay for the Amendment of Silver Coins , which being written by the particular Directions of the Lords of the Treasury , made me more Curious to dive into the Affair . And upon a strict Survey I found that Mr. Lowndes , like a very Ingenious Gentleman , hath taken a great deal of Pains by informing us , what Records and Indentures he has consulted , and what assistance he has had from the Masters of the Mint , to demonstrate the Standard of the Gold and Silver used in several or most of the preceding Reigns : And he hath also shew'd , how much we have been impos'd upon by the cunning Artificers of the Times ; as Goldsmiths , Merchants , &c. And furthermore , whence the word Sterling took its Derivation , viz. from a Star or Asterism , impress'd thereon , or from the Iews Star , or from Sterling-Castle in Scotland , &c. Mr. Gerrard de Malynes , who was an eminent Merchant in Queen Elizabeth's Reign , tells you , That the Standard of the Sterling-Moneys of England , had its first Birth from a Place so call'd , being Coined there by Osbright , a Saxon King , which is about Eight Hundred Years ago , at which time an Ounce of that Silver was divided into twenty Pieces , and so esteem'd as Twenty-Pence , and in that manner continu'd until Henry the Sixth's Time. For what reason the Standard came afterwards to be alter'd , I referr you to his Book written upon this Subject , Entituled , The Canker of England 's Commonwealth , being one of the best things extant in its kind . I must confess , that I am so far of an Opinion with Mr. Lowndes , That the Standard ought to be alter'd , for to keep up a certain equality of Trade and Traffick between us and other Countries , not suffering an over-balancing of Foreign Commodities with our Home Commodities , or in buying more than we can vend : For thereby our Treasure will be exhausted , which is the Life of Trade and Sinews of War : To this known Disease therefore of the Body Politick , some Publick Remedy should necessarily be devised and applied , then sublatâ Causâ , the Cause being remov'd , the ill Effect and Consequences thereof will cease . It is to be consider'd , That the transporting of our ready Money or Bullion , maketh our Home Commodities sell cheap , and the Foreign Commodities dear , wherein chiefly consisteth the over-balancing ; so that in effect we give both Money and Commodities to have Foreign Commodities in exchange for them . Some Gentlemen who has made it their business for some Years last past , to melt down all the mill'd and broad Moneys , will tell you , That altering the Standard will lessen the Reputation of our Trade abroad , as tho' all the Foreign Trade depended upon the exchange of Money . To which Objection I answer'd , That that Trade which solely depends upon the exchange of English Moneys had better be broken off and omitted than supported ; as Instance in the Trade which was maintained for several Years betwixt England and France , where , by Computation , it was made appear , That the French King receiv'd in Specie of English Money , at least a Million per Annum ; and by melting it down into his own National Coin made at least Ten per Cent. more advantage of it ; so that it never made any return back to us . By which indirect Practices abroad and the sinister Dealings at home by our own crafty Operators ; it is this that has benum'd our Trade and thrown it into a Lethargick Dilemma . I humbly conceive , that since such indirect Means hath been used both at Home and Abroad to exhaust our Treasures , and the necessity of supplying the Exigencies of the War all along has obliged us to transmit our Moneys into other Countries , that if speedy Remedy is not taken to supply these present Calamities , the Government will become Apoplective . But as we are now under an undeniable necessity for to call in the Publick Plate of the Kingdom , so to supply the present Exigency of Affairs , it will be consistent with the Honour and Interest of this Kingdom to examine and compare our Weight with that of other Kingdoms , and the Fineness of our Standard with that of other Countries ; and if we differ not in proportion between the Gold and Silver , then may our exchange run at one Price both for Gold and Silver , taking the Denomination according to the Valuation of the Moneys of each Country ; and hereby shall we find how much fine Gold or Silver our Pound Sterling containeth , and what quantities of other Moneys of the Netherlands , &c. have to counter value the same in the like Weight and Fineness to ours , whether it be by the Pound , Ducket , or Dollar , giving always Value for Value , which was formerly called Par. This course of Exchange being abused , and of late Years become a Trade in rising and falling in Price , according to Plenty or Scarcity of Moneys , in regard of distance of Places it hath become predominant , and doth over-rule the course of Commodities , and thereby becomes the efficient cause of the over-balancing of Commodities before-mentioned , and consequently the decrease of our Wealth , and the exportation of our Moneys , as by demonstrative Reason have already been shew'd . As Mr. Lowndes has well observ'd , that it would be absolutely necessary to limit the Exportation of Bullion to a certain Summ , which shall be sufficient to support our Army ; yet it would have been much better , had he propos'd and mov'd for a free Port in Flanders , Spain , and other Confederate Countries , where we might have Bullion in lieu of our Commodities . And whereas Money will still be the measure of Trade , as it is valued by the Publick Authority , being reduced to a certainty , whereby it doth not only give a set Price unto all other Metals , but receiveth ( as it were by repercussion ) a Price in it self has made . So that as that studious Gentleman ( who has made his Remarks upon Mr. Lowndes's Book ) saith , that advancing five Shillings to six will in no wise advance Trade , by reason you cannot buy therewith more Goods than you could formerly . I will agree with the Gentleman , if we are to buy Foreign Goods , there may be some tolerable Plea for it , because they look upon our Money , in reference to the Value in Weight , and not in Denomination : But it is otherwise at Home , from common Experience ; for I have not yet found , but that if I had any Moneys that was indifferently good , upon paying down I could buy as cheap as formerly . The second Assertion , that lowering the Standard doth sink the Value of the Gentlemens Estates in the Country ; for tho' they received 100 l. per annum in the new Coin , they have in effect but 70 l. so they lose 30 l. per Cent. For the Truth of this Assertion , I do appeal to the Country Gentlemen themselves , whether in the Year last past they met with those Inconveniencies , as to pay away 100 l. at the Rate of 70. And when there is a prospect of receiving better Moneys , there can be no such loss . I think the Gentleman need not be farther answered , than by his own Argument , in saying , that the Price of Moneys is the measure of Trade . If so , then I hope when the Price is reduced to a certainty by Publick Authority , it ought to be a Rule for all People to be govern'd by ; as for example , If the Government should enact that Pieces of Leather should have the Publick Stamp or Impression , for to go for a Penny , tho' those Pieces are not worth one Farthing , according to the intrinsic Value , yet they may answer the end for which they were made , in going for a Penny , to supply the present Exigencies of Affairs ; and as necessity is the Mother of Invention , it ought to put us on embracing such Expedients as may be useful to our present Emergencies ; as Instance in the Case of the late King Iames , who called in all the Plate , and the best Moneys in Ireland , by which means he debarr'd all his Protestant Subjects from holding any Trade or Commerce in any other Coin than Brass Moneys , and that was advanced to an exorbitant Rate ; yet they were well supported by , and as long as it continued at a Price certain , it became Current in Payment . But upon this Revolution of Government , we were under a necessity of Calling in those Copper-Moneys , so it prov'd very detrimental to such who had great quantities of it by them . And in the same manner it would be with us , if the late Project should take of that Gentleman who has propos'd to advance the Standard for two Years and no longer ; for nothing more preserves the reputation of Moneys than keeping it to a Certainty , so that the Standard may not be subject to so many Changes : And as to the Valuation or Alteration of Moneys concerneth only the Soveraignty or Dignity of a Prince or Governour in every Country , as a thing peculiar to the Prerogative . An unknown Author has also made his further Remarks , That it is a disreputation for our Nation to bring in its Plate , by reason it argues our Ability , and for that we are more esteem'd Abroad by the Wealth we have in Plate . Is it not more disreputable for to be said on us , that we have proportionable Riches to discharge the Burthen of our War , and at the same time be Indebted to both our Fleet and Army . And what necessity is there for every Ale-house-Keeper to have 100 or 200 l. of Plate , and the Government to want it , unless it be to incourage Rogues and Vagabonds ; for scarce a Sessions happens , but some one or other is Arraigned for stealing a Tankard , or the like . I must confess , that I had the Honour to Propose to the Honourable Houses of Parliament this Project that is now set on foot of Calling in the Plate and Broad Money , and of altering the Standard , but meeting with such Opponents as the nameless Author ( who I presume is not willing to assist the Government upon this Term ) did help to break the neck of so good a Design ; for if it had passed into an Act at that time of the Day , according to my then Proposals , it had brought into the Mint at least two Millions of Moneys . And the Coinage upon the same Proposal , besides appropriating so much ready Money for the use of the War , would doubtless have been Four Hundred Thousand Pounds advantage to the Crown : For , according to a strict Computation , there is a Million and one half of Plate in the Publick-Houses ; besides , the advancing the Price of Standard will incourage private Persons to bring in their Plate . And it had prevented the Exorbitant Price of Gold , and put a stop to the Baseness of our Coin. And as I propos'd it before for the Service of the Publick , without any Self-Interest , so if my poor Thoughts should in some Measure contribute to relieve us from the present Calamities , I have attained my End. I must needs agree with Mr. Lowndes , That the Gold ought to bear equal Proportion with the Advance of Silver ; and according to that Computation , a Guinea should be established at Four and Twenty Shillings , which , if Coined into Quarter-Guinea's , would be very useful in way of Trade . As relating to the Clipp'd Money , I am sorry I cannot assent to Mr. Lowndes's Proposal ; for I think it very unreasonable that any Person should be compell'd to bring in their Money into the Mint at Eight Shillings per Ounce , when Sixteen Shillings Currant now will scarce make an Ounce ; so that the People shall lose one full half . Besides , It is to be considered what Inconveniences would happen daily betwixt the Officers of the Mint and the People , both about the Weight and Validity of the Moneys . I am afraid it will prove of the same bad Event to a great many Poor People , as in the Case of the late New-Farthings , where the Patentees were obliged to change Two Hundred Pounds a Week of the old White-Farthings in lieu of them ; which Contract they faithfully perform'd for about a Month , but soon after that time no Farthings must be exchang'd but by their own Creatures , and Factors , who they had impowered to buy up for a third part of what they used to go at . I do not find Mr. Lowndes does propose any farther advantage to those that have unhappily gotten the Counterfeit-Money into their Hands , than the Intrinsick Value , which will be Six-pence in Half a Crown ; so that according to the Computation that may be made , by the loss of the Clipp'd-Money and Birmingham-Coin , will amount to no less than a Million and one half ; wherefore Eight Hundred Thousand proposed cannot repair the defect . And who must bear this Loss but the poor People , for the Rich have gotten all the best Moneys ; and by the Proposal made , they reap an advantage by bringing it into the Mint , whilst the Meaner sort will lose . With submission to better Judgments , I do think it but reasonable that the Government ought to bear the Loss , and that all the Base Moneys ( excepting Copper ) should be brought in by a prefixt Time , and a Fund settled to answer the Defect : And then People will have encouragement to bring in their Moneys . Lastly , I wish that whilst the New Moneys are Coining , that some Expedient may be found out to supply the Necessities of the Poor ; tho' in some measure the Quarter-Guinea's would be very useful in Town , tho' not so in the Countries , by reason Moneys are more scarce . There are several Pieces of small Money that are laid up , as Groats , &c. which if made Currant by the King's Proclamation , would be very useful under these Emergencies . And further , if this Project in altering the Coin should be approv'd and granted . I wish that Commissioners may be chosen in every County for to take an Estimate of what Moneys there are ; and that instead of delivering Notes for Peoples Money , that Tallies may be struck gradually as the Money is brought in , which , in my Opinion , will be much better than Notes : In that Tallies are not subject to be Counterfeited . But for the better regulating of the Gold and Silver , as aforesaid , I do propose the following Expedients . I. Expedient . That all mill'd and broad Moneys may be so far advanced as to induce People to bring it forth , and to prevent the Transportation of the same , which will be a proper Means to supply us with present Cost . II. Expedient . That Gold may bear the same proportion in advance with Silver , according to Mr. Lowndes's Notion , a Guinea will come to Twenty Four Shillings ; so that Coining them down into Quarter-Guinea's , to consist of Six Shillings Valuation each , will make them equally useful in Trade with the New Shillings . III. Expedient . That His Majesty would graciously be pleased to Issue out His Royal Proclamation , That all silver Groats , Two-Pences , &c. might become Current , by which means they will be brought to Light , and be very useful in Change , whereas they are at present like so much dead weight . IV. Expedient . That all Shillings and Six-Pences may be current still , until the New Coin shall be Issued out , which , with the Moneys aforementioned , I humbly conceive may be sufficient to supply the common Trade in the Interim . V. That some Expedient may be found out to supply us with Moneys for the support of our Army in Flanders , from Holland , Spain , &c. by which means we shall prevent the Transportation of Bullion , which is so dear and scarce a Commodity . VI. Exped . That all Birmingham Moneys may be brought into the Mint by a prescrib'd Time , and a Fund settled to answer the defect of it ; for , at the same time , as the Banks and Goldsmiths will get by the broad Money , it would be unreasonable that the Poor should lose by their base , and according to Computation , Eight Hundred Thousand Pounds will not repair the Defect ; but it will be as absolutely necessary that such Care be taken that Foreigners may be prevented from Importing to us base Moneys ; for it is to be feared they have had too great a stroke in this Affair already . VII . Expedient . I think it very reasonable , That the Publick Plate should be called in , to answer the defect of our base Moneys , and supply us with the New Coin ; for the Government ought not to want Moneys as long as we have it amongst us . VIII . Exped . That People may have Tallies struck for the Moneys instead of Notes , in regard Tallies are not to be counterfeited . All which Expedients and Reasons I have Offer'd , nevertheless I submit to the Considerations of more competent Judges . W. L. FINIS . 
A43702	----	Decus & tutamen, or, Our new money as now coined in full weight and fineness proved to be for the honour, safety and advantage of England, written by way of answer to Sir Richard Temple and Dr. Barbon ; to which is added an essay to preserve our new money from being hoarded, melted down, transported or counterfeited. 1696 Approx. 85 KB of XML-encoded text transcribed from 37 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-10 (EEBO-TCP Phase 1). A43702 Wing H19 ESTC R23358 12067655 ocm 12067655 53409 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A43702) Transcribed from: (Early English Books Online ; image set 53409) Images scanned from microfilm: (Early English books, 1641-1700 ; 72:5) Decus & tutamen, or, Our new money as now coined in full weight and fineness proved to be for the honour, safety and advantage of England, written by way of answer to Sir Richard Temple and Dr. Barbon ; to which is added an essay to preserve our new money from being hoarded, melted down, transported or counterfeited. E. H. viii, 64 p. [s.n.], London : 1696. Dedicatory signed: E.H. Reproduction of original in British Library. Decus & tutamen. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Temple, Richard, -- Sir, 1634-1697. Barbon, Nicholas, d. 1698. -- Discourse concerning coining the new money lighter. Coinage -- Great Britain. Currency question -- Great Britain. 2006-10 TCP Assigned for keying and markup 2006-10 Apex CoVantage Keyed and coded from ProQuest page images 2006-12 Jonathan Blaney Sampled and proofread 2006-12 Jonathan Blaney Text and markup reviewed and edited 2007-02 pfs Batch review (QC) and XML conversion Decus & Tutamen : OR , OUR NEW MONEY As now Coined , In Full Weight and Fineness ; Proved to be for The Honour , Safety , and Advantage of England . WRITTEN By way of ANSWER to Sir Richard Temple and D r Barbon . To which is Added , An ESSAY to preserve our New Money from being Hoarded , Melted down , Transported or Counterfeited . LONDON Printed , and are to be sold by most Booksellers , 1696. TO HIS Honoured Friend G. Clive Of the Middle-Temple , Esq SIR , AS the many Civilities receiv'd from You , most justly Challenge an Acknowledgment , so Your exquisite Perfections in Learning and Ingenuity , render this Dedication duly applyed ; by the former whereof , to own Your Candor and Generosity , by the latter to bespeak ( by the Touch-Stone of Your perusal and approbation ) a sufficient Security from the Snarlings and Insults of those Carping Zoylus's , who are such Self-Admirers , to approve of nothing of which themselves are not Authors ; and are more disingeniously Witty in Criticising , and discanting on others performances , than in rectifying and amending what they pretend so defective . And here , SIR , I am not ignorant , that while I am barely owning your Favours instead of a Compensation , I am running farther on the Score , which I doubt not however , but your Goodness will readily pardon , since 't is not practicable for one to pay , where another is not willing to receive . There is one things , SIR , I have omitted in the following Discourse ( as not being practised till it was finished , ) i. e. To observe how great a Mischief we are falling into , by giving considerable Sums of Money for the prompt payment of Bank and other Notes , of which the Rates grow so high , as 't is to be feared will in a short time ruine our Paper Credit , which used to be very considerable in the way of Trade , and which must needs be abated if not totally ruined thereby , unless the Government by some means or other put a speeedy stop thereto ; for Men are grown to that pass , that few will pay their just Debts ( tho' of Money lent , and they have considerable Sums by them , ) unless you 'l take a Note , which they have made by this ill Practice , at least 10 per Cent. less than Money : So that tho' we had our Complement of Running Cash , we shall find , that if this practice be permitted , we shall never have Notes in better Credit , nor ready Money paid in much more plenty than now it is , as I could easily prove by sundry instances , were it not matter more proper for another place , than this Epistle : Which before I. conclude , I shall only further observe , That I look upon the great Mistake of such as are for having the nominal value of our Coin raised , the Alloy therein more , or the same Coined lighter , to be owing chiefly to this misguided Supposition ; That we in this Island live independantly without having any thing to do with Foreign Countries , which did we do the making any thing currant by Stamp , that has little or no value in it self , would I coefess , be sufficient to make it serve to most Ends and Purposes of Inland Trade and Bargains : But if we consider our selves , with respect to Foreign Dealings and Traffique , we shall find we are so much the more at a loss , by how much the Extrinsick value of our Coin exceeds the Real or Intrinsick . But lest I should by prolixity misuse the liberty of this Dedication , and retain your Thoughts too long from the Entertainment of Subjects more Noble , and solidly Refined , I subscribe my self with all Sincerity , Your most Humble , and obliged Servant , E. H. Decus & Tutamen , &c. SUCH is the Folly , as well as the Ambition and Envy of the present Age , that nothing can be propounded as advantagious to the Publick , that meets not with Opposition , to the great hindrance not only of the Riches and Prosperity of the Nation , but also to the unspeakable Scandal and Discouragement of its true Policy . And upon such irregular Principles , no doubt but Sir Richard and the Doctor undertook , to write against Mr. Lock 's Book concerning Coin ; A Book which for its excellent Prescriptions of curious Remarks and Political Maxims on that Subject , cannot be sufficiently valued , but by those of equal judicious Accomplishments , and clear Notions with himself . But before I proceed , that the aforesaid Remarkers may not think , this Discourse undertaken out of any prejudice conceived against them , I do sincerely profess , I know neither of the two ; but that this is published out of pure Zeal for Truth , without any prejudice against any Party whatever . First then in general , I cannot but admire that Sir Richard Temple should be the Author of such mistaken Notions concerning Coin and Trade , as he has publish't in his said Remarks , in which I see not any thing of weight or reason in all his seven Objections ; nor does he make out any thing he Assigns , to be an Erroneous Assertion of Mr. Lock , unless we must believe meerly because he says it , whose Authority must be lookt upon unquestionable , because of his Quality . But tho' these Gentlemen have taken the Pains to impose their Sentiments on the World , yet I hope they 'l have no better reception than they had in the Honourable House of Commons ; for how much soever the leaving open the price of Guineas , and advancing the value of Coin , might have been to Sir Richard , and to Dr. Barbon as to his expected Bank , ( by which means the Sum subscribed would have been ¼ more ) yet sure I am , we should thereby have ▪ had miserable Convulsions in Trade , if not a total Ruine , before the next Session of Parliament . And here I remember what the Doctor says in answer to this , in his Epistle : That he could have got more by melting down the New Coin of the present Standard , than he could propose to do by a New Coinage of advancing the Crown Piece to Six Shillings and 3 pence . But this he should talk to Children , or such Projectors as himself ; for I would fain know , Whether is safer and more for advantage , to gain 15 pence in a Crown Legally , or to gain but 1 penny , ( for Bullion is but at 5 s. 1 d. per Ounce , ) in a Crown , and incur thereby the Penalty of the Law against such melting down . But I 'll leave the Doctor a while , and return to Sir Richard , who in his first Remark says ; First , That an Ounce of Silver is equal to an Ounce of Silver of the same Weight and Fineness , but that an Ounce of Silver will buy an Ounce of Silver , of like fineness ( he says ) is absur'd , since there is no occasion for any Barter . This Remark consists of Two Parts : The first he grants , the second he denies ; and I think the first , which is that he grants , is more absur'd , or at least has more inpropriety in it than the latter ; for two Ounces of Silver of the same Fineness , he needs not question are of the same weight ; for an Ounce Troy is always equal to an Ounce Troy ; so that he had better have left [ of the same Weight ] out . Then as to his Second Part , I dare Appeal to all the world , Whether it is absur'd to Barter Silver for Silver ; I am sure , it s a thing done every day , and no doubt but Sir R. has done it himself , unless he always paid for his Plate with Farthings and Halfpence , which few Goldsmiths would take , unless the quantity bought were inconsiderable ; so that its just as absur'd to say , that an Ounce of Silver will buy an Ounce of Silver of the same Fineness , as it is to say , an Ounce of Sterling Plate is sold for a Sterling Crown Piece ; and that 's no Absurdity at all , for the Plate bought is an Ounce of Silver , and the Crown that paid for it is near 1 ℥ of sterling Silver of the same Fineness , which Barter is very proper and practicable ; and therefore his Reason [ since there is no occasion for any Barter ] is vain and frivolous , since nothing is more true , than that Silver Coin and Old Plate are daily Bartered for New Plate . His Second Remark , is , That the intrinsick Value of Silver is the true Instrument or Measure of Commerce , ( he says ) is partly true and partly false ; for the Money of every Country is the Measure of Commerce there . To this I Answer , That tho' the Money of a Country is the Instrument of Commerce , yet the intrinsick value of Silver is nevertheless the true Measure thereof , by being the measure of that Money ; for by how much the more there is of Silver in any Money , by so much the more it is valuable ; and by how much the more is is valuable , by so much the more of any Commodity it will purchase : And in all Buying , Selling , and Bartering , tho' the Persons concerned were guided as to the Worth of the thing , Bought , Sold , or Bartered , by the Coin of the place where such Bargains are transacted . Yet all or the greatest part of the Coin in all Countries , being either Silver or Gold , whose value is computed by that Silver . To say , That because Coin is the Instrument of Commerce , that Silver is not so , ( as the Doctor does positively , and Sir R. in part affirm ) is to say , That the Coin of all Trading Nations is no Silver , which is false , and the Remark very weak . But the Doctor says , pag. 24. That if Men made their Bargains only for the Quantity of Silver , to what purpose is there any Copper Money Coined , which reckoning one Country with another , is ⅓ part of the Money in Europe . To which I Answer , That Copper Money is in all places , except Sweedland , designed only for conveniency in paying small Sums , which cannot so well be paid in Silver , because the quantity thereof being very small , wou'd be ( and is as we see in our Silver ½ pence , pence , two pences , &c. ) in danger of being lost . And as to there being ⅓ of the Coin in Europe made only of Copper , I dare affirm , and appeal to all the Merchants and Travellers in England , that not one hundredth part of the Coin in all the Traffiquing Nations in the world , except Sweedland , is any thing but Gold or Silver ; And I am farther confirmed in this Opinion , not only because I have some knowledge of the several Coins , but from this computation of it in our own Nations Coin. The most ingenious Calculator Sir William Petty has told us ▪ That 50000 l. in Farthings and Half pence , is a sufficient quantity of Copper Money for England : But I am of opinion , that we have not so many now , because we want . And the Running Cash of Gold and Silver is computed modestly at 6,000,000 il . which divided by 50000 l. quotes ▪ 120 : so that at that rate , instead of ⅓ , there is but a one hundred and twentieth part of the Running Cash of England made of any thing but Gold and Silver . And we have great reason to believe , That Copper Money in other Countreys , being but for the same use we make of it in England , ( viz. for Change , and paying small Sums , as is said above , ) is near the same proportion to their Gold and Silver Cash . And therefore as to what the Doctor says , page 15. ' That there are more Bargains made with Copper Money than either with Gold or Silver , and would make good this Assertion by an instance of half penny Loaves being bought and sold , ( which by the way is a ridiculous one . ) I say , it is egregiously false , to instance in some useful things for the Body and Mind , ( as the Doctor has it , page 2. ) In a Whole-sale Trade , where the Commodities bought and sold are not cutt or divided into lesser parts than they were brought in . Daily Experience tells us , there is no such thing as paying in Copper Money , for it is a small Whole-sale Parcel that is not worth 6 d. and all or most Parcels above ( not to say some below ) that price , are paid for in Silver ; and tho' the Copper Money has the King's stamp on it , which the Doctor lays such stress on , pag. 13. ' yet so prudent and wise were our Law-makers , that no one can be forced to take this Money for Rent or Debt , because it has not a Universal Value , nor was intended to be receiv'd or pay'd in large Sums in the way of Trade , by reason of its being far less portable than Silver ; 3 farthings weighing 14 grains more , and taking up as much room as half a Crown in Silver , and consequently omitting the Grains 100 l. in Copper , as much as 4000 l. in Silver ; and at this rate , how troublesom would it be for a Man to be obliged to receive Copper Money for Packs of Sheeps Wool , or Sacks of Cotton , Bales of Silk , Hogsheads of Sugar , Wine , Brandy , &c. nay , if this mony were paid for the greatest part of Bargains , as the Doctor says it is , it would cost less money to carry most sorts of Goods to a Fair or Mart , than the Money those Commodities were sold for home again ; but to come nearer the Doctors half penny Loaves , how few are there that pay for either Victuals , Apparel or Lodging in this sort of Money ? For does any Man pay for a Years Board , or so much as a Joint of Meat at the Market in farthings ? Does any man pay for a Hatt , Coat , &c. or so much as Gloves or Thread Stockings , in Farthings ? Does any one pay their House-rent , or so much as for a half Peck Loaf in Copper Money ? Nay , to come to the Doctors own instance , of the vast number of Half penny and penny loaves that are bought , I dare Engage ¾ thereof are paid for in Silver Coin ; for the Baker I 'le warrant , never buys a Bushel of Wheat , and pays for 't in Farthings or Copper Money , nor the Victualler ( in whose House most of the Bakers Half Penny Loaves are spent , ) pays for a dozen or two ( than which he has seldom less ) in Copper Money , no nor even the Person who buys these of the Victualler for his own Eating , comes to his House only to eat ; for 't is a hundred to one , but this Guest and his Friend , ( for few drink alone ) if he calls for a Role or two , but he has some Cheese or Butter , and two Tankards of Ale , which makes 6 d. in all which Trade , there is no Copper Money used ; and I think all these Cases may and do happen every day . And as for Books , there 's scarce a bound one in any Volume bought under 6 d. And where one pounds worth is bought with Copper Money , 1000 l's . worth are bought with Gold and Silver . All which is sufficient to shew , that it is with Silver Money and not Copper ( as the Doctor says , ) that our Inland Trade is managed , and consequently that Silver is the Measure thereof . And after the same manner is the Traffique of other Nations , their Money being for the most part made of Silver , contrary to what the Doctor says , page 14. viz. That the Merchants both in their Bills of Exchange , and in their Accounts do as often reckon by the Copper Money as the Silver Money . This I utterly deny , and will prove it a Mistake in the Doctor , by shewing what Money other Nations keep their Accompts in . And in what Money they exchange with London . That all Trading Nations that have Commerce with England , do keep their Accompts in , and buy and sell with and for Silver Money , for the most part will appear as follows : 1. In the Netherlands , viz. at Amsterdam , Rottordam , and Antwerp , Accompts are kept in pounds , shill . and pence , Flemish , or in Guilders and Stiver ; there is likewise current the Holland Dollar , Duccatoon , and other pieces , all of Silver , some 9 , some 10 , and some 11 ounces fine . 2. In France Accounts are kept in Livres or Franks , Souze and Deniers , and there are Curant the Crown of 3 Livres , and other pieces , all made of silver , some 10 ounces , some 10 ounces 18 pw . fine . 3. In Spain Accounts are kept in some places , viz. Valentia , Saragota and Barselona , in pounds , shill . and pence ; and there are currant the Ducats of 10½ , 11 and 12 Ryalls , which is silver Coin of 11 ounces , 3½ pw . fine ; and at Cadix , are Currant the piece of 8 Sevill and Mexico , the first 11 ℥ 4 pw . the latter , 11 ounces fine . As also the Pattacoon , &c. 4. In Portugal , their chief Money used in Traffique are Milrees , Crusado's , and Testoons : And they in some parts keep their Accounts in these , and some in Rees , which is Copper . But the Exchange is made with London upon the Mill-Ree , which is Par with 6 s. 4 d. Sterling ; All these Denominations of money , except the Rees are Silver , some 10 ounces 7 pw . and some of 11 ounces fine . 5. In Germany the Coins of silver are too tedious to mention here ; the most usual of which in Trassique , are the Rix Dollar above 11 ounces fine , Creutzers of 10 ounces , 10 pw . fine of Silver ; and at Hamburgh , Accounts are kept in pounds , shill . and pence , in which they likewise exchange with London 32 shill . being Par there , with one one pound Sterling . 6. In Italy , as at Leghorn and Genoa , Accounts are kept in pounds , shill . and pence De Ovo , the Testoons of Mantua and Milan of 11 ounces , 5 pw . fine , also Ducats , Tary , and many other silver Coins , too tedious to relate here ; but we exchange with Venice and places thereabout , upon the Ducat de Banco , which is Par with 52 pence Sterling , and with Legorn upon the Crown de Ovo , which is Par with 67½ d. Sterling . 7. The Money of Ireland in which Accounts are kept , are Pounds , Harps and Obbs , the Harp is 9 ℥ 6 pw . fine , the Obb is half the Harp , and 20 Harps is their pound ; and Exchange at London with Dublin by the 100 pound Irish , which is Par with 75 English . 8. The Money of Scotland , is Pounds , Marks , Nobles , and small Pieces , the former of 11 ℥ . 2 pw . ( or Sterling ) fine . And in short , all other Trading Countrys , except Sweedland , have their Commerce carryed on chiefly by silver Coin , as the Rupee and ½ Rupee of East India , all sine , the piece of Eight , Mexico and Peru in the West Indies , fine as abovesaid ; The 8 s. Danzick , Guilders , &c. in Poland , 10 ℥ . 12 pw . fine ; The Deghen , &c. of Russia , 11 ℥ . 13 pw . fine ; The Danish Dollar 10 ℥ . 12 pw . fine . And in Sweeden , besides their Copper Dollars , they have the Sweeds Dollar of the same fineness , with the Rix Dollar of Germany , and half its value ; tho' I confess , a great part of their Trade is carryed on with the Copper Money ; but the like is not done ( as appears by the foregoing Account ) in any other Nation , and no doubt but the Sweeds would glad enough be rid of it for Silver , were it not the Product and Manufacture of their own , and that they are very poor : for as the Learned and Ingenuous Malynes says on the same Subject , Necessitas non habet Legem . And thus I think , I have sufficiently proved from matter of Fact , That more Bargains are made with Silver than Copper Money , since there is abundantly more of the former than of the latter , and consequently that Silver is the measure of Commerce : And I have likewise proved , That Merchants do not either in their Accounts or Bills of Exchange , reckon any thing near so much in Copper Money as in Silver . For whereas the Doctor says , pag. 13. As in Portugal , the Merchant often draws his Bills of Exchange , to be paid in Rials of 400 Rees ; and says he , And so in Spain , he draws his Bill to be paid in Rials of 372 Malvadies . He is in this very much out , as well as in his Copper Money bargains ; for our Exchange to Lisbon is in Milrees of 6 s. 4 d. Sterling per Millree , & to 7 s. &c. in Circa & to Cadiz . The Par is 54. d. sterling for one piece of Eight ; and the course ( now ) 60 d. and upward ; to which two places are the principal Exchange of that Country with London made ; and what they do among themselves , is nothing to us . And therefore it does not appear , that the Doctor has any more Experience in these matters than Mr. Lock ( nor indeed so much ▪ ) notwithstanding his great Profession , in condemning ▪ Mr. Locks definition of the Par of Exchange , page 19. which with the Doctors Notion , I●ll incert as follows , and leave it to those that have long known the Practick part , whether of the two is the most true and genuine . Mr. Lock 's Definition of the Par. The Par of Exchange ( pag. 18. of his Considerations ) is a certain number of Pieces of the Coin of one Country , containing in them an equal quantity of Silver to that in another number of pieces of the Coin of another Country . The Doctor 's Definition . The Par of Money is made by computing the valuation that the several Governments set on their Coins , which is not from the equal quantity of silver in each piece of Money . Now I take the Doctors Notion of the Par of Exchange , to be very false , and what was never thought of being the Par by any but himself ; for to say that the value of Money ( for I take the Par to be value , ) is made by computing the valuation that the several Governments set on their Coin , is not only false and nonsensical Contradiction ; but also ( if he means , that one Nation must take anothers Money for what they please to call it , ) pernicious to Trade , and destructive to the very foundation of all Exchange , and a thing never practised . For instance , Suppose in the Year 89 , I had paid 100 l. at London , that my Factor or Correspondent might receive the value at Dublin , where the Person on whom the Bill was drawn , pays my Factor 800 Copper Half Crowns , which were equal to my 800 silver ones which I paid here , according to the Doctors Par of the valuation the Government had put on them , ( tho' in truth , they were not above 800 Half Pence , or 33 s. 4. d. of that Money the value was paid in England . ) Now suppose the Government had changed after my Correspondent had receiv'd these Copper Pieces , and before he had put them off again ; and that this new Government had put a stop to the Currency of the Copper Money , and made Half a Crown currant for Half a Penny ( as was reasonable enough ) I should here have lost 98 l. 6 s. 8 d. by the Bargain ; and such loss is every Merchant liable to , that regards not whether the Mony his Correspondent is to receive Beyond-Sea , be something near the Par of the Money paid by himself here , by having so many more pieces allowed in Exchange , by how much those pieces are deficient in weight and fineness of those paid first : For otherwise I would fain know , to what end all the Mints of Europe keep so precise Accompts of the fineness of their Coins , for they might know without that , what value ( by denomination ) other Governments put upon their Coin. Or to what end was there such care taken by Edw. III. and other Kings of England , to fix Tables of the Par of Exchange in publick places , setting forth the true weight and fineness of Foreign Coins , to prevent our English Merchants being imposed on in their Exchanges ? And the truth is , the matter is not so difficult as the Doctor would make it , by his singular way of expressing it : For the very word implies the meaning , Par pro pari , i. e. value for value , not as the Government puts upon it ( with respect to Foreign Exchange , ) but as it is in weight and fineness . For as Silver is the measure of all kind of Commodities , so is it of Exchange too ; for as in Commutation or Barter of Goods , the several sorts must first be valued by the standing measure of Silver before it can be known how much of one must be given for another kind : So is it in Exchanges , where the true value of each Coin being compared with Silver , it is easily known how many pieces of one Coin must be given for so many of another . And Lastly , I offer this as a Proof , that the quantity of Silver in Exchange , is considered , and not the nominal value the Government gives to Money ; because for these two years past , since our Money has been so very much clipt and debased , and our Guinea's so high , Exchanges have run very low against us ; the Dutch ( and other places proportionable ) allowing us but 26 s. and 27 s. Flem. for a pound Sterling ; whereas within these 4 or 5 years , they allowed 35 s. per pound Sterling ; and since our Coin has been amending , and Guinea's lowered , the Dutch allow 29 and 30 s. for 20 s. Sterling . Sir Richard's Third Remark , is , Bullion is a Commodity , and has no certain universal stated price or value . And says the Doctor in the first of his contrary Propositions : That there is no intrinsick value in Silver , or any fixt or certain Estimate that common Consent has plac't on it , but that it is a Commodity , and riseth and falleth as other Commodities do . I must confess I have this advantage in answering this : That no body is of the Doctors mind , and therefore a little may serve to say against him in this case , for 't is a hard matter to introduce a new Opinion at best ; but more especially when that Opinion is contrary to all men's Reason . That there is a natural or intrinsick Goodness in Silver above all other Metals ( except Gold ) such as solidness , & not porous , cleanness & not apt to rust , fineness and beautiful to the Eye , I think no body can gainsay . And that upon and for the sake of these natural Perfections and Qualities , Silver has obtain'd an Universal Esteem and Value above all other Mettals ( except Gold ) in all the most civiliz'd Nations and earliest of times , is as undoubted a Truth . For as to its universal value , it is much the same at the East and West Indies , in Turkey and Eastland , in Russia , Poland , and all over the Commercial World , as it is here in England . And as to the early esteem it had in the world , we find it the common Measure of Commerce in Sacred History , about 488 years after the Flood which was in Abraham's time ; and no doubt but it was so long before : And tho' Silver is a Commodity because it is bought and sold , yet I deny that it rises and falls so as other Commodities do , nor is there any Commodity that keeps such a certainty as to price , as Silver does ; it being in no part of the World worth less than 5 s. an ounce , and in few places worth much more ; and the reason of this will appear , by comparing it with other Commodities , most of which are the Product of more Countries than one or two , and the same sort of Commodities are made better and worse , which with many other Circumstances , as Fashion , Plenty , Scarcity , &c. much alters the price of Commodities that are for Wear , ( as the most staple ones are . ) But Silver coming chiefly from the Mines of Peru and Mexico in America , and not subject to any of the abovesaid Causes of rising and falling , the price thereof is much at one ; so that the intrinsick value of Silver , may properly enough be said to be 5 s. per ounce , because it will fetch so much in any part of Europe , if not of the World , and consequently the fittest measure of Commerce ; and this is no more than Sir Richard grants at the latter end of his third Remark . Tho' the Doctor is much more positive in denying the whole , to make good the credit of his Copper Money Extrinsick value , &c. Sir Richard's Fourth Remark . That advancing the denomination , or lessening the weight and fineness of Coin , will be no loss to the Landed-men in their Rents , &c. And that such a change can have no such effect . And says the Doctor in the Tenth of his contrary Propositions . That if the Money be raised ⅕ , the Landlord will not lose any part of his Rent , or the Creditor any part of his Debt . The truth of these Assertions depend on this : That raising the value of Coin by denomination , will not inhance the price of any Commodity . I shall therefore first prove , That the raising the denomination of the Coin , and making the 5 s. piece to pass for any Sum more , will analogically ( at least ) advance the price of all things . 2. Shew how the Landlords and other Persons , having Annuities or Stypends , will become losers by such advance of Coin and Commodities . We have sufficient matter of Fact , to prove , That the raising the denomination of Coin , does also advance every Commodity proportionable ; for that which was worth but 20 pence , in Edward the first 's time , is now worth 5 s. and that all Commodities did rise near ⅓ from July , 94. ( when Guinea's began to rise ) to the time they were at 30 s. is also matter of Fact ; and that since Guinea's have been setled at 22 s. all Commodities have fallen is also true , Wool and Woolen Cloth ( the chief of our Commodities , ) is a Proof thereof , and is that I choose for instance ; the first being fallen 8 s. per Tod , the second 4 or 5 s. per Yard . Which advance of Commodities according to the advance of Coin , made the wise and good Q. Eliz. in the Declaration , Anno 1559. concerning the amending the Coin , debased by H. VIII . express these words : [ Also by continuance of this sort of base Moneys , altho' Almighty God hath given now of late Years , plentiful increase by the Earth , yet the Prices of all things growing or coming from the Earth , hath daily risen , as Grain , Fruit , Cattel , Victuals , Wool , Leather , and such-like , and no remedy could be devised to amend the same , but to cause that the same base Monies should be currant for no more than they were in just value . ] And the reason of the Rise or Fall of Commodities as Money does , is plain , because Money is that which measures every thing ; and therefore if Money rise , Commodities must rise ; if it falls , they must fall . And the chief reason of this , is our being so deeply engaged in Commerce with Foreigners , who will never take our Money for what we are pleas'd to call it , but what it is really worth with them , and will be taken from them for , in other places . Thus , if an Ironmonger buyeth of a Dutch-man Chimney-backs , to the value of 825 pounds Flemish , he might have paid for them before the advance or debasing of our Coin ( the Exchange being at least 33 s. Flem. per pound Sterl . ) with 500 l. Sterling ; but our pound being advanced to 24 s. the Dutch-man lowers his Exchange proportionable ( as they always do ; Witness the extream low Exchange just before the Regulation of our Coin , and the advance of it since , ) which is to 27 s. 6 d Flem. for 1 l. Sterling ; at which Rate 600 l. will but pay the pounds Flem. 825. So that here is evidently ⅕ lost to the English-man , who must fetch it up by selling his Goods ⅕ dearer than formerly . Or if he Barters for Goods of our own Product or Manufacture , as suppose Iron in the Bar , the seller of this Iron will advance it proportionable to what the Chimney Backs are advanced , which ⅕ . And thus 't is plain , the raising our Coin advances Forreign Exchange ; that raiseth Foreign Commodities , and Foreign Commodities rising , does many ways advance the Product of our own Country ; for if Chimney Backs , Sword Blades , &c. coming from Holland , should by raising our Coin grow dear , our English would generally content themselves with English Blades , and Grates , and Chimneys of our own make , which would much advance the price . And tho' I have only instanced in one or two Commodities from Holland , yet the same consequence would happen by the raising our Coin to all other Goods or Merchandize , not only of that Country , but all others with whom we have any Commerce . And thus I have proved , That raising our Coin would necessarily advance the price of all things , and shall therefore proceed to shew : 2. That by this advance of Coin and Commodities , all such as have made Contracts before this advance , must necessarily be losers , till such time as they can advance the Terms of their Contracts proportionable to the advance of things . Thus , 1. All Landlords whose Estates are let out by Lease . 2. All Persons having certain yearly Stipends or Sallaries . 3. All Creditors whose Debts were contracted before the advance of our Coin , and not paid till afterwards ; must all unavoidably be at a loss by the advance of Coin. 1. As to Landlords , whose Estates are lett out by Lease for 7 , 11 , 21 , 31 or 40 years , ( the usual terms Leases are granted for , ) will be so much the greater losers , by how much the longer the Leases they have granted are : because here is an advance of Coin that has advanced the price of things , and still the Landlord has but the same Rent . For instance , if I have 500 l. per Ann. let out by Lease for 40 years , to be paid in currant English Money ; after this , the Coin of the Nation is advanced ⅕ , and other things proportionable , yet I received but 500 l. per Ann. of this New Money ; so that if I expended yearly before the advance of Coin 300 l. and laid up 200 l. now the Coin is advanced , that which cost me 300 l. will cost me 360 l. so that I can lay by me but 140 l. per Ann. The interest of which at 6 l. per Cent , is but 8 l. 8 s. Whereas it is plain , the interest of my 200 l. which I laid up before the advance of Coin , is 12 l. So that here is evidently a loss of 3 l. 10 s. in 12 l. which is above ¼ loss to the Money'd Man. But it may be said , That this Landlord or Money'd Man , must be suppos'd to have Money by him when this change of Coin happens , which will be ⅕ more , as if he had 1500 l. of the Old Money , it would be 1800 l. of the New , which is 300 l. gain to him . To this it may be answered , That this Gain will be more than lost in a short time after , when much Money by the dearness of things is drawn out of the Landed or Monyed Man's , into the Trades-man's hands . And the Money of the Nation being thus encreased ⅕ , does naturally encrease the number of Userers and Purchasers , and the number of Userers and Purchasers encreaseth the value of Land , and lowers the Rate of Interest . So , if with this Money he would purchase , Land is advanced ; or if he would lend it on Usury , Interest is lowered ; so that he must necessarily Iose by this means notwithstanding . 2. As the Landlord , whose Estate is lett out by Lease , must lose until his Leases are expir'd , and he can advance his Rents proportionable to the price of all other things : So likewise it will go with such as have Employments , whose Sallaries are certain , and cannot be suddennly ( if ever ) advanced in proportion to Victuals , Cloaths , &c. on which they live , so that they must also be great losers by this advance of things , which is occasioned by the rise of our Coin. 3. All Creditors whose Debts were contracted before the rise of Coin , and not paid till afterward , must lose , because the Debt was contracted before the rise of things , and according to the value of Money then ; but now Money is raised and Commodities likewise , this ( when paid the Creditor in the New Money ) will not purchase so much by ⅕ as if it had been paid him before this Revolution of Coin ; besides , had the Debt been in the Creditors hands before the alteration of Coin , it would of it self encreased ⅕ , which he also loseth . But on the other hand , 1. All Day-Labourers . And , 2. All Landed-men having Tenants at Will , need not lose by this Alteration of Coin , because they may advance the Prices of their work , and Income proportionable , to the advance of Money and Commodities , which loss must therefore fall , 1. On such as have occasion to employ these Labourers , as Builders , &c. 2. On these Tenants at Will , who must advance the Rent of the Houses or Lands they hold ; so that I think nothing can be made more apparent , than that advancing the currant value of Money , will be a loss not only to Landed-men , but to most others . What is material in Sir Richard's Fifth Remark , is already Answered : I shall therefore say no more to it , but consider ▪ Sir Richard's Sixth Remark . To keep up an old Standard under an old Denomination below the value of Bullion , is the greatest Folly imaginable , and for which we have paid dear ; for it first carryed away all our Gold and Broad Money , and lastly all our Mill'd Money , &c. And the Doctor says in the Eighth of his contrary Propositions , That it is the Practice of all the Governments in Europe , to raise their Money as the price of Silver rises . To Sir R. I answer , That nothing can be greater Folly than to alter the Standard of our Coin , as the price of any Commodity is altered ; for Money being the Measure of Commerce ( as both Sir R. and the Doctor say it is , ) to alter Money , is to alter the Measure of all things ; and that I am sure , unless there is absolute necessity , is both Folly and Injustice , and is as tho' the Buyer of Timber or Deal Boards , should have his two Foot Rule made longer in proportion to what the seller advanceth the price of his Wood. 'T is great Folly to advance the value of our Coin in proportion to Bullion , or any other Commodity , because it will never answer the end for which it is raised . I have sufficiently proved , That raising the Coin will inhance the price of all Commodities ; and therefore to advance the value of Money , to bring it to the same price with Bullion , instead of that , it would advance the value of Bullion , that being a Commodity as well as other things , and is indeed beginning at the wrong end , as if we should bring the Cart to the Horses ; Not that I can see that Bullion before the Regulation of our Coin was advanced ( properly speaking ) to 6 s. 3 d. per ounce , as some fancy ; altho' it was frequently sold for that price , yet if we consider that that 6 s. 3 d. of Clipt Mony , was bona fide , worth but 5 s. of our true Mill'd Coin ; it then follows , That Bullion was not advanced so much as other Commodities , but was all along at the old price of 5 s. per ounce , if you would pay for it with Money of full weight and fineness . And to confirm this truth , I have discoursed with several Eminent Goldsmiths , who have great dealing in Plate , and they tell me , That what I have here asserted is true ; and I am sure , it is reasonable . For ( as the ingenious Mr. Lock observes ) it is impossible there should ever be 15 d. difference between an ounce of Sterling Silver coined and an ounce uncoined , tho' there may be 2 d. 3 d. or 4 d. per ounce difference , because Bullion may be exported and coined Silver may not . And because a Crown Piece wants 2 d. of being 1 ℥ . of Silver . And as the ill Policy of coining our Money lighter , or making it go for ¼ or 〈◊〉 more than it is worth in other Nations , would appear ; so would it be great injustice , because it would injure several sorts of people . The King for Example , must lose ⅕ of what he takes over to bear his Expences in Holland , and so must the Officers and every private Souldier , which would fall especially very heavy on the latter : who out of their 3 s. a week Allowance , must but have ½ a Crowns worth ( at most ) of the Dutch Victuals , Drink , &c. and so would it likewise be a manifest Injury to all persons concerned in Foreign Affairs , as I have sufficiently proved before ; so that instead of being the greatest Folly imaginable to keep our Coin to the old Standard for Weight and Fineness , I think if rightly consider'd , it will appear to be the most prudent and advantagious thing the Government can do , to keep it where it is ; and that more especially , considering we are so deeply engag'd in Foreign Concerns : And as to out Domestick Affairs , many ( I have shewed ) will be losers by this advance of Coin , but none can be gainers ; the truth is , our Inland Trader's ( purely living upon that ) will lose the least , tho' they 'l gain nothing ; for what they will gain by the advance of their Stock and Cash just upon the Revolution thereof , they will in short time lose , by paying dearer for Manufacturing their Goods , and all Necessaries . But on the contrary , tho' we can gain nothing but loss by advance of Coin , yet we shall be great Gainers by continuing the present Standard , because Foreigners will take out Money ( upon occasion ) at the same price we take it at , and it will keep all Commodities both Foreign and Inland , at a reasonable price . Besides , the Honour and Esteem the Nation would justly gain thereby in the eyes of Foreigners ▪ for , as the ingenious Sir William Betty says of raising the Denomination of Coin , That it 's like compounding to pay a Debt , and is an infallible sign of a Bankrupt , and poor Nation ; so on the other hand , the keeping the Coin to its Primitive Weight and Purity , is an Indication of its Wealth and Riches . As to the continuing our Coin on the present foot , being the cause of carrying away all our Broad and Mill'd Money . I answer , That of the three parts , viz. what is Exported , Hoarded , and Melted down , I really believe the part carryed away to be the least , and the part Hoarded the greatest . And this will appear by considering , in whose Hands the greatest part of this Cash lyeth : It cannot be deny'd , but that the Nobility , Gentry , and Inland Traders together , are Richer , and have more Money than either the Merchants actually Trading beyond the Sea , on the Manufacturers of Plate , called Goldsmiths ; and therefore 't is most certain , the greatest part of our Milled and Broad Money , is hoarded , for the Nobility and Gentry have no other use to make of the surplus of their Expences , unless to purchase with , or put out to Interest , or into the Bankers Hands ; and so long as the major part of the Cash currant is Clipt , they 'l dispose of that these ways , and keep the Mill'd and Broad Money in their own Hands ; so that I may safely affirm , that in some measure to my own knowledge , besides what Reason suggests , That there is not a Gentleman in England , that lives not up to the heighth of his Estate , but who has considerable Sums of Milled , and Broad Money by him ; and tho' the Bankers and Goldsmiths are reputed to have melted down much , yet they are not all so ill principl'd , to act against the Laws , Constitution and Interest of the Nation ; for I know a Banker who upon this Revolution of Coin , had by him to answer Payments in Old Mill'd Money , to the value of 10000 l. And 't is but reasonable to conclude , That the Bankers have much more Money in their Hands than the Merchants ; for they have generally the possession of the Merchants Money . And if a Merchant has a great Sum to receive , he orders his Goldsmith to do it , who has therefore the priviledge of picking and culling out the Mill'd or Broad , to hoard or melt down , and satisfieth the Merchant with ordinary Clipt Money ; so that it 's plain almost to a Demonstration , that the greatest part of our Mill'd and Broad Money is hoarded , the next to that is melted down , and the least part of all is exported . And as to what the Doctor says , That it is the practice of all the Governments in Europe , to raise their Money as the price of Silver rises : And at the latter end of his Book , pretends to give several Examples of it , and what was the consequence thereof . I do not see that thing he says makes for him , but rather against the Raising of our Coin , whose Circumstances do by no means run parallel with theirs . For pag. 61 , 62 , and 63. he tells us , The Romans and French did use to raise their Coin ; but what is that to us ; they were lead by their Ambition to be engag'd in long and chargeable Wars ; the former , with most part of the World ; the latter , with most of Europe . And therefore , let the consequence be never so fatal to their Foreign Commerce ▪ ( of which the Romans had little , and the French of late have as little or less , ) yet they must have Money to supply their present Exigencies , which they could not possibly acquire any other way , but by multiplying their Species of Coin. But for us to follow their Example , since we can easily raise our Money without that beggarly way of Compounding ; and since we have so vast a Foreign Trade , which is the Riches and Glory of our Nation , and which must be much abated , if not ruined by such advance of Coin , as I have sufficiently proved above : I say , these and many other miserable consequences unavoidably attending , for us to follow their Example , would be the worst piece of Policy imaginable : For indeed , the consequence of this advance of Coin was no more than ( as the Doctor confesses , pag. 62 and 63 , ) they themselves grew weary of ; for ( says he ) it created a disturbance . And pag. 82. they called in such Money as had been greatly raised , and reduced the value of it to its usual Bounds ; which I think they would never have done , had they not found this raising of their Coin very prejudicial to them ; for People are not willing to let go what they find by Experience will be their interest to retain . And pag. 84. the Doctor confesses , that the Nation was never at Peace in their Commerce and Traffique , till the value of the Money was reduced within their Bounds . So that the Doctors Example of raising Coin , is neither a Reason why we should do the like , nor any Encouragement , but quite contrary ; from the ill Effects , he tells us , The raising their Coin had as I have shewed above ; and yet notwithstanding these miserable Effects , the Doctor wishes heartily , pag. 71. That we had a Power to raise our Coin 40 or 50 per Cent. Which Power no doubt but we have , so that he needs not wish forit ; but blessed be God , they that have this Power , have more Reason and Ingenuity , than to make use of it in a case that would be of so miserable and destructive consequence . The truth is , could the Doctor prove , That Bullion were 6 s. or upward per ounce in Foreign parts , with whom we have great Commerce , and that this price were so constant and ordinary , that there were no hopes of its Fall , then it would be time to advance the price of Bullion likewise in England , otherwise we should have none Imported , but what we have would be Exported ; and if we should by that means , be forc'd to advance the price of Bullion from ●… s. 1 d. per ounce ( which it is at now , ) to Six Shillings , we must necessarily advance the price of coined Silver as well as Bullion , otherwise the price of Bullion being so much above that of Coined Silver , we could neither make up the Difference by Imposition , as I have hinted afterwards ; nor could we possibly prevent the Melting Down and Transporting it , the Encouragement being so great ; but since that high price of Silver cannot for a constancy happen in Foreign parts , since the discovery of those rich Mines in the West Indies , and since the price of Bullion is now much the same with us as in other Trading Countrys ; and since the value of Bullion and Coined Silver is at this time much the same here , there not being a penny per ounce difference , I see not the least Reason why we should advance the value of our Money . As to what the Doctor says , pag. 80. That Trade makes people Rich , and Gold and Silver are the Badges of Riches ; and therefore , as the People grow Rich , Gold & Silver must rise . I Answer , That his Premises do by no means require such Consequences ; for by this he would suppose , that we have only a certain quantity of Gold and Silver here in Europe , which can no ways encrease but by the advance of the Specie , not considering that many Years some Millions of pounds are brought over into Europe from the West Indies , which greatly encreases our Stock , keeps the price pretty certain , and prevents us having any occasion for the Doctors multiplying our Cash by inhancing its nominal value . Sir Richard under his last Remark ▪ has chiefly this , worth Answering , viz. That the Fall of Guinea's was not only unnecessary , but highly prejudicial to the Nation . This is easily proved a mistake , by proving that the lowering of them conduced extreamly much to our advantage , especially in our Foreign Trade . For if in the greatness of our Foreign Trade consists the Riches and Glory of the Nation , as all hands do agree it chiefly does , and if the highness of Guinea's so perplex'd our Merchants that they could not possibly carry on their Foreign Commerce without great Difficulty and Loss , and if all this put the Merchants upon petitioning the Parliament for bringing Guinea's lower , which was done at their Request ; then I think it 's plain , that the lowering them was not disadvantagious to us , but absolutely , necessary for the carrying on of Foreign Commerce , and maintaining the Riches and Grandure of this Nation : For the high price of Guinea's first advanced the course of Exchange against us , and all Foreign Commodities ; and secondly , the price of Inland Goods , which nothing can be more plain , than that lowering of them has brought down ; and I could give instances almost in all Commodities that have fallen since Guinea's were brought Low : So that the Gain thereby extends to all that have occasion either for Apparel or Victuals , whereas the loss by lowering them chiefly fell on such as had great Sums in their hands , and who probably got as much or more by the Rise of Guineas as they lost by their Fall. And thus I have done with my Arguments against Raising our Coin , of which tho' I might have said much more , if my Business other ways would have permitted ; yet I think the foregoing Lines are sufficient to prove , That the Raising our Coin will infallibly bring great loss to the whole Body of this Nation , by raising Foreign Goods , and the course of Exchange , and likewise all Inland Commodities : Whereas the Loss to us by continuing the Coin at the present Standard , is meerly accidental , and can only prove so by our Coins being either melted down , counterfeited or hoarded ; all which , it would be no less subject to , were it Coined lighter , or the value raised , as they would have it , should the price of Bullion rise proportionably to what we advance our Coin , which 't is more than probable it would . And therefore , since our Coin ( tho' it were advanced ) would still be lyable to the aforesaid Mischiefs ; the way to prevent and salve them , will not be to Coin our Money lighter or baser , or raise its value , but it will be to endeavour by all means possible to prevent these Mischiefs , in order whereunto I have made the following Essay . Since many have taken upon them to prescribe Rules for the prevention of these great Prejudices to the Nation , of Hoarding , Melting down , &c. I shall take the liberty to throw in my Mite , for the preservation of the Publick Treasure . For the truth is , tho' the currency of such Money as is of full weight and fineness , would conduce much to the facilitating all Receipts and Payments , and tend extreamly to the Honour and Advantage of the Nation in several respects . Yet if we cannot find means to prevent the great mischiefs of Hoarding , Melting down , Exporting , &c. it is to be fear'd , we shall have a greater diminution of our Coin by these irregular and ill Practices , than we can possibly make up by our Mint : And therefore I humbly propose , First , To prevent hoarding our Coin. This is certainly the least blameable of any of the ill Practices , because the Money remains in Specie in the Nation , which on emergent occasions would probably be brought to light , as we see great Sums are of Broad Money at this time ; it is therefore the excessive Hoarding that is mischievous to the Nation , when Men have such a love to Money , either for its Beauty , or intrinsick Worth , that rather than part with it , they will let their just Debts remain unpaid after due , in hopes , or upon the expectation that a Sum will shortly come into their hands that is less valuable , tho' in the mean time perhaps the Labourer , and other Artificers , who have but just from hand to mouth want Bread for themselves and Families . This is the case of such Nations as have two sorts of Coin currant , a better and a worse of the same denomination , and this has long been our own case . We have had the Crown , ½ Crown , Shilling and Six Pence , New and Old , Unclipt and Clipt ; and the consequence of that has been , that our Mill'd and Broad Money has been Hoarded , and the Clipt only currant . Therefore , if ever we would prevent the excessive Hoarding of our Coin , we must have it coined all of full Weight , by calling all our Money in that admits but of suspition of being Clipt , and when that is new Coined , and all our Coin is Milled , or Broad unclipt , we shall find not a penny Hoarded that will any ways be a detriment to the Nation : And for any Gentleman , &c. to hoard so much Money as is over and above what will defray all their Expences and pay their Debts , can never hurt us . But then , this calling in our Old Coin will best be done gradually , as the Wisdom of the Parliament hath begun , to their exceeding great Commendation . And in my poor opinion , if the Government in the space of six Months ( by which time we shall have a Million and a half of New Money , besides the great quantity of Old Mill'd Coin and Guinea's , ) should call in all our present clipt Money , it would I presume , effectually prevent excessive Hoarding , and we should have much more plenty of Money currant , and ease in telling it , than we have now ; which we can never expect , so long as any of these Clipt Sixpences , &c. are permitted to go , for the Reasons aforesaid . 2. To prevent the Melting down our New Coin. I humbly propose , That the price of Bullion may be settled by Act of Parliament at 5 s. per ounce , to all people that have dealings in it within this Kingdom , except the Merchant that imports it , who may have 5 s. 3 d. or 5 s. 4 d. per ounce , as an incouragement for bringing it into the Nation . That all Bullion imported be bought of the Merchant by the Lords of the Treasury or their Agents , for the King , of whom alone , all such as have occasion shall buy their Bullion at 5 s. per ounce : That to make good this 3 d. or 4 d. per ounce , and Charges , &c. to the King , a Duty be laid on some Commodity imported , as Wine or the like , to be paid by the Retailers or Importer , as the Parliament shall think proper . That an enact Account be kept of what Bullion is imported , and to whom it is disposed , that so an estimate may be made what the King is out of Purse , and a Duty laid accordingly : And if this Accompt is audited once a Month by the Kings Auditors , it will prevent his Majesty being defrauded . That the Officers concerned in receiving and disposing of this Bullion , shall be sworn to deal justly and fairly , and likewise give good Security for the same . That all persons selling Bullion to the King as imported , shall make Oath , that it was first Landed in England , since a certain time that may be mentioned in the Act ; and that such Silver was never bought or sold before in this Kingdom , which will prevent the selling of any Bullion to the King ( to gain 3 d. or 4 d. per ounce ) that was formerly bought of him . That all Bullion thus bought of the King , shall ( after it is manufactured ) be carry'd to Goldsmiths-Hall , and vouched by the Mark ( as it is now ) to be Sterling Silver , to prevent putting a greater quantity of Alloy therein by the Owner . That the Gain of Workers or Sellers of silver Utensils , shall be charged to the Buyer in the Fashion ; and if any Goldsmith shall take or require above 5 s. per Ounce for Plate of 11 ℥ . 2 pw . fine , and 18 pw . of Alloy , he shall forfeit the same ● to the King , and ½ to the Informer , or such other Penalties as the Wisdom of Parliament shall think fit . That no Bullion be Exported before the Exporter make Oath , That not any of the Current Money of England is contained in it , as is by Law provided to that purpose . And if any one shall discover any Persons offending in any of these Cases , their Estate shall be confiscated , ½ to the King , and ½ to the Informer . These and such like Rules and Methods , tho' here laid down rough and imperfect , may I doubt not , if polished and improved by a prudent Government , wholly cure us of that mischievous practice of melting down our Coin. And tho' many Objections may by prejudiced or self-interested People , be brought against them , yet if they prove only Motives to induce this sort of men , or any others , to rectify what I have said amiss , or compleat what I have Essayed , I have my desire . But I am fully perswaded , That if ever our Coin be reduced to a state in which it may continue , to be for the interest of the English Nation , it must be effected , first , by having it coined according to the present Standard , and secondly , by taking such measures as will certainly secure it to us in that State , by making it mens interest neither to Hoard , Export , or Melt down . 3. To prevent Exporting or carrying our Coin out of England . The occasion of carrying away our Coin , is taken to be , 1. To pay the Ballance of our Trade . 2. To supply our Army in Flanders . 3. To buy Foreign Commodities , where we have no Exchange . 4. To maintain Gentlemen in their Travels abroad , till they can receive Money in Exchange . The first and third of these are reckoned the most material , the other two more inconsiderable ; the second being only while the War lasteth , and may wholly , or for the most part , be avoided by our agreeing with the Dutch , to take so much of our English Commodities , as shall be equivalent to the Expence of our Army in Flanders , and the English Merchant to be paid out of the Exchequer for such Commodities ; and the fourth , which is very inconsiderable , may be salved by the same method the first and third are . As to the first , The paying the Ballance of our Trade . The Reader is to know , That if England Export not as many Goods as it imports from all places in the World , ( reckoning the prime cost of the Foreign Goods imported , and Charges , and the selling price of those Exported , with Charges ) it must be in debt ; and in this case , the Ballance of Trade is said to run against us . That this Ballance of Trade , if it continue to run against us , runs us still farther into debt ; and if the course of Trade does not alter , that we pay this debt or Ballance with Commodities , we must pay it with Gold or Silver ; for we cannot pay it with Bills of Exchange , because that implies a Debt both ways ; as if I owe a Dutch Merchant 100 l. and another Dutch Man oweth me 100 l. I can draw a Bill on the Dutch Man that oweth me 100 l. to pay it to the Dutch Merchant , to whom I am indebted . But if I have no 100 l. owing me in Holland , nor any other place to which they Exchange , then I must pay this 100 l. in Specie , because I cannot draw a Bill . This is the common notion of the Ballance of Trade , and of carrying our Money over to pay it ; but I must confess , that unless the several Countries we trade with , kept an account of the Trade in the Gross Bulk thereof , by all the Merchants comparing Accompts of their Imports and Exports , I cannot see how this Ballance should upon any certain grounds be known . So that tho' we may pay dear for the Ballance of Trade running against us , by its being and cause of Exchange running against us , which is caused by our having occasion to pay more Sums in Foreign Parts , than they have to pay here , yet the Sums carryed over to Ballance Trade withal , are very inconsiderable if any at all . The chief occasion then of carrying away our Coin , is to buy Foreign Commodities with ( not to pay Debts , ) in places where we have no Exchange , as chiefly in the East Indies : And this is done , either because the Goods we carry thither are more bulky in proportion to their price ; so that the value of the Ships Cargoe outward , will not lade her home in Goods , whose value lye in a little room , unless Silver be taken to make it up ; for in such long Voyages , the Merchant is very unwilling to come home without a full Cargo ; or else it is done because the Merchant can go out ( supposing the Goods of like value Bulk for Bulk , ) without a full Cargo , and make up what is wanting by taking Bullion or Coin privately , which saves a great deal both in Custom outward , and in Freight . But however , let the design of taking away our Coin be what it will , it is agreed on all hands , that much of it is taken from us , and especially to carry to the East Indies , which is one great reason why I believe that Trade does us more damage than it does us good . And tho' I am a great Admirer of every thing the Ingenious and Accomplished Merchant Sir Josiah Child says , in his Discourse concerning Trade , yet I must except this of the great advantage that occurs to the English Nation , by the East India Trade ; and my chief reason for not fully conforming to his opinion in this matter , is , First , Because the Trade to the East Indies robs us of our Coin , without which 't is impossible the Nation should subsist , as we have too great proof of at this time , when no man can get 10 per Cent. of Bankers , tho' his necessities are never so pressing : And Secondly , Because the Commodities we import from India , are fully manufactured , as Silks , Muslins , and Callico's , whereby our own Artificers have no Advantage , as they have by the Turky , Hamburgh , and most other Trades . But this being partly a Digression from my Subject , I shall return to shew , That this Exportation of our Coin will be prevented , by the aforesaid reducing the value of Bullion below that of our Coin. For , As when our Coin is Richer than Bullion , i. e. a 5 shill . piece is worth as much Bullion as 5 s. 4 d. or upward , and then our Coin is more likely to be carryed away than Bullion ; so on the other hand , when Bullion is reduced as aforesaid to 5 s per ounce , it will be Richer than our Coin ( as I have shewed before , ) and consequently be more advantagious to carry away than Coin. But because , after the price of Silver is thus setled as aforesaid , it may sometimes happen , that Bullion may not be easily got to carry away , and that rather than go without , the Traders to the East Indies will carry away our Coin. Therefore , Secondly , I humbly propose , That before any Ship be permitted to Sail that is bound to the East Indies , the Governour and Committy-men of the East-India Company ( if the Ship is on their Account ) shall make Affidavit , as shall also the Master of such Ship , with his Mates and Pursur . That none of the currant Coin of England , or Bullion made thereof in all or in part , is laden or designed to be laden on Board such Ship , or otherwise to be conveyed to the said Indies , by any means directly or indirectly , to their or any of their knowledge or privity , other than permitted by Act of Parliament . And if the Ship is an Interloper , such-like Oath may be taken by the Owners , Supercargo , Captain , &c. Thirdly , And if any one shall discover any Sum so to be carryed away of English Coin , one Moiety shall be the Kings , the other the Informers . Fourthly , And if it can be proved , That any of the Company or Owners were privy to the taking away such Sums of English Coin , then the whole Ships Cargo shall be forfeited ; and if the Captain be proved privy to it ▪ ( unless he makes such Discovery , ) he shall be utterly uncapable of Commanding as Captain , any English Vessel whatsoever , and his whole Estate confiscated . But there is a Fifth occasion of carrying away our Coin , and which , next to the East India Trade , robs us of the most ; and that is , what is taken from us by the Sweeds , Danes , and Portuguese , who when they bring us of their Commodities , do not take enough of ours to Ballance the Trade with them , but take very considerable Sums of our Coin , to our great Detriment , and which I think deserves to be prevented , either by altering the Act of Navigation , that we have none of their Commodities , but what our Merchants fetch from them , or by laying severe Penalties on all such as buy their Pitch , Hemp , Tarr , &c. unless they pay with Goods of our own Manufacture . These or such-like Penalties and Encouragements will certainly prove effectual , to prevent our Coin from being Exported , or carryed out of England ; the preservation of which is of the greatest consequence to us , and deserves certainly some speedy methods to be taken in order thereto ; for otherwise all our Coining at the Mint is in vain . 4. To prevent Counterfeiting our New Coin. I had not thought to say any thing on this Head , because I judged it needless , by reason of the Difficulty of Counterfeiting our Mill'd Coin. But being since inform'd , that several considerable Sums thereof have been Counterfeited , I think it proper to say something that may ( if carefully put in practice ) be a means to prevent it . And indeed Nature it self does much favour the Detections of this villanous practice : Since it is not possible for those Counterfeiters of our Coin to make their pieces weigh as pond'rous as the true ones , because Silver is heavier than any other Metal of less value , except Lead , with which Silver will not incorporate or mix . For the weight of the several Metals Quantities being alike , are less according as they are here placed , from the heaviest downward , viz. Gold , Lead , Silver , Copper , Brass , Iron , Common Pewter , Fine Pewter , &c. The weight of Sterl . Silver to the like quantity of Copper is as 1 is to .87 Brass is as 1 is to .81 Iron is as 1 is to .77 Com. Pewt . is as 1 is to .71 Fine Pewt . is as 1 is to .69 At which rate the quantity of a Crown piece of Copper will weigh but 16 Pw. 19 grs. Brass will weigh but 15 Pw. 15 grs. Iron will weigh but 14 Pw. 21 grs. com . Pw. will weigh but 13 Pw. 17 grs. fine Pw. will weigh but 13 Pw. 8 grs. Now , that which I would infer from these Analogies of Silver to other Mettals , is to shew , how we may compute when a piece of Money is too light by Counterfeiting , and when too light by wear . As in this Table of Proportions , a false Crown Piece made of Copper , and only washed over , ( if it does not much exceed a true Crown in Bulk ) it will want 2 pw . 13 grs. the difference between 16 pw . 19 grs. and 19 pw . 8 grs. which it is impossible it should be worn lighter in 700 Years . And to prove this , I have weigh'd some of K. Charles the 2d's Crown Pieces , and find of those coined 27 Years ago , to be worn about two Grains ; now if I strike off the two Years last past , wherein this Coin could not wear much , because Hoarded ; then the Proportion will be , That a Crown Piece will wear 29 grains in 25 years . By which it may be easily gathered , what any other Piece will wear in any other number of years , which cannot be worth taking notice of in any piece under 50 or 100 years ; in which last time a Crown Piece will want but a penny of full weight , if the lightness proceed only from the wear . To instance in other Pieces , Suppose I would know what a Shilling should wear that has been coined 120 years : By this Proportion it will appear , it will but wear 1 26 / 29 Grains , which is not quite two Grains . For grains . years . grs. grs. years .   464 25 2 92 120 1 26 / 29 Grs. So that it can never countervail the trouble of Rogues and Villains , to counterfeit any Pieces of Coin , but it will be easily discovered by weight , making a sufficient Allowance both for wear and difference in weight of the same pieces , occasioned by the negligence of the Weigher at the Mint . A Crown Piece , if they should take but 6 d. in Silver out , and put the like quantity of Copper therein , this would make 7 Grains difference in the weight , between that Crown Piece and a true one , which a true Crown would not wear in less than 87 years . And if this extraordinary Alloy were Brass , or any other Metals , the want of weight would be much greater . And , if every Banker and Cashier were obliged to keep in their Publick Shops or Offices , a good pair of Scales and Weights for Silver , to be for the common use of those with whom they deal , it would be very easie to discover this Cheat , either in single Pieces or in great Sums together , allowing however a small matter for wear . And for the Assistance of those concerned , I have here inserted a Table what any Sum of our New Coin should weigh precisely , from 6 d. to 100 l. and may serve for much greater Sums ; which Table is calculated at the rate of the 5 s. piece weighing 19 pw . 8151 , 612 , 903 , 225 grains , or 19 pw . 8 grains ▪ and something more than ½ a grain .   lb . ℥ pw . gr . 6 d. 00 00 01 22 ¼ 1 s. 00 00 03 20 ¼ 2 6 d. 00 00 09 16 ¼ 5 s. 00 00 19 08 ½ 10 s. 00 01 18 17 1 l. 00 03 17 10 2 00 07 14 20 3 00 11 12 06 4 01 03 09 16 5 01 07 07 02 ¼ 6 01 11 04 12 ¼ 7 02 03 01 22 ¼ 8 02 06 19 08 ¼ 9 02 10 16 18 ½ 10 03 02 14 04 ½ 20 06 05 08 09 30 09 08 02 13 ¾ 40 12 10 16 18 ¼ 50 16 01 10 23 60 19 04 05 03 ½ 70 22 06 19 08 ½ 80 25 09 13 12 ¾ 90 29 00 07 17 ¼ 100 32 03 01 22 So that if a Person have any of these Sums to receive , it is but telling it over , and afterward put it in a Bag , and weigh it ; as if be 70 l. it must weigh 22 l. 6 ℥ . 19 pw . 8 gr . To which add the weight of a Canvas 100 l. Bag , which is commonly 1 ℥ . and so to 1 ℥ . 1 pw . and you have the true weight of 70 l. of our Milled Money and Bag ; but if any of it were counterfeit , it would want weight . And if to this be added severe Penalties on all such as offer any Counterfeit Money in payment , especially on the Goldsmiths and Bankers , who are supposed to know Money well , and are less lyable to be deceived than others : I hope it would be effectual to hinder the Currency of Counterfeit Money . For indeed , 't is too miserable and unhappy a truth , That notwithstanding the Parliament have taken such measures in the last Sessions , as would have been abundantly sufficient to cure us of the great difficulties we laboured under , by reason of the ill state of our Coin ; yet we have a sort of Men among us , I mean Bankers , who ( because these good Laws have run counter to their Self ish ends ) have endeavoured to make all those prudent Methods taken for the Regulation and Restoring our Money , of no effect , by combining together to ruine the Bank of Eugland , by getting what Bank Notes they could into their hands ; which upon the stop of the Currency of our Clipt Money , they power'd on the Bank so fast , as it was impossible they should Answer . And tho' they were disappointed in their design of quite ruining the Bank thus , yet they have made the short Payments of the Bank a sufficient Reason for making their little or none ; tho' at the same time ▪ they have very considerable Sums in Guinea's , which they either Transport to Holland or Scotland , to gain 1 s. or 18 d. a piece , or else Hoard them up , in hopes to break thro' the late Act of Parliament , for keeping the value of Guinea's at 22 s. or under . Besides , the non-payment of of their own Notes is most apparently very advantageous unto them ; and which for that reason they will never be brought to pay , till they are forc't to it by Law , or the Bank paying in full , or the plenty of Silver Mony or Guinea's , which they will therefore endeavour to stifle and retard as much as in them lyes ; since by that , they have a colour for not paying their Notes ; and by not paying their Notes , they have the more Cash out at Interest , or invested in Jewels , &c. or perhaps in monopolizing of Goods to their exceeding great advantage . All which Rogueries some ill disposed people are forward to say , The Parliament might have prevented : First , By giving longer time for bringing the Clipt Money into the Exchequer : And Secondly , By not lowering the price of Guinea's ; not considering at the same time , That we had little or no Silver Coin currant from about last Midsummer till after Christmass last , the Guinea's all that time being a sufficient Running Cash , which they would have been , till we had a sufficient quantity of our New Silver Coin , had we not had some monsters of Men among us . And as for the lowering of Guinea's 3 s. too low , which say they , is the occasion of their being carryed to Holland , Scotland , and Ireland , because they go there for 23 s. 24 s. and 25 s. each . I say in Answer , that it was but reasonable to conclude , that as the high price of Guinea's in England , was the occasion of their Rise in these three places ; so the lowering of our own Coin should have caused these Nations to do the like , which it has done in part : And no doubt , but so long as we can have Gold as now , at near 4 l. per ℥ . if the Parliament should think fit to permit the Coining of more Guinea's , we might afford to let the Dutch or others take them from us at 23 s. till they are weary ; for we shall gain considerably by them at this Rate , as we do also in the way of Trade ; which the Dutch are not so blind ( whatever the Irish are ) but they will soon perceive , and value our Guinea's no higher , if so high as we do . But , if every body were on my mind , unless these Bankers could make it appear by their Books , and their own Oaths , that they cannot make their Payments , I would quickly make them tir'd with the Trade of Cheating ; for if a Man has receiv d a Sum of Money of another , for which he has given his Note to repay at demand , I think 't is but reasonable , that if this Demand is made , and the Money is not paid , the Lender should have the Improvement of that Money from the time such Demand is made ▪ and I doubt not but a Court of Equity wou'd give it , and which if duly prosecuted , would soon make these Sparks weary of their Trade of Cheating , in hindering what they can the Current Money 〈◊〉 to the destruction of Commerce , and ruine of this Rich and Flourishing Island . So that upon the whole , I humbly conceive , That the readiest way to have plenty of good Money current , is either totally to put down the Bankers Trade , or to abridge them of that Power which they knavishly make use of , to the great detriment of the Nation ; but on the other hand ▪ if Rounds were set to the practice of Bankers , and 〈◊〉 made more effectually , to prevent Melting down , Exporting and Counterfeiting our Coin , we should in a short time , notwithstanding the War , and malice of our Enemies , be one of the happiest Nations the Sun sees . FINIS . 
A48893	----	Short observations on a printed paper, intituled, For encouraging the coining silver money in England, and after for keeping it here Locke, John, 1632-1704. 1695 Approx. 31 KB of XML-encoded text transcribed from 13 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2003-01 (EEBO-TCP Phase 1). A48893 Wing L2758 ESTC R20204 12402506 ocm 12402506 61293 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A48893) Transcribed from: (Early English Books Online ; image set 61293) Images scanned from microfilm: (Early English books, 1641-1700 ; 767:43) Short observations on a printed paper, intituled, For encouraging the coining silver money in England, and after for keeping it here Locke, John, 1632-1704. 24 p. Printed for A. and J. Churchill ..., London : 1695. Caption title. Advertisement: p. 24. Reproduction of original in Huntington Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. 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Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England. 2002-06 TCP Assigned for keying and markup 2002-07 Apex CoVantage Keyed and coded from ProQuest page images 2002-08 John Latta Sampled and proofread 2002-08 John Latta Text and markup reviewed and edited 2002-10 pfs Batch review (QC) and XML conversion SHORT Observations ON A Printed PAPER , Intituled , For encouraging the Coining Silver Money in England , and after for keeping it here . London , Printed for A. and J. Churchill , at the Black Swan in Pater-Noster-Row . 1695. THE Author says , Silver yielding the propos'd 2 d. or 3 d. more by the Ounce , than it will do by being Coin'd into Money , there will be none Coin'd into Money ; and matter of Fact shews there 〈◊〉 none . 'T would be hard to know what he means , when he says , Silver yields 2 d. or ●…d . more by the Ounce , than it will do by being Coin'd into Money : But that he tells us in plain words at the bottom of the Leaf , that an Ounce of Silver uncoin'd , is of 2 d. mor● value , than after it is Coin'd it will be which I take the liberty to say , is so far from being true , that I affirm it is impossible to be so . For which I shall only give this short reason , viz. Because the Stamp neither does nor can take away any of the intrinsic value of the Silver and therefore an Ounce of Coin'd standard Silver , must necessarily be of equal value to an Ounce of uncoin'd standard Silver . For example ; suppose a Goldsmith has a round Plate of standard Silver just of the shape , size and weight of a Coin'd Crown-piece , which , for brevity's sake , we will suppose to be an Ounce this Ounce of standard Silver is certainly of equal value to any other Ounce of unwrought standard Silver in his shop ; away he goes with his round piece of Silver to the Tower , and has there the Stamp set upon it ; when he brings this numerical piece back again to his shop Coin'd , can any one imagine that it is now 2 d. less worth than it was when he carried it out smooth a quarter of a● hour before , or that it is not still of equa● value to any other Ounce of unwrough● standard Silver in his shop ? He that can say 't is 2 d. less worth than it was before it had the King's Image and Inscription on it , may as well say , that 60 grains of Silver brought from the Tower , are worth but 58 grains of Silver in Lombard-street . But the Author very warily limits this ill effect of Coinage only to England ; why it is so in England , and not every where , would deserve a reason . But let us grant it to be true , as our Author affirms , that Coined Silver in England is 1 / 30 worse , or of less value than uncoin'd , the natural Consequence from this , if it be true , is , that it is very unfit that the Mint should be employ'd in England , where it debases the Silver 1 / 30 ; for if the Stamp lessens the value of our Silver this year , it will also do so the next , and so on to the end of the world , it always working the same way . Nor will the altering the Denomination , as is propos'd , at all help it . But yet he thinks he has some proof for his Proposition , because it is matter of Fact that there is no Money Coin'd at the Mint . This is the great Grievance , ●nd is one indeed , but for a different ●eason from what seems to inspire that ●aper . The matter in short is this ; England ●ending more consumable Commodities to Spain , than it receives from thence . The Merchants who manage that Trade , bring back the overplus in Bullion , which at their return they sell as a Commodity . The Chapmen that give highest for this , are , as in all Cases of Buying and Selling , those who can make most pro●… by it , and those are the Returners of ou●… Money by Exchange into those Countries where our Debts any way contracted make a need of it ; for they getting 6 , 8 , 10 , &c. per Cent. according to the want and demand of Money fro●… England there , and according to th●… risque of the Sea , buy up this Bullion 〈◊〉 soon as it comes in , to send it to th●… Correspondents in those Parts , to ma●… good their Credit for the Bills they ha●… drawn on them , and so can give mo●… for it than the Mint rate , i. e. more th●… an equal weight of Mill'd Money , for 〈◊〉 equal weight of standard Bullion , th●… being able to make more profit of it 〈◊〉 Returns . Suppose the balance of our Tr●… with Holland were in all other Com●…dities equal , but that in the last East-I●… Sale we bought of them of East-I●… Commodities to the value of a Milli●… to be paid in a month ; within a mo●… a Million must be return'd into Holl●… this presently raises the Exchange , and the Traders in Exchange sell their Bills at high rates ; but the balance of Trade being ( as is suppos'd in the case ) equal in all other Commodities , this Million can no way be repaid to their Correspondents on whom those Bills were drawn , but by sending them Money or Bullion to reimburse them . This is the true reason why the Bullion brought from Spain is not carried ●…o the Mint to be Coin'd , but bought by Traders in Foreign Exchange , and exported by them to supply the overplus of our Expences there , which are not paid ●…or by our Commodities . Nor will the propos'd raising of our Money , as 't is call'd , whether we Coin our Money for the ●…uture 1 / 30 , or 1 / 20 , or ½ lighter than now 〈◊〉 is , bring one Ounce more to the Mint ●…an now , whil'st our Affairs in this respect remain in the same posture . And challenge the Author to shew that it ●…ill , for saying is but saying ; Bullion ●…an never come to the Mint to be Coin'd , whil'st the over-balance of Trade ●…nd Foreign Expences are so great , that 〈◊〉 satisfy them , not only the Bullion ●…our Trade in some parts now yearly ●…ings in , but also some of your former●… Coin'd Money is requisite , and must be sent out ; but when a change in th●… brings in and lodges Bullion here , ( fo●… now it seems it only passes throug●… England ) the increase of Silver and Gold staying in England , will again bring it t●… the Mint to be Coin'd . This makes it easily intelligible how i●… comes to pass , that when now at th●… Mint they can give but 5 s. 2 d. p●… Ounce for Silver , they can give 5 s. 4 〈◊〉 the Ounce ( in Lombard-street , which 〈◊〉 what our Author means when he say●… Silver now is worth but 5 s. 2 d. the O●… at the Mint , and is worth 5 s. 4 d. el●… where ) . The reason whereof is plai●… viz. because the Mint giving weigh●… Money for Bullion , can give so mu●… and no more for Silver than it is Coin'd at , which is 5 s. 2 d. the Ounce , 〈◊〉 Publick paying all the odds that is 〈◊〉 tween the coin'd and uncoin'd Silver which is the Manufacture of Coinag●… But the Banker or Returner of Mo●… having use of Silver beyond Sea , wh●… he can make his profit of it by answ●…ing Bills of Exchange , which he 〈◊〉 dear , must either send our Money 〈◊〉 specie , or melt down our Coin to tr●… sport , or else with it buy Bullion The sending our Money in specie , 〈◊〉 melting it down , has some hazard , a●… therefore if he could have Bullion for 5 s. 2 d. per Ounce , or a little dearer , 't is like he would always rather chuse to ●…xchange Coin for Bullion , with some little loss , rather than run the risque of melting it down , or Exportation . But this would scarce make him pay 2 d. in the Crown , which is almost 3½ per Cent. if there were not something more in it , than barely the risque of melting or Exportation ; and that is the lightness of the greatest part of our Currant Coin. For Example : N. has given Bills for 30000 l. sterling in Flanders , and so has need of 10000 weight of Silver to be transported thither ; he has ●…0000 l. sterling by him in ready money , whereof 5000 l. is weighty Mill'd Money , what shall hinder him then from throwing ●…hat into his Melting-Pot , and so reducing 〈◊〉 to Bullion , to be transported ? But what ●…hall he do for the other 25000 l. which ●…ho he has by him , is yet in clipp'd and ●…ght Money , that is at least 20 per Cent. ●…ghter than the standard ? If he transports 〈◊〉 melts down this , there is so much clear ●…ofs to him ; it is therefore more advan●…age to him to buy Bullion at 5 s. 4 d. the Ounce with that light Money , than to ●…ansport or melt it down ; wherein tho ●…e Seller of the Bullion has less weight in Silver than he parts with , yet he finds his Accompt as much as if he received it in weighty Coin , whil'st a clipp'd Crown-piece or Shilling passes as well in payment for any Commodity here in England as a Mill'd one . Thus our Mint is kep●… from Coining . But this Paper , For encouraging the Coining , &c. would fain have the Mill a●… work , though there be no Grist to be had , unless you will grind over agai●… what is ground already , and pay To●… for it a second time ; a Proposition fit only for the Miller himself to make ; s●… the meanest Housewife in the Count●… would laugh at it as soon as propos'●… However the Author pleases himself , an●… thinks he has a good Argument to ma●… it pass , viz. because the Toll to be pai●… for it will not amount to 330000 l. as●… said in a late Treatise about the rais●… the value of Money , ( p. 170. ) for , say●… he , that Writer is mistaken , in sayi●… that 3 s. and 6 d. is allowed at the Mint f●… the Coinage of every pound Troy , where there is but 16d½ there allowed for the sa●… which 16d½ being above ⅓ of 3 s. 6 d. 〈◊〉 follows by his own Computation , th●… the new Coining our Money will cost th●… Nation above 110000 l. a small Sum i●… this our plenty of Riches , to be laid o●… for the purchasing these following Inconveniencies without any the least advantage . 1. A loss to the King of 1 / 50 ( if you Coin your Money 2 d. per Crown , 1 / 20 if you Coin your Money 3 d. per Crown lighter ) of all his standing Revenue . 2. A like loss of 1 / 20 or 1 / 30 in all Rents that are setled , for these have , during the term , the nature of Rent-seck : But 5 per Cent. loss in a man's Income he thinks so little , it will not be perceived . 3. Trouble to Merchants in their Trade . These Inconveniencies he is forced to allow . He might have said disorder to all People in their Trade , though he says it will be but a little trouble to Merchants , and without any real damage to Trade . The Author would have done well to have made out this and a great many other Assertions in that Paper ; but saying is much easier , if that may pass for Proof . Indeed he has , by a short way , answer'd the Book abovementioned , in the conclusion of his Paper , in these words : And he that so grosly mistakes in so materials Points of what he would assert , 't is plain is not free from mistakes . It does not appear that he who published that Book , ever thought himself free from mistakes ; but he that mistakes in two material Points , may be in the right in two others , and those will still need an Answer . But one of these material Points will , I think , by what is already said , appear not to be a mistake ; and for any thing the Author of the Paper has said , or can say , it will always be true , that an Ounce of Silver Coin'd or not Coin'd , is , and eternally will be of equal value to any other Ounce of Silver . As to the other mistake , concerning the rate of Coinage , 't is like he had his information from some disinteressed person whom he thought worthy of credit , and whether it be 3 s. 6 d. as he was told , or only 16d½ per pound Troy , as the Paper says , whether the Reader will believe the one or the other , or think it worth his more exact enquiry , this is certain , the Kingdom ought not to be at that or any other Charge where there is no advantage , as there will be none in this propos'd Coinage , but quite the contrary . In his Answer to Object . 1. He says from Edw. III. Silver has from time to time ( as it grew in esteem ) been by degrees raised in all Mints . If an Ounce of Silver now not exchanging or paying for what 1 / 10 of an Ounce would have purchased in Edw. III's time , and so being ten time less worth now than it was then , be growing in esteem , this Author is in the right , else Silver has not since Edw. III's . Reign , from time to time grown in esteem . Be that as it will , he assigns a wrong Cause of raising of Silver , as he calls it in our Mint . For if growing thus in request , i. e. by lessening its value , had been the reason of altering our Money , this change of Coin , or raising the denomination of Silver in ours and other Mints , ought to have been greater by much since Henry VII's . time , than it was between that and Edw. III's . because the great change of the value of Silver has been made , by the plenty of it pour'd into this part of the World from the West-Indies , not discover'd till Henry VII's . Reign . So that I think I may say that the value of Silver from Edw. III. to Henry VII . changed not 1 / 10 , but from Henry VII . till now it chang'd above 7 / 10 , and yet Money having been raised in our Mint ⅔ since Edw. III's . time , the far greater part of the raising of it was before Henry VII's . time , and a very small part of it since ; so that the cause insinuated by our Author , 't is evident , was not the cause of lessening our Coin so often , whatever was it : and 't is possible there wanted not men of Projects in those days , who for private ends , by wrong Suggestions , and false Reasonings , cover'd with mysterious terms , led those into mistakes , who had not the time and will nicely to examine , tho a Crown piece three times as big as one of ours now might , for its size alone , deserve to be reformed . To Object . 2. He says , The raising the Denomination of Money in Spain and Portugal , was making it go for more when Coin'd , than its true value . This , I say , is impossible , and desire the Author to prove it . It did in Spain and Portugal , just what it will do here and everywhere , it made not the Silver Coin'd go for more than its value in all things to be bought , but just so much as the Denomination was raised , just so much less of Commodity had the Buyer in exchange for it : As it would be here , if you should Coin Six-pences into Shillings , if any one went to Market with this new Money , he would find that whereas he had a Bushel of Wheat last Week for Eight Shillings of the former Coin , he would have now but half a Bushel for Eight of the new Shillings , when the same Denomination had but half the quantity of Silver . Indeed those who were to receive Money upon former Contracts , would be defrauded of half their due , receiving in their full tale of any Denomination contracted for , but half the Silver they should have ; the Cheat whereof they would find , when they went to Market with their new Money . For this I have above proved , that one Ounce of Silver is , and eternally will be equal in value to another Ounce of Silver ; and all that can possibly put a difference between them , is only the different value of the workmanship bestow'd on one more than another , which in Coinage our Author tells us in this Paper is but 16½d . per pound Troy. I demand therefore of our Author , to shew that any sort of Coinage , or , as he calls it , raising of Money , can raise the value of Coin'd Silver , or make it go for more than uncoin'd , bating the charge of Coinage , unless it be to those who being to receive Money upon former Contracts , will , by receiving the tale agreed for , receive less than they should of Silver , and so be defrauded of what they really contracted for . What effect such a raising of their Money had in one Particular , I will tell our Author . In Portugal they count their Money by Reys , a very small , or rather imaginary Coin , just as if we here should count all our Sums by Farthings . It pleased the Government , possibly , being told that it would raise the value of their Money to raise in Denomination the several species , and make them go for a greater ( let us suppose double the ) number of Reys than formerly . What was the Consequence ? It not only confounded the Property of the Subject , and disturbed Affairs to no purpose ; but Treaties of Commerce having setled the Rates of the Customs , as so many Reys on the several Commodities , the King immediately lost in value half his Customs . The same that in proportion will happen in the setled Revenue of the Crown here upon the proposed change . For tho' our Author in these words , Whereas all now desir'd by this Act is , to keep Silver when Coin'd of the same value it was before , would insinuate , that this raising the Denomination , or lessening our Coin , as is propos'd , will do no such thing ; yet 't is demonstration , that when our Coin is lessen'd 3 d. in 5 s. the King will receive 5 per Cent. less in value in his Customs , Excise , and all his setled Revenue , and so proportionably , as the quantity of Silver in every species of our Coin shall be made less than now it is Coin'd in those of the same Denomination . But whatever our Author means by making Money go for more when Coin'd than its true value , or by keeping Silver when Coin'd of the same value it was before ; This is evident , that raising their Money thus by Coining it with less Silver in it than it had before , had not the effect in Portugal and Spain , which our Author proposes from it here : For it has not brought one Penny more to the Mint there , nor kept their Money or Silver from Exportation since , tho' forfeiture and death be the Penalties join'd in aid to this trick of raising to keep it in . But our Author tells us in Answer to Object . 4. This will scarce ever at all be perceived . If of 100 Guinea's a man has in his Pocket , 5 should be picked out so as he should not perceive it , the fraud and the loss would not be one jot the less ; and tho' he perceived it not when or how it was done , yet he will find it in his Accompts , and the going so much back in his Estate at the end of the year . To the 3d Objection he says , The raising your Coin ( it may be ) may raise the price of Bullion here in England . An Ounce of Silver will always be equal in value to an Ounce of Silver everywhere , bating the workmanship . I say it is impossible to be otherwise , and require our Author to shew it possible in England , or any where , or else hereafter to spare his may be 's . To avoid Fallacies , I desire to be understood , when I use the word Silver alone , to mean nothing but Silver , and do lay aside the consideration of baser Metals that may be mixed with it : For I do not say that an Ounce of standard Silver that has almost 1 / 12 of Copper in it , is of equal value with an Ounce of fine Silver that has no alloy at all , but that any two Ounces of equally alloid Silver , will always be of equal value ; the Silver being the measure of Commerce , 't is the quantity of Silver that is in every piece he receives , and not the Denomination of it which the Merchant looks after , and values it by . But this raising of the Denomination our Author would have pass , because 't will be better for the Possessors of Bullion , as he says Answ. 3. But who are they who now in England are possess'd of so much Bullion ? Or what private men are there in England of that consideration , that for their advantage all our Money should be new Coin'd , and of a less weight , with so great a charge to the Nation , and loss to His Majesties Revenue ? He farther adds , Answ. 3. It doth not thence inevitably follow , it will raise the price of Bullion beyond Sea. It will as inevitably follow , as that 19 Ounces of Silver will never be equal in weight or worth to 20 Ounces of Silver : So much as you lessen your Coin , so much more must you pay in tale as will make up the quantity of Silver the Merchant expects for his Commodity , under what Denomination soever he receives it . The Clothier thus buying his Spanish Wooll , Oil and Labour at 5 per Cent. more in Denomination , sells his Woollen Manufacture proportionably dearer to the English Merchant , who exporting it to Spain , where their Money is not changed , sells it at the usual Market rate , and so brings home the same quantity of Bullion for it which he was wont , which therefore he must sell to you at the same raised value your Money is at : And what then is gain'd by all this ? The Denomination is only chang'd to the prejudice of the Publick , but as to all the great matters of your Trade , the same quantity of Silver is paid for Commodities as before , and they sold in their several Foreign Markets for the sa●… quantity of Silver . But whatever h●… pens in the rate of Foreign Bullion , 〈◊〉 raising of the Denomination of 〈◊〉 Money , will bring none of it to 〈◊〉 Mint to be Coin'd ; That depends on 〈◊〉 Balance of our Trade , and not on 〈◊〉 sening our Coin under the same De●… mination : For whether the Pieces 〈◊〉 call Crowns be Coin'd 16 , 24 , or 〈◊〉 Grains lighter , it will be all one as the value of Bullion , or the bring●… more or less of it into England , or to 〈◊〉 Mint . What he says in his Answer to 〈◊〉 ject . 4. besides what we have already ●…ken notice of , is partly against his 〈◊〉 and partly mistake . 1. He says , It may be some ( as i●… now ) Gain to those that will venture 〈◊〉 melt down the milled and heavy Money 〈◊〉 Coin'd . That men do venture to m●… down the mill'd and heavy Money , evident , from the small part of m●… Money is now to be found of that gr●… quantity of it that has been Coin'd ; a●… a farther evidence is this , that mi●… Money will now yield 4 or 5 m●… per Cent. than the other , which must to melt down , and use as Bullion , a●… not as Money , in ordinary payme●… The reason whereof is , the shameful and ●…orrible debasing ( or as our Author ●…ould have it raising ) our unmilled Mo●…ey by Clipping . For the odds betwixt Mill'd and un●…ill'd Money being now , modestly speak●…g , above 20 per Cent : and Bullion , for ●…easons elsewhere given , being not to be ●…d , Refiners , and such who have need of ●…lver , find it the cheapest way to buy ●…ill'd Money for Clipp'd , at 4 , 5 , or more per Cent. loss . I ask therefore this Gentleman , What ●…all become of all our present mill'd and ●…eavy Money , upon the passing of his ●…ct ? To which his Paper almost con●…sses what I will venture to answer for ●…m , viz. That as soon as such a Law is ●…ssed , the mill'd and heavy Money will 〈◊〉 be melted down ; for it being 5 per ●…nt . heavier , i. e. more worth than what to be Coin'd in the Mint , no body ●…ll carry it thither to receive 5 per Cent. ●…s for it , but sell it to such as will give ●…or 4½ per Cent. more for it , and at that ●…e melt it down with advantage : For Lombard-street is too quick-sighted to give 〈◊〉 Ounces of Silver for 57 Ounces of ●…ver , when bare throwing it into the ●…elting Pot , will make it change for its ●…ual weight ; so that by this Law 5 per Cent. Gain on all our Mill'd Money , will be given to be shared between the Possessor and Melter of our Mill'd Money , out of the honest Creditor and Landlord's Pocket , who had the guaranty of the Law , that under such a tale of pieces of such a Denomination as he let his Land for , he should have to such a value , i. e. such a weight in Silver . Now I ask whether it be not a direct and unanswerable Reason against this Bill , that he confesses that it will be a Gain to those who will melt down the Mill'd and heavy Money with so much loss to the Publick and not , as he says , with very small loss to those that shall be paid in the new , unless he calls 5 per Cent. very small loss , for just so much is it to receive but 5●… Grains or Ounces of Silver for 60 , which is the proportion in making your Crown 3 d. lighter . This is certain , no body will pay away Mill'd or weighty Money for Debts or Commodities , when it wi●● yield him 4 or 5 per Cent. more ; so that which is now left of weighty Money being scatter'd up and down the Kingdom into private hands , which cann●● tell how to melt it down , will be kep● up and lost to our Trade . And as to your Clipp'd and light Money , will yo● make a new Act for Coinage , withou● taking any care for that ? The making a new standard for your Money , cannot do less than make all Money which is lighter than that standard unpassable , and thus the Mill'd and heavy Money not coming into payment , and the light and Clipp'd not being lawful Money , according to the new standard , there must needs be a sudden stop of Trade , and , 't is to be fear'd , a general confusion of Affairs , though our Author says , it will not any ways interrupt Trade . 2. The latter part of this Section about raising the value of Land , I take the liberty to say is a mistake ; which though a sufficient Reply to an Assertion without Proof , yet I shall not so far imitate this Author , as barely to say things : And therefore I shall add this Reason for what I say , viz. because nothing can truly raise the value , i. e. the Rent of Land , but the increase of your Money ; but because raising the value of Land is a Phrase which , by its uncertain sense , may deceive others , we may reckon up these several meanings of it . 1. The value of Land is raised , when its intrinsick worth is increased , i. e. when it is fitted to bring forth a greater quantity of any valuable Product . And thus the value of Land is raised only by good Husbandry . 2. The value of Land is raised , when remaining of the same Fertiliy , it comes to yield more Rent , and thus its value is raised only by a greater plenty of Money and Treasure . 3. Or it may be raised in our Author's way , which is , by raising the Rent in tale of pieces , but not in the quantity of Silver received for it , which , in truth , is no raising of it at all , no more than it could be accounted the raising of a man's Rent , if he let his Land this year for 40 Sixpences , which last year he let for 20 s. Nor would it alter the Case , if he should call those 40 Sixpences 40 s. for having but half the Silver of 40 s. in them , they would be but of half the value , however their Denomination were changed . In his Answer to the 5th Objection , there is this dangerous Insinuation , That Coin in any Country where it is Coin'd goes not by weight , i. e. has its value from the stamp and denomination , and not the quantity of Silver in it . Indeed in Contracts already made , if your species be by Law Coin'd a fifth part lighter , under the same denomination the Creditor must take 100 such light Shillings , or 20 such light Crown-pieces for 5 l. if the Law calls them so , but he loses ⅕ in the intrinsick value of his Debt . But in Bargains to be made , and things to be purchased , Money has and will always have its value from the quantity of Silver in it , and not from the stamp and denomination , as has been already proved , and will some time or other be evidenced with a witness in the Clipp'd Money . And if it were not so , that the value of Money were not according to the quantity of Silver in it , i. e. that it goes by weight , I see no reason why Clipping should be so severely punished . As to Foreigners he is forced to confess , that 't is all one what our Money is , greater or less , who regard only the quantity of Silver they sell their Goods for , How then can the lessening our Money bring more plenty of Bullion into England , or to the Mint ? But he says , The Owners and Importers of Silver , will find a good Market at the Mint , &c. But always a better in Lombard-street , and not a Grain of it will come to the Mint , as long as by an under-balance of Trade , or other Foreign Expences , we contract Debts beyond Sea , which require the remitting of greater Sums thither than are imported in Bullion . If for above Forty Years after Silver was raised in the 43 of Eliz. from 5 s. to 5 s. 2 d. the Ounce , uncoin'd Silver was not worth above 〈◊〉 per Ounce ; the cause was not that raisi●… ver in the Mint , but an over-balance 〈◊〉 which bringing in an increase of Silver 〈◊〉 which men having no occasion abroad , 〈◊〉 to the Mint to be Coin'd , rather than 〈◊〉 dead by them in Bullion ; and when ev●… the Case again in England , it will occas●… again , and not till then . No Money was in 〈◊〉 Exported , says he , no nor Bullion neither , s●… should , or how could it , when our Exp●… chandize paid for all the Commodities 〈◊〉 home , with an overplus of Silver and G●… staying here set the Mint on work . Bu●… sing this Bill , will not hinder the Exp●… one Ounce either of Bullion or Mo●… must go if you contract Debts beyond 〈◊〉 how it s having been once melted in England is another thing propos'd in this Bill , 〈◊〉 its Exportation , is hard to conceive , 〈◊〉 Coining has not been able to do it , a●… strable , if it be examined , what vast Su●… Money have been Coined in the two 〈◊〉 and how little of it is now left . Beside●… Exportation of Bullion should be broug●… any greater difficulty than of any othe●… dity , it is to be considered wherher 〈◊〉 ment of that Trade which is in skilful 〈◊〉 not thereupon be so ordered , as to divert●… coming to England for the future , and 〈◊〉 be sent from Spain , directly to those pl●… they know English Debts will make it 〈◊〉 Accompt , to answer Bills of Exchange ●…ther . FINIS . ADVERTISEMENT . SOme Considerations of the Consequ●… Lowering of Interest , and Raising the Money . In a Letter to a Member of P●… Sold by Awnsham and John Churchill . 
A52728	----	The best way of disposing of hammer'd money and plate as well for the advantage of the owners thereof, as for raising one million of money, in (and for the service of) the year 1697. By way of a lottery. Neale, Thomas, d. 1699? 1697 Approx. 8 KB of XML-encoded text transcribed from 2 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2004-03 (EEBO-TCP Phase 1). A52728 Wing N336 ESTC R216884 99828601 99828601 33031 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A52728) Transcribed from: (Early English Books Online ; image set 33031) Images scanned from microfilm: (Early English books, 1641-1700 ; 1931:17) The best way of disposing of hammer'd money and plate as well for the advantage of the owners thereof, as for raising one million of money, in (and for the service of) the year 1697. By way of a lottery. Neale, Thomas, d. 1699? 1 sheet (2 p.) Printed Feb. 4. 1676/7. Reprinted, with amendments, [[London?] : Feb. 20. 1696/7 [1697]] Signed at end: T. N. = Thomas Neale. Imprint from colophon. Place of publication from Wing. Reproduction of the original in the Hunterian Museum, Glasgow University Library, Glasgow, Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Lotteries -- England -- Early works to 1800. Coinage -- England -- Early works to 1800. 2003-12 TCP Assigned for keying and markup 2003-12 Aptara Keyed and coded from ProQuest page images 2004-01 Mona Logarbo Sampled and proofread 2004-01 Mona Logarbo Text and markup reviewed and edited 2004-02 pfs Batch review (QC) and XML conversion The best way of Disposing of Hammer'd Money and Plate , as well for the Advantage of the Owners thereof . As for Raising One Million of Money , In ( and for the Service of ) the Year 1697. By way of a LOTTERY . WHerein the Benefits will be the same , and as many for once , as were had in the Million Adventure ; and the Blanks ( being each to be paid Ten Pound in New Money ) will also be Prizes , to be paid sooner or later as Chance shall determine ; but all to be cleared in One Year . The Proposal is : That 100000 Tickets , Numbred from 1 to 100000 , be given out at 10 l. per Ticket , to such as shall Voluntarily bring in their Money before the 24th of Iune , 1697. to make up the Million aforesaid . That New Mill'd Money , or Hammered Silver Money , and Plate with the Hall Mark upon 't , or otherwise Sterling , shall be taken in , and Received at 6 s. an Ounce for such Tickets . That a Rebate ( as was in the Million Lottery ) after the Rate of 14 per Cent. be allowed for so many Days as the Money shall be paid in before the 24th of Iune , 1697. That the Benefits , as well as the Blanks ( which , considering the Advantages given to every Adventurer , may well be called Prizes ) shall all be paid off in one Year , and in Course , which may thus be ascertain'd , viz. Before the Drawing begins 100 Tickets , Numbred from 1 to 100. signifying the first , second and third ( and so to 100 ) thousand , shall be put and well mixt in a Glass , and thence Drawn , and such Number as comes first ( and so successively ) out , shall entitle the Owner of the Benefits and Blanks Comprised in such 1000 , to be first paid off and cleared . And that the not yet paying the Tickets last Michaelmas due in the late Million Adventure . Nor the fear of its not being Full , and that thereby the Benefits might come to be any way lessened , may in no sort Discourage the bringing in the Money , and that very quickly into 't : Note , The not paying those Tickets , was not only occasioned by an Undertaking that failed , but by a real Deficience in the Fund that was given , for the first Three Years paying thereof , and the like cannot be supposed can any way happen at all in the Fund herein after proposed for this ; and every Adventurer for His or Her Satisfaction , may be pleased to take Notice , that a Duty is Voted already on Leather , to pay off the Tickets in the Million Adventure , and Annuities due , and by which they 'll be certainly paid . And to the other Objection , Answ. What Number of Tickets of the said 100000 shall not be took out , and paid for by particular Persons , before the 24th of Iune , 1697. may either be paid out as Money , or without any Loss to the Publick ( and therefore will ) be taken and paid for out of the Money that shall be first Raised from the Duty , to be given for the thus supplying this Million . The Duty proposed , is Four Shillings a Quarter on all Malt that shall be found in the Possession of common Maltsters , Brewers , or any sort of Retailers of Malt , on the 26 of March , 1697. and on all other Malt whatsoever , which shall after be made in that Year ; and it being so Charged , 't is hoped it may Raise within the Year a Million of Money : And if it may so be given for two Years as aforesaid , the First Million may go for the War , and the Remainder for the Civil List , which on this Fund ( if so given ) may depend on 600000 l. But If the Malt already made be not Charged , and the Duty given is but to continue One Year , what already is made will hold out the best part of the Year , and People will make but what they needs must , till the Tax ends , if it does so at Lady-day , 1698 , and make up their Stores afterwards , and so Defeat much of the Duty , 〈…〉 ssest of the Malt , and 〈…〉 and yet the People , that spend it , will pay it . And that its being Rated at Two Pounds and a half per Cent , ( which I count to be 6 d. per Quarter ) as Stock in the Capitation Act , may be no Reason sufficient to hinder its paying this Duty , it may be Enacted , That such Malt as shall so be found made on the 26 of March 1697 , instead of Four , may be Rated at Three Shillings only per Quarter ; and if it so b● Enacted , instead of paying Two and a half per Cent , for such Stock , the Owners thereof will have Two and a half per Cent given them ; and so can have no Cause to complain . The Benefits being 40000 l. will be divided thus ; To the first Number Drawn , besides the Benefit may come up with it — 150 l. One Ticket of — 1000 l. 9 of each 500 l. — 4500 l. 20 of each 100 — 2000 l. 80 of each 50 — 4000 l. 90 of each 25 — 2250 l. 300 of each 20 , and — 6000 l. 2000 of each 10 , Besides their own 10 l. a piece — which every Blank also will have . — 20000 l. 2500 — The last Ticket Drawn , besides the Benefit may come up with it — 100 l. Money 40000 l. Now , forasmuch as the Advantage in other Acts , given to such as shall bring Hammered Silver-Money , and Plate , before the Fourth Day of Novemb. 1697 , to His Majesty's Mints , to be Coyn'd , are considerably less than what are in this sort of Adventure proposed . And that the Tickets , both Benefits and Blanks , are all to be paid in One Year , in Course , as aforesaid , and some of them soon after 't is drawn ; which may be in Iuly 1697 , and Fourteen per Cent , 'till that time allowed . And that the Tickets first taken out , may so be contrived , as to be made triable , at the Transfer-Office . in Lombard-street , Gratis , without any more ado , or other Examination at all ; and that a Register , how every 1000 Tickets , as well Prizes as Blanks , stand in Course to be paid , may Monthly be Printed , and always there affixed to be seen . Such Tickets took out , ( if the Fund be so fixed as aforesaid ) will be better than Money 'till the 24th of Iune next ; and afterwards also , on an easie Rebate , as good to those that desire it ; and thereby much increase the Specie of Money , 'till the said Tickets are paid , and therefore ought to be wished ; and for the Reasons aforesaid , it can hardly be doubted , but 't will really do , if so be that it comes to be tried . Printed Feb. 4. 1696-67 . Reprinted , with Amendments , Feb. 20. 1696-97 T. N. Notes, typically marginal, from the original text Notes for div A52728-e10 Blanks to be Prizes and paid in a Year . Proposal . Silver 6 s. the Ounce . Rebate at 14 per Cent. Course of Payment all in a Year . Why the old Tickets remained so long unpaid , and how they will be paid off & cleared . This must and will be thus certainly Full. The Duty is 4 s. a Quarter on Malt. Proposed the 1st year for the War , the 2d for the C●vil List. Why the Malt already made should be Charg'd , & Why the 2 and a half per Cent. upon Stock should not Excuse it . Benefits . The Reasons for its taking Effect . The Tickets better then Money till Drawn , and if afterward Blank within a very small matter as good . 
A52732	----	A proposal concerning the coin Neale, Thomas, d. 1699? 1695 Approx. 4 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2004-03 (EEBO-TCP Phase 1). A52732 Wing N348 ESTC R216419 99828150 99828150 32577 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A52732) Transcribed from: (Early English Books Online ; image set 32577) Images scanned from microfilm: (Early English books, 1641-1700 ; 1856:05) A proposal concerning the coin Neale, Thomas, d. 1699? 1 sheet ([1] p.) s.n., [London? : 1695] Signed at end: T.N., i.e. Thomas Neale. Imprint from Wing. Reproduction of the original in the Goldsmiths' Library, University of London. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng England and Wales. -- Public General Acts. 7 Wil.III.c.1 -- Early works to 1800. Coinage -- England -- Early works to 1800. Coinage -- Economic aspects -- Early works to 1800. 2003-12 TCP Assigned for keying and markup 2003-12 Aptara Keyed and coded from ProQuest page images 2004-01 Mona Logarbo Sampled and proofread 2004-01 Mona Logarbo Text and markup reviewed and edited 2004-02 pfs Batch review (QC) and XML conversion A Proposal concerning the COIN . THE best Expedient to hinder ( as the Proposer conceives ) the going out o● our Silver whilst we have any Gold , is to make it the Interest of those that deal in them , both to melt down and export as well the one as the other , ( if they may not be Exported in Coin ) for melted down and Exported they 'l be , let what Law soever be made to the contrary , unless the Occasions beyond Sea can otherwise be better supply'd . For the Explaining whereof , such Gentlemen as do not yet know it , may by this be informed , that in the Spanish Dominion , whence most of the Gold and Silver does come , and where for that Reason the Proportion in value is originally set , and must through the rest of the World be allowed , is as 16 to 1 , and so 4 Guinea's coined at 20 s. each , ( as they are in this Kingdom ) comes to 4 l. Sixteen Crowns coin'd at 5 s. each comes to 4 l. So 16 Crowns is equal to 4 Guinea's . Now suppose 4 Guinea's coin'd of the same weight they now are , should by Authority be reckon'd at 1 l. 4 s. apiece , they come to 4 l. 16 s. Sixteen Crowns coin'd at 5 s. if made by Authority to pass for 6 s. then 16 Crowns comes to 4 l. 16 s. Which makes the Par equal betwixt Silver and Gold , which always will have , as it ever has had for convenience 18 d. or 2 s. still running upon it , so Guinea's as aforesaid , set at 24 s. will have the Currency of 25 s. 6 d. or 26 s. Now against this 't will be said , T is Raising the Standard setled by an Act of this Sessions upon mature Reasons . 'T is not altering the Standard , for that however continues ; 't is only giving a Currency to Silver and Gold , as above exprest , for Publick Convenience , 'till otherwise provided by Parliament . And as to the Reasons ( 't is confessed ) that have been strongly urged to the contrary , they are to be answer'd by common Convenience , and the word Necessity , against which no Law ever did or ought at any time at all to prevail . As to the Convenience the Publick will reap , Note , 100000 l. this way pays 120000 l. at present , of which the Publick will have the Advantage , and if at any time hereafter it should be found needful to Reduce the same Crowns to 5 s. again , 't will be then but paying 12 d. apiece to every Person possest of such Crowns of which the Publick as had the use in the mean time , so it may the better by the Publick be repaid . And note also , The Re-payment of the Shilling so to be hoped for on the Crowns , will hinder their either being melted down or Exported , it being to be lost if they be . As to the Necessity , 'T is agreed on all Hands , that whilst Gold goes for more than 't is worth , and Silver for less , the one will be hoarded or carried away , and the other left to go by it self . This further Satisfaction 't will give , To Farmers and others actual Possessors of Land in the Country , 't will keep up the Price of their Commodities , viz. of Wooll , Cattle , Corn , Tinn , Lead , &c. to their general Satisfaction , because they will be thereby enabled the better to pay their Rents to their Landlords , who for that Reason 't is hoped and believed , will have very little Cause to complain . Note , What is before Proposed is no way Repugnant to the late Vote , That Guinea's shall not be taken or paid at above 28 s. and may yet be Enacted this Sessions ( as 't is humbly conceived ) if so be that it is but approved . T. N. 
A57517	----	Sir Thomas Rowe his speech at the councell-table touching brasse-money, or against brasse-money, with many notable observations thereupon, Iuly, 1640. Roe, Thomas, Sir, 1581?-1644. This text is an enriched version of the TCP digital transcription A57517 of text R474455 in the English Short Title Catalog (Wing R1778A). Textual changes and metadata enrichments aim at making the text more computationally tractable, easier to read, and suitable for network-based collaborative curation by amateur and professional end users from many walks of life. The text has been tokenized and linguistically annotated with MorphAdorner. The annotation includes standard spellings that support the display of a text in a standardized format that preserves archaic forms ('loveth', 'seekest'). Textual changes aim at restoring the text the author or stationer meant to publish. This text has not been fully proofread Approx. 18 KB of XML-encoded text transcribed from 6 1-bit group-IV TIFF page images. EarlyPrint Project Evanston,IL, Notre Dame, IN, St. Louis, MO 2017 A57517 Wing R1778A ESTC R474455 12657753 ocm 12657753 65414 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A57517) Transcribed from: (Early English Books Online ; image set 65414) Images scanned from microfilm: (Early English books, 1641-1700 ; 1535:8) Sir Thomas Rowe his speech at the councell-table touching brasse-money, or against brasse-money, with many notable observations thereupon, Iuly, 1640. Roe, Thomas, Sir, 1581?-1644. [2], 351-358 p. s.n.], [London : 1641. Place of publication suggested by NUC pre-1956 imprints. Reproduction of original in the Harvard University Library. eng Coinage -- England. Adulterated coins. Devaluation of currency -- England. A57517 R474455 (Wing R1778A). civilwar no Sir Thomas Rowe his speech at the councell-table touching brasse-money, or against brasse-money; with many notable observations thereupon, I Roe, Thomas, Sir 1641 3540 5 0 0 0 0 0 14 C The rate of 14 defects per 10,000 words puts this text in the C category of texts with between 10 and 35 defects per 10,000 words. 2003-08 TCP Assigned for keying and markup 2003-09 SPi Global Keyed and coded from ProQuest page images 2004-09 Olivia Bottum Sampled and proofread 2004-09 Olivia Bottum Text and markup reviewed and edited 2004-10 pfs Batch review (QC) and XML conversion Sir Thomas Rowe HIS SPEECH At the Councell-Table touching Brasse-Money , or against Brasse-Money ; with many notable observations thereupon , Iuly , 1640 Printed Anno 1641. Sir Thomas Rowe his Speech at the Councell Table , touching Brasse-Mony , or against Brasse-Money , with many notable observations thereupon , Iuly , 1640. MY Lords , since it hath pleased this Honorable table , to command amongst others my poore opinion concerning this waighty proposition of money , I must humbly crave pardon , if with that freedome that becometh my duty to my good and gracious Master , and my obedience to your great commands , I deliver it so . I cannot my Lords , but assuredly conceive this intended project of infeobling the Coyn , will trench very far both into the honor of Justice , and profit of my Royall Master . All estates do stand Magis fama quam vi as Tacitus saith of Rome ; And wealth in every Kingdome is one of the essentiall marks of their greatnesse , and is best expressed in the measures and purity of their moneys . Hence it was that so long as the Romane Empire , a pattern of the best Government held up their glory ▪ or greatnesse , they ever maintained with little or no change the standard of their Coyn , but after the loose time of Commodus had led in need by excesse , and so by that shift of changing the standard , the Majesty of that Empire fell by degrees . And as Vopiscus saith , the steps by which that State descended , were visible most by the generall alteration of their Coynes ; and there is no surer simptomes of consumption in State , then the corruption of the Money . What Renowne is left to the Posterity of Edw. 1. in amending the standard both in puritie and weight , from that of elder and barbarous times ; it must needs stick as a blemish upon Princes that do the contrary . Thus we see it was with Hen. 6. who after he had begun with a baiting the measures , he afterwards fell to abasing the matter ; and granted Commission to Missend , and others to practise Alcamie to serve his Mint . The extremity the State in generall felt by this agrievance , besides the dishonor it layd upon the person of the King , was not the least disadvantage his disloyall kinsman tooke , to ingrace himselfe into the peoples favours , to his Soveraigns Reign . When Hen. the 8th . had gained as much of power and glory abroad , of love and obedience at home as ever any , he suffered a losse by this Rock . When his Daughter Queene Elizabeth came to the Crowne , she was happier in Councell to amend that error of her Father , for in a memoriall of the Lord Treasurer Burleighs his hand , I finde that he and Sir Thomas Smith , a grave and learned man , advised the Queen that it was the Crown , and the true wealth of her selfe and people , to reduce the standard to the ancient party , and purity of her great Grandfather Edward the 4th . and that it was not the short end of wits , nor starting holes of devises , that can sustain the expence of a Monarchy , but sound and solid courses , for so are the words ; She followed their a devise , and began to reduce the moneys to their elder goodnesse , stiling this worke in her first Proclamation Anno 30. a famous Act. The next year following , Anno 30. having perfected , as it after stood , She telleth her people by another Edict ; That She had conquered now that monster that had so long devoured them , meaning the variation of the standard . And so long as that sad adviser lived , She never ( though often by Projectors importuned ) could be drawne to any shift or change in her Moneys . To avoyd the trouble of permutation , Coyners devised as a rule and measure of Marchandize and Manufactaries , which if mutable , no man can tell either what he hath , or what he oweth , no contract can be certain , and so all commerce both publike and private destroyed , and men again enforced to permutation with things not subject to will and fraud . The Regulating of Coyn hath been left to the care of Princes , who have ever beene presumed to be the Fathers of the Common-wealth , upon their honors they are debtors and warrants to the subjects in that behalfe . They cannot saith Bodin , alter the price of moneys to the preiudice of the subiect , without incurring the reproach of Faux moneyars . And therefore stories terme Phillip le Belle falsificator de monet . omnino monet . integritas debet quaeri ubi vultus noster Imprimatur , said Theodoret the Goth to his Mint-master . Quidnam erit tutum si nostra peccetur effigie , Princes must not suffer their faces to warrant falshood . Although I am not of opinion with the Minor des Iustices , the ancientest books of the Common-Law ▪ That Le Roy ne poi●s money impaire ne a mander saus Lassent des touts les Counties , which was the great counsell of the Kingdome . Yet cannot I passe over the goodnesse and grace of many other our Kings , as Edw. 1. Edw 3. Hen. 4. and the the 5th . and others ; who out of the rule of their Justice . Quod ad omnes spectat , ob omnibus debet approbari , have often advised with their people in Parliament , both for the Allay , weight , number of peeces , rate of Coynage and exchange , and must with infinite goodnesse acknowledg the care and Justice now of my good Master , and your Lordships wisedomes , that would not upon the information of some few officers of the Mint , before a free and carefull debate , put in execution this Proiect . Yet I must under your Lordships favour suspect it would have taken away the tenth part of every mans due debt or rent alreadie reserved throughout the Realm , not sparing the King , which could have been little lesse then a species of that which the Roman stories call Tabula nova , from whence every sedition hath sprang , as that of Marius Grantidianus in Livio , who pretending in his Consulship , thatt the currant money was wasted by us , called it in , and altered the Standard , which grew so heavie and grievous to the people , as the Author sayth , because thereby no man knoweth certainly his wealth , that it caused a tumult . In this last part which is the disprofit that the enfeobling the Coyn , will bring both to his Maiesty , and to the Common-wealth . I must distinguish the moneyes of gold and silver as they are bullion and commodities , and as they are measures , the one of the extrinsique quality , which is at the Kings pleasure , as all other measures to name , the other the intrinsique quality , of pure mettall , which is in the Merchant to value as their measure , shall be either to be lessened or enlarged , so is the quantity of the commodity that is to be exchanged , if then the King shall cut his shilling or pound in money lesse than it was before , a lesse portion of such commodities as shall be exchanged , for it , must be received , it must then of force follow , that all things of necessity , as victualls , apparell , and the rest as well as those of pleasure , must be inhaunsed . If then all men shall receive in their shillings and pounds a lesse proportion of silver and gold than they did before this projected alteration , and pay for what they buy at a rate enhaunsed , it must cast upon all a double losse , what the King will suffer by it in the Rents of his lands ▪ is demonstrated enough by the alteration since the 18 of Ed 3. when all the Revenues of the Crown came unto the receipts pondere & numero , after 5 Groats the Ounce , which since that time by severall changes of the Standard is come to 5s . whereby the King hath two third parts of his just Revenues . In his Customes , the book of rates being regulated by pounds and shillings , his Majesty must lose alike , and so in all and whatsoever moneyes , that after this he must receive the profits of his Coynage , cannot be much more permanent in the losse lasting , and so long as it reacheth to little lesse than yeerly , to accept part of hi Revenue , for in every pound tale of gold is 7 Ounces , 1d ▪ weight , and 19 grains losse , which 25l . in accompt , and in 700l . tail of silver , which is 14l . 17s . more . And his Majesty shall undergo all this losse hereafter , in all his receipts , so shall he no lesse in all his dibursments , the wages of his souldiers must be ratably advanced , as the money is decreased . This Edward the 3 , as appeareth by the accounts of the Wardrobe and Exchequer , as all the Kings after him were inforced to do , as often as the lessened Standard of the moneyes of what shall be bought for his Majesties service , must in like manner be inhaunsed on him . As his Majesty hath the greatest profits of receipts and issues , so must he of necessity taste of the most losse by this device . It will destroy or discourage a great proportion of the trade in England , Impair his Maiesties Customes for that part , being not the least that passeth upon trust and credit will be over-thrown , for all men being doubtfull of diminution hereby of there personall estates will call in their moneys , already out , and no man will part with that which is lying by himuppon apparant losse , as this must bring ; what dammage may befall the State by such a sudden stand of Trade I cannot guesse . The moneys both of gold and silver formerly Coyned and abroad , richer then those intended , will be made of the most nereby Bulloin and so transported ; which I conceive will be none of the least inducements that hath drawn so many Goldsmithes to side this Proiect , that they may be thereby Factors for the Strangers , who by the Law of Mintage bring but two shillings silver to the pound waight , and 4 shillings for gold ; whereas with us the one is and the other 5 shillings , many make that profit beyond the Sea , they cannot here , and so his Maiesties Mint unset of worke . And as his Maiesties losse appeareth in the alteration of many a 14th in the silver , and a 25th part in all the gold they after shall receive ; so shall the Nobilitie , Gentry , and all other landed men in all their former setled Rents , Annuities , Pensions , and sums of money , the like will fall upon the labourers and workemen in their statute wages . And as their receipts are lessened hereby , so are their issues increased either by improving all prices , or dis-furnishing the Marker , which must necessarily follow ; for in the 5th of Edw. 6th . 3o Mary , 4to Eliz. as appeareth by their Proclamations . That a Rumour only of alteration caused such effects , punishing the author of such reports , with Imprisonment , and Pillory . It cannot be doubted , but the proiecting of such a change , must be of far greater consequence and danger to the State , and would be wished that the Actors , and authors of such disturbances in the Common-wealth at all times hereafter , might undergo a punishment proportionable . It cannot be held , I presume , an advise of best indgement that layeth the losse upon our selves , and the gain upon our enemies , for who are like to be in this the greatest thrivers , is not visible that the strangers who support , or money for bullion , our own Gold-smiths , who are their Brokers , and the Hedgminters of the Netherlands , who tearmed them well , will have a fresh and full trade by this abasements . And we do not the Spanish King , our greatest enemy , a greater favour than by his , who being Lord of these commodities by his West-Indies , we shall so advance them to our impoverishment , for it is not in the power of any State to raise of the price of their own , but the value that their neighbours , set upon them , experience hath taught us that the enfoebling of Coyn is but a shift for a while , as drinke to one in a dropsie , to make him swell the more , but the state was never thorowly cured , as we saw in Henry the Eighths time , and the late Queens , untill the Coyn was made rich again . I cannot but then conclude my honorable Lords , that if the proportion of Gold and Silver to each other be wrought to that purity , by the advice of the Artists that neither may be too rich for the other , that the Mintage may be reduced to some proportion of neighbour parts , and that the issue of native commodities may be brought to over-ballance the entrance of the forraigne , we need not seek any shift , but shall again see our trade to flourish , the Mint as , the pulse of the Common-wealth , again to beat , and our Materialls by Industry , to be Mynes of Gold and Silver , which we all wish and work for , supported unto us , and the honor of Justice , and Profit of his Maiesty . Certain general Rules collected concerning Money and Bullion , out of the late Consultation at Court . GOld and silver hath a two fold estimation in the extrinsique , as they are moneys , and Princes measures given to his people , and this is a Prerogative of Kings in the Intrinsique , they are commodities valewing each other according to theplenty or scarcity ; and so all other commodities by them , and that is the sole power of Trade . The measure in a Kingdome ought to be constant , It is the Justice and honor of the King ; for if they be altered , all men at that time are deceived in the precedent contracts , either for lands or moneys , and the King most of all ; for no man knoweth either what he hath , or what he oweth . This made the Lord Treasurer Burleigh in Anno 1573. when some Projectors had set on foot a matter of that nature , to tell them that they were worthy to suffer death , for attempting to put so great a dishonor upon the Queen , and detriment and discontent on the people ; for to alter this publike measure is to leave all the Markets of the Kingdome unfurnished : and what will be the mischiefe the Proclamation of 5. and 6. 30. Mary , and 4th . of Eliz. will manifest , when but a rumor produced that effect so farre , that besides the faith of the Princes to the contrary delivered in their Edicts , they were inforced to cause the Magistrates in every Shire respectively , to constrain the people to furnish the Market , to prevent a mutiny . To thinke then this measure at this time short , is to raise all prices , or to turn the measure or money now current into disuse and Bullion ; for who will depart with any , when it is by seven more in the hundred in the masse , then the now moneys , and yet of no more value in the Market . Hence the necessitie of it will follow , that there will not of a long time be Minted of the new to drive the exchange of the Kingdome , and so all trade at one instance at a stand ; and in meane time the Markets unfurnished , and thus far as money is a measure . Now as it is a commoditie , it is respected and valued , by the intrinsique qualitie , and first the one mettall to the other . All commodities are priced by plenty or scarcity , by dearenesse or cheapnesse , the one to the other . If then we desire our silver to buy gold as it hath lately been , we must let it it be the cheaper and lesse in proportion valued , and so contrary for one equivalent proportion in both , will bring in neither ; we see the profit there of the unusuall quantitie of gold brought lately to the Mint by reason of the price , we rate it at above all other Countries , and gold may be bought too dear ; to furnish then this way the Mint with both , is impossible . And at this time it was apparantly proved both by the best Artists , and Marchants most acquainted with the Exchange , in both the examples of the Mint-masters , in the Rix-dolor , and Royall of Eight , that silver here is of equall valew , and gold above with forreine parts in the intrinsique , but that the fallacie presented to the Lords by the Mint-masters , is only in the nomination of extrinsique qualitie . But if we desire both , it is not the raysing the valew that doth it , but the balancing the Trade , for we buy more then we sell of all other commodities , be the money never so high priced , we must part with it to make the disproportion even , if we sell more then the contrary will follow . And this is plain in Spanish necessities , for should that King advance to a double his Royall of Eight , yet needing it by reason of the barrennesse of his Country , more of forreign wares , then can countervaile by exchange with his wares , he must then part with his money , and gain the more by enhaunsing his coyn , but he payeth a higher price for the commodities he buyeth , if this work of raysing be his own . But if we shall make improvement of gold and silver being the Staple-commodities of this Kingdome , we then advancing the the price of his abase to him our own commodities . To shape this kingdome to the fashion of the Netherlands , were to frame a Royall Monarchie by a society of Marchants , their Country is a continuall Faire , and so price of moneys must rise and fall to fit their occasions ; we see this by raising the Exchange of Franckford , and other places , of their usuall time of the Marts . This frequent and daily change in the Low-Countries of their moneys is no such injustice to any there , as it would be here , for there they being all Merchants , or mechanicks , they can rate accordingly their labour and their Ware , whether it be Coyne , or other merchandize , to the present condition of their own money in Exchange . And our English Merchants to whose profession it properly belongeth , do so according to their just intrinsique valew of their forreign Coyn in all barter of commodities or Exchange , except usance which we that are rated and tyed by the extrinsiques measure of moneys in all our constant reckonigs , and annuall bargains at home cannot do . And for us then to raise our Coyn at this time , to equall their proportions were but to render our selves to a perpetuall incertainty , for they will raise upon us daily them again , which we of course shall follow , else receive no profit by this present change ; and so destroy the Policie , Justice , honor , and tranquilitie of our State for ever . FINIS . 
A57520	----	Sir Thomas Roe his speech in Parliament wherein he sheweth the cause of the decay of coyne and trade in this land, especially of merchants trade, and also propoundeth a vvay to the House, how they may be increased. Speech in Parliament wherein he sheweth the cause of the decay of coyne and trade in this land, especially of merchants trade Roe, Thomas, Sir, 1581?-1644. This text is an enriched version of the TCP digital transcription A57520 of text R12658 in the English Short Title Catalog (Wing R1781). Textual changes and metadata enrichments aim at making the text more computationally tractable, easier to read, and suitable for network-based collaborative curation by amateur and professional end users from many walks of life. The text has been tokenized and linguistically annotated with MorphAdorner. The annotation includes standard spellings that support the display of a text in a standardized format that preserves archaic forms ('loveth', 'seekest'). Textual changes aim at restoring the text the author or stationer meant to publish. This text has not been fully proofread Approx. 19 KB of XML-encoded text transcribed from 7 1-bit group-IV TIFF page images. EarlyPrint Project Evanston,IL, Notre Dame, IN, St. Louis, MO 2017 A57520 Wing R1781 ESTC R12658 13133612 ocm 13133612 97878 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A57520) Transcribed from: (Early English Books Online ; image set 97878) Images scanned from microfilm: (Early English books, 1641-1700 ; 749:25) Sir Thomas Roe his speech in Parliament wherein he sheweth the cause of the decay of coyne and trade in this land, especially of merchants trade, and also propoundeth a vvay to the House, how they may be increased. Speech in Parliament wherein he sheweth the cause of the decay of coyne and trade in this land, especially of merchants trade Roe, Thomas, Sir, 1581?-1644. [2], 10 p. s.n.], [S.l. : 1641. Reproduction of original in Huntington Library. eng Coinage -- England. Great Britain -- Commerce. A57520 R12658 (Wing R1781). civilwar no Sir Thomas Roe his speech in Parliament· Wherein he sheweth the cause of the decay of coyne and trade in this land, especially of merchants Roe, Thomas, Sir 1641 3732 9 0 0 0 0 0 24 C The rate of 24 defects per 10,000 words puts this text in the C category of texts with between 10 and 35 defects per 10,000 words. 2003-08 TCP Assigned for keying and markup 2003-09 Apex CoVantage Keyed and coded from ProQuest page images 2003-10 Jonathan Blaney Sampled and proofread 2003-10 Jonathan Blaney Text and markup reviewed and edited 2003-12 pfs Batch review (QC) and XML conversion Sir Thomas Roe HIS SPEECH IN PARLIAMENT . WHEREIN He sheweth the cause of the decay of Coyne and Trade in this Land , especially of Merchants Trade . And also propoundeth a VVay to the House , how they may be increased . Printed in the yeare , 1641. SIR THOMAS ROE HIS SPEECH IN PARLIAMENT , 1640. IT is a generall opinion that the Trade of England was never greater , and it may be true , that if it be so , yet it will not absolutely conclude that the Kingdome doth increase in riches , for the Trade may be very aboundant , and yet by consumption and importance of more then is expected , the stock may waste . The Balance would be a true solution of the Question , if it could be rightly had : but by reason it must be made up by a Medium of the Books of Rates , it will be very uncertaine . Therefore we must seeke another rule that is more sensible , upon which we may all judge , and that may be by the plenty orscarcity of money ; for it is a true rule , if money increase , the Kingdome doth gaine by Trade ; if it be scarce , it loseth . Let us therefore consider ; first , whether our Gold and Silver be not decreased , and then by what meanes it is drained ; and lastly , how it may be prevented , and what remedies are appliable to effect it . It is out of doubt our Gold is gone to travaile without Licence , that is visible beyond Seas , and every receiver of sums of money must finde it privately ; and I feare the same of Silver , for observing the species of late Coyning many halfe Crownes were stamped , which are no more to be seene , and by this measure I conclude the Kingdome growes poore . The causes of this decay of Money may be many , it may be stolne out for profit , going much higher beyond Seas , especially in France and Holland . Much hath beene drawne away by the Stanger upon feares of our Troubles , of which I have experience by exchanges ; and Exchanges are the great mystery , especially such as are used as a Trade , and governed by Bankers who make many returnes in a yeere , and gaine by every one , more then the interest of a yeere , and the greatest danger to a State is , when money is made Merchandize , which should be but the measure thereof . And here I will propose a Probleme , whether it were profitable to a Kingdome or not , that the Stranger for many yeeres had a great stock here at interest , and still hath some ; I confesse it hath supplied the necessities of Merchants , and helped to drive Trade . But my Quaere is this , suppose the first principall were truely brought in by the Stanger , yet doubling every tenne yeeres , what becomes of the increase ; have they not lived by our Trade and the Merchant adventurers , and soaked the Kingdome of as many times principall , as they have practised this Vsury many times ten yeeres , and in the end drawne or carried all away ? This is a point to a State very considerable . Much Coyne hath been drawn away without doubt by the French , who have brought in Wares of little Bulke , perhaps without custome , but of deare price , and having turned it into Gold , have returned without investing any part thereof : and such petty Merchants cannot be reached by the Statute of imployments . Another cause of scarcity of Coyne , may be the over-strict rule of the uncurrentnes of any good Coyne , and that it must be sold here as Bullion ; in that case , what stranger will bring in money ? Whereas , if every good species current , according to this allay , and weight in proportion to our Coyne , or rather a little higher , it will draw , namely money by degrees into England ; as lower grounds doe water from higher , though they see not the Channels : and we see France , Holland and Germany adm●t all good Coynes , though forraigne , for and above their in●nsique value . But I will end this search by proposing some generall Remedies ; for if I doe now but make Essayes , a●d give occasion to more subtill and particular disquisition , 1 To the first lea●e of stealing away Coyne , I would make it felony ●y an Act : for if a man may justly suffer death for robbing of a private man , I see no injustice nor cruelty to inflict the same punishment upon him that robs a Kingdome . 2 That the neighbour Princes and States doe cry up our money , and so entice it from us . This in my judgement ought to be provided for by our Treaties , which was the old way , especially of Commerce , by agreeing and publishing of Placarts according to a true Par : For that Prince that will make a treatie of Commerce , doth it for the use of the commodity , which certainly I would deny any Prince that would not consent to keepe monies even , by their true values , at least , that would set a higher price upon our money , then the King hath done ; and if our Coyne did either keepe beyond the Seas the English value , or were Bullion and uncurrent , the stranger should have as little of our money , as we have of theirs . How to recover the strangers money drawne away since our troubles , is a hard endeavor , and can no wayes be brought to passe but by Peace and Trade , and the resolution of this will fall into the generall remedy which I shall propose . The pedling French Trade must be met with by diligent search at the landing of these Creamers , what they bring in , and by suffering none of them to passe any goods by private Warrants ; but that according as they shall be valued , they give bond to invest it in English Commoditie , naturall or naturalized , and that with surety : Nay , in this case , not to allow them exchange by bils ; for it will not hurt the Common-wealth , if by any rigor they were beaten out of their private toyish traffique . I shall not doubt to offend any but the Mint , which may be recompenced to his Majesty in his Customes , if money be plentifull ; for all goods will follow money . If I did propose the currentnesse of all goods , and great species of forreigne Coines , for their true intrinsive value , according to the pay with ours , and if I say a little higher , according to occasions , keeping our own Coyne pure and constant to be cryed downe as much under according to occasions , I thinke it will be a policy both reasonable and profitable , by experience tryed in other States . But leaving these Empiricall practices , I come now to the great and infallible Rule and Remedy , which is in plaine English , to settle & assure the ground of Trade upon Staple-commodities ; then like the Lady of Whitsonide to her Pipe-money , will dance after that : for as Merchandize doth follow mony , so doth mony Commodity . I said at first , it was a generall opinion , that Trade never flourished more then now , and it may be so , but we must consider this be not accidentall and changeable , and depending more upon the iniquity or misery of the times , then upon our owne foundation and industry , and if that be so , then it is no sure ground for a state to rely upon ; for if the causes change , the effects will follow . Now it is true , that our great Trade depends upon the troubles of our neighbours , and wee enjoy almost the Trade of Christendome ; but if a peace happen betwixt France , Spaine , and the Vnited Provinces , all these will share what we now possesse alone , and therefore wee must provide for that day , for nothing stands secure but upon his owne foundation . To make then our owne Trade secure , we must consider our owne Staple-commodities , whereof Wooll is the chiefest , and seeke the way to both , to keepe up the price at home , and the estimation of all commodity made of that , and to be vented abroad . Some other helpes we have , as Tynne , Lead , and such like , but I dare confidently affirme , That nothing exported of our owne growth hath balanced our riotous consumption at home , but those forraine commodi ies , which I call naturalized , that is that surplus of our East-India Trade , which being brought home in greater quantity then are spent , within the Kingdome , are exported againe , and become in value and use as naturall commodities , and therefore by the way , I hold it absolutely necessary to maintaine that Trade by a regulation with the Dutch , of which more reason shall be given , when that particular shall be taken into consideration . We have yet another great helpe which is our owne , and wants only our industry to gather the harvest , which is our fishing and erecting of Busses , both for the enriching of our Kingdome , and the breeding of Mariners , and this by private industry ( though to private losse ) is beaten out already , and shall be offered to the Common-wealth , if they please to accept of it , and to give you one onely encouragement . I doe avow , that before the Dutch were lately interrupted by the Dunkerks , by their industry , and our fish , they made at great Returnes betweene Dansicke and Naples as the value of all our Cloth , which is one million yearely , and this in a due place I desire should have his due weight and consideration . We have one helpe more , if we knew how to use it , that is , by the new drained Lands in the Fens , most fit for Flax and Hempe , to make all sorts of Linen for the body , for the house , and sailes for ships ; that is a Dutch and French Trade : but in Holland one Acre of ground is rented at three pounds , which if the Hollanders may have in the Fens for 10. s. or 12. s. it will be easie to draw the manufacture into England , which will set infinite people a worke , and we may be able to serve other Nations with that which we buy deare from them , and then the State and Kingdome will be happy and rich , when the Kings customes shall depend upon commodities exported , and those able to returne all things which we want , and then our money must stay within our Kingdome , and all the trade returne in money : to incourage you to this , I give you one example . That if the severall sorts of Callicoes made of Cotton woolls in the Moguls and Dans Dominions , doth clothe from head to foot all Asia , a part of Europe , Aegypt , much of Africa , and the Easterne Islands as farre as Sumatra , which makes that Prince without Mines the richest Prince in the world : and by his Majesties Grace and Priviledges granted to the Dutch , I am confident wee may make and undersell in all Linen cloth in all the Nations in Europe . But I have now wandred far from my Theam , which was the decay of Trade and of Woollen commodity . I must first therefore present to your consideration the causes thereof in my observations , whereof some are internall , and some externall . The internall have proceeded from her owne false making , a stretchning , and such like practices , whereby indeed our Cloth is discredited ; I speake by experience from Dansick and Holland , northward to Constantinople , as I will instance in due time . This false Lucre of our owne , and the interruption in the dying and dressing projected and not overcome , gave the first wound , though could it have beene compassed , had doubled the value of our Commodity . This hath caused the Dutch Silesians and Venetians to attempt the making of Cloath , and now byy experience ( as I am informed ) the halfe is not vented , that was in the latter Age . Another internall cause hath risen from such Impositions , as hath made our cloath too deare abroad , and consequently taught others to provide for themselves . Another internall cause hath sprung from pressaries upon tender consciences , that many of our Clothiers and others have forsaken the Kingdome , and carried their Arts with them to the unexpressable det●iment of the Common-wealth . The externall causes have been the want of perfection , and countenance to our Merchants , established abroad in Factories by the State and by the Treaties , whereby the Capitulations have not beene kept nor assured unto them , neither in Prussia , nor in the ●ound , nor Humburgh , nor Holland , nor in the East : and this I dare say , that Laban never changed Iacobs wages so often , as the Hollanders have forced our Merchants to change their residences , and the very course of this Trade , by Lawes and Tricks for their own advantage , of which the Merchant adventurers will more fully informe you . Another externall cause is lamentable , Report , the increase of the Pirates , and the insecurity of the Meditirranean Seas ; whereby Bristow and the Westerne Ports , that cannot have so great shipping as London , are beaten out of Trade and fishing ; and if once those Theeves shal finde the way to Banke and New-found-land , they will undo the West parts of England . I will trouble you with a Consideration very considerable in our Government , whether indeed London doth not monopolize all Trade : in my opinion it is no good state of a body to have a fat Head , thin Guts , and leane Members . But to bring something before you of Remedy , I say thus for my first ground , that if our Cloth be not vented as in former yeeres , let us imbrace some other way to spend and vent our Wools . Cloth is a heavie and hot wearing , and serves but one cold corner of the World : But if we embrace the new Draperies , and encourage the Wallons , and others by Priviledges , and Naturalizations , we shall imploy all the wooll we have , set more people a worke then by Cloth , and a pound of wooll in those stuffes true made , will out-sell two pounds in cloth ; and this we may supply France , Italy , Spaine , Barbary , and some parts of Asia , by such light and fine stuffes as will fit those warmer Regions , and yet have sufficient for the cold Climates to be spent and adventured in true made cloth , by the reputation both of our Nation and commodity . But in this course I must observe , that these strangers so fit to be nourished , and being Protestants , may have priviledges to use their owne rights in Religion , so as they be not scandalous , as the Dutch and French had granted unto them by Queene Elizabeth , and certainly the setling of religion secure in England , the fear wherof made many weak mindes to waver and abandon this Countrie , is , and will be a great meanes to resettle both the great and lesser manufactures of wollen cōmodities . For the externall causes , we must flye to the Sanctuary of his Majesties gracious goodnesse and protection , who , I am confident , when the whole businesse shall be prepared for him , and that we have shewed him our duty and love , and setled his customes in such a bountifull way , as he may reape his part of the fruit of Trade ; I am confident , I say , that he will vouchsafe you all favour fit to be conferred upon good Subjects , and not onely to protect you abroad , by his forces and authority , and by treaties with his neighbours , but by increasing the priviledges of Merchants at home , and confirming all their Charters , the breach whereof hath bin a great discouragement unto them ; and without which duely observed , they cannot regulate their Trade . There are some particulars in the Spanish Trade , perhaps worthy of animadversiō , as underselling good commodity to make money , or barter for Tobacco , to the imbasement of our own Staple for Smoake , which in a due place ought to be taken into Regulation . Another consideration for a ground of Trade , ought to be the nature of it , with whom , and for what wee trade , and which Trade is most principally to be nourished ; which out of doubt , are the Northerne Trades , which are the root of all other , because the materials brought from those parts , as from Wx , Muscove , Norway , Prussia , and Livonia , are fundamentall and of absolute necessity ; for from these Trades we get the materials of Shipping , as Pitch , Tar , Cordage , Masts , and such like , which inable us to all the Southerne Trades themselves , of lesse use , being onely Wine , Fruit , Oranges , and curiosities for Sauces , or effeminacy ; but by these we sayle to the East-Indies , and may erect a Company of the West-Indies ; for the golden-fleece which shall be prepared for you , whensoever you are ready for so great a Consultation . The right way to nourish these Northerne Trades , is by his Majesties favour , to presse the King of Denmarke to Iustice , not to come as his intollerable Taxes newly imposed upon Trade in the passage of the Sound ; in Examples whereof , the Elector of Brandenburgh joyned with the King of Poland , hath likewise more then trebled the ancient and capitulated Duties ; which if that they shall continue , I pronounce all the Commerce of the Baltique Sea so over-burthened , that the East-●and Company cannot subsist , nor without them and the Muskove Company the Navigation ; but that the Materials for shipping will be doubled , which will eat out all Trades . I have given you but Essayes , and strooke little sparkes of fire before you ; my intention is but to provoke the wit and ability of ot●ers ; I have drawne you a Map , wherein you cannot see things cleerly and distinctly ; onely I introduce matter before you , and now I have done , when I have shewed you the way how to enlarge and bring every particular thing into debate . To which end , my motion and desire is this , that we may send to every severall Company of Merchants trading in Companies , and under Government and Priviledges , and to aske of them , what is their Grievances in their generall Trade ( not to take in private complaints ) what is the causes of decay or abuses in their Trades , and of the want of money , which is visible , and of the great losses , both to the Kingdome , and to every particular , by the late high exchanges ; and to desire every one of these Companies to set downe their judgement in writing to the Committee by a day appointed : and having from them all the generall state of the Complaints severally , wee shall make some judgements of these relations one to another : this done , I desire to require all the same severall Companies upon their owne papers to propose to us in writing the Remedies appliable in their judgement ; which materials having altogether , and comparing one with another , we shall discover that trueth which we seeke ; that is , Whether Trade and Money decay or not ? and how to remedy it . But I have one request more , and so I will ease you of my losse of your time . That when from all these Merchants wee shall have before us so much matter , and without such variety , and perhaps not without private and particular ends , that then you will give me leave to represent to you the names of some generall , and others disinteressed and well experienced in many particulars , who may assist our judgements in all the premises particularly in moneyes and Exchanges , and give us great light to prepare our result and resolution , to be by the whole House of Commons represented to his Majesty , and for expedition that a sub-Committee may be named to direct this Information from the Merchants . FINIS . 
A58723	----	A proclamation concerning the coyn Proclamations. 1681-03-05. Scotland. Privy Council. 1681 Approx. 5 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). A58723 Wing S1723 ESTC R220964 99832347 99832347 36820 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A58723) Transcribed from: (Early English Books Online ; image set 36820) Images scanned from microfilm: (Early English books, 1641-1700 ; 2058:4) A proclamation concerning the coyn Proclamations. 1681-03-05. Scotland. Privy Council. Charles II, King of England, 1630-1685. 1 sheet ([1] p.) printed by the heir of Andrew Anderson [prin]ter to His most sacred Majesty, Edinburgh : anno Dom [1681] Date of publication from Wing. "Given under our signet at Edinburgh, the fifth day of March, one thousand six hundred eighty and one, and of our raign, the thretty [sic] three year." Imperfect; torn at foot affecting imprint. Reproduction of the original in the Aberdeen City Charter Room. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Scotland -- Early works to 1800. Scotland -- History -- 1660-1688 -- Early works to 1800. Scotland -- Politics and government -- 17th century. 2008-05 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-09 John Pas Sampled and proofread 2008-09 John Pas Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion A PROCLAMATION Concerning the Coyn. CHARLES by the Grace of GOD , King of Great-Britain , France and Ireland , Defender of the Faith , To _____ Our Lyon King at Arms , and his Brethren Heraulds , Macers , Pursevants , or Messengers at Arms , Our Sheriffs in that part , conjunctly and severally , specially constitute , Greeting : Forasmuch as by Our Royal Prerogative , We have power to establish , or alter the matter of Coyn , either Native or Forraign within Our Dominions , from time to time , as We shall find fit for the good of Our Subjects ; and Our Royal Ancestors having been in constant use to raise and exalt the extrinsick value of the Coyn of this Kingdom , according as the Neighbouring Kingdoms and States have done their Standarts ; and in some measure , to bear such a proportion with Our Neighbours , as that the Coyn of this Kingdom might not be exported : And whereas the value of the ounce of Coyned Silver hath been raised from time to time , as particularly in the year 1591. the value of the ounce of Coyned Silver was appointed to be fourty two shilling Scots , being of eleven Denier fine , which continued from that year to the year 1691 , and was then raised to three Pounds ten Pennies , and two sixth parts , and which has continued ever since at that value : albeit in the Neighbouring Kingdoms and States , the ounce of Coyned Silver is valued considerably above the same , which has been one great occasion of the exporting of the greatest part of the Stock of Our own Coyn , and whereof Merchandise has been , and is still made ; and the same species melted down by forraign Mints and Goldsmiths , and imported again in forraign species , much below Our own Coyn , both in weight and fineness , whereby Our Authority has been contemned , Our People cheated and abused , and the Trade and Commerce of this Kingdom highly prejudged ; and if the same be not timously remeided , the remnant of the Stock of Our own Coyn will in a short time be carryed out , and nothing left but forraign species of baser Monies . And some of the most considerable of the Merchants of this Our Kingdom , having made their application to Our Privy Council , and proposed as a fit expedient , that Our four Merk peices might be appointed to be current proportionally to the intrinsick value thereof , and the best of the forraign Current Coyn ; who having had the same ūnder serious consideration , and having received from the Officers of Our Mint , an exact account of the intrinsick value thereof , and of all other forraign species of Coyn , tollerated to be current ; and finding , that at the rate of the ounce of Silver now Current in other Countreys , it is fit that Our Coyn be in some proportion with theirs in the extrinsick value . We therefore , with the Advice of the Lords of Our Privy Council , do ordain and appoint , that in time coming , the ounce of Our own Moneys shall be in value , three Pounds four Shillings Scots Money : and to that effect , do ordain , that the four Merk pieces , which are now current at fifty three shillings four pennies , shall hereafter be current at fifty six shillings , and the inferiour species of that Coyn , viz. the two Merk , Merk , Half merk , and Fourty-penny-piece proportionably . And whereas it is most just , that now seing we have advanced the value of Our Coyn , as aforesaid , the Merchants ought to have enccuragement to bring in their Bulzeon with greater chearfulness , We do ordain , that whereas they did receive for each ounce of Silver , payed in by them , as Bulzeon of eleven denier fine , fifty five Shillings nine Pennies Scots ; the Master of the Mint is now to pay out to them , for every ounce of eleven denier fine , given in by them as Bulzeon , fifty eight Shillings Scots . And ordains all forraign species of Coyn to be current as formerly ; And that these Presents be Printed , and Published at the Mercat Cross of Edinburgh , and other places needful , that none pretend ignorance . Given under Our Signet at Edinburgh , the fifth day of March , One thousand six hundred eighty and one , And of Our Raign , the thretty three Year . Per actum Dominorum Secreti Concilij . WIL. PATERSON . Cl. Sti. Concilij . GOD save the KING . Edinburgh , Printed by the Heir of Andrew Ander●●● 〈…〉 ter to His most Sacred Majesty , Anne DOM 16●● 
A64303	----	Some short remarks upon Mr. Lock's book in answer to Mr. Lounds, and several other books and pamphlets concerning coin. By Sir Richard Temple, knight of the bath, and baronet. Temple, Richard, Sir, 1634-1697. 1696 Approx. 10 KB of XML-encoded text transcribed from 7 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2003-01 (EEBO-TCP Phase 1). A64303 Wing T633 ESTC R222149 99833375 99833375 37851 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A64303) Transcribed from: (Early English Books Online ; image set 37851) Images scanned from microfilm: (Early English books, 1641-1700 ; 2066:10) Some short remarks upon Mr. Lock's book in answer to Mr. Lounds, and several other books and pamphlets concerning coin. By Sir Richard Temple, knight of the bath, and baronet. Temple, Richard, Sir, 1634-1697. 12 p. printed for Richard Baldwin, near the Oxford-Arms Inn in Warwick-Lane, London : 1696. Reproduction of the original in the British Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England -- Early works to 1800. 2000-00 TCP Assigned for keying and markup 2001-10 SPi Global Keyed and coded from ProQuest page images 2001-11 TCP Staff (Michigan) Sampled and proofread 2001-11 TCP Staff (Michigan) Text and markup reviewed and edited 2001-12 pfs Batch review (QC) and XML conversion Some Short REMARKS UPON Mr. Lock 's Book , IN ANSWER To Mr. LOUNDS , And several other Books and Pamphlets concerning COIN . By Sir RICHARD TEMPLE , Knight of the Bath , and BARONET . LONDON : Printed for Richard Baldwin , near the Oxford-Arms Inn in Warwick-Lane . 1696. Some Short REMARKS UPON Mr. Lock 's Book , &c. ALthough Mr. Lock , by all his Writings hath justly acquir'd the Character of a very Ingenious Person ; yet without detracting from his Merit in this late Discourse of his , he hath fallen into the Error which often attends those who write upon Subjects of which they have no practical Knowledge or Experieoce , to frame Notions , and lay down Suppositions , which are either False or Fallacious , of which , my present design is only to give a short Specimen , having not the leisure as yet , to persue so large a Discourse . First . That an Ounce of Silver is of equal value to an Ounce of Silver of the same Weight and Finess , admits of no Dispute ; But , that an Ounce of Silver will buy an Ounce of Silver of the like Fineness , is an absurd Proposition , since there is no occasion for any Barter or Exchange . Secondly . That the intrinsick value of Silver is the true Instrument and Measure of Commerce , is partly True , and partly False ; for the Mony of every Country , and not the Ounce of Silver , or the intrinsick value , is the Instrument and Measure of Commerce there , according to its Denomination , and the Standard of the Coin of each Nation is very different , and does often vary according to Time , Place , and Circumstances : Nor are the Commodities of any Country bought by Foreign Coin or Bullion , of the Makers , or first Venders , but by the Coin of the Country , and is therefore bought by Commodities ; they are first invested into the Mony of the Country ; or if by Foreign Coin or Bullion , it must be also converted into the Coin of the Place , before it can be useful for Barter ; and the Merchant or Goldsmith will gain something to reduce it to the Coin of the Country , unless the Matter be transacted by Bills of Exchange , in which they endeavour as much as may be to make a Par between the Mony of each Country , according to the intrinsick Value ; and hence comes the necessity and use of Exchange . Nevertheless , that intrinsick value is govern'd by the value of Bullion in each Country at that time , which varies , as other Commodities do , and other Circumstances . Thirdly . Bullion is a Commodity , and has no certain universal stated Price or Value , agreed upon by Mankind , as he supposes , but varies in every Age and Nation , according to the Scarcity , Plenty , or Use of it : Notwithstanding , it must be allowed , that the Silver coming wholly from the West-Indies , the Price of it does govern the Value in all Europe ; nor does it vary so much as other Commodities do , unless there be some extraordinary accident of interrupting the Trade to those Parts , by reason of War , &c. Or by the encrease of the demand of it in Europe , or in some particular Nations thereof , and therefore is the fittest to be the material for the Instrument and Measure of Commerce , ( viz. ) Mony. Fourthly . Against his Assertion , That advancing the Denomination , or lessening the Weight or Fineness of our Coin , would be a loss of so much to the Landed Men in their Rents , and the Creditors in their Debts ; at least as to all Bargains already made . I offer to consideration , That nothing is more evident , than that such a Change can have no such effect or consequence upon any thing at Home , but only Exchange and Commerce Abroad ; for proof whereof , I shall appeal to the Historical part of Mr. Lounds his Book , as to the frequent alteration of the Standard in Weight , Fineness , and Denomination here , which is yet much more practised in other Neighbouring Nations , as I could easily demonstrate , the Standard of whose Coin is much below ours , and who have also grert quantities of Coin of base Alloy currant among them , which they have never thought fit to change , even in the times of the greatest Wealth or Plenty among them , for the ease of Commerce at Home , and augmenting the species of Mony. Fifthly . In the next place , it is as evident , that whatever the value of the Coin be , more or less , it will have the same effect according to the Price currant of it , as to our home Commerce ; for Instance , If our Shilling be above the Standard of all other Nations , and worth thirteen Pence abroad , as it has been for many years , yet without Melting or Exporting , or by way of Exchange , it will purchase no more than a Clip'd Shilling , or twelve Pence in Half-pence or Farthings ; and while our Clipp'd Mony pass'd , and no discountenance put upon it , we found no such rise of Commodities , or fall of our Rents , or damage to the Subject in taking it : Nor has it the same influence now , as to any Commodities that are not for Foreign Consumption , since Corn , Flesh , &c. have risen or fallen according to the Scarcity , Plenty , or Vent , and not according to the Value , but denomination of Mony , for these three Years last past , before the Project of Re-coining our Mony was set on foot , which possibly hath of late made some alteration in these Commodities also . This indeed must be allow'd , that when the Standard of Coin was by publick Authority for perpetuity , altered from twenty Pence to sixty two in point of Denomination , but not in Weight or Fineness . Between the time of Edward III , and Queen Elizabeth , by degrees the price of Commodities and Rents , did advance ; but the ounce of Silver being generally raised through all the World accordingly , and rather more abroad , by reason of the frequent Wars upon the Continent ; as also , that of their being then the principal Seats of Trade and Manufacture , which required greater supplies of Silver ; there was no loss as to the Old Rent . Sixthly . To keep up an old Standard under an old Denomination , below the value of Bullion is the greatest Folly imaginable , and what is not practised in any other Nation , for which we have paid dear and yet are not grown wiser ; for it first carried away all our Gold , which was very plentiful here , in the time of King Charles the First , then all our Old and Broad Mony , and lastly , all our Milled Mony , which was as plentiful in King Charles the Second's time ; notwithstanding the Ballance of Trade was much on our side , and has put an absolute stop to our Mint as to Silver for many Years past , and brought such a want of the Species , that our Mony was Clipt down to above half , and yet not sufficient to keep out a vast quantity of false Mony to supply the Defect ; and whereas it has been alledged , that the rise of Guineas to 30 s. has been by a Trick of the Goldsmiths ; their rise has been naturally necessary , and would have produced no ill Effect , could Foreign Guineas been kept out , for at highest they were advanced not to a full Third , and our other Coin by reason of its Clipping , was not indeed worth a Moiety in its intrinsick Value , and the Counterfeit part much less , taken together . Lastly . Altho it were desirable , were we in better Circumstances as to the ballance of our Trade , that our Silver Mony should be kept up in weight and finess , near the intrinsick value of Bullion , or at least the Standard of our Neighbours Coin ; yet it ought always to below rather then above it , to prevent the Exportation of Mony , insteed of Commodities , and to bring Bullion into the Mint , especially since the plenty of the Species of Mony , is the only thing that can advance Trade , and the value of Lands , But as our present Circumstances are , there is an absolute Necessity that we raise the Denomination of our Silver , both in respect of Gold , and the over ballance of our Dealings abroad ; if you will have any Mony at home to support Commerce ; nor can such an Advance hurt us in the least , since at worst a broad they will only take their measures according to the intrinsick value , or rather the Standard of their own Coin ; and if they raise their Commodities proportionably , it will bring us a double benefit to discourage the Consumption ( whereof we are too prodigal ) and Encourage the Advance and Consumption of our own Commodities , and keep our Mony at home , which will be the least thing carried out , when it will pass for more here than there . As for Guineas , the fall of them was not only unnecessary , but highly prejudicial to the Kingdom ; first , because Guineas has bought up all the Silver Mony that was left in the Country , and consequently left us no other Coin to carry on Trade and Subsistance ; and after the raising of Seven Millions , will be a Tax of Eight Shillings and Six-pence upon the Subjects , and the plenty of Silver Mony is the only thing that will reduce them Gradually . To conclude , as to our Forigne Commerce , the price of our Commodities were raised accordingly , and therefore could not hurt us ; now if Guineas fall , all Commodities must fall , and the want of fixing them at a certain price will cause a mighty loss , and interruption in our Traffick , and this is certain that nothing but care of our Trade at home , and lessening the Expence of our Army abroad , by having a free Port , altering the Quota's of our Allies , or Capitulating with the Dutch for the payment of the Subsistance of our Forces in Flanders , can possibly enable us to carry on our War , Trade , and home Commerce . FINIS . 
A64755	----	A discourse of coin and coinage the first invention, use, matter, forms, proportions, and differences, ancient and modern. With the advantages and disadvantages of the rise and fall thereof, in their own or neighbouring nations: and the reasons. Together with a short account of our common-law therein. As also tables of the value of all sorts of pearls, diamonds, gold, silver, and other metals. By Rice Vaughan, late of Grays-Inn, Esq; Vaughan, Rice. 1696 Approx. 1 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-03 (EEBO-TCP Phase 1). A64755 Wing V131 ESTC R217604 99829262 99829262 33699 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A64755) Transcribed from: (Early English Books Online ; image set 33699) Images scanned from microfilm: (Early English books, 1641-1700 ; 1940:8) A discourse of coin and coinage the first invention, use, matter, forms, proportions, and differences, ancient and modern. With the advantages and disadvantages of the rise and fall thereof, in their own or neighbouring nations: and the reasons. Together with a short account of our common-law therein. As also tables of the value of all sorts of pearls, diamonds, gold, silver, and other metals. By Rice Vaughan, late of Grays-Inn, Esq; Vaughan, Rice. Vaughan, Henry, 1622-1695. The second edition. [12], 117, 120-[2]48, [4] p. : tables printed for Anthony Feltham, at the foot of the Parlament-Stares, Westminster, London : 1696. "Epistle dedicatory" signed: Henry Vaughan. Caption title on p. 1: Of coin and coinage. Text is continuous despite pagination; the "2" on the last numbered page failed to print in the copy cataloged. Tables giving the values of precious stones begin on L11r (pp. 237-245). Reproduction of original in the University of Illinois (Urbana-Champaign Campus). Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England -- Early works to 1800. Money supply -- England -- Early works to 1800. Precious stones -- Valuation -- England -- Early works to 1800. 2008-02 TCP Assigned for keying and markup 2008-03 SPi Global Keyed and coded from ProQuest page images 2008-04 John Pas Sampled and proofread 2008-04 John Pas Text and markup reviewed and edited 2008-09 pfs Batch review (QC) and XML conversion A DISCOURSE OF COIN AND COINAGE : The First Invention , Vse , Matter , Forms , Proportions , AND Differences , Antient and Modern With the Advantages and Disadvantages of the Rise and Fall thereof , in their Own or Neighbouring Nations : And the Reasons . Together with a short Account of our Common-Law therein . As also TABLES of the Value ot all sorts of Pearls , Diamonds , Gold , Silver , and other Metals . By Rice Vaughan , late of Grays-Inn , Esq The Second Edition . London , Printed for Anthony Feltham , at the Foot of the Parlament-Stares , Westminster , 1696. Price Bound 
A60850	----	Some remarks on a report containing an essay for the amendment of the silver coins made to the right honourable the Lords Commissioners of His Majesties treasury / by Mr. William Lowndes ... Lowndes, William, 1652-1724. 1695 Approx. 32 KB of XML-encoded text transcribed from 14 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2003-01 (EEBO-TCP Phase 1). A60850 Wing S4598 ESTC R1350 11781886 ocm 11781886 49108 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A60850) Transcribed from: (Early English Books Online ; image set 49108) Images scanned from microfilm: (Early English books, 1641-1700 ; 549:1) Some remarks on a report containing an essay for the amendment of the silver coins made to the right honourable the Lords Commissioners of His Majesties treasury / by Mr. William Lowndes ... Lowndes, William, 1652-1724. [2], 24 p. Printed for W. Whitlock ..., London : 1695. Reproduction of original in the University of Illinois (Urbana-Champaign Campus). Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. 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Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England. 2000-00 TCP Assigned for keying and markup 2001-11 SPi Global Keyed and coded from ProQuest page images 2002-02 TCP Staff (Oxford) Sampled and proofread 2002-02 TCP Staff (Oxford) Text and markup reviewed and edited 2002-03 pfs Batch review (QC) and XML conversion SOME REMARKS ON A REPORT Containing an ESSAY For the Amendment of the Silver Coins , Made to the Right Honourable The LORDS COMMISSIONERS OF His Majesties Treasury , BY Mr. William Lowndes , Secretary to the said Lords Commissioners . LONDON , Printed for W. Whitlock , near Stationers-Hall , 1695. SOME REMARKS , &c. THat the Clipping and Counterfeiting the Silver Coin of the Nation is a great and growing evil , there is no doubt ; and seeing the Lords of the Treasury have been pleased to take into Consideration the Remedy thereof ; and in order to it have commanded Mr. Lowndes to make a Report of such Matters as concerned the same ; which being published , with an Invitation ( at the latter end ) to others to communicate their thoughts , I doubt not but what I shall offer will be well received both by their Lordships and the Author of the Report , altho' I happen in some things to differ in my Sentiments from the said Author , whose Report I am now about to consider ; and shall treat it not with heat , as Persons commonly do who differ in Opinion , but with that respect which I really think it deserves . The Author must be acknowledged to be a Person of great Ingenuity and Industry , and in this elaborate Treatise of Coins now published , hath given sufficient evidence of both , and done great Service ; but as the Subject it self is ( as the Author says ) very difficult and curious , it gives room and scope for a further discussion ; and in the doing thereof I shall give an account in what I agree with the Author , and wherein I disagree , give my Reasons for such disagreement , and shall proceed as the matters lye in the Report . I am of the Authors Opinion as to the signification of the word Sterling , and I make no doubt but the Historical Account which he gives of the proportions of fine Gold and fine Silver , with the respective Allays observed from time to time , is exactly true , and of great use to be known . I am also of Opinion with the Author , that the present Standard of fineness ought to be continued , yet think that the Reasons he gives against the debasing of Money , are of equal force against altering the denomination or extrinsick value of Money , as he calls it , which I shall discuss more at large by and by , and in the mean time I must own , that the great Pains the Author has taken in examining and setting down the several Alterations made in Money from time to time , with respect to the Weight and Number of Pieces in a Pound Troy of Gold and Silver , and the difference in the Allays , deserves great Commendation , and has laid a very good Foundation for the exact discussing of this Matter . The Observation the Author makes from the said Deduction of the Alterations made in the Coins , is , That such Alterations have been practised as any Exigence or Occasion has required , and that no Inconvenience , Disgrace or Mischief has ensued by the doing thereof , but that all Projects for debasing Money are dangerous , dishonourable , and needless : And so comes to establish an Hypothesis , That making the pieces less , or ordaining the respective pieces ( of the present weight ) to be currant at a higher rate , may equally raise the value of the Silver in our Coins : To which Hypothesis I exactly agree , but the chief thing will want to be proved , viz. That either the one or the other will raise the Value of the Silver in our Coins , upon which the stress of the Question depends ; and I am of Opinion neither will , for Reasons which will afterwards appear . Indeed taking it for granted , that either would raise the Value of the Silver in the Coins , the manner the Author proposes might do , tho' it seems to me that the lessening the pieces one fifth part would be more natural and easie in accounts , and better corespond with the present kinds of Money commonly used : But because I cannot grant it , I come to examine the Author's Reasons for such an Alteration of the Denomination of our Coin : And the first is , Because the Price of Silver is risen , and that whensoever the extrinsick value of Silver in the Coin hath been or shall be less than the price of Silver in Bullion , the Coin hath been and will be melted down . So that the Author conceives , that giving a higher Denomination to a Crown Piece will prevent its being melted down : Wherein I must crave leave to differ from him in Opinion , and shall endeavour to evince that the Value of pure Silver in the Coin is , and always was , and ever will be , the same with the value of pure Silver in Bullion , or very near . There often happens some small difference , by the charge of Coining on one hand , or by a present occasion for exportation of Bullion on the other hand , which causes the Value of the one and the other to vary a small matter , but never considerable ; for it is impossible that the same quantity of Silver uncoined can be less worth than the same quantity of Silver coined , by more than the charge of Coinage and the interest of the Money whilest it is coining , and the trouble of carrying and fetching ; neither can the same Quantity of Silver coined at any time , be less worth then the same Quantity of Silver uncoined , by more then the charge of melting down , and a small matter for the Hazard , which will always be thought small , because it can be done privately , without a possibility of being discover'd . But the Author will say , how comes it to pass that Bullion now is worth 6 s. 5 d. an Ounce , and an Ounce of Silver in coin goes but for 5 s. 2 d. or thereabouts ? if that were so , I confess my Proposition would not hold ; but the case is thus : It is true , our great Losses at Sea and Interruption of Trade this War , and the payment of our Army abroad , our Exportation has not been sufficient to supply , and nothing can make that good but Money or Bullion , this brought a necessity of our Exporting Bullion ; which by the great occasion there was for it , advanced the price a small matter , but not considerable , whilest there was any Silver Coin passed , that had in a Crown the value or weight of about an ounce of Silver , as it ought to have ; but when all this sort of Money was gone or with-held , and the remaining English Coin was clipt , or counterfeited to that degree that the People could not distinguish the bad from the good , and began to think they might come to a loss by it in time , they undervalued it , or rather the said Money in it self became less worth , and the people chose rather to receive Gold , and so by degrees as the Silver Coin was diminished and debased in it self , so it fell in the Estimation of the People , and in proportion Gold advanced , and also Bullion , ( that is , not in it self , but in proportion to the bad money ) not that Bullion became worth 6 s. 5 d. an Ounce , or Gold 30 s. a Guinea , in good Mony , that is , in weighty standard Money , but in clipt and counterfeit Money , whereof 6 s. 5 d. was not of the true , nor esteemed value of 5 s. 2 d. and as we our selves grew sensible of the want of value in the Money that passed , so did Forreigners likewise , and the Forreign Exchanges soon altered accordingly , so that it cannot properly be said that Bullion is advanced much , or that Gold is advanced much , or that Commodities are advanced much , but that the Money that is exchanged for them is of much less value then it was , and the new coining of our Money will not , as I apprehend , alter the value of Bullion , Gold , &c. but will bring Silver in coin to its due value . The Author before he concludes his first Reason , mentions a Suggestion that has been made by some Men , That raising the Value of our Coin , or continuing it on the present foot , will be the same thing . As to that I confess I am of the same Opinion , but do not think that those Gentlemen mean thereby as the Author supposes , That Silver in Bullion will always during this War be dearer than Silver in Coin , because of the Necessity to Export it for the Forreign Expence of the War , and to answer the ballance of Trade , occasioned by the Interruption of our Navigation . But I take it that these Gentlemen mean , ( at least I do ) that the raising the Value of the Coin in Denomination , will not Answer any of the Purposes the Author intends , and will only injure some Men to advantage some others , whilst in the mean time no Benefit will accrue to the Kingdom in general , or to the Crown in particular , which I shall consider by and by , and also examine the Reasons the Author offers in answer to the said Suggestion , after I have gone through his general Reasons for raising the Value of the Coin in Denomination : Of which the second is , That it will encourage the bringing of Bullion to the Mint to be Coined : Wherein I must also crave leave to differ , for a Crown new Coined , tho' called six Shillings and three Pence , will have no more Silver , or intrinsick Value in it than an old Crown not diminished , and will exchange for no more of any other Commodity , nor for more Bullion than now it will. If the Money be all New Coined , and a Crown goes for 5 s. as now , then will Bullion presently fall to about 5 s. 2 d. an Ounce , as formerly , and the Exchange for Holland rise to its former height , or near it ; and if you call the Crown so New Coined 6 s. 3 d. Bullion will remain about the Price it does , and the Exchange for Holland also : And if you give the New Coined Crown the Denomination of Ten Shillings , Bullion will also immediately be worth about Ten Shillings an Ounce , so that none will have any more advantage by having their Silver coined on that score than they have now ; or if that were likely to encrease the coining of Bullion , why should not the Crown Piece rather be called Ten Shillings then six Shillings three Pence ? It can only be said , the Loss of those that are to receive Money due will be the greater . But the same Argument holds against raising it to Six Shillings three Pence , for wrong ought not to be done in any Proportion . The Author's third Reason for raising the Value of the Silver in the Coin ( which is in Truth only raising the Denomination of it ) is To increase the Species in tale ; but I think it will not do that neither , unless it could be said , that coining ten thousand Half-crowns did encrease the Species in tale more then coining five thousand Crowns , which I suppose will not be thought ; and it seems the same thing to encrease the Coin in Denomination only , let it be in what proportion it will , and no otherwise then if the KING should appoint a Half-yard to be called a Yard , would encrease the quantity of Cloth in the Nation that is to be measured thereby ; for indeed Money is only a Measure for all Commodities , and the Standard thereof is settled , by which People have governed themselves in their Contracts , and the altering the Measure in any kind , whether it be Money , length , or weight , is ( as has been said ) a Wrong to those that are to receive , a present tho' unjust Advantage to those that are to pay , and no Benefit to the whole . But this I shall have occasion to speak more to . The fourth Reason saith , That the old unclipt Monies ought to be raised in proportion . Now if it were fit to make such an Alteration in the Denomination of the New Coins , it may be considered , Whether it would not be more reasonable that the KING should have the Advantage by all the Old Monies , rather then a few particular Persons , who have pick'd out the weighty Monies and laid by , in hopes of such an Advantage . As for instance , a Banker who may have usually twenty Thousand Pounds , or more , in Cash , and has in a little space it may be received and paid two Hundred Thousand Pounds ; suppose he has cull'd out and laid by but ten Thousand Pounds weighty Money , upon the proposed Alteration he gets two Thousand Pounds , and so will every one get in proportion who has weighty Money , which he receives for others Accounts , and not for his own : And it is an Infallible Rule , that Wherever some get without a real Increase of the Stock , others must lose , as in this Case , and the Cases of Stock-jobbing , Wagering , Lotteries , &c. The Fifth , Sixth and Seventh Reasons , argues the Conveniency of raising the value of a Crown to 6 s. 3 d. and of old unclipt Money to the same value , which being grounded on the Supposition that the proposed Alteration will yield Advantage , and answer the Ends designed , but containing no further Argument to prove it , I pass over , and shall only add , that if it were granted , please to consider , Whether giving the New Crown the Denomination of Ten Shillings , ( as before hinted ) would not better answer all the ends of Accompts , Computations , &c. The Eighth Reason is taken from the Difficulty of amending the Clipt Money , without raising the value of the Silver , because of the great deficiency of the Silver clipt away , which upon recoining must necessarily be born one way or other . Now as to the Loss by the Clipt Money , I take it that it is already lost , and born by the Nation in general , for that which is Clipt off , is spent and gone , and every Crown of the remainder is not worth above three Shillings and six Pence , or thereabouts , neither will it purchase more of other Commodities , that is , exchange for more : And therefore those who receive Rent and Monies upon former Contracts , &c. do for the present bear a part of the Loss , in as much as he that receives 100 l. per An. Rent , cannot as abovesaid purchase more Commodities or Necessaries for the said 100 l. than he might have done before ( and might do now ) for 70 l. if the Silver Coin were unclipt and good , so that he loses 30 l. per Ann. out of his 100 l. but it is not reasonable he should always do so . Now if the Money be New coined , and the Crown called 6 s. 3 d. I take it clearly that every Man loses one fifth part of all his Rents reserved on Leases and other Contracts , which does not seem reasonable and just . Then the Question will be , Who shall bear the said Loss ? and my Answer to that must be , that as I have said the whole ( or near it ) being lost to the Nation already , I think the said loss ought to be distributed to every one in proportion ; that is , that there should be an equal Tax laid to make good the whole ; which I believe considering the Vexation and Loss which People meet withall daily in the Money that passes , would be very chearfully born by all , over and above the other necessary Taxes , which as yet the Nation is able to bear , and I conceive it might not be very difficult to propose , and I shall humbly make bold to offer my Thoughts , if such a Resolution comes to be taken . If it could be shown , that by raising the Denomination of the Coin any real gain would accrue to the Realm , whereby to help to defray the Loss , I think it were a good Expedient ; but that being otherwise , in my humble Opinion I should think it hard , that the whole , or any part of it should be born so unequally as I apprehend it will be by the proposed means of raising the Coin. The Ninth Reason only intimates the Expediency of keeping the Coin to the old Standard in fineness , and weight , or bigness ; which depending on the former Supposition , I pass ; only , the Author suggesting that the said raised Values may be lowered again hereafter , gives me Occasion to say that I apprehend there will be the same Injustice ( to the Tenants and others that are to pay Money upon Contracts , &c. ) in lowering the Coins at any time , as would be now to the Landlords and those that are to receive Money in raising them . As to the Gold , the Author is of Opinion not to alter the Coins of that ; and that the Remedy to fix these Gold Coins upon a right Foot will be the re-establishment of the Silver Coins , wherein I concurr with him . Before I leave the Author's Second Head , I must according to my Promise consider his Answer to an Objection he starts , as made by some , That raising the Value of our Coin , or continuing it on the present foot , will be the same thing ; and then he takes their meaning to be , that Silver in Bullion will always during this War be dearer than silver in Coin , because of the necessity to export it for the forreign expence of the War , and to answer the ballance of Trade . And tho' I suppose that is not their meaning ( as I have before said ) yet it will be fit to consider what the Author says in answer , which is , First , that this Necessity may be diminished , but it cannot in any sence be augmented by raising the value of our Coin. To which I reply , if it be a doubtful thing , I think there will not be found reason sufficient to introduce so great a Mischief , where the matter is doubtful whether it will succeed or no. The Author , Secondly , On a supposition that Bullion in this case may advance further , says , That howover Offenders then will not have the same encouragement to melt down our Coin , because their profit on every rais'd Crown must be less by fourteen pence half penny than it is at present upon a Crown running in payment for five shillings only . It is true , if unclipt Crown-pieces went currant in payment as formerly , and Bullion sold for 6 s. 5 d. there would be great gain in melting them down , but as I have said , as soon as ever Bullion rose in price any thing considerably , it was occasion'd by the undervalue of the clipt Coin , and forthwith some of the unclipt Coin was melted down , which yielded some profit , but not near the proportion of fourteen pence half penny in a Crown . Indeed those who have kept unclipt or mill'd Money till this time , may make an advantage , but it is no otherwise then they might do if they had kept any other Commodity , which sells for more than it did , by reason that the Money commuted for the same is of less value ; that is to say , the measure is alter'd , which shows by the way that common consent grounded upon reason and necessity in Trade and Dealing is of more force than Laws and Statutes , either with respect to the value of Silver , or interest of Money , but that by the by . And to return ; you may now have the same quantity of Bullion for a five shilling piece unclipt , as you shall have hereafter for the same quantity of Silver in Coin , tho' you call it 6 s. 3 d. or 10 s. or by any other denomination ; and an Ounce of Bullion is not now worth 6 s. 5 d. good weighty standard Money , but it is worth so much of the clipt bad Money which now goes about ; which bad Money , as I have said , is really fallen in its value , and not Money of full weight or Bullion risen , and those that shall melt down Money now , cannot I think properly be said to get fourteen pence half-penny an Ounce by it , because the good unclipt Money does only retain its former value , and the clipt and bad Money is less worth than it was by at least 30 per Cent. and the case being so , it cannot be supposed that any will pay good Money , for the difference is not only by melting the Money into Bullion , but by other Commutations , or Exchanges ; you shall buy as much Cloath , Wool , or any thing else now for 5 s. of silver , Coin that is weighty , as you may for 6 s. 3 d. and more of the money that now goes currant , and if there is little profit made now by melting down Money , the difference can be but little when the Crown piece shall have a higher denomination . The Author's third Answer is , That it is hoped the Exchange to Holland may by the success of some good designs now on foot be kept at a stand , at least from falling much lower . To which I say , if Guineas continue currant at 30 s. a piece , the Exchange will continue about the rate it does , except the common and ordinary variation , which many sudden Drafts or Remittances occasion ; and if Guineas fall , the Exchange will rise in proportion , and if the Silver Coin is redressed , Guineas will fall , and there are no other designs whatsoever can effect any considerable alteration , for English standard Silver and standard Gold will always be of the same value in Holland , as the same standard Silver and Gold in England , within 2 , 3 , 4 , to 6 per Cent. or thereabouts , and that difference happens according to present occasions , and the charge of sending it from one place to another , and the Exchange to Holland and other places will always govern accordingly . The Author says in the fourth place , That there is a difference between exporting Bullion or Coin for the service of the Government , or by Publick Authority , and such an exportation as proceeds from the exorbitant profit of the Melters . But let the occasion be what it will , either for the service of the Government , that is , for paying our Forces abroad , &c. or for the paying what we owe by the over-ballance of Trade , if we owe abroad more then our Exports in Commodities can supply , Money or Bullion must go , and go it will till People are grown poorer , and then they will abate in their expence of Forreign Goods , and so the tide will turn again ; but we ought to husband our Trade so , as not to suffer that Poverty to come upon us , which will have a bad effect to weaken our Hands , and expose us to a more Powerful Enemy ; before the English Coin was so clipt and counterfeited as really to debase it in the Esteem and Value of the People , and consequently of Forreigners , there was little profit made by melting down our heavy Money , as has been said , ( but in this case it is necessary to repeat some things ) and Bullion advanced but little : But when the Money declined in its value in the common opinion , then Bullion advanced , and consequently Gold , and so likewise have all other Commodities , or rather they kept their old value , and you must give more clipt shillings and half Crowns to make up the value of a Pound sterling then you did before ; and since that People have culled our their heavy monies , and cannot so truly be said to have gained by melting them down , ( that is , those who receive and pay money only for their own accounts ) as to have held their own , whilest they and others have lost by the clipt and bad money : For suppose a man has now reserved an hundred weighty Crowns , he melts these down into Bullion , which sells for 6. s. 5 d. an Ounce , this he receives in clipt and bad money , and with this he can buy no more Necessaries then he could before with his hundred Crowns ; where then is the Gain ? It is true you will say , if he ow'd money before on any Contract , or for Rent , he profits in the payment , which is what I have said before , that those who were to receive monies have sustain'd some present real loss , which in case monies should be raised in their denomination they will continue to bear , which seems not equal ; this the Author takes notice of in his fifth and last Answer , wherein what he says concerning the ballance of Trade , and the cause of the Exportation of Silver arising thence , is very true in the main , tho' by the way it is not that which occasions the great fall in the Exchange between Holland and here , but the reason of that is the badness of our silver Coin. Now as to the loss which will happen in all Rents and Revenues , publick and private , &c. The Author says the value of silver is risen , and so persons may purchase as much with a new Crown called 6 s. 3 d. as they can with 6 s. 3 d. of the clipt money that passes now : I agree they may do so , but it is not that silver is risen so much , but because our Coin is fallen in value , or debased , therefore silver seems to be risen , when in truth it is not , ( I mean in any great degree ) and the loss is , that so much cannot be purchased now for 6 s. 3 d. as might have been before the debasing the money . The Price of silver is what it is worth in good weighty standard money , not what is it worth in bad , for silver is now worth in Holland not above 5 s. 3 d. an Ounce , and therefore as is beforesaid , the ballance of Trade is not the cause of the great fall of the Exchange for Holland , but the debasing of our Coin , and if ( as I have often said ) some loss has already happened to particular Persons , I think it is fit a stop should be put to it , and this cannot truly be done , but by new coining the Money according to its old denomination and standard . And here it may be fit to say something particularly concerning the King's Revenue ; as the Money commonly currant is debased , and thereupon the Exchange for Holland proportionably fallen , the Crown loses about one fifth part of all the monies paid abroad to the Army , and also of all monies expended here , except Wages to Seamen and Sallaries , &c. in the civil list , for that all the Commodities both from abroad , and those produced at home , cost at least one fifth part more than they did , and consequently five Millions now will go no further than four did before , and the case will be the same if the Crown be new coined , and called , or raised to 6 s. 3 d. then , whereas about five Millions a year has been thought necessary for the carrying on the War , there must in such case be given six , and the Land which was before charged 4 s. in the pound , must be in proportion charged 5 s. in the pound now , but then consider the condition of the Landlord , in case of raising the Crown to 6 s. 3 d. he pays 5 s. out of 20 s. for 4 s. that he paid before , and for 20 s. he received , or was to receive before , he receives now but 16 s. that is , altho' what he receives be called 20 s. yet it serves him but to the same purpose that 16 s. did before . Having now done with these Reasons , I pass to the Author's Corrollary , wherein he Notes , That the ballance of Trade is the Original Cause of the scarcity of silver in England , and the loss by the forreign Exchange : The first is most certainly true , and as the Author says , whoever can propose a means to convert it to our advantage , ought well to be heard : Indeed Necessity will enforce it er'e long . But the reason of the fall of the Exchange to Holland , &c. ( where we give the certain Summ , and they in exchange the uncertain ) or its rise to other places , where we give the uncertain Sum and they the certain , is not the scarcity of silver here , for that would rather have just the contrary effect , but the reason is the badness of our present currant Coin , as has been before intimated , which I own cannot be now remedy'd any other way but by new coining it . The Author's Second General Head concerns the present state and condition of the Gold and Silver Coins , on which the Author discourses very ingeniously and rationally , and I believe hits as near the truth of the Matter as any one can , in facts that can only be estimated and guessed at . The Author under his third Head , gives reasons for the new coining all the Money , and the necessity of it , wherein I perfectly agree with him , without entering into a consideration of all the Reasons particularly , only I shall add two which I think weighty , the first is , the Present and Continued Loss ( till it is effected ) to those who receive Rents and Money upon former Contracts ; the other is , the loss to the Crown in the Money given for Aids , which can in no sort be compensated by the gain upon the Money the Crown shall at such time happen to have in Cash . The Author in his fourth and fifth general Heads , proposes the means and methods for re-establishment of the Silver Coins , and supplying the Commerce , and paying Taxes in the mean time , which I think in the general are admirably well contrived , and no doubt but the matter is practicable , as he proposes it ; and if any difficulty should arise , it may easily be obviated , and therefore I will not enter into an Examination of the particulars , but must acknowledge the Author has taken great Pains , and shown great Judgment and Ingenuity in fixing the Method to render it practicable ; and I am sorry I am forced to disagree with him about altering the denomination of the Money when recoined . I must also declare my thoughts , that it is not to the Advantage of the Kingdom to restrain the exportation of Bullion , or indeed of Money it self , to any certain Quantity , but to let it be intirely free : Nor would I oblige Vintners , Ale-house-keepers , &c. to bring in their Plate to be coined , the more Plate and Jewels in the Nation , the better and the greater is its Stock and Riches , and when those who have Plate or Jewels have occasion , or are necessitated , they will part with them without being compelled , and till then there is no need of it . Many reasons might be given for these Positions , but I do not think it material now . Before I conclude , I must take Notice of one or two things more : The Author thinks justly , that the debasing of the Coin , that is , the adding a greater Allay to the Silver , is dangerous and dishonourable , and the reason thereof must be , because there is a less Quantity of Silver ordained to pass for the same value which before a greater Quantity did , which being unjust to those who had Money owing , was a breach of the Publick Faith , and therefore dishonourable , and by consequence dangerous . Further the Author owns , as the truth is , that only the security of the Trade , and an over-ballance by that , can encrease the stock of Silver and Bullion in the Nation , wherefore it necessarily follows that whilest there is occasion to pay more abroad then we receive from thence , Money and Bullion will be sent out : So that if the Money should be new coined , and Trade not secured , it would all presently go out of the Nation , and calling a Crown by any other name , whether it be 6 s. 3 d. 10 s. or 20 s. it would not at all contribute to the keeping either Coin or Bullion in the Kingdom , because the Exchange would presently alter in proportion . I shall not add any further , but humbly submit what I have offer'd to Consideration . FINIS . Advertisement . There is Newly Published , SOme Thoughts concerning the Better Security of our Trade and Navigation , and carrying on the War against France more effectually : Humbly offered to Consideration . Notes, typically marginal, from the original text Notes for div A60850-e100 fol. 19 , to 27. 29. fol. 34 , to 56. 61. 68. 72 to 82. 82. 83. 84. 85. 86. 72. 73. 74. 90. 118. 152. 
A52733	----	A proposal for amending the silver coins of England, and the possibility of it, without any great charge to the nation. Demonstrated in two different ways. Neale, Thomas, d. 1699? 1696 Approx. 61 KB of XML-encoded text transcribed from 32 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2004-05 (EEBO-TCP Phase 1). A52733 Wing N349 ESTC R222058 99833296 99833296 37772 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A52733) Transcribed from: (Early English Books Online ; image set 37772) Images scanned from microfilm: (Early English books, 1641-1700 ; 1783:10) A proposal for amending the silver coins of England, and the possibility of it, without any great charge to the nation. Demonstrated in two different ways. Neale, Thomas, d. 1699? [2], 60 p. printed for the author, and are to be sold by R. Baldwin, near the Oxford-Arms in Warwick-lane, London : 1696. By Thomas Neale. Reproduction of original in the University of Illinois (Urbana-Champaign Campus). Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. 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Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England -- Early works to 1800. Coinage -- Economic aspects -- Early works to 1800. 2003-12 TCP Assigned for keying and markup 2004-01 Aptara Keyed and coded from ProQuest page images 2004-02 Jonathan Blaney Sampled and proofread 2004-02 Jonathan Blaney Text and markup reviewed and edited 2004-04 pfs Batch review (QC) and XML conversion A PROPOSAL For Amending the Silver Coins OF ENGLAND , And the Possibility of it , without any Great Charge to the NATION . Demonstrated In Two Different Ways . LONDON : Printed for the Author , and are to be Sold by R. Baldwin , near the Oxford-Arms in Warwick-lane . 1696. A PROPOSAL For Amending the Silver Coins OF ENGLAND , &c. HAving often reflected on the Misfortunes , that the Clipping Counterfeiting , and Melting down of the Silver Coin of England would bring on this Nation ; and fore-seeing that I should be involved in the same as a Member of the Society ; I thought it my Duty to bestow sometime in the thoughts of endeavouring to find out a proper Remedy for that Publick Disease , being encouraged by the Insight I have had already into that matter , having had an occasion to apply my self to know the different Standards of Gold and Silver , either in Ingot , or in Current Coin. I fram'd then a Project about two Years ago , in which I had always before my Eyes the great Difficulty of finding out a sufficient Fund to carry on the War , and supplying the Charges of amending our Silver Coins . 'T is true , the Distemper was not then so great as it is at present , but I thought it ought speedily to be remedied , for fear it should become worse , if I may say , not uncurable . I considered therefore with my self all the Objections that , I think , are made at this day ; and , I hope , I have removed them as much as is possible , humanly speaking . However , I grant , that there are in this Case such Difficulties as will never be removed , if no Body will contribute towards it , as for Example ; 'T is certain , our old Coin is hardly worth half of its first value , and if every Body will have the old Species changed for new ones of the same Weight , Standard , and Price , as the old was made for , and will not at the same time contribute any thing towards it under pretence of the Taxes he is obliged to pay , to carry on the War ; I don't know how they may be satisfied unless one should have the power of making something of nothing , or the rare Secret so much inquired after , of converting our Lead into Gold or Silver . But if Men were more reasonable , and were once sensible of the Inconveniences that bad Mony brings into their Trade , and of the loss they suffer daily by the diminution of the Coin , they would ( rather than be reduced to Trust or Exchange ) earnestly intreat the King and Parliament to find out , in their Wisdom , a proper Remedy for that Disease , and instead of repining at the very name of Taxes , for that purpose , they would cheerfully offer to pay them ; for the Amendment of our Silver Coin will appear to any Thinking Man , a necessary Thing to secure our Riches , establish our Prosperity , and enable us to carry on this War with more Vigour , and less Charge . But if Men will shut their Eyes against their own Interest , must we be always in this deplorable Condition ? I don't think so , and I make bold to say , that His Majesty and the Two Houses of Parliament are to the rest of the Nation , what a good Father is to his Child : And now supposing that a Father had suffered his Child to be several times let Blood by way of Precaution , or to preserve his Health ; would it not be a very odd thing if he should refuse to suffer him to be let Blood once more to dissipate a Flux , which according to the Judgment of the best Physicians , would infallibly deprive him of his Sight ? Sure I am , that no good Father would give ear to the unreasonable Apprehensions his Child should have of the Chirurgions Lancet . The Application is easy enough , but , I hope , it is needless ; for , I think , I see a better Disposition in the Nation , and every Body seems resolved to pay what Taxes shall be found necessary to free our selves from the innumerable Inconveniences that attend the badness of our Coin. This Disposition ought to Encourage all Friends and true Lovers of England , to impart all they know of this Matter , so that their Projects being compar'd together , the best and the most easy way might be abstracted out of them , for the Amendment of our Silver Coin. The Right Honourable the Lords of the Treasury have given us a good Example , in desiring some Ingenious Gentlemen to give their Opinions concerning several Projects , and ordering Mr. Lownds their Secretary to make a Report of the same , with his own Thoughts on the Case , which he has performed with a great deal of Ingenuity and Accuracy . It was from this Motive , that I made bold to present on the Fourth of Ianuary last , to the Lords of the Treasury , a Project for Reforming our Coin ; which since that time , I have laboured to improve and illustrate , by answering all the Difficulties and Objections , that I thought could be made against it . I have also examined the various Opinions of those who have written on that Subject , and perused almost all the Projects that were given the last Session of Parliament . It would be useless , and too tedious to make particular Observations on those Projects , and therefore I 'll content my self with these few General Propositions . I. That an Ounce of Gold and Silver of the same Weight and Standard , has in all parts in the World the same Intrinsick value , as here in England . II. That the Denomination of the pieces of Gold and Silver , or the raising or the lowering their current Price , adds nothing to the Intrinsick value thereof ; as for Example , If the Piece we call a Crown , was raised from five Shillings to ten Shillings , or lowered to 2 s. 6 d. it is always the same Piece , there is no more and no less Silver in it , and its Allay is neither courser nor finer . III. If its Intrinsick value be always the same ; 't is plain that Foreigners will take our Coin according to it , and not according to its Denomination . VI. That our Coin being taken by Foreigners only according to its Intrinsick value , they give their Commodities in Exchange , in Proportion to the same . V. That they take our Commodities in Exchange for theirs , or for Gold or Silver proportionably , according to the Estimation they make of our Coins , viz. according to its Intrinsick value . VI. That the Exchange with Foreign Countries is always fixed and settled , ( or with a very inconsiderable difference , sometimes more sometimes less , according to what we owe them , or they owe us ) when the Value , Weight , and Standard of the Coins are settled . VII . That Foreigners make a considerable profit upon us , by reason of the uncertainty of the value of our Clipt Mony , and have a great advantage in the Exchange , taking the occasion from the badness of our Mony. From these Observations it follows , that the raising or lowering our Coin , is nothing to the Riches of our Country , but that it is highly necessary to melt down all the Clipt Mony , to make new Coins , which may not be Clipped , and to fix its Weight and Standard , and then all the Commodities , both of our own Country , and Foreign ; and the Exchange will in a short time fall proportionably to its Intrinsick value . There is no sensible Man , but will , I am sure , own this Consequence , and that it is time to do it , the Disease growing every day worse and worse ; but the great Difficulty is to find out a Practicable Way in this time of War. I must confess this is a weighty one , but , I hope , the Project which I offered last Year to the Lords of the Treasury , will make it appear to be very possible , and therefore I offer it again with some Additions , in Relation to the Present Time. I don't presume however , that this Project should be the only one by which our Coins may be amended , seeing I have since that time made another , which I have annexed to my former , to shew that I am very willing to impart whatever I know on this Subject ; and , I think , as I said before , that every true English-man ought to do the like . A PROPOSAL to have all the Silver Mony of England Melted down , and made New , and to be of the same Weight and Standard , as the New Mill'd Mony now is , or of more ; and that the Loss which thereby will happen to those who have Clipt Mony , will be so inconsiderable , that even they themselves shall be willing to bring in their Mony to be new Coined , and that the Diminution of the Numerical quantity of Mony , which will happen by the Melting it down , will be more than supplied . WHereas the Crown Piece , or its value and weight in half Crowns , Shillings , Six-pences , &c. is by Clipping reduced ( one with the other ) to very near one third part of Loss , as it will appear by a Computation , hereunto annexed , in which 't is shown , that the said Crown Piece , and any other Piece proportionably from Nineteen Penny Weight 254838 / 1000000 parts of Penny Weight , that the said Crown ought to weigh , is now reduced to Thirteen Penny Weight or there abouts , from whence it follows , that upon Five Millions of Silver Coin , it is 1666666 l. 13s . 4d . of Loss ; which Loss cannot be mended by the usual ways , but by a General Tax , ( which is not seasonable in this time of War ) or by Means that are not proportionable to the Grandeur of this Nation , as the lessening of the Weight of the Coin , without increasing the Price thereof ; or the lessening of the Standard , by mixing of Copper or other Allay ; or lastly , in setting an higher value than Five Shillings , or Sixty Pence to the said Crown Piece . And whereas it is absolutely Necessary to prevent the Clipping of the Coin of this Kingdom for the Future , the following Expedients have been found . I. That in two Years time , viz. from the 25th of March 1696 , to the 25th of March 1698 , all the Silver Coin of England should be brought to the Mint , to be melted and new Coined , and there to be taken and paid according to its Weight , in new Coin Standard , of the Weight hereafter-mentioned , and for the Price hereafter specified . II. That from the 25th of March 1696 , to the 25th of March 1698 , all the Coin of England , Clipt or not Clipt , should pass Current , and be taken in Payment for the Price it was made for , viz. Crown Pieces for Five Shillings , half Crowns for Two Shillings and Six-pence , Shillings for Twelve-pence , Six-penny Pieces for Six-pence , one , two , three , or four Penny Pieces for the Price they go now for , ( the Exceptions hereafter mentioned only Excepted . ) III. That from the 25th of March 1696 , to the 25th of March , 1697 , any Crown Pieces , or their value in half Crowns , Shillings , Six-pences , &c. that ought to weigh Nineteen Penny Weight , and shall weigh only Fifteen dw . , not only should pass in Current Payments for Five Shillings , but be taken at the Mint for that Price , separated or mixt together with other Crowns of more or less weight ; Shillings of Three dw . for Twelve Pence , the Six-penny Piece of 1 dw . 12 gr . for Six-pence ; the Four-penny-piece of 1 dw . for Four Pence ; the Three-penny-piece of 18 gr . for Three-pence ; the Two-penny-piece of 12 gr . for Two-pence ; and the One-penny-piece of 6 gr . for One Penny. IV. That from the said 25th of March 1697 , to the 25th of March 1698 , any Crown Pieces or their value in Half-Crowns , Shillings , &c. as above , that shall weigh only Fifteen Penny Weight , shall pass in Current Payment for Four Shillings Four-pence Half-penny ; and for that Price shall be taken at the Mint separately , or mixed with others : The Half-Crown for Two Shillings Two-pence Half-penny ; the Shilling for Ten-pence Half-penny ; the Six-penny Piece for Five-pence one Farthing ; and the Four , Three , Two , and One-penny Pieces shall pass in current Payment for their ordinary Price , but at the Mint they shall be taken only according to their Weight , at the Rate of Five Shillings and Ten-pence an Ounce . V. That from the said 25th of March 1698 , and thenceforth all the old Silver Coins of England be Cry'd Down , insomuch that no Body takes it in Payment for any Price , and that the same be Sold to the Mint , and no where else as Bullion , after the Rate of Five Shillings an Ounce ; which shall be for the Future the settled Price of the Ounce of Silver Standard : VI. In order to encourage People to carry their old Mony to the Mint to be Melted , it shall be allowed at the Mint , from the 25th of March 1696 , to the 25th of March 1697 , One Penny profit for every Penny Weight that any Crown shall weigh above 15 dw . viz. a Crown , or its value in Half-Crowns , Shillings , &c. Weighing 16 dw . shall be taken at the Mint for Five Shillings , one of 17 dw . for 5 s. 2 d. ; one of 18 dw . for 5 s. 3 d. ; one of 19 dw . for 5 s. 4 d. ; and one above 19 dw . if any for 5 s. 5 d. VII . And to lessen the Loss of those that shall have Crowns , or any other Coins Proportionably under the weight of 15 dw . till 10 dw . ; it shall be abated only Two-pence for every Penny-weight , that such a Crown or Crowns , or other Pieces proportionably , shall weigh less than the said 15 dw . from the said 25th of March 1696 , to the 25th of March 1697 , viz. a Crown from 15 dw . to 14 , shall be paid at the Mint 4 s. 10 d. ; one from 14 dw . to 13 , 4 s. 8 d. ; one from 13 dw . to 12 , 4 s. 6 d. ; one from 12 dw . to 11 , 4 s. 4 d. ; one from 11 dw . to 10 , 4 s. 2 d. : And from the said 25th of March 1697 , to the 25th of March 1698 , it shall be abated Three-pence for every Penny-weight that a Crown Piece , or its value in Half-Crowns , &c. shall Weigh less than 15 dw . VIII . To encourage People to carry their Clipt Mony to the Mint to be Melted , and to moderate the Loss which will happen by the Crowns ( Half-Crowns and other Pieces proportionably ) that shall weigh under 15 dw . ; it shall be at the liberty of every Person , from the said 25th of March 1696 , to the 25th of March 1698 , to mix their Broad and Clipt Mony , so that the heavy Coin should make amends for the light one : As for Example , one who has two Crowns , whereof one weighs 19 dw . , and the other 11 dw . may by putting them together , reduce them to 15 dw . and receiv at the Mint 5 s. for each of them . IX . That no Crown , or its Value in Half-Crowns , Shillings , &c. that shall Weigh under 10 dw . , shall be taken alone at the Mint but as Bullion , viz. from the 25th of March 1696 , to the 25th of March 1698 , after the Rate of 6 s. 8 d. an Ounce ; but after the said 25th of March 1698 , and thenceforth the Bullion Standard shall be fixed at 5 s. an Ounce , and no more and no less . But such a Crown may be taken at the Mint , from the 25th of March 1696 , to the 25th of March 1698 , if mixt with other heavy ones , so that together they should weigh above the said 10 dw . The same Piece however shall pass Current in Payment for Five Shillings during that time , unless it should be Mark'd by an Officer appointed for that purpose , in which Case it shall cease to be Current , and shall be taken only by the Mint , as Bullion , after the Rate abovesaid . X. And to avoid the Clipping of our Coin hereafter , and make new Coins really worth what they shall go for ; 'T is Proposed to Coin henceforth at the Mint new Pieces called Crowns , Half-Crowns , Shillings , Six-pences , and Three-pences Standard , Milled and Stamped , as the now new ones are , with some difference in the Stamp , in order that they may be known one from the other . The New Crown to Weigh Twenty-penny Weight , the Half-Crown 10 dw . ; the Shilling 4 dw . ; the Six-penny Piece 2 dw . ; and the Three-penny Piece One-penny Weight , Coined so , that it should be two or three per Cent benefit upon the Mony , from the Weight of the Bullion , that is to say , That out of 100 Ounces of Bullion Standard , it should be made One hundred , and two or three Crown Pieces , whereof One per Cent shall be allowed to any Person that shall carry old Coin , for the value of Ten Pounds or above at once , to the Mint to be Melted , but no Allowance to be made under the said Ten Pounds . The Copper Farthings shall be estimated worth Two Grains of Silver , and shall go at any time hereafter , as they go now four for a Penny. XI . These new Coins shall be Current , from the 25th of March 1696 , to the 25th of March 1697 , viz. The new Crown for 6 s. 8 d. the new Half-Crown for 3 s. 4 d. ; the Shilling for 1 s. 4 d. ; the Six-pence Piece for 8 d. ; and the Three-penny Piece for 4 d. ; and for that Price shall be exchanged at the Mint for old Coin of England . XII . And from the 25th of March 1697 , to the 25th of March 1698 , the said New Milled Mony shall be Current only at the following Price , viz. The Crowns for 5 s. 10 d. the Half-crown for 2 s. 11 d. ; the Shillings for 1 s. 2 d. ; the Six-penny Piece for 7 d. ; and the other pieces in Proportion : But af-the 25th of March 1698 , and thenceforth no Silver Coin of England shall go , but the New One , viz. The Crowns for 5 s. ; the Half-crowns for 2 s. 6 d. ; and the Shillings , &c. in Proportion . XIII . But whereas the Melting of the Old Coin , and the Making of New , shall have diminished by the 25th of March 1698 , about one third Numerical part of the Silver Pieces , to supply that Diminution without any considerable Tax ; 't is Necessary that the Parliament should Enact . That from the 25th of March 1696 , and thenceforth all the Gold and Silver Bullion in Ingot , Plate , or otherwise ; above one Ounce for Gold , and twelve Ounces Weight for Silver , that shall be hereafter Imported or Exported , be Entred in a Book kept for that purpose at the Custom-House ; and from thence carried to the Tower of London , to be assayed there and Marked , how much better or worse it is than Standard , and Registred again ( the whole to be done Gratis , and with a free Cocket , as well for the Exportation as the Importation . ) The Pieces of Eight , or any other Foreign Coin , Gold or Silver , are also to be Registred , and if thought fit , Marked at the Tower ; ( The Pieces of Eight , Mexico and Sevil excepted as to the Mark. ) It shall be also at the liberty of any Person , that shall have Bullion , carried into the Tower to be Assayed there , to have it cast in Cakes of 40 , 50 , 100 , 200 , 300 , or 400 Ounces each , the same being first reduced to Standard , which shall be done Gratis . And from the 25th of March 1696 , to the 25th of March 1697 , all such Bullion Assayed at the Tower , and Marked Standard , cast in Cakes or not , and also all the Pieces of Eight , Mexico , or Sevil , ( although not Marked , ) shall pass and be Current in Payments above Ten Pounds , as the Coin of England , by the Ounce , and not by the Piece , after the Rate of 6 s. 8 d. an Ounce ; and the Bullion Marked better or worse , for more or less than the said 6 s. and 8 d. ; and from 1697 , to 1698 , for 5 s. 10 d. an Ounce . But ▪ after the 25th of March 1698 , and thenceforth all such Bullion , and also the Pieces of Eight , Mexico and Sevil , shall pass in Current Payment for above Ten Pounds by the Ounce , and not by Piece , after the Rate of Five Shillings an Ounce , and the Bullion Marked better or worse than Standard , for more or less value than the said 5 s. And whereas there is already in the Kingdom abundance of Gold and Silver , which is neither Marked nor Assayed at the Tower , it shall be Lawful to the Owner thereof to Export it , carrying it first to the Mint to be Assayed and Registred there ; but after the 25th of March 1696 , all the Bullion in the Kingdom not Marked shall be Lawfully seized as Coin of England Melted . But in case any Gold or Silver of the Quality above-mentioned , after the 25th of March 1696 , should be found Shipped in stealth to be Exported , or Imported , the same shall be confiscated , two third parts to the King , and the other third part to the Informer . And whereas some Ships Importing such Bullion , may be entred in other Custom-Houses than London ; in that Case such Bullion shall not pass in Payment , nor be expos'd to Sale at any Rate , nor Bought by any , upon pain of Forfeiting the same ; two thirds to the Kings , and one third to the Informer , till it has been Assayed in the Mint ; and in the mean time the Owner thereof is to have it Entred for his discharge in the Book of the next Custom-House , where the Ship is Entred , for fear that such Bullion should be seised as Coin of England Melted . And also the Officers of the Mint are to be strictly charged to receive no Bullion from any Body , ( that appears not to have been Imported by the Register , kept for that purpose ) except the Owner thereof , or some Body for him , should make Oath , that the same is not directly nor indirectly of the knowledge of Him or Owner , proceeding from any Coin of England Melted , and in case any Bullion at any time was proved to proceed from the Coin of England melted , the same to be Confiscated ; two thirds to the King , and one third to the Informer ; and the Melter thereof to be subject to the Laws already in force in such a Case . That no Silver Bullion Standard , from the 25th of March 1696 , to the 25th of March 1697 , be Sold or Bought for more than 6 s. 8 d. ; and from 1697 to 1698 , more than 5 s. 10 d. ; but if better or worse , proportionably to that Price . And after the 25th of March 1698 , no more than 5 s. an Ounce upon pain of Forfeiting the same , two thirds to the King , and one to the Informer . Whereas in the Two Years Melting , Contentions may probably arise about the Brass and Clipt Mony ; Fourteen Persons skill'd in the knowledge of Coin are to be chosen to be Judges of that , and also to change the old Mony for new : And during the said Two Years , viz. from the 25th of March 1696 , to the 25th of March 1698 , they shall Mark all the Brass Mony that shall fall into their Hands with a double Punchon ; and all the Crowns under the Weight of 10 dw . ; with a single Punchon , and the Mony so Marked shall not pass , but as Bullion . Those Fourteen Persons are to be disposed as follows ; One at the Tower , who shall be called , General Register-Keeker . One about the Royal-Exchange . One about White-Hall . One at Oxford . One at Southampton . One at Exeter . One at Bristol . One at Chester . One at Nottingham , One at Newcastle , One at York . One at Colchester , In Wales , One at Denbigh , and another at Caermarthen , Who shall be called Mint-Bankers , or Changers . Those of London shall send every Week the old Coin to the Tower to receive new ; and those of the Country every Month , unless it is thought fit to erect new Mints in several parts of England , as it has been done formerly in such a Case . And for the Ease of those Bankers , and of the Mint too , ( which shall not be able to Coin Mony enough to satisfy those that shall carry in their old Mony ) all the Sums under 10 l. shall be paid in new Coin , but the Sums above that , shall be paid in Bills , half upon the Bank of England , and half upon the Million Bank. Therefore all those Mint-Bankers , or Changers , shall give to the King Security of Ten Thousand Pounds each , and each of them may draw at two days Sight upon the General Register-keeper ▪ payable in the Banks , as far as the said Sum of Ten Thousand Pounds , and no more . The Banks are to be paid every Month , more or less , as the new Coin shall be made ; so that they shall not advance more at one time than 130000l . and the Interest thereof shall be paid after the Rate of Three per Cent per Annum . And in Consideration of that Advance , when the Banks shall carry their old Mony to be exchanged , they shall have the benefit of the Coinage weight for weight ; but they shall tarry Three Months to receive their Payments in new Mony , without any allowance of Interest . Lastly , It is to be considered by the Parliament , that if His Majesty by a special Love to his Subjects , will take upon him such a good Thing for the Nation ; He shall be at extraordinary great Charges for two or three Years together . Therefore in Consideration , that His Majesty shall make good the Loss of the old Coin , from 15 Penny-weight to 10 dw . for Three-pence for every Penny-weight , which will cost him more , and also Pay a great many new Officers , that shall be employed for that purpose ; besides the Sixteen-pence Half-penny that he pays for the Coinage of every Pound Weight of Silver , to which Expences the Act for Coinage , nor any other Benefit arising by this Project , can suffice . 'T is Necessary , that the Parliament should allow Fifty Thousand Pounds a Year , for Three Years only ; and a Register shall be kept at the Tower , wherein all the extraordinary Charges shall be entred , and the Parliament is to Promise to make the Loss good , in case it shall appear by the said Register , that the King is a Looser . Some Observations upon a Project , Presented on the 4th of January 1694 / 5 , to the Right Honourable the Lords of the Treasury , by L. G. 1. THose who will be at the pains to peruse my Project with any Attention , will easily perceive that I propose , 1. To Melt down all the Silver Coins of England : 2. To make new Milled Mony : 3. To have the said new Milled Mony of the same Standard as the former , viz. 11 Ounces 2 dw . Fine , and 18 dw . Allay : 4. To have the new Milled Mony of the same Weight at least , as the now Milled Mony is , viz. The Crown of 19 dw . 254833 / 1000000 parts , or 19 dw . 8 gr . and a half a little more ; and the Pound Weight , or 12 Ounces of Silver Standard to be cut in 62 Shillings , 124 Six-pences , 186 Four-penny Pieces , 372 Two-penny Pieces , and 744 One-penny Pieces , if thought fit to make such small Silver Pieces , which , in my opinion , it is better to defer , till the Nation be supplied with a reasonable quantity of new Crowns , Half-Crowns , Shillings and Six-pences : 5. That the loss of the Owners of the Mony shall be very inconsiderable : 6. That they shall bring in their Mony very willingly to be new Coined , and 7. That the Diminution of the Numerical Quantity of the old Species , will be more than supplied . I don't question in the least , but that my Project will seem at first to be impracticable , but , I hope , it will appear very possible , if carefully examined , and especially with the few Remarks here set down . 2. I see so many People who declare against the Raising of our Coin ; that , I think , it is necessary first of all to acquaint them with the Reasons I have to demand , that the new Crowns should be Current for Two Years at 6 s. and 8 d. I have laid down as an Axiom , at the beginning of this Writing ; that the Denomination of the Species of Gold or Silver , do not change their Intrinsick Value ; and that therefore the Nation is neither the richer nor poorer , by raising or lowering the Coin , I propose then to raise the Crown Pieces to 6s . 8d . for Two Years , for the following Reasons ; 1. To make the Loss that will arrise by Clipt and Brass Mony less sensible to the Owners thereof : 2. That Guineas may fall by degrees from the extravagant Price they have been raised to ; for if they should fall at once from 30 s. to 21 s. 6 d. as they must do whenever we have good Silver Mony , and its Price fixed at 5 s. an Ounce , it would be a great Loss to many Tradesmen and other People , because for this Twelve-Month past we have seen hardly any other Mony but Guineas : 3. Because People are already disposed to it ; and had it not been for an Act of Parliament , they would have certainly raised the Milled Crowns thereabout to that price , proportionably to the price of Gold : 4. I have fixed it to 6 s. 8 d. rather than to 6 s. 6 d. without any other Mystery , but because that price is devisible by equal quantities of Pence , Farthings , and accommodated to the present denominations of Crowns , Shillings , &c. and also to the Species of Gold. 3. As to the First Article of my Project , wherein , I say , there is about one third part of our Coin lost by Clipping . I know that some Ingenious Men are of another opinion , and that they pretend that there is abundance of old Mony unclipt hoarded up ; I wish it may prove so , but that is so far from being an Objection to my Project , that it makes it more easy . I own , I have supposed the thing at the worst , but a Table hereunto annexed , will make it more plain , and therein I have calculated how many Ounces of Silver we want to make good the Loss . When I Presented my Project to the Lords of the Treasury , I supposed there was but Four Millions and a half of Silver Mony in England , but upon better Information I have thought I might suppose Five . 4. I demand two Years time to melt down all the old Silver Coin of England , and to make the new , for the following Reasons , 1. Because it is difficult to have Mints enough to do it in a shorter time , 2. Supposing there should be Mints enough , yet it would be necessary to allow two Years time , for if there was but one allowed , the price of Silver , which must fall gradually , should fall too suddenly , viz. every Six Months ; and so the Inhabitants of the remotest Counties from London should hardly have time enough to be acquainted with it : 3. I grant that there is no time to be lost in this Affair , but too great a Precipitation may be liable to as great Inconvenience , as a Delay ; and after all , People must have time to carry their old Mony to the Mint , and the Mint must have time to Coin it . It will be well enough , if we are in the mean time supplied with new Coin for Sums not exceeding 10 l. and Bills upon the Banks for greater ones by the Changers , as it is in my Proposal , for this answers all our wants , 5. It is just , and more convenient , that the Mint should take the old Coin rather by Weight , than by any other way ; and it will be a greater Satisfaction for the King and the Nation , that in the Books appointed for that purpose at the Mint , or in the hands of the Changers ; there should be several Columns , whereof one should be for the Weight , and the others for the old Estimation in Pounds , Shillings and Pence . 6. It is proposed , that the old Mony be taken in Current Payments at a certain Rate , the better to carry on our Trade till we have new Mony enough . 7. I suppose the new Crown to weigh a full Ounce , though I know it does weigh only 19 dw . 8 gr . and a half , which makes an Allowance of about 3 and one third per Cent , for the Melting and the Stamp ; so that if a Pound Weight of Silver Standard , valued at Three Pound is cut , as it is usual in 62 Shillings , a Pound and eight Ounces of Silver , which will cost but 5 l. will make 103 Shillings and Four-pence in Number , though they be but of the same weight . I say , that an old Crown weighing 15 dw . is to be Current , and taken at the Mint for Five Shillings , which is a necessary Consequence from what I said at first concerning the Price of Silver , for if a new Crown weighing an Ounce is worth 6 s. 8 d. an old Crown of Silver Standard of 15 dw . must by the same reason be worth 5 s. 8. Silver is the Center of Trade , and all things in the World , either Lands , Houses , Goods , Diamonds , and other Commodities , are but its Circumference ; so that if the price of Silver is not fixed , 't is impossible to make a just Estimation of Commodities , as it is impossible to say how far the Circumference is from the Center , if the Center be not fixed . 'T is then highly necessary to fix the price of Silver in Quantity , Quality , and Estimation , either Coined or not Coined . The price of Quantity of Silver not Coined , is fixed in England by the Weight of a Pound containing 12 Ounces Troy , the Ounce of 20 dw . , and the dw . of 24 gr . The price of Quantity of Silver Coined , is fixed from a number of Pieces that the King orders to be cut from a Pound Weight of Silver , as 12 Crowns , 62 Shillings , &c. The price of Quality of Silver not Coined , is fixed by the Assay that is made to know whether it is better or worse than Standard . And of Silver Coined , by the Standard of the same , which is 11 Ounces 2 dw . Fine , 18 dw . Allay . The price of Estimation of Silver Coined , is fixed by Publick Authority , being ordered that a Crown Piece weighing 19 dw . 8 gr . ½ be esteemed Five Shillings , &c. But the price of Estimation of Silver not Coined , is not fixed in England , and I think , it is absolutely necessary to fix it . As to the Price of Quantity and Quality of Silver , I believe it would be very difficult , if not impossible , to fix it in a better way , than it is now , and besides the least Alteration in this Case would be liable to many Inconveniences , but as to the Price of Estimation of Silver not Coined , I see no reason why it should it be Arbitrary rather than the Estimation of Silver Coined , and if it be prohibited to sell a Crown ( weighing 19 dw . 8 gr . that is to say , within a small matter of an Ounce ) above Five Shillings ; I would fain know why an Ounce of Silver not Coined of the same Standard as the Crown , should be sold for Six Shillings and Six-pence ? As long as the thing continues so , there is no doubt but the Goldsmiths will melt down all the Milled Mony that falls into their hands , for the Profit is clear . But if the Price of Estimation of Silver not Coined is once fixed , and that it be prohibited to sell or buy above the Price set upon it by Law , ( they may sell it under if they please ) and that the Estimation of the Silver Coined be proportionable to it , which are inconsiderable difference for the Stamp of 3 ¼ or 3 ⅓ per Cent. as it is now , we need not fear that our Coin will be melted down ; no Body shall have the least Temptation towards it , and the Reason is very plain , for Silver in Ingot will be then as cheap and cheaper , as the Silver Coined , of 3⅓ per Cent. This is enough to shew how necessary it is to fix the Price of the Ounce of Silver , but I must remove an Objection that Clippers and others concern'd with them , are like to make in name of Merchants that Trade in Gold and Silver , viz. That if the price of Silver is lower in England than in other Countries , no body will Import Bullion , but rather will Export all the Coin they Can. This may appear specious to those who have not well considered that the price of all Commodities both of our own and Foreign Countries is always proportionable to the Intrinsick Value of Silver , and not to the Denomination of the Species of the same , and so Foreigners will then Barter their Silver with us , for our Commodities , as much as they did before , with this only difference , that the Estimation of Commodities , and the Estimation of Silver will be low , then more proportionable , more just , and more certain . It is not to be wondered why Bankers , Goldsmiths , Refiners and the like , should make their Endeavours to hinder the settling of the price of Silver Standard , every body knows that this is against their private Interest , for they are a sort of People who enrich themselves to the cost of the Nation . I humbly conceive that it is absolutely Necessary to fix the price of the Ounce of Silver ▪ Standard at Five Shillings , for there is no other way to prevent the Melting down of our Coin ; but for the Reasons contained in my first Proposal , and in these Additions , I thought , it was Necessary to raise now our Coin , viz. The Crown Piece to Six-Shillings and Eight-pence , to reduce it afterwards by degrees to Five Shillings , which must be after Two Years , viz. from the 25th of March 1696 , to the 25th of March 1698 , that the same Price shall be fixed for a Crown Piece , and an Ounce of Silver . It would be very necessary also to fix the Price of Gold , so that it may never exceed Sixteen times the Value of Silver , Weight for Weight . I own , that there is a considerable Objection against the raising and lowering of our Coin , and which it is impossible to avoid in any Country in the World , and this concerns the Leases of Estates , that are made for a long time , for in this Case the Land-lord must lose or get considerably ; However , as I demand but Two Years Time , I think , no body will grumble at it , especially if a Man considers how much he loses every Day , and the trouble he is perpetually put to , by reason of the Badness of our Coin. A COMPUTATION , by which it appeareth , that the Silver Coin of England being Rated to be Five Millions , is probably Clipt one with another of 33 ⅓ per Cent. and upon the whole , by Mr. Gervaize's Method , the King shall lose 150000 l. or 3 per Cent , whereof 75000 l. or 1 ½ per Cent. is to be deducted , ( by the difference of 2 or 3 per Cent. that the New Coin shall be more in Quantity than Weight ) . And the Owners of the Coin shall lose 650000 l. or 13 per Cent. Whereof one per Cent. is to be deducted by the Difference as above , viz. ⅓ Part of the Crowns - l. Crowns . 1000000 or 4000000 At 4 d. ½ profit to the King is 175000 l. At 1 d. ½ profit to the Owners 025000 l. Is Clipt from 19 dw . to 16 dw . reduced together to the Weight of 17 dw . 12 gr . at 3 d. 1 / 8 per dw . 54 d. 11 / 16. One Crown at 54 d. 11 / 16 Worth. Weight . Pences , Dw. Gr. 54 — 11 / 16 — 17 — 12 ⅓ Part — l. Crowns . 1000000 or 4000000 Even without profit nor loss . From 16 dw . to 14 dw . reduced to 15 dw . worth 46 d. 14 / 16 One Crown at 46 d. 14 / 16. 46 — 14 / 16 — 15 — 00 ⅔ Parts — l. Crowns . 2000000 or 8000000 At 3 d. loss to the King is 100000 l. At 9 d. loss to the Owners is 300000 l. From 14 dw . to 10 dw . reduced to 12 dw . worth 37 d. ½ Two Crowns at 37 d. ½ . 75 — 24 — 00 ⅓ Part — l. Crowns . 1000000 or 4000000 At 7 d. ½ loss to the King is 125000 l. At 22 d. ½ loss the Nation is 375000 l. From 10 dw . to 5 dw . reduced to 7 dw . 12 gr . worth 23 d. 7 / 16. One Crown at 23 d. 7 / 16. 23 — 7 / 16 — 07 — 12 Pences . 200 — 00 — 64 — 00 The Fifth Part is — — 40 — 00 — 12 — 19 And so the Crown that ought to Weigh 19 dw . 8 gr . and to be worth 60 d. is reduced to 12 dw . 19 gr . 4 mit . and is worth 40 d. which is 33 ⅓ per Cent. Loss . The King's Loss of one part . — 100000 l. Ditto of another part . — 125000 l.   225000 l. The King's Profit deducted on the other side . 75000 l. It remains of Loss to the King ▪ — 150000 l. The King's Profit upon the Benefits of 2 or 3 per Cent. for the Quantity of Pieces more than Weight , after the Rate of 1 ½ per Cent. upon the whole . — 75000 l. And so the King 's neat Loss is , or 1½ per Cent. 75000 l. The Owner's Loss of one Part — 300000 l. Ditto . — 375000 l.   675000 l. The Owner's Profit deducted . — 25000 l. Rest Loss to the Owners . — 650000 l. The Owner's Benefit of 1 per Cent. upon the quantity of Pieces . 50000 l. And so the Owner's Loss is , — or 12 per Cent. 600000 l. A Table to shew how to reduee Gradually the Price of the Ounce Troy of Silver standard to its ancient Price of Five Shillings , the same having first been raised to 6 s. 8 d. according to the proposal heretofore , with this only difference that the Crown peice of Silver ( though it weighs , but 19 dw . 8 gr . ½ ) shall be Current for 5 s. and be esteemed for an Ounce of Silver , and so the Silver shall have 3 ⅓ per Cent benefit by the Coynage . Space of 2 years to make all the Silver Coin new . Price of the Ounce of Silver . Weight of Crowns , Half-Crowns , &c. Price of Ditto Crowns , &c. From March 25. 1696 , to September 25. 1696. 6 s. 8 d. — Dw. gr . Cr. 19. 8½ ½ C. 9. 20 ¼ Sh. 3. 20 6Pc . 1. 22 3Pc . 1. 23 ¼ l. s. d. — 6 — 8 — — 3 — 4 — — 1 — 4 — — 0 — 8 — — 0 — 4 — From Septem . 25. 1696 , to March 25. 1697. 6 s. 3 d. — Dw , gr . Crown , — Half-Cro . -Shill . — 6 Pence — 3 Pence . — l. s. d. — 6 — 3 — — 3 — 1 ½ — 1 — 3 — — 0 — 7 ½ — 0 — 3 ¾ From March 25. 1697. to September 25. 1697. 5 s. 10 l. — Dw. gr . Crown , — Half-Cro . -Shill . — 6 Pence . — 3 Pence . — s. d. — 5 — 10 — 2 — 11 — 1 — 2 — — 0 — 7 — — 0 — 3 ½ From Septem . 25. 1697 , to March 25. 1698. 5 s. 5 d. — Dw. gr . Crown , — Half-Cro . -Shill . — 6 Pence . — 3 Pence . — s. d. — 5 — 5 — — 2 — 8 ½ — 1 — 1 — — 0 — 6 ½ — 0 — 3 ¼ From March 25. 1698 , and thenceforth . 5 s. — Dw. gr . Crown , — Half-Cro . -Shill . — 6 Pence . — 3 Pence . — s. d. — 5 — 0 — — 2 — 6 — — 1 — 0 — — 0 — 6 — — 0 — 3 — A Table to Reduce gradually the Price of the Ounce Troy of Gold Standard to 4 l. an Ounce . being esteemed Sixteen times the value of Silver Weight for Weight ) the same having first been raised to 5 l. 6 s. 8 d. which is the proportion of Silver to 6 s. 8 d. an Ounce , the Gold Standard Coined or not Coined esteemed a like , by reason that Gold esteemed 16 times the value of Silver Weight for Weights , is the highest Rate that ever was . Space of 2 years to reduce the Gold to the Proportion of Silver . Price of the Ounce of Gold. Weight of Guineas and half Guineas . Price of ditto Guineas , &c. From March 25. 1696 , to September 25. 1696. 5 l. 6 s. 8 d. Gui. Dw. gr . 5. 9. half Guineas — Dw. gr . 2-16-½ 1 l. 8 s. 8 d. 0 l. 14 s. 4 d. From Septem . 25. 1696 , to March 25. 1697. 5 l. 0 s. 0 d. Guineas ditto . half Guinea ditto . 1 l. 6 s. 10 d. ½ 0 — 13 — 5 ¼ From March 25. 1697. to September 25. 1697. 4 l. 13 s. 4 d. Guinea ditto . half Guinea ditto . 1 l. 5 s. 1 d. 0 — 12 — 6 ½ From Septem . 25. 1697 , to March 25. 1698. 4 l. 6 s. 8 d. Guinea ditto . half Guinea ditto . 1 l. 3 s. 3 d. ½ 0 — 11 — 7 ¾ From March 25. 1698 , and thenceforth . 4 l. 00. s. 0 d. Guinea ditto . half Guinea . ditto . 1 l. 1 s. 6 d. 0 — 10 — 9d . A New PROPOSAL to Melt down all the Old Hammer'd Mony of England , and make New Coin of the same Standard and Price , as the present Milled Mony is ; and to supply the Loss arising by Clipt Mony. 1. THAT by Act of Parliament , the Price of Silver Standard be fixed at Five Shillings an Ounce , and that the Price of Gold never exceeds above sixteen times the value of Silver , Weight for Weight . 2. that the Milled Crowns , Half-Crowns , Shillings , Six-pences , Four-Pences , Two-pences and Penny-pieces of Charles II. Iames II. William and Mary , and William , continue to be current as they are now , viz. the Crown at 5 s. and the other Pieces propor●●onably . 3. That from the first of Ianua●● 1695 , and thenceforth no Crown piec● or its value in Half-Crowns , Shilling● &c. that ought to Weigh 19 dw ▪ 8 gr . and a half , and shall weigh under 15 dw . Half-Crowns 7 dw . 12 g● ▪ Shillings 3 dw . , and Six-penny Piece● 1 dw . 12 gr . be taken in Payment , and cease from that day to be Current Mony of England . 4. That from the first of Ianuary 1695 , to the first of Iune 1696 , all the old Crown pieces that shall weigh 15 dw . or above , Half-Crowns 7 dw . 12 gr . , Shillings 3 dw . , Six-pences 1 dw . 12 gr . so that One Hundred Pounds of that Mony should weigh 300 Ounces or Twenty five Pounds , be taken in Current Payment for the Price they were made for , but after the First of Iune 1696 , no old Coin of England , except the Milled Mony of Charles II. Iames II. William and Mary , and William , be taken but as Bullion , after ●he rate of Five Shilings an Ounce . 5. That the said old Pieces or Bul●ion be taken at the Mint , or by the Changers , as by my first Proposal , and that the Owners thereof receive a new ●or old Milled Crown , or its value in Milled Half-Crowns , Shillings , &c. for every Ounce Weight of old Coin Standard . And in case the Mint or Changers should want new Coin to Exchange the old , it shall be lawful for the Mint or Changers , when any great Sum shall be brought to them to be Exchanged , to pay the Owners thereof Ten Pounds in new Milled Mony , and to give them for the rest a Bill payable to the Bearer upon the Bank of England , or the Million Bank , which shall be repaid in 3 Months time , as by the first Proposal . 6. And to supply the Loss that should happen , by reason of the difference of the Estimation of the Clipt Mony by Tale , and its Estimation by the Ounce , it shall be deliver'd Notes upon the said two Banks answering th● said Loss , to be exchanged with Bank Bills , bearing Interest of Two-pence a Day for one Year , provided that the said Notes do not exceed the Sum of 250000 l. upon each Bank : That is to say , that if a Man brings to the Mint an Hundred pound of Clipt Mony , that ought to Weigh Four Hundred Ounces , and shall Weigh but 200 or 50 Pounds , the said Man shall receive Ten pounds in new Coin , and Forty pound in Bills upon the Banks , payable to the Bearer , and for the other Fifty , that would be Loss to him , were it not provided for , he shall receive a Note for the same upon the same Banks , which shall be exchanged with Bank Bills bearing Interest of Two-pence a Day for one Year . 7. And for the Re-payment of the said Banks , it shall be provided by the Parliament a sufficient Fond to re-pay in One Years time the Sum of Five Hundred Thousand Pounds , and Thirty Thousand Pounds more for the Interest thereof after the Rate of Six per Cent. 8. To Encourage those who have Plate or Foreign Bullion , to carry it to the Mint , to be Coined , such persons are to have the Benefit of Coinage , which is 3⅓ or 3¼ per Cent. viz. Weight for Weight , Standard Silver and Gold. 9. And to prevent people from Melting the old Coin , to carry it afterwards to the Mint to receive the Advantage of 3¼ or 3⅓ per Cent. ( which Benefit is designed to help to bear the Charges of the clipt Mony. ) All Bullion that shall not be Marked at the Tower ( as it is largely expressed in my First Proposal ) shall be deemed Coin of England Melted , and for that Reason esteemed 3⅓ per Cent. worse than Standard , and for such taken accordingly at the Mint . 10. Now to supply in part the Loss that will happen to the Publick , by reason of the Clipt Mony , which will amount to Fifteen Hundred Thousand Pound or thereabouts , as it will appear by a Computation hereunto annexed , I have thought fit to propose the following New Million Adventure . 1. There will be delivered a Hundred Thousand Tickets at Ten Pound a piece , in the same way as they were delivered in the first Million Adventure . 2. Old Crown-pieces , Half-Crowns , Shillings , Six-pences , &c. though clipped , under the degree adove-mentioned , shall be taken for Tickets , provided Ten Pounds of that Clipt Mony weigh together Fifteen Ounces , ( tho' they ought to weigh Thirty Eight Ounces 14 dw . 4 gr . ) 3. Twenty Pounds of Counterfeited Mony , shall be judged Equivalent to Ten Pound of Clipt Mony , and taken for one Ticket , unless the said Counterfeited Mony should be extraordinary bad , which must be left to the Discretion of those whose who shall be appointed to deliver Tickets . 4. In Consideration of the said Million arising by an Hundred Thousand Tickets , at Ten Pound a piece , it will be provided a Fond of an Hundred and Twenty Thousand Pound a Year , which shall be divided into Prizes and Blanks as follows ;   l. l. 1 Of the Yearly Rent of 500 500 2 — of 250 500 2 — of 150 300 20 — of 100 2000 30 — of 50 1500 65 — of 20 1300 380 — of 10 3800 2000 — of 5 10000 2500 First and last drawn each 50 100     20000 l. And for the Hundred Thousand Pound remaining , they are to be employed for paying the Blank Tickets at Twenty Shillings a Year each , for sixteen Years together , as in the Million Adventure of 1694 , and for the Charges of the same . It remains only to pay the two Banks of the Five Hundred Thousand Pound advanced by them , and for that , the Author of this Proposal , has a Project ready at hand , to raise that Sum , as also the Hundred Thousand Pound for the Yearly Rent of the Million Adventure , which he has not thought fit to publish here . The Computation hereunto annexed , will shew what Charges the Nation must be at , besides this new Million Adventure . Would I deal with others , as I was dealt by in the first Million Adventure , of which I can boast I was the Inventor , Though tulit alter honores , I should say , that I am the Contriver of this , but I act by other Principles , and therefore , I own , that Major Hayens , a worthy Citizen of London , is the first who has Invented how to apply such a Lottery to the Mending of the Coin , and I add nothing to it , but that Twenty Pound of counterfeited Mony ought to be Equivalent to Ten Pound of clipt Mony , and taken for a Ticket in this Adventure . From what I have said , it follows , that the Publick shall lose nothing upon clipt Mony , and it were to be wished , that they should be no losers by Guineas ; but besides the Difficulty of the Thing , there is no Justice that the State should make good the loss of Eight Shillings and above upon every Guinea , seeing they have been advanced to that extravagant Price against the general consent of the Nation , as it is plain from an Act of Parliament passed last Sessions , to prevent Clipping . The King has got nothing by it , but on the contrary has lost very much , and therefore it is but just that those who have got by raising the Price of Gold , should now suffer by lowering of the same . The Prejudice which the King and the Nation in general have suffered by the high price of Guineas , may be well guessed at by this only Instance , viz. That whereas Six Millions were sufficient for the Charges of the War , when Guineas were at 21 s. 6 d. , Nine Millions or very little less , are now absolutely Necessary to bear the very same Charges ; Cloath , and all other Commodities having been raised in Proportion to Guineas . This Observation by the by sheweth that we lose every Year to no purpose , twice as much as it will cost us once for all to reform our Coin. However , to help the Publick as much as possible , I make bold to propose , that Guineas be lowered by degrees , according to the Table annexed to my first Project , viz. every Three Months , and so that Guineas be current from the First of Ianuary 1695 / 6 , to the First April 1696 , at 28 s. 8 d. , From the First of April to the First of Iuly , at 26 s. 10 d. ; From the First of Iuly to the First of October , at 25 s. 1 d. ; And from the First of October to the First of Ianuary 1696 / 7 , at 23 s. 3 d. ½ ; and thenceforth , that no Body presume to take them above the Price of 21 s. 6 d. This will prevent many Disputes , but let the Parliament fix the Price of Guineas , or not , they must needs fall to 21 s. 6 d. , as soon as Silver is fixed at 5 s. an Ounce . I have considered this Matter these Three Years since , and though what I propose be directly against my own private Interest ; I think , it is an absolute Necessity for the Honour and general Interest of the Nation to melt down our old Clipt Mony , and make new Coin of the same Standard , Weight and Price as the former ; and when that is done , and our Trade and Navigation secured , I question not to see England the happiest Country in the World , which is my Hearts desire . FINIS . A Computation of the whole Charge that the Nation will be at , to make the Clipt Mony good to the Owners thereof ; besides the voluntary advance of one Million in Clipt Mony towards the Mending of it , by way of an Adventure , according to the New Proposal .   Quantity of ounces of silver that ought to be in 4 Millons of Coyn.   Quantity of Oun. of Silver that by clipping &c. are left in 4 Mil. of Coin 1 Mil. or 4 Mil. of Cro. which at 19 dw . 8 gr . 1 half ought to Weigh . ounces dw . gr . 3870833-13-8 The said Crowns or , their value in half Cro. shillings , &c. though reduced by Usage to something less than 19 dw . 8 gr . half Being Milled mony , are not to be melted down and are reputed to weigh . Ounce dw . gr 3870833-13-8 One Millon , or 4. Millons of Crowns . 3870833-13-8 By Clipping , &c. are reduced one with another to 15 dw . 3000000-0-0 Two Millons , or ● . Millons of Crowns . 7741667-6-16 ▪ By ditto reduced one with another to 12 dw . 4800000-0-0 One Millon ; or 4 Mil. of Crowns , which will be taken up for Tickets on a New Mil. Adventure . 0000000-0-0 By ditto reduced one with another to 7 dw . 12 gr . will render towards the mending of the Coin. 1500000-0-0 5 Mil. or 20 Mil. of Cro. Being the whole of the Silver Coyns .   The benefit of 3 one fourth per Cent upon 3 Millons that are to be melted , weighing 9300000 Ounces . 302250-0-0 2010251-0-0 4 Mil. ought to weigh Ounces . 15483334-13-8 It remains to be made good in Bank bills . 15483334-13-8 The said 2010251 Ounces of silver at 5 s. an Ounce make sterling , — 502562l . 15s . 0 FINIS . 
A70626	----	To the Honourable the Commons of England in Parliament assembled is humbly represented to you a short view, or abstract of several letters, which I happened to look o'er, some time since, which letters were sent from John Dutton Colt Esq., late collector of His Majesty's customs of this part of Bristol, directed to Daniel Ballard his clerk, then manager of that revenue in his absence. 1700 Approx. 7 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-10 (EEBO-TCP Phase 1). A70626 Wing M27C ESTC R227736 12367944 ocm 12367944 60465 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A70626) Transcribed from: (Early English Books Online ; image set 60465) Images scanned from microfilm: (Early English books, 1641-1700 ; 900:13 or 1725:52) To the Honourable the Commons of England in Parliament assembled is humbly represented to you a short view, or abstract of several letters, which I happened to look o'er, some time since, which letters were sent from John Dutton Colt Esq., late collector of His Majesty's customs of this part of Bristol, directed to Daniel Ballard his clerk, then manager of that revenue in his absence. Colt, John Dutton. Ballard, Daniel. England and Wales. Parliament. House of Commons. 1 sheet ([1] p.) s.n., [London : 1700] Reproduction of original in Huntington Library. This item appears at reel 900:13 incorrectly identified as Wing T1424, and at reel 1725:52 as Wing M27C. 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Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Black marketeers -- Great Britain -- Early works to 1800. Coinage -- Great Britain. Broadsides -- England -- 17th century. 2006-08 TCP Assigned for keying and markup 2006-08 Apex CoVantage Keyed and coded from ProQuest page images 2006-09 John Latta Sampled and proofread 2006-09 John Latta Text and markup reviewed and edited 2007-02 pfs Batch review (QC) and XML conversion To the Honourable the Commons of England in Parliament Assembled : Is humbly Represented to You a short View , or Abstract of several Letters , which I happened to look o'er , some time since ; which Letters were sent from John Dutton Colt Esq late Collector of His Majesty's Customs of this Port of Bristol , Directed to Daniel Ballard his Clerk , then Manager of that Revenue in his Absence . WHICH Letters consist of his being Concern'd in Trade and Shipping , contrary to Act of Parliament , and the diligent Care he took in disposing of the Narrow and Clipt Money , whether for the Interest of the Government , or his own , Your Honours will be the best Judges . December the 4th , 1693. A Receipt for 10 l. towards paying a Second Expence for the Ship Betty Privateer , Received by Capt. Earl , of Daniel Ballard , upon Account of the forementioned Collector . The 7th of December , 1693. As to the Betty Privateer , you must pay my Share till she can Sayl. Another of the same Month. I am glad the Privateer is Sayled . February the 24th 91 / 4. Let me hear how things go on : I am sorry there is any Loss at the Glass-House , but that must be as well as others : I should be glad to hear you had Custom enough for your Bottles ; the Betty Privateer got well and quick . April the 10th , 1694. Go to Capt. Earl ; give him my Service , and desire to know what he hath done for the Owners towards defraying of our Great Charge . I desire to know what he hath done : I hope some good for Us , which I desire to know , and what the Privateer is to do farther . April the 14th , 1694. If the Joseph , or any Ship Arrives where Mr. Carey is concern'd in , let me know ; I mean by Mr. Carey , that any Ship he is concern'd in ; Immediately give me Notice . November 17 , 1694. If any Money should be drawn upon you to pay by Mr. Knight , or any other hand , for the Officers or Soldiers that Quarter in Bristol , pay none till you acquaint me , or that they do agree to allow for such Return 3d per Pound ; this I will have , if you pay any upon Return , for the Soldiers Use and Quarters . November the 22th , 1694. I shall send down Capias's very suddenly against all the Merchants to take them all up , and hold them to Special Bayl ; therefore Acquaint Mr. Carey , Mr. Alderman Pope , and other Friends , for 't will not be in my Power to serve them any longer . Once more I desire you to speak to Mr. Carey , Mr. Pope , and other Friends . The last of January , 1694. Mr. Alderman Pope must pay all , but deliver the inclosed ; but say nothing of it . See what he says to you about my Money ; Read Alderman Pope's Letter inclosed ; Seal it , and take his Answer and send it to me . March 10th , 1694. Bring up all the Bonds due to the King ; also those Bonds of Stancome and Wheeler ; as to that Bond of Mr. Carey's , given the last Year , leave that in the Iron Chest . March 30 , 1695. I hope Mr. Baker has paid Mr. Hall of Sturbridge for the Clay , and if not , let it be done forthwith , Mr. Gray asking me for it . I hope the Act for Glass Bottles will take place , and the Cole ; if so 't will be a great Advantage to Us , because the Glass Houses here and elsewhere that have Cole Water born , must and will lay down , since they cannot work so Cheap as us ; we shall have the Inland Trade much to our selves , therefore rest satisfied with as many Bottles as you can at present . May the 2d . 96. Remember after the fourth of May , to buy bad Silver by the Ounce , or else 3 s. or 4 s. in the Pound for broad Money the People will give ; Be sure cull out all the broad Money , and keep it till I come home to order it , not letting any body know it ; Mind what I now say to you , I mean People will give bad Silver and small Clipt for broad Money , as they do here 20 s. bad Clipt for 16 s. broad and passable Money . Another . My Service to Mr. Bayly ; you may acquaint him , if he hath any bad Silver Money , now is the time to be rid of it . October the 29th , 1696. We have made a Vote that Clipt Money and Hammer'd Silver Money shall go by Weight at 5 s. 2d . by the Ounce betwixt Man and Man , and in Taxes and at the Mint , for 5 s. 8 d. by the Ounce , as now ; therefore keep this to your self , and get what Weighty Hammer'd Money you can , which we may make the 8 d. Advantage of ; Mind this . These Letters , with many others , were deliver'd into the Hands of Esq Henly of this City ; with a Note under the hand of Jo. Elbridg his own Writing , containing a Particular of several Sums of bad and Clipt Money , paid into the King's Receipt by the forementioned Collector John Dutton Colt and others ; which Note will lead Your Honours to a farther Enquiry into the many Frauds and Concealments of this place . This I do for the Interest of the Government , and Service of my Country , as will appear , if duly and strictly Examined into , which is left to Your Honours Great Wisdom .   l. s. d. The said John Dutton Colt is Debtor 43519 19 3½ Creditor 30851 14 6¼ The Ballance 12668 4 9¼   43519 19 3½   l. s. d. Memorandum , A Privy Seal appears to Discharge 2000 l. of the abovesaid Ballance . So there remains due to the King from the said John Dutton Colt , to Ballance 10668 4 9¾ Your Honours most faithful Humble Servant G. M. Bristol Jan. 3d. 1699 / 700 Notes, typically marginal, from the original text Notes for div A70626-e10 Mark this . 
A68648	----	An aduice Touching the currancie in payment of our English gold. ; As also, a table of the seuerall worths of all pieces vncurrant through want of weight, at His Majesties exchanges at London. Calculated according to the number of graines wanting. Most necessarie for all. That the true value of the vncurrant coyne may bee knowne. 1627 Approx. 25 KB of XML-encoded text transcribed from 24 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2005-03 (EEBO-TCP Phase 1). A68648 STC 20946.9 ESTC S115892 23067648 ocm 23067648 16366 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A68648) Transcribed from: (Early English Books Online ; image set 16366) Images scanned from microfilm: (Early English books, 1475-1640 ; 975:11, 1780:5, 2102:5) An aduice Touching the currancie in payment of our English gold. ; As also, a table of the seuerall worths of all pieces vncurrant through want of weight, at His Majesties exchanges at London. Calculated according to the number of graines wanting. Most necessarie for all. That the true value of the vncurrant coyne may bee knowne. Reynolds, John, of the Mynt in the Tower. [44] p. Printed by B.A. and T.F. for Ben. Fisher, and are to bee sold at his shop at the signe of the Talbot without Aldersgate, London : [1627] Attributed to John Reynolds of the Mint by STC (2nd ed.). Date of imprint suggested by STC (2nd ed.). Signatures: A-C8, (A1, C8 blank). Imperfect: t.p. cropped at bottom with loss of date of imprint; tightly bound with slight loss of print. Reproduction of original in the Henry E. Huntington Library and Art Gallery. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Gold coins -- Great Britain -- Early works to 1800. Coinage -- Great Britain -- Early works to 1800. 2003-12 TCP Assigned for keying and markup 2003-12 Aptara Keyed and coded from ProQuest page images 2004-12 Mona Logarbo Sampled and proofread 2004-12 Mona Logarbo Text and markup reviewed and edited 2005-01 pfs Batch review (QC) and XML conversion AN ADVICE . TOVCHING The Currancie in payment of our English Gold. AS ALSO , A Table of the seuerall Worths of all Pieces vncurrant through want of weight , at his Majesties Exchanges at London . Calculated according to the Number of Graines wanting . Most Necessarie for all . That the true Value of the vncurrant Coyne may bee knowne . LONDON . Printed by B. A. and T. F. for Ben. Fisher , and are to bee sold at his Shop at the signe of the Talbot without Aldersgate . To the Reader . THere hauing beene much doubt made ( occasioning much difficultie , delay , and differences in payments of Money ) whether the vn-euen pieces of Gold , viz. XXII . Shillings pieces , &c. were Currant with such Allowances of Graines , as heretofore , before the last Proclamation . To cleere such scruples ; and declare the seuerall worths of all vncurrant Coyne exceeding the Remedies . To the end . All may know , what such lightned Pieces will truely make : whereby they may bee much eased . I haue Calculated the prises of the same , and what it will make at his Maiesties Exchanges ; for the ease and direction of All men , that haue occasion to deliuer or receiue the same . THE ADVICE . WHEREAS , By his late Majesties Proclamation made for suppressing of light Gold , amongst other things and reasons therof ( therin more largely expressed ) it is Contayned in these words . viz. AND therefore , Wee doe hereby straightly Charge and forbid , vpon pain of Contempt & incurring our High displeasure ; That no person or persons , from and after Midsomer next comming , in any Countie of our Realme , doe presume to take , receiue , or deliuer in payment , any Piece of our Gold Coyne ( and formerly by vs aduanced ) at the rates aforesaid , beeing clipped , washed , or any other way vnlawfully diminished , or lacking of his just weight therof , otherwise , then according to the Rates hereafter seuerally expressed . And with the Allowance formerly set down in our former Proclamation . That is to say : 1. In euery Piece Currant for Thirtie-three-shillings , the Remedie shall not exceed , Foure Graines and a halfe . 2. Twentie-two-shilling Pieces , shall not exceed , Three Graines . 3. Sixteene-shillings Six-pence Pieces , shall not exceed , Two Graines and a halfe . 4. Eleuen-shillings Pieces , shall not exceed , Two Graines and a halfe . 5. Fiue-shilling Six-pence Pieces , shall not exceed , T●● Graines . 6. Two shillings Nine-pence Pieces , shall not exceed , Halfe a Graine . All which Remedies shall bee allowed in euery Piece accordingly , and no deduction or abatement to bee made for the same , but to passe as if it were of full weight and just value . But if any such piece of Coyne lacking of his weight aboue the said Remedies , shall from and after Midsommer next comming , bee offered in payment by any person or persons within this our Realme ; Our will and pleasure then is , That for so many Graines more or lesse as the Piece shall bee lighter then the Remedies so as aforesaid allowed . Euery person or persons , that so offereth the same in payment , shall also , at the same time pay and allow ; after the rate of Two-pence the Graine to him that receiueth it , for euery Graine wanting aboue the Remedies respectiuely : AND euery Person or persons , vnto whom the same is offered to bee payed , with these allowances , shall accept the same in payment , as if the same were full and just weight , any thing Contayned in our former Proclamation to the contrary notwithstanding . PROVIDED alwayes , That if any such Piece of Gold so offered in payment , after the time aforesaid , shall want aboue the number of so many more Graines then are allowed for the Remedies respectiuely ▪ ( As if the Piece of Twentie and two shillings , shall want more then three Graines aboue the Remedie allowed , or the piece of Eleuen-shillings , more then two Graines aboue the Remedie . And so of all the rest respectiuely . ) Then our will and pleasure is , that in all payments betwixt partie and partie , the same shall not onely be refused without all redemption , but that euery person or persons , to whom such tender of payments bee made , shall brand the same , by striking a hole in euery of the said Pieces so offered in payment as likewise of any other Peice as shall bee found Sowdered or vnlawfully Imbased : Rendring those Peices so stricken thorough then presently after to the owners , according as was ordered by a Proclamation made by our deare Sister and late Queene ELIZABETH , in the Nine and twentieth yeere of her Raigne vpon like occasion . Giuen , &c. By this Proclamation it is cleere ; That euery Piece not wanting in weight aboue the Remedies declared in the said Proclamation , viz. Euery Piece of — Shil . Pence . Graines . XXXIII . s. Not wanting aboue - 9. Grai . XXII . s. 6 Grai . XVI . s. vj. d. 5. Grai . XI . s. 4. Grai . V. s. vj. d. 4. Grai . II. s. ix . d. 1. Grai . Is Currant , and then was and ought to bee accepted in payment with abatement of Two-pence a Graine , for euery graine exceeding the Remedie allowed . Now there is no alteration made concerning these Pieces , by the last Proclamation , but they doe & remaine in the same state and degree , ( Money payable vpon the same allowance or deduction of Graines , ) as they were before the same . The words of which last Proclamation for so much as concerns the Currancie of Coyne being , as followeth : ITEM , to the end to avoyd and put to our Coyne all Gold money currant within this our Realme , being clipped , washed , or by any other meanes vnlawfully diminished , or lacking of the iust weight thereof , otherwise then according to the rates hereafter seuerally expressed , And with the allowance of the Remedies set downe in diuers former Proclamations of Queene ELIZABETH , and of our late Father of blessed memorie . That is to say : 1. In euery Piece Currant for Thirtie Shillings , the Remedie and abatement , shall not exceed , Foure Graines and a halfe . 2. The Twentie shilling Pieces , shall not exceede , Three Graines . 3. The Fifteene-shillings Piece , shall not exceed , Two graines and a halfe . 4. The Tenne-shillings Piece , shall not exceede , Two Graines . 5. The Fiue-shillings piece , shall not exceed , One Graine . 6. The Two-shillings Six-pence piece , the Remedie and abatement shall not exceed , Halfe a Graine . All which Remedies shall be allowed in euery Piece accordingly , the same wanting no more , being to passe as if it were of full weight and just value . But if any such piece of Coyne shall lacke of the true weight thereof , aboue the Remedies before expressed . Then wee doe straightly Charge and Command , That no person or persons whatsoeuer , shall acept or offer them in payment , vpon any allowance or defatuation for want of weight whatsoeuer , but that the same be and stand denied downe , and vncurrant . And that it shall be lawfull for any person or persons whatsoeuer , when offer of payment of any the said pieces lightned as aforesaid shall be made to brand the same by striking a hole in euery of them said pieces so offered in payment , rendring the pieces so branded , then presently after to the owners thereof againe . Which said Lightned or Branded Pieces , Our pleasure is , shall bee brought or Carried to our Exchanges or Mint , there againe to bee molten and conuerted into Coyne . This last Proclamation , expresly and by plaine termes , Extends vnto , and Comprehends only such Pieces , which at the time of the said Proclamation were Currant , for , and at the rates expressed in the same , viz. At XXX . shillings , XX. shillings , XV. shillings , X. shillings , V ▪ shillings , and II. shillings , vj. pence . And therefore , for as much as all vn-euen Pieces of Iacobus , halfe Quarters , and Eights , were at the time of the said last Proclamation Currant for other values , viz. For XXXIII . shillings , XXII . shillings . XVI . shillings vj. pence , XI . shillings , V. shillings vj. pence , and II. shillings ix . pence . It is most cleere , That the same Pieces are not at all comprehended , or altered by the said last Proclamation ; but doe and are now currant and payable vpon the same allowances and deductions for want of weight , as they were before the publishing of the same . And the rather , For that there were then pieces Currant for the values mentioned in the last Proclamation whereof the same did dispose , leauing the others to bee in such degree and state as they were : As also for that , The principall intention might bee to preserue vpright his Majesties , euen Coynes ( whereof great Quantities haue bin Coyned ) being yet in good state ; without much regard being had to the other , forasmuch as no more of the said vneuen Coynes are purposed to bee Coyned . AND therefore , the Tender of such Pieces , vpon allowance and deduction for want of weight agreeable to the former Proclamation , is good and not confronted by the latter ? But ought to bee accepted of vpon all payments of bonds , bills of Exchange , and contracts , and duties , whatsoeuer and wheresoeuer ; The partie refusing such payments not onely endamaging himselfe by the delay : but incurring the paine of the former Proclamation , by refusall of such monyes , as his Maiestie makes Currant by his Proclamation . And this agreeth with the generall Opinion of Lawyers , And the most vsuall practise of all men . Odde Pieces . The XXXIII . shillings Piece waight , is 9d . waight . 16. Graines . 4. Mites . Euery xxxiij . shillings Piece wanting —   s. d. far . 10. Graines — Is worth at his Majesties Exchanges 30. 8. 1. 11. Graines — 30. 6. 2. 12. Graines — 30. 5. 0. 13. Graines — 30. 3. 1. 14. Graines — 30. 1. 2. 15. Graines — 29. 11. 3. 16. Graines — 29. 9. 0. 17. Graines — 29. 7. 2. 18. Graines — 29. 5. 3. 19. Graines — 29. 3. 0. 20. Graines — 29. 1. 2. 21. Graines — 28. 11. 3. 22. Graines — 28. 10. 1. 23. Graines — 28. 8. 2. 24. Graines — 28. 6. 3. 25. graines — 28. 5. 1. 26. graines — 28. 3. 3. 27. graines — 28. 1. 1. 28. graines — 28. 0. 2. 29. graines — 27. 10. 3. 30. graines — 27. 9. 1. 31. graines — 27. 7. 2. 32. graines — 27. 6. 0. 33. graines — 27. 4. 1. 34. graines — 27. 2. 2. 35. graines — 27. 1. 0. 36. graines — 26. 11. 1. 37. graines — 26. 9. 3. 38. graines — 26. 8. 0. 39. graines — 26. 6. 1. 40. graines — 26. 4. 3. The XXII . shillings Piece waight , is 6d . wt . 10. Gr. 16. M. Euery xxij . shillings Piece wanting —   s. d. far . 7. Graines — Is worth at his Majesties Exchanges 20. 3. 3. 8. Graines — 20. 2. 0. 9. Graines — 20. 0. 1. 10. Graines — 19. 10. 3. 11. graines — 19. 9. 0. 12. graines — 19. 7. 2. 13. graines — 19. 5. 3. 14. graines — 19. 4. 0. 15. graines — 19. 2. 1. 16. graines — 19. 0. 3. 17. graines — 18. 11. 1. 18. graines — 18. 9. 2. 19. Graines — 18. 7. 3. 20. Graines — 18. 6. 1. 21. Graines — 18. 4. 2. 22. Graines — 18. 3. 0. 23. graines — 18. 1. 2. 24. graines — 17. 11. 2. 25. graines — 17. 10. 0. 26. graines — 17. 8. 1. 27. graines — 17. 6. 3. 28. graines — 17. 5. 0. 29. graines — 17. 3. 1. 30. graines — 17. 1. 1. The XVI . shillings vi . pence Piece waight , is 4d . wt . 20. Gr. 0. Mit. Euery xvj . shillings vj. pence Piece wanting —   s. d. far . 6. Graines — Is worth at his Majesties Exchanges 15. 4. 0. 7. Graines — 15. 2. 1. 8. graines — 15. 0. 2. 9. graines — 14. 11. 0. 10. graines — 14. 9. 1. 11. graines — 14. 7. 2. 12. graines — 14. 6. 0. 13. graines — 14. 4. 1. 14. graines — 14. 2. 3. 15. graines — 14. 1. 0. 16. graines — 13. 11. 1. 17. graines — 13. 9. 3. 18. graines — 13. 8. 0. The XI . shillings Piece waight , is 3d. wt . 5. Gr. 8. Mites . Euery xj . shilings Piece wanting —   s. d. far . 5. Graines — Is worth at his Majesties Exchanges 9. 11. 1. 6. Graines — 9. 9. 3. 7. Graines — 9. 8. 0. 8. graines — 9. 6. 1. 9. graines — 9. 4. 1. 10. graines — 9. 3. 0. 11. graines — 9. 1. 2. 12. graines — 8. 11. 3. 13. graines — 8. 10. 0. 14. graines — 8. 8. 2. 15. graines — 8. 6. 3. 16. graines — 7. 5. 1. 17. Graines — 8. 3 , 2. 18. graines — 8. 1 , 3. 19. graines — 8. 0 , 1. 20. graiens — 7. 10. 2. The V. shillings vi . pence Piece waight , is 1d . wt . 14. Gr. 1 / 2. Mit. Euery V. Shillings vj. pence Piece wanting —   s. d. far . 3. Graines — Is worth at his Majesties Exchanges 4. 10. 1. 4. Graines — 4. 8. 2. 5. Graines — 4. 7. 0. 6. graines — 4. 5. 1. 7. graines — 4. 3. 3. 8. graines — 4. 2. 0. 9. graines — 4. 0. 1. 10. graines — 3. 10. 3. 11. graiens — 3. 8. 0. 12. graines — 3. 6. 2. The II. shillings ix . pence Piece waight , is 0. d. wt . 19. Gr. 7. Mit. Euery II. shillings ix . pence Piece wanting —   s. d. far . 1. Graine — Is worth at his Maiesties Exchanges 2. 5. 2. 2. graines — 2. 4. 0. 3. graines — 2. 2. 1. 4. graines — 2. 1. 3. 5. graines — 2. 0. 0. Euen-Pieces . The xxx . shillings Piece waight , is 8d . wt . 18. Graines . 15. Mites . Euery xxx . shillings Piece wanting —   s. d. far . 5. Graines — Is worth at his Maiesties Exchanges 28. 4. 3. 6. Graines — 28. 3. 0. 7. graines — 28. 1. 1. 8. graines — 28. 11. 3. 9. graines — 27. 10. 1. 10. graines — 27. 8. 2. 11. graines — 27. 6. 3. 12. graines — 27. 5. 1. 13. graines — 27. 3. 2. 14. graines — 27. 2. 0. 15. Graines — 27. 0. 1. 16. graines — 26. 10. 2. 17. graines — 26. 9 , 0. 18. graines — 26 , 7 , 1. 19. graines — 26 , 5 , 3. 20. graines — 26 , 4 , 0. 21. graines — 26 , 2 , 1. 22. graines — 26 , 0 , 3. 23. graines — 25 , 11 , 0. 24. graines — 25. 9. 2. 25. graines — 25 , 7 , 3. 26. graines — 25 , 6 , 0. 27. graines — 25 , 4 , 1. 28. graines — 25 , 2 , 2. 29. graines — 25 , 1 , 0. 30. graines — 24. 11. 1. The xx . shillings Piece waight , is 5d . wt . 20. Gr. 10. M. Euery XX. shillings Piece wanting —   s. d. far . 4. Graines — Is worth at his Maiesties Exchanges 18. 9. 1. 5. Graines — 18. 7. 2. 6. Graines — 18. 5. 3. 7. Graines — 18. 4. 1. 8. Graines — 18. 2 , 2. 9. Graines — 18. 1 , 0. 10. Graines — 17. 11 , 1. 11. graines — 17. 9. 2. 12. graines — 17. 8. 0. 13. graines — 17. 6. 1. 14. graines — 17. 4 , 3. 15. graines — 17. 3. 0. 16. Graines — 17. 1. 1. 17. Grains — 16. 11. 3. 18. Granes — 16. 9. 0. 19. Graines — 16. 7. 2. 20. Graines — 16. 5. 3. 21. Graiens — 16. 3. 0. 22. Graines — 16. 1. 2. 23. graines — 15. 11. 3. 24. graines — 15. 10. 1. 25. graines — 15. 8. 2. 26. graines — 15. 6. 3. 27. graiens — 15. 5. 1. 28. graines — 15. 3. 2. 29. graiens — 15. 2. 0. 30. graiens — 15. 0. 2. The x. shillings Piece waight , is 2d . wt . 22. Gr. 5. M. Euery X. shillings Piece wanting —   s. d. far . 3. Graines — Is worth at his Majesties Exchanges 9. 3. 0. 4. Graines — 9. 1. 1. 5. Graines — 8. 11. 2. 6. Graines — 8. 10. 0. 7. Graines — 8. 8 , 1. 8. Graines — 8. 6 , 3. 9. Graiens — 8. 5. 0. 10. Graines — 8. 3 , 1. 11. graines — 8. 1 , 3. 12. graines — 7. 11 , 0 13. graines — 7. 9 , 2. 14. graines — 7. 7. 3. 15. Graines — 7. 6. 0. 16. Graines — 7. 4. 2. 17. Graines — 7. 2. 3. 18. Graines — 7. 1. 1. 19. graines — 7. 11. 2. 20. graines — 6. 9. 3. The V. shillings Piece waight , is 1d . wt . 11. Gr. 2. Mites ▪ Euery V. Shillings Piece wanting —   s. d. far . 2. Graines — Is worth at his Maiesties Exchanges 4. 6. 0. 3. Graines — 4. 5. 2. 4. Graines — 4. 4. 0. 5. graines — 4. 2. 2. 6. graines — 4. 0. 3. 7. graines — 3. 11. 0. 8. graines — 3. 9. 2. 9. graines — 3. 7. 3. 10. graines — 3. 5. 0. 11. graines — 3. 3. 2. 12. graines — 3. 1. 3. The II. shillings vj. pence Piece waight , is 0. d. wt . 17. Gr. 1 / 2. Mit. Euery II. shillings vj pence Piece wanting —   s. d. far . 1. Graine — Is worth at his Maiest . Exchanges 2. 4. 2. 2. Graines — 2. 2. 3. 3. graines — 2. 1. 0. Note , that if any Piece exceed any number of Graines here calculated vpon it , then the Remedie and Abatement after two-pence a Graine , will make profit to the Receiuer . And likewise these Rate● will yeeld to the Rec●iuer 〈◊〉 such Pieces in payment , s●m● small Profit at his Majestie● Exchanges in LONDON . FINIS . 
A69599	----	The proposal for the raising of the silver coin of England, from 60 pence in the ounce to 75 pence, considered; vvith the consequences thereof. Bohun, Edmund, 1645-1699. 1696 Approx. 27 KB of XML-encoded text transcribed from 7 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-10 (EEBO-TCP Phase 1). A69599 Wing B3458B ESTC R23296 99834079 99834079 38559 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A69599) Transcribed from: (Early English Books Online ; image set 38559) Images scanned from microfilm: (Early English books, 1641-1700 ; 727:51 or 1755:10) The proposal for the raising of the silver coin of England, from 60 pence in the ounce to 75 pence, considered; vvith the consequences thereof. Bohun, Edmund, 1645-1699. 12 p. Printed for Richard Cumberland, at the Angel in St. Paul's Church-yard, London : MDCXCVI. [1696] By Edmund Bohun. Signatures: [pi]² B-C² , 4⁰ gathered in 2's. Reproductions of the originals in the Duke University, William R. Perkins Library Medical Center (reel 727), and the Henry E. Huntington Library and Art Gallery (reel 1755). Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. 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Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England -- Early works to 1800. 2006-06 TCP Assigned for keying and markup 2006-07 Apex CoVantage Keyed and coded from ProQuest page images 2006-09 Mona Logarbo Sampled and proofread 2006-09 Mona Logarbo Text and markup reviewed and edited 2007-02 pfs Batch review (QC) and XML conversion THE PROPOSAL For the Raising of The Silver Coin OF ENGLAND , FROM 60 Pence in the Ounce to 75 Pence , CONSIDERED ; With the Consequences thereof . LONDON : Printed for Richard Cumberland , at the Angel in St. Paul's Church-yard . MDCXCVI . The PROPOSAL for the Raising the Silver Coin of England from 60 Pence in the Ounce to 75 Pence , considered ; with the Consequences thereof . THE protence for this is , That Bullion is bona side at this time worth six Shillings and three Pence of the best of our English Mony , tho' neither Worn nor Clipp'd : Now if this is true , then the Consequence of it is , That an Ounce of Sterling Silver is made one Shilling worse than it was before by having the King's Stamp put upon it , yet this Ounce of Silver may again be reduced to Bullion as it was before for two Pence . This Assertion in the mean time may easily be confuted , by trying how much Bullion or Spanish pieces of Eight may be had for a Mill'd five Shilling-piece of full weight , for by that the tryal is to be made , and not by clipp'd or over-worn old Mony ; for the Refiner and Goldsmith will ever consider the weight and fineness of the Mony he is to take for his Plate or Bullion . I believe it is very hard for human Understanding to conceive how an ounce of Mill'd-mony of the Standard-allay should be made one Penny the worse by having the King's Stamp put upon it , except it be by depriving Men thereby of the liberty to Transport , Melt , or otherwise use it as they think fit , as they might have done before it had that Stamp ; and then , perhaps , it were better to allow Men that liberty , which would occasion the bringing more Bullion to the Mint than the raising the Denomination of the Species ever will. Men love to have in their own Hands the disposal of what is their own , and will not easily be tempted to deprive themselves of that liberty . Tho' there are many Things alledged as causes of this rise of the Bullion at this time , as the scarcity of Mony and Bullion , the over-ballance of our Trade , the Exchange running high against us abroad , &c. yet the only true Reason why an Ounce of Bullion is worth a Shilling more than 5 Shillings of our Miinted-mony , is the Clipping , Corrupting and Wear of our old Minted-mony , by which it is made of real less value above the proportion of one Shilling in the Ounce ; and it has been observed , that Plate bought at 6 Shillings and three Pence the Ounce , besides the making , have yet after all weighed as much again as the Mony that was given for it . So that it is a wonder to me the Goldsmith has not raised his Plate to ten Shillings the Ounce ; for so much it is worth when it is paid for in such clipp'd Mony , besides the making . This Method has , nevertheless , one signal Benefit and piece of Justice in it , which ought however to be taken care of if it be rejected , which is , the payment of all publick and private Debts in a sort of Mony more proportionable to the Mony lent than that of the old Standard is ; it being most certain , that all the Mony lent since the Revolution , is not of much more than half the Weight it ought to have had ; and there is no reason that besides an exorbitant Usury , freedom from Taxes at this time , &c. these Men should receive at last two Ounces of Silver for every one they lent ; for so it will be , if the Mony be kept upon the old Foot and up to the Standard , when it is paid in . Having mentioned this , I pass in the next place to consider the Effect it will have upon the Royal Revenue and the private Estates of the Subject . The Book of Rates having fixed the Sum the King is to have for all sorts of Goods Exported and Imported , he will certainly lose 25 per Cent. in all his Customs of what by Law he ought to have : And yet it will soon appear , the Merchant will not sell him any thing one Penny the cheaper , for he will raise his Goods on some pretence or other as much as the Mony is raised , well knowing that in 75 such Pence there is but one Ounce of Silver : And the same Effect will attend all his other Revenues in every Branch of it , to the utter Ruin of the Crown ; Which , as His Majesty saith in His last Speech , is not able to maintain the Civil List , as things now stand , without the Assistance of the Commons . The same Effect will follow upon all the Mannors , Rents of Assize , Quit-Rents and Fee-farm Rents , in whose Hands soever they are . When these Rents were first set , a Penny was a Penny weight of Silver ; which , as Mr. Lownds rightly asserts pag. 17. of his Essay , was three times as much as now it is ; and so it continued to the 27th of Edward III. when the Pound weight of Silver being 12 Ounces Troy weight , was raised from twenty Shillings to twenty five Shillings ; which , in the 9th of Henry V. was again raised to thirty Shillings the Pound weight . In the 1st of Henry VI. it was raised to thirty seven Shillings and six Pence ; but in the 4th of that King's Reign it was again lowred to thirty Shillings , and in the 49th Year it was again raised to thirty seven Shillings and six Pence . In the 1st of Henry VIII . it was raised to forty five Shillings by tale , which was double the proportion it bore in the Reigns of Edward I. II , and III. and so on to the 9th of Henry V. So that by this time , all the Nobility and Gentry had lost in their Mannors and Quit-Rents , the one half of their Income , and five Shillings over in the Pound Troy. In all the former raising the Mony of England , if the History of England be consulted , it will appear , That they were Times of great Trouble , when the Nation had been exhausted by Foreign or Domestick Wars ; and therefore it is probable , the same Reasons were used to persuade both Prince and People to consent to it , that are used now : But in the mean time it is wonderful that none of these Princes should consider , That as they raised the Mony , they abated their Revenues . That Rise made in the 1st of Henry VIII . seems to have been the most causless of all , that Prince being left exceeding Rich by his Father , and not having any War at home or abroad to occasion it . In the 34th Year he raised the Coin to forty eight Shillings in the Pound weight of Silver , tho' there was but 10 Ounces fine Silver and 2 Ounces base . After this time the Corruption of the Mony grew so fast , that in the 1st of Edward VI. there was 8 Ounces Alloy to 4 of fine Silver : And in the 5th Year of his Reign he put nine Ounces Allay to three of fine Silver , which raised twelve Ounces of fine Silver to 14 l. 8. s. and thereby the Mischief became so sensible that the next Year after he began to reform his Mony , and eleven Ounces one Penny weight fine , and nineteen Penny weight Alloy was Coined into three Pounds by tale ; and so it continued to the 19th of Queen Elizabeth , when the old Standard of fineness , viz. 11 Ounces 18 Penny weight fine Silver and 2 Penny weight Alloy was restored , and the Mony Coined at 60 s. to the Pound Troy weight , as it ought to be now , and hath been ever since . By which it will appear , That the Nobility and Gentry were so wearied out by the detestable debasing of the Coin in the Reigns of Henry VIII . and Edward VI. that they willingly consented to have the Mony raised to sixty Shillings the Pound Troy , tho' thereby they lost ⅔ parts of what was paid to their Ancestors , provided they might have the Mony brought nearer to its former Purity , tho' not full up to the Sterling Standard ; which was after done by Q. Eliz. and hath ever since been observed by all her Successors . Besides the value of Silver , compared with Gold and other Merchandize that is brought from abroad , there is another value belongs to it , which is to be found by considering the price of a Bushel of Wheat , or a Years Wages of a Servant or Day-labourer . Now it is most certain that Silver , by the Discovery of the West-Indies in the Reign of Henry VII . becoming much more plentiful in the times of the succeeding Princes than it had been before ; all that the Crown , and the Nobility and Gentry bought became much dearer , i. e. it cost much more Silver than it did before , and yet the Incomes of their Mannors , &c. were but one third of what had been paid to their Ancestors : But then they helped themselves a little by dividing the Church and Abby Lands among themselves , and by raising the Rents of those Lands which they had not put out of their Power ; but the Clergy could not do so too , and thereby many of the Bishopricks became exceeding Poor , that would have been Rich , if their Rents had been paid at three Penny weight to the Penny ; for so every hundred Pound the Year they now receive , would have been three hundred Pounds . These Considerations are so material , that they deserve , at this time , to be reflected upon with the utmost Attention : And altho' it is said , the Mony may be lowred to 60 Pence in the Ounce when the War is ended and Mony is become more plentiful ; yet it may be observed , when once it is raised it can never be kept down , but will soon rise again to what it was before : And if the People of England come once to pay 5 s. with 3 s. 9 d. they will never come back to the old Rent again without the hazard of a Civil War. So that if it be thought fit to raise the Mony to 75 d. in the Ounce , I humbly offer it to Consideration whether it be not reasonable , That all Quit-Rents , Fee-farm Rents , Rents of Assize , and all other Rents that are due upon Leases , should be paid in the same Mony , and at the same value they were at before ; or that at least , the time be limited how long they shall be thus paid , and no other Tax , in the mean time , be laid upon them ; this Tax being 25 per Cent. as the Owners will soon find , whatever is pretended to the contrary . The first Rises were very moderate , but 5 Shillings in a Pound weight of Silver , which is 15 Shillings of our Mony in 3 Pound , a quarter part ; but in the Reigns of Henry VIII . and his Son Edward , when Silver was become much more plentiful than ever it had been before , it was raised from 37 s. 6 d. to 3 l. which was above a third part ; 2 s. 6 d. and this would never have passed , if the Gentry and Nobility had not been sweetned , by the giving them the Abby-Lands , or selling them at easie Rates , which was almost the same thing . Since that time there has no alteration been made in the value of our Coin , tho' we have had a Domestick War that lasted 20 Years , nor could any thing but this impudent Clipping and Counterfeiting of our Mony have made it seem necessary now ; and if the Clipp'd Mony be made to go by Weight at 5 s. to the Ounce , it will put an end to the Clipping , and bring out all the Hoarded Mony too ; and so put an end to this seeming Necessity . It were better to give 6 s. an Ounce for Bullion , and to pay it back again at 5 s. the Ounce , for then the Nation loseth only 1 s : in every Ounce of Silver that is Minted ; but the raising the Mony to 75 d. in the Ounce gives away 25 l. per Cent. of all our Estates , as long as it is continued at that rate . The continuing the same Names of our Mony when the Value or Weight was alter'd , has been the Cheat that has deceived our Ancestors , and it is to be hoped that this Generation is wiser than to suffer it self to be so deluded . In the times of Confusion between the Years 1640 and 1660. the Merchants and other Monied Men began first to put their Cash into the Hands of the Goldsmiths of London to keep it for them ; and from that time the Clipping of our Mony became frequent , and as long as the Goldsmith would take it , no other Body scrupul'd it ; tho' it may be observed to have grown every Year less and less , but especially since the calling of great quantities out of their Hands for the Royal Bank of England , the East-India Company , and other such publick Fonds ; and there has special Care been taken by some Men , that all the good Mony that has been brought into the Exchequer in all this War , should never go down into the Country again till it was put into as bad a Condition as the rest ; so that tho' no particular Man can be charged , yet it is apparent who have been the Promoters of this Mischief , and for what End it has been done , and upon what Occasion . There may be two Uses made of this Consideration . 1. That it is but reasonable those Cash-keepers who have had so great a share in the Profit made by this , should also have the greatest part of the Loss left upon them . 2. That if any Mony that may hereafter be Clipp'd be left in the old Form , it will certainly be an occasion to continue both the Clipping and the Counterfeiting too , if Provision be not made to secure the Weight of it from time to time . It is said , That 3 s. 9 d. thus Mill'd , will buy as much as 5 clipp'd Shillings . Now suppose it will , I should think it but reasonable to put us into the same Estate we should have been in if the Mony had never been Clipp'd , and not to pretend to redress the Grievance by giving us Mill'd-mony that will go no further than the Clipp'd-mony will. It is intended , That a Mill'd five Shilling piece should go for 6 s. 3 d. Now in Mony of that weight and fineness ought all the Quit-Rents of the Lords of Mannors to be paid : And whilst such care is taken of the Monied-men as to repay them the Damage they have done the Mony , by furnishing the Clippers , and purchasing the Bullion Clipp'd off , it is thought convenient to abate a quarter part of our Revenue , only because the other 3 Parts will go as far as the Clipp'd Mony. It is alledged , if our Mony is so good that the Neighbour Nations will draw it away from us , and leave us but little ; but if they should , we shall certainly draw in as much as is drawn out , and there will nothing be lost but the Minting Charges , and it is hard if the Trade will not over-ballance that . But when Mony is scarce , be the Standard great or small , it will not so easily be sturred : And had our Clipp'd Mony been called in but 10 Years agon , we had now had some Millions of Mill'd-mony more than we now have . When the corrupt Mony minted by Henry VIII . and Edward VI. went with the good Mony of Edward VI , Queen Mary and Queen Elizabeth , the good Mony was hoarded up and Transported ; but when Queen Elizabeth had once refined and reminted that bad Mony , good Mony became so plentiful as the bad was before , and continued so till till the Clippers brought us into the same Estate we were then in . I have been inform'd ( how truly I know not ) that the States of Holland suffer their own Mony to be carried out and in as freely as any other Commodity , and yet for all that have ever a vast Treasure by them . And we see all the severe Laws in Spain cannot keep their Mony at home ; nor has that effect followed in any other Country : So that perhaps the leaving Men at perfect Liberty is the most effectual method of encreasing our Mony ; for then Men will bring their Plate and Bullion to the Mint , when they know it may be easily and safely reduced back to what it was before , or be Transported as it is to any part of the Earth where they can hope for Advantage : But if this is denied them , then they will keep it as it is , because in so doing they keek the liberty of disposing of it as their Occasions require . Who would carry his Dollars to the Mint , who for ought he knew might have occasion in a few Weeks to imploy them abroad , and by so doing should be deprived of the liberty to make use of what was his own ? Men pretend that Foreigners will give more for our Mony than can be made of it at home . This is not true when generally asserted ; there are times when they will draw our Mony , and there are times when we shall draw it back again , and some of theirs with it , as appeareth by our Guineas , tho' to our loss perhaps . But when our Mony becomes scarce our Neighbours will gladly exchange Commodities with us , because such a value will grow upon our Mony ( by what Name soever it is called ) that there will more be saved by our Commodities than by taking our Mony. But still this is upon a Supposition our Mony is reduced first all of it to the old Standard , both in Weight and Goodness , or Purity . The Clipping and Debasing of our Mony is , by Mr. Lownds , acknowledged to be the cause of the rise of our Guineas ; but then it is as certainly the cause of the rise of Plate and Bullion 15 d. in the Ounce ; take away this disorder and the Guineas will sink , saith he , and so will the Bullion too to its former price of 5 s. 2 d. the Ounce , as it is sold now in Holland . There is in Mony an Intrinsick and an Extrinsick value . The Intrinsick consists in its weight and purity , and this may be fixed and kept at the same Standard , abating what by time and use is worn of it if it go by tale . The Extrinsick value is never to be fixed , but depends both upon the plenty and scarcity of Mony , and of all other things that are bought with it . In the beginning of the Reign of Q. Mary the usual price of a quarter of Wheat was 6 s. 8 d. which is 10 d. a Bushel . In the 1st Year of K. James 1. it was 1 l. 6 s. 8 d. which is four times as much . So that the Extrinsick value of an Ounce of Silver sunk so much in that time , by reason of the greater plenty of it . By the 20th Year of that King's Reign the price of a quarter of Wheat rose to 1 l. 12 s. that is 4 s. the Bushel ; so that an Ounce of Silver was worth almost 4 times as much in the beginning of Q. Mary , as it was the 21st of K. James , the plenty of it being 5 fold greater then than it was before . By the Year 1663. the quarter of Wheat was estimated at 2 l. 8 s. which is 12 s. the Bushel ; so that between the 20th of K. James and the 15th of Charles II. the Silver sunk two thirds in its value . But then it is to be noted , That there are dear and cheap Years which depend upon the plenty or scarcity of the Commodity . Wheat has in my memory been sold for 10 s. the Bushel , viz. In 1648. and 1663. by reason of wet Harvists , and yet in 1647. it was but 2 s. 6 d. the Bushel ; and in 1690. Wheat was sold in my Country for 2 s. the Bushel , and the same Wheat the next Year after was sold for 5 s. the Bushel , which was occasioned by excessive Rains that laid and spoiled the Crop. So the same Corn that is sold in Kent for 6 s. the Bushel , may be bought in Herefordshire for 4 , or perhaps for 3 , by reason of the distance of the Country from a Market that can carry it off , and the price Men give for the Lands it grows on . But I think I may safely say , That a Bushel of Wheat is scarce ever 2 Years together worth less than 4 s. which in the beginning of Q. Mary's Reign was seldom worth more than 10 d. and therefore there is now more than 4 times as much Mony as there was in 1553. and consequently that it is less than a 4th part of the value it was then . So that he that had then 10 l. the Year , could live of it as well as he that hath 45 l. the Year can now ; and 50 l. the Year then , was equal to above 100 now . This is the true method of finding the Extrinsick value of Mony , for a Bushel of Wheat has in all these times been of the same use and natural value ; and I do not doubt but in the times of William the Conq. a Bushel of Wheat was not worth above 1 d. of our Mony ; and if so , an Ounce of Silver was worth 10 times as much in his Reign as it was in hers , and 48 times as much as it is now : So much has the Mony encreased since that time , and by its plenty abated the Extrinsick value . And altho' the certain Extrinsick value of an Ounce of Sterling Silver is hard to be now fixed by reason of the great abuse of our English Coin , yet without question it is not of the 4th part of that value that it was in the beginning of Q. Mary's Reign ; and it is as certain , that there is but a small difference , of 2 d. or 3 d. at most , between an Ounce of Sterling Bullion and an Ounce of Sterling Mony , be it Clipp'd or Unclipp'd . Supposing this Project of raising the Mony should succeed , that which is now but 15 s. Sterling would by the Law be called a Pound ; and if 4 s. be raised upon every such Pound , then the remainder would be but 11 s. which with the Reparitions would come but to 10 ; so that by it one half of our Estates would be taken from us , tho' the Charge were but equal to that of the last Year . That Land in my own Estate that was Rented at 1 s. per Ann. in the Reign of Edward IV. hath for many Years last past been Rented at 20 s. And this is another Effect of the Encrease of Mony in England since the Discovery of the West-Indies , which happened after the times of that Prince . We may well suppose that the Rents of those times bore a proportion to the plenty of Mony as they do now ; for where Mony is scarce there Lands will be cheap , and so on the contrary . And when the Nation grew Rich by the Peace of Spain , and the Trade that followed upon it in the Reign of James I. the Lands became of double the value they were in the beginning of Q. Eliz. only by bringing so much of the Spanish Silver and Gold into England ; for besides what we drew thence by our Trade , all the Mony that was sent from Spain to maintain the Wat with the Dutch in Flanders , came by the way of England , and as fast as it came in was sent to the Tower to be minted : So that whereas in all the long Reign of Q. Eliz. there was bus little above 4 Millions in the first 12 Years of his Reign ; 1558014 l. 9 s. 9 d. which was much more than was Coined in her time in so short a space , if the Mony fetched out of the debased Mony minted by her Father and Brother be deducted , as of right it ought to be . Yet this turned much more to the Advantage of the Merchant , Shopkeeper and Tradesman , than to that of the Crown , Church , Nobility and Landed Gentry . The Revenues of the Crown ( the Customs excepted ) were reduced to one third part of what they had anciently been ; and that too was sunk in its Exrrinsive value , as I have shewn above : So that King James I. as he made the Nation richer than any of his Predecessors had done by his peacable Reign , made himself the poorest King that ever sat on the Throne of England ; and this Poverty of the Crown was the occasion of the Domestick War that happened in the Reign of his Son. The Nobility of England that had been so over powerful in the former times , when their Revenues were paid upon the foot of a Penny-weight for a Penny , that they were able to grapple with the Crown , became so poor by the raising the Mony to 60 d. in the Ounce , or the loss of two third parts of their Mannors , that they retained only the Honours of their Ancestors , but had very little of the Power and Splendor that attended them . The Gentry too , tho' they escaped better at first because they had more of the Lands in their Hands which they raised the Rents of , which the other could not do by their Manners and Quit-Rents ; but tho' they had the same denominations of Mony , had indeed but the third part of the Silver that was at first reserved and paid to their Ancestors : The Gentry , I say , too were over-topp'd by the more wealthy Merchants and Tradesman , and endeavouring above their Ability to keep up the ways of Living that had been practised by their Ancestors ; this and the War that followed , and the immense Taxes paid since the War began , &c. have intirely Ruined many of the ancient Families , and brought the rest under such Debts , that there wants but this taking a 4th part of what is left , and the heavy Taxes that must be kept up during the War , to accomplish their Ruine too . The Church , whether we consider the Dignified Clergy or the Parish-Priests , have been as great Losers as any of the other three ; and if now their Revenues be sunk from 20 s. to 15 , and the old Rents of their Mannors , and the Customs in their Parishes stand as now they are , the Service of God in many Places will wholly fail for want of a Subsistance for the Minister ; and some of our Bishopricks , that are now but low , will find no Body that will accept of them . The Love I have for my Native Country hath forced me to lay these Considerations before my Superiors , who perhaps in the multiplicity of their other great Affairs , may not of a sudden have all those things represented by their Memories to them , which they otherwise well know , and I pretend to no more than to be their Remembrancer . If I have mistaken in any thing , I humbly submit it to the Correction of my Superiors , and pray , That at least I may not be treated for this my Charity to my Country , as have before been on all Occasions , for no other Cause that I know of . FINIS . Notes, typically marginal, from the original text Notes for div A69599-e90 It is now averr'd that Bullion in Holland is but 5 s. 2 d. the Ounce . 1 Phi. & Mary , c. 5. 1 Jam. 1. 25. 
A82486	----	An Act touching the moneys and coyns of England. England and Wales. Parliament. This text is an enriched version of the TCP digital transcription A82486 of text R211240 in the English Short Title Catalog (Thomason 669.f.14[58]). Textual changes and metadata enrichments aim at making the text more computationally tractable, easier to read, and suitable for network-based collaborative curation by amateur and professional end users from many walks of life. The text has been tokenized and linguistically annotated with MorphAdorner. The annotation includes standard spellings that support the display of a text in a standardized format that preserves archaic forms ('loveth', 'seekest'). Textual changes aim at restoring the text the author or stationer meant to publish. This text has not been fully proofread Approx. 5 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. EarlyPrint Project Evanston,IL, Notre Dame, IN, St. Louis, MO 2017 A82486 Wing E1158 Thomason 669.f.14[58] ESTC R211240 99869970 99869970 163046 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A82486) Transcribed from: (Early English Books Online ; image set 163046) Images scanned from microfilm: (Thomason Tracts ; 246:669f14[58]) An Act touching the moneys and coyns of England. England and Wales. Parliament. 1 sheet ([1] p.) Printed for Edward Husband and John Field, Printers to the Parliament of England, London : 1649. Order to print dated: Die Martis, 17 Julii, 1649. Signed: Hen: Scobell, Cleric. Parliamenti. Reproduction of the original in the British Library. eng Money -- England -- Early works to 1800. Coinage -- Great Britain -- Early works to 1800. Great Britain -- Politics and government -- 1649-1660 -- Early works to 1800. A82486 R211240 (Thomason 669.f.14[58]). civilwar no An Act touching the moneys and coyns of England. England and Wales. Parliament. 1649 659 0 0 0 0 0 0 0 A This text has no known defects that were recorded as gap elements at the time of transcription. 2007-10 TCP Assigned for keying and markup 2007-10 Apex CoVantage Keyed and coded from ProQuest page images 2007-11 Mona Logarbo Sampled and proofread 2007-11 Mona Logarbo Text and markup reviewed and edited 2008-02 pfs Batch review (QC) and XML conversion blazon or coat of arms An Act touching the Moneys and Coyns of England . VVHereas the ordering of Moneys and Coyns , and setting the same at such valuations and prizes as shall be thought convenient and necessary , is appropriate and of right belonging to the Soveraign and Supreme Authority of this Commonwealth ; And the Parliament having Resolved to change and alter the former Stamps , Arms , Pictures , with the Motto's , VVords , Stiles and Inscriptions in and about the same , and to cause new Coyns of Gold and Silver to be made of several Stamps , weights and values , but of one uniform Standard and Allay , to be currant within this State and Commonwealth of England ; ( that is to say ) One piece of Gold of the value of Twenty shillings Sterlin , to be called , The Twenty shillings piece , stamped on the one side with the Cross , and a Palm and Lawrel , with these words , The Commonwealth of England ; and on the other side with the Cross and Harp , with these words , God with us : One other piece of Gold money of Ten shillings , to be called , The Ten shillings piece ; and one other piece of Gold money of Five shillings , to be called , The Five shillings piece , with the same VVords , Inscriptions , Pictures and Arms on each side as the former : And for Silver moneys , pieces of Five shillings , and pieces of Two shillings and six pence , and pieces of Twelve pence , and pieces of Six pence , having the same VVords , Inscriptions , Pictures and Arms on each side as the former ; Also pieces of Two pence , and One peny , having the same Pictures and Arms as the former , without any VVords or Inscriptions ; and the Half peny having on the one side a Cross , and on the other side a Harp : All which several Coyns of Gold and Silver , The Parliament doth hereby Enact , Declare , publish and authorize to be amongst others heretofore used , the Moneys currant for this State and Commonwealth of England , to be used and received by all the People of this Nation , in all Receipts and payments , and in all maner of Traffiquing , Bargaining and Dealing between man and man , at the several Rates and values contained in the Schedule or Table hereunto annexed , expressing their true Values and VVeights , according to the Accompt of the Mint within the Tower of London . Pieces of Gold .   Peny weights 20. Grains 24. Mites 20. Droits 24. Perits 20. Blanks 24. s. xx 05 20 10 00 00 00 s. x 02 22 05 00 00 00 s. v 01 11 02 12 00 00 Pieces of Silver . s. v 19 08 10 08 00 00 s. d. ii vi 09 16 05 04 00 00 d. xii 03 20 18 01 10 00 d. vi 01 22 09 00 15   d. ii 00 15 09 16 05   d. i 00 07 14 20 02 12 ob . 00 03 17 10 01 06 Memorandum , Twelve Ounces makes a pound weight Troy ; Twenty peny weight makes an Ounce ; Twenty four Grains makes a peny weight ; Twenty Mites makes a Grain ; Twenty four Droits makes a Mite ; Twenty Perits makes a Droit ; Twenty four Blanks makes a Perit . Die Martis , 17 Julii , 1649. ORdered by the Parliament , That this Act be forthwith Printed and Published . Hen : Scobell , Cleric . Parliamenti . London , Printed by Edward Husband and John Field , Printers to the Parliament of England . 1649. 
A48882	----	Further considerations concerning raising the value of money wherein Mr. Lowndes's arguments for it in his late Report concerning an essay for the amendment of the silver coins, are particularly examined. Locke, John, 1632-1704. 1695 Approx. 163 KB of XML-encoded text transcribed from 65 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2003-01 (EEBO-TCP Phase 1). A48882 Wing L2745 ESTC R23043 12238691 ocm 12238691 56723 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A48882) Transcribed from: (Early English Books Online ; image set 56723) Images scanned from microfilm: (Early English books, 1641-1700 ; 606:8) Further considerations concerning raising the value of money wherein Mr. Lowndes's arguments for it in his late Report concerning an essay for the amendment of the silver coins, are particularly examined. Locke, John, 1632-1704. [16], 111, [1], 24 p. Printed for A. and J. Churchil ..., London : 1695. Advertisement: prelim. p. [13]-[16]. Errata: p. [1] following p. 111. Imperfect: the author's Short observations on a printed paper, intituled, For encouraging the coining silver money in England, and after for keeping it here (24 p. at end), is lacking in filmed copy. Reproduction of original in Huntington Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. 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Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Lowndes, William, 1652-1724. -- Some remarks on a report containing an essay for the amendment of the silver coins. Coinage -- England. 2002-06 TCP Assigned for keying and markup 2002-08 SPi Global Keyed and coded from ProQuest page images 2002-09 Judith Siefring Sampled and proofread 2002-09 Judith Siefring Text and markup reviewed and edited 2002-10 pfs Batch review (QC) and XML conversion FURTHER Considerations Concerning Raising the Value OF MONEY . WHEREIN Mr. Lowndes's Arguments for it in his late Report concerning An Essay for the Amendment of the Silver Coins , are particularly Examined . LONDON , Printed for A. and I. Churchil at the Black Swan in Pater-Noster-Row , MDCXCV . TO THE Right Honorable S r Iohn Sommers , Kt. Lord Keeper of the Great Seal of England , and one of His Majesties most Honorable Privy Council . MY LORD , THE Papers I here present your Lordship , are in Substance the same with one which I delivered to you , in Obedience to the Commands I received by your Lordship , from their Excellencies , the Lords Justices ; and with another , which I writ in Answer to some Questions your Lordship was pleased to propose to me concerning our Coin. The Approbation your Lordship was pleased to give them then , has been an Encouragement to me , to revise them now , and put them in an Order ; fitter to comply with their Desires , who will needs have me print something at this time , on this Subject : And could any thing of this Nature be received with Indifferency in this Age ; the Allowance they have had from your Lordship , whose great and clear Judgment is , with general Consent and Applause , acknowledged to be the just Measure of Right and Wrong amongst us , might make me hope that they might pass in the World without any great Dislike . However , since your Lordship thought they might be of use to clear some Difficulties , and rectifie some wrong Notions that are taken up about Money , I have ventured them into the World , desiring no Mercy to any erroneous Positions or wrong Reasonings , which shall be found in them . I shall never knowingly be of any , but Truths and my Countrey 's side ; the former I shall always gladly imbrace and own , whoever shews it me : And in these Papers , I am sure , I have no other Aim , but to do what little I can , for the Service of my Country . Your Lordship 's so evidently preferring that to all other Considerations , does , in the Eyes of all Men , sit so well upon you , that my Ambition will not be blamed ; if I in this , propose to my self so great an Example ; and in my little sphere am moved by the same Principle . I have a long time foreseen the Mischief and Ruine coming upon us by clipp'd Money , if it were not timely stopp'd : And had Concern enough for the Publick , to make me print some Thoughts touching our Coin some Years since . The Principles I there went on , I see no reason to alter : They have , if I mistake not , their Foundation in Nature , and will stand : They have their Foundation in Nature , and are clear ; and will be so , in all the Train of their Consequences throughout this whole ( as it is thought ) mysterious Business of Money , to all those , who will but be at the easie Trouble of stripping this Subject of hard , obscure and doubtful Words , wherewith Men are often mislead and mislead others . And now the Disorder is come to Extremity , and can no longer be plaid with , I wish it may find a suddain and effectual Cure ; not a Remedy in Sound and Appearance , which may flatter us on to Ruine in the Continuation of a growing Mischief , that calls for present Help . I wish too , that the Remedy may be as easie as possible ; and that the Cure of this Evil be not ordered so as to lay a great Part of the Burden unequally on those , who have had no particular Hand in it . Westminster-Hall is so great a Witness of your Lordship's unbiassed Justice , and steady Care to preserve to every one their Right ; that the World will not wonder you should not be for such a lessening our Coin , as will , without any Reason , deprive great Numbers of blameless Men of a Fifth Part of their Estates , beyond the Relief of Chancery . I hope this Age will scape so great a Blemish . I doubt not but there are many , who , for the Service of their Countrey , and for the Support of the Government , would gladly part with , not only one Fifth , but a much larger Portion of their Estates . But when it shall be taken from them , only to be bestowed on Men in their , and the common Opinion , no better deserving of their Countrey than themselves , unless growing exceedingly rich by the publick Necessities , whilst every body else finds his Fortune streightned by them , be a publick Merit , that deserves a publick and signal Reward , this Loss , of one Fifth of their Debts and Income , will sit heavy on them , who shall feel it without the Alleviation of any Profit or Credit , that will thereby accrue to the Nation , by such a lessening of our Coin. If any one ask , how I , a retired private Man , come at this time to meddle with Money and Trade : For they are inseparable ; I reply , that your Lorship , and the other great Men that put me upon it , are answerable for it : Whether what I say be to the purpose or no , that I my self am answerable for . This I can answer to all the World , that I have not said any thing here , without a full Perswasion of its Truth ; nor with any other Motive or Purpose than the clearing of this artificially perplexed , rather in it self mysterious Subject , as far as my poor Talent reaches . That which perhaps I shall not be so well able to answer , to your Lordship and my self , is the Liberty I have taken , in such an Address as this , to profess that I am , MY LORD , Your Lordships most humble and most Obedient Servant IOHN LOCKE . THE PREFACE . THough Mr. Lowndes and I differ in the Way , yet I assure my self , our End is the same ; and that we both propose to our selves the Service of our Country . He is a Man known so able in the Post he is in ; to which the business of Money peculiarly belongs : And has shewed himself so learned in the Records , and Matters of the Mint ; and so exact in Calculations and Combinations of Numbers relating to our Coin , either already in use , or designed by him , that I think I should have troubled the Publick no more on this Subject , had not he himself engaged me in it ; and brought it to that pass , that either I must be thought to renounce my own Opinion , or must publickly oppose his . Whilst his Treatise was yet a Manuscript , and before it was laid before those great Persons , to whom it was afterwards submitted , he did me the Favour to shew it to me ; and made me the Compliment , to ask me my Opinion of it . Though we had some short Discourse on the Subject , yet the multiplicity of his business , whilst I staid in Town ; and my Health , which soon after forced me out of it , allowed us not an occasion to debate any one point throughly , and bring it to an issue Before I returned to Town , his Book was in the Press ; and finished before I had the opportunity to see Mr. Lowndes again . And here he laid a new Obligation on me , not only in giving me one of them ; but testing me , when I received it from his Hands , that it was the first he had parted with to any Body . I then went it over a second time , and having more leisure to consider it , I found there were a great many Particulars in it drawn out of Ancient Records , not commonly known , wherewith he had obliged the World. These , which very pleasingly entertained me , though they prevail'd not on me to be of his Opinion every where , yet joyn'd with the great Civilities he had shewn me , left me in a disposition so little inclined to oppose any thing in it , that I should rather have chosen to acknowledge my self in Print , to be his Convert , if his Arguments had convinced me ; than to troubled the World with the Reasons , why I Dissent from him . In this Disposition my Pen rested , from medling any farther with this Subject whilst I was in Town , soon after my own Health , and the Death of a Friend , forc'd me into the Country : And the business occasion'd thereby , and my own private Affairs , took up all my time , at my first coming thither ; and had continued on to do so , had not several repeated intimations and instances from London , not without some reproaches of my backwardness , made me see , that the World concern'd me particularly in M. Lowndes's Postscript , and expected something from me on that occasion . Though possibly I was not wholly out of his mind when Mr. Lowndes writ that Invitation , yet I shall not make my self the Compliment , to think I alone am concern'd in it . The great importance of the matter made him desire every one to contribute what he could to the clearing of it , and setting it in a true light . And I must do him this Right , to think , that he prefers the publick Good to his private Opinion ; and therefore is willing his Proposals and Arguments should be with freedom examin'd to the bottom , that if there be any mistake in them , no body may be misled by his Reputation and Authority , to the prejudice of his Country . Thus I understand his Postscript , and thus I shall endeavour to comply with it . I shall to the best of my skill , examine his Arguments with all Respect to him , and Fidelity to Truth , as far as I can discover it . The frankness of his proceeding in particular with me , assures me he is so great a Lover of Truth and Right , that he will not think himself injur'd when that is defended ; and will be glad , when it is made plain , by whose Hand soever it be . This is what has made me publish these Papers , without any derogation to Mr. Lowndes , or so much as a suspition that he will take it amiss . I judge of him by my self . For I shall think my self obliged to any one , who shall shew me , or the Publick , any material mistake in any thing I have here said , whereon any part of the Question turns . Books lately Printed for , and Sold by A. and J. Churchill , at the Black-Swan in Pater-Noster-Row . A View of Universal History , from the Creation , to the Year of Christ 1695. By Francis Tallents , sometimes Fellow of Magdalen-College , Cambridge . The whole graven in 16 Copper-Plates , each 15 inches deep , and 12 broad ; bound up into Books , the Sheets lined . 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The Royal Grammer , containing a new and easie Method for the speedy attaining the Latin Tongue . FURTHER Considerations Concerning Raising the Value OF MONEY . SIlver is the Instrument and Measure of Commerce in all the Civilized and Trading parts of the World. It is the Instrument of Commerce by its intrinsick value . The intrinsick value of Silver consider'd as Money , is that estimate which common consent has placed on it , whereby it is made Equivalent to all other things , and consequently is the universal Barter or Exchange which Men give and receive for other things they would purchase or part with for a valuable consideration . : And thus as the Wife Man tells us , Money answers all things . Silver is the Measure of Commerce by its quantity , which is the Measure also of its intrinsick value . If one grain of Silver has an intrinsick value in it , two grains of Silver have double that intrinsick value , and three grains treble , and so on proportionably . This we have daily Experience of , in common buying and selling . For if one Ounce of Silver will buy , i. e. is of equal value to one Bushel of Wheat , two Ounces of Silver will buy two Bushels of the same Wheat , i. e. has double the value . Hence it is evident , that an equal quantity of Silver is always of equal value to an equal quantity of Silver . This common sense , as well as the Market , teaches us . For Silver being all of the same nature and goodness , having all the same quantities , 't is impossible but it should in the same quantity have the same value . For if a less quantity of any Commodity be allowed to be equal in value to a greater quantity of the same sort of Commodity , it must be for some good quality it has which the other wants . But Silver to Silver has no such difference . Here it will be asked , is not some Silver finer than other ? I answer , one mass of mixed Metal not discerned by the Eye to be any thing but Silver , and therefore called Silver , may have a less mixture of baser Metal in it than another , and so in common speech is said to be finer Silver . So Ducatoons having a less mixture of Copper in them than our English Coin has , are said to be finer Silver . But the truth is , the Silver that is in each is equally fine , as will appear when the baser Metal is separate from it . And 't is of this pure or fine silver I must be understood when I mention silver ; not regarding the Copper or Lead which may chance to be mix'd with it . For example : Take an Ounce of fine silver , and ¼ of an Ounce of Copper , and melt them together , one may say of the whole mass , that it is not fine silver , but it is true there is an Ounce of fine silver in it ; and though this mass weighing 1 ¼ Ounce be not of equal value to 1 ¼ Ounce of fine silver , yet the Ounce of fine silver in it is , when separate from the Copper , of equal value to any other Ounce of silver . By this Measure of Commerce , viz. the quantity of silver , Men measure the value of all other things . Thus to measure what the value of Lead is to Wheat , and of either of them to a c●●tain sort of Linnen Cloth , the quantity of Silver that each is valued at or sells for , needs only be known . For if a Yard of Cloth be sold for ½ Ounce of Silver , a Bushel of Wheat for one Ounce , and an hundred weight of Lead for two Ounces , any one presently sees and says that a Bushel of Wheat is double the value of a Yard of that Cloth , and but half the value of an hundred weight of Lead . Some are of opinion that this measure of Commerce , like all other measures , is Arbitrary , and may at pleasure be varied ; by putting more or fewer grains of Silver in pieces of a known denomination , v. g. by making a penny or a shilling lighter or heavier , in Silver , in a Country where these are known denominations of pieces of silver money . But they will be of another mind , when they consider that Silver is a measure of a nature quite different from all other . The Yard or Quart Men measure by , may rest indifferently in the Buyers and Sellers , or a third persons hands , it matters not whose it is . But it is not so in Silver . It is the thing bargain'd for , as well as the measure of the bargain ; and in Commerce passes from the buyer to the seller , as being in such a quantity equivalent to the thing sold : And so it not only measures the value of the Commodity it is apply'd to , but is given in Exchange for it , as of equal value But this it does , ( as is visible ) only by its quantity , and nothing else . For it must be remembred , that Silver is the Instrument as well as Measure of Commerce , and is given in Exchange for the things traded for : And every one desiring to get as much as he can of it for any Commodity he sells , 't is by the quantity of Silver he gets for it in Exchange , and by nothing else , that he measures the value of the Commodity he sells . The Coining of Silver , or making Money of it , is the ascertaining of its quantity by a publick mark , the better to fit it for Commerce . In Coin'd Silver or Money there are these three things , which are wanting in other Silver . 1. Pieces of exactly the same weight and fineness . 2. A stamp set on those pieces by the publick Authority of that Country . 3. A known denomination given to these pieces by the same Authority . The Stamp is a mark , and as it were a publick voucher that a piece of such a denomination is of such a weight , and such a fineness , i. e. has so much Silver in it . That precise weight and fineness , by Law appropriated to the pieces of each denomination , is called the Standard . Fine Silver is Silver without the mixture of any baser Metal . Allay is baser Metal mixed with it . The Fineness of any Metal appearing to be Silver , and so called , is the proportion of Silver is in it , compared with what there is in it of baser Metals . The Fineness of Standard Silver in England is eleven parts Silver , and one part Copper , near : Or to speak more exactly , the proportion of Silver to Copper is as an hundred and eleven to nine . Whatever piece or mass has in it of baser Metal above the proportion of 9 to 111 , is worse or courser than Standard . Whatever mass of Metal has a less proportion than 9 to 111 , of baser Metal in it , is better or finer than Standard . Since Silver is the thing sought , and would better serve for the measure of Commerce if it were unmixt , it will possibly be asked why any mixture of baser Metal is allowed in Money , and what use there is of such Allay , which serves to make the quantity of Silver less known in the several Coins of different Countries ? Perhaps it would have been better for Commerce in general , and more convenient for all their Subjects , if the Princes every where , or at least in this part of the World , would at first have agreed on the fineness of the Standard to have been just 1 / 12 Allay , in round numbers ; without those minuter Fractions which are to be found in the Allay of most of the Coin in the several distinct Dominions of this part of the World : Which broken proportion of baser Metal to Silver , in the Standard of the several Mints , seems to have been introduced by the Skill of Men imploy'd in Coining , to keep that Art ( as all Trades are call'd ) a Mystery ; rather than for any use or necessity there was of such broken numbers . But be that it as it will , the Standard in our Mint being now setled by Authority , and established by Custom , known at home and abroad , and the rules and methods of Essaying suited to it ; and all the wrought Plate as well as Coin of England being made by that measure ; it is of great concernment that it should remain unvariable . But to the question ; What need is there of any mixture of baser Metal with Silver in Money or Plate ? I answer , there is great reason for it . For , 1. Copper mixt with Silver makes it harder , and so it wears and wastes less in use than if it were fine Silver . 2. It melts easier . 3. Silver as it is drawn and melted from the Mine , being seldom perfectly fine , it would be a great charge by refining , to separate all the baser Metals from it , and reduce it to perfectly unmixt Silver . The use of Coin'd Silver or Money is , that every Man in the Country where , it is current by publick Authority , may , without the trouble of refining , essaying or weighing , be assured what quantity of Silver he gives , receives , or contracts for , under such and such denominations . If this Security goes not along with the publick Stamp , Coining is labour to no purpose , and puts no difference between coin'd Money and uncoin'd Bullion . This is so obvious , that I think no Government , where Money is Coin'd , ever overlooks it . And therefore the Laws every where , when the quantity of silver has been lessen'd in any piece carrying the publick Stamp , by Clipping , Washing , Rounding , &c. have taken off the Authority of the publick Stamp , and declar'd it not to be lawful Money . This is known to be so in England , and every one may not only refuse any Money bearing the publick Stamp , if it be clipt , or any ways rob'd of the due weight of its Silver ; but he that offers it in payment is liable to Indictment , Fine and Imprisonment . From whence we may see , that the use and end of the publick Stamp is only to be a guard and voucher of the quantity of Silver which Men contract for . And the injury done to the publick Faith , in this point , is that which in Clipping and false Coining hightens the Robbery into Treason . Men in their bargains contract not for denominations or sounds , but for the intrinsick value ; which is the quantity of Silver by publick Authority warranted to be in pieces of such denominations . And 't is by having a greater quantity of Silver , that men thrive and grow richer , and not by having a greater number of denominations ; Which when they come to have need of their Money will prove but empty sounds , if they do not carry with them the real quantity of Silver is expected . The Standard once setled by publick Authority , the quantity of Silver established under the several denominations , ( I humbly conceive , should not be altred ) till there were an absolute necessity shewn of such a change , which I think can never be . The reason why it should not be changed is this ; Because the publick Authority is Guarantee for the performance of all legal Contracts . But men are absolv'd from the performance of their legal contracts , if the quantity of Silver , under setled and legal denomination , be altred : As is evident , if borrowing 100 l. or 400 Ounces of Silver to repay the same quantity of Silver ( for that is understood by the same sum , and so the Law warrants it ) or taking a Lease of Land for years to come , at the like Rent of 100 l. they shall pay both the one and the other in Money Coin'd under the same denominations with ⅕ less Silver in it , than at the time of the bargain . The Landlord here and Creditor are each defrauded of 20 per Cent. of what they contracted for , and is their due . And I ask , How much juster it would be thus to dissolve the Contracts they had made ; than to make a Law , that from henceforth all Landlords and Creditors should be paid their past Debts and the Rents for Leases ready made , in clipt Money , twenty per Cent. lighter than it should be ? Both ways they lose twenty per Cent. of their due , and with equal Justice . The case would be the same , and legal Contracts be voided , if the Standard should be altred on the otherside , and each species of our Coin be made ⅕ heavier . For then he that had borrowed or contracted for any Sum , could not be discharged by paying the quantity he agreed for , but be liable to be forced to pay 20 per Cent. more than he bargained for , that is , more than he ought . On the other side ; Whether the Creditor be forced to receive less , or the Debtor forced to pay more than his Contract , the damage and injury is the same , whenever a Man is defrauded of his due . And whether this will not be a publick failure of Justice , thus arbitrarily to give one Mans Right and Possession to another , without any fault on the suffering Man's side , and without any the least advantage to the publick , I shall leave to be considered . Raising of Coin is but a specious word to deceive the unwary . It only gives the usual denomination of a greater quantity of Silver to a less , ( v. g. calling Four Grains of Silver a Penny to day , when Five Grains of Silver made a Penny yesterday ) but adds no worth or real value to the Silver Coin , to make amends for its want of Silver . That is impossible to be done . For it is only the quantity of the Silver in it that is , and eternally will be , the measure of its value . And to convince any one of this , I ask , whether he that is forced to receive but 320 Ounces of Silver under the denomination of 100 l. ( for 400 Ounces of Silver which he lent under the like denomination of 100 l. ) will think these 320 Ounces of Silver , however denominated , worth those 400 Ounces he lent ? If any one can be supposed so silly , he need but go to the next Market or Shop to be convinced , that Men value not Money by the denomination , but by the quantity of Silver that is in it . One may as rationally hope to lengthen a foot by dividing it into Fifteen parts , instead of Twelve ; and calling them Inches ; as to increase the value of the Silver that is in a Shilling , by dividing it into Fifteen parts instead of Twelve , and calling them Pence . This is all that is done when a Shilling is raised from Twelve to Fifteen Pence . Clipping of Money is raising it without publick Authority ; the same denomination remaining to the piece , that hath now less Silver in it , than it had before . Altering the Standard , by Coining pieces under the same denomination with less Silver in them than they formerly had , is doing the same thing by publick Authority . The only odds is , that by Clipping the loss is not forced on any one ( for no body is obliged to receive Clip'd Money ; ) By altering the Standard it is . Altering the Standard , by raising the Money , will not get to the Publick or bring to the Mint to be Coin'd one Ounce of Silver : But will defraud the King , the Church , the Universities and Hospitals , &c. of so much of their setled Revenue , as the Money is raised v. g. 20 per Cent. if the Money ( as is propos'd ) be raised ⅕ . It will weaken , if not totally destroy the publick Faith , when all that have trusted the Publick , and assisted our present necessities , upon Acts of Parliament , in the Million Lottery , Bank Act , and other Loans , shall be defrauded of 20 per Cent. of what those Acts of Parliament were security for . And to conclude , this raising our Money will defraud all private Men of 20 per Cent. in all their Debts and ●etled Revenues . Clipping by English Men is robbing the honest Man who receives clip'd Money , and transferring the Silver , i. e. the value is pared off from it into the Clippers pocket . Clipping by Foreigners is robbing England it self . And thus the Spaniards lately rob'd Portugal of a great part of its Treasure or Commodities ( which is the same thing ) by importing upon them clip'd Money of the Portugal stamp . Clipping , and clip'd Money , have besides this robbery of the Publick other great inconveniences : As the disordering of Trade , raising Foreign Exchange , and a general disturbance which every one feels thereby in his private Affairs . Clipping is so gainful , and so secret a Robbery , that penalties cannot restrain it , as we see by experience . Nothing , I humbly conceive , can put a stop to Clipping , now it is grown so universal , and Men become so skilful in it , but making it unprofitable . Nothing can make Clipping unprofitable , but making all light Money go only for its weight . This stops Clipping in a moment , brings out all the mill'd and weighty Money , deprives us not of any part of our clip'd Money for the use of Trade . And brings it orderly , and by degrees , and without force into the Mint to be recoin'd . If clip'd Money be call'd in all at once , and stop'd from passing by weight , I fear it will stop Trade , put our Affairs all at a stand , and introduce confusion . Whereas , if it be permitted to pass by its weight , till it can by degrees be Coin'd , ( the stamp securing its fineness as well then as now , and the Scales determining its weight ) it will serve for the paying of great Sums as commodiously almost as weighty Money , and the weighty Money being then brought out will serve for the Market Trade , and less Payments , and also to weigh the clip'd Money by . On the other side ; If clip'd Money be allowed to pass current by tale , till it be all recoin'd , one of these two effects will apparently follow : Either that we shall want Money for Trade , as the clip'd Money decreases by being Coin'd into weighty ; ( For very few , if any body , who get weighty Money into their hands , will part with it , whilst clip'd Money , not of half the value is current ) Or if they do , the Coiners and Clippers will pick it up , and new Coin and Clip it ; whereby clip'd Money will be increased . So that , by this way , either Money will be wanting to trade , or clip'd Money continued . If clip'd Money be stop'd all at once , there is immediately a stop of Trade . If it be permitted to pass in tale , as if it were lawful weighty Money whilst it is recoining , and till all be recoin'd , that way also there will be an end of Trade , or no end of clip'd Money . But if it be made to pass for its weight till it be all recoin'd , both these evils are avoided , and the weighty Money which we want will be brought out to boot . Money is necessary to the carrying on of Trade . For where Money fails , men cannot buy , and Trade stops . Credit will supply the defect of it to some small degree for a little while . But Credit being nothing but the expectation of Money within some limited time , Money must be had or Credit will fail . Money also is necessary to us , in a certain proportion to the plenty of it amongst our Neighbours . For if any of our Neighbours have it in a much greater abundance than we , we are many ways obnoxious to them . 1. They can maintain a greater force . 2. They can tempt away our People , by greater wages , to serve them by Land or Sea , or in any Labour . 3. They can command the Markets , and thereby break our Trade , and make us poor . 4. They can on any occasion ingross Naval and Warlike Stores , and thereby endanger us . In Countries where Domestick Mines do not supply it , nothing can bring in Silver but Tribute or Trade . Tribute is the effect of Conquest : Trade , of Skill and Industry . By Commerce Silver is brought in only by an over-ballance of Trade . An Over-ballance of Trade , is when the quantity of Commodities which we send to any Country do more than pay for those we bring from thence : For then the overplus is brought home in Bullion . Bullion is Silver whose workmanship has no value . And thus Foreign Coin hath no value here for its stamp , and our Coin is Bullion in Foreign Dominions . 'T is useless , and labour in vain , to Coin Silver imported into any Country where it is not to stay . Silver imported cannot stay in any Country in which , by an over-ballance of their whole Trade , it is not made theirs , and does not become a real increase of their Wealth . If by a general Ballance of its Trade , England yearly sends out Commodities to the value of 400.000 Ounces of Silver more than the Commodities we bring home from abroad cost us ; there is 100000 l. every year clear gain : Which will come home in Money , be a real increase of our Wealth , and will stay here . On the other side , if upon a general ballance of our whole Trade , we yearly import Commodities from other parts to the value of 100.000 l. more than our Commodities exported pay for , we every year grow 100000 l. poorer . And if we should import a Million in Bullion from Spain every year , yet it is not ours ; it is no increase to our Wealth , nor can it stay here ; but must be Exported again every grain of it , with 100.000 l. of our own Money to boot . I have heard it propos'd as a way to keep our Money here , that we should pay our Debts contracted beyond Seas , by Bills of Exchange . The Idleness of such a Proposition will appear , when the nature of Exchange is a little consider'd . Foreign Exchange is the paying of Money in one Country , to receive it in another The Exchange is High , when a Man pays for Bills of Exchange above the Par. It is Low when he pays less than the Par. The Par is a certain number of pieces of the Coin of one Country , containing in them an equal quantity of Silver to that in another number of pieces of the Coin of another Country : v. g. supposing 36 Skillings of Holland to have just as much Silver in them as 20 English Shillings . Bills of Exchange drawn from England to Holland at the rate of 36 Skillings Dutch for each pound Sterling , is according to the Par. He that pays the Money here , and receives it there , neither gets nor loses by the Exchange ; but receives just the same quantity of Silver in the one place , that he parts with in the other . But if he pays one pound Sterling to receive but 30 Skillings in Holland , he pays ⅙ more than the Par , and so pays ⅙ more Silver for the Exchange , let the Sum be what it will. The reason of High Exchange , is the buying much Commodities in any Foreign Country , beyond the value of what that Country takes of ours . This makes English Men have need of great Sums there , and this raises the Exchange or Price of Bills . For what grows more into demand , increases presently in price . Returning Money by Exchange into Foreign parts , keeps not one Farthing from going out : It only prevents the more troublesome and hazardous way of sending Money in specie forwards and backwards . Bills of Exchange more commodiously , by Scrips of Paper , even the Accounts between particular Debtors and Creditors in different Countries , as far as the Commerce between those two places is equivalent : But where the over-ballance , on either side , demands payment , there Bills of Exchange can do nothing ; But Bullion , or money in specie must be sent . For in a Country where we owe Money , and have no Debts owing to us , Bills will not find Credit ; but for a short time , till Money can be sent to reimburse those that paid them ; unless we can think Men beyond Sea will part with their Money for nothing . If the Traders of England owe their Correspondents of Holland 100.000 l. their Accounts with all the rest of the World standing equal , and remaining so , one Farthing of this 100.000 l. cannot be paid by Bills of Exchange . For example , I owe 1000 l. of it ; And to pay that , buy a Bill of N. here , drawn on Iohn de Wit of Amsterdam , to pay P. van Lore my Correspondent there . The Money is paid accordingly , and thereby I am out of Van Lores Debt ; but one Farthing of the Debt of England to Holland is not thereby paid ; for N. of whom I bought the Bill of Exchange , is now as much indebted to Iohn de Wit , as I was before to P. van Lore . Particular Debtors and Creditors are only changed by Bills of Exchange ; but the Debt owing from one Country to the other , cannot be paid without real Effects sent thither to that value , either in Commodities , or Money . Where the ballance of Trade barely pays for Commodities with Commodities , there Money must be sent , or else the Debt cannot be paid . I have spoke of Silver Coin alone , because that makes the Money of Account , and measure of Trade , all through the World. For all Contracts are , I think , every where made , and Accounts kept in Silver Coin. I am sure they are so in England , and the Neighbouring Countries . Silver therefore , and Silver alone , is the Measure of Commerce . Two Metals , as Gold and Silver , cannot be the Measure of Commerce both together , in any Country : Because the Measure of Commerce must be perpetually the same , invariable , and keeping the same proportion of value in all its parts . But so only one Metal does , or can do to it self : So Silver is to Silver , and Gold to Gold. An Ounce of Silver is always of equal value to an Ounce of Silver , and an Ounce of Gold to an Ounce of Gold ; and two Ounces of the one , or the other , of double the value to an Ounce of the same . But Gold and Silver change their value one to another : For supposing them to be in value as sixteen to one now ; perhaps the next Month they may be as fifteen and three quarters , or 15 and ⅞ to one . And one may as well make a measure , v. g. a Yard , whose parts lengthen and shrink , as a Measure of Trade of Materials , that have not always a setled unvariable value to one another . One Metal therefore alone can be the Money of Account and Contract , and the Measure of Commerce in any Country . The fittest for this use , of all other , is Silver , for many reasons , which need not here be mention'd . It is enough that the World has agreed in it , and made it their common Money ; and as the Indians rightly call it , Measure . All other Metals , Gold , as well as Lead , are but Commodities . Commodities are Moveables , valuable by Money , the common measure . Gold , though not the Money of the World , and the Measure of Commerce , nor fit to be so , yet may , and ought to be coined , to ascertain its Weight and Fineness ; And such Coin may safely have a Price as well as Stamp set upon it by publick Authority ; so the value set be under the Market price . For then such pieces Coin'd , will be a Commodity as passable as Silver Money , very little varying in their price : As Guineas which were Coin'd at the value of 20 s. but passed usually for between 21 or 22 shillings , according to the current rate ; But not having so high a value put upon them by the Law , no body could be forced to take them to their loss at 21 s. 6 d. if the price of Gold should happen at any time to be cheaper . From what has been said , I think it appears : 1. That Silver is that which mankind have agreed on to take , and give in Exchange for all other Commodities , as an Equivalent . 2. That 't is by the quantity of Silver they give or take , or contract for , that they estimate the value of other things , and satisfie for them ; and thus by its quantity Silver becomes the Measure of Commerce . 3. Hence it necessarily follows , that a greater quantity of Silver has a greater value ; a less quantity of Silver has a less value ; and an equal quantity an equal value . 4. That Money differs from uncoin'd Silver only in this , that the quantity of Silver in each piece of Money , is ascertain'd by the Stamp it bears ; which is set there to be a publick Voucher of its weight and fineness . 5. That Gold is Treasure as well as Silver , because it decays not in keeping , and never sinks much in its value . 6. That Gold is fit to be Coin'd as well as Silver , to ascertain its quantity to those who have a mind to Traffick in it ; but not fit to be joyn'd with Silver , as a Measure of Commerce . 7. That Iewels too are Treasure , because they keep without decay ; and have constantly a great value , in proportion to their Bulk : But cannot be used for Money , because their value is not measur'd by their quantity ; nor can they , as Gold and Silver , be divided , and keep their value . 8. The other Metals are not Treasure , because they decay in keeping , and because of their plenty ; which makes their value little , in a great bulk ; and so unfit for Money , Commerce , and Carriage . 9. That the only way to bring Treasure into England , is the well-ordering our Trade . 10. That the only way to bring Silver and Gold to the Mint , for the increase of our Stock of Money and Treasure , which shall stay here , is an over-ballance of our whole Trade . All other ways to increase our Money and Riches , are but Projects that will fail us . These things premised , I shall now proceed to shew wherein I differ from Mr. Lowndes , and upon what grounds I do so . Mr. Lowndes proposes , that our Money should be raised ( as it is called ) one fifth : that is , That all our present denominations of Money , as Penny , Shilling , Half-crown , Crown , &c. should each have ⅕ less Silver in it , or be answered with Coin of ⅕ less value . How he proposes to have it done I shall consider hereafter . I shall at present only examin the Reasons he gives for it . His first reason , p. 68. he gives us in these words , The value of the Silver in the Coin ought to be raised to the foot of Six Shillings three Pence in every Crown ; because the price of Standard Silver in Bullion is risen to Six Shillings five pence an Ounce . This reason seems to me to labour under several great mistakes , as 1. That Standard Silver can rise in respect of it self . 2. That Standard Bullion is now , or ever was worth , or sold to the Traders in it for 6 s. 5 d. the Ounce , of lawful Money of England . For if that matter of fact holds not to be so , that an Ounce of Sterling Bullion is worth 6 s. 5 d. of our mill'd weighty Money , this reason ceases ; And our weighty Crown pieces ought not to be raised to 6 s. 3 d ; because our light clip'd Money will not purchase an Ounce of Standard Bullion , under the rate of 6 s. 5 d. of that light Money . And let me add here , nor for that rate neither . If therefore the Author means here , that an Ounce of Standard Silver is risen to 6 s. 5 d. of our clip'd Money , I grant it him , and higher too . But then that has nothing to do with the raising our Lawful Coin , which remains unclip'd ; unless he will say too , that Standard Bullion is so risen , as to be worth , and actually to sell for 6 s. 5 d. the Ounce of our weighty mill'd Money . This I not only deny , but farther add , that it is impossible to be so . For six shillings and five pence of mill'd Money , weighs an Ounce and a Quarter near . Can it therefore be possible , that one Ounce of any Commodity , should be worth an Ounce and Quarter of the self-same Commodity , and of exactly the same goodness ? For so is Standard Silver to Standard Silver . Indeed one has a mark upon it , which the other has not : But it is a mark that makes it rather more , than less valuable : Or if the mark , by hindring its Exportation , makes it less valuable for that purpose , the Melting-pot can easily take it off . The complaint made of melting down our weighty Money , answers this reason evidently . For can it be suppos'd , that a Goldsmith will give 1 ¼ Ounce of Coin'd Silver , for One Ounce of Bullion ; when by putting it into his Melting-pot , he can for less than a Penny charge make it Bullion ? ( For 't is always to be remembred , what I think is made clear , that the value of Silver , considered as it is Money , and the measure of Commerce , is nothing but its quantity . ) And thus a mill'd Shilling , which has double the weight of Silver in it to a current Shilling , whereof half the Silver is clip'd away , has double the value . And to shew that this is so , I will undertake , that any Merchant , who has Bullion to sell , shall sell it for a great deal less number of Shillings in tale , to any one , who will contract to pay him in mill'd Money , than if he be paid in the current clip'd Money . Those who say Bullion is Risen , I desire to tell me ; What they mean by Risen ? Any Commodity , I think , is properly said to be Risen , when the same quantity will exchange for a greater quantity of another thing ; but more particularly of that thing which is the measure of Commerce in the Country . And thus Corn is said to be Risen amongst the English in Virginia , when a Bushel of it will sell , or exchange for more pounds of Tobacco ; Amongst the Indians , when it will sell for more yards of Wampompeal , which ●s their Money ; and amongst the English ●here , when it will exchange for a greater quantity of Silver , than it would before . Rising and falling of Commodities is always between several Commodities of distinct worths . But no body can say that Tobacco ( of the same goodness ) is risen in respect of it self . One Pound of the same goodness will never exchange for a Pound and a Quarter of the same goodness . And so it is in Silver : An Ounce of Silver will always be of equal value to an Ounce of Silver ; nor can it ever rise or fall in respect of it self : An Ounce of Standard Silver can never be worth 1 ¼ Ounce of Standard Silver ; nor one Ounce of uncoin'd Silver , exchange for 1 ¼ Ounce of Coin'd Silver : The stamp cannot so much debase its value . Indeed the stamp hindring its free exportation , may make the Goldsmith ( who profits by the return of Money ) give 1 / 120 , or 1 / 60 or perhaps sometimes 1 / 30 more ( that is 5 s. 2 ½ d. 5 s. 3 d. or 5 s. 4 d. the Ounce ) of Coin'd Silver for uncoin'd , when there is need of sending Silver beyond Seas ; as there always is when the ballance of Trade will not supply our wants , and pay our debts there . But much beyond this , the Goldsmith wi● never give for Bullion ; since he can make it out of Coin'd Money at a cheaper rate . 'T is said Bullion is risen to 6 s. 5 d. the Ounce , i. e. that an Ounce of uncoin'd Silver will exchange for 1 ¼ Ounce o● Coin'd Silver . If any one can believe this I will put this short Case to him . He ha● of Bullion or Standard uncoin'd Silver two round plates , each of exact size and weight of a Crown piece : He has besides of the same Bullion , a round plate of the weight and size of a Shilling , and another yet less , of the exact weight and size of ● Three-pence . The two great Plates being of equal weight , and fineness , I suppose he will allow to be of equal value , and that the two less , joyn'd to either of them make it ⅕ more worth than the other is by it self , they having all three together ⅕ more Silver in them . Let us suppose then , one of the greater , and the two less plates to have received the next moment ( by Miracle , or by the Mill , it matters not how ) the mark or stamp of our Crown , our Shilling , and our Three-pence : Can any body say , that now they have got the stamp of our Mint upon them , they are so fallen in value , or the other unstamp'd piece so Risen , that that unstamp'd piece which a moment before was worth only one of the other pieces , is now worth them all three ? Which is to say , that an Ounce of uncoin'd Silver is worth an Ounce and a Quarter of Coin'd . This is what men would persuade us , when they say , that Bul●ion is raised to 6 s. 5 d. [ of lawful Money ] the Ounce , which I say is utterly impossible . Let us consider this a little farther in an other instance . The present Mill'd Crown piece , say they , will not exchange for an Once of Bullion , without the addition of a Shilling and a Three-pence of weighty Coin added to it . Coin but that Crown piece into 6 s. and 3 d. and then they say it will buy an Ounce of Bullion , or else they give up their reason and measure of raising the Money . Do that which is allow'd to be equivalent to Coining of a present Mill'd Crown piece ●nto 6 s. 3 d. ( viz. ) call it 75 Pence , and then also it must by this Rule of raising ●ny an Ounce of Bullion . If this be so , the self-same mill'd Crown peice will and will not exchange for an Ounce of Bullion . Call ●t 60 pence , and it will not : The very next moment call it 75 pence , and it will. I am afraid no body can think change of denomination has such a power . Mr. Lowndes supports this his first reason with these words , p. 68. This reason , which I humbly conceive will appear irrefragable , is grounded upon a Truth so Apparent that it may well be compared to an Axiom , even in Mathematical reasoning ; to wit , th● Whensoever the intrinsick value of Silver in the Coin , hath been , or shall be less than the price of Silver in Bullion , the Coin hath and will be melted down . This I think , though it be allowed Mr. Lowndes for as Apparent a Truth , and as certain a Maxim as he could wish , yet serve● not at all to his purpose of lessening th● Coin. For when the Coin , is as it should be , according to the Standard ( let th● Standard be what it will ) weighty an● unclip'd , it is impossible that the value o● Coin'd Silver should be less than the valu● or price of Uncoin'd ; Because , as I hav● shewn , the value and quantity of Silve● are the same : And where the quantitie● are equal , the values are equal ; excepting only the odds that may be between Bullio● that may be freely exported , and Coin'd Silver that may not ; The odds whereo● scarce ever amounts to above 2 d. per Ounce and rarely to above a penny or an half-penny And this odds ( whatever it be ) will equally belong to his raised mill'd Money which cannot be exported , as it will to our present mill'd Money , which can not be Exported ; As I shall have occasion to shew more particularly here after . All this disorder , and a thousand others , comes from light and unlawful Money being current . For then it is no wonder that Bullion should be kept up to the value of your clip'd Money ; that is , that Bullion should not be sold by the Ounce for less than 6 s. 5 d. when that 6 s. 5 d. clip'd Money paid for it , does not Weigh above an Ounce . This instance therefore of the present price of Bullion , proves nothing but that the quantity of Silver in Money governs the value of it , and not the denomination ; as appears when clip'd Money is brought to buy Bullion . This is a fair Tryal : Silver is set against Silver , and by that is seen whether clip'd Money be of the same value with weighty of the same denomination , or whether it be not the quanquantity of Silver in it that regulates its value . I cannot but wonder that Mr. Lowndes , a Man so well skill'd in the Law , especially of the Mint , the Exchequer , and of our Money , should all along in this Argument speak of clip'd Money , as if it were the lawful Money of England ; and should propose by that ( which is in effect by the Clippers Sheers ) to regulate a new sort of Coin to be introduced into England . And if he will stand to that measure , and lessen the new Coin'd to the rate of Bullion sold in exchange for present current clip'd Money , to prevent its being melted down ; he must make it yet much lighter than he proposes , and the raising it , or to give it its due name the lessening of it ⅕ will not serve the turn : For I will be bold to say , that Bullion now in England is no where to be bought by the Ounce for 6 s. 5 d. of our present current clip'd Money . So that if his Rule be true , and nothing can save the weighty Coin from melting down , but reducing it to the weight that clip'd Money is brought to , he must lessen the Money in his new Coin much more than ⅕ ; for an Ounce of Standard Bullion will always be worth an Ounce of clip'd Money , whether that in tale amount to 6 s. 5 d. 6 s. 6 d. Ten Shillings , or any other number of Shillings or Pence of the nick-named clip'd Money . For a piece of Silver that was Coin'd for a Shilling , but has half the Silver clip'd off , in the Law and in propriety of speech is no more a Shilling , Than a piece of Wood , which was once a sealed Yard , is still a Yard when one half of it is broke off . Let us consider this Maxim a little further ; which out of the language of the Mint in plain English , I think , amounts to thus much , viz. That when an Ounce of Standard Bullion costs a greater number of Pence in tale , than an Ounce of that Bullion can be Coin'd into by the Standard of the Mint , the Coin will be melted down . I grant it , if Bullion should rise to 15 Pence the Ounce above 5 s. 2 d. as is now pretended ; which is to say , that an Ounce of Bullion cannot be bought for less than an Ounce and a quarter of the like Silver Coin'd . But that , as I have shew'd , is impossible to be : And every one would be convinced of the contrary , if we had none now but lawful Money current . But 't is no wonder if the price and value of things be confounded and uncertain , when the Measure it self is lost . For we have now no lawful Silver Money current among us : And therefore cannot talk nor judge right , by our present uncertain clip'd Money , of the value and price of things , in reference to our lawful regular Coin , adjusted and kept to the unvarying Standard of the Mint . The price of Silver in Bullion above the value of Silver in Coin , when Clipping has not defac'd our current Cash ( for then the odds is very rarely above a penny or two pence the Ounce ) is so far from being a cause of melting down our Coin , that this price given above the value of the Silver in our Coin , is given only to preserve our Coin from being melted down : For no body buys Bullion at above 5 s. 2 d. the Ounce , ( which is just the value ) for any other reason , but to avoid the crime and hazard of melting down our Coin. I think it will be agreed on all hands , that no body will melt down our Money , but for profit . Now profit can be made by melting down our Money , but only in two cases . First , When the current Pieces of the same denomination are unequal , and of different Weights ; some heavier , some lighter : For then the Traders in Money , cull out the heavier , and melt them down with profit . This is the ordinary fault of Coining by the Hammer ; wherein it usually sufficed , That a Bar of Silver was cut into as many Half-crowns , or Shillings , as answer'd its due weight ; without being very exact in making each particular piece of its due weight ; whereby some pieces came to be heavier , and some lighter , than by the Standard they should ; and then the heavier pieces were cull'd out , and there was profit to be made ( as one easily perceives ) in melting them down . But this cause of melting down our Money is easily prevented , by the exacter way of Coining by the Mill , in which each single piece is brought to its just weight . This inequality of pieces of the same denomination , is to be found in our Money , more than ever , since Clipping has been in fashion ; and therefore 't is no wonder , that in this irregular State of our Money , one complaint is , that the heavy Money is melted down . But this also the making clip'd Money go at present for its Weight , ( which is a suddain reducing it to the Standard ) and then , by degrees , recoining it into mill'd Money ( which is the ultimate and more compleat reducing it to the Standard ) perfectly cures . The other case wherein our Money comes to be melted down , is a losing Trade , or which is the same thing in other words , an over-great Consumption of Foreign Commodities . Whenever the over-ballance of Foreign Trade makes it difficult for our Merchants to get Bills of Exchange , the Exchange presently rises , and the Returns of Money raise them in proportion to the want of money English men have in any parts beyond Seas . They who thus furnish them with Bills , not being able to satisfie their Correspondents on whom those Bills are drawn , with the product of our Commodities there , must send Silver from hence to reimburse them , and repay the money they have drawn out of their hands . Whilst Bullion may be had for a small price more than the weight of our current Cash , these Exchangers generally choose rather to buy Bullion , than run the risque of melting down our Coin , which is Criminal by the Law. And thus the matter for the most part went , whilst mill'd and clipt Money passed promiscuously in payment : For so long a clipt Half-crown was as good here as a mill'd one , since one passed , and could be had as freely as the other . But as soon as there began to be a distinction between clipt and unclipt Money , and weighty Money could no longer be had for the light , Bullion ( as was natural ) rose ; And it would fall again to morrow to the price it was at before , if there were none but weighty Money to pay for it . In short , whenever the whole of our Foreign Trade and Consumption exceeds our Exportation of Commodities , our Money must go to pay our Debts so contracted , whether melted , or not melted down . If the Law makes the Exportation of our Coin Penal , it will be melted down ; if it leaves the Exportation of our Coin free , as in Holland , it will be carried out in specie . One way or other go it must , as we see in Spain ; but whether melted down , or unmelted down , it matters little : Our Coin and Treasure will be both ways equally diminished , and can be restor'd only by an over-ballance of our whole Exportation , to our whole Importation of consumable Commodities . Laws made against Exportation of Money or Bullion , will be all in vain . Restraint , or Liberty in that matter , makes no Country Rich or Poor : As we see in Holland ; which had plenty of Money under the free liberty of its Exportation ; and Spain , in great want of Money under the severest penalties against carrying of it out . But the Coining , or not Coining our Money , on the same foot it was before , or in bigger or less pieces , and under whatsoever denominations you please , contributes nothing to , or against its melting down or Exportation , so our Money be all kept each species in its full weight of Silver , according to the Standard : For if some be heavier , and some lighter allow'd to be current , so , under the same denomination the heavier will be melted down , where the temptation of profit is considerable , which in well regulated Coin kept to the Standard , cannot be . But this melting down carries not away one Grain of our Treasure out of England . The coming and going of that depends wholly upon the Ballance of our Trade ; and therefore it is a wrong Conclusion which we find , p. 71. That continuing either old or new Coins on the present foot , will be nothing else but furnishing a Species to melt down at an extravagant profit , and will encourage a violent Exportation of our Silver for sake of the gain only , till we shall have little or none left . For example ; Let us suppose all our light Money new Coin'd , upon the foot that this Gentleman would have it , and all our old mill'd Crowns going for 75 pence , as he proposes , and the rest of the old mill'd Money proportionably , I desire it to be shewed how this would hinder the Exportation of one Ounce of Silver , whilst our Affairs are in the present posture . Again , on the other side , supposing all our Money were now mill'd Coin upon the present foot , and our Ballance of Trade changing our Exportation of Commodities were a Million more than our Importation , and like to continue so yearly , whereof one was to Holland , and the other to Flanders , there being an equal Ballance between England , and all other parts of the World we Trade to , I ask , what possible gain could any English Man make , by melting down and carrying out our Money to Holland and Flanders , when a Million was to come thence hither , and English Men had more there already than they knew how to use there , and could not get home without paying dear there for Bills of Exchange ? If that were the case of our Trade , the Exchange would presently fall here , and rise there beyond the Par of their Money to ours , i. e. An English Merchant must give in Holland more Silver for the Bills he bought there , than he should receive upon those Bills here , if the two Sums were weigh'd one against the other , or run the risque of bringing it home in specie : And what then could any English man get by Exporting of our Money or Silver thither ? These are the only two Cases , wherein our Coin can be melted down with profit ; and I challenge any one living to shew me any other . The one of them is removed only by a regular just Coin kept equal to the Standard ; be that what it will , it matters not , as to the point of melting down of the Money . The other is to be removed only by the Ballance of our Trade kept from running us behind-hand , and contracting Debts in Foreign Countries by an over-consumption of their Commodities . To those who say that the Exportation of our Money , whether melted down , or not melted down , depends wholly upon our Consumption of Foreign Commodities , and not at all upon the Sizes of the several Species of our Money , which will be equally Exported , or not Exported , whether Coin'd upon the old , or the proposed new Foot : Mr. Lowndes replies , p. 72. First , That the necessity of Foreign expence and Exportation to answer the Ballance of Trade , may be diminished , but cannot in any sense be augmented by raising the Value of our Money . I beg his pardon , if I cannot assent to this . Because the necessity of our Exportation of Money depending wholly upon the Debts which we contract in Foreign Parts , beyond what our Commodities Exported can pay ; the Coining our Money in bigger or less pieces under the same or different denominations , or on the present or proposed Foot , in itself neither increasing those Debts , nor the Expences that make them , can neither augment nor diminish the Exportation of our Money . 2. He replies P. 72. That Melters of the Coin will have less profit by Fourteen pence half-penny in the Crown when the Money is Coined upon the new Foot. To this I take liberty to say , that there will not be a farthing more profit in melting down the Money , if it were all new milled Money upon the present Foot , than if it were all new Coin'd , as is proposed ⅕ lighter . For whence should the profit arise more in the one , than the other ? But Mr. Lowndes goes upon this supposition ; That Standard Bullion is now worth six Shillings and five Pence an Ounce , of mill'd Money , and would continue to sell for six Shillings five Pence the Ounce , if our Money were all weighty mill'd Money : Both which I take to be mistakes , and think I have proved them to be so . 3. He says , 'T is hoped that the Exchange to Holland may be kept at a stand , or at least from falling much lower . I hope so too . But how that concerns this Argument , or the Coining of the Money upon a new Foot , I do not see . 4. He says , P. 73. There is a great difference with regard to the service and disservice of the Publick , between carrying out Bullion or Coin , for necessary uses , or for prohibited Commodities . The gain to the Exporters , which is that which makes them melt it down and Export it , is the same in both Cases . And the necessity of Exporting it is the same , For 't is to pay Debts , which there is an equal necessity of paying , when once contracted , though for useful things . They are the Goldsmiths and Dealers in Silver that usually Export what Silver is sent beyond Sea , to pay the Debts they have contracted by their Bills of Exchange . But those Dealers in Exchange seldom know , or consider , how they to whom they give their Bills , have or will employ the Money they receive upon those Bills . Prohibited Commodities , 't is true , should be kept out , and useless ones Impoverish us by being brought in ; but that is the fault of our Importation , and there the mischief should be cured by Laws , and our way of Living . For the Exportation of our Treasure is not the cause of their Importation , but the consequence . Vanity and Luxury spends them , that gives them vent here , that vent causes their Importation , and when our Merchants have brought them , if our Commodities will not be enough , our Money must go to pay for them . But what this Paragraph has in it against continuing our Coin upon the present Foot , or for making our Coin lighter , I confess here again , I do not see . 'T is true what Mr. Lowndes observes here , the Importation of Gold , of the going of Guineas at 30 s. has been a great prejudice and loss to the Kingdom . But that has been wholly owing to our clip'd Money , and not at all to our Money being Coin'd at five Shillings two Pence the Ounce ; nor is the Coining our Money lighter , the cure of it . The only remedy for that mischief , as well as a great many others , is the putting an end to the passing of clip'd Money by tale , as if it were lawful Coin. 5. His fifth Head P. 74. is to answer those , who hold , that by the lessening our Money one fifth , all People who are to receive Money upon Contracts already made , will be defrauded of 20 Per. Cent. of their due : And thus all men will lose one fifth of their settled Revenues , and all men that have lent Money ⅕ of their Principal and Use. To remove this Objection , Mr. Lowndes says , that Silver in England is grown scarce , and consequently dearer , and so is of higher price . Let us grant for the present , it is of higher price ( which how he makes out I shall examine by and by . ) This , if it were so , ought not to annul any mans Bargain , nor make him receive less in quantity than he lent . He was to receive again the same Sum , and the Publick Authority was Guarantee that the same Sum should have the same quantity of Silver under the same denomination : And the reason is plain , why in justice he ought to have the same quantity of Silver again , notwithstanding any pretended rise of its value . For if Silver had grown more plentiful , and by consequence by our Authors rule cheaper , his Debtor would not have been compell'd by the Publick Authority to have paid him in consideration of its cheapness , a greater quantity of Silver than they Contracted for . Cacao Nuts were the Money of a part of America , when we first came thither . Suppose then you had lent me last Year 300 , or fifteen-score Cacao Nuts , to be repaid this year : Would you be satisfied and think your self paid your due , if I should tell you , Cacao Nuts were scarce this year , and that fourscore were of as much value this year as an hundred the last ; and that therefore you were well and fully paid if I restored to you only 1200 for the 1500 I borrowed ? Would you not think your self defrauded of ⅕ of your Right , by such a payment ? nor would it make any amends for this to justice , or reparation to you , that the Publick had ( after your contract , which was made for fifteen Score ) altered the denomination of Score , and applyed it to sixteen instead of twenty . Examine it , and you will find this just the Case , and the loss proportionable in them both : That is , a real loss of 20 Per. Cent. And therefore a man has Right done him , if he receive ⅕ less Silver than his Contract . As to Mr. Lowndes's proofs , that Silver is now ⅕ more value than it was , I fear none of them will reach Mr. Lowndes's point . He says P. 77 By daily experience , nineteen penny weight , and three tenths of a penny weight of Sterling Silver , which is just the weight of a Crown piece , will purchase more Coin'd Money than five unclip'd Shillings . I wish he had told us where this daily experience , he speaks of , is to be found : For I dare say no body hath seen a Sum of unclip'd Shillings paid for Bullion any where this twelve months , to go no further back . In the next place , I wish he had told us how much more than five lawful mill'd Shillings , Bullion of the weight of a Crown piece will purchase . If he had said it would purchase six Shillings and three pence weighty Money , he had proved the matter in question . And whoever has the weight of a Crown in Silver paid him in Mr. Lowndes's new Coin , instead of six Shillings and three Pence of our present Money , has no injury done him , if it will certainly purchase him six Shillings and three Pence all unclip'd of our present Money . But every one at first sight perceives this to be impossible , as I have already proved it . And I have in this the concurrence of Mr. Lowndes's new Scheme , to prove it to be so . For P. 62 he proposes that his Silver Vnite having the weight and fineness of a present unclip'd Crown piece , should go for 75 pence ; and that the present Shilling should go for 15 pence ; by which establishment there will be 75 pence in his Vnite , and 93 pence three farthings in six Shillings three pence , weighty Money of the present Coin ; which is an undeniable confession , that it is as impossible for his Silver Vnite , ( having no more Silver in it than a present unclip'd Crown , to be worth , and so to purchase six unclip'd Shillings and three pence of our present Money , as it is for 75 pence to be worth 93 of the same pence , or 75 to be equal to 93. If he means by more , that his Sterling Silver of the weight of a Crown piece will purchase a penny , or two pence more than five unclip'd Shillings , which is the most , and which is but accidental too ; what is this rise of its value to 15 pence , and what amends will one 1 / 60 a little more or less , rise in value , make for ⅕ diminished in weight and lost in the quantity ? which is all one as to say , that a penny , or thereabouts , shall make amends for fifteen pence taken away . Another way to recommend his New Coin to those who shall receive it instead of the present weightier Coin , he tells him , p. 77. it will pay as much debt and purchase as much Commodities as our present Money , which is ⅕ heavier . What he says of debts is true ; but yet I would have it well considered by our English Gentlemen , that though Creditors will lose ⅕ of their Principal and Use , and Landlords will lose ⅕ of their Income , yet the Debtors and Tenants will not get it . It will be asked , Who then will get it ? These , I say , and those only who have great Sums of weighty Money ( whereof one fees not a piece now in Payments ) hoarded up by them , will get by it . To those by the proposed change of our Money will be an increase of ⅕ added to their Riches , paid out of the Pockets of the rest of the Nation . For what these men received for Four Shillings , they will pay again for Five . This weighty Money hoarded up , Mr. Lowndes , p. 105 computes at One Million and Six hundred thousand Pounds ; so that by raising our Money one fifth , there will Three hundred and twenty thousand Pounds be given to those who have hoarded up our weighty Money ; which hoarding up of Money is thought by many to have no other merit in it than the prejudicing our Trade and publick Affairs , and increasing our necessities , by keeping so great a part of our Money from coming abroad , at a time when there was so great need of it . If the Sum of unclip'd Money in the Nation , be as some suppose , much greater ; then there will by this contrivance of the raising our Coin , be given to these rich Hoarders , much above the aforesaid Sum of Three hundred and twenty thousand Pounds of our present Money . No body else , but these Hoarders , can get a Farthing by this proposed change of our Coin ; unless men in debt have Plate by them , which they will Coin to pay their Debts . Those too , I must confess , will get one fifth by all the Plate of their own , which they shall Coin and pay Debts with , valuing their Plate at Bullion : But if they shall consider the fashion of their Plate , what that cost when they bought it , and the fashion that new Plate will cost them , if they intend ever to have Plate again , they will find this one fifth seeming present profit in Coining their Plate to pay their Debts , amount to little or nothing at all . No body then but the Hoarders will get by this Twenty per Cent. And I challenge any one to shew how any body else ( but that little in the case of Plate Coin'd to pay Debts ) shall get a farthing by it . It seems to promise fairest to the Debtors ; but to them too it will amount to nothing . For he that takes up Money to pay his Debts , will receive this new Money , and pay it again at the same rate he received it , just as he does now our present Coin , without any profit at all . And though Commodities ( as is natural ) shall be raised in proportion to the lessening of the Money , no body will get by that , any more than they do now , when all things are grown dearer . Only he that is bound up by contract to receive any Sum under such a denomination of Pounds , Shillings and Pence , will find his loss sensibly when he goes to buy Commodities , and make new Bargains . The Markets and the Shops will soon convince him , that his Money , which is one fifth lighter , is also one fifth worse ; when he must pay twenty Per. Cent. more for all the Commodities he buys with the Money of the new Foot , than if he bought it with the present Coin. This Mr. Lowndes himself will not deny , when he calls to mind what he himself , speaking of the inconveniencies we suffer by our clip'd Money , says , P. 115. Persons before they conclude in any bargains , are necessitated first to settle the price or value of the very Money they are to receive for their Goods ; And if it be in clip'd or bad Money , they set the price of their Goods accordingly : Which I think has been one great cause of raising the price , not only of Merchandizes , but even of Edibles , and other necessaries for the Sustenance of the common People , to their great Grievance . That every one who receives Money after the raising our Money , on Contracts made before the change , must lose twenty per Cent. in all he shall buy , is Demonstration , by Mr. Lowndes's own Scheme . Mr. Lowndes proposes that there should be Shillings Coin'd upon the new Foot ⅕ lighter than our present Shillings , which should go for 12 pence apiece ; and that the unclip'd Shillings of the present Coin should go for fifteen pence apiece , and the Crown for seventy five pence . A man who has a Debt of an hundred Pounds owing him , upon Bond or Lease , receives it in these new Shillings , instead of lawful Money of the present Standard : He goes to Market with twenty Shillings in one Pocket of this new Money , which are valued at 240 pence ; and in the other Pocket with four mill'd Crown pieces , ( or 20 mill'd Shillings of the present Coin ) which are valued at three hundred pence , which is one fifth more : 't is Demonstration then that he loses one fifth , or 20 per Cent. in all that he buys , by the receipt of this new Money , for the present Coin , which was his due ; unless those he deals with will take four for five pence , or four shillings for five shillings . He buys , for example , a quart of Oyl for fifteen pence : If he pay for it with the old Money in one Pocket , one Shilling will do it ; if with the new Money in the other , he must add three pence to it , or a quarter of another Shilling ; And so of all the rest that he pays for , with either the old Money which he should have received his Debts in , or with the new , which he was forced to receive for it . Thus far it is Demonstration , he loses Twenty per Cent. by receiving his Debt in a new Money thus raised , when he uses it to buy any thing . But to make him amends , Mr. Lowndes tells him , Silver is now dearer ; and all things consequently will be bought cheaper twenty per Cent. I am sure there is no Demonstration of that , nor appearance of it yet ; And if I may credit Housekeepers and substantial Tradesmen , all sorts of Provisions and Commodities are lately risen excessively ; and notwithstanding the scarcity of Silver , begin to come up to the true value of our clip'd Money , every one selling their Commodities so as to make themselves amends in the number of light pieces for what they want in weight . A Creditor ought to think the new light Money equivalent to the present heavier , because it will buy as much Commodities . But what if it should fail , as 't is ten to one but it will , what security has he for it ? He is told so , and he must be satisfied . The Salt , Wine , Oyl , Silk , Naval Stores , and all Foreign Commodities , will none of them be sold us by Foreigners for a less quantity of Silver than before , because we have given the name of more Peace to it , is I think Demonstration . All our Names ( if they are any more to us ) are to them but bare sounds ; And our Coin , as theirs to us , but meer Bullion , valued only by its weight . And a Suede will no more sell you his Hemp and Pitch , or a Spaniard his Oyl , for less Silver ; because you tell him Silver is scarcer now in England , and therefore risen in value one fifth ; than a Tradesman of London will sell his Commodity cheaper to the Isle of Man , because they are grown poorer , and Money is scarce there . All Foreign Commodities must be shut out of the number of those that will fall , to comply with our raising our Money . Corn also , 't is evident , does not rise or fall , by the differences of more or less plenty of Money , but by the plenty and scarcity that God gives . For our Money , in appearance remaining the same , the Price of Corn is double one year to what it was the precedent ; and therefore we must certainly make account , that since the Money is one fifth lighter , it will buy one fifth less Corn Communibus annis . And this being the great expence of the Poor , that takes up almost all their Earnings ; if Corn be Communibus annis sold for one fifth more Money in Tale than before the change of our Money , they too must have one fifth more in Tale of the new Money for their Wages , than they have now ; and the Day-labourer must have , not only twelve , but fifteen pence of the new Money a day , which is the present Shilling , that he has now , or else he cannot live . So that all Foreign Commodities , with Corn and Labour , keeping up their value to the quantity of Silver , they sell for now ; and not complying in the fall of their real price with the nominal raising of our Money ; there is not much left wherein Landlords and Creditors are to expect the recompense of 20 per Cent. abatement of price in Commodities to make up their loss in the lightness of our Money they are paid their Rents and Debts in . 'T would be easie to shew the same thing concerning our other native Commodities , and make it clear , that we have no reason to expect they should abate of their present price , any more than Corn and Labour . But this is enough , and any one , who has a mind to it , may trace the rest at his leisure . And thus I fear the hopes of cheaper Penny-worths , which might beguile some Men into a belief , that Landlords and Creditors would receive no less by the proposed new Money , is quite vanished . But if the promise of better Penny-worths and a fall of all Commodities Twenty per Cent. should hold true , this would not at all relieve Creditors and Landlords , and set them on equal terms with their Neighbours : Because the cheap Penny-worths will not be for them alone ; but every body else , as well as they , will share in that advantage ; so that their Silver being diminished one fifth in their Rents and Debts , which are paid them , they would still be Twenty per Cent. greater losers than their unhoarding Neighbours , and Forty per Cent. greater losers than the Hoar●ers of Money ; Who will certainly get Twenty per Cent. in the Money , whatever happens in the price of things ; And Twenty per Cent. more in the cheapness of Commodities , if that promised recompence be made good to Creditors and Landlords . For the Hoarders of Money ( if the price of things falls ) will buy as cheap as they . So that what ever is said of the cheapness of Commodities , 't is Demonstration , ) whether that proves true or no ) That Creditors , and Landlords , and all those who are to receive Money upon Bargains made before the proposed change of our Coin , will unavoidably lose Twenty per Cent. One thing Mr. Lowndes says in this Paragraph very remarkable , which I think decides the Question . His words p. 78. are these , That if the value of the Silver in the Coins ( by an extrinsick denomination ) be raised above the value or market price of the same Silver reduc'd to Bullion , the Subject would be proportionably injured and defrauded , as they were formerly in the case of base Moneys coin'd by publique Authority . It remains therefore only to shew , that the Market-price of Standard Bullion is not one fifth above our Coin that is to be raised , and then we have Mr. Lowndes of our side too against its raising . I think it is abundantly proved already , that Standard Bullion neither is , nor can be worth one fifth more than our Lawful weighty Money : And if it be not , by Mr. Lowndes's confession , there is no need of raising our present legal mill'd Money to that degree ; and 't is only our clip'd Money that wants amendment : And when that is recoin'd and reduced all to mill'd and lawful Money , that then too will have no need of raising . This I shall now prove out of Mr. Lowndes's own words here . Mr. Lowndes in the forecited words compares the value of Silver in our Coin , to the value of the same Silver reduc'd to Bullion ; which he supposing to be as four to five , makes that the measure of the raising our Money . If this be the difference of Value between Silver in Bullion , and Silver in Coin ; And it be true , that four Ounces of Standard Bullion be worth five Ounces of the same Silver Coin'd ; Or , which is the same thing , that Bullion will sell by the Ounce for Six Shillings and five Pence unclip'd Money ; I will take the boldness to advise His Majesty to buy , or to borrow any where so much Bullion , or rather than be without it , melt down so much Plate , as is equal in weight to twelve hundred pounds Sterling of our present mill'd Money . This let him sell for mill'd Money ; And according to our Authors Rule , it will yield fifteen hundred pounds . Let that fifteen hundred pounds be reduc'd into Bullion , and sold again , and it will produce eighteen hundred and Sixty Pounds : Which 1860 l. of weighty Money being reduced to Bullion , will still produce one fifth more in weight of Silver , being sold for weighty Money . And thus His Majesty may get at least Three hundred and twenty thousand Pounds by selling of Bullion for weighty Money , and melting that down into Bullion , as fast as he receives it ; till he has brought into his hands the Million and Six hundred thousand Pounds , which Mr. Lowndes computes there is of weighty Money left in England . I doubt not but every one who reads it , will think this a very ridiculous Proposition . But he must think it ridiculous for no other reason , but because he sees 't is impossible , that Bullion should sell for one fifth above its weight of the same Silver Coin'd ; That is , than an Ounce of Standard Silver should sell for six shillings five pence of our present weighty Money . For if it will , 't is no ridiculous thing that the King should melt down , and make that profit of his Money . If our Author's Rule , ( p. 78 , where he says , That the only just and reasonable Foot upon which the Coins should be current , is the very price of the Silver thereof , in case it be molten in the same place where Coins are made current ) be to be observed ; Our Money is to be raised but an half penny in five shillings ; for that was the ordinary odds in the price between Bullion and Coin'd Silver , before Clipping had deprived us , in Commerce , of all our mill'd and weighty Money . And Silver in Standard Bullion would not be in value one jot above the same Silver in Coin , if clip'd Money were not current by Tale , and Coin'd Silver ( as Mr. Lowndes proposes , p. 73 ) as well as Bullion , had the liberty of Exportation . For when we have no clip'd Money , but all our current Coin is weight , according to the Standard , all the odds of value that Silver in Bullion has to Silver in Coin , is only owing to the Prohibition of its Exportation in Money ; And never rises , nor can rise , above what the Goldsmith shall estimate the risque and trouble of melting it down ; which is so little , that the Importers of Silver could never raise it to above an half penny an Ounce , but at such times as the East-India Company , or some Foreign Sale , calling for a great quantity of Silver at a time , made the Goldsmith scramble for it ; and so the Importers of Bullion raise its price upon them , according to the present need of great quantities of Silver , which every Goldsmith ( eager to ingross to himself as much as he could ) was content to pay high for , rather than go without : His present gains from those whom he furnish'd , and whom otherwise he could not furnish , making him amends . The natural value then between Silver in Bullion , and in Coin , is ( I say ) every where equal ; bating the charge of Coinage , which gives the advantage to the side of the Coin. The ordinary odds here in England , between Silver in Bullion , and the same in our Coin , is by reason that the Stamp hinders its free Exportation about an half penny in the Crown . The accidental difference , by reason of suddain occasions , is sometimes ( but rarely ) two pence in five shillings , or somewhat more in great urgencies . And since the ordinary rate of things is to be taken as the measure of their price , and Mr. Lowndes tells us , p. 78. That if the value of the Silver in the Coins should be raised above the value , or Market Price , of the same Silver reduced to Bullion , the Subject would be proportionably injured and defrauded ; I leave him to make the Inference , what will be the consequence in England , if our Coin be raised here one fifth , or twenty per Cent. Mr. Lowndes says farther , p. 80. That Silver has a price . I answer ; Silver to Silver can have no other price , but quantity for quantity . If there be any other difference in value , it is or can be nothing but one of these two : First , either the value of the labour imploy'd about one parcel of Silver more than another , makes a difference in their price ; and thus fashion'd Plate sells for more than its weight of the same Silver ; and in Countries where the Owners pay for the Coinage , Silver in Coin is more worth than its weight in Bullion ; but here , where the Publick pays the Coinage , they are of very near equal value , when there is no need of Exportation : For then there is no more odds than the trouble of carrying the Bullion to the Mint , and fetching again , is worth ; Or the charge of refining so much of it , as will bring it to Standard , if it be worse than Standard . Or Secondly , some Priviledge belonging to one parcel of Silver which is denied to another , viz. Here in England a liberty of Exportation allowed to Silver in Bullion , deny'd to Silver Stamp'd . This , when there is need of Exportation of Silver , gives some small advantage of value to uncoin'd Silver here , above Coin'd ; but that is ordinarily very inconsiderable ; and can never reach to one fifth , nor half one fifth , as has been already shewn . And this I think will answer all that is said about the price of Silver in that place . 'T is true what Mr. Lowndes says in the next words , p. 81. That five shillings coin'd upon the Fo●t propos'd , will actually contain more real and intrinsick value of Silver by a great deal , than is in the current Money now commonly applied to the payment of the said Rents , Revenues and Debts . But will he hence conclude , because there is now lost in those Rents , Revenues and Debts , a great deal more than twenty per Cent. under the present irregularity of our Coin , and the Robbery in clip'd Money , without any the least neglect or miscarriage in the Owner that intitled him to that loss , that therefore it is just that the loss of Twenty per Cent. be establish'd on him by Law for the future , in the reforming of our Coin ? Mr. Lowndes's second reason for lessening our Coin we have p. 82. in these words , The value of the Silver in the Coin ought to be raised , to encourage the bringing of Bullion to the Mint to be Coin'd . This raising of Money is , in effect , as has been seen , nothing but giving a denomination of more pence to the same quantity of Silver , viz. That the same quantity of Silver shall hereafter be called seventy five pence , which is now call'd but sixty pence . For that is all is done : As is manifest , when a Crown piece which now goes but for sixty pence , shall be made to go for seventy five pence ; for 't is plain , it contains nothing of Silver , or worth in it , more than it did before . Let us suppose , that all our Silver Coin now in England were Six pences , Shillings , Half-crowns and Crowns , all milled Money , full weight according to the present Standard ; And that it should be order'd , that for the future , the Crown piece instead of going for sixty pence , should go for seventy five pence , and so proportionably of all the other pieces ; I ask then , how such a change of denomination shall bring Bullion to the Mint to be Coin'd , and from whence ? I suppose this change of names , or ascribing to it more imaginary parts of any denomination , has no Charms in it to bring Bullion to the Mint to be Coin'd : For whether you call the piece Coin'd twelve pence , or fifteen pence , sixty or seventy five , a Crown or a Scepter , it will buy no more Silk , Salt or Bread than it would before . That therefore cannot tempt people to bring it to the Mint . And if it will pay more Debt , that is perfect defrauding , and ought not to be permitted . Next , I ask , from whence shall this raising fetch it ? For Bullion cannot be brought hither to stay here , whilst the Ballance of our Trade requires all the Bullion we bring in , to be Exported again , and more Silver out of our former Stock with it , to answer our exigences beyond Seas . And whilst it is so , the Goldsmiths and Returners of Money will give more for Bullion to Export , than the Mint can give for it to Coin ; and so none of that will come to the Mint . But says our Author , p. 83. An Half-penny an Ounce profit , which will be in the propos'd Coin , above the present price of Sterling Bullion , will be an encouragement to those who have English Plate , to bring it in to be Coin'd . I doubt whether there will be any such profit ; for I imagine that Standard Bullion cannot now be bought per Ounce for six shillings and five pence of our clip'd running Cash , which is the Measure whereby Mr. Lowndes determines of the price of Sterling Silver . But taking this Half-penny an Ounce profit for granted , it will not bring to the Mint any Plate , whose Fashion is valued by the Owner at an Half-penny per Ounce ; and how much then it is like to bring to the Mint , is easie to guess . The true and only good reason that brings Bullion to the Mint to be Coin'd , is the same that brings it to England to stay there , viz. The gain we make by an over-ballance of Trade . When our Merchants carry Commodities abroad , to a greater value than those they bring home , the overplus comes to them in Foreign Coin or Bullion , which will stay here , when we gain by the Ballance of our whole Trade . For then we can have no Debts beyond Sea to be paid with it : In this thriving posture of our Trade , those to whose share this Bullion falls , not having any use of it whilst it is in Bullion , choose to carry it to the Mint to have it Coin'd there , whereby it is of more use to them for , all the business of Silver in Trade , or purchasing Land ; the Mint having ascertained the weight and fineness of it : So that on any occasion , every one is ready to take it at its known value , without any ●●●●ple ; a convenience that is wanting in Bullion . But when our Trade runs on the other side , and our exported Commodities will not pay for those Foreign ones we consume , our Treasure must go ; and then it is in vain to bestow the labour of Coining on Bullion that must be Exported again . To what purpose is it to make it pass through our Mint , when it will away ? The less pains and charge it costs us , the better . His third reason P. 83 is , that this raising our Coin by making it more in tale , will make it more commensurate to the general need thereof , and thereby hinder the increase of hazardous Paper-credit , and the inconveniency of Bartering . Just as the Boy cut his Leather into five Quarters ( as he call'd them ) to cover his Ball , when cut into four Quarters it fell short : But after all his pains , as much of his Ball lay bare as before . If the quantity of Coin'd Silver employ'd in England falls short , the arbitrary denomination of a greater number of Pence given to it , or which is all one , to the several Coin'd pieces of it , will make it commensurate to the size of our Trade , or the greatness of our occasions . This is as certain , as that if the quantity of a Board which is to stop a Leak of a Ship fifteen Inches square , be but twelve Inches square , it will not be made to do it , by being measured by a Foot that is divided into fifteen Inches instead of twelve , and so having a larger tale or number of Inches in denomination given to it . This indeed would be a convincing Reason , if sounds would give weight to Silver , and the noise of a greater number of pence ( less in quantity proportionably as they are more in number ) were a large supply of Money , which our Author P. 84 says our occasions require , and which he by an increase of the tale of pence hopes to provide . But that Mistake is very visible , and shall be further shewn in the business of Bartering . The necessity of Trust and Bartering is one of the many inconveniencies springing from the want of Money . This inconvenience , the multiplying arbitrary denominations , will no more supply , nor any ways make our scarcity of Coin commensurate to the need there is of it , than if the Cloth which was provided for clothing the Army , falling short , one should hope to make it commensurate to that need there is of it , by measuring it by a Yard one fifth shorter than the Standards or changing the Standard of the Yard , and so getting the full denomination of Yards , necessary according to the present measure . For this is all will be done by raising our Coin , as is proposed . All it amounts to , is no more but this , viz. That each piece , and consequently our whole Stock of Money , should be measured and denominated by a penny one fifth less than the Standard . Where there is not Coin'd Silver in proportion to the value of the Commodities that daily change Owners in Trade , there is a necessity of Trust , or Bartering ; i. e. changing Commodities for Commodities , without the intervention of Money . For Example , let us suppose in Bermudos but an hunderd pounds in ready Money ; but that there is every day there a transferring of Commodities from one Owner to anther , to the value of double as much . When the Money is all got into hands that have already bought all that they have need of for that day , whoever has need of any thing else that day , must either go on tick , or barter for it ; i. e. give the Commodities he can best spare , for the Commodities he wants , v. g. Sugar for Bread , &c. Now 't is evident here , that changing the Denomination of the Coin they already have in Bermudos , or Coining it over again under new Denominations , will not contribute in the least towards the removing this necessity of Trust or Bartering . For the whole Silver they have in Coin , being but four hundred Ounces ; and the exchange of the value of Commodities made in a distance of time , wherein this Money is paid , not above once , being to the value of eight hundred Ounces of Silver ; 't is plain that one half of the Commodities that shift hands , must of necessity be taken upon credit , or exchanged by Barter ; those who want them having not Money to pay for them . Nor can any alteration of the Coin , of Denomination of these four hundred Ounces of Silver help this : Because the value of the Silver , in respect of other Commodities , will not thereby be at all increased ; And the Commodities changed , being ( as in the case ) double in value to the four hundred Ounces of Coin'd Silver to be laid out in them ; nothing can supply this want but a double quantity , i. e. eight hundred Ounces of Coin'd Silver ; how denominated it matters not , so there be a fit proportion of small pieces to supply small payments . Suppose the Commodities passing every day in England , in Markets and Fairs , between strangers , or such as trust not one another , were to the value of a Million of Ounces of Silver ; and there was but half a Million of Coin'd Silver in the hands of those who wanted those Commoditie ; 't is Demonstration they must truck for them , or go without them . If then the Coin'd Silver of England , be not sufficient to answer the value of Commodities moving in Trade amongst us , Credit or Barter must do it . Where the Credit and Money fail , Barter alone must do it : Which being introduced by the want of a greater plenty of Coin'd Silver , nothing but a greater plenty of Coin'd Silver can remove it . The increase of Denomination does , or can do nothing in the case : For 't is Silver by its quantity , and not Denomination , that is the price of things , and measure of Commerce ; and 't is the weight of Silver in it , and not the name of the piece that men estimate Commodities by , and exchange them for . If this be not so , when the necessity of our affairs abroad , or ill husbandry at home , has carried away half our Treasure , and a moiety of our Money is gone out of England ; 't is but to issue a Proclamation , that a Penny shall go for Two-pence , Six-pence for a Shilling , half a Crown for a crown , &c. and immediately without any more ado we are as rich as before . And when half the remainder is gone , 't is but doing the same thing again , and raising the Denomination anew , and we are where we were , and so on : Where by supposing the denomination raised 15 / 16 , every man will be as rich with an Ounce of Silver in his Purse as he was before when he had sixteen Ounces there ; and in as great plenty of Money , able to carry on his Trade , without bartering ; his Silver , by this short way of raising , being chang'd into the value of Gold : For when Silver will buy sixteen times as much Wine , Oyl , and Bread , &c : to day , as it would yesterday ( all other things remaining the same but the Denomination ) it hath the real worth of Gold. This I guess every body sees cannot be so . And yet this must be so , if it be true , that raising the Denomination one fifth can supply the want , or one jot raise the value of Silver in respect of other Commodities ; i. e. make a less quantity of it to day , but a greater quantity of Corn , Oyl and Cloth , and all other Commodities , than it would yesterday , and thereby remove the necessity of bartering . For if raising the Denomination can thus raise the value of Coin in exchange for other Commodities one fifth , by the same reason it can raise it two fifths , and afterwards three fifths , and again , if need be , four fifths , and as much further as you please . So that by this admirable contrivance of raising our Coin , we shall be as rich and as well able to support the charge of the Government , and carry on our Trade without bartering or any other inconvenience for want of Money , with sixty thousand Ounces of Coin'd Silver in England , as if we had six or sixty Millions . If this be not so , I desire any one to shew me , why the same way of raising the denomination which can raise the value of Money in respect of other Commodities , one fifth , cannot when you please raise it another fifth , and so on ? I beg to be told where it must stop , and why at such a degree without being able to go farther . It must be taken notice of , that the raising I speak of here , is the raising of the value of our Coin in respect of other Commodities ( as I call it all along ) in contradistinction to raising the Denomination . The confounding of these in discourses concerning Money , is one great cause , I suspect , that this matter is so little understood , and so often talked of with so little Information of the hearers . A Penny is a denomination no more belonging to eight than to eighty , or to one single grain of Silver : And so it is not necessary that there should be sixty such Pence , no more nor less , in an Ounce of Silver i. e. twelve in a piece call'd a Shilling , and sixty in a piece call'd a Crown ; such like divisions being only extrinsical denominations , are every where perfectly arbitrary , For here in England there might as well have been twelve Shillings in a Penny , as twelve Pence in a Shilling , i. e. the denomination of the less piece might have been a Shilling , and of the bigger a penny . Again , the Shilling might have been Coin'd ten times as big as the Penny , and the Crown ten times as big as the Shilling ; whereby the Shilling would have had but ten Pence in it , and the Crown an hundred . But this , however order'd , alters not one jot the value of the Ounce of Silver in respect of other things , any more than it does its weight . This raising being but giving of names at pleasure to aliquot parts of any piece , viz. that now the sixtieth part of an Ounce of Silver shall be call'd a Penny , and to morrow that the seventy fifth part of an Ounce of Silver shall be call'd a Penny , may be done with what increase you please : And thus it may be order'd by a Proclamation , that a Shilling shall go for twenty four pence , an half-Crown for sixty instead of thirty pence , and so of the rest . But that an half-Crown shall be worth , or contain , sixty such Pence as the Pence were before this change of denomination was made , that no power on Earth can do : Nor can any Power ( but that which can make the plenty or scarcity of Commodities ) raise the value of our Money thus double in respect of other Commodities , and make that the same piece , or quantity of Silver , under a double denomination , shall purchase double the quantity of Pepper , Wine or Lead , an instant after such Proclamation , to what it would do an instant before . If this could be , we might , as every one sees , raise Silver to the value of Gold , and make our Selves as Rich as we pleased . But 't is but going to Market with an Ounce of Silver of one hundred and twenty pence , to be convinc'd that it will purchase no more than an Ounce of Silver of sixty pence . And the ringing of the piece will as soon purchase more Commodities as its change of denomination , and the multipli'd name of pence , when it is call'd six score instead of sixty . 'T is propos'd , that the twelve pence should be raised to fifteen pence , and the Crown to seventy five pence , and so proportionably of the rest : But yet that the Pound Sterling should not be raised . If there be any advantage in raising , why should not that be raised too ? And as the Crown piece is raised from sixty , to seventy five pence , why should not the Pound Sterling be raised in the same proportion , from Two hundred and forty pence , to Three hundred pence ? Farther , If this raising our Coin can so stretch our Money and enlarge our pared remainder of it , as to make it more commensurate to the general need thereof , for carrying on the common Traffick and Commerce of the Nation , and to answer occasions requiring a larger Supply of Money , as Mr. Lowndes tells us in his third Reason P. 83 Why are we so nigardly to our selves in this time of occasion , as to stop at one fifth ? Why do we not raise it one full Moiety , and thereby double our Money ? If Mr. Lowndes's Rule P. 78 That if the value of the Silver in the Coin , should be raised above the Market price of the same Silver reduc'd to Bullion ; the Subject would be proportionably injur'd and defrauded , must keep us from this advantages and the publick care of Justice stop the raising of the Money at one fifth , because if our Money be raised beyond the Market-price of Bullion , it will be so much defrauding of the Subject : I then say it must not be raised one fifth , nor half one fifth , that is , it must not be raised fifteen pence in the Crown ; no nor five pence . For I deny that the Market-price of Standard Bullion ever was , or ever can be five Shillings seven Pence of lawful weighty Money the Ounce : So that if our present mill'd Money be raised one fifth , the Subjects will by Mr. Lowndes's Rule , be defrauded sixteen per Cent. nay , above eighteen per Cent. For the Market-Price of Standard Bullion being ordinarily under five Shillings four Pence the Ounce , when sold for weighty Money ( which is but one thirtieth ) whatever our present mill'd Money is raised above one thirtieth , it is by Mr. Lowndes's Rule so much defrauding the Subject . For the Market-price of any thing , and so of Bullion , is to be taken from its ordinary rate all the Year round ; and not from the extraordinary rise of two or three Market-days in a Year . And that the Market-price of Standard Silver was not found , nor pretended to be above five Shillings and four Pence the Ounce , before cliping had left none but light running Cash to pay for Bullion , or any thing else , is evident from a Paper then publish'd , which I took the liberty to examine in my Consideration of the consequences of raising the value of Money , &c. Printed 1692. The Author of that Paper , 't is manifest , was not ignorant of the price of Silver , nor had a design to lessen its rate , set down the highest price it then bore . If then , Mr. Lowndes's Rule of Justice , and care of the Subject , be to regulate the rise of our mill'd Money , it must not be raised above one thirtieth part . If the advantages he promises , of making our Money , by raising it one fifth , more commensurate to the general need thereof , be to be laid hold on , 't is reasonable to further , and make it yet more commensurate to the general need there is of it . Which ever of the two Mr. Lowndes will prefer , either reason of State , or rule of Justice , one fifth must not be his measure of raising our present mill'd Money . If the advantage of making our Money more proportionate to our Trade , and other necessities , be to govern its proposed raising , every one will cry out to Mr. Lowndes , If your way will do what you say , the raising it one half will be much better than one fifth , and therefore pray let an Half-crown be raised to a Crown , and a Six-pence to a Shilling . If Equity , and the consideration of the Subjects Property ought to govern in the case , you must not raise our mill'd Crown to above Five Shillings and Four Pence . If it here be said to me , that I do then allow that our Money may be raised one thirtieth , i. e. that the Crown piece should be raised to Five Shillings and two Pence , and so proportionably of the other species of our Coin ; I answer , he that infers so , makes his Inference a little too quick . But let us for once allow the ordinary price of Standard Silver to be Five Shillings Four Pence the Ounce , to be paid for in weighty Coin ( for that must always be remembred , when we talk of the rate of Bullion ) and that the rate of Bullion is the just measure of raising our Money . This I say is no reason for the raising our mill'd Crown now to Five Shillings Four Pence , and recoining all our clip'd Money upon that Foot ; unless we intend , as soon as that is done , to new raise , and Coin it again . For whilst our Trade and Affairs abroad require the exportation of Silver , and the exportation of our Coin'd Silver is prohibited , and made penal by our Law , Standard Bullion will always be sold here for a little more than its weight of Coin'd Silver . So that if we shall indeavour to equal our weighty Coin'd Silver to Standard Bullion , by raising it , whilst there is a necessity of the exportation of Silver , we shall do no otherwise than a Child , who runs to overtake and get up to the top of his shadow , which still advances at the same rate that he does . The priviledg that Bullion has , to be exported freely , will give it a little advance in price above our Coin , let the Denomination of that be raised or fallen as you please , whilst there is need of its Exportation , and the Exportation of our Coin is prohibited by Law. But this advance will be but little , and will always keep within the bounds which the risque and trouble of melting down our Coin shall set to it in the estimate of the Exporter . He that will rather venture to throw an Hundred Pound into his Melting-pot , when no body sees him , and reduce it to Bullion , than give an Hundred and Five Pounds for the same weight of the like Bullion , will never give Five Shillings and Five Pence of mill'd Money for an Ounce of Standard Bullion ; nor buy at that price , what he can have near Five per Cent. cheaper , without any risque , if he will not accuse himself . And I think it may be concluded , that very few , who have Furnaces , and other conveniencies ready for melting Silver , will give One per Cent. for Standard Bullion , which is under Five Shillings and Three Pence per Ounce , who can only for the trouble of melting it , reduce our Coin to as good Bullion . The odds of the price in Bullion to Coin on this account ( which is the only one , where the Coin is kept to the Standard ) can never be a reason for raising our Coin to preserve it from melting down : Because this price above its weight is given for Bullion , only to avoid melting down our Coin ; and so this difference of price between Standard Bullion and our Coin , can be no cause of its melting down . These three Reasons which I have examin'd , contain the great advantages , which our Author supposes the propos'd raising of our Coin will produce . And therefore I have dwelt longer upon them . His remaining six Reasons being of less moment , and offering most of them , but some circumstantial conveniencies , as to the computation of our Money , &c. I shall more briefly pass over . Only before I proceed to them , I shall here set down the different value of our Money , collected from our Authors History of the several changes of our Coin , since Edward the First 's Reign , quite down to this present time . A curious History indeed , for which I think my self and the World indebted to Mr. Lowndes's great Learning in this sort of knowledg , and his great exactness in relating the particulars . I shall remark only the quantity of Silver was in a Shilling in each of those Changes ; that so the Reader may at first sight , without farther trouble , compare the lessening , or increase of the quantity of Silver upon every change . For in propriety of speech , the adding to the quantity of Silver in our Coin , is the true raising of its value ; and the diminishing the quantity of Silver in it , is the sinking of its value ; however they come to be transpos'd and used in the quite contrary sense . If my Calculations , from the Weight and Fineness I find set down in Mr. Lowndes's Extract out of the Indentures of the Mint , have not misled me , the quantity of Silver to a Grain , which was in a Shilling in every Change of our Money , is set down in the following Table . One Shilling contain'd of Fine Silver       Grains . 28 Edw. 1 264 18 Edw. 3 236 27 Edw. 3 213 9 Hen. 5 176 1 Hen. 6 142 4 Hen. 6 176 49 Hen. 6 142 1 Hen. 8 118 34 Hen. 8 100 36 Hen. 8 60 37 Hen. 8 40 3 Edw. 6 40 5 Edw. 6 20 6 Edw. 6 88 2 Eliz.   89 43 Eliz.   86 And so it has remain'd from the 43 of Elizabeth to this day . Mr. Lowndes's 69 Mr. Lowndes having given us the Fineness of the Standard Silver in every Reign , and the number of pieces it was Coin'd into , closes this History with words to this purpose , p. 56. By this deduction it doth evidently appear , that it hath been a Policy constantly practised in the Mints of England , to raise the value of the Coin in its extrinsick Denomination from time to time , as any exigence or occasion required , and more especially to encourage the bringing of Bullion into the Realm to be Coin'd . This indeed , is roundly to conclude for his Hypothesis . But I could wish , that from the Histories of those Times , wherein the several changes were made , he had shew'd us the Exigences and Occasions that produced the raising of the Coin , and what effects it had . If I mistake not , Henry the 8 ths several raisings of our Coin , brought little increase of Silver into England . As the several Species of our Coin lessen'd in their respective quantities of Silver ; so the Treasure of the Realm decreased too : And he that found the Kingdom rich , did not , as I remember , by all his raisings our Coin , leave it so . Another thing , ( that from this History ) makes me suspect that the raising the Denomination was never found effectively to draw Silver into England , is the lowering the Denomination , or adding more Silver to the several Species of our Coin , as in Hen. VI's time , the Shilling was increased from One Hundred Forty Two Grains of Silver , to One Hundred Seventy Six . And in the 6 th of Edw. VI , in whose time raising the Denomination seems to have been tried to the utmost , when a Shilling was brought to Twenty Grains of Silver . And the great alteration that was then quickly made on the other hand , from Twenty to Eighty Grains at one leap , seems to shew that this lessening the Silver in our Coin , had proved highly prejudicial : For this is a greater change in sinking of the Denomination in proportion , than ever was made at once in raising it ; A Shilling being made four Times weightier in Silver in the 6 th , than it was in the 5 th year of Edw. VI. his Reign . Kingdoms are seldom found weary of the Riches they have , or averse to the increase of their Treasure . If therefore the raising the Denomination did in reality bring Silver into the Realm , it cannot be thought that they would at any time sink the Denomination , which by the Rule of contraries should be at least suspected to drive , or keep it out . Since therefore we are not from matter of Fact informed , what were the true Motives that caused those several changes in the Coin ; May we not with Reason suspect , that they were owing to that Policy of the Mint , set down by our Author , p. 83. in these words , that the proposed advance is agreeable to the Policy that in past Ages hath been practised , not only in our Mint , but in the Mints of all Politick Governments ; namely , to raise the value of Silver in the Coin to promote the work of the Mint ? As I remember , suitable to this Policy of the Mint , there was , some two years since , a complaint of a worthy Gentleman , not ignorant of it , that the Mill in the Mint stood still ; And therefore there was a Proposal offer'd for bringing Grist to the Mill. The business of Money , as in all Times , even in this our quick-sighted Age , hath been thought a Mystery : Those imploy'd in the Mint must , by their places , be supposed to penetrate deepest into it . 'T is no impossible thing then to imagine , that it was not hard , in the Ignorance of past Ages , when Money was little , and Skill in the Turns of Trade less , for those versed in the Business and Policy of the Mint , to perswade a Prince , especially if Money were scarce , that the Fault was in the Standard of the Mint , and that the way to increase the Plenty of Money , was to raise ( a well sounding Word ) the Value of the Coin. This could not but be willingly enough hearkened to ; when , besides the Hopes of drawing an Increase of Silver into the Realm , it brought present Gain by the Part which the King got of the Money , which was hereupon all coined anew , and the Mint Officers lost nothing , since it promoted the Work of the Mint . This Opinion Mr. Lowndes himself gives sufficient ground for in his Book , particularly p. 29. where we read these Words , Although the former Debasements of the Coins by publick Authority , especially those in the Reign of King Henry VIII . and King Edward VI. might be projected for the Profit of the Crown , and the Projectors might measure that Profit by the excessive Quantities of Allay that were mixed with the Silver and the Gold ( and let me add , or by the Quantity of Silver lessened in each Species , which is the same thing ) And though this was enterprized by a Prince , who could stretch his Prerogative very far upon his People ; and was done in Times when the Nation had very little Commerce , Inland or Foreign , to be injur'd and prejudiced thereby ; yet Experience presently shewed , that the Projectors were mistaken , and that it was absolutely necessary to have the base Money reformed . This at least they were not mistaken in , that they brought Work to the Mint , and a Part of the Money coined to the Crown for Seigniorage ; in both which there was Profit . Mr. Lowndes tells us , p. 44. that Henry VIII . had to the Value of fifty Shillings for every Pound Weight of Gold coined : I have met with it somewhere , that formerly the King might take what he pleased for Coinage . I know not too but the flattering Name of raising Money might prevail then as it does now ; and impose so far on them , as to make them think the raising , i. e. diminishing the Silver in their Coin , would bring it into the Realm , or stay it here when they found it going out . For if we may guess at the other , by Henry VIII's raising , it was probably when , by reason of Expence in foreign Wars , or ill managed Trade , they found Money begin to grow scarce . The having the Species of our Coin one fifth bigger , or one fifth less than they are at present , would be neither good nor harm to England , if they had always been so . Our Standard has continued in weight and fineness just as it is now , for very near this hundred Years last past : And those who think the Denomination and Size of our Money have any Influence on the State of our Wealth , have no reason to change the present Standard of our Coin ; since under that we have had a greater increase , and longer Continuance of Plenty of Money , than perhaps any other Country can shew ; I see no reason to think , that a little bigger or less Size of the pieces coined , is of any moment one was or t'other . The Species of Money in any Country , of whatsoever Sizes , fit for coining , if their Proportions to one another be suited to Arithmetick and Calculations , in whole Numbers , and the Ways of Account in that Country adapted to small Payments , and carefully kept to their just Weight and Fineness , can have no Harm in them . The Harm comes by the change , which unreasonably and unjustly gives away and transfers Men's Properties , disorders Trade , puzzels Accounts , and needs a new Arithmetick to cast up Reckonings , and keep Accounts in ; besides a thousand other Inconveniencies ; not to mention the Charge of recoining the Money . For this may be depended on , that if our Money be raised , as is proposed , it will inforce the recoining of all our Money , both old and new ( except the new Shillings ) to avoid the terrible Difficulty and Confusion there will be in keeping Accounts in Pounds , Shillings , and Pence ( as they must be ) when the Species of our Money are so ordered , as not to answer those Denominations in round Numbers . This Consideration leads me to Mr. Lowndes fifth and sixth Reasons , p. 85. wherein he recommends the raising our Money in the Proportion proposed , for its Convenience , to our accounting by Pounds , Shillings , and Pence . And for obviating Perplexity among the common People , he proposes the present weigthy Crown to go at six Shillings three Pence ; and the new Scepter or Vnite to be coined of the same Weight , to go at the same rate ; and Half-crowns , Half-scepters , or Half-unites , of the Weight of the present Half-erown , to go for two Shillings seven Pence Half-penny : By no Number of which Pieces can there be made an even Pound Sterling , or any Number of even Shillings under a Pound ; but they always fall into Fractions of Pounds and Shillings , as may be seen by this following Table .     l. s. d. 1 Crown or Scepter piece   6 3 2 Crown pieces   12 6 3 Crown pieces   18 9 4 Crown pieces 1 5   1 Half-crown piece   2 7 ½ 3 Half-crown pieces   8 10 ½ 5 Half-crown pieces   15 1 ½ 7 Half-crowns . 1 1 4 ½ The present Shilling , and new Testoon going for 15. Pence , no Number of them make any Number of even Shillings , but five Shillings , ten Shillings , fifteen Shillings , and twenty Shillings ; but in all the rest , they always fall into Fractions . The like may be said of the present Six-pences , and future half Testoons going for Seven Pence Half-penny ; the quarter Testoons , which are to go for three pence three farthings ; and the Gross and Groats , which are to go for five pence ; the half Gross or Groat , which is to go for two pence half penny ; and the Prime , which is to go for a penny farthing : Out of any Tale of each of which Species there can no just Number of Shillings be made , as I think , but five Shillings , ten Shillings , fifteen Shillings , and twenty Shillings ; but they always fall into Fractions . The new intended Shilling alone seems to be suited to our accounting in Pounds , Shillings , and Pence . The great pieces , as Scepters , and Half Scepters , which are made to serve for the Payment of greater Sums , and are for Dispatch in Tale , will not in Tale fall into even Pounds . And I fear it will puzzle a better Arithmetician , than most Country Men are , to tell , without Pen and Ink , how many of the lesser pieces ( except the Shillings ) however combined , will make just sixteen or seventeen Shillings . And I imagin there is not one Country Man of three , but may have it for his Pains , if he can tell an Hundred Pound made up of a promiscuous Mixture of the Species of this new raised Money ( excluding the Shillings ) in a days time . And that which will help to confound him , and every body else , will be the old Crowns , Half-crowns , Shillings , and Sixpences current for new Numbers of Pence . So that I take it for granted , that if our Coin be raised , as is proposed , not only all our clipp'd , but all our weighty and mill'd Money must of necessity be recoined too ; if you would no have Trade disturb'd , and People more diseased with new Money , which they cannot tell , nor keep Accounts in , than with light and clipp'd Money , which they are cheated with . And what a Charge the new coining of all our Money will be to the Nation , I have computed in another place . * That I think is of some Consideration in our present Circumstances , though the Confusion that this new raised Money , I fear , is like to introduce ; and the want of Money , and stop of Trade , when the clipp'd is called in , and the weighty is to be recoin'd ; be of much greater . His fourth , Eighth , and Ninth Reasons , p. 84. and 86. are taken from the saving our present mill'd Money from being cut and recoin'd . The End I confess to be good : 'T is very reasonable , that so much excellent Coin , as good as ever was in the World , should not be destroyed . But there is , I think , a surer and easier way to preserve it , than what Mr. Lowndes proposes . 'T is past doubt , it will be in no danger of recoining , if our Money be kept upon the present Foot : But if it be raised , as Mr. Lowndes proposes , all the present mill'd Money will be in danger , and the Difficulty of counting it upon the new proposed Foot will inforce it to be recoin'd into new pieces of Crowns , Half-crowns , Shillings , and Six-pences , that may pass for the same Number of Pence the present do , viz. 60.30.12 . and 6. as I have above shewn . He says in his fourth Reason , that if pieces , having the same Bigness , should have different Values , it might be difficult for the common People ( especially those not skill'd in Arithmetick ) to compute how many of one kind will be equal to he Summ of another . Such Difficulties and Confusion , in counting Money , I agree with him , ought carefully to be avoided . And therefore , since if pieces having the same Bigness and Stamp , which the People are acquainted with , shall have new Values different from those which People are accustomed to ; and these new Values shall in Numbers of Pence not answer our way of accounting by Pounds and Shillings ; it will be difficult for the common People ( especially those not skill'd in Arithmetick ) to compute how many of any one kind will make any Summ they are to pay or receive ; Especially when the Numbers of any one kind of pieces will be brought into so few even Summs of Pounds and Shilings . And thus Mr. Lowdes's Argument here turns upon himself , and is against raising our Coin , to the Value proposed by him , from the Confusion it will produce . His 8 th . Reason , p. 86. we have in these Words ; It is difficult to conceive how any Design of amending the clipp'd Money , can be compassed without raising the Value of the Silver remaining in them , because of the great Deficiency of the Silver clipped away ( which upon recoining ) must necessarily be defraid and born one way or other . 'T is no Difficulty to conceive , that clipp'd Money , being not lawful Money , should be prohibited to pass for more than its Weight . Next , it is no Difficulty to conceive , that clipp'd Money , passing for no more than its Weight , and so being in the state of Standard Bullion , which cannot be exported , should be brought to the Mint , and there exchang'd for weighty Money . By this way , it is no Difficulty to conceive how the amending the clipp'd Money may be compassed , because this way the Deficiency of the Silver clipp'd away , will certainly be defraid and born one way or other . And thus I have gone over all Mr. Lowndes's Reasons for raising our Coin : wherein , though I seem to differ from him , yet I flatter my self , it is not altogether so much as at first sight may appear ; since by what I find in another Part of his Book , I have reason to judge he is a great deal of my Mind . For he has five very good Arguments for continuing the present Standard of Fineness , each of which is as strong for continuing also the present Standard of Weight ; i. e. continuing a Penny of the same Weight of Standard Silver , which at present it has . He that has a mind to be satisfied of this , may read Mr. Lowndes's first five Reasons for continuing the present Standard of Fineness , which he will find in his 29 , 30 , 31 , 32 pages of his Report . And when Mr. Lowndes himself has again considered what there is of Weight in them , and how far it reaches , he will at least not think it strange if they appear to me and others , good Arguments against putting less Silver into our Coin of the same Denominations , let that Diminution be made what way it will. What Mr. Lowndes says about Gold Coins , p. 88. &c. appears to me highly rational , and I perfectly agree with him ; excepting only that I do not think Gold is in regard of Silver risen ⅕ in England ; which I think may be thus made out . A Guinea weighing five Penny Weight and nine Grains , or one hundred and twenty nine Grains ; and a Pound Sterling weighing one thousand eight hundred and sixty Grains ; A Guinea at twenty Shillings is as one hundred and twenty nine to one thousand eight hundred and sixty ; that is , as one to fourteen and an half . A Guinea at two and twenty Shillings , is as one hundred and twenty nine , to two thousand forty two , i. e. as one to sixteen . A Guinea at thirty Shillings , is as one hundred twenty nine to two thousand seven hundred eighty four , i. e. as one to twenty one and a half , near . He therefore that receives twenty Shillings mill'd Money for a Guinea , receives one thousand eight Hundred and sixty Grains Standard Silver , for one hundred twenty nine Grains of Standard Gold , i. e. fourteen and an half for one . He who receives two and twenty Shillings mill'd Money for a Guinea , has two thousand forty two Grains Standard Silver , for one hundred twenty nine Grains Standard Gold , i. e , sixteen for one . He who receives thirty Shillings mill'd Money for a Guinea , has two thousand seven hundred eighty four Grains Standard Silver , for one hundred twenty nine Grains of Gold , i. e. twenty one and an half for one . But the current Cash being ( upon Tryals made about Midsummer last ) computed by Mr. Lowndes P. 108. to want half its Standard weight , and not being mended since , it is evident he who receives thirty Shillings of our present clip'd Money , for a Guinea , has but One thousand three hundred ninety two Grains of Standard Silver , for One hundred twenty nine Grains of Gold , i. e. has but ten and three quarters of Silver for one of Gold. I have left out the utmost precisions of fractions in these computations , as not necessary in the present Case , these whole Numbers shewing well enough the difference of the value of Guineas at those several Rates . If it be true what I here assert , viz. That he who receives 30 Shillings in our Current clip'd Money for a Guinea , receives not eleven Grains of Silver for one of Gold ; wheras the value of Gold to Silver in all our Neighbouring Countries is about fifteen to one , which is about a third part more ; It will probably be demanded , how comes it to pass that Foreigners , or others , import Gold ; when they do not receive as much Silver for it here , as they may have in all other Countries ? The reason whereof is visibly this , that they exchange it not here for Silver , but for our Commodities ; And our Bargains for Commodities as well as all other Contracts being made in Pounds Shillings and Pence , our clip'd Money retains amongst the People ( who know not how to count but by Current Money ) a part of its legal value , whilst it passes for the satisfaction of legal Contracts , as if it were Lawful Money . As long as the King receives it for his Taxes , and the Landlord for his Rent , 't is no wonder the Farmer and Tenent should receive it for his Commodities . And this perhaps would do well enough , if our Money and Trade were to Circulate only amongst our Selves , and we had no Commerce with the rest of the World , and needed it not . But here lies the loss , when Foreigners shall bring over Gold hither , and with that pay for our Commodities at the rate of Thirty Shillings the Guinea , when the same quantity of Gold that is in a Guinea is not beyond Sea worth more Silver than is in twenty , or one and twenty and six Pence of our mill'd and lawful Money : By which way of paying for our Commodities England loses near one third of the value of all the Commodities it thus sells . And 't is all one as if Foreigners paid for them in Money Coin'd and clip'd beyond Sea , wherein was one third less Silver than there ought to be . And thus we lose near one third in all our Exportation , whilst Foreign Gold Imported is received in Payment for Thirty Shillings a Guinea . To make this appear , we need but trace this way of Commerce a little , and there can be no doubt of the loss we suffer by it . Let us suppose , for Example , a Bale of Holland Linnen worth there , one hundred & eighty Ounces of our Standard Silver ; And a Bale of Serge here worth also the same weight of One hundred eighty Ounces of the same Standard Silver : 'T is evident , these two Bales are exactly of the same value . Mr. Lowndes tells us P. 88 That at this time the Gold that is in a Guinea ( if it were carried to Spain , Italy , Barbary and some other places , ) would not purchase so much Silver there , as is equal to the Standard of twenty of our Shillings , i. e. would be in value there to Silver scarce as one to fourteen and an half : And I think , I may say , that Gold in Holland is , or lately was , as one to fifteen , or not much above . Taking then Standard Gold in Holland to be in proportion to Standard Silver , as one to about fifteen , or a little more ; Twelve Ounces of our Standard Gold , or as much Gold as is in Forty-four Guineas and a half , must be given for that Bale of Holland-Linnen , if any one will pay for it there in Gold : But if he buys that Bale of Serge here for One hundred and eighty Ounces of Silver , which is Forty eight Pounds Sterling , if he pays for it in Gold at Thirty Shillings the Guinea , two and Thirty Guineas will pay for it . So that in all the Goods that we sell beyond Seas for Gold Imported , and Coin'd into Guineas , unless the Owners raise them ⅓ above what they would Sell them for in mill'd Money , we lose twelve in Forty four and an half , which is very near one third . This loss is wholly owing to the permitting clip'd Money in Payment . And this loss we must unavoidably suffer whilst clip'd Money is Current amongst us . And this robbing of England of near one third of the value of the Commodities we Sell out , will continue whilst People had rather receive Guineas at Thirty Shillings , than Silver Coin ( no other being to be had ) that is not worth half what they take it for . And yet this clip'd Money , as bad as it is , and however unwilling People are to be charged with it , will always have Credit enough to pass , whilst the Goldsmiths and Bankers receive it ; and they will always receive it , whilst they can pass it over again to the King with advantage , and can have hopes to prevail , that at last when it can be born no longer , but must be call'd in , no part of the loss of light Money , which shall be found in their hands shall fall upon them , though they have for many Years dealt in it , and by reason of its being clip'd have had all the running Cash of the Kingdom in their hands , and made profit of it . I say , clip'd Money , however had it be , will always pass whilst the King's Receivers , the Bankers of any kind , and at last the Exchequer takes it . For who will not receive clip'd Money , rather than have none for his necessary occasions , whilst he sees the great Receipt of the Exchequer admits it , and the Bank and Goldsmiths will take it of him , and give him Credit for it , so that he needs keep no more of it by him than he pleases . In this State , whilst the Exchequer receives clip'd Money , I do not see how it can be stop'd from passing . A clip'd Half-Crown that goes at the Exchequer , will not be refused by any one who has hopes by his own or others hands to convey it thither , and who , unless he take it , cannot Trade , or shall not be paid . Whilst therefore the Exchequer is open to clip'd Money , it will pass , and whilst clip'd Money passes , Clippers will certainly be at Work ; and what a gap this leaves to Foreigners , if they will make use of it to pour in clip'd Money upon us ( as its Neighbours did into Portugal ) as long as we have either Goods or weighty Money left to be carri'd away at fifty per Cent. or greater profit , its easie to see . I will suppose the King receives clip'd Money in the Exchequer , and at half or three quarters loss Coins it into mill'd Money . For if he receives all , how much soever clip'd , I suppose the Clippers Sheers are not so squemish as not to pare away above half . 'T will be a wonderful conscienciousness in them , no where , that I know , to be parallell'd , if they will content themselves with less profit than they can make , and will leave seven Penny worth of Silver in an Half-Crown , if six Penny worth and the Stamp be enough to make it pass for Half a Crown . When his Majesty hath Coin'd this into mill'd Money of Standard weight , and paid it out again to the Bankers , Goldsmiths or others , what shall then become of it ? Either they will lay it up to get rid of their clip'd Money , for no Body will part with heavy Money , whilst he has any light ; nor will any heavy Money come abroad whilst there is light left ; for whoever has clip'd Money by him , will sell good Bargains , or borrow at any Rate of those who are willing to part with any weighty , to keep that by him , rather than the clip'd Money he has in his hands . So that as far as this reaches , no mill'd Money , how much soever be Coin'd will appear abroad or if it does , will it long scape the Coiners and Clippers hands , who will be at work presently upon it to furnish the Exchequer with more clip'd Money at fifty , sixty , seventy , or I know not what advantage . Though this be enough to cut off the hopes of mill'd Money appearing in payments whilst any clip'd is current . Yet to this we may add , that Gold Imported at an over value will sweep it away as fast as it is Coin'd whilst clip'd Money keeps up the rate of Guineas above their former value . This will be the circulation of our Money , whilst clip'd is permitted any way to be Current . And if store enough of clip'd Money from at home or abroad , can be but provided ( as 't is more than probable it may now the Trade is so Universal , and has been so long practised with great advantege , and no great danger , as appears by the few have suffer'd in regard of the great number 't is evident are ingaged in the Trade , and the vent of it here in England is so known and sure ) I do not see how in a little while we shall have any Money or Goods at all left in England , if Clipping be not immediately stop'd . And how Clipping can be stop'd , but by an immediate positive total Prohibition , whereby all clip'd Money shall be forbid to pass in any Payment whatsoever , or to pass for more than its weight , I would be glad to learn. Clipping is the great Leak , which for some time past has contributed more to Sink us , than all the Force of our Enemies could do . 'T is like a Breach in the Sea-bank , which widens every moment till it be stop'd . And my timerous Temper must be pardon'd if I am frighted with the thoughts of clip'd Money being Current one moment longer , at any other value but of warrant'd Standard Bullion . And therefore there can be nothing more true and reasonable , nor that deserves better to be consider'd , than what Mr. Lowndes says in his Corollary P. 90. Whoever desires to know the different ways of Coining Money by the Hammer and by the Mill , may inform himself in the exact Account Mr. Lowndes has given of both , under his second general Head : Where he may also see the probablest guess that has been made of the quantity of our clip'd Money , and the Silver deficient in it ; and an Account of what Silver Money was Coin'd in the Reigns of Q. Elizabeth K. Iames 1st . and Charles 1st . more exact than is to be had any where else . There is only one thing which I shall mention , since Mr. Lowndes does it here again under this Head P. 100. and that is , melting down our Coin ; concerning which I shall venture humbly to propose these following Questions . 1. Whether Bullion be any thing but Silver , whose Workmanship has no value ? 2. Whether that Workmanship , which can be had for nothing , has , or can have any value ? 3. Whether , whilst the Money in our Mint is Coin'd for the Owners , without any cost to them , our Coin can ever have any value above Standard Bullion ? 4. Whether , whilst our Coin is not of value above Standard Bullion , Goldsmiths and others , who have need of Standard Silver , will not rather take what is by the Free labour of the Mint ready essaid and adjusted to their use , and melt that down , rather than be at the trouble of melting mixing and essaying of Silver for the uses they have ? 5. Whether the only cure for this wanton , though criminal melting down our Coin , be not , that the Owners should pay one Moiety of the Sixteen-pence Half-penny , which is paid per Pound Troy for Coinage of Silver , which the King now pays all ? 6. Whether by this means Standard Silver in Coin will not be more worth than Standard Silver in Bullion , and so be preserved from this wanton melting down , as soon as an overballance of our Trade shall bring as Silver to stay here ? for till then it is in vain to think of preserving our Coin from melting down , and therefore to no purpose till then to change that Law. 7. Whether any Laws , or any Penalties can keep our Coin from being carried out , when Debts contracted beyond Seas call for it ? 8. Whether it be any odds to England , whether it be carried out , melted down into Bullion , or in Specie ? 9. Whether , whilst the Exigences of our occasions and Trade call for it abroad , it will not always be melted down for the conveniency of Exportation , so long as the Law prohibits its Exportation in Specie ? 10. Whether Standard Silver in Coin and in Bullion , will not immediately be of the same value as soon as the Prohibition of carrying out Money in Specie is taken off ? 11. Whether an Ounce of Silver the more would be caried out in a Year , if that Prohibition were taken off ? 12. Whether Silver in our Coin will not always , during the Prohibition of its Exportation , be a little less worth than Silver in Bullion , whilst the Consumption of Foreign Commodities beyond what ours pay for , makes the Exportation of Silver necessary ? And so , during such a state , Raise your Money as much and as often as you will , Silver in the Coin will never fetch as much as the Silver in Bullion , as Mr. Lowndes expresses it , p. 110. As to the Inconveniencies and Damages we sustain by clip'd Money passing by Tale , as if it were Lawful , nothing can be more true , more judicious , nor more weighty , than what Mr. Lowndes says under his third General Head ; wherein I perfectly agree with him , excepting only where he builds any thing upon the proposed raising our Coin one fifth . And to what he says , p. 114 , concerning our being deprived of the use of our heavy Money , by mens hoarding it , in prospect that the Silver contained in those weghty pieces will turn more to their Profit , than lending it at Interest , Purchasing or Trading therewith . I crave leave to add , That those Hoarders of Money , a great many of them drive no less , but rather a greater Trade by hoarding the weighty Money , than if they let it go abroad . For , by that means all the current Cash being light , clip'd , and hazardous Money , 't is all tumbled into their Hands , which gives credit to their Bills , and furnishes them to trade for as much as they please , whilst every body else scarce Trades at all , ( but just as necessity forces ) and is ready to stand still . Where he says p. 114. 'T is not likely the weighty Moneys will soon appear abroad without raising their value and recoining the clip'd Moneys : I should agree with him , if it ran thus ; Without recoining the clip'd , and in the mean time making it go for its weight . For that will , I humbly conceive , bring out the heavy Money , without raising its value , as effectually and sooner ; for it will do it immediately : His will take up some time . And I fear , if clip'd Money be not stopt all at once , and presently from passing any way in Tale , the Damage it will bring will be irreparable . Mr. Lowndes 's Fourth General Head is , to propose the means that must be observed , and the proper methods to be used in , and for the Re establishment of the Silver Coins . The first is , That the Work should be finished in as little time as may be ; not only to obviate a farther Damage by clipping in the interim , but also that the needful advantages of the new Money may be the sooner obtained for the service of the Nation . These I agree with him , are very good and necessary Ends ; but they are both to be attain'd , I conceive , much sooner by making clip'd Money go for its weight , than by the Method Mr. Lowndes proposes . For this immediately puts an end to Clipping , and obviates all further Damage thereby . Next , it immediately brings out all the boarded weighty Money , and so that advantage will be sooner obtain'd for the service of the Nation , than it can any other way besides . Next it preserves the use of clip'd Money for the Service of the Nation in the interim , till it can be Re-coin'd all at the Tower. His Second Proposition is , That the loss , or the greatest part of it , ought to be born by the Publick , and not by particulars , who being very numerous will be prejudiced against a Reformation for the publick benefit , if it be to be effected at the cost of particular Men. A Tax given to make good the defect of Silver in clip'd Money , will be paid by particulars , and so the loss will be born by particular men : And whether these particulars be not more numerous , or at least a greater number of innocent men of them more sensibly burden'd that way , than if it takes its chance in the hands of those men , who have profited by the having it in their hands , will be worth considering . And I wish it were well weigh'd , which of the two ways the greater number of men would be most dangerously prejudic'd against this Reformation . But as Mr. Lowndes orders the matter , every Body will I fear be prejudic'd against this Reformation , when ( as he divides it p. 133 , 134. ) the Owners will bear near one half of the loss in the price of his clip'd Money , and every Body else his part of the remainder in a Tax levied on them for it . I wish a remedy could be found without any Bodies loss . Most of those ways I have heard proposed to make Reparation to every particular man for the clip'd Money shall be found in his hands , do so delay the remedy , if not entail Clipping upon us , that I fear such a care of particulars indangers the whole . And if that suffer , it will go but ill with particulars . And therefore I think it will be the Rational desire of all particulars , that the shortest and surest way , not interfering with Law or Equity , should be taken to put an effectual end , to an Evil , which every moment it continues works powerfully toward a general ruin . His Fourth Proposition is , that no room must be left for Ielousie ; I acknowledg to be a good one , if there can be a way found to attain it . I cannot but wonder to find these words P. 124 That no person whatsoever shall hereafter be oblig'd to accept in legal Payments any Money whatsoever , that is already clip'd or may hereafter be clip'd or diminish'd ; and that no Person shall tender or receive any such Money in Payment , under some small Penalty to be made easily recoverable , &c. As if any man now were obliged to receive clip'd Money in legal Payment , and there were not already a Law with severe Penalties against those who tendered clip'd Money in Payment ? 'T is a doubt to me , whether the Warden , Master-worker , &c. of the Mint at the Tower , could find Fit and Skilful Persons enough to set nine other Mints at work in other parts of England in a quarter of a Year , as Mr. Lowndes proposes P. 127. Besides , Mr. Lowndes tells us P. 96 that the Engines which put the Letters upon the Edges of the larger Silver Pieces , and mark the Edges of the rest with a Graining , are wrought secretly . And indeed this is so great a Guard against Counterfeiting as well as Clipping our Money , that it deserves well to be kept a Secret , as it has been hitherto . But how that can be , if Money be to be Coin'd in nine other Mints , set up in several Parts , is hard to conceive . And lastly , perhaps some may apprehend it may be of ill consequence to have so many men instructed and employ'd in the Art of Coining , only for a short job , and then turn'd loose again to shift for themselves by their own skill and industry , as they can . The Provision made in his fourth Rule , p. 136. to prevent the Gain of subtile Dealers by culling out the heaviest of the clip'd pieces , though it be the Product of great Sagacity and Foresight , exactly calculated , and as well contrived as in that case it can be ; yet I fear is too subtile for the Apprehension and Practice of Country Men , who , many of them , with their little Quickness in such matters , have also but small Summs of Money by them , and so neither having Arithmetick , nor Choice of clip'd Money to adjust it to the Weight there required , will be hardly made to understand it . But I think the Clippers have , or will take care that there will not be any great need of it . To conclude , I confess my self not to see the least Reason why our present mill'd Money should be at all altered in Fineness , Weight , or Value . I look upon it to be the best and safest from counterfeiting , adulterating , or any ways being fraudently diminished , of any that ever was coined . It is adjusted to our legal Payments , Reckonings , and Accounts , to which our Money must be reduced : The raising its Denomination will neither add to its Worth , nor make the Stock we have , more proportionate to our Occasions , nor bring one Grain of Silver the more into England , or one Farthing Advantage to the publick : It will only serve to defraud the King , and a great Number of his Subjects , and perplex all , and put the Kingdom to a needless Charge of recoining all , both mill'd as well as clip'd Money . If I might take upon me to offer any thing new , I would humbly propose , that since Market and retail Trade requires less Divisions than six pences , a sufficient Quantity of Four penny , Four pence half penny , and Five penny Pieces should be coined . These in change will answer all the Fractions between Six pence and a Farthing , and thereby supply the Want of small Monies , whereof I believe no body ever saw enough common to answer the Necessity of small Payments ; whether , either because there was never a sufficient Quantity of such pieces coined , or whether because of their Smallness they are apter to be lost out of any Hands , or because they oftner falling into Childrens Hands , they lose them , or lay them up ; so it is , there is always a visible Want of them , to supply which without the Inconveniencies attending very small Coin , the proposed pieces , I humbly conceive , will serve . If it be thought fit for this end to have Four pence , Four pence half penny , and Five penny pieces coined , it will , I suppose , be convenient that they should be distinguished from six pences , and from one another , by a deep and very large plain Difference in the Stamp on both sides , to prevent Mistakes , and Loss of Time in telling of Money . The Four pence half penny , has already the Harp for a known Distinction , which may be fit to be continued : The Five pence may have the Feathers , and the Four pence this Mark IV. of four on the Reverse , and on the other side they may each have the King's Head with a Crown on it , to shew on that side too , that the Piece so coined is one of those under a Six pence ; and with that they may each on that side also have some Marks of Distinction one from another , as the Five penny piece this Mark of V. the Four pence half penny a little Harp , and the Four pence nothing . These , or any other better Distinctions , which his Majesty shall order , will in Tale readily discover them , if by chance any of them fall into larger Payments , for which they are not designed . And thus I have , with as much Brevity and Clearness as I could , complied with what Mr. Lowndes professes to be the end of printing his Report in these Words , viz. That any Persons who have considered an Affair of this nature , may ( if they please ) communicate their Thoughts for rendring the Design here aimed at , more perfect , or more agreeable to the publick Service . It must be confessed that my Considerations have led me to Thoughts in some Parts of this Affair , quite opposite to Mr. Lowndes's : But how far this has been from any Desire to oppose him , or to have a Dispute with a Man , no otherwise known to me but by his Civilities , and whom I have a very great esteem for , will appear by what I printed about raising the Value of Money , above three Years since . All that I have said here in answer to him , being nothing but the applying the Principles , I then went on , particularly now to Mr. Lowndes's Arguments , as they came in my way ; that so thereby others might judge what will , or will not be the Consequences of such a Change of our Coin , as he proposes , the only way , I think , of rendring his Design more agreeable to the publick Services FINIS . ERRATA . PAge 2. l. 23. same qualities . p. 4. l. 23. or Sellers ' p. 10. l. 15. already . p. 27. l. 3. Wampompeak ' p. 28. l. 10. the exact . p. 32. l. 4. for that raising . l. 5. that lessening . p. 31. ult . Coin. p. 63. l. 4. at above . l. 23. for all . p. 64. l. 23. will not . p. 57. l. 13. or at most a peny in . p. 58. l. 3. above a peny an . l. 25. about a peny in . p. 65. l. 6. larger . p. 74. l. 29. to raise it higher to make . p. 77. l. 7. have it . Notes, typically marginal, from the original text Notes for div A48882-e1630 * Vid. short Observations on a Paper entituled , For incouraging coining , &c. p. 8. 
A83303	----	Die Lunæ 6 Septemb. 1647. An ordinance or the Lords and Commons assembled in Parliament, that from henceforth no moneys clipt, filed, or deminished, shall be payable, or received in payment within this kingdom. England and Wales. Parliament. This text is an enriched version of the TCP digital transcription A83303 of text R221657 in the English Short Title Catalog (Thomason 669.f.11[75]). Textual changes and metadata enrichments aim at making the text more computationally tractable, easier to read, and suitable for network-based collaborative curation by amateur and professional end users from many walks of life. The text has been tokenized and linguistically annotated with MorphAdorner. The annotation includes standard spellings that support the display of a text in a standardized format that preserves archaic forms ('loveth', 'seekest'). Textual changes aim at restoring the text the author or stationer meant to publish. This text has not been fully proofread Approx. 3 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. EarlyPrint Project Evanston,IL, Notre Dame, IN, St. Louis, MO 2017 A83303 Wing E2085 Thomason 669.f.11[75] ESTC R221657 99871629 99871629 162727 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A83303) Transcribed from: (Early English Books Online ; image set 162727) Images scanned from microfilm: (Thomason Tracts ; 246:669f11[75]) Die Lunæ 6 Septemb. 1647. An ordinance or the Lords and Commons assembled in Parliament, that from henceforth no moneys clipt, filed, or deminished, shall be payable, or received in payment within this kingdom. England and Wales. Parliament. England and Wales. 1 sheet ([1] p.) for John Wright at the Kings Head in the Old Baily, Printed at London : 1647. No diminished money shall be current, but be treated as bullion. Worn coin is still tender -- Cf. Steele. Order to print signed: Jo. Browne Cler. Parliamentorum. Reproduction of the original in the British Library. eng Coinage -- England -- Early works to 1800. Counterfeits and counterfeiting -- England -- Early works to 1800. Money -- England -- Early works to 1800. Great Britain -- Politics and government -- 1642-1649 -- Early works to 1800. A83303 R221657 (Thomason 669.f.11[75]). civilwar no Die Lunæ 6 Septemb. 1647. An ordinance of the Lords and Commons assembled in Parliament, that from henceforth no moneys clipt, filed, or dem England and Wales. Parliament. 1647 390 0 0 0 0 0 0 0 A This text has no known defects that were recorded as gap elements at the time of transcription. 2007-10 TCP Assigned for keying and markup 2007-10 Apex CoVantage Keyed and coded from ProQuest page images 2007-12 Mona Logarbo Sampled and proofread 2007-12 Mona Logarbo Text and markup reviewed and edited 2008-02 pfs Batch review (QC) and XML conversion Die Lunae 6 Septemb. 1647. An Ordinance of the Lords and Commons Assembled in Parliament , That from henceforth no Moneys clipt , filed , or deminished , shall be payable , or received in payment within this Kingdom . FOr as much as during these distractions great sums of Moneys clipped and unlawfully diminished , have beene dispersed and given out amongst the people thorowout the Kingdome ; for the speedy suppression thereof and prevention of the like in the future , Be it Ordained by the Lords and Commons in Parliament assembled , That from henceforth no Money diminished by clipping or filing shall be currant or payable in this Kingdome , or be offered in payment , or received as due payment by any person whatsoever , but be esteemed as Bullion , and no otherwise . And to the end that such Moneys as are by this present Ordinance declared to be uncurrant , may not for the present become unusefull unto such as live in remote parts of the Kingdome , and cannot sell them but at under rates ; Be it Ordained , That for three Moneths after the date hereof , the said clipt Money shall be allowed of in payment , at foure shillings ten pence per ounce for Goldsmiths weight , which is troy weight , or foure shillings foure pence half penny the ounce avordupoyz , which is the common weight . And all persons may hereby take notice , that such clipped money will yeeld in London foure shillings and eleven pence per ounce for Goldsmiths weight , and foure shilings five pence halfpenny per ounce for avordupoyz waight at the least . Provided neverthelesse that it is not hereby intended that any old Moneys , which are apparent not to be clipt , or otherwise unlawfully diminished , but onely growne light through waring and wasting , by long passing from hand to hand , shall be included within this Order , but shall still be currant without dispute as formerly . Die Lunae 6 Septemb. 1647. ORdered by the Lords Assembled in Parliament , That this Ordinance be forthwith printed and published . Jo. Brown Cler. Parliamentorum . Printed at London for John Wright at the Kings Head in the Old Baily . 1647. 
A92662	----	A proclamation anent the mint, and declaring Spanish ryals current, at fifty six shilling Scots Proclamations. 1683-07-04 Scotland. Privy Council. 1683 Approx. 3 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2008-09 (EEBO-TCP Phase 1). A92662 Wing S1672 ESTC R230227 99899463 99899463 153561 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A92662) Transcribed from: (Early English Books Online ; image set 153561) Images scanned from microfilm: (Early English books, 1641-1700 ; 2370:26) A proclamation anent the mint, and declaring Spanish ryals current, at fifty six shilling Scots Proclamations. 1683-07-04 Scotland. Privy Council. Charles II, King of England, 1630-1685. 1 sheet ([1] p.) printed by the heir of Andrew Anderson, printer to His most sacred Majesty, Edinburgh : anno Dom. 1683. Dated at end: Edinburgh the fourth day of July, 1683. and of Our Reign the 35th year. Arms 234; Steele notation: France, several Our. Reproduction of original in the Folger Shakespeare Library, Washington, D.C.. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Scotland -- Early works to 1800. Coins, Foreign -- Early works to 1800. Broadsides -- Scotland 2007-07 TCP Assigned for keying and markup 2007-07 Aptara Keyed and coded from ProQuest page images 2007-08 Mona Logarbo Sampled and proofread 2007-08 Mona Logarbo Text and markup reviewed and edited 2008-02 pfs Batch review (QC) and XML conversion C R royal blazon or coat of arms A PROCLAMATION Anent the Mint , and declaring Spanish Ryals current , at fifty six shilling Scots . CHARLES by the Grace of God , King of great Britain , France , and Ireland , Defender of the Faith , to Our Lovits Macers of Our Privy Council , Messengers at Armes , Our Sheriffs in that part , conjunctly and severally , specially constitute , Greeting ; whereas several abusses are creep'd into the Mint of this Our ancient Kingdom , which necessarly requires Amendements , for securing the Fynness , and Weight of Our Coyn , and Reducing it again to its state and condition appointed by Our Laws , and Acts of Parliament : and since several Difficulties do occur herein , which can best be remeeded by Vs , with advice of Our Parliament . We therefore , with Advice of Our Privy Council , Have thought fit to stop all Coynage in this Our Kingdom , until the first Meeting of Our Parliament : and in the mean time , We Require and Command all persons lyable in payment of Bullion , to pay in the same as formerly , to Our Thesaurer , or Thesaurer Depute , or any who shall be appointed by them to Receive in the same : And further it is Our Will and Pleasure , that all Spainish Ryals , being of the Weight of fourteen drop shall be current within this Our Kingdom , at Fifty six shilling Scots each Ryal , until We declare Our further Pleasure : and to the effect all Our Subjects may have notice hereof . Our Will is , and We Charge you strictly , and Command , that incontinent these Our Letters seen , ye passe to the Mercat Crosse of Edinburgh , and Mercat Crosses of the several Head Burghs of this Our Kingdom , and other places needful ; and thereat by open Proclamation , make publication of the premisses , that obedience may be given thereto accordingly . Given under our Signet at Edinburgh the Fourth day of July , 1683. and of Our Reign the 35th year . Per actum Dominorum Secreti Concilij . WILL. PATERSON Cls. Sti. Concilij . God save the King. Edinburgh Printed by the Heir of Andrew Anderson , Printer to His most Sacred Majesty . Anno Dom. 1683. 
B03007	----	Proclamation anent fourty-penny-pieces. Edinburgh 20. September 1699. Edinburgh (Scotland). Town Council. 1699 Approx. 2 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). B03007 Wing E164G ESTC R225817 52528803 ocm 52528803 178771 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B03007) Transcribed from: (Early English Books Online ; image set 178771) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2770:10) Proclamation anent fourty-penny-pieces. Edinburgh 20. September 1699. Edinburgh (Scotland). Town Council. Home, George, Sir, of Kello. 1 sheet ([1] p.) Printed by the heirs and successors of Andrew Anderson, printer to the Kings most excellent Majesty, city and colledge, Edinburgh : 1699. Caption title. Signed: George Home. Arms of the city of Edinburgh at head of text. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Scotland -- Early works to 1800. Legal tender -- Scotland -- Early works to 1800. 2008-05 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-10 John Pas Sampled and proofread 2008-10 John Pas Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion PROCLAMATION Anent Fourty-Penny-Pieces . Edinburgh 20. September 1699. FOrasmuch as by Proclamation of the Lords of His Majesties Privy Council of the date the 9th December 1697 , All the Leidges are Required and Commanded to Pass and Receive in Payments of all Sorts the Fourty-Penny-Pieces , of the Coyn and Mint of this Kingdom , at three shilling six pennies Scots Money , how Bare soever and worne by Use the samen be , if the Print and Vestige of the Coyn of this Kingdom be visible upon them , and thereby , discharged any of the Leidges to refuse the saids Scots Fourty-penny-pieces at the Rate of three shilling six pennies , under the pain of being lyable to pay the double of what they refuse to the Party who offered the same to be decerned immediatly without any Process , and exacted from the Refuser by any Magistrat within this Kingdom , in favours and to the behove of them from whom any of the saids Fourty-penny-pieces are refused : And the Lord Provost , Baillies and Council of this City being resolved to see the said Act of Privy Council inviolably observed within the samen , and Priviledges thereof . These are therefore , In His Majesties Name and Authority , and in Name and Authority of the Right Honourable the Lord Provost , Baillies and Council of this City , Commanding & Requiring all His Majesties Liedges within the samen , and Priviledges thereof , to Pass and Receive in payments of all Sorts the saids Fourty-pennie-pieces at the rate foresaid , in the Terms and under the pains contained in the foresaid proclamation . And ordains thir presents to be published as use is , and printed , that none may pretend Ignorance . Extracted by GEORGE HOME GOD Save the King Edinburgh , printed by the Heirs and Successors of Andrew Anderson , printer to the Kings most Excellent Majesty , City and Colledge 1699. 
B05300	----	Act anent the half ducatdouns and old Scots merk-pieces. July 25. 1695. Scotland. Privy Council. 1695 Approx. 2 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). B05300 Wing S1396 ESTC R182972 52528897 ocm 52528897 178917 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B05300) Transcribed from: (Early English Books Online ; image set 178917) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2774:56) Act anent the half ducatdouns and old Scots merk-pieces. July 25. 1695. Scotland. Privy Council. 1 sheet ([1] p.) Printed by the heirs and successors of Andrew Anderson, Printer to his most excellent Majesty, Edinburgh : 1695. Caption title. Initial letter. Signed: Gilb. Eliot. Cls. Sti. Concilii. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. 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Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Scotland -- Early works to 1800. Finance, Public -- Law and legislation -- Scotland -- Early works to 1800. Broadsides -- Scotland -- 17th century. 2008-10 TCP Assigned for keying and markup 2008-12 SPi Global Keyed and coded from ProQuest page images 2009-01 Megan Marion Sampled and proofread 2009-01 Megan Marion Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion ACT Anent the Half Ducatdouns and Old Scots Merk-pieces . July 25. 1695. FORASMVCH as , by a Proclamation of the Date the twelfth Day of July Currant ; the Rate of the Ducatdouns was Raised to Three Pound Fourteen shilling , and the Scots Four Merk-piece , and sundry other Species of Money , with their Halfs and Quarters Proportionally , were Declared and Ordained to be Currant at the Rates therein-mentioned , and all Persons obliged to Receive the same in all Payments whatsomever , at the said Value , as the Currant Coyn of this Kingdom ; And seing sundry of His Majesties Leidges , either through Ignorance , or Mistake , do scruple and demur to receive the Half Ducatdouns at the proportional Value foresaid ; and the old Scots Merk-pieces at the Value and Rate of the Quarter-pieces of the Scots four Merk-piece , whereby many of the Meaner sort of People are thereby Prejudged : And the Obedience due to His Majesties Commands and Intention , for having the said old Merks Currant , at the Rate and Value of the Quarter-pieces of the said four Merk neglected : Therefore the Lords of His Majesties Privy Council , Declare the half Ducatdouns to be Currant at the Value of One Pound seventeen shilling Scots ; & the old Scots Merks , to be Currant at the Value of the Quarter of the Scots four Merk-pieces ; and Ordains the same to be Received in all payments accordingly , & that Conform to the foresaid Proclamation in all Points . And Ordains thir Presents to be Printed and Published at the Mercat-Cross of Edinburgh , and other places needfull . GILB . ELIOT . Cls. Sti. Concilii . GOD save the King. Edinburgh , Printed by the Heirs and Successors of Andrew Anderson , Printer to His most Excellent Majesty , 1695. 
A49333	----	A report containing an essay for the amendment of the silver coins Lowndes, William, 1652-1724. 1695 Approx. 166 KB of XML-encoded text transcribed from 82 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2003-01 (EEBO-TCP Phase 1). A49333 Wing L3323 ESTC R39081 18211567 ocm 18211567 107149 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A49333) Transcribed from: (Early English Books Online ; image set 107149) Images scanned from microfilm: (Early English books, 1641-1700 ; 1127:19) A report containing an essay for the amendment of the silver coins Lowndes, William, 1652-1724. 159, [1] p. Printed by Charles Bill, and the executrix of Thomas Newcomb..., London : 1695. Attributed to Lowndes by Wing and NUC pre-1956 imprints. Running title: An essay for the amendment of silver coins. Reproduction of original in the Bodleian Library. Includes bibliographical references. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- England -- Early works to 1800. Money. 2002-01 TCP Assigned for keying and markup 2002-02 SPi Global Keyed and coded from ProQuest page images 2002-03 TCP Staff (Oxford) Sampled and proofread 2002-03 Judith Siefring Text and markup reviewed and edited 2002-04 pfs Batch review (QC) and XML conversion A REPORT Containing an ESSAY FOR THE Amendment OF THE Silver Coins . LONDON , Printed by Charles Bill , and the Executrix of Thomas Newcomb , deceas'd ; Printers to the Kings most Excellent Majesty . 1695. To the Right Honourable the Lords Commissioners of His Majesties Treasury . May it please your Lordships , IN Obedience to your Lordships Command , I have endeavoured to inform my self of divers Matters which concern the Gold and Silver Moneys , and of the most Practicable Methods for New Coining the Latter , and Supplying , in the mean time , sufficient Coins to pay the Kings Taxes and Revenues , and to carry on the Publick Commerce ; and I do humbly represent to your Lordships , That I have made diligent Search into several Records , Books and Writings , to see what Acts or Things have been formerly done or practised , which might serve for Precedents , or give any Light for the Re-establishment of the Coins that should now go , and have Course as the Lawful Money of the Kingdom . It is true ( as I find in a Book of great Authority , remaining in the Exchequer , called The Black Book , written by Gervase of Tilbury , in the time of Henry the Second ) that there were anciently Falsifiers and Clippers of Money ; for when King William the First , for the better pay of his Warriours , caused the Firmes , which till his time , had for the most part been answered in Victuals , to be converted in Pecuniam Numeratam , he directed the whole from every County to be Charged on the Sheriff , to be by him brought into the Exchequer ; adding , That the Sheriff should make the Payment , ad Scalam , hoc est ( as the aforesaid Author expounds it ) solveret preter quamlibet numeratam libram sex denarios ; and the Money afterwards declining , and becoming worse , it was Ordained , That the Firmes of Manors should not only be paid ad Scalam , but also ad Pensam , which latter was the paying as much Money for a Pound Sterling , as weighed Twelve Ounces Troy ; so that Payment of a Pound de Numero imported Twenty Shillings , ad Scalam imported Twenty Shillings Six Pence , and ad Pensam imported so much as weighed Twelve Ounces . And in the time of King Henry the Second , when the Bishop of Salisbury was Treasurer , who considered , that though the Money did Answer Numero & Pondere , it might nevertheless be mixt with Copper or Brass ; therefore ( Consilio Regis & ut Regiae simul & Publicae Provideretur Vtilitati ) a Constitution was made , called the Trial by Combustion . The whole Progress whereof , as it was practised in the Exchequer in those Days , is exactly set down in the said Book , and differs little or nothing from the present method of Assaying Silver for its Fineness ; as plainly appears in that place where the said Gervase treats of the Office of the Miles Argentarius , and that of the Fusor , an Extract whereof is hereunto Annexed . It appears also that the Crown Rents were many times reserved in Libris Albis or Blanch Firmes ; in which case the Payer was holden Dealbare Firmam , that is , His Base Money or Coin worse than Standard was Molten down in the Exchequer , and Reduced to the Fineness of Standard Silver , or ( instead thereof ) he Paid to the King Twelve Pence to the Pound by way of Addition . But the most Remarkable Deceipts and Corruptions found in Ancient Records to have been committed upon the Coins of the Kingdom , by Offenders , were in the time of King Edward the First , when there was Imported a sort of Light Money made with a Mitre ; another sort of Light Money with Lyons upon it ; a Third sort of Copper Blancht , to Resemble the Money of England ; a Fourth sort of Light Money Resembling that of King Edward ; a Fifth kind that was Plated : And the Crime of Rounding Money ( which I take to be the same with Clipping ) was then in Fashion , all which was done out of England . And the Merchants to avoid the Search at Dover and Sandwich , concealed the Parcels in Bails of Cloth , and brought them in by other Ports . Les queux choses si elles suissent longent so efferts ( says the Book ) elles mettere yent la Monye D'englitere a nient : And the Chief Remedies then Applied were , First , To Cry down all Money that was not of England , Ireland or Scotland : Secondly , That such as arrived from beyond Seas , should shew the Money they brought with them to the King's Officers : Thirdly , And not hide it in Fardels , upon Pain of Forfeiture : Fourthly , That the Light Money and the Clipt Money might be Bored through without contradiction : Fifthly , And that the same should be Received and Paid by Weight at a certain Rate ; and that the Persons having such Clipt or Light Money , should bring the same to the King's Changers , who were settled in several great Towns in the Kingdom , to be new Coined . And by what I have Read in Libro Rubeo ( which is in the upper Exchequer ) concerning the Changers ( who , as well as the Masters of the Mint , had several Offices Erected in divers Parts of the Kingdom ; Namely , at London , Canterbury , Bristol , Kingston upon Hull , Newcastle and Exeter ) a Principal Business of these Changers was to Buy in the Silver of the Bad Money ; que les Pollards & Crockards & les autres Mauvaises Moneis Contrefaits Soront , abatues : And there was a Writ then directed to the Sheriffs , to Prohibit the Importation of Clipt or Counterfeit Moneys , and the Use thereof in Merchandizing or Negotiating , under severe Penalties , and Commanding those that had such Money to Bore it through , and to bring it to the King's Change to be new Coined . And I find by an Indenture in the Third Year of Queen Elizabeth ( at which time there was Base Moneys that had been Coined by Publick Authority . ) That it was Ordained that Fleetwood , Under Treasurer for the Upper Houses of the Mint in the Tower , should take in by Number and Tale , the Base Moneys therein mentioned , at such Rates or Values as were Appointed by a Proclamation in that behalf ; giving Bills to the Parties under his Hand for the Receipt thereof . And the Officers of the Mint were to Melt down and Repay the same in Sterling Moneys , to the Parties or their Deputies , shewing and delivering their Bills , having regard to the time when every Man brought in his Money . And the Base Money Received , and the Sterling Money Repaid were to be Entred in Two Legers ; one to be kept by the said Under-Treasurer , and the other by the Tellers . And the Comptroller and Assay-Master were to keep several Books of Refining and Melting the Base Money , to the intent they might be Vouchers to the said Under-Treasurer , who was to Account to the Queen for the whole . These or such like Provisions might serve well enough in those Times , when there was not much Money , and but little Trade or Occasion for it , and when the Species then in being , which one would think consisted Anciently of Pence or Pieces of small Denomination , were not Corrupted or Diminished to that degree as they are at this day . But considering the present low Condition to which Our Moneys are almost generally Reduced , and the necessary Use thereof in daily Occasions , and particularly in the ways of Trade , upon which this Nation depends more at this time than it did formerly ; I do not see how the Prudence of our Ancestors ( which in many Constitutions relating to the Exchequer and the Mint , appears to have been Transcendent and Admirable , especially in Matters of Charge and Discharge , and preventing Frauds and Abuses upon the Crown ) can , without the devising new or additional Means and Methods , be made Applicable to a present Work of new Coining the Silver Moneys , and Supplying Currant Coins for the Commerce , and for the Payment of Taxes and Revenues in the mean time . If therefore the King ( to whose Regality the Power of Coining Money , and Determining the Weight , Fineness , Denomination and Extrinsick Value thereof doth Solely and Inherently Appertain ) shall Judge it necessary to have the old or present Species of Silver Coins , or so much thereof as hath been Clipt or otherwise Dimnished , to be Melted down and Recoined , I humbly conceive new Means and Methods for doing the same must be Devised . And in Regard Money ( which some Lawyers have called Firmamentum Belli & Ornamentum Pacis ) is most certainly of the greatest Importance to His Majesty , in supplying the Taxes , Revenues and Loans , for Carrying on the War , and Supporting His Royal Estate ; as also to His Subjects , with relation not only to their Trade and Commerce , but also to all other ordinary Means of Livelihood : The said Means and Methods for Re-establishing the Coins , and the many weighty things depending thereupon , ought to be well Excogitated , and to be Considered and Adjusted by Persons of the greatest Judgment and Sagacity ; and ( if I had not been Enjoyned by your Lordships ) I should scarce have Adventured upon a Subject so very Difficult and Curious . I have Imployed my Thoughts chiefly upon such Matters as are Reduceable to the following Heads , viz. First , Concerning the Standard of the Gold and Silver Coins , and the Establishment of a Iust and Reasonable Foot for the Course of the same . Second , Concerning the Present State and Condition of the Gold and Silver Coins . Third , Whether it be or be not Absolutely necessary at this Time to Re-establish the same . Fourth , The Proposing of Means that must be Obtained , and the Proper Methods to be used in and for the Amendment of the Silver Moneys . Fifth , To Consider what must Supply the Commerce , Pay Taxes , &c. Whilst the Clipt Money is under its New Fabrication . As to the Particulars . First , Of the Standard . This properly brings under Consideration Two matters relating to the Coins ; namely , the Degree of Fineness , and the Weight of the Pieces . In treating upon which I shall humbly take leave to observe this Method . First , To explain what is meant by Sterling Moneys . Secondly , To set down Historically the Proportions of Fine Gold , and Fine Silver , with the respective Allays , which the Masters or Workers of the Mints have been holden to Observe in the Fabrication of the Moneys of this Realm , by their respective Indentures which I have found out , Beginning with those in the time of King Edward the Third , ( the farthest Extant ) and Ending with the Indenture of the Mint now in being . Thirdly , To propose the Standard of Fineness , which ( in my humble Opinion ) ought to be continued for the new Coins , which His Majesty may be pleased to direct at this time , with my Reasons for the same , to be deduced from the Experience of former times , and an Impartial regard to present Circumstances . Fourthly , To set forth how the Value of the Gold and Silver in our English Coins hath been Raised from time to time , which considers the Weight and Number of Pieces in a Pound Troy. Fifthly , To Offer my humble Opinion upon that Subject , in reference as well to the Old Coins now in being and Unclipt , as also to the New Moneys , which may be directed to be made , as aforesaid , together with my Reasons for the same , to be also Grounded upon the Experience of former Times , and a due Consideration of present Circumstances : All or most of which Points being of great Moment , to be well weighed in this Affair , I do humbly pray your Lordships that I may Discuss them severally . First , It is believed by some Authors , ( and not without Reason ) that in the most Ancient times , when Money was first Coined within this Island , it was made of * Pure Gold and Silver , like the Moneys now Currant in some other Nations , particularly in Hungary and Barbary , where they have Pieces of Gold called Ducats and Sultanesses ; and in the Kingdom of Industan , where they have Pieces of Silver called Rupees , which I have seen , and wherein ( as I am inform'd ) there is little or no Allay : And that afterwards it being found convenient in the Fabrication of the Moneys , to have a certain Quantity or Proportion of Baser Metal to be mixt with the Pure Gold and Silver , the Word Sterling was introduced , and hath ever since been used , to denote the certain Proportion or Degree of Fineness , which ought to be retained in the respective Coins composed of such mixture , as aforesaid . There are some Authors that fancy this Word Sterling took its Name from a Castle in Scotland , as if it were first Coined there . Some have derived it from a Star or Astracism , which they imagine to have been Impressed thereupon . There are those that fetch it from the Name of an Ancient Indenture or Bond which was taken by the Jews ( those old Userers ) for Security of their Debts , and which was called the Iews Star. But others think it comes from the Name of a People called Easterlings , as the first Workers of it in England . Of which latter Opinion is the Author of a very old Treatise concerning Money , Entred at large in the Red Book abovesaid , in the time of King Edward the Third . For my own Part , I do not believe the Word Sterling ( denoting the degree of Fineness or Goodness , as aforesaid ) was known in the time of the Conqueror , in regard there is no mention thereof in Libro Iudiciario or the Dooms-day Book , which Valueth every Manor ( as it was worth in the times of the Confessor and Conqueror respectively ) in Money ad Numerum , or ad Pensam or ad Pondus , but not in Sterling Money , and yet the Denomination of Sterling was soon after introduced , because the Statute of the Twenty fifth of Edward the Third refers to Ancient Sterling , and so do the Old Indentures of the Mint , and the Ancient Entries concerning Money . By reading of which it seems evident to me , First , That a Sterling or Easterling , in a restrained Sence , signified nothing but a Silver Peny , which at first was about three times as heavy as a Peny is now , and was once called a Lundress , because it was to be Coined only at London , and not at the Countrey Mints . Secondly , That the Words Sterling and Standard are Synonimous Terms . Thirdly , That the Ancient Sterling of England , mentioned in the said Statute , and the Standard and Allay of Old Easterling , mentioned in the Indenture , Le 20 jour de May l' an du Regne Edward III. cestassavoir d' Engletere quarant sisme & de France trent tierce entre le Roy & Bardet de Malepilys de Florence ; and the Old right Standard of England , which I find in other Indentures of the Mint , are to be understood thus : A Pound Weight Troy of Gold was divided into Twenty four Carats , and every Carat into Four Grains of Gold ; and a Pound Weight of the Old Sterling , or Right Standard Gold of England , consisted of Twenty three Carats and Three Grains and an half of Fine Gold , and half a Grain of Allay . Which Allay ( as the Red Book says ) might be Silver or Copper . Again , a Pound Weight Troy of Silver , was then ( as it has been ever since ) divided into Twelve Ounces , every Ounce into Twenty Peny Weight , and every Peny Weight into Twenty four Grains ; every Grain of Silver was called a Subtile Grain , Sixty of which were equal to One Grain of Gold , and a Pound Weight of Old Sterling , or Right Standard Silver of England , consisted then ( as it does now ) of Eleven Ounces and Two Peny Weight of Fine Silver , and Eighteen Peny Weight Allay . Fourthly , That Sterling Money generally in Judgment of Law , upon the Fines , Covenants , and other Instruments that have had occasion to refer thereunto , hath always imported , and doth still import only such Coins of Gold or Silver , as have been made by successive Masters and Workers of the Mint , in certain Proportions of Fine Metal , mixt with Allays , according to their respective Indentures or Covenants with the Crown , from time to time , and made Currant by the same Indentures , or by Proclamations or Commands of the Sovereign : Which Proportions of Fineness and Allay , have differed from time to time . And ( having thus Expounded what is meant by Sterling and Old Sterling ) those Differences will come properly to be Considered . Second , In the next Place therefore , I am to set down Historically the Proportions of Fine Gold and Fine Silver , with the respective Allays , which the Masters or Workers of the Mint have been holden to observe in the Fabrication of the Moneys , by their respective Indentures : Of which there is one mentioned in the Red Book , to bear Date in the Eighteenth Year of King Edward the First , who sent for Workmen from beyond Sea , to inform him of the manner of Making and Forging of Money ; but not finding any Indenture by which one can judge certainly of the said Proportions , till the Reign of Edward the Third ; from whose time the several Indentures of the Mint , or most of them , are in the Receipt of the Exchequer , in Custody of your Lordships and the Chamberlains there , and where I have had the Opportunity carefully to Inspect and Examine the same . I shall therefore humbly take leave to begin with these , and Proceed in the Order following . The Standard for the Gold Coins was the Old Standard , or Sterling of Twenty three Carats , Three Grains and Half Fine , and Half a Grain Allay . And the Standard for the Silver Coins was the Old Sterling of Eleven Ounces Two Peny Weight Fine , and Eighteen Peny Weight Allay . 20 E. 3. 23. 27. 30. 46. 18 R. 2. 3 H. 4. 9 H. 5. 1 H. 6. 4. 24. 49. 5 E. 4. 11. 16. 1 R. 3. 29 H. 7. All these imported the same Standard , as above , both for Gold and Silver . Ralph Rowlett and Martin Bowes , Masters and Workers , Covenanted to make Two sorts of Gold Coins ; to wit , Sovereigns , Rialls , Angels , George-Nobles , and Half-Angels of the said Old Standard , and Crowns of the Double Rose , and Half-Crowns to be Twenty two Carats Fine , and Two Carats Allay ; and Silver Moneys , to wit , Groats , Half-Groats , Sterlings , Half-pence and Farthings of the Old Sterling . Another Indenture to the same Effect . The said Ralph Rowlett and Martin Bowes , Masters and Workers , Covenanted to make the Sovereigns , Half-Sovereigns , Angels , Angellets , and Quarter-Angels of Twenty three Carats Fine Gold , and One Carat Allay ; And Silver Money , to wit , Testoons to go for Twelve Pence ; and Groats , Half-Groats , Pence , Half-Pence and Farthings , to be Ten Ounces Fine , and Two Ounces Allay . The King was to have out of every Twelve Ounces of Fine Gold Coined Two Carats , which yielded Fifty Shillings : And the Silver to be Coined after the Rate of Six Ounces Fine and Six Ounces Allay ; which was a wretched Debasement . The Gold Coins , called Sovereigns , Half-Sovereigns , Crowns and Half-Crowns , were to be only Twenty Carats Fine , and Four Carats Allay ; and the Silver Coins , to wit , Testoons , Groats , Half-Groats , Pence , Half-Pence and Farthings to be Four Ounces Fine , and Eight Ounces Allay , which was worse . The same with the last Preceding . A Commission to make Sovereigns , Half-Sovereigns , Crowns and Half-Crowns of Gold at Twenty two Carats Fine , and Two Carats Allay : And Shillings of Silver of Six Ounces Fine and Six Ounces Allay . Another to make Sovereigns , Half-Sovereigns , Crowns and Half-Crowns of Gold of the Old Standard ; Namely , Twenty three Carats Three Grains and an Half Fine , and Half a Grain Allay . Another to make Shillings of Silver , Three Ounces Fine , and Nine Ounces Allay . To Coin Sovereigns , Angels and Half-Angels of the Old Standard , to wit , Twenty three Carats Three Grains and Half Fine , and another sort of Gold , to be Twenty two Carats Fine and Two Carats Allay . To Coin Silver Crowns , Half-Crowns , Shillings , Six Pences , Three Pences , Pence , Half-Pence and Farthings , Eleven Ounces One Peny Weight Fine , and Nineteen Peny Weight Allay . To Coin Gold Twenty three Carats , Three Grains and an Half Fine ; and Silver Eleven Ounces Fine . The Old Standard for Gold and Silver . To Coin one sort of Gold of the said Old Standard , and another sort to be only Twenty two Carats Fine , and Two Carats Allay ; and Silver Moneys of the Old Standard . Two Mints were in the Tower , whereof One to convert the Base Money into Sterling , which continued about a Year . And here it may not be improper to Note , that not long after , the Queen in a Publick Edict , told her People , That she had Conquered the Monster which had so long devoured them ; meaning the Debasing of the Standard . The Old Standard perfectly restored both for Gold and Silver Coins . The same continued . The same for Gold. A Commission to make Sovereigns , Half-Sovereigns , Crowns and Half-Crowns of Gold to be Twenty two Carats Fine , and Two Carats Allay . To make Angel-Gold Twenty three Carats Three Grains and half Fine , the Old Standard ; and to make Sovereigns , &c. Twenty two Carats Fine , and Two Carats Allay ; and to make Crowns , Shillings , &c. of Silver Eleven Ounces and Two Peny Weight Fine , and Eighteen Peny Weight Allay , the Old Standard . To Coin the Unites , Double Crowns , British Crowns , &c. of Gold to be Twenty two Carats Fine , and Two Carats Allay , and the Old Standard for Silver continued . To Coin Rose-Rialls , Spur-Rialls , and Angels of the Old Standard of Twenty three Carats Three Grains and an half Fine . To Coin Rialls of the same Standard , and Unites , &c. Twenty two Carats Fine , and Two Carats Allay . To Coin Rialls and Angels of the Old Standard of Twenty three Carats Three Grains and an half Fine , and half a Grain Allay ; and to Coin Unites and Crowns Twenty two Carats Fine , and Two Carats Allay ; and to Coin the Silver Moneys of the Old Standard of Eleven Ounces Two Peny Weight Fine , and Eighteen Peny Weight Allay . To Coin Rialls and Angels of the Old Standard of Twenty three Carats , Three Grains and an half Fine , and half a Grain Allay ; and to Coin Unites and Crowns Twenty two Carats Fine , and Two Carats Allay ; and Silver Moneys of the Old Standard of Eleven Ounces Two Peny Weight Fine , and Eighteen Peny Weight Allay . To Coin the Pieces ( since called Guineas ) running for Twenty Shillings , Half-Guineas , &c. Twenty two Carats Fine , and Two Carats Allay ; and Silver Moneys of the Old Standard . To Coin Ten Shilling Pieces , Twenty Shilling Pieces , Fourty Shilling Pieces , and Five Pound Pieces , of Gold of Twenty two Carats Fine , and Two Carats Allay ; and Silver Moneys of the Old Standard of Eleven Ounces Two Peny Weight Fine , and Eighteen Peny Weight Allay . The same Standard for Gold and Silver . Upon duly considering this History or Relation for so many years past , it may not be improper to Observe to your Lordships thereupon , First , That above Four hundred Years ago , the Standard for the Silver Coins was Eleven Ounces Two Peny Weight Fine , and Eighteen Peny Weight Allay . And so it is at this day by the present Indenture of the Mint , and the same is that which was called the Old Sterling , or Easterling . Secondly , That the Standard for the Gold Coins Four hundred Years ago , was Twenty three Carats Three Grains and an half Fine , and half a Grain Allay . And at this day the Standard of Gold by the Indenture of the Mint is Twenty two Carats Fine , and Two Carats Allay ; the difference of which is only One Carat Three Grains and an half . Thirdly , That the Old Standard obtained for the most part of the said Number of Years , and the chief Deviations from the same were in the Reigns of Henry the Eighth , and Edward the Sixth . The which being premised , the Third thing coming under Consideration concerning such new Coins as His Majesty shall think fit to Direct , is my own poor Opinion , which I humbly offer , and ( as I conceive ) with some clearness , That the present Standard of Fineness , or Purity ought to be continued , namely , of Twenty two Carats Fine , and Two Carats Allay for the Gold ; and Eleven Ounces Two Peny Weight Fine , and Eighteen Peny Weight Allay for the Silver , in all the New Coins that shall be now directed . And my Reasons for the same are as follows , First , Because our Ancestors ( whose wisdom we have no cause to distrust ) have for many Ages endeavoured to keep up the Old Sterling , or to a Standard very near it ; which obtained ( as evidently appears by the foregoing Narrative ) for the greatest part of Four hundred years . Secondly , Although the former Debasements of the Coins by Publick Authority , especially those in the Reigns of King Henry the Eighth , and King Edward the Sixth , might be projected for the Profit of the Crown ; and the Projectors might measure that Profit by the excessive Quantities of Allay that were mixt with the Silver or the Gold : And although this was Enterprized by a Prince who could stretch his Prerogative very far upon his People ; and was done in Times when this Nation had very little Commerce , Inland or Foreign , to be injured or prejudiced thereby : Yet Experience presently shewed that the Projectors were mistaken , and that it was absolutely necessary to have the base Moneys reformed ; the doing whereof was begun by King Edward the Sixth himself , carried on by King Philip and Queen Mary , and happily finished ( though not without great Charge , Vexation and Trouble , the only Offspring of such Designs ) by Queen Elizabeth , who ( as is noted above ) in the Third Year of her Reign , when Money was not plentiful , Erected a Distinct Mint in the Tower , to convert the Base ( not Counterfeit Money ) into Sterling . Thirdly , Because making of Base Moneys will Disgrace this Government in future Generations , the Criticks in every Age being apt to Estimate the Goodness or Badness of Ancient Governments by their Coin , as hath been done , especially in the Case of the Romans ; and a Temptation of this kind ought not to be left for future Ages , to the prejudice of the Honour of the present King. Fourthly , Although it must be acknowledged , That the putting a greater Allay into the Coins , so long as they should still retain so much Purity or Fineness as would render them answerable to the Currant Price of Silver in Bullion , would be no real Injury to the Subject : Yet it must be considered , that when the Causes which at present make Silver Scarce and Dear shall cease , Silver it self will fall in its Price . And if in the mean time the Coins shall have been Debased , then after the Retrieving of the Trade and Wealth of the Nation , and the Bringing down of the Price of Silver thereby , the Damage which the Crown will sustain in its Taxes , Revenues and Loans , and the Loss which the Nobility , Gentry and Commonalty ( especially Ecclesiastical Persons ) will find thereby , in the payment of their Debts , Rents and Annuities ( many of which are so Fixt and Establisht upon previous Reservations or Grants in Fee , or in Tail , or for Lives , or Years certain , or are so payable by Assurances , already perfected , as that it will not be in their powers to alter the same proportionably to the Debasement of the Coin , and the loss or damage , after such Bringing down the Price of Silver , will be proportionable to the excessive Allay to be put into the Money ) will continue and have duration at least till all such Base Money can be abated : The meer Reforming of which would take up a considerable time , and be a new trouble and difficulty after the Ending of the present War , and after the Re-establishment of the Trade and Wealth of the Kingdom . Fifthly , Our present Standard is well known in the World , the same agreeing with most of the Foreign Mints in Europe , and all Foreigners that deal with us , regard the Intrinsick Value more than the Extrinsick Denomination , and Exchange with us accordingly . If Base Money should be made , the Intrinsick Value thereof would be uncertain , or might be disputed ; and in Disputes of such a Nature , it is more likely that they will gain upon us , than we upon them , and so the Exchange become more to our prejudice than it is at present . Sixthly , The Debasing of Money by Publick Authority is needless and frivolous ; for whatsoever Advantages ( grounded upon necessity ) can be propos'd thereby , will arise more easily , and have better Precedents in Raising the Value of the Standard ; which is the next Subject to be Discussed : Not doubting but that your Lordships by these , and other Reasons which might be given ( if they were not too tedious ) will be fully convinc'd , That the present Standard of Fineness is to be continued . The Fourth thing which I have undertaken , in respect of the Standard , is to set forth how the Value of the Gold and Silver in the English Coins hath been Rais'd from time to time , which considers the Weight and Number of the Pieces in the Pound Troy. And because ( in case of new making Silver Moneys ) the Adjusting and Establishing the Extrinsick Value or Denomination thereof , at which the same must have Course , is of the greatest Moment and Consideration in this Affair , both to the King and all his People ; I could not spare my self the trouble of making the following Deduction from the Indentures of the Mint ; which being duly meditated upon , will give a good deal of Light and Precedent for the Rates , to which the Value of Gold and Silver in our Coins are to be Raised and Established at this time . An Indented Tryal-piece of the goodness of Old Sterling was lodged in the Exchequer , and every Pound Weight Troy , of such Silver was to be shorn at Twenty Shillings Three Pence , according to which , the Value of the Silver in the Coin , was One Shilling Eight Pence Farthing an Ounce . Memorandum , I find no farther Indentures concerning this Matter , from Edward the First , till Edward the Third . Every Pound Weight of Gold of the Old Standard abovementioned , namely , Twenty three Carats , Three Grains and a Half Fine , and Half a Grain Allay , was to be Coin'd into Fifty Florences , to be Currant at Six Shillings apiece ; all which made in Tale Fifteen Pounds , or into a proportionable Number of Half-Florences , or Quarter-Florences : This was by Indenture between the King and Walter de Dunflower , Master and Worker . A Pound Weight of Gold of the Old Standard abovementioned , was to contain Thirty nine Nobles and an Half , at Six Shillings Eight Pence apiece , amounting in the whole to Thirteen Pounds Three Shillings and Four Pence in Tale , or a proportionable Number of Half-Nobles , and Quarter-Nobles : Which was by an Indenture between the King and Percivall de Perche . Memorandum , By this Indenture the Tryal of the Pix was Established . A Pound Weight of Gold of the said Old Standard , was to make by Tale Fourty Two Nobles at Six Shillings Eight Pence apiece , amounting to Fourteen Pounds , or a proportionable Number of Half-Nobles , and Quarter-Nobles : And a Pound Weight of the Old Sterling Silver was to make Twenty two Shillings Six Pence : And Percival de Perche was Master . The like when Iohn Donative , of the Castle of Florence , and Philip Iohn Denier were Masters and Workers . Memorandum , By this Indenture were also Coined Half-pence and Farthings of Silver . A Pound Weight of Gold of the Old Standard was to make by Tale Fourty five Nobles , amounting to Fifteen Pounds , or a proportionable Number of Half or Quarter Nobles : And a Pound Weight of Silver of the Old Sterling , to make by Tale Seventy five Grosses ( i. e. Groats ) amounting to Twenty five Shillings , or One hundred and fifty Half-Grosses , going for Two Pence apiece , or Three hundred Sterlings going for Pence apiece : And Henry Brissell was Master and Worker . The like , only adding Half-Sterlings , of which Six hundred in a Pound Troy. The like . The like : And Bardet de Malepilys was Master and Worker . The like : And Nicholas Malakin , a Florentine , was Master and Worker . The like : And here Half-pence are called Mailes . A Pound Weight of Gold of the said Old Standard was to make by Tale Fifty Nobles , or One hundred Half Nobles , or Two hundred Quarter Nobles , amounting to Sixteen Pounds , Thirteen Shillings , and Four Pence in Tale. And a Pound Weight of Silver of the said Old Standard , was to make by Tale Ninety Grosses or Groats , or One hundred and eighty Half-Groz , or Three hundred and Sixty Sterlings , or Seven hundred and twenty Mailes , or One thousand four hundred and fourty Farthings , amounting to Thirty Shillings : And Bartholomew Goldbeater was Master and Worker . A Pound Weight of Gold of the said Old Standard was Coin'd into Fourty five Rialls , going for Ten Shillings apiece , or a proportionable Number of Half-Rialls , going for Five Shillings apiece , or Riall-Farthings , going for Two Shillings and Six-pence apiece , or into Sixty Seven Angels and an Half , going for Six Shillings and Eight Pence apiece , or a proportionable Number of Angelets going for Three Shillings and Four Pence apiece : And consequently the Pound Troy of Gold was Coined into Twenty two Pounds Ten Shillings by Tale , and a Pound Weight of Silver of the Old Sterling was Coined into One hundred and twelve Groats and an half , making in Tale Thirty seven Shillings and Six Pence , or a proportionable Number of Half-Groz , Sterlings or Pence , Half-pence or Farthings : And here Sir Giles Dawbeny was Master and Worker . Is the same with that of the Ninth of Henry the Fifth , lowering the Gold to Sixteen Pounds Thirteen Shillings and Four Pence , and the Silver Moneys to Thirty Shillings : And Robert Mansfeild was Master and Worker . Note , Here the Value of the Silver as well as the Gold in the Coins was brought down again . The same . A Pound Weight of Gold of the said Old Standard was to make by Tale Sixty seven Angels and an Half at Six Shillings Eight Pence apiece , amounting to Twenty two Pounds Ten Shillings , and a Pound Weight of Silver of the said Old Sterling was to make by Tale One hundred and twelve Groats and an Half , amounting to Thirty seven Shillings and Six Pence , or proportionably in the lesser Coins : And Sir Richard Constable was Master and Worker . A Pound Weight of Gold of the said Old Standard was to make by Tale Twenty Pounds Sixteen Shillings and Eight Pence , and a Pound Weight of Silver , Old Sterling , was to make Thirty seven Shillings and Six Pence , as in the last Article : And William Lord Hastings was Master and Worker . A Pound Weight of Gold of the Old Standard was to make Fourty five Nobles going for Ten Shillings apiece , or Ninety Half Nobles , or One hundred and Eighty Quarter Nobles , or Sixty seven and an Half of the Pieces impress'd with Angels going for Six Shillings Eight Pence each , and consequently was Coined into Twenty two Pounds Ten Shillings by Tale , and the Silver Moneys were shorn at Thirty seven Shillings and Six Pence the Pound Weight Troy. This Indenture was between the King and the Lord Hastings His Chamberlain , and Master and Worker and Warden of all his Exchanges and Outchanges in England and Calis . The like . The like . The like . The like : But Bartholomew Read was Master and Worker . The like : And Robert Brackenbury was Master and Worker . The like : And Robert Fenrother and William Read were Masters and Workers . A Pound Weight of such Gold to be Coined into Twenty seven Pounds by Tale ; to wit , into Twenty four Sovereigns , at Twenty two Shillings and Six Pence apiece , or Fourty eight Rialls at Eleven Shillings and Three Pence apiece , or Seventy two Angels at Seven Shillings and Six Pence apiece , or Eighty one George-Nobles at Six Shillings and Eight Pence apiece , or One hundred fourty and four Half-Angels at Three Shillings and Nine Pence apiece , or One hundred sixty and two Fourty-peny Pieces , at Three-Shillings and Four Pence apiece ; and a Pound Weight of Gold of the Fineness of Twenty two Carats only , was to be Coined into One hundred Crowns and an Half of the Double Rose , or Two hundred and one Half-Crowns , making by Tale Twenty five Pounds two Shillings and Six Pence ; and a Pound Weight of Silver of the Old Sterling , was Coined into One hundred and thirty five Groats , or Two hundred and seventy Half-Groats , or Five-hundred and fourty Sterlings ( i. e. Pence ) or One thousand and eighty Half-pence , or Two thousand one hundred and sixty Farthings ; and so every Pound Weight of Sterling Silver was Coined into Fourty five Shillings by Tale : And Ralph Rowlett and Martin Bowes were Masters and Workers . The like . A Pound Weight of Gold of Twenty three Carats Fine , and One Carat Allay , was Coined into Twenty eight Pounds Sixteen Shillings by Tale ( by which Indenture there were Coined Sovereigns at Twenty Shillings apiece , Half-Sovereigns at Ten Shillings , Angels at Eight Shillings , Angelets at Four Shillings , and Quarter Angelets at Two Shillings apiece ) and a Pound Weight of Silver of Ten Ounces Fine , and Two Ounces Allay , was Coined into Fourty eight Shillings by Tale , Namely , into Testoons ( going for Twelve Pence apiece ) Groats , Half-Groats , Pence , Half-Pence and Farthings . A Pound Weight of Gold of Twenty two Carats Fine , and Two Carats Allay , was Coined into Thirty Pounds by Tale ; to wit , into Thirty Sovereigns at Twenty Shillings apiece , or Sixty Half-Sovereigns at Ten Shillings apiece ; or One hundred and twenty Crowns at Five Shillings apiece , or Two hundred and fourty Half-Crowns : And the King had Two Carats of Fine Gold for Coinage , which yielded him Fifty Shillings . And Silver was Coined by the same Indenture of Six Ounces Fine , and Six Ounces Allay , into Fourty eight Shillings by Tale. This Silver was to be Coined into Testoons , Groats , Half-Groats , Pence , Half-Pence and Farthings ; and the Indenture was between the King and Sir Martin Bowes , and others . A Pound Weight of Gold of Twenty Carats Fine , and Four Carats Allay , was Coined into Thirty Pounds by Tale , as in the last ; and the King had Four Carats , which yielded him Five Pounds Two Shillings : And a Pound Weight of Silver of Four Ounces Fine , and Eight Ounces Allay was Coined into Fourty eight Shillings by Tale , which raised the Pound Weight of Fine Gold to Thirty six Pounds ; and the Pound Weight of Fine Silver to Seven Pounds Four Shillings . A Pound Weight of Gold of Twenty Carats Fine , and Four Carats Allay , was Coined into Thirty Pounds by Tale , out of which the King had a great Profit ; and a Pound of Silver of Four Ounces Fine , and Eight Ounces Allay , was Coined into Fourty eight Shillings ; after which Rate every Pound of Fine Silver made in Currant Money Seven Pounds Four Shillings , and the King's Profit on every Pound Weight was Four Pounds Four Shillings : Iohn York and others were Masters and Workers of the Mint in Southwark . Another Indenture to the same Effect with William Tilsworth at Canterbury . Another Indenture to the same Effect with Sir Martin Bowes for the Tower. Another Indenture to the same Effect with George Gale for the Mint at York . Another Indenture to the same Effect with Iohn York for Southwark , differing only in the Charge of Coinage . Another Indenture to the same Effect with William Tilsworth , differing only in the Charge of Coinage . A Pound Weight of Gold of Twenty two Carats Fine , and Two Carats Allay , was to be Coined into Thirty four Pounds by Tale , into Sovereigns at Twenty Shillings apiece , Half-Sovereigns at Ten Shillings apiece , Crowns at Five Shillings , and Half-Crowns at Two Shillings Six Pence apiece : And a Pound Weight of Silver of Six Ounces Fine , and Six Ounces Allay , was to be Coined into Seventy two Shillings ; which Shillings were to go for Twelve Pence apiece by Tale , of which the Merchant , for every Pound Weight of Fine Silver , Received Three Pounds Four Shillings , and the King above Four Pounds Gain , by a Commission to Sir Edmund Peckham and others . A Pound Weight of Gold of the Old Standard , of Twenty three Carats , and Three Grains and a Half Fine , was Coin'd into Twenty eight Pounds Sixteen Shillings by Tale , to wit , into Sovereigns at Twenty four Shillings apiece , Half-Sovereigns at Twelve Shillings apiece , Angels at Eight Shillings apiece , and Half-Angels at Four Shillings apiece , by a Commission to Sir Edmund Peckham and others . A Pound Weight of Silver of Three Ounces Fine , and Nine Ounces Allay , was Coined into Seventy two Shillings at Twelve Pence apiece ; And the Merchant Received for every Ounce of Fine Silver which he should bring to the Mint , Ten Shillings of such Money ; by which means Twelve Ounces of Fine Silver was exorbitantly Raised to Fourteen Pounds eight Shillings , by a Commission to Sir Edmund Peckham and others . A Pound Weight of Gold , of the Old Standard aforesaid , was Coined into Thirty six Pounds by Tale , to wit , Twenty four Sovereigns at Thirty Shillings apiece , Seventy two Angels at Ten Shillings apiece , or One hundred fourty four Half-Angels : And a Pound Weight of Crown Gold of Twenty two Carats Fine , and Two Carats Allay , was Coin'd into Thirty three Pounds by Tale , viz. Thirty three Sovereigns at Twenty Shillings apiece , or Sixty six Half-Sovereigns at Ten Shillings apiece , or One hundred thirty two Crowns , or Two hundred sixty four Half-Crowns : And a Pound Weight of Silver , consisting of Eleven Ounces , One Peny Weight Fine , and Nineteen Peny Weight Allay , was Coin'd into Three Pounds by Tale , viz. Twelve Crowns , or Twenty four Half-Crowns , or Sixty Shillings , or One hundred twenty Six-pences , or Two hundred fourty Three-pences or Seven hundred twenty Pence , or One thousand four hundred and fourty Half-Pence , or Two thousand eight hundred and eighty Farthings . A Pound Weight of Gold , of the Old Standard , was Coined into Thirty six Pounds ; and a Pound Weight of Silver Eleven Ounces Fine , was Coined into Three Pounds by Tale : And Thomas Egerton was Master and Worker . A Pound Weight of Gold , of the Old Standard , of Twenty three Carats three Grains and an Half Fine , was Coined into Thirty six Pounds by Tale ; to wit , into Twenty four Sovereigns at Thirty Shillings apiece , or Forty eight Rialls at Fifteen Shillings apiece , or Seventy two Angels at Ten Shillings apiece , or One hundred fourty and four Half-Angels at Five Shillings apiece : And a Pound Weight of Crown Gold of Twenty two Carats Fine , and Two Carats Allay , was Coined into Thirty three Pounds by Tale ( to wit , Thirty three Sovereigns at Twenty Shillings apiece , or Sixty six Half-Sovereigns at Ten Shillings apiece , or One hundred thirty two Crowns at Five Shillings apiece , or Two hundred sixty four Half-Crowns . ) And a Pound Weight of the Old Sterling Silver , to wit , Eleven Ounces Two Peny Weight Fine , and Eighteen Peny Weight Allay , was Coined into Three Pounds by Tale , of Half-Shillings , Groats , Quarter-Shillings , Half-Groats , Three-half-peny Pieces , Pence and Farthings , by Indenture between the Queen , Sir Thomas Standly and others . Iohn Lonison , Master and Worker , Covenanted to Coin a Pound of Gold of the Old Standard into Seventy two Angels at Ten Shillings apiece , One hundred fourty four Half-Angels at Five Shillings apiece , or Two hundred eighty eight Quarter-Angels , amounting in Tale to Thirty six Pounds ; and a Pound Weight of Old Sterling Silver into Half-Shillings , Three-pences , Three-half-peny Pieces , or Three-farthing Pieces , to make Three Pounds by Tale. Richard Martin Covenanted to Coin Gold , as in the last ; and a Pound of Silver into Sixty Shillings , or into Three Pounds by Tale , in any of the Denominations mentioned in the last Indenture . A Commission to him to Coin the Pound Troy of Old Standard Gold into Fourty eight Nobles at Fifteen Shillings apiece , or Twenty four Double Nobles at Thirty Shillings apiece , making Thirty six Pounds . The same to Coin the Pound Weight of Gold of Twenty two Carats Fine , and Two Carats Allay into Thirty three Sovereigns , at Twenty Shillings apiece , or Sixty six Half-Sovereigns , or One hundred thirty two Crowns , or Two hundred sixty four Half-Crowns , making Thirty three Pounds by Tale. The same to Coin the Pound Weight of Old Standard Gold into Seventy three Angels at Ten Shillings apiece , or One hundred fourty and six Half-Angels , or Two hundred ninety two Quarter Angels , making Thirty six Pounds Ten Shillings in Tale ; and the Pound Weight of Gold , of Twenty two Carats Fine , and Two Carats Allay , into Thirty three Sovereigns and an Half , at Twenty Shillings apiece , or Sixty seven Half-Sovereigns , or One hundred thirty four Crowns , or Two hundred sixty eight Half-Crowns , making Thirty three Pounds Ten Shillings in Tale ; and the Pound Weight of Old Standard Silver into Three Pounds two Shillings by Tale ; Namely , into Crowns , Half-Crowns , Shillings , Six-pences , Two-pences , Pence and Half-pence . Sir Richard Martyn Knight , and Richard Martyn his Son , Masters and Workers , Covenanted to Coin a Pound Weight of Gold of Twenty two Carats Fine , and Two Carats Allay , into Thirty seven Pounds four Shillings by Tale , viz. into Unites going for Twenty Shillings , Double-Crowns at Ten Shillings , Britain-Crowns at Five Shillings , Thistle-Crowns at Four Shillings , and Half-Crowns at Two Shillings Six-pence apiece ; And a Pound Weight of Silver of the said Old Standard , into Sixty two Shillings by Tale ; Namely , into Shillings , Six-pences , Two-Pences , Pence , Half-pence , Crowns and Half-Crowns . A Pound Weight of Gold of the Old Standard of Twenty three Carats , Three Grains and an Half Fine , was Coined into Fourty Pound Ten Shillings by Tale ; to wit , into Rose-Rialls at Thirty Shillings apiece , Spur-Rialls at Fifteen Shillings , and Angels at Ten Shillings apiece . There was a Proclamation for Raising Gold Two Shillings in every Twenty Shillings . A Pound Weight of the Old Standard Gold was to be Coined into Fourty four Pounds by Tale ; to wit , Rose-Rialls , Spur-Rialls , and Angels ; and a Pound Weight of Gold of Twenty two Carats Fine , was Coined into Fourty Pounds Eighteen Shillings and Four Pence ; to wit , into Unites at Twenty two Shillings , Double-Crowns at Eleven Shillings , British-Crowns at Five Shillings and Six-pence , Thistle-Crowns at Four Shillings and Four Pence Three Farthings , or Half - British Crowns at Two Shillings and Nine Pence apiece . A Pound Weight of Gold , of the Old Standard of Twenty three Carats Three Grains and an Half Fine , and Half a Grain Allay , was Coined into Fourty four Pounds Ten Shillings by Tale , to wit , into Rose-Rialls at Thirty Shillings apiece , Spur-Rialls at Fifteen Shillings apiece , or Angels at Ten Shillings apiece ; and a Pound Weight of Crown Gold of Twenty two Carats Fine , and Two Carats Allay , into Fourty one Pounds by Tale , to wit , into Unites at Twenty Shillings , Double-Crowns at Ten Shillings , or British-Crowns at Five Shillings apiece ; and a Pound of Silver of the Old Standard of Eleven Ounces , Two Peny Weight Fine , into Sixty two Shillings by Tale ; Namely , into Crowns , Half-Crowns , Shillings , Half-shillings , Two-pences , Pence and Half-pence , by Indenture between the King and Sir Robert Harleigh . The like both for Gold and Silver Moneys , by Indenture between the King and Sir Ralph Freeman . An Indenture between the King and Henry Slingsby Master and Worker , to Coin Crown Gold Twenty two Carats Fine , and Two Carats Allay into Fourty four Pounds Ten Shillings by Tale ; to wit , into Pieces to run for Ten Shillings , Twenty Shillings , Fourty Shillings , or Five Pounds apiece ; and a Pound of Silver of the Old Standard into Three Pounds Two Shillings by Tale , to wit , into Crowns , Half-Crowns , Shillings , Half-shillings , Groats , Half-six-pences , Half-Groats and Pence . A Pound Weight of Gold , Twenty two Carats Fine , and Two Carats Allay , to be Coined into Fourty four Pounds Ten Shillings by Tale ; and a Pound Weight of Silver of the Old Standard into Sixty two Shillings by Tale , just as the preceding Indenture : And Thomas Neale Esq ; was Master and Worker . The like . By the careful observing of which Deduction here made , from the Indentures of the Mint for above Four hundred Years past ( many of which are yet extant , and have been seen and examined by me ) it doth evidently appear , That it has been a Policy constantly Practised in the Mints of England ( the like having indeed been done in all Foreign Mints belonging to other Governments ) to Raise the Value of the Coin in its Extrinsick Denomination , from time to time , as any Exigence or Occasion required ; and more especially to Encourage the bringing of Bullion into the Realm to be Coined ( though sometimes , when the desired End was obtained , the Value has been suffered to fall again . ) So that in the whole Number of Years , from the Twenty eighth of Edward the First , until this time , by such Variations the Extrinsick Value or Denomination of the Silver is Raised in about a Triple Proportion ; that is to say , In the Reign of the said King Edward the First ( as is plain by this Narrative ) a Pound Weight Troy of Sterling Silver was shorn at Twenty Shillings and Three Pence , and consequently Two hundred fourty three Pence , or Twenty Shillings and One Fourth of a Shilling , or One Pound and One Eightieth Part of a Pound by Tale , were then Coin'd , out of the said Pound Weight Troy : Whereas at this day , and for about Ninety years past , a Pound Weight Troy of like Silver , is and hath been Coin'd into Seven hundred fourty four Pence , or Sixty two Shillings , or Three Pounds , and One tenth of a Pound by Tale , the Pound Weight Troy having then and now the same Weight and Fineness . And as to the Gold , I need only to observe from the foregoing Deduction , That in the Eighteenth of Edward the First , a Pound Weight Fine , Twenty three Carats , Three Grains and one Half , was Coin'd into Fifteen Pounds by Tale : Whereas at this day a Pound Weight of Gold , of the Fineness only of Twenty two Carats , is Coin'd into Fourty four Pounds Ten Shillings . And this Method of Raising the Extrinsick Value of the Gold and Silver , in the Denominations of the Coins , as it hath been constant almost in the Reign of every King , so no Inconvenience , Disgrace or Mischief ( as can be observed ) has ever accrued by the doing thereof at any time , when a Just , Necessary or Reasonable Cause gave Occasion thereunto . The which being Premised , and every Project for Debasing the Money ( by the Reason before given ) being Rejected as Dangerous , Dishonourable and Needless : It remains that our Nation in its present Exigence , may avail it self , by Raising the Value of its Coins , and this may be effected , either by making the respective Pieces called Crowns , Half-Crowns , Shillings , &c. to be lesser in Weight , or by continuing the same Weight or Bigness , which is at present in the Unclipt Moneys , and Ordaining at the same time , that every such Piece shall be Currant at a higher Price in Tale. But before I proceed to give my Opinion upon this Subject , it seems necessary for me to assert and prove an Hypothesis , which is this , namely , That making the Pieces less , or ordaining the respective Pieces ( of the present Weight ) to be Currant at a higher Rate , may equally raise the Value of the Silver in our Coins . The former of these finds many Precedents in the Indentures above recited , but the latter seems more suitable to our present Circumstances , as will afterwards be shewed more at large . This Hypothesis or Theorem is easily demonstrated thus , Let it be granted , That a Crown Piece by the present Standard contains in Sterling Silver ( as it really doth ) Nineteen Peny Weight , and 354838 / 1000000 parts of a Peny Weight : Or ( which is the same thing ) Nineteen peny Weight Eight Grains and an Half , and a very small fractional part more , going at this time for Five Shillings , or Sixty Pence . And let it be supposed ( which is practicable , and the thing aimed at ) that this very Crown Piece be ordained to pass for Six Shillings and Three Pence , or ( which is equal ) Seventy five Pence . Then I say by Inverse Proportion , as Seventy five Pence are to Sixty Pence , so Sixty will be to Fourty eight Pence , which are equal to Four Shillings . From whence I infer , That if the Extrinsick Value of the Silver now in a Crown were to be Rais'd to Six Shillings and Three Pence ( by diminishing the Weight of the Piece according to former Precedents ) then such Diminitive Crown must weight only Four fifths of the said 19.354838 / 1000000 Peny Weight , that is to say , it must weigh Fifteen Peny Weight , and 4833704 / 10000000 parts of a Peny Weight , and in this case Five Three Pences to be Coin'd in the same Proportion , to compleat the Rais'd Value of Six Shillings and Three Pence , must weigh One fourth part of the Diminitive Crown , as in the Margin . Again ( by direct Proportion ) if 15.4838704 Peny Weight of Sterling Silver is to go or be Currant for Five Shillings , of Sixty Pence , then 19.354838 Peny Weight of Sterling Silver ( which is the Quantity in an Unclipt Crown by the present Standard , and equal to the Sum or Aggregate of the other Two Quantities ) ought to go and be Currant for Six Shillings and Three Pence , or Seventy five Pence , and consequently will Raise the Extrinsick Value of the Silver , as much as diminishing the Pieces would do ; which was to be demonstrated . And now ( having cleared my way ) I humbly take leave to offer my Opinion , That all such Silver Moneys as are after Enumerated of the Lawful Coins of this Realm of England , which are now in being , and are not at all diminished by Clipping , Rounding , Filing , Washing , or any other Artifice , be Rais'd by Publick Authority to the foot of Six shillings and Three pence for the Crown , and proportionably for the other Species , namely , the Crown to go for Seventy five pence , the Half-Crown to go for Thirty seven pence and an half-peny , the Shilling for Fifteen pence , and the Half-shilling for Seven pence half-peny , leaving all the other old Vnclipt Pieces , as the Thirteen pence half-peny , the Nine pence , the Groat , Two pence , &c. which are very few in Number , and much worn , to go upon their present Foot , and to find their Values in pence , and parts of a peny , as they do at this day . And that the New Coins to be made , either of the Clipt Money , as it shall be brought in , or of any other Sterling Silver , be made , in their respective Weights or Bigness , by the present Indenture of the Mint , that is to say , One Piece which may be called the Sceptre , or the Silver-Unite , or by such other Name as His Majesty shall Appoint , and to be exactly of the Weight and Fineness of the present Vnclipt Crown Piece , but to run for Seventy five Pence Sterling ; of which Pieces so made , there shall be Twelve , and Two fifths of such piece in a Pound Weight Troy ; and Three of the said Pieces called Sceptres or Unites , or by such other Name , as aforesaid , together with a Fifteen Peny Piece , after mentioned , shall make by Tale One Pound Sterling , or One Pound of Lawful Money of England , in all Accounts and Lawful Payments whatsoever . Another Piece which may be called the Half-Sceptre or Half-Unite , or by such other Name as His Majesty shall Appoint , which shall be equal in Weight and Fineness to a present Vnclipt Half-Crown , but to run for Thirty seven Pence and an Half-peny Sterling ; of which Pieces last mentioned , there shall be Twenty four , and Four Fifths of such a Piece in a Pound Weight Troy ; and Six of the said Pieces called Half-Sceptres or Half-Unites , or by such other Name as His Majesty shall Appoint , together with One Fifteen Peny Piece aftermentioned , shall make by Tale One Pound Sterling , or One Pound of Lawful English Money , in all Accounts and Legal Payments whatsoever . One other Piece which may be called the Testoon , or Fifteen Peny Piece , which shall be equal in Weight and Fineness to a present Vnclipt Shilling , but to run for Fifteen Pence Sterling , of which there shall be Sixty two in a Pound Weight Troy , and Sixteen of the said Pieces called Testoons , or Fifteen Peny Pieces , shall make in Tale One Pound Sterling , or One Pound of Lawful English Money ; or Ten of these Testoons , together with Two such Grosses or Groats , as are after mentioned , will make a Mark Sterling , or Five of them , and One such Gross or Groat , will make a Noble , which the Law used to call the Hauf Merk , or Eight of them will make the Angel , or Four of them will make the Crown , or Two of them will make the Half-Crown : And they may be proportionably varied , many other ways in all Accounts , Reckonings and Legal Payments whatsoever . One other Piece , which may be called the Half-Testoon , which shall be equal in Weight and Fineness to the Half-shilling by the present Standard , but to run for Seven Pence Half-peny Sterling , of which there shall be One hundred twenty four in the Pound Weight Troy ; and Thirty two of the said Pieces to be called Half-Testoons , shall make in Tale One Pound Sterling ; or Twenty of these , with Two of the Grosses or Groats , will make a Mark in Tale ; or Ten of these Half-Testoons , with one Gross , will make a Noble ; or Eight of the said Half-Testoons will make a Crown by Tale ; or Five of them with a Half-Groat , will make the Half-Noble , or Three Shillings and Four-pence by Tale , or Four of the said Half-Testoons , will make an Half-Crown ; or Thirty two of them will make Twenty Shillings by Tale , or Sixteen of them will make Ten Shillings by Tale ; or eight of them will make Five Shillings by Tale ; and they may many other ways be proportionably varied in all Accounts , Reckonings and Legal Payments whatsoever , One other piece which may be called the Gross or Five-peny piece , to be equal in Weight and Fineness to a Groat by the present Standard , but to run for Five pence Sterling , of which there shall be One hundred eighty six in the pound Weight Troy ; and Fourty eight of the said Grosses or Five-peny pieces , will make in Tale One pound Sterling ; or a proportionable Number of them in many Cases ( too tedious here to enumerate ) will answer to the said Denominations of Pounds , Marks , Half-Marks , Quarter-Marks , Angels , Crowns , Half-Crowns , Shillings and Pence used in Accounts , or in Acts of Parliament , Records , or other Legal Instruments , which are absolutely necessary to be continued . One other piece which may be called the Quarter-Testoon , which shall be equal in Weight and Fineness to a Three peny piece by the present Standard , but to run for Three pence three farthings Sterling , of which there shall be Two hundred fourty eight in a Pound Weight Troy , and Sixty four of these Quarter-Testoons will make in Tale One pound Sterling , or a proportionable Number of them will answer in a greater Number of Cases to the said Denominations used in Accounts , or in the Laws of England . One other Piece which may be called the Half-Groat or Half-Gross , which shall be equal in Weight and Fineness to a Two peny piece by the present Standard , but to run for Two pence half-peny Sterling , of which there shall be Three hundred seventy two in a Pound Weight Troy , and Ninety six of the said Half-Groats will make in Tale One pound Sterling , or a proportionable Number of them will answer , in most Cases , to the said Denominations used in Accounts , or in the Laws of England . And one other Piece which may be called the Prime , which shall be equal in Weight and Fineness to a present Standard peny , but to run for Five farthings , or for One peny , and the fourth part of a peny Sterling , of which there shall be Seven hundred fourty and four in a Pound Weight Troy ; and One hundred ninety and two of the said Primes will make in Tale One pound Sterling , on a proportionable Number of them ( the Combinations whereof are almost infinite ) will answer almost in all Cases to the said Denominations used in Accounts , or in the Laws of England . And because it may be convenient to have the Denomination of Shillings continued , let there be added One Piece to be called the Shilling , or Twelve peny Piece , to be equal in Fineness , though not in Weight , to any Standard Money now in being , to run for Twelve pence Sterling , ( which will be a Fifth part less in Weight then the present Shilling ) of these there shall be Seventy Seven and an Half in a Pound Weight Troy , and Twenty of them will make a Pound by Tale , whereby every Pound Weight Troy of the Silver Moneys aforesaid , will be and hold in Number and Tale , and in the Value will be Rais'd from Three pounds Two Shillings , to Three pounds Seventeen Shillings and Six pence Sterling , by the Pound Troy : And my Reasons for this Opinion are as follows : First , The Value of the Silver in the Coin ought to be Raised to the Foot of Six Shillings Three Pence in every Crown , because the Price of Standard Silver in Bullion is Risen ( from divers necessary and unnecessary Causes , producing at great length a great scarcity thereof in England ) to Six Shilings Five Pence an Ounce : This Reason ( which I humbly conceive will appear irrefragable ) is grounded chiefly upon a Truth so Apparent , that it may well be compared to an Axiom even in Mathematical Reasoning , to wit , That whensoever the Extrinsick Value of Silver in the Coin hath been , or shall be less than the price of Silver in Bullion , the Coin hath been , and will be Melted down . Although the melting down of Coin , for private Lucre , be done in secret ( because 't is Punishable by * Law ) yet no man can doubt but that it has been Practised for a long time past , to such a Degree , upon the Weighty Money , as that in particular , the Crowns and Half-Crowns of Edward the Sixth and Queen Elizabeth are quite vanished : Those of King James the First are become very rare : Those of King Charles the First ( though the most numerous of all that remain ) are in great measure Reduced , and will appear to be so the more plainly , when they come to be distinguished from the Counterfeits , which are mostly contrived to Resemble these : The Crowns , Half-Crowns , and indeed the lesser Coins of King Charles the Second ( the far greatest part whereof were Milled Money ) in all Payments at the Exchequer , and other Publick Offices , do not , by Estimation , exceed the Proportion of Ten Shillings per Cent. or a Two hundredth Part. And if this Wicked Fact of Melting down has been notoriously Committed , at times when there was no great difference betwen the Value of the Silver in the Coin and that in the Bullion ; or when the Goldsmiths and other Artificers could make no other Profit thereby , than the finall Over-weight , which ( by Weighing and Culling the Pieces Coin'd at the Tower ) they found to be in some of them , which being Molten , might be carried back to the Mint , and there Re-coin'd at the King's Charge into a greater number by Tale for their own Use : Then one may easily conclude , That the temptation of Melting down , is grown of late much more prevalent ; since , at this day , Standard Silver in Bullion is commonly sold at the said Price of Six Shillings and Five Pence , or for Seventy seven Pence an Ounce . And in regard Twenty Peny Weight ( equal to an Ounce ) bears the same Proportion to Seventy seven Pence as Nineteen Peny Weight , and 〈…〉 8●8 / 100 000 of One Peny Weight ( equal to the Standard Silver contained in a Crown Piece ) doth to Six Shillings and Two Pence Half-peny ; it is most plain , that he now Melts down ( for Instance ) a Crown Piece , which whilst it retains the Image and Superscription of His Majesty , or either of the late King 's runs only for Five Shillings , can immediately sell the Silver of it here for Six Shillings and Two Pence Half-peny , and gain the Sum of Fourteen Pence Half-Peny upon every such Melted Piece , By such Sale of the Silver here , or ( by reason of the great Loss which this Nation at present suffers in its Foreign Exchange or Remittances ) he may make a greater Profit of the same Silver , by Exporting it into Foreign Parts , if he can effect the same , either by Stealth , or by Eluding the late Act of Parliament , Prohibiting such Exportation . One may also foresee , that continuing the Silver Moneys ( either Old or New Coins ) upon the present foot , whilst Bullion is so much dearer , will inevitably produce Consequences pernicious to the whole ; in effect it will be nothing else but the furnishing Offenders with a Species to Melt down at an extravagant Profit , and encouraging not a necessary , but a violent and exorbitant Exportation of our Silver to the Foreign Parts , for the sake of the Gain only , till we shall have little or none left in the Kingdom . And upon an Impartial Consideration of these Matters , we may be able to make a more mature Judgment upon the Suggestion that has been raised by some Men , Namely , That Raising the Value of our Coin , or Continuing it on the present Foot will be the same thing . If these Gentlemen mean , that Silver in Bullion will always , during this War , be dearer than Silver in Coin , because of the necessity to Export it for the Foreign Expence of the War , and to answer the Ballance of Trade , occasioned by the Interruption of our Navigation , I Answer , First , That this Necessity may be diminished ; but it cannot in any Sence be Augmented , by Raising the Value of our Coin. Secondly , That supposing the worst , to wit , a further Advance of the Silver in Bullion , yet even in that case , the Offenders before mentioned will not find so much Incouragement or Temptation , when their Profit , whatsoever it be , upon every Raised Crown , must evidently be less by Fourteen Pence Half-peny than it is at present , upon a Crown running in Payment for Five Shillings only . Thirdly , It is hoped that the Exchange to Holland , ( which by the way has risen a little of late ) may by the Success of some good Designs now on Foot ( though the War should continue ) be kept at a stand , at least from falling much lower . In which Case I think the Arguments of these Gentlemen will have little or no Weight . Fourthly , There must be a great difference with regard to the Service and Disservice of the Publick , between a necessary Exportation of Bullion or Coin , ( perhaps the One may be as well Disspensed with as the other , by Publick Authority , and to a Limited Sum ; only for the Service of the War ) and such an Exportation thereof , as proceeds Originally from the said exorbitant Profit of the Melters , who being Goldsmiths , Refiners , or other Traders , and by this Means , and by the Clippings , getting great Quantities of Molten Silver into their Hands , know well enough ( though by Unlawful or Indirect Means ) to convey the same beyond Sea , either to buy Gold there , which is afterwards brought hither and Coin'd into Guineas , passing at Thirty Shillings apiece ; or to buy Prohibited Goods , as Lace , Lustrings , Muslins , divers East-India Goods , or other enumerated Commodities , or for other Purposes , which , though unlawful or needless , do all help or combine , at this time , to Augment and Inhance that Ballance of Trade between us and our Neighbours , very much to our Detriment , as will be shew'd hereafter . Fifthly , These Gentlemen consider only the use of our Coin in England , as it hath Relation to Foreign Exchanges or Remittances , whereas it serves principally the Inland Commerce , and supplies many other occasions , which will be advantaged by the Rise and Plenty thereof . And whereas it is apprehended that the proposed Advance of the Silver in the Coin , will produce a proportionable loss in all Rents and Revenues , Publick or Private , settled or ascertained by Antecedent Reservations , Grants or Agreements , and in all Debts now standing out upon Specialty , or without Specialty : I humbly conceive these Apprehensions must entirely vanish , when it shall be impartially considered , That this Nation is , and hath been for some time past , ingaged in a necessary War , which hath not only caused a great Expence of our Wealth in Foreign Parts of Europe , but hath Interrupted the Navigation , which used to Supply us from East and West Indies , and from other Parts of Asia , Africa and America , with much greater Quantities of Goods than served our own Consumption , and consequently afforded us a large Overplus , which , together with our own Native Product or Manufacture , were Exported to our Neighbour Nations , in Barter or Exchange for the Goods we received of them . That reckoning on the one side the Value of the Naval Stores , Linens , Silks , Salt-Petre , and many other Enumerated Commodities , which we receive from our Neighbours , and adding thereunto our Foreign Expence for the War : And on the other side the Value of so much of our Native Manufactures , or Produce , and the small Overplus of Goods brought from the East and West Indies , &c. as we have lately Exported , or can Export into our Neighbour Nations of Europe , there would appear a great Difference or Excess between the one side and the other of such Account or Reckoning ; which Difference or Excess is or may be called the Ballance of Trade . That it cannot be conceived how this Ballance , Difference , or Excess hath been or can be answered by us in any thing other than our Coin or Bullion . That to answer this Ballance of Trade , there hath been already Exported a great part of our Coins and Bullion , namely , Clippings , which I think must have been equal in Value to at least a Fourth part of our whole Species of Silver Moneys , the Molten Silver of a good part of our heavy Coins , part of our heavy Coins themselves , our whole Stock of Foreign Silver , for I am told there is little or none of that to be bought in England at this time , and the Molten Silver of a great deal of our English Plate and Vessels , which People have been induced to part with at a good Price . That by this means Silver in Coin or in Mass is actually grown very Scarce in England . That every thing having any Value or Worth whatsoever , when it becomes Scarce grows Dear , or ( which is the same thing ) it Riseth in Price , and consequently it will serve to pay more Debt , or it will buy greater Quantities of other Goods of Value , or in any thing else it will go further than it did before . That Silver in England being grown Scarce , as aforesaid , is consequently grown Dearer . That it is Risen in Price from Five Shillings and Two Pence , to Six Shillings and Five Pence an Ounce : And by Daily Experience Nineteen Peny Weight and Three Tenths of a Peny Weight in Sterling Silver ( equal to the Weight of a Crown Piece ) in England , doth , and will Purchase more Coined Money than Five Shillings by Tale , ( though the latter be delivered bona fide in Unclipt Shillings , or in a good Bill ) and consequently doth and will Purchase and Acquire more Goods or necessaries , or pay more Debts in England , or ( being delivered here ) it fetches more Money in any Foreign Parts by way of Exchange , than Five Shillings by Tale , or the Sixth Part of a Guinea by Tale , or Goods to the Value of Five Shillings in Tale only , do or can Fetch , Purchase or Acquire . That this Advanced Price of the Silver has been growing for some time , and is Originally caused by the Ballance , Excess or Difference abovementioned , which Naturally and Rationally produces such an effect . And there is no reason to expect that Silver will decline in its Price or Value here , till it be made more plentiful , by turning the Ballance of Trade to our Advantage , which seems to be a Work that can be accomplished with Success in times of Peace , or by such a Protection of our Trade , as will render our Exportations as large as they used to be in times of Peace . That the Raising the Value of the Silver in our Coins to make it equal to Silver in Mass , can in no Sence be understood to be a cause of making Silver Scarce . That there can never be propos'd any just or reasonable Foot upon which the Coins should be Currant , save only the very Price of the Silver thereof , in case it be Molten in the same Place where the Coins are made Currant , or an Extrinsick Denomination very near that Price : It being most evident , That if the Value of the Silver in the Coins should ( by any Extrinsick Denomination ) be Raised above the Value , or Market Price of the same Silver , reduced to Bullion , the Subject would be proportionably Injured and Defrauded , as they were formerly in the case of the Base Moneys Coin'd by Publick Authority , but if the Value of the Silver in the Coins be less than the Value or Market Price of the same Silver reduced to Bullion , then the Coins are always Melted down for Luore , as they have been , and are at this day in the Case of the Unclipt Moneys , and as they will certainly be , in Case of any New Coins that shall be made , to be Currant upon the Old Foot of Sixty Pence for the Silver of a Crown Piece ; which sufficiently proves , That the Medium propos'd is the true Foundation for the Course of our Moneys . That for this purpose we need only to consider the very Price that Silver bears in England , where these Coins are to be Currant , although if we will have Relation to Neighbouring Countreys , particularly to Holland , we shall find that the Currant Price of an Ounce of Silver there , adding thereunto the Difference of Exchange from London to Amsterdam or Roterdam ( which Difference in the Exchange , is but another Effect of the Ballance of Trade before-mentioned ) will still make up the Price of Six Shillings and Five Pence for the Ounce of Silver at London . And if this were not so , your Lordships might be sure that no body would buy Silver at London for Six Shillings and Five Pence an Ounce , carry it to Holland , and sell it there perhaps for Five Shillings and Five Pence an Ounce , or for so much in their Coins , the Silver whereof is not equal to Five Shillings and Five Pence by our Standard . That it ought not to be Alledged that Silver has no Price ; for every Indenture of the Mint ( having first Ascertain'd the Extrinsick Denomination of the Currant Coins ) has taken care also to Determine the Price or Value of the Silver to the Merchant or Importer , which was to be Answered in those Extrinsick Denominations ; and daily Experience shews every Man , in Buying or Selling of Silver , that it has a Price or Value still Reckoned in those Extrinsick Denominations , although at present it much exceeds , as aforesaid , the said Rate of Sixty two Shillings for a Pound Troy. That Five Shillings Coin'd upon the Foot hereby Proposed , will actually contain more real and Intrinsick Value of Silver by a great deal , than is in the Currant Moneys now commonly Applied to the Payment of the said Rents , Revenues and Debts , upon which the imaginary Loss is Apprehended , and in Reason will and ought to go further to all Intents and Purposes , than Five Shillings in Clipt Moneys , or in the Sixth Part of a Guinea , doth or can go ; which will be better understood , when the Mischiefs of these Clipt Moneys and Guineas come to be Explain'd in the Third Chapter . And lastly , That as the Foot or Foundation hereby Proposed , for the Course of the Moneys , will be Just and Reasonable , with regard to the Price of Silver , and more Advantagious to the Receivers thereof , than Payment in Clipt Moneys or Gold at the present Price ; so every Person that shall Receive any Money Coin'd or made Currant upon this New Foot , will have the Payment , Issuing and Expenditure thereof at the same Rate . And it is freely submitted to Impartial Judgments , whether the propos'd Advance of Silver in the Coins can infer a Real Loss upon any Persons , other than such as can propose to themselves particularly the Receipt of Moneys in Weighty or Unclipt Pieces only , and the Conversion thereof to an Advantage , which Law or Reason would not allow them . Secondly , The Value of the Silver in the Coin ought to be Raised , to encourage the bringing of Bullion to the Mint to be Coin'd . It is a Matter of Fact well known to your Lordships , and ( by the small Number of the Pieces of the present King , or of His Majesty and the Deceas'd Queen ) it is perceivable by every body else , that since Bullion hath born a greater Price than Silver in the Coin , there has been none brought to the Mint to be Coin'd , either by Importers or others , unless some small Parcels , that were Seiz'd or sent thither by Publick Authority . And it is utterly against Reason for any Man to think , that any Bullion of Silver will be carried thither voluntarily to be Coin'd , till the Value of Silver Coin'd be Raised , at least as high as the Value of Silver in Bullion . By the propos'd Advance to Six Shillings and Three Pence , the Sterling Silver in the Coins will be set at Six Shillings and Five Pence Half-peny per Ounce , which will exceed the present Price of Sterling in Bullion by One Half-peny per Ounce , and give ( though by a small Profit ) an Encouragement to those that have English Silver or Plate , and particularly to the Retailers of Wine , Beer , Ale and other Liquors , ( whose Tankards and other Vessels are herein after Propos'd to be brought in ) and generally to all those that have or can have Silver Imported , to carry the same to the Mint to be Coin'd . And this will be agreeable to the Policy that in past Ages ( as hath been observed upon the aforesaid Deduction ) hath been Practised not only in our Mint , but in the Mints of all Politick Governments , namely , to Raise the Value of Silver in the Coin , to Promote the Work of the Mint . Thirdly , The Raising the Value of the Silver in the Coin , will increase the whole Species in Tale , and thereby make it more commensurate to the general need thereof , for carrying on the Common Traffick and Commerce of the Nation , and to answer the Payments on the numerous Contracts , Securities , and other daily Occasions , requiring a larger Supply of Money for that purpose . This Reason may be farther Illustrated , by considering that the want of a sufficient Stock of Money , hath been the chief Cause of Introducing so much Paper Credit ( which is at best hazardous , and may be carried too far ) and the Setting up of Offices , both in City and Country , for Bartering of Goods or Permutations . Fourthly , The Silver in the Old Unclipt Moneys , and in the New Coins now Propos'd to be made , ought to be Raised ( as I have offered ) Equally , to avoid Confusion and Uncertainty in Payments : For if Pieces , having the same Bigness , should have different Values , it might be difficult for the Common People ( especially those not skilled in Arithmetick ) to Compute how many of one kind will be equal to the Sum of another ; and there might be some Dispute about the Lawful Money of England , to be Paid upon Mortgages , Bonds , Contracts , or other Legal Securities referring thereunto . Fifthly , The Foot of Six Shillings and Three Pence for the Crown , here Propos'd , will not only be suitable to the present Rate of Bullion , but it happens to be such a Sum as is Deviseable into a great Number of Aliquot or other Integral Parts , to serve for the lesser Coins before Propos'd , so that none of them will come forth in any Fractional Part of a Farthing , which will obviate much Perplexity amongst the Common People : And I think there is scarce any other Sum near it that is Deviseable in like manner . Sixthly , By this Project , all Computations in Pounds , Shillings and Pence , used in Accounts ; and the Reckonings by Pounds , Marks , Half-Marks , Shillings and Pence , practised in the Law of England , and in the Records , Contracts and other Instruments , relating thereunto , will be Preserved as they ought to be . Seventhly , By this Method , the bringing in of the present Unclipt Coins , to be cut into lesser Pieces , are rendered needless ; which Species being at present ( for the most part ) Hoarded , will , upon Raising their Value , come forth , and go a great way towards Supplying the Commerce and other Occasions , whilst the New Money is making . And I think it will be Granted to be utterly impossible , in this time of War , to Re-Coin the Clipt Moneys , if at the same time the Unclipt shall be brought in to be new Cut ; or if the Unclipt Pieces should not ( by such an Encouragement ) be brought forth to Supply the Commerce , Pay Taxes , and serve other Occasions in the mean time . Eighthly , It is difficult to Conceive , how any Design of Amending the Clipt Moneys can be compassed , without Raising the Value of the Silver remaining in them , because of the great Deficiency of the Silver Clipt away ; which ( upon Re-Coining ) must necessarily be Defrayed or Born one way or other . Ninthly , As our Unclipt Moneys , and the New Coins here Propos'd to be made , will , by the former Proposition , retain the Ancient Sterling , or Old Right Standard of the Mint for Fineness and Purity ( the Alteration of which could never be Justified by any Necessity ; ) so by this Proposition they will both Continue the Present Standard of the Mint in the Weight or Bigness of the respective Pieces , without being cut into Less , as they have formerly been ( the New Shilling only excepted : ) These Propositions indeed , dealing with nothing but the very Value of the Silver in the Coins , to make it equal to the Currant Price of our own Bullion or Silver in Mass , with a very little Excess , to wit , of an Half-peny in an Ounce , to encourage the Coinage , and to make it bear the like Reason or Proportion to the Price of Foreign Moneys now Currant amongst us ; Namely , the Pillar Dollars , which go at Seven Shillings and a Peny per Ounce , and Sevil and Mexico Dollars at Seven Shillings per Ounce , and to effect an equality in all Pieces , having the same Extrinsick Denomination , and thereby to cure such Mischiefs relating to our Coin , as are not to be Parallel'd in the Records of former Ages : Which Raised Values may be Lowered again by the Wisdom and Authority of Parliament , when the Wealth of the Nation shall ( by Gods Blessing ) be Re-establisht without Trouble or Charge of Re-coining or Cutting the Silver Pieces into other Sizes . As to the Gold Coins which are now almost wholly Reduced or Converted into the Pieces called Guineas and Half-Guineas , they were first Coin'd by King Charles the Second , not long after the Restauration ; and were ordained to go at the Rates of Twenty Shillings for the Guinea , and Ten Shillings for the Half-Guinea ; but I do not remember that they ever passed at so little , as the Prices which were then set upon them because our Nation has been always too apt to over-value its Gold. And at this time the Guinea runs for Thirty Shillings , although the Gold of it ( if it were carried to Spain , Italy , Barbary , and some other Places of the World ) would not Purchase so much Silver there , as is equal to the Standard of Four of our Crowns , or Twenty Shillings . And here it is necessary for me to Observe , That if the Gold had Advanced proportionably with the Silver , then because as Five Shillings ( the Standard Value of the Silver in a Crown ) is to Six Shillings and Two Pence Halfpeny , the present Value of the same Silver in Mass , so Twenty Shillings ( the Standard Value of the Gold in Guinea ) is to Twenty four Shillings and Ten Pence ; It should follow by Reason that a Guinea at this day should go for about Twenty four Shillings and Ten Pence , but it apparently runs for about Five Shillings more , so that in the time that the Silver in a Crown is Risen about a Fifth part , the Gold in a Guinea is Risen in a much greater proportion , namely , a compleat Third part . Which Advance of Five Shillings in a Guinea ( over and above the proportionable Rise which it should have had to make it keep pace with the Silver ) is exceedingly detrimental to our Nation at this Day ( as will be hereafter shewed more at large . ) And seeing it can be attributed to nothing but the present Badness of our Silver Coins , which are so exceedingly Counterfeited , and Clipt , that the Common People will take Guineas almost at any Rate , rather than stand the hazard and vexation of such Silver Moneys as are now Currant amongst them : I am therefore humbly of Opinion , That altering the present Standard of our Gold Coins ( which prescribes Twenty two Carats Fine , and Two Carats Allay , and that Fourty four Guineas and an Half shall be cut from a Pound Weight of such Gold ) would avail nothing . And that the only remedy to fix these Gold Coins upon a right Foot , will be the Re-establishment of the Silver Coins , which ( as soon as Atchieved according to these Propositions ) will in all likelihood and probability , presently reduce the Guineas to about Twenty five Shillings apiece by the most Natural and Easie way , without fixing any limited Price thereupon by Publick Authority , which ( if one were to judge by past Experience ) would never be observed , at least for any time . A Corollary : The abovementioned Ballance of Trade being ( as is before observed ) the Original Cause of the Scarcity of Silver in England , and of the Loss by the Foreign Exchange or Remittances , he that can propose any proper Expedients , either to lessen that Ballance , or convert it to our Advantage , ought to be well heard . But any Proposal which supposes the Ballance of Trade must be Rectified before our Coins be Amended , or a Reasonable Foundation can be fixed for the Course of the same , does but postpone the Cure of a Disease which may destroy us before such a Remedy can take effect . The True and Reasonable Adjustment of that which is called by the French , Pied de Monoye , and by others Anciently Pes Monetae , was and is of principal Consideration in this whole Affair : And therefore I hope your Lordships will Excuse me for having been so prolix in the Subject of the Standards . The Second General Head concerning the present State and Condition of the Gold and Silver Coins . IT cannot be thought improper before the Enterprizing of a Work of so great importance as the Re-establishment of the Moneys , and Determining a New Foot for the Course of the same , to be instructed ( with as much certainty as is possible in things of this Nature ) in the present State , Plight , or Condition of the Coins of this Realm ; wherein one must necessarily consider several Matters of Fact , whereof some can be known or found out , and others can only be estimated or guessed at . I have endeavoured , as much as I could in a little time , to Inform and Satisfie my self in the Particulars following : First , The several Forms or Fashions which have been used in the Fabrication of the Moneys , and which of them have been and are most likely to be most Secure against Clipping and Counterfeiting . Secondly , The Quantities of Silver Coins Clipt and Unclipt , that may be reasonably thought or imagined to remain in the Kingdom at this day . Thirdly , How far the Clipt Pieces now in being may be Conjectured to have been diminished in their Weight . And upon Consideration of these Articles , I have endeavoured to Compute the Loss , which ( upon Re-coining the Clipt Moneys ) must be born either by a Publick Aid , or by Particular Persons , or by both ; and to make such other Remarks and Inferences as may be suitable to the present Occasion : In all which , my Sence and Opinion are humbly presented to your Lordships in the manner following . As to the Particulars ; All the Moneys we have now in England , both Gold and Silver , are reducible to Two sorts ; the one Stampt with the Hammer , and the other Prest with an Engine , called the Mill. The Gold or Silver of the Hammer'd Money is first Cast from the Melting Pot into long Bars , those Bars are cut with Sheers into several square Pieces of exact Weights , for Sovereigns , Angels , Crowns , Half-Crowns , Shillings , &c. Then with the Tongs and Hammer they are Forged into a Round Shape ; after which they are Blanched ( that is , made White , or refulgent by Nealing or Boiling ) and afterwards Stampt or Impress'd with an Hammer to make them perfect Money . This Method of making Money with the Hammer ( as appears in the said Red Book ) was practised in the Reign of King Edward the First ; who ( amongst other great Archievements of his most Prudent Government ) left that of Restoring and Establishing good Moneys for the Use of his People , to recommend his Name to subsequent Generations . He sent for Mr. William de Turnemire , and his Brother Peter , and others from Marseilles , and one Friscobald , and his Companions from Florence , and Employed them in the Working this kind of Money , and the Buying and Exchanging of Silver for that purpose , for which he had Thirty Furnaces at London , Eight at Canterbury ( besides Three the Arch-Bishop had there ) Twelve at Bristol , Twelve at York , and more in other great Towns , in all which Places they made the said Hammer'd Money of Silver , supply'd by the Kings Changers Established at the same Places , who ( according to certain Rates or Prices prescribed to them ) took in the Clipt , Rounded and Counterfeit Moneys to be Re-Coined , and Bought Gold and Silver of the Merchants , and others , to be Fabricated into New Money ; at the same time Ordaining , Quod Proclametur per totum Regnum quod nulla fiat tonsura de Nova Moneta sub periculo Vitae & Membrorum & amissionis omnium Terrarum & Tenementorum , &c. And this kind of Hammer'd Money continued through all the Reigns of Succeeding Kings and Queens , till about the Year of our Lord , 1663. when by several Warrants , and Command of King Charles the Second , to wit , by One Warrant Dated the Fifth of November , 1662. One Warrant Dated the Eighth of April , 1663. And a Third Warrant Dated the Twenty fourth of December , 1663. The other sort called Milled Money was first Fabricated to be Currant in England in this manner : First , The Gold or Silver is cast out of the Melting Pot into long flat Bars , which Bars are drawn thorough a Mill ( wrought by a Horse ) to produce the just Thickness of Guineas , Half-Guineas , Crowns , Half-Crowns , Shillings , &c. Then with forcible Engines , called Cutters , which answer exactly to the respective Sizes or Dimensions of the Money to be made , the Round Pieces are cut out from the Flat Bar , shaped as aforesaid ( the Residue whereof , called Sizel , is Melted again ) and then every Piece is Weighed , and made to agree exactly with the intended Weight , and afterwards carried to other Engines ( wrought secretly ) which put the Letters upon the Edges of the larger Silver Pieces , and Mark the Edges of the rest with a Graining . The next thing is the Blanching perform'd , as above ; and at last , every Piece is brought to the Press , which is called the Mill ( wrought by the Strength of Men ) and there Receives the Impression , which makes it perfect Milled Money . By duly reflecting upon these different Kinds , and Considering that the Principal Offences against the Coins of the Realm , have been , and are either Clipping , Counterfeiting or Melting down , It may be proper to Remark , First , That the Crime of Clipping has been Practised upon the Hammer'd Money in all Ages more or less , but most exorbitantly of late Years ; notwithstanding the many Examples of Justice : For that the Offenders make an excessive Profit by doing a thing so easie in it self , that even Women and Children ( as well as Men ) are capable of the Act of Clipping or Rounding . But this Practice of Clipping has never been Exercis'd upon the Mill'd Money , and I think never can be , because of its Thickness and Edging , although no further Provision against the same should be made by Law. Secondly , That as to Counterfeiting , the Hammer'd Money is liable thereunto , because the Tools for Resembling the same , are cheap , and easily made and procured , and the Fabrication thereof may be performed in a little Room , and with less Art ; so that Smiths and other Artificers can readily attain thereunto . But the Engines for the Mill'd Money are many and very costly , not easie to be procured . The Makers or Users of such Engines cannot be conceal'd without great difficulty , and the Mill'd Money it self , being of a much Finer Print than the other , requires more Solemnity , Skill , and curious Workmanship in its Fabrication ; and when it 's finished , shews better the true Colour of the Silver , to distinguish its Genuine from its Counterfeit Pieces : Which latter could never be brought to Perfection . So that Reckoning only since the said Year 1663. ( without any regard to the Precedent time ) I verily believe for every single Piece of Mill'd Money , that has been Counterfeited , or rather been attempted to be Resembled , there have been more than One thousand of the Hammer'd Moneys not only Counterfeited , but actually Impos'd upon the People , who have been defrauded therewith , and are now likely to suffer greatly thereby . Thirdly , That as to the Crime of Melting down , it has plainly affected both the Hammer'd and Mill'd Moneys in their respective turns very fatally ; insomuch that the Hammer'd Gold Coins which were made in the Reigns of the several Kings and Queens , from Edward the First inclusively , till the beginning of the Reign of King Charles the Second ( which would amount to an incredible Sum , if they were all in being ) are almost totally vanished , having been Molten ( as I suppose ) from time to time , either to make Vessels or Utensils , or to Export for Lucre , or to Convert into Gold Coins of more Modern Stamps ( in which last Case the same Metal came to be Coin'd over and over again ) it being evident that we have now in England only the Pieces called Guineas , and Half-Guineas , or few other of Gold Coins , as is before observed . And I think the like must have been done with all the Hammer'd Silver Moneys that were made before the Reign of Queen Elizabeth , a very few only excepted ; although the latter would amount to many Millions , if they were all now in being . As to the Coins of that Queen , and her Two immediate Successors ( though they make the Bulk of our present Cash ) the Number of them must needs have been extreamly diminished by Melting , especially whilst they were weighty , and not much worn . But since the Mill'd Money came into Play , because of its Intrinsick Weight and Worth , I believe the Crime of Melting hath been chiefly practis'd upon that kind , which has apparently reduced it to a small Quantity . Nevertheless , when both kinds come to have the same Weight and Fineness , and to be Currant at the same Price , I think the one will not be more liable to this Mischief than the other ; and I hope both will be Secured against the same , when the Silver in the Coin will fetch as much as the Silver in the Bullion . Secondly , The Quantities of Silver Coins Clipt and Vnclipt that may be reasonably thought or imagined to Remain in the Kingdom at this day , cannot with any certainty be Computed . I know several Conjectures have been made thereof , very different , and ( as I think ) without any Grounds at all , and I confess my self to have none but such as follow . First , To Compute all the Silver Moneys Coin'd in the Three Reigns of Queen Elizabeth , Iames the First , and Charles the First . Secondly , To Guess how much thereof may have been Molten or Lost. Thirdly , To Substract the Latter from the Whole . And , Fourthly , To the Difference to add something for the small Remainder , as well of Moneys Coined before the Reign of Queen Elizabeth , as of those Coined since the Reign of Charles the First . The Silver Moneys Coin'd in the Reign of Queen Elizabeth ( as I am inform'd by the Master of the Mint ) did Amount to Four Millions Six hundred thousand Pounds : But by a Copy which I took some time since from the Archives at Westminster , of an Account which was Compiled by Arch-Bishop Williams , which I take to be more exact ( which Archives , with the Choice Collections thereof are since Burnt ) all the Silver Sterling Moneys Coin'd in the Reign of the said Queen , ( excluding some base Irish Moneys that were then made ) did Amount to — l. s. d. 4632932. 3. 2 ¾ The Silver Moneys Coin'd in the Reign of King Iames the First ( as the Officers of the Mint inform me ) cannot be known at their Office , because their Memorials thereof are either Imperfect or Lost : But by the abovesaid Copy I find , That in the first Twelve Years of his Reign there was Coin'd in Silver Sterling Moneys , One Million Five hundred fifty eight thousand and Fourteen Pounds , Nine Shillings and Nine Pence ; and I find , That in the last Seven years of his Reign , the Silver Moneys Coin'd did amount to One hundred and two thousand Nine hundred and eighty one Pounds Nine Shillings and eight Pence , and then adding 39004 l. o s. 7 d. by estimation for the Two or Three intermediate years of the same Reign , the whole of the Silver Sterling Money Coin'd by King Iames the First , was — l. 1700000. And it appears by an Account from the Officers of the Mint , That there was Coin'd of Silver Moneys in the Reign of King Charles the First - l. s. d. 8776544. 10. 3. l. s. d. In all 15109476. 13. 5¾ Now considering how far this Sum is to be abated . First , By the want of the Crowns , Half-Crowns , Groats , Quarter-Shillings , Half-Groats , Three-half-peny Pieces , Three-farthing Pieces , and Half-pence of Queen Elizabeth , which are wholly sunk . Secondly , By the Diminution of the Number of the Shillings , and Six-pences of the same Queen , many of which may be supposed to be Melted down , Re-Coined , or Lost. Thirdly , By the Loss of the Crowns , Groats , Two-Pences , Pence , and Half-Pence of Iames the First , and Charles the First , which seem to be quite gone , and by the Melting , Re-Coining , or Loss of many ( if not most ) of the Half-Crowns , Shillings , and Six-Pences of those Two Kings , one can hardly believe there is now in being , of the Coins of the said Three Reigns , above One Third Part , which Amounts to Five Millions Thirty six thousand Four hundred ninety two Pounds ; to which if there be added Five hundred Sixty three thousand Five hundred and eight Pounds more , for the Unmelted Silver Coins of Charles the Second , Iames the Second , King William and Queen Mary , and for the small Quantities which remain of those which were made before the Reign of Queen Elizabeth ; then the whole of the Silver Sterling Coins Clipt and Unclipt , Hoarded and Currant now in England , will be Computed at Five Millions and Six hundred thousand Pounds . And if it be Granted that Four Millions of this Sum consists of Pieces that are Diminished , some more , some less , by Clipping , then it will follow , that there remains in the Kingdom about One Million , and Six hundred thousand Pounds of Heavy Money , a great part of which is supposed to lie in Hoards , and the rest Currant chiefly in the Counties most remote from London . Thirdly , I am to Compute , as well as I can , How far the Clipt Pieces , now in being , may have been Diminished in their Weight . In reference to which , your Lordships may be pleased to be Reminded , That when the Earl of Rochester was Lord Treasurer , several Good Orders were Established by him for the Exchequer ; One of which was , to have all the Bags of Money there Received to be Weighed . And I have Extracted from the Books of One of the Tellers , the Weight of Five hundred seventy two Bags of One hundred Pound each , which were brought to the Receipt promiscuously , in the Months of May , Iune and Iuly last . Now , whereas the Weight of One hundred Pounds Sterling in Silver Moneys , according to the Standard of the Mint , ought to be Thirty two Pounds , Three Ounces , One Peny Weight , and Twenty two Grains Troy , and consequently the said Bags , containing Fifty seven thousand Two hundred Pounds by Tale , ought to have Weighed Two hundred twenty one thousand Four hundred and Eighteen Ounces , Sixteen Peny Weight , and Eight Grains Troy : It was found that the said Fifty seven thousand and Two hundred Pounds by Tale ( comprizing some Weighty Pieces , though few ) Weighed only One hundred and thirteen thousand Seven hundred and Seventy one Ounces and Five Peny Weight Troy. So that if all the said Sum of Fifty seven thousand and Two hundred Pounds by Tale were good Silver , yet it was Deficient in Weight , One hundred and seven thousand six hundred fourty seven Ounces , Eleven Peny Weight and Eight Grains Troy ; from whence I infer , First , That the Moneys commonly Currant are Diminished near one Half , to wit , in a Proportion something greater than that of Ten to Twenty two . Secondly , That going by the Medium of the said Number of Bags , and making but a very small Allowance for the Unclipt Pieces in the said Bags , and for the Difference of Money brought to the Exchequer , and that which passes amongst the Common People ( the former being in most Payments the best of the Clipt Moneys ) every one must be convinced , That if all the Clipt Pieces of Silver Moneys in England could be weighed together , they would be found Deficient a full Half of their Standard Weight . Again , Thirdly , If all the Pieces in England that are more or less Clipt , do Amount by Tale to Four Millions ( as is before supposed ) then I infer , That by Re-Coining the same upon the Old Foot , it will make but Two Millions , and the Loss would be as much : But by Re-Coining the same upon the Foot of Six Shillings and Three Pence for the present Crown Piece , as is above proposed , the same Quantity of Clipt Money will make Two Millions , and Five hundred thousand Pounds , and the Loss will be Fifteen hundred thousand Pounds , to be born either by Publick Aid , or by the Particulars interested in the Clipt Moneys , or by both . The Third General Head Discusses this Question , Whether it be or be not absolutely Necessary at this time to Re-establish the Coins . IT will readily be Granted , That the Melting and New Fabricating the much greater Part of all the Silver Moneys of the Realm ( as the Clipt Pieces are ) would be a Work very improper to be Enterprized in the heat of an Important and Expensive War ; if the doing thereof were not indispensibly necessary , to render effectual the very Ways and Means , which in Parliament may be Resolved upon , in reference to Aids or Supplies for Carrying on of the same War , and to produce a Species of Money that may be Useful and Serviceable for the Upholding of the Commerce , and for answering not only of the Publick , but also of all Private Revenues , Rents , Debts , and other Occasions , which concern the very Existence of the great Political Body . It were enough for me upon this Occasion , to say , That the House of Commons judg'd it necessary to have the Clipt Moneys Re-Coin'd , having Resolved thereupon , after many long and mature Deliberations , in the last Session of Parliament . But the Evils which for some time past have been growing upon us , in respect of the Coins , being at length actually Arrived , and more sensibly Felt , I shall take leave humbly to State the same according to the best of my Understanding , and submit the Judgment thereof to Publick Authority . First , Because such of the Silver Coins as are usually Currant , or offer'd in Payments , are very Bad and Defective ; the Common People ( without any visible Reason , other thanto avoid the Danger and Vexation of such Moneys ) by almost an Unanimous Consent and Agreement , do take Guineas at Thirty Shillings apiece , little more or less , which Raises the Gold here ( as hath been observed ) to a much higher Price in Proportion than Silver in Bullion now goes at , or that Silver in Coin will go for , when it shall be Raised to the Foot of Six Shillings and Three Pence for the Crown Piece according to this Projection . And this exorbitant Price of Gold here , hath encouraged Foreign Merchants to Import it upon us in great Quantities : And in Return for the same , They either Export our Silver in Coin or Molten ; which lying in a little Room , the Exportation thereof cannot easily be Prevented . Or , Secondly , They Buy our Native Commodities ( the Interruption of the Navigation , not Allowing us such an Overplus of Goods , brought from our Colonies in America , and other Foreign Parts , wherewith England in times of Peace could at least Ballance its Trade with its Neighbours . ) Or , Thirdly , They draw back the aforesaid Value of their Gold , by Bills of Exchange or Remittances . In every one of these Cases , they make an unreasonable Profit by their Gold , which must needs , in a little time , Exhaust a great part of the Real Stock and Wealth of our Nation ; But particularly in the first Case , the Bullion or Coin in Silver that is Exported , is really worth much more than the Gold Imported for it ; and the Difference becomes a Dead Loss to England , which Labours too much already under the Scarcity of Silver , and will inevitably find it much Scarcer and Dearer than it is , if this Golden Trade continues . In the Second Case , they can Furnish Foreign Markets with our Native Commodities , which would be carried thither by our own Merchants , who want the aforesaid Profit of the Gold , to enable them to Buy those Goods as Dear , and Sell them as Cheap as the Foreigners can . And in the Third Case , by the great occasion they have for Bills to draw back the Value of their Gold to the Places from whence it came , they have Contributed in a great measure towards Lowering the Exchange to the Low Countries ; which from divers Causes ( whereof the Importing of Guineas is none of the least ) is sunk so very Low , that the Publick loses about Four Shillings in the Pound upon all the Moneys Remitted thither ; which Loss Amounts to a great deal in the Charge of the Army . And the Exchange to Hamburgh and the East Countreys for all Naval Stores , and other Goods , is Lower , and to all Places in the Mediterranean ( where our Fleet is at present ) the Exchange is yet more to our Prejudice . And in regard the aforesaid excessive Advance of the Guinea Pieces , at least a great part thereof , can be Attributed ( as has been before observed ) to nothing else but the Baseness and Defects of the White Moneys , there is no Prospect of Reducing the Gold to a more moderate or reasonable Price , by any means consistent with the Interest of the Nation , other than the Amendment , and Restoring of the Silver Coins . Secondly , In the present Condition and Circumstances of our Silver Money , this Nation and the Trade and Dealings thereof , are in a great measure Deprived of the Use and Benefit of the whole Species now in being , as well the Heavy Pieces as the Light ; the former of which ( especially since the Parliament in the last Session appear'd desirous of making a Reformation or Amendment ) have been for the most part Hoarded by the particular Persons Possessed thereof , in prospect that the Silver contained in those Weighty Pieces will be Raised to a Value suitable to the Bullion thereof if Melted , which they may think will turn more to their Profit than Lending at Interest , Purchasing or Trading therewith in the mean time ; or at least they may think these Hoarded Moneys ( when the Mischiefs of Corrupting and Diminishing their Coins , come to their last Extremity ) will particularly stand those Men in stead that have them ; however it be , its certain the Weighty Moneys at present do very little appear Abroad , and it is not likely they will soon be brought to Light , without Raising their Value , and Re-Coining the Clipt Moneys ; and as for the latter , a great Part thereof , when offered in Payments , is utterly Refused , and will not Pass , and consequently doth not serve to the end or Purpose for which it was made : so that both the one and the other ( for the greatest Part ) are become as it were a Dead Cash in the Kingdom . Thirdly , In Consequence of the Vitiating , Diminishing and Counterfeiting of the Currant Moneys , it is come to pass , That great Contentions do daily arise amonst the King's Subjects , in Fairs , Markets , Shops , and other Places throughout the Kingdom , about the Passing or Refusing of the same , to the disturbance of the Publick Peace ; many Bargains , Doings and Dealings are totally prevented and laid aside , which lessens Trade in general ; Persons before they conclude in any Bargains , are necessitated first to settle the Price or Value of the very Money they are to Receive for their Goods ; and if it be in Guineas at a High Rate , or in Clipt or Bad Moneys , they set the Price of their Goods accordingly , which I think has been One great cause of Raising the Price not only of Merchandizes , but even of Edibles , and other Necessaries for the sustenance of the Common People , to their great Grievance . The Receipt and Collection of the Publick Taxes , Revenues and Debts ( as well as of Private Mens Incomes ) are extreamly retarded , to the Damage of His Majesty , and to the Prejudice of a Vigorous Prosecution of the War ; so that there were never ( at least since I had the Honour to serve the Crown ) so many Bonds Given , and lying Unsatisfied at the Custom-Houses , or so vast an Arrear of Excises . And as for the Land Tax , your Lordships know how far 't is affected with the Bad Moneys , by the many Complaints transmitted daily from the Commissioners , Receivers and Collectors thereof , and by Comparing the Sum brought into the Exchequer this Year , with the timely Payments of the like Tax in preceding Years . In fine , the Mischiefs of the Bad Money ( too many to enumerate ) are so sensibly Felt , that ( I humbly conceive ) they are sufficient to Confute all the Arguments against the Re-Coining the same in this time of War , and even the Objections against Raising the Silver in our Coin to the Propos'd Value . Which Arguments and Objections ( how Plausible or Weighty soever they have been heretofore ) have not at this time sufficient Ground or Reason to Support them , especially when the doing of these things is not Projected for the particular Gain or Profit of the Crown ( which formerly Received a Duty of Seigniorage upon Coining or Re-coining of Moneys ) but for the Common Good and Utility of the King and his People . But whether all the Evils and Mischiefs before mentioned , and the Increase thereof , which the Nation must undergo , till a Remedy be Applied , do infer , or are tantamount to an absolute Necessity for the present Enterprising the Work aforesaid , must be and is with all Humility submitted to a better Judgment than my own . The Fourth General Head is to propose the Means that must be Obtained , and the proper Methods to be used in and for the Re-establishment of the Silver Coins . IN Case His Majesty ( taking into His Princely Consideration the great Inconveniencies which the Nation Labours under by the badness of the Moneys ) shall be pleased to Direct , That all such Silver Coins called Crowns , Half-Crowns , Shillings or Testers , as have been formerly Coin'd in the Royal Mint , or Mints of England with the Hammer , and are more or less Diminished by Clipping , Rounding , Filing , or any other Artifice , shall be Melted and Re-Coin'd , my humble Opinion is , That the General Cautions following are to be Observed ; First , That the Work ought to be Performed and Finished in as little time as may be , not only to Obviate a further Damage by Clipping in the interim , but also that the needful Advantages of the New Money may be the sooner Obtained for the Service of the Nation . Secondly , That the loss , or the greatest part of it ought to be born by the Publick , and not by Particulars , who being very Numerous will be prejudiced against a Reformation for the Publick Benefit , if it is to be Effected at the Cost of particular Men , and who have great hopes of being Indemnified by the Votes Passed in their favour in the last Session of Parliament . Thirdly , This whole Affair must be rendered Easie , and very Intelligible to the Common People , so that they must not be compelled to Travel very far when they part with their Clipt Money , or when they receive back the Value of it in the New Coins ; and in the mean time they must be furnished with a Useful and Transferrable Credit that must take Place in Course of Repayment , as fast as the New Coins can be made . Fourthly , That no room must be left for Jealousie . And therefore all the Clipt Moneys in the several Counties , far or near , are not to be brought entirely to London , to be Minted there ; which would leave all the Countries very bare , and create great Suspicions till its Return . Fifthly , That as soon as the King's Officers begin to take in the Clipt Moneys , or presently after , the Course for Repaying the Stated Value thereof in New Moneys ought to begin also , and to be Carried on by the New Moneys , which shall be Coin'd from the Silver of the Old , so far as it will Extend ; And that an Aid be given in Parliament to Supply the residue , in such time and manner , as that there be no Interruption or Intervals in the Course of Repayment , till such times as the Registers for the Clipt Moneys to be brought in shall be fully satisfied . According to these General Propositions , and some other Requisites which have Occurred to me , I have imployed my Thoughts to Reduce this whole Affair into Practice , and do humbly Offer to your Lordships Consideration the Particulars following , as the Scope and Design of my Report : That is to say , First , That an Aid be granted in Parliament , and strictly Appropriated for or towards the making good of the Loss by the said Clipt Moneys , or so much thereof as shall be thought Reasonable to be Defrayed by the Publick , and the incident Charges which shall be necessary in the Performance of this Service . Which Aid , if it be Commensurate to the whole Loss , will , by Estimation , as above , Amount to Fifteen hundred thousand Pounds ; and if it be Resolved that the Publick shall bear but half the Loss , or any other part of it , then the Aid ( in the grant thereof ) may be proportioned accordingly . And the said Aid is humbly proposed to be either by a Land Tax of Twelve Pence in the Pound , or by a yearly Sum to be Answered out of the continued Impositions upon Goods imported , or some other certain Fond , to take Effect within a year to come at the farthest . Secondly , That all the New Moneys , whether they be Gold or Silver , shall in the Coining thereof be made in Fineness or Purity , according to the present Standard , that is to say , the Gold to be Twenty two Carats Fine and Two Carats Allay : And the Silver Coins to be Eleven Ounces Two Peny Weight Fine , and Eighteen Peny Weight Allay , for the Reasons above given . Thirdly , That every Pound Weight Troy of such . Gold , shall be cut into Eighty nine Half Guineas , or Fourty four Guineas and an Half , or proportionably for greater Pieces , as the same ought to be by the present Indenture of the Mint ; with a Remedy for the Master , of the Sixth Part of a Carat , in Case the Gold be found too strong or too feeble in Weight , or in Fineness , or in both . And that every Pound Weight Troy , of the New Silver Moneys , to be made as aforesaid , be cut into such Numbers of Pieces as will correspond in Weight with the Undimished Crowns , Half-Crowns , Shillings , Six-pences , Groats , Three-pences , Two-pences and Pence , Coin'd by the late Indentures , except the Twelve Peny Pieces , all which may be performed , as is above offered . And that the Master be allowed a Remedy of Two Peny Weight in every Pound Weight Troy , of the Silver Moneys , in case they be found too strong or too feeble in Weight , or in Fineness , or in both . Fourthly , That by Authority of Parliament , or by a Royal Proclamation to be Grounded on an Act of Parliament , the Silver Crowns , Half-Crowns , Shillings and Six-pences of the Lawful Coins of this Realm now in being , and not Diminished by Clipping , Rounding , Filing , Washing , or other Artifice , be Publickly Cried up , and Raised to the Foot of Seventy five Pence for the Crown , and proportionably for the rest , as I have also proposed ; and that the other small Pieces of the Old Coins ( which are few in number ) go as they do at present . And that the New Coins to be called the Scepire , or Vnite , the Half-Scepire , or Half-Vnite , the Testoon or Fifteen Peny Piece , the Shilling or Twelve Peny Piece , the Half-Testoon , the Gross or Five Peny Piece , Quarter-Testoon , the Half-Gross and Prime be made Currant upon the same Foot , as I have also propos'd , Pag. 61 , &c. Fifthly , That Coin , as well as English Bullion , not exceeding a limited Sum yearly , may be Exported for the Service of the present War by His Majesty's Warrant and Command , and not otherwise ; which will help to keep down the Price of Silver . Sixthly , That all the New Moneys be made by the Mill and the Press , and not by the Hammer . Seventhly , That all the present Silver Pieces called Crowns , Half-Crowns , Shillings and Six-pences of the Hammer'd kind , which are Diminished by Clipping , Rounding , Filing , Washing , or other Artifice , be Cried down , so as not to be Currant after a Day to be prefix'd . And that no Person whatsoever shall hereafter be obliged to accept in Legal Payment any Money whatsoever that is already Clipt , or may hereafter be Clipt or Diminished ; and that no Person shall Tender or Receive any such Money in Payment under some small Penalty , to be made easily Recoverable ; the Passing , Selling , or Changing of such Clipt or Diminished Moneys , in Order to the Re-Coining thereof , as is herein after mentioned , only Excepted . Eighthly , That no Crown Piece ( of Old Hammer'd Money ) shall be said or alledged to be Clipt or Diminished , or be Refused as such in any Payments whatsoever , if it hold Eighteen Peny Weight ; and proportionable Weight shall render the Half-Crowns , Shillings and Six-pences of the said Hammer'd kind to be Currant in all Payments ; which seems necessary , because of the wearing of the Old Pieces , though they are not Clipt . Ninthly , That besides the Principal Mint within the Tower of London ( where Six Presses can be wrought at the same time ) there be Settled and Established Nine other Mints within England and Wales , to Work with Two Presses in each , Namely , One at Newcastle upon Tyne , to serve principally for the Counties of Durham , Northumberland , Cumberland and Westmerland : One at York to serve for the Counties of York and Lancaster : One at Nottingham to serve for the Counties of Nottingham , Lincoln , Derby and Leicester : One at Chester , to serve for Cheshire , Staffordshire , Salop and North Wales : One at Hereford to serve for the Counties of Hereford , Gloucester Worcester and South Wales : One at Exeter to serve for Cornwall , Devon and Somerset : One at Salisbury to serve for the Counties of Wilts , Dorset and Hantshire : One at Oxon , to serve for the Counties of Oxon , Bucks , Warwick , and Berks : And One at Cambridge , to serve for Norfolk , Suffolk , Huntingdon , Cambridge and Bedfordshire ; and that at London will serve for the rest . Nevertheless these several Mints are not intended to be so Restrained but that a Man may carry his Money to any of them that lies most in his way ; whereby there may be Coined Weekly ( as I am inform'd ) about Fifty or Sixty thousand Pounds easily , which will finish the whole Work in much less than a Years time . And that the Dyes , Presses and other Implements may be providing with as much haste as is possible , so as to be all sit for Use by or before Christmas next . Tenthly , That the Warden , Master Worker , Comptroller , and Assay-Master of the Mint do continue at the Tower , and take the immediate Care of the Work there : And that they Substitute Fit and Skilful Persons as their Deputies ( such as the King , or the Lord Treasurer , or Commissioners of the Treasury for the time being , shall approve of , and such as must be Answer'd for by their respective Superiors ) to Carry on the Works of the said Nine Mints in the Countrey ; which Substitutes shall be all Sworn , for the faithful Discharge of their respective Trust ; and that the Members of the Corporation of the Moneyers , and other Ministers , Officers and Servants , be distributed accordingly , and small Private Marks ( if thought fit ) may be made to distinguish the Money that shall be Coin'd at the respective Mints . Eleventhly , That the Charge of making every Pound Weight Troy of Silver Moneys , which at present is One Shilling and Four Pence Half-peny , be made more Reasonable , now so much is to be Coin'd and Re-Coin'd . Twelfthly , That at or near every Town or Place where there shall be a Distinct Mint Established , as aforesaid , there shall be also Settled and Fixt an Office , which shall be , and be called An Office of the Kings Change ; and the Chief Officer therein ( to be Named by His Majesty , or the Lord Treasurer , or Commissioners of the Treasury for the time being ) shall be called The Kings Changer ; and that these Changers shall have Tellers or Substitutes under them . And they , as well as their Substitutes , shall be Sworn for the Due and Just Execution of their respective Trusts , with regard not only to the King , but also to every Person that shall have to do with them in respect of their Places . Thirteenthly , The said Officer called The Changer , with such Tellers or Substitutes as shall be necessary , shall daily and every Day ( Sundays only excepted ) attend at the Publick Office whereunto he or they shall be Assigned , or at some other Market Town within the Counties of his District ; and when he is to attend at such other Market Town , he shall cause the same to be Publickly Notified there , by Affixing a Paper in some open Place in the Market next preceding ; and at the said Publick Office , or at such other Market Towns , as aforesaid , the said Changer by himself , or by his Tellers or Substitutes , shall Receive and Take in all such Clipt or Diminished Money as are beforementioned , as any Person or Persons shall bring to him in order to be Recoin'd ; and in Performance of his Office or Duty , he or they shall be holden to Observe the Rules following . RULE I. HE or they shall carefully View and Examine by the Sight every Piece or Parcel of the said Moneys as shall be so brought in ; and if he or they shall Observe any Piece or Pieces , which shall seem to be so Weighty , as that by the Eighth Proposition , the same ought to be Currant upon the New Foot ( of Six Shillings and Three Pence for the Crown ) above-mentioned , he or they shall forthwith cause the Weight thereof to be Tried in the Scale ; and if he or they do thereby find , that such respective Piece or Pieces are of such Weight , as that the same ought to be Currant upon the said New Foot , without being Melted down , the same shall be immediately Marked ( with some Impression ) by a Hammer , and Redelivered to the Bringer thereof to be Currant at the Raised Value , intended as aforesaid . The Marking is Design'd chiefly to prevent his being troubled with it again at the Office. RULE II. IF the Changer , or his Teller or Substitute , shall suspect any Piece or Pieces of Money , brought in as aforesaid ( either Alone or in a Sum ) to be Counterfeit , or to be such money as was not Originally Coin'd in the Royal mint of England , that then , and in every such Case , he or they shall and may cause such Suspicious Piece or Pieces ( in the Presence of the Bringers ) to be Divided by Shears for that Purpose to be kept and used in the Office. And if upon Dividing the same , it shall Appear by the Grain or the Touch , that such Piece or Pieces are of the goodness of Sterling Silver , that then and in every such Case , he or they shall retain such Silver ( as if it were not divided ) in order to be Recoin'd . But if upon such Division , the Silver shall appear to be worse than the Goodness of Sterling , every Piece so divided shall be delivered back to the Bringer thereof , who in that case must be contented with his own again , in such a Condition that it will not serve to Defraud any Body else . RULE III. AS to all the said Clipt or Diminished Moneys , which shall consist of the Old Crown , holding any Weight less than Eighteen Peny Weight ; the Half-Crown holding any Weight less than Nine Peny Weight ; the Old Shilling holding any Weight less than Three Peny Weight , and Sixth Tenth Parts of a Peny Weight ; and the Old Tester or Six-pence holding any Weight less than One Peny Weight , and Eight Tenth Parts of a Peny Weight , which shall be so brought in to be Melted down and Recoined ; whereupon the loss above-mentioned is to be Born either by the State or by particular Persons , or Both ; It is not certain at present , how much of the said Loss , by the Resolution of the Parliament , shall fall upon the one or the other . Neverthelss , for the Explanation of this Project , and to shew how far it is practicable , one may ( as I humbly Conceive ) Assume any certain Part of this Loss , to be born by the Publick , as if it were Resolved . And Considering that One hundred Pounds by Tale of all these Clipt or Diminished Moneys , if they were in One Heap , would not ( by the Estimation which I have made thereof under the Second General Head ) hold above Sixteen Pound Weight Troy , or thereabouts , one with another ( which the King's Subjects dealing therein , do also find by daily Experience ) I do from thence infer , that if the said Sixteen Pounds Weight Troy ( which now Runs for One hundred Pounds by Tale ) be brought to the Changer , to be by him Received at Eight Shillings per Ounce ; then the said Eight Shillings per Ounce , when it comes to be Paid in the New Money , will Amount to Seventy six Pound and Sixteen Shillings , which will plainly cast about Half the Loss upon the State and the rest upon the Owner of the Money ( who will also find some Recompence in the Raised Value of his Unclipt Moneys , if he has any such . ) Therefore let Eight Shillings per Ounce in the New Money be the Assumed or Stated Price , to be Computed by the Changer , for all the real Silver which he shall find to be remaining in these Clipt Moneys ; which Method of making good part of the Loss to the Subject by Allowing him a large Price for every Ounce of the real Silver remaining in his Clipt Money , seems to me to be much more secure , and to be ( in all respects ) a better way , than by Allowing him a Market Price only for the said Silver remaining , and Contributing to his Loss in Proportion to the Deficiency or Silver Clipt off ; because in the latter Case it will be in his Power before he brings in his Money to Clip it over again , and Reduce it so low , as that the deficient Weight ( if it were to be made good at the Charge of the Publick ) might be Twice , Thrice , Four times , Five times , &c. as much as the real Silver brought in by him would amount to . Whereas by this Third Rule , the danger of far - Clipping is perfectly obviated , for no Man will Clip off Silver to Sell at Six Shillings Five Pence an Ounce by the Market Price , when he may carry it to the King's Change , and there Receive Eight Shillings per Ounce for it . RULE IV. WHereas the said Clipt Moneys , so to be brought in , do retain very different and uncertain Weights and Sizes , as they are more or less Clipt ; and it is evident that a Clipt Crown , holding more than Twelve Peny Weight and Twelve Grains , will produce more than Five Shillings in New Money if it should be Changed by it self at Eight Shillings an Ounce ; and an Half-Crown holding more than Six Peny Weight and Six Grains , will ( if it were Changed by it felf for Eight Shillings an Ounce ) produce more than Two Shillings and an Half in the New Money ; and the like may be said of the Old Shillings and Six-pences not Clipt to a lower Degree in Proportion . I have Considered ( although the Government would not suffer in this Case ) that Goldsmiths and other Subtil Dealers in Money , will be very apt ( if an effectual Remedy be not Provided against their Artifices ) to Cull out the Heaviest of their Clipt Pieces , and to get such into their Hands from their Neighbours , to Change them at Eight Shillings an Ounce , and thereby Gain for them more New Moneys in Tale than ever they Amounted to in their old Denominations . And in regard One hundred Pounds by Tale of the said Clipt Moneys , holding in Weight Two hundred and fifty Ounces Troy , when it is Changed at the said Rate of Eight Shillings an Ounce , will produce one hundred Pounds in Tale of the said New Moneys ; therefore it is Proposed , That every Person who brings any Clipt or Diminished Moneys to be Changed , as aforesaid , shall be obliged to mingle so many of his lighter Pieces with his heavier Pieces , as that upon the Draught or Weighing of them together , they may not at the said Rate of Eight Shillings an Ounce fetch more of the New Moneys in Tale than the said Clipt Money was Coined for in its Old Denominations , that is to say , One hundred Pounds by Tale of such Clipt Moneys , shall be so mingled with heavier and lighter Pieces as that it shall not exceed Two hundred and fifty Ounces in Weight ; and every other Sum of Clipt Money shall be restrained to the same proportion : This will effectually prevent the said trick of Culling , and create little or no Difficulty in Practice , because amongst all the Clipt Moneys , those which might be converted to the Advantage above-mentioned are few in comparison of the rest , and a Sum consisting only of such Weighty Pieces will not in probability ever be brought to the Changers by any , but by Crafty or Designing Men. And by this device your Lordships may be pleased to take notice that there will be no need of Weighing every individual Piece , which ( as I think ) would render the Work endless and impossible . The Changer , or his Substitute , when he shall have carefully Counted and Weighed the said Clipt Money ( observing the Caution aforesaid ) shall compute the Value to be paid for the same , at the said Rate of Eight Shillings an Ounce , and enter into a Leger Book to be kept for this purpose , the Day , Month and Year of his Receipt thereof , the Name of the Person that brings it , the Sum of the Clipt Money told , the exact Weight thereof , and the said Value which is to be paid for the same in New Moneys in several Columes to be made for that purpose , for which Value a Bill or Ticket is to be given , as is after-mentioned . RULE V. THe Changer , or his Substitute , shall from time to time deliver over the Clipt or Diminished Moneys , by him or them received and taken in , as aforesaid , to the proper Officer of the respective Mint for that District where it was Received , in Order to be Re-Coined , taking Receipts for the same , by the Weight and Tale of every Quantity so delivered over ; which Receipts are to be the Vouchers for the Account of the Changer , and the same , together with his Leger , will serve to Charge the Accounting Officer of the Mint . RULE VI. THat there shall be provided for every Changer a Book or Books , in which every Leaf shall be divided into Two Columes by a Figure or Cypher to be Printed therein , and shall be so drawn with Lines cutting the Cypher at Right Angles , as that Six Pair of Bills may be contained in every Leaf , and so that every Counter-part may be separated from its Principal Indent-wise , by cutting through the Cypher or Flourish , all which Bills shall be numbred in Pairs Arithmetically ( 1 , 2 , 3 , &c. ) as far as there shall be occasion , and there shall be Printed thereupon the Name of the Place ( where it is at last to be satisfied ) and other Words to this Effect : No. 1. Nottingham . This Bill Intitles the Bearer to the Sum of to be paid with Interest , after the Rate of Five Pounds per Centum per Annum out of the Fond Settled by Parliament for Satisfaction of the Register for Clipt or Diminished Money kept at the Place aforesaid . And the said Changer , or his Substitute , upon Adjusting ( by the Third and Fourth Rules aforesaid ) the Value which is to be paid in New Money for any Parcel of Clipt or Diminished Moneys brought in , as aforesaid , shall deliver to the Party bringing the same , an Indented Note ( to wit , one of those of the Extream Colume ) cut out from the said Book , and Signed by himself for the said Value , to be paid in Course as is hereafter mentioned , taking Care that the Sum Expressed in the Note so delivered be also Written in Words at length in the Counterpart remaining in the Book , which Book by this means will not only be useful and ready in the City or Countrey to Cheque the Principal Bill , if there should be occasion for so doing , but will also well serve for an Exact Register ( without making any other ) to Guide and Govern the Payment of the Principal in the due Course intended , and the just Computation and Payment of the Interest upon every such Bill . RULE VII . THat no such Bill shall be given , or asked for any Sum less then Twenty Shillings in Tale of the New Money ; and if several Pieces be brought to the Change for any Sum or Sums smaller then Twenty Shillings , several of them may be joyned in One Bill , which may be taken in such Name as the Owners of the Money shall desire ; and if they cannot agree , it may be in the Name of the Mayor , Bailiff , or other Chief Magistrate of the Place or ( if there be no Magistrate ) in the Name of the Minister of the Parish , in Trust for the several Owners of such small Sums . The Seven Rules before going concern the Duty and Office of the Changer only . Fourteenthly , That all the Silver which will arise from the said Clipt or Diminished Moneys , or from the Plate of the Vintners and Victuallers , or that shall be brought to be Coined by the Merchants , or by any other means , shall be Coined into Moneys , according to these Propositions . In the doing whereof the Chief Officers of the Mint , and all their Substitutes , Officers and Servants shall be subject to the same , or the like Constitutions and Orders touching Assaying , Melting , Refining , Trying , Charging , Discharging , or any Matters or Things relating to the Fabrication of these Moneys as are already Established for Moneys made at the Tower of London : And that the respective Substitutes shall be Accountable to their respective Superiours , and that the Superiour Officers shall be answerable to the King , as now they are . Fifteenthly , That the aforesaid Bills for the Values of the Clipt or Diminisht Moneys shall be payable to the respective Bearers , who shall shew forth , and bring in the same Bills , whereby the Property thereof will be easily Transferrable without Writing ; and the Voluntary Acceptance thereof in payment shall be a good Discharge , as if the Payment were made in Money . And the better to Encourage the Currancy of these Bills , it is Proposed , That they bear an Interest after the Rate of Five Pounds per Centum per Annum from the Date thereof ( which will plainly appear not only in the Bill it self , but in its Counter-part , remaining in the Register Book ) until its full Satisfaction . So that it cannot be doubted , but these Bills being Charged upon so good a Fond , in so near a Course , and made Profitable by the Interest , will be preferrable to the Bills of any Banks , or Goldsmiths , or private Persons whatsoever , and serve as well ( to all intents ) as so much Cash , whilst the Clipt Money is Converting into Sterling Money ; and for the sake of the Interest those that have the Clipt Moneys will bring them in the more speedily . Memorandum , As soon as the Bill becomes payable in Course , although the Owner do not fetch his Money , it must be reserved for him , only the Interest must cease from that time . Sixteenthly , That the time for taking in of the Clipt Moneys be limited to Six Months . Seventeenthly , For Settling and Establishing an Ample and Sufficient Fond and Security for the Payment and Satisfaction of the Principal and Interest , to be contained in the aforesaid Bills , in such due Course and Order as that every Person who parts with his Clipt or Diminished Moneys , may plainly see and be satisfied , That he or his Assigns shall certainly receive the Value thereof ; and that the Course of the Payments will Commence in a very little time , and be continued without any Interruption till the whole be compleated ( which will very much influence this whole Affair ) It is humbly propos'd that it may be Enacted as follows , 2 ly , That it shall and may be lawful to or for any Person or Persons , Bodies Politick or Corporate to Advance or Lend at the Exchequer , in such Unclipt Moneys as will be Currant by this Project , any Sum or Sums of Money not exceeding , Eight hundred thousand Pounds ( which by Estimation will make good so much of the loss as is to be born by the State , or Publick , if the Clipt Moneys are taken in at the said assumed Rate of Eight Shillings an Ounce ) and such Loans will consequently be accepted in Money at the Raised Value abovementioned . And the same , together with Interest after the Rate of Seven Pounds per Centum per Annum , may be Charged upon the aforesaid Aid , in the same manner as Loans at the Exchequer have usually been Charged upon other Aids . And that the Weighty Moneys that shall be so Lent , be also Appropriated , and be made Auxiliary to the Paying off the said Bills in the several Registers thereof , and be Applied , Distributed and Transmitted to and amongst the same , by the Commissioners of the Treasury , and the Lord Treasurer for the time being , in such Proporitons as they shall find to agree with the Sum , that shall be Due and Owing from time to time upon those Registers respectively . 3 dly , That any Merchant , or other Person whatsoever , having , or that shall have any Silver Bullion whatsoever , whether it be Foreign Silver , Plate in Vessels , the Silver of Counterfeit Moneys , or any other kind of Bullion whatsoever , shall have liberty to carry the same to any of the said Mints , and have it in his own Election , either to have it Coined into New Money , upon the New Foot to his own use ; in which case he must receive his Coin'd Money , according to the present Course of the Mint ; or else to declare that he will Lend the Value of it at the Exchequer , as part of the said Sum , not exceeding Eight hundred thousand Pounds . In which Case last mentioned , the Officers of the Mint shall Certifie to the Officers of the Exchequer the Quantity of Sterling Silver , or Silver reduced to Sterling , that shall be so delivered to them , and the Value thereof , after the Rate of Six Shillings and Five Pence Halfpeny an Ounce , and the Officers of the Exchequer , upon producing these Certificates shall give to the Party Tallies and Orders , Charged upon the said Aid , for the Values so Certified , as if it were Lent in the said Currant Money at the Receipt , in part of the said Sum not exceeding Eight hundred thousand Pounds , and for the Interest thereof . And in this Case the New Moneys which shall proceed from the Bullion so Lent , shall be Appropriated , and be Transmitted , and Distributed to and for the satisfaction of the said Registers , in the like manner as the other Moneys which shall be lent , as aforesaid . 4 thly , In Case the Silver of the Clipt Moneys , and such Loans , as aforesaid , shall not suffice to clear all the Registers , then the Remainder must be paid by the Overplus Moneys , to be Collected for the Aid it self ; and in Default thereof ( which is not very likely ) the last Deficiency ought to be paid out of the then next Moneys to be Raised by Parliament . Eighteenthly , That the present Coinage Duty may be Applied towards the Charge of the said Mints in general . Nineteenthly , That the Commissioners of the Treasury , or Lord Treasurer for the time being , and such Person as the King shall Appoint to be the Under Treasurer , or Supervisor for this purpose , shall have the Oversight , Rule , Order and Government of this Affair , according to the Laws that shall be Enacted for the same , and shall have power to Administer the Oaths , and take sufficient Securities in the Kings Name , from all the Officers belonging to the Change , and such of the Officers of the Mint as ought to give Security , and to require Weekly , or other Accounts from the several Offices , and particularly to cause the general Accounts of the said Changers , and of the Accompting Officers of the Mint , to be Passed in the Exchequer , in such due Form as they ought to be , and to allow such Salaries , and Incident Charges as shall be reasonable for the performance of this Service , and also to allow the reasonable wast in the Coinage . Twentieth , That all Persons Concerned may have free Access to the several Legers and Registers before-mentioned ; and no Fee or Charge shall be asked or taken of them , for any Matter or Thing which is to be done by any Officer in Execution of this Project . Twentyfirst , That at the First Session of Parliament after Michaelmas , 1696. the said Commissioners of the Treasury , or Lord Treasurer for the time being , and the said Under-Treasurer or Supervisor General for this Affair , shall deliver fairly Written to each of the Two Houses of Parliament , a True and Exact Account of all the Clipt or Diminish'd Moneys which shall have been brought in to be Recoin'd , by the Tale and Weight thereof , appearing in the respective Offices of the Changers ; and of all the New Moneys which shall have been Coin'd in the said several Mints , distinguishing those proceeding from the Silver of the Old Moneys from the Coins made of any other Bullion , and shewing particularly the Plate of the Retailers of Wine , Beer , and other Liquors , and the Quantities of Money made thereof ; also the Totals of the said Registers for the Values of the Clipt Money , and the Discharging of the same , and how much ( if any part ) shall then remain Unsatisfied , and the like Account shall be Presented to His Majesty . The Fifth General Head Considers what must Supply the Commerce , Pay Taxes , &c. whilst the Clipt Money is under its New Fabrication . THis Question is to be Answered , by Reminding your Lordships of several Particulars which have already occured in this Report , with a small Addition , as follows . First , The Weighty Money ( both Mill'd and Hammer'd ) now Hoarded , will come forth at a Raised Value , which ( according to the above Estimation ) may make One Million and Six hundred thousand Pounds more or less ; besides the Guineas and Half Guineas , which are but too numerous at their present Rate . Secondly , The Bills for the Clipt Money will be so Profitable and Certain , and have such a quick Course of Payment , as aforesaid , that they will serve as so much Running Cash ; and in the coming forth , the Number of them will encrease from day to day ; that from First to Last , they will by Estimation amount to above Three Millions . Thirdly , As those Bills are Paid off , the New Moneys Coin'd , with the Silver of the Clipt , will come in their stead , the Fabrication whereof will begin presently , and the Work will be Carried on with as much Expedition as can be made by Ten Mints . Fourthly , Importers of Bullion , and all others that have or can have any Foreign or English Silver ( even the Silver of Counterfeit Moneys ) in their Hands , will have a visible Encouragement to carry the same forthwith to the Mint to be Coin'd . Fifthly , It may be Enacted , That all Persons that Sell Wine , Strong-waters , Bear , Ale or other Liquors by Retail , shall by a Prefixt Day , bring their Tankards , Cups , Dishes and other Plate to some or one of the Mints , to be Coin'd into New Money , at the Rate of Six Shillings and Five Pence Half-peny an Ounce , under Pain of Forfeiture thereof , and that the New Money proceeding from the same shall be Delivered to them according to the present Course of the Mint . I have ( my Lords ) in this difficult Matter Considered and Digested as many things as were possible for me in so short a time ; and I cannot forbear ( before I end ) to Alledge , that if the Coins are to be Amended and Established according to these Propositions ( which may be Rectified and Improved by Men of greater Judgment and Skill ) I cannot foresee that even whilst the Work is Carrying on , there will Accrue such Publick Disorder , Damage or Distress , as the Nation Labours under before the Work is put in hand . All which is most humbly submitted to Your Lordships great Wisdom and Iudgment . WILLIAM LOWNDES . 12 Septemb. 1695 In quodam libro vocato nigro scripto tempore Regis Henrici Secundi , per Gervasium Tilburiensem , de Necessariis Scaccarii , remanente in Curia Receptae Scaccarii , inter alia sic continetur . Cap. 21. Officium Militis Argentarii & Fusoris . POrro Miles Argentarius ab inferiore Scaccario ad superius differt Loculum examinandi Argenti , cujus supra meminimus , quem cum intulerit Signatum Sigillo Vicecomitis , sub omnium oculis effundit in Scaccario xxiiii . Solidos quos de Acervo Sumptos prius Signaverit , factaque Commixtione eosdem , ut ponderi respondeant , mittit in unum Vasculum trutinae libram ponderis , in alterum vero de Denariis quod Oportuit , Quo facto , numerat eosdem ut ex numero constare possit , si legitimi ponderis sint , cujuscunque vero ponderis inventi fuerint , seorsum mittit in Ciffum libram unam , hoc est xx . Solidos , ex quibus examen fiat , reliquos vero xxiiii . Solidos mittit in Loculum . Item duo Denarii praeter libram examinandam dantur Fusori , non de Fisco , sed de parte Vicecomitis , quia in praemium sui laboris . Tunc eliguntur a Praesidente vel a Thesaurario , si ille absens fuerit , alii duo Vic. ut simul cum Argentario , Necnon & Vicecomite , cujus examen faciendum est , procedant ad Ignem , ubi Fusor ante praemonitus , praeparatis Necessariis , eorum praestolatur adventum . Ibi iterum praesente Fusore & hiis qui a Baronibus missi sunt , diligenter computantur , & Fusori traduntur . Quos ille Suspiciens manu propria numerat , & sic disponit eos in Vasculum ignitorum Cinerum quod in Fornace est . Tunc igitur Artis Fusoriae lege servata , redigit eos in Massam , constans & emundans Argentum : Caeterum cavendum est ei , ne citra perfectionem subsistat , vel importunis aestuationibus vexet illud atque consumat . Illud propter Regis , hoc propter Vicecomitis Iacturam , set Modis omnibus provideat & quanta procuret industria ut non vexetur , set ad purum tantum excoquatur , hoc autem ipsum providere dicunt hii qui ad idem missi sunt a Majoribus . Facto igitur examine defert illud Argentarius ad Barones , Comitantibus illis , & tunc in omnium Oculis ponderat illud cum libra praedicta ponderis , supplet autem mox quod ignis consumpsit , appositis denariis ejusdem loculi , donec aequilibriter se habeat examen cum pondere . Tunc inscribitur idem examen desuper ducta Creta hiis verbis , Everwicscir , libra arsit tot vel tot denarios , & tunc illud Essaium dicitur . Non enim inscribitur nisi praeconcessio quod sic stare debeat . Quod si Vicecomes , cujus est , Calumpniatus fuerit , illud quasi plus justo consumptum fuerit ignis scilicet exaestuatione vel plumbi infusione , vel & Fusor ipse , qualibet Occasione defecisse fateatur examen , iterum numerentur xx . Solidos qui residui sunt in loculo praedicto , coram Baronibus sicut demonstratum est , & eadem ratione Servata , fiat examen . Hinc igitur constare potest , qua consideratione de acervo magno propositae pecuniae xliiii . Solidos seorsum ab initio mittantur in Loculum , apposito Vicecomitis Sigillo . Notandum vero est , quod Fusor duos percipit denarios pro Examine , sicut diximus . Quod si quovis Casu aliud faceret , & si tertio examinaverit , non percipiet quicquam , set contentus erit semel susceptis duobus . Discipulus . Miror a tantis tantam adhiberi diligentiam in unius librae examinatione , cum nec magnus ex ea quaestus nec multa jactura proveniat . Magist. Non propter hanc tantum fiunt haec , set propter omnes illas quae ab eodem Vicecomite sub eodem nomine firme simul cum hac persolvuntur . Quantam enim ab hac libra per ignem purgatorium decidit , tantundem ex singulis aliis libris Noverit Vice-comes de summa sua substrahendum , ut si centum libras numeratas solverit , & libra examinis iii. denarii exciderint , Non computentur ei nisi nonaginta quinque . A Computation of the Common Weight of a Hundred Pounds by Tale , in Ordinary Silver Money at this Day , taken from a Medium of the Bags , Weighed at the Receipt of Exchequer , in May , June and July last . Memorandum , The Weight of One hundred Pounds by Tale in Silver Moneys , according to the Standard of the Mint , ought to be Thirty two Pounds Three Ounces , One Peny Weight and Twenty two Grains Troy. No. Bags What they ought to Weigh . Weight at the Exchequer . Deficiency .   oz. dw . gr . oz. dw . gr . oz. dw . gr . 40 15483 16 16 8095 5 0 7388 11 16 74 28645 1 20 14373 5 0 14271 16 2 133 51483 14 22 27318 0 0 24165 14 2 120 46451 10 0 23496 15 0 22954 15 0 105 40645 1 6 20899 15 0 19745 6 6 100 38709 11 16 19588 5 0 19121 6 16 572 221418 16 08 113771 05 0 107647 11 08   oz. dw . gr . The Medium of the Weight of each Hundred Pounds — 198 18 00⅓ fere . The Medium of the Deficiency — 188 03 21⅔   387 01 22 FINIS . THe Amendment of the Silver Coins , being lookt upon as a Matter necessary to be Perform'd , it is thought convenient that this Report should be Printed , to the end that any Persons who have Considered an Affair of this Nature , may ( if they please ) Communicate their Thoughts , for Rendring the Design here aim'd at more Perfect or Agreeable to the Publick Service . Notes, typically marginal, from the original text Notes for div A49333-e80 * Vide Hales of Sheriffs Abcounts . p. 5. 18 E. 3. 1 H. 8. 23 H. 8. 34. 36. 37. 1 E. 6. 3. 4. 5. 6. 6 E. 6. 1 Mar. Phil. & Mar. 2 Eliz. Eliz. Vide Cotton's Speech to Cha. 1. Anno 1626. 19 Eliz. 25. 26. 35. 43. Jac. 1. 3 Jac. 1. 10. 2 Car. 1. 12 Ca. 2. 22 Ca. 2. 1 Jac. 2. 1 W. & M. 28 E. 1. 18 E. 3. Eod. an . 20 E. 3. 23. 27. 30 E. 3. 37. 46. 18 R. 2. 3 H. 4. 9 H. 5. 1 H. 6. 4 H. 6. 24. 49. 4 E. 4. 5. 8 E. 4. 11. 16. 22. 1 R. 3. 9 H. 7. 1 H. 8. 23 H. 8. 34 H. 8. 36. 37 H. 8. 1 E. 6. Eod. an Eod. an . 2 E. 6. Eod. an . Eod. an . 3 E. 6. 4 E. 6. 5 E. 6. 6 E. 6. 1. M. 2 Eliz. 19 Eliz. 25 Eliz. 26. 35. 43. 2. Jac. 1. 3. Jac. 1. 9. 2 Car. 1. 12 C. 2 22. 1 Jac 2 1 W & M. Memorandum , Moneys Clipt or Unclipt , are afterwards Described by certain Weights . * 9 F. 3 & 17 R. 2 . Prohibited Goldsmiths and others to Melt down small Coins , under pain of forfeiture of the Molten Silver . 14. Car. 2 . Prohibited the Melting any the Silver Moneys , under pain of Forfeiting the Same , and double the Value ; if by a Freeman , he is to be Disfranchised ; and if not a Freeman , he is to be Imprisoned Six Months . 6 & 7 W. & M makes the Conviction of Melters more Practicable , and inflicts Six Months Imprisonment for the Offence . See the Annext Account for this . 
B05554	----	Proclamation crying down the English milned crowns and half-crowns ordaining the old-merk and half-merk-pieces to pass, and stopping the taking of bullion, at the mint-house. Scotland. Privy Council. 1696 Approx. 6 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). B05554 Wing S1734 ESTC R183429 52528946 ocm 52528946 179013 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B05554) Transcribed from: (Early English Books Online ; image set 179013) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2776:2) Proclamation crying down the English milned crowns and half-crowns ordaining the old-merk and half-merk-pieces to pass, and stopping the taking of bullion, at the mint-house. Scotland. Privy Council. Scotland. Sovereign (1694-1702 : William II) 1 sheet ([1] p.) Printed by the heir of Andrew Anderson, Printer to his most excellent Majesty, Edinburgh : Anno 1696. Caption title. Royal arms at head of text; initial letter. Dated: Given under Our Signet at Edinburgh the twenty one day of May, and of Our Reign the eight year, 1696. Signed: Gilb. Eliot Cls. Sti. Concilii. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Scotland -- Early works to 1800. Finance, Public -- Law and legislation -- Scotland -- Early works to 1800. Broadsides -- Scotland -- 17th century. 2008-05 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-09 John Pas Sampled and proofread 2008-09 John Pas Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion PROCLAMATION Crying down the English Milned Crowns and Half-Crowns : Ordaining the Old-Merk and Half-Merk-Pieces to Pass , and stopping the taking of Bullion , at the Mint house . WILLIAM by the grace of God , King of Great-Britain , France and Ireland ; Defender of the Faith , To _____ Macers of Our Privy Council , Messengers at Arms , Our Sheriffs in that part , Conjunctly and Severally , Specially , Constitute , Greeting : Forasmuch as by a Proclamation of the Date the twelfth Day of July , one Thousand six Hundred and Ninety five Years : The rate of the silver Milned Crown of England , was raised to three Pound six Shilling , and the English milned Half Crown proportionally : And it being found prejudicial to the Nation , that the said English Crowns and Half - Crowns should pass at a greater Rate in this Kingdom , than they do in England . Therefore , We with Advice of the Lords of Our Privy Council ; have thought fit to Cry down the said Milned English Crowns and Half - Crowns to the former Rate of Three pound , and one pound ten shilling Scots respective , and ordains the samen only to pass at the saids Rates , and Discharges our General Master and other Officers of our Mint to receive or take in the saids English Crowns or Half-Crowns , as Bullion , or any other Bullion to be Coined , after the Day & Date hereof , until further Order from the Lords of Our Privy Council , under the pain of Tinsel of their respective Offices , in case they Contraveen , and to be otherwise punished as Our Privy Council shal think fit . And Prohibits and Discharges all Gold-smiths and others to Melt down the saids English Crowns and Half - Crowns , under the pain of double of the Value of the said Money that shal be so melted down : And Ordains the Magistrats of Royal Burghs , and Burghs of Regality , & others within whose Bounds & Jurisdictions , there is any Gold-smiths or others Melters of Mony ; To take Bond from the saids Goldsmiths and others , that they shal not melt down the saids English Crowns and Half - Crowns , under the pain foresaid : And impowers the saids Magistrats to take the Oaths of the Goldsmiths and others foresaids , that dwells within their respective Burghs and Jurisdictiors , once every half year , and oftner if they see cause , or when Persons Informs against them , if they have melted down any of the saids Milned English Crowns , or Half-Crowns , that they may be punished in manner Above-mentioned ; the one half of the value of what shall be Proven to be melted down to be applyed for the use of the Burgh within which the saids Gold-smiths , or other Person who shall Contraveen dwells , & the other half to the Informer . And forasmuch as , that notwithstanding of a former Proclamation , of the date the twenty eight of January last , Ordaining the Old Scots Merk , and half Merk Pieces to Pass amongst all Persons within this Kingdom as current Mony , yet many presume to refuse the saids Old Merk and Half-merk pieces in payments , upon pretence that by long use they are become Barer , and appears Thinner , albeit they be not Clipt , and it being necessar that the said Abuse should be obviat : Therefore , and in Pursuance of the said Proclamation , We with Advice foresaid , Require and Impower all Magistrats of Burghs , Sheriffs , Baillies of Regalities , Stewarts and their Deputs , and all Justices of Peace to cause to pass the said old Merk and half Merk-Pieces , which are only worn Barer & Thinner through time , and are not Clipped , and to be received in all Payments within their Respective Jurisdictions , and to judge of all Debates arising thereanent ; and to punish the Refusers of the saids Old Merk and half Mark Pieces , by fyning them summarly for their Disobedience , not exceeding the double of the Mony wrongously refused to be payed to the Party who offers to pass the samine . OUR WILL IS HEREFORE , and We Charge you strictly , and Command , that incontinent these Our Letters seen , ye pass to the Mercat-Cross of Edinburgh , and to the Mercat-Crosses of the remanent Head-burghs of the several Shires & Stewartries within this Kingdom , and there in Our Name and Authority , by open Proclamation make Intimation hereof , that none pretend Ignorance : And Ordains these presents to be Printed . Given under Our Signet at Edinburgh the Twenty one Day of May , and of Our Reign the Eight Year , 1696. Ex deliberatione Dominorun Secreti Concilii . GILB , ELIOT Cls. Sti. Concilii GOD save the KING . Edinburgh , Printed by the Heirs and Successors of Andrew Anderson , Printer to His most Excellent Majesty , Ano DOM. 1696. 
B05556	----	A proclamation declaring old un-clipt merk-pieces, and broad un-clipt English money to be currant. Scotland. Privy Council. 1696 Approx. 2 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). B05556 Wing S1737 ESTC R183431 52529267 ocm 52529267 179014 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B05556) Transcribed from: (Early English Books Online ; image set 179014) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2776:3) A proclamation declaring old un-clipt merk-pieces, and broad un-clipt English money to be currant. Scotland. Privy Council. Scotland. Sovereign (1694-1702 : William II) 1 sheet ([1] p.) Printed by the heirs and successors of Andrew Anderson, Printer to the Kings most excellent Majesty, Edinburgh : 1696. Caption title. Royal arms at head of text; initial letter. Intentional blank spaces in text. Dated: Given under Our Signet in Edinburgh, the twenty eighth day of January, and of Our Reign the seventh year, 1696. Signed: Gilb. Eliot, Cls. Sti. Concilii. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Scotland -- Early works to 1800. Finance, Public -- Law and legislation -- Scotland -- Early works to 1800. Broadsides -- Scotland -- 17th century. 2008-05 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-09 John Pas Sampled and proofread 2008-09 John Pas Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion A PROCLAMATION Declaring old Vn-clipt Merk-Pieces , and broad Vn-clipt English Money to be Currant . WILLIAM by the Grace of God , King of Great-Britain , France , and Ireland , Defender of the Faith , To _____ Macers of Our Privy Council , Messengers at Arms , Our Sheriffs in that part , conjunctly and severally , specially Constitute ; Greeting , Forasmuch as , We are informed , that several of Our Subjects within this Our Ancient Kingdom of Scotland , Have of late at their own hands , without any Warrand , taken upon them to refuse the old Scots Merk-Pieces , and their Fractions , albeit they be not Clipped ; and the broad Un-clipped English Money , to the great Interruption of Trade , and hindering the payment of Lawful Debts : Therefore , We with Advice of the Lords of Our Privy Council , Do hereby peremptorly Ordain , and Command the saids old Un-clipped Merk-Pieces , and their Fractions , and all broad Un-clipped English Money , to be Currant , and to pass among all Persons within this Kingdom , in all Payments , whether of Debts , Merchandize , or others whatsomever , And Discharges any Persons to refuse the same , as they will be answerable . Our Will is Herefore , and we Charge you strictly , and Command , That in Continent thir Our Letters seen , ye pass to the Mercat-Cross of Edinburgh , and to the Mercat-Crosses of the remanent Head-Burghs of the several Shires and Stewartries within this Kingdom , and There in Our Name and Authority , by open Proclamation , make Intimation hereof , that none may pretend ignorance . And Ordains these Presents to be Printed . Given under Our Signet at Edinburgh , the Twenty eighth day of January , and of Our Reign the Seventh year , 1696. Per Actum Dominorum Secreti Concilii . GILB . ELIOT Cls. Sti. Concilii . GOD Save the King. Edinburgh , Printed by the Heirs and Successors of Andrew Anderson , Printer to the Kings Most Excellent Majesty , 1696. 
B05559	----	Proclamation discharging all English unmilln'd-money to pass, except by weight, and allowing and crying-up the English milln'd crown to three pound five shilling, with it's fractions proportionally. Scotland. Privy Council. 1697 Approx. 4 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). B05559 Wing S1740 ESTC R183434 52529268 ocm 52529268 179016 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B05559) Transcribed from: (Early English Books Online ; image set 179016) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2776:5) Proclamation discharging all English unmilln'd-money to pass, except by weight, and allowing and crying-up the English milln'd crown to three pound five shilling, with it's fractions proportionally. Scotland. Privy Council. Scotland. Sovereign (1694-1702 : William II) 1 sheet ([1] p.) Printed by the heirs and successors of Andrew Anderson, Printer to the King's most excellent Majesty, Edinburgh : Anno 1697. Caption title. Intentional blank spaces in text. Dated: Given under Our Signet at Edinburgh the twenty third day of January, and of Our Reign the eight year. Signed: Gilb. Eliot, Cls. Sti. Concilii. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Scotland -- Early works to 1800. Finance, Public -- Law and legislation -- Scotland -- Early works to 1800. Broadsides -- Scotland -- 17th century. 2008-05 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-09 John Pas Sampled and proofread 2008-09 John Pas Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion PROCLAMATION Discharging all English Vnmilln'd-Money to pass , except by Weight , and Allowing and Crying-up the English Milln'd Crown to Three Pound five Shilling , with it's Fractions proportionally . VVILLIAM by the Grace of GOD , King of Great-Britain , France and Ireland , Defender of the Faith ; To _____ Macers of our Privy Council , Messengers at Arms , Our Sheriffs in that Part , conjunctly and severally , specially Constitute , Greeting : For as much as , this Our Ancient Kingdom is much prejudged by the importing of great Quantities of Light unmilln'd English Money into the same , and that the Inconveniency thereby arising , is likely to increass , since that kind of Money is no more current in the Kingdom of England , except by Weight ; And also We considering how expedient it is , that the Milln'd-Money of England be raised , to a Proportion with other Coyns presently current within this Kingdom : Therefore , We with Advice of the Lords of Our Privy Council , have Discharged , and hereby discharge all English Unmilln'd-money to pass in payments otherways than by Weight , at Four Shilling Scots the Drop , making three Pounds four Shillings Scots for the Ounce , and so proportionally upwards and downwards , according to the lesser and greater Weight than the said Drop and Ounce ; Providing , that in great payments the weighing be by single Ounces , and their Fractions , and no greater Weight : And We with Advice foresaid , peremptorly Require and Command all our Subjects to receive the said English Unmilln'd-Money in all Payments , as current Money , according to the Rate of Four shilling Scots the Drop-weight , and no otherwise , under the Pain of being lyable to the Double of what shall be refused , to be summarly exacted , at the Instance , and for the use of the Offerer , by the Determination of any Judge ordinary , to be given without any Process of Law ; As also , We with Advice foresaid , have Ordained , and hereby Ordain the Silver Milln'd-Crown of England , to pass , and be received in all Payments , at Three Pound five Shilling Scots , and the milln'd Half crown , milln'd Shilling , and milln'd Sixpence of England , as the Fractions of the said milln'd Crown , to pass , and be current in all Payments within this Our Kingdom , according to the said Rate of the Crown proportionally to their Value , under the pain foresaid , to be determined in manner above mentioned , and that none refuse to receive Payments in the respective Species of Money from the Day and Date hereof , at the Rates above-specified , under the Pains foresaids , as they will be answerable . OUR WILL IS HEREFORE , and We Charge you strictly , and Command , that incontinent these Our Letters seen , ye pass to the Mercat-Cross of Edinburgh , and to the Mercat-crosses of the remanent Head-Burghs of the several Shires and Stewartries within this Kingdom , and thereat in Our Name and Authority , by open Proclamation , make Publication hereof that none pretend Ignorance : And Ordains these presents to be Printed . Given under Our Signet at Edinburgh the twenty third day of January , and of Our Reign the eight year . Per Actum Dominorum Secreti Concilii . GILB . ELIOT . Cls. Sti. Concilii . GOD save the KING . Edinburgh , Printed by the Heirs and Successors of Andrew Anderson , Printer to the King 's most Excellent Majesty , Anno 1697. 
B05563	----	A proclamation discharging English clipt-money. Scotland. Privy Council. 1695 Approx. 3 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). B05563 Wing S1744 ESTC R233589 52529270 ocm 52529270 179018 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B05563) Transcribed from: (Early English Books Online ; image set 179018) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2776:7) A proclamation discharging English clipt-money. Scotland. Privy Council. Scotland. Sovereign (1694-1702 : William II) 1 sheet ([1] p.) Printed by the heirs and successors of Andrew Anderson, Printer to his most excellent Majesty, Edinburgh : Anno Dom. 1695. Caption title. Initial letter. Intentional blank spaces in text. Dated: Given under Our Signet, at Edinburgh, the sixteenth day of May, and of Our Reign the seventh year. Signed: Gilb. Eliot. Cls. Sti. Concilii. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Scotland -- Early works to 1800. Finance, Public -- Law and legislation -- Scotland -- Early works to 1800. Broadsides -- Scotland -- 17th century. 2008-05 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-09 John Pas Sampled and proofread 2008-09 John Pas Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion A PROCLAMATION Discharging English Clipt-Money . WILLIAM by the Grace of GOD , King of Great Britain , France and Ireland , Defender of the Faith to _____ Macers of Our Privy Council , Messengers at Arms , Our Sheriffs in that part , conjunctly and severally , specially constitute , Greeting ; Forasmuch as , the Leidges of this Our Antient Kingdom , do sustain a great and growing Prejudice , by the Inbringing and Passing of English Clipt Money , which is far under the true Value . Therefore , and for Remedy of the foresaid Abuse , We with Advice of the Lords of Our Privy Council , have thought fit to Discharge , likeas We hereby Discharge the said English clipt Money to pass in payments , from , and after the Twentieth day of this instant Month of May , except by Weight , conform to the Standard of this Kingdom , at the Rate after-mentioned , viz. The Crown Peice at the Rate and Weight of fourteen Drop and an half , the Half Crown Peice , at seven Drop and nine Grains , the Shilling Sterling Piece , at two Drop , thirty two Grains , and the Six-pence Sterling Piece , at one Drop and sixteen Grains ; declaring , that none of Our Leidges shall from and after the said day , be oblidged to take the same in payments , save by Weight , as said is , providing , nevertheless , that all English Money Vnclipt , shall pass after the same manner , and at the same Rate as it was in use to pass , before the emitting of this Proclamation . OUR WILL IS HEREFORE , and We charge you strictly , and Command , that incontinent thir Our Letters seen , ye pass , to the Mercat-cross of Edinburgh , and remanent Mercat-crosses of the hail Head-burghs of all the Shires within this Kingdom ; and there by open Proclamation , make Intimation hereof , that none may pretend Ignorance ; and ordains these presents to be printed . Given under our Signet , at Edinburgh , the sixteenth day of May , and of Our Reign the seventh Year . Per Actum Dominorun Secreti Concilii . GILB . ELIOT . Cls. Sti. Concilii . GOD save the KING . Edinburgh , Printed by the Heirs and Successors of Andrew Anderson , Printer to His most Excellent Majesty , Anno Dom. 1695. 
B05565	----	A proclamation discharging forraign copper or brass-coyn. Scotland. Privy Council. 1697 Approx. 3 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). B05565 Wing S1746 ESTC R183438 52528949 ocm 52528949 179019 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B05565) Transcribed from: (Early English Books Online ; image set 179019) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2776:8) A proclamation discharging forraign copper or brass-coyn. Scotland. Privy Council. Scotland. Sovereign (1694-1702 : William II) 1 sheet ([1] p.) Printed by the heirs and successors of Andrew Anderson, Printer to the Kings most excellent Majesty, Edinburgh : Anno Dom. 1697. Caption title. Initial letter. Intentional blank spaces in text. Dated: Given under Our Signet at Edinburgh the fourth day of May, and of Our Reign the ninth year 1697. Signed: Gilb. Eliot. Cls. Sti. Concilii. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Scotland -- Early works to 1800. Finance, Public -- Law and legislation -- Scotland -- Early works to 1800. Broadsides -- Scotland -- 17th century. 2008-05 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-09 John Pas Sampled and proofread 2008-09 John Pas Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion A PROCLAMATION Discharging Forraign . Copper or Brass-Coyn . WILLIAM by the Grace of God King of Great-Britain , France and Ireland , Defender of the Faith ; To _____ Macers of Our Privy Council Messengers at Armes , Our Sheriffs in that part Conjunctly and severally specially constitute greeting ; For as much as , We understand that several Persons both Natives and Forraigners , presume to import into this Kingdom Forraign Black-money , as the Black-money called French Doyets and Irish Half-pennies , or other Copper or Brass Coyn of that Sort , which is contrary to the Laws of this Our Antient Kingdom , and manifestly prejudicial to the Mint and Covnage thereof ; Therefore , We with Advice of the Lords of Our Privy Council , have thought fit to discharge , & hereby do discharge all Forraign Black-money , and all Brass or Copper Coyn whatsomever not Coyned at Our Mint , In this Our Antient Kingdom , to be thereunto imported under the pain of Confiscation of what shall be imported in the contrary , and such other pains as the Laws inflict on the saids importers . And farder We with advice foresaid , ordain that no such Forraign Black-money or Copper or Brass-Coin not Coined within this Our Realm , have course therein , or be offered in Payments after the Day and Date hereof , under the Pain of Ten pounds , toties quoties , to be exacted by the next Magistrat , in case of transgressing the the Premisses , by and attour the Confiscation of the Brass and Copper-Money to be imported , or offered in payments contrair hereunto . OUR WILL IS HEREFORE , and We charge you strictly , and Command , that incontinent these Our Letters seen , ye pass to the Mercat-Cross of Edinburgh , and remanent Mercat-Crosses of the Head-burghs of the several Shires and Stewartries within this Kingdom , and therein Our Name and Authority , by open Proclamation , make Intimation hereof that none pretend Ignorance ; And Ordains these Presents to be Printed . Given under Our Signet at Edinburgh the fourth day of May , and of Our Reign the Ninth Year 1697. Per Actum Dominorum Secreti Concilii . GILB . ELIOT . Cls. Sti. Concilii GOD save the King. Edinburgh , Printed by the Heirs and Successors of Andrew Anderson , Printer to the King 's most Excellent Majesty , Anno Dom. 1697. 
B05572	----	Proclamation discharging the base cooper [sic] money, coyned in Ireland by the late King James, in 1689, and 1690. Scotland. Privy Council. 1695 Approx. 3 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). B05572 Wing S1757 ESTC R183444 52528951 ocm 52528951 179023 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B05572) Transcribed from: (Early English Books Online ; image set 179023) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2776:12) Proclamation discharging the base cooper [sic] money, coyned in Ireland by the late King James, in 1689, and 1690. Scotland. Privy Council. Scotland. Sovereign (1694-1702 : William II) 1 sheet ([1] p.) Printed by the heirs and successors of Andrew Anderson, Printer to his most excellent Majesty, Edinburgh : anno Dom. 1695. Caption title. Royal arms at head of text; initial letter. Intentional blank spaces in text. Dated: Given under Our Signet at Edinburgh, the seventh day of March, and of Our Reign the sixth year, 1695. Signed: Gilb. Eliot. Cls. Sti. Concilii. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Scotland -- Early works to 1800. Coinage -- Ireland -- Early works to 1800. Finance, Public -- Law and legislation -- Scotland -- Early works to 1800. Broadsides -- Scotland -- 17th century. 2008-05 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-09 John Pas Sampled and proofread 2008-09 John Pas Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion PROCLAMATION , Discharging the base Copper Money , Coyned in Ireland by the late King James , in 1689 , and 1690. WILLIAM by the Grace of GOD , King of Great-Britain , France and Ireland , Defender of the Faith ; To _____ Macers of Our Privy Council , or Messengers at Arms , Our Sheriffs in that part , conjunctly and severally , specially Constitute Greeting : Forasmuch as , it is Informed that there are great quantities of base Brass or Copper-Coyn , Coyned in Ireland , by the Command of the late King James , in the years One thousand six hundred and eighty nine , and one thousand six hundred and ninety , to pass for Shillings , Half-Crowns , and other species , bearing upon one of the two sides of the Shillings , the number of twelve marked thus , XII . with the mark of J. R. The Half-Crowns the number of XXX . with the said mark J. R. and so of other species : Imported into this Kingdom , and vented for six peny Scots Pieces , or otherwise , whereby Our Leidges are greatly abused : Therefore We , with Advice of the Lords of Our Privy Council , Have thought fit to Discharge , and hereby Discharges the Importing of the said base Coyn of the foresaid species or marks , or any other whatsoever : As also the Vending thereof , and giving or taking thereof by way of Change , under the pains following , viz. That the Importer thereof into this Kingdom in any quantity exceeding a pound weight , shall be imprisoned by the Judge ordinar of the Bounds ; where he shall be apprehended , and lyable to the punishment by Law inflicted on Venters of False Coyn : And that any other Importers , Venters or Outgivers of the said base Coyn , in any quantity greater or smaller , shall be lyable in the pain of twenty pounds Scots toties quoties , half to the Informer , and half to the Poor of the Parish , to be exacted by the Judge ordinar of the Bounds with all rigour . OUR WILL IS herefore , and VVe Charge you strictly and Command , that incontinent these our Letters seen , ye pass to the Mercat Cross of Edinburgh , and the remanent Mercat-Crosses of the whole Head-Burghs of all the Shires and Stewartries within this Kingdom , and there make publick Intimation of the Premisses , that none may pretend ignorance . And Ordains these Presents to be Printed . Given under Our Signet at Edinburgh , the seventh Day of March , and of Our Reign the sixth Year , 1695. Per actum Dominorum Secreti Concilii . GILB : ELIOT , Cls. Sti. Concilii . GOD Save the KING . Edinburgh , Printed by the Heirs and Successors of Andrew Anderson , Printer to His most Excellent Majesty , anno Dom. 1695. 
B05646	----	Proclamation for calling down the French three-sous-pieces to three shillings Scots, and appointing the Scots fourtie-pennie-pieces to pass at three shilling six pennies Scots per piece. Scotland. Privy Council. 1697 Approx. 4 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-03 (EEBO-TCP Phase 1). B05646 Wing S1846 ESTC R183505 52529302 ocm 52529302 179073 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B05646) Transcribed from: (Early English Books Online ; image set 179073) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2776:62) Proclamation for calling down the French three-sous-pieces to three shillings Scots, and appointing the Scots fourtie-pennie-pieces to pass at three shilling six pennies Scots per piece. Scotland. Privy Council. Scotland. Sovereign (1694-1702 : William II) 1 sheet ([1] p.) Printed by the heirs and successors of Andrew Anderson, Printer to the Kings most excellent Majesty, Edinburgh : Anno Dom. 1697. Caption title. Initial letter. Intentional blank spaces in text. Dated: Given under Our Signet at Edinburgh the ninth day of December, and of Our Reign the ninth year, 1697. Signed: Gilb. Eliot. Cls. Sti. Concilii. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Scotland -- Early works to 1800. Coins, French -- Scotland -- Early works to 1800. Finance, Public -- Law and legislation -- Scotland -- Early works to 1800. Broadsides -- Scotland -- 17th century. 2008-01 TCP Assigned for keying and markup 2008-01 SPi Global Keyed and coded from ProQuest page images 2008-03 Elspeth Healey Sampled and proofread 2008-03 Elspeth Healey Text and markup reviewed and edited 2008-09 pfs Batch review (QC) and XML conversion PROCLAMATION For calling down the French Three-Sons-Pieces to Three shillings Scots , and Appointing the Scots Fourtie-pennie-pieces to pass at Three shilling six pennies Scotsper Piece . WILLIAM By the Grace of GOD King of Great-Britain , France and Ireland , Defender of the Faith , To _____ Macers of Our Privy Council , Messengers at Armes , Our Sheriffs in that Part , conjunctly and severally , specially , constitute Greeting ; FORASMUCHAS , The Subjects , & interest of this Our Antient Kingdom do sustain a great & growing Prejudice , by the inbringing great Quantities of the small French Money called the three Sous piece , and passing the same at three Shilling six Pennies Scots a rate far above their true Worth and Value ; And that several of Our Leidges does Scruple and Demur to receive in Payments the Fourty Penny Pieces Coined and Minted within this Kingdom by Our Predecessors at the Rate of three Shilling six Pennies Scots , upon pretence that they are Bare and Worn through Use , albeit the Print and Vestige of the Coine of this Kingdom be visible upon them : Therefore , and for remeed of the Fonesaids Abuses , We with Advice of the Lords of Our Privy Council , Do hereby Prohibite and Discharge the small French Money called the three Sous Piece , which heretofore passed at three Shilling six Pennies Scots , to pass for hereafter , or be offered in Payments , but at the rate of three Shilling Scots only , and to be received at no higher Rate or Value by any of Our Leidges : Ordaining and Commanding , nevertheless , the French Crown to pass at fifty eight shilling Scots , with its half and Quarter proportionally as before : And farder We with advice foresaid Require and Command all Our Leidges to Pass and receave in payments of all Sorts , the fourty Penny Pieces of the Coine and Mint of this Kingdom , at three Shilling six Pennies Scots Money how bare soever and Worne by use the famen be , if the Print and Vestige of the Coine of this Kingdom be visible upon them ; Discharging hereby any of Our Leidges to refuse the saids Scots fourty Penny Pieces , at the Rate of three Shilling six Pennie , under the pain of being lyable to pay the Double of what they refuse to the Party who offered the same , which is immediatly without any Process to be decerned and exacted from the Refuser by any Magistrat within this Kingdom in Favours and to the behove of him from whom any of the said fourty Penny Pieces is refused . OUR WILL IS HEREFORE , And We Charge you strictly and Commands , that incontinent these Our Letters seen ye pass to the Mercat Cross of Edinburgh , and to the remanent Mercat Crosses of the Head Burghs of the several Shires , and Stewartries within this Kingdom , and there in Our Name and Authority , by open Proclamation make Intimation hereof ; That none may pretend Ignorance , And ordains these Presents to be Printed . Given under Our Signet at Edinburgh the ninth Day of December , And of Our Reign the ninth Year , 1697 . Per Actum Dominorum Secreti Concilii . GILB . ELIOT . Cls. Sti. Concilii GOD save the King. Edinburgh , Printed by the Heirs and Successors of Andrew Anderson , Printer to the Kings most Excellent Majesty , Anno Dom. 1697. 
B05652	----	Proclamation for crying down the silver Scots crown-piece, and the fourty shilling, twenty shilling, ten shilling, and five shilling Scots pieces to their former rates. Scotland. Privy Council. 1696 Approx. 3 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-03 (EEBO-TCP Phase 1). B05652 Wing S1860 ESTC R183510 52529303 ocm 52529303 179075 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B05652) Transcribed from: (Early English Books Online ; image set 179075) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2776:64) Proclamation for crying down the silver Scots crown-piece, and the fourty shilling, twenty shilling, ten shilling, and five shilling Scots pieces to their former rates. Scotland. Privy Council. Scotland. Sovereign (1694-1702 : William II) 1 sheet ([1] p.) Printed by the heirs and successors of Andrew Anderson, Printer to his most excellent Majesty, Edinburgh : Anno Dom. 1696. Caption title. Royal arms at head of text; initial letter. Intentional blank spaces in text. Dated: Given under Our Signet, at Edinburgh, the second day of June, and of Our Reign the eight year, 1696. Signed: Gilb. Eliot, Cls. Sti. Concilii. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Scotland -- Early works to 1800. Finance, Public -- Law and legislation -- Scotland -- Early works to 1800. Broadsides -- Scotland -- 17th century. 2008-01 TCP Assigned for keying and markup 2008-01 SPi Global Keyed and coded from ProQuest page images 2008-03 Elspeth Healey Sampled and proofread 2008-03 Elspeth Healey Text and markup reviewed and edited 2008-09 pfs Batch review (QC) and XML conversion HONI SOIT QUI MAL Y PENSE DIEV ET MON DROIT PROCLAMATION For Crying down the Silver Scots Crown-Piece , and the fourty Shilling , twenty Shilling , ten Shilling , and five Shilling Scots Pieces to their former Rates . WILLIAM by the grace of God , King of Great-Britain , France and Ireland , Defender of the Faith , To _____ Macers of Our Privy Council , Messengers at Arms , Our Sheriffs in that part , Conjunctly , and Severally , Specially , Constitute , Greeting : For as much , as by a Proclamation of the Date the twelfth Day of July , one thousand six hundred ninety five Years , The Rate of the Silver Scots Crown-Piece was raised to three Pound six shilling , and its Fractions proportionally : Which Rates were then judged expedient . But it being now found Just and Reasonable , That the saids Species of Money be Reduced , and should pass at no greater Rate than as they were appointed to pass by the Act of Parliament , one thousand six hundred eighty six ; Ordaining the samen to be Coined . Therefore We with Advice of the Lords of Our Privy-Council , Have thought sit to Cry down the saids Silver Crown Pieces Coined in Scotland , the Fourty Shilling-Piece , Twenty Shilling-Piece , Ten Shilling-Piece , and Five Shilling-Piece to the said former Rate of three Pound , fourty Shilling , twenty Shilling , ten Shilling , and five Shilling respective : And Ordains the samen only to pass at the saids Rates . OUR WILL IS HEREFORE , and We Charge you Strictly , and Command , That incontinent these Our Letters seen , ye pass to the Mercat-Cross of Edinburgh , and to the Mercat-Crosses of the remanent Head-Burghs of the several Shires , and Stewartries within this Kingdom , and there in Our Name and Authority , by open Proclamation , make Intimation hereof , that none pretend Ignorance ; and Ordains these presents to be Printed . Given under Out Signet , at Edinburgh , the second Day of June , and of Our Reign the Eight Year , 1696. Per Actum Dominorum Secreti Concilii . GILB . ELIOT , Cls. Sti. Concilii . GOD save the KING . Edinburgh , Printed by the Heirs and Successors of Andrew Anderson , Printer to his most Excellent Majesty , Anno DOM. 1696. 
B05663	----	A proclamation for opening the mint Scotland. Privy Council. 1687 Approx. 2 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-03 (EEBO-TCP Phase 1). B05663 Wing S1881 ESTC R233626 53981580 ocm 53981580 180371 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B05663) Transcribed from: (Early English Books Online ; image set 180371) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2826:59) A proclamation for opening the mint Scotland. Privy Council. Scotland. Sovereign (1685-1688 : James VII) 1 sheet ([1] p.) Printed by the heir of Andrew Anderson, Printer to his most sacred Majesty, Edinburgh : Anno Dom. 1687. Caption title. Royal arms at head of text; initial letter. Dated: Given under Our Signet at Edinburgh, the twentieth day of January, 1687. And of Our Reign the second year. Signed: Will. Paterson, Cls. Sti. Concilii. Imperfect: creased with slight loss of text. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Mints -- Scotland -- Early works to 1800. Coinage -- Law and legislation -- Scotland -- Early works to 1800. Finance, Public -- Law and legislation -- Scotland -- Early works to 1800. Scotland -- Politics and government -- 1660-1688 -- Sources. Broadsides -- Scotland -- 17th century. 2008-01 TCP Assigned for keying and markup 2008-01 SPi Global Keyed and coded from ProQuest page images 2008-03 Mona Logarbo Sampled and proofread 2008-03 Mona Logarbo Text and markup reviewed and edited 2008-09 pfs Batch review (QC) and XML conversion I 7R DIEV ET MON DROIT HONI SOIT QVI MAL Y PENSE royal blazon or coat of arms A PROCLAMATION For Opening the Mint . JAMES , by the Grace of GOD , King of Great-Britain , France and Ireland , Defender of the Faith ; To Our Lyon King at Arms , an● his Brethren Heraulds , Macers of Our Privy Council , Pursevants , o● Messengers at Arms , Our Sheriffs in that part , conjunctly and severally , specially constitute , Greeting : Forasmuch as W● 〈…〉 That Our Mint should be Op●ned , and that a free Coynage should 〈◊〉 therein , conform to an Act made and past in the last Session of the lat● Parliament of this Our Kingdom ; Do I herefore , with Advice of Our Privy Council , Hereby Declare Our Mint-House to be Opened , from and after the first Tuesday of May next to come , and no sooner : And to the End , That all Merchants and others may be Certiorated of the Time of the Opening of Our said Mint , and of Our having Signed a Warrand for Coynage , of the date the fourteenth day of August last by-past , for the several Speciesses of the Silver Coyn , conform to the foresaid Act of Parliament , seing We are Resolved to begin with that Coyn : Our Will is , and VVe Charge you strictly and Command , that incontinent these Our Letters seen , ye pass to the Mercat-Cross of Edinburgh , and remanent Mercat-Crosses of the Head-Burghs of the Shires of this Kingdom , and there , by open Proclamation , make publication of Our Royal VVill and Pleasure , concerning the Opening of Our said Mint , from , and after the said first Tuesday of Ma● next ensuing , that all persons concerned may have notice thereof . Given under Our Signet at Edinburgh , the Twentieth day of January , 1687 . And of Our Reign the second year . Per actum Dominorum Secreti Concilii . WILL. PATERSON , Cls. Sti. Concilii . GOD save the KING . Edinburgh , Printed by the Heir of Andrew Anderson , Printer to His most Sacred Majesty , Anno DOM. 1687. 
B06624	----	By the King, a proclamation. Whereas the Lords spiritual and temporal, and the knights, citizens, and burgesses in Parliament assembled, having taken into their serious consideration, the great mischiefs which this Our Kingdom lies under, by reason that the coin, which passes in payment, is generally clipped; ... England and Wales. Sovereign (1694-1702 : William III) 1695 Approx. 3 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-03 (EEBO-TCP Phase 1). B06624 Wing W2430 ESTC R186685 52529375 ocm 52529375 179263 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. B06624) Transcribed from: (Early English Books Online ; image set 179263) Images scanned from microfilm: (Early English Books, 1641-1700 ; 2781:30) By the King, a proclamation. Whereas the Lords spiritual and temporal, and the knights, citizens, and burgesses in Parliament assembled, having taken into their serious consideration, the great mischiefs which this Our Kingdom lies under, by reason that the coin, which passes in payment, is generally clipped; ... England and Wales. Sovereign (1694-1702 : William III) William III, King of England, 1650-1702. 1 sheet ([1] p.) Re-printed by the heirs and successors of Andrew Anderson printer to his most excellent Majesty, Edinburgh : 1695. Title from caption and first lines of text. Initial letter. Dated: Given at Our Court at Kensington, the ninteenth day of December, 1695 in the seventh year of Our Reign. Reproduction of the original in the National Library of Scotland. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Coinage -- Law and legislation -- Great Britain -- Early works to 1800. Broadsides -- Scotland -- 17th century. 2008-02 TCP Assigned for keying and markup 2008-03 SPi Global Keyed and coded from ProQuest page images 2008-04 Elspeth Healey Sampled and proofread 2008-04 Elspeth Healey Text and markup reviewed and edited 2008-09 pfs Batch review (QC) and XML conversion By the King , A PROCLAMATION . WILLIAM R. WHereas the Lords Spiritual and Temporal , and the Knights , Citizens and Burgesses in Parliament Assembled , Having taken into their serious Consideration , the great Mischiefs which this Our Kingdom lies under , by reason that the Coin , which Passes in Payment , is generally Clipped ; And they being of Opinion that the most Effectual way to put a Stop to this Evil , is to Prevent the Currency thereof , as soon as We in Our Wisdom should think fit , Have severally by their humble Addresses besought Us to Issue Our Royal Proclamation in that behalf : And We being deeply Sensible of the great prejudice which Our good Subjects undergo by such Diminution of the Current Coins , and being very desirous to Apply a Speedy and Suitable Remedy thereto Have thought fit to Declare and Command ; And by and with the Advice of Our Privy Council , We do by this Our Royal Proclamation Declare and Command , That from and after the First Day of January next Ensuing , no Clipped Crowns or Half Crowns shal Pass in any Payment , except only to the Collectors and Receivers of Our Revenues and Taxes , or upon Loans or Payments into Our Exchequer ; And that from and after the Third Day of February next Ensuing , no Clipped Crowns or Half Crowns shall Pass in any Payment whatsoever , within Our City of London , or within Forty Miles Distance off the same ; And that from and after the Two and twentieth Day of the said Month of February , no Clipped Crowns or Half-Crowns shall Pass or be Current in any Payment whatsoever , within Our Kingdom of England , Dominion of Wales , or Town of Berwick upon Tweed . And We do hereby Declare and Command , That from and after the Thirteenth Day of February next , no Piece of Money called Shillings , Clipped within the Ring , shal Pass in any Payment , except only to the Collectors and Receivers of Our Revenues & Taxes , or upon Loans or Payments into Our Exchequer , And that from and after the Second Day of March next , no such Shillings Clipped within the Ring shall Pass in any Payment whatsoever . And We do also hereby Declare and Command , That from and after the Second Day of March next , no other Money whatsoever , Clipped within the Ring , shall Pass in any Payment , except only to the Collectors and Receivers of Our Revenues and Taxes , or upon Loans or Payments into Our Exchequer , And that from and after the Second Day of April next , no such Money Clipped within the Ring , shall Pass in any Payment whatsoever . Given at Our Court at Kensington , the Nineteenth Day of December , 1695 In the Seventh Year of Our Reign . God save the King. EDINBVRGH , Re-printed by the Heirs and Successors of Andrew Anderson Printer to His most Excellent Majesty , 1695.