AN ABSTRACT OF THE Consultations and Debates, Between the French King AND HIS COUNCIL, Concerning the NEW Coin and Coinage That is Intended to be Made in ENGLAND. Wherein is CONTAINED, The Political Designs, and Great Hopes, the French King and His Council have to Ruin the ENGLISH NATION, in Divesting and Draining them of their New COIN as soon as Coined. Privately sent by a Friend of the Confederates from the French Court, to his Brother at Brussels, etc. LONDON: Printed, Anno Dom. MDCXCV. An Abstract of the Consultations and Debates between the French KING and His Council, concerning the New Coin and Coinage that is intended to be Made in ENGLAND. Privately sent by a Friend of the Confederates from the French Court, to his Brother at Brussels, etc. Paris Decemb. 12th, 1695. Dear Brother, HERE is a most Horrid Design laid, which contains the greatest piece of Policy that ever was contrived in Europe, which, if it go on, and be executed, will certainly Ruin the English People before they perceive it; for, if this Design takes effect, it will inevitably bring them to Disorder and Destruction in a little time; and I cannot foresee how the People of England can possibly subsist, or preserve their Government Three Years longer, without being subject to the Power of France, if this Design be accomplished: And if the English go down, all the rest of the Confederacy must tamely submit to the French Yoke, and leave the French King to Triumph as he Pleaseth, who will certainly trample upon all the Princes of Europe, if he be not prevented in this Design; so that You and I, with all the Families of our Relations, shall certainly he B●●n●d, as well as the rest: Therefore I desire You, with all the 〈◊〉 that may be, to transmit this Abstract of the Debates and Consultations of the French King and His Council, by the First Post to England, and cause it to be Published there, with all the Expedition that may be, to give the Parliament, and People of England, sufficient Notice thereof; whereby they may take such Methods concerning their Coin, as may prevent this Design now laid by the French King, and His Ministers of State; which is as followeth. French King. My Lords, I Have just now Received a Letter of Advice from King James, by which it appears, The Parliament of England are very Busy about the Alteration of their Coin; concerning which, You know, We have had many Debates in Council for Three Months past, to try if any Project could be framed, or a Feasible way found, to drain the English of their Money, as fast as it shall be New Coined; for, as I have often told some of You, if this be possible to be done, than I doubt not but to Conquer them, and the rest of my Enemies, without Fight either by Land or Sea: And in regard You have had sufficient Time to consider upon this Project, since our last Debate of this Affair, I desire to hear what Methods You have to propose, and how it may be effected.— First Minister of State. May it please Your Majesty, We have had many Conferences upon this Subject, and by the Progress we have made, we find it is practicable, and easy to be done, and with a very reasonable Charge to Your Majesty; therefore we have digested and framed the Methods and Ways of doing it, and doubt not but Your Majesty will approve thereof, being so contrived, that if the Parliament of England pass a Vote, for Coining their New Money of the same Weight and Fineness if formerly was, and pass for no more than their Milled Money did, (viz.) 464 Grains, or a Crown Piece of that Weight, for Five Shillings, as it did of late; Then we can and do assure Your Majesty, That if the English Coin Six Millions of New Money, we can easily make You Master of Five Millions of it in Fifteen Months,— accounted from that time they begin to Coin it. French King. Oh Heavens! Is this possible? Second Minister of State. Your Majesty may assure Yourself, It is possible, and the most easy to effect of all Projects that have been undertaken by any of Your Ministers since the War began.— There is nothing can prevent Us from Bringing their Money from England as fast as they Coin it, provided this Parliament pass a Vote for Coining it of the same Weight and Purity, and Order their Shillings, Half-Crowns and Crowns to pass as they formerly did, Your Majesty may then rely upon it, if they Coin Ten Millions of such Money from their Clipped Money and Plate, we have found and contrived infallible Ways and Means to bring Nine Millions of it away from thence in Two Years Time. French King, pointing at the Fourth Minister of State. If this be possible to be done, I'll spare no Cost to effect it; for since he first mentioned it,— I have often thought some Lucky Method might be found, to do me more Service this way, than all my Forces can by Sea or Land. Third Minister of State. 'Tis very true, and Our Advice is,— That Your Majesty will admit us to Employ to the Value of 250000 in English Money in such Ways as we have contrived for the Bringing over of their Coin, whereby we'll engage totally to strip and divest them of it; and that Your Majesty will spare the Value thereof in the Public Charge of Your Army, and Marine Affairs; so that, by consequence, it will Cost You nothing, if Your Majesty saves as much in other Expenses, as shall be laid out upon this: And though we may employ to the Value of so much in English Money to effect it, nevertheless, we doubt not but to Return You Nine Hundred Thousand Pounds more, besides your Principal; and question not but to make You Master of Nine Parts in Ten, of they Coin, in less than Two Years Time; which being done, What Army can they bring into the Field? or, What Fleet can they fit out to Sea? Must not Your Most Christian Majesty Remain Master of Both? Will not the Confederacy then be broke, and leave Your Majesty to Give Laws, and to Govern Europe? Who, or what can, or shall resist You, when this is done? French King. As I said before, I'll spare no Cost to effect it: But, How shall it be done? My Lord, I never knew a Project of Yours sail, if You can make this appear, I'll gratify Your Demands in all things, and own Your Service for ever. Fourth Minister of State. In all Dutiful Submission, I humbly inform Your most Christian Majesty,— That we have settled Forty Eight Correspondents Abroad, All which are to Merchandise in the Places following for Us, upon Your Majesty's Account. (Viz.) 2 at Dunkirk. 2 at Smirna. 2 at Ostend. 2 at Venice. 3 at Rotterdam. 2 at Legborn. 4 at Amsterdam. 2 at Genoa. 2 at Hamborough. 2 at Alicant. 2 at Brechmen. 2 at Maliga. 4 in Norway. 4 at Cadiz. 4 in Denmark. 4 at Lisbon. 2 at Stockholm. 2 at O Porto. 1 at Archangel. 22 26 Who are to Receive such Goods from England, as shall be sent from thence, by our Agents there, to each and every of these respective Places; and to Return such Goods back for England, by the same Ships as we shall direct. We have also taken Care to provide Forty Four Correspondents in the following Places of England, which will be all fixed in their several Stations before the New Coined Money comes forth, (viz.) Two Merchants, with One Melter, at Newcastle and Durham; One Merchant, and a Melter, at Stockton and Tarm; Four Merchants at Hull and York, with One Melter; One Merchant at Boston; One at Yarmouth, and a Melter; Twelve Merchants in London, and Five Melters; Two Merchants at Exeter, One at Topsham, One at Barustable and Biddiford, with One Melter; One Merchant at Plymouth, One at Truro, One at Falmouth, One for Saint Ives and Padstow, with One Melter; at Bristol Three Merchants and a Melter: And for the Inland Towns, and Trading Countries, we have appointed Twenty Four other Correspondents to remain there till this Business is dispatched, to whom our Agents in London will remit Guinneas from thence, at the Currant Price they go for there, let that be more or less (as Opportunity offers) to every County of England, by the Carriers of those Countries; where our Agents are to Change the Guinneas for New Coined Money; and as each of them gathers up One Hundred, Two Hundred, Three Hundred, Four Hundred or Five Hundred Pounds a Week, more or less, in every County, of the New Coin, they are to send it by the same Carriers, packed up in some of that County Goods, to their respective Correspondents in London, where it is to be Melted down with the rest Collected there, and thereabouts: And such Silver as is to be packed up in any sorts of Bale Goods, is ordered to be Cast into broad and thin Ingots, and then beaten out to the Thickness of half an Inch, for the Conveniency of Packing; and for what Goods are Shipped from London, or any of the Places, in Cask, the same may be done in thicker Ingots, or Bars of Bullion; whereby we Propose, from all Places of England, one reckoned with another, to pick up, and Melt down, near One Hundred Thousand Pounds a Week, which is much more than they can Coin Weekly; so that it will be time enough to begin this Trade Two or Three Months after the English have begun their Coinage, against which time nothing shall be Wanting on Your Majesty's Part. French King. I have heard this Discourse with all the Delight that can be imagined, and never did more pleasing Patience possess my Mind: I confess, the Project, and the Methods of it, seems a very feasible Enterprise; nor can I foresee how it should miscarry, if your Correspondents in England be so prudent to keep all things secret, than I question not but to meet with Success. First Minister of State. Your Majesty may depend on't; we have taken effectual Care of that; for if Your Majesty approve of the Project, and will be at the Charge, we doubt not their Secrecy and Faithful Service. First, Here are Forty Eight Correspondents settled in various Places Abroad, who know nothing one of another, nor of our Designs; so that there is no doubt to be made of their Discovering, or Writing any thing to England to prevent it, if Furnished as followeth. We propose to supply each and every of these Forty Eight Correspondents Abroad, with Five Thousand Pounds a piece, to Trade to and from England, (all the Places being in Peace with the English) which Forty Eight Correspondents so supplied, will take up Two Hundred and Forty Thousand Pounds, the Value of which, when sent in Goods from the several Places where they reside, to our Agents in England, we have contracted for to be done on these Terms and Conditions. (viz.) All and every of them are to have One Third Part of the Profits their Goods make in England; our Agents or Merchants in England, another Third; and Your Majesty the Remainder. We have also agreed, They shall have the same Proportion of the Profits made of such Goods as shall be sent them from England, Bullion only excepted: And if their Parts of the Profits, inward and outward, do not arise to Five Hundred Pounds a Man per Annum, Your Majesty is to make it up so much to all and every of them, as well to those in England, as to those in other Places Abroad; for which, they are to deliver up a fair and true Account, together with the Principal Stock, and Your Majesty's Proportion of the Profits, when demanded; and are to keep all Secrets we shall entrust them with. And as it hath been already mentioned, we have contrived the Business so, that none of our Correspondents Abroad, nor in England, knows one of another, but only those that are to deal directly together, and they know not the bottom of this Design; neither shall the Agents that are to be concerned in the several Counties of England, know one of another, each being to keep to the particular Person he is to deal with from thence to London; so that we look upon the Five Hundred Pounds per Annum to be a sufficient Obligation to oblige all Persons that shall be concerned to Secrecy and Industry; whereby we doubt not but to strip the English of their Coin as soon as 'tis well Coined; for which, we have given our Correspondents their positive Orders, to pack up Four Hundred Pounds Worth of Bullion, in every Hundred pounds' Worth of other Goods they shall Ship from thence; so that by one Return of Two Hundred and Forty Thousand Pounds, we shall draw away Nine Hundred and Sixty Thousand Pounds, Five or Six of which Draughts will effectually do our Business: Besides, Your Majesty may conclude, That by the Working Silversmiths, and the Exporters of Bullion, there will be above a Million of their Coin Melted down in Twelve months' Time after it comes forth. French King. My Lords, If this Project takes effect, you may live to hear of another Revolution; for though they over-witted me in That, I may chance to over-Reach them in This, especially if they carry on their Coinage so, as to leave an Opportunity to Empower me. But one of my great Fears is, That either amongst that Parliament, or the People, there may be some such Thinking Men, whose foresight may lead them to consider the Circumstances and State of Europe, and especially the Stratagems and Inclinations of the Court of France, at this time; who cannot but imagine, we shall be ready to Contrive, and Engage in any Project which seems rational to Wound our Enemies, having so many of them. And, amongst other Thoughts, may unluckily light of such Notions as these; the Probability and Possibility of which being Discovered, and made Public to the English People and Parliament, may thereby prevent us from putting this Design in Practice; and if this should happen, I should either think myself Accursed, or imagine that some of you, or those you employ, have Betrayed me: I confess this is one of my great Fears, for I'm so in Love with this Project, being confident, if it takes effect, it will enable me to do all I desire, so that I'd rather give Forty Millions of Livers than it should be Discovered. Second Minister. Your Majesty's Judgement and Prudence in all things is very great, and there is much Reason in what You say; nevertheless, I am of Opinion, There is not One Man in Ten Millions of Men can think of such a Contrivance; or, however,— That it should be thus laid in the Court of France; for, unless he knew what's done and acted here, he must be a strange sort of Fortune-Teller that can predict and foretell our Designs and Proceed in Council; although, I confess, he that loves his King and Country, and is of a generous Spirit, will spare no Pains, but Think and Writ, and Writ and Think of all the Ways he can to serve them.— But the Ways and Methods of Managing this Project, and also the Enterprise itself, seem to me impossible to enter into any Man's Head, unless he was engaged with an Enemy, as Your Majesty is; or else, was in Council with us: Who can imagine any Man should have the foresight to know our Designs? I think Your Majesty need not question this. French King. My next Doubt, and the greatest of my Fears is, That the Parliament of England will not Vote, The Coinage of their Money of the same Fineness and Weight, and Value it as it was before; because they very well know it hath been lately Melted down, and therefore must conclude it will be so served again, especially in these times, when all Europe hath such Occasions for Silver: My Reason is this, because, in all Parts of Europe, except Holland, Portugal, Spain, and Italy.— It is worth 20 per Cent. more now than the Price the English formerly Valued it at; so that if they consider the Affairs and State of Europe, they must needs know and understand there is a great Alteration, and a vast Difference, to what there was in Times of Peace, amongst all Nations; so that how the People or Parliament should be of that Opinion, and take that Method in their New Coinage, seems to me a Doubt, they will not Vote it, as aforesaid. Third Minister. We hope there will be no Occasion for Your Majesty to doubt it, having taken much Care, and used all the Endeavours that possibly may be to impose upon Them, and the People of England; that 'tis absolutely necessary to Coin their New Money of the same Weight, Value, and Fineness, it formerly was; and we knew very well, by good Advice, before the Parliament met, that all, or most of the unthinking People, were fixed and grounded in that Belief; and to confirm them and their Parliament in that Opinion, we have caused several Sorts of Printed Papers to be Published, and spread amongst them, to assert and prove the Necessity of it; in which Papers our Agents have endeavoured to exert and prove, First, The great Loss they suffer by the Exchange of Money; alleging, if they Own, they must either Pay or Break. Secondly, The Destruction and Ruin it will bring upon their Trade, if they should either abase their Coin, make it less, or raise it in its Value. Thirdly, That all Foreigners will Value it according to its Weight and Fineness, and will make that the Measure of their Trade with them, and will Sell them their Goods, and be Paid for them accordingly. Fourthly, That if they should Raise the Value of their New Coin, all Foreign Exchange of Money will rise proportionably. Fifthly, That if they should Raise the Value of their Coin, such an Alteration or Change of it will Defraud the Nobility, Gentry, and Landlords of their Rents. Sixthly, That all the Revenues of the Crown, with the Revenues of the Church, will be Lessened:— All their Eatables and Wearables will be Dearer:— All their Officers and Soldiers, by Land and Sea; their Servants, Labourers, and Workmen's Wages, with all Gifts, and Public Settlements of Charity, will be Diminished.— These, and a Multitude more of such like Arguments, we have, by our Agents, strenuously pressed upon the People, which have taken that good Effect, there is scarce One in a Thousand but believes them, insomuch, that they have and do maintain these Inferences in all common Discourse, and have laboured extremely to persuade their Parliament into the same Opinion and Belief: All which things seem rational enough to them that take the Circumstances of Europe to be the same now, they were in Times of Peace; and especially such as know not, nor think nothing of the Design we have to drain them of their Money, and how easily it may be done:— And, therefore, I doubt not but Your Majesty will hear very speedily that Parliament hath Voted it accordingly;— and the next thing will be, to fall a Coining. French King. That would be the Welcomest News that ever came at Paris, Marli, or Versailles, since these Wars began;— when I hear such a Vote is passed in England, as I said before, I shall have some Hopes to see another Revolution, and a further Conquest in EUROPE than I have yet made; for ever since this Project of Draining them of their Money was first moved, I have always thought the Parliament of England could never serve Me more, nor Themselves and the People less, than in this thing of the Value of their Coin, which, when done, and Established at the Price their Milled Money formerly was at, will leave me sufficient room to cut 'em out New Work. Fourth Minister. Of all the Projects Your Majesty hath Enterprised, either by Land or Sea, since the Wars began, in my Opinion, there are none of 'em to be compared with This, for Sinking Your Enemies Speedily, Secretly, and Certainly. And though You drain all the Warehouses in France, and empty every particular Province of its Goods, to bring Silver and Gold in great Plenty into Your Kingdom, nevertheless, if it be at high Rates, the doing thereof will Impoverish and Weaken Your Enemies, and will add very much to Strengthen and every You; for when they're divested of their Silver, though they'd give Eight Shillings an Ounce for it, they cannot have it again.— And considering how we have ordered and contrived the Management of this Enterprise, the most that ever Your Majesty will disburse to effect it, will not exceed 250000 Pounds; I mean so much for a Principal, or Stock to accomplish it.— And if there was no Advantage, nor any Profits to be made by Employing so much Money in Importing and Exporting Goods to and from England, nevertheless, all the Salaries Your Majesty hath to Pay to 116 Agents, at 500 Pounds a Man, to go through and effect this Design, comes but to 58000 Pounds; of which, the Profits inwards and outwards of 240000 Pounds, employed as aforesaid, cannot make less than one Third of the 58000 Pounds, which is 19333 Pounds, 6 Shillings and 8 Pence:— So that Your Majesty's Charges will be reduced to 38666 Pounds, 13 Shillings and 4 Pence, which will be all the Cost You will be at, totally to drain and divest the English of their New Coined Money, by carrying on of this Design.— But then if Your Majesty pleaseth to consider, as You signified before, the Difference there is in France, and most Parts of Europe, between the Prices of Silver of their Standard, at 5 Shillings and 3 Pence an Ounce, admitting one of their Crowns pass but for 5 Shillings, will be at least 12 Pence an Ounce for the Difference; so that the Question will be this, If, by this Project, in 12 months' time after their Money is New Coined, You drain them of 5 Millions, What Advantage will that make Your Majesty over and above all Your Cost and Charges, allowing every Ounce of their Money to afford You 12 Pence Profit? Answer. 929075 Pounds, 4 Shillings and 8 Pence clear of all Charges, together with the Principal Stock returned again. And this You may conclude for infallible Truth;— When You have got the Commanding Purse, You must and will have the Commanding Sword; and how easy it is to make Yourself Master of that Purse, by Executing this Design now laid, I think there wants no further Proof nor Demonstration. French King. My Lords, I approve extremely well of what hath been said and done in this Affair; I have nothing more to say at present, but to recommend it to your Care;— and shall daily desire to hear of a Vote passed by the Parliament of England for Coining their New Money of the Standard, Weight and Value their Milled Money formerly was; which being done, I have nothing more to add; But then Have at All. Brussels Decemb. 15th, 1695. Brother, I Received the Abstract you sent me of the Consultations and Debates between the French King and His Council, concerning the New Coin and Coinage that is intended to be made in England;— and according to your Desire have transmitted it to England, in Order to be Printed, for the Information of the People and Parliament there; so that I have great Reason to hope they will govern Themselves in this Affair, and take such Methods in Valuing their New Coin, as to prevent all the Designs their Enemies have upon them concerning it, which appears, by the foregoing Abstract, to be so laid and contrived for the Ruin and Destruction of the English People, that unless great Care be taken to annihilate their Designs in this Project, not only the English, but most of Europe, will be great Sufferers, if not Dragooned by the French Arms: Which God of His Mercy prevent. FINIS.