CONSIDERATIONS About the Currancy of Guinea's, In relation to the Silver-Coin of the Nation.  
I Think no Man will deny, That if Gold and Silver do not keep near upon a proportionable Value to each other, that Sort that doth exceed in Value its due Proportion, to such a Degree as there may be a competent Profit to the Importer, will be Imported; and the other Sort will be Exported in lieu, and in return thereof.  
Whence followeth, as I humbly conceive, with submission to better Judgements, That now our Silver-Coin is settled to its former Standard in Weight, Fineness, and Value, if Guinea's, which were coined but for 20 s. but were Currant for many Years at 21 s. 6 d. and two and twenty Shillings at highest, be not reduced now to two and twenty Shillings, which is some kind of Proportion to the Value of our Silver-Standard; or, if you suffer them to go, at the very highest, for above Two and twenty and six Pence, there will be such Profit in the Importing of them, and Exporting our large Silver-Coin in lieu and in return of them, that the large Silver-Coin will be Exported as fast as it can be Minted and creep abroad.  
For, if a Man bringeth Guinea's from Holland that cost there Twelve Guilders Ten Stivers, and sells them here at Thirty Shillings a piece, and maketh return in large Silver-Coin, he shall make near Twenty four per. Cent. Profit: Or, if to procure large Silver-Coin he sells his Guinea's but at Twenty eight Shillings, and sends back in return thereof large Silver-Coin, he shall make Eighteen per. Cent. Profit. The like Advantage is in bringing them hither from other Places, which is Profit enough to bring in all the Gold in Christendom hither, in exchange of our broad Silver-Coin.  
If it had been thought upon, about eight Years since, to prohibit the Currancy of Clipped Money in Payment, either to the Exchequer, or betwixt Man and Man, I humbly conceive we had not had our Money clipped nor falsified to that degree it is, to the vast loss of the Nation; nor would Gold have risen almost one Third beyond its former Value; nor would People have taken Guinea's at Thirty Shillings, rather than our Currant Silver-Money; by which means Guinea's are become in a manner the most Currant Coin of the Nation.  
And, now our great Silver-Coin is like to come abroad, if Guinea's be not in due time reduced to an equal Value, as near as rationally can be to our Silver-Standard, as is , I humbly conceive a far greater loss will come upon the Nation, by the extravagant Rate of the Guinea's than hath, by the clipped and false Money.  
For most of the Silver-Coin, for the Reason's , will be exported in return of Guinea's, as fast as it comes abroad, or can be coined; and, consequently, in a short time, most of the Treasure of the Nation will consist in Guinea's at thirty Shillings, if they do not rise higher; which is almost one Third beyond the Value.  
And, consequently, a Gentleman that receiveth 100 l. per Annum Rent, shall have nominally 100 l. but really no more than 66⅔ Guinea's; for which he shall buy no more than he did for so many Guinea's when they went currently at 21 s. and 6 d. and so shall have for his nominal Hundred Pound no more, in real Value, than about Seventy one Pounds nineteen Shillings: And the Nation, in general, shall have for Three Millions nominal Stock in Guinea's, not much more than Two Millions Sterling real Value; for all, or most Commodities, will rise in proportion to the rise of Gold.  
But some will say; When our great Silver-Coin, and the new minted Silver comes abroad, Guinea's will fall of themselves in course, to an equal Proportion in Value to our large Silver-Coin.  
I answer, with submission, That it is impossible; forasmuch as the Silver-Coin will be exported as fast as it comes abroad, by reason of the Profit, as is ; and forasmuch as it is natural for most Men to avoid a present loss, without respect to a greater that will fall upon them hereafter, so, forasmuch as most Men are possessed of Guinea's at 30 s. they will use their utmost endeavour to prevent their fall: Whence it necessary followeth, That nothing but a Proclamation, or Law, can reduce them to their due Value, or to 22 s. and 6 d. and prevent, in a great measure, the Exporting of our Silver-Coin.  
Others will say, we way prevent the Exportation of our Silver-Coin by severe Penalties.  
To this I answer, with submission, That, as long as there is Profit, it will be Exported; for, tho' Clipping be High-Treason, yet it did not, nor cannot cease, till the Profit cease by stopping its Currancy. It is a hanging matter in Spain to bring Silver from thence, yet all the World is furnished with most of their Silver from thence. It is Felony to Export Wool from hence, yet vast quantities are daily Exported.  
But it may be thought too surprising to reduce them at first clap to their lowest Rate, and that it would be more for the Ease of the Subject to reduce them by degrees: For instance, none to pay or receive them, on Penalties to be inflicted on the Transgressor's, after the First of February, at above 28 s. after the First of March, at above 26 s. after the First of April, at above 24 s. after the First of May, at above 22 s. Or, some such limited Times.  
And, if it could be found practicable, to cause the Nation in general to make Satisfaction to each particular Man for his loss, by a Fund to be raised, or by other means, it would be a great Ease to the Subject.  
However, it is necessary they should be reduced one way or other; for, if they be not reduced now, they must be reduced hereafter, for the Reason's ; by which time the Number will probably be triple what it is; and, consequently, the Loss to the Nation in general, and to most Men in particular, will be thrice as great, as it is like to be now: And being be must have a Loss, first or last, the first and least Loss is to be preferred.  
Besides, till Guinea's be reduced, as abovesaid, there cannot be Currant Silver-Coin enough abroad in the Nation, to supply Payments between Man and Man, and his Majesty's Revenue; but Guinea's must continue at 30 s. or, rather, run higher, as they draw out the Silver-Coin more and more; which will be done till there be no Silver-Coin lest in the Nation, nor Profit to the Exporter.  
Whence it will at last come to that pass, that his Majesty's Revenues and Taxes must be paid in Guinea's, at 30 s. or higher, because there will not be Silver-Coin in the Nation. For Silver-Bullion will be at such a Rate, that none can be brought in to be coined, but at very great loss; and, consequently, the Mints must stand still as soon as the Clipped Money is coined.  
From whence will necessarily follow, That suppose Six Millions be granted His Majesty, it will be but nominal, for He will receive de facto, little more than Four Millions real Value, to the incredible loss of the Nation, as is here : And, for aught I know, if they be not reduced by Authority, they may rise to 40 s. The Consequence whereof I leave to every thinking Man to consider.  
Betwixt forty and fifty Years since I lived in Holland, at which time their Gold-Coin went currently in Payment betwixt Man and Man about 20 per Cent. above their usual course; by reason whereof there was little or no Silver-Coin stirring, so that I have given 3 per Cent. advance for double Stivers, to defray the necessary Charges of my House. The States of Holland reduced their Gold-Coins, by Proclamation, to their usual Value of 20 per Cent. less than they last went for; and, in less than a Month's time, we had no want of Silver-Coins, but had as much in Value in Silver-Coins as we had in Gold before: The like will be as to a plenty of Silver-Coins here, when Guinea's are reduced as above, but not till then; for till Guinea's be reduced to that Value, that it will be indifferent to receive Guinea's or broad Silver Standard-Coin, no broad Silver-Coin will come abroad; or, if it doth, it will be presently Exported.  
But you will say; If we reduce Guinea's so low, they will be all Exported, as formerly, and then we shall have no Coin at all.  
To this I answer; 

1. They were not formerly Exported by way of Merchandise, as they are now Imported, but by Gentlemen that went into the Low-Countries, and for their private Use and Convenience, because of lightness of Carriage, and forasmuch as there was little loss in them.  
2. There will be no Profit in the Exportation, for they will not yield more beyond Sea's, and therefore will be Exported but by Private Gentlemen, for their particular Use and Convenience, as is .  
3. But suppose that vast Quantities should be Exported, they must make us returns in Silver for them, for we shall hardly be so kind as to give them away: And what hurt or inconvenience will it be the Nation to have Silver for Gold?    
I could say much more on this Subject, and swell it into a Volume, if I would go about to enumerate all the Inconveniency, Sir, and Mischiefs that attend the excessive Rate of Guinea's, but my Design is only to give a hint of an unavoidable Loss, ready to fall upon the Nation, [it may be to some Millions] if it be not timely prevented: I hope no true English Man will take it amiss, nor prefer his own private Advantage before that of the whole Nation, in a Business of so vast Importance: Wherein I pray God to direct our KING and Parliament, to the Honour and Safety of the Nation.  
Si quid novisti rectius istis,  
Candidus imperti, si non, his utere mecum.  Hor.