







 
   
     
       
         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
        
      
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         99832687
         37161
         
           
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             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.
          
        
      
    
     
       
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           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
           .
        
      
    
     
  

