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A70269 The alteration of the coyn, with a feasible method to do it most humbly proposed to both houses of Parliament. To which is annexed, a projection, or scheem of reasonable terms, for establishing a firm and general peace in Europe. / By Thomas Houghton, of Lyme-Street, Gent. Houghton, Thomas, Gent.; Houghton, Thomas, Gent. Europe's glory. 1695 (1695) Wing H2923A; ESTC R20595 29,306 52

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THE ALTERATION OF THE COYN WITH A Feasible Method TO DO IT Most Humbly PROPOSED to Both Houses of PARLIAMENT To which is ANNEXED A PROJECTION or SCHEEM of Reasonable Terms for Establishing a Firm and General Peace in Europe By Thomas Houghton of Lyme-street Gent. LONDON Printed for the AUTHOUR 1695. THE Alteration of the Coyn Most Humbly Proposed to Both Houses of Parliament Most Great and Prudent Senators YOU cannot but be very sensible of the deplorable Misfortune Your Selves and the People of this Nation are under by the Clipt and Counterfeit Money of this Kingdom the Good Money which is now left being so small and little in Substance that 't is scarcely to be known and distinguished from the Bad and Counterfeit except it be by such who are daily Receivers and Payers of Sums of Money for 't is every Day more and more manifest That there are abundance of Rich as well as Poor People extreamly Cheated who not being able to know Good and Bad Money asunder are great Sufferers by it which too frequently falls amongst the Poor to their great Grief and Trouble with whose Clamours and Complaints the whole Nation rings the Distemper and Infection being as it were Epidemical and universally spread through the Nation so that every one is ready to cry Lord have Mercy upon us It is therefore reasonable to believe You will All unanimously grant That there is an absolute Necessity to alter the Coyn and that You will consider and think upon some proper Way or Method this Sessions of Parliament to amend this overgrown Mischief which if not speedily prevented will in a little time sink the Nation to a low degree The real and true Silver Coyn being thus shamefully Clipp'd and the Mill'd Money Melted down and carried off there is little left to Trade with but such that is Counterfeit or half Clipp'd away which creates so much difficulty in Paying and Receiving that Business is found to be a Burthen and Paying and Receiving of Money become the greatest Perplexity of the People so that all Persons hope and believe it will be Your Care with all the Expedition that may be to VOTE The Alteration of the Coyn and to use Your Endeavours that it may be Alter'd and new Regulated which may happily prevent many Disorders that may otherwise fall amongst Multitudes of People in this Kingdom and that You will do it in this juncture of Time by such Ways and Methods as will be least Burthensome to the KING and all degrees of his Subjects considering the great Taxes and Impositions that are to be Paid for Carrying on the Wars till an Honourable and Lasting PEACE can be procured which Taxes and Impositions will be difficultly raised upon the Calling in the Money unless the People find Yours and His Majesty's Favour in Regulating and Valuing the Coyn and fixing a certain Price upon Guinneas And in what point that Favour for Indulging the People doth consist is in the following Paragraphs further exprest So that before I come to set forth any of those Ways and Methods for Altering the COYN and Favouring the People it may not be amiss to say something concerning the Encrease and Production of SILVER and GOLD how and by who they have been procur'd when and from whence brought to this degree in Quantity as they are now found to be in EUROPE IT is therefore to be understood and I doubt not but all People will grant That SILVER and GOLD are the Hinges upon which all Trade and Commerce moves in the most Flourishing Kingdoms on the Earth and those Nations and Kingdoms that abound with the greatest Plenty thereof are by all other Trading Nations most frequented with their Goods in Order to obtain them knowing them to be the most necessary and lasting Instruments to procure all things that are or shall be found useful or any ways serviceable to Mankind being Portable and Durable when most other Goods are Burthensome subject to Perish and Decay Experience having proved This in all Times and Places makes Silver and Gold the more coveted and desired for every Nation as they abound therewith are more or less able to carry on Foreign Trades to make Improvements at Home or Abroad to build Ships and fit out Fleets to Sea to maintain Wars or to do and execute any other Thing or Things that requires Labour or Expence all Nations as well as private Persons driving their Trades according to the Proportion of Silver and Gold they have whereby to procure Goods to Trade with IT is also to be considered That the Trades of EUROPE especially those of the English and Dutch are an Hundred times greater now than they were Two Hundred and Twenty Years since for where there was One Thousand Pounds worth of Goods imported or exported by either of them in those times there is an Hundred Thousand Pounds worth imported and exported by Both of them now The principle and chief Reason of This hath been the Discoveries of GUINEY and AMERICA for to them the Improvement of all Trade in and to most Parts of the Earth is chiefly owing They having furnished Silver and Gold whose Circulation hath procured Goods not only for EUROPE but for AFRICA and ASIA many Parts of EAST-INDIA having been supply'd since their Discoveries with great Quantities of Money and Silver both Cony'd and Uncoyn'd and especially with Dollars or Pieces of Eight by the English Dutch French Portuguiese and Spaniards for although Silver and Gold be inanimate nevertheless they have like a grateful Of-spring plentifully supply'd AFRICA and AMERICA again with all necessary and serviceable Things there wanted for Humane Use in Return thereof So that it may be necessary for the Information of some People to shew how Gold and Silver have of late Years been expanded or spread abroad in the World and by who and from whence they came and when they begun to have this commanding Power and Influence upon Trade as well as upon Mankind IN the Year 1471. The Portuguiese discovered and found the Gold Coast of GUINEY from whence they brought some Quantities of Gold near the Value of Ten Thousand Pounds per Annum before which time there was but very little of Silver Coyn in ENGLAND HOLLAND or FRANCE and but small Quantities of Gold in EUROPE in Comparison to what there is now so that since the Portuguiese discovered those Parts of AFRICA they have had some Settlements there and a Trade with the Natives and have brought sometimes greater or lesser Quantities of Gold from thence into EUROPE IN the Year 1492. Christopher Columbus a Man Born at Genoa being Fifty Years of Age first found some Parts of AMERICA and amongst them the Island of Hispaniola from whence some Gold was brought to Spain to the Value of 200000 Ducats per Annum which is 22222 l. and 18 s. valuing the Ducat as formerly it was at 9 s. And after the Discovery of Hispaniola and the Adjacent Islands the said Columbus with
the Repository of Gressham's College where they may see pure Silver and Gold as they were taken out of the Mines growing in the Rocky Spar. There were also set at Work the Mines called La Trinidad and those of Berenguela with many others near the Lake called Tobacco Nunio upon the Brooks or Streams whereof there stands above an Hundred Silver Mills which constantly go Day and Night stamping and grinding the Oar that is got in and about its own Banks These Veins and many more with the inexhaustible Mines of Potozi were presently set at Work but the first Mines the Spaniards wrought and got Silver in were the Old Mines of Porco which had been wrought many Years before by the INGAS or Kings of the Countrey and great Quantities of Silver got out of them After this time the Mines of AMERICA both on the South and North Side the Line were followed with great Industry and more new Mines were daily found and discovered and amongst them a great many Quick-Silver Mines which have been a great Help to them in their Ways of Refining so that from several Places of AMERICA for near One Hundred and Fifty Years last past there have been some Thousands of Tons of Silver and Gold brought to Cadiz in SPAIN especially of Silver of which all Nations in EUROPE have more or less participated IN the Years 1553 and 1554 which was in Queen Mary's Reign the English made Two Voyages to the Gold Coast of GUINEY and brought some Gold from thence and have ever since followed that Trade so have several other Nations from whence they have brought considerable Quantities of Gold into EUROPE so that for about One Hundred and Forty Years last past there have been by the English Danes Dutch and French considerable Sums of Gold brought from GUINEY and from the WEST-INDIES being first brought thither by the Buccaneers There have been many Chests of Dollars with Abundance of Bullion and some Parcels of Gold for Forty Years last past brought to ENGLAND HOLLAND and FRANCE of which the other Nations of EUROPE and the EAST-INDIES have in some measure been Partakers You may therefore truly reckon AMERICA and GUINEY the Springs and Fountains from whence the Silver and Golden Streams of EUROPE have flow'd to which Barbary hath afforded some small Help in Gold and Hungary in Silver but neither of them worth mentioning in comparison with the other Two Having thus briefly mentioned the Mines and Places that have furnished EUROPE with Silver and Gold and when they first began to do so It is now to be inquired What Nations have had the greatest Opportunities and have used the most Endeavours to be Masters thereof And whereas the English Dutch and French have been the chief Trading Nations of EUROPE whose Goods and Manufactures are and always were in better esteem and demand by the Spaniards and Natives of AMERICA than any of the other Northern Kingdoms Therefore the English Dutch and French before these Wars have not been wanting to furnish them with Plenty thereof at Cadiz and in several other Parts of SPAIN And of late Years in divers Parts of the WEST-INDIES when and where fit Opportunities could be found especially where and when the Spanish Governours have been inclinable to look through their Fingers that a Stol'n Trade might be had with the Spaniards Thus the English Dutch and French had Opportunities to Buy and Sell and to Exchange their Goods there with the Spaniards for Gold and Silver whether in Dollars or in Bullion at very good Prices whilst the Germans Danes Norwegians Sweeds and Hamburgers have had no such Liberty and Freedom in Trade for want of Settlements in those Parts so that the English Dutch and French have drawn great Quantities of Silver and Gold from SPAIN for near One Hundred and Fifty Years last past according to their Proportions of Trade they have had with the Spaniards and from the WEST-INDIES for Forty Years past by the Buccaneers and several other Ways too long to be here recited All which time the Germans Danes Norwegians Sweeds Poles and Russians have stood staring on having their Hands as it were ty'd up not knowing how nor being able to procure One Hundredth Part of the Silver and Gold the English Dutch and French have done by reason the Goods of their Countries are not so fit for the Americans Use as others are and for want of Settlements near them This hath been the Cause that hath occasion'd a great Scarcity and Want of Silver and Gold in those Kingdoms having but little amongst them in comparison to what there is in ENGLAND HOLLAND and FRANCE especially in Norway Sweedland Poland and Russia where there are many great Provinces or Countries and some of them near as large as ENGLAND is a great Part of whose Inhabitants scarcely knew what Silver and Gold was till of late Years having not 5000 l. in Silver and Gold for some Hundreds of Miles in Circumference so that if ENGLAND HOLLAND and FRANCE were at Peace and were in a Capacity to furnish these Kingdoms with an Hundred Tons of Silver per Annum they could dispense with it and as far as they are able would endeavour to make Returns by their Countrey Goods and allow very high Rates for Your Silver although they daily want many of the English Dutch and French Effects sufficient to balance their Trade nevertheless Silver and Gold are become their beloved Objects finding them the most ready and most durable Instruments to procure all necessary and serviceable Things being more ready than any other Commodity to supply their Wants as they are known and found to be by all other People of EUROPE Experience having taught them in those Parts That with Silver and Gold they may Buy and Sell go to Markets near or remote and carry on their Trades more conveniently with them than they can with Pitch Tar Hemp Flax Iron Copper Caveer Pot-Ashes Bristes Fir-Timber Furs or any of their Commodities There 's no letting out these Goods at Interest as Silver and Gold are done in ENGLAND HOLLAND and FRANCE although they have learn'd the Way to do it if they could procure the Silver and Gold Therefore You have great reason to conclude and believe If all the Silver and Gold that is in ENGLAND HOLLAND and FRANCE as well the Coyned Money as the Vncoyned Plate and Bullion were to be remitted and sent into Germany Denmark Norway Sweedland Poland and Russia they would now find Uses sufficient for them and would yet crave more having been all this time kept Hungry and only fed with Snaps of what they so much desire and which they will not be without if for their Goods they can procure them at any moderate Rates IN this lies the Magnet or Loadstone that hath so attracted and drawn Your Silver beyond Seas to which all the Confederate Princes and several others whether Engaged or not Engaged in the present Wars have been under a Necessity of making the