Expressions of such People as neither know nor consider what Use or Occasion all the North-East Parts of Europe have for our Cloathing in these times such Persons never thinking what Consumption and Expence there is of them in Holland Flanders Germany Poland Russia Sweedland Norway Hamborough and Denmark if they did they might see or understand there hath been no more Bought than what there is present Demand and Occasion for and so 't will be found they 'll be as ready to Buy the next Year as they have been this especially if they could hear of the Fall of your Goods and the Price of Guinneas Another sort of People are so Ignorant to affirm by our taking their Guinneas at high Prices they have drain'd us of our Goods I wonder at the Weakness of such People and tell them at this Day there is in England in the Oars of Tin and Lead and in those Morals ready made in Wool and the Woolen Manufactures ready wrought up above the Value of Two Millions in Pounds Sterling all which we are ready to part with for good Prices and should be either glad of more Gold or Silver for them Knowing very well we can soon make as many more But I desire such Persons to consider and understand It is not Holland Hamborough nor any Part of Europe that is in a Condition or can and will spare or part with One Million of Guinneas or the Value thereof in other Gold in these times unless we English will sell them our Goods for little or nothing as we have done of late Years and then doubtless they 'd be ready to purchase them Is there any thing more fresh in Memory than what the People of this Kingdom have suffered for Six Years last past during all which time the Manufactures and Goods of our Product as Lead Tin all sorts of Cloathing c. have been at such low Prices that many Thousands of Families could scarcely get Bread nay Multitudes have been forc'd to go a Begging and leave their Habitations because those that had Stocks of Money and used to Imploy them cast them off in regard they could get nothing by their Labour when they had Wrought it up by reason of the low Price of our Goods Did not this Discourage the Undertakers for Imploying them upon which many have been frequently heard say lamenting their Condition What should I Work for My Work affords me nothing when I have made it Can this be thought any thing but a dismal and deplorable State of the People and since those times are grown better by the Advance of Guinneas which occasioned this Rise of Goods is it not necessary to keep Both up whereby to prevent the People from Groaning under that Burthen again What better can any Person be by Lowering the Price of Guinneas which have done so much Good I am sure there are few if any in England that will be Gainers by their Fall but 't is certain Abundance would be very great Losers if their Price should come lower And You may conclude The Foreigners desire nothing more than the Fall of Guinneas here whereby they might have an Opportunity to compass them and then they doubt not but to bring down the Price of our Goods again and so free themselves from Bearing any Part of our Charges of the War Therefore I will lay down this for a Maxim Whilst such Goods of our own Growth carry a high Price as are Exported for Foreign Vse all Parts of the Earth where-ever they are used contribute towards our Charges of the War and when such Goods are low here we only bear the Burthen and the Foreigners have the Advantage thereof Therefore What Prudence can there be in Lowering the Price of Guinneas which have caused so much Good If Guinneas fall the Price of Goods go down and then You will hear of fresh Complaints from these People and Places following who for Six Years past have labour'd under very great Difficulties and a Multitude more in England besides these whose Number is not a few In the County of Cornwall there may be Imployed in the Tin-Mines and such as have a Dependance upon them for their Livings one way or another about 30000 People And upon Lead-Mines in the Counties of Somerset Cardigan Montgomery Denby Flint Shrewsbury Derby York Westmoreland Cumberland Northumberland and Durham about 120000. In all Sorts of Woolen Manufactures and Cloathing Trade in the Counties of England and Wales at least 1500000. Making in all 1650000. Working People who if Guinneas fall and the Price of Goods go down at a time when the Money 's Call'd in and they Charg'd with further Taxes than they have been which together with their then Want of Credit added to to the Loss by Clipt and Counterfeit Money will render them inclinable to reckon themselves like so many Victims Sacrific'd by Oppression and thereby appear both Unable and Unwilling to Pay their Proportions of their Taxes So that with Submission in all Humility I Humbly offer it as my Opinion for the Good of the People That Guinneas be Establish'd at Thirty Shillings during the Time of the War or till there is greater Plenty of Silver and good Money abroad in the Nation which will add very much to make the People easie and enable them to Pay their Taxes chearfully and also conduce to the Keeping up the Prices of such Goods as are fit for Foreign Vse whereby our Exports will over-balance our Imports and in a little time remove that great Mischief and Damage there is at present by the Exchange of Money which Loss hath insensibly stol'n upon us by Reason of the low Price our Goods have Sold at for some Years past For Example Suppose my Correspondent at Amsterdam in May last sent me One Hundred Pounds Weight of Cloves at Four Shillings a Pound which cometh to Twenty Pounds and ordered me to Return him Two Fodders of Lead by the same Ships which being very low at Nine Pounds a Fodder came to Eighteen Pounds so I became Forty Shillings indebted to him by reason of the low Price of the Lead which if it had been at Eleven Pounds a Fodder as it hath been since the Rise of Guinneas he must have allow'd me Twenty Two Pounds for my Lead and then he would have been Forty Shillings Indebted to me and so my Export had over-balanc'd my Import This hath been the unhappy Circumstance we have lain under for several Years past in all Goods which if this Sessions of Parliament would be pleased to consider and think upon some Expedient to Remedy this Mischief it would alter the Exchange and cause a considerable Advantage to the English To Accomplish which I shall offer my Opinion as followeth It is very well known The Danes Sweeds Norwegians Bremors Hamburghers Hollanders and Flemmings can fetch our Goods from Yarmouth Boston Hull Stockton and Newcastle and carry them into any of their Countries as Cheap as we can bring them from
if any offers to Pay them at more than Thirty Shillings to be forfeited to the Informer by carrying the Offender before some Justice of the Peace and proving it by Two Good and Substantial Witnesses And that all the present Species of Gold Coyn pass in their Proportion they hold to Guinneas of full Weight This is One of the Acts of Favour You are desired to Petition His Majesty for and 't is hop'd He and You will dispense therewith which will make the People more Cheerful in Paying their Taxes and be of great Advantage to all Trade in the City but especially in the Countrey when the Money is brought in to be New Coyned This will be a great help to make all Payments and Receipts easie and expeditious and will totally prevent and take away those Scruples People are now possess'd with in Paying and Receiving them Thirdly That the same Proclamation give Notice to all Sheriffs Justices of the Peace Mayors of Cities and County Towns That they and every of them observe and perform such Orders and Directions concerning Plate Clipp'd and Vnclipp'd Money in each and every of their respective Counties and the particular Parishes thereof as shall be further set out by Act of Parliament and that they meet and consult about this Affair in Twenty Days Time next after the Publishing of the said Act. Fourthly That the said Act of Parliament direct That an Office or Offices shall be set up in or near every City or County Town of England and Wales with one in Berwick upon Tweed which Office or Offices shall be set up where and in what Place or Places the Sheriffs Mayors and Justices of the Peace find most convenient and fit for this Business and the Ease of themselves and the People And that the said Office or Offices shall be set up and attended by them or their Deputies to take in and receive all Clipp'd and Vnclipp'd Money and all such Plate as shall be brought thither in order to be New Coyned To which Offices all Clipp'd and Vnclipp'd Money shall be brought which shall there be Told Weighed Numbred Marked and Sealed up by its self if it be Twenty Four Pounds Weight or upwards with the Owner's Name set on it and the County and Parish where he or she Lives which shall be done by the Sheriffs Mayors Justices of the Peace or their Deputies whilst the Owner or Person that brings it is present And the said Sheriffs Mayors and Justices of the Peace shall be answerable for it and for all Plate that shall be brought thither and shall make good the Losses if any shall happen by Fraud or Mistake whilst it is in their Office or Custody Fifthly That the Sheriff or his Deputy shall give a Note to each particular Person of the Value Weight Mark and Number of their Money at the Time it is brought into the Office as is afore-said upon such Stamp'd and Marbled Paper as shall be provided for that Purpose which Note shall be Signed first by the Sheriff and Witnessed by one or more of the other Principals and Four of their Deputies which Four Deputies shall be sufficient to attend one Office in any Market or Parish-Town All which shall be done at the Cost and Charges of each County and the particular Parishes thereof for the Allowances that shall be Paid the Sheriffs Mayors Justices of the Peace or their Deputies out of the New Coyn'd Money hereafter mentioned when it is returned from the Tower which Note so given the People shall be to this Effect following Derb. ss I T. B. Sheriff of the County of Derby do hereby Own and Acknowledge I have Received of Mr. C. D. of Middleton in the Parish of Worksworth and County aforesaid One Hundred Pounds Eighteen Shillings and Six Pence in Money Weighing Twenty Four Pounds Eleven Ounces Sixteen Penny Weights and Twenty Grains Numbred 22 and Marked A. for which I promise to be accountable to the said C. D. his Executors Administrators or Assigns for the like Weight in New Coyned Money if the said Cash proves to be equal to Standard Silver when assayed at the Tower by the Masters of the Mint but if they Return it better or worse than Standard Silver then to Pay him the said C. D. his Executors Administrators or Assigns all they return back to me whether it be a greater or lesser Weight in New Coyned Money than the Cash above-mentioned is which Payment shall be well and truly made in Twenty Days next after it is brought back from the Tower of London to the County Office only abating the Allowance Granted by Act of Parliament Witness my Hand this _____ Day of _____ 1696. Test W. S. mayor E. M. F. G. H. P. P. H. T. B. Sixthly That the said Act of Parliament do in like manner give Notice That all such as shall voluntarily bring or send any Old or New Plate to these Offices in Order to be sent to the Tower of London to be Coyned if the Plate so brought thither be finer or courser than Standard Silver is then they to receive a greater or lesser Weight in New Money for it than the Weight of the Plate was according as it shall be found finer or courser than Standard Silver by the Assay-Masters of the Mint for which Plate when delivered into the Office a Note shall be given to the Owner or to the Person that brings it for the Owners Use which shall be Signed by the Sheriff and Witnessed by one or more of the other Principals whether Mayor or Justices of the Peace and Four of their Deputies as is afore-said And if any Person or Persons shall desire it they may mix their Money and Plate and put all in one Parcel and take a Note for the whole mentioning both the Money and Plate and the Weight thereof Derb. ss I A. B. Sheriff of the County of Derby do hereby Own and Acknowledge I have Received of Mr. E. F. of Crumford in the Parish of Worksworth and County afore-said Two Hundred Twenty Five Pounds Twelve Shillings and Six Pence in Money Weighing Forty Four Pounds Eight Ounces Ten Penny Weights and fourteen Grains together with one Parcel of Plate consisting of Eight Porringers Six Tankards Ten Spoons One Candlestick and a pair of Snuffers containing and weighing Twenty Two Pounds Six Ounces and Four Penny Weights which Money and Plate being put all together and Sealed up is Numbred 23 and Marked B for which I promise to be accountable to the said E. F. his Executors Administrators or Assigns for the like Weight in New Coyn'd Money if the said Cash and Plate prove to be equal to Standard Silver when assay'd at the Tower by the Masters of the Mint but if they Return it better or worse than Standard Silver then to Pay him the said E. F. his Executors Administrators or Assigns all they Return back to me whether it be a greater or lesser Weight in New Coyn'd Money than the Cash and
Plate above-mentioned are which Payment shall be well and truly made in Twenty Days next after it is brought back from the Tower of London to the County Office only abating the allowance Granted by Act of Parliament Witness my Hand this _____ Day of _____ 1696. Test E. W. Justice of the Peace W. M. Mayor M. H. P. M. C. D. R. A. A. B.  lb. ℥ pw gr Weight of the Money above 44 08 10 14 Weight of the Plate above 22 06 04 00 Weighing in all 67 02 14 14 That for the Ease and Conveniency of the People the Sheriffs Mayors and Justices of the Peace shall cause a List of all the Parishes in the County to be drawn which shall be set upon the Cross in every Market-Town of the said County which List shall be Read by the Publick Cnyer giving Notice to the People when their Deputies shall come to the Market-Towns and also to such as are Parish-Towns where no Markets are kept to take in and receive the Account and Weights of their Money where they shall receive all Sums being Twenty Shillings or upwards but no Sum under Twenty Shillings such being fit for one Friend to intrust with another where having first told then weighed and entred them in the Register for that Parish with the Owner's Name and his or her Place of abode they may then mix all together till the several Parcels will make up One Hundred Pounds but shall not exceed Two Hundred Pounds And that no Parcel of Money or Plate shall be admitted to be sent to the Tower separate or mixt that is not Twenty Four Pounds Weight but where it falls to be the concluding Parcel in a Parish which shall be done to save the Labour of making too many Assays in the Tower which would be an endless and troublesome thing if every Five Pound or Ten Pound Parcel should be Assay'd Therefore amongst these small Sums he that hath the greatest shall have a Note of the whole from which every Man may take a Copy that pleaseth and the Deputy shall leave a Copy with the Parson of the Parish entered into a Book to be left there and send another Book to the next Justice of the Peace having first entred all things fairly down in the Register he keeps for that Parish in this Manner following to which Parson or Justice of the Peace if any shall lose or mis-lay their Accounts they may have recourse for another April the 24th 1696. AT Worksworth Town for the Parish of Worksworth taken and received these Sums of Money of the several Persons herein mentioned weighing as followeth  l. s. d. lb. ℥ pw gr Received of John Adams Senior of the Town of Worksworth 05 12 06. 01 09 12 16. Received of James Wright Sen. of Ashlyhay 10 16 04. 02 10 14 12. Received of Henry Wylde of Hopton 20 08 06. 04 00 12 04. Received of Robert Marchant of Gaursey-Banck 30 12 00. 07 02 16 18. Received of Anthony Wood of Cawlow 45 14 06. 12 04 10 12. No 24. and Marked C. Sum. Weight  113 03 10 28 04 06 14. The like to be done for any bigger or lesser Sum of Money and if there be Plate then to incert only the Weight Number and Mark of it Eighthly That as soon as the Money and Plate are brought to the County Offices the Sheriffs Mayors and Justices of the Peace shall meet of which there shall be at least Four of the Principals besides the Sheriff and Four of their Deputies present to see and examin the Value Weight Number and Mark of each Person 's Money and Plate and that their Names be annexed to it in a piece of Parchment which shall be compared with the Register there kept and taken and if they agree they shall then cause the Money and Plate of every particular Parish to be pack'd up by it self though in several Parcels so that the Money and Plate of one Parish shall not be mix'd in the same Bag or Chest loose with that of another and there shall be put into the Bag or Chest Two Pieces of Parchment upon which shall be Writ The Money and Plate belonging to the Parish of Worksworth in the County of Derby And another of these Parchment-Labels shall be fastened to the outside of the Chest or Bag. Ninthly That all the Officers or Deputies imploy'd in Receiving Money and Plate and all such that are any ways concerned in Carrying them to and from the Tower shall give Bond to the Sheriff That they nor none of them shall or will break the Seal or Seals or open the Parcel or Parcels of any Person 's Money or Plate after it is Sealed up And that they will not take out change nor suffer to be taken out or changed any of the said Money or Plate more or less upon Pain of Forfeiting for every Six-Pence Shilling Half-Crown or Crown they shall so take out change or suffer to be taken out and changed the Sum of One Hundred Pounds one half to be Pay'd to the King and the other half to the Discoverer For the true Performance of which each or every of them shall take an OATH before some Master of Chancery or Justice of the Peace deputed on purpose where such Masters of Chancery shall be wanting which shall be to this Effect following I W. S. of the Parish of Worksworth and County of Derby do Swear I will Truly and Faithfully do and execute the Charge and Trust committed to me concerning the Money and Plate of this County and that I will not wilfully break the Seal or Seals open alter or change the Money or Plate of any Person or Persons after it is Sealed up nor will suffer any Alteration or Change to be made or done by any others after or before nor will wilfully receive or suffer to be received any Brass or Iron Money that doth not appear to be four parts in five Silver to be mired amongst any Person 's Money or Plate nor will I hold any Correspondence or have any Dealing with the Buyers of Brass and Broken Money nor will I wilfully refuse the Receiving of that which shall appear to be Silver to the best of my Knowledge So help me God Tenthly That the Sheriffs Mayors and Justices of the Peace in every County shall and may consider and take those Ways which they shall think or find most convenient for the ◠ase of themselves and the People and if they find it convenient to send the Money of one Parish up to be New Coyned whilst the Money in another Parish is Collecting That it shall and may be Lawful to do so till they have gone through all the Parishes in the County by which means as the Money of one Parish comes up to the Tower the Money of another Parish may go down to the Countrey whereby the Peoples Necessities may be the better fitted than if they should be without Money amongst them till all the Money in
the County be Coyned And the Deputies shall endeavour to make their Parcels of Money and Plate as large as they can thereby to prevent the Multitude of Essays in the Tower of which Parcels there shall be none under Twenty Four Pounds Weight except it be the last concluding Parcel in a Parish as is before-said And that the Loss of all Counterfeit Money remain where it falls or upon them in whose Hands it is Eleventhly That the Office for Taking and Receiving the Money and Plate within the City of London and Bills of Mortality be kept at Guild-Hall in the said City And that the Mayor Sheriffs and Justices of the Peace belonging to the said City or their Deputies shall give their Attendance there in Fourteen Days next after the Act of Parliament is Publish'd and shall provide Books Bags Weights and Scales Printed Notes and all other things that shall or may relate to this Affair for the well-Ordering and Dispatching this Business and shall keep Accounts of all Persons Money and Plate that shall be brought thither and undertake the Charge of Carrying and Fetching it to and from the Tower and Delivering it out again to whom it may belong for which the said Officers or Deputies shall deduct and Pay themselves out of every Person 's Money and Plate when New Coyned at the Time they deliver it them forth One Shilling to be stop'd out of every Hundred Pounds which shall be all the Charge the Inhabitants of the City of London and such as Live within the Bills of Mortality shall be at in and about the same and for a greater or lesser Sum than One Hundred Pounds more or less according to that in Proportion which Twelve Pence for One Hundred Pounds if a Million of Money be Coyned out of the Clipp'd and Vnclipp'd Money and Plate in that compass will come to Five Hundred Pounds which will be sufficient to Defray the Charge of Attendance in this Affair which cannot be above Three Months in doing and if there be Eight or Ten Deputies or Officers imploy'd about it Fifty Pounds a Man for Three Months is very good Pay Twelfthly That the Allowance or Satisfaction that shall be made to other Officers and Deputies belonging to the Sheriffs Mayors and Justices of the Peace in all other Places ought to be Rated proportionably to what Money there may be judg'd to be in the County and to the Scituation or Distance the Counties lie from London for which I Humbly Propose as followeth For Middlesex Surry Sussex Kent Suffolk Essex Hartford-Shire Berk-Shire Hamp-Shire Buckingham-Shire Oxford-Shire Bedford-Shire Northampton-Shire Huntington-Shire and Cambridge-Shire Two Shillings out of every Hundred Pounds of New Coyned Money For the Counties of Norfolk Rutland Lincoln Nottingham Derby Stafford Leicester Worcester Warwick Gloucester Wilt-Shire Dorset and Somerset-Shire Two Shillings and Six Pence out of every Hundred Pounds And that all other Counties of England and Wales may have Three Shillings per Cent. in Regard of their Distance Also That the Essay-Master in the Tower shall make such further Provision for the quick and speedy Dispatch of the Essays that are to be made for each County as shall be found sufficient to discharge Two Counties every Month after the Essays for the City of London are finished And that no Refiner in the City of London be admitted to Buy any Old Plate during the Time of this Coynage without Carrying it to the Office in Guild-Hall in Order to be Coyned but that such Refiners may be imployed at the County-Mints hereafter mentioned Thirteenthly Having thus prescribed a Feasible and Quick Way for Bringing the Money and Plate to the Tower in Order to a New Coynage It is necessary now to mention what Price it ought to be Valued at so as to preserve it from being Melted down and Shipped off as it hath been under the Pretence of Foreign Bullion It is also convenient to consider How You may prevent the Consumption that is made of it in ENGLAND by the Working Silver-Smiths who daily turn it into various Sorts of Plate For unless You take such Methods as will remedy or prevent these Two Things The Calling in of the Money to be New Coyned will absolutely be Destructive to the Nation and it had better be let alone as it now is than to meddle with it if You do not all You can to prevent them viz. The First is The Converting it into Plate for In-land Vse The Second is The Melting of it down for Foreign Vse Therefore If You take such Methods as will conduce to annihilate these Two Destructive Things Your Selves and the People of this Nation will find the Benefit thereof which is in Vain for them to expect or You to believe till They are remov'd So that to prevent the Silver-Smiths from turning the New Coyn'd Money into Plate it is necessary for the future That all kinds of Plain Plate as Tankards Spoons Forks Porringers Dishes Plates Candlesticks and all other sorts of Bulky Plate be not admitted to be Sold when they are Wrought up for any more than Weight for Weight in New Money allowing Two Pence an Ounce over and above the Weight of the Money for the Fashion as they call it in regard their Solder and Allay that is put in some of them Pays for most of the Workmanship and this they may very well do especially if You please to settle the Price of Bullion as it is mentioned in the latter part of this Paragraph For whilst the Circumstances of Silver Coyn and Plate remain thus That an Ounce of Plate may be Sold for Seven Shillings under a Pretence there is Six Pence an Ounce of it for the Fashion What Silver-Smith can You believe there is that will not give Six Shillings and Six Pence an Ounce for New Money when at One Hundred Ounces there is Fifty Shillings got by Melting it down and Working it up besides the Advantage of the Solder and the Allay where and when they can conveniently place it which many of them daily practice and cannot be prevented from doing it Therefore whilst the Plate carrieth a higher Price than the New Coyn'd Money You may conclude the Money will be melted down and turn'd into Plate as the Silver-Smiths have occasion to use it For if You please to consider the Nature of the Thing What Reason is there to be given why a Pound of Plate in a Man's House should cost more or be of greater Value than a Pound Weight of New Money when the latter will always be more ready to supply a Man's Wants whilst he hath a Grain of it than the former and the Money hath Workmanship bestow'd on it as well as the Plate which when any hath occasion to part with must Sell to Loss besides the Money is generally finer and better Silver and therefore deserves to bear a better Price From hence it appears whilst You suffer Plate to bear a higher Price than the New Coyned Money it
is and will be Destructive to the Coyn of the Kingdom which all People hope and believe You will do all You can to prevent and more-especially since His Majesty hath been Graciously Pleased to Recommend the Care thereof to You in His SPEECH Fourteenthly So that the first Step to Prevent the Turning of New Money into Plate and to Preserve it from being melted down and Exported under the Name of Foreign Bullion will be to Enact THAT all Bullion or Pieces of Eight Imported from and after the First Day of next Ensuing being equal to Standard Silver and no better shall always be Valued Eight Grains in the Ounce under the Price the New Money when Coyned shall be Rated at And if the Bullion or Dollars Imported be finer than the Standard Silver or Coyn of this Kingdom then to be Valued proportionably above the Price of New Money according as the Fineness thereof may deserve always allowing Eight Grains for the Difference of Standard Bullion or Dollars and Standard Coyn and from thence to compute what the Finer Dollars or Bullion are worth For when the Silver-Smiths find they can have Standard Bullion Eight Grains in an Ounce cheaper than they can have New Money which is Standard they will work upon Bullion and leave the Money the Bullion being cheaper by about Eleven Shillings at Thirty Two Pounds Ten Shillings than the New Coyned Money will be provided You Rate it when Coyned at the Price hereafter-mentioned which Price will be absolutely necessary to Fix it at if You think to Preserve it from being melted down and sent to those Hungry Countries that so much Want and Desire it and who and where those are is before recited From hence it appears if what is above-said may be Enacted The First of these Mischiefs will be totally taken away that is The Turning of New Money into Plate by the Silver-Smiths for In-land Use The Second Mischief is The Melting of it down for Foreign Use which being also removed or prevented the Money will remain in the Kingdom when New Coyned in its Species without Alteration To accomplish which it will also be necessary to rate it so that the Price may conduce to Preserve it from being Melted down and Transported otherwise it will be better to let it alone and to remain in the Condition it now is than to Alter it if effectual Care be not taken to Keep it when Altered so that before I mention that Price which I judge convenient to set upon the Money when New Coyned be pleased to consider It is unreasonable for any to think or believe That the Estates of the Landed Men in England and Wales should make good the Damage or Loss of the Moneyed Men that will arise by the Clipt and Counterfeit Money And it will be difficult to find Ways and Means or a sufficient Fund in these times to make good the Counterfeit and Clipt Money without affecting or as I may say squeezing the Landed Men with more than they can possibly bear of this Burthen So that when all Circumstances are well considered with the Loss and Damage the Nation must sustain by the Clipt and Counterfeit Money which being reckoned together cannot be thought less than Forty Five Pounds per Cent. to supply which if there be Six Millions of Money in the Kingdom there will go Two Millions and Nine Hundred Thousand Pounds to make them good which Sum besides all the present Cares and other Impositions that must be further raised for carrying on the Wars is too great a Charge for the People to bear at one and the same time especially when the Money is calling in So that in all Humility I Humbly Propose That the Money may at present bear the greatest Part of its own Damage by Raising it in the Value when New Coyned Thirty Pounds per Cent during His Majesty's Pleasure or so long as the Wars continue whereby the People will be made easie and freed from most of their Damage at present by that which is Clipt and Counterfeit and the Money when New Coyn'd will by this means in a great Measure be prevented from being Melted down and Sent Abroad which certainly will be done if any lesser Price be set upon it for as You have before heard and as Experience hath plainly prov'd there are so many high Bidders abroad for it that Six Shillings and Six Pence an Ounce will scarcely preserve it from them And if the Wars continue Two Years longer I am of Opinion You will certainly find they will give Seven Shillings an Ounce for it before they will be without it So that to call the Money in and to suffer Forty Five Pounds per Cent. Damage by it and when New Coyned to Value it at a lesser Price by Twenty Pounds per Cent. than the Foreigners now bid for it who would gladly give Twenty Pounds per Cent. above Standard Price to have it I say to Value it thus is the ready way to serve and uphold them and an infallible way to pull down and impoverish our Selves which the whole Nation believes You in Your Great Wisdom will take Care to prevent Fifteenthly And whereas a Five Shilling Piece of the late Mill'd Money weigh'd or ought to have weigh'd Four Hundred Sixty Four Grains and an half yet there is not One in Ten scarcely weighs above Four Hundred Sixty Two Grains which is Nineteen Penny Weight and Six Grains Therefore I Propose That a Piece of the same Weight and Fineness may be rated and pass at Six Shillings and Six Pence which is Thirty per Cent. more than it went for before and that a Piece of the same Weight and Fineness as the late New Half-Crown was may pass for Three Shillings and Three Pence and the Shilling for Nineteen Pence Half-Penny and the Six-Pence to contain Forty Five Grains and an half For without this Advance upon the Money when New Coyn'd it will be Melted down and Shipp'd off for the Reasons aforesaid If this Method be taken then the Coyn remains in the Weight and Purity it was in before and if there should happen to be Plenty of Silver at any time hereafter You may then reduce it without Calling it in or Altering the Form according as You find we are then supply'd with Plenty of Bullion either to the present Value or what You think fit But if it be Allay'd any thing considerably with Base Metal then it will be subject to be Counterfeited and there may be to the Value of Six Pence or Eight Pence of Base Metal put in a Crown Piece more than the Allay there ought to be and will not be distinguished unless by such who are well Skill'd in Money which Opportunity the Counterfeit Coyners would be glad of Eight Pence in a Crown Piece being Encouragement enough to set them on Coyning For which Reason I do not approve of Allaying the Coyn or Lessening the Fineness thereof by any Means Sixteenthly THAT after the First
Day of next Ensuing all Silver Imported in what Form soever it is whether in Ingots Dollars Bars or Cakes of Bullion if it be not Coyned here nor Sold for In-land Use when-ever it is Exported ought to pay Twenty pounds per Cent. Custom for these Reasons following He that Imports Silver and doth not Coyn it here doth the Nation no Service by his Importing it but a great deal of Prejudice because if the Value of it had been brought Home in any other Goods they must have Paid the King's Customs and the Goods would have been serviceable and useful one way or another for the English People and several Trades-Men according as the Goods should happen to be might have had Advantage by them but being brought over in Bullion and Shipp'd out again there 's not a Penny got but by the Importer and Exporter so that to suffer Silver to be Imported and Exported Custom-free is extreamly Destructive to the Interest and Welfare of the Nation For Example Suppose there was little or no Cocheneal in Holland and the English Fleet coming from Cadiz should being Five Tons Home when the Price in England is Twenty Five Shillings a Pound and Thirty Shillings a Pound in Holland Is there any Reason why this Cocheneal should be brought into England by English Shipping put a-shoar here and afterwards Shipp'd for Holland because the Price is higher there than here and yet Pay no Customs inwards nor outwards I say No the KING ought to have his Customs Paid nor ought it to be so with Silver The same may be said for all other Sorts of Goods as well as Cocheneal if they may be brought in and carried out Custom-free Who would not deal in those that are so For suppose the Hollanders and Hamburghers had little or no Shipping It is reasonable the English Merchants or any others should Import Goods in England and when they think fit Export them to Holland or Hamborough and Pay no Customs in nor out Surely they ought not nor will any reasonable Man say they should unless he would have the King's Customs brought to nothing and the Publick Expence barely maintain'd out of the Crown Lands The Case is the very same with Silver if it be brought in here and Shipp'd out again it ought to Pay a very considerable Duty outwards though none inwards because the Suffering of Bullion to be Exported without Paying a Duty under the Pretence of Foreign Silver hath given great Encouragement and been the only Cause of the Melting down of our Coyn and Mixing Thousands of Ounces of it with a few Dollars which the Exporter hath thought sufficient to make it pass for Foreign Silver which Method having been Practic'd for some Years past hath swallowed up above one Third of our Coyn. And the same thing will be Practiz'd more than it ever hath been when the Money is New Coyned and made ready for them unless it be raised Thirty Pounds per Cent. And at the same time a Duty laid upon all Bullion if Transported Objection What Man will bring Bullion into the Kingdom if he may not do what he pleaseth with it either Coyn it or Ship it abroad for the best of his Advantage Answer What Man would not bring other Goods to England as well as Silver if he may Import and Export them Custom-free Goods that Pay Custom inwards in Reason ought to have a draw-back if Exported but Silver Paying nothing inwards ought not to be suffered to be Exported without Paying a very considerable Duty for the Reasons afore-said viz. The Melting down of our Coyn and the Mixing great Quantities of it with a few Dollars for Foreign Use Some others may Object and say If the Value of the Coyn be raised The King's Revenues Landlords Rents Officers by Land and Sea Servants Wages and many other Things will be lessened This is a Mistake and a false Imagination of those that assert it for want of well considering the Nature of the Procurer and the Thing procured together with the Influence Law and Custom or an Act of Parliament will have on both For Example Suppose with Forty New Half-Crowns Weighing Thirty Nine Ounces I Buy Sixty Ells of Bayes at Twenty Pence an Ell and with Forty Clipp'd Half-Crowns Weighing Twelve Ounces you Buy as many Bays every way equal to mine in Goodness Have you not as much for your Light Money as I have for mine that is Heavy Doth not daily Experience shew it That a Shilling Clipp'd Buys and Pays for as much as a Shilling Unclipp'd Doth not that which is Valued Six Pence in Copper Money Buy as much as Six Pence in Silver will although the Copper in its Intrinsick Value is not worth above a Groat These are the Effects of Law and Custom when Denomination hath given them the Power of Operation and it will be the same in the New Coyn'd Money a Shilling Weighing Ninety One Grains and an half will pass for Nineteen Pence Half-Penny and Buy and Pay for so much as well as Nineteen Pence Half-Penny doth now and the New Crown-Piece when Valued at Six Shillings and Six Pence will Buy and Pay for as many Goods as Six Shillings and Six Pence now doth when Establish'd by Law and Custom to pass no more for Five Shillings but for Six Shillings and Six Pence In short The Valuing the Crown-Piece at Six Shillings and Six Pence will neither affect nor lessen The King's Revenues The Landlords Rents The Officers by Sea and Land Servants Wages nor any thing else of that kind But it will have a very great Influence upon the Working Silver-Smiths and such as used to Melt down the Coyn for Exportation they only will be defeated but no Body else will be prejudiced by Raising the Value of the Coyn and therefore such Persons may think they have Reason to exclaim against it But for the Satisfaction of them and all such who shall offer any Arguments against Raising the Value of the Coyn I shall only ask 'em this Question which will determin the thing and put an end to all their weak Disputes What if the King of SPAIN should shut up all his Ports in AMERICA and bring no Silver from thence for Seven Years or more or How if any Difference or Disorders should fall amongst the Spaniards and Natives there and the King of SPAIN to hinder the Mines from Working so that they should Export no Silver from thence in that time Would not your Crown-Piece be worth Seven Shillings then Yes Sir T would be worth Eight Shillings and more and happy would he be that could get it and One Shilling or an Eighth part of the Crown-Piece then would Buy and Pay for as much as a Shilling doth now without Lessening the King's Revenues Landlords Rents or any thing else And those Persons who have offered Arguments against Raising the Value of the Coyn or the holding up the Price of Guinneas have rashly done it without considering the following Circumstances and
their Effects So that My Lords and Gentlemen what You have chiefly to Consider in this Affair I Humbly conceive is for the greatest part included in these following Articles First The great Damage and Loss there will be by the Clipt and Counterfeit Money being at least Forty Five Pounds per Cent. whether it be better to Raise a Tax to make the Clipt Money good at the same time when the Money 's Call'd in or to raise the Value of the Money Thirty Pounds per Cent. whereby the Money will bear most of its own Damage and excuse the Land till a more plentiful time of Silver comes and then the Coyn may be reduc'd again as You see cause Secondly The Demand and great Necessity Foreigners have of Silver and the highest Price they will give for it from hence we may judge How to Value our New Coyn which certainly ought to be Valued Five Pounds per Cent. above the highest Price they will give for Silver otherwise it will not escape them Thirdly When any Bullion is Imported what it ought to be Rated at being equal to Standard and how many Grains that Rate shall be under the Price of Standard Money otherwise the Silver-Smiths will Work upon the Coyn and not give themselves the Trouble to seek out for Buying Bullion Nor will any Person send Bullion to the Tower to be Coyn'd unless the Coyn'd Money be above the Price of Bullion Fourthly What Price the Silver-Smiths shall Sell their Bulky Plain Plate at being Standard above the Price or Weight of New Coyn'd Money which ought to be very little Fifthly That a Duty answerable to what Foreigners will give for Silver above the Price of our present Coyn be laid upon Bullion if Transported with a Proviso for the East-India Company and all our Plantations as also for what hath Reference to His Majesty's Affairs which Duty will prevent the Melting down of our Coyn for Foreign Use Sixthly To consider if it will not be more convenient and a great Ease and Satisfaction to the People as also a Help to Finish the Coynage with a quicker Dispatch To have Twelve Mints set up in the most convenient Places of England and Wales where the County-Offices shall be kept rather than to bring all the Money from the Remote Parts of England and Wales to London And that there be a Refiner at every Mint to Melt down the Bad Money and to blow the Base Metal from it till it is brought to the Perfection of Standard Silver Seventhly That if You Raise the Coyn Thirty Pounds per Cent. That will nearly Discharge the Loss of the Clipp'd Money and when it appears by the Register of every particular County and the Parishes thereof what further Damage than Thirty Pounds per Cent. each Parish shall suffer That then it be Enacted THAT every Parish shall Tax and Assess it self with a Tax to be Paid at Four Yearly Payments to make the Remaining Damage good With Submission I Humbly Offer this as my Reason because in all Publick Affairs one Parish doth not bear the Charges of another for certainly the more Money there is in any Parish the better able that Parish will be to bear this Tax And I know no Reason why that Parish or that Man who hath little Clipp'd Money should bear the Burthen of such as have Eighthly Whereas some Persons have Writ against the Price of Guinneas going at Thirty Shillings and seem to assert as if that Price had been or would be a Damage to the Nation this proceeds from Want of Consideration and therefore renders them that think so Guilty of Mistake for having not Examin'd the past present and future Circumstances of England their Opinions are given without any Reason or just Cause for what they say as may appear by what follows I am of Opinion That the Price of Guinneas coming up to Thirty Shillings hath done the Nation such a piece of Service that all the Industry and Wit of Man could not have found out a better way for the Support of the Government and Good of the People in this Juncture which I make out thus Suppose there have been 500000 Guinneas Imported in England since Christmas 1694 the Guinneas are but Return'd to the Countrey where they ought to be and without this Accident of their Rise we could not have contriv'd any way to have brought them to England again Now Valuing each Guinnea at Thirty Shillings although they came in at cheaper Prices but admitting them to be Eight Shillings and Six Pence more than they formerly went at the Advance upon them comes but to 212500 l. And What if it doth Is this so much every Penny of this Money and more hath been and will be got before Christmas next by the Advance of our Goods which have been and will be Shipp'd off for Foreign Use Since the First of May last by this Happy Accident of the Rise of Guinneas we have brought all Europe a great Part of Asia some Places in Africa and the most Parts of America that have any Correspondence with Europe to be Contributors towards the Charge of the War which no other Contrivance or Invention could have affected but only the Rise of Guinneas and whether this be taken Notice off or no it is infallibly true France it self since the Rise of Guinneas hath not escap'd bearing a proportionable Part of our Charge for since the Rise of Guinneas all Goods we Export have Risen and now the Foreigners Pay for them which before the Rise of Guinneas they had in a manner for Fetching away whereby the Natives of England bore all the Burthen and wrought only to make the Foreigner Rich. Objection But some may Object and say The Foreigners will pour in all their Gold upon us if Guinneas go at this high Rate Answer The more they bring the better Experience will shew it self and 't will certainly prove true Where-ever the Gold or Silver is there the Trade must and will be But there is no Reason for such Persons to believe that any Part of Europe is so flush of Gold as to hold out Annually with the Production or Manufactures of the Goods of England Gold doth not multiply and increase in Holland every Day Week and Month as the Goods and Manufactures of England do especially when they are incourag'd in Price Those that sent the Guinneas before may send as many more if they can tell where to have them and be furnish'd with Goods again They have nothing but the Labour of our Hands for their Gold and that Labour or the Product thereof for good Prices we are very willing to afford them and should be glad of the Opportunity that all our Hands might go to work But some Persons whose Heads are only possess'd with Chimaera's are apt to say The Dutch and Hamburghers have Bought as many Goods as will serve them some Years and that they will want no more for some time These are the Fancies and