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A44077 The groans of the poor, the misery of traders, and the calamity of the publick for the spoiling of our money, for the want of our money, and for the loss that will befal the King and the nation, if there be not as much money coined in the room of it, to pay our taxes, drive our trades, pay our rents, and the the poor to buy bread : and an humble proposal to raise four millions of money for His Majesty's and the nation's use / humbly proposed by a faithful servant to His Majesty and the nation, William Hodges. Hodges, William, Sir, 1645?-1714. 1696 (1696) Wing H2328; ESTC R36001 23,173 37

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be with Bills from Shop to Shop and exchange Bills at every one of them for several Shops so that if one in ten could spare money it would serve and the Bills were paid But by that trick I being once or twice so served I learned to consider of it more afterwards and also to meditate on the nature of their Trade how they could pay 6 per Cent. ready money and the Law allows themselves to take no more and yet they get Estates but then I considered many men for some Years it may be since money hath been so bad hath rather chosen to take Goldsmith's Notes and these Sums as I said of Paper-money among the Goldsmiths being modestly computed at two millions of money the Interest is a hundred and twenty thousand Pound a Year clear profit among them And I suppose now the Bank may have a million or fifteen hundred thousand Pound in Bills and these Bills pass more current than Guinea's or our white money And indeed it may be one Goldsmith's Boy 's hand shall go for Bills of several Sums for Forty Thousand pound some of them two hundred or five hundred pound a piece to one man And I have seen such striving for Goldsmith's Bills and Bank-Bills of late makes men to conclude it would be extraordinary useful to have the four millions of Bills raised as aforesaid and that especially to supply our want of money now the Old is called in For though the old money was exceeding bad yet it served to Trade with and go to market And as many use to say If it was Leather if it would pass it would serve But I do verily think there will be exceeding great need to dispence the going of all Shillings and Six-pences that are not clipped within the Ring for poor People in City and Country to have money to buy their Bread with And in my Opinion the refusal of such money as is not clipped either Shillings or half Crowns is a grievous Affliction that People put upon themselves and on others For there must be money to change or if not farewel all the markets in England and sarewel great part of the Retailers of small Wares and Victuallers and Chandlers For in Holland and Suedeland where they strive to have in Bank Dollars and our Crown pieces for their great Payments they do take care to furnish the People with other money to Trade with that is not ready to carry away yet I say God sorbid we should have such mix'd base money as abundance of outlandish-money is yet we must have abundance of small money or the Poor may starve themselves for want of money to go to market with And for our new money if it be Coined with speed it must follow by consequence it must be Coined in Crown pieces and half Crowns and it is my real thoughts that the first half Years Coinage will be quickly melted down or carried away For if Silver be fallen on the very hopes of it a Shilling an Ounce when there is not a Supply from abroad for the Goldsmiths nor the Mint then I do judge it will keep down while that money lasteth And I do presume That all the Laws that have been made this three hundred Years could never prevent it For now Cheating the King and Nation is at a full growth almost and if the fear of Death and real Execution of some could not prevent Clipping and Coining where there must of necessity be several Consederates that have the knowledge of it How much easier will it be to melt it down where one man can melt down a thousand pound of it and neither Wise nor Servant ever know of it And if the same man should accuse himself he would be judged a mad man and so long as there is profit to carry it away it lies in so little room that it will be carried away if the Laws were Death and Forseiture of Goods if catched as it is in Spain and the Priest to tell them the great danger of breaking the King's Laws as they will pretend it may be Damnation in their own Cause But for the Cause of the King and Country the King's Officers the King's Souldiers and the Fatherly-Priest will all help away the money in despite of Law and Gospel for a few Dollars And if they or any Nation in the World out-does us either in Arts or Parts or Skill or Will to cheat their King and Country I am deceived let who will be paid most plentisully to the contrary And this I must say further if when our money was worth but two pence the Ounce melting down and six pence in the pound carrying away it was done both for some Years then now it hath been carried away or melted down so to be so scarce none appearing and they have taken our Goods of late instead of money and all our Manufactures in England hath had the greatest Trade for Transportation this Year that it may be hath been this twenty Years and our Goods risen because they send back our Guineas for them also then by the same Rule if our Guineas fall or our Silver worth carrying away our Goods may be left in our hands for Drugs as before and our money carried away and all that can be said to the contrary I fancy is only to endeavour to blind the Nation For indeed since our mill'd money is gone and the Clippings of the old melted down and gon and Silver did rise to seven Shillings the Ounce there was no likely way how to have Silver cheap For all the melting Goldsmiths in City and Country to be supplied with and for all Merchants to Ship off but by having large mill'd money enough to carry away But here will be this comfort that it will be seen in a Year or two how it is gone if it goeth though not how it goeth away And then if we have hardly money to Trade with the King and Parliament can then alter the Coinage to such a state as will stay with us and relieve us again For I do find it was made less and less in several Ages as about the Years and Times following   l. s. d. 1275. K. Edward I. A pound weight was 1 00 3 1353. Edw. III. A pound of Silver 1 05 0 1422. Henry V. A pound of Silver 1 10 0 1455. Henry VI. A pound of Silver 1 17 6 1509. Henry VIII A pound of Silver 2 05 0 1550. Edward VI. A pound of Silver 3 00 0 1562. Q. Elizabeth A pound was 3 02 0 So that in the first two hundred Years it did rise from a penny to two pence farthing that is from twenty pence the ounce to three Shillings and two pence the ounce and then in 50 Years from King Henry the VIII unto the beginning of Q. Elizabeth's Reign it rise fully a third part more and she established it to be at sixty two pence the ounce and there it hath staid ever since but that is