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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
Tennants and for merchants as well as Tradesmen and others But now If any shall say the Coining of money one eighth part less than our mill'd money would be a Reflection on us at this time To that I answer First It would be as if a generous Gentleman had used to treat Frenchmen several Years until his Estate began something to decay and also they began to quarrel with him and others to slight him and his own Family in the mean time began to want that money he had spent on others But however he did consider in time and got more good money and spent it in his own Family and among his Neighbours and they were all the better for it and his Father had many a good Treat out of it also and yet the Gentleman wasted none of his Estate The Strangers indeed would complain they could not cheat him as before but his Real Friends loved him the better And as the Wife man saith Prov. 9. 12. If thou be wise thou shalt be wise for thy self And indeed if others complain we are not so ready to part with our Silver as before let them know it is for the Publick Good for time present and for the Ages to come and if they will be so free to us for 30 Years to bring us so much good Money as they have gotten from us then let them complain but they neither are able nor willing to restore our Money to us again And indeed it is no reason the present Age or the Age to come should be beggar'd for a notion to please strangers and for our selves our money will be really better by about 30 l. in the hundred than our Old money if this new Coinage be Established and we may with Ease call in our broken money and have five times as much good money in the room of it in a very few Years and have it Coined all in mill'd Half-Crowns and Crown whereby it could not be clipt and would not be mo●…ed down and the Revenue that is now already for C●…ge may be given Their majesties for their use And 〈◊〉 any shall object that this New Coinage would not be large enough to Transport for paying off their Majesties Forces beyond Sea and so would be a prejudice to their majesties Affairs abroad Now to that I answer Such an Argument would be no Real Objection against this Coinage For first I do not hear there hath been above six or seven days work in Coining this several months And were we not better go to work constantly to Coin for the use of their Majesties and the Nation 's good here than to let the mint ly still and do nothing because of that But Secondly If there is a necessity of sending mill'd money to pay those Forces it is a sign that there hath been a dreadful havock of the mill'd money in times of Peace if thirty Years Coinage should have such large Wings as to fly away and not have enough left for that use and not Silver to supply the mint neither Thirdly But I suppose His Majesty can pay his Forces by Bills of Exchange for Foreign money as I do presume he hath done oftentimes before and so that objection makes much more against the Old mill'd money than this new proposed for Fourthly If there were plenty of Money Coined as there might be Two millions every Year the Return of it would be fifty Millions in a year and the People would be inabled chearfully to pay their Taxes freely and the King and People would be all happy in it Fifthly And indeed If I did not think it for the Common good of Their Majesties and the Nation also I should deserve severe Punishment for there is now at this time a necessity for us to defend our selves from that Common Plague of the Christian World the French Tyrant that hath burned more Christian Cities and Towns in his time than the Turks have done this Hundred and Fifty Years and hath rooted out the Protestant Religion more effectually out of his Nation than all the Bloody Persecutions did since the Reformation And it is a wonder to me if any Englishmen can be such Devilish Enemies to their own Religion and Country as to think that he that Ruins his own Subjects to plague all his Neighbours and hath ruined the Protestant Religion of his own Loving Faithful Subjects that he should be kind to us and establish a Protestant Church here is against Grace and Reason and common Sence to think and therefore Treason and Rebellion now looks like to Witchcraft for as Witches through Malice kill their Neighbour's Children and Cattle and are miserable themselves at last so those who would betray us to the French shew their Designs to be only Malice from the Devil for they could not secure themselves to enjoy two-pence of their Estates neither one Pennyworth of their Liberties nor one Farthing worth of their Religion if they have any if the French should prevail But we have cause to bless God for preserving these Nations and Their most Gracious Majesties and that Both of them and the Two most Honourable Houses of Parliament are so Unanimous against the Common Enemy and for the Interest and Happiness of Their Majesties and these Nations for the Time present and to come These Proposals are Humbly Presented by a True Lover of Their Majesties and the Prosperity Liberty and Safety of these Nations And that in the Safety of these Nations I may be Safe while I Remain Their Majesties Faithful Subject VVilliam Hodges Hermitage Decem. 11. 1693. This Sheet of Paper last foregoing was my Thoughts then how our mill'd money was melted down or carried away and the other Ruin'd But now I find if I mistake not there will be need of near a Million of our old money if it be Coined as Large as the old mill'd money to be carried into Scotland after it is Coined into five hundred thousand pound That is I hear there is three hundred thousand pound subscribed in England to help carry on their East India and West India Trade and they send us home ten or twenty thousand pound of our old money in a Ship And if they send us but two hundred thousand pound and take two hundred thousand pound of mill'd money again that will make up half a Million of the New And yet I hear there hath been some Consultation how to prevent their Trade's Increase and our Trade's Ruin But if we provide them large money I fear it will be the greatest help to them in Trade that ever they had Whereas money at 3 quarters the mill'd weight would be the way to prevent their design in a great measure But it may be the most effectual way to Ruine their Trade would be if we could transfer some of our Plagues to them our Cheatsaud Fxtortioning Ticket-buyers and such Commanders of Men of War as he that Run away from the Privateer lately when he had about one Man wounded and let a New Ship be taken coming from Shoram and also others that have fool'd away our Ships of War and Merchant Men and send an English Admiralty and Navy-Board the one to put in such Officers as will do as aforesaid and Run up and down and do them no good and if all agree together to Ruin their Seamen and Trade and to hide an smuggle up all Cheating Cowardize and Roguery and that all these may be still protected and employed until their Trade and Ships be Ruined and that will do the work And if any object and say No Nation would suffer such to Ruin themselves and will by Ignorance or Villany Ruin their Trade except they were under the Judgment threatned to Israel of old to be smitten with Madness and Blindness To that I would answer I suppose they would not suffer them if they saw they were so greatly Ruined and indeed I would not wish them such Plagues But that their out-doing us in our Trade may be prevented by our hindring them a Supply of Large Money it being to be feared we have frightned home many Droves of their Seamen lately which will be one great help to them So begging of the Lord to direct and bless our gracious King William and our Loyal Parliament and these Nations and be the Portion and Blessing of them and me and all my Family And intreating Pardon for what is amisss in this or any thing wherein I mistake I subscribe my self His Most Gracious Majesty King William's Faithful Subject and the Nations Faithful Friend W. Hodges Hermitage-Bridge Jan. 18. 1695. FINIS