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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 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