a_o proposal_n for_o supply_v his_o majesty_n with_o twelve_o hundred_o thousand_o pound_n by_o mend_v the_o coin_n and_o yet_o preserve_v the_o ancient_a standard_n of_o the_o kingdom_n by_o a_o gentleman_n london_n print_v and_o be_v to_o be_v sell_v by_o john_n whitlock_n near_o stationers-hall_n 1695._o to_o the_o right_n honourable_a the_o lord_n commissioner_n of_o his_o majesty_n treasury_n may_v it_o please_v your_o lordship_n the_o press_a necessity_n of_o his_o majesty_n for_o speedy_a and_o effectual_a supply_n to_o carry_v on_o the_o present_a war_n with_o france_n the_o badness_n of_o our_o coin_n and_o the_o design_n of_o some_o people_n to_o bring_v a_o dis-reputation_n upon_o his_o majesty_n by_o alter_v the_o ancient_a standard_n thereof_o put_v i_o upon_o some_o thought_n how_o all_o these_o inconvenience_n may_v in_o some_o measure_n be_v accommodate_v which_o i_o think_v with_o submission_n to_o your_o lordship_n better_a judgement_n may_v by_o the_o follow_a method_n easy_o be_v obtain_v but_o after_o i_o have_v by_o the_o small_a interval_n of_o time_n the_o pressure_n of_o my_o own_o affair_n give_v i_o accomplish_v the_o same_o i_o come_v to_o a_o sight_n of_o the_o book_n write_v by_o that_o most_o ingenious_a gentleman_n mr._n lowndes_n which_o i_o can_v have_v wish_v have_v be_v soon_o that_o according_a to_o my_o weak_a capacity_n i_o may_v have_v particular_o answer_v his_o reason_n for_o lightning_n the_o standard_n of_o our_o money_n to_o the_o foot_n of_o six_o shilling_n and_o five_o penny_n halfpenny_n the_o ounce_n which_o that_o my_o pressure_n of_o business_n will_v not_o now_o give_v i_o leave_v to_o do_v and_o therefore_o as_o it_o be_v beg_v your_o lordship_n favourable_a acceptance_n thereof_o only_o crave_v leave_v to_o mind_v your_o honour_n of_o the_o strenuous_a argument_n urge_v hy_z he_o against_o debase_v our_o standard_n by_o alloy_n to_o which_o i_o think_v myself_o happy_a to_o agree_v but_o at_o the_o same_o time_n extreme_o wonder_n he_o do_v not_o perceive_v they_o bear_v the_o same_o force_n and_o energy_n against_o debase_v it_o by_o weight_n for_o it_o can_v admit_v of_o no_o dispute_n that_o debase_v our_o standard_n twenty_o five_o per_fw-la cent._n by_o alloy_n or_o debase_v it_o twenty_o five_o per_fw-la cent._n by_o weight_n which_o be_v what_o he_o argue_v for_o be_v both_o the_o same_o thing_n but_o the_o mistake_a ground_n of_o his_o reason_n herein_o arise_v from_o the_o present_a great_a price_n of_o bullion_n whilst_o he_o consider_v not_o the_o badness_n of_o our_o money_n be_v the_o occasion_n thereof_o and_o that_o as_o if_o the_o money_n be_v new_o coin_v at_o six_o shilling_n and_o five_o penny_n halfpenny_n the_o ounce_n bullion_n will_v bear_v that_o price_n so_o if_o it_o can_v be_v coin_v at_o the_o present_a standard_n it_o will_v bear_v but_o five_o shilling_n two_o penny_n the_o ounce_n unless_o as_o it_o will_v in_o both_o case_n bear_v two_o penny_n or_o three_o penny_n a_o ounce_n more_o when_o we_o be_v to_o pay_v our_o debt_n abroad_o and_o must_v pay_v it_o in_o bullion_n because_o our_o law_n have_v prevent_v we_o pay_v it_o in_o money_n which_o will_v be_v quite_o the_o contrary_a be_v that_o i_o have_v hereafter_o propose_v permit_v to_o be_v do_v and_o therefore_o i_o may_v conclude_v that_o upon_o second_o thought_n he_o will_v join_v issue_n with_o i_o that_o our_o standard_n of_o alloy_n and_o weight_n be_v both_o the_o same_o thing_n and_o aught_o for_o the_o honour_n of_o his_o majesty_n and_o justice_n to_o his_o people_n inviolable_o to_o be_v preserve_v especial_o since_o it_o will_v cost_v the_o nation_n by_o his_o own_o calculation_n and_o therein_o he_o have_v the_o general_n opinion_n but_o five_o hundred_o thousand_o pound_n more_o than_o it_o will_v if_o debase_v to_o this_o standard_n a_o small_a pittance_n in_o comparison_n to_o what_o i_o have_v make_v out_o must_v be_v lose_v by_o the_o landlord_n thereby_o upon_o the_o whole_a if_o the_o money_n must_v be_v new_o coin_v the_o standard_n ought_v to_o be_v keep_v sacred_a but_o whether_o it_o be_v or_o be_v not_o when_o it_o be_v so_o new_a coin_v it_o may_v well_o be_v fear_v whilst_o the_o war_n last_o we_o shall_v be_v attend_v with_o great_a evil_n than_o now_o and_o that_o consumption_n we_o now_o linger_v under_o be_v turn_v to_o immediate_a death_n by_o our_o foreign_a creditor_n take_v from_o we_o what_o we_o owe_v they_o in_o specie_fw-la or_o worser_o make_v we_o pay_v exorbitant_a interest_n for_o the_o same_o and_o therefore_o since_o the_o great_a mischief_n of_o our_o coin_n in_o bring_v it_o into_o dis-reputation_n with_o our_o common_a people_n at_o home_n proceed_v rather_o from_o the_o counterfeit_n than_o clip_v money_n i_o have_v since_o think_v that_o with_o submission_n to_o your_o lordship_n it_o may_v be_v better_o during_o the_o war_n unless_o as_o in_o my_o proposal_n for_o the_o benefit_n of_o supply_v his_o majesty_n therewith_o to_o scuffle_v on_o with_o our_o clip_v money_n than_o call_v it_o in_o and_o that_o a_o cure_n of_o our_o counterfeit_n will_v be_v easy_o effect_v if_o a_o law_n be_v pass_v that_o for_o the_o future_a all_o receiver_n of_o the_o public_a revenue_n and_o their_o deputy_n or_o clark_n if_o person_n know_v to_o be_v well_o skilled_a as_o they_o ought_v to_o be_v in_o the_o goodness_n of_o sterling_a silver_n and_o all_o goldsmith_n shall_v be_v oblige_v upon_o oath_n when_o any_o money_n shall_v be_v tender_v they_o in_o payment_n that_o beyond_o dispute_n appear_v to_o be_v make_v of_o counterfeit_n metal_n upon_o discovery_n thereof_o to_o cut_v it_o in_o two_o and_o return_v it_o to_o the_o owner_n and_o likewise_o if_o they_o offer_v any_o such_o counterfeit_n in_o payment_n and_o it_o be_v refuse_v they_o shall_v in_o the_o presence_n of_o the_o say_a refuser_n if_o demand_v also_o cut_v it_o in_o two_o which_o practice_n will_v soon_o destroy_v that_o many_o head_a hydra_n whilst_o now_o people_n with_o impunity_n offer_v counterfeit_n money_n to_o such_o receiver_n and_o goldsmith_n and_o they_o again_o to_o the_o subject_a which_o make_v a_o vent_n for_o it_o and_o cause_v a_o vexation_n in_o trade_n by_o perpetual_a circulation_n thereof_o and_o though_o it_o be_v true_a that_o such_o art_n will_v at_o first_o occasion_n great_a loss_n to_o the_o possessor_n thereof_o yet_o since_o it_o be_v but_o what_o must_v fall_v upon_o they_o if_o the_o money_n be_v call_v in_o they_o can_v sure_o repine_v thereat_o if_o any_o of_o my_o thought_n herein_o or_o in_o my_o follow_a proposal_n may_v stir_v up_o more_o able_a head_n to_o better_a conception_n or_o tend_v to_o the_o service_n of_o his_o majesty_n and_o good_a of_o my_o fellow-subject_n but_o especial_o to_o the_o keep_n up_o the_o glory_n and_o honour_n of_o our_o sovereign_n to_o the_o standard_n of_o the_o most_o famous_a of_o his_o predecessor_n i_o have_v the_o end_n of_o my_o ambition_n desire_v no_o other_o reward_n of_o my_o labour_n and_o therefore_o make_v use_n of_o this_o method_n of_o conveyance_n by_o the_o penny-post_n to_o your_o lordship_n and_o to_o be_v veil_v under_o a_o feign_a name_n though_o otherwise_o london_n nou._n 29._o 1695._o my_o lord_n your_o lordship_n most_o humble_a and_o most_o obedient_a servant_n l._n r._n a_o proposal_n for_o supply_v his_o majesty_n with_o twelve_o hundred_o thousand_o pound_n sterling_a or_o more_o for_o this_o year_n service_n of_o the_o war_n increase_v the_o money_n or_o at_o least_o that_o which_o be_v as_o good_a as_o the_o money_n of_o the_o nation_n to_o the_o like_a sum_n of_o twelve_o hundred_o thousand_o pound_n and_o make_v a_o great_a step_n towards_o alter_a the_o coin_n by_o call_v in_o the_o most_o vncurrant_a part_n thereof_o that_o be_v the_o crown_n and_o half_a crow_n vnmil_v which_o indeed_o be_v now_o almost_o become_v useless_a cash_n and_o yet_o nevertheless_o still_o to_o preserve_v the_o ancient_a standard_n of_o the_o kingdom_n together_o with_o some_o of_o the_o advantage_n of_o this_o proposal_n demonstrate_v and_o objection_n thereto_o answer_v 1._o first_o allow_v that_o according_a to_o the_o general_n opinion_n the_o cash_n of_o the_o nation_n may_v be_v six_o million_o of_o pound_n it_o may_v be_v very_o well_o suppose_v that_o one_o three_o of_o it_o be_v crown_n and_o half_a crown_n which_o be_v new_o coin_v will_v at_o least_o produce_v twelve_o hundred_o thousand_o pound_n according_a to_o the_o standard_n of_o england_n it_o be_v therefore_o propose_v that_o all_o unmilled_a crown_n and_o half_a crown_n shall_v by_o act_n of_o parliament_n be_v make_v unlawful_a to_o utter_v in_o payment_n after_o the_o twenty_o nine_o day_n of_o september_n 1696._o 2._o second_o that_o by_o the_o twenty_o five_o day_n of_o march_n 1696._o a_o sufficient_a number_n
of_o all_o person_n shall_v single_o have_v power_n at_o their_o several_a shop_n to_o take_v they_o in_o and_o give_v receipt_n or_o certificate_n to_o the_o officer_n of_o the_o mint-office_n at_o the_o exchequer_n of_o all_o such_o sum_n as_o shall_v be_v pay_v they_o in_o whereby_o they_o shall_v become_v chargeable_a therewith_o which_o goldsmith_n shall_v be_v swear_v to_o do_v justice_n without_o favour_n or_o affection_n according_a to_o the_o best_a of_o their_o skill_n and_o judgement_n betwixt_o the_o king_n and_o subject_a nine_o that_o the_o say_v twenty_o or_o other_o number_n of_o goldsmith_n to_o prevent_v any_o undue_a practice_n to_o be_v commit_v by_o they_o in_o their_o be_v covetous_a one_o to_o take_v in_o more_o than_o the_o other_o and_o be_v partial_a to_o particular_a people_n shall_v be_v all_o limit_v to_o equal_a sum_n as_o one_o hundred_o thousand_o pound_n apiece_o and_o at_o their_o daily_a meeting_n to_o determine_v dispute_n of_o the_o goodness_n of_o the_o silver_n of_o the_o crown_n half_a crown_n and_o shilling_n as_o aforesaid_a shall_v adjust_a among_o themselves_o once_o a_o week_n how_o much_o each_o person_n have_v take_v in_o and_o as_o nigh_o as_o possible_a the_o follow_a week_n so_o to_o order_v it_o that_o each_o goldsmith_n may_v be_v bring_v to_o a_o equality_n therein_o with_o each_o other_o ten_o if_o it_o shall_v be_v find_v impracticable_a by_o the_o rule_n and_o method_n of_o the_o mint_n to_o take_v in_o from_o the_o respective_a goldsmith_n such_o crown_n half-crown_n and_o shilling_n in_o one_o hundred_o pound_n parcel_n unmelted_a into_o ingot_n as_o aforesaid_a the_o say_a goldsmith_n to_o have_v power_n to_o melt_v they_o down_o always_o cast_v two_o hundred_o and_o fifty_o pound_n tale_n neither_o more_o nor_o less_o into_o one_o ingot_n which_o they_o shall_v deliver_v into_o the_o mint_n by_o assay_v where_o it_o be_v according_a to_o the_o rule_n of_o the_o mint_n reduce_v to_o pound_n weight_v standard_n the_o say_v goldsmith_n shall_v pay_v into_o the_o exchequer_n when_o coin_v so_o much_o as_o such_o ingot_n shall_v make_v standard_n weight_n to_o be_v account_v after_o the_o rate_n of_o three_o pound_n two_o shilling_n the_o pound_n weight_n which_o they_o shall_v faithful_o perform_v upon_o oath_n without_o fraud_n or_o deceit_n and_o as_o a_o sort_n of_o a_o check_n upon_o each_o goldsmith_n by_o compare_v the_o weight_n of_o their_o ingot_n and_o to_o charge_v they_o therewith_o in_o the_o exchequer_n the_o comptroler_n of_o the_o mint_n shall_v certify_v into_o the_o exchequer_n once_o a_o week_n the_o gross_a weight_n and_o weight_n standard_n of_o such_o respective_a ingot_n the_o benefit_n of_o this_o proposal_n be_v many_o and_o great_a among_o which_o some_o be_v first_o that_o hereby_o his_o majesty_n will_v be_v supply_v with_o at_o least_o twelve_o hundred_o thousand_o pound_n of_o ready_a money_n for_o this_o year_n service_n of_o the_o war_n and_o the_o nation_n pay_v but_o a_o moderate_a interest_n for_o it_o little_o more_o or_o may_v be_v less_o then_o six_o per_fw-la cent._n per_fw-la annum_fw-la and_o yet_o by_o gradual_a and_o easy_a payment_n repay_v the_o principal_a second_o this_o proposal_n chalk_v out_o a_o way_n for_o the_o like_a supply_n if_o there_o be_v occasion_n for_o two_o year_n more_o by_o next_o year_n take_v in_o the_o shilling_n and_o the_o follow_a year_n the_o sixpence_n unmil_v whereby_o the_o whole_a coin_n of_o the_o kingdom_n in_o three_o year_n time_n as_o little_a as_o can_v be_v take_v for_o it_o will_v be_v bring_v to_o its_o ancient_a purity_n and_o yet_o no_o single_a person_n be_v a_o sufferer_n thereby_o as_o by_o other_o project_n of_o lessen_v the_o coin_n they_o will_n three_o allow_v his_o majesty_n to_o grant_v leave_n to_o export_v two_o hundred_o thousand_o pound_n of_o this_o new_a money_n for_o his_o service_n in_o flanders_n which_o be_v as_o much_o as_o be_v grant_v last_o session_n of_o parliament_n to_o be_v export_v in_o english_a bullion_n and_o prove_v sufficient_a and_o it_o may_v be_v will_v none_o of_o it_o have_v be_v make_v use_n of_o have_v not_o our_o immoderate_a thirst_n of_o gold_n and_o extravagant_a rise_v thereof_o cause_v so_o great_a a_o alteration_n of_o the_o exchange_n for_o holland_n flanders_n and_o other_o part_n of_o europe_n yet_o the_o nation_n will_v hereby_o be_v supply_v this_o year_n with_o one_o million_o of_o cash_n more_o than_o they_o have_v at_o present_a to_o carry_v on_o their_o trade_n for_o though_o it_o be_v true_a that_o the_o two_o million_o that_o be_v call_v in_o will_v be_v convert_v into_o paper_n yet_o it_o can_v be_v deny_v but_o it_o will_v pass_v better_o in_o payment_n than_o the_o present_a crown_n and_o half_a crown_n unmil_v which_o be_v now_o almost_o whole_o decry_v and_o become_v useless_a cash_n to_o any_o but_o banker_n and_o person_n well_o skilled_a in_o they_o and_o not_o among_o they_o without_o great_a quarrel_n and_o dispute_n and_o since_o common_a experience_n show_v we_o that_o the_o bank_n of_o england_n seal_a bill_n which_o be_v precarious_a and_o bear_v but_o three_o pound_n and_o ten_o penny_n per_fw-la cent._n per_fw-la annum_fw-la be_v rather_o make_v choice_n of_o in_o payment_n than_o money_n it_o may_v well_o be_v conclude_v these_o will_v be_v more_o acceptable_a that_o bear_v three_o pound_n sixteen_o shilling_n and_o a_o halfpenny_n per_fw-la cent._n per_fw-la annum_fw-la beside_o have_v a_o positive_a act_n of_o parliament_n for_o the_o make_v they_o currant_n in_o payment_n but_o more_o especial_o will_v they_o be_v covet_v and_o seek_v after_o if_o the_o bank_n of_o england_n and_o all_o other_o society_n of_o man_n or_o single_a person_n be_v restrain_v by_o act_n of_o parliament_n from_o give_v any_o sort_n of_o interest_n for_o money_n upon_o demand_n the_o do_v of_o which_o have_v be_v chief_o the_o occasion_n of_o our_o present_a scarcity_n of_o silver_n money_n it_o be_v thereby_o monopolise_v and_o thence_o natural_o follow_v the_o rise_n of_o guinea_n to_o first_o twenty_o five_o shilling_n from_o whence_o by_o art_n and_o stock-jobbing_a they_o be_v bring_v up_o to_o the_o now_o so_o great_a price_n as_o thirty_o shilling_n that_o have_v bring_v in_o the_o present_a inundation_n of_o gold_n upon_o we_o for_o it_o can_v be_v imagine_v that_o in_o a_o twelvemonth_n last_o pass_v the_o plenty_n of_o silver_n money_n we_o have_v before_o can_v be_v so_o far_o exhaust_v the_o kingdom_n as_o at_o present_v it_o seem_v to_o be_v that_o it_o shall_v occasion_v guinea_n to_o rise_v from_o two_o and_o twenty_o shilling_n to_o thirty_o but_o must_v be_v acknowledge_v the_o effect_n of_o what_o be_v foretell_v at_o the_o erect_v the_o bank_n of_o england_n that_o the_o money_n of_o the_o nation_n will_v thereby_o and_o by_o their_o example_n by_o other_o bank_n be_v monopolise_v and_o unless_o such_o restraint_n be_v put_v to_o such_o bank_n society_n of_o man_n or_o single_a person_n it_o will_v be_v in_o vain_a to_o new-coin_n the_o unmilled_a crown_n and_o half-crown_n for_o the_o subject_n will_v be_v soon_o deprive_v of_o the_o benefit_n thereof_o by_o their_o engross_n it_o four_o this_o will_v be_v a_o great_a and_o good_a beginning_n towards_o the_o alter_a the_o coin_n of_o the_o nation_n and_o reduce_v it_o to_o its_o ancient_a purity_n and_o thereby_o fix_v a_o certain_a standard_n or_o measure_n for_o our_o commodity_n and_o that_o by_o call_v in_o the_o worst_a or_o at_o least_o now_o most_o useless_a part_n thereof_o and_o prevent_v the_o great_a vexation_n that_o be_v now_o among_o trader_n dispute_v what_o and_o what_o be_v not_o passable_a and_o may_v be_v hope_v to_o have_v that_o good_a effect_n to_o bring_v forth_o into_o trade_n a_o great_a deal_n of_o money_n which_o now_o be_v hoard_v up_o for_o fear_v if_o it_o be_v part_v with_o the_o same_o value_n may_v not_o again_o be_v obtain_v but_o especial_o will_v it_o have_v that_o effect_n to_o bring_v forth_o such_o money_n if_o a_o act_n of_o parliament_n be_v pass_v declare_v that_o the_o clip_v shilling_n and_o sixpence_n shall_v likewise_o speedy_o be_v call_v in_o and_o make_v good_a in_o the_o same_o or_o some_o such_o manner_n to_o the_o possessor_n of_o they_o as_o the_o crown_n and_o half-crown_n be_v and_o in_o truth_n if_o only_o some_o such_o act_n be_v pass_v enforce_v for_o the_o present_a the_o clip_a crown_n half-crown_n shilling_n and_o sixpence_n to_o pass_v as_o the_o coin_n of_o the_o kingdom_n more_o current_o than_o they_o now_o do_v it_o may_v be_v doubt_v whether_o that_o may_v not_o be_v better_o than_o to_o meddle_v with_o the_o money_n till_o the_o war_n be_v over_o for_o if_o our_o money_n be_v reduce_v to_o a_o equality_n of_o standard_n whether_o of_o the_o present_a standard_n of_o
shall_v not_o be_v then_o or_o before_o repay_v the_o same_o then_o to_o go_v and_o be_v apply_v towards_o repayment_n of_o the_o remain_a principal_a part_n of_o the_o say_v two_o million_o and_o as_o a_o proper_a tax_n for_o the_o say_v fund_z it_o be_v presume_v the_o duty_n upon_o salt_n at_o least_o with_o some_o small_a addition_n may_v be_v sufficient_a the_o same_o expire_a the_o seventeen_o day_n of_o may_n 1697._o till_o which_o time_n the_o seventy_o six_o thousand_o forty_o one_o pound_n thirteen_o shilling_n and_o four_o penny_n that_o shall_v be_v due_a for_o the_o first_o year_n interest_n due_a the_o twenty_o five_o day_n of_o march_n 1697._o may_v be_v pay_v and_o make_v good_a to_o the_o proprietor_n out_o of_o the_o new_a coin_a money_n produce_v from_o the_o say_v two_o million_o and_o so_o much_o appropriate_v thereout_o though_o a_o duty_n of_o twelve_o penny_n per_fw-la quarter_n upon_o all_o malt_n will_v be_v a_o better_a fund_z and_o perhaps_o sufficient_a enough_o for_o four_o million_o more_o if_o the_o shilling_n and_o sixpence_n be_v likewise_o call_v in_o second_o that_o sometime_o before_o the_o twenty_o five_o day_n of_o march_n 1696._o a_o office_n be_v erect_v at_o the_o exchequer_n and_o make_v perpetual_a by_o act_n of_o parliament_n to_o be_v call_v the_o mint-office_n at_o the_o exchequer_n whereby_o his_o majesty_n and_o his_o successor_n patent_n a_o sufficient_a number_n of_o officer_n of_o know_a reputation_n as_o comptroller_n treasurer_n accountant_a and_o their_o clerk_n shall_v be_v always_o appoint_v for_o execution_n of_o this_o act_n who_o place_n and_o salary_n the_o better_a to_o secure_v their_o fidelity_n shall_v be_v make_v for_o life_n and_o not_o to_o be_v forfeit_v but_o by_o breach_n of_o this_o act_n or_o some_o other_o act_n where_o by_o the_o law_n of_o england_n their_o estate_n may_v become_v forfeit_v three_o that_o before_o the_o say_v twenty_o five_o day_n of_o march_n 1696._o the_o say_v officer_n shall_v prepare_v and_o get_v ready_a to_o deliver_v out_o two_o hundred_o thousand_o note_n or_o bill_n bear_v each_o ten_o pound_n sterling_a and_o payable_a with_o interest_n from_o the_o say_v twenty_o five_o day_n of_o march_n 1696._o to_o the_o possessor_n after_o the_o rate_n of_o one_o farthing_n a_o day_n to_o be_v pay_v half_o yearly_a for_o ever_o or_o till_o repayment_n of_o each_o the_o say_v ten_o pound_n which_o note_n or_o bill_n may_v be_v in_o the_o follow_a or_o the_o like_a form_n in_o consideration_n of_o ten_o pound_n deliver_v in_o to_o one_o of_o his_o majesty_n commissioner_n for_o take_v in_o two_o million_o of_o unmilled_a coin_n of_o the_o kingdom_n to_o be_v new_o coin_v according_a to_o act_n of_o parliament_n make_v in_o the_o seven_o year_n of_o the_o reign_n of_o king_n william_n the_o three_o this_o bill_n entitle_v the_o possessor_n thereof_o to_o the_o say_a sum_n of_o ten_o pound_n to_o be_v pay_v he_o at_o the_o mint-office_n at_o the_o exchequer_n out_o of_o the_o fund_z settle_v for_o that_o use_v by_o virtue_n of_o the_o say_a act_n and_o for_o want_v of_o such_o payment_n or_o otherwise_o by_o act_n of_o parliament_n to_o a_o interest_n of_o one_o farthing_n a_o day_n for_o ever_o out_o of_o the_o say_v fund_z to_o be_v pay_v half_o yearly_a from_o the_o date_n hereof_o and_o at_o the_o expiration_n of_o each_o and_o every_o of_o such_o half_a year_n to_o a_o new_a bill_n of_o the_o like_a tenor_n with_o this_o which_o be_v then_o to_o be_v deliver_v up_o and_o far_o until_o such_o repayment_n of_o the_o say_v ten_o pound_n this_o bill_n and_o the_o succeed_a to_o pass_v current_o in_o all_o manner_n of_o payment_n for_o twelve_o month_n from_o the_o date_n thereof_o for_o ten_o pound_n and_o the_o interest_n due_a thereon_o four_o that_o after_o the_o say_v twenty_o five_o day_n of_o march_n 1696._o the_o say_v officer_n shall_v attend_v at_o the_o say_a office_n from_o eight_o of_o the_o clock_n in_o the_o morning_n to_o one_o afternoon_n every_o day_n in_o the_o week_n except_o holiday_n to_o deliver_v out_o the_o say_a note_n or_o bill_n which_o they_o shall_v do_v to_o any_o person_n bring_v a_o receipt_n or_o certificate_n from_o any_o one_o of_o the_o say_a commissioner_n that_o he_o have_v pay_v he_o in_o ten_o pound_n or_o several_a ten_o pound_n which_o receipt_n or_o certificate_n they_o shall_v enter_v in_o a_o book_n and_o file_v up_o thereby_o to_o charge_v the_o say_a commissioner_n the_o person_n bring_v it_o first_o pay_v into_o the_o treasurer_n of_o the_o say_a office_n so_o much_o as_o shall_v be_v due_a on_o each_o of_o the_o say_a note_n or_o bill_n for_o interest_n and_o such_o interest_n to_o be_v apply_v towards_o repayment_n of_o the_o principal_a sum_n of_o two_o million_o five_o that_o the_o say_a officer_n after_o the_o say_v twenty_o five_o day_n of_o march_n 1696._o and_o before_o the_o twenty_o nine_o day_n of_o september_n 1696._o shall_v prepare_v and_o make_v ready_a the_o like_a number_n of_o two_o hundred_o thousand_o new_a note_n or_o bill_n bear_v date_n the_o say_v twenty_o nine_o day_n of_o september_n 1696._o of_o the_o like_a tenor_n with_o the_o old_a one_o to_o exchange_v for_o they_o and_o so_o successive_o each_o half_a year_n follow_v for_o ever_o abate_v in_o each_o half_a year_n so_o many_o note_n or_o bill_n as_o the_o surplus_n of_o the_o say_v fund_z shall_v have_v bring_v in_o more_o than_o sufficient_a to_o pay_v the_o say_v half_a year_n interest_n at_o the_o rate_v aforesaid_a of_o the_o say_v two_o million_o or_o what_o part_n thereof_o shall_v be_v then_o unpaid_a first_o deduct_v out_o of_o such_o surplus_n all_o officer_n salary_n and_o other_o charge_n in_o order_n to_o which_o the_o say_a officer_n shall_v against_o and_o before_o the_o expiration_n of_o every_o such_o half_a year_n make_v up_o a_o exact_a account_n in_o write_v of_o the_o produce_v of_o such_o fund_z and_o the_o same_o register_n in_o a_o book_n for_o that_o purpose_n to_o be_v keep_v in_o the_o say_a office_n and_o then_o before_o the_o twenty_o five_o day_n of_o march_n and_o twenty_o nine_o day_n of_o september_n in_o every_o such_o half_a year_n give_v public_a notice_n in_o the_o gazette_n or_o some_o other_o way_n in_o print_n for_o call_v in_o the_o old_a bill_n and_o how_o many_o of_o they_o will_v be_v pay_v off_o in_o money_n and_o the_o number_n of_o new_a one_o to_o be_v give_v out_o for_o performance_n of_o which_o they_o shall_v attend_v as_o aforesaid_a six_o to_o prevent_v counterfeit_v the_o say_a note_n or_o bill_n that_o beside_o exchange_v they_o half_o yearly_o the_o same_o to_o be_v cut_v indent-wise_a out_o of_o paper_n make_v for_o that_o purpose_n wherein_o may_v be_v some_o particular_a mark_n in_o the_o make_n which_o mark_v to_o be_v change_v every_o such_o half_a year_n the_o same_o to_o be_v number_v one_o two_o three_o and_o so_o forward_o and_o the_o counterpart_v bind_v up_o in_o book_n and_o keep_v in_o the_o say_a office_n to_o be_v compare_v at_o take_v in_o and_o further_o every_o half_a year_n the_o print_a part_n of_o such_o bill_n to_o be_v of_o a_o different_a character_n from_o the_o precede_a half_a year_n and_o each_o bill_n to_o be_v sign_v by_o at_o least_o three_o of_o the_o say_a officer_n hand_n and_o stamp_v upon_o the_o paper_n with_o some_o seal_n after_o the_o method_n of_o stamp_v paper_n which_o seal_v to_o be_v likewise_o alter_v every_o such_o half_a year_n and_o notice_n give_v in_o the_o gazette_n or_o otherwise_o in_o print_n of_o the_o form_n of_o such_o seal_n and_o the_o person_n name_n sign_v the_o new_a bill_n and_o both_o the_o seal_n and_o printing_n plate_n to_o be_v break_v to_o piece_n every_o half_a year_n as_o soon_o as_o the_o number_n of_o note_n or_o bill_n that_o be_v to_o be_v give_v out_o then_o be_v prepare_v seven_o to_o make_v they_o every_o way_n as_o effectual_a in_o payment_n as_o the_o silver_n coin_n of_o the_o kingdom_n the_o possessor_n only_o to_o have_v a_o title_n to_o they_o without_o any_o endorsement_n or_o assignment_n thereon_o from_o the_o person_n give_v they_o in_o payment_n and_o all_o person_n oblige_v to_o take_v they_o in_o payment_n as_o well_o in_o all_o public_a receipt_n of_o the_o king_n revenue_n as_o in_o private_a trade_n or_o else_o be_v deprive_v the_o liberty_n of_o prosecute_n at_o law_n their_o debtor_n eight_o that_o by_o the_o twenty_o five_o day_n of_o march_n 1696._o at_o least_o twenty_o goldsmith_n of_o know_a reputation_n be_v appoint_v as_o commissioner_n for_o execute_v the_o several_a before_o mention_v article_n for_o take_v in_o all_o unmilled_a crown_n and_o half_a crown_n and_o some_o clip_v shilling_n who_o for_o accommodation_n and_o dispatch_v
bushel_n of_o wheat_n of_o winchester_n measure_n which_o be_v the_o standard_n of_o england_n after_o which_o a_o act_n of_o parliament_n be_v pass_v that_o the_o winchester_n bushel_n shall_v be_v less_o by_o one_o five_o or_o the_o old_a one_o raise_v to_o ten_o gallon_n eight_o of_o which_o shall_v be_v always_o esteem_v a_o winchester_n bushel_n and_o by_o one_o hundred_o of_o such_o winchester_n bushel_n the_o tenant_n rend_v due_o pay_v will_v not_o the_o landlord_n thereby_o have_v one_o five_o part_n less_o of_o wheat_n of_o his_o tenant_n than_o he_o use_v to_o have_v and_o consequent_o want_v a_o five_o part_n of_o bread_n for_o maintenance_n of_o his_o family_n and_o beside_o for_o what_o other_o necessary_n he_o want_v as_o wool_n of_o the_o same_o farmer_n to_o clothe_v himself_o and_o family_n with_o must_v pay_v one_o five_o part_n of_o wheat_n more_o than_o he_o use_v before_o whereby_o he_o become_v a_o double_a loser_n and_o by_o that_o mean_v a_o gentleman_n of_o one_o thousand_o pound_n per_fw-la annum_fw-la lose_v four_o hundred_o pound_n per_fw-la annum_fw-la according_a to_o the_o present_a standard_n of_o our_o money_n and_o the_o rent_n of_o england_n suppose_v they_o at_o ten_o million_o yearly_a will_v be_v reduce_v to_o six_o million_o and_o the_o landlord_n to_o live_v on_o no_o more_o necessary_n than_o will_v be_v purchase_v by_o six_o million_o of_o our_o present_a money_n whereby_o they_o will_v lose_v four_o million_o yearly_a for_o ever_o or_o eighty_o million_o of_o pound_n sterling_a by_o way_n of_o purchase_n and_o the_o tenant_n and_o tradesman_n gainer_n thereof_o from_o whence_o it_o be_v evident_a how_o much_o it_o behoove_v all_o landlord_n to_o oppose_v such_o design_a alteration_n but_o not_o only_o they_o but_o all_o person_n who_o estate_n be_v in_o money_n will_v be_v equal_o cheat_v but_o above_o all_o the_o king_n revenue_n diminish_v and_o indeed_o nothing_o but_o confusion_n be_v the_o effect_n of_o such_o breach_n of_o faith_n all_o which_o will_v be_v preserve_v by_o this_o proposal_n six_o this_o proposal_n can_v no_o way_n have_v the_o ill_a consequence_n that_o the_o call_n in_o the_o money_n and_o oblige_v the_o possessor_n to_o wait_v till_o the_o same_o be_v new_a coin_a will_n for_o hereby_o he_o be_v immediate_o supply_v with_o money_n or_o credit_v as_o good_a as_o money_n to_o go_v to_o market_n and_o therefore_o will_v prevent_v that_o stagnation_n which_o for_o want_v of_o a_o due_a circulation_n of_o the_o money_n may_v cause_v a_o convulsion_n in_o the_o state_n seven_o and_o last_o the_o government_n will_v be_v hereby_o as_o by_o all_o other_o fund_n the_o more_o establish_v for_o almost_o every_o individual_a subject_n will_v become_v interest_v in_o the_o state_n by_o have_v some_o of_o these_o bill_n in_o his_o possession_n and_o it_o be_v not_o to_o be_v doubt_v but_o that_o in_o this_o selfish_a age_n interest_n bind_v more_o than_o all_o the_o sacred_a band_n of_o oath_n the_o objection_n at_o present_a occur_v be_v first_o these_o note_n or_o bill_n be_v liable_a to_o be_v counterfeit_n burn_v or_o lose_a as_o by_o experience_n we_o have_v find_v all_o three_o happen_v to_o the_o bank_n bill_n and_o not_o only_o so_o but_o if_o the_o possessor_n be_v only_o to_o have_v the_o title_n to_o they_o there_o can_v be_v no_o relief_n against_o robbery_n to_o which_o it_o may_v be_v answer_v that_o by_o the_o method_n propose_v it_o will_v be_v almost_o impossible_a they_o shall_v be_v counterfeit_v but_o beside_o it_o may_v and_o aught_o to_o be_v make_v treason_n to_o do_v it_o and_o if_o at_o last_o such_o a_o thing_n shall_v happen_v it_o be_v but_o the_o same_o inconveniency_n that_o money_n be_v attend_v with_o though_o every_o half_a year_n will_v discover_v such_o fraud_n which_o be_v a_o advantage_n we_o have_v not_o in_o money_n as_o to_o their_o be_v burn_v or_o lose_v there_o be_v more_o to_o be_v say_v to_o obviate_v likewise_o that_o inconveniency_n than_o there_o can_v be_v for_o money_n that_o have_v no_o ear-mark_a but_o these_o be_v number_v public_a notice_n in_o the_o gazette_n may_v chance_v to_o bring_v they_o to_o the_o owner_n beside_o there_o may_v be_v a_o clause_n in_o the_o act_n that_o if_o the_o possessor_n give_v notice_n at_o the_o mint-office_n at_o the_o exchequer_n that_o he_o have_v lose_v such_o a_o number_v bill_n the_o officer_n shall_v be_v oblige_v to_o enter_v his_o name_n and_o the_o number_n of_o the_o bill_n so_o lose_v in_o their_o book_n and_o if_o it_o appear_v not_o within_o six_o month_n after_o the_o time_n of_o its_o currantry_n that_o be_v within_o eighteen_o month_n from_o the_o date_fw-la the_o person_n give_v such_o notice_n to_o have_v the_o money_n or_o a_o new_a bill_n give_v he_o upon_o give_v a_o obligation_n to_o the_o say_a officer_n to_o repay_v the_o money_n if_o ever_o after_o the_o say_a bill_n shall_v be_v demand_v of_o they_o and_o the_o same_o notice_n in_o the_o gazette_n and_o at_o the_o mint-office_n at_o the_o exchequer_n of_o such_o number_n as_o shall_v fortune_n to_o be_v steal_v may_v likewise_o chance_v to_o discover_v the_o thief_n but_o however_o no_o dispute_n ought_v to_o be_v admit_v of_o when_o they_o come_v to_o be_v pay_v or_o exchange_v at_o the_o say_a mint-office_n whether_o the_o possessor_n come_v honest_o by_o they_o or_o not_o but_o always_o after_o endeavour_v by_o examination_n to_o make_v what_o discovery_n they_o can_v ready_o pay_v or_o exchange_v that_o they_o may_v in_o every_o thing_n as_o near_o as_o possible_a be_v like_a to_o money_n and_o therefore_o will_v behoove_v all_o people_n to_o esteem_v they_o as_o such_o and_o to_o take_v the_o same_o care_n of_o they_o second_o these_o bill_n will_v be_v a_o force_n upon_o the_o subject_a and_o may_v have_v such_o ill_a effect_n as_o to_o cause_v distinct_a contract_n in_o trade_n before_o delivery_n of_o good_n as_o whether_o to_o be_v pay_v in_o silver_n or_o paper_n coin_n and_o at_o last_o may_v thereby_o become_v useless_a to_o the_o possessor_n to_o which_o it_o be_v answer_v that_o it_o must_v be_v own_v a_o please_a force_n which_o bring_v profit_n with_o it_o as_o these_o bill_n every_o day_n they_o be_v keep_v do_v and_o prevent_v the_o many_o dispute_v we_o now_o have_v about_o the_o silver_n coin_n which_o be_v of_o a_o fictitious_a value_n and_o which_o in_o all_o payment_n be_v now_o a_o force_n upon_o the_o receiver_n and_o though_o it_o be_v true_a the_o new_a coin_n will_v not_o be_v a_o fictitious_a value_n and_o therefore_o will_v be_v more_o in_o danger_n to_o be_v hoard_v than_o the_o now_o coin_n yet_o common_a experience_n have_v show_v we_o that_o at_o the_o erect_v the_o bank_n of_o england_n people_n part_v with_o new_a and_o good_a money_n for_o their_o bill_n payable_a with_o interest_n of_o two_o penny_n per_fw-la cent._n a_o day_n rather_o than_o their_o money_n shall_v lie_v dead_a and_o it_o can_v be_v doubt_v but_o these_o bill_n will_v have_v the_o same_o effect_n and_o indeed_o this_o proposal_n can_v have_v its_o due_a and_o true_a advantage_n whilst_o they_o or_o any_o other_o person_n give_v interest_n for_o money_n on_o demand_n beside_o when_o all_o the_o coin_n be_v bring_v to_o a_o equality_n or_o promise_v so_o to_o be_v in_o a_o short_a time_n as_o before_o propose_v people_n will_v free_o part_v with_o that_o which_o lie_v dead_a for_o a_o quick_a and_o grow_a stock_n of_o cash_n and_o rather_o it_o may_v be_v fear_v these_o bill_n will_v be_v hoard_v and_o as_o the_o bank_n bill_n now_o do_v cause_n covetous_a people_n and_o such_o as_o be_v regardless_o of_o their_o reputation_n to_o make_v dilatory_a payment_n three_o this_o method_n of_o make_v paper_n pass_v as_o money_n will_v be_v a_o reflection_n upon_o the_o government_n as_o though_o it_o be_v bring_v to_o extremity_n in_o not_o pay_v for_o every_o thing_n in_o silver_n coin_n to_o which_o it_o be_v answer_v that_o this_o be_v no_o more_o than_o have_v already_o be_v do_v since_o the_o war_n begin_v by_o give_v tally_n in_o payment_n but_o if_o it_o be_v object_v that_o as_o they_o be_v sell_v sometime_o for_o great_a loss_n so_o these_o bill_n may_v yet_o if_o it_o be_v consider_v that_o the_o government_n be_v then_o in_o its_o infancy_n and_o attend_v with_o ill_a success_n the_o french_a be_v master_n both_o of_o the_o ocean_n and_o the_o strait_n which_o be_v now_o quite_o the_o contrary_a and_o that_o general_o such_o tally_n be_v secure_v out_o of_o fund_n that_o seem_v doubtful_a and_o not_o as_o this_o now_o propose_v make_v certain_a and_o perpetual_a that_o objection_n must_v vanish_v and_o beside_o have_v those_o tally_n be_v divide_v into_o as_o small_a parcel_n and_o make_v as_o
easy_a without_o assignment_n to_o pass_v in_o payment_n as_o the_o bill_n now_o propose_v it_o be_v not_o to_o be_v doubt_v but_o a_o great_a deal_n of_o interest_n and_o procuration_n money_n may_v have_v be_v save_v to_o the_o nation_n though_o it_o must_v be_v consess_v such_o method_n ought_v not_o to_o be_v practise_v for_o too_o great_a sum_n or_o more_o than_o it_o be_v believe_v the_o silver_n cash_n of_o the_o nation_n will_v give_v life_n to_o which_o common_a experience_n show_v we_o by_o the_o several_a bank_n may_v be_v double_a what_o the_o cash_n be_v so_o that_o if_o the_o money_n call_v in_o may_v produce_v six_o million_o in_o paper_n credit_n and_o that_o new_a coin_v three_o million_o of_o silver_n cash_n there_o will_v be_v sufficient_a to_o circulate_v such_o paper_n credit_n however_o the_o call_v in_o only_o first_o the_o crown_n and_o half_a crown_n may_v serve_v as_o a_o experiment_n before_o the_o shilling_n and_o sixpence_n be_v proceed_v on_o and_o if_o 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mint-office_n at_o the_o exchequer_n will_v be_v no_o more_o than_o a_o bank_n establish_v by_o act_n of_o parliament_n without_o the_o inconvenience_n attend_v a_o bank_n which_o among_o many_o other_o thing_n as_o experience_n have_v show_v we_o be_v the_o monopolise_v the_o coin_n of_o the_o kingdom_n four_o the_o call_v in_o the_o unmilled_a crown_n and_o half_a crown_n and_o coin_v they_o into_o money_n after_o the_o rate_n of_o five_o shilling_n and_o two_o penny_n the_o ounce_n which_o be_v the_o now_o standard_n will_v occasion_v it_o all_o to_o be_v export_v now_o silver_n bear_v so_o great_a a_o price_n to_o which_o its_o reply_v that_o the_o coin_v they_o into_o money_n as_o be_v project_v by_o some_o after_o the_o rate_n of_o six_o shilling_n and_o five_o penny_n halfpenny_n the_o ounce_n will_v not_o at_o all_o hinder_v the_o same_o exportation_n for_o as_o already_o have_v be_v prove_v the_o exchange_n for_o all_o part_n will_v alter_v according_a to_o the_o debase_v 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the_o exchange_n to_o foreign_a part_n may_v again_o rise_v to_o our_o advantage_n and_o thereby_o and_o keep_v the_o money_n among_o we_o help_v we_o to_o struggle_v on_o long_o with_o the_o war_n than_o we_o can_v be_v suppose_v to_o do_v if_o the_o money_n be_v new_o coin_v but_o more_o especial_o shall_v we_o be_v enable_v if_o some_o stop_v be_v put_v to_o the_o unreasonable_a rise_n of_o gold_n by_o limit_v guinea_n not_o to_o exceed_v such_o a_o price_n which_o occasion_n we_o to_o be_v more_o indebt_v to_o foreigner_n as_o it_o be_v a_o commodity_n buy_v too_o dear_a and_o too_o much_o of_o it_o than_o otherwise_o we_o shall_v have_v be_v by_o the_o war._n but_o since_o the_o general_a tendency_n of_o the_o people_n be_v for_o new_a coin_v our_o money_n it_o must_v be_v still_o affirm_v that_o the_o make_v our_o standard_n light_a or_o heavy_a will_v not_o hinder_v the_o exportation_n and_o that_o it_o will_v be_v find_v a_o mistake_a notion_n to_o think_v silver_n will_v bear_v the_o same_o price_n it_o now_o do_v when_o the_o money_n be_v new_o coin_v for_o if_o it_o be_v coin_v at_o the_o rate_n of_o five_o shilling_n and_o two_o penny_n the_o ounce_n silver_n that_o be_v english_a silver_n uncoined_a will_v bear_v but_o that_o price_n be_v prohibit_v to_o be_v export_v neither_o will_v foreign_a silver_n can_v we_o once_o be_v convince_v that_o neither_o english_a or_o foreign_a bullion_n ought_v to_o be_v export_v but_o only_o our_o money_n which_o will_v soon_o make_v bullion_n less_o valuable_a than_o our_o money_n and_o always_o keep_v our_o mint_n which_o now_o stand_v still_o at_o work_n and_o our_o money_n as_o handsome_a and_o true_a make_v become_v more_o famous_a through_o the_o world_n than_o piece_n of_o eight_o while_o we_o have_v the_o advantage_n of_o manufacture_v of_o it_o and_o therefore_o it_o be_v propose_v that_o for_o the_o future_a all_o bullion_n of_o gold_n or_o silver_n whether_o in_o piece_n of_o eight_o or_o other_o foreign_a coin_n or_o bar_n when_o once_o import_v shall_v be_v forfeit_v upon_o exportation_n and_o when_o bring_v to_o the_o mint_n pay_v as_o former_o for_o the_o coinage_n which_o will_v reduce_v silver_n to_o five_o shilling_n the_o ounce_n and_o since_o such_o prohibition_n of_o exportation_n may_v hinder_v the_o importation_n it_o shall_v be_v lawful_a to_o export_v the_o coin_n of_o the_o nation_n pay_v three_o pound_n per_fw-la cent._n custom_n which_o shall_v be_v collect_v upon_o any_o sum_n amount_v to_o or_o exceed_v twenty_o shilling_n or_o else_o forfeit_v which_o custom_n be_v so_o small_a will_v easy_o be_v pay_v without_o fraud_n and_o if_o all_o shall_v be_v export_v in_o coin_n that_o shall_v be_v import_v in_o bullion_n and_o coin_v at_o the_o mint_n which_o it_o shall_v not_o exceed_v in_o any_o one_o year_n yet_o the_o nation_n will_v be_v a_o gainer_n about_o six_o per_fw-la cent._n by_o all_o such_o bullion_n and_o beside_o have_v the_o use_n of_o a_o great_a deal_n of_o money_n which_o now_o alwaps_o lie_v dead_a in_o such_o bullion_n in_o merchant_n hand_n as_o merchandise_n wait_v for_o a_o market_n whereas_o if_o they_o may_v export_v the_o coin_n at_o any_o time_n when_o such_o market_n present_v it_o can_v be_v suppose_v they_o will_v lose_v the_o use_n of_o any_o such_o bullion_n but_o be_v coin_v employ_v it_o in_o trade_n but_o it_o may_v be_v then_o say_v how_o if_o all_o piece_n of_o eight_o be_v coin_v can_v the_o turkey_n and_o east-india_n company_n be_v supply_v with_o they_o for_o their_o trade_n which_o be_v easy_o answer_v by_o their_o have_v as_o above_o liberty_n to_o export_v our_o money_n and_o it_o can_v be_v doubt_v but_o our_o money_n will_v be_v soon_o in_o those_o part_n in_o great_a estimation_n than_o piece_n of_o eight_o and_o beat_v they_o out_o of_o repute_n by_o which_o the_o benesit_fw-la of_o manufacture_v the_o money_n for_o these_o great_a trade_n will_v accrue_v to_o we_o five_o and_o last_o if_o all_o 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the_o benefit_n of_o his_o majesty_n government_n and_o common_a good_a of_o their_o fellow-subject_n finis_fw-la