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england_n call_v king_n lord_n 8,089 5 3.7284 3 true
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ID Title Author Corrected Date of Publication (TCP Date of Publication) STC Words Pages
A30882 A discourse concerning coining the new money lighter in answer to Mr. Lock's Considerations about raising the value of money / by Nicholas Barbon, Esq. Barbon, Nicholas, d. 1698. 1696 (1696) Wing B706; ESTC R12375 47,571 114

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argument_n sake_n suppose_v there_o be_v a_o balance_n of_o trade_n and_o that_o it_o be_v or_o may_v be_v cast_v up_o every_o year_n with_o every_o nation_n yet_o it_o will_v not_o follow_v that_o the_o balance_n of_o the_o account_n must_v be_v pay_v in_o money_n for_o if_o the_o balance_n be_v pay_v by_o value_n it_o be_v no_o matter_n by_o what_o sort_n of_o good_n that_o value_n be_v pay_v for_o one_o sort_n of_o ware_n be_v as_o good_a as_o another_o if_o the_o value_v be_v equal_a a_o hundred_o pound_n worth_a of_o lead_n or_o iron_n be_v as_o good_a as_o a_o hundred_o pound_n worth_a of_o silver_n or_o gold_n the_o general_a way_n of_o balance_v all_o account_n in_o foreign_a trade_n be_v by_o bill_n of_o exchange_n for_o foreign_a exchange_n be_v the_o pay_v a_o sum_n of_o money_n in_o one_o country_n to_o be_v repay_v the_o same_o sum_n in_o the_o foreign_a coin_n of_o another_o country_n with_o allowance_n of_o interest_n for_o the_o time_n of_o pay_v it_o according_a to_o the_o agreement_n which_o be_v call_v with_o single_a or_o double_a usance_n in_o the_o infancy_n of_o foreign_a trade_n in_o england_n all_o foreign_a exchange_n be_v make_v in_o a_o office_n set_v up_o on_o purpose_n to_o return_v bill_n of_o exchange_n which_o office_n at_o first_o be_v settle_v by_o act_n of_o parliament_n and_o afterward_o the_o king_n grant_v patent_n for_o the_o keep_n of_o it_o the_o last_o patent_n be_v grant_v to_o the_o lord_n burleigh_n than_o lord_n treasurer_n in_o the_o reign_n of_o queen_n elizabeth_n those_o that_o keep_v the_o office_n do_v general_o belong_v to_o the_o mint_n and_o be_v well_o acquaint_v with_o bullion_n and_o foreign_a coin_n but_o with_o no_o other_o commodity_n in_o those_o day_n be_v the_o beginning_n of_o foreign_a trade_n all_o sort_n of_o foreign_a coin_n be_v in_o all_o trade_n country_n currant_n in_o the_o unite_a province_n foreign_a coin_n be_v currant_n till_o the_o year_n 1622_o at_o which_o time_n a_o placate_v be_v 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their_o money_n beside_o some_o nation_n have_v little_a or_o no_o bullion_n in_o their_o country_n as_o denmark_n sueden_n and_o the_o northern_a part_n of_o the_o world_n and_o yet_o the_o merchant_n account_n be_v as_o well_o pay_v and_o balance_v as_o in_o any_o other_o country_n where_o there_o be_v more_o plenty_n of_o gold_n and_o silver_n for_o as_o the_o course_n of_o foreign_a trade_n now_o be_v there_o be_v no_o occasion_n to_o send_v over_o money_n to_o buy_v good_n or_o balance_v the_o account_n for_o the_o money_n be_v pay_v at_o the_o time_n when_o the_o bill_n be_v first_o draw_v so_o that_o there_o be_v no_o occasion_n to_o send_v money_n over_o where_o the_o bill_n be_v to_o be_v accept_v and_o repay_v and_o the_o buy_n of_o good_n or_o balance_v of_o the_o account_n be_v do_v by_o the_o foreign_a money_n of_o the_o country_n which_o be_v receive_v from_o the_o person_n that_o accept_v the_o bill_n money_n be_v never_o carry_v out_o of_o any_o country_n where_o it_o be_v coin_v except_o it_o be_v to_o those_o country_n where_o the_o bullion_n bear_v a_o high_a price_n than_o what_o the_o money_n be_v currant_n at_o or_o when_o the_o exchange_n run_v so_o high_a to_o any_o country_n as_o it_o will_v be_v more_o profit_n to_o the_o merchant_n to_o melt_v down_o the_o money_n and_o send_v it_o over_o in_o bullion_n than_o by_o bill_n of_o exchange_n and_o in_o both_o these_o case_n it_o may_v often_o fall_v out_o that_o the_o money_n may_v be_v send_v over_o to_o a_o country_n and_o yet_o no_o debt_n contract_v in_o that_o country_n and_o therefore_o the_o balance_a the_o account_n can_v be_v the_o reason_n of_o draw_v the_o money_n out_o of_o a_o nation_n for_o though_o spain_n be_v not_o indebt_v to_o any_o nation_n yet_o the_o gold_n and_o silver_n will_v be_v bring_v away_o for_o be_v more_o plentiful_a there_o than_o in_o any_o part_n of_o europe_n because_o of_o the_o west-indies_n that_o belong_v to_o they_o be_v consequent_o there_o of_o a_o 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a_o hundred_o pound_n may_v be_v worth_a five_o or_o ten_o per_fw-la cent_n to_o be_v return_v and_o a_o little_a while_n after_o to_o the_o same_o place_n may_v be_v worth_a as_o much_o to_o the_o contrary_n and_o if_o it_o happen_v when_o the_o exchange_n be_v high_a that_o there_o be_v as_o great_a a_o conveniency_n in_o send_v to_o the_o same_o place_n the_o bullion_n as_o there_o be_v to_o get_v a_o bill_n of_o exchange_n the_o merchant_n to_o save_v five_o or_o ten_o per_fw-la cent_n will_v send_v away_o the_o money_n and_o this_o may_v fall_v out_o when_o there_o be_v no_o debt_n owe_v at_o the_o place_n as_o to_o instance_n if_o a_o merchant_n be_v to_o buy_v good_n at_o francfort_n or_o amsterdam_n at_o the_o
the_o value_n of_o their_o coin_n there_o have_v be_v very_o little_a silver_n money_n coin_v and_o much_o less_o to_o be_v find_v now_o in_o england_n for_o in_o king_n charles_n the_o first_o be_v time_n by_o the_o civil_a war_n of_o england_n the_o plate_n be_v bring_v to_o the_o mint_n to_o be_v coin_v which_o be_v the_o cause_n of_o the_o great_a sum_n of_o silver_n money_n coin_v in_o his_o reign_n the_o call_v in_o the_o parliament-money_n in_o king_n charles_n the_o second_v time_n and_o new_a coin_v of_o it_o the_o two_o or_o three_o hundred_o thousand_o pound_n that_o be_v yearly_o send_v into_o england_n from_o france_n upon_o some_o particular_a occasion_n during_o his_o reign_n with_o the_o money_n that_o dunkirk_n be_v sell_v for_o and_o the_o act_n of_o parliament_n for_o give_v away_o the_o charge_n of_o coinage_n to_o encourage_v the_o merchant_n to_o bring_v bullion_n to_o the_o mint_n be_v almost_o three_o and_o a_o half_a per_fw-mi cent_n be_v the_o occasion_n of_o the_o silver_n money_n coin_v in_o his_o reign_n and_o if_o the_o two_o sum_n coin_v in_o these_o two_o king_n reign_v which_o make_v about_o twelve_o million_o with_o the_o money_n that_o be_v coin_v in_o queen_n elizabeth_n reign_n and_o a_o million_o that_o be_v coin_v in_o the_o reign_n of_o king_n james_n the_o first_o before_o the_o foreign_a prince_n raise_v the_o value_n of_o their_o coin_n be_v put_v together_o they_o will_v make_v near_o eighteen_o million_o so_o that_o be_v it_o not_o for_o these_o accidental_a cause_n there_o have_v not_o be_v coin_v in_o the_o mint_n of_o england_n two_o million_o of_o silver_n money_n since_o the_o foreign_a prince_n raise_v the_o value_n of_o their_o coin_n and_o have_v it_o not_o be_v for_o the_o wear_n of_o some_o of_o the_o old_a money_n light_a by_o often_o tell_v it_o over_o and_o clip_v of_o the_o rest_n by_o which_o they_o be_v make_v unprofitable_a to_o melt_v down_o by_o this_o time_n in_o all_o probability_n there_o have_v scarce_o be_v a_o silver_n piece_n of_o money_n to_o be_v see_v in_o england_n and_o that_o the_o raise_v the_o coin_n in_o foreign_a part_n and_o the_o not_o raise_v the_o silver_n coin_n in_o england_n be_v the_o cause_n of_o melt_v it_o down_o and_o transport_v it_o will_v plain_o appear_v from_o the_o plenty_n of_o the_o gold_n here_o compare_v with_o the_o silver_n for_o since_o the_o forty_o three_o of_o queen_n elizabeth_n be_v the_o last_o time_n that_o the_o silver_n money_n be_v raise_v here_o in_o england_n the_o gold_n have_v be_v twice_o great_o raise_v by_o which_o mean_n there_o be_v here_o double_a if_o not_o treble_v the_o quantity_n of_o gold_n for_o silver_n whereas_o in_o all_o other_o kingdom_n and_o state_n in_o europe_n there_o be_v ten_o time_n more_o silver_n money_n than_o gold_n for_o in_o the_o forty_o three_o year_n of_o queen_n elizabeth_n according_a to_o mr._n lownds_n account_n from_o the_o record_n of_o the_o mint_n which_o all_o man_n agree_v be_v very_o exact_a a_o pound_n weight_n troy_n of_o gold_n of_o the_o standard_n of_o twenty_o two_o carat_n fine_a and_o two_o carat_n allay_v be_v coin_v into_o thirty_o three_o sovereign_n and_o a_o half_a at_o twenty_o shilling_n a_o piece_n make_v thirty_o three_o pound_n ten_o shilling_n in_o the_o reign_n of_o king_n james_n i._o the_o gold_n be_v raise_v and_o the_o same_o pound_n weight_n and_o standard_n of_o gold_n be_v coin_v into_o as_o many_o unit_v double-corowns_a and_o other_o piece_n of_o gold_n as_o make_v up_o forty_o pound_n eighteen_o shilling_n and_o four_o penny_n and_o in_o king_n charles_n the_o second_v time_n the_o gold_n be_v again_o raise_v and_o the_o same_o standard_n and_o weight_n be_v coin_v into_o forty_o four_o guineas_fw-la and_o a_o half_a at_o twenty_o shilling_n a_o piece_n so_o that_o from_o thirty_o three_o pound_n ten_o shilling_n in_o queen_n elizabeth_n time_n to_o forty_o four_o pound_n ten_o shilling_n in_o king_n charles_n reign_n the_o gold_n be_v raise_v near_o three_o and_o thirty_o per_fw-la cent_n since_o the_o silver_n money_n have_v be_v raise_v which_o be_v the_o reason_n of_o the_o great_a plenty_n of_o gold_n and_o scarcity_n of_o silver_n what_o be_v the_o reason_n that_o these_o two_o prince_n raise_v their_o gold_n and_o not_o their_o silver_n be_v not_o to_o be_v imagine_v unless_o it_o be_v from_o some_o powerful_a argument_n offer_v by_o the_o guiney_n company_n who_o interest_n it_o be_v to_o have_v gold_n raise_v which_o do_v not_o appear_v and_o that_o this_o raise_v the_o gold_n be_v the_o cause_n that_o it_o be_v more_o plentiful_a here_o in_o england_n than_o silver_n will_v appear_v yet_o more_o plain_a if_o the_o record_n of_o the_o mint_n be_v examine_v since_o king_n charles_n the_o second_v restauration_n for_o since_o that_o time_n there_o have_v be_v coin_v in_o the_o mint_n of_o england_n 7263836_o l._n 1_o s._n 5_o d._n and_o in_o silver_n but_o 4319585_o l._n 9_o s._n 5_o d._n which_o do_v not_o want_n much_o of_o double_a the_o quantity_n of_o gold_n money_n that_o have_v be_v coin_v more_o than_o silver_n and_o when_o the_o guineas_n have_v a_o extraordinary_a rise_v here_o in_o england_n as_o to_o be_v currant_n at_o eight_o and_o twenty_o and_o thirty_o shilling_n a_o piece_n there_o be_v above_o seven_o hundred_o and_o twenty_o thousand_o pound_n in_o gold_n coin_v in_o little_a more_o than_o nine_o month_n time_n which_o be_v more_o than_o be_v coin_v in_o six_o or_o eight_o year_n before_o which_o show_v plain_o that_o the_o raise_v the_o value_n of_o the_o gold_n money_n here_o in_o england_n be_v the_o cause_n that_o so_o much_o be_v import_v and_o coin_v here_o and_o on_o the_o contrary_a the_o not_o raise_v of_o the_o silver_n money_n in_o proportion_n as_o the_o foreign_a mint_n have_v do_v be_v the_o cause_n of_o its_o be_v constant_o melt_v down_o and_o carry_v away_o notwithstanding_o the_o many_o law_n to_o prohibit_v it_o for_o there_o be_v severe_a law_n in_o all_o kingdom_n and_o state_n that_o prohibit_v the_o counterfeit_n clip_v melt_a and_o export_v the_o money_n in_o all_o country_n it_o be_v death_n to_o counterfeit_v and_o clip_v the_o money_n in_o france_n england_n and_o several_a other_o country_n it_o be_v a_o high_a crime_n to_o melt_v it_o down_o and_o forfeiture_n of_o the_o money_n to_o export_v it_o and_o in_o spain_n it_o be_v death_n to_o transport_v it_o and_o yet_o when_o ever_o it_o have_v be_v profitable_a it_o have_v be_v always_o melt_v down_o and_o carry_v away_o so_o that_o by_o experience_n prince_n and_o state_n have_v find_v that_o there_o be_v no_o other_o way_n to_o preserve_v it_o in_o the_o country_n but_o by_o raise_v the_o value_n of_o their_o money_n so_o much_o above_o the_o price_n of_o bullion_n that_o the_o merchant_n may_v get_v more_o by_o carry_v away_o the_o bullion_n than_o the_o money_n the_o cause_n of_o raise_v the_o money_n here_o in_o europe_n will_v always_o continue_v as_o 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a_o mass_n or_o tank_n which_o be_v bury_v with_o they_o so_o that_o great_a part_n of_o what_o be_v dug_n out_o of_o the_o west_n be_v bury_v in_o the_o east_n and_o although_o there_o have_v be_v great_a quantity_n of_o gold_n and_o silver_n bring_v into_o europe_n since_o the_o discovery_n of_o the_o west-indies_n yet_o the_o price_n of_o they_o have_v always_o rise_v and_o will_v always_o continue_v so_o as_o long_o as_o the_o people_n grow_v rich_a by_o trade_n which_o will_v make_v the_o occasion_n for_o they_o great_a than_o the_o quantity_n which_o be_v the_o rule_n by_o which_o all_o thing_n be_v make_v dear_a this_o continual_a rise_n of_o gold_n and_o silver_n will_v be_v no_o prejudice_n to_o the_o prince_n and_o state_n if_o they_o do_v but_o observe_v to_o