like_a to_o have_v in_o the_o kingdom_n in_o lieu_n of_o about_o eight_o million_o of_o good_a and_o bad_a silver_n together_o which_o be_v suppose_v to_o be_v now_o therein_o now_o he_o that_o can_v inform_v i_o how_o we_o may_v be_v capable_a of_o pay_v every_o year_n between_o five_o or_o six_o million_o of_o pound_n for_o defray_v the_o charge_n of_o the_o war_n a_o great_a part_n of_o which_o sum_n must_v also_o be_v transport_v for_o the_o use_n of_o the_o land-force_n and_o how_o at_o the_o same_o time_n we_o may_v pay_v our_o rent_n and_o manage_v our_o domestic_a and_o foreign_a trade_n on_o account_n of_o which_o latter_a also_o there_o must_v be_v great_a sum_n yearly_o transport_v to_o make_v good_a the_o balance_n of_o what_o the_o good_n we_o export_v fall_v short_a of_o those_o we_o import_n i_o say_v he_o that_o can_v propose_v the_o mean_n of_o perform_v all_o this_o out_o of_o 3600000_o l._n of_o silver_n and_o our_o small_a quantity_n of_o gold_n coin_n which_o by_o the_o way_n will_v be_v very_o inconsiderable_a when_o it_o be_v fall_v to_o the_o rate_v these_o gentleman_n will_v have_v silver_n fix_v at_o erit_fw-la mihi_fw-la magnus_fw-la apollo_n i_o will_v erect_v altar_n to_o his_o praise_n and_o sacrifice_n to_o his_o memory_n but_o on_o the_o other_o hand_n if_o silver_n be_v advance_v a_o four_o part_n viz._n from_o 5_o s._n 2_o d._n unto_o 6_o s._n 5_o d._n ½_o per_fw-la ounce_n as_o it_o ought_v to_o be_v in_o proportion_n to_o the_o present_a scarcity_n thereof_o of_o which_o more_o in_o the_o sequel_n of_o this_o discourse_n than_o the_o same_o quantity_n of_o silver_n will_v furnish_v we_o with_o a_o four_o part_v more_o money_n than_o it_o will_v if_o it_o be_v coin_v at_o the_o rate_n of_o the_o present_a establishment_n so_o that_o instead_o of_o but_o 3600000_o l._n we_o shall_v by_o this_o propose_a advancement_n of_o silver_n have_v 4500000_o l._n in_o the_o nation_n which_o be_v nine_o hundred_o thousand_o pound_n more_o and_o be_v no_o inconsiderable_a addition_n to_o our_o coin_n at_o such_o a_o juncture_n as_o this_o and_o beside_o this_o augmentation_n of_o our_o silver_n coin_n the_o advancement_n of_o our_o silver_n will_v raise_v our_o gold_n proportional_o full_a a_o four_o part_n so_o that_o suppose_v there_o may_v be_v about_o two_o million_o of_o pound_n sterling_a in_o all_o sort_n of_o gold_n coin_n in_o the_o nation_n which_o if_o silver_n be_v raise_v to_o the_o propose_a value_n will_v pass_v for_o a_o full_a four_o part_n or_o 500000_o l._n more_o than_o they_o otherwise_o will_v which_o advance_v of_o the_o gold_n add_v to_o that_o of_o the_o silver_n demonstrate_v there_o will_v be_v 1400000_o l._n more_o in_o tale_n in_o the_o kingdom_n by_o the_o fix_v a_o high_a rate_n on_o silver_n than_o there_o will_v be_v by_o set_v a_o low_a valuation_n thereon_o but_o before_o i_o can_v pass_v to_o the_o next_o reason_n to_o prove_v that_o such_o a_o excessive_a and_o fatal_a want_n of_o money_n will_v be_v a_o consequence_n of_o reduce_v silver_n to_o a_o low_a value_n i_o must_v obviate_v one_o grand_a objection_n which_o i_o foresee_v will_v be_v urge_v against_o what_o i_o have_v already_o advance_v and_o which_o be_v this_o object_n that_o though_o it_o be_v grant_v that_o the_o same_o quantity_n of_o silver_n or_o gold_n will_v make_v more_o money_n in_o tale_n by_o advance_v the_o value_n of_o the_o bullion_n than_o it_o will_v if_o debase_v to_o a_o low_a value_n yet_o though_o the_o money_n coin_v at_o such_o a_o low_a rate_n will_v not_o go_v so_o far_o in_o tale_n yet_o it_o will_v purchase_v as_o much_o good_n as_o if_o it_o do_v the_o real_a and_o intrinsic_a not_o the_o nominal_a and_o imaginary_a value_n be_v that_o which_o be_v regard_v by_o those_o who_o sell_v their_o commodity_n to_o which_o i_o answer_v that_o though_o it_o be_v in_o some_o measure_n true_a that_o the_o price_n of_o good_n bear_v some_o proportion_n to_o the_o goodness_n or_o badness_n of_o the_o coin_n wherewith_o they_o be_v purchase_v yet_o be_v not_o this_o proportion_n so_o exact_a as_o full_o to_o balance_v they_o for_o i_o dare_v undertake_v to_o purchase_v more_o good_n with_o a_o coin_n in_o quantity_n of_o silver_n coin_v into_o money_n set_v at_o a_o pretty_a high_a rate_n than_o with_o the_o same_o weight_n of_o silver_n coin_v into_o money_n and_o fix_v at_o a_o low_a rate_n for_o though_o indeed_o the_o real_a and_o intrinsic_a value_n be_v principal_o regard_v yet_o not_o so_o as_o total_o to_o exclude_v all_o consideration_n of_o the_o extrinsic_a value_n and_o denomination_n that_o be_v put_v upon_o it_o to_o which_o also_o all_o person_n especial_o the_o subject_n of_o the_o prince_n who_o money_n it_o be_v bear_v some_o respect_n unto_o and_o will_v accept_v it_o in_o payment_n for_o something_o more_o than_o the_o bare_a intrinsic_a value_n as_o will_v be_v further_a evident_a if_o we_o consider_v that_o though_o i_o think_v it_o be_v grant_v that_o our_o coin_n be_v if_o take_v altogether_o full_o 50_o per_fw-la cent._n or_o one_o half_n less_o worth_a at_o this_o time_n than_o the_o first_o intrinsic_a value_n and_o therefore_o that_o according_a to_o the_o rule_n of_o good_n rise_v or_o fall_v full_o so_o much_o as_o to_o balance_v the_o several_a degree_n of_o the_o goodness_n of_o money_n all_o our_o inland_n and_o foreign_a commodity_n shall_v have_v advance_v full_a one_o half_a above_o their_o former_a price_n and_o the_o exchange_n for_o our_o money_n have_v fall_v one_o half_a from_o its_o former_a rate_n neither_o of_o which_o we_o find_v to_o have_v happen_v not_o even_o when_o our_o money_n be_v reduce_v to_o its_o worst_a estate_n and_o ever_o it_o be_v certain_a whether_o it_o will_v be_v reform_v or_o not_o for_o if_o we_o examine_v the_o price-current_n of_o all_o commodity_n it_o will_v be_v find_v they_o be_v not_o advance_v near_o 50_o per_fw-la cent._n one_o with_o another_o and_o so_o much_o as_o they_o be_v rise_v be_v not_o only_o on_o account_n of_o the_o badness_n of_o our_o coin_n but_o be_v in_o great_a measure_n occasion_v by_o the_o extraordinary_a demand_n there_o be_v for_o many_o of_o they_o both_o here_o and_o beyond-sea_n and_o by_o the_o great_a difficulty_n and_o hazard_n of_o import_v they_o during_o the_o war._n and_o then_o as_o to_o the_o course_n of_o exchange_n that_o also_o never_o fall_v so_o much_o from_o its_o former_a rate_n as_o our_o money_n be_v from_o its_o former_a intrinsic_a value_n for_o i_o think_v when_o our_o coin_n be_v in_o its_o perfection_n of_o weight_n and_o purity_n the_o course_n of_o exchange_n at_o rotterdam_n amsterdam_n etc._n etc._n seldom_o exceed_v 37_o dutch_a shilling_n for_o a_o pound_n sterling_a and_o when_o our_o coin_n be_v debase_v to_o its_o worst_a estate_n the_o exchange_n at_o the_o same_o place_n be_v seldom_o low_a than_o 26_o or_o 27_o of_o the_o same_o shilling_n for_o a_o pound_n sterling_a which_o be_v not_o above_o 30_o per_fw-la cent._n difference_n from_o what_o it_o be_v when_o our_o coin_n be_v in_o its_o best_a condition_n though_o as_o i_o say_v before_o our_o money_n be_v become_v general_o 50_o per_n cent._n worse_o than_o its_o first_o intrinsic_a value_n so_o that_o i_o think_v it_o be_v evident_a that_o neither_o do_v good_n advance_v nor_o the_o exchange_n sink_v so_o as_o full_o to_o balance_v the_o baseness_n and_o lightness_n of_o our_o coin_n whence_o it_o follow_v that_o the_o same_o weight_n of_o gold_n and_o silver_n value_v at_o a_o high_a rate_n will_v go_v further_o in_o purchase_v commodity_n as_o well_o as_o in_o tale_n than_o the_o same_o weight_n if_o a_o low_a value_n be_v fix_v since_o our_o clip_v and_o counterfeit_n money_n buy_v more_o commodity_n of_o any_o sort_n in_o proportion_n to_o its_o real_a and_o intrinsic_a value_n than_o our_o money_n when_o in_o its_o best_a estate_n ever_o do_v in_o proportion_n to_o the_o real_a and_o intrinsic_a value_n thereof_o at_o that_o time_n and_o therefore_o our_o quantity_n of_o silver_n value_v at_o 4500000_o pound_n will_v go_v something_o far_o in_o the_o purchase_n of_o even_o foreign_a commodity_n as_o well_o as_o in_o tale_n than_o the_o same_o quantity_n value_v at_o but_o 3600000_o pound_n will_v do_v which_o be_v the_o point_n i_o design_v to_o prove_v and_o if_o this_o hold_n in_o some_o measure_n even_o as_o to_o our_o foreign_a traffic_n it_o be_v much_o more_o certain_a that_o with_o relation_n to_o our_o inland_n trade_n the_o advancement_n of_o the_o price_n of_o money_n will_v not_o only_o make_v it_o go_v further_o in_o tale_n but_o also_o in_o purchase_n and_o furnish_v we_o with_o a_o large_a stock_n to_o traffic_v with_o among_o ourselves_o the_o extrinsic_a value_n
a_o further_a attempt_n towards_o the_o reformation_n of_o the_o coin_n with_o expedient_n for_o prevent_v the_o stop_n of_o commerce_n during_o the_o re-coinage_n and_o supply_v the_o mint_n with_o a_o sufficient_a quantity_n of_o bullion_n humble_o offer_v to_o the_o consideration_n of_o the_o king_n and_o parliament_n by_o r._n ford._n london_n print_v for_o thomas_n cockerill_n sen_n '_o &_o jun_n '_o at_o the_o three_o leg_n in_o the_o poultry_n 1696._o a_o further_a attempt_n towards_o the_o reformation_n of_o the_o coin_n etc._n etc._n introduction_n though_o i_o may_v seem_v to_o incur_v the_o censure_n of_o vanity_n and_o ostentation_n by_o pretend_v to_o advance_v any_o thing_n new_a on_o a_o theme_n that_o have_v already_o employ_v so_o many_o able_a pen_n yet_o on_o a_o impartial_a perusal_n of_o all_o that_o be_v extant_a on_o this_o subject_a i_o doubt_v not_o but_o there_o will_v be_v find_v such_o ample_a scope_n for_o so_o many_o considerable_a alteration_n and_o addition_n as_o will_v render_v this_o further_o attempt_v not_o only_o excusable_a but_o necessary_a great_a part_n of_o what_o have_v be_v hitherto_o do_v of_o this_o nature_n not_o have_v be_v perform_v with_o that_o candour_n and_o impartiality_n nor_o with_o all_o that_o accuracy_n and_o exactness_n as_o be_v to_o be_v wish_v in_o a_o affair_n of_o such_o grand_a importance_n and_o difficulty_n and_o how_o deficient_a soever_o i_o may_v be_v as_o to_o the_o latter_a of_o these_o qualification_n yet_o i_o dare_v assure_v my_o reader_n they_o shall_v not_o have_v any_o just_a cause_n of_o complaint_n of_o my_o failure_n in_o the_o former_a and_o more_o essential_a point_n of_o a_o unbiased_a integrity_n the_o consciousness_n of_o which_o sincerity_n of_o intention_n flatter_v i_o with_o some_o hope_n of_o these_o endeavour_n meet_v with_o a_o favourable_a reception_n wherein_o if_o i_o shall_v be_v deceive_v yet_o shall_v i_o be_v sensible_a of_o no_o other_o displeasure_n thereat_o than_o any_o lover_n of_o his_o country_n may_v be_v suppose_v to_o have_v for_o the_o miscarriage_n of_o a_o design_n he_o conceive_v may_v conduce_v to_o the_o promotion_n of_o the_o public_a good_n i_o shall_v not_o waste_v any_o time_n in_o a_o unprofitable_a inquiry_n into_o the_o several_a mean_n and_o degree_n whereby_o our_o coin_n have_v be_v reduce_v to_o its_o present_a ill_a condition_n but_o forthwith_o apply_v myself_o to_o the_o search_n of_o the_o proper_a method_n of_o restore_a it_o unto_o a_o good_a one_o the_o only_a effectual_a expedient_a for_o which_o purpose_n be_v agree_v on_o all_o hand_n to_o be_v the_o recoining_a of_o all_o the_o old_a clip_v and_o counterfeit_n coin_n into_o good_a new_a and_o milled_a money_n so_o that_o there_o be_v a_o universal_a consent_n as_o to_o the_o matter_n itself_o that_o it_o be_v necessary_a to_o be_v do_v but_o as_o to_o the_o manner_n of_o perform_v it_o there_o be_v almost_o as_o many_o different_a persuasion_n as_o person_n out_o of_o which_o variety_n of_o method_n to_o select_v those_o which_o seem_v most_o rational_a and_o practicable_a be_v the_o design_n and_o scope_n of_o this_o discourse_n which_o shall_v consist_v of_o a_o inquiry_n into_o the_o follow_a head_n which_o will_v comprehend_v all_o that_o be_v necessary_a to_o be_v say_v on_o this_o subject_n viz._n first_o whether_o it_o be_v most_o for_o the_o interest_n of_o the_o nation_n to_o reduce_v the_o price_n or_o value_n of_o a_o ounce_n of_o silver_n unto_o sixty_o two_o penny_n or_o to_o advance_v it_o proportionable_a to_o the_o present_a scarcity_n and_o want_n thereof_o second_o by_o who_o shall_v the_o loss_n that_o will_v ensue_v on_o the_o recoining_a the_o clip_v and_o counterfeit_n money_n be_v sustain_v three_o by_o what_o mean_n may_v the_o mint_n be_v supply_v with_o a_o sufficient_a quantity_n of_o silver_n bullion_n to_o make_v near_o as_o much_o good_a money_n in_o tale_n as_o there_o be_v at_o this_o time_n of_o good_a and_o bad_a together_o four_o what_o method_n be_v proper_a to_o be_v insist_v on_o to_o prevent_v the_o stop_n of_o commerce_n during_o the_o re-coinage_n the_o first_o and_o indeed_o most_o material_a point_n that_o offer_v itself_o to_o our_o consideration_n be_v the_o value_n that_o ought_v to_o be_v fix_v on_o the_o ounce_n of_o silver_n or_o whether_o it_o be_v more_o for_o the_o public_a interest_n to_o have_v it_o reduce_v unto_o sixty_o two_o penny_n or_o to_o have_v it_o advance_v proportionable_a to_o the_o present_a scarcity_n and_o want_n thereof_o the_o latter_a of_o which_o two_o opinion_n viz._n that_o it_o be_v most_o for_o the_o interest_n of_o the_o nation_n to_o advance_v the_o price_n of_o our_o silver_n seem_v most_o rational_a in_o itself_o and_o beneficial_a to_o the_o kingdom_n in_o its_o present_a circumstance_n and_o that_o for_o several_a cogent_n and_o if_o i_o mistake_v not_o unanswerable_a reason_n whereof_o the_o follow_a be_v some_o of_o the_o principal_a which_o when_o i_o can_v find_v satisfactory_o answer_v i_o engage_v to_o change_v my_o opinion_n until_o which_o be_v do_v i_o hope_v those_o of_o the_o contrary_a persuasion_n will_v alter_v they_o these_o reason_n i_o shall_v dispose_v under_o two_o head_n 1._o i_o shall_v enumerate_v some_o of_o the_o grand_a inconvenience_n that_o will_v attend_v the_o non-advancement_n of_o silver_n 2._o i_o shall_v represent_v some_o of_o the_o advantage_n that_o will_v accrue_v to_o the_o nation_n by_o raise_v the_o price_n thereof_o and_o to_o begin_v with_o a_o enumeration_n of_o the_o evil_a consequence_n that_o will_v attend_v the_o low_a valuation_n of_o silver_n some_o of_o the_o principal_a whereof_o be_v 1._o the_o want_n of_o a_o sufficient_a quantity_n of_o money_n for_o payment_n of_o the_o tax_n and_o rent_n and_o carry_v on_o of_o the_o trade_n of_o the_o nation_n now_o if_o i_o can_v but_o prove_v that_o such_o a_o excessive_a want_n and_o scarcity_n of_o money_n will_v be_v the_o certain_a and_o fatal_a consequence_n of_o fix_v so_o low_a a_o rate_n on_o silver_n i_o think_v this_o single_a consideration_n be_v sufficient_a to_o dissuade_v the_o practice_n of_o it_o for_o certain_o such_o a_o method_n of_o regulate_v the_o coin_n as_o carry_v with_o it_o such_o fatal_a and_o pernicious_a consequence_n as_o the_o occasion_v so_o great_a a_o scarcity_n of_o money_n as_o to_o render_v we_o incapable_a of_o pay_v our_o tax_n and_o rent_n and_o management_n of_o our_o trade_n and_o that_o will_v impoverish_v the_o nation_n to_o that_o degree_n as_o to_o incapacitate_v we_o for_o the_o continuance_n of_o the_o war_n and_o thereby_o oblige_v we_o and_o consequent_o the_o rest_n of_o europe_n to_o truckle_n to_o the_o ambition_n and_o power_n of_o france_n i_o say_v such_o a_o method_n that_o draw_v with_o it_o such_o consequence_n as_o these_o must_v be_v acknowledge_v of_o all_o hand_n to_o be_v very_o unfit_a to_o be_v pursue_v now_o that_o the_o low_a valuation_n of_o silver_n will_v cause_v so_o great_a a_o scarcity_n of_o money_n as_o will_v in_o a_o great_a measure_n produce_v such_o fatal_a effect_n may_v i_o conceive_v be_v evince_v from_o the_o ensue_a consideration_n 1._o that_o the_o fix_v a_o low_a rate_n on_o silver_n will_v produce_v such_o a_o excessive_a scarcity_n of_o money_n may_v partly_o be_v evince_v if_o we_o consider_v that_o what_o silver_n shall_v be_v recoined_a together_o with_o what_o mill_v and_o unclipped_a money_n be_v still_o remain_v will_v not_o go_v so_o far_o by_o near_a a_o million_o of_o pound_n sterling_n if_o it_o be_v recoined_a at_o a_o low_a rate_n as_o it_o will_v if_o the_o value_n be_v augment_v which_o will_v be_v evident_a if_o we_o compare_v what_o quantity_n of_o money_n in_o tale_n may_v be_v recoined_a out_o of_o the_o clip_v money_n reckon_v the_o silver_n at_o 62_o pence_n per_fw-la ounce_n with_o the_o quantity_n that_o may_v be_v make_v out_o of_o the_o same_o silver_n reckon_v at_o a_o four_o part_n more_o viz._n at_o 6_o s._n 5_o d._n ½_o per_fw-la ounce_n there_o may_v be_v as_o be_v compute_v by_o the_o judicious_a mr._n lowndes_n about_o 5600000_o l._n of_o sterling_a money_n leave_v in_o the_o kingdom_n whereof_o he_o suppose_v about_o 1600000_o l._n may_v be_v in_o milled_a and_o unclipped_a money_n and_o the_o other_o four_o million_o in_o clip_v money_n which_o one_o with_o another_o as_o appear_v by_o several_a bag_n weigh_v at_o the_o exchequer_n be_v diminish_v full_o one_o half_a of_o its_o weight_n so_o that_o the_o say_v four_o million_o recoined_a according_a to_o the_o present_a establishment_n will_v not_o make_v above_o two_o million_o of_o milled_a money_n which_o with_o the_o 1600000_o l._n suppose_a to_o be_v remain_v in_o milled_a and_o unclipped_a money_n and_o make_v in_o all_o 3600000_o l._n will_v be_v all_o the_o silver_n money_n we_o be_v
and_o denomination_n of_o our_o coin_n be_v regard_v as_o well_o as_o the_o real_a and_o intrinsic_a one_o in_o our_o deal_n one_o with_o another_o so_o that_o the_o increase_n of_o the_o extrinsic_a value_n or_o denomination_n of_o our_o money_n will_v cause_v it_o to_o go_v further_o in_o payment_n and_o purchase_v more_o good_n than_o it_o will_v otherwise_o do_v and_o in_o every_o regulation_n of_o the_o coin_n there_o ought_v to_o be_v have_v a_o equal_a if_o not_o superior_a regard_n to_o the_o interest_n of_o our_o domestic_a as_o well_o as_o foreign_a commerce_n for_o the_o service_n of_o which_o former_a money_n seem_v to_o have_v be_v principal_o intend_v as_o be_v design_v to_o answer_v such_o thing_n as_o can_v not_o be_v easy_o reckon_v or_o equal_o divide_v and_o make_v to_o answer_v one_o another_o but_o a_o due_a consideration_n of_o the_o interest_n of_o our_o inland_n traffic_n in_o the_o regulation_n of_o our_o money_n seem_v to_o be_v whole_o neglect_v by_o the_o great_a stickler_n for_o a_o low_a valuation_n of_o our_o money_n who_o measure_n seem_v chief_o calculate_v for_o the_o meridian_n of_o foreign_a trade_n and_o their_o own_o particular_a interest_n insomuch_o as_o i_o hope_v it_o will_v be_v judge_v no_o breach_n of_o charity_n to_o conjecture_v that_o the_o true_a motive_n by_o which_o some_o of_o that_o party_n be_v act_v in_o this_o affair_n be_v that_o many_o of_o they_o be_v foreigner_n and_o trade_v in_o commodity_n come_v from_o holland_n the_o sound_z streights_n etc._n etc._n may_v instead_o of_o make_v their_o return_v in_o good_n remit_v our_o money_n thither_o in_o specie_fw-la by_o the_o extraordinary_a goodness_n whereof_o they_o propose_v to_o gain_v 20_o or_o 25_o per_fw-la cent._n in_o the_o exchange_n which_o they_o know_v can_v be_v do_v if_o our_o money_n be_v fix_v at_o a_o pretty_a high_a rate_n but_o though_o this_o may_v be_v true_a as_o to_o some_o of_o they_o yet_o i_o doubt_v not_o but_o there_o be_v many_o person_n of_o the_o same_o opinion_n who_o intention_n be_v undoubted_o generous_a and_o honest_a but_o have_v be_v wheedle_v by_o some_o design_v self-interested_n person_n to_o think_v and_o act_v otherwise_o in_o this_o affair_n than_o they_o will_v have_v do_v if_o leave_v to_o have_v pursue_v the_o dictate_v of_o their_o own_o better_a and_o more_o impartial_a judgement_n have_v as_o i_o hope_v sufficient_o enervate_v the_o force_n of_o this_o grand_a objection_n in_o which_o i_o have_v be_v the_o more_o prolix_a because_o it_o be_v one_o of_o the_o most_o plausible_a the_o cause_n will_v afford_v i_o proceed_v to_o the_o mention_n of_o a_o second_o reason_n to_o prove_v that_o a_o excessive_a scarcity_n of_o money_n will_v be_v a_o consequence_n of_o the_o non-advancement_n of_o silver_n which_o be_v 2._o that_o the_o reduction_n of_o silver_n to_o so_o low_a a_o rate_n will_v not_o only_o prevent_v its_o go_v so_o far_o in_o tale_n and_o purchase_n as_o it_o otherwise_o will_v but_o will_v also_o be_v such_o a_o great_a discouragement_n to_o the_o importation_n of_o gold_n and_o silver_n into_o the_o kingdom_n and_o carry_v of_o it_o into_o the_o mint_n as_o will_v thereby_o cut_v off_o all_o hope_n of_o procure_a bullion_n to_o increase_v the_o coin_n i_o need_v not_o prove_v that_o increase_n of_o our_o money_n at_o a_o juncture_n when_o by_o melt_v clip_v and_o other_o indirect_a mean_n it_o be_v reduce_v to_o so_o small_a a_o quantity_n must_v be_v conclude_v to_o be_v for_o the_o public_a good_a and_o consequent_o any_o proposal_n that_o tend_v to_o deprive_v the_o nation_n of_o such_o a_o advantage_n as_o the_o augmentation_n of_o our_o coin_n be_v universal_o acknowledge_v to_o be_v must_v necessary_o be_v judge_v repugnant_a to_o the_o public_a interest_n and_o that_o a_o low_a valuation_n of_o silver_n tend_v to_o prevent_v the_o increase_n of_o our_o money_n will_v be_v evident_a if_o we_o consider_v that_o no_o person_n will_v carry_v any_o silver_n into_o the_o mint_n at_o 5_o s._n 2_o d._n per_fw-la ounce_n when_o beside_o that_o it_o be_v likely_a they_o give_v considerable_o more_o for_o it_o themselves_o it_o will_v yield_v a_o better_a price_n elsewhere_o so_o that_o the_o fix_v so_o low_a a_o state_n on_o gold_n and_o silver_n will_v be_v as_o effectual_a a_o prohibition_n of_o the_o importation_n of_o it_o into_o the_o kingdom_n and_o carry_v of_o it_o unto_o the_o mint_n as_o any_o law_n that_o can_v be_v enact_v for_o that_o purpose_n a_o three_o reason_n to_o evince_v that_o such_o a_o excessive_a want_n of_o money_n will_v ensue_v on_o the_o non_fw-fr advancement_n of_o gold_n and_o silver_n be_v that_o fix_v so_o low_a a_o value_n on_o silver_n will_v not_o only_o so_o discourage_v the_o importation_n of_o it_o into_o the_o kingdom_n and_o carry_v of_o it_o into_o the_o mint_n as_o will_v cut_v off_o all_o hope_n of_o increase_v the_o quantity_n of_o our_o coin_n but_o also_o will_v be_v such_o a_o temptation_n to_o person_n to_o melt_v and_o transport_v it_o as_o will_v render_v it_o impossible_a for_o we_o to_o preserve_v even_o the_o little_a we_o shall_v have_v leave_v from_o be_v convey_v out_o of_o the_o nation_n so_o that_o suppose_v the_o government_n shall_v impose_v the_o hard_a term_n of_o carry_v in_o our_o plate_n to_o be_v coin_v at_o 1_o s._n or_o 1_o s._n 6_o d._n per_fw-la ounce_n less_o than_o it_o cost_v and_o thereby_o the_o quantity_n of_o our_o money_n shall_v be_v for_o the_o present_a augment_v nay_o imagine_v we_o have_v double_a the_o quantity_n of_o money_n that_o be_v possible_a for_o we_o to_o have_v yet_o if_o the_o value_n be_v settle_v at_o the_o rate_n of_o the_o present_a establishment_n or_o 5_o s._n 2_o d._n per_fw-la ounce_n in_o the_o process_n of_o a_o few_o year_n it_o will_v be_v insensible_o melt_v and_o transport_v until_o there_o will_v not_o remain_v a_o sufficient_a quantity_n for_o the_o supply_v our_o most_o urgent_a occasion_n but_o the_o nation_n will_v be_v involve_v in_o a_o great_a exigency_n and_o distress_n than_o it_o ever_o do_v or_o i_o hope_v ever_o will_v experience_n now_o that_o what_o i_o have_v here_o urge_v be_v not_o a_o mere_a scarecrow_n to_o terrify_v child_n and_o fool_n withal_o i_o appeal_v to_o our_o own_o sad_a experience_n which_o never_o speak_v clear_a in_o any_o case_n than_o it_o do_v in_o this_o do_v not_o this_o inform_v we_o in_o general_n that_o though_o there_o shall_v be_v enact_v the_o severe_a law_n back_v with_o the_o execution_n of_o the_o most_o rigorous_a penalty_n against_o the_o commission_n of_o a_o crime_n by_o which_o there_o be_v a_o prospect_n of_o certain_a gain_n yet_o that_o there_o will_v never_o be_v want_v person_n who_o for_o the_o sake_n thereof_o will_v hazard_v the_o endure_a the_o great_a punishment_n and_o do_v not_o experience_n further_o teach_v we_o in_o general_a that_o few_o law_n be_v obey_v the_o violation_n whereof_o be_v more_o gainful_a than_o the_o observation_n and_o where_o the_o profit_n of_o break_v they_o be_v great_a and_o certain_a but_o the_o penalty_n dubious_a or_o easy_o avoidable_a but_o do_v not_o even_o our_o own_o present_a experience_n furnish_v we_o with_o pregnant_a instance_n in_o relation_n to_o this_o particular_a subject_n of_o the_o coin_n since_o of_o above_o fifteen_o million_o of_o silver_n money_n which_o as_o appear_v by_o the_o register_n of_o the_o mint_n have_v be_v coin_v since_o the_o time_n of_o king_n henry_n the_o eight_o not_o above_o one_o three_o part_n be_v compute_v to_o be_v remain_v in_o specie_fw-la but_o all_o the_o rest_n either_o melt_v down_o or_o transport_v so_o that_o we_o may_v rational_o judge_v of_o the_o future_a by_o what_o be_v already_o past_a nay_o rather_o we_o may_v conclude_v that_o silver_n and_o gold_n be_v scarce_a and_o dear_a now_o on_o many_o account_n than_o for_o several_a year_n past_a shall_v they_o be_v settle_v at_o so_o low_a a_o rate_n the_o encouragement_n to_o melt_v and_o transport_v it_o be_v great_a than_o ever_o their_o industry_n therein_o will_v consequent_o be_v more_o than_o ordinary_a for_o we_o have_v no_o reason_n to_o imagine_v that_o when_o the_o reason_n and_o temptation_n of_o do_v it_o will_v be_v so_o much_o augment_v that_o their_o diligence_n will_v be_v lessen_v for_o if_o person_n will_v not_o stick_v at_o the_o commission_n of_o a_o crime_n for_o the_o obtain_n of_o a_o less_o advantage_n they_o will_v not_o scruple_n it_o for_o the_o procure_n of_o a_o great_a and_o this_o reason_n will_v appear_v yet_o more_o unanswerable_a if_o beside_o the_o clandestine_v and_o illegal_a convey_v the_o silver_n out_o of_o the_o land_n which_o i_o have_v prove_v will_v be_v a_o inevitable_a consequence_n of_o the_o scarcity_n and_o goodness_n of_o
our_o money_n there_o will_v also_o thereby_o ensue_v this_o further_a inconvenience_n viz._n that_o our_o neighbour_n supply_v we_o with_o more_o good_n than_o we_o do_v they_o we_o thereby_o become_v their_o debtor_n and_o consequent_o must_v pay_v what_o we_o owe_v they_o in_o such_o as_o they_o will_v please_v to_o accept_v and_o we_o may_v be_v certain_a they_o will_v choose_v to_o have_v their_o return_v in_o that_o whereby_o they_o shall_v gain_v most_o so_o that_o if_o our_o silver_n be_v reduce_v to_o a_o low_a value_n they_o will_v choose_v to_o have_v their_o return_v in_o as_o much_o of_o it_o as_o they_o can_v whereby_o we_o shall_v be_v at_o length_n so_o drain_v of_o our_o money_n as_o to_o be_v reduce_v to_o such_o a_o scarcity_n and_o want_n of_o money_n as_o i_o affirm_v and_o i_o think_v have_v prove_v will_v be_v the_o consequence_n of_o the_o non-advancement_n of_o silver_n and_o the_o cause_n of_o such_o a_o poverty_n as_o will_v disable_v we_o to_o pay_v our_o tax_n and_o rent_n and_o manage_v our_o trade_n which_o though_o it_o be_v but_o a_o single_a instance_n of_o the_o mischievous_a effect_n of_o set_v a_o low_a valuation_n on_o silver_n yet_o be_v one_o of_o so_o black_a and_o extensive_a a_o nature_n and_o draw_v such_o a_o numerous_a and_o dismal_a train_n of_o ill_a consequence_n along_o with_o it_o as_o will_v spare_v i_o the_o labour_n of_o add_v much_o more_o to_o prove_v the_o disadvantage_n of_o such_o a_o practice_n however_o i_o shall_v mention_v a_o second_o grand_a inconvenience_n that_o will_v attend_v the_o non-advancement_n of_o silver_n viz._n that_o the_o make_v our_o money_n of_o a_o great_a weight_n and_o a_o low_a value_n will_v mighty_o obstruct_v the_o sale_n of_o our_o manufacture_n and_o inland_n commodity_n both_o to_o our_o neighbour_n abroad_o and_o among_o ourselves_o at_o home_n for_o as_o to_o our_o neighbour_n if_o our_o money_n be_v make_v of_o so_o extraordinary_a goodness_n they_o will_v as_o i_o say_v before_o choose_v to_o have_v their_o return_v make_v in_o that_o and_o in_o as_o few_o of_o our_o good_n as_o possible_a which_o will_v cause_v our_o commodity_n to_o fall_v very_o much_o on_o our_o hand_n for_o want_n of_o buyer_n in_o the_o mean_a time_n our_o neighbour_n take_v as_o much_o money_n and_o as_o few_o good_n from_o we_o as_o possible_a will_v thereby_o together_o with_o the_o concurrence_n of_o some_o other_o cause_v mention_v in_o the_o forego_n head_n occasion_n such_o a_o want_n of_o money_n as_o will_v mighty_o obstruct_v the_o vent_n of_o our_o inland_n commodity_n even_o among_o ourselves_o and_o so_o very_a much_o prejudice_v our_o domestic_a as_o well_o as_o foreign_a commerce_n for_o a_o great_a scarcity_n of_o money_n will_v oblige_v person_n to_o retrench_v their_o usual_a expense_n and_o employ_v their_o money_n in_o such_o thing_n only_o as_o be_v of_o pure_a necessity_n so_o that_o most_o of_o the_o trade_n that_o subsist_v by_o furnish_v thing_n for_o the_o pleasure_n and_o ornament_n of_o humane_a life_n of_o which_o kind_n the_o great_a part_n of_o the_o trade_n of_o the_o nation_n subsist_v must_v necessary_o droop_v and_o decline_v for_o person_n not_o have_v money_n sufficient_a to_o gratify_v both_o their_o necessity_n and_o their_o pleasure_n will_v be_v oblige_v to_o balk_v the_o latter_a to_o serve_v the_o former_a or_o at_o least_o to_o disappoint_v one_o of_o the_o two_o and_o then_o among_o other_o commodity_n that_o will_v fall_v so_o much_o by_o reason_n of_o the_o scarcity_n of_o money_n we_o may_v be_v certain_a that_o corn_n cattle_n and_o the_o other_o product_n of_o land_n will_v bear_v a_o proportion_n and_o if_o a_o tenant_n can_v make_v so_o much_o of_o the_o product_n of_o his_o farm_n as_o he_o use_v to_o do_v than_o it_o will_v be_v impossible_a for_o he_o to_o pay_v his_o landlord_n the_o usual_a rent_n so_o that_o all_o the_o land_n and_o tenement_n must_v of_o necessity_n sink_v considerable_o below_o their_o present_a yearly_a rent_n which_o will_v not_o be_v the_o only_a diskindness_n that_o this_o hopeful_a project_n of_o reduce_v the_o silver_n to_o so_o low_a a_o rate_n as_o 5_o s._n 2_o d._n per_fw-la ounce_n if_o it_o succeed_v will_v procure_v to_o the_o gentleman_n and_o landlord_n estate_n in_o england_n for_o this_o low_a rate_n of_o silver_n cause_v a_o scarcity_n of_o money_n and_o this_o scarcity_n of_o money_n natural_o cause_v the_o advancement_n of_o the_o interest_n thereof_o to_o perhaps_o double_a the_o present_a rate_n and_o the_o advancement_n of_o the_o interest_n of_o money_n will_v certain_o lower_v the_o purchase_n of_o land_n by_o several_a year_n for_o that_o when_o the_o increase_n of_o money_n be_v high_a land_n yield_v but_o a_o few_o year_n purchase_v but_o on_o the_o contrary_a when_o the_o interest_n of_o money_n be_v low_a than_o land_n sell_v for_o the_o most_o year_n purchase_v as_o will_v be_v evident_a if_o we_o compare_v the_o purchase_n of_o land_n in_o king_n henry_n the_o eighth_n time_n when_o interest_n of_o money_n be_v at_o 12_o or_o 14_o l._n per_fw-la cent._n per_fw-la annum_fw-la with_o the_o purchase_n of_o the_o same_o land_n now_o when_o interest_n be_v not_o above_o a_o three_o part_n of_o what_o it_o be_v at_o that_o time_n it_o be_v always_o observe_v that_o as_o the_o price_n of_o money_n be_v advance_v and_o thereby_o the_o species_n increase_v that_o the_o interest_n thereof_o fall_v and_o grow_v less_o and_o according_a as_o the_o interest_n of_o money_n fall_v so_o land_n advance_v several_a year_n purchase_v as_o will_v be_v manifest_a if_o we_o observe_v how_o much_o the_o land_n of_o england_n have_v be_v improve_v since_o the_o aforesaid_a time_n of_o king_n henry_n the_o eight_o when_o interest_n of_o money_n be_v so_o very_o high_a so_o that_o upon_o the_o whole_a we_o may_v see_v how_o much_o the_o gentleman_n and_o landlord_n of_o england_n be_v oblige_v to_o these_o person_n for_o propose_v such_o a_o method_n of_o regulate_v the_o coin_n that_o will_v not_o only_o by_o introduce_v a_o scarcity_n of_o money_n cause_n all_o the_o product_n and_o consequent_o the_o yearly_a rent_n of_o land_n to_o fall_v considerable_o but_o also_o advance_v the_o interest_n of_o money_n and_o thereby_o lower_v the_o purchase_n of_o land_n by_o several_a year_n and_o i_o conceive_v i_o have_v by_o this_o time_n so_o thorough_o represent_v the_o fatal_a consequence_n that_o will_v ensue_v on_o the_o fix_v silver_n at_o a_o low_a rate_n that_o the_o impartial_a reader_n by_o this_o time_n can_v but_o be_v sensible_a how_o destructive_a that_o course_n will_v be_v to_o the_o public_a good_n i_o shall_v now_o as_o i_o propose_v enforce_v my_o reason_n for_o advance_v the_o price_n of_o silver_n by_o represent_v the_o advantage_n that_o will_v accrue_v to_o the_o nation_n by_o do_v thereof_o but_o these_o be_v in_o some_o measure_n handle_v under_o the_o former_a head_n when_o i_o enumerate_v the_o ill_a consequence_n of_o the_o contrary_a course_n and_o these_o advantage_n of_o raise_v silver_n be_v but_o as_o it_o be_v the_o reverse_n of_o and_o direct_o opposite_a unto_o the_o disadvantage_n of_o fix_v a_o low_a value_n thereon_o the_o good_a effect_n of_o the_o one_o be_v best_a see_v by_o oppose_v they_o to_o the_o bad_a one_o of_o the_o other_o method_n which_o i_o shall_v do_v very_o brief_o if_o the_o set_v a_o low_a valuation_n on_o silver_n will_v cause_v that_o it_o will_v pass_v but_o a_o little_a way_n in_o payment_n the_o contrary_a method_n will_v make_v it_o go_v as_o far_o as_o possible_a if_o the_o former_a be_v such_o a_o discouragement_n to_o the_o bring_n in_o of_o silver_n to_o be_v coin_v as_o cut_v off_o all_o hope_n of_o increase_v the_o quantity_n of_o our_o money_n the_o latter_a afford_v all_o imaginable_a encouragement_n both_o to_o the_o importation_n of_o it_o into_o the_o kingdom_n and_o to_o the_o carry_v it_o into_o the_o mint_n to_o be_v coin_v by_o which_o mean_n we_o may_v hope_v to_o have_v as_o great_a a_o plenty_n of_o good_a money_n as_o ever_o be_v yet_o in_o the_o nation_n again_o if_o the_o set_n too_o low_a a_o valuation_n on_o silver_n be_v a_o temptation_n to_o convey_v it_o out_o of_o the_o kingdom_n the_o fix_v a_o high_a rate_n thereon_o will_v be_v a_o mean_n of_o preserve_v the_o coin_n entire_a and_o unmelted_a and_o if_o the_o low_a rate_n of_o silver_n will_v obstruct_v the_o exportation_n of_o our_o commodity_n because_o our_o neighbour_n will_v choose_v our_o money_n before_o our_o good_n on_o the_o contrary_a the_o advance_v silver_n to_o a_o pretty_a high_a rate_n will_v induce_v they_o to_o choose_v our_o commodity_n rather_o than_o our_o money_n and_o thereby_o encourage_v our_o trade_n and_o manufacture_n and_o preserve_v
money_n be_v general_o less_o and_o light_a than_o the_o clip_v silver_n so_o that_o the_o loss_n of_o another_o million_o at_o least_o will_n by_o the_o lightness_n of_o the_o money_n fall_v also_o on_o the_o proprietor_n so_o that_o the_o public_a will_n only_o have_v the_o loss_n of_o about_o a_o million_o of_o pound_n sterling_a in_o weight_n or_o about_o four_o million_o of_o ounce_n of_o mix_v and_o course_n silver_n to_o make_v good_a which_o say_v metal_n may_v one_o with_o another_o be_v worth_a about_o 3_o s._n a_o ounce_n according_a to_o the_o advance_a price_n of_o silver_n so_o that_o the_o loss_n on_o the_o part_n of_o the_o public_a will_v not_o exceed_v 4_o or_o 500000_o l._n which_o yet_o will_v be_v a_o great_a ease_n to_o the_o poor_a who_o must_v otherwise_o be_v oblige_v to_o dispose_v of_o their_o bad_a money_n at_o unreasonable_a low_a rate_n to_o the_o goldsmith_n or_o other_o that_o will_v buy_v it_o of_o they_o and_o i_o think_v there_o can_v be_v hardly_o be_v any_o good_a reason_n give_v wherefore_o the_o public_a shall_v sustain_v the_o loss_n of_o the_o clip_v silver_n which_o will_v not_o be_v of_o equal_a force_n to_o prove_v that_o the_o nation_n be_v as_o much_o oblige_v to_o sustain_v at_o least_o some_o part_n of_o the_o loss_n of_o the_o counterfeit_n money_n which_o shall_v suffice_v for_o a_o answer_n to_o the_o second_o general_n enquiry_n by_o who_o the_o loss_n of_o the_o clip_v and_o counterfeit_n money_n ought_v to_o be_v sustain_v the_o three_o head_n i_o propose_v to_o inquire_v into_o be_v by_o what_o mean_n may_v the_o mint_n be_v supply_v with_o a_o sufficient_a quantity_n of_o bullion_n to_o make_v near_o as_o much_o good_a money_n in_o tale_n as_o there_o be_v at_o this_o time_n of_o good_a and_o bad_a together_o to_o which_o i_o answer_v brief_o in_o general_n that_o the_o only_a effectual_a mean_n of_o accomplish_v this_o be_v what_o i_o have_v already_o so_o strong_o urge_v viz._n the_o advancement_n of_o the_o price_n of_o silver_n which_o will_v be_v the_o only_a encouragement_n to_o the_o importation_n of_o silver_n into_o the_o kingdom_n and_o carry_v of_o it_o into_o the_o mint_n but_o to_o propose_v some_o more_o particular_a mean_n of_o effect_v this_o i_o will_v humble_o advise_v that_o all_o the_o gold_n and_o silver_n plate_n throughout_o the_o kingdom_n except_v such_o quantity_n and_o sort_n of_o each_o as_o shall_v be_v judge_v fit_a to_o be_v reserve_v according_a to_o person_n several_a degree_n and_o estate_n be_v order_v to_o be_v bring_v into_o the_o mint_n and_o coin_v into_o money_n at_o the_o rate_n of_o 6_o s._n 5_o d._n ½_o per_fw-la ounce_n answerable_a to_o the_o other_o silver_n whereby_o notwithstanding_o the_o reservation_n of_o such_o a_o certain_a quantity_n as_o shall_v be_v judge_v fit_a there_o will_v be_v near_o two_o million_o of_o good_a sterling_n mnney_n add_v to_o the_o coin_n of_o the_o nation_n without_o oppress_v any_o particular_a person_n who_o can_v have_v no_o cause_n of_o complaint_n when_o they_o be_v allow_v so_o good_a a_o price_n for_o their_o plate_n which_o will_v be_v more_o beneficial_a to_o the_o owner_n as_o well_o as_o the_o public_a after_o it_o be_v coin_v into_o money_n than_o it_o be_v before_o when_o it_o serve_v more_o for_o ostentation_n than_o for_o use_v i_o be_o come_v at_o length_n to_o the_o four_o and_o last_o general_n head_n of_o enquiry_n viz._n what_o method_n be_v proper_a to_o be_v make_v use_n of_o to_o prevent_v the_o stop_n of_o commerce_n during_o the_o re-coinage_n to_o which_o i_o will_v make_v as_o brief_a and_o satisfactory_a a_o answer_n as_o i_o can_v in_o the_o follow_a particular_n 1._o that_o it_o will_v be_v requisite_a that_o all_o the_o mill_v and_o unclipt_a money_n that_o be_v remain_v be_v immediate_o order_v to_o pass_v the_o crown-piece_n at_o 6_o s._n 3_o d._n and_o the_o other_o piece_n proportionable_o the_o propose_a advancement_n of_o silver_n one_o four_o part_n above_o the_o present_a value_n 2._o that_o the_o price_n of_o guinea_n ought_v to_o be_v fix_v and_o they_o order_v to_o fall_v gradual_o so_o much_o per_fw-la mensem_fw-la as_o be_v before_o propose_v that_o person_n may_v not_o by_o the_o uncertainty_n of_o their_o price_n be_v deter_v from_o accept_v they_o in_o payment_n 3._o that_o the_o clip_v silver_n shall_v be_v carry_v in_o to_o be_v recoined_a there_o shall_v be_v note_n give_v out_o intitul_a the_o bearer_n to_o the_o value_n of_o so_o much_o clip_v silver_n as_o he_o carry_v in_o to_o be_v pay_v in_o milled_a money_n as_o soon_o as_o coin_v with_o interest_n at_o 5_o per_fw-la cent._n per_fw-la annum_fw-la until_o the_o respective_a bill_n shall_v come_v to_o their_o course_n of_o be_v pay_v and_o these_o note_n shall_v be_v order_v to_o pass_v in_o payment_n as_o money_n and_o make_v transferrable_a from_o one_o person_n to_o another_o the_o bearer_n be_v entitle_v to_o the_o receipt_n of_o the_o money_n when_o it_o '_o come_v due_a and_o these_o note_n by_o reason_n of_o the_o 5_o per_fw-la cent._n annex_v to_o they_o will_v be_v judge_v preferable_a to_o any_o goldsmith_n or_o bank_n bill_n which_o together_o with_o the_o remainder_n of_o the_o mill_v and_o unclipt_a money_n which_o upon_o the_o advancement_n of_o the_o value_n will_v present_o come_v abroad_o and_o will_v with_o the_o assistance_n of_o the_o gold_n so_o well_o supply_v the_o place_n of_o our_o clip_v and_o counterfeit_n money_n that_o we_o need_v not_o apprehend_v any_o considerable_a stop_v of_o commerce_n during_o the_o re-coinage_n thus_o have_v i_o with_o what_o brevity_n and_o perspicuity_n i_o can_v communicate_v my_o thought_n on_o these_o four_o important_a point_n which_o i_o think_v do_v include_v all_o that_o be_v most_o material_a to_o be_v say_v in_o relation_n to_o the_o reformation_n of_o the_o coin_n finis_fw-la