Draft of <ref target="/catalogue/record/MINT00270">MINT00270</ref> (Mint 19/2/139) Isaac Newton Unknown c. 1,028 words Newton Project London 2019 Newton Project, University of Oxford

This metadata is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

 c. 20 January 1701, c. 1,028 words.

In a clerical hand, heavily emended and expanded by Newton.

 Recommendations regarding currency control [MINT 19/2/139] MINT 19/2/81, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/2/81 c. 20 January 1701 England English Holograph Clerical Hand MintEconomic Theory and Legislation Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young Catalogue exported to teiHeader by Michael Hawkins Transcribed by Kees-Jan Schilt
To the Rt HonbleRight Honorable the Lords CommersCommissioners of his Majts TrearyMajesties Treasury

May it pleas.e yor LordpsLordships

The great value put upon French & Spanish Pistoles in England has made them of late flow plentifully hither above all other Sorts of Gold, especially the French Pistoles wchwhich are better sized and coyned and less liable to be counterfeited and by consequence of more credit then yethe Spanish. For Pistoles pass amongst us for 17s 6d a piece whereas one with another they are worth but about 17s 012d 17.s 1d at yethe rate that Guineas of due weight and allay are worth 21.s 6.d. And ifthe allowance be made for the lightness of our Silver monies wearing, yet Pistoles will be worth but between 17.s 2d and 17.s 3dIn France by yethe late and Edict of May last a Lewid Pistole (whether markt or not markt) passes for foure Ecus wanting 12 sous that is doe a 17.s 2.817d an Ecu passes for 68 sous as a Pistole whether (markt or not markt) for 13 livers or 4 Ecus wanting 12 Sous recconing an Ecu worth 4s 6d according to yethe reputedreputed pPar of Exchange. And so much may Pistoles may be worth here if allowance be made for the lightness of oer money by wearing

31417 Ecus About four years ago by the English putting too great a value upon Scotch money yethethe Northern borders of England were filled wthwith ytthat money and Scotland wthwith ours, the Scots makeing about 8 or 9 pr cent ꝑfittprofitt by the Exchange untill yor LordpsLordships were pleased to put a Stop to the misschief. The case being now yethe same (but of much greater consequence) in the reputed par of yethecourse of exchange Exchange between English money and Pistoles, wchwhich runsby where the reputed Par wasrunning at least 3d or 4d in a Pistole too high in the course of Exchange to yethe Nations lossto the nations loss We thereforetherefore thought it our duty humbly to represent it to yor.your LordpsLordships in order to such a remedy as yor.your LordpsLordships shall think fit. // We presume also to lay before yor.your LordpsLordships that by reasonanother great misschief wchwhich needs a remedy, Forof dangerous consequence of The great demand of forreign Silver for Exportation in Trade has raised the price of Bullion Exceedsabove ytthat of Silver monies 3d or 4d & Sometimes 6d or 7d pr ounce, whereas monies ought to be of as great or greater value then Bullion by reason of yethe workmanship and certainty of yethe Standard. aAnd this high price of Bullion has not onely put an end to yethe coynage of Silver, but is a great occasion of melting down and exporting what has been already coyned the running down of forreign coyn by private Artificers giveing them opportunity to mix our own in private for yethe Merchant faciliating the mischief & the dependance upon bare oaths faciliating the mischief. All wchwhich is we represent wthwithis most humblyey Submissiontted to yor.your LordpsLordships consideration andjudicious consideration & great wisdome. M 81
All forreign silver monues virgin silver & Spanish barrs brought to yethe Mint shall be there registred & melted into Ingots & yethe Ingots at yethe discretionchoise of yethe Importer either coyned or marked with one or moreone or more a marks provided by yethe Mr & WrMaster & Worker for that purpose. And the weight of yethe monies so coyned out of And all Spanish barrs brought the mint And at yethe request of the Importer the Master out out of a Book shall give him an Indented Ticket certifying AsThe weight of the monies coyned out of forreign silver monies, virgin Silver or Spanish Barrs shall be registred & weight of yethe monies coyned out by out yethe said forreign Silver [monies Virgin Silver or Spanish Barrs,] or out of Spanish barrs wchwhich Ticket shall be indented & cut of out of a book in wchwhich the same shall be entred. The Master Ingots so marked Ingotts so markt & Forreign monies in specie & Spanish Barrs & Virgin SIlver & Ingotts marked as above may be either exported from London or sold to Goldsmiths or others. Artificers or Merchants But Ingots not marked may not be exported nor bought or sold (except Spanish Barsrs,) but shallm shall be coyned if brought to yethe Mint. All monies so The Merchānt upon producingdelivering the Mint certificateTicket to thethe Customer house Officer may within a year after the date export so much English silver monies by weight as are conteined in affirmed in yethe conteined in the said certificatementioned therin & yethe OfficerCustomer shall enter yethe same in a Book & file yethe Ticket. And to check yethe Merchant the Master shall montly send to yethe Custome house a list of all the summs of money coyned out of forreign silver as above mentioned for wchwhich he has granted Tickets. Forreign monies Spanish Barrs & Virgin Silver & Ingots stamp may be freely exported i Specie, but being once melted in England elsewhere then in his MajtsMajesties Mint they shall not be exported except afterwards exported All silver moniens exported whether by (not excepting pocket money) 112d 114 1 Shall pay pr tatounce yethe cCustome house for or towards the charge of coynagecoyning the same. [And all uncoyned Silver exported Shall pay 014d. pr oz tat yethe Custome house for encouragment of coynage.] Which Dutiespayments shall be kept apart fwthwith yethe dDuty already granted for encouragement of coynage & therewith paid into yethe ExcheqrExchequer & thence imprest to yethe Mr & WrMaster & Worker for yethe same uses. Penalties upon them that counterfeit yethe Mint Mark or yethe Mint Tickets or ship silver to be exported unlawfully or without paying yethe duty, or buy or sell unmarkt Ingots, or counterfeit virgin silver coursery it ought to be in No Gold or silver (exceptother ynthen pocket money already allowed) to be exported out of Ireland except into England. And upon notice of all such exportations to be monthly sent from yethe Custome house in Ireland to that in London for enquiring after yethe same. The Master