"Proposals for preserving and encreasing the silver Coin of this Kingdom" Isaac Newton c. 755 words The Newton Project Oxford 2016 Newton Project, University of Oxford

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

 7 Jul 1702, c. 755 words.

Signed by the Mint Board.

Draft in Mint 19/2/602-3, MINT00287. Original accompanied by MINT00937, MINT00938 and MINT00939.

 T 1/80.105, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives T 1/80.105 7 Jul 1702 England English Clerical Hand Unknown Hand Mint Economic Theory and Legislation Transcribed by Will Scott Metadata amended & document catalogued by Will Scott
334

Proposals for preserving & Encreasing

the Silver Coin of this Kingdom.

All Silver imported & design'd for Exportation except Forreign Money, to be examin'd & enter'd in yethe Mint; & for that End, upon it'sits first arrival at London, to be brought to yethe Mint by yethe Owner, & Two or more other Witnesses, who shall there prove yethe importation upon Oath. And such of yethe said silver as is not yet in yethe Ingot, to be there melted down into Ingots, the Mercht:Merchant paying 1d ꝑper pound for yethe melting. & these Ingots & all other Ingots of yethe silver above mention'd shall at yethe choise of yethe Merchant be coin'd into Moneys, or markt with a Stamp provided in yethe Mint for that purpose. And yethe Master of yethe Mint (if desir'd) shall give yethe Merchant an Indented Ticket certifying yethe Weight of yethe Moneys coyn'd out of yethe said Forriegn silver, & yethe time of yethe Coynage thereof; which Ticket shall be cut out of a Book provided in yethe Mint, & be enter'd in the same Book

Ingots not markt with yethe Mint Stamp may not be Exported, nor carry'd on Board any ship, nor bought or sold, but may be brought to yethe Mint for encreasing the Coin, excepting that Ingots of fine silver may be sold by Refiners to silversmiths, Wyerdrawers & such other Artificers as manufacture yethe same. This Law now obtains in France by an Edict of March was a Twelvemonth, for prevennting yethe melting down of yethe moneys

The Merchant upon delivering yethe Mint Tickets at yethe Custom house, may within a Year after yethe Coynage of the Moneys mention'd therein, by warrant of yethe Commissioners of yethe Customs upon a day appointed in yethe Warrant, Ship for Exportation, the said Moneys, or yethe same Weight of like moneys, or any part thereof & also any Ingots wchwhich have yethe Mint Stamp upon them, or& any forreign Moneys & the Customer Customer shall enter yethe same and file yethe Tickets.

All Silver English Moneys before shipping for Exportation, to pay 1d: 12 ꝑper ounce Troy at the Custom house, for yethe Charges of assaying, melting, & Coyning yethe same which Duty shall be kept apart with yethe Duty already granted for Encouraragement of Coynage, & therewith paid into yethe Exchequer, and thence imprest to yethe Mr:Master of yethe Mint for yethe same uses.

Penalties on them who counterfeit yethe Mint Stamp or yethe Mint Tickets, or Ship off Silver not licens'd, or without paying yethe duty; or upon any other day then that appointed in yethe Warrant, or under any other name than that of yethe true Owner. Or buy, or smell unmarkt Ingots, or knowingly bring Silver to yethe Mint to be Markt, or Coin'd as Forreign which is not Forreign. Such a Law would Enable yethe Officers of yethe Mint to understand yethe State of yethe Money, wthwith respect to Trade. It would render Trade freer than at present. It would save the Merchant yethe trouble of attending with his Bullion, and Witnesses at Goldsmith's Hall, & Guild-hall, after he has melted it at yethe Refiners, or Goldsmiths. It would Check yethe melting down of her Majesty's moneys for Exportation, or for sale to Goldsmiths, much better than yethe Laws do at present. It would encrease yethe Coynage in her Mats:Majestys Mint & decrease yethe Indian Manufacture of coyning orour Bullion in Ports where yethe Company have not a Mint of their own. for which Coynage yethe Indians receive of us a large SeiginorageSeigniorage It would be profitable to yethe Merchant by yethe use of his Gold & Silver when turn'd into Money before Exportation. It would encrease our Coin, as well by yethe Merchants Money running amongst us, till Exportation, as by what is not exported within yethe Year. It would be of great Credit to yethe Nation, by yethe Merchants exporting their Gold & Silver in yethe form of English money, to be current in Forreign Nations. and thereby335 thereby make us appear abroad, more rich & potent, than We do at present. And all this would be done, without any new charge to yethe Government. And if yethe Governmt:Government should pay the Charge of Coynage, or any part thereof, it would be pay'd by one part of yethe Nation to another part thereof, wthwithout loss to yethe whole. I Stanley Is. Newton In Ellis Mint Office 7 AprIul. 1702 Proposals for preserving and encreasing yethe Silver Coin of this Kingdom.