Draft of <ref target="/catalogue/record/MINT00270">MINT00270</ref> (Mint 19/2/139) Isaac Newton Unknown c. 435 words Newton Project London 2019 Newton Project, University of Oxford

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 c. 20 January 1701, c. 435 words. Recommendations regarding currency control [MINT 19/2/139] MINT 19/2/143, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/2/143 c. 20 January 1701 England English Holograph 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 please 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 & coyned & less liable to be counterfeited & by consequence of more credit then the Spanish. For Pistoles pass amongst us for 17s 6d a piece whereas one with another they are worth but abiut 17s 012d or 17s. 1d at the rate that Guineas of due weight & allay are worth 21s. 6d. And theif allowance be made for the lightness of oer silver monies by the melting down of the heaviest pieces & wearing of the rest, yet Pistoles will be worth between 17s 2d & 17s. 3d.

About four years ago by the English putting too great a value upon Scotch money the Northern borders of England were filled with that money & Scotland was filled with oers the Scots making about 8 or 9 pr cent profit by the exchange untill yor LordpsLordships were pleased to put a stop to the mischief. The case being now the same (but of moreuch dangerousgreater consequence) in the reputed pPar of yethe Exchange between oerEnglish money & Pistoles, whuch runs 3d or 4d in a Pistole too high to yethe nations loss in the course of Exchange; we therefore thought it oer duty to humbly to represent it to your LordpsLordships in order to such a remedy as yor LordpsLordships shall think fit, [so that when yethe exchange between us & forreign nations runs on oer side as at present we may not lose oer advantage by it & when it runs against us we may not lose more by it then is necessary. We presume also to lay before yor LordpsLordships that by reason of the great demand of silver for exportation in Trade, the price of Bullion exceeds that of silver monies by 3d or 4d and sometimes by 6d or 7d pr ounce, whereas the monies ought to be of as great or greater value then Bullion by reason of the workmanship & certainty of yethe standard. And this high price of Bullion has not only put an end to yethe coynage of silver is yethea great temptation to theoccasion of melting down and exporting what ahas been already coyned. A mischief of such consequence as may deserve yor LopsLordships consideration of a remedy All wchwhich is most humbly submitted &c to yor LordpsLordships consideration & great wisdome. 143