Catalogue Entry: MINT00268

'Of Credit good & bad, and of the usefulness of the former' (changed from 'Of Credit good & counterfeit, & of the usefulness of the first & danger of the last').

Author: Isaac Newton

Source: MINT 19/2/631-2, National Archives, Kew, Richmond, Surrey, UK

[Normalized Text] [Diplomatic Text]


Memorandum constituting part 3 of Newton's 'Observations on Mr P's Reply'. Rejects Pollexfen's comparison of paper money to counterfeit coin. Credit backed by good security, such as bills of exchange, bank bills, Exchequer bills, malt tickets, Million Lottery tickets, annuity tickets, etc., can be treated exactly like coin. It is the perceived value that matters.

Followed by a collection of preparatory notes for this and the foregoing parts of the 'Observations'.

Complete copy of the 'Observations' in Pierpont Morgan Library, Acc. No. MA317(7).

[1] p. 13

[2] p 13

[3] p 16

[4] p 5

[5] p. 5, 6

© 2020 The Newton Project

Professor Rob Iliffe
Director, AHRC Newton Papers Project

Scott Mandelbrote,
Fellow & Perne librarian, Peterhouse, Cambridge

Faculty of History, George Street, Oxford, OX1 2RL -

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