'The value of Gold in proportion to silver in several parts of Europe'

Author: Isaac Newton

Source: MINT 19/2/104-5, National Archives, Kew, Richmond, Surrey, UK

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- Revision History
  - 1 January 2001
    - Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young
  - 29 September 2011
    - Catalogue exported to teiHeader by Michael Hawkins
  - 11 March 2017
    - Transcribed by Will Scott, with retrofitting from MINT00939, and alterations made to relatedMaterial note
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<104r>

The value of Gold in proportion to silver in several parts of Europe

The Ecu of France goes there for 3^liv. 16^sol. and {illeg}|b|y the weight & assay is worth 4^s 6^d English & thence the Livre is worth 1^s. 2^d_∟21. The Lewidor goes there for 14 livres w^ch amount to 16^s 6^d_∟94 english. At w^ch rate a Guinea is worth {illeg}|2|0^s. 8^d $\frac{1}{4}$ . For as 17^s. 2^d_∟8 (the value of an new coynd Lewid'or in England according to the \{illeg}/ Table of Monies) is to 16^s. 6^d_∟94 (the value of the same in France) so is 21^s 6^d the value of an \unworn/ Guinea in England to 20^s. 8^d $\frac{1}{4}$

By the French King's Edict of Sept 17^th 1701 the Mark of fine gold is valued at 494 livres 6 sols 4 deniers & the Mark of fine silver at 32 livres 16 sols 7 deniers. According to w^ch proportion a Guinea of just weight & fineness is worth 20^s. 8^d $\frac{3}{4}$ in e|E|nglish silver money of just weight & fineness.

The Ducat is coyned every where in Germany & some northern countries adjoyning of the same weight & fineness excepting that y^e Hungary Ducats are more certainly of full value. It is coyned for two \old/ Rix dollers of the Empire or nine shillings English, & usually goes at that rate or within two or three styvers more or less, whereas in England it is worth 9^s. 6^d_∟3. But if the Rix{illeg}|d|oller be of a lower value, as are the Rixdollers of Holland Flanders Danemark & several parts of Germany, the Ducat may go for two Rixdollers & 6, 8 or 10 Styvers or above.

In Holland the Guilder or Floren is worth 20^d_∟82 English & the Styver is 1^d_∟041, as may be collected from the preceding\said/ Table of forreign monies. And there the Ducat goes usually for 5 Guilders & about 5 styvers, that is in o^r money for 9^s. 1^d_∟3. At w^ch rate a Guinea is worth 20^s. 6^d $\frac{3}{4}$ .

In the Countries of the Electors of Brandenburg Saxony & Hannover & Dukes of Zell Brunswick Lunenburg Wolfenbuttel & some others places are coyned Guildens or Guilders of one & the same value by consent of the Princes, tho of various allays. This Guilder consists of 16 Gute Groshes or 24 Marien Groshes; and 46 Marien Groshes are accounted the value of an old Rixdoller or 4^s 6^d English. So that a Guilder is worth 2^s. 4^d $\frac{1}{4}$ or thereabouts By the Table it is worth 2^s {illeg}|4|^d $\frac{1}{7}$ according to the weight & assay. Now a Ducat goes in the Countries abovementioned for 3 $\frac{3}{4}$ Guilders, that <104v> is for 8^s. 9^d $\frac{3}{7}$ English & sometimes for two or three Groshes more. If it be valued at 9^s, a Guinea at that rate will be worth 20^s. 4^d.

In the same Countries a Lewid'or is valued at 7 Guilders or thereabouts, that is at 16^s. 5^d. At w^ch rate a Guinea is worth 20^s. 5^d $\frac{3}{4}$ .

At Hamborough the Ducat goes for two Dollars & about 8 or 9 sols lubs or sols of Lubec. This Doller is three Marks lubs that is 48 sols lubs, recconing 16 sols to a mark. But the Cross Doller (w^ch is worth 4^s. 4^d_∟91) goes for 52 sols lubs & therefore the other Doller w^ch goes but for 48 sols lubs is worth 4^s. 0^d_∟84, or thereabouts. The Marks & sols Lubs are there accounted double to the Marks & sols Dans or of Danema{k}|r|k, & the four Mark piece or crown of Da{illeg}|n|emark goes at Hamborough for two Marks lubs, & by the assay of several pieces is worth 2^s. 8^d_∟4. And at this rate three Marks Lubs are worth 4^s. 0^d_∟6. This is the value of the common H{illeg}|am|borough Doll{illeg}|e|r; & two Dollers & nine sols lubs (the value of the Ducat) {illeg}|a|re 8^s. 10^d_∟4. At which rate a Guinea is worth 20^s. 0^d $\frac{1}{4}$ .

At Dantzick Gold is very scare. Their Guilder consists of 30 Gros, & the Bank Doller w^ch is worth about 4^s 6^d goes \for/ three Guilders 23 Gros. Whence the Guilder is 14^d $\frac{2}{3}$ . The Ducat is there valued at about 7 Guilders 12 Gros, or two Bank Dollers wanting four Gros, that is at about 8^s. 10^d_∟09. And at this rate a Guinea is worth 19^s. 11^d $\frac{1}{2}$ .

At Geneva the Hungary Ducat was lately valued at two Ecus & 2 or 3 sols of France, that is at 9^s. 2^d or 9^s. 3^d At w^ch rates a Guinea is worth about 20^s. 9^d $\frac{1}{2}$ . There also the Lewid'or was lately valued at 3 $\frac{3}{4}$ Ecus of France or 16^s. 10^d $\frac{1}{2}$ . At w^ch rate a Guinea is worth 2{illeg}|1|^s. 0^d $\frac{1}{2}$ . But Gold was lately higher in France then at present w^ch might raise the price of Lewid'ors at Geneva. |For there the Spanish Pistole| /was valued only at 3 $\frac{2}{3}$ Ecus or 16^s. 6^d\

At Genoa the Croisat goes for 7 $\frac{1}{2}$ lires & is worth 6^s 6^d $\frac{3}{4}$ , & therefore the Lire of Genoa is 10^d $\frac{1}{2}$ . And there the Pistole is valued at 17 $\frac{1}{2}$ lires that is 15^s. 3^d $\frac{3}{4}$ .

At Florence & Legorn, the silver Ducat goes for seven lires & is worth 5^s. 4^d_∟63 & therefore the Lire of Florence\those places/ is 9^d_∟233. And there & at Leghorn the Pistole goes for 20 lires or 15^s. 4^d $\frac{2}{3}$ & the Lewid'or & Spanish Pistole for \between/ 20 or|&| 21 lires.

|+|

At Naples the Ducat of Silver is worth 3^s. 4^d_∟34. And there the Pistole as I am informed goes for 4 $\frac{1}{2}$ Ducats or 15^s. 2^d & th

At Rome three Iulios make a Teston & the Teston is worth 1^s. 6^d_∟21. And there the Pistole of Italy goes for ten Testons or

<105r>

15^s. 2^d, & the Spanish Pistole for ten Testons & a Iulioo or 15^s 8^d $\frac{1}{6}$

At Ancona in the Gulph of Venice the Hungary Ducat goes for 17 Iulios or 8^s. 9^d_∟4, the Pistole of Italy for 30 Iulios or 15^s 2^d & the Spanish Pistole for 31 Iulios or 15^s. 8^d.

If the Ducat of Venice whose value is set down in the preceding Table, be that Ducat, as I am told, which goes now at Venice for 6 lires 4 sols de Piccoli; the Lire of Venice will be 6^d_∟52. And there the Hungary Ducat w^ch goes for 16 lires will be worth 8^s 8^d_∟32, & the Sequin of Venice which goes for 17 lires will be worth 9^s. 2^d_∟84, & the Pistole of Venice w^ch goes for 28 lires will be worth 15^s. 2^d_∟56.

By all w^ch Gold seems to be lower in Italy then in Franc{e.}

In Spain the Pistole (w^ch before wearing is here worth 17^s. 2^d_∟8) is recconed at gour pieces of eight of {illeg}|18|^s. And in Portugal the Moeda, w^ch is here worth 27^s. 6^d, is recconed at 10 Crusados or 28^s. 7^d_∟1. At w^ch rates the Guinea is worth 22^s. 5^d $\frac{1}{2}$ in Spain & & {sic} 22^s. 4^d $\frac{1}{4}$ in Portugal.

Iuly 1^st 1702

Errors excepted

Is. Newton.

|+| At Rome Florence Legorn Bull{ai}|o|gn & Ancona (a city upon the Gulph of Venice{)} three Iulio make a Teston & the Teston by assay is worth 1^s. 6_∟^d21 & thence the Iulio is 6_∟07^d. Ten Iulios make the Escudi or Ecu of Rome but I cannot yet procure that piece of money for an {illeg}|a|ssay. At Florence three Iulios are two lires & 10 $\frac{1}{2}$ Iulios make the Ecu Ducat & thence the Iulio is 6_∟15^d. Now in those cities the Pistole of Italy goes for 30 Iulios or 15^s 4^d $\frac{1}{2}$ & the Spanish Pistole for 31 Iulios or 15^s. 10^d_∟65 supposing the Iulio 6_∟^d15.

At Bulloign & Ancona the Sequin of Venice goes for 18 Iulios or 9^s. 2_∟7^d & the Hungary Ducat for 17 Iulios or 8^s. 8_∟55^d.

If the Ducat of Venice whose value is set down in the Table &c

At Millain the Piece of Eight went lately for 5 lires 17^sols & the Philip or silver Dducat for 6 lires. So that the Philip is to the Piece of eight (or 4^s. 6^d) as 40 to 39 & therefore is worth about 4^s. 7 $\frac{5}{13}$ ^d. This piece as I am informed goes at Venice for 17 lires 8 $\frac{1}{2}$ lires & therefore the Sequin w^ch goes \at Venice/ for 17 lires is there worth 9^s. 2 $\frac{10}{13}$ ^d, as before.

At Naples the Ducat of Silver is worth 3^s. 4_∟43^d, as before.

By all which gold seems to be lower in Italy then in France the Spanish Pistole being every where worth less then 16^s. At w^ch rate the Guinea is worth less then 20^s

In Spain the Pistole is recconed at four pieces of {8}|e|ight or 18^s w^ch is 9_∟2^d more then in England. And in Portugal the Moeda is recconed at ten Crusados or 28^s. 7^d_∟1 w{^ch is 14^d more} then in England. At w^ch rates a Guinea is worth 22^s. 5 $\frac{1}{2}$ ^d in Spain & 22. 5^d /in Portugal.\

<105v>

In these recconings standard Gold is valued {illeg}|i|n England at 4^li ꝑ ounce as Goldsmiths value it for the melting Pot. The standard value is 3^li. 19^s 8{ $\frac{3}{4}$ ^d.} At w^ch rate about $\frac{7}{8}$ ^ths of a penny are to be added to the value of the Guinea in forreign Countries.

^[1]

I. Stanley

Is. Newton

I. Ellis

^[1] Mint Office
7^th Iuly 1702