<363r>

Minutes for
An Act for further encouragement of Coynage.

In consideration of ye advantages wch may accrue to ye East India Company by this Act by lowering the price of Bullion & permitting the exportation of money & principally for encouraging the importatio{n} of Gold & Silver in lieu of ye great quantities exported by them & \for or toward/ paying th{illeg}|e| charge of \coyning/ so much as they shall export in {illeg} English coyn, they the said Company shall annually pay to the Master of ye Mint at ye Feast of his Office i{illeg}|n| ye Tower of London upon the Feast of                      the summ of          thousand pounds.

|{3}|2|| For encouraging the Importation the Importation of Gold & Silver to be coyned in England.\of Gold & Silver to be coyned/ |in England|

The East Inda|i|a Company to pay annually into ye Master of ye Mint\Custome house/ upon ye Feast               \or wthin ten days after/ the summ of                thousand pounds as an addition to ye Coynage Duty for defraying the charge of coynage, & to see ye same entred in the Leger Books of ye Warden Master & Comptroller \& Kings Clerk/ of ye Mint to charge the Master withall\the first payment to be made upon ye {sic} said Feast/ & in default of paymt ye said summ to be \speedily/ seized in any of their ships by Warrant of the Commrs of ye Customes. And The|i||s| said|um||m|        thousand pounds to be set apart wth the Duty|ie||s| {illeg}|g|iven for encouragemt of coynage & paid into ye Excheqr & thence to ye Mr of ye Mint for ye same uses. And in {illeg}|co|nsideration of the said Annuity the East India company to pay but half ye charge of the coyna|i|ng what monies they export.

The law would encourage ye Merchant to bring his Bullion from Spain to ye Market in England rather then carry \it/ directly to ye Indies {&} be stampt wth where the coynage will cost \at least/ twice as much as the exportation of money |f|in|ro||m| England. And the more Gold & Silver\Bullion/ flows t{illeg}|o| or market the more money will stay with us, & the more will or coyn be propagated abroad to ye honour of the nation.

© 2024 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 - newtonproject@history.ox.ac.uk

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