<202r>

Sr Lambert Blackwell & I are agreed of opinion that eight or nine hundred thousand Mexico \or Sevil/ Dollars may be that will may be received at Port Mahon by tale |[|& by the weight of the whole & an account be taken by persons deputed on both sides.|]| And that interest may be allowed at ye rate of five dollars pr cent per an to be paid half yearly.|,| The pay & the principal repaid \by tale |[|& weight|]|/ in the like dollars at ye end of two years: but if the {illeg} & {illeg} the weight of the whole.\. For Mexico dollars are pretty equal in their weight, being one with another 17{w{illeg}|t|} & 10 or {illeg}|12|{illeg}|gr|, as they come from Mexico./ And if But in default of such Dollars we are not yet agreed how the payment \|of th|of|e| surplus/ shall be made up in other {illeg} moneys or Bullion.

If the paymy|e|nts are to\|m|is|ay|/ be made in the same standard weight of the silver received, then the \whole/ weight of soe many the Dollars received at Mexico Port Mahon must be taken by persons deputed on both sides, & the same \& the weight of the Dollars paid must be deducted & the residue/ must be reduced to standard, recconing Mexico Dollars to be 11oz 1dwt fine: And th{illeg}|e| standard weight |must| be repaid in bullion at Genoa.|,| But because Mexi & this would be most for her Majts advantage. But considering the charge of coinage to turn the bullion into current Money & considering also that {illeg} Mexico or|&| Sevil Dolars {sic} are\may be/ worth more to the Merchant at Genoa then bullion of the same standard weight, it is doubted whether the Geouise {w}{illeg} \will/ take less bullion then what may be there of equal value to the Merchant then so much {illeg} money in Dollars.

Vpon a|\the annexed/| proposal shewed {me}\shewed me by Sr L. Blackwel/, by yor Lordps order about borrowing \100000 Mexico Dolars\Mexico Dollars// of the republick of Genoa to ye vallue of\for stating setling/ the value of Mexico Dollar Dollars to be borrowed of the republic{illeg}|k| of Genoa\received at Port Mahon/: I humbly represent that those Dollars are 11oz 1dwt fine & \weigh/ 1712dwt \one wth another/ when fresh out of the mint, & are {illeg}|th|en worth 4s 6d a piece & o|i|f a grain or two be abated for wearing {illeg}|th|ey will be worth \about/ 4s 5d{illeg}56: {illeg}|A|t wch rate\a piece/ And in this valuation Sr Lambard agrees wth me: for he tells me that 1000 Dollars of this sor{illeg}|t| {illeg}|a|re found by merchants to weight 872 ounces Troy wthin an ounce or two over or under: & at this rate a Dollar weighs 17dwt 1{illeg}|0|gr12. If at a medium. If

I{illeg}|f| an eaven {illeg}ber of \the/ Dollar

Sevil Dollars fresh {illeg}|out| of the Mint \old Plate/ were \formerly\formerly// worth 4s 6d a piece \fresh out of the Mint/ but are now much diminished by we{illeg}|arin|g, the Spaniards about 25 & the Sevil Dollars new Plate are of a lighter species being w|or|th but 3s 7d a piece. or 3s 714d a piece. The Pillar pieces of 88 are finer but more worn then the Mexico.|,| The |& but few in number, the Peru pie\ces/| /are coarsest & most worn & diminished.\

If|A|fter the Mexico Dollars are told {illeg} out of the baggs they may be weighed by a thousand at a draught for ascertaining the|is| value more exactly, & an account may be taken of them by persons deputed on both sides & weights by wch they are weight|e|d to \may be/ compared exactly wth out weights Troy by the same persons.

If an eaven number of Dollars suppose eight or nine hundred thousand be borrowed: the interest at 5 per cent may be recconed \also/ in dolla{rs} & both interest & {illeg}|pr|incipal paid either in Dollars or in bullion at such a rate {illeg}|as| shall be agreed upon.

© 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

Privacy Statement

  • University of Oxford
  • Arts and Humanities Research Council
  • JISC