The liberty of melting of forreign Moneys into Ingots in private shops & houses for Exportation gives Oppertunity of melting down the English Money into Ingots for the same purpose for restraining of which a Law might be usefull against Exporting any Ingots of Silver melted down in England except in a publick office to be appointed or erected for that purpose.
The Law by barring the Exportation of forreign Silver after it is Coyned prevents the Coynage thereof because the Merchant Cannot afterward export it & tends to discourage the bringing of Silver into England because the Merchant can make no use of it whilst it stays here in the form of Bullion the bringing of Silver to the Market of England and the turning it into monies should rather be encouraged as the proper means of encreasing the coyn, Silver being more apt to stay with us in the useful form of money then in the useless form of Bullion and encreasing the Coyn whilst it stays with us If the merchant might export what he coyns some part of what he coyns would be apt to be laid out here. And this Liberty may be allowed him after some such manner as is Expressed in the Scheme hereunto annexed
The Licensing the exportation of Bullion whilst the exportation of the money is prohibited makes silver worth more uncoyned then coyned and thereby not only stops the Coynage but causes the melting down of the money in private for exportation. For remedying this mischief it may be perhaps better on the contrary to prohibite the exportation of Bullion and License that of money and when ever the money is in danger, to Licence the exportation of so much money only as shall be coyned from time to time out of forreign Bullion
