602-3)

Author: Isaac Newton

Source: MINT 19/2/589, 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
  - 29 January 2017
    - Transcribed by Will Scott, with retrofitting from MINT00287
  - 10 March 2017
    - Checked by Will Scott
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Related Texts
- This document is a version of:
  'Proposals for preserving and encreasing the Coyn of this Kingdome.' Draft of second appendix to MINT00281 (Mint 19/2/78-9) [MINT 19/2/602-3]

<589r>

Proposals for preserving & encreasing the coyn of this kingdom without hindring y^e freedom of Trade.

For preventing the exportation of more Gold & Silver then is impor{illeg}|t|ed.

Vpon arrival of every merchant ship a Custome house Officer to take an account {illeg}|o|f all Gold & Silver imported therein & enter y^e same w^th y^e exact weight of every species thereof in a Book for that purpose & give y^e Merchant an indented Ticket conteining a copy of y^e said entry cut out from y^e said Book & to stamp all y^e Barrs or Ingots with a stamp for that purpose. All this he shall do gratis.

I{illeg}|f| the Merchant within one year after the date of y^e said entry or Ticket shall bring the said Gold or {illeg}|S|ilver or any part thereof to the Mint to be coyned the Master of the Mint or his Deputy shall gratis enter on y^e backside of y^e said Ticket y^e Species gross weight & standard weight of the Gold {illeg}|o|r silver so brought in & coyned.

And upon delivering back y^e said Ticket at y^e C{illeg}|u|stome-house, the Merchant or his Dep|A|ssignes may within one year after the Date thereof {im}|ex|port the uncoyned Gold or Silver mentioned therein or any part thereof together with any summ of \English/ money not exceeding the standard weight endorsed; paying the charge of coyning the money exported. Wh{e}|i|ch payment shall be kept apart w^th y^e Duty granted by Act of Parliament for encouragem^t of Coynage & together with it be paid into y^e Exchequer & thence imprest to y^e M^r of y^e Mint for the same uses.

The Ticket so deli{illeg}|v|ered back to be filed in y^e Custome house & y^e Exportation entred there w^th y^e species & weight of y^e exported Gold & Silver coynd & uncoyned. And if all the Gold or Silver mentioned in y^e said Ticket be not exported the remainder to be entred & y^e Merchant to have gratis a new indented Ticket of y^e first date for y^e sa{illeg}|m|e. And also for so much as he exports to have gratis a License under y^e hands of four Comm^rs of y^e Customes.

No gold or silver to be exported in Bars|r|s or Ingots or molten masses w^ch have not the Custome house mark upon them, & |to| counterfeit that mark shall be felony.

<589v>

A penalty for impressing that mark upon other gold or silver then such as shall be found in the ship at its first arrival or exporting Gold or Silver coynd or uncoynd without License or shipping the same for exportation.

No gold or silver to be exported out of Ireland unless into England upon pain of And an account of all the Gold & Silver exported thence into England to be {illeg}|s|ent monthly from y^e Cu{illeg}|s|tom house in Dublin to that in London that y^e Officers here may enquire after it.

The Comm^rs of y^e Customes to take annually an Acc^t of all y^e Gold & Silver imported & exported in all o^r {illeg}|p|orts & copies of the summs of every species imported from & exported to every place to be sent to y^e Treary the Council of Trade & y^e Mint. This last might be done by order of Treasury the rest by Act of Parliament.

Such a Law would render Trade free, even freer then in Holland when Bullion exported pays to their Mint. It would save the Merchant the trouble & charge of attending at Goldsmiths Hall w^th his Bullion w^ch discourages him from importing it. It would secure us from y^e exportation of more Gold & Silver then we import much better then we are now secured by Custom house oaths{.} It would put an end to the melting down of o^r silver\money/ for exportation & exporting it by false oaths. It would raise the price of money above that of Bullion as it ought to be by reason of y^e workmanship, & this would incline \the Goldsmith to make plate of Bullion rather then of money &/ y^e Merchant to increase o^r coyn by turning his Bullion into money contrary to what is done at p^rsent by reason of y^e great price of Bullion. It would be profitable to the Merchant by thus lowering the price of Bullion & also by y^e use of his Gold & Silver when turned into money. It would increase o^r coyn as well by y^e Merchants money running ab|m|ongst us till exportation as by what is not exported within the year. And it would be of great credit to the nation by the Merchants exporting their Gold & Silver in the form of English money to be current in forreign nations. For this would make us appear to them more rich & potent then we do at present & thereby recommend \& encourage/ o^r Ministers & Merchants {illeg}|i|n Treaties & Trade. All this would be done w^thout any new charge to y^e Gover{illeg}|n|ment.