Draft of MINT00270 (Mint 19/2/139)

<143r>

To the R^t Hon^ble the Lords Comm^ers of his Maj^ts Treary

May it please yo^r Lord^ps

The great value put upon French & Spanish Pistoles in England has made them of late flow plentifully hither above all other sorts of Gold especially the French Pistoles w^ch are better sized & coyned & less liable to be counterfeited \& by consequence of more credit/ then the Spanish. For Pistoles pass amongst us for 17^s 6^d a piece whereas one with another they are worth but abiut 17^s 0$\frac{1}{2}$^d or 17^s. 1^d at the rate that Guineas of due weight & allay are worth 21^s. 6^d. And the|if| allowance be made for the lightness of o^er silver monies by the melting down of the heaviest pieces & wearing of the rest, yet Pistoles will be worth between 17^s 2^d & 17^s. 3^d.

About four years ago by the English putting too great a value upon Scotch money the Northern borders of England were filled with that money & Scotland was filled with o^ers the Scots making about 8 or 9 p^r cent profit by the exchange untill yo^r Lord^ps \were pleased to/ put a stop to the mischief. The case being now the same \(but of more|uch| dangerous\greater/ consequence)/ in the reputed p|P|ar of y^e Exchange between o^er\English/ money & Pistoles, whuch runs 3^d or 4^d in a Pistole \too high/ to y^e nations loss \in the course of {illeg} Exchange/; we \therefore thought it o^er duty to/ humbly |to| represent it to you^r Lord^ps in order to such a remedy as yo^r Lord^ps shall think fit, [so that when y^e exchange between us & forreign nations runs on o^er side as at p^resent we may not lose o^er advantage by it & when it runs against us we may not lose more by it then is necessary.

We presume also to lay before yo^r Lord^ps that by reason of the great demand of silver for exportation \in Trade/, the price of Bullion exceeds that of silver monies by 3^d or 4^d and sometimes by 6^d or 7^d p^r ounce, whereas the monies ought to be of as great or greater value then Bullion by reason of the workmanship \& certainty of y^e standard/. And this high price of Bullion has not only put an end to y^e coynage of silver is y^e|a| great temptation to the\occasion of/ melting down and exporting what a||\has been/ already coyned. A mischief of such consequence as may deserve yo^r Lo^ps |consideration of a remedy All w^ch is most humbly submitted &c to yo^r Lord^ps consideration & great wisdome.|