Draft of MINT00499 (Mint 19/2/236v)

<230r>

To the R^t Hon^ble the Earl of Oxford & Earl Mortimer Lord H. Treasurer of great Britain.

May it please yo^er Lord^p

According to yo^er Lord^ps Order signified to me by M^r Secretary Harley'{n}|s| his Letter of Feb. 26 instant, I have considered the Letter of his Grace the Duke of Ormond her Ma^ts Leiutenant General & General Governour of Ireland sent to yo^er Lord^p, together w^th the Representation sent to his Grace from y^e Lords of her Maj^ts most hon^ble privy Council of that Kingdom, proposing the making current there by Proclamation several pieces of forreign Gold therein named in order to prevent the counterfeiting thereof by making the crime high Treason. And I humbly represent that the Moyders of Portugal one w^th another weigh 165$\frac{1}{2}$ grains as they are brought \hither/ by the Merchant & are a quarter of a grain better then standard, but the Spanish & French gold coins are half a grain worse then standard & the double Pistoles & Lewises weigh one w^th another a grain or two above 204 grains. And at y^e rate that a Guinea is valued here at 1^£ 1^s 6^d, the value of the forreign coins is as followeth:

The quadruple Pistole of Spain weighing 410 Grains is worth 3^£. 8^s. -

The double Pistole of Spain weighing 205 grains is worth 1^£ 14^s -

The double Lewid'or weighing 205 grains is worth 1^£ 14^s -

The quarter Spanish Pistole weighing 25 $\frac{5}{8}$ grains is worth 4^s 3^d.

The quarter Louid'or weiging 25$\frac{5}{8}$ grains is worth 4^s 3^d.

The Moyder of Portugal weighing 165$\frac{1}{2}$ grains is worth 28^s 8^d.

The half Moyder weighing 82$\frac{3}{4}$ grains is worth 14^s 4^d.

The quarter Moyder weighing 41$\frac{3}{8}$ grains is worth 7^s 2^d.

But if the value of the forreign gold coins be raised in Ireland in such a proportion that a double Spanish Pistole & a double French Louis may pass there for 1^£ 17^s & other Spanish & French pieces in proportion, then the value of the pieces may stand as in the memorial Representation excepting that the Moydel weighing 165 grains must be valued only at 20^s the half Moyder whei|eig|hing 82$\frac{1}{2}$ grains must be valued at 3{illeg}|15|^s, |&| the |q|half|uart||er| Moyder weighing 41$\frac{1}{4}$ grains must be valued at 7^s 6^d. And at this rate a Guinea ought to pass in Ireland at 23^s 4^d. For if a higher value {illeg}|b|e \there/ put upon forreign \the gold/ coins of forreign Princes then upon her Majesties gold coins it encourages t{illeg}|h||e| recoining of her Maj^ts gold moneys in forreign Mints for the use of Ireland. And counterfeiters of the coin in Ireland may make a \good/ profit by recoining Guineas into Pistoles & Lewid'ors of good gold.

In the reign of K. William the Scots put their Crown pieces in the northern borders of England at 5^s sterling & their other silver coins in proportion, tho a Scots crown was worth but 4^s 6^d. By this means the northern borders of England began to abound with Scots money & Scotland w^th English money; w^ch afforded a profit of about ten per cent by recoining the English money in Scotland, till the Officers of the Mint gave notice thereof to the Lords Comm^ers of the Treasury, who thereupon put a stop to the currency of the Scots money in England.

At that time Lewidors \& Pistoles/ passed here at 17^s 6^d a piece, w^ch over value brought in so great a number of those forreign gold coins that when the Officers of the Mint gave notice thereof to the Lords Comm^ers of the Treary & the late King issued out a Proclamation that those pieces should go but at 17^s a piece, there were coined in the last year of his reign & the first year of her Maj^ts reign, above twelve hundred thousand guineas out of those forreign coins. And all this gold came in by the encouragement given to the Merchant to turn English silver into forreign gold. And if forreign gold be raised <230v> thrice as much in Ireland, it must increase this effect.

I do not fully know the present state of the coins in Ireland, but I am humbly of opinion that this matter deserves to be well examined before any thing be done in it, & for that end may be referred to the Comm^ers of Trade it yo^er Lord^p thinks fit.

All w^ch is most humbly submitted to yo^er Lord^ps great wisdome

                                        Is. Newton

But if some allowance be made for culling & wearing & on that account a Pistole & Lewid'or be recconed (at a medium to weigh 102^gr & a Moyder 165^gr, the & a Guinea be valued in Ireland at 23^s

And After y^e rate that a Guinea is valued in Ireland at 2{illeg}|3|^s, {illeg} a {illeg}|S|panish pistole weighing 102^grains is \there/ worth 18^s 2^d$\frac{1}{4}$, {illeg}|A| French Louidor is worth weighing 102^g is worth 18^s 2^d$\frac{1}{4}$. & at Moyder of Portugal weighing 165$\frac{1}{4}$^gr is worth 29^s{illeg}|6|^d, & the quadruple, double, halfs & quartes|r|s of these pieces in proportion. But if a Pistole & Lewidor pass already p|b|y Proclamation {illeg} at 18^s 6^d & cannot conveniently be brought down to 18^s 2^d, & (for its improper for forreign coins to pass in Ireland at a higher rate then her Maj^ts money in proportion to their intrinsic values) the rates of the Spanish & French coins may stand \in a new Procl./ as in the Representation, & the Portugal coins be set down in new \a/ Proclamation\therein/ as follows.

- The Moyder weighing 165^gr at 29^s 6^d

- The half Moyder weighing 82{illeg}|K.| ^gr \& {one} half/ at 14^s 9^d.

- The quarter Moyder weighing 41|$\frac{1}{4}$|grains & a quarter at 7.^s 4^d|$\frac{1}{2}$| half penny

All w^ch &c