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 the freedom of Trade.

For preventing the exportation of more Gold & Silver then is imported.

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

If the Merchant within one year after the date of the said entry or Ticket shall bring the said Gold or Silver or any part thereof to the Mint to be coyned the Master of the Mint or his Deputy shall gratis enter on the backside of the said Ticket the Species gross weight & standard weight of the Gold or silver so brought in & coyned.

And upon delivering back the said Ticket at the Custome-house, the Merchant or his Assignes may within one year after the Date thereof export 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. Which payment shall be kept apart with the Duty granted by Act of Parliament for encouragement of Coynage & together with it be paid into the Exchequer & thence imprest to the Master of the Mint for the same uses.

The Ticket so delivered back to be filed in the Custome house & the Exportation entred there with the species & weight of the exported Gold & Silver coynd & uncoyned. And if all the Gold or Silver mentioned in the said Ticket be not exported the remainder to be entred & the Merchant to have gratis a new indented Ticket of the first date for the same. And also for so much as he exports to have gratis a License under the hands of four Commissioners of the Customes.

No gold or silver to be exported in Barrs or Ingots or molten masses which 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 sent monthly from the Custom house in Dublin to that in London that the Officers here may enquire after it.

The Commissioners of the Customes to take annually an Account of all the Gold & Silver imported & exported in all our ports & copies of the summs of every species imported from & exported to every place to be sent to the Treasury the Council of Trade & the 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 with his Bullion which discourages him from importing it. It would secure us from the 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 our 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 the workmanship, & this would incline the Goldsmith to make plate of Bullion rather then of money & the Merchant to increase our coyn by turning his Bullion into money contrary to what is done at present by reason of the great price of Bullion. It would be profitable to the Merchant by thus lowering the price of Bullion & also by the use of his Gold & Silver when turned into money. It would increase our coyn as well by the Merchants money running amongst 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 our Ministers & Merchants in Treaties & Trade. All this would be done without any new charge to the Government.