To the Rt Honble the Lords CommrssCommissioners of his MajtiesMajesties TrearyTreasury.

May it please yoryour LordpsLordships

In obedience to yoryour LordpsLordships commands that we should give orour opinion whether Pistoles ought to be valued in MarksEngland by comparing them with our new coynd monies of due weight & fineness as we do Bullion or by comparing them with the current cash of the nation wchwhich by wearing is grown lighter then standard we have areconsidered the matter & humbly representrepresent orour opinion that the Par of Exchange between the monies of two several nations is to be adjusted by consideringconsidering considering the monies of both nations as Bullion witheld & comparing them by the A weight & assay without any regard to the stamp of the monies or standard of either nation. bBut in valuing the monies in the Markets of a singleone & the same nation (wchwhich is the prresent case) the money of that nation wchwhich haveing there a currency by theirit stamp areis not to be considered as bullion byut valued at what they wereit was coyned for altho by wearing theyit be grown lighter then standard,. because by their stamp they have a currency by their stamp. But And the monies of other nations wchwhich have not there a currency by their stamp are to be considered as bullion & valued only by their weight & fineness. And therefore Pistoles in therefore in yethe markets of England are to be valueddconsidered as bullion & valued by comparing them with our ownEnglish money of due weight & allay wthwithout making any allowance or abatement for yethe wearing of yethe current cashlightness of yetheorour coin by wearing.

In our last memorial we valued Pistoles one wthwith another at 17. 1d or thereabouts. This value we gathered from their weight & fin assays finding them one wthwith another to weigh 4dwt 7$\frac{1}{4}$gr & to be worse then standard $\frac{1}{3}$ of a grain or thereabouts. But [These assays were made in the Mint of old Pistoles made by orour Assaymasters some years ago,] but by many assays made yethe last week & this we find [that yethe Pistoles lately coyned are of coarser allay than the old ones so as so as to be about $\frac{2}{3}$ or $\frac{3}{4}$ of a grain worse then standard. And this brings down the value of Pistoles to 17s. & $\frac{1}{3}$ of a penny or thereabouts one with another.one with another. Certainly they are not worth less than 17s. 1d. & they are worth above& more then 17s16s. 11d$\frac{1}{2}$ If the a point heaviest be culled out those may be worth 17s 1d$\frac{1}{2}$ but I reccon ymthem one with another as they go in the market by tale without culling, for if the heaviest be culled out those may be worth 17s 1d$\frac{1}{2}$ a piece or 17s 2d a piece, & if the lightest be culled out those may not be worth 16s. 1011d.