Draft of <ref target="/catalogue/record/MINT00314">MINT00314</ref> (Mint 19/2/172) Isaac Newton c. 395 words Newton Project London 2019 Newton Project, University of Oxford

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 Early October 1712, c. 395 words. On differences between the customary par and the current rate of exchange between English and French money at Dunkirk, and what proportion of the loss should be born by the Crown [MINT 19/2/172] MINT 19/2/158, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/2/158 Early October 1712 England English Holograph Unknown Hand MintEconomic Theory and Legislation Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young Catalogue exported to teiHeader by Michael Hawkins Transcribed by Kees-Jan Schilt

In the course of Exchange 10 9£ nine pounds sterling are recconed in Holland at a par wthwith 100 Gilders in Hollandspecie money of Holland or 1£ with 1119 Gilders 11G 229 stivers. But 1£ stelingsterling lately passed in Holland only for 10G & 9 or 10 stivers or at a medium for 10G 912 stivers. The defect is 1210 1318 styvers, whereof her MatyMajesty allowed to yethe forces in Flanders 512 styvers.

The par between English & French money of yethe new species is not yet setled by the course of Exchange, byut by weight & assay I find that an newunworn French Crown piece of the new species wchwhich passes in France & at Dunkir for 5 livres is worth 5s 1d stelrling & at this rate 20s English passe isare worth 19livrs 132761 sous, b. But 20s English passes at Dunkirk for only 17 livres. The defect is 2livres 132761 sous . And as the defect 121318 stivers in the former case to 512 st her Majesties to 512 stivers allowance 512st in the former case, so is the defect 2 livers 2761 132761 sous toso are 2 livres 132761 sous to 23 sous wchwhich added to 17 livres makes her Maj her Majesties proportional part of yethe defect. By this recconing therefore her MajtsMajesties Allowance to yethe forces at Dunkirk for 20 shillings sterling willshould be 198 livres 3 sous recconing a French crown new species at 5 livres. But her MatyMajesty may increa alter the proportion at pleasure. When 9£ sterling are recconed at a par wthwith 100 Gilders specie specie moneyas above, the specie money of Holland is overvalued by about 314 per cent For a three Gilder pieces new tunworn isare worth only 6234 pence by the weight & assay. And thence 9£ sterling are intrinsecally worth about 10314 Gilders And if a recconing was grounded upon this intrinsic value of the Dutch money her MajtsMajesties allowance over & above 17 livres would be only 15 sous. But the rules of Exchange where they are setled being generally followed by all nations I have followed them in the recconing I have set down & being the rules (as I conceive) by wchwhich her MatyMajesty made the late allowance to her forces in Flanders I have followed them in the recconning above set down for Dunkirk. I. Newton 158