Considerations about the valu
esation of Gold & Silver in proportion to one another.
InA Spaininisan Pistole is recconed a was coyned for 33 Reaus or four
Pieces of Eight Reaus, th part of the weight thereof & of equallike allay
A Doppia Mœda or Moyder of Portugal was coyned for 4000 Res or
ten Crusados & in the 16th part of the weight thereof & of Equallike allay.
Gold is therefore of sixteen times the valuby the standars of Spain & Portugal of
sixteen times more value then silver of equal weight & like allay. according
to their Standard. And at this rate a Guinea is of equal value with
so much fine silver as is conteined in 212s. 1d English money of just weight
& allay. & AndNow this high value of Gold carries away the
as it comes from the west Indies, & the scarcity of Silver in Spain that kingdom. put them upon making their paymtspayments
at home in Gold & refusing to pay in silver without a premium of 5 or 6 per
cent: at wchwhich rate a Guinea is worth about 20.s 9.d or 10d.
In France by the Edict of May 1709 a new Lewidor iswas coyned for 20 livers or 4 new Lewises
& is the fifteenth part of the weight thereof of equal allay And And by the same Edict fine Gold is valued at 15 times its weight of fine Silver. . At wchwhich rate
a Guinea is worth 20s 8d. And by the same Edict fine Gold is valued at fifteen times its weight of fine silver.
A Ducat of Holland & the Empure {not a Hungary Ducat of Cremnitz) is current in Holland at 5 Guilders & 5 stivers, that is, at so much fine silver as is conteined in 9s 1d English. At wchwhich rate a Guinea is worth 20s 7d. In Ita
According to the rates of Gold to Silver In Italy Germany & the northern Kingdoms, w[the fine Gold in ] a Guinea may be worth so much fine Silver as is conteined in 20s 4d/, 5d 6d, 7d 7d or 8 for the proportion varies a little in thea little in the several Principalitiesgovernments of those regions ofwithin those regions counties.
In England therefore, that Gold & silver may keepkeep the same proportion to one another as in the neighbouring parts of Europe, a Guinea should be valued at 20s 7d or 20d or 20s 8d or thereabouts. And if sixpence
Quare. I. Is it not the Interest of England to take of 6d from the Guinea, or about? NB. 1 The sixpences coyned 18 years ago are lightned about 4 per cent by wearing. The shillings then coyned are lightned about 2 per cent, the half crowns about 1, & the Crowns about per cent. And thereby the old six pences & shillings are pretty well secured from the melting pot, & from being exportaled by the Merchants
2 The new French Gold moneys are coyned coarser then they ought to be by about 1 by their standardthe Kings Edict by about 1 per cent. And this is so much loss to the subjects of France who export Gold into England. But the high price of Gold in England makes them a tripple reia or pence.
Qu. 2. If this be not done; Whether oughtwill not men that have silver, to begin to soon to refuse to make payments therein without a premium of 3, 45 or 78 per cent ot an half penny in the shelling?
In Italy & Germany & Italy & Poland about 14 years ago, the Gold was to silver of equal weight & fineness as 14 or 14 to 1 or thereabouts. And at this rate a Guinea was worth about 20s 6d or 20s 1dthere worth about 20s 56d or within 2d over or under
In Germany & Italy Gold is valued something lower the in France & Holland.
✝And if 6d were taken from the Guinea, yet Gold would be still higher in England in proportion to silver then in any other part of Europe.