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The production of German tin has been much reduced by the conscription of miners for the war. Imports from Asia have also dropped considerably. Strongly advises against raising the price, however, as this will only be an incentive to the Germans and Dutch to revive production. Cites the example of artificially high sugar prices maintained by the English 1695-1703, which moved the Dutch to a massive increase in sugar importation from Surinam at a lower price, and to plant Java with sugar, with such success that they now look set to ruin the English plantations. The [Dutch-controlled] tin mines of Siam and Malacca are larger than the Cornish ones and yield better tin, so it would be unwise to risk a repetition.
Note
[Writer and approximate date deduced from an obvious reference to this report in Newton's letter to Treasurer Godolphin of 23 September 1706 in T. 1/99.97, MINT00949 (NC, 4: 478-80).]