Draft of MINT00287 (Mint 19/2/602-3)

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Minutes for
An Act for further encouragement of Coynage.

In consideration of ye advantages wch may accrue to ye East India Company by this Act by lowering the price of Bullion & permitting the exportation of money & principally for encouraging the importation of Gold & Silver in lieu of ye great quantities exported by them & for or toward paying th{illeg}e charge of coyning so much as they shall export in {illeg} English coyn, they the said Company shall annually pay to the Master of ye Mint at ye Feast of his Office i{illeg}n ye Tower of London upon the Feast of                      the summ of          thousand pounds.

32 For encouraging the Importation the Importation of Gold & Silver to be coyned in England.of Gold & Silver to be coyned in England

The East Indaia Company to pay annually into ye Master of ye MintCustome house upon ye Feast               or wthin ten days after the summ of                thousand pounds as an addition to ye Coynage Duty for defraying the charge of coynage, & to see ye same entred in the Leger Books of ye Warden Master & Comptroller & Kings Clerk of ye Mint to charge the Master withallthe first payment to be made upon ye {sic} said Feast & in default of paymt ye said summ to be speedily seized in any of their ships by Warrant of the Commrs of ye Customes. And Theis saidumm        thousand pounds to be set apart wth the Dutyies {illeg}given for encouragemt of coynage & paid into ye Excheqr & thence to ye Mr of ye Mint for ye same uses. And in {illeg}consideration of the said Annuity the East India company to pay but half ye charge of the coynaing what monies they export.

The law would encourage ye Merchant to bring his Bullion from Spain to ye Market in England rather then carry it directly to ye Indies & be stampt wth where the coynage will cost at least twice as much as the exportation of money finrom England. And the more Gold & SilverBullion flows t{illeg}o or market the more money will stay with us, & the more will or coyn be propagated abroad to ye honour of the nation.