Holograph draft memorandum on the value of the dollars after recoining

<199r>

[Editorial Note 1]{illeg} be worth 4s 6d a piece one wth another {illeg} worth so much by one thid per cent.

{illeg}re recconed{illeg} one with another 11 ounces one penny weight fine {illeg}ces of K. Charles are one with another {illeg}.

{illeg}nd by{illeg} A pound weight {illeg}er weight of Mexico pieces of eight are one per cent better in value then the same weight of two Ryal pieces of K. Charles.

A pound weight Tory of two Ryall pieces areor any other weight of English money is to a in value a pound weight of two Ryall pies as 64 to 63.

A pound weight Troy of two Ryal pieces is wotrth 3£. 1s. 0d$\frac{\mathrm{1}}{\mathrm{2}}$$\frac{\mathrm{1}}{\mathrm{8}}$ English &

A two Ryal piece is a quarter of a piece of eight. ButBut The Spaniards want 25 years raised the value of their coin in the proportion of fou of four to five & therefore a two Ryal piece new plate is a fift p a fift part of a {illeg} piece of 8 old plate. And after this recconin rate 800000Mexico pieces of 8 should produce five times that number of two Ryal pieces new plate that is 4000000 pie two Ryal pieces{illeg} of equal fineness.

But the two Ryal pieces of K. C. are in fineness one per cent wors the the the {sic} Mexico pieces & therefore the 800000 Mexico pieces of eight eight of just weight of just weight should produce 4040000 two Ryal pieces supposing that of just weight supposing the pieces of 8 one wth another to be five times heavier then the two Ryal pieces.

If the two Ryal pieces of K. C. one with another weigh 3dwt 9gr (as those four d{illeg}d wch I have examined) & the Mexico pieces of eight weighed 17dwt$\frac{\mathrm{1}}{\mathrm{2}}$ as they ought to do the

A thousand mexico pieces OF 8 should weigh new coined & brought fresh from America by the Merchant should weigh 875 ounces Troy but they are usually found by the Merchant to weigh but 872 ounces Troy & {illeg}this should be the wight {sic} of 5000 two ryal pieces, & therefore a two Ryal piece should weigh 3dwt 11$\frac{\mathrm{712}}{\mathrm{100}}$ Gr. / But 4 f 4 two-ryal pieces examined by me weighed only 13dwt 12gr at wch rate 843 $\frac{\mathrm{3}}{\mathrm{4}}$dwt {illeg}5000 weill weigh but {illeg}3dwt 15{illeg} 843$\frac{\mathrm{3}}{\mathrm{4}}$ {illeg} ounces. I say therefore by the Rule of three & 50 of them will weigh 18oz 5dwt 5gr {sic} [ And so much as they are too light so much they number of them must be increased. I say therefore by ye rule of three, As 843$\frac{\mathrm{3}}{\mathrm{4}}$ to 872 so is 404{illeg}0000 to {illeg} {illeg} And 50 50 of them will weight {illeg} 5dwt {illeg}gr to a fourth number 4175265 which should therefore be the number of two Ryal pieces coyned out of 800000 Mexico pieces of eight, Supposing that 1000 pMexico pieces weigh 872 ounces., But if assumed that 500& that The two Ryal pieces one with another weigh {illeg} 3dwt 9gr 3d{illeg}wt 9gr {sic} T Two-ryal pieces are of the same weight [But if {illeg}1000the pieces of 8 were heavier or the two lighter in {illeg} the number of two Ryal pieces must be increased or diminished in the sam{illeg}e proportion & if the the two Ryal pieces wereupon examination prove lighter or hevavier {illeg} their number must be again increased or diminished in the same proportion.

I am of opinion therefore that the Gentlemen who are going as Commers from her Majty into Spain, do carry with them a pound weight Troy which ounces {illeg}penny weights & grains exactly made, & compare or wch thise wei Spanish pound weight used in their Mint. And if they can meet with the weight of the 800000 pieMexico p& Pillar pieces of 8 entred in any Books in Spain: by the proportion {illeg}of the Spanish pound Wt to the English pound weight it they will know the weight of othe 800000 Pieces of 8 in {illeg} English weightounces Troy, & thereby they will know also {illeg}the weight of a thousand peices of eight in the same ounces. And if this weight be 872 ounces Troy or within an o bet o within {illeg}an ounce or two over or under, they may conclude that it has been weighed fairly. [And for every ounce that it is over or under that weight they must And if add or subduct 4633 to or from the number 4040000 & they will have the number of two-ryal pueces wch should have been coined out of the 800000 pieces of 8.] The Spanish pound in weight for gold & silver consists of sixteen ounces, & an ounce weighs about 443 grains Troy.

<199v>

[Editorial Note 2]

A spanish pound w The pound weight T{illeg}{illeg}& this ounce weighs about 443twelve ounces & this{illeg} 40 And English ounce {illeg}{illeg} Englandounce containes 480 grains{illeg} Spanish ounce for weighing of {illeg} & 16 ounce{illeg} Gold & Silver in Sthat k{illeg} as cCommissioners from {illeg} them a pound weigh {sic} Troy {illeg} sthey seelttle the proportion{illeg} ours more exactly t{illeg} then I am.

The pound Troy for weighing of gold & silver in England conteins 12 ounces & every ounce 480 grains, & about 4{illeg} of these grains make the ounce & 16 ounce the pound sp{illeg} for weighing gold & silver in Spain. If the Gentlement who are going Commers f{illeg}rom her Majty forinto Spain should cary with them a pound Troy with ounces penny weights & graains exactly made, they may settele the proportion between English & Spanish weights more exactly, [& by this proportion they may know the we examin the weight of {illeg} spanish m If the weight of the Mexico 800000 Mexico pieces of eight or of any certain be entered in any books in Spain

If the Gentlemen &c & by means of this proportion they may examin whether 1000 of the Mexico peices of 8 weigh 7872 ounces English Troy & the {illeg} the new pieces of 8 one wth another weigh 3dwt 9gr.

For if the {illeg} weight of the 800000 Mexico & Peru pieces of 8 be entered in any of or of any other certain number of them be entered in any books in Spain, by the proportion between the Spanish & E the Rule of three of three {sic} will give the weight of a 1000 iof them in Spanish ounces, & the proportion between the Spanish & English ounce will give the weigh {sic} of 1000 in English ounces. And if this weight prove to be 872 ounces English or within an ounce or two over or underof that weight over or under, it may be concluded that the pieces of eight have been justly fairly weighed delivered weighted between the Merchant & the Queen & the Merchant. But if the error be above two or three ounces, the matter will deserve to f be enquired into. There has been either an error in the deliveryweighing or in the entring or in the proportion between the Spanish & English weights

I have only weighed four piesces of two ryals & they are so unequal in their {illeg}weight that it will be convenient to weigh a pound weig a greater number. {illeg} If a single pieces one with another weigh 3dwt 9gr (as the four did wch I weighed) sthen seventy & one of them will weigh a hundred of them will weigh 16oz 17dwt 12gr. Let therefore a hunded {sic} of them be weighed by English weights, & if not, then let the excess or defect be noted. And if another hundred be whe weighed & after that a third hundred, to see how the weights agree, & a medium be taken the determination will be exacte{illeg}d.

Having found the weight of a t{illeg}housand Mexico pieces of eight & of a hundred Two-ryal pieces. for every quarter of an ounce by wch the weight of a thousand exceeds Mexico pieces exceeds or falls short of 872 ounces add to the number 404000417526 <200r> or subduct from it the number 1197 & on the contrary for every grain by wch 100 Two ryal pieces exceeds or falls short of 16oz 17dwt 12gr subduct or add or subduct 4 5145$\frac{\mathrm{1}}{\mathrm{2}}${illeg} ye number wch results will be the will be the number of of {sic} Two ryall pieces wch ought to be produced out of the 800000 pieces of eight.

Out of this summ the seniorage is to be paid for coinage. What ye seigniorage is in that Mint I do not know.