Draft of MINT00314 (Mint 19/2/172)

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In the course of Exchange 10 9£ nine pounds sterling are recconed in Holland at a par wth 100 Gilders in Hollandspecie money of Holland or 1£ with 11$\frac{\mathrm{1}}{\mathrm{9}}$ Gilders 11G 2$\frac{\mathrm{2}}{\mathrm{9}}$ stivers. But 1£ steling {sic}sterling lately passed in Holland only for 10G & 9 or 10 stivers or at a medium for 10G 9$\frac{\mathrm{1}}{\mathrm{2}}$ stivers. The defect is 1210 $\frac{\mathrm{13}}{\mathrm{18}}$ styvers, whereof her Maty allowed to ye forces in Flanders {illeg} 5$\frac{\mathrm{1}}{\mathrm{2}}$ styvers.

The par between English & French money of ye 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 wch passes in France & at Dunkir {illeg} for 5 livres is worth 5s 1d stelrling & at this rate 20s English passe isare worth 19livrs 13$\frac{\mathrm{27}}{\mathrm{61}}$ sous, b. But 20s English passes at Dunkirk for only 17 livres. The defect is 2livres 13$\frac{\mathrm{27}}{\mathrm{61}}$ sous {illeg}. And as the defect 12$\frac{\mathrm{13}}{\mathrm{18}}$ stivers in the former case to 5$\frac{\mathrm{1}}{\mathrm{2}}$ st her Majesties to 5$\frac{\mathrm{1}}{\mathrm{2}}$ stivers allowance 5$\frac{\mathrm{1}}{\mathrm{2}}$st in the former case, so is the defect 2 livers $\frac{\mathrm{27}}{\mathrm{61}}$ 13$\frac{\mathrm{27}}{\mathrm{61}}$ sous toso are 2 livres 13$\frac{\mathrm{27}}{\mathrm{61}}$ sous to 23{illeg} sous wch added to 17 livres makes her Maj her Majesties proportional part of ye defect.

By this recconing therefore her Majts Allowance to ye forces at Dunkirk for 20 shillings sterling willshould be 198 livres 3 sous recconing a French crown new species at 5 livres. But her Maty may increa alter the proportion at pleasure.

When 9£ sterling are recconed at a par wth 100 Gilders specie specie {illeg} moneyas above, the specie money of Holland is overvalued by about 3$\frac{\mathrm{1}}{\mathrm{4}}$ per cent For a three Gilder pieces new {illeg}tunworn isare worth only 62$\frac{\mathrm{3}}{\mathrm{4}}$ pence by the weight & assay. And thence 9£ sterling are intrinsecally worth about 103$\frac{\mathrm{1}}{\mathrm{4}}$ Gilders And if a recconing was grounded upon this intrinsic value of the Dutch money her Majts allowance over & above 17 livres would be only 15 {illeg} 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 wch her Maty made the late allowance to her fo{illeg}rces in Flanders I have followed them in the recconning above set down for Dunkirk.                                         I. Newton