Memorandum concerning the values of English, French and Dutch monies

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In the course of Exchange, nine pounds sterling are recconed at a par with 100 Gilders specie money of Holland, or 1li with 11 Gilders 2$\frac{\mathrm{2}}{\mathrm{9}}$ styvers. But 1li sterling lately passed in Holland only for 10 Gilders & 9 or 10 Styvers, or at a medium for 10 Gilders 9$\frac{\mathrm{1}}{\mathrm{2}}$ styvers. The defect is 12$\frac{\mathrm{13}}{\mathrm{18}}$ Styvers, whereof hHer Majty allowed to the forces in Flanders 5$\frac{\mathrm{1}}{\mathrm{2}}$ Styvers, wch is almost one half of the defect or loss by the exchange.

The par between English & French money of the new species ais not {illeg}yet setled by the course of exchange: but by weight & assay I find that an unworn French crown piece of the new species wch passes at Dunkirk & in France for five livres is worth 5s 1d sterling. And at this rate {illeg}20s sterling pass at Dunkirk are worth 19 livres 13$\frac{\mathrm{27}}{\mathrm{61}}$ sous. But 20s sterling pass at Dunkirk for only 17 livres. The defect or loss is 2 livres 13$\frac{\mathrm{27}}{\mathrm{61}}$ sous, to be divided between her Maty & the forces. And as 12$\frac{\mathrm{13}}{\mathrm{18}}$ styvers to 5$\frac{\mathrm{1}}{\mathrm{2}}$, so are 2 livres 13$\frac{\mathrm{27}}{\mathrm{61}}$ sous to 1 livre 3 sous, her Majts proportional part of the defect: wch added to 17 livres the current value of 20s sterling at Dunkirk, makes her Majts allowance for the pound {illeg}sterling 18 livres 3 sous recconing a French crown new species at 5 livres. But her Maty may alter the proportion at pleasure & make the allowance in a rounder number.

When 9li sterling are recconed at a par with 100 Gilders as above, the specie money of Holland is over-valued by about 3$\frac{\mathrm{1}}{\mathrm{4}}$ per cent. For the three Gilder piece unworn is worth only 62$\frac{\mathrm{3}}{\mathrm{4}}$ pence sterling by the weight & assay. And thence 9li sterling are intrinsecally worth about 103$\frac{\mathrm{1}}{\mathrm{4}}$ Gilders. & 1li sterling, wch lately passed at about 10 Gilders 9$\frac{\mathrm{1}}{\mathrm{2}}$ stivers, is worth 11 Gilders 9$\frac{\mathrm{4}}{\mathrm{9}}$ stivers, & the loss by the exchange is abouet a Gilder whereof her Maty bare only 45$\frac{\mathrm{1}}{\mathrm{2}}$ stivers, wch is about a quarter of the whole loss. And according to this proportion her Maty should beare but a quarter of the loss by the exchange at Dunkirk. But the rules of the Exchange where they are setled being generally followed, I presume it might be her Majts intention to beare about one half of the loss by the Exchange in Holland, as in the recconing first set down in this paper.

Is. Newton