Draft of MINT00270 (Mint 19/2/139)

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<text in Clerical Hand begins>To the Right Honorable the Lords Commissioners of his Majesties Treasury

May it pleas.e yor Lordships

The great value put upon French & Spanish Pistoles in England has made them of late flow plentifully hither above all other Sorts of Gold, especially the French Pistoles which are better sized and coyned and less liable to be counterfeited and by consequence of more credit then the Spanish. For Pistoles pass amongst us for 17s 6d a piece whereas one with another they are worth but about 17.s 1d at the rate that Guineas of due weight and allay are worth 21.s 6.d. <text in Isaac Newton’s hand begins>In France by and Edict of May last a Pistole ( markt or not markt) passes for foure Ecus wanting 12 sous that is doe 17.s 2.$\frac{\mathrm{8}}{\mathrm{17}}$d an Ecu passes for 68 sous a Pistole (markt or not markt) for 13 livers or 4 Ecus wanting 12 Sous recconing an Ecu worth 4s 6d according to the reputed Par of Exchange. And so much may Pistoles be worth here if allowance be made for the lightness of oer money by wearing

3$\frac{\mathrm{14}}{\mathrm{17}}$ Ecus <text in Clerical Hand begins>About four years ago by the English putting too great a value upon Scotch money the Northern borders of England were filled with that money and Scotland with ours, the Scots makeing about 8 or 9 pr cent profitt by the Exchange untill yor Lordships were pleased to put a Stop to the misschief. The case being now the same (but of much greater consequence) in the course of Exchange between English money and Pistoles, by the reputed Par running at least 3d or 4d in a Pistole too high to the nations loss We therefore thought it our duty humbly to represent it to your Lordships in order to such a remedy as your Lordships shall think fit. // We presume also to lay before your Lordships another misschief of dangerous consequence The great demand of Silver for Exportation in Trade has raised the price of Bullion above that of Silver monies 3d or 4d & Sometimes 6d or 7d pr ounce, whereas monies ought to be of as great or greater value then Bullion by reason of the workmanship and certainty of the Standard. And this high price of Bullion has not onely put an end to the coynage of Silver, but is a great occasion of melting down and exporting what has been already coyned the running down of forreign coyn in private for the Merchant & the dependance upon bare oaths faciliating the mischief. All which is most humbly Submitted to your Lordships judicious consideration & great wisdome.                                         M

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<text in Isaac Newton’s hand begins>All forreign silver monues virgin silver & Spanish barrs brought to the Mint shall be there registred & melted into Ingots & the Ingots at the choise of the Importer either coyned or marked with one or more marks provided by the Master & Worker for that purpose. And at the request of the Importer the Master shall give him a Ticket certifying            weight of the monies coyned out the said forreign Silver [monies Virgin Silver or Spanish Barrs,] or out of Spanish barrs which Ticket shall be indented & cut out of a book in which the same shall be entred.

Ingotts so markt & Forreign monies in specie & Spanish Barrs & Virgin SIlver may be either exported from London or sold to Goldsmiths or others. But Ingots not marked may not be exported nor bought or sold (except Spanish Barrs,) but shall be coyned if brought to the Mint.

The Merchānt upon delivering the Mint Ticket to the Customer may within a year after the date export so much English silver monies by weight as are mentioned therin & the Customer shall enter the same in a Book & file the Ticket. And to check the Merchant the Master shall montly send to the Custome house a list of all the summs of money coyned out of forreign silver as above for which he has granted Tickets.

All silver monies exported (not excepting pocket money) 1$\frac{\mathrm{1}}{\mathrm{2}}$d 1$\frac{\mathrm{1}}{\mathrm{4}}$ 1 Shall pay          pr ounce the Custome house for or towards the charge of coyning the same. [And all uncoyned Silver exported Shall pay     0$\frac{\mathrm{1}}{\mathrm{4}}$d. pr oz the Custome house for encouragment of coynage.] Which payments shall be kept apart with the Duty already granted for encouragement of coynage & therewith paid into the Exchequer & thence imprest to the Master & Worker for the same uses.

Penalties upon them that counterfeit the Mint Mark or the Mint Tickets or ship silver to be exported unlawfully or without paying the duty, or buy or sell unmarkt Ingots, or counterfeit virgin silver coursery it ought to be in

No Gold or silver (other then pocket money already allowed) to be exported out of Ireland except into England. And notice of all such exportations to be monthly sent from the Custome house in Ireland to that in London for enquiring after the same.