necessary warr, but incapable of carrying it on without the necessary supplys. when our false were underhand contriving all the methods, and employing a thousand little artifices to embroile the state, and perplex the Government: when trade abroad underwent great discouragements by vast losses, and our Inland marketts were excessively disturbd and embarass'd by the badnesse of the mony: When the late King and his Ministers lay under all hardships, and difficultys in the administration, that perhaps ever hapned in any reign at one time, in this or any other Monarchy: When the burden of the Government satt so heavy on their shoulders that all their Prudence, firmness of Mind, zeale for the Nation and diligence in their severall stations, were but insufficient to support it from a relaps: When a disaffected Party amongst us whisperd and at last openly declard their assurance of a new Revolution with unexampled insolence, & impunity; and our Ennemys abroad triumph'd in the prospect of our ruine, and to complete it, had form'd with their Confederats here a design to assassinate the King and Invade us. In this very Criticall Iuncture, when in short Treachery and Perfidy and Poverty too reigned throughout the Kingdom, and some Persons hoped and most men1908 men feard the Government was in a sinking condition, and that 'twas impossible to restore it. This was the time when the Reform of the Silver and the Reduction of ye.the gold coins was resolv'd on: and the Resolution lookt like a paradox to most people, who thought it strange when the Government had so many occasions for mony, that some Ministers should propose to lessen the tale of the publick stock by reduceing Guineas for 30s to 21s. 6d. and by recoyning all the debas'd and diminish'd silver monys at the ancient weight and finenesse; which was advising and acting against the generall sense of most of the Gentlemen who had offerd their thoughts to the publick on this occasion, and against an Universall opinion vizt. That the only wise and safe Expedient could be none other than to increase the Cash of ye.the Kingdom by lessening the weight of the particular pieces, advancing the allay or raising the Denomination. And if ever so unreighteousunrighteous a practice was justifiable by the extraordinary occasions of the state, this certainly was a juncture that made it in a manner necessary to us: And the Patrons for it who were many & considerable within and without the 2 Houses pleaded our necessitys, and urg'd the Examples of former ages, and1919103 and foreign states, with extraordinary zeale. In so much that had not some Persons of great Abilitys in both Houses () cleerly understood the Debate, and steadily maintaind their ground, the Coin of England had infallibly been debas'd by authority of Parliament, which would have been a standing Reproach to our publick Councills, a high dishonnour to the English Nation and Government, and would have created new Evills and have brought upon us a world of mischief and damage in the whole trade of the kingdom for many years to come. Yet as I have already hinted some were so unhapily mistaken, others so resolut in opposing a thing of that consequence to the publick wellfare that the Reform of the Coin was undertaken with as many disadvantages, press'd forward against as much opposition, and perfected w.thwith as many advantages to the Nation if not more than any other publick transaction since the late Revolution. But after the work was over and the good effects of it were seen through out the Kingdom, every body was satisfyed in the Iustice and prudence of ye.the undertaking, thôough was before ridiculd as impracticable by some men of an unfortunate temerity, and like wise and honnest Patriots192200 Patriots were for deferring the Coynage, or debasing ye.the Coin to keep up our Creditt and save the Nation.

'Tis therefore a demonstration of this inflexible Iustice and admirable Wisdom of the Government who when they had the fairest opportunity from the weakness of some, the importunity of others, and the publick necessitys of raising vast supplys by giving new Titles to Coins, and advancing the value of every species, and paying therewith the Publick. yet the Temptation was generously sleighted, and the Government chose rather to pursue the measures of true wisdom and pollicy in reforming the Coin according to ye.the ancient, legal standard of England; which was so memorable an Act of Iustice and Pollicy too, that it ought to be rememberd with gratitude by every true English man whilst the present Coins are in being.

And I am of opinion that this great work hhas some title to the honour of putting an end to the late long and expensive warr. For the Court at Versaille seeing wee durst undertake such a task, as restoreing the whole cash of the Kingdome, when the Government was loaded with prodigious debts, drain'd by vast Expences, and embarass'd with an infinit number of difficultys: and that upon the Restitution of the Coin in 169$\frac{6}{7}$, Trade193201.104 Trade began to revive, and the Nation was in some respects in a better posture than at the begining of the warr. When the many millions wee had coynd in Gold and Silver were publickly known abroad. France saw that we were not destitute of steady Councils, nor of a vast Cash to continue the Warr with her: and that 'twas in vain for her to hope for any success against us, whilst wee were under the conduct of so just and wise a Government; and tho wee all know the prospect of the Spanish Succession was the chief Inducement at Versaille to desire a peace of the Confederats, yet I may say excused if I offer to say that the peace was not actually concluded 'til November 1697 when wee have actually recoyned about six millions in silver