Partial draft of <ref target="/catalogue/record/MINT00322">MINT00322</ref> (Mint 19/2/111-16) Isaac Newton c. 495 words Newton Project London 2019 Newton Project, University of Oxford

This metadata is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

 September 1717, c. 495 words. Response to an order to report on gold and silver coin in Britain [MINT 19/2/111-16] MINT 19/2/69, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/2/69 September 1717 England English Holograph MintEconomic Theory and Legislation Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young Catalogue exported to teiHeader by Michael Hawkins Transcribed by Kees-Jan Schilt

A old Spanish Pistole was iswas Coyned for 32 Reaus or p 4 pieces of eight Reaus & is the 16th part of the weight, & of equal allay. At wchwhich

A Doppio Moeda of Portugal was coyned for 4000 Res or ten Crusados & is the 16th part of the weight & of equal allay

Gold is therefore in Spain & Portugal of 16 times movemore value thethen silver of equal weight & allay. At wchwhich rate a Guinea is worth 1£ 2s 1d [And . this undervalluing of silver calrries all it from thence into all Europe. & So that the Spaniard make all their payments in Gold & will not make payments in Silver unless for a premium of 5 or 6 per cent.]

In England the fine silver in 21s 6d is to the fine gold in a Guinea in weight as 15∟5717 to 1. by by the standard.

In France the Silver in four new Lewisses is tho the Gold in a new Pistole as 15 to 1 by the french standard. At wchwhich rate a Guinea is worth. 1 0. 812.

In Holland A German Ducat of Holland & the Empire is is vallued at 5 Guilders & 5 styvers [that is, at so much fine silver as is conteined in 9s. 114d English ] that is to At wchwhich rate a Guinea is worth 20s 712d. In Italy & Germany & the Northern kingdoms a Guinea may be worth 720s & 7d 6d or 5d or 4d or thereabouts. For the value varies in the several Principalities of these countries. NB 1. The high price of Gold in Spain makes their silver run into other countries as fast as it comes from the Indies. So that the Spaniards make their paymtspayments in Godld & will not pay in silver unless for a premium of 4 or 5 oabout 6 per cent. 2 That the high price of gold in England may incline the Merchant to import more Gold then silver & export more bullion of silver then bullion of gold. 3 That the sixpences coyned 18 years ago being lightned about 4 per cent by wearing, are thereby preserved sufficiently preserved from exportation & from the melting pot. That the Shillings then coyned being lightned about 214 per cent are also thereby preserved from the melting pot. 5 That the half crowns be then coyned beingare lightned about 114 by wearing are preserv per cent & the Crowns about 12 or 34 per cent. And that the FreWhich tends to the preservation of these species That the new French Lewid'ors are coyned coarser then the French standard by about 2d 0r 314 in the Lewidor & that the new Lewises are coyned f finer then their standard by about 1d a 114 in the four pieces Lewises. And this also tends to hinder our silver from going into France & their Gold from coming into England 7 69