Draft of <ref target="/catalogue/record/MINT00270">MINT00270</ref> (Mint 19/2/139) Isaac Newton Unknown c. 397 words Newton Project London 2019 Newton Project, University of Oxford

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 c. 20 January 1701, c. 397 words.

Mint 19/2/81r is in a clerical hand, heavily emended and expanded by Newton; the other folios are holograph.

 Recommendations regarding currency control [MINT 19/2/139] MINT 19/2/145, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/2/145 c. 20 January 1701 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

The great value put upon French & Spanish Pistoles in England has made them of late flow plentifully hither above any other sort of Gold Especially the French Pistoles wchwhich are better sized & coyned & less liable to be counterfeited & by consequence of more credit then yethe Spanish. For Pistoles pass amongst us for 17s 6d a piece whereas one wthwith another they are worth but about 17s 1d at yethe rate that Guineas of due weight & fineness are worth 21s. 6d. And if allowance be made for yethe lightness of oer silver moneies by the wearing & melting down of the heaviest pieces & wearing of the rest yet Pistoles will be worth but between 17s 2d & 17s 3d.

About four years ago by the English putting to great a value upon Scotch money, the northern borders of England were filled with Scotch that money & Scotland was filled with oers the Scots making about 8 or 9 pr cent profit by yethe exchange untill yoer LordpsLordships put a stop to the mischief. The case being now the same in yethe reputed par of yethe Exchange between oer money & Pistoles wchwhich runs 3d or 4d in a Pistoles to yethe nations loss we humbly represent it to yoer LordpsLordships beleiving it proper to be laid before in order to such a remedy as your LordpsLordships shall think fit, so that when yethe Exchange wthwith forreign nations runs on oer side as at present we may not lose oer advantage by it, & when it runs against us we may not lose more by it then is necessary. All wchwhich

We presume also to lay before you LopsLordships that by reason of the great demand of Silver dor exportation to yethe Indies the price of Bullion exceeds ytthat of Silver for of silver monies by 3d or 4d & sometimes by 6d or 7d pr ounce, whereas the monies ought to be of f as as greatgreat or greater value then bullion by reason of the workmanship. And this high price of Bullion has not only puts an end to yethe future coynage of Silver monies but is a great temptation to yethe melting down clandestinemelting down & exportationing of what is already coyned. A mischief of such consequence as may deserve yor LopsLordships consideration of a remedy

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For Mr. Newton