Draft of <ref target="/catalogue/record/MINT00499">MINT00499</ref> (Mint 19/2/236v) Isaac Newton c. 963 words Newton Project London 2019 Newton Project, University of Oxford

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 Jan. 1712, c. 963 words. Report on foreign coin in Ireland, with Newton's comments on it [MINT 19/2/236] MINT 19/2/230, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/2/230 Jan. 1712 England English Holograph MintOverseas Mints and Coinage Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young Catalogue exported to teiHeader by Michael Hawkins Transcribed by Kees-Jan Schilt
To the Rt HonbleRight Honorable the Earl of Oxford & Earl Mortimer Lord H.High Treasurer of great Britain.

May it please yoer LordpLordship

According to yoer LordpsLordships Order signified to me by Mr Secretary Harley'ns his Letter of Feb. 26 instant, I have considered the Letter of his Grace the Duke of Ormond her MatsMajesties Leiutenant General & General Governour of Ireland sent to yoer LordpLordship, together wthwith the Representation sent to his Grace from yethe Lords of her MajtsMajesties most honblehonorable privy Council of that Kingdom, proposing the making current there by Proclamation several pieces of forreign Gold therein named in order to prevent the counterfeiting thereof by making the crime high Treason. And I humbly represent that the Moyders of Portugal one wthwith another weigh 16512 grains as they are brought hither by the Merchant & are a quarter of a grain better then standard, but the Spanish & French gold coins are half a grain worse then standard & the double Pistoles & Lewises weigh one wthwith another a grain or two above 204 grains. And at yethe rate that a Guinea is valued here at 1£ 1s 6d, the value of the forreign coins is as followeth:

The quadruple Pistole of Spain weighing 410 Grains is worth 3£. 8s. - The double Pistole of Spain weighing 205 grains is worth 1£ 14s - The double Lewid'or weighing 205 grains is worth 1£ 14s - The quarter Spanish Pistole weighing 25 58 grains is worth 4s 3d. The quarter Louid'or weiging 2558 grains is worth 4s 3d. The Moyder of Portugal weighing 16512 grains is worth 28s 8d. The half Moyder weighing 8234 grains is worth 14s 4d. The quarter Moyder weighing 4138 grains is worth 7s 2d. But if the value of the forreign gold coins be raised in Ireland in such a proportion that a double Spanish Pistole & a double French Louis may pass there for 1£ 17s & other Spanish & French pieces in proportion, then the value of the pieces may stand as in the memorial Representation excepting that the Moydel weighing 165 grains must be valued only at 20s the half Moyder wheieighing 8212 grains must be valued at 315s, & the qhalfuarter Moyder weighing 4114 grains must be valued at 7s 6d. And at this rate a Guinea ought to pass in Ireland at 23s 4d. For if a higher value be there put upon forreign the gold coins of forreign Princes then upon her Majesties gold coins it encourages the recoining of her MajtsMajesties gold moneys in forreign Mints for the use of Ireland. And counterfeiters of the coin in Ireland may make a good profit by recoining Guineas into Pistoles & Lewid'ors of good gold. In the reign of K.King William the Scots put their Crown pieces in the northern borders of England at 5s sterling & their other silver coins in proportion, tho a Scots crown was worth but 4s 6d. By this means the northern borders of England began to abound with Scots money & Scotland wthwith English money; wchwhich afforded a profit of about ten per cent by recoining the English money in Scotland, till the Officers of the Mint gave notice thereof to the Lords CommersCommissioners of the Treasury, who thereupon put a stop to the currency of the Scots money in England. At that time Lewidors & Pistoles passed here at 17s 6d a piece, wchwhich over value brought in so great a number of those forreign gold coins that when the Officers of the Mint gave notice thereof to the Lords CommersCommissioners of the TrearyTreasury & the late King issued out a Proclamation that those pieces should go but at 17s a piece, there were coined in the last year of his reign & the first year of her MajtsMajesties reign, above twelve hundred thousand guineas out of those forreign coins. And all this gold came in by the encouragement given to the Merchant to turn English silver into forreign gold. And if forreign gold be raised thrice 230 thrice as much in Ireland, it must increase this effect. I do not fully know the present state of the coins in Ireland, but I am humbly of opinion that this matter deserves to be well examined before any thing be done in it, & for that end may be referred to the CommersCommissioners of Trade it yoer LordpLordship thinks fit. All wchwhich is most humbly submitted to yoer LordpsLordships great wisdome Is. Newton But if some allowance be made for culling & wearing & on that account a Pistole & Lewid'or be recconed (at a medium to weigh 102gr & a Moyder 165gr, the & a Guinea be valued in Ireland at 23s And After yethe rate that a Guinea is valued in Ireland at 23s, a Spanish pistole weighing 102grains is there worth 18s 2d14, A French Louidor is worth weighing 102g is worth 18s 2d14. & at Moyder of Portugal weighing 16514gr is worth 29s6d, & the quadruple, double, halfs & quartesrs of these pieces in proportion. But if a Pistole & Lewidor pass already pby Proclamation at 18s 6d & cannot conveniently be brought down to 18s 2d, & (for its improper for forreign coins to pass in Ireland at a higher rate then her MajtsMajesties money in proportion to their intrinsic values) the rates of the Spanish & French coins may stand in a new Procl. as in the Representation, & the Portugal coins be set down in new a Proclamationtherein as follows. - The Moyder weighing 165gr at 29s 6d - The half Moyder weighing 82K. gr & one half at 14s 9d. - The quarter Moyder weighing 4114grains & a quarter at 7.s 4d12 half penny All wchwhich &c