1000000031

25)

'"'

""ltiog

P"' ,

.n·j fdl, li" m .. bullion, (or

65/.

~:r En~lan.l.

'<fin« Ihofe who expon r.lver bring blclc ,he

ouncc

all thor:: whidl :He bclow lhJl n cight he ca rnc'i

(.'1.11•...:

t':d ue

11\

111)1,1? \Vele:

thll

trade

J:H ned

n¡.·

mJrkct, ano buys bulliun

wllh

lhem,

penccpu

h .;,

thcrc " ..

uhl

no lof5 ; becacrc

th\:y

wou ld

brins

ounee.

)nl"::

co1d for the

whulc intrinfic VJluc

of l he

filver.

W·h... i, Ihe conf'·' lu.nce of Ihi. !

)3"1 If we luppur" fore,cners f""d,ng over golJ 10 be coineJ

T h.1 1100(" who (di the bulhon,

6ndin~ t~.e

O,illin&, 01 ,he E nghfh min I, . nJ eh tnc,ng tho<

~old

10'0

EogliOI

, \hich {he 1l'Iun('y.jobher pays

wilh

pcrh~(ls

nOI

abo\'c-66 fik.!r

CUlO,

,md

Ihen

can y¡ng

htr

Ihis

coin,

¡,

plilin

of a pouod troy. (hey on thei r fidc:

raire

lhe

rricc

of thcl r Ih:H

th~y

nluH

ga n lhe

dIA:~lcncc.

as well

3.5

lhe money

bullion

66 p, nca ,he o,'ne<.

jobhc" .

HUI

il m, y be ani'w. reJ, , hac I"viog g,ven

~olJ

T his m.kes ncw work fur

lhe

money-johbe:r; for he tor

fi lv.!r

the r,ue of lhe m nt, they h¡¡ve giv(!o

v.¡Ju~

mull . Iw.y. gaio.

Il o now weieh••11 fhdlio g' '-. ,hey (or. .,.¡" I Ihe] h.,., received . . Very "ghl; bu, fo di.!

come

h ..nd; and :" fornh:r1y he Ihrcw intJ 11Is mdtlog. Sir H"ns Sin

In..:,

WrlC!l

paid

6\'e guineas for an

Over·

por thoCe:

or.ly

which were: \\

onh

{han

rir

a pound

grown tod: he gOl

vdlllt!

ler

his

money:

bUt ic ,\'"

troy.

no\'!

thro\Vs in

all

lhal are

\·"Iue

aboye

r6'

,'"Iue

ooly

himrclr. }uH

fo.

whene\'er lhe

E nghOl

H e ,hen fdls ,h e mel..d fh illiogs

66 pene< ,he ounee, governm.1I

0,.11

be obliged ca renore Ihe proponion of

and buy' b"lIion wi,h ,he ligh ' ones .. ,he fdOlO price.

lhe OIe,.I" (as ,hey mull do,) ,hi, openuon w,l1 aonihi-

'n,is

lhe

conf~quence

cver

permitllOg

any

fptcie!

lat.e

that im.1gloary value which

they have

hithen o

fet

cuio

plfs

bY 'th e:

~mhorit;¡

of lhe fl ,tnlp. wilhout

Opun

gold ;

whl~h

iOlOlginittion

is lh..: ooly lhing

which

cootrolling i,

,he f. me ,ime by ,he wcigh,: and ,lus rcnclers ,he exch. oge of ,heir lih'cr .g. ioll lhe foreigo

¡,

,he manner in which OIoncy·jobberl gaio bYlh:.currency golo eqlla!.

of ligh, mooey'.

Bu, i, is (, ,,her objeflcd. tha! (oreigners canoo' carry

arguOlent

agil.inll

{his expofilion

th!

matter

off lhe heavy filver;

becrlufe there

1! none

carry off_

10 f.y, th.. fil"r bullioo is feldo:n bough, ",i,h r.lver Very tlue ; bu,

duo

Ihey

h.ve

camed ofFa.great quan–

coin

becatl re,

tbe

penec

O!!W

guintas

are

wonh

tity

a l re~dy:

or If lhe Englifh

Jews

hrl\'C: beco

100

Iharp

t h,n ,he peoce o( fhi lliogs of 65 in Ihe poun.!

''''y:

,ha< 'o allo\V lu ch a profi, ' o f.11 ' o llraogers , (which m,y or

f~y)

2.J0

pcnce contained in

.;.~

of a

new

ruay

nOl

have ueln lhe cafe, ) then this

dilorder

is an

guín.. , aod 240 penee cootained in 28 fi,illing. of 65 cffefluall!op 'o any more eoin' ge oUilver (or circuladon.

l O

the pound tr oy

diffcr no more

in the:

iotriníic v.alue

0llh~

'1r.lt

'J' in

Ih~

Bril'ifl.'J cs;n, ro

J llr al

(ffréll

than 0.88 o( , grain o( fin. rdver upon the whole,

l '

which is a mece .. ill".

Ih< val,,,

ojlir

p,ulldJluling eurnney.

' Vhene Hr,

therefore, fllillings

come

below lhe

w~ighi

F ROM what h:ts beco fa:d, it is

c:videot,

lhat

there

o( a pound ero)', ,h"o ,here i, .n adV>.n"ge i. muJl be found in Engllnd

'\VO

ICg11 pounds f1erl ing, o(

cha0k:ing thcm

fOl

ncu.'

guineol::; :

and

when

lhat is lhe

cíI;(e,

diITerent

\'01IIlC5;

the

ooe

wonh

113

graios of fine

gold ,

the now c"ine" will be

m~l"d

dow o, and profit \ViII be ,heo,her",o"h 17,8 7groinsof6ncr.lver. \ Vecal1,hcm

founu in l"elhrg thCOl

(01'

hull:on, upun the

principies dlff: renl ;

bec;:lul~

thde

( ',\0

pOI

riaos

of (he preciou5

we:

hlve

jult becn

pl.·¡jniog,

mel.lls

ótre

d.lTercOt

"alue! aJl

lhe

ovc:r

Europe.

\ Ve

h:w~ alre~dy

g; vCD

fre:cimcn

of lhe

uomeOic

BUl bdidn

thele

I \VO

difFert'nt

pOll nds

HerllOg. which

pcr:uiom uf

the OloOly-jobbcls;

bUI Ihefeare

DOI

lhe

mull thechange in lhe

prppor uon

of lhemelal~h"vc

crc.ued, the

prejudiciéll

to natiollal COOleros.

'1'he j obbrrs

may

be other

dcf(~¡;

(he

cin

ul.uing

coio proJuce fin\d H eff't!(ts.

fup?o(cd

be EnghOlmen ; anu in Ihal caf. ,he profil T he gu,"eos cuined by .11 ,he Pnnccs r.nce

J~ .

C har:..

(hey m..ke rt mains

home : but

whencver

there

a c:a ll II

h1t\"C'

becn of lhe f.ame

flandanl weicht

and

tlnene(s,

(or

bullioo

p~y

the

balance

tr de.

evident

ó at

4-'+

pound troy

llandard

g..lld +}

tine :

th(

(e_hav~

tlais will be

p:.aid

in filver COln,

ncver

g(jld,

hró)\'y

beco

conlfand y

\VC,H ing C\'t:r

lince they

have

beeo e >ined¡

!ilvt:r

c:tn be:

gOl

and this

"riain Cardé!

¡¡way Ihe filver anJ in propon

ion

lhei r wcaring lhe)'

3re

of lefs valll e.

coie

ar.d r:r.d(:rs

~t h,)l1~c

rare .

lhal

creat

ioconve -

If, lhercfort",

the

n'!\V

guinC'ils

are bclo'v lhe! "alue of

nicncies

four.d

fol'

\\t:\nt

uf lh!!

ld fer

J~llominalions

pound

Herling

in tih'er,

fLlOdard

w~il~h t.

lhe

010

mufl

it. Tht:

lo~s ,

hO'\'cver, hcre is conhncd

an incunve-

Icfs

value fidJ.

Here

lhen

anolher

currency,

niencc

~ lC:(¡Hlr~

the b..I.nce uf

traoc

being a dlbl wh ich Ih.u

¡'.

anotherpound Hedins:

ind ~ecJ,

mure

properly

mufl he

paio,

\Ve do

r.ot

(onflJer

I ~,e

e:<port Hion

of lhe

fl'eaking,

lhere

are as

m J n)'

dtff''':lcnt pounds

tkrli n

o l

ft!v~r

[ur

th;tt r urpof.:

H.y

confequenoe of ¡he

diforuer

thcrc

are guineas of

ddfel ent wrights . 1 'his

is not 3.11 ;

of th :

coin ,

J;ut

bdidcs

tI.is

cxporlollion whi..:h

r.e-

lhe

monc:y

j ,Jbucrs havi"g

carrtl!'d

off :¡1J

lhe

wd~hty

(jI ·

cc(fJ ry, tliercare OIhcrs which

are aruttr¡uy,

J.nd

which

ver,

lh u

which

is worn

with uC:,

:\111.1

rccluc(J

t'\'t'1l

be·

,ue

~l"dc:

only

Wilh

a vie\V

lO pro:: l

of lhe:

wrulIg. pro•. IOHI

(he nand.trd

o1d • forms

on e

curn:n~y

m0re, anJ

porllon .

tou lly

d:ltroys

"IJ

dl'l~rminf\tc

proror:inll bt:[wCCIl [he

\\'h t'~

l!JC r.l

nf'y

jr,h l {'rs

find

c'ifficllhy

in c;lrryinr. 00

mont y lIllit . nJ the curlencies \\

hi~h

ar.:

fuppo (;:d

re'

(he

U.. !1H:

\'.'c h.I\'e

dt.(~r lhecl ,

the

E ngll{h

n\.llh.<' I, plcfcllt

it A

Lec:.ure

uf 11,(;

mpcti:icn

~mon~

Ihemf..:\ v\ s. thcy

CHly

m.1Y

he aflu:d, ho'.V ,

:\t

this

rateo

any fih'cr

h~,s

re·

the

filvLT

(oir. O'l!

t h~

COI' IIII

:md

(,11

:.h r,¡;:¡d tur nl.tineclm

En)'

!L.nd?

is anfwc: red. Ihat lhe

fc.;\V

wClgllty

gc.ld

U;)I)O

Il.e

{ame.:

lIr1nt:; I,I ~ s

that

dIe

l':all

InJi.1

CJIll.

(1l.1ltngs

Wlli...h

Ud!

rrl\uin

io circul,uiol1.

,'C

lrvd·

p.. ny

flrld

(; I\'cr

Ch:na ,

order

pl1rchart

!! ~ ltI ,

lm.dly

cfcapcd

Ihe hands of lhe mon.:y jobbtrs: and as

may

bo:

l.J....

fl1;Lr.¿u,l. ',',·lI.:.t

IaUIt tlHs

H'.de

e.ln

Jo to

tor

Ihe rcH, Ihe

rubbing

anJ we:\t'ir.2

thefe

p¡cccs

dune