294 / 868
!ll
o
N
of lhe coins, th3t propC\rtion
",un
be :'lcljuOeJ
by
ch:m –
ging Ihcir
rcfpctllve
u..:nollllnltions acc<Jrdlng
tu
this
IOlmld:t.
L et the
20
fh illings,
or 4 cro\Vns, in coi o, be c;'llJed S.
Let ,he guinea bec",lIcn G .
L~ t
the
dlfrl Tcncc bClween
lhe
old
rroponian
"ud
the
" C\V,
whic:h 15
"'I"'lfl
be called
P . Then lay,
.
S-~-=.
pOllnd Oerling, and
G+~
=.
pouncl Oerling.
2
2
By
this it
"ppctl.rsth:n all the filve r
coin
m~ 1l
be
rair~d
in
lIS
rlenomination
T'V'
:tod ...
J1
(he
ge.ldcoio m uH be
Jowercq in its denomin;uion
T-
1
-g ;
yet lIill S+G \ViII be
e'l ual
lO
t
\vo pounds lIerJing,
:lS
berare,
whethcr they
be conliJered according to
Ihe::
old, or accardíog to the
ne\1,I denominations .
But
il
may be ob(crvcd, th:'ll Ihe
inlporition
of coin¡.ge
Tcndcring (he value of
lhe
coin greater Ihan the value of
lhe bUJlWD,
that circumílance Ci\"cs a certain talilude in
fi xing lhe new denomiaatia os of tlle coin, ro as
[Q
a\'oid
minu le fr a[tions. For, providing lhe ocvialion from
the
txaél proportion null f.1I wi,hin lhe .dvanced price of
l~e
coin,
no
ad"inrage can be taken by mehing down one
fpecies preferahly to another; fince , in etlher cafe, lhe
loes tncurrrd
by
mehing the coin muU
be
greater ,han
the
profll
m.deupon felling lhe bullion. The min, price of
t ite
metals, howe\'er, m::l.y be6xed exaélly, lhat is, wilhin
.he value of a f.nhing upon a pOllnd of fine filver or gold .
This is e¡fily reckoned at the mint; although l1pOO e very
pie.:!! io commoo circulalion lhe
fra~ivns
of farthings
w ould be
incooveni~nt.
J
5.
That nOl withflanding or lhe temporary variations
made upon the denomination of the gold ano filver coins,
al!
cOl)traéls forOlally en:ered ioto, andall Hipularions in
pounds llidlings and
pen~e.
may
con ~lOue
to
be :lcquit.
ted acconJing to
t~
e old denominations of the coins, pay·
ing
one h:
:l.lfio gold, and one half io (jlver : uolefs in lhe
c:\re wht' re a particular {pecies has becn fliptllated; in
which caft', the fums nlu{\ be paid according to the ne\V
rcguhtion made upon the denomin:uion of that
(pcci~s
10
,he enu lha, nci,her profi l or lofs may reful l lO any of lhe
panics.
16. T hat notwith(l.!.ndi ng the alterations
00
tht! miot
price o( the mplals , ilnd in the
denom~nation
uf
lhe coins,
no
ch~l1ge
{hall De
made upon the ",clghr
"f
the particu–
loH
picc~s
of (he I,,([cr, cxcept
in
lhe cafe o f
tt
gl'ncral
rccoin,tge
of
one dcnomintltion lt leaft : that is
10
fA.Y,
, he mine
IUU!l
not coin
ncw
u,¡ineClS, cro'.vos ,
cre.
of
a
d,ff"Hcn t weight f,om thofcJlreacly in currency. ailhough
by fa
doin~
¡he rrl,,'lIO:H ,",ght he <lvoidcd. This \Vould
occa(j\1:l confu!if'n, and tht: rClllcny
wo~dd
crafe
Hl
be:
of
a ny ufe -ll;lon
:1
nt;\V
c.hJ"~c
in the rroportion of the
me–
tals,
llut
lt
may
be four.J
.:onvcm\,;at, fOl rCllloving ,he
J\.I
O N
rrn ..1I rrRl'lior.s in fl\ ill ings and fi x pcnccs. to rccoi n fueh
dcnomln2tions
0111
togcthcr. and to put thcm
to
th: ir
io r(
.p.croumbcrs, of rweh'e and of (j x pencc, ,.. ithout
ch.tnging in
any
rcfpcél: th t:ir proportion of
v:due
lO
all
0-
lh er oenomioations of the coin: thls
wilJ
be no grcat
ex..
penre, whcn the bulk oflhe rih'er coin is
put
into
S
fhiJ–
Jing pieces.
lly lhis me,hod of
ch.ngin~
,he dcoominations or ,he
coio , there never can refuh any altertl.tion in the "alue of
the pound Herling: and
althou~h
[rtl.8ioos of
"alue may
no\Y and Ihen be introdoced ,
in
order
to
prevent the
a–
bu res
10
which the coin \Yould otherwife be expored
by
the artifice of thore \Vho melt it down,
~t
lIilJ the
¡n–
convenience of fu ch fratlions mayo be avoided in pdyiog,
ac('ording tO the old denominations, in both fpecies, by
equal par... This \ViII alCo prove demonOr.,ively, ,ha<
no ch:lnge is thereby made in the trae value of the na–
tional oo:t or money .
17. Tha, il be ordered, lha< (hillings .nd fixpence. (hall
only be eurrent ror t \Vt:oty years, and
all
olher coins,
both gold
and
filver, for fon y years, or more . F or
af–
ccrtaining whieh term, ,here nuy be marked, UpOD the
cxer¡~ue
of lhe coin, lhe tan ycar
oC
their cu rrtncy,
in
place of the date of their fabricatíon.
This
term elap–
red, or ,he date eff.ced, ,ha, lhey (hall have no more
• currency whatfoe\'cr; and when offe:rt:d
in
payment,
mily
be reccived as bullion
a l
the al.<"lual price of the mim, or
refufed ,u ,he option of the eredi tor.
18 . Tha! no foreign coin (h211 have any
I<gal
Curren–
cy, cxeept as bullion at the mint priee.
By lheCe or lhe like regu la,ions m.y be preveo,ed,
J1I/1,
The A\elting or exporting of the eoin io general.
'240,
T he rlIeltiog Or exportjng one fpecies,
in
order tO
feH ir
as
bullton,
iH
3n
advaneed priee.
3'io.
The profi t
in acquittiog obligations preferably in one rpecies tO ano–
.her.
4 /0.
The degr.dalion of lhe (Iandard, by lue
wearing or the coi n, or by a eh,lOge iD the pro portia n
bClween the meuls .
S'o,
The circulation of the coi n
belu\V
lhe
lega l weigh t.
9'0,
T he proGt that other na–
l iaos rC'ap by paying lh eir d.:bts more chcaply to Great
Britain t han G r: at
l:3rit~lin
can pay hers to
th(nl .
Ami
(he
~rcat
advantage of it is, that it is ·an unirorm
pl"n, and may
[en e
as a perpetual regulation, compatible
wít h
aJl
kinds of dt:nomioatioos of coi os, variauons
in
lhe
propa rlion of
lhe
m~ldls ,
and \\Iith the impofition of
a
du!
y
upoo coin':lge ; or with
lhe
pn.:fe:rving it free ;
anJ
furth er, lh,u it may in time
ue
adopteJ by othcr natioos ,
who \ViII find lhe aclvantage of ha" ing tbeir moncy of ac–
COlhpl prere. \'cd perrctud.lly al lhe fa me val ue. with re–
fpcét
ro rhe dC'nomipotlOns of ..
11
forcign Illoney of ac–
cump
c!l.blilh..:d on
lhe t:,llBe
principies.
T :\ BT
).: