111-16)

Author: Isaac Newton

Source: MINT 19/2/69, National Archives, Kew, Richmond, Surrey, UK

Additional Information
- Notes on the Electronic Edition
  - You are currently reading the normalized version of this text. Normalized transcriptions provide a tidied-up view of the original text. Editorial interventions are applied to expand abbreviations and correct textual mistakes. Additions are silently included within the body text and deleted text is not displayed. Switching to the diplomatic view of this text will show 28 deletions, reveal 18 additions and not apply 7 editorial regularizations.
- Revision History
  - 1 January 2001
    - Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young
  - 29 September 2011
    - Catalogue exported to teiHeader by Michael Hawkins
  - 17 October 2019
    - Transcribed by Kees-Jan Schilt
- Download MINT02014.xml and schema (advanced users only)
Related Texts
- This document is a version of:
  Response to an order to report on gold and silver coin in Britain [MINT 19/2/111-16]

<69r>

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

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

Gold is therefore in Spain & Portugal of 16 times more value then silver of equal weight & allay. At which rate a Guinea is worth 1^£ 2^s 1^d [And . this undervalluing of silver carries 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 21^s 6^d is to the fine gold in a Guinea in weight as 15∟5717 to 1. by the standard.

In France the Silver in four new Lewisses is to the Gold in a new Pistole as 15 to 1 by the french standard. At which rate a Guinea is worth. 1 0. 8 $\frac{1}{2}$ .

In Holland A Ducat of Holland & the Empire is is vallued at 5 Guilders & 5 styvers [that is, at so much fine silver as is conteined in 9^s. 1 $\frac{1}{4}$ ^d English At which rate a Guinea is worth 20^s 7 $\frac{1}{2}$ ^d.

In Italy & Germany & the Northern kingdoms a Guinea may be worth 20^s & 7^d 6^d 5^d or 4^d 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 payments in Gold & will not pay in silver unless for a premium of about 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 sufficiently preserved from exportation & from the melting pot.

That the Shillings then coyned being lightned about 2 $\frac{1}{4}$ per cent are also thereby preserved from the melting pot.

5 That the half crowns then coyned are lightned about 1 $\frac{1}{4}$ per cent & the Crowns about $\frac{1}{2}$ or $\frac{3}{4}$ per cent. Which tends to the preservation of these species

That the new French Lewid'ors are coyned coarser then the French standard by about 2^d 0r 3 $\frac{1}{4}$ in the Lewidor & that the new Lewises are coyned finer then their standard by about 1 $\frac{1}{4}$ in four Lewises. And this also tends to hinder our silver from going into France & their Gold from coming into England