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PROPOSALS HUMBLY OFFERED to the Honourable House of Commons,
- First, For a WAY, or METHOD, to procure Bullion.
- Secondly, That His Majesty, and Subject, will be Gainers thereby.
- Thirdly, That it will highly tend to the Good of Trade, and Commerce in general, during the time the MONEYS shall be Re-Coining.
Which are as follow, (viz)
IT is Humbly PROPOSED, that, towards regulating, and making a New COIN, Sil∣ver be reduced, and brought to Five Shillings per Ounce: And by way of encouragement to the Subject, for bringing in their Plate to be Coined; which I Humbly Conceive the only way to procure a speedy Supply of Bullion at this Necessitous Juncture.
THE Government, by way of Encouragement, allowing Ten Pounds Interest, for Eighteen Months, for One Hundred Pounds value of Plate, to be brought in to be Coined; and so in proportion for a greater, or lesser Sum; and His Majesty to have the use of the Money, as the same shall be Coined; which may (in a great measure) be compleated in Six Months, and will bring a speedy Supply, by making daily Payments, so soon as the said Money shall be Coined; which Money will Circulate amongst the Subject, and, at the same time, answer His Majesty's present Occasions.
AND by way of further Encouragement to those, who shall bring in their Plate, at the time of weighing, and delivering the same, in order to be Coined, there may be Bills, or Notes, advanced by the Government; with the aforesaid Interest allowed into the same: And the Bills, or Notes, (so advanced, being Stamp't or Marked, to prevent Frauds, or Counter∣fiting the same) be made, to pass from Man to Man, in any Payment whatsoever, which said Notes, or Bills, will supply the use of Money, by settling a Fund for that purpose, as a Se∣curity for the same; and support, and carry on Trade, until such time as the said Eighteen Months shall be Expired, by which time, there may be Coin sufficient to discharge the said Bills, or Notes, otherwise, they may be continued for a longer time, as to Your Great Wisdoms shall seem Meet.
AND the better to enable His Majesty to pay the aforesaid Interest, with Submission to this Honourable House, (I humbly conceive) there may be Two Shillings per Pound discoun∣ted out of the value of Coin, by lessening it Six Pence in every Five Shillings; which Amounts to Ten Pounds per Cent, and will answer the Interest of the Ten Pounds per Cent allowed to those Persons, who shall bring in their Plate so to be Coined; and not only discharge the aforesaid Interest so allowed, but (as I humbly presume) will be a great, and the only means to keep our Money at Home: Which, should Coin be made of the full value with Bullion, in case of a Rise of Bullion, it will be in Dan∣ger of being melted, or carried abroad to supply a dearer Market: And, upon the aforesaid considerations, 'tis to be hop'd, all people will readily bring in their Plate; which did not Cost them above Five Shillings per Ounce, besides the making, they having the present Advantage of using their Moneys, and receiving such Large Interest for the same; which would other∣wise remain in their hands as a Dead Stock and Charge.
IT is supposed, by most People, that the value of Plate, in this Kingdom, exceeds that of our Coin; and considering the great Numbers of Silver Tankards, and other Plate, in all Ta∣verns, Victualling-Houses, and Publick Houses of all sorts, there may be a sufficient Supply from thence (without having regard to greater Quantities in Private Houses) to Coin several Millions, when so brought in; besides what will be brought in by private Houses, under the Encouragements for that purpose. And Publick Houses are very sensible their Plate is of great Disadvantage to them, in many kinds, being glad to embrace such an Opportunity as this may be, [if approved on by this Honourable House] to dispose of the same under such Advantages, and for the preventing such Mischiefs as they have often met with.
BUT should an Unwillingness appear in some Persons, after all the Encouragements before premised, to bring in their Plate, (I humbly conceive) a Duty, or Tax, may be laid upon all persons, as to this Honourable House shall seem convenient, thereby to Obliege them to the same; Goldsmiths and Traders excepted, for the supply of their Shops and Trades: And the said Goldsmiths and Traders to be limited from Buying, or Melting down any Old Plate, for the space of Eighteen Months; which will invite all other persons to bring in their Plate, to be Coined for the Use of the Government. And the Duty, or Tax, so laid upon those who shall not bring in their Plate, 'twill be a help to Repair the Loss, sustained by Clipped and Adulte∣rated Money.
R. B.