A report containing an essay for the amendment of the silver coins

The Fifth General Head Considers what must Supply the Commerce, Pay Taxes, &c. whilst the Clipt Money is under its New Fabrica∣tion.

THis Question is to be An∣swered, by Reminding your Lordships of several Particulars which have al∣ready occured in this Re∣port, with a small Addition, as follows.

First, The Weighty Money (both Mill'd and Hammer'd) now Hoarded, will come forth at a Raised Value, which (according to the above Estimation) may make One Million and Six hundred thousand Pounds more or less; besides the Guineas and Half Guineas, which are but too numerous at their present Rate.

Secondly, The Bills for the Clipt Mo∣ney will be so Profitable and Certain,

and have such a quick Course of Payment, as aforesaid, that they will serve as so much Running Cash; and in the coming forth, the Number of them will encrease from day to day; that from First to Last, they will by Estimation amount to above Three Millions.

Thirdly, As those Bills are Paid off, the New Moneys Coin'd, with the Silver of the Clipt, will come in their stead, the Fabrication whereof will begin pre∣sently, and the Work will be Carried on with as much Expedition as can be made by Ten Mints.

Fourthly, Importers of Bullion, and all others that have or can have any Foreign or English Silver (even the Silver of Coun∣terfeit Moneys) in their Hands, will have a visible Encouragement to carry the same forthwith to the Mint to be Coin'd.

Fifthly, It may be Enacted, That all Persons that Sell Wine, Strong-waters, Bear, Ale or other Liquors by Retail, shall by a Prefixt Day, bring their Tankards, Cups, Dishes and other Plate to some or one of the Mints, to be Coin'd into New Money, at the Rate of Six Shillings and

Five Pence Half-peny an Ounce, under Pain of Forfeiture thereof, and that the New Money proceeding from the same shall be Delivered to them according to the present Course of the Mint.

I have ( my Lords ) in this difficult Matter Considered and Digested as many things as were possible for me in so short a time; and I cannot forbear (before I end) to Alledge, that if the Coins are to be A∣mended and Established according to these Propositions (which may be Rectifi∣ed and Improved by Men of greater Judg∣ment and Skill) I cannot foresee that e∣ven whilst the Work is Carrying on, there will Accrue such Publick Disorder, Da∣mage or Distress, as the Nation Labours under before the Work is put in hand.

All which is most humbly submitted to Your Lordships great Wisdom and Iudgment.

WILLIAM LOWNDES.

12 Septemb. 1695