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Twelve Hundred thousand Pounds being Voted to make good the Deficiency of the late Currant Coyn of this Kingdom, 'tis to be understood and taken for Granted,
THAT all such Money now in, and to be henceforward received at the Ex∣chequer, must be by Tale reckoned as Standard-money of England, and in such to be issued thence. And
Forasmuch as the Time by the Proclamation given for the Currency of the Clipt Money is so short, and the Opportunities for parting with it, that are hitherto given, being only by Taxes and Lones, it may well be imagined that great part of such Money (notwithstanding the 1200000 l. as aforesaid, voted to supply the Deficiency) will remain in the Hands of many possest of it when the Currancy ends, to their Damage, great Dissatisfaction and Loss; For lessening which Incon∣veniencies as far as the Matter will bear, 'tis humbly Propos'd,
That as well for the Raising one Million of ready Money for the present Use of the War, as to give Opportunity to those possest of Clipt Money to part with the same to content;
That 225000 l. yearly (which two Thirds of the Additional Duties this next year expiring may furnish) be setled for five years for the Payment of Forty shillings yearly for such five years, to such as in Hammered Money shall pay in nine pounds, for the Receipt of which, in a time to be limited, a Receiver may be appointed in each Shire-Town in England, and to every Person so paying nine pounds, may at the same time be provided to give out five Bills, entituling the Bearer to Forty shillings for each of the five years, on which Bills it should like∣wise be printed, what each Bill on a Rebate of 5 per Cent. is every year worth rea∣dy Money, which without any Compulsion would give them such Currancy they would in all Payments be preferred before Money it self; and as a further Conve∣nience it may be so contrived, as that the truth of them may not only be tried here in London, but in other great Towns, and must be particularly so to be in the Shire-Towns where first given out; and as yet a farther Convenience in this Con∣trivance, There being a Tax upon Houses voted, which being to be Received in the Country, may be yearly paid in those Forty shilling Tickets, and so keep the Money there, which will be the same thing to the Crown, and give Satisfaction to the People by so having their Security at home, and leave the best third of the additional Duties to raise more Money, besides the Million aforesaid.
Now for taking in the rest of the Hammer'd Money.
A Receiver may be also appointed in every Shire-Town, provided to give out such like Bills (but each of 5 l.) as aforesaid, for every 5 l. brought to him, enti∣tleing the Bearer to 5 l. at the Exchequer at any time in the Year 1697 and to be at any time taken for any Tax by the King in the mean time; and may be as afore∣said so contrived, as not only to be tried here in London and other great Towns, but particularly in the Shire-Town where the same were first given out, and so can∣not be Counterfeit, if brought there only to be tried.
And therefore will in a great measure supply the want of coined Money, till coin∣ed, be a certain Security to those that part with their Money, that they shall have it again in New Money, the Old and the 1200000 l. given being to be appropria∣ted for it; and the Receiving these Bills in the mean time for Taxes by the King, will be no Inconvenience, for there will be always sufficient in Bullion brought in, as aforesaid, to make them ready Money, it being in such Case to be Enacted, That for as many of such Bills as shall be taken for Taxes, the Money appropriated for the paying such Bills in the Year 1697. may immediately be used by the Crown.