FOR above Twenty Years past Guineas have been commonly Received and Paid at 21s . 6d . a small matter more or less , till of late , and within a Year last past , by the Evil Designs of the Enemies to the Kingdom , and for Private Interest , the Silver Moneys were Clipt above One Third Part less , and the Gold raised above One Third Part more in value , than what it was Coyned for , which hath notoriously brought the present Inconveniency upon us , in respect to our Coyn .

Therefore I humbly conceive it absolutely Necessary , and not beyond the Wisdom and Power of the Nation , speedily to remedy this Evil ; which , with Submission , I am apt to believe is easily done , by settling Guineas at 21s . 6d . without any such dangerous Consequences as by some are Objected . As , 1. The People will not bear it . 2. It will be all Carried away . And , 3. Not lent to the King .

For my Opinion , I offer the following Reasons , and Answer to those Three Objections .

1. And say , The People will bear it . If Guineas are settled by Act of Parliament at 21s . 6d . for Currant and Lawful Money of England , with a Liberty for the King or Subject voluntarily to accept or receive them in Payment , or Purchase them with Silver , at any Price not exceeding 22s . upon severe Penalties , it will be so near the Intrinsick and Proportionable Value of our Broad Silver and Mill'd Money , that it will immediately restore to us the use of all our Gold and good Silver Coyn in the Nation ; which in a great measure will supply the Occasions of the King , and satisfie the People : And till they are settled , some keep up the Gold , and others the Silver Unclipp'd and Mill'd Money , and so leave no Money at all to supply the Necessities of the Poor . I have heard the Pretences on all sides , and conclude , That not One Man of a Thousand will be any considerable sufferer in this matter throughout the Kingdom . There may be Five Hundred or One Thousand Men that have above Five Hundred or One Thousand Guineas each ; which are the Men that may or will make most noise against it , and endeavour to keep them up to 26s . or higher : And many of them may have gotten as much by the Rise , as they will lose by the Fall ; and the Fall cannot Undoe them : They are best able to bear it . I most pity the Midling sort of People , Tradesmen , Farmers , Tenants , &c. both in City and Country : But for them in our present Exigency , and in this General Calamity , which is like a Fire in a City or Town , which affects not but where it falls ; I can see no better Remedy than to prevent the farther Increase of it . The General Cry of the Poor and Midling People , is for to have Guineas settled at any Rate : And it is better for every Man to bear his present Loss , than to be Undone for want of Trade , which is like to come to a full stop . And therefore I conclude , The People will bear it .

2. It will not be all Carried away . For the Dutch , or Jewes in Holland , cannot make a better Interest of their Money , nor on better Security than they can here : For there they have usually Moneys at 3 or 4 per Cent . and here they receive 6 , 7 or 8 , it may be more . And though it s commonly said , That Guineas are more worth there than here ; They have never yet been so , nor indeed can they be , unless Holland will Clip and Debase their Silver Coyns as we have done , and so start their Gold as we have done . But many take these things in a wrong Nation ▪ for Gold and Silver are of the same Value in England ; as in Holland , or any other part of the World , even in Mexico and Peru . A Pound or Piece of Gold or Silver Coyn , can be worth no more ( the Charge of Coynage excepted ) than the Gold or Silver that is in it ▪ Therefore that 's no Inducement to Carry it away .

3. It will be Lent to the King . ( And be better for His Majesty and the Nation by a Fifth Part of all the Supplies given Him , and they will go a Fifth Part farther than at 26s . ) For during the Wars , People will not be forward to Trade with it : Nor will they be so angry at the Fall of Guineas , ( because they cannot pay them at 26s . ) as to make no use of them And as long as there are good Funds , they will not keep their Money in a Chest , and make nothing of it . But if they are not content with 6 , 7 or 8 , per Cent . Interest , all Considering Men will grant , I hat in case of Necessity , it 's better for the King , or Government , to allow 10 or or 12 per Cent . Interest , or to allow 3 or 4 per Cent . for an Inducement , rather than to take Guineas at 26s . which is full 20 per Cent . above their Real Worth , or Intrinsick Value , besides the Interest . And therefore I conclude , It will be Lent to the King .

I shall only add , That if Guineas be settled , in their Proportional Value to our Silver , which is at 21s . 6d . as aforesaid , the Country will not want so much New Money to Change their Clipt . And if they be not so settled , or some other Methods taken , the Clipt Money cannot be taken in in time . I am also of Opinion , That if the Gold were so settled , we should need no other Mints to be Erected in England ; And the Coyning of Gold might be incouraged , if not Guineas , Pieces of 15 or 30s . But I am loath to trouble you by Prolixity , therefore conclude and remain ,