A word in season about guineas, and the poor's clipp'd mony

A word in season about guineas, and the poor's clipp'd mony

Table of contents

A Word in Seaſon about GƲINEAS, and the Poor's CLIPP'D MONY.

A Word in Seaſon about GƲINEAS, and the Poor's CLIPP'D MONY.

[Page]

GUineas at Thirty Shillings is a very great Evil to us; the Nation's Loſs thereby is one third of the value of the Coined Gold we have, and no Remedy, unleſs they who intoxicated us do the like (for no other will do ſo wickedly) to ſome other Country, and they take our Gold from us at that price, which, I believe, to be impoſſible; tho', if they could, to do it to them were leſs Unnatural, than their having done it to their own Country. I need not name the chief Projectors and Promoters of this Evil: It is well known who pleaded for it, and who againſt it the laſt Summer at the Council-Board, their Excellencies the Lords Juſtices then preſent; and who, before and ſince, have all along been remitting Mony to fetch in Gold from Holland, &c.

It is agreed by all, That Guineas ought to fall unto Twenty Two Shillings; every one ſeems content that it ſhould be ſo in time, and why not now? The Loſs will be more to the Nation ſix Months hence, becauſe there will be daily more Gold and Guineas in it than now, and no Man can be ſure that he ſhall have leſs of them. But what ſhall we have for Payments? Why, our New-Coined Mony and the Guineas we have; for no other Country will take either from us, if we reduce Guineas to that Price. When Foreign Exchanges are in our Favour (as they will then be) our New Coin and our Broad Mony will remain with us, otherwiſe it will not; and theſe, with the Bank of England's Bills (now acceptable to the Nation, and more uſeful for great Payments) will ſupply and quiet us.

If the meaner People (as they did a while ago in Old Groats and Half Crowns, with much Eaſe) would now cry down Guineas to 22 s. or 22 s. 6 d. the Rich will pay them ſo; for that it can be no Man's Intereſt to Hoard them at that Price: Beſides, continuing Guineas at 30 s. will coſt the Nation 500000l. extraordinary, in Paying our Armies and Fleet abroad, and render it very difficult; the ill Conſequences of which are obvious.

If the Parliament pleaſe to make the Stock-Jobbing of Guineas Penal, it would prevent many Inconveniences to the Nation in general.

I hear of no Proviſion made in the Coin-Act for thoſe who are unable to lend to the King; theſe are Numerous, their Neceſſities are great, they will be Clamorous, our Enemies will improve it, and the Conſequences may be very ill to the Kingdom. Why might not every Pariſh or Hundred be obliged to take from the meaner People and Poor, all their baſe Silver Mony, and give them Credit for it at preſent, and New Coin when they can? The ſaid Pariſhes or Hundreds may pay their Taxes with it, and lend to the King, whereby they will be repaid in New Mony.

All this may be done with Eaſe, and with little or no Charge, and it will prevent the putting Guineas upon the meaner and poor People at Thirty Shillings, which when they come to loſe by (as they muſt) will renew their Neceſſity and Complaints, and then our Enemies will put the Nation into a ſecond Ferment, more dangerous than the firſt, and at a worſe time when the King is abſent, and no Parliament Sitting.

London, January, 1695/6.

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Title statement

A word in season about guineas, and the poor's clipp'd mony

Edition statement

1696

Publication

Publisher

Text Creation Partnership,

Place of publication

Ann Arbor, MI ; Oxford (UK) :

Date

2009-03 (EEBO-TCP Phase 1).

ID [DLPS]

A67041

ID [STC]

Wing W3544

ID [STC]

ESTC R221052

ID [EEBO-CITATION]

99832432

ID [PROQUEST]

99832432

ID [VID]

36905

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Early English books online.

Notes

(EEBO-TCP ; phase 1, no. A67041)

Transcribed from: (Early English Books Online ; image set 36905)

Images scanned from microfilm: (Early English books, 1641-1700 ; 2143:7)

Source

— A word in season about guineas, and the poor's clipp'd mony,

Extent

1 sheet ([1] p.)

s.n.,. [London :: 1696]. (Dated at end: London, January, 16965/6.) (Reproduction of the original in the Goldsmiths' Company Library.)

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