gold or silver； but that the Allay being certain； the weight
should remain uncertain； that all Money now current should be
valued by a certain weight。
As for Example； That every ounce weight of Silver should be
valued at 5s。 and every ounce weight of Gold at twelve times as
much； or thirteen times so much； or such a Proportion as should
be thought most equal； and that all former Contracts should be
acquitted in weight； by reducing every 100 l。 sterling； into 400
ounces of Silver； or a proportionable weight of Gold； but that
all future Contracts should be directly made in weight； as in
pounds； ounces； and the Sections of the ounce； either in Silver
or proportionable weight in Gold： That there should be only
coined a certain Proportion of small Moneys in Silver； not in
value above a penny； or two pence sterling； of a certain weight
for the accommodation of small ordinary payments。 But that all
the main mass of Money； both of Silver and Gold； should have no
certain weight imposed on it； but should be current according to
the weight it had； as it should fall out。 The Authors of this
Proposition maintain。
That the first Institution of Money was in this manner。 That
this Addition of certainty of weight to the Allay； by making the
stamp to serve as a publick Testimony that the piece so stamped
or coined is not only of such a fineness but of such weight also；
have given occasion to all the Inconveniences that have since
grown in this Subject of Money； and that there is no other way to
reform these Inconveniences stablely and permanently but by
reducing the Money to this original Institution。
And therefore they say； That the imposing of certain weight
to the piece by the stamp hath given the Opportunity to the Kings
and Common…wealths to help themselves in their necessities；
diminishing the Intrinsical value； and marking the piece of such
a weight； when as really it weigheth not so much； and thus much
may be observed in the first part of this Discourse of the
Historie of the Moneys of the Grecians and the Romans and other
modern States。
They say likewise； That this diminution of the intrinsical
value by subtracting from the true weight of which the several
pieces of Money were first marked； hath introduced that practice
of draining of Money from other Nations； by raising the price of
it； which is the Mischief now grown into this Subject。
They say； That it hath given occasion to the culling of the
heavier Money from the lighter； which is one of the greatest
Instruments of Exportation； that it hath also given the occasion
of washing； scaling； and clipping of Money； mischiefs that are
now grown very frequent。
Lastly； It hath given occasion by the use and wearing of the
old Money to raise the price of the new and weighty Money in the
Estimation of the People； and consequently to melt the old。
But although it should be acknowledged that these
Inconveniences have been introduced by these forms of Coinage now
in use； yet it remains to be considered how they would be
reformed by this new form of Coining。 And first it is true； if
the form were used； it were not possible for any King or State to
make any advantage either by the raising of the price of Money or
diminishing the weight： neither could they indeed make any
Advantage by addition of Allay； if the Proposition be truly
observed。 As for the raising of Money by other Nations； It is
plain that the Observation of this Proposition； here in England；
would not hinder them to raise still； as now they do； but then it
is to be considered； whether their raising would turn to our
Disadvantage as now it doth。
And first； if other Nations raise their Money； they can
neither by that raising make their Moneys valuable to us； nor
make our Money more valuable to them； when as before their
raising or after their raising； they can give it no other value
than by weight； because the pieces are uncertain。
But it may be objected； That when our Neighbours raise their
Money； then will our Money （being al by weight） go further to be
coined into theirs； than it would have done before and
consequently for that profit will be transported until the price
of their commodities do grow up unto their Money。
To which it may be answered； That they cannot set an higher
price upon the pieces of our Money as now they use to do； because
the piece hath no certain weight； then they cannot cull out the
pieces as （now they do） which over…weight； and so by converting
them into their own Money； make benefit of them； so as there is
no way left unto them to make profit of our Money when it is
transported； but to deliver it into the Mint to be here coined
into their Money； in which case the Transporter must of necessity
loose all the charge of the coinage here； together with the Kings
Tribute； and he must also loose the like charge in the place
where he coins it a new。 Both which put together would make so
great a Proportion； as no raising for the drawing of Silver or
Gold； into any State at one time hath hath ever equalled it。
But yet this Scruple remains unsatisfied； That at least the
Bullion； which otherwise would have come unto you； will be in the
mean time diverted until the price of Commodities be grown up to
the value of their Money as it is raised。 But it is manifest；
that all other mischiefs set down before would be taken away by
this Proposition； as culling； washing； scaling and clipping of
Money； for that no benefit could possibly be made by them； and
that equality of Exchange formerly propounded would by this means
be brought the nearest to perfection of any other； for that the
Merchant； first shall understand the true value of his own Money；
and cannot make the account of Exchange in a forrein place； but
by comparing their Moneys in true weight and fineness with his
own； so as he cannot be deceived either by a false reputed value
of his own Money； or of the Money which he is to receive by
Exchange； and therefore will not make his Exchange to loss；
except he be induced thereunto by some other circumstances which
have no relation to the Subject of Money。
But having thus far debated of the Commodities and Benefits
of this Proposition and prevention of former Inconveniences； It
now remains to be inquired what new Inconveniences this
Proposition would bring with it。
And first； The alteration would be very strange； and with
great difficulty would be received by the People in a matter that
is of most general and continual use of all others； in stead of
accounting by a pound sterling； angels； shillings； and groats； to
come now to accompt by Pound weights； Marks； Ounces； Scruples；
and Drachmas； to which the only answer to be made is；
That although the Trouble and Difficultie would be very
great； yet being once settled； it would be settled for ever；
whereas now the Trouble and Inconvenience which the People endure
in this matter of Money is often renewed； but never amended。
A second Objection is； The Extream molestation which the
People should receive in the practice of it； when as every man
should be bound to carry scales in his pocket （as they say they
do in China） and upon every little payment be bound to weigh
their Money。
To which it may be answered； That there have been antiently
Proclamations in England； and very lately in France； to avoid the
frequency of washing； clipping and scaling； to oblige the People
to weigh their pieces of Silver as well as of Gold； but for the
Silver； the People could never be brought unto it； whereas by
this Proposition； of Necessity； every man receives Money must be
tied to weigh the Silver as well as the Gold； and all these
Inconveniences of scaling； washing； culling； and wearing； would
be avoided with a small part of that trouble to the People；which
the weighing of the several pieces of Silver would put them unto；
partly because the least and most ordinary payments would be
accommodated by the small pieces coined of a certain weight； and
partly because the trouble of smaller payments would be
recompenced by the ease of the greater； for by this course a
thousand pounds will be as soon weighed as twenty shillings can
now be reckoned。
A third Objection may be made against it； That by this
Proposition Princes and States would be deprived of the means to
make secret benefit of their Moneys； which hath been continually
practised； and especially in times of eminent necessity； even to
the preservation of Kingdomes。
To this is answered； That the Objection though it be true is
yet of no weight； because that profit so made； is first made
unjustly； and by the breach of publick Faith； and then it is but
a false seeming profit； and always mischievous to the People； and
really not good for the receivers of it。 And （as it was formerly
touched） it may be observed； That after the decay of the Roman
Empire； the Reglements of the Mint of that great Monarchy being
lost； through the Inundations of barbarous People （as many other
excellent Institutions were） the Jews （who by God's Curse were
dispers'd into all Nations； and being suffered to acquire no
natural possessions； betook themselves to artificial possessio