Or put the case Shorter and Plainer, the Government wants 1000000 l. worth of Silver, and is willing to give 25 _per Cent._ more for it than the common price.
If that vast Allowance be made for fear of a sudden and fatal stop to all manner of Trade for want of Money, yet the 250000 l. Saved out of the Clipt Money, will make good the Bargain.
And then Four parts in Five will Coin a Million of Money, and still there will be another 250000 l. worth left towards the paying of the Clipt Million, and but 750000 l. remains Unpaid.
And upon this Easier supposition we will proceed; because it is likewise cheaper to the Nation than the Buying of full 4000000 ounces of Silver.
_Then if the Parliament Orders ’em to be paid_ 250000 l. _more, which is all that the Nation is Burdened in the Bargain: The Proprietors of the Clipt Money are Reimbursed_ 75 l. per Cent. _of what they Brought to the Mint, which is more by_ 25 l. per Cent. _than the intrinsick value of it was; and the other_ 25 l. per Cent. _is coming towards ’em apace. For now the present Necessity and the Dangers of it are obviated, the price of Silver begins to Fall and Settle, as the prospect of a Plenty draws nearer_; tho’ we can never suppose it will fall lower than in other Countries, or much lower at all, during the War between _France_ and _Spain_. _And be it at what price it will, the Merchant will from all Parts bring his Silver to the_ Tower, _because the Market is here Quick and he is sure of Ready-Money for what he Sells; the King can afford now to Coin, which he could not do of late Years; And therefore a Third and Fourth Million will be soon bought and Coined, and the government out of every Million bought will save a Fourth part_.
_For the New-Coin’d Money must bear a proportion to the price of Silver, as four to five, and_ 800000 l. _worth of Silver is to be in_ 1000000 l. _of New Coin no more nor less, and out of the four Million-worth of Silver, besides the Million of Plate the King will have Saved a fifth Million; by which gain’d Millions, the Clipt Money will be entirely Satisfied for at no more than_ 250000 l. _present Cost to the Government_, q. e. d.
For the case will stand thus: There will be 5000000 _l._ of New Coin, _viz._ out of the Clipt Money 1250000 _l._ out of the Plate 1250000 _l._ (or if the last 250000 _l._ be not Coin’d, but Exported, then there will be out of the Plate but 1000000 l.) and out of the last Two Million worth of _SILVER_ Coin’d 2500000 l. So that there will be in the Nation at least Four Millions, Seven Hundred, and Fifty Thousand Pounds New Money.