Any goods that have the qualities necessary in money, may be made money equal to their value. 5 ounces of gold is equal in value to 20 lib. and may be made money to that value. an acre of land rented at 2 bolls of victual, the victual at 8 lib. and land at 20 years purchase, is equal to 20 lib. and may be made money equal to that value, for it has all the qualities necessary in money. but that acre of land cannot be coin’d to the value of 50 lib. no more than the 5 ounces of gold. and tho’ the 5 ounces of gold, the 20l. silver-money and the acre of land, be now equal in value; yet they cannot well continue so: for as I have shown already, any disproportion’d change in the quality, quantity, or in the demand of either of them, will make the same quantity of the one, equal to a greater or lesser quantity of the others. land is what in all appearance will keep its value best, it may rise in value, but cannot well fall: gold or silver are lyable to many accidents, whereby their value may lessen; but cannot well rise in value. CHAP. VII. _The proposal with reasons for it._ To supply the nation with money, it is humbly propos’d, that 40 commissioners be appointed by parliament, answerable to parliament for their administration, and the administration of the officers under them: the nomination of these officers being left to the commissioners. That the commissioners have power to coin notes: which notes to be received in payments, where offer’d. That a committee of parliament be appointed to inspect the management, and that none of the commissioners be members. That the commission and committee meet twice a year at Whitsunday and Martinmass; their meetings, to begin 10 days before, and to continue 10 days after each term. There are three ways humbly offer’d to the parliament, for giving out these notes: they in their wisdom may determine which will be most safe. 1. To authorize the commission to lend notes on land security, the debt not exceeding one half, or two thirds of the value: and at the ordinary interest. 2. To give out the full price of land, as it is valued, 20 years purchase more or less, according to what it would have given in silver-money, the commission entring into possession of such lands, by wadset granted to the commission or assigneys; and redeemable betwixt and the expiring of a term of years. 3. To give the full price of land, upon sale made of such lands, and disponed to the commission or assigneys irredeemably. That any person shall have such bonds, wadsets, or estates assigned or dispon’d to them, upon paying in the value to the commission. That the commission don’t receive other money than these notes. That no person who has contracted for these notes, shall be obliged to receive silver or metal money. That the commission have not power to coin more than 50000 lib. at a time, and that no more be coin’d so long as there is 25000 lib. remaining in the office.