This has been judicially and fully stated by Mr. _Lownd_’s, who hath shown the undeniable Expediency of keeping up always our Silver Coin, to the present Fineness, as that illustrious and solid Writer Sr. _Robert Cotton_ had likewise shew’d, and therefore I will say nothing on this Topic, lest I should seem to build upon other Mens Foundations; and I the rather omit it, because all that hath, or can be said, against the raising of the extrinsic Valuation of Coin, above the real Value, is applicable to the abasing of it by Allay, and I fully assent to that Axiom, That the debasing our Money, by Allay, and raising the Value of the Standard, is only doing one and the same thing, (to most Intents and Purposes) by two several Ways or Means. Suppose then but two Ways of debasing it, by Quantity, or by Quality, and still that is all but _debasing_ of it, that is, giving it a Value in Name, of more than it hath Intrinsically or Really; for this more than Intrinsic Value, is meerly Extrinsical, supposed, or denominated: in short ’tis a fictitious imaginary Value, and not a real one, above the intrinsic. [Sidenote: _Cotton’s Posthuma_, p. 287.] And this, to say no more of it, is the reviving of that Monster which Q. _Elizab._ of Happy Memory so gloried in the subduing; and I doubt we have Monsters enough to deal with, without reviving more. This is such a devouring Expedient as will immediately swallow down a Part of every Man’s Estate, and at last consume the Nation. The Price of every thing will rise instead of falling. For if we were willing to submit to this at home, yet there is such a Combination, between our Foreign and Home Trade, and the Relation between ’em is so inseparable, that let the State give it what Name it will, it will pass for no more at home than it doth abroad, unless the heavy Balance of Trade was on our side the Water; and it will pass for no more abroad than it is _really_, not _Extrinsically_ or Imaginarily, worth at home. An Act of Parliament can as well make a _Scotch_ Pound pass for an _English_, as half an Ounce of Silver in _England_ to go for an Ounce in _Holland_, without _some Consideration as may Balance the Difference_. Let us call a six peny-Weight of Silver a Crown-Piece, as loud and as long as we will, yet we shall never buy a Pound of Nutmegs with Four of ’em, unless you’ll give the _Dutch_ Merchant a Yard of broad-Cloth, or something else into the Bargain. ’Tis a plain case, that when the _real_ Value of Money is lessen’d, the Price of every thing will Rise accordingly, be the _Extrinsic_ Value what it will. Two Crown-Pieces do not buy a Yard of Cloth, because they contain Ten Shillings, but because they contain almost two Ounces of Silver. Gold and Silver are the universal Pledges and Security of all Trade, in every Nation, and what’s wanting in their Value must some way or other be made Good, more than in Name or Supposition.