The Regulating Silver Coin, Made Practicable and Easie, to the Government and Subject — John Shaqi
The Regulating Silver Coin, Made Practicable and Easie, to the Government and SubjectPratt, Samuel
History
The Regulating Silver Coin, Made Practicable and Easie, to the Government and Subject
Pratt, Samuel
Coinage -- Great Britain -- Early works to 1800; Great Britain. Parliament -- Early works to 1800
_Let the Days of its Payment be fix’d by_ _PARLIAMENT_, _either
Quarterly, Annually, or Triennially. If the Establish’d Interest be Five
Pounds_ per Cent. _then, perhaps, Annually will be thought most
expedient, in some Month when the Days are long. If the Wisdom of_
Parliament _shall think fit to give more Interest than Five Pounds_ per
Cent. _then there is Visible Reason, why it should be Quarterly. If less
than Five Pounds_ per Cent. _a Triennial Payment may suffice_. But
suppose it Yearly.
_Let Three hundred Commissioners be named by_ Parliament, _One hundred
of which for_ London, Westminster, _and_ Southwark, _the Two hundred for
the Country, to be not above Twenty Miles distant from one another, so
that no body can live farther off than Ten Miles from one Commissioner
or other_.
_Let these Commissioners be the most Substantial Gentlemen or Citizens
in the most Popular Towns and Cities in_ England, _giving in sufficient
Security to the Government for Performance of Their Trust_.
_At the Day appointed let the Money be brought to the Commissioners
Houses in Hundred-pound Baggs, and there open’d and weigh’d, and then
seal’d up with the Proprietor’s Seal, in the presence of the said
Commissioner, Entering down in a Register every man’s Name in one
Column, the Weight of the Money in another Column, and the Interest it
amounts to in a third._
_Let none be Receiv’d after Twelve of the Clock at Noon, and none
Re-delivered till One of the Clock, to prevent Frauds in bringing the
same Money twice for the same Interest._
_Then, in the Afternoon, let every man’s proper and individual_ Money,
_Seal’d up as aforesaid, and Weighed again in the sight of the
Proprietor, be deliver’d, with the_ Interest _due for it_.
_For which One Days Trouble in a Year, I do suppose, the Government may
allow the Commissioners Twenty Pound a man; which amounting to Six
thousand Pounds_ per Annum, _for all the Commissioners of_ _ENGLAND_,
_and suppose Three of the Five millions, whereas I supposed at first_
2500000 _l. only to demand Interest, it will amount to but Thirty
thousand Pounds_ per Annum, _and this Six thousand Pounds_ per Annum
_for the Commissioners added, makes but Six and thirty thousand Pounds_
per Annum.
_Now, whereas a Land-Tax of Four Shillings in the Pound amounts to_
2000000 _l. a Tax of a Penny in the Pound amounts to_ 41666 _l._ 13 _s._
4 _d. so that_ 5666 _l._ 13 _s._ 4 _d._ per Annum _Remains_.
_Allow the Commissioners then Thirty Pounds apiece, and there remains_
2666 _l._ 13 _s._ 4 _d. for a Superintendant, Auditors, Registers,
Register-Books, and other incident Charges; and the whole matter is
brought within a Tax of a Penny in the Pound_, q. e. d.
Public-domain text, read in full here on John Shaqi.
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