And yet our Coin being altogether insufficient, we must provide for a considerable Quantity more.
The Quantity we want must be imported according to our Occasions, or what we have already, be augmented, by altering the Species, or by coining out our Plate.
It cannot be soon enough imported in such great Quantities as we at present want, and yet if we could immediately buy it from abroad, we could not afford to coin what we buy, without altering our Coin from the old Standard, seeing our Necessity of having it, will make its Price rise abroad.
Therefore I shall refer what I have more to say, concerning Importation, to the Chapter of Exportation, and first speak of altering our Coin, for ’tis evident we must alter our Coin, as well as coin our Plate, or otherwise our Plate will last us but a little while, and in the mean time we may admit this Conclusion.
That England must be as good a Market for Silver as other Countries, or we shall have little imported, be it never so plentiful abroad.
CHAP. IV.
Of Altering our Coin.
There are Three Ways of altering our Coin.
I. First, By not altering the Species of the Money, but the Value of it, as making a Crown Piece go for 6 or 7 s.
II. Secondly, By diminishing the Matter, but leaving the same Name, and there is no essential Difference between these two Ways.
III. Thirdly, by abasing the Fineness with more than ordinary Allay.