Such an Importation of Money would I fear, be of worse Consequence than all our Exportation of Silver and Gold can prove.
If what cost our Merchants a Shilling, they should sell for a Groat, or if they shall buy of us an Ounce of Gold for Three or Four Ounces of Silver, or supposing ’em to buy it at 6 s. 6 d. per Ounce, they shall buy an Ounce for as much Counterfeit Money as shall not have 7 Peny-Weight of true Bullion in it, this would give our Balance of Trade, such a Terrible Swing, as no true Hearted English-Man would be willing to see.
This is a Danger which the easiness and small Charge of counterfeiting old Clipp’d Money threatens very much, unless it be speedily cry’d down.
And in the mean time, let us consider the Condition of the other Coin among us, not counterfeited, but Clipp’d, fil’d, or otherwise diminish’d.
’Tis plainly demonstrable by the Receipts of Money in His Majesty’s Exchequer, that one half of the Silver is already Clipp’d away, and there is no Security why half what remains wo’nt be taken off too.
The Laws are severe enough made, and put in Execution, and yet New-Gate is perhaps now as full of Clippers as it was Three or Four Years ago.
Nothing but a Sense of Religion doth restrain Men from profitable Sins, and the Ordinary of New-Gate can inform us, how little the Guilt of Clipping affects the Criminal’s Conscience.
Nor will preaching do much Good, upon those that never come to Church.
Clipping is the gainfulest Sin that ever was invented, and sits the easiest upon the Sinner’s Mind, and ’tis never to be remedied but by making it impracticable, which Mill’d Money only (and no other to be current) can do.