Of introducing two different Species of Money The Difficulties and Debate of the former Proposition have produced this,set down in the title of this Chapter:For if to let our Money stand still in the same condition,when our Neighbours do raise theirs,be a means to drain away our own Money from us,and to divert that increase of Stock which otherwise should come unto us,and consequently occasion the decay of our own Trades and Manufactures,and the increase of Forrein,as in the former Propositions hath been disputed,Then it were good to raise our Moneys when our Neighbours raise theirs.But if this raising of our Moneys do introduced an unjust Oppression to all those,who do live upon the Rents of their Lands,upon Pensions,upon Fees,upon Wages,or otherwise upon any other Reward of their Industry,if it most of all disables the King,and in the end doth threaten an extream Confusion and Disorder,then is this good of Raising so allayed with the evil that followeth it,that we were as good if not better to be without it:From these Considerations hath this Proposition risen,by which,the Authors thereof do presume,that we may both raise our Moneys as we find occasion and yet not raise;though they seem contradictory:and we receive all the Benefits,which the raising of Money doth bring with it,and yet avoid all the Inconveniences which are alledged to follow it.Now the Propositions which have been made in this kind,both here and in other parts are very many,and differing one from another in their Proportions,and in some other subtile and by considerations,which if they should be set down in particular,would much perplex the Subject.I will therefore by supposition set down a Proposition in a plain and easie Proportion for the more ready apprehension of the Reader.
As for Example,Suppose the King should coin new twenty shilling pieces,which should hold in intrinsical value but eighteen shillings and four pence in Proportion to the present Gold;and new shillings,which should hold but eleven pence in Proportion to the shillings of the present standard,and then it should be ordain'd,that all former Contracts already past,should be acquitted in old Money,or else in new Money,valuing every 20s but at 18s 4d and so in Proportion of lesser sums;but that all new contracts should be paid afterwards in new Money,or else in old,valuing every 18s 4d of the old Money at 20s of the new.By this means,say the Authors of this proposition,we shall bring back our own Money at 20s and drain away the Money of our Neighbours,and trades and Manufactures shall flourish in consequence;yet our Moneys are raised,and yet no man shall receive any injustice by it,for both the King and all other Lords of Lands or contracted upon former Wages,shall be paid in Money formerly current,or else in new proportionable to the old.
