Money and Trade Considered [16]
known any thing of Exchange, a Lue d'ore at Amsterdam whether new or old, has been of more Value by Exchange, than a new Lue d'ore at Paris. And in the time of the Clipt Money, a Guinea in Holland was worth more by Exchange, then a Guinea in England. These who were Ignorant of the Exchange, might buy up guineas or Lue d'ores, to carry to England or France, but they would have got more by Bill. There was a Profit then upon Exporting Guineas and Lue d'ores from England and France to Holland. The Pound English at that time was given for 8 guilders, or under; and the Exchange from Amsterdam to Paris has been these 8 or 10 Years for the most part, considerably above the Par on the Dutch side. I have known the Pound English at 7 guilders 13 Stives, and the French Crown of 3 Livres bought in Holland for 37 Stivers, in London for 39 Pence half Penny. Raising the Money in France is laying a Tax on the People, which is sooner pay'd, and thought to be less felt than a Tax laid on any other way. When the King raises the Lue d'ore from 12 Livres to 14,
they are taken in at the Mint for 13 Livres, and given out for 14; So the King gains a Livre on the Lue d'oro, and this Tax comes to 20 or 25 Million of Livres, sometimes more, according to the Quantity of Money, it stops the Circulation: A part being kept up till there is occasion to Export it to Holland, from whence a return is made by Bill, of a sum of Livres equal to the same Quantity of new Lue d'ores that were Exported of old ones, and 8 to 10 per cent more, according as the Exchange is on the Dutch side. Others who won't venture to send the Money out, keep it till the new Money is cry'd down, so save a 13th part, which the King would have got if they had carried the Money to the Mint to be Recoin'd. This Tax falls heavy on the poorer sort of the People. It's thought the Dutch Coin Lue d'ores, and send them to France, where they pass at 14 Livres. And, that Guineas were sent from Holland to England, in the time of the Clipt Money, because they past there for 30 sh. But these People are misinformed. Ever since I have know any thing of Exchange, a Lue d'ore at Amsterdam whether new or old, has been of more Value by Exchange, than a new Lue d'ore at Paris. And in the time of the Clipt Money, a Guinea in Holland was worth more by Exchange, than a Guinea in England. These who were Ignorant of the Exchange, might buy up Guineas or Lue d'ores, to carry to England or France, but they would have got more by Bill. There was a Profit then upon Exporting Guineas and Lue d'ores from England and France to Holland. The Pound English at that time was given 8 Guilders, or under; and the Exchange from Amsterdam to Paris has been these 8 or 10 years for the most part, considerably above the Par on the Dutch side. I have known the Pound English at 7 guilders 13 Stivers, and the French Crown of 3 Livres bought in Holland for 37 Stivers, in London for 39 Pence half Penny. Raising the Money in France is laying a Tax on the People, which is sooner pay'd, and thought to be less felt than a Tax laid on any other way. When the King raises the Lue d'ore from 12 Livres to 14, they are taken in at the Mint for 13 Livres, and given out for 14; So the King gains a Livre on the Lue d'ore, and this Tax comes to 20 or 25 Million of Livres, sometimes more, according to the Quantity of Money in the Country. But so far from adding to the Money, it stops the Circulation: A part being kept up till there is occasion to Export it to Holland, from whence a return is made by Bill, of a Sum of Livres equal to the same Quantity of new Lue d'ores that were exported of old ones, and 8 to 10 per cent more, according as the Exchange is on the Dutch side. Others who won't venture to send the Money out, keep it till the new Money is cry'd down, so save a 13th part, which the King would have got if they had carried the Money to the Mint to be Recoin'd. This Tax falls heavy on the poorer sort of the People. Its generally thought the Dutch Money is not worth half what it passes
they are taken in at the Mint for 13 Livres, and given out for 14; So the King gains a Livre on the Lue d'oro, and this Tax comes to 20 or 25 Million of Livres, sometimes more, according to the Quantity of Money, it stops the Circulation: A part being kept up till there is occasion to Export it to Holland, from whence a return is made by Bill, of a sum of Livres equal to the same Quantity of new Lue d'ores that were Exported of old ones, and 8 to 10 per cent more, according as the Exchange is on the Dutch side. Others who won't venture to send the Money out, keep it till the new Money is cry'd down, so save a 13th part, which the King would have got if they had carried the Money to the Mint to be Recoin'd. This Tax falls heavy on the poorer sort of the People. It's thought the Dutch Coin Lue d'ores, and send them to France, where they pass at 14 Livres. And, that Guineas were sent from Holland to England, in the time of the Clipt Money, because they past there for 30 sh. But these People are misinformed. Ever since I have know any thing of Exchange, a Lue d'ore at Amsterdam whether new or old, has been of more Value by Exchange, than a new Lue d'ore at Paris. And in the time of the Clipt Money, a Guinea in Holland was worth more by Exchange, than a Guinea in England. These who were Ignorant of the Exchange, might buy up Guineas or Lue d'ores, to carry to England or France, but they would have got more by Bill. There was a Profit then upon Exporting Guineas and Lue d'ores from England and France to Holland. The Pound English at that time was given 8 Guilders, or under; and the Exchange from Amsterdam to Paris has been these 8 or 10 years for the most part, considerably above the Par on the Dutch side. I have known the Pound English at 7 guilders 13 Stivers, and the French Crown of 3 Livres bought in Holland for 37 Stivers, in London for 39 Pence half Penny. Raising the Money in France is laying a Tax on the People, which is sooner pay'd, and thought to be less felt than a Tax laid on any other way. When the King raises the Lue d'ore from 12 Livres to 14, they are taken in at the Mint for 13 Livres, and given out for 14; So the King gains a Livre on the Lue d'ore, and this Tax comes to 20 or 25 Million of Livres, sometimes more, according to the Quantity of Money in the Country. But so far from adding to the Money, it stops the Circulation: A part being kept up till there is occasion to Export it to Holland, from whence a return is made by Bill, of a Sum of Livres equal to the same Quantity of new Lue d'ores that were exported of old ones, and 8 to 10 per cent more, according as the Exchange is on the Dutch side. Others who won't venture to send the Money out, keep it till the new Money is cry'd down, so save a 13th part, which the King would have got if they had carried the Money to the Mint to be Recoin'd. This Tax falls heavy on the poorer sort of the People. Its generally thought the Dutch Money is not worth half what it passes