First Scheme.

THE first Scheme, I shall take Notice of is that which is for raising the English Crown to 5s. 7d. ½, and the other Coins in Proportion.

If the Crown should be thus raised, then to preserve the English Proportion between the Crown, and our Gold Species, as near as conveniently we can;

as will appear by the following Table, wherein the Irish Values of 100l. English in each Species so raised are set down.

This Scheme has this to recommend it, that it preserves a pretty just Proportion in the Values of the several Species; but then by raising all our Species so high, ’tis manifestly injurious to all Landlords, Creditors, and other Persons, who are by Agreement, pay or salary, to receive any certain legal Sums; for in the Discharge of the said Sums, they will receive less Gold and Silver by 2 or 3 per Cent. than they would have done before the Raising, and consequently will feel the Loss in the Price of all Commodities, they shall have occasion to buy, which will always rise in Proportion as Money is raised.

As to the Merchants Scheme, which proposed to raise the Crown to 5s. 7d. ½, and the Pistole to 18s. 8d. and to leave the Guinea and Moydore as they are at present; it is so much out of all due Proportion in every Species, especially between the English Gold and Silver, that it would only serve to introduce in another Manner the same Disproportion and Evil, and the same Traffick in Money which we have already suffered by.

This Disproportion appears by the following Table wherein the Irish Value of 100l. English in each Species so raised are set down.