Page:PettyWilliam1899EconomicWritingsVol2.djvu/134

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Sir William Petty's

Quantulumcunque^[1] concerning Money, 1682.

 

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To the Lord Marquess of Halyfax.

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SUppose that 20s. of new mill'd Money^[2] doth weigh 4 Ounces Troy, according to Custom or Statute. Suppose that 20s. of old Eliz. and James's Money, which ought also to weigh four Ounces Troy^[3], doth weigh three Ounces Troy; and vary variously between 3 and 4 Ounces, viz. none under 3, and none full 4.

Suppose that much of the new mill'd regular Money is carried into the East-Indies, but none of the old light and unequal Money.

 

QUESTIONS.

Qu. 1. Whether the old unequal Money ought to be new Coined, and brought to an equality?

Answ. It ought: Because Money made of Gold and Silver is the best Rule of Commerce, and must therefore be equal, or else it is no Rule; and consequently no Money, and

1. Quantulumcunque: something, be it ever so small. (Wikisource contributor note)
2. English money was first generally milled in 1662. Lowndes, Report, 95—96.
3. An approximate weight. In fact 12 ounces Troy of standard silver were coined into 62 shillings.