Martis, 14 die Februarii;

11° Gulielmi Tertii.

Prayers.

Claims for Prizes.

A PETITION of Colonel Richard Kirkby, late Commander of his Majesty's Ship the Southampton, in behalf of himself and Company, was presented to the House, and read; setting forth, That the said Ship, amongst others, in the Year 1694, were under the Command of Admiral Russell, in the Straits; where cruising on the 18th of January 1694, the Petitioner engaged a French Man of War, called the Content, of 54 . . . . . and took her, with the Assistance of the Plymouth and Carlisle; and the Falmouth and Adventure took another French Man of War, of 44 Guns, called the Trident, at the same time, being in Company together: That the said Prizes were afterwards fitted into his Majesty's Service, by the said Admiral, and brought to England, in the Fleet under his Command: That, almost ever since the Taking of the said Prizes the Petitioner hath been in the King's Service beyond Sea, and never had any Share of the said Prizes, as the Act of Parliament, in such Cases, directs; neither can the Prize-Office give any Account of their Condemnation, or Disposal: And praying the House to take the Premises into their Consideration; and direct, That the Petitioner, and his Ship's Company, may have their Shares of the said Prizes, pursuant to the said Act.

Ordered, That the Consideration of the said Petition be referred to the Committee, to whom the Petition of Captain Crow is referred: And that they do examine the Matter thereof; and report the same, with their Opinion therein, to the House.

Duty on Leather.

A Petition of the Fraternity of Glovers, Leatherdressers, and other Dealers and Sellers of Leather, within the Borough of Evesham, in the County of Worcester, was presented to the House, and read; setting forth, That, before the great Duty upon Leather the Petitioners maintained their Families very well; but since, their Trades are so much decayed, that they are not able to subsist: And praying the Consideration and Relief of the House therein.

Ordered, That the said Petition do lie upon the Table.

Darwent Navigation.

A Petition of the Gentlemen, Freeholders, and other Inhabitants, within the Hundred of Basset-Lowe, in the County of Nottingham, was presented to the House, and read, setting forth, That the making of the River Darwent, in the County of Derby, navigable, will greatly damnify the Petitioners, and other neighbouring Inhabitants: And praying, That the Bill, depending in the House, for making the said River navigable, may not pass.

Ordered, That the said Petition do lie upon the Table until the said Bill be read a Second time.

Land Bank Commissioners.

Mr. Lowndes, according to Order, presented to the House, a List of the Persons appointed to be Commissioners for taking and receiving the voluntary Subscriptions to the intended National Land-Bank, with Power to receive the First 4th Part of the Subscription-money:

And the same was read; and is as followeth; viz.

Wm. Lowndes.

Memorandum: These Commissioners, or any Five of them, had Power to make a Cashier, or Cashiers, to be approved by the Lords of the Treasury.

Ordered, That the said List do lie upon the Table.

Woollen Manufacture.

A Petition of the Gentlemen, Clothiers, Cloth-workers, Traders in the Woollen Manufactures, and other the Inhabitants of the Town of Ratchdale, in the County Palatine of Lancaster, was presented to the House, and read; setting . . . . . . That foreign Letters give Account, that the strict Prohibition of importing the Manufactures of Flanders, or the great Duties laid upon others imported thither, have put them upon renewing a Trade of making Cloth; which, is well known, they formerly did; and there is great Reason to fear, they intend to prohibit the Importation of our Woollen Manufactures, into Flanders; where we have, for many Years, had a considerable vent for them: And praying, That the Woollen Manufacture may, by some means, be prevented from setting up in foreign Countries; and that the Commerce and Trade of this Kingdom in that great staple Commodity may be still preserved and maintained.

Ordered, That the Consideration of the said Petition be referred to a Committee: And that they do consider how far, for advancing the Woollen Manufacture, it may be convenient to repeal the last Law of Prohibition of Lace from Flanders, or any part thereof; and report the same to the House.

And it is referred to Sir Sam. Barnardiston, Sir James Houblon, Mr. Phippard, Sir Walter Young, Mr. Brotherton, Sir William Drake, Sir Jacob Ashley, Mr. England, Mr. Stratford, Sir Robert Cotton, Mr. Cook, Mr. Phillips, Mr. Blofeild, Mr. Roberts, Mr. Yates, Lord Coningsby, Sir Cha. Hedges, Sir John Wynn, Mr. Moor, Mr. Barnardiston, Sir Geo. Hungerford, Mr. Osborne, Sir Rowland Gwynn, Dr. Davenant, Mr. Morris, Mr. Fortescue, Mr. Perry, Mr. How, Mr. Hancock, Sir Edward Seymour, Mr. Stonehouse, Mr. Gwynn, Mr. Morgan, Mr. Hayes, Mr. Hobly, Lord Fairfax, Mr. Hoar, Lord Chenie, Mr. Vernon; and all that serve for the Counties of York, Cornwall, Devon, Salop, Wilts, Gloucester, Bucks, Dorset, Somerset, and North-Wales: And they are to meet this Afternoon at Five a Clock in the Speaker's Chamber.

Billingsgate Fish Market.

A Petition of the Town of Great Yarmouth, in the County of Norfolk, on behalf of themselves, and others concerned in the Iseland, North-Sea, and Herring Fisheries, was presented to the House, and read; setting forth, That * * * *

That the Consideration of the said Petition be referred to the Committee, to whom the Bill for making Billingsgate a free Market, for Sale of Fish, is committed.

Price of Gold and Silver, and Currency of Guineas.

Mr. Blathwaite, from the Commissioners of Trade, according to Order, presented to the House a Copy of a Representation relating to the Difference of the Value of Gold and Silver:

And the Title thereof was read.

The said Representation is as followeth; viz.

(A Copy.) To their Excellencies the Lords Justices.

May it please your Excellencies. Sept.

IN Obedience to your Excellencies Order in Council, dated the 8th of this Month, That we should take into our Consideration the Value of Guineas, as they are now current at 22s.; and the Prejudice which had been represented to your Excellencies to arise from thence to the Trade of this Kingdom, and particularly to the Importation of Silver Bullion; and that, having spoken with Merchants, and other fit Persons, we should report to your Excellencies our Opinion thereupon, and what we conceive your Excellencies may fitly do in the Matter; we have accordingly spoken with several eminent Merchants, and other Persons, whom we thought most capable to give us Information therein: And thereupon most humbly report;

That the Merchants, and others, we have consulted thereupon, are generally agreed, That the Importation of Gold, occasioned by our over-valuing it in the Currency of Guineas at 22s. is a Prejudice to this Kingdom in our Trade; and an Occasion that so much Silver, as the Value of the Gold so imported is worth, hath been either carried out of England, or hindered from coming in; and that we cannot expect any Silver Bullion from Spain, or elsewhere, should be imported and coined here, whilst we put so great an Over-value upon Gold; because it is easy for Merchants to know the Value of both, in all Places where they deal, and to exchange their Silver there for Gold; and most certain, that they will only import hither to be coined what makes most for their own Advantage.

But, besides their Opinion, the Thing demonstrates itself; for it is certain, That Gold in Holland, from whence the greatest part of what has been lately coined has been brought over to us, is above Six per Cent. cheaper than it is here; that is to say, The same Quantity of Gold that will yield here at the Mint a Sum equivalent to One hundred Ounces of Silver, will there be bought for less than 94 Ounces of the same Silver: And from thence it evidently follows, That whoever imports Gold gains Six per Cent. here more than if he imported Silver to be coined; and carries away, for it, either so much of our Silver, or, at least, so much of our Commodities, as that Six per Cent. amounts to; which is both ways alike prejudicial to this Kingdom.

That this Over-value of Guineas draws Gold in upon us, the Mint is an unquestionable Evidence; where, from the First of May last, to the 12th of this present September, have been coined 250,713 Guineas; but, in Silver, only 72,366 l. 8s.: And it is also observable, That the Silver so coined has been only some Remain of our clipped and hammered Money, and not foreign Bullion imported: Nor can it be hoped, that this Course of Coinage, now in the Mint, viz. The Coinage of Gold in a much greater Proportion than Silver, should alter; but that it will be continued on, to the Exportation of our Silver, and very great Loss to this Kingdom in Trade, so long as Gold here shall have the Value of 22s. Sterling for a Guinea.

The Prejudice arising from hence to Trade, and the Advantage that may be expected from the Fall of Guineas, are also more particularly observed to us, by Merchants, from the Rate of the Exchange: For the Course of Exchange between England and Holland having of late, by the Importation of so much Gold from thence, been brought considerably lower than the Par; the Consequence of which is, That we pay so much more for every thing we bring from thence, and receive so much less for every thing we send thither; that Course has, even since your Excellencies Commands to us to make Inquiry into this Matter, by the spreading of the Rumour and Expectation of some Change, already received an Alteration of about One per Cent. to our Advantage: And it is not doubted, but, as the Price of Guineas shall be more certainly reduced towards their true Value, the Exchange will rise proportionably.

This being the State of this Matter, we are humbly of Opinion, That it is necessary, Guineas, in their common Currency, be brought down to 21s. 6d. at least: And further humbly conceive, That your Excellencies may fitly do it by giving Directions, That the Officers of the Receipt of his Majesty's Exchequer, and all other the Receivers of his Majesty's Revenue, do not take them at a higher Rate.

This appears to us the most convenient Way; because it may, at all times, be a ready and easy Remedy, upon any further Variation that shall happen in the World in the Price of Gold; or even in case this now proposed Lowering of Guineas should not prove sufficient: For it being impossible, that more than One Metal should be the true Measure of Commerce; and the World, by common Consent and Convenience, having settled that Measure in Silver; Gold, as well as other Metals, is to be looked upon as a Commodity, which varying its Price, as other Commodities do, its Value will always be changeable; and consequently, the Fixing of its Value in any Country, so that it cannot be readily accommodated to the Course it has in other neighbouring Countries, will be always prejudicial to the Country which does it.

The Value of Gold here at the Price of 21s. 6d. a Guinea, in proportion to the Rate of Silver in our Coin, will be very near as Fifteen and a Half to One; the Value of Gold, in proportion to Silver, in Holland, and the neighbouring Countries, as near as can be computed, upon a Medium, is as Fifteen to One; so that, by bringing down Guineas to 21s. 6d. Gold will not here be brought to so low a Price as in our neighbouring Countries; nevertheless, we are humbly of Opinion, That the Abatement of Six-pence in the Guinea will be sufficient to stop the present proportionate Importation of Gold; because the Charge of Insurance, Freight, Commission, and the like, will eat up the Profit that may then be made thereby, and hinder that Trade; but if, contrary to our Expectation, this Abatement should prove too small, Guineas may, by the same easy Means, be lowered yet further, according as shall be found expedient.

All which, nevertheless, is most humbly submitted.

Whitehall, 22 September 1698.

Ph. Meadowes, John Pollexfen,

John Locke, Abr. Hill.

Ordered, That the said Copy do lie upon the Table to be perused by the Members of the House.

Price of Gold.

Resolved, That this House will, To-morrow Morning at Eleven a Clock, and no other Business to intervene, resolve itself into a Committee of the whole House, to consider of the Price of Gold.

Victualing the Fleet.

Ordered, That the Commissioners for Victualing do lay before this House their Observations and Exceptions to the Account of the Victualing the Fleet in the Mediterranean.

Leave of Absence.

Ordered, That Sir Isaac Rebow have Leave to go into the Country, his Father being very ill.

Member expelled for accepting Place.

Sir Henry Furnesse attending, according to Order;

He was heard in his Place.

And then withdrew.

Resolved, That Sir Henry Furnesse, being a Member of the House of Commons, and having since been concerned, and acted, as a Collector and Manager, upon the Act, made in the Ninth and Tenth Year of his Majesty's Reign, for raising a Sum not exceeding Two Millions, upon a Fund for Payment of Annuities after the Rate of Eight Pounds per Cent. per Annum; and for settling the Trade to the East-Indies; contrary to the Act, made in the 5th and 6th Years of his Majesty's Reign, for granting several Duties upon Salt, Beer, Ale, and other Liquors; be expelled this House.

Bramber Writ.

Ordered, That Mr. Speaker do issue his Warrant to the Clerk of the Crown, to make out a new Writ, for the electing a Burgess to serve in this present Parliament for the Borough of Bramber, in the County of Sussex, in the room of Sir Henry Furnesse, expelled this House.

Member expelled for accepting a Place.

Mr. Atkinson attending, according to Order;

He was heard in his Place.

And then withdrew.

And a Motion being made, and the Question being put, that Samuel Atkinson Esquire, being a Member of the House of Commons, and having since been concerned, and acted, as a Commissioner and Manager, upon the Act, made in the Ninth and Tenth Year of his Majesty's Reign, for licensing Hawkers and Pedlars, for a further Provision of Interest for the Transport-Debt for Reducing of Ireland; contrary to the Act, made in the 5th and 6th Years of his Majesty's Reign, for granting several Duties upon Salt, Beer, Ale, and other Liquors; be expelled this House;

The House divided.

The Yeas go forth.

So it was resolved in the Affirmative.

Harwich Writ.

Ordered, That Mr. Speaker do issue his Warrant to the Clerk of the Crown, to make out a new Writ, for the electing a Burgess to serve in this present Parliament for the Borough of Harwich, in the County of Essex, in the room of Samuel Atkinson Esquire, expelled this House.

Committees.

Ordered, That all Committees be adjourned.

And then the House adjourned till To-morrow Morning, Eight a Clock.