CHAP. XXI. 



COIN IN 1599. 131 



seems, therefore, probable, that instead of one- 

 tenth only being diverted from its application as 

 coin to that of ornaments and furniture, an assump- 

 tion may be admitted that it at least amounted 

 to one-fifth. 



In that view of the subject gold and silver 

 would have been added to the coined money to 

 the amount of two hundred and forty-four million 

 pounds. But allowance must be made on this 

 sum for the regular wear, at the rate before es- 

 timated, of one part in three hundred and sixty 

 annually, which would amount to about thirty- 

 four million pounds; thus leaving, at the end of 

 1699, coin in circulation in addition to what ex- 

 isted at the end of 1599, as may thus for greater 

 clearness be exposed in figures. 



Stock of coin left at the end of 1599 130,000,000 



Deducted from this by abrasion and loss in the 



course of a dentury, to the end of 1699 43,000,000 



87,000,000 



Produce of the mines in 100 years 337,500,000 

 Transferred to India and China in 



part by the Philippine Islands 33,250,000 



304,250,000 

 Deduct a fifth converted to other 



objects than that of coin 60,250,000 



244,000,000 

 Deduct from this by wear and loss 34,000,000 



210,000,000 

 297,000,000 



By this account, taking the stock of coined 



