7i8 A. D. 1 701. 



Thus this otherwife-fagacious monarch, for the fake of an immediate 

 fum advanced by the monopohfts and farmers, occafioned incredible 

 hurt to many thoufands of famiUes, and the real lofs of much com- 

 merce to his kingdom : which pradice he neverthelefs continued to the 

 end of his life. The remainder of the memorial relates to the regula- 

 tion of their coin, aiid reducing the proportion of filver to gold to 

 the fame ftandard as in England and Holland : ' whereas in France it 

 ' approaches too near to that in Spain ; which country, being the fource 



* of filver, does not trouble itielf to ufe any arts to draw our coin 



* thither ; befides that the Spaniards are always our debtors on account 



* of the trade to the Weft-Indies.' 

 The proportions are, 



' I) In England and Holland, 14II ; or near 15 marks of filver buys 

 ' a mark of gold. 



* II) In Spain, 16^ ditto. 



' III) In France, i5tW» oJ" very near i5;j.' 



Againft raifing the nominal value of their filver coin higher than is 

 contained in its intrinfic quantity of pure bullion, this board's realbn- 

 ings correfponded exadly with thofe of our great Locke about feven 

 years before. Upon the whole, their reprefentations to the royal coun- 

 cil are fo full of hiftorical matter, not only for the commerce of France, 

 but of England, Holland, Spain, Portugal, &c. that we could not ex- 

 cufe ourfelves from giving a complete, though compendious, account of 

 fo ufeful and entertaining a fubjefl. 



We fliall here only farther remark, that, had the French afterwards 

 ftridly purfued all that is therein fo judicioufly laid down, they might 

 have been much more confiderable in commerce than they are even 

 now. But to this very day they have continued many monopolies and 

 exclufive grants, which the other commercial countries of Europe have 

 no reafon to find fault with ; and their court has alfo frequently, and 

 lometimes fliamefully, varied and enhanced the nominal value of their 

 coin beyond its intrinfic value, to ferve temporary expedients, though 

 to the general prejudice of their people. 



On the 12th of June 1701 was pafled the ever-memorable a61: of the 

 Englifh parliament [12 Gul. Ill, c. 2] for the farther limitation of the 

 crown, and better fecuring the rights and liberties of the fubjed ; where- 

 by the proteftant fuccefiion in the illuftrious houfe of Hanover, now on 

 the throne, was moft happily eftablifhed. 



On the i6th of September [N. S.] in this fame year, 1701, King 

 James II died at St. Germain in France ; and thereupon the French 

 king having declared his fon king of the Britifh realms, Lord Manchef- 

 ter, the Englifh ambafllidor, was inftantly recalled from France, and the 

 French ambaffador was ordered forthwith to depart the realm. Both 



