eral Governors of this [His?] British Plantations in consequence of the Addresses of the House would be very prejudicial & tend to putting the said Plantations into great confusion for the following Reasons.

For that should the Proclamation be Issued for reducing Gold & Silver Coin agreeable to the Proclamation of Queen Ann viz to 6-10 p oz. for Silver the consequence would be (if it took effect) that all Comodities would unavoidably Sink in proportion thereto which would very greatly affect contracts for Goods already sold to the ruin of manyto the prejudice of the Merchants Here in Engla as well as ye people there That people not having the privilidge of Coining any Money are under a necessity of a medium in Trade to carry on their Comerce; all Gold and Silver passing there as Merchandize are brought [bought?] up to make returns for Goods imported from Great Britain they being constantly in distress for want of a sufficient Supply of Such Commodities as are suitable to send over to pay for the . Goods that are annually sent them from hence, & consequently the people there are allways greatly in debt to Great Britain which makes the Ballance of Trade in favour of the latter and that will naturally drain away all the Gold and Silver from amongst them That should the people in y" planta be prohibited from Issuing Paper Money (without which they cannot carry on their Commerce & Trade) it would yet greatly distress them, be the Ruin of many Familys & be a vast hurt to the several Governments, for if the intended proclamation & the Roal [royal?] order of prohibition take Effect the consequence would be that as all Landed Estates would Sink to one Fourth part of the value, the Paper Bills now currant would be of course equal to Gold & Silver-20s in Bills would be worth 20s in Gold & Silv

The said Bills when first Issued were Lent out on

Land Security on the like or the following manner viz. to a man whose Estate was worth £1600 they lent £1200 of those Bills at 5 P'Cent Interest to be repaid in 7 or 10 years time, or at a certain Period of time, at which time the Bills were to be called in & Sunk with the money so repaid in to the Goverment & more Issued on the same foot: but in the meantime out comes the proclamation & Royal Orders whereby the Coin is reduced, the Estate sinks in Value from £1600 to £400 so that the proprietor loosses his whole Estate because he took up £1200 upon it, which the Government has the mortgage for, the mortgagor is therefore Ruined & the Colony looses £800, out of the £1200 they lent, & must be yet oblig'd to buy up their Bills at the period of time for calling them in, which would greatly distress them & put them as is before said into the utmost confusion.

That as to the Charter Governments they have from the encouragement given them by their Charters (Pticularly Rhode Island for whom I am concern'd) Cultivated & Improved a Wilderness Country, & defended it at the hazard of their lives & Estates from the Native Indians without a Shilling Expence to the Crown (tho' its well known other Colonys have cost this nation many Thousand pounds) that they have the privilige of making Laws among themselves for the good ordering of their Governments so as they are not Repugnant to the Laws of England without being oblig'd to transmit them home, which privilidge they have now enjoyed for a great number of years, & I hop'd that the Commons of Great Britain allways tender of Liberty & Property will not now deprive them thereof, especially seeing they are already Crampt in their Foreign Trade & are of so great advantage to this Kingdom, by taking off annually considerable quantitys of its manufactures, and then I particularly described and Set forth the nature & different

manner of their making returns from the plantations to pay for those Manufactures &c.

And that as to the rise in the Exchange I did not apprehend it was owing to the Emission of Bills of Credit as has been Suggested, for in Pensilvania New Jersey & New York, they have Emitted considerable quantitys & yet the Exchange there had not advanc'd 40 P Cent this 20 years, but that the occasion of so great a difference in the Exchange between New England and Great Britain was from quite another Reason, as that they were so constantly overloaded with Goods from England & always largely in debt for want of a Supply of Returns sufficient to pay for them, that the Factors were so eager in buying up whatever Comoditys was brought to Market Suitable to be sent home as fast as ever they came, that they bid one upon another & thereby enhanced the prices one upon another which of course will enevitably raise the price of Silver & Gold & that is certainly what governs the Exchange.

Report to the Lords of Trade from the Committee of Council, with draft of an additional Instruction to the Governors of the Plantations in America. To the Right Honble the Lords of the Committee of his Majestys most Honble Privy Council. My Lords,

Pursuant to your Lordships Order of the 1st Instant We have reconsidered the Dra of the Additional Instruction to the respective Governors of his Majesty's Colonies & Plantations in America, requiring and commanding them to observe his Majesty's Royal In

struction which directs, That the Act of the sixth of the Reign of Her Majesty Queen Anne, Entituled, An Act for ascertaining the Rates of foreign Coins in her Majesty's Plantations in America, be punctually & bona fide observed and put in Execution; And also his Majty's Royal Instruction to the respective Governors not to give Assent to, or pass any Act, whereby Bills of Credit may be issued in lieu of money, without a Clause be inserted in such Act, declaring that the same shall not take Effect until the said Act be approved by His Majesty; and herewith take Leave to lay the said Draught of an Additional Instruction before your Lordships, as we have altered the same, We are, My Lords

Whitehall July 9th 1740

Your Lordships &c. &c.
R PLUMER

MONSON

AR: CROFT.

M. BLADEN

ADDITIONAL INSTRUCTION to Edward Trelawney Esq Gen! and Governor in chief of his Majesty's Island of Jamaica, & the Territories depending thereon in America; Or to the Commander in Chief or the said Island for the time being. Given at Whitehall the day of 1740. In the Year of his Majesty's Reign.

WHEREAS an Act of Parliament was past in the 6th Year of her late Majesty Queen Anne, Entituled An Act for ascertaining the Rates of foreign Coins in her Majesty's Plantations in America, which Act, the respective Governors of all the Plantations in America have, from time to time, been instructed to observe, and carry into due Execution; And Whereas notwithstanding the same, Complaints have been made that the said Act has not been observed, as it ought to have been, in many of his Majesty's Colonies & Plantations

in America, by means whereof, many indirect Practices have grown up, & various and illegal Currencies. have been introduced in sev! of the said Colonies & Plantations, contrary to the true Intent & Meaning of the said Act, and to the Prejudice of the Trade of his Majesty's Subjects. In consequence of which Complaints, an humble Address was presented the last Sessions, by the House of Commons to his Majesty, That he wou'd be graciously pleased to require & command the respective Governors of his Colonies & Plantations in America effectually to observe his Majesty's Royal Instruction, directing them, That the Act of the 6th Year of the Reign of her Majesty Queen Anne, entitled, An Act for ascertaining the Rate of foreign Coins in her Majesty's Plantations in America, be punctually & bona fide observed and put in Execution. according to the true Intent and meaning of the said Act. It is therefore His Majesty's Royal Will & Pleasure, And you are hereby strictly required and commanded, under Pain of his Majesty's highest Displeasure, and of being removed from your Government, to take the most effectual Care for the future, that the said Act be punctually and bonâ fide observed and put in Execution, according to the true intent and Meaning thereof.

And to the end that his Majesty's Commands herein may be fully made known to all his Subjects within your Government; and that none of them may pretend Ignorance thereof, you are hereby further re quired and commanded to publish this Instruction in such Manner as may best answer his Majesty's gracious Intentions herein signified.

And whereas, for preventing the many & great Inconveniences that had arisen in some of his Majesty's Colonies & Plantations in America, by passing Laws for Striking Bills of Credit, & issuing out the same, in lieu of money, the respective Governors & Command