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{"content": "by John Horne, upholsterer, London,\nto change both the good and bad money of this Kingdom, and to make out the want of weight in the right coin, and in so doing to raise the king, near two millions of money; and also to cause a free and open trade amongst ourselves, and that every person shall use as well his bad money as his good, until his bad money has wasted itself quite away, as we humbly conceive may be in ten years and much easier for the people to lose 20 shillings in forty weeks, than to lose it in one day, &c. humbly referred to the wisdom of this honorable House.\n\nTo demonstrate the methods how to change the money, is as follows:\nFirstly, A brings ten pounds in money to be changed. The good money, being picked out, amounts to but seven pounds in tale. This seven pounds, when weighed, amounts to but five pounds. Five pounds are therefore given to A in milled money. And for his two pounds that his seven pounds were wanting in weight, and his three pounds of false money, which makes five pounds the total, this five pounds and five pounds in tally A receives..A receives 10 pounds in ready money, making an gain of 10 pounds and preferring a tally for his money over losing 3 pounds of bad money from trade. Every tally passes as if for the same amount of ready money, ensuring free trade since we won't lose the bad money if used for goods. We should be cautious and take as small a tally as possible. This indicates that bad money can be changed at the same cost as good money..Every time a Tally is paid, received, bought, or sold, it loses four pence per pound. Two pence go to the King, who endorses it on the Tally, and the other two are sunk. For instance, A pays a Tally of 5 pounds to B, who is in debt to him, and gives B 1 shilling 8 pence more than the debt. A receives a loss of 1 shilling 8 pence by disposing of his Tally of 5 pounds. Half of this loss, 1 shilling, is for the King, which A endorses on the Tally. B then pays the Tally to C, which is short 10 pence of the 5 pounds, the 10 pence A had given B earlier to make good his payment when he should pay it. C receives both the Tally and the 10 pence from B, and also 1 shilling 8 pence from A. A's actions are similar to this..A takes care to endorse 10d on the tally, which 10d, along with the tally that A gave to B, is in C's hands, totaling 1s 8d for the King and 1s 8d sunk off the tally. This 1s 8d is handed along with the tally, as well as the rest of the endorsements, until they amount to 20s. When the tally's endorsements have reached 20s, it may no longer be used for payment until renewed, which will have gone through the alphabet and returned to A's hand. A then carries the tally of 5l to the office, gives them the 20s of endorsements for the King's use, and receives a new tally of 4l to begin the process anew..Now I said it would raise Two Millions for the King, but I hope this Honorable House now sees, that it will make the bad money and the lack of weight in the good money benefit the King, supposed to be nearer Four Millions than Two. If this Honorable House refuses to raise anything on the bad money for the King, then it will be wasted sooner; but since money must be raised, I humbly suggest the people would rather pay it this way and use their bad money until the last moment, than lose their bad money all at once and raise so much more for the King.\n\nIII. How this can be done and we continue trading with each other while our money is changing. First, there be a Grand Office in this City of London, called, The Tally-Office; and at the place where the money is changed, no tallies be given, but an order to the Tally-Office to give A a tally for 5 l..For the convenience of trade, a Tally marked or stamped for a specific county may only be used in that county as desired by A. No Tally may pass out of the designated county or in without a fixed office.\n\nTo make a Tally payable in any county in England or Wales, A. holds Tallies worth one hundred pounds and wishes to pay one hundred in B's county. A. must go to the office of his own county, surrender his one hundred pound Tallies, and obtain an order from the master of the office to the master of the office in B's county, granting A. Tallies for one hundred pounds, numbered with the same number as A's original Tallies. For this service, A. pays two shillings or three shillings per pound to the king, depending on the distance.\n\nIV..That every county change its money distinctly one after another. Once a county begins to change its money, an office should be erected there, both for suppressing the falsifying of tallies and for the return of money. Although we humbly conceive that a tally cannot be easily falsified, the receiver's trouble lies in going with or sending the tally offered him in payment to the office to prove it. If the tally is false, then the one offering it should be punished according to this House's great wisdom..That every parish distinguishably change their money to avoid confusions and have timely notice to bring it in. Constables and beadles of each parish should attend their parishioners during the change to find those who have altered the coinage of the kingdom and promote trade. Old money should continue in circulation in every county after the change, as long as it is good until called upon a second time, since one county trades with another. After a county like A changes its money, other counties, such as C, must trade with A until the entire alphabet has changed. At that point, A can stop accepting C's money..It is supposed that every county is furnished with new money or tallies for a second time. If A's county is called a second time and refuses old money, then C's county, when trading with A's, must bring forth their new money or return their tallies. To change the money in this kingdom clearly, I have explained it in detail. Now, it is necessary to take care that the king is not cheated. This can be achieved through the following means:\n\nFirst, a penalty should be imposed on all persons paying such tallies or tallies. They must endorse the sum or sums that amount to the king.\n\nSecond, a penalty should be imposed on all those who possess tallies when their endorsements amount to twenty shillings. They must bring them in to the office to be renewed and pay in their endorsements to the office for the king's use..Thirdly, when a tally has decreased to a value of  twenty shillings, which is four pounds out of five, the master of the office where such a tally is presented should give its owner 19 shillings for 20 in ready money, and be authorized to add the 20 shillings he has purchased to the next renewed tally. The owner of the tally to whom the 20 shillings are added should then give the master of the office 20 shillings in ready money for the 20 shillings he has added to his tally. No tally should pass in payment below 20 shillings, as the poor should not be burdened with them.\n\nLastly, when all the tallies of A's county have decreased to 20 shillings, the office should give A 20 shillings for his tally, and it should be the king's loss. Then, the office should be dismantled, and no more tallies should pass in that county..To determine if any tallies are still outstanding after the office has closed, the sheriff of the county, at the request of the office master, must send a notice to every parish. Parishioners with any remaining tallies are instructed to bring them to the county office by a specified day. If a parish receives notice from the sheriff in this manner, publicly announced in the church, failure to comply will result in personal loss.", "creation_year": 1717, "creation_year_earliest": 1717, "creation_year_latest": 1717, "source_dataset": "EEBO", "source_dataset_detailed": "EEBO_Phase1"}
]