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Scots Magazine (Newspaper) - March 1, 1744, London, Middlesex torch Proceedings of tie POLITICAL d at leaft 5 per nett profit fo hey had been obliged to export the rreiit it could not have proceeded jm their not having a fufficient it is ridiculous to talk of fuch cffdfts proceeding from fuch a the war continues but a fmall number even Mr Gore and his friends ay be obliged to export our current melt it down in order to export the bul m which I am proceed am tjjeir not having a fufficient profit it they muft do when they can find nor foreign gold or filver export and I am they ay be obliged to fooner than fome ope are aware of for we are now far om being in the fame circumftances we ere at the beginning of the war in the ieens We are ftill I be upon the general balance of I not fo confiderable as we were that time and have now a load ion our general balance of which were then very little fubjeft I mean ic intereft payable yearly to foreigners ion the capitals they have in our feveral I amounts to 5 or and is a moft grievous awback upon our general balance of If by that balance we are not fup ied with an annual recruit of bullion or eign gold fufficient for fup ing the annual demand for tJie payment this as well as for paying our mies and fubfidiary princes upon the we muft begin to encroach upon national lock of gold and filver muft export our current or melt it down for that lich is the fame thing and this our nifters ought ferioufly to confider before s too After having fhewn how profitable this traft was to the I muft con er the dangers he was expofed which ve been afligned as reafons for giving m fuch a profitable The dan of lowering the I have al dy fhewn to be altogether chimerical either the or any vate may prevent by export gold or The danger of an ad ace ia the price of freight or infurance for the exportation of gold or ia ftill more chimerical it at all be prevented by the govern ments employing their men of war and is at all times fo efpecially the that it is not worth And as to the agios falling in the im portation of foreign gold or filver will pre vent it if it mould it can be of no bad confequencej for as the agio the courfe of exchange will rife becaufe merchants or dealers in exchange never confider the current value of or a ny other fort of money in any country they confider only the quantity and fine nefs of the gold or filver they and the quantity and finenefs of the gold or fil ver they are to receive in lieu of it in an other and according to that they fix the courfe of fo as to have areafonable profit for anfwering their trou ble and with regard to the argu ment of the publicks being no lofer by this however profitable it may be to the undertaker I acknow7 furprifed me for I think it is ond of the moft fophiflical with rei gard to GUIown that was ever made in any metaphyfical difpute in our univerfuies with regard to the fo reign troops in our and the fubfidies payable to the Queen of Hungary and King of I fhall that it is abfolutely Bui with regard to our own whatever the Gen tleman may I mall always be of o that every kfs fuilaineo by thofe brave men who are fighting the battles of their country in a foreign is a lofs to their country and I muft I hope our minifters will take notice of what I I wifh our troops may but whe ther they do or I muft that ic is an infufferable to make the troops we fend pay for feuding ney after Whereever they they ought to be paid as if they were in England and if they are paid in they ought to be paid at the par of exchange f that is to for every pound Sterling due to they ought to in the money of the country where they as much as that pound Sterling
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