When once the kingdom is reduced to such a condition I will tell you what must be the end:  the gentlemen of estates will all turn off their tenants for want of payment, because, as I told you before, the tenants are obliged by their leases to pay sterling, which is lawful current money of England; then they will turn their own farmers, as too many of them do already, run all into sheep where they can, keeping only such other cattle as are necessary; then they will be their own merchants, and send their wool and butter and hides and linen beyond sea for ready money and wine and spices and silks.  They will keep only a few miserable cottiers.  The farmers must rob or beg, or leave their country.  The shop-keepers in this and every other town must break and starve:  for it is the landed man that maintains the merchant, and shop-keeper, and handicraftsman.

But when the squire turns farmer and merchant himself, all the good money he gets from abroad he will hoard up to send for England, and keep some poor tailor or weaver and the like in his own house, who will be glad to get bread at any rate.

I should never have done, if I were to tell you all the miseries that we shall undergo if we be so foolish and wicked as to take this cursed coin.  It would be very hard if all Ireland should be put into one scale, and this sorry fellow Wood into the other, that Mr. Wood should weigh down this whole kingdom, by which England gets above a million of good money every year clear into their pockets, and that is more than the English do by all the world besides.

But your great comfort is, that, as his majesty’s patent does not oblige you to take this money, so the laws have not given the Crown a power of forcing the subjects to take what money the king pleases:  for then, by the same reason, we might be bound to take pebble-stones or cockle-shells, or stamped leather for current coin, if ever we should happen to live under an ill prince, who might likewise by the same power make a guinea pass for ten pounds, a shilling for twenty shillings, and so on, by which he would in a short time get all the silver and gold of the kingdom into his own hands, and leave us nothing but brass or leather or what he pleased.  Neither is anything reckoned more cruel or oppressive in the French Government than their common practice of calling in all their money after they have sunk it very low, and then coining it a-new at a much higher value, which however is not the thousandth part so wicked as this abominable project of Mr. Wood.  For the French give their subjects silver for silver, and gold for gold; but this fellow will not so much as give us good brass or copper for our gold and silver, nor even a twelfth part of their worth.

Having said this much, I will now go on to tell you the judgments of some great lawyers in this matter, whom I fee’d on purpose for your sakes, and got their opinions under their hands, that I might be sure I went upon good grounds.