As a result of a report written by Newton on 21 September 1717 to the Lords Commissioners of His Majesty's Treasury, the bimetallic relationship between gold coins and silver coins was changed by Royal proclamation on 22 December 1717, forbidding the exchange of gold guineas for more than 21 silver shillings. This inadvertently resulted in a silver shortage as silver coins were used to pay for imports, while exports were paid for in gold, effectively moving Britain from the silver standard to its first gold standard. It is a matter of debate as to whether he intended to do this or not. It has been argued that Newton conceived of his work at the Mint as a continuation of his alchemical work.