'A Proposal Humbly offered to the Commons of Great Britain in Parliament assembled' Isaac Newton c. 646 words The Newton Project Oxford 2017 Newton Project, University of Oxford

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 c. 1713-1714, c. 646 words.

Anonymous proposal to coin 1,000 tons of copper in ten years. On reverse: Newton's adverse comments on the scheme.

 MINT 19/2/402, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/2/402 c. 1713-1714 England English Holograph MintCopper Coinage Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young Catalogue exported to teiHeader by Michael Hawkins Transcribed by Will Scott
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A Proposal Proposal hHumbly offered to the Commons of Great Britain in Parliament assembled.

Farthings & halfpence being very scarce, insomuch that publick houses are forced to use Tickets: and at having been thought necessary to coin one hundred Tons per of Copper per anannum for ten years, for supplying great-Britain, Ireland & the Plantations; several Proposals have been made for doing thereof, all wchwhich have been calculated for private ends advantage only, without any regard to the pPublick.

ItIt is humbly proposed to coin the said Quantity, in the manner & on the terms following; in case his Majesty will be pleased to give the Benefit of the Coinage to the Publick, vizt

TThe farthings & halfpence to be made of fine Malleable copper, with a neat fair impression, to be approved by such person or persons as his MatyMajestys shall appoint.

EEach pound of Copper to be cut into two shillings: One fourth part when coyned, to be allowed to the Publick, wchwhich will amount to five thousand hun six hundred pounds per annum & amounts in the whole to fifty six thousand pounds.

TheThe Proposer will allow the Officers of the Mint His MajtsMajestys Mint two-pence halfpenny for cutting stamping & blanching each pound of Copper. In case they refuse the same the Proposer humbly desires the use of the Irish Mint & will be obliged to leave the Presses & Vtensils in as good Order as they now are, without putingputting his MajtyMajesty to any expence

If any Objections arise the Proposer desires an Opportunity to answer them, wchwhich he doubts not to do but to do to the satisfaction of this Housenourable House.

Considerations upon the foregoing Proposal

1. Several Proposals have been made for coyning copper money by Patents all which have without accounting for the profit all which have been calculated for private advantage. And the Officers of the Mint have constantly given their opinion against them & represented that the coynage should be upon Account.

2. It never was thought necessary to coyn 100 Ton per anannum for ten years unless for by those who designed to make a private advantage thereby. Such a coynage in three or four years would make a great clamour. In the last coynage of copper money six hundred Tons were found sufficient for all England & began to make a clamour, & the Proposer doth not offer to be at the charge of sending any into Ireland & the West Indies.

3 If it be right to cut a pound weight into two shillings & gives six pence thereof to the publick, its better to cut a pound weight into 2s 6d or 3s & give one shillings or eighteen pence thereof to yethe pPublick. On the contrary the Commons in the year 1694 addressed King William that the Copper money should be coyned to the intrinsic value (including the charge of coynage) & the Officers of the Mint have upon all occasions given their opinion to the same purpose that the temptation to counterfeit the money might be as little as possible.

4 The Proposer submits himself to no cheque or Account whereby it may appear how well the money is coyned in point of weight & assay & how much is coyned & what profit he makes of the coynage: but on the contrary endeavours to engross the whole coynage to himself into his own hands & by consequence to have it in his own power to coin the money coarse & light for is own profit. Whereas he that imports provides & prepares the Copper for the Mint should import it by the assay of the Mint & at a certain rate by weight without having it in his power to make a profit by coyning it coarse & light & in greater quantity then he accounts for.