Holograph draft memorandum on the Queen's trade in tin, predicting a loss to the Crown of over quarter of a million pounds by the end of a seven-year contract with the Cornish tin mines Isaac Newton c. 561 words The Newton Project Oxford 2016 Newton Project, University of Oxford

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 1705, c. 561 words.

Printed in NC, 4: 466-7.

 MINT 19/3/520, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/3/520 1705 England English Holograph Unknown Hand Unknown Hand (1) MintTin Trade Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young Catalogue exported to teiHeader by Michael Hawkins Transcribed by Will Scott Will Scott finished transcription

The 1600 Tuns of Tin bought annually in Cornwal amounts to 171427 Tuns averdupoi in Merchants weight to 171427 Tunns annualyyearly & in all the seven years to 12000 Tunns. Between Apr 6ty 1704 & Sept 12th 1705 there has been sold by the Pewterers 7600 Tons, by the Officers of the Mint 488 Tons & by Mr Drummond about 1000 blocks or 144 Tonns, in all 1232 Tons wchwhich is after the rate of 860 Tons per an. From the 12000 Tons deduct the 488 Tons & the 144 Tons already sold & there will remain to be sold 11368 Tons. Deduct further 860 Tons per an for the 514 years to come & the at the end of the term of the bargain there will be sold of 5148 Tons & remain in the Queens hands & the 6853 Tons. Which will 8 yrsyears more to sell it all supposing a cessation of digging Tin in Cornwall all that time & without such a cessation it may require a much longer time.

The Queen pays annualy for Tin 112000li Salaries 3000 carriage by sea 2000 incident charges about 1200li in all 118200li besides in & in all the seven years 827400 besides interest. Her MajtyMajesty has receved for 632 Tons already sold 48032li & will receive further for 860 Tons 65360li annualy & in all the 514 years to come 343140. Deduct the 65360li from the 118200li & the 343140 from the 827400 & the Q.Queen will run in debt 52840 yearly & at the end of the time of the bargain be in debt 4484260 besides interest wchwhich amounts to about 6400072000li more, so that yethe whole debt will be about 556000li. & for paying of it off yethe Q.Queen has 6897 Tons of Tin remaining in her The price of Tin in Cornwal has sometimes fallen to 50s & 58s & even 45s prper TonCcwt merchants weight: & the great glut of Tin inwhen the time of yethe bargain expires may make it fall down to 45s prper TonCcwt in London or lower. The 6853 Tons of Tin at 45 prper Ccwt will bring in 308385li wchwhich deducted from the said debt of 556000li leaves the Queen 257615li a loser by the bargain besides the interest of the debt till it be paid off. wchwhich inest the 30 while the tin is selling off; wchwhich interest if the Tin be eight years selling off or above will amount to about 194787li or above so the Queen will lose at least 452402 by the bargain. By the like computation I find that if for yethe future Tin should be sould after the rate of 1000 Tons prper an, there would remain in yethe Queens hands at the end of the term 6118 Tons & the Queen would be then in debt 44703380368li besides interest of money taken up to carry on the service wchwhich interest would amount to about 6597158320li & make the whole debt 445939438688li. And the 6118 Tons sold at 45s prper Ton would bring in 275310li wchwhich deducted from the debt would leave the Queen 237293170629163378li in debta loser besides the interest of the debt while the tin is selling off, wchwhich may amount to about 58320above 108372li, & so make yethe Queen 28949li a loser above 271750li a loser by the bargain. 514 520