To the R:tHonor:bleRight Honorable Sidney LdLord Godolphin (i
Lord High Treasurer of England
An humble Proposal for ImprovemtImprovement of her Maj.tsMajesties
Preemption & coynage of Tin by raising and
perpetuating the Vallue thereof by
Wm Tindale & By RGent
That her Maj:tieMajestie hath an undoubted Right as well to the Preemption
as Coinage of all Tin found within the Counties of Cornwall &
Devonshire cannot be dispited by any who considers that the
sole property of it was Antiently in the Earles & Dukes of
Cornwall Brother and was enjoyed by that famous
RIchard
Duke of Cornwall Brother of King Henry the third to whom
they yeilded vast revennues, But Edward his Son meeting
with Some discouragemtdiscouragement Did by his Charter grant the working
of the Mines to diverse ꝑsonspersons Reserving an halfe penny
- ꝑper pound for coinage, and the Right Preemption of all Tin they should ꝑduceproduce, and thus it continued untill the Same Escheated to and was Settled in yethe Crown, by Act of Ed. 3d farmd, & ParliamtParliament in yethe Reigne of Edward the 3d, who lett the same to Farme, So that it is plaine that the Preemption & Coinage of Tin, had one and the Same Original, & to Question the Right of the Crown to either, is not only to question the Right to both, and to make doubtfull the very Charters granted to yethe Tinners, but at the same time to make void the Right any ꝑticularparticular Land LdLord hath to make the best of his own Demeasnes.
The right of Preemption being thus undoubtedly in the Crown the Want of a Good and constant method, for well mannaging the same hath been the cheif, if not the Sole cause of the great decay of the Value of this Great Com̄odity of Tin both at home & abroad.
For a Comidity so imperishable and usefull to the World, of which we are in a manner Sole Ma:rsMasters could never have so fallen in price, if the particular necessityes of Some 601
2) private Tinners had not made them under Sell one another to the Merchants and the Publique Farmers of this Branch of her Maj:tsMajesties Revennue for want of Stock sufficient to Support so great an undertaking were continually found to over burthen the Market, by vending the said Com̄odity continually, and by consequence at mean rates, whereas had they been able to forbear their money & detein their Tin but for a Moderate term, They might more have improved the vallue of it, than they by the contrary course, have Since debased it, and this can be not otherwise prevented by by some Method of man̄aging the Preemption which shall both raise and ꝑpetuateperpetuate the Value thereof for the future.
Howe it follows, That to carry on this great concerne by ready money in the Species of Gold and Silver only will require a vast Stock or Sum̄e wchwhich will be attended with great Interest, & other indicents, in abatement of the ꝑfitsprofits of the Undertaking, and is a matter of Such difficulty, hazard and charge, which may (as heretofore) prove fatall to it.
Therefore it is humbly conceived, That the best & only Expedient to ꝑfectperfect the Worke is to Coin the Tin into money at the Established value, which by the GovernmtGovernment must be fixed and Settled without Variation during the Whole terme, And the Crowne to engage to accept in all paymtspayments at yethe Same rate it is to passe in other lands, which will bring it to a Parr with the Species of Gold and Silver, and render it not only equally Currant here, but pass at a greater value abroad and consequently be more eligible & currant among Merchants & Traders than either of those Comodities
3Remedies or Expedients humbly offered to prevent the decay, and to raise and Perpetuate the value of Tin for yethe future
1st That her That her Maj:tsy doe assure & set on foot the Preemption as well as Coinage of all Tin found within the Counties of Cornwall and Devon, and therein to contract with the Country for the Term of fourteen or Twenty one years, to tabe all their Tin at an Encouraging rate not exceeding ꝑper cent Stannary weight they paying the Coinage Duty as now they doe.
2d= That her Maj:tyMajesty by contracting for So considerable a Term, will encourage the Country, and might before the expiraton of the sdsaid Term Enter into new Contracts with them to continue the Preemption on the Same foot, which may be don to Generall advantage if due provision be made by a Clause for that purpose, which otherwise they may not be so easily brought to when they Shall find the certain improvement this method of ManagemtManagement will bring Tin to.
3:d And the better to accomodate this Matter for encouragemtencouragement of intercourse Trade and dealing within her Maj:tsMajesties Dominion, that yethe Crown do reduce the sdsaid Tin Value, which Should be fixed & settled without alteration during the Whole terme, and the same as near as may be in all places within her Maj:tsMajesties DonionsDominions, and at Such a value as will not discourage the Market, by hindring the Vent & consumption thereof, and if the Vallue so Sett & established 602
4th do not exceed Ten pence ꝑper pound, It is humbly conceived it wilbe no obstruction tothat Trade.
4:th That the Said Tin being brought thus to a Standard, that their Maj:tieMajestie doe order the dividing yethe Same equally into Barrs, Blocks or Peices of different values or denominations; each Barr, block, or peice exactly agreeing in bulbk, weight and finest with those of the same Species or Denominations And to direct the Stamping or coyning the Same as a certain marke of its being good money, that no man upon any occasion may be obliged to try or assay it, but that the true value of each species may be known and distingguished and accordingly attested, and Warranted, thereby wchwhich being don ad valorem will render it effectually effectively wall money, the same being Secured against all Imbasements & counterfeiting under like penalties with other money.
ꝑper mo abt:month about
mermaster Waines 16: Ton
Coster 12:
Comp: 5:
Worley&c 6-
39
12
78
39
468 -
5th The Coinage of toeksn of Tin, as half pence and farthings only, will occasion no extraordinary Consumption, and it hath been experiencedmented here alreddy, and found inconvenient, it therefore may be better Supplyed by the Copper of our own groweth, of which the Nation produceth and makes about five or Six ton ꝑper weeke amounting to about fower hundred and fifty finds ꝑ ann̄per annum or more. This don ꝑper W Tindale but we was formerly forcd TO send our money to headland & lose tin et Manufacted wchwhich now our owne poor make in0 ꝑfectionperfection
6xt The Tin therefore to render it usefull to Trade and dealing in generall, tis best to coine it into Barr's Blocks or peices of different values, as into three peices Six pences 12 pences 2sh= 6 pences
5:shills - 20:shills - and into blocks or barrs of Five or tenpounds value
7th For the outward forme or figure of it, whether Square broad, narrow, or round, with this or that Stamp or make under one denomination or another, wchwhich are all Incidents Subjected & left intirely to yethe Majestrates direction, It Suffices that he hath touch not the Substance of it, which he ought not to doe; for hwe may not coin money, but of the known value, nor sell a false price upon it, which ought to pass at the Intrinsict value, (vizt) for So much mettall as there is bona fide in it, And the money of the same alloy or finesse be worth as much in the Barr, as whom it is coined, so that it may to win & Melt & Coyne without any expence pass from the Mettall into Coin, and from the coin into the Mettall again, as of other coins, and therefore to be exact in this case the Crown ought to be at the Sole charge of yethe Coinage, which has been formly ꝑvidedformerly provided for, by the Wisdom of the Nation in Parliament, Who laid a duty of tenn shillings ꝑper Tun on Wines & 20s: on Brandy, to defray the charge of coinage, It being a great dishonour to a Prince to have his or her Image & Inscription Stampt upon the Currant money of the County, the Original end and Institution whereof was to attest & warrant its true value when upon examination it should be found defective & false:
8:th That her Maj:tyMajesty be pleased therfore to direct the putting a Stamp upon all Tinn from time to time raised within the Counties of Cornwall & Devon which her Maj:tyMajesty can do by Law, It being one of the Regalias of the Crowne, and to engage to accept 603
6 it in all paym:tspayments at the same rate it is to pass in other hands, which will marke it passable and yethe Cornish Dan or Columba Dianæ currant as a Coin, but the sdsaid Tin in Colour resembling Silver, it may be thought necessary it should differ in the figures & form of it from our Com̄on Species
Therefore ꝑposepropose it to be an Oblong Square her Maj:tsMajesties offigies in the Middle, and the Value of the Coin under it in Numeral letters & round yethe Same. Anna Br Francia et Hibniæ Regina And on the Reverse a Britania with a Cornicopia in one hand and a pair of Scales equally peited in the other hand, with this or Such like Motto Par pari refert
9th And because the Bulk & Ponderosity of the sdsaid Tin money may be offered as a Material objection in prejudice of this concern to obviate or answer which, That yethe Tin so coined be brought & reposited in certain convenient places to be appointed for that purpose, where the Credit or Owner P of al Such Tin may be transferred betwixt the Queen and Subject, and Subject to Subject, till the same be delivered out, to be either Manufactured at home or transported abroad, all wchwhich will certainly terminate in Gold & Silver at last, and prevent Counterfeiting, So that the Bulk & Ponderosity of it, can be no objection, but found a great conveniency and Emolument to yethe Publique, Not only by establishing Staples or Bank's in Divers parts or Members of her Maj:tsMajesties Dominion's, but will ꝑventprevent the charges of Warehouse Room, Portage Cartage and Weighage &c
10th(7 - That the places appointed for the Repositing the Tin thereof under Comission:ers will become So many Staples or Banks, who are entrusted with the Custody only of all such Tin converted into Coin, but not the dispose thereof, the Same being left free to yethe Propriators to draw out or Transfer to any other.
11th That fifty thousand pounds is a Stock Sufficient to commence and compleate the worke during the whole Term, which will not incom̄ode the Exchequer because they will have in the Room of it another Species of Coin equally valuable & currant.
12th That the ꝑsonspersons comissioned to man̄age this affaire of Tin, do not excede five or Seaven in number at most, and that their Salaries be encouraging & the ꝑsonspersons qualified for the undertaking } wthwith a good Treasurer a Controuler or inspector to accontaccount Every of a yr how Deposity Stand betwixt partyes
13:th To incourage the Pewterers or Workers in Tinn, all block Tin expor exported to pay the usual custom 10s ꝑpercent and over and above Twelve shillings ꝑper cent for Lycence to Export it which was a duty reserved antiently by the Earles of Cornwall, being the sole Merchants as well as Propriators of Tin, which her Majesty ought no more to part from than the Coinage duty.
14:th That the 5 shills 10 shills 20 shills peices being easily carried on Shipboard in order to exportation without paying the Custom or Lycense, to prevent which, that those Smaller peices, be brought to a Parr with block Tin, in Coining them, because they are to be expected free of either.
15:th That from and after a certain day to be limitted by her Majestie no unwrought Tin, be exported, but what Shalbe thus coined, attested & Warranted by the Mint as other Coines are which will Scarce the 12 Shills ꝑper cent Lycense as well as the Customes 604
8) on theall Tin, and will oblige the Pewterers to Manufacture al the Block Tin they have in Stock, or shall in the interim purchase, before the Preemption; and also prevent their Interloping upon the MerchMerchant to the prejudice of their Trade.
16:th That the Tinners are not to be restrained in the quantum to be raised annually, should they be able to ꝑduceproduce double or treble the Quantity they have over yet don, because when all the Tin is once Turned into money, it can be no more a clogg up on the Nation, than the Species of Gold and Silver after it became Currant money, which otherwise would have been as great a Burden & Clogg, upon the World in Generall, as Tin now is to the Nation in particular
17th That the Tin becoming Currant as a New Species of money can never decline it in value as Sett and limitted by the GovernmtGovernment, but will rather advanvance as Bullion hath from twenty pence to Bullion from 20d to 5s ꝑper oz five shillings ꝑper ounce, which was never known to decline in its value Since.
18th That Since the Coinage of money is allowed on all hands to be one of the Regalias of the Crown, the Nature and use of it Serves but to distinguish betwixt bulloinbullion money'd or not moneyed.
19th That Bullion not moneyed is but a Comidity, and is no more currant than any other mettall or Com̄odity, That any other mettall or comodity moneyed may be made currant as wel as Bullion.
20.th(.9. That any other Metall or Comodity is then Moneyed when Such a Value is put upon it as will render it equal to the Species of Gold & Silver, and is effectually So, when its value is established and Warranted by the Stamp in the Mint, where like care is to be taken in assaying it, as of other money.
21th Nothing is here offered but what or the like hath been practised by the Wisdom of antient times, as appears upon Record, who did not think fir to place the SOle & universal credit in gold & Silver Species only (which are here both forreign comodities) but for the like purpose made use of inferiour mettalls as Brass, Copper, &c - ad Valorem, and the same pracrice is continued by the Sweeds with good Success, but not in So good a Method as is hereby proposed.