Draft of <ref target="/catalogue/record/MINT00729">MINT00729</ref> (Mint 19/3/542-3)

5175122 Tuns Averd. Tin the Queens hands at the beginning of this contract Iune 1710 } Added 800 Tunns st.stannary wtweight

Total

3257 Left by the Queen at heher death Aug 1, 1741704 5260 ~~Increased in four years & two months~~ ~~2003~~ ~~Increased annually~~ ~~50500~~ ~~Receivied from yethe stannaries in four year 676 T. st. wt~~ ~~7243~~ ~~Sold off in four years & two months~~ ~~5240~~ ~~Sold per an at a medium~~ ~~1250~~ Add for the two Months between the summer coynage & the Queens death } 307 Total Tyn belonging to yethe Queen at her death 55707 Increased in four years & two months 2310 R Increased annually 554 Received from yethe stannaries in 3 years 4920 T.Tuns st.stannary wtweight } 7572 Received more in a year 1840, in 2 months 307. Total 7067 REceived more then hath been sold off 52310 Sold off in four years & two month 5252 Sold annually 1260 Vnsold ~~sold~~ since the beginning of the two contractss 5260 Received since the beginning of the two contracts 19417 Sold since the beginning, viz in 9

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years 14157

The Queen contracted in yethe 2d of Iune 16 1710 to take annually from Cornwal during the seven years ensuing, 1600 Tunns of Tin during the war & 1800 Tunns in in times of peace besides about 40 Tunns from Truro in Devonshire The contractThese Tunns cont were stannary weight each Tunn consisting of 2400 pounds averdupois. But the Tin iswas sold by the Queens Officers to merchatnts by Tunns averdupois each Tun consisting of 2240 pounds averdupois. The Queen paid 65 pounds per Tun stanary weight besides 4. 6. 8 the Coynage & post groats amounting to 4li 6 8 per Ton wchwhich she remitted to the people of Cornwal And she sold about 1260 Tunns averdupois to yethe merchant annually forat 76li per Ton. And in the beginning of this a contract the Queen had 2400 Tuns averdupois remaining in her hands upon a former contract. At her MatsMajestys death there were about 5240 Tunns Averd.Averdupois of Tin left in the hands of Trustees for paying debts upon the Tin & civil list. Case 1. If the contract should crease, & the Trustees & Cornwal by selling against one another will bring down the price of Tin In the time of yethe 1st contract yethe sales amounted to about 1500 T.Tuns av.averdupois prper cent During the last 4 years there has been sold annually about 1260 Tunns averdupois of Tin averd.averdupois or almost 1200 Tuns st.stannary wttweight. The price was 12 6 76li per Tun Averdupois. If the con Case 1. There were about 5200 Tuns of Tins in the late Queens hands at her death & so great a dead stock cannot left by her MatyMajesty in the hand of Trustees to be sold for paying her debts, the Trustees & Cornwall by selling against one another will bring down the price to what it hath been formerly or p suppose to 540 or 50li per Tun, or perhaps lower. And if the the Trustees & Cornwall should both together sell about 1260 Tunns per an 1300T per anannum, & each of them sell as much as the other, the Queens Tin would be eight years in selling. &Case 1 For bringing this matter to a recconing I will suppose that the Trustees willmay sell about 650 Tuns per annum for 50 at 54li per Tunn & the Tsale will bring in 32500li for eight years together. And this annuity rebating interstinterest at 5 per cent will be worth in presentready money 210054li the neare value of the Tin as nearely as can be recQueens Tin if the contract ceases Queens Tin at present if the contract be not renewed. as nearely as I can reccon, if the contract ceases. But in this case the lowupon the afforesaid suppositions, if the contract ceases. The Trustees sell 650 Tunns prper anannum must fall their price so low that it will not be worth the while to raise above 650 Tuns in per anannum in all Cornwal per anannum. And in this case Tin will scarce sell for 45li per anannum & the people of C owners of the Tinn lands will be much discontented. Case 2 On the other hand till if the contract be renewed & the King takes off annually 1840 Tunns stannary as in yethe last contract, there will be every year an addition to the dead stock of Tin of the Crown of about 65564 Tunns stannary wtweight or 712 Tunns averdupois. which wchwhich the longer the contract is continued &the greater will the complaint of the Cor & discontent of the Cornish men whenever it breaks off & the greater will be the loss of the crown. And therefore its much better to W Vp Case 3. If upon his MatyMajesty should renew the contract & take only 1200 Tunns stannary wtweight from Cornwal & Devonshire annually & wchwhich is much as will go off to yethe Merchant & pay the Queens Trustees annually about 32000 per anannum eight years together The recconing would stand thus 1200 Tunns of Tin sta.stannary wtweight at 70li

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per Tun including freight 84400 Other expences & hazzards annually 5000 To the Queens debts per anannum 32000 Total charge annually 121400 Produced annually be the sale of 1260 Tunns averd.averdupois at 76li per Tunn } 95760 Annual excess of the expence above the income 25640 The total value of this annual expence at the end of 87li eight years with interest at 5 per cent interest for the money borrowed to pay this excess of expence } 247400 In recompence for this expence the King will have about 5200 Tunns of Tin of about the same value at the end of yethe eight years. 518512 In theIust before the beginning of the first contract for Tyn the Pewterers furnished themselves with Tyn from CornwlCornwall & being factors for the merchants sold off their own Tin first so that the Queen sold very little Tyn the first year. I reccon that their Tyn sold that year & the first quarter of the second year might amount to about 16400 Tuns stannary wtweight. If At the end of 6

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years, the time of that contract there remained 6

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yea about 2400 Tunns averdupois that is 1224 Tunn Averd StannStannary in the Queens hands unsold. She had then received 6

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years produce that is 10660 Tunns stannary weight Add the 1500 Tunns & there fore sold 86420 Tunns. Add the 15400 Tunns of the Pewterers & the whole quantity sold in six

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years will be about 99820, wchwhich is after the rate of about 1510 Tunns stan.stannary wtweight per annum. In the four last years there has been sold after the rate of only 1260 Tunns per anannum Averd.Averdupois othat 1176 Tuns stannary wtweight. And then at the If Queens death there was a dead sto Then reason of the decrease of the sale I take to be the high price of the Tin & that that in yethe late warr. where Tin could not be imported during the war, the people learnt to use other other vessels then Tin & now being impoverished by the warr chuse to buy earthen are less able to purchase Tin vessels then formerly & content themselves with vessels of wood & earth. The dead stock left by the Queen at her death amounts to about 5240 Tunns averdupois. If the contract should not be renewed, this Tin will scarce be sold for above 40 or 50sli per Tun & if it should be sold for 45li per Tunn, & 1260 Tunns averd.averdupois should be sold annually, between the one half by Cornwall the other half by the Trustees for the Queens Tin, the Queens Tin would be eight years & four months in selling, & for so long time would be produce an annuity ofannually 28350li per an. for paying off the Queens debts untill 5240 Tunns be sold off & all the payments amount unto 235800li the price of the whole. At a higher price the Tin would go off slower at a lower price it would go off faster, & what is got by the price would be lost by the time of sale: & what is got by the time of sale would be lost by the price quam proxime. If the CommrsCommissioners for the sale of Tynn should givereceive 7500li quarterly for eight years together for all the Tyn should sell all the Tin to the King for 75240000li to be paid by quarterly payments of 7500li at each payment for eight years together: their bargain in my opinion would be more advantageous then to let the contract cease: espe. For if the contract be not renewed they will scarce be able to sell 630 Tunns per annannum for 45li per Tunn & out of the price they must defray the charges of warehouse room, factors, Porters & Incidensts. If therefore the contract be not renewsed the sale of Tin may amount unto about 630 Tunns averdupois or 600 stannary wtweight & bring into Cornwall about 240000li in eight years or 28000li per anannum till all the Queens Tin be sold. And if his MatyMajesty should purchase only 400 Tuns ststannary wtweight per anannum stan. wt at 3li 9s prper Ccwt it would be more to their advantage. For it would bringto the Cornwall 273600li in eight years, & save them the charges of diffing of 200188200 Tunns stan.stannary wtweight annually above the above the 400 Tunns to make up 600 Tunns averdupos Cornwall therefore ought to thank the king if he should contract wthwith them for 600, 800 or 1000 or 1200 Tunns annually they ought to thank him much more, & was shew themselves very sensible of the favour before any contract be made. Twelve hundred Tunns St.Stannary wtweight as much as will go off & as the king can purchase without losing by it. The recconing stands thus. Twelve hudnred Tunns of Tin at 70li prper Tun for Tin & freight 84000 Other expences & hazzards 5000 Queens debts per anannum 30000 Total expence 119000 Sold annually 1260 Tunns Averd.Averdupois at 76li prper Ton 95760 Annual expence above the income 23240 The value of this annuity or expence at the end of 8 years at 5 per cent interest for the money borrowed } 224243. If his MatyMajesty should receive annually from Cornwall only 1000 or 800 or 600 or even but 400 Tunns annually from Cornwall at 69li 6. 8 per Tun including the coynage & post Groats, it would be better for Cornwall then to let the contract quite cease. And therefore they have reason to take it as an Act of grace if his MatyMajesty should contract with them for no more then 800 or 1000 Tunns per anannum. And tho his MatyMajesty should pay an annuity for the Que during 8 years eight years together to the Trustees for yethe Queens Tin, yet it will not be necessary that the contract with Cornwal should be for above three years.