In obedience to yoer LordpsLordships Order that I should lay before yoer LordpsLordships
a scheme of coyning copper money I humbly represent that copper
the Copper should be of such a fineness as to endure hammering without cracking when made red hot.worth about 10d or 11d per lwt may be cast into barrs for about 2 per £wt above the price of the Copper: but such cop barrs will not be sufficiently fin
In obedience to your LordpsLordships Order that I should lay before yops LordpsLordshipspropose a scheme ofor coyning copper money, I humbly represent that the Copper should be of such fineness as to endure hammering without cracking when red hot., this assay being easy & certain & The Swedish money & Copper vessles being of about this degree of fineness,. & that copperAnd because if copper be made into barrs by casting it will not be fine enough to endure this assay, that & if it be made into barrs at yethe battering mills the workmanship will cost too much: I propose rather following method of coynage.
LetThat fine copper wor of such a goodness as about two year ago was worth about 95 or 96£ per Ton in yethe market & about a year ago was worth about 100£ per or 102 £ per Ton & at present is worth 110 about 110£ per Ton or 12sd per lwt be delivered to the Melter or purchasedprovided bought by them Melter or by other other factor at a price not exceeding the price appointed atby the standard price according to yethe Market Market Treasury , & delivered to them Melter by such an Assay or Rule as theyhe & the factor can agree upon, & that the Melter melt refine & cast it into cakes in iron pans & roll the cakes red hot to a due size & blanch them & deliver them to the Mr & WrMaster and Worker by b weight & by the Assay above mentioned. And Letthat the Moneyers cut out & coyn the blanks & the Master the deliver back the scissel to the Melter by weight & pay for the remainder made into moneys after a certain rate. i I supposes of 4d per £wt for the workmanship above besides the price of the copper ) & let the price of the Copper be ascertained certified to yethe MrMaster stinted & certified to the MrMaster from time to time. And that a Tunn of new moneys or any quantity not exceeding a Tunn be well mixed together on a floor & four or five pound weight be taken from so manyfour or five several places of the heap & examined by weight tale & assay & the tale of the assays at a medium be taken for the tale of the whole heap & of every parcel thereof by the pound weight, & that a piece out of every pound weight reren assayed be put into a Pix & that the whole heap be distributed into parcells by the po of 5 or 10 pounds in value in each parcel & put into Barrels to be delivered at that price to inspe those who shall come for them & that all the receipts paymentsassays & deliveries be entered in books by two clerks one for the king & the other for yethe Master & WrWorker & a controlment rRoll be made by the kings Clerk at the end of the year & the Pix be then examined by weight & assay before such person or persons as shall be appointed to report the same to the Ld TrererLord Treasurer or CommersCommissioners of yethe Treasury.
2 If the Mr & WrMaster and Worker be allowed 1d per lwt for himself the graver & the Smith & 1d for the Moneyers & d for the charges of weighing, assaying, distributing entring in books, barrelling, putting off, & paying formaking a Controlling Roll, & Auditing the whole charge will amount unto 3d in the Mint & 4d out of the Mint for workmanship & incidents besides the price of the Copper & wchwhich at yethe at 11d per £wdt will make the whole ch amount unto 19d per £wt. And if d or ratherperhaps d more oer £wt may be allowed for repairs of buildings & for putting the coining tools in repairs in the beginning of the coynage & purchasing such new ones as are wanting & obviating all other accidents the whole charge will amount unto 19d or 19d per lwt/
1 And because it is impossible to size the money without erring in excess or defect, the error may be limited not to exceed a half penny in the pound weight. 347
By this recconing, a pound weight of Copper may be cut into 19d if the copper cost no more then 11 per into lwt or into 19 with a if it cost 11 or 1 & if it should be cut into 19 or19 or 20d per lwtfor obviating all incidents so as to make a small profit, for obviating all incidents, the profit will appear upon the AcctAccount & may be applied to the publick.
All wchwhich is most humbly submitted &c
If the Melter be allowed 4d per lwt for refining melting & rolling ing & blanching the copper & the Master be allowed 1d per lwt for himsself own trouble & hazzards & for paying. the Graver & the Smith for yethe P. & o. & 1d per lwt for the Moneyers & d per lwt for defraying the charges of weighing, assaying, entring in books, barreling putting off & making a Controllment Roll; & d or perhaps more be allowed for repairs of buildings, putting the instruments into repair in the beginning of the coynage, & purchasing Isuch new onesinstruments as may be wanting & obviating all other unforeseen accidents the whole charge of a pound weight of copper money wouldwill not be less then 19d supposing that the copper costs 11d, [nor more then 19d supposing that the copper costs 121d.] And if 2 a pound wt shouallld be cut into 19d or perhaps 20d, 30 a5 1 for obviating all accidnets to make a small profit, the profit will appear upon the Account, & might bethe difficulty wchwhich may happen by the greater of the price of the copperd, the profit above the charge will be but small & may be accounted for & applied to the publick. uses.
Aall wchwhich &c
Six hund or seven hundred Tunns has been found sufficient to staock the nation of England, & there is scarce above 150 or 200 tTunns wanting of that quantity. I would propose a slow coynage suppose of aboutnot exceeding 30, or 40 or 50 Tunns per an̄ so that the price of copper may not be raised thereby &c. the new money have time to spread & be dispersed without making a clamour.
All wchwhich &c.
And before the method of coynage be fully settledestablished in writing I desire it may be convenient to make an Essay in coynieng a Tunn or two for an Experiment, least to make syre that there be no unforeseen difficulties