Draft of MINT00633 (Mint 19/2/356) with detailed costings, advice on quantities to be coined, and a proposal for preliminary trial coinage of one or two tons

<347r>

In obedience to yoer Lordps Order that I should lay before yoer Lordps 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 10$\frac{\mathrm{1}}{\mathrm{2}}$d or 11d per lwt may be cast into barrs for about 2$\frac{\mathrm{1}}{\mathrm{4}}$ per £wt above the price of the Copper: but such cop barrs will not be sufficiently fin

In obedience to your Lordps Order that I should lay before yops Lordpspropose 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 fine{illeg}ness,. & that copperAnd because if copper be made into barrs by casting it will not be fine enough to endu{illeg}re this assay, that & if it be made into barrs at ye 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 ye 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 ye Market Market Treasury , {illeg}& delivered to them Melter by such an Assay or Rule as theyhe & the factor can agree upon, & t{illeg}hat the{illeg} 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 & Wr 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{illeg} 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 ye Mr stinted & certified to the Mr from time to time. And that a Tunn of new moneys or any quantity not exceeding a Tunn {illeg}be {illeg}well mixed together on a floor & four or fi{illeg}ve 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 {illeg}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 ye Master & Wr & 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 Trerer or Commers of ye Treasury.

2 If the Mr & Wr be allowed 1d per lwt for himself the graver & the Smith & 1d$\frac{\mathrm{3}}{\mathrm{4}}$ for the Moneyers & $\frac{\mathrm{1}}{\mathrm{2}}$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$\frac{\mathrm{1}}{\mathrm{4}}$ in the Mint & 4d out of the Mint for workmanship & incidents besides the price of the Copper & wch at ye at 11$\frac{\mathrm{3}}{\mathrm{4}}$d per £wdt will make the whole ch amount unto 19d per £wt. And if $\frac{\mathrm{1}}{\mathrm{4}}$d or ratherperhaps $\frac{\mathrm{1}}{\mathrm{2}}$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$\frac{\mathrm{1}}{\mathrm{4}}$ or 19$\frac{\mathrm{1}}{\mathrm{2}}$d 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.

<347v>

By this recconing, a pound weight of Copper may be cut into 19d if the copper cost no more then {illeg} 11$\frac{\mathrm{1}}{\mathrm{2}}$ per into lwt {illeg} or into 19$\frac{\mathrm{1}}{\mathrm{4}}$ with a if it cost 11$\frac{\mathrm{3}}{\mathrm{4}}$ or 1{illeg} {illeg}& if it should be cut into 19 {illeg} or19$\frac{\mathrm{1}}{\mathrm{2}}$ or 20d per lwtfor obviating all incidents so as to make a small profit, for obviating all incidents, the profit will appear upon the Acct & may be applied to the publick.

All wch is most humbly submi{illeg}tted &c

If the Melter be allowed 4d per lwt for refining melting & rolling {illeg}ing & blanching the copper & the Master be allowed 1d per lwt for himsself own trouble & hazzards & for paying. the Graver & the Smith for ye P. & o. & 1$\frac{\mathrm{3}}{\mathrm{4}}$d per lwt for the Moneyers & $\frac{\mathrm{1}}{\mathrm{2}}$d per lwt for defraying the charges of weighing, assaying, entring in books, barreling putting off & making a Controllment Roll; & $\frac{\mathrm{1}}{\mathrm{4}}$d or perhaps $\frac{\mathrm{1}}{\mathrm{2}}$ 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 11$\frac{\mathrm{1}}{\mathrm{2}}$d, [nor more then 19$\frac{\mathrm{3}}{\mathrm{4}}$$\frac{\mathrm{1}}{\mathrm{2}}$d supposing that the copper costs 121d$\frac{\mathrm{3}}{\mathrm{4}}$.] And if 2 a pound wt shouallld be cut into 19$\frac{\mathrm{1}}{\mathrm{2}}$d or perhaps 20d, 30 a5{illeg} 1 for obviating all accidnets to make a small profit, the profit will appear upon the Account, & might bethe difficulty wch may happen by the {illeg}greater of the price of the copperd, the profit above the charge w{illeg}il{illeg}l be but small & may be accounted for & applied to the publick. uses.

Aall wch &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 {illeg} without making a clamour.

All wch &c.

{illeg} 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