£2,000 had been the customary security for the mastership until the previous incumbent, Thomas Neale, gave £15,000 to allay doubts raised by his somewhat dubious financial history

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To the Right Honourable the Lords Commissioners of his Majestys Treasury.

May it please your Lordships

It has been usual for the Masters & Workers of his Majestys Mint to give 2000℔ security to the King before the sealing of the Indenture of the Mint and to mention the same in the Indenture. Thus did Sir Robt Harley in the second year of King Charles the first, Sir Ralph Freeman in the twelft year of King Charles the second and Mr Slingsby in the 22th year of the same King. Mr Neale having spent a large estate and being far in debt made his way into the place by granting half the profits thereof to other Officers of the Mint & giving 15000℔ security to the King and had time given him to find this security after the sealing of his Indenture. But his Melter Mr Ambrose (through whose hands all the coynage was to pass) gave but 2000℔ security to Mr Neale. The coynage being now much less then in the time of any of the Masters & Workers above mentioned, if your Lordships please to accept of the usual security of 2000℔ I am ready to give it that it may be entred in the Indenture now to be sealed. All which is most humbly submitted to your Lordships great wisdome

Is. Newton

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