Copy of response to a petition from Abel Slaney and partners to coin a further 700 tons of halfpence and farthings

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To the Right Honourable Sidney Lord Godolphin Lord Treasurer of England

May it Please Your Lordship

In obedience to your Lordships Order of Reference of the 16th of Iune last past upon the annext proposal of Mr. Abel Slaney for himself and partners for a new Coinage of 700 Tuns of half pence and farthings Wee do humbly acquaint Your Lordship that Wee have enquired into all the Coinages of that sort since the year 1672. And do find that in the Reigns of K Charles the 2d. K. James the 2. and in the beginning of the Reign of the late King and Queen, the coinage of half pence and farthings was performed by one or more Commissioners who had money imprested from the Exchequer to buy Copper and Tin, and Coined at 20d per pound Averdupoiz And Accounted upon Oath to the Government for the produce thereof. That upon calling in the Tin farthings and half pence (by reason of the Complaints made against them) there was a Patent granted to the proposer and others, who Contracted to change the Tin farthings & half pence and to enable them to bear that charge they were allowed to coin 700 Tuns at 21d per pound without being accountable to the Government: which reason now ceasing We are humbly of Opinion that the former method by Commission is most advantagious to the Government especially if the Same Method be used for coining Copper that we observed for Gold and Silver, vizt that Money be Imprest from time to time to an Officer to buy Copper. That the Coinage be carryed on under the Care & Direction of the principal Officers of the Mint who shall keep due Entrys thereof in their {illeg} and that the whole profitt and Advantage of such Coinage be accounted for to Her Majesty

Wee do nott hear there is any demand of farthings and half pence at present, and though there should be a want in some places, it seems to proceed from an unequal distribution, for wee are informed they are over stocked with them in other places As at the General Post Office, about Newcastle and at Leicester.

Wee are further of opinion that the Coinage of halfpence & farthings in this Kingdom should be to the intrinsick value (the charges of the Coinage & Incidents deducted) but if that be not thought adviseable at present for fear of stopping the currency of those that are already abroad. Wee humbly conceive that whenever a new Coinage shall be thought convenient, it should be done in small Quantities as her Majesty from time to time shall appoint, to supply the decrease and loss of those already coined, without danger of new complaints by overstocking the Nation

All which is most humbly submitted to Your Lordships great Wisdom

I Stanley

[1]

Is: Newton

In Ellis