Holograph draft of MINT00173 (Mint 19/1/109)

<295r>

The present state of the Coynage in relation to the fineness of the moneys.

Assaying & refining are operations of the same kind. The Assayer refines a small piece of any mass of gold or silver & by the decrease of its weight makes his report, & if there be no decrease, that is, if the mass be of the same fineness with the refined Assay piece, he reports it two carats better than standard, or twenty & four carats fine; & this is fine gold in the sense of the Law. The Assay-piece therefore when the Assayer works exactly becomes fine gold or fine silver in the sense of the law. And because the Assayer works more exactly to a rule then the Refiner, & makes better dispatch, the Assay is made the standing universal Rule of valuing gold & silver in all nations in point of fineness, & the Law in ordeining that standard Gold shall be 22 Carats fine & standard silver 11 ounces two penny weight fine, means by the Assay.

The standard Triall pieces are made by the Assay. First the Iury procures gold & silver refined by the Refiner, & then assays the same several times to see if they be of a just degree of fineness; that is, the gold just two carats better then standard & the silver just 18 penny weight better. And then the Trial-pieces are made the Iury assays them several times to see if they be standard. They must agree therefore with the Assay as exactly as is possible least there be two standards.

The assays of gold ought to be made with two waters & no more, this being the constant practise of Assaying, & the water ought to be of the usual strength, & to work the usual time, & in the usual heat, & the Assay piece ought to be hammered to the usual thinness that the assays may be uniform.

Refiners find it difficult to refine gold to the degree of 24 carats. They seldome make it above 23 Carats three three quarters of a grain fine, & by fine gold generally understand gold of this degree of fineness. And thence it comes to pass that the goldsmiths are generally of opinion that gold cannot be made above 24 carats fine. But if when they have watered their granulated gold once or twice with Aqua fortis, they should dulcify it & grind it very fine as painters do thir colours, & then dry it & water it once or twice more with double Aqua fortis in the same degree of heat as before, & keep it longer in the water then before, stirring it now & then with a wooden stick to make the gold mix with fresh water, the gold will become finer then four & twenty carats. Chymists also tell us that Gold may be made finer by Antimony then by Aqua fortis and consequence then by the Assay.

If Refiners should work perfectly in the same manner with Assayers, that is, if they should mix gold with silver in the same proportion, & drive it off the Test with the same proportion of lead & hammer it to the very same thinness & water it with waters of the same strength in the same degree of heat during the same length of time; their gold would become just 24 carats fine. But they work not with so much curiosity & eavenness. In the fineness of gold made fine by the Refiners art there is much more uncertainty then in that of gold made fine by the Asaay.

The trial of the moneys in the Pix is to be performed after <295v> the most just manner that can be made by fire by water by touch or by weight or by all or by any of them. If the Triall pieces be made exactly, the trial thereby is the most expedite & the least liable to errors. But a Trial piece may happen to be erroneous & then other ways of assaying may be also usefull. For the Assay by the assay-weights exactly made will discover the error of the tryall piece if there be any, & how great that error is, & the Assay by the touch is also lawfull tho it be less exact & not to be depended upon alone.

At the last trial of the Pix the Iury by the Assay found that the money was standard full & the Trial piece a quarter of a grain better then the money, & reported in their Veredict that the money was a quarter of a grain worse then standard by the Trial piece. The Report implied that the Trial piece was standard & the money & quarter of a grain wors then standard, tho the Iury found by the triall that the money was standard & the trial piece a quarter of a grain better then standard.

When I came first to the Mint & for some years before, the Importers were allowed the advantage of almost all the Remedy & then the gold imported made about four pounds & two pence per ounce standard. The Goldsmiths now complain that their gold doth not make four pounds per ounce. It should make only three pounds nineteen shillings & eight pence three farthings, & so much it hath made ever since the last trial of the Pix.

While the Importers were allowed the advantage of almost all the remedy, there wanted about thirty grains of fine gold in four & forty guineas & an half, & as much or more fine silver in sixty & two shillings. There is now the just quantity of gold & silver in the moneys, & there wants only about 15 grains of copper in 44$\frac{\mathrm{1}}{\mathrm{2}}$ Guineas, or the thirds part of a grain of copper in a Guinea, which want is of no value or consequence being less then the thousandth part of a penny, & is occasioned by the want of so much allay in the trial pieces.

<297r>

The present state of the Coynage in relation to the fineness of the moneys.

Assaying & refining are operations of the same kind. The Assayer refines a small piece of any mass of gold or silver & by the decrease of its weight makes his report: & if there be no decrease, that is, if the mass be of the same fineness with the refined Assay piece, he reports it two carrats better then standard, or twenty & four carats fine: & this is fine gold in the sense of the Law. The Assay-piece therefore when the Assayer works exactly, becomes fine gold or fine silver in the sense of the Law. And all gold & silver of the same degree of fineness is fine gold & fine silver among merchants in the sense of the Law. And because the Assayer works more exactly to a rule then the Refiner, & makes better dispatch, the Assay is made the standing universal Rule of valuing gold & silver in all nations in point of fineness, & the Law in ordeining that standard Gold shall be 22 carats fine & standard silver 11 ounces 2 penny weight fine, means by the Assay.

The assays of gold ought to be made with two waters & no more, this being the constant practise of assaying; & the waters ought to be of the usual strength, (the second water stronger then the first,) & to work the usual time & in the usual heat, & the Assay piece ought to be hammered to the usual thinness that the Assays may be uniform. And the assays of silver ought to be made with a due proportion of lead in a due & eaven heat, & as soon as the lead is blown off & the silver looks bright & glittering, the silver must begin to cool without roasting it, & it must cool slowly that it do not spring. But in refining gold & silver in great quantities these niceties are not observed

Refiners find it difficult to refine gold to the degree of 24 carats. They seldome make it above 23 carats 3 grains & 3 quarters of a grain fine, & by fine gold generally understand gold of this degree of fineness. And if gold at any time prove finer upon the Assay, Assayermasters out of prejudice do not report it finer. And thence it comes to pass that the Goldsmiths are generally of opinion that gold cannot be above 24 carats fine. But if when they have watered their granulated gold once or twice with Aqua fortis, they should dulcify it & grind it very fine as painters do their colours, & then water it once or twice more with double Aqua fortis in the same degree of heat as before & keep it longer in the water then before stirring it now & then with a wooden stick to make the gold mix with fresh water the Gold will become finer then by the Assay, & by consequence <297v> finer then four & twenty carats. Chymists also tell us that Gold may be made finer by Antimony then by Aqua fortis, & by consequence then by the Assay; & Gold refined by Antimony is of a better colour then Gold refined by Aqua fortis, & by reason of its fineness will god much further in gilding as I have heard. But the Refiners of this city know not how to refine gold by Antimony. silver by more lead & being roasted, becomes finer then by the common way of assaying, but not a halfpenny weight finer.

If Refiners should work perfectly in the same manner with Assayers, that is, if they should mix gold with silver in the same proportion & drive it off the Test with the same proportion of lead & hammer it to the very same thinness & water it with waters of the same strength in the same degree of heat during the same length of time; their gold would become just 24 carats fine. And by imitating the Assayer their silver would become 12 ounces fine. But they work not with so much curiosity & eavenness. Their fine gold & fine silver must be assayed to know the just degree of fineness.

The standard Triall Pieces are made by the Assay. First the Iury procures gold & silver refined by the Refiner, & then assays the same several times to see if they be of a just degree of fineness, that is the gold just two carats better then standard & the silver just 18 penny weight better. And when the trial pieces are made the Iury assays them several time to see if they be standard. They must agree therefore with the assay as exactly as is possible least there be two standards, one by the assay-weights the other by the Triall-piece. And assay taken from them in several places must agree with one another to see if the fine gold & fine silver be eavenly mixed with the allay.

The triall of the moneys in the Pix is to be performed after the most just manner that can be made by fire by water by touch or by weight or by all or by any of them If the triall piece be exactly made, the triall thereby is the most expedite & the least liable to errors. But a Triall piece may happen to be erroneus, & then the other ways of assaying, as they are lawfull, so they may be also usefull. For the assay by the assay-weights exactly made will discover the error of the Trial pieces if there be any & how great that error is; & the Assay by the touch being very easy may be also used to see how it agrees with the other assays, but is less exact & not to be depended upon alone

At the last Trial of the Pix the Iury by the Assay found that the money was standard full & the Triall piece & quarter of a grain better then the money, & reported in their Veredict that the money was a quarter of a grain worse then standard by the Trial piece. The Veredict implied that the Trial piece was standard & the money a quarter of a grain wors then standard tho the Iury found by the Triall that the money was standard & the <298r> Trial piece a quarter of a grain better then standard. By my assays this Triall piece is five twelfts of a grain better then standard, that of 1688 is a sixt part of a grain better, that of 1660 is standard. Quære If upon any Trial of the Pix the Trial piece prove better or worse then standard, are not the Iury to ascertain & report the error? & may not the Master of the Mint by an Order of Council allow for that error in coining the money by that Trial priece for the future, without putting the Government to the trouble & charge of making a new one? Or must a new trial piece be made or the money continue to be coyned & tryed by a fals trial piece without in {illeg}ing in the error & so the Company of Goldsmiths have it in their power without controll to alter the standard & make a new standard as often as they are to make a new standard tryal piece?