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A34498 Copy of a pape [sic] presented in the year, 1681, to the then Duke of York vvhilst he was in Scotland; entituled, Considerations on the Scots Mint; and of a commission granted under the Great-Seal, in the year, 1682. by King Charles the Second, for the tryal of the mint; and of the reports made thereon: together with the copies of His Majesties several missive letters, containing his approbation, and further determination thereanent; faithfully transcribed from the originals. 1691 (1691) Wing C6183B; ESTC R215455 28,778 48

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assumed by the Generals Remedies and all for he would not allow any Defalcation to the Workmen or Wardens as appears by an Accompt given in all Written with the General 's own Hand and the first Journal consisting of Seventeen thousand Stone will by the rule of Proportion afford of free Gain two hundred twenty six thousand three hundred seventy eight Pounds so that the free Gain of both the Copper-Journals amounts to Three hundred and ninety two thousand eight hundred thirty three Pounds whereof there being only due to the Officers of the Mint by His Majesties Gift the Profit arising from Six thousand Stone which is about the fift part of the free Profit they have gotten So that they are justly due to the King of the Profit that they have gotten of the said Copper-Coyn Three hundred and fourteen thousand Pounds Scots which in English Money is Twenty six thousand one hundred and sixty six Pounds thirteen Shillings four pence But there being much more Coyned out of the stone of Copper the first journal than was coyned out of the Stone of Copper the second Journal as is clear by their own Depositions the Profit must be yet a great deal more and the Profit arising to the Generals and Masters of the Mint from the Bullion weight and fineness of the Coyn and Exaltation-money can hardly be well known but it appears by a Claime given in by the Generals to the master whereby they crave the half of the Benefit of the twelve shilling for the ounce of Bullion not payed in by the Merchants in specie that should have been employed for the buying of Bullion the whole Bullion of the Kingdom payed in Twelve Shilling for the Ounce being an Hundred and fifty Stone yearly at Five Pound Ten Shilling Eight Pennies Scots upon the Pound beside the Kings Twelfth part for the said one Hundred and Fifty Stone will amount yearly to the Sum of Thirteen thousand two hundred and eighty Pounds Scots which from Candlemass 1670 conform to the Act of Parliament by which Merchants were allowed to pay in to the Mint Twelve Shilling in place of every Ounce of Bullion being Twelve years and a half amounts to the Sum of an Hundred and Sixty Thousand Pounds Scots and the Profit arising by the difference of the Coyn from the indented Standart-Plate doth thus appear the Scots Coyn being often Two Grains less than Eleven Dinnier Fine which being Four Grains less than the indented Sandart-Plate they usually working upon the Remedies of Fineness which with the Remedies of Weights will amount to an Hundred Pound Sterling yearly which for the space of Sixteen years by-past will amount to the Sum of Nineteen Thousand Two Hundred Pounds and the Profit arising by the Exaltation-Money being Three Shilling Two Pennies upon the Ounce which is Forty Pound Ten Shilling upon the Stone upon two hundred Stone that is Coyned yearly which for an year and a half by-past will amount to Twelve thousand Pound and the Profit of Two hundred Stone lying uncoyned in the Mint the time of the Exaltation by that same rule will amount to Eight thousand Pound and the Profit arising from the King's Stock of Twenty thousand Merks allowed yearly for buying of Bullion might be Coyned and Exchanged at least ten times in a year being Two thousand two hundred seventy three Pound yearly for these Twenty one years by-past since the King 's happy Restitution will amount to the Sum of Forty seven thousand seven hundred seventy three Pounds Scots Money and the double Payment of the Generals Sallaries for the space of three years preceeding the year 1664 which was unjustly exacted is Four thousand and nine hundred Pounds and the yearly Interest arising by the Bullion payed in to the Generals and Master of the Mint by the Merchants and not Coyned in due time seing it appears by the Books that there was always 200 Stone of Bullion in their hands and not Coyned for the space of 16 years ever since the year 1666. will amount to the Sum of an hundred and twenty eighth thousand pounds which Sums in all will amount to the Sum of six hundred and ninety nine thousand eight hundred and seventy three pounds Scots which in English Money is fifty eight thousand three hundred twenty two pounds fifteen shillings and which is beside the profit of the Money Coyned without Essay which cannot be known it being oft-times worse than the Standart which likewise will amount to a great Sum All which profits albeit they belong to the King yet they have been retained by the Generals and the Master and imployed for their own privat use and thereafter there being some Information made by the Lord Hatton that he was willing to declare and give an Account of all things relating to the Mint And the Commissioners having sent two of their own number to him to know if he would yet give a full and ingenuous declaration of things relating to the Mint he absolutely refused unless First he was allowed to see all the Depositions of the other Officers and Evidences adduced which being altogether contrair to Law and Form The Commissioners were of the Opinion that it could not be granted but declared to him if he would give a full and ingenuous Accompt of all things relating to the Mint he should then see all the other Officers Depositions and other Evidences adduced before Report were made to His Majesty which he refused And as to the Trial of the Fineness of the Money coyned in His Majesties Mint the Commissioners humbly represents to His Majesty that the practice formerly used in the Mint in order to a Trial of the Fineness of the Money coyned was that at every Journal there was a part cut out of an whole peice of Coyn reserved in the Pixe and the peices of several Journals being all melted together in one Lignat was to be tried by the Standart By which Trial His Majesty may be grosly abused and such a Trial is altogether elusory for the peice of Silver that made up the Lignat being taken out of the Coyn of several Journals The Officers of the Mint might coyn one smal Journal of utter fine Silver which is Twentie two Grains above the Standart and one other great Journal of Twentie two Grains below the Standart The essay peice of each Journal being of equal quantitie and both those peices being melted into one Lignat it is evident that the Lignat will be of equal fineness with the Standart and there being perhaps ten times as much coyned in the Journal which is below the Standart as was coyned in the Journal which was above the Standart there will be nine parts of eleven of the Money coyned that will be twentie two Grains below the Standart So that albeit the Lignat be of equal fineness with the Standart yet nine parts of eleven of all the Money coyned in this Kingdom may be below the Standart and probably by that manner