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ID	Title	Author	Corrected Date of Publication (TCP Date of Publication)	STC	Words	Pages
A49333	A report containing an essay for the amendment of the silver coins	Lowndes, William, 1652-1724.	1695 (1695)	Wing L3323; ESTC R39081	52,244	163

Tenthly That the Warden Master Worker Comptroller and Assay-Master of the Mint do continue at the Tower and take the immediate Care of the Work there And that they Substitute Fit and Skilful Persons as their Deputies such as the King or the Lord Treasurer or Commissioners of the Treasury for the time being shall approve of and such as must be Answer'd for by their respective Superiors to Carry on the Works of the said Nine Mints in the Countrey which Substitutes shall be all Sworn for the faithful Discharge of their respective Trust and that the Members of the Corporation of the Moneyers and other Ministers Officers and Servants be distributed accordingly and small Private Marks if thought fit may be made to distinguish the Money that shall be Coin'd at the respective Mints Eleventhly That the Charge of making every Pound Weight Troy of Silver Moneys which at present is One Shilling and Four Pence Half-peny be made more Reasonable now so much is to be Coin'd and Re-Coin'd Twelfthly That at or near every Town or Place where there shall be a Distinct Mint Established as aforesaid there shall be also Settled and Fixt an Office which shall be and be called An Office of the Kings Change and the Chief Officer therein to be Named by His Majesty or the Lord Treasurer or Commissioners of the Treasury for the time being shall be called The Kings Changer and that these Changers shall have Tellers or Substitutes under them And they as well as their Substitutes shall be Sworn for the Due and Just Execution of their respective Trusts with regard not only to the King but also to every Person that shall have to do with them in respect of their Places Thirteenthly The said Officer called The Changer with such Tellers or Substitutes as shall be necessary shall daily and every Day Sundays only excepted attend at the Publick Office whereunto he or they shall be Assigned or at some other Market Town within the Counties of his District and when he is to attend at such other Market Town he shall cause the same to be Publickly Notified there by Affixing a Paper in some open Place in the Market next preceding and at the said Publick Office or at such other Market Towns as aforesaid the said Changer by himself or by his Tellers or Substitutes shall Receive and Take in all such Clipt or Diminished Money as are beforementioned as any Person or Persons shall bring to him in order to be Recoin'd and in Performance of his Office or Duty he or they shall be holden to Observe the Rules following RULE I. HE or they shall carefully View and Examine by the Sight every Piece or Parcel of the said Moneys as shall be so brought in and if he or they shall Observe any Piece or Pieces which shall seem to be so Weighty as that by the Eighth Proposition the same ought to be Currant upon the New Foot of Six Shillings and Three Pence for the Crown above-mentioned he or they shall forthwith cause the Weight thereof to be Tried in the Scale and if he or they do thereby find that such respective Piece or Pieces are of such Weight as that the same ought to be Currant upon the said New Foot without being Melted down the same shall be immediately Marked with some Impression by a Hammer and Redelivered to the Bringer thereof to be Currant at the Raised Value intended as aforesaid The Marking is Design'd chiefly to prevent his being troubled with it again at the Office RULE II. IF the Changer or his Teller or Substitute shall suspect any Piece or Pieces of Money brought in as aforesaid either Alone or in a Sum to be Counterfeit or to be such money as was not Originally Coin'd in the Royal mint of England that then and in every such Case he or they shall and may cause such Suspicious Piece or Pieces in the Presence of the Bringers to be Divided by Shears for that Purpose to be kept and used in the Office And if upon Dividing the same it shall Appear by the Grain or the Touch that such Piece or Pieces are of the goodness of Sterling Silver that then and in every such Case he or they shall retain such Silver as if it were not divided in order to be Recoin'd But if upon such Division the Silver shall appear to be worse than the Goodness of Sterling every Piece so divided shall be delivered back to the Bringer thereof who in that case must be contented with his own again in such a Condition that it will not serve to Defraud any Body else RULE III. AS to all the said Clipt or Diminished Moneys which shall consist of the Old Crown holding any Weight less than Eighteen Peny Weight the Half-Crown holding any Weight less than Nine Peny Weight the Old Shilling holding any Weight less than Three Peny Weight and Sixth Tenth Parts of a Peny Weight and the Old Tester or Six-pence holding any Weight less than One Peny Weight and Eight Tenth Parts of a Peny Weight which shall be so brought in to be Melted down and Recoined whereupon the loss above-mentioned is to be Born either by the State or by particular Persons or Both It is not certain at present how much of the said Loss by the Resolution of the Parliament shall fall upon the one or the other Neverthelss for the Explanation of this Project and to shew how far it is practicable one may as I humbly Conceive Assume any certain Part of this Loss to be born by the Publick as if it were Resolved And Considering that One hundred Pounds by Tale of all these Clipt or Diminished Moneys if they were in One Heap would not by the Estimation which I have made thereof under the Second General Head hold above Sixteen Pound Weight Troy or thereabouts one with another which the King's Subjects dealing therein do also find by daily Experience I do from thence infer that if the said Sixteen Pounds Weight Troy which now Runs for One hundred Pounds by Tale be brought to the Changer to be by him Received at Eight Shillings per Ounce then the said Eight Shillings per Ounce when it comes to be Paid in the New Money will Amount to Seventy six Pound and Sixteen Shillings which will plainly cast about Half the Loss upon the State and the rest upon the Owner of the Money who will also find some Recompence in the Raised Value of his Unclipt Moneys if he has any such Therefore let Eight Shillings per Ounce in the New Money be the Assumed or Stated Price to be Computed by the Changer for all the real Silver which he shall find to be remaining in these Clipt Moneys which Method of making good part of the Loss to the Subject by Allowing him a large Price for every Ounce of the real Silver remaining in his Clipt Money seems to me to be much more secure and to be in all respects a better way than by

belonging to the Change and such of the Officers of the Mint as ought to give Security and to require Weekly or other Accounts from the several Offices and particularly to cause the general Accounts of the said Changers and of the Accompting Officers of the Mint to be Passed in the Exchequer in such due Form as they ought to be and to allow such Salaries and Incident Charges as shall be reasonable for the performance of this Service and also to allow the reasonable wast in the Coinage Twentieth That all Persons Concerned may have free Access to the several Legers and Registers before-mentioned and no Fee or Charge shall be asked or taken of them for any Matter or Thing which is to be done by any Officer in Execution of this Project Twentyfirst That at the First Session of Parliament after Michaelmas 1696. the said Commissioners of the Treasury or Lord Treasurer for the time being and the said Under-Treasurer or Supervisor General for this Affair shall deliver fairly Written to each of the Two Houses of Parliament a True and Exact Account of all the Clipt or Diminish'd Moneys which shall have been brought in to be Recoin'd by the Tale and Weight thereof appearing in the respective Offices of the Changers and of all the New Moneys which shall have been Coin'd in the said several Mints distinguishing those proceeding from the Silver of the Old Moneys from the Coins made of any other Bullion and shewing particularly the Plate of the Retailers of Wine Beer and other Liquors and the Quantities of Money made thereof also the Totals of the said Registers for the Values of the Clipt Money and the Discharging of the same and how much if any part shall then remain Unsatisfied and the like Account shall be Presented to His Majesty The Fifth General Head Considers what must Supply the Commerce Pay Taxes c. whilst the Clipt Money is under its New Fabrication THis Question is to be Answered by Reminding your Lordships of several Particulars which have already occured in this Report with a small Addition as follows First The Weighty Money both Mill'd and Hammer'd now Hoarded will come forth at a Raised Value which according to the above Estimation may make One Million and Six hundred thousand Pounds more or less besides the Guineas and Half Guineas which are but too numerous at their present Rate Secondly The Bills for the Clipt Money will be so Profitable and Certain and have such a quick Course of Payment as aforesaid that they will serve as so much Running Cash and in the coming forth the Number of them will encrease from day to day that from First to Last they will by Estimation amount to above Three Millions Thirdly As those Bills are Paid off the New Moneys Coin'd with the Silver of the Clipt will come in their stead the Fabrication whereof will begin presently and the Work will be Carried on with as much Expedition as can be made by Ten Mints Fourthly Importers of Bullion and all others that have or can have any Foreign or English Silver even the Silver of Counterfeit Moneys in their Hands will have a visible Encouragement to carry the same forthwith to the Mint to be Coin'd Fifthly It may be Enacted That all Persons that Sell Wine Strong-waters Bear Ale or other Liquors by Retail shall by a Prefixt Day bring their Tankards Cups Dishes and other Plate to some or one of the Mints to be Coin'd into New Money at the Rate of Six Shillings and Five Pence Half-peny an Ounce under Pain of Forfeiture thereof and that the New Money proceeding from the same shall be Delivered to them according to the present Course of the Mint I have my Lords in this difficult Matter Considered and Digested as many things as were possible for me in so short a time and I cannot forbear before I end to Alledge that if the Coins are to be Amended and Established according to these Propositions which may be Rectified and Improved by Men of greater Judgment and Skill I cannot foresee that even whilst the Work is Carrying on there will Accrue such Publick Disorder Damage or Distress as the Nation Labours under before the Work is put in hand All which is most humbly submitted to Your Lordships great Wisdom and Iudgment WILLIAM LOWNDES 12 Septemb. 1695 In quodam libro vocato nigro scripto tempore Regis Henrici Secundi per Gervasium Tilburiensem de Necessariis Scaccarii remanente in Curia Receptae Scaccarii inter alia sic continetur Cap. 21. Officium Militis Argentarii Fusoris POrro Miles Argentarius ab inferiore Scaccario ad superius differt Loculum examinandi Argenti cujus supra meminimus quem cum intulerit Signatum Sigillo Vicecomitis sub omnium oculis effundit in Scaccario xxiiii Solidos quos de Acervo Sumptos prius Signaverit factaque Commixtione eosdem ut ponderi respondeant mittit in unum Vasculum trutinae libram ponderis in alterum vero de Denariis quod Oportuit Quo facto numerat eosdem ut ex numero constare possit si legitimi ponderis sint cujuscunque vero ponderis inventi fuerint seorsum mittit in Ciffum libram unam hoc est xx Solidos ex quibus examen fiat reliquos vero xxiiii Solidos mittit in Loculum Item duo Denarii praeter libram examinandam dantur Fusori non de Fisco sed de parte Vicecomitis quia in praemium sui laboris Tunc eliguntur a Praesidente vel a Thesaurario si ille absens fuerit alii duo Vic. ut simul cum Argentario Necnon Vicecomite cujus examen faciendum est procedant ad Ignem ubi Fusor ante praemonitus praeparatis Necessariis eorum praestolatur adventum Ibi iterum praesente Fusore hiis qui a Baronibus missi sunt diligenter computantur Fusori traduntur Quos ille Suspiciens manu propria numerat sic disponit eos in Vasculum ignitorum Cinerum quod in Fornace est Tunc igitur Artis Fusoriae lege servata redigit eos in Massam constans emundans Argentum Caeterum cavendum est ei ne citra perfectionem subsistat vel importunis aestuationibus vexet illud atque consumat Illud propter Regis hoc propter Vicecomitis Iacturam set Modis omnibus provideat quanta procuret industria ut non vexetur set ad purum tantum excoquatur hoc autem ipsum providere dicunt hii qui ad idem missi sunt a Majoribus Facto igitur examine defert illud Argentarius ad Barones Comitantibus illis tunc in omnium Oculis ponderat illud cum libra praedicta ponderis supplet autem mox quod ignis consumpsit appositis denariis ejusdem loculi donec aequilibriter se habeat examen cum pondere Tunc inscribitur idem examen desuper ducta Creta hiis verbis Everwicscir libra arsit tot vel tot denarios tunc illud Essaium dicitur Non