Response to the tender of Peter Floyer and Charles Shales for melting down hammered silver coin and converting it into standard silver: their proposed fee is excessive and they should be beaten down

Author: Isaac Newton

Source: MINT 19/1/197, National Archives, Kew, Richmond, Surrey, UK

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  - 1 January 2001
    - Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young
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    - Retrofitted from MINT00927 by Will Scott
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<196r>

To the Right Hon^ble the Lords Com^rs of his Majesties Treasury.

May it please Yo^r Lord^ps

In obedience to yo^r Lord^ps Commands I have perused the Proposals of M^r Peter Floyer & M^r Charles Shales for receiving the hammered money & delivering the full weight thereof in standard silver into the Mints deducting only for a recompence eight grains out of every ounce Troy, w^ch is 12^d $\frac{1}{2}$ $\frac{1}{2}$ farthing in every pound weight. I have also perused M^r Hall's consideration upon the said Proposalls wherein he lays before yo^r Lord^ps what in his opinion the charges of performing that service may amount to upon the pound weight, viz^t

		d
For the first melting		$\frac{3}{4}$
For the wast in melting		2	the sweep being estimated at a farthing.
For the loss by the worsness		2 $\frac{3}{4}$
For refining		$\frac{1}{2}$	$\frac{1}{2}$ farthing.
For incidents		$\frac{1}{2}$
	In the whole	6 $\frac{1}{2}$ & $\frac{1}{2}$ farthing.

|This allowance I conceive to be sufficient.| And I most humbly propose that the Gentlemen may further deserve for their care trouble & hazzard in so great an undertaking one penny upon every pound weight: w^ch makes the whole allowance upon every pound weight to be 7^d $\frac{1}{2}$ & $\frac{1}{2}$ farthing.

All which is most humbly submitted

to yo^r Lo^ps great wisdome.

^[1]

Is. {Newton}

^[1] Mint Office Feb. 22
1696.