'The late Laws about y^e Coinage'

<502r>

The late Laws about y^e Coynage.

On

On or before Feb. 1 1695 one or more of y^e L^ds of Treary to cause all y^e clipt money (st{illeg}ing|andar|d or |of| courser {sic} allay) in the exchequer, that of every branch apart, to be told, &|w|eighed, melted into Ingots, assayed & sent{illeg} to y^e {illeg}|m|int to be redu{ced} to standard & coyned & paid back to y^e Excheq^r upon the several changes, deducting only the charges of coynage (not exceeding 14^d ꝑ lw^t) & melting & refining, & the tale of y^e new money paid back upon every branch to be registred that y^e Deficiency between that & y^e deficien tale of y^e clipt money may be known in order to make it good by Parliam^t. The Receivers to receive all clipt money (standard or of courser {sic} allay \& not plated or washed over/) by tale till May 4 1696, & y^e Tellers in y^e Excheq^r to receive y^e same & also all lo{illeg}|a|nes in y^e like money till Iune 4 1696, & one or more of y^e L^ds of Treasury shall once or oftener e{illeg}|ve|ry 14 days cause it all to be melted down into Ingots ({illeg}|e|very branch apart) assayed & sent to y^e Mint by Indenture expressing the \weight &/ fineness of every {illeg}|In|got & y^e branch to w^ch it belongs, to be there coyned & paid back weekly as above, & y^e tale registred in y^e Excheq^r y^t y^e Deficiency may be known. 7 Gul. I

Such Mints as his Maj^ty shall erect in y^e country not being less yⁿ four to be under y^e methods & directions {illeg}|p|rescribed in this Act

All unclipt money to be punched through before Feb. 10.

Ki{illeg}|n|gs o|O|fficers injuring any person to make double satisfaction.

In every 100^lb there shall be 40^℔ there & 10^℔ in sixpences besides small \money/ {sic} money of 20^lb {illeg}|o|n y^e M^r & Worker for every offence, one $\frac{1}{2}$ to y^e K. y^e other $\frac{1}{2}$ to y^e Informer

Sixpences not clipt within y^e inner ring being sterling, not prohibited currency. 7 Gul. I

A Duty yef|a|rly of 2^s on every house + 4^s on every house w^th 10 windows + 4^s on every house w^th 20 windows payable \by y^e Tenants & occupiers or inhabitants/ for 7 years from Mar 25 1696 hal{illeg}|f| yearly, the 1^st pay{illeg}|m|^t to {illeg}|b|egin Sept 29 1696. Iustices of Peace Commiss^rs for y^e last 6 years. After Iune 24 \1696/ loans allowed not exceeding 1200000^℔ at 7 per cent for y^e 1^st moiety & 8 ꝑ cent for y^e last & taxfree. All the money so raised upon Loans or otherwise by this Act (excent interest & repaym^t of Loanes & Salaries &c) shall be applied to make up y^e Deficiency between the clipt & the new money of every branch. 7 & 8 William. pag 419.

Plate Wrought Plate \or other manufactured silver/ imported from May 4 to Novem 4 1696 into any of y^e Mints to be there melted down \reduced to standard/ recoyned & repaid standard weight for standard weight \according to y^e course of y^e Mint/ without any deduction for charge of coynage. T{illeg}|h|e Master to give \Bills of/ receipts denoting the weight fineness {illeg}|&| value thereof w^th y^e day & order of its delivery into y^e Mint And upon producing the Bill to y^e Auditor of Excheq^r. it shall be entred in y^e Receipt of Excheq^r & an Order shall be delivered |to| \drawn for paying/ the Importer a reward of 6^d ꝑ oz sterling out of such funds as are setled by Parliam^t for supplying the deficiencies of clipt monies. Inns Alehouses Taverns Victualling houses prohibited {wrou} wrought Plate (except {spoon}) upon pain of f{illeg}|o|rfeiting the same t{illeg}|o| him that shall sue for it. Presses called in w^ch may be used in coynage & Presses for coyna{illeg}|g|e prohibited upon pain of forfeiting 500^℔. {illeg} Clipt moneys brought in \before May 4/ upo{illeg}|n| y^e hereditary Excise on liquors or y^e Excise for life \or {illeg}|R|evenue by y^e Post office/ & paya{illeg}|b|le on Tallies in course {sic} & for y^e Interest thereof shall be carried by y^e Comm^rs of Excise \& Rec^r for y^e Post Office/ to y^e Exche{illeg}|q|^r there melted down, recoyned at y^e Mint & returned to y^e Excheq^r (except the charge of melting refining {illeg}|&| coyning) & sent thence to y^e Comm^rs of Excise & Rec^rs of Post Office to be payd out &c & Accounts of the Deficiency or difference between the clipt moneys <502v> & new moneys to be kept by Comm^rs of Excise & Rec^r of {illeg}|P|ost Office to be be {sic} made good at y^e publick charge.

Exportation of Bullion & currency of clipt money prohibited

Guineas after Apr 10 1696 at 22^s a piec{illeg}|e|

The Master & Worker \{is}/ impowered to imploy others instead of y^e Moneyers. 7 & 8 Gul. p. 622.

An oath that the manufactured or\impor{illeg}|t|ed/ wrought Plate was importe manufactured \on or/ before y^e 25^th of March 1696, & imported wrought plate w^ch was manufactured afterward to be forfeited to any one that shall sue for it 7 & 8 Gul. p 697.

From Novem 1695 Gold may be {illeg}|a|gain received & coyned in the Mint but not by y^e Coyna{illeg}|g|e Duty except for y^e African company. One or more Mills or|&| Presses to be set apart for ☉ & the courses of ☉ & ☽ to be kept apart 8 Gul. pag 4.

All hammered money clipt or unclipt, imported from Novem 4 1696 to Iul 1 1697 into any of y^e Mints, to be there received by the Mints at y^e rate of 5^s 4^d ꝑ oz Troy. All y^e Kings Receivers & Collecters from Nov 14 1696 to Feb 1 {illeg}|en|suing to receive Loane & arrears of aids & Taxes due before Feb. 1 & further to Iune 1 all future Aids Taxes & other Revenues & Duties at 5^s 8^d ꝑ oz And after Dec 1 no hammered silver to be current but by weight at 5^s 2^d {illeg}|p|er o{illeg}|z|. Yet moneys received by tale by any Collecte|o|r before Nov. 18 may upon y^e Oath of y^e Collector be paid to Receiver till Dec 18 & by y^e {illeg}|R|eceiver \|( &| (upon his oath)/ into y^e Excheq^r till Ian 10. And all the hammered money brought into the Excheq^r upon any account whatever shall by direction of y^e Lords of Treasury be melted down from time to time & sent to y^e Mint or Mints to be coyn reduced into sterling & coyned & the new money (except the charge \{illeg}/ of melting & coyning shall be returned into y^e Excheq^r & placed to y^e branches it proceeded from. And all money received in Taxes {illeg}|&| Lones {sic} at 5^s 8^d ꝑ oz shall be carried to y^e next adjacent Mint & there coyned before it be brought into y^e Excheq^r. |How| The \hammered/ money raised in Herefordshire for making navigable y^e Rivers Wye & Lugg too be paid at 5^s 8^d ꝑ oz to y^e Rec^r Gen^l & coyned. 8 Gul. 3 pag 3.

A Duty upon Paper \{Pastbawn}/ Vellum & parchment for two years commencing from Mar. 1 1696, \towards paying/ the 5^s 4^d ꝑ oz \(allowed for the former Act)/ for hammered moneys & making good the Deficiencies of Loanes \in {the}/ in hammered money recoi\occasioned/ {illeg}|by| recoyned|in||g| thereof & for paying the allowance for wrought plate & for{illeg} bearing the wast & charges of \(receiving melting refining &)/ coyning {th{illeg}|e|} said hammered money & plate. Moneys not exceed 125000^℔ may be lent upon this Act at 8 ꝑ cent. The Master & Worker in receiving hammered money at 5^s 4^d per ounce shall separate & cut in pieces all base & counterfeit monies & return such pieces to the bringers thereof & weigh the residue & compute the same at 5^s 4^d ꝑ oz & the proper Officers & Clerks of y^e Mint shall enter the same in Day books according to the cou{illeg}|ur|se of the mint, specifying the names of the Importers, the \date or/ times of Importation, the weight & quantity imported & the amout {sic} thereof at y^e said rate of 5^s 4^d ꝑ oz, & the Master & Worker shall <503r> a receipt thereof specifying all the said particulars, & {illeg}|o|ut of the money arising by this Act shall defray the necessary charges of receiving, melting down, refining & recoyning {illeg}|t|he said hammered monies so imported at 5^s 4^d ꝑ ounce & y^e wast incident thereunto & also pay back in new money {illeg} 5^s 4^d ꝑ ounce in due course of the Mint

And in like manner the M^r & Worker is to receive of the Kings receivers the hammered silver monies of the Taxes or Revenues, to separate & cut in pieces all base or counterfeit monies & return such monies to y^e bringers thereof & weigh the rest & compute it at 5^s 8^d per ounce & enter it in |Day| books according to y^e cou{illeg}|rs|e of the Mint specifying the names of the respecti{illeg}|v|e Receivers bringing the same & the day or time of its importation & y^e weight & quantity & amount thereof at 5^s 8^d per ounce & the Revenue or Tax to w^ch it belongs & to give the Receiv Importer a Receipt thereof specifying all the aforesaid particulars, & to cause the same to be melted assayed & reduced to standard & the standard weight thereof entred in books, & the same \standard weight/ to be recoyned & \all the new moneys proceeding from y^e said silver to be/ paid back except e{illeg}|x|cept {sic} the necessary charges of receiving melting down refining & coyning the same & the wast thereunto incident, unto the respective Importers who in their accounts to y^e King shall be allowed the deficien{illeg}|c|y occasioned by recoyning the same, that is to say the Difference between the summ of y^e hammered money brought into the Mint \computed/ at 5^s 8^d per ounce & the summ in tail of the new mon{illeg}|ey| from received back from the Mint.

Vndue preference {how} punished

The Master & Worker may use the Melting house in Westminster

Inferior collectors to pay their money to their respective Receivers generall to be carried into y^e next adjacent Mint

If more money then 125000^℔ arise by this Act the surplus to be kept in the Excheq^r to be disposed of by Act of Parliam^t. 8 & 9 Gul. p. 143.

<503v>

Extracts out of the acts of Par^t relating to the great recoinage