Response to a further proposal by the Irish Chancellor for a Dublin Mint

Author: Isaac Newton

Source: MINT 19/2/214-15, National Archives, Kew, Richmond, Surrey, UK

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  - 1 January 2001
    - Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young
  - 29 September 2011
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  - 25 August 2016
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  - 23 September 2016
    - Will Scott finished transcription
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<214r>

To the R^t Hon^ble the Lords Comm^rs of his Maj^ts Treary.

May it please yo^r Lord^ps

In obedience to yo^r Lord^ps Order of Reference signified to us by M^r Lowndes we have considered the Memorial of the Chancl|e|llour of Ireland about erecting a Mint in that kingdom [& also the Report of the late Warden & Master & Worker] & y^e other Papers accompanying |i|the said Memorial, & finding upon enquiry into the state of the coyn of Ireland that the forreign coyns w^ch make a great part of their silver monies are generally in great pieces w^ch are inconvenient for change in marketings & other small expences & that \by/ the want of smaller silver monies the coyning of greate{r} quantities of Copper monies for change hath been so much encouraged as to be complained of: we are humbly of opinion that this inconvenience may deserve to be remedied by recoyning the said forreign monies or some part thereof into smaller monies of the same weight allay species & impression w^th the monies of England, adding only such a mark of distinction as his Maj^ty shall think fit. And we beleive {sic} it cheapest & best for Ireland & safest for England to have this coynage dispatcht at once by erecting a Mint in Ireland for some short time (as eighteen months or two years) under the same laws & rules with this in the Tower but w^th less salaries & fewer Officers & by lowering the value of the forreign monies to bring them into this Mint And we are ready to promote such a designe & particularly to supply that Mint w^th standard weights, Tryal pieces, Dyes & Coyning Tools & to try their money.

The reasons by w^ch the former Officers of the Mint in some of the Papers referred to o^r consideration, opposed the coyning by different standards are so much of force against a difference in the Denomination or extrinsick value of the same pieces of money & in the proportion of Gold to silver, that we are of opinion (w^th most humble submission) that the agreeing of Ireland w^th England therein may deserve the consideration of the Government as a Preliminary to a Mint whenever they shall provide for the charge of erecting one.

The Directions in the Warrant of 14 Car. II referred to o^r consideration being applied & restrained to the present way of coyning by the Mill & Press without a Seigniorage & without fine & ransome upon two penny weight remedy in the single pieces we approve of.

If a standing Mint be desired for coyning from time to time the Bullion of Merchants & others we beleive it may put Ireland to a greater charge then to coyne the such Bullion in London \& how {illeg} it may in time affect En\the trade or governm^t of Engl. {sic}/gl {sic}and we do not know. {sic}/. Such a Mint may have been \often &/ much desired & if it hath at any time been granted, the Government has afterwards met with reasons to put an end to it\but has either not been granted or not suffered to continue/. For <215r> to use the words of our Predecessors in one of the Papers referred to o^r consideration, "It hath been the policy & caution of Kings & Queens of England to stock their Realm of Ireland with moneys (both for quantity & quality) coyned in their Mint in the Tower of London whereof one part yet retains the name of the Irish Mint; and King Iames (of happy memory) by his Indenture of the Mint caused his monies stampt for Ireland to be charged with an Harp crowned for distinctions sake whose Reasons and Examples (as we submissively conceive) may well admit yo^r Lord^ps first consideration

If the Government of Ireland shall think fit to discourage the exportation of English money from thence by setting a value something lower upon the forreign {{illeg}|so|} {{illeg}|th|}at when {{illeg}|M|}erchants {{illeg}|o|}r others have occasion to export Gold or Silver they may chuse rather to export the forreign monies then the English, there will be but little occasion for a Mint in Ireland hereafter. A difference of one or two per cent in the value of the monies may be sufficient for this purpose & will mend their Exchange without hindring the importation of the monies of Spain or Flanders into Ireland by Trade.

All w^ch &c