301), with amendments in another hand, and signed by the Mint Board

Author: Isaac Newton

Source: MINT 19/2/420-21, National Archives, Kew, Richmond, Surrey, UK

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<420r>

To y^e. R^t: Hon^ble: Sidney L^d: Godo{i}|l|p{i}|h|in. L^d: Treasur^r: of England

May it please Yo^r L^dp:

In Obedience to yo^r: L^dps: Order of Reference of the 16^th. of Iune last past, upon y^e annext Proposal of M^r: Abel Slaney, for himself, & Partners, for a new Coynage of 700 Tuns of half pence & Farthings We do humbly acquaint yo^r: L^dp: that We have enquir'd into all the Coynages of that sort, since y^e Year {illeg}|1672|. And do find that in y^e Reigns of King Charles y^e 2^d, King Iames y^e 2^d, & in y^e beginning of y^e Reign of y^e late King & Queen, the coinage of halfpence & farthings was performed by One, or more Commissioners, who had money imprested from y^e Excheq^r: to buy Copper, & Tin, and coin'd at 20^d ꝑ pound Haverdupois And accounted upon Oath to y^e Governm^t: for y^e Produce thereof.

That upon calling in y^e Tin Farthings, & halfpence, (by reason of y^e Complaints made against them) there was a Patent granted to y^e Proposer & others, who contracted to change y^e Tin Farthings, & halfpence, and to enable them to bear that charge, they were allow'd to Coin 700 Tuns at 21^d ꝑ pound weight, without being accountable to y^e Governm^t: Which reason now ceasing, We are humbly of opinion, that y^e former Method, by Commission is most advantagious to y^e Government. |[|And {illeg}e particularly,\especially/ {y^e}\if/ y^e same Method be used for coining Copeer, that is observ'd for Gold, & Silver; viz^t: that Money be imprest from time to time to y^e {paper}\a fitt/ Officer of y^e Mint, to buy Copper. That y^e Coinage be carry'd on under y^e Care, & direction of y^e Principal Officers \of y^e mint/ who shall keep due Entrys thereof in their Books, and that y^e whole profit, and advantage of such Coinage be accounted for to her Majesty.]

We do not hear there is any demand of farthings, & halfpence at present, & thô there should be a want in some places, it seems to proceed from an unequal distribution; for we are inform'd they are overstock'd with them in others places; As at the General-Post-Office, about Newcastle, & at Leicester.

We are further of Opinion y^t y^e Coinage of Halfpence & Farthings in this Kingdom should be to y^e intri{ns}ick value, (y^e charges of the Coinage \& Incidents/ deducted) but if that be not {thou}ght advisable at p^rsent for fear of stopping y^e Currency of those that are already abroad, We humbly conceive that whenever a new Coinage shall be thought convenient, it should be done in such small Quantities, as her Ma^tie: from time to time shall appoint, to supply y^e decrease, & loss of those already coin'd, without danger of new Complaints by overstocking the Nation.

All which is most humbly submitted to yo^r Lord{^ps}

great Wisdom.

^[1]

I Stanley

Is. Newton

In. Ellis.

<421v>

Report of y^e Officers of the Mint, upon y^e proposal of M^r Abel Slaney for Coining Copper halfpence and Farthings.

|Entred in the {illeg} book|

^[1] Mint-Office y^e 1^st of Iuly 1703