Observations upon the Estimate of the neat profit of coyning 1500 Tunns of Copper into half pence & farthings.

Obs. 1. In the last coynag{illeg}|e| of copper money an hundred Tunns per an in six years made a great complaint in Parliamt whereby the coynage was stopt all the seventh year by reason of too great a quantity of copper money, & after the coynage of another hundred Tunns the nation was fully stockt during the next five or six years. Therefore six or seven hundred Tunns is abundantly sufficient to stock the nation & a coynage of 1500 Tunns in five years time is not practicable by reason of the c{illeg}|l|amours it would make amongst the people. At present there wants not above 80 or 100 Tonns in all.

Obs. 2. If a pound weight of copper be cut into 20d, {illeg}|a| Ton in coyn will amount only unto 186li. 13s. 4d. It must be cut into 22d that a Tonn may make 205li. |But its better that it should be coyned nearer to the intrinsic value.|

Obs. 3. Casting, drawing, cutting, flatting, scouring, nea{illeg}|l|ing, blanching drying & coyning cannot be done for 35li per Tonn. And 11li per Tonn for changing the copper money is so{illeg}|m|ething too {illeg}|m|uch. In the last coynage of copper money 5d \per Lwt/ was allowed by the Patentees for casting drawing cutting flatting scouring nealing drying & coyning including the work of the Graver & Smith. There was also 40s per Tonn allowed to a Comptroller. And if 7li6s 8d per Tonn be allowed for putting off, the whole charge including the pirce of \the/ copper at 10d per Lwt will amount unto 16d per Lwt. Which deducted from 22d per Lwt {illeg}|le|aves a profit of 6d per Lwt. An{illeg}|d| this profit in coyning 1500 Tonns amounts unto 85000li, out {illeg}|o|f wch something may be abated for housrent clerks coyning tools & incidents.

Obs. 4. He that assays coyns sizes & coyns the copper money should have not be impowered to make any profit by coyning it too light or too coarse, & therefore should h{illeg}|a|ve nothing to do with buying or providing the copper or distributing it to the pe{illeg}|op|le by tal{illeg}|e|: but should only receive it by weight & assay & deliver it back in money by weight & assay & have it in his power to refuse bad copper.


An Estimate of the Neat Profits of the Coyning 1500 Tonns of Copper into half pence & farthings

If one pound of Copper will make 20d when coyned, a To{illeg}|n|n in coyn will amount to }205.6.8
1 of Copper at 10d, per Tonn 93.6.8
The c|C|asting Drawing Cutting Flatting scouring nealing blanching drying to be ready for coyning with other incident charges }25.0.0
The Impression 10.00128.6.8
There remains per Tonn 77.0.0
Out of wch will be lost in Exchange One 7th receiving but 1s silver for 14d copper }11.0.0
There will then remain 66.0.0
At wch rate 1500 Tonn of Copper will produce 99000.0.0
House Rent Charge of Clerks &c for 5 years at 300li per an will amount to } 1500.0.0
Building a workhouse & furnace for melting cutting &c } 500.0.0
Then there will remain clear Lb 97000.0.0

© 2019 The Newton Project

Professor Rob Iliffe
Director, AHRC Newton Papers Project

Scott Mandelbrote,
Fellow & Perne librarian, Peterhouse, Cambridge

Faculty of History, George Street, Oxford, OX1 2RL - newtonproject@history.ox.ac.uk

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