To the Rt\most/ Honble the Earl of Oxford & Earl Mortimer Ld H. Trēar of great Britain.

May it please yor Lordp

The last Autumn I laid before yor Lordp a Memorial wherein (to the best of my memory) I represented that if Copper worth 1112d per Lwt could be wrought into money by casting, the Copper & Coynage without edging the money would amount unto 1712 per Lwt, & allowing 212d more for the charge of putting off, buying & setting |up| coyning tools, repairing the buildings, building furnaces, paying Clerk{s} & a Comptroller, & other Incidents; the whole would amount unto 20d per lwt. And after so much was coyned as was sufficient to supply the present want of copper money (wch I recconed might be about 80 or 100 Tunns) the surplus above all charges, if there were any, might be paid into the Exchequer. And in the next coynage after a copper Mint was set up the money might be made heavier. But by further experience it appeared afterwards that such Copper could not be wrought by casting but must be wrought into barrs at the battering Mills.

I now beg leave to represent to yor Lordp that in my humble opinion the best method of coyning such bars into money, is to receive the same by weight & assay, giving Bills to the Importers & taking back the bills upon delivering back the same weight of Copper in scissel & money together, the Importer paying for the coynage of the money by the pound weight a certain Seigniorage to be accounted for by the Master & Worker. That the Importers will expect about 17d per pound weight above the Seigniorage for their copper & workmanship & for putting off the Copper money. And that the Moneyers insist upon 212d per lwt for their work, & it will cost an halfpenny per lwt to the Graver & Smith & a Clerk, in all 3d per lwt, to be paid out of the Seigniorage in all besides the allowance to the Master or his Deputy & such other Officers as shall be appointed, & besides the repairs of the buildings & charge of the coining Tools.

All which &c

© 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

Privacy Statement

  • University of Oxford
  • Arts and Humanities Research Council
  • JISC