To the R–t. Honble. the Lord High Treeasr. of Great Brittain

May it please yor. Lordsp

In obedience to yor Lordsps Order of Referrence of ye 22th: Decembr Last. We have perused ye Annex'd Memorial of Mr Allardes the Master of Her Majtis. Mint at Edinburgh & humlby represent that ye Charges allowed to ye Monyrs. by Her Majties. Warrt: above 9d: ꝑ Lwt. Troy for Coinage of Silver are extraordinary & so are ye charges of refining ye Coursest Ingotts of Silver to bring ye rest to standard: And therefore booth those Charges are in Our humble opinion to be born by Her Majtie: out of ye Bullion for Coinage belonging to that Mint & to be placed by ye Master among the Incident charges in his Accounts. The Extra charges allowed to ye Monyers may amount to about three farthings ꝑ £wt. Troy. besides ye Charges of theire journey.

And We are further of Opinion that for preventing any stopp to ye Coinage The Rt. Honble. the Lords Commrs. of Her Majtes. Treasry. in Scotland be desired to give Orders from time to time to ye Collectr. of ye Bullion to pay upon Account such sum̄s of money to ye said Master as they shall finde sufficient for defraying as well ye extra as ye ordinary charges of ye Coinage, & to direct ye Wardens of that Mint to see that ye Moneys so paid be apply'd by ye Master duly & in just proportion to Every Mans service without any undue preference or neglect.

As for ye Melting of ye old Moneys into Ingotts We are humbly of Opinion that a penny ꝑ Lwt. Tory is a reasonable allowance for ye same it being ye usual price which Merchants pay ye Goldsmiths for Melting their silver into Ingotts in London. But this Allowance cannot be paide out of ye Bullion belonging to ye Mint because this Melting is no part of ye Coinage. Gold & Silver {illeg}|o|ught to be in ye Ingott when Imported into ye Mint, & if it be not in ye Ingott the Owner causes it to be Melted into Ingotts by whome he pleaseth & at his owne charge & bears ye Loss by Waste.

And this must be done before ye Master of ye Mint can receive it from him by Weight & Assay upon his Note in Order to Coine it, & therefore is allways done at ye Owners charge, according to this methodye Importer did bear ye whole Loss by this melting in ye late Coynage of ye hammered Money in England, & the same should be now born by ye Importers in Scotland & placed among ye Losses mencond in ye Act of Vnion in these words It is agreed that in ye first place out of ye aforesd. sum (that is out of ye Equivalent) what Consideracon shall be foudn necessary to be had for any Losses wch. private persons may susteine by Reduceing ye Coine of Scotland to the standard & value of ye Coine of England may be made good By Her Majtes most Honble. Privy Councill of Scotland haveing appointed this melting of ye old Money into Ingots. We humbly offer to your Lordsps Consideracon whither it may not be propper for theire Lordsps if they think fitt to apointe also ye Recompence for ꝑforming this Melting

All wch is most humbly submitted


I Stanley

Is Newton

Ino Ellis

[1] Mint office Feb: 11th: 1707

© 2020 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