Memorandum concerning Scottish poundage

Author: Isaac Newton

Source: MINT 19/3/17, National Archives, Kew, Richmond, Surrey, UK

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<17r>

To the most Honourable the Earl of Godolphin Lord High Treasurer of great Britain.

May it please your Lordship

According to your Lordships verbal Order I humbly lay before your Lordship the state of the Question about the allowance to be made in the accounts of M^r Allardes for the late coinage of silver moneys at Edinburgh

By the Indenture of the Mint in the Tower the Master & Worker is allowed sixteen pence half penny upon the pound weight Troy for the coinage of silver moneys. The words of the Indenture are hereunto annexed

By her Majesties Warrant of 20 Iune 1707 for putting the Act of Vnion in execution, the Officers of her Majesties Mint at Edinburgh were directed to observe the rules of coinage set down in the said Indenture with respect to their several offices: But I do not remember that any alteration in the allowance for coinage or in the salaries was then under consideration. The words of the Warrant are hereunto annexed.

By an Act of Parliament made in Scotland A.C. 1690 the Master of that Mint was allowed twenty pounds Scots upon the stone weight Scots for coinage of silver moneys, & this allowance was in use till the union. The words of the Act are hereunto annexed. Three pounds Scots are worth four shillings sixpence half penny English at their just value. But the nation of Scotland valued thirteen shillings Scots at twelve pence English before the union while the said Act of Parliament was in force, & at thirteen pence English in distributing the Equivalent. The allowance for coynage comes in the first case to almost seventeen pence half penny upon the pound weight Troy, in the second to something more then seventeen pence half penny, in {the} third to something more then nineteen pence, There hath been coined 104227^{lw^t}. 10^oz. Troy, & the whole allowance ☉ < insertion from lower down f 17r > ☉ for the coinage thereof comes in the first case to 7533. 13. 2 in the second to 7655. 18. 10, in the third to 8293. 18. 9, & by the Indenture of the Mint it comes only to 7165. 12. 3. And for paying all the accounts relating to that coinage, there is in the funds a deficiency of about two or three thousand pounds.

< text from higher up f 17r resumes > < insertion from f 17v >

< text from f 17r resumes >

The question is, what shall be allowed in the Accounts of M^r Allardes upon the pound weight Troy for the late coinage of silver moneys.

Which is most humbly submitted {to} your

Lordships great wisdome

Mint Office
14 Feb. 1709.

Is. Newton