<420r>

To the Right Honourable Sidney Lord Godolphin. Lord Treasurer of England

May it please Your Lordship

In Obedience to your Lordships Order of Reference of the 16th. of Iune last past, upon the annext Proposal of Mr: Abel Slaney, for himself, & Partners, for a new Coynage of 700 Tuns of half pence & Farthings We do humbly acquaint your Lordship that We have enquir'd into all the Coynages of that sort, since the Year 1672. And do find that in the Reigns of King Charles the 2d, King Iames the 2d, & in the beginning of the Reign of the late King & Queen, the coinage of halfpence & farthings was performed by One, or more Commissioners, who had money imprested from the Exchequer to buy Copper, & Tin, and coin'd at 20d per pound Haverdupois And accounted upon Oath to the Government for the Produce thereof.

That upon calling in the Tin Farthings, & halfpence, (by reason of the Complaints made against them) there was a Patent granted to the Proposer & others, who contracted to change the Tin Farthings, & halfpence, and to enable them to bear that charge, they were allow'd to Coin 700 Tuns at 21d per pound weight, without being accountable to the Government Which reason now ceasing, We are humbly of opinion, that the former Method, by Commission is most advantagious to the Government.

We do not hear there is any demand of farthings, & halfpence at present, & though 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 that the Coinage of Halfpence & Farthings in this Kingdom should be to the intri{ns}ick value, (the charges of the Coinage & Incidents deducted) but if that be not {thou}ght advisable at present for fear of stopping the Currency of those that are already abroad, We humbly conceive that whenever a new Coinage shall be thought convenient, it should be done in small Quantities, as her Majestie from time to time shall appoint, to supply the decrease, & loss of those already coin'd, without danger of new Complaints by overstocking the Nation.

All which is most humbly submitted to your Lordships

great Wisdom.

[1]

Is. Newton

In. Ellis.

<421v>

Report of the Officers of the Mint, upon the proposal of Mr Abel Slaney for Coining Copper halfpence and Farthings.

Entred in the {illeg} book

[1] Mint-Office the 1st of Iuly 1703

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