'A Proposal Humbly offered to the Commons of Great Britain in Parliament assembled'

Author: Isaac Newton

Source: MINT 19/2/402, National Archives, Kew, Richmond, Surrey, UK

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- Revision History
  - 1 January 2001
    - Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young
  - 29 September 2011
    - Catalogue exported to teiHeader by Michael Hawkins
  - 14 March 2017
    - Transcribed by Will Scott
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<402r>

A
Proposal
Humbly offered to the Commons of Great Britain in Parliament assembled.

Farthings & halfpence being very scarce, insomuch that publick houses are forced to use Tickets: and at having been thought necessary to coin one hundred Tons of Copper per annum for ten years, for supplying great-Britain, Ireland & the Plantations; several Proposals have been made for doing thereof, all which have been calculated for private advantage only, without any regard to the Publick.

It is humbly proposed to coin the said Quantity, in the manner & on the terms following; in case his Majesty will be pleased to give the Benefit of the Coinage to the Publick, viz^t

The farthings & halfpence to be made of fine Malleable copper, with a neat fair impression, to be approved by such person or persons as his Majestys shall appoint.

Each pound of Copper to be cut into two shillings: One fourth part when coyned, to be allowed to the Publick, which will amount to five thousand six hundred pounds per annum & amounts in the whole to fifty six thousand pounds.

The Proposer will allow the Officers of His Majestys Mint two-pence halfpenny for cutting stamping & blanching each pound of Copper. In case they refuse the same the Proposer humbly desires the use of the Irish Mint & will be obliged to leave the Presses & Vtensils in as good Order as they now are, without putting his Majesty to any expence

If any Objections arise the Proposer desires an Opportunity to answer them, which he doubts not but to do to the satisfaction of this Honourable House.

<402v>

Considerations upon the foregoing Proposal

1. Several Proposals have been made for coyning copper money by Patents without accounting for the profit all which have been calculated for private advantage. And the Officers of the Mint have constantly given their opinion against them & represented that the coynage should be upon Account.

2. It never was thought necessary to coyn 100 Ton per annum for ten years unless by those who designed to make a private advantage thereby. Such a coynage in three or four years would make a great clamour. In the last coynage of copper money six hundred Tons were found sufficient for all England & began to make a clamour, & the Proposer doth not offer to be at the charge of sending any into Ireland & the West Indies.

3 If it be right to cut a pound weight into two shillings & gives six pence thereof to the publick, its better to cut a pound weight into 2^s 6^d or 3^s & give one shillings or eighteen pence thereof to the Publick. On the contrary the Commons in the year 1694 addressed King William that the Copper money should be coyned to the intrinsic value (including the charge of coynage) & the Officers of the Mint have upon all occasions given their opinion to the same purpose that the temptation to counterfeit the money might be as little as possible.

4 The Proposer submits himself to no cheque or Account whereby it may appear how well the money is coyned in point of weight & assay & how much is coyned & what profit he makes of the coynage: but on the contrary endeavours to engross the whole coynage into his own hands & by consequence to have it in his own power to coin the money coarse & light for is own profit. Whereas he that provides & prepares the Copper for the Mint should import it by the assay of the Mint & at a certain rate by weight without having it in his power to make a profit by coyning it coarse & light & in greater quantity then he accounts for.