Letter to the Earl of Godolphin (Lord High Treasurer) concerning a proposal for recoining copper money

Author: Isaac Newton

Source: Ms. 361(2), f. 24r, New College Library, Oxford, UK

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To the R^tthe interval between the end of the first Messenian war & the sixt year of Xerxes. Hon^ble the Earl of Godolphin Lord High Treasurer of great Britain.

May it please your Lord^p
In obedience to yo^r Lord^ps order of the Reference of May 6^th (brought to us Iune 30^th) upon the annexed Proposal of M^r W^m Morgan & others \brought to us by the Proposer Iune 30^th/ for taking in the old copper money & coyning a thousand Tunns of better copper money in its stead in \within the term of/ seven years, provided the loss w^ch they may sustain by changing the old money for the new & the interest of forty thousand pounds dead stock may be allowed them over & above the price of the new metal & charges of coynage: We have considered the same & are humbly of the opinion that the loss w^ch the nation would \be/ sustein by melting down the old copper money & the interest of the dead stock would amount to above eighty thousand pounds & are an unnecessary charge, & that the coynage of a thousand Tunns would make a \very/ great clamour, six hundred Tunns being sufficient to stock the nation. And we further humbly represent that a \constant/ coynage of about eight or ten Tunns per an̄ may be sufficient to supply the yearly wast of the present copper money, that such a small coynage is safest but not yet wanting, that it may be above ten or twelve years before the coynage of an hundred Tunns shall be wanting & that a greater coinage will not be advisable untill there be a great & general complaint of the want of copper money.

All w^ch is most humbly submitted to your Lord^ps great wisdome

Letter to the Earl of Godolphin (Lord High Treasurer) concerning a proposal for recoining copper money

To the Rtthe interval between the end of the first Messenian war & the sixt year of Xerxes. Honble the Earl of Godolphin Lord High Treasurer of great Britain.

To the R^tthe interval between the end of the first Messenian war & the sixt year of Xerxes. Hon^ble the Earl of Godolphin Lord High Treasurer of great Britain.