334-5) with minor variations

Author: Isaac Newton

Source: MINT 19/1/340, National Archives, Kew, Richmond, Surrey, UK

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  - 1 January 2001
    - Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young
  - 29 September 2011
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Related Texts
- This document is a version of:
  Memorandum by Newton specifying the uses to which the money allocated to the Mint by Parliament can be put, breaking it down into specific sums for specific purposes, and stating which Mint officers are responsible for allocating which funds [MINT 19/1/334-5]

<340r>

18 Carol. II, Chap. v. No moneys leviable & payable by this Act shall be converted to any other use or uses whatsoever other then to the defraying th{illeg}|e| charge or expence of the Mint or Mints, and [that] of the assaying melting down & coyning wast & coynage of gold & silver & the encouragement of bringing in of gold & silver to be coyned into the said Mint or Mints there to be coyned &c [{illeg} The first I take to be the charge of supporting a standing Mint, the second to be the firs|ur|t|her| charge of carrying on the coynage in that Mint. And by the next clause of the Act the first is limited to 3000^li for preventing extravagance, the other left unlimited & appropriated for to the coinage for encouraging the same. The words are] And it is hereby further enacted That there shall not be issued out of the Exchequer of the said moneys, in any one year for the fees & salaries of y^e Mint or Mints & towards the providing maintaining & repairing of the houses Offices & Buildings & other [standing] necessaries for assaying melting down & coyning, above the summ of three thousand pounds sterling money, & the overplus of the said moneys so kept as aforesaid shall be imployed for & towards the [contingent] expence wast & charg{illeg}|e| of assaying melting down & coynage & buying in of gold & silver to coyn & not otherwise. [Here by other necessaries I understand \things necessary for constituting a standing Mint as/ a convenient Hearth Chimne{s}|y| & closet the Assay Office, & \locks to the doors/ Gates to y^e Mint &c |These & the buildings come into y^e Wardens Acc^t|

The salaries from the time of making this Act have amounted to {illeg}|2|600^li & sometimes above & there have remained only 400^li per an for the buildings & other necessaries. And the buildings alone have usually am{illeg}|o|unted to two or three hundred & sometimes almost 400^li per an

In the 4^th & 5^t year of her Maj^ty another Act passed for enlarging the sum of 3000^li to that of 3500^li per an without making any other alteration in y^e former Act. And thereupon the Moneyers were allowed a salary of 400^l & the salarys {illeg}|of| the Clerks were intended to be augmented: but several buildings being ready to {drop} drop, there it was thought fit to rebuild them first. And these have cost about 8 or 9 hundred pounds or above. Two years ago the Engineers shop was rebuilt & cost about 3{9}|5|9^li whereof about 183^li comes into y^e Account of y^e year 1712 & 176^li is reserved for the last year.

In the Indenture of the Mint there is a clause that y^e charges of making the bullion agreea{illeg}|b|le to standard shall be born & sustained out of the Revenue arising to her Ma^ty by vertue of the coynage Act: w^ch clause would have been needless had that charge been recconned w^thin the 3000^li. This clause is a Voucher to the M^r for the charges of Assaying & Allay, The Act of 18 Carol. II is a Voucher to him for the charges of the Assay Office, & the standing practise {illeg}|o|f placing the charge of fu{illeg}|r|naces in his Acc^t is a voucher for that Article. No part of y^e 3000^li should come into the Master's Account except the salaries pa{illeg}|y|able to himself & those under him.