487) with variant figures but to the same general effect

Author: Isaac Newton

Source: MINT 19/3/490, National Archives, Kew, Richmond, Surrey, UK

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  Correspondence relating to the tin trade [MINT 19/3/486-7]

<490r>

To the R^t Hon^ble the Lord High Treasurer of great Britain.

May it please yo^r Lord^p

In obedience to yo^r Lord^ps Order of Reference of the 9^th instant upon the annexed representation of the Gentleman owners of Tin lands in Cornwall to the Lord Warden of the Stannaries {illeg}|re|lating to a new contract for Tinn: we humbly represent that by the course of the sale of Tin this & the four last years there has been sold in Cornwall & London at a medium about 1560 tunns per an stannary weight, w^ch being deducted from 1600 Tunns received annually from Cornwall, & about\allowing/ 42|0| tunns more f{illeg}|or| Devonshire, there hath remained about 82|0| Tunns yearly unsold, so that 1520 tunns of Cornish Tinn & 40 Tunns of Devonshire Tin has been sold yearly, more or less; and if the same course of the sale continues, there will remain at the end of the present contract so much tinn unsold as at y^e rate of 3^li 16^s per C averdepois will {illeg} produce about 180000^li. And so long as the same course of sale continues, if six per cent (the interest of the moneys now advanced to the owners of Tinn-lands) be allowed upon the said dead stock of 180000 & the coinage duty & post groats be paid, & {illeg}|14|00^li allowed annually to her Ma^ty\been accounted sufficient/ \as sufficient/ to answer accidents & unforeseen charges, her Ma^ty may upon an equal con without losin{illeg}\without losing by the contract/ give 3. 9. 6 per C stan. weight for 1520 tunns of tinn the quantit{illeg}|y| annually consumed, as will appear by the following account.

1520 tunns of tinn at 3^li. 9^s. 6^d p^r stan. w^t	105640
Freight to London	2035.	14.	3
Salaries in London	1350
Incidents & Porters in London	200
Passing accounts	90
Salaries in Cornwall \|& 30 to Truro\|	1540
Incidents in Cornwal	6\|7\|00
Interest of 18000 at 6 p^r cent	10800
Total	1223{illeg}\|5\|9.	14.	3
Insurance & other accidens\|t\|s & unforeseen charges	145{illeg}\|11\|.	14.	0
Produced annually by sale of tin at 3^li 16^s p^r C st. w^t	123771.	8.	7

If it be supposed that the{illeg} consumption may carry annually 1600 or 1{7}|8|00 tunns stannary: it will appear by the like recconing upon sup {illeg}|t|hat supposition, that her Ma^ty may give 3^li 10^s in the first case & 3^li. 11^s in y^e second, & so in proportion for\to/ a greater or less consumptio But every 100 tunns purchased above what the consumption will carry off makes a dead stock annually increasing, the interest of w^ch at 6 p^r cent will in the end of se{illeg}|v|en years amount to about ten thousand pounds.