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

To the R^tReverent Honourable the Earl of Godolphin Lord High Treasurer of great Britain.

May it please your Lordship
In obedience to your Lordships order of the Reference of May 6^th upon the annexed Proposal of M^r William 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 within the term of seven years, provided the loss which 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 which 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 annum 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 which is most humbly submitted to your Lordships great wisdome