State of the Mint when the grand Coynage began in 1696 Hopton Haynes c. 4,020 words The Newton Project Oxford 2017 Newton Project, University of Oxford

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 c. 1700, c. 4,020 words. Lansdowne MS 801, ff. 69r-78v, British Library, London, UK UKLondonBritish Library Lansdowne Mss Lansdowne MS 801, ff. 69r-78v c. 1700 England English Holograph Unknown Hand (1) Mint Personnel and Administration Will Scott began tagged transcription Will Scott finished transcription Some checks & corrections made by Will Scott Dating amended by Will Scott
133.69 State of the Mint when the grand Coynage began in 1696.

The place of Master and Worker in the Mint had always been a station of great trust, for his office makes him a kind of Treasurer for the King, and the subject too, from both which he receives, and to whome respectively he is accountable for all silver and gold imported: and for this reason he ought to be a person of unexceptionable character and circumstances. Thomas Neale Esqre. a Gentleman well known to the world, was in possession of this trust at the begining of the late grand Coynage: and his thoughts beeing engaged in projecting ways and means for the Publick and himself; and it being likely that he would be, as he afterwards was for some months charg'd by Indentures with the King, with 6 or 7 hundred thousand pounds sterling, and for a time with above one million; these considerations made it necessary to appoint him a sufficient and well qualifyed assistant.

The Gentleman pitcht upon by the The Treasury for this service was Thomas Hall Esqre. now one of the Comiss.rsComissioners of her Majesties Customs, who had acted as Kings chief Clerk for many years in the Mint. By the Kings Warrant dated the 26 February 1695 he had full power to inspect all the offices and officers Books and Accounts and to doe whatever he–134. he might think proper in that service.

Iust before the coynage began Mr. Neale employ'd one Mr. IJohn Fauquier to receive and issue all the silver and gold Cash at the Mint; who during the Recoynage gave good proofs of his diligence, for he received all the Ingots proceeding from the clip'td and hammer'd monys, and from plate and Bullion: and about two Millions of hammerd monys in specie, and he issued all the new monys paid out at the Mint which amounted to about 5 Millions sterlgsterling.

Besides this Gentleman there were but 3 supernumaries employ'd in the accompting office vizt. a Coppying Clerk and one Mr. IJohn Parsons, the most accurate accomptant in the Kingdom; and a 3d. who was employd to instruct the officers and Clerks who acted in the 5 Country Mints, and to supervise all the accompts and books of the 6 Mints. So that there was the greatest frugallity at the Mint in carrying on this important work that could be contrived,. for the yearly allowance for all the settled sallarys and Incidents in the Mint is no more than 3000£. by the Coynage Act; and the King was at no further expence on this occasion in any extraordinary sallarys in the Accompting office, than 600L. pr. an. payd Mr. Hall for himself and two Clerkss 2 years. all the other additionall salarys were advanc'd out of Mr Neals135.70 Neal's poundage for coyning by a speciall warrant of the Treasury dated 18th. March 16956 requiring him to pay dureing the Recoynage the following allowances

To the{Comptroler . . .300L.}with such further allowances as their Lordships should think reasonable, to be paid out of his proffits. And he paid 'em quarterly till MichlmassMichaelmass 1697 Assay master . .220 Surveyors of the meltings} –100 {Weigher & Teller .100 To 6 Clerks 30L each .180 £.900''. p an Thus the Accompting office was established at and soon after the begining of the Grand Coynage but the Mechanicall offices of the Mint, as the Melting House, and Mill and press rooms were out of repair, and too scanty for the businesse that was very great and required the utmost dispatch. The Lords of the Treasury, whho had before directed one Mr. Packer to provide a Melting roome and other conveniencies at the Exchequer for telling and melting down the clipd monys into Ingots, and for assaying the Ingots that proceeded there from, the charge wereof amounted to 719L. 1s. 1d:34. They came afterwards so the Tower, and viewed the severall offices and work-houses in the Mint, and finding 'em not sufficient136. sufficient for the service, directed a new melting house and Mill Room to be erected, in a place called the Irish Mint, and other convenienctys repaird,s, and additions to be made in the old workhouses, the care and oversight whereof was chiefly left to Mr. Hall. At the begining we ehad no more than one Furnace in the silver Melting house; and 2 new one's were set up in the same melting house enlarg'd, and 2 more in a new melting house in the Irish Mint. In the Monnyers Quarter, there were only 2 Mills which were afterwards increased to ten. And more presses were provided in a convenient number, so that wee had 1 for the coyning of Crown pieces, 2 for 12 Crowns, and 6 for shillings and six pences, besides others in an adjoyning roome for Copper Coins which ere us'd sometimes for dispatch of the silver. Whilst these necessary preparations were making in the Mint, the Workmen and Artificers emply'd therein were in great streights for mony to answer their necessary occasions, & satisfie their Creditors who had trusted 'em with all sorts of materialls to a good value, and began to press for mony: this was a shardship upon both, which the officers knew not how to remedy; for the Government at this time wanted it as much as any privat subject. The Officers, that no stop might be putt to the work, which would have137.71 have prov'd of very ill Consequence to the whole Kingdom, promis'd the workmen to take care of 'em, and gett 'em a supply and encourag'd 'em to dispatch their work, the new buildings, and necessary Reparations; which they did, thôough not without great Complaints of their want of mony & creditt too. When the Coynage began, wee lookd forward, and saw a vast sum of the whole silver running Cash of England coming from all parts of the Nation, in every branch of ye.the Kings revenue and draining the Country of stheir stock in trade and Exchange, which made the people very uneasy, and the Government too: the old clip'd mony in Ingots flow'd into the Mint from the Exchequer by 2 or 3 hundred thousand pounds per warrant, where it must have continued a long time uncoyn'd; and the people and ye.the Government must have been at a stand in all publick and privat business, unlesse wee could coyn with greater speed, than wee ever had don, or believ'd wee could doe. About 15000£ in one week was formerly the greatest summ remembred to be coynd in that time: and when 30 or 40 thousand pounds was first mentioned by ye.the Lords of the Treasury as the least summ wee must propose to coyn weekly, it was look'd upon as a thing impossible, even orby some officers in the Mint. But138. But the publick necessitys and the pressing & repeated orders of the Lords of the Treasury inspired us all with an extraordinary zeal and diligence. And the number of our Mills and presses w.thwith other necessarys being increasd, in a few weeks wee found it no hard task to coyn 50000L. in 6 days time, and by the begining of May the Mint was in so good a posture that the Lords of the Treasury thought fitt on ye.the 12 to order the Monnyers to employ more hands in their part of the coynage, and that the Melter should cast so much silver into barrs as would produce 65000L. a week in new monys; and that nothing might be wanting for the dispatch of business, they further directed more working tools us'd in the coyning, should be immediatly provided. All which was don accordingly.. And besides The melter encreased the number of his servants and labourers to about 70. And the Monnyers theirs to above 200. Whereupon the Coynage advanc'd in a short time to between 80 and 100 thousand pounds a week. From the distances in time between every single motion of the Flyes at the severall presses Mr. Newton made a Computation of the quantity that might be coyn'd in a day, and he found that each press might coyn in a minute between 50 and 55 pieces. When the motion was not139.72 not interrupted by settling or exchanging the Dyes or other accidents which usually took up neer 12 the time, and Consequently the Crown press might coyn in one day between 6 and 7000L. Sterling; The half crown presse above 3000L. The shilling press above 1200L. and the 6 penny Press above 600L. And the like observation was made of the Mills and working Engines whereby he could judge of the workmens diligence and compute what summs the presses might coin weekly. For TWhereeby it appeard, that allowing for all accidents and hindrance, and supposing 8 hours in a day were spent in the work without intermission, the 9 Presses would coyn as follows 1. The Crown Presses. 6000L+ 2.Half a=Crown Presses 6000+ 3.Shilling Presses . . 3600+ 4 3 Six penny Presses 1800+ which is 17400£. in one day; and as a greater sum̄mm was coynd when one or two of the shilling Presses were sett to coyn 12 Crowns; and yethe sixpenceny-Presses employd in coyning shillings, which was often done. Our Method in the begining in short was this, The officers and offices and Conveniencys being settled as before; The Exchequer furnished our Essay office with a Constant supply of Ingots, so that the140. the Assay Master had a constant stock for some months of about 300 Ingots in his office at one time. He for his part took care to gett ready in the morning, and afternoon, between 80 and 100 Ingotts assay'd, except on such days as scissel hapned to be a great part of the melting of the day, one of the Masters Clerks was wholy employd in setting out those Ingotts in a convenient number for the melting potts which generally held between 9800 and 10900£wt. Troy, of silver, He pick'd and sorted the Ingotts as is usuall by the quantity of fineness and coarseness in the rateings of each of them. Two or 3 Potts of between 87 or& 9800 weight each were constantly deliver'd to the melter at night, to be melted early the next morning; when four or 5 and sometimes more were deliverd to compleat the charge of that day, which usually amounted in Ingotts and Scissel to between 89 or 109000.Lwt every day, and sometimes to more in the height of the coynage. Such a melting produced, in clean barrs fitt for the Mill, neer the same weight; unless a pott hapned to run, or the Mettall was overheated: about 4500.Lwt of those barrs were cutt into blanecs for the severall species of our Coin: which being annealed, flattned, assiz'd, blanch'd, and stampt at the Presses by the Monneyers produc'd in mony passable by ye.the Indenture of the Mint, about 13500L per diem: and a larger melting produced141.73 produced a greater summ in the like proportion. To prevent any mistakes in the Assays, which were made in hast, whilst the silver came so fast upon the Mint Assay master from the Exchequer, and from privat Importers; the Lords of the Treasury had directed by a Letter dated 6.th March –956 that when Assays in the Mint differd from Assays made at the Exchequer 2d.wt in any Ingots, that they should be reassay'd by the King's assaymaster at the Mint before one MMr. Bowless who made the first Assay at the Exchequer. This direction of the Lords was highly necessary in a crowd of business, dayly increasing upon our hands; for an errour of 2 or 3d.wt in the Assay amounts upon an Ingot of 74Lwt; s most of the Ingots weighed, to between 40 & 550s. sterling. Yet notwithstanding the great hurry in the business, The Assay Master at the Mint took such care that no mistake happen'd. Besides the care taken by the Lords of the Treasury to putt the Mint in a readinesse, and to hasten and encrease the weekly coynage, they took further care to make the Expences of receoivnirsng as might be. On the 18th. March their Lordships signed a warrant to allow the Melter of the Mint 3.q pr.per Lwt.pound weight for his melting, and 12d pr.per L.wtpound weight for refineing to 15sd.12Lwt. better than standard, any of142. of the coarsest silver necessary to be refined, to reduce it self and the rest to standard. And on the 21 of the same month an Agreement was concluded between their Lordships and the said Melter to pay him 2d12. upfonr the wast upon every L.wt he being obliged to make it good if it exceeded that rate, and to be accomptable for the sweep of his melting to their Lordships. And a person was appointed by their Lordships to oversee the making up of his sweep. On the 18 March their Lordships signed another warrant for payeing the following Rates on the £.wt standard for the coynage vizt. To{the Master and Worker.3d.1q.}pr.per Lwt. standard. the Monyers . . .99 the Engineer. . .1.2 the Smith . . . .0.1. Which Allowances for making the mony amounts to 14d. for paying whereof Provision was made✱✱ In ye.the Act for remedg.remedying ye.the ill state of ye.the Coin. they being the usuall rates to the Respective partys for their Expence and workmanship in the Coynage: but the Lords took care at the same time to order the Master and Worker to pay severall additionall sallarys out of his proffitts which were like and after proved to be very considerable in so great a Coynage. The sallarys they appointed and other he actually paid at the Tower amounted to143.74 to about 1500L pr.per an.annum besides what he allowd his severall Deputys and some Clerks at the 5 Country Mints, which in the 2 years of their Continuance cost him with other Contingencys not less than 3000L. more. The aforesaid Act for remedying the ill state of the Coin, did likewise allow the deduction of the charge of the 1st melting and refineing out of the new monys that wshould proceed from the clyip'd mony of the severall branches of the revenue recoyn'd by the Act. Accordingly the Expences of telling the said clyip'd monys of the 1st. melting, assaying and other Incidents at the Exchequer were order'd from time to time by speciall Warrants of the Lords of the Treasury, to be satisfyed out of the new monys arriseing from the particular branches in proportion to the whole tale of each branch. But the charges of recoyning at the Mint, were paid by another proportion, vizt the charge of 2d.yethe second melting of the Ingotts and allay, and the scissell in the proportion they held to the standard of the severall branches contained in the 12 Remains, hereafter mentioned in a Table. 2d 12 pr. Lwtpound weight for wast in melting was also proportiond in the like manner. The 14d. for coynage, and the Mint Incidents as they hapned to arise were adjusted likewise and paid by the standard of the particular branches respectively. But the charge of Refining, which by an agreemt.agreement the144. the Lords of the Treasury had made with the Melter was not to exceed 12d. for every Lwt.pound weight of coarse silver refind to 15dwt.12 better than standard was computed in a way different from all the other Expences. Our method was this, when a sufficient sum in new monys was coynd to cleer the standards of all particular branches containd in any one of the 12 Remains, the coarsest Ingotts of every individuall branch were singled out, and such a proportion of those Ingotts allowed for Refining, as would, when reduced to 15dwt12 better than standard not only reduce its own coursenesse but all ye.the remaining worsenesse of the said parcell to the standard value of 222d.wt In a few days after the Resolution of the house on ye.the 10th. December 1695 was made publick vizt to recoyn all the clipd mony according to the establish'd standard at the Mint both as to weight and fineness, silver Bullion w.chwhich in the begining of that month was sold at 6s. 6d. pr.per oz was in IJanuary brought to the Mint to be coynd at 5s. 2d. q by Mr. Hankey, Mr Grammar & other Goldsmiths & privat Importers. This lookd like a Paradox to the Gentlemen who at that time us'd their uttmost endeavours to lighten the coins, or raise their demonimations. They did not expect the Goldsmiths would be the first who should bring silver to the Mint to be coynd, who could not be supposed not to know their true Interest, and the reall value of silver in Bullion; and they being the first Importers received accordingly145.75 accordingly the first new milld monys out of the Mint to the value of 7470£s on yethe 8th Febry. 956 & 5553.£s more on yethe 15th following. On the 22 IJanuary 1695 the Lords of the Treasury took an Account of all the clip'd monys then remaining in the Excheqr.Exchequer upon the severall branches of the Revenue according to their respective summs; which they caus'd to be melted down into Ingotts of about 74L.wt each: and to be all mark'd with the Letters of the Alphabet to distinguish 'em according to the severall aids and Branches from which they did proceed. Those Ingotts were assay'd likewise at the Exchequer, after which they did proceed were sent to the Mint with severall Indentures between the King and Mr. Neale the Master-Worker, expressing the number, weight and Assay of the Ingots and the respective Dutys whereunto they did belong. Those Ingotts were receiv'd at the Mint into the Assay-office, and being assay'd were enterd into the MintBooks under the Title of their respective Funds (in the same manner as the Ingotts of privat Importers stoodand enterd under their Names) with their Numbers, Assays, weights, worsnesses & standards respectively. And then sett out in convenient parcells for melting in order to coynage, according to the ordinary and received practice and method of the Mint: for wee had nothing new in the manner of our Accompts, but the computation of the coarse silver necessary to be refind to 15.dwt 12 better, to reduce146. reduce the silver of every fund to the standard, and a small variation in the method of our Payments. The Care of which work was part of the business of two supernumeraries. Mr Hall presented the Lords of the Treasury a Certifficate weekly of the whole Coynage, together with an Accomupt of so much as had been coynd from the begining in clypdtpd mony, Plate or Bullion: By this Acct.Account their Lordships allways know what was done at the Mint every week, and how the Silver Cash increased; and thereupon could give the necessary orders and directions. Bullion continued to be imported by private Importers, and Plate too after ye.the 4.th May 1696 'til the 4.th November following; what Addition they made to the publick stock of our silver monys together with the clip'd mony recoyn'd will appear by the following Account. A Gen.llGenerall Account Of the Clipt Silver Monys found Remaining in the Receipt of the Exchequer by the RhtRight HonbleHonourable the Lds.Lords Commissrs.Commissioners of the Treasury & by their Order told out there and molten down into Ingotts, which were sent thence to the Tower, & Recoyn'd into New Milld Monys, pursuant to yethe first Act for Remedying the Ill State of the Coin &c Number of Warrants or Remains Date of Warrants Tale of the Clipt Mony in each Wart.Warrant Weight of Clipt Mony delivered to Melt at the Exchequer Numbr.Number of the Ingotts – Weight of the Ingotts – Standard Weight at the Mint ~ Whole Tale in New Milld Mony. Weight of Cause Silver refined Refining Charge at 12d pr.per £wt. Weight Molten in Ingotts & Scissell Melting charge at 3v pr.per £wt. Wast at 2d12 pr.per £wt. Coynage at 14d pr.per £wt Incidents at yethe Exchequr.Exchequer Incidents at yethe Mint Whole Charges– Clear Tale pd.pound into yethe Exchequr.Exchequer 1695 £sd £wts~ozs.dwts £wtsozs.dwts. £wtsozs.dwtsgrs. £sd £wts~ £sd £wtsozs.dwts £sd £sd £sd £sd £sd £sd £sd 1 14 Febry. 348,49956 60,0581110 871 59,89925 59,36511919 185,120100114 6,908 34580 118,67100 370161114 61876 24630324 15086434 1271411 643314014 178,47279 2 21 Mar. 179,81800 29,984310 412 29,905615 29,524111800 –92081106 4789.1 23991 59,018110 1848924 307110 172251024 ........... 34173 2488120 89,51121 3 9 April 502,68700 84,367105 1142 84,165115 82521111204 251,16116 18,341 91710 1649611112 515101 859121 481315814 1037126 105116 8249210 248,69142 4 4 May 15585700 24,97077 348 24,8991115 24,25421117 –75,659116 618 335180 48,50854 151118 2521210 1414166 ........ 3020 218510 73,42236 5 15 May 13926300 23,49620 333 23,429510 23,0148223 –71,59200 4169 23890 46,02882 1431610 239149 1342105 ........ 27119 199220 69,53806 6 20 May –97,21300 17,09470 245 17,05435 16,7319619 –5202151 3625 18150 33,463612 104115 15459 97604 856147 21176 2314147 49,668106 7 25 May –59,85800 10,9031110 160 10,874115 1069391114 –23,295176 2128 10680 21,38777 .6616814 111710 62316134 ........ 12180 .92169 32,3441010 8 3 Iune 20266300 36,39650 502 36,2811110 35,63910819 111,006163 7426 37160 71,279816 222150 37150 20781910 81643 4259 39021510 106,9941901 9 13 Iuly 1,005,25300 17759420 2358 177,07980 1743,323372 542,439158 32,281 161410 348,646614 108910434 101517424 10,16817214 2625142 212120 175261201 524,5801901 10 5 Augst. 657,34100 11472900 1519 114,434515 112,769023 351,04736 19,219 960190 225,538010 70416124 117413624 6578310 74742 127154 10,2931200 340,595186 11 28 Augst. 54706900 92,252115 1223 92,02470 90,52941020 282,03390 171 848110 181,05890 565162 94303 5280177 .......... 101110 77391600 274,2161000 12 24 Octobr. 790,708112 132,250100 1769 131,837310 129,5505923 403,606190 25588.8oz. 127988 259,100100 80913934 13499814 75571114 254936 151146 13,696124 389,67852 Review 20 Octobr. ––9073196 ––1613110 ––45 ––160990 ––15887719 ––494780 265.8oz ––1358 ––3176910 ––918724 ..... ... ...}–20 4 3@4{ ..... ... .. ––9213515 .......... ......... –13287 ––4814195 Sweep .... ............. ........... –––6 –––329710 –––352204 ––1097100 ..... ........ –––703210 ––231124 ––201010 –5991001 ..019 –62601 –––471118 Try'd Pix 10 Iuly.96 ............. ............. .... ............... .................. ............ .... .......... ......... ......... ......... ......... ......... ............ ............ ––80920 Pix Try'd 18 Iuly.97 ............. ............. .... ............... .................. ............ .... .......... ......... ......... ......... ......... ......... ............ ............ ––79920 Totals 4,695,303162 805,71387 10,933 805,825015 790,86001198 2,463,11017714 149,029.5oz 745195 1,581,544017 494266 8238101012 46,133102 10,7409734 996126 78502100114 2,384,60876 place ys.this between 146 & 14776 Account of the Clipt Mony Melted down at the Excheqr.Exchequer, and recoynd into Milld Mony at the Tower, pursuant to the 1st act for remeding the Ill state of the Coine 14778 A Generall Accompt of the new milld monys coyn'd at the 6 Mints pursuant to ye.the 1.st Act of Parliamt.Parliament for Remedying the ill state of the Coin, & for encouraging ye.the bringing Plate to ye.the Mint to be coyned.~ New monys in Tale.}Total at each Mint at London{In Bullion... LL.s.–dL.s.d. Clipt mony.£2463,110:17:07 Plate. . . at Bristol{In Bullionsand thither}£s.03102:05:00} Clipt mony £.s.41101:15:07. Plate }£.s.07743:03:03L. 52379.13.01. In Bullion recd.received use £..432:9.3 . at Chester{In Bullion... £v.01557:00.6.} Clipt mony.£20,014.06.06£ 2,364:16.00 Plate. . £00793:9,00 at Exeter{In Bullion. L.v03095:02.00} Clipt mony L.46996.07:00£ 60749:09:06. Plate. . £v10658.00.06 at Norwich{In Bullion. L v01558:02.06.} Clipt mony.L.40721.02.04£ 48145:10.10 Plate. . L.L.05866.06:00. at York{In Bullion L .03106:11:00} Clipd mony L..54822.0102£ 67404.12.04 Plate L..09476.00.02 Bullion L.sdClipt mony.Plate {Bristoll.{Bullion sent down{3102.05.00}{41101:15.07}{7743.03.03} Chester.1557.00.0620014.06.06..793.09.00 Exeter.3095.020046996.07.0010658.00.06. Norwich.155802.06470721.02.04...586606.00 York310611.0054822.012.94760902 Tot.lTotal{£12,419.01.00.L.203655.12.7.£.34536:18.11 Bullion recd.receivedatBristl.Bristoll..432.9.3 £.12851.1003.£.2463110.17.7.Tower of London L.2666,766.10.2.Total. 148 Whilst these summs were coyning the Nation labourd under great difficultys for want of silver monys: as I have before hinted, and thôough the new milld mony coyn'd at the Tower from IJanuary 1695 to Ianuary 1696 amounted to two millions five hundred and eleven thousand eight hundred fifty three pounds, 3s. 6d. besides above two hundred thousand pounds more coynd at the five Country Mints of which I shall give give an Account hereafter: yet but little of this great summ appear'd in payments. The great endeavours that had been used in the last session, to raise the Denominations of the mill'd & weighty hammer'd mony, putt many people in hopes of som advantage by their new coyn'd monys, who thereupon laid by what they could spare till the next session of Parliament; The proceedings whereof relating to the coin are abstracted as follows.