Draft of <ref target="/catalogue/record/MINT00152">MINT00152</ref> (Mint 19/3/2-3) Isaac Newton c. 1,255 words The Newton Project Oxford 2017 Newton Project, University of Oxford

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 1697, c. 1,255 words. 'An Account of the Scotch money' [MINT 19/3/2-3] MINT 19/3/114-15, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/3/114-15 1697 England English Holograph MintPyx Trials and Analyses of British Coinage Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young Catalogue exported to teiHeader by Michael Hawkins Transcribed by Will Scott, with some retrofitting of normalized MINT00153
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The Scots in the reign of the three or four last Kings ever since a treaty between them & yethe English made in order to an union in yethe reign of K.King IJames I have made in order to an union between yethe two nations, have have coyned their silver moneys of yethe same allaystandard wthwith the English vizt 11 ounces 2 penny weight fine & eighteen penny weight allay. For wchwhich end they have indented trial pieces made here of the same plate with those made for yethe English Mint. The standard Troy weights by wchwhich they coyn are also made at orour mint at yethe same time wthwith orsours by common consent of both Mints, & orour pPound Troy is greater then theirs by four penny weight & nine grains. And as we divide our ounce Troy into 62 pence so they divide their ounce Troy into sixty two shillings (for their shillings answer to orour pence) excepting that they now make in consideration of yethe charge of coynage & to prevent the melting down of their moneys make it their moneythey formerlythey formerly made their money lighter by 4 or 5 per cent & now make itthey make their money lighter by four shillings in sixty (as I am informed): so that sixty shillings of their money aisre to their ounce Troy as 56 to 62 or 28 to 31 & by consequence ought to weigh 425gr or 17dwt 17gr of our pound Troy (as I find by experience they do) & to be worth 54 english pence & 910th parts of a penny. The experiments we have made of yethe weight & fineness of their money are as follows

Date Pieces coyned Kings reign weight Fineness Value 1673 A two Mark piece Cha. II 175 worse vij 1s. 978 ✱ A mark piece Cha II 86 worse vij 0. 1034 1675 Another. Roetteiers. Cha II 102 worse ij 1. 1 1665 A hafhalf mark piece Cha II 42 worse iiij. ob 0. 514 1681 A three pound piece Cha II 416 worse iiij 4. 434 1682 Another Cha II 425 worse iij 4. 616 1691 Another W & M 425 stand.standard 4. 6910 1687 A forty shillings piece Iam. II 284 not assayd ✱. ✱ 1688 Another Iac. II 283 sta 3. 012 16889 Another W & M 284 sta 3. 023 1694 Another W. et M 284 sta 3. 023 1695 Another W. & M 284 sta santscant 3. 023 1695 Another Gul. 283 worse iij 3. 0 1696 Another Wil. 284 sta 3. 023 1696 Another Wil. 283 worse ij 3. 016 1695 A twenty shillings piece Gul 142 sta 1. 613 1695 Another Gul 142 sta 1. 613 1696 Another Wil. 142 sta scant 1. 623 Coyns Kings reign YearDate Weight Finenes Value A ten shillings piece ChaIam II 1687 71gr sta 0s. 9d16 Another Iam. II ✱ 71 sta 0. 916 Another Gul 1695 71 not assayd ✱. ✱ Another Gul. 1695 71 sta 0. 916 Another Gul. 1695 7168 sta 0. 834 A five shillings piece Gul. ✱ 35 wors 1dwt 0. 412 The two Mark the Mark & the half Mark pieces coyned before yethe year 1675 are bad work till the year 1675, & considerably coarser & lighter then Standard: for wchwhich reason they were called in neare the end of that reign & are no longer current. The The bulk of yethe Scotch money wchwhich now comes into England are sixty, forty, twenty, ten & five shilling-pieces coyned since are better money, &especially & make up yethe bulk of the money wchwhich now comes out of Scotland. tThose coyned in the reigns of K.King IJames & K.King William, wchwhich are very well sized. Most of their money here examined is standard, none too fine some too coarse so that one piece wthwith another it may be recconed above an half penny weight wors then standard. The Scots pay their shillings for englishour pence in yethe borders of England & putt off orour crown pieces for 665 shill & sometimes 66 of their shillings in Scotland (as I am told) which being an advantage of 8 or 10 per cent has made or money flow into Scotland & theirs into filled yethe borders of England with their money & Scotland with ours., & might be continued by And yethe carrying on of this trade prompted them to proportionably might have in time have prompted them to melting down orour money & carrying it to their mint. for carrying on this trade. The passing of our crowns for 66 shillings scotch is after yethe rate of 11 shillings for 10d or 10s for 9111, wchwhich considering that severalsome pieces of their money are jdwt ijdwt iijdwt & iiijdwt worse then standard so that our & some are light& all go, is about yethe just value, as you may perceive by the foregoing Table. But because all nations to keep out for discourage the importation of forreign money & secure themselves from loss by yethe receipt of it base or& worselight money amongst it, receive it not but at an undervalue it may be more reasonable rather to diminish then increase theis value of yethe Scotch money in England. Which may be conveniently done by recconning receiving their ten shillings pieces in England for nine pences their five shillings pieces for four pence-half pennys & their Mark & half Mark pieces (when ever they shall coyn any more of them) for shillings & sixpences. And so proportionally of their other standard money. For these are round & ready recconings &fit for use & approach yethe true value of their moneys, very nearly without any considerable abatement. wthwith yethe abatement of only 1 per cent, wchwhich is would & not be sufficie for yethe weare of yethe moneys. wchwhich is scarce sufficientfor securing or selves from loss by yethe cousrseness for orour security, from wchwhich is a very small one, considering that their money may be more easily counterfeited then ours & isgrows lighter dayly by wearing. 115 If the scotch money were all coyned of a just allay & weight 11s. 9d. of such money would be worth 10d34 of ours . But being found one piece wthwith another at least obwt or perhaps 1dwt wors then standard, 11s 6d of scotch is scarce worth only 10d12 english or perhaps 11s 3d scotch is worth 10d14 English But because all nations receive not to discourage yethe importation of forreign money & secure themselves from loss by the importation receipt of light & base money amongst it receive it not but at an undervalue therefore& accordingly yethe Scots receive orour Crown pieces only for twelve pence in Scotland only for 13 shillings of their money. ,And 'tis reasonable that we should undervalue their money as much & receive in England as they do ours in Scotland & accordingly wchwhich may be conveniently done by receiving their 10s pieces for 9 pences, their 5s pieces for 4 four pence halfpennies & their Mark & half mark pieces (whenever they shall coyn any more of them) for shillings & sixpences, & so proportionally of their other pieces of money. For these are round & ready recconnings fit for use & approach the true value of their money wthwith yethe abatement of onely 1 or 11513 per cent for orour security, wchwhich is a very very small one considering that their money may be more easily counterfeited then ours.