Introduction by W. A Shaw,
[Dorso.] THE CASE OF MR. ALLARDE'S REPORT (16 Feb. 1709/10).
| IS. NEWTON
Introduction by W. A Shaw, |
[Dorso.] THE CASE OF MR. ALLARDE'S REPORT (16 Feb. 1709/10).
|
To the Most Honble the Earl of Godolphin Lord High Treasurer ol Great Britain.
MAY IT PLEASE YOR LORDP.,—
In obedience to yor Lordp's. verbal Order I humbly
lay before your Lordp. the state of the question about
the allowance to be made in the Accounts of Mr.
Allardes for the late Coynage of Silver moneys at
Edinburgh.
By the Indenture of the Mint in the Tower the Master & Worker is allowed sixteen pence half-penny upon the pound weight Troy for the coinage of Silver moneys. The words of the Indenture are by her Majties Warrant of June 20th, 1707; for putting the Act of Union in Execution the Officers of her Majties Mint at Edinburgh were directed to observe the rules of coinage set down in the Indenture with respect to their several Offices. But I do not remember that any alteration in the allowance for coinage or in the salaries was then under consideration.
The words of the Warrant are hereunto annexed.
By an Act of Parliament made in Scotland, A. C. 1690, the Master of that Mint was allowed twenty pounds Scots upon the stone weight Scots for coinage of Silver moneys & this allowance was in use tW the Union.
The words of the Act are hereunto annexed.
Three pounds Scots are worth four shilling sixpence halfpenny English at their just value, but the nation of Scotland valued thirteen shilling Scots at twelve pence English before the Union while the said Act of Parliament was in force, as at thirteen pence English in distributing the Equivalent. The allowance for coinage comes in the first case to almost seventeen pence halfpenny, upon the pound weight Troy, in the second to something more then seventeen pence halfpence, in the third to something more then nineteen pence. There hath been coined 104227 dwt. 10 oz. Troy, & the whole allowance for the coinage thereof comes in the first case to 7533£, 13s. 2d., in the second to £765, 18s. 10d., in the third to £8293, 18s. 9d., & by the Indenture of the Mint it comes only to £7165, 12s. 5d. And for paying all Accounts relating to that coinage, there is a deficiency in the funds of about two or three thousand pounds, the question is, what shall be allowed in the account of Mr. Allardes upon the pound weight Troy for the said coinage.
Which is most humbly submitted to your Lordship's great wisdome,
IS. NEWTON.
MINT OFFICE, 16 Feb. 179/10.
AND the said Isaac Newton shall have & receive the summe of one shilling & fourpence halfpenny to be by him taken for the coinage of every pound Troy of Silver moneys for the paying bearing & sustaining all manner of wasts, provisions necessaries & charges coming arising & growing in or about the coining of her Majtes Crowns, half-crowns, shillings & sixpences of silver moneys by the mill & press out of the moneys to be paid & payable unto him as is herein after expressed.
And the said Master shall out of the one shilling & fourpence halfpence allowed to him as aforesaid & received by him for every pound weight Troy of the moneys of silver, from time to time pay unto the moneyers the summ of eight pence for the making of every pound weight Troy of the said silver moneys by the mill & press, according to the undertaking & agreement of the said moneyers with the said Master & Worker.
IT is our will & pleasure, & we do hereby authorize & require you & every of you, that in the coinage of such Gold & Silver as shall be imported into our Mint at Edinburgh, you act under & observe the Rules of coinage wch respect your several Offices & are continued & exprest in the copie of the Indenture herewith sent; attested by Sir John Stanley Warden of our Mint in the Tower of London, Sr Isaac Newton, Master & Worker & John Ellis Esq. Comtroller of our said Mint; wch Indenture was made in the first year of the reign with the said Sr Isaac Newton etc. To the General, Master, Warden Counter -Warden Essay-master, & other Officers of the Mint at Edinburgh. The clause of the Act of Parliament made in Scotland 1690, entitled an Act a.nent an humble offer to his Majesty for an imposition upon certain commodities for defraying the expence of a free coynage.
It is ordered that considering that by the Act of Parliament 1686 anent a free coinage there is only allowed eighteen pounds Scots upon the stone weight of Silver. for defraying the whole charge wast expences & loss upon its coinage, wch allowance is found by experience to be too small & insufficient therefore their Majesties with the advice & consent of the said estates do hereby rescind in all time coming that clause of the above said Act & Statute & ordain that the Master of the Mint have allowed him in time coming twenty pounds Scots instead of eighteen pounds Scots upon the just & reasonable allowance for defraying the said charge expence & loss upon its coynage in manner provided in the said Acts.
Treasury Papers,vol. cxx. No. 44.
Html-edition after William A. Shaw's edition in: William A. Shaw, Select Tracts and Documents Illustrative of English Monetary History 1626-1730 (London: Wilsons & Milne, 1896) [reprint: (New York: Augustus Kelley Publishers, 1967)], p.150-153 — webdesign: Olaf Simons, Sep. 2004.