'An Account of the Scotch money' Isaac Newton c. 856 words The Newton Project Oxford 2017 Newton Project, University of Oxford

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 1697, c. 856 words.

[Note on dating: includes the remark 'now (viz anno 1697)'.]

Table of the fineness, weight and value of Scottish coins of various dates, with notes on the conversion rates of Scottish and English weights and currency, and the importance of harmonising the two systems (by making the Scots conform to the English).

 MINT 19/3/2-3, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/3/2-3 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 Minor amendment made by Will Scott
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An Account of the Scotch money.

The Scots ever since a treaty between them and the English in order to a union in the reighreign of K.King IJames yethe 1st have coyned their silver monies of the same standard with the English, vizt 11 ounces 2 penny weight fine & eighteen penny weight allay. For wchwhich end they have indented trial pieces sent from hence of the same placte with those made for the English Mint. The standard Troy weights by wchwhich they coyne are also made at orour Mint at yethe same time with orsours by common consent of both Mints and our pound Troy is greater then theirs by four penny weight and nine grains of ours.. And as we divide orour ounce Troy into 62 pence so they divide their ounce Troy into 62 shillings (for their shillings in this recconing answer to orour pence) excepting that they make their money lighter by four in consideration of the charge of coynage and to prevent the melting down of their money, they make their money lighter by four shillings in the pound wei sixty (as I am informed:) so that 60 shillings of their money are to their ounce Troy as 56 to 62 or 28 to 31 and by consequence ought to weigh 4252031 grains (or 17dwt 172031gr) of our pound Troy (as I find by triall they do) & to be worth 55 English pence wanting the the 48th part of a penny. The experiments we have made of the weight & fineness of their money are as follows.

Pieces coyned Date Kings reign Fineness Weight Value sgr sd A two-Mark piece 1673 Cha: II Worse vijdwt 175 1.978 A Mark piece ✱ Cha: II Worse vij 86 0.1034 Another Roettiers 1675 Cha: II Worse ij 102 1. A half Mark piece 61665 Cha: II Worse iij ob 42 0.514 A three pound piece 1681 Cha II Worse iiij 416 4.434 Another —pound piece 1682 Cha II Worse iij 425 4.616 Another —pound piece 1691 Wm & Ma. sta.standard 425 4.6910 A forty shillings piece 1687 Iac. II not assayed 284 ✱✱ Another —forty shillings piece 1688 Iac II stastandard 283 3.012 Another —forty shillings piece 1689 Wm & Ma stastandard 284 3.023 Another —forty shillings piece 1694 Wm & Ma stastandard 284 3.023 Another —forty shillings piece 1695 Wm sta:standard scant 284 3.023 Another —forty shillings piece 1695 Wm Worse iij 283 3.0 Another forty shillings piece Gul 291669 sta.standard 284 53.023 Another forty shillings piece Gul 1696 worse ij 283 3.016 A twenty shillings piece Gul 1695 sta.standard 142 1.613 Another twenty shillings piece Gul 16965 sta.standard 142 1.613 Another twenty shillings piece Gul 1696 sta.standard scant 142 1.613 A ten shillings piece IaIac. II 1687 stastandard 71 0.916 Another ten shillings piece Iac. II ✱ stastandard 71 0.916 Another ten shillings piece Gul 1695 not assayd 71 ✱.✱ Another ten shillings piece Gul 1695 stastandard 71 0.916 Another ten shillings piece Gul 1695 stastandard 68 0.834 A five shillings piece Gul ✱ worsworse 1dwt 35 0.412 The two Mark the Mark and the half Mark pieces coyned before the year 1675 are bad work & considerably coarser then standard: for which reason they were called in neare the end of that reign and are no longer current. The sixty, forty twenty ten & five shillings-pieces coyned since are better money & make up the bulk of the money wchwhich now (viz anno 1697) comes out of Scotland. Those coyned in the reigns of King IJames & King William are 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 worse then standard. The Scots now pay their shillings for our pence in the borders of Scotland & putt off orour crown pieces for 65 & sometimes 66 of their shillings in Scotland (as I am credibly informed:) wchwhich being an advantage of 8 or 10 per cent has filled the borders of England with their money and Scotland with ours. And the carrying on of this trade hath or might have in time prompted them to melt down our money had not & carry it to their Mint had not orour enquiry into this matter now put an end to it by the Lords of yethe TrearyTreasury ordering the LordsReceivers to refuse their money. If the Scotch money were all coyned of a just weight & Allay 11s 9d of such money would be worth 10d34 of orsours. But considering that some pieces of their money are too light & others too course & that their money is more easily counterfeiters then orsours, we may receive their 10s pieces for nine pences & their 45s pieces for four pence halfpennies & their Mark & half mark pieces (when ever they shall coyne any more) for shillings & six pences, and so3 so proportionally of their other pieces of money. For these are round recconings fit for use and approach the true value of their money most nearynearly.