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Inquiries concerning the 800000 Dollars of Peru & Mexico
& Pillar pieces of eightDollars, purchased by her Majesty for the
Spanish serviceSpanish serv & coyned into two Ryal pieces for the Spansih service...
Qu 1. What is the proportion of the Spanish weights to the English Troy weights
to the Spanish weights used for weighing of gold & silver? A: Twenty ounces Troy weigh 9600 grains
Troy & twenty ounces Spanish weigh about 8840 of the same grainswithin 10 or 20 grains over. If the
Gentlemen who are sent by her MatyMajesty as CommrsCommissioners from her MatyMajesty into Spain for
should carry with them a pound weight Troy with ounces penny weights & grains
exactly made, they may weigh 20 spanish ounces at the Mint Spanish Mint & thereby determin these Spanish weights of
exactly.
Spanish ounces, but the pound Troy contesins only twelve ounces Troy and theis ounce
conteins 20 penny weights & the penny weight 24 grains
Qu. 2. What was the weight of the pieces of 8Mexico & Pillar pieces Dollars? A.A.
of these Mexico pieces of 8Dollars as they are now brought by the Merchants from Mexico should weight 875
they usually weighed but 872 ounces at wchwhich rates 800000 piecesDollars should weigh
ounces Tory. pieces
8 wereDollars was entred & upon delivery of the same. And say by the Rule of three, As
the twenty ounces Troy to twenty ounces Spanish so is the whole weight bothof the Dollars in
spanish to the whole weight in English ounces
a 1000 Dollars in spanish ounces to yethe weight of a 100 in English ounces. And not that
For example If the Spanish be English ounce should be to the Spanish ounce as 9600 to
8840 & the whole Spanish weight of the 800000 Dollars was should be found in the books to be 7574389 Spanish ounces, the
whole English weight in English will be found by the Rule of three to be found ., And note
th & the whole weight of a thousand will be found 872 ounces Troy. And note that if
the weight of a thousand prove to be 872 ounces Troy, or within an ounce or
two over or under the
pieces of 8 Dollars may be presumed to have been failyfairly perf
or two less then 872 ounces,
matter. For they were bought upon a supposition that a 1000 would weigh 875
ounces.
Qu. 54 What ought to be the whole weight of all the Two-Ryal pieces coined
out of the all the 800000 pieces of 8? Answ. By the assay I find that the
Mexico fine are 11 ounces 1dwt fine & Ttwo-ryal pieces are one per cent worse in fineness then the Mexico pieces of 8Dollars be encreased one per cent
& you will have the whole weight of the Two Ryal pieces including the seigniora
As if the whole weight of the pieces of 8Dollars were 7574389 spanish ounces, the whole
weight of the Two-ryal pieces ou
Pillar Qu. pieces are of 8 are about a penny wtweight better then the Mexico && so need
not Qu. 4 be considered apart.
Qu. 45. What number of Two Ryal pieces ought to be coined out of
all the 800000 Dollars? Ans. By the weight of four of them wchwhich was dwtdwt 12gr I found that one
with another they weight about dwt 9gr Troy, one wthwith another. Let 100
of the at which rate an 100 of them should weigh 16 ounces 17dwt
12gr & 100 of should weigh about 20 ounces Spanish Let 100 of them be weighed in Spain both in Spanish & English weight & there shoul the weight will be had
more exactly. And if another 100 d 100 be weighed & a medium be taken
the weight will be had still more exactly. Then say by the Rule of three. As
an 100 is to the weight of an hundred (whether in English or Spanish ounces)
so is the is to the number of an hundred so is the whole wei
whole number of As if an hundred weigh 16 ounces 17dwt & the whole weight be 750133 them.
And not that an 109 of them will be aboutweigh about 20 ounces Spanish within a few carats over or under.
Qu 56 What is the number of the two Ryal pieces remaining to the Queen after the deduction of the seigniorage. Answ. In forreign Mints there is usually a Duty called a seigniorage or Duty paid for coinage. In the English Mint 12 ounces Troy was cut outis coined into 12 cownscrowns & two Shillings & the two shillings was formerly deteined by the called the Seigniorage for maintaining the Mint & defraying the
charge
charges of coinage, & the twelve crowns was returned to the Merchant for his twelve ounces of standard Silver. In the Mexico twenty ounces of silver isof their standard is cut into coined into 21 pieces of eight, wchwhich makes it probable that one of those pieces may be deteined by the Mint & the for seigniorage & the other 20 returned to the Merchant for his 20 ounces. In K.King Charles his Mint 20 ounces spanish ounces are cut into about 104 two ryall pieces & perhaps 4 of those pieces may be deteined for seigniorage But what the Seigniorage is in that Mint must be learned from the Mint it self. Also the weight & Books of that Mint are to be consulted to know the whole weight & the whole number of the Two Ryal pieces & And this seigniorage being deducted the remainder will be the Queens money coined out of the 800000 Dollars.
For know more exactly the weight & tale of these moneys the books of that Mint should be consulted. For there the weight & tale of all the moneyes coined out of the pieces of 8 will be found entred. And if theThose books are also to be consulted for the gross weight of all the Ingots wchwhich were melted out of the pieces of eight will be also found entred in their books. And & out of wchwhich the two ryal pieces were coined, & for the weigh of all the Ingo peieces of 8 as before they were melted into INgots & of the silver wchwhich was got out of the sweep of that melting. For the Ingots melted out of the pieces of eight will be lighter then the pieces of eight by about halfone per cent, &some part of the silver & allay going away in smoak & some part being always scattered among the ashes & adhering to the melting pot & cinders & being scattered among the asshes., & about one half of what or two thirds of what is thus lost may be got out of the cinders & ashes by an operation wchwhich they call making up the sweep, & should be enquired after. All the wast & charge in coining the money out of the Ingots is made good by the Master of the Mint out the what is the method of that Mint for
Q. 3.Inqui What oug was the gross weight of all the Ingots melted out of all the 800000 dollars? Ans. This weight may be found entered in the Books of the Spanish Mint or Mints where the pieces of 8Ingots were coined. But And furth it may be also deducted pretty nearly from the weight of all the p 800000 peices of 8Dollars before melting. For it is to be in the melting there is a wast some of the allay fumes away & some of the silver sticks to the melting pot & to the scales of iron wchwhich come of from the pott & to yethe coales wchwhich fall into the pott, & some of it will spring into the fire & be scattered among the ashes, or be spilt & by all this wast the Ingots will become lighter then them the money was before melting by about or perh or perhaps or per cent. And the out of the cinders & as asas may be got same a considerable quantity of silver wchwhich been be an operation wchwhich we call making up the sweep. Which silver being added to yethe Ingots will make up the weight of the money wanting only about the three hundredth part of the weight. And by this proportion, either the weight of the money Ingots arising from the money & sweep may be gathered from the weight of the moneys & on the contrary, the weight of the money may be gathered from the weight of the Ingots.
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These factsThere fore For let the three hundrethhundredth part of the weight of the money be subducted from theat weight & the remainder will be the weight of the Igngots proceeding from the money & sweep without any error worth considering.. Or on the contrary, if the weight of all these ingots be known, let the three hundredth part thereof be added to it & the summ will be the weight of the money before melting. It must be enquired therefore what silver has been got out of the sweep or what allowance has been made to her MatyMajesty for the same. DAnd if the And if a doubt arise abot about it: Let the weight of the moneys before melting be diminished by the 300th part thereof & from the remainder lett the weight of the Ingots produced by melting the moneys be subducted & the remainder is the weight of the silver wchwhich ought to be got out of the sweep for her MatyMajesty & & this silver or the value thereof ought to be allowed to her MatyMajesty by him who melted the moneys into Ingots. Sometimes the Melter bring agrees at a certain allowance by the pound weight to make good the bring of the old moneys melted down to bring in so much supply of silver of the same standard, as shall being added to the Ingots shall make up the f weight of the moneys before melting. And this allowance should be about the 300th part of the value of the the silver melted.
Quære 6. What was the charge ought the Queen to beare for of coining the 800000 two ryal pieces? Ans. Dollars into two Ryal pieces? Ans. If the Wueen be consideretion these Besides the wast in the first melting of there is the char there is the chthe Dollars into Ingots wchwhich as I said is about the 300th part of the silver melted, there is the charge of the firstIngots Dollars that melting to be recconed wchwhich charge in London is about the thabout a penny or th607th of a penny for every pound weight of silver (or at least th of a penny) or at the lowestor at the lowest that is, about the 800th part of the value of the silver.. melted. And there is also the Seigniorage melted, that is or Duty paid for coining the Ingots into two Ryal pieces. This Seigniorage In the Mint in the Tower before the making of the coinage Act they coined twelve ounces of silver into twelve crowns & two shillings & paid back to the Importer a crown for every ounce of silver imported & kept the two shillings for Seigniorage. & pa What the seigniorage is in the Spanish Mints I do not know. T Twenty one Mexico pieces of 8tDollars make 20 ounces of Spanish, & 104 two ryall piepieces are of the same weight. wchwhich makes it probable that the seigniorage in the in year Mints at Mexico they the seigniorage the seigniorage is one piece of 8 in every twenty ounces 8 or King Charles his mints four two Ryal pieces inis twenty ouncesin silver , the Importer receives, back out of out of the Mint a piece of 8tDollar for every ounce imported at five two ryal pieces for every ounce in K. Charles's mints. But & the King a Piece ofof 8t a Dollar in every twenty ounces for seigniorage And after the same rate K. Ch the Officers in K.King Charles mint may retain 4 pieces for seigniorage in every 20 piecesounces coinedor 5 pieces of every twenty ounces. For four of these pieces pass in Spain for a place of 8t. But what is the signiorageseigniorage in that mint must be known at the Mint it self. And enquiry should also be made whether the charge of the first melting & the want or either of them be not included in the seigniorage.
Q. 7 Q What number of two Ryal pieces are the Queens Officers to receive out of the Spanish mint? Answ. The number received out will be found entered in the books of the Spanish Mint. And the number wchwhich ought to be received will be had by deducting the seigniorage from the whole number wchwhich ought to be produced by coinage. And if the charge of the coi first melting not included in the Seigniorage but has bee paid out of the new coined monesmonies that charge must be also deducted. And note that 20 Spanish ounces spanish of silver in the Ingots make 100about 100 two ryall pieces out of wchwhich & if the seigniorage should ‡
‡ Should be 4 of those pieces & all other charges about half a piece, there would remain to yethe Queen about 105 pieces two ryall pieces for every 20 Spanish ounces of Ingot, that is for every 21 Mexico & pillar pieces of 8tDollars. And at this rate her MatyMajesty should receive out of the S for the 42 800000 pieces of 8tDollars should receive out of the spanish Mint about 4200000 two Ryal pieces.
The charge of melting the Mexico Dollars into Ingots (if it be not included in the Seigniorage) is to be born by the Queen, & may amount to a two ryal piece for every 16 or 18 pound weight Spanish 200 Dollars or to 4000 two ryal pieces for the whole.
Qu. 8. What is the value of a new piece of 8t in Spain.? Answer.
About 25 years ago, The Portugese have raised their money 20 per cent Ever sSince the year 1686 the Spanish money has been raised 25 per cent & new Sevil pieces of 8t coined accordingly
[And I think Mexico the pieces of 8t now goes in Spain for 10 Ryals so thatAnd the money of Portugal has of late years been raised 20 per cent
I have seedn some new Sevil pieces of 8t which wchwhich by the weight were but & assay were in value but four fift parts of the old Mexico Sevil pieces. And these newtwo Ryal piecesThese weighed 141dwt. But whether the old pieces of 8t were raised in Spain from 8 ryals to ten I cannot affirm. If they were not raised to ten ryalls out still go for eight ryalls, then four of the new two Ryal pieces of King Charles are to be recconed in Spain of equal value wthwith the old pieces of eight. I do not say that they are of equal value for the melting pot, but of equal value f in payments to the army & people.
About nine years ago I examined two new Sevil pieces of 8 dated 1691 & 1700 & pound them standard & they weighed 14dwt wanting a grain or two & so were in value 3s 7d wchwhich is just four f the old pieces of eight. These new pieces &c
Two new Sevil piece of 8 dated 1691 & 1700 being about 9 years ago examined by were found them standard & then weighed 14dwt wanting a grain & so were in value justjust four fifts of yethe Mexico pieces of 8t, & old Sevil pieces of 8t.
These new pieces going for 8t Ryalls the the Ryall pieces of K.King Charles must go in Spain for a quarter of these that value new pieces. & be And if the old pieces of 8t were notDollars have not been raised fro in Spain from 8 Ryals to ten the but still go fo only for 8 Ryalls, the f (for I have not yet informed my self of this particular) then the old four of the two-ryal pieces of K.King C.Charles must in payments be recconed equivalent to a Mexico or silver piece of 8tor silver Dollar. I do not say that they are of equal value to the Refiner for the melting pot, but only of equal value in payments to yethe army & people of Spain. And because of this rate yethe
As the King of Spain has raised the money of Spain 25 per cent so also the King of Portugal of that nation has lately raised the money of that nation 20 per cent recconned fo
– including the Seigniorage And so far as I am yet
The seigniorage is a Duty paid by the Importer for coinage & how much it is must be know at the Spanish Mint.. In the mint in the Tower before the making of the coinage Act, twelve ounces of standard silver were cut into 12 crowns & two shillings & the 12 crowns were deliverd for seigniorage Twenty one Mexico Dollars make 20 ounces spanish & since its probable that the Importer receives out of the Mexico mints 20 Dollars for his 20 ounces & a Dollar is deteined for seigniorage. At this rate four two Ryal pieces should be the seigniorage for coining 20 ounces in K.King Charles's mint. For eight Ryals a Mexico Dollar or piece of eight is a piece of eight Reaus or Ryalls. About 25 years ago I examined two new Sevil pieces of 8t dated 1691 & 1700 & found them be standard & lighted by a fift part then the old pieces of eight. And these two-Ryal pieces being for a quarter of the newby their name go for quarter pieces of eight, & & so four of them go in Spain for eight ryalls wchwhich is as much as old pieces of eight ryalls being about a quarter of the new pieces of eight wchwhich go for for as much as the old ones.
In a pound weight oftwenty ounces spanish ounces of these new two-ryal pieces there are about 109 pieces.. of this money. If four of them be deteined for Seigniorage, the Queen should receive 105. Twenty ounces of Ingot has been allayed wthwith the fift part of an ounce of copper &or perhaps wthwith a quarter of an ounce & so so should produce 11 pieces of two ryals or 110. Therefore let the books of the Spanish mint or mints be examined to see what weight of Ingots has been coined, what allay has been put to the Ingots, what number of two-ryall pieces has been delivered out of the Mint for the service of her MatyMajesty & what number havse been deteined for seigniorage. Also let the laws of that mint be enquired into, as to the weight or& fineness of the meoney & the seigniorage & how far the master of that Mint or Mints has observed those laws. And particularly how it comes about that the two Ryal pieces are coarser by about 1 per cent then the Mexico Dollars, whether it be by the law if the Mint or by the error or gression of the Master & worker; & how it how many pieces it comes about that the two Ryal pieces are about four per cent lighter then a quarter of yethe new pieces of 8 or then a fift part of the old ones, or that 20 ounces make 109 peicespieces, whether it be by the law of the Mint or by the fault of the master & workerof the Mint; & who has had the advantage of the lightness. For if the Master &of the Mint has made any advantage to himself either by the coarseness or by the exactnesscoarsenesshighness of yethe money he ought to make satisfaction. As for instance, if by the law of yethe Mint Master signedought to coin 20 ounces into 104 or 105 peicespieces & has coined them into 109 pieces, the question will be, Who has had the advantage of the excess of