Report on foreign coin in Ireland, with Newton's comments on it Isaac Newton c. 1,077 words The Newton Project Oxford 2016 Newton Project, University of Oxford

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 8 January 1711/12, c. 1,077 words.

Copies of both letters in PRO, T14/9, pp. 257-9 (calendared in CTB, 26, part 2 (1712): 181-2). Several drafts of Newton's letter in ULC, Additional Ms. 3965, ff.281r-282v.

Newton's letter printed from the Treasury copy in Prior, Observations, 22-4, in Shaw, 176-9, and in McCulloch, Select Tracts, 269-71.

Both letters printed from this copy in NC, 5: 238-40 (Council's letter) and 245-6 (Newton's letter).

(a) 8 January 1711 [= 1712]. Dublin Privy Council to Treasury. Copy in Newton's hand. Certain foreign coins are accepted as current in Ireland, but have not been officially proclaimed as such: accordingly, people who counterfeit them cannot be prosecuted for high treason. Request a Council order to rectify this, specifying the coins and their values.

(b) On reverse: 3 March 1711/12. Newton to Treasurer. Holograph draft. Assessment of the foregoing, correcting several of the statistics quoted. Complains that gold is over-valued relative to silver in England and the same is going to happen in Ireland.

 Copy of note concerning the counterfeiting of foreign gold in Ireland [T 27/20.134] MINT 19/2/236, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/2/236 8 January 1711/12 England English Holograph MintOverseas Mints and Coinage MintCorrespondence Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young Catalogue exported to teiHeader by Michael Hawkins Transcribed by Will Scott Will Scott finished transcription

Council Chamber Dublin yethe 8th day of January 1711

May it please yoryour Grace

Some of yethe Iudges who went the last summer circuit in this kingdome having informed this board that several Criminals had been indicted & tried before them for counterfeiting Quadruple Pistoles of Gold & other Forreign Coyne wchwhich pass in payment in this kingdom, but could not be punished pursuant to a late Act of Parliament passed in Ireland wchwhich makes it high Treason to counterfeit forreign Coyne wchwhich is or shall be made current in this kingdome by Proclamation of the Chief Governour & Council, because it happened by mistake that yethe Quadruple Pistoles of Spanish Gold & Double Louis D'ors & other pieces of forreign Gold which pass here in payment were omitted in the last ProclationProclamation wchwhich declared coyn current in Ireland, tho at the same time single Pistoles & single Lewis D'ors are mentioned therein, and because we do not think proper to take upon us to Issue a Proclamation here without Directions from her Majesty, we desire yoryour Grace will obtain her MatiesMajesties Orders directing Vs to Issue a Proclamation for making all such Forreign pieces of Gold as pass in payment in this kingdom current by Proclamation that such who do counterfeit them may be punished by Law vizt The Quadruple Pistole of Spanish Gold weighing 408 grains to pass at £ 3.14.– The Double Pistole weighing 204 grains at £ 1.17.– The Double French Louis D'or weighing 204 grains at £ 1.17– The quarter Spanish Pistole weighing 25 grains & a half at 4s. 7d12. The quarter French Pistole weighing 25 grains & a half at 4s. 7d12. The Portugal piece of Gold called a Moyder & weighing 168 grains at £ 1. 10. 6. The half Moyder weighing 84 grains at £–15s. 3d. And the Quarter Moyder weighing 42 pounds at 7s. 7d12 And we humbly pray yoryour Grace will please to take the first opportunity to obtain her MajtsMajestys pleasure herein because we are informed great quantities of those forreign coyns have been lately counterfeited in this kingdome to the damage of her MajtsMajestys subjects, wchwhich will be prevented for the future by making them current by Proclamation according to Law.

We are My Lord YorYour Graces most humble Servants Con Phips Canc. R Ingoldsby Abercon. W Kildare. Cha Fielding P Savage Rich Cox. Ino Percivale. Cha Dering Sam Dopping A true copy Edward Southwell. This Letter was sent by his Grace the Duke of Ormond to the Lord Treasurer & by his LopLordship to yethe Master of the Mint who made the following Report. 236
To the Rt HonbleHonourable yethe Earle of Oxford & Earl Mortimer Lord H.High Treasurer of great Britain May it please yoryour LordpLordship According to yoryour LordpsLordships Order signified to me by Mr Secretary Harley in his Letter of 26 Feb. last, I have considered the Letter of his Grace the Duke of Ormond her MajtsMajestys Lieutenant General & General Governour of Ireland sent to yoryour LordpLordship, together with the Representation sent to his Grace from the Lords of Her MatsMajestys most HonbleHonourable Privy Council of that kingdom, mentioning a late Proclamation for making current in Ireland some pieces of forreign gold & proposing the making current there by further Proclamation several other pieces of forreign gold therein named in order to prevent the counterfeiting thereof. And as to the value of the pieces I humbly represent that the Spanish Pistoles one wthwith another as they are brought hither by the Merchant, weigh 103 grains each at a medium, & are in fineness half a grain worse than standard, & after the rate that a Guinea is valued in England at £ 1. 1s. 6d are here worth 17s 1d & in Ireland where the silver money is raised a penny in the shilling, if they be raised in the same proportion, become worth 18s 6d. And in proportion the Quadruple Pistole weighs 412 grains, the double Pistole 206 grains, & the quarter Pistole 25{?}{?} grains & three quarters. But in the Representation the Quadruple Pistoles are said to weigh 408 the double 204 grains & the Quarter Pistole 2512 grains. Whence I gather that in the former Proclamation the weight of the Pistole was put 102 grains, wchwhich is a grain lighter then the just weight, this grain as I conceive being abated to give a legal currency to such lighter pieces as want not above a grain of their just weight. And upon this consideration the Quadruple Double & Quarter Pistoles may be put in weight and value as is exprest in the Representation. And so may the double and quarter Lewis d'ors, they being of the same weight fineness & value with the double & quarter Pistoles. The Moyders of Portugal one with another, as they are brought hither by the Merchant weigh 16534 Grains at a medium, & are a quarter of a grain better then standard, & in England are worth 27s. 8d12, & being raised a penny in the shilling become worth 1li 10s– in Ireland. In the Representation their weight is put 168gr wchwhich is certainly too much, & thence it comes to pass that they are therein valued at 1li 10s 6d which is 6d too much. I have examined the weight of 30 parcels of Moyders conteining a thousand Moyders in each parcel & thereby found that the Moyder at a medium weighs only 165 grains & three quarters. If in favour of the lighter pieces the fraction be abated their weight & value in a new Proclamation may be put as follows. The Portugal piece of gold called a Moyder & weighing 165 grains to pass at 1li 10s –. The half Moyder weighing 8212 grains at 15s & the Quarter Moyder weighing 41 Grains & a quarter at 7s. 6d. Gold is over-valued in England by in proportion to silver by at least 9d or 10d in a Guinea, & this excess of value tends to increase the gold coins & diminish thies silver coins of this kingdom. And the same will happen in Ireland by the like overvaluing of gold in that kingdom. But its convenient that the coins should bear the same proportion to one another in both kingdoms for preventing all fraudulent practices in those that trade between them, & that the proportion be ascertained by proclamation All wchwhich &c Mint Office 3d March 171112