Response to a petition from Abel Slaney and partners to coin a further 700 tons of halfpence and farthings Isaac Newton c. 408 words The Newton Project Oxford 2016 Newton Project, University of Oxford

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 13 July 1703, c. 408 words. Treasurer

Printed in NC, 4: 408-9. Slaney's proposals are in PRO, T1/85, no. 141 (18 May 1703) and T1/86, no. 91 (6 July 1703).

Recommends returning responsibility for copper coinage exclusively to the Mint (as before 1694, when it began to be farmed out to private coiners). There is in any case no demand for such a large quantity of copper.

 MINT 19/2/301, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/2/301 13 July 1703 England English Holograph Unknown Hand Unknown Hand (1) MintCopper 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

To the RtRight Honble Sidney LdLord Godolphin LdLord High Treasurer of England.

May it please yoryour LordpLordship

In obedience to yoryour LordpsLordships Order of Reference of the 16th of Iune last past upon the annext Proposal of Mr Abel Slaney for himself & partners for a new Coinage of 700 Tuns of half pence & farthings, We do humbly acquaint yoryour LordpLordship that We have enquired into all the Coinages of that sort since the year 1672 & do find that in the Reigns of K. Charles yethe 2d & K. IJames the 2d & in the beginning of the Reign of the last King & Queen the coinage of half pence & farthings was performed by one or more Commissioners who had money imprested from the ExcheqrExchequer to buy Copper & Tin, & coined at 20d ꝑper pound Haverdupois & accounted upon oath to the Government for the produce thereof.

That upon calling in the Tin half pence & farthings by reason of the complaints made against them, there was a Patent granted to the Proposer & others who contracted to change the Tin farthings & half pence, & to enable them to bear that charge they were allowed to coin 700 Tuns at 21 pence ꝑper pound weight without being accountable to the Government. Which reason now ceasing we are humbly of opinion that the former method by Commission is most advantageous to the Government.

We do not hear there is any demand of halfpence & farthings at present, & tho there should be a want in some places it seems to proceed from an unequal distribution, for we are informed they are overstockt with them in others, as at yethe General Post Office, about Newcastle & at Leicester.

We are further of opinion that the coynage of halfpence & farthings in this Kingdome should be to the intrinsick value, the charges of yethe coynage & Incidents deducted; but if that be not thought advisable at present for fear of stopping the currency of those that are already abroad, We humbly conceive that whenever a new Coinage shall be thought convenient, it should be done in small quantities as her Majesty from time to time shall appoint, to supply the decrease & loss of those already coined without danger of new complaints by overstocking the Nation

All wchwhich is most humbly submitted to yoryour LordpsLordships great Wisdome.

Mint Office 13 Iul. 1703

Is. Newton.

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