Report on copper coinage schemes Isaac Newton c. 611 words Newton Project London 2020 Newton Project, University of Oxford

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 Late April 1708?, c. 611 words. Treasury

[Conjectural dating on the assumption this document was written not long after MINT00403, backed by the fact that this was precisely the time when Newton was being most pestered by unwelcome copper coinage proposals.]

Hopes to put an end to proposals for new copper coinage. The nation is sufficiently stocked with copper for two or three years yet and then 40 tons will be enough. Specifies the quality of copper to be used and the hammer test for verifying it. The Mint can undertake the coinage more cheaply than any private contractor.

Preceded by a holograph draft of MINT00403 (Mint 19/3/46).

 MINT 19/5/30, National Archives, Kew, Richmond, Surrey, UK UKSurreyKew, RichmondNational Archives MINT 19/5/30 Late April 1708? England English Holograph MintCopper Coinage MintEdinburgh Mint Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young Catalogue exported to teiHeader by Michael Hawkins Transcribed by Robert Ralley.

May it please yoryour LordpLordship

We beg leave to acquintacquaint yoryour LordpLordship that by the last Post we h

Mr Daniel Stuart the Collector of the Bullion for her MajtiesMajesties Mint at Edinburgh, being, as we hear, very far spent in a consumption is dead (as we hear by the last Post) so ytthat his death when the last Letters came we heard last from Scotland was daily expected. We humbly beg leave to aquaint your LordpLordship therewith & to represent orour opinion that upon his death thise place should cease of Collector of the Bullion should cease [as being contrary to yethe Scotch Act of ParliamtParliament wchwhich setled the Bullion upon the said Mint [& that the oneys in his custody be paid into the hands of yethe General & Master of thaet sdsaid Mint upon account to be kept in a chest in yethe Treasure of the said Mint under the keys of the General the Master & the two WArdens of the said Mint, & & to be accounted for annually by the Master of yethe said Mint.] And that for the future the said sdsaid Bullion be kept as as it shall be be collected in for the future be the manner appointed by the Scotch Act of ParliamtParliament wchwhich setled this Duty on the Mint & be kept in a dis apart in the Exchequer in a proper chest under the keys of the Cash Keeper of North Brittain & also (if it be thought fit) under the Key of the General of the sdsaid Mint as the said Act directs, to be issued out thence by from time to time by Warrants to the General & Master of the said Mint & kept into the Chest Treasury of the sdsaid Mint by Warrants & & kept there under the keys of the said Oficers to for the uses of service General the Master & the Wardens for defraying of the said Mint the charge of coynage & repairs & vaynes of Salaries & be accounted for annually by the Master of the said Mint, according to the direction of as the Indenture of her MajtiesMajesties Mints directs.

For putting an stop end to proposals & petitions about the coynage of Copper half pence I humbly represent that about six hundred Tunns of such money is sufficient to stock yethe nation England & there being seven hundred Tunns coyned by yethe last Patent, the nation is still sufficiently stockt wthwith them & the so that a new coynedage may be delayed two or three years longer at yethe l or above & when they b they such money shall begin to be wanted I am humbly of opinion that the coynage of 40 Tunns once in 4 or 5 years will be sufficient to supply the uses of the nation & that they it should be coyned of such copper as will endure yethe hammer when heated to a dark red & (upon account or by a neare estimate) of such a value as will pay all charges upon account & or by a near estimate & that it will be above two pence in the pound weight cheaper to make the blanks by casting then by hammering cheapest to& best safest best to have the whole coinage performed in the Mint the blanks being made by casting, & that the copper be bought at the Market price to be allowed by yoryour LordpLordship & paid for by the Master & Worker out of the copper money. And that a pound weight be not made into more then 20d unless the price of Copper rise considerably.