Selected quad for the lemma: money_n

Word A	Word B	Word C	Word D	Occurrence	Frequency Band	MI	MI Band	Prominent
money_n	ounce_n	penny_n	shilling_n	2,313	5	11.3242	5	true

Text snippets containing the quad

ID	Title	Author	Corrected Date of Publication (TCP Date of Publication)	STC	Words	Pages
A34498	Copy of a pape [sic] presented in the year, 1681, to the then Duke of York vvhilst he was in Scotland; entituled, Considerations on the Scots Mint; and of a commission granted under the Great-Seal, in the year, 1682. by King Charles the Second, for the tryal of the mint; and of the reports made thereon: together with the copies of His Majesties several missive letters, containing his approbation, and further determination thereanent; faithfully transcribed from the originals.		1691 (1691)	Wing C6183B; ESTC R215455	28,778	48

comes the two late Acts of Parliament concerning Bullion to differ so much The first being 1 Par. Ch. 2. Act 37. Earl Middleton Commissioner wherein the penury of the Coyn of Scotland is justly charged upon the small proportion of Bullion Imported For remeid whereof and to prevent the abuse of taking current Money or so much per ounce or any other thing in place of Bullion It is ordained according to the antient custom of this Kingdom that the Merchants find good Caution or give Pledges to deliver their due quantities of Bullion answerable to the Commodities which pays the same in to the Officers of the Mint which Officers are also discharged to receive any satisfaction whatsomever from the Merchant except only forraign Bullion or to transact or compone any manner of way for it upon very penal Certifications The other being 2 Par. Ch. 2. Act 8 Duke Lauderdale Commissioner whereby the former good Law and all the preceeding Laws for Importing of Bullion are in a manner Repealed for by that Act it is left to the option of the Merchant to pay Bullion or twelve pence English for the ounce thereof in place of it self and the Officers of the Mint are left to Import the Stock of Bullion themselves at their own discretion 5. Since that time the matter has been so mannaged that the Merchants are well pleased to be free of the vexatious attendance upon the Essays and payments of their Bullion at the Mint-house and choice rather to pay the 12 pences for every ounce to redeem themselves from the trouble and loss of their time albeit it be otherways to their prejudice 6. The true and just advantage for support to the charge of Coynage which the Officers of the Mint ought to exact betwixt the Imported Bullion of pure Silver or being baser to be considered by weight and reckoning and the King 's current Money of Sterling fineness is only 7 pence English upon the ounce which is the intrinsick value of the difference betwixt the two But by the late Act of Parliament if Bullion were Imported there is but 5 shillings and about a penny English to be payed for each ounce thereof whereby the gain is increased to 8 pence and some more and now when only Money is received in place of Bullion the profit arises to full 12 pence per ounce besides other advantages 7. In the Parliament 1674. a Complaint was exhibite upon the abuses of the Mint both as to the weight fineness and otherways but the D. of Lauderdale then His Majesties Commissioner rejected it and to palliat the matter plausibly ordered a a Committee of Council to make Tryal of that affair who as they were named were either too great Friends to the Parties concerned or not at all versed in such matters for they knew not how to proceed but did as the Officers of the Mint instructed them so a superficial Tryal was used with more jesting than knowledge and a Report made approving all to the Council then a piece of Silver was sent with great speciousness to His Majesty to be put to the Essay at London which piece albeit it had the advantages of passing the Fire before it came there yet all the Tower was not found to be of Sterling fineness Nevertheless a Letter was procured from the King to Exoner Indemnifie and thank the General and Officers of the Mint for their Fidelity and good Service in that Trust which being publickly read in Council was opposed by divers of the Members who objected the abuses committed by the Officers of the Mint and offered demonstratively to prove them immediatly But the effect of all was the General the Mint-master and the rest were approven and the movers of these Objections soon turned out of the Council to terrifie others from using the like freedom and faithfulness thereafter 8. Many true Essays of all the several species of His Majesties Money Coyned at the Mint-house in Edinburgh has been made by particular persons both at the Tower and at Goldsmiths-Hall in London but there was never one piece of them stamped before the year 1674 that proved to be of Sterling fineness but all were base less or more and some to the degree of 11 penny worse and as for the weight the half-merk-pieces were found in the Ballance to differ 6 grains one from another which 2 grains at most is the remedy allowed them the truth of this can be instructed by Testimonies in writ under the Hand and Subscription of Peter Trovel then Essay-master of London 9. It 's no wonder then that our Money be both scarce base and light In respect 1. The Merchants brings no Bullion home whereby the Original Fountain from whence our Money should flow is not only drained but even our own and the best of Forraign Coyns current with us dayly exported and the basest of Money from abroad returned hither again in lieu thereof which of late is become a profitable Trade to the undertakers 2. If Bullion were Imported yet when the tryal of the fineness is neglected it will quickly corrupt and disgrace the Native Coyn of the Kingdom And 3. Seing there is neither check nor control upon the Weight as it ought to be by payment of the Bullion to the Importer in the current Money of this Realm put in the Ballance weight for weights and no otherways without which the lightness passes undiscovered 10. These things considered Why the Council should have raised the extrinsick value of all our own Coyn to the rate of five per cent more than it was current for before is much admired except it be pretended that our Merk-pieces and others are carryed over to Holland melted down there and returned to us again in Cullen and Leg-dallars which are a baser species of Money than our own whereby they make good profit but we must pay for it at last 11. The Emoluments arising to these imployed in the Mint being so Lucrative as it is made of late may be well understood by the sudden increase of the Riches of the Officers entrusted therein 12. How unfit it is for any Member in the Thesaury especially for the Thesaurer Deput to be General of the Mint appears in this That it is a special part of his Office to call yearly before the Exchequer for an exact accompt of all Bullion imported and payed in to the Officers of the Mint As also how and in what species the same is stamped by them for a constant supply of the Stock of Coynage to the Nation whereas now as the matter is stated he is only to compt for himself 13. The Officers of the Mint ought to be men honest and faithful free from the guilt of suspition of the Crimes of Bribery or Perjury in respect the greatest security demanded of them for their Trust is their Oath De fideli 14. But if they pretend Warrands of Parliament and Council to justifie themselves from the Charge of abusing their Trust it

assumed by the Generals Remedies and all for he would not allow any Defalcation to the Workmen or Wardens as appears by an Accompt given in all Written with the General 's own Hand and the first Journal consisting of Seventeen thousand Stone will by the rule of Proportion afford of free Gain two hundred twenty six thousand three hundred seventy eight Pounds so that the free Gain of both the Copper-Journals amounts to Three hundred and ninety two thousand eight hundred thirty three Pounds whereof there being only due to the Officers of the Mint by His Majesties Gift the Profit arising from Six thousand Stone which is about the fift part of the free Profit they have gotten So that they are justly due to the King of the Profit that they have gotten of the said Copper-Coyn Three hundred and fourteen thousand Pounds Scots which in English Money is Twenty six thousand one hundred and sixty six Pounds thirteen Shillings four pence But there being much more Coyned out of the stone of Copper the first journal than was coyned out of the Stone of Copper the second Journal as is clear by their own Depositions the Profit must be yet a great deal more and the Profit arising to the Generals and Masters of the Mint from the Bullion weight and fineness of the Coyn and exaltation-Exaltation-money can hardly be well known but it appears by a Claime given in by the Generals to the master whereby they crave the half of the Benefit of the twelve shilling for the ounce of Bullion not payed in by the Merchants in specie that should have been employed for the buying of Bullion the whole Bullion of the Kingdom payed in Twelve Shilling for the Ounce being an Hundred and fifty Stone yearly at Five Pound Ten Shilling Eight Pennies Scots upon the Pound beside the Kings Twelfth part for the said one Hundred and Fifty Stone will amount yearly to the Sum of Thirteen thousand two hundred and eighty Pounds Scots which from Candlemass 1670 conform to the Act of Parliament by which Merchants were allowed to pay in to the Mint Twelve Shilling in place of every Ounce of Bullion being Twelve years and a half amounts to the Sum of an Hundred and Sixty Thousand Pounds Scots and the Profit arising by the difference of the Coyn from the indented Standart-Plate doth thus appear the Scots Coyn being often Two Grains less than Eleven Dinnier Fine which being Four Grains less than the indented Sandart-Plate they usually working upon the Remedies of Fineness which with the Remedies of Weights will amount to an Hundred Pound Sterling yearly which for the space of Sixteen years by-past will amount to the Sum of Nineteen Thousand Two Hundred Pounds and the Profit arising by the exaltation-Exaltation-Money being Three Shilling Two Pennies upon the Ounce which is Forty Pound Ten Shilling upon the Stone upon two hundred Stone that is Coyned yearly which for an year and a half by-past will amount to Twelve thousand Pound and the Profit of Two hundred Stone lying uncoyned in the Mint the time of the Exaltation by that same rule will amount to Eight thousand Pound and the Profit arising from the King's Stock of Twenty thousand Merks allowed yearly for buying of Bullion might be Coyned and Exchanged at least ten times in a year being Two thousand two hundred seventy three Pound yearly for these Twenty one years by-past since the King 's happy Restitution will amount to the Sum of Forty seven thousand seven hundred seventy three Pounds Scots Money and the double Payment of the Generals Sallaries for the space of three years preceeding the year 1664 which was unjustly exacted is Four thousand and nine hundred Pounds and the yearly Interest arising by the Bullion payed in to the Generals and Master of the Mint by the Merchants and not Coyned in due time seing it appears by the Books that there was always 200 Stone of Bullion in their hands and not Coyned for the space of 16 years ever since the year 1666. will amount to the Sum of an hundred and twenty eighth thousand pounds which Sums in all will amount to the Sum of six hundred and ninety nine thousand eight hundred and seventy three pounds Scots which in English Money is fifty eight thousand three hundred twenty two pounds fifteen shillings and which is beside the profit of the Money Coyned without Essay which cannot be known it being oft-times worse than the Standart which likewise will amount to a great Sum All which profits albeit they belong to the King yet they have been retained by the Generals and the Master and imployed for their own privat use and thereafter there being some Information made by the Lord Hatton that he was willing to declare and give an Account of all things relating to the Mint And the Commissioners having sent two of their own number to him to know if he would yet give a full and ingenuous declaration of things relating to the Mint he absolutely refused unless First he was allowed to see all the Depositions of the other Officers and Evidences adduced which being altogether contrair to Law and Form The Commissioners were of the Opinion that it could not be granted but declared to him if he would give a full and ingenuous Accompt of all things relating to the Mint he should then see all the other Officers Depositions and other Evidences adduced before Report were made to His Majesty which he refused And as to the Trial of the Fineness of the Money coyned in His Majesties Mint the Commissioners humbly represents to His Majesty that the practice formerly used in the Mint in order to a Trial of the Fineness of the Money coyned was that at every Journal there was a part cut out of an whole peice of Coyn reserved in the Pixe and the peices of several Journals being all melted together in one Lignat was to be tried by the Standart By which Trial His Majesty may be grosly abused and such a Trial is altogether elusory for the peice of Silver that made up the Lignat being taken out of the Coyn of several Journals The Officers of the Mint might coyn one smal Journal of utter fine Silver which is Twentie two Grains above the Standart and one other great Journal of Twentie two Grains below the Standart The essay peice of each Journal being of equal quantitie and both those peices being melted into one Lignat it is evident that the Lignat will be of equal fineness with the Standart and there being perhaps ten times as much coyned in the Journal which is below the Standart as was coyned in the Journal which was above the Standart there will be nine parts of eleven of the Money coyned that will be twentie two Grains below the Standart So that albeit the Lignat be of equal fineness with the Standart yet nine parts of eleven of all the Money coyned in this Kingdom may be below the Standart and probably by that manner

to any other person in publick Office not relating to the publick Government of the Kingdom so neither can it be extended to crimes and abuses committed by the Officers of the Mint For albeit these may be accounted publick Offices in some respect yet they are but privat stations in respect of the Offices that concerns the publick Government of the Kingdom As also the Act of Indemnity bears an exception of all privat Crimes and such-like as never used to be comprehended under general Acts of Indemnity And it appears by the late Act of Indemnity past in the Parliament in the year 1662. That all Crimes not relating to the late troubles are excepted and particularly the Accompts of all such persons as have intrometted with any of his Majesties Revenues and all other publick Money for which they had no other Warrand or Assignment for their own privat use and for which they had not duely compted and received Discharges thereof from such as pretended to have authority for the time to do the samen and all other former Acts of Indemnity made by his Majesties Royal Predecessors are only in relation to the publick troubles that hath been in the Countrey but not at all to any Crimes or malversa●ions that hath been committed by the Kings Officers in their private stations not relating to the publick administration in the Government or to the troubles and disorders of the Countrey and therefore the said Act ought not to be extended to the abuses and malversations committed by the Officers of the Mint far less to debar and preclude his Majesty from tryal and inquiry that his Majesty being informed thereof may give order for better regulating of the Mint and remeeding these abuses in time coming And as to that pretence alledged by the Lord Hatton That he could not be oblieged to Depone upon any thing relating to the Mint because he does not know how far it does reach or what it might import the Commissioners were of the Opinion that this being a matter of Tryal and Inquiry he ought to give Information upon Oath concerning things relating to the Mint and Coynage that was committed to his Trust as the other Officers of the Mint had already done and whatever might be the import thereof he was only desired to give his Oath upon these particulars relating to himself if he was truly innocent and had not malversed in his Trust which is no more but a purgatory Oath that he might purge himself of these Abuses and Malversations which by publick Fame and other Evidences were presumed against him and which was most consonant and agreeable to the common Law and the practise of other Nations and the Laws and Practique of this Kingdom both in Church and State in the like cases especially where the samen is done for His Majesties Information As to the particulars upon which he was desired to give Information upon Oath Relating to the other Officers of the Mint he was only desired to Depone upon the best of his knowledge which was no more but an Oath of Credulity which no man in reason ought to refuse and which is appointed by an express Act of Parliament That all Persons should Declare and Depone upon Oath their knowledge of any Crimes against the Publick Laws under very severe punishment especially seing all the rest of the Officers of the Mint did freely Depone upon all these particulars except the Lord Justice-Clerk conjunct General who was here present only the Lord Hatton makes use of the Act of Indemnity and refuses to Depone And as to that pretence That he was not obliged to Depone in any thing relating to his Office it was frivolous for as every man in Publick Trust is obliged to give his Oath That he shall Faithfully discharge his Trust at the entry to his Office So likewise ought he to give his Oath upon any thing relating to his Office at any time thereafter when ever he is required by his Majesty or any having Commission for that effect And if it were otherwayes that a person in Publick Office should not be obliged to Depone concerning his actings in that Office then any man in Publick Office might commit the greatest Abuses Malversations Injustice Oppressions and all other hainous Crimes without control providing he could do it privatly that it could not be otherways proven but by his own Oath and that would invite men in Publick Trust to commit all Acts of Malversation and Injustice imaginable if they were not obliged to Depone upon their Actings in that Office and purge themselves of any Crimes that may be laid to their charge For these Reasons and in obedience to His Majesties Royal Commands by His Commission The Commissioners having proceeded to the Tryal and Inquiry and considered the Depositions of the Master and other Officers and Servants of the Mint and the Books Papers and other Evidences adduced It did appear First That albeit His Majesty and His Royal Predecessors Have always had a special care to provide Bullion for increasing and maintaining of the Stock of Coynage in the Kingdom and that it is expresly provided by Act of Parliament That the Goods and Merchandise imported by the Merchants should pay so many ounce of Bullion or otherways pay twelve shilling Scots for every ounce in place thereof the Generals and Master of the Mint being ordained to Import the Stock of Bullion themselves and Coyn the same for His Majesties use And albeit there has been considerable Sums of Money payed by the Merchants to the Officers of the Mint in place of Bullion there has been but a small quantity of Bullion Imported by them and in place thereof great quantities of the Money current in the Kingdom has been melted down to the great prejudice of the Leidges and contrair to many express Acts of Parliament By which it is Declared That in respect Silver and Gold put in the Fire to be made Bullion to other new Money is diminished wasted and destroyed in the Translation by the Fire and incurs great skaith in hurt of the King and all his Liedges Therefore it is Statute That neither Silver nor Gold that bears Print and form of Coyn be any ways melted or put in the Fire by the King's Coyners without special licence of the King but all Gold and Silver that is Coyned and ha● Print to be observed and holden whole among the King's Liedges as he ordained it to have course and the contraveeners of the Law to be punished with the Confiscation of the half of his Goods for the first and of his whole Goods for the second fault And likewise the Generals and Master of the Mint have divided amongst themselves the benefit of the twelve shilling Scots payed in to the Mint by the Merchants and so have failed in their Trust to advance their own privat gain As also His Majesty out of his Princely care for the good of his Subjects increasing of the Money in