The Fourth General Head is to propose the Means that must be Obtained, and the proper Methods to be used in and for the

IN Case his Majesty (taking into His Princely Consideration the great Inconveniencies which the Nation Labours under by the badness of the Moneys) shall be pleased to Direct, That all such Silver Coins called Crowns, Half-Crowns, Shillings or Testers, as have been formerly Coin’d in the Royal Mint, or Mints of England with the Hammer, and are more or less Diminished by Clipping, Rounding, Filing, or any other Artifice, shall be Melted and Re-Coin’d, my humble Opinion is, That the General Cautions following are to be Observed;

First, That the Work ought to be Performed and Finished in as little time as may be, not only to Obviate a further Damage by Clipping in the interim, but also that the needful Advantages of the New Money may be the sooner Obtained for the Service of the Nation.

Secondly, That the loss, or the greatest part of it ought to be born by the Publick, and not by Particulars, who being very Numerous will be prejudiced against a Reformation for the Publick Benefit, if it is to be Effected at the Cost of particular Men, and who have great hopes of being Indemnified by the Votes Passed in their favour in the last Session of Parliament.

Thirdly, This whole Affair must be rendered Easie, and very Intelligible to the Common People, so that they must not be compelled to Travel very far when they part with their Clipt Money, or when they receive back the Value of it in the New Coins; and in the mean time they must be furnished with a Useful and Transferrable Credit that must take Place in Course of Repayment, as fast as the New Coins can be made.

Fourthly, That no room must be left for Jealousie. And therefore all the Clipt Moneys in the several Counties, far or near, are not to be brought entirely to London, to be Minted there; which would leave all the Countries very bare, and create great Suspicions till its Return.

Fifthly, That as soon as the King’s Officers begin to take in the Clipt Moneys, or presently after, the Course for Repaying the Stated Value thereof in New Moneys ought to begin also, and to be Carried on by the New Moneys, which shall be Coin’d from the Silver of the Old, so far as it will Extend; And that an Aid be given in Parliament to Supply the residue, in such time and manner, as that there be no Interruption or Intervals in the Course of Repayment, till such times as the Registers for the Clipt Moneys to be brought in shall be fully satisfied.

According to these General Propositions, and some other Requisites which have Occurred to me, I have imployed my Thoughts to Reduce this whole Affair into Practice, and do humbly Offer to your Lordships Consideration the Particulars following, as the Scope and Design of my Report: That is to say,

First, That an Aid be granted in Parliament, and strictly Appropriated for or towards the making good of the Loss by the said Clipt Moneys, or so much thereof as shall be thought Reasonable to be Defrayed by the Publick, and the incident Charges which shall be necessary in the Performance of this Service. Which Aid, if it be Commensurate to the whole Loss, will, by Estimation, as above, Amount to Fifteen hundred thousand Pounds; and if it be Resolved that the Publick shall bear but half the Loss, or any other part of it, then the Aid (in the grant thereof) may be proportioned accordingly. And the said Aid is humbly proposed to be either by a Land Tax of Twelve Pence in the Pound, or by a yearly Sum to be Answered out of the continued Impositions upon Goods imported, or some other certain Fund, to take Effect within a year to come at the farthest.

Secondly, That all the New Moneys, whether they be Gold or Silver, shall in the Coining thereof be made in Fineness or Purity, according to the present Standard, that is to say, the Gold to be Twenty two Carats Fine and Two Carats Allay: And the Silver Coins to be Eleven Ounces Two Peny Weight Fine, and Eighteen Peny Weight Allay, for the Reasons above given.

Thirdly, That every Pound Weight Troy of such Gold, shall be cut into Eighty nine Half Guineas, or Fourty four Guineas and an Half, or proportionably for greater Pieces, as the same ought to be by the present Indenture of the Mint; with a Remedy for the Master, of the Sixth Part of a Carat, in Case the Gold be found too strong or too feeble in Weight, or in Fineness, or in both. And that every Pound Weight Troy, of the New Silver Moneys, to be made as aforesaid, be cut into such Numbers of Pieces as will correspond in Weight with the Undiminished Crowns, Half-Crowns, Shillings, Six-pences, Groats, Three-pences, Two-pences and Pence, Coin’d by the late Indentures, except the Twelve Peny Pieces, all which may be performed, as is above offered. And that the Master be allowed a Remedy of Two Peny Weight in every Pound Weight Troy, of the Silver Moneys, in case they be found too strong or too feeble in Weight, or in Fineness, or in both.

Fourthly, That by Authority of Parliament, or by a Royal Proclamation to be Grounded on an Act of Parliament, the Silver Crowns, Half-Crowns, Shillings and Six-pences of the Lawful Coins of this Realm now in being, and not Diminished by Clipping, Rounding, Filing, Washing, or other Artifice, be Publicly Cried up, and Raised to the Foot of Seventy five Pence for the Crown, and proportionably for the rest, as I have also proposed; and that the other small Pieces of the Old Coins (which are few in number) go as they do at present. And that the New Coins to be called the Sceptre, or Unite, the Half-Sceptre, or Half-Unite, the Testoon or Fifteen Peny Piece, the Shilling or Twelve Peny Piece, the Half-Testoon, the Gross or Five Peny Piece, Quarter-Testoon, the Half-Gross and Prime be made Currant upon the same Foot, as I have also proposed, Pag. 61, &c.

Fifthly, That Coin, as well as English Bullion, not exceeding a limited Sum yearly, may be Exported for the Service of the present War by His Majesty’s Warrant and Command, and not otherwise; which will help to keep down the Price of Silver.

Sixthly, That all the New Moneys be made by the Mill and the Press, and not by the Hammer.

Seventhly, That all the present Silver Pieces called Crowns, Half-Crowns, Shillings and Six-pences of the Hammer’d kind, which are Diminished by Clipping, Rounding, Filing, Washing, or other Artifice, be Cried down, so as not to be Currant after a Day to be prefix’d. And that no Person whatsoever shall hereafter be obliged to accept in Legal Payment any Money whatsoever that is already Clipt, or may hereafter be Clipt or Diminished; and that no Person shall Tender or Receive any such Money in Payment under some small Penalty, to be made easily Recoverable; the Passing, Selling, or Changing of such Clipt or Diminished Moneys, in Order to the Re-Coining thereof, as is herein after mentioned, only Excepted.

Eighthly, That no Crown Piece (of Old Hammer’d Money) shall be said or alledged to be Clipt or Diminished, or be Refused as such in any Payments whatsoever if it hold Eighteen Peny Weight; and proportionable Weight shall render the Half-Crowns, Shillings and Six-pences of the said Hammer’d kind to be Currant in all Payments; which seems necessary, because of the wearing of the Old Pieces, though they are not Clipt.

Ninthly, That besides the Principal Mint within the Tower of London (where Six Presses can be wrought at the same time) there be Settled and Established Nine other Mints within England and Wales, to Work with Two Presses in each, Namely, One at Newcastle upon Tyne, to serve principally for the Counties of Durham, Northumberland, Cumberland, and Westmoreland: One at York to serve for the Counties of York and Lancaster: One at Nottingham to serve for the Counties of Nottingham, Lincoln, Derby and Leicester: One at Chester to serve for Cheshire, Staffordshire, Salop, and North Wales: One at Hereford to serve for the Counties of Hereford, Gloucester, Worcester, and South Wales: One at Exeter to serve for Cornwall, Devon, and Somerset: One at Salisbury to serve for the Counties of Wilts, Dorset, and Hantshire: One at Oxon, to serve for the Counties of Oxon, Bucks, Warwick, and Berks; And One at Cambridge to serve for Norfolk, Suffolk, Huntingdon, Cambridge, and Bedfordshire: and that at London will serve for the rest. Nevertheless these several Mints are not intended to be so Restrained but that a Man may carry his Money to any of them that lies most in his way; whereby there may be Coined Weekly (as I am inform’d) about Fifty or Sixty thousand Pounds easily, which will finish the whole Work in much less than a Years time. And that the Dyes, Presses and other Implements may be providing with as much haste as is possible, so as to be all fit for Use by or before Christmas next.

Tenthly, That the Warden, Master Worker, Comptroller, and Assay-Master of the Mint do continue at the Tower, and take the immediate Care of the Work there: And that they Substitute Fit and Skilful Persons as their Deputies (such as the King, or the Lord Treasurer, or Commissioners of the Treasury for the time being, shall approve of, and such as must be Answer’d for by their respective Superiors) to Carry on the Works of the said Nine Mints in the Countrey; which Substitutes shall be all Sworn, for the faithful Discharge of their respective Trust; and that the Members of the Corporation of the Moneyers, and other Ministers, Officers, and Servants, be distributed accordingly, and small Private Marks (if thought fit) may be made to distinguish the Money that shall be Coin’d at the respective Mints.

Eleventhly, That the Charge of making every Pound Weight Troy of Silver Moneys, which at present is One Shilling and Four Pence Half-peny, be made more Reasonable, now so much is to be Coin’d and Re-Coin’d.

Twelfthly, That at or near every Town or Place where there shall be a Distinct Mint Established, as aforesaid, there shall be also Settled and Fixt an Office, which shall be, and be called An Office of the Kings Change; and the Chief Officer therein (to be Named by His Majesty, or the Lord Treasurer, or Commissioners of the Treasury for the time being) shall be called The Kings Changer; and that these Changers shall have Tellers or Substitutes under them. And they, as well as their Substitutes, shall be Sworn for the Due and Just Execution of their respective Trusts, with regard not only to the King, but also to every Person that shall have to do with them in respect of their places.

Thirteenthly, The said Officer called The Changer, with such Tellers or Substitutes as shall be necessary, shall daily and every Day (Sundays only excepted) attend at the Publick Office whereunto he or they shall be Assigned, or at some other Market Town within the Counties of his District; and when he is to attend at such other Market Town, he shall cause the same to be Publickly Notified there, by Affixing a Paper in some open Place in the Market next preceding; and at the said Publick Office, or at such other Market Towns, as aforesaid, the said Changer by himself, or by his Tellers or Substitutes, shall Receive and Take in all such Clipt or Diminished Money as are beforementioned, as any Person or Persons shall bring to him in order to be Re-coin’d; and in Performance of his Office or Duty, he or they shall be holden to Observe the Rules following.