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    A Select Collection of Scarce and Valuable Tracts on Money

    Rule IV.

    John Ramsay McCulloch (ed.)

    3 min

    “WHEREAS the said Clipt Moneys, so to be brought in, do retain very different and uncertain Weights and Sizes, as they are more or less Clipt; and it is evident that a Clipt Crown, holding more than Twelve Peny Weight and Twelve Grains, will produce more than Five Shillings in New Money if it should be Changed by it self at Eight Shillings an Ounce; and an Half-Crown holding more than Six Peny Weight and Six Grains, will (if it were Changed by it self for Eight Shillings an Ounce) produce more than Two Shillings and an Half in the New Money; and the like may be said of the Old Shillings and Six-pences not Clipt to a lower Degree in Proportion. I have Considered (although the Government would not suffer in this Case) that Goldsmiths and other Subtil Dealers in Money, will be very apt (if an effectual Remedy be not Provided against their Artifices) to Cull out the Heaviest of their Clipt Pieces, and to get such into their Hands from their Neighbours, to Change them at Eight Shillings an Ounce, and thereby Gain for them more New Moneys in Tale than ever they Amounted to in their old Denominations. And in regard One hundred Pounds by Tale of the said Clipt Moneys, holding in Weight Two hundred and fifty Ounces Troy, when it is Changed at the said Rate of Eight Shillings an Ounce, will produce One hundred Pounds in Tale of the said New Moneys; therefore it is Proposed, That every Person who brings any Clipt or Diminished Moneys to be Changed, as aforesaid, shall be obliged to mingle so many of his lighter Pieces with his heavier Pieces, as that upon the Draught or Weighing of them together, they may not at the said Rate of Eight Shillings an Ounce fetch more of the New Moneys in Tale than the said Clipt Money was Coined for in its Old Denominations, that is to say, One hundred Pounds by Tale of such Clipt Moneys, shall be so mingled with heavier and lighter Pieces as that it shall not exceed Two hundred and fifty Ounces in Weight; and every other Sum of Clipt Money shall be restrained to the same proportion: This will effectually prevent the said trick of Culling, and create little or no Difficulty in Practice, because amongst all the Clipt Moneys, those which might be converted to the Advantage above-mentioned are few in comparison of the rest, and a Sum consisting only of such Weighty Pieces will not in probability ever be brought to the Changers by any, but by Crafty or Designing Men. And by this device your Lordships may be pleased to take notice that there will be no need of Weighing every individual Piece, which (as I think) would render the Work endless and impossible. The Changer, or his Substitute, when he shall have carefully Counted and Weighed the said Clipt Money (observing the Caution aforesaid) shall compute the Value to be paid for the same, at the said Rate of Eight Shillings an Ounce, and enter into a Leger Book to be kept for this purpose, the Day, Month and Year of his Receipt thereof, the Name of the Person that brings it, the Sum of the Clipt Money told, the exact Weight thereof, and the said Value which is to be paid for the same in New Moneys in several Columes to be made for that purpose, for which Value a Bill or Ticket is to be given, as is after-mentioned.