a discourse of coin and coinage-第11章

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your　own　Money；　it　will　be　impossible　to　transports　your　own
Money　for　profit　to　bring　it　back　coyned　in　Spanish　Money。　Others
have　propounded　that　the　Spanish　Money　both　of　Gold　and　Silver
should　be　made　current　by　the　piece；　allowing　an　over…value　unto
it　both　for　the　Coinage　and　the　King's　Tribute　equal　unto　our
own；　but　that　being　of　a　weight　allowable；　it　should　receive　the
addition　of　a　new　stamp　at　the　King's　Mint；　for　which　the　King
should　receive　upon　the　pound；　so　much　as　his　own　clear　Profit
amounts　unto　upon　his　own　coin；　and　the　Merchants　in　the　currency
of　the　pieces　should　have　allowance　of　so　much　as　the　charge　of
the　Coinage　amounts　unto。　But　this　inconvenience　would　probably
happen　in　this　Proposition；　that　if　the　pieces　that　should　have
the　Addition　of　the　stamp　unto　them；　were　made　current　at　a
price；　the　people　would　likewise　receive　those　that　had　not　the
said　Addition　at　the　same　price。

Chapter　10

Of　the　unequal　Coinage　of　our　Moneys

　　　　This　Title　doth　wholly　depend　upon　the　Mechanical　part　of
making　Money；　which　because　I　am　unskilful　in；　I　do　handle　with
much　scruple　and　retention；　being　forced　to　apply　my　self　to　what
I　read　in　others；　and　peradventure　may　in　some　points
misunderstand；　yet　because　this　is　a　very　main　and　principal
cause　of　the　exportation　of　Money　I　cannot　omit　it：　And　the　first
cause　of　the　unequality　of　the　coinage；　is　the　greatness　of　the
Remedies　both　of　the　weight　and　fineness：　and　I　do　find　that　some
men　of　great　experience　and　understanding　even　in　this　Mechanical
part　do　hold；　that　the　Money　both　of　Gold　and　Silver　may　be　made
without　any　Remedy　to　be　allowed　either　for　weight　or　fineness。
This　I　am　sure　that　it　doth　appear　by　the　Records　of　former
times；　that　the　Remedies　allowed　have　been　many　times　less　than
now　they　are；　and　have　been　heretofore　very　variable　according　to
the　favour　or　the　skill　which　the　Masters　of　the　Mint　did　use　to
make　their　own　Advantage：　since　Henry　VIIths　time；　the　Mint
Masters　have　bin　tied　to　account　to　the　King　for　half　the　Profits
of　the　Remedies　allowed；　by　which　means　it　is　manifest　that　half
the　Remedies　allowed　might　be　cut　off；　and　the　Kings　profits
might　be　better　recompenced　upon　the　price　of　the　Coinage。　By　the
Indentures　of　the　Second　of　King　James；　the　Officers　of　the　Mint
are　tied　to　account　to　the　King　for　the　whole　profit　of　the
Remedies；　but　then　there　is　a　clause　that　the　King　shall　give
them　allowance　for　so　much　as　they　shall　over…put　above　the
standard；　which　clause　seemeth　to　me　very　captious：　But　if　all
the　inequality　of　the　Moneys　coined　did　consist　in　the　Remedies；
the　matter　were　not　so　much；　but　the　great　profit　which　hath　been
made　by　culling　of　the　Coins　by　Goldsmiths　and　Cashiers　to
Merchants　and　others；　through　whose　hands　great　Sums　of　Money　do
pass；　doth　manifestly　prove　that　the　inequality　of　the　Moneys　is
much　greater　than　the　allowance　of　the　Remedies　can　make　it；　yet
when　I　consider　upon　what　great　Penalties　the　Mint　Master　is
tied；　how　exact　a　Course　is　set　down　by　his　Indenture；　and
observ'd　for　the　Examination　and　Trial　of　his　work；　I　cannot
imagine　much　less　find　out；　where　the　Error　lieth；　but　that　there
is　an　Error；　and　such　an　one　as　deserveth　strict　Enquiry　and
Redress　by　the　State；　I　am　verily　perswaded。　The　Mint　Master
knoweth　exactly　how　many　pieces　he　is　to　sheer　out　of　every　pound
weight；　but　whether　these　pieces　are　shorn　so　equal　to　one
another　in　weight；　as　there　shall　be　no　advantage　in　culling　out
the　heaviest　from　the　lightest；　that　is　the　Scruple：　The　course
is　this；　out　of　every　proportion　of　Silver　and　Gold　coined；　there
is　a　piece　taken　at　adventure；　by　certain　Officers　trusted；　and
put　into　a　Pix　under　their　several　Keys；　and　then　at　the　years
end；　this　Pix　is　opened　in　the　Star　Chamber；　and　telling　out　so
many　pieces　as　are　to　make　a　pound；　they　melt　them　and　examine
whether　they　hold　the　weight　and　fineness；　within　the　Remedies
required；　which　Course　for　the　examination　of　the　Fineness
seemeth　exact　enough；　but　for　the　weight　it　may　fall　out　that　the
pieces　taken　out　of　the　several　Proportions　of　Money　coined；
being　melted　together　may　hold　the　weight　required　within　the
Remedies；　and　yet　the　pieces　of　those　several　Proportions　may
differ　in　weight　from　one　another；　more　than　the　Remedy　allowed。
The　Remedies　that　are　propounded　for　this　inequality　are　divers：
　　　　Some　think　that　it　may　be　redressed　by　a　strict　and　severe
Course　to　be　held　with　all　those；　through　whose　hands　the　work
doth　pass　for　the　perfection　of　their　works。
　　　　Others　are　much　pleased　with　belief　of　some　invented　Engines；
which　have　been　by　some　work…men　offered　for　a　more　perfect　and
exact　coining　of　Moneys；　than　can　be　performed　by　the　stamp；　and
the　ways　that　are　now　practised。
　　　　Others　find　no　so　good　way　as　by　the　Mill；　whereof　divers
experiments　have　been　made　both　in　this　Kingdom　and　in　other
parts。　Of　which；　because　I　dare　in　my　self　deliver　no　Opinion；　I
will　only　translate　what　I　find　written　by　a　French　Author；　a　man
of　great　practice　and　experience　in　these　Mysteries；　but　because
in　some　places　he　hath　words　of　Art　which　admit　of　no
translation；　I　must　be　fain　use　the　original　Terms：　He　saith；
That　against　the　Establishment　of　the　Mill　it　is　objected；　that
after　the　Invention　of　it；　by　reason　of　the　great　clipping　that
belongs　to　it；　the　Conductor　of　it　was　of　Necessity　to　have　an
Augmentation　for　the　Workmanship。
　　　　2。　That　the　Ressorts；　and　Wheels；　and　Squares　and　Pieces；　by
which　it　is　governed；　are　very　subject　to　break　and　bruise　one
another。
　　　　3。　That　it　wants　Expedition；　and　dispatches　but　a　little
work。
　　　　4。　That　makers　of　false　Money　will　easily　counterfeit　it。
　　　　5。　That　no　man　will　undertake　to　make　Money　with　the　Mill；
but　at　the　same　price　which　is　paid　for　the　marks　for　Silver
Counters　made　with　a　Mill。
　　　　To　which　fie　objections　I　answer。
　　　　1。　That　the　quantity　of　Clipping　Mill　Money；　is　no　loss　to
the　Farmer　nor　to　the　Workman；　and　is　done　without　pain；　charge
or　travel；　besides　the　Charge　of　the　wasting　is　taken　away；　which
is　both　an　expence　to　the　Master　and　to　the　Farmer：　That　the
augmentation　for　the　workmanship　was　not　allowed　for　the　new
melting　of　the　Clippings；　but　because　there　was　no　reason　that
the　Masters　of　the　Mill　should　without　recompence　give　those
several　fashions　to　the　work；　which　the　work…man　is　paid　for；　and
hath　3　sols　allowed　him　upon　the　mark；　and　besides　furnish　great
Cizers；　three　sorts　of　Hammers；　Anvil　and　other　Instruments。　Now
the　Money　being　made　in　the　Mill　by　the　industry　of　the　Master
who　doth　give　other　like　fashions　to　the　work；　as　the　Minters　now
do；　it　was　but　reason　to　attribute　the　same　right　unto　him。　And
in　those　places　where　Mill…Money　hath　remained　in　use；　as　at　Pau
and　at　Bearne；　the　fee　of　the　work…man　is　attributed　to　the
Master　of　the　Mill；　as　likewise　of　the　Carver　and　Graver；　and
that　very　justly。
　　　　2。　For　the　Second　Objection；　that　the　Ressorts；　Wheels；
Squares；　etc。　are　subject　to　breaking；　It　may　be　answered　that　at
the　new　setting　up　of　the　first　Mills；　the　Artisans　were　not　so
perfect　and　expert　as　they　have　shewed　themselves　since　by
Practice；　since　the　Mills　are　grown　common　as　now　they　are：　There
is　nothing　harder　than　to　invent；　nor　more　easie　than　to　adde　to
things　invented。　There　are　Mills　set　up　not　only　at　Paris；　but　at
Lyons；　Tholouse；　Aix；　Amiens；　Nants；　Bordeaux；　Poitiers；　so　that
the　use　of　them　is　now　universal；　for　the　Coinage　doubles　base
and　abject　Money。
　　　　3。　For　the　third　Objection；　That　there　is　no　Expedition　in
Mills；　and　that　the　work　is　not　so　soon　dispatched　as　with　the
Hammer：　It　shall　suffice　to　answer；　That　it　proceeds　from　a　Man
that　hath　no　experience　in　this　Subject　of　Money；　because　that
four　Men　bred　and　used　to　the　making　of　Money　in　a　Mill　will　do
more　work　than　twelve　work…men　or　Moneyers　with　the　Hammer。
　　　　4。　For　the　fourth　Objection；　That　the　Counterfeiter　of　Money
will　imitate　the　Money　made　in　a　Mill：　this　objection　were
credible　if　the　author　could　produce　one　piece　of　Silver　or　Gold
made　in　the　Mill　counterfeited　since　the　Introduction　thereof