APPENDIX VIII
Searching among the pamphlets of the Halliday Collection at the Royal Irish Academy, Dublin, I came across a tract of twelve pages, printed by John Whaley of Dublin in 1723, with the following t.i.tle:
"The Patentee"s Computation of Ireland, in a Letter from the Author of the Whitehall Evening-Post concerning the making of Copper-Coin. As also the Case and Address of both Houses of Parliament together with His Majesty"s Most Gracious Answer to the House of Lords Address."
The writer of this tract in defence of the patent maintained the following propositions:
(1) That the Kingdom of Ireland wants a Copper Coin.
(2) That the quant.i.ty of this coin will be no inconvenience to it.
(3) That it is better than ever the Kingdom had, and as good as (in all probability) they ever will or can have, and that the Patentee"s profit is not extravagant, as commonly reported.
(4) That the Kingdom will lose nothing by this coin.
(5) That the public in Ireland will gain considerably by it, if they please.
(6) That the Kingdom will have 100,000 additional cash.
As he states his arguments, they are quite reasonable. On proposition three, if his figures are correct, he is especially convincing. He details the cost of manufacture thus:
_s. d._ Copper prepared for the coinage at his Majesty"s Mint at the Tower of London, costs per pound weight 1 6
Coinage of one pound weight 3-1/2
Waste and charge of re-melting 1
Yearly payment to the Exchequer and Comptroller 1
Allowed to the purchaser for exchange, &c. 5
Total charge 2 4-1/2
"So that the patentee," he concludes, "makes a profit of only 1-1/2_d._ in the half crown or about 5%."
The tract, however, is more interesting for the reprint it gives of the twenty-eight articles stated by the people in objection to the patent and the coin. I give these articles in full:
IRELAND"S CASE HUMBLY PRESENTED TO THE HONOURABLE THE KNIGHTS, CITIZENS, AND BURGESSES IN PARLIAMENT a.s.sEMBLED
MOST HUMBLY SHEWETH,
Whereas your Honours finding the late Grant or Letters Patents obtained by Mr. William Wood, for making Three Hundred and Sixty Tun weight of copper half-pence for the Kingdom of Ireland, were to be manufactured in London &c. which money is now coining in Bristol, and that the said money was to weigh two shillings and sixpence in each pound weight, and that change was to be uttered or pa.s.sed for all such as were pleased to take the same in this Kingdom.
That it"s humbly conceived Your Honours on considering the following Remarks, will find the permitting such change to pa.s.s, exceeding Injurious and Destructive to the Nation.
First. That the same will be a means to drain this Kingdom of all its Gold and Silver, and ten, fifteen, or twenty per cent abated, will most effectually do the same.
2d. That the making such money in England will give great room for counterfeiting that coin, as well in this Kingdom, as where it is made.
3d. That the Copper Mines of this Island which might be manufactured in the nation, is by management shipped off to England by some persons at, or about forty shillings per tun, by others at four pounds and six pounds per ton, which copper when smelted and refined is sold and sent back to this kingdom at two shillings and six pence per pound weight as aforesaid, which is two hundred and eighty pound sterl. per ton.
4th. That two shillings and sixpence per pound weight is making the said coin of very small value, the said coin ought not to weigh or exceed two shillings in each pound weight as the English Halfpence are.
5th. That all such money brought to this Nation manufactured, is to be entered at value, which value is in the Book of Rates, ten per cent duty and excise.
6th. That no security is given to this Nation to make such money in any one point, the same may be found defective in either, as to baseness of metal, workmanship or weight, or to give gold and silver for the same, when the subject was, or may be burthened therewith.
7th. That if such monies as aforesaid be permitted to pa.s.s in this nation, all persons that have gold or silver by them would not part therewith, but Bra.s.s money must be carried from House to House on Truckles, and in the county by carts and horses, with troops to guard them.
8th. That such money will raise the price of all commodities from abroad, probably to three or four hundred per cent.
9th. That linen, yarn, beef, b.u.t.ter, tallow, hides and all other commodities, will raise to that degree by being bought with half-pence, and workmen paid with bra.s.s money, that commissions from abroad will not reach them, therefore such goods must lie on hands and remain a drugg.
10th. That the excise of beer, ale, brandy, &c., and hearth-money will be paid in such coin, the same falling first into the hands of the poor and middling people.
11th. That if any trouble should happen in this nation, no army could be raised with such specie, but an enemy in all appearance would be admitted with their gold and silver, and which would drive the nation before them.
12th. The Courts of Law could not subsist, for all the suits there must be supported and maintained with ready money. Viz. Gold and Silver.
13th. That all the bankers must shut up their shops, no lodgment would be made except Halfpence, such as would lodge their money with them, would rather draw off and cause a run on them, fearing that their specie should be turned into the said bra.s.s and copper money.
14th. That such bills as are drawn to the country, viz. Cork, Limerick, Waterford, Kingsale, Deny, &c. The Exchange would be instead of a quarter per cent, twenty per cent and then paid in the said Bra.s.s specie, by means of its being brought on cars, carts, or waggons, and guards to attend the same.
15th. That all the rent in the Kingdom would be paid in half-pence; no man would give gold or silver, when he had bra.s.s money to pay the same.
16th. That no one can coin or manufacture such a quant.i.ty of halfpence or farthings for this Kingdom, out of the same, but either he must be ruined in the undertaking or the nation undone by his project, in taking such light money, by reason of ten per cent, duty, and probably this session be made twenty or thirty per cent duty, and the exchange nine or ten per cent. Ten per cent abated to circulate them. Ten per cent factorage, freight, gabberage, key-porters, &c. all which is forty per cent, charged on the same.
17th. That if the said Wood was obliged to make his light money not to exceed two shillings in the pound weight according to the English coin, he would give up such grant, for six pence in each pound weight is 25 per cent.
18th. That the said twenty-five per cent is 19,360_l._ sterl. on the said 360 ton of copper, loss to this nation, by being coined out of this Kingdom, besides 80,690_l._ of gold and silver sent out of the Kingdom for bra.s.s or copper money.
19th. That the copper mines of this Kingdom is believed to be the metal such copper is made of, which verifies the English saying, That Irish people are wild, that would part with 200,000_l._ sterl. of their gold and silver, for their own copper mines, which cost them not one pound sterl.
20th. That the said Wood"s factors probably may send in fourteen years double the quant.i.ty of copper which is 720 ton, then this Kingdom loses 38,720_l._ sterl. and parts with 161,280_l._ sterl. of their gold and silver for almost nothing.
21st. If any great sum was to be raised by this nation, on any emergency extraordinary, to serve his Majesty and his Kingdom how would it be possible to do the same; copper half-pence would not stem the tide, no silver now to be had of value, then no gold to be seen.
22d. That England also must be a great loser by such money, by reason the said half-pence being from 20 to 40 grains lighter and less in value than their own, so that the same will not pa.s.s in that Kingdom scarce for farthings a piece, how then shall the vast quant.i.ties of goods be paid for, that are brought from that Kingdom here, a considerable part of this island must be broke and run away for want of silver and gold to pay them their debts.