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+*** START OF THE PROJECT GUTENBERG EBOOK 78741 ***
+
+
+
+
+Transcriber’s Notes:
+
+  Underscores “_” before and after a word or phrase indicate _italics_
+    in the original text.
+  Equal signs “=” before and after a word or phrase indicate =bold=
+    in the original text.
+  Small capitals have been converted to SOLID capitals.
+  Footnotes and illustrations have been moved so they do not break up
+    paragraphs.
+  Deprecated spellings have been preserved.
+  Typographical and punctuation errors have been silently corrected.
+
+
+
+
+                            THE ROYAL MINT:
+
+                _=Its Working, Conduct, and Operations,
+                   Fully and Practically Explained;=_
+
+                                  WITH
+     SUGGESTIONS FOR ITS BETTER SCIENTIFIC AND OFFICIAL MANAGEMENT.
+         RE-WRITTEN, ENLARGED, AND REVISED TO THE PRESENT TIME.
+                   TO WHICH IS ADDED, AS AN APPENDIX,
+
+        A LETTER ADDRESSED TO THE RIGHT HON. LORD KINNAIRD, K.T.
+
+                      BY GEORGE FREDERICK ANSELL,
+                          ANALYTICAL CHEMIST.
+                        LATE OF THE ROYAL MINT,
+              FORMERLY OF THE ROYAL COLLEGE OF CHEMISTRY.
+
+                     _ILLUSTRATED WITH ENGRAVINGS._
+
+      “To have a thing is little if you’re not allowed to show it;
+    And to know a thing is nothing unless others know you know it.”
+
+                              LORD NEAVES.
+
+                             THIRD EDITION.
+
+                             [Illustration]
+
+                                LONDON:
+                   EFFINGHAM WILSON, ROYAL EXCHANGE.
+                                 1871.
+
+      _Entered at Stationers’ Hall._]      [_All rights reserved._
+
+
+                                           Ipswich, _March 1st, 1871_.
+    DEAR MR. ANSELL,
+
+I have no objection to your appending to the third edition of your book
+your letter to me in regard to your case, and my correspondence with
+Mr. Gladstone and the Chancellor of the Exchequer, but if you add in
+addition to this correspondence the report of the debate on my motion
+for a committee to inquire into the management of the Mint, I should
+wish to make some few remarks on the subject in question; but before
+doing so I must take the opportunity of thanking you for letting me see
+Mr. Fremantle’s letter in answer to your offer, made at my suggestion,
+to meet Mr. Fremantle with a view to rendering him some assistance
+(which from your great experience you are well able to do) in the
+management of the Mint, which I have reason to know both he and Mr.
+Lowe find _somewhat difficult_.
+
+The answer is evidently dictated by Mr. Lowe. After his letter[1] to
+me of the 29th April, 1869, I might have known that he was not likely
+to do anything which might appear as if he owned himself in the wrong.
+This letter, indeed, showed how annoyed Mr. Lowe was at my having seen
+that most malicious report to the Treasury by Dr. Graham, which has
+been the cause of your having been so unjustly dealt with, to the ruin,
+in a great measure, of your prospects in life. Dr. Lyon Playfair at the
+time threatened that if I moved to inquire into the management of the
+Mint, he would move that that report be laid on the table of the House.
+This would not have deterred me, as the report _itself_ would have been
+the best refutation of the _insinuation_ it contained that you were
+dismissed because you were guilty of the Mint practice of purloining
+gold (whereas the note[2] relieving you from further attendance stated
+that the short work at the Mint was the cause). Dr. Graham did not,
+he said, believe the insinuation, and to show that he did not believe
+it, although he had sent in the report to the Treasury, he authorised
+me to offer you the situation (at an increased salary) filled by Mr.
+Goodwin, who was to be retired, which of course you refused as being
+far inferior to the one you held; and in further proof he wrote you
+that handsome testimonial[3] which I read to the House of Lords.
+
+[Footnote 1: See page 196.]
+
+[Footnote 2: See page 186.]
+
+[Footnote 3: See page 198.]
+
+The report, however, _had served its purpose_ in preventing you from
+being appointed to an office in the Mint.
+
+I am sure Dr. Graham regretted that he had been induced by his brother,
+whose animus against you was known throughout the Mint, to send in such
+a report to the Treasury. Dr. Lyon Playfair’s threat, as I have said,
+would not have deterred me from moving for a committee to inquire into
+the malpractices of the Mint, but I confess that I had great scruples
+in regard to Dr. Graham himself. I shall never forget the expression of
+his face, and the fearful agitation the mention of my intention always
+caused.
+
+I confess I did hesitate to place a man of Dr. Graham’s great
+scientific attainments in such a position as an inquiry would have
+done, seeing also that his brother was just dead, and that I knew
+individually Dr. Graham was in no way implicated in the malpractices
+which formerly prevailed in the Mint; for, as you know, Dr. Graham
+had soon after his appointment set to work to clear out that “Augean
+stable,” which, with your assistance, he had almost accomplished till
+in an evil moment he appointed his brother, to whose intemperate habits
+I referred in the House of Lords,[4] to a responsible office in the
+Mint.
+
+Dr. Graham’s death following so soon after that of his brother, I was
+greatly rejoiced at having delayed bringing the subject of the Mint
+before Parliament, because I should have felt that I had been to some
+extent instrumental in hastening that event by drawing attention to the
+state of that Department.
+
+On the occasion of the reading to me, by Dr. Lyon Playfair, of that
+wicked report to the Treasury (to which I have previously alluded),
+in the presence of Dr. Graham and of Mr. C. W. Fremantle, I urged, as
+Dr. Graham exculpated you from all blame _insinuated_ by the report,
+that in common justice you should be reinstated in some office in the
+Mint, you having, with my advice, refused the position offered by Dr.
+Graham through me, when Mr. Fremantle remarked as a reason against
+your being appointed that “you were so unpopular with the officials;”
+such unpopularity being in my opinion the natural result of the work
+you had done at the request of Dr. Graham, and in the service of the
+Mint. I say the work you had done, and use the expression on the
+authority of Dr. Graham, copies of whose letters to the Treasury are
+now in my possession, and in which he distinctly states that to you
+mostly were due the reforms. There is no doubt, therefore, but that
+you were exceedingly unpopular just in the sense that a detective
+would be amongst the “light-fingered gentry,” and had I obtained the
+committee for which I moved I could have shown the true grounds of
+your unpopularity. I have collected some further valuable information
+showing the necessity for a rigid and full inquiry into the affairs of
+the Mint, which will show that the officials of a public department
+are not justified in putting into the hands of a young and rising
+member of the House of Lords statements which are not only erroneous,
+but absolutely false, so that Lord Lansdowne was obliged to declare
+that “he had on a previous occasion overstated the amount in regard to
+the profit on silver;”[5] but again was he grossly misled by the Mint
+officials when he stated “that there was a gain of £5,000 per annum
+on the silver coinage”[6] (a considerable reduction on the former
+statement) while the _return_ showed a positive and very great loss. It
+would appear that the Mint officials mystify him, and that _he_, not
+_I_, confuse two things.
+
+[Footnote 4: See page 197.]
+
+[Footnote 5: See page 146-148.]
+
+[Footnote 6: See page 148-149.]
+
+I alluded in the House to a job by Mr. Lowe in appointing Mr. Roberts,
+and Lord Lansdowne in reply stated that Mr. Roberts was a _very eminent
+chemist_ who had proved his capability by “_devising_ a system for
+depriving brittle gold of the obnoxious properties on which I recently
+commented.” Have you heard that the plan has been tried and found to
+be a complete failure!!! I am also informed that Mr. Roberts _did
+not devise_ the process in question, but that it was invented by a
+really eminent chemist, who did not make the inquiry with a view to
+its application under the circumstances which arise in the Mint, where
+operations are conducted on so large a scale. The process is described
+in the British Association Reports for 1848, and more fully in the
+_Philosophical Magazine_ for 1850.
+
+I have just received the Report of the Deputy-Master of the Mint, on
+European Mints, which I have only had time to glance over. The report
+is evidently framed with a view of meeting the allegations I made on
+the appointment of the commission. It would appear, moreover, that Mr.
+Fremantle and his colleagues have made a _very careful study of your
+book_!!! which might have been done without the pleasant trip. For
+the general public the reports are interesting as showing how foreign
+mints are worked, but as far as the management of the English Mint
+is concerned, and how a department which is a serious expense to the
+country, and from which no one but the Bank of England and the employés
+derive any profit, can be made, as it ought to be, a source of revenue,
+the report does not show. I see it is proposed to build new offices,
+“so constructed as to diminish facilities for peculation!!” I think
+the real question is, would it not be better TO COIN BY CONTRACT—this
+might be tried, at all events for a time, before the new offices are
+commenced.
+
+I almost fear this Mint question will not be taken up in the House
+of Commons, as members are afraid to “tackle” Mr. Lowe, and in these
+fearfully excited times the subject is _too dry_ for members to
+interest themselves in; but I cannot understand how a Government bent
+on economy and reforming abuses in the several Departments can allow
+such wasteful extravagance and useless losses to go on, unless indeed
+Mr. Lowe is dreaded as much at the Council Board as in the House of
+Commons.
+
+                                        Believe me,
+                                           Dear Mr. Ansell,
+                                                Yours faithfully,
+                                              (Signed)     KINNAIRD.
+
+             To G. F. Ansell, Esq.,
+    27, Bernard Street, Russell Square, London, W.C.
+
+
+
+
+PREFACE TO THIRD EDITION.
+
+
+Influential friends have advised me to issue the present as the
+_third_ edition of “The Royal Mint” on the ground that a Treatise on
+Coining which I wrote, at the request of Mr. Graham, for “Tomlinson’s
+Cyclopædia,” of which Mr. Tomlinson allowed me to have a hundred copies
+printed and bound separately for private circulation, was really the
+first edition of the more extended work I have recently published. The
+copies of that first edition were soon absorbed: indeed, owing to the
+fact that there is little literature in relation to the Royal Mint, I
+was flattered by foreign governments and foreign mints seeking from me
+copies of that book. Such applications gave me pleasure, and as far as
+I was able I complied with the requests preferred, except in the case
+of the Spanish mint, for which institution Mr. Graham asked of me a
+copy when, unfortunately, I had parted with the last at my disposal.
+I was further gratified by the fact that the Imperial Government of
+France sought permission to translate this book into French, with a
+view to give a copy to each workman in the mints of that nation.
+
+Under considerable pressure I re-wrote the book above spoken of for
+public use, but omitted to style it, as I should have done, the
+_second_ edition. This, in its turn, was most kindly received by those
+whose opinions I value in both Houses of Parliament, as well as by
+those who understand in an especial degree the subject of which I
+treated; and I have reason to know that it has found its way to all,
+even the most distant, parts of the world. It was produced, but not
+replied to, by Ministers in both Houses of Parliament, and remains
+yet uncontradicted (see page 198); indeed, I may assume that it has
+been officially confirmed; for on the motion of the Right Honourable
+Lord Kinnaird, returns were made to the House of Lords, which are
+verbatim copies of some of the most damaging pages in my book up to and
+inclusive of the dates then reached (see pages 91, 97, 102, 133, 135,
+197-8). I say thus much in gratitude, for the subject I have chosen is
+one which could hardly have induced me to expect for it so generous
+a reception. I wrote it hoping only that the public would acquaint
+themselves with the manner in which one of the principal Departments
+of the Government was and is conducted. Lord Kinnaird, in the letter
+which he has done me the honour to write, and permits me to print in
+these pages, expresses an opinion—one that is largely entertained—that
+Mr. Fremantle and his fellow-travellers to European mints are greatly
+indebted to my books for the information on which they found their
+opinions, as expressed in the reports on foreign mints. For their own
+sakes as well as for the benefit of the nation, I would that those
+gentlemen had followed in their entirety my suggestions, because such
+a course would have enabled them to avoid those difficulties which
+beset them, and pitfalls into which they will stumble in the carrying
+out the designs expressed in these reports on European mints; these I
+will discuss in the fitting place, but here I desire to thank those
+gentlemen for such attention as they have given to my opinions.
+
+The leading newspapers and periodicals have reviewed or noticed the
+books in a kindly spirit, with but one exception, in which the writer
+without refuting one statement indulged in personalities. To those
+gentlemen of the Press who have spoken candidly and generously, I offer
+my best thanks. I have endeavoured to correct the faults they pointed
+out—unless, indeed, where principle was concerned; and, in deference
+to the expressed opinions of some of my reviewers, I, now that a new
+edition is called for, publish, by his Lordship’s authority, a letter
+which I wrote to Lord Kinnaird at his Lordship’s request, giving a
+history of my dissociation from the Mint, in which, I hope, will be
+found evidence confirming the statements I make throughout the book.
+
+I do not attempt to disguise the fact that I consider myself to have
+been seriously wronged both by Mr. Thomas Graham and by the Treasury,
+still I consider, wisely or unwisely, that my personal grievances are
+of less interest to the public than is the principle involved. I,
+however, deem it right to invite attention now to the subject of my
+complaint,—fully set forth in the Appendix,—because it is illustrative
+of the treatment a public servant will surely receive if he should
+follow the intimation conveyed by the present Government, and,
+neglecting the fact of his own relative position, fulfil the duties of
+his office as he would do if the matter in hand were one of personal
+concern. The Government of the Right Honourable W. E. Gladstone, from
+their bench in the House of Commons, promised that “if each in his
+especial sphere would faithfully fulfil the duties required in his
+department irrespective of his nominal position,” “such public servant
+should be duly rewarded:”—the Ministers might have added, and would
+have so added had they been candid, “with immediate discomfort and by
+ultimate dismissal, and that justice would be sought at _their_ hands
+by such public servant in vain!”
+
+The effect of a rule which obliges Ministers to support the “head of
+a Department” “_under any and all circumstances_,” will be apparent
+to all evenly balanced minds; and I from my own knowledge, without
+fear of contradiction—except, indeed, official denial, which is now
+so perfectly understood—state that the man who best succeeds in a
+Government office is he who does unreasoningly and undoubtingly just
+what he is told to do, and avoids giving offence to his superior
+officers by pointing out any irregularity or improvement.
+
+Upon the publication by Mr. Thomas Graham of the malevolent report he
+had written to the Treasury, I, when that fact was made known to me,
+obtained a high opinion, and in pursuance of advice then given, it was
+my intention to proceed by action at law against Mr. Graham for libel,
+but his early death made that step impossible.
+
+With regard to the publication of the correspondence, it is right that
+I should say that Lord Kinnaird had not intended to draw attention to
+my case; but, when his Lordship found that the Marquess of Lansdowne
+and His Grace the Duke of Argyll led off against me in the House of
+Lords, as the Right Honourable Robert Lowe had done most bitterly in
+the House of Commons on the previous Friday, he with great generosity
+threw off the natural reluctance he had entertained to hurting the
+feelings of Mr. Graham’s friends, and defended me with words and
+documents so nobly that I can never sufficiently thank his Lordship, or
+fittingly acknowledge the indebtedness I thereby incurred.
+
+To Mr. Lowe, Lord Lansdowne, and the Duke of Argyll must be attributed
+any pain which may arise to the friends of Mr. Graham, for Lord
+Kinnaird desired to spare them; for myself, however, I would say
+that if either of the Ministers named had obligingly pointed out any
+presumedly false statement contained in the book which has so far
+excited their anger, and proved its untruthfulness, instead of saying
+hard words of the Author, I should have been less mindful of the sage
+instructions given on a celebrated occasion to an eminent Advocate, “It
+is a weak case, bully the counsel.”
+
+Some of my readers will perhaps consider that the following pages
+are overlaid with a strong personal feeling, and may therefore feel
+disposed to lay the book aside. To such I would remark that it is
+impossible to follow a pursuit of any kind earnestly, unless it be
+made a matter of undivided interest. Besides, it must not be forgotten
+that I was invited to go to the Mint solely on the ground of my known
+determination to resist abuses. Having devoted fifteen years to the
+subject of the Mint, it is not to be supposed that I can view its
+mismanagement with less concern now than I did when selected for
+appointment to that Department, that I might repress irregularities
+which were then known to exist, and which appear to have been as yet
+uneradicated.
+
+With such remarks, I invite a perusal of my new edition by such members
+of the legislature as are really desirous of reforming the abuses which
+exist in the Royal Mint.
+
+
+                 PREFATORY LETTER TO THE FIRST EDITION.
+
+                                   TO
+                      THOMAS GRAHAM, ESQ., F.R.S.,
+                     MASTER OF THE MINT, ETC. ETC.
+
+    SIR,
+
+I have written a short article for “Tomlinson’s Cyclopædia,” for the
+purpose of explaining (as far as the limited space at my disposal would
+allow) some of the details of the process of Coining, and by permission
+of Mr. Tomlinson I am allowed to have a few copies of that article
+printed separately for private circulation.
+
+I take advantage of this opportunity to acknowledge most gratefully
+that the information I have been so fortunate as to obtain on the
+subject of Coining has been gained in consequence of the opportunities
+you have afforded me in my position in the Royal Mint. With heart-felt
+thanks for the privileges you have accorded me, and for the support you
+have given me,
+
+                            I beg to remain, Sir,
+                                    Your most faithful servant,
+                                                    GEO. F. ANSELL.
+
+    ROYAL MINT, _August, 1862_.
+
+
+
+
+                PREFATORY LETTER TO THE SECOND EDITION.
+
+                  27, Bernard Street, Russell Square, London, W.C.,
+                                         _November 8th, 1869_.
+
+    MY LORD,
+
+I have ventured to ask permission to dedicate this book to your
+Lordship, as a mark of my sense of the great kindnesses you have been
+pleased to show to me through a series of years. As you, my Lord, will
+perhaps permit me to remind you, generous efforts have been made by
+many with a view to reinstate me in a position of which they and you
+consider me to have been unjustly deprived—an opinion, I believe, your
+Lordship has formed from a knowledge of all the facts.
+
+The recent death of Mr. Thomas Graham puts an end to any personal
+feeling between him and myself, whoever was right or whoever was wrong,
+or even if there were faults on both sides, the matters which caused
+a severance are better forgotten—our differences are beyond human
+adjustment.
+
+The information I have attempted to give in the following pages is
+given solely with a view to throw as much light as is possible upon a
+subject which is now attracting very considerable attention, and which
+has become of national importance.
+
+It will be to me a great pleasure if I may thus express the gratitude
+I feel for the valuable assistance I have received from your Lordship
+during a time of great trial and anxiety.
+
+                    I have the honour to be,
+                          My Lord,
+    Your Lordship’s most faithfully obliged and humble servant,
+                                                    GEORGE F. ANSELL.
+
+    To the Right Hon. Lord Kinnaird, K.T., F.R.G.S.,
+        Lord-Lieutenant of Perthshire, &c. &c. &c.
+
+
+
+
+PREFACE TO SECOND EDITION.
+
+
+Perhaps it will be well that I should give a brief outline of the
+circumstances antecedent to and attending my association with the
+Royal Mint, because the facts and opinions which will be given in the
+following pages appear to require such a notice, that their worth or
+worthlessness may be estimated at its true value, as well as that the
+sources of my information, and the modes of obtaining it, may be in the
+hands of my readers.
+
+In the early part of the year 1856 the Master of the Mint found himself
+so beset with difficulties arising from irregularities committed by
+those who should have supported him, that he formed a determination to
+engage a person who should be indisputably a faithful and intelligent
+officer in the Coining Department, and who at the same time had
+sufficient personal influence to check those irregularities which he
+knew were taking place, but which were beyond his personal supervision.
+These irregularities were known to the Government of that period, and
+had caused so vast an expense that that Government, which was presided
+over by Lord Palmerston, had intimated to the Master, that unless
+the Mint could be conducted more satisfactorily and economically, it
+would be broken up as an Imperial establishment, and thus necessitate
+the placing of the coinage in the hands of contractors. With this
+view papers were printed and issued to various firms; but Mr. Graham,
+being very sincere and energetic in his desire to so conduct the
+Mint as that this necessity should not arise, sought the advice of
+engineers and others, with a view to finding such a man as combined
+within himself the qualities which he saw to be necessary. Finally,
+by the advice of Dr. A. W. Hofmann, he called upon me at my residence
+in October, 1856, and related to me in detail the facts above alluded
+to, and explained precisely the position of affairs at the Mint,
+giving me the names of the troublesome persons, and showing his own
+position to be so intolerable, that without some one on whom he could
+rely, it would be impossible for him to continue his Mastership. Mr.
+Graham then proceeded to tell me what had passed between Dr. Hofmann
+and himself as to my fitness for the work required, and explained
+clearly the impossibility of placing me in a secure position or in high
+office at first, but that if I would accept a supernumerary clerkship
+temporarily, he would, when I had effected the object of his desires,
+advise my promotion to the office then held by Mr. W. T. Brande, when
+that office should become vacant. With this understanding I agreed
+to accept the position proposed if duly appointed; but that I might
+be able to carry out such reforms as were necessary, I insisted on
+sufficient power being given to me by himself or by the Government. In
+pursuance of this agreement, Mr. Graham recommended my appointment in
+a letter to the Treasury, dated 29th October, 1856, in the following
+terms:—
+
+“I desired to introduce a young man, recommended by scientific and
+technical information available in coining, by energy of character,
+and by tried ability in the supervision of workmen—a faculty by no
+means common. After applying to Mr. William Fairbairn and to Mr. George
+Rennie, who both recommended candidates, and making inquiry in various
+other quarters, I have been led to propose the name of Mr. George
+Frederick Ansell as temporary clerk. Mr. Ansell was educated under Dr.
+Hofmann, and acted for some years as his laboratory assistant. He has
+since been Scientific Director in the Panopticon, Leicester Square,
+which was lately broken up. He appears to be a person of superior
+education and ability, and great activity and vigour of character, and,
+as I have been assured, has shown much discretion in the management of
+both pupils and workmen.”
+
+In accordance with this recommendation I was appointed to a
+supernumerary clerkship, and took office in the Rolling Room of
+the Royal Mint; but before doing so I particularly inquired of Mr.
+Graham, in the presence of Mr. W. H. Barton, the then Deputy-Master,
+what authority I should have, and how far I should be supported if I
+attempted to enforce obedience, and whether I was at liberty to call
+for statements and examine original documents and books. He verbally
+authorised me to examine such books as I wished to examine, and desired
+Mr. Barton to give me such statements or information as I might ask
+for; and as to my authority, he said, “If you order the men to dance
+a hornpipe on the table, they shall do it, and all orders shall pass
+through your hands.” With such power, and a salary of £120 a year, or
+rather £10 a month, I took office on the 12th November, 1856.
+
+My personal experience of men and manners in the Mint is recorded
+in another book, but in this I feel it right to adhere rigidly to
+explanations of the processes of coining, and to treat of the expense
+and loss attending the manipulation of the precious metals; and in the
+latter pages I will demonstrate what formerly was, and what should be,
+the cost of producing a coined sovereign, each statement being the
+result of actual experience, and capable of proof.
+
+
+
+
+THE ROYAL MINT.
+
+
+Coining is the term applied to the processes employed in the
+manufacture of money. It is proposed to describe the present mode of
+manufacture; but it may be as well to state, that in remote periods
+money was made by cutting out a piece of metal somewhat of the form
+of the intended coin, and imparting the device to it by the blow of a
+sledge-hammer. For this purpose the blank piece of metal was laid upon
+a die, say the obverse, fixed into a block of wood or stone, supposed
+to have been so large as to absorb the vibration caused by the blow,
+and to a great extent prevent the quivering which would naturally
+arise, and cause unsteadiness. The workman then took the other die, say
+the reverse, and passing it through a folded sheet of lead, in order to
+avoid the shock to the hand, he placed the engraved part on the blank,
+which was resting on the lower die, and held it firmly while another
+workman struck it with a sledge-hammer. It is worthy of remark that a
+piece of lead such as that described is in the Museum of Dies at the
+Royal Mint; and although its surface, by the action of the atmosphere
+and other causes, is now converted into carbonate of lead, indentations
+caused by the tips of the workman’s fingers are evident. This piece is
+believed to have been used with a die of Edward IV. At a later period
+the upper die was held in a twisted hazel stick. After each blow the
+dies were what is technically termed locked together; that is, the
+lower and upper dies were made to fit into the partly-formed coin, so
+that neither die could turn without turning the whole mass, and then
+a second or third blow was given, till the coin was completed. An
+improvement on this method was effected by fitting the two dies into
+rods of iron, which may be represented as a pair of tongs; the flat
+parts which are used to take a coal would then be the position occupied
+by the dies. This plan saved the operator some risk of bruised fingers,
+but the process was essentially the same as the original one; and to
+money produced by either means was applied the term _hammered_ money,
+in contradistinction to _milled_ money; that is, money which was made
+from blanks obtained from fillets which had been rolled in a very rough
+kind of rolling mill, driven by horse power—the germ from which sprang
+the present machinery. On this point it is perhaps of interest to quote
+a passage from the Report made to the Lords of the Treasury in 1695 by
+Mr. William Lowndes, who says:—“All the moneys we have now in England,
+both gold and silver, are reducible to two sorts, one stamped with the
+hammer, and the other pressed with an engine called the mill. The gold
+or silver of the hammered money is first cast from the melting-pot into
+long bars, those bars are cut with shears into several square pieces of
+exact weight for sovereigns, angels, crowns, half-crowns, shillings,
+&c. Then with tongs and hammer they are forged into a round shape,
+after which they are blanched (that is, made white or refulgent by
+nealing or boiling), and afterwards stampt or impressed with an hammer
+to make them perfect money. This method of making money with the hammer
+(as appears in the said red book) was practised in the reign of King
+Edward the first” [the book referred to is in the Exchequer] “and this
+kind of hammered money continued through all the reigns of succeeding
+Kings and Queens till about the year of our Lord 1663, when by several
+warrants and command of the King, Charles the Second: to wit, by one
+warrant, dated the fifth of November, 1662; one warrant, dated the
+eighth of April, 1663; and a third warrant, dated the twenty-fourth
+of December, 1663; the other sort, called _milled money_, was first
+fabricated to be current in England in this manner: first, the gold or
+silver is cast out of the melting-pot into long flat bars, which bars
+are drawn through a mill (wrought by a horse), to produce the just
+thickness of guineas, half-guineas, crowns, half-crowns, shillings,
+&c. Then with forcible engines called _cutters_, which answer exactly
+to the respective sizes or dimensions of the money to be made, the
+round pieces are cut out from the flat bar, shaped as aforesaid (the
+residue whereof, called sizel, is melted again), and then every piece
+is weighed and made to agree exactly with the intended weight, and
+afterwards carried to other engines (wrought secretly), which put the
+letters upon the edges of the larger silver pieces, and mark the edges
+of the rest with a graining. The next thing is the blanching, performed
+as above; and at last every piece is brought to the press, which is
+called the _mill_ (wrought of the strength of men), and there receives
+the impression, which makes it perfect _milled_ money.”
+
+The processes now used are as elaborate as the old methods were simple;
+but considering the requirements of the present day, and the enormous
+quantity of money produced, it must not be expected that our coins
+will, for depth of engraving, bear comparison with those of the Romans,
+who, though succeeding in producing finished works of art, seem to have
+forgotten the wear and tear to which they would be subjected, and so
+left them, as a rule, free from a protecting edge; hence they would
+lose their image and superscription at a far earlier date from their
+birth or manufacture than would well-made coins of the present period.
+
+It was formerly believed that gold could be sent to the Mint to be
+coined free of charge to the importer; such, however, was not the case.
+By the Act 33 Victoria, cap. 10, several Acts relating to the coinage
+are repealed, and all persons[7] obtain the right to send gold to the
+Mint to be coined on the following terms:—
+
+    “8. Where any person brings to the Mint any gold bullion,
+    such bullion shall be assayed and coined, and delivered
+    out to such person, without any charges for such assay or
+    coining, or for waste in coinage. Provided that (1)—If
+    the fineness of the whole of the bullion so brought to the
+    Mint is such that it cannot be brought to the standard
+    fineness under this Act of the coin to be coined thereout
+    without refining some portion of it, the Master of the Mint
+    may refuse to receive, assay, or coin such bullion. (2)
+    Where the bullion so brought to the Mint is finer than the
+    standard fineness under this Act of the coin to be coined
+    thereout, there shall be delivered to the person bringing
+    the same such additional amount of coin as is proportionate
+    to such superior fineness. No undue preference shall be
+    shown to any person under this section, and every person
+    shall have priority according to the time at which he
+    brought such bullion to the Mint.”
+
+The standard for gold is fixed by the new Act at “Twenty-two carats
+fine and two carats of alloy in the pound weight troy”—the same that
+was specified in the 3rd Edward VI., 35th Elizabeth, 2nd Charles I.,
+and 18th Charles II. Silver is maintained at the former standard of
+“Eleven ounces two pennyweights fine silver and eighteen pennyweights
+of alloy in every pound weight troy.” Until the passing of this Act
+silver was coined under that of George III., which repealed the Act 18
+Charles II., as regards the coining of silver free of charge. The Act
+33 Victoria, cap. 10, repeals that of George III., but fails to make
+provision for the coining of silver, which is therefore now coined
+under the Common Law; yet the new Act specifies the weight and fineness
+of the silver coinage. The omission was made because the Chancellor
+of the Exchequer thought it “unfair to introduce silver to this Act
+as it is a source of revenue;” a little later I will examine this
+statement.[8]
+
+The Bank of England is practically the only “importer” of bullion to
+the Mint, and by coinage makes a considerable profit merely from its
+exceptional circumstances. By its charter and by Act of Parliament
+it is compelled to keep a stock of bullion equivalent to the excess
+of its authorised issue of notes—such authorised issue being secured
+by “Government debt” and “other securities”—which at the present
+time is fifteen millions; and gold, when at the Mint for coining, is
+esteemed as being still at the Bank. By the Act 7 and 8 Victoria, cap.
+32, section 4, the Bank of England is compelled to purchase bullion,
+previously melted and assayed at the cost of the seller, at the rate
+of £3 17_s._ 9_d._ per ounce of standard gold, paying for it in Bank
+of England notes. Assuming that all the gold thus purchased is coined,
+the Bank makes a profit[9] of about £2,000 on each million. When its
+authorities desire to coin gold they give notice at the Mint, and
+subsequently send at stated intervals “importations” of say 200 ingots
+of gold, each weighing about 180 ounces, and previously assayed. Upon
+the arrival of these ingots at the Mint, they are taken to an office,
+where, in the presence of an officer from the Bank of England, a
+small piece is cut from each ingot, and hammered out into a kind of
+strip. This piece is then put into a paper marked with a letter which
+corresponds with the mark or letter on the individual ingot from which
+it was taken. This having been effected for each ingot, the pieces are
+forwarded with their respective ingots to the Mint Office, where their
+weight is determined and compared with that charged by the Bank of
+England. The pieces which have been hammered out and placed in a marked
+packet are called the “assay pieces.” The assay pieces are sent to the
+resident assayer in the Mint, who estimates and reports to the Master
+the amount of pure gold in each ingot. The report of the resident
+assayer is then submitted to the Bank authorities, and if they find it
+to agree with their own assayer’s report, the ingots are retained for
+operations in the Mint. When it is desired to get the ingots of gold
+into a form fit for coining, they have to be alloyed with copper, or
+fine gold must be added, so as to bring them to standard or crown gold,
+which consists of 22 parts of pure gold and 2 parts of alloy, or 91·66
+per cent. of gold and 8·33 per cent. of copper in 100 parts. Copper is
+usually employed because it is cheaper, and forms a harder alloy than
+silver.
+
+[Footnote 7: See page 169.]
+
+[Footnote 8: See pages 126, 144-156.]
+
+[Footnote 9: See pages 126-127, 168.]
+
+Supposing there are 100 ingots, having a total weight of 18,000 oz.,
+and by assay it has been found that they contain 17,900 oz. of pure
+gold, it is required to bring them to the standard fixed by law. A
+rule-of-three sum tells how much alloy or how much gold is to be added.
+So, if 22 parts of pure gold require 2 parts of alloy, how much alloy
+will 17,900 parts require? The fourth term of the following proportion,
+viz., as 22:2::17,900:1,627·027, will show how much is to be added; but
+since there are already 100 oz. of alloy present, as indicated by the
+fact that 18,000 oz. contain within themselves only 17,900 oz. of pure
+gold, it is only necessary to add the excess required, viz., 1,527·027,
+so that these 100 ingots will produce 19,527·027 oz. of standard gold.
+Had the ingots been found to contain more alloy than is required,
+it would have been necessary to add so much pure gold as would have
+rendered the whole standard. The proportions of the metals having been
+determined, the whole mass is divided so as to make about 1,200 oz.
+of gold and alloy for each melting-pot. In practice it is customary
+to take the estimated amount of gold in a given number of ingots, and
+add so much alloy, or so much pure gold, as shall bring those ingots
+to standard, the whole weight being generally about 1,200 oz.; this is
+called _potting_ the ingots. Ingots are almost invariably melted, and
+cast into bars for sovereigns.
+
+I must here mention that the various illustrations I have introduced
+were originally used for the article “COINING” in TOMLINSON’S
+“CYCLOPÆDIA,” and the permission to use them here has been generously
+granted to me by _Messrs. Virtue and Co._, whose property they are.
+
+In the illustrative engravings, the initial letters used to indicate
+the different parts are made to take their places in accordance with
+the order in which the various parts of the machine under description
+come into play, so that by tracing out the alphabet in any figure, the
+reader will see the consecutive action of the parts of the machine he
+is studying.
+
+[Illustration: Fig. 1.—Gold Melting.]
+
+Fig. 1 represents the arrangements for melting the ingots with their
+alloy, for producing standard gold. In the Mint there are seven
+furnaces: each furnace, A, is 12 inches square and 24 inches deep to
+the top of the bars, which are seen at the ash-pit B. The pot C is
+made of a mixture of Stourbridge clay and plumbago, hence called a
+_plumbago pot_; it is 9¼ inches deep, and 7 inches across at the top
+inside. The pot, previously annealed, is placed in the furnace on a
+_bottom_ which stands upon the two centre bars. The bottom is intended
+to shelter the base of the pot C from the stream of air which is
+necessary to the combustion of the fuel, but which would damage the
+pot. The pot is then covered by its muffle and lid, and surrounded by
+fuel, which, as it burns up, warms and then heats the pot to redness,
+but so gradually that there is no great risk of breaking the pot. When
+the pot has become of a full red heat, the ingots are carefully placed
+in it, and the alloy is added by means of the funnel I: the pot is
+then covered up, and allowed to remain till the whole mass of metal
+has liquefied. The foreman then stirs it with a rod made of the same
+substance as the pot, and allows it to remain till the fluid mass has
+reached a peculiar temperature, known by experience as that at which
+the metal, when poured into a mould, forms the most solid and workable
+bar. This temperature having been gained, the two outside bars at B
+are removed, the ash-pit is then covered to protect the men’s feet,
+and the firing poked out. The lid and muffle are next removed from
+the pot, and the pot lifted by an assistant from the furnace by the
+crane D. The foreman then conveys the pot C, by means of a pair of
+tongs which clasp it, to the frame of moulds, when an assistant brings
+forward a loop of iron, suspended by a chain and cord from the roof
+of the building, and passing the loop of iron over a button on the
+end of the lower clamp of the tongs, as shown at E, F, supports the
+weight of the pot by the cord, as indicated at G. Previously to the
+melting, pieces of charcoal are placed at the bottom of the pot for
+the purpose of reducing any oxide that may be present in the alloy—and
+Dr. Percy has found that copper can dissolve 13·50 per cent. of oxide
+of copper—because oxide of copper, when dissolved in standard gold,
+frequently renders the mass so brittle that when the bars produced are
+passed between the rollers they crack and break, just as does gold
+containing minute quantities of lead or zinc. The influence of oxide
+of copper on standard gold was thus very marked in 1859, when a large
+proportion of the gold was so brittle, that if a bar were dropped on
+the floor, or tapped with a hammer, it broke, just as heated brass
+breaks under similar circumstances. Mr. Richard Smith had some years
+since pointed out that if copper in which oxide of copper is dissolved
+be poured through an atmosphere of coal gas, all the oxide is reduced.
+I therefore submitted this gold to the process thus suggested to reduce
+all the oxide of copper, and produced bars so tough that they could
+not be broken by a sledge hammer unless after repeated bending by that
+means. Yet this gold was not thus cured of its brittleness, but was
+treated peculiarly, as will be seen in a future place.[10]
+
+[Footnote 10: See pages 50-53.]
+
+When the metal is fused, the charcoal which was placed at the bottom
+is brought to the surface by stirring, and as it rises through the
+fluid alloy, reduces the oxide of copper, and remains on the surface to
+protect the alloy from the action of atmospheric oxygen. In order to
+prevent it from falling into the moulds, the assistant holds a piece
+of stick at the mouth of the pot, thus allowing the gold to pass, but
+stopping the charcoal. The foreman, in the case of gold, judges almost
+wholly by the eye, but in the case of silver by the ear, as to when
+the moulds are filled. The metal poured from each pot forms four bars.
+The moulds H are made of iron, cast into such a form that each piece
+viewed from the top has the form of the letter =T=, so that three
+pieces placed together form two moulds; the whole of the set is held in
+its position by cross-bars, L, which fit into notches cut in the main
+frame M, where will be seen two powerful screws by which the moulds are
+forced tightly together after the cross-bars L are fixed. J represents
+the pots placed so as to be kept dry and ready for use; K, the wheels
+and tram on which the frame of moulds runs. The whole of the set of
+moulds having been filled, the screws at M are loosened, the bars, L,
+removed, and the parts of the several moulds removed, so that the bar
+in each mould is exposed to view. The workman takes each bar as it is
+exposed by a pair of tongs, and plunges it into a cistern of cold water
+to insure rapid cooling, and then places it on a bench, where the
+bars produced from each pot are separated and marked with a number, to
+indicate the pot from which they were poured, and the entire set with
+letters, to indicate the day on which the melting took place. After
+these distinctive marks have been placed on the bars, two assay pieces
+are taken from the bars from each pot.
+
+[Illustration: Fig. 2.—Silver Melting.]
+
+As silver melting,[11] when discreetly conducted, is slightly different
+in some of its details, it will be well to describe it here. In Fig. 2,
+A indicates the furnace with the front removed, to exhibit the internal
+arrangements. The furnace is circular, and is 21·5 inches across, and
+31 inches deep. The bars, which are represented by dotted lines, are
+removable at will. The _bottom_ B stands on the centre bars, just
+as in the case of gold melting: it is filled with coke dust, which
+retains any silver issuing from a small accidental crack or pin-hole
+in the pot, and also offers a non-conducting medium for the pot C to
+rest upon, it being necessary to avoid the abstraction of heat by the
+current of air against the base of the pot. A muffle, D, is placed on
+the pot, and upon this muffle the lid E rests. The pot is circular,
+and provided with a lip, to facilitate the pouring of the metal; it
+is made of wrought-iron, 12 inches across at the top, and 15 inches
+deep, and when melting for florins is charged with 4,800 ounces of
+silver. As in the case of gold, so with silver, the metal is alloyed
+with copper; standard silver being composed of 222 parts of pure silver
+and 18 parts of copper in 240 parts, or 92·50 parts of silver and 7·50
+of copper in 100 parts.[12] The calculations based on the assays from
+ingots are just the same as in the case of gold. The ingots are put
+into the pot, and the lid is placed on the muffle (which is intended to
+prevent metal from falling over the top of the pot during the process
+of fusion, as sometimes might happen when _scissel_[13] is melted),
+and the furnace is then closed, so that the air enters through the
+bars, and passes into the chimney through the flue F. The lid of the
+furnace G is provided with peep-holes, by which the temperature can
+be regulated at will, while they also admit of a survey of the state
+of the furnace. When the fusion is complete, and carried so far as
+to raise the fluid metal to the necessary temperature, the bars of
+the furnace, with the exception of those which support the pot, are
+removed, and the fuel is poked out, because the pot at this temperature
+is so soft that it would be _torn_ if it were pulled through the fuel.
+The lid and muffle are next taken off by tongs, and the crane is swung
+round by the handle, H, till its tongs are brought over the furnace,
+when, by working the handle I, the tongs J are lowered till they come
+to the pot; the foreman then makes them seize the pot, and by a signal
+gives his order for the raising of the pot from the furnace. Pieces
+of fuel and iron scaling are knocked off from the pot by the foreman
+with a brush kept in a crucible of water, indicated by V at the foot
+of the crane. The crane is then swung round by H, till the pot is over
+the cradle K, when it is lowered and secured in the cradle by the
+screw, shown at C. The frame of moulds is now run under the lip of the
+pot, and the foreman, by means of the handle L, which will be seen to
+communicate with the wheels M, and the rack N, tilts the pot so that
+the fluid metal may pour in a good stream into one of the moulds O,
+until, by the sound, he judges it to be full; he then lowers the pot,
+while his assistant, who is also watching the filling of the moulds,
+turns the handle P, which, by the wheel Q fitting into the rack R,
+moves forward the frame of moulds so far as to allow another mould to
+come beneath the lip of the pot, to be filled as before. The fluid
+silver in the melting-pot is covered with charcoal, for the same reason
+as explained in gold melting, and this is kept back by means of a large
+piece of charcoal laid at the mouth of the melting-pot. The frame of
+moulds runs on wheels S, and at T is provided with a rack and pinion,
+by which the moulds may be moved farther from or nearer to the lip of
+the pot, which, as it is tilted, is continually altering its relative
+position to the mouth of the moulds, and would, were it not for this
+arrangement, pour its metal outside of, or upon the moulds, instead
+of into them. The moulds are formed of =T= pieces, in the same manner
+as the moulds for gold, and are secured in their position by the same
+method, the cross-bars being shown at U. The bars, having been taken
+from the moulds, are cooled in water, and distinctively marked, as in
+the case of gold. Assay pieces are cut from them, but in the case of
+silver three assays are taken from the bars produced from each pot.
+
+[Footnote 11: See pages 129-138.]
+
+[Footnote 12: See pages 3, 73.]
+
+[Footnote 13: This word is explained at page 35.]
+
+The bars for different denominations of coins are proportioned in their
+width, so as to admit of two rows of blanks being cut from the fillets
+produced from them. The following statement gives the whole facts
+concerning bars for each coin, as used in the Royal Mint. It would be
+well to produce bars of a uniform thickness of 0·50 inch, as such bars
+may be cast solid, and when cast produce better fillets with half the
+rolling, without the cost of annealing. There would be also another
+advantage, for the blanks obtained from the fillets produced from bars
+0·50 inch thick would not require annealing, and would thus save the
+cost of that process, as well as the loss occasioned by it, while the
+coins produced would wear immeasurably longer in circulation. There are
+other considerations why this thickness should be at once adopted, as
+will be shown when the subject of loss by coining is explained.
+
+I am glad to notice that Mr. Fremantle, in his Report on European
+Mints, proposes to adopt my recommendation, as shown by the following
+passage, page 9:—
+
+    “... It would seem to be a question whether in a newly
+    organised Mint considerable time and labour might not be
+    saved by reducing the size of the moulds in which both gold
+    and silver bars are cast. The result would be that, as
+    bars would be thinner when first subjected to the process
+    of rolling, the time now occupied by that process would
+    be sensibly diminished. It should also be mentioned that
+    although there is great difficulty in producing sound
+    castings if the thickness of the bars should be reduced, it
+    might nevertheless, for the metallurgical reasons which Mr.
+    Roberts points out, be advisable to make this alteration.”
+
+There is really no “_difficulty_ in producing sound castings if the
+thickness should be reduced;” but I fear there are many DIFFICULTIES
+in the Royal Mint itself. Indeed the casting of the bronze bars—whose
+thickness is less than that I propose for those of gold—gives evidence
+of the ease with which thinner bars may be produced; yet against
+_these, insuperable difficulties_ were urged until I experimentally
+demonstrated how easily they could be cast.
+
+    STATEMENT OF PARTICULARS AS REGARDS BARS USED FOR COINING.
+
+    +--------+---------------+-------+--------+----------+--------+
+    | Metal. |Denomination of|Length.|Breadth.|Thickness.|Average |
+    |        |intended coin. |       |        |          |Weight. |
+    +--------+---------------+-------+--------+----------+--------+
+    |        |               |Inches.|Inches. | Inches.  |Troy oz.|
+    |Gold    | Sovereign     |  24   | 1·375  |  1·000   |  320   |
+    |        | Half-Sovereign|  24   | 1·125  |  1·000   |  250   |
+    +--------+-----------------------+--------+----------+--------+
+    |        | Crown         |  22   | 2·750  |  1·000   |  300   |
+    |        | Half-Crown    |  22   | 2·500  |  1·000   |  240   |
+    |        | Florin        |  21   | 2·125  |  1·000   |  220   |
+    |Silver  | Shilling      |  21   | 1·437  |  1·000   |  150   |
+    |        | Sixpence      |  21   | 1·125  |  1·000   |  120   |
+    |        | Fourpence     |  21   | 0·875  |  1·000   |   96   |
+    |        | Threepence    |  21   | 0·875  |  1·000   |   96   |
+    +--------+-----------------------+--------+----------+--------+
+    |        | Penny         |  24   | 2·500  |  0·375   |  100   |
+    |Bronze  | Halfpenny     |  24   | 3·000  |  0·375   |  117   |
+    |        | Farthing      |  24   | 3·000  |  0·375   |  117   |
+    +--------+---------------+-------+--------+----------+--------+
+
+It is to be regretted that crowns, half-crowns, and fourpences are no
+longer coined. It has been represented to me by many manufacturers and
+others who employ vast numbers of men, that the disuse of the fourpenny
+piece has caused considerable inconvenience in the weekly payments to
+their workpeople. The objection to this coin would appear to be that it
+is so nearly the diameter of the threepenny piece; but this is obviated
+by the fact that the edge of the latter is plain, while that of the
+fourpenny is crenated or “milled.”
+
+The assay pieces,[14] when cut from the bars, are placed in the
+divisions of a tray going from left to right, so that there can be
+no mistake as to the number of the pot from which the metal comes;
+each assay piece is then placed in a small envelope, marked with a
+distinctive mark, to characterise the pot from which it came. The assay
+pieces are sent in equal numbers to the two non-resident assayers,
+who determine, irrespectively of each other, the amount of gold found
+in each piece. Suppose we trace one assay piece, and imagine that 120
+are undergoing the same process at the same time. The assay piece is
+flattened out into a kind of ribbon, and from it three pieces are cut,
+each weighing half a gramme. Each piece of this weight takes the name
+of a _thousand_, and is represented by the figures 1,000; but of course
+it may be called a pound, a ton, or by any other denomination. Each
+piece is wrapped in paper, with three times its weight of silver in two
+pieces, both metals being of the same thickness. The parcels, as they
+may now be called, are ready for the next process, and are arranged
+in their proper places from left to right in the divisions of a tray,
+and taken to the assaying furnace. In the assaying furnace is placed a
+Payen[15] muffle, or kind of oven, perforated at places so as to allow
+a limited amount of atmospheric air to pass from the interior through
+its sides into the furnace. The muffle is surrounded with fuel, so that
+it is kept at a good—almost white—heat. On the floor of the muffle is
+sprinkled some bone ash—obtained by burning bones to whiteness—and on
+this bone ash is placed a set of 40 cupels, or little cups, made of
+compressed bone ash, and about as big as a florin, and so deep as to
+hold about half a teaspoonful of water. When the cupels have been in
+the muffle long enough to become red hot, a piece of lead of about nine
+times the weight of the gold to be assayed is put into each cupel,
+taking care not to let any lead fall over, or it would destroy the
+muffle. So soon as the lead has melted, the paper parcels containing
+the gold and the silver are placed one in each cupel of melted lead.
+In a short time the gold and silver melt together, and, as it were,
+dissolve in the lead; then a kind of circulation of the fluid metallic
+mixture is observed to take place; and during this circulation, the
+lead, as it is presented to the surface, meets with the oxygen of the
+atmosphere, and combining with it, forms oxide of lead, which at that
+temperature is fluid, and drains into the substance of the cupel,
+carrying with it the copper and other impurities contained originally
+in the gold, leaving in the cupel a button which contains all the pure
+gold and the silver. The cupellation occupies about ten minutes, and
+at the end of that time the little mass of fused metal is observed to
+brighten up, the signal by which the assayer knows that the process is
+finished, and he withdraws the cupels one by one, tilting the fluid
+globule on one side, that it may incorporate with it any small globule
+which may chance to be upon the side of the cupel. Some assayers
+close the doorway of their muffles as the time of the brightening up
+of the assay approaches, to avoid the access of the atmosphere till
+the buttons have become solid, because the button of metal—by its
+silver—absorbs oxygen; and giving off this oxygen at the moment of
+solidification, spurts or opens, leaving the button hollow or ragged.
+This precaution is not thought necessary by all assayers, nor, indeed,
+is this system invariably followed, for some prefer to wrap the gold
+and silver in the lead foil which is to be used, and do not care to
+have the precious metals of identical thickness; these assayers use a
+smaller proportion of silver, viz., 15 parts to 6 of standard gold,
+or 17·50 to that which they judge to be _fine_, with a view to avoid
+the danger of “spurting;” they also save time by withdrawing the whole
+batch of cupels on a tray by means of a peel. The button is taken from
+the cupel as soon as it has been detached, either by dropping a little
+water on to it, or by allowing it to cool spontaneously, and it is
+then hammered out into a strip and annealed. It is next rolled into
+a ribbon or fillet, and again annealed, after which it is curled up
+into the form of a letter S. Some prefer to roll the piece into a kind
+of cushion, but in such a case it is more difficult to remove all the
+silver; the proper plan is to expose as large a surface as possible to
+the action of the acid in the next operation.
+
+[Footnote 14: See pages 9, 53.]
+
+[Footnote 15: That is, made by Payen, of Paris.]
+
+The S-shaped fillet is put into a flask of nitric acid of specific
+gravity 1·23, and the flask is placed in a little cup of brass,
+which stands over a small gas-burner, while the neck of the flask
+enters a kind of flue, through which a current of air is continually
+passing into the chimney of the furnace. The flask being placed in
+its position, the gas is lighted, and a gentle heat applied, when the
+nitric acid dissolves out the silver from the S-shaped fillet, and is
+known to have done its work when red fumes cease to be evolved. The
+acid is then poured off, and the remaining sponge of metal is washed
+with distilled water, and boiled with concentrated nitric acid, which
+removes the remainder of the silver. The sponge of gold is now washed
+with water, to remove the nitrate of silver, and is then heated to
+redness in a capsule to render it tough, for in its spongy state it is
+so rotten that it will not bear to be touched; and although it remains
+spongy, it is toughened by being heated to redness. It is now called
+a _cornet_. This spongy state is a consequence of the addition of
+silver, the presence of which, and its subsequent removal, produce a
+separation of the particles of the gold. The gold is thus formed into
+a kind of network or sponge, so that the acid can get at every part of
+it, and remove any metal which is soluble in the acid. Diluted acid
+is used first, because if there be any lead left it is dissolved out,
+and because the action of the strong acid is so violent, that part of
+it would probably be carried out from the flask. Nitric acid, when
+boiling, is liable to form bubbles of gas, which expanding, give rise
+to what is called _bumping_; hence it is usual to put a charred pea
+into the flask, and this, floating on the surface, causes a more even
+flow of vapour and gases, and so prevents bumping. It is probable that
+the charred pea determines the boiling at one particular temperature,
+for it is found that water, if it be floated in a fluid of a higher
+boiling point than itself, may be raised considerably above its
+ordinary boiling point, although remaining quiescent till disturbed
+by a rod or point. The cornet is next weighed, and as it has been
+begun under the idea that it was a _thousand_—1,000—all that it weighs
+short of 1,000 is the alloy which has been removed, the object having
+been to determine how much pure gold was present in the alloy. There
+is, however, a source of error in the process which requires to be
+explained.
+
+It is found to be practically impossible to remove every trace of
+silver from the cornet; it is therefore necessary to make an allowance,
+the amount of which is determined by a _proof_. The proof consists of
+a mixture of gold and silver of known proportions, so that if all the
+silver be removed from a thousand—1,000—the remaining cornet should
+weigh exactly 916·6. Four of these proofs are worked with each batch of
+assays—a batch being 120 assays—under precisely similar circumstances,
+every precaution being taken that the four shall be equally distributed
+over different parts of the furnace, &c. Now suppose that the proofs,
+instead of weighing 916·6, as they would weigh if the whole of the
+silver were removed, were found each to weigh 916·9; it would be known
+that 000·3 of silver had been retained, and must be deducted from each
+of the whole batch of assays. If the assays of coins exceed the limits
+of from 917·6 to 915·6, they are repeated, as it is assumed that an
+error has arisen. The convenience of considering the ½ gramme as 1,000
+consists in the fact that 1,000 parts of standard gold contain 916·67
+of gold and 83·33 of alloy; so that the result having been arrived at
+without any calculation, one source of error is avoided and time is
+saved.
+
+Messrs. Johnson, Matthey, and Co. have invented a tray of platinum
+capsules or thimbles, into which the assay pieces are placed for
+treatment with acid, instead of into the ordinary glass vessels over
+gas-burners. The advantages of this invention are too manifest to
+require elaboration; but saving of acid, gas, labour, and risk of
+error are amongst the chief of them; and besides, the plan has been in
+successful operation in their own assay offices in Hatton Garden, as
+well as in other important assay offices, for several years past. The
+first cost would seem to be the principal objection to this plan of
+Messrs. Johnson, Matthey, and Co.; but this is really a small matter,
+for the apparatus becomes stock in trade, and its cost should be
+viewed simply as so much capital, whose interest is paid by the saving
+effected in glass, but more especially by the smaller amount of acid
+actually employed, while the platinum can at all times be sold for
+nearly its original cost as old metal.
+
+The mode of operation is as follows:—A stand of slate is so arranged
+that a means of heating is made to rest on its base. For this purpose
+a jet of gas is preferred; where, however, gas cannot be obtained,
+an ordinary oil lamp or a charcoal fire may be used. On a shelf over
+the source of heat are placed two or three receptacles of platinum,
+each communicating with a vessel made of porcelain, provided with
+three necks and an overflow pipe. There is a kind of sieve or tray of
+platinum, so arranged as to carry from 16 to 100 thimbles of platinum,
+and provided with a handle, so that this tray, with its charge, can be
+manipulated at pleasure. The thimbles vary in size according to taste,
+but each one is cut or slit at the bottom, so that the solution of
+silver as it is formed may by its density fall out, and allow the clean
+acid to take its place.
+
+When an operation is to be performed, the tray filled with the charged
+thimbles—that is, containing the assay pieces—is placed in one of the
+platinum receptacles or boilers, and heated to a fitting temperature;
+when the desired effect is produced, the tray is lifted into another
+receptacle, and again heated; this may be carried to three times if
+necessary. The products of decomposition of the acid go, with the acid
+which evaporates, into the porcelain vessel, where the free acid falls
+through the overflow pipe into a proper chamber, while the acid fumes
+pass into the flue through the third neck before spoken of. The parted
+assays having been washed by several immersions in boiling distilled
+water, without removal from their thimbles, have now to be dried and
+annealed in a platinum muffle, so formed as to fit into an ordinary
+muffle, and, after annealing, to be weighed in the usual manner, having
+saved at least 75 per cent. of the usual trouble.
+
+It is almost needless to add that the system of _proofs_ above
+described must be also used with this process.
+
+The assay for silver is not so tedious, as it is finished at the point
+where it leaves the muffle on the cupel; but up to this point it passes
+through precisely the same process as the gold.
+
+It will have been observed that the event of the process of assaying is
+to exhibit the proportion of _bullion_ which may be present in a given
+weight of mixed metals, but that it does not demonstrate the character
+of the substance which forms the alloy, because this is assumed to
+be copper or silver. In practice it is found that the alloy may be
+a mixture of copper or silver with lead, mercury, antimony, arsenic,
+tin, or zinc, in varying proportions, but whose sum does not exceed the
+rate per centum in relation to the bullion which is allowed by law. The
+existence of minute proportions of lead, mercury, antimony, arsenic,
+tin, or zinc is a matter of great concern, for these, when present, add
+indefinitely to the difficulties of the coining departments.
+
+Under the present system, complete analyses of bullion imported for
+coining are a practical impossibility. I would therefore propose to
+abolish the office of non-resident assayer, and then to appoint two
+resident assayers, who should conduct their operations in independent
+laboratories—already existent—and a condition of whose appointment
+should be an agreement to conduct, when so directed by the Master
+of the Mint, complete analyses of the bullion submitted for assay.
+The information thus obtained would enable the melter, by processes
+subsequently explained,[16] to remove all those substances which
+are _now_ found to be fatal to the coining of certain bullion. The
+appointment of officers possessing such ability would be an equal
+guarantee with the present for the faithful preservation of the
+integrity of the coinage. This suggestion has been adopted and
+recommended—so far as regards the resident assayers—by Messrs. C. W.
+Fremantle and C. Rivers Wilson, in their “Reports on the Mint,” 1870.
+Indeed two assistant assayers have been recently appointed.
+
+When the assay reports arrive, the Master determines whether the metal
+has been found within the limits, and if he be satisfied he writes on
+the assay reports “Passed,” and signs the reports. The Deputy-Master
+retains the reports as his warrant, and then issues his order for the
+delivery of the bars by the melter to the rolling room, as recommended
+in my report dated 29th January, 1859; but, as the accounts are kept by
+weight, every set of bars is weighed by the officer who receives them
+into that room before he gives them to his men to work into fillets.
+
+When, in 1856, I took charge of some departments in the Royal Mint,
+I found that the system of weighing was extremely loose. Officers
+were plainly told that if they ventured to satisfy themselves as to
+the weight of bullion they had received—in fact, to determine whether
+they received what was charged to them—“they would be paid out.” This
+state of things led men to accept _any_ weight. But I objected and
+resisted; for I found that the average on each day’s work as received
+amounted to an habitual minus of five ounces on the weight charged
+on silver, while on gold it was seldom so little as one ounce. In
+illustration I will state one case which occurred. I delivered 7920·00
+ounces of gold to the Mint Office. When that gold was received,
+the official weigher gave me credit for 7918·15 ounces, which was
+a deduction of no less than 1·85 ounces. I appealed to the Master,
+who by written order directed the gold, the weight of which was thus
+disputed, to be weighed by Mr. Pilcher, the officer of the weighing
+room, in the presence of witnesses whom the Master nominated. Mr.
+Pilcher complied with this order, and gave a certificate, signed by
+the deputed witnesses, in which he stated that the gold under dispute
+weighed 7919·98 ounces—that is, that it differed in weight as charged
+by me to the Mint Office 9·60 grains instead of 888·00 grains, the
+difference which the official weigher had deducted from the bullion
+I had delivered to him. The custom had been to weigh silver to 0·50
+ounce, and gold to a pennyweight; but I introduced the system of
+weighing silver to 0·10 ounce, and gold to 0·01 ounce, and at the same
+time induced the Master to order new balances of superior construction
+for the coining department, and one specially devised by Mr. James M.
+Napier for use in the Mint Office. Of this balance, received after
+having been ordered for some years, it will be sufficient to say that
+it appears to be extremely accurate when properly used, and is then
+capable of great results; but, unfortunately, the system is such that
+those who are admittedly unfit may be promoted to important posts, just
+because they are senior, and not because of superior fitness for the
+work. This fine balance, therefore, becomes equal to a good rifle in
+the hands of a bad marksman. Great accuracy having been enforced, the
+weighing is now improved, but is still far from perfect, because the
+officers are compelled to abide by the decision of the weigher at the
+Mint Office, who, as beforesaid, may be unfit for his office, while
+the officers themselves are debarred from all checks, by the removal
+from the coining department of the set of standard weights, which were
+bought on purpose that those gentlemen might check their own weights as
+to accuracy. The Master’s order for the removal of these weights was in
+the following terms:—
+
+[Footnote 16: See pages 81-82.]
+
+    “The standard weights hitherto kept in the weighing room
+    are permanently transferred to the Mint Office. A new set
+    of standard weights to be made for the Mint Office. The
+    coining department weights to be examined by Mr. ——
+    ——, and compared with those in the Mint Office (after
+    these have been corrected), and reported on by him. Such
+    examinations to be repeated every six weeks.”
+
+It should be observed that this order was preceded by one written on
+the 2nd February, 1865, which directed that the Mint Office weigher
+should be the final judge, but that any officer might demand the
+re-weighing of any bullion, while the second weighing was to be final.
+All appeals to pass through Mr. John Graham, the order proceeding to
+direct that—
+
+    “The final decision is not to be called in question by any
+    other officer of the coining department.”
+
+The latter determination, I was informed, was intended to apply to me
+personally. Its immediate effect was a deduction of 0·25 ounce from the
+first gold I delivered, and a consequent alteration of my book to that
+extent by Mr. John Graham, who made a note in writing as follows:—
+
+    “This difference (error) may be accounted for by the
+    acknowledged error of three grains heavy of the Mint Office
+    500 oz. weight. See Œrtling’s Report.
+                                                 (Signed) “J. G.”
+
+Such being the circumstances, I submitted; but the result could be in
+one direction only, for it had long been maintained that the reported
+losses were but “an hallucination,” and were, in fact, a “mere
+difference of weighing.”
+
+It is true that the weights are periodically adjusted, but there is
+adjusting and adjusting. These facts have been dwelt upon because
+they have a most important bearing on the subject of loss and gain by
+coining, to be afterwards treated of.
+
+Between 1856 and 1866 the old scales were removed, to make room for
+the superior balances of Messrs. De Grave, Short, and Fanner, the
+eminent scale-makers of St. Martin’s-le-Grand, of whose balances it
+is impossible to speak too highly, and of whom it is but fair to
+state that the Prize Medal was awarded to them at the International
+Exhibition, 1862, for their superior workmanship in balances.
+
+Since it is necessary for the officer in charge of any department to
+ascertain the exact amount he gives to his workmen, and to satisfy
+the Master that they have returned—to within the limit of the weight
+of one blank of whatever denomination of coin he may be working—the
+bullion which they received, it became imperative to select the best
+balance; and in practice that made by Mr. S. R. Short, of the firm
+above named, was found to be the most serviceable. Mr. Short has
+introduced minor improvements from time to time, as experience has
+dictated, but the balance about to be described, after years of wear,
+determines to within one grain when charged with 1,200 ounces troy. The
+mode of proving the accuracy of a balance is to weigh as usual, and
+having arrived at a just determination of the weight of the matter to
+be weighed, to change the weights to the pan in which the matter has
+been weighed, and to place the matter in the pan previously occupied by
+the weights, so that both are now made dependent from the reverse ends
+of the beam; if the results be identical with the former results there
+can be no doubt as to the accuracy of the beam; should there be any
+variation, the balance must be adjusted by minute alterations of the
+knife-edges at its ends.
+
+Mr. Napier has made his balance after the principle of Mr. Cotton’s
+balance, so that it requires no adjusting screws, but I have no
+personal experience of the benefits of this omission.
+
+[Illustration: IMPROVED BALANCE (TO WEIGH 2000 OUNCES.)
+
+BY Mʳ. S. R. SHORT, JUNʳ.]
+
+The balance used in the rolling room of the Royal Mint is specially
+adapted for the purpose. Such a balance, as already noticed, must be
+accurate, as must also all the balances used in the Mint; but this
+balance requires an arrangement by which the pans can be released
+from the beam and held firmly while being loaded. Mr. S. R. Short has
+been peculiarly happy in effecting this object, as will be seen by
+reference to the steel engraving, which exhibits a fine illustration
+of Mr. Short’s balance. The raising of the handle A causes the partial
+revolution of the cam B—represented by dotted lines—and this, as it
+diminishes, releases the lever C, which, by the rods D acting on the
+point E, permits the approach of the joints on the rods F towards the
+centre. The rods F work on a centre fixed beneath the table on which
+the balance stands, so that the closing of their one end causes the
+opening of the other. Thus the claws G recede from the wedges H, upon
+which they had been fastened, and so release the pan, for the claws act
+simply as a man’s hand would act in fixing the pan while it is being
+loaded. Immediately upon the opening of the claws another action takes
+place by the continued movement of the handle A, which causes the cam
+I to rotate upon the friction roller J, affixed to a lever proceeding
+from the shaft K, which at L is cut with eccentric bearings, so that
+by the partial revolution of K, caused by the pressure of I upon J,
+the series of supports M sink downwards from the pans N, thus obliging
+the pans, with the rods which support them, to be suspended from the
+supports S, which rest on the frame R. So soon as the pans are thus
+suspended, the continued motion of the handle A causes the cam O to
+permit the falling of the lever P, which at Q supports upon a friction
+roller the iron framework R. This framework terminates upwards at the
+points near S in sugar-loaf cones of gun-metal, which are intended
+to relieve the knife-edges of the beam from the pressure of their
+planes while the beam T is out of use, or while it is being loaded,
+for at these times the knife-edges would become seriously damaged.
+By the lowering of the frame R the centre knife-edge U is permitted
+to rest on its plane of steel _c_, which is beautifully bedded on an
+arch of gun-metal, as will be seen if the enlarged representation of
+this part, and which is shown to the right, be examined. In fact, the
+steel plane _c_ is secured by wedges exactly shaped to it, but for the
+sake of illustration these wedges have been replaced in the enlarged
+portion of the engraving by upright pillars shown against _c_, with
+screws travelling through them, and intended to fix _c_ rigidly in a
+given position. At the same instant that U comes into rest upon _c_,
+the knife-edges V at the ends of the beam T receive the planes W, so
+that the beam has now to support the weight of the matter placed in
+the scale-pans, and at this time is determined the actual weight of
+whatever that matter may be. The weigher, by an indicator suspended
+from the beam at X, reads the oscillations of the beam on an ivory
+plate at Y. At the time of weighing, the beam with its dependents
+is carried by the four-legged frame of iron _b_. The frame R passes
+through friction rollers of brass at _d_, which rollers maintain it in
+its relative position to the beam. The weighing having been determined,
+the handle A is reversed, and the beam is placed at rest; but the
+vibration of the machinery in the rolling room causes a continuous
+chatter of the knife-edges V against the planes W, therefore at each
+end of the beam a small screw Z is made just to touch the lower edge of
+the beam when it is at rest. Final adjustments which are very minute
+may be arranged by _f_; while the box _e_ on the pan against G is
+intended to receive small pieces of lead, which are used to compensate
+for the loss by the wearing of the pans. The shaft K is supported from
+the table by _a_. The beam of the balance represented in the steel
+engraving measures 48·00 inches from knife-edge to knife-edge; that
+is to say, it measures 24·00 inches from the centre knife-edge to the
+knife-edge at either end. Mr. S. R. Short has made for the rolling
+room another balance for weighing silver, and as it differs in some
+important details, it is deemed wise to demonstrate those alterations
+in Fig. 3, where the supporting frame R will be seen to carry three
+upright pillars S¹, S², S³. The pillars S¹ and S³ are represented as
+being placed on the farther side of the beam, which at those parts
+is broken away, that the pieces of steel against which the pillars
+are made to touch may be seen. S² touches against one of these pieces
+of steel near the centre knife-edge U, and in front of the beam. The
+pillar S² terminates in a point, which passes into an inverted cone,
+while the point of S³ is made to pass into an inverted =V=, so that
+when the beam is raised by these pillars from its centre knife-edge, S²
+obliges it to take a specific position with regard to its distance from
+the centre of the plane on which its centre knife-edge rests, and S³
+causes it to take a perfectly parallel line. S¹ is simply a plane which
+rises against a plane and steadies the other end of the beam, which by
+this arrangement stands as on a tripod, and is, therefore, prevented
+from moving, and in addition has its knife-edge invariably placed upon
+the same part of the plane at each time of weighing, while the frame R,
+by its continued lowering, drops the planes with equal accuracy on the
+end knife-edges V.
+
+[Illustration: Fig 3.—Short’s Plan for Levelling a Beam.]
+
+[Illustration: Fig. 4.—Breaking-down Mill.]
+
+The sovereign bars having been weighed by the officer, and given by
+him to his men, are wrought in sets of twenty; each set is called
+a _batch_, and each bar in the batch undergoes precisely the same
+process. The bar is passed into the opening A of the breaking-down
+mill Fig. 4, where it receives a considerable compression, for the
+rollers B, seizing its end, drag it forward, while they roll back and
+retard the progress of that part of the bar which is not between them.
+The result is that the bar is lengthened, but not widened materially,
+so that length is gained at the expense of the thickness, which is
+regulated by the distance between the rollers. The rollers are driven
+by shafts and adjusting couplings C, which are themselves driven by the
+wheels D. The distance between the rollers is determined by the action
+of the lever E′, which, by the endless wheels on its axle at E fitting
+into geared wheels, gives motion to powerful screws shown at F, which
+terminate in cups on the upper part of the upper brasses of the rollers
+B, as may be seen at G. The upper brasses are kept always against the
+ends of the screws by weights which are beneath the mill, but from
+which levers and rods terminate at the lower part of the upper brasses,
+at about the position indicated by I, so that the upper roller has
+motion either upwards or downwards at pleasure, but the motion upwards
+is arrested by the powerful screws F, and this point once determined
+by the reading of the scale H, is fixed by the clamp J. The thickness,
+therefore, of each bar in a batch is determined within certain limits;
+and when each bar in the batch has been rolled, the mill is altered,
+refixed, and again the rolling goes on till each bar has passed seven
+times at varying pinches through these rollers. Owing to the wear
+of the moulds in which the bars are cast—and which is largely due
+to the presence of minute portions of antimony in the gold—the bars
+are never of uniform thickness; hence bars of every denomination are
+passed through the rollers on their edge, so as to reduce them to one
+uniform thickness, otherwise the fillets resulting would be ragged,
+and of unequal widths, which defect would cause them to produce blanks
+out of _remedy_[17] as to weight. The rollers are set face to face;
+the graduated scale H is then fixed at zero; if now the rollers are
+separated until there be a space of 1·00 inch between them, the scale H
+will indicate 50; if, however, it be desired to read a higher figure,
+part of another revolution must be performed, causing the scale to
+read, say 31·50 of that revolution, when the rollers will be so far
+apart that sovereign bars which pass between them will, allowing for
+the expansion after compression, be found to be exactly 1·375 inches
+wide.
+
+[Footnote 17: See p. 39.]
+
+If now these bars be rolled on their sides, the mill must be turned
+down till the scale reads 45, when, if the bars be passed through, they
+will measure as under for width and thickness at each successive pinch.
+A _spring-pinch_ means the passing the bar once more through the mill
+without altering the distance between the rollers.
+
+    A sovereign bar passed        Becomes a fillet or ribbon—
+    through the rolling mill—    Inches wide.   Inches thick.
+    At 45·00                      1·450          0·775
+    ”  35·00                      1·540          0·610
+    ”  26·00                      1·610          0·460
+    ”  19·00                      1·665          0·335
+    ”  14·00                      1·696          0·250
+    ”  10·50                      1·712          0·194
+    ”   8·50                      1·765          0·148
+    ”   7·00                      1·778          0·129
+    ”   1st spring-pinch.         1·778          0·127
+    ”   2nd   ”      ”            1·778          0·120
+    ”   3rd   ”      ”            1·779          0·118
+    ”   4th   ”      ”            1·781          0·117
+
+When the bars have passed through the rollers at 10·50 they have become
+of great hardness, and of considerable length, say 6 or 8 feet. They
+are then taken to the shears K, where their hollow ends are cut off,
+and the bars cut into lengths of 18 inches; or rather, such was the
+practice when it was considered wise to obtain as much coined money as
+was possible from the bars; but recently, under other considerations,
+the old plan of the moneyers has been re-introduced, that of shearing
+the hollow ends from the bars before rolling. In this process there
+is needless waste, and it is to be hoped that the proper practice
+will be reverted to, for under that system the ends averaged 4·26 per
+cent., while under the re-introduced one it amounts to 7·03[18] per
+cent. on the bars, and for the following reason. When the metal is
+poured into the moulds, it almost immediately solidifies, and while
+solidification is going on contracts in volume, leaving a kind of cup
+of metal or hollow part on the top of the bar. In the act of rolling,
+the bar maintains an equable width until this hollow part is reached,
+when it suddenly expands, and at this point the workman shears off
+the defective part of the bar, whereas in the other case he shears
+off the hollow end until his eye fails to discover the effects of the
+shrinkage; hence the loss of 2·77 per cent. on the produce of fillets,
+as well as the loss in wages for melting the bars. The shears may be
+regarded as large scissors driven by a drum on the same shaft that
+carries the driving wheel for D. The drum is eccentric, so that at each
+revolution the shears are caused to open and shut. The bar being placed
+between the jaws K, the long end L of the shears is raised by the drum,
+and the piece is cut off. The shears may be closed and the end of L
+suspended, when out of use, by a hook on the end of the screw worked by
+the lever M. The length at which a bar is to be cut off is regulated by
+the gauge shown at N.
+
+[Footnote 18: See page 112.]
+
+[Illustration: Fig. 5.—Annealing Furnace.]
+
+The sheared bars are placed in copper tubes, the tops of which are
+luted on with clay. It is imperative that the copper tubes should be
+made without solder, because this fuses at a temperature below that
+which is required to anneal the gold; if present it would run down
+upon the hot gold, and cause it to fuse and alloy with the solder,
+thus spoiling the work and entailing expense upon the coiner. The
+tubes which are used in the Royal Mint are made by Messrs. Benhams
+and Froud, of Chandos Street, Strand, who, after considerable pains,
+arrived at a method of making the tubes in such a manner as to entirely
+satisfy the requirements of the Mint. The tubes A are placed on an
+iron carriage B, which is then run into the furnace, as shown in Fig.
+5. The door of the furnace C is closed by raising the counterpoise D;
+the heat of the furnace is regulated by the damper E. The apron F is
+sometimes of use in annealing very long silver bars. After remaining
+in this furnace for twenty minutes, the carriage is withdrawn, and
+the tubes, taken with tongs, are plunged into cold water, to cool the
+gold as rapidly as possible. The rapid cooling of gold and silver
+gives to each metal a peculiar character, which is of value in the
+after processes, and prevents the access of the atmosphere, which, in
+prolonged cooling, would cause the oxidation and consequent removal of
+so much copper that the alloyed metal would become too rich in gold
+for circulation as coin. The annealing of some metals is effected not
+so much by the continued heat as by the slow cooling; it is therefore
+wise to raise the metal to its full heat as rapidly as possible, and
+then so to arrange matters that it may cool very slowly. This method
+does not hold good in the case of the precious metals and of copper,
+for they become, under such treatment, so soft, malleable, and pasty
+as to stick to the machinery, and thus to cause considerable trouble
+and loss. After annealing, the bars, which are now called _fillets_,
+go again to the breaking-down mill, through which they are passed with
+the scale indicating 8·50, then at 7·00, and after this are submitted
+to another pinch without altering the scale at all; so that what is
+called a _spring-pinch_ is given, with the intention of effecting the
+reduction of the fillet to one uniform thickness, for the breaking
+down and subsequent rolling cause the fillets to become much thicker
+in their middle than at their sides. The spring-pinches reduce this,
+while at the same time they diminish the elasticity of the metal, and
+fit it for the other mills. It will be seen, by reference to the above
+table, that the widening of the fillet is very trifling; but width may
+be gained to any desired extent, at the will of the workman, if the
+bars be submitted to a heavy pinch instead of a series of light ones.
+The fillet having been submitted to the fourth spring-pinch, is gauged
+on its side by a steel instrument, of which Fig. 6 is a representation.
+It is a hollow wedge, which is graduated to the thousandth of an inch.
+Supposing that the opening from A to B were extended until it were
+one inch wide at A, the space would be divided between it and B into
+1,000 parts, and then every fillet passed into this opening would stop
+at a given point, say, for instance, at 140; such being the case,
+every part of the same fillet should be arrested precisely at the same
+point. The fillets are reduced till they measure 117 on this gauge,
+and are consequently 0·117 inches thick. They are then passed to the
+next mill, where they receive four light pinches, and then to a third
+mill, where they receive two more very light pinches, and by means of
+these six pinches are reduced in thickness to 0·075 inches. They then
+pass to another mill, still finer than any of the preceding, and here
+are submitted to four very light pinches, by which they are reduced to
+0·058 inches, and are finally finished at the sixth or gauging mill,
+where they receive three pinches, and are then 0·053 inches thick by
+1·829 wide.
+
+[Illustration: Fig. 6.—Small Gauge.]
+
+[Illustration: Fig. 7.—Gauging Mill.]
+
+[Illustration: Fig. 8.—Ansell’s Standard Gauge.]
+
+The gauging mill is of different construction from the other mills, as
+may be seen by reference to Fig. 7, where the rollers A are seen in the
+act of reducing a fillet. The upper roller is fixed in brasses loosely
+clamped together; the upper brass, B, being firmly bolted to the main
+frame of the mill by the screws _c_, while the lower one C, which
+carries the weight of the roller when it is running empty, is supported
+by spiral springs shown at D. The lower roller works on a brass, E,
+which rests on a wedge shown at F; the brass being cut to fit the
+wedge, so that it may become similar to a solid mass, irrespective of
+any motion given to the wedge. By this mode of adjusting, a difference
+of the 0·001 of an inch may be made with ease between the distance
+of the rollers, and, consequently, in the thickness of fillets which
+may pass between them. The wedge F is moved forward and backward by
+the screw G, which itself has motion from the gear work H, by the
+handle I. Directly a fillet is passed between the rollers, the topmost
+one is forced against its upper brasses, and further upward motion
+becomes impossible. The weight of metal in this roller gives rise to
+irregularities in the thickness of the fillets which pass from this
+mill, causing much trouble and some expense; therefore it is proposed
+to support the upper roller by a similar arrangement to that which
+affects the lower roller, and to keep it rigidly against the upper
+brass, but with just so much pressure as its own weight would induce
+were circumstances reversed, and by these means to relieve the fillet
+from the weight of the roller, because that has an undue influence on
+each end of it. The gauger of fillets requires other tests besides that
+of the thickness of the edge of the fillet, so he punches out a blank
+from an occasional fillet by a hand-press, the cutter of which is shown
+at J, Fig. 7, worked by the handle K, through the screw L. The blank
+falling through the bolster of the cutter is caught at M, and is then
+weighed in the hand scales N, against a standard weight, from which it
+must not vary more than 0·50 grain. O, Fig. 7, is the gauge actually
+used by the workman; Fig. 6 represents the standard gauge used only
+by the officer in charge to check the work at its various stages. He
+has in addition a gauge of great accuracy, by which to measure the
+fillets at any point, as to width and thickness. This gauge will be
+more intelligible by reference to Fig. 8. A is the handle, which is
+hollow; B is a lever attached to the flat rod of copper C, which at D
+is cut with a rack, into which a pinion E is made to work. The pinion
+E works on a shaft, the upper end of which carries a hand F, provided
+with a vernier G. If now the handle A be firmly held by the hand,
+while the thumb be made to press the lever B towards the end of the
+handle, the rod C is set in motion, and causes the hand G to travel in
+the direction of H. The rod C rests on another rod I, made of steel,
+and so long as to pass into the handle of the instrument. The ends of
+the rods C and I are fitted at _b_ with steel shoulders, and are then
+continued, as represented, to _a_. If it be desired to measure the
+thickness of a fillet, the points _a a_ and _b b_ are caused to open by
+pressure applied to B, and the fillet is placed between the points _a_,
+when a spring fixed in the box K brings back the rod C as soon as B is
+gently released, and encloses the fillet. The separation of the points
+_a_ by the fillet causes the hand or indicator G to stand at a point
+from zero, which is then read. The scale is divided into 500 parts;
+and if the points be opened 0·50 inch, the hand makes one revolution;
+so that the ·001 of an inch is gained by one reading. But each 0·001
+is subdivided by the vernier into ten, so that a ten-thousandth part
+of an inch is read without trouble. To measure the diameter of a blank
+coin, or the width of a fillet, it must be placed between the points
+_b_; but since the extreme graduation of this gauge is 0·50 inch,
+it is necessary, if it be desired to measure a larger diameter, to
+press back the lever B till the zero of the vernier G reaches 0·500
+on the scale H, and hold it there while a clamp is made fast at the
+spot indicated by the star (*), to prevent the motion of C without I.
+When the clamp is fixed the rod I must be drawn out till the zero of
+the vernier reaches that of the scale H, when the screws J must be
+tightened to retain I in its new position, with half an inch permanent
+opening between the points _b_ and between the points _a_. In a new
+measurement, that permanent 0·500 must be added to the reading. This
+arrangement admits of measuring up to 3·5000 inches, to which limit the
+gauge is extremely accurate. The instrument was invented by myself,
+because I found it difficult to convince the men that the fillet was
+thickest in its middle, and consequently heavier there than it should
+be; and, unfortunately, that the workmen habituated themselves to
+attributing this fault to each other, when its existence was proved.
+The fact was, that under the system which had prevailed, the men—with
+a view to make bad work for a specially-designed reason—would set the
+upper rollers at varying angles, so that a fillet at one mill would
+have one thin and one thick edge; and when that fillet passed through
+the next mill, the angle of the roller being altered, would make both
+edges alike, but the effect of the manœuvre was to push the metal into
+the middle of the fillet, and thus to unfit it for the draw-bench.
+Hence the necessity to fix where the blame should rest, and the
+production of this instrument, under my direction, by Mr. C. Becker, of
+30, Strand, at once overcame all those difficulties.
+
+[Illustration: Fig. 9.—Small Shears.]
+
+[Illustration: Fig. 10.—Flatting Mill.]
+
+The fillets are weighed from the rolling room to the drag room, where
+they are finally adjusted; for with every energy, discretion, and
+skill, FILLETS CANNOT BE OBTAINED OF UNIFORM THICKNESS BY SIMPLE
+ROLLING. In the drag room the fillets are taken to the small shears,
+Fig. 9, by which one end of each fillet is trimmed so as to render it
+square. The plates A are fixed to the head of a T-shaped lever, which
+is caused to oscillate by a cam beneath the floor. The plates A shut
+against a face of steel fixed to a block, and held by the screws shown
+at B; if therefore the end of the fillet be passed between the plate A
+and the face of B, each oscillation causes the cutting off of so much
+as protrudes, the pieces cut off falling into the box C, which has now
+been enlarged so far as to form a pan all round the top with a view
+to catch all of them. D forms part of a chain, by which the shears
+are thrown out of motion. The fillets, having been trimmed so as to
+render their ends square, are next passed to the extent of about two
+inches between the rollers of a flatting mill, shown in Fig. 10, which
+reduce that part of the fillet to about two-thirds its thickness. A
+A represent a pair of small rollers, the upper one of which is cut
+with three flat faces, so that it has three rounding and three flat
+surfaces; hence, when both rollers are revolving, there are spaces with
+openings between them; but when the rounding faces come down, those
+openings are much narrowed, so that any fillet placed between them
+becomes thinned to just such an extent as may be deemed necessary. The
+rollers travel in opposite directions, so as to cause the expulsion
+of a fillet placed between them. The reverse motion is gained as
+follows:—The upper roller is driven by B, which receives its motion
+from the little pinion C, carried on the shaft which also supports D.
+D reverses the motion of E, which is driven from the drum F. E also
+drives G, which gives motion to the lower roller. The fly-wheel H
+is borne at the extreme end of the shaft which carries F and E. The
+fillets are rested on J while being _flatted_, and are, after flatting,
+placed in the trough K, from which they are taken to a rolling mill in
+the drag room, of precisely the same construction as that exhibited at
+Fig. 7, to be passed twice through at equal pinches, with a view to
+render them still more accurate than they were when leaving the rolling
+room, as well as to reduce them to the exact thickness at which the
+trier has found they will produce the best work at the draw-bench. The
+rolling mill in the drag room was provided with steel rollers. Steel
+rollers are of somewhat recent invention, and seem to have received
+a high character from those whose opinion may be modified by further
+experiments more accurately made. My opinion, founded on experience,
+is to the effect that they are not worth their extra cost; but that
+their usefulness may be more fully developed when they shall have been
+fitted with the arrangements proposed for the gauging mills before
+explained.[19] After these alterations have been made, it may fairly
+be questioned whether steel rollers will, under circumstances every
+way similar, produce better work than is produced by the ordinary
+chilled-iron rollers; in other words, I believe that steel is not a
+better substance for rollers than chilled cast-iron. Those who have to
+sell, and those who have to use, have, of course, different motives;
+he who has to use a machine should judge calmly, and not be led away
+because the invention is new. It is amongst these considerations that
+I am convinced that steel rollers do not save money; for if they wear
+longer without getting out of order, they also require a longer time
+to put them again in order. Rollers, made from whatsoever substance,
+cannot reasonably be expected to produce a fillet from every part of
+which blanks of equal weight can be struck, because it is not yet
+possible to produce a compound of equal hardness throughout; but if the
+construction of the mill be altered, steel rollers may approach nearer
+to that perfection which is gained by the draw-bench, but they can
+never replace it. The fillets are taken from the mill to the draw-bench.
+
+[Footnote 19: See page 23.]
+
+[Illustration: Fig. 11.—Draw-bench.]
+
+[Illustration: Fig. 12.—Head of Draw-bench.]
+
+Fig. 11 represents the _draw-bench_, the name of which is retained,
+as being in fact its only appropriate one. The _flatted_ end of each
+fillet is passed into the opening shown at A. The _dog_ A´ is then
+run up till its teeth seize the fillet. The lever is depressed until
+one of the hooks O catches a bar of the circulating chain P, which
+in its onward motion drags the dog, and causes it to bite the fillet
+and _draw_ it through the opening at which it has been entered. P
+gets its motion from a notched cam, the axle of which is shown at Q.
+There are two distinct chains to each draw-bench, and there are two
+distinct draw-benches, so that one description does for both double
+ones. R is a cogged wheel, the shaft of which, Q, carries two notched
+drums, and each drum gives motion to a chain, so that both chains
+travel at the same pace. R is set in motion by the pinion S, on the
+shaft which is driven by the wheel T. T is driven by U, which is on
+the shaft driven by the strap and drums V. Fig. 12 is a representation
+of the head of the draw-bench, and in studying this engraving it will
+be well to refer at the same time to Fig. 11. The dog takes its name
+from its resemblance to the head of a bull-dog. It consists of a pair
+of levers, whose long arms extend beyond the axle-tree of the wheels
+nearest to O, and whose shortest arms are formed by the passing of the
+other axle-tree through the lever. The teeth are set at the front of
+the short arms. The axle-tree near O is fixed to the bars forming O,
+and runs loosely between the long arms of the lever, so that when O is
+pulled forcibly it causes the axle-tree to open the long end of the
+levers, and thereby to close the short end or teeth of the dog, the
+more rigidly in proportion to the pressure exerted at O. Directly the
+fillet has passed through the cylinders the dog springs slightly by the
+elasticity of the fillet, and thus releases itself from the chain; at
+the instant of release the weight over the foremost wheels falls, and
+by its fall lifts the hooks O so high as to admit of their escaping
+contact with the circulating chain P. The position of the teeth of
+the dog is shown by A in Fig. 12. The flatted part of the fillet is
+just so thin as to admit of its passing easily between the cylinders
+B until seized by A, but the part which is not thinned comes against
+the cylinders B, and requires considerable force to drag it between
+them. The cylinders B do not rotate; in fact, they may be considered as
+forming part of a solid mass.[20] The lower cylinder is laid on the bed
+C, and is clamped there by a cheek fastened on to C by three screws,
+the holes for which are shown on C; the upper cylinder is fixed to
+the mass D by a precisely similar arrangement. The beds C D are held
+perpendicularly by the points of the screws E; and we may now view the
+cylinders as secured to, and forming part of, their beds. The distance
+between the cylinders is regulated by the capstans F, which separate
+the beds of the cylinders, and so separate the cylinders. The accuracy
+of this adjustment is all-important, because the distance between the
+cylinders determines the thickness of the fillet which passes between
+them. The bed D of the upper cylinder is required to be movable at
+pleasure; it is therefore provided at G with four wedges, two of which,
+_c c_, are cut so that if looked upon from the top a round hole shows
+itself, and through this hole the end of the screw, which at this
+point L is plain, and has a neck turned in it, passes, with its head
+beneath the wedges and against the lower G. So soon as this is effected
+the wedges A B are pressed into their places, and these holding _c c_
+together, cause them to secure G by its neck; if, therefore, G be now
+caused to rise, the block D must rise with it, but the head of this
+screw rests on the solid block D, while its neck is just so long as
+to admit of this without itself being pressed against the wedges _c
+c_. G is a very fine-cut screw which fits into a female screw cut in
+the frame of the head of the draw-bench; it is moved to any distance
+varying from the hundred-thousandth part of an inch (0·00001) and
+upwards by the wheel H, which receives a very minute motion from the
+pinion I by means of a lever fitting into the capstan head J. K was
+originally intended to be used to set or fix the screw G when it had
+been brought to its proper position, but it is not used; for, in fact,
+the cylinders wear away appreciably by the passage of the fillets, so
+that they constantly require to be brought nearer together to make up
+for this wear. With some species of gold the friction is so great that,
+although oil is used, the cylinders become so hot as to render the
+gold pasty; in such case a kind of welding takes place, which causes
+the tearing of the fillet. If this extreme point be not reached, as
+indeed it seldom is, the cylinders become of varying temperatures,
+and so great is the effect of this, that in order to compensate for
+it, the upper cylinder has to be continually raised or depressed. The
+beds which carry the cylinders become worn by the strain and fret,
+and require grinding out at intervals; therefore, to allow for the
+difference which this would make, screws N are provided, by which the
+cylinder in the lower bed can always be raised to its proper position.
+We cannot but admire the ingenious productions of inventive minds;
+and surely if ever there were a marvellous machine for assisting the
+coiner, it is this; indeed, it may be doubted whether a more admirable
+instrument for its purpose can be contrived. Sir John Barton, who
+invented and directed the making of it, took into consideration every
+circumstance which could possibly arise, but he never saw practically
+the full advantage of his conception. Under my direction, this machine
+was so used that the average work produced was very favourably compared
+with the trials recorded by Sir John Barton, and details of which were
+given to me by the late Mr. W. H. Barton. There are some persons who
+smile at the draw-bench, but it is one of those inventions which will
+outlive its detractors, at least, so long as economy and perfection
+are points to be studied in coining. Foreign Mints are said to have
+found no advantage in the use of the draw-bench. It is to be regretted
+that they have not found a man with sufficient intelligence to use
+so accurate an instrument; it is surely not the fault of the sun if
+men are blind to its splendour. Mr. J. Martin, of the Paris Mint, has
+recently made some very accurate experiments with the draw-bench,
+and has produced results every way in accordance with those obtained
+by me in the Royal Mint, and is convinced that the draw-bench may be
+considered as the coiner’s right hand.
+
+[Footnote 20: As the cylinder wears, the screws of C may be loosened
+to permit the shifting of the abraded part, so that the whole
+circumference of the cylinder may be used.—See also page 31.]
+
+Against all sound advice the Master had been induced to buy a pair of
+steel rollers, at a cost of £800 (I state the sum on the authority of
+Mr. W. H. Barton, who, being Comptroller at the time, probably knew the
+actual cost), and with these I made an elaborate series of experiments,
+extending over many weeks. The results were wholly adverse to the
+new rollers—others arrived at the same conclusion—and I reported to
+the Master, in writing, on the facts as I found them, showing that
+the average gave an advantage of 19·92 per cent. in favour of the
+draw-bench, and on this ground I maintained the superiority of that
+machine. He replied by a peremptory order, directing me “to prohibit
+now and for ever” the “use of the draw-bench, and to take measures for
+its removal from the Mint.” Thus absolved from responsibility, I—after
+making a written protest—obeyed that which I could no longer withstand.
+The result was that the rejected blanks, which had averaged 3·60 per
+cent., now advanced to 23·52 per cent. I was unable to avoid this great
+expense, and when I spoke to him about it he was not very amiably
+disposed; however, he finally wrote me the following note, on which I
+remarked to him “that steel rollers, whether driven by cogged wheels or
+by straps, would still be steel rollers.”
+
+    “_7th June, 1861._
+
+    “DEAR SIR,
+
+    “In the cutting and adjusting room you may return to the use of
+    the draw-bench till the gearing of the steel rollers is altered.
+    I had overlooked the circumstance that in the United States Mint
+    cogged wheels are not used for that purpose.
+
+                                    “Yours truly,
+                                            “THO. GRAHAM.
+    “G. F. Ansell, Esquire.”
+
+It is satisfactory to me to find that Mr. Fremantle confirms the
+opinion at which I had arrived. He says (“European Mints,” page
+9):—“The adjustment of the fillets after rolling is in some European
+Mints performed by the draw-bench, as in England. In others it is
+performed by carefully adjusted rolling mills only. The experience
+acquired both in this country and abroad tends to show that it is
+advisable to retain the draw-bench—at any rate, until some more
+accurate method is found of equalising the fillets and reducing them
+to their correct thickness.” If Mr. Fremantle will investigate for
+himself instead of being guided by the opinions of others, he will
+rigidly follow the correct conclusion at which he has arrived; if,
+however, he will look in the drag room in the Royal Mint, he will
+discover evidence of the former existence of a series of rollers which
+were replaced by the draw-bench. Yet one of his co-travellers, who is
+manifestly willing to make experiments, says of the draw-bench, “Still
+it has yet to be proved that it can compete in sustained accuracy
+with a well-constructed rolling mill.” Quite true; but I think the
+answer holds good, and any one who would replace the draw-bench by
+rolling mills—which have hitherto failed—should, as Sir John Barton
+did, prove his proposition otherwise than at the Government expense,
+and then on success obtain fair remuneration. Before leaving the study
+of this instrument it is right that I should mention that Mr. John
+Murray, of the Royal Mint, has added immeasurably to the value of
+it by inventing a most ingenious machine for grinding the cylinders
+(see B, page 28) with accuracy, so that those cylinders which have
+been used can with ease be, as it were, repaired. In justice to Mr.
+Murray I should add that I omitted all mention of his invention in any
+former issue, because some principal contractors were to my knowledge
+intending to make him an offer of a sum of money for it, and under such
+circumstances I could not think it right to give a description of it. A
+like feeling induces me to postpone to another occasion details of this
+clever contrivance; its simplicity is such that a mere outline would
+put a maker of instruments in possession of means for its construction.
+
+The fillets which have passed between the draw-bench cylinders are cut
+into lengths of about 18 inches by the shears shown at X, in Fig. 11,
+and are then sent to the trier, who by means of a hand-press similar
+to, but more delicate than, that shown at Fig. 7, punches out one or
+two blanks from each length of 18 inches, and weighs it, or them,
+against a standard weight, and in accordance with his judgment directs
+the fillets to be cut by the boys or men at the machines. The trier
+allows 0·20 grain on the pound of blanks for the loss which afterwards
+occurs by annealing.[21] If, however, the bars, as previously
+suggested, were cast uniformly of the thickness of 0·50 inch, this
+allowance, which is equal to a value of £34 8_s._ 7½_d._ on each
+million, need not be made; but in fact, as will be seen, even this is
+not sufficient to cover that loss under present circumstances.
+
+[Footnote 21: See page 48.]
+
+Not only has it become a habit to smile at the draw-bench, but every
+unfair attempt has been made to get rid of it. Officers were abused
+because they would not report against it, and the machine itself was
+submitted to usage never contemplated by the inventor. The then chief
+coiner, who had formerly seen soap used in calico works in Manchester,
+insisted on using soap-suds, whereby the beds for the cylinders became
+rusted, the cylinders destroyed, and the whole machine thrown out
+of gear, so that 30 per cent. of all the work was rejected: these
+perverse trials, extending over weeks, appeared to throw discredit on
+the draw-bench. Having been a calico-printer, that officer endeavoured
+to engraft on to the processes of coining some of the practices
+adopted in that business; but had he duly appreciated the principle
+on which the draw-bench acts, he could not have attempted the use of
+soap-suds, or, at least, on its complete failure would have assented
+to its disuse. The very first object of the draw-bench is to produce
+just so much friction as will cause the lateral displacement of the
+molecules of the metal then under its operation. Soap, when it adheres
+to the bullion, permits the fillet to pass without friction, and
+when it is scraped off by the cylinders the gold becomes so hot from
+friction that the hand cannot with safety touch it; hence there are
+alternating parts of the fillet very hot and absolutely cold, and, as
+a consequence, no two blanks can be obtained of equal weight. Sir John
+Barton not only made the machine, but determined also that oil was
+the only fit lubricator for metal made to pass through the cylinders
+of the draw-bench. Forgetful of the immediate wear on the surface of
+the metal, others have attempted to replace the cylinders by wedges of
+steel, so made as that a constant stream of cold water should keep them
+cool when in operation. This also failed from the formation of rust,
+while the work produced never equalled that obtained from cylinders.
+The proper use of the draw-bench is to reduce fillets to an equable
+thickness in every part, and this can only be done when the trier,
+after studying the quality of his metal, has determined how much he
+can remove by once passing through the cylinders; then by keeping up
+a constant succession of fillets, properly smeared with oil, so that
+the equable friction always maintains them at the same temperature.
+Under such circumstances, and with a remedy of 0·24 grain, the rejected
+should not exceed 2 per cent., and this on the whole day’s work should
+contain half its weight of light and the other half heavy blanks. This
+also was a curious instance of want of knowledge on the part of that
+controlling officer, who for years maintained that if the work were
+properly conducted _all the rejected_ should be on one side of the
+remedy.[22] The fillets, notwithstanding the draw-bench, cannot be
+brought to perfect accuracy, and to meet such variations as arise, a
+difference is made in two of the cutting-out punches by altering their
+diameters to such an extent that a blank cut by them from a standard
+fillet would vary in weight from a blank cut by a standard cutter from
+the same fillet. One cutting-out punch is so altered that a blank
+would be 0·125 grain, and the other that a blank would be 0·250 grain
+heavier. This admits of a fillet otherwise too thin being used; but if
+the fillet be found to err on the other side, it is passed once more
+either through the draw-bench, or through the mill at a spring-pinch.
+The trier, Mr. William Fenton, is a peculiarly steady man, possessing
+a calm judgment, with considerable energy, and upon him depends the
+accuracy of the whole process of coining; he has not unfrequently so
+managed his work that upon 5,000,000 of sovereigns coined, he has been
+within one sovereign of the calculated value.
+
+[Footnote 22: See page 39.]
+
+The fillets, having been thrown by the trier into the receptacles which
+indicate the particular cutting-out punches to which they are to be
+taken, are fetched by a man, who wipes off the oil, and then carries
+them to the cutting-out room, where the fillets are cut into blanks
+and scissel. In this place it may farther be noticed that soap-suds
+cannot be used in the place of oil, because the soap could not be
+removed without washing,—a practical impossibility,—and would therefore
+remain, and add indefinitely to the weight of the gold, and thus open
+the door for peculation. The cutting-out presses used in the Royal Mint
+are very cumbersome, and when in operation are terribly noisy: it is
+therefore hoped that at no distant period they may be replaced by some
+of a far more simple construction; but it is believed that under all
+circumstances it will be found wise to adhere to the plan of cutting
+out a single blank at each descent of the punch.[23] For bronze it
+is well to obtain five or more blanks at each blow, but the limited
+variation of weight allowed by law on blanks of the precious metals
+would render this false economy. Fig. 13 represents one of the twelve
+cutting-out presses, which are all driven by the wheel A, provided
+with a series of cams on its outer rim; one of these cams, B, is in
+the act of striking the friction roller C, which is attached to, and
+forms part of, the lever D. D is fixed to an upright shaft E, which
+at F is cut with a screw thread working into a female screw fitted
+into the main shoulder of the press at G. If now the cam B strikes
+C, and throws it outwards, it causes the shaft E to take a part of a
+revolution, and in so doing the screw F makes it rise and carry with
+it the block H, whose tendency to circular motion is prevented by a
+plug fitting into its groove, and fixed in the guide I. The lower end
+of H carries the screwed cap J, which supports the cutting-out punch,
+so that when E rises it carries the cutting-out punch through just the
+same distance that itself travels upwards. The cutting-out punch is
+now ready for action, and is released by the continued revolution of
+the wheel A, as will be seen by the figure; but as it could not fall
+with sufficient force of itself, assistance is rendered by the pressure
+of the atmosphere, as will be seen by the following arrangement. The
+lever D is provided, near its junction at E, with a loop of iron
+travelling on a screw, so that it may be moved farther from, or nearer
+to, the centre of action, and thus admit of the increase of power.
+This loop of iron is represented by K, and is continued by a rod of
+iron across the upper part of the room and through a hole in the wall
+to a system of levers L, from which a rod is suspended, the lower end
+being connected with a piston working in the chamber M. The chamber M
+is an hermetically-closed vessel secured to a stone firmly fixed in the
+floor. The piston works in this chamber, and is covered with about two
+inches of oil, which prevents the access of the atmosphere by leaks to
+any part beneath the piston. If the piston, therefore, be raised from
+the base of the chamber, a vacuum is produced in that portion from
+which the piston is removed, and consequently the atmosphere presses
+on the surface of the oil, which in its turn presses on the piston,
+and carries it down (the reverse of the action explained by Mr. James
+Napier in “European Mints”); in its fall the piston pulls down the
+cutter, which has been raised; for the same blow which raises the
+cutter also raises this piston; therefore, when the cutter is raised
+the workman places the fillet N, from which blanks are to be cut, on
+the bolster, shown at O, and holds it firmly while the cutter descends
+and punches out a blank, which falls through the bolster into the
+drawer P. By the time that the down stroke of the cutting-out punch is
+complete, the wedge Q has entered a slit in the spring R, and strikes
+the spring, thus throwing the machine back, and preparing it to start
+when the cam B shall strike the friction roller C. The point at which
+Q may strike R is determined by a screw near the left-hand T. The
+upright shaft E, which is partly hollow, terminates at a flat cogged
+wheel, and the upper part of F is made to pass into E; while at S is
+an arrangement which serves to detach or connect these pieces, that
+the cutter may upon occasion be used by the hand by means of the lever
+T, as well as to admit of the necessary alterations, as the punches,
+by regrinding, become shorter. The cutting-out punch, when it rises,
+carries with it the fillet from which the blank has been punched, until
+the fillet comes against the guard W, which detaches it.
+
+[Footnote 23: See p. 169.]
+
+[Illustration: Fig. 13.—Cutting-out Press.]
+
+The fillets from which the blanks have been punched have the appearance
+of ribbons perforated with round holes, and are now called _scissel_
+(from the Latin _scindo_, to cut). These are thrown into a tray, U,
+from which they are taken at intervals, and bound up by strips of the
+same into bundles of 180 ounces—in the case of silver 360 ounces—ready
+for re-melting. The cutting-out press is set at liberty to start by
+the workman pressing his foot on a lever in connection with the line
+and spring indicated by V; and so long as he keeps this lever down,
+the press is worked continuously, but when he releases it the spring
+catches the extreme end of D, and motion is arrested. The blanks
+which accumulate in the box P are collected at frequent intervals and
+examined, to see that their edges are smooth; if they be ragged, as
+may happen from the wear or fracture of the edge of either the cutter
+or bolster, a loss would be entailed in after processes which would
+cause the coin to be outside the prescribed limit, and to pass at an
+illegal weight into circulation, as the rough edges would be removed
+after the weighing of the blanks had been effected. According to
+the quality of the work—the character of the gold—under operation,
+the trier tests more or less frequently the variations of weight in
+a given number of blanks. This process is called POUNDING, and is,
+next to the _trying_, the most important of his duties; if such an
+expression can be admitted, he has, by _trying_, fired his shot, and
+here determines if he has hit the bull’s-eye, all depending on his
+own unaided judgment. The gauge, Fig. 8, is found of great service in
+detecting irregularities as to diameter and thickness, which would not
+be, and are not, detected by weight, for the weight may remain equal,
+although both diameter and thickness may vary. All these points require
+considerable care on the part of those whose duty it is to attend to
+them; for the quality of a coinage is determined in this room: blanks
+which once leave it cannot be afterwards altered. The subsequent
+operations, being purely mechanical, would be quite as well performed
+by automaton machines.
+
+The completing processes form undoubtedly the prettiest and most
+interesting part of the operation of coining; nevertheless the
+processes already described constitute its most essential features.
+The blanks are weighed from this room in drafts of about 720 ounces,
+and placed in bags; each bag, therefore, contains four _journeys_ of
+about 180 ounces each. The term _journey_ is said to be derived from
+an old French word, but circumstances render it probable that this
+derivation has been applied by others than the original inventor of
+the word, for it manifestly was not used by the coiner of it to imply
+a “day’s work.” I cannot find an author who gives a time at which 720
+ounces of silver became a journey, while 180 ounces of gold were also
+called by the same name. It must have taken far longer to coin 720
+ounces of shillings or groats than to coin 180 ounces of sovereigns or
+half-sovereigns; hence the same word could never have been intended to
+mean “a day’s work.” Be this as it may, it is time that such names gave
+place to more appropriate and expressive terms. It is to be hoped that
+500 ounces will become the standard maximum weight for bags of either
+of the precious metals; such a system would be the means of reducing
+the chance of error, it would have an actual meaning, and would be a
+convenient weight for a man to lift to and from a scale-pan. When such
+a measure shall be convenient to the officers of the Bank of England,
+that institution will subserve the interests of the Mint by adopting it.
+
+In a paper recently published by the Commissioners on the International
+Coinage (at page 228) it is stated that “in the British Mint 15 pounds
+troy of standard gold are coined into 701 sovereigns nearly (15 lbs. =
+£700 17_s._ 6_d._).” This statement does not exactly convey the truth,
+and is calculated to mislead, because such an operation is not, and
+never has been, conducted in the British Mint, where the invariable
+rule is to abide rigidly by the law, and to coin 20 pounds troy weight
+of standard gold into 934·50 sovereigns, as specified in the Mint
+Indenture, now replaced by the Act of Parliament, 33 Vict., cap. 10.
+Of these sovereigns so coined, 701 are placed in a bag, and called a
+_journey_; but by a Mint fiction the journey was considered by the
+old moneyers, and yet more ancient weigher and teller, 15 pounds troy
+exact, because the parts of an ounce were difficult of addition; and
+this was maintained until 1860, when a disputed weight with the Bank of
+England as to the value of the deliveries corrected that which I had
+previously pointed out as an error. It is now the custom to consider
+a journey as consisting of 180·03125 ounces, instead of, as it is,
+180·03210 ounces, an error of ·00085, which has a money value of about
+6_s._ 7½_d._ on each delivery to the Bank.
+
+[Illustration: COTTON’S PATENT AUTOMATON BALANCE.
+
+WITH PILCHER’S IMPROVEMENTS.]
+
+The bags of blanks should[24] be carried forward to the room in which
+the weighing of the individual blanks is effected by Mr. Cotton’s
+automaton weighing machines. Mr. Cotton’s weighing machines form
+perhaps the most elegant and clever invention of modern times. They
+effect the process of weighing far more accurately than man can hope
+to do, and with extraordinary accuracy determine the weight of about
+twenty-three blanks per minute. Peculiarly admirable as are these
+machines, their perfection has been greatly increased by improvements
+suggested by Mr. Richard Pilcher, who has immediate charge of those in
+the Royal Mint. Mr. Pilcher, whose inventive genius is only equalled
+by his desire to give to the public the benefit of his inventions,
+has rendered these automaton balances serviceable to the Mint;
+whereas, when they left the hand of Mr. William Cotton, they were
+of great service to the Bank of England alone, for there only two
+determinations, or in fact one determination is necessary. In that
+institution it is required to show that the coins issued by it are not
+below the legal weight for circulation, whereas the Mint must guarantee
+that coins leave its works neither above nor below the limits fixed
+by law: hence the necessity for the incorporation of Mr. Pilcher’s
+improvements with Mr. Cotton’s beautiful invention.
+
+[Footnote 24: See pages 42-44.]
+
+After reading the letter of Mr. James M. Napier in the _Times_ of
+September 2nd, 1869, I can but express my surprise that that gentleman
+has not seen fit to acknowledge Mr. Pilcher’s modifications instead
+of claiming for himself all the credit, when a part only—and that
+undoubtedly an important one—is his due.
+
+The steel engraving exhibits a view of COTTON’S automaton machine as
+used in the Royal Mint, where seventeen such machines are employed.
+For the purpose of illustration, the brass side of the machine has, in
+imagination, been torn away, as also has the top of the machine. To
+obtain the highly-finished drawing from which this engraving was made
+was a matter of no ordinary difficulty, but it was accomplished by the
+skill and assiduity of Mr. E. S. Gibson, to whom my thanks are due, as
+well as to Mr. J. W. Lowry, for the pains he has bestowed in executing
+the engraving.
+
+The whole theory of this balance rests on the fact that the centre
+of gravity and the centre of action are in one line: either being
+disturbed, the balance is no longer equal. The machine gains its
+motion from a shaft fixed to the ceiling of the room. Steam contained
+in a boiler exists under an ever-varying pressure, arising from the
+amount of work which it may be necessary for the engine to perform,
+or from the irregular combustion of the fuel, as well as from other
+causes. Since it is of the utmost importance that the automaton balance
+should be made to maintain a uniform pace, Messrs. Napier and Sons
+found it necessary to drive the shaft which gives it motion by a
+small atmospheric engine, which is placed in the weighing room. It
+has been found that a chamber may be kept equably exhausted of air,
+if the atmosphere be admitted to it by a uniformly weighted valve.
+Such a chamber—to be described presently—is used in the Mint for other
+purposes, and Messrs. Napier conducted from this a pipe, by the agency
+of which the atmospheric engine is worked with a far more even and
+steady motion than could be obtained by steam; in fact, the exhausted
+chamber becomes a regulated spring, which softens down the variations
+in the motion of the steam-engine. The shaft supported by the ceiling
+conveys its motion to the weighing machine by a line A, which, passing
+over the friction wheels B, circulates round the stepped wheel C,
+which runs loose on the shaft communicating with E. The line A is
+maintained with sufficient rigidity by a weight D, which is suspended
+at the end of the lever carrying the friction wheels B. The weight D
+is just sufficient to insure the continuous working of the machine,
+but is so light as to permit the line A to slip on C in the event of
+anything going wrong in the works of the balance. When the machine
+is to be set in motion, a kind of cheek is made—by screwing—to touch
+the face of the wheel C, and thus, by friction, C gives motion to the
+wheel E. This is an elegant mode of meeting a chance of accident, for
+in the event of the weight D proving to be too heavy, any extra force
+simply disconnects this cheek from the face of C, and so stops the
+machine. The machine having been set in motion, E, by communication
+with the wheels F, all of which are driven by it, causes the cam G to
+push forward the lever H, which, terminating at I, pushes forward the
+flattened continuation of I indicated by dotted lines, until it moves
+a blank placed in the collar J, at the bottom of the hopper _h_, on
+to the scale-pan K, which, for the sake of clearness, is isolated,
+and will be seen behind the machine and under the extreme end of the
+hopper. So soon as the blank coin has been placed on the scale-pan K,
+the cam L lowers a lever _n_, the office of which is to permit the
+opening of the forceps M, and thus to release the rod, Q, dependent
+from K upon the knife-edge R. The forceps are closed by the cam L,
+which raises _n_, and by it compresses an attached spring. The forceps
+are intended to hold _this_ rod Q while the blank is placed on K,
+because the friction caused by the placing of the blank would have a
+tendency to push K from the knife-edge on which it is suspended, and
+thus blunt its delicate edge. While the forceps are opened the cam N,
+by its partial revolution, lifts the rod O, which is steadied in its
+motion, by a pin rising from it, and entering the inverted arch _o_;
+its lower extremity working into a socket on the table on which the
+whole frame of the machine stands.
+
+Towards its lower extremity the rod O will be seen to branch out right
+and left, until each end passes through a kind of step in the rods Q,
+indicated by P. The office of this rod is to bring the beam, from which
+the rods Q are dependent, to a dead level, as well as to release both
+ends of the beam by one action. At the moment that the forceps M have
+released the right hand rod Q, the cam N, by O, releases both the rods
+Q, by rising from the steps P, thus permitting the beam to determine
+the weight of the blank placed on K. A close inspection of the steel
+engraving will show that the rods Q are suspended from and rest upon
+the knife-edges R of the beam S, which has a centre knife-edge T, by
+which the whole mass is supported and poised. The knife-edges are
+made to find their own planes or resting-places upon curved or hollow
+pieces of steel, thus securing the smallest point of contact with a
+certainty of the smallest amount of friction. In ordinary balances the
+substance to be weighed is placed in a pan, which is on the same level
+as the pan which contains the counterpoise; but in Mr. Cotton’s balance
+this condition is of no consequence, so that the counterpoise rests
+ultimately upon a point which is at the same distance from the centre
+of action as the point upon which the matter to be weighed rests. The
+counterpoise U is placed in a kind of cage, and any variation from this
+standard is at once indicated, even if it reach only to the thousandth
+part of a grain. By law, the weight of a coin may vary to a certain
+extent from a standard weight;[25] the variation or latitude allowed
+is called _remedy_, from the Latin _ad remediam_; and in weighing,
+this remedy is taken advantage of by a contrivance much simplified by
+Mr. Pilcher. The weight of a sovereign is 123·274 grains, but it may
+by law be either 123·474 grains, or it may fall to 123·074[26] grains.
+Mr. Pilcher therefore reduced the counterpoise to the minimum allowed,
+thus avoiding the placing of a remedy-wire for the light side; and he
+then made the remedy-wire _q_ (shown in the first enlarged portion on
+the left-hand side of the steel engraving), which is placed on the
+stand W, upon a peculiarly-formed point indicated by V, so heavy that
+any blank which would not raise it and the counterpoise must be within
+the remedy on the _heavy_ side. In accordance with this arrangement,
+the continuation of the rod Q is terminated by a cage at V; so that
+if a blank be so _light_ as to be unable to raise the counterpoise U
+until the stirrup comes in contact with the remedy, it is too light
+to make a legal coin. This fact being determined, the motion of the
+machine causes the cam X to bring back the rod I (indicated by dotted
+lines), that it may be ready when required to push forward another
+blank, and the forceps M to grasp the rod Q, while the cam Y permits
+the falling of the rod Z, which is nearly counterpoised by the ball _m_
+(the precise length of the rod being regulated by the screw _j_), until
+its finger _a_ rests upon the indicator _b_. The depth to which _a_
+shall fall is fixed by the step _l_ (shown by Q in the second enlarged
+portion of the steel engraving). This is, of course, determined by the
+forceps, securing Q at the position indicated by the weight of the
+blank. The indicating finger _b_ having come to rest, the continued
+motion of the machine causes the cam _c_ to permit the shoot _d_ to
+fall until one of its steps _e_ comes into contact with the indicating
+finger, when the lower part of the shoot must be exactly over, and
+form part of, one of the tubes _k_, which terminate in boxes labelled
+respectively “heavy,” “light,” “medium.” The shoot having taken its
+position, the continued motion of the machine causes the cam G to
+induce the placing of another blank on the scale-pan K, and this blank,
+by advancing, pushes off the one just weighed, which, falling into and
+through the shoot, passes to the compartment reserved for it. Suppose
+the newly-placed blank to be too heavy for forming a legal coin, the
+same operation goes on, but it now lifts not only the counterpoise, but
+also causes the stirrup at V to lift the remedy-weight _q_. This is a
+most delicate operation, for if a blow, however light, be given, it
+would cause unsteadiness in the beam. Mr. Pilcher therefore determined
+to make the carriage W, which supports the remedy-wire _q_, stand upon
+micrometer screws, by which the remedy-wire is made just to touch the
+stirrup, without pressure, while it also rests upon the most minute
+points, formed by cutting away every part of V which is not actually
+required—in fact, shelving it out. The scale-pan K is protected from
+draught by the lantern _f_, while the blanks are directed into the
+collar J by the guard _g_, as they slide down the hopper _h_, which
+at its centre is supported by an upright, _i_. The blocks _p_ are the
+supports which hold all the machinery to the roof of the machine.
+
+[Footnote 25: See pages 71-73.]
+
+[Footnote 26: See pages 73, 123, 124.]
+
+Some new machines have recently been supplied to the Mint by Mr. James
+Napier, but it is not certain that these are cheaper than the old ones.
+That they are lower in price may be admitted, and they are certainly
+more convenient in use, from the fact that the wheels shown at F are
+placed at the back. It is, however, to be regretted that Mr. Napier
+did not introduce into these new machines the recent inventions of Mr.
+William Bradshaw, which are supremely simple, and, now that they are
+effected, one cannot but wonder that so many minds having been engaged
+on these machines, improvements such as these have not earlier seen the
+light. To Mr. Bradshaw, particularly, great credit is due, for he was
+obliged to overcome, not only innate difficulties, but difficulties of
+position, and these latter were of no mean kind. It is to the credit of
+the Mint authorities that they finally adopted these improvements, and
+ordered the necessary alterations to be made in _all_ the machines.
+
+Mr. Bradshaw’s improvements enable the automaton balances to weigh 30
+per cent. more coins in the same time; yet they permit each coin to
+occupy a longer space of time in being weighed. This would appear to
+be a mechanical contradiction, but if reference be made to the plate
+it will be seen that the cam G pushes forward the lever H, which
+ultimately, by the slide, pushes the blanks on to the scale-pan K.
+By altering the shape of the cam G, Mr. Bradshaw causes it to do its
+work more rapidly, and thus leaves the piece on K longer than before;
+but that this time may not be lost, he alters also the shapes of the
+cam L and of the cam N, so that the forceps M are opened, and the beam
+is released more rapidly: thus the balance would be longer in action;
+but to utilise the time ready to be saved, he alters also the driving
+pulley E, causing the machine to make 30 per cent. more determinations
+per minute, and that this may be effected with greater certainty he
+reduced the depth of the step, shown at _e_, to just one-half, so that
+the beam has to travel only half the distance it formerly travelled to
+determine the position of the light, heavy, or medium piece. He next
+proceeded to alter the rod O, because he observed that it received a
+tilting motion arising from its being lifted by a shoulder, as shown
+in the plate. To overcome this defect he made the rod straight up to
+a certain point, where he divided it into a kind of loop which passed
+over the cam N, which, as it revolves, lifts this rod perpendicularly.
+He still found that the cam N had a tendency to push this rod against
+its bearings, especially at _o_, so he placed a spring of brass between
+the top of its loop and the cam N, and secured at one end to _p_, and
+by this contrivance made the cam to lift the brass, and that in its
+turn to raise the rod O. There was yet another difficulty, caused by
+an occasional stoppage of the action of the spring which softens the
+descent of the bearing of the rod O into its lower socket; this he
+removed by cutting a hole in the side of the socket, so that it can be
+seen at once if the spring be in action. I am not one who approves his
+suggestions as to the remedy-wires. These may be the means of saving
+time, but they are wrong in principle, and I do not describe them.
+
+Great inconvenience arose from the collection of dust, spangles of
+bullion, and other foreign matter on parts of the balance. This Mr.
+Bradshaw overcame by two simple contrivances; first, he pierced the
+bottoms of the grooved trays, so that these substances might in a great
+measure fall through while the blanks were being arranged in rouleaux,
+thus separating the largest pieces, which, falling down the shoot,
+would stop its action; and, secondly, he placed a glass shelf midway
+between the table and the beam, that is, beneath the hopper _h_, where
+it terminates at J, and above the beam S, where it is seen near the
+forceps M, thus protecting the beam and forceps. These may appear to
+be trifling alterations,—they are nevertheless to Cotton’s balance
+what the compound metal balance-wheel is to a watch. Mr. Pilcher was
+granted the _magnificent_ sum of £40 for his invention of the file (to
+be described), but it is hoped that Mr. Bradshaw will be rewarded with
+a far more open-handed generosity; for if, by judicious liberality,
+encouragements are offered to those in the Civil Service to give to
+the country the benefit of their inventions, we may still hope that
+even our Government institutions will bear comparison with ordinary
+commercial manufactories as regards the development of inventive
+genius. Nor is this a small matter, for all the working improvements in
+the Cotton’s balance have been made by those whose duty it is to attend
+to their working; yet I am not aware that any acknowledgment, either
+direct or indirect, has been made to the officers concerned. It is
+said that their salaries cover all their time and energy. This may be
+true, but such a policy is not calculated to result in many great steps
+towards perfecting either machines or processes.
+
+It is well to state that the beam in Mr. Cotton’s balance is 8·90
+inches in length, and that its weight is 288·41 troy grains.
+
+Those blanks which are neither too light nor too heavy are called
+_medium_, and are weighed and put into bags for future issue as coins.
+The _light_ are reserved for the melting-pot. The _heavy_ blanks should
+be reduced by means of a peculiar kind of file to the weight of medium
+blanks, and thus saved from being melted, so avoiding further loss
+to the Mint. This file was invented by Mr. Pilcher, who, being the
+officer of this room, considers his duty to be neglected if there be
+any improvement capable of being made, but which is left undone; he
+never tires till the invention is complete and the machine made. Mr.
+Albert Barre, the distinguished engraver to the Paris Mint, declares
+this file to have surmounted all the difficulties he has met with in
+this part of the process. In his own words, “it leaves the face of the
+blank untouched, and free to develop the work of the engraver, which no
+other file does, or can effect, because any metal which is _ploughed_
+out from the face of a blank, leaves a hole which is not filled up in
+coining.”
+
+The opinions which I have here expressed have so far prevailed on two
+of the travellers to European Mints, as to induce them to glance,
+though rather shyly, at the necessity for reducing heavy blanks; but
+Mr. Napier writes a passage which I quote, as it demonstrates that
+he, who is admittedly one of the most successfully ingenious men of
+the age, has thought over and studied the words I wrote at page 60 of
+the last edition—he took that book in his hand to the Mint on the day
+after its publication—with that attention to which he thought they were
+entitled. I beg the reader to ponder over Mr. Napier’s words, they are
+most important; but I hope those who will be called upon to vote the
+necessary money will also read my remarks on this extract from Mr.
+Napier’s report on European Mints. He says at page 44:—
+
+    “_Treatment of Too-heavy Blanks._—Notwithstanding the
+    employment of the best mechanical appliances for rolling
+    the bars, adjusting the fillets to gauge, and cutting
+    out the blanks, and the most intelligent and painstaking
+    workmen to carry on the operations, still, owing to
+    unavoidable imperfections in the means, the blanks, when
+    cut from the fillets, will not be found equal in weight,
+    nor, indeed, so nearly equal that they can be recognised as
+    of equal value, and passed on to be manufactured into coins
+    destined to be put into circulation, and to represent one
+    value. The irregularities will necessarily be more or less,
+    according to the care and ability of the workmen, and the
+    condition of the machinery; but under the most favourable
+    circumstances only a certain proportion of the blanks
+    will be found to come within the limits which it has been
+    considered desirable to set down to restrict the quantity
+    of error.
+
+    “This being so, the following questions present themselves:
+    Are the too-heavy and too-light blanks to be returned to
+    the crucible and remelted, or to be passed on and detected
+    only in the finished coin, and then sent to the crucible?
+    Or are too-light blanks to be avoided altogether, and
+    all the blanks to be made either of sufficient weight or
+    too heavy? and in such case are the too-heavy blanks to
+    be submitted to some process for reducing their weight
+    to within the legal limit? Or is a more exact means to
+    be preferred, by which they will be equalised to that
+    perfection which cannot practically be questioned, and by
+    which they will become, for all purposes, one and the same
+    weight?
+
+    “The facts collected are, that at nearly all the European
+    Mints the reduction of too-heavy blanks, both of silver
+    and gold, is practised, to avoid the loss attendant upon
+    their return to the crucible, and that the endeavour is
+    to make all the blanks either standard weight or heavier,
+    so as to admit of reduction, to err, indeed, on the heavy
+    side, even to the extent of necessitating the reduction
+    of all the blanks. So great is the importance generally
+    attached to this department, that it is calculated that, in
+    some instances, nearly as many hands are employed in the
+    service of it, including the weighing, as in all the other
+    working departments combined. In Berlin, where particular
+    care is devoted to the weight of the coins, between 200 and
+    300 men are employed in times of pressure in the weighing
+    and equalising of the blanks, which operations are in this
+    instance performed by the workman with a hand shaving
+    apparatus, fixed to the table at which he sits, and a pair
+    of scales also placed near to him. The work done by one man
+    is revised by a second, and the file is used for giving the
+    finishing touch, so that the blanks are brought to great
+    perfection in weight. But although the extent of the means
+    shows the great importance attached to the results in the
+    establishments visited, and the large expenditure which, at
+    least in the opinion of the directors of these Mints, may
+    be permitted with profit in this department, the serious
+    consideration of the employment of so many hands would
+    militate against the carrying out of the system in the New
+    Mint. It may be satisfactory, therefore, to know that,
+    in case the desirability of an exact coinage should be
+    entertained, means for assuring it are at hand without the
+    employment of manual labour for the purpose. The subject
+    has, indeed, for many years occupied attention, and,
+    after much labour and expense, the difficulties have been
+    overcome, and a machine has been constructed to the order
+    of the Government of India which fulfils all the required
+    conditions for equalising the coinage to that perfection
+    that no appreciable difference need exist between the
+    standard weight and the coin blank which has passed through
+    the machine. This machine differs essentially from those
+    employed at the Mints visited, and which, it has been
+    explained, only take a fixed quantity off each blank
+    presented to the cutting tool, without reference to the
+    weight of the blank, the operation being repeated or not,
+    according to the result; or, in other words, no matter what
+    be the weight of the blank, whether nearly light enough, or
+    much too heavy, the cutting tool of the machine treats all
+    in the same manner.
+
+    “The equalising machine referred to, on the contrary, not
+    only takes from the too-heavy blanks, each in succession,
+    a quantity of their surplus weight, but it ascertains how
+    much it is necessary to take off each blank to reduce it
+    to the standard weight; and it deducts that amount only;
+    so, although the blanks which are supplied to the hopper,
+    or reservoir of the machine, enter the machine of unknown
+    weight, they are equalised by it in once passing through,
+    and are delivered into a receptacle for the finished work,
+    all of one weight, the standard, or so near to it that good
+    ordinary scales, such as are used for weighing blanks and
+    coins, will not detect a difference.
+
+    “Means can therefore be provided for the purpose, should it
+    be decided to reduce the blanks to equal weight, or only
+    to within the pale of accuracy instituted by Parliament,
+    the basis of which legislation must be taken to have been
+    the then practicable approach to perfection; for it is
+    to be presumed that, with a sufficient assurance that
+    accuracy akin to perfection was attainable ALONG WITH
+    ECONOMY, the wisdom of Parliament would have enacted
+    accordingly.
+
+    “The first outlay for self-acting coin blank equalising
+    machinery WOULD NECESSARILY BE LARGE, but it
+    is believed at the same time that the saving would be
+    considerable, especially upon gold.
+
+    “The question of the amount of economy would have to be
+    more fully gone into, and the expense of the machinery
+    accurately estimated. Extensive and continuous experiments
+    with the machine have also STILL TO BE MADE TO ACQUIRE
+    A KNOWLEDGE OF ITS USE, and to ascertain, after a
+    _lengthened_ probation, whether any modifications in
+    the details are advisable: the limited experiments already
+    made leave no doubt, however, of the successful result.
+
+    “The arguments in favour of an _exact coinage_ chiefly
+    rest upon an economical basis, and branch out beyond the
+    walls of the establishment into questions of currency,
+    wear, and recoinage, which it is not thought necessary to
+    treat of here; at the same time it may be stated that it
+    seems desirable that the coinage should be made as exact to
+    weight as possible CONSISTENT WITH ECONOMY, and
+    that an _exact coinage_ would be found more economical
+    as a circulating medium, would be more just, and a better
+    starting-point from which to legislate for the withdrawal
+    from circulation of worn coin than a coinage issued from
+    the Mint with acknowledged errors, or differences in weight
+    so substantial as to be represented in value, in the case
+    of gold coins, by some of the lesser denominations of the
+    coins of the realm.”
+
+The reasons which Mr. Napier gives are worthy of grave
+consideration—they are mine wholly—except so far as regards those to
+which I have drawn attention by printing them in small capital letters,
+and which show that even with his vast experience he dare not answer
+for the success of his machine, while the suggestion of the necessity
+“to acquire a knowledge of its use” should make a desire to recur to a
+successful machine paramount. If, indeed, I rested on my own opinion,
+I should be content to see Mr. Napier’s machine tried, although I
+think its failure would be established; but it so happens that I can
+quote the opinion of the late Master of the Mint on the machine under
+consideration, expressed at a period when the efficiently economical
+conduct of the Royal Mint had received his utmost consideration. In his
+letter to the Treasury, dated 7th June, 1860, he says:—
+
+    “I may be allowed to call to your recollection that a
+    Parliamentary grant of £1,100 was obtained by the Mint in
+    1856 for the purchase of two automaton filing and adjusting
+    machines, which it was proposed to have constructed by
+    Messrs. R. Napier and Sons, the eminent engineers. No part
+    of this grant has been appropriated. The rapid amendment in
+    the blanks which took place immediately afterwards led me
+    to suspend the order for these machines, and ultimately to
+    abandon the idea of any great expenditure for the object
+    contemplated. In the meantime also, a machine of a much
+    more simple character was contrived by Mr. R. Pilcher, of
+    the weighing room, and was constructed in the Mint, with no
+    assistance from without. Pilcher’s adjusting machine has
+    proved sufficiently effective, costs nothing for labour,
+    and has now been in constant operation for two years. The
+    cost of making a pair of machines such as we now possess
+    is estimated at £60, a sum which was saved to the public
+    by the mode in which the work was executed. Trusting that
+    the Lords Commissioners of her Majesty’s Treasury will be
+    disposed to consider favourably the merit and practical
+    value of such an invention, I venture to solicit their
+    Lordship’s sanction to the application of £60, the sum
+    just stated, to the benefit of the inventor, jointly with
+    an ingenious mechanic on the establishment, who gave
+    material assistance in the construction of the machine. I
+    would propose the following awards, if agreeable to their
+    Lordships:—To Mr. R. Pilcher, £40; to Meredith Jones, £20.”
+
+It was upon advice tendered by myself that Mr. Graham thus excluded
+the machine now recommended by Mr. Napier. I maintain that a simple
+machine should be preferred before a complicated one, and the Mint
+authorities should give Mr. Pilcher’s £60 machines—admittedly perfect
+in operation—a fair trial against Mr. Napier’s £1,100 machines, and see
+if they prove _equally effective_. If, on the other hand, Mr. Napier’s
+fails, then it is but fair to the public that that machine which is
+undoubtedly a success, and for which the inventor has been _publicly
+rewarded, although in a most inadequate manner_, should be used.
+
+The machine thus spoken of was used with the utmost advantage until
+1866, when its use was abolished by the advice of Mr. John Graham, who
+subsequently, in 1868, broke it to pieces that _his improvements_ might
+be rendered permanent, thus causing an expense of 50 per cent. on the
+total cost of manufacture for _rejected coins_,[27] because the use
+of the file having been abolished, the coined money alone was weighed,
+thus rendering it impossible to reduce the heavy pieces.
+
+[Footnote 27: That is, coins which, although otherwise perfect in
+manufacture, are not within the limited variations of weight permitted
+by the Mint regulations.]
+
+[Illustration: Fig. 14.—Pilcher’s Filing Machine.]
+
+Although the use of this file has thus been stopped, it is greatly to
+be hoped that it will again be employed, and thus enable the Government
+to produce coined money at the cheapest possible[28] rate, because it
+enables the Mint authorities to obtain the largest per-centage from the
+bars. Feeling that this much-desired re-introduction will take place,
+it is thought wise to give the following description of Pilcher’s file,
+which, if not desired for the benefit of our own Mint, will be adopted
+by other coining countries:—Fig. 14 is a representation of this compact
+machine. The blanks A are placed in rouleaux in a tube B, which is open
+at top and at bottom; through the opening at the bottom the blanks rest
+their EDGES on the file C, which, as it revolves about 1,000 times per
+minute, files off metal from the edge of the blank. Each machine has
+two tubes, and when both have been filled the rod D, which carries a
+triangular knife-edge, is released by the lever E, and the knife-edge
+resting upon the upper edge of the blanks A,—with the intention of
+offering resistance to their rotary motion,—enables the operator to
+remove MUCH OR LITTLE metal from their edges at pleasure by increasing
+the resistance which D offers by adding a weight G on to the gallery F.
+H is a glass dish into which the dust, as it is removed from the edges
+of the blanks, falls, thus insuring a perfect _separation of the dust_
+from the blanks. The blanks in B are kept in their position by small
+blocks of ebony, which are secured by the thumb-screws I. Motion is
+given by the wheel J, which communicates with the pulley K by a cord or
+catgut. The whole machine stands on a block of mahogany L, secured to a
+table of oak. M is a screw which is used to tighten the cords between J
+and K. Between C and H is a hopper of brass to catch flying particles
+of the precious metals. Each file reduces 250 sovereign blanks per
+minute.
+
+[Footnote 28: See pages 108, 109.]
+
+The objections which were raised to the introduction and use of this
+machine were curious, and amongst others it was firmly maintained that
+it caused the coining press to make brockages, because the blanks which
+had been filed were smaller than those which had not been thus treated.
+The amusing part of this objection was that _all_ the blanks were
+afterwards reduced to a uniform diameter by the edges being compressed
+_before_ being coined.
+
+The medium blanks—now unfortunately the coined moneys—are rung by boys
+to detect any which may be dumb or cracked, and which are rejected for
+melting. Dumb or cracked pieces arise when bubbles of air are enclosed
+in the bars at the time of pouring the fluid metal into the moulds in
+the melting-house.
+
+Besides this source of dumb work may be mentioned another of large
+occurrence in silver, and occasionally met with in gold, which results
+from an imperfect mixture of the alloy at the time of melting, and
+developes itself at the draw-bench, where whole fillets, of six feet
+long, may be seen to separate into two complete layers of metal, the
+inner surfaces being coated with a thin film of copper, frequently
+quite pure, but sometimes in the form of suboxide. It would thus appear
+that a globule of copper becomes enveloped in a volume of fluid gold
+or silver, and, in the act of pouring, this globule is drawn out into
+a kind of wire, perhaps extending some inches in length, enclosed in
+precious metal. When this is rolled it is all flattened together, but
+there is no adhesion between the surfaces, so that when the fillet
+passes through the draw-bench the lateral motion given to the atoms
+of the metal causes the slip which finally separates the two surfaces
+of metal, and the eye at once detects the existence of the fault. In
+the coinage of 1857, no less than 141·38 ounces of gold fillets thus
+imperfect were returned to the melter in one day, and on the whole of
+that coinage these fillets averaged nearly 0·50 per cent. (see page
+92). In the case of silver this defect is of less consequence, but
+of greater occurrence. It is the duty of the melter to see that such
+bars are neither produced nor forwarded, and there can be but little
+doubt that in a properly conducted Mint the melter would be directed to
+re-melt such fillets without payment to the men.
+
+[Illustration: Fig. 15.—Jones’s Edge-Compressor.]
+
+The medium blanks which would now be fit for coining should be weighed
+up in bags of about 500 ounces, instead of 180 ounces, as is the
+custom, and sent forward to the room in which is placed a machine which
+has to diminish the diameter of each blank by compressing its edges.
+This is called a _marking machine_, but such a name being obviously
+improper, it is preferred to call it the EDGE-COMPRESSOR. Up to 1861
+the best machine for this purpose was that invented and patented by
+Messrs. R. Heaton and Sons, of the Mint, Birmingham; but in the early
+part of 1858 the subject of the varying diameter of blanks came under
+consideration as effecting the production of brockage. Mr. Pilcher was
+consulted by me, and proposed a machine, of which he gave the outline,
+which I submitted to the Master of the Mint on the 31st of March, 1858.
+This machine was to be fed from the top, but was abandoned because
+it did not meet the desired minimum of 1,000 pieces per minute. Mr.
+Pilcher therefore proposed to erect on the same spindle five revolving
+discs, and to face these five discs with as many cheeks. At a given
+time it was determined to manufacture a marking machine, and one of
+five which Mr. Pilcher proposed was to be made. It was preferred to ask
+Mr. Meredith Jones to assist in its manufacture. Mr. Jones had also
+a design for a machine for this purpose, and it was arranged that as
+Mr. Jones made Mr. Pilcher’s file he should make his own machine. Mr.
+Jones proposed, and Mr. Pilcher accepted, the following proposition.
+Mr. Pilcher was to retire from the machine, and in consideration of
+his so retiring, and allowing the machine to be called Jones’s marking
+machine, Mr. Jones was to give Mr. Pilcher one-half of whatever
+sum might be paid by the Mint for the use of the machine. Fig. 15
+represents Mr. Jones’s machine. The blanks are placed in the hopper
+A, and fall by an incline into a tube B until they rest at C, on a
+notched wheel D. As D revolves each of its notches carries away the
+bottom blank of the pile from the tube B, and leaves it to slide down
+the tube E till it reaches the block F. The block F is cut with a
+narrow groove, which exactly corresponds with the groove Gᵃ on the
+plate or disc G. The disc G revolves, and as the blank slides down and
+comes with some little impetus against the groove in the block F, the
+groove Gᵃ catches it, and causes it to take two revolutions between
+the disc G and the block F, finally permitting its escape at H, when
+it falls into I, being now reduced in diameter and thicker on the
+edge, but its centre remaining as it was before. The machine is driven
+by J, the shaft of which carries a reduced rigger for the driving of
+K. The hopper is supported by the rod L. The distance between F and
+G represents the diameter of the blank after its edge is compressed,
+this distance being determined by the screws seen at M. Blanks of all
+diameters may be compressed at this machine if the block F and the
+plate or disc G be removed and replaced by others, neither operation
+taking many minutes. The edges of the blanks are compressed at the rate
+of 700 per minute. A boy of fourteen could work this perfectly well,
+and with more convenience now that the hopper is replaced by such a one
+as is used to supply Mr. Cotton’s weighing machine. The edge of the
+blank is compressed with a view to prepare it for the _crenating_ to be
+given by the collar in the after process of conversion into a coin.
+
+The blanks are conveyed from the edge-compressor to the annealing room,
+where they are placed in rouleaux in iron boxes, the tops of which are
+luted on with clay, the boxes are then placed on iron carriages, and
+run into reverberatory furnaces, heated by Juckse’s smoke-consuming
+apparatus, where they remain for an indefinite period. The furnaces are
+like that represented in the rolling room for annealing the fillets in
+copper tubes. To anneal the blanks, the temperature should be raised
+rapidly until the boxes attain a full red heat; and the time allowed
+for the operation should be from twenty to twenty-five minutes at the
+utmost. After the heating, the boxes are withdrawn from the furnace
+and placed on the floor of the room, till the blanks are assumed to
+have become of a low red or black heat, the point below that at which
+copper combines rapidly with oxygen; they are then opened. If the boxes
+be opened while the blanks are still of a full red heat, there is what
+is called too much loss by annealing, or, in other words, too much
+of the copper has become oxidised, and thus rendered soluble in the
+dilute sulphuric acid into which they are presently removed. The box
+having been opened, the blanks are turned out into a copper tray, and
+on this carried to a cistern of cold water, in which a colander stands;
+they are thrown through the water into this colander, and thus cooled
+rapidly. When cool, they are taken in the colander to a leaden cistern
+of nearly boiling dilute sulphuric acid, into which they are placed,
+and allowed to remain for about three or four minutes. By means of this
+bath of sulphuric acid a thin skin of oxide of copper is removed; the
+gold on the surface from which the copper has been washed out is of
+a sponge-like form, and gives a beautiful bloom to the new coin when
+it is struck. This process is called _blanching_, and is of great
+interest to the coiner, as it is here that his loss by coining takes
+place. The bars of gold sent to the coiner are found to be standard
+within certain limits,[29] therefore the blanks produced from those
+bars must be of the same fineness; but by this process of blanching,
+copper is removed; hence the standard, or the amount of pure gold
+contained in the blanks, is proportionably raised, and this tells on
+the million to an amazing extent. When the annealing is conducted for
+too long a period, the copper becomes oxidised to too great an extent
+during the time of annealing, for there is no atmosphere more capable
+of oxidising than is that of one of these furnaces; it is for this
+reason that the heat should be gained rapidly, before that oxidising
+atmosphere shall have time to permeate the luting and attack the copper
+of the standard gold. At the trial of the pyx in 1861 the gold coined
+by Mr. Thomas Graham, the late Master, was found to be “4 grains on
+the pound too fine;” that is to say, containing in 5,760 grains 5,284
+grains of pure gold in the place of 5,280 grains, which it should have
+contained. This is well for the people, but it is bad for the Master of
+the Mint, because he has lost 4 grains of pure gold on each pound that
+he has coined, which amounts to no less than £757·65870 in value upon
+every million of sovereigns. This loss may well be avoided, either by
+adding extra alloy to allow for this removal of copper, or, as would be
+far wiser, by abolishing the process of annealing the blanks, as was
+done in 1859, when more than a quarter of a million of sovereigns were
+coined from unannealed blanks obtained from brittle gold which was much
+harder than any ordinary gold to be met with. It must be remembered
+that the saving of bullion would leave a large margin for the increased
+destruction of dies, and in addition the coin would wear longer in
+circulation.
+
+[Footnote 29: See page 53.]
+
+By his elaborate experiments Mr. Charles Hatchett proved not only
+that the British standard gold was the best alloy for coins, but that
+this alloy should be so manipulated as to avoid either the extreme of
+ductility or of hardness, and when this medium was attained the coins
+produced wore longer and better than any others.
+
+It will be of importance in this place to consider the question of
+annealing the blanks previously to coining them, and experience teaches
+that this process should be omitted. The gold alluded to as coined in
+1859 from unannealed blanks was the same gold that was spoken of as
+being so toughened in the form of bars when the fluid metal had been
+poured through a stream of coal gas.[30] The gold contained antimony,
+arsenic, and lead, so was predisposed to become brittle; but by pouring
+through the air it absorbed oxygen, and became certainly the most
+brittle gold that has passed through my hands. It was toughened by
+reducing the oxide of copper, and worked remarkably well, producing
+the most workable fillets, regular and uniform blanks, which yielded
+an average of 5·67 per cent. rejected. The blanks were tough, soft,
+and very malleable, capable of being cut with a chisel without
+fracture, and ringing musically on an iron block, thus satisfying
+all the requirements of good coining gold; but directly these blanks
+were annealed they showed 30 per cent. of pieces so brittle that they
+could be broken by a moderate pressure of the finger and thumb. After
+coining, the whole mass became so brittle that less than 2 per cent.
+remained sound after twice ringing on an iron block, as is the usual
+practice. These brittle coins, when again annealed, and suddenly cooled
+by plunging into cold water, became tolerably tough, and withstood
+ringing to 8 times, when they again became brittle. It now became
+evident that none of this gold should be issued to the public,—indeed,
+I may state that this same gold had been rejected by all the coining
+countries as unfit for coin. It was therefore ordered to be melted
+and returned to the Bank as unfit for coin, its value being £167,539.
+After every possible obstacle had been placed in the way, I overcame
+the aversion to change, obtained permission to try some experiments
+on this gold, rewrought it, and coined it all without annealing. The
+coin thus produced was so tough that an ordinary man could not break
+a sovereign even by the aid of a pair of pliers.[31] Yet when these
+toughened coins were annealed, they became so brittle that a child
+could break them readily. In the Royal Mint some of these coins in each
+state are preserved. Mr. Graham, then ever anxious to secure to the
+Mint any advantage, was pleased to address to the Treasury a letter on
+the subject of this gold, in which he said, “A correspondence between
+the Governor of the Bank and myself on the brittle property of the gold
+occasionally imported into the Mint to be coined was formerly brought
+under your notice in my letter of the 21st March, 1857. The evidence
+of the evil in question was not confined to the Royal Mint, but has,
+I believe, been felt at all other mints, and also by goldsmiths
+generally, since the recent gold discoveries. It was traced to the
+presence in the gold of a minute portion of antimony or arsenic (often
+not greater in quantity than one-tenth of a per cent.), which escapes
+the observation of the assayers. But no remedy in dealing with such
+gold then presented itself, except the expensive one of having the
+brittle gold refined.
+
+[Footnote 30: See page 6.]
+
+[Footnote 31: These coins, struck between marked dies, may be
+recognised by a small line which I placed in the centre of the ribbon
+at the back of the head representing her Majesty on the obverse.]
+
+“An unusually large proportion of the gold received for coining
+last year was of this defective character, but the whole of it was
+successfully coined notwithstanding, and no part returned to the Bank
+to be refined, as on former occasions.
+
+“This improvement in the practice of the coining department is the
+result of a laborious investigation made in the coining department, of
+which I am happy to assign the chief merit to Mr. Ansell.
+
+“It now appears that the antimony or arsenic acts injuriously when
+the gold blanks are allowed to cool gradually, but not when cooled
+suddenly, after annealing, the gold appearing to have time to
+crystallise and become granular under the influence of the antimony
+particles in the one case, but not in the other. The improvement may be
+justly represented as one of considerable value. It saves entirely much
+extra labour hitherto applied to brittle gold without any beneficial
+result. It will also lead to the diminution of waste, of which brittle
+gold was always a fruitful source.”[32]
+
+[Footnote 32: Besides many verbal congratulations, the Master wrote me
+the following letter:—
+
+    Registered No. 3026, 1860.
+    Royal Mint, 20th October, 1860.
+
+    DEAR SIR,
+
+    Your success in obviating the difficulty of coining gold containing
+    a minute portion of antimony or arsenic is a benefit to this
+    department, which calls for my most grateful thanks. In recognition
+    of your services I have the pleasure, with the approbation of the
+    Lords Commissioners of Her Majesty’s Treasury, to present to you the
+    sum of one hundred pounds, for which cheque is enclosed.
+
+                   I have the honour to be,
+                                    Dear Sir,
+                                          Most faithfully yours,
+                                                  THO. GRAHAM.
+    George F. Ansell, Esq.
+
+]
+
+I do not accept the conclusion arrived at by Mr. Graham, for my
+experiments showed clearly that this peculiar gold could not be heated
+even to a black heat after coining without becoming absolutely brittle
+under all circumstances. Notwithstanding the experience gained by
+the coining of this brittle gold, the annealing of coined money was
+effected by the present authorities at the Royal Mint in 1868, when
+a vast amount of brittle gold was coined, of which considerably more
+than half a million sterling in coined pieces were annealed and plunged
+into cold water, just as was done in 1859, and with precisely similar
+effects; that is, the production of brittle pieces, as soft as lead
+and perfectly rotten. These pieces were sent to the Bank of England,
+where they have given great dissatisfaction. They should have been
+melted, as were those of 1859. I, being an officer of the Mint at the
+time, offered to coin this gold as I had coined that in 1859; my offer
+was declined, and a vast mass of very brittle coin was, in addition
+to that of which I have spoken as having been annealed after coining,
+issued to the public, besides many thousands of ounces uncoined having
+been returned to the Bank of England by the Mint authorities, who found
+themselves unable to coin it; these facts being, as I think, little to
+the credit of the official ability.
+
+The Right Honourable Lord Kinnaird, with a view to relieve the Mint
+authorities, suggested, on the 22nd of March last, from his place in
+the House of Lords, a proviso “that such gold”—specified in clause 8
+of the Coinage Bill then under discussion—“should be free from lead,
+antimony, and other substances, so as to admit of its being coined
+without previous refining.” The Government promised to consider this
+suggestion, and, after consideration, rejected it, although the right
+thus proposed to be established has always been claimed by the Mint but
+disputed by the Bank of England. His lordship then drew the attention
+of the House of Lords to the issue of the brittle sovereigns, to which
+I have alluded, as having given so much dissatisfaction at the Bank,
+and on the 25th of March, the following letter appeared in the _Times_:—
+
+                    “THE COINAGE BILL DEBATE.
+                “_To the Editor of the Times._
+
+    “SIR,—In your full and very correct report of what I
+    stated in the House last night on the Coinage Bill, there is an
+    error which I think must have occurred in the printing—‘sweat’
+    should be ‘sweep.’ I think what I said in regard to the £640,000
+    sent by the Mint to the Bank would have been clearer if I had
+    added—‘Its brittleness was increased by being annealed after
+    coining.’
+
+                               “Your obedient servant,
+                                                   “KINNAIRD.
+    “50, Avenue Road, Regent’s Park,
+         “March 23rd.”
+
+Attention being thus forcibly drawn to a great evil, the Marquess of
+Lansdowne, in reply to Lord Kinnaird’s remarks on the appointment of
+Mr. Roberts, stated that “Mr. Roberts was a very eminent chemist, who
+had proved his capabilities by devising a system for depriving gold of
+the obnoxious properties on which the noble lord recently commented.”
+Lord Kinnaird has already pointed out that this process, which the
+eminent Mr. Roberts has “devised,” was discovered by Dr. Percy, and
+that the process was published by that gentleman so long since as 1848.
+Dr. Percy conceived the elegant idea that if a stream of chlorine gas
+were passed over an ore containing gold, the chlorine would combine
+with the gold and dissolve it out from its matrix, as water would do
+sugar. This it does with complete success, forming a chloride of gold
+which is readily soluble in water, and from which it can be obtained
+with the utmost ease.
+
+With regard to the invention of the process for which Lord Lansdowne
+gave Mr. Roberts credit, the facts of the case stand as follows. Dr.
+Percy discovered that by means of chlorine gas he could separate gold
+from its ores. He described his invention in the Transactions of the
+British Association in 1848, and in the Philosophical Transactions
+in 1850. Plattner carried it out practically about 1852 in Silesia,
+and I, in January, 1856, conducted a long series of experiments upon
+it for the Chancellorsville Gold Mining Company. The exact process
+now proposed or “devised” by Mr. Roberts was patented by Mr. Miller,
+the present assayer to the Sydney Mint, in 1867—No. 1767. When Lord
+Lansdowne finds himself thus deceived, he will probably in future think
+it necessary to examine statements suggested to him before making them
+from his place in the House of Lords.
+
+This _new_ process consists in forcing chlorine gas through melted
+gold, and it is assumed that the chlorine will carry off the silver,
+lead, antimony, tin, and arsenic, which render the gold brittle. On the
+face of the proposition, there are very grave reasons for believing
+that it will fail if tried. This also is the deliberate opinion of the
+most eminent metallurgical chemist of this or any other time; indeed,
+it has been tried and found a failure. It has failed of its object, and
+instead, attacks the gold, which, with the chlorine, will leave the
+melting-pot and pass into the chimney, creating a use for the proposed
+chimney chambers of Mr. Roberts.
+
+Experience at the Mint is to the effect that the run of gold ingots
+produced by the melting of worn and light coins culled from those in
+circulation is found to be worse than standard by 1-500th, or two in
+each thousand parts. There can be no doubt but that this is mainly
+due to the fact of the loss of copper by the processes of annealing
+and blanching. In actual practice extending over many millions, it is
+found that 1,000,000 sovereign blanks lose 5,708 grains of copper:
+now, since this copper is removed from the surface, it leaves a
+sponge of pure gold coating that surface. Pure gold is very soft, and
+rapidly wears away, so that when the coins from which 5,708 grains of
+copper have been taken go into circulation, this film of gold, which
+amounts to £555·62 on each million pieces, is removed by friction.
+It will probably be argued that the copper being taken first and the
+gold afterwards, leaves the coin of the same standard as the original
+bars;[33] if, however, this proposition be examined, it will be seen
+that the bars are assayed and found to be below standard 0·55562 on the
+thousand coins; but the blanks obtained from the bars are, by annealing
+and blanching,[34] brought to standard before they are coined, and
+those coins assayed WHILE NEW are found to be standard by the jury
+of goldsmiths at the trial of the pyx, because they retain this film
+of gold; let them, however, go into circulation and lose their film
+of gold, and they will be reduced to the original composition of the
+bar; that is, worse than standard 0·55562 in the 1,000. The trial of
+the pyx[35] is supposed to be a great protection to the people against
+deterioration of the coinage. This opinion is not entertained by those
+who have witnessed the whole operation, for then it is manifest that
+the copper is sufficiently oxidised while melting to insure the alloy
+containing enough gold to enable the jury to find it “Fine, 4 grains
+on the pound,” or any other degree of fineness. There can be no doubt
+that the jury should be composed of men knowing something practically
+of assaying, and who would not hesitate to publish every detail of the
+process adopted, stating specifically the amount of loss incurred by
+melting the ingot produced from the selected coins. That the jury is
+composed of honourable men—goldsmiths—is beyond doubt; but that these
+goldsmiths should know how to assay is also an important matter, and
+should be a _sine quâ non_. It would be well if some independent
+member would move the House for a return of the assays by the Mint of
+ingots produced from worn and light coin received from the Bank of
+England.
+
+[Footnote 33: See pages 48, 49.]
+
+[Footnote 34: See pages 48, 49.]
+
+[Footnote 35: See pages 166, 167.]
+
+Having thus specifically stated in my previous editions the facts as
+they exist of our coinage, I waited a refutation of my statement.
+I was informed that the Bank of England had made careful assays,
+and proved that the worn gold coin was not below the standard of
+fineness. I was also informed that bullion merchants in London had
+obtained newly-coined sovereigns, and by means of a scratch-brush had
+removed the film of pure gold of which I spoke, and upon a re-assay no
+difference had been detected. My reply was, and continues to be, the
+assays were either made by bunglers or were carelessly made, while with
+regard to the statement related _for_ the Bank of England, I simply
+refused credence because in my own knowledge that Institution has been
+greatly puzzled for years as to the reason of the lower assay, and it
+was myself who pointed out the cause to Mr. Thomas Graham on the 4th
+January, 1860. That gentleman mentioned my suggestion to the then chief
+cashier, who preferred to think “it was due to the base coins which
+found their way into the Bank.” I said then as I think now—“I believe
+the officers of the Bank of England are far too sharp to take one base
+coin in five hundred.” This reply settled the discussion.
+
+That the light and worn coin is habitually below the standard is
+conclusively proved by the fact that if any man should take, as the
+great Duke of Wellington did, a thousand sovereigns to a jeweller’s to
+be made into plate—and his Grace took coined money that he might be
+sure to have plate of the fineness of 22 carats, or standard gold—he
+would find, as the duke found to his cost, the plate “cut” at the
+Goldsmiths’ Hall as being below standard. That the case still exists is
+so well acknowledged by jewellers that they invariably add “fine gold”
+when they melt coin for plate which is to be stamped with the Hall mark.
+
+“Monetarius,” who wrote to the _Times_ from Malvern—where, singularly,
+Mr. Thomas Graham was then residing—and Sir John Herschel, quoted in
+their letters to the _Times_ the report of a Belgian chemist to prove
+that our coinage is invariably standard. Such authorities seemed to
+quiet public opinion; but Lord Kinnaird moved on two occasions in
+the House of Lords for the “Returns of assays by the Mint of ingots
+produced from worn and light coin received at the Mint from the Bank of
+England.” The Government firmly refused these returns on the alleged
+ground that they were “too bulky;” Lord Kinnaird, however, explained
+the true cause of the refusal when he said that these returns would
+conclusively prove that the gold coinage, when worn, is habitually
+below the standard, as is also shown by Mr. Ernest Seyd in his letter
+of the 20th, inserted in the _Times_ of the 21st August, 1869:—
+
+    “... The British public are under the impression that
+    English sovereigns stand highest as far as correctness in
+    quality is concerned. In reality, the British gold coin
+    falls much more below its standard fineness than French,
+    American, and Russian coin.... But the best proof of the
+    greater inferiority of the British gold coin is given by
+    the action of the Bank of England. The Bank of England
+    cuts light gold coin, and so renders it unfit for further
+    circulation. The holder of such coin thus loses, in the
+    first place, the value of the gold worn away by abrasion,
+    and the cut sovereigns are handed back to him as being now
+    only bullion (the loss so far amounts to from 1_d._
+    to 4_d._ per sovereign); the bullion now remaining is
+    the metal of which the coin had been made, presumably at
+    the rate of 77_s._ 10½_d._ per ounce, and worth
+    that much, or, at the Bank rate for buying gold, at least
+    77_s._ 9_d._ per ounce. Yet the Bank of England
+    will not give more than 77_s._ 6½_d._ for it.
+    Worth at Mint price, 934½_d._, the Bank pays but
+    930½_d._ per ounce—a deduction of 0·43 per cent.”
+
+_I_ need not express an opinion upon such a case so stated; but I can
+quote one of far higher value, for Mr. J. G. Hubbard, who is a profound
+authority, says, in his letter in the _Times_ of September 4th, 1869:—
+
+    “This inaccuracy of our Mint assays was pointed out by Mr.
+    Seyd in his intelligent and well-informed letter of the
+    20th ult., and I can corroborate his observations by my own
+    experience of sovereigns sent to Russia, where the Mint,
+    more exact than our own, ranked sovereigns at fully ⅛ carat
+    grain worse than standard.”
+
+Let us now see what steps are taken by the authorities, and then judge
+of their motive for introducing a reform so greatly needed, and which
+would never have been attacked had not I unceasingly urged it since
+1860. In his Report on European Mints, Mr. C. W. Fremantle says:—
+
+    “I have therefore received with much satisfaction the
+    expression of Mr. Roberts’s opinion that the process
+    of blanching may, as far as gold coin is concerned,
+    be discontinued without detriment to the appearance
+    of the coin. _It is this process which leads to the
+    deterioration of standard found to exist in gold which has
+    been for some length of time in circulation_, and _in
+    consequence_ of their Lordships’ decision that light
+    gold coin shall FOR THE FUTURE BE RECEIVED BACK BY
+    THE MINT FOR RECOINAGE, the question becomes at this
+    moment one of PECULIAR IMPORTANCE.”
+
+I have emphasized some of the passages as showing that this decision
+is very like that of the unjust judge—not so much from conviction of
+right as from the necessity of the case. I do not charge the Mint with
+yielding to importunity; but being made to bear the loss, they are
+willing to amend that which they _now_ openly admit to have been a
+wrong. Why is the opinion of Mr. Roberts quoted? why not some of the
+great officials at the Mint? Silence on this head is significant. Mr.
+Roberts will hardly desire to claim a discovery which he found in my
+last book, for he, too, bought one of the first copies which were sold.
+That I may not appear to be claiming that which is not my own, I quote
+the words from Mr. Roberts’s report:—
+
+    “It is evident that bars slightly below standard may be
+    allowed to pass to the subsequent operations of coining,
+    on the assumption, justified by calculation, that the
+    blanching would be attended with a sufficient elevation of
+    standard to bring the coins within the limits of fineness
+    prescribed by law. The _film of soft pure metal_,
+    however, _is removed by wear_; and the coins, _when
+    remelted, will consequently be found to be below standard
+    fineness_.
+
+    “This is a question of some importance NOW that
+    the Mint has undertaken the operation of re-coining light
+    pieces, and I would recommend, therefore, that the process
+    of blanching gold coin should be altogether abolished.”
+
+The italics are my own, and if the words so pointed out be read with
+reference to those I have persistently used, there can be but one
+conclusion, Mr. Roberts having had but a few months’ experience in the
+Mint, notwithstanding Mr. Fremantle’s reliance on his judgment.
+
+As regards the trial of the pyx, useless and mischievously deceptive as
+it is shown to be, the Act of Parliament, 33 Victoria, cap. 10, makes
+it imperative to give this excuse for a dinner at the Goldsmiths’ Hall
+at least once a year. Had the Government assented to the proposition of
+Lord Kinnaird, and nominated the Professor of Metallurgy for the time
+being in the Royal School of Mines, one of their own officers, and who
+at present is the most distinguished of metallurgists, foreman of the
+jury, the country could have relied upon the verdict now given honestly
+enough; but upon inadequate knowledge, indeed, if the reader will refer
+to pages 10-12, it will become clear that so delicate a process as
+assaying should be watched by those who can appreciate its refinements,
+or its results can possess no judicial value.
+
+I attended the trial of the pyx, which was held on the 17th July,
+1860, with an especial view to, and an avowed intention of, publishing
+details of the operation. With a desire to further this object Mr. W.
+H. Barton, the then Deputy-Master, gave me the following particulars,
+and I, for myself, observed that the coin when melted was placed in an
+open crucible, without flux, and for part of the time without a cover:
+the ingot produced was of a GOOD BLACK colour from the oxidation of the
+copper. The objections to such a melting can hardly be exaggerated, and
+I am of opinion that however fairly selected—and they were honestly
+taken—1·310 ounces is not a sufficient bulk on which to form an opinion
+as to the purity of £24,654,849 of gold coin.
+
+     +------+---------------+--------------------+--------------+
+     |      |               |                    | Weight of    |
+     |      |               |    Value of the    | Pieces taken |
+     |Coined| Name of Master|    Coined Money    | from the     |
+     |Money.|  when Coin    |       Pyxed.       | Coined Money |
+     |      |   was Pyxed.  |                    | for the Pyx. |
+     |      |               |                    |              |
+     +------+---------------+--------------------+--------------+
+     |      |               |     £      _s. d._ |   Ounces.    |
+     |      |SIR J. F. W.   |                    |              |
+     |      |HERSCHEL, BART.| 2,977,190  12   2  |   1052·200   |
+     |Gold  |               |                    |              |
+     |      |THOMAS GRAHAM, |                    |              |
+     |      |ESQ.           |24,654,849   0   9¼ |   8300·087   |
+     +------+---------------+--------------------+--------------+
+     |      |SIR J. F. W.   |                    |              |
+     |      |HERSCHEL, BART.|   100,450   7   0  |    121·899   |
+     |Silver|               |                    |              |
+     |      |THOMAS GRAHAM, |                    |              |
+     |      |ESQ.           | 2,331,666  19   6  |   2811·543   |
+     +------+---------------+--------------------+--------------+
+
+
+    +------+---------------+--------------+-------------+---------------+
+    |      |               | Weight of    |             | Weight of     |
+    |      |               | Coins taken  | Loss by     | Bullion       |
+    |Coined| Name of Master| to melt into | Melting to  | actually      |
+    |Money.|  when Coin    | an Ingot for | obtain the  | taken from    |
+    |      |   was Pyxed.  | the Assay.   | Ingot.      | the Ingot for |
+    |      |               |              |             | the Assay.    |
+    +------+---------------+--------------+-------------+---------------+
+    |      |               |    Ounces.   |   Ounces.   |    Ounces.    |
+    |      |SIR J. F. W.   |              |             |               |
+    |      |HERSCHEL, BART.|     9·116    |    0·020    |     0·766     |
+    |Gold  |               |              |             |               |
+    |      |THOMAS GRAHAM, |              |             |               |
+    |      |ESQ.           |    51·500    |    0·077    |     1·310     |
+    +------+---------------+--------------+-------------+---------------+
+    |      |SIR J. F. W.   |              |             |               |
+    |      |HERSCHEL, BART.|     3·137    |    0·046    |     1·287     |
+    |Silver|               |              |             |               |
+    |      |THOMAS GRAHAM, |              |             |               |
+    |      |ESQ.           |    67·881    |    0·652    |     1·781     |
+    +------+---------------+--------------+-------------+---------------+
+
+The authorities of the Mint, having assented to part of my proposition,
+have yet stopped half way, and blindly considering that the blanching
+_alone_ was the cause of loss to and fictitious value of the coinage,
+they will find that their loss is greater now than it was when they
+unwisely permitted blanching. I do not point out to them the reason
+why—that is now their business; but I confess that I am a little
+amazed at Mr. Roberts’s recommendation—one that was given up by the
+moneyers before he was born, yet now gravely made by that gentleman in
+these words, “I should prefer that in order to prevent needless wear
+to the dies, the blanks should be annealed, after every trace of oil
+has been removed by washing with the aid of alkali, the utmost care
+being taken to avoid oxidation by exposure to air.” One seems to see
+Mr. Roberts in the presence of men who would dwell on his instructions
+as would a soldier on those of his general, directing the filling of a
+copper tube with gold blanks, previously divested of “oil by alkali,”
+so as to leave a film of lime soap neatly protecting their surface, and
+covering them with powdered charcoal. The tube so filled will be duly
+placed in the furnace, duly heated, and duly plunged into the cistern
+of cold water by the foreman, who, having taken an insurance ticket
+from the Accidental Death Company, feels quite safe, when, suddenly,
+a mass of copper and some pounds weight of gold blanks occupy the
+space from which it is hoped his head may have retired in time. Quite
+seriously, I have seen the cap of a tube blown suddenly off, and the
+blanks projected from the tube so plunged into water—from the same
+cause that bursts a kitchen boiler when cold water is admitted to one
+already red hot—with such violence as would certainly kill a man if he
+chanced to be in the line of fire. Do they not at the Mint understand
+the true cause of loss? An officer who tells his men to “go and do,”
+is not so likely to effect his object as if he were to show them “how
+to do” the work required of them; neither “bullying” nor making the
+men pay for losses will stop those losses of bullion. Knowledge alone
+is power. Knowledge alone can direct. Knowledge alone is required in
+the Royal Mint. There are plenty of men there who are most desirous to
+carry out any instructions; but, if the bugle give an uncertain sound,
+who can obey?
+
+The effect of the annealing having been thus dwelt upon and explained,
+I will continue the description of the subsequent operations, stating
+what was formerly done and what had better be recurred to till
+experience is gained by those who are entrusted with the management of
+the Mint. After about three minutes’ boiling in dilute sulphuric acid,
+the blanks in their colander were washed under a stream of cold water,
+to remove the sulphate of copper and the sulphuric acid from their
+surfaces, otherwise these substances would deface the dies used for
+coining, as well as give the coin a dirty appearance. From the washing
+they were taken to a sieve of sawdust, A, Fig. 16, into which they
+were thrown to be dried by friction with the hand. A revolving drum
+of brass lined with wood has lately been introduced for this purpose.
+The objections to this form of apparatus appear to be that the blanks
+get hardened by blows, through falling against each other, lose more
+in weight, and become indented on the surface, thus producing a less
+perfect coin. It had been wiser to have introduced a sieve with an
+eccentric motion, which, if filled with sawdust, would shake that dust
+between the blanks and dry each one perfectly, when, by the removal
+of a false bottom, the sawdust could be allowed to sift itself from
+the blanks by one or two turns of the sieve, and the latter would be
+as soft as they invariably were before the introduction of the brass
+drum. This would be a matter of importance if, as is to be hoped,
+the authorities are induced to abolish the process of annealing and
+blanching, for then it would still be necessary to remove the film of
+oil which is left on the blanks in the cutting-out process, and this
+could be done more quickly and effectively in the proposed sieve than
+by _any other process_. The sawdust absorbs the water from the surface
+of the blanks just as would a piece of sponge; but the surface is not
+all, for it is found that by the removal of the copper the gold on the
+face of the blank has been brought almost into the condition known as
+_frosted_; it is, in fact, to a small extent, honey-combed. The gold
+represents the comb, and the copper the honey, but as the copper is
+removed, water takes its place, and has to be dislodged from these
+interstices by heat. The blanks, having been partially dried in the
+sieve A, are put into the tray B, and from this they were shot into
+the colander oven C, which was closed, and then thrust into the heated
+chamber D, and twisted gently round and round at intervals during ten
+minutes. The blanks were then turned out into a sieve E, by which any
+particles of dust were separated; the blanks were finally, by the aid
+of the tray B, placed in a bag. The sawdust fell from the sieve A on
+to a plate of iron heated by the furnace E, by which it was dried, and
+became ready for another operation. The chamber D was heated by a small
+furnace beneath it.
+
+[Illustration: Fig. 16.—Drying Room.]
+
+[Illustration: BOULTON’S SCREW-COINING PRESS.
+
+AS USED IN THE ROYAL MINT.]
+
+The blanks, having been thoroughly cleaned after annealing, are taken
+to the coining press, which at the present time is, as to efficiency,
+about what the old water-wheel is to the steam-engine; yet, as a relic
+of the past, it is a magnificent conception. It is perhaps the most
+interesting in its work of any of the coining machinery; its action
+is truly pleasing to watch, but one must feel that the totally deaf
+would enjoy the watching it at work more than do those who are endowed
+with the sense of hearing, because the noise of the presses would not
+disturb their thoughts. The noise is really painful. In these opinions
+Messrs. Fremantle and Napier express entire concurrence. The blanks
+taken from the colander oven are each by a single blow at this machine
+converted into coins possessing the obverse and reverse impressions,
+as well as the _crenated_ edge, which is one of the means employed to
+protect the coin from the peculations of the clippers, those enemies to
+coin of all ages and all countries, but whose business has departed,
+not so much from the crenated edge as from the better balances placed
+in the hands of almost every man—certainly within reach of every
+man. The crenated edge is known to be no protection against the plan
+called “sweating,” and which is effected by shaking the new coins in
+bags, when perhaps an ounce of gold may be obtained from 1,000 new
+sovereigns. The sovereigns thus treated are passed, and the operator
+makes his profit, but the light gold is detected by the balance, not by
+the eye. This is not the place to discuss[36] such a question, so that
+we pass on to a description of the machine which is used to give the
+image and superscription to coins which will be current in accordance
+with the law.
+
+The steel engraving illustrates Mr. Boulton’s screw-coining press. The
+blank is laid by the automaton hand D on the lower die F; D retires,
+and the collar then rises and encloses the blank, while the upper die,
+fixed to the main screw of the press by the securing apparatus M, comes
+down with a blow estimated to be about forty tons, and, striking the
+blank, causes its particles to re-arrange themselves, and to assume
+the form given by the engraving on the dies and the crenated collar
+which surrounds them;[37] in other words, the plain blank becomes by
+one blow a coin in every way complete. The following description will
+convey to the reader an explanation of the processes as they arise.
+The press having been set at rest, with the fullest space between the
+dies, is called _up_—that is to say, the upper die has been raised from
+the lower die, and in this position the automaton hand D has conveyed
+a blank from the tube E to, and holds it over, the lower die F; upon
+the first motion of the press downwards, the eccentric wheel or cam
+A causes the lever B, which works on the pivot _a_, to withdraw D by
+the pin C. The lever B may be lengthened or shortened at pleasure
+by an arrangement against the lower B. The first motion towards the
+withdrawal of D causes its finger or hand to open, and to release the
+blank, which falls upon the face of the lower die. The opening of the
+finger, or hand, is effected by a pin which works in a slit in the
+movable finger of D, near to C. The continuation of the motion which
+draws back D, causes the rods I, which are carried by the main screw
+G, to release the collar K, by the levers J. The collar K, being thus
+relieved from downward pressure, rises by the elasticity of the springs
+L until it wholly encloses the blank which has been left on the lower
+die. The rods I pass through the shoulder of the frame of the press,
+and are destined for another service besides that just described; for
+the main screw G, which travels through a female screw fixed in the
+frame of the press (as may be seen by the dotted lines between G and
+H), thereby receives its power to rise or fall upon each part of a
+revolution, whereas the upper die must strike the blank a blow just
+such as would be struck by a hammer, and without a twisting motion;
+therefore that motion of G is lost just below H, where G fits into a
+cup suspended rigidly on, and is prevented from twisting by, the rods
+I, as shown at N. To the lower part of the cup N is fastened M, which
+carries the upper die. So that, just at the moment that the levers J
+have permitted the collar to enclose the blank, the upper die reaches
+the full force of its blow, and comes upon the blank. The force of the
+blow, by converting the blank into a coin, causes an instantaneous
+recoil of the screw G, which is assisted in its rise by a kind of
+balance just equal to its weight. The nature of this arrangement
+will be better understood by reference to the engraving, where the
+funnel-shaped tube O is seen to be traversed by a rod X, represented by
+dotted lines, and which terminates in the head of the screw G near the
+lowest X; the opening in the funnel being for the convenience of fixing
+this rod to G. At Y is a swivel, where the twisting motion of X, given
+by G, is lost. X is connected at its upper end with a balanced beam
+W, the other end of which is in communication with the chamber V by a
+rod which carries a piston working in V. The chamber V is not wholly
+exhausted, but is in connection by a tube with the partially-exhausted
+chamber T, an arrangement which, while it becomes a counterpoise to the
+weight of the press, is used as a regulator of the blow to be given,
+so that it is quite possible to coin blanks of differing denominations
+by the agency of this chamber without altering the vacuum in the large
+vessel T.
+
+[Footnote 36: See pages 123-125.]
+
+[Footnote 37: See page 80.]
+
+The motive power of the press, that which brings down the die with
+force, is gained by the pressure of the atmosphere upon a piston in
+the cylinder R, and is conveyed to the press as follows:—The lever
+P is fixed firmly on to the trumpet-shaped tube O, and is connected
+by a series of rods, Q, with the piston in R, from which the tube S
+communicates with T. The large chamber T is kept in a constant state of
+partial exhaustion by the action of a thirty horse-power steam-engine,
+through a well-made iron tube of considerable length. The boy who works
+the press starts it by first pulling a cord _f_, terminating in the
+box in which he sits; the cord _f_, by its spring _n_, releases the
+valve _d_ at _i_, and permits it to act when required; he next pulls
+the cord _g_, which by its loose lever opens the valve _j_, through
+which the atmosphere passes freely across the bottom of the piston in
+the cylinder R into the tube S, and so into the partially-exhausted
+chamber T; this would cause a rush of air through the valve _d_, but
+_d_, at the instant of its release by the line _f_, is closed by a
+spring. Atmospheric air expands instantly if the pressure be removed
+from it, so that immediately on the opening of the valve _j_, the air
+beneath the piston in R expands, and part of it, entering the chamber
+T, produces an unequal pressure upon the upper and lower sides of the
+piston, and the result is that the piston is forced down by the weight
+of an atmosphere it is unable to support. By the time that the piston
+has completed its stroke, the rod _c_ has brought a button, which it
+carries on its farther side, and situated at _k_, down so low that it
+strikes the lever _l_, and closes the valve _j_, thus stopping the
+expansion of air below the piston, while the button _m_ has at the same
+instant permitted the falling of the lever _e_, and the consequent
+opening of the valve _d_; when the recoil of the screw G takes place,
+the piston in its descent expels (by compression) the small amount of
+air remaining in the cylinder R through _d_, thus opening it so that
+air can rush in at this valve and permit the rising of the piston. The
+rising of the piston insures the removal of the button at _k_, and so
+soon as _k_ is removed, _l_ is forced up by a spring at its farther
+end, and opens the valve _j_, thus giving the means of consecutive
+action to the press. If it be desired to stop the press, the boy
+loosens the line _f_, and so permits the spring _n_ to keep the valve
+_d_ permanently open. The boy, before supplying blanks to the tube E,
+piles them on an iron block _b_, and flattens each blank in the pile by
+one or two blows of a hammer on the top of the pile.
+
+In “European Mints” are some apt words, with which I conclude my
+remarks on this great invention of Mr. Boulton—great beyond compare
+at the period of its birth, great beyond admiration if its results be
+estimated faithfully and gratefully by a thoughtful people. We in our
+day are indebted to Mr. Boulton for his press; yet its age has passed,
+and as a park loses its timber, so must our Mint lose—sorrowfully
+to all who love the past—its glorious mementos of men who dwell in
+history to make present men mere manikins. Original minds are not
+now tolerated; subservience if you will; but invention—not if a man
+values or depends upon his office. Mr. Napier says truly, “The press
+just mentioned and its apparatus are complicated, scattered, and
+unhandy, reaching into three apartments, and require a foundation of
+great solidity, and a special construction of building. The noise and
+vibration accompanying their performance are disturbing to a greater
+extent than in the case of the blank cutting screw press to which
+reference has been made.”
+
+It has been conceived that coins are made of two discs of metal
+soldered together, and that the crenated edge is intended to hide
+the join. This notion has arisen from the occasional appearance of a
+cracked coin in circulation; the true explanation of the cracked coin
+being that at the time of pouring the fluid metal into the mould, an
+air bubble has been enclosed, and this air bubble has rent the fillet
+asunder at the time of its being rolled; but the separation does not
+exhibit itself until the final annealing, when it is too late for its
+discovery: recently, however, it has become a custom to ring the coined
+gold before it goes into circulation, and thus to detect and stop such
+defective pieces.
+
+[Illustration: Fig. 17.—Petition Crown.]
+
+[Illustration: Fig. 18.—Inscription on edge of the Petition Crown.]
+
+[Illustration: Fig. 19.—Fillet and Collar.]
+
+The origin of the crenated, commonly called the “milled,” edge (thus
+giving the name of the instrument to the substance operated upon),
+was the desire to make any clipping of the coin easily noticeable.
+Many devices were used, but John Evelyn suggested the motto, _Decus
+et tutamen_,[38] and this was retained for some coins until 1854. The
+crenated edge is now produced, without exception, and it is really
+the best, as admitting of easier detection if counterfeited. The
+distinctive marking of the edges of coins is of very early date, and
+was performed by various species of hand labour, each in its turn easy
+of falsification. At length this was effected by machinery, until
+finally the coin was formed by striking the blank while enclosed in a
+collar. The use of the collar, and its first invention, are somewhat
+doubtful; Mr. Hawkins, however, appears to have established the fact
+of its having been used at so early a date as William the Conqueror
+(_vide_ “Ruding,” vol. i. p. 158); but the earliest coin which gives a
+clear notion of the use of a collar is the celebrated Petition Crown
+of Simon, which he coined for and presented to Charles II. Fig. 17
+represents this very highly-prized coin, one of which was sold a few
+years since for £275. This wood engraving is by Messrs. Cheshire and
+Dickenson, from a fac-simile drawing taken by Mr. E. S. Gibson; it is
+an exact copy of the coin in the Mint collection. It is surrounded
+on its edge by a petition in raised letters, of which Fig. 18 is a
+fac-simile. The late Mr. W. H. Barton thought that this coin must have
+been struck while surrounded by a collar, or it could not have been
+produced at all. This opinion induced a further search for the collar
+which was used, and which is believed to be in existence, and to have
+been seen by men now living,—it is probably amongst the collection of
+curiosities of coining left by Mr. W. H. Barton. Mr. Barton suggested
+that the petition must have been engraved on a fillet of steel, which
+was then coiled up in a collar, as indicated by Fig. 19, and that the
+blank to be coined was then placed in the coiled fillet of steel.
+The coin having been struck, the fillet with the coin was knocked
+out from the collar, just as medals are now knocked out; and, once
+free, the fillet sprang off from the coin. This conjecture was so
+strongly confirmed by minute examination, that it may be interesting
+to represent the mode of operation by means of Fig. 19, where A is
+the engraved fillet coiled up and just ready to drop into the collar
+B; the opening C which is left is copied from the petition on the
+coin, which shows the metal to have been forced through this part of
+the fillet, where its ends, which were cut to fit each other, did not
+quite meet. The head of this protruding part has been filed off, the
+file marks still remaining visible on this part of the edge of the
+coin. This fact renders Mr. Barton’s conjecture almost a certainty.
+The coin weighs 517·10 grains; its average diameter is on the obverse
+1·5784 inches, and on the reverse 1·5837 inches, both measures having
+been taken on the extreme edge. The petition is somewhat sunken and
+rounding inwards; if therefore it be measured from its lowest part,
+the centre of the edge of the coin, the diameter of the coin is 1·5741
+inches, giving 0·0043 inch which must be worn away before the top of
+the letters of the petition can be touched in ordinary wear; thus the
+coin would circulate for centuries, and its petition still remain
+untouched. The coin being 0·0053 inch greater in diameter on its
+reverse than on its obverse side, admitted of its being more readily
+punched out from its collar, which was doubtless cut to admit of this
+design being carried out. The engraving on this coin is the cause of
+its great value, Simon having so perfectly carried out the idea that
+coins should represent sculpture, that this specimen stands wholly
+unrivalled as a coin. It has led to the impression that so good artists
+are not to be found at this day as flourished then. The fact is that
+artists seek such employment as remunerates them for their study; and
+until their conditions of employment are satisfied we must abstain
+from the desire to see coins such as were produced in ages past, and
+which gave an honourable name to the country producing them. It may be
+hoped that this means of preserving the history of the age in which so
+much has been done may be continued. It was probably from this collar
+of Simon’s that Sir Isaac Newton gained his idea for that which he is
+said to have invented. The collar of the present day leaves nothing
+to desire, for it gives so distinctive a mark to the edge of the coin
+that any mutilation must be detected; while forgers are unable to
+produce coins to imitate those struck in it, unless they use the same
+means, which would incur too great an expense. The coinages of Victor
+Emmanuel illustrate beautifully how easily coins may be struck, so
+that, after years of wear, they still represent the original more than
+creditably. To take an instance, a bronze coin, 5 centesimi, has been
+purposely subjected, for nine years, to more than ordinarily rough
+usage. This coin is little worn; the whole of the features are still
+perfect, except that the hair is worn off above the ears, and part of
+the moustache is removed. The secret of success in this coin appears to
+be that the ear and adjacent parts are slightly sunken, while the whole
+of the work and inscription are kept well below the protecting edges,
+and there is not an indistinct figure or letter on the coin.
+
+[Footnote 38: In Evelyn’s “Discourse of Medals,” 1697, p. 224, occurs
+the following passage:—“Mr. _Slingsby_, to whom I suggested the
+_Decus & Tutamen_ out of a _Viniet_ in _Cardinel de Richlieu’s Greek
+Testament_, printed at the _Louvre_, hindering his intended Addition
+(_in armis_), which neither would have become the _impress_, nor stood
+gracefully in the circle.”]
+
+In the British Mint false notions lead its authorities to believe that
+apparent saving is real economy; so far from such being the case, if
+our coins carried a better design they would not only look better, but
+wear longer, and still maintain their weight. While it is my intention
+to allude in another place to the large loss occasioned by our silver
+coinage, I submit to the reader the facts arrived at by Mr. William
+Miller, the late chief cashier in the Bank of England, who devoted
+great attention to the rate of wear of coins. He found that coins which
+had lost their protecting edges wear far more rapidly than those with
+a protecting edge, and showed me tabular statements demonstrating that
+fact. It was the intention of Mr. Miller to publish these tabulated
+results. However, his painfully early removal has, I fear, prevented
+that benefit being given to the public. His brother has no knowledge of
+their having been published; but Mr. George Forbes, the chief cashier
+in the Bank of England, has courteously given me a table closely
+allied to those of which I speak, and another to which I shall refer
+hereafter. I now, with permission, print this table, showing the rates
+at which coins of the different reigns have worn, and which rates all
+tend to prove clearly Mr. Miller’s opinion to have been correctly
+formed. The fact of the increasing rate of wear would appear to be
+explained by the larger surface exposed to friction by the removal of
+the protecting edge. When a little later I come to the discussion, on
+page 155, of the second table, I shall have occasion to say a few more
+words on this, which seems to find a fitting place on the preceding
+page, but contains matter which will cause too great a digression if
+dwelt upon now.
+
+A STATEMENT SHOWING THE RESULTS OF SOME EXPERIMENTS MADE UPON A LARGE
+NUMBER OF SILVER COINS, OF WHICH 169,000 WERE EXAMINED SINGLY, WITH THE
+VIEW OF ASCERTAINING THE PRESENT CONDITION OF THE SILVER CIRCULATION,
+AND THE LOSS BY WEAR.
+
+It should be observed that the average of loss by wear in a century,
+given in the Table, is founded upon the wear which the several coinages
+have undergone up to the present time; but as the rate at which a coin
+wears is an increasing rate, it is obvious that the actual loss in a
+century would be much greater than that here given:—
+
+    +------------+-------------------------+------------+--------------+
+    |            |  Amount Coined since    |  Withdrawn | Remaining in |
+    |            |          1816.          |    from    | Circulation. |
+    |            |                         |Circulation.|              |
+    +------------+------------+------------+------------+--------------+
+    |            |            |      £     |      £     | £            |
+    |            | Victoria   |    117,414 |            |      117,414 |
+    |CROWNS      | William IV |            |            |              |
+    |            | George IV  |    140,726 |            |      140,726 |
+    |            | George III |    321,750 |            |      321,750 |
+    +------------+------------+------------+------------+--------------+
+    |            | Victoria   |  1,043,251 |            |    1,043,251 |
+    |HALF-CROWNS | William IV |    380,556 |            |      380,556 |
+    |            | George IV  |  1,113,848 |            |    1,113,848 |
+    |            | George III |  2,387,088 |    252,870 |    2,134,218 |
+    +------------+------------+------------+------------+--------------+
+    |FLORINS     | Victoria   |  1,541,161 |            |    1,541,161 |
+    +------------+------------+------------+------------+--------------+
+    |            | Victoria   |  2,609,504 |        490 |    2,609,014 |
+    |SHILLINGS   | William IV |    412,038 |     49,944 |      362,094 |
+    |            | George IV  |    878,922 |    350,622 |      528,300 |
+    |            | George III |  3,304,224 |    867,674 |    2,436,550 |
+    +------------+------------+------------+------------+--------------+
+    |            | Victoria   |  1,182,339 |        298 |    1,182,041 |
+    |SIXPENCES   | William IV |    281,994 |     34,614 |      247,380 |
+    |            | George IV  |     81,378 |     47,738 |       33,640 |
+    |            | George III |    919,314 |    312,250 |      607,064 |
+    +------------+------------+------------+------------+--------------+
+    |            |           £| 16,715,507 |  1,916,500 |   14,799,007 |
+    |            |            |            |            |              |
+    |            |            |            |            |              |
+    |            |            |            |            |              |
+    |            |            |            |            |              |
+    +------------+------------+------------+------------+--------------+
+
+    LEGEND:
+       (A) = Average of _Loss by_ wear in 100 _Years_,
+             at the rate at which the Coinages of the several reigns
+             have worn, up to the present time.
+       (B) = Loss by wear on Amount withdrawn.
+       (C) = Loss by wear on Amount in Circulation.
+       (D) = Number of Coins examined singly.
+    +------------+------------+---------+-------+---------+-------+
+    |            |            |   (A)   |  (B)  |   (C)   |  (D)  |
+    |            |            |         |       |         |       |
+    |            |            |         |       |         |       |
+    +------------+------------+---------+-------+---------+-------+
+    |            |            |Per Cent.|    £  |     £   |       |
+    |            | Victoria   |   5·50  |       |         |       |
+    |CROWNS      | William IV |         |       |         |       |
+    |            | George IV  |   7·04  |       |   15,776|  4,000|
+    |            | George III |   7·46  |       |         |       |
+    +------------+------------+---------+-------+---------+-------+
+    |            | Victoria   |  14·17  |       |         |       |
+    |HALF-CROWNS | William IV |  15·30  |       |         |       |
+    |            | George IV  |  15·80  | 13,546|  250,270| 20,000|
+    |            | George III |  15·92  |       |         |       |
+    +------------+------------+---------+-------+---------+-------+
+    |FLORINS     | Victoria   |  15·00  |       |   10,147|  5,000|
+    +------------+------------+---------+-------+---------+-------+
+    |            | Victoria   |  26·55  |       |         |       |
+    |SHILLINGS   | William IV |  26·82  |       |         |       |
+    |            | George IV  |  28·74  |167,684|  413,044| 80,000|
+    |            | George III |  29·96  |       |         |       |
+    +------------+------------+---------+-------+---------+-------+
+    |            | Victoria   |  37·00  |       |         |       |
+    |SIXPENCES   | William IV |  39·00  |       |         |       |
+    |            | George IV  |  44·80  | 72,420|  221,380| 60,000|
+    |            | George III |  45·00  |       |         |       |
+    +------------+------------+---------+-------+---------+-------+
+    |            |            |         |       |  910,617|169,000|
+    |            |            |         |253,650|  253,650|       |
+    |            |            |         |       +---------+       |
+    |            |            |         |      £|1,164,267 total  |
+    |            |            |         |       |  loss by wear.  |
+    +------------+------------+---------+-------+-----------------+
+                                                        W. MILLER.
+    BANK OF ENGLAND, _December, 1860_.
+
+As further showing the rate of wear, I append a note which I have
+copied from the eighth volume of the _Journal of the Society of Arts_,
+written by Mr. John Miller, to whose courtesy I have often been
+indebted, and who shows that the general rate of wear is rather higher
+than would appear from the above facts, for his figures prove a loss
+by wear to the extent of £4 11_s._ 8_d._ on a hundred sovereigns in a
+hundred years, as will be seen in his letter which follows:—
+
+                     “BANK OF ENGLAND, GOLD WEIGHING ROOM,
+                                   “_29th August, 1859_.
+
+    “SIR,—According to your wish I collected one hundred
+     sovereigns of the date one thousand eight hundred and twenty,
+     which, on weighing, I find have lost in value one pound six
+     shillings and sevenpence.
+
+    “As these sovereigns were taken from parcels sent in from different
+     places, and at different times, during a long period, I think the
+     experiment is as likely to give a correct estimate of the loss
+     which the coin undergoes by wear as any that could be tried.
+
+                                “I have the honour to be, Sir,
+                                      “Your very obedient servant,
+                                     (Signed)       “J. MILLER.
+
+    “A. Latham, Esq., Deputy Governor.”
+
+That I may convey as accurate information as possible I also give the
+following tables from the same volume of the Society of Arts. These
+tables seem so clear as to render detailed explanation unnecessary.
+It would appear that coins wear pretty much in proportion to the kind
+of usage they receive; for Professor Jevons, in his pamphlet “On the
+Condition of the Metallic Currency of the United Kingdom,” shows
+indisputably that at the West End of London they suffer less than at
+the East End, where they are thrown with force on rough and often sandy
+benches while at the West they are treated with more consideration.
+
+RESULTS OF SOME CAREFUL EXAMINATIONS MADE IN 1858 OF LIGHT GOLD AND
+SILVER COIN OF THE EARLY YEARS OF THE PRESENT SYSTEM OF COINAGE, 1817
+TO 1825, TAKING 1822 AS THE MEAN OF THOSE YEARS.
+
+    LEGEND:
+       (A) = Mint Weight of each Coin.
+       (B) = Mint Weight of £100 worth.
+       (C) = Weight of £100 worth of old Coin.
+       (D) = Loss in 36 Years, 1822 as the Mean.
+    +---------------+---------+---------+---------+---------+
+    |               |   (A)   |  (B)    |   (C)   |   (D)   |
+    |               |         |         |         |         |
+    +---------------+---------+---------+---------+---------+
+    |               | Ounces. | Ounces. | Ounces. | Ounces. |
+    |Sovereign      |  ·25682 |  25·682 |  25·360 |    ·322 |
+    |Half-Sovereign |  ·12841 |  25·682 |  25·070 |    ·612 |
+    |Half-Crown     |   ·4545 | 363·636 | 345·850 |  17·786 |
+    |Shilling       |   ·1818 | 363·636 | 315·575 |  48·061 |
+    |Sixpence       |   ·0909 | 363·636 | 296·950 |  66·686 |
+    +---------------+---------+---------+---------+---------+
+
+The above data applied to 100 years give the following results:—
+
+    LEGEND:
+       (A) = Mint Weight of £100 worth.
+       (B) = Loss of Weight of £100 worth in a Century.
+       (C) = Loss of Value in a Century.
+       (D) = Loss of Weight of each piece in a Century.
+       (E) = Loss of Volume from 1,000 parts in a Century.
+    +----------------+---------+---------+--------+---------+---------+
+    |                |         |         |        |         |         |
+    |                |   (A)   |   (B)   |  (C)   |   (D)   |  (E)    |
+    |                |         |         |        |         |         |
+    +----------------+---------+---------+--------+---------+---------+
+    |                | Ounces. | Ounces. |   £ m. | Ounces. |         |
+    |Sovereigns      |  25·682 |    ·895 |  3·485 |  ·00895 |    35·  |
+    |Half-Sovereigns |  25·682 |   1·700 |  6·620 |  ·00850 |    66·  |
+    |Half-Crowns     | 363·636 |  49·406 | 13·587 |  ·06176 |   136·  |
+    |Shillings       | 363·636 | 133·503 | 36·713 |  ·06675 |   367·  |
+    |Sixpences       | 363·636 | 185·239 | 50·941 |  ·04631 |   509·  |
+    +----------------+---------+---------+--------+---------+---------+
+                                                    (Signed) W. MILLER.
+    BANK OF ENGLAND, _8th October, 1859_.
+
+In this interesting table Mr. Miller curiously shows that the loss of
+value and of volume bear equal relations to a coin, from which I infer
+that he went so far as to measure determinately the amount of water
+displaced by such coins as are referred to in these very valuable
+researches; that he possessed a rigidly honest mind I know from
+occurrences in my own dealings with him, and therefore I am sure his
+figures are the results of actual experiment, and so, entirely reliable.
+
+These facts show that before it is determined to withdraw our coins
+when they have reached the age of eighteen years, the Mint authorities
+should produce coins with a more perfect protecting edge, as was done
+at my suggestion for shillings and sixpences, and then by abolishing
+the annealing of blanks give to our coins a medium hardness so that
+they will be able to bear comparison with the Italian as regards wear
+and tear, and retain a juvenile appearance after the exercise, instead
+of their present smooth worn surface.
+
+The method of manufacturing the collar with the interior crenated
+circle, which is employed to give the protecting edge to the finished
+coin, is very simple:—A piece of flat, soft steel is bored with a hole
+of the required diameter, and is fixed in a lathe so that it may be
+made to revolve rapidly at pleasure. While the partly-formed collar
+is revolving in the lathe, the slide-rest is made to place a kind of
+cogged wheel, carried on a rod of steel, into the hole which has been
+bored; by a screw in the slide-rest, the cogged wheel is brought down
+until it touches the inside of the partly-formed collar; at the moment
+of contact, the cogged wheel is turned round by the friction of the
+collar against it, and its continued pressure upon the inside of the
+collar causes the latter to receive an imprint from the cogged wheel.
+When the imprinting is complete, the collar is hardened, and it is then
+fit for use at the coining press. The system of manufacture is supposed
+to be the most perfect; but it is manifest that no two collars are
+produced of exactly the same internal diameter; hence the coin issuing
+from each collar of the same denomination must, as it does, vary in
+diameter; but this is of small consequence, the difference being so
+minute that it is not detected unless by very accurate measurement;
+indeed, coins coming from the same collar must vary in size, since
+the collar wears away by use to a certain extent. The diameter and
+consequent thickness of a coin are not determined by law, but by its
+suitableness for the public to whom it is to be issued; consequently
+the usual mode of arriving at the diameter of a coin is to make it of
+such a size that it will emit the most musical sound it is capable of.
+This rule was not sustained in the case of the small florin—better
+known as the “godless florin;” hence, coupled with the omission of the
+_Dei Gratia_[39] in its superscription, the coin fell into disfavour.
+
+The following measurements, taken from a set of proof coins of the
+present reign, will convey an idea of the probable size of any coin
+of the realm; but from the reason before stated, a man need not be
+disappointed should he find the diameters differ from any he may
+examine by an accurate gauge. While stating the diameters (which never
+vary beyond a few thousandths of an inch), it is thought proper to give
+the legal weight and legal tender[40] of each denomination of coin
+current in Great Britain:—
+
+[Footnote 39: _Dei Gratia_ was also omitted on some of the coins of
+George I.]
+
+[Footnote 40: 33rd Vict., c. 10, cl. 4.]
+
+    +------------------------+-----------+-------------------+
+    |  Denomination of Coin. | Diameter. |  Weight in Troy.  |
+    +------------------------+-----------+----------+--------+
+    |                        |  Inches.  |  Grains. | Ounces.|
+    |Gold.    Sovereign      |   0·8680  | 123·2744 | 0·2568 |
+    |         Half-Sovereign |   0·7622  |  61·6372 | 0·1284 |
+    +------------------------+-----------+-------------------+
+    |         Crown          |   1·5048  | 436·3636 | 0·9090 |
+    |         Half-Crown     |   1·2714  | 218·1818 | 0·4545 |
+    |         Florin         |   1·1826  | 174·5454 | 0·3636 |
+    |         Shilling       |   0·9296  |  87·2727 | 0·1818 |
+    |         Sixpence       |   0·7648  |  43·6363 | 0·0909 |
+    |Silver.  Fourpence      |   0·6456  |  29·0909 | 0·0606 |
+    |         Threepence     |   0·6383  |  21·8181 | 0·4545 |
+    |            _Maundy._   |           |          |        |
+    |         Fourpence      |   0·6957  |  29·0909 | 0·0605 |
+    |         Threepence     |   0·6383  |  21·8181 | 0·4545 |
+    |         Twopence       |   0·5294  |  14·5454 | 0·0303 |
+    |         Penny          |   0·4388  |   7·2727 | 0·0151 |
+    +------------------------+-----------+-------------------+
+    |         Penny          |   1·3502  | 291·6666 | 0·6076 |
+    |Copper.  Halfpenny      |   1·1155  | 145·8333 | 0·3038 |
+    |         Farthing       |   0·8575  |  72·9166 | 0·1519 |
+    |         Half-Farthing  |   0·6953  |  36·4583 | 0·0759 |
+    +------------------------+-----------+-------------------+
+    |         Penny          |   1·2000  | 145·8333 | 0·3038 |
+    |Bronze.  Halfpenny      |   1·0000  |  87·5000 | 0·1822 |
+    |         Farthing       |   0·8000  |  43·7500 | 0·0911 |
+    +------------------------+-----------+----------+--------+
+
+    +------------------------+-------------------------------------+
+    |  Denomination of Coin. |         Legal Tender.               |
+    +------------------------+-------------------------------------+
+    |                        |     To the value of—               |
+    |Gold.    Sovereign      |    The highest sum                  |
+    |         Half-Sovereign |         known.                      |
+    +------------------------+-------------------------------------+
+    |         Crown          |                                     |
+    |         Half-Crown     |                                     |
+    |         Florin         |                                     |
+    |         Shilling       |                                     |
+    |         Sixpence       |                                     |
+    |Silver.  Fourpence      |     Forty shillings                 |
+    |         Threepence     |        sterling.                    |
+    |            _Maundy._   |                                     |
+    |         Fourpence      |                                     |
+    |         Threepence     |                                     |
+    |         Twopence       |                                     |
+    |         Penny          |                                     |
+    +------------------------+-------------------------------------+
+    |         Penny          | One shilling sterlg.   Proclaimed   |
+    |Copper.  Halfpenny      | Sixpence        ”        illegal    |
+    |         Farthing       | Sixpence        ”      since 31st   |
+    |         Half-Farthing  | Sixpence        ”    December, 1869.|
+    +------------------------+-------------------------------------+
+    |         Penny          | One shilling    ”                   |
+    |Bronze.  Halfpenny      | One shilling    ”                   |
+    |         Farthing       | One shilling    ”                   |
+    +------------------------+-------------------------------------+
+
+The press for coining is still defective: one of its defects is the
+production of imperfect coins, of which Fig. 20 is a common type. It
+is produced by the failure of the automaton hand to place the blank
+exactly on the lower die, so that the collar, when it rises, fails to
+enclose it; hence, when the upper die descends to strike the blank,
+only that part of it which is over the die is impressed, the collar
+being forced down by the pressure of the other part of the blank upon
+its upper surface. On other occasions the automaton hand drops its
+blank too early, or fails to bring it forward at all: on such occasions
+it sometimes receives a severe pinch, and retires with an impression
+produced on its end by the dies; and on either of these occurrences,
+the dies may come forcibly together, and disfigure each other, so that
+the next coin which is produced carries with it on each side a faint
+impression of both dies as well as its proper impression. This could
+never happen if the levers which carry the weights Z on the screw of
+the press performed actually the whole of the functions for which they
+are designed. A contrivance has been adapted to the coining presses
+to stop their action should the automaton hand fail to bring forward
+a blank for coining. This, after months spent in attempting its use,
+is set aside because it increases the evil it was intended to remedy.
+Fig. 21 is a representation of an imperfect half-crown which had been
+submitted twice to the process of coining, and by oversight passed into
+circulation in 1818. It had been current, and was taken in ordinary
+change in July, 1861; it is much worn, but on each side may be clearly
+traced the impressions of the obverse and of the reverse, singular
+effects being produced where the crown of the reverse fits so neatly
+on to the back of the head of his Majesty; and where, on the obverse,
+the shield displaces his Majesty’s face. This could hardly have been
+an accidental occurrence; it would seem that the workman of the press
+must have struck the coin properly, and then taken some pains to fit it
+into a larger collar and give it a second blow. If the collars were all
+of precisely the same size such an act would be impossible; but there
+are sufficient variations in the size of the collars to admit of this
+explanation. Some accidental productions have been called by ignorant
+writers _incused coins_, and conjectural histories of them have been
+published; when, in fact, their history is simply this: it so chanced
+that the coin last struck remained upon the upper die, and gave its
+lower-side impression to the upper side of the next blank which was
+coined. This is no uncommon occurrence, and the effect of it would be
+that such a coin would have the same device on each side; but of course
+one would present the design in relief and the other in intaglio.
+
+[Illustration: Fig. 20.—Brockage.]
+
+[Illustration: Fig. 21.—Brockage.]
+
+Such being some of the imperfections of Mr. Boulton’s coining press,
+it may perhaps be assumed that they can be readily overcome; but I am
+not aware of the existence of any press which is free from them. The
+French press has, however, many advantages, and the Mint authorities
+have recently had a new one made, from which extraordinary results
+were anticipated, but it now appears that this is simply another
+improvement of the usual type, and that it has cost about £1,500 and
+remains on the premises of the manufacturers.
+
+As the coined money issues from the press it is collected in trays
+and examined; all imperfect coins, curiously termed “brockages,” are
+picked out; and the good coins weighed into drafts of 701 sovereigns,
+equal in weight to about 180 ounces: these are at present sent to the
+weighing room, where they are examined for imperfect coins by passing
+over a kind of blanket, so arranged on a series of rollers that each
+coin lying on its surface can be seen as the blanket revolves. The
+blanket covered with coins is carried round a set of rollers, and thus
+produces them on the upper side of a lower blanket, when the reverse
+side can be seen. The effect of this machine is to worry the eye, if
+constant watching be enforced, for no one can watch a string of coins
+in continuous motion _and see each one_. A very minute alteration of
+this machine would cause it to stop for a few seconds at intervals, and
+during that stoppage the accustomed eye could readily detect and select
+the imperfect coin.
+
+After this overlooking, the coins are rung as blanks used to be, and
+then weighed separately, _all_ the rejected going to the melting-pot,
+by which a waste[41] of 50 per cent. is incurred at the extreme end of
+an elaborate process; but this unwise course, it is to be hoped, will
+soon be abandoned when its expensive and perfectly useless extravagance
+is considered. After the various operations of the weighing room the
+coin is collected and weighed into separate bags, each containing 701
+sovereigns; the exact weight of the contents of each bag is noted;
+and, the bags having been placed in a truck, are taken to the Mint
+Office, where they undergo what is called _pyxing_, which is simply the
+selecting from each and every bag a pound weight, from which two coins
+are taken; each coin is weighed and its weight recorded. Of these coins
+one is placed in the hands of the assayer to determine its value as
+to per-centage of gold, and the other is sealed in a packet, which is
+placed in a _pyx_ for the trial of THE PYX at Westminster—an ancient
+process now useless, because any skilled man can detect by assay a
+deterioration of the coin. These particulars having been taken, the
+coin is in due course delivered to the officers of the Bank of England,
+who conduct it in amounts of about £140,000 to the Bank in a waggon.
+
+The law enacts that 20 lbs. weight troy of standard or crown gold shall
+be made into 934·50 sovereigns, and this proportion gives the means of
+determining the theoretical weight of one sovereign; for if the 20 lbs.
+troy weight produce 934·50[42] coins, it is only necessary to divide by
+that number the number of grains in 20 lbs. troy, and the quotient will
+represent the weight of a single sovereign, viz., 123·2744783306581059
+troy grains; therefore the journey of 701 sovereigns should weigh
+180·032102728731942215 troy ounces, and a million 256821·829855377
+troy ounces, equal to 7·8618927506797 tons avoirdupois; hence the War
+Indemnity of France will weigh 1572·37855 tons.
+
+[Footnote 41: See pages 42-45, 108, 109.]
+
+[Footnote 42: See pages 73, 123, 124.]
+
+Since the coins of a people must represent food in proportion as they
+are of specific weight, it is to be regretted that the law does not
+fix the weight (with a remedy) of the individual sovereign, instead of
+fixing the number of coins in 20 lbs. weight, and giving a remedy[43]
+of 12 grains on the pound troy. Irrespective of law, the practice of
+the Royal Mint is to apportion the estimated amount of remedy (or
+latitude for error) to each coin; but in America the pound weight alone
+is studied; hence the individual coins vary so considerably in weight
+that it pays as a commercial speculation to select the heavy coins, and
+to sell them as bullion; thus leaving the light coins in circulation,
+to the dishonour of the nation, because if a man take 1,000 American
+gold coins to the Bank of England they will not be received at their
+nominal value, but as bullion; hence the loss becomes personal, and so
+the coins of America cannot, and do not, stand on a par with those of
+England.
+
+[Footnote 43: See pages 39, 73, 124.]
+
+The paragraph above has stood unaltered since the first edition, and I
+reproduce it because its history is perhaps curious. Mr. Graham, soon
+after I entered the Mint, commenced urging reasons why the system of
+weighing coins individually, which he considered expensive, should be
+abandoned; as well as I was able I met his proposition by firm but
+adverse arguments, until at last he “ordered me to omit the weighing
+of individual pieces, and to _pound the work_ as is directed by law.”
+I therefore asked him, as the matter was a very grave one, to _write
+the order_. This he refused to do, and thought it hard of me to require
+a written order, and so the matter dropped; when, however, Mr. John
+Graham was appointed, Mr. Graham told me that he could now carry out
+his wishes without a “written order.” In the meantime he had asked me
+“to write a treatise on coining for Tomlinson’s Cyclopædia—in fact,
+I have already referred Mr. Tomlinson to you, and he will call; your
+difficulty will be to compress your information into a sufficiently
+small space.” After so long an attempt to preserve the accuracy of our
+coinage, I felt unwilling to allow such an opportunity to pass, and
+therefore placed my opinions in print, and thereby gave Mr. Graham so
+deep an offence that he refused to place my book in the Mint library,
+although I gave him a copy for that purpose; it was still absent from
+those shelves when I left the Mint. In August, 1864, Mr. John Graham,
+acting under the “Master’s orders,” directed “that the contents of only
+one bag in three should be weighed,” and this was carried out till
+pieces which bore the device of florins found their way to the Bank of
+England, and amongst them were found some of the intrinsic value of
+1_s._ 6_d._, while others reached so high as 2_s._ 9_d._ Mr. Graham was
+greatly distressed about this occurrence, and, notwithstanding his
+brother’s position, directed me to stop this new system at once. He
+then attributed the innovation to myself, and blamed me for all that
+had happened. I therefore told him that he, and he alone, was to blame,
+for I had persistently refused to do it unless fortified with a written
+order. This caused, as I felt at the time, our final separation; but
+had I been willing to accept blame which belonged, as I told him, to
+himself first, and in a lesser degree to his brother, he would have
+made it a fair ground for my removal from the Mint—a result he had
+earnestly endeavoured to effect. I was so far free from blame that I
+was actually absent from the Mint part of the time, and during the
+remainder refused to enter the room where the blanks were cut, such
+action on my part resulting from a desire to protest firmly, by deed as
+I had done by word, against what I knew to be a fatal step. The wisdom
+of my proposition to apportion the remedy to the individual piece
+was so apparent that the Legislature incorporated it in the Act 33
+Victoria, cap. 10, and as detailed information may be of special value
+to many, I quote the first schedule to that Act on the opposite page.
+
+That others concur in my thus claiming the origination of the
+apportionment of the remedy to the individual piece, is, I think,
+clearly demonstrated by the subjoined letter, which appeared in the
+Money Market and City Intelligence of the _Times_, on Thursday, March
+10, 1870.
+
+“The following relates to the coinage question:—
+
+     “_March 8th._
+
+    “SIR,—In your article of this day you draw attention to
+      Mr. Ansell’s new work, ‘The Royal Mint,’ which I have studied
+      carefully. I shall feel obliged if you will permit me, through you,
+      to direct the attention of members of Parliament to the suggestion
+      thrown out by Mr. Ansell in his ‘Treatise on Coining’ in 1862, and
+      repeated in the book above alluded to.
+
+    “In the New Coinage Bill, which is to be discussed on the 10th inst.,
+     the Chancellor of the Exchequer would appear to have adopted in part
+     the proposal of Mr. Ansell, to make the remedy on the individual
+     coin, instead of on the pound weight of coins, as is now the law.
+     Mr. Ansell gives very strong reasons, besides the expense, why
+     0·2568 grain should be enforced as the legal remedy on the
+     individual coin, and surely, while the legislature is invited by
+     Mr. Lowe to adopt 0·20 grain, it would be wise that those reasons
+     should be considered, for the Act, once obtained, will be difficult
+     to repeal, and the Mint seems capable of improvement.
+                    “I am, Sir, your obedient servant,
+                                               “NUMMORUM FAMULUS.”
+
+I may add that Mr. Fremantle has purchased a copy of my last impression
+for the Mint Library.
+
+The coinage of silver is precisely the same in every detail as the
+coinage of gold; but there are one or two points that require to be
+dwelt upon. Weight for weight, silver is more bulky than gold, and is
+coined in larger quantities; hence it has become important to expedite
+its coining by every means. Thus, in the process of annealing, it is
+simply placed unprotected, except by a lid of iron, upon an iron truck,
+and run into the annealing furnaces, from which, after twenty minutes,
+it is withdrawn and plunged at once into cold water. In the annealing
+of the silver blanks it is important to have the copper of the alloyed
+metal removed from their surface; this is effected by annealing the
+blanks for from seven to ten minutes in open pans, when the copper
+becomes oxidised, and is removed by the process of blanching, described
+under the coining of gold.[44]
+
+[Footnote 44: See pages 48, 49.]
+
+    FIRST SCHEDULE.
+
+    +--------------------+----------------------+----------------------+
+    |                    |   Standard Weight.   | Least Current Weight.|
+    |  Denomination of   +-----------+----------+-----------+----------+
+    |       Coin.        | Imperial  |  Metric  | Imperial  |   Metric |
+    |                    |  Weight.  | Weight.  |  Weight.  |   Weight.|
+    |                    |  Grains.  |  Grams.  |  Grains.  |   Grams. |
+    +--------------------+-----------+----------+-----------+----------+
+    |Gold:               |           |          |           |          |
+    |  Five Pound        | 616·37239 | 39·94028 | 612·50000 | 39·68935 |
+    |  Two Pound         | 246·54895 | 15·97611 | 245·00000 |  5·87574 |
+    |  Sovereign         | 123·27447 |  7·98805 | 122·50000 |  7·93787 |
+    |  Half-Sovereign    |  61·63723 |  3·99402 |  61·12500 |  3·96083 |
+    |                    |           |          |           |          |
+    +--------------------+-----------+----------+-----------+----------+
+    |Silver:             |           |          |           |          |
+    |  Crown             | 436·36363 | 28·27590 |     —     |    —     |
+    |  Half-Crown        | 218·18181 | 14·13795 |     —     |    —     |
+    |  Florin            | 174·54545 | 11·31036 |     —     |    —     |
+    |  Shilling          |  87·27272 |  5·65518 |     —     |    —     |
+    |  Sixpence          |  43·63636 |  2·82759 |     —     |    —     |
+    |  Groat or Fourpence|  29·09090 |  1·88506 |     —     |    —     |
+    |  Threepence        |  21·81818 |  1·41379 |     —     |    —     |
+    |  Twopence          |  14·54545 |  0·94253 |     —     |    —     |
+    |  Penny             |   7·27272 |  0·47126 |     —     |    —     |
+    +--------------------+-----------+----------+-----------+----------+
+    |Bronze:             |           |          |           |          |
+    |  Penny             | 145·83333 |  9·44984 |     —     |    —     |
+    |  Halfpenny         |  87·50000 |  5·66990 |     —     |    —     |
+    |  Farthing          |  43·75000 |  2·83495 |     —     |    —     |
+    +--------------------+-----------+----------+-----------+----------+
+
+    +--------------------+----------------+----------------------------+
+    |                    |                |    Remedy Allowance.       |
+    |  Denomination of   |                +-----------------+----------+
+    |       Coin.        |     Standard   |Weight per piece.|Millesimal|
+    |                    |     Fineness.  +--------+--------+Fineness. |
+    |                    |                |Imperial| Metric |          |
+    |                    |                | Grains.|  Grams.|          |
+    +--------------------+----------------+--------+--------+----------+
+    |Gold:               |                |        |        |          |
+    |  Five Pound        | Eleven-twelfths| 1·00000| 0·06479|          |
+    |  Two Pound         |    fine gold,  | 0·40000| 0·02592|   0·002  |
+    |  Sovereign         |   one-twelfth  | 0·20000| 0·01296|          |
+    |  Half-Sovereign    |     alloy;     | 0·10000| 0·00648|          |
+    |                    | or millesimal  |        |        |          |
+    |                    |fineness 916·66.|        |        |          |
+    +--------------------+----------------+--------+--------+----------+
+    |Silver:             |                |        |        |          |
+    |  Crown             |                | 1·81818| 0·11781|          |
+    |  Half-Crown        |                | 0·90909| 0·05890|          |
+    |  Florin            |   Thirty-seven | 0·72727| 0·04712|          |
+    |  Shilling          |  fortieths fine| 0·36363| 0·02356|          |
+    |  Sixpence          |      silver,   | 0·18181| 0·01178|   0·004  |
+    |  Groat or Fourpence| three-fortieths| 0·12121| 0·00785|          |
+    |  Threepence        |     alloy; or  | 0·09090| 0·00589|          |
+    |  Twopence          |    millesimal  | 0·06060| 0·00392|          |
+    |  Penny             |   fineness 925·| 0·03030| 0·00196|          |
+    +--------------------+----------------+--------+--------+----------+
+    |Bronze:             |                |        |        |          |
+    |  Penny             |   Mixed metal, | 2·91666| 0·18899|          |
+    |  Halfpenny         |   copper, tin, | 1·75000| 0·11339|  None.   |
+    |  Farthing          |     and zinc.  | 0·87500| 0·05669|          |
+    +--------------------+----------------+--------+--------+----------+
+
+     The weight and fineness of the coins specified in this
+     Schedule are according to what is provided by the
+     Act fifty-six George III., chapter sixty-eight, that
+     the gold coin of the United Kingdom of Great Britain
+     and Ireland should hold such weight and fineness as
+     were prescribed in the then existing Mint indenture
+     (that is to say), that there should be nine hundred
+     and thirty-four sovereigns and one ten-shilling piece
+     contained in twenty pounds weight troy of standard
+     gold, of the fineness at the trial of the same of
+     twenty-two carats fine gold and two carats of alloy in
+     the pound weight troy; and further, as regards silver
+     coin, that there should be sixty-six shillings in
+     every pound troy of standard silver of the fineness
+     of eleven ounces two pennyweights of fine silver and
+     eighteen pennyweights of alloy in every pound weight
+     troy.
+
+In annealing the precious metals, it is intended to use large retorts
+of Stourbridge clay instead of the naked flame, as is the present
+practice. The advantage of using retorts will be the protection
+they will afford to the substances to be annealed, and the uniform
+temperature at which they may be kept for any required time. So great
+are the obstacles to improvement in the British Mint, that, although
+this suggestion was made by me, and plans were prepared, in June,
+1861, the necessary alterations have not yet been attempted; indeed,
+it has been reserved to Mr. P. F. Comber, the intelligent chief coiner
+of the New Mint in Melbourne, to adopt this suggestion. The furnace
+for his use has been made by Messrs. Deane, of Arthur Street East,
+London Bridge, who, from experience, know this kind of furnace to be
+successful; indeed, it has been long used to gain higher temperatures
+than are required for metals in the annealing of glass, pottery, &c.
+I have recently been permitted to make a long series of experiments
+at the works of the Patent Fuel Company, on their wharf at Deptford,
+and these have convinced me that their mode of converting hydrocarbons
+into vapour, and burning that vapour with a proper supply of air under
+pressure, could be applied in the Mint with great advantage to the
+heating of the annealing furnaces, especially if the authorities of
+that department should adopt the retorts proposed.
+
+In my previous editions I have suggested the use of these retorts,
+and I am glad to see that the Royal Mint is likely to adopt them, for
+Mr. Napier recommends them in his Report, and Mr. Roberts not only
+coincides in that recommendation, but specifically says, “It is a
+question for consideration whether muffles of clay instead of iron, and
+gas as fuel, might not be used with advantage.”
+
+The coinage of bronze is somewhat new; that is to say, it has, after
+centuries, been re-introduced; and as little is known respecting it, it
+will be well to consider one or two circumstances connected therewith.
+The dimensions of the bars are previously given,[45] those measurements
+were determined by me after much troublesome experimenting, and
+the bars are found to be capable of producing the best blanks, as
+regards equality of weight one for another, with the least labour.
+In the rolling of bronze there are some singular facts to be noted;
+for instance, the finding the same metal at one time ductile, and at
+another absolutely brittle; yet if the bronze has been properly melted,
+with due precaution to avoid the access of atmospheric oxygen, it is
+uniformly malleable and ductile, and may be rolled from such bars as
+described without once annealing. It is sometimes preferred not to use
+the knowledge gained, and then complications commence. The following
+mode of operating will meet all cases:—The bars may be rolled down to
+half their thickness, and then will anneal perfectly well in an open
+furnace on an iron truck. The heating should be conducted rapidly,
+and when the fillets get to a full red heat they should be withdrawn,
+thrown out singly on the floor, and allowed to remain till perfectly
+cold. Should any bars be annealed in the rough state, they must be kept
+away from water. A little water thrown upon the end of a bar when red
+hot causes it to become rotten throughout, and on submission to any
+pressure it will fall to pieces as would gingerbread; yet if the bars
+be partly rolled to a certain proportion of their thickness, they may
+be plunged at once into cold water without damaging them for work.
+After annealing, the fillets should be blanched in diluted sulphuric
+acid, containing one per cent. of the ordinary commercial acid. It is
+well to save time by blanching two or three tons at a time; but a few
+minutes effect all that is required—that is, the separation of the
+film of oxide from the surface. The film is then removed by a mop made
+of rag or cotton waste, and with little labour a few boys may clean
+many tons in a day. Fillets which have been blanched before being
+rolled produce clean and bright blanks. The blanks require somewhat
+different treatment. It is better to anneal them in copper tubes. The
+bottom of the tube should be covered to about the depth of an inch
+with charcoal dust, then the tube filled with blanks, except allowing
+for another layer of coarse charcoal dust, and the top put on to the
+tube. The annealing should not occupy more than thirty-six minutes;
+the highest temperature should be that at which the tube looks a full
+reddish white, and this should be gained as rapidly as possible. The
+tube, after removal from the furnace, should be allowed to remain at
+rest till perfectly cold. The charcoal is intended to combine with the
+oxygen, which would otherwise combine with the metals of the bronze
+during the heating and the cooling of the blanks in the copper tubes.
+Having regard to the production of perfect coins, the blanks should be
+cooled in an atmosphere of ordinary coal gas, by which every particle
+of oxygen is prevented from access, and a great part of the oxides
+already existing in the alloy reduced by the combination of their
+oxygen with the hydrogen of the coal gas, thus leaving the blanks
+somewhat porous, and comparatively soft, so that, when coined, the
+metal wholly fills the work on the dies, and the coin is produced with
+a good protecting edge. Bronze as used at the Royal Mint consisting of
+95 of copper, 4 tin, and 1 zinc in 100 parts—zinc should be omitted
+because it causes useless labour—may be coined to great perfection
+if the blanks be cooled in coal gas after annealing: whereas bronze
+of a far softer nature cannot be made to fill the work of the dies
+satisfactorily by any other method yet known, unless the engraving
+on the dies be very shallow. The bronze coins, which have replaced
+the old copper money, have what is considered to be an innovation in
+the inscription by the repetition of the T in the abbreviation of
+Britanniarum, which is simply the classical mode of expressing in an
+abbreviated form the number of the possessions which together form
+Great Britain; it is equivalent to MS., which is the abbreviation for
+manuscript, while MSS. represents the word manuscripts; so BRITT.
+represents the cluster of islands or possessions called Great Britain.
+The objection to BRITT., on the ground of its being an innovation, is
+singular, as this word occurs on the shillings of George III., coined
+in 1816. It is also curious that the original dies for the bronze
+coinage were made to carry BRIT. only, until a coin found its way
+into the hands of the Right Hon. W. E. Gladstone, who at once pointed
+out the error, and thus caused the re-introduction of the classical
+BRITT. Mr. Gladstone also suggested the issue of octagonal bronze
+coins, which undoubtedly would have been a mistake had it been adopted.
+Perhaps it may not be uninteresting to record that the pattern penny in
+bronze, which was submitted to and approved by her Majesty, was lost
+in its passage through the post, for the postman opened the letter and
+destroyed both it and the penny in a closet in the Royal Mint. Copper
+and bronze money are merely tokens; it is therefore well to reduce such
+tokens to as low a weight as is consistent with the rigidity of the
+coin.
+
+[Footnote 45: See page 9.]
+
+By Royal Proclamation, dated at Windsor, 13th of May, 1869, the
+old copper moneys are declared illegal; or, in the words of the
+proclamation, “No copper moneys whatsoever (other than and except
+such bronze moneys as are now current by virtue of our proclamation
+bearing date the 17th day of December, 1860, or any proclamation dated
+subsequently to the said 17th day of December, 1860) shall be allowed
+to pass or be current in any payment whatsoever within the kingdom of
+Great Britain and Ireland after the 31st of December, 1869.” So that
+since that date no copper moneys have been legally paid away. This,
+however, will not affect those who wish to preserve copper coins of
+this or former reigns as specimens.
+
+As dies are the means by which metal becomes COIN, it will be material
+to add the processes of their manufacture. Experience alone can
+indicate the proper steel to be used, so that it is useless to attempt
+a description. But the form of the steel is a matter upon which
+die-makers differ. Some use square bars of that metal, and cut off
+pieces, which are forged into the proper form for dies; however, the
+more experienced die-makers use round bars of steel, which are cut by a
+tool somewhat of the shape of the bar, so that when the tool is struck
+every part of its edge begins to cut. The tool is so shaped as to leave
+the end of the bar from which the piece has been cut quite square, so
+that it may form the bottom for the next piece cut off. The piece of
+steel thus cut off is taken to a lathe, where its upper end is turned
+somewhat into the form of the top of a sugar-loaf; the depth of this
+form being determined by the style of work to be impressed upon the
+steel when it is to be formed into a die. For the original matrix the
+piece of steel is turned to a flat end, and is usually strengthened by
+driving a carefully-welded ring of hot iron on to it: although some
+prefer thus to simply shrink on a ring of iron, the more experienced
+choose welding, because that which is shrunk on is never so solid,
+and is apt to enclose air bubbles, which prevent the mass becoming
+one, thus permitting an undue yield in a faulty spot when pressure is
+applied. In the making of a matrix, the steel is softened to different
+extents by different engravers, but all soften more or less. The steel
+having been softened, the engraver cuts with a kind of hand chisel,
+by a motion of the wrist, such design as may be required, and after
+many months of work produces a finished matrix, from which he requires
+to produce many copies, because this one matrix would itself soon
+wear out, and by frequent use would be more exposed to risk. It is,
+therefore, hardened to admit of its being submitted to such pressure
+from another piece of steel as to impart its design to that steel
+without itself being distorted by the pressure. For this purpose the
+matrix is fitted with a ring of iron round its upper part, which, when
+fitted on, gives the engraved part the appearance of being the bottom
+of a cup; this cup is filled with a paste made of beer grounds and
+fine charcoal dust, or, better still, with that small charcoal which
+is found behind the flue of the forge—a kind of soot produced by the
+spent sparks which fly upwards, and which is so much in request by the
+file-makers. Thus protected, the matrix should be placed in the naked
+fire wholly enclosed with fuel, and heated as rapidly as possible,
+keeping it constantly turned round and round, so as to insure each
+particle of its mass being equally heated; a quarter of an hour should
+be long enough to produce the necessary temperature. It must be borne
+in mind that the great principle is to avoid the decarbonisation of
+the steel, therefore the less time that is occupied the better. The
+temperature of the matrix should be that rich and peculiar full red
+which for a few seconds is visible before white heat supervenes, for
+a white heat once gained causes the steel to scale off, and renders
+the matrix partially worthless. This peculiar temperature once gained,
+the matrix must be permitted to remain for three minutes in the fire
+without any blast. If it should get too hot it must be cooled by adding
+exhausted fuel from the hearth. At the end of three minutes’ quiescent
+heating it may be assumed that the centre of the matrix has become of
+the same temperature as its outer particles; it is then taken quickly
+from the furnace and placed in a kind of colander, so that water may
+wholly envelope it, and yet flow freely past it while its under surface
+is wholly exposed. The matrix C is placed in the colander D, Fig.
+22, bottom upwards, and is then brought immediately under the pipe
+dependent from a kind of funnel A, which should hold at least a hundred
+gallons of cold water; the bottom of the pipe must be secured by a plug
+of wood B, capable of being knocked out instantaneously. This is the
+most important process in the hardening of the matrix, and requires
+considerable steadiness with great rapidity of motion. The matrix
+being held in the colander about half an inch above a large surface
+of water E, and immediately under the centre of the plugged pipe from
+the funnel, the plug B is knocked out from the pipe, and the water
+falls in a continuous stream wholly unbroken until striking the very
+centre of the base of the matrix, thus securing the commencement of the
+process of hardening FROM THE CENTRE. So soon as this first shock of
+the flowing water has been effected, the matrix must be sunk into the
+vessel of water below, until it is uniformly covered to the depth of
+half an inch, and must be held there until the whole of the water from
+the funnel has run out; then the matrix must be sunk to the bottom of
+the vessel of water, and allowed to remain till absolutely cold. If it
+be removed before it be cooled throughout, there is great danger of a
+crack on its surface being produced by the expansion from within. The
+plug is preferred to a tap in the pipe from which the water is to flow,
+because the turning of a tap gives a motion to the water, which causes
+it to fall in a hollow stream, and thus obviates the very effect which
+it is desired to produce. This process has been followed for more than
+thirty years, and during that time the manufacturer who uses it—one of
+the most eminent engravers and die-makers in Europe—has never met with
+any accident, nor has he found any failure. I have recently visited a
+manufactory in South Yorkshire in which many thousands of dies are made
+annually on this system, without an instance of failure. Die-makers,
+after the hardening, proceed as follows:—Remove the paste of charcoal
+from the face of the matrix, and then clean the face of the die with
+hydrochloric acid. After this it is tempered—that is to say, it is
+raised to a temperature which somewhat relaxes the rigidity of its
+particles; this is commonly judged of by the COLOUR which the face of
+the matrix assumes; but since no two men are likely to distinguish the
+same tint, nor can any one actually judge of colour unerringly, it is
+wise to adopt another standard, the one most preferred being to temper
+the matrix until the engraver can make a good graver _bite_ while the
+die is hot. The tempered die may be cooled by plunging it either into
+oil or into water as soon as the tempering has reached the desired
+point. If at this instant the tempering cease, when the die is dead
+cold the graver will no longer touch the steel, which is now just so
+hard as to resist a blow without fracture. It is next polished, and is
+then fit for use; that is to say, is fit for the multiplication of dies
+from itself.
+
+[Illustration: Fig. 22.—Die Hardening.]
+
+The multiplication consists in the taking a set of punches, each
+being an exact copy of the matrix. The steel, having been formed
+into masses with sugar-loaf tops in accordance with the depth of the
+engraving, is ready to receive the impression from the matrix, just
+as hot sealing-wax is ready to receive the impression from a signet.
+The matrix is placed beneath a press, and on its face is placed the
+sugar-loaf end of the annealed mass of steel; a very light blow is
+given by the press, so as to obtain simply the sinking of the first
+portion of the cone, for if a violent blow be given at this stage it is
+manifest that a large mass of steel is forced into a smaller space; in
+other words, the particles of steel which formed the cone are pressed
+into a dense mass on the surface of the intended punch, and prepare a
+crack, which by-and-by developes itself. After this light blow, the
+partly-formed punch is placed in a covered pot filled with charcoal,
+and heated in a furnace just as was described for the hardening of
+the matrix, bearing in mind that it is the cooling, not the heating,
+which softens the steel. So soon as the heating has been raised to the
+point before indicated, the pot containing the punch is removed, and
+bedded in hot ashes, and there left to cool as slowly as possible; it
+should be forty hours before it becomes cold. When cold it is cleaned,
+receives a second very light blow under the press, examined, afterwards
+receiving a third very light blow, and is then a second time annealed,
+&c. The number of blows required to bring out to perfection on the
+punch the work on the matrix, depends entirely upon the size of the
+matrix and the depth of the work engraved upon it. For these reasons,
+no accurate instructions can be given; but for all cases light blows
+should be made, because all metals mould more readily under gentle
+treatment.
+
+From the punch is obtained, by processes which should be in every way
+similar, a series of dies for the use of the coining press. Each die
+from the punch is examined, and has the figures for the date impressed
+upon it before it is hardened. The dies are of two kinds: one, C, the
+obverse, with a long neck, upon which the collar B fits freely, and a
+second, the reverse, with a short neck, so that the face of the die
+just enters the collar sufficiently to meet and compress the blank.
+Fig. 23 demonstrates these two dies, and exhibits the collar, showing
+at B the milled interior circle, which gives the crenated edge to the
+finished coin at its formation. For the past few years the reverse die
+has been made to carry, in addition to its recognised device, a small
+number, with a view to determine at which coining press, and on what
+particular day, that die was used, that bad work might be traced to an
+individual. It need hardly be said that the accidents encountered in
+daily work overcome the object thus sought, for a die may last either
+minutes or days in wear owing to the irregularities of the steel from
+which it is made, and besides, the boys who work the presses are of
+necessity changed at irregular intervals.
+
+[Illustration: Fig. 23.—Coining Dies and Collar.]
+
+The long-necked die is fitted into a bolster D, as shown in Fig. 23,
+and is prevented from shifting its position in that bolster by a plug
+of iron indicated at E. The bolster, with its die, is secured in a kind
+of dish beneath the screw of the press by a series of screws, which
+admit of adjusting the bolster so that the die it carries shall be
+placed immediately beneath the upper die, which is carried on the main
+screw G of the press, as may be seen at page 60.
+
+There is little doubt but that certain stages of die manufacture
+would be rendered more effective if more reasonable treatment were
+employed. It has yet to be demonstrated that carbon steel is the best
+metal that can be employed, for it seems more than probable that some
+alloys would render a metal which would possess within itself more of
+the properties which are necessary for the perfecting a die, and for
+its duration when in use. For the elimination of such an alloy we must
+await the time when the non-resident assayers are replaced by resident
+chemists who, during the leisure times in the Mint, will be willing
+and glad to experiment on some of the compounds of iron with the rarer
+metals, for in that field will surely be found a combination which
+will be definite, and therefore homogeneous and unvarying. There can
+be no doubt that the cause of the uncertainty which prevails as to the
+endurance of steel for dies arises from its unequal composition.
+
+Gold possesses as many colours, and exists in as many conditions,
+as any substance ordinarily met with. Those various changes are due
+to the existence of impurities in the metal, which are neglected in
+assaying, because the only business of the assayer is to determine
+that the sovereign actually contains the lawful weight of pure gold,
+and also so much alloy as is specified: what this alloy shall be is,
+in the abstract, a small matter so that it is not silver, because
+if it be silver it is worth the expense to separate it, and thereby
+destroy the coinage. Yet, although the existence of such metals as
+lead, bismuth, tin, antimony, and arsenic, as well as palladium and
+osmium-iridium is not illegal, it becomes necessary to separate them,
+because these metals affect the coin in various ways. Palladium and
+platinum alloy with the gold only after considerable time, therefore
+these metals may generally be seen in the finished coin, frequently as
+a slight bar across its surface, sometimes as spots on its crenated
+edge. Osmium-iridium causes trouble, inasmuch as it is so infusible,
+that it simply floats about in the melted gold, and several crystals
+agglomerate; where this takes place, the difficulty of manufacture is
+so great, that it is impossible to produce the desired amount of coin
+within the limits of remedy as to weight. The simplest means for the
+removal of these substances is to allow the fused metal to remain for a
+considerable time, when they settle to the bottom, and the clear metal
+can be poured off; the dregs, if so they may be called, are then sent
+to the refiner, but the process of separation is too long, and hardly
+adapted for a description in this place.
+
+As a practical matter, the other, or volatile metals, and lead, may be,
+and generally are, removed by means of corrosive sublimate. This is an
+expensive measure, and does not answer its intention, for some of the
+mercury combines with the gold and renders it brittle. In practice, the
+best process is that recommended by Mr. Warington, who proposed to add
+to gold found to contain tin, antimony, or arsenic, 10 per cent. of
+oxide of copper. The gold is fused in a Payen crucible, and the oxide
+of copper is then added and stirred into the gold by a rod made of the
+same substance as the crucible. This operation is easy of performance,
+because the infusible oxide of copper stirs up with the gold readily,
+and each particle of antimony, arsenic, or tin, as it comes into
+contact with the oxide of copper, reduces it to the metallic state,
+the volatile metals combining with the oxygen, while an equivalent of
+copper alloys itself with the gold. The impurities, as they oxidise,
+mix or combine with the oxide of copper. One or two experiments tell
+how much copper is thus added to the gold; consequently, how much fine
+gold is to be added to keep the alloy standard—and subsequent treatment
+by the oxide of copper simply removes the volatile metals. Gold treated
+by this process is perfectly workable on a large scale, and there is
+no trouble. A condition of success is, that no reducing agent, such
+as carbon, be present, and therefore plumbago pots cannot be used. In
+practice, half an hour is the best time to keep the metal in contact
+with the oxide of copper. The objection is frequently expressed, that
+to refine gold is not the business of the coiners. This opinion,
+however, will bear modification, for the expense of the oxide of copper
+is trifling as compared with the cost of labour in treating brittle
+gold.
+
+I now advert to a most important matter in relation to coining, viz.,
+that of the loss sustained, its cause, and prevention.
+
+It appears that the Royal Mint should sustain less loss than any other
+mint by the coining of gold and silver. If allowance be made for the
+sale of the sweep or dust[46] which results from a coinage, the total
+loss, inclusive of every operation in coining, should be so small that
+it might be passed without notice; in fact, there ought to be a minute
+increase of weight from traces of oil which are left on the fillets to
+enable them to pass through the cylinders of the draw-bench;[47] by
+melting[48] there seems to be too great a loss of metal: this should
+reach about £100 per million coined, and such loss would be wholly
+explained by the refining, which takes place through the removal of
+copper by oxidation; although this is minute, still it is enough to
+explain the loss which I indicate. If the assays be closely watched
+there can be no loss, for the trial of the pyx invariably shows the
+gold coin to err on the side of purity, so that if the Master of the
+Mint should determine to issue gold of exact standard, and refuse to
+avail himself of the latitude allowed, he may fairly cover every source
+of loss, and coin money WITHOUT WASTE OF METAL. Each grain that is
+found in excess of the standard upon the pound weight of gold causes
+a loss of about £180 upon each million coined. The moneyers asserted
+that they sustained a loss of £700 for each million coined, such loss
+being exclusive of melting. This has never been believed to have been
+a truthful statement, nor has the loss by coining alone often reached
+so high an amount, although so large a sum as £373 per million would
+seem to have been determined, by some careful experimenters, as the
+necessary loss. Where the gold went to was not stated; but supposing
+such a loss to accrue, it is manifest that either the gold volatilised
+or the floors must be paved to many inches in thickness with gold,
+but it is an established fact that matter once existent cannot be
+annihilated; yet it has required many arguments to convince those most
+interested in coining that the mere cutting up of bullion into small
+pieces does not alter its actual weight: the present Mint Authorities
+entertain the fallacious notion that large loss of gold is, for
+metallurgical reasons, NECESSARY. Notwithstanding Mr. Graham’s opinion
+that a loss of £206 on a million _was too high_,[49] they in their
+“Reports on European Mints” have arrived at the conclusion “that the
+‘waste’ shown to have existed of late years in the English Mint _has
+not been excessive_.”
+
+[Footnote 46: See pages 86-88, 140.]
+
+[Footnote 47: See pages 29, 32-33.]
+
+[Footnote 48: See pages 98-99.]
+
+[Footnote 49: See page 178.]
+
+To leave, then, the realms of speculation, and for a short time to
+examine figures, a matter which is little understood will be reduced
+to one of easy comprehension. Mr. W. T. Brande, in connection with
+others, carried on a series of experiments between 1851 and 1856, the
+results of which he gave me in writing, and which induced him to arrive
+at the conclusion that by coining alone there was a loss varying from
+1·20 grains on the pound, to 3·10 grains on the pound troy, or a mean
+of 2·15 grains on each pound troy coined. This loss was thought to be
+a necessary consequence of coining, and by a simple rule-of-three it
+tells as follows:—
+
+    A loss of 1·20 grains on the lb. = £208·33 on each £1,000,000.
+        ”     3·10   ”        ”      = £538·18      ”  £1,000,000.
+    Mean loss 2·15   ”        ”      = £373·26      ”  £1,000,000.
+
+Mr. Brande and his colleagues, by his own admission, did not know the
+value of the sweep recovered, therefore this loss was believed to be
+absolute. We will next examine the accounts and see the fruit of that
+belief, and then determine the effect of a contrary faith. And in the
+following statements, given in a tabular form, I would observe that
+the facts recorded were compiled by the Mint officials for the Master
+at my suggestion, and that copies were given to me by the late Master,
+who indeed invariably, when such statements were prepared, handed them
+to me to copy and examine for my own information, and to see that they
+were accurate.
+
+It is a fact that the Mint books do not record the loss upon the gold
+coined in November and December, 1851; or, if they do, these accounts
+have been only quite recently balanced. In the following statement I
+omit the coin of those two quarters, because the late Deputy Master
+assured me that the accounts were not made up. This, I am aware, lays
+me open to a correction; I therefore state that the coined money of
+these two months is not included in my calculations.
+
+STATEMENT SHOWING THE RATE OF COIN OBTAINED AND THE LOSS OF METAL
+INCURRED IN EACH QUARTER FROM MARCH, 1852, TO DECEMBER, 1857.
+
+     (A) = Proportional Loss of Metal on each Million Ounces Coined.
+    +------------------+---------------+-----------------+---------+
+    |                  |Total Amount of| Rate per Centum |         |
+    |Quarter ending:—  | Gold Coined   | of Coin obtained|   (A)   |
+    |                  | per Quarter.  | from Rough Bars.|         |
+    +------------------+---------------+-----------------+---------+
+    |                  |   Ounces.     |     Ounces.     | Ounces. |
+    |March 31st, 1852  |   300260·201  |                 |  446·94 |
+    |June 30th,   ”    |   501032·558  |                 |  399·17 |
+    |Sept. 30th,  ”    |   615753·337  |                 |  500·50 |
+    |Dec. 31st,   ”    |   828159·837  |       50·51     |  639·37 |
+    |March 31st, 1853  |  1113414·454  |       47·28     |  691·60 |
+    |June 30th,   ”    |  1223454·550  |       49·40     |  472·34 |
+    |Sept. 30th,  ”    |   248434·554  |       39·34     | 1130·64 |
+    |Dec. 31st,   ”    |   484331·447  |       42·81     |  784·42 |
+    |March 31st, 1854  |   769791·029  |       54·21     |  730·61 |
+    |June 30th,   ”    |   101611·604  |       49·65     |  787·21 |
+    |Dec. 31st,   ”    |   194968·684  |       47·76     |  583·07 |
+    |March 31st, 1855  |   515639·229  |       47·42     |  447·05 |
+    |June 30th,   ”    |   501708·378  |       47·01     |  456·20 |
+    |Sept. 30th,  ”    |   283944·316  |       43·53     |  420·18 |
+    |Dec. 31st,   ”    |  1012329·518  |       44·57     |  509·08 |
+    |March 31st, 1856  |   360409·244  |       38·39     |  489·05 |
+    |June 30th,   ”    |   818465·116  |       40·36     |  509·57 |
+    |Dec. 31st,   ”    |   362599·792  |       41·74     |  406·28 |
+    |March 31st, 1857  |    73638·878  |       39·64     |  233·84 |
+    |June 30th,   ”    |    19872·998  |       40·52     |   57·86 |
+    |Dec. 31st,   ”    |  1154606·290  |       54·69     |   18·45 |
+    +------------------+---------------+-----------------+---------+
+
+There will be occasion to refer to the next table for further
+information; but as the facts in this table are not strictly comparable
+with any others that will be given, it is better to explain this as
+it stands. Of the rate per centum of coin obtained from the bars
+there will be occasion to speak at a later period. These figures are
+placed here with a view to save repetition, which would be necessary
+when that subject is discussed.[50] Although the figures in the first
+column represent ounces, each item can at pleasure be converted into
+pounds sterling by multiplying it by £3·89375, which is the decimal
+expression for £3 17_s._ 10½_d._, the price per ounce of standard gold.
+In such case it will only be necessary to multiply the weight of the
+coinage by that value, and then to consider the loss of metal as pounds
+sterling—thus, 300,260·201 ozs. + £3·89375 = £1,171,318 5_s._ 3¼_d._,
+which sum lost weight by coining at the rate of £446 18_s._ 9½_d._
+per million coined. If calculation be made by addition and division
+of the figures in the third column, it will be observed that the
+average loss per million between March, 1852, and December, 1856, is
+£577·96,[51] and this was believed to be absolutely wasted in coining;
+but this amount may be fairly reduced by the deduction of £72 10_s._,
+the average value of sweep recovered, when it will remain £505·85. It
+will also be seen that the rate per million missing—for that is the
+fact—varied a good deal according to circumstances.
+
+[Footnote 50: See pages 107, 117.]
+
+[Footnote 51: See page 89.]
+
+It has been asserted that these losses were mere matters of account,
+and resulted from the removal of “fat or oil” in the various
+operations. These explanations shall be admitted to their fullest
+extent, but that they do not contain the cause for all the losses is
+to be gathered from the fact that gold has been returned to the Mint
+by the brickmaker, who found it in the ashes which he had bought. That
+there were cases of actual theft I am myself aware; for I, by the
+Master’s sanction, dismissed two men who were detected. Eleven others
+shared the same fate, but no prosecution was attempted or permitted,
+although strongly urged. As bearing on this point the following, in
+relation to “peculation,” is told and believed in the Mint:—In 1856,
+when the men had formed a strong opinion as to the honesty of one
+particular person, they took their own means to watch him, and to see
+how and when he abstracted the metal. A clear-headed man made it his
+business to do this duty. The suspected man was assisting the officer
+at the scales in the drag room, when the watcher saw him, after the
+bullion was weighed, take a piece stealthily and secrete it in the
+palm of his hand. The watcher, thinking to secure detection, requested
+the officer at the scales to re-weigh that draft; but this gentleman
+refused to comply. The watcher then told the officer what he had seen,
+and that if he would open the man’s hand the piece of gold was still in
+it, when the officer, addressing the suspected person, said, “Is it all
+right, John?” John replied “Yes,” and no more passed. On his road home
+“John” stumbled, and a piece of uncoined gold fell on the pavement.
+
+That metal was actually removed from the premises is beyond doubt, for
+a late officer picked up a piece of gold in the courtyard wrapped in
+brown paper, and the police brought to the Master a “flat end”[52] of
+gold, which had been offered for sale. The police inspected all the
+men in the Mint employ; but the person who abstracted the gold did not
+personally offer it for sale, and thereby escaped detection.
+
+On the 2nd of December, 1853, the cutting room book records a loss of
+87·26 ounces of gold, for which no satisfactory explanation is given.
+This book also contains some significant remarks by the officer who had
+charge of that department.
+
+The Mint books adopt the word “Wasteage” as explanatory of these
+losses, which were believed to be a necessary result of coining; so
+generally, indeed, was this firmly-implanted belief entertained, that
+at the bottom of each day’s account the word loss was printed, so that
+the officer had only to write the amount which was missing.
+
+If indeed proof that unnecessary wasteage[53] took place be required,
+it will be but necessary to quote from the letter of the Master of the
+Mint to the Treasury, dated 7th June, 1860. This letter was placed in
+my hands on the 1st June, 1860, by the Master, who desired me to copy
+such parts as related to loss and were of service to me, and that I
+might confirm the accuracy of his figures. He said, “It appears by the
+table that the average loss on the gold coinage of the first six years
+is £784 0_s._ 0¾_d._, and on the gold of the last three years £172
+8_s._ 11½_d._ per million coined, showing an improvement of £611 11_s._
+1¼_d._ per million coined. On the twelve millions of gold coined during
+the last three years the saving exceeds twelve thousand pounds.” The
+three years here referred to were contained in the period during which
+Mr. Graham entrusted me with the management of the coining department.
+
+[Footnote 52: See page 27.]
+
+[Footnote 53: See pages 99-106.]
+
+That the actual amount of loss by coining may be got at, it will be
+necessary to view the matter in a different form, and in that way to
+show the amount of money recovered by the sale of sweep; that is, by
+the sale of the ignited rubbish accumulated during a coinage, and
+in the statement given on page 90 the money value of each item is
+specifically represented. It need not be insisted that the utmost care
+should be exercised in preserving the sweep, when it is stated that
+this yields, at the end of a coinage, from 15 to 20 ounces of material
+bullion called _scrap or supply_, when picked over before sale, for
+only such as will pass through a fine sieve is sold; yet this sweep
+used to stand about in open, unlocked boxes from month’s end to month’s
+end.
+
+It would be wrong to state that there is no _apparent_ loss by coining
+gold. If, however, the whole circumstances be examined, it will be
+found that, after deducting every legitimate waste, an appreciable gain
+should be exhibited. In annealing sovereign blanks the loss is 54·12
+ounces on each million. This then would appear to be an absolute waste;
+but starting on the undisputed fact that “_matter cannot be lost_,” let
+us see what becomes of these 54·12 ounces apparently lost. 54·12 ounces
+contain 25,977·60 grains troy. Now, since careful analysis extending
+over more than thirty millions of gold annealed has determined that
+each million lost 5,708 grains of copper, and this copper is washed
+away as sulphate of copper, it may be admitted that so much is lost,
+thus leaving 20,169·60 grains unaccounted for. These 20,169·60 grains
+are just 42·02 ounces, and if proper care were bestowed I could show
+how every particle should be recovered at the end of the coinage.
+
+That there should be a gain is demonstrable from the fact that the gold
+as received into the coining department is quite clean; when wrought it
+becomes coated with oil, and this being returned on the scissel[54] to
+the melting-house is really charged as gold. In 1858 Mr. W. H. Barton,
+experimenting independently, arrived at the conclusion that there were
+200 ounces of oil on 765,370 ounces of gold scissel, while on the same
+scissel I, by careful experiments, determined that there were 118·39
+ounces of oil, the remainder being dust and other foreign matter.
+Further experiments, conducted by Mr. Barton for his own satisfaction,
+brought him to adopt my figures as accurate. This proportion would give
+154·55 ounces to each million ounces of scissel; but since good work
+returns only 35·80 per cent. of scissel on the rough bars, it becomes
+manifest that this same proportion is but 101·22 ounces in each million
+coined.
+
+[Footnote 54: See pages 35, 87.]
+
+Now the MONEYERS[55] used to make an allowance of 347 ounces to each
+million ounces of scissel, and with such sharp business-like people
+it is barely possible that they allowed too much. We may therefore
+assume that the scissel of the present day is much less covered with
+oil than it used to be; and this is indeed the truth, for whereas the
+trucks were wont to be actually spotted with oil which dropped from
+gold scissel, they are now unstained; and it may be mentioned that, to
+test the minute amount on the scissel, the Master has upon occasions
+wiped it with a white cambric handkerchief, by way of settling a
+disputed point, without perceptibly soiling the handkerchief. Admitting
+then a loss of 42·02 by annealing and blanching, we get, by deducting
+this from the gain by oil, an absolute gain of 59·20 ounces on each
+million ounces coined. In a little while, when examining the table, we
+shall see how this theory worked out in practice; for, to be perfect,
+it should be capable of demonstration. The question will naturally
+arise, If the oil be now so small in proportion, why should there not
+be an increased loss by melting? And here indeed arises a very nice
+point, but one which is proved to demonstration—that whereas large
+amounts of oil _cause_ loss, small quantities of oil PREVENT loss by
+melting, and for the following reason. Standard gold consists of copper
+2 parts, gold 22 parts. So soon as this gold approaches red heat it
+changes to a purple colour on its surface, owing to the oxidation of
+the copper. If, however, a trace of oil be present, the heat, while it
+warms the gold, volatilises the oil, and thus places the gold in an
+atmosphere free from oxygen, so that the standard gold remains metallic
+until it liquefies; hence the saving of loss, for any oxide of copper
+would be lost in the pot. This matter of the oil has been dwelt upon
+because it is a vexed question, and when the melter, by want of care,
+makes a large loss, he invariably, by a human weakness, attributes
+the loss to the oil on the scissel. It was on such an occasion that
+the assistant-melter produced the following amusing parody on the
+three witches of Shakespeare. The illustrative picture is clever, but
+unfitted for these pages.
+
+[Footnote 55: The moneyers were those contractors who conducted the
+coinages previously to the Mint being formed into a governmental
+department in 1851.—_Vide_ Parliamentary Reports, 1837, 1849, 1852.]
+
+    _First Witch_. Round about the journeys go,
+          In the dirt and rubbish throw;
+          Extraneous matters, small and great,
+          Everything to make the weight.
+
+    _Second Witch_. Stone swept up and pounded small,
+          Pieces of the stuccoed wall,
+          A bit of saffron-coloured brick,
+          Odds and ends of broken stick;
+          Here’s the sweeping of the floor,
+          Weighing full an ounce or more.
+
+    _All_. Hubble bubble, toil and bubble,
+          Give the melter every trouble.
+
+    _Third Witch_. Copper by annealing got,
+          Send largely to the melting-pot;
+          A pennyweight of leather strap,
+          A piece of old brown paper cap,
+          Some cotton fluff, ten grains of coal,
+          Then OIL to saturate the whole.
+
+    _All_. Hubble bubble, toil and bubble,
+          Give the melter every trouble.
+
+    MACBETH (_as Justice_). How now, ye secret, black,
+                                          and cunning rollers!
+          What is’t ye do?
+
+    _All_.         A deed without a name.
+
+    _24th November, 1862._                           J. G.
+
+Upon consulting the table—see p. 90—it will be found that, by deducting
+the value of the sweep recovered, from the value of the metal lost,
+between the periods November, 1851, and March, 1857, the actual loss
+was £19,930 18_s._ 0_d_., which sum, divided by the amount of gold
+coined in that period—viz., £40345185·450, gives £494 as a _bona fide_
+loss on each million pounds coined, when the belief was to the effect
+that there must be a loss. The great fact, _that matter once existent
+cannot be lost_, was never applied to the operations of minting until,
+in 1856, I demonstrated to the Master that the floors not being paved
+to many inches thick with gold, the bullion which was stated to be
+“wasted” in coining must have been _absolutely volatilised_, the
+proposition exposing me to more than ridicule at the time, and to
+positive hatred and misrepresentation thereafter; but when once the
+determination was formed to arrest what I saw clearly was unnecessary
+loss, it was carried out firmly, and in November, 1856, I commenced my
+determinations of the _necessary_ amount of loss in each operation, as
+well as a series of experiments to elucidate other points requiring
+reform and explanation.
+
+In furtherance of this firm resolve I assembled the men together, and
+informed them that I had now taken charge of the departments over which
+I had been placed, and that I should not permit any man to leave the
+Mint until the account was satisfied, and I had received from them the
+bullion to its uttermost part which I proposed to entrust to them.
+That I might effect this determination I weighed out to them, in their
+presence, a limited weight of gold, and then directed their foreman,
+on their behalf, to satisfy himself that the weight I charged was fair
+and honest; and then, with a firmness which surprised them, I followed
+this gold step by step, never for an instant permitting it to leave
+my sight, and at _each step in its passage from bullion to coined
+money_ I carefully weighed it, and made the foreman again check me,
+all the men being witnesses. At the end of the operations a FIXED GAIN
+exhibited itself. I was called upon for an explanation, which I gave,
+and each man was thus convinced that it was no use to attempt to cheat
+me, and was compelled to acknowledge that unless by abstraction there
+could be no loss. Many arguments followed for months, but LOSS became a
+matter of history so long as I was present,—not so in my absence, even
+at that time, as the books will show.
+
+Great firmness was required, but I persevered, and received not only
+thanks, but very valuable assistance from many of the men. With a
+view to keep the Master supplied with information as I gained it, I
+adopted a plan of reporting to him daily in writing the various changes
+which took place in the bullion under my care as regards differences
+of weighing, loss or gain, the amount per cent. of coin obtained, and
+other such details, and at the end of each coinage I summarised the
+whole of such facts into a tabular form, and thus rendered to him a
+complete history of the operations conducted. This proved of immense
+service, for upon the occurrence of an unusual event, attention was
+at once drawn to it, and means adopted to discover the cause, while
+at the same time a constant study of these reports could not fail to
+induce for myself a more minute inquiry into the various branches of
+my subject. I feel it cannot be unfitting to give, before proceeding
+further, one of these statements or reports relating to gold, and when
+I come to the discussion of silver I will, in its proper position,
+place such another table, because these seem to convey much practical
+information which will be useful to those engaged in coining.
+
+The report placed on page 92 is a copy of one I made to the Master, so
+I give it _in extenso_, and it will be found that by it bullion may be
+traced from its first admission to the coining department to its final
+issue as coined money, while each item of its history finds a place in
+the immediate department in which the bullion may be under operation.
+
+STATEMENT OF LOSSES INCURRED AND OF SWEEP RECOVERED. THIS REFERS WHOLLY
+TO GOLD IN THE COINING DEPARTMENT.
+
+    +--------------------------+-----------+-------------------+--------
+    |                          | Weight of |                   | Weight
+    |   Date—Financial Year.   |  Coinage. | Value of Coinage. |   of
+    |                          |           |                   |  Lost
+    |                          |           |                   | Metal.
+    +--------------------------+-----------+-------------------+--------
+    |                          | Ounces.   |       £  _s._ _d._| Ounces.
+    | Nov. 1851 to March 1852  | 351837·830| 1,369,968 11   0  | 134·206
+    |April 1852 to March 1853  |3058360·186|11,908,489 19   5½ |1851·888
+    |  ”   1853      ”   1854  |2726011·580|10,614,408 11   9¾ |1804·559
+    |  ”   1854      ”   1855  | 812219·517| 3,162,579 14  10½ | 424·092
+    |  ”   1855      ”   1856  |2158391·456| 8,404,236 14   7½ |1039·798
+    |  ”   1856      ”   1857  |1254703·786| 4,885,502 17   2  | 581·615
+    |  ”   1857      ”   1858  |1256586·572| 4,892,833 19   4  |  17·784
+    |  ”   1858      ”   1859  | 736150·582| 2,866,386  6   6¾ |  16·603
+    |  ”   1859      ”   1860  | 980070·679| 3,816,150  4   2  |  74·857
+    |  ”   1860      ”   1861  | 861205·000| 3,353,316 19   5  |
+    |  ”   1861      ”   1862  |1872214·638| 7,289,935 14  11  | 263·568
+    |  ”   1862      ”   1863  |2351444·336| 9,155,936  7   8  |  27·480
+    |  ”   1863      ”   1864  |1807332·130| 7,037,299  9   8  |  47·054
+    |  ”   1864      ”   1865  |1949438·200| 7,590,624 19  10  |  43·491
+    |  ”   1865      ”   1866  |1256347·104| 4,891,901 10   9  |  57·612
+    |  ”   1866      ”   1867  | 175838·208|   684,670  0   5  |   5·037
+    |  ”   1867      ”   1868  | 109580·129|   426,677 12   1¾ |   3·357
+    |June 1868 to Sept.  1868  | 280993·740| 1,094,119  7   6  | ⁂19·87|
+    +--------------------------+-----------+-------------------+--------
+    +--------------------------+-----------------+--------------
+    |                          |    Value of     |   Value of
+    |   Date--Financial Year.  |   Lost Metal.   |    Sweep.
+    |                          |                 |
+    |                          |                 |
+    +--------------------------+-----------------+--------------
+    |                          |    £  _s._ _d._ |  £   _s._ _d._
+    | Nov. 1851 to March 1852  |   522  11   3   |  89   1    3
+    |April 1852 to March 1853  | 7,210  15   9¼  | 716  11   11½
+    |  ”   1853      ”   1854  | 7,026  10   0¼  | 707   7    3½
+    |  ”   1854      ”   1855  | 1,651   6   1¾  | 222  14    3
+    |  ”   1855      ”   1856  | 4,148  14   3   | 635  4     1½
+    |  ”   1856      ”   1857  | 2,264  13   3   | 422  13   10
+    |  ”   1857      ”   1858  |    69   4  11   | 192  14   10
+    |  ”   1858      ”   1859  |    64  12  11½  | 209  16    7
+    |  ”   1859      ”   1860  |   291   9   6   | 254   4    9
+    |  ”   1860      ”   1861  |                 |
+    |  ”   1861      ”   1862  | 1,026   5   4   | 545  10    5½
+    |  ”   1862      ”   1863  |+  107   0   1   | 360   1   11
+    |  ”   1863      ”   1864  |+  183   4   4   | 459   0    1
+    |  ”   1864      ”   1865  |   169   6  10   | 295   9    3½
+    |  ”   1865      ”   1866  |   224   6   6   | 350   3    9
+    |  ”   1866      ”   1867  |    19  12   3   |      Nil.
+    |  ”   1867      ”   1868  |    13   1   5   |      Nil.
+    |June 1868 to Sept.  1868  |    77   7   7   |      Nil.
+    +--------------------------+-----------------+--------------
+    +--------------------------+---------------+--------------
+    |                          | Value of Lost |Value of Sweep
+    |   Date--Financial Year.  |   Metal per   | per Million
+    |                          |Million Coined.|   Coined.
+    |                          |               |
+    +--------------------------+---------------+--------------+
+    |                          |  £  _s._ _d._ | £  _s._ _d._
+    | Nov. 1851 to March 1852  |  381  8 10¼   |  65  0  2½
+    |April 1852 to March 1853  |  605 10  3¾   |  60  3  5¾
+    |  ”   1853      ”   1854  |  661 19  6½   |  66 12 10
+    |  ”   1854      ”   1855  |  522  2  1¾   |  70  8  5
+    |  ”   1855      ”   1856  |  481 14 10¾   |  75 11  7½
+    |  ”   1856      ”   1857  |  463 10 11¼   |  86 10  4¼
+    |  ”   1857      ”   1858  |⁂  14  3  0    |  39  7 10½
+    |  ”   1858      ”   1859  |⁂  22 11  0½   |  73  4  0½
+    |  ”   1859      ”   1860  |   76  7  7    |  66 12  5
+    |  ”   1860      ”   1861  |               |
+    |  ”   1861      ”   1862  |   96  8  6    |  51  5  1
+    |  ”   1862      ”   1863  |+  11  3  8    |  39  6  7
+    |  ”   1863      ”   1864  |+  26  0  8    |  65  4  5
+    |  ”   1864      ”   1865  |⁂  22  6  2    |  38 18  6
+    |  ”   1865      ”   1866  |⁂  45 17  1    |  71 11  8
+    |  ”   1866      ”   1867  |   28 12 10    |     Nil.
+    |  ”   1867      ”   1868  |   30 12  8¼   |     Nil.
+    |June 1868 to Sept.  1868  |   70 14  5¾   |     Nil.
+    +--------------------------+---------------+--------------+
+
+NOTES.—The sign + indicates that on those special coinages there was an
+actual gain by weight to the extent specified, which will be explained
+on page 98.
+
+The ⁂ is intended to draw the attention of the reader to these figures
+when a little later they are explained at pages 89, 93, 94, 95, 98.
+
+To obtain the true amount of loss, deduct the value of the sweep from
+the value of the gold lost.
+
+RETURN TO AN ORDER OF THE HOUSE OF LORDS DATED 17TH FEBRUARY, 1870. THE
+LORD ROSSIE. No. 1.
+
+FROM THE COINING DEPARTMENT OF THE ROYAL MINT.
+
+A STATEMENT of the Weight and Value of the Gold Moneys coined in each
+Financial Year from 1851 to 1869 inclusive, exhibiting the Weight and
+Value of the Loss or Waste sustained in each Year, as well as the Value
+of Sweep recovered, and the average Proportion of such Loss or Waste
+and Sweep recovered to each Million Pounds Sterling coined.
+
+    +----------------------------+-----------+----------------------+
+    |           Date.            | Weight of |   Value of Coinage.  |
+    |                            |  Coinage. |                      |
+    +----------------------------+-----------+----------------------+
+    |                            | Ounces.   |       £   _s._ _d._  |
+    |Nov.  1851 to March 1852.   | 351837·830| 1,369,968  11   0    |
+    |April 1852 to March 1853    |3058360·186|11,908,489  19   5    |
+    |  ”   1853     ”    1854    |2726011·580|10,614,407  11  10    |
+    |  ”   1854     ”    1855    | 812219·517| 3,162,579  14  10    |
+    |  ”   1855     ”    1856    |2158391·456| 8,404,236  14   7    |
+    |  ”   1856     ”    1857    |1254703·786| 4,885,502  17   4    |
+    |  ”   1857     ”    1858    |1256586·572| 4,892,833  19   4    |
+    |  ”   1858     ”    1859    | 736150·582| 2,866,386   6   7    |
+    |  ”   1859     ”    1860    | 980070·679| 3,816,150   4   2    |
+    |  ”   1860     ”    1861    | 861205·000| 3,353,316  19   5 }  |
+    |  ”   1861     ”    1862    |1872214·638| 7,289,935  14  11 }  |
+    |  ”   1862     ”    1863    |2351444·336| 9,155,936   7   8    |
+    |  ”   1863     ”    1864    |1807332·130| 7,037,299   9   8    |
+    |  ”   1864     ”    1865    |1949438·200| 7,590,624  19  10    |
+    |  ”   1865     ”    1866    |1256347·104| 4,891,901  10   9    |
+    |  ”   1866     ”    1867    | 175838·208|   684,670   0   5    |
+    |  ”   1867     ”    1868    | 127485·816|   496,397  17  11    |
+    |  ”   1868     ”    1869    |1270778·550| 4,948,093  19   7    |
+    +----------------------------+-----------+----------------------+
+    +----------------------------+---------+--------------+-------------
+    |           Date.            |Amount of|   Value of   |  Value of
+    |                            |  Waste. |    Waste.    |   Sweep
+    |                            |         |              | recovered.
+    +----------------------------+---------+--------------+-------------
+    |                            |  Ounces.|  £  _s._ _d._| £  _s._ _d._
+    |Nov.  1851 to March 1852.   |  134·206|  522 11   3  | 89   1   3
+    |April 1852 to March 1853    | 1851·888|7,210 15   9  |716  11  11½
+    |  ”   1853     ”    1854    | 1804·559|7,026 10   0  |707   7   3½
+    |  ”   1854     ”    1855    |  424·092|1,651  6   2  |222  14   3
+    |  ”   1855     ”    1856    | 1039·798|4,148 14   3  |635   4   1½
+    |  ”   1856     ”    1857    |  581·615|2,264 13   8  |422  13  10
+    |  ”   1857     ”    1858    |   17·784|   69  4  11  |192  14  11
+    |  ”   1858     ”    1859    |   16·603|   64 13   0  |209  16   7
+    |  ”   1859     ”    1860    |   74·857|  291  9   6  |254   4   9
+    |  ”   1860     ”    1861    |         |              |
+    |  ”   1861     ”    1862    |  263·568|1,026  5   4  |545  10   5½
+    |  ”   1862     ”    1863    |!+ 27·480|  107  0   1  |360   1  11
+    |  ”   1863     ”    1864    | + 47·054|  183  4   4  |459   0   1
+    |  ”   1864     ”    1865    |   43·491|  169  6  10  |295   9   3½
+    |  ”   1865     ”    1866    |   57·612|  224  6   6  |350  3   9
+    |  ”   1866     ”    1867    |    5·037|   19 12   3  |   Nil.
+    |  ”   1867     ”    1868    |    3·357|   13  1   5  |   Nil.
+    |  ”   1868     ”    1869    |   45·585|  177  9  11  |538   3   1
+    +----------------------------+---------+--------------+-------------
+
+    +----------------------------+-----------------+----------------+
+    |           Date.            | Value of Waste  | Value of Sweep |
+    |                            | per £1,000,000. | per £1,000,000.|
+    +----------------------------+-----------------+----------------+
+    |                            |   £   _s._ _d._ |  £   _s._ _d._ |
+    |Nov.  1851 to March 1852.   |  381   8   10   |  65   0    3   |
+    |April 1852 to March 1853    |  605  10    4   |  60   3    6   |
+    |  ”   1853     ”    1854    |  661  19    7   |  66  12   10   |
+    |  ”   1854     ”    1855    |  522   2    2   |  70   8    5   |
+    |  ”   1855     ”    1856    |  493  12   11   |  75  11    8   |
+    |  ”   1856     ”    1857    |  463  10   11   |  86  10    5   |
+    |  ”   1857     ”    1858    |   14   3    0   |  39   7   10   |
+    |  ”   1858     ”    1859    |   22  11    1   |  73   4    0   |
+    |  ”   1859     ”    1860    |   76   7    7   |  66  12    5   |
+    |  ”   1860     ”    1861    |                 |                |
+    |  ”   1861     ”    1862    |   96   8    6   |  51   5    1   |
+    |  ”   1862     ”    1863    |   11  13    8   |  39   6    7   |
+    |  ”   1863     ”    1864    |   26   0    8   |  65   4    5   |
+    |  ”   1864     ”    1865    |   22   6    2   |  38  18    6   |
+    |  ”   1865     ”    1866    |   45  17   1    |  71  11    8   |
+    |  ”   1866     ”    1867    |   28  12   10   |      Nil.      |
+    |  ”   1867     ”    1868    |   26   6    7   |      Nil.      |
+    |  ”   1868     ”    1869    |   35  17    5   | 108  15    2   |
+    +----------------------------+-----------------+----------------+
+
+    ! _Note._—The financial years 1862/1863 and 1863/1864 exhibit
+              a _gain_ in the Coining Department.
+                          C. W. FREMANTLE, DEPUTY-MASTER OF THE MINT.
+
+    ROYAL MINT, _2nd March, 1870_.
+
+STATEMENT OF WORK PERFORMED IN THE COINING DEPARTMENT FROM OCTOBER 2ND,
+1857, TO DECEMBER 17TH, 1857, INCLUSIVE.
+
+The Coinage was completed in 53 Days. The Value of the coined Gold was
+£4,495,748 4_s._ 10_d._
+
+    +----------------------------------------------------+
+    |                  IN ROLLING ROOM.                  |
+    +----------------------------------------------------+
+    |                     RECEIVED.                      |
+    +----------------------------------------------------+
+    |Weight of Gold Bars for Sovereigns                  |
+    |   by Mint Office Beam               2110962·00 ozs.|
+    |Weight of the same Bars                             |
+    |   by Rolling Room Beam              2110939·71  ”  |
+    |                                     ----------     |
+    |Showing a minus difference upon                     |
+    |   the Mint Office weight of              22·29  ”  |
+    |                                     ==========     |
+    +----------------------------------------------------+
+    |                     RETURNED.                      |
+    +-------------------+-----------------+--------------+
+    |                   |      As by      |    As by     |
+    |                   |     Rolling     |     Mint     |
+    |                   |      Room       |    Office    |
+    |                   |      Beam.      |    Beam.     |
+    +-------------------+-----------------+--------------+
+    |                   |     Ounces.     |   Ounces.    |
+    |Fillets            |    2016337·80   |              |
+    |Stopped Pots       |       1256·15   |    1256·15   |
+    |Brittle Bars       |      12142·36   |   12142·36   |
+    |Ends               |      81207·18   |   81208·24   |
+    +-------------------+-----------------+--------------+
+    |                   |    2110943·49   |   94606·75   |
+    |Deduct “received”  |    2110939·71   |  =========   |
+    +-------------------+-----------------+              |
+    |Increase during    |          3·78   |              |
+    |work.              |                 |              |
+    +-------------------+-----------------+--------------+
+    |       The Ends were 4·49 per cent. on Bars.        |
+    +----------------------------------------------------+
+
+    +----------------------------------------------------+
+    |                  IN CUTTING ROOM.                  |
+    +----------------------------------------------------+
+    |                     RECEIVED.                      |
+    +----------------------------------------------------+
+    |Gauged Fillets for Sovereigns                       |
+    |   by Rolling Room Beam              2016337·80 ozs.|
+    |Gauged Fillets for Sovereigns                       |
+    |   by Cutting Room Beam              2016331·10  ”  |
+    |                                     ----------     |
+    |Showing a minus difference                          |
+    |   upon the Rolling Room weight of         6·70  ”  |
+    +----------------------------------------------------+
+    |                     RETURNED.                      |
+    +----------------------+------------+----------------+
+    |                      |   As by    |     As by      |
+    |                      |  Cutting   |      Mint      |
+    |                      |    Room    |     Office     |
+    |                      |   Beam.    |     Beam.      |
+    +----------------------+------------+----------------+
+    |                      |  Ounces.   |   Ounces.      |
+    |Cut Blanks            | 1250996·04 |                |
+    |Scissel               |  755829·53 |    755830·74   |
+    |Dumb Fillets          |    9540·00 |      9540·00   |
+    +----------------------+------------+----------------+
+    |                      | 2016365·57 |    765370·74   |
+    |Deduct “received”     | 2016331·10 |                |
+    +----------------------+------------+                |
+    |Increase during       |      34·47 |                |
+    |work.                 |            |                |
+    +----------------------+------------+----------------+
+    |The Dumb Fillets were 0·45 p. c. on Bars.           |
+    |The Scissel was      35·80     ”      ”             |
+    +----------------------------------------------------+
+
+    +----------------------------------------------------+
+    |                 IN WEIGHING ROOM.                  |
+    +----------------------------------------------------+
+    |                     RECEIVED.                      |
+    +----------------------------------------------------+
+    |Cut Blanks for Sovereigns                           |
+    |   by Cutting Room Beam              1250996·04 ozs.|
+    |Cut Blanks for Sovereigns                           |
+    |   by Weighing Room Beam             1250989·11  ”  |
+    |                                     ----------     |
+    |Showing a minus difference                          |
+    |   upon the Cutting Room weight of         6·93  ”  |
+    +----------------------------------------------------+
+    |                     RETURNED.                      |
+    +----------------------+------------+----------------+
+    |                      |   As by    |     As by      |
+    |                      |  Weighing  |     Mint       |
+    |                      |    Room    |    Office      |
+    |                      |   Beam.    |     Beam.      |
+    +----------------------+------------+----------------+
+    |                      |  Ounces.   |   Ounces.      |
+    |Good Blanks           | 1163502·34 |                |
+    |Rejected Blanks       |   87488·31 |   87488·57     |
+    +----------------------+------------+----------------+
+    |                      | 1250990·65 |   87488·57     |
+    |Deduct “received”     | 1250989·11 |  =========     |
+    +----------------------+------------+                |
+    |Increase during       |       1·54 |                |
+    |work.                 |            |                |
+    +----------------------+------------+----------------+
+    |The Rejected was 4·14 per cent. on Bars.            |
+    |    ”    ”       6·99      ”       Blanks.          |
+    +----------------------+------------+----------------+
+
+    +----------------------------------------------------+
+    |          IN ANNEALING AND PRESS ROOMS.             |
+    +----------------------------------------------------+
+    |                     RECEIVED.                      |
+    +----------------------------------------------------+
+    |Good Blanks for Sovereigns                          |
+    |  by Weighing Room Beam              1163502·34 ozs.|
+    |Good Blanks for Sovereigns                          |
+    |  by Annealing Room Beam             1163487·44  ”  |
+    |                                     ----------     |
+    |Showing a minus difference upon                     |
+    |  the Weighing Room weight of             14·90  ”  |
+    +----------------------------------------------------+
+    |                     RETURNED.                      |
+    +----------------------+------------+----------------+
+    |                      |   As by    |     As by      |
+    |                      | Press Room |     Mint       |
+    |                      |   Beam.    |    Office      |
+    |                      |            |     Beam.      |
+    +----------------------+------------+----------------+
+    |                      |  Ounces.   |   Ounces.      |
+    |Coined Sovereigns     | 1154590·87 |   1154606·29   |
+    |Pyx Pieces            |    1903·92 |      1909·21   |
+    |Brockages             |    6926·03 |      6925·90   |
+    +----------------------+------------+----------------+
+    |One Sovereign         |            |                |
+    |  missing.            |        ·25 |                |
+    +----------------------+------------+----------------+
+    |Loss of Weight        |            |                |
+    |  by Annealing        |      57·05 |                |
+    |  and Blanching       |            |                |
+    +----------------------+------------+----------------+
+    |                      | 1163483·12 |   1163441·40   |
+    |                      |            |   ==========   |
+    |Deduct “returned”     | 1163487·44 |                |
+    +----------------------+------------+                |
+    |                      |            |                |
+    |Loss during work      |       4·32 |                |
+    +----------------------+------------+----------------+
+    |The Brockages were    0·33 on Bars.                 |
+    |The Coined Money was 54·79 on Rough Bars.           |
+    |  ”        ”         57·26 on Clean Bars.           |
+    +----------------------------------------------------+
+
+        Paid for Wages of Men
+             and Boys.
+     ------------------------------
+     Rolling Fillets, £252·402225
+     Cutting Blanks,  £260·624165
+     Annealing Do.    £145·437875
+     Coining Do.      £120·269875 = £778 14_s._ 8_d._
+                            for £4,495,748 4_s._ 10_d._ Coined Money.
+
+            Memorandum of
+     Coined Gold Moneys delivered
+          into Mint Office.
+     ----------------------------
+                       Ounces.
+     October          252030·274
+     November         594084·366
+     December         308491·650
+                    ------------
+                     1154606·290
+                    ============
+
+               4495748·2 : 778·7 :: 1000 : 0·173208 = 3_s._ 5½_d._
+                 4495748 : 36·64 :: 1000 : 1·955_d._
+     The Wages paid for Melting 2,110,962 were
+            £36·64 = 1·955_d._ on each 1,000 Sovereigns coined.
+                   = 0·001955 on each Sovereign coined.
+            1,000 Sovereigns cost 3_s._ 5½_d._ to coin
+                   = 0·04156992 of a Penny for each Coin.
+
+    _To the_ MASTER OF THE MINT.  GEORGE F. ANSELL, _January 20th, 1858_.
+
+Reference to the table at page 84 will demonstrate the fact that, by
+March, 1857, the average loss had fallen to £233·84, while in June
+of the same year it had been reduced to £57·86, finally reaching so
+low as £18·45 in December, 1857, the sums being in every way strictly
+comparable with all those of that table, because the value of the sweep
+is not taken into account in any case. As is usual in all discoveries,
+the merit was soon found to be worth claiming, but that the credit was
+due to me the Master himself admitted; and it is a fact that I was the
+only new officer, while all those who had been previously employed were
+still retained; and I feel that the Master confirmed his opinion when,
+in consequence of the reforms I had effected, he obliged all officers
+to follow such directions as I gave. In all cases where time would
+permit, I made it a rule to obtain the Master’s sanction before giving
+orders; but in cases of necessity I was empowered to act independently,
+and did so act, he confirming such orders as I gave. It should also
+be mentioned that so soon as I entered the Mint, Mr. Graham gave me
+positive instructions not to allow either of the then chief officers
+to interfere with the coining department. Nor would he permit a gold
+coinage to be conducted in my continued absence. If, however, the
+business of the Mint called me away, he, to induce the belief that I
+was in town and on the spot, would pay my expenses to and from London
+from his own pocket, and this he did on several occasions, because he
+found that “in my absence unnecessary loss re-appeared.” The opposition
+offered to the coining of bronze in the Royal Mint was so great, that
+the Master wished me to go to the mint of Messrs. Heaton and Sons
+at Birmingham, and there make such experiments as were necessary to
+confirm the opinions I had formed on that subject. This firm, with a
+generosity ever their own, permitted me to make, during a considerable
+period, and free of charge, such experiments for the Mint as I deemed
+necessary, rendering every possible assistance; but my investigations
+and agreeable visit were brought suddenly to a close by the following
+note from the Master:—
+
+                       “ROYAL MINT, _9th January, 1861_.
+
+    “MY DEAR SIR.
+
+    “Owing to renewed pressure for gold coin, we find it necessary to
+    begin rolling on Friday next. I am sorry to shorten your holiday,
+    but your presence is very desirable as soon as gold enters the
+    rolling room, and will relieve me of much anxiety.
+
+    “The pyx pence received from Mr. Gausby to-day appear to be of fair
+    quality. We should like to have a ton or two.
+                                         “Very truly yours,
+                                                 “THO. GRAHAM.
+         “G. F. ANSELL, ESQUIRE,
+    “At Messrs. Heaton & Sons, Birmingham.”
+
+To demonstrate, then, the correctness of the theorem I had proposed,
+it will be necessary to refer once more to the table on page 90, where
+it will be seen that these results exhibit themselves in the financial
+year April to March, 1857-58, when the loss in each million coined
+was £14 3_s._, and the sweep recovered in that year was sold at the
+rate of £39 7_s._ 10½_d._ for each million coined. If, therefore,
+the proportionate loss be deducted from the value of sweep sold, we
+have for the first[56] time in the experience of coiners a GAIN BY
+COINING to the extent of £25 4_s._ 10½_d._ on each million coined, thus
+approaching to the calculated gain of £59 4_s._, while in the next
+financial year it will be observed that there was a loss of £22 11_s._
+0½_d._, with a value of sweep recovered £73 4_s._ 0½_d._, giving an
+absolute gain of £50 13_s._,[56] practically the result calculated
+upon. To comprehend, then, the reason, why in the following years a
+loss is again permitted, it will be necessary to enter into matters
+of the inner life of the Mint. By the year 1859 the hatred excited
+against me in consequence of these exposures had culminated to the
+extreme. The Master, then desirous of finding a permanent position for
+his brother,[57] listened to and encouraged any stories against myself,
+notwithstanding the facts above related, and instead of consulting me
+and sending necessary orders through me, as usual, sent written orders
+openly by messengers, whose instructions were to read them to each
+officer. These styled by himself “circulating orders,” were intended to
+disgust all the officers who had assisted in the reforms, and it was
+apparently determined by these and other like means to bring back the
+management of the Mint into the former chaos of irregularities, that he
+might make his brother’s appointment appear necessary.
+
+[Footnote 56: See page 178.]
+
+[Footnote 57: Mr. John Graham, who had been engaged “gratuitously” for
+many months “to get his hand in,” was appointed, on the 23rd April,
+1861, to an extra clerkship, at £20 a month, as Inspector of Bronze
+Coins,—“as a warming-pan.”]
+
+The disrespect thus exhibited to myself, and to the officers generally,
+had to a certain extent its designed effect, for in 1859-60 the loss
+rose to £76 7_s._ 7_d._, the sweep selling for £66 12_s._ 5_d._,
+showing an absolute loss of £9 15_s._ 2_d._ It will now be necessary to
+refer to a statement of losses and gains upon each _quarter_, because
+the accounts were not officially balanced, the next statement being for
+the years April, 1860, to March, 1862,[58] but the quarterly account
+below[59] shows that the loss rose to 65·444 ounces, progressing
+rapidly in June, 1861, to 105·823 ounces, while in March, 1862, it had
+reached the ugly figure of 157·745 ounces. Before, however, this vast
+loss had been reached, the officers consulted together with a view to
+devise a means of arresting the downward course. About this time a
+piece of gold was discovered secreted in the drag room tunnel. I felt
+that this was a fact on which I could legitimately appeal to the Master
+against his new system, and this I did on the 31st December, 1861, when
+I represented to him that the reappearance of the losses was wholly
+due to his withdrawal of support from his officers, and that if he
+would not take the steps which were necessary, he alone must bear the
+blame, for I had now represented the truth to him. He asked my advice;
+so I told him boldly that he must come down officially to the works,
+as of old, and show himself a supporter of honest men. After much
+persuasion he assented to this advice, and came down. From that day the
+losses ceased, yet the effects, so far as the accounts are concerned,
+are exhibited till the quarter ending March, 1862; but the following
+quarter, ending June, 1862, exhibits a natural gain of 17·942 ounces.
+This table is of value, as showing the alternations of the apparent
+gain or loss; for in some quarters the loss appears to be greater than
+in others, arising from the fact that the bullion picked from the sweep
+is in some cases included; but this is always included in the return of
+the financial year.
+
+[Footnote 58: See page 90.]
+
+[Footnote 59: See page 95.]
+
+       STATEMENT SHOWING THE LOSSES AND GAINS UPON EACH QUARTER, FROM
+                      JUNE, 1856, TO SEPTEMBER, 1868.
+
+    +------------------+-----------------------+---------------------+
+    |                  |        GOLD.          |       SILVER.       |
+    |Quarter ending:—  +------------+----------+-----------+---------+
+    |                  |  Loss.     |  Gain.   |   Loss.   |  Gain.  |
+    +------------------+------------+----------+-----------+---------+
+    |                  |  Ounces.   | Ounces.  |  Ounces.  | Ounces. |
+    |June 30th, 1856   | 417·070    |          |           |         |
+    |Dec. 31st,  ”     | 147·325    |     —    |  268·460  |         |
+    |                  |      —     |     —    |    9·550  |         |
+    |March 31st, 1857  |  17·220    |     —    |  690·314  |         |
+    |June 30th,   ”    |      —     |     —    |   94·026  |         |
+    |Sept. 30th.  ”    |      —     |     —    |  315·903  |         |
+    |Dec. 31st,   ”    |  21·316    |          |           |         |
+    |March 30th, 1858  |      —     |    4·673 |  500·335  |         |
+    |Sept. 30th,  ”    |      —     |     —    |  315·114  |         |
+    |Dec. 31st,   ”    |      —     |     —    |  211·250  |         |
+    |March 31st, 1859  |  16·603    |     —    |  259·082  |         |
+    |June 30th,   ”    |   9·417    |     —    |  185·358  |         |
+    |Sept. 30th,  ”    |      —     |     —    |  240·890  |         |
+    |Dec. 31st,   ”    |      —     |     —    |  403·593  |         |
+    |March 31st, 1860  |  65·444[60]|     —    |   69·096  |         |
+    |Sept. 30th,  ”    |      —     |     —    |  427·238  |         |
+    |June 30th, 1861   | 105·823[61]|          |           |         |
+    |Dec. 31st,  ”     |      —     |     —    |  606·765  |         |
+    |March 31st, 1862  | 157·745[62]|     —    |       —   |   2·501 |
+    |June 30th,   ”    |      —     |[63]17·942|  170·965  |         |
+    |August 31st, ”    |   5·671    |          |           |         |
+    |Dec. 31st,   ”    |   5·584    |     —    |  132·984  |         |
+    |March 31st, 1863  |      —     |   20·793 |           |         |
+    |June 30th,   ”    |      —     |     —    |  458·672  |         |
+    |Dec. 31st,   ”    |  13·767    |          |           |         |
+    |March 31st, 1864  |      —     |   60·821 |   48·845  |         |
+    |June 30th,   ”    |      —     |   13·843 |    9·042  |         |
+    |Sept. 30th,  ”    |      —     |     —    |  783·347  |         |
+    |Dec. 31st,   ”    |  39·679    |          |           |         |
+    |March 31st, 1865  |  17·660    |     —    |  147·780  |         |
+    |June 30th,   ”    |      —     |     —    |  480·346  |         |
+    |August 31st, ”    |      —     |    1·020 |  195·546  |         |
+    |March 31st, 1866  |  58·632    |     —    |  230·515  |         |
+    |May 30th,    ”    |   5·037    |     —    |  136·014  |         |
+    |Sept. 30th,  ”    |      —     |     —    |  631·037  |         |
+    |March 31st, 1867  |      —     |     —    |  260·352  |         |
+    |June 30th,   ”    |   3·562    |     —    |  158·951  |         |
+    |August 31st, ”    |      —     |    0·205 |   43·033  |         |
+    |March 31st, 1868  |      —     |     —    |  271·540  |         |
+    |June 30th,   ”    |      —     |     —    |  222·545  |         |
+    |Sept. 30th,  ”    |  19·873    |     —    |   19·897  |         |
+    +------------------+------------+----------+-----------+---------+
+
+[Footnote 60: Specially referred to on page 94.]
+
+[Footnote 61: Specially referred to on page 94.]
+
+[Footnote 62: Specially referred to on page 94.]
+
+[Footnote 63: Specially referred to on page 94.]
+
+These are grave charges, but an inquiry could not fail to establish
+their truthfulness. To return, then, to the table at page 90, it will
+be observed that the loss of 1859-60 increased in the years 1860-62 to
+£45 3_s._ 5_d._; but the stimulus applied by the renewed support of
+the Master reproduced its legitimate results, and in 1862-63, instead
+of a loss of bullion, there was a gain of £11 3_s._ 8_d._, which, with
+the sweep, made £50 10_s._ 7_d._, and this increased in 1863-64 to £91
+5_s._ 1_d._
+
+        STATEMENT OF LOSSES INCURRED AND OF SWEEP RECOVERED.
+        THIS REFERS WHOLLY TO GOLD IN THE MELTING DEPARTMENT.
+
+    +---------------------------+-------------+---------------------+
+    |                           |  Weight of  |                     |
+    |   Date—Financial Year.    |  Coinage.   |  Value of Coinage.  |
+    |                           |             |                     |
+    +---------------------------+-------------+---------------------+
+    |                           |   Ounces.   |      £     _s._ _d._|
+    |Nov.  1851 to March 1852   |  351837·830 |  1,369,968  11   0  |
+    |April 1852 to March 1853   | 3058360·186 | 11,908,489  19   5½ |
+    |  ”   1853     ”    1854   | 2726011·580 | 10,614,407  11   9¾ |
+    |  ”   1854     ”    1855   |  812219·517 |  3,162,579  14  10½ |
+    |  ”   1855     ”    1856   | 2158391·456 |  8,404,236  14   7½ |
+    |  ”   1856     ”    1857   | 1254703·786 |  4,885,502  17   2  |
+    |  ”   1857     ”    1858   | 1256586·572 |  4,892,833  19   4  |
+    |  ”   1858     ”    1859   |  736150·582 |  2,866,386   6   6¾ |
+    |  ”   1859     ”    1860   |  980070·679 |  3,816,150   4   2  |
+    |  ”   1860     ”    1861   |  861205·000 |  3,353,316  19   5  |
+    |  ”   1861     ”    1862   | 1872214·638 |  7,289,935  14  11  |
+    |  ”   1862     ”    1863   | 2351444·336 |  9,155,936   7   8  |
+    |  ”   1863     ”    1864   | 1807332·130 |  7,037,299   9   8  |
+    |  ”   1864     ”    1865   | 1949438·200 |  7,590,624  19  10  |
+    |  ”   1865     ”    1866   | 1256347·104 |  4,891,901  10   9  |
+    |  ”   1866     ”    1867   |  175838·208 |    684,670   0   5  |
+    |  ”   1867     ”    1868   |  109580·129 |    426,677  12   1¾ |
+    +---------------------------+-------------+---------------------+
+    +---------------------------+---------+---------------+------------+
+    |                           |Weight of|   Value of    |  Value of  |
+    |   Date--Financial Year.   |  Lost   |  Lost Metal.  |   Sweep.   |
+    |                           | Metal.  |               |            |
+    +---------------------------+---------+---------------+------------+
+    |                           | Ounces. |   £  _s._ _d._| £ _s._ _d._|
+    |Nov.  1851 to March 1852   |  91·456 |  356  2    1½ |133  0   2  |
+    |April 1852 to March 1853   |1332·474 |5,188  6    4¾ |708 10   0  |
+    |  ”   1853     ”    1854   | 728·088 |2,834 19   10½ |709  9   8¼ |
+    |  ”   1854     ”    1855   | 223·811 |  871  9    3¼ |209  2   4¾ |
+    |  ”   1855     ”    1856   | 867·277 |3,376 19    2¼ |805  5   4¾ |
+    |  ”   1856     ”    1857   | 515·298 |2,006  8    9¾ |469  1   5¾ |
+    |  ”   1857     ”    1858   | 275·452 |1,072 10   10  |262 18   5¾ |
+    |  ”   1858     ”    1859   | 248·804 |  969 15    7¼ |231  2   1½ |
+    |  ”   1859     ”    1860   | 259·069 |1,008 15    0  |240 16   3  |
+    +---------------------------+---------+---------------+------------+
+    |  ”   1860     ”    1861   |         |               |            |
+    |  ”   1861     ”    1862   |  17·668 |3,183 15   11  |729 19  10½ |
+    +---------------------------+---------+---------------+------------+
+    |  ”   1862     ”    1863   | 636·395 |2,477 19    3  |590  2   7  |
+    |  ”   1863     ”    1864   | 629·815 |2,452  6   10  |507 11   0  |
+    |  ”   1864     ”    1865   | 464·080 |1,807  0    8  |509 10   0  |
+    |  ”   1865     ”    1866   | 585·622 |2,280  5    4  |535  5   0  |
+    |  ”   1866     ”    1867   |  37·440 |  145 15    8  |   Nil.     |
+    |  ”   1867     ”    1868   |    —    |     —         | 71 10   6  |
+    +---------------------------+---------+---------------+------------+
+    +---------------------------+----------------+---------------+
+    |                           |   Value of     |   Value of    |
+    |   Date—Financial Year.    |  Lost Metal    |    Sweep      |
+    |                           | per Million.   | per Million.  |
+    +---------------------------+----------------+---------------+
+    |                           |   £  _s._ _d._ |  £  _s._ _d._ |
+    |Nov.  1851 to March 1852   |  259 18    9½  |  97  1   9¼   |
+    |April 1852 to March 1853   |  435 13    7¾  |  59  9  10¾   |
+    |  ”   1853     ”    1854   |  267  1    9¼  |  66 16  10    |
+    |  ”   1854     ”    1855   |  275 11    1   |  66  2   5½   |
+    |  ”   1855     ”    1856   |  401 16    3¾  |  95 16   4    |
+    |  ”   1856     ”    1857   |  410 13   10¼  |  96  0   3¼   |
+    |  ”   1857     ”    1858   | ‡219  4    1¼  | ‡53 14   8½   |
+    |  ”   1858     ”    1859   | ‡337 19    7   | ‡80 12   6¼   |
+    |  ”   1859     ”    1860   |  264 16    8   |  63  2   0    |
+    +---------------------------+----------------+---------------+
+    |  ”   1860     ”    1861   |                |               |
+    |  ”   1861     ”    1862   |  297 10    1   |  68 11   9    |
+    +---------------------------+----------------+---------------+
+    |  ”   1862     ”    1863   |  270 12    9   |  64  9   0    |
+    |  ”   1863     ”    1864   |  348  9    6   |  72  2   5    |
+    |  ”   1864     ”    1865   |  238  1    2   |  67  2   5    |
+    |  ”   1865     ”    1866   |  466  2    6   | 109  8   2    |
+    |  ”   1866     ”    1867   |  212 18    6   |    Nil.       |
+    |  ”   1867     ”    1868   |       —        | 167 12   6¾   |
+    +---------------------------+----------------+---------------+
+
+      This mark (‡) is intended to attract the attention when at
+      pages 98, 103, these figures are discussed. To obtain the
+      true amount of loss, deduct the value of the sweep from the
+      value of the gold lost.
+
+RETURN TO AN ORDER OF THE HOUSE OF LORDS, DATED 17TH FEBRUARY, 1870.
+THE LORD ROSSIE. NO. 2.
+
+FROM THE MELTING DEPARTMENT OF THE ROYAL MINT.
+
+A STATEMENT of the Weight and Value of the Gold Moneys coined in each
+Financial Year from 1851 to 1869 inclusive, exhibiting the Weight and
+Value of the Loss or Waste sustained in each year, as well as the Value
+of Sweep recovered, and the average Proportion of such Loss or Waste
+and Sweep recovered to each Million Pounds Sterling coined.
+
+     +----------------------------+-------------+----------------------+
+     |             Date.          | Weight of   |   Value of Coinage.  |
+     |                            |  Coinage.   |                      |
+     +----------------------------+-------------+----------------------+
+     |                            |   Ounces.   |       £    _s._ _d._ |
+     | Nov.  1851 to March 1852   |  351837·830 |  1,369,968  11   0   |
+     | April 1852 to March 1853   | 3058360·186 | 11,908,489  19   5   |
+     |   ”   1853     ”    1854   | 2726011·580 | 10,614,407  11  10   |
+     |   ”   1854     ”    1855   |  812219·517 |  3,162,579  14  10   |
+     |   ”   1855     ”    1856   | 2158391·456 |  8,404,236  14   7   |
+     |   ”   1856     ”    1857   | 1254703·786 |  4,885,502  17   4   |
+     |   ”   1857     ”    1858   | 1256586·572 |  4,892,833  19   4   |
+     |   ”   1858     ”    1859   |  736150·582 |  2,866,386   6   7   |
+     |   ”   1859     ”    1860   |  980070·679 |  3,816,150   4   2   |
+     |   ”   1860     ”    1861   |  861205·000 |  3,353,316  19   5   |
+     |   ”   1861     ”    1862   | 1872214·638 |  7,289,935  14  11   |
+     |   ”   1862     ”    1863   | 2351444·336 |  9,155,936   7   8   |
+     |   ”   1863     ”    1864   | 1807332·130 |  7,037,299   9   8   |
+     |   ”   1864     ”    1865   | 1949438·200 |  7,590,624  19  10   |
+     |   ”   1865     ”    1866   | 1256347·104 |  4,891,901  10   9   |
+     |   ”   1866     ”    1867   |  175838·208 |    684,670   0   5   |
+     |   ”   1867     ”    1868   |  127485·816 |    496,397  17  11   |
+     |   ”   1868     ”    1869   | 1270778·550 |  4,948,093  19   7   |
+     +----------------------------+-------------+----------------------+
+    +----------------------------+--------+---------------+-------------+
+    |             Date.          | Amount |    Value of   | Value of    |
+    |                            |  of    |      Waste.   |  Sweep      |
+    |                            | Waste. |               | recovered.  |
+    +----------------------------+--------+---------------+-------------+
+    |                            | Ounces.|   £  _s._ _d._| £  _s._ _d._|
+    | Nov.  1851 to March 1852   |  91·456|  356  2    2  |133  0    2  |
+    | April 1852 to March 1853   |1332·474|5,188  6    5  |708 10    0  |
+    |   ”   1853     ”    1854   | 728·088|2,834 19   11  |709  9    8¼ |
+    |   ”   1854     ”    1855   | 223·811|  871  9    3  |209  2    4¾ |
+    |   ”   1855     ”    1856   | 867·277|3,376 19    2  |805  5    4¾ |
+    |   ”   1856     ”    1857   | 515·298|2,006  8   10  |469  1    1¾ |
+    |   ”   1857     ”    1858   | 275·452|1,072 10   10  |262 18    5¾ |
+    |   ”   1858     ”    1859   | 248·804|  968 15    7  |281  2    1½ |
+    |   ”   1859     ”    1860   | 259·069|1,008 15    0  |240 16    3  |
+    |   ”   1860     ”    1861 } |        |               |             |
+    |   ”   1861     ”    1862 } | 817·668|3,183 15   11  |729 19   10½ |
+    |   ”   1862     ”    1863   | 636·395|2,477 19    3  |590  2    7  |
+    |   ”   1863     ”    1864   | 629·815|2,452  6   10  |507 11    0  |
+    |   ”   1864     ”    1865   | 464·080|1,807  0    3  |509 10    0  |
+    |   ”   1865     ”    1866   | 585·622|2,280  5    4  |535  5    0  |
+    |   ”   1866     ”    1867   |  37·440|  145 15    8  |   Nil.      |
+    |   ”   1867     ”    1868   |  54·460|  212  1    0  | 71 10    6  |
+    |   ”   1868     ”    1869   | 701·084|2,729 16   11  |788  7    4  |
+    +----------------------------+--------+---------------+-------------+
+     +----------------------------+------------------+------------------+
+     |             Date.          |  Value of Waste  |  Value of Sweep  |
+     |                            |  per £1,000,000. |  per £1,000,000. |
+     +----------------------------+------------------+------------------+
+     |                            |  £   _s._ _d._   |   £  _s._ _d._   |
+     | Nov.  1851 to March 1852   |  259 18   10     |   97  1    9     |
+     | April 1852 to March 1853   |  435 13    8     |   59  9   11     |
+     |   ”   1853     ”    1854   |  267  1    9     |   66 16   10     |
+     |   ”   1854     ”    1855   |  275 11    1     |   66  2    6     |
+     |   ”   1855     ”    1856   |  401 16    4     |   95 16    4     |
+     |   ”   1856     ”    1857   |  410 13   10     |   96  0    3     |
+     |   ”   1857     ”    1858   |  219  4    1     |   53 14    8     |
+     |   ”   1858     ”    1859   |  337 19    7     |   80 12    6     |
+     |   ”   1859     ”    1860   |  264  6    8     |   63  2    0     |
+     |   ”   1860     ”    1861 } |                  |                  |
+     |   ”   1861     ”    1862 } |  297 10    1     |   68 11    9     |
+     |   ”   1862     ”    1863   |  270 12    9     |   64  9    0     |
+     |   ”   1863     ”    1864   |  348  9    6     |   72  2    5     |
+     |   ”   1864     ”    1865   |  238  1    2     |   67  2    5     |
+     |   ”   1865     ”    1866   |  466  2    6     |  109  8    2     |
+     |   ”   1866     ”    1867   |  212 18    6     |     Nil.         |
+     |   ”   1867     ”    1868   |  427  3    6     |  144  1    9     |
+     |   ”   1868     ”    1869   |  551 13    4     |  159  6    6     |
+     +----------------------------+------------------+------------------+
+                              C. W. FREMANTLE, DEPUTY-MASTER OF THE MINT.
+     ROYAL MINT, _2nd March_, 1870.
+
+
+In November, 1863, Mr. John Graham was appointed; but he did not
+interfere in the coining department until about March, 1864. The
+disastrous effects of his mismanagement now became apparent, and the
+losses have again made, it is to be feared, an habitual appearance.
+In the first year of his efforts, the loss per million[64] became £22
+6_s._ 2_d._, the sweep selling for £38 18_s._ 6_d._, giving a gain of
+£16 12_s._ 4_d._ only; in the next year, a gain of £25 14_s._ 7_d._;
+and it was now determined, notwithstanding a written protest, that
+the sweep and _scrap_ were not worth collecting, so they were lost.
+The next two years exhibit absolute losses of £28 12_s._ 10_d._ and
+£30 12_s._ 8½_d._ per million respectively, while in September, 1868,
+a loss of 19·873 ounces is recorded as a balance; yet it is a fact
+that no gold was ever produced to satisfy this balance, so that in my
+opinion it will be correct to state that the loss is at the rate of
+£70 14_s._ 5¾_d._ on each million coined. Unless upon the existence
+of such facts, it is difficult to understand why the Mint authorities
+should not publish annually an official statement of the loss or gain
+made by coining gold and silver, as well as the amount coined; but,
+that the whole details may be complete, it is now necessary to enter
+upon the discussion of the melting-house accounts. The table on p. 96
+exhibits the operations of that department upon the same gold as that
+just discussed. If, as in the case of the table relating to the coining
+department, the total loss between November, 1851, and March, 1857, be
+reduced by the value of the sweep sold, it will appear to be, on gold,
+£11,599·825, and this divided by £40,345,185·450, the total sum coined,
+will give an average loss of £280 7_s._ 8¾_d._ per million coined,
+when, as was admittedly the case, the gold scissel was saturated to
+dropping with oil.[64] Let us now see if this loss be increased by the
+reduction of the amount of oil which was formerly sent to the melter on
+the scissel.
+
+[Footnote 64: See page 90.]
+
+When in 1857-58 the loss by coining was put a stop to, and a gain was
+produced, it was roundly asserted that the melter’s account would show
+that the _loss_, so far from being stopped, had only been transferred
+from one department to another; but by examining the table now under
+discussion, it will be seen that when, in 1857-58,[65] the _gain_ of
+£25 4_s._ 10½_d._ occurred in the coining department, so far from
+there being a CORRESPONDING LOSS in the melting-house, that which had
+averaged £280 7_s._ 8¼_d._, fell to £165 9_s._ 4¾_d._,[65]—as will
+be seen by deducting the sweep sold from the loss recorded in the
+year 1857-58. When, in the next year, the gain by coining rose to £50
+13_s._, the melter’s loss did not reach its former average amount, for
+in that year, when he had as large an amount of brittle gold to contend
+with as in 1858, his loss was £257 7_s._ 0¾_d._,[66] or still below the
+old average; whereas, if from this period the loss be estimated, it
+will be found that its average is £212 6_s._ 1_d._ per million coined,
+as against £280 7_s._ 8¼_d._, or a clear saving of £68 1_s._ 7_d._
+effected by lessening the amount of oil on the scissel (explained at
+page 87); and this amount may fairly be added to the total sum saved
+per million coined, which will be for coining £494, for melting £68
+1_s._ 7_d._, making together £562 1_s._ 7_d._ on each million coined.
+That the loss by melting should reach the extravagant sum of £212
+per million coined—Mr. Mathison, the contractor under the Company of
+Moneyers, made an average loss of £112 only—can hardly be maintained
+even in the Royal Mint; that it does occur is indisputable. The cause
+for it is not far to seek; yet it is hardly within my scope in this
+place to point out the means by which it should be reduced to within
+the limit of £100, which is demonstrably the maximum limit it should be
+permitted to reach. This, then, is the state of affairs as regards loss
+by the coining of gold.
+
+[Footnote 65: See page 96.]
+
+[Footnote 66: See page 96.]
+
+Thus far I have considered the rate of loss at a period when such
+loss was deemed to be _necessary_; its reduction when it was
+demonstrated to be _unnecessary_, as resulting from preventible
+causes, and, in continuation, the means whereby _loss should be
+prevented to the establishment of the absolute profit_, if a correct
+system be established throughout the Mint. I now proceed to show
+the re-establishment of the old system of UNNECESSARY LOSS—loss
+which should not and would not be permitted in any well-regulated
+institution; but when men are permitted to travel at the expense of the
+country to European Mints, with the simple object of finding reasons
+why loss should arise, and authorities for its existence, we must hush
+our surprise, and be thankful if that loss do not exceed the amount
+heretofore reached. To me it appeared singular that the Mint Officials
+should be present in the House of Lords and hear Lord Lansdowne state
+from his place that “upon exact inquiry he had been assured that a
+loss of one shilling on £100 was not an unreasonable sum,” without
+subsequent protest against such a statement. It is more singular if
+one should compare that estimated loss with what those Officials state
+in their “Reports on European Mints;” but it is most singular, that by
+studying the returns made by those Officials to the House of Lords, it
+becomes apparent that throughout the whole affair there is exhibited
+a great disregard of the exact truth. To make clear my view of the
+case, I will adduce the three statements. Lord Lansdowne’s fixed sum
+of a shilling on £100, is equivalent to £500 on a million; while Mr.
+Fremantle, at page 7, “European Mints,” states that careful enquiry has
+shown, that as regards melting “in all Mints, considerable allowance is
+made for such loss, and that the ‘waste,’ shown to have existed of late
+years in the English Mint has not been excessive.” The return shows
+that between 1866-69 it averaged £296 per million.[67] Mr. Roberts
+says: “In the English Mint the amount of loss on gold by melting is
+considered to be 0·173 per mille, or a grain on the troy pound;” that
+is to say, £173 on a million. Why cannot these Authorities agree? Lord
+Lansdowne, of course, speaks on instructions received, probably from
+Mr. Fremantle, who thus exhibits his inability to agree with himself,
+and agreement with his fellow-traveller seems hopeless; for whereas Mr.
+Fremantle reduces Lord Lansdowne’s loss from £500 to £296, Mr. Roberts
+reduces the latter sum nearly 50 per cent., and states it at £173.
+
+[Footnote 67: See pages 97, 101.]
+
+I will now refer to the returns made to the order of the House of Lords
+on the motion of Lord Kinnaird, and which, for this purpose, I have
+printed on pages 91, 97, opposite the tables obtained from the same
+source whence these returns were made. By the return (see page 97) the
+Mint Authorities clearly admit that whereas the loss by melting was
+in 1866-67 only £212 18_s._ 6_d._, it became, in 1867-68, £283 1_s._
+9_d._, and increased to £392 6_s._ 10_d._ in the subsequent year, as
+will be seen if the value of the sweep be deducted from that of the
+waste. It appears to me that such startling facts require attentive
+enquiry, especially if it be borne in mind that the loss by melting
+as shown in the return was so little as £165 9_s._ 5_d._ in 1857-58.
+Since, however, it is now the custom in the Mint to pass the bars for
+coining, directly from the melting-house to the coining department—in
+accordance with the recommendation made by me in my Report to the
+Master of the Mint dated 29th of January, 1859—so as to bring the whole
+operation of coining under one responsible officer, as I therein urged,
+it is but right I should give the Mint the benefit of any advantage
+that can be obtained by a retrospective treatment of accounts, and
+therefore I will refer to the table on page 101 which shows the final
+result of operations conducted in the coining and melting departments.
+In cases where gain was made by coining I will deduct such gain from
+the loss by melting, and where loss by coining took place I will add it
+to that by melting. Thus treated then, the loss by melting and coining
+for 1866-67 becomes £241 11_s._ 4_d._, for 1867-68 £309 8_s._ 4_d._,
+and for 1868-69 £319 9_s._ 1_d._, or a steadily increasing amount, as
+will be seen subsequently on page 104.
+
+As regards loss on gold, enquiry would prove that a remarkable
+oblivion to all carefulness or the principles of economy exists in
+the minds of Mint Officials; for this noble metal, being one of the
+most dense as well as one of the most valuable, can be packed away
+into a small space; hence the utmost care, guided by knowledge of the
+subject, is necessary if waste is to be prevented. To start with that
+indisputable axiom, “matter cannot be lost,” is but to have the truth
+placed in unmistakable language; yet by the return[68] made to Lord
+Kinnaird’s motion a most startling contradiction to this truism is
+brought to light. The Mint Authorities, from the time of the government
+occupation of the Royal Mint, have manifestly _omitted_ to think that
+“matter cannot be lost,” and they have assumed that the mere fact of
+subdivision must entail loss; but this fallacy is at once dissipated
+if Lord Kinnaird’s idea be adopted. He, in his speech in the House of
+Lords, said: “If any of your lordships will place a thousand sovereigns
+in a box, and cause the box to be shaken until the sovereigns have
+reduced themselves to impalpable powder, and will then weigh the
+dust—gold-dust—produced, it will be found that the dust now weighs the
+exact weight of the sovereigns before shaking.” So apt an illustration
+would be spoiled by comment, yet we find that the return (see page
+102) exhibits the fact that the Mint has paid to the Bank of England
+sums varying from £1,132 to as low as £161 for each million of gold
+coined into sovereigns. Now the processes necessary to the conversion
+of gold into sovereigns is merely one of subdivision—of less degree
+than absolute powdering—therefore it is quite clear there can be no
+loss of gold. If there be any missing, it is because it is misplaced.
+Misplaced gold is practically lost, because Mint experiences appear to
+be adverse to the finding of the place of secretion. By this return it
+appears that the Mint has actually paid so large a total sum as £59,084
+1_s._ 4_d._, in seventeen years to the Bank of England for gold which
+should have been returned to that institution. The Government of Mr.
+Gladstone, professedly desiring to economise governmental expenditure,
+permits this!!!
+
+[Footnote 68: See page 102.]
+
+While it is the opinion of the Government that LOSS IS REASONABLE, it
+is hopeless to expect a stoppage of that which should not be permitted;
+yet it is right to state that these losses are not only demonstrably
+unnecessary, but that they have been proved by practice to be capable
+of great reduction, as shown by the following table, compiled from the
+returns before quoted on pages 91, 97.
+
+STATEMENT showing the ultimate Loss by Coining Gold, by Melting Gold,
+and the Gain by Coining Gold, as also the absolute Loss resulting from
+both operations, from 1851 to 1869. Compiled from the Returns for which
+_Lord Kinnaird_ moved.
+
+    AVERAGE RATE FOR EACH MILLION COINED.
+
+    +---------------+---------------------+--------------------+
+    |     Date.     | Ultimate _Loss_ by  | Ultimate _Gain_ by |
+    |Financial Year.| Coining £1,000,000  | Coining £1,000,000 |
+    |               |        Gold.        |        Gold.       |
+    +---------------+---------------------+--------------------+
+    |               |       £   _s._ _d._ |      £  _s._ _d._  |
+    |1851-1852      |      315   8    7   |                    |
+    |1852-1853      |      545   6   10   |                    |
+    |1853-1854      |      595   6    9   |                    |
+    |1854-1855      |      451  13    9   |                    |
+    |1855-1856      |      418   1    3   |                    |
+    |1856-1857      |      377   0    6   |                    |
+    |1857-1858      |                     |      25   4  10    |
+    |1858-1859      |                     |      50  12  11    |
+    |1859-1860      |       9   15    2   |                    |
+    |1860-1862      |      45    3    5   |                    |
+    |1862-1863      |                     |      51   0   3    |
+    |1863-1864      |                     |      91   5   1    |
+    |1864-1865      |                     |      16  12   4    |
+    |1865-1866      |                     |      25  14   7    |
+    |1866-1867      |      28   12   10   |                    |
+    |1867-1868      |      26    6    7   |                    |
+    |1868-1869      |                     |      72  17   9    |
+    +---------------+---------------------+--------------------+
+    |     Date.     | Ultimate _Loss_ by  | Ultimate _Loss_ by |
+    |Financial Year.| Melting Ingots, &c. |  both Operations.  |
+    |               | for £1,000,000 Gold.|                    |
+    +---------------+---------------------+--------------------+
+    |               |       £  _s._ _d._  |      £   _s._ _d._ |
+    |1851-1852      |      162  17   1    |     478   5    8   |
+    |1852-1853      |      376   3   9    |     921  10    7   |
+    |1853-1854      |      200   4  11    |     795  11    8   |
+    |1854-1855      |      209   8   7    |     661   2    4   |
+    |1855-1856      |      306   0   0    |     724   1    3   |
+    |1856-1857      |      314  13   7    |     691  14    1   |
+    |1857-1858      |      165   9   5    |     140   4    7   |
+    |1858-1859      |      257   7   1    |     206  14    2   |
+    |1859-1860      |      201   4   8    |     210  19   10   |
+    |1860-1862      |      228  18   4    |     274   1    9   |
+    |1862-1863      |      206   3   9    |     155   3    6   |
+    |1863-1864      |      276   7   1    |     185   2    0   |
+    |1864-1865      |      170  18   9    |     164   6    5   |
+    |1865-1866      |      356  14   4    |     330  19    9   |
+    |1866-1867      |      212  18   6    |     241  11    4   |
+    |1867-1868      |      283   1   9    |     309   8    4   |
+    |1868-1869      |      392   6  10    |     319   9    1   |
+    +---------------+---------------------+--------------------+
+
+RETURN FROM THE ROYAL MINT TO AN ORDER OF THE HOUSE OF LORDS, DATED
+17TH FEBRUARY, 1870. THE LORD ROSSIE.
+
+A Statement showing the individual sums paid by cheque by the Master of
+the Mint to the Bank of England in consideration of any loss or waste
+by coining gold, by melting gold, and by assaying gold on each occasion
+of a balance of accounts by those institutions between 1851 and 1869
+inclusive, specifying the proportional payments in relation to each
+million coined during the several periods.
+
+    -----------------+-----------------------+--------------+-----------
+     Date of Payment.|  Period during which  |  Amount of   |  Rate of
+                     |     Waste occurred.   |   Cheque.    | Waste per
+                     |                       |              |  Million.
+    -----------------+-----------------------+--------------+-----------
+                     |                       |   £   _s. d._|  £   _s. d._
+    1852, March 31st |From 11th July 1851 to |   890  1  5  |  649  0  0
+                     | 31st March 1852       |              |
+    -----------------+-----------------------+--------------+-----------
+      ”   August 26th|From 1st April to 30th | 1,926 10  5  |  951  0  0
+                     |  June 1852            |              |
+    -----------------+-----------------------+--------------+-----------
+      ”  December 6th|From 1st July to 30th  | 2,051 16  9  |  882  0  0
+                     |  September 1852       |              |
+    -----------------+-----------------------+--------------+-----------
+    1853, June 17th  |From 1st October to    | 3,209  8  2  |  995  0  0
+                     |  31st December 1852   |              |
+    -----------------+-----------------------+--------------+-----------
+      ”   July 8th   |From 1st January to    | 5,270  1  3  |1,132  0  0
+                     |  31st March 1853      |              |
+    -----------------+-----------------------+--------------+-----------
+      ”  September   |From 1st April to 30th | 4,564  0  0  |1,026  0  0
+            30th     |  June 1853            |              |
+    -----------------+-----------------------+--------------+-----------
+      ”   December   |From 1st July to 30th  | 1,147  5  2  |1,112  0  0
+            30th     |  September 1853       |              |
+    -----------------+-----------------------+--------------+-----------
+    1854, August     |From 1st October 1853  | 4,583  0  0  |  878  0  0
+            30th     | to 30th June 1854     |              |
+    -----------------+-----------------------+--------------+-----------
+    1856, May 2nd    |From 1st July 1854 to  | 8,685 14  3  |  895  0  0
+                     |  31st December 1855   |              |
+    -----------------+-----------------------+--------------+-----------
+    1857, June 12th  |From 1st January 1856  | 5,265  6  0  |  803  0  0
+                     |  to 30th May 1857     |              |
+    -----------------+-----------------------+--------------+-----------
+    1858, May 5th    |From 1st June 1857 to  | 1,110 14  7  |  230  0  0
+                     |  31st March 1858      |              |
+    -----------------+-----------------------+--------------+-----------
+    1860, March 12th |From 1st April 1858 to | 1,282 16  7  |  360  0  0
+                     |  30th June 1859       |              |
+    -----------------+-----------------------+--------------+-----------
+      ”   June 27th  |From 1st July 1859 to  | 1,084  6  3  |  347  0  0
+                     |  31st March 1860      |              |
+    -----------------+-----------------------+--------------+-----------
+    1862, August 29th|From 1st April 1860 to | 4,272 11  7  |  389  0  0
+                     |  31st August 1862     |              |
+    -----------------+-----------------------+--------------+-----------
+    1863, March 30th |From 1st September 1862| 1,766 14  8  |  350  0  0
+                     | to 31st December 1862 |              |
+    -----------------+-----------------------+--------------+-----------
+      ”   June 3rd   |From 1st January to    |   606 19  4  |  161  0  0
+                     |  31st March 1863      |              |
+    -----------------+-----------------------+--------------+-----------
+    1864, September  |From 1st April 1863 to | 2,584 11 11  |  281  0  0
+            6th      |  31st July 1864       |              |
+    -----------------+-----------------------+--------------+-----------
+    1865, March 29th |From 1st August 1864 to| 1,320 16  9  |  419  0  0
+                     |  31st December 1864   |              |
+    -----------------+-----------------------+--------------+-----------
+      ”   October    |From 1st January to    |   438  6  3  |  169  0  0
+            19th     |  30th September 1865  |              |
+    -----------------+-----------------------+--------------+-----------
+    1866, July 4th   |From 1st October 1865  | 2,633 13  2  |  485  0  0
+                     |  to 30th June 1866    |              |
+    -----------------+-----------------------+--------------+-----------
+    1867, December   |From 1st July 1866 to  |   227  5 10  |  457  0  0
+             12th    |  30th November 1867   |              |
+    -----------------+-----------------------+--------------+-----------
+    1869, November   |From 1st December 1867 | 4,162  1  0  |  461  0  0
+           30th[69]   | to 30th November 1869 |              |
+                     |                       +--------------+
+                     |                      £ 59,084  1  4  |
+    -----------------+--------------------------------------+-----------
+                     C. W. FREMANTLE, DEPUTY-MASTER AND COMPTROLLER.
+     ROYAL MINT, _2nd March, 1870_.
+
+[Footnote 69: A coinage having been in progress on the 31st of March,
+1869, no waste account was made up at the close of the financial year
+1868-69.]
+
+In this table (page 101) care has been taken to remove every item
+which can mislead, and therefore the ultimate or absolute loss to the
+Mint is alone put forward; and while the subsequent table (page 102)
+shows the money and its rate per million actually paid to the Bank for
+loss; this shows the internal accounts of the operative departments in
+the Mint only, so that every item which can reduce the loss has been
+admitted, and it is therefore necessary to point out that each sum
+exhibited in the last column as the ultimate loss by both operations,
+is the rate for each million coined, all being under precisely similar
+circumstances in every respect. I have excluded loss by assay.
+
+If this table (page 101) be examined, it will be seen that between 1851
+and 1857 there was an invariable statement of loss by coining; then
+between 1857 and 1859 a period of gain; to be followed in the next two
+periods, 1859 to 1862, by loss, which was again overcome; and for the
+next four years a varying gain, alternated by two years of loss, and
+followed finally by another statement of gain.
+
+Enquiry may fairly be made why, if up to 1857 loss had been permitted,
+gain could subsequently be established. The reply is, that the
+management of the coining department was placed under myself by Mr.
+Graham, and I acted firmly on my belief that “matter cannot be lost;”
+hence, if the accounts were short, I made the men hunt the floors—not
+the chimneys—carefully until the gold was found.
+
+The Master of the Mint then discouraged my efforts, and the result
+was rapidly increasing loss, until I placed on the Master[70] the
+responsibility of such loss, when there returned four years of gain,
+thus once more proving that under proper management loss would not
+occur; but from this period I was removed from responsible management,
+and the result was a return to the habitual loss. This would appear to
+have been overcome in the year 1868-1869, for in that year a gain to
+the extent of £72 17_s._ 9_d._ (see Return, page 91) is exhibited. It
+will be necessary to examine this gain to see how far it is real, and
+the proof is at hand that it is obtained under false pretences.
+
+For special reasons which are not exhibited,[71] the figures relating
+to 1851-1852 on the table at page 96 are fictitious; the fact being
+that losses which should have been stated are excluded. If, however,
+the table from 1852 to 1869 be examined it will be observed that the
+ultimate loss by melting varies considerably, but that in the year
+1857-1858 it fell to £165 9_s._ 5_d._, while in that year a gain was
+made by coining to the extent of £25 4_s._ 10_d._[72] This gain being
+deducted from the loss by melting, leaves a final loss of £140 4_s._
+7_d._, as will be seen in the last column at page 101. To test then
+the gain shown in 1868-69 by the same rule, it will be observed that
+while the coining department (see page 101) made a profit of £72
+17_s._ 9_d._,[73] the loss by melting was £392 6_s._ 10_d._, or higher
+in amount than it has been in _any previous year_, so that the gain
+claimed for coining is _false_—it has not arisen—it is a STATEMENT OF
+ACCOUNTS, obtained by sending inaccurate weights of bullion to the
+melter, and thus shifting to that department the loss which fairly
+belonged to the coiner. The same remark applies to the year 1865-1866,
+when it will be seen that the system of loss fairly reset in.
+
+[Footnote 70: See page 94.]
+
+[Footnote 71: See page 83.]
+
+[Footnote 72: See page 90.]
+
+[Footnote 73: See also page 91.]
+
+BONA FIDE GAIN BY COINING GOLD IN ITS FINAL OUT-TURN is only to be
+obtained by the possession of a firm belief in the impossibility
+of legitimate loss, and by entrusting the operations of coining to
+such men as appreciate the fact that it is atoms which build up the
+universe. I proved, and maintained my assertion for years, that there
+should be no loss, but on the other hand gain, by coining gold, and
+this I did with a reduction in the loss by melting to a lower point
+than has ever before or since been known, and with a total loss from
+both causes of only £140 4_s._ 7_d._ (see pages 101-102); and, had
+occasion served, it was always intended that I should direct the
+melting of gold as I had done that of silver,[74] for as I had clearly
+shown that coining could be fairly conducted without loss, the Master
+was to have given me an opportunity to show the same facts in melting.
+
+Of this loss of £140 4_s._ 7_d._ in the final out-turn of gold, it
+should be explained that at that date the system of weighing to and
+from the bank was such that there was on that coinage a difference of
+weighing _against the Mint_ of £75 on each million, so that had just
+weighments been made, my loss from all causes being reduced by that
+amount would have been £65 4_s._ 7_d._ on each million coined.
+
+With such facts established and stated in the return to the House of
+Lords, it is at least singular that Lord Lansdowne should support his
+assertion that 1_s._ on £100 is a moderate and fair loss, by stating
+that this is also the opinion of eminent refiners in London. In my
+experience refiners do not know what their losses are, for their
+customers bear them. By special agreement with Sir A. Rothschild, the
+Mint pays 4_d._ per ounce on the total sent for refining, and receives
+back all the gold and silver; but the general public, by previous
+agreement, submit to a deduction of weight, and thus pay the expenses
+of refining. Mr. Graham, in his paper published after his brother’s
+failure to conduct the gold coinage as I had done, fixed the loss at
+£300 on a million. Lord Lansdowne now fixes it at 1_s._ on £100; that
+is, at the rate of £500 on a million; and this sum is being rapidly
+approached, for Lord Kinnaird’s return shows that for the past three
+years it has averaged £464.[75] And since such a loss is to be borne
+and pleasantly spoken of by _Mr. Lowe_, the Master of the Mint, as
+“going up the chimney,” it is well to see if that can take place.
+
+[Footnote 74: See page 136.]
+
+[Footnote 75: See page 102.]
+
+The volatilization of gold and silver requires an extremely high
+temperature. This temperature is never reached in melting the precious
+metals for coinage; therefore vapour of gold or of silver cannot by
+any possibility be conveyed into the chimney; consequently, cannot
+be found there. That this statement is true, has been demonstrated
+satisfactorily in Brussels, where the chimneys were discreetly
+searched to find the silver which the contractors were informed would
+be found: the chief contractor assured me that they failed to find
+the most minute trace of either silver or gold. Yet Mr. Roberts,
+at page 23, “European Mints,” says, “The precious metals actually
+volatilized may be arrested by condensation. This point has received
+much attention in the Roman Mint, where the flues of the gold melting
+furnaces have been placed in communication with condensing chambers
+of simple construction, the adoption of which has been attended with
+very satisfactory results.” On page 17 he has already said “I strongly
+recommend that a condensing chamber be attached to the flues of the
+gold melting furnaces. Such chambers have not hitherto been used in
+the Mint in this country, but their advantage has been proved in the
+Roman Mint, where they have been the means of effecting a considerable
+saving.”
+
+It is with regret that one sees men entrusted with the control of so
+great a work as our coinage, making propositions on the authority of
+the Roman Mint, whose gold coinage is perhaps the smallest in Europe.
+If, however, Mr. Roberts should conduct on a large scale the plan _he
+has devised_ for removing the obnoxious properties from brittle gold,
+these chambers may become useful. In the meantime the present Mint
+chimneys have the accumulations of more than sixty years, and it would
+be quite worth while to pull them down and obtain the £59,000[76] which
+the Mint admits to have lost (see page 101). Are the chimneys lined
+with finely-divided gold, or does that metal accumulate in ingots?
+if the latter be the case, their draught must be slightly impeded,
+for fifty-nine thousand pounds worth of gold would more than fill an
+imperial bushel; in the popular view a “thousand sovereigns fill a
+quart measure.” If Mr. Roberts should fail to find any trace of gold,
+he can re-consider his proposition; should he, however, find the sum
+which has been supposed to be lost, that treasure will pay the cost of
+new chimneys.
+
+[Footnote 76: See page 102.]
+
+If, instead of Lord Lansdowne appealing to Lord Kinnaird’s generosity
+to leave unsaid things which should be said, his Lordship would
+refute the facts and figures which Lord Kinnaird places before their
+Lordships’ House, it seems probable that the question would be
+settled; but while Lord Lansdowne simply pleads that “the person who
+supplies information to Lord Kinnaird is only a dismissed clerk,”
+it becomes manifest that the facts placed before Lord Kinnaird are
+awkward to contradict, and still more awkward to explain, except by
+the painful delusion Lord Lansdowne adopts—that “his lordship confuses
+the accounts.” It may fairly be admitted that the accounts furnished
+by the Mint Authorities to the House of Commons are stated in such a
+manner that bankers and merchants find it impossible to comprehend
+them, and to arrive at their meaning, more than one banker in London
+_has applied to me_ to unravel those statements which have been
+characterised as “such that if our younger clerk were to present them
+he would be dismissed our service.” Still, that Lord Kinnaird has not
+fallen into this error has, it is hoped, been now made fully manifest.
+Lord Lansdowne, in continuation, stated that “the author of this book
+appears to have left unnoticed the losing operations in the Mint, and
+Lord Kinnaird seems to have fallen into the trap.” Had Lord Lansdowne
+looked into the book he thus criticized, he would have found that
+each process of gain and loss is treated at considerable length, but
+none with more detail than the processes of the melting both for gold
+and silver, as he will learn if he will refer to the book, now out of
+print, but a copy of which is in the Mint Library—for gold melting,
+at pages 69, 74, 81, 82, 83; and for silver melting, at pages 101,
+104, 109, 111, where it will be clearly seen that these losses are
+dwelt upon and shown to be inexcusable. The returns upon which I have
+thus commented are also of importance as introducing a new system in
+accounts—that of altering such accounts without reason assigned or
+explanation given. If the return on page 91 be examined for the year
+April 1867 to March 1868, it will be seen that a variation exists
+between it and my table on page 90; for whereas I state the value
+of the coinage for that year at £426,677 12_s._ 1¾_d._ and the loss
+at 3·357 ounces, or at the rate of £30 12_s._ 8¼_d._ on the million
+coined, the return states the money coined at £496,397 17_s._ 11_d._;
+and leaving unaltered the _amount of loss_, shows it to be at the rate
+of £26 6_s._ 7_d._ per million coined, a similar alteration has been
+made in the account of the melting department. Seeing that my figures
+were those supplied by the then Deputy Master to the late Master of
+the Mint, I cannot comprehend why those accounts should be issued by
+Mr. Fremantle, who has entered the Mint since that gentleman’s death,
+with a variation in the figures, but I shall presently show that such a
+proceeding is not confined to this one transaction.
+
+While the subject of accounts is under notice, I think it right to
+observe upon a passage in Mr. Fremantle’s “Report on European Mints,”
+at page 7, in which that gentleman says—
+
+    “I propose, also, that the ‘sweep,’ under which term are
+    comprised dust collected from the floors, carbonaceous
+    deposits from flues, ground-up crucibles, &c., should be
+    treated in the Mint, instead of being sold, as at present,
+    to the highest bidder. It will be important to determine
+    what metallurgical process should be adopted with a view
+    of carrying this intention into effect; but the step
+    cannot fail to be advantageous to the Mint, not only as
+    tending to economy, but also more especially as enabling
+    the _department to substitute a real for a fictitious
+    statement of ‘waste,’ the regulations of the public
+    service_ NOT ALLOWING THE PROCEEDS OF THE ‘SWEEP’,
+    _when sold to the public, to be brought to account_
+    AS A SET-OFF AGAINST THE GROSS AMOUNT OF LOSS.”
+
+that while I quite appreciate his thus carrying out the suggestion I
+never ceased to urge, I do object to his stating that which is hardly
+true as indicated by the passages I have marked. Such a statement must
+have been a slip of the pen, as it is but necessary to refer to the
+returns made to the House of Lords[77] to exhibit the fact that these
+accounts are now kept and actually published to Parliament, and in my
+own knowledge, those returns are accurate—not false—for I saw much of
+the money paid for the sweep, which I delivered to the purchasers on
+the authority of Mr. Barton. There is no sense in which these returns
+can be said to be false unless in the one year I have pointed out. If
+they be false, is it not a serious matter for any one to sign his name
+and submit them as accurate to Parliament?
+
+Let us, then, turn to the accounts, and see how far the other expenses
+are unnecessarily inflated—and why? In such a consideration it will be
+necessary to revert, as in the case of losses, to the earlier periods
+of the Government occupation of the Mint; and, without going too far
+into details, it may be stated that the average amount of _rejected
+work_ (see page 44) reached, in some instances, 70 per cent.; but if
+the averages for sovereigns be taken as extending over long periods, a
+good general knowledge may be gained, thus:—
+
+In 1855, between June 6th and August 13th, the highest was 40·51 per
+cent., the lowest 13·13 per cent., the mean of 41 days giving 21·49 per
+cent.; while, at that period, the coined money was 43·53 per cent. on
+the clean bars.
+
+In 1856, from January 2nd to January 22nd inclusive (18 working days),
+the highest was 21·48 per cent., the lowest 12·72 per cent., the mean
+of 18 days giving 18·51 per cent.; while, at that period, the coined
+money was 38·39 per cent. on the clean bars.
+
+In 1856, during a short coinage I reduced its average amount to 13·78
+per cent., the coined money increasing to 41·74 per cent. on the clean
+bars; but, as shown at page 92, this improved in 1857 to 6·99 per
+cent., while the coined money rose to 57·26 per cent. on the clean bars.
+
+In 1860, from January 4th to February 18th inclusive (41 days), the
+highest was 7·71 per cent., the lowest 2·33 per cent.; the mean of 41
+days was 4·11 per cent., which by the file was reduced to 2·07 per
+cent.;[78] while, at that period, the coined money was 57·43[79] per
+cent. on the clean bars.
+
+[Footnote 77: See pages 91, 97, 133, 135.]
+
+[Footnote 78: See Master’s Letter to Treasury, page 179.]
+
+[Footnote 79: See my Report to the Master of the Mint, March 8, 1860.]
+
+Before arriving at definite conclusions as regards the amount of
+rejected work, it will be necessary to understand that up to the 2nd
+of August, 1861, the remedy[80] allowed in practice was 0·30 grain,
+and that in proportion as the remedy is reduced, the amount of rejected
+is increased; it is also the case that when work is good all the
+blanks or coins approach the standard weight, but when it is bad they
+as invariably go to the side or margin of the remedy. The following
+table exhibits the amount per cent. of rejected work[81] which took
+place, with the various remedies; and these facts once determined, are
+to be remembered, because the rejected will in all cases bear these
+proportions to each other. In this table sovereigns are alluded to.
+
+[Footnote 80: See Remedy explained at page 39.]
+
+[Footnote 81: See page 44.]
+
+                   REMEDY IN PARTS OF A GRAIN.
+    +----------------+------+------+------+------+------+------+------+
+    |                | 0·30 | 0·25 | 0·24 | 0·23 | 0·22 | 0·21 | 0·20 |
+    |                |Grain.|Grain.|Grain.|Grain.|Grain.|Grain.|Grain.|
+    +----------------+------+------+------+------+------+------+------+
+    |Average in 1860 |4·00  | 8·00 | ...  | ...  | ...  | ...  |12·00 |
+    |    ”      1861 |...   |10·00 |13·00 |15·00 |15·00 |18·00 |19·00 |
+    |    ”       ”   |5·10  |10·50 | ...  | ...  | ...  | ...  |19·66 |
+    +----------------+------+------+------+------+------+------+------+
+
+These considerations had no weight when the Coinage Bill was being
+hurriedly passed—at late hours, so as to avoid discussion on its
+clauses—by the House of Commons. It in due course reached the House
+of Lords, where Lord Kinnaird moved a clause—which would have been
+greatly to the benefit of the Mint had it been adopted—to the effect
+that the remedy on the individual piece should be 0·2568 grain; that
+is—the remedy from the old scale under the Mint Indenture proportioned
+to one coin. This Coinage Bill introduced a new principle, and it would
+have been wise had it given the Mint every chance of success. Instead,
+however, of proceeding cautiously, his lordship’s motion was rejected
+and the remedy declared fixed at 0·2000 grain, thus necessitating the
+use of a working remedy of 0·1700 grain, or perhaps 0·1500 grain, and
+the consequent rejection for re-melting of “_only_ 15½ per cent. of
+the whole of the money coined.” My experience tells me, more probably
+of about 35 per cent.; but upon this head I will allow Mr. Napier to
+speak. He says, “Indeed, roundly taken, the returns to the crucible
+may be put at nearly 50 per cent.; so that to produce a given weight
+of finished coin, something like double the weight of metal must be
+melted. So long as this state of things lasts, the process up to the
+formation of the blank must be regarded as imperfect.” It is not the
+_process that fails_, it is the want of power _to conduct that process_
+which causes so candidly admitted a continuation of the fatal system
+re-introduced by Mr. John Graham.
+
+The proportioned legal remedy was 0·2568 grain. Now we can only wish
+to be within the law. If, therefore, 0·25 grain had been adopted as
+a _working remedy_, the automaton balances are so accurate that no
+piece could ever be found beyond the remedy, on either side, and an
+immense expense would be saved in labour alone, for the rejected
+goes to the melting-pot; yet, owing to a mistake on the part of the
+Bank of England, 0·20 grain was used in 1861, but under my urgent
+representation this was relaxed because of the extravagant expense, and
+for some years 0·24 grain was used, in accordance with the following
+order from the Master:—“Mr. Ansell is requested to increase the remedy
+on sovereigns from 0·20 grain to 0·24 grain, and the half-sovereigns in
+a similar proportion.—14th of August, 1861. (Signed) THOMAS GRAHAM.”
+Under other management, since the early part of 1868, the working
+remedy has been reduced to 0·15 grain. Such useless waste, it is to be
+hoped, has only to be pointed out that this clause of the New Coinage
+Act may be repealed.
+
+Following these considerations, the next table will show the rate
+per cent. of rejected sovereigns and half-sovereigns, as well as the
+remedies practically employed in regular work. They are, in all cases,
+the average results of whole coinages of each specific year mentioned.
+
+    +------+---------+---------+-----------------------+--------------+
+    |      |         |         |     By Filing Metal   |              |
+    |      |         |         |    from the Edges of  |              |
+    |      |         |         |    the Heavy Blanks   |              |
+    |      |         |         |    they were reduced  |  Sovereigns  |
+    |      |         |  Half-  |     to the Standard   | coined (that |
+    |Date. |Sovereign|Sovereign|     Weight when the   | is, weighed  |
+    |      | Blanks. | Blanks. |      original rate    |after the Coin|
+    |      |         |         |        per cent.      | was struck,  |
+    |      |         |         |     was reduced to,   | so the heavy |
+    |      |         |         |           on          | were melted).|
+    |      |         |         +-----------+-----------+              |
+    |      |         |         |Sovereigns.|   Half-   |              |
+    |      |         |         |           |Sovereigns.|              |
+    +------+---------+---------+-----------+-----------+--------------+
+    |      |Per Cent.|Per Cent.| Per Cent. | Per Cent. |  Per Cent.   |
+    | 1855 |  21·49  |  32·29  |    ...    |     ...   |       ...    |
+    | 1856 |  14·50  |  20·04  |    ...    |     ...   |       ...    |
+    | 1857 |   7·44  |  16·13  |    ...    |     ...   |       ...    |
+    | 1858 |   4·50  |  11·16  |    ...    |     ...   |       ...    |
+    | 1859 |   5·67  |   8·86  |    4·14   |     5·52  |       ...    |
+    | 1860 |   3·62  |  10·08  |    1·69   |     4·65  |       ...    |
+    | 1861 |   5·75  |   ...   |    3·36   |     ...   |       ...    |
+    |   ”  |  21·43  |   ...   |   12·22   |     ...   |       ...    |
+    |   ”  |  16·07  |   ...   |    6·68   |     ...   |       ...    |
+    | 1862 |   9·48  |  17·06  |    3·37   |    11·53  |       ...    |
+    | 1863 |   9·68  |   ...   |    4·25   |     ...   |       ...    |
+    |   ”  |  18·76  |  18·08  |    ...    |    11·69  |       ...    |
+    |   ”  |  18·76  |   ...   |    6·76   |     ...   |       ...    |
+    |   ”  |   ...   |  28·79  |    ...    |    12·86  |       ...    |
+    | 1864 |  15·15  |  28·27  |    5·07   |    12·79  |       ...    |
+    |   ”  |   ...   |   ...   |    ...    |     ...   |       5·74   |
+    | 1865 |   ...   |   ...   |    ...    |     ...   |       6·61   |
+    | 1866 |   ...   |   ...   |    ...    |     ...   |       9·87   |
+    | 1867 |   ...   |   ...   |    ...    |     ...   |       ...    |
+    | 1868 |   ...   |   ...   |    ...    |     ...   |      17·82   |
+    +------+---------+---------+-----------+-----------+--------------+
+    +------+------------+----------------------------+-----------------+
+    |      |            |                            |                 |
+    |      |            |                            |                 |
+    |      |   Half-    |                            |                 |
+    |      | Sovereigns |                            |                 |
+    |      |coined (that|    Remedies employed on    |   Remedies      |
+    |Date. | is, weighed|         Sovereigns         |   employed      |
+    |      | after the  |       on each piece.       |   on Half-      |
+    |      |  Coin was  |                            |  Sovereigns     |
+    |      | struck, so |                            |      on         |
+    |      | the heavy  |                            |  each piece.    |
+    |      |   were     |                            |                 |
+    |      | melted).   |                            |                 |
+    |      |            |                            |                 |
+    +------+------------+----------------------------+-----------------+
+    |      | Per Cent.  |    Parts of a Grain.       |Parts of a Grain.|
+    | 1855 |      ...   | ...  |  ...  |  ... | 0·30 |  ...   |  0·15  |
+    | 1856 |      ...   | ...  |  ...  |  ... | 0·30 |  ...   |  0·15  |
+    | 1857 |      ...   | ...  |  ...  |  ... | 0·30 |  ...   |  0·15  |
+    | 1858 |      ...   | ...  |  ...  |  ... | 0·30 |  ...   |  0·15  |
+    | 1859 |      ...   | ...  |  ...  |  ... | 0·30 |  ...   |  0·15  |
+    | 1860 |      ...   | ...  |  ...  |  ... | 0·30 |  ...   |  0·15  |
+    | 1861 |      ...   | ...  |  ...  |  ... | 0·30 |  ...   |  ...   |
+    |   ”  |      ...   | ...  |  0.20 |  ... |  ... |  ...   |  ...   |
+    |   ”  |      ...   | ...  |  ...  | 0·24 |  ... |  ...   |  ...   |
+    | 1862 |      ...   | ...  |  ...  | 0·24 |  ... |  0·12  |  ...   |
+    | 1863 |      ...   | ...  |  ...  | 0·24 |  ... |  ...   |  ...   |
+    |   ”  |      ...   | ...  |  ...  |  ... |  ... |  0·12  |  ...   |
+    |   ”  |      ...   | ...  |  ...  | 0·24 |  ... |  ...   |  ...   |
+    |   ”  |      ...   | ...  |  ...  | 0·24 |  ... |  0·12  |  ...   |
+    | 1864 |      ...   | ...  |  ...  | 0·24 |  ... |  0·12  |  ...   |
+    |   ”  |     14·76  | ...  |  ...  | 0·24 |  ... |  0·12  |  ...   |
+    | 1865 |     12·60  | ...  |  ...  | 0·24 |  ... |  0·12  |  ...   |
+    | 1866 |     15·64  | ...  |  ...  | 0·24 |  ... |  0·12  |  ...   |
+    | 1867 |     20·28  | ...  |  ...  |  ... |  ... |  0·12  |  ...   |
+    | 1868 |      ...   | 0·15 |  ...  |  ... |  ... |  ...   |  ...   |
+    +------+------------+------+-------+------+------+--------+--------+
+
+It will thus be seen that of the whole mass of gold coined in 1868,
+17·82 per cent. of sovereigns and 20·28 per cent. of half-sovereigns
+went respectively to the melting-pot—a state of things which no
+contractor would tolerate for a week; yet this waste has continued
+throughout 1870. Now, there can be no reason why the bullion should not
+again be weighed in the form of blanks, and the heavy blanks reduced
+by the file, as they were in former days; for it must be remembered
+that that file[82] has met with approval and adoption by the highest
+authorities on coining in their respective mints, and there is manifest
+folly and waste in sending fully 50 per cent. more rejected work to
+the melter than is absolutely necessary. These remarks will be more
+impressive if the table of rejected work be examined for 1861, where
+it will be seen that, with a remedy of 0·30 grain, the rejected was
+5·75, reduced to 3·36 per cent., whereas it immediately went up to
+21·43, reduced to 12·22 per cent., when, on the 2nd of August, the
+remedy was reduced to 0·20 grain; and that on the 14th of August, when
+the remedy was increased to 0·24 grain, the rejected became 16·07, and
+was reduced to 6·68 per cent., these being the figures obtained by
+the total amounts passed through all the automaton machines. We will
+next, then, see the effect of this extravagance in manufacture on the
+total out-turn of coin, because this is the final test of the cost of
+manufacture, it being readily understood that if 17 per cent. of the
+whole coinage be remelted, whereas 2·07 per cent. used to suffice,
+there must of necessity be a clear waste of labour to the extent
+of 15 per cent. Therefore, not only is unnecessary labour exacted,
+but also a large additional loss by melting is—under the present
+Authorities—incurred, as well as the loss by coining (see pages 101,
+103). Having considered this, it will be fitting that the subject of
+wages paid to workmen shall receive attention, as a means to arrive at
+the cost of coining a sovereign, and which, it may be here stated, has
+been by others estimated at far too high a sum.
+
+[Footnote 82: See pages 44-45.]
+
+In discussing, then, the amount of coined money obtained from gold
+bars, it will be necessary to enter into details of figures, and
+to show not only the rate per centum of coin obtained from bars as
+forwarded by the melter, but also the rate obtained from the clean
+bars—that is, from bars whose ends have been sheared off, and from
+the total weight of which the brittle bars and stopped pots have
+been deducted, thus leaving none but solid workable bars called, in
+practice, “clean bars,” as against the rough bars, which, indeed are
+rough enough to deserve that title.
+
+STATEMENT SHOWING THE RATE PER CENTUM OF MIXED COIN FROM ROUGH BARS OF
+GOLD, AND THE RATE PER CENTUM OF SOVEREIGNS AND HALF SOVEREIGNS FROM
+THOSE RESPECTIVE BARS. THE BRITTLE BARS AND STOPPED POTS ARE DEDUCTED.
+
+    +-----------------------------+-----------+-----------+------------+
+    |           Coinage           |           |           |    Rate    |
+    |      conducted between      |Mixed Bars,|Mixed Coin.|per cent. on|
+    |        the Periods:—        | “Rough.”  |           |Mixed Bars. |
+    |                             |           |           |            |
+    +-----------------------------+-----------+-----------+------------+
+    |                             |  Ounces.  |  Ounces.  |            |
+    |November 1856 to April 1857  | 1,103,403 |   456,575 |   41·37    |
+    |October 1857 to March 1858   | 2,280,033 | 1,238,171 |   54·24    |
+    |November 1858 to June 1859   | 1,955,961 |   915,530 |   46·80    |
+    |January 1860 to March 1860   | 1,460,209 |   802,847 |   54·28    |
+    |January 1861 to April 1861   | 1,707,098 |   862,329 |   50·51    |
+    |June 1861 to March 1862      | 4,448,353 | 1,874,885 |   42·14    |
+    |May 1862 to March 1863       | 4,534,377 | 2,354,805 |   51·93    |
+    |October 1863 to June 1864    | 4,946,697 | 2,323,238 |   46·96    |
+    |October 1864 to December 1864| 1,981,150 |   958,354 |   48·87    |
+    |January 1865 to August 1865  | 1,129,772 |   518,673 |   45·91    |
+    |November 1865 to May 1866    | 3,580,017 | 1,396,567 |   39·29    |
+    |April 1867 to June 1867      |   305,418 |   127,576 |   41·77    |
+    |July 1868 to August 1868     |   678,976 |   280,993 |   41·38    |
+    +-----------------------------+-----------+-----------+------------+
+    +-----------------------------+---------+----------+------------+
+    |           Coinage           |Sovereign|          |    Rate    |
+    |      conducted between      |  Bars,  |Sovereigns|per cent. on|
+    |        the Periods:—        |“Rough.” | Coined.  | Sovereign  |
+    |                             |         |          |   Bars.    |
+    +-----------------------------+---------+----------+------------+
+    |                             | Ounces. | Ounces.  |            |
+    |November 1856 to April 1857  |  480,704|  288,592 |    60·03   |
+    |October 1857 to March 1858   |2,133,366|1,168,227 |    54·29   |
+    |November 1858 to June 1859   |1,341,862|  592,325 |    44·14   |
+    |January 1860 to March 1860   |1,185,227|  657,362 |    55·46   |
+    |January 1861 to April 1861   |1,402,538|  717,010 |    51·12   |
+    |June 1861 to March 1862      |4,448,353|1,874,885 |    42·14   |
+    |May 1862 to March 1863       |4,237,267|2,220,713 |    52·40   |
+    |October 1863 to June 1864    |4,557,216|2,166,112 |    47·53   |
+    |October 1864 to December 1864|1,713,659|  847,357 |    49·44   |
+    |January 1865 to August 1865  |  779,345|  373,340 |    47·90   |
+    |November 1865 to May 1866    |2,676,226|1,041,926 |    38·11   |
+    |April 1867 to June 1867      |   ...   |   ...    |      ...   |
+    |July 1868 to August 1868     |  678,976|  280,993 |    41·38   |
+    +-----------------------------+---------+----------+------------+
+    +-----------------------------+----------+----------+--------------+
+    |           Coinage           |   Half   |   Half   |     Rate     |
+    |      conducted between      | Sovereign|Sovereigns| per cent. on |
+    |       the Periods:—        |   Bars,  | Coined.  |Half Sovereign|
+    |                             | “Rough.” |          |    Bars.     |
+    +-----------------------------+----------+----------+--------------+
+    |                             |  Ounces. |  Ounces. |              |
+    |November 1856 to April 1857  |  622,699 |  167,983 |     26·97    |
+    |October 1857 to March 1858   |  146,667 |   69,944 |     47·68    |
+    |November 1858 to June 1859   |  614,099 |  323,203 |     52·63    |
+    |January 1860 to March 1860   |  274,982 |  145,400 |     52·87    |
+    |January 1861 to April 1861   |  304,560 |  145,319 |     47·71    |
+    |June 1861 to March 1862      |          |          |              |
+    |May 1862 to March 1863       |  297,110 |  134,092 |     45·13    |
+    |October 1863 to June 1864    |  389,481 |  157,125 |     40·34    |
+    |October 1864 to December 1864|  267,491 |  110,986 |     41·48    |
+    |January 1865 to August 1865  |  350,427 |  145,332 |     41·47    |
+    |November 1865 to May 1866    |  903,791 |  354,640 |     39·23    |
+    |April 1867 to June 1867      |  305,418 |  127,576 |     41·77    |
+    |July 1868 to August 1868     |          |          |              |
+    +-----------------------------+----------+----------+--------------+
+
+STATEMENT SHOWING THE GOLD BARS USED IN EACH COINAGE FROM NOVEMBER,
+1856, TO AUGUST, 1868, AND THE RATE PER CENTUM OF ENDS, OF MIXED GOLD
+COIN, AND OF SOVEREIGNS AND HALF SOVEREIGNS PRODUCED FROM THOSE BARS.
+
+    +-----------------------------+-----------+---------+---------+
+    |                             |           |         |         |
+    |           Coinage           |Mixed Bars,|  Ends   |Sovereign|
+    |      conducted between      | “Clean.”  |cut from |  Bars,  |
+    |       the Periods:—         |           |  Bars.  | “Clean.”|
+    |                             |           |         |         |
+    +-----------------------------+-----------+---------+---------+
+    |                             |   Ounces. |Per Cent.| Ounces. |
+    |November 1856 to April 1857  | 1,057,776 |    4·13 |  460,851|
+    |October 1857 to March 1858   | 2,192,798 |    3·82 |2,051,872|
+    |November 1858 to June 1859   | 1,798,717 |    4·41 |1,210,447|
+    |January 1860 to March 1860   | 1,414,516 |    3·13 |1,148,130|
+    |January 1861 to April 1861   | 1,619,251 |    5·14 |1,330,448|
+    |June 1861 to March 1862      | 4,215,722 |    5·22 |4,215,722|
+    |May 1862 to March 1863       | 4,351,531 |    4·03 |4,066,506|
+    |October 1863 to June 1864    | 4,566,032 |[83]7·60 |4,261,432|
+    |October 1864 to December 1864| 1,851,724 |    6·48 |1,602,533|
+    |January 1865 to August 1865  | 1,047,901 |    7·24 |  722,921|
+    |November 1865 to May 1866    | 3,336,536 |    6·80 |2,494,243|
+    |April 1867 to June 1867      |   291,696 |    4·50 |    ..   |
+    |July 1868 to August 1868     |   612,857 |    9·57 |  612,857|
+    +-----------------------------+-----------+---------+---------+
+    +-----------------------------+--------+---------+--------+---------
+    |                             |  Half  |  Mixed  | Sover- |   Half
+    |           Coinage           | Sover- |  Coin,  |  eigns |Sovereigns
+    |      conducted between      |  eign  |including|  from  |   from
+    |       the Periods:—         |  Bars, |   Pyx   | “Clean”|  “Clean”
+    |                             |“Clean.”| Pieces. |  Bars. |   Bars.
+    +-----------------------------+--------+---------+--------+---------
+    |                             | Ounces.|Per Cent.|Per Cent|Per Cent.
+    |November 1856 to April 1857  | 596,925|  43·16  |  62·62 |   28·12
+    |October 1857 to March 1858   | 140,926|  56·39  |  56·93 |   49·63
+    |November 1858 to June 1859   | 588,269|  50·89  |  48·93 |   54·94
+    |January 1860 to March 1860   | 266,386|  56·75  |  56·43 |   54·54
+    |January 1861 to April 1861   | 288,803|  53·18  |  53·88 |   50·03
+    |June 1861 to March 1862      |   ...  |   ...   |  44·47 |
+    |May 1862 to March 1863       | 285,025|  54·03  |  54·60 |   47·39
+    |October 1863 to June 1864    | 304,600|  50·88  |  50·82 |   51·25
+    |October 1864 to December 1864| 249,191|  51·75  |  52·87 |   44·53
+    |January 1865 to August 1865  | 324,980|  49·49  |  51·64 |   44·72
+    |November 1865 to May 1866    | 842,293|  41·80  |  41·77 |   42·10
+    |April 1867 to June 1867      | 291,696|   ...   |   ...  |   43·70
+    |July 1868 to August 1868     |   ...  |   ...   |  45·84 |
+    +-----------------------------+--------+---------+--------+---------
+
+[Footnote 83: See pages 46, 92.]
+
+The half-sovereigns shown in this table (page 111) at 26·97 per cent.
+were coined in November, under the old system, but they are placed here
+that these returns may be accurate. The effect of the reduction of the
+remedy from 0·30 to 0·20 grain (which has been explained at page 107)
+is evidenced in the amount of coin obtained in the period—June, 1861,
+to March, 1862; yet it is fair to admit that some of this gold was
+exceptionally bad, for the Bank of England, finding that the bad gold
+of 1859 had been coined, paid the Mint the compliment to send at this
+period some of a singularly rotten character, with an appearance almost
+woolly; and if reference be made to the table of rejected at page 109,
+this gold will be seen to have produced, with a remedy of 0·24 grain,
+16·07, reduced to 6·68 per cent., over the remainder of the coinage,
+thus making the disastrous effect of the reduced remedy more apparent.
+As has been before stated, the gold of 1859 contained, besides a vast
+amount of brittle gold, 0·45[84] per cent. of its whole weight of dumb
+fillets. Then, coming to the period, October, 1863, to June, 1864, we
+find a continued state of bad work, influenced by the remedy of 0·24
+grain to a certain extent but to a much more marked degree by the new
+system which was now introduced; and by referring to the next table, it
+will be seen that the ends at one jump went up from 4·03 to 7·60 per
+cent., because a mistaken opinion led to the shearing off the ends from
+the bars in the rolling room. The order for the re-introduction of this
+abandoned custom was in the following terms, so could not be set aside
+by those who saw its _unwisdom_:—“In the practice of the rolling room,
+Mr. John Graham is requested to cause not less than 3 inches from the
+hollow end of each gold bar to be cut off before beginning the rolling,
+with a view of keeping back the doubtful portion of the bar.—(Signed)
+THOMAS GRAHAM. 7th December, 1863.” Grave as was this error, it was
+surpassed by a real blunder, for at this period it was determined to
+stop all fillets that appeared to exhibit any signs of brittleness,
+thus hopelessly rejecting an immense bulk of really good work lest it
+should contain any bad; whereas, had the proper course been adopted,
+the good from each fillet should have been selected, as was the
+_invariable_ custom under the MONEYERS and the small per-centage of
+really bad fillets rejected. By this system the men were thoroughly
+disheartened. To such a length was this mismanagement at last carried,
+that the officers and men allowed things to take their course, feeling
+sure that time would demonstrate the folly of the present system.
+However, the extravagance has continued down to this day. Yet another
+source of waste of labour was left; and even this was utilised. In the
+working of the draw-bench, as well as the mill, there are at starting
+many fillets so varying in thickness that it is not fair to make the
+trier send them to the _cutters_ as regular work. It was the custom at
+that period to detain these fillets to the end of the day, when they
+were especially treated, cut at a special cutter, and the blanks sent
+to be weighed—the good were reserved, but the bad were returned to the
+trier, yet not charged to him as bad work, thus enabling him to save at
+least 70 per cent. of, perhaps, 5,000 ounces per diem. Under the new
+_régime_ this was not permitted, from sheer want of knowledge, although
+its stoppage was condemned alike by officers and men. Causes such as
+these reduced the average amount of coined sovereigns, from rough bars,
+from 51 to 44 per cent., as will be seen by examining the table of
+coined money obtained from _rough bars_.[85] By now referring to the
+accompanying statement, the effect of this mismanagement will be seen,
+for instead of an average of 52·40, only 48·48 per cent. of coin was
+obtained from bars[86] that had been stripped of every fault that could
+interfere with their producing power. Instead of yielding, as these
+should have done, a larger proportion of coin, they really gave less
+than the coin previously obtained from rough bars, as will be manifest
+if this statement be consulted. But, that these facts may be more
+clear, this abstract is made from the two previous tables, showing the
+averages of coin obtained and the waste of labour by manufacture under
+the present system, so clearly to exhibit the amount of loss in money
+value by labour alone.
+
+[Footnote 84: See pages 46, 92.]
+
+[Footnote 85: See page 111.]
+
+[Footnote 86: See page 110.]
+
+    +---------------------------+-------------------------------+
+    |                           |         On Rough Bars.        |
+    |                           +-------+-----------+-----------+
+    |            From           | Mixed |Sovereigns.|   Half    |
+    |                           | Coin. |           |Sovereigns.|
+    +---------------------------+-------+-----------+-----------+
+    |November 1856 to March 1863| 48·75 |    51·34  |   45·49   |
+    |October 1863 to August 1868| 44·03 |    44·87  |   40·85   |
+    +---------------------------+-------+----------+------------+
+    |Waste per Centum           |  4·72 |     6·57  |     4·64  |
+    +---------------------------+-------------------------------+------+
+    |                           |             On Clean Bars.           |
+    |                           +-------+-----------+-----------+------+
+    |            From           | Mixed |Sovereigns.|   Half    | Ends.|
+    |                           | Coin. |           |Sovereigns.|      |
+    +---------------------------+-------+-----------+-----------+------+
+    |November 1856 to March 1863| 52·40 |   53·98   |   47·44   | 4·26 |
+    |October 1863 to August 1868| 48·48 |   48·58   |   45·26   | 7·03 |
+    +---------------------------+-------+-----------+-----------+------+
+    |Waste per Centum           |  3·92 |    5·40   |     2·18  | 2·77 |
+    +---------------------------+-------+-----------+-----------+------+
+
+STATEMENT SHOWING THE AMOUNT OF MONEY COINED AND OF PYX PIECES BETWEEN
+NOVEMBER, 1856, AND AUGUST, 1868.
+
+    LEGEND:
+        (A) = Money Coined:—Sovereigns and Half Sovereigns.
+        (B) = Coined Money:—Sovereigns
+        (C) = Coined Money:—Pyx Pieces.
+        (D) = Coined Money:—Half Sovereigns.
+        (E) = Coined Money:—Mixed Pyx Pieces.
+    +---------------------------------+-----------+-----------+--------+
+    |         Coinage                 |           |           |        |
+    |     conducted between           |    (A)    |    (B)    |  (C)   |
+    |      the Periods:—              |           |           |        |
+    +---------------------------------+-----------+-----------+--------+
+    |                                 |  Ounces.  |   Ounces. | Ounces |
+    | November 1856 to April 1857     | 456111·568| 288314·570| 277·857|
+    | October 1857 to March 1858      |1236713·674|1166819·294|1407·777|
+    +---------------------------------+-----------+-----------+--------+
+    |December 1858 to January 1859[87]| 450090·524| 410119·648| 584·990|
+    |March 1859 to June 1859[88]      | 464407·847| 181414·181| 207·494|
+    +---------------------------------+-----------+-----------+--------+
+    | January 1860 to March 1860      | 801722·890| 656425·814| 936·549|
+    | January 1861 to April 1861      | 861205·000| 715989·212|1021·293|
+    | June 1861 to March 1862         |1872214·638|1872214·638|2670·720|
+    | May 1862 to March 1863          |2351444·336|2217447·814|3265·725|
+    | October 1863 to June 1864       |2320041·256|2163027·402|3085·452|
+    | October 1864 to December 1864   | 957057·966| 846150·074|1207·216|
+    | January 1865 to August 1865     | 518037·315| 372808·744| 532·079|
+    | November 1865 to May 1866       |1394809·101|1040421·949|1504·848|
+    | April 1867 to June 1867         | 127485·816|           |        |
+    | July 1868 to August 1868        | 280608·540| 280608·540| 385·200|
+    +---------------------------------+-----------+-----------+--------+
+    |         Coinage                 |           |           |        |
+    |     conducted between           |    (D)    |   (C)     |  (E)   |
+    |      the Periods:—              |           |           |        |
+    +---------------------------------+-----------+-----------+--------+
+    |                                 |  Ounces.  |  Ounces.  |Ounces. |
+    | November 1856 to April 1857     | 167796·998|  186·436  | 464·293|
+    | October 1857 to March 1858      |  69894·380|   49·947  |1457·724|
+    +---------------------------------+-----------+-----------+--------+
+    |December 1858 to January 1859[89]|  39970·876|   28·404  | 613·394|
+    |March 1859 to June 1859[90]      | 282993·693|  210·844  | 418·338|
+    +---------------------------------+-----------+-----------+--------+
+    | January 1860 to March 1860      | 145297·076|  103·747  |1040·296|
+    | January 1861 to April 1861      | 145215·788|  103·618  |1124·911|
+    | June 1861 to March 1862         |           |           |        |
+    | May 1862 to March 1863          | 133996·522|   95·786  |3361·511|
+    | October 1863 to June 1864       | 157013·854|  111·964  |3197·416|
+    | October 1864 to December 1864   | 110907·892|   79·094  |1286·310|
+    | January 1865 to August 1865     | 145228·571|  103·618  | 635·697|
+    | November 1865 to May 1866       | 354387·061|  253·461  |1758·309|
+    | April 1867 to June 1867         | 127485·816|   90·265  |        |
+    | July 1868 to August 1868        |           |           |        |
+    +---------------------------------+-----------+-----------+--------+
+
+[Footnote 87: Explained on page 115.]
+
+[Footnote 88: Explained on page 115.]
+
+[Footnote 89: Explained on page 115.]
+
+[Footnote 90: Explained on page 115.]
+
+To show the extra cost of coining, these figures have but to be
+multiplied into the sums coined. Before, however, entering upon this
+field, it will be well to explain that the rates per cent. of coined
+money obtained, as exhibited in the last two tables, are inclusive of
+the pyx pieces, so as to show, as far as possible, the best results.
+The pieces taken for the Mint trial are excluded, because these do not
+ultimately find their way into circulation; but that the vast money
+loss may be seen, I have added, in a tabular form, a statement[91]
+which will show the weight of coined money produced in each coinage
+from 1856 to 1868. It may, at first sight, appear that if the work
+be so badly conducted as to yield an average of 3·92 per cent. less
+coined money from a hundred ounces of bars, the expense incurred is
+increased to an equivalent amount; but such is not the case, for
+all depends on the point at which the extravagant workmanship may
+have taken place. If, for instance, the bad work be produced in the
+rolling room, it simply induces the expenditure of so much wages in
+the melting, because the men are paid for the bars produced; but if
+the rejection shall have taken place after the money is coined, it
+becomes a more serious matter, because, in such a case, the loss and
+expense attendant on each operation subsequent to the melting have been
+incurred. It is, therefore, extremely difficult to give a general rule,
+but an instance will suffice. The coinage for 1857,[92] inclusive of
+every _manufacturing_ expense, cost 6_s._ 5_d._ per thousand pieces;
+while that of 1866 cost 13_s._ 2_d._ per thousand pieces. That the
+exact amount of waste may be estimated for these two years, then, it is
+only necessary to multiply the weight given previously (refer to page
+114) for the coined money and pyx pieces, which, in the period from
+November, 1856, to April, 1857, would be 456,111·568, added to 464·293,
+and the sum of these, multiplied by £3·89375,—the decimal expression
+for £3 17_s._ 10½_d._, when the total value of that coinage will be
+obtained, and found to be £1,777,796·15. Since each thousand coins
+cost 6_s._ 5_d._, the total sum was coined at an expense of £570 7_s._
+6_d._; but, had the rate of expense been the same as for the coinage of
+1866, the total cost would have been £1,170 7_s._ 7½_d._, or exactly
+£600 0_s._ 1½_d._ more than it should have cost for actual working
+expenses. So by the rule of proportion the actual expense for the
+coinage of 1866 may be obtained, and this table is valuable as showing
+the weight of each coinage, but will naturally be more serviceable to
+those who seek practical information than to general readers, and for
+the benefit of such it is added.
+
+[Footnote 91: See page 114.]
+
+[Footnote 92: See page 117.]
+
+On examining this table (see page 114), it will be observed that
+the coinages of December, 1858, to June, 1859, and against which is
+placed, are bracketed, with a view to call attention to the fact that
+the accounts of those two coinages became inexplicably mixed. Since
+the present and the late Prime Minister have stated from their places
+in Parliament that the Royal Mint is found wanting in administrative
+ability, it may not be out of place to suggest that there is abundant
+room for reform in the Office division of that Department, for it is
+seldom that the accounts can be obtained for many months after the
+work is finished, and this circumstance, as is apparent, is a serious
+inconvenience to the operative department.
+
+Following these considerations on the extravagance of manufacture, and
+reflecting on what the processes should be, it appears that this is
+a fitting point at which to study the cost of producing gold coins,
+and, consequently, the rates of wages paid to the men for labour.
+Therefore, it may be well to state that there were two systems of
+payments to workpeople: one by which they were paid for _time_, that
+is, by the hour, for cleaning the working departments, machinery, &c.,
+and for the more important coining of bronze; while for the coining of
+the precious metals they were paid by a scale of _piece-work_. These
+systems produced nothing but dissatisfaction amongst the workpeople,
+for at times they were receiving very good wages, and at others none
+at all; and to meet such contingencies the men and boys who were on
+the establishment received a kind of retaining fee, which was called
+subsistence, and in bitter irony no more fit name can be given to
+the miserable pittance which, under this form, was paid to them. It
+commenced at 6_s._ a week, and, after twenty years, rose to 10_s._
+a week; and if, as often happened, the Mint were idle for months
+together, this was all the poor fellows had to subsist upon; and, to
+reduce the value of this pittance to its smallest proportion, they were
+not entitled to it unless they should each day present themselves,
+and, by a fiction, ask for leave of absence for that day, the longest
+period for which leave can be granted. After many attempts to compel
+the men to comply with these terms, they were wisely permitted to
+go home, and “wait further orders;” so that, by a kind of tacit
+resistance, they were able to overcome a regulation which would make
+it impossible to obtain employment elsewhere, because most other work
+commences before eight, at which hour they were required to present
+themselves. If, instead of this unsatisfactory state, the men were paid
+fixed wages, and, in addition, so much for each 100 lbs. of coined
+money produced, they would be satisfied, while the coined money would
+be produced at a cheaper rate, for each man would be concerned to see
+that every exertion was made for the final event; whereas, under the
+then arrangement, with a specific amount of gold to be coined, it is
+manifest that, with management such as is now under discussion, the sum
+for wages might be doubled, because the men were paid at the following
+
+Rates for Piece-work.
+
+    LEGEND:
+        (A) = Rolling Fillets.
+        (B) = Adjusting and Cutting.
+        (C) = Marking and Annealing.
+        (D) = Coining in Press Room.
+        (E) = Melting. (Ends are not deducted.)
+    +----------------------+-------+-------+-------+-------+------+
+    |     For each 100 lbs.|       |       |       |       |      |
+    |       Troy of Good   |  (A)  |  (B)  |  (C)  | (D)   | (E)  |
+    |       Work produced. |       |       |       |       |      |
+    +----------------------+-------+-------+-------+-------+------+
+    |                      |_s. d._|_s. d._|_s. d._|_s. d._| _d._ |
+    |Gold   Sovereigns     | 3  0  | 5  0  | 3  0  | 2  6  |  5   |
+    |       Half Sovereigns| 5  0  |10  0  | 6  0  | 5  0  |  5   |
+    +----------------------+-------+-------+-------+-------+------+
+    |       Florins        | 1  6  | 2  6  | 2  0  | 1  8  |  5   |
+    |         and upwards  |       |       |       |       |      |
+    |       Shillings      | 2  0  | 3  6  | 3  6  | 3  0  |  5   |
+    |Silver Sixpences      | 4  0  | 7  0  | 7  0  | 6  0  |  5   |
+    |       Fourpences     | 5  0  | 8  0  |14  0  |12  0  |  5   |
+    |       Threepences    | 6  0  |10  0  |14  0  |12  0  |  5   |
+    +----------------------+-------+-------+-------+-------+------+
+
+And, to view this matter in its practical light, we can demonstrate its
+unadvisedness. Thus, in the coinage of 1857,[93] there were 2,110,962
+ounces of gold bars wrought, which produced 2,016,337·80 ounces of
+fillets (equal to 95·51 per cent.). These fillets produced 1,163,502·34
+ounces of good blanks, from which 1,154,590·87 ounces of coined
+sovereigns were obtained. Now, if these various weights be reduced to
+wages—the men were paid for the produce of each operation—by the table
+above given, they will yield as follows:—
+
+[Footnote 93: See page 92.]
+
+                                     £ _s. d._
+    For melting                     36 12  9½
+     ”  rolling                    252  8  0½
+     ”  cutting and adjusting      260 12  5¾
+     ”  annealing and blanching    145  8  9
+     ”  coining in press room      120  5  4¾
+                                  --------------
+                                  £815  7  5½
+
+So that for producing 1,154,590·87 ounces, or £4,495,748, of coined
+money, the men were paid £815 7_s._ 5½_d._, which sum was equally
+divided amongst the whole body, except that paid to the melters, for
+they are still paid, by a curious fiction, as packers and tellers.
+This, then, is the sum paid for wages when the coin produced averaged
+54·79 per cent. on the bars; but let us see its amount compared with
+another statement put forward by the late Master of the Mint when the
+sovereigns produced averaged—the coinages concerned terminated in
+December, 1864,[94] and May, 1866[95]—49·44 and 38·11[96] per cent. on
+the bars respectively—in other words, let us compare this rate of pay
+with that given in the Report of the Commissioners on the International
+Coinage, from which book the figures for 1864 in the following Table
+are taken.
+
+[Footnote 94: See page 111.]
+
+[Footnote 95: See page 111.]
+
+[Footnote 96: By reference to the table at page 84, it will be seen
+that the amount of coin obtained in 1866 was below the worst produced
+at any other period since 1851.]
+
+    STATEMENT SHOWING THE COST OF PRODUCING
+    1,000 COINED SOVEREIGNS AND HALF SOVEREIGNS.
+
+    +-------+---------------+-----------+----------+---------------+
+    |       |               |           |          |               |
+    |       |               |   Total   | Average  |   Total Sum   |
+    | Date  |  Denomination |  Number   |Number of |    paid to    |
+    |  of   |    of Coin.   | of Coins  |Pieces per|   Workmen as  |
+    |Coining|               |  in the   |  Week.   |     Wages.    |
+    |       |               | Coinage.  |          |               |
+    +-------+---------------+-----------+----------+---------------+
+    |       |               |           |          |   £ _s.  d._  |
+    | 1857  |Sovereigns     | 4,495,748 |  497,625 |  778 14  8    |
+    | 1858  |    ”          |    47,549 |          |    8  4  2½   |
+    | 1858  |Half Sovereigns|   544,312 |  272,156 |   91 10  3    |
+    | 1864  |Sovereigns     | 5,663,656 |  514,878 |2,011 11  7½   |
+    +-------+---------------+-----------+----------+---------------+
+    +-------+------------+------------+------------+------------+
+    |       |            |  Cost of   |            |            |
+    |       |  Cost of   |1000 pieces |  Cost in   | Total Cost |
+    | Date  |   1,000    |in Salaries |  Loss of   |     of     |
+    |  of   | Pieces in  |    and     |  Metal by  | producing  |
+    |Coining|   Wages.   |contingent  |  Coining.  | 1000 Gold  |
+    |       |            | expenses.  |            |   Coins.   |
+    +-------+------------+------------+------------+------------+
+    |       |£  _s. d._  |£ _s.  d._  |£ _s.  d._  |£ _s.  d._  |
+    | 1857  | 0  3  5½   | 0  8  1¼   | 0  2  9½   | 0 14  4¼   |
+    | 1858  | 0  3  5¼   | 0 17  5½   | 0  4  1¼   | 1  5  2    |
+    | 1858  | 0  3  4½   | 0 18  3¾   | 0  4  1¼   | 1  5  9½   |
+    | 1864  | 0  7  2    | 0 12  9¼   | 0  6  0    | 1  5 11¼   |
+    +-------+------------+------------+------------+------------+
+    +-------+------------+-------------+
+    |       |            |             |
+    |       |            | Total Cost  |
+    | Date  |Cost of 1000|of producing |
+    |  of   | pieces for |  one Gold   |
+    |Coining|  melting.  |   Coin.     |
+    |       |            |             |
+    +-------+------------+-------------+
+    |       |£  _s. d._  |£  _s.  d._  |
+    | 1857  | 0  0 1·955 | 0  0  0·174 |
+    | 1858  |            | 0  0  0·302 |
+    | 1858  |            | 0  0  0·309 |
+    | 1864  |            | 0  0  0·311 |
+    +-------+------------+-------------+
+
+By which it is demonstrably shown that whereas at that period 1,000
+coins cost for wages 7_s._ 2_d._, at the periods above given, and shown
+as 1857-8, the cost was 3_s._ 5½_d._ for the same number of coins, thus
+showing a clear saving for wages, by the proper system of management,
+of 3_s._ 8½_d._ on each 1,000 sovereigns coined, or on that total
+quantity no less than £1,050 2_s._ 8½_d._ While such extravagance is
+not only tolerated but approved, miserable savings are effected at the
+cost of the helpless. But to treat of the wrongs to which men in this
+Department are submitted would take volumes which none would read.
+
+Since, however, the appearance of the last edition of this book, the
+Mint Authorities have adopted in part the plan of wages payment I
+therein suggested, and which I had submitted to the late Master of
+the Mint in my Report dated 29th January, 1859. Indeed, I believe the
+system now in force was recommended to the Treasury, in the first
+instance, by Mr. Thomas Graham. I am sorry they did not give full
+effect to my propositions, still they have improved the positions of
+the workmen by the alterations made, but for the reasons I shall state
+I cannot concur in what they have done. I leave my original proposition
+to speak for itself, as I reproduce it a few pages hence, and here
+content myself with exhibiting the system of payment to workmen now in
+force in the Royal Mint. _Vide_ “Mint Reports,” No. 7, 1870.
+
+“We propose that for the future all piece-work in gold and silver
+coining shall be paid for at the reduced rate of 1_s._ 9_d._ per 1,000
+good pieces, and all bronze coining at the rate of £2 10_s._ per
+ton for pence, £3 10_s._ per ton for halfpence, and £7 per ton for
+farthings.
+
+“In addition to their wages for piece-work, we propose that the men
+should be entitled to a uniform payment of £1, and the boys to a
+payment of 10_s._, and after three years’ service, to 15_s._ per week.
+The only exception to these arrangements would be the payments made
+to certain overmen, which would be in one case £1 10_s._, and in five
+other cases £1 5_s._ per week. These payments would continue to be made
+when the Mint is at work as well as when it is unemployed, and to the
+boys as well as to the men. All the men and boys would thus receive
+sufficient weekly wages to maintain them, both during a cessation of
+work and while the Mint is in full operation.
+
+“By this arrangement an average saving of £100 a year only will be
+effected.”
+
+To the principle involved in this system I take exception; for the
+manufacturers, who gave the idea for it, never coined the precious
+metals, so that the whole operation of the system could not have been
+present to their minds when they recommended it. By this plan the men
+are paid for simple numbers, and not as they should be, in proportion
+to the labour and anxiety incurred.
+
+That this fault may stand out clearly, I submit in the following table
+a fair week’s work on each coin, and we will assume that the one kind
+of coin follows the other, as indeed would really be the case in actual
+operation, only at greater intervals.
+
+    +-------------------------------+
+    |            GOLD.              |
+    +---------------+---------------+
+    |   Sovereigns. |      Half     |
+    |               |   Sovereigns. |
+    +---------------+---------------+
+    | 600 journeys  | 300 journeys  |
+    | per week.     | per week,     |
+    | = 420,600     | = 420,600     |
+    | pieces at 1/9 | pieces at 1/9 |
+    | per 1,000.    | per 1,000,    |
+    |               |               |
+    | Wages £36·80  | £36·80        |
+    +---------------+---------------+
+    +---------------------------------------------------------------+
+    |                           SILVER.                             |
+    +---------------+---------------+---------------+---------------+
+    |     Florins.  |   Shillings.  |   Sixpences.  | Threepences.  |
+    |               |               |               |               |
+    +---------------+---------------+---------------+---------------+
+    | 240 journeys  | 180 journeys  | 108 journeys  | 60 journeys   |
+    | per week,     | per week,     | per week,     | per week,     |
+    | = 475,200     | =712,800      | = 855,360     | = 950,400     |
+    | pieces at 1/9 | pieces at 1/9 | pieces at 1/9 | pieces at 1/9 |
+    | per 1,000,    | per 1,000,    | per 1,000.    | per 1,000.    |
+    |               |               |               |               |
+    | £41·55        | £62·37        | £74·84        | £33·16        |
+    +---------------+---------------+---------------+---------------+
+    +----------------------------------------------------+
+    |                        BRONZE.                     |
+    +------------------+------------------+--------------+
+    |    Pennies.      |  Half pennies.   | Farthings.   |
+    |                  |                  |              |
+    +------------------+------------------+--------------+
+    | 30 cwt. per      | 25 cwt. per      | 12 cwt. per  |
+    | diem, or say     | diem, or say     | diem, or say |
+    | 9 tons a week    | 7·50 tons a week,| 3·60 tons a  |
+    | at £2 10_s._     | at £3 10_s._     | week, at £7  |
+    | per ton.         | per ton.         | per ton.     |
+    |                  |                  |              |
+    | £22·50           | £26·25           | £25·20       |
+    +------------------+------------------+--------------+
+
+It is reasonable to suppose that men are more exposed to temptation
+when gold is within their reach (and that this is Mr. Fremantle’s view
+may be gathered from one of his reasons for urging a removal of the
+Mint, viz., to avoid “opportunities for peculation”) than when they are
+operating upon silver or bronze; yet we find by the above demonstration
+that sovereigns and half-sovereigns yield almost _the worst wages_ to
+the men, for the sums specified are divided amongst the whole body of
+them, who probably number now, as when I left the Mint, 27 men and
+11 boys. The contrast is stronger if the payment for _florins_ be
+compared with that for THREEPENCES, which, with a tithe of the labour,
+yield just _double_ the remuneration. The Reporters give a reason
+why they altered the system, which after I have pointed out the above
+facts, will seem to be curious. They state that the _inequalities of
+wages_ induce “the improvident to contract liabilities, and, on the
+other hand, the more skilful workmen are induced to accept employment
+elsewhere, and the Mint loses their services.” In my own experience,
+the men prefer regular wages of a smaller amount to an irregular income
+of greater value, because they can then regulate their household
+expenses and save money by fixed weekly sums, but that this reason
+never entered the heads of the Reporters is manifest from their own
+admission. They urge “_this arrangement_ because _an average saving
+of £100 a year will be effected_,” which saving is to come out of the
+pockets of men already underpaid. I would say to the Reporters, “Muzzle
+not the ox that treadeth out the corn.”
+
+The total cost, then, of producing a sovereign in 1857 under proper
+management was 0·174_d._, while under Mr. Graham’s system it would
+appear to have been 0·311_d._ in 1864. If, however, the facts be
+examined, and stripped of the sensational effect of the cost of one
+coin, it will be found that the difference is far from infinitesimal,
+for whereas the total absolute cost per 1,000, inclusive of everything,
+was 14_s._ 4¼_d._ in 1857, it had reached £1 5_s._ 11¼_d._ in the
+years 1864-66 (see page 117). The increased expense thus incurred
+amounts to 11_s._ 7_d._ on each 1,000 coins, or, on the whole amount
+of that coinage, to £3,280 4_s._ This, then, is the state of cost at a
+selected period, when a large amount was coined weekly. But what would
+have been the cost had it been taken on the total coinage? For then
+we should have found an increase in the amount per 1,000 pieces for
+salaries and contingent expenses, whereas the figures for 1857 include
+the whole coinage—beginning, middle, and ending; so that the average
+produce of coins per week, although appearing to be smaller than that
+of 1864, is really far greater, for whereas the largest number reached
+in any one week in 1864 was 585,899[97] pieces, in 1857 the largest
+number in any one week was 915,506[98] pieces, or larger by 329,607
+pieces, the average per week being 17,253 pieces less, because the
+coinages of 1864-1866 referred to, do not contain the beginning and
+“tailing-off” of the coinage; in simple fact, they are figures written
+_for effect, not for information_. That the complete coinage costs
+more for salaries and contingent expenses is self-evident, because
+those expenses remain the same if no coins be struck, but that this
+is a fact is demonstrated by the little coinages of 1858 in the same
+table,[99] where it will be seen that, although the payments for wages
+nearly approach the cost of 1857, the cost for salaries and contingent
+expenses is greater than it was in 1864. Another point is here also
+proved to demonstration—that whereas the loss by coining is clearly
+proved to be unnecessary, the late Master of the Mint states it at
+6_s._ per 1,000, or £300 per million coined. That this should have
+been so stated is of ill omen,[100] for when the belief of Mr. Brande
+and his colleagues led them to the conclusion that loss was necessary
+at a mean rate of £373 per million, they exceeded £500; and, by rule
+of proportion, we may expect the Mint to make, now that the belief of
+the late Master has found expression, a loss of £452.[101] Be this as
+it may, the difference between 6_s._ and 2_s._ 9½_d._ is sufficient to
+make men think, for even this trifle of 3_s._ 2½_d._ on 1,000 coins
+amounts to £908 2_s._ 6½_d._ on that single coinage. That the loss
+on the coinages of 1858 should be so great is explained by the fact
+that in a small coinage the first loss by gilding the machinery is as
+great as in a large one; but in the case of a great coinage this is so
+distributed over the mass as not to appear. Had it been determined,
+however, to exhibit the actual facts by the system of selection
+followed by others, not only would this loss of metal have disappeared,
+but a gain would have been shown, for on those particular coins there
+was an actual gain of 1·39 ounces, which is at the rate of £9 18_s._
+10½2_d._ per million coined, or 2·386_d._ per 1,000 pieces coined, so
+reducing the cost of these actual coins to £1 0_s._ 10½_d._ and £1
+1_s._ 6_d._ per 1,000 respectively; but as these matters are dwelt upon
+for information alone, it is preferred to place the fair proportion of
+the loss on this coinage on this portion of it. It should be observed
+that the contingent expenses for 1857 do not include £1,100 voted for
+the new files,[102] because that sum was never appropriated to that
+purpose; but that they do include the subsistence paid to the men, and,
+indeed, every possible sum other than weekly wages paid to the men by
+the piece-work scale above quoted. I have not questioned, nor have I
+investigated, the figures used by the late Master of the Mint, for as
+he wrote those papers, and invited the Signatories to give their names
+after the copies were fairly made, it is but just to suppose that that
+gentleman satisfied himself of their accuracy.
+
+[Footnote 97: See Report by Commissioners on International Coinage, p.
+93.]
+
+[Footnote 98: See the Mint Books.]
+
+[Footnote 99: See page 117.]
+
+[Footnote 100: See page 125.]
+
+[Footnote 101: See page 129.]
+
+[Footnote 102: See pages 44, 179.]
+
+The Chancellor of the Exchequer has proposed to reduce the value of
+the gold coinage by removing one grain of gold from the sovereign, a
+reduction of 0·81119 per cent, of its value. This matter has been so
+fully discussed, and its error so completely demonstrated, that little
+need be here said; but there is one consideration which should not be
+omitted. The new standard of value, for such it will be, will be worth
+only its value in gold immediately after it has quitted our shores. To
+travellers, therefore, it is a tax of about one per cent., for each of
+Mr. Lowe’s pounds will fetch but 19_s._ 10_d._, and, whether the coins
+be exchanged here or abroad, the reduction must be borne; whereas, if
+it were determined to charge the _importer_ for the cost of coining,
+and for that alone, no tax could fall on individuals—a system which
+must be unjust, and the coin would, by this burden, be restricted in
+its power of sale as bullion, so small a sum as one-eighth of one per
+cent. having frequently determined the sending of coin rather than
+of bullion, because, when the exchanges are nearly equal, merchants
+thus save the cost of assaying, which, inclusive of loss of interest,
+&c., amounts to 2_s._ 6_d._ per £100. To fix, then, the sum proper
+to charge for the coining of gold is practically a simple matter, if
+it be desired, as should be the case, to protect our coinage from
+conversion into bullion, to the profit of special merchants, but to the
+loss of the nation. In the following proposition the exact cost can be
+determined, and that should be the maximum limit of a Mint charge or
+_mintage_, for if that charge be so enlarged as to insure a profit, the
+fears of Mr. J. G. Hubbard as to the illicit coiners relieving the Mint
+may be expected to be realised.
+
+Between April, 1855, and December, 1865, £59,581,957 were coined, or
+an average of £5,958,195 in each year. If, however, six millions be
+accepted as the average yearly coinage of gold, it will give data for
+the following calculations.
+
+That the cost of coining may be always the same, let there be
+thirty-six efficient workmen and twelve boys, and let these be paid
+for wages in the following manner:—To each man £1 a week, whether at
+work or not, and to boys a sum beginning at 14_s._ per week, to be
+increased 1_s._ per week for each additional year of service, until the
+age of twenty be reached, when they should receive the same sum of £1
+as is paid to the men, but the “rating as men” should be stopped till
+a vacancy occurs, that the number of men, inclusive of melters, shall
+not exceed thirty-six, as then no injustice will be done the men, and
+the boys are sufficiently provided for to enable them to wait. When,
+however, work is in progress I would pay for piece-work as follows; for—
+
+                             £
+    Sovereigns             0·806 per 100 lbs. troy of coined money.
+    Half Sovereigns        1·571      ”               ”
+    Florins                0·555      ”               ”
+    Shillings              0·800      ”               ”
+    Sixpences              1·348      ”               ”
+    Threepences            2·330      ”               ”
+    Bronze pence           7·500 per ton of coined money.
+      ”    halfpence      10·000      ”            ”
+      ”    farthings      15·000      ”            ”
+
+This sum should be divided by a simple system equally amongst the
+workpeople, so that men should take one whole share, boys who have
+served more than three years and a half two-thirds of a share, and boys
+of less service than three years and a half one-third of a share. When
+the fair share of piece-work exceeds the permanent amount of fixed
+wages, that sum should be deducted from the total sum allotted to each,
+so that the permanent wages would become a fixed charge secured on the
+piece-work to be performed. This being performed intelligently, each
+workman would participate in the benefit, therefore each would do his
+best; whereas no increase can take place in the cost of production, for
+any carelessness in the various operations simply causing so much waste
+labour, would bring no remuneration, and the wages would thus bear
+proportion to the anxiety incurred and be equalized.
+
+To pursue, then, this proposition further, it will be convenient to
+assume that 420,600 sovereigns are coined per week, this being a fair
+average amount to take if the complete coinage be conceived to be
+6,000,000 of finished coin. In such a case fourteen weeks would be
+required to effect the operation, and its total cost will stand thus:—
+
+                                               £
+    For assays by out-door assayers          998·4
+     ”  wages to workmen                   1,035·0
+     ”  salaries and contingent expenses   2,843·0
+     ”  loss of metal by coining           1,200·0
+                                          --------
+                                          £6,076·4
+
+In estimating salaries and contingent expenses the estimates of 1857
+have been taken, because the pressure for bronze has passed away,
+and the establishment has, it is supposed, gone back to its then
+dimensions. At that period it was usual to estimate the cost of coining
+gold, inclusive of assaying, at the rate of one-sixth per cent. In
+the above calculations the cost of assaying is included, as well as
+the salaries and contingent expenses, from which, however, has been
+deducted the fixed wages paid to the workpeople for fourteen weeks,
+because they are supposed to have been earned as piece-work.
+
+Allowance at the extravagant rate of £200 per million coined is also
+made for loss of metal by coining, so that under this proposition the
+total cost of producing six millions of coined gold becomes £6,076·40.
+This must be the absolute sum, for the cost of dies, police, &c.,
+is included in the amount for salaries and contingent expenses; it
+therefore follows that each £100 would cost for manufacture £0.101273,
+or about 2_s._ 0¼_d._ Here, then, are exhibited the grounds on which
+the calculations are based, and unless there are errors on the face of
+the figures it is demonstrated that the total cost of coining, even
+with an extravagant estimate, may be reduced to about one-tenth of one
+per cent. Why, then, should a profit of nine-tenths of one per cent.
+be desired or granted? If an ultimate decision should be formed to
+charge £1 for each thousand sovereigns coined, a stimulus will be given
+to the Mint authorities to investigate the cause of their losses, the
+means whereby these may be stopped, and to how great an extent useless
+officers may be parted with, thus to make a minute but legitimate
+saving out of the allowance, for there is no substantial reason why we
+should coin free of charge; nor, on the other hand, is it right that
+the cost of that operation should fall on the tax-payer, while a just
+rate for mintage would, unless under very exceptional circumstances,
+protect the coinage from illegitimate conversion into bullion, for it
+must be remembered that there is already in reality a tax of 1½_d._ per
+ounce for the conversion of bullion into coin, paid by the _importer_
+to the Bank of England, and the charge for mintage will be in addition
+to that tax.
+
+A very strong reason against an exorbitant charge may be found in
+the fact that the French Mint is content to fix its rate at about 6
+francs 70 centimes for each kilogramme of their standard gold, which
+is coined into pieces of the value of 3,100 francs, or about 0·216129
+per cent., say 4_s._ 3¾_d._ for each £100 coined, and this under a
+system of contract which gives a profit to the contractors, so that it
+becomes clear, coining is practically done AT A FIXED RATE IN FRANCE,
+that rate being above the actual cost of our coinage in 1857, but below
+the charge proposed by the Chancellor of the Exchequer by six-tenths
+of one per cent., irrespective of the deduction of 1½_d._ per ounce
+made at the Bank when gold is bought.[103] This being the case, it is
+reasonable to suppose that all the gold for coining will go to France;
+whereas, if it be desired to convert the coin of France into _our
+proposed debased coinage_, each £1,000 so converted will produce but
+£990·275, because the 1½_d._ per ounce is equal to 0·16051 per cent.,
+and to this tax is added 0·81119 per cent. by the deduction of the
+one grain proposed by the Chancellor of the Exchequer, for it must be
+understood that the coined money of France will still be treated as
+bullion. Perhaps a still plainer view of the case may be obtained, if
+it be assumed that a man has a million pounds’ worth of gold, which,
+for cheapness’ sake, he gets coined in France, where he will pay
+£2,161·29 for coining it. Circumstances, however, make it desirable
+that this million in French gold coins should be converted into coin
+of the British standard as coined at the Royal Mint, where the owner
+will find that, for the conversion of his bullion, he has to submit to
+a deduction equal in value to £9,725, which, added to the sum charged
+in France for the first coining, makes a total of £11,886·29. How many
+persons will be willing to sacrifice such a sum for the convenience
+of others? The result must be that, unless under the most exceptional
+circumstances, no gold except for currency can be coined in England,
+it will inevitably be sent to France, because coined gold will there
+always be 0·81119 per cent. more valuable than in England.
+
+[Footnote 103: Sec pages 3, 127.]
+
+In discussions recently earned on in the newspapers, the liability
+of gold coin to be sifted of its pieces which are heavier than the
+theoretical standard has been a good deal dwelt upon; but there is one
+view which, perhaps, has not occurred to those who are unacquainted
+with the manufacturing details. It is true, then, that the standard
+weight of a sovereign deduced from its proportional weight to 20 lbs.
+troy is 123·274478 grains, and that this piece may vary so far in
+weight as to be either too light or too heavy by no less than 0·2000
+grain, and yet be a perfectly legal tender. With careful manufacture
+the coins issued should be so apportioned that there shall be half
+the number on the light and the other half on the heavy side of the
+standard weight.[104] By referring to the papers furnished for the
+guidance of the jury at the trial of the pyx it will be found that the
+gold coins reported on at the last two trials were on the light side of
+the theoretical weight, for those submitted to trial in 1861 were by
+number 24,655,335 pieces, and weighed only an equivalent to 24,654,849
+sovereigns, consequently the Bank of England received exactly £486
+more in coined moneys than their bullion was worth; therefore this
+was a profit to that Institution. And on the occasion of the trial
+which took place in 1866 there were by number 34,927,188 pieces, which
+weighed only an equivalent to 34,927,008 sovereigns, so that the Bank
+gained exactly £180. These facts demonstrate the fairness with which
+the Mint coins and issues its coined moneys, not in accordance with
+the letter, but with the spirit of the law which governs its actions;
+yet the evidence thus given is to the effect that the bulk of the
+coins are on the light side. The current weight of the sovereign, as
+authorised by Act of Parliament 33 Vict., cap. 10, and published in
+the _London Gazette_, 12th August, 1870, is 122·50 grains, and below
+this weight the Bank of England will not receive it in payment of
+twenty shillings; but the half-sovereign, being a coin of convenience,
+is allowed to circulate till its weight, has fallen to 61·125 grains,
+below which it is not received at the Bank in liquidation of a debt
+of ten shillings. Thus, then, while a sovereign may be legally coined
+so that its weight may be either 123·474478 grains or 123·074478
+grains, it is still permitted to circulate, and is a legal tender at
+the current weight of 122·50 grains, or a difference of 0·574478 grain
+below the minimum weight permitted by the New Coinage Act for its issue
+from the Mint. If, as will be found to be the case on an average of
+years, the rejected coins by weight amount to 16 per cent. when the
+remedy is 0·20 grain, and to 9 per cent. when the remedy is 0·25 grain,
+it is evident that the chance of obtaining profit by picking coins
+is not greater than 3·5 per cent., because the difference between a
+fifth and a quarter of a grain makes an increase of 7 per cent., and
+of these rejected pieces rather less than half are on the heavy side,
+because, as has been shown, the whole deliveries to the Bank of England
+are on an average light pieces; therefore it will be perfectly safe
+to consider that each hundred sovereigns contain at the extreme three
+coins which may be two-tenths of a grain heavier than the standard
+weight of 123·274478 grains; but it is by no means certain that any
+hundred pieces would contain one single coin heavy by this amount
+even if the remedy were made to be 0·25 grain, because the automaton
+balances of Mr. Cotton are so accurate as never to permit the issue of
+pieces beyond the limits assigned, and any piece which at its passage
+through the machine equalled the maximum weight would be, and is,
+inevitably reduced—infinitesimally, if you will—in weight, by abrasion
+against other pieces in the act of falling, as well as when put into
+its bag previously to going to the Bank of England. When the remedy was
+0·30 grain the case was different, but it may now be assumed that it is
+impossible for any one to make profit by selecting heavy pieces,—this
+irrespective of the fact that the bankers find it worth their while
+to select heavy pieces for transmission to the Bank of England,
+because they then obtain the coins which are of current weight, yet
+not intrinsically worth twenty shillings;—whereas the recent public
+discussion makes it appear that it is worth the risk to certain unknown
+individuals in Brussels to buy our newly-coined sovereigns, pick from
+them such as exceed 123·274 grains, and melt them into ingots for sale
+as bullion, and return to us the light pieces. The only modes by which
+it pays such persons to buy new sovereigns for the purpose of such
+gain is to shake them together in canvas bags, or to submit them to
+the electrotype process—as is often done by chemical students—and by
+these means obtain from each a specific amount of gold, sending the
+sweated coins into circulation, having reduced each of them to the
+lowest current weight by a very short rough usage. It is different when
+coins, instead of being individually weighed, are simply _pounded_,
+that is, weighed _en masse_, just to determine that a certain number
+are in a given weight: in such circumstances many coins most unequable
+may be issued, as was the case when silver coins were thus treated in
+the Royal Mint in August, 1864, against all sound principles. At that
+period the then Master, under false notions of economy,[105] determined
+not to weigh individual pieces of silver money, because silver coins
+were mere tokens, but when coins bearing the device of FLORINS, and
+ranging in intrinsic value from 1_s._ 6_d._ to 2_s._ 9_d._ irrespective
+of extrinsic worth, were returned to the Mint, this economy was soon
+abandoned.
+
+[Footnote 104: See pages 39, 73.]
+
+[Footnote 105: See page 71.]
+
+I have dwelt at considerable length upon the losses incurred by
+the coining of gold; such losses I now find are defended by high
+authorities, but I hope some effort may be produced by my words, yet
+not mine only, for I will quote those used by Mr. Graham in his letter
+to the Treasury[106]:—
+
+[Footnote 106: See page 178.]
+
+    “This gives in a million coined a net loss of £257 7_s._ 0¾_d._;
+     ... but after making allowance for the circumstances just stated,
+     the loss of gold in melting remains higher, in my opinion, than it
+     ought to be; and it will, I trust, be found to admit of some
+     further reduction in future years.
+
+    “A correct estimate of the whole waste in coining is obtained by
+     combining the returns of the two departments:—
+
+                                     £  _s. d._
+    Loss of melting department      257  7  0¾ per million.
+    Surplus of coining department    50 13  0        ”
+                                    -----------
+                 Difference         206 14  0¾       ”
+
+    It thus appears that in 1858-59 the net loss in minting £1,000,000
+    of gold was £206 14_s._ 0¾_d._’
+
+He then proceeds to show that “the loss on the gold coinage for the
+(_then_) last three years was £172 8_s._ 11½_d._,” yet Mr. Fremantle’s
+return to the House of Lords No. 30, 1870, shows a loss of £464 as the
+average in the last three years, and he in “European Mints,” uses these
+significant words: “The waste shown to have existed of late years in
+the English Mint has not been excessive.”
+
+I reproduce these words because the Chancellor of the Exchequer has
+accepted contracts for coinages for foreign countries, and I propose to
+study the matter in relation to his probable profit.
+
+With such losses accruing as are here exhibited, it appears to be a
+step worthy only the present Chancellor of the Exchequer to advertise
+for coinage contracts for foreign countries. At what price will they
+be granted to him? It is perfectly clear that, to make a profit, he
+must charge more than it will cost, so it will be well to examine his
+chance of success. We may assume that it will cost him 2_s._ 6_d._ to
+coin £100 in sovereigns as the expenses of salaries, wages, and loss;
+in addition to these he will find it necessary to pack his coined money
+for exportation, whither he must pay carriage, insurance, &c. Should he
+feel that he need not charge for wear and tear of machinery, he must
+still remember that it will require renewal at intervals, and every
+expense must be included in a total sum of 4_s._ 3¾_d._, or the foreign
+contractors (whom he was sanguine enough to suppose would give him
+information) will be sure to beat him in the tender for the contract.
+As to silver, it is already certain that his loss by coining would
+alone make any profit hopeless even to a Chancellor of the Exchequer
+who knows how to get five quarters’ taxes in one year. Lord Kinnaird
+has shown that the Mint loses by manufacturing silver coin, by sheer
+loss of metal, at the rate of 3_s._ 9¾_d._ for each £100 coined (see
+page 146), and in addition to this tax he has to pay 1_s._ 9_d._ for
+each 1,000 coins manufactured for labour, besides the contingent
+expenses, including packing, insurance, &c. All expenses must come
+within 15_s._ for each £100, because this is the sum at which the
+foreign contractors gladly accept coinages. While saying thus much, it
+has been necessary to reserve facts which would be indispensable to a
+contractor, because such information should be rendered to a contractor
+only on terms such as another would be willing to offer for it, and to
+publish it here would be hardly fair to those whose business it is to
+live by coining.
+
+The Royal Mint, suffering thus from faults which its officials profess
+themselves unable to remedy, it seems an eccentric proceeding that
+while the Government Institution bears good-naturedly all the loss, the
+Bank of England should obtain all the profit, “as a set-off against
+the stock of bullion it is compelled to keep.” It is to be remarked
+that the Chancellor of the Exchequer stated that it was “necessary to
+expedite the coining of gold, because it bears interest while under
+coinage,” thus exhibiting an absence of knowledge, for the Mint pays no
+interest. It is no concern of the Bank whether its bullion be reserved
+as ingots or coin, because it is compelled by Act of Parliament to keep
+a specified amount to meet the excess issue of its notes, and this
+circumstance alone enables the Bank of England to coin gold without
+loss of interest—gold at the Mint is still considered as reserved by
+the Bank. So far, indeed, from the Bank losing money by importing gold
+for coming, it makes a clear profit, as is shown by the following
+figures—this even under its new system of assay—
+
+             BANK OF ENGLAND PROFIT.
+
+    By the charge of 1½_d._ on each ounce of gold   £1605·100
+    By the system of absorbing assay fractions        166·666
+    By the turn of the scale on purchase               71·339
+                                                    ---------
+        On each million coined                      £1843·105
+
+Nor is this all; for the Bank exacts from the Mint the last ounce
+or fraction of an ounce of all it sends, and besides receives gold
+invariably coined on the light side of the standard, to the average
+extent of £11·50, and makes an additional profit by the turn of the
+scale, which gives them from the Mint £75 on each million, so that
+their total gain comes to be £1,929 12_s._ on each million sent to the
+Mint for coining, that Department good-naturedly finding alloy into the
+bargain. That I do not exceed the facts of the case would seem to be
+conclusively proved by Messrs C. W. Fremantle and C. Rivers Wilson, for
+those gentlemen in their Reports state the amount at £3,458, and affirm
+(see Reports on the Mint, page 4) that on £5,000,000 the Mint would
+make a profit of £8,000. How they reconcile their figures I do not
+know, for by their own showing it should be £17,290. They had better
+accept my figures, which would produce a profit of £9,648 on the same
+amount.
+
+I feel that I have produced sufficient evidence to oblige me to
+withdraw the opinion I have hitherto held, and which I thus expressed—
+
+    “If, as I can clearly show, the Mint can still be
+    advantageously retained under Government control, it would
+    appear to be a pity to place the coinage in the hands of
+    contractors, for it is evident that they must be paid such
+    a price as will yield them a profit, and this sum had
+    better be saved to the nation.”
+
+On the contrary, I now think it is the duty of the Government TO AT
+ONCE COIN BY CONTRACT, as the cost of such process will be definite,
+whereas it is now illimitable. Instead of the tax-payers paying for New
+Mint buildings, _which are not required_, contractors would gladly buy
+the present Mint just as it stands, and in three years amass colossal
+fortunes. If Mr. Lowe were to hand over the coinage of gold, silver,
+and bronze—by which the Government now loses so large a sum—for one
+year, with proper security, to an unofficial person, who should pay all
+the costs and reap all the profit, I am sure the annual vote for the
+expenses of the Mint and coinage may be remitted and the work will be
+better performed. At a period when the Government has seen fit to send
+Commissioners to European Mints to learn the mystery of coining, it
+seems a perversion of reason to adopt the opinions of those learners,
+and upon their recommendations build new Mint premises. I am aware that
+it is thought by the sanguine that the old Mint site will sell for a
+vast sum, which will pay for the new site; but is it in the experience
+of the public that such transfers are made without loss? Indeed the
+probability of vast expense is so great that it becomes a settled
+question. The Commissioners—the chief of whom says,
+
+    “... While I must not be understood to be in a position to
+    offer positive recommendations on many points, and more
+    especially as regards machinery, while the question as to
+    the future site of the Mint is still pending, yet I trust
+    that I have shown the importance of the information which
+    we have acquired, and the possibility of applying it with
+    advantage to many Mint arrangements in this country”—
+
+recommend machinery and experiments with which two of their number are
+admittedly unacquainted, and their Reports show throughout that they
+are really writing upon subjects to which their minds have not yet
+become accustomed, and which consequently they cannot fully appreciate.
+Instead, therefore, of the Legislature building new premises on the
+advice of such officers, it will surely be wise to give the contract
+system a fair trial, say for a year, in accordance with the suggestion
+of Lord Kinnaird. It is not the premises, it is not the machinery, it
+is not the workpeople, but the utter want of experience in the chief
+officers that gives rise to the state of muddle and dissatisfaction
+amongst the officials, and causes loss of bullion, which does not go
+into the chimney, and other expenses which will not bear the light of
+day.
+
+Mr. Fremantle recommends new premises, on the ground that such should
+be built expressly for Mint purposes. The present Mint was so built,
+and is now capable, with very limited expenses, of adaptation. It would
+be cheaper to burn it down and rebuild the operative departments, than
+to remove it to another site, where the same want of experience will
+surely give rise to precisely similar evidences of mismanagement as now
+exist. It is because the Government prefers to put the wrong man in the
+wrong place—square men in round holes—that it is thought necessary to
+transfer the Mint, really that those gentlemen may be nearer their own
+comfortable homes and friends.
+
+The East End of London is recognised as a disagreeable part to dwell
+in; but the Mint is essentially a manufactory, and, as such, is not
+fitted for the westerly parts of the metropolis, and those who object
+to the neighbourhood should relinquish their offices. Would it be
+tolerated, if proposed, to remove the Enfield factory to the Thames
+Embankment, so that it “should be more immediately associated with
+the Treasury offices?” In its present site the Mint has supplied the
+coinage, and could issue multiples of its past productions; economy
+being the order of the day, why incur unnecessary expense?
+
+In the meantime, the old rule holds good—a bad workman complains of
+his tools; and those who demonstrate their inability to conduct the
+Mint in such manner as to derive the revenue which they admit should
+accrue and which they profess themselves unable to secure, should
+gracefully assent to place the matter in the hands of contractors till
+the Government shall see fit to put the department in the charge of
+some person who will practically develope the truth, instead of hunting
+in the chambers of the chimneys for that which they must know full well
+has left the Mint by another means.
+
+The Commissioners seem to have gone out of their way to show their
+want of knowledge on vital points in the manufacture of money. Thus
+Mr. Fremantle recommends the substitution of graphite for iron pots
+in silver melting, on the authority of Mr. Roberts, whose experience
+is expressed in these words—“Graphite crucibles permit of the total
+contents being poured into moulds, and this enables the accounts to be
+adjusted daily.” Truly the accounts may be _adjusted_ daily; but most
+commercial people object to _adjustment_, as that process commonly
+leads to a minus account, and frequently an employment of the detective
+police. To balance an account is a very different proceeding; but is
+it true that graphite crucibles expedite the process? No, it is not
+true, as witnessed by the table on page 102, where it will be seen that
+the amount of gold which is _not “poured into the moulds”_ varies from
+£1,132 down to £161, and has, at the last return, risen steadily to
+£461, although the gold referred to was MELTED IN GRAPHITE CRUCIBLES.
+At a later period I will show these facts in greater detail.[107]
+
+So much interest does not attach to the coining of silver as to the
+coining of gold; yet, as the amount of profit to be made by this
+coinage depends on the length of time which silver coins can be kept
+in circulation, it is necessary to consider whether the Royal Mint has
+at any time made, or does now make, so much profit as it should, and
+whether the coins when made are so manufactured as to be fit in the
+highest degree to bear the wear and tear to which it is intended that
+they shall be submitted. These questions, although they may appear
+to be of little interest, are really important, because the Mint, if
+properly managed, should, by its silver coinage, pay all its expenses,
+and by its bronze coinage, if the latter be discreetly conducted,
+render an actual profit to the Government. I propose presently[108] to
+touch upon the bronze coinage, when inquiry will demonstrate that this
+is conducted in such a manner as that a large per-centage of the fair
+profit is sacrificed annually.
+
+[Footnote 107: See page 136.]
+
+[Footnote 108: See page 162.]
+
+In those countries where silver is legally the standard of value the
+coins contain the amount of silver which is equivalent to a fixed sum
+of gold, and in all such cases, if silver should happen to rise in
+price, bullion merchants buy large quantities of new silver _coins_
+and export them, because these remain at a fixed price, although all
+other silver has risen in value. In England this contingency is avoided
+by giving to coined silver an _extrinsic value_; that is to say, by
+raising silver whose natural market price varies[109] between 5_s._ per
+ounce and 5_s._ 2_d._ per ounce to an artificial value of 5_s._ 6_d._
+per ounce when it is coined into money. It is the practice of the Mint
+to buy silver only when it is at its lowest market price, and then in
+parcels of the value of £50,000. Upon an average of years it is found
+that the profit thus accruing[110] should amount to about 8 per cent.
+Even with perfect management the whole of this 8 per cent. would not
+be secured, because all worn and light silver culled from circulation
+is returned to the Mint by the Bank of England for recoinage into new
+money, piece for piece, and many of the worn[111] pieces represent
+only half their original extrinsic value. What we call a shilling is
+intrinsically worth, when coined, about 10¾_d._, but when it is culled
+from circulation it is often worth only 6_d._, therefore a loss of
+4¾_d._ is incurred by re-coining it, quite independently of the labour
+and loss of metal. It should, however, be stated that the Mint makes
+a small profit by receiving the unreported fractions as well as the
+excess of weight[112] invariably given when ingots are purchased. In
+France the five-franc piece is coined so that it contains its intrinsic
+value, the importer paying 75 centimes for each 100 francs in value.
+Since this sum yields a profit to the contractor, we may be certain
+that it covers every possible expense of production. If this cost be
+proportioned to our money, it will appear to be at the rate of 15_s._
+for each £100. Let us see, then, if the silver coinage of Great Britain
+is produced at so cheap a rate as is that of France, and this shall be
+determined by discussing the unnecessary losses which are permitted, in
+a similar manner to, but less elaborately than, that adopted for the
+gold coinage. The tables which will be exhibited are those given me by
+the late Master of the Mint, under precisely the same circumstances as
+described when speaking of the tables relating to gold. I will then
+briefly treat of these losses as they were, as they are, and as they
+should be. Those who are habituated to the working of gold feel, when
+that work ceases, a kind of relief, which is perhaps natural if the
+relative value be considered. The Mint, then, suddenly changes from
+this metal to one of just about a fourteenth of its value, for to the
+Mint people gold at £3 17_s._ 10½_d._ is as 14·16 is to 1 of silver,
+which they view as of a value of 5_s._ 6_d._ per ounce; again, it
+is more bulky and unmanageable. These causes are to be admitted to
+their full share of importance, but should not induce us to accept
+them in explanation of facts which are not otherwise reasonable, and
+such seems to be the case with silver in the Royal Mint. Mr. Seyd, in
+his admirable work on Bullion and Exchanges, at page 560 says, “We
+should like to see a return moved for in Parliament of the wasteage
+of gold at the British Mint from 1850 to the present year; it might
+show whether there has not been at certain periods of the management
+of the operative department much less loss than at others, and whether
+there has not been occasionally a small gain even, as there certainly
+ought to be with proper management.” Mr. Seyd has shown himself a
+master of the subject he has undertaken, and perhaps the facts stated
+in the earlier pages of this book may reply to some of his questions.
+He then proceeds to say, “A return of the wasteage of silver might
+also prove interesting, as well as an account of the imperfect work
+returned to the melting-pot during each year.” When an author who has
+so successfully studied a subject invites such information, one can
+but feel that it is wise to give some details. I propose, however, to
+give only such facts as will bring us up to the year 1861, because the
+following years vary but little, and if I were to give another eight
+years it would require more space than it is deemed wise to occupy.
+
+[Footnote 109: See page 152.]
+
+[Footnote 110: See pages 146, 152.]
+
+[Footnote 111: See pages 65-67, 152, 155, 156.]
+
+[Footnote 112: See pages 127, 137-138.]
+
+In the following tabular statements will be found every particular
+relating to silver arranged in a precisely similar manner to the facts
+regarding gold, and it is hoped that they are given with sufficient
+clearness to render unnecessary a lengthy explanation. I have given
+other details at pages 136-142.
+
+In explaining the table on page 132 it should be noted that the £1,315
+9_s._ 4_d._, given as the value of the loss per million in 1852-53,
+is not the true value, for, as in the case of gold, the account of
+the loss was not kept. The loss of those years is, therefore, reduced
+by sharing it with the coined money of the financial years, June,
+1851, to March, 1853; if this sum be, as it should be, excluded, the
+loss will be £1,695 17_s._ 6½_d._ The same allowance must be made for
+the melting-house account in the table on page 134, when that sum
+will become £1,375 12_s._ 4¾_d._ instead of £1,067 0_s._ 11¼_d._ It
+is deemed fair to reduce this loss as far as possible; therefore the
+whole sum coined between June, 1851, and March, 1853, has been made
+to bear the one loss of these 1845·449 ounces. The same test being
+applied to these tables as was applied to that relating to gold,[113]
+it will be found that the average loss by coining silver between June,
+1851, and March, 1857, was £1,013 11_s._ 2¼_d._, whereas in the next
+period, between April, 1857, and March, 1860, it fell to £365 15_s._
+10½_d._ This reduction then shows that the former loss, taken at its
+lowest, gives evidence of _unnecessary_ wasteage to the extent of
+£647 15_s._ 4_d._ on each million coined; but this sum is not that
+shown by the Mint books, for, as above stated, it is below the truth.
+Great, then, as were the amounts missed, we shall find them far greater
+if the state of the melting-house be considered, and to do this is
+necessary, because it was asserted that the loss was arrested in the
+coining department by sending more oil and dirt to the melting-house.
+Let us then see how this stands in regard to the truth, for while in
+the period 1851 to 1857 the oil literally _dropped from the scissel
+and drained through the trucks on to the floor_, in the latter period
+the trucks were not soiled, and the use of oil in the rolling room was
+rigidly prohibited, while in the drag room only so much as was required
+to lubricate the fillets at the drag bench was permitted to be used,
+and this was as far as possible removed by careful wiping with cotton
+waste. It is also a fact that whereas there had been an HABITUAL LOSS
+in the rolling and drag rooms when oil was used very largely, there
+was now a GAIN IN BOTH ROOMS; in the former to the extent of one in
+ten thousand ounces wrought, and in the latter to the extent of two in
+ten thousand. These facts must be of importance while considering the
+following statement (see page 134).
+
+[Footnote 113: See page 88.]
+
+STATEMENT SHOWING THE AMOUNT OF SILVER COINED AND OF THE LOSS ATTENDING
+IT IN THE COINING DEPARTMENT.
+
+    +--------------------------+-------------+-------------------+
+    |   Date—Financial Year.   |  Weight of  | Value of Coinage. |
+    |                          |   Coinage.  |                   |
+    |                          |             |                   |
+    +--------------------------+-------------+-------------------+
+    |                          |   Ounces.   |     £   _s.   d._ |
+    | June 1851 to March 1852  |  314689·050 |  86,539  9    9¼  |
+    | April 1852 to March 1853 | 1088196·550 | 299,254  1    0¼  |
+    |   ”   1853      ” 1854   | 2135071·750 | 587,144 14    7½  |
+    |   ”   1854      ” 1855   |  501459·800 | 137,901  8   10¾  |
+    |   ”   1855      ” 1856   | 1138355·000 | 313,047 12    6   |
+    |   ”   1856      ” 1857   | 1792800·000 | 493,020  0    0   |
+    |   ”   1857      ” 1858   | 1420560·000 | 390,654  0    0   |
+    |   ”   1858      ” 1859   | 1449360·000 | 398,574  0    0   |
+    |   ”   1859      ” 1860   | 2052720·000 | 564,498  0    0   |
+    | March 1861 to June 1861  |  650160·000 | 178,794  0    0   |
+    +--------------------------+-------------+-------------------+
+    +--------------------------+----------------+---------------------+
+    |   Date—Financial Year.   | Amount of Loss | Value of the Silver |
+    |                          |   by Coining.  |        Lost.        |
+    |                          |                |                     |
+    +--------------------------+----------------+---------------------+
+    |                          |    Ounces.     |    £   _s.   d._    |
+    | June 1851 to March 1852  |                |                     |
+    | April 1852 to March 1853 |   1845·449     |    507  9   11½     |
+    |   ”   1853      ” 1854   |   2943·025     |    809  6    7½     |
+    |   ”   1854      ” 1855   |    657·362     |    180 15    5¾     |
+    |   ”   1855      ” 1856   |   1632·957     |    449  1    3¼     |
+    |   ”   1856      ” 1857   |   2191·367     |    602 12    6¼     |
+    |   ”   1857      ” 1858   |    910·264     |    250  6    5½     |
+    |   ”   1858      ” 1859   |    834·679     |    232  0    2¾     |
+    |   ”   1859      ” 1860   |    898·837     |    247  3    7¼     |
+    | March 1861 to June 1861  |   1357·375     |    373  5    5½     |
+    +--------------------------+----------------+---------------------+
+    +--------------------------+-----------+-------------+-------------+
+    |   Date—Financial Year.   |  Value of |Lost Silver  |   Sweep     |
+    |                          |Sweep Sold.|per Million  | per Million |
+    |                          |           |  Coined.    |   Coined.   |
+    +--------------------------+-----------+-------------+-------------+
+    |                          | £  _s. d._| £    _s. d._|  £  _s. d._ |
+    | June 1851 to March 1852  | 31 12  8  |             |             |
+    | April 1852 to March 1853 | 90  4 10½ |1,315  9  4  | 315 18  3   |
+    |   ”   1853      ” 1854   |160 12  4  |1,378  8  4¾ | 273 11  1¼  |
+    |   ”   1854      ” 1855   | 69 19  2¼ |1,310 17 11  | 507  6  3¼  |
+    |   ”   1855      ” 1856   |104  5  7½ |1,434  9  9¼ | 333  3  3¾  |
+    |   ”   1856      ” 1857   |149 10  9¼ |1,223  6  3¾ | 303  6  2¾  |
+    |   ”   1857      ” 1858   | 98  1 10  |  640 15  6¾ | 251  1 11   |
+    |   ”   1858      ” 1859   |125  8  4  |  582  2  1  | 314 13  3¼  |
+    |   ”   1859      ” 1860   | 10 18  3  |  437 17  6¼ |  19  6  7¼  |
+    | March 1861 to June 1861  | 24 14  4½ |2,087 14  6¼ | 138  5  0½  |
+    +--------------------------+-----------+-------------+-------------+
+
+    To obtain the true amount of loss or waste, deduct the value of the
+    sweep from the value of the silver lost.
+
+RETURN FROM THE ROYAL MINT TO AN ORDER OF THE HOUSE OF LORDS, DATED
+17TH FEBRUARY, 1870. (THE LORD ROSSIE.)
+
+COINING DEPARTMENT.
+
+    A STATEMENT of the Weight and Value of the Silver
+    Moneys coined in each Financial Year from 1851 to 1869
+    inclusive, exhibiting the Weight and Value of the Loss or
+    Waste sustained in each Year, as well as the Value of Sweep
+    recovered, and the average Proportion of such Loss or Waste
+    and Sweep recovered to each Million Pounds Sterling coined.
+
+    +-------------------------+-----------+-----------------+---------+
+    |          Date.          | Weight of |Value of Coinage.|Amount of|
+    |                         | Coinage.  |                 |  Waste. |
+    +-------------------------+-----------+-----------------+---------+
+    |                         |  Ounces.  |      £   _s. d._|  Ounces.|
+    |August 1851 to March 1852| 314689·050|   86,539  9  9  |         |
+    |April 1852 to March 1853 |1088196·550|  299,254  1  0  | 1845·450|
+    +-------------------------+-----------+-----------------+---------+
+    |  ”   1853      ”   1854 |2134891·750|  587,095  4  8  | 2943·025|
+    |  ”   1854      ”   1855 | 501459·800|  137,901  8 11  |  657·362|
+    |  ”   1855      ”   1856 |1138355·000|  313,047 12  6  | 1632·957|
+    |  ”   1856      ”   1857 |1792800·000|  493,020  0  0  | 2191·367|
+    |  ”   1857      ”   1858 |1420560·000|  390,654  0  0  |  910·264|
+    |  ”   1858      ”   1859 |1449360·000|  398,574  0  0  |  843·679|
+    |  ”   1859      ”   1860 |2052720·000|  564,498  0  0  |  898·837|
+    +-------------------------+-----------+-----------------+---------+
+    |  ”   1860      ”   1861 | 625714·000|  172,071  7  0  |         |
+    |  ”   1861      ”   1862 | 769680·000|  211,662  0  0  | 1032·502|
+    |  ”   1862      ”   1863 | 532147·610|  146,340 11 10  |         |
+    |  ”   1863      ”   1864 | 835920·000|  229,878  0  0  |  811·466|
+    +-------------------------+-----------+-----------------+---------+
+    |  ”   1864      ”   1865 |1936800·000|  532,620  0  0  | 1100·169|
+    |  ”   1865      ”   1866 |1880640·000|  517,176  0  0  |  906·407|
+    |  ”   1866      ”   1867 |1739520·000|  478,368  0  0  |  891·389|
+    |  ”   1867      ”   1868 | 961200·000|  264,330  0  0  |  473·724|
+    |  ”   1868      ”   1869 | 597600·000|  164,340  0  0  |  280·764|
+    +-------------------------+-----------+-----------------+---------+
+    +-------------------------+------------+--------------+
+    |          Date.          |  Value of  |Value of Sweep|
+    |                         |   Waste.   |  recovered.  |
+    +-------------------------+------------+--------------+
+    |                         | £  _s.  d._|  £  _s. d._  |
+    |August 1851 to March 1852|            |              |
+    |April 1852 to March 1853 |507  10  0  | 121 17  6½   |
+    +-------------------------+------------+--------------+
+    |  ”   1853      ”   1854 |809   6  8  | 160 12  4    |
+    |  ”   1854      ”   1855 |180  15  6  |  69 19  2¼   |
+    |  ”   1855      ”   1856 |449   1  3  | 104  5  7½   |
+    |  ”   1856      ”   1857 |602  12  6  | 149 10  9¼   |
+    |  ”   1857      ”   1858 |250   6  5  |  98  1 10    |
+    |  ”   1858      ”   1859 |232   0  3  | 125  8  4    |
+    |  ”   1859      ”   1860 |247   3  7  |  10 18  3    |
+    +-------------------------+------------+--------------+
+    |  ”   1860      ”   1861 |            |              |
+    |  ”   1861      ”   1862 |283 18  9   |  46  7  1½   |
+    |  ”   1862      ”   1863 |            |              |
+    |  ”   1863      ”   1864 |223  3  1   |     Nil.     |
+    +-------------------------+------------+--------------+
+    |  ”   1864      ”   1865 |302 10 11   |  15  6  7    |
+    |  ”   1865      ”   1866 |249  5  3   |  16  9  4    |
+    |  ”   1866      ”   1867 |245  2  8   |     Nil.     |
+    |  ”   1867      ”   1868 |130  5  6   | 121  3  3½   |
+    |  ”   1868      ”   1869 | 77  4  2   |     Nil.     |
+    +-------------------------+------------+--------------+
+    +-------------------------+------------------+------------------+
+    |          Date.          |Value of Waste per|Value of Sweep per|
+    |                         |    £1,000,000.   |   £1,000,000.    |
+    +-------------------------+------------------+------------------+
+    |                         |        £  _s. d._|      £   _s. d._ |
+    |August 1851 to March 1852|                  |                  |
+    |April 1852 to March 1853 |     1,315  9  5  |     315  18  1   |
+    +-------------------------+------------------+------------------+
+    |  ”   1853      ”   1854 |     1,378 10  9  |     273  11  7   |
+    |  ”   1854      ”   1855 |     1,310 18  1  |     507   6  3   |
+    |  ”   1855      ”   1856 |     1,434  9  8  |     333   2  3   |
+    |  ”   1856      ”   1857 |     1,222  6  4  |     303   6  2   |
+    |  ”   1857      ”   1858 |       640 15  4  |     251   1 11   |
+    |  ”   1858      ”   1859 |       582  2  1  |     314  13  3   |
+    |  ”   1859      ”   1860 |       437 17  5  |      19   6  7   |
+    +-------------------------+------------------+------------------+
+    |  ”   1860      ”   1861 |                  |                  |
+    |  ”   1861      ”   1862 |       739 18  8  |     120  16  0   |
+    |  ”   1862      ”   1863 |                  |                  |
+    |  ”   1863      ”   1864 |       593  3  0  |       Nil.       |
+    +-------------------------+------------------+------------------+
+    |  ”   1864      ”   1865 |       568  0  9  |      28  15  7   |
+    |  ”   1865      ”   1866 |       481 19  4  |      31  16  9   |
+    |  ”   1866      ”   1867 |       512  8  8  |        Nil.      |
+    |  ”   1867      ”   1868 |       492 16 11  |      458  7  8   |
+    |  ”   1868      ”   1869 |       469 16  2  |        Nil.      |
+    +-------------------------+------------------+------------------+
+               C. W. FREMANTLE, DEPUTY MASTER AND COMPTROLLER.
+    ROYAL MINT, _2nd March, 1870_.
+
+STATEMENT SHOWING THE AMOUNT OF SILVER COINED AND OF THE LOSS ATTENDING
+ITS MANIPULATION IN THE MELTING DEPARTMENT.
+
+    +------------------------+-----------+-----------------+
+    |                        |           |                 |
+    |  Date—Financial Year.  |Weight of  |Value of Coinage.|
+    |                        |Coinage.   |                 |
+    |                        |           |                 |
+    +------------------------+-----------+-----------------+
+    |                        |  Ounces.  |    £    _s.  d._|
+    |June 1851  to March 1852| 314689·050| 86,539   9   9¼ |
+    |April 1852 to March 1853|1088196·550|299,254   1   0¼ |
+    |  ”   1853     ”    1854|2135071·750|587,144  14   7½ |
+    |  ”   1854     ”    1855| 501459·800|137,901   8  10¾ |
+    |  ”   1855     ”    1856|1138355·000|313,047  12   6  |
+    |  ”   1856     ”    1857|1792800·000|493,020   0   0  |
+    |  ”   1857     ”    1858|1420560·000|390,654   0   0  |
+    |  ”   1858     ”    1859|1449360·000|398,574   0   0  |
+    |  ”   1859     ”    1860|2052720·000|564,499   0   0  |
+    |March 1861  to June 1861| 650160·000|178,794   0   0  |
+    +------------------------+-----------+-----------------+
+    +------------------------+---------+--------------+-------------+
+    |                        |         |              |             |
+    |  Date—Financial Year.  |Amount of| Value of the |  Value of   |
+    |                        | Loss by | Silver Lost. | Sweep Sold. |
+    |                        | Melting |              |             |
+    +------------------------+---------+--------------+-------------+
+    |                        | Ounces. |  £   _s. d._ |  £   _s. d._|
+    |June 1851  to March 1852|         |              |  36   0  1  |
+    |April 1852 to March 1853| 1496·945| 411 13  2¼   | 111  19  4½ |
+    |  ”   1853     ”    1854| 1814·808| 499  1  5¼   | 143   2  4  |
+    |  ”   1854     ”    1855|  882·870| 242 15  9½   | 187  19  7  |
+    |  ”   1855     ”    1856|  519·069| 142 14 10½   | 144   0  2¼ |
+    |  ”   1856     ”    1857| 2912·149| 800 16  9¾   | 151  12  4¼ |
+    |  ”   1857     ”    1858| 1001·676| 275  9  2½   | 100  13  6¼ |
+    |  ”   1858     ”    1859| +733·101|+201 12  0¾   | 115   4 11  |
+    |  ”   1859     ”    1860|  199·288|  54 16  1    | 101   8  8  |
+    |March 1861  to June 1861|  238·495|  65  9 10¾   |  49   4  4½ |
+    +------------------------+---------+--------------+-------------+
+    +------------------------+----------------+---------------+
+    |                        |    Value of    |   Value of    |
+    |  Date—Financial Year.  |   Lost Silver  |     Sweep     |
+    |                        |   per Million  |  per Million  |
+    |                        |     Coined.    |    Coined.    |
+    +------------------------+----------------+---------------+
+    |                        |   £   _s.  d._ |   £  _s.  d._ |
+    |June 1851  to March 1852|                |               |
+    |April 1852 to March 1853| 1,067  0  11¼  |  383  11   1  |
+    |  ”   1853     ”    1854|   849 19  11¾  |  243  15   0  |
+    |  ”   1854     ”    1855| 1,760 11  11¾  |1,363   2  10  |
+    |  ”   1855     ”    1856|   456 19   7½  |  460   0   5¾ |
+    |  ”   1856     ”    1857| 1,624  7   1¾  |  307  10   6¾ |
+    |  ”   1857     ”    1858|   705  2   6½  |  257  14   2¾ |
+    |  ”   1858     ”    1859|  +505 16   2½  |  289   2  10¾ |
+    |  ”   1859     ”    1860|    97  1   8¼  |  179  13   9  |
+    |March 1861  to June 1861|   366  6   3¼  |  275   5   7¼ |
+    +------------------------+----------------+---------------+
+
+To obtain the true amount of loss, deduct the value of the sweep from
+the value of the silver lost.
+
+RETURN FROM THE ROYAL MINT TO AN ORDER OF THE HOUSE OF LORDS, DATED
+17TH FEBRUARY, 1870. (THE LORD ROSSIE.)
+
+MELTING DEPARTMENT.
+
+A STATEMENT of the Weight and Value of the Silver Moneys coined in each
+Financial Year from 1851 to 1869 inclusive, exhibiting the Weight and
+Value of the Loss or Waste sustained in each Year, as well as the Value
+of Sweep recovered, and the average Proportion of such Loss or Waste
+and Sweep recovered to each Million Pounds Sterling coined.
+
+    +-------------------------+-----------+---------------+---------+
+    |         Date.           | Weight of |   Value of    |Amount of|
+    |                         | Coinage.  |   Coinage.    |  Waste. |
+    +-------------------------+-----------+---------------+---------+
+    |                         |  Ounces.  |   £    _s. d._| Ounces. |
+    |August 1851 to March 1852| 314689·050| 86,539  9  9  |         |
+    |April 1852 to March 1853 |1088196·550|299,254  1  0  |1496·945 |
+    +-------------------------+-----------+---------------+---------+
+    |   ”  1853     ”    1854 |2134891·750|587,095  4  8  |1814·808 |
+    |   ”  1854     ”    1855 | 501459·800|137,901  8 11  | 882·870 |
+    |   ”  1855     ”    1856 |1138355·000|313,047 12  6  | 519·069 |
+    |   ”  1856     ”    1857 |1792800·000|493,020  0  0  |2912·149 |
+    |   ”  1857     ”    1858 |1420560·000|390,654  0  0  |1001·676 |
+    |   ”  1858     ”    1859 |1449360·000|398,574  0  0  | 484·490 |
+    |   ”  1859     ”    1860 |2052720·000|564,498  0  0  | 199·288 |
+    +-------------------------+-----------+---------------+---------+
+    |   ”  1860     ”    1861 | 625714·000|172,071  7  0  |         |
+    |   ”  1861     ”    1862 | 769680·000|211,662  0  0  |*+20·516 |
+    +-------------------------+-----------+---------------+---------+
+    |   ”  1862     ”    1863 | 532147·610|146,340 11 10  |         |
+    |   ”  1863     ”    1864 | 835920·000|229,878  0  0  | +48·918 |
+    +-------------------------+-----------+---------------+---------+
+    |   ”  1864     ”    1865 |1936800·000|532,620  0  0  |1516·266 |
+    |   ”  1865     ”    1866 |1880640·000|517,176  0  0  |3296·589 |
+    |   ”  1866     ”    1867 |1739520·000|478,368  0  0  |2923·255 |
+    |   ”  1867     ”    1868 | 961200·000|264,330  0  0  |1526·136 |
+    |   ”  1868     ”    1869 | 597600·000|164,340  0  0  | 599·329 |
+    +-------------------------+-----------+---------------+---------+
+    +-------------------------+------------+--------------+
+    |         Date.           | Value of   |Value of Sweep|
+    |                         |   Waste.   |  recovered.  |
+    +-------------------------+------------+--------------+
+    |                         |£   _s. d._ |  £  _s.  d._ |
+    |August 1851 to March 1852|            |              |
+    |April 1852 to March 1853 |411 13   2  | 155  19  5½  |
+    +-------------------------+------------+--------------+
+    |   ”  1853     ”    1854 |499  1   5  | 143  2   4   |
+    |   ”  1854     ”    1855 |242 15   9  | 187 19   7   |
+    |   ”  1855     ”    1856 |142 14  11  | 144  0   2¼  |
+    |   ”  1856     ”    1857 |800 16  10  | 151 12   4¼  |
+    |   ”  1857     ”    1858 |275  9   3  | 100 13   6¼  |
+    |   ”  1858     ”    1859 |133  4   8  | 115  4  11   |
+    |   ”  1859     ”    1860 | 54 16   1  | 101  8   8   |
+    +-------------------------+------------+--------------+
+    |   ”  1860     ”    1861 |            |              |
+    |   ”  1861     ”    1862 |  5 12  10  | 203  8  10½  |
+    +-------------------------+------------+--------------+
+    |   ”  1862     ”    1863 |            |              |
+    |   ”  1863     ”    1864 | 13  9   1  | 120  6   2   |
+    +-------------------------+------------+--------------+
+    |   ”  1864     ”    1865 |416 19   6  | 278  1   1½  |
+    |   ”  1865     ”    1866 |906 11   3  | 104  5   8   |
+    |   ”  1866     ”    1867 |803 17  11  |    Nil.      |
+    |   ”  1867     ”    1868 |419 13   9  | 347  4   3½  |
+    |   ”  1868     ”    1869 |164 16   3  |  31  0  11   |
+    +-------------------------+------------+--------------+
+    +-------------------------+---------------+---------------+
+    |         Date.           |Value of Waste |Value of Sweep |
+    |                         |per £1,000,000.|per £1,000,000.|
+    +-------------------------+---------------+---------------+
+    |                         |   £   _s. d._ |   £  _s.  d._ |
+    |August 1851 to March 1852|               |               |
+    |April 1852 to March 1853 | 1,067  0  10  |  404  5   9   |
+    +-------------------------+---------------+---------------+
+    |   ”  1853     ”    1854 |   850  1   4  |  243 15   4   |
+    |   ”  1854     ”    1855 | 1,760 11   8  |1,363  2  10   |
+    |   ”  1855     ”    1856 |   455 19   8  |  460  0   3   |
+    |   ”  1856     ”    1857 | 1,624  7   2  |  307 10   6   |
+    |   ”  1857     ”    1858 |   705  2   7  |  257 14   2   |
+    |   ”  1858     ”    1859 |   334  5   6  |  289  2  10   |
+    |   ”  1859     ”    1860 |    97  1   8  |  179 13   9   |
+    +-------------------------+---------------+---------------+
+    |   ”  1860     ”    1861 |               |               |
+    |   ”  1861     ”    1862 |   14  14   0  |  530  3   3   |
+    +-------------------------+---------------+---------------+
+    |   ”  1862     ”    1863 |               |               |
+    |   ”  1863     ”    1864 |    35 15   2  |  319 15   7   |
+    +-------------------------+---------------+---------------+
+    |   ”  1864     ”    1865 |   782 17   4  |  522  1   0   |
+    |   ”  1865     ”    1866 | 1,752 18   2  |  201 12   9   |
+    |   ”  1866     ”    1867 | 1,680  9  11  |      Nil.     |
+    |   ”  1867     ”    1868 | 1,587 14   9  |1,313 11   3   |
+    |   ”  1868     ”    1869 | 1,002 17   6  |  188 18   2   |
+    +-------------------------+---------------+---------------+
+     _Note._—The Financial Years 1860/1861 1861/1862
+     1862/1863 1863/1864 exhibit a _gain_ in the
+     Melting Department.
+           C. W. FREMANTLE, DEPUTY MASTER AND COMPTROLLER.
+    ROYAL MINT, _2nd March, 1870_.
+
+By similar treatment to that applied to the table on page 132 this will
+yield an average loss between June, 1851, and March, 1857, of £698
+13_s._ 3_d._ per million coined; whereas in the period from April,
+1857, to March, 1860, there is a gain by melting of £87 13_s._ 3_d._
+per million pounds sterling coined. To look a little more closely into
+these figures, it will be observed that in the year 1858-59 there was
+a positive gain of no less than £505 16_s._ 2½_d._ on each million
+coined; this is not to be explained by any known fact, but it seems
+probable that in that year a circumstance occurred that had happened
+many times previously, and from the prevalence of the same folly. At
+the Mint Office it is the custom to weigh the silver from the coining
+department to the melting department in drafts of 1,440 ounces, or
+for occasions of 720 ounces. Now it not unfrequently happens that the
+weigher leaves the counting of the number of drafts to his scalesman,
+and so an error creeps in. Some days afterwards the coining department
+finds itself short, say 720 ounces, and by searching its books
+finds it has been credited with too little on a specific day; after
+investigation the error is admitted, and the old receipt altered. Now
+such an error happened on the 3rd of August, 1858, when 1,440 ounces,
+or two journeys, were delivered, but not credited; however, on the
+16th August this was discovered, and the receipt altered at the Mint
+Office. It is probable that the melter never made a corresponding
+alteration in his books, and if that be the case, the gain of 1858-59
+will disappear, to be replaced by a loss of £487 0_s._ 8¼_d._, which
+would appear to be more natural. Should these lines meet the eye of
+the officer concerned, he could at once see if this be the explanation
+of so large a gain, and which has caused him much anxiety. That a gain
+can be made by melting is not a fact, although, if the statement be
+examined for the year 1855-56, it will be seen that a gain of £3 0_s._
+10¼_d._ appears to have been made; and once more, in 1859-60 a plus of
+£82 12_s._ 0¾_d._ per million seems to have been realised. These facts,
+taken as they stand, would mislead, and for reasons which shall now be
+stated. Sufficient is, however, here shown to prove that the stoppage
+of the use of oil effected a reduction in the habitual loss of the
+melting-house, while this fact renders it impossible to show that the
+stoppage of loss in the coining department was due to the more free use
+of oil and dirt (see page 131).
+
+In July and August, 1858, the melter being absent on leave, I was
+directed by written order of the Master to take his duties. Silver
+being under operation, the following quantities were melted, and with
+the results recorded:—
+
+             GIVEN TO MELT.
+                                             Ounces.
+    Ingots and alloy                       434,393·548
+    Scissel                                457,032·810
+    Clean ends                               1,440·000
+    Extra alloy                                499·539
+    Plus on weight charged by Mint Office       51·680
+                                           -----------
+                                           893,417·573
+
+            PRODUCED BY MELTING.
+                                             Ounces.
+    Bars                                   889,974·690
+    Ends                                     2,154·750
+    Grains                                     462·050
+    Assays                                     114·230
+    Loss by melting                            711·853
+                                           -----------
+                                           893,417·573
+
+To analyse this loss—for by weight it was absolute—will give much
+information, and the details of proportionate loss were as follows:—
+
+                                                          On each Million
+                                                           Ounces Melted.
+    On ingots of silver (produced from lead by Pattinson’s
+       process) and alloy for the manufacture of medals           947·91
+    On ingots, 5-franc pieces, and alloy                          263·85
+    On ingots, 5-franc pieces, scissel, and alloy                 418·40
+    Worn coin (culled from circulation) and scissel               710·06
+    Scissel melted by itself                                    1,036·45
+                                                                --------
+                    Mean Loss                                     675·34
+
+Thus, then, it appears that upon this weight of silver and alloy there
+was, when melted, a loss of 711·853 ounces, or a mean loss of 675·34
+ounces in standard silver; yet, on two undoubted occasions, the table
+above given[114] exhibits a gain upon the work of two whole years;
+why, therefore, should the loss just stated have been permitted to
+take place, when every atom of metal was weighed in the presence of
+witnesses before being placed in the pots, and was not lost sight of by
+the officers concerned until it was returned to the scales to be again
+weighed? The reply is simple: the gain in 1855-56 and 1859-60 was not
+made, and its appearance is simply a matter of account, for the melter
+was not accustomed to, and probably to this day does not, weigh silver
+into his melting-pots—he is, or was, satisfied with the Mint Office
+weights, which are so far from accurate that no ironmonger would accept
+them.
+
+On this melting alone, including 29 days’ receipts from the Mint
+Office, there were differences to the extent of 82·11 ounces plus
+their weight, and 30·43 ounces minus their weight, so that if the one
+be deducted it still leaves an absolute plus on the weight charged by
+the Mint Office of 51·68 ounces. Here, then, is a means of gain;[115]
+but if the increase of weight derived from this source be taken on the
+ingots and five-franc pieces bought, it is at the rate of 203·60 in
+a million ounces purchased. Besides this, the melter is not charged
+with the extra alloy he puts into his silver, and this on an ordinary
+average amounts to 1,126 ounces on each million ounces wrought; so
+that this work, which, in fact, did yield a loss of 711·853 ounces,
+or at the rate of £796 on the million pounds sterling, would, by
+the old system of computation, have lost £201. Since, then, it is
+thus demonstrable that a difference of £591 arises when it is known
+that the whole of the day’s work is weighed into as well as from the
+melting-pot, it is but reasonable to believe that a greater difference
+may have arisen when it was known by the Mint Office weigher that his
+weights were not checked, and, therefore, in weighing ingots to the
+melter, he probably just satisfied himself that they were as heavy as
+they were charged by the bullion dealer, and allowed the plus weight
+which is invariably given by that merchant to go to the melting-house
+not charged into the account. It is a fact that if the weigher finds
+ingots sent by the bullion dealer lighter than the weight charged,
+he sends them back, this practice not being rigidly dependent on
+the actual weight of the ingots as a whole; for unless each one is
+distinctly heavier than the weight set against it, it is returned, or
+the dealer must send silver to make up the required weight. And this
+case has more than once arisen; so that in practice, if an ingot be
+charged as 1,000 ounces, it must weigh indefinitely beyond that weight
+up to 0·50 ounce, and is then received as 1,000 ounces; but if it
+weigh in addition 0·60, then it is received as 1,000·50 ounces. These
+“drafts,” as they are called, amounted on 402,573 ounces of ingots to
+82·11 ounces, or at the rate of 203 per million ounces bought. When
+calculating the proportion of metal for melting, it is the custom to
+add 1 part of extra alloy to the thousand ounces of silver, and thus
+to allow for the loss which takes place by annealing and blanching.
+The extra alloy is not charged to the melter, as before said, but is
+weighed to him, and thus goes really to reduce his loss; in practice
+its proportionate use is increased, for after several re-meltings
+of scissel (see page 35) the bars become richer in silver than is
+required by the law, and then again extra alloy is added. In the case
+of the silver melted in 1858 it must be stated, that if from the loss
+exhibited the value of the sweep be deducted, that loss will still
+be too high, because the silver had not yet been recovered from the
+melting-pots; but with this allowance made, if we divide the total
+value of the sweep from 1851 to 1857 by the total sum coined, we shall
+arrive at a fair average price of that sweep, which may be taken at
+£404 2_s._,[116] thus leaving a loss of £392 on each million pounds
+sterling coined. But if, by the old style of calculation, the melter’s
+loss be estimated on the weight charged to the melter by the Mint
+office, it is £201, and this sum deducted from the average value of the
+sweep will give a gain of £203, where it is perfectly certain, from
+the extreme care which was taken, that the real loss was £392, which,
+minus £54 4_s._ 7_d._, subsequently explained, becomes an absolute
+loss, by melting weighed quantities, of £337 15_s._ 5_d._ per million
+pounds sterling melted. Allusion has been made to the silver left in
+the iron melting-pots: in the case which has been so much dwelt upon
+cast-iron pots from Glasgow were used, these absorbing an exceptionally
+large amount of silver. As, however, the object is to arrive at a fair
+average, it will be wiser to take into consideration the ordinary
+wrought-iron pot, which, although it costs more at first, is cheaper in
+the long-run, as it will stand from fifty to sixty meltings, whereas
+the bulk of the cast-iron pots used in 1858 leaked in the first
+melting, and no one of them stood a whole day’s work.
+
+[Footnote 114: See page 134.]
+
+[Footnote 115: See pages 127, 130.]
+
+[Footnote 116: See page 134.]
+
+In treating of the melting of silver, it has been explained that
+charcoal is placed in the pot, to prevent the oxidation of the alloy.
+This, to a measured extent, it effects, but in the process it becomes
+burned, and its ash forms a slag with the oxide of iron of the
+pot, and this slag, always floating on the top of the fused silver,
+gradually covers the inner surface of the pot as the silver is poured
+out, and in so covering the pot secretes globules of silver in the
+“pin-holes” of the iron. At the end of the useful existence of the
+pot this silver is, or rather should be, obtained. The practice is to
+“sweat the pot,” and to fuse in it some common table salt—chloride of
+sodium. It would seem that the used-up wrought-iron pots yield by this
+process, on an average, 12 ounces of silver. But all the silver is not
+obtained at this operation, for the pots stand out of doors, in a yard
+to which many persons have free access, for months before they are
+treated professionally, and the result of the preliminary sweat which
+they undergo is not a source of profit to the Mint.
+
+In 1858 two wrought-iron pots were locked up when their active
+period had passed, and these were subsequently treated with great
+consideration, with a view to ascertain their capacity for retaining
+silver. They yielded under my hands:—
+
+                                                          Ounces.
+    By simple sweating                                      20·00
+    By detaching the slag and oxide from the pot
+        and fusing it with salt                             24·70
+    By separating the remaining silver from the pin-holes
+       in the pot by means of diluted acid                   4·60
+                                                           ------
+                                                            49·30
+
+In the whole period of that melting I used nine wrought-iron pots, of
+which three were entirely used up, and six cast-iron pots, all of which
+leaked—some two on one day: it would therefore seem fair to assume
+that of these fifteen pots eight were worn out. We may then consider
+that had all the eight pots been carefully treated, and each made to
+yield its fair proportion of silver, we should have recovered silver at
+the rate above shown, or 24·65 ounces from each pot, and this weight,
+multiplied by eight, as proposed, will give 197·20 ounces, which, at
+5_s._ 6_d._ an ounce, would be worth £54 4_s._ 7_d._, and by this
+amount may that loss of £392 be reduced, when the actual loss will be
+£337 15_s._ 5_d._, as determined by most carefully-conducted operations
+on weighed quantities. This loss, however, is not final, although
+absolute, because the sweep was sold for £289 2_s._ 10¾_d._;[117] and,
+deducting this, the final loss is £48 12_s._ 6¼_d._ on each million
+pounds sterling melted. There can be no doubt but that this is at
+least one-third in excess of the loss which should take place; yet,
+between 1851-57, it was, after all deductions for sweep, recoveries
+from worn-out pots, &c., had been made, no less than £698 13_s._ 3_d._
+This excess might be accounted for either as wasteage in the melter’s
+department, or as legitimate loss by melting caused by the excess of
+oil sent on the scissel; but since the coiners permitted unnecessary
+loss to accrue, it will be right to charge this sum to their account,
+because, if they received metal free from oil, and returned it to the
+melter sustaining too much oil, it is evident that they received from
+their men bullion and oil in place of bullion. I therefore add £650
+0_s._ 8¾_d._, the difference between £48 12_s._ 6¼_d._ and £698 13_s._
+3_d._, to the wasteage previously explained,[118] when that sum will be
+raised to £1,297 16_s._ 0¾_d._ on each million of silver coined.
+
+[Footnote 117: See page 134.]
+
+[Footnote 118: See pages 131, 136.]
+
+In all former calculations the value has been determined on the million
+coined; but now that we approach the necessary considerations as to
+the loss by melting which should absolutely take place, it becomes
+necessary to state that, as a rule, 100 parts of silver bars should
+produce 57 parts of coined money, and in this proportion must the value
+of the sweep be reduced, that we may obtain its value proportioned to
+the silver lost by weight in melting. The sweep results, as in the case
+of gold, from the grinding of the burnt refuse of the melting-house,
+which consists of the sweepings from the floor, partly-used charcoal,
+and dirt—“matter in the wrong place,” as Lord Palmerston so aptly
+designated it. At the end of the coinage this is sold, and its value
+is applied to the reduction of the apparent loss by melting. In the
+case now under discussion, we have found that there was an absolute
+loss by weight of 711·853 ounces on 893,417·573 ounces of bullion given
+to be melted. By proportion, this weight is equal to 796·764 ounces
+on each million. The sweep was sold for £289 2_s._ 10¾_d._ for each
+million coined; therefore, to obtain the specific amount that should
+be deducted by this source from the loss, we must assume that the
+coined money was 57 per cent. upon the bullion melted, when £164 16_s._
+3½_d._ becomes the value of the sweep belonging to each million melted.
+Since this sum is calculated by value, we will convert it into ounces,
+which is a simple process; for, as the other sums bear proportion to
+pounds sterling, we have but to consider it as ounces, when the sum
+we require will be 164·814. To this sum is to be added the amount of
+silver due from the melting-pots, as before explained, and which is
+220·724 ounces, because it has been assumed that we should obtain 24·65
+from each on the average number of pots used in melting, and this,
+calculated into the million, is as above. The total of these two sums,
+385·538, deducted from 796·764, leaves a final loss of 411·126 ounces
+by weight in melting a million ounces of standard silver.
+
+By experiments made with the utmost care, I arrived at the conclusion
+that, in melting silver bullion for a complete coinage, the loss by
+melting should not exceed £100 on each million sterling melted, and
+in this conclusion I am confirmed in a remarkable manner by Colonel
+Smith,[119] who, with vast opportunities for careful every-day work and
+by absolute weighing, found a loss of 200 in each million for dirt and
+oxygen alone, and this he is willing to consider as 250 on each million
+of scissel; but he found his loss by melting ingots 30 on the million,
+and assuming that the total of a coinage would be half ingots and half
+scissel, this would give an average of 140 when he was “convinced that
+he was robbed,” and that this was so he proved by compelling the naked
+workmen, by means of physic, to disgorge the silver they had swallowed.
+He, however, was probably still robbed, for black men rub pieces of
+bullion or coins together and secrete the dust obtained by that means
+in their hair, and thus abstract metal from the works of the Brazilian
+Mining Association, and probably from the mints in India. To such an
+extent is robbery by this means carried on that the Association above
+referred to causes the head of each person to be washed before he
+leaves work, and thus recovers a large amount of gold dust.
+
+[Footnote 119: See Report by Colonel J. T. Smith on Indian Mints from
+1841-2 to 1852-3. Printed by authority at Madras, 1855.]
+
+If then, as has been shown, there is a final loss of £411 2_s._ 6_d._
+on each million of silver melted, we must now determine that this sum
+amounts to £721 5_s._ 5½_d._ on each million pounds sterling _coined_;
+and since by coining a loss is sustained equal to £365 15_s._ 10½_d._,
+the total final loss is no less than £1,132 7_s._ 11½_d._ per million
+pounds sterling of silver coined. Such being the facts ascertained
+by the scales, we find that the loss by ACCOUNT is returned at £365
+15_s._ 10½_d._ for the coining department, while, at the same period,
+the melting-house account shows a gain of £87 13_s._ 3_d._, which,
+deducted from the loss of the coining department, gives a final loss
+equal to £278 2_s._ 7½_d._, as against, in the former period, a loss
+by coining of £1,013 11_s._ 2½_d._, and by melting of £698 13_s._
+3_d._, or a total final sum of £1,712 4_s._ 5½_d._ The difference,
+then, between these two final sums, or £1,434 1_s._ 10_d._, shows the
+actual loss that the Mint authorities submitted to without explanation
+on each million of silver coined between June, 1851, and March, 1857.
+This sum is exactly 8_s._ 8_d._ for each £100 coined, while the French
+contract to coin each £100 for 15_s._, including loss, wages, salaries,
+&c. Although, for the sake of accurate demonstration, I have accepted
+the facts as stated, it is but fair that I should compare the results
+actually obtained with those stated by the usual methods, and then
+the contrast will become more apparent; for whereas the proportional
+loss by melting is shown to have been on weighed quantities £721
+5_s._ 5½_d._, it is a fact that by the usual methods of account, that
+of neglecting to charge to the melter the extra weight added to the
+ingots by the system of purchase, and omitting the weight of the extra
+alloy, this loss becomes reduced to insignificant proportions, for it
+was exactly £180 0_s._ 1_d._, and as the sweep sold for £164 16_s._
+0½_d._ per million melted, the final loss would be but £15 3_s._
+11½_d._ Yet, for the sake of truth, I consider it better to charge to
+each department the metal by weight, and that weight should include
+every atom, because then, an exceptional loss having taken place,
+its significance is at once apparent; whereas, when unknown weights
+are placed in the melting-pot, the losses may vary to a considerable
+extent, and yet not be detected. By this plan fictitious gain becomes
+impossible—apparent loss inevitable; but _that loss is so determinate_
+that it can be calculated to a nicety, and any figure obtained beyond
+that _calculated_ exhibits one of two facts,—that the melting or
+coining, or both, have by too great a degree refined the silver under
+operation, and this is demonstrated by the final assays, or UNNECESSARY
+WASTE IS AGAIN PERMITTED, but both result from carelessness; therefore
+the Mint Master’s duty is perfectly clear. While, then, absolute gain
+is impossible, and loss inevitable, it is, perhaps, well to exhibit the
+results of Colonel Smith’s experience in the Indian Mints, because that
+gentleman states that there can be no loss, and that there must be a
+gain. Thus, then, he and I are antagonistic on the plainest possible
+point; yet an examination of his statement will show that his gain,
+although absolute, is not legitimate, but results from a near approach
+to obtaining bullion without paying for it.
+
+It must, then, be explained that in England, and in the Indian Mints,
+it is not the custom to assay bullion with a view to the determination
+of its actual value, but only to the nearest part of a pennyweight.
+Thus, standard silver is composed of 222 parts of silver and 18 of
+copper in 240. Assuming that it is the custom to determine the amount
+of silver to within half a pennyweight; and that, the assay showed
+23 pennyweights and 11 grains, the silver ingot would be reported as
+containing 23 pennyweights, and the owner would lose the 11 grains,
+whereas it should be the custom to determine absolutely the real value
+of the ingot. Now, in India, Colonel Smith found these “unreported
+fractions,” when alloyed with copper, amounted to 1,230 parts on each
+million purchased, so that if he paid for a million ounces, he received
+1,001,230 ounces. Here, then, was part of his profit. In addition to
+this gain he made another by the customary turn of the scale,[120] but
+he has not told us its amount; yet his final result, from the receipt
+of the bullion to its return to the merchants as coined money, is at
+the rate of £1,165 gain on each million pounds sterling coined. Now
+it is clear that if so large a sum as £1,230 per million is obtained
+without purchase from the merchant, either that merchant should himself
+saturate those unreported fractions with alloy, or make Colonel Smith’s
+mints pay for them. It is asserted that this practice “exists in the
+Royal Mint, but not to so large an extent;” yet Colonel Smith states it
+to be at the rate of £932 per million coined. If this be the case, the
+Mint books should show for its official accounts a vast gain, instead
+of, as is the case represented by its purely manufacturing accounts, a
+loss. This may possibly be the case, but, so far as my experience goes,
+it is against the practice; for the bullion received is invariably
+greater in weight than that returned in coined money.
+
+[Footnote 120: See pages 137-138.]
+
+Colonel Smith has determined with great precision that from dirt alone
+there is a loss by melting of 1 part in each thousand melted. Before
+he paid for bullion he invariably insisted on its being pre-melted,
+because the Mint thus saved the loss occasioned by adhering dirt and
+extraneous matter; this was wise if the merchants would submit to it,
+but it is doubtful if English bullion dealers would first melt dollars
+and five-franc pieces before selling them to the Royal Mint.
+
+With bullion thus manipulated I have shown that the Royal Mint also
+made a gain, but such gain is not real (see pages 136, 137, 138), for
+it is evident that the silver having been bought with the intention of
+being converted into standard silver, each grain should be alloyed,
+and the whole amount of fine silver being thus alloyed should produce
+its calculated weight of standard silver; therefore in each department
+every atom should be weighed, and the total weight charged to any
+particular operation returned or accounted for, and under these
+circumstances no gain can result.
+
+Colonel Smith, however, has determined with great care the following
+facts from every-day work, and these are so valuable that it is deemed
+wise to quote them. He found, then, that he made an actual gain by
+coining from the above circumstances of 1,230 ounces on each million
+ounces of rupees produced as coin. In the blanching of the blanks that
+were used for the making of that coined money the loss by blanching was
+at the rate of 966 ounces per million blanched, and from the acid used
+in blanching he obtained 726 ounces of metallic copper, so that of the
+966 ounces which disappeared only 240 ounces were a real loss, which
+resulted from oxygen and dirt. Here, then, are reliable figures; and,
+as he sold his sweep for a sum equal to 140 ounces of silver for each
+million ounces coined, it is clear that his real loss was just 826 on
+each million ounces coined. It must be seen that although the copper
+was recovered, it should in these calculations be neglected, because
+in the Royal Mint it is not in practice deemed wise (nor, indeed, is
+it the every-day custom in India) to separate this copper; therefore
+we will consider the whole matter lost to the Mint. Since, then, he
+has demonstrated that he received in his clean ingots more silver by
+1,230 ounces than he paid for, it is only necessary to add this sum
+to the weight he charges to himself, which will then be 1,001,230
+ounces; in manipulating this total weight he shows that he lost 554
+ounces by melting and 826 ounces by blanching, or a total loss of
+£1,380 per million pounds sterling. This, compared with the practice
+in the Royal Mint, shows, as Colonel Smith says, that the Mints of
+India do not obtain their legitimate amount of profit; and he, in
+his own words, attributes the loss to what he considers its only fit
+cause—“peculation.” For even in the Royal Mint—ill-managed institution
+that it is—the average annual loss, taken by the system of weighing,
+is only £721 5_s._ 5½_d._ Still, as showing the fluctuations, it is
+curious to observe that in the last period given, viz., from March to
+June, 1861, the recorded loss by melting is £91 0_s._ 8_d._, while that
+by coining is £1,949 9_s._ 6_d._,[121] or a final loss of no less than
+£2,040 10_s._ 2_d._
+
+[Footnote 121: See pages 132-134.]
+
+Having given the returns relating to gold ordered by the House of
+Lords, I also give those exhibiting similar details for silver, and
+place that relating to coining on page 133, while that demonstrating
+the facts as regards melting will be found on page 135.
+
+Mr. Fremantle assures us in his Report that “the ‘waste’ shown to have
+existed of late years has not been excessive,” while Mr. Roberts tells
+us, “The apparent loss on silver melting is two grains on the troy
+pound, or 0·346 per mille, much of the metal being recoverable from
+sweep.” 0·346 per mille is 346 per million, so we will take these two
+statements into consideration as regards the returns now to be noticed.
+
+I propose to submit the following abstract from the return on page 135,
+and thus bring into view _facts_ recorded by the Mint Officials, that
+they may be contrasted with _opinions_ expressed by those gentlemen,
+and for this purpose I deduct the value of the sweep from that of
+the waste, and thus arrive at the amount of the latter, and as “of
+late years” may fairly be taken to express the five last past, I will
+operate on those periods only.
+
+    +---------------+-------+------------------+------+----------------+
+    |Value of Waste |       |Value of Sweep per|      | Final Loss by  |
+    |per £1,000,000.|       |    £1,000,000.   |      |     Melting    |
+    |               |       |                  |      |     Silver.    |
+    +---------------|       |------------------|      |----------------|
+    |               |Deduct |                  | The  |                |
+    |   £   _s. d._ | Value |    £  _s. d._    |Result|     £  _s. d._ |
+    |   782 17  4   |  of   |   522  1 10      | is a |    260 15  6   |
+    | 1,752 18  2   |Sweep, |   211 12  9      |      |  1,541  5  5   |
+    | 1,680  9 11   |       |     Nil.         |      |  1,680  9 11   |
+    | 1,587 14  9   |       | 1,313 11  3      |      |    274  3  6   |
+    | 1,002 17  6   |       |   188 18  2      |      |    813 19  4   |
+    +---------------+-------+------------------+------+----------------+
+    |              Total Loss divided by 5 years         4,570 13  8   |
+    |                                                  ----------------+
+    |       Gives the Average Loss by Melting Silver       916  2  8¾  |
+    +------------------------------------------------------------------+
+
+In other words, the loss which actually accrues is practically three
+times as great as Mr. Roberts finds necessary, and yet Mr. Fremantle
+approvingly says _it is not excessive_. I should advise Mr. Roberts
+to return to the use of wrought-iron pots and pay proper attention to
+the melting, FOR I HAVE PROVED that £100 on a million sterling is as
+much waste as should LEGITIMATELY arise, and Colonel Smith confirms my
+determinations, as will be seen at pages 140-141. If these officers
+will pay sufficient attention to their business, they need not fear the
+variations of assay pointed out by LEVOL. These arise, it is true, but
+to an imperceptible extent only when melting is properly conducted,
+as I proved to the entire satisfaction of Mr. Graham in August, 1858,
+and who, in consequence, relinquished his intention of adopting the
+then proposed mode of taking silver for assay from the fluid metal by
+ladles. It is not by hunting hopeless hobbies that losses are to be
+stopped, nor will the silver be found in the chimneys—if so, some of
+it should be in those of the present Mint. Will Mr. Fremantle or Mr.
+Roberts state what has become of £916 worth of silver from each million
+coined in the past five years? The actual value lost is £4,580 14_s._
+6_d._, sufficient to make four immense ingots, which would surely stop
+the draught of any chimney in the Mint.
+
+As this return has yielded matter for comment, I will refer briefly to
+that which exhibits the additional loss by coining, and shown on page
+133, the following abstract for the past five years will suffice.
+
+    +-----------------------------------------------------------------+
+    |   Value of  |        |   Value of   |        |   Final Loss     |
+    |  Waste per  |        |  Sweep per   |        |  by  Coining     |
+    | £1,000,000. |        |  £1,000,000. |        |    Silver.       |
+    +-------------|        |--------------|        |------------------|
+    |  £  _s. d._ |        |  £  _s. d._  |  The   |    £    _s. d._  |
+    | 568  0  9   | Deduct |  28 15  7    |        |    539   5  2    |
+    | 481 19  4   |  Value |  31 16  9    | Result |    450   2  7    |
+    | 512  8  8   |   of   |    Nil.      |        |    512   8  8    |
+    | 492 16 11   | Sweep, | 458  7  8    |  is a  |     34   9  3    |
+    | 469 16  2   |        |       Nil.   |        |    469  16  2    |
+    +-----------------------------------------------------------------+
+    |          Total Loss divided by 5 years          2,006   1 10    |
+    |                                                -----------------+
+    |       Gives the Average Loss by Coining Silver     401  4  4¼   |
+    +-----------------------------------------------------------------+
+
+Whereas then the loss from 1851 to 1857 averaged, as I have shown on
+page 131, £1,013 11_s._ 2¼_d._, and fell under my management in the
+period between 1857 and 1860 to £365 15_s._ 10½_d._, it has now again
+risen to £401 4_s._ 4_d._—a steady increase at the rate of 10 per
+cent., which seems unreasonable.
+
+A rigid Parliamentary inquiry into the circumstances of the Mint is
+as great a necessity at this time as it was shown to be in 1856; and
+such an inquiry might demonstrate not only a want of ability, but also
+whether all the officers are satisfied; whether there be not great
+heart-burnings, tending to a not very complacent style of performing
+their duty.
+
+I quote the following from Hansard’s Debates, as having occurred in the
+House of Lords, to show that the Government steadily resists inquiry
+into the affairs of the Mint; yet I hope the time will arrive when
+Parliament will assert its right and induce Ministers to yield an
+inquiry, however much “Mr. Lowe may deprecate it.” On the 22nd March,
+1870,
+
+    “LORD KINNAIRD said: I stated the other night
+    that great robberies have notoriously taken place, and
+    I maintain that these peculations and robberies still
+    continue. If I had an opportunity before a Committee, I
+    could prove this, but the returns which I have obtained
+    will show the correctness of what I am stating. I was not
+    surprised the other evening at a particular return being
+    refused, for the officials of the Mint naturally dislike
+    further exposure; but the returns before us clearly show
+    that under the term ‘waste,’ which should rather be
+    ‘stolen,’ large sums are lost in coinage. There ought to
+    be no loss in coinage if the Mint was properly conducted.
+    There might, indeed, be a small loss of £100 on the million
+    in the melting department; but in the coining there should
+    be a gain of at least £59, making the net loss £41. Instead
+    of this, however, there was a loss, as those returns show,
+    of £460 on every million coined. What becomes of that sum?
+    It must go into some one’s pocket, and in point of fact
+    it is abstracted. Look, too, at the large sums which are
+    paid to the Bank of England for loss every time there is a
+    coinage; at one time there was a loss of £1,132 on every
+    million for loss of gold abstracted and not returned in
+    coinage. From 1851 to 1857 there was a loss; in the next
+    two years there was a gain; the next two years there was
+    a loss and the following year there was a gain, and after
+    that losses. Now why should not the gain continue? Why
+    was there a gain? Because the men were properly looked
+    after, and could not abstract the precious metal.... I
+    hope your Lordships will agree to refer this bill to a
+    Select Committee, or will hereafter agree to an independent
+    inquiry into the Mint, conducted by other gentlemen than
+    the Chancellor of the Exchequer’s Private Secretary and the
+    Deputy Master.... I move that the Bill be referred to a
+    Select Committee.”
+
+I again quote Hansard’s Debates, 24th March, 1870:—
+
+    “LORD KINNAIRD said: The noble Marquess, (the
+    Marquess of Lansdowne) stated on Tuesday night that there
+    was a considerable profit on silver, which no doubt ought
+    to be the case; but the returns obtained by an Honourable
+    Member in the House of Commons showed that, though in some
+    years there was a gain, in nine years the total loss on the
+    coinage of silver was £5,373. Bad workmanship, he might
+    remark, made the coins much less durable, and therefore
+    caused expense by rendering earlier repair of the coinage
+    necessary. He hoped that, later in the session, the
+    Government would concede an inquiry into the management of
+    the Mint, when he would undertake to prove his allegations
+    of mismanagement and peculation, and indeed the returns
+    proved this....
+
+    “The MARQUESS OF LANSDOWNE thought that the noble
+    Lord confounded two things. There was a loss incurred by
+    the public in keeping the silver coinage up to its proper
+    standard; but in its manufacture into coin, there was a
+    considerable gain, amounting to something like £20,000.”
+
+Again, on the 18th July, I also quote from Hansard’s Debates:—
+
+    THE MANAGEMENT OF THE MINT.—MOTION FOR A SELECT COMMITTEE.
+
+      “LORD KINNAIRD: I rise to move for a Select
+      Committee to inquire into the past and present management
+      of the Mint, and although I very much regret that it is the
+      intention of the Government not to assent to my Motion, I
+      feel bound, nevertheless, to call your Lordships’ attention
+      to the mismanagement of the Department to which my Motion
+      refers. It will be in your Lordships’ recollection that
+      when the Coinage Bill was under consideration I moved
+      for certain returns connected with the gold coinage, my
+      object being to show that considerable loss occurred in the
+      process of coining. Some of those returns were granted,
+      but others were refused on the plea that they were too
+      voluminous to lay on your Lordships’ table. But I have
+      made inquiries, and find that refusal was made because
+      the officials of the Mint did not wish for any searching
+      inquiry, and because the returns would have exposed certain
+      malpractices connected with the coinage. I also moved, when
+      the Bill was in Committee, for certain returns connected
+      with the coinage of silver and the transactions between
+      the Bank of England and the Mint. I was informed on that
+      occasion that no record was kept of those transactions;
+      I saw at the time that was a subterfuge, and that the
+      officials knew these returns would disclose certain
+      malpractices at the Mint which they would prefer were not
+      made public, for not only is a record of these transactions
+      kept, but the returns could be granted with ease. I have
+      found, however, that a return has been presented to the
+      House of Commons, which gives me the principal part of the
+      information I desired to obtain by the returns for which
+      I moved. That return, I have heard said, is not strictly
+      correct; but it is a return presented to Parliament,
+      and, as far as the figures to which I wish to refer are
+      concerned, I have reason to believe they must be correct.
+      The noble Marquess (the Marquess of Lansdowne) who answered
+      me on that occasion, admitted that as regards the gold
+      there was great loss in coinage. He said that although
+      the Government was not supposed to make money by the gold
+      coinage, they made a considerable sum by the silver; and
+      at another time (on the 24th March) he said that although
+      there was a loss resulting from keeping the silver up to
+      the proper standard, through wear and tear, yet on the
+      manufacture there was a profit of something like £20,000
+      a year. Now, I am not going to hold the noble Marquess to
+      any statement he made on that occasion, because not being
+      himself connected with the Mint he must have been dependent
+      on the officials; but I can assure him that statement is
+      entirely erroneous. It is quite true that a profit was made
+      in the Mint in the year 1859 of £27,032 on the coinage of
+      silver, and this arose from the large quantity coined and
+      the very small purchase of worn coin. £647,064 worth of
+      silver was coined in that year as against a yearly average
+      of £341,018, and the purchase of worn coin amounted to only
+      £8,096 as against the average of £14,633. But although this
+      profit of £27,032 was made in this year, there was a loss
+      of £5,373 during the next nine years. Now, my Lords, as
+      regards the coinage of silver, there should be an uniform
+      profit. The price of silver is 5_s._ 1_d._ or
+      5_s._ 1⅜_d._ per ounce, so that there should be
+      a profit of 7½ per cent. upon the silver coin. In 1868 the
+      sum purchased was £312,252, which should have yielded a
+      profit of £23,368, but the return showed a loss of £10,896;
+      so that, adding the loss on to what the profit should
+      have been, we find that the Mint was £34,265 on the wrong
+      side that year in its silver coinage; but inasmuch as the
+      loss on the purchase of worn silver was £18,058 in that
+      year, the net loss to the Mint through mismanagement was
+      £16,207. Now, what became of that sum of money? How has
+      it disappeared? The noble Lord admits gold was abstracted
+      during the process of coining, and I say that the loss now
+      arises from peculation. The Chancellor of the Exchequer
+      himself contradicts the noble Lord, and admits that there
+      is a loss on silver, for in the estimates I find he asked
+      the House of Commons to vote £1,000 to make good the loss
+      on silver, in addition to £15,000 for the loss occasioned
+      by repairing that coinage for the coming year, which has
+      to be paid out of the pockets of the people instead of the
+      Exchequer being replenished by the legitimate profit of
+      £20,000. But the most extraordinary loss is in the coinage
+      of copper. One ton of copper costs about £100, and when
+      converted into coin it is worth £358, giving an actual
+      gross profit of £258; yet I find the Chancellor of the
+      Exchequer asked for £1,000 last year to make good the loss
+      on the copper coinage. I have been rather amused to find
+      the Chancellor of the Exchequer speaking slightingly of the
+      loss on the gold coinage, saying in all probability it went
+      up the chimney. I think it is more likely to have gone up
+      “the spout.” Now, I find another item in the estimates of
+      £1,800 for the expenses of an inquiry into foreign Mints.
+      This represents the expenses of three gentlemen who are
+      going to inquire into the method of coining adopted on the
+      Continent; but, on inquiry, I find that nearly all the
+      machinery in use in foreign Mints went from this country,
+      so that we could ascertain all that we want to know about
+      the practice in foreign Mints, by making inquiries of
+      certain engineering firms in this country. I may be told
+      that the foreign Mints may have improved on the machinery
+      supplied to them, but even this may be ascertained without
+      going to this enormous expense. Moreover, most of the
+      coining on the Continent is done by contract, and it
+      is not likely that contractors will give a Government
+      Commissioner, who is competing with them by advertisement,
+      much information as to the way in which they carry on their
+      work; so that altogether this £1,800 will be completely
+      thrown away. And who are the gentlemen commissioned to make
+      this inquiry? The Deputy Master is one of them—a most
+      excellent, financial man; but, unfortunately, he knows
+      nothing of the practical part of the business, and will
+      gain very little by his trip. Then there is Mr. Roberts,
+      lately appointed chemist to the Mint; ... and the third
+      gentleman is Mr. Napier, one qualified in every respect
+      for the duty. In 1858 a sum of £1,100 was set apart for
+      the purchase of a filing machine in accordance with an
+      estimate sent in by Mr. Napier for the purpose; but, before
+      the order was executed, an officer in the Mint made a
+      machine answering every purpose, which cost only £60, and
+      nobody knows what became of this £1,100. I believe this
+      Commission is going to Spain, but Mr. Napier manufactured
+      the machinery in use there, so he is going to Spain to see
+      how his own machines work, and he is to receive £2,000
+      for doing it. Perhaps, however, as the war has broken out
+      the trip will be postponed. Now, my Lords, what I say I
+      am prepared to substantiate before a Committee, and I
+      challenge contradiction. That an inquiry is needed even at
+      this late period of the session is patent, for the House
+      of Commons has only recently voted no less than £18,000
+      to make up the losses in the Mint. Mr. Fremantle and Mr.
+      Rivers Wilson have made a Report on the subject of some
+      of these complaints, and have suggested improvements; but
+      these improvements would have no effect upon the working of
+      the establishment, and would not touch the main defects in
+      the system. One of the alterations made in consequence of
+      that Report was a revision of the scale of wages. Formerly
+      the workmen had a retaining fee varying from 6_s._ to
+      10_s._ per week when unemployed, and a certain wage
+      beside when at work. But the pay was very small, and it
+      was thought this might lead to peculation. The scale has
+      accordingly been revised by the payment of £1 per week as
+      retaining fee, but the revision is calculated to give the
+      men a little less on the whole, a result to be expected
+      when the arrangement was made by so skilful a financier
+      as the Chancellor of the Exchequer, and the country saves
+      £100 a year out of the workmen’s wages. But the most
+      extraordinary part of the revision is to come; and this
+      affords another instance with the sugar duties, hawkers’
+      licenses, and the gun tax, of the readiness with which the
+      Chancellor of the Exchequer jumps to conclusions, without
+      being at the trouble to inform himself upon the subject in
+      hand. The workmen are by this new scale to receive less
+      when coining gold than when coining silver, although the
+      temptation to peculation is greater, so that at the time
+      when their honesty should be secured by good payment, they
+      are to be treated with a niggardly hand, and who can be
+      surprised if they help themselves? The noble Marquess says
+      there has been only one case of dismissal for peculation;
+      but, if he inquires further, he will find there have been
+      twelve. No prosecution has followed these dismissals, nor
+      even an inquiry. Prosecutions would not be palatable to the
+      Mint authorities, because they would expose the system.
+      Now, I can assure your Lordships, that these statements
+      I have made are true in every respect, and I challenge
+      contradiction; and I trust the Government will think the
+      facts really demand a searching inquiry. More than a
+      year since, I brought the subject before the Chancellor
+      of the Exchequer, but it was pooh-poohed, and I was told
+      that a private inquiry would be made: but no inquiry has
+      been made, and the system remains unamended. I therefore
+      move for a Select Committee, to inquire into the past and
+      present management of the Mint.
+
+      The MARQUESS OF LANSDOWNE: I regret that it is my
+      duty to decline to accede to the motion of the noble Lord,
+      but I feel sure your Lordships will admit, when I have
+      made a brief statement of the facts of the case, that the
+      Government is warranted in refusing the Committee. I must
+      admit that two cases of peculation have occurred at the
+      Mint; but the persons concerned were dismissed, and there
+      has been no reason to suspect a recurrence of the practice;
+      I am sure therefore, the noble Lord is under a
+      misapprehension[122] when he says there have been twelve
+      cases of dismissal for peculation during the last few
+      years. As regards the charge of wasteful management, I must
+      repeat the statement I made on a previous occasion. The
+      noble Lord, I fear, confuses two things—namely, the loss
+      occurring from the necessity of keeping the silver coinage
+      up to the proper standard, and the gain which accrues from
+      the coining; and, on the whole, there is a distinct gain,
+      although I may, on a previous occasion, have overstated the
+      amount. There is, notwithstanding the information of which
+      the noble Lord appears to be possessed, a gain of £5,000
+      a year on the silver coinage. The amount of waste on the
+      gold coinage has, within the last few years, been extremely
+      moderate: it is at present, 1_s._ per £100; and an
+      eminent firm of refiners in the city has given an opinion
+      that this is very satisfactory. So much for the past. With
+      regard to the present, I must say that as the department
+      has recently been reorganised, it would be hardly fair,
+      before it had got into full working order, to institute
+      an inquiry. The staff has been reduced, thus effecting
+      a saving on this year’s estimates of £5,000; the system
+      of the payment of wages has been altered, resulting in a
+      small saving and in a marked effect on the staff; and the
+      melting and coining departments have been united, avoiding
+      that apparent confusion between the accounts of the two
+      departments, which has, in some respects, misled the
+      noble Lord. Lastly, I come to the Commission of Inquiry,
+      which has been travelling on the Continent. Now, if the
+      machines in use on the Continent have been mostly made at
+      Birmingham, much may be learnt, as to their application and
+      the character of the metals used, by the proposed inquiry.
+      As regards the members of that Commission, Mr. Roberts is
+      a very eminent chemist, and has proved his capabilities
+      by devising a system for depriving gold of the obnoxious
+      properties on which the noble Lord recently commented.
+      The noble Lord did not fail to admit that Mr. Napier was
+      eminently qualified for a post on the Commission; and, as
+      regards the Deputy Master, he has exhibited great abilities
+      in discharging the duties of his office, and I do not
+      think the noble Lord has said a single word to show he has
+      forfeited our good opinion.
+
+[Footnote 122: I am prepared to give the names of the parties dismissed
+and the dates of dismissal.—G. F. A.]
+
+Since I am desirous of drawing attention to the affairs of a Public
+Department, and to that only, I have omitted some passages in the
+foregoing debates because they did not affect the subject under
+discussion; still, I quote the remainder of the debate in so far as it
+was personal to myself in the Appendix at pages 197-198. It will have
+been seen that in these debates in the House of Lords, Lord Lansdowne,
+on the part of the Government, made statements to which Lord Kinnaird,
+in his honoured letter to me, alludes, I therefore proceed to offer a
+few remarks.
+
+That Lord Kinnaird does not confound _loss on the coinage_ with loss
+occasioned by the repair or “keeping of the coinage up to standard,”
+is demonstrated by his lordship’s speeches, and by the return No. 157,
+1869, presented to the House of Commons by Mr. Ayrton, which shows
+that, in 1859, £647,064 of _coined money_ was obtained by _coining_
+£620,031 of silver purchased for coining, giving £27,033 as a clear
+profit for that especial year.
+
+If, however, the circumstances be examined, it will be found that in
+1859 only £8,096 was lost by the purchase of worn silver coin, as
+against the yearly average (shown on page 5 in the return, but not
+inserted by me) of £14,633. Yet even this exceptional gain is not
+creditable, for, at the rate of 7½ per cent., it should have been
+£46,502 instead of £27,033.
+
+The remaining nine years on the return—No. 157, 1869—show an average
+loss by the silver coinage as exhibited in the next table compiled from
+it. The Mint returns as presented to Parliament require explanation. I
+have therefore added two columns to demonstrate the profit and loss.
+
+    +-------+-----------------+-----------------+----------+-----------+
+    | Date. | Total Value of  |  Real Cost or   |  Profit  |    Loss   |
+    |       | Silver Coined.  | Value of Metal. | Realised.|Sustained. |
+    +-------+-----------------+-----------------+----------+-----------+
+    |       |          £      |        £        |       £  |     £     |
+    | 1860  |       218,403   |     222,981     |          |    4,577  |
+    | 1861  |       209,484   |     215,029     |          |    5,545  |
+    | 1862  |       148,518   |     159,948     |          |   11,429  |
+    | 1863  |       161,172   |     171,855     |          |   10,688  |
+    | 1864  |       535,194   |     521,003     |  14,190  |           |
+    | 1865  |       501,732   |     483,861     |  17,870  |           |
+    | 1866  |       493,416   |     486,113     |   7,302  |           |
+    | 1867  |       193,842   |     195,445     |          |    1,603  |
+    | 1868  |       301,356   |     312,252     |          |   10,896  |
+    |       +-----------------+-----------------+----------+-----------+
+    |       |     2,763,117   |   2,768,487     |  39,362  |   44,733  |
+    |       |                 |                 +----------+-----------+
+    |  Deducting the Profit, £39,362, the Final Loss becomes   £5,371  |
+    +-------+----------------------------------------------------------+
+
+Such final loss is indefensible. Yet Lord Lansdowne is led to believe
+that the seigniorage on silver yields a profit of £5,000 a year
+(modified from his first statement of £20,000), whereas this return,
+inclusive of the £27,033 before explained, exhibits a profit of £21,659
+in ten years, or of an average of £2,165 per annum. This statement
+will, however, deceive those who rely on it, for two reasons. The year
+1859, as already pointed out, is exceptional; and another return, No.
+67, 1870, made to the House of Commons (see page 150) shows that,
+inclusive of this anomalous gain, the silver coinage has been a source
+of loss to the country to the exact average amount of 17_s._ 6_d._
+on each £100 purchased for coinage. In printing this return I have
+made it up to 1868, omitting the year 1869, which alone shows a loss
+of £120,000, and must therefore be an incomplete return. It is to be
+regretted that the Government refused on two occasions a return of the
+account of losses on silver manufacture, because such a return would
+have included loss by assay as well as loss by coining and melting.
+The refusals were undoubtedly based on fear of exposure, because the
+return can be given readily—that they can be given, is proved by the
+fact that I have read the accounts in the bill books at the Mint, and
+have copies of such entries. Lord Lansdowne was instructed to state
+that no such accounts are kept. The subterfuge of the Mint Authorities
+consists in the fact that Lord Kinnaird has not asked for the return
+in the precise words in which the account is kept; it cannot, however,
+be again refused if moved for as “transferred from the account of the
+Mint expenses, for the satisfaction of the Audit Office to account for
+the waste or loss by coining silver.” If the Mint Authorities will
+place the bill book of the Royal Mint before me for a few hours, I
+will compile the table. Such a return would exhibit the fact that in
+the five years last past, the loss by misplacement and mismanagement
+exceeds £1,867 3_s._ 10¾_d._ per million coined; it would show that
+the average amount of loss reaches 3_s._ 9¾_d._ for each £100 coined,
+such sum being in fact about one-third of the total sum charged by the
+contractors who conduct the coinage in Paris for France. The contractor
+for the Paris Mint, in his charge, includes loss of silver by coining,
+melting, and assay, wear and tear of machinery, wages to workmen for
+labour, salaries and contingent expenses; and while bearing these
+charges, he makes a handsome
+
+     AN ACCOUNT OF THE SUMS ADVANCED IN EACH YEAR FROM THE
+     CONSOLIDATED FUND FOR THE PURCHASE OF BULLION FOR COINAGE;
+     AND OF THE SUMS PAID IN EACH YEAR TO THE ACCOUNT OF HER
+     MAJESTY’S EXCHEQUER AT THE BANK OF ENGLAND, IN REPAYMENT
+     THEREOF.—(PURSUANT TO ACT 7 WILL. 4, C. 9.)
+
+    +-----+------------------+-----------------+-----------------------+
+    |     | Amounts Advanced |Amounts Paid into|                       |
+    |Date.|     from the     |the Exchequer, in|       Remarks.        |
+    |     |   Consolidated   |  Repayment of   |                       |
+    |     |       Fund.      |    Advances.    |                       |
+    +-----+------------------+-----------------+-----------------------+
+    |     |      £    _s. d._|     £    _s. d._|                       |
+    |1837 |    22,000  0  0  |                 |                       |
+    |1838 |   196,029 19  4  |  168,029 19  4  |                       |
+    |1839 |   400,000  0  0  |  350,000  0  0  |                       |
+    |1840 |   170,000  0  0  |  175,000  0  0  |                       |
+    |1841 |   100,000  0  0  |  135,000  0  0  |                       |
+    |1842 |   180,000  0  0  |  162,120  4  0  |                       |
+    |1843 |   350,000  0  0  |  265,000  0  0  |                       |
+    |1844 |   550,000  0  0  |  501,389 17  0  |                       |
+    |1845 |   850,000  0  0  |  678,772  2  9  |                       |
+    |1846 |   300,000  0  0  |  429,937  1 11  |                       |
+    |1847 |   100,000  0  0  |  217,033 10  2  |                       |
+    |1848 |                  |   18,534  3  1  |        As given       |
+    |1849 |   150,000  0  0  |  120,000  0  0  |     in detail in      |
+    |1850 |   150,000  0  0  |  120,000  0  0  |        previous       |
+    |1851 |   100,000  0  0  |  187,213  1  1  |        Returns.       |
+    |1852 |   391,970  0  8  |  191,970  0  8  |                       |
+    |1853 |   508,029 19  4  |  550,000  0  0  |                       |
+    |1854 |   100,000  0  0  |  200,000  0  0  |                       |
+    |1855 |   250,000  0  0  |  300,000  0  0  |                       |
+    |1856 |   450,000  0  0  |  450,000  0  0  |                       |
+    |1857 |   420,000  0  0  |  350,000  0  0  |                       |
+    |1858 |   400,000  0  0  |  400,000  0  0  |                       |
+    |1859 |   550,000  0  0  |  650,000  0  0  |                       |
+    |1860 |   270,000  0  0  |  150,000  0  0  |                       |
+    |1861 |   400,000  0  0  |  550,000  0  0  |                       |
+    |1862 |   400,000  0  0  |  350,000  0  0  |                       |
+    |1863 |   250,000  0  0  |  250,000  0  0  |                       |
+    |1864 |   600,000  0  0  |  630,000  0  0  |                       |
+    |1865 |   520,000  0  0  |  460,000  0  0  |                       |
+    |1866 |   410,000  0  0  |  510,000  0  0  |                       |
+    |1867 |   300,000  0  0  |  250,000  0  0  |                       |
+    |1868 |   220,000  0  0  |  200,000  0  0  |                       |
+    +-----+------------------+-----------------+-----------------------+
+    |  32 |10,058,029 19  4  |9,970,000  0  0  |_Loss_,                |
+    |Years|                  |                 |=£88,029 19s. 4d. 17/6=|
+    |     |                  |                 |_on the_ =£100=        |
+    +-----+------------------+-----------------+-----------------------+
+                   C. W. FREMANTLE, DEPUTY MASTER OF THE MINT.
+    ROYAL MINT, _18th February, 1870_.
+
+profit, his total sum for all being 15_s._ for each £100 coined. Is it
+probable that the contractor would tolerate a charge of 3_s._ 9¾_d._
+for loss alone out of a total of 15_s._ Since the Government refuses
+figures, imagination alone can tell what is the loss in the Royal Mint;
+yet in the face of such facts Mr. Lowe accepts contracts as against
+the French contractor to whom he sends Commissioners—one of whom
+experienced “great difficulty in obtaining accurate information with
+regard to the amount of loss that accrues” on gold and silver—that he
+may instruct them in the cost of manufacture. Does a banker make known
+his secrets? He may permit you to stand at his counter and see cheques
+paid, but “thus far and no farther” is the guiding principle. Mr.
+Lowe’s contract notions have been already noticed.
+
+To return, then, to facts admitted by the Government, and presented
+to the House of Lords in obedience to Lord Kinnaird’s motion; the
+return numbered 30, 1870, clearly demonstrates that there is, under
+the management of the present officers, and has been for the last five
+years (see pages 144-145), an average loss by coining of £401, and
+by melting, of £916, or a total of £1,317 on each million of silver
+coined. By way of contrast, it should be noticed that this return
+exhibits the fact that, when the Mint was under my management—between
+April 1857 and March 1860—the total average loss, under circumstances
+every way similar, was but £395 4_s._, inclusive of “melting and the
+losing operations,” for each million of silver coined. Well may the
+Government refuse a return which, at the smallest possible computation,
+would EXHIBIT AN UNNECESSARY WASTE TO THE EXTENT OF £922 ON EACH
+MILLION OF SILVER COINED, OR EXACTLY £3,144 ON THE SILVER CONCERNED IN
+THE RETURN No. 157, 1869, quoted at page 149.
+
+The unnecessary waste here displayed is not the only reason why silver
+yields no final profit or seigniorage—and the foregoing statements
+clearly demonstrate that Lord Kinnaird has not misunderstood the
+accounts. The great reason of the loss occasioned by the silver
+coinage, both by manufacture and by seigniorage, is want of knowledge
+on the part of the Mint officials, for it can require but little
+argument to show that that which costs 61_d._ and sells for 66_d._,
+must, if properly manufactured, yield an absolute profit. So, to
+demonstrate more clearly the exact case, we will take the real cost of
+the silver for 1868 and see what profit this should have afforded, and
+then Lord Lansdowne will perhaps explain why the loss arises, for this
+return (see page 154) is perfectly free from all manufacturing details,
+and does not include wages, officers’ salaries, or contingent expenses;
+it simply states the bald fact that so much silver was bought and
+converted into coined money, and by deducting one from the other there
+is demonstrated an actual loss of £10,896 12_s._ Now the amount bought
+was in real intrinsic value £312,252 12_s._, and this produced in
+coined silver money £301,356. It has been shown in the return now under
+comment that silver fetched at that period (1859-1868) 61⅜_d._ per
+ounce, which, expressed in decimals, will be 61·375_d._, and silver,
+by the Act of Parliament, is so coined as that each ounce is converted
+into money of a nominal value of 66_d._, such extrinsic value being
+given to silver because it is a token currency, and as such is a legal
+tender to the limited extent of £2. The difference, then, between
+66_d._ and 61·375_d._ is 4·625; if, therefore, 61·375 gives a profit
+of 4·625, it follows that 100 should give 7·535; but for the sake of
+simplicity we will consider this profit as at the rate of 7½ per cent.;
+then £312,252 12_s._ at 7½ per cent., should yield £23,418 18_s._
+10¾_d._, yet not only was the profit lost, but, in addition, there
+is a recorded—admitted—loss of £10,896 12_s._, which, added to the
+loss of profit, brings that total to £34,315 10_s._ 10¾_d._; but that
+Lord Lansdowne may not be unfairly pressed, Lord Kinnaird expressed
+willingness to deduct from this sum the amount of loss entailed that
+year by recoinage (see * below) and which was £18,058 9_s._ 6_d._,
+leaving thereby an irretrievable loss of exactly £16,257 1_s._ 4¾_d._,
+on that year alone.
+
+NO. 262.—RETURN TO AN ORDER OF THE HONOURABLE THE HOUSE OF COMMONS,
+DATED 30TH MAY, 1870. (MR. AYRTON, PAGE 5.)
+
+_Worn Silver Coin Purchased for Re-coinage._
+
+    +----+-----------+-----------------+---------------+---------------+
+    |Date|  Weight.  |  Nominal Value. |Mint Value at  |   Loss by     |
+    |    |           |                 |5/6 per Ounce. |  Re-Coinage.  |
+    +----+-----------+-----------------+---------------+---------------+
+    |    |  Ounces.  |     £    _s. d._|   £    _s. d._|   £    _s. d._|
+    |1860| 357902·538|  113,000  0  0  | 98,423  3  9  | 14,576 16  3  |
+    |1861| 308873·077|   97,600  0  0  | 84,940  1 10  | 12,659 18  2  |
+    |1862| 425591·682|  135,000  0  0  |117,037 14  3  | 17,962  5  9  |
+    |1863| 324674·838|  102,800  0  0  | 89,285 11  5  | 13,514  8  7  |
+    |1864| 388388·152|  123,500  0  0  |106,806 14 10  | 16,693  5  2  |
+    |1865| 292496·983|   93,000  0  0  | 80,436 13  4  | 12,563  6  8  |
+    |1866| 361280·187|  115,000  0  0  | 99,352  1  0  | 15,647 19  0  |
+    |1867| 376142·927|  120,000  0  0  |103,439  6  0  | 16,560 14  0  |
+    |1868| 388878·297|  125,000  0  0  |106,941 10  6  | 18,058  9  6  |
+    |1869| 325976·928|  105,000  0  0  | 89,643 13  0  | 15,356  7  0  |
+    +----+-----------+-----------------+---------------+---------------+
+    |    |3550205·609|1,129,900  0  0  |976,306  9 11  |153,593 10  1  |
+    +----+-----------+-----------------+---------------+---------------+
+
+_The Yearly Average Price paid per Ounce for Silver Bullion purchased
+in the Market for Coinage in the Years 1860 to 1869, both inclusive,
+was as follows:—_
+
+    +-----+-----+-----+-----+-----+-----+-----+-----+-----+-------+
+    |1860.|1861.|1862.|1863.|1864.|1865.|1866.|1867.|1868.| 1869. |
+    +-----+-----+-----+-----+-----+-----+-----+-----+-----+-------+
+    | _d._| _d._| _d._| _d._| _d._| _d._| _d._| _d._| _d._|  _d._ |
+    | 61¾ | 61½ | 61½ | 61½ | 61¼ | 61  | 61⅞ | 60¾ | 60⅞ | 60⁶/₁₆|
+    +-----+-----+-----+-----+-----+-----+-----+-----+-----+-------+
+
+_The amount of Seigniorage paid into the Exchequer in the years 1860 to
+1869, has been,—_
+
+    +--------------+------------+-------------+-----------+------------+
+    |     1860.    |   1861.    |    1862.    |   1863.   |   1864.    |
+    |              |            |             |           |            |
+    +--------------+------------+-------------+-----------+------------+
+    |  £   _s. d._ | £   _s. d._|  £   _s. d._| £  _s. d._| £   _s. d._|
+    |27,134 1  8   |4,961 7  5  |11,227 6  2  |211 13  4  |6,160 6  8  |
+    +--------------+------------+-------------+-----------+------------+
+    +--------------+-------------+-------------+-------------+
+    |    1865.     |    1866.    |    1867.    |    1868.    |
+    |              |             |             |             |
+    +--------------+-------------+-------------+-------------+
+    |   £   _s. d._|  £   _s. d._|  £   _s. d._|  £   _s. d._|
+    |57,645 17  9  |28,630 0  5  |4,331 10  7  |18,622 7  4  |
+    +--------------+-------------+-------------+-------------+
+    +--------------+----------------+
+    |     1869.    |     Total.     |
+    |              |    1860-69.    |
+    +--------------+----------------+
+    |  £   _s. d._ |    £    _s. d._|
+    |12,345 4  10  | 171,269 16  2  |
+    +--------------+----------------+
+                       C. W. FREMANTLE, DEPUTY MASTER OF THE MINT.
+    ROYAL MINT, _31st. May, 1870._
+
+Would Lord Lansdowne like to live on a _profit_ of such a description?
+Should his lordship still maintain his statement that there is a gain
+from seigniorage by coining silver, perhaps he will be so good as
+to explain why the Chancellor of the Exchequer asked last year for
+£1,000 to “defray the anticipated loss,” as well as £15,000 to pay the
+expenses of the recoinage, or “keeping the silver up to the required
+standard.” It has been stated that this return is false—it is surely a
+grave matter to make a false return to Parliament, in itself a crime
+which should be inquired into and punished.
+
+The loss thus exhibited is entailed solely because the Master of the
+Mint habitually wishing to keep things quiet, refuses all Parliamentary
+enquiry, and contents himself with so-called retrenchment because he
+deducts £100 a year from the Mint workmen.
+
+A continuation of the return to which Lord Kinnaird drew attention has
+been presented, No. 262, 1869, signed by Mr. Fremantle. Singular to
+relate, this is not merely _a continuation_, for it gives information
+in regard to seigniorage, and Mr. Fremantle has amended the account
+made by Mr. Graham; thus a return presented to Parliament has been
+altered by Mr. Fremantle without comment, and now exhibits results
+directly opposed to those shown for the same years by Mr. Graham. The
+words at the head of the column are, for some reason which does not
+appear, also altered, but the “real cost” of metal must mean the same
+as the “total amount paid” for it. I have, therefore, compiled from
+each a statement of the profit and loss; but I reproduce the figures
+presented in the one case by Mr. Thomas Graham, and in the other by Mr.
+C. W. Fremantle, BOTH RELATING TO THE SAME ACCOUNT, and both supposed
+to be accurate (see page 154).
+
+It is necessary that I should state that Mr. Graham had been dead
+more than a year when his accounts were altered, in the manner now
+to be explained. If _his_ returns were correct, Mr. Fremantle’s must
+be _incorrect_, or, “adjusted,” as Mr. Roberts would style it. If
+reference be made to the table on page 154, it will be seen that by
+the return No. 157, Mr. Graham showed a loss to the extent of £5,373
+4_s._ 6_d._ on nine years’ (1860-1868) silver coinage. Now, Lord
+Kinnaird explained that return fully to the House, and, to prove his
+accuracy, produced the return No. 30, which will be found on page 150.
+Considerable astonishment was caused by such facts, but no reply was
+given. However, it now appears by the return No. 262, which I print
+under No. 157, and on the same page, that Mr. Fremantle has found the
+means to convert Mr. Graham’s _loss_ into an absolute GAIN of so large
+an amount as £1,011,668 2_s._ 0_d._, and _that without any word of
+explanation_. The returns thus placed together are so contradictory,
+that I confess I utterly failed to unravel them, and therefore
+submitted them to more than one banker, several merchants, and,
+finally, to a professional accountant, not one of whom could suggest a
+key to the extraordinary process which has been adopted.
+
+       NO. 157.—RETURN TO AN ORDER OF THE HONOURABLE THE
+       HOUSE OF COMMONS, DATED 21ST APRIL, 1869, FOR ACCOUNT “OF
+       ALL GOLD, SILVER, AND COPPER MONEYS OF THE REALM COINED AT
+       THE MINT, FOR EACH YEAR FROM THE 1ST JANUARY, 1859, TO THE
+       31ST OF DECEMBER, 1868, &C.,” IN CONTINUATION OF NO. 340,
+       1867-68. (MR. AYRTON, PAGE 3.)
+
+    ----+-----------------+-----------------+--------------+--------------
+    Date|  Total Value of |  Real Cost or   |  Profit on   |   Loss on
+        |  Silver Coined. |  Value of Metal.|   Coinage.   |   Coinage.
+    ----+-----------------+-----------------+--------------+--------------
+        |     £    _s. d._|      £   _s. d._|   £   _s. d._|  £    _s. d._
+    1860|  218,403  7  0  |  222,981  1  6  |              | 4,577 14  6
+    1861|  209,484  0  0  |  215,029  0 10  |              | 5,545 0  10
+    1862|  148,518 11 10  |  159,948  2  6  |              |11,429 10  8
+    1863|  161,172  0  0  |  171,855 15  0  |              |10,683 15  0
+    1864|  535,194  0  0  |  521,003  5  0  |14,190 15   0 |
+    1865|  501,732  0  0  |  483,861 13  6  |17,870  6   6 |
+    1866|  493,416  0  0  |  486,113 15  2  | 7,302  4  10 |
+    1867|  193,842  0  0  |  195,445 17 10  |              | 1,603 17 10
+    1868|  301,356  0  0  |  312,252 12  0  |              |10,896 12  0
+    ----+-----------------+-----------------+--------------+--------------
+        |2,763,117 18 10  |2,768,491  3  4  |39,363 6 4    |44,736 10 10
+    ----+-----------------+-----------------+--------------+--------------
+     Deduct Profit, when there remains Absolute Loss         5,373  4  6
+    ----------------------------------------------------------------------
+                                 THO. GRAHAM, MASTER OF THE MINT.
+        ROYAL MINT, _19th April, 1869_.
+
+NO. 262.—RETURN TO AN ORDER, &C., DATED 30TH MAY, 1870, &c., IN
+CONTINUATION OF PAPER NO. 157, OF SESSION 1868-9. (MR. STANSFELD, PAGE
+3.)
+
+    +-------+-------------------+---------------------+
+    | Date. |  Total Value of   | Total Amount Paid   |
+    |       |  Silver Coined.   | for Silver Bullion. |
+    +-------+-------------------+---------------------+
+    |       |     £    _s.   d._|      £   _s.   d._  |
+    | 1860  |  218,403   7   0  |   141,112  7  11    |
+    | 1861  |  209,484   0   0  |   100,327 11   0    |
+    | 1862  |  148,518  11  10  |    51,165 19  11    |
+    | 1863  |  161,172   0   0  |    53,134 12   7    |
+    | 1864  |  535,194   0   0  |   445,191 11   9    |
+    | 1865  |  501,732   0   0  |   416,524  6   9    |
+    | 1866  |  493,416   0   0  |   282,247 12   6    |
+    | 1867  |  193,842   0   0  |   181,000 17  11    |
+    | 1868  |  301,356   0   0  |    80,744 16   6    |
+    | 1869  |   76,428   0   0  |   135,083  0  11    |
+    +-------+-------------------+---------------------+
+    |       |2,839,545  18  10  | 1,886,532 17   9    |
+    +-------+-------------------+----------------------
+    +-------+--------------------+------------------+
+    | Date. |     Profit on      | Loss on Coinage. |
+    |       |      Coinage.      |                  |
+    +-------+--------------------+------------------+
+    |       |      £   _s.  d._  |    £   _s.  d._  |
+    | 1860  |    77,290 19  1    |                  |
+    | 1861  |   109,156  9  0    |                  |
+    | 1862  |    97,352 11 11    |                  |
+    | 1863  |   108,037  7  5    |                  |
+    | 1864  |    90,002  8  3    |                  |
+    | 1865  |    85,207 13  3    |                  |
+    | 1866  |   211,168  7  6    |                  |
+    | 1867  |    12,841  2  1    |                  |
+    | 1868  |   220,611  3  6    |                  |
+    | 1869  |                    |  58,655 0  11    |
+    +-------+--------------------+------------------+
+    |       | 1,011,668  2 0 (‡‡)|  58,655 0  11    |
+    +-------+--------------------+------------------+
+    C. W. FREMANTLE, DEPUTY MASTER OF THE MINT.
+      ROYAL MINT, _31st May, 1870_.
+
+The return contains another enigma. For, whereas Mr. Fremantle, on page
+3 of the return in which he has amended Mr. Graham’s figures, exhibits
+profit to the extent of £1,011,668 2_s._ 0_d._ in place of Mr. Graham’s
+loss of £5,373 4_s._ 6_d._—but there being a loss of £58,655 0_s._
+11_d._ on his own year’s coinage, the substituted profit(‡‡) must be
+reduced by that amount, when it will be £953,013 1_s._ 1_d._ Again,
+page 5, he gives a tabular statement (see page 152), by which he shows
+that £171,269 16_s._ 2_d._ went to the Exchequer as seigniorage, while
+the loss by recoinage amounted to £153,593 10_s._ 1_d._, leaving a
+total profit of £17,676 6_s._ 1_d._ What has become of the difference
+between this profit and that in the amended return?—a small matter
+perhaps, but which yet amounts to £917,659 8_s._ 11_d._ in ten years.
+If it were made it can be shown to have been legitimately disposed of,
+or is it simply an “official statement,” such as those which public
+companies have of late so frequently exhibited. If, however, that sum
+has been realised, why does Mr. Fremantle show separately the amount of
+seigniorage? There lies below a grave matter for inquiry why a Public
+Department should place before Parliament an altered account without
+one word of explanation. If Mr. Graham has put forward a false return,
+one greatly against himself, it is right that the matter should be
+investigated. If, on the other hand, Mr. Fremantle has placed figures
+on paper which have no representatives in coin, it is indeed a grave
+matter. In either case it goes to prove the necessity for a searching
+inquiry into the affairs of the Royal Mint.
+
+Lord Kinnaird does not stand alone in his view of the loss by the
+silver coinage, for Mr. William Miller, late Chief Cashier in the
+Bank of England, had, years since, arrived at the same conclusion,
+and produced at that time evidence to prove his statement. By the
+courtesy of Mr. George Forbes, at present Chief Cashier in the Bank of
+England, I am in possession of Mr. Miller’s statement (see p. 156):
+its perusal induces me to wish that Government officials would put
+forward statements as lucid. Mr. William Miller, in this table, adopts
+a process which I am assured is entirely legitimate, and by it educes
+the fact that “_the Government owes the silver coinage a million and a
+half, and not as an account_.” It is perfectly true that the profit,
+if made, is not supposed to be placed at interest; but it is also the
+fact that the profit _has never been realised_, hence the loss of both
+capital and interest. His calculations are those of an accountant,
+and by them he argues that if the £6,493,000 of silver coinage had
+produced its legitimate gain, there would have accrued by it, and
+the interest thereon, a sum of =£3,880,000= clear profit: he then
+proceeds to show how that profit has been disposed of. Being himself
+aware of the amount of loss by worn coins culled from circulation, he
+states it at £255,000; and estimating the loss on that which remains
+current, to be eliminated in its turn, at £910,000, shows a loss by
+wear and tear of £1,165,000. The details for the complete study of this
+table will be found in page 65, where every information is given in
+precise figures, while in this he adopts whole numbers, and proceeds
+to reason out the entire matter. That he may not press the Government,
+he assumes an extreme rate for the expense of coinage—varying from 2¼
+to 3½ per cent., while the real cost is about O·75 per cent.—and adds
+to that amount the interest thereon, then deducting the total of these
+sums from the £3,880,000 which should have arisen, he shows a balance
+£1,411,000 which the Government owes to the silver coinage. While Mr.
+Miller’s table on page 65 shows an average loss by wear on the silver
+coinage current since 1816, at the rate of 24·31 per cent. in a hundred
+years, and on that of George III.—_the most worn_—of 98·34 per cent.,
+the Mint—receiving its culled coin from the Bank of England—states its
+loss at the rate of 135·93 per cent. in the same period (see return, p.
+152).
+
+    THE GOVERNMENT IN ACCOUNT WITH THE SILVER COINAGE.
+
+    COINED IN THE REIGN OF GEORGE III.:—
+        Crowns                                    £322,000
+        Half-Crowns                              2,387,000
+        Shillings                                3,304,000
+        Sixpences                                  919,000
+                                                ----------
+                                                £6,932,000
+                                                ==========
+
+Supposing the cost of the Silver to have been 5_s._ 1_d._ an ounce
+in the new money, there would remain 5d. per ounce as profit to the
+Government. That 5_d._ would be about 7·57 per Cent. on the amount
+coined.
+
+      7·57 per Cent. on £6,932,000       =    £525,000
+      Compound Interest thereon at
+       3½ per Cent. for 43 Years, the
+        true Average Number of Years         1,779,000
+        as nearly as can be made out         --------- 2,304,000
+
+    COINED IN THE REIGN OF GEORGE IV.:—
+        Crowns                       141,000
+        Half-Crowns                1,114,000
+        Shillings                    879,000
+        Sixpences                     81,000
+                                  ----------
+        7·57 per Cent. on         £2,215,000 = £168,000
+                                  ==========
+        Compound Interest at 3½ for 35 Years    392,000
+                                               --------   560,000
+
+    COINED IN THE REIGN OF WILLIAM IV.:—
+        Half-Crowns                  381,000
+        Shillings                    412,000
+        Sixpences                    282,000
+                                  ----------
+        7·57 per Cent. on         £1,075,000 =  £81,000
+                                      =========
+        Compound Interest at 3½ for 15 years    111,000
+                                                --------  192,000
+
+    COINED IN THE REIGN OF VICTORIA:—
+        Crowns                       117,000
+        Half-Crowns                1,043,000
+        Florins                    1,541,000
+        Shillings                  2,610,000
+        Sixpences                  1,182,000
+                                  ----------
+         7·57 per Cent. on        £6,493,000 = £492,000
+                                  ==========
+         Compound Interest at 3½ for 15 Years             332,000
+                                                           ------
+                                                                 824,000
+                                                              ----------
+                                                              £3,880,000
+                                                              ==========
+
+    LOSS BY WEAR:—
+        On amount remaining in Circulation        £910,000
+        Ditto withdrawn from Circulation           255,000
+                                                  --------   £1,165,000
+
+    EXPENSES OF COINAGE:—
+        Crowns and Half-Crowns at         124,000
+               2¼ per Cent.
+        Shillings at                      205,000
+               2·85 per Cent.                     -------
+                                                   329,000
+        Compound Interest thereon, 30 Years        594,000
+        at 3½ per Cent.                           --------      923,000
+
+        Sixpences at 3¼ per Cent.                   80,000
+        Compound Interest thereon, 26 Years        116,000
+        at 3¼ per Cent.                           --------      196,000
+
+        Florins at 2½ per Cent.                     39,000
+        Compound Interest thereon, 5 Years           5,000
+        at 3¼ per Cent.                           --------       44,000
+
+        7·57]per Cent. on the amount of Silver
+        recoined at the Government’s expense       100,000
+        (£1,316,500) Compound Interest,             41,000
+         at 3½ per Cent. for Average of 10 Years  --------      141,000
+                              Balance                         1,411,000
+                                                             ----------
+                                                             £3,880,000
+                                                             ==========
+
+          I communicate this Statement as my grounds
+          for the Estimate that the Government owes the
+          Silver Coinage a million and a half, and not
+          as an Account.
+
+    _December, 1860._                                W. MILLER.
+
+It has been proposed to reap a harvest of profit from the silver
+coinage, just as was done with the bronze coinage, but with this
+difference—that whereas the old _copper_ pennies, when alloyed with
+tin and zinc, made TWO BRONZE pennies, thus making the profit by a
+diminution of weight, the present suggestion is to reduce the amount
+of silver in the silver coinage, and so to get profit by converting
+the old coinage into a new one of lower standard. So long as silver
+is only a token it can make no difference in matter of fact whether
+that token be intrinsically worth sixpence, eightpence, or tenpence,
+so that it represents and is legally payable for the twentieth part
+of a pound up to a fixed amount; but in another light the lowering of
+the standard has a very material interest to the people, and in this
+way. If those coinages which are made of different alloys from our own,
+that is, in different proportions of silver and copper, be examined, it
+will be found that none of them _wear_ so well as our own. Elaborate
+experiments, carefully made, determined that silver, when alloyed with
+copper in the proportion of 222 of the former to 18 of the latter,
+formed the most fitting alloy. Tested by practice in the pocket,
+those experiments are demonstrated to have been justly performed, and
+that their results were accurate. It is worthy of remark, that in the
+reign of Edward III. these proportions formed the _Old Standard_,
+showing that long anterior to that period it had been used, although
+no record is preserved. It is also certain that these same proportions
+were used in many subsequent reigns, and we can but suppose that our
+ancestors had their wise reasons for arriving at such a standard.
+Indeed, Mr. Hatchett, in his elaborate experiments on gold and silver
+coins, arrived at the conclusion that metal of medium ductility was
+best fitted for the manufacture of coined money. He recommended the
+preserving of the present standard for gold on that ground, and fails
+to make any remarks as to silver; hence it may be fairly assumed that
+he considered it the best for its purpose. It is, however, certain that
+pure silver is too ductile, while silver alloyed with 20 per cent.
+is really as ductile as pure silver, and in our present standard we
+appear to have the medium impliedly recommended by Mr. Hatchett. The
+old proportion was again adopted for our standard of silver coin when,
+by the Act Geo. III. cap. 68, sec. 4, it was enacted that 66 shillings
+shall be made from the pound troy of silver of the standard of 11 oz.
+2 dwts. of fine silver and 18 dwts. of alloy. The alteration proposed
+has varied from a mixture of 10 per cent. to one of 20 per cent. of
+alloy. Now, one of these is a minute alteration, but in such matters
+it is surprising to the uninitiated to find how small a variation of
+proportion effects a great change in character; take, for instance,
+the difference in qualities of steel, where the proportion best fitted
+for each purpose must be used, or waste is incurred. In cases where
+the metal is required for cutlery a different steel is selected from
+that which is used for the manufacture of dies, and yet the difference
+consists in a minute proportion of carbon, to be detected only by
+analysis. So with the alloy of silver; and, if a profit be made by
+reducing the proportion of silver, a greater loss will take place by
+wear and tear, and the people pay for this, because the profit on a
+silver coinage depends on the length of the period during which the
+coins wear. Should a change be effected, it is to be hoped that it will
+not be based on the series of experiments lately conducted in the Royal
+Mint, and which were simply determinations of how much grinding each
+alloy could bear under different circumstances, there being no doubt
+that the proper mode is to let some thousands of coins be carried by
+careful observers in their pockets in the ordinary mode of carrying
+money, and at intervals to weigh those coins and see their loss, as
+well as to examine them for their deterioration in an artistic point.
+For it should not be forgotten that the act of coining is an important
+act of Sovereignty, and should be properly performed, that the
+Monarch may not appear to be held in light esteem. The ordinary wear
+encountered in the use of coins by shopkeepers could also be tested
+without risk or trouble. We as a people need not debase our coinage
+simply for the sake of a first gain, for, if that be the object, the
+Government might as well contract for advertisements, and thus make
+profit; but it may fairly be doubted whether our shillings would be
+improved in appearance if they were substituted for paving-stones,—the
+late favourite medium for advertising. Yet, if gain alone is to be the
+consideration, these points should be determined. It appears to be the
+object of a coinage to make a medal which shall best encounter wear and
+tear without loss or deterioration. This, we know, is best gained by
+employing artists of the highest talent, and coiners who know how to
+give effect to the artist’s intention. It is almost indisputably the
+fact that this has never been so well performed as in the shillings
+of William Wyon, designed after the bust by Chantry, and which coins,
+to this day, far surpass those of subsequent coinages in every way.
+The remarks of Mr. Pepys seem to be quite fitting if applied to our
+present coinage, and demonstrate how truthfully it has been said that
+history reproduces itself; for on Feb. 20, 1660, he says:—“... where
+we met with Mr. Slingsby, who showed me the stamps of the King’s new
+coyne; which is strange to see, how good they are in the stamp, and
+bad in the money for lack of skill to make them. But he says Blondeau
+will shortly come over, and then we shall have it better, and the best
+in the world.” The protecting edge should be raised and thick, and the
+work of the die well sunk, as then by friction less surface is exposed,
+and the coin would not only last longer in circulation, but would
+during its whole existence carry the image and superscription. While
+this improvement should be effected, the note of Mr. Pepys, on the
+23rd November, 1663, should not be forgotten, for he says, with great
+point:—“... with Alderman Backewell talking of the new money, which
+he says will never be counterfeited, he believes; but it is so deadly
+inconvenient for telling, it is so thick, and the edges are made to
+turn up.” Mr. Backewell had become accustomed to the _hammered_ money,
+and felt the thickness of the _milled_; but we have found the advantage
+of the milled money, and do not like it when, after a short existence,
+it becomes as thin as the hammered money was. The protecting edge not
+only protects the design on the coin, but it also makes the coin more
+difficult of bending, and bent coins are troublesome.
+
+In former reigns unwise counsels have prevailed, and the coinages have
+been tampered with; but the invariable event has been disaster, as
+has been clearly shown by Mr. Lowndes, who says:—“Although the former
+debasements of coins by public authority, especially those in the
+reigns of King Henry the Eighth and King Edward the Sixth, might be
+projected for the profit of the Crown, and the projectors might measure
+that profit by the excessive quantities of alloy that were mixed with
+the silver or gold, and although this was enterprised by a Prince who
+could stretch his prerogative very far upon his people, and was done
+in times when this nation had very little commerce, inland or foreign,
+to be injured or prejudiced thereby, yet experience presently showed
+that the projectors were mistaken, and that it was absolutely necessary
+to have the base moneys reformed; the doing whereof was begun by King
+Edward the Sixth himself, carried on by King Philip and Queen Mary,
+and happily finished (though not without great charge, vexation, and
+trouble, the only offspring of such designs) by Queen Elizabeth, who
+(as is noted above) in the third year of her reign, when money was not
+plentiful, erected a distinct Mint in the Tower to convert the base
+(not counterfeit money) into sterling;” and continuing, he says:—
+
+“Thirdly. Because making of base money will disgrace this Government
+in future generations, the critics in every age being apt to estimate
+the goodness or badness of ancient Governments by their coin, as hath
+been done, especially in the case of the Romans, and a temptation of
+this kind ought not to be left for future ages, to the prejudice of the
+honour of the present King.”
+
+Surely, with such experience before him, the Chancellor of the
+Exchequer cannot wish to persevere with his proposal—which can hardly
+be called original—to debase our gold coinage, when such a measure has
+been so deliberately condemned by experience in former periods.
+
+STATEMENT OF WORK PERFORMED IN THE COINING DEPARTMENT BETWEEN OCTOBER
+1ST, 1857, AND MARCH 31ST, 1858, INCLUSIVE.
+
+The Coinage was completed in 63 Days. The Value of the coined Silver
+was £234177·96875.
+
+                         IN ROLLING ROOM.
+    +---------------------------+--------------------------------------+
+    |         RECEIVED.         |          RETURNED.                   |
+    +---------------------------+---------------+-----------+----------+
+    |                           |                |  As by    | As by   |
+    |                           |                | Rolling   |  Mint   |
+    |                           |                |  Room     | Office  |
+    |                           |                |  Beam.    |  Beam.  |
+    +---------------------------+----------------+-----------+---------+
+    |    Bars for Florins.      |                |           |         |
+    |                    Ounces.|                |  Ounces.  | Ounces. |
+    |  As by Mint    }          |                |           |         |
+    | Office Beam.   } 761202·00| Florin Fillets | 728342·56 |         |
+    |                           |                |           |         |
+    | As by Rolling  } 761212·67|   ”    Ends    |  32956·95 | 32956·90|
+    | Room Beam.     }          |                |           |         |
+    |                  ---------+                +-----------+         |
+    |Showing a plus  }          |   Deduct      }|           |         |
+    |   difference.  }     10·67| “received.”   }| 761299·51 |         |
+    |                           |                +-----------+         |
+    |                           |   Increase    }|           |         |
+    |    Bars for Shillings.    | during work.  }|     86·84 |         |
+    |                    Ounces.|                |           |         |
+    |  As by Mint    }          |                |           |         |
+    | Office Beam.   } 528613·00|Shilling Fillets| 504599·40 |         |
+    |                           |                |           |         |
+    |  As by Rolling }          |                |           |         |
+    |  Room Beam.    } 528617·25|     ”    Ends  |  24081·80 | 24081·91|
+    |                  ---------+                +-----------+         |
+    |Showing a plus  }          |   Deduct      }|           |         |
+    |  difference.   }      4·25| “received.”   }| 528681·20 |         |
+    |                           |                +-----------+         |
+    |                           |   Increase    }|           |         |
+    |    Bars for Sixpences.    | during work.  }|     63·95 |         |
+    |                                            |           |         |
+    |                    Ounces.|                |           |         |
+    |   As by Mint   }          |                |           |         |
+    |  Office Beam.  } 175644·00|Sixpenny Fillets| 168666·70 |         |
+    |                           |                |           |         |
+    |  As by Rolling }          |                |           |         |
+    |   Room Beam.   } 175644·54|     ”    Ends  |   7003·10 |  7003·07|
+    |                  ---------+                +-----------+         |
+    |Showing a plus  }          |   Deduct      }|           |         |
+    |  difference.   }      0·54| “received.”   }|175669·80  |         |
+    |                           |                +-----------+         |
+    |                           |   Increase    }|           |         |
+    |  Bars for Threepences.    | during work.  }|     24·26 |         |
+    |                    Ounces.|                |           |         |
+    | As by Mint     }          | Threepenny    }|           |         |
+    |  Office Beam.  }  33643·00|   Fillets.    }|  32661·25 |         |
+    |                           |                |           |         |
+    | As by Rolling  }          | Threepenny    }|           |         |
+    |  Room Beam.    }  33642·20|    Ends.      }|    987·55 |   987·55|
+    |                  ---------+                +-----------+---------+
+    |Showing a minus }          |   Deduct      }|           |         |
+    |  difference.   }      0·80| “Received.”   }|  33648·80 |         |
+    |                           |                +-----------+         |
+    |                           |   Increase    }|           |         |
+    |                           | during work.  }|      6·60 | 65029·43|
+    +---------------------------+----------------+-----------+---------+
+
+                             IN CUTTING ROOM.
+    -----------------------------+-------------------------------------+
+                RECEIVED.        |            RETURNED.                |
+    -----------------------------+----------------+----------+---------+
+                                 |                |  As by   |  As by  |
+                                 |                | Cutting  |   Mint  |
+                                 |                |  Room    |  Office |
+                                 |                |  Beam.   |   Beam. |
+    -----------------------------+----------------+----------+---------+
+         Fillets for Florins.    |                |          |         |
+                        Ounces.  |                | Ounces.  | Ounces. |
+     As by Rolling }             |                |          |         |
+       Room Beam.  }    728342·56| Florin Blanks  |433013·65 |         |
+                                 |                |          |         |
+     As by Cutting }             |                |          |         |
+       Room Beam.  }    728339·29|   ”    Scissel |295327·34 |295327·98|
+                       ----------|                |----------|         |
+    Showing a minus}             |    Deduct     }|          |         |
+      difference.  }         3·27|  “received.”  }|728340·99 |         |
+                                 |                |----------|         |
+                                 |   Increase    }|          |         |
+        Fillets for Shillings.   | during work.  }|     1·70 |         |
+                                 |                |          |         |
+                        Ounces.  |                |          |         |
+     As by Rolling }             |                |          |         |
+       Room Beam.  }    504599·40| Shilling Blanks|320518·84 |         |
+                                 |                |          |         |
+     As by Cutting }             |                |          |         |
+       Room Beam.  }    504598·71|    ”    Scissel|184117·20 |184117·20|
+                       ----------|                |----------|         |
+    Showing a minus}             |    Deduct     }|          |         |
+      difference.  }         0·69|  “received.”  }|504636·04 |         |
+                                 |                |----------|         |
+                                 |   Increase    }|          |         |
+        Fillets for Sixpences.   | during work.  }|    37·33 |         |
+                                 |                |          |         |
+                        Ounces.  |                |          |         |
+     As by Rolling }             |   Sixpenny    }|          |         |
+       Room Beam.  }    168666·70|    Blanks.    }|101407·09 |         |
+                                 |                |          |         |
+     As by Cutting }             |   Sixpenny    }|          |         |
+       Room Beam.  }    168666·25|   Scissel.    }| 67271·99 | 67271·99|
+                       ----------|                |----------|         |
+    Showing a minus}             |    Deduct     }|          |         |
+      difference.  }         0·45|  “received.”  }|168679·08 |         |
+                                 |                |----------|         |
+                                 |   Increase    }|          |         |
+       Fillets for Threepences.  | during work.  }|    12·83 |         |
+                                 |                |          |         |
+                        Ounces.  |                |          |         |
+     As by Rolling }             |  Threepenny   }|          |         |
+       Room Beam.  }    32661·25 |    Blanks.    }| 19373·13 |         |
+                                 |                |          |         |
+     As by Cutting }             |  Threepenny   }|          |         |
+       Room Beam.  }    32661·25 |   Scissel.    }| 13293·73 | 13293·73|
+                       --------- |                |----------|---------|
+       Showing no  }             |    Deduct     }|          |         |
+      difference.  }        0·00 |  “received.”  }| 32666·86 |         |
+                                 |                |----------|         |
+                                 |   Increase    }|          |         |
+                                 | during work.  }|     5·61 |560010·90|
+    -----------------------------+----------------+----------+---------+
+
+                          IN WEIGHING ROOM.
+    +----------------------------+-------------------------------------+
+    |           RECEIVED.        |            RETURNED.                |
+    +----------------------------+----------------+-----------+--------+
+    |                            |                |   As by   | As by  |
+    |                            |                |  Weighing | Mint   |
+    |                            |                |    Room   |Office  |
+    |                            |                |   Beam.   |Beam.   |
+    +----------------------------+----------------+-----------+--------+
+    |     Blanks for Florins.    |                |           |        |
+    |                            |                |           |        |
+    |                   Ounces.  |                |  Ounces.  | Ounces.|
+    |  As by Cutting }           |                |           |        |
+    |  Room Beam.    } 433013·65 |Florin Blanks.  | 423988·43 |        |
+    |                            |                |           |        |
+    |As by Weighing  }           |                |           |        |
+    |  Room Beam.    } 433010·55 |Florin Rejected.|   9020·63 | 9020·63|
+    |                  --------- +                +-----------+        |
+    |Showing a minus }           |    Deduct    } |           |        |
+    |  difference.   }      3·10 |  “received.” } | 433009·06 |        |
+    |                            |                +-----------+        |
+    |                            |  Loss during } |           |        |
+    |    Blanks for Shillings.   |     work.    } |      1·49 |        |
+    |                            |                |           |        |
+    |                   Ounces.  |                |           |        |
+    |  As by Cutting             |                |           |        |
+    |  Room Beam.    } 320518·84 |Shilling Blanks.| 315492·95 |        |
+    |                            |                |           |        |
+    |As by Weighing  }           |   Shilling   } |           |        |
+    |  Room Beam.    } 320516·07 |   Rejected.  } |   5021·79 | 5021·79|
+    |                  --------- +                +-----------+        |
+    |Showing a minus }           |    Deduct    } |           |        |
+    |  difference.   }      2·77 |  “received.” } | 320514·74 |        |
+    |                            |                +-----------+        |
+    |                            |  Loss during } |           |        |
+    |    Blanks for Sixpences.   |     work.    } |      1·33 |        |
+    |                            |                |           |        |
+    |                   Ounces.  |                |           |        |
+    |  As by Cutting }           |   Sixpenny   } |           |        |
+    |  Room Beam.    } 101407·09 |    Blanks.   } |  99083·98 |        |
+    |                            |                |           |        |
+    |As by Weighing  }           |   Sixpenny   } |           |        |
+    |  Room Beam.    } 101406·65 |   Rejected.  } |   2223·63 | 2223·63|
+    |                  --------- +                +-----------+        |
+    |Showing a minus }           |    Deduct    } |           |        |
+    |  difference.   }      0·44 |  “received.” } | 101407·61 |        |
+    |                            |                +-----------+        |
+    |                            |    Increase  } |           |        |
+    |   Blanks for Threepences.  |  during work.} |      0·96 |        |
+    |                            |                |           |        |
+    |                   Ounces.  |                |           |        |
+    |  As by Cutting }           |  Threepenny  } |           |        |
+    |  Room Beam.    }  19373·13 |    Blanks.   } |  19326·87 |        |
+    |                            |                |           |        |
+    |As by Weighing  }           |  Threepenny  } |           |        |
+    |  Room Beam.    }  19372·96 |   Rejected.  } |     46·03 |   46·03|
+    |                  --------- +                +-----------+--------+
+    |Showing a minus }           |    Deduct    } |           |        |
+    |  difference.   }      0·17 |  “received.” } |  19372·90 |        |
+    |                            |                +-----------+        |
+    |                            |  Loss during } |           |        |
+    |                            |     work.    } |      0·06 |16312·08|
+    +----------------------------+----------------+-----------+--------+
+
+
+                            IN ANNEALING ROOM.
+    +---------------------------+--------------------------------------+
+    |          RECEIVED.        |            RETURNED.                 |
+    +---------------------------+---------------+-----------+----------+
+    |                           |               |   As by   |  As by   |
+    |                           |               | Annealing |   Mint   |
+    |                           |               |   Room    |  Office  |
+    |                           |               |   Beam.   |  Beam.   |
+    +---------------------------+---------------+-----------+----------+
+    |    Blanks for Florins.    |               |           |          |
+    |                           |               |           |          |
+    |                  Ounces.  |               |  Ounces.  | Ounces.  |
+    |As by Weighing }           |               |           |          |
+    |  Room Beam.   } 423988·43 | Florin Blanks | 423606·37 |          |
+    |                           |               |           |          |
+    |                           |     Loss of  }|           |          |
+    |As by Annealing}           |   Weight by  }|           |          |
+    |  Room Beam.   } 423984·25 | Annealing and}|    367·84 |          |
+    |                -----------+   Blanching. }|           |          |
+    |                           |               +-----------+          |
+    |Showing a minus}           |   Deduct     }|           |          |
+    |  difference.  }      4·18 | “received.”  }| 423974·21 |          |
+    |                           |               +-----------+          |
+    |                           | Loss          |     10·04 |          |
+    |    Blanks for Shillings.  |               |           |          |
+    |                           |               |           |          |
+    |                  Ounces.  |               |           |          |
+    |As by Weighing }           |               |           |          |
+    |  Room Beam.   } 315492·95 |Shilling Blanks| 315190·47 |          |
+    |                           |               |           |          |
+    |                           |     Loss of  }|           |          |
+    |As by Annealing}           |   Weight by  }|           |          |
+    |  Room Beam.   } 315490·42 | Annealing and}|    283·86 |          |
+    |                -----------+   Blanching. }|           |          |
+    |                           |               +-----------+          |
+    |Showing a minus}      2·53 |   Deduct     }| 315474·33 |          |
+    |  difference.  }           | “received.”  }|           |          |
+    |                           |               +-----------+          |
+    |                           | Loss          |     16·09 |          |
+    |    Blanks for Sixpences.  |               |           |          |
+    |                           |               |           |          |
+    |                  Ounces.  |               |           |          |
+    |As by Weighing }           |   Sixpenny   }|           |          |
+    |  Room Beam.   }  99083·98 |     Blanks.  }|  98980·28 |          |
+    |                           |               |           |          |
+    |                           |     Loss of  }|           |          |
+    |As by Annealing}           |   Weight by  }|           |          |
+    |  Room Beam.   }  99083·67 | Annealing and}|    103·39 |          |
+    |                -----------+   Blanching. }|           |          |
+    |                           |               +-----------+          |
+    |Showing a minus}           |   Deduct     }|           |          |
+    |  difference.  }      0·31 | “received.”  }|  99083·67 |          |
+    |                           |               +-----------+          |
+    |                           | Loss          |      0·00 |          |
+    |    Blanks for Threepence. |               |           |          |
+    |                           |               |           |          |
+    |                  Ounces.  |               |           |          |
+    |As by Weighing }           |   Threepenny }|           |          |
+    |  Room Beam.   }  19326·87 |     Blanks.  }|  19304·08 |Supply.[123]|
+    |                           |               |           |          |
+    |                           |     Loss of  }|           |          |
+    |As by Annealing}           |   Weight by  }|           |          |
+    |  Room Beam.   }  19326·72 | Annealing and}|     22·64 |    47·67 |
+    |                -----------+   Blanching. }|           |          |
+    |                           |               +-----------+          |
+    |Showing a minus}           |   Deduct     }|           |          |
+    |  difference.  }      0·15 | “received.”  }|  19326·72 |          |
+    |                           |               +-----------+----------+
+    |                           | Loss          |      0·00 |    47·67 |
+    +---------------------------+---------------+-----------+----------+
+
+[Footnote 123: See page 162.]
+
+                               IN PRESS ROOM.
+    +---------------------------+-----------------------------------------+
+    |        RECEIVED.          |               RETURNED.                 |
+    +---------------------------+-----------------+----------+---------+
+    |                           |                 | As by    | As by   |
+    |                           |                 | Press    | Mint    |
+    |                           |                 | Room     | Office  |
+    |                           |                 | Beam.    | Beam.   |
+    +---------------------------+-----------------+----------+---------+
+    |    Blanks for Florins.    |                 |          |         |
+    |                           |                 |          |         |
+    |                  Ounces.  |                 |  Ounces. |  Ounces.|
+    |As by Annealing}           |                 |          |         |
+    |  Room Beam.   } 423606·37 |Florin Coin      |420367·28 |420278·40|
+    |                           |                 |          |         |
+    |As by Press    }           |                 |          |         |
+    |  Room Beam.   } 423606·37 |Florin Brockages.|  2951·76 |  3069·61|
+    |                -----------+                 |          |         |
+    |Showing no     }           |  Florin Pyx    }|          |         |
+    |  difference.  }      0·00 |    Pieces.     }|   283·86 |   283·86|
+    |                           |                 +----------+         |
+    |                           |    Deduct      }|          |         |
+    |                           |  “received.”   }|423602·90 |         |
+    |                           |                 +----------+         |
+    |                           |Loss             |     3·47 |         |
+    |    Blanks for Shillings.  |                 |          |         |
+    |                           |                 |          |         |
+    |                  Ounces.  |                 |          |         |
+    |As by Annealing}           |                 |          |         |
+    |  Room Beam.   } 315190·47 |  Shilling Coin  |313853·64 |313847·00|
+    |                           |                 |          |         |
+    |As by Press    }           |  Shilling      }|          |         |
+    |  Room Beam.   } 315190·47 |  Brockages.    }|  1227·88 |  1228·17|
+    |                -----------+                 |          |         |
+    |Showing no     }           |  Shilling Pyx  }|          |         |
+    |  difference.  }      0·00 |    Pieces.     }|   107·87 |   107·87|
+    |                           |                 +----------+         |
+    |                           |    Deduct      }|          |         |
+    |                           |  “received.”   }|315189·39 |         |
+    |                           |                 +----------+         |
+    |                           |Loss             |     1.08 |         |
+    |    Blanks for Sixpences.  |                 |          |         |
+    |                           |                 |          |         |
+    |                  Ounces.  |                 |          |         |
+    |As by Annealing}           |                 |          |         |
+    |  Room Beam.   }  98980·28 |  Sixpenny Coin  | 98279·81 | 98271·65|
+    |                           |                 |          |         |
+    |As by Press    }           |  Sixpenny      }|          |         |
+    |  Room Beam.   }  98980·28 |  Brockages.    }|   678·84 |   678·84|
+    |                -----------+                 |          |         |
+    |Showing no     }           |  Sixpenny Pyx  }|          |         |
+    |  difference.  }      0·00 |    Pieces.     }|    21·18 |    21·18|
+    |                           |                 +----------+         |
+    |                           |    Deduct      }|          |         |
+    |                           |  “received.”   }| 98979·83 |         |
+    |                           |                 +----------+         |
+    |                           |Loss             |     0·45 |         |
+    |  Blanks for Threepences.  |                 |          |         |
+    |                           |                 |          |         |
+    |                  Ounces.  |                 |          |         |
+    |As by Annealing}           |  Threepenny    }|          |         |
+    |  Room Beam.   }  19304·08 |    Coin.       }| 19145·45 | 19159·20|
+    |                           |                 |          |         |
+    |As by Press    }           |  Threepenny    }|          |         |
+    |  Room Beam.   }  19304·08 |  Brockages.    }|   154·85 |   154·85|
+    |                -----------+                 |          |         |
+    |Showing no     }           |  Threepenny    }|          |         |
+    |  difference.  }      0·00 |  Pyx Pieces.   }|     3·02 |     3·02|
+    |                           |                 +----------+         |
+    |                           |  Deduct        }|          |         |
+    |                           |  “received.”   }| 19303·32 |         |
+    |                           |                 +----------+---------+
+    |                           |Loss             |     0·76 |857103·65|
+    +---------------------------+-----------------+----------+---------+
+
+                                        Ounces.
+    Total received from Mint Office   1499104·00
+      ”   returned to     ”     ”     1498503·73
+                                      ----------
+    Loss                                  600·27
+                                      ==========
+
+    The proportional loss on this coinage was 0·199 ounces on each 500
+    ounces coined, instead of 1 in 500 as the Master had expected must
+    be the case.
+
+      The mean rate of
+    The Ends was             3·94 per cent. on the Rough Bars.
+     ”  Scissel was         37·85     ”     ”        ”
+     ”  Rejected Blanks was  0·89     ”     ”        ”
+     ”  Brockages was        0·38     ”     ”        ”
+     ”  Coined Money was    56.87     ”     ”        ”
+     ”  Coined Money was    59·22     ”     ”     Clean Bars
+
+                  WAGES PAID TO WORKMEN BY PIECE-WORK SCALE.
+    +-------------------+---------+-----------+-----------+------------+
+    |                   | Florins.| Shillings.| Sixpences.|Threepences.|
+    +-------------------+---------+-----------+-----------+------------+
+    | For Melting       |   13·215|    9·176  |    3·079  |     0·584  |
+    |  ”  Rolling       |   45·521|   42·045  |   28·111  |     8·165  |
+    |  ”  Cutting       |   44·165|   46·008  |   28·899  |     8·052  |
+    |  ”  Annealing     |   35·300|   45·965  |   28·869  |    11·260  |
+    |  ”  Coining       |   29·192|   39·231  |   24·570  |     9·572  |
+    +-------------------+---------+-----------+-----------+------------+
+    | Total wages paid  | £167·393| £182·425  | £113·528  |   £37·633  |
+    +-------------------+---------+-----------+-----------+------------+
+    | Rate paid for each|         |           |           |            |
+    |  100 lbs. troy of |   £0·475|   £0·697  |   £1·386  |    £2·358  |
+    |  Coined Money.    |         |           |           |            |
+    +-------------------+---------+-----------+-----------+------------+
+
+    +------------------------+--------------------+-------------------+
+    |                        | Rate per cent. of  | Rate per cent. of |
+    |                        | Coined Money from  | Coined Money from |
+    |                        |    Rough Bars.     |    Clean Bars.    |
+    +------------------------+--------------------+-------------------+
+    | Florins                |       55·26        |       57·76       |
+    | Shillings              |       59·38        |       62·22       |
+    | Sixpences              |       55·96        |       58·29       |
+    +------------------------+--------------------+-------------------+
+    |                                                                 |
+    | _To the_ MASTER OF THE MINT.                                    |
+    |                                          GEORGE F. ANSELL.      |
+    | _May 6th 1858._                                                 |
+    +-----------------------------------------------------------------+
+
+It would appear necessary that I should now give[124] a copy of one
+of the reports I made to the Master, showing for silver a similarly
+detailed history of its manipulation to that which was given for gold
+(see page 92); and as that was fully explained, it is felt unnecessary
+to say more of this report than to point out that the blanks are
+simply stamped in the press room, and that as this operation produces
+no alteration of weight, the losses recorded were due to abstractions
+of coined money, and were reported to the Master as such, while the
+loss exhibited in the annealing room was also due to the same cause.
+The loss which appears to have arisen in the weighing room arises from
+another cause. The blanks when operated upon lose little splinters of
+metal, which are preserved, and at the end of the coinage go to a fund
+of odd pieces, which are melted; and the ingot produced is assayed, its
+estimated amount of silver is determined, and this is called _supply_,
+and will be seen to be 47·67 ounces for the whole department, although
+it appears in the annealing room account, because it is usually cleaned
+in that room.
+
+[Footnote 124: See pages 89, 160-161.]
+
+As regards the accounts for the rolling and cutting rooms, it would
+be a source of interest to the curious could they but examine the
+books and compare them for periods previously to and after 1857, when
+it would be demonstrated that nearly the whole of the losses above
+explained took place in those rooms. I stopped these _evaporations_,
+and removed the word _loss_ which was habitually printed at the foot
+of each day’s account, replacing it by the word GAIN, because that
+significant word expressed what should have happened, and that which
+under me did really take place in these rooms.
+
+It is remarkable, but even in so simple a matter as the bronze coinage
+there also arises a large loss—that is, a great part of the profit is
+lost. I therefore propose to say a few words upon this subject, and
+see if reason will confirm the facts of experience. The average value
+of copper is about £100 a ton, and this may be assumed as the average
+price of bronze in ingots. It is perfectly well understood that bronze
+and copper coins are both accepted as token money; but some amongst us
+may remember when copper pennies were so coined as that each penny was
+intrinsically worth that sum, the intention being that any customer
+could check the honesty of the shopkeeper when he bought an ounce of
+tea or tobacco, by placing his “cart-wheel-penny” against the commodity
+still in the scale. Experience, however, demonstrated that this was
+not a right footing for a subservient coinage. It was found that when
+copper in the market fluctuated to a price beyond 1_d._ per ounce, this
+coinage was collected and melted. Therefore it was determined to make
+the intrinsic far below the extrinsic value, and then to limit the
+legal tender to 2_s._ in nominal value in copper money.
+
+In 1860 the copper token money was replaced by bronze token money, and
+the weight of this was still farther reduced, so that the intrinsic
+value of a penny became as nearly as possible one farthing—that is to
+say, a farthing’s worth of copper or bronze had given to it in the act
+of coining an extrinsic value equal to a penny, by which a profit of
+300 per cent. would appear to be realised. But since some of the bronze
+is coined into pence, halfpence, and farthings, and these vary in
+their proportional intrinsic value, it is felt to be fair to give the
+Government every possible latitude, because Lord Kinnaird evidently
+accepted those facts when he made his speech in the House of Lords.
+
+Bronze costs £100 a ton, and a ton of bronze is, on an average,
+converted into £358 when coined—that is to say, £100 intrinsic value
+receives by the act of coining an extrinsic value equal to £358, and
+so yields a profit of £258. Yet the Chancellor of the Exchequer last
+year asked for, and obtained, £1,000 _to defray the loss on bronze_,
+the fact being that on the value coined—£10,010—there should have been
+a clear profit of £25,825. And it so happens that, by the return No.
+157, 1869, a profit is admitted to the modest extent of £6,318 0_s._
+2_d._ Why was the £1,000 asked for, and what became of the £6,318 0_s._
+2_d._? and further, why was that modest sum allowed to take the place
+of the proper profit, or £25,825?
+
+The return above quoted, No. 157, 1869, shows that in the nine years,
+1860-1868, the purchase value of copper bought for coinage was
+£489,071, and the same return shows that this intrinsic value was
+converted into money of the nominal value of £991,833; therefore,
+by deducting the cost from that sum, there appears a clear profit
+of £502,762 on bronze since 1860, which is at the moderate rate of
+£102 per cent. on the outlay. It will be well to investigate farther,
+and perhaps to take the contract given to Messrs. James Watt and Co.
+for 1,720 tons in 1860. The sum paid to that firm, added to the cost
+of copper supplied to them for the manufacture of bronze to produce
+1,720 tons of coin, was £229,200; and the 1,720 tons of bronze money
+forwarded to the Mint by the terms of that contract was, in nominal
+value, when delivered, £696,293, so that the profit on that one
+transaction was £467,093, or at the rate of £203 per cent. on the
+outlay. The last coin (a penny) to complete this contract was struck by
+Messrs. Watt at 9 A.M. on Thursday, the 11th of June, 1863; so that the
+coinage, which has been conducted since that period, has been struck
+under the superintendence of the present Mint officials. The return
+No. 157, 1869, shows that, at the period when the Mint was receiving
+bronze coin from the contractors, and was at the same time coining
+bronze—viz., from 1860-1863, the profit was diluted from 258 to 108 per
+cent.; but when the Mint took the whole manufacture from 1864 to 1868,
+under Mr. John Graham alone, that profit was further lessened to 78·70
+per cent., or rather less than £78 15_s._ was made where £258 should
+have been made.
+
+The Mint officials may, and probably will, plead that this return, as
+well as that relating to silver, is “false;” still they must stand
+or fall by their own figures, or issue intelligible and trustworthy
+returns to the orders of the House of Commons; and these exhibit the
+fact that Messrs. Watt’s contract gave a profit of 203 per cent.;
+the Mint and Messrs. Watt’s contract jointly of 108 per cent.; the
+Mint solely, of only 78¾ per cent. It will probably be asserted that
+the purchase of the old copper money caused the apparent loss; but
+this argument will be disposed of if we take the case of 1863, up
+to which period 1,651 tons 8 cwts. 2 qrs. 27¾ lbs.; of worn copper
+coin had been purchased at an absolute cost of £234·80 per ton. To
+assume then that this was the cause for diminished profit, let us
+see if it can be proved to demonstration. I have shown that a ton of
+bronze money is worth £358, and a ton of copper, when bought as old
+coin, £234·80; therefore, the copper so bought should yield profit of
+about £152·50 per centum. But it should do more than this; for I, of
+my own knowledge,—because I ordered it,—state that bronze was bought
+to a considerable amount at the then current rate of new copper. The
+following, however, is the worst that could happen:—If the whole of
+the old copper cost £234·80 per ton, when converted into bronze money,
+it would produce £358, or equal to £152·5 per cent. profit. Upon what
+ground then can the profit—when new copper at the lower price is
+bought—be reduced so low as to 108 per cent., and then fall to £78·70
+per cent. on the copper purchased? Were any prosecutions made, or
+were men simply told their “services were no longer required?” If the
+accounts were investigated by a professional accountant, what amount of
+loss in weight—in addition to the loss by dirt which amounted to 0·41
+per cent. on each ton melted—would be shown when they were balanced?
+Another curious inquiry might be made:—At what rate for labour was
+bronze money coined in the Royal Mint after the cessation of the
+contract? It might be found to be exorbitant.
+
+Since, however, Lord Kinnaird directed attention to this subject,
+Mr. Fremantle has adjusted the return No. 157, as regards bronze, in
+a manner similar to, yet differing from, that relating to silver. I
+propose to insert copies of these returns, following the arrangement
+adopted for those relating to silver; and it will be seen that whereas
+Mr. Graham showed a profit of £502,761 11_s._ 11_d._ between the years
+1860-68, _without an instance of loss_, Mr. Fremantle not only alters
+all the figures relating to the copper purchased, but reduces Mr.
+Graham’s profit to £403,376 18_s._ 6_d._ and shows _a loss_ in 1864 to
+the extent of £31,896 13_s._ 4_d._; which sum, deducted from £435,273
+11_s._ 10_d._, yields the profit Mr. Fremantle is willing to admit.
+I am fully aware that “figures may be made to tell anything;” but
+until the year 1870 I was not aware that Parliament would permit its
+returns to be altered, amended, or adjusted without leave or a word of
+explanation. Surely such an occurrence, added to evidence previously
+adduced, will cause some independent member to “tackle” even Mr. Lowe
+in the House of Commons. Why Mr. Fremantle, in the case of silver,
+converts loss into profit, and in that of bronze reduces, apparently
+without reason, the amount of profit, should be explained. I have done
+my share in calling attention to the facts. It should be pointed out
+that the figures relating to 1869 in the following return are inserted,
+but not demonstrated, because I wish to mark emphatically the fact
+that it is Mr. Graham’s figures alone which are made to perform these
+operations, while those of Mr. Fremantle yield a profit of £12,476
+4_s._ 6_d._, or at the rate of £137·35 per centum on the copper
+purchased.
+
+
+     NO. 157.—RETURN TO AN ORDER OF THE HONOURABLE THE HOUSE
+     OF COMMONS, DATED 21ST APRIL, 1869, FOR ACCOUNT “OF ALL GOLD,
+     SILVER, AND COPPER MONEYS OF THE REALM COINED AT THE MINT, FOR
+     EACH YEAR FROM THE 1ST DAY OF JANUARY, 1859, TO THE 31ST DAY OF
+     DECEMBER, 1868, &C.,” IN CONTINUATION OF NO. 340, 1857-68. (MR.
+     AYRTON, PAGE 4.)
+
+    +--------+---------------+--------------+--------------+-----------+
+    | Date.  |Total Value of |Purchase Value|  Profit on   | Loss on   |
+    |        |Copper Coined. | of Copper.   |  Coinage.    | Coinage.  |
+    +--------+---------------+--------------+--------------+-----------+
+    | 1860:  |    £   _s. d._|    £  _s. d._|    £  _s. d._| £  _s. d._|
+    |Copper  |    134  8  0  |              |              |           |
+    |Bronze  | 37,856  0  0  |  9,185  2 11 | 28,805  5  1 |           |
+    +--------+---------------+--------------+--------------+-----------+
+    | Bronze:|               |              |              |           |
+    | 1861   |273,578 13  4  | 96,735  6  8 |176,843  6  8 |           |
+    | 1862   |352,800  0  0  |203,389  0  0 |149,411  0  0 |           |
+    | 1863   |151,648  0  0  | 82,482  0  0 | 69,166  0  0 |           |
+    | 1864   | 18,069  6  8  |  9,660  0  0 |  8,409  6  8 |           |
+    | 1865   | 57,493  6  8  | 31,740  0  0 | 25,753  6  8 |           |
+    | 1866   | 50,624  0  0  | 26,910  0  0 | 23,714  0  0 |           |
+    | 1867   | 33,301  6  8  | 18,960  0  0 | 14,341  6  8 |           |
+    | 1868   | 16,328  0  2  | 10,010  0  0 |  6,318  0  2 |           |
+    |        +---------------+--------------+--------------+-----------+
+    |        |991,833  1  6  |489,071  9  7 |502,761 11 11 |           |
+    +--------+---------------+--------------+--------------+-----------+
+                               THOS. GRAHAM, MASTER OF THE MINT.
+     ROYAL MINT, _19th April, 1869_.
+
+      NO. 262.—RETURN TO AN ORDER OF THE HONOURABLE THE HOUSE OF
+      COMMONS, DATED 30TH MAY, 1870, IN CONTINUATION OF PARLIAMENTARY
+      PAPER, NO. 157, OF SESSION 1868-9. (MR. STANSFELD, PAGE 4.)
+
+     LEGEND:
+        (A) = Total Value of Copper Coined.
+        (B) = Total Amount Paid for Copper Bullion and Old Copper Coin.
+    +-------+----------------+---------------+---------------+------------+
+    |       |                |               |               |            |
+    | Date. |       (A)      |       (B)     | Profit on     |  Loss on   |
+    |       |                |               | Coinage.      |  Coinage.  |
+    +-------+----------------+---------------+---------------+------------+
+    | 1860: |    £    _s. d._|   £    _s. d._|   £    _s. d._| £   _s. d._|
+    |Copper |      134  8  0 | 16,317 10  0  | 21,672 18  0  |            |
+    |Bronze |   37,856  0  0 |               |               |            |
+    |       |                |               |               |            |
+    |Bronze:|                |               |               |            |
+    |1861   |  273,578 13  4 |117,963 10  0  |155,615  3  4  |            |
+    |1862   |  352,800  0  0 |230,784  3  0  |122,015 17  0  |            |
+    |1863   |  151,648  0  0 |136,315  0  0  | 15,333  0  0  |            |
+    |1864   |   18,069  6  8 | 49,966  0  0  |               |31,896 13  4|
+    |1865   |   57,493  6  8 | 16,518  0  0  | 40,975  6  8  |            |
+    |1866   |   50,624  0  0 |  9,273  0  0  | 41,351  0  0  |            |
+    |1867   |   33,301  6  8 |  6,260  0  0  | 27,041  6  8  |            |
+    |1868   |   16,328  0  2 |  5,059  0  0  | 11,269  0  2  |            |
+    |1869   |   20,832  0  0 |  8,355 15  6  |               |            |
+    |       +----------------+---------------+---------------+------------+
+    |       |1,012,665  1  6 |596,811 18  6  |435,273 11 10  |31,896 13  4|
+    +-------+----------------+---------------+---------------+------------+
+                       C. W. FREMANTLE, DEPUTY MASTER OF THE MINT.
+     ROYAL MINT, _31st May, 1870_.
+
+The foregoing is demonstrative of the processes of coining as conducted
+in the Royal Mint, and of the system which prevails in that Department;
+I feel it right, however, to add an epitome of the trial of the pyx, a
+custom established by the Mint Indenture of 18th Edward III.
+
+I will describe the trial which took place on the 17th of July, 1861,
+when the Lord Chancellor Westbury presided in the absence of the Queen,
+whom he represented as though she were personally present. It should
+have commenced at nine o’clock in the morning, but some delay was
+caused by the inability to open the pyx chamber in Westminster Abbey,
+owing to the rusting of the locks. The Lord Chancellor was supported
+by the following members of the Most Honourable the Privy Council,
+Lord Granville, the Duke of Argyll, Sir Edward Ryan, and the Right
+Hon. Robert Lowe; Lord Monteagle attending officially with the trial
+plates in sealed packages. The jury of twelve men selected by the
+Goldsmiths’ Company was then sworn in due form. Lord Monteagle next
+declared that the trial plates were standard according to law, and
+that they were in the same state, and that the seals were in the same
+state, as when deposited in the pyx chamber. The Lord Chancellor then
+charged the jury, telling them of the prerogative of the Crown, and
+that the Sovereign has a right to issue money bearing her image and
+superscription, and that the people take such money in commerce because
+it is guaranteed of certain purity, that this guarantee also insures
+the receiving of the money by foreign nations; and that these facts
+made the attesting of its purity a vital point, that all people might
+be assured by their verdict that the money issued is in accordance
+with the law, both as to weight and fineness. The Lord Chancellor then
+explained the laws relating to the coinage, and that the Master of the
+Mint, who was present, would, if their verdict were favourable, be
+discharged from further liabilities as to the coin he had made up to
+the 31st of December, 1860. After this the Lord Chancellor dwelt upon
+the antiquity of the trial of the pyx very briefly, and then explained
+that the word _pyx_ is of Greek origin, and means “box”—the box in
+which is placed the money to be tested by the jury. He then explained
+the law as to the custody of the pyx and of its keys, and passed on to
+the latitude allowed for errors as to the standarding of the alloy,
+and for the remedy by weight for each pound of manufactured coin;[125]
+stating that there had been one adverse verdict found by a jury at
+the trial of the pyx, but that the present verdict would doubtless be
+favourable to the Master of the Mint, who would then be discharged from
+further liabilities by Royal letters-patent. He then adjourned the jury
+to the Goldsmiths’ Hall to make the necessary tests and trials of the
+coin, desiring that they should afterwards deliver their verdict to
+him, either at the House of Lords at six o’clock, or at his residence
+at eight o’clock. Lord Monteagle then handed the trial plates to the
+foreman of the jury. The trial plates are wide ribbons of gold and of
+silver, about as thick as a florin, and indented on the edges. The face
+of each plate is stamped with the obverse impression of a sovereign
+die; and the date of its manufacture, with the proportion of its alloy,
+is engraved on each plate.
+
+[Footnote 125: Specified by the Mint Indenture, which was legalised by
+the Act of Parliament 56 Geo. III. cap. 68, sec. ii.]
+
+The jury, having arrived at the Goldsmiths’ Hall, proceeded to count
+and weigh the gold and silver moneys of Sir John Herschel, and of
+Thomas Graham, Esq.; they then selected a fixed number from the coins
+of each Mastership for trial by assay, following a process similar to
+that described at pages 10-14. The jury also tested the coined money by
+weight, but did not test any individual coin (see new law, pages 70-73)
+as to its weight, because the old law only required the coined money to
+be within the limits of weight allowed, supposing a fixed number of any
+coins to be weighed against a standard pound. The limit, or remedy, was
+12 grains on each pound weight troy of gold coin, or about O·2568218
+grain on each sovereign, and 24·00 grains on each pound weight troy of
+silver coin. After the assay the jury agreed upon a verdict, which was
+to the effect that the moneys of both Masterships were found by them to
+be within the remedy, both as regards weight and fineness. This verdict
+was delivered at eight o’clock P.M., at the Lord Chancellor’s private
+residence. The Master of the Mint was present, with his Deputy Master
+and other officers, during the trial. The total amount in the pyx at
+this trial was £36,417 10_s._ in gold moneys, and £807 4_s._ 3_d._
+in silver moneys, and from these the jury selected a total of 60·616
+ounces of gold and 71·018 ounces of silver for the assays.
+
+In the same manner the trial of the pyx was held at Westminster on the
+19th January, 1866, the only difference consisting in the fact that
+at that time £34,927,008 8_s._ 0¼_d._ in coined gold, and £1,556,100
+11_s._ 10_d._ in coined silver were submitted to this test.
+
+In an earlier page[126] I have expressed my views as to the
+worthlessness of the farce called the _Trial of the Pyx_. While I
+studiously avoid altering that expression of opinion, I am sorry
+that the _last_ Trial of the Pyx under the ancient law took place
+on Tuesday, the 15th day of February, 1870. I could have felt less
+regret at the removal of this ancient custom from one law to another,
+had there been provision for its better execution; but simply to do
+away with the sacred charm of antiquity, and to enact a troublesome
+deception, is worse than a blunder; it is, in my antiquarian view, a
+crime.
+
+[Footnote 126: See pages 53-56.]
+
+The _Trial of the Pyx_—now, without meaning, as well as a farce—is to
+be held, under the Act 33 Victoria, chap. 10, at least once in every
+year. Why not daily throughout the year—that its absurdity may be
+demonstrated more markedly? Had it been as it should have been, a real
+trial of the Pyx, instead of an examination with a foregone conclusion
+of certain coins; “at least once in every year,” would have been not
+only justifiable but right.
+
+
+
+
+CONCLUDING REMARKS.
+
+
+Throughout the foregoing pages I have endeavoured to point out the
+causes which lead to mismanagement in the Royal Mint, and I should
+be glad if I could see a reason to hope that this state of things
+was likely to terminate. However, there seems to exist an obstinate
+determination to maintain the present arrangements. If proof of this
+be required, it exists in the re-issue of Pistrucci’s device on the
+sovereign of 1871, which meets with deserved condemnation from all
+classes of opinion. It is a wrong to Pistrucci’s memory to append his
+initials to a coin so mutilated. While, however, Mr. Fremantle thinks
+it economy to continue—_vide_ “European Mints”—the present system of
+the die department of the Royal Mint, the nation must bear the disgrace
+inherent to such determination. There is, however, reason to believe
+that this subject will be forced upon the Master of the Mint, for it
+is now attracting considerable attention. That St. George, seated on
+his horse, should be placed in a concavity, is perhaps intended to
+symbolise the necessity for washing from him the dirt in which he has
+of late been bathed; but that thus sinking the work on a coin is wise
+may be questioned, for our coins should represent medals, not saucers
+of tarnished copper. Instead, however, of altering the effigy of her
+Majesty, they at the Mint have made an unwise alteration of the eye
+alone, and which gives a very unpleasant expression. The necessity for
+the issue of this new coin arose from the fact of the alteration from
+base to standard coin (see pages 54-56), and its design is really a
+Hall mark to point out to the Mint authorities the real value of the
+coin. When purchased for melting, five hundred of these coins will be
+worth £500, but an equal number of coins of the previous issue is worth
+only £499; so that by the alteration the Bank of England now loses
+£2,000 which it before enjoyed from this source, quite independently of
+the profit demonstrated at pages 126-127.
+
+I have insisted on the necessity for a different system as applied to
+the chief engravership of the Royal Mint, and, consequently, for a new
+effigy of her Majesty on the coins of the realm. I had hoped that when
+the George and Dragon was issued, a new device would also appear, and
+that this did not take place is a subject of universal regret. There
+appears to be a want of knowledge as to the cause for retaining the
+present obverse; I therefore mention it. The objection to change arose
+with his late Royal Highness the Prince Consort, who resisted any
+alteration of the design in the die of the face of her whom he loved
+so well. This fact probably prevents the issue of a coin from the new
+pattern die which is prepared in the Mint.
+
+The want of knowledge exhibited in the Royal Mint is further
+demonstrated by the recommendations of Mr. Napier, who has not been
+at the pains to understand the cutting-out presses which he condemns.
+I concur, however, in that condemnation; for these machines should
+be small, powerful, and diaphanous, if I may so interpret that word;
+not heavy and light-obstructing as at present. Such a machine can
+readily replace the present machinery, which, with one coining press
+and its complete accompaniments, will find a fitting home in the South
+Kensington Museum. Had we in these days the inventive minds of past
+generations, we might hope to see the principle of the screw press
+of Mr. Boulton so modified and applied to the other presses in the
+Mint, that they would require but little more space than that occupied
+by themselves alone; indeed, such an instrument seems but a natural
+result of the existence of Mr. Boulton’s press, and coins, intended to
+represent medals, should be formed by a blow, not by gradual pressure.
+That the Chancellor of the Exchequer for the time being should be
+Master of the Mint is perhaps the strongest proof of the ignorance
+on the subject of the Parliament which passed the Act that can be
+produced. It keeps the Deputy-Master of the Mint, by his own admission,
+continually journeying between the Mint and the Treasury Chambers to
+instruct the Master, instead of, as he should be, attending to the
+arrangements of the Mint. Parliament, I hope, will yet see that the
+master of a working Department should be a practical, not merely a
+financial or political man.
+
+When the new Coinage Act was passing through Parliament, a clause was
+introduced which has enabled any person to send gold to the Mint for
+coinage free from expense, except loss of interest. Colonel Tomline,
+M.P., has been the first to avail himself of this right, and I happened
+to be with that gentleman on the 4th February, 1871, when he received
+from the Mint £100 in coined gold, of which he gave me a specimen.
+This is the first time that a private person has attempted such an
+invasion of the prescriptive rights of the Bank of England, and by it
+he has made a clear gain of 1¾_d._ (although in this instance he lost
+profit by assay and trade practice), for he sent an ingot which weighed
+25·681 ounces—seller’s weight at £3 17_s._ 9_d._ an ounce—and received
+back from the Mint 25·684 ounces of sovereigns, or in excess weight
+0·003 ounce. The time occupied was twenty days. The principle thus
+established is a great one, and it is to be hoped that Colonel Tomline
+will carry his point against the Master of the Mint as regards a free
+coinage of silver; for while the Government claims the exclusive right
+to coin silver, its workshop—the Mint—refuses to issue coined silver to
+the public. That department sells threepenny pieces because the Bank of
+England will not take the trouble; but all other silver coin goes to
+that institution, to be issued by it to bankers alone in bulk.
+
+Colonel Tomline will perhaps consider the wisdom of re-establishing
+an Exchange where those who have an excess of bronze or silver can
+exchange it for gold, and those who wish it can obtain the subservient
+coinages.
+
+There are strong reasons why the Royal Mint, instead of the Bank of
+England, should purchase gold bullion and pay for it in Mint notes,
+but, leaving the full consideration of this part of the subject for
+a future opportunity, it seems that there can be little doubt of the
+fairness of my proposition to charge one pound for the coining of
+each thousand sovereigns, this sum being quite sufficient even under
+the present system to protect the Mint from loss, while it is certain
+that it would, under efficient management, yield a profit. If, then,
+beyond this degree of protection against pecuniary loss by the gold
+coinage the average amount of silver and bronze were coined, the
+Royal Mint should be—and under proper control would be—not only a
+self-supporting Department, but one of actual profit, just as the Post
+Office has become, instead of, as at present, a vast abyss into which
+a great amount of money is thrown, never again to appear. It must not
+be conceived that my wish or intention is to do violence to those who
+hold office; my desire has been to point out the irregularities which
+prevail, and at the same time, from experience gained under exceptional
+opportunities, and by perseverance under adverse circumstances,
+to develope the actual facts, so that when these are known the
+irregularities, to say the least of it, may be remedied.
+
+I cannot assert that my descriptions explain the operations at the
+Mint as now conducted; but this I do feel, that if such suggestions as
+I have made for improvements in the operative department were alone
+followed in their entirety, the result would be a clear saving of at
+least £4,000 a year; while, if the other propositions which I have
+endeavoured to demonstrate are carried into effect, it seems perfectly
+clear that the Chancellor of the Exchequer need not apply year after
+year to include in the estimates the large amount required to meet the
+losses of the Mint.
+
+It is due to myself to state that the manuscript for my late edition
+was in the hands of the Publisher at the time of Mr. Graham’s death,
+and on the occurrence of that event I, at great expense, altered many
+passages which I had written, with an especial view to Mr. Graham’s
+replying to them.
+
+I wish to state that my object is to point out the system and its
+results; and in case the feelings of any gentlemen should be hurt,
+I must apologise to them, pleading the necessity, when a discussion
+on the Mint is pending, that all who are acquainted with the subject
+should exhibit facts relating to it, that when the whole matter is
+fairly considered a true judgment should be arrived at; for, as
+Archbishop Whateley has truly said, “The deadliest of all falsehoods is
+the lie of suppression.”
+
+
+
+
+APPENDIX.
+
+
+    TO THE RIGHT HONOURABLE LORD KINNAIRD, K.T.
+
+               27, BERNARD STREET, RUSSELL SQUARE, W. C.
+                                      _February 8th, 1871._
+
+    MY LORD,
+
+I shall feel obliged if I may thank you for your Lordship’s letter
+of the 7th inst., in which you request from me—in consequence of the
+remarks made on my character by Mr. Lowe in the House of Commons,
+and by the Duke of Argyll and Lord Lansdowne in the House of Lords—a
+history of my connection with the Mint.
+
+In compliance with your Lordship’s request, I proceed to put in
+writing an account of my association with and severance from the
+Royal Mint. That I may occupy as little of your Lordship’s valuable
+time as possible, I have selected certain passages from the Treasury
+correspondence which relate to myself. I am not aware that I have at
+all unduly interpreted those letters, or that, by omitting parts, I
+have made them appear more favourable to myself than they were intended
+by their authors to be. If, however, the Government should so view
+these extracts, may I beg of your Lordship to move for the complete
+correspondence, the publication of which would, I believe, more fully
+demonstrate my “case.” I possess copies of that correspondence, but
+extracts from it will convey all that concerns myself; to this there is
+one exception, and I beg to submit a considerable portion of one letter
+from the Master of the Mint to the Treasury, because its contents fully
+bear out my statement that great irregularities had existed and were
+checked. Indeed, I now invite your Lordship’s attention to a passage
+in that letter because the Mint is at present conducted at extravagant
+expense, while its losses of bullion reach far towards the former
+average. Mr. Graham says, “The diminished waste of late years (1857-60)
+is further attended with increased economy in working, of which,
+indeed, a low waste return is one of the surest indications.”
+
+The correspondence which your Lordship has so generously placed at my
+disposal, I also include that my account may be complete, although
+necessarily brief. I should also state that, by the rules of the Civil
+Service, an extra clerk cannot approach the head of his Department
+without permission from his superior officer. Yet your Lordship will
+observe that the Master of the Mint not only received my reports, but
+addressed orders to, and treated me as, the chief on whom he relied,
+as is proved by his writings now copied as well as by those in my
+possession.
+
+In the early part of the year 1856 the Master of the Mint found himself
+so beset with difficulties arising from irregularities committed by
+those who should have supported him, that he formed a determination to
+engage a person on whom he could rely in the Coining Department, and
+who at the same time had sufficient personal influence and knowledge of
+the work to check those irregularities which he knew were taking place,
+but which were beyond his personal supervision. These irregularities
+were known to the Government of that period, and had caused so vast
+an expense that that Government, which was presided over by Lord
+Palmerston, had intimated to the Master, that unless the Mint could
+be conducted more satisfactorily and economically, it would be broken
+up as an imperial establishment, and thus necessitate the placing
+of the coinage in the hands of contractors. With this view papers
+were printed and issued to various firms; but Mr. Graham, being very
+sincere and energetic in his desire to so conduct the Mint as that
+this necessity should not arise, sought the advice of engineers and
+others, with a view to finding such a man as combined within himself
+the qualities which he saw to be necessary. Finally, by the advice
+of Dr. A. W. Hofmann, he called upon me at my residence in October,
+1856, and related to me in detail the facts above alluded to, and
+explained precisely the position of affairs at the Mint, giving me
+the names of the troublesome persons, and showing his own position to
+be so intolerable, that without some one on whom he could rely, it
+would be impossible for him to continue his Mastership. Mr. Graham
+then proceeded to tell me what had passed between Dr. Hofmann and
+himself as to my fitness for the work required, and explained clearly
+the impossibility of placing me in a secure position or in high
+office at first, but that if I would accept a supernumerary clerkship
+temporarily, he would, when I had effected the object of his desires,
+advise my promotion to the office then held by Mr. W. T. Brande, when
+that office should become vacant. With this understanding I agreed
+to accept the position proposed if duly appointed; but that I might
+be able to carry out such reforms as were necessary, I insisted on
+sufficient power being given to me by himself or by the Government. In
+pursuance of this agreement, Mr. Graham recommended my appointment in
+a letter to the Treasury, dated 29th October, 1856, in the following
+terms:—
+
+“I desired to introduce a young man, recommended by scientific and
+technical information available in coining, by energy of character,
+and by tried ability in the supervision of workmen—a faculty by no
+means common. After applying to Mr. William Fairbairn and to Mr. George
+Rennie, who both recommended candidates, and making inquiry in various
+other quarters, I have been led to propose the name of Mr. George
+Frederick Ansell as temporary clerk. Mr. Ansell was educated under Dr.
+Hofmann, and acted for some years as his laboratory assistant. He has
+since been Scientific Director in the Panopticon, Leicester Square,
+which was lately broken up. He appears to be a person of superior
+education and ability, and great activity and vigour of character, and,
+as I have been assured, has shown much discretion in the management of
+both pupils and workmen.”
+
+Mr. Graham announced to me my appointment in the following note:—
+
+                                 “_Royal Mint, November 6th, 1856._
+    “MY DEAR SIR,—
+    “I am happy to inform you that your nomination to office in the
+     Mint has been approved by the Treasury.
+
+    “Would you favour me with a call to-day before three o’clock, if
+     quite convenient; or, if not, to-morrow morning after eleven.
+
+                                           “Ever truly yours,
+    “GEORGE FREDERICK ANSELL, ESQ.”                   “THOMAS GRAHAM.
+
+
+I was thus appointed to a supernumerary clerkship, and took office in
+the Rolling Room of the Royal Mint; but before doing so I particularly
+inquired of Mr. Graham, in the presence of Mr. W. H. Barton, the then
+Deputy-Master, what authority I should have, and how far I should be
+supported if I attempted to enforce obedience, and whether I was at
+liberty to call for statements and examine original documents and
+books. He verbally authorised me to examine such books as I wished
+to examine, and desired Mr. Barton to give me such statements or
+information as I might ask for; and as to my authority, he said, “If
+you order the men to dance a hornpipe on the table, they shall do it,
+and all orders shall pass through your hands.” With such power, and a
+salary of £120 a year, or rather £10 a month, I took office on the 12th
+November, 1856.
+
+An examination of the books in the Royal Mint will prove that I quickly
+corrected the irregularities in the Rolling Room, and increased the
+amount of finished work by 100 per cent. Loss of bullion became unknown
+in that room.
+
+In the Adjusting and Cutting Room, however, the losses and rejected
+work continued to be astounding, the loss averaging seven ounces of
+gold per diem, and for days together running so high as twelve ounces.
+The Master had many times urged me to relinquish the direction of the
+Rolling Room, and to take charge of the Cutting Room. I, however,
+maintained that it was wiser “to begin at the beginning and clear up as
+I went.” To this he reluctantly assented, but on the 25th of February,
+1857, the officer who had charge of that department, as well as of the
+Weighing Room, exhibited so decided an opposition to the written order
+of the Master, that it became necessary for me to yield the point.
+On that day I changed duties with the officer alluded to. The Master
+wished me also to superintend and assist the officer so removed to the
+Rolling Room, and I made a note to that effect in the official book of
+that department, which doubtless still remains.
+
+It had been the custom with officers in the Mint to consider it
+derogatory to understand practically the machines in use, and the
+officer whom I replaced did not know for years afterwards whether the
+cylinders used in the Drag Bench were fixed or movable, and described
+them as “going round like the rollers!!!” I had, however, a different
+opinion; and, notwithstanding the scorn and contempt of the “gentlemen”
+of the Mint, made myself minutely acquainted with all details, so
+that I could perform the manual labour of each workman; this had been
+observed, and when I took charge of the Adjusting and Cutting Rooms
+the foreman of those rooms barricaded himself in his recess with a
+determination to prevent me seeing his operations. I stepped from one
+copper trough to another, and thus placed myself at his side, greatly
+to his astonishment. His remarks were significant, “You mean to learn
+the duties?” “I do.” To which he replied, “Man proposes, God disposes.”
+I directed the removal of the barricades, and invited the foreman into
+my private room, where a little conversation enabled him to understand
+his new officer.
+
+I then delegated to Mr. Richard Pilcher the charge of the Weighing
+Room, and gave him the key of the stronghold in that room: while I
+remained in the Mint he retained that position, and still holds it. He
+served me faithfully and fearlessly.
+
+Subsequently I weighed to the foreman of the Cutting and Adjusting
+Room, in the presence of himself and the workmen, a given weight of
+gold, which I watched in its progress, and weighed at each stop. As was
+to be expected, there was a final increase of weight: many explanations
+were asked, and given; but I firmly demanded all the gold so delivered,
+each day, and thus replaced _habitual loss_ by habitual gain.
+
+Without passing into too minute detail, it is sufficient to state, that
+while some men were removed, others were introduced. That these changes
+were made by me I can conclusively prove by the Master’s written orders
+and letters to that effect. But the following letter to the Treasury
+seems to tell an indisputable tale.
+
+    EXTRACTS FROM LETTER OF MASTER OF THE MINT TO THE
+                LORDS OF THE TREASURY.
+                                     _Royal Mint, August 6, 1857._
+
+    “The late foreman, who was dismissed.... The dismissal of
+    J—— B——, late foreman in the Adjusting and Cutting
+    Rooms, arose out of an investigation respecting the nature
+    and extent of the waste of bullion in the operations of
+    coining, which is a subject demanding the most watchful
+    attention in the direction of a Mint. This loss is
+    understood to have been represented by the moneyers as
+    averaging 7 parts in 10,000 parts of gold coined, or £700
+    in one million sterling coined; and it has continued
+    undiminished under the new arrangements. Such an amount of
+    loss of metal appeared to me excessive, and certainly is so
+    when compared with the corresponding loss in the Mint of
+    Paris, which I am informed on good authority lies between
+    3 and 5 parts only in 10,000 parts of metal, and this with
+    much hurry of execution, and with inferior machinery, and
+    other circumstances against the Paris Mint.
+
+    “The appointment of the new officers, Mr. —— and Mr.
+    Ansell, in the Coining Department gave me means of laying
+    out the inquiry with effect. It is a subject of considerable
+    difficulty from the circumstances that the losses to be
+    detected, as they occur, are minute in themselves, although
+    their cumulative effect is great; and such losses are
+    often masked and concealed by legitimate change of weight
+    in the bullion, due to oxidation of the alloy, adhering
+    oil, &c. Without entering into details I may state that I
+    have reasons to believe the inquiry will result in a large
+    reduction of our waste, and great profit to the Mint, which
+    I trust will appear in the returns of the next gold coinage.
+    A portion of the loss is traced to culpable proceedings on
+    the part of the dismissed foreman, who, as tryer of fillets,
+    appears to have occasioned much mischief by producing bad
+    work (blanks out of remedy) seemingly with a purpose.
+
+       *       *       *       *       *
+
+    “By the vigorous action of two of these officers, Mr. ——
+    and Mr. Ansell, great economy has been enforced throughout
+    the Coining Department. Mr. Ansell, since his appointment in
+    November last, has been acting on the salary of a temporary
+    clerk, £10 a month, with the addition of £2 10_s._ per
+    month when engaged from 8 A.M. till 6 P.M.
+    I now beg strongly to recommend that Mr. Ansell’s
+    monthly salary shall be increased to £12 10_s._, in
+    consideration of his valuable services, with the addition of
+    £2 10_s._ per month when engaged from 8 A.M.
+    to 6 P.M. as heretofore.
+
+       *       *       *       *       *
+
+    (The master then goes on to request my Lords to do this
+     for Mr. Ansell.)
+                                           “THO. GRAHAM.
+    “_August 6, 1857_ (No. 1114).”
+
+    In this letter the Master justly attributes the stoppage
+    of the losses to the dismissal of J—— B——, at my
+    recommendation, and in consequence of my investigation, as
+    is proved by my Report to the Master, and by his letter to
+    the Treasury, copies of which I can furnish; but that this
+    was the case is demonstrated by the following order:—
+
+                          “_Royal Mint, 10th July, 1857._
+
+    “Ordered that J—— B—— be discharged from the service of
+    the Mint, in consequence of frequent neglect and inaccuracy
+    as Tryer in the Adjusting and Cutting Rooms of the Coining
+    Department, in accordance with the Report of Mr. Ansell, of
+    July 8th. Confirmed by Mr. Buckle.
+
+                            (Signed)      “THO. GRAHAM.”
+
+(EXTRACT.) LETTER FROM THE TREASURY TO THE MASTER OF THE MINT.
+
+                                    “_25th August, 1857._
+
+    “My Lords sanction proposed arrangements of the 6th, but
+    desire to receive a Report of the circumstances connected
+    with the dismissal of J—— B——, in consequence of the
+    investigation respecting waste of bullion.
+
+                        (Signed)       “W. H. STEPHENSON.
+    “_Mint (No. 1163), 27th August, 1857._”
+
+I, in consequence of this letter from the Treasury, went to Somerset
+House and to Doctors’ Commons, and obtained many particulars relating
+to J—— B——; and the Master wrote a Report to the Treasury, of which I
+have, and can produce, a copy: it is dated 15th June, 1858.
+
+    (EXTRACT.) LETTER FROM THE LORDS OF THE TREASURY TO THE
+                   MASTER OF THE MINT.
+
+    “_Treasury Chambers, 3rd September, 1858._
+
+    “SIR,
+
+    “In reply to your letter, dated 17th ultimo, recommending
+    the grant of increased salaries to Messrs. —— and Ansell,
+    I am commanded by the Lords Commissioners of Her Majesty’s
+    Treasury to state, that although they readily admit
+    Messrs. —— and Ansell’s claims upon their favourable
+    consideration, they cannot authorise the full amount
+    recommended for them: their Lordships are pleased to fix
+    Mr. —— and Mr. Ansell’s salary at two hundred and twenty
+    pounds a year, including the allowance hitherto received by
+    him for additional attendance—both these augmentations to
+    take effect from the commencement of the present year.
+
+                     (Signed)      “C. E. TREVELYAN.
+    “_Treasury (No. 14409), 3rd September._
+        “THE MASTER OF THE MINT.”
+
+Notwithstanding these facts the Master of the Mint, towards the
+end of 1859, showed by his actions that he meant to introduce his
+bankrupt brother, to whose character your Lordship alluded in the
+House of Lords; and whose ignorance of the duties, coupled with great
+inequality of temper and intemperate habits, rendered him totally unfit
+for the office. Such being the unmistakable intention of Mr. Graham,
+who disregarded the advice tendered to him by influential persons, I
+addressed to him the letter which follows:—
+
+    TO THE MASTER OF THE MINT FROM GEORGE F. ANSELL, ESQ.
+
+                             “_Royal Mint, January 6th, 1860._
+
+    “SIR,
+
+    “I trust you will accord to me the regret with which I bring
+    to your notice affairs relating to myself. Circumstances
+    have placed me in a position which is very anomalous, while
+    my salary is such that I find it quite impossible to manage
+    my payments so as to keep free from debt, and I now most
+    unwillingly approach you upon the subject, hoping that
+    you will permit me to place in your hands the grounds on
+    which I rest my hope, that my application will receive your
+    favourable and early consideration. On the 12th of November,
+    1856, I entered the service of the Mint as a Supernumerary
+    Clerk, and subsequently passed the examination which was
+    enforced by the Civil Service Commissioners, as that process
+    was thought by you to be to my ultimate advantage.
+
+    “In my first interview with you I expressed surprise at the
+    large losses which you said were occurring, notwithstanding
+    the weight of oil which was added to the precious metals in
+    the processes of coining. My conviction of the impossibility
+    of this loss arising if proper supervision were exerted was
+    so great that I at once stated to you, in the presence of
+    Mr. Barton, that there should be no loss at all upon either
+    gold or silver; but that if oil were used there should be an
+    increase of weight.
+
+    “You, sir, gave me such authority in the Coining Department
+    as would enable me to establish my proposition, which you
+    then said was contrary to the facts as found in the Royal
+    Mint, as well as in the Paris Mint.
+
+    “By your orders I commenced my duties in the Rolling Room,
+    and was soon satisfied that the irregularities which
+    existed would quite explain the losses which had taken
+    place. I reported to you faithfully from day to day all
+    irregularities, but upon none did I dwell so earnestly as
+    upon the errors in, and differences of, weighing, attended
+    by circumstances of which I feel it unnecessary to remind
+    you, unless I say that they were reduced and overcome by no
+    ordinary perseverance and at great personal risk.
+
+    “While the balances were in error it was impossible to
+    determine how great the losses were, for they were stated
+    to be more differences of weighing than anything else; but
+    I felt it incumbent on me to experiment carefully on the
+    gold which we were then coining, that I might thus satisfy
+    myself and you of the truths of my proposition. The average
+    of five preceding year’s gave a loss of 597·55 ounces on
+    each million ounces coined; and the result of my first
+    years experimenting was an average loss of 31·06 ounces on
+    the million ounces coined. While the second year gave an
+    absolute increase of weight of 9·22 ounces on the million
+    ounces coined.
+
+    “Your mind will picture the interests which I disturbed, and
+    give me credit for the moral courage which became necessary
+    to support the violent enmity which my course drew down on
+    me, for you are aware of the vigour with which I was met by
+    adverse opinions from Messrs. ——, ——, ——, and ——;
+    these gentlemen, as well as the Junior Clerks, who were
+    supposed to be my colleagues in the Coining Department,
+    openly maintaining that there were, and had been, no
+    unnecessary losses. Threats of personal violence did not
+    deter me from my duty; but the men being well plied with
+    arguments by the Messrs. ——, ——, who were supported by
+    Mr. ——, rendered my course extremely difficult.
+
+    “Mr. —— accused me of adding more oil than he used to
+    permit, and so explained the—as he called it—“apparent
+    stoppage of the losses;” but the fact of my using less
+    oil than had ever been known was so notorious that he
+    subsequently admitted it; nevertheless, the accusation
+    induced me to experiment, and these experiments resulted
+    in the total abolition of the use of oil in the Rolling
+    Room, and on the Cutters; while the minute amount which was
+    necessary at the Draw-Bench was carefully wiped off before
+    the blanks were cut out.
+
+    “Now that the use of oil is abolished gain is impossible,
+    but the loss is invariably covered by the amount for which
+    the sweep is sold, so that my proposition is now more
+    satisfactorily proved than ever. Contemporaneously with
+    these facts I had to encounter equally serious difficulties
+    in the subject of rejected blanks, which reached 70 per
+    cent. on the whole number of blanks cut; but the common
+    average was from 30 to 35 per cent. By rigid experiments,
+    conducted by my own hands, I reduced these abominations to
+    1·00 per cent. on silver, and to 4·00 per cent. on gold,
+    without the aid of Mr. Pilcher’s excellent filing machine.
+
+    “In the year 1857-58, I coined by my own
+    arrangements—although my plans were strongly combated at
+    the time—the largest amount of gold coin ever yet produced
+    in a given time, conducting the coinage without loss, and
+    with a total of 4·50 per cent. of rejected blanks. A large
+    quantity of this gold contained osmium-iridium, but I coined
+    it without its being first refined.
+
+    “In 1859 I coined about £250,000 (64,790·224 ounces) of a
+    peculiarly brittle gold, which was delivered to the Bank
+    of England in June and July, 1859. I believe this to be
+    the first time that brittle gold has been coined so as to
+    produce perfectly good and tough coins.
+
+    “Permit me to remind you that all the elements of wrong
+    still remain in the Mint, and would be re-exerted in the
+    absence of your Mastership; for not one of those officers
+    who permitted these things has been removed.
+
+    “As a consequence of the abolition of the use of oil in the
+    Coining Department, the losses in the Melting-House are
+    greatly reduced.
+
+    “In addition to my works in the Coining Department, I beg to
+    state that I have, by my own hands, reduced the losses in
+    the Melting-House (this was done during the time of using
+    oil in the Coining Department) 33 per cent.; and my figures
+    were not only admitted by Mr. Mushet, but absolutely proved
+    by him to be below the truth.
+
+    “It would be wrong in me to lead you to suppose that I
+    have performed these works without active co-operation; I
+    therefore freely acknowledge the services of Mr. —— during
+    these past two years, and I beg to be permitted to say that
+    he is now rendering you most efficient services.
+
+    “If I have to acknowledge the services of Mr. —— I feel
+    myself bound in justice to say more of Mr. Richard Pilcher,
+    who has, under peculiar circumstances, rendered you through
+    me most valuable services; he has done many things greatly
+    to the advantage of the Mint. In times past, Mr. Pilcher
+    has borne a life best described as that of ‘a toad under
+    a harrow,’ and his position remaining the same, although
+    his present circumstances are altered, he would be again
+    thrust back into the trouble he has just escaped from. I
+    therefore, trusting that you will not think me presumptuous,
+    beg of you to recommend to the Lords of the Treasury, as a
+    temporary measure, that Mr. Pilcher be recognised as holding
+    a position equal to that of a Junior Clerk, and that he may
+    have sole charge of the Weighing Room, with a salary of £200
+    a year, which would be an addition of only £8 18_s._ a
+    year to his present pay. I assure you, most honestly, that
+    Mr. Pilcher is thoroughly competent to conduct the duties
+    of the Weighing Room, for he has conducted them without a
+    single fault for three years.
+
+    “As regards myself, I feel that if you will give me your
+    consideration, you will determine that my works are worthy
+    a special application to the Lords of the Treasury; that my
+    position and salary may be commensurate with my services,
+    which have been rendered in profound confidence in your
+    sense of justice towards those who do their duty to you.
+
+    “You are aware, sir, that of necessity, I have placed myself
+    in direct antagonism with those by whom you are surrounded,
+    and that I can therefore hope for reward at your hands only.
+
+    “With unmeasured hope and confidence,
+
+                  “I am, Sir,
+                        “Your most faithful servant,
+                                          “GEORGE F. ANSELL.
+    “TO THE MASTER OF THE MINT.”
+
+After the “receipt of that letter” the Master told me he would at
+once establish me, but could not make a fresh appointment, because
+the Treasury looked with such distaste on new appointments; but
+he promised me “the first place:” “you shall be first—above them
+all.” That he admitted my claims is proved by the fact that he told
+a mutual friend—whom I had consulted, and by whose advice I wrote
+that letter—that “Mr. Ansell’s claims were stronger than he had
+represented;” but that this was his real opinion is clearly proved, not
+only by his former letters to the Treasury, but by the written orders
+and notes addressed to me, now in my possession, and by the letter
+which he wrote to the Treasury on the 7th June, 1860.
+
+    (EXTRACT.) LETTER FROM THE MASTER OF THE MINT TO THE
+         LORDS COMMISSIONERS OF HER MAJESTY’S TREASURY.
+                                  _Royal Mint, 7th June, 1860._
+    “SIR,
+
+    “In continuation of the account of the waste or loss of
+    bullion sustained in coining gold during the periods from
+    1851 to 1858 which was submitted to the Lords Commissioners
+    of Her Majesty’s Treasury, in my letter of the 22nd May,
+    1858, I beg now to add a return of the waste upon the gold
+    coinage of another year, 1858-9.
+
+    “The waste in the Melting and Coining Departments will be
+    stated separately.
+
+    WASTE IN THE MELTING DEPARTMENT—GOLD COINAGE.
+
+    +--------------+-----------+----------------+-------+-----------+
+    |              | Weight of |                |Amount |           |
+    |    Date.     |    Gold   | Value of Gold  |  of   |   Value of|
+    |              |  Coinage. |   Coinage.     |Waste. |    Waste. |
+    +--------------+-----------+----------------+-------+-----------+
+    |April 1, 1858,|   Ounces. |    £    _s. d._|Ounces.| £  _s. d._|
+    |  to March    | 736150·582|2,866,386 6  6¾ |248·804|968  15 7¼ |
+    |  31, 1859.   |           |                |       |           |
+    +--------------+-----------+----------------+-------+-----------+
+    +--------------+-----------+------------+-----------+
+    |              |  Value    |  Value of  | Value of  |
+    |    Date.     | of Sweep  | Waste per  | Sweep per |
+    |              |recovered. |   Million. |  Million. |
+    +--------------+-----------+------------+-----------+
+    |April 1, 1858,| £  _s. d._|  £  _s.d._ |  £ _s. d._|
+    |  to March    |231  2  1¼ | 337 19 7   | 80 12  6¼ |
+    |  31, 1859.   |           |            |           |
+    +--------------+-----------+------------+-----------+
+
+“The net loss of the department will be obtained by deducting the value
+of the sweep recovered from the value of the waste, reported above, and
+is as follows:—
+
+“On a gold coinage of £2,866,386 6_s._ 6¾_d._ the net loss by account
+in the Melting Department is £737 16_s._ 5¾_d._; this gives on a
+million coined a net loss of £257 7_s._ 0¾_d._ Of the loss by account a
+portion is apparent only, and depends upon the dissipation during the
+melting of the oil and other impurities adhering to the gold scissel.
+The adventitious matter described was acquired by the scissel in the
+coining operations, and it has the effect of lowering the amount of
+loss reported in the Coining Department (as will be seen immediately)
+in the same proportion that it elevates the loss by account of the
+Melting Department. But after making allowances for the circumstance
+just stated, the loss of gold in melting remains higher in my opinion
+than it ought to be, and it will, I trust, be found to admit of some
+further reduction in future years.
+
+    WASTE IN COINING DEPARTMENT—GOLD COINAGE.
+
+    +--------------+-----------+----------------+-------+-----------+
+    |              |           |                |Amount |           |
+    |    Date.     | Weight of |    Value of    |  of   |  Value of |
+    |              |  Coinage. |     Coinage.   |Waste. |   Waste.  |
+    +--------------+-----------+----------------+-------+-----------+
+    |April 1, 1858,|  Ounces.  | £       _s. d._|Ounces.| £ _s. d._ |
+    |  to March    | 736150·582|2,866,386 6  6¾ |16·603 |64 12 11¼  |
+    |  31, 1859.   |           |                |       |           |
+    +--------------+-----------+----------------+-------+-----------+
+    +--------------+-----------+-----------+------------+
+    |              |  Value    | Value of  | Value of   |
+    |    Date.     | of Sweep  | Waste per | Sweep per  |
+    |              |recovered. |  Million. |  Million.  |
+    +--------------+-----------+-----------+------------+
+    |April 1, 1858,|£   _s. d._|£  _s. d._ | £  _s. d._ |
+    |  to March    |209 16  7  |22  11 0¾  | 73  4  0¾  |
+    |  31, 1859.   |           |           |            |
+    +--------------+-----------+-----------+------------+
+
+“On a gold coinage of £2,866,386 6_s._ 6¾_d._ the account shows a waste
+amounting to £64 12_s._ 11½_d._, with sweep recovered amounting to
+£209 16_s._ 7_d._ The Coining Department therefore returns a surplus
+by account of £145 3_s._ 7½_d._; that is, £209 16_s._ 7_d._ less £64
+12_s._ 11¼_d._
+
+“A surplus by account instead of the usual loss was exhibited for the
+first time in the return of the preceding year. A true surplus or
+increase of metal is of course unattainable in any minting operation.
+The increase of weight recorded arises from adventitious matter
+acquired by the gold scissel in the Coining Department, to be again
+lost in the melting, as was just explained. The surplus by account of
+the Coining Department amounts to £50 13_s._ 0_d._ on £1,000,000 coined.
+
+“A correct estimate of the whole waste in coining is obtained by
+combining the returns of the two departments:—
+
+                                    £   _s. d._
+    “Loss of Melting Department    257   7  0¾ per million.
+     Loss of Coining Department     50  13  0         ”
+                                   --------------
+                     Difference    206  14  0¾        ”
+
+“It thus appears that in 1858-9 the net loss in minting £1,000,000 gold
+was £206 14_s._ 0¾_d._
+
+“The annual loss since the reconstitution of the Mint in 1851 is as
+follows.
+
+“Loss of bullion (waste, less sweep recovered) in minting £1,000,000
+gold—
+
+                   £   _s. d._
+    In 1851-52    479   5  8
+     ” 1852-53    921  10  7
+     ” 1853-54    795  11  7¾
+     ” 1854-55    661   2  4¼
+     ” 1855-56    724   1  3
+     ” 1856-57    691  14  1¾
+     ” 1857-58    140   4  7[127]
+     ” 1858-59    206  14  0¾
+     ” 1859-60    187   0  0 partly by estimate.
+
+[Footnote 127: Understated at £99 14_s._ 5½2_d._ in previous letter of
+May 22, 1858, in consequence of the sweep recovered per million having
+been taken at £136 13_s._ 9_d._ instead of £93 3_s._ 7_d._, the correct
+amount.]
+
+“An additional year just completed, 1859-60, which appears in the
+preceding statement, is given subject to a subsequent correction of a
+few pounds more or less, as the sweep of that year (being still unsold)
+is taken by estimate.
+
+“It appears by the table that the average loss on the gold coinage of
+the first six years is £784 0_s._ 0¾_d._; and on the gold coinage of
+the last three years, £172 8_s._ 11½_d._ per million coined; showing
+an improvement of £611 11_s._ 1¼_d._ per million coined. On the twelve
+millions of gold coined, during the last three years, the saving
+exceeds twelve thousand pounds.
+
+“The diminished waste of the late years is further attended with
+increased economy in working, of which, indeed, a low waste return
+is one of the surest indications. The proportion of sovereign blanks
+rejected in passing through the weighing machines, and which require
+to be remelted, causing thereby additional waste of metal and loss of
+labour, has been gradually diminished. This is shown by the following
+returns respecting the work performed in similar circumstances at
+various periods.
+
+    PROPORTION IN 100 SOVEREIGN BLANKS CUT.
+
+    “In 1855    21·49 per cent.
+      ” 1856    18·51     ”
+      ” 1859    13·78     ”      Under present officers.
+      ” 1860     4·11     ”          ”            ”
+
+“The last small proportion of 4·11 per cent. of rejected blanks was
+further reduced to 2·07 per cent. by submitting the heavy portion of
+the blanks to the action of a new filing machine. I may be allowed to
+recall to your recollection that a Parliamentary grant of £1,100 was
+obtained by the Mint in 1856 for the purchase of two automaton filing
+and adjusting machines, which it was proposed to have constructed by
+Messrs. Napier and Sons, the eminent engineers. No part of this grant
+has been appropriated.
+
+“The rapid amendment in the blanks which took place immediately
+afterwards led me to suspend the order for those machines, and
+ultimately to abandon the idea of any great expenditure for the object
+contemplated. In the meantime also a machine of a much more simple
+construction was contrived by Mr. Richard Pilcher, of the Weighing
+Room, and was constructed in the Mint with no assistance from without.
+Pilcher’s adjusting machine has proved sufficiently effective, costs
+nothing for labour, and has now been in constant operation for two
+years. The cost of making a pair of machines such as we now possess
+is estimated at £60, a sum which was saved to the public by the mode
+in which the work was executed. Trusting that the Lords Commissioners
+of her Majesty’s Treasury will be disposed to consider favourably the
+merit and practical value of such an invention, I venture to solicit
+their Lordship’s sanction to the application of £60, the sum just
+stated, to the benefit of the inventor, jointly with an ingenious
+mechanic on the establishment who gave material assistance in the
+construction of the machine. I would propose the following awards, if
+agreeable to their Lordships:—
+
+“To Mr. R. Pilcher £40.
+
+“To Meredith Jones £20.
+
+“Their Lordships have afforded encouragement on previous occasions to
+voluntary efforts made within the Department in improving the machinery.
+
+“On one additional point I would take the opportunity to offer
+information, and also submit a proposition for their Lordships’
+consideration. A correspondence between the Governor of the Bank of
+England and myself, on the property of the gold occasionally imported
+into the Mint to be coined, was formerly brought under your notice
+in my letter of the 21st of March, 1857. The evidence of the evil in
+question was not confined to the Royal Mint, but has, I believe, been
+felt at all other Mints, and also by goldsmiths generally, since the
+recent gold discoveries. It was, however, traced to the presence
+in the gold of a minute portion of antimony or arsenic (often not
+greater in quantity than one-tenth of a per cent.), which escapes the
+observation of the assayers. But no remedy in dealing with such gold
+presented itself, except the expensive one of having the brittle gold
+refined.
+
+“An unusually large proportion of the gold received for coinage
+last year was of this defective character; but the whole of it was
+successfully coined, notwithstanding, and no part returned to the Bank
+to be refined, as on former occasions.
+
+“This improvement in the practice of the Mint is the result of a
+laborious investigation made in the coining department, of which I am
+happy to assign the chief merit to Mr. Ansell. It now appears that the
+antimony or arsenic acts injuriously when the gold blanks are allowed
+to cool gradually, but not when cooled suddenly after annealing; the
+gold appearing to have time to crystallise and become granular under
+the influence of the antimony particles in the one case, but not in the
+other. The improvement may be justly represented as one of considerable
+value. It saves entirely much extra labour hitherto applied to brittle
+gold without any beneficial result. It will also lead to the diminution
+of waste, of which indeed brittle gold was always a fruitful source.
+
+“The services of Mr. Ansell in effecting this improvement appear to me
+well deserving of recognition; and I would strongly recommend the award
+to that gentleman of a moderate grant of such amount as their Lordships
+may be pleased to accord, on account of these services. Mr. Ansell is
+a valuable officer, and no one has contributed more to the reduction
+in other ways of the expenditure of the establishment. Both he and Mr.
+——, another junior officer of the Coining Department, are also engaged
+at salaries (...) which are certainly very moderate, considering the
+responsible duties these gentlemen are called upon to perform.
+
+                               (Signed)      “THO. GRAHAM.
+    “To GEORGE A. HAMILTON, ESQ., Treasury.”
+
+I quote thus much of this letter to prove to your Lordship that THE
+MASTER ADOPTED MY RECOMMENDATIONS; indeed, he specifically stated to
+me that the recommendations for Mr. Pilcher and myself were made with
+a view to support a future application. I would also observe that the
+actual money saving effected by the coining of the brittle gold here
+alluded to was £1,562 7_s._ 11¾_d._, and I desire to be very clear in
+stating that I copied this letter from Mr. Graham’s own writing. That a
+copy of it was sent to the Treasury would seem to be certain, for the
+following reply was received and handed to me by the Master:—
+
+           FROM THE TREASURY TO THE MASTER OF THE MINT.
+
+                     “_Treasury Chambers, 22nd September, 1860._
+
+    “SIR,
+
+    “I am directed by the Lords Commissioners of Her Majesty’s
+    Treasury to acquaint you that the general result of your
+    Report of the 7th June last on the loss of bullion in
+    coining gold in the year 1858-1859 is, in the opinion of
+    my Lords, very creditable to the Department under your
+    management. My Lords willingly accede to your recommendation
+    that £40 should be granted to Mr. R. Pilcher, and £20 to
+    Meredith Jones for their services in the invention and
+    construction of an adjusting machine under the circumstances
+    represented in your Report. My Lords will also be prepared
+    to grant a suitable payment to Mr. Ansell, in recognition
+    of his services in obviating the difficulty in coining gold
+    containing minute portions of antimony or arsenic, and they
+    request that you will report to them the amount that you
+    recommend to be granted to Mr. Ansell.
+
+                        (Signed)      “GEORGE A. HAMILTON.
+
+        “THE MASTER OF THE MINT.
+        “_Mint Number, 2988, 24th September, 1860._”
+
+In answer to this the Master wrote to the Treasury, recommending a
+payment of £100 to Mr. Ansell, and the Treasury reply was as follows:—
+
+    FROM THE TREASURY TO THE MASTER OF THE MINT.
+
+                          “_Treasury Chambers, 19th October, 1860._
+    “SIR,
+
+    “With reference to your letter of the 13th instant, I
+    am directed by the Lords Commissioners of Her Majesty’s
+    Treasury to acquaint you that my Lords are pleased to
+    authorise, in accordance with your recommendation, the grant
+    of £100 to Mr. Ansell in recognition of his services in
+    obviating the difficulty of coining gold containing a minute
+    portion of antimony or arsenic.
+
+                            (Signed)     “GEORGE A. HAMILTON.
+            “THE MASTER OF THE MINT.
+    “_Mint Number, 3024, 20th October, 1860._”
+
+Under my advice, the Master addressed a letter to Mr. Pilcher,
+conveying to that gentleman the £40, having previously written to me
+the following letter:—
+
+    THE MASTER OF THE MINT TO G. F. ANSELL, ESQ.
+                                  “_Royal Mint, 20th October, 1860._
+
+    “DEAR SIR,
+
+    “Your success in obviating the difficulty of coining
+    gold containing a minute portion of antimony or arsenic
+    is a benefit to this department which calls for my most
+    grateful thanks. In recognition of your services, I have the
+    pleasure, with the approbation of the Lords Commissioners
+    of Her Majesty’s Treasury, to present to you the sum of one
+    hundred pounds, for which cheque is enclosed.
+
+              “I have the honour to remain,
+                        “Dear Sir,
+                              “Most faithfully yours,
+                         (Signed)      “THO. GRAHAM.
+
+       “GEORGE F. ANSELL, ESQ.
+    “_Mint Number, 3026, 1860._”
+
+I was not at the time aware that the Master wrote to the Treasury on
+the 8th of June, 1860. That he did so, would seem to be proved by the
+following letter in reply; but that he should write on the next day
+after his letter of the 7th June, 1860, renders it possible that he
+made some alteration after that letter left my hand. I have not, my
+Lord, seen the letter written on the 8th June and alluded to in the
+next.
+
+    (EXTRACT.) LETTER FROM THE TREASURY TO THE MASTER OF THE MINT.
+
+                          “_Treasury Chambers, 25th September, 1861._
+    “SIR,
+
+    “I am commanded by the Lords Commissioners of Her Majesty’s
+    Treasury to inform you that, having in consideration the
+    very favourable opinion expressed in your Report of the
+    8th June, 1860, as to the ability and vigilance displayed
+    by Messrs. —— and Ansell, and the saving which has been
+    effected in the processes at the Mint under your direction,
+    their Lordships are pleased to sanction the increase of £30
+    a year to the salaries of those gentlemen, to take effect
+    from the commencement of the present quarter, as recommended
+    in your letter of the 6th instant.
+
+                          (Signed)       “GEORGE A. HAMILTON.
+
+        “THE MASTER OF THE MINT.
+    “_Mint Number, 454, 26th September, 1861._”
+
+On the introduction to the Mint of Mr. John Graham all was changed,
+and it became clear that I was to be sacrificed. Mr. Barton, then
+Deputy-Master, therefore advised me to bring the matter to an issue
+by applying for the first vacant office. This I did, but my note was
+not even acknowledged; the Master, however, obtained a “Minute” from
+the Lords of the Treasury to the effect that _extra clerks were not
+at liberty to apply for promotion_, and this was conveyed to me by a
+messenger. To the office for which I had thus applied, Mr. John Graham
+who was then an extra clerk, was subsequently appointed. Upon the
+occurrence of the death of Mr. W. T. Brande, whose office had been
+specifically promised to me, I spoke to the Master of the Mint; but
+he assured me “The Treasury would fill up the vacancy, for they were
+dissatisfied with the whole of the Mint appointments.” He, however,
+appointed his brother, notwithstanding his acknowledged incompetence
+and unfitness. It was on the occurrence of that event that Mr. Barton
+strongly “advised me, on the event of the next vacancy to apply for it
+over the Master’s head, if you can get an influential person to back
+you.”
+
+Finding the ground thus removed from my feet, I sought counsel with my
+friends, and determined to renew my studies in chemistry—having, in
+consequence of the Master’s promises, relinquished that profession when
+I entered the Mint.
+
+It now becomes necessary to show by what occurrences my name was
+brought to your Lordship’s notice, and this I will do briefly.
+
+When I had completed my laboratory in Bernard Street, I called on Mr.
+Robert Hunt, F. R. S., and asked him what subject would be likely to do
+me most service. He at once kindly suggested “a means to find fire-damp
+in coal mines—one that will act unerringly, and require no attention
+from man.” I at once adopted the subject for study, and Mr. Hunt gave
+me many kind letters of introduction that I might “see my enemy at
+home,” especially a note to Mr. Oakes of Riddings House, Alfreton,
+whose generosity and hospitality were very prominent. I told that
+gentleman the object of my visit, and talked with him at considerable
+length, for I found in him a man singularly desirous to help his
+fellow-men. Mr. Oakes invited his brother to take me to a pit at a
+distance of about four miles, where I should be almost sure to find
+some fire-damp, and to this pit Mr. Oakes, junior, most kindly took me.
+The coal pit was itself a very remarkable one, and contained singular
+evidences in the history of the past. It will ever be associated with
+the invention of my “Fire-damp Indicator,” for it was in this pit
+that the idea for its formation occurred to me. If, therefore, this
+instrument should fortunately be the means of saving life, that benefit
+will have arisen from the kindness of Mr. Oakes. When I had made my
+instruments, I took them to the Mint, and showed them to Mr. Graham.
+Diffusion being fitly styled GRAHAM’S LAW, I took it for granted he
+would be pleased to find that force applied practically. I said to him,
+“I have proposed, Mr. Graham, to indicate the existence of fire-damp in
+coal mines.” He replied, “Ah, yes; that subject comes up every seven
+years.” I placed an instrument on his table, and asked if he would look
+at it, saying, “I propose to use your law of diffusion.” Before I had
+finished the word _diffusion_ he cut in upon me with an exclamation of
+great force, “Good God! what would I have given for that thought!” I
+said, “God gave it to me.” To which he said, “I was on the Coal Mines
+Commission, and I did all I could to find a means of discovering the
+presence of that dreadful gas.” He refused to examine my apparatus, on
+the ground that he objected to the smell of gas, but said, “the honour
+of being associated with you in it would be so great that I shall be
+glad if you will allow me to pay all expenses, and you can make your
+experiments in my laboratory; the apparatus shall be left there.” I,
+however, declined his offer.
+
+I exhibited the apparatus, as was but natural, in the first instance
+to Mr. Robert Hunt, at his residence, and afterwards to many other
+scientific men. It was subsequently noticed in the _Times_, in very
+high terms. A few days after that event, I received a note from Dr.
+Angus Smith, F.R.S., asking if I could “exhibit my experiments to
+Lord Kinnaird at 2 P.M. to-morrow.” I gladly accepted the proposed
+appointment, and suggested whether “his Lordship could obligingly come
+to me at 27, Bernard Street,” which he courteously did, accompanied
+by Mr. P. H. Holland and Dr. Angus R. Smith. I then found that Lord
+Kinnaird was Chairman, and Mr. Holland a Commissioner, of the Royal
+Commission of Mines. Your Lordship, as you may remember, honoured me by
+remaining in company with Mr. Holland and Dr. A. Smith for more than
+two hours, examining minutely every detail. From that day you have
+spared neither time nor labour to induce coal owners to adopt and use
+my “Indicator,”—which your Lordship also brought under the notice of
+Her Majesty, who deputed H.R.H. the Duke of Edinburgh to examine it on
+her behalf. This His Royal Highness graciously did at my residence.
+It has also been distinguished by mention in the Preface to the last
+edition of Ure’s Dictionary, in which work it is fully described. In
+practical operation it has proved to be entirely successful even in
+the hands of working colliers, who have, on more than one occasion,
+said to me, “When men’s lives are as valuable as those of horses, your
+instruments will be used; but, you see, they buy horses, and men they
+get for nothing.”
+
+I took occasion to speak with your Lordship about my troubled position
+at the Mint, and asked permission to make known to you all the
+circumstances. You having thus heard from me a statement of my views,
+advised me to await the arrival of the proper time, and stated that
+then you would assist me. I have already said that Mr. Barton advised
+me to apply over Mr. Graham’s head for promotion when a vacancy should
+occur, and I therefore waited that event. Unfortunately for me, Mr.
+Barton was the first to be removed by death, he having died on the 25th
+August, 1868. I had, therefore, no powerful friend left in the Mint.
+
+It was amidst such circumstances that I sought the assistance of your
+Lordship; which commenced with the following correspondence:—
+
+    FROM THE RIGHT HON. LORD KINNAIRD, K.T.,
+         TO THE RIGHT HON. B. DISRAELI.
+
+                            “_Rossie Priory, Inchture, N.B._,
+                                       “_August 28th, 1868._
+    “DEAR SIR,
+
+    “May I ask you to read the enclosed—I cannot, of course,
+    ask you as from myself to attend to the application
+    therein—but having become acquainted with Mr. Ansell during
+    the time I was Chairman of the Mines Commission, I was so
+    struck with his intelligence and ingenuity, combined with
+    a great knowledge of chemistry, that I felt he was a very
+    valuable public servant. Mr. Ansell has invented a machine
+    for the discovery of fire-damp in mines, which, if generally
+    adopted, would be the means of preventing great loss of
+    life from explosions in coal mines, and I am convinced that
+    if you could find time you would be much interested in
+    witnessing his experiments.
+
+    “Mr. Ansell has no friends in high quarters to bring his
+    claims under your notice; I venture therefore to do so,
+    however unwillingly, because I feel that he is deserving,
+    and especially well fitted for the appointment. With many
+    apologies for troubling you,
+
+                 “I remain,
+                         “Yours faithfully,
+                     (Signed)        “KINNAIRD.
+
+       “THE RIGHT HON. B. DISRAELI.”
+
+                          ENCLOSURE.
+
+                               “_Royal Mint, August 28th, 1868._
+    “SIR,
+
+“I most respectfully request your attention to the following statement
+of my claim for promotion consequent on the death of the Deputy
+Master of the Mint, Mr. Barton. By a letter dated 29th October,
+1856, addressed to the Treasury, I was recommended by Mr. Thomas
+Graham, F.R.S., the Master of the Mint, as fit to be appointed to a
+Supernumerary Clerkship in the Royal Mint.
+
+“On the 12th of November, 1856, I was appointed to that office at
+a salary of £120 per annum, having previously passed the necessary
+examination before the Civil Service Commissioners. The internal
+management of the Mint then was, and had for some time previously,
+been in great confusion; the workmen were disorderly and dishonest,
+peculation was of daily occurrence, and it was universally believed
+that the processes of coining could not be carried on without
+considerable loss. Moreover, in consequence of the various modes by
+which bullion was then weighed, it was almost impossible to detect
+dishonesty. Nor was this all, for the blank coins were so imperfectly
+executed that it was always necessary to reject and return to the
+melting-pot from 15 to 35 per cent.
+
+“From 1851 to 1856 the average ‘loss by coining,’ as it was then
+called, was
+
+    In  gold,  £581·42 per million pounds sterling.
+    In silver, £271·00 per million ounces coined.
+
+“During the same years the average number of blank coins rejected was
+
+    In  gold,  17·92 per cent.
+    In silver, 25·00    ”
+
+“At this period, owing to the use of oil on the metal in the processes
+of coining, an additional loss was incurred in the melting. The average
+loss by melting during the same period being,
+
+    In  gold,  £356·33 per million pounds sterling.
+    In silver, £210·75 per million ounces coined.
+
+“Soon after I entered the Mint I was taken into the confidence of the
+Master.
+
+“I satisfied him that by proper management and vigilance no loss
+ought to be incurred by the processes of coining; that if due care
+were taken, scarcely any of the blank coins, when completed, would be
+rejected, and that a further saving to the Government would be effected
+by abolishing the use of oil in the processes of coining.
+
+“Mr. Graham entrusted to me the sole task of carrying out these
+reformations, at the same time promising that if I were successful I
+should be amply rewarded by promotion.
+
+“You, Sir, will be able to judge of my success by the following
+results:—
+
+“Instead of any ‘loss by coining’ since 1856 to the present date, there
+has been, on the average, a positive gain:—
+
+    In gold, £20 per million pounds sterling coined;
+    While for silver, £55·75 per million ounces coined is the total average loss.
+
+“During the same time the average number of blank coins rejected has
+been
+
+    In  gold,  2·07 per cent.
+    In silver, 1·00    ”
+
+“During the same period the average loss by melting has been reduced to,
+
+    In gold,   £271·90 per million pounds sterling.
+    In silver, £57·90 per million ounces coined.
+
+“In 1857, as you, Sir, will doubtless perfectly remember, there arose
+a very great pressure on the Bank of England for coined gold; any
+endeavour to supply this unusual demand necessitated great exertion
+on the part of the Mint, and the Master of the Mint placed the matter
+entirely in my hands. I produced, without a single instance of loss by
+peculation, and with an average of only 6 per cent. rejected blank
+coins, 1,100 journey weights of sovereigns per week, being more by 200
+journey weights than had ever before been obtained. I thus was the
+humble means of saving the country from experiencing the disastrous
+effects consequent on the Bank of England being unable to meet the
+demand for gold—a state of things almost universally expected at the
+time as the unavoidable result of the then monetary crisis.
+
+“In 1858, during the temporary absence on leave of the Master Melter,
+the Master of the Mint, by a written order, directed me to conduct the
+melting department. This I did with such success as to reduce the then
+ordinary loss by melting by no less than 33 per cent.
+
+“By a letter to the Treasury, dated 17th August, 1858, Mr. Graham
+recommended my salary to be increased to £220 per annum. This was done
+soon afterwards.
+
+“In 1859 I endeavoured to coin a large quantity of brittle gold, which
+had up to that time, not only in the Royal Mint, but also in the mints
+of other countries, been invariably rejected, under the impression that
+it was totally unfit for coining purposes in consequence of its extreme
+brittleness. I coined and sent to the Bank of England upwards of a
+quarter of a million pounds sterling of this brittle gold, the coins
+having proved to be so tough that they could not be broken by ordinary
+means. For this service I received from Mr. Graham a letter, dated 20th
+October, 1860, conveying to me ‘his most grateful thanks,’ and from
+the Lords of the Treasury a small gratuity of £100, awarded to me in
+consequence of a letter to the Treasury from the Master of the Mint,
+dated 13th October, 1860, recommending that such a donation should be
+made.
+
+“By a subsequent letter, dated September 6th, 1861, Mr. Graham
+recommended the Lords of the Treasury to raise my salary to £250 per
+annum. His recommendation was at once acceded to on the part of the
+Treasury.
+
+“In 1862, at the request of the Master of the Mint, I undertook the
+destruction of the old copper money, and destroyed from 10 to 16 tons
+per diem, at the comparatively small cost of 8_s._ 4_d._ per ton.
+Before this work was put under my charge 2 tons per diem had never
+been destroyed; and in the Paris Mint, where a similar process of
+demonetising had been in operation, the cost had never been less than
+£10 per ton.
+
+“On several occasions offers were made to me of situations (unconnected
+with the Royal Mint) in which I should have earned a much greater
+salary than that which I now receive, but I have always been induced to
+refuse them by the express promises made to me from time to time by the
+Master of the Mint, Mr. Graham, that he would ensure my being placed in
+a safe position in the Mint.
+
+“In the month of November, 1863, the office of Assistant Coiner became
+vacant. No one, so far as I am aware, had performed so many or so
+important services as to give him such a claim to that appointment as
+I possessed; but, much to my surprise, Mr. Graham ignored my claims,
+and appointed to the vacant office his brother, Mr. John Graham,
+a gentleman considerably junior to me in the service of the Mint.
+Smarting under what I conceived the injustice I had experienced from
+the Master of the Mint, I wrote perhaps too strongly, but for this
+I have apologised, and he has accepted my apology, but I feel that
+it is probable that the Master of the Mint will, consequently on the
+estrangement between us, not recommend me for the appointment, and I
+can only rely on my services (into which I hope you will kindly cause
+inquiry to be made), as giving me a claim, and therefore venture to
+address you by the advice of Lord Kinnaird.
+
+“The unwillingness which I have cause to fear on the part of the Master
+of the Mint to recommend me will not, I am sure, arise from a belief of
+my unfitness—as in 1864 he offered to secure to me the appointment of
+Chief Coiner and Melter to the Hong Kong Mint, at a salary of £1,000
+a year—an appointment which, being the father of a family, I was
+compelled to decline.
+
+“I have to apologise for thus venturing to address you, which I could
+only think of doing under the belief that you will take into your
+favourable consideration the application of one who has endeavoured
+faithfully and zealously to fulfil his duty, and not without some
+success, as I have endeavoured to point out.
+
+              “I have the honour to be, Sir,
+                      “Your most obedient servant,
+                   (Signed)      “GEORGE P. ANSELL.
+
+       “THE RIGHT HONOURABLE B. DISRAELI,
+    “Hughendon Manor, Buckinghamshire.”
+
+This application, I would remind your Lordship, was made while Mr.
+Disraeli was First Minister of the Crown, and was acknowledged as
+follows:—
+
+                 “_10, Downing Street, Whitehall, August 31st, 1868._
+
+    “MY LORD,
+
+    “I am directed by Mr. Disraeli to acknowledge the receipt of
+    your Lordship’s letter of the 28th inst., and to acquaint
+    you that he has made a note of its contents.
+
+           “I have the honour to be, my Lord,
+                     “Your obedient servant,
+                    (Signed)      “MONTAGU CORRY.
+
+      “THE LORD KINNAIRD.”
+
+On the 3rd September, 1868, Mr. Montagu Corry called on the Master of
+the Mint and remained with him some considerable time.
+
+On the 28th September I received by a messenger, without any further
+intimation, the following note:—
+
+    THE MASTER OF THE MINT TO G. F. ANSELL, ESQ.
+                      “_Royal Mint, 28th September, 1868._
+
+    “DEAR SIR,
+
+    “I regret to have to inform you that it is not in my power
+    to continue your present engagement as an extra officer in
+    the coining department while the Mint is only so partially
+    occupied as it has been for some time past.
+
+    “Your assistance will not, therefore, be required beyond the
+    31st December next.
+
+               “I remain, faithfully yours,
+                    (Signed)        “THO. GRAHAM.
+
+      “G. F. ANSELL, ESQ.”
+
+Which I immediately forwarded to your Lordship, asking advice, when you
+were so good as to write as follows:—
+
+    THE RT. HON. LORD KINNAIRD, K.T., TO THE RT. HON. B. DISRAELI.
+                “_Rossie Priory, Inchture, N.B., September 30th, 1868._
+
+    “DEAR SIR,
+
+    “I venture to trouble you on behalf of Mr. Ansell, of the
+    Royal Mint, who I had advised to apply to you for the
+    appointment of Deputy Master of the Mint, as from his
+    long experience in the Department, and great ability as a
+    chemist, I felt he deserved promotion, and was in every
+    way fitted for the office. It seems however, that his
+    application has drawn down the ire of the Master of the
+    Mint, who, I suppose, wished to have some friend of his own,
+    consequently Mr. Ansell has received a very curt dismissal
+    (copy enclosed).
+
+    “It is very hard on a public servant who has done his duty
+    for so many years to be thus summarily dismissed, and I
+    therefore venture again to trouble you on the subject,
+    feeling confident that your sense of justice will dispose
+    you to view the matter favourably.
+
+          “Yours faithfully,
+           (Signed)       “KINNAIRD.
+
+        “THE RIGHT HON. B. DISRAELI, GROSVENOR GATE.”
+
+Your Lordship also wrote letters to the noblemen and gentlemen who had
+supported my application.
+
+On the 2nd December, 1868, Mr. Disraeli, on the eve of his resignation,
+appointed Mr. C. W. Fremantle—his private secretary—to the vacant
+office of Deputy-Master of the Mint.
+
+    THE RT. HON. LORD KINNAIRD, K.T., TO THE RT. HON. W. E. GLADSTONE.
+                 “_Rossie Priory, Inchture, N.B., December 25th, 1868._
+
+    “DEAR MR. GLADSTONE,
+
+    “I should not have troubled you at present, as you still
+    must have much to occupy your time and attention; but the
+    case I have to bring before you is _pressing_, as, if
+    anything is to be done in the matter, initiatory steps must
+    be taken before the 31st.
+
+    “During the time I was engaged on the Mines Commission, I
+    became acquainted with Mr. G. F. Ansell, of the Mint, who
+    has invented a most ingenious instrument for detecting
+    fire-damp in mines, which, if generally adopted in working
+    coal pits, would, I am perfectly satisfied, be the means
+    of saving life to a very great extent. I have, therefore,
+    taken great interest in Mr. Ansell, and on the occasion of
+    the death of the Deputy Master of the Mint, I and other
+    friends of his applied to the late Government to appoint him
+    to the vacant office, and we believed that he would get the
+    appointment for which he is so well qualified. Some delay,
+    however, took place, which, we were led to believe, was
+    owing to the Master of the Mint, Mr. Graham, being opposed
+    to it, and he at the same time, on the plea that Mr. Ansell
+    was a supernumerary clerk, though _he had been twelve
+    years_ in the service, gave him notice to quit on the
+    31st of this month, and the office of Deputy has been filled
+    up.
+
+    “Now Mr. Ansell, who is a very able chemist, and has got
+    the very highest testimonials, gave up his profession under
+    a promise that he was to get a permanent appointment in
+    order to undertake a most difficult task—that of detecting
+    peculations which were taking place in the Mint. In this he
+    succeeded, and was highly complimented by the Master of the
+    Mint in letters to the Treasury which can be seen.
+
+    “The fact is, he saved the country, as the tables will
+    show, upwards of £27,000, to say nothing of the advantage
+    of putting a stop to peculations, and introducing order and
+    economy in the working of the Mint.
+
+    “Mr. Graham, though having borne, and still bearing, witness
+    to Mr. Ansell’s high qualifications to the office, has
+    conceived a strong dislike to Mr. Ansell, because, as I
+    understand, Mr. Ansell remonstrated with him, and has spoken
+    to the Master in strong terms, on the appointment of his
+    brother, Mr. John Graham, to an office in the Mint.
+
+    “In consequence of this ill-will, and of Mr. Ansell having
+    applied to the late Government for the appointment of Deputy
+    Master, Mr. Ansell has been dismissed, _after twelve
+    years’_ service, on the _plea_ that there is no work
+    for him. Although a fresh coinage is about to take place
+    immediately, and I think there is every probability of these
+    peculations being again carried on if inefficient men are
+    appointed, and there is no one to check them as Mr. Ansell
+    did, I think I am justified, for the sake of the public
+    service, independent of the hardship of the case, in asking
+    you to _cause an inquiry_ to be made into the reason
+    of a public servant being dismissed after twelve years of
+    service, and, in the mean time, to order the dismissal to be
+    suspended till the inquiry is made.
+
+    “If you would get one of the Junior Lords of the Treasury to
+    hear Mr. Ansell’s statement, he will, I am sure, be able to
+    satisfy himself as to the truth of what I have stated, and
+    be able to enlighten you as to what has taken place in the
+    office of the Mint. With many apologies for troubling you,
+
+                “I remain, yours faithfully,
+                     (Signed)       “KINNAIRD.
+
+       “THE RT. HON. W. E. GLADSTONE, &c., &c.”
+
+On the 30th December your Lordship wrote me a letter, in which you
+said:—
+
+“Mr. Gladstone writes me, ‘I have at once transmitted your letter to
+the Chancellor of the Exchequer, to whose cognisance it belongs.’ I
+have written to Mr. Lowe.”
+
+Your Lordship again wrote on the 5th January, 1869, enclosing a letter
+
+    FROM THE RT. HON. ROBERT LOWE TO THE RT. HON. LORD KINNAIRD, K.T.
+                      “_11, Downing St., Whitehall, 4th January, 1869._
+
+    “MY DEAR LORD,
+
+    “Mr. Ansell, in whom you have interested yourself, is, I
+    have ascertained, a temporary clerk in the Mint, and the
+    duration of his employment must accordingly depend on the
+    necessities of the Department, of which the Master of the
+    Mint is the only judge. The Treasury could not, therefore,
+    interfere with Mr. Graham’s discretion in such a case.
+
+    “I have, however, felt it my duty to make a particular
+    inquiry as to the nature of the expectations held out to
+    Mr. Ansell when his engagement commenced, and which you
+    have been informed amounted to a promise that he was to get
+    a permanent employment; but I am informed by the Master of
+    the Mint—the only person who could, I imagine, have made
+    such a promise—in the most positive terms, that he never
+    gave Mr. Ansell, either before or after he went to the Mint,
+    any encouragement to look for a permanent engagement. Under
+    these circumstances, whatever the merits of Mr. Ansell may
+    be, I am afraid I cannot undertake so serious a proceeding
+    as to interfere with the course which the Master of the Mint
+    may consider it proper to pursue in this matter.
+
+                   “Believe me,
+                        “Yours truly,
+                (Signed)      “ROBERT LOWE.
+
+       “LORD KINNAIRD.”
+
+On the 6th January, 1869, I, by the advice of your Lordship, took the
+opinion of eminent counsel, before whom I laid proofs of my statements.
+Counsel advised me to draw up a Memorial, and ask your Lordship to
+present it to the Treasury. This I did, with the assistance of a
+well-known solicitor, who used infinite pains. The Memorial was as
+follows:—
+
+    “TO THE RIGHT HONOURABLE THE LORDS COMMISSIONERS OF
+             HER MAJESTY’S TREASURY.
+
+    “THE Humble Memorial of GEORGE FREDERICK ANSELL,
+     of No. 27, Bernard Street, Russell Square, Analytical Chemist.
+
+    “Sheweth as follows:—
+
+    “In the month of October, 1856, the Master of the Mint
+    called upon your Memorialist, and offered to nominate him
+    to a position in Her Majesty’s Mint, and promised that he
+    should be promoted if he succeeded in effecting the object
+    the Master of the Mint had in view, which was to reform
+    certain abuses which prevailed extensively in the coining
+    department, in which there was then, and had been for some
+    time previously, great waste, owing to the carelessness
+    and peculations of those employed in conducting some of
+    the processes in that department. There were also great
+    irregularities and disobedience of orders and disregard
+    of regulations. All those circumstances combined, caused
+    considerable loss in the operation of coining, and the
+    Master of the Mint informed your Memorialist that he
+    understood it to be the intention of the Government to put
+    the coinage out to contract, unless it could be conducted
+    with greater economy in the Mint. Upon the understanding and
+    in the belief that he was to be promoted when any vacancy
+    in a higher office should occur, your Memorialist accepted
+    the offer made to him, and relinquished the professional
+    pursuits he was engaged in prosecuting, and agreed to devote
+    the whole of his time and energies to the service required
+    of him. Consequently upon this, the Master of the Mint, in
+    a communication dated the 29th of October, 1856, submitted
+    a proposition for the consideration of your Lordships’
+    predecessors in the following terms:—
+
+    “‘Under this designation I desire to introduce a young man
+    recommended by scientific or technical information available
+    in coining, by energy of character, and by tried ability in
+    the supervision of workmen—a faculty by no means common....
+    I have been led to propose the name of Mr. George Frederick
+    Ansell as temporary clerk. Mr. Ansell was educated under
+    Dr. Hofmann, and acted for some years as his laboratory
+    assistant. He has since been scientific director in the
+    Royal Panopticon, in Leicester Square, which was lately
+    broken up. He appears to be a person of superior education
+    and ability, and great activity and vigour of character,
+    and, as I have been assured, has shown much discretion in
+    the management of both pupils and workmen. Mr. Ansell, if
+    appointed, would be placed in the rolling room, and have
+    charge of putting the bars into work.’
+
+    “On the 4th of November, 1856, your Lordships’ predecessors
+    approved of the recommendation of the Master of the Mint,
+    and on the 12th of November, 1856, your Memorialist entered
+    upon his service. Before taking active duty, he inquired
+    of the Master what latitude was allowed in case of any
+    difference of weight between the bullion given to the men
+    and the return. The Master replied that he did not know, but
+    that there had always been considerable loss in the room
+    your Memorialist was to enter. Your Memorialist assured the
+    Master that there ought to be no loss, and stated that if he
+    were supported he would demonstrate it. The Master of the
+    Mint promised to give your Memorialist full authority, and
+    also assured him that he might depend upon promotion if he
+    were able to carry out what he had stated.
+
+    “In a very short time after your Memorialist had entered
+    upon his duties the losses were stopped, the men became
+    obedient to orders, and all irregularities ceased; but it
+    was not without exciting considerable ill-will amongst some
+    of the men and officers employed that your Memorialist
+    succeeded in accomplishing the ends in view.
+
+    “Previously to your Memorialist entering upon his duties,
+    peculation had been of almost daily occurrence. In
+    consequence of the various modes by which the bullion was
+    then weighed, it was almost impossible to detect dishonesty.
+    In addition to this, the blank coins were so imperfectly
+    made, that it had always been necessary to reject and return
+    to the melting-pot quantities ranging from 15 to 35 per cent.
+
+    “During the six years, 1851 to 1856, the average loss by
+    coining, as it was termed, was as follows:—
+
+        In gold,   £581·420 per million pounds sterling.
+        In silver, £271·000 per million ounces coined.
+
+    In addition to this, a loss was incurred in the melting,
+    owing to the use of oil in the processes of rolling and
+    cutting out, and the average of this loss during the same
+    period was:—
+
+        In gold,   £356·330 per million pounds sterling.
+        In silver, £210·750 per million ounces coined.
+
+    “During the same period, the average number of blank coins
+     rejected was:—
+
+        In gold,   17·92 per cent.
+        In silver, 25·00    ”
+
+    “The Master of the Mint entrusted solely to your Memorialist
+    the task of carrying out such reforms, and taking such steps
+    as your Memorialist considered necessary to put a stop to
+    the peculations and waste above mentioned.
+    “The result of such superintendence by your Memorialist
+    has been that, during the years from 1857 to 1866, instead
+    of any loss by coining, there has been, on the average, a
+    positive gain, inasmuch as the gain on gold amounted to
+    £20 per million sterling, whilst the loss in silver was
+    reduced from £271 per million ounces, to £55 per million
+    ounces. During the same period, the average number of blanks
+    rejected has been, in gold, only 2·07 per cent., and in
+    silver, only 1·00 per cent. The average loss by melting was
+    also reduced to the following:—
+
+        In gold, £271·900 per million pounds sterling.
+        In silver, £57·900 per million ounces coined.
+
+    “The following tabular statement, compiled from the
+    official books of the Royal Mint, shews the average loss by
+    peculation during the six years 1851-1857, and the saving
+    effected under your Memorialist’s management during the
+    years 1857-1866:—
+
+    +-----------------------------------------------------------------+
+    |                 Coining Department.                             |
+    +-------+----------+------------+-----------------+---------------+
+    |       |          |  Absolute  |   Averages per  |Absolute saving|
+    | Date. |  Money   |  loss by   |    £1,000,000   |  effected by  |
+    |       | coined.  |peculations.|     coined.     |   stopping    |
+    |       |          |            |                 |  peculation.  |
+    +-------+----------+------------+--------+--------+---------------+
+    |       |          |            |  Loss. |  Gain. |               |
+    |       |          |            +--------+--------+               |
+    |       |     £    |     £      |   £    |   £    |       £       |
+    |1851-57|40,345,185|  20,030    |  491   |   —    |       —       |
+    |1857-66|50,894,385|    Nil.    |  Nil.  |   26   |     27,736    |
+    +-------+----------+------------+--------+--------+---------------+
+    +------------------------------------------+
+    |              Melting Department.         |
+    +-------+--------------+-------------------+
+    |       | Average loss |  Absolute average |
+    | Date. |  by melting  |  saving effected  |
+    |       |per £1,000,000|  by the disuse of |
+    |       |    coined.   |oil on the scissel.|
+    +-------+--------------+-------------------+
+    |       |              |                   |
+    |       |              |                   |
+    |       |      £       |        £          |
+    |1851-57|     261      |        —          |
+    |1857-66|     233      |        28         |
+    +-------+--------------+-------------------+
+
+“The result from the above table is that in the period 1851-1857
+£40,345,185 in gold was coined at a loss to the Government by
+peculations and waste in coining of upwards of £20,000, whilst by the
+gains and savings effected by your Memorialist, amounting to £545 in
+each £1,000,000 coined, the gain to the Government during the years
+1857-1866 amounted to £27,736, and this in the gold alone, and quite
+independently of the saving effected in the coining of silver.
+
+“In the year 1857, shortly after the appointment of your Memorialist,
+there was a great demand and pressure on the Bank of England for gold
+coin, and the endeavour to supply this unusual demand necessitated
+great exertion on the part of the Mint. The Master of the Mint placed
+the matter entirely under the direction of your Memorialist, who was
+the means of producing, without a single instance of loss by peculation
+and with an average of only 6 per cent. of rejected blanks, 1,100
+journey weights of sovereigns per week, being more by 200 journey
+weights than had ever before been obtained. This extra production
+undoubtedly contributed largely to meet the demand for gold and relieve
+the pressure on the Bank during the monetary crisis of that year.
+
+“In the year 1858, during the temporary absence on leave of the Master
+Melter, the Master of the Mint directed your Memorialist to conduct
+the melting department, and during such superintendence of it your
+Memorialist reduced the then ordinary loss in melting by no less than
+33 per cent.
+
+“In the month of August of that year the Master of the Mint recommended
+your Memorialist’s salary to be increased from £120 per annum to £220.
+
+“In the year 1859 a large quantity of brittle gold had been brought to
+the Mint, and up to that time that kind of gold had been invariably
+rejected by the Royal Mint, as well as by the Mints of other countries,
+under the impression that it was totally unfit for coining in
+consequence of its extreme brittleness. Your Memorialist endeavoured
+to turn this gold to account, and succeeded in coining it; and upwards
+of a quarter of a million sterling of this coined gold was sent to the
+Bank of England, and the coins proved to be so tough that they could
+not be broken by the ordinary means. For this service your Memorialist
+received from the Master of the Mint a letter expressing his ‘most
+grateful thanks,’ and upon his recommendation, in the month of October,
+1860, a gratuity of £100 was awarded to your Memorialist by your
+Lordships’ predecessors, and in the year 1861 your Memorialist’s
+salary was raised from £220 to £250 per annum. Your Memorialist also
+originated and developed the plans by which the new bronze money was
+coined previous to its issue in 1860. Those plans are still followed,
+and in consequence of your Memorialist’s investigations of the
+subject, Messrs. Heaton and Messrs. Grenfell were referred to him for
+information and assistance by the Master of the Mint.
+
+“In the year 1862 your Memorialist, at the request of the Master of
+the Mint, undertook the destruction of all the old copper coinage,
+and destroyed from 10 to 16 tons per diem, at the comparatively small
+cost of 8_s._ 4_d._ per ton. Before this work was put under your
+Memorialist’s charge, scarcely so much as 2 tons per diem had ever been
+destroyed; and in the Paris Mint, where a similar process had been in
+operation, the cost had never been less than £10 per ton.
+
+“Down to this period, offers had been made to your Memorialist on
+several occasions of situations unconnected with the Royal Mint,
+at a much higher salary than he was in receipt of there, but your
+Memorialist was induced to decline them in consequence of the
+assurances of the Master of the Mint that his position there should
+be greatly improved. In the month of November, 1863, the office of
+Assistant Coiner became vacant. No one, so far as your Memorialist
+is aware, had performed so many or such important services in the
+establishment as he had done; but his claims were ignored, and the
+Master of the Mint, passing over him, appointed his own brother, Mr.
+John Graham (who was considerably junior in the service), to the vacant
+post.
+
+“Upon the death of the late Mr. Barton, Deputy-Master of the Mint, your
+Memorialist applied to the Right Honourable the then First Lord for
+promotion, but he appointed Mr. Fremantle, his private secretary, to
+Mr. Barton’s office, and no other change or promotion was made.
+
+“On the 28th of September, 1868, your Memorialist received his
+dismissal from the service, in the following letter from the Master of
+the Mint—
+
+                           ‘_Royal Mint, 28th September, 1868._
+    ‘DEAR SIR,
+
+    ‘I regret to have to inform you that it is not in my power
+    to continue your present engagement as an extra officer in
+    the coining department while the Mint is only so partially
+    occupied as it has been for some time past. Your assistance
+    will not therefore be required beyond the 31st of December
+    next.
+                 ‘I remain,
+                      ‘Faithfully yours,
+                                   ‘THO. GRAHAM.
+
+      ‘G. F. ANSELL, ESQ.’
+
+“Notwithstanding the intimation conveyed by the above letter that
+your Memorialist’s services were no longer required in consequence of
+the coining department being only partially occupied, it is the fact
+that another gentleman, who was an extra clerk in the bronze store
+department, and considerably your Memorialist’s junior (but who is
+private secretary to Mr. John Graham, the brother of the Master), has
+been appointed to the same post as your Memorialist held; and it is
+also the fact that the Mint is now executing a new coinage of about
+£5,000,000 of gold, and your Memorialist believes that it will be
+found, on investigation, that losses have again occurred, upon this
+and the last preceding coinage, which was not superintended by your
+Memorialist.
+
+“Upon a reference to the communications to the Treasury from the Master
+of the Mint, under the dates of
+
+    29th October, 1856,
+     6th August, 1857,
+    17th August, 1858,
+     7th and 8th July, 1860,
+
+it will be seen that your Memorialist’s services have been referred
+to by the Master of the Mint in terms of high approbation, and your
+Memorialist can confidently assert that his dismissal has not been
+owing to any want of efficiency or attention to the public service on
+his part; and, on the other hand, others who have less effectually
+served the public interest, and have been junior to your Memorialist in
+the service, have been promoted over his head. The Master of the Mint
+at one time offered to recommend your Memorialist to an appointment in
+the Mint at Hong Kong; but the climate would have been unsuitable to
+your Memorialist and his family, and he was compelled to decline it.
+
+“Your Memorialist has spent twelve of the best years of his life in the
+public service at an insignificant salary, and has effected savings to
+the public to the amount of £35,000 and upwards in the gold coinage
+alone, besides many other savings in other branches of his department,
+and has now been dismissed without, as he humbly submits, any adequate
+reason at three months’ notice (which your Memorialist is advised
+is insufficient according to the usual course of law) and without
+compensation of any kind.
+
+    “Your Memorialist therefore humbly prays your Lordships to
+      cause inquiry to be made into the circumstances stated by
+      your Memorialist, and his special services in connection
+      with the Royal Mint, and that your Lordships will be
+      pleased to continue his services in some other department
+      in which they may be made available, or to award some
+      compensation to him in consideration of the considerable
+      sums he has been the means of saving to the public during
+      the course of his employment at the Royal Mint, and of his
+      abrupt dismissal by the Master without any just cause.
+
+                                            “GEORGE F. ANSELL.
+
+       “_10th February, 1869._”
+
+On the 19th February, your Lordship enclosed to me the following
+letter:—
+
+    FROM C. RIVERS WILSON, ESQ., TO THE HON. A. KINNAIRD, M.P.
+               “_11, Downing Street, Whitehall, 15th February, 1869._
+
+    “DEAR SIR,
+
+    “The Chancellor of the Exchequer has received the Memorial
+    from Mr. Ansell, forwarded in your letter of Saturday,
+    and has caused it at once to be laid before the Board of
+    Treasury, in compliance with the wish expressed by Lord
+    Kinnaird.
+                “I am, dear Sir,
+                      “Yours faithfully,
+              (Signed)       “C. RIVERS WILSON.
+
+       “HON. ARTHUR KINNAIRD, M.P.”
+
+On the 22nd February, 1869, Mr. John Graham died, thus leaving the
+office of Chief Coiner vacant. I immediately informed your Lordship
+of this unexpected event, and you, on the 23rd, wrote to the Hon. A.
+Kinnaird, asking that gentleman to go immediately and see Mr. Lowe,
+and to take him a copy of my book of testimonials; and on the 24th
+your Lordship wrote to the Hon. A. Kinnaird, asking him to see Mr.
+Gladstone, in whose gift the office of Chief Coiner is. On the 27th
+February, 1869, a friend suggested that I should “ask Lord Kinnaird to
+mediate between Mr. Graham and myself.” Your Lordship permitted me to
+make that suggestion, and wrote as follows:—
+
+        THE RT. HON. LORD KINNAIRD, K.T.,
+            TO THOMAS GRAHAM, ESQ., F.R.S., D.C.L.
+               “_Rossie Priory, Inchture, N.B., March 1st, 1869._
+
+    “SIR,
+
+    “I do not know whether you are aware that Mr. G. F. Ansell,
+    by my advice, has presented a Memorial to the Lords of the
+    Treasury, praying for compensation for his dismissal from
+    the Mint.
+
+    “I considered the case so hard that a gentleman who had
+    served the country for about twelve years, ably and
+    efficiently, as shown by letters from the Treasury and from
+    yourself, should be dismissed on three months’ notice,
+    that I resolved to bring this case before Parliament, but
+    before doing so I thought it best that Mr. Ansell should
+    memorialise the Treasury, stating his case and past services.
+
+    “Since the Memorial was sent in, I have heard of the loss
+    you have sustained, and consequently have applied for the
+    appointment for Mr. Ansell to the office lately filled by
+    your brother.
+
+    “I think it right you should know this, and I am not
+    without hopes that my recommendation may meet with your
+    concurrence, as though I am aware that you had at one
+    time some difference with Mr. Ansell, yet he has at the
+    same time told me of many kindnesses he has received from
+    you—shown also on a late occasion, when you gave him a
+    very good testimonial on his being a candidate for a Gas
+    Inspectorship, which proves the high opinion you have of Mr.
+    Ansell’s qualifications.
+
+    “He has assured me that, should he get the appointment, he
+    will act most cordially with you, and be most anxious to
+    forget all that is past.
+
+    “I am prepared, on hearing from you that you concur in Mr.
+    Ansell’s appointment, to write to Mr. R. Lowe to tell him
+    that I wish the Memorial withdrawn.
+
+                    “Your obedient servant,
+                      (Signed)       “KINNAIRD.
+
+    “T. GRAHAM, ESQ., F.R.S., D.C.L.,
+       “Master of the Royal Mint, London.”
+
+Envelope marked “Private,”
+
+    FROM T. GRAHAM, ESQ., F.R.S., D.C.L., TO
+        THE RT. HON. LORD KINNAIRD, K.T.
+                         “_4, Gordon Square, 3rd March, 1869._
+
+    “MY LORD,
+
+     “On returning from Scotland I find your letter of the 1st
+      instant, the receipt of which I beg to acknowledge.
+
+           “I beg to remain, my Lord,
+                 “Your Lordship’s most obedient servant,
+                              (Signed)      “THO. GRAHAM.
+
+    “THE RIGHT HON. LORD KINNAIRD.”
+
+On the 6th March, 1869, your Lordship wrote me to the effect that Mr.
+Lowe had stated that he “still entertained a belief that Mr. Ansell was
+never on the staff of the Mint, and he cannot force a supernumerary on
+Mr. Graham, but he HAS SENT THE MEMORIAL TO MR. GRAHAM TO ANSWER.” I
+feel that the Right Hon. Robert Lowe thus committed a singular act of
+injustice to me. Those who will read the Memorial cannot but be struck
+with the fact that my sole complaint is against Mr. Thomas Graham,
+yet Mr. Lowe remits the case to the accused for _his_ decision. Such
+an act is a remarkable comment on the promise of the Government _that
+those who would faithfully do their duty, irrespective of their nominal
+position, should be rewarded_.
+
+This injustice induced your Lordship to take further steps, and you
+sent me the following letter:—
+
+    FROM THE RIGHT HON. W. E. GLADSTONE TO
+        HON. A. KINNAIRD, M.P.
+                                            “_March 5th, 1869._
+
+    “MY DEAR KINNAIRD,
+
+    “I am not sure whether the arrangements to be made at the
+    Mint will place any vacancy at my disposal, but if they
+    do I will carefully consider the subject of your letter
+    respecting Mr. Ansell.
+
+                “Ever yours sincerely,
+                  (Signed)      “W. E. GLADSTONE.
+
+    “THE HON. A. KINNAIRD.”
+
+On the receipt of this letter your Lordship directed me to send a copy
+of my “Treatise on Coining” to Mr. A. West for Mr. Gladstone. Up to
+this date the case had been urged upon Mr. Gladstone, not only by your
+Lordship, but in addition by five Cabinet Ministers and five members of
+the House of Commons; yet there was, as in the case of Mr. Disraeli,
+some mysterious cause why I was defeated, and on the 27th of March,
+1869, I received the following:—
+
+    FROM THE LORDS OF THE TREASURY TO G. F. ANSELL, ESQ.
+    (_No. 3727, 24th March_).
+                           “_Treasury Chambers, 27th March, 1869._
+    “SIR,
+
+    “In reply to your Memorial of the 10th of February last,
+    I am directed by the Lords Commissioners of her Majesty’s
+    Treasury to acquaint you that my Lords have made inquiry
+    into the circumstances which led to the cessation of your
+    employment as a temporary clerk at the Royal Mint, and they
+    do not find that they are such as in their opinion would
+    justify them in awarding you any compensation in consequence
+    thereof.
+
+    “I am further desired to state that your removal from the
+    service was entirely within the discretion of the Master of
+    the Mint, who distinctly denies ever having held out to you
+    any expectation of promotion or of permanent employment; and
+    that your statements as to the value of your services at the
+    Mint are not corroborated by Mr. Graham.
+
+    “In conclusion, I am desired to add, with regard to your
+    application that your services may be continued in some
+    other department, that my Lords have no appointment at their
+    disposal to which they can nominate you.
+
+                 “I am, Sir,
+                       “Your obedient servant,
+                            (Signed)       “WILLIAM LAW,”
+       “GEORGE F. ANSELL, ESQ.,
+    “27, Bernard Street, Russell Square, W.C.”           “Exᵃᵈ.
+
+Whereupon your Lordship took steps, which I will explain presently;
+but I beg first to append a few extracts from my diary, written day
+by day at a time when, had my confidence in Mr. Graham been shaken, I
+could have induced him to make a written agreement. I instead placed
+in him so profound a confidence that I placed my future, _as he knew_,
+entirely in his keeping.
+
+“_9th March, 1858._
+
+“I expressed an opinion that in the event of the Master being ill, or
+seeing fit to resign, I should be summarily dismissed the Mint, and
+that the —— and —— would come into power. I also related the grounds
+for my opinion, and the Master said that ‘the Treasury were too much
+awake to all affairs to admit of my dismissal or removal, or of such
+a change at any time under any circumstances; and that, beside, Mr.
+Sterry was now just preparing his last Report of the waste per quarter,
+and which would effectually close —— and ——’s chance.’”
+
+“_9th July, 1858._
+
+“I showed the Master, and he read Mr. Halder Wood’s letter. I sought
+his advice, and he advised me to remain at the Mint, promising that,
+so soon as Mr. Brande or Mr. Buckle died, I should be placed in their
+position, for the Treasury would not make a place for me. I wrote this
+to Mr. Wood, who soon replied, offering me a place which was next to
+himself, and advising me ‘not to trust Graham’s promises.’”
+
+“_September 2nd, 1857._
+
+“A note from Mr. F. Versmann, declining a position which I had placed
+at his disposal under these circumstances. Mr. Corcoran offered to
+introduce me to Mr. Payne, who subsequently offered to engage me on the
+following terms: I was to attend three days a week at Farnham, where
+I was to have a residence and £250 a year. The other three days I was
+at perfect liberty to use and to spend in London, in no way tied to
+Mr. Payne. I consulted Mr. Graham. He promised most faithfully that I
+should be ‘above all,’ and advised me to decline Mr. Payne’s offer. I
+did decline it, and to prove to Mr. Graham that the offer was _bona
+fide_, I handed to him Mr. Payne’s letter, with a request that he would
+recommend a fit person, and I would introduce him. Mr. Graham gave
+the letter to Mr. Versmann, who in his note says he declines because
+‘I am sorry indeed that Mr. Payne finds it necessary for the chemist
+to reside on the spot; but, after all, I am sure I am right in not
+giving up my chances in London.’ Mr. Corcoran has at this day a perfect
+recollection of the whole matter, and writes me ‘I believe you would
+have accepted, but you had a prospect of a certain position in the
+Royal Mint.’”
+
+“_October 5th, 1859._
+
+“In a conversation about my position, which had arisen from the
+opposition offered to me, the Master said, ‘Yes, that is the
+difficulty, you see the Treasury will not give you a position while we
+have so much old lumber in the way of officers who do nothing.... And
+in truth I will tell you I had hoped that the Act of last session would
+have rendered retirement at sixty-five compulsory, and then I would
+have placed you in a far higher position in the coining department; but
+that clause was unwisely withdrawn, and here I am, still encumbered
+by people utterly useless.’ I said, ‘Is it probable that I shall have
+to wait for my promotion till the death or retirement of one of my
+so-called ‘superior officers,’ or shall I now stand a chance of a more
+immediate position of safety?’ He replied with great earnestness, ‘It
+is a year since anything was done for you, so I will do something for
+you before the end of early winter, and you stand a far better chance
+now that Sir Charles Trevelyan is gone from the Treasury, for he always
+stood in your way, because his own nominations had turned out so very
+disastrously to this place; but I will promise you I will set you
+firmly directly the men return to London—directly the Ministers are in
+town.’”
+
+_22nd April, 1869._
+
+Being determined to find the reason why I failed to be appointed, you,
+as stated in your Lordship’s letter, called on Mr. Graham, at the Mint.
+Mr. Graham spoke of his desire to serve Mr. Ansell, and offered “to
+appoint him to the position from which Mr. C. W. Goodwin was to be
+retired with an increased salary.”
+
+I had in writing begged your Lordship to allow me to decline this
+offer, because I saw through the malevolent malice which induced it,
+and enclosed a statement with extracts from my diary.
+
+Four days later, it appears that your Lordship called again on Mr.
+Thomas Graham, in the Mint, where he was in consultation with Dr. Lyon
+Playfair, M.P., and Mr. C. W. Fremantle, when you, as stated in your
+letter, read and heard read Mr. Graham’s letter to the Treasury, and
+your Lordship wrote to Mr. Lowe in relation to this interview with Mr.
+Graham, and sent me Mr. Lowe’s reply.
+
+                       “_Downing Street, Whitehall, April 29th, 1869._
+
+    “DEAR LORD KINNAIRD,
+
+    “Had Mr. Graham consulted me, I should have advised him not
+    to produce any documents to you and Dr. Lyon Playfair, for
+    the simple reason that I have already decided the case, and
+    that it ought not to be opened without my consent. That
+    consent I feel myself bound to withhold. I cannot permit
+    any one in this office to act as a Court of Appeal on what
+    I have decided. I have already given to your Lordship such
+    explanations as the case seemed to require, and I have
+    nothing to add to it.
+
+                    “I am, my lord,
+                            “Faithfully yours,
+                            (Signed)      “ROBERT LOWE.
+
+      “THE RIGHT HON. LORD KINNAIRD.”
+
+    THE RIGHT HON. LORD KINNAIRD, K.T., TO
+        THE RIGHT HON. ROBERT LOWE.
+
+                  “_Rossie Priory, Inchture, N.B., May 4th, 1869._
+
+    “DEAR MR. LOWE,
+
+    “The only explanation in re Ansell which I received from
+    you, was that Mr. Ansell’s Memorial, which complained of Mr.
+    Graham’s conduct, had been remitted to that gentleman for an
+    answer, and that, after receiving it, you considered further
+    inquiry was unnecessary.
+
+    “I then asked to see the answer, and was refused, though, at
+    the same time you _assured me_ that it did not reflect
+    in the least on Mr. Ansell’s character. When I did see Mr.
+    Graham’s answer, I was struck with the animus which pervaded
+    its tone, and can hardly understand how such a difference
+    ‘between us’ can exist as to what _does_ and _does
+    not_ reflect on a man’s character. That the impression
+    conveyed to my mind by the document is the natural one,
+    is corroborated by the declaration of Dr. Lyon Playfair
+    on reading it; for he declared, ‘most strongly, that if
+    published, it would prevent Mr. Ansell obtaining, not only
+    any official, but any other employment.’ And certainly,
+    if the statements therein be true, such a result would be
+    deserved; however, the document bears on the face of it
+    so manifest a perversion of facts, and exhibits such a
+    malevolent feeling towards Mr. Ansell on the part of Mr.
+    Graham, on _whose word alone_ you have ‘decided the
+    case,’ that I am satisfied that the publication of this
+    document would rather tell in Mr. Ansell’s favour than
+    otherwise. I pointed out to you that the appointment by Mr.
+    Graham of his brother, whose unfortunate habits were well
+    known, to a position of great responsibility in the Mint,
+    and the peculations and losses which, by Mr. Graham’s own
+    admission, had taken place, demanded a special inquiry into
+    the management, and however much I might wish to screen a
+    man of Mr. Graham’s scientific acquirements, I do not feel
+    inclined to follow your advice and ‘ask Mr. Gladstone to
+    give Mr. Ansell another appointment,’ instead of exposing
+    the mismanagement of the Mint, and I cannot understand how,
+    if you believe Mr. Graham’s answer to be reliable, you could
+    recommend me to take such a course.
+
+                      “Yours faithfully,
+                         (Signed)      “KINNAIRD.
+
+      “THE RIGHT HON. ROBERT LOWE, Downing Street.”
+
+    THE RIGHT HON. LORD KINNAIRD, K.T., TO
+        THE RIGHT HON. W. E. GLADSTONE.
+                    “_Rossie Priory, Inchture, N.B., May 4th, 1869._
+
+    “DEAR MR. GLADSTONE,
+
+    “Since I saw you on the subject of Mr. Ansell’s appointment
+    to the vacant office at the Mint, I have seen Mr. Graham’s
+    answer to Mr. Ansell’s Memorial, and I earnestly hope that
+    you will not think of filling up the vacant office without a
+    full inquiry into the management of that Department, which
+    I consider is imperatively called for, and I do not think
+    that in making that appointment you would be justified in
+    being guided by the advice of the Master of the Mint, who
+    formerly appointed to that office his brother, whose drunken
+    habits were so notorious as to render him quite unfit to be
+    continued in such a charge.
+
+    “I see no reason to doubt Mr. Ansell’s statements that great
+    peculations did take place at the Mint, as well as waste
+    in coining. This is admitted by the Master himself, and
+    clearly brought out in the Memorial of Mr. Ansell, who was
+    employed for twelve years as supernumerary, and received
+    an acknowledgment more than once from the Treasury in
+    consequence of the saving he had effected. Mr. Graham, it is
+    true, denies the facts, and endeavours to blast Mr. Ansell’s
+    character, and thus to throw discredit on the evidence Mr.
+    Ansell could give.
+
+    “Mr. Graham further states in his answer that Mr. Ansell
+    was dismissed on the complaint of his brother, while the
+    letter of dismissal following immediately on Mr. Ansell’s
+    application to Mr. Disraeli to be put on the permanent staff
+    bears, that it was in consequence of the ‘coining department
+    being so partially occupied,’ though at the same time a new
+    coinage had been ordered.
+
+    “Mr. Graham’s answer bears on the face of it such a
+    perversion of facts that it appears to me an inquiry is
+    absolutely necessary, and I hope you will not oppose a
+    Motion for a Committee of Inquiry into the management of the
+    Mint, unless some other mode of inquiry is adopted.
+
+                   “Believe me,
+                          “Yours faithfully,
+                                  (Signed)       “KINNAIRD.
+
+      “THE RIGHT HON. W. E. GLADSTONE.”
+
+Your Lordship will perhaps allow me to bring to your remembrance that
+Mr. Thomas Graham died on the 16th of September, 1869, many months
+after you had made great exertions in my favour. This is the more
+necessary because some have thought that Mr. Graham was not aware of
+my charges against him, whereas he had a full knowledge of all that
+was passing, and his removal made it more difficult for me to prove
+my statements or to obtain justice. It had been, I believe, your
+Lordship’s intention to allow “my case,” as it has been called, to
+go into abeyance till, on the occasion of your motion in the House
+of Lords for a Committee to inquire into the management of the Mint,
+others gratuitously attacked me, instead of replying to your Lordship
+exact statements made on the 18th July, 1870, when you once more
+brought the subject of the Mint before the House of Lords. As that
+debate became of personal interest to myself, I beg to quote your
+Lordship’s concluding speech.
+
+
+“LORD KINNAIRD: I am quite ready, as far as Professor Graham is
+concerned, to acquit him individually and personally from anything
+improper; all I have to say with regard to Professor Graham is that
+he was not a fit person for the office, as he continued the jobbery
+which he found in existence, and which had prevailed there ever since
+the Mint was a Government office. He appointed his own brother, a
+calico printer, to an office for which he was entirely unfit, not
+only on the ground of general incompetence, but from his well-known
+habits of intemperance. I am quite ready to admit that the bulk of the
+information I possess upon the subject is obtained from Mr. Ansell,
+who was for many years employed by the Master of the Mint, and who, as
+the returns show, succeeded in making even the gold coinage a paying
+department, as it should be, instead of a losing department, as it
+is; but my statements are also founded on, and confirmed by, returns
+presented to both Houses of Parliament. Mr. Ansell also put a stop to
+peculation, and made himself very unpopular among the officials in
+consequence. Mr. Ansell gave up very valuable appointments in order to
+fulfil his duties at the Mint, under the repeated promise of promotion
+when a vacancy should occur; and I am afraid I am responsible for
+what is called his dismissal, for, when I applied to the late Prime
+Minister for his promotion, Mr. Graham, who, in common with the other
+officials, feared an exposure from Mr. Ansell’s promotion, wrote him a
+letter of dismissal as follows:—
+
+                                 ‘_Royal Mint, September 28, 1868._
+    ‘DEAR SIR,
+
+    ‘I regret to have to inform you that it is not in my power
+    to continue your present engagement as an extra officer in
+    the coining department, while the Mint is only so partially
+    occupied as it has been for some time past. Your assistance
+    will not, therefore, be required beyond the 31st of December
+    next.
+
+                 ‘I remain, faithfully yours,
+                                     ‘THO. GRAHAM.
+
+       ‘G. F. ANSELL, ESQ.’
+
+“After this dismissal the profit ceased and the loss recurred. I
+accordingly applied to the Prime Minister and the Chancellor of the
+Exchequer for an inquiry, but I was treated rather summarily, and the
+Chancellor of the Exchequer said he deprecated any inquiry. Only two
+or three months, however, after giving him that notice, and while he
+was still engaged in the Mint, Mr. Graham warmly recommended him for
+the office of Gas Inspector to the Corporation of London, stating
+that he was a well-informed practical chemist, and ‘a man of tried
+integrity’—‘a man of _tried integrity_!’ Now, within three months after
+the Master of the Mint dismissed this officer—who, as the returns will
+show, had saved the country some thousands—he writes this testimonial:—
+
+    ‘I beg to express the very favourable opinion which I
+    entertain of Mr. G. F. Ansell’s qualifications for the
+    office of Inspector of Gas to the Corporation of London. Mr.
+    Ansell is a well-informed practical chemist, and has given
+    much attention for several years to gas. He is the inventor
+    of an ingenious instrument for indicating the presence of
+    fire-damp in the atmosphere of mines, which is much admired
+    by scientific and practical men. Mr. Ansell is also a man
+    of tried integrity and great energy. From what I have seen
+    of him at the Mint I would say that he would devote himself
+    entirely and conscientiously to the work of the new office,
+    if appointed.’
+
+“THE DUKE OF ARGYLL: Who signed that letter?
+
+“LORD KINNAIRD: Thomas Graham. And, notwithstanding this high testimony
+to the value of his services, this man was dismissed because he knew
+too much of what was going on in the Mint. I challenge the Mint
+authorities to prove a single statement in his book to be false. If
+they can, why do they not contradict him? They dare not. Mr. Ansell’s
+book has been some months before the public, and if the Mint could
+have challenged his statements, which are very damaging, they would
+certainly have done so. I challenge contradiction. I am very glad the
+noble Lord has given me the opportunity of making this statement with
+regard to Mr. Graham, a talented man, but quite unable to cope with the
+clever men about him, unaided by Mr. Ansell. Now that Mr. Ansell has
+been dismissed, you see what is the result. The noble Lord has told
+your Lordships of reforms which have been made at the Mint; but I can
+assure him I expect little good to result from those reforms, for the
+very men who then had charge of these departments, and who permitted
+the peculations and mismanagement which Mr. Ansell stopped, are the
+men who are now promoted to the chief management of the operative
+departments of the Mint. I hope, therefore, the matter will not be
+allowed to drop, for I am sure there is no department in this or any
+other country more corrupt than the Mint.”
+
+    “Motion (by leave of the House) _withdrawn_.”—
+    (_House of Lords, Monday 18th July, 1870._ Hansard’s Report)
+
+    I beg to express my great obligation to your Lordship for
+    so complete a determination to obtain justice for me as
+    you have exhibited, and which has required not only labour
+    given ungrudgingly, but time, which I am sure would have
+    been of inestimable value to others. My power to thank is
+    weak, but I am entirely grateful. I am also obliged to your
+    Lordship for sending me a copy of Hansard’s Report, which
+    I, in accordance with your Lordship’s permission, print
+    elsewhere, but reserve its conclusion as a fitting finish
+    to this statement, which I submit as a true epitome of my
+    unfortunate—for myself—connection with the Royal Mint.
+
+                 I have the honour to remain,
+                            My Lord,
+          Most gratefully your Lordship’s obedient and obliged servant,
+                                                    GEORGE F. ANSELL.
+
+    THE RIGHT HON. LORD KINNAIRD, K.T., F.R.G.S.
+        Lord-Lieutenant of Perthshire, &c., &c., &c.
+
+
+
+
+INDEX.
+
+
+    Accounts of the Royal Mint, 14-15, 36, 83, 84,
+                                85, 94, 102, 103,
+                                104, 106, 107, 115,
+                                136, 142, 149, 155, 173.
+    Acts of Parliament relating to the Coinage, 3, 36, 56, 71,
+                                                72, 73, 109, 124,
+                                                150, 157, 159, 166.
+    Adjusting of Fillets, 9, 19, 20, 22,
+                          23, 25, 27, 29,
+                          31, 32, 42, 112-113.
+    Alloy, Copper is used as, 4, 6, 7, 8,
+                              13, 21, 31, 46,
+                              48, 49, 53-56, 58,
+                              82, 86, 87, 138,
+                              141, 142, 143, 157-159.
+      ” Extra, 49, 136, 137, 138, 141.
+      ” Impurities contained in, 6, 13-14, 81.
+      ” The best, for Coinage purposes, 49, 81, 157, 158.
+      ”  ”  Coining Dies, 81, 157.
+    Analysis of Bullion, Advantages attending, 13-14, 81, 157-158.
+    Annealing and Blanching, Debases Standard of Coinage, 31, 48, 49,
+                                                          50, 53-56,
+                                                          57, 58.
+         ”    Furnace, 21, 48, 49,
+                       57, 62, 74.
+         ”    Loss occasioned by, 9, 21, 22, 31,
+                              48, 49, 53-56, 57,
+                              86, 92, 138, 161,
+                              162.
+    Ansell, George F., Diary of, 194-195.
+       ”    Fire-damp Indicator, 182-183, 187, 193, 198.
+    Ansell’s Standard Gauge, 23-25, 35.
+    Antimony in Standard Gold attacks Iron, 19.
+    Argyll, Duke of, ix., 166, 171, 198.
+    Artists as regards Dies for Coining, 64, 67, 158, 168.
+    Arts, Journal of the Society of, 66.
+    Assay Pieces taken, 4, 7, 9, 10, 53-56.
+      ”     ”    Weight of, 10, 56.
+      ”   Proofs, 12, 13.
+      ”   Reports, preservation of, 14, 54, 146.
+      ”   Unreported Fractions, 127, 130, 142, 143.
+    Assayers, Two Resident, suggested, 14, 81.
+    Assaying Apparatus, Messrs Matthey, Johnson, and Co.’s, 12-13.
+       ”     Cost of, 3, 13, 120-121, 122, 149.
+       ”     Explanation of Process of, 10-14, 56.
+       ”     Loss by, 53, 56, 102, 103, 149.
+    Ayrton, Right Hon. A. S., 148, 152, 154, 165.
+
+    Balance, Cotton’s Automaton, described, 16, 37-42, 48, 124.
+       ”        ”     Bradshaw’s Improvements in, 40-42.
+       ”        ”     Pilcher’s Improvements in, 37, 39, 40, 41, 42.
+       ”     Napier’s, for Mint Office, 15, 16.
+       ”     Short’s Improved, for Bullion, described, 16-18.
+       ”     Testing the Accuracy of a, 16.
+    Bank of England, v., 3, 36, 37, 51,
+                         54, 55, 64, 65,
+                         66, 70, 71, 101,
+                         102, 103, 109, 110,
+                         122, 123, 126, 150,
+                         155, 156, 176, 185.
+      ”   ”    ”     Imports Gold for Coining
+                     and makes profit thereby, v., 3, 4, 126-127, 170.
+    Bars, by Assay below standard fineness, 49, 53-56, 168.
+     ”    Ends sheared from, 20, 92, 112, 113,
+                             116, 136, 160, 161.
+     ”    Proportion of Coined Money obtained from, 84, 92, 111, 112,
+                                                   113, 114, 115, 117,
+                                                   160, 161.
+     ”    Rolling of, 18-25.
+     ”    Used for Coining, Dimensions of, 9, 31, 74, 75.
+     ”      ”         ”     Uniformity of, desirable, 9, 31, 49, 53.
+    Barton, Sir John, 29, 31, 32.
+    Barton’s Draw-Bench, 27-33.
+    Barton, Mr. W. H., xvi., 29, 30, 56, 63, 86-87, 106, 172,
+                             175, 182, 183, 184, 191.
+    Becker, Mr. C., 25.
+    Blanching and Annealing Blanks debases Gold Coinage, 31, 48, 49,
+                                                  50, 53-56, 57, 58.
+    Blanching, Effects of, 2, 48-49, 53-56-57, 58,
+                           74, 75, 86, 92, 138, 143, 161.
+    Blanks, Annealing and Blanching, debases
+                      standard of Coinage, 31, 48, 49, 50,
+                                           51, 53-56, 57, 58.
+      ”     Drying of, by sawdust, 57-58.
+      ”     Dumb, 46, 61-62.
+      ”     Examination of, 35, 41, 42, 46, 50, 61, 70.
+      ”     Filing the heavy, 42-46.
+      ”     Weighing of Individual, 23, 31, 35-36, 37-42, 43, 108-110.
+      ”     Weighing of Gold, 37, 42-44, 46.
+    Boulton, Mr. Matthew, 61, 69, 169.
+    Boulton’s Coining Press described, 59-61, 68, 69, 80, 169.
+    Bradshaw, Mr. William, 40, 41.
+    Brande, Mr. W. T., xv., 83, 120, 172,
+                            176, 182, 195.
+    Britt.—Brit., 75-76.
+    Brittle Gold, Coining of, v., 6, 49-53, 98, 112, 176,
+                                     180, 181, 185, 190.
+        ”     ” Coins from, Distinctively Marked, 50.
+    Brockages Imperfect Coins, 68-69, 70, 92, 161.
+    Bronze Coinage, 9, 33, 64, 68, 73, 74-76, 93, 94, 118,
+                    121, 129, 147, 162-165.
+       ”     ” Loss of Profit on, 129, 147, 162-165.
+       ”     ” Weight and Value of, 163, 164, 165.
+    Bullion, Analysis of, 13-14, 81, 157-158.
+    ” necessity for Analyses of, 13-14, 81.
+    Bumping, Prevention of, 12.
+
+    Chancellor of the Exchequer,
+               as regards the Coinage, 3, 104, 120-121, 122-123-125,
+                                       126, 127, 145, 146, 150-151,
+                                       163, 164, 170, 188, 193, 196.
+    Charcoal, its use when Melting Gold and Silver, 6, 8, 138-139.
+    Chimney Chambers to _Condense_ volatilized
+            Gold and Silver, 83, 88, 103, 104-105,
+                             128, 145, 147, 162, 166-167.
+    Clipping Coins (the edges of), 59, 62, 64, 125, 141.
+    Coinage, Integrity and Accuracy of the, 14, 42-44, 53-56,
+                                  70, 71-72, 123-126, 127, 157-159.
+    Coinage, a Free, 3, 169.
+       ”     Debasement of the, 31, 48, 49, 50, 53-56, 57, 58, 120-121,
+                                122-123, 157-159.
+       ”     Debates on the, 52, 72, 105, 106, 146-148, 149.
+       ”     International, Commission on, 36, 117, 120.
+    Coined Money, Annealing of, 50, 51, 52.
+       ”     ”    Rate per cent. obtained from Bars, 20, 30, 44, 84,
+                                                     89, 92, 107-115,
+                                                    117, 140, 161,
+                                                    176, 179.
+       ”     ”    Weight and Value of Bronze, 68, 73, 162-163, 165.
+       ”     ”    Weight and Value of Gold, 3, 36, 56, 68,
+                                        70, 73, 90, 91,
+                                        92, 96, 97, 111,
+                                        112, 114, 117, 119,
+                                        121, 123, 124.
+       ”     ”    Weight and Value of Silver, 3, 56, 65, 68,
+                                          71, 73, 132, 133,
+                                         134, 135, 146, 147,
+                                         149, 150, 154, 155,
+                                         156, 161.
+    Coining, Article on, vii., 4, 71.
+       ”     by Contract, v., 127, 128.
+       ”     Cost of, 42, 43, 44, 51,
+                      70, 92, 115, 117,
+                      118-120, 121-123,
+                      130, 141, 149-150,
+                      155, 161.
+       ”     Early Methods of, 1-2.
+       ”     Gold, Gain in weight by, 86, 87, 88, 89,
+                                      90, 91, 92, 93,
+                                      94, 95, 98, 99, 100,
+                                      101-104, 145, 168,
+                                      169, 173, 175, 178,
+                                      184, 189, 190.
+       ”     Gold, Loss of Weight by, 9, 16, 21, 22,
+                                     31, 49, 51, 53,
+                                     56-57, 82-83, 84-86,
+                                     87-88, 89, 90, 91,
+                                     92, 94, 95, 98, 99-104,
+                                     117, 119-120, 122, 125,
+                                     126, 129, 145, 173, 174,
+                                     175, 176, 177-179, 180,
+                                     184-189, 190.
+       ”     Press, Description of Boulton’s, 58-61, 68,
+                                              69, 80, 169.
+       ”     Press requires improvements, 58, 61, 69-70, 169.
+       ”     Proposal to fix the rate of Cost of, 115-123.
+       ”     Royal Prerogative, 149, 150, 166.
+       ”     Silver, Gain in Weight by, iv., 3, 95, 130, 131,
+                                             146-148, 151, 160.
+       ”       ”     Loss of Weight by, v., 16, 21, 22, 74,
+                                            82, 95, 105, 106,
+                                           126, 130, 131-134,
+                                           139-140, 141, 142,
+                                           143, 145-148, 149,
+                                           151, 155, 161, 162,
+                                           175, 184, 189.
+    Coins, Amount of Legal Tender in, 68, 76, 151, 162, 166.
+      ”    Cause of Cracked, 46, 61-62.
+      ”    Diameter of, 63, 68.
+      ”    Edges of Crenated, Milled, Grained, 2, 48, 59,
+                                               61-62, 64, 80.
+      ”      ”   Lettered, 2, 62-63.
+      ”    Examination for Imperfect, 46, 62, 70.
+      ”    Imperfect, Brockages, 68, 69, 70, 92, 161.
+      ”    Incused, how produced, 69.
+      ”    Pounding of, 35, 49, 53, 71-72, 73, 125, 167.
+      ”    Protecting Edge is necessary to, 2, 46, 48, 62,
+                                           64, 67, 158, 159.
+      ”    Ringing of, 46, 62, 70.
+      ”    Sweating of, 59, 125, 141.
+      ”    Weighing of, after Coining, 39, 43, 45,
+                                       70, 108-110.
+      ”    Weight of Current and New, 36, 39, 66, 68,
+                                      70, 71, 72, 73,
+                                      123, 124, 167.
+    Collar for Coining Milled, Lettered, 48, 59, 60, 61-62,
+                                         63, 64, 67-68.
+    Comber, Mr. P. F., 74.
+    Copper Moneys, 68, 76, 157, 162, 164.
+    Copper on Gold, Influence of Oxide of, 6, 49.
+    ” is used as an Alloy, 4, 6, 7-8, 21, 46,
+                           48, 49, 138.
+    Corcoran, Mr. Bryan, 195.
+    Corry, Mr. Montagu, 186.
+    Cotton, Mr. William, 16, 37, 39,
+                         41, 42, 124.
+    Cotton’s Automaton Balance, 16, 37-42, 48, 124.
+    Crenated or Milled Edge on Coined Money, 2, 48, 59,
+                                             61-62, 64, 80.
+    Cutting-out Press described, 2, 33-35, 169.
+
+    Dies for Coining, 1, 50, 57, 59, 60,
+                     64, 68, 76-81, 157,
+                     158, 167.
+    Differences in Weighing Bullion, 14-16, 89, 92, 104,
+                                     127, 137, 138, 143,
+                                     160-161, 176, 184.
+    Difficulties in introducing Improvements, 9, 15, 40,
+                                             44, 46, 51.
+    Disraeli, Right Hon. B., 183-186-187, 191.
+    Draw-bench, Description of the, 27-33.
+        ”       Opposition to use of, 29-30, 31-32.
+        ”       Proper mode of using, 32-33.
+
+    Edge-Compressor, 46-48.
+    Edge, Protecting, to Coins, necessity for, 2, 46, 48, 62,
+                                              64, 67, 158, 159.
+    Edinburgh, H.R.H. the Duke of, 183.
+    Ends sheared from Bars, 20, 92, 112, 113,
+                            116, 136, 160, 161.
+    Engravings, Initial Letters to Illustrate, 5.
+    European Mints, Reports upon, 9, 30, 34, 42, 44,
+                                 55, 61, 74, 83, 99-100,
+                                105, 106, 125, 147,
+                                148, 168.
+    Evelyn, John, 62.
+    Exchequer, Chancellor of the,
+              as regards the Coinage, 3, 104, 120-121, 122-125,
+                                    126, 127, 145, 146, 150-151,
+                                    163, 164, 170, 188, 193, 196.
+
+    Fairbairn, Mr. W., xvi., 172.
+    Fenton, Mr. William, 33.
+    File, Pilcher’s, for reducing Heavy Blanks, 42-46, 176, 179, 180.
+    Fillets, Adjusting of, 9, 19, 20, 22,
+                          23, 25, 27, 29,
+                          31, 32, 42, 112-113.
+       ”    of uniform thickness, 25, 30-31.
+    Fillets, Dumb, 46, 61-62, 89, 92, 112, 116.
+       ”    Flatted, 25, 26, 27.
+       ”    Rate per cent. of, obtained from Bars, 20, 92, 108,
+                                              112-113, 116, 160-161.
+       ”    Testing accuracy of, 22, 23-24.
+    Fire-damp Indicator, 182, 183, 187, 193, 198.
+    Flat end, explanation of term, 27.
+    Flatting Mill described, 25, 26.
+    Forbes, Mr. George, 64, 155.
+    Fourpenny-pieces, Coinage of, required, 10.
+    Fremantle, Mr. C. W., iii., iv., v., vii., 9, 14, 15, 30, 31,
+                                              55, 56, 59, 72, 91,
+                                              97, 99, 100, 102, 106,
+                                             118, 125, 127, 128, 129,
+                                             133, 135, 144, 147, 152,
+                                             153, 154, 155, 164-165,
+                                             168, 187, 191, 195.
+    French War Indemnity, Weight of the, 71.
+    Furnace, Annealing, 21, 48, 49, 57, 62, 74.
+
+    Gauges used in Coining, 22, 23-25, 35.
+    Gauging Mill, Description of, 22-24, 26-27, 30-31.
+    Gausby, Mr. Robert, 93.
+    Gibson, Mr. E. S., 37, 62.
+    Gladstone, Right Hon. W. E., iii., viii., 76, 101, 115,
+                                             187, 188, 192, 194.
+    Goodwin, Mr. C. W., iii., 195.
+    Gold, Annealing of, 22, 31, 48, 49, 50, 53-56, 57-58, 74.
+      ”   Assay of Standard, described, 10-14, 53-56, 81, 122.
+      ”   Brittle, Coining of, 6, 49-53, 98, 105, 112,
+                              176, 180, 181, 185, 190.
+      ”   Coin, when worn, invariably below standard, 48, 49,
+                                                      53-56, 168.
+      ”   Coinage, Statement showing details of, 89, 92.
+      ”   Coining, Authority for, 3, 158, 166.
+      ”   Coins, Weight and Value of Worn and Light, 53-56, 66, 67.
+      ”   Copper is used to alloy, 4, 6, 7-8, 21,
+                                  46, 48-49, 53-56.
+      ”   Gain by Coining, 86, 87, 88-89, 90-91,
+                           92, 93, 94, 95, 98,
+                           99, 100, 101-104, 145,
+                          168, 169, 173, 175, 178,
+                          184, 189, 190.
+      ”   Loss by Annealing, 21, 22, 31, 48,
+                             49, 53-56, 57,
+                             86, 92.
+      ”    ”   Coining, 9, 16, 21, 22,
+                       31, 49, 51, 53,
+                       56-57, 82-83, 84-86,
+                       87-88, 89, 90, 91,
+                       92, 94, 95, 98, 99-104,
+                      117, 119-120, 122, 125,
+                      126, 129, 145, 173, 174,
+                      175, 176, 177-179, 180,
+                      184-189, 190.
+      ”    ”   Melting, 86, 87, 96, 97,
+                        98, 99-104, 105,
+                       106, 145, 178, 184,
+                       190.
+      ”   Melting of, described, 5-7, 46, 53, 56,
+                                 129, 144.
+      ”   Price of Standard, 3, 55, 66, 67,
+                            70, 73, 84, 120,
+                            122, 130.
+      ”   Refining of, 14, 49, 50, 52,
+                       53, 81-82, 104, 108.
+    Gold Standard, 3, 4, 36, 53-66,
+                  70, 73, 84, 120.
+      ”     ”     affected by Antimony, 14, 19, 49, 50,
+                                        51, 176, 180,
+                                       181, 185, 190.
+      ”     ”     affected by Arsenic, 14, 49, 50, 51,
+                                      176, 180, 181, 185, 190.
+      ”     ”     affected by Lead, 6, 14, 49, 51, 81.
+      ”     ”        ”     Mercury, 14, 81.
+      ”     ”        ”     Osmium-Iridium, 81.
+      ”     ”        ”     Oxide of Copper, 6, 49.
+      ”     ”        ”     Palladium, 81.
+      ”     ”        ”     Platinum, 81.
+      ”     ”        ”     Tin, 14, 81.
+      ”     ”        ”     Zinc, 6, 14.
+      ”   Sweep recovered after Coinage of, 82, 83, 86,
+                                            88, 90, 91, 93,
+                                            98, 106-107.
+      ”     ”       ”     Melting of, 96, 97, 98, 106-107.
+      ”   Weight and Value of Coined, 56, 84, 90, 91,
+                                      92, 96, 97, 106,
+                                     111, 114, 121, 167,
+                                     178, 190.
+      ”   and Silver Refining of, 81-82, 104, 138, 160.
+      ”   while at the Mint bears no interest, 126.
+    Graham, Mr. John, 15, 44, 71, 94,
+                      98, 108, 112, 163,
+                      182, 185, 187, 191,
+                      196, 197.
+      ”     ”   Thomas, iii., iv., vii., viii.,
+                         ix., xi., xv., xvi.,
+                         50, 51, 54, 71,
+                         83, 93, 118, 119,
+                        144, 153, 154, 155,
+                        164-165, 170, 172,
+                        174, 180, 182, 183,
+                        187, 193, 194, 195,
+                        196, 197, 198.
+    Graphite Pots for Melting, 5, 129.
+    Granville, Right Hon. Earl, 166.
+
+    Hatchett, Experiments of, 49, 157.
+    Hatchett, Mr. C., 49, 157.
+    Hawkins, Mr. Edward, 62.
+    Herschel, Sir J. F. W., 54, 167.
+    Hofmann, Dr. A. W., xv., xvi., 172, 189.
+    Holland, Mr. P. H., 183.
+    Hubbard, Mr. J. G., 55, 121.
+    Hunt, Mr. Robert, 182, 183.
+
+    Imperfect Coins, Brockages, 68, 69, 70, 92, 161.
+    Importation of Ingots for Coining, 3, 4, 127, 170.
+    Improvements, Difficulties attending introduction of, 9, 15, 40,
+                                                         44, 46, 51.
+    Indemnity, Weight of the French War, 71.
+    Indenture, Weight and Fineness of each Coin
+                   was fixed by Mint, 36, 71, 108, 166.
+    Indicator, Fire-damp, 182, 183, 187, 193, 198.
+    Ingots, “Potting” of, 4.
+    Integrity and Accuracy of the Coinage, 14, 42-44, 53-56,
+                                           70, 71-72, 123-125,
+                                          127, 157-159, 166-167.
+    International Coinage, Report of Commissioners on, 36, 119, 120.
+    Italy, Bronze Coinage of, 64.
+
+    Jones, Mr. Meredith, 47, 179, 180.
+    Journey, Weight a, 36, 70.
+
+    Keys of Strongholds, 173.
+    Kinnaird, Right Hon. Lord, iii.-v., vii., ix., xiii.,
+                               51, 52, 54, 56, 91, 97,
+                              100, 101, 102, 105, 106,
+                              108, 126, 133, 135, 145-147,
+                              148, 149, 151, 152, 153,
+                              163, 164, 171, 183, 186,
+                              188, 192-199.
+         ”    Hon. A., M.P., 192, 194.
+
+    Lansdowne, Marquess of, iv., ix., 52, 99,
+                            100, 104, 105, 106,
+                            146, 147-148, 149,
+                            152, 171.
+    Legal Tender, Amount of Coins in, 68, 76, 151, 162, 166.
+    Loss by Annealing, 9, 21, 22, 31,
+                      48, 49, 53-56, 86,
+                      92, 138, 161, 162.
+      ”  by Coining Bronze, 129, 147, 162-165.
+      ”        ”    Gold, 9, 16, 21, 22, 31, 49, 51, 53, 56-57, 82, 83,
+                          84, 86, 87-88, 90, 91, 92, 94, 95, 98, 99-104,
+                          117, 119, 120, 122, 125, 126, 129, 145, 173,
+                          174, 175, 176, 177-179, 180, 184-189, 190.
+     ”         ”    Silver, v., 16, 21, 22, 74, 82, 95, 105, 106, 126,
+                     130, 131-133, 139-140, 141, 142, 143, 145-148, 149.
+      ”  by Melting Gold, 86-87, 96, 97, 98, 99-104, 105, 106,
+                          145, 178, 184, 190.
+      ”  by Melting Silver, 131, 134-135, 136-142, 143, 144, 184, 189.
+      ”  of Profit on Silver Coinage, v., 129, 130, 146, 147,
+                                      148-151-156.
+    Lowe, Right Hon. Robert, iii., v., ix., 104, 120, 127, 150, 151,
+                             164, 166, 171, 188, 192, 193, 196.
+    Lowndes, Mr. W., 2, 159.
+    Lowry, Mr. J. W., 37.
+
+    Marking Machine, Jones’s, 46-48.
+    Martin, Mr. John, 30.
+    Mathison, Mr. Gilbert F., 99.
+    Melting Gold, Loss by, 53, 86, 87, 96, 97, 98, 99-104,
+                           105, 106, 145, 178, 184, 190.
+    Melting Gold, Process of, described, 5-7, 46, 53, 56, 129, 144.
+    Melting Silver, Process of, described, 7-9, 46, 129, 138-145.
+    Melting Silver, Gain by, 134-135, 136, 137, 142, 143.
+      ”        ”    Loss by, 131, 134-135, 136-142, 143, 144, 184, 189.
+      ”      Value of Sweep recovered from Gold, 96, 97, 98, 106-107.
+      ”      Value of Sweep recovered from Silver, 106, 107, 131, 134,
+                                                   135, 138, 139, 140,
+                                                   144.
+    Metals, Annealing of, _see_ Annealing.
+    Miller, Mr. John, 66.
+      ”    ”    Wm., 64, 65, 67, 155, 156.
+    Mint Indenture formerly fixed Weight and
+                   Fineness of Coins, 36, 71, 108, 166.
+    Mint Notes, Issue of, for Bullion, 170.
+    Mint premises, building of New, v., 127, 128.
+    Money, Hammered and Milled, 1, 2, 159.
+    Moneyers, The Company of, 82, 87, 99, 112.
+    Monteagle, Lord, 166.
+    Murray, Mr. John, 31.
+
+    Napier, Mr. James M., 15, 16, 34, 37,
+                          40, 42, 44, 59,
+                          61, 74, 108, 147,
+                         148, 169.
+
+    Oakes, Mr., 182.
+    Oil on Scissel, 29, 32, 33, 35,
+                    86, 87, 98, 99,
+                    131, 136, 139,
+                    140, 174, 175, 176.
+      ”  to Lubricate Fillets, 32, 33, 176.
+    Orders, “Circulating,” 94.
+    Office, System of Promotion to, v., viii., 15, 52,
+                                    56, 94, 108, 115, 128,
+                                   153, 169, 171, 173, 175,
+                                   176, 177, 182.
+
+    Parliament, Acts of, relating to the Coinage, 3, 36, 56, 71,
+                                                 72, 73, 109, 124,
+                                                150, 157, 159, 166.
+    Palmerston, Lord, xv., 140, 171.
+    Pepys, Samuel, Diary of, 158, 159.
+    Percy, Dr., 6, 52.
+    Pilcher, Mr. Richard, 37, 39, 42, 44,
+                          47, 177, 179, 180.
+    Pilcher’s File, 42-46, 176, 179, 180.
+    Playfair, Dr. Lyon, iii., iv., 195, 196.
+    Pounding of Coins, its use and abuse, 35, 49, 53, 71-72,
+                                          73, 125, 167.
+    Proclamations relating to the Coinage, 68, 76.
+    Promotion to Office, System of, v., viii., 15, 52,
+                                    56, 94, 108, 115,
+                                   128, 153, 169, 171,
+                                   173, 175, 176, 177, 182.
+    Pyx Pieces, Weight of, 56, 92, 112, 113, 114, 161.
+      ”  Suggestions as to the Trial of the, 53-54, 56.
+      ”  The Trial of the, 49, 56, 70, 123-124, 166-167.
+
+    Queen, Her Majesty the, 166, 168, 183.
+
+    Rejected Blanks, 30, 32, 35, 42-44,
+                     46, 92, 107-110, 161,
+                     170, 179, 184, 189.
+    Rejected Coins, 42-44, 46, 107-110.
+       ”     explanation of term, 44.
+    Remedy allowed, 32, 39, 43, 108.
+      ”    explanation of term, 39, 167.
+      ”    practically used, 32, 71-72, 108-110, 112.
+    Rennie, Mr. G., xvi., 172.
+    Reports on Mint, 14, 118-119, 127, 147.
+    Roberts, Mr. W. C., v., 52, 53, 55,
+                        56, 57, 74, 99, 100,
+                       105, 129, 144, 147,
+                       153, 154.
+    Rolling Mill, 18-20, 22-23, 26-27, 30-31.
+    Rolling Mills, Accuracy to be obtained by, 23, 25, 27, 30-31.
+    Rollers, Steel, 26, 27, 30, 31.
+    Rossie, Lord, _see_ Kinnaird, Lord.
+    Ryan, Sir Edward, 166.
+
+    Scissel, Meaning of the word, 2, 35.
+       ”     Melting of, 8, 136-137.
+       ”     Oil upon, 29, 32, 33, 35,
+                       86, 87, 98, 99,
+                      131, 139, 140, 174,
+                      175, 176.
+    Seyd, Mr. Ernest, 54-55, 130.
+    Shears, Description of, 19, 20, 21,
+                            25, 30, 31.
+    Short, Mr. S. R., 16.
+    Silver copper used to alloy, 7-8, 46, 49.
+    Silver, Annealing of, 2, 31, 72-74, 143,
+                        161, 162.
+      ”    as an Alloy for Gold, 13, 53, 81.
+      ”    Assaying of Standard, 13.
+      ”    Authority for Coining, 3, 166, 167.
+      ”    Coinage, Loss of Profit or Seigniorage on, v., 129-130, 146,
+                                                     147, 148-151-156.
+      ”         ”    Profit or Seigniorage derived from, iv., 3,
+                                               146-148, 151, 152,
+                                           153, 154-156, 157-159.
+      ”         ”    Tabular Statement showing details of, 159, 160,
+                                                           161, 162.
+      ”         ”    Weight and Value of, 65, 132-135, 146,
+                                         149, 150, 151, 152,
+                                         154, 156, 160,
+                                         161, 167.
+      ”      Coining of, 7, 67, 72, 74,
+                       116, 118, 121, 129,
+                       143, 159-161.
+      ”      Coins, Weight and Value of Worn and Light, 64-65, 66, 67,
+                                               130, 146, 152, 155, 156.
+      ”      Gain by Coining, 95, 130, 131, 160.
+      ”         ”    Melting, 134-135, 136, 137.
+      ”      Loss by Annealing, 31, 72-74, 143, 161, 162.
+      ”         ”    Coining, v., 16, 21, 22, 74,
+                             82, 95, 105, 106, 126,
+                            130, 131-133, 139-140,
+                             141, 142, 143, 145-148, 149.
+      ”         ”    Melting, 131, 134-135, 136-142,
+                              143, 144, 184, 189.
+      ”      Melting of, 7-9, 46, 129, 138-145.
+      ”      Standard, 3, 8, 73, 129, 130, 142, 157.
+      ”      Sweep recovered from Coinage, 82, 83, 86, 106-107,
+                                          131, 132, 133, 144.
+      ”      Sweep recovered from Melting, 106-107, 131, 134, 135,
+                                           138, 139, 140, 144.
+    Simon, Thomas, Petition Crown of, 62-64.
+    Smith, Colonel J. T., 140-141, 142-143.
+      ”    Dr. Angus R., 183.
+      ”    Mr. Richard, 6.
+    Soap for Lubricating Fillets, 32, 33.
+    Sovereign, Legal and Current Weight of, 39, 66, 68, 70,
+                                            73, 120, 122-123, 124.
+        ”      Sweating of, 59, 125, 141.
+    Steel Rollers, 26-27, 30-31.
+      ”   Used for Dies, 76-81, 157-158.
+    Sterry, Mr. Charles, 194.
+    Strongholds, the Keys of the, 173.
+    Supply, or Scrap Bullion, 86, 98, 161, 162.
+    Sweep, explanation of term, 86, 106, 140.
+      ”    recovered from Gold Coinage, 52, 82, 83, 86,
+                                        88, 90, 91, 93,
+                                        98, 106-107.
+      ”        ”      ”   Silver Coinage, 82, 83, 86, 106-107,
+                                         131, 132, 133, 144.
+      ”        ”      ”   Gold Melting, 96, 97, 98, 106-107.
+      ”        ”      ”   Silver Melting, 106, 107, 131, 134,
+                                          135, 138, 139, 140, 144.
+
+    _Times_ newspaper, Letters in the, 37, 52, 54-55, 72.
+    Tomlino, Colonel, 169.
+    Tomlinson’s Cyclopædia, article on coining, viii., 4, 71.
+    Trevelyan, Sir Charles, 195.
+    Trier, Duties of the, 26, 31, 33, 35-36.
+
+    Value of Gain, _see_ Gold, Silver, Gain by Coining.
+      ”   Loss sustained, 31, 65, 67, 83,
+                          84, 86, 89-91, 96-97,
+                          98-99-100, 101, 102,
+                          104, 105, 125, 128,
+                          129, 131-135, 137, 143,
+                          144, 145-149, 150, 151,
+                          153, 154, 155-156, 161,
+                          163, 164, 165, 174, 178,
+                          179, 190.
+      ”   Money Coined in each Coinage, _see_ Coined Money.
+      ”   Standard Gold, _see_ Gold, price of Standard.
+      ”   Sweep recovered, _see_ Sweep recovered.
+    Versmann, Mr. F., 195.
+    Volatilization of Gold and Silver in
+                      Coinage operations, 83, 88, 103, 104-105,
+                                         128, 145, 147, 162.
+
+    Wages System, Suggested new one, 115-119, 121-123.
+      ”      ”    under which paid for Coining, 46, 115-119.
+      ”      ”    under which paid for Melting, 46, 116-117.
+    Warington, Mr. Robert, 81.
+    Waste, _see_ Coining, Loss by.
+    Weighing Bullion, Differences made in, 14-16, 89, 92,
+                                             104, 127, 137,
+                                             138, 143, 160-161,
+                                             176, 184.
+        ”       ”     System of, 14-16, 136, 137, 138.
+        ”     Machines, Cotton’s Automaton, 16, 37-42, 48, 124.
+        ”        ”         ”     Bradshaw’s Improvements in, 40-42.
+        ”        ”         ”   Pilcher’s Improvements in, 37, 39-40, 42.
+        ”        ”       Napier’s, for Mint Office, 15, 16.
+        ”        ”       Short’s, for Bullion, 16-18.
+    Wellington, Duke of, 54.
+    Westbury, Lord, 166, 167.
+    Wilson, Mr. C. Rivers, 14, 127, 147.
+    Wood, Mr. Halder, 195.
+    Worn Coins below Standard by Assay, 48-49, 53-56, 57.
+      ”    ”   Weight and Value of Gold, 53-56, 66, 67.
+      ”    ”      ”         ”      Silver, 64-65, 66, 67,
+                                   130, 146, 152, 155-156.
+    Worn-out Melting-Pots, 139, 140.
+
+    Zinc causes difficulty in Coining Bronze, 75.
+      ”    ”       ”        ” Gold, 6, 14.
+
+“THE ROYAL MINT.”—THIRD EDITION
+
+
+OPINIONS OF THE PRESS.
+
+Especially worthy of official attention, and is accompanied by
+suggestions for an amended system.—_Times._
+
+According to Mr. Ansell, who is every way entitled to credit, great
+loss has frequently arisen through the promotion of incompetent men
+who cannot handle properly the fine instruments employed.... The whole
+subject is of special interest at the present time, and Mr. Ansell’s
+contribution to the facts of the discussion will be frequently appealed
+to.—_Economist._
+
+From an extensive knowledge of the practical working of the Royal Mint,
+Mr. Ansell has given the educated world a very clear and comprehensive
+account of the operations of that institution, and has endeavoured to
+show—and, we are convinced, has succeeded in showing—the nature of the
+defects through which it has for a long period proved no inconsiderable
+burden to the country. The writer was elected to his post through his
+known scientific and technical attainments; and the work now before
+us is worthy of his reputation.... The practical aim of the book is
+to prove that the Royal Mint should no longer be a burden to the
+country, and that the losses now entailed could, by a better system of
+management and supervision, be reduced practically to _nil_.—_Money
+Market Review._
+
+Mr. Ansell enters fully into the very interesting details of the
+various processes involved in coining for the Bank; from the reception
+of the ingots to their conversion into the circulating medium of the
+realm. The text is much assisted by numerous well-executed woodcuts and
+steel engravings, which serve to explain the internal economy of the
+Mint, and the various pieces of elaborate machinery required to produce
+the enormous quantity of money which must be kept in use in a country
+having the extended commercial interests of England.... Mr. Ansell’s
+book is extremely opportune, and deserves careful perusal.—_Examiner
+and London Review._
+
+The author of this book is, unquestionably, thoroughly versed in the
+metallurgical, chemical, and mechanical details of the subjects treated
+therein.—_Morning Advertiser._
+
+Mr. Ansell having been employed in the Mint, is well qualified to speak
+on the subject of which he treats. At this juncture, when discussions
+with regard to that establishment and the coinage are before the
+Legislature, the book will be well worthy of the perusal of those
+taking part in the controversy.—_Standard._
+
+An interesting work relating to the operations of that
+establishment.—_Daily News._
+
+Those interested in the subject may investigate the alleged
+shortcomings of the administration by its light, and ascertain if the
+Bill of Mr. Lowe will effect any of the needed reforms, and to what
+extent. The contents of the book are of an important character, and
+merit careful consideration.—_Bullionist._
+
+Mr. Ansell has at command a thoroughly practical, official, and
+scientific knowledge of his subject; and from the position which he
+occupied, is entitled to speak with authority. His opinions, therefore,
+on the economical bearings of the coinage discussion, both social and
+political, are of real interest.... The chief value of the work is that
+we are here shown, by one who for a long time held responsible office,
+what he considers to be the faults of the existing system.... Now that
+the Mastership of the Mint has become vacant, and the question is
+before the country how it shall be filled, the interest of the book,
+great in itself, is enhanced.—_Financier._
+
+We wish to direct attention to a very valuable work entitled “The Royal
+Mint,” by Mr. G. F. Ansell. The whole question of coinage is under
+the consideration of the Chancellor of the Exchequer, who is expected
+to make several changes in the organisation and management of the
+Mint, therefore Mr. Ansell’s work will no doubt be carefully perused
+by Members of the House of Commons, as it throws much light on every
+branch of working up the gold and silver into coins.—_London Mercantile
+Journal._
+
+This work will be read with much interest as public attention has
+so recently been drawn to the management of the Mint. The author
+writes from his own personal experience, having been engaged as
+an authoritative member of the staff under the late master, Mr.
+Thomas Graham. The author asserts that each of his statements is the
+result of his actual experience, and capable of proof. The work is
+amply illustrated with some very fine engravings, which are fully
+explained in the text. Mr. Ansell’s suggestions for the better
+scientific and official management of the Mint should command serious
+attention.—_Public Opinion._
+
+This is a most important work, and it has been published
+opportunely.... We cannot even indicate the many points of importance
+to which Mr. Ansell draws our attention, but while giving the work
+general commendation, we heartily advise its perusal by all who are in
+any way interested in the subject.—_Civil Service Gazette._
+
+The present position of affairs at the Royal Mint, and the interesting
+service which has been rendered by Lord Kinnaird in the discussion
+in the House of Lords on the Coinage Bill, cannot fail to secure for
+Mr. Ansell’s skilfully prepared book more than an ordinary amount
+of attention.... The management of the Mint is a matter of national
+importance, and the practical experience and thorough knowledge of
+mechanics possessed by Mr. Ansell have enabled him to produce a
+comprehensive and valuable book of reference.—_Dundee Advertiser._
+
+We receive with much satisfaction so lucid an account of the working
+of the Mint, and the highly important suggestions for its better
+management, as set forth in Mr. G. F. Ansell’s excellent treatise....
+The book now under notice, which is dedicated to Lord Kinnaird, will
+tend very much to enlighten all who may take an interest in this very
+important subject.—_Court Journal._
+
+Mr. Ansell frequently pauses to point out how, according to the
+conclusions formed from his personal observations and mechanical
+knowledge, the processes of manufacture might be simplified or
+cheapened. He insists that if the mechanical improvements suggested by
+him were followed out “the result would be a clear saving of £4,000 a
+year.”—_Echo._
+
+No one needs any longer to complain of want of information as to
+the manner in which the coinage of the country is prepared, or what
+are the duties of those who are entrusted with the important duty
+of supervising its mintage. In a comparatively small compass this
+book tells all that can be said on these heads, besides giving other
+details, the purpose of which is as practical as the manner of
+description is precise and positive.—_Bell’s Weekly Messenger._
+
+In addition to the information to be found in the book regarding the
+coining of money, those interested in mechanical details will doubtless
+read with pleasure the minute description of the whole of the machinery
+in use in the Mint. The book has done and will do good service.—_South
+London Press._
+
+Mr. Ansell’s book is cleverly written, and will probably lead to
+enquiry.—_City Press._
+
+This is in many respects a remarkable work, for it displays both
+scientific and technical knowledge on the subject of the coinage to
+an extent that at the present time can scarcely be surpassed.... The
+book is full of interest, for the facts are carefully marshalled, and
+the illustrations with which the volume is enriched are apposite and
+excellent. We can, therefore, unhesitatingly recommend the work to such
+of our readers as take an interest in such subjects.—_Scotsman._
+
+We will close with two quotations from this really valuable book,
+containing, as it does, so much that is interesting, and showing so
+intimate an acquaintance on the author’s part with the subject of which
+it treats.—_Edinburgh Evening Courant._
+
+It is clear, however, that the evils proverbially connected with money
+are in full force at the Royal Mint: anxiety weighs down the higher
+authorities, heart-burnings prevail amongst the lower, irregularities
+exist amongst the subordinates. It is probable that some change has
+taken place in the management of matters since the author was in the
+position of an eye-witness; but the general value of his work is not
+likely to have been much diminished thereby.—_Illustrated London News._
+
+LONDON: EFFINGHAM WILSON, ROYAL EXCHANGE.
+
+PRINTED BY VIRTUE AND CO., CITY ROAD, LONDON.
+
+
+*** END OF THE PROJECT GUTENBERG EBOOK 78741 ***