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| author | www-data <www-data@mail.pglaf.org> | 2026-05-24 10:44:33 -0700 |
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| committer | www-data <www-data@mail.pglaf.org> | 2026-05-24 10:44:33 -0700 |
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padding-right: 1em;} +.tdr_wsp {text-align: right; vertical-align: middle; padding-right: 0.5em;} + +.pagenum { position: absolute; + left: 92%; + font-size: smaller; + text-align: right; + font-style: normal; + font-weight: normal; + font-variant: normal; +} + +.blockquot { margin-left: 12%; margin-right: 12%; } + +.bb {border-bottom: solid thin;} +.bb2 {border-bottom: solid medium;} +.bt {border-top: solid thin;} +.br {border-right: solid thin;} +.bl {border-left: solid thin;} +.bbox {border: solid medium;} + +.no-wrap {white-space: nowrap; } +.center {text-align: center; text-indent: 0em;} +.smcap {font-variant: small-caps;} +.allsmcap {font-variant: small-caps; text-transform: lowercase;} + +img { max-width: 100%; height: auto; } + +.figcenter { margin: auto; text-align: center; + page-break-inside: avoid; max-width: 100%; } + +.footnotes {border: 1px dashed;} +.footnote {margin-left: 10%; margin-right: 10%; font-size: 0.9em;} +.footnote .label {position: absolute; right: 84%; text-align: right;} +.fnanchor { + vertical-align: super; + font-size: .8em; + text-decoration: + none; +} + +.transnote {background-color: #E6E6FA; + color: black; + font-size:smaller; + padding:0.5em; + margin-bottom:5em; + font-family:sans-serif, serif; } + +.ws2 {display: inline; margin-left: 0em; padding-left: 2em;} +.ws3 {display: inline; margin-left: 0em; padding-left: 3em;} +.ws4 {display: inline; margin-left: 0em; padding-left: 4em;} +.ws5 {display: inline; margin-left: 0em; padding-left: 5em;} +.ws6 {display: inline; margin-left: 0em; padding-left: 6em;} +.ws8 {display: inline; margin-left: 0em; padding-left: 8em;} +.ws9 {display: inline; margin-left: 0em; padding-left: 9em;} +.ws10 {display: inline; margin-left: 0em; padding-left: 10em;} + </style> + </head> + +<body> +<div style='text-align:center'>*** START OF THE PROJECT GUTENBERG EBOOK 78741 ***</div> + + +<hr class="chap x-ebookmaker-drop"> +<h1>THE ROYAL MINT:</h1> + +<p class="f120"><i><b>Its Working, Conduct, and Operations,<br> +Fully and Practically Explained;</b></i></p> + +<p class="f80">WITH<br>SUGGESTIONS FOR ITS BETTER SCIENTIFIC<br> AND OFFICIAL MANAGEMENT.<br> +RE-WRITTEN, ENLARGED, AND REVISED TO THE<br> PRESENT TIME. TO WHICH IS ADDED,<br> AS AN APPENDIX,</p> + +<p class="f80">A LETTER ADDRESSED TO THE RIGHT HON. LORD KINNAIRD, K.T.</p> + +<p class="f120 spa2"><span class="smcap">By</span> GEORGE FREDERICK ANSELL,</p> + +<p class="f80">ANALYTICAL CHEMIST.<br>LATE OF THE ROYAL MINT,<br> +FORMERLY OF THE ROYAL COLLEGE OF CHEMISTRY.</p> + +<p class="center spa2 spb2"><i>ILLUSTRATED WITH ENGRAVINGS.</i></p> + +<p class="f90 no-wrap">“To have a thing is little if you’re not allowed to show it;<br> +And to know a thing is nothing unless others know you know it.”</p> + +<p class="author"><span class="smcap">Lord Neaves.</span></p> + +<p class="center">THIRD EDITION.</p> + +<div class="figcenter"> + <img src="images/logo.jpg" alt="" width="200" height="129" > +</div> + +<p class="center">LONDON:<br>EFFINGHAM WILSON, ROYAL EXCHANGE.<br>1871.</p> +<p class="center"><i>Entered at Stationers’ Hall.</i>]<span class="ws4"> </span> +[<i>All rights reserved.</i> +<span class="pagenum" id="Page_iii">[Pg iii]</span></p> + +<hr class="chap x-ebookmaker-drop"> + +<div class="chapter"> +<p class="author">Ipswich, <i>March 1st, 1871</i>.</p> +<p class="no-indent"><span class="smcap">Dear Mr. Ansell</span>,</p> +</div> + +<p>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 <i>somewhat difficult</i>.</p> + +<p>The answer is evidently dictated by Mr. Lowe. After his letter⁠<a id="FNanchor_1_1" href="#Footnote_1_1" class="fnanchor">[1]</a> +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 <i>itself</i> would +have been the best refutation of the <i>insinuation</i> it contained +that you were dismissed because you were guilty of the Mint practice +of purloining gold (whereas the note⁠<a id="FNanchor_2_2" href="#Footnote_2_2" class="fnanchor">[2]</a> +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<a id="FNanchor_3_3" href="#Footnote_3_3" class="fnanchor">[3]</a> +which I read to the House of Lords.</p> + +<p>The report, however, <i>had served its purpose</i> in preventing you +from being appointed to an office in the Mint.</p> + +<p>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, +<span class="pagenum" id="Page_iv">[Pg iv]</span> +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.</p> + +<p>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,⁠<a id="FNanchor_4_4" href="#Footnote_4_4" class="fnanchor">[4]</a> +to a responsible office in the Mint.</p> + +<p>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.</p> + +<p>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 <i>insinuated</i> 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;”⁠<a id="FNanchor_5_5" href="#Footnote_5_5" class="fnanchor">[5]</a> +but again was he grossly misled by the Mint officials +when he stated “that there was a gain of £5,000 per annum on +<span class="pagenum" id="Page_v">[Pg v]</span> +the silver coinage”⁠<a id="FNanchor_6_6" href="#Footnote_6_6" class="fnanchor">[6]</a> +(a considerable reduction on the former statement) while the +<i>return</i> showed a positive and very great loss. It would appear +that the Mint officials mystify him, and that <i>he</i>, not <i>I</i>, +confuse two things.</p> + +<p>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 <i>very +eminent chemist</i> who had proved his capability by “<i>devising</i> 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 +<i>did not devise</i> 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 <i>Philosophical Magazine</i> for 1850.</p> + +<p>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 <i>very careful study of +your book</i>!!! 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 +<span class="allsmcap">TO COIN BY CONTRACT</span>—this might be tried, +at all events for a time, before the new offices are commenced.</p> + +<p>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 <i>too dry</i> 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.</p> + +<p class="author">Believe me,<span class="ws10"> </span><br> +Dear Mr. Ansell,<span class="ws6"> </span><br> +Yours faithfully,<span class="ws3"> </span><br> +(Signed)<span class="ws3">KINNAIRD.</span></p> + +<p>To G. F. Ansell, Esq.,<br>27, Bernard Street, Russell Square, London, W.C.</p> + +<p><span class="pagenum"><a id="Page_vi">[Pg vi]</a></span></p> +<hr class="chap x-ebookmaker-drop"> +<div class="chapter"> + +<p><span class="pagenum"><a id="Page_vii">[Pg vii]</a></span></p> + +<h2 class="nobreak">PREFACE TO THIRD EDITION.</h2> +</div> + +<p>Influential friends have advised me to issue the present as the +<i>third</i> 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.</p> + +<p>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 +<i>second</i> 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 (<a href="#Page_198">see page 198</a>); 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 +<a href="#Page_91">91</a>, <a href="#Page_97">97</a>, <a href="#Page_102">102</a>, +<a href="#Page_133">133</a>, <a href="#Page_135">135</a>, <a href="#Page_197">197-8</a>). +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 +<span class="pagenum" id="Page_viii">[Pg viii]</span> +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.</p> + +<p>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.</p> + +<p>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 <i>their</i> hands by such public servant in vain!”</p> + +<p>The effect of a rule which obliges Ministers to support the “head +of a Department” “<i>under any and all circumstances</i>,” 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.</p> + +<p>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. +<span class="pagenum" id="Page_ix">[Pg ix]</span></p> + +<p>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.</p> + +<p>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.”</p> + +<p>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. +<span class="pagenum" id="Page_x">[Pg x]</span></p> + +<p>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. +<span class="pagenum" id="Page_xi">[Pg xi]</span></p> + +<hr class="chap x-ebookmaker-drop"> +<p class="center">PREFATORY LETTER TO THE FIRST EDITION.</p> + +<p class="center">TO</p> +<p class="f120">THOMAS GRAHAM, ESQ., F.R.S.,</p> +<p class="center">MASTER OF THE MINT, ETC. ETC.</p> + +<p><span class="smcap">Sir</span>,</p> + +<p>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.</p> + +<p>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,</p> + +<p class="author">I beg to remain, Sir,<span class="ws9"> </span><br> +Your most faithful servant,<span class="ws3"> </span><br>GEO. F. ANSELL. +<span class="pagenum"><a id="Page_xii">[Pg xii]</a></span></p> + +<p><span class="smcap">Royal Mint</span>, <i>August, 1862</i>. +<span class="pagenum"><a id="Page_xiii">[Pg xiii]</a></span></p> + +<hr class="chap x-ebookmaker-drop"> + +<div class="chapter"> +<p class="center">PREFATORY LETTER TO THE SECOND EDITION.</p> + +<p class="author">27, Bernard Street, Russell Square, London, W.C.,<br> +<i>November 8th, 1869</i>.<span class="ws5"> </span></p> +</div> + +<p class="no-indent"><span class="smcap">My Lord</span>,</p> + +<p>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.</p> + +<p>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.</p> + +<p>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.</p> + +<p>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.</p> + +<p class="author">I have the honour to be,<span class="ws8"> </span><br> +My Lord,<span class="ws10"> </span><br> +Your Lordship’s most faithfully obliged and humble servant,<span class="ws2"> </span><br> +GEORGE F. ANSELL.</p> + +<p>To the Right Hon. Lord Kinnaird, K.T., F.R.G.S.,<br> +<span class="ws3">Lord-Lieutenant of Perthshire, &c. &c. &c.</span></p> + +<p><span class="pagenum"><a id="Page_xiv">[Pg xiv]</a></span></p> +<hr class="chap x-ebookmaker-drop"> + +<div class="chapter"> +<p><span class="pagenum"><a id="Page_xv">[Pg xv]</a></span></p> +<h2 class="nobreak">PREFACE TO SECOND EDITION.</h2> +</div> + +<p>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.</p> + +<p>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 +<span class="pagenum" id="Page_xvi">[Pg xvi]</span> +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:—</p> + +<p>“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.”</p> + +<p>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.</p> + +<p>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.</p> + +<hr class="chap x-ebookmaker-drop"> +<div class="chapter"> +<p><span class="pagenum" id="Page_1">[Pg 1]</span></p> +<h2 class="nobreak">THE ROYAL MINT.</h2> +</div> + +<p>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 <i>hammered</i> +money, in contradistinction to <i>milled</i> 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 +<span class="pagenum" id="Page_2">[Pg 2]</span> +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 <i>milled money</i>, 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 <i>cutters</i>, 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 <i>mill</i> (wrought +of the strength of men), and there receives the impression, which makes +it perfect <i>milled</i> money.”</p> + +<p>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. +<span class="pagenum" id="Page_3">[Pg 3]</span></p> + +<p>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<a id="FNanchor_7_7" href="#Footnote_7_7" class="fnanchor">[7]</a> +obtain the right to send gold to the Mint to be coined on the following terms:—</p> + +<p class="blockquot fs_90">“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.”</p> + +<p>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.⁠<a id="FNanchor_8_8" href="#Footnote_8_8" class="fnanchor">[8]</a></p> + +<p>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<i>s.</i> 9<i>d.</i> 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<a id="FNanchor_9_9" href="#Footnote_9_9" class="fnanchor">[9]</a> +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 +<span class="pagenum" id="Page_4">[Pg 4]</span> +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.</p> + +<p>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 <i>potting</i> the ingots. Ingots are almost invariably melted, +and cast into bars for sovereigns.</p> + +<p>I must here mention that the various illustrations I have introduced +were originally used for the article “<span class="smcap">Coining</span>” in +<span class="smcap">Tomlinson’s</span> “<span class="smcap">Cyclopædia</span>,” +and the permission to use them here has been generously granted to me +by <i>Messrs. Virtue and Co.</i>, whose property they are. +<span class="pagenum" id="Page_5">[Pg 5]</span></p> + +<p>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.</p> + +<div class="figcenter"> + <img id="FIG_1" src="images/fig_1.jpg" alt="" width="600" height="366" > + <p class="f120 spb2">Fig. 1.—Gold Melting.</p> +</div> + +<p><a href="#FIG_1">Fig. 1</a> 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 +<i>plumbago pot</i>; it is 9¼ inches deep, and 7 inches across at the +top inside. The pot, previously annealed, is placed in the furnace on +a <i>bottom</i> 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 +<span class="pagenum" id="Page_6">[Pg 6]</span> +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.⁠<a id="FNanchor_10_10" href="#Footnote_10_10" class="fnanchor">[10]</a></p> + +<p>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 <b>T</b>, 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 +<span class="pagenum" id="Page_7">[Pg 7]</span> +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.</p> + +<div class="figcenter"> + <img id="FIG_2" src="images/fig_2.jpg" alt="" width="600" height="418" > + <p class="f120 spb2">Fig. 2.—Silver Melting.</p> +</div> + +<p>As silver melting,⁠<a id="FNanchor_11_11" href="#Footnote_11_11" class="fnanchor">[11]</a> +when discreetly conducted, is slightly different in some of its +details, it will be well to describe it here. In <a href="#FIG_2">Fig. 2</a>, +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 <i>bottom</i> 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 +<span class="pagenum" id="Page_8">[Pg 8]</span> +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.⁠<a id="FNanchor_12_12" href="#Footnote_12_12" class="fnanchor">[12]</a> + 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 <i>scissel</i>⁠<a id="FNanchor_13_13" href="#Footnote_13_13" class="fnanchor">[13]</a> +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 <i>torn</i> 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 +<span class="fs_120"><b>T</b></span> +pieces, in the same manner as the moulds for gold, and are secured in +<span class="pagenum" id="Page_9">[Pg 9]</span> +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.</p> + +<p>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.</p> + +<p>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:—</p> + +<p class="blockquot fs_90">“... 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.”</p> + +<p>There is really no “<i>difficulty</i> in producing sound castings +if the thickness should be reduced;” but I fear there are many +<span class="allsmcap">DIFFICULTIES</span> 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 <i>these, insuperable +difficulties</i> were urged until I experimentally demonstrated how +easily they could be cast.</p> + +<p class="f120"><span class="smcap">Statement of Particulars as regards<br> +Bars used for Coining.</span></p> + +<table class="spb1 spa2"> + <thead><tr class="bt bb"> + <th class="tdc bl">Metal.</th> + <th class="tdc bl"> Denomination of <br>intended coin.</th> + <th class="tdc bl"> Length. </th> + <th class="tdc bl"> Breadth. </th> + <th class="tdc bl"> Thickness. </th> + <th class="tdc bl br"> Average <br>Weight.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl">Inches.</td> + <td class="tdc bl">Inches.</td> + <td class="tdc bl">Inches.</td> + <td class="tdc bl br">Troy oz.</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="2">Gold</td> + <td class="tdl_wsp bl">Sovereign</td> + <td class="tdc bl">24</td> + <td class="tdc bl">1·375</td> + <td class="tdc bl">1·000</td> + <td class="tdc bl br">320</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Half-Sovereign</td> + <td class="tdc bl">24</td> + <td class="tdc bl">1·125</td> + <td class="tdc bl">1·000</td> + <td class="tdc bl br">250</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="7">Silver</td> + <td class="tdl_wsp bl">Crown</td> + <td class="tdc bl">22</td> + <td class="tdc bl">2·750</td> + <td class="tdc bl">1·000</td> + <td class="tdc bl br">300</td> + </tr><tr> + <td class="tdl_wsp bl">Half-Crown</td> + <td class="tdc bl">22</td> + <td class="tdc bl">2·500</td> + <td class="tdc bl">1·000</td> + <td class="tdc bl br">240</td> + </tr><tr> + <td class="tdl_wsp bl">Florin</td> + <td class="tdc bl">21</td> + <td class="tdc bl">2·125</td> + <td class="tdc bl">1·000</td> + <td class="tdc bl br">220</td> + </tr><tr> + <td class="tdl_wsp bl">Shilling</td> + <td class="tdc bl">21</td> + <td class="tdc bl">1·437</td> + <td class="tdc bl">1·000</td> + <td class="tdc bl br">150</td> + </tr><tr> + <td class="tdl_wsp bl">Sixpence</td> + <td class="tdc bl">21</td> + <td class="tdc bl">1·125</td> + <td class="tdc bl">1·000</td> + <td class="tdc bl br">120</td> + </tr><tr> + <td class="tdl_wsp bl">Fourpence</td> + <td class="tdc bl">21</td> + <td class="tdc bl">0·875</td> + <td class="tdc bl">1·000</td> + <td class="tdc bl br"> 96</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"></td> + <td class="tdc bl">21</td> + <td class="tdc bl">0·875</td> + <td class="tdc bl">1·000</td> + <td class="tdc bl br"> 96</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="3">Bronze </td> + <td class="tdl_wsp bl">Penny</td> + <td class="tdc bl">24</td> + <td class="tdc bl">2·500</td> + <td class="tdc bl">0·375</td> + <td class="tdc bl br">100</td> + </tr><tr> + <td class="tdl_wsp bl">Halfpenny</td> + <td class="tdc bl">24</td> + <td class="tdc bl">3·000</td> + <td class="tdc bl">0·375</td> + <td class="tdc bl br">117</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Farthing</td> + <td class="tdc bl">24</td> + <td class="tdc bl">3·000</td> + <td class="tdc bl">0·375</td> + <td class="tdc bl br">117</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_10">[Pg 10]</span> +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.”</p> + +<p>The assay pieces,⁠<a id="FNanchor_14_14" href="#Footnote_14_14" class="fnanchor">[14]</a> +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 <i>thousand</i>, 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<a id="FNanchor_15_15" href="#Footnote_15_15" class="fnanchor">[15]</a> +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 +<span class="pagenum" id="Page_11">[Pg 11]</span> +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 <i>fine</i>, 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.</p> + +<p>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 +<i>cornet</i>. This spongy state is a consequence of the addition of +<span class="pagenum" id="Page_12">[Pg 12]</span> +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 <i>bumping</i>; 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 <i>thousand</i>—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.</p> + +<p>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 <i>proof</i>. 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.</p> + +<p>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 +<span class="pagenum" id="Page_13">[Pg 13]</span> +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.</p> + +<p>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.</p> + +<p>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.</p> + +<p>It is almost needless to add that the system of <i>proofs</i> above +described must be also used with this process.</p> + +<p>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.</p> + +<p>It will have been observed that the event of the process of assaying +is to exhibit the proportion of <i>bullion</i> 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 +<span class="pagenum" id="Page_14">[Pg 14]</span> +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.</p> + +<p>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,⁠<a id="FNanchor_16_16" href="#Footnote_16_16" class="fnanchor">[16]</a> +to remove all those substances which are <i>now</i> 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.</p> + +<p>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.</p> + +<p>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 <i>any</i> 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, +<span class="pagenum" id="Page_15">[Pg 15]</span> +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:—</p> + +<p class="blockquot fs_90">“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.”</p> + +<p>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—</p> + +<p class="blockquot fs_90">“The final decision is not to be called in +question by any other officer of the coining department.”</p> + +<p>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:—</p> + +<div class="blockquot fs_90"> +<p>“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.</p> + +<p class="author">(Signed) “J. G.”</p> +</div> + +<p><span class="pagenum" id="Page_16">[Pg 16]</span> +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.”</p> + +<p>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.</p> + +<p>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.</p> + +<p>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.</p> + +<p>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.</p> + +<div class="figcenter"> + <img src="images/i_016.jpg" alt="" width="600" height="360" > + <p class="f120">IMPROVED BALANCE (TO WEIGH 2000 OUNCES.)</p> + <p class="center spb2">BY Mʳ. S. R. SHORT, JUNʳ.</p> +</div> + +<p><span class="pagenum" id="Page_17">[Pg 17]</span> +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 <i>c</i>, 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 <i>c</i> 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 <i>c</i>, +with screws travelling through them, and intended to fix <i>c</i> +rigidly in a given position. At the same instant that U comes into rest +upon <i>c</i>, 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 <i>b</i>. The frame R +passes through friction rollers of brass at <i>d</i>, 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 +<span class="pagenum" id="Page_18">[Pg 18]</span> +minute may be arranged by <i>f</i>; while the box <i>e</i> 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 <i>a</i>. 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 <a href="#FIG_3">Fig. 3</a>, 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 <b>V</b>, 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.</p> + +<div class="figcenter"> + <img id="FIG_3" src="images/fig_3.jpg" alt="" width="600" height="247" > + <p class="f120">Fig 3.—Short’s Plan for Levelling a Beam.</p> +</div> +<p><span class="pagenum" id="Page_19">[Pg 19]</span></p> + +<div class="figcenter"> + <img id="FIG_4" src="images/fig_4.jpg" alt="" width="600" height="252" > + <p class="f120 spb2">Fig. 4.—Breaking-down Mill.</p> +</div> + +<p>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 +<i>batch</i>, and each bar in the batch undergoes precisely the same +process. The bar is passed into the opening A of the breaking-down +mill <a href="#FIG_4">Fig. 4</a>, 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 +<span class="pagenum" id="Page_20">[Pg 20]</span> +<i>remedy</i>⁠<a id="FNanchor_17_17" href="#Footnote_17_17" class="fnanchor">[17]</a> +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.</p> + +<p>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 <i>spring-pinch</i> means the passing the bar once more through the +mill without altering the distance between the rollers.</p> + +<table class="spb1"> + <thead><tr> + <th class="tdc" colspan="2" rowspan="2">A sovereign bar passed<br>through the rolling mill—</th> + <th class="tdc" colspan="2">Becomes a fillet or ribbon—</th> + </tr><tr> + <th class="tdc">Inches wide.</th> + <th class="tdc">Inches thick.</th> + </tr></thead> + <tbody><tr> + <td class="tdc">At</td> + <td class="tdl_wsp">45·00</td> + <td class="tdc">1·450</td> + <td class="tdc">0·775</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">35·00</td> + <td class="tdc">1·540</td> + <td class="tdc">0·610</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">26·00</td> + <td class="tdc">1·610</td> + <td class="tdc">0·460</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">19·00</td> + <td class="tdc">1·665</td> + <td class="tdc">0·335</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">14·00</td> + <td class="tdc">1·696</td> + <td class="tdc">0·250</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">10·50</td> + <td class="tdc">1·712</td> + <td class="tdc">0·194</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp"> 8·50</td> + <td class="tdc">1·765</td> + <td class="tdc">0·148</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp"> 7·00</td> + <td class="tdc">1·778</td> + <td class="tdc">0·129</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp"> 1st spring-pinch.</td> + <td class="tdc">1·778</td> + <td class="tdc">0·127</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp"> 2nd  ”  ”</td> + <td class="tdc">1·778</td> + <td class="tdc">0·120</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp"> 3rd  ”  ”</td> + <td class="tdc">1·779</td> + <td class="tdc">0·118</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp"> 4th  ”  ”</td> + <td class="tdc">1·781</td> + <td class="tdc">0·117</td> + </tr> + </tbody> +</table> + +<p>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<a id="FNanchor_18_18" href="#Footnote_18_18" class="fnanchor">[18]</a> +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, +<span class="pagenum" id="Page_21">[Pg 21]</span> +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.</p> + +<div class="figcenter"> + <img id="FIG_5" src="images/fig_5.jpg" alt="" width="600" height="420" > + <p class="f120 spb2">Fig. 5.—Annealing Furnace.</p> +</div> + +<p>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 <a href="#FIG_5">Fig. 5</a>. +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 +<span class="pagenum" id="Page_22">[Pg 22]</span> +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 <i>fillets</i>, 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 <i>spring-pinch</i> 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 <a href="#FIG_6">Fig. 6</a> +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.</p> + +<div class="figcenter"> + <img id="FIG_6" src="images/fig_6.jpg" alt="" width="600" height="106" > + <p class="f120 spb2">Fig. 6.—Small Gauge.</p> +</div> + +<p><span class="pagenum" id="Page_23">[Pg 23]</span></p> + +<div class="figcenter"> + <img id="FIG_7" src="images/fig_7.jpg" alt="" width="600" height="342" > + <p class="f120 spb2">Fig. 7.—Gauging Mill.</p> + <img id="FIG_8" src="images/fig_8.jpg" alt="" width="600" height="235" > + <p class="f120 spb2">Fig. 8.—Ansell’s Standard Gauge.</p> +</div> + +<p>The gauging mill is of different construction from the other mills, as +may be seen by reference to <a href="#FIG_7">Fig. 7</a>, 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 <i>c</i>, 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 +<a href="#FIG_7">at J, Fig. 7</a>, 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. <a href="#FIG_7">O, Fig. 7</a>, is the gauge actually +used by the workman; <a href="#FIG_6">Fig. 6</a> 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 +<span class="pagenum" id="Page_24">[Pg 24]</span> +at any point, as to width and thickness. This gauge will be more +intelligible by reference to <a href="#FIG_8">Fig. 8</a>. 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 <i>b</i> with steel shoulders, and are then +continued, as represented, to <i>a</i>. If it be desired to measure the +thickness of a fillet, the points <i>a a</i> and <i>b b</i> are caused +to open by pressure applied to B, and the fillet is placed between +the points <i>a</i>, 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 <i>a</i> 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 <i>b</i>; 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 <i>b</i> and +between the points <i>a</i>. 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 +<span class="pagenum" id="Page_25">[Pg 25]</span> +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.</p> + +<div class="figcenter"> + <img id="FIG_9" src="images/fig_9.jpg" alt="" width="350" height="400" > + <p class="f120 spb2">Fig. 9.—Small Shears.</p> + <img id="FIG_10" src="images/fig_10.jpg" alt="" width="400" height="404" > + <p class="f120 spb2">Fig. 10.—Flatting Mill.</p> +</div> + +<p>The fillets are weighed from the rolling room to the drag room, where +they are finally adjusted; for with every energy, discretion, and +skill, <span class="allsmcap">FILLETS CANNOT BE OBTAINED OF UNIFORM THICKNESS +BY SIMPLE ROLLING</span>. In the drag room the fillets are taken to the small +shears, <a href="#FIG_9">Fig. 9</a>, 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 <a href="#FIG_10">Fig. 10</a>, which +<span class="pagenum" id="Page_26">[Pg 26]</span> +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 <i>flatted</i>, 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 <a href="#FIG_7">Fig. 7</a>, 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 +<span class="pagenum" id="Page_27">[Pg 27]</span> +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.⁠<a id="FNanchor_19_19" href="#Footnote_19_19" class="fnanchor">[19]</a> +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.</p> + +<div class="figcenter"> + <img id="FIG_11" src="images/fig_11.jpg" alt="" width="600" height="175" > + <p class="f120 spb2">Fig. 11.—Draw-bench.</p> + <img id="FIG_12" src="images/fig_12.jpg" alt="" width="400" height="441" > + <p class="f120 spb2">Fig. 12.—Head of Draw-bench.</p> +</div> + +<p><a href="#FIG_11">Fig. 11</a> represents the <i>draw-bench</i>, the name of +which is retained, as being in fact its only appropriate one. The <i>flatted</i> +end of each fillet is passed into the opening shown at A. The +<i>dog</i> 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 <i>draw</i> 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 <a href="#FIG_12">strap and drums V. Fig. 12</a> is a representation +<span class="pagenum" id="Page_28">[Pg 28]</span> +of the head of the draw-bench, and in studying this engraving it will +be well to refer at the same time to <a href="#FIG_11">Fig. 11</a>. 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 <a href="#FIG_12">shown by A in Fig. 12</a>. 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.⁠<a id="FNanchor_20_20" href="#Footnote_20_20" class="fnanchor">[20]</a> +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 +<span class="pagenum" id="Page_29">[Pg 29]</span> +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, <i>c c</i>, 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 <i>c c</i> 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 <i>c c</i>. 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 +<span class="pagenum" id="Page_30">[Pg 30]</span> +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.</p> + +<p>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.”</p> + +<div class="blockquot"> +<p class="author">“<i>7th June, 1861.</i></p> + +<p>“<span class="smcap">Dear Sir</span>,</p> + +<p class="big_indent">“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.</p> + +<p class="author">“Yours truly,<span class="ws4"> </span><br> +“<span class="smcap">Tho. Graham</span>.</p> + +<p>“G. F. Ansell, Esquire.”</p> +</div> + +<p>It is satisfactory to me to find that Mr. Fremantle confirms the +opinion at which I had arrived. He says (“European Mints,” <a href="#Page_9"> +page 9</a>):—“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 +<span class="pagenum" id="Page_31">[Pg 31]</span> +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 +(<a href="#Page_28">see B, page 28</a>) 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.</p> + +<p>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 <a href="#FIG_11">Fig. 11</a>, +and are then sent to the trier, who by means of a hand-press similar +to, but more delicate than, that shown at <a href="#FIG_7">Fig. 7</a>, 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.⁠<a id="FNanchor_21_21" href="#Footnote_21_21" class="fnanchor">[21]</a> +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<i>s.</i> 7½<i>d.</i> 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.</p> + +<p>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 +<span class="pagenum" id="Page_32">[Pg 32]</span> +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 <i>all the rejected</i> should be on one side of +the remedy.⁠<a id="FNanchor_22_22" href="#Footnote_22_22" class="fnanchor">[22]</a> +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 +<span class="pagenum" id="Page_33">[Pg 33]</span> +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.</p> + +<p>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.⁠<a id="FNanchor_23_23" href="#Footnote_23_23" class="fnanchor">[23]</a> +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. <a href="#FIG_13">Fig. 13</a> +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 +<span class="pagenum" id="Page_34">[Pg 34]</span> +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 +<span class="pagenum" id="Page_35">[Pg 35]</span> +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.</p> + +<div class="figcenter"> + <img id="FIG_13" src="images/fig_13.jpg" alt="" width="500" height="472" > + <p class="f120 spb2">Fig. 13.—Cutting-out Press.</p> +</div> + +<p>The fillets from which the blanks have been punched have the +appearance of ribbons perforated with round holes, and are now called +<i>scissel</i> (from the Latin <i>scindo</i>, 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 <span class="allsmcap">POUNDING</span>, and is, next to the +<i>trying</i>, the most important of his duties; if such an expression +can be admitted, he has, by <i>trying</i>, fired his shot, and here +determines if he has hit the bull’s-eye, all depending on his own +unaided judgment. The gauge, <a href="#FIG_8">Fig. 8</a>, 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 +<span class="pagenum" id="Page_36">[Pg 36]</span> +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.</p> + +<p>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 <i>journeys</i> of +about 180 ounces each. The term <i>journey</i> 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.</p> + +<p>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<i>s.</i> 6<i>d.</i>).” 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 <i>journey</i>; 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<i>s.</i> 7½<i>d.</i> on each +delivery to the Bank.</p> + +<div class="figcenter"> + <img id="I_036" src="images/i_036.jpg" alt="" width="600" height="376" > + <p class="f120">COTTON’S PATENT AUTOMATON BALANCE.</p> + <p class="center spb2">WITH PILCHER’S IMPROVEMENTS.</p> +</div> + +<p><span class="pagenum" id="Page_37">[Pg 37]</span> +The bags of blanks should⁠<a id="FNanchor_24_24" href="#Footnote_24_24" class="fnanchor">[24]</a> +be carried forward to the room in which the weighing of the individual +blanks is effected by Mr. Cotton’s <a href="#I_036">automaton weighing machines</a>. +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.</p> + +<p>After reading the letter of Mr. James M. Napier in the <i>Times</i> 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.</p> + +<p>The steel engraving exhibits a view of <a href="#I_036"><span class="smcap">Cotton’s</span> +automaton machine</a> 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.</p> + +<p>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 +<span class="pagenum" id="Page_38">[Pg 38]</span> +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 +<i>h</i>, 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 <i>n</i>, 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 <i>n</i>, and by it compresses an attached +spring. The forceps are intended to hold <i>this</i> 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 <i>o</i>; its lower extremity working into a socket on +the table on which the whole frame of the machine stands.</p> + +<p>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 +<span class="pagenum" id="Page_39">[Pg 39]</span> +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;⁠<a id="FNanchor_25_25" href="#Footnote_25_25" class="fnanchor">[25]</a> +the variation or latitude allowed is called <i>remedy</i>, from the +Latin <i>ad remediam</i>; 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<a id="FNanchor_26_26" href="#Footnote_26_26" class="fnanchor">[26]</a> +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 <i>q</i> (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 <i>heavy</i> 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 <i>light</i> 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 <i>m</i> (the precise length of the rod being regulated by +the screw <i>j</i>), until its finger <i>a</i> rests upon the indicator +<i>b</i>. The depth to which <i>a</i> shall fall is fixed by the step +<i>l</i> (shown by Q in the second enlarged portion of the steel +<span class="pagenum" id="Page_40">[Pg 40]</span> +engraving). This is, of course, determined by the forceps, securing Q +at the position indicated by the weight of the blank. The indicating +finger <i>b</i> having come to rest, the continued motion of the +machine causes the cam <i>c</i> to permit the shoot <i>d</i> to fall +until one of its steps <i>e</i> 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 <i>k</i>, 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 <i>q</i>. +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 +<i>q</i>, 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 <i>f</i>, while the blanks +are directed into the collar J by the guard <i>g</i>, as they slide +down the hopper <i>h</i>, which at its centre is supported by an +upright, <i>i</i>. The blocks <i>p</i> are the supports which hold all +the machinery to the roof of the machine.</p> + +<p>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 <i>all</i> the machines.</p> + +<p>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 +<span class="pagenum" id="Page_41">[Pg 41]</span> +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 <i>e</i>, 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 <i>o</i>, so he placed a +spring of brass between the top of its loop and the cam N, and secured +at one end to <i>p</i>, 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.</p> + +<p>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 <i>h</i>, +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 <i>magnificent</i> 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 +<span class="pagenum" id="Page_42">[Pg 42]</span> +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.</p> + +<p>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.</p> + +<p>Those blanks which are neither too light nor too heavy are called +<i>medium</i>, and are weighed and put into bags for future issue +as coins. The <i>light</i> are reserved for the melting-pot. The +<i>heavy</i> 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 <i>ploughed</i> out from the face of a blank, leaves a hole +which is not filled up in coining.”</p> + +<p>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:—</p> + +<div class="blockquot fs_90"> +<p>“<i>Treatment of Too-heavy Blanks.</i>—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. +<span class="pagenum" id="Page_43">[Pg 43]</span></p> + +<p>“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?</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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 <span class="allsmcap">ALONG WITH</span> +<span class="allsmcap">ECONOMY</span>, the wisdom of Parliament +would have enacted accordingly.</p> + +<p>“The first outlay for self-acting coin blank equalising machinery +<span class="allsmcap">WOULD NECESSARILY BE LARGE</span>, but it is +believed at the same time that the saving would be considerable, +especially upon gold.</p> + +<p>“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 +<span class="allsmcap">STILL TO BE MADE TO ACQUIRE</span> +<span class="allsmcap">A KNOWLEDGE OF ITS USE</span>, and to ascertain, after +a <i>lengthened</i> probation, whether any modifications in the details +are advisable: the limited experiments already made leave no doubt, +however, of the successful result.</p> + +<p>“The arguments in favour of an <i>exact coinage</i> 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 <span class="allsmcap">CONSISTENT WITH ECONOMY</span>, +and that an <i>exact coinage</i> would be found more economical +as a circulating medium, would be more just, and a better +<span class="pagenum" id="Page_44">[Pg 44]</span> +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.”</p> +</div> + +<p>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:—</p> + +<p class="blockquot fs_90">“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.”</p> + +<p>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 <i>equally effective</i>. 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 +<i>publicly rewarded, although in a most inadequate manner</i>, should +be used.</p> + +<p>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 <i>his improvements</i> +might be rendered permanent, thus causing an expense of 50 per cent. on +the total cost of manufacture for <i>rejected coins</i>,⁠<a id="FNanchor_27_27" href="#Footnote_27_27" class="fnanchor">[27]</a> +because the use of the file having been abolished, the coined money +<span class="pagenum" id="Page_45">[Pg 45]</span> +alone was weighed, thus rendering it impossible to reduce the heavy pieces.</p> + +<div class="figcenter"> + <img id="FIG_14" src="images/fig_14.jpg" alt="" width="500" height="414" > + <p class="f120 spb2">Fig. 14.—Pilcher’s Filing Machine.</p> +</div> + +<p>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<a id="FNanchor_28_28" href="#Footnote_28_28" class="fnanchor">[28]</a> +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:—<a href="#FIG_14">Fig. 14</a> 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 <span class="allsmcap">EDGES</span> 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 +<span class="allsmcap">MUCH OR LITTLE</span> 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 +<i>separation of the dust</i> 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. +<span class="pagenum" id="Page_46">[Pg 46]</span></p> + +<p>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 <i>all</i> the blanks were +afterwards reduced to a uniform diameter by the edges being compressed +<i>before</i> being coined.</p> + +<p>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.</p> + +<p>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. (<a href="#Page_92">see page +92</a>). 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.</p> + +<div class="figcenter"> + <img id="FIG_15" src="images/fig_15.jpg" alt="" width="400" height="493" > + <p class="f120 spb2">Fig. 15.—Jones’s Edge-Compressor.</p> +</div> + +<p>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 <i>marking machine</i>, but +such a name being obviously improper, it is preferred to call it the +<span class="allsmcap">EDGE-COMPRESSOR</span>. 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 +<span class="pagenum" id="Page_47">[Pg 47]</span> +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. <a href="#FIG_15">Fig. 15</a> 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 +<span class="pagenum" id="Page_48">[Pg 48]</span> +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 <i>crenating</i> +to be given by the collar in the after process of conversion into a coin.</p> + +<p>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 +<span class="pagenum" id="Page_49">[Pg 49]</span> +is struck. This process is called <i>blanching</i>, 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,⁠<a id="FNanchor_29_29" href="#Footnote_29_29" class="fnanchor">[29]</a> +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.</p> + +<p>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.</p> + +<p>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.⁠<a id="FNanchor_30_30" href="#Footnote_30_30" class="fnanchor">[30]</a> +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 +<span class="pagenum" id="Page_50">[Pg 50]</span> +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.⁠<a id="FNanchor_31_31" href="#Footnote_31_31" class="fnanchor">[31]</a> +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.</p> + +<p>“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.</p> + +<p>“This improvement in the practice of the coining department is the +<span class="pagenum" id="Page_51">[Pg 51]</span> +result of a laborious investigation made in the coining department, of +which I am happy to assign the chief merit to Mr. Ansell.</p> + +<p>“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.”⁠<a id="FNanchor_32_32" href="#Footnote_32_32" class="fnanchor">[32]</a></p> + +<p>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.</p> + +<p>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, +<span class="pagenum" id="Page_52">[Pg 52]</span> +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 +<i>Times</i>:—</p> + +<div class="blockquot fs_90"> +<p class="center">“THE COINAGE BILL DEBATE.<br> +“<i>To the Editor of the Times.</i></p> + +<p>“<span class="smcap">Sir</span>,—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.’</p> + +<p class="author">“Your obedient servant,  <br> +“<span class="smcap">Kinnaird</span>.</p> + +<p>“50, Avenue Road, Regent’s Park,<br> “March 23rd.”</p> +</div> + +<p>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.</p> + +<p>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.</p> + +<p>This <i>new</i> process consists in forcing chlorine gas through melted +<span class="pagenum" id="Page_53">[Pg 53]</span> +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.</p> + +<p>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;⁠<a id="FNanchor_33_33" href="#Footnote_33_33" class="fnanchor">[33]</a> +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,⁠<a id="FNanchor_34_34" href="#Footnote_34_34" class="fnanchor">[34]</a> +brought to standard before they are coined, and those coins assayed +<span class="allsmcap">WHILE NEW</span> 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<a id="FNanchor_35_35" href="#Footnote_35_35" class="fnanchor">[35]</a> +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 +<span class="pagenum" id="Page_54">[Pg 54]</span> +should be a <i>sine quâ non</i>. 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.</p> + +<p>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 <i>for</i> 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.</p> + +<p>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.</p> + +<p>“Monetarius,” who wrote to the <i>Times</i> from Malvern—where, +singularly, Mr. Thomas Graham was then residing—and Sir John Herschel, +quoted in their letters to the <i>Times</i> 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 <i>Times</i> of the +21st August, 1869:— +<span class="pagenum" id="Page_55">[Pg 55]</span></p> + +<p class="blockquot fs_90">“... 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<i>d.</i> to 4<i>d.</i> per sovereign); the bullion +now remaining is the metal of which the coin had been made, presumably +at the rate of 77<i>s.</i> 10½<i>d.</i> per ounce, and worth that much, +or, at the Bank rate for buying gold, at least 77<i>s.</i> 9<i>d.</i> +per ounce. Yet the Bank of England will not give more than 77<i>s.</i> +6½<i>d.</i> for it. Worth at Mint price, 934½<i>d.</i>, the Bank pays +but 930½<i>d.</i> per ounce—a deduction of 0·43 per cent.”</p> + +<p><i>I</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 <i>Times</i> of +September 4th, 1869:—</p> + +<p class="blockquot fs_90">“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.”</p> + +<p>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:—</p> + +<p class="blockquot fs_90">“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. <i>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</i>, +and <i>in consequence</i> of their Lordships’ decision that +light gold coin shall <span class="smcap">for the future be received +back by</span> <span class="smcap">the Mint for recoinage</span>, the +question becomes at this moment one of <span class="allsmcap">PECULIAR IMPORTANCE</span>.”</p> + +<p>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 <i>now</i> 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:—</p> + +<p class="blockquot fs_90">“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 +<i>film of soft pure metal</i>, however, <i>is removed by wear</i>; and +the coins, <i>when remelted, will consequently be found to be below +standard fineness</i>.</p> + +<p class="blockquot fs_90">“This is a question of some importance +<span class="allsmcap">NOW</span> 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.”</p> + +<p>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 +<span class="pagenum" id="Page_56">[Pg 56]</span> +conclusion, Mr. Roberts having had but a few months’ experience in the +Mint, notwithstanding Mr. Fremantle’s reliance on his judgment.</p> + +<p>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 <a href="#Page_10">pages 10-12</a>, 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.</p> + +<p>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 <span class="allsmcap">GOOD BLACK</span> +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.</p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"> Coined <br>Money.</th> + <th class="tdc bl">Name of Master when<br>Coin was Pyxed.</th> + <th class="tdc bl" colspan="3">Value of the<br>Coined Money<br> Pyxed.</th> + <th class="tdc bl br">Weight of<br>Pieces taken<br>from the<br> Coined Money <br>for the Pyx.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl">£</td> + <td class="tdc"><i>s.</i></td> + <td class="tdc"><i>d.</i></td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="2">Gold</td> + <td class="tdl_wsp bl smcap">Sir J. F. W. Herschel, Bart. </td> + <td class="tdl_ws1 bl">2,977,190</td> + <td class="tdl_wsp">12</td> + <td class="tdl_wsp">2</td> + <td class="tdc bl br">1052·200</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl smcap">Thomas Graham, Esq.</td> + <td class="tdl_wsp bl">24,654,849</td> + <td class="tdl_wsp"> 0</td> + <td class="tdl_wsp">9¼</td> + <td class="tdc bl br">8300·087</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="2">Silver</td> + <td class="tdl_wsp bl smcap">Sir J. F. W. Herschel, Bart.</td> + <td class="tdr_wsp bl">100,450</td> + <td class="tdl_wsp"> 7</td> + <td class="tdl_wsp">0</td> + <td class="tdc bl br">121·899</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl smcap">Thomas Graham, Esq.</td> + <td class="tdl_wsp bl">2,331,666</td> + <td class="tdl_wsp">19</td> + <td class="tdl_wsp">6</td> + <td class="tdc bl br">2811·543</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"> Coined <br>Money.</th> + <th class="tdc bl">Name of Master when<br>Coin was Pyxed.</th> + <th class="tdc bl">Weight of<br>Coins taken<br>to melt into<br> an Ingot for <br>the Assay.</th> + <th class="tdc bl">Loss by<br> Melting to <br>obtain the<br>Ingot.</th> + <th class="tdc bl br">Weight of<br>Bullion<br>actually<br>taken from<br> the Ingot for <br>the Assay.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="2">Gold</td> + <td class="tdl_wsp bl smcap">Sir J. F. W. Herschel, Bart. </td> + <td class="tdl_ws1 bl"> 9·116</td> + <td class="tdc bl">0·020</td> + <td class="tdc bl br">0·766</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl smcap">Thomas Graham, Esq.</td> + <td class="tdl_ws1 bl">51·500</td> + <td class="tdc bl">0·077</td> + <td class="tdc bl br">1·310</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="2">Silver</td> + <td class="tdl_wsp bl smcap">Sir J. F. W. Herschel, Bart. </td> + <td class="tdl_ws1 bl"> 3·137</td> + <td class="tdc bl">0·046</td> + <td class="tdc bl br">1·287</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl smcap">Thomas Graham, Esq.</td> + <td class="tdl_ws1 bl">67·881</td> + <td class="tdc bl">0·652</td> + <td class="tdc bl br">1·781</td> + </tr> + </tbody> +</table> + +<p>The authorities of the Mint, having assented to part of my proposition, +have yet stopped half way, and blindly considering that the blanching +<i>alone</i> 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 +<span class="pagenum" id="Page_57">[Pg 57]</span> +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?</p> + +<p>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 href="#FIG_16">A, Fig. 16</a>, 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 +<span class="pagenum" id="Page_58">[Pg 58]</span> +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 <i>any other process</i>. 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 <i>frosted</i>; 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.</p> + +<div class="figcenter"> + <img id="FIG_16" src="images/fig_16.jpg" alt="" width="600" height="324" > + <p class="f120">Fig. 16.—Drying Room.</p> + <img id="I_058" src="images/i_058.jpg" alt="" width="400" height="592" > + <p class="f120">BOULTON’S SCREW-COINING PRESS.</p> + <p class="center spb2">AS USED IN THE ROYAL MINT.</p> +</div> + +<p><span class="pagenum" id="Page_59">[Pg 59]</span> +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 <i>crenated</i> 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<a id="FNanchor_36_36" href="#Footnote_36_36" class="fnanchor">[36]</a> +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.</p> + +<p>The steel engraving illustrates Mr. Boulton’s <a href="#I_058">screw-coining press</a>. +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;⁠<a id="FNanchor_37_37" href="#Footnote_37_37" class="fnanchor">[37]</a> +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 +<i>up</i>—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 <i>a</i>, 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, +<span class="pagenum" id="Page_60">[Pg 60]</span> +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.</p> + +<p>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 <i>f</i>, terminating in +the box in which he sits; the cord <i>f</i>, by its spring <i>n</i>, +releases the valve <i>d</i> at <i>i</i>, and permits it to act when +required; he next pulls the cord <i>g</i>, which by its loose lever +opens the valve <i>j</i>, through which the atmosphere passes freely +<span class="pagenum" id="Page_61">[Pg 61]</span> +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 <i>d</i>, but <i>d</i>, at the instant of +its release by the line <i>f</i>, 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 <i>j</i>, 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 <i>c</i> has brought a button, which it +carries on its farther side, and situated at <i>k</i>, down so low +that it strikes the lever <i>l</i>, and closes the valve <i>j</i>, +thus stopping the expansion of air below the piston, while the button +<i>m</i> has at the same instant permitted the falling of the lever +<i>e</i>, and the consequent opening of the valve <i>d</i>; 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 <i>d</i>, 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 <i>k</i>, and so soon as <i>k</i> +is removed, <i>l</i> is forced up by a spring at its farther end, and +opens the valve <i>j</i>, thus giving the means of consecutive action +to the press. If it be desired to stop the press, the boy loosens the +line <i>f</i>, and so permits the spring <i>n</i> to keep the valve +<i>d</i> permanently open. The boy, before supplying blanks to the tube +E, piles them on an iron block <i>b</i>, and flattens each blank in the +pile by one or two blows of a hammer on the top of the pile.</p> + +<p>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.”</p> + +<p>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 +<span class="pagenum" id="Page_62">[Pg 62]</span> +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.</p> + +<div class="figcenter"> + <img id="FIG_17" src="images/fig_17.jpg" alt="" width="600" height="193" > + <p class="f120">Fig. 17.—Petition Crown.</p> + <img id="FIG_18" src="images/fig_18.jpg" alt="" width="600" height="38" > + <p class="f120">Fig. 18.—Inscription on edge of the Petition Crown.</p> + <img id="FIG_19" src="images/fig_19.jpg" alt="" width="500" height="359" > + <p class="f120 spb2">Fig. 19.—Fillet and Collar.</p> +</div> + +<p>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, <i>Decus et +tutamen</i>,⁠<a id="FNanchor_38_38" href="#Footnote_38_38" class="fnanchor">[38]</a> +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 +(<i>vide</i> “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. <a href="#FIG_17">Fig. 17</a> +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 <a href="#FIG_18">Fig. 18</a> is +<span class="pagenum" id="Page_63">[Pg 63]</span> +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 <a href="#FIG_19">Fig. 19</a>, +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 <a href="#FIG_19">Fig. 19</a>, +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 +<span class="pagenum" id="Page_64">[Pg 64]</span> +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.</p> + +<p>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 +<a href="#Page_155">page 155</a>, 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. +<span class="pagenum" id="Page_65">[Pg 65]</span></p> + +<p><b><span class="smcap">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.</span></b></p> + +<p>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:—</p> + +<table class="spb1"> + <thead><tr class="bb bt"> + <th class="tdc bl"> </th> + <th class="tdc bl" colspan="2">Amount Coined since<br>1816.</th> + <th class="tdc bl">Withdrawn<br>from<br>Circulation.</th> + <th class="tdc bl br">Remaining in<br>Circulation.</th> + </tr></thead> + <tbody><tr class="fs_120"> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl">£</td> + <td class="tdc bl">£</td> + <td class="tdc bl br">£</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="4">CROWNS</td> + <td class="tdl_wsp bl">Victoria</td> + <td class="tdr_wsp bl">117,414</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br">117,414</td> + </tr><tr> + <td class="tdl_wsp bl">William IV</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">George IV</td> + <td class="tdr_wsp bl">140,726</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br">140,726</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">George III</td> + <td class="tdr_wsp bl">321,750</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br">321,750</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="4">HALF-CROWNS </td> + <td class="tdl_wsp bl">Victoria</td> + <td class="tdr_wsp bl">1,043,251</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br">1,043,251</td> + </tr><tr> + <td class="tdl_wsp bl">William IV</td> + <td class="tdr_wsp bl">380,556</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br">380,556</td> + </tr><tr> + <td class="tdl_wsp bl">George IV</td> + <td class="tdr_wsp bl">1,113,848</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br">1,113,848</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">George III</td> + <td class="tdr_wsp bl">2,387,088</td> + <td class="tdr_wsp bl">252,870</td> + <td class="tdr_wsp bl br">2,134,218</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">FLORINS</td> + <td class="tdl_wsp bl">Victoria</td> + <td class="tdr_wsp bl">1,541,161</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br">1,541,161</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="4">SHILLINGS</td> + <td class="tdl_wsp bl">Victoria</td> + <td class="tdr_wsp bl">2,609,504</td> + <td class="tdr_wsp bl">490</td> + <td class="tdr_wsp bl br">2,609,014</td> + </tr><tr> + <td class="tdl_wsp bl">William IV</td> + <td class="tdr_wsp bl">412,038</td> + <td class="tdr_wsp bl">49,944</td> + <td class="tdr_wsp bl br">362,094</td> + </tr><tr> + <td class="tdl_wsp bl">George IV</td> + <td class="tdr_wsp bl">878,922</td> + <td class="tdr_wsp bl">350,622</td> + <td class="tdr_wsp bl br">528,300</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">George III</td> + <td class="tdr_wsp bl">3,304,224</td> + <td class="tdr_wsp bl">867,674</td> + <td class="tdr_wsp bl br">2,436,550</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="4">SIXPENCES</td> + <td class="tdl_wsp bl">Victoria</td> + <td class="tdr_wsp bl">1,182,339</td> + <td class="tdr_wsp bl">298</td> + <td class="tdr_wsp bl br">1,182,041</td> + </tr><tr> + <td class="tdl_wsp bl">William IV </td> + <td class="tdr_wsp bl">281,994</td> + <td class="tdr_wsp bl">34,614</td> + <td class="tdr_wsp bl br">247,380</td> + </tr><tr> + <td class="tdl_wsp bl">George IV</td> + <td class="tdr_wsp bl">81,378</td> + <td class="tdr_wsp bl">47,738</td> + <td class="tdr_wsp bl br">33,640</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">George III</td> + <td class="tdr_wsp bl">919,314</td> + <td class="tdr_wsp bl">312,250</td> + <td class="tdr_wsp bl br">607,064</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">£</td> + <td class="tdr_wsp"> 16,715,507</td> + <td class="tdr_wsp bl">1,916,500</td> + <td class="tdr_wsp bl br">14,799,007</td> + </tr> + </tbody> +</table> + +<ul class="index"> +<li class="isub2">LEGEND:</li> +<li class="isub4"><b>(A)</b> = Average of <i>Loss by</i> wear in 100 <i>Years</i>, at the rate at</li> +<li class="isub7">which the Coinages of the several reigns have worn,</li> +<li class="isub7">up to the present time.</li> +<li class="isub4"><b>(B)</b> = Loss by wear on Amount withdrawn.</li> +<li class="isub4"><b>(C)</b> = Loss by wear on Amount in Circulation.</li> +<li class="isub4"><b>(D)</b> = Number of Coins examined singly.</li> +</ul> + +<table class="spb1"> + <thead><tr class="bb bt"> + <th class="tdc bl"> </th> + <th class="tdc bl"> </th> + <th class="tdc bl fs_120">(A)</th> + <th class="tdc bl fs_120">(B)</th> + <th class="tdc bl fs_120">(C)</th> + <th class="tdc fs_120 bl br">(D)</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl">Per Cent.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="4">CROWNS</td> + <td class="tdl_wsp bl">Victoria</td> + <td class="tdr_wsp bl">5·50</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">William IV</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">George IV</td> + <td class="tdr_wsp bl">7·04</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl">15,776</td> + <td class="tdr_wsp bl br">4,000</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">George III</td> + <td class="tdr_wsp bl">7·46</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="4">HALF-CROWNS </td> + <td class="tdl_wsp bl">Victoria</td> + <td class="tdr_wsp bl">14·17</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">William IV</td> + <td class="tdr_wsp bl">15·30</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">George IV</td> + <td class="tdr_wsp bl">15·80</td> + <td class="tdr_wsp bl">13,546</td> + <td class="tdr_wsp bl">250,270</td> + <td class="tdr_wsp bl br">20,000</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">George III</td> + <td class="tdr_wsp bl">15·92</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">FLORINS</td> + <td class="tdl_wsp bl">Victoria</td> + <td class="tdr_wsp bl">15·00</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl">10,147</td> + <td class="tdr_wsp bl br">5,000</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="4">SHILLINGS</td> + <td class="tdl_wsp bl">Victoria</td> + <td class="tdr_wsp bl">26·55</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">William IV</td> + <td class="tdr_wsp bl">26·82</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">George IV</td> + <td class="tdr_wsp bl">28·74</td> + <td class="tdr_wsp bl">167,684</td> + <td class="tdr_wsp bl">413,044</td> + <td class="tdr_wsp bl br">80,000</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">George III</td> + <td class="tdr_wsp bl">29·96</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="4">SIXPENCES</td> + <td class="tdl_wsp bl">Victoria </td> + <td class="tdr_wsp bl">37·00</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">William IV </td> + <td class="tdr_wsp bl">39·00</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">George IV</td> + <td class="tdr_wsp bl">44·80</td> + <td class="tdr_wsp bl">72,420</td> + <td class="tdr_wsp bl">221,380</td> + <td class="tdr_wsp bl br">60,000</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">George III</td> + <td class="tdr_wsp bl">45·00</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="4"> </td> + <td class="tdl_wsp bl" rowspan="4"> </td> + <td class="tdr_wsp bl" rowspan="4"> </td> + <td class="tdr_wsp bl" rowspan="2">253,650</td> + <td class="tdr_wsp bl">910,617</td> + <td class="tdr_wsp bl br">169,000</td> + </tr><tr> + <td class="tdr_wsp bl bb"> 253,650</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdr_wsp bl">£</td> + <td class="tdr_wsp">1,164,267</td> + <td class="tdl_wsp br">total</td> + </tr><tr class="bb"> + <td class="tdr_wsp bl"> </td> + <td class="tdr br" colspan="2">loss by wear.</td> + </tr><tr> + <td class="tdl_wsp" colspan="4"><span class="smcap">Bank of England</span>, <i>December, 1860</i>.</td> + <td class="tdr_wsp" colspan="2">W. MILLER.</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_66">[Pg 66]</span> +As further showing the rate of wear, I append a note which I have +copied from the eighth volume of the <i>Journal of the Society of +Arts</i>, 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<i>s.</i> 8<i>d.</i> on a hundred +sovereigns in a hundred years, as will be seen in his letter which follows:—</p> + +<div class="blockquot fs_90"> +<p class="author">“<span class="smcap">Bank of England, Gold Weighing Room,</span><br> +“<i>29th August, 1859</i>.  </p> + +<p>“<span class="smcap">Sir</span>,—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.</p> + +<p>“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.</p> + +<p class="author">“I have the honour to be, Sir,<span class="ws6"> </span><br> +“Your very obedient servant,<span class="ws2"> </span><br> +(Signed)  “<span class="smcap">J. Miller</span>.</p> + +<p>“A. Latham, Esq., Deputy Governor.”</p> +</div> + +<p>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.</p> + +<p><span class="smcap">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.</span></p> + +<ul class="index"> +<li class="isub2">LEGEND:</li> +<li class="isub4"><b>(A)</b> = Mint Weight of each Coin.</li> +<li class="isub4"><b>(B)</b> = Mint Weight of £100 worth.</li> +<li class="isub4"><b>(C)</b> = Weight of £100 worth of old Coin.</li> +<li class="isub4"><b>(D)</b> = Loss in 36 Years, 1822 as the Mean.</li> +</ul> + +<table class="spb1"> + <thead><tr class="bb bt"> + <th class="tdc bl"> </th> + <th class="tdc bl fs_120">(A)</th> + <th class="tdc bl fs_120">(B)</th> + <th class="tdc bl fs_120">(C)</th> + <th class="tdc fs_120 bl br">(D)</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl"> Ounces. </td> + <td class="tdc bl"> Ounces. </td> + <td class="tdc bl"> Ounces. </td> + <td class="tdc bl br"> Ounces. </td> + </tr><tr> + <td class="tdl_wsp bl">Sovereign</td> + <td class="tdr_wsp bl">·25682</td> + <td class="tdr_wsp bl">25·682</td> + <td class="tdr_wsp bl">25·360</td> + <td class="tdr_wsp bl br">·322</td> + </tr><tr> + <td class="tdl_wsp bl">Half-Sovereign </td> + <td class="tdr_wsp bl">·12841</td> + <td class="tdr_wsp bl">25·682</td> + <td class="tdr_wsp bl">25·070</td> + <td class="tdr_wsp bl br">·612</td> + </tr><tr> + <td class="tdl_wsp bl">Half-Crown</td> + <td class="tdr_wsp bl">·4545</td> + <td class="tdr_wsp bl">363·636</td> + <td class="tdr_wsp bl">345·850</td> + <td class="tdr_wsp bl br">17·786</td> + </tr><tr> + <td class="tdl_wsp bl">Shilling</td> + <td class="tdr_wsp bl">·1818</td> + <td class="tdr_wsp bl">363·636</td> + <td class="tdr_wsp bl">315·575</td> + <td class="tdr_wsp bl br">48·061</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Sixpence</td> + <td class="tdr_wsp bl">·0909</td> + <td class="tdr_wsp bl"> 363·636</td> + <td class="tdr_wsp bl"> 296·950</td> + <td class="tdr_wsp bl br">66·686</td> + </tr> + </tbody> +</table> + +<p>The above data applied to 100 years give the following results:— +<span class="pagenum" id="Page_67">[Pg 67]</span></p> + +<ul class="index"> +<li class="isub2">LEGEND:</li> +<li class="isub4"><b>(A)</b> = Mint Weight of £100 worth.</li> +<li class="isub4"><b>(B)</b> = Loss of Weight of £100 worth in a Century.</li> +<li class="isub4"><b>(C)</b> = Loss of Value in a Century.</li> +<li class="isub4"><b>(D)</b> = Loss of Weight of each piece in a Century.</li> +<li class="isub4"><b>(E)</b> = Loss of Volume from 1,000 parts in a Century.</li> +</ul> + +<table class="spb1"> + <thead><tr class="bb bt"> + <th class="tdc bl"> </th> + <th class="tdc bl fs_120">(A)</th> + <th class="tdc bl fs_120">(B)</th> + <th class="tdc bl fs_120">(C)</th> + <th class="tdc bl fs_120">(D)</th> + <th class="tdc fs_120 bl br">(E)</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl"> Ounces. </td> + <td class="tdc bl"> Ounces. </td> + <td class="tdc bl">£ m.</td> + <td class="tdc bl"> Ounces. </td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Sovereigns</td> + <td class="tdr_wsp bl">25·682</td> + <td class="tdr_wsp bl">·895</td> + <td class="tdr_wsp bl">3·485</td> + <td class="tdr_wsp bl">·00895</td> + <td class="tdr_wsp bl br">35·</td> + </tr><tr> + <td class="tdl_wsp bl">Half-Sovereigns </td> + <td class="tdr_wsp bl">25·682</td> + <td class="tdr_wsp bl">1·700</td> + <td class="tdr_wsp bl">6·620</td> + <td class="tdr_wsp bl">·00850</td> + <td class="tdr_wsp bl br">66·</td> + </tr><tr> + <td class="tdl_wsp bl">Half-Crowns</td> + <td class="tdr_wsp bl">363·636</td> + <td class="tdr_wsp bl">49·406</td> + <td class="tdr_wsp bl">13·587</td> + <td class="tdr_wsp bl">·06176</td> + <td class="tdr_wsp bl br">136·</td> + </tr><tr> + <td class="tdl_wsp bl">Shillings</td> + <td class="tdr_wsp bl">363·636</td> + <td class="tdr_wsp bl">133·503</td> + <td class="tdr_wsp bl">36·713</td> + <td class="tdr_wsp bl">·06675</td> + <td class="tdr_wsp bl br">367·</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Sixpences</td> + <td class="tdr_wsp bl"> 363·636</td> + <td class="tdr_wsp bl"> 185·239</td> + <td class="tdr_wsp bl"> 50·941</td> + <td class="tdr_wsp bl">·04631</td> + <td class="tdr_wsp bl br"> 509·</td> + </tr><tr> + <td class="tdr_wsp" colspan="6">(Signed) W. MILLER.</td> + </tr><tr> + <td class="tdl_wsp" colspan="6"><span class="smcap">Bank of England</span>, <i>8th October, 1859</i>.</td> + </tr> + </tbody> +</table> + +<p>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.</p> + +<p>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.</p> + +<p>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 +<span class="pagenum" id="Page_68">[Pg 68]</span> +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 <i>Dei Gratia</i>⁠<a id="FNanchor_39_39" href="#Footnote_39_39" class="fnanchor">[39]</a> +in its superscription, the coin fell into disfavour.</p> + +<p>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<a id="FNanchor_40_40" href="#Footnote_40_40" class="fnanchor">[40]</a> +of each denomination of coin current in Great Britain:—</p> + +<table class="spb1"> + <thead><tr class="bt"> + <th class="tdc bl" colspan="2">Denomination of Coin</th> + <th class="tdc bb bl"> Diameter. </th> + <th class="tdc bb bl" colspan="2">Weight in Troy.</th> + <th class="tdc bb bl br" colspan="2">Legal Tender.</th> + </tr></thead> + <tbody><tr> + <th class="tdc bl" colspan="2"> </th> + <td class="tdc bl">Inches.</td> + <td class="tdc bl">Grains.</td> + <td class="tdc bl"> Ounces. </td> + <td class="tdc bl">To the value of—</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl bt" rowspan="2">Gold.</td> + <td class="tdl_wsp bl bt">Sovereign</td> + <td class="tdr_wsp bl">0·8680</td> + <td class="tdr_wsp bl">123·2744</td> + <td class="tdr_wsp bl">0·2568</td> + <td class="tdc bl">The highest sum</td> + <td class="tdc bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Half-Sovereign </td> + <td class="tdr_wsp bl">0·7622</td> + <td class="tdr_wsp bl">61·6372</td> + <td class="tdr_wsp bl">0·1284</td> + <td class="tdc bl">known.</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="12">Silver.</td> + <td class="tdl_wsp bl">Crown</td> + <td class="tdr_wsp bl">1·5048</td> + <td class="tdr_wsp bl">436·3636</td> + <td class="tdr_wsp bl">0·9090</td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Half-Crown</td> + <td class="tdr_wsp bl">1·2714</td> + <td class="tdr_wsp bl">218·1818</td> + <td class="tdr_wsp bl">0·4545</td> + <td class="tdc bl" rowspan="4"> </td> + <td class="tdc bl br" rowspan="4"> </td> + </tr><tr> + <td class="tdl_wsp bl">Florin</td> + <td class="tdr_wsp bl">1·1826</td> + <td class="tdr_wsp bl">174·5454</td> + <td class="tdr_wsp bl">0·3636</td> + </tr><tr> + <td class="tdl_wsp bl">Shilling</td> + <td class="tdr_wsp bl">0·9296</td> + <td class="tdr_wsp bl">87·2727</td> + <td class="tdr_wsp bl">0·1818</td> + </tr><tr> + <td class="tdl_wsp bl">Sixpence</td> + <td class="tdr_wsp bl">0·7648</td> + <td class="tdr_wsp bl">43·6363</td> + <td class="tdr_wsp bl">0·0909</td> + </tr><tr> + <td class="tdl_wsp bl">Fourpence</td> + <td class="tdr_wsp bl">0·6456</td> + <td class="tdr_wsp bl">29·0909</td> + <td class="tdr_wsp bl">0·0606</td> + <td class="tdc bl">Forty shillings</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Threepence</td> + <td class="tdr_wsp bl">0·6383</td> + <td class="tdr_wsp bl">21·8181</td> + <td class="tdr_wsp bl">0·4545</td> + <td class="tdc bl">sterling.</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_ws2 bl"><i>Maundy.</i></td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdc bl" rowspan="5"> </td> + <td class="tdc bl br" rowspan="5"> </td> + </tr><tr> + <td class="tdl_wsp bl">Fourpence</td> + <td class="tdr_wsp bl">0·6957</td> + <td class="tdr_wsp bl">29·0909</td> + <td class="tdr_wsp bl">0·0605</td> + </tr><tr> + <td class="tdl_wsp bl">Threepence</td> + <td class="tdr_wsp bl">0·6383</td> + <td class="tdr_wsp bl">21·8181</td> + <td class="tdr_wsp bl">0·4545</td> + </tr><tr> + <td class="tdl_wsp bl">Twopence</td> + <td class="tdr_wsp bl">0·5294</td> + <td class="tdr_wsp bl">14·5454</td> + <td class="tdr_wsp bl">0·0303</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Penny</td> + <td class="tdr_wsp bl">0·4388</td> + <td class="tdr_wsp bl">7·2727</td> + <td class="tdr_wsp bl">0·0151</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="4">Copper. </td> + <td class="tdl_wsp bl">Penny</td> + <td class="tdr_wsp bl">1·3502</td> + <td class="tdr_wsp bl"> 291·6666</td> + <td class="tdr_wsp bl">0·6076</td> + <td class="tdl_wsp bl">One shilling sterlg. </td> + <td class="tdc bl br">Proclaimed</td> + </tr><tr> + <td class="tdl_wsp bl">Halfpenny</td> + <td class="tdr_wsp bl">1·1155</td> + <td class="tdr_wsp bl">145·8333</td> + <td class="tdr_wsp bl">0·3038</td> + <td class="tdl_wsp bl">Sixpence<span class="ws2">”</span></td> + <td class="tdc bl br">illegal</td> + </tr><tr> + <td class="tdl_wsp bl">Farthing</td> + <td class="tdr_wsp bl">0·8575</td> + <td class="tdr_wsp bl">72·9166</td> + <td class="tdr_wsp bl">0·1519</td> + <td class="tdl_wsp bl">Sixpence<span class="ws2">”</span></td> + <td class="tdc bl br">since 31st</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Half-Farthing</td> + <td class="tdr_wsp bl">0·6953</td> + <td class="tdr_wsp bl">36·4583</td> + <td class="tdr_wsp bl">0·0759</td> + <td class="tdl_wsp bl">Sixpence<span class="ws2">”</span></td> + <td class="tdc bl br"> December, 1869. </td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="3">Bronze</td> + <td class="tdl_wsp bl">Penny</td> + <td class="tdr_wsp bl">1·2000</td> + <td class="tdr_wsp bl">145·8333</td> + <td class="tdr_wsp bl">0·3038</td> + <td class="tdl_wsp bl">One shilling ”</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Halfpenny</td> + <td class="tdr_wsp bl">1·0000</td> + <td class="tdr_wsp bl">87·5000</td> + <td class="tdr_wsp bl">0·1822</td> + <td class="tdl_wsp bl">One shilling ”</td> + <td class="tdc bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Farthing</td> + <td class="tdr_wsp bl">0·8000</td> + <td class="tdr_wsp bl">43·7500</td> + <td class="tdr_wsp bl">0·0911</td> + <td class="tdl_wsp bl">One shilling ”</td> + <td class="tdc bl br"> </td> + </tr> + </tbody> +</table> + +<p>The press for coining is still defective: one of its defects is the +production of imperfect coins, of which <a href="#FIG_20">Fig. 20</a> 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 +<span class="pagenum" id="Page_69">[Pg 69]</span> +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. +<a href="#FIG_21">Fig. 21</a> 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 <i>incused coins</i>, 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.</p> + +<div class="figcenter"> + <img id="FIG_20" src="images/fig_20.jpg" alt="" width="400" height="197" > + <p class="f120">Fig. 20.—Brockage.</p> + <img id="FIG_21" src="images/fig_21.jpg" alt="" width="400" height="202" > + <p class="f120 spb2">Fig. 21.—Brockage.</p> +</div> + +<p>Such being some of the imperfections of Mr. Boulton’s <a href="#I_058">coining press</a>, +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 +<span class="pagenum" id="Page_70">[Pg 70]</span> +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.</p> + +<p>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 <i>and see each one</i>. 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.</p> + +<p>After this overlooking, the coins are rung as blanks used to be, +and then weighed separately, <i>all</i> the rejected going to the +melting-pot, by which a waste⁠<a id="FNanchor_41_41" href="#Footnote_41_41" class="fnanchor">[41]</a> +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 <i>pyxing</i>, 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 +<i>pyx</i> for the trial of <span class="allsmcap">THE PYX</span> 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.</p> + +<p>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<a id="FNanchor_42_42" href="#Footnote_42_42" class="fnanchor">[42]</a> +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 +<span class="pagenum" id="Page_71">[Pg 71]</span> +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.</p> + +<p>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<a id="FNanchor_43_43" href="#Footnote_43_43" class="fnanchor">[43]</a> +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.</p> + +<p>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 <i>pound the work</i> as is directed by law.” +I therefore asked him, as the matter was a very grave one, to <i>write +the order</i>. 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<i>s.</i> 6<i>d.</i>, while others reached so high as 2<i>s.</i> +9<i>d.</i> Mr. Graham was greatly distressed about this occurrence, +<span class="pagenum" id="Page_72">[Pg 72]</span> +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.</p> + +<p>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 <i>Times</i>, on Thursday, +March 10, 1870.</p> + +<p>“The following relates to the coinage question:—</p> + +<div class="blockquot fs_90"> +<p class="author">“<i>March 8th.</i>  </p> + +<p>“<span class="smcap">Sir</span>,—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.</p> + +<p>“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.</p> + +<p class="author">“I am, Sir, your obedient servant,<span class="ws4"> </span><br> +“<span class="smcap">Nummorum Famulus</span>.”</p> +</div> + +<p>I may add that Mr. Fremantle has purchased a copy of my last impression +for the Mint Library.</p> + +<p>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.⁠<a id="FNanchor_44_44" href="#Footnote_44_44" class="fnanchor">[44]</a></p> + +<p><span class="pagenum" id="Page_73">[Pg 73]</span></p> + +<p class="f120"><b>FIRST SCHEDULE.</b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" rowspan="2"> Denomination of <br>Coin.</th> + <th class="tdc bl fs_120" colspan="2"> Standard Weight. </th> + <th class="tdc bl br fs_120" colspan="2"> Least Current Weight. </th> + </tr><tr class="bb"> + <th class="tdc bl">Imperial<br>Weight.<br>Grains.</th> + <th class="tdc bl">Metric<br>Weight.<br>Grams.</th> + <th class="tdc bl">Imperial<br>Weight.<br>Grains.</th> + <th class="tdc bl br">Metric<br>Weight.<br>Grams.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl">Gold:</td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_ws2 bl">Five Pound</td> + <td class="tdr_wsp bl">616·37239</td> + <td class="tdr_wsp bl">39·94028</td> + <td class="tdr_wsp bl">612·50000</td> + <td class="tdr_wsp bl br">39·68935</td> + </tr><tr> + <td class="tdl_ws2 bl">Two Pound</td> + <td class="tdr_wsp bl">246·54895</td> + <td class="tdr_wsp bl">15·97611</td> + <td class="tdr_wsp bl">245·00000</td> + <td class="tdr_wsp bl br">5·87574</td> + </tr><tr> + <td class="tdl_ws2 bl">Sovereign</td> + <td class="tdr_wsp bl">123·27447</td> + <td class="tdr_wsp bl">7·98805</td> + <td class="tdr_wsp bl">122·50000</td> + <td class="tdr_wsp bl br">7·93787</td> + </tr><tr class="bb"> + <td class="tdl_ws2 bl">Half-Sovereign</td> + <td class="tdr_wsp bl">61·63723</td> + <td class="tdr_wsp bl">3·99402</td> + <td class="tdr_wsp bl">61·12500</td> + <td class="tdr_wsp bl br">3·96083</td> + </tr><tr> + <td class="tdl_wsp bl">Silver:</td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_ws2 bl">Crown</td> + <td class="tdr_wsp bl">436·36363</td> + <td class="tdr_wsp bl">28·27590</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr> + <td class="tdl_ws2 bl">Half-Crown</td> + <td class="tdr_wsp bl">218·18181</td> + <td class="tdr_wsp bl">14·13795</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr> + <td class="tdl_ws2 bl">Florin</td> + <td class="tdr_wsp bl">174·54545</td> + <td class="tdr_wsp bl">11·31036</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr> + <td class="tdl_ws2 bl">Shilling</td> + <td class="tdr_wsp bl">87·27272</td> + <td class="tdr_wsp bl">5·65518</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr> + <td class="tdl_ws2 bl">Sixpence</td> + <td class="tdr_wsp bl">43·63636</td> + <td class="tdr_wsp bl">2·82759</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr> + <td class="tdl_ws2 bl">Groat or Fourpence </td> + <td class="tdr_wsp bl">29·09090</td> + <td class="tdr_wsp bl">1·88506</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr> + <td class="tdl_ws2 bl">Threepence</td> + <td class="tdr_wsp bl">21·81818</td> + <td class="tdr_wsp bl">1·41379</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr> + <td class="tdl_ws2 bl">Twopence</td> + <td class="tdr_wsp bl">14·54545</td> + <td class="tdr_wsp bl">0·94253</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr class="bb"> + <td class="tdl_ws2 bl">Penny</td> + <td class="tdr_wsp bl">7·27272</td> + <td class="tdr_wsp bl">0·47126</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr> + <td class="tdl_wsp bl">Bronze:</td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_ws2 bl">Penny</td> + <td class="tdr_wsp bl">145·83333</td> + <td class="tdr_wsp bl">9·44984</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr> + <td class="tdl_ws2 bl">Halfpenny</td> + <td class="tdr_wsp bl">87·50000</td> + <td class="tdr_wsp bl">5·66990</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr class="bb"> + <td class="tdl_ws2 bl">Farthing</td> + <td class="tdr_wsp bl">43·75000</td> + <td class="tdr_wsp bl">2·83495</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" rowspan="3"> Denomination of <br>Coin.</th> + <th class="tdc bl" rowspan="3"> Standard Fineness. </th> + <th class="tdc bl br fs_120" colspan="3">   Remedy Allowance.   </th> + </tr><tr class="bb"> + <th class="tdc bl" colspan="2">Weight per piece.</th> + <th class="tdc bl br" rowspan="2">Millesimal<br>Fineness.</th> + </tr><tr class="bb"> + <th class="tdc bl">Imperial<br>Grains.</th> + <th class="tdc bl br">Metric<br>Grams.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl">Gold:</td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_ws2 bl">Five Pound</td> + <td class="tdc bl">Eleven-twelfths</td> + <td class="tdr_wsp bl">1·00000</td> + <td class="tdr_wsp bl">0·06479</td> + <td class="tdr_wsp bl br" rowspan="4">0·002</td> + </tr><tr> + <td class="tdl_ws2 bl">Two Pound</td> + <td class="tdc bl">fine gold,</td> + <td class="tdr_wsp bl">0·40000</td> + <td class="tdr_wsp bl">0·02592</td> + </tr><tr> + <td class="tdl_ws2 bl">Sovereign</td> + <td class="tdc bl">one-twelfth</td> + <td class="tdr_wsp bl">0·20000</td> + <td class="tdr_wsp bl">0·01296</td> + </tr><tr> + <td class="tdl_ws2 bl">Half-Sovereign</td> + <td class="tdc bl">alloy;</td> + <td class="tdr_wsp bl">0·10000</td> + <td class="tdr_wsp bl">0·00648</td> + </tr><tr> + <td class="tdl_ws2 bl"> </td> + <td class="tdc bl">or millesimal</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_ws2 bl"> </td> + <td class="tdc bl">fineness 916·66.</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Silver:</td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_ws2 bl">Crown</td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl">1·81818</td> + <td class="tdr_wsp bl">0·11781</td> + <td class="tdr_wsp bl br" rowspan="9">0·004</td> + </tr><tr> + <td class="tdl_ws2 bl">Half-Crown</td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl">0·90909</td> + <td class="tdr_wsp bl">0·05890</td> + </tr><tr> + <td class="tdl_ws2 bl">Florin</td> + <td class="tdc bl">Thirty-seven</td> + <td class="tdr_wsp bl">0·72727</td> + <td class="tdr_wsp bl">0·04712</td> + </tr><tr> + <td class="tdl_ws2 bl">Shilling</td> + <td class="tdc bl">fortieths fine</td> + <td class="tdr_wsp bl">0·36363</td> + <td class="tdr_wsp bl">0·02356</td> + </tr><tr> + <td class="tdl_ws2 bl">Sixpence</td> + <td class="tdc bl">silver,</td> + <td class="tdr_wsp bl">0·18181</td> + <td class="tdr_wsp bl">0·01178</td> + </tr><tr> + <td class="tdl_ws2 bl">Groat or Fourpence</td> + <td class="tdc bl">three-fortieths</td> + <td class="tdr_wsp bl">0·12121</td> + <td class="tdr_wsp bl">0·00785</td> + </tr><tr> + <td class="tdl_ws2 bl">Threepence</td> + <td class="tdc bl">alloy; or</td> + <td class="tdr_wsp bl">0·09090</td> + <td class="tdr_wsp bl">0·00589</td> + </tr><tr> + <td class="tdl_ws2 bl">Twopence</td> + <td class="tdc bl">millesimal</td> + <td class="tdr_wsp bl">0·06060</td> + <td class="tdr_wsp bl">0·00392</td> + </tr><tr class="bb"> + <td class="tdl_ws2 bl">Penny</td> + <td class="tdc bl">fineness 925·</td> + <td class="tdr_wsp bl">0·03030</td> + <td class="tdr_wsp bl">0·00196</td> + </tr><tr> + <td class="tdl_wsp bl">Bronze:</td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_ws2 bl">Penny</td> + <td class="tdc bl">Mixed metal,</td> + <td class="tdr_wsp bl">2·91666</td> + <td class="tdr_wsp bl">0·18899</td> + <td class="tdr_wsp bl br" rowspan="3">None.</td> + </tr><tr> + <td class="tdl_ws2 bl">Halfpenny</td> + <td class="tdc bl">copper, tin,</td> + <td class="tdr_wsp bl">1·75000</td> + <td class="tdr_wsp bl">0·11339</td> + </tr><tr class="bb"> + <td class="tdl_ws2 bl">Farthing</td> + <td class="tdc bl">and zinc.</td> + <td class="tdr_wsp bl">0·87500</td> + <td class="tdr_wsp bl">0·05669</td> + </tr> + </tbody> +</table> + +<p class="blockquot fs_90">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.</p> + +<p><span class="pagenum" id="Page_74">[Pg 74]</span> +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.</p> + +<p>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.”</p> + +<p>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,⁠<a id="FNanchor_45_45" href="#Footnote_45_45" class="fnanchor">[45]</a> +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 +<span class="pagenum" id="Page_75">[Pg 75]</span> +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 +<span class="pagenum" id="Page_76">[Pg 76]</span> +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.</p> + +<p>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.</p> + +<p>As dies are the means by which metal becomes <span class="allsmcap">COIN</span>, +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 +<span class="pagenum" id="Page_77">[Pg 77]</span> +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 <a href="#FIG_22">colander D, Fig. 22</a>, +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 +<span class="pagenum" id="Page_78">[Pg 78]</span> +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 <span class="allsmcap">FROM THE CENTRE</span>. 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 +<span class="pagenum" id="Page_79">[Pg 79]</span> +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 <span class="allsmcap">COLOUR</span> 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 <i>bite</i> 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.</p> + +<div class="figcenter"> + <img id="FIG_22" src="images/fig_22.jpg" alt="" width="400" height="559" > + <p class="f120 spb2">Fig. 22.—Die Hardening.</p> +</div> + +<p>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. +<span class="pagenum" id="Page_80">[Pg 80]</span></p> + +<p>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. +<a href="#FIG_23">Fig. 23</a> 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.</p> + +<div class="figcenter"> + <img id="FIG_23" src="images/fig_23.jpg" alt="" width="400" height="520" > + <p class="f120 spb2">Fig. 23.—Coining Dies and Collar.</p> +</div> + +<p>The long-necked die is fitted into a bolster D, as shown in <a href="#FIG_23">Fig. 23</a>, +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 <a href="#Page_60">page 60</a>. +<span class="pagenum" id="Page_81">[Pg 81]</span></p> + +<p>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.</p> + +<p>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.</p> + +<p>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 +<span class="pagenum" id="Page_82">[Pg 82]</span> +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.</p> + +<p>I now advert to a most important matter in relation to coining, viz., +that of the loss sustained, its cause, and prevention.</p> + +<p>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<a id="FNanchor_46_46" href="#Footnote_46_46" class="fnanchor">[46]</a> +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;⁠<a id="FNanchor_47_47" href="#Footnote_47_47" class="fnanchor">[47]</a> +by melting⁠<a id="FNanchor_48_48" href="#Footnote_48_48" class="fnanchor">[48]</a> +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 <span class="allsmcap">WITHOUT WASTE OF METAL</span>. +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 +<span class="pagenum" id="Page_83">[Pg 83]</span> +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, <span class="allsmcap">NECESSARY</span>. +Notwithstanding Mr. Graham’s opinion that a loss of £206 on a million +<i>was too high</i>,⁠<a id="FNanchor_49_49" href="#Footnote_49_49" class="fnanchor">[49]</a> +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 <i>has not been excessive</i>.”</p> + +<p>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:—</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl_wsp">A loss of</td> + <td class="tdl_wsp">1·20</td> + <td class="tdl_wsp">grains</td> + <td class="tdl_wsp">on the lb.</td> + <td class="tdl_wsp">= £208·33</td> + <td class="tdl_wsp">on each</td> + <td class="tdl_wsp">£1,000,000.</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">3·10</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + <td class="tdl_wsp">= £538·18</td> + <td class="tdc">”</td> + <td class="tdl_wsp">£1,000,000.</td> + </tr><tr> + <td class="tdl">Mean loss</td> + <td class="tdl_wsp">2·15</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + <td class="tdl_wsp">= £373·26</td> + <td class="tdc">”</td> + <td class="tdl_wsp">£1,000,000.</td> + </tr> + </tbody> +</table> + +<p>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.</p> + +<p>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. +<span class="pagenum" id="Page_84">[Pg 84]</span></p> + +<p class="f120"><b><span class="smcap">Statement showing the Rate of +Coin obtained and the Loss of Metal incurred in each Quarter from +March, 1852, to December, 1857.</span></b></p> + +<p> <span class="fs_120"><b>(A)</b></span> = Proportional Loss of Metal +on each Million Ounces Coined.</p> + +<table class="spb1 spa2"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="2"> Quarter ending:— </th> + <th class="tdc bl"> Total Amount of <br>Gold Coined<br>per Quarter.</th> + <th class="tdc bl">Rate per Centum<br>of Coin obtained<br> from Rough Bars. </th> + <th class="tdc fs_120 bl br">(A)</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1852</td> + <td class="tdr_wsp bl">300260·201</td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl br">446·94</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">501032·558</td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl br">399·17</td> + </tr><tr> + <td class="tdl_wsp bl">Sept. 30th,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">615753·337</td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl br">500·50</td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">828159·837</td> + <td class="tdc bl">50·51</td> + <td class="tdr_wsp bl br">639·37</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1853</td> + <td class="tdr_wsp bl">1113414·454</td> + <td class="tdc bl">47·28</td> + <td class="tdr_wsp bl br">691·60</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">1223454·550</td> + <td class="tdc bl">49·40</td> + <td class="tdr_wsp bl br">472·34</td> + </tr><tr> + <td class="tdl_wsp bl">Sept. 30th,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">248434·554</td> + <td class="tdc bl">39·34</td> + <td class="tdr_wsp bl br"> 1130·64</td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">484331·447</td> + <td class="tdc bl">42·81</td> + <td class="tdr_wsp bl br">784·42</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1854</td> + <td class="tdr_wsp bl">769791·029</td> + <td class="tdc bl">54·21</td> + <td class="tdr_wsp bl br">730·61</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">101611·604</td> + <td class="tdc bl">49·65</td> + <td class="tdr_wsp bl br">787·21</td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">194968·684</td> + <td class="tdc bl">47·76</td> + <td class="tdr_wsp bl br">583·07</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1855</td> + <td class="tdr_wsp bl">515639·229</td> + <td class="tdc bl">47·42</td> + <td class="tdr_wsp bl br">447·05</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">501708·378</td> + <td class="tdc bl">47·01</td> + <td class="tdr_wsp bl br">456·20</td> + </tr><tr> + <td class="tdl_wsp bl">Sept. 30th,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">283944·316</td> + <td class="tdc bl">43·53</td> + <td class="tdr_wsp bl br">420·18</td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">1012329·518</td> + <td class="tdc bl">44·57</td> + <td class="tdr_wsp bl br">509·08</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1856</td> + <td class="tdr_wsp bl">360409·244</td> + <td class="tdc bl">38·39</td> + <td class="tdr_wsp bl br">489·05</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">818465·116</td> + <td class="tdc bl">40·36</td> + <td class="tdr_wsp bl br">509·57</td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">362599·792</td> + <td class="tdc bl">41·74</td> + <td class="tdr_wsp bl br">406·28</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1857</td> + <td class="tdr_wsp bl">73638·878</td> + <td class="tdc bl">39·64</td> + <td class="tdr_wsp bl br">233·84</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">19872·998</td> + <td class="tdc bl">40·52</td> + <td class="tdr_wsp bl br">57·86</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdr_wsp bl">1154606·290</td> + <td class="tdc bl">54·69</td> + <td class="tdr_wsp bl br">18·45</td> + </tr> + </tbody> +</table> + +<p>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.⁠<a id="FNanchor_50_50" href="#Footnote_50_50" class="fnanchor">[50]</a> +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<i>s.</i> +10½<i>d.</i>, 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<i>s.</i> 3¼<i>d.</i>, which +sum lost weight by coining at the rate of £446 18<i>s.</i> 9½<i>d.</i> +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,⁠<a id="FNanchor_51_51" href="#Footnote_51_51" class="fnanchor">[51]</a> +and this was believed to be absolutely wasted in coining; but this +amount may be fairly reduced by the deduction of £72 10<i>s.</i>, 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. +<span class="pagenum" id="Page_85">[Pg 85]</span></p> + +<p>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.</p> + +<p>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”⁠<a id="FNanchor_52_52" href="#Footnote_52_52" class="fnanchor">[52]</a> +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.</p> + +<p>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.</p> + +<p>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.</p> + +<p>If indeed proof that unnecessary wasteage⁠<a id="FNanchor_53_53" href="#Footnote_53_53" class="fnanchor">[53]</a> +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. +<span class="pagenum" id="Page_86">[Pg 86]</span> +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<i>s.</i> 0¾<i>d.</i>, and +on the gold of the last three years £172 8<i>s.</i> 11½<i>d.</i> per +million coined, showing an improvement of £611 11<i>s.</i> 1¼<i>d.</i> +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.</p> + +<p>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 <a href="#Page_90">page 90</a> 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 <i>scrap or supply</i>, 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.</p> + +<p>It would be wrong to state that there is no <i>apparent</i> 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 “<i>matter cannot be +lost</i>,” 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.</p> + +<p>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<a id="FNanchor_54_54" href="#Footnote_54_54" class="fnanchor">[54]</a> +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. +<span class="pagenum" id="Page_87">[Pg 87]</span> +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.</p> + +<p>Now the <span class="allsmcap">MONEYERS</span>⁠<a id="FNanchor_55_55" href="#Footnote_55_55" class="fnanchor">[55]</a> +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 <i>cause</i> +loss, small quantities of oil <span class="allsmcap">PREVENT</span> +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.</p> + +<ul class="index"> +<li class="isub2"><i>First Witch</i>. Round about the journeys go,</li> +<li class="isub5">In the dirt and rubbish throw;</li> +<li class="isub5">Extraneous matters, small and great,</li> +<li class="isub5">Everything to make the weight.</li> +<li class="isub1"> </li> +<li class="isub2"><i>Second Witch</i>. Stone swept up and pounded small,</li> +<li class="isub5">Pieces of the stuccoed wall, + <span class="pagenum" id="Page_88">[Pg 88]</span></li> +<li class="isub5">A bit of saffron-coloured brick,</li> +<li class="isub5">Odds and ends of broken stick;</li> +<li class="isub5">Here’s the sweeping of the floor,</li> +<li class="isub5">Weighing full an ounce or more.</li> +<li class="isub1"> </li> +<li class="isub2"><i>All</i>. Hubble bubble, toil and bubble,</li> +<li class="isub5">Give the melter every trouble.</li> +<li class="isub1"> </li> +<li class="isub2"><i>Third Witch</i>. Copper by annealing got,</li> +<li class="isub5">Send largely to the melting-pot;</li> +<li class="isub5">A pennyweight of leather strap,</li> +<li class="isub5">A piece of old brown paper cap,</li> +<li class="isub5">Some cotton fluff, ten grains of coal,</li> +<li class="isub5">Then <span class="allsmcap">OIL</span> to saturate the whole.</li> +<li class="isub1"> </li> +<li class="isub2"><i>All</i>. Hubble bubble, toil and bubble,</li> +<li class="isub5">Give the melter every trouble.</li> +<li class="isub1"> </li> +<li class="isub2"><span class="smcap">Macbeth</span> (<i>as Justice</i>). How now, ye secret, black,</li> +<li class="isub7">and cunning rollers!</li> +<li class="isub5">What is’t ye do?</li> +<li class="isub1"> </li> +<li class="isub2"><i>All</i>.<span class="ws6">A deed without a name.</span></li> +<li class="isub1"> </li> +<li class="isub2"><i>24th November, 1862.</i><span class="ws9">J. G.</span></li> +</ul> + +<p>Upon consulting the table—<a href="#Page_90">see p. 90</a>—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<i>s.</i> 0<i>d</i>., which sum, divided by the +amount of gold coined in that period—viz., £40345185·450, gives £494 +as a <i>bona fide</i> loss on each million pounds coined, when the +belief was to the effect that there must be a loss. The great fact, +<i>that matter once existent cannot be lost</i>, 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 +<i>absolutely volatilised</i>, 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 <i>necessary</i> +amount of loss in each operation, as well as a series of experiments to +elucidate other points requiring reform and explanation.</p> + +<p>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 <i>each step in its passage from bullion to coined money</i> +<span class="pagenum" id="Page_89">[Pg 89]</span> +I carefully weighed it, and made the foreman again check me, all +the men being witnesses. At the end of the operations a +<span class="allsmcap">FIXED GAIN</span> 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 <span class="allsmcap">LOSS</span> +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.</p> + +<p>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.</p> + +<p>The report placed on <a href="#Page_92">page 92</a> is a copy of one +I made to the Master, so I give it <i>in extenso</i>, 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. +<span class="pagenum" id="Page_90">[Pg 90]</span></p> + +<p class="f120"><b><span class="smcap">Statement of Losses incurred and of Sweep recovered.<br> +This refers wholly to Gold in the Coining Department.</span></b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl">Weight of<br>Coinage.</th> + <th class="tdc bl" colspan="3">Value of Coinage.</th> + <th class="tdc bl br">Weight of<br>Lost Metal.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852</td> + <td class="tdr_wsp bl">351837·830</td> + <td class="tdr_wsp bl">1,369,968</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1">0</td> + <td class="tdr_wsp bl br">134·206</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">3058360·186</td> + <td class="tdr_wsp bl"> 11,908,489</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp">5½</td> + <td class="tdr_wsp bl br">1851·888</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">2726011·580</td> + <td class="tdr_wsp bl">10,614,408</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp">9¾</td> + <td class="tdr_wsp bl br">1804·559</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">812219·517</td> + <td class="tdr_wsp bl">3,162,579</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp">10½</td> + <td class="tdr_wsp bl br">424·092</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">2158391·456</td> + <td class="tdr_wsp bl">8,404,236</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp">7½</td> + <td class="tdr_wsp bl br">1039·798</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1254703·786</td> + <td class="tdr_wsp bl">4,885,502</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl br">581·615</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">1256586·572</td> + <td class="tdr_wsp bl">4,892,833</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl br">17·784</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">736150·582</td> + <td class="tdr_wsp bl">2,866,386</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp">6¾</td> + <td class="tdr_wsp bl br">16·603</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">980070·679</td> + <td class="tdr_wsp bl">3,816,150</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl br">74·857</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl">861205·000</td> + <td class="tdr_wsp bl">3,353,316</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1">5</td> + <td class="tdr_wsp bl br" rowspan="2">263·568</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdr_wsp bl">1872214·638</td> + <td class="tdr_wsp bl">7,289,935</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl"> 2351444·336</td> + <td class="tdr_wsp bl">9,155,936</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl br">27·480</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">1807332·130</td> + <td class="tdr_wsp bl">7,037,299</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl br">47·054</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">1949438·200</td> + <td class="tdr_wsp bl">7,590,624</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1">10</td> + <td class="tdr_wsp bl br">43·491</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">1256347·104</td> + <td class="tdr_wsp bl">4,891,901</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl br">57·612</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">175838·208</td> + <td class="tdr_wsp bl">684,670</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1">5</td> + <td class="tdr_wsp bl br">5·037</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">109580·129</td> + <td class="tdr_wsp bl">426,677</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp">1¾</td> + <td class="tdr_wsp bl br">3·357</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">June</td> + <td class="tdl_wsp">1868</td> + <td class="tdl_wsp">to Sept.</td> + <td class="tdl_wsp">1868 </td> + <td class="tdr_wsp bl">280993·740</td> + <td class="tdr_wsp bl">1,094,119</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1">6</td> + <td class="tdr_ws1 bl br">⁂19·87</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl" colspan="3"> Value of Lost Metal. </th> + <th class="tdc bl br" colspan="3"> Value of Sweep. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl">522</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">89</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">3</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">7,210</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp">9¼</td> + <td class="tdr_wsp bl">716</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp br">11½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">7,026</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp">0¼</td> + <td class="tdr_wsp bl">707</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp br">3½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">1,651</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp">1¾</td> + <td class="tdr_wsp bl">222</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">3</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">4,148</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">635</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp br">1½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">2,264</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">422</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">69</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1">11</td> + <td class="tdr_wsp bl">192</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">64</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp">11½</td> + <td class="tdr_wsp bl">209</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">291</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">254</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">9</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">1,026</td> + <td class="tdr_wsp" rowspan="2">5</td> + <td class="tdr_ws1" rowspan="2">4</td> + <td class="tdr_wsp bl" rowspan="2">545</td> + <td class="tdr_wsp" rowspan="2">10</td> + <td class="tdr_wsp br" rowspan="2">5½</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">+ 107</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1">1</td> + <td class="tdr_wsp bl">360</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">+ 183</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">459</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">1</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">169</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">10</td> + <td class="tdr_wsp bl">295</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">3½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">224</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">350</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1 br">9</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">19</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1">3</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">13</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1">5</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">June</td> + <td class="tdl_wsp">1868</td> + <td class="tdl_wsp">to Sept.</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">77</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1">7</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl" colspan="3">Value of Lost Metal.<br>per Million Coined.</th> + <th class="tdc bl br" colspan="3">Value of Sweep.<br>per Million Coined.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl">381</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp">10¼</td> + <td class="tdr_wsp bl">65</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp br">2½</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">605</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp">3¾</td> + <td class="tdr_wsp bl">60</td> + <td class="tdr_wsp">3</td> + <td class="tdr_wsp br">5¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">661</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp">6½</td> + <td class="tdr_wsp bl">66</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">522</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp">1¾</td> + <td class="tdr_wsp bl">70</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">481</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp">10¾</td> + <td class="tdr_wsp bl">75</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp br">7½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">463</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp">11¼</td> + <td class="tdr_wsp bl">86</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp br">4¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">⁂ 14</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1">0</td> + <td class="tdr_wsp bl">39</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp br">10½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">⁂ 22</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp">0½</td> + <td class="tdr_wsp bl">73</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp br">0½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">76</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1">7</td> + <td class="tdr_wsp bl">66</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">5</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">96</td> + <td class="tdr_wsp" rowspan="2">8</td> + <td class="tdr_ws1" rowspan="2">6</td> + <td class="tdr_wsp bl" rowspan="2">51</td> + <td class="tdr_wsp" rowspan="2">5</td> + <td class="tdr_ws1 br" rowspan="2">1</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">+ 11</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">39</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">+ 26</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">65</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">⁂ 22</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">38</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1 br">6</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">⁂ 45</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1">1</td> + <td class="tdr_wsp bl">71</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">28</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1">10</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">30</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp">8¼</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">June</td> + <td class="tdl_wsp">1868</td> + <td class="tdl_wsp">to Sept.</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">70</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp">5¾</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr> + </tbody> +</table> + +<div class="blockquot fs_90"> +<p><b><span class="smcap">Notes.</span></b>—The sign + indicates that on +those special coinages there was an actual gain by weight to the extent +specified, which will be explained on <a href="#Page_98">page 98</a>.</p> + +<p>The ⁂ is intended to draw the attention of the reader to these +figures when a little later they are explained at pages <a href="#Page_89">89</a>, +<a href="#Page_93">93</a>, <a href="#Page_94">94</a>, <a href="#Page_95">95</a>, +<a href="#Page_98">98</a>.</p> + +<p>To obtain the true amount of loss, deduct the value of the sweep +from the value of the gold lost.</p> +</div> + +<p><span class="pagenum" id="Page_91">[Pg 91]</span></p> + +<p class="center spa2"><b><span class="smcap">Return to an Order of the House of Lords<br> dated 17th February, 1870.<br> +The LORD ROSSIE.</span> No. 1.</b></p> + +<p class="f120"><b>FROM THE COINING DEPARTMENT<br> OF THE ROYAL MINT.</b></p> + +<p class="blockquot fs_90">A <span class="smcap">Statement</span> 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.</p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl"> Weight of Coinage. </th> + <th class="tdc bl br" colspan="3"> Value of Coinage. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl">351837·830</td> + <td class="tdr_wsp bl">1,369,968</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp br">0</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">3058360·186</td> + <td class="tdr_wsp bl">11,908,489</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">2726011·580</td> + <td class="tdr_wsp bl">10,614,407</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">812219·517</td> + <td class="tdr_wsp bl">3,162,579</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">2158391·456</td> + <td class="tdr_wsp bl">8,404,236</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1254703·786</td> + <td class="tdr_wsp bl">4,885,502</td> + <td class="tdr_wsp">17</td> + <td class="tdr_wsp br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">1256586·572</td> + <td class="tdr_wsp bl">4,892,833</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">736150·582</td> + <td class="tdr_wsp bl">2,866,386</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">980070·679</td> + <td class="tdr_wsp bl">3,816,150</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp br">2</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl">861205·000</td> + <td class="tdr_wsp bl">3,353,316</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">5</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdr_wsp bl">1872214·638</td> + <td class="tdr_wsp bl">7,289,935</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">2351444·336</td> + <td class="tdr_wsp bl">9,155,936</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">1807332·130</td> + <td class="tdr_wsp bl">7,037,299</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">1949438·200</td> + <td class="tdr_wsp bl">7,590,624</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">1256347·104</td> + <td class="tdr_wsp bl">4,891,901</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp br">9</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">175838·208</td> + <td class="tdr_wsp bl">684,670</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">127485·816</td> + <td class="tdr_wsp bl">496,397</td> + <td class="tdr_wsp">17</td> + <td class="tdr_wsp br">11</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869</td> + <td class="tdr_wsp bl">1270778·550</td> + <td class="tdr_wsp bl">4,948,093</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">7</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl"> Amount of <br> Waste.</th> + <th class="tdc bl br" colspan="3"> Value of Waste. </th> + <th class="tdc bl br" colspan="3"> Value of Sweep <br>recovered.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852. </td> + <td class="tdr_wsp bl">134·206</td> + <td class="tdr_wsp bl">522</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">89</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">3</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">1851·888</td> + <td class="tdr_wsp bl">7,210</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl">716</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp br">11½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">1804·559</td> + <td class="tdr_wsp bl">7,026</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1">0</td> + <td class="tdr_wsp bl">707</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp br">3½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">424·092</td> + <td class="tdr_wsp bl">1,651</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">222</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">3</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">1039·798</td> + <td class="tdr_wsp bl">4,148</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">635</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp br">1½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">581·615</td> + <td class="tdr_wsp bl">2,264</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">422</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">17·784</td> + <td class="tdr_wsp bl">69</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1">11</td> + <td class="tdr_wsp bl">192</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">16·603</td> + <td class="tdr_wsp bl">64</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1">0</td> + <td class="tdr_wsp bl">209</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">74·857</td> + <td class="tdr_wsp bl">291</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">254</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">9</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">263·568</td> + <td class="tdr_wsp bl" rowspan="2">1,026</td> + <td class="tdr_wsp" rowspan="2">5</td> + <td class="tdr_ws1" rowspan="2">4</td> + <td class="tdr_wsp bl" rowspan="2">545</td> + <td class="tdr_wsp" rowspan="2">10</td> + <td class="tdr_wsp br" rowspan="2">5½</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">!+ 27·480</td> + <td class="tdr_wsp bl">107</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1">1</td> + <td class="tdr_wsp bl">360</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">+ 47·054</td> + <td class="tdr_wsp bl">183</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">459</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">1</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">43·491</td> + <td class="tdr_wsp bl">169</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">10</td> + <td class="tdr_wsp bl">295</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">3½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">57·612</td> + <td class="tdr_wsp bl">224</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">350</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1 br">9</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">5·037</td> + <td class="tdr_wsp bl">19</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1">3</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">3·357</td> + <td class="tdr_wsp bl">13</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1">5</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869</td> + <td class="tdr_wsp bl">45·585</td> + <td class="tdr_wsp bl">177</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1">11</td> + <td class="tdr_wsp bl">538</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1 br">1</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl" colspan="3">Value of Waste<br> per £1,000,000 </th> + <th class="tdc bl br" colspan="3">Value of Sweep<br> per £1,000,000 </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852. </td> + <td class="tdr_wsp bl">381</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1">10</td> + <td class="tdr_wsp bl">65</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">3</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">605</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">60</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1 br">6</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">661</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1">7</td> + <td class="tdr_wsp bl">66</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">522</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">70</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">493</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1">11</td> + <td class="tdr_wsp bl">75</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">463</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1">11</td> + <td class="tdr_wsp bl">86</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">14</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1">0</td> + <td class="tdr_wsp bl">39</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">22</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1">1</td> + <td class="tdr_wsp bl">73</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">76</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1">7</td> + <td class="tdr_wsp bl">66</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">5</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">96</td> + <td class="tdr_wsp" rowspan="2">8</td> + <td class="tdr_ws1" rowspan="2">6</td> + <td class="tdr_wsp bl" rowspan="2">51</td> + <td class="tdr_wsp" rowspan="2">5</td> + <td class="tdr_ws1 br" rowspan="2">1</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">11</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">39</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">26</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">65</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">22</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">38</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1 br">6</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">45</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1">1</td> + <td class="tdr_wsp bl">71</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">28</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1">10</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">26</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">7</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869</td> + <td class="tdr_wsp bl">35</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1">5</td> + <td class="tdr_wsp bl">108</td> + <td class="tdr_wsp">15</td> + <td class="tdr_ws1 br">2</td> + </tr> + </tbody> +</table> + +<div class="blockquot"> +<p class="fs_90">! <i>Note.</i>—The financial years 1862/1863 and +1863/1864 exhibit a <i>gain</i> in the Coining Department.</p> + +<p class="author">C. W. FREMANTLE, <span class="smcap">Deputy-Master of +the Mint</span>.</p> + +<p><span class="smcap">Royal Mint</span>, <i>2nd March, 1870</i>. +<span class="pagenum" id="Page_92">[Pg 92]</span></p> +</div> + +<p class="f120 spa2"><b><span class="smcap">Statement of Work +Performed in the Coining Department from<br> October 2nd, 1857, to December +17th, 1857, inclusive.</span></b></p> + +<p class="center">The Coinage was completed in 53 Days.<br> The Value of the coined Gold was +£4,495,748 4<i>s.</i> 10<i>d.</i></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="3">IN ROLLING ROOM.</th> + </tr><tr class="bb"> + <th class="tdc bl br fs_120" colspan="3"><span class="smcap">Received.</span></th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="2">Weight of Gold Bars for Sovereigns</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">by Mint Office Beam</td> + <td class="tdr_wsp br">2110962·00 ozs.</td> + </tr><tr> + <td class="tdl_wsp bl" colspan="2">Weight of the same Bars</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">by Rolling Room Beam</td> + <td class="tdr_ws1 br bb">2110939·71 ” </td> + </tr><tr> + <td class="tdl_wsp bl" colspan="2">Showing a minus difference upon</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">the Mint Office weight of</td> + <td class="tdr_ws1 br bb2">22·29 ” </td> + </tr><tr> + <td class="tdl_wsp bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl br bt bb fs_120" colspan="3"><b><span class="smcap">Returned.</span></b></td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl"><b> As by Rolling <br>Room Beam.</b></td> + <td class="tdc bl br"><b>As by Mint<br> Office Beam. </b></td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">Fillets</td> + <td class="tdr_wsp bl">2016337·80</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Stopped Pots</td> + <td class="tdr_wsp bl">1256·15</td> + <td class="tdr_wsp bl br">1256·15</td> + </tr><tr> + <td class="tdl_wsp bl">Brittle Bars</td> + <td class="tdr_wsp bl">12142·36</td> + <td class="tdr_wsp bl br">12142·36</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Ends</td> + <td class="tdr_wsp bl">81207·18</td> + <td class="tdr_wsp bl br">81208·24</td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl">2110943·49</td> + <td class="tdr_wsp bb2 bl br">94606·75</td> + </tr><tr> + <td class="tdl_wsp bl bb">Deduct “received”</td> + <td class="tdr_wsp bl bb">2110939·71</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">3·78</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl br" colspan="3">The Ends were 4·49 per cent. on Bars.</td> + + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="3">IN CUTTING ROOM.</th> + </tr><tr class="bb"> + <th class="tdc bl br fs_120" colspan="3"><span class="smcap">Received.</span></th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="2">Gauged Fillets for Sovereigns</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">by Rolling Room Beam</td> + <td class="tdr_wsp br">2016337·80 ozs.</td> + </tr><tr> + <td class="tdl_wsp bl" colspan="2">Gauged Fillets for Sovereigns</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">by Cutting Room Beam</td> + <td class="tdr_ws1 br bb">2016331·10 ” </td> + </tr><tr> + <td class="tdl_wsp bl" colspan="2">Showing a minus difference upon</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">the Rolling Room weight of</td> + <td class="tdr_ws1 br bb2">6·70 ” </td> + </tr><tr> + <td class="tdl_wsp bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl br bt bb fs_120" colspan="3"><b><span class="smcap">Returned.</span></b></td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl"><b> As by Cutting <br>Room Beam.</b></td> + <td class="tdc bl br"><b>As by Mint<br> Office Beam. </b></td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">Cut Blanks</td> + <td class="tdr_wsp bl">1250996·04</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Scissel</td> + <td class="tdr_wsp bl">755829·53</td> + <td class="tdr_wsp bl br">755830·74</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Dumb Fillets</td> + <td class="tdr_wsp bl">9540·00</td> + <td class="tdr_wsp bl br">9540·00</td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl">2016365·57</td> + <td class="tdr_wsp bl br bb2">765370·74 </td> + </tr><tr> + <td class="tdl_wsp bl bb">Deduct “received”</td> + <td class="tdr_wsp bl bb">2016331·10</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">34·47</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl br" colspan="3">The Dumb Fillets were 0·45 p. c. on Bars.</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl br" colspan="3">The Scissel was<span class="ws3"> 35·80</span> + ”<span class="ws3">”</span></td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="3">IN WEIGHING ROOM.</th> + </tr><tr class="bb"> + <th class="tdc bl br fs_120" colspan="3"><span class="smcap">Received.</span></th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="2">Cut Blanks for Sovereigns</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">by Cutting Room Beam</td> + <td class="tdr_wsp br">1250996·04 ozs.</td> + </tr><tr> + <td class="tdl_wsp bl" colspan="2">Cut Blanks for Sovereigns</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">by Weighing Room Beam</td> + <td class="tdr_wsp br bb">1250989·11 ” </td> + </tr><tr> + <td class="tdl_wsp bl" colspan="2">Showing a minus difference</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">upon the Cutting Room weight of</td> + <td class="tdr_wsp br">6·93 ” </td> + </tr><tr> + <td class="tdc bl br bt bb fs_120" colspan="3"><b><span class="smcap">Returned.</span></b></td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl"><b> As by Weighing <br> Room Beam..</b></td> + <td class="tdc bl br"><b>As by Mint<br> Office Beam. </b></td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">Good Blanks</td> + <td class="tdr_wsp bl">1163502·34</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Rejected Blanks</td> + <td class="tdr_wsp bl">87488·31</td> + <td class="tdr_wsp bl br">87488·57</td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl">1250990·65</td> + <td class="tdr_wsp bl br bb2">87488·57</td> + </tr><tr> + <td class="tdl_wsp bl bb">Deduct “received”</td> + <td class="tdr_wsp bl bb">1250989·11</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">1·54</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl br" colspan="3">The Rejected was 4·14 per cent. on Bars.</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl br" colspan="3"><span class="ws4">”</span>  ” +  6·99  ”<span class="ws3">Blanks.</span></td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="3">  IN ANNEALING AND PRESS ROOMS.  </th> + </tr><tr class="bb"> + <th class="tdc bl br fs_120" colspan="3"><span class="smcap">Received.</span></th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="2">Good Blanks for Sovereigns</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">by Weighing Room Beam</td> + <td class="tdr_wsp br">1163502·34 ozs.</td> + </tr><tr> + <td class="tdl_wsp bl" colspan="2">Good Blanks for Sovereigns</td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_ws2 bl" colspan="2">by Annealing Room Beam</td> + <td class="tdr_wsp br bb">1163487·44 ” </td> + </tr><tr> + <td class="tdl_wsp bl" colspan="2">Showing a minus difference upon</td> + <td class="tdr_wsp br"> </td> + </tr><tr class="bb"> + <td class="tdl_ws2 bl" colspan="2">the Weighing Room weight of</td> + <td class="tdr_wsp br">14·90 ” </td> + </tr><tr> + <td class="tdc bl br bt bb fs_120" colspan="3"><b><span class="smcap">Returned.</span></b></td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl"><b> As by Press <br> Room Beam..</b></td> + <td class="tdc bl br"><b>As by Mint<br> Office Beam. </b></td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">Coined Sovereigns</td> + <td class="tdr_wsp bl">1154590·87</td> + <td class="tdr_wsp bl br">1154606·29</td> + </tr><tr> + <td class="tdl_wsp bl">Pyx Pieces</td> + <td class="tdr_wsp bl">1903·92</td> + <td class="tdr_wsp bl br">1909·21</td> + </tr><tr> + <td class="tdl_wsp bl">Brockages</td> + <td class="tdr_wsp bl">6926·03</td> + <td class="tdr_wsp bl br">6925·90</td> + </tr><tr> + <td class="tdl_wsp bl">One Sovereign missing.</td> + <td class="tdr_wsp bl">·25</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Loss of Weight by</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_ws2 bl">Annealing and Blanching</td> + <td class="tdr_wsp bl">57·05</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl">1163483·12</td> + <td class="tdr_wsp bb2 bl br">1163441·40</td> + </tr><tr> + <td class="tdl_wsp bl bb">Deduct “returned”</td> + <td class="tdr_wsp bl bb">1163487·44</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Loss during work</td> + <td class="tdr_wsp bl">4·32</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl br" colspan="3">The Brockages were <span class="ws2">0·33 on Bars.</span></td> + </tr><tr> + <td class="tdl_wsp bl br" colspan="3">The Coined Money was 54·79 on Rough Bars.</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl br" colspan="3">  ”<span class="ws2">”</span> + <span class="ws5"> 57·26 on Clean Bars.</span></td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bb"> + <th class="tdc" colspan="2">Paid for Wages of Men and Boys.</th> + </tr></thead> + <tbody><tr> + <td class="tdl">Rolling Fillets,  </td> + <td class="tdl">£252·402225</td> + </tr><tr> + <td class="tdl">Cutting Blanks,</td> + <td class="tdl">£260·624165</td> + </tr><tr> + <td class="tdl">Annealing Do.</td> + <td class="tdl">£145·437875</td> + </tr><tr> + <td class="tdl">Coining Do.</td> + <td class="tdl">£120·269875 = £778 14<i>s.</i> 8<i>d.</i></td> + </tr><tr> + <td class="tdl"> </td> + <td class="tdl_ws1">for £4,495,748 4<i>s.</i> 10<i>d.</i> Coined Money.</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bb"> + <th class="tdc" colspan="2">Memorandum of<br> + Coined Gold Moneys<br>delivered into Mint Office.</th> + </tr></thead> + <tbody><tr> + <td class="tdl"> </td> + <td class="tdc">Ounces.</td> + </tr><tr> + <td class="tdl">October</td> + <td class="tdl_ws2">252030·274</td> + </tr><tr> + <td class="tdl">November</td> + <td class="tdl_ws2">594084·366</td> + </tr><tr> + <td class="tdl">December</td> + <td class="tdl_ws2 bb">308491·650</td> + </tr><tr> + <td class="tdl"> </td> + <td class="tdl_ws2 bb2">1154606·290</td> + </tr> + </tbody> +</table> + +<ul class="index"> +<li class="isub4">4495748·2 : 778·7 :: 1000 : 0·173208 = 3<i>s.</i> 5½<i>d.</i></li> +<li class="isub6">4495748 : 36·64 :: 1000 : 1·955<i>d.</i></li> +<li class="isub2">The Wages paid for Melting 2,110,962 were £36·64</li> +<li class="isub6">= 1·955<i>d.</i> on each 1,000 Sovereigns coined.</li> +<li class="isub6">= 0·001955 on each Sovereign coined.</li> +<li class="isub2">1,000 Sovereigns cost 3<i>s.</i> 5½<i>d.</i> to coin</li> +<li class="isub6">= 0·04156992 of a Penny for each Coin.</li> +</ul> + +<p class="spb2 no-wrap"><i>To the</i> <span class="smcap">Master of the Mint</span>. +<span class="ws3">GEORGE F. ANSELL, <i>January 20th, 1858</i>.</span></p> + +<p><span class="pagenum" id="Page_93">[Pg 93]</span> +Reference to the table at <a href="#Page_84">page 84</a> 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:—</p> + +<div class="blockquot fs_90"> +<p class="author">“<span class="smcap">Royal Mint</span>, <i>9th January, 1861</i>.</p> + +<p>“<span class="smcap">My Dear Sir.</span></p> + +<p>“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.</p> + +<p>“The pyx pence received from Mr. Gausby to-day appear to be of fair +quality. We should like to have a ton or two.</p> + +<p class="author">“Very truly yours,<span class="ws3"> </span><br> +“<span class="smcap">Tho. Graham.</span></p> +<p>“<span class="smcap">G. F. Ansell, Esquire</span>,</p> +<p class="no-indent">“At Messrs. Heaton & Sons, Birmingham.”</p> +</div> + +<p>To demonstrate, then, the correctness of the theorem I had proposed, +it will be necessary to refer once more to the table on <a href="#Page_90">page 90</a>, +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<i>s.</i>, and the sweep recovered in that year was sold at +the rate of £39 7<i>s.</i> 10½<i>d.</i> for each million coined. If, +therefore, the proportionate loss be deducted from the value of sweep +sold, we have for the first⁠<a id="FNanchor_56_56" href="#Footnote_56_56" class="fnanchor">[56]</a> +time in the experience of coiners a <span class="allsmcap">GAIN BY COINING</span> +to the extent of £25 4<i>s.</i> 10½<i>d.</i> on each million coined, +thus approaching to the calculated gain of £59 4<i>s.</i>, while in the +next financial year it will be observed that there was a loss of £22 +11<i>s.</i> 0½<i>d.</i>, with a value of sweep recovered £73 4<i>s.</i> 0½<i>d.</i>, +<span class="pagenum" id="Page_94">[Pg 94]</span> +giving an absolute gain of £50 13<i>s.</i>, 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,⁠<a id="FNanchor_57_57" href="#Footnote_57_57" class="fnanchor">[57]</a> +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.</p> + +<p>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<i>s.</i> 7<i>d.</i>, the sweep selling for £66 +12<i>s.</i> 5<i>d.</i>, showing an absolute loss of £9 15<i>s.</i> +2<i>d.</i> It will now be necessary to refer to a statement of losses +and gains upon each <i>quarter</i>, because the accounts were not +officially balanced, the next statement being for the years April, +1860, to March, 1862,⁠<a id="FNanchor_58_58" href="#Footnote_58_58" class="fnanchor">[58]</a> + but the quarterly account below⁠<a id="FNanchor_59_59" href="#Footnote_59_59" class="fnanchor">[59]</a> +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. +<span class="pagenum" id="Page_95">[Pg 95]</span></p> + +<p class="center spa2"><b>STATEMENT SHOWING THE LOSSES AND GAINS<br> UPON EACH QUARTER,<br> +FROM JUNE, 1856, TO SEPTEMBER, 1868.</b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="2" rowspan="2"> Quarter ending:— </th> + <th class="tdc bl" colspan="2"><span class="smcap">Gold.</span></th> + <th class="tdc bl br" colspan="2"><span class="smcap">Silver.</span></th> + </tr><tr class="bb"> + <th class="tdc bl">Loss.</th> + <th class="tdc bl">Gain.</th> + <th class="tdc bl">Loss.</th> + <th class="tdc bl br">Gain.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="2"> </td> + <td class="tdc bl">  Ounces.  </td> + <td class="tdc bl">  Ounces.  </td> + <td class="tdc bl">  Ounces.  </td> + <td class="tdc bl br"> Ounces. </td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc"> 1856 </td> + <td class="tdc bl">417·070</td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdc bl br" rowspan="18"> </td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">147·325</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">268·460</td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdc"> </td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">9·550</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1857</td> + <td class="tdc bl">17·220</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">690·314</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">94·026</td> + </tr><tr> + <td class="tdl_wsp bl">Sept. 30th.</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">315·903</td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">21·316</td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl"> </td> + </tr><tr> + <td class="tdl_wsp bl">March 30th,</td> + <td class="tdc">1858</td> + <td class="tdc bl">—</td> + <td class="tdc bl">4·673</td> + <td class="tdr_wsp bl">500·335</td> + </tr><tr> + <td class="tdl_wsp bl">Sept. 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">315·114</td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">211·250</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1859</td> + <td class="tdc bl">16·603</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">259·082</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">9·417</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">185·358</td> + </tr><tr> + <td class="tdl_wsp bl">Sept. 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">240·890</td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">403·593</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1860</td> + <td class="tdc bl">65·444⁠<a id="FNanchor_60_60" href="#Footnote_60_60" class="fnanchor">[60]</a></td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">69·096</td> + </tr><tr> + <td class="tdl_wsp bl">Sept. 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">427·238</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">1861</td> + <td class="tdc bl">105·823⁠<a id="FNanchor_61_61" href="#Footnote_61_61" class="fnanchor">[61]</a></td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl"> </td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">606·765</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1862</td> + <td class="tdc bl">157·745⁠<a id="FNanchor_62_62" href="#Footnote_62_62" class="fnanchor">[62]</a></td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">—</td> + <td class="tdr_wsp bl br">2·501</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">⁠<a id="FNanchor_63_63" href="#Footnote_63_63" class="fnanchor">[63]</a>17·942</td> + <td class="tdr_wsp bl">170·965</td> + <td class="tdr_wsp bl br" rowspan="22"> </td> + </tr><tr> + <td class="tdl_wsp bl">August 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">5·671</td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl"> </td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">5·584</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">132·984</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1863</td> + <td class="tdc bl">—</td> + <td class="tdc bl">20·793</td> + <td class="tdr_wsp bl"> </td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">458·672</td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">13·767</td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl"> </td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1864</td> + <td class="tdc bl">—</td> + <td class="tdc bl">60·821</td> + <td class="tdr_wsp bl">48·845</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">13·843</td> + <td class="tdr_wsp bl">9·042</td> + </tr><tr> + <td class="tdl_wsp bl">Sept. 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">783·347</td> + </tr><tr> + <td class="tdl_wsp bl">Dec. 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">39·679</td> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl"> </td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1865</td> + <td class="tdc bl">17·660</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">147·780</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">480·346</td> + </tr><tr> + <td class="tdl_wsp bl">August 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">1·020</td> + <td class="tdr_wsp bl">195·546</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1866</td> + <td class="tdc bl">58·632</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">230·515</td> + </tr><tr> + <td class="tdl_wsp bl">May 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">5·037</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">136·014</td> + </tr><tr> + <td class="tdl_wsp bl">Sept. 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">631·037</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1867</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">260·352</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">3·562</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">158·951</td> + </tr><tr> + <td class="tdl_wsp bl">August 31st,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl"> 0·205</td> + <td class="tdr_wsp bl">43·033</td> + </tr><tr> + <td class="tdl_wsp bl">March 31st,</td> + <td class="tdc">1868</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">271·540</td> + </tr><tr> + <td class="tdl_wsp bl">June 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">—</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">222·545</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Sept. 30th,</td> + <td class="tdc">”</td> + <td class="tdc bl">19·873</td> + <td class="tdc bl">—</td> + <td class="tdr_wsp bl">19·897</td> + </tr> + </tbody> +</table> + +<p>These are grave charges, but an inquiry could not fail to +establish their truthfulness. To return, then, to the table at +<a href="#Page_90">page 90</a>, it will be observed that the loss of +1859-60 increased in the years 1860-62 to £45 3<i>s.</i> 5<i>d.</i>; +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<i>s.</i> 8<i>d.</i>, which, with the +sweep, made £50 10<i>s.</i> 7<i>d.</i>, and this increased in 1863-64 +to £91 5<i>s.</i> 1<i>d.</i> +<span class="pagenum" id="Page_96">[Pg 96]</span></p> + +<p class="f120"><b><span class="smcap">Statement of Losses Incurred and<br> of Sweep Recovered.</span></b></p> +<p class="center"><span class="smcap">This refers wholly to Gold in the Melting Department.</span></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl">Weight of<br> Coinage.</th> + <th class="tdc bl br" colspan="3">Value of Coinage.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl">351837·830</td> + <td class="tdr_wsp bl">1,369,968</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl"> 3058360·186</td> + <td class="tdr_wsp bl"> 11,908,489</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">5½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">2726011·580</td> + <td class="tdr_wsp bl">10,614,407</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp br">9¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">812219·517</td> + <td class="tdr_wsp bl">3,162,579</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">10½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">2158391·456</td> + <td class="tdr_wsp bl">8,404,236</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">7½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1254703·786</td> + <td class="tdr_wsp bl">4,885,502</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">1256586·572</td> + <td class="tdr_wsp bl">4,892,833</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">736150·582</td> + <td class="tdr_wsp bl">2,866,386</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp br">6¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">980070·679</td> + <td class="tdr_wsp bl">3,816,150</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl">861205·000</td> + <td class="tdr_wsp bl">3,353,316</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdr_wsp bl">1872214·638</td> + <td class="tdr_wsp bl">7,289,935</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">2351444·336</td> + <td class="tdr_wsp bl">9,155,936</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">1807332·130</td> + <td class="tdr_wsp bl">7,037,299</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">1949438·200</td> + <td class="tdr_wsp bl">7,590,624</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">1256347·104</td> + <td class="tdr_wsp bl">4,891,901</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">9</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">175838·208</td> + <td class="tdr_wsp bl">684,670</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">5</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">109580·129</td> + <td class="tdr_wsp bl">426,677</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp br">1¾</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl">Weight of<br> Lost Metal. </th> + <th class="tdc bl" colspan="3">Value of<br>Lost Metal.</th> + <th class="tdc bl br" colspan="3"> Value of Sweep. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl">91·456</td> + <td class="tdr_wsp bl">356</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">1½</td> + <td class="tdr_wsp bl">133</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">1332·474</td> + <td class="tdr_wsp bl"> 5,188</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp br">4¾</td> + <td class="tdr_wsp bl">708</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">728·088</td> + <td class="tdr_wsp bl">2,834</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">10½</td> + <td class="tdr_wsp bl">709</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">8¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">223·811</td> + <td class="tdr_wsp bl">871</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">3¼</td> + <td class="tdr_wsp bl">209</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">4¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">867·277</td> + <td class="tdr_wsp bl">3,376</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">2¼</td> + <td class="tdr_wsp bl">805</td> + <td class="tdr_wsp">5</td> + <td class="tdr_wsp br">4¾></td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">515·298</td> + <td class="tdr_wsp bl">2,006</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp br">9¾</td> + <td class="tdr_wsp bl">469</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">5¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">275·452</td> + <td class="tdr_wsp bl">1,072</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">10</td> + <td class="tdr_wsp bl">262</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1 br">5¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">248·804</td> + <td class="tdr_wsp bl">969</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp br">7¼</td> + <td class="tdr_wsp bl">231</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">1½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">259·069</td> + <td class="tdr_wsp bl">1,008</td> + <td class="tdr_wsp">15</td> + <td class="tdr_ws1 br">0</td> + <td class="tdr_wsp bl">240</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">3</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">17·668</td> + <td class="tdr_wsp bl" rowspan="2">3,183</td> + <td class="tdr_wsp" rowspan="2">15</td> + <td class="tdr_ws1 br" rowspan="2">11</td> + <td class="tdr_wsp bl" rowspan="2">729</td> + <td class="tdr_wsp" rowspan="2">19</td> + <td class="tdr_wsp br" rowspan="2">10½</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">636·395</td> + <td class="tdr_wsp bl">2,477</td> + <td class="tdr_ws1">19</td> + <td class="tdr_wsp br">3</td> + <td class="tdr_wsp bl">590</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">629·815</td> + <td class="tdr_wsp bl">2,452</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">10</td> + <td class="tdr_wsp bl">507</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">464·080</td> + <td class="tdr_wsp bl">1,807</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">8</td> + <td class="tdr_wsp bl">509</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">585·622</td> + <td class="tdr_wsp bl">2,280</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1 br">4</td> + <td class="tdr_wsp bl">535</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">37·440</td> + <td class="tdr_wsp bl">145</td> + <td class="tdr_wsp">15</td> + <td class="tdr_ws1 br">0</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc bl">—</td> + <td class="tdc bl" colspan="3">—</td> + <td class="tdr_wsp bl">71</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">6</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl" colspan="3">Value of<br> Lost Metal<br> per Million.</th> + <th class="tdc bl br" colspan="3"> Value of Sweep<br> per Million.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl">259</td> + <td class="tdr_wsp">18</td> + <td class="tdr_wsp br">9½</td> + <td class="tdr_wsp bl">97</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">9¼</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">435</td> + <td class="tdr_wsp">13</td> + <td class="tdr_wsp br">7¾</td> + <td class="tdr_wsp bl">59</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">10¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">267</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">9¼</td> + <td class="tdr_wsp bl">66</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">275</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">1</td> + <td class="tdr_wsp bl">66</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">5½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">401</td> + <td class="tdr_wsp">16</td> + <td class="tdr_wsp br">3¾</td> + <td class="tdr_wsp bl">95</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">410</td> + <td class="tdr_wsp">13</td> + <td class="tdr_wsp br">10¼</td> + <td class="tdr_wsp bl">96</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp br">3¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">‡ 219</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp br">1¼</td> + <td class="tdr_wsp bl">‡ 53</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">8½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl"> ‡ 337</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">7</td> + <td class="tdr_wsp bl"> ‡ 80</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp br">6¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">264</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">8</td> + <td class="tdr_wsp bl">63</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">0</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">297</td> + <td class="tdr_wsp" rowspan="2">10</td> + <td class="tdr_ws1 br" rowspan="2">1</td> + <td class="tdr_wsp bl" rowspan="2">68</td> + <td class="tdr_wsp" rowspan="2">11</td> + <td class="tdr_ws1 br" rowspan="2">9</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">270</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">9</td> + <td class="tdr_wsp bl">64</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">348</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">6</td> + <td class="tdr_wsp bl">72</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">238</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">2</td> + <td class="tdr_wsp bl">67</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">466</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">6</td> + <td class="tdr_wsp bl">109</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">212</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1 br">6</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc bl" colspan="3">—</td> + <td class="tdr_wsp bl">167</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp br">6¾</td> + </tr> + </tbody> +</table> + +<p class="blockquot fs_90">This mark <b>(‡)</b> is intended to attract +the attention when at pages <a href="#Page_98">98</a>, <a href="#Page_103">103</a>, +these figures are discussed. To obtain the true amount of loss, deduct +the value of the sweep from the value of the gold lost. +<span class="pagenum" id="Page_97">[Pg 97]</span></p> + +<p class="f120 spa2"><b><span class="smcap">Return to an Order of the House of Lords,<br> +dated 17th February, 1870.<br> The LORD ROSSIE. No. 2.</span></b></p> + +<p class="center">FROM THE MELTING DEPARTMENT OF THE ROYAL MINT.</p> + +<div class="blockquot"> +<p class="neg-indent fs_90"> +A <span class="smcap">Statement</span> 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.</p> +</div> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl">Weight of<br> Coinage.</th> + <th class="tdc bl br" colspan="3">Value of Coinage.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl">351837·830</td> + <td class="tdr_wsp bl">1,369,968</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl"> 3058360·186</td> + <td class="tdr_wsp bl"> 11,908,489</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">2726011·580</td> + <td class="tdr_wsp bl">10,614,407</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">812219·517</td> + <td class="tdr_wsp bl">3,162,579</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">2158391·456</td> + <td class="tdr_wsp bl">8,404,236</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1254703·786</td> + <td class="tdr_wsp bl">4,885,502</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">1256586·572</td> + <td class="tdr_wsp bl">4,892,833</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">736150·582</td> + <td class="tdr_wsp bl">2,866,386</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">980070·679</td> + <td class="tdr_wsp bl">3,816,150</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl">861205·000</td> + <td class="tdr_wsp bl">3,353,316</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdr_wsp bl">1872214·638</td> + <td class="tdr_wsp bl">7,289,935</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">2351444·336</td> + <td class="tdr_wsp bl">9,155,936</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">1807332·130</td> + <td class="tdr_wsp bl">7,037,299</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">1949438·200</td> + <td class="tdr_wsp bl">7,590,624</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">1256347·104</td> + <td class="tdr_wsp bl">4,891,901</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">9</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">175838·208</td> + <td class="tdr_wsp bl">684,670</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">127485·816</td> + <td class="tdr_wsp bl">496,397</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1 br">11</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869</td> + <td class="tdr_wsp bl">1270778·550</td> + <td class="tdr_wsp bl">4,948,093</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">7</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl"> Amount of <br> Waste.</th> + <th class="tdc bl" colspan="3"> Value of Waste. </th> + <th class="tdc bl br" colspan="3"> Value of Sweep <br>recovered.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl">91·456</td> + <td class="tdr_wsp bl">356</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">2</td> + <td class="tdr_wsp bl">133</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">1332·474</td> + <td class="tdr_wsp bl">5,188</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">5</td> + <td class="tdr_wsp bl">708</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">728·088</td> + <td class="tdr_wsp bl">2,834</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">11</td> + <td class="tdr_wsp bl">709</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">8¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">223·811</td> + <td class="tdr_wsp bl">871</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">3</td> + <td class="tdr_wsp bl">209</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">4¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">867·277</td> + <td class="tdr_wsp bl">3,376</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">2</td> + <td class="tdr_wsp bl">805</td> + <td class="tdr_wsp">5</td> + <td class="tdr_wsp br">4¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">515·298</td> + <td class="tdr_wsp bl">2,006</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1 br">10</td> + <td class="tdr_wsp bl">469</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">1¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">275·452</td> + <td class="tdr_wsp bl">1,072</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp br">10</td> + <td class="tdr_wsp bl">262</td> + <td class="tdr_wsp">18</td> + <td class="tdr_wsp br">5¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">248·804</td> + <td class="tdr_wsp bl">968</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp br">7</td> + <td class="tdr_wsp bl">281</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">1½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">259·069</td> + <td class="tdr_wsp bl">1,008</td> + <td class="tdr_wsp">15</td> + <td class="tdr_ws1 br">0</td> + <td class="tdr_wsp bl">240</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">3</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">817·668</td> + <td class="tdr_wsp bl" rowspan="2">3,183</td> + <td class="tdr_wsp" rowspan="2">15</td> + <td class="tdr_ws1 br" rowspan="2">11</td> + <td class="tdr_wsp bl" rowspan="2">729</td> + <td class="tdr_wsp" rowspan="2">19</td> + <td class="tdr_wsp br" rowspan="2">10½</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">636·395</td> + <td class="tdr_wsp bl">2,477</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">3</td> + <td class="tdr_wsp bl">590</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">629·815</td> + <td class="tdr_wsp bl">2,452</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">10</td> + <td class="tdr_wsp bl">507</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">464·080</td> + <td class="tdr_wsp bl">1,807</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">3</td> + <td class="tdr_wsp bl">509</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">585·622</td> + <td class="tdr_wsp bl">2,280</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1 br">4</td> + <td class="tdr_wsp bl">535</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">37·440</td> + <td class="tdr_wsp bl">145</td> + <td class="tdr_wsp">15</td> + <td class="tdr_ws1 br">8</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">54·460</td> + <td class="tdr_wsp bl">212</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">0</td> + <td class="tdr_wsp bl">71</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">6</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869</td> + <td class="tdr_wsp bl">701·084</td> + <td class="tdr_wsp bl">2,729</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">11</td> + <td class="tdr_wsp bl">788</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1 br">4</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl" colspan="3">Value of Waste.<br> per £1,000,000. </th> + <th class="tdc bl br" colspan="3">Value of Sweep<br> per £1,000,000. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Nov.</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl">259</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1 br">10</td> + <td class="tdr_wsp bl">97</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">9</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">435</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1 br">8</td> + <td class="tdr_wsp bl">59</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">267</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">9</td> + <td class="tdr_wsp bl">66</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">275</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">1</td> + <td class="tdr_wsp bl">66</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">6</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">401</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">4</td> + <td class="tdr_wsp bl">95</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">410</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1 br">10</td> + <td class="tdr_wsp bl">96</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">3</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">219</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">1</td> + <td class="tdr_wsp bl">53</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">337</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">7</td> + <td class="tdr_wsp bl">80</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">6</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">264</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">8</td> + <td class="tdr_wsp bl">63</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">0</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">297</td> + <td class="tdr_wsp" rowspan="2">10</td> + <td class="tdr_ws1 br" rowspan="2">1</td> + <td class="tdr_wsp bl" rowspan="2">68</td> + <td class="tdr_wsp" rowspan="2">11</td> + <td class="tdr_ws1 br" rowspan="2">9</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">270</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">9</td> + <td class="tdr_wsp bl">64</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">348</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">6</td> + <td class="tdr_wsp bl">72</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">238</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">2</td> + <td class="tdr_wsp bl">67</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">466</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">6</td> + <td class="tdr_wsp bl">109</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">212</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1 br">6</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">427</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">6</td> + <td class="tdr_wsp bl">144</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">9</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869</td> + <td class="tdr_wsp bl">551</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1 br">4</td> + <td class="tdr_wsp bl">159</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">6</td> + </tr><tr> + <td class="tdr_wsp" colspan="10">C. W. FREMANTLE, DEPUTY-MASTER OF THE MINT.</td> + </tr><tr> + <td class="tdl_wsp" colspan="10">ROYAL MINT, _2nd March_, 1870.</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_98">[Pg 98]</span> +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<a id="FNanchor_64_64" href="#Footnote_64_64" class="fnanchor">[64]</a> +became £22 6<i>s.</i> 2<i>d.</i>, the sweep selling for £38 18<i>s.</i> +6<i>d.</i>, giving a gain of £16 12<i>s.</i> 4<i>d.</i> only; in +the next year, a gain of £25 14<i>s.</i> 7<i>d.</i>; and it was now +determined, notwithstanding a written protest, that the sweep and +<i>scrap</i> were not worth collecting, so they were lost. The next two +years exhibit absolute losses of £28 12<i>s.</i> 10<i>d.</i> and £30 +12<i>s.</i> 8½<i>d.</i> 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<i>s.</i> 5¾<i>d.</i> 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<i>s.</i> 8¾<i>d.</i> per million coined, when, as was admittedly +the case, the gold scissel was saturated to dropping with oil. 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.</p> + +<p>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 <i>loss</i>, 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,⁠<a id="FNanchor_65_65" href="#Footnote_65_65" class="fnanchor">[65]</a> +the <i>gain</i> of £25 4<i>s.</i> 10½<i>d.</i> occurred in the coining +department, so far from there being a <span class="allsmcap">CORRESPONDING LOSS</span> +in the melting-house, that which had averaged £280 7<i>s.</i> 8¼<i>d.</i>, +fell to £165 9<i>s.</i> 4¾<i>d.</i>,—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<i>s.</i>, 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<i>s.</i> 0¾<i>d.</i>,⁠<a id="FNanchor_66_66" href="#Footnote_66_66" class="fnanchor">[66]</a> +or still below the old average; whereas, if from this period the loss be estimated, +<span class="pagenum" id="Page_99">[Pg 99]</span> +it will be found that its average is £212 6<i>s.</i> 1<i>d.</i> per +million coined, as against £280 7<i>s.</i> 8¼<i>d.</i>, or a clear +saving of £68 1<i>s.</i> 7<i>d.</i> effected by lessening the amount +of oil on the scissel (<a href="#Page_87">explained at page 87</a>); +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<i>s.</i> +7<i>d.</i>, making together £562 1<i>s.</i> 7<i>d.</i> 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.</p> + +<p>Thus far I have considered the rate of loss at a period when such +loss was deemed to be <i>necessary</i>; its reduction when it was +demonstrated to be <i>unnecessary</i>, as resulting from preventible +causes, and, in continuation, the means whereby <i>loss should be +prevented to the establishment of the absolute profit</i>, if a correct +system be established throughout the Mint. I now proceed to show the +re-establishment of the old system of <span class="allsmcap">UNNECESSARY LOSS</span>—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 <a href="#Page_7">page 7</a>, “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.⁠<a id="FNanchor_67_67" href="#Footnote_67_67" class="fnanchor">[67]</a> +Mr. Roberts says: “In the English Mint the amount of loss on gold by melting +<span class="pagenum" id="Page_100">[Pg 100]</span> +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.</p> + +<p>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 <a href="#Page_91">91</a>, <a href="#Page_97">97</a>, +opposite the tables obtained from the same source whence these returns +were made. By the return (<a href="#Page_97">see page 97</a>) the Mint +Authorities clearly admit that whereas the loss by melting was in +1866-67 only £212 18<i>s.</i> 6<i>d.</i>, it became, in 1867-68, £283 +1<i>s.</i> 9<i>d.</i>, and increased to £392 6<i>s.</i> 10<i>d.</i> +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<i>s.</i> 5<i>d.</i> 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 <a href="#Page_101">page 101</a> 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<i>s.</i> 4<i>d.</i>, for 1867-68 +£309 8<i>s.</i> 4<i>d.</i>, and for 1868-69 £319 9<i>s.</i> 1<i>d.</i>, +or a steadily increasing amount, as will be seen subsequently on +<a href="#Page_104">page 104</a>.</p> + +<p>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<a id="FNanchor_68_68" href="#Footnote_68_68" class="fnanchor">[68]</a> +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 <i>omitted</i> +<span class="pagenum" id="Page_101">[Pg 101]</span> +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 +(<a href="#Page_102">see page 102</a>) 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<i>s.</i> 4<i>d.</i>, 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!!!</p> + +<p>While it is the opinion of the Government that <span class="allsmcap">LOSS +IS REASONABLE</span>, 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 <a href="#Page_91">91</a>, +<a href="#Page_97">97</a>.</p> + +<div class="blockquot spa2"> +<p class="neg-indent"><b><span class="smcap">Statement</span> 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 <i>Lord +Kinnaird</i> moved.</b></p> +</div> + +<p class="center"><span class="smcap">Average Rate for Each Million Coined.</span></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Date.<br> Financial Year. </th> + <th class="tdc bl" colspan="3">Ultimate <i>Loss</i> by<br> Coining £1,000,000 <br>Gold.</th> + <th class="tdc bl br" colspan="3">Ultimate <i>Gain</i> by<br> Coining £1,000,000 <br>Gold.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdc bl">1851-1852</td> + <td class="tdr_wsp bl">315</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1 br">7</td> + <td class="tdr_ws1 bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1852-1853</td> + <td class="tdr_wsp bl">545</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">10</td> + <td class="tdr_ws1 bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1853-1854</td> + <td class="tdr_wsp bl">595</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">9</td> + <td class="tdr_ws1 bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1854-1855</td> + <td class="tdr_wsp bl">451</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1 br">9</td> + <td class="tdr_ws1 bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1855-1856</td> + <td class="tdr_wsp bl">418</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">3</td> + <td class="tdr_ws1 bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1856-1857</td> + <td class="tdr_wsp bl">377</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">6</td> + <td class="tdr_ws1 bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1857-1858</td> + <td class="tdr_ws1 bl" colspan="3"> </td> + <td class="tdr_wsp bl">25</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">1858-1859</td> + <td class="tdr_ws1 bl" colspan="3"> </td> + <td class="tdr_wsp bl">50</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdc bl">1859-1860</td> + <td class="tdr_wsp bl">9</td> + <td class="tdr_wsp">15</td> + <td class="tdr_ws1 br">2</td> + <td class="tdr_ws1 bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1860-1862</td> + <td class="tdr_wsp bl">45</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1 br">5</td> + <td class="tdr_ws1 bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1862-1863</td> + <td class="tdr_ws1 bl" colspan="3"> </td> + <td class="tdr_wsp bl">51</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">3</td> + </tr><tr> + <td class="tdc bl">1863-1864</td> + <td class="tdr_ws1 bl" colspan="3"> </td> + <td class="tdr_wsp bl">91</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1 br">1</td> + </tr><tr> + <td class="tdc bl">1864-1865</td> + <td class="tdr_ws1 bl" colspan="3"> </td> + <td class="tdr_wsp bl">16</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">1865-1866</td> + <td class="tdr_ws1 bl" colspan="3"> </td> + <td class="tdr_wsp bl">25</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">1866-1867</td> + <td class="tdr_wsp bl">28</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">10</td> + <td class="tdr_ws1 bl br" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1867-1868</td> + <td class="tdr_wsp bl">26</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">7</td> + <td class="tdr_ws1 bl br" colspan="3"> </td> + </tr><tr class="bb"> + <td class="tdc bl">1868-1869</td> + <td class="tdr_ws1 bl" colspan="3"> </td> + <td class="tdr_wsp bl">72</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1 br">9</td> + </tr> + </tbody> +</table> +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Date.<br> Financial Year. </th> + <th class="tdc bl" colspan="3">Ultimate <i>Loss</i> by<br>Melting Ingots, &c.<br> for £1,000,000 Gold. </th> + <th class="tdc bl br" colspan="3">Ultimate <i>Loss</i> by<br> both Operations. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdc bl">1851-1852</td> + <td class="tdr_wsp bl">162</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1">1</td> + <td class="tdr_wsp bl">478</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">1852-1853</td> + <td class="tdr_wsp bl">376</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl">921</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">1853-1854</td> + <td class="tdr_wsp bl">200</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1">11</td> + <td class="tdr_wsp bl">795</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">1854-1855</td> + <td class="tdr_wsp bl">209</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1">7</td> + <td class="tdr_wsp bl">661</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">1855-1856</td> + <td class="tdr_wsp bl">306</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1">0</td> + <td class="tdr_wsp bl">724</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">3</td> + </tr><tr> + <td class="tdc bl">1856-1857</td> + <td class="tdr_wsp bl">314</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1">7</td> + <td class="tdr_wsp bl">691</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">1</td> + </tr><tr> + <td class="tdc bl">1857-1858</td> + <td class="tdr_wsp bl">165</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1">5</td> + <td class="tdr_wsp bl">140</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">1858-1859</td> + <td class="tdr_wsp bl">257</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1">1</td> + <td class="tdr_wsp bl">206</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdc bl">1859-1860</td> + <td class="tdr_wsp bl">201</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">210</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">1860-1862</td> + <td class="tdr_wsp bl">228</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">274</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">9</td> + </tr><tr> + <td class="tdc bl">1862-1863</td> + <td class="tdr_wsp bl">206</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl">155</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1 br">6</td> + </tr><tr> + <td class="tdc bl">1863-1864</td> + <td class="tdr_wsp bl">276</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1">1</td> + <td class="tdr_wsp bl">185</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">1864-1865</td> + <td class="tdr_wsp bl">170</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl">164</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdc bl">1865-1866</td> + <td class="tdr_wsp bl">356</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">330</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">9</td> + </tr><tr> + <td class="tdc bl">1866-1867</td> + <td class="tdr_wsp bl">212</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">241</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">1867-1868</td> + <td class="tdr_wsp bl">283</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl">309</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1 br">4</td> + </tr><tr class="bb"> + <td class="tdc bl">1868-1869</td> + <td class="tdr_wsp bl">392</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">10</td> + <td class="tdr_wsp bl">319</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">1</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_102">[Pg 102]</span></p> + +<p class="f120"><b><span class="smcap">Return from the Royal Mint to an Order<br> +of the House of Lords,<br> dated 17th February, 1870.<br> The LORD ROSSIE.</span></b></p> + +<div class="blockquot fs_90"> +<p class="neg-indent">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.</p> +</div> + +<table class="spb1 spa2"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="2">Date of Payment.</th> + <th class="tdc bl">Period during which<br>Waste occurred.</th> + <th class="tdc bl" colspan="3">Amount of<br> Cheque.</th> + <th class="tdc bl br" colspan="3"> Rate of Waste <br>per Million.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">1852,</td> + <td class="tdl_wsp">March 31st</td> + <td class="tdl_wsp bl">From 11th July 1851 to 31st March 1852</td> + <td class="tdr_wsp bl">890</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1">5</td> + <td class="tdr_wsp bl">649</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">August 26th</td> + <td class="tdl_wsp bl">From 1st April to 30th June 1852</td> + <td class="tdr_wsp bl">1,926</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1">5</td> + <td class="tdr_wsp bl">951</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">December 6th</td> + <td class="tdl_wsp bl">From 1st July to 30th September 1852</td> + <td class="tdr_wsp bl">2,051</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl">882</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1853,</td> + <td class="tdl_wsp">June 17th</td> + <td class="tdl_wsp bl">From 1st October to 31st December 1852</td> + <td class="tdr_wsp bl">3,209</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">995</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">July 8th</td> + <td class="tdl_wsp bl">From 1st January to 31st March 1853</td> + <td class="tdr_wsp bl">5,270</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">1,132</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">September 30th</td> + <td class="tdl_wsp bl">From 1st April to 30th June 1853</td> + <td class="tdr_wsp bl">4,564</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1">0</td> + <td class="tdr_wsp bl">1,026</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">December 30th</td> + <td class="tdl_wsp bl">From 1st July to 30th September 1853</td> + <td class="tdr_wsp bl">1,147</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">1,112</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1854,</td> + <td class="tdl_wsp">August 30th</td> + <td class="tdl_wsp bl">From 1st October 1853 to 30th June 1854</td> + <td class="tdr_wsp bl">4,583</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1">0</td> + <td class="tdr_wsp bl">878</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1856,</td> + <td class="tdl_wsp">May 2nd</td> + <td class="tdl_wsp bl">From 1st July 1854 to 31st December 1855</td> + <td class="tdr_wsp bl">8,685</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">895</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1857,</td> + <td class="tdl_wsp">June 12th</td> + <td class="tdl_wsp bl">From 1st January 1856 to 30th May 1857</td> + <td class="tdr_wsp bl">5,265</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1">0</td> + <td class="tdr_wsp bl">803</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1858,</td> + <td class="tdl_wsp">May 5th</td> + <td class="tdl_wsp bl">From 1st June 1857 to 31st March 1858</td> + <td class="tdr_wsp bl">1,110</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1">7</td> + <td class="tdr_wsp bl">230</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1860,</td> + <td class="tdl_wsp">March 12th</td> + <td class="tdl_wsp bl">From 1st April 1858 to 30th June 1859</td> + <td class="tdr_wsp bl">1,282</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1">7</td> + <td class="tdr_wsp bl">360</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">June 27th</td> + <td class="tdl_wsp bl">From 1st July 1859 to 31st March 1860</td> + <td class="tdr_wsp bl">1,084</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">347</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1862,</td> + <td class="tdl_wsp">August 29th</td> + <td class="tdl_wsp bl">From 1st April 1860 to 31st August 1862</td> + <td class="tdr_wsp bl">4,272</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1">7</td> + <td class="tdr_wsp bl">389</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1863,</td> + <td class="tdl_wsp">March 30th</td> + <td class="tdl_wsp bl">From 1st September 1862 to 31st December 1862</td> + <td class="tdr_wsp bl">1,766</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">350</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">June 3rd</td> + <td class="tdl_wsp bl">From 1st January to 31st March 1863</td> + <td class="tdr_wsp bl">606</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">161</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1864,</td> + <td class="tdl_wsp">September 6th</td> + <td class="tdl_wsp bl">From 1st April 1863 to 31st July 1864</td> + <td class="tdr_wsp bl">2,584</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1">11</td> + <td class="tdr_wsp bl">281</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1865,</td> + <td class="tdl_wsp">March 29th</td> + <td class="tdl_wsp bl">From 1st August 1864 to 31st December 1864</td> + <td class="tdr_wsp bl">1,320</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl">419</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">October 19th</td> + <td class="tdl_wsp bl">From 1st January to 30th September 1865</td> + <td class="tdr_wsp bl">438</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">169</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1866,</td> + <td class="tdl_wsp">July 4th</td> + <td class="tdl_wsp bl">From 1st October 1865 to 30th June 1866</td> + <td class="tdr_wsp bl">2,633</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">485</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1867,</td> + <td class="tdl_wsp">December 12th</td> + <td class="tdl_wsp bl">From 1st July 1866 to 30th November 1867</td> + <td class="tdr_wsp bl">227</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1">20</td> + <td class="tdr_wsp bl">457</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdl_wsp bl">1869,</td> + <td class="tdl_wsp">November 30th⁠<a id="FNanchor_69_69" href="#Footnote_69_69" class="fnanchor">[69]</a></td> + <td class="tdl_wsp bl">From 1st December 1867 to 30th November 1869</td> + <td class="tdr_wsp bl bb">4,162</td> + <td class="tdr_wsp bb">1</td> + <td class="tdr_ws1 bb">0</td> + <td class="tdr_wsp bl">461</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdl_wsp"> </td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl">£ 59,084</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdr_ws1 br"> </td> + </tr><tr> + <td class="tdr_wsp" colspan="9">C. W. FREMANTLE, <span class="smcap">Deputy-Master and Comptroller.</span></td> + </tr><tr> + <td class="tdl_wsp" colspan="9"><span class="smcap">Royal Mint</span>, <i>2nd March, 1870</i>.</td> + </tr> + </tbody> +</table> + + +<p><span class="pagenum" id="Page_103">[Pg 103]</span> +In this table (<a href="#Page_101">page 101</a>) 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 (<a href="#Page_102">page 102</a>) 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.</p> + +<p>If this table (<a href="#Page_101">page 101</a>) 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.</p> + +<p>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.</p> + +<p>The Master of the Mint then discouraged my efforts, and the result +was rapidly increasing loss, until I placed on the Master⁠<a id="FNanchor_70_70" href="#Footnote_70_70" class="fnanchor">[70]</a> +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<i>s.</i> 9<i>d.</i> (see Return, <a href="#Page_91">page 91</a>) +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.</p> + +<p>For special reasons which are not exhibited,⁠<a id="FNanchor_71_71" href="#Footnote_71_71" class="fnanchor">[71]</a> +the figures relating to 1851-1852 on the table at <a href="#Page_96">page 96</a> +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<i>s.</i> 5<i>d.</i>, +while in that year a gain was made by coining to the extent of +£25 4<i>s.</i> 10<i>d.</i>⁠<a id="FNanchor_72_72" href="#Footnote_72_72" class="fnanchor">[72]</a> +This gain being deducted from the loss by melting, leaves a final loss +of £140 4<i>s.</i> 7<i>d.</i>, as will be seen in the last column at +<a href="#Page_101">page 101</a>. To test then the gain shown in 1868-69 by the same rule, +it will be observed that while the coining department (<a href="#Page_101">see page 101</a>) +<span class="pagenum" id="Page_104">[Pg 104]</span> +made a profit of £72 17<i>s.</i> 9<i>d.</i>,⁠<a id="FNanchor_73_73" href="#Footnote_73_73" class="fnanchor">[73]</a> +the loss by melting was £392 6<i>s.</i> 10<i>d.</i>, or higher in +amount than it has been in <i>any previous year</i>, so that the gain +claimed for coining is <i>false</i>—it has not arisen—it is a +<span class="allsmcap">STATEMENT OF ACCOUNTS</span>, 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.</p> + +<p><span class="smcap">Bona fide gain by coining gold in its final out-turn</span> +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<i>s.</i> 7<i>d.</i> (<a href="#Page_101">see pages 101-102</a>); +and, had occasion served, it was always intended that I should direct +the melting of gold as I had done that of silver,⁠<a id="FNanchor_74_74" href="#Footnote_74_74" class="fnanchor">[74]</a> +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.</p> + +<p>Of this loss of £140 4<i>s.</i> 7<i>d.</i> 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 <i>against the Mint</i> 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<i>s.</i> 7<i>d.</i> on +each million coined.</p> + +<p>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<i>s.</i> 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<i>d.</i> 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<i>s.</i> 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.⁠<a id="FNanchor_75_75" href="#Footnote_75_75" class="fnanchor">[75]</a> +And since such a loss is to be borne and pleasantly spoken of by <i>Mr. +Lowe</i>, the Master of the Mint, as “going up the chimney,” it is well +to see if that can take place.</p> + +<p><span class="pagenum" id="Page_105">[Pg 105]</span> +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 +<a href="#Page_23">page 23</a>, “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 <a href="#Page_17">page 17</a> +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.”</p> + +<p>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 +<i>he has devised</i> 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<a id="FNanchor_76_76" href="#Footnote_76_76" class="fnanchor">[76]</a> +which the Mint admits to have lost (<a href="#Page_101">see page 101</a>). +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.</p> + +<p>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 +<span class="pagenum" id="Page_106">[Pg 106]</span> +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 +<i>has applied to me</i> 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 <a href="#Page_69">69</a>, <a href="#Page_74">74</a>, +<a href="#Page_81">81</a>, <a href="#Page_82">82</a>, <a href="#Page_83">83</a>; +and for silver melting, at pages <a href="#Page_101">101</a>, +<a href="#Page_104">104</a>, <a href="#Page_109">109</a>, <a href="#Page_111">111</a>, +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 <a href="#Page_91">page 91</a> be examined for +the year April 1867 to March 1868, it will be seen that a variation +exists between it and my table on <a href="#Page_90">page 90</a>; for +whereas I state the value of the coinage for that year at £426,677 +12<i>s.</i> 1¾<i>d.</i> and the loss at 3·357 ounces, or at the rate of +£30 12<i>s.</i> 8¼<i>d.</i> on the million coined, the return states +the money coined at £496,397 17<i>s.</i> 11<i>d.</i>; and leaving +unaltered the <i>amount of loss</i>, shows it to be at the rate of £26 +6<i>s.</i> 7<i>d.</i> 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.</p> + +<p>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 <a href="#Page_7">page 7</a>, in which that gentleman says—</p> + +<p class="blockquot fs_90">“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 <i>department to +substitute a real for a fictitious statement of ‘waste,’ the +regulations of the public service</i> <span class="allsmcap">NOT +ALLOWING THE PROCEEDS OF THE ‘SWEEP’</span>, <i>when sold to the +public, to be brought to account</i> <span class="allsmcap">AS A +SET-OFF AGAINST THE GROSS AMOUNT OF LOSS</span>.”</p> + +<p><span class="pagenum" id="Page_107">[Pg 107]</span> +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<a id="FNanchor_77_77" href="#Footnote_77_77" class="fnanchor">[77]</a> +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?</p> + +<p>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 <i>rejected +work</i> (<a href="#Page_44">see page 44</a>) 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:—</p> + +<p>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.</p> + +<p>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.</p> + +<p>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 <a href="#Page_92">page 92</a>, this +improved in 1857 to 6·99 per cent., while the coined money rose to +57·26 per cent. on the clean bars.</p> + +<p>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.;⁠<a id="FNanchor_78_78" href="#Footnote_78_78" class="fnanchor">[78]</a> +while, at that period, the coined money was 57·43⁠<a id="FNanchor_79_79" href="#Footnote_79_79" class="fnanchor">[79]</a> +per cent. on the clean bars.</p> + +<p>Before arriving at definite conclusions as regards the amount of +rejected work, it will be necessary to understand that up to the 2nd of +<span class="pagenum" id="Page_108">[Pg 108]</span>August, 1861, the remedy⁠<a id="FNanchor_80_80" href="#Footnote_80_80" class="fnanchor">[80]</a> +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<a id="FNanchor_81_81" href="#Footnote_81_81" class="fnanchor">[81]</a> +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.</p> + +<p class="f120 spa2"><b><span class="smcap">Remedy in Parts of a Grain.</span></b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"> </th> + <th class="tdc bl">0·30<br> Grain. </th> + <th class="tdc bl">0·25<br> Grain. </th> + <th class="tdc bl">0·24<br> Grain. </th> + <th class="tdc bl">0·23<br> Grain. </th> + <th class="tdc bl">0·22<br> Grain. </th> + <th class="tdc bl">0·21<br> Grain. </th> + <th class="tdc bl br">0·20<br> Grain. </th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl">Average in 1860</td> + <td class="tdc bl">4·00</td> + <td class="tdc bl"> 8·00</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">12·00</td> + </tr><tr> + <td class="tdl_wsp bl">” 1861</td> + <td class="tdc bl">...</td> + <td class="tdc bl">10·00</td> + <td class="tdc bl">13·00</td> + <td class="tdc bl">15·00</td> + <td class="tdc bl">15·00</td> + <td class="tdc bl">18·00</td> + <td class="tdc bl br">19·00</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">” ”</td> + <td class="tdc bl">5·10</td> + <td class="tdc bl">10·50</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">19·66</td> + </tr> + </tbody> +</table> + +<p>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 “<i>only</i> 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 +<i>process that fails</i>, it is the want of power <i>to conduct that +process</i> which causes so candidly admitted a continuation of the +fatal system re-introduced by Mr. John Graham.</p> + +<p>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 +<i>working remedy</i>, 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 +<span class="pagenum" id="Page_109">[Pg 109]</span> +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) <span class="smcap">Thomas +Graham</span>.” 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.</p> + +<p>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.</p> + +<table class="spb1"> + <thead><tr class="bt"> + <th class="tdc bl bb" rowspan="2"> Date. </th> + <th class="tdc bl bb" rowspan="2"> Sovereign <br>Blanks.</th> + <th class="tdc bl bb" rowspan="2">Half-<br> Sovereign <br>Blanks.</th> + <th class="tdc bl bb" colspan="2">By Filing Metal<br>from the Edges of<br>the Heavy Blanks<br> + they were reduced<br>to the Standard<br>Weight when the<br> + original rate<br>per cent. was<br> reduced to, on</th> + <th class="tdc bl br bb" rowspan="2">Sovereigns<br>coined (that<br>is, weighed<br> after the Coin <br> + was struck,<br>so the heavy<br>were melted).</th> + </tr><tr> + <th class="tdc bl bb"> Sovereigns. </th> + <th class="tdc bl bb">Half-<br> Sovereigns. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl">Per Cent.</td> + <td class="tdc bl">Per Cent.</td> + <td class="tdc bl">Per Cent.</td> + <td class="tdc bl">Per Cent.</td> + <td class="tdc bl br">Per Cent.</td> + </tr><tr> + <td class="tdc bl">1855</td> + <td class="tdc bl">21·49</td> + <td class="tdc bl">32·29</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1856</td> + <td class="tdc bl">14·50</td> + <td class="tdc bl">20·04</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1857</td> + <td class="tdc bl"> 7·44</td> + <td class="tdc bl">16·13</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1858</td> + <td class="tdc bl"> 4·50</td> + <td class="tdc bl">11·16</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1859</td> + <td class="tdc bl"> 5·67</td> + <td class="tdc bl"> 8·86</td> + <td class="tdc bl"> 4·14</td> + <td class="tdc bl"> 5·52</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1860</td> + <td class="tdc bl"> 3·62</td> + <td class="tdc bl">10·08</td> + <td class="tdc bl"> 1·69</td> + <td class="tdc bl"> 4·65</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1861</td> + <td class="tdc bl"> 5·75</td> + <td class="tdc bl">...</td> + <td class="tdc bl"> 3·36</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">21·43</td> + <td class="tdc bl">...</td> + <td class="tdc bl">12·22</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">16·07</td> + <td class="tdc bl">...</td> + <td class="tdc bl"> 6·68</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1862</td> + <td class="tdc bl"> 9·48</td> + <td class="tdc bl">17·06</td> + <td class="tdc bl"> 3·37</td> + <td class="tdc bl">11·53</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1863</td> + <td class="tdc bl"> 9·68</td> + <td class="tdc bl">...</td> + <td class="tdc bl"> 4·25</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">18·76</td> + <td class="tdc bl">18·08</td> + <td class="tdc bl">...</td> + <td class="tdc bl">11·69</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">18·76</td> + <td class="tdc bl">...</td> + <td class="tdc bl"> 6·76</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">...</td> + <td class="tdc bl">28·79</td> + <td class="tdc bl">...</td> + <td class="tdc bl">12·86</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1864</td> + <td class="tdc bl">15·15</td> + <td class="tdc bl">28·27</td> + <td class="tdc bl"> 5·07</td> + <td class="tdc bl">12·79</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">5·74</td> + </tr><tr> + <td class="tdc bl">1865</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br"> 6·61</td> + </tr><tr> + <td class="tdc bl">1866</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br"> 9·87</td> + </tr><tr> + <td class="tdc bl">1867</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr class="bb"> + <td class="tdc bl">1868</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">17·82</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"> Date. </th> + <th class="tdc bl">Half-Sovereigns coined<br>(that is, weighed after<br> + the Coin was struck, so<br> the heavy were melted). </th> + <th class="tdc bl" colspan="4">Remedies employed on<br> Sovereigns on each piece. </th> + <th class="tdc bl br" colspan="2"> Remedies employed on <br>Half-Sovereigns<br> on each piece.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl">Per Cent.</td> + <td class="tdc bl" colspan="4">Parts of a Grain.</td> + <td class="tdc bl br" colspan="2">Parts of a Grain.</td> + </tr><tr> + <td class="tdc bl">1855</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·30</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">0·15</td> + </tr><tr> + <td class="tdc bl">1856</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·30</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">0·15</td> + </tr><tr> + <td class="tdc bl">1857</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·30</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">0·15</td> + </tr><tr> + <td class="tdc bl">1858</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·30</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">0·15</td> + </tr><tr> + <td class="tdc bl">1859</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·30</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">0·15</td> + </tr><tr> + <td class="tdc bl">1860</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·30</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">0·15</td> + </tr><tr> + <td class="tdc bl">1861</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·30</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0.20</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·24</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1862</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·24</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·12</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1863</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·24</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·12</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·24</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·24</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·12</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1864</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·24</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·12</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdc bl">14·76</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·24</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·12</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1865</td> + <td class="tdc bl">12·60</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·24</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·12</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1866</td> + <td class="tdc bl">15·64</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·24</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·12</td> + <td class="tdc bl br">...</td> + </tr><tr> + <td class="tdc bl">1867</td> + <td class="tdc bl">20·28</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·12</td> + <td class="tdc bl br">...</td> + </tr><tr class="bb"> + <td class="tdc bl">1868</td> + <td class="tdc bl">...</td> + <td class="tdc bl">0·15</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">...</td> + </tr> + </tbody> +</table> + +<p>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 +<span class="pagenum" id="Page_110">[Pg 110]</span> +the file, as they were in former days; for it must be remembered that +that file⁠<a id="FNanchor_82_82" href="#Footnote_82_82" class="fnanchor">[82]</a> +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 <a href="#Page_101">101</a>, +<a href="#Page_103">103</a>). 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.</p> + +<p>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. +<span class="pagenum" id="Page_111">[Pg 111]</span></p> + +<p class="f120 spa2"><b><span class="smcap"> +Statement showing the rate per centum of Mixed Coin<br> +from Rough Bars of Gold, and the rate per centum of<br> +Sovereigns and Half Sovereigns from those respective<br> +Bars. The Brittle Bars and Stopped Pots are deducted.</span></b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Coinage<br>conducted between<br>the Periods:—</th> + <th class="tdc bl"> Mixed Bars, <br>“Rough.”</th> + <th class="tdc bl"> Mixed Coin. </th> + <th class="tdc bl br">Rate per cent.<br> on Mixed Bars. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">November 1856 to April 1857</td> + <td class="tdr_wsp bl">1,103,403</td> + <td class="tdr_wsp bl">456,575</td> + <td class="tdc bl br">41·37</td> + </tr><tr> + <td class="tdl_wsp bl">October 1857 to March 1858</td> + <td class="tdr_wsp bl">2,280,033</td> + <td class="tdr_wsp bl">1,238,171</td> + <td class="tdc bl br">54·24</td> + </tr><tr> + <td class="tdl_wsp bl">November 1858 to June 1859</td> + <td class="tdr_wsp bl">1,955,961</td> + <td class="tdr_wsp bl">915,530</td> + <td class="tdc bl br">46·80</td> + </tr><tr> + <td class="tdl_wsp bl">January 1860 to March 1860</td> + <td class="tdr_wsp bl">1,460,209</td> + <td class="tdr_wsp bl">802,847</td> + <td class="tdc bl br">54·28</td> + </tr><tr> + <td class="tdl_wsp bl">January 1861 to April 1861</td> + <td class="tdr_wsp bl">1,707,098</td> + <td class="tdr_wsp bl">862,329</td> + <td class="tdc bl br">50·51</td> + </tr><tr> + <td class="tdl_wsp bl">June 1861 to March 1862</td> + <td class="tdr_wsp bl">4,448,353</td> + <td class="tdr_wsp bl">1,874,885</td> + <td class="tdc bl br">42·14</td> + </tr><tr> + <td class="tdl_wsp bl">May 1862 to March 1863</td> + <td class="tdr_wsp bl">4,534,377</td> + <td class="tdr_wsp bl">2,354,805</td> + <td class="tdc bl br">51·93</td> + </tr><tr> + <td class="tdl_wsp bl">October 1863 to June 1864</td> + <td class="tdr_wsp bl">4,946,697</td> + <td class="tdr_wsp bl">2,323,238</td> + <td class="tdc bl br">46·96</td> + </tr><tr> + <td class="tdl_wsp bl">October 1864 to December 1864 </td> + <td class="tdr_wsp bl">1,981,150</td> + <td class="tdr_wsp bl">958,354</td> + <td class="tdc bl br">48·87</td> + </tr><tr> + <td class="tdl_wsp bl">January 1865 to August 1865</td> + <td class="tdr_wsp bl">1,129,772</td> + <td class="tdr_wsp bl">518,673</td> + <td class="tdc bl br">45·91</td> + </tr><tr> + <td class="tdl_wsp bl">November 1865 to May 1866</td> + <td class="tdr_wsp bl">3,580,017</td> + <td class="tdr_wsp bl">1,396,567</td> + <td class="tdc bl br">39·29</td> + </tr><tr> + <td class="tdl_wsp bl">April 1867 to June 1867</td> + <td class="tdr_wsp bl">305,418</td> + <td class="tdr_wsp bl">127,576</td> + <td class="tdc bl br">41·77</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">July 1868 to August 1868</td> + <td class="tdr_wsp bl">678,976</td> + <td class="tdr_wsp bl">280,993</td> + <td class="tdc bl br">41·38</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Coinage<br>conducted between<br>the Periods:—</th> + <th class="tdc bl"> Sovereign Bars, <br>“Rough.”</th> + <th class="tdc bl"> Sovereigns <br> Coined.</th> + <th class="tdc bl br"> Rate per cent. on <br>Sovereign Bars.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">November 1856 to April 1857</td> + <td class="tdr_wsp bl">480,704</td> + <td class="tdr_wsp bl">288,592</td> + <td class="tdc bl br">60·03</td> + </tr><tr> + <td class="tdl_wsp bl">October 1857 to March 1858</td> + <td class="tdr_wsp bl">2,133,366</td> + <td class="tdr_wsp bl">1,168,227</td> + <td class="tdc bl br">54·29</td> + </tr><tr> + <td class="tdl_wsp bl">November 1858 to June 1859</td> + <td class="tdr_wsp bl">1,341,862</td> + <td class="tdr_wsp bl">592,325</td> + <td class="tdc bl br">44·14</td> + </tr><tr> + <td class="tdl_wsp bl">January 1860 to March 1860</td> + <td class="tdr_wsp bl">1,185,227</td> + <td class="tdr_wsp bl">657,362</td> + <td class="tdc bl br">55·46</td> + </tr><tr> + <td class="tdl_wsp bl">January 1861 to April 1861</td> + <td class="tdr_wsp bl">1,402,538</td> + <td class="tdr_wsp bl">717,010</td> + <td class="tdc bl br">51·12</td> + </tr><tr> + <td class="tdl_wsp bl">June 1861 to March 1862</td> + <td class="tdr_wsp bl">4,448,353</td> + <td class="tdr_wsp bl">1,874,885</td> + <td class="tdc bl br">42·14</td> + </tr><tr> + <td class="tdl_wsp bl">May 1862 to March 1863</td> + <td class="tdr_wsp bl">4,237,267</td> + <td class="tdr_wsp bl">2,220,713</td> + <td class="tdc bl br">52·40</td> + </tr><tr> + <td class="tdl_wsp bl">October 1863 to June 1864</td> + <td class="tdr_wsp bl">4,557,216</td> + <td class="tdr_wsp bl">2,166,112</td> + <td class="tdc bl br">47·53</td> + </tr><tr> + <td class="tdl_wsp bl">October 1864 to December 1864 </td> + <td class="tdr_wsp bl">1,713,659</td> + <td class="tdr_wsp bl">847,357</td> + <td class="tdc bl br">49·44</td> + </tr><tr> + <td class="tdl_wsp bl">January 1865 to August 1865</td> + <td class="tdr_wsp bl">779,345</td> + <td class="tdr_wsp bl">373,340</td> + <td class="tdc bl br">47·90</td> + </tr><tr> + <td class="tdl_wsp bl">November 1865 to May 1866</td> + <td class="tdr_wsp bl">2,676,226</td> + <td class="tdr_wsp bl">1,041,926</td> + <td class="tdc bl br">38·11</td> + </tr><tr> + <td class="tdl_wsp bl">April 1867 to June 1867</td> + <td class="tdr_wsp bl">...</td> + <td class="tdr_wsp bl">...</td> + <td class="tdc bl br">...</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">July 1868 to August 1868</td> + <td class="tdr_wsp bl">678,976</td> + <td class="tdr_wsp bl">280,993</td> + <td class="tdc bl br">41·38</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Coinage<br>conducted between<br>the Periods:—</th> + <th class="tdc bl">Half<br> Sovereign Bars, <br>“Rough.”</th> + <th class="tdc bl">Half<br> Sovereigns <br> Coined.</th> + <th class="tdc bl br"> Rate per cent. on <br>Half<br>Sovereign Bars.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">November 1856 to April 1857</td> + <td class="tdc bl">622,699</td> + <td class="tdc bl">167,983</td> + <td class="tdc bl br">26·97</td> + </tr><tr> + <td class="tdl_wsp bl">October 1857 to March 1858</td> + <td class="tdc bl">146,667</td> + <td class="tdc bl"> 69,944</td> + <td class="tdc bl br">47·68</td> + </tr><tr> + <td class="tdl_wsp bl">November 1858 to June 1859</td> + <td class="tdc bl">614,099</td> + <td class="tdc bl">323,203</td> + <td class="tdc bl br">52·63</td> + </tr><tr> + <td class="tdl_wsp bl">January 1860 to March 1860</td> + <td class="tdc bl">274,982</td> + <td class="tdc bl">145,400</td> + <td class="tdc bl br">52·87</td> + </tr><tr> + <td class="tdl_wsp bl">January 1861 to April 1861</td> + <td class="tdc bl">304,560</td> + <td class="tdc bl">145,319</td> + <td class="tdc bl br">47·71</td> + </tr><tr> + <td class="tdl_wsp bl">June 1861 to March 1862</td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">May 1862 to March 1863</td> + <td class="tdc bl">297,110</td> + <td class="tdc bl">134,092</td> + <td class="tdc bl br">45·13</td> + </tr><tr> + <td class="tdl_wsp bl">October 1863 to June 1864</td> + <td class="tdc bl">389,481</td> + <td class="tdc bl">157,125</td> + <td class="tdc bl br">40·34</td> + </tr><tr> + <td class="tdl_wsp bl">October 1864 to December 1864</td> + <td class="tdc bl">267,491</td> + <td class="tdc bl">110,986</td> + <td class="tdc bl br">41·48</td> + </tr><tr> + <td class="tdl_wsp bl">January 1865 to August 1865</td> + <td class="tdc bl">350,427</td> + <td class="tdc bl">145,332</td> + <td class="tdc bl br">41·47</td> + </tr><tr> + <td class="tdl_wsp bl">November 1865 to May 1866</td> + <td class="tdc bl">903,791</td> + <td class="tdc bl">354,640</td> + <td class="tdc bl br">39·23</td> + </tr><tr> + <td class="tdl_wsp bl">April 1867 to June 1867</td> + <td class="tdc bl">305,418</td> + <td class="tdc bl">127,576</td> + <td class="tdc bl br">41·77</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">July 1868 to August 1868</td> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> </td> + </tr> + </tbody> +</table> + +<p class="spa2"><span class="pagenum" id="Page_112">[Pg 112]</span></p> + +<p class="f120"><b><span class="smcap">Statement showing the Gold Bars used in each Coinage<br> +from November, 1856, to August, 1868, and the rate<br> +per centum of Ends, of Mixed Gold Coin, and of<br> +Sovereigns and Half Sovereigns produced from<br> +those Bars.</span></b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Coinage<br>conducted between<br>the Periods:—</th> + <th class="tdc bl"> Mixed Bars, <br>“Clean.”</th> + <th class="tdc bl">Ends cut<br> from Bars. </th> + <th class="tdc bl br"> Sovereign Bars. <br>“Clean.”</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl">Per Cent.</td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">November 1856 to April 1857</td> + <td class="tdc bl">1,057,776</td> + <td class="tdc bl">4·13</td> + <td class="tdc bl br"> 460,851</td> + </tr><tr> + <td class="tdl_wsp bl">October 1857 to March 1858</td> + <td class="tdc bl">2,192,798</td> + <td class="tdc bl">3·82</td> + <td class="tdc bl br">2,051,872</td> + </tr><tr> + <td class="tdl_wsp bl">November 1858 to June 1859</td> + <td class="tdc bl">1,798,717</td> + <td class="tdc bl">4·41</td> + <td class="tdc bl br">1,210,447</td> + </tr><tr> + <td class="tdl_wsp bl">January 1860 to March 1860</td> + <td class="tdc bl">1,414,516</td> + <td class="tdc bl">3·13</td> + <td class="tdc bl br">1,148,130</td> + </tr><tr> + <td class="tdl_wsp bl">January 1861 to April 1861</td> + <td class="tdc bl">1,619,251</td> + <td class="tdc bl">5·14</td> + <td class="tdc bl br">1,330,448</td> + </tr><tr> + <td class="tdl_wsp bl">June 1861 to March 1862</td> + <td class="tdc bl">4,215,722</td> + <td class="tdc bl">5·22</td> + <td class="tdc bl br">4,215,722</td> + </tr><tr> + <td class="tdl_wsp bl">May 1862 to March 1863</td> + <td class="tdc bl">4,351,531</td> + <td class="tdc bl">4·03</td> + <td class="tdc bl br">4,066,506</td> + </tr><tr> + <td class="tdl_wsp bl">October 1863 to June 1864</td> + <td class="tdc bl">4,566,032</td> + <td class="tdc bl">⁠<a id="FNanchor_83_83" href="#Footnote_83_83" class="fnanchor">[83]</a>7·60   </td> + <td class="tdc bl br">4,261,432</td> + </tr><tr> + <td class="tdl_wsp bl">October 1864 to December 1864</td> + <td class="tdc bl">1,851,724</td> + <td class="tdc bl">6·48</td> + <td class="tdc bl br">1,602,533</td> + </tr><tr> + <td class="tdl_wsp bl">January 1865 to August 1865</td> + <td class="tdc bl">1,047,901</td> + <td class="tdc bl">7·24</td> + <td class="tdc bl br"> 722,921</td> + </tr><tr> + <td class="tdl_wsp bl">November 1865 to May 1866</td> + <td class="tdc bl">3,336,536</td> + <td class="tdc bl">6·80</td> + <td class="tdc bl br">2,494,243</td> + </tr><tr> + <td class="tdl_wsp bl">April 1867 to June 1867</td> + <td class="tdc bl"> 291,696</td> + <td class="tdc bl">4·50</td> + <td class="tdc bl br">..</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">July 1868 to August 1868</td> + <td class="tdc bl"> 612,857</td> + <td class="tdc bl">9·57</td> + <td class="tdc bl br">612,857</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Coinage<br>conducted between<br>the Periods:—</th> + <th class="tdc bl">Half<br> Sovereign <br> Bars,<br>“Clean.”</th> + <th class="tdc bl"> Mixed Coin, <br> including<br> Pyx Pieces.</th> + <th class="tdc bl">Sovereigns<br> from<br> “Clean” Bars. </th> + <th class="tdc bl br">Half<br> Sovereigns<br> from<br> “Clean” Bars. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl">Per Cent.</td> + <td class="tdc bl">Per Cent.</td> + <td class="tdc bl br">Per Cent.</td> + </tr><tr> + <td class="tdl_wsp bl">November 1856 to April 1857</td> + <td class="tdc bl">596,925</td> + <td class="tdc bl">43·16</td> + <td class="tdc bl">62·62</td> + <td class="tdc bl br">28·12</td> + </tr><tr> + <td class="tdl_wsp bl">October 1857 to March 1858</td> + <td class="tdc bl">140,926</td> + <td class="tdc bl">56·39</td> + <td class="tdc bl">56·93</td> + <td class="tdc bl br">49·63</td> + </tr><tr> + <td class="tdl_wsp bl">November 1858 to June 1859</td> + <td class="tdc bl">588,269</td> + <td class="tdc bl">50·89</td> + <td class="tdc bl">48·93</td> + <td class="tdc bl br">54·94</td> + </tr><tr> + <td class="tdl_wsp bl">January 1860 to March 1860</td> + <td class="tdc bl">266,386</td> + <td class="tdc bl">56·75</td> + <td class="tdc bl">56·43</td> + <td class="tdc bl br">54·54</td> + </tr><tr> + <td class="tdl_wsp bl">January 1861 to April 1861</td> + <td class="tdc bl">288,803</td> + <td class="tdc bl">53·18</td> + <td class="tdc bl">53·88</td> + <td class="tdc bl br">50·03</td> + </tr><tr> + <td class="tdl_wsp bl">June 1861 to March 1862</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">44·47</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">May 1862 to March 1863</td> + <td class="tdc bl">285,025</td> + <td class="tdc bl">54·03</td> + <td class="tdc bl">54·60</td> + <td class="tdc bl br">47·39</td> + </tr><tr> + <td class="tdl_wsp bl">October 1863 to June 1864</td> + <td class="tdc bl">304,600</td> + <td class="tdc bl">50·88</td> + <td class="tdc bl">50·82</td> + <td class="tdc bl br">51·25</td> + </tr><tr> + <td class="tdl_wsp bl">October 1864 to December 1864 </td> + <td class="tdc bl">249,191</td> + <td class="tdc bl">51·75</td> + <td class="tdc bl">52·87</td> + <td class="tdc bl br">44·53</td> + </tr><tr> + <td class="tdl_wsp bl">January 1865 to August 1865</td> + <td class="tdc bl">324,980</td> + <td class="tdc bl">49·49</td> + <td class="tdc bl">51·64</td> + <td class="tdc bl br">44·72</td> + </tr><tr> + <td class="tdl_wsp bl">November 1865 to May 1866</td> + <td class="tdc bl">842,293</td> + <td class="tdc bl">41·80</td> + <td class="tdc bl">41·77</td> + <td class="tdc bl br">42·10</td> + </tr><tr> + <td class="tdl_wsp bl">April 1867 to June 1867</td> + <td class="tdc bl">291,696</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl br">43·70</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">July 1868 to August 1868</td> + <td class="tdc bl">...</td> + <td class="tdc bl">...</td> + <td class="tdc bl">45·84</td> + <td class="tdc bl br"> </td> + </tr> + </tbody> +</table> + +<p>The half-sovereigns shown in this table (<a href="#Page_111">page 111</a>) 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 <a href="#Page_107">page 107</a>) +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 <a href="#Page_109">page 109</a>, +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<a id="FNanchor_84_84" href="#Footnote_84_84" class="fnanchor">[84]</a> +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 <i>unwisdom</i>:—“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) +<span class="smcap">Thomas Graham</span>. 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 <i>invariable</i> custom under the +<span class="allsmcap">MONEYERS</span> 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 +<span class="pagenum" id="Page_113">[Pg 113]</span> +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 <i>cutters</i> 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 <i>régime</i> 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 <i>rough +bars</i>.⁠<a id="FNanchor_85_85" href="#Footnote_85_85" class="fnanchor">[85]</a> +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<a id="FNanchor_86_86" href="#Footnote_86_86" class="fnanchor">[86]</a> +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.</p> + +<table class="spb1"> + <thead><tr class="bt"> + <th class="tdc bb bl" rowspan="2">From</th> + <th class="tdc bb bl" colspan="3">On Rough Bars.</th> + <th class="tdc bb bl br" colspan="4">On Clean Bars.</th> + </tr><tr class="bb"> + <th class="tdc bl"> Mixed <br>Coin.</th> + <th class="tdc bl">Sovereigns.</th> + <th class="tdc bl">Half<br>Sovereigns.</th> + <th class="tdc bl"> Mixed <br>Coin.</th> + <th class="tdc bl">Sovereigns.</th> + <th class="tdc bl">Half<br>Sovereigns.</th> + <th class="tdc bl br"> Ends. </th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl">November 1856 to March 1863</td> + <td class="tdc bl">48·75</td> + <td class="tdc bl">51·34</td> + <td class="tdc bl">45·49</td> + <td class="tdc bl">52·40</td> + <td class="tdc bl">53·98</td> + <td class="tdc bl">47·44</td> + <td class="tdc bl br">4·26</td> + </tr><tr> + <td class="tdl_wsp bl">October 1863 to August 1868</td> + <td class="tdc bl">44·03</td> + <td class="tdc bl">44·87</td> + <td class="tdc bl">40·85</td> + <td class="tdc bl">48·48</td> + <td class="tdc bl">48·58</td> + <td class="tdc bl">45·26</td> + <td class="tdc bl br">7·03</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Waste per Centum</td> + <td class="tdc bl"> 4·72</td> + <td class="tdc bl"> 6·57</td> + <td class="tdc bl"> 4·64</td> + <td class="tdc bl"> 3·92</td> + <td class="tdc bl"> 5·40</td> + <td class="tdc bl"> 2·18</td> + <td class="tdc bl br">2·77</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_114">[Pg 114]</span></p> + +<p><span class="smcap">Statement showing the Amount of Money Coined and of Pyx Pieces +between November, 1856, and August, 1868.</span></p> + +<ul class="index"> +<li class="isub2">LEGEND:</li> +<li class="isub4"><b>(A)</b> = Money Coined:—Sovereigns and Half Sovereigns.</li> +<li class="isub4"><b>(B)</b> = Coined Money:—Sovereigns</li> +<li class="isub4"><b>(C)</b> = Coined Money:—Pyx Pieces.</li> +<li class="isub4"><b>(D)</b> = Coined Money:—Half Sovereigns.</li> +<li class="isub4"><b>(E)</b> = Coined Money:—Mixed Pyx Pieces.</li> +</ul> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Coinage<br>conducted between<br>the Periods:—</th> + <th class="tdc fs_120 bl">(A)</th> + <th class="tdc fs_120 bl">(B)</th> + <th class="tdc fs_120 bl br">(C)</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">November 1856 to April 1857</td> + <td class="tdr_wsp bl">456111·568</td> + <td class="tdr_wsp bl">288314·570</td> + <td class="tdr_wsp bl br">277·857</td> + </tr><tr> + <td class="tdl_wsp bl">October 1857 to March 1858</td> + <td class="tdr_wsp bl"> 1236713·674</td> + <td class="tdr_wsp bl"> 1166819·294</td> + <td class="tdr_wsp bl br"> 1407·777</td> + </tr><tr> + <td class="tdl_wsp bl">December 1858 to January 1859⁠<a id="FNanchor_87_87" href="#Footnote_87_87" class="fnanchor">[87]</a> </td> + <td class="tdr_wsp bl">450090·524</td> + <td class="tdr_wsp bl">410119·648</td> + <td class="tdr_wsp bl br">584·990</td> + </tr><tr> + <td class="tdl_wsp bl">March 1859 to June 1859⁠<a id="FNanchor_88_88" href="#Footnote_88_88" class="fnanchor">[88]</a></td> + <td class="tdr_wsp bl">464407·847</td> + <td class="tdr_wsp bl">181414·181</td> + <td class="tdr_wsp bl br">207·494</td> + </tr><tr> + <td class="tdl_wsp bl">January 1860 to March 1860</td> + <td class="tdr_wsp bl">801722·890</td> + <td class="tdr_wsp bl">656425·814</td> + <td class="tdr_wsp bl br">936·549</td> + </tr><tr> + <td class="tdl_wsp bl">January 1861 to April 1861</td> + <td class="tdr_wsp bl">861205·000</td> + <td class="tdr_wsp bl">715989·212</td> + <td class="tdr_wsp bl br">1021·293</td> + </tr><tr> + <td class="tdl_wsp bl">June 1861 to March 1862</td> + <td class="tdr_wsp bl">1872214·638</td> + <td class="tdr_wsp bl">1872214·638</td> + <td class="tdr_wsp bl br">2670·720</td> + </tr><tr> + <td class="tdl_wsp bl">May 1862 to March 1863</td> + <td class="tdr_wsp bl">2351444·336</td> + <td class="tdr_wsp bl">2217447·814</td> + <td class="tdr_wsp bl br">3265·725</td> + </tr><tr> + <td class="tdl_wsp bl">October 1863 to June 1864</td> + <td class="tdr_wsp bl">2320041·256</td> + <td class="tdr_wsp bl">2163027·402</td> + <td class="tdr_wsp bl br">3085·452</td> + </tr><tr> + <td class="tdl_wsp bl">October 1864 to December 1864</td> + <td class="tdr_wsp bl">957057·966</td> + <td class="tdr_wsp bl">846150·074</td> + <td class="tdr_wsp bl br">1207·216</td> + </tr><tr> + <td class="tdl_wsp bl">January 1865 to August 1865</td> + <td class="tdr_wsp bl">518037·315</td> + <td class="tdr_wsp bl">372808·744</td> + <td class="tdr_wsp bl br">532·079</td> + </tr><tr> + <td class="tdl_wsp bl">November 1865 to May 1866</td> + <td class="tdr_wsp bl">1394809·101</td> + <td class="tdr_wsp bl">1040421·949</td> + <td class="tdr_wsp bl br">1504·848</td> + </tr><tr> + <td class="tdl_wsp bl">April 1867 to June 1867</td> + <td class="tdr_wsp bl">127485·816</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">July 1868 to August 1868</td> + <td class="tdr_wsp bl">280608·540</td> + <td class="tdr_wsp bl">280608·540</td> + <td class="tdr_wsp bl br">385·200</td> + </tr><tr class="bb"> + <td class="tdc bl"><b>Coinage<br>conducted between<br>the Periods:—</b></td> + <td class="tdc fs_120 bl"><b>(D)</b></td> + <td class="tdc fs_120 bl"><b>(C)</b></td> + <td class="tdc fs_120 bl br"><b>(E)</b></td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">November 1856 to April 1857</td> + <td class="tdr_wsp bl">167796·998</td> + <td class="tdr_wsp bl">186·436</td> + <td class="tdr_wsp bl br">464·293</td> + </tr><tr> + <td class="tdl_wsp bl">October 1857 to March 1858</td> + <td class="tdr_wsp bl">69894·380</td> + <td class="tdr_wsp bl">49·947</td> + <td class="tdr_wsp bl br">1457·724</td> + </tr><tr> + <td class="tdl_wsp bl">December 1858 to January 1859⁠<a id="FNanchor_89_89" href="#Footnote_89_89" class="fnanchor">[89]</a></td> + <td class="tdr_wsp bl">39970·876</td> + <td class="tdr_wsp bl">28·404</td> + <td class="tdr_wsp bl br">613·394</td> + </tr><tr> + <td class="tdl_wsp bl">March 1859 to June 1859⁠<a id="FNanchor_90_90" href="#Footnote_90_90" class="fnanchor">[90]</a></td> + <td class="tdr_wsp bl">282993·693</td> + <td class="tdr_wsp bl">210·844</td> + <td class="tdr_wsp bl br">418·338</td> + </tr><tr> + <td class="tdl_wsp bl">January 1860 to March 1860</td> + <td class="tdr_wsp bl">145297·076</td> + <td class="tdr_wsp bl">103·747</td> + <td class="tdr_wsp bl br">1040·296</td> + </tr><tr> + <td class="tdl_wsp bl">January 1861 to April 186</td> + <td class="tdr_wsp bl">145215·788</td> + <td class="tdr_wsp bl">103·618</td> + <td class="tdr_wsp bl br">1124·911</td> + </tr><tr> + <td class="tdl_wsp bl">June 1861 to March 1862</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">October 1863 to June 1864</td> + <td class="tdr_wsp bl">157013·854</td> + <td class="tdr_wsp bl">111·964</td> + <td class="tdr_wsp bl br">3197·416</td> + </tr><tr> + <td class="tdl_wsp bl">October 1864 to December 1864</td> + <td class="tdr_wsp bl">110907·892</td> + <td class="tdr_wsp bl">79·094</td> + <td class="tdr_wsp bl br">1286·310</td> + </tr><tr> + <td class="tdl_wsp bl">January 1865 to August 1865</td> + <td class="tdr_wsp bl">145228·571</td> + <td class="tdr_wsp bl">103·618</td> + <td class="tdr_wsp bl br">635·697</td> + </tr><tr> + <td class="tdl_wsp bl">November 1865 to May 1866</td> + <td class="tdr_wsp bl">354387·061</td> + <td class="tdr_wsp bl">253·461</td> + <td class="tdr_wsp bl br">1758·309</td> + </tr><tr> + <td class="tdl_wsp bl">April 1867 to June 1867</td> + <td class="tdr_wsp bl">127485·816</td> + <td class="tdr_wsp bl">90·265</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">July 1868 to August 1868</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_115">[Pg 115]</span> +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<a id="FNanchor_91_91" href="#Footnote_91_91" class="fnanchor">[91]</a> +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,⁠<a id="FNanchor_92_92" href="#Footnote_92_92" class="fnanchor">[92]</a> +inclusive of every <i>manufacturing</i> expense, cost 6<i>s.</i> 5<i>d.</i> +per thousand pieces; while that of 1866 cost 13<i>s.</i> 2<i>d.</i> 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 (<a href="#Page_114">refer to page 114</a>) 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<i>s.</i> 10½<i>d.</i>, when the total value of that coinage will +be obtained, and found to be £1,777,796·15. Since each thousand coins +cost 6<i>s.</i> 5<i>d.</i>, the total sum was coined at an expense +of £570 7<i>s.</i> 6<i>d.</i>; but, had the rate of expense been the +same as for the coinage of 1866, the total cost would have been £1,170 +7<i>s.</i> 7½<i>d.</i>, or exactly £600 0<i>s.</i> 1½<i>d.</i> 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.</p> + +<p>On examining this table (<a href="#Page_114">see page 114)</a>, +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.</p> + +<p>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 +<span class="pagenum" id="Page_116">[Pg 116]</span> +workpeople: one by which they were paid for <i>time</i>, 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 <i>piece-work</i>. 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<i>s.</i> a week, and, after twenty years, rose to +10<i>s.</i> 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</p> + +<p class="f120 spa2"><b>Rates for Piece-work.</b></p> + +<ul class="index"> +<li class="isub2">LEGEND:</li> +<li class="isub4"><b>(A)</b> = Rolling Fillets.</li> +<li class="isub4"><b>(B)</b> = Adjusting and Cutting.</li> +<li class="isub4"><b>(C)</b> = Marking and Annealing.</li> +<li class="isub4"><b>(D)</b> = Coining in Press Room.</li> +<li class="isub4"><b>(E)</b> = Melting. (Ends are not deducted.)</li> +</ul> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="2">For each 100 lbs.<br>Troy of Good<br> Work produced.</th> + <th class="tdc fs_120 bl" colspan="2"> (A) </th> + <th class="tdc fs_120 bl" colspan="2"> (B) </th> + <th class="tdc fs_120 bl" colspan="2"> (C) </th> + <th class="tdc fs_120 bl" colspan="2"> (D) </th> + <th class="tdc fs_120 bl br"> (E) </th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="2"> </td> + <td class="tdc bl"><i>s.</i></td> + <td class="tdc"><i>d.</i></td> + <td class="tdc bl"><i>s.</i></td> + <td class="tdc"><i>d.</i></td> + <td class="tdc bl"><i>s.</i></td> + <td class="tdc"><i>d.</i></td> + <td class="tdc bl"><i>s.</i></td> + <td class="tdc"><i>d.</i></td> + <td class="tdc bl br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="2">Gold</td> + <td class="tdl_wsp">Sovereigns</td> + <td class="tdc bl">3</td> + <td class="tdc">0</td> + <td class="tdc bl">5</td> + <td class="tdc">0</td> + <td class="tdc bl">3</td> + <td class="tdc">0</td> + <td class="tdc bl">2</td> + <td class="tdc">6</td> + <td class="tdc bl br">5</td> + </tr><tr class="bb"> + <td class="tdl_wsp">Half-Sovereigns</td> + <td class="tdc bl">5</td> + <td class="tdc">0</td> + <td class="tdc bl">10</td> + <td class="tdc">0</td> + <td class="tdc bl">6</td> + <td class="tdc">0</td> + <td class="tdc bl">5</td> + <td class="tdc">0</td> + <td class="tdc bl br">5</td> + </tr><tr> + <td class="tdl_wsp bl" rowspan="5">Silver</td> + <td class="tdl_wsp">Florins and upwards </td> + <td class="tdc bl">1</td> + <td class="tdc">6</td> + <td class="tdc bl">2</td> + <td class="tdc">6</td> + <td class="tdc bl">2</td> + <td class="tdc">0</td> + <td class="tdc bl">1</td> + <td class="tdc">8</td> + <td class="tdc bl br">5</td> + </tr><tr> + <td class="tdl_wsp">Shillings</td> + <td class="tdc bl">2</td> + <td class="tdc">0</td> + <td class="tdc bl">3</td> + <td class="tdc">6</td> + <td class="tdc bl">3</td> + <td class="tdc">6</td> + <td class="tdc bl">3</td> + <td class="tdc">0</td> + <td class="tdc bl br">5</td> + </tr><tr> + <td class="tdl_wsp">Sixpences</td> + <td class="tdc bl">4</td> + <td class="tdc">0</td> + <td class="tdc bl">7</td> + <td class="tdc">0</td> + <td class="tdc bl">7</td> + <td class="tdc">0</td> + <td class="tdc bl">6</td> + <td class="tdc">0</td> + <td class="tdc bl br">5</td> + </tr><tr> + <td class="tdl_wsp">Fourpences</td> + <td class="tdc bl">5</td> + <td class="tdc">0</td> + <td class="tdc bl">8</td> + <td class="tdc">0</td> + <td class="tdc bl">14</td> + <td class="tdc">0</td> + <td class="tdc bl">12</td> + <td class="tdc">0</td> + <td class="tdc bl br">0</td> + </tr><tr class="bb"> + <td class="tdl_wsp">Threepences</td> + <td class="tdc bl">6</td> + <td class="tdc">0</td> + <td class="tdc bl">10</td> + <td class="tdc">0</td> + <td class="tdc bl">14</td> + <td class="tdc">0</td> + <td class="tdc bl">12</td> + <td class="tdc">0</td> + <td class="tdc bl br">5</td> + </tr> +</tbody> +</table> + +<p>And, to view this matter in its practical light, we can demonstrate its +unadvisedness. Thus, in the coinage of 1857,⁠<a id="FNanchor_93_93" href="#Footnote_93_93" class="fnanchor">[93]</a> +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 +<span class="pagenum" id="Page_117">[Pg 117]</span> +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:—</p> + +<table class="spb1"> + <tbody><tr class="fs_120"> + <td class="tdl" colspan="2"> </td> + <td class="tdl_wsp">£</td> + <td class="tdl_wsp"><i>s.</i></td> + <td class="tdl_wsp"><i>d.</i></td> + </tr><tr> + <td class="tdl">For</td> + <td class="tdl_wsp">melting</td> + <td class="tdl_wsp"> 36</td> + <td class="tdl_wsp">12</td> + <td class="tdl_wsp">9½</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">rolling</td> + <td class="tdl_wsp">252</td> + <td class="tdl_wsp"> 8</td> + <td class="tdl_wsp">0½</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">cutting and adjusting</td> + <td class="tdl_wsp">260</td> + <td class="tdl_wsp">12</td> + <td class="tdl_wsp">5¾</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">annealing and blanching</td> + <td class="tdl_wsp">145</td> + <td class="tdl_wsp"> 8</td> + <td class="tdl_wsp">9</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">coining in press room</td> + <td class="tdl_wsp bb">120</td> + <td class="tdl_wsp bb"> 5</td> + <td class="tdl_wsp bb">4¾</td> + </tr><tr> + <td class="tdc"> </td> + <td class="tdr">£</td> + <td class="tdl_wsp">815</td> + <td class="tdl_wsp"> 7</td> + <td class="tdl_wsp">5½</td> + </tr> + </tbody> +</table> + +<p>So that for producing 1,154,590·87 ounces, or £4,495,748, of coined +money, the men were paid £815 7<i>s.</i> 5½<i>d.</i>, 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,⁠<a id="FNanchor_94_94" href="#Footnote_94_94" class="fnanchor">[94]</a> +and May, 1866⁠<a id="FNanchor_95_95" href="#Footnote_95_95" class="fnanchor">[95]</a>—49·44 +and 38·11⁠<a id="FNanchor_96_96" href="#Footnote_96_96" class="fnanchor">[96]</a> +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.</p> + +<p class="f120"><b><span class="smcap">Statement showing the Cost of producing<br> +1,000 Coined Sovereigns and Half Sovereigns.</span></b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Date of<br> Coining </th> + <th class="tdc bl">Denomination<br>of Coin.</th> + <th class="tdc bl"> Total Number <br>of Coins in<br>the Coinage.</th> + <th class="tdc bl">Average<br> Number of <br>Pieces<br>per Week.</th> + <th class="tdc bl br" colspan="3">Total Sum<br>paid to<br>Workmen as<br> Wages.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl">£</td> + <td class="tdc"><i>s.</i></td> + <td class="tdc br"><i>d.</i></td> + </tr><tr> + <td class="tdc bl">1857</td> + <td class="tdl_wsp bl">Sovereigns</td> + <td class="tdr_wsp bl">4,495,748</td> + <td class="tdr_wsp bl">497,625</td> + <td class="tdr_wsp bl">778</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">1858</td> + <td class="tdl_wsp bl"><span class="ws2">”</span></td> + <td class="tdr_wsp bl">47,549</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl">8</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp br">2½</td> + </tr><tr> + <td class="tdc bl">1858</td> + <td class="tdl_wsp bl">Half Sovereigns </td> + <td class="tdr_wsp bl">544,312</td> + <td class="tdr_wsp bl">272,156</td> + <td class="tdr_wsp bl">91</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 br">3</td> + </tr><tr class="bb"> + <td class="tdc bl">1864</td> + <td class="tdl_wsp bl">Sovereigns</td> + <td class="tdr_wsp bl">5,663,656</td> + <td class="tdr_wsp bl">514,878</td> + <td class="tdr_wsp bl"> 2,011</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp br">7½</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Date of<br> Coining </th> + <th class="tdc bl" colspan="3">Cost of<br>1,000<br> Pieces in <br>Wages.</th> + <th class="tdc bl" colspan="3">Cost of<br> 1000 pieces <br>in Salaries<br>and<br>contingent<br>expenses.</th> + <th class="tdc bl" colspan="3">Cost in<br>Loss of<br> Metal by <br>Coining.</th> + <th class="tdc bl br" colspan="3">Total Cost<br> of producing <br>1000 Gold<br>Coins.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl">£</td> <td class="tdc"><i>s.</i></td> <td class="tdc"><i>d.</i></td> + <td class="tdc bl">£</td> <td class="tdc"><i>s.</i></td> <td class="tdc"><i>d.</i></td> + <td class="tdc bl">£</td> <td class="tdc"><i>s.</i></td> <td class="tdc"><i>d.</i></td> + <td class="tdc bl">£</td> <td class="tdc"><i>s.</i></td> <td class="tdc br"><i>d.</i></td> + </tr><tr> + <td class="tdc bl">1857</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">3</td> <td class="tdr_wsp">5½</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">8</td> <td class="tdr_wsp">1¼</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">2</td> <td class="tdr_wsp">9½</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">14</td> <td class="tdr_wsp br">4¼</td> + </tr><tr> + <td class="tdc bl">1858</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">3</td> <td class="tdr_wsp">5¼</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">17</td> <td class="tdr_wsp">5½</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">4</td> <td class="tdr_wsp">1¼</td> + <td class="tdr_wsp bl">1</td> <td class="tdr_wsp">5</td> <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdc bl">1858</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">3</td> <td class="tdr_wsp">4½</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">18</td> <td class="tdr_wsp">3¾</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">4</td> <td class="tdr_wsp">1¼</td> + <td class="tdr_wsp bl">1</td> <td class="tdr_wsp">5</td> <td class="tdr_wsp br">11¼</td> + </tr><tr class="bb"> + <td class="tdc bl">1864</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">7</td> <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">12</td> <td class="tdr_wsp">9¼</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">6</td> <td class="tdr_ws1">0</td> + <td class="tdr_wsp bl">1</td> <td class="tdr_wsp">5</td> <td class="tdr_wsp br">11¼</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Date of<br> Coining </th> + <th class="tdc bl" colspan="3">Cost of<br>1,000 Pieces<br>for melting.</th> + <th class="tdc bl br" colspan="3">Total Cost<br> of producing <br>one Gold Coin.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl">£</td> <td class="tdc"><i>s.</i></td> <td class="tdc"><i>d.</i></td> + <td class="tdc bl">£</td> <td class="tdc"><i>s.</i></td> <td class="tdc br"><i>d.</i></td> + </tr><tr> + <td class="tdc bl">1857</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">1·955</td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp br">0·174</td> + </tr><tr> + <td class="tdc bl">1858</td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp br">0·302</td> + </tr><tr> + <td class="tdc bl">1858</td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp br">0·309</td> + </tr><tr class="bb"> + <td class="tdc bl">1864</td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdr_wsp bl">0</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp br">0·311</td> + </tr> + </tbody> +</table> + +<p class="no-indent">By which it is demonstrably shown that whereas at that +period 1,000 coins cost for wages 7<i>s.</i> 2<i>d.</i>, at the periods above +given, and shown as 1857-8, the cost was 3<i>s.</i> 5½<i>d.</i> for +the same number of coins, thus showing a clear saving for wages, by +the proper system of management, of 3<i>s.</i> 8½<i>d.</i> on each +1,000 sovereigns coined, or on that total quantity no less than £1,050 +2<i>s.</i> 8½<i>d.</i> 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.</p> + +<p>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 +<span class="pagenum" id="Page_118">[Pg 118]</span> +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. <i>Vide</i> “Mint Reports,” No. 7, 1870.</p> + +<p>“We propose that for the future all piece-work in gold and silver +coining shall be paid for at the reduced rate of 1<i>s.</i> 9<i>d.</i> +per 1,000 good pieces, and all bronze coining at the rate of £2 +10<i>s.</i> per ton for pence, £3 10<i>s.</i> per ton for halfpence, +and £7 per ton for farthings.</p> + +<p>“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<i>s.</i>, and after three years’ service, to 15<i>s.</i> +per week. The only exception to these arrangements would be the +payments made to certain overmen, which would be in one case £1 +10<i>s.</i>, and in five other cases £1 5<i>s.</i> 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.</p> + +<p>“By this arrangement an average saving of £100 a year only will be +effected.”</p> + +<p>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.</p> + +<p>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.</p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="2">GOLD</th> + </tr><tr class="bb"> + <th class="tdc bl">Sovereigns.</th> + <th class="tdc bl br"> Half Sovereigns </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl">600 journeys<br>per week.<br>= 420,600<br>pieces at 1/9<br>per 1,000.</td> + <td class="tdc bl br">300 journeys<br>per week.<br>= 420,600<br>pieces at 1/9<br>per 1,000.</td> + </tr><tr> + <td class="tdc bl"> </td> + <td class="tdc bl br" > </td> + </tr><tr class="bb"> + <td class="tdc bl"> Wages £36·80 </td> + <td class="tdc bl br">£36·80</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="4">SILVER.</th> + </tr><tr class="bb"> + <th class="tdc bl">Florins.</th> + <th class="tdc bl">Shillings.</th> + <th class="tdc bl">Sixpences.</th> + <th class="tdc bl br"> Threepences. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl">240 journeys<br>per week.<br>= 475,200<br> pieces at 1/9 <br>per 1,000.</td> + <td class="tdc bl">180 journeys<br>per week.<br>= 712,800<br> pieces at 1/9 <br>per 1,000.</td> + <td class="tdc bl">108 journeys<br>per week.<br>= 855,360<br> pieces at 1/9 <br>per 1,000.</td> + <td class="tdc bl br">60 journeys<br>per week.<br>= 950,400<br>pieces at 1/9<br>per 1,000.</td> + </tr><tr> + <td class="tdc bl"> </td> + <td class="tdc bl" > </td> + <td class="tdc bl"> </td> + <td class="tdc bl br" > </td> + </tr><tr class="bb"> + <td class="tdc bl">£41·55</td> + <td class="tdc bl">£62·37</td> + <td class="tdc bl">£74·84</td> + <td class="tdc bl br">£33·16</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="3">BRONZE.</th> + </tr><tr class="bb"> + <th class="tdc bl">Pennies.</th> + <th class="tdc bl">Half Pennies.</th> + <th class="tdc bl br">Farthings.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl">30 cwt. per<br>diem, or say<br> 9 tons a week <br>at £2 10<i>s.</i><br>per ton.</td> + <td class="tdc bl">25 cwt. per<br>diem, or say<br> 7·50 tons a week <br>at £3 10<i>s.</i><br>per ton.</td> + <td class="tdc bl br">12 cwt. per<br>diem, or say<br> 3·60 tons a week <br>at £7<br>per ton.</td> + </tr><tr> + <td class="tdc bl"> </td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> </td> + </tr><tr class="bb"> + <td class="tdc bl">£22·50</td> + <td class="tdc bl">£26·25</td> + <td class="tdc bl br">£25·20</td> + </tr> + </tbody> +</table> + +<p>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 <i>the worst wages</i> +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 <i>florins</i> be +compared with that for <span class="allsmcap">THREEPENCES</span>, which, +with a tithe of the labour, yield just <i>double</i> the remuneration. +<span class="pagenum" id="Page_119">[Pg 119]</span> +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 <i>inequalities of wages</i> 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 “<i>this +arrangement</i> because <i>an average saving of £100 a year will be +effected</i>,” 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.”</p> + +<p>The total cost, then, of producing a sovereign in 1857 under proper +management was 0·174<i>d.</i>, while under Mr. Graham’s system it would +appear to have been 0·311<i>d.</i> 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<i>s.</i> 4¼<i>d.</i> in 1857, it had reached £1 5<i>s.</i> +11¼<i>d.</i> in the years 1864-66 (<a href="#Page_117">see page 117</a>). +The increased expense thus incurred amounts to 11<i>s.</i> 7<i>d.</i> on each +1,000 coins, or, on the whole amount of that coinage, to £3,280 4<i>s.</i> +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<a id="FNanchor_97_97" href="#Footnote_97_97" class="fnanchor">[97]</a> +pieces, in 1857 the largest number in any one week was +915,506⁠<a id="FNanchor_98_98" href="#Footnote_98_98" class="fnanchor">[98]</a> +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 <i>for effect, not for information</i>. 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,⁠<a id="FNanchor_99_99" href="#Footnote_99_99" class="fnanchor">[99]</a> +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 +<span class="pagenum" id="Page_120">[Pg 120]</span> +6<i>s.</i> per 1,000, or £300 per million +coined. That this should have been so stated is of ill omen,⁠<a id="FNanchor_100_100" href="#Footnote_100_100" class="fnanchor">[100]</a> +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.⁠<a id="FNanchor_101_101" href="#Footnote_101_101" class="fnanchor">[101]</a> +Be this as it may, the difference between 6<i>s.</i> and 2<i>s.</i> +9½<i>d.</i> is sufficient to make men think, for even this trifle +of 3<i>s.</i> 2½<i>d.</i> on 1,000 coins amounts to £908 2<i>s.</i> +6½<i>d.</i> 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<i>s.</i> 10½2<i>d.</i> +per million coined, or 2·386<i>d.</i> per 1,000 pieces coined, so +reducing the cost of these actual coins to £1 0<i>s.</i> 10½<i>d.</i> +and £1 1<i>s.</i> 6<i>d.</i> 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,⁠<a id="FNanchor_102_102" href="#Footnote_102_102" class="fnanchor">[102]</a> +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.</p> + +<p>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<i>s.</i> 10<i>d.</i>, +and, whether the coins be exchanged here or abroad, the reduction must +be borne; whereas, if it were determined to charge the <i>importer</i> +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 +<span class="pagenum" id="Page_121">[Pg 121]</span> +equal, merchants thus save the cost of assaying, which, inclusive of +loss of interest, &c., amounts to 2<i>s.</i> 6<i>d.</i> 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 <i>mintage</i>, 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.</p> + +<p>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.</p> + +<p>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<i>s.</i> per week, to +be increased 1<i>s.</i> 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—</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl"> </td> + <td class="tdc fs_120">£</td> + <td class="tdl"> </td> + <td class="tdl"> </td> + <td class="tdl"> </td> + </tr><tr> + <td class="tdl">Sovereigns</td> + <td class="tdr">0·806</td> + <td class="tdl_wsp">per 100</td> + <td class="tdl_wsp">lbs. troy of</td> + <td class="tdl_wsp">coined money.</td> + </tr><tr> + <td class="tdl">Half Sovereigns</td> + <td class="tdr">1·571</td> + <td class="tdc">”</td> + <td class="tdc" colspan="2">”</td> + </tr><tr> + <td class="tdl">Florins</td> + <td class="tdr">0·555</td> + <td class="tdc">”</td> + <td class="tdc" colspan="2">”</td> + </tr><tr> + <td class="tdl">Shillings</td> + <td class="tdr">0·800</td> + <td class="tdc">”</td> + <td class="tdc" colspan="2">”</td> + </tr><tr> + <td class="tdl">Sixpences</td> + <td class="tdr">1·348</td> + <td class="tdc">”</td> + <td class="tdc" colspan="2">”</td> + </tr><tr> + <td class="tdl">Threepences</td> + <td class="tdr">2·330</td> + <td class="tdc">”</td> + <td class="tdc" colspan="2">”</td> + </tr><tr> + <td class="tdl">Bronze pence</td> + <td class="tdr">7·500</td> + <td class="tdl_wsp"> </td> + <td class="tdl">per ton of</td> + <td class="tdl_wsp">coined money. </td> + </tr><tr> + <td class="tdl"> ”<span class="ws2">halfpence</span></td> + <td class="tdr"> 10·000</td> + <td class="tdc" colspan="2">”</td> + <td class="tdc">”</td> + </tr><tr> + <td class="tdl"> ”<span class="ws2">farthings</span></td> + <td class="tdr">15·000</td> + <td class="tdc" colspan="2">”</td> + <td class="tdc">”</td> + </tr> + </tbody> +</table> + +<p class="no-indent">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. +<span class="pagenum" id="Page_122">[Pg 122]</span></p> + +<p>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:—</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl"> </td> + <td class="tdl"> </td> + <td class="tdc fs_120">£</td> + </tr><tr> + <td class="tdl">For</td> + <td class="tdl_wsp">assays by out-door assayers</td> + <td class="tdr">998·4</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">wages to workmen</td> + <td class="tdr">1,035·0</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">salaries and contingent expenses </td> + <td class="tdr">2,843·0</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">loss of metal by coining</td> + <td class="tdr bb">1,200·0</td> + </tr><tr> + <td class="tdc"> </td> + <td class="tdl_wsp"> </td> + <td class="tdr">£6,076·4</td> + </tr> + </tbody> +</table> + +<p>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.</p> + +<p>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<i>s.</i> 0¼<i>d.</i> 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<i>d.</i> per ounce for the conversion of bullion into coin, +paid by the <i>importer</i> to the Bank of England, and the charge for +mintage will be in addition to that tax.</p> + +<p>A very strong reason against an exorbitant charge may be found in the +<span class="pagenum" id="Page_123">[Pg 123]</span> +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<i>s.</i> 3¾<i>d.</i> 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 <span class="smcap">at a fixed rate in +France</span>, 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<i>d.</i> per ounce made at the Bank when gold is bought.⁠<a id="FNanchor_103_103" href="#Footnote_103_103" class="fnanchor">[103]</a> +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 <i>our proposed debased coinage</i>, each £1,000 +so converted will produce but £990·275, because the 1½<i>d.</i> 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.</p> + + + +<p>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.⁠<a id="FNanchor_104_104" href="#Footnote_104_104" class="fnanchor">[104]</a> +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 +<span class="pagenum" id="Page_124">[Pg 124]</span> +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 <i>London +Gazette</i>, 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 +<span class="pagenum" id="Page_125">[Pg 125]</span> +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 +<i>pounded</i>, that is, weighed <i>en masse</i>, 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,⁠<a id="FNanchor_105_105" href="#Footnote_105_105" class="fnanchor">[105]</a> +determined not to weigh individual pieces of silver money, because +silver coins were mere tokens, but when coins bearing the device of +<span class="allsmcap">FLORINS</span>, and ranging in intrinsic value +from 1<i>s.</i> 6<i>d.</i> to 2<i>s.</i> 9<i>d.</i> irrespective of +extrinsic worth, were returned to the Mint, this economy was soon +abandoned.</p> + +<p>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<a id="FNanchor_106_106" href="#Footnote_106_106" class="fnanchor">[106]</a>:—</p> + +<div class="blockquot fs_90"> +<p>“This gives in a million coined a net loss of £257 7<i>s.</i> +0¾<i>d.</i>; ... 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.</p> + +<p>“A correct estimate of the whole waste in coining is obtained by +combining the returns of the two departments:—</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdc"> </td> + <td class="tdc">£</td> + <td class="tdc"><i>s.</i></td> + <td class="tdc"><i>d.</i></td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl">Loss of melting department</td> + <td class="tdr_wsp">257</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp">0¾</td> + <td class="tdl_wsp">per million.</td> + </tr><tr> + <td class="tdl">Surplus of coining department  </td> + <td class="tdr_wsp bb">50</td> + <td class="tdr_wsp bb">13</td> + <td class="tdr_ws1 bb">0</td> + <td class="tdc">”</td> + </tr><tr> + <td class="tdr_ws1">Difference</td> + <td class="tdr_wsp">206</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp">0¾</td> + <td class="tdc">”</td> + </tr> + </tbody> +</table> + +<p>It thus appears that in 1858-59 the net loss in minting £1,000,000 +of gold was £206 14<i>s.</i> 0¾<i>d.</i>’</p> +</div> + +<p>He then proceeds to show that “the loss on the gold coinage for the +(<i>then</i>) last three years was £172 8<i>s.</i> 11½<i>d.</i>,” 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.” +<span class="pagenum" id="Page_126">[Pg 126]</span></p> + +<p>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.</p> + +<p>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<i>s.</i> +6<i>d.</i> 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<i>s.</i> 3¾<i>d.</i>, 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<i>s.</i> 9¾<i>d.</i> for each £100 coined (<a href="#Page_146">see page 146</a>), +and in addition to this tax he has to pay 1<i>s.</i> 9<i>d.</i> +for each 1,000 coins manufactured for labour, besides the contingent +expenses, including packing, insurance, &c. All expenses must come +within 15<i>s.</i> 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.</p> + +<p>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 +<span class="pagenum" id="Page_127">[Pg 127]</span> +for coming, it makes a clear profit, as is shown by the following +figures—this even under its new system of assay—</p> + +<p class="f120 spa2"><b><span class="smcap">Bank of England Profit.</span></b></p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">By the charge of 1½<i>d.</i> on each ounce of gold  </td> + <td class="tdr">£1605·100</td> + </tr><tr> + <td class="tdl">By the system of absorbing assay fractions</td> + <td class="tdr">166·666</td> + </tr><tr> + <td class="tdl">By the turn of the scale on purchase</td> + <td class="tdr bb">71·339</td> + </tr><tr> + <td class="tdl_ws2">On each million coined</td> + <td class="tdr">£1843·105</td> + </tr> + </tbody> +</table> + +<p>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<i>s.</i> 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.</p> + +<p>I feel that I have produced sufficient evidence to oblige me to +withdraw the opinion I have hitherto held, and which I thus expressed—</p> + +<p class="blockquot fs_90">“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.”</p> + +<p>On the contrary, I now think it is the duty of the Government +<span class="allsmcap">TO AT ONCE COIN BY CONTRACT</span>, as the +cost of such process will be definite, whereas it is now illimitable. +Instead of the tax-payers paying for New Mint buildings, <i>which are +not required</i>, 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, +<span class="pagenum" id="Page_128">[Pg 128]</span></p> + +<p class="blockquot fs_90">“... 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”—</p> + +<p class="no-indent">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.</p> + +<p>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.</p> + +<p>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?</p> + +<p>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.</p> + +<p>The Commissioners seem to have gone out of their way to show their want +<span class="pagenum" id="Page_129">[Pg 129]</span> +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 <i>adjusted</i> daily; but +most commercial people object to <i>adjustment</i>, 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 <a href="#Page_102">table on page 102</a>, +where it will be seen that the amount of gold which is <i>not “poured +into the moulds”</i> varies from £1,132 down to £161, and has, at the +last return, risen steadily to £461, although the gold referred to was +<span class="allsmcap">MELTED IN GRAPHITE CRUCIBLES</span>. At a later +period I will show these facts in greater detail.⁠<a id="FNanchor_107_107" href="#Footnote_107_107" class="fnanchor">[107]</a></p> + +<p>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<a id="FNanchor_108_108" href="#Footnote_108_108" class="fnanchor">[108]</a> +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.</p> + +<p>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 <i>coins</i> 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 <i>extrinsic +value</i>; that is to say, by raising silver whose natural market price +varies⁠<a id="FNanchor_109_109" href="#Footnote_109_109" class="fnanchor">[109]</a> +between 5<i>s.</i> per ounce and 5<i>s.</i> 2<i>d.</i> per ounce to an +artificial value of 5<i>s.</i> 6<i>d.</i> 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<a id="FNanchor_110_110" href="#Footnote_110_110" class="fnanchor">[110]</a> +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 +<span class="pagenum" id="Page_130">[Pg 130]</span> +Mint by the Bank of England for recoinage into new money, piece +for piece, and many of the worn⁠<a id="FNanchor_111_111" href="#Footnote_111_111" class="fnanchor">[111]</a> +pieces represent only half their original extrinsic value. What we call +a shilling is intrinsically worth, when coined, about 10¾<i>d.</i>, but +when it is culled from circulation it is often worth only 6<i>d.</i>, +therefore a loss of 4¾<i>d.</i> 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<a id="FNanchor_112_112" href="#Footnote_112_112" class="fnanchor">[112]</a> +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<i>s.</i> 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<i>s.</i> 10½<i>d.</i> is as 14·16 is to 1 +of silver, which they view as of a value of 5<i>s.</i> 6<i>d.</i> 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 +<span class="pagenum" id="Page_131">[Pg 131]</span> +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.</p> + +<p>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 <a href="#Page_136">pages 136-142</a>.</p> + +<p>In explaining the <a href="#Page_132">table on page 132</a> it +should be noted that the £1,315 9<i>s.</i> 4<i>d.</i>, 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<i>s.</i> +6½<i>d.</i> The same allowance must be made for the melting-house +account in the table on <a href="#Page_134">page 134</a>, when that sum +will become £1,375 12<i>s.</i> 4¾<i>d.</i> instead of £1,067 0<i>s.</i> +11¼<i>d.</i> 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,⁠<a id="FNanchor_113_113" href="#Footnote_113_113" class="fnanchor">[113]</a> +it will be found that the average loss by coining silver between June, +1851, and March, 1857, was £1,013 11<i>s.</i> 2¼<i>d.</i>, whereas +in the next period, between April, 1857, and March, 1860, it fell +to £365 15<i>s.</i> 10½<i>d.</i> This reduction then shows that the +former loss, taken at its lowest, gives evidence of <i>unnecessary</i> +wasteage to the extent of £647 15<i>s.</i> 4<i>d.</i> 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 +<i>dropped from the scissel and drained through the trucks on to the +floor</i>, 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 <span class="allsmcap">HABITUAL LOSS</span> in the +rolling and drag rooms when oil was used very largely, there was now a +<span class="allsmcap">GAIN IN BOTH ROOMS</span>; 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 (<a href="#Page_134">see page 134</a>). +<span class="pagenum" id="Page_132">[Pg 132]</span></p> + +<p class="f120 spa2"><b><span class="smcap">Statement showing the Amount of Silver Coined and<br> +of the Loss attending it in the Coining Department.</span></b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl">Weight of<br>Coinage.</th> + <th class="tdc bl br" colspan="3">Value of Coinage.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">June </td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852</td> + <td class="tdr_wsp bl">314689·050</td> + <td class="tdr_wsp bl">86,539</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">9¼</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">1088196·550</td> + <td class="tdr_wsp bl">299,254</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">0¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">2135071·750</td> + <td class="tdr_wsp bl">587,144</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">7½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">501459·800</td> + <td class="tdr_wsp bl">137,901</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp br">10¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">1138355·000</td> + <td class="tdr_wsp bl">313,047</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">6</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1792800·000</td> + <td class="tdr_wsp bl">493,020</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">1420560·000</td> + <td class="tdr_wsp bl">390,654</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">1449360·000</td> + <td class="tdr_wsp bl">398,574</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860 </td> + <td class="tdr_wsp bl"> 2052720·000</td> + <td class="tdr_wsp bl"> 564,498</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">March</td> + <td class="tdl_wsp">1861</td> + <td class="tdl_wsp">to June</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl">650160·000</td> + <td class="tdr_wsp bl">178,794</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl"> Amount of Loss <br>by Coining.</th> + <th class="tdc bl br" colspan="3">Value of the<br>Silver Lost.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">June </td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">1845·449</td> + <td class="tdr_wsp bl"> 507</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">11½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">2943·025</td> + <td class="tdr_wsp bl">809</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp br">7½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">657·362</td> + <td class="tdr_wsp bl">180</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp br">5¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">1632·957</td> + <td class="tdr_wsp bl">449</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">3¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">2191·367</td> + <td class="tdr_wsp bl">602</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp br">6¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">910·264</td> + <td class="tdr_wsp bl">250</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp br">5½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">834·679</td> + <td class="tdr_wsp bl">232</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp br">2¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">898·837</td> + <td class="tdr_wsp bl">247</td> + <td class="tdr_wsp">3</td> + <td class="tdr_wsp br">7¼</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">March</td> + <td class="tdl_wsp">1861</td> + <td class="tdl_wsp">to June</td> + <td class="tdl_wsp">1861 </td> + <td class="tdr_wsp bl">1357·375</td> + <td class="tdr_wsp bl">373</td> + <td class="tdr_wsp">5</td> + <td class="tdr_wsp br">5½</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl" colspan="3">Value of the<br>Sweep Sold.</th> + <th class="tdc bl" colspan="3">Lost Silver per<br> Million Coined. </th> + <th class="tdc bl br" colspan="3">Sweep per<br> Million Coined. </th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="4"> </td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">June </td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852</td> + <td class="tdr_wsp bl">31</td> <td class="tdr_wsp">12</td> <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp"> </td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">90</td> <td class="tdr_wsp">4</td> <td class="tdr_wsp">10½</td> + <td class="tdr_wsp bl">1,315</td> <td class="tdr_wsp">9</td> <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">315</td> <td class="tdr_wsp">18</td> <td class="tdr_ws1 br">3</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">160</td> <td class="tdr_wsp">12</td> <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">1,378</td> <td class="tdr_wsp">8</td> <td class="tdr_wsp">4¾</td> + <td class="tdr_wsp bl">273</td> <td class="tdr_wsp">11</td> <td class="tdr_wsp br">1¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">69</td> <td class="tdr_wsp">19</td> <td class="tdr_wsp">2¼</td> + <td class="tdr_wsp bl">1,310</td> <td class="tdr_wsp">17</td> <td class="tdr_wsp">11</td> + <td class="tdr_wsp bl">507</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp br">3¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">104</td> <td class="tdr_wsp">5</td> <td class="tdr_wsp">7½</td> + <td class="tdr_wsp bl">1,434</td> <td class="tdr_wsp">9</td> <td class="tdr_wsp">9¼</td> + <td class="tdr_wsp bl">333</td> <td class="tdr_wsp">3</td> <td class="tdr_wsp br">3¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857 </td> + <td class="tdr_wsp bl"> 149</td> <td class="tdr_wsp">10</td> <td class="tdr_wsp">9¼</td> + <td class="tdr_wsp bl">1,223</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">3¾</td> + <td class="tdr_wsp bl">303</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp br">2¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">98</td> <td class="tdr_wsp">1</td> <td class="tdr_ws1">10</td> + <td class="tdr_wsp bl">640</td> <td class="tdr_wsp">15</td> <td class="tdr_wsp">6¾</td> + <td class="tdr_wsp bl">251</td> <td class="tdr_wsp">1</td> <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">125</td> <td class="tdr_wsp">8</td> <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">582</td> <td class="tdr_wsp">2</td> <td class="tdr_ws1">1</td> + <td class="tdr_wsp bl">314</td> <td class="tdr_wsp">13</td> <td class="tdr_wsp br">3¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">10</td> <td class="tdr_wsp">18</td> <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">437</td> <td class="tdr_wsp">17</td> <td class="tdr_wsp">6¼</td> + <td class="tdr_wsp bl">19</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp br">7¼</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">March</td> + <td class="tdl_wsp">1861</td> + <td class="tdl_wsp">to June</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl">24</td> <td class="tdr_wsp">14</td> <td class="tdr_wsp">4½</td> + <td class="tdr_wsp bl">2,087</td> <td class="tdr_wsp">14</td> <td class="tdr_wsp">6¼</td> + <td class="tdr_wsp bl">138</td> <td class="tdr_wsp">5</td> <td class="tdr_wsp br">0½</td> + </tr> + </tbody> +</table> + +<p class="blockquot fs_90">To obtain the true amount of loss or waste, +deduct the value of the sweep from the value of the silver lost.</p> + +<p><span class="pagenum" id="Page_133">[Pg 133]</span></p> + +<p class="f120 spa2"><b><span class="smcap"> +Return from the Royal Mint to<br> an Order of the House of Lords,<br> +dated 17th February, 1870.<br> (The LORD ROSSIE.)</span></b></p> + +<p class="center"><b>COINING DEPARTMENT.</b></p> + +<p class="blockquot fs_90">A <span class="smcap">Statement</span> 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.</p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl">Weight of<br>Coinage.</th> + <th class="tdc bl" colspan="3"> Value of Coinage. </th> + <th class="tdc bl br"> Amount of <br>Waste.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">August</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852</td> + <td class="tdr_wsp bl">314689·050</td> + <td class="tdr_wsp bl">86,539</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl br" rowspan="2">1845·450</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl"> 1088196·550</td> + <td class="tdr_wsp bl">299,254</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">2134891·750</td> + <td class="tdr_wsp bl">587,095</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl br">2943·025</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">501459·800</td> + <td class="tdr_wsp bl">137,901</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp bl br">657·362</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">1138355·000</td> + <td class="tdr_wsp bl">313,047</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl br">1632·957</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1792800·000</td> + <td class="tdr_wsp bl">493,020</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br">2191·367</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">1420560·000</td> + <td class="tdr_wsp bl">390,654</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 bl br">910·264</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">1449360·000</td> + <td class="tdr_wsp bl">398,574</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 bl br">843·679</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">2052720·000</td> + <td class="tdr_wsp bl">564,498</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 bl br">898·837</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl">625714·000</td> + <td class="tdr_wsp bl">172,071</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 bl br" rowspan="2">1032·502</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdr_wsp bl">769680·000</td> + <td class="tdr_wsp bl">211,662</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">532147·610</td> + <td class="tdr_wsp bl">146,340</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1 bl br" rowspan="2">811·466</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">835920·000</td> + <td class="tdr_wsp bl">229,878</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">1936800·000</td> + <td class="tdr_wsp bl">532,620</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 bl br">1100·169</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">1880640·000</td> + <td class="tdr_wsp bl">517,176</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 bl br">906·407</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">1739520·000</td> + <td class="tdr_wsp bl">478,368</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 bl br">891·389</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">961200·000</td> + <td class="tdr_wsp bl">264,330</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 bl br">473·724</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869 </td> + <td class="tdr_wsp bl">597600·000</td> + <td class="tdr_wsp bl">164,340</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 bl br">280·764</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl" colspan="3">Value of<br>Waste.</th> + <th class="tdc bl br" colspan="3"> Value of Sweep <br>recovered.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="4"> </td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">August</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl" rowspan="2"> 507</td> + <td class="tdr_wsp" rowspan="2">10</td> + <td class="tdr_ws1" rowspan="2">0</td> + <td class="tdr_wsp bl" rowspan="2">121</td> + <td class="tdr_wsp" rowspan="2">17</td> + <td class="tdr_wsp br" rowspan="2">6½</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">809</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">160</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">180</td> + <td class="tdr_wsp">15</td> + <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">69</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">2¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">449</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">104</td> + <td class="tdr_wsp">5</td> + <td class="tdr_wsp br">7½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">602</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">149</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp br">9¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">250</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1">5</td> + <td class="tdr_wsp bl">98</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">232</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">125</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">247</td> + <td class="tdr_wsp">3</td> + <td class="tdr_ws1">7</td> + <td class="tdr_wsp bl">10</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1 br">3</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">283</td> + <td class="tdr_wsp" rowspan="2">18</td> + <td class="tdr_ws1" rowspan="2">9</td> + <td class="tdr_wsp bl" rowspan="2">46</td> + <td class="tdr_wsp" rowspan="2">7</td> + <td class="tdr_wsp br" rowspan="2">1½</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl" rowspan="2">223</td> + <td class="tdr_wsp" rowspan="2">3</td> + <td class="tdr_ws1" rowspan="2">1</td> + <td class="tdc bl br" colspan="3" rowspan="2">Nil.</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">302</td> + <td class="tdr_wsp">10</td> + <td class="tdr_ws1">11</td> + <td class="tdr_wsp bl">15</td> + <td class="tdr_wsp">6</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">249</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">16</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">245</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1">8</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">130</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">121</td> + <td class="tdr_wsp">3</td> + <td class="tdr_wsp br">3½</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869</td> + <td class="tdr_wsp bl">77</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1">2</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl" colspan="3">Value of Waste.<br> per £1,000,000. </th> + <th class="tdc bl br" colspan="3">Value of Sweep<br> per £1,000,000. </th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="4"> </td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">August</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl" rowspan="2">1,315</td> + <td class="tdr_wsp" rowspan="2">9</td> + <td class="tdr_wsp" rowspan="2">5</td> + <td class="tdr_wsp bl" rowspan="2">315</td> + <td class="tdr_wsp" rowspan="2">18</td> + <td class="tdr_wsp br" rowspan="2">1</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">1,378</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl">273</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">1,310</td> + <td class="tdr_wsp">18</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp bl">507</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp br">3</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">1,434</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">333</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">3</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1,222</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl">303</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp br">2</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">640</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl">251</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">582</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp bl">314</td> + <td class="tdr_wsp">13</td> + <td class="tdr_wsp br">3</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">437</td> + <td class="tdr_wsp">17</td> + <td class="tdr_wsp">5</td> + <td class="tdr_wsp bl">19</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp br">7</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">739</td> + <td class="tdr_wsp" rowspan="2">18</td> + <td class="tdr_wsp" rowspan="2">8</td> + <td class="tdr_wsp bl" rowspan="2">120</td> + <td class="tdr_wsp" rowspan="2">16</td> + <td class="tdr_wsp br" rowspan="2">0</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl" rowspan="2">593</td> + <td class="tdr_wsp" rowspan="2">3</td> + <td class="tdr_wsp" rowspan="2">0</td> + <td class="tdc bl br" colspan="3" rowspan="2">Nil.</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">568</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl">28</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">481</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl">31</td> + <td class="tdr_wsp">16</td> + <td class="tdr_wsp br">9</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">512</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp">8</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">492</td> + <td class="tdr_wsp">16</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp bl">458</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp br">8</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869</td> + <td class="tdr_wsp bl">469</td> + <td class="tdr_wsp">16</td> + <td class="tdr_wsp">2</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdr_wsp" colspan="10"><span class="smcap">C. W. FREMANTLE, Deputy Master and Comptroller.</span></td> + </tr><tr> + <td class="tdl_wsp" colspan="10"><span class="smcap">Royal Mint</span>, <i>2nd March, 1870</i>.</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_134">[Pg 134]</span></p> + +<p class="f120 spa2"><b><span class="smcap"> Statement showing +the Amount of Silver Coined<br> and of the Loss attending its +Manipulation<br> in the Melting Department.</span></b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl">Weight of<br> Coinage.</th> + <th class="tdc bl br" colspan="3">Value of Coinage</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">June </td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852</td> + <td class="tdr_wsp bl">314689·050</td> + <td class="tdr_wsp bl">86,539</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">9¼</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">1088196·550</td> + <td class="tdr_wsp bl">299,254</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">0¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">2135071·750</td> + <td class="tdr_wsp bl">587,144</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">7½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">501459·800</td> + <td class="tdr_wsp bl">137,901</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp br">10¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">1138355·000</td> + <td class="tdr_wsp bl">313,047</td> + <td class="tdr_wsp">12</td> + <td class="tdr_ws1 br">6</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1792800·000</td> + <td class="tdr_wsp bl">493,020</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">1420560·000</td> + <td class="tdr_wsp bl">390,654</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">1449360·000</td> + <td class="tdr_wsp bl">398,574</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl"> 2052720·000</td> + <td class="tdr_wsp bl"> 564,499</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">March</td> + <td class="tdl_wsp">1861</td> + <td class="tdl_wsp">to June</td> + <td class="tdl_wsp">1861 </td> + <td class="tdr_wsp bl">650160·000</td> + <td class="tdr_wsp bl">78,794</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">0</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl"> Amount of <br>Loss by<br>Melting</th> + <th class="tdc bl" colspan="3">Value of the<br>Silver Lost.</th> + <th class="tdc bl br" colspan="3">Value of<br> Sweep Sold.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">June</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdr_wsp br"> </td> + <td class="tdr_wsp bl">36</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">1</td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">1496·945</td> + <td class="tdr_wsp bl">411</td> + <td class="tdr_wsp">13</td> + <td class="tdr_wsp br">2¼</td> + <td class="tdr_wsp bl">111</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">4½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">1814·808</td> + <td class="tdr_wsp bl">499</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">5¼</td> + <td class="tdr_wsp bl">143</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">882·870</td> + <td class="tdr_wsp bl">242</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp br">9½</td> + <td class="tdr_wsp bl">187</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">519·069</td> + <td class="tdr_wsp bl">142</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">10½</td> + <td class="tdr_wsp bl">144</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp br">2¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">2912·149</td> + <td class="tdr_wsp bl">800</td> + <td class="tdr_wsp">16</td> + <td class="tdr_wsp br">9¾</td> + <td class="tdr_wsp bl">151</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp br">4¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">1001·676</td> + <td class="tdr_wsp bl">275</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">2½</td> + <td class="tdr_wsp bl">100</td> + <td class="tdr_wsp">13</td> + <td class="tdr_wsp br">6¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">+733·101</td> + <td class="tdr_wsp bl"> +201</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp br">0¾</td> + <td class="tdr_wsp bl"> 115</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">199·288</td> + <td class="tdr_wsp bl">54</td> + <td class="tdr_wsp">16</td> + <td class="tdr_ws1 br">1</td> + <td class="tdr_wsp bl">101</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1 br">8</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">March</td> + <td class="tdl_wsp">1861</td> + <td class="tdl_wsp">to June</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl">238·495</td> + <td class="tdr_wsp bl">65</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp br">10¾</td> + <td class="tdr_wsp bl">49</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp br">4½</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date—Financial Year.</th> + <th class="tdc bl" colspan="3">Value of<br> Lost Silver<br>per Million<br> Coined.</th> + <th class="tdc bl br" colspan="3"> Value of<br> Sweep<br>per Million<br> Coined.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="4"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">June</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdc bl br" colspan="3"> </td> + </tr><tr> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">1,067</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp br">11¼</td> + <td class="tdr_wsp bl">383</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1 br">1</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">849</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">11¾</td> + <td class="tdr_wsp bl">243</td> + <td class="tdr_wsp">15</td> + <td class="tdr_ws1 br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">1,760</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp br">11¾</td> + <td class="tdr_wsp bl">1,363</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">456</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp br">7½</td> + <td class="tdr_wsp bl">460</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp br">5¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1,624</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp br">1¾</td> + <td class="tdr_wsp bl">307</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp br">6¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">705</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">6½</td> + <td class="tdr_wsp bl">257</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">2¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">+505</td> + <td class="tdr_wsp">16</td> + <td class="tdr_wsp br">2½</td> + <td class="tdr_wsp bl">289</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">10¾</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">97</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">8¼</td> + <td class="tdr_wsp bl">179</td> + <td class="tdr_wsp">13</td> + <td class="tdr_ws1 br">9</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">March</td> + <td class="tdl_wsp">1861</td> + <td class="tdl_wsp">to June</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl">366</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp br">3¼</td> + <td class="tdr_wsp bl">275</td> + <td class="tdr_wsp">5</td> + <td class="tdr_wsp br">7¼</td> + </tr> + </tbody> +</table> + +<p class="blockquot fs_90">To obtain the true amount of loss, deduct +the value of the sweep from the value of the silver lost.</p> + +<p><span class="pagenum" id="Page_135">[Pg 135]</span></p> + +<p class="f120 spa2"><b><span class="smcap">Return from the Royal Mint to an<br> +Order of the House of Lords,<br> dated 17th February, 1870.<br>(The LORD ROSSIE.)</span></b></p> + +<p class="center">MELTING DEPARTMENT.</p> + +<div class="blockquot"> +<p class="neg-indent">A <span class="smcap">Statement</span> 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.</p> +</div> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl">Weight of<br>Coinage.</th> + <th class="tdc bl" colspan="3"> Value of Coinage. </th> + <th class="tdc bl br"> Amount of <br>Waste.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="4"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">August</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852</td> + <td class="tdr_wsp bl">314689·050</td> + <td class="tdr_wsp bl">86,539</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl br" rowspan="2">1496·945</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + <td class="tdr_wsp bl">1088196·550</td> + <td class="tdr_wsp bl">299,254</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">2134891·750</td> + <td class="tdr_wsp bl">587,095</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl br">1814·808</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">501459·800</td> + <td class="tdr_wsp bl">137,901</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp bl br">882·870</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">1138355·000</td> + <td class="tdr_wsp bl">313,047</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl br">519·069</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1792800·000</td> + <td class="tdr_wsp bl">493,020</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br">2912·149</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">1420560·000</td> + <td class="tdr_wsp bl">390,654</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br">1001·676</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">1449360·000</td> + <td class="tdr_wsp bl">398,574</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br">484·490</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">2052720·000</td> + <td class="tdr_wsp bl">564,498</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br">199·288</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl">625714·000</td> + <td class="tdr_wsp bl">172,071</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br" rowspan="2">*+20·516</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdr_wsp bl">769680·000</td> + <td class="tdr_wsp bl">211,662</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl">532147·610</td> + <td class="tdr_wsp bl">146,340</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl br" rowspan="2">+48·918</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdr_wsp bl">835920·000</td> + <td class="tdr_wsp bl">229,878</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">1936800·000</td> + <td class="tdr_wsp bl">532,620</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br">1516·266</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">1880640·000</td> + <td class="tdr_wsp bl">517,176</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br">3296·589</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl"> 1739520·000</td> + <td class="tdr_wsp bl">478,368</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br">2923·255</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">961200·000</td> + <td class="tdr_wsp bl">264,330</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br">1526·136</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869 </td> + <td class="tdr_wsp bl">597600·000</td> + <td class="tdr_wsp bl">164,340</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl br">599·329</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl" colspan="3"> Value of Waste. </th> + <th class="tdc bl br" colspan="3"> Value of Sweep <br>recovered.</th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="4"> </td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">August</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl" rowspan="2">411</td> + <td class="tdr_wsp" rowspan="2">13</td> + <td class="tdr_wsp" rowspan="2">2</td> + <td class="tdr_wsp bl" rowspan="2">155</td> + <td class="tdr_wsp" rowspan="2">19</td> + <td class="tdr_wsp br" rowspan="2">5½</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">499</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1">5</td> + <td class="tdr_wsp bl">143</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">242</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl">187</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">142</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp bl">144</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp br">2¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">800</td> + <td class="tdr_wsp">16</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl">151</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp br">4¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">275</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp">3</td> + <td class="tdr_wsp bl">100</td> + <td class="tdr_wsp">13</td> + <td class="tdr_wsp br">6¼</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">133</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">115</td> + <td class="tdr_wsp">4</td> + <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">54</td> + <td class="tdr_wsp">16</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp bl">101</td> + <td class="tdr_wsp">8</td> + <td class="tdr_ws1 br">8</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">5</td> + <td class="tdr_wsp" rowspan="2">12</td> + <td class="tdr_wsp" rowspan="2">10</td> + <td class="tdr_wsp bl" rowspan="2">203</td> + <td class="tdr_wsp" rowspan="2">8</td> + <td class="tdr_wsp br" rowspan="2">10½</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl" rowspan="2">13</td> + <td class="tdr_wsp" rowspan="2">9</td> + <td class="tdr_wsp" rowspan="2">1</td> + <td class="tdr_wsp bl" rowspan="2">120</td> + <td class="tdr_wsp" rowspan="2">6</td> + <td class="tdr_ws1 br" rowspan="2">2</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">416</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl">278</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">1½</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">906</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp">3</td> + <td class="tdr_wsp bl">104</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">803</td> + <td class="tdr_wsp">17</td> + <td class="tdr_wsp">11</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">419</td> + <td class="tdr_wsp">13</td> + <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl">347</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp br">3½</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869</td> + <td class="tdr_wsp bl">164</td> + <td class="tdr_wsp">16</td> + <td class="tdr_wsp">3</td> + <td class="tdr_wsp bl">31</td> + <td class="tdr_wsp">0</td> + <td class="tdr_ws1 br">11</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="4">Date.</th> + <th class="tdc bl" colspan="3">Value of Waste<br> per £1,000,000. </th> + <th class="tdc bl br" colspan="3">Value of Sweep<br> per £1,000,000. </th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl" colspan="4"> </td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">August</td> + <td class="tdl_wsp">1851</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1852 </td> + <td class="tdr_wsp bl" rowspan="2">1,067</td> + <td class="tdr_wsp" rowspan="2">0</td> + <td class="tdr_wsp" rowspan="2">10</td> + <td class="tdr_wsp bl" rowspan="2">404</td> + <td class="tdr_wsp" rowspan="2">5</td> + <td class="tdr_wsp br" rowspan="2">9</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">April</td> + <td class="tdl_wsp">1852</td> + <td class="tdl_wsp">to March</td> + <td class="tdl_wsp">1853</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1853</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdr_wsp bl">850</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">243</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp br">4</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1854</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdr_wsp bl">1,760</td> + <td class="tdr_wsp">11</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">1,363</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1855</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdr_wsp bl">455</td> + <td class="tdr_wsp">19</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">460</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp br">3</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdr_wsp bl">1,624</td> + <td class="tdr_wsp">7</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">307</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp br">6</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1857</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdr_wsp bl">705</td> + <td class="tdr_wsp">2</td> + <td class="tdr_ws1">7</td> + <td class="tdr_wsp bl">257</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp br">2</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1858</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdr_wsp bl">334</td> + <td class="tdr_wsp">5</td> + <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">289</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp br">10</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdr_wsp bl">97</td> + <td class="tdr_wsp">1</td> + <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">179</td> + <td class="tdr_wsp">13</td> + <td class="tdr_wsp br">9</td> + </tr><tr class="bt"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdr_wsp bl" rowspan="2">14</td> + <td class="tdr_wsp" rowspan="2">14</td> + <td class="tdr_ws1" rowspan="2">0</td> + <td class="tdr_wsp bl" rowspan="2">530</td> + <td class="tdr_wsp" rowspan="2">3</td> + <td class="tdr_wsp br" rowspan="2">3</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1861</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1862</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1862</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdr_wsp bl" rowspan="2">35</td> + <td class="tdr_wsp" rowspan="2">15</td> + <td class="tdr_ws1" rowspan="2">2</td> + <td class="tdr_wsp bl" rowspan="2">319</td> + <td class="tdr_wsp" rowspan="2">15</td> + <td class="tdr_wsp br" rowspan="2">7</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1863</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1864</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1864</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdr_wsp bl">782</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">522</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp br">0</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1865</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdr_wsp bl">1,752</td> + <td class="tdr_wsp">18</td> + <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">201</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp br">9</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1866</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdr_wsp bl">1,680</td> + <td class="tdr_wsp">9</td> + <td class="tdr_ws1">11</td> + <td class="tdc bl br" colspan="3">Nil.</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1867</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdr_wsp bl">1,587</td> + <td class="tdr_wsp">14</td> + <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl">1,313</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp br">3</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl_wsp">1868</td> + <td class="tdc">”</td> + <td class="tdl_wsp">1869</td> + <td class="tdr_wsp bl">1,002</td> + <td class="tdr_wsp">17</td> + <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">188</td> + <td class="tdr_wsp">18</td> + <td class="tdr_wsp br">2</td> + </tr> + </tbody> +</table> + +<p class="blockquot fs_90"><i>Note.</i>—The Financial Years 1860/1861 +1861/1862 1862/1863 1863/1864 exhibit a <i>gain</i> in the Melting +Department.</p> + +<div class="blockquot"> +<p class="author">C. W. FREMANTLE,  <br> +<span class="smcap">Deputy Master and Comptroller Royal Mint</span>,</p> + +<p><i>2nd March, 1870</i>.</p> +</div> + +<p><span class="pagenum" id="Page_136">[Pg 136]</span> +By similar treatment to that applied to the <a href="#Page_132">table on page 132</a> +this will yield an average loss between June, 1851, and March, 1857, of +£698 13<i>s.</i> 3<i>d.</i> per million coined; whereas in the period +from April, 1857, to March, 1860, there is a gain by melting of £87 +13<i>s.</i> 3<i>d.</i> 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<i>s.</i> 2½<i>d.</i> 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<i>s.</i> 8¼<i>d.</i>, 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<i>s.</i> 10¼<i>d.</i> appears to +have been made; and once more, in 1859-60 a plus of £82 12<i>s.</i> +0¾<i>d.</i> 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 (<a href="#Page_131">see page 131</a>).</p> + +<p>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:—</p> + +<table class="spb1"> + <thead><tr> + <th class="tdc" colspan="2">Given to Melt.</th> + </tr></thead> + <tbody><tr> + <td class="tdc"> </td> + <td class="tdc">Ounces.</td> + </tr><tr> + <td class="tdl">Ingots and alloy</td> + <td class="tdr">434,393·548</td> + </tr><tr> + <td class="tdl">Scissel</td> + <td class="tdr">457,032·810</td> + </tr><tr> + <td class="tdl">Clean ends</td> + <td class="tdr">1,440·000</td> + </tr><tr> + <td class="tdl">Extra alloy</td> + <td class="tdr">499·539</td> + </tr><tr> + <td class="tdl">Plus on weight charged by Mint Office</td> + <td class="tdr bb">51·680</td> + </tr><tr> + <td class="tdl"> </td> + <td class="tdr">893,417·573</td> + </tr><tr> + <td class="tdc" colspan="2"> <br><b>Produced by Melting.</b></td> + </tr><tr> + <td class="tdc"> </td> + <td class="tdc">Ounces.</td> + </tr><tr> + <td class="tdl">Bars</td> + <td class="tdr">889,974·690</td> + </tr><tr> + <td class="tdl">Ends</td> + <td class="tdr">2,154·750</td> + </tr><tr> + <td class="tdl">Grains</td> + <td class="tdr">462·050</td> + </tr><tr> + <td class="tdl">Assays</td> + <td class="tdr">114·230</td> + </tr><tr> + <td class="tdl">Loss by melting</td> + <td class="tdr bb">711·853</td> + </tr><tr> + <td class="tdl"> </td> + <td class="tdr">893,417·573</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_137">[Pg 137]</span> +To analyse this loss—for by weight it was absolute—will give much +information, and the details of proportionate loss were as follows:—</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl"> </td> + <td class="tdr fs_90"><b>On each Million<br>Ounces Melted.</b></td> + </tr><tr> + <td class="tdl">On ingots of silver (produced from lead by Pattinson’s</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl_ws2">process) and alloy for the manufacture of medals</td> + <td class="tdr">947·91</td> + </tr><tr> + <td class="tdl">On ingots, 5-franc pieces, and alloy</td> + <td class="tdr">263·85</td> + </tr><tr> + <td class="tdl">On ingots, 5-franc pieces, scissel, and alloy</td> + <td class="tdr">418·40</td> + </tr><tr> + <td class="tdl">Worn coin (culled from circulation) and scissel</td> + <td class="tdr">710·06</td> + </tr><tr> + <td class="tdl">Scissel melted by itself</td> + <td class="tdr bb">1,036·45</td> + </tr><tr> + <td class="tdl_ws2">Mean Loss</td> + <td class="tdr">675·34</td> + </tr> + </tbody> +</table> + +<p>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<a id="FNanchor_114_114" href="#Footnote_114_114" class="fnanchor">[114]</a> +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.</p> + +<p>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;⁠<a id="FNanchor_115_115" href="#Footnote_115_115" class="fnanchor">[115]</a> +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 +<span class="pagenum" id="Page_138">[Pg 138]</span> +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 (<a href="#Page_35">see page 35</a>) +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<i>s.</i>,⁠<a id="FNanchor_116_116" href="#Footnote_116_116" class="fnanchor">[116]</a> +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<i>s.</i> +7<i>d.</i>, subsequently explained, becomes an absolute loss, by +melting weighed quantities, of £337 15<i>s.</i> 5<i>d.</i> 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.</p> + +<p>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 +<span class="pagenum" id="Page_139">[Pg 139]</span> +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.</p> + +<p>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:—</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl"> </td> + <td class="tdr fs_90"><b>Ounces.</b></td> + </tr><tr> + <td class="tdl">By simple sweating</td> + <td class="tdr">20·00</td> + </tr><tr> + <td class="tdl">By detaching the slag and oxide from the pot</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl_ws2">and fusing it with salt</td> + <td class="tdr">24·70</td> + </tr><tr> + <td class="tdl">By separating the remaining silver from the pin-holes </td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl_ws2">in the pot by means of diluted acid</td> + <td class="tdr bb">4·60</td> + </tr><tr> + <td class="tdl"> </td> + <td class="tdr">49·30</td> + </tr> + </tbody> +</table> + +<p>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<i>s.</i> 6<i>d.</i> an ounce, would be worth £54 4<i>s.</i> +7<i>d.</i>, and by this amount may that loss of £392 be reduced, when +the actual loss will be £337 15<i>s.</i> 5<i>d.</i>, 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<i>s.</i> 10¾<i>d.</i>;⁠<a id="FNanchor_117_117" href="#Footnote_117_117" class="fnanchor">[117]</a> +and, deducting this, the final loss is £48 12<i>s.</i> 6¼<i>d.</i> +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<i>s.</i> 3<i>d.</i> 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 +<span class="pagenum" id="Page_140">[Pg 140]</span> +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<i>s.</i> 8¾<i>d.</i>, the difference +between £48 12<i>s.</i> 6¼<i>d.</i> and £698 13<i>s.</i> 3<i>d.</i>, to +the wasteage previously explained,⁠<a id="FNanchor_118_118" href="#Footnote_118_118" class="fnanchor">[118]</a> +when that sum will be raised to £1,297 16<i>s.</i> 0¾<i>d.</i> on each +million of silver coined.</p> + +<p>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<i>s.</i> 10¾<i>d.</i> 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<i>s.</i> +3½<i>d.</i> 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.</p> + +<p>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,⁠<a id="FNanchor_119_119" href="#Footnote_119_119" class="fnanchor">[119]</a> +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, +<span class="pagenum" id="Page_141">[Pg 141]</span> +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.</p> + +<p>If then, as has been shown, there is a final loss of £411 2<i>s.</i> +6<i>d.</i> on each million of silver melted, we must now determine +that this sum amounts to £721 5<i>s.</i> 5½<i>d.</i> on each million +pounds sterling <i>coined</i>; and since by coining a loss is sustained +equal to £365 15<i>s.</i> 10½<i>d.</i>, the total final loss is no +less than £1,132 7<i>s.</i> 11½<i>d.</i> per million pounds sterling +of silver coined. Such being the facts ascertained by the scales, we +find that the loss by <span class="allsmcap">ACCOUNT</span> is returned at +£365 15<i>s.</i> 10½<i>d.</i> for the coining department, while, at the same +period, the melting-house account shows a gain of £87 13<i>s.</i> 3<i>d.</i>, +which, deducted from the loss of the coining department, gives a final +loss equal to £278 2<i>s.</i> 7½<i>d.</i>, as against, in the former +period, a loss by coining of £1,013 11<i>s.</i> 2½<i>d.</i>, and by +melting of £698 13<i>s.</i> 3<i>d.</i>, or a total final sum of £1,712 +4<i>s.</i> 5½<i>d.</i> The difference, then, between these two final +sums, or £1,434 1<i>s.</i> 10<i>d.</i>, 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<i>s.</i> 8<i>d.</i> for each £100 coined, while the French contract +to coin each £100 for 15<i>s.</i>, 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<i>s.</i> +5½<i>d.</i>, 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<i>s.</i> 1<i>d.</i>, and as the sweep sold for £164 +16<i>s.</i> 0½<i>d.</i> per million melted, the final loss would be +but £15 3<i>s.</i> 11½<i>d.</i> 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 <i>that loss is +<span class="pagenum" id="Page_142">[Pg 142]</span> +so determinate</i> that it can be calculated to a nicety, and any +figure obtained beyond that <i>calculated</i> 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 <span class="allsmcap">UNNECESSARY WASTE IS AGAIN PERMITTED</span>, +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.</p> + +<p>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,⁠<a id="FNanchor_120_120" href="#Footnote_120_120" class="fnanchor">[120]</a> +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.</p> + +<p>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 +<span class="pagenum" id="Page_143">[Pg 143]</span> +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.</p> + +<p>With bullion thus manipulated I have shown that the Royal Mint also +made a gain, but such gain is not real (see pages <a href="#Page_136">136</a>, +<a href="#Page_137">137</a>, <a href="#Page_138">138</a>), 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.</p> + +<p>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<i>s.</i> 5½<i>d.</i> 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<i>s.</i> 8<i>d.</i>, while that by coining is £1,949 9<i>s.</i> +6<i>d.</i>,⁠<a id="FNanchor_121_121" href="#Footnote_121_121" class="fnanchor">[121]</a> +or a final loss of no less than £2,040 10<i>s.</i> 2<i>d.</i></p> + +<p><span class="pagenum" id="Page_144">[Pg 144]</span> +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 <a href="#Page_133">page 133</a>, +while that demonstrating the facts as regards melting will be found +on <a href="#Page_135">page 135</a>.</p> + +<p>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.</p> + +<p>I propose to submit the following abstract from the return on <a href="#Page_135">page 135</a>, +and thus bring into view <i>facts</i> recorded by the Mint Officials, +that they may be contrasted with <i>opinions</i> 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.</p> + +<table class="spb1"> + <thead><tr class="bt"> + <th class="tdc bl bb" colspan="3">Value of Waste<br> per £1,000,000. </th> + <th class="tdc bl"> </th> + <th class="tdc bl bb" colspan="3">Value of Sweep<br> per £1,000,000. </th> + <th class="tdc bl"> </th> + <th class="tdc bl br bb" colspan="3">Final Loss by<br> Melting Silver. </th> + </tr></thead> + <tbody><tr> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl"> </td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl"> </td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdr_wsp bl">782</td> <td class="tdr_wsp">17</td> <td class="tdr_ws1">4</td> + <td class="tdc bl" rowspan="5">Deduct<br> Value<br> of<br> Sweep. </td> + <td class="tdr_wsp bl">522</td> <td class="tdr_wsp">1</td> <td class="tdr_ws1">10</td> + <td class="tdc bl" rowspan="5">The<br> Result <br> is a</td> + <td class="tdr_wsp bl">260</td> <td class="tdr_wsp">15</td> <td class="tdr_ws1 br">6</td> + </tr><tr> + <td class="tdr_wsp bl">1,752</td> <td class="tdr_wsp">18</td> <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">211</td> <td class="tdr_wsp">12</td> <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl">1,541</td> <td class="tdr_wsp">5</td> <td class="tdr_ws1 br">5</td> + </tr><tr> + <td class="tdr_wsp bl">1,680</td> <td class="tdr_wsp">9</td> <td class="tdr_ws1">11</td> + <td class="tdc bl" colspan="3">Nil.</td> + <td class="tdr_wsp bl">1,680</td> <td class="tdr_wsp">9</td> <td class="tdr_ws1 br">11</td> + </tr><tr> + <td class="tdr_wsp bl">1,587</td> <td class="tdr_wsp">14</td> <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl">1,313</td> <td class="tdr_wsp">11</td> <td class="tdr_ws1">3</td> + <td class="tdr_wsp bl">274</td> <td class="tdr_wsp">3</td> <td class="tdr_ws1 br">6</td> + </tr><tr class="bb"> + <td class="tdr_wsp bl">1,002</td> <td class="tdr_wsp">17</td> <td class="tdr_ws1">6</td> + <td class="tdr_wsp bl">188</td> <td class="tdr_wsp">18</td> <td class="tdr_ws1">2</td> + <td class="tdr_wsp bl">813</td> <td class="tdr_wsp">19</td> <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl" colspan="8">Total Loss divided by 5 years</td> + <td class="tdr_wsp bb">4,570</td> <td class="tdr_wsp bb">13</td> <td class="tdr_ws1 bb br">8</td> + </tr><tr class="bb"> + <td class="tdc bl" colspan="8">Gives the Average Loss by Melting Silver</td> + <td class="tdr_wsp">916</td> <td class="tdr_wsp">2</td> <td class="tdr_wsp br">8¾</td> + </tr> + </tbody> +</table> + +<p>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 <i>it is not excessive</i>. I should advise Mr. +Roberts to return to the use of wrought-iron pots and pay proper +attention to the melting, <span class="smcap">for I have proved</span> that £100 on a +million sterling is as much waste as should <span class="allsmcap">LEGITIMATELY</span> +arise, and Colonel Smith confirms my determinations, as will be seen at +<a href="#Page_140">pages 140-141</a>. If these officers will pay sufficient attention to their +business, they need not fear the variations of assay pointed out by +<span class="smcap">Levol</span>. 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? +<span class="pagenum" id="Page_145">[Pg 145]</span> +The actual value lost is £4,580 14<i>s.</i> 6<i>d.</i>, +sufficient to make four immense ingots, which would surely stop the +draught of any chimney in the Mint.</p> + +<p>As this return has yielded matter for comment, I will refer briefly to +that which exhibits the additional loss by coining, and shown on <a href="#Page_133">page 133</a>, +the following abstract for the past five years will suffice.</p> + +<table class="spb1"> + <thead><tr class="bt"> + <th class="tdc bl bb" colspan="3">Value of Waste<br> per £1,000,000. </th> + <th class="tdc bl"> </th> + <th class="tdc bl bb" colspan="3">Value of Sweep<br> per £1,000,000. </th> + <th class="tdc bl"> </th> + <th class="tdc bl br bb" colspan="3">Final Loss by<br> Coining Silver. </th> + </tr></thead> + <tbody><tr> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl"> </td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl"> </td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdr_wsp bl">568</td> <td class="tdr_wsp">0</td> <td class="tdr_ws1">9</td> + <td class="tdc bl" rowspan="5">Deduct<br> Value<br> of<br> Sweep. </td> + <td class="tdr_wsp bl">28</td> <td class="tdr_wsp">15</td> <td class="tdr_ws1">7</td> + <td class="tdc bl" rowspan="5">The<br> Result <br> is a</td> + <td class="tdr_wsp bl">539</td> <td class="tdr_wsp">5</td> <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdr_wsp bl">481</td> <td class="tdr_wsp">19</td> <td class="tdr_ws1">4</td> + <td class="tdr_wsp bl">31</td> <td class="tdr_wsp">16</td> <td class="tdr_ws1">9</td> + <td class="tdr_wsp bl">450</td> <td class="tdr_wsp">2</td> <td class="tdr_ws1 br">7</td> + </tr><tr> + <td class="tdr_wsp bl">512</td> <td class="tdr_wsp">8</td> <td class="tdr_ws1">8</td> + <td class="tdc bl" colspan="3">Nil.</td> + <td class="tdr_wsp bl">512</td> <td class="tdr_wsp">8</td> <td class="tdr_ws1 br">8</td> + </tr><tr> + <td class="tdr_wsp bl">492</td> <td class="tdr_wsp">16</td> <td class="tdr_ws1">11</td> + <td class="tdr_wsp bl">458</td> <td class="tdr_wsp">7</td> <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl">34</td> <td class="tdr_wsp">9</td> <td class="tdr_ws1 br">3</td> + </tr><tr class="bb"> + <td class="tdr_wsp bl">469</td> <td class="tdr_wsp">16</td> <td class="tdr_ws1">2</td> + <td class="tdc bl" colspan="3">Nil.</td> + <td class="tdr_wsp bl">469</td> <td class="tdr_wsp">16</td> <td class="tdr_ws1 br">2</td> + </tr><tr> + <td class="tdc bl" colspan="8">Total Loss divided by 5 years</td> + <td class="tdr_wsp bb">2,006</td> <td class="tdr_wsp bb">1</td> <td class="tdr_ws1 bb br">10</td> + </tr><tr class="bb"> + <td class="tdc bl" colspan="8">Gives the Average Loss by Coining Silver</td> + <td class="tdr_wsp">401</td> <td class="tdr_wsp">4</td> <td class="tdr_wsp br">4¾</td> + </tr> + </tbody> +</table> + +<p>Whereas then the loss from 1851 to 1857 averaged, as I have shown on +<a href="#Page_131">page 131</a>, £1,013 11<i>s.</i> 2¼<i>d.</i>, and fell under +my management in the period between 1857 and 1860 to £365 15<i>s.</i> 10½<i>d.</i>, +it has now again risen to £401 4<i>s.</i> 4<i>d.</i>—a steady increase +at the rate of 10 per cent., which seems unreasonable.</p> + +<p>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.</p> + +<p>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,</p> + +<p class="blockquot fs_90">“<span class="smcap">Lord Kinnaird</span> +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.”</p> + +<p><span class="pagenum" id="Page_146">[Pg 146]</span> +I again quote Hansard’s Debates, 24th March, 1870:—</p> + +<div class="blockquot fs_90"> +<p>“<span class="smcap">Lord Kinnaird</span> 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....</p> + +<p>“The <span class="smcap">Marquess of Lansdowne</span> 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.”</p> +</div> + +<p>Again, on the 18th July, I also quote from Hansard’s Debates:—</p> + +<p class="center spa2">The Management of the Mint.—Motion for a select Committee.</p> + +<div class="blockquot fs_90"> +<p>“<span class="smcap">Lord Kinnaird</span>: 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<i>s.</i> 1<i>d.</i> or 5<i>s.</i> 1⅜<i>d.</i> 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 +<span class="pagenum" id="Page_147">[Pg 147]</span> +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<i>s.</i> to 10<i>s.</i> 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.</p> + +<p>The <span class="smcap">Marquess of Lansdowne</span>: 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 +<span class="pagenum" id="Page_148">[Pg 148]</span> +sure therefore, the noble Lord is under a misapprehension⁠<a id="FNanchor_122_122" href="#Footnote_122_122" class="fnanchor">[122]</a> +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<i>s.</i> 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.</p> +</div> + +<p>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 <a href="#Page_197">pages 197-198</a>. +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.</p> + +<p>That Lord Kinnaird does not confound <i>loss on the coinage</i> +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 <i>coined money</i> was obtained +by <i>coining</i> £620,031 of silver purchased for coining, giving +£27,033 as a clear profit for that especial year.</p> + +<p>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 (<a href="#Page_5">shown on page 5</a> +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.</p> + +<p>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. +<span class="pagenum" id="Page_149">[Pg 149]</span></p> + +<table class="spb1 spa2"> + <thead><tr class="bt bb"> + <th class="tdc bl"> Date. </th> + <th class="tdc bl">Total Value of<br>Silver Coined.</th> + <th class="tdc bl">Real Cost or<br>Value of Metal.</th> + <th class="tdc bl">Profit<br>Realised.</th> + <th class="tdc bl br">Loss<br> Sustained. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc bl br fs_120">£</td> + </tr><tr> + <td class="tdc bl">1860</td> + <td class="tdc bl">218,403</td> + <td class="tdc bl">222,981</td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> 4,577</td> + </tr><tr> + <td class="tdc bl">1861</td> + <td class="tdc bl">209,484</td> + <td class="tdc bl">215,029</td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> 5,545</td> + </tr><tr> + <td class="tdc bl">1862</td> + <td class="tdc bl">148,518</td> + <td class="tdc bl">159,948</td> + <td class="tdc bl"> </td> + <td class="tdc bl br">11,429</td> + </tr><tr> + <td class="tdc bl">1863</td> + <td class="tdc bl">161,172</td> + <td class="tdc bl">171,855</td> + <td class="tdc bl"> </td> + <td class="tdc bl br">10,688</td> + </tr><tr> + <td class="tdc bl">1864</td> + <td class="tdc bl">535,194</td> + <td class="tdc bl">521,003</td> + <td class="tdc bl">14,190</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdc bl">1865</td> + <td class="tdc bl">501,732</td> + <td class="tdc bl">483,861</td> + <td class="tdc bl">17,870</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdc bl">1866</td> + <td class="tdc bl">493,416</td> + <td class="tdc bl">486,113</td> + <td class="tdc bl"> 7,302</td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdc bl">1867</td> + <td class="tdc bl">193,842</td> + <td class="tdc bl">195,445</td> + <td class="tdc bl"> </td> + <td class="tdc bl br"> 1,603</td> + </tr><tr> + <td class="tdc bl">1868</td> + <td class="tdc bl bb">301,356</td> + <td class="tdc bl bb">312,252</td> + <td class="tdc bl bb"> </td> + <td class="tdc bl br bb">10,896</td> + </tr><tr> + <td class="tdc bl"> </td> + <td class="tdc">2,763,117 </td> + <td class="tdc bl">2,768,487 </td> + <td class="tdc bl bb">39,362</td> + <td class="tdc bl br bb">44,733</td> + </tr><tr class="bb"> + <td class="tdc bl" colspan="4">Deducting the Profit, £39,362, the Final Loss becomes</td> + <td class="tdc br">£5,371</td> + </tr> + </tbody> +</table> + +<p>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 (<a href="#Page_150">see page 150</a>) +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<i>s.</i> +6<i>d.</i> 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<i>s.</i> 10¾<i>d.</i> per million +coined; it would show that the average amount of loss reaches +3<i>s.</i> 9¾<i>d.</i> for each £100 coined, such sum being in fact +<span class="pagenum" id="Page_150">[Pg 150]</span> +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</p> + +<div class="blockquot"> +<p class="neg-indent"><b><span class="smcap">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.)</span></b></p> +</div> + +<table class="spb1 spa2"> + <thead><tr class="bt bb"> + <th class="tdc bl">Date.</th> + <th class="tdc bl" colspan="3"> Amounts Advanced <br>from the<br>Consolidated<br>Fund.</th> + <th class="tdc bl" colspan="3">Amounts Paid into<br>the Exchequer, in<br>Repayment of<br>Advances.</th> + <th class="tdc bl br">Remarks.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl br"> </td> + </tr><tr> + <td class="tdc bl">1837</td> + <td class="tdr_wsp bl">22,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdr_wsp"> </td> + <td class="tdc bl br" rowspan="32">As given<br>in detail<br>in<br>previous<br>Returns.</td> + </tr><tr> + <td class="tdc bl">1838</td> + <td class="tdr_wsp bl">196,029</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl">168,029</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp">4</td> + </tr><tr> + <td class="tdc bl">1839</td> + <td class="tdr_wsp bl">400,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">350,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1840</td> + <td class="tdr_wsp bl">170,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">175,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1841</td> + <td class="tdr_wsp bl">100,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">135,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1842</td> + <td class="tdr_wsp bl">180,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">162,120</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1843</td> + <td class="tdr_wsp bl">350,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">265,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1844</td> + <td class="tdr_wsp bl">550,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">501,389</td> + <td class="tdr_wsp">17</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1845</td> + <td class="tdr_wsp bl">850,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">678,772</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp">9</td> + </tr><tr> + <td class="tdc bl">1846</td> + <td class="tdr_wsp bl">300,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">429,937</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp">11</td> + </tr><tr> + <td class="tdc bl">1847</td> + <td class="tdr_wsp bl">100,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">217,033</td> + <td class="tdr_wsp">10</td> + <td class="tdr_wsp">2</td> + </tr><tr> + <td class="tdc bl">1848</td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdr_wsp"> </td> + <td class="tdr_wsp bl">18,534</td> + <td class="tdr_wsp">3</td> + <td class="tdr_wsp">1</td> + </tr><tr> + <td class="tdc bl">1849</td> + <td class="tdr_wsp bl">150,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">120,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1850</td> + <td class="tdr_wsp bl">150,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">120,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1851</td> + <td class="tdr_wsp bl">100,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">187,213</td> + <td class="tdr_wsp">1</td> + <td class="tdr_wsp">1</td> + </tr><tr> + <td class="tdc bl">1852</td> + <td class="tdr_wsp bl">391,970</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">191,970</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1853</td> + <td class="tdr_wsp bl">508,029</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl">550,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1854</td> + <td class="tdr_wsp bl">100,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">200,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1855</td> + <td class="tdr_wsp bl">250,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">300,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1856</td> + <td class="tdr_wsp bl">450,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">450,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1857</td> + <td class="tdr_wsp bl">420,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">350,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1858</td> + <td class="tdr_wsp bl">400,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">400,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1859</td> + <td class="tdr_wsp bl">550,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">650,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1860</td> + <td class="tdr_wsp bl">270,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">150,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1861</td> + <td class="tdr_wsp bl">400,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">550,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1862</td> + <td class="tdr_wsp bl">400,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">350,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1863</td> + <td class="tdr_wsp bl">250,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">250,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1864</td> + <td class="tdr_wsp bl">600,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl"></td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1865</td> + <td class="tdr_wsp bl">520,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">460,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1866</td> + <td class="tdr_wsp bl">410,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">510,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr> + <td class="tdc bl">1867</td> + <td class="tdr_wsp bl">300,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">250,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr class="bb"> + <td class="tdc bl">1868</td> + <td class="tdr_wsp bl">220,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">200,000</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + </tr><tr class="bb"> + <td class="tdc bl"> 32 Years </td> + <td class="tdr_wsp bl">10,058,029</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl"> 9,970,000 0 0</td> + <td class="tdr_wsp">0</td> + <td class="tdr_wsp">0</td> + <td class="tdl_wsp bl br"><i>Loss</i>,<br><b>£88,029 19s. 4d. 17/6</b> <br><i>on the</i> <b>£100</b></td> + </tr><tr> + <td class="tdr_wsp" colspan="8">C. W. FREMANTLE, <span class="smcap">Deputy Master of the Mint</span>.</td> + </tr><tr> + <td class="tdl_wsp" colspan="8"><span class="smcap">Royal Mint</span>, <i>18th February, 1870</i>.</td> + </tr> + </tbody> +</table> + +<p class="no-indent">profit, his total sum for all being 15<i>s.</i> +for each £100 coined. Is it probable that the contractor would tolerate +a charge of 3<i>s.</i> 9¾<i>d.</i> for loss alone out of a total of +15<i>s.</i> 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 +<span class="pagenum" id="Page_151">[Pg 151]</span> +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.</p> + +<p>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 (<a href="#Page_144">see pages 144-145</a>), 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<i>s.</i>, +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 <span class="allsmcap">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</span> +No. 157, 1869, quoted at <a href="#Page_149">page 149</a>.</p> + +<p>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<i>d.</i> and sells for +66<i>d.</i>, 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 (<a href="#Page_154">see page 154</a>) 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<i>s.</i> Now the amount bought was in real intrinsic value £312,252 +12<i>s.</i>, 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<i>d.</i> per ounce, which, expressed +in decimals, will be 61·375<i>d.</i>, and silver, by the Act of +Parliament, is so coined as that each ounce is converted into money of +a nominal value of 66<i>d.</i>, such extrinsic value being given to +silver because it is a token currency, and as such is a legal tender to +<span class="pagenum" id="Page_152">[Pg 152]</span> +the limited extent of £2. The difference, then, between 66<i>d.</i> +and 61·375<i>d.</i> 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<i>s.</i> at 7½ per cent., should yield +£23,418 18<i>s.</i> 10¾<i>d.</i>, yet not only was the profit lost, +but, in addition, there is a recorded—admitted—loss of £10,896 +12<i>s.</i>, which, added to the loss of profit, brings that total to +£34,315 10<i>s.</i> 10¾<i>d.</i>; 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<i>s.</i> 6<i>d.</i>, leaving thereby an +irretrievable loss of exactly £16,257 1<i>s.</i> 4¾<i>d.</i>, on that +year alone.</p> + +<p class="f120"><b><span class="smcap">No. 262.—Return to an Order of<br> +the Honourable the House of Commons,<br> dated 30th May, 1870.</span></b></p> + +<p class="center">(Mr. AYRTON, <a href="#Page_5">page 5</a>.)</p> + +<p class="center"><i>Worn Silver Coin Purchased for Re-coinage.</i></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"> Date </th> + <th class="tdc bl">Weight.</th> + <th class="tdc bl" colspan="3"> Nominal Value. </th> + <th class="tdc bl" colspan="3">Mint Value at<br> 5/6 per Ounce. </th> + <th class="tdc bl br" colspan="3">Loss by<br> Re-Coinage. </th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdc bl">1860</td> + <td class="tdr_wsp bl">357902·538</td> + <td class="tdr_wsp bl">113,000</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">98,423</td> <td class="tdr_wsp">3</td> <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl">14,576</td> <td class="tdr_wsp">16</td> <td class="tdr_wsp br">3</td> + </tr><tr> + <td class="tdc bl">1861</td> + <td class="tdr_wsp bl">308873·077</td> + <td class="tdr_wsp bl">97,600</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">84,940</td> <td class="tdr_wsp">1</td> <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl">12,659</td> <td class="tdr_wsp">18</td> <td class="tdr_wsp br">2</td> + </tr><tr> + <td class="tdc bl">1862</td> + <td class="tdr_wsp bl">425591·682</td> + <td class="tdr_wsp bl">135,000</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">117,037</td> <td class="tdr_wsp">14</td> <td class="tdr_wsp">3</td> + <td class="tdr_wsp bl">17,962</td> <td class="tdr_wsp">5</td> <td class="tdr_wsp br">9</td> + </tr><tr> + <td class="tdc bl">1863</td> + <td class="tdr_wsp bl">324674·838</td> + <td class="tdr_wsp bl">102,800</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">89,285</td> <td class="tdr_wsp">11</td> <td class="tdr_wsp">5</td> + <td class="tdr_wsp bl">13,514</td> <td class="tdr_wsp">8</td> <td class="tdr_wsp br">7</td> + </tr><tr> + <td class="tdc bl">1864</td> + <td class="tdr_wsp bl">388388·152</td> + <td class="tdr_wsp bl">123,500</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">106,806</td> <td class="tdr_wsp">14</td> <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl">16,693</td> <td class="tdr_wsp">5</td> <td class="tdr_wsp br">2</td> + </tr><tr> + <td class="tdc bl">1865</td> + <td class="tdr_wsp bl">292496·983</td> + <td class="tdr_wsp bl">93,000</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">80,436</td> <td class="tdr_wsp">13</td> <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl">12,563</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp br">8</td> + </tr><tr> + <td class="tdc bl">1866</td> + <td class="tdr_wsp bl">361280·187</td> + <td class="tdr_wsp bl">115,000</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">99,352</td> <td class="tdr_wsp">1</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">15,647</td> <td class="tdr_wsp">19</td> <td class="tdr_wsp br">0</td> + </tr><tr> + <td class="tdc bl">1867</td> + <td class="tdr_wsp bl">376142·927</td> + <td class="tdr_wsp bl">120,000</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">103,439</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">16,560</td> <td class="tdr_wsp">14</td> <td class="tdr_wsp br">0</td> + </tr><tr> + <td class="tdc bl">1868</td> + <td class="tdr_wsp bl">388878·297</td> + <td class="tdr_wsp bl">125,000</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">106,941</td> <td class="tdr_wsp">10</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl">18,058</td> <td class="tdr_wsp">9</td> <td class="tdr_wsp br">6</td> + </tr><tr class="bb"> + <td class="tdc bl">1869</td> + <td class="tdr_wsp bl">325976·928</td> + <td class="tdr_wsp bl">105,000</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">89,643</td> <td class="tdr_wsp">13</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">15,356</td> <td class="tdr_wsp">7</td> <td class="tdr_wsp br">0</td> + </tr><tr class="bb"> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl">3550205·609</td> + <td class="tdr_wsp bl">1,129,900</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">976,306</td> <td class="tdr_wsp">9</td> <td class="tdr_wsp">11</td> + <td class="tdr_wsp bl">153,593</td> <td class="tdr_wsp">10</td> <td class="tdr_wsp br">1</td> + </tr> + </tbody> +</table> + +<p class="blockquot"><i>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:—</i></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"> 1860 </th> + <th class="tdc bl"> 1861 </th> + <th class="tdc bl"> 1862 </th> + <th class="tdc bl"> 1863 </th> + <th class="tdc bl"> 1864 </th> + <th class="tdc bl"> 1865 </th> + <th class="tdc bl"> 1866 </th> + <th class="tdc bl"> 1867 </th> + <th class="tdc bl"> 1868 </th> + <th class="tdc bl br"> 1869 </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"><i>d.</i></td> + <td class="tdc bl"><i>d.</i></td> + <td class="tdc bl"><i>d.</i></td> + <td class="tdc bl"><i>d.</i></td> + <td class="tdc bl"><i>d.</i></td> + <td class="tdc bl"><i>d.</i></td> + <td class="tdc bl"><i>d.</i></td> + <td class="tdc bl"><i>d.</i></td> + <td class="tdc bl"><i>d.</i></td> + <td class="tdc bl br"><i>d.</i></td> + </tr><tr class="bb"> + <td class="tdc bl">61¾</td> + <td class="tdc bl">61½</td> + <td class="tdc bl">61½</td> + <td class="tdc bl">61½</td> + <td class="tdc bl">61¼</td> + <td class="tdc bl">61</td> + <td class="tdc bl">61⅞</td> + <td class="tdc bl">60¾</td> + <td class="tdc bl">60⅞</td> + <td class="tdc bl br">60⁶/₁₆</td> + </tr> + </tbody> +</table> + +<p class="blockquot"><i>The amount of Seigniorage paid into the +Exchequer in the years 1860 to 1869, has been,—</i></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="3">1860</th> + <th class="tdc bl" colspan="3">1861</th> + <th class="tdc bl" colspan="3">1862</th> + <th class="tdc bl" colspan="3">1863</th> + <th class="tdc bl br" colspan="3">1864</th> + </tr></thead> + <tbody><tr> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr class="bb"> + <td class="tdr_wsp bl">27,134</td> <td class="tdr_wsp">1</td> <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">4,961</td> <td class="tdr_wsp">7</td> <td class="tdr_wsp">5</td> + <td class="tdr_wsp bl">11,227</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">2</td> + <td class="tdr_wsp bl">211</td> <td class="tdr_wsp">13</td> <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl">6,160</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp br">8</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="3">1865</th> + <th class="tdc bl" colspan="3">1866</th> + <th class="tdc bl" colspan="3">1867</th> + <th class="tdc bl" colspan="3">1868</th> + <th class="tdc bl" colspan="3">1869</th> + <th class="tdc bl br" colspan="3">Total<br>1860-69</th> + </tr></thead> + <tbody><tr> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr class="bb"> + <td class="tdr_wsp bl">57,645</td> <td class="tdr_wsp">17</td> <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl">28,630</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">5</td> + <td class="tdr_wsp bl">4,331</td> <td class="tdr_wsp">10</td> <td class="tdr_wsp">7</td> + <td class="tdr_wsp bl">18,622</td> <td class="tdr_wsp">7</td> <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl">12,345</td> <td class="tdr_wsp">4</td> <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl">171,269</td> <td class="tdr_wsp">16</td> <td class="tdr_wsp br">2</td> + </tr><tr> + <td class="tdr_wsp" colspan="18">C. W. FREMANTLE, <span class="smcap">Deputy Master of the Mint</span>.</td> + </tr><tr> + <td class="tdl_wsp" colspan="18"><span class="smcap">Royal Mint</span>, <i>31st. May, 1870.</i></td> + </tr> + </tbody> +</table> + +<p>Would Lord Lansdowne like to live on a <i>profit</i> 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 +<span class="pagenum" id="Page_153">[Pg 153]</span> +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.</p> + +<p>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.</p> + +<p>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 <i>a continuation</i>, 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, <span class="allsmcap">BOTH RELATING TO THE SAME ACCOUNT</span>, +and both supposed to be accurate (<a href="#Page_154">see page 154</a>).</p> + +<p>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 <i>his</i> returns were correct, Mr. Fremantle’s +must be <i>incorrect</i>, or, “adjusted,” as Mr. Roberts would style +it. If reference be made to the table on <a href="#Page_154">page 154</a>, +it will be seen that by the return No. 157, Mr. Graham showed +a loss to the extent of £5,373 4<i>s.</i> 6<i>d.</i> 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 <a href="#Page_150">page 150</a>. +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 <i>loss</i> into an absolute +<span class="allsmcap">GAIN</span> of so large an amount as £1,011,668 +2<i>s.</i> 0<i>d.</i>, and <i>that without any word of explanation</i>. +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. +<span class="pagenum" id="Page_154">[Pg 154]</span></p> + +<div class="blockquot"> +<p class="neg-indent"><b><span class="smcap">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</span>.</b></p> +</div> + +<p class="center"> (<span class="smcap">Mr. AYRTON</span>, <a href="#Page_3">page 3</a>)</p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"></th> + <th class="tdc bl" colspan="3">Total Value of<br>Silver Coined.</th> + <th class="tdc bl" colspan="3">Real Cost or<br>Value of Metal.</th> + <th class="tdc bl" colspan="3">Profit on<br>Coinage.</th> + <th class="tdc bl br" colspan="3">Loss on<br>Coinage.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> Date </td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdc bl">1860</td> + <td class="tdr_wsp bl">218,403</td> <td class="tdr_wsp">7</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">222,981</td> <td class="tdr_wsp">1</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp"> </td> + <td class="tdr_wsp bl">4,577</td> <td class="tdr_wsp">14</td> <td class="tdr_wsp br">6</td> + </tr><tr> + <td class="tdc bl">1861</td> + <td class="tdr_wsp bl">209,484</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">215,029</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp"> </td> + <td class="tdr_wsp bl">5,545</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp br">10</td> + </tr><tr> + <td class="tdc bl">1862</td> + <td class="tdr_wsp bl">148,518</td> <td class="tdr_wsp">11</td> <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl">159,948</td> <td class="tdr_wsp">2</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp"> </td> + <td class="tdr_wsp bl">11,429</td> <td class="tdr_wsp">10</td> <td class="tdr_wsp br">8</td> + </tr><tr> + <td class="tdc bl">1863</td> + <td class="tdr_wsp bl">161,172</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">171,855</td> <td class="tdr_wsp">15</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp"> </td> + <td class="tdr_wsp bl">10,683</td> <td class="tdr_wsp">15</td> <td class="tdr_wsp br">0</td> + </tr><tr> + <td class="tdc bl">1864</td> + <td class="tdr_wsp bl">535,194</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">521,003</td> <td class="tdr_wsp">5</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">14,190</td> <td class="tdr_wsp">15</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdc bl">1865</td> + <td class="tdr_wsp bl">501,732</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">483,861</td> <td class="tdr_wsp">13</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl">17,870</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdc bl">1866</td> + <td class="tdr_wsp bl">493,416</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">486,113</td> <td class="tdr_wsp">15</td> <td class="tdr_wsp">2</td> + <td class="tdr_wsp bl">7,302</td> <td class="tdr_wsp">4</td> <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp br"> </td> + </tr><tr> + <td class="tdc bl">1867</td> + <td class="tdr_wsp bl">193,842</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">195,445</td> <td class="tdr_wsp">17</td> <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp"> </td> + <td class="tdr_wsp bl">1,603</td> <td class="tdr_wsp">17</td> <td class="tdr_wsp br">10</td> + </tr><tr class="bb"> + <td class="tdc bl">1868</td> + <td class="tdr_wsp bl">301,356</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">312,252</td> <td class="tdr_wsp">12</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl"> </td> <td class="tdr_wsp"> </td> <td class="tdr_wsp"> </td> + <td class="tdr_wsp bl">10,896</td> <td class="tdr_wsp">12</td> <td class="tdr_wsp br">0</td> + </tr><tr class="bb"> + <td class="tdc bl"> </td> + <td class="tdr_wsp">2,763,117</td> <td class="tdr_wsp">18</td> <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl"> 2,768,491</td> <td class="tdr_wsp">3</td> <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl"> 39,363</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl"> 44,736</td> <td class="tdr_wsp">4</td> <td class="tdr_wsp br">6</td> + </tr><tr class="bb"> + <td class="tdr_ws1 bl" colspan="10">Deduct Profit, when there remains Absolute Loss</td> + <td class="tdr_wsp bl">5,373</td> <td class="tdr_wsp">4</td> <td class="tdr_wsp br">6</td> + </tr><tr> + <td class="tdr_wsp" colspan="13">THO. GRAHAM, <span class="smcap">Master of the Mint</span>.</td> + </tr><tr> + <td class="tdl_ws1" colspan="13"><span class="smcap">Royal Mint</span>, <i>19th April, 1869</i>.</td> + </tr> + </tbody> +</table> + +<div class="blockquot spa2"> +<p class="neg-indent"><b><span class="smcap">No. 262.—Return to +an Order, &c., dated 30th May, 1870</span>, &c., +<span class="smcap">in Continuation of Paper No. 157, of Session +1868-9.</span></b></p> +</div> + +<p class="center"> (Mr. STANSFELD, <a href="#Page_3">page 3</a>.)</p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"> </th> + <th class="tdc bl" colspan="3">Total Value of<br>Silver Coined.</th> + <th class="tdc bl" colspan="3">Total Amount<br> Paid for<br>Silver Bullion</th> + <th class="tdc bl" colspan="3">Profit on<br>Coinage.</th> + <th class="tdc bl br" colspan="3">Loss on<br>Coinage.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> Date </td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdc bl">1860</td> + <td class="tdr_wsp bl">218,403</td> <td class="tdr_wsp">7</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">141,112</td> <td class="tdr_wsp">7</td> <td class="tdr_wsp">11</td> + <td class="tdr_wsp bl">77,290</td> <td class="tdr_wsp">19</td> <td class="tdr_ws1">1</td> + <td class="tdc bl br" colspan="3" rowspan="9"> </td> + </tr><tr> + <td class="tdc bl">1861</td> + <td class="tdr_wsp bl">209,484</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">100,327</td> <td class="tdr_wsp">11</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">109,156</td> <td class="tdr_wsp">9</td> <td class="tdr_ws1">0</td> + </tr><tr> + <td class="tdc bl">1862</td> + <td class="tdr_wsp bl">148,518</td> <td class="tdr_wsp">11</td> <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl">51,165</td> <td class="tdr_wsp">19</td> <td class="tdr_wsp">11</td> + <td class="tdr_wsp bl">97,352</td> <td class="tdr_wsp">11</td> <td class="tdr_ws1">11</td> + </tr><tr> + <td class="tdc bl">1863</td> + <td class="tdr_wsp bl">161,172</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">53,134</td> <td class="tdr_wsp">12</td> <td class="tdr_wsp">7</td> + <td class="tdr_wsp bl">108,037</td> <td class="tdr_wsp">7</td> <td class="tdr_ws1">5</td> + </tr><tr> + <td class="tdc bl">1864</td> + <td class="tdr_wsp bl">535,194</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">445,191</td> <td class="tdr_wsp">11</td> <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl">90,002</td> <td class="tdr_wsp">8</td> <td class="tdr_ws1">3</td> + </tr><tr> + <td class="tdc bl">1865</td> + <td class="tdr_wsp bl">501,732</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">416,524</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl">85,207</td> <td class="tdr_wsp">13</td> <td class="tdr_ws1">3</td> + </tr><tr> + <td class="tdc bl">1866</td> + <td class="tdr_wsp bl">493,416</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">282,247</td> <td class="tdr_wsp">12</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl">211,168</td> <td class="tdr_wsp">7</td> <td class="tdr_ws1">6</td> + </tr><tr> + <td class="tdc bl">1867</td> + <td class="tdr_wsp bl">193,842</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">181,000</td> <td class="tdr_wsp">17</td> <td class="tdr_wsp">11</td> + <td class="tdr_wsp bl">12,841</td> <td class="tdr_wsp">2</td> <td class="tdr_ws1">1</td> + </tr><tr> + <td class="tdc bl">1868</td> + <td class="tdr_wsp bl">301,356</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">80,744</td> <td class="tdr_wsp">16</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl">220,611</td> <td class="tdr_wsp">3</td> <td class="tdr_ws1">6</td> + </tr><tr class="bb"> + <td class="tdc bl"> 1869 </td> + <td class="tdr_wsp bl">76,428</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">135,083</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">11</td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdr_wsp bl">58,655</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp br">11</td> + </tr><tr class="bb"> + <td class="tdc bl"> </td> + <td class="tdr_wsp">2,839,545</td> <td class="tdr_wsp">18</td> <td class="tdr_wsp">10</td> + <td class="tdr_wsp bl"> 1,886,532</td> <td class="tdr_wsp">17</td> <td class="tdr_wsp">9</td> + <td class="tdr_wsp bl"> 1,011,668</td> <td class="tdr_wsp">2</td> <td class="tdr">0 <b>(‡‡)</b></td> + <td class="tdr_wsp bl"> 58,655</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp br">11</td> + </tr><tr> + <td class="tdr_wsp" colspan="13">C. W. FREMANTLE, <span class="smcap">Deputy Master of the Mint</span>.</td> + </tr><tr> + <td class="tdl_wsp" colspan="13"><span class="smcap">Royal Mint</span>, <i>31st May, 1870</i>.</td> + </tr> + </tbody> +</table> + +<p>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<i>s.</i> 0<i>d.</i> in +place of Mr. Graham’s loss of £5,373 4<i>s.</i> 6<i>d.</i>—but there +being a loss of £58,655 0<i>s.</i> 11<i>d.</i> on his own year’s +coinage, the substituted profit<b>(‡‡)</b> must be reduced by that amount, +when it will be £953,013 1<i>s.</i> 1<i>d.</i> Again, page 5, he gives +a tabular statement (<a href="#Page_152">see page 152</a>), by which +he shows that £171,269 16<i>s.</i> 2<i>d.</i> went to the Exchequer +as seigniorage, while the loss by recoinage amounted to £153,593 +10<i>s.</i> 1<i>d.</i>, leaving a total profit of £17,676 6<i>s.</i> +1<i>d.</i> 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<i>s.</i> 11<i>d.</i> in ten years. If it were +<span class="pagenum" id="Page_155">[Pg 155]</span> +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.</p> + +<p>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 (<a href="#Page_156">see p. 156</a>): +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 “<i>the Government owes the silver coinage a million and a +half, and not as an account</i>.” 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 <i>has never been realised</i>, 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 <b>£3,880,000</b> 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 <a href="#Page_65">page 65</a>, 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 <a href="#Page_65">page 65</a> 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.—<i>the most worn</i>—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 (<a href="#Page_152">see return, p. 152</a>). +<span class="pagenum" id="Page_156">[Pg 156]</span></p> + +<p class="f110"><b>THE GOVERNMENT IN ACCOUNT WITH<br> THE SILVER COINAGE.</b></p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl"><span class="smcap">Coined in the Reign of George III.</span>:—</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Crowns</td> + <td class="tdr">£322,000</td> + </tr><tr> + <td class="tdl_ws1">Half-Crowns</td> + <td class="tdr">2,387,000</td> + </tr><tr> + <td class="tdl_ws1">Shillings</td> + <td class="tdr">3,304,000</td> + </tr><tr> + <td class="tdl_ws1">Sixpences</td> + <td class="tdr bb">919,000</td> + </tr><tr> + <td class="tdl_ws1"> </td> + <td class="tdr bb2">£6,932,000</td> + </tr> + </tbody> +</table> + +<p>Supposing the cost of the Silver to have been 5<i>s.</i> 1<i>d.</i> an +ounce in the new money, there would remain 5d. per ounce as profit to +the Government. That 5<i>d.</i> would be about 7·57 per Cent. on the +amount coined.</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">7·57 per Cent. on £6,932,000</td> + <td class="tdr">=  £525,000</td> + <td class="tdl_wsp" rowspan="5"> </td> + </tr><tr> + <td class="tdl">Compound Interest thereon at</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl_ws1">3½ per Cent. for 43 Years, the</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl_ws1">true Average Number of Years</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl_ws1">as nearly as can be made out</td> + <td class="tdr bb">1,779,000</td> + </tr><tr> + <td class="tdl_ws1"> </td> + <td class="tdr"> </td> + <td class="tdl_wsp"><span class="ws6">2,304,000</span></td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <tbody><tr> + <td class="tdl"><span class="smcap">Coined in the Reign of George IV.</span>:—</td> + <td class="tdc"> </td> + <td class="tdc"> </td> + <td class="tdc" rowspan="7"> </td> + </tr><tr> + <td class="tdl_ws1">Crowns</td> + <td class="tdr">141,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Half-Crowns</td> + <td class="tdr">1,114,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Shillings</td> + <td class="tdr">879,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Sixpences</td> + <td class="tdr bb">81,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">7·57 per Cent. on</td> + <td class="tdr bb2">£2,215,000</td> + <td class="tdl_wsp">= £168,000</td> + </tr><tr> + <td class="tdr_wsp" colspan="2">Compound Interest at 3½ for 35 Years</td> + <td class="tdr bb">392,000</td> + </tr><tr> + <td class="tdr_wsp" colspan="3"> </td> + <td class="tdl_wsp">560,000</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <tbody><tr> + <td class="tdl"><span class="smcap">Coined in the Reign of William IV.</span>:—</td> + <td class="tdc"> </td> + <td class="tdc"> </td> + <td class="tdc" rowspan="7"> </td> + </tr><tr> + <td class="tdl_ws1">Half-Crowns</td> + <td class="tdr">381,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Shillings</td> + <td class="tdr">412,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Sixpences</td> + <td class="tdr bb">282,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">7·57 per Cent. on</td> + <td class="tdr bb2">£1,075,000</td> + <td class="tdl_wsp">= £81,000</td> + </tr><tr> + <td class="tdr_wsp" colspan="2">Compound Interest at 3½ for 15 Years</td> + <td class="tdr bb">111,000</td> + </tr><tr> + <td class="tdr_wsp" colspan="2"> </td> + <td class="tdl_wsp">192,000</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <tbody><tr> + <td class="tdl"><span class="smcap">Coined in the Reign of Victoria</span>:—</td> + <td class="tdc"> </td> + <td class="tdc"> </td> + <td class="tdc" rowspan="7"> </td> + </tr><tr> + <td class="tdl_ws1">Crowns</td> + <td class="tdr">117,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Half-Crowns</td> + <td class="tdr">1,043,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Florins</td> + <td class="tdr">1,541,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Shillings</td> + <td class="tdr">2,610,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Sixpences</td> + <td class="tdr bb">1,182,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">7·57 per Cent. on</td> + <td class="tdr bb2">£6,493,000</td> + <td class="tdl_wsp">= £492,000</td> + </tr><tr> + <td class="tdr_wsp" colspan="3">Compound Interest at 3½ for 15 Years</td> + <td class="tdr bb">332,000</td> + </tr><tr> + <td class="tdr_wsp" colspan="3"> </td> + <td class="tdl_wsp bb">824,000</td> + </tr><tr> + <td class="tdr_wsp" colspan="3"> </td> + <td class="tdl_wsp bb2">£3,880,000</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <tbody><tr> + <td class="tdl" colspan="4"><span class="smcap">Loss by Wear</span>:—</td> + </tr><tr> + <td class="tdl_ws1" colspan="2">On amount remaining in Circulation</td> + <td class="tdr">£910,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws2" colspan="2">Ditto withdrawn from Circulation</td> + <td class="tdr bb">255,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1"> </td> + <td class="tdr"> </td> + <td class="tdc"> </td> + <td class="tdr">£1,165,000</td> + </tr><tr> + <td class="tdl" colspan="4"><span class="smcap">Expenses of Coinage</span>:—</td> + </tr><tr> + <td class="tdl_ws1">Crowns and Half-Crowns at 2¼ per Cent.</td> + <td class="tdr">124,000</td> + <td class="tdc"> </td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl_ws1">Shillings at 2·85 per Cent.</td> + <td class="tdr bb">205,000</td> + <td class="tdc"> 329,000</td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl" colspan="2">Compound Interest thereon, 30 Years at 3½ per Cent</td> + <td class="tdr bb">594,000</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl_ws1"> </td> + <td class="tdr"> </td> + <td class="tdc"> </td> + <td class="tdr">923,000</td> + </tr><tr> + <td class="tdl_ws1" colspan="2">Sixpences at 3¼ per Cent.</td> + <td class="tdr">80,000</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl" colspan="2">Compound Interest thereon, 26 Years at 3¼ per Cent.</td> + <td class="tdr bb">116,000</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl_ws1" colspan="2"> </td> + <td class="tdr"> </td> + <td class="tdr">196,000</td> + </tr><tr> + <td class="tdl_ws1" colspan="2">Florins at 2½ per Cent</td> + <td class="tdr">39,000</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl" colspan="2">Compound Interest thereon, 5 Years at 3¼ per Cent.</td> + <td class="tdr bb">5,000</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl_ws1" colspan="2"> </td> + <td class="tdr"> </td> + <td class="tdr">44,000</td> + </tr><tr> + <td class="tdl" colspan="4">7·57]per Cent. on the amount of Silver recoined</td> + </tr><tr> + <td class="tdl_ws1" colspan="2">at the Government’s expense (£1,316,500)</td> + <td class="tdr">100,000</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl" colspan="2">Compound Interest, at 3½ per Cent. for Average of 10 Years</td> + <td class="tdr bb">41,000</td> + <td class="tdr"> </td> + </tr><tr> + <td class="tdl_ws1" colspan="2"> </td> + <td class="tdr"> </td> + <td class="tdr">141,000</td> + </tr><tr> + <td class="tdr_ws1" colspan="2">Balance</td> + <td class="tdr"> </td> + <td class="tdr bb">1,411,000</td> + </tr><tr> + <td class="tdl_ws1" colspan="2"> </td> + <td class="tdr"> </td> + <td class="tdr bb2">£3,880,000</td> + </tr><tr> + <td class="tdl_ws1" colspan="4">I communicate this Statement as my grounds for the Estimate that</td> + </tr><tr> + <td class="tdl_ws1" colspan="4">the Government owes the Silver Coinage a million and a half, and</td> + </tr><tr> + <td class="tdl_ws1" colspan="4">not as an Account.</td> + </tr><tr> + <td class="tdl_ws1" colspan="2"><i>December, 1860.</i></td> + <td class="tdr_ws1" colspan="2">W. MILLER.</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_157">[Pg 157]</span> +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 <i>copper</i> pennies, when alloyed +with tin and zinc, made <span class="allsmcap">TWO BRONZE</span> 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 <i>wear</i> +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 <i>Old Standard</i>, 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 +<span class="pagenum" id="Page_158">[Pg 158]</span> +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 +<span class="pagenum" id="Page_159">[Pg 159]</span> +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 <i>hammered</i> +money, and felt the thickness of the <i>milled</i>; 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.</p> + +<p>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:—</p> + +<p>“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.”</p> + +<p>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. +<span class="pagenum" id="Page_160">[Pg 160]</span></p> + +<p class="f110"><b><span class="smcap">Statement of Work Performed in the<br> Coining Department<br> +between October 1st, 1857, and<br> March 31st, 1858, inclusive.</span></b></p> + +<p class="center">The Coinage was completed in 63 Days.<br> The Value of the coined Silver +was £234177·96875.</p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="5">IN ROLLING ROOM.</th> + </tr><tr class="smcap bb"> + <th class="tdc bl" colspan="2">Received.</th> + <th class="tdc bl br" colspan="3">Returned.</th> + </tr><tr class="bb"> + <th class="tdc bl" colspan="2"> </th> + <th class="tdc bl"> </th> + <th class="tdc bl">As by<br> Rolling Room <br> Beam.</th> + <th class="tdc bl br">As by<br> Mint Office <br> Beam.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="2"><b>Bars for Florins.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl">Ounces.</td> + <td class="tdr_wsp bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">As by Mint Office Beam.</td> + <td class="tdr_wsp">761202·00</td> + <td class="tdl_wsp bl">Florin Fillets</td> + <td class="tdr_wsp bl">728342·56</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Rolling Room Beam.</td> + <td class="tdr_wsp bb">761212·67</td> + <td class="tdl_wsp bl">  ” Ends</td> + <td class="tdr_wsp bl bb">32956·95</td> + <td class="tdr_wsp bl br">32956·90</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a plus difference.</td> + <td class="tdr_wsp">10·67</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">761299·51</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">86·84</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Bars for Shillings</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Mint Office Beam.</td> + <td class="tdr_wsp">528613·00</td> + <td class="tdl_wsp bl">Shilling Fillets</td> + <td class="tdr_wsp bl">504599·40</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Rolling Room Beam.</td> + <td class="tdr_wsp bb">528617·25</td> + <td class="tdl_wsp bl">  ”   Ends</td> + <td class="tdr_wsp bl bb">24081·80</td> + <td class="tdr_wsp bl br">24081·91</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a plus difference.</td> + <td class="tdr_wsp">4·25</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">528681·20</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">63·95</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Bars for Sixpences.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Mint Office Beam.</td> + <td class="tdr_wsp">175644·00</td> + <td class="tdl_wsp bl">Sixpenny Fillets</td> + <td class="tdr_wsp bl">168666·70</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Rolling Room Beam.</td> + <td class="tdr_wsp bb">175644·54</td> + <td class="tdl_wsp bl"><span class="ws2">”</span>   Ends</td> + <td class="tdr_wsp bl bb">7003·10</td> + <td class="tdr_wsp bl br">7003·07</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a plus difference.</td> + <td class="tdr_wsp">0·54</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">175669·80</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">24·26</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Bars for Threepences.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Mint Office Beam.</td> + <td class="tdr_wsp">33643·00</td> + <td class="tdl_wsp bl">Threepenny Fillets.</td> + <td class="tdr_wsp bl">32661·25</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Rolling Room Beam</td> + <td class="tdr_wsp bb">33642·20</td> + <td class="tdl_wsp bl">Threepenny Ends.</td> + <td class="tdr_wsp bl bb">987·55</td> + <td class="tdr_wsp bl br bb">987·55</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">0·80</td> + <td class="tdl_wsp bl">Deduct “Received.”</td> + <td class="tdr_wsp bl bb">33648·80</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">6·60</td> + <td class="tdr_wsp bl br">65029·43</td> + </tr> + </tbody> +</table> + +<table class="spb1 spa2"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="5">IN CUTTING ROOM.</th> + </tr><tr class="smcap bb"> + <th class="tdc bl" colspan="2">Received.</th> + <th class="tdc bl br" colspan="3">Returned.</th> + </tr><tr class="bb"> + <th class="tdc bl" colspan="2"> </th> + <th class="tdc bl"> </th> + <th class="tdc bl">As by<br> Cutting Room <br> Beam.</th> + <th class="tdc bl br">As by<br> Mint Office <br> Beam.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="2"><b>Fillets for Florins.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl">Ounces.</td> + <td class="tdr_wsp bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">As by Rolling Room Beam.</td> + <td class="tdr_wsp">728342·56</td> + <td class="tdl_wsp bl">Florin Blanks</td> + <td class="tdr_wsp bl">433013·65</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Cutting Room Beam.</td> + <td class="tdr_wsp bb">728339·29</td> + <td class="tdl_wsp bl">  ” Scissel</td> + <td class="tdr_wsp bl bb">295327·34</td> + <td class="tdr_wsp bl br">295327·98</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">3·27</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">728340·99</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">86·84</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Fillets for Shillings</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Rolling Room Beam.</td> + <td class="tdr_wsp">504599·40</td> + <td class="tdl_wsp bl">Shilling Blanks</td> + <td class="tdr_wsp bl">320518·84</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Cutting Room Beam.</td> + <td class="tdr_wsp bb">504598·71</td> + <td class="tdl_wsp bl">  ”  Scissel</td> + <td class="tdr_wsp bl bb">184117·20</td> + <td class="tdr_wsp bl br">184117·20</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">0·69</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">504636·04</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">37·33</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Fillets for Sixpences.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Rolling Room Beam.</td> + <td class="tdr_wsp">168666·70</td> + <td class="tdl_wsp bl">Sixpenny Blanks.</td> + <td class="tdr_wsp bl">101407·09</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Cutting Room Beam</td> + <td class="tdr_wsp bb">168666·25</td> + <td class="tdl_wsp bl">Sixpenny Scissel.</td> + <td class="tdr_wsp bl bb">67271·99</td> + <td class="tdr_wsp bl br bb">67271·99</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">0·45</td> + <td class="tdl_wsp bl">Deduct “Received.”</td> + <td class="tdr_wsp bl bb">168679·08</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">12·83</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Fillets for Threepences.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Rolling Room Beam.</td> + <td class="tdr_wsp">32661·25</td> + <td class="tdl_wsp bl">Threepenny Blanks.</td> + <td class="tdr_wsp bl">19373·13</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Cutting Room Beam</td> + <td class="tdr_wsp bb">32661·25</td> + <td class="tdl_wsp bl">Threepenny Scissel.</td> + <td class="tdr_wsp bl bb">13293·73</td> + <td class="tdr_wsp bl br bb">13293·73</td> + </tr><tr> + <td class="tdl_wsp bl">Showing no difference.</td> + <td class="tdr_wsp">0·00</td> + <td class="tdl_wsp bl">Deduct “Received.”</td> + <td class="tdr_wsp bl bb">32666·86</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">5·61</td> + <td class="tdr_wsp bl br">560010·90</td> + </tr> + </tbody> +</table> + +<table class="spb1 spa2"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="5">IN WEIGHING ROOM.</th> + </tr><tr class="smcap bb"> + <th class="tdc bl" colspan="2">Received.</th> + <th class="tdc bl br" colspan="3">Returned.</th> + </tr><tr class="bb"> + <th class="tdc bl" colspan="2"> </th> + <th class="tdc bl"> </th> + <th class="tdc bl">As by<br> Weighing Room <br> Beam.</th> + <th class="tdc bl br">As by<br> Mint Office <br> Beam.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Florins.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl">Ounces.</td> + <td class="tdr_wsp bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">As by Cutting Room Beam.</td> + <td class="tdr_wsp">433013·65</td> + <td class="tdl_wsp bl">Florin Blanks.</td> + <td class="tdr_wsp bl">423988·43</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Weighing Room Beam.</td> + <td class="tdr_wsp bb">433010·55</td> + <td class="tdl_wsp bl">  ” Rejected.</td> + <td class="tdr_wsp bl bb">9020·63</td> + <td class="tdr_wsp bl br">9020·63</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">3·10</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">433009·06</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss during work.</td> + <td class="tdr_wsp bl">1·49</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Shillings</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Cutting Room Beam.</td> + <td class="tdr_wsp">320518·84</td> + <td class="tdl_wsp bl">Shilling Blanks.s</td> + <td class="tdr_wsp bl">315492·95</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Weighing Room Beam.</td> + <td class="tdr_wsp bb">20516·07</td> + <td class="tdl_wsp bl">Shilling Rejected</td> + <td class="tdr_wsp bl bb">5021·79</td> + <td class="tdr_wsp bl br">5021·79</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">2·77</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">320514·74</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss during work.</td> + <td class="tdr_wsp bl">1·33</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Sixpences.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Cutting Room Beam.</td> + <td class="tdr_wsp">101407·09</td> + <td class="tdl_wsp bl">Sixpenny Blanks.</td> + <td class="tdr_wsp bl">99083·98</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Weighing Room Beam.</td> + <td class="tdr_wsp bb">101406·65</td> + <td class="tdl_wsp bl">Sixpenny Rejected.</td> + <td class="tdr_wsp bl bb">2223·63</td> + <td class="tdr_wsp bl br">2223·63</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">0·44</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">101407·61</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Increase during work.</td> + <td class="tdr_wsp bl">0·96</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Threepences.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Cutting Room Beam.</td> + <td class="tdr_wsp">19373·13</td> + <td class="tdl_wsp bl">Threepenny Blanks.</td> + <td class="tdr_wsp bl">19326·87</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Weighing Room Beam</td> + <td class="tdr_wsp bb">19372·96</td> + <td class="tdl_wsp bl">Threepenny Rejected.</td> + <td class="tdr_wsp bl bb">46·03</td> + <td class="tdr_wsp bl br bb">46·03</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">0·17</td> + <td class="tdl_wsp bl">Deduct “Received.”</td> + <td class="tdr_wsp bl bb">319372·90</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss during work.</td> + <td class="tdr_wsp bl">0·06</td> + <td class="tdr_wsp bl br">16312·08</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_161">[Pg 161]</span></p> + +<table class="spb1 spa2"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="5">IN ANNEALING ROOM.</th> + </tr><tr class="smcap bb"> + <th class="tdc bl" colspan="2">Received.</th> + <th class="tdc bl br" colspan="3">Returned.</th> + </tr><tr class="bb"> + <th class="tdc bl" colspan="2"> </th> + <th class="tdc bl"> </th> + <th class="tdc bl">As by<br> Annealing Room <br> Beam.</th> + <th class="tdc bl br">As by<br> Mint Office <br> Beam.</th> + </tr></thead> +<tbody><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Florins.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl">Ounces.</td> + <td class="tdr_wsp bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">As by Weighing Room Beam.</td> + <td class="tdr_wsp">423988·43</td> + <td class="tdl_wsp bl">Florin Blanks</td> + <td class="tdr_wsp bl">423606·37</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Annealing Room Beam.</td> + <td class="tdr_wsp bb">423984·25</td> + <td class="tdl_wsp bt bb bl">Loss of Weight<br>by Annealing<br>and Blanching.</td> + <td class="tdr_wsp bl bt bb">367·84</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">4·18</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">423974·21</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss</td> + <td class="tdr_wsp bl">10·04</td> + <td class="tdr_wsp bl br"> </td> +</tr><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Shillings</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Weighing Room Beam.</td> + <td class="tdr_wsp">315492·95</td> + <td class="tdl_wsp bl">Shilling Blanks</td> + <td class="tdr_wsp bl">315190·47</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Annealing Room Beam.</td> + <td class="tdr_wsp bb">315490·42</td> + <td class="tdl_wsp bl bt bb">Loss of Weight<br>by Annealing<br>and Blanching.</td> + <td class="tdr_wsp bl bb bt">283·86</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">2·53</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">315474·33</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss</td> + <td class="tdr_wsp bl">16·09</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Sixpences.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Weighing Room Beam.</td> + <td class="tdr_wsp">99083·98</td> + <td class="tdl_wsp bl">Sixpenny Blanks</td> + <td class="tdr_wsp bl">98980·28</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Annealing Room Beam.</td> + <td class="tdr_wsp bb">99083·67</td> + <td class="tdl_wsp bl bb bt">Loss of Weight<br>by Annealing<br>and Blanching.</td> + <td class="tdr_wsp bl bb bt">103·39</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">0·31</td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">99083·67</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss</td> + <td class="tdr_wsp bl">0·00</td> + <td class="tdr_wsp bl br"> </td> +</tr><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Threepences.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Weighing Room Beam.</td> + <td class="tdr_wsp">19326·87</td> + <td class="tdl_wsp bl">Threepenny Blanks</td> + <td class="tdr_wsp bl">19304·08</td> + <td class="tdr_wsp bl br">Supply.⁠<a id="FNanchor_123_123" href="#Footnote_123_123" class="fnanchor">[123]</a></td> + </tr><tr> + <td class="tdl_wsp bl">As by Annealing Room Beam</td> + <td class="tdr_wsp bb">19326·72</td> + <td class="tdl_wsp bl bb bt">Loss of Weight<br>by Annealing<br>and Blanching.</td> + <td class="tdr_wsp bl bb bt"> 22·64</td> + <td class="tdr_wsp bl br bb">47·67</td> + </tr><tr> + <td class="tdl_wsp bl">Showing a minus difference.</td> + <td class="tdr_wsp">0·15</td> + <td class="tdl_wsp bl">Deduct “Received.”</td> + <td class="tdr_wsp bl bb">19326·72</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss</td> + <td class="tdr_wsp bl">0·00</td> + <td class="tdr_wsp bl br">47·67</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl br fs_120" colspan="5">IN PRESS ROOM.</th> + </tr><tr class="smcap bb"> + <th class="tdc bl" colspan="2">Received.</th> + <th class="tdc bl br" colspan="3">Returned.</th> + </tr><tr class="bb"> + <th class="tdc bl" colspan="2"> </th> + <th class="tdc bl"> </th> + <th class="tdc bl">As by<br> Press Room <br> Beam.</th> + <th class="tdc bl br">As by<br> Mint Office <br> Beam.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Florins.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl">Ounces.</td> + <td class="tdr_wsp bl br">Ounces.</td> + </tr><tr> + <td class="tdl_wsp bl">As by Annealing Room Beam.</td> + <td class="tdr_wsp">423606·37</td> + <td class="tdl_wsp bl">Florin Coin</td> + <td class="tdr_wsp bl">420367·28</td> + <td class="tdr_wsp bl br">420278·40</td> + </tr><tr> + <td class="tdl_wsp bl">As by Press Room Beam.</td> + <td class="tdr_wsp bb">423606·37</td> + <td class="tdl_wsp bl">Florin Brockages.</td> + <td class="tdr_wsp bl bb">2951·76</td> + <td class="tdr_wsp bl br">3069·61</td> + </tr><tr> + <td class="tdl_wsp bl">Showing no difference.</td> + <td class="tdr_wsp">0·00</td> + <td class="tdl_wsp bl">Florin Pyx Pieces.</td> + <td class="tdr_wsp bl bb">283·86</td> + <td class="tdr_wsp bl br">283·86</td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">423602·90</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss</td> + <td class="tdr_wsp bl">3·47</td> + <td class="tdr_wsp bl br"> </td> +</tr><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Shillings</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Annealing Room Beam.</td> + <td class="tdr_wsp">315190·47</td> + <td class="tdl_wsp bl">Shilling Coin</td> + <td class="tdr_wsp bl">313853·64</td> + <td class="tdr_wsp bl br">313847·00</td> + </tr><tr> + <td class="tdl_wsp bl">As by Press Room Beam.</td> + <td class="tdr_wsp bb">315190·47</td> + <td class="tdl_wsp bl">Shilling Brockages.</td> + <td class="tdr_wsp bl bb">1227·88</td> + <td class="tdr_wsp bl br">1228·17</td> + </tr><tr> + <td class="tdl_wsp bl">Showing no difference.</td> + <td class="tdr_wsp">0·00</td> + <td class="tdl_wsp bl">Shilling Pyx Pieces.</td> + <td class="tdr_wsp bl bb">107·87</td> + <td class="tdr_wsp bl br">107·87</td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">315189·39</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss</td> + <td class="tdr_wsp bl">1.08</td> + <td class="tdr_wsp bl br"> </td> +</tr><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Sixpences.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Annealing Room Beam.</td> + <td class="tdr_wsp">98980·28</td> + <td class="tdl_wsp bl">Sixpenny Coin</td> + <td class="tdr_wsp bl">98279·81</td> + <td class="tdr_wsp bl br">98271·65</td> + </tr><tr> + <td class="tdl_wsp bl">As by Press Room Beam.</td> + <td class="tdr_wsp bb">98980·28</td> + <td class="tdl_wsp bl">Sixpenny Brockages</td> + <td class="tdr_wsp bl bb">678·84</td> + <td class="tdr_wsp bl br">678·84</td> + </tr><tr> + <td class="tdl_wsp bl">Showing no difference.</td> + <td class="tdr_wsp">0·54</td> + <td class="tdl_wsp bl">Sixpenny Pyx Pieces.</td> + <td class="tdr_wsp bl bb">21·18</td> + <td class="tdr_wsp bl br">21·18</td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Deduct “received.”</td> + <td class="tdr_wsp bl bb">98979·83</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss</td> + <td class="tdr_wsp bl">0·45</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdc bl" colspan="2"><b>Blanks for Threepences.</b></td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp">Ounces.</td> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp bl"> </td> + <td class="tdr_wsp bl br"> </td> + </tr><tr> + <td class="tdl_wsp bl">As by Annealing Room Beam.</td> + <td class="tdr_wsp">19304·08</td> + <td class="tdl_wsp bl">Threepenny Coin.</td> + <td class="tdr_wsp bl">19145·45</td> + <td class="tdr_wsp bl br">19159·20</td> + </tr><tr> + <td class="tdl_wsp bl">As by Press Room Beam</td> + <td class="tdr_wsp bb">19304·08</td> + <td class="tdl_wsp bl">Threepenny Brockages.</td> + <td class="tdr_wsp bl bb">154·85</td> + <td class="tdr_wsp bl br bb">154·85</td> + </tr><tr> + <td class="tdl_wsp bl">Showing no difference.</td> + <td class="tdr_wsp">0·00</td> + <td class="tdl_wsp bl">Threepenny Pyx Pieces.</td> + <td class="tdr_wsp bl bb">3·02</td> + <td class="tdr_wsp bl br">3·02</td> + </tr><tr> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Deduct “Received.”</td> + <td class="tdr_wsp bl bb">19303·32</td> + <td class="tdr_wsp bl br"> </td> + </tr><tr class="bb"> + <td class="tdl_wsp bl"> </td> + <td class="tdr_wsp"> </td> + <td class="tdl_wsp bl">Loss</td> + <td class="tdr_wsp bl">0·76</td> + <td class="tdr_wsp bl br">857103·65</td> + </tr> + </tbody> +</table> + +<table class="spb1 spa2"> + <tbody><tr> + <td class="tdl"> </td> + <td class="tdc">Ounces.</td> + </tr><tr> + <td class="tdl">Total received from Mint Office </td> + <td class="tdr">1499104·00</td> + </tr><tr> + <td class="tdl"> ” returned to<span class="ws2">”</span><span class="ws2">”</span></td> + <td class="tdr bb">1498503·73</td> + </tr><tr> + <td class="tdl">Loss</td> + <td class="tdr bb2">600·27</td> + </tr> + </tbody> +</table> + +<p class="blockquot fs_90">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.</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl_ws1" colspan="6">The mean rate of</td> + </tr><tr> + <td class="tdl">The</td> + <td class="tdl_wsp">Ends was</td> + <td class="tdr">3·94</td> + <td class="tdl_wsp">per cent.</td> + <td class="tdl_wsp">on the</td> + <td class="tdl_wsp">Rough Bars.</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">Scissel was</td> + <td class="tdr">37·85</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">Rejected Blanks was  </td> + <td class="tdr">0·89</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">Brockages was</td> + <td class="tdr">0·38</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">Coined Money was</td> + <td class="tdr">56.87</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">Coined Money was</td> + <td class="tdr">59·22</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + <td class="tdl_wsp">Clean Bars</td> + </tr> + </tbody> +</table> + +<p class="f120"><b>WAGES PAID TO WORKMEN BY PIECE-WORK SCALE.</b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl" colspan="2"> </th> + <th class="tdc bl">Florins.</th> + <th class="tdc bl">Shillings.</th> + <th class="tdc bl">Sixpences.</th> + <th class="tdc bl br"> Threepences. </th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl">For</td> + <td class="tdl">Melting</td> + <td class="tdr_wsp bl">13·215</td> + <td class="tdr_wsp bl">9·176</td> + <td class="tdr_wsp bl">3·079</td> + <td class="tdr_wsp bl br">0·584</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl">Rolling</td> + <td class="tdr_wsp bl">45·521</td> + <td class="tdr_wsp bl">42·045</td> + <td class="tdr_wsp bl">28·111</td> + <td class="tdr_wsp bl br">8·165</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl">Cutting</td> + <td class="tdr_wsp bl">44·165</td> + <td class="tdr_wsp bl">46·008</td> + <td class="tdr_wsp bl">28·899</td> + <td class="tdr_wsp bl br">8·052</td> + </tr><tr> + <td class="tdc bl">”</td> + <td class="tdl">Annealing</td> + <td class="tdr_wsp bl">35·300</td> + <td class="tdr_wsp bl">45·965</td> + <td class="tdr_wsp bl">28·869</td> + <td class="tdr_wsp bl br">11·260</td> + </tr><tr class="bb"> + <td class="tdc bl">”</td> + <td class="tdl">Coining</td> + <td class="tdr_wsp bl">29·192</td> + <td class="tdr_wsp bl">39·231</td> + <td class="tdr_wsp bl">24·570</td> + <td class="tdr_wsp bl br">9·572</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl" colspan="2">Total wages paid</td> + <td class="tdr_wsp bl"> £167·393</td> + <td class="tdr_wsp bl"> £182·425</td> + <td class="tdr_wsp bl"> £113·528</td> + <td class="tdr_wsp bl br">£37·633</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl" colspan="2">Rate paid for each <br> 100 lbs. troy of<br> Coined Money.</td> + <td class="tdr_wsp bl">£0·475</td> + <td class="tdr_wsp bl">£0·697</td> + <td class="tdr_wsp bl">£1·386</td> + <td class="tdr_wsp bl br">£2·358</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"> </th> + <th class="tdc bl">Rate per cent. of<br>Coined Money<br> from Rough Bars. </th> + <th class="tdc bl br">Rate per cent. of<br>Coined Money<br> from Clean Bars. </th> + </tr></thead> + <tbody><tr> + <td class="tdl_wsp bl">Florins</td> + <td class="tdc bl">55·26</td> + <td class="tdc bl br">57·76</td> + </tr><tr> + <td class="tdl_wsp bl">Shillings</td> + <td class="tdc bl">59·38</td> + <td class="tdc bl br">62·22</td> + </tr><tr class="bb"> + <td class="tdl_wsp bl">Sixpences </td> + <td class="tdc bl">55·96</td> + <td class="tdc bl br">58·29</td> + </tr><tr> + <td class="tdl_ws1 bl br" colspan="3"><i>To the</i> <span class="smcap">Master of the Mint.</span></td> + </tr><tr> + <td class="tdr_wsp bl br" colspan="3">GEORGE F. ANSELL.</td> + </tr><tr class="bb"> + <td class="tdl_ws1 bl br" colspan="3"><i>May 6th 1858.</i></td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_162">[Pg 162]</span></p> + +<p>It would appear necessary that I should now give⁠<a id="FNanchor_124_124" href="#Footnote_124_124" class="fnanchor">[124]</a> 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 +(<a href="#Page_92">see page 92</a>); 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 <i>supply</i>, 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.</p> + +<p>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 +<i>evaporations</i>, and removed the word <i>loss</i> which was +habitually printed at the foot of each day’s account, replacing it by +the word <span class="allsmcap">GAIN</span>, because that significant +word expressed what should have happened, and that which under me did +really take place in these rooms.</p> + +<p>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<i>d.</i> 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<i>s.</i> in nominal value in copper money.</p> + +<p>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 +<span class="pagenum" id="Page_163">[Pg 163]</span> +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.</p> + +<p>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 <i>to defray the loss on bronze</i>, +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<i>s.</i> 2<i>d.</i> Why was the £1,000 asked for, and what became of +the £6,318 0<i>s.</i> 2<i>d.</i>? and further, why was that modest sum +allowed to take the place of the proper profit, or £25,825?</p> + +<p>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 <span class="allsmcap">A.M.</span> 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<i>s.</i> was made where £258 should have been made.</p> + +<p>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 +<span class="pagenum" id="Page_164">[Pg 164]</span> +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.</p> + +<p>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<i>s.</i> 11<i>d.</i> between +the years 1860-68, <i>without an instance of loss</i>, Mr. Fremantle +not only alters all the figures relating to the copper purchased, +but reduces Mr. Graham’s profit to £403,376 18<i>s.</i> 6<i>d.</i> +and shows <i>a loss</i> in 1864 to the extent of £31,896 13<i>s.</i> +4<i>d.</i>; which sum, deducted from £435,273 11<i>s.</i> 10<i>d.</i>, +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 <span class="pagenum" id="Page_165">[Pg 165]</span> +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<i>s.</i> +6<i>d.</i>, or at the rate of £137·35 per centum on the copper +purchased.</p> + +<div class="blockquot"> +<p class="neg-indent"><span class="smcap"><b>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.</b></span></p> + +<p class="center">(Mr. AYRTON, <a href="#Page_4">page 4</a>.)</p> +</div> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"> Date </th> + <th class="tdc bl" colspan="3">Total Value of<br> Copper Coined. </th> + <th class="tdc bl" colspan="3"> Purchase Value <br>of Copper.</th> + <th class="tdc bl" colspan="3">Profit on<br>Coinage.</th> + <th class="tdc bl br" colspan="3">Loss on<br> Coinage. </th> + </tr></thead> + <tbody><tr> + <td class="tdc bl">1860</td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Copper</td> + <td class="tdr_wsp bl">134</td> <td class="tdr_wsp">8</td> <td class="tdr_wsp">0</td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdc bl br bb" colspan="3" rowspan="11"> </td> + </tr><tr> + <td class="tdl_wsp bl">Bronze</td> + <td class="tdr_wsp bl">37,856</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">9,185</td> <td class="tdr_wsp">2</td> <td class="tdr_wsp">11</td> + <td class="tdr_wsp bl">28,805</td> <td class="tdr_wsp">5</td> <td class="tdr_ws1">1</td> + </tr><tr> + <td class="tdl_ws2 bl">Bronze: </td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdc bl" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1861</td> + <td class="tdr_wsp bl">273,578</td> <td class="tdr_wsp">13</td> <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl">96,735</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">176,843</td> <td class="tdr_wsp">6</td> <td class="tdr_ws1">8</td> + </tr><tr> + <td class="tdc bl">1862</td> + <td class="tdr_wsp bl">352,800</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">203,389</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">149,411</td> <td class="tdr_wsp">0</td> <td class="tdr_ws1">0</td> + </tr><tr> + <td class="tdc bl">1863</td> + <td class="tdr_wsp bl">151,648</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">82,482</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">69,166</td> <td class="tdr_wsp">0</td> <td class="tdr_ws1">0</td> + </tr><tr> + <td class="tdc bl">1864</td> + <td class="tdr_wsp bl">18,069</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">9,660</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">8,409</td> <td class="tdr_wsp">6</td> <td class="tdr_ws1">8</td> + </tr><tr> + <td class="tdc bl">1865</td> + <td class="tdr_wsp bl">57,493</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">31,740</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">25,753</td> <td class="tdr_wsp">6</td> <td class="tdr_ws1">8</td> + </tr><tr> + <td class="tdc bl">1866</td> + <td class="tdr_wsp bl">50,624</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">26,910</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">23,714</td> <td class="tdr_wsp">0</td> <td class="tdr_ws1">0</td> + </tr><tr> + <td class="tdc bl">1867</td> + <td class="tdr_wsp bl">33,301</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">18,960</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">14,341</td> <td class="tdr_wsp">6</td> <td class="tdr_ws1">8</td> + </tr><tr> + <td class="tdc bl">1868</td> + <td class="tdr_wsp bl bb">16,328</td> <td class="tdr_wsp bb">0</td> <td class="tdr_wsp bb">2</td> + <td class="tdr_wsp bl bb">10,010</td> <td class="tdr_wsp bb">0</td> <td class="tdr_wsp bb">0</td> + <td class="tdr_wsp bl bb">6,318</td> <td class="tdr_wsp bb">0</td> <td class="tdr_ws1 bb">2</td> + </tr><tr class="bb"> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl">991,833</td> <td class="tdr_wsp">1</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl">489,071</td> <td class="tdr_wsp">9</td> <td class="tdr_wsp">7</td> + <td class="tdr_wsp bl">502,761</td> <td class="tdr_wsp">11</td> <td class="tdr_ws1">11</td> + <td class="tdr_wsp bl br" colspan="3"> </td> + </tr><tr> + <td class="tdr_wsp" colspan="13">THOS. GRAHAM, <span class="smcap">Master of the Mint</span>.</td> + </tr><tr> + <td class="tdl_wsp" colspan="13"><span class="smcap">Royal Mint</span>, <i>19th April, 1869</i>.</td> + </tr> + </tbody> +</table> + +<div class="blockquot"> +<p class="neg-indent"><span class="smcap"><b>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.</b></span></p> + +<p class="center">(Mr. STANSFELD, <a href="#Page_4">page 4</a>.)</p> +</div> + +<ul class="index"> +<li class="isub2">LEGEND:</li> +<li class="isub4"><b>(A)</b> = Total Value of Copper Coined.</li> +<li class="isub4"><b>(B)</b> = Total Amount Paid for Copper Bullion and Old Copper Coin.</li> +</ul> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl"> Date </th> + <th class="tdc bl fs_120" colspan="3">(A)</th> + <th class="tdc bl" colspan="3">(B)</th> + <th class="tdc bl" colspan="3">Profit on<br>Coinage.</th> + <th class="tdc bl br" colspan="3">Loss on<br>Coinage.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl">1860</td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc fs_120 bl">£</td> <td class="tdc fs_120"><i>s.</i></td> <td class="tdc fs_120 br"><i>d.</i></td> + </tr><tr> + <td class="tdl_wsp bl">Copper</td> + <td class="tdr_wsp bl">134</td> <td class="tdr_wsp">8</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">16,317</td> <td class="tdr_wsp">10</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">21,672</td> <td class="tdr_wsp">18</td> <td class="tdr_wsp">0</td> + <td class="tdc bl br" colspan="3" rowspan="6"> </td> + </tr><tr> + <td class="tdl_wsp bl">Bronze</td> + <td class="tdr_wsp bl">37,856</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdc bl" colspan="3"> </td> + </tr><tr> + <td class="tdl_ws2 bl">Bronze: </td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdc bl" colspan="3"> </td> + <td class="tdc bl" colspan="3"> </td> + </tr><tr> + <td class="tdc bl">1861</td> + <td class="tdr_wsp bl">273,578</td> <td class="tdr_wsp">13</td> <td class="tdr_wsp">4</td> + <td class="tdr_wsp bl">117,963</td> <td class="tdr_wsp">10</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">155,615</td> <td class="tdr_wsp">3</td> <td class="tdr_ws1">4</td> + </tr><tr> + <td class="tdc bl">1862</td> + <td class="tdr_wsp bl">352,800</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">230,784</td> <td class="tdr_wsp">3</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">122,015</td> <td class="tdr_wsp">17</td> <td class="tdr_ws1">0</td> + </tr><tr> + <td class="tdc bl">1863</td> + <td class="tdr_wsp bl">151,648</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">136,315</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">15,333</td> <td class="tdr_wsp">0</td> <td class="tdr_ws1">0</td> + </tr><tr> + <td class="tdc bl">1864</td> + <td class="tdr_wsp bl">18,069</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">49,966</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl" colspan="3"> </td> + <td class="tdr_wsp bl"> 31,896</td> <td class="tdr_wsp">13</td> <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdc bl">1865</td> + <td class="tdr_wsp bl">57,493</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">16,518</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">40,975</td> <td class="tdr_wsp">6</td> <td class="tdr_ws1">8</td> + <td class="tdr_wsp bl br" colspan="3" rowspan="5"> </td> + </tr><tr> + <td class="tdc bl">1866</td> + <td class="tdr_wsp bl">50,624</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">9,273</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">41,351</td> <td class="tdr_wsp">0</td> <td class="tdr_ws1">0</td> + </tr><tr> + <td class="tdc bl">1867</td> + <td class="tdr_wsp bl">33,301</td> <td class="tdr_wsp">6</td> <td class="tdr_wsp">8</td> + <td class="tdr_wsp bl">6,260</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">27,041</td> <td class="tdr_wsp">6</td> <td class="tdr_ws1">8</td> + </tr><tr> + <td class="tdc bl">1868</td> + <td class="tdr_wsp bl">16,328</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">2</td> + <td class="tdr_wsp bl">5,059</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">11,269</td> <td class="tdr_wsp">0</td> <td class="tdr_ws1">2</td> + </tr><tr class="bb"> + <td class="tdc bl">1869</td> + <td class="tdr_wsp bl">20,832</td> <td class="tdr_wsp">0</td> <td class="tdr_wsp">0</td> + <td class="tdr_wsp bl">8,355</td> <td class="tdr_wsp">15</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl br" colspan="3"> </td> + </tr><tr class="bb"> + <td class="tdc bl"> </td> + <td class="tdr_wsp bl"> 1,012,665</td> <td class="tdr_wsp">1</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl"> 596,811</td> <td class="tdr_wsp">18</td> <td class="tdr_wsp">6</td> + <td class="tdr_wsp bl"> 435,273</td> <td class="tdr_wsp">11</td> <td class="tdr_ws1">10</td> + <td class="tdr_wsp bl">31,896</td> <td class="tdr_wsp">13</td> <td class="tdr_ws1 br">4</td> + </tr><tr> + <td class="tdr_wsp" colspan="13">C. W. FREMANTLE, <span class="smcap">Deputy Master of the Mint</span>.</td> + </tr><tr> + <td class="tdl_wsp" colspan="13"><span class="smcap">Royal Mint</span>, <i>31st May, 1870</i>.</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_166">[Pg 166]</span> +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.</p> + +<p>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 <i>pyx</i> 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;⁠<a id="FNanchor_125_125" href="#Footnote_125_125" class="fnanchor">[125]</a> +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 +<span class="pagenum" id="Page_167">[Pg 167]</span> +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.</p> + +<p>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 <a href="#Page_10">pages 10-14</a>. The jury also +tested the coined money by weight, but did not test any individual coin +(see new law, <a href="#Page_70">pages 70-73</a>) 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 <span class="allsmcap">P.M.</span>, 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<i>s.</i> in +gold moneys, and £807 4<i>s.</i> 3<i>d.</i> 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.</p> + +<p>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<i>s.</i> 0¼<i>d.</i> in coined gold, and +£1,556,100 11<i>s.</i> 10<i>d.</i> in coined silver were submitted to +this test.</p> + +<p>In an earlier page⁠<a id="FNanchor_126_126" href="#Footnote_126_126" class="fnanchor">[126]</a> +I have expressed my views as to the worthlessness of the farce called +the <i>Trial of the Pyx</i>. While I studiously avoid altering that +expression of opinion, I am sorry that the <i>last</i> 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.</p> + +<p>The <i>Trial of the Pyx</i>—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.</p> + +<hr class="chap x-ebookmaker-drop"> +<div class="chapter"> +<p><span class="pagenum" id="Page_168">[Pg 168]</span></p> +<h2 class="nobreak">CONCLUDING REMARKS.</h2> +</div> + +<p>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—<i>vide</i> “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 (<a href="#Page_54">see pages 54-56</a>), +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 <a href="#Page_126">pages 126-127</a>.</p> + +<p>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.</p> + +<p>The want of knowledge exhibited in the Royal Mint is further +<span class="pagenum" id="Page_169">[Pg 169]</span> +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 <a href="#I_058">Mr. Boulton’s press</a>, +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.</p> + +<p>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<i>d.</i> (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<i>s.</i> 9<i>d.</i> 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.</p> + +<p>Colonel Tomline will perhaps consider the wisdom of re-establishing an +<span class="pagenum" id="Page_170">[Pg 170]</span> +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.</p> + +<p>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.</p> + +<p>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.</p> + +<p>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.</p> + +<p>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.”</p> + +<hr class="chap x-ebookmaker-drop"> +<div class="chapter"> +<p><span class="pagenum" id="Page_171">[Pg 171]</span></p> +<h2 class="nobreak">APPENDIX.</h2> +</div> + +<p class="f110"><span class="smcap">To the Right Honourable Lord Kinnaird, K.T.</span></p> +<p class="author"><span class="smcap">27, Bernard Street, Russell Square, W. C.</span><br> +<i>February 8th, 1871.</i></p> + +<p class="no-indent"><span class="smcap">My Lord</span>,</p> + +<p>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.</p> + +<p>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.”</p> + +<p>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.</p> + +<p>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 +<span class="pagenum" id="Page_172">[Pg 172]</span> +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:—</p> + +<p>“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.”</p> + +<p>Mr. Graham announced to me my appointment in the following note:—</p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Royal Mint, November 6th, 1856.</i></p> + +<p class="no-indent">“<span class="smcap">My dear Sir</span>,—</p> + +<p>“I am happy to inform you that your nomination to office in the Mint +has been approved by the Treasury.</p> + +<p>“Would you favour me with a call to-day before three o’clock, if +quite convenient; or, if not, to-morrow morning after eleven.</p> + +<p class="author">“Ever truly yours,<span class="ws4"> </span></p> + +<p>“<span class="smcap">George Frederick Ansell, Esq.</span>”</p> +<p class="author">“<span class="smcap">Thomas Graham.</span></p> +</div> + +<p>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, +<span class="pagenum" id="Page_173">[Pg 173]</span> +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.</p> + +<p>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.</p> + +<p>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.</p> + +<p>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.</p> + +<p>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.</p> + +<p>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 <i>habitual loss</i> by habitual gain.</p> + +<p>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. +<span class="pagenum" id="Page_174">[Pg 174]</span></p> + +<p class="center"><span class="smcap">Extracts from Letter of Master of the Mint<br> + to the Lords of the Treasury.</span></p> + +<div class="blockquot fs_90"> +<p class="author"><i>Royal Mint, August 6, 1857.</i></p> + +<p>“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.</p> + +<p>“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.</p> +</div> + +<hr class="tb"> + +<div class="blockquot fs_90"> +<p>“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<i>s.</i> per month when engaged from 8 +<span class="allsmcap">A.M.</span> till 6 <span class="allsmcap">P.M.</span> +I now beg strongly to recommend that Mr. Ansell’s monthly salary +shall be increased to £12 10<i>s.</i>, in consideration of his +valuable services, with the addition of £2 10<i>s.</i> per month +when engaged from 8 <span class="allsmcap">A.M.</span> to 6 +<span class="allsmcap">P.M.</span> as heretofore.</p> +</div> + +<hr class="tb"> + +<div class="blockquot fs_90"> +<p>(The master then goes on to request my Lords to do this for Mr. Ansell.)</p> +<p class="author">“<span class="smcap">Tho. Graham.</span></p> +<p>“<i>August 6, 1857</i> (No. 1114).”</p> +</div> + +<p class="spa2">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:—</p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Royal Mint, 10th July, 1857.</i></p> + +<p>“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.</p> +<p class="author">(Signed)<span class="ws4">“</span><span class="smcap">Tho. Graham.</span>”</p> +</div> + +<p class="center spa2"><span class="smcap">(Extract.) Letter from the Treasury to the Master of the Mint.</span></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>25th August, 1857.</i></p> + +<p>“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.</p> + +<p class="author">(Signed)<span class="ws4">“</span><span class="smcap">W. H. Stephenson.</span></p> +<p>“<i>Mint (No. 1163), 27th August, 1857.</i>”</p> +</div> + +<p class="spa2"><span class="pagenum" id="Page_175">[Pg 175]</span></p> + +<p class="spb2">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.</p> + +<p class="center"><span class="smcap">(Extract.) Letter from the Lords of the Treasury +to the Master of the Mint.</span></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Treasury Chambers, 3rd September, 1858.</i></p> + +<p class="no-indent">“<span class="smcap">Sir</span>,</p> + +<p>“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.</p> + +<p class="author">(Signed)<span class="ws4">“</span><span class="smcap">C. E. Trevelyan.</span></p> +<p>“<i>Treasury (No. 14409), 3rd September.</i></p> +<p>  “<span class="smcap">The Master of the Mint.</span>”</p> +</div> + +<p class="spa2">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:—</p> + +<p class="center spa2"><span class="smcap">To the Master of the Mint from George F. Ansell, Esq.</span></p> +<div class="blockquot fs_90"> +<p class="author">“<i>Royal Mint, January 6th, 1860.</i></p> + +<p class="no-indent">“<span class="smcap">Sir</span>,</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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. +<span class="pagenum" id="Page_176">[Pg 176]</span></p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“As a consequence of the abolition of the use of oil in the Coining +Department, the losses in the Melting House are greatly reduced.</p> + +<p>“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 +<span class="pagenum" id="Page_177">[Pg 177]</span> +(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.</p> + +<p>“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.</p> + +<p>“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<i>s.</i> 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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“With unmeasured hope and confidence,</p> + +<p class="author">“I am, Sir,<span class="ws10"> </span><br> +“Your most faithful servant,<span class="ws2"> </span><br> +“<span class="smcap">George F. Ansell.</span></p> +<p>“<span class="smcap">To the Master of the Mint.</span>”</p> +</div> + +<p class="spa2">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.</p> + +<p class="center spa2"><span class="smcap">(Extract.) Letter from the Master +of the Mint to the<br> Lords Commissioners of Her Majesty’s Treasury.</span></p> + +<div class="blockquot fs_90"> +<p class="author"><i>Royal Mint, 7th June, 1860.</i></p> +<p class="no-indent">“<span class="smcap">Sir,</span></p> + +<p>“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.</p> + +<p>“The waste in the Melting and Coining Departments will be stated +separately.</p> +</div> + +<p><span class="pagenum" id="Page_178">[Pg 178]</span></p> + +<p class="f110 spa2"><b><span class="smcap">Waste in the Melting Department—Gold Coinage.</span></b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Date.</th> + <th class="tdc bl">Weight of<br>Gold<br>Coinage.</th> + <th class="tdc bl" colspan="3">Value of Gold<br>Coinage.</th> + <th class="tdc bl"> Amount of <br>Waste.</th> + <th class="tdc bl br" colspan="3">Value of<br>Waste.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> April 1, 1858, to </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc br fs_120"><i>d.</i></td> + </tr><tr class="bb"> + <td class="tdc bl">March 31, 1859</td> + <td class="tdc bl"> 736150·582 </td> + <td class="tdr_wsp bl"> 2,866,386</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp">6¾</td> + <td class="tdr_wsp bl">248·804</td> + <td class="tdr_wsp bl"> 968</td> + <td class="tdr_wsp">15</td> + <td class="tdr_wsp br">7¼</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Date.</th> + <th class="tdc bl" colspan="3">Value of<br>Sweep<br> recovered. </th> + <th class="tdc bl" colspan="3">Value of<br> Waste per <br>Million.</th> + <th class="tdc bl br" colspan="3">Value of<br> Sweep per <br>Million.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> April 1, 1858, to </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc br fs_120"><i>d.</i></td> + </tr><tr class="bb"> + <td class="tdc bl">March 31, 1859</td> + <td class="tdr_wsp bl">231</td> + <td class="tdr_wsp">2</td> + <td class="tdr_wsp">1¼</td> + <td class="tdr_wsp bl">337</td> + <td class="tdr_wsp">19</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp bl">80</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp br">6¼</td> + </tr> + </tbody> +</table> + +<div class="blockquot fs_90"> +<p>“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:—</p> + +<p>“On a gold coinage of £2,866,386 6<i>s.</i> 6¾<i>d.</i> the net loss by +account in the Melting Department is £737 16<i>s.</i> 5¾<i>d.</i>; this +gives on a million coined a net loss of £257 7<i>s.</i> 0¾<i>d.</i> 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.</p> +</div> + +<p class="f110 spa2"><b><span class="smcap">Waste in Coining Department—Gold Coinage.</span></b></p> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Date.</th> + <th class="tdc bl">Weight of<br>Coinage.</th> + <th class="tdc bl" colspan="3">Value of<br>Coinage.</th> + <th class="tdc bl"> Amount of <br>Waste.</th> + <th class="tdc bl br" colspan="3">Value of<br>Waste.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> April 1, 1858, to </td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl">Ounces.</td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc br fs_120"><i>d.</i></td> + </tr><tr class="bb"> + <td class="tdc bl">March 31, 1859</td> + <td class="tdc bl"> 736150·582 </td> + <td class="tdr_wsp bl"> 2,866,386</td> + <td class="tdr_wsp">6</td> + <td class="tdr_wsp">6¾</td> + <td class="tdr_wsp bl">16·603</td> + <td class="tdr_wsp bl"> 64</td> + <td class="tdr_wsp">12</td> + <td class="tdr_wsp br">11¼</td> + </tr> + </tbody> +</table> + +<table class="spb1"> + <thead><tr class="bt bb"> + <th class="tdc bl">Date.</th> + <th class="tdc bl" colspan="3">Value of<br>Sweep<br> recovered. </th> + <th class="tdc bl" colspan="3">Value of<br> Waste per <br>Million.</th> + <th class="tdc bl br" colspan="3">Value of<br> Sweep per <br>Million.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> April 1, 1858, to </td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc bl fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc br fs_120"><i>d.</i></td> + </tr><tr class="bb"> + <td class="tdc bl">March 31, 1859</td> + <td class="tdr_wsp bl">209</td> + <td class="tdr_wsp">16</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp bl">22</td> + <td class="tdr_wsp">11</td> + <td class="tdr_wsp">0¾</td> + <td class="tdr_wsp bl">73</td> + <td class="tdr_wsp">4</td> + <td class="tdr_wsp br">0¾</td> + </tr> + </tbody> +</table> + +<div class="blockquot fs_90"> +<p>“On a gold coinage of £2,866,386 6<i>s.</i> 6¾<i>d.</i> the account +shows a waste amounting to £64 12<i>s.</i> 11½<i>d.</i>, with sweep +recovered amounting to £209 16<i>s.</i> 7<i>d.</i> The Coining +Department therefore returns a surplus by account of £145 3<i>s.</i> +7½<i>d.</i>; that is, £209 16<i>s.</i> 7<i>d.</i> less £64 12<i>s.</i> +11¼<i>d.</i></p> + +<p>“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<i>s.</i> 0<i>d.</i> on +£1,000,000 coined.</p> + +<p>“A correct estimate of the whole waste in coining is obtained by +combining the returns of the two departments:—</p> +</div> + +<table class="spb1"> + <tbody><tr> + <td class="tdc"> </td> + <td class="tdc fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl">“Loss of Melting Department  </td> + <td class="tdr_wsp">257</td> + <td class="tdr_wsp">7</td> + <td class="tdr_wsp">0¾</td> + <td class="tdl_wsp">per million.</td> + </tr><tr> + <td class="tdl_wsp">Loss of Coining Department</td> + <td class="tdr_wsp bb">50</td> + <td class="tdr_wsp bb">13</td> + <td class="tdr_ws1 bb">0 </td> + <td class="tdc">”</td> + </tr><tr> + <td class="tdr_ws1">Difference</td> + <td class="tdr_wsp">206</td> + <td class="tdr_wsp">14</td> + <td class="tdr_wsp">0¾</td> + <td class="tdc">”</td> + </tr> + </tbody> +</table> + +<div class="blockquot fs_90"> +<p>“It thus appears that in 1858-9 the net loss in minting £1,000,000 gold +was £206 14<i>s.</i> 0¾<i>d.</i></p> + +<p>“The annual loss since the reconstitution of the Mint in 1851 is as +follows.</p> + +<p>“Loss of bullion (waste, less sweep recovered) in minting £1,000,000 +gold—</p> +</div> + +<table class="spb1"> + <tbody><tr> + <td class="tdc"> </td> + <td class="tdc"> </td> + <td class="tdc fs_120">£</td> + <td class="tdc fs_120"><i>s.</i></td> + <td class="tdc fs_120"><i>d.</i></td> + <td class="tdc"> </td> + </tr><tr> + <td class="tdl">In</td> + <td class="tdl_wsp">1851-52  </td> + <td class="tdr_wsp">479</td> + <td class="tdr_wsp">5</td> + <td class="tdl_ws1">8</td> + <td class="tdl_bott" rowspan="9">partly by estimate.</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">1852-53</td> + <td class="tdr_wsp">921</td> + <td class="tdr_wsp">10</td> + <td class="tdl_ws1">7</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">1853-54</td> + <td class="tdr_wsp">795</td> + <td class="tdr_wsp">11</td> + <td class="tdl_ws1">7¾</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">1854-55</td> + <td class="tdr_wsp">661</td> + <td class="tdr_wsp">2</td> + <td class="tdl_ws1">4¼</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">1855-56</td> + <td class="tdr_wsp">724</td> + <td class="tdr_wsp">1</td> + <td class="tdl_ws1">3</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">1856-57</td> + <td class="tdr_wsp">691</td> + <td class="tdr_wsp">14</td> + <td class="tdl_ws1">1¾</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">1857-58</td> + <td class="tdr_wsp">140</td> + <td class="tdr_wsp">4</td> + <td class="tdl_ws1">7⁠<a id="FNanchor_127_127" href="#Footnote_127_127" class="fnanchor">[127]</a></td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">1858-59</td> + <td class="tdr_wsp">206</td> + <td class="tdr_wsp">14</td> + <td class="tdl_ws1">0¾</td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">1859-60</td> + <td class="tdr_wsp">187</td> + <td class="tdr_wsp">0</td> + <td class="tdl_ws1">0</td> + </tr> + </tbody> +</table> + +<p><span class="pagenum" id="Page_179">[Pg 179]</span></p> + +<div class="blockquot"> +<p>“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.</p> + +<p>“It appears by the table that the average loss on the gold coinage of +the first six years is £784 0<i>s.</i> 0¾<i>d.</i>; and on the gold +coinage of the last three years, £172 8<i>s.</i> 11½<i>d.</i> per +million coined; showing an improvement of £611 11<i>s.</i> 1¼<i>d.</i> +per million coined. On the twelve millions of gold coined, during the +last three years, the saving exceeds twelve thousand pounds.</p> + +<p>“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.</p> +</div> + +<p class="f110 spa1"><b><span class="smcap">Proportion in 100 Sovereign Blanks Cut.</span></b></p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">“In</td> + <td class="tdl_wsp">1855</td> + <td class="tdl_wsp">21·49</td> + <td class="tdl_wsp">per cent.</td> + <td class="tdl_wsp"> </td> + <td class="tdl_wsp"> </td> + </tr><tr> + <td class="tdc">”</td> + <td class="tdl_wsp">1856</td> + <td class="tdl_wsp">18·51</td> + <td class="tdc">”</td> + <td class="tdl_wsp"> </td> + <td class="tdl_wsp"> </td> + </tr><tr> + <td class="tdl">”</td> + <td class="tdl_wsp">1859</td> + <td class="tdl_wsp">13·78</td> + <td class="tdc">”</td> + <td class="tdl_wsp">Under</td> + <td class="tdl_wsp">present officers.</td> + </tr><tr> + <td class="tdl">”</td> + <td class="tdl_wsp">1860</td> + <td class="tdl_wsp"> 4·11</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + <td class="tdc">”</td> + </tr> + </tbody> +</table> + +<div class="blockquot fs_90"> +<p>“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.</p> + +<p>“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:—</p> + +<p>“To Mr. R. Pilcher £40.</p> + +<p>“To Meredith Jones £20.</p> + +<p>“Their Lordships have afforded encouragement on previous occasions to +voluntary efforts made within the Department in improving the machinery.</p> + +<p>“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 +<span class="pagenum" id="Page_180">[Pg 180]</span> +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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p class="author">(Signed)<span class="ws4">“</span><span class="smcap">Tho. Graham.</span></p> +<p>“To <span class="smcap">George A. Hamilton, Esq.</span>, Treasury.”</p> +</div> + +<p>I quote thus much of this letter to prove to your Lordship that +<span class="smcap">the Master adopted my recommendations</span>; +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<i>s.</i> 11¾<i>d.</i>, 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:—</p> + +<p class="f110 spa1">“<b><span class="smcap">From the Treasury to the Master of the Mint.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author"><i>Treasury Chambers, 22nd September, 1860.</i></p> + +<p class="no-indent">“<span class="smcap">Sir</span>,</p> + +<p>“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.</p> + +<p class="author">(Signed)<span class="ws3">“</span><span class="smcap">George A. Hamilton.</span></p> + +<p><span class="ws2">“</span><span class="smcap">The Master of the Mint.</span></p> +<p>“<i>Mint Number, 2988, 24th September, 1860.</i>”</p> +</div> + +<p><span class="pagenum" id="Page_181">[Pg 181]</span></p> + +<p>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:—</p> + +<p class="f110 spa1"><b><span class="smcap">From the Treasury to the Master of the Mint.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Treasury Chambers, 19th October, 1860.</i></p> +<p class="no-indent">“<span class="smcap">Sir</span>,</p> + +<p>“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.</p> + +<p class="author">(Signed)<span class="ws3">“</span><span class="smcap">George A. Hamilton.</span></p> +<p>  “<span class="smcap">The Master of the Mint.</span><br> +“<i>Mint Number, 3024, 20th October, 1860.</i>”</p> +</div> + +<p>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:—</p> + +<p class="f110 spa1"><b><span class="smcap">The Master of the Mint to G. F. Ansell, Esq.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Royal Mint, 20th October, 1860.</i></p> + +<p class="no-indent">“<span class="smcap">Dear Sir</span>,</p> + +<p>“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.</p> + +<p class="author"><span class="ws6">“I have the honour to remain,<span class="ws6"> </span><br> +“Dear</span> Sir,<span class="ws6"> </span><br>“Most faithfully yours,<br> +(Signed)<span class="ws3">“</span><span class="smcap">Tho. Graham.</span></p> + +<p>  “<span class="smcap">George F. Ansell, Esq.</span><br> +“<i>Mint Number, 3026, 1860.</i>”</p> +</div> + +<p>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.</p> + +<p class="f110 spa1"><b><span class="smcap">(Extract.) Letter from the Treasury<br> +to the Master of the Mint.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Treasury Chambers, 25th September, 1861.</i></p> +<p class="no-indent">“<span class="smcap">Sir</span>,</p> + +<p>“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.</p> + +<p class="author">(Signed)<span class="ws4">“</span><span class="smcap">George A. Hamilton.</span></p> + +<p>  “<span class="smcap">The Master of the Mint.</span><br> +“<i>Mint Number, 454, 26th September, 1861.</i>”</p> +</div> + +<p><span class="pagenum" id="Page_182">[Pg 182]</span> +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 <i>extra clerks were not +at liberty to apply for promotion</i>, 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.”</p> + +<p>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.</p> + +<p>It now becomes necessary to show by what occurrences my name was +brought to your Lordship’s notice, and this I will do briefly.</p> + +<p>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 <span class="smcap">Graham’s Law</span>, +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 <i>diffusion</i> 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 +<span class="pagenum" id="Page_183">[Pg 183]</span> +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.</p> + +<p>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 <i>Times</i>, 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 <span class="allsmcap">P.M.</span> 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.”</p> + +<p>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.</p> + +<p>It was amidst such circumstances that I sought the assistance of your +Lordship; which commenced with the following correspondence:—</p> + +<p class="f110"><b><span class="smcap">From the Right Hon. Lord Kinnaird, K.T.,<br> +to the Right Hon. B. Disraeli.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Rossie Priory, Inchture, N.B.</i>,<br> +“<i>August 28th, 1868.</i></p> +<p class="no-indent">“<span class="smcap">Dear Sir</span>,</p> + +<p>“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.</p> + +<p>“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,</p> + +<p class="author">“I remain,<span class="ws8"> </span><br> +“Yours faithfully,<span class="ws4"> </span><br> +(Signed)<span class="ws3">“</span><span class="smcap">Kinnaird.</span></p> + +<p>“<span class="smcap">The Right Hon. B. Disraeli.</span>”</p> +</div> + +<p><span class="pagenum" id="Page_184">[Pg 184]</span></p> + +<p class="f110 spa2"><b><span class="smcap">Enclosure.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Royal Mint, August 28th, 1868.</i></p> +<p class="no-indent">“<span class="smcap">Sir</span>,</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“From 1851 to 1856 the average ‘loss by coining,’ as it was then +called, was</p> + +<p class="center no-wrap">In gold, £581·42 per million pounds sterling.<br> +In silver, £271·00 per million ounces coined.</p> + +<p>“During the same years the average number of blank coins rejected was</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">In gold,</td> + <td class="tdl_wsp">17·92</td> + <td class="tdl_wsp">per cent.</td> + </tr><tr> + <td class="tdl">In silver,</td> + <td class="tdl_wsp">25·00</td> + <td class="tdc">”</td> + </tr> + </tbody> +</table> + +<p>“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,</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">In gold,</td> + <td class="tdl_wsp">£356·33</td> + <td class="tdl_wsp">per million pounds sterling.</td> + </tr><tr> + <td class="tdl">In silver,</td> + <td class="tdl_wsp">£210·75</td> + <td class="tdl_wsp">per million ounces coined.</td> + </tr> + </tbody> +</table> + +<p>“Soon after I entered the Mint I was taken into the confidence +of the Master.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“You, Sir, will be able to judge of my success by the following +results:—</p> + +<p>“Instead of any ‘loss by coining’ since 1856 to the present date, +there has been, on the average, a positive gain:—</p> + +<p>In gold, £20 per million pounds sterling coined;</p> + +<p>While for silver, £55·75 per million ounces coined is the total +average loss.</p> + +<p>“During the same time the average number of blank coins rejected +has been</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">In gold,</td> + <td class="tdl_wsp">2·07</td> + <td class="tdl_wsp">per cent.</td> + </tr><tr> + <td class="tdl">In silver,</td> + <td class="tdl_wsp">1·00</td> + <td class="tdc">”</td> + </tr> + </tbody> +</table> + +<p>“During the same period the average loss by melting has been reduced to,</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">In gold,</td> + <td class="tdl_wsp">£271·90</td> + <td class="tdl_wsp">per million pounds sterling.</td> + </tr><tr> + <td class="tdl">In silver,</td> + <td class="tdl_wsp">£57·90</td> + <td class="tdl_wsp">per million ounces coined.</td> + </tr> + </tbody> +</table> + +<p>“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 +<span class="pagenum" id="Page_185">[Pg 185]</span> +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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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<i>s.</i> 4<i>d.</i> +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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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. +<span class="pagenum" id="Page_186">[Pg 186]</span></p> + +<p>“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.</p> + +<p class="author">“I have the honour to be, Sir,<span class="ws6"> </span><br> +“Your most obedient servant,<span class="ws4"> </span><br> +(Signed)<span class="ws3"> “</span><span class="smcap">George P. Ansell.</span></p> + +<p>“<span class="smcap">The Right Honourable B. Disraeli</span>,<br> +“Hughendon Manor, Buckinghamshire.”</p> +</div> + +<p class="spa2">This application, I would remind your Lordship, was made while Mr. +Disraeli was First Minister of the Crown, and was acknowledged as follows:—</p> + +<div class="blockquot fs_90"> +<p class="author">“<i>10, Downing Street, Whitehall, August 31st, 1868.</i></p> + +<p class="no-indent">“<span class="smcap">My Lord</span>,</p> + +<p>“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.</p> + +<p class="author">“I have the honour to be, my Lord,<span class="ws6"> </span><br> +“Your obedient servant,<span class="ws6"> </span><br> +(Signed)<span class="ws3">“</span><span class="smcap">Montagu Corry.</span></p> + +<p>“<span class="smcap">The Lord Kinnaird.</span>”</p> +</div> + +<p>On the 3rd September, 1868, Mr. Montagu Corry called on the Master of +the Mint and remained with him some considerable time.</p> + +<p>On the 28th September I received by a messenger, without any further +intimation, the following note:—</p> + +<p class="f110"><b><span class="smcap">The Master of the Mint to G. F. Ansell, Esq.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Royal Mint, 28th September, 1868.</i></p> + +<p class="no-indent">“<span class="smcap">Dear Sir</span>,</p> + +<p>“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.</p> + +<p>“Your assistance will not, therefore, be required beyond the 31st +December next.</p> + +<p class="author">“I remain, faithfully yours,<span class="ws6"> </span><br> +(Signed)<span class="ws2">“</span><span class="smcap">Tho. Graham.</span></p> + +<p>“<span class="smcap">G. F. Ansell, Esq.</span>”</p> +</div> + +<p class="spa2">Which I immediately forwarded to your Lordship, asking +advice, when you were so good as to write as follows:—</p> + +<p class="f110"><b><span class="smcap">The Rt. Hon. Lord Kinnaird, K.T.,<br> +to the Rt. Hon. B. Disraeli.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Rossie Priory, Inchture, N.B., September 30th, 1868.</i></p> + +<p class="no-indent">“<span class="smcap">Dear Sir</span>,</p> + +<p>“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). +<span class="pagenum" id="Page_187">[Pg 187]</span></p> + +<p>“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.</p> + +<p class="author">“Yours faithfully,<span class="ws4"> </span><br> +(Signed)<span class="ws2">“</span><span class="smcap">Kinnaird.</span></p> + +<p>“<span class="smcap">The Right Hon. B. Disraeli, Grosvenor Gate.</span>”</p> +</div> + +<p class="spa2">Your Lordship also wrote letters to the noblemen and gentlemen +who had supported my application.</p> + +<p>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.</p> + +<p class="f110 spa2"><b><span class="smcap">The Rt. Hon. Lord Kinnaird, K.T.,<br> +to the Rt. Hon. W. E. Gladstone.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Rossie Priory, Inchture, N.B., December 25th, 1868.</i></p> + +<p class="no-indent">“<span class="smcap">Dear Mr. Gladstone</span>,</p> + +<p>“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 <i>pressing</i>, as, if anything is to be done in the +matter, initiatory steps must be taken before the 31st.</p> + +<p>“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 <i>he had been twelve years</i> in the +service, gave him notice to quit on the 31st of this month, and the +office of Deputy has been filled up.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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, <i>after twelve years’</i> service, on the +<i>plea</i> 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 <i>cause an inquiry</i> 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. +<span class="pagenum" id="Page_188">[Pg 188]</span></p> + +<p>“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,</p> + +<p class="author">“I remain, yours faithfully,<span class="ws5"> </span><br> +(Signed)<span class="ws2">“</span><span class="smcap">Kinnaird.</span></p> + +<p>“<span class="smcap">The Rt. Hon. W. E. Gladstone</span>, &c., &c.”</p> +</div> + +<p class="spa2">On the 30th December your Lordship wrote me a letter, +in which you said:—</p> + +<p>“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.”</p> + +<p>Your Lordship again wrote on the 5th January, 1869, enclosing a letter</p> + +<p class="f110 spa2"><b><span class="smcap">From the Rt. Hon. Robert Lowe<br> +to the Rt. Hon. Lord Kinnaird, K.T.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>11, Downing St., Whitehall, 4th January, 1869.</i></p> + +<p class="no-indent">“<span class="smcap">My Dear Lord</span>,</p> + +<p>“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.</p> + +<p>“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.</p> + +<p class="author">“Believe me,<span class="ws6"> </span><br> +“Yours truly,<span class="ws4"> </span><br> +(Signed)<span class="ws3">“</span><span class="smcap">Robert Lowe.</span></p> + +<p>“<span class="smcap">Lord Kinnaird.</span>”</p> +</div> + +<p class="spa2">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:—</p> + +<p class="f110 spa2">“<span class="smcap">To the Right Honourable the Lords Commissioners<br> +of Her Majesty’s Treasury.</span></p> + +<div class="blockquot fs_90"> +<p class="center">“<span class="smcap">The Humble Memorial of George Frederick Ansell,</span><br> +of No. 27, Bernard Street, Russell Square,<br> Analytical Chemist.</p> + +<p class="no-indent">“Sheweth as follows:—</p> + +<p>“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 +<span class="pagenum" id="Page_189">[Pg 189]</span> +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:—</p> + +<p>“‘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.’</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“During the six years, 1851 to 1856, the average loss by coining, as +it was termed, was as follows:—</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">In gold,</td> + <td class="tdl_wsp">£581·420</td> + <td class="tdl_wsp">per million pounds sterling.</td> + </tr><tr> + <td class="tdl">In silver,</td> + <td class="tdl_wsp">£271·000</td> + <td class="tdl_wsp">per million ounces coined.</td> + </tr> + </tbody> +</table> + +<p>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:—</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">In gold,</td> + <td class="tdl_wsp">£356·330</td> + <td class="tdl_wsp">per million pounds sterling.</td> + </tr><tr> + <td class="tdl">In silver,</td> + <td class="tdl_wsp">£210·750</td> + <td class="tdl_wsp">per million ounces coined.</td> + </tr> + </tbody> +</table> + +<p>“During the same period, the average number of blank coins rejected was:—</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">In gold,</td> + <td class="tdl_wsp">17·92</td> + <td class="tdl_wsp">per cent.</td> + </tr><tr> + <td class="tdl">In silver,</td> + <td class="tdl_wsp">25·00</td> + <td class="tdc">”</td> + </tr> + </tbody> +</table> + + +<p>“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. +<span class="pagenum" id="Page_190">[Pg 190]</span></p> + +<p>“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:—</p> + +<table class="spb1"> + <tbody><tr> + <td class="tdl">In gold,</td> + <td class="tdl_wsp">£271·900</td> + <td class="tdl_wsp">per million pounds sterling.</td> + </tr><tr> + <td class="tdl">In silver,</td> + <td class="tdl_wsp">£57·900</td> + <td class="tdl_wsp">per million ounces coined.</td> + </tr> + </tbody> +</table> + +<p>“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:—</p> +</div> + +<table class="spb1 spa2"> + <thead><tr class="bt bb"> + <th class="tdc bl br bb fs_120" colspan="6">Coining Department.</th> + </tr><tr> + <th class="tdc bl bb" rowspan="2">Date.</th> + <th class="tdc bl bb" rowspan="2">Money<br>coined.</th> + <th class="tdc bl bb" rowspan="2">Absolute loss<br> by peculations. </th> + <th class="tdc bl bb" colspan="2"> Averages per <br>£1,000,000<br>coined.</th> + <th class="tdc bl br bb" rowspan="2"> Absolute saving <br>effected by<br>stopping<br>peculation.</th> + </tr><tr> + <th class="tdc bl bb">Loss.</th> + <th class="tdc bl bb">Gain.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120 bl br">£</td> + </tr><tr> + <td class="tdc bl"> 1851-57 </td> + <td class="tdc bl"> 40,345,185 </td> + <td class="tdc bl">20,030</td> + <td class="tdc bl">491</td> + <td class="tdc bl">—</td> + <td class="tdc bl br">—</td> + </tr><tr class="bb"> + <td class="tdc bl">1857-66</td> + <td class="tdc bl">50,894,385</td> + <td class="tdc bl">Nil.</td> + <td class="tdc bl">Nil.</td> + <td class="tdc bl">26</td> + <td class="tdc bl br">27,736</td> + </tr> + </tbody> +</table> + +<table class="spb1 spa2"> + <thead><tr class="bt bb"> + <th class="tdc bl br bb fs_120" colspan="3">Melting Department.</th> + </tr><tr> + <th class="tdc bl bb">Date.</th> + <th class="tdc bl bb">Average loss<br>by melting<br> per £1,000,000 <br>coined.</th> + <th class="tdc bl br bb"> Absolute average <br>saving effected<br>by the disuse of<br>oil on the scissel.</th> + </tr></thead> + <tbody><tr> + <td class="tdc bl"> </td> + <td class="tdc fs_120 bl">£</td> + <td class="tdc fs_120 bl br">£</td> + </tr><tr> + <td class="tdc bl"> 1851-57 </td> + <td class="tdc bl">261</td> + <td class="tdc bl br">—</td> + </tr><tr class="bb"> + <td class="tdc bl">1857-66</td> + <td class="tdc bl">233</td> + <td class="tdc bl br">28</td> + </tr> + </tbody> +</table> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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, +<span class="pagenum" id="Page_191">[Pg 191]</span> +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.</p> + +<p>“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<i>s.</i> 4<i>d.</i> 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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“On the 28th of September, 1868, your Memorialist received his +dismissal from the service, in the following letter from the Master of +the Mint—</p> + +<div class="blockquot fs_90"> +<p class="author">‘<i>Royal Mint, 28th September, 1868.</i></p> +<p class="no-indent">‘<span class="smcap">Dear Sir</span>,</p> + +<p>‘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.</p> + +<p class="author">‘I remain,<span class="ws8"> </span><br> +‘Faithfully yours,<span class="ws4"> </span><br> +‘<span class="smcap">Tho. Graham</span>.</p> + +<p>‘<span class="smcap">G. F. Ansell, Esq.</span>’</p> +</div> + +<p class="spa2">“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.</p> + +<p>“Upon a reference to the communications to the Treasury from the Master +of the Mint, under the dates of</p> + +<ul class="index"> +<li class="isub4">29th October, 1856,</li> +<li class="isub4"> 6th August, 1857,</li> +<li class="isub4">17th August, 1858,</li> +<li class="isub4"> 7th and 8th July, 1860,</li> +</ul> + +<p class="no-indent"><span class="pagenum" id="Page_192">[Pg 192]</span> +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.</p> + +<p>“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.</p> + +<div class="blockquot fs_90"> +<p class="neg-indent">“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.</p> + +<p class="author">“<span class="smcap">George F. Ansell.</span></p> + +<p>“<i>10th February, 1869.</i>”</p> +</div> + +<p>On the 19th February, your Lordship enclosed to me the following +letter:—</p> + +<p class="f110 spa2"><b><span class="smcap">From C. Rivers Wilson, Esq.,<br> +to the Hon. A. Kinnaird, M.P.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>11, Downing Street, Whitehall, 15th February, 1869.</i></p> + +<p class="no-indent">“<span class="smcap">Dear Sir</span>,</p> + +<p>“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.</p> + +<p class="author">“I am, dear Sir,<span class="ws6"> </span><br> +“Yours faithfully,<span class="ws4"> </span><br> + (Signed)<span class="ws3">“</span><span class="smcap">C. Rivers Wilson.</span></p> + +<p>“<span class="smcap">Hon. Arthur Kinnaird, M.P.</span>”</p> +</div> + +<p class="spa2">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:— +<span class="pagenum" id="Page_193">[Pg 193]</span></p> + +<p class="f110 spa2"><b><span class="smcap">The Rt. Hon. Lord Kinnaird, K.T., to<br> +Thomas Graham, Esq., F.R.S., D.C.L.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Rossie Priory, Inchture, N.B., March 1st, 1869.</i></p> + +<p class="no-indent">“<span class="smcap">Sir</span>,</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p class="author">“Your obedient servant,<span class="ws4"> </span><br> +(Signed) “<span class="smcap">Kinnaird.</span></p> + +<p>“<span class="smcap">T. Graham, Esq.</span>, F.R.S., D.C.L.,<br> +“Master of the Royal Mint, London.”</p> +</div> + +<p class="spa2">Envelope marked “Private,”</p> + +<p class="f110"><b><span class="smcap">From T. Graham, Esq., F.R.S., D.C.L., to<br> +the Rt. Hon. Lord Kinnaird, K.T.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>4, Gordon Square, 3rd March, 1869.</i></p> + +<p class="no-indent">“<span class="smcap">My Lord</span>,</p> + +<p>“On returning from Scotland I find your letter of the 1st instant, +the receipt of which I beg to acknowledge.</p> + +<p class="author">“I beg to remain, my Lord,<span class="ws6"> </span><br> +“Your Lordship’s most obedient servant,<span class="ws4"> </span><br> +(Signed)<span class="ws2">“</span><span class="smcap">Tho. Graham.</span></p> + +<p>“<span class="smcap">The Right Hon. Lord Kinnaird.</span>”</p> + +<p class="spa2">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 <span class="smcap">has sent the +Memorial to Mr. Graham to answer</span>.” 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 <i>his</i> decision. Such an act is a +remarkable comment on the promise of the Government <i>that those who +would faithfully do their duty, irrespective of their nominal position, +should be rewarded</i>.</p> +</div> + +<p>This injustice induced your Lordship to take further steps, and you +sent me the following letter:— +<span class="pagenum" id="Page_194">[Pg 194]</span></p> + +<p class="f110 spa2"><b><span class="smcap">From the Right Hon. W. E. Gladstone<br> +to Hon. A. Kinnaird, M.P.</span></b></p> + +<div class="blockquot fs_90"> +<p class="author">“<i>March 5th, 1869.</i></p> + +<p>“<span class="smcap">My dear Kinnaird</span>,</p> + +<p>“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.</p> + +<p class="author">“Ever yours sincerely,<span class="ws4"> </span><br> +(Signed)<span class="ws2">“</span><span class="smcap">W. E. Gladstone.</span></p> + +<p>“<span class="smcap">The Hon. A. Kinnaird.</span>”</p> +</div> + +<p class="spa2">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:—</p> + +<p class="f110 spa2"><b><span class="smcap">From the Lords of the +Treasury to G. F. Ansell, Esq.</span></b></p> +<p class="center">(<i>No. 3727, 24th March</i>).<br> +“<i>Treasury Chambers, 27th March, 1869.</i></p> + +<div class="blockquot fs_90"> +<p class="no-indent">“<span class="smcap">Sir</span>,</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p class="author">“I am, Sir,<span class="ws6"> </span><br> +“Your obedient servant,<span class="ws4"> </span><br> +(Signed)<span class="ws2">“</span><span class="smcap">William Law</span>,”</p> +<p>George F. Ansell, Esq.,<br> +“27, Bernard Street, Russell Square, W.C.”<span class="ws8"> </span>“Exᵃᵈ.</p> +</div> + +<p class="spa2">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, <i>as he knew</i>, entirely in his keeping.</p> + +<p>“<i>9th March, 1858.</i></p> + +<p>“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.’”</p> + +<p><span class="pagenum" id="Page_195">[Pg 195]</span></p> + +<p>“<i>9th July, 1858.</i></p> + +<p>“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.’”</p> + +<p>“<i>September 2nd, 1857.</i></p> + +<p>“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 +<i>bona fide</i>, 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.’”</p> + +<p>“<i>October 5th, 1859.</i></p> + +<p>“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.’”</p> + +<p><i>22nd April, 1869.</i></p> + +<p>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.”</p> + +<p>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.</p> + +<p>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 +<span class="pagenum" id="Page_196">[Pg 196]</span> +your Lordship wrote to Mr. Lowe in relation to this interview with Mr. +Graham, and sent me Mr. Lowe’s reply.</p> + +<div class="blockquot fs_90"> +<p class="author">“<i>Downing Street, Whitehall, April 29th, 1869.</i></p> +<p class="no-indent">“<span class="smcap">Dear Lord Kinnaird</span>,</p> + +<p>“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.</p> + +<p class="author">“I am, my lord,<span class="ws6"> </span><br> +“Faithfully yours,<span class="ws4"> </span><br> +(Signed)<span class="ws2">“</span><span class="smcap">Robert Lowe.</span></p> +<p>“<span class="smcap">The Right Hon. Lord Kinnaird.</span>”</p> + +<p class="f110 spa2"><b><span class="smcap">The Right Hon. Lord Kinnaird, K.T.,<br> +to the Right Hon. Robert Lowe.</span></b></p> + +<p class="author">“<i>Rossie Priory, Inchture, N.B., May 4th, 1869.</i></p> + +<p class="no-indent">“<span class="smcap">Dear Mr. Lowe</span>,</p> + +<p>“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.</p> + +<p>“I then asked to see the answer, and was refused, though, at the +same time you <i>assured me</i> 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 +<i>does</i> and <i>does not</i> 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 <i>whose word +alone</i> 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.</p> + +<p class="author">“Yours faithfully,<span class="ws4"> </span><br> +(Signed)<span class="ws3">“</span><span class="smcap">Kinnaird.</span></p> + +<p>“<span class="smcap">The Right Hon. Robert Lowe</span>, Downing Street.”</p> + +<p class="f110 spa2"><b><span class="smcap">The Right Hon. Lord Kinnaird, K.T., to<br> +the Right Hon. W. E. Gladstone.</span></b></p> + +<p class="author">“<i>Rossie Priory, Inchture, N.B., May 4th, 1869.</i></p> + +<p class="no-indent">“<span class="smcap">Dear Mr. Gladstone</span>,</p> + +<p>“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 +<span class="pagenum" id="Page_197">[Pg 197]</span> +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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p>“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.</p> + +<p class="author">“Believe me,<span class="ws6"> </span><br> +“Yours faithfully,<span class="ws4"> </span><br> +(Signed)<span class="ws2">“</span><span class="smcap">Kinnaird.</span></p> + +<p>“<span class="smcap">The Right Hon. W. E. Gladstone.</span>”</p> +</div> + +<p class="spa2">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.</p> + +<p>“<span class="smcap">Lord Kinnaird</span>: 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 +<span class="pagenum" id="Page_198">[Pg 198]</span> +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:—</p> + +<div class="blockquot fs_90"> +<p class="author">‘<i>Royal Mint, September 28, 1868.</i></p> +<p class="no-indent">‘<span class="smcap">Dear Sir</span>,</p> + +<p>‘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.</p> + +<p class="author">‘I remain, faithfully yours,<span class="ws4"> </span><br> +‘<span class="smcap">Tho. Graham</span>.</p> + +<p>‘<span class="smcap">G. F. Ansell, Esq.</span>’</p> +</div> + +<p class="spa2">“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 <i>tried integrity</i>!’ 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:—</p> + +<p class="blockquot fs_90">‘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.’</p> + +<p class="spa2">“<span class="smcap">The Duke of Argyll</span>: Who signed that letter?</p> + +<p>“<span class="smcap">Lord Kinnaird</span>: 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.”</p> + +<p class="spb2">“Motion (by leave of the House) <i>withdrawn</i>.”—<br> +(<i>House of Lords, Monday 18th July, 1870.</i> Hansard’s Report) +<span class="pagenum" id="Page_199">[Pg 199]</span></p> + +<div class="blockquot fs_90"> +<p>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.</p> + +<p class="author">I have the honour to remain,<span class="ws6"> </span><br> +My Lord,<span class="ws4"> </span><br> +Most gratefully your Lordship’s obedient and obliged servant,<br> +GEORGE F. ANSELL.  </p> + +<p><span class="smcap">The Right Hon. Lord Kinnaird</span>, K.T., F.R.G.S.<br> +<span class="ws4">Lord-Lieutenant of Perthshire, &c., &c., &c.</span></p> +</div> + +<hr class="chap x-ebookmaker-drop"> +<div class="chapter"> +<p><span class="pagenum" id="Page_200">[Pg 200]</span></p> +<h2 class="nobreak">INDEX.</h2> +</div> + +<ul class="index"> +<li class="isub2">Accounts of the Royal Mint, <a href="#Page_14">14-15</a>, <a href="#Page_36">36</a>, <a href="#Page_83">83</a>, + <a href="#Page_84">84</a>, <a href="#Page_85">85</a>, <a href="#Page_94">94</a>, + <a href="#Page_102">102</a>, <a href="#Page_103">103</a>,</li> +<li class="isub6"><a href="#Page_104">104</a>, <a href="#Page_106">106</a>, <a href="#Page_107">107</a>, + <a href="#Page_115">115</a>, <a href="#Page_136">136</a>, <a href="#Page_142">142</a>, <a href="#Page_149">149</a>, + <a href="#Page_155">155</a>, <a href="#Page_173">173</a>.</li> +<li class="isub2">Acts of Parliament relating to the Coinage, <a href="#Page_3">3</a>, <a href="#Page_36">36</a>, <a href="#Page_56">56</a>, + <a href="#Page_71">71</a>, <a href="#Page_72">72</a>, <a href="#Page_73">73</a>,</li> +<li class="isub6"><a href="#Page_109">109</a>, <a href="#Page_124">124</a>, <a href="#Page_150">150</a>, + <a href="#Page_157">157</a>, <a href="#Page_159">159</a>, <a href="#Page_166">166</a>.</li> +<li class="isub2">Adjusting of Fillets, <a href="#Page_9">9</a>, <a href="#Page_19">19</a>, <a href="#Page_20">20</a>, <a href="#Page_22">22</a>, + <a href="#Page_23">23</a>, <a href="#Page_25">25</a>, <a href="#Page_27">27</a>, <a href="#Page_29">29</a>, + <a href="#Page_31">31</a>, <a href="#Page_32">32</a>, <a href="#Page_42">42</a>, <a href="#Page_112">112-113</a>.</li> +<li class="isub2">Alloy, Copper is used as, <a href="#Page_4">4</a>, <a href="#Page_6">6</a>, <a href="#Page_7">7</a>, <a href="#Page_8">8</a>, + <a href="#Page_13">13</a>, <a href="#Page_21">21</a>, + <a href="#Page_31">31</a>, <a href="#Page_46">46</a>, <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, + <a href="#Page_53">53-56</a>, <a href="#Page_58">58</a>,</li> +<li class="isub6"><a href="#Page_82">82</a>, <a href="#Page_86">86</a>, <a href="#Page_87">87</a>, <a href="#Page_138">138</a>,<a href="#Page_141">141</a>, <a href="#Page_142">142</a>, + <a href="#Page_143">143</a>, <a href="#Page_157">157-159</a>.</li> +<li class="isub3">” Extra, <a href="#Page_49">49</a>, <a href="#Page_136">136</a>, <a href="#Page_137">137</a>, + <a href="#Page_138">138</a>, <a href="#Page_141">141</a>.</li> +<li class="isub3">” Impurities contained in, <a href="#Page_6">6</a>, <a href="#Page_13">13-14</a>, <a href="#Page_81">81</a>.</li> +<li class="isub3">” The best, for Coinage purposes, <a href="#Page_49">49</a>, <a href="#Page_81">81</a>, <a href="#Page_157">157</a>, <a href="#Page_158">158</a>.</li> +<li class="isub3">”   ” Coining Dies, <a href="#Page_81">81</a>, <a href="#Page_157">157</a>.</li> +<li class="isub2">Analysis of Bullion, Advantages attending, <a href="#Page_13">13-14</a>, <a href="#Page_81">81</a>, <a href="#Page_157">157-158</a>.</li> +<li class="isub2">Annealing and Blanching, Debases Standard of Coinage,</li> +<li class="isub10"><a href="#Page_31">31</a>, <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, + <a href="#Page_50">50</a>, <a href="#Page_53">53-56</a>, <a href="#Page_57">57</a>, <a href="#Page_58">58</a>.</li> +<li class="isub4"> ”   Furnace, <a href="#Page_21">21</a>, <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, + <a href="#Page_57">57</a>, <a href="#Page_62">62</a>, <a href="#Page_74">74</a>.</li> +<li class="isub4"> ”   Loss occasioned by, <a href="#Page_9">9</a>, <a href="#Page_21">21</a>, <a href="#Page_22">22</a>, + <a href="#Page_31">31</a>, <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, <a href="#Page_53">53-56</a>, <a href="#Page_57">57</a>,</li> +<li class="isub10"><a href="#Page_86">86</a>, <a href="#Page_92">92</a>, <a href="#Page_138">138</a>, <a href="#Page_161">161</a>, <a href="#Page_162">162</a>.</li> +<li class="isub2">Ansell, George F., Diary of, <a href="#Page_194">194-195</a>.</li> +<li class="isub3"> ”   Fire-damp Indicator, <a href="#Page_182">182-183</a>, + <a href="#Page_187">187</a>, <a href="#Page_193">193</a>, <a href="#Page_198">198</a>.</li> +<li class="isub2">Ansell’s Standard Gauge, <a href="#Page_23">23-25</a>, <a href="#Page_35">35</a>.</li> +<li class="isub2">Antimony in Standard Gold attacks Iron, <a href="#Page_19">19</a>.</li> +<li class="isub2">Argyll, Duke of, <a href="#Page_ix">ix</a>., <a href="#Page_166">166</a>, <a href="#Page_171">171</a>, <a href="#Page_198">198</a>.</li> +<li class="isub2">Artists as regards Dies for Coining, <a href="#Page_64">64</a>, <a href="#Page_67">67</a>, <a href="#Page_158">158</a>, <a href="#Page_168">168</a>.</li> +<li class="isub2">Arts, Journal of the Society of, <a href="#Page_66">66</a>.</li> +<li class="isub2">Assay Pieces taken, <a href="#Page_4">4</a>, <a href="#Page_7">7</a>, <a href="#Page_9">9</a>, + <a href="#Page_10">10</a>, <a href="#Page_53">53-56</a>.</li> +<li class="isub3">”   ”   Weight of, <a href="#Page_10">10</a>, <a href="#Page_56">56</a>.</li> +<li class="isub3">”   Proofs, <a href="#Page_12">12</a>, <a href="#Page_13">13</a>.</li> +<li class="isub3">”   Reports, preservation of, <a href="#Page_14">14</a>, <a href="#Page_54">54</a>, <a href="#Page_146">146</a>.</li> +<li class="isub3">”   Unreported Fractions, <a href="#Page_127">127</a>, <a href="#Page_130">130</a>, <a href="#Page_142">142</a>, <a href="#Page_143">143</a>.</li> +<li class="isub2">Assayers, Two Resident, suggested, <a href="#Page_14">14</a>, <a href="#Page_81">81</a>.</li> +<li class="isub2">Assaying Apparatus, Messrs Matthey, Johnson, and Co.’s, <a href="#Page_12">12-13</a>.</li> +<li class="isub3"> ”   Cost of, <a href="#Page_3">3</a>, <a href="#Page_13">13</a>, <a href="#Page_120">120-121</a>, <a href="#Page_122">122</a>, <a href="#Page_149">149</a>.</li> +<li class="isub3"> ”   Explanation of Process of, <a href="#Page_10">10-14</a>, <a href="#Page_56">56</a>.</li> +<li class="isub3"> ”   Loss by, <a href="#Page_53">53</a>, <a href="#Page_56">56</a>, <a href="#Page_102">102</a>, <a href="#Page_103">103</a>, <a href="#Page_149">149</a>.</li> +<li class="isub2">Ayrton, Right Hon. A. S., <a href="#Page_148">148</a>, <a href="#Page_152">152</a>, <a href="#Page_154">154</a>, <a href="#Page_165">165</a>.</li> + +<li class="isub2 ifrst">Balance, Cotton’s Automaton, described, <a href="#Page_16">16</a>, <a href="#Page_37">37-42</a>, + <a href="#Page_48">48</a>, <a href="#Page_124">124</a>.</li> +<li class="isub3"> ”   ”   Bradshaw’s Improvements in, <a href="#Page_40">40-42</a>.</li> +<li class="isub3"> ”    ”   Pilcher’s Improvements in, <a href="#Page_37">37</a>, <a href="#Page_39">39</a>, + <a href="#Page_40">40</a>, <a href="#Page_41">41</a>, <a href="#Page_42">42</a>.</li> +<li class="isub3"> ”   Napier’s, for Mint Office, <a href="#Page_15">15</a>, <a href="#Page_16">16</a>.</li> +<li class="isub3"> ”   Short’s Improved, for Bullion, described, <a href="#Page_16">16-18</a>.</li> +<li class="isub3"> ”    Testing the Accuracy of a, <a href="#Page_16">16</a>.</li> +<li class="isub2">Bank of England, <a href="#Page_v">v.</a>, <a href="#Page_3">3</a>, <a href="#Page_36">36</a>, <a href="#Page_37">37</a>, <a href="#Page_51">51</a>, + <a href="#Page_54">54</a>, <a href="#Page_55">55</a>, <a href="#Page_64">64</a>, <a href="#Page_65">65</a>, + <a href="#Page_66">66</a>, <a href="#Page_70">70</a>, <a href="#Page_71">71</a>, <a href="#Page_101">101</a>,</li> +<li class="isub10"><a href="#Page_102">102</a>, <a href="#Page_103">103</a>, <a href="#Page_109">109</a>, <a href="#Page_110">110</a>, + <a href="#Page_122">122</a>, <a href="#Page_123">123</a>, <a href="#Page_126">126</a>, <a href="#Page_150">150</a>, + <a href="#Page_155">155</a>, <a href="#Page_156">156</a>, <a href="#Page_176">176</a>, <a href="#Page_185">185</a>.</li> +<li class="isub3">” ”  ” Imports Gold for Coining and makes profit thereby,</li> +<li class="isub10"><a href="#Page_v">v.</a>, <a href="#Page_3">3</a>, <a href="#Page_4">4</a>, <a href="#Page_126">126-127</a>, <a href="#Page_170">170</a>.</li> +<li class="isub2">Bars, by Assay below standard fineness, <a href="#Page_49">49</a>, <a href="#Page_53">53-56</a>, <a href="#Page_168">168</a>.</li> +<li class="isub2"> ”  Ends sheared from, <a href="#Page_20">20</a>, <a href="#Page_92">92</a>, <a href="#Page_112">112</a>, + <a href="#Page_113">113</a>, <a href="#Page_116">116</a>, + <a href="#Page_136">136</a>, <a href="#Page_160">160</a>, <a href="#Page_161">161</a>.</li> +<li class="isub2"> ”   Proportion of Coined Money obtained from, <a href="#Page_84">84</a>, <a href="#Page_92">92</a>, <a href="#Page_111">111</a>, + <a href="#Page_112">112</a>, + <a href="#Page_113">113</a>, <a href="#Page_114">114</a>, <a href="#Page_115">115</a>, <a href="#Page_117">117</a>, + <a href="#Page_160">160</a>, <a href="#Page_161">161</a>.</li> +<li class="isub2"> ”  Rolling of, <a href="#Page_18">18-25</a>.</li> +<li class="isub2"> ”  Used for Coining, Dimensions of, <a href="#Page_9">9</a>, <a href="#Page_31">31</a>, <a href="#Page_74">74</a>, <a href="#Page_75">75</a>.</li> +<li class="isub2"> ”    ”  ” Uniformity of, desirable, <a href="#Page_9">9</a>, <a href="#Page_31">31</a>, <a href="#Page_49">49</a>, <a href="#Page_53">53</a>.</li> +<li class="isub2">Barton, Sir John, <a href="#Page_29">29</a>, <a href="#Page_31">31</a>, <a href="#Page_32">32</a>.</li> +<li class="isub2">Barton’s Draw-Bench, <a href="#Page_27">27-33</a>.</li> +<li class="isub2">Barton, Mr. W. H., xvi., <a href="#Page_29">29</a>, <a href="#Page_30">30</a>, <a href="#Page_56">56</a>, + <a href="#Page_63">63</a>, <a href="#Page_86">86-87</a>, <a href="#Page_106">106</a>, <a href="#Page_172">172</a>,</li> +<li class="isub10"><a href="#Page_175">175</a>, <a href="#Page_182">182</a>, <a href="#Page_183">183</a>, <a href="#Page_184">184</a>, <a href="#Page_191">191</a>.</li> +<li class="isub2">Becker, Mr. C., <a href="#Page_25">25</a>.</li> +<li class="isub2">Blanching and Annealing Blanks debases Gold Coinage, <a href="#Page_31">31</a>, <a href="#Page_48">48</a>, + <a href="#Page_49">49</a>, <a href="#Page_50">50</a>, <a href="#Page_53">53-56</a>, <a href="#Page_57">57</a>, <a href="#Page_58">58</a>.</li> +<li class="isub2">Blanching, Effects of, <a href="#Page_2">2</a>, <a href="#Page_48">48-49</a>, <a href="#Page_53">53-56-57</a>, <a href="#Page_58">58</a>, + <a href="#Page_74">74</a>, <a href="#Page_75">75</a>, <a href="#Page_86">86</a>, <a href="#Page_92">92</a>, + <a href="#Page_138">138</a>, <a href="#Page_143">143</a>, <a href="#Page_161">161</a>.</li> +<li class="isub2">Blanks, Annealing and Blanching, debases standard of Coinage, <a href="#Page_31">31</a>, <a href="#Page_48">48</a>, + <a href="#Page_49">49</a>, <a href="#Page_50">50</a>, <a href="#Page_51">51</a>, <a href="#Page_53">53-56</a>, + <a href="#Page_57">57</a>, <a href="#Page_58">58</a>.</li> +<li class="isub3">”  Drying of, by sawdust, <a href="#Page_57">57-58</a>.</li> +<li class="isub3">”  Dumb, <a href="#Page_46">46</a>, <a href="#Page_61">61-62</a>.</li> +<li class="isub3">”  Examination of, <a href="#Page_35">35</a>, <a href="#Page_41">41</a>, <a href="#Page_42">42</a>, + <a href="#Page_46">46</a>, <a href="#Page_50">50</a>, <a href="#Page_61">61</a>, <a href="#Page_70">70</a>.</li> +<li class="isub3">”  Filing the heavy, <a href="#Page_42">42-46</a>.</li> +<li class="isub3">”  Weighing of Individual, <a href="#Page_23">23</a>, <a href="#Page_31">31</a>, <a href="#Page_35">35-36</a>, + <a href="#Page_37">37-42</a>, <a href="#Page_43">43</a>, <a href="#Page_108">108-110</a>.</li> +<li class="isub3">”  Weighing of Gold, <a href="#Page_37">37</a>, <a href="#Page_42">42-44</a>, <a href="#Page_46">46</a>.</li> +<li class="isub2">Boulton, Mr. Matthew, <a href="#Page_61">61</a>, <a href="#Page_69">69</a>, <a href="#Page_169">169</a>.</li> +<li class="isub2">Boulton’s Coining Press described, <a href="#Page_59">59-61</a>, <a href="#Page_68">68</a>, + <a href="#Page_69">69</a>, <a href="#Page_80">80</a>, <a href="#Page_169">169</a>.</li> +<li class="isub2">Bradshaw, Mr. William, <a href="#Page_40">40</a>, <a href="#Page_41">41</a>.</li> +<li class="isub2">Brande, Mr. W. T., <a href="#Page_xv">xv.</a>, <a href="#Page_83">83</a>, <a href="#Page_120">120</a>, <a href="#Page_172">172</a>, <a href="#Page_176">176</a>, <a href="#Page_182">182</a>, <a href="#Page_195">195</a>.</li> +<li class="isub2">Britt.—Brit., <a href="#Page_75">75-76</a>.</li> +<li class="isub2">Brittle Gold, Coining of, <a href="#Page_v">v.</a>, <a href="#Page_6">6</a>, <a href="#Page_49">49-53</a>, <a href="#Page_98">98</a>, <a href="#Page_112">112</a>, <a href="#Page_176">176</a>, + <a href="#Page_180">180</a>, <a href="#Page_181">181</a>, <a href="#Page_185">185</a>, <a href="#Page_190">190</a>.</li> +<li class="isub4">”  ” Coins from, Distinctively Marked, <a href="#Page_50">50</a>.</li> +<li class="isub2">Brockages Imperfect Coins, <a href="#Page_68">68-69</a>, <a href="#Page_70">70</a>, <a href="#Page_92">92</a>, <a href="#Page_161">161</a>.</li> +<li class="isub2">Bronze Coinage, <a href="#Page_9">9</a>, <a href="#Page_33">33</a>, <a href="#Page_64">64</a>, <a href="#Page_68">68</a>, + <a href="#Page_73">73</a>, <a href="#Page_74">74-76</a>, <a href="#Page_93">93</a>, <a href="#Page_94">94</a>, <a href="#Page_118">118</a>, <a href="#Page_121">121</a>, + <a href="#Page_129">129</a>, <a href="#Page_147">147</a>, <a href="#Page_162">162-165</a>.</li> +<li class="isub3"> ”<span class="ws3">”</span>  Loss of Profit on, <a href="#Page_129">129</a>, <a href="#Page_147">147</a>, + <a href="#Page_162">162-165</a>.</li> +<li class="isub3"> ”<span class="ws3">”</span>  Weight and Value of, <a href="#Page_163">163</a>, <a href="#Page_164">164</a>, <a href="#Page_165">165</a>.</li> +<li class="isub2">Bullion, Analysis of, <a href="#Page_13">13-14</a>, <a href="#Page_81">81</a>, <a href="#Page_157">157-158</a>.</li> +<li class="isub4">”  necessity for Analyses of, <a href="#Page_13">13-14</a>, <a href="#Page_81">81</a>.</li> +<li class="isub2">Bumping, Prevention of, <a href="#Page_12">12</a>.</li> + +<li class="isub2 ifrst">Chancellor of the Exchequer, as regards the Coinage, <a href="#Page_3">3</a>, <a href="#Page_104">104</a>, <a href="#Page_120">120-121</a>, + <a href="#Page_122">122-123-125</a>,</li> +<li class="isub6"><a href="#Page_126">126</a>, <a href="#Page_127">127</a>, <a href="#Page_145">145</a>, + <a href="#Page_146">146</a>, <a href="#Page_150">150-151</a>, <a href="#Page_163">163</a>, <a href="#Page_164">164</a>, + <a href="#Page_170">170</a>, <a href="#Page_188">188</a>, <a href="#Page_193">193</a>, <a href="#Page_196">196</a>.</li> +<li class="isub2">Charcoal, its use when Melting Gold and Silver, <a href="#Page_6">6</a>, <a href="#Page_8">8</a>, <a href="#Page_138">138-139</a>.</li> +<li class="isub2">Chimney Chambers to <i>Condense</i> volatilized</li> +<li class="isub6">Gold and Silver, <a href="#Page_83">83</a>, <a href="#Page_88">88</a>, <a href="#Page_103">103</a>, <a href="#Page_104">104-105</a>, <a href="#Page_128">128</a>, + <a href="#Page_145">145</a>, <a href="#Page_147">147</a>, <a href="#Page_162">162</a>, <a href="#Page_166">166-167</a>.</li> +<li class="isub2">Clipping Coins (the edges of), <a href="#Page_59">59</a>, <a href="#Page_62">62</a>, <a href="#Page_64">64</a>, + <a href="#Page_125">125</a>, <a href="#Page_141">141</a>.</li> +<li class="isub2">Coinage, Integrity and Accuracy of the, <a href="#Page_14">14</a>, <a href="#Page_42">42-44</a>, + <a href="#Page_53">53-56</a>, <a href="#Page_70">70</a>, <a href="#Page_71">71-72</a>, + <a href="#Page_123">123-126</a>, <a href="#Page_127">127</a>, <a href="#Page_157">157-159</a>.</li> +<li class="isub2">Coinage, a Free, <a href="#Page_3">3</a>, <a href="#Page_169">169</a>.</li> +<li class="isub3"> ”  Debasement of the, <a href="#Page_31">31</a>, <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, <a href="#Page_50">50</a>,</li> +<li class="isub6"><a href="#Page_53">53-56</a>, <a href="#Page_57">57</a>, <a href="#Page_58">58</a>, + <a href="#Page_120">120-121</a>, <a href="#Page_122">122-123</a>, <a href="#Page_157">157-159</a>.</li> +<li class="isub3"> ”  Debates on the, <a href="#Page_52">52</a>, <a href="#Page_72">72</a>, <a href="#Page_105">105</a>, + <a href="#Page_106">106</a>, <a href="#Page_146">146-148</a>, <a href="#Page_149">149</a>.</li> +<li class="isub3"> ”  International, Commission on, <a href="#Page_36">36</a>, <a href="#Page_117">117</a>, <a href="#Page_120">120</a>.</li> +<li class="isub2">Coined Money, Annealing of, <a href="#Page_50">50</a>, <a href="#Page_51">51</a>, <a href="#Page_52">52</a>.</li> +<li class="isub3"> ”<span class="ws3">”</span>  Rate per cent. obtained from Bars, <a href="#Page_20">20</a>, <a href="#Page_30">30</a>, <a href="#Page_44">44</a>, <a href="#Page_84">84</a>,</li> +<li class="isub12"><a href="#Page_89">89</a>, <a href="#Page_92">92</a>, <a href="#Page_107">107-115</a>, <a href="#Page_117">117</a>, <a href="#Page_140">140</a>, + <a href="#Page_161">161</a>, <a href="#Page_176">176</a>, <a href="#Page_179">179</a>.</li> +<li class="isub3"> ”<span class="ws3">”</span>  Weight and Value of Bronze, <a href="#Page_68">68</a>, <a href="#Page_73">73</a>, + <a href="#Page_162">162-163</a>, <a href="#Page_165">165</a>.</li> +<li class="isub3"> ”<span class="ws3">”</span>  Weight and Value of Gold, <a href="#Page_3">3</a>, <a href="#Page_36">36</a>, <a href="#Page_56">56</a>, <a href="#Page_68">68</a>, <a href="#Page_70">70</a>, + <a href="#Page_73">73</a>, <a href="#Page_90">90</a>, <a href="#Page_91">91</a>, <a href="#Page_92">92</a>,</li> +<li class="isub10"><a href="#Page_96">96</a>, <a href="#Page_97">97</a>, <a href="#Page_111">111</a>, <a href="#Page_112">112</a>, <a href="#Page_114">114</a>, + <a href="#Page_117">117</a>, <a href="#Page_119">119</a>, <a href="#Page_121">121</a>, <a href="#Page_123">123</a>, <a href="#Page_124">124</a>.</li> +<li class="isub3"> ”<span class="ws3">”</span>  Weight and Value of Silver, <a href="#Page_3">3</a>, <a href="#Page_56">56</a>, <a href="#Page_65">65</a>, <a href="#Page_68">68</a>, + <a href="#Page_71">71</a>, <a href="#Page_73">73</a>, <a href="#Page_132">132</a>, <a href="#Page_133">133</a>,</li> +<li class="isub10"><a href="#Page_134">134</a>, <a href="#Page_135">135</a>, <a href="#Page_146">146</a>, <a href="#Page_147">147</a>, + <a href="#Page_149">149</a>, <a href="#Page_150">150</a>, <a href="#Page_154">154</a>, <a href="#Page_155">155</a>, + <a href="#Page_156">156</a>, <a href="#Page_161">161</a>.</li> +<li class="isub2">Coining, Article on, <a href="#Page_viii">vii.</a>, <a href="#Page_4">4</a>, <a href="#Page_71">71</a>.</li> +<li class="isub4">”  by Contract, <a href="#Page_v">v.</a>, <a href="#Page_127">127</a>, <a href="#Page_128">128</a>.</li> +<li class="isub4">”  Cost of, <a href="#Page_42">42</a>, <a href="#Page_43">43</a>, <a href="#Page_44">44</a>, <a href="#Page_51">51</a>, <a href="#Page_70">70</a>, + <a href="#Page_92">92</a>, <a href="#Page_115">115</a>, <a href="#Page_117">117</a>, + <a href="#Page_118">118-120</a>, <a href="#Page_121">121-123</a>,</li> +<li class="isub10"><a href="#Page_130">130</a>, <a href="#Page_141">141</a>, <a href="#Page_149">149-150</a>, + <a href="#Page_155">155</a>, <a href="#Page_161">161</a>.</li> +<li class="isub4">”  Early Methods of, <a href="#Page_1">1-2</a>.</li> +<li class="isub4">”  Gold, Gain in weight by, <a href="#Page_86">86</a>, <a href="#Page_87">87</a>, <a href="#Page_88">88</a>, <a href="#Page_89">89</a>, <a href="#Page_90">90</a>, + <a href="#Page_91">91</a>, <a href="#Page_92">92</a>, <a href="#Page_93">93</a>, <a href="#Page_94">94</a>, <a href="#Page_95">95</a>, + <a href="#Page_98">98</a>, <a href="#Page_99">99</a>, <a href="#Page_100">100</a>,</li> +<li class="isub10"><a href="#Page_101">101-104</a>, <a href="#Page_145">145</a>, <a href="#Page_168">168</a>, <a href="#Page_169">169</a>, + <a href="#Page_173">173</a>, <a href="#Page_175">175</a>, <a href="#Page_178">178</a>, <a href="#Page_184">184</a>, + <a href="#Page_189">189</a>, <a href="#Page_190">190</a>.</li> +<li class="isub4">”  Gold, Loss of Weight by, <a href="#Page_9">9</a>, <a href="#Page_16">16</a>, <a href="#Page_21">21</a>, <a href="#Page_22">22</a>, <a href="#Page_31">31</a>, <a href="#Page_49">49</a>, + <a href="#Page_51">51</a>, <a href="#Page_53">53</a>, <a href="#Page_56">56-57</a>, <a href="#Page_82">82-83</a>, <a href="#Page_84">84-86</a>,</li> +<li class="isub10"><a href="#Page_87">87-88</a>, <a href="#Page_89">89</a>, <a href="#Page_90">90</a>, <a href="#Page_91">91</a>, + <a href="#Page_92">92</a>, <a href="#Page_94">94</a>, <a href="#Page_95">95</a>, <a href="#Page_98">98</a>, + <a href="#Page_99">99-104</a>, <a href="#Page_117">117</a>, + <a href="#Page_119">119-120</a>, <a href="#Page_122">122</a>, <a href="#Page_125">125</a>,</li> +<li class="isub10"><a href="#Page_126">126</a>, <a href="#Page_129">129</a>, <a href="#Page_145">145</a>, <a href="#Page_173">173</a>, + <a href="#Page_174">174</a>, <a href="#Page_175">175</a>, <a href="#Page_176">176</a>, <a href="#Page_177">177-179</a>, + <a href="#Page_180">180</a>, <a href="#Page_184">184-189</a>, <a href="#Page_190">190</a>.</li> +<li class="isub4">”  Press, Description of Boulton’s, <a href="#Page_58">58-61</a>, <a href="#Page_68">68</a>, <a href="#Page_69">69</a>, + <a href="#Page_80">80</a>, <a href="#Page_169">169</a>.</li> +<li class="isub4">”  Press requires improvements, <a href="#Page_58">58</a>, <a href="#Page_61">61</a>, <a href="#Page_69">69-70</a>, <a href="#Page_169">169</a>.</li> +<li class="isub4">”  Proposal to fix the rate of Cost of, <a href="#Page_115">115-123</a>.</li> +<li class="isub4">”  Royal Prerogative, <a href="#Page_149">149</a>, <a href="#Page_150">150</a>, <a href="#Page_166">166</a>.</li> +<li class="isub4">”  Silver, Gain in Weight by, <a href="#Page_iv">iv.</a>, <a href="#Page_3">3</a>, <a href="#Page_95">95</a>, <a href="#Page_130">130</a>, <a href="#Page_131">131</a>, + <a href="#Page_146">146-148</a>, <a href="#Page_151">151</a>, <a href="#Page_160">160</a>.</li> +<li class="isub4">”<span class="ws3">”</span>  ”  Loss of Weight by, <a href="#Page_v">v.</a>, <a href="#Page_16">16</a>, <a href="#Page_21">21</a>, <a href="#Page_22">22</a>, + <a href="#Page_74">74</a>, <a href="#Page_82">82</a>, <a href="#Page_95">95</a>, + <a href="#Page_105">105</a>, <a href="#Page_106">106</a>,</li> +<li class="isub10"><a href="#Page_126">126</a>, <a href="#Page_130">130</a>, <a href="#Page_131">131-134</a>, + <a href="#Page_139">139-140</a>, <a href="#Page_141">141</a>, <a href="#Page_142">142</a>, <a href="#Page_143">143</a>, + <a href="#Page_145">145-148</a>, <a href="#Page_149">149</a>, <a href="#Page_151">151</a>,</li> +<li class="isub10"><a href="#Page_155">155</a>, <a href="#Page_161">161</a>, <a href="#Page_162">162</a>, + <a href="#Page_175">175</a>, <a href="#Page_184">184</a>, <a href="#Page_189">189</a>.</li> +<li class="isub2">Coins, Amount of Legal Tender in, <a href="#Page_68">68</a>, <a href="#Page_76">76</a>, <a href="#Page_151">151</a>, <a href="#Page_162">162</a>, <a href="#Page_166">166</a>.</li> +<li class="isub3">”  Cause of Cracked, <a href="#Page_46">46</a>, <a href="#Page_61">61-62</a>.</li> +<li class="isub3">”  Diameter of, <a href="#Page_63">63</a>, <a href="#Page_68">68</a>.</li> +<li class="isub3">”  Edges of Crenated, Milled, Grained, <a href="#Page_2">2</a>, <a href="#Page_48">48</a>, <a href="#Page_59">59</a>, + <a href="#Page_61">61-62</a>, <a href="#Page_64">64</a>, <a href="#Page_80">80</a>.</li> +<li class="isub3">”<span class="ws3">”</span>  Lettered, <a href="#Page_2">2</a>, <a href="#Page_62">62-63</a>.</li> +<li class="isub3">”  Examination for Imperfect, <a href="#Page_46">46</a>, <a href="#Page_62">62</a>, <a href="#Page_70">70</a>.</li> +<li class="isub3">”  Imperfect, Brockages, <a href="#Page_68">68</a>, <a href="#Page_69">69</a>, <a href="#Page_70">70</a>, + <a href="#Page_92">92</a>, <a href="#Page_161">161</a>.</li> +<li class="isub3">”  Incused, how produced, <a href="#Page_69">69</a>.</li> +<li class="isub3">”  Pounding of, <a href="#Page_35">35</a>, <a href="#Page_49">49</a>, <a href="#Page_53">53</a>, <a href="#Page_71">71-72</a>, + <a href="#Page_73">73</a>, <a href="#Page_125">125</a>, <a href="#Page_167">167</a>.</li> +<li class="isub3">”  Protecting Edge is necessary to, <a href="#Page_2">2</a>, <a href="#Page_46">46</a>, <a href="#Page_48">48</a>, <a href="#Page_62">62</a>, + <a href="#Page_64">64</a>, <a href="#Page_67">67</a>, <a href="#Page_158">158</a>, <a href="#Page_159">159</a>.</li> +<li class="isub3">”  Ringing of, <a href="#Page_46">46</a>, <a href="#Page_62">62</a>, <a href="#Page_70">70</a>.</li> +<li class="isub3">”  Sweating of, <a href="#Page_59">59</a>, <a href="#Page_125">125</a>, <a href="#Page_141">141</a>.</li> +<li class="isub3">”  Weighing of, after Coining, <a href="#Page_39">39</a>, <a href="#Page_43">43</a>, <a href="#Page_45">45</a>, + <a href="#Page_70">70</a>, <a href="#Page_108">108-110</a>.</li> +<li class="isub3">”  Weight of Current and New, <a href="#Page_36">36</a>, <a href="#Page_39">39</a>, <a href="#Page_66">66</a>, <a href="#Page_68">68</a>, + <a href="#Page_70">70</a>, <a href="#Page_71">71</a>, <a href="#Page_72">72</a>, <a href="#Page_73">73</a>, + <a href="#Page_123">123</a>, <a href="#Page_124">124</a>, <a href="#Page_167">167</a>.</li> +<li class="isub2">Collar for Coining Milled, Lettered, <a href="#Page_48">48</a>, <a href="#Page_59">59</a>, <a href="#Page_60">60</a>, + <a href="#Page_61">61-62</a>, <a href="#Page_63">63</a>, <a href="#Page_64">64</a>, <a href="#Page_67">67-68</a>.</li> +<li class="isub2">Comber, Mr. P. F., <a href="#Page_74">74</a>.</li> +<li class="isub2">Copper Moneys, <a href="#Page_68">68</a>, <a href="#Page_76">76</a>, <a href="#Page_157">157</a>, <a href="#Page_162">162</a>, <a href="#Page_164">164</a>.</li> +<li class="isub2">Copper on Gold, Influence of Oxide of, <a href="#Page_6">6</a>, <a href="#Page_49">49</a>.</li> +<li class="isub4">” is used as an Alloy, <a href="#Page_4">4</a>, <a href="#Page_6">6</a>, <a href="#Page_7">7-8</a>, <a href="#Page_21">21</a>, <a href="#Page_46">46</a>, + <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, <a href="#Page_138">138</a>.</li> +<li class="isub2">Corcoran, Mr. Bryan, <a href="#Page_195">195</a>.</li> +<li class="isub2">Corry, Mr. Montagu, <a href="#Page_186">186</a>.</li> +<li class="isub2">Cotton, Mr. William, <a href="#Page_16">16</a>, <a href="#Page_37">37</a>, <a href="#Page_39">39</a>, <a href="#Page_41">41</a>, + <a href="#Page_42">42</a>, <a href="#Page_124">124</a>.</li> +<li class="isub2">Cotton’s Automaton Balance, <a href="#Page_16">16</a>, <a href="#Page_37">37-42</a>, + <a href="#Page_48">48</a>, <a href="#Page_124">124</a>.</li> +<li class="isub2">Crenated or Milled Edge on Coined Money, <a href="#Page_2">2</a>, <a href="#Page_48">48</a>, <a href="#Page_59">59</a>, + <a href="#Page_61">61-62</a>, <a href="#Page_64">64</a>, <a href="#Page_80">80</a>.</li> +<li class="isub2">Cutting-out Press described, <a href="#Page_2">2</a>, <a href="#Page_33">33-35</a>, <a href="#Page_169">169</a>.</li> + +<li class="isub2 ifrst">Dies for Coining, <a href="#Page_1">1</a>, <a href="#Page_50">50</a>, <a href="#Page_57">57</a>, <a href="#Page_59">59</a>, + <a href="#Page_60">60</a>, <a href="#Page_64">64</a>, <a href="#Page_68">68</a>, <a href="#Page_76">76-81</a>, + <a href="#Page_157">157</a>, <a href="#Page_158">158</a>, <a href="#Page_167">167</a>.</li> +<li class="isub2">Differences in Weighing Bullion, <a href="#Page_14">14-16</a>, <a href="#Page_89">89</a>, <a href="#Page_92">92</a>, + <a href="#Page_104">104</a>, <a href="#Page_127">127</a>, <a href="#Page_137">137</a>,</li> +<li class="isub10"><a href="#Page_138">138</a>, <a href="#Page_143">143</a>, <a href="#Page_160">160-161</a>, + <a href="#Page_176">176</a>, <a href="#Page_184">184</a>.</li> +<li class="isub2">Difficulties in introducing Improvements, <a href="#Page_9">9</a>, <a href="#Page_15">15</a>, <a href="#Page_40">40</a>, <a href="#Page_44">44</a>, + <a href="#Page_46">46</a>, <a href="#Page_51">51</a>.</li> +<li class="isub2">Disraeli, Right Hon. B., <a href="#Page_183">183-186-187</a>, <a href="#Page_191">191</a>.</li> +<li class="isub2">Draw-bench, Description of the, <a href="#Page_27">27-33</a>.</li> +<li class="isub4">”<span class="ws5">”</span><span class="ws3">Opposition</span> to use of, + <a href="#Page_29">29-30</a>, <a href="#Page_31">31-32</a>.</li> +<li class="isub4">”<span class="ws5">”</span><span class="ws3">Proper</span> mode of using, <a href="#Page_32">32-33</a>.</li> + +<li class="isub2 ifrst">Edge-Compressor, <a href="#Page_46">46-48</a>.</li> +<li class="isub2">Edge, Protecting, to Coins, necessity for, <a href="#Page_2">2</a>, <a href="#Page_46">46</a>, <a href="#Page_48">48</a>, <a href="#Page_62">62</a>, + <a href="#Page_64">64</a>, <a href="#Page_67">67</a>, <a href="#Page_158">158</a>, <a href="#Page_159">159</a>.</li> +<li class="isub2">Edinburgh, H.R.H. the Duke of, <a href="#Page_183">183</a>.</li> +<li class="isub2">Ends sheared from Bars, <a href="#Page_20">20</a>, <a href="#Page_92">92</a>, <a href="#Page_112">112</a>, <a href="#Page_113">113</a>, <a href="#Page_116">116</a>, + <a href="#Page_136">136</a>, <a href="#Page_160">160</a>, <a href="#Page_161">161</a>.</li> +<li class="isub2">Engravings, Initial Letters to Illustrate, <a href="#Page_5">5</a>.</li> +<li class="isub2">European Mints, Reports upon, <a href="#Page_9">9</a>, <a href="#Page_30">30</a>, <a href="#Page_34">34</a>, <a href="#Page_42">42</a>, <a href="#Page_44">44</a>, <a href="#Page_55">55</a>, + <a href="#Page_61">61</a>, <a href="#Page_74">74</a>, <a href="#Page_83">83</a>, <a href="#Page_99">99-100</a>,</li> +<li class="isub12"><a href="#Page_105">105</a>, <a href="#Page_106">106</a>, <a href="#Page_125">125</a>, + <a href="#Page_147">147</a>, <a href="#Page_148">148</a>, <a href="#Page_168">168</a>.</li> +<li class="isub2">Evelyn, John, <a href="#Page_62">62</a>.</li> +<li class="isub2">Exchequer, Chancellor of the,</li> +<li class="isub7">as regards the Coinage, <a href="#Page_3">3</a>, <a href="#Page_104">104</a>, <a href="#Page_120">120-121</a>, + <a href="#Page_122">122-125</a>, <a href="#Page_126">126</a>, <a href="#Page_127">127</a>, + <a href="#Page_145">145</a>, <a href="#Page_146">146</a>,</li> +<li class="isub10"><a href="#Page_150">150-151</a>, <a href="#Page_163">163</a>, <a href="#Page_164">164</a>, + <a href="#Page_170">170</a>, <a href="#Page_188">188</a>, <a href="#Page_193">193</a>, <a href="#Page_196">196</a>.</li> + +<li class="isub2 ifrst">Fairbairn, Mr. W., <a href="#Page_xvi">xvi.</a>, <a href="#Page_172">172</a>.</li> +<li class="isub2">Fenton, Mr. William, <a href="#Page_33">33</a>.</li> +<li class="isub2">File, Pilcher’s, for reducing Heavy Blanks, <a href="#Page_42">42-46</a>, <a href="#Page_176">176</a>, <a href="#Page_179">179</a>, <a href="#Page_180">180</a>.</li> +<li class="isub2">Fillets, Adjusting of, <a href="#Page_9">9</a>, <a href="#Page_19">19</a>, <a href="#Page_20">20</a>, <a href="#Page_22">22</a>, <a href="#Page_23">23</a>, + <a href="#Page_25">25</a>, <a href="#Page_27">27</a>, <a href="#Page_29">29</a>, <a href="#Page_31">31</a>, + <a href="#Page_32">32</a>, <a href="#Page_42">42</a>, <a href="#Page_112">112-113</a>.</li> +<li class="isub3"> ”  of uniform thickness, <a href="#Page_25">25</a>, <a href="#Page_30">30-31</a>.</li> +<li class="isub2">Fillets, Dumb, <a href="#Page_46">46</a>, <a href="#Page_61">61-62</a>, + <a href="#Page_89">89</a>, <a href="#Page_92">92</a>, <a href="#Page_112">112</a>, <a href="#Page_116">116</a>.</li> +<li class="isub3"> ”  Flatted, <a href="#Page_25">25</a>, <a href="#Page_26">26</a>, <a href="#Page_27">27</a>.</li> +<li class="isub3"> ”  Rate per cent. of, obtained from Bars, <a href="#Page_20">20</a>, <a href="#Page_92">92</a>, <a href="#Page_108">108</a>, + <a href="#Page_112">112-113</a>, <a href="#Page_116">116</a>, <a href="#Page_160">160-161</a>.</li> +<li class="isub3"> ”  Testing accuracy of, <a href="#Page_22">22</a>, <a href="#Page_23">23-24</a>.</li> +<li class="isub2">Fire-damp Indicator, <a href="#Page_182">182</a>, <a href="#Page_183">183</a>, + <a href="#Page_187">187</a>, <a href="#Page_193">193</a>, <a href="#Page_198">198</a>.</li> +<li class="isub2">Flat end, explanation of term, <a href="#Page_27">27</a>.</li> +<li class="isub2">Flatting Mill described, <a href="#Page_25">25</a>, <a href="#Page_26">26</a>.</li> +<li class="isub2">Forbes, Mr. George, <a href="#Page_64">64</a>, <a href="#Page_155">155</a>.</li> +<li class="isub2">Fourpenny-pieces, Coinage of, required, <a href="#Page_10">10</a>.</li> +<li class="isub2">Fremantle, Mr. C. W., <a href="#Page_iii">iii.</a>, <a href="#Page_iv">iv.</a>, <a href="#Page_v">v.</a>, <a href="#Page_vii">vii.</a>, + <a href="#Page_9">9</a>, <a href="#Page_14">14</a>, <a href="#Page_15">15</a>, <a href="#Page_30">30</a>, <a href="#Page_31">31</a>, <a href="#Page_55">55</a>, + <a href="#Page_56">56</a>, <a href="#Page_59">59</a>, <a href="#Page_72">72</a>, <a href="#Page_91">91</a>,</li> +<li class="isub10"><a href="#Page_97">97</a>, <a href="#Page_99">99</a>, <a href="#Page_100">100</a>, <a href="#Page_102">102</a>, <a href="#Page_106">106</a>, + <a href="#Page_118">118</a>, <a href="#Page_125">125</a>, <a href="#Page_127">127</a>, <a href="#Page_128">128</a>, + <a href="#Page_129">129</a>, <a href="#Page_133">133</a>, <a href="#Page_135">135</a>,</li> +<li class="isub10"> <a href="#Page_144">144</a>, <a href="#Page_147">147</a>, <a href="#Page_152">152</a>, + <a href="#Page_153">153</a>, <a href="#Page_154">154</a>, <a href="#Page_155">155</a>, <a href="#Page_164">164-165</a>, + <a href="#Page_168">168</a>, <a href="#Page_187">187</a>, <a href="#Page_191">191</a>, <a href="#Page_195">195</a>.</li> +<li class="isub2">French War Indemnity, Weight of the, <a href="#Page_71">71</a>.</li> +<li class="isub2">Furnace, Annealing, <a href="#Page_21">21</a>, <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, + <a href="#Page_57">57</a>, <a href="#Page_62">62</a>, <a href="#Page_74">74</a>.</li> + +<li class="isub2 ifrst">Gauges used in Coining, <a href="#Page_22">22</a>, <a href="#Page_23">23-25</a>, <a href="#Page_35">35</a>.</li> +<li class="isub2">Gauging Mill, Description of, <a href="#Page_22">22-24</a>, <a href="#Page_26">26-27</a>, <a href="#Page_30">30-31</a>.</li> +<li class="isub2">Gausby, Mr. Robert, <a href="#Page_93">93</a>.</li> +<li class="isub2">Gibson, Mr. E. S., <a href="#Page_37">37</a>, <a href="#Page_62">62</a>.</li> +<li class="isub2">Gladstone, Right Hon. W. E., <a href="#Page_iii">iii.</a>, <a href="#Page_viii">viii.</a>, <a href="#Page_76">76</a>, <a href="#Page_101">101</a>, <a href="#Page_115">115</a>, + <a href="#Page_187">187</a>, <a href="#Page_188">188</a>, <a href="#Page_192">192</a>, <a href="#Page_194">194</a>.</li> +<li class="isub2">Goodwin, Mr. C. W., <a href="#Page_iii">iii.</a>, <a href="#Page_195">195</a>.</li> +<li class="isub2">Gold, Annealing of, <a href="#Page_22">22</a>, <a href="#Page_31">31</a>, <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, + <a href="#Page_50">50</a>, <a href="#Page_53">53-56</a>, <a href="#Page_57">57-58</a>, <a href="#Page_74">74</a>.</li> +<li class="isub3">” Assay of Standard, described, <a href="#Page_10">10-14</a>, <a href="#Page_53">53-56</a>, <a href="#Page_81">81</a>, <a href="#Page_122">122</a>.</li> +<li class="isub3">” Brittle, Coining of, <a href="#Page_6">6</a>, <a href="#Page_49">49-53</a>, <a href="#Page_98">98</a>, <a href="#Page_105">105</a>, <a href="#Page_112">112</a>, <a href="#Page_176">176</a>, + <a href="#Page_180">180</a>, <a href="#Page_181">181</a>, <a href="#Page_185">185</a>, <a href="#Page_190">190</a>.</li> +<li class="isub3">” Coin, when worn, invariably below standard, <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, <a href="#Page_53">53-56</a>, <a href="#Page_168">168</a>.</li> +<li class="isub3">” Coinage, Statement showing details of, <a href="#Page_89">89</a>, <a href="#Page_92">92</a>.</li> +<li class="isub3">” Coining, Authority for, <a href="#Page_3">3</a>, <a href="#Page_158">158</a>, <a href="#Page_166">166</a>.</li> +<li class="isub3">” Coins, Weight and Value of Worn and Light, <a href="#Page_53">53-56</a>, <a href="#Page_66">66</a>, <a href="#Page_67">67</a>.</li> +<li class="isub3">” Copper is used to alloy, <a href="#Page_4">4</a>, <a href="#Page_6">6</a>, <a href="#Page_7">7-8</a>, <a href="#Page_21">21</a>, <a href="#Page_46">46</a>, + <a href="#Page_48">48-49</a>, <a href="#Page_53">53-56</a>.</li> +<li class="isub3">” Gain by Coining, <a href="#Page_86">86</a>, <a href="#Page_87">87</a>, <a href="#Page_88">88-89</a>, <a href="#Page_90">90-91</a>, + <a href="#Page_92">92</a>, <a href="#Page_93">93</a>, <a href="#Page_94">94</a>, <a href="#Page_95">95</a>, + <a href="#Page_98">98</a>, <a href="#Page_99">99</a>, <a href="#Page_100">100</a>,</li> +<li class="isub10"><a href="#Page_101">101-104</a>, <a href="#Page_145">145</a>,<a href="#Page_168">168</a>, + <a href="#Page_169">169</a>, <a href="#Page_173">173</a>, <a href="#Page_175">175</a>, <a href="#Page_178">178</a>, + <a href="#Page_184">184</a>, <a href="#Page_189">189</a>, <a href="#Page_190">190</a>.</li> +<li class="isub3">” Loss by Annealing, <a href="#Page_21">21</a>, <a href="#Page_22">22</a>, <a href="#Page_31">31</a>, <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, + <a href="#Page_53">53-56</a>, <a href="#Page_57">57</a>, <a href="#Page_86">86</a>, <a href="#Page_92">92</a>.</li> +<li class="isub3">”  ”  Coining, <a href="#Page_9">9</a>, <a href="#Page_16">16</a>, <a href="#Page_21">21</a>, <a href="#Page_22">22</a>, <a href="#Page_31">31</a>, <a href="#Page_49">49</a>, + <a href="#Page_51">51</a>, <a href="#Page_53">53</a>, <a href="#Page_56">56-57</a>, <a href="#Page_82">82-83</a>, <a href="#Page_84">84-86</a>,</li> +<li class="isub10"><a href="#Page_87">87-88</a>, <a href="#Page_89">89</a>, <a href="#Page_90">90</a>, <a href="#Page_91">91</a>, <a href="#Page_92">92</a>, + <a href="#Page_94">94</a>, <a href="#Page_95">95</a>, <a href="#Page_98">98</a>, <a href="#Page_99">99-104</a>, <a href="#Page_117">117</a>, + <a href="#Page_119">119-120</a>, <a href="#Page_122">122</a>, <a href="#Page_125">125</a>,</li> +<li class="isub10"><a href="#Page_126">126</a>, <a href="#Page_129">129</a>, <a href="#Page_145">145</a>, + <a href="#Page_173">173</a>, <a href="#Page_174">174</a>, <a href="#Page_175">175</a>, <a href="#Page_176">176</a>, + <a href="#Page_177">177-179</a>, <a href="#Page_180">180</a>, <a href="#Page_184">184-189</a>, <a href="#Page_190">190</a>.</li> +<li class="isub3">”  ”  Melting, <a href="#Page_86">86</a>, <a href="#Page_87">87</a>, <a href="#Page_96">96</a>, <a href="#Page_97">97</a>, + <a href="#Page_98">98</a>, <a href="#Page_99">99-104</a>, + <a href="#Page_105">105</a>, <a href="#Page_106">106</a>, <a href="#Page_145">145</a>, + <a href="#Page_178">178</a>, <a href="#Page_184">184</a>, <a href="#Page_190">190</a>.</li> +<li class="isub3">” Melting of, described, <a href="#Page_5">5-7</a>, <a href="#Page_46">46</a>, <a href="#Page_53">53</a>, <a href="#Page_56">56</a>, <a href="#Page_129">129</a>, <a href="#Page_144">144</a>.</li> +<li class="isub3">” Price of Standard, <a href="#Page_3">3</a>, <a href="#Page_55">55</a>, <a href="#Page_66">66</a>, <a href="#Page_67">67</a>, <a href="#Page_70">70</a>, + <a href="#Page_73">73</a>, <a href="#Page_84">84</a>, <a href="#Page_120">120</a>, <a href="#Page_122">122</a>, <a href="#Page_130">130</a>.</li> +<li class="isub3">” Refining of, <a href="#Page_14">14</a>, <a href="#Page_49">49</a>, <a href="#Page_50">50</a>, <a href="#Page_52">52</a>, <a href="#Page_53">53</a>, + <a href="#Page_81">81-82</a>, <a href="#Page_104">104</a>, <a href="#Page_108">108</a>.</li> +<li class="isub2">Gold Standard, <a href="#Page_3">3</a>, <a href="#Page_4">4</a>, <a href="#Page_36">36</a>, <a href="#Page_53">53-66</a>, <a href="#Page_70">70</a>, + <a href="#Page_73">73</a>, <a href="#Page_84">84</a>, <a href="#Page_120">120</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws2">affected by Antimony,</span> <a href="#Page_14">14</a>, <a href="#Page_19">19</a>, <a href="#Page_49">49</a>, <a href="#Page_50">50</a>,</li> +<li class="isub10"><a href="#Page_51">51</a>, <a href="#Page_176">176</a>, <a href="#Page_180">180</a>, <a href="#Page_181">181</a>, + <a href="#Page_185">185</a>, <a href="#Page_190">190</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws2">affected by Arsenic,</span> <a href="#Page_14">14</a>, <a href="#Page_49">49</a>, <a href="#Page_50">50</a>, <a href="#Page_51">51</a>, + <a href="#Page_176">176</a>, <a href="#Page_180">180</a>, <a href="#Page_181">181</a>, <a href="#Page_185">185</a>, <a href="#Page_190">190</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws2">affected by Lead,</span> <a href="#Page_6">6</a>, <a href="#Page_14">14</a>, <a href="#Page_49">49</a>, <a href="#Page_51">51</a>, <a href="#Page_81">81</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws4">”</span>  Mercury, <a href="#Page_14">14</a>, <a href="#Page_81">81</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws4">”</span>  Osmium-Iridium, <a href="#Page_81">81</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws4">”</span>  Oxide of Copper, <a href="#Page_6">6</a>, <a href="#Page_49">49</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws4">”</span>  Palladium, <a href="#Page_81">81</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws4">”</span>  Platinum, <a href="#Page_81">81</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws4">”</span>  Tin, <a href="#Page_14">14</a>, <a href="#Page_81">81</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws4">”</span>  Zinc, <a href="#Page_6">6</a>, <a href="#Page_14">14</a>.</li> +<li class="isub3">”  Sweep recovered after Coinage of, <a href="#Page_82">82</a>, <a href="#Page_83">83</a>, <a href="#Page_86">86</a>, <a href="#Page_88">88</a>, <a href="#Page_90">90</a>, + <a href="#Page_91">91</a>, <a href="#Page_93">93</a>, <a href="#Page_98">98</a>, <a href="#Page_106">106-107</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws3">”</span><span class="ws3">Melting of,</span> <a href="#Page_96">96</a>, <a href="#Page_97">97</a>, <a href="#Page_98">98</a>, <a href="#Page_106">106-107</a>.</li> +<li class="isub3">”  Weight and Value of Coined, <a href="#Page_56">56</a>, <a href="#Page_84">84</a>, <a href="#Page_90">90</a>, <a href="#Page_91">91</a>, + <a href="#Page_92">92</a>, <a href="#Page_96">96</a>, <a href="#Page_97">97</a>, + <a href="#Page_106">106</a>, <a href="#Page_111">111</a>, <a href="#Page_114">114</a>, <a href="#Page_121">121</a>, + <a href="#Page_167">167</a>, <a href="#Page_178">178</a>, <a href="#Page_190">190</a>.</li> +<li class="isub3">”  and Silver Refining of, <a href="#Page_81">81-82</a>, <a href="#Page_104">104</a>, <a href="#Page_138">138</a>, <a href="#Page_160">160</a>.</li> +<li class="isub3">”  while at the Mint bears no interest, <a href="#Page_126">126</a>.</li> +<li class="isub2">Graham, Mr. John, <a href="#Page_15">15</a>, <a href="#Page_44">44</a>, <a href="#Page_71">71</a>, <a href="#Page_94">94</a>, <a href="#Page_98">98</a>, + <a href="#Page_108">108</a>, <a href="#Page_112">112</a>, <a href="#Page_163">163</a>, <a href="#Page_182">182</a>, + <a href="#Page_185">185</a>, <a href="#Page_187">187</a>, <a href="#Page_191">191</a>, <a href="#Page_196">196</a>, <a href="#Page_197">197</a>.</li> +<li class="isub4">”  ” Thomas, <a href="#Page_iii">iii.</a>, <a href="#Page_iv">iv.</a>, <a href="#Page_vii">vii.</a>, <a href="#Page_viii">viii.</a>, + <a href="#Page_ix">ix.</a>, <a href="#Page_xi">xi.</a>, <a href="#Page_xv">xv.</a>, <a href="#Page_xvi">xvi.</a>, + <a href="#Page_50">50</a>, <a href="#Page_51">51</a>, <a href="#Page_54">54</a>, <a href="#Page_71">71</a>, <a href="#Page_83">83</a>, <a href="#Page_93">93</a>,</li> +<li class="isub10"><a href="#Page_118">118</a>, <a href="#Page_119">119</a>, <a href="#Page_144">144</a>, <a href="#Page_153">153</a>, + <a href="#Page_154">154</a>, <a href="#Page_155">155</a>, <a href="#Page_164">164-165</a>, <a href="#Page_170">170</a>, + <a href="#Page_172">172</a>, <a href="#Page_174">174</a>, <a href="#Page_180">180</a>,</li> +<li class="isub10"><a href="#Page_182">182</a>, <a href="#Page_183">183</a>, <a href="#Page_187">187</a>, <a href="#Page_193">193</a>, + <a href="#Page_194">194</a>, <a href="#Page_195">195</a>, <a href="#Page_196">196</a>, <a href="#Page_197">197</a>, <a href="#Page_198">198</a>.</li> +<li class="isub2">Graphite Pots for Melting, <a href="#Page_5">5</a>, <a href="#Page_129">129</a>.</li> +<li class="isub2">Granville, Right Hon. Earl, <a href="#Page_166">166</a>.</li> + +<li class="isub2 ifrst">Hatchett, Experiments of, <a href="#Page_49">49</a>, <a href="#Page_157">157</a>.</li> +<li class="isub2">Hatchett, Mr. C., <a href="#Page_49">49</a>, <a href="#Page_157">157</a>.</li> +<li class="isub2">Hawkins, Mr. Edward, <a href="#Page_62">62</a>.</li> +<li class="isub2">Herschel, Sir J. F. W., <a href="#Page_54">54</a>, <a href="#Page_167">167</a>.</li> +<li class="isub2">Hofmann, Dr. A. W., <a href="#Page_xv">xv.</a>, <a href="#Page_xvi">xvi.</a>, <a href="#Page_172">172</a>, <a href="#Page_189">189</a>.</li> +<li class="isub2">Holland, Mr. P. H., <a href="#Page_183">183</a>.</li> +<li class="isub2">Hubbard, Mr. J. G., <a href="#Page_55">55</a>, <a href="#Page_121">121</a>.</li> +<li class="isub2">Hunt, Mr. Robert, <a href="#Page_182">182</a>, <a href="#Page_183">183</a>.</li> + +<li class="isub2 ifrst">Imperfect Coins, Brockages, <a href="#Page_68">68</a>, <a href="#Page_69">69</a>, <a href="#Page_70">70</a>, <a href="#Page_92">92</a>, <a href="#Page_161">161</a>.</li> +<li class="isub2">Importation of Ingots for Coining, <a href="#Page_3">3</a>, <a href="#Page_4">4</a>, <a href="#Page_127">127</a>, <a href="#Page_170">170</a>.</li> +<li class="isub2">Improvements, Difficulties attending introduction of, <a href="#Page_9">9</a>, <a href="#Page_15">15</a>, <a href="#Page_40">40</a>, <a href="#Page_44">44</a>, + <a href="#Page_46">46</a>, <a href="#Page_51">51</a>.</li> +<li class="isub2">Indemnity, Weight of the French War, <a href="#Page_71">71</a>.</li> +<li class="isub2">Indenture, Weight and Fineness of each Coin was fixed by Mint, <a href="#Page_36">36</a>, <a href="#Page_71">71</a>, <a href="#Page_108">108</a>, <a href="#Page_166">166</a>.</li> +<li class="isub2">Indicator, Fire-damp, <a href="#Page_182">182</a>, <a href="#Page_183">183</a>, <a href="#Page_187">187</a>, <a href="#Page_193">193</a>, <a href="#Page_198">198</a>.</li> +<li class="isub2">Ingots, “Potting” of, <a href="#Page_4">4</a>.</li> +<li class="isub2">Integrity and Accuracy of the Coinage, <a href="#Page_14">14</a>, <a href="#Page_42">42-44</a>, + <a href="#Page_53">53-56</a>, <a href="#Page_70">70</a>, <a href="#Page_71">71-72</a>, + <a href="#Page_123">123-125</a>, <a href="#Page_127">127</a>, <a href="#Page_157">157-159</a>, <a href="#Page_166">166-167</a>.</li> +<li class="isub2">International Coinage, Report of Commissioners on, <a href="#Page_36">36</a>, <a href="#Page_119">119</a>, <a href="#Page_120">120</a>.</li> +<li class="isub2">Italy, Bronze Coinage of, <a href="#Page_64">64</a>.</li> + +<li class="isub2 ifrst">Jones, Mr. Meredith, <a href="#Page_47">47</a>, <a href="#Page_179">179</a>, <a href="#Page_180">180</a>.</li> +<li class="isub2">Journey, Weight a, <a href="#Page_36">36</a>, <a href="#Page_70">70</a>.</li> + +<li class="isub2 ifrst">Keys of Strongholds, <a href="#Page_173">173</a>.</li> +<li class="isub2">Kinnaird, Right Hon. Lord, <a href="#Page_iii">iii.-v.</a>, <a href="#Page_vii">vii.</a>, <a href="#Page_ix">ix.</a>, <a href="#Page_xiii">xiii.</a>, + <a href="#Page_51">51</a>, <a href="#Page_52">52</a>, <a href="#Page_54">54</a>, <a href="#Page_56">56</a>, <a href="#Page_91">91</a>, <a href="#Page_97">97</a>,</li> +<li class="isub6"><a href="#Page_100">100</a>, <a href="#Page_101">101</a>, <a href="#Page_102">102</a>, <a href="#Page_105">105</a>, + <a href="#Page_106">106</a>, <a href="#Page_108">108</a>, <a href="#Page_126">126</a>, <a href="#Page_133">133</a>, + <a href="#Page_135">135</a>, <a href="#Page_145">145-147</a>, <a href="#Page_148">148</a>, <a href="#Page_149">149</a>, + <a href="#Page_151">151</a>, <a href="#Page_152">152</a>, <a href="#Page_153">153</a>,</li> +<li class="isub6"><a href="#Page_163">163</a>, <a href="#Page_164">164</a>, <a href="#Page_171">171</a>, + <a href="#Page_183">183</a>, <a href="#Page_186">186</a>, <a href="#Page_188">188</a>, <a href="#Page_192">192-199</a>.</li> +<li class="isub4">”  Hon. A., M.P., <a href="#Page_192">192</a>, <a href="#Page_194">194</a>.</li> + +<li class="isub2 ifrst">Lansdowne, Marquess of, <a href="#Page_iv">iv.</a>, <a href="#Page_ix">ix.</a>, <a href="#Page_52">52</a>, <a href="#Page_99">99</a>, + <a href="#Page_100">100</a>, <a href="#Page_104">104</a>, <a href="#Page_105">105</a>, <a href="#Page_106">106</a>,</li> +<li class="isub12"><a href="#Page_146">146</a>, <a href="#Page_147">147-148</a>, <a href="#Page_149">149</a>, <a href="#Page_152">152</a>, <a href="#Page_171">171</a>.</li> +<li class="isub2">Legal Tender, Amount of Coins in, <a href="#Page_68">68</a>, <a href="#Page_76">76</a>, <a href="#Page_151">151</a>, <a href="#Page_162">162</a>, <a href="#Page_166">166</a>.</li> +<li class="isub2">Loss by Annealing, <a href="#Page_9">9</a>, <a href="#Page_21">21</a>, <a href="#Page_22">22</a>, <a href="#Page_31">31</a>, <a href="#Page_48">48</a>, <a href="#Page_49">49</a>, + 53-<a href="#Page_56">56</a>, <a href="#Page_86">86</a>, <a href="#Page_92">92</a>, <a href="#Page_138">138</a>, <a href="#Page_161">161</a>, <a href="#Page_162">162</a>.</li> +<li class="isub3">” by Coining Bronze, <a href="#Page_129">129</a>, <a href="#Page_147">147</a>, <a href="#Page_162">162-165</a>.</li> +<li class="isub3">”<span class="ws3">”</span><span class="ws2">Gold,</span> <a href="#Page_9">9</a>, <a href="#Page_16">16</a>, <a href="#Page_21">21</a>, <a href="#Page_22">22</a>, <a href="#Page_31">31</a>, <a href="#Page_49">49</a>, + <a href="#Page_51">51</a>, <a href="#Page_53">53</a>, <a href="#Page_56">56-57</a>, <a href="#Page_82">82</a>, <a href="#Page_83">83</a>, + <a href="#Page_84">84</a>, <a href="#Page_86">86</a>, <a href="#Page_87">87-88</a>,</li> +<li class="isub10"><a href="#Page_90">90</a>, <a href="#Page_91">91</a>, <a href="#Page_92">92</a>, <a href="#Page_94">94</a>, <a href="#Page_95">95</a>, <a href="#Page_98">98</a>, + <a href="#Page_99">99-104</a>, <a href="#Page_117">117</a>, <a href="#Page_119">119</a>, <a href="#Page_120">120</a>, + <a href="#Page_122">122</a>, <a href="#Page_125">125</a>, <a href="#Page_126">126</a>,</li> +<li class="isub10"><a href="#Page_129">129</a>, <a href="#Page_145">145</a>, <a href="#Page_173">173</a>, + <a href="#Page_174">174</a>, <a href="#Page_175">175</a>, <a href="#Page_176">176</a>, <a href="#Page_177">177-179</a>, + <a href="#Page_180">180</a>, <a href="#Page_184">184-189</a>, <a href="#Page_190">190</a>.</li> +<li class="isub3">”<span class="ws3">”</span><span class="ws2">Silver,</span> <a href="#Page_v">v.</a>, <a href="#Page_16">16</a>, <a href="#Page_21">21</a>, <a href="#Page_22">22</a>, + <a href="#Page_74">74</a>, <a href="#Page_82">82</a>, <a href="#Page_95">95</a>, + <a href="#Page_105">105</a>, <a href="#Page_106">106</a>, <a href="#Page_126">126</a>, + <a href="#Page_130">130</a>, <a href="#Page_131">131-133</a>,</li> +<li class="isub12"><a href="#Page_139">139-140</a>, <a href="#Page_141">141</a>, <a href="#Page_142">142</a>, + <a href="#Page_143">143</a>, <a href="#Page_145">145-148</a>, <a href="#Page_149">149</a>.</li> +<li class="isub3">” by Melting Gold, 86-<a href="#Page_87">87</a>, <a href="#Page_96">96</a>, <a href="#Page_97">97</a>, <a href="#Page_98">98</a>, <a href="#Page_99">99-104</a>, + <a href="#Page_105">105</a>, <a href="#Page_106">106</a>, <a href="#Page_145">145</a>, + <a href="#Page_178">178</a>, <a href="#Page_184">184</a>, <a href="#Page_190">190</a>.</li> +<li class="isub3">” by Melting Silver, <a href="#Page_131">131</a>, <a href="#Page_134">134-135</a>, + <a href="#Page_136">136-142</a>, <a href="#Page_143">143</a>, <a href="#Page_144">144</a>, <a href="#Page_184">184</a>, <a href="#Page_189">189</a>.</li> +<li class="isub3">” of Profit on Silver Coinage, <a href="#Page_v">v.</a>, <a href="#Page_129">129</a>, <a href="#Page_130">130</a>, + <a href="#Page_146">146</a>, <a href="#Page_147">147</a>, <a href="#Page_148">148-151-156</a>.</li> +<li class="isub2">Lowe, Right Hon. Robert, <a href="#Page_iii">iii.</a>, <a href="#Page_v">v.</a>, <a href="#Page_ix">ix.</a>, <a href="#Page_104">104</a>, + <a href="#Page_120">120</a>, <a href="#Page_127">127</a>, <a href="#Page_150">150</a>, <a href="#Page_151">151</a>,</li> +<li class="isub10"><a href="#Page_164">164</a>, <a href="#Page_166">166</a>, <a href="#Page_171">171</a>, + <a href="#Page_188">188</a>, <a href="#Page_192">192</a>, <a href="#Page_193">193</a>, <a href="#Page_196">196</a>.</li> +<li class="isub2">Lowndes, Mr. W., <a href="#Page_2">2</a>, <a href="#Page_159">159</a>.</li> +<li class="isub2">Lowry, Mr. J. W., <a href="#Page_37">37</a>.</li> + +<li class="isub2 ifrst">Marking Machine, Jones’s, <a href="#Page_46">46-48</a>.</li> +<li class="isub2">Martin, Mr. John, <a href="#Page_30">30</a>.</li> +<li class="isub2">Mathison, Mr. Gilbert F., <a href="#Page_99">99</a>.</li> +<li class="isub2">Melting Gold, Loss by, <a href="#Page_53">53</a>, <a href="#Page_86">86</a>, <a href="#Page_87">87</a>, <a href="#Page_96">96</a>, <a href="#Page_97">97</a>, + <a href="#Page_98">98</a>, <a href="#Page_99">99-104</a>, + <a href="#Page_105">105</a>, <a href="#Page_106">106</a>, <a href="#Page_145">145</a>,</li> +<li class="isub6"><a href="#Page_178">178</a>, <a href="#Page_184">184</a>, <a href="#Page_190">190</a>.</li> +<li class="isub2">Melting Gold, Process of, described, <a href="#Page_5">5-7</a>, <a href="#Page_46">46</a>, <a href="#Page_53">53</a>, <a href="#Page_56">56</a>, <a href="#Page_129">129</a>, <a href="#Page_144">144</a>.</li> +<li class="isub2">Melting Silver, Process of, described, <a href="#Page_7">7-9</a>, <a href="#Page_46">46</a>, <a href="#Page_129">129</a>, <a href="#Page_138">138-145</a>.</li> +<li class="isub2">Melting Silver, Gain by, <a href="#Page_134">134-135</a>, <a href="#Page_136">136</a>, <a href="#Page_137">137</a>, + <a href="#Page_142">142</a>, <a href="#Page_143">143</a>.</li> +<li class="isub3">”<span class="ws3">”</span>  Loss by, <a href="#Page_131">131</a>, <a href="#Page_134">134-135</a>, + <a href="#Page_136">136-142</a>, <a href="#Page_143">143</a>, <a href="#Page_144">144</a>, <a href="#Page_184">184</a>, <a href="#Page_189">189</a>.</li> +<li class="isub3">”<span class="ws3">Value</span> of Sweep recovered from Gold, <a href="#Page_96">96</a>, <a href="#Page_97">97</a>, <a href="#Page_98">98</a>, <a href="#Page_106">106-107</a>.</li> +<li class="isub3">”<span class="ws3">Value</span> of Sweep recovered from Silver, <a href="#Page_106">106</a>, <a href="#Page_107">107</a>, + <a href="#Page_131">131</a>, <a href="#Page_134">134</a>, <a href="#Page_135">135</a>, <a href="#Page_138">138</a>, + <a href="#Page_139">139</a>, <a href="#Page_140">140</a>, <a href="#Page_144">144</a>.</li> +<li class="isub2">Metals, Annealing of, <i>see</i> Annealing.</li> +<li class="isub2">Miller, Mr. John, <a href="#Page_66">66</a>.</li> +<li class="isub3">”  ” Wm., <a href="#Page_64">64</a>, <a href="#Page_65">65</a>, <a href="#Page_67">67</a>, <a href="#Page_155">155</a>, <a href="#Page_156">156</a>.</li> +<li class="isub2">Mint Indenture formerly fixed Weight and Fineness of Coins, <a href="#Page_36">36</a>, <a href="#Page_71">71</a>, <a href="#Page_108">108</a>, <a href="#Page_166">166</a>.</li> +<li class="isub2">Mint Notes, Issue of, for Bullion, <a href="#Page_170">170</a>.</li> +<li class="isub2">Mint premises, building of New, <a href="#Page_v">v.</a>, <a href="#Page_127">127</a>, <a href="#Page_128">128</a>.</li> +<li class="isub2">Money, Hammered and Milled, <a href="#Page_1">1</a>, <a href="#Page_2">2</a>, <a href="#Page_159">159</a>.</li> +<li class="isub2">Moneyers, The Company of, <a href="#Page_82">82</a>, <a href="#Page_87">87</a>, <a href="#Page_99">99</a>, <a href="#Page_112">112</a>.</li> +<li class="isub2">Monteagle, Lord, <a href="#Page_166">166</a>.</li> +<li class="isub2">Murray, Mr. John, <a href="#Page_31">31</a>.</li> + +<li class="isub2 ifrst">Napier, Mr. James M., <a href="#Page_15">15</a>, <a href="#Page_16">16</a>, <a href="#Page_34">34</a>, <a href="#Page_37">37</a>, <a href="#Page_40">40</a>, + <a href="#Page_42">42</a>, <a href="#Page_44">44</a>, <a href="#Page_59">59</a>, <a href="#Page_61">61</a>,</li> +<li class="isub11"><a href="#Page_74">74</a>, <a href="#Page_108">108</a>, <a href="#Page_147">147</a>, + <a href="#Page_148">148</a>, <a href="#Page_169">169</a>.</li> + +<li class="isub2 ifrst">Oakes, Mr., <a href="#Page_182">182</a>.</li> +<li class="isub2">Oil on Scissel, <a href="#Page_29">29</a>, <a href="#Page_32">32</a>, <a href="#Page_33">33</a>, <a href="#Page_35">35</a>,</li> +<li class="isub6"><a href="#Page_86">86</a>, <a href="#Page_87">87</a>, <a href="#Page_98">98</a>, <a href="#Page_99">99</a>,</li> +<li class="isub6"><a href="#Page_131">131</a>, <a href="#Page_136">136</a>, <a href="#Page_139">139</a>,</li> +<li class="isub6"><a href="#Page_140">140</a>, <a href="#Page_174">174</a>, <a href="#Page_175">175</a>, <a href="#Page_176">176</a>.</li> +<li class="isub3">” to Lubricate Fillets, <a href="#Page_32">32</a>, <a href="#Page_33">33</a>, <a href="#Page_176">176</a>.</li> +<li class="isub2">Orders, “Circulating,” <a href="#Page_94">94</a>.</li> +<li class="isub2">Office, System of Promotion to, <a href="#Page_v">v.</a>, <a href="#Page_viii">viii.</a>, <a href="#Page_15">15</a>, <a href="#Page_52">52</a>,</li> +<li class="isub6"><a href="#Page_56">56</a>, <a href="#Page_94">94</a>, <a href="#Page_108">108</a>, <a href="#Page_115">115</a>, <a href="#Page_128">128</a>,</li> +<li class="isub6"><a href="#Page_153">153</a>, <a href="#Page_169">169</a>, <a href="#Page_171">171</a>, <a href="#Page_173">173</a>,</li> +<li class="isub6"><a href="#Page_175">175</a>, <a href="#Page_176">176</a>, <a href="#Page_177">177</a>, <a href="#Page_182">182</a>.</li> + +<li class="isub2 ifrst">Parliament, Acts of, relating to the Coinage, <a href="#Page_3">3</a>, <a href="#Page_36">36</a>, <a href="#Page_56">56</a>, <a href="#Page_71">71</a>,</li> +<li class="isub6"><a href="#Page_72">72</a>, <a href="#Page_73">73</a>, <a href="#Page_109">109</a>, <a href="#Page_124">124</a>,</li> +<li class="isub6"><a href="#Page_150">150</a>, <a href="#Page_157">157</a>, <a href="#Page_159">159</a>, <a href="#Page_166">166</a>.</li> +<li class="isub2">Palmerston, Lord, <a href="#Page_xv">xv.</a>, <a href="#Page_140">140</a>, <a href="#Page_171">171</a>.</li> +<li class="isub2">Pepys, Samuel, Diary of, <a href="#Page_158">158</a>, <a href="#Page_159">159</a>.</li> +<li class="isub2">Percy, Dr., <a href="#Page_6">6</a>, <a href="#Page_52">52</a>.</li> +<li class="isub2">Pilcher, Mr. Richard, <a href="#Page_37">37</a>, <a href="#Page_39">39</a>, <a href="#Page_42">42</a>, <a href="#Page_44">44</a>,</li> +<li class="isub6"><a href="#Page_47">47</a>, <a href="#Page_177">177</a>, <a href="#Page_179">179</a>, <a href="#Page_180">180</a>.</li> +<li class="isub2">Pilcher’s File, <a href="#Page_42">42-46</a>, <a href="#Page_176">176</a>, <a href="#Page_179">179</a>, <a href="#Page_180">180</a>.</li> +<li class="isub2">Playfair, Dr. Lyon, <a href="#Page_iii">iii.</a>, <a href="#Page_iv">iv.</a>, <a href="#Page_195">195</a>, <a href="#Page_196">196</a>.</li> +<li class="isub2">Pounding of Coins, its use and abuse, <a href="#Page_35">35</a>, <a href="#Page_49">49</a>, <a href="#Page_53">53</a>, <a href="#Page_71">71-72</a>,</li> +<li class="isub6"><a href="#Page_73">73</a>, <a href="#Page_125">125</a>, <a href="#Page_167">167</a>.</li> +<li class="isub2">Proclamations relating to the Coinage, <a href="#Page_68">68</a>, <a href="#Page_76">76</a>.</li> +<li class="isub2">Promotion to Office, System of, <a href="#Page_v">v.</a>, <a href="#Page_viii">viii.</a>, <a href="#Page_15">15</a>, <a href="#Page_52">52</a>,</li> +<li class="isub6"><a href="#Page_56">56</a>, <a href="#Page_94">94</a>, <a href="#Page_108">108</a>, <a href="#Page_115">115</a>,</li> +<li class="isub6"><a href="#Page_128">128</a>, <a href="#Page_153">153</a>, <a href="#Page_169">169</a>, <a href="#Page_171">171</a>,</li> +<li class="isub6"><a href="#Page_173">173</a>, <a href="#Page_175">175</a>, <a href="#Page_176">176</a>, <a href="#Page_177">177</a>, <a href="#Page_182">182</a>.</li> +<li class="isub2">Pyx Pieces, Weight of, <a href="#Page_56">56</a>, <a href="#Page_92">92</a>, <a href="#Page_112">112</a>, <a href="#Page_113">113</a>, <a href="#Page_114">114</a>, <a href="#Page_161">161</a>.</li> +<li class="isub3">” Suggestions as to the Trial of the, 53-<a href="#Page_54">54</a>, <a href="#Page_56">56</a>.</li> +<li class="isub3">” The Trial of the, <a href="#Page_49">49</a>, <a href="#Page_56">56</a>, <a href="#Page_70">70</a>, <a href="#Page_123">123-124</a>, <a href="#Page_166">166-167</a>.</li> + +<li class="isub2 ifrst">Queen, Her Majesty the, <a href="#Page_166">166</a>, <a href="#Page_168">168</a>, <a href="#Page_183">183</a>.</li> + +<li class="isub2 ifrst">Rejected Blanks, <a href="#Page_30">30</a>, <a href="#Page_32">32</a>, <a href="#Page_35">35</a>, <a href="#Page_42">42-44</a>,</li> +<li class="isub6"><a href="#Page_46">46</a>, <a href="#Page_92">92</a>, <a href="#Page_107">107-110</a>, <a href="#Page_161">161</a>,</li> +<li class="isub6"><a href="#Page_170">170</a>, <a href="#Page_179">179</a>, <a href="#Page_184">184</a>, <a href="#Page_189">189</a>.</li> +<li class="isub2">Rejected Coins, <a href="#Page_42">42-44</a>, <a href="#Page_46">46</a>, <a href="#Page_107">107-110</a>.</li> +<li class="isub3"> ”<span class="ws2">explanation of term,</span> <a href="#Page_44">44</a>.</li> +<li class="isub2">Remedy allowed, <a href="#Page_32">32</a>, <a href="#Page_39">39</a>, <a href="#Page_43">43</a>, <a href="#Page_108">108</a>.</li> +<li class="isub3">”<span class="ws2">explanation of term,</span> <a href="#Page_39">39</a>, <a href="#Page_167">167</a>.</li> +<li class="isub3">” <span class="ws2">practically used,</span> <a href="#Page_32">32</a>, <a href="#Page_71">71-72</a>, <a href="#Page_108">108-110</a>, <a href="#Page_112">112</a>.</li> +<li class="isub2">Rennie, Mr. G., <a href="#Page_xvi">xvi.</a>, <a href="#Page_172">172</a>.</li> +<li class="isub2">Reports on Mint, <a href="#Page_14">14</a>, <a href="#Page_118">118-119</a>, <a href="#Page_127">127</a>, <a href="#Page_147">147</a>.</li> +<li class="isub2">Roberts, Mr. W. C., <a href="#Page_v">v.</a>, <a href="#Page_52">52</a>, <a href="#Page_53">53</a>, <a href="#Page_55">55</a>,</li> +<li class="isub6"><a href="#Page_56">56</a>, <a href="#Page_57">57</a>, <a href="#Page_74">74</a>, <a href="#Page_99">99</a>, <a href="#Page_100">100</a>,</li> +<li class="isub6"><a href="#Page_105">105</a>, <a href="#Page_129">129</a>, <a href="#Page_144">144</a>, <a href="#Page_147">147</a>,</li> +<li class="isub6"><a href="#Page_153">153</a>, <a href="#Page_154">154</a>.</li> +<li class="isub2">Rolling Mill, <a href="#Page_18">18-20</a>, <a href="#Page_22">22-23</a>, <a href="#Page_26">26-27</a>, <a href="#Page_30">30-31</a>.</li> +<li class="isub2">Rolling Mills, Accuracy to be obtained by, <a href="#Page_23">23</a>, <a href="#Page_25">25</a>, <a href="#Page_27">27</a>, <a href="#Page_30">30-31</a>.</li> +<li class="isub2">Rollers, Steel, <a href="#Page_26">26</a>, <a href="#Page_27">27</a>, <a href="#Page_30">30</a>, <a href="#Page_31">31</a>.</li> +<li class="isub2">Rossie, Lord, <i>see</i> Kinnaird, Lord.</li> +<li class="isub2">Ryan, Sir Edward, <a href="#Page_166">166</a>.</li> + +<li class="isub2 ifrst">Scissel, Meaning of the word, <a href="#Page_2">2</a>, <a href="#Page_35">35</a>.</li> +<li class="isub3"> ”<span class="ws2">Melting of,</span> <a href="#Page_8">8</a>, <a href="#Page_136">136-137</a>.</li> +<li class="isub3"> ”<span class="ws2">Oil upon,</span> <a href="#Page_29">29</a>, <a href="#Page_32">32</a>, <a href="#Page_33">33</a>, <a href="#Page_35">35</a>,</li> +<li class="isub6"><a href="#Page_86">86</a>, <a href="#Page_87">87</a>, <a href="#Page_98">98</a>, <a href="#Page_99">99</a>,</li> +<li class="isub6"><a href="#Page_131">131</a>, <a href="#Page_139">139</a>, <a href="#Page_140">140</a>, <a href="#Page_174">174</a>,</li> +<li class="isub6"><a href="#Page_175">175</a>, <a href="#Page_176">176</a>.</li> +<li class="isub2">Seyd, Mr. Ernest, <a href="#Page_54">54-55</a>, <a href="#Page_130">130</a>.</li> +<li class="isub2">Shears, Description of, <a href="#Page_19">19</a>, <a href="#Page_20">20</a>, <a href="#Page_21">21</a>,</li> +<li class="isub6"><a href="#Page_25">25</a>, <a href="#Page_30">30</a>, <a href="#Page_31">31</a>.</li> +<li class="isub2">Short, Mr. S. R., <a href="#Page_16">16</a>.</li> +<li class="isub2">Silver copper used to alloy, <a href="#Page_7">7-8</a>, <a href="#Page_46">46</a>, <a href="#Page_49">49</a>.</li> +<li class="isub2">Silver, Annealing of, <a href="#Page_2">2</a>, <a href="#Page_31">31</a>, <a href="#Page_72">72-74</a>, <a href="#Page_143">143</a>,</li> +<li class="isub6"><a href="#Page_161">161</a>, <a href="#Page_162">162</a>.</li> +<li class="isub3">”  as an Alloy for Gold, <a href="#Page_13">13</a>, <a href="#Page_53">53</a>, <a href="#Page_81">81</a>.</li> +<li class="isub3">”  Assaying of Standard, <a href="#Page_13">13</a>.</li> +<li class="isub3">”  Authority for Coining, <a href="#Page_3">3</a>, <a href="#Page_166">166</a>, <a href="#Page_167">167</a>.</li> +<li class="isub3">”  Coinage, Loss of Profit or Seigniorage on, <a href="#Page_v">v.</a>, <a href="#Page_129">129-130</a>, <a href="#Page_146">146</a>,</li> +<li class="isub10"><a href="#Page_147">147</a>, <a href="#Page_148">148-151-156</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws2">Profit or Seigniorage derived from,</span> <a href="#Page_iv">iv.</a>, <a href="#Page_3">3</a>,</li> +<li class="isub10"><a href="#Page_146">146-148</a>, <a href="#Page_151">151</a>, <a href="#Page_152">152</a>,</li> +<li class="isub10"><a href="#Page_153">153</a>, <a href="#Page_154">154-156</a>, <a href="#Page_157">157-159</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws2">Tabular Statement showing details of,</span> <a href="#Page_159">159</a>, <a href="#Page_160">160</a>,</li> +<li class="isub10"><a href="#Page_161">161</a>, <a href="#Page_162">162</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws2">Weight and Value of,</span> <a href="#Page_65">65</a>, <a href="#Page_132">132-135</a>, + <a href="#Page_146">146</a>,</li> +<li class="isub10"><a href="#Page_149">149</a>, <a href="#Page_150">150</a>, <a href="#Page_151">151</a>, <a href="#Page_152">152</a>,</li> +<li class="isub10"><a href="#Page_154">154</a>, <a href="#Page_156">156</a>, <a href="#Page_160">160</a>,</li> +<li class="isub10"><a href="#Page_161">161</a>, <a href="#Page_167">167</a>.</li> +<li class="isub3">”  Coining of, <a href="#Page_7">7</a>, <a href="#Page_67">67</a>, <a href="#Page_72">72</a>, <a href="#Page_74">74</a>,</li> +<li class="isub6"><a href="#Page_116">116</a>, <a href="#Page_118">118</a>, <a href="#Page_121">121</a>, <a href="#Page_129">129</a>,</li> +<li class="isub6"><a href="#Page_143">143</a>, <a href="#Page_159">159-161</a>.</li> +<li class="isub3">”  Coins, Weight and Value of Worn and Light, <a href="#Page_64">64-65</a>, <a href="#Page_66">66</a>, <a href="#Page_67">67</a>,</li> +<li class="isub6"><a href="#Page_130">130</a>, <a href="#Page_146">146</a>, <a href="#Page_152">152</a>, <a href="#Page_155">155</a>, <a href="#Page_156">156</a>.</li> +<li class="isub3">”  Gain by Coining, <a href="#Page_95">95</a>, <a href="#Page_130">130</a>, <a href="#Page_131">131</a>, <a href="#Page_160">160</a>.</li> +<li class="isub3">”<span class="ws2">”</span> Melting, <a href="#Page_134">134-135</a>, <a href="#Page_136">136</a>, <a href="#Page_137">137</a>.</li> +<li class="isub3">”  Loss by Annealing, <a href="#Page_31">31</a>, <a href="#Page_72">72-74</a>, <a href="#Page_143">143</a>, <a href="#Page_161">161</a>, <a href="#Page_162">162</a>.</li> +<li class="isub3">”<span class="ws2">”</span> Coining, <a href="#Page_v">v.</a>, <a href="#Page_16">16</a>, <a href="#Page_21">21</a>, <a href="#Page_22">22</a>, <a href="#Page_74">74</a>,</li> +<li class="isub6"><a href="#Page_82">82</a>, <a href="#Page_95">95</a>, <a href="#Page_105">105</a>, <a href="#Page_106">106</a>, <a href="#Page_126">126</a>,</li> +<li class="isub6"><a href="#Page_130">130</a>, <a href="#Page_131">131-133</a>, <a href="#Page_139">139-140</a>,</li> +<li class="isub6"><a href="#Page_141">141</a>, <a href="#Page_142">142</a>, <a href="#Page_143">143</a>, + <a href="#Page_145">145-148</a>, <a href="#Page_149">149</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws2">Melting,</span> <a href="#Page_131">131</a>, <a href="#Page_134">134-135</a>, + <a href="#Page_136">136-142</a>,</li> +<li class="isub10"><a href="#Page_143">143</a>, <a href="#Page_144">144</a>, <a href="#Page_184">184</a>, <a href="#Page_189">189</a>.</li> +<li class="isub3">”  Melting of, <a href="#Page_7">7-9</a>, <a href="#Page_46">46</a>, <a href="#Page_129">129</a>, <a href="#Page_138">138-145</a>.</li> +<li class="isub3">”  Standard, <a href="#Page_3">3</a>, <a href="#Page_8">8</a>, <a href="#Page_73">73</a>, <a href="#Page_129">129</a>, <a href="#Page_130">130</a>, <a href="#Page_142">142</a>, <a href="#Page_157">157</a>.</li> +<li class="isub3">”  Sweep recovered from Coinage, <a href="#Page_82">82</a>, <a href="#Page_83">83</a>, <a href="#Page_86">86</a>, <a href="#Page_106">106-107</a>,</li> +<li class="isub6"><a href="#Page_131">131</a>, <a href="#Page_132">132</a>, <a href="#Page_133">133</a>, <a href="#Page_144">144</a>.</li> +<li class="isub3">”  Sweep recovered from Melting, <a href="#Page_106">106-107</a>, <a href="#Page_131">131</a>, <a href="#Page_134">134</a>, <a href="#Page_135">135</a>,</li> +<li class="isub6"><a href="#Page_138">138</a>, <a href="#Page_139">139</a>, <a href="#Page_140">140</a>, <a href="#Page_144">144</a>.</li> +<li class="isub2">Simon, Thomas, Petition Crown of, <a href="#Page_62">62-64</a>.</li> +<li class="isub2">Smith, Colonel J. T., <a href="#Page_140">140-141</a>, <a href="#Page_142">142-143</a>.</li> +<li class="isub3">”  Dr. Angus R., <a href="#Page_183">183</a>.</li> +<li class="isub3">”  Mr. Richard, <a href="#Page_6">6</a>.</li> +<li class="isub2">Soap for Lubricating Fillets, <a href="#Page_32">32</a>, <a href="#Page_33">33</a>.</li> +<li class="isub2">Sovereign, Legal and Current Weight of, <a href="#Page_39">39</a>, <a href="#Page_66">66</a>, <a href="#Page_68">68</a>, <a href="#Page_70">70</a>,</li> +<li class="isub10"><a href="#Page_73">73</a>, <a href="#Page_120">120</a>, <a href="#Page_122">122-123</a>, <a href="#Page_124">124</a>.</li> +<li class="isub4">”<span class="ws2">Sweating of,</span> <a href="#Page_59">59</a>, <a href="#Page_125">125</a>, <a href="#Page_141">141</a>.</li> +<li class="isub2">Steel Rollers, <a href="#Page_26">26-27</a>, <a href="#Page_30">30-31</a>.</li> +<li class="isub5">”<span class="ws2">Used for Dies,</span> <a href="#Page_76">76-81</a>, <a href="#Page_157">157-158</a>.</li> +<li class="isub2">Sterry, Mr. Charles, <a href="#Page_194">194</a>.</li> +<li class="isub2">Strongholds, the Keys of the, <a href="#Page_173">173</a>.</li> +<li class="isub2">Supply, or Scrap Bullion, <a href="#Page_86">86</a>, <a href="#Page_98">98</a>, <a href="#Page_161">161</a>, <a href="#Page_162">162</a>.</li> +<li class="isub2">Sweep, explanation of term, <a href="#Page_86">86</a>, <a href="#Page_106">106</a>, <a href="#Page_140">140</a>.</li> +<li class="isub3">”<span class="ws2">recovered from Gold Coinage,</span> <a href="#Page_52">52</a>, <a href="#Page_82">82</a>, <a href="#Page_83">83</a>, <a href="#Page_86">86</a>,</li> +<li class="isub6"><a href="#Page_88">88</a>, <a href="#Page_90">90</a>, <a href="#Page_91">91</a>, <a href="#Page_93">93</a>,</li> +<li class="isub6"><a href="#Page_98">98</a>, <a href="#Page_106">106-107</a>.</li> +<li class="isub3">”<span class="ws4">”</span><span class="ws4">”</span> Silver Coinage, <a href="#Page_82">82</a>, <a href="#Page_83">83</a>, <a href="#Page_86">86</a>, <a href="#Page_106">106-107</a>,</li> +<li class="isub8"><a href="#Page_131">131</a>, <a href="#Page_132">132</a>, <a href="#Page_133">133</a>, <a href="#Page_144">144</a>.</li> +<li class="isub3">”<span class="ws4">”</span><span class="ws4">”</span> Gold Melting, <a href="#Page_96">96</a>, <a href="#Page_97">97</a>, <a href="#Page_98">98</a>, <a href="#Page_106">106-107</a>.</li> +<li class="isub3">”<span class="ws4">”</span><span class="ws4">”</span> Silver Melting, <a href="#Page_106">106</a>, <a href="#Page_107">107</a>, <a href="#Page_131">131</a>, <a href="#Page_134">134</a>,</li> +<li class="isub6"><a href="#Page_135">135</a>, <a href="#Page_138">138</a>, <a href="#Page_139">139</a>, <a href="#Page_140">140</a>, <a href="#Page_144">144</a>.</li> + +<li class="isub2 ifrst"><i>Times</i> newspaper, Letters in the, <a href="#Page_37">37</a>, <a href="#Page_52">52</a>, <a href="#Page_54">54-55</a>, <a href="#Page_72">72</a>.</li> +<li class="isub2">Tomlino, Colonel, <a href="#Page_169">169</a>.</li> +<li class="isub2">Tomlinson’s Cyclopædia, article on coining, <a href="#Page_viii">viii.</a>, <a href="#Page_4">4</a>, <a href="#Page_71">71</a>.</li> +<li class="isub2">Trevelyan, Sir Charles, <a href="#Page_195">195</a>.</li> +<li class="isub2">Trier, Duties of the, <a href="#Page_26">26</a>, <a href="#Page_31">31</a>, <a href="#Page_33">33</a>, <a href="#Page_35">35-36</a>.</li> + +<li class="isub2 ifrst">Value of Gain, <i>see</i> Gold, Silver, Gain by Coining.</li> +<li class="isub3">”<span class="ws2">Loss sustained,</span> <a href="#Page_31">31</a>, <a href="#Page_65">65</a>, <a href="#Page_67">67</a>, <a href="#Page_83">83</a>,</li> +<li class="isub6"><a href="#Page_84">84</a>, <a href="#Page_86">86</a>, <a href="#Page_89">89-91</a>, <a href="#Page_96">96-97</a>,</li> +<li class="isub6"><a href="#Page_98">98-99-100</a>, <a href="#Page_101">101</a>, <a href="#Page_102">102</a>,</li> +<li class="isub6"><a href="#Page_104">104</a>, <a href="#Page_105">105</a>, <a href="#Page_125">125</a>, <a href="#Page_128">128</a>,</li> +<li class="isub6"><a href="#Page_129">129</a>, <a href="#Page_131">131-135</a>, <a href="#Page_137">137</a>, <a href="#Page_143">143</a>,</li> +<li class="isub6"><a href="#Page_144">144</a>, <a href="#Page_145">145-149</a>, <a href="#Page_150">150</a>, <a href="#Page_151">151</a>,</li> +<li class="isub6"><a href="#Page_153">153</a>, <a href="#Page_154">154</a>, <a href="#Page_155">155-156</a>, <a href="#Page_161">161</a>,</li> +<li class="isub6"><a href="#Page_163">163</a>, <a href="#Page_164">164</a>, <a href="#Page_165">165</a>, <a href="#Page_174">174</a>, <a href="#Page_178">178</a>,</li> +<li class="isub6"><a href="#Page_179">179</a>, <a href="#Page_190">190</a>.</li> +<li class="isub3">”<span class="ws2">Money</span> Coined in each Coinage, <i>see</i> Coined Money.</li> +<li class="isub3">”<span class="ws2">Standard Gold,</span> <i>see</i> Gold, price of Standard.</li> +<li class="isub3">”<span class="ws2">Sweep recovered,</span> <i>see</i> Sweep recovered.</li> +<li class="isub2">Versmann, Mr. F., <a href="#Page_195">195</a>.</li> +<li class="isub2">Volatilization of Gold and Silver in Coinage operations, <a href="#Page_83">83</a>, <a href="#Page_88">88</a>, <a href="#Page_103">103</a>, <a href="#Page_104">104-105</a>,</li> +<li class="isub6"><a href="#Page_128">128</a>, <a href="#Page_145">145</a>, <a href="#Page_147">147</a>, <a href="#Page_162">162</a>.</li> + +<li class="isub2 ifrst">Wages System, Suggested new one, <a href="#Page_115">115-119</a>, <a href="#Page_121">121-123</a>.</li> +<li class="isub3">” <span class="ws2">”</span><span class="ws2">under which paid for Coining,</span> <a href="#Page_46">46</a>, <a href="#Page_115">115-119</a>.</li> +<li class="isub3">” <span class="ws2">”</span><span class="ws2">under which paid for Melting,</span> <a href="#Page_46">46</a>, <a href="#Page_116">116-117</a>.</li> +<li class="isub2">Warington, Mr. Robert, <a href="#Page_81">81</a>.</li> +<li class="isub2">Waste, <i>see</i> Coining, Loss by.</li> +<li class="isub2">Weighing Bullion, Differences made in, <a href="#Page_14">14-16</a>, <a href="#Page_89">89</a>, <a href="#Page_92">92</a>,</li> +<li class="isub10"><a href="#Page_104">104</a>, <a href="#Page_127">127</a>, <a href="#Page_137">137</a>,</li> +<li class="isub10"><a href="#Page_138">138</a>, <a href="#Page_143">143</a>, <a href="#Page_160">160-161</a>, + <a href="#Page_176">176</a>, <a href="#Page_184">184</a>.</li> +<li class="isub4">”<span class="ws3">”</span><span class="ws2">System of,</span> <a href="#Page_14">14-16</a>, <a href="#Page_136">136</a>, <a href="#Page_137">137</a>, <a href="#Page_138">138</a>.</li> +<li class="isub4">” Machines, Cotton’s Automaton, <a href="#Page_16">16</a>, <a href="#Page_37">37-42</a>, <a href="#Page_48">48</a>, <a href="#Page_124">124</a>.</li> +<li class="isub4">”<span class="ws3">”</span><span class="ws2">Bradshaw’s Improvements in,</span> <a href="#Page_40">40-42</a>.</li> +<li class="isub4">”<span class="ws3">”</span><span class="ws2">Pilcher’s Improvements in,</span> <a href="#Page_37">37</a>, <a href="#Page_39">39-40</a>, <a href="#Page_42">42</a>.</li> +<li class="isub4">”<span class="ws3">”</span><span class="ws2">Napier’s, for Mint Office,</span> <a href="#Page_15">15</a>, <a href="#Page_16">16</a>.</li> +<li class="isub4">”<span class="ws3">”</span><span class="ws2">Short’s, for Bullion,</span> <a href="#Page_16">16-18</a>.</li> +<li class="isub2">Wellington, Duke of, <a href="#Page_54">54</a>.</li> +<li class="isub2">Westbury, Lord, <a href="#Page_166">166</a>, <a href="#Page_167">167</a>.</li> +<li class="isub2">Wilson, Mr. C. Rivers, <a href="#Page_14">14</a>, <a href="#Page_127">127</a>, <a href="#Page_147">147</a>.</li> +<li class="isub2">Wood, Mr. Halder, <a href="#Page_195">195</a>.</li> +<li class="isub2">Worn Coins below Standard by Assay, <a href="#Page_48">48-49</a>, <a href="#Page_53">53-56</a>, <a href="#Page_57">57</a>.</li> +<li class="isub3">”<span class="ws2">”</span> Weight and Value of Gold, 53-<a href="#Page_56">56</a>, <a href="#Page_66">66</a>, <a href="#Page_67">67</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws2">”</span><span class="ws2">”</span> Silver, <a href="#Page_64">64-65</a>, <a href="#Page_66">66</a>, <a href="#Page_67">67</a>,</li> +<li class="isub12"><a href="#Page_130">130</a>, <a href="#Page_146">146</a>, <a href="#Page_152">152</a>, <a href="#Page_155">155-156</a>.</li> +<li class="isub2">Worn-out Melting-Pots, <a href="#Page_139">139</a>, <a href="#Page_140">140</a>.</li> + +<li class="isub2 ifrst">Zinc causes difficulty in Coining Bronze, <a href="#Page_75">75</a>.</li> +<li class="isub3">”<span class="ws2">”</span><span class="ws3">”</span><span class="ws4">”</span>  Gold, <a href="#Page_6">6</a>, <a href="#Page_14">14</a>.</li> +</ul> + +<p class="f110 spa2">“THE ROYAL MINT.”—THIRD EDITION</p> + +<hr class="chap x-ebookmaker-drop"> + +<p class="f120 spa2"><b>OPINIONS OF THE PRESS.</b></p> + +<div class="blockquot fs_90"> +<p>Especially worthy of official attention, and is accompanied by +suggestions for an amended system.—<i>Times.</i></p> + +<p>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.—<i>Economist.</i></p> + +<p>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 +<i>nil</i>.—<i>Money Market Review.</i></p> + +<p>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.—<i>Examiner +and London Review.</i></p> + +<p>The author of this book is, unquestionably, thoroughly versed in the +metallurgical, chemical, and mechanical details of the subjects treated +therein.—<i>Morning Advertiser.</i></p> + +<p>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.—<i>Standard.</i></p> + +<p>An interesting work relating to the operations of that +establishment.—<i>Daily News.</i></p> + +<p>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.—<i>Bullionist.</i></p> + +<p>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.—<i>Financier.</i></p> + +<p>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.—<i>London +Mercantile Journal.</i></p> + +<p>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.—<i>Public Opinion.</i></p> + +<p>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.—<i>Civil Service Gazette.</i></p> + +<p>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.—<i>Dundee Advertiser.</i></p> + +<p>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.—<i>Court Journal.</i></p> + +<p>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.”—<i>Echo.</i></p> + +<p>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.—<i>Bell’s Weekly Messenger.</i></p> + +<p>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.—<i>South London Press.</i></p> + +<p>Mr. Ansell’s book is cleverly written, and will probably lead to +enquiry.—<i>City Press.</i></p> + +<p>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.—<i>Scotsman.</i></p> + +<p>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.—<i>Edinburgh Evening Courant.</i></p> + +<p>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.—<i>Illustrated London News.</i></p> + +<p class="f110">LONDON: EFFINGHAM WILSON, ROYAL EXCHANGE.</p> + +<p class="center">PRINTED BY VIRTUE AND CO., CITY ROAD, LONDON.</p> +</div> + +<hr class="chap x-ebookmaker-drop"> + +<div class="chapter"> +<div class="transnote bbox spa2"> +<p class="f120 spa1">Transcriber’s Notes:</p> +<hr class="r10"> +<p>Deprecated spellings or archaeic words were not corrected.</p> +<p>Footnotes and illustrations have been moved so that they do not break up + paragraphs and so that they are next to the text they illustrate.</p> +<p>Typographical and punctuation errors have been silently corrected.</p> +</div></div> + +<div class="footnotes"> +<p class="f150">Footnotes:</p> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_1_1" href="#FNanchor_1_1" class="label">[1]</a> +See page <a href="#Page_196">196</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_2_2" href="#FNanchor_2_2" class="label">[2]</a> +See page <a href="#Page_186">186</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_3_3" href="#FNanchor_3_3" class="label">[3]</a> +See page <a href="#Page_198">198</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_4_4" href="#FNanchor_4_4" class="label">[4]</a> +See page <a href="#Page_197">197</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_5_5" href="#FNanchor_5_5" class="label">[5]</a> +See page <a href="#Page_146">146-148</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_6_6" href="#FNanchor_6_6" class="label">[6]</a> +See page <a href="#Page_148">148-149</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_7_7" href="#FNanchor_7_7" class="label">[7]</a> +See page <a href="#Page_169">169</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_8_8" href="#FNanchor_8_8" class="label">[8]</a> +See pages <a href="#Page_126">126</a>, <a href="#Page_144">144-156</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_9_9" href="#FNanchor_9_9" class="label">[9]</a> +See pages <a href="#Page_126">126-127</a>, <a href="#Page_168">168</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_10_10" href="#FNanchor_10_10" class="label">[10]</a> +See pages <a href="#Page_50">50-53</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_11_11" href="#FNanchor_11_11" class="label">[11]</a> +See pages <a href="#Page_129">129-138</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_12_12" href="#FNanchor_12_12" class="label">[12]</a> +See pages <a href="#Page_3">3</a>, <a href="#Page_73">73</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_13_13" href="#FNanchor_13_13" class="label">[13]</a> +This word is explained at page <a href="#Page_35">35</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_14_14" href="#FNanchor_14_14" class="label">[14]</a> +See pages <a href="#Page_9">9</a>, <a href="#Page_53">53</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_15_15" href="#FNanchor_15_15" class="label">[15]</a> +That is, made by Payen, of Paris.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_16_16" href="#FNanchor_16_16" class="label">[16]</a> +See pages <a href="#Page_81">81-82</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_17_17" href="#FNanchor_17_17" class="label">[17]</a> +See p. <a href="#Page_39">39</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_18_18" href="#FNanchor_18_18" class="label">[18]</a> +See page <a href="#Page_112">112</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_19_19" href="#FNanchor_19_19" class="label">[19]</a> +See page <a href="#Page_23">23</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_20_20" href="#FNanchor_20_20" class="label">[20]</a> +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.—<a href="#Page_31">See also page 31</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_21_21" href="#FNanchor_21_21" class="label">[21]</a> +See page <a href="#Page_48">48</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_22_22" href="#FNanchor_22_22" class="label">[22]</a> +See page <a href="#Page_39">39</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_23_23" href="#FNanchor_23_23" class="label">[23]</a> +See p. <a href="#Page_169">169</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_24_24" href="#FNanchor_24_24" class="label">[24]</a> +See pages <a href="#Page_42">42-44</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_25_25" href="#FNanchor_25_25" class="label">[25]</a> +See pages <a href="#Page_71">71-73</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_26_26" href="#FNanchor_26_26" class="label">[26]</a> +See pages <a href="#Page_73">73</a>, <a href="#Page_123">123</a>, <a href="#Page_124">124</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_27_27" href="#FNanchor_27_27" class="label">[27]</a> +That is, coins which, although otherwise perfect in manufacture, are +not within the limited variations of weight permitted by the Mint +regulations.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_28_28" href="#FNanchor_28_28" class="label">[28]</a> +See pages <a href="#Page_108">108</a>, <a href="#Page_109">109</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_29_29" href="#FNanchor_29_29" class="label">[29]</a> +See page <a href="#Page_53">53</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_30_30" href="#FNanchor_30_30" class="label">[30]</a> +See page <a href="#Page_6">6</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_31_31" href="#FNanchor_31_31" class="label">[31]</a> +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.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_32_32" href="#FNanchor_32_32" class="label">[32]</a> +Besides many verbal congratulations, the Master wrote me +the following letter:—</p> + +<div class="blockquot fs_90"> +<p class="big_indent">Registered No. 3026, 1860.</p> +<p class="author">Royal Mint, 20th October, 1860.</p> +<p class="no-indent"><span class="smcap">Dear Sir</span>,</p> + +<p>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.</p> + +<p class="author">I have the honour to be,<span class="ws6"> </span><br> +Dear Sir,<span class="ws4"> </span><br> +Most faithfully yours,<span class="ws2"> </span><br> +Tho. Graham</p>. + +<p>George F. Ansell, Esq.</p> +</div></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_33_33" href="#FNanchor_33_33" class="label">[33]</a> +See pages <a href="#Page_48">48</a>, <a href="#Page_49">49</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_34_34" href="#FNanchor_34_34" class="label">[34]</a> +See pages <a href="#Page_48">48</a>, <a href="#Page_49">49</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_35_35" href="#FNanchor_35_35" class="label">[35]</a> +See pages <a href="#Page_166">166</a>, <a href="#Page_167">167</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_36_36" href="#FNanchor_36_36" class="label">[36]</a> +See pages <a href="#Page_123">123-125</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_37_37" href="#FNanchor_37_37" class="label">[37]</a> +See page <a href="#Page_80">80</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_38_38" href="#FNanchor_38_38" class="label">[38]</a> +In Evelyn’s “Discourse of Medals,” 1697, p. 224, occurs the following +passage:—“Mr. <i>Slingsby</i>, to whom I suggested the <i>Decus & +Tutamen</i> out of a <i>Viniet</i> in <i>Cardinel de Richlieu’s Greek +Testament</i>, printed at the <i>Louvre</i>, hindering his intended +Addition (<i>in armis</i>), which neither would have become the +<i>impress</i>, nor stood gracefully in the circle.”</p> +</div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_39_39" href="#FNanchor_39_39" class="label">[39]</a> +<i>Dei Gratia</i> was also omitted on some of the coins of George I.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_40_40" href="#FNanchor_40_40" class="label">[40]</a> +33rd Vict., c. 10, cl. 4.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_41_41" href="#FNanchor_41_41" class="label">[41]</a> +See pages <a href="#Page_42">42-45</a>, <a href="#Page_108">108</a>, <a href="#Page_109">109</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_42_42" href="#FNanchor_42_42" class="label">[42]</a> +See pages <a href="#Page_73">73</a>, <a href="#Page_123">123</a>, <a href="#Page_124">124</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_43_43" href="#FNanchor_43_43" class="label">[43]</a> +See pages <a href="#Page_39">39</a>, <a href="#Page_73">73</a>, <a href="#Page_124">124</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_44_44" href="#FNanchor_44_44" class="label">[44]</a> +See pages <a href="#Page_48">48</a>, <a href="#Page_49">49</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_45_45" href="#FNanchor_45_45" class="label">[45]</a> +See page <a href="#Page_9">9</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_46_46" href="#FNanchor_46_46" class="label">[46]</a> +See pages <a href="#Page_86">86-88</a>, <a href="#Page_140">140</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_47_47" href="#FNanchor_47_47" class="label">[47]</a> +See pages <a href="#Page_29">29</a>, <a href="#Page_32">32-33</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_48_48" href="#FNanchor_48_48" class="label">[48]</a> +See pages <a href="#Page_98">98-99</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_49_49" href="#FNanchor_49_49" class="label">[49]</a> +See page <a href="#Page_178">178</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_50_50" href="#FNanchor_50_50" class="label">[50]</a> +See pages <a href="#Page_107">107</a>, <a href="#Page_117">117</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_51_51" href="#FNanchor_51_51" class="label">[51]</a> +See page <a href="#Page_89">89</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_52_52" href="#FNanchor_52_52" class="label">[52]</a> +See page <a href="#Page_27">27</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_53_53" href="#FNanchor_53_53" class="label">[53]</a> +See pages <a href="#Page_99">99-106</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_54_54" href="#FNanchor_54_54" class="label">[54]</a> +See pages <a href="#Page_35">35</a>, <a href="#Page_87">87</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_55_55" href="#FNanchor_55_55" class="label">[55]</a> +The moneyers were those contractors who conducted the coinages +previously to the Mint being formed into a governmental department in +1851.—<i>Vide</i> Parliamentary Reports, 1837, 1849, 1852.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_56_56" href="#FNanchor_56_56" class="label">[56]</a> +See page <a href="#Page_178">178</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_57_57" href="#FNanchor_57_57" class="label">[57]</a> +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.”</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_58_58" href="#FNanchor_58_58" class="label">[58]</a> +See page <a href="#Page_90">90</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_59_59" href="#FNanchor_59_59" class="label">[59]</a> +See page <a href="#Page_95">95</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_60_60" href="#FNanchor_60_60" class="label">[60]</a> +Specially referred to on page <a href="#Page_94">94</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_61_61" href="#FNanchor_61_61" class="label">[61]</a> +Specially referred to on page <a href="#Page_94">94</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_62_62" href="#FNanchor_62_62" class="label">[62]</a> +Specially referred to on page <a href="#Page_94">94</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_63_63" href="#FNanchor_63_63" class="label">[63]</a> +Specially referred to on page <a href="#Page_94">94</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_64_64" href="#FNanchor_64_64" class="label">[64]</a> +See page <a href="#Page_90">90</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_65_65" href="#FNanchor_65_65" class="label">[65]</a> +See page <a href="#Page_96">96</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_66_66" href="#FNanchor_66_66" class="label">[66]</a> +See page <a href="#Page_96">96</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_67_67" href="#FNanchor_67_67" class="label">[67]</a> +See pages <a href="#Page_97">97</a>, <a href="#Page_101">101</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_68_68" href="#FNanchor_68_68" class="label">[68]</a> +See page <a href="#Page_102">102</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_69_69" href="#FNanchor_69_69" class="label">[69]</a> +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.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_70_70" href="#FNanchor_70_70" class="label">[70]</a> +See page <a href="#Page_94">94</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_71_71" href="#FNanchor_71_71" class="label">[71]</a> +See page <a href="#Page_83">83</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_72_72" href="#FNanchor_72_72" class="label">[72]</a> +See page <a href="#Page_90">90</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_73_73" href="#FNanchor_73_73" class="label">[73]</a> +See also page <a href="#Page_91">91</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_74_74" href="#FNanchor_74_74" class="label">[74]</a> +See page <a href="#Page_136">136</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_75_75" href="#FNanchor_75_75" class="label">[75]</a> +See page <a href="#Page_102">102</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_76_76" href="#FNanchor_76_76" class="label">[76]</a> +See page <a href="#Page_102">102</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_77_77" href="#FNanchor_77_77" class="label">[77]</a> +See pages <a href="#Page_91">91</A>, <a href="#Page_97">97</a>, + <a href="#Page_133">133</a>, <a href="#Page_135">135</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_78_78" href="#FNanchor_78_78" class="label">[78]</a> +See Master’s Letter to Treasury, page <a href="#Page_179">179</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_79_79" href="#FNanchor_79_79" class="label">[79]</a> +See my Report to the Master of the Mint, March 8, 1860.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_80_80" href="#FNanchor_80_80" class="label">[80]</a> +See Remedy explained at page <a href="#Page_39">39</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_81_81" href="#FNanchor_81_81" class="label">[81]</a> +See page <a href="#Page_44">44</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_82_82" href="#FNanchor_82_82" class="label">[82]</a> +See pages <a href="#Page_44">44-45</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_83_83" href="#FNanchor_83_83" class="label">[83]</a> +See pages <a href="#Page_46">46</a>, <a href="#Page_92">92</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_84_84" href="#FNanchor_84_84" class="label">[84]</a> +See pages <a href="#Page_46">46</a>, <a href="#Page_92">92</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_85_85" href="#FNanchor_85_85" class="label">[85]</a> +See page <a href="#Page_111">111</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_86_86" href="#FNanchor_86_86" class="label">[86]</a> +See page <a href="#Page_110">110</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_87_87" href="#FNanchor_87_87" class="label">[87]</a> +Explained on page <a href="#Page_115">115</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_88_88" href="#FNanchor_88_88" class="label">[88]</a> +Explained on page <a href="#Page_115">115</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_89_89" href="#FNanchor_89_89" class="label">[89]</a> +Explained on page <a href="#Page_115">115</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_90_90" href="#FNanchor_90_90" class="label">[90]</a> +Explained on page <a href="#Page_115">115</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_91_91" href="#FNanchor_91_91" class="label">[91]</a> +See page <a href="#Page_114">114</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_92_92" href="#FNanchor_92_92" class="label">[92]</a> +See page <a href="#Page_117">117</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_93_93" href="#FNanchor_93_93" class="label">[93]</a> +See page <a href="#Page_92">92</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_94_94" href="#FNanchor_94_94" class="label">[94]</a> +See page <a href="#Page_111">111</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_95_95" href="#FNanchor_95_95" class="label">[95]</a> +See page <a href="#Page_111">111</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_96_96" href="#FNanchor_96_96" class="label">[96]</a> +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.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_97_97" href="#FNanchor_97_97" class="label">[97]</a> +See Report by Commissioners on International Coinage, p. 93.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_98_98" href="#FNanchor_98_98" class="label">[98]</a> +See the Mint Books.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_99_99" href="#FNanchor_99_99" class="label">[99]</a> +See page <a href="#Page_117">117</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_100_100" href="#FNanchor_100_100" class="label">[100]</a> +See page <a href="#Page_125">125</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_101_101" href="#FNanchor_101_101" class="label">[101]</a> +See page <a href="#Page_129">129</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_102_102" href="#FNanchor_102_102" class="label">[102]</a> +See pages <a href="#Page_44">44</a>, <a href="#Page_179">179</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_103_103" href="#FNanchor_103_103" class="label">[103]</a> +Sec pages <a href="#Page_3">3</a>, <a href="#Page_127">127</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_104_104" href="#FNanchor_104_104" class="label">[104]</a> +See pages <a href="#Page_39">39</a>, <a href="#Page_73">73</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_105_105" href="#FNanchor_105_105" class="label">[105]</a> +See page <a href="#Page_71">71</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_106_106" href="#FNanchor_106_106" class="label">[106]</a> +See page <a href="#Page_178">178</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_107_107" href="#FNanchor_107_107" class="label">[107]</a> +See page <a href="#Page_136">136</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_108_108" href="#FNanchor_108_108" class="label">[108]</a> +See page <a href="#Page_162">162</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_109_109" href="#FNanchor_109_109" class="label">[109]</a> +See page <a href="#Page_152">152</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_110_110" href="#FNanchor_110_110" class="label">[110]</a> +See pages <a href="#Page_146">146</a>, <a href="#Page_152">152</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_111_111" href="#FNanchor_111_111" class="label">[111]</a> +See pages <a href="#Page_65">65-67</a>, <a href="#Page_152">152</a>, + <a href="#Page_155">155</a>, <a href="#Page_156">156</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_112_112" href="#FNanchor_112_112" class="label">[112]</a> +See pages <a href="#Page_127">127</a>, <a href="#Page_137">137-138</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_113_113" href="#FNanchor_113_113" class="label">[113]</a> +See page <a href="#Page_88">88</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_114_114" href="#FNanchor_114_114" class="label">[114]</a> +See page <a href="#Page_134">134</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_115_115" href="#FNanchor_115_115" class="label">[115]</a> +See pages <a href="#Page_127">127</a>, <a href="#Page_130">130</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_116_116" href="#FNanchor_116_116" class="label">[116]</a> +See page <a href="#Page_134">134</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_117_117" href="#FNanchor_117_117" class="label">[117]</a> +See page <a href="#Page_134">134</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_118_118" href="#FNanchor_118_118" class="label">[118]</a> +See pages <a href="#Page_131">131</a>, <a href="#Page_136">136</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_119_119" href="#FNanchor_119_119" class="label">[119]</a> +See Report by Colonel J. T. Smith on Indian Mints from 1841-2 to +1852-3. Printed by authority at Madras, 1855.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_120_120" href="#FNanchor_120_120" class="label">[120]</a> +See pages <a href="#Page_137">137-138</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_121_121" href="#FNanchor_121_121" class="label">[121]</a> +See pages <a href="#Page_132">132-134</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_122_122" href="#FNanchor_122_122" class="label">[122]</a> +I am prepared to give the names of the parties dismissed and the dates +of dismissal.—G. F. A.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_123_123" href="#FNanchor_123_123" class="label">[123]</a> +See page <a href="#Page_162">162</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_124_124" href="#FNanchor_124_124" class="label">[124]</a> +See pages <a href="#Page_89">89</a>, <a href="#Page_160">160-161</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_125_125" href="#FNanchor_125_125" class="label">[125]</a> +Specified by the Mint Indenture, which was legalised by +the Act of Parliament 56 Geo. III. cap. 68, sec. ii.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_126_126" href="#FNanchor_126_126" class="label">[126]</a> +See pages <a href="#Page_53">53-56</a>.</p></div> + +<div class="footnote"><p class="no-indent"> +<a id="Footnote_127_127" href="#FNanchor_127_127" class="label">[127]</a> +Understated at £99 14<i>s.</i> 5½2<i>d.</i> in previous letter of May +22, 1858, in consequence of the sweep recovered per million having +been taken at £136 13<i>s.</i> 9<i>d.</i> instead of £93 3<i>s.</i> 7<i>d.</i>, +the correct amount.</p></div> +</div> +<div style='text-align:center'>*** END OF THE PROJECT GUTENBERG EBOOK 78741 ***</div> +</body> +</html> diff --git a/78741-h/images/cover.jpg b/78741-h/images/cover.jpg Binary files differnew file mode 100644 index 0000000..7ebe6e9 --- /dev/null +++ b/78741-h/images/cover.jpg diff --git a/78741-h/images/fig_1.jpg b/78741-h/images/fig_1.jpg Binary files differnew file mode 100644 index 0000000..762d887 --- 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